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VG Cabuag
Biggest IPO listing: Lucky Me maker shoots for P72-billion goal
MONDE Nissin Corp., the maker of famous Lucky Me! instant noodles and Skyflakes biscuits, has filed for a P72.45-billion initial public offering, which would be the country’s biggest listing to date.
Cirtek says its P2-billion paper got ‘above-average’ ratings
LAGUNA-BASED Cirtek Holdings Philippines Corp. on Thursday said it secured an above-average score from a local ratings firm for the company’s P2 billion float worth of commercial papers.
Megawide aims to get P4 billion from preferred share sale
MEGAWIDE Construction Corp. on Thursday said it plans to raise as much as P4 billion from the sale of preferred shares.
MPIC 2020 income falls by a third as pandemic impacts major units
CONGLOMERATE Metro Pacific Investments Corp. on Wednesday said its core income fell 34 percent to P10.2 billion from the previous year’s P15.6 billion as its businesses suffered from minimal toll road traffic, suspended and then reduced light rail services, and lower commercial and industrial demand for water and power.
DNL income falls 23% in 2020, but sees recovery in 4Q
CHEMICAL manufacturer D and L Industries Inc. said its net income fell 23 percent last year to P2.01 billion from the previous P2.62 billion, but the company saw a jump in earnings in the last quarter that it said will be an inflection point for its earnings in the succeeding quarters.
URC income rises by 15% on lower debt, forex losses
Universal Robina Corp. (URC), the food unit of the Gokongwei Group, said its net income grew 15 percent last year to P11.6 billion from the previous year’s P10.11 billion.
Lockdown, mall closures slash RLC income in 2020
Robinsons Land Corp. (RLC), the property development arm of the Gokongwei Group, on Tuesday said its income last year plunged 39 percent to P5.26 billion, from the previous year’s P8.68 billion.
Yanson Group completes annual meeting of units
The Yanson Group, which owns the country’s largest bus company, on Tuesday said it completed the series of annual meetings of the company’s 10 subsidiaries, which all declared that the group of the family matriarch as its controlling owner.
Century Properties taps debt market to fund spending plan
Listed property developer Century Properties Group Inc. raised P3 billion in fresh funds from its latest bond offering, which was more than twice oversubscribed from the base offer.
Greenergy buys majority stake in U-Pay
Greenergy Holdings Inc., a listed firm of businessman Antonio Tiu, has bought a controlling stake in the Lopez-owned financial technology company.
Holcim income plummets by 42%
Cement firm Holcim Philippines Inc. said its income plunged 42 percent last year to P2.06 billion, from the previous P3.58 billion mainly due to the lockdown measures and bad weather in the fourth quarter.
SEC unveils online payment system
The Securities and Exchange Commission (SEC) said its online payment system will be operational starting March 1.
PSE greenlights REIT listing of DDMP
The Philippine Stock Exchange Inc. (PSE) has approved the initial public offering (IPO) listing application of DDMP REIT Inc., a real estate investment trust (REIT) mainly sponsored by DoubleDragon Properties Corp.
SMIC income drops by half as crisis hits PHL economy
Conglomerate SM Investments Corp. (SMIC) said its net income in 2020 was cut in half to P23.4 billion from the previous year’s P44.6 billion mainly due to the impact of the pandemic on its shopping malls and the pre-emptive bad loan provisions of its banks.
Health crisis slashed income of Robinsons Retail in 2020
Robinsons Retail Holdings Inc. (RRHI) said its income dropped 30 percent last year to P3.19 billion from the previous year’s P4.55 billion.
Ayala Land to finance 2021 capex via loans, bond issue
Property developer Ayala Land Inc. said it is set to borrow between P8 billion and P10 billion this year for its capital expenditures including the completion of projects that it had already started.
Ayala Land income plunges as PHL reels from Covid-19
Ayala Land Inc. on Wednesday said its attributable income fell 74 percent last year to P8.72 billion from the previous year’s P33.18 billion due to the disruption caused by Covid-19 to economic activity.
SEC approves AboitizPower bond float, IPO of hospital
The Securities and Exchange Commission (SEC) has approved the registration statements of the P30-billion bond float of Aboitiz Power Corp. and the initial public offering (IPO) of Allied Care Experts (ACE) Medical Center-Palawan Inc.
SM Group units bag awards
Companies owned by the SM Group received Golden Arrow Awards from the Institute of Corporate Directors for performing well in the ASEAN Corporate Governance Scorecard, an assessment benchmarked against international best practices on corporate governance standards across the region.
AREIT income up by 42% last year
AREIT Inc., the real estate investment trust (REIT) of Ayala Land Inc., said it earned P1.23 billion last year, some 42 percent higher than the previous year’s income of P866 million.
Holcim PHL names new CEO
Cement firm Holcim Philippines Inc. on Tuesday said it has appointed Romanian Horia Adrian as the new president and CEO of the company effective March 1.
JG Summit acquires minority stake in South Africa’s TymeBank
JG Summit Holdings Inc., the holding firm of the Gokongwei Group, on Tuesday said it acquired a minority stake in South African digital bank Tyme, as the group forays into the financial technology sector.
SEC now a member of GFIN
The Securities and Exchange Commission (SEC) on Tuesday said it has joined the Global Financial Innovation Network (GFIN) to support the development of the Philippine capital market.
SMC to spend P1 billion for vaccine program
Conglomerate San Miguel Corp. (SMC) on Tuesday said it is spending close to P1 billion for a program to vaccinate all its 70,000 employees and extended workforce for free.
SEC wins case against lending firm
The Securities and Exchange Commission (SEC) has secured its fifth legal victory against illegal lending firms after a Pasay court convicted the incorporators and directors of Naurasidhu55 Lending and Trading Corp. for submitting falsified documents for its registration.
Robbie Antonio resigns from board of Century Properties Group
Jose Roberto R. Antonio, son of former US Ambassador Jose E.B. Antonio, has resigned as company director and member of the board of the family’s listed real estate developer Century Properties Group (CPG) Inc.
AllDay to open first branch in Cebu
Villar-led AllDay Supermarket said it will open by the end of the month its first branch in Cebu in keeping with its goal of expanding its brand in the country.
SEC to allow online submission of documents
The Securities and Exchange Commission (SEC) will allow corporations and partnerships to file required documents, such as financial statements and other annual reports, via e-mail to limit its face-to-face interaction with the public.
Aleta Planet, Greenergy eye tie up
Greenergy Holdings Inc., the listed company led by businessman Antonio L. Tiu, on Thursday said Singapore-based Aleta Planet is eyeing a partnership with the company for the issuance of virtual cards as well as cross-border money remittance services.