The local stock market is seen to remain volatile this week due to the upcoming release of earnings results of some index heavyweights as well as the inflation figure for February. “Inflation expectations are expected to be one of the main drivers of the market ahead of the release of the...
Ayala Healthcare Holdings, Inc. (AC Health), through Healthway Philippines, Inc. (HPI), has completed its acquisition of a majority stake of Mercado General Hospital Inc. (MGHI). In a disclosure to the Philippine Stock Exchange, Ayala said it purchased shares from White Knight Holdings, Inc., a...
Smart Communications Inc. has tripled the number of its 5G sites nationwide to over 1,400, including Baguio and Cagayan de Oro, the telco announced Friday, (Feb. 26). These include 5G sites recently fired up in Benguet, Misamis Oriental and Zamboanga Sibugay. Already, Smart has deployed 5G sites in...
SM Investments Corporation (SMIC) registered a net income of P23.4 billion last year, 48 percent lower than the P44.6 billion earned in 2019. Due to the impact of the COVID-19 pandemic, The firm’s consolidated revenues declined to P394.2 billion in 2020 from P502.0 billion in the year before....
The Department of Environment and Natural Resources-Environmental Management Bureau in Region 10 (DENR-EMB 10) has lauded FDC Misamis Power Corporation (FDC Misamis) for the man-made forest it built in the province To be specific, DENR cited the forest management and reforestation programs of FDC...
East Zone concessionaire Manila Water Company, Inc. has started the construction of its 42nd sewage treatment plant, which will cost P4.2 billion to build. In a statement, Manila Water said it already broke ground for the construction of Mandaluyong West Sewerage System Project, which is...
Integrated Micro-Electronics, Inc. (IMI), the manufacturing arm of the Ayala Group, reported that its net loss narrowed to $3.5 million last year from $13.2 million in 2019 on the back of a strong fourth quarter. Photographer: SeongJoon Cho/Bloomberg In a disclosure to the Philippine Stock...
Real estate giant Ayala Land Inc. posted a 74 percent drop in net income to P8.7 billion last year from P33.2 billion in 2019 but is increasing capital expenditures as it is optimistic of a recovery in 2021. In a media briefing, ALI President and CEO Bernard Vincent O. Dy said the firm endured...
The Securities and Exchange Commission (SEC) has approved Aboitiz Power Corporation’s planned issuance of fixed-rate bonds worth up to P30 billion. The SEC said AboitizPower may issue the debt securities in one or more series within three years. For the first tranche, the listed...
Eight firms under the SM group of companies received Golden Arrow Awards from the Institute of Corporate Directors (ICD) for performing well in the ASEAN Corporate Governance Scorecard (ACGS). In a statement, the conglomerate said this is an assessment benchmarked against international best...
AREIT, Inc. (AREIT), the real estate investment trust of Ayala Land, Inc. (ALI), reported a net income of P1.23 billion last year, up 42 percent if excluding a one-time gain in 2019. In a disclosure to the Philippine Stock Exchange, the firm said the higher profit is on account of its stable...
Century Pacific Food, Inc. (CNPF) continues to promote unMEAT, its range of 100 percent plant-based meat products, in the hopes of tapping into the food’s growing global market. The firm said in a statement that its new plant-based range is in response to the expandingconsumer preference for...
