The Gotianun Group’s real estate investment trust Filinvest REIT Corporation (FILRT) is waiting for the equities market to recover and for its stock price to improve before acquiring more assets via share swap. “A number of assets have been identified for infusion into FILRT that are subject to...
Renewable energy firm SP New Energy Corp. (SPNEC), now chaired by tycoon Manuel V. Pangilinan through the controlling stake of MGen Renewable Energy (MGreen), reported a net income of P5.7 billion in 2023 after gaining 100 percent ownership of Terra Solar Philippines. Based on its disclosure...
To celebrate the unveiling of The Residences at Terrazas de Punta Fuego, the latest upscale beachfront property by Landco Pacific Corporation, notable guests gathered at Manila House in BGC, Taguig. Landco Pacific Corporation President and CEO Erickson Y. Manzano, Broadway Malyan...
The Philippine Stock Exchange index (PSEi) fell through the 6,500 support level to settle just above the 6,400 mark as investors cash out amid uncertainties due to the conflict in the Middle East. The main index plunged 157.46 points or 2.40 percent to close at 6,404.97 as the Services sector led...
Equity acquisition in existing renewable energy (RE) projects had driven up the net income of Yuchengco-led PetroEnergy Resources Corporation (PERC) by 9.0% last year to P944 million from P863 million in 2022. The corresponding portfolio boost, according to the company, likewise shored up its...
The Yuchengco Group’s Rizal Commercial Banking Corporation (RCBC), through RCBC Credit Cards, has teamed up with Sumitomo Mitsui Financial Group, Inc. (SMBC Group) to provide RCBC Credit Card Mastercard and Visa premium cardholders access to 49 Lounges at 34 Airports in Japan. In a statement,...
Lopez Holdings Corporation reported a 48 percent drop in attributable net income to P2.85 billion last year from the P5.44 billion earned in 2022 due to its equity share in the 2023 net loss of investee ABS-CBN Corporation. In a disclosure to the Philippine Stock Exchange (PSE), the firm said...
Rotational blackouts at various provinces in the Luzon grid as well as Metro Manila areas may roll by 2:00 to 4:00pm this afternoon, according to the latest advisories of system operator National Grid Corporation of the Philippines and power utility giant Manila Electric Company. The first batch of...
The local stock market plunged as investors turned jittery after Iran attacked Israel with hundreds of missiles. The main index fell 96.96 points or 1.46 percent to close at 6,562.43 as Conglomerates led the retreat while the Mining sector bucked the trend. A total of 612 million shares worth P5.58...
Metro Pacific affiliate Axelum Resources Corporation, the country’s leading fully-integrated manufacturer and exporter of premium coconut products, reported a core net loss of P158 million for 2023 from a net income of P983 million in 2022. “The weaker-than-normal performance was mainly...
Citicore Renewable Energy Corporation (CREC) reported that it has secured financing arrangement of up to P20 billion with Rizal Commercial Banking Corporation (RCBC) for the funding of multiple solar power plant projects. In a statement, the firm said the projects will have a combined installed...
Megawide Construction Corporation is planning to raise up to P5 billion from a bond offering that was approved by its board of directors last April 12. In a disclosure to the Philippine Stock Exchange (PSE), the firm said its board has authorized the offering of peso-denominated fixed rate bonds...
