Meralco PowerGen Corporation (MGEN), a power generation investment subsidiary of Manila Electric Company (Meralco) has acquired 86-percent shareholdings of affiliate firm Global Business Power Corporation (GBP) for P34.466 billion. The stake acquisition by MGEN was carried out through the transfer...
Local share prices continued to weaken due to concern over the rising number of cases of a new strain of COVID in the UK. (Photo credit: https://www.pse.com.ph) The main index shed 22.50 points or 0.31 percent to close at 7,202.39 with only the Property index rising. Volume was higher at 22.72...
Carmen Copper Corporation (CCC), an operating mine of Atlas Consolidated Mining Development Corporation (ACMDC) based in Toledo City, Cebu, confirmed that around that a slide happened at its Carmen Pit in the afternoon of December 21, 2020. In a statement, CCC said the slide at its mine operations...
Having an important role in helping boost recovery during this pandemic, Small Business Corporation (SBCorp), the financing arm of the Department of Trade and Industry (DTI), was assigned a high Issuer Credit Rating of PRS A minus (corp.). Philippine Rating Services Corporation...
Just several days before Christmas and Filipino consumers will still need to fork out more cash for their fuel expenses this week as diesel prices will be up by P0.85 per liter; and diesel by P0.75 per liter. The oil firms also sent notices that the price of kerosene will go higher by P0.80 per...
SM Prime Holdings Inc. is planning to raise up to P10 billion from the issuance of bonds representing the second tranche of its Three-year Shelf Registration Debt Securities Program (DSP) of up to P100.0 billion Philippine Rating Services Corporation (PhilRatings) said it has assigned the...
Local shares weakened slightly Friday after failing to breach the 7,300 level. The Philippine Stock Exchange index (PSEi) retreated 25.22 points, or 0.35 percent, to close at 7,272.80 with sectoral indices evenly mixed. Photo credit: (https://www.pse.com.ph/) Volume rose to 23.55 billion shares...
SL Agritech Corporation (SLAC), the country's biggest hybrid rice seeds producer, has returned to the local debt market to raise P2 billion, capping this year’s listing at the country’s bond bourse, Philippine Dealing & Exchange Corp. (PDEx). As a result, PDEx President and Chief Operating...
Transmission firm National Grid Corporation of the Philippines (NGCP) has completed and energized the 230-kilovolt Toril-Bunawan transmission line, which forms the final loop of the P7.09 billion Mindanao backbone project. With the project’s completion, the company noted that “this will secure...
Ayala Corporation revealed more about its succession plan with the announcement that Chairman Jaime Augusto Zobel de Ayala (JAZA) will be giving up his concurrent position as Chief Executive Officer in favor of his brother, Ayala President Fernando Zobel de Ayala (FZA). In a disclosure to the...
Gotianun-owned FDC Misamis Power Corporation, a power investment subsidiary of the Filinvest Corporation, had been hailed as ‘top taxpayer’ in Misamis Oriental, the host province of its 405-megawatt coal-fired power plant in Mindanao grid. The company has been awarded “number one real estate...
Lopez Holdings Corporation has formally filed a petition for voluntary delisting of its 4.63 billion common shares from the main board of the Philippine Stock Exchange (PSE). In a disclosure to the Philippine Stock Exchange, the firm said the delisting is conditioned on the public float...
