Business NEWS

SMC Global Power Holdings Corporation is planning to raise up to P40 billion from the issuance of bonds consisting of a P30-billion float with an oversubscription of up to P10 billion.

DMCI Mining Corporation recorded a 14 percent improvement in first quarter core net income from P477 million in 2021 to this year’s P543 million, its highest for any given quarter.

Megawide Construction Corporation’s proposed bond issue of up to P4 billion has been assigned an issue credit rating of PRS Aa with a Stable Outlook by Philippine Rating Services Corporation (PhilRatings).

The local stock market weakened after its recent surge as investors took profits.

8990 sustains 2021 record performance in Q1

SKYcable, a subsidiary of ABS-CBN Corporation, is beefing up its fight against illegal cable cutting by launching its “Oplan Kontra Putol” campaign.

The Philippine Stock Exchange, Inc. (PSE) has approved the planned P4.5-billion initial public offering of North Star Meat Merchants, Inc. slated for June 13 to 17, 2022.

The local stock market continued to rally, rising almost a hundred points, on the back of gains in US bourses last Friday.

First Philippine Holdings Corporation is allotting P51 billion for consolidated capital expenditures this year, slightly higher than the P50 billion earmarked in 2021, as it focuses on its power generation and real estate businesses.

Mall developer Ever-Gotesco Resources and Holdings, Inc. is undergoing a quasi-reorganization of its capital stock and changing its corporate name as part of plans to diversify into the agri-tourism and bamboo industries.

BDO Securities was named the Best Retail Broker in the Philippines at the recently held 15th Annual Alpha Southeast Asia Best Financial Institution Awards 2021.

MREIT, Inc., the real estate investment trust sponsored by Megaworld Corporation, is looking out assets outside Metro Manila as it assured that it is committed to deliver on its P20 billion acquisition plan for 2022.

D.M. Wenceslao and Associates, Inc. reported that its core net income jumped almost three-fold to P961 million in the first quarter of 2022 from P365 million in the same period last year.

Aboitiz Data Innovation (ADI), the Data Science and Artificial Intelligence (DSAI) unit of the Aboitiz Group, has launched a data exchange platform called Parlay to help accelerate the conglomerate’s digital transformation.

The local stock market rose for the third day to end the week higher on the back of gains in US bourses and less uncertainty in the local front.

The Philippine Stock Exchange has also approved the planned initial public offering (IPO) by Balai ni Fruitas Inc. worth up to P309.38 million.

VistaREIT, Inc., the real estate investment trust of the Villar group, has pegged its initial public offering price at P1.75 per share for a total offering size of P4.8 billion.

The local stock market moved up slightly after the the incoming administration finally named its finance secretary.