The local stock market advanced to a new record high on Tuesday as investors gobbled up blue-chip stocks on expectations of firm 1Q12 corporate earnings and sustained economic growth for this year.

The PSEi main index rose 39.82 points, or 0.8% higher from Monday, to close at 5,157.28, an historic high. The index jumped to an intra-day high of 5,186.52, up 1.3% for the day, before settling down to a lower level.

Megaworld Corp. (MEG) reported a 2011 net income of PhP8.0 billion, up 60% from PhP5.1bn in 2010, on strong revenue growth from real estate sales and a one-time gain from the sale of shares. Consolidated revenues totaled PhP28.6bn in 2011, up 39% from PhP20.5bn in 2010, brought mostly by increased sales of condominium units and residential lots from its various existing and ongoing development projects, leasing, and hotel operations.

Real-estate sales went up 21.2% to PhP15.9bn, leasing revenues by 42% to PhP3.8bn, and hotel operation revenues by 68.5% to PhP392.2m. A one-time game of PhP2.2bn from the sale of shares contributed to MEG’s bottom line last year. The company is targeting a net income growth of 10% this year. MEG is trading with a PER of 8x this year’s earnings, an attractive discount to the property sector’s 30x and the market’s 18x multiples. Buy on weakness.

Lepanto Consolidated Mining (LC/LCB) expects an 18% growth in 2012 net income to PhP300m on increased gold production from its mines. According to the company’s chief operating officer, production could reach 1,500 tons per day from an average of 1,300 tons recorded in the first three months of this year. Out of this, gold production is projected to hit 37,000 ounces or a net income of PhP300m. Trading Buy.

At this trend of market, everyone thinks a genius after winning a good profit. All i can say is, pick wisely then... Good Luck Kabayan! Mabuhay...