Meralco PowerGen Corp. (MGen) is exploring a potential backdoor listing for its renewable energy (RE) unit, MGen Renewable Energy Inc. (MGreen). In a disclosure to the Philippine Stock Exchange on Friday, March 14, SP New Energy Corporation (SPNEC), an Meralco group subsidiary, stated that MGen is...
The local stock market continued to firm up as investors pick up bargains on hopes of earlier rate cuts after both US and Philippine inflation rates eased. The main index hiked 52.04 points or 0.83 percent to close at 6,294.11 with the Property sector leading the advance while only Conglomerates...
Jollibee Foods Corporation, one of the largest Asian food service companies, is allotting ₱18 billion to ₱21 billion for capital expenditures this year as it reported a 17.7 percent growth in attributable net income to ₱10.3 billion last year from ₱8.77 billion in 2023 despite a drop in...
Ayala Corp. reported that its core net income, which excludes one-off items, improved 10 percent to another all-time high of ₱45 billion last year from the ₱41 billion earned in 2023 on the strength of its core businesses. In a disclosure to the Philippine Stock Exchange, the firm said that,...
Zobel-led Ayala Corp., the country’s oldest conglomerate, is raising up to ₱31.5 billion through the issuance of preferred shares and Samurai loans from two Japanese banks to fund the expansion of its diversified businesses. In a disclosure to the Philippine Stock Exchange, the firm said...
Themis Group Corporation is planning to start its ₱285 million mandatory tender offer for the minority shares of Ferronoux Holdings Inc. next week after acquiring a controlling stake in Ferronoux for use as a backdoor-listing vehicle. In a disclosure to the Philippine Stock Exchange, Ferronoux...
Citicore Energy REIT Corp. (CREIT), through its subsidiary Citicore Solar Batangas I, Inc. (CSBat1), has filed an application with the Energy Regulatory Commission (ERC) seeking approval for the construction of point-to-point interconnection facilities. In a notice posted by the ERC, CSBat1...
Metro Pacific Investments Corp. (MPIC) is aiming to seal a deal to sell about 20 percent of subsidiary Metro Pacific Tollways Corp. to a foreign strategic investor in the next two months. In an interview, MPIC Chairman, President and CEO Manuel V. Pangilinan said they have whittled the number of...
The local stock market dipped although the arrest of former President Rodrigo Duterte was not seen to have affected investor sentiment. The main index shed 11.29 points or 0.18 percent to close at 6,195.26, weighed down by the services sector, although sub-indices were evenly divided. Volume...
Pangilinan-led Metro Pacific Investments Corporation (MPIC) is investing ₱116.15 billion for capital expenditures this year as it expects its 2025 earnings to exceed the record performance in 2024. In a press briefing, MPIC Chief Finance, Risk, and Sustainability Officer Chaye Cabal-Revilla said...
National Grid Corporation of the Philippines (NGCP) announced that transmission charges have gone up in March. In a briefing on Wednesday, March 12, Julius Datingaling, head of revenue management department of NGCP, reported that transmission wheeling rates (TWR) dropped by 3.14 percent from...
Ayala-led ACEN Corp. reported an increase in its net income for last year on the back of growing renewable energy (RE) output. In a disclosure to the Philippine Stock Exchange on Wednesday, March 12, ACEN reported a 27 percent rise in net income to ₱9.36 billion from January to December 2024,...
