The Asialink Finance Corp. has secured a P125 million credit line from KEB Hana Bank Global, its first financial partnership with a South Korean bank. In a statement on Wednesday, July 10, Eillen Mangubat, Asualink president and chief operating officer, said the agreement aims to bolster the...
Antonio R. Ocampo, Jr. has been appointed as the new president and director of First Metro Investment Corporation, taking over from Jose Patricio A. Dumlao who retired last June 30 after four years with the company. Ocampo, an executive in the Metrobank Group with over 30 years of experience in...
The government’s share of the Philippine Amusement and Gaming Corp. (Pagcor) income increased by a quarter in May amid the gaming industry’s sustained resurgence. According to data from the Bureau of the Treasury, the gaming regulator and operator remitted P3.27 billion to state coffers in May...
The commercial operations of the P7.0 billion Palayan binary geothermal power project of Energy Development Corporation (EDC) will partly quench the energy thirst of the Luzon grid, as this will add up 28.9 megawatts into the system. The facility serves as an expansion of its 140MW Bacon-Manito...
Federal Express Corporation (FedEx) facilities in Clark, Pampanga, will soon be upgraded to boost support for imports and exports from small and medium enterprises and heavy-weight shippers. FedEx has signed an agreement with Luzon International Premiere Airport Development (LIPAD), operator and...
DAVAO CITY – Police apprehended in Kibawe, Bukidnon on Monday the businessman accused of organizing the murder of former Philsaga Mining Corp. president retired Col. Samuel Afdal three years ago. The Bunawan Municipal Police Station in Agusan del Sur identified the suspect as Ryan Marky Baylon,...
Its wings may have already fallen silent since its untimely demise in September last year, but renewable energy (RE) firm Energy Development Corporation (EDC) of the First Gen group has taken a high-principled step of preserving the lasting legacy of “Geothermica”, also nicknamed “Geo”, the...
Ayala-led ACEN Corporation has inked a contract with subsidiary ENEX Energy Corporation (ENEX) for the agreed shares subscription covering 177,544,011 non-voting preferred shares of the latter to be issued at a par value of P1.00 per share. According to ACEN, the shares will be issued from ENEX’s...
The Philippine Amusement and Gaming Corp. (Pagcor) said the privatization of government-operated casinos is set to begin earlier than initially projected, with a target start date in May next year. At the 2024 SiGMA Asia Summit, Alejandro H. Tengco, Pagcor chief executive and chairman, said that...
The Philippine Amusement and Gaming Corp. (Pagcor) said that brick-and-mortar casinos will remain relevant despite the strong growth of online casinos. At the 2024 SiGMA Asia Summit, Alejandro H. Tengco, Pagcor chairman and chief executive, said people's innate need for connection and closeness...
Filipino-led renewable energy (RE) firm NexGen Energy Corp. (XG) had secured regulatory approvals for its initial public offering (IPO), which will wind up at its July 16 listing at the local bourse. The company announced that it cornered both the go-signal of the Securities and Exchange Commission...
While its corporate life will already end in two years, the outstanding financial obligations of state-run Power Sector Assets and Liabilities Management Corporation (PSALM) is still at a whopping P292.486 billion as of end-April this year. According to the company, its total debts stand at P254.6...
