Department of Trade and Industry (MANILA BULLETIN) The Philippines has expanded the list of countries covered with the safeguard measure on cement importation with additional 13 countries, including Indonesia, as sourcing of cheap cement may have been diverted to countries previously exempt from...
Redco Transit Development Pte Ltd. (Redco) of Singapore has terminated its planned acquisition of shares in Makati City Subway Inc. (MCSI) from Philippine Infradev Holdings Inc. (PIHI) and Hong Kong Binjiang Industrial Limited (HK Binjiang). The Philippine Competition Commission (PCC) on March 9,...
Subsection 5 of the P24.2 Billion Cavite-Laguna Expressway (CALAX) , a 7.2-kilometer link from Santa Rosa-Tagaytay Interchange to Silang East Interchange, Cavite has achieved 83% construction progress and will open to motorists by third quarter, 2021. DPWH Sec. Mark A. Villar is joined by...
Philippine Infradev Holdings, Inc. announced that its wholly-owned subsidiary Makati City Subway, Inc. has executed a legally binding Term Sheet with Richer Today, Inc. (RTI) for a new joint venture. In a disclosure to the Philippine Stock Exchange, the firm said the Term Sheet provides that MCSI...
Robinsons Retail Holdings, Inc. (RRHI ) is extending its share buyback program for an additional amount of P2.0 billion to improve shareholder value. In a disclosure to the Philippine Stock Exchange, the Gokongwei group’s retail arm said this will be on top of the P2.0 billion share buyback...
The government’s new infrastructure projects are expected to fuel housing demand outside of Metro Manila, according to one of the country’s top property developers. Red Rosales, president of Bria Homes a subsidiary of Villar-owned Golden MV Holdings, Inc., said the current infrastructure...
Greenergy Holdings Inc., the listed firm of businessman Antonio Tiu, continues to beef up its fintech portfolio with the acquisition of 51 percent of ABS-CBN Corporation’s U-Pay Digital Technologies Inc. for P54 million. The move is part of Greenergy's bold ambition and pivot towards digital...
Robinsons Retail Holdings, Inc. reported a 25.2 percent drop in unaudited consolidated attributable net income to P2.93 billion last year from the P3.92 billion earned in 2019 due to the economic effects of the pandemic. In a disclosure to the Philippine Stock Exchange, RRHI said unaudited...
The local stock market is seen to remain volatile this week due to the upcoming release of earnings results of some index heavyweights as well as the inflation figure for February. “Inflation expectations are expected to be one of the main drivers of the market ahead of the release of the...
Ayala Healthcare Holdings, Inc. (AC Health), through Healthway Philippines, Inc. (HPI), has completed its acquisition of a majority stake of Mercado General Hospital Inc. (MGHI). In a disclosure to the Philippine Stock Exchange, Ayala said it purchased shares from White Knight Holdings, Inc., a...
German firm Siemens Energy is projecting that economies in the Asia Pacific region will immensely propel energy demand growth within the stretch of two decades or until year 2040. Brian Byrne, senior vice president of Siemens Energy Asia Pacific Hub, said “Asia Pacific’s growth aspirations will...
SM Investments Corporation (SMIC) registered a net income of P23.4 billion last year, 48 percent lower than the P44.6 billion earned in 2019. Due to the impact of the COVID-19 pandemic, The firm’s consolidated revenues declined to P394.2 billion in 2020 from P502.0 billion in the year before....
