MacroAsia Corporation reported a 61 percent increase in net income for the first nine months of the year, rising to P1.2 billion from P746 million during the same period last year, driven by higher revenues across its various business segments. Consolidated revenues were higher by 28 percent to...
Bigger banks are expected to snap up UCPB Savings Bank which the state-run Land Bank of the Philippines (Landbank) is selling to focus on its core sectors. Bank of Makati president Luis M. Chua noted in an interview that universal and commercial banks would "most likely" target to acquire UCPB...
State-run Land Bank of the Philippines is selling its subsidiary, UCPB Savings Bank, Inc., to focus on its core sectors. In a statement, Landbank said the state-owned lender wants to enhance its services to key development sectors once the privatization of UCPB Savings is completed. Lynette...
The Marcos administration is poised to launch the largest privatization program in history next year. Based on the Budget of Expenditures and Sources of Financing (BESF) presented to Congress on Monday, July 29, President Marcos aims to raise P101.01 billion in revenues through the sale of...
The Philippine Amusement and Gaming Corp. (Pagcor) said the privatization of government-operated casinos is set to begin earlier than initially projected, with a target start date in May next year. At the 2024 SiGMA Asia Summit, Alejandro H. Tengco, Pagcor chief executive and chairman, said that...
To address the government's growing debt, Finance Secretary Ralph G. Recto suggested the possibility of selling the land currently housing the Ninoy Aquino International Airport (NAIA) in Parañaque City. Recto estimated that leveraging the 600-hectare NAIA property, equivalent to six million...
The national government is expected to earn around P900 billion from the privatization of the Ninoy Aquino International Airport (NAIA), the Department of Transportation (DOTr) said on Sunday, Feb. 18. In a statement, the DOTr said the government’s Public-Private Partnership (PPP) with the...
The sale of and lease rentals from state-owned properties brought in P1.2 billion to the Bureau of the Treasury this year, according to a report by the Department of Finance (DOF). Data from the DOF showed that the Privatization and Management Office (PMO) exceeded its target this year by 84.6...
Department of Transportation Secretary (DOTr) Secretary Jaime Bautista is optimistic that the improvement and modernization of the Ninoy Aquino International Airport (NAIA) under the management of a private sector will spur economic growth as it would open opportunities for investments. The...
State-run Power Sector Assets and Liabilities Management Corporation (PSALM) will be chasing P25.1 billion worth of receivables from distribution utilities (DUs) or electric cooperatives (ECs) with delinquent payments in their power supply over the years. According to PSALM President and CEO Dennis...
State-run Power Sector Assets and Liabilities Management Corporation (PSALM) has fetched additional P16.76 billion worth of proceeds from the divestment of the power assets previously owned by its precursor-firm National Power Corporation. In a presentation to Congress, PSALM President and CEO...
A Publicus Asia survey conducted in June showed that most Filipinos are least concerned about the privatization of the Ninoy Aquino International Airport (NAIA). The Pahayag 2023 Second Quarter Survey analyzed Filipinos’ sentiment on key issues affecting governance and socioeconomic landscape by...
