San Miguel Food and Beverage, Inc. (SMFB) reported a 68 percent jump in consolidated net income to P24.2 billion in the first nine months of the year “following solid strategic pivots that allowed it to address the challenges of the COVID-19 pandemic on its businesses.” In a disclosure to the...
ACE Enexor Inc., the oil and gas company of the Ayala group, has cemented a joint venture agreement with US firm Red Holdings B.V., a subsidiary of Gen X Energy for the development of a 1,100-megawatt combined cycle gas-fired power project. In a disclosure to the Philippine Stock Exchange (PSE) on...
The International Finance Corp. (IFC) is investing in a social bond to be issued by Ayala Corp.’s foreign subsidiary that will fund the development of an integrated health ecosystem in the country. The IFC, a member of the World Bank Group, said on Thursday, Nov. 11, that it invests $100 million...
The Metropolitan Waterworks and Sewerage System (MWSS) has penalized Maynilad Water Services Inc. due to failure to provide 24/7 water supply to its customers in BF Homes, Parañaque sometime in May. In an advisory, the MWSS Regulatory Office (MWSS RO) said that it will conduct a virtual public...
Smart_500x500 Smart Communications, Inc. (Smart) has expanded its nationwide 5G network to 6,400 base stations, surpassing its initial target of 3,800 for 2021. This puts Smart's total base stations as of end-September to 72,600, enabling Smart to cover 96% of the population from Batanes to...
Synergy Grid and Development Philippines, Inc. (SGP) successfully listed the shares from its P13.8 billion follow-on offering (FOO) on the Philippine Stock Exchange (PSE). The stock closed 5 percent higher at P12.60 per share from its FOO price of P12.00 apiece. SGP offered 1.05 billion common...
logo Telemedicine provider KonsultaMD expects to follow the footsteps of its unicorn sister company, Mynt, in the coming years. KonsultaMD is a portfolio company of 917Ventures, an affiliate of Globe Telecom Inc. Less than two years into the pandemic, medical consultations through the KonsultaMD...
D&L Industries is confident of exceeding its pre-pandemic earnings this year after registering strong growth in the third quarter despite the reimposition of stricter quarantine measures. In a press briefing, D&L President Alvin D. Lao said, the country’s largest specialty food...
The local stock market rose to a new 2021 high for the third straight session, this time spurred by the higher-than-expected growth in gross domestic product for the third quarter. PSE_NEW The main index gained 45.45 points or 0.82 percent to close at 7,441.67 as the Services sector led the rally...
The Aboitiz Group recently bagged the prestigious Agora Award for Outstanding Achievement in Advocacy Marketing in support of the United Nations Global Compact. The award is given by the Philippine Marketing Association to Philippine-based companies that have institutionalized advocacy marketing,...
Diversified engineering conglomerate DMCI Holdings, Inc. more than tripled its consolidated net income to P13.5 billion in the first nine months of 2021 from P3.9 billion in the same period last year. In a disclosure to the Philippine Stock Exchange, consolidated core net income soared 173 percent...
The local stock market sustained last week’s winning streak on Monday, with the PSEi hitting its highest level so far this year, as investors remained bullish amid the downtrend in COVID cases and the coming announcement of the Philippine gross domestic product. The main index added 55.45 points...
