Stock broker Eusebio H. Tanco has formally declined his nomination as director of the Philippine Stock Exchange (PSE) for the Board elections on July 1 after his brokerage Venture Securities Inc. has been penalized by regulators in relation to illegal transfers of shares worth P700 million. In a...
The Securities and Exchange Commission (SEC) has also revoked the license of R&L Investments, Inc., as well as disqualified its key officers and the owner of the account used to siphon off P700 million worth of client shares from the stock brokerage. In addition, the SEC special hearing panel...
The Securities and Exchange Commission (SEC) has revoked the license of Ventures Securities, Inc. (VSI) and slapped P32 million in penalties against the brokerage and its officers for the fraudulent transfer of P700 million worth of client shares from R&L Investments, Inc. An SEC special...
SM Investments Corporation (SMIC) has taken control over 2Go Group Inc. with the completion of the divestment of Dennis A. Uy from the company in favor the Sy family’s investment arm and Singapore private equity fund Archipelago Capital Partners Pte. Ltd. In a disclosure to the Philippine Stock...
Filipino-owned global firm Frabelle Fishing Corp. (FFC), the country's most integrated aquaculture and food company, is keen on establishing a tuna canning plant in India and expand its overseas operations in Vietnam and Papua New Guinea. FFC President Francisco Tiu Laurel said India is a very...
Metro Pacific Investments Corporation (MPIC) is interested in partnering with to other vaccine manufacturers globally to locally produce a COVID-19 vaccine as well as for other diseases since the Philippines has yet to produce a single vaccine of its own. “You know, if you're at it anyway, you...
Amid efforts to hasten economic recovery from the blow of the pandemic, President Duterte has invited Japanese businessmen to invest in the country's agriculture and digital economy sectors. President Rodrigo Duterte (File photo/Malacañang) Addressing the virtual international conference...
The Senate will work on passing soon the bills aimed at reviving the Philippine economy, such as the proposed amendments to the Public Service Act and to the Foreign Investment Act, among others. (Senate of the Philippines) Senate Majority Leader Juan Miguel Zubiri said senators agreed on this...
Six Philippine companies, led by the Sy family’s SM Investments Corporation and BDO Unibank, made it to Forbes Magazine’s 19th annual Global 2000 list. The list is an international ranking of the world's biggest, most-powerful and most-valuable companies based on an analysis of four metrics:...
Norwegian companies that are interested to inject fresh capital into the country’s renewable energy (RE) sector have been batting for the easing of legal restraints on foreign ownership, primarily on solar and wind installations. In a virtual launch of the Report on RE Opportunities in the...
SM Investments Corporation (SMIC), the flagship of the Sy family, reported a five percent improvement in consolidated net income to P9.5 billion in first quarter of 2021 from the P9.0 billion earned in the same period last year. In a disclosure to the Philippine Stock Exchange, the firm said...
Metro Pacific Investments Corporation reported a 272 percent surge in attributable consolidated net income to P7.0 billion in the first quarter of 2021 although core profits declined. In a media briefing, MPIC President Jose Ma. K. Lim said the firm’s bottomline benefitted from the gain...
