SM Investments Corporation (SMIC) is acquiring the 31.73 percentstake of Chelsea Logistics and Infrastructure Holdings Corporation in 2GO Group Inc., for about P6.64 billion, to gain control of the shipping and logistics firm. In a disclosure to the Philippine Stock Exchange, SMIC said...
TRINX Bicycle Sport Technology Corp. (TBSTC), a 60-40 Filipino-Chinese joint venture, is investing P356.4 million in the Philippines for the production of various types of bicycles for export and domestic markets. The Board of Investments (BOI) has approved the registration of TRINX, which...
Volkswagen Philippines, one of the motor vehicle units of the Ayala Group, strongly pivots this year to the distribution of more affordable but of same quality vehicles from China or other markets with less “friction cost” rather than from their products’ source of origin, Germany. Felipe...
Senator Sonny Angara is pushing for the measure seeking to increase the deposit insurance coverage provided for by the Philippine Deposit Insurance Corp. (PDIC). Sen. Sonny Angara (Alexis Nueva España / Senate PRIB / FILE PHOTO) With more Filipinos now putting their money in banks, Angara said the...
Mitsubishi Motors Philippines Corp. (MMPC), the country’s second largest car company, has issued a public advisory requiring buyers to post provisional cash deposit on brand new motor vehicle purchases affected by the provisional safeguard duty imposed by the government. In the public...
Despite the safeguard measure, Isuzu Philippines Corp. (IPC) has set a bullish 15 percent market share this year for its All-New D-MAX, almost doubling the current 8 percent market share. IPC Vice-President for Sales, Yasuhiko Oyama announced the digital debut of the imported completely built-up...
AyalaLand Logistics Holdings Corp. (ALLHC) reported a 10 percent growth in net income to P702 million last year from P641 million in 2019 as operations of its industrial estates, logistics and office facilities continued amid the pandemic. In a disclosure to the Philippine Stock Exchange, ALLHC...
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...
Cavitex Infrastructure Corporation (CIC) is doing double time early this year to complete new segments of the P15.3 Billion, 7.7 kilometer Manila-Cavite Expressway (Cavitex) C-5 Link Expressway by second quarter, 2022. "We are doubling our efforts on the construction of Segment 2 and Segment 3A-2...
The Department of Trade and Industry through the Board of Investments (BOI) is exploring a P7-billion investment lead purportedly for a vaccine production project in the Philippines between a local pharma distributor company and LG, a leading Korean chaebol engaged largely in the electronics...
Smart Communications, Inc. (Smart) launched its 5G roaming service in South Korea in partnership with KT Corp., Korea's largest telecommunications company. This year, as the world prepares to ease travel restrictions amid the worldwide vaccine rollout, Smart plans to launch more 5G roaming...
Ayala Corporation Chairman and CEO Jaime Augusto Zobel de Ayala has been welcomed into the Council for Inclusive Capitalism by the Vatican and the global non-profit coalition of business and public sector leaders. The council is working to build a “more trusted, fair, responsible, dynamic, and...
