PHILIPPINES: Tanduay projects income up, but denies San Mig talks
The Philippine rum maker Tanduay Holdings Inc, announced today that it expects its net income this year to rise to 500m pesos ($10m) from last year's Peso421.45m. And the San Miguel competitor also confirmed it had no plans to sell a stake in the company. Despite the positive projections, net income in the first quarter was likely to be lower than the same year-ago period, the company said.