The Securities and Exchange Commission (SEC) has issued for public comment its draft amendments to the rules governing real estate investment trusts (REITs), expanding the list of allowable assets and relaxing limitations on public ownership and the reinvestment period. The Commission released the...
Despite prevailing market uncertainties, Investment & Capital Corp. of the Philippines (ICCP) remains cautiously optimistic and projects a potential rebound in the Philippine Stock Exchange index (PSEi) to the 6,300 to 6,400 range over the coming six months. ICCP President and Chief Operating...
Malacañang made an assurance that President Marcos will take appropriate action on the issues surrounding the Government Service Insurance System (GSIS), including the reported P8.8-billion loss in investments. The allegations will not be ignored by the President, Palace Press Officer and...
Alcantara-led Alsons Development and Investment Corp. (Alsons Dev) is finally starting the redevelopment of the 60-year-old Aldevinco Shopping Center site, which used to be popular among tourists hunting for souvenirs and handicraft from Mindanao’s ethnic minorities. In a statement, Alsons Dev...
Saavedra-led infrastructure and engineering firm Megawide Construction Corp. has completed its acquisition of 9.88 percent of affiliate Citicore Renewable Energy Corp. (CREC), effectively gaining a new revenue source from solar power. In a disclosure to the Philippine Stock Exchange, Megawide said...
Net inflows of brick-and-mortar foreign direct investments (FDI) in the Philippines rebounded in July to a one-year high of $1.27 billion, recovering from a six-month low in June. Despite this record, net FDI inflows declined by 7.5 percent from $1.37 billion in July last year, according to...
Hong Kong-listed CSC Holdings Ltd., through CS Capital Investment Pte. Ltd., has completed its acquisition of a 26.3 percent stake in the Cabagangon group’s Citystate Savings Bank, Inc. In a disclosure to the Philippine Stock Exchange, CSBank announced that it was informed of the completion of...
Saavedra-led Megawide Construction Corp. is firming up its balance sheet after parent company Citicore Holdings Investment Inc. (CHII) and sister company Citicore Power Inc. (CPI) paid back ₱9.4 billion for advances made by the engineering firm in 2016. In a disclosure to the Philippine Stock...
Net inflows of brick-and-mortar foreign direct investments (FDI) into the Philippines only increased to $376 million, marking its lowest hike in six months since the $356 million in December last year. Net FDI inflows declined by 17.8 percent from $457 million in June last year, according to the...
President Marcos has signed into law Republic Act No. 12252, amending the Investors’ Lease Act to allow foreign investors to lease private lands in the Philippines for up to 99 years, under stricter safeguards and accountability measures. The new measure, approved on Sept. 3, aims to encourage...
Maharlika Investment Corp. (MIC) has entered into a partnership with Saudi Arabia-backed ACWA Power to develop renewable energy (RE) projects that will bring electricity to off-grid islands in the Philippines. In a LinkedIn post on Sunday, Aug. 24, MIC President and Chief Executive Officer (PCEO)...
Global investors are flocking to the Philippines due to the country 's booming luxury tourism sector and promising high-return investment opportunities, the Department of Tourism (DOT) said. DOT Secretary Christina Garcia-Frasco said incentives under the CREATE More Act, rising hotel demand,...
