SM Investments Corporation (SMIC) has taken control over 2Go Group Inc. with the completion of the divestment of Dennis A. Uy from the company in favor the Sy family’s investment arm and Singapore private equity fund Archipelago Capital Partners Pte. Ltd. In a disclosure to the Philippine Stock...
Alliance Global Group, Inc. (AGI) registered a 20 percent drop in net profit to P3.2 billion in the first quarter of 2021 from the P4 billion earned in the same period last year. In a disclosure to the Philippine Stock Exchange, the firm said its profits declined as the global pandemic continues to...
Century Properties Group Inc. reported a 29 percent drop in net income to P205 million for the first quarter of 2021 from P290 million in the same period last year. In a disclosure to the Philippine Stock Exchange, the firm said earnings were supported by the continued strong performance of its...
Six Philippine companies, led by the Sy family’s SM Investments Corporation and BDO Unibank, made it to Forbes Magazine’s 19th annual Global 2000 list. The list is an international ranking of the world's biggest, most-powerful and most-valuable companies based on an analysis of four metrics:...
Cebu-based Metro Retail Stores Group, Inc. (MRSGI) suffered a net loss of P126.47 million in the first quarter of 2021 from the P7.98 million profit earned in the same period last year. In a disclosure to the Philippine Stock Exchange, the firm said lowered customer traffic due to quarantine...
International Container Terminal Services Inc. and Alliance Global Group Inc. denied that there is any dispute between the two groups over the planned construction of a mega vaccination center on land owned by Nayong Pilipino at the Entertainment City. Allegations against the project...
LT Group, Inc., the investment holding company of taipan Lucio Tan, reported a 4.5 percent improvement in attributable net income to P6.49 billion in the first quarter of 2021 from the P6.21 billion earned in the same period last year. In a disclosure to the Philippine Stock Exchange,...
Alliance Global Group, Inc. (AGI), the holding company of tycoon Andrew Tan, reported a 62 percent drop in net income to P10.3 billion last year compared to the P27.1 billion earned in 2019 as the pandemic hit most of its businesses. In a disclosure to the Philippine Stock Exchange, AGI said...
LT Group, Inc. (LTG), the flagship of taipan Lucio Tan, is almost doubling its capital expenditures budget in 2021 as it is optimistic that the local economy will improve this year. During the firm’s annual stockholders’ meeting, LTG President and Chief Operating Officer Michael G. Tan said...
The local stock market is seen to continue to be weighed down by concerns over the COVID-19 pandemic although upcoming annual stockholders’ meeting may also influence investors depending on the tone they set. “Next week, we still see a downward bias for the local market as pandemic worries are...
Cebu-based retailer Metro Retail Stores Group, Inc. (MRSGI) suffered a net loss of P449.6 million last year from the net income of P775.6 million recorded for 2019. In a disclosure to the Philippine Stock Exchange, the firm said the decline was due to a pandemic-driven 15.0 percent decrease in net...
Max’s Group, Inc., the country’s largest casual dining restaurant group suffered a net loss of P1.68 billion last year from a net income of P724.23 million in 2019 due to the pandemic and a one time loss. In a disclosure to the Philippine Stock Exchange, the firm said the 2020 loss includes...
