President Gloria Macapagal-Arroyo graced today the listing of some 3.13 billion common shares of stock of Alliance Global Group, Inc. (AGGI) worth P17.8 billion at the Philippine Stock Exchange (PSE) in Makati City, as stock prices vaulted to new record highs.

At the close of trading today, the 29-company composite index rose 9.26 points or 0.25 percent at 3,680.55 -- a new record topping the May 22 trading finish.

The AGGI follow-on stock offering, touted as the single largest in the history of PSE, resumed today after it was suspended on June 4.

AGGI President and Chief Operating Officer Kingson Sian said his company evolved from a one-product line manufacturing company to a conglomerate due to the "continued efforts (of government) to develop the stock market."

He pointed out that favorable developments in the country, bannered by the buoyant economy and the strong peso, have caught the "readers’ screen of investors."

Sian said AGGI’s follow-on offering "underscores the bullish investor sentiment anchored on improving economic fundamentals."

The bulls are loose at the PSE as stock prices continue to soar rapidly. Last Friday, stock prices hit a new all-time high, soaring 42.67 points or 1.17 percent to 3,671.29 while the value turnover swelled to P9 billion.

Analysts said they expect the bull run to continue and possibly even breach the 3,800-4,000 level in the short term due to positive economic and corporate numbers.

The economy, measured by the gross domestic product (GDP), posted a 6.9 percent growth during the first quarter of 2007. The strongest GDP performance in the last 17 years, the new record was attributed to the rise in exports, increased household consumption, higher government spending, and growing investor confidence.

AGGI is the holding company of real estate tycoon Andrew Tan of Megaworld Corporation. It owns 49 percent of the local franchise of MacDonald’s food chain and has recently acquired local brandy maker Emperador Distillers, Inc. for P3 billion.

China Ocean Shipping (Group) Company (COSCO), one of the world’s shipping giants, is pouring $3 billion into a shipping complex development project in Sangley Point, Cavite which the company eyes as its main hub in the Southeast Asian region.

President Gloria Macapagal-Arroyo was informed on the new Chinese investment by COSCO president and chief executive officer Wei Jia Fu during a courtesy call in Malacanang this afternoon.

During her recent trip to China, the President invited Wei to visit the Philippines to see for himself the business opportunities in the country. Wei, who arrived yesterday from the United States, told the Chief Executive he was thankful for her invitation and the opportunity to assess the investment possibilities in the country.

Accompanying Wei were COSCO general managers Shi Zemin and Yuan Xiayu, COSCO Container Lines managing director Sun Jia Kang, and Ji Hai Sheng, president of COSCO Corp. Singapore Ltd.

Sangley Point is being developed as an international transshipment point through the creation of an special economic zone.

COSCO will be the second foreign firm to establish a shipping complex in the Philippines. Earlier this year, Hanjin Corporation of Korea, the world’s 4^th largest shipbuilding facility, infused $1 billion into a shipyard project at the Subic Bay Freeport in Zambales.

By 2016, Hanjin’s Subic Bay facility will be able to manufacture the world’s largest gas tanker and generate 40,000 direct and indirect employment.

Among those present during Wei’s call on the President were Trade Secretary Peter Favila, Transportation and Communications Secretary Leandro Mendoza, National Economic and Development Authority (NEDA) Secretary General Romulo Neri, and Ambassador Francis Chua, special Philippine envoy on China trade and investments.

Chua said COSCO’s facility would generate 100,000 jobs, particularly for the country’s seafarers.

Positive attitude, enthusiasm, and perseverance are the driving factors that made Domingo Mondragon, a "Tindahan Natin" outlet owner, Angel Narito, proprietor of Argie’s Bakery and Mini Grocery, and Rodolfa Tongco, a buy-and-sell agent, succeed in building their own businesses through the National Anti-Poverty Commission’s (NAPC) microfinance assistance.

NAPC’s officer-in-charge, Assistant Secretary Dolores de Quiros-Castillo, joined the three successful entrepreneurs share their success stories at "The PMS Forum: Cerge for Truth," hosted by Secretary and Presidential Management Staff (PMS) Director General Cerge M. Remonde.

Remonde said the successful ventures of these budding entrepreneurs were featured on national television in the hope that they will give inspiration to the audience and encourage more people to go into entrepreneurship. He added that NAPC serves as the frontline agency in the total work against poverty and hunger and is very much involved in the government’s microfinancing program.

Mondragon, a member of the Handog Sikap Kalipi ng TS Cruz SEA-K Association, was encouraged by NAPC’s "no interest, no collateral" loan policy. A high school graduate and with no means to pursue a college education, Mondragon availed of the NAPC’s loan assistance program and started his sari-sari store in 2001 with an initial capital of P5,000.

Today, Mondragon generates an average of P500 to P1,000 weekly profit. Noodles and rice are the most saleable foodstuff.

Narito worked in a bakery in Cavite City in 1999 where he got his basic skills in baking. With his P4,500 savings, he started the bitso and donut business. Out of his daily sales, Narito saved P50 a day, which he used to buy a second-hand oven.

Later, Narito opened his own bakery and mini grocery in Parola Compound, Binondo, Manila after seeking the help of UPLIFT Philippines Inc. and availing of an initial loan of P3,000.

Today, Narito can loan as much as P80,000. Through the business, Narito and his wife were able to send their son to school and their standard of living has improved.

"A small capital matched with determination spells success for any business venture," Narito said.

Tongco, who hails from San Rafael, Rodriguez, Rizal first heard of the microfinance assistance through a friend.

She joined the Center for Community Transformation (CCT) Credit Cooperative where she got P4,000 as her first loan. She used the amount to finance her buy-and-sell frozen food business.

As a born again Christian, she would always lift up to God her earnings for the following day. As a result, more people have placed bulk orders with her.

While keeping her frozen food business, she also ventured into the gravel and sand business.

Noting the success of the three entrepreneurs, De Quiros-Castillo assured that NAPC is doing its best to make sure that its microfinance services will continue to trickle down to the poor.

NAPC is formulating a National Financial Literacy Program to inform its people on the field, its MFI partners, government-owned and controlled corporations (GOCCs) and the poor sector about microfinance. The development of modules for this program is currently underway.