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....
Eight firms under the SM group of companies received Golden Arrow Awards from the Institute of Corporate Directors (ICD) for performing well in the ASEAN Corporate Governance Scorecard (ACGS). In a statement, the conglomerate said this is an assessment benchmarked against international best...
New committed investments approved by the Philippine Economic Zone Authority (PEZA) in January this year soared 139 percent, but there are still over 300,000 workers displaced from the continued non-operation of more than 300 locators. PEZA Director General Charito B. Plaza said in her State...
The Bangko Sentral ng Pilipinas (BSP) reported Monday that gross international reserves (GIR) dipped to $108.799 billion in January from December 2020’s $110.117 billion due to government withdrawals to pay for foreign-denominated loans, and changes in the price of gold. The BSP in a statement...
Central Azucarera de San Antonio (CASA), a sugar mill owned by the Chan family of Iloilo, is planning to a P558.5-million public offering of shares although these will not be listed at the stock exchange. Documents filed with the Securities and Exchange Commission show, CASA is controlled by the...
Seven members of the SM Group of Companies, led by flagship SM Investments Corporation (SMIC), clinched 10 awards for their high scores in the recently concluded 2019 ASEAN Corporate Governance Scorecard (ACGS) assessments. For the 2019 ACGS Assessment, three award categories were recognized:...
Michael Gerard “Mike” Enriquez Sun Life Philippines expects the Philippine economy to undergo a “U-shaped,” a longer type of recovery and a return to trend line growth in the next two years. Michael Gerard D. Enriquez, Sun Life chief investments officer, said the country’s economy,...
SB Capital Investment Corporation (SB Capital), the investment arm of Security Bank Corporation (SBC), was recently recognized by The Asset and FinanceAsia Awards for its participation in several fund-raising activities. In a statement, SBC said SB Capital was cited for its role as lead arranger,...
(Ali Vicoy/Manila Bulletin) The Philippines net foreign direct investments (FDIs) declined by 8.6 percent to $4.832 billion for the first three quarters this year as against $5.289 billion in the same period last year as the COVID-19 pandemic continued to dampen investor sentiments. “The decline...
A tripartite agreement was signed today for the private sector donation to the government of 3-million dosage of COVID-19 vaccine, estimated to cost P700 million. The agreement “Angat Lahat: A Dose of Hope” was signed today by Presidential Adviser for Entrepreneurship and Nego Negosyo...
Trade and Industry Undersecretary Ceferino S. Rodolfo The Board of Investments (BOI), the country’s premier investment promotion and generation agency, is confident of hitting its P1 trillion investments target this year despite the pandemic that has slowed down domestic and global businesses....
In the midst of a pandemic that halted most business activity for months, 21 Filipino companies managed to maintain their sustainability initiatives and win at the recent Asia Corporate Excellence & Sustainability (ACES) Awards. In awarding ceremonies held online last 10 November, 21 companies...
