Del Monte Pacific Ltd. agreed to sell its 14.38 percent stake in India’s Sundrop Brands Ltd. in a three-part deal valued at approximately ₱2.5 billion, part of a strategy to offload non-core assets and shore up its balance sheet. In a disclosure to the Philippine Stock Exchange, the food and...
The Securities and Exchange Commission (SEC) has ordered Trading Point Holdings Ltd., which operates under the name XM, XM Global Ltd., and XM Philippines, to cease its unauthorized solicitation of investments from the public immediately. In a cease-and-desist order (CDO), the SEC directed the XM...
Del Monte Pacific Ltd. (DMPL) reported that its net earnings surged more than seven-fold to $22.3 million in the first half of its current fiscal year (FY) ending April 2026, from $2.7 million in the same period a year ago, as a result of stronger sales and higher margins after writing off its...
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...
The Philippine Stock Exchange (PSE) has lifted the suspension on the trading of the shares of Del Monte Pacific Ltd. (DMPL) after accepting the firm’s explanation that Ernst & Young’s audit disclaimer concerns only its discontinued US business, which will not impact its continuing operations in...
Del Monte Pacific Ltd. (DMPL) is asking the Philippine Stock Exchange (PSE) to lift the suspension of trading of its shares despite the audit disclaimer of Ernst & Young for its annual report. “The audit disclaimer pertains only to discontinued operations of the US [United States] business for FY...
Del Monte Pacific Limited’s external auditor, Ernst & Young LLP of Singapore, has issued a disclaimer of opinion on the group’s financial statements for the fiscal year ending April 2025, primarily due to the valuation of the company’s US assets that are up for sale. “In view of the...
Del Monte Pacific Limited is on track to achieve a full year of higher sales and profitability following the deconsolidation of its United States business, as well as the strength and momentum of its Philippine and international businesses. “Our strong first quarter performance underscores Del...
RCBC Leasing and Finance Corp. (RLFC), a wholly owned subsidiary of Rizal Commercial Banking Corp.(RCBC), is using fresh capital infused by Japan’s Sumitomo Mitsui Finance and Leasing Company, Limited (SMFL) to fund its nationwide expansion in the next five years. Last month, RLFC and SMFL...
Sumitomo Mitsui Financial Group Inc. (SMFG), through Sumitomo Mitsui Finance and Leasing Co. Ltd. (SMFL) is acquiring a 30-percent equity stake in RCBC Leasing and Finance Corp. (RLFC) of Yuchengco-led Rizal Commercial Banking Corp. (RCBC). In a disclosure to the Philippine Stock Exchange (PSE),...
Indian dyes and chemicals company Kiri Industries Limited (KIL) is exploring the prospect of expanding in the Philippines through an integrated copper smelting, refining, and fertilizer production facility, according to the Department of Trade and Industry (DTI). In a statement, the DTI said KIL...
Macau-based Melco Resorts & Entertainment Ltd. is talking to about two prospective buyers or investors for its City of Dreams Manila integrated resort, which it is operating using the property of Belle Corp. and the license of Premium Leisure Corp., both of the SM Group. “At the moment, as far...
