The ongoing construction of the Makati City subway system hit a snag after the recent Supreme Court decision finding some areas previously within the jurisdiction of Makati City to be within the jurisdiction of Taguig City instead. “Under the Joint Venture Agreement executed between the Makati...
Fruitas Holdings Inc., a leading food and beverage retail operator, has secured a P300 million credit facility from Philtrust Bank to boost its war chest to P1 billion as it actively looks for new partners for mergers and acquisitions (M&As). In a statement, the firm said it has also...
The planned P402 million acquisition of a 67 percent stake in publicly-listed LMG Corporation by Maxwealth Infinity Holdings Corporation (MIHC) has been terminated. The acquisition of a majority stake in LMG was intended for the backdoor listing of the firm at the Philippine Stocks Exchange (PSE)....
Three months after Lucio Tan III took the helm as president of PAL Holdings Inc. (PHI), the parent company of the country’s premier flag carrier Philippine Airlines (PAL), he reinstated key management positions in a swift move to build a corporate structure that strengthens the airline’s...
SM Investments Corporation (SMIC) has confirmed that the planned $1-billion initial public offering (IPO) of real estate SM Prime Holdings Inc., one of the largest integrated real estate companies in Southeast Asia, will be moved to 2024 instead of later this year. During the investor conference...
ThermaPrime Drilling Corporation (ThermaPrime), a subsidiary of Lopez-led First Philippine Holdings Corp (FPH), said it has completed drilling of its 15 wells for Philippine Geothermal Production Company Inc. (PGPC), the pioneer geothermal resource exploration and development company of the Sy...
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...
Beverages tycoon Alfredo Yao is giving away the shares of RC Cola bottler ARC Refreshments Corporation (ARC) to shareholders of his investment arm Macay Holdings Inc. in what may be in preparation for a public listing. In a disclosure to the Philippine Stock Exchange, Macay said its Board of...
With consumer spending having mostly recovered from the effects of the pandemic, tycoon Manuel B. Villar Jr. is now ready to resume the expansion programs of its two retail chains AllHome Corporation and AllDay Supermarkets. “By next year, we will resume our expansion. We will start with the...
While the local stock market has been on a steady decline - down to its lowest level in nine months -- analysts do not see much relief as investor sentiment has turned bearish due to a confluence of negative factors. “The local market closed last week at 6,290.27, its lowest close since November...
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...
Waste and Resources Management Inc. (WARM), a wholly-owned subsidiary of Ayala Corporation's AC Logistics Holdings Corp., and CEMEX Philippines have teamed up to develop, construct, operate, and maintain waste management facilities and solutions around the country. In a statement, Ayala Corporation...
