Asiabest Group International Inc. (AGI), the shell company acquired by construction tycoon Francis Lloyd Chua, is seeking shareholder approval to fold in infrastructure and real estate assets at a valuation significantly lower than initially projected. In a statement, the investment company said it...
Consumer price growth likely slowed for another month in June, driven by declining global oil and food costs alongside a recovering currency, according to private-sector economists. A median forecast from regional banks and analysts projects headline inflation to have moderated to between 6.5...
There is a version of Coron that most travelers know by heart. It is the Coron of turquoise waters and towering limestone cliffs, hidden lagoons, and sun-drenched island-hopping itineraries. It is the destination that fills social media feeds and travel bucket lists, drawing visitors from around...
The Ayala Group’s Bank of the Philippine Islands (BPI) reinforced its leadership in sustainable finance, supporting some of the country’s largest and most transformative renewable energy (RE) projects through a series of landmark financing deals worth a total of ₱376 billion. Helping advance...
Vietnam widened its lead over the Philippines in terms of gross national income (GNI) per capita as the Southeast Asian neighbors both aspire to attain the World Bank’s upper-middle-income-country (UMIC) status. A World Bank board report dated June 18 and disclosed last Monday, June 29, showed...
First Gen Corp. has secured a supply agreement to deliver renewable power to the subsidiaries of billionaire Lucio Tan’s LT Group Inc. In a statement, First gen said the Lopez-controlled clean energy producer will supply more than 29 megawatts of geothermal power from its Tongonan facility in...
To anyone watching from the outside, taking over a major family business is a smooth path. It is easy to assume that a famous last name is the only passport needed to move straight into the corner office. But for the third generation of the Gotianun family, that idea is far from the truth. They...
Passing the torch in a family-run enterprise is an intricate dance of preserving legacy while allowing room for disruptive innovation; it is never just about changing signatures on corporate bylaws. In the Philippines, family-controlled empires are the bedrock of the economy, and as a generation of...
Manila Electric Co. (Meralco), the country’s largest power distributor, expects to post stronger financial results this year as electricity sales and generation operations continue to improve. Meralco Chairman Manuel V. Pangilinan said on Tuesday, June 30, that the group’s generation and...
Century Properties Group Inc. (CPG) is expanding its nationwide footprint by pursuing strategic landbanking in the Calabarzon, Central Luzon, Panay, and Davao regions. In a disclosure to the Philippine Stock Exchange (PSE) on Tuesday, June 30, the firm said the property acquisitions will be funded...
The Philippines, still under a state of national energy emergency, has secured a record $1.02-billion World Bank Group (WBG) financing package to help lower electricity costs, accelerate renewable energy (RE) adoption, and strengthen water services nationwide. In a press release dated June 25 and...
Aboitiz Equity Ventures Inc. (AEV) has consolidated its position as the market leader in the Philippine power generation sector, ahead of four industry rivals through its extensive portfolio of generation companies. The Cebu-based conglomerate, operating through its core energy unit Aboitiz Power...
