Top lender BDO Unibank Inc., the financial services arm of the SM Group, will remain cautious yet still be aggressive in 2024 even as earnings are trending towards beating last year’s record performance. BDO President and CEO Nestor V. Tan In a press briefing before the bank’s annual...
SSI Group, the Tantoco family’s retail business holding company, continued to post record growth with net income rising 34 percent to hit an all-time high of P2.58 billion last year as consumer spending sustains its recovery. In a disclosure to the Philippine Stock Exchange (PSE), the firm...
Filipinos’ desire for people-moving, seven-seater crossovers keeps fueling the influx of new marques and models, the majority from China. People keep asking me, are they good or not? One brand gaining traction is Jetour. I believe it is more because of the cute Ice Cream EV (electric vehicle) and...
Axelum Resources Corporation, the country’s leading fully-integrated manufacturer and exporter of premium coconut products, has signed a multi-year supply deal initially valued about P20 billion with The Vita Coco Company, Inc., one of the world’s largest coconut water brands, on strong global...
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...
