Axelum Resources Corporation, the country’s leading fully-integrated manufacturer and exporter of coconut products, reported a 32 percent drop in attributable net income to P526.41 million last year from P774.81 million in 2019. In a disclosure to the Philippine Stock Exchange, the firm...
SM Investments Corporation (SMIC) has joined a business group of dedicated global sustainability champions through the 50 Sustainability & Climate Leaders campaign with a focus on responding to climate change. This makes SMIC the only Filipino company to join the campaign among countries like...
Ayala firm AC Energy Corporation (ACEN) has formally secured the go-signal of its stockholders on the infusion of P85.93 billion worth of international assets into its fold -- and this will form part of the five-step corporate restructuring plan of the company toward its goal to become the largest...
Filipino motorists will need to stretch their fuel budgets anew as prices at petroleum pumps will rise this week by a scale of P0.60 per liter for gasoline; and P0.70 per liter for diesel. Kerosene, which is an essential commodity for households and key industries, will also go up by P0.85 per...
Philippine industry leaders called on the private sector to take the lead in the country’s digital transformation to ensure safe and sustainable economic recovery. During a virtual roundtable discussion organized by the Stratbase ADR Institute on “The Private Sector as a reliable partner to the...
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...
Billionaire Enrique K. Razon Jr. is not letting his guard down and intends to manage the resources of his port and gaming businesses judiciously, wary of a prolonged pandemic that may last until the end of the year. During the annual stockholders’ meeting of Bloomberry Resorts Corporation, Razon...
Despite the raging pandemic, PHINMA Corporation is raising P2 billion from a bond offering to fund investments as it is optimistic that recent developments will boost economic recovery and growth. During the firm’s annual stockholders’ meeting, PHINMA President and CEO Ramon R. del Rosario Jr....
Philippine Seven Corporation (PSC), the local licensee of 7-Eleven Convenience Stores in the country, incurred a net loss of P419.7 million in 2020, a 129 percent reversal from the P1.44 billion it earned in 2019. In a disclosure to the Philippine Stock Exchange, the firm said “The pandemic...
Local stocks dropped as investors preferred to hold on to cash during the weekend. The main index lost 45.15 points or 0.69 percent to close at 6,494.81 with the Property sector leading the retreat while the Mining and Oil counter advancing the most. Volume remained low with 6.77 billion shares...
The San Miguel Corporation Board of Directors has approved the amendment of the firm’s by-laws to formally transfer the position of Chief Executive Officer from the Chairman to the President. The move formally makes SMC President Ramon S. Ang the official CEO after holding the title of Chief...
The Senate Committee on Energy is requiring the Department of Energy (DOE) to legally justify the approval it bestowed on the transfer of the unloaded 45-percent shareholdings of Chevron Corporation in the Malampaya gas field venture to buyer Udenna Corporation. In a statement to the media, Senator...
