Real estate giant Ayala Land Inc. (ALI) is infusing into AREIT Inc. (AREIT) two malls—Ayala Malls Feliz in Pasig City and Ayala Center Cebu—worth ₱19.5 billion in exchange for new shares, so that retail will now account for over half of the real estate investment trust’s (REIT) portfolio....
The ongoing corruption scandal in flood control projects and uncertainties in tariffs by the United States (US) are making investors hesitant to pour capital into the country’s electronics industry, according to a prominent industry group. The Semiconductor and Electronics Industries in the...
The Po family is consolidating its business empire, using their holding company, Zephryn Holdings Inc., to acquire a controlling 45.7 percent stake in investment arm Century Pacific Group Inc. In a disclosure to the Philippine Stock Exchange, CPGI subsidiaries Century Pacific Food Inc. and...
D&L Industries Inc. has been recognized by the Institute of Corporate Directors (ICD) for the sixth consecutive year for its exemplary corporate governance practices based on the Association of Southeast Asian Nations (ASEAN) Corporate Governance Scorecard (ACGS). The firm said in a disclosure to...
The Securities and Exchange Commission (SEC) has approved a stock split for Globe Fintech Innovations Inc. (Mynt), the owner of GCash, a move intended to lower the per-share price and make the stock more affordable for its long-anticipated initial public offering (IPO). In a disclosure to the...
Mobile wallet giant GCash has denied reports that its users ' personal data was compromised and allegedly sold on the dark web, asserting that its systems remain intact and that no data breach has occurred. In a statement on Monday, Oct. 27, GCash said that initial forensic analysis “shows...
GT Capital Holdings Inc. (GT Capital) has signed a memorandum of agreement (MOA) with Ateneo de Manila University (ADMU) to put up a new Ateneo campus at Riverpark, a township of wholly owned subsidiary Federal Land Inc. in General Trias City, Cavite. In a disclosure, GT Capital said the new...
Top Philippine lender BDO Unibank, Inc. grew its profits in the first nine months of the year amid solid performance in its main banking operations and investments to improve technology and open more branches. In a disclosure to the Philippine Stock Exchange, BDO reported that it posted a four...
Ports, gaming, and infrastructure magnate Enrique K. Razon Jr. has found a buyer for his casino in South Korea, Jeju Sun Hotel & Casino, which is owned through an indirect subsidiary of Bloomberry Resorts Corp. In a disclosure to the Philippine Stock Exchange (PSE), Bloomberry said its South...
Metro Manila’s West Zone concessionaire Maynilad Water Services, Inc. has decided to exercise in full the ₱5.32 billion upsize portion of its ₱34.33 billion initial public offering in response to strong investor demand for the firm’s stock. In a statement, Maynilad said that, after the...
The Gokongwei Group’s Robinsons Retail Holdings, Inc., posted a 3.9 percent improvement in core net earnings to ₱4.2 billion in the first nine months of the year, with the growth driven by gross margin expansion. In a disclosure to the Philippine Stock Exchange, the firm said core net earnings...
Megaworld Corp. plans to expand its real estate investment trust MREIT Inc. by transferring 10 office buildings valued at approximately ₱20 billion in exchange for newly issued shares. In a disclosure to the Philippine Stock Exchange, MREIT said it is looking to issue and list up to 1.36 billion...
