Recently-delisted conglomerate Metro Pacific Investments Corporation expects to continue posting double digit growth this year after it reported a 90 percent surge in consolidated net income to a record P19.9 billion last year from P10.5 billion in 2022. MPIC Chairman, President, and CEO Manuel V....
Philex Mining Corporation, the gold and copper producer controlled by tycoon Manuel V. Pangilinan through First Pacific Company, reported a 44.4 percent drop in core net income to P963 million last year from P1.73 billion in 2022 due to lower output from its Padcal mine. Philex Mining Corporation's...
The Zobel-controlled Ayala Group continues to beef up its warchest and hopes to raise $250 million to $400 million from the divestment of its smaller investments as it focuses on the expansion of its ventures into renewable energy, electric vehicles, healthcare, and logistics. In an interview,...
MGen Renewable Energy Inc. (MGreen), a unit of Manila Electric Company (Meralco), has bought an additional 2.17 billion shares in SP New Energy Corporation (SPNEC) from Solar Philippines Power Project Holdings Inc. for P2.5 billion. In a disclosure to the Philippine Stock Exchange (PSE), SPNEC said...
Billionaire Fernando Zobel de Ayala, Board Director of the country’s oldest conglomerate Ayala Corporation, has been conferred the Pro Ecclesia et Pontifice (For Church and Pope), the highest honor the Pope bestows upon a layperson. Ayala Corp. Director Fernando Zobel de Ayala receives Pope's...
Tycoon Manuel V. Pangilinan has assumed the leadership of SP New Energy Corp. (SPNEC) following the completion of Manila Electric Co.'s (Meralco) investment in the renewable energy firm. In a disclosure to the Philippine Stock Exchange (PSE) on Wednesday, Dec. 27, SPNEC has announced that MGen...
Tycoon Manuel V. Pangilinan has taken over the helm of SP New Energy Corporation (SPNEC) after Manila Electric Company (Meralco), through MGen Renewable Energy (MGreen), completed its acquisition of a controlling stake in the solar energy firm for P15.9 billion. In a disclosure to the Philippine...
Metro Pacific Investments Corporation (MPIC), through wholly-owned subsidiary Metro Pacific Agro Ventures Inc. (MPAV), has amended its agreement to acquire a strategic stake in coconut products producer Axelum Resources Corp. by subjecting the acquisition to profitability targets. While Axelum...
SP New Energy Corp. (SPNEC) has acquired all of the shares of Prime Infrastructure Inc. (Prime Infra) in their joint venture firm Terra Solar Philippines Inc. (TSPI) for P6 billion to build the world’s largest solar project at a cost of about P200 billion. In a disclosure to the Philippine Stock...
Manuel V. Pangilinan, the current chairman of the PLDT Group, will serve as the President and Chief Executive Officer (CEO) of PLDT and Smart Communications Inc. following the retirement of incumbent head Alfredo S. Panlilio. PLDT Chairman Manny V. Pangilinan In a disclosure to the Philippine...
The Philippine Stock Exchange (PSE) has lifted the suspension on the trading of the shares of SP New Energy Corporation (SPNEC) on Friday, Dec. 1, after the firm reported that its public float has been raised to 20.02 percent to meet the minimum public ownership requirement of 20 percent. ...
Metro Pacific Tollways Corporation (MPTC), a subsidiary of Manuel V. Pangilinan-controlled conglomerate Metro Pacific Investments Corporation (MPIC), needs to raise about $600 million if its bid to invest in a major tollway company in Indonesia is successful. In a virtual briefing, MPTC Chief...
