International Container Terminal Services, Inc. (ICTSI) invested more than P900 million (USD20 million) in information technology (IT) for its flagship Manila International Container Terminal (MICT) over the last 10 years. “The hefty investments in technology are meant to crisis-proof the...
SM Investments Corporation, the flagship of the Sy family, posted a 27 percent growth in consolidated net income to P12 billion in the first quarter of 2022 from P9.5 billion in the same period last year. In a disclosure to the Philippine Stock Exchange, the firm said its consolidated revenues in...
Metro Pacific Investments Corporation (MPIC) reported a 23 percent growth in consolidated core net income to P3.1 billion for the first quarter of 2022 from the P2.5 billion earned in the same period last year. In a media briefing, MPIC Chief Finance, Risk and Sustainability Officer Chaye A....
SM Investments Corporation announced the release of its Integrated Report for 2021 to communicate the value of sustainable business practices across its portfolio. In a statement, the firm said the report features stories on innovation and community support amid the ongoing impacts of the COVID-19...
SM Investments Corporation is bullish about the outlook for business with the revival of economic activities in the country. “We are encouraged by the continued recovery of our businesses which were severely affected by the pandemic. Our expansion plans remain on track and will accelerate as...
SM Investments Corporation’s shareholders have approved the company’s acquisition of Philippine Geothermal Production Company (PGPC) through the merger of SMIC with PGPC owner Allfirst Equity Holdings. In a statement SMIC said the acquisition is in line with its strong commitment to...
SM Investments Corporation, the flagship of the Sy family, remains on the lookout for high growth potential companies in the Philippines to beef up its investment portfolio. “We continue to be cognizant of companies in the Philippines that have the potential for high growth in the country,”...
The Department of Energy (DOE) is eyeing capital flow of roughly $30 billion for the targeted 40,000 megawatts of offshore wind farm projects to be installed in the country until mid-century. According to Senior Energy Undersecretary Felix William Fuentebella, the prospective scale of offshore wind...
#MINDANAO John Tria The amount of foreign direct investment received in a year is a metric often cited by analysts to show investor interest in a particular economy. The recent report that 10.5 billion dollars in foreign direct investment was gained by the country in 2021 is higher than the...
SM Investments Corporation (SMIC) is acquiring 81 percent of Allfirst Equity Holdings Inc. (Allfirst), to gain full ownership of Philippine Geothermal Production Company, Inc. (PGPC), for P15.73 billion. In a disclosure to the Philippine Stock Exchange, SMIC said its Board of Directors has approved...
Metro Pacific Investments Corporation has acquired full ownership of affiliate Landco Pacific Corporation, a real estate developer, through the conversion of receivables worth P429.33 million into equity. In a disclosure to the Philippine Stock Exchange, MPIC said it has entered into deeds of...
A House leader is looking forward to seeing the positive effects of Republic Act (RA) No.11659 or the Public Service Act, which President Duterte signed last week. (Shivendu Shukla/ Unsplash) “Opening up some of our industries like telecommunications, railways, and airlines to full foreign...
