The Consunji Group has sealed the deal to acquire a controlling 89.86 percent of Cemex Holdings Philippines Inc. (CHP), the fourth largest cement manufacturer in the country, for $305.6 million in cash after weeks of stock market speculation. In a disclosure posted by the Philippine Stock Exchange...
The benchmark PSEi was almost unchanged after bargain hunters took a break while waiting for cues from economic data and more first quarter earnings reports. The main index inched up 2.13 points or 0.03 percent to close at 6,574.88 led by gains of the Mining sector while the Property and Services...
Filinvest REIT Corp. (FILRT), the real estate investment trust of the Gotianun Group, reported the successful transition of five of its office building properties to renewable energy sources under the Government’s Green Energy Option Program (GEOP). In a disclosure to the Philippine Stock...
Engineering and infrastructure firm Megawide Construction Corporation has bagged the contract to construct the newest Landers Store which will be built in Aseana City. In a statement, the firm said the project will further bolster Megawide’s class as the premier builder of these modes of...
Top township developer Megaworld Corporation is investing P1.2 billion to build a modern museum inside its 30-hectare The Mactan Newtown in Lapu-Lapu City, Cebu as an ode to the island’s cultural pride and historical significance. In a disclosure to the Philippine Stock Exchange, the firm...
Ayala-led ACEN Corporation will be rolling out $1.6 billion worth of capital for 1,600 megawatts (1.6 gigawatts) of greenfield renewable energy (RE) projects that it will be advancing at its home base in the Philippines, as well as in India and Australia. In a media briefing, ACEN President and CEO...
OceanaGold sets lower IPO price of P13.33 per share By James A. Loyola OceanaGold (Philippines) Inc. (OGPI) has set the final offer price for its planned P6- billion initial public offering at P13.33 per share, down from its indicative offer price of P17.28 per share. OceanaGold Philippines...
SM Investments Corporation, the flagship of the Sy family, is alloting capital expenditures of P110 billion to P115 billion this year, 44 percent higher than the P80 billion spent in 2023, even as it continues to be cautiously optimistic about its prospects. During a briefing after the firm’s...
Taisei Corp., a Japanese general contractor, has acquired a 25 percent stake in PetroGreen Energy Corp., a subsidiary of Rizal Green Energy Corp. that focuses on renewable energy. The investment made by Taisei will be used to build and operate four solar power projects. These include the...
The local stock market rose further as investors continued bargain hunting following gains in US bourses. The main index jumped 65.95 points or 1.01 percent to close at 6,572.75 as Conglomerates led the charge although Banks lagged behind. Volume was higher at 1.13 billion shares worth P6.07...
Concepcion Industrial Corporation (CIC), the country's leading provider of consumer lifestyle and industrial solutions, reported that it has doubled its consolidated net income to P186 million in the first quarter of 2024 compared to the same period last year. In a disclosure to the Philippine...
The Yuchengco Group’s Rizal Commercial Banking Corporation (RCBC) has teamed up with a Japanese global IT and fintech company Digital Wallet Corporation (DWC) to enhance the facilitation of cross-border digital transactions between the Philippines and Japan. In a statement, RCBC First...
