Companies

Lopez-led Energy Development Corp. (EDC), a subsidiary of First Gen Corp., is raising P10 billion from the issuance of fixed-rate bonds to partly finance the power firm’s renewable energy (RE) projects.

Alsons Consolidated Resources (ACR) of the Alcantara Group has raised P1.149 billion, which represents the third tranche of its P3-billion commercial paper program.

Dito Telecommunity Corp. launched on Tuesday its enterprise unit targeting the P70-billion small-and-medium-businesses market and local government units (LGUs).

International Container Terminal Services Inc. (ICTSI) said on Wednesday the Victoria International Container Terminal (VICT) is “on track” to complete Phase 3A of its expansion project by yearend.

Reddit Inc. is again holding talks with potential investors for an initial public offering (IPO) for the social media company, according to people familiar with the matter, as hopefuls prepare for a long-awaited reopening of the market for new listings.

Officers and the Advertising Team of BusinessMirror led by T. Anthony C. Cabangon, BusinessMirror Publisher; Loida Virtudazo, BusinessMirror General Manager, Lourdes M. Fernandez, BusinessMirror Editor-in-Chief and Aldwin M. Tolosa, BusinessMirror Advertising Manager, gathered at the Marriott Manila Hotel for a thanksgiving lunch to celebrate this year’s accomplishments.

Senator Sherwin Gatchalian on Tuesday urged the Energy Regulatory Commission (ERC) to fast-track the reset of the power distribution rate for the Manila Electric Co. (Meralco) to determine if the utility firm had overcharged its customers.

Businessman Manuel V. Pangilinan (MVP) said the Marcos administration is “doing the right thing” in asserting the country’s sovereign rights over the West Philippine Sea.

San Miguel Corp. is on the annual World’s Best Employers list by Forbes Magazine and research firm Statista and has been ranked 43rd.

STI Education Systems Holdings Inc., owner of the largest network of private schools in the Philippines, said it swung to profit during its fiscal first quarter ending September 30.

Globe Telecom Inc. said on Tuesday it has connected 716 more sites to 5G in January to September, increasing its 5G outdoor coverage to 97.67 percent in the National Capital Region and 92.06 percent in key cities of Visayas and Mindanao.

Metro Pacific Investments Corp. (MPIC) said the government’s approval of its units’ petitions for tariff rate increases has made it easier for them to tap loans for their projects.

The Executive Centre (TEC), Asia’s flexible workspace provider, said it has achieved “significant growth” in the Philippines and other Southeast Asian markets this year as demand for flexible offices continues to rise.

Megaworld Corp. has expressed confidence that it will win a legal battle against construction firm Datem Inc.

Globe Telecom Inc. said Monday its mobile business posted a “strong performance” in January to September due to the “consistent surge in mobile data usage.”

Aboitiz Power Corp. (AboitizPower) is allocating P50 billion for capital expenditures (capex) next year to help achieve its target of having 4,600 megawatts (MW) of clean energy, or 50 percent of its generation portfolio, by 2030.

Figaro Coffee Group Inc. said the company has expanded its store network to 200 on its 30th year anniversary.

MPCALA Holdings Inc. (MHI), the concessionaire of the Cavite-Laguna Expressway (Calax), has received substantial right of way (ROW) for the construction of the remaining portion of the thoroughfare’s Cavite segment.

The Quezon City Regional Trial Court has ordered property developer Megaworld Corp. to set aside P873.32 million as a counterbond to cover the potential obligation claimed by construction firm Datem Inc.

The Energy Regulatory Commission (ERC) wants the Manila Electric Co. (Meralco) to improve the bidding terms of the ongoing competitive selection process (CSP) for 1800-megawatt (MW) baseload capacity.