Publicly listed telecommunications firms, particularly market leaders PLDT and Globe Telecom, are taking a beating on the local stock market as investors shy away due to the potential impact of the Konektadong Pinoy Act and new online gambling restrictions on e-wallets. “The sector has been on...
It’s been a while, but Malacañang remains tight-lipped on the “Konektadong Pinoy” bill that aims to provide free Wi-Fi access, especially in Geographically Isolated and Disadvantaged Areas (GIDA), by liberalizing the telecommunications sector and expanding data connectivity. Yes, Virginia,...
The parent company of telco firm DITO Telecommunity (Tel), headed by Davao-based tycoon Dennis Uy, saw its net losses more than halved in the first quarter of the year as revenues continued to soar, driven by strong demand for mobile services. In a disclosure to the Philippine Stock Exchange (PSE),...
DITO CME Director Cherylyn C. Uy DITO CME Holdings Corp. announced the replacement of a board director and its treasurer, Cherylyn C. Uy, the spouse of founder and Davao tycoon Dennis A. Uy, to make room for representatives of its new controlling shareholder, Singaporean Summit Telco Corp. Pte....
Davao tycoon Dennis A. Uy’s DITO CME Holdings Corporation has decided to postpone indefinitely its planned P4.2 billion follow-on-offering (FOO) originally scheduled from September 26 to October 2, 2024. In a letter to the Philippine Stock Exchange, the firm said that, “upon careful...
The Securities and Exchange Commission (SEC) has approved the planned follow-on offering of Davao tycoon Dennis A. Uy’s DITO CME Holdings Corporation of shares worth up to P4.2 billion. In its meeting on August 15, the Commission En Banc resolved to render effective DITO’s registration...
Taking a pitch on prospective reduction of dependence on imported fuels, the Department of Energy (DOE) has approved progressive increase in coco methyl ester (CME) blend for diesel products – starting at 3.0% by October this year from currently at 2.0%. Additionally, the DOE has given go-signal...
DITO CME Holdings Corporation, the information and communications technology (ICT) sector holding firm of Davao tycoon Dennis A. Uy, reported that its subsidiary DITO Telecommunity Corporation has secured a $3.9-billion 15-year long-term project finance facility after raising P4.44 billion from...
Davao tycoon Dennis A. Uy’s DITO CME Holdings Corporation has raised P2.24 billion through the issuance of shares of a subsidiary to a firm established in the Cayman Islands. In a disclosure to the Philippine Stock Exchange (PSE), DITO CME said its subsidiary DITO Holdings Corporation has issued...
Davao tycoon Dennis A. Uy’s telecommunications unit Dito CME Holdings Corporation has revealed that the identities of the two buyers of its P2.2 billion shares are two firms that have been recently registered in Singapore. In a disclosure to the Philippine Stock Exchange, the buyer of P610...
Davao tycoon Dennis A. Uy’s telecommunications unit Dito CME Holdings Corporation has sold P2.2 billion worth of its new unlisted shares equivalent to 13.55 percent of its expanded capital, but did not reveal the identity of the buyers. In two disclosures to the Philippine Stock Exchange, Dito...
The financial rebound of leading oil firm Petron Corporation is on its escalation phase as its nine-month income this year rose 64-percent to P8.2 billion from P4.99 billion in a comparative period last year. Operating income posted in the three quarters had also been robust at P16.5 billion,...
