The P162-million system upgrade of Subic-Clark-Tarlac Expressway (SCTEX) will be completed within the year, NLEX Corporation announced Monday, June 6. The project, which started in 2020, includes the upgrading of the radio frequency identification (RFID) system and network switches, the...
A World Bank study recommending reforms in the Philippine Crop Insurance Corp. (PCIC) has found that the state-run firm’s current approach to agricultural insurance neither provides value for money to taxpayers nor adequate protection to farmers. The PCIC is also “very exposed to catastrophe...
Gokongwei-led private investment firm JE Holdings, Inc. has secured the approval of the Insurance Commission for the acquisition of a stake in Maxicare Healthcare Corp. In a statement on Friday, June 3, Insurance Commissioner Dennis B. Funa said the Gokongwei family, through JE Holdings, now owns...
AyalaLand Logistics Holdings Corporation (ALLHC), the industrial real estate arm of Ayala Land Inc., is expanding its portfolio with the acquisition of 55 hectares of land in Batangas for P677.69 million. In a disclosure to the Philippine Stock Exchange, ALLHC said the acquisition was made through...
A solon has filed a resolution urging the House Committee on Good Government and Public Accountability to probe the alleged illegal claims and onerous changes to the government contract of DM Wenceslao Corp. against the Philippine Reclamation Authority (PRA) in connection with the Central Bay...
Megaworld Corp. said the impending issuance of a closure notice against the property company has been clarified and resolved with the Bureau of the Internal Revenue (BIR). Francisco C. Canuto, Megaworld compliance and corporate information officer said in a statement that the company has reached...
Increased Information Technology (IT) services demand coupled with a respectable 9 percent increase in its subscriber base enabled diversified telecommunications firm PT&T to haul in P520.74 million revenues in 2021, up 19 percent from the preceding year's P438.62 million. The company also...
Ayala Land, Inc. subsidiary AyalaLand Logistics Holdings Corp. (ALLHC) and FLOW Holdings I Philippines Pte. Ltd., the vehicle of FLOW Digital Infrastructure, have signed a framework agreement to develop carrier-neutral data centers across the Philippines. In a disclosure to the Philippine Stock...
Motorists using the Manila-Cavite Toll Expressway (CAVITEX) and the North Luzon Expressway (NLEX) have to pay increased toll rates, effective Thursday, May 12, 2022. Based on the new toll fee matrix (VAT-Inclusive) of CAVITEX, motorists shall now pay P33.00 for Class 1 vehicles from the current...
NLEX Corporation has invested P6.9 billion for the upgrade, repair, and maintenance of NLEX-SCTEX, the tollway operator stated Saturday, May 7. From 2015 to date, NLEX Corp. spent a total of P3.4 billion for capital expenditures and P3.5 billion for the annual pavement maintenance program and other...
The Philippines Amusement and Gaming Corp. (Pagcor) has no plan to ask President Duterte to reconsider his order that stopped online cockfighting operations, known as e-sabong. Andrea D. Domingo, Pagcor chair and chief executive officer said on Tuesday, May 3, that the gaming regulator will...
AyalaLand Logistics Holdings Corp. (ALLHC), a subsidiary of Ayala Land Inc. (ALI), reported a 19 percent improvement in net income to 197 million in the first quarter of 2022 from P165 million in the same period last year. In a disclosure to the Philippine Stock Exchange, the firm said consolidated...
