Two subsidiary firms of diversifying conglomerate San Miguel Corporation (SMC) tendered the lowest bid for the competitive selection process (CSP) for the supply of 1,800 MW power capacity to Manila Electric Company (Meralco) over a 20-year year period. The winning SMC companies are...
The local stock market fell Thursday, (February 18) as investors are jittery over developments here and overseas. The PSEi lost 116.79 points or 1.68 percent to close at 6,849.64 although the Financials and Mining and Oil counters advanced. Volume dropped to 16.62 billion shares worth...
Life, at times, would bring existential twists. And once you are usurped by Divine prerogatives, you can either be knocked down or you can take that injunction of helping others – so they too may live on and thrive. That became the guiding light for billionaire and San Miguel Corporation...
The Securities and Exchange Commission (SEC) has approved the P14.71 billion initial public offering (IPO) of DoubleDragon Properties Corporation’s real estate investment trust (REIT). The SEC En Banc resolved to render effective the registration statement of DDMP REIT, Inc. for 17.83 billion...
The local stock market gave up most of the previous day’s gains Wednesday, (Feb. 17) as investors went back to selling mode. The main index fell 77.63 points or 1.1 percent to close at 6,966.43 as all counters retreated, led by the Financials and Property sectors. Volume remained high at...
Jollibee Foods Corporation (JFC), one of the largest Asian food service companies, is acquiring a 50 percent stake in the Philippine franchise of the popular Yoshinoya restaurant of Japan. In a disclosure to the Philippine Stock Exchange, JFC said it will establish a 50-50 joint venture with...
San Miguel Corporation (SMC) announced that it has distributed over 70,000 “nutribuns” to poor communities as part of its ongoing efforts to provide food aid for Filipinos struggling to cope with the impact of the pandemic. “It’s been almost a year since the pandemic started,...
The local stock market bounced back to the 7,000 level as global stocks rallied. The PSEi hiked 84.85 points or 1.22 percent to close at 7.044.06 as sub-indices rose across the board. A hefty 21.86 billion shares worth P18.16 billion changed hands as gainers beat losers 122 to 89 with 54...
The 414-megawatt San Gabriel gas-fired power plant of First Gen Corporation has been synchronized back to the grid this week, following a five-month shutdown due to the technical glitch it suffered from since five months ago. In a disclosure to the Philippine Stock Exchange (PSE), the Lopez firm...
SM Prime Holdings, Inc. (SM Prime), one of the leading integrated property developers in Southeast Asia, reported a P18.0 billion consolidated net income for 2020 versus P38.1 billion in the previous year. In a disclosure to the Philippine Stock Exchange, the firm said its consolidated revenues...
The stock market weakened as investors continued to pocket gains while waiting for more cues to buy up stocks. Photo credit: https://www.pse.com.ph The main index dropped 31.8 points or 0.45 percent to close at 6,959.21 with only the Financials and Mining and Oil counters holding their...
Jollibee Foods Corporation reported an attributable net loss of P11.5 billion last year, 257 percent lower than the P7.3 billion earned in the same period of 2019 due to the impact of the COVID-19 pandemic. However, the firm is optimistic of a recovery this year and has set a capital expenditure...
