Singapore-based Aleta Planet, a certified member of UnionPay International, is eyeing Greenergy Holdings, Inc. (GREEN) of agri-entrepreneur Antonio Tiu as partner for the issuance of virtual cards as well as cross-border money remittance services. Under the proposed collaboration, Aleta Planet will...
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...
Local businesses are strongly supporting initiatives to reopen further the Philippine economy, which has suffered from long lockdowns and quarantines due to COVID-19. “We, the undersigned, express our strong support for the initiatives of the Duterte administration to open the Philippine economy...
Businessman Tomas I. Alcantara has retired as chairman and president of publicly listed Alsons Consolidated Resources Inc. (ACR), one of the country’s largest conglomerates, effective March 1 this year due to health reasons. Tomas I. Alcantara (Photo credit: https://www.acr.com.ph) Taking his...
Robinsons Retail Holdings Inc. has expanded its e-commerce site gorobinsons.ph to include DIY format Handyman Do it Best and No Brand, a franchise from EMart of Korea. In a disclosure to the Philippine Stock Exchange, RRHI said that, with the inclusion of Handyman Do it Best on the platform,...
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...
Cebu Air Inc., the firm behind carrier Cebu Pacific, has set the final price range for its planned P12.5 billion rights offering of convertible preferred shares at P38.00 per entitlement right. In a disclosure to the Philippine Stock Exchange, Cebu Air said it is offering 328.95 million...
The Department of Agriculture (DA) has been formally asked by its legally mandated arm for stakeholders' participation, Philippine Council for Agriculture and Fisheries (PCAF), to withdraw its petition to lower import tariff rates on pork. Instead, PCAF is proposing for the government to allow the...
Employers are now looking at 2022 as recovery year instead of 2021 due to the “very slow” reopening of business with the medical and the military making decisions for the domestic economy. ECOP President Sergio Ortiz-Luis Jr. In the regular weekly “Tapatan sa The Aristocrat” virtual forum...
Cemex Holdings Philippines Inc. (CHP) reported a decline in consolidated net income to P985 million last year from P1.3 billion in 2019 due to the negative impact of the COVID-19 pandemic on cement prices and volumes. In a disclosure to the Philippine Stock Exchange, the firm said its...
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...
SPEAKING OUT Ignacio R. Bunye In a recent award ceremony, the Securities and Exchange Commission (SEC) and the Institute of Corporate Directors (ICD) lauded four Ayala companies for leading the way in terms of corporate governance in the country. Ayala Land, Inc. (ALI) and Globe Telecom made it to...
