- Meralco sets P25-B budget to storm-proof power systems
POWER distributor Manila Electric Co. (Meralco) is setting aside P25 billion next year for the “storm-hardening” of its distribution systems, according to its chief operating officer (COO). “For 2025, we have a P25-billion budget,” Meralco Executive Vice-President and COO Ronnie L. Aperocho told reporters last week, noting that this only covers the distribution business. Meralco
- TRB sees implementation of 3 SMC toll road projects next year
THE Toll Regulatory Board (TRB) expects the implementation of at least three toll road projects proposed by San Miguel Corp. (SMC) next year, according to the regulator’s executive director. “By 2025, hopefully we can implement these three projects,” TRB Executive Director Alvin A. Carullo told reporters on the sidelines of a recent transport forum. Mr.
- Filinvest REIT eyes 95% office occupancy by 2026
LISTED Filinvest REIT Corp. (FILRT) targets an expansion of the occupancy rate of its office portfolio to 95% by 2026 as the company looks to sustain growth, its president said. “FILRT aims to reach an occupancy of 95% before 2026 driven by tenant diversification. We are now focusing our efforts on signing up more new
- Emirates sees high demand for premium travel from PHL market
DUBAI-BASED carrier Emirates is optimistic about the Philippine travel market amid growing demand for leisure travel, a company official said. ”Our presence in the Philippines is very strong,” Saeed Abdulla Miran, Emirates Philippines country manager, told reporters on Wednesday. Mr. Miran said that the airline’s passenger volume has surpassed pre-pandemic levels. “I do not have
- CTA: NLEX Corp. entitled to P3.8-M tax refund
THE COURT of Tax Appeals (CTA) has granted NLEX Corp., a unit of Metro Pacific Tollways Corp. (MPTC), a P3.8-million tax refund for local business taxes erroneously paid to the City of Valenzuela for taxable years 2012 to 2019, citing the local government unit’s lack of tax jurisdiction. In a Nov. 18 decision, the tax
- JFC to finalize Tim Ho Wan acquisition by Jan. 2025
JOLLIBEE Foods Corp. (JFC) expects to finalize the S$20.2-million acquisition of Hong Kong-based restaurant Tim Ho Wan by January 2025, according to its chief financial officer (CFO). “Beginning January, this (Tim Ho Wan) brand and business of 80+ stores will be a subsidiary of JFC, so the ownership change will be January,” JFC CFO Richard
- Investors may benefit from SMGP bond exchange, says CreditSights
FINANCIAL RESEARCH FIRM CreditSights has maintained its outperform recommendation on San Miguel Global Power Holdings Corp. (SMGP), highlighting the company’s long-term prospects and perpetual bond yields exceeding 7%. The research firm views the current yields as appealing amid an improving credit outlook, revival of funding access, and reduced risks of perpetual bond extensions, supported by
- EEI board OKs 20-M preferred share issuance
EEI CORP. is tapping the capital market to raise more funds to help clear the company’s debts and fund its upcoming projects, the listed construction company said on Wednesday. In a stock exchange disclosure, EEI said its board of directors had approved the issuance of 20 million preferred shares priced at 50 centavos apiece from
- Corporate boards grapple with AI — study
CORPORATE BOARDS across the world are less confident in their understanding of the importance of generative artificial intelligence (AI) as well as trade and geopolitical disruptions, according to INSEAD Corporate Governance Centre. The study, titled “Boards and Society: How Boards Are Evolving to Meet Challenges from Sustainability to Geopolitical Volatility,” showed that only 36% of
- How PSEi member stocks performed — November 20, 2024
Here’s a quick glance at how PSEi stocks fared on Wednesday, November 20, 2024.