- Terra Solar Philippines draws foreign interest in P200-B solar project — SPNEC
SP New Energy Corp. (SPNEC) said around five foreign investors are keen on investing in Terra Solar Philippines, Inc., which is building a P200-billion solar project.
- Alveo Land says Q1 reservation sales soar to P12.7B after project launches
UPSCALE property developer Alveo Land Corp. said it recorded P12.7 billion worth of reservation sales for the first quarter (q1) following recent project launches. “This is a 17% increase from the highest first-quarter sales rate of Alveo Land in 2019 at P10.8 billion,” Alveo Land President Joseph Carmichael Z. Jugo said during a media briefing
- Petron says Q1 income up 16% on recovery efforts
ANG-LED Petron Corp. reported a 16% increase in its net income to P3.93 billion for the first quarter (Q1), mainly attributed to growth in its local and Malaysian operations. The company’s consolidated revenues rose by 21% to P227.64 billion driven by the strong volume growth, Petron said in a statement on Tuesday. “We have been
- MPIC-SMC JV expected by second half; Indonesian assets included
METRO PACIFIC Investments Corp. (MPIC) said the Indonesian assets of its toll road arm Metro Pacific Tollways Corp. (MPTC) will be included in the planned joint venture (JV) with Ang-led San Miguel Corp. (SMC). “I think we will sign an agreement within the year… By the second half, that’s for certain,” MPIC Chairman, President, and
- Aboitiz group to invest P7B in Tarlac estate
THE ABOITIZ InfraCapital Inc. (AIC) said it plans to invest P7 billion in its fourth economic estate, the 200-hectare TARI Estate in Tarlac City. This phase is expected to be completed within the next two years, the company said on Tuesday. “We’ve already started construction. We anticipate finishing in 24 months, but if interest and
- PLDT secures P4-B green loan from Metrobank for fiber expansion
LISTED telecommunications company PLDT Inc. said it has secured a P4-billion loan from Metropolitan Bank & Trust Co. (Metrobank), its first green loan from a local institution. Proceeds from the loan will fund the company’s fiber footprint expansion, PLDT said in a regulatory filing on Tuesday. The project aims to support the company’s internet delivery
- MPIC, Aboitiz, SMC commit to conserve Verde Island Passage
THREE of the Philippines’ largest conglomerates have teamed up to conserve the Verde Island Passage, a significant marine ecosystem in the country. San Miguel Corp. (SMC), Metro Pacific Investments Corp. (MPIC), and Aboitiz Equity Ventures, Inc. signed a memorandum of understanding (MoU) with the Department of Energy (DoE) and the Department of Environment and Natural
- AyalaLand Logistics says Q1 profit rises 18% to P211 million
LISTED AyalaLand Logistics Holdings Corp. (ALLHC) said its first-quarter (Q1) net income rose by 18% to P211 million on strong demand and higher revenues. The company’s first-quarter consolidated revenues reached P1.3 billion, up by 85% from P702 million last year, ALLHC said in a regulatory filing on Tuesday. Industrial lot sales revenue reached P851 million,
- Stonebridge buys 9% of RCI, Leviste increases stake to 10%
STONEBRIDGE Corp. has acquired a 9% stake in listed company Roxas and Co., Inc. (RCI) for P500 million. Stonebridge bought 250 million treasury shares, equivalent to 9%, the listed company said in a stock exchange disclosure on Tuesday. The shares were bought at P2 apiece and formed part of the 299.48 million treasury shares sold
- APEX Mining reports 55% rise in Q1 income
APEX Mining Co., Inc. announced on Tuesday that it earned a net income of P852.8 million in the first quarter (Q1), up 55% from P548.8 million last year, boosted by increased revenues from gold and silver. “We are confident that we can sustain our performance throughout the year, barring any major obstacle that may come