Tycoon Andrew Tan’s township developer Megaworld Corporation has raised P500 million from the sale of shares in its real estate investment trust MREIT Inc. In a disclosure to the Philippine Stock Exchange, Megaworld said it sold 40.65 million MREIT common shares under a block sale transaction at...
Publicly-listed Balai ni Fruitas Inc., a leading Philippine counter service bakery operator, is acquiring the 40-year old legacy brand Sugarhouse and various assets related to the business. In a disclosure to the Philippine Stock Exchange, the firm said it has signed a Memorandum of Agreement to...
Top lender BDO Unibank Inc. of the SM Group posted a 12 percent growth in net income to P18.5 billion in the first quarter of 2024 on the sustained performance of its core businesses. In a disclosure to the Philippine Stock Exchange (PSE), the firm said this resulted in an annualized Return on...
The Securities and Exchange Commission (SEC) has made permanent the cease and desist order (CDO) it issued against Maria Francesca Tan (MFT) Group of Companies, Inc. and Foundry Ventures I, Inc., along with their officers and agents. In a resolution promulgated on April 1, the Commission En Banc...
The Alcantara family’s holding company Alsons Consolidated Resources, Inc. (ACR) has received a high Issuer Credit Rating rating of PRS Aa minus (corp.), with a Stable Outlook, for its P3.0 billion Commercial Paper (CPs) Program. In a statement, Philippine Rating Services Corporation...
The Gotianun Group’s real estate investment trust Filinvest REIT Corporation (FILRT) is waiting for the equities market to recover and for its stock price to improve before acquiring more assets via share swap. “A number of assets have been identified for infusion into FILRT that are subject to...
Listed Filipino firm Basic Energy Corporation has sealed a 50:50 joint venture pact with Japanese firm Renova Inc. for the commercial development of Mabini wind power project that could potentially yield 50-megawatt capacity addition to the country’s power supply. Basic Energy announced that the...
The consortium-members of the Malampaya gas field will inject up to $800 million worth of investments to stretch the facility’s production life cycle, as anchored on the 15-year extension granted by the government on the project’s Service Contract (SC) 38. As emphasized by Prime Infrastructure...
Renewable energy firm SP New Energy Corp. (SPNEC), now chaired by tycoon Manuel V. Pangilinan through the controlling stake of MGen Renewable Energy (MGreen), reported a net income of P5.7 billion in 2023 after gaining 100 percent ownership of Terra Solar Philippines. Based on its disclosure...
Fruitas Holdings, Inc., the leading operator of multi-format food and beverage stores, has successfully raised P200 million from its maiden private placement of corporate notes. In a disclosure to the Philippine Stock Exchange, the firm said the notes issuance was arranged by RCBC Capital...
Fruitas Holdings Inc., the leading operator of multi-format food and beverage stores reported a 37 percent growth in consolidated net income to P113 million last year from the P82 million earned in 2022 on the back of record revenues. Fruitas disclose to the Philippine Stock Exchange (PSE) that it...
Alliance Global Group Inc. (AGI), the investment holding company of tycoon Dr. Andrew L. Tan, reported a 20 percent growth in net income to a record P30.3 billion despite higher inflation which pushed overall costs and expenses up. In a disclosure to the Philippine Stock Exchange (PSE, the...
