- SM Prime profit up 14% to P45.6B in 2024, driven by new malls, strong holiday sales
SY-LED property developer SM Prime Holdings, Inc. reported a 14% increase in its consolidated net income for 2024, reaching a record-high P45.6 billion, up from P40 billion in 2023, driven by strong holiday spending, the opening of two new malls, and higher real estate sales. “The double-digit improvement was driven by higher contributions from all
- Ayala Land’s Virendo Phase 1 in Davao set for 2029 turnover
AYALA LAND, Inc. (ALI) said the first phase of its 37.4-hectare Virendo luxury horizontal residential development in Davao is set for turnover by the second quarter of 2029, as the real estate developer expands its portfolio in Mindanao. The development, carried out by ALI’s luxury residential brand Ayala Land Premier, is located in Toril, the
- Uy says ComClark to resubmit air navigation control proposal
COMCLARK NETWORK and Technology Corp. intends to resubmit its unsolicited proposal to take over the management of the country’s air navigation, traffic, and control system, the company’s chief executive officer (CEO) said. The company is set to provide the government with supplemental documents to complete its P29.82-billion unsolicited proposal in the next few days, ComClark
- Basic Energy finalizes deal with Japan’s Renova
BASIC ENERGY Corp. has finalized its joint development and shareholders’ agreement with Japanese renewable energy developer Renova, Inc., advancing their development of the 50-megawatt (MW) Mabini Wind Power Project in Batangas. As a result of the closing, Renova officially becomes a partner in RDG Wind Energy Corp. (RWEC), contributing its expertise and resources to the
- D.M. Wenceslao earns spot in ATRAM SDG Fund for 2025
LISTED PROPERTY DEVELOPER D.M. Wenceslao & Associates, Inc. (DMW) announced that it was included in the ATR Asset Management Group’s Philippine Sustainable Development and Growth Fund (ATRAM SDG Fund) for 2025. This marks the third consecutive year that the property developer has been included in the ATRAM SDG Fund, DMW said in a regulatory filing
- Manila Water completes segment of P7.4-B Mandaluyong sewer project
EAST ZONE concessionaire Manila Water Co., Inc. said it is on track to complete its P7.4-billion Mandaluyong West-San Juan and South Quezon City Sewerage Network Project (MandaWest Sewer Network Project) by 2037. The company has completed the construction of the P103.6-million Mandaluyong West-San Juan Network Package 2A-1 (MandaWest Package 2A-1), it said in a media
- Converge, St. Luke’s partner for in-room digital concierge
LISTED fiber broadband and technology provider Converge ICT Solutions, Inc. has partnered with St. Luke’s Medical Center (SLMC) to launch an in-room digital concierge to improve patient experience through digital solutions. “With a focus on patient-centered care and our mission for excellent digital experiences, this partnership will really set the standard for patient hospitality in
- Bain & Co. names Manny Maceda as chair
GLOBAL management consulting firm Bain & Co. has named Emmanuel P. “Manny” Maceda as its new chair, bolstering its leadership. Mr. Maceda replaces long-time chair Orit Gadiesh, who has been appointed as the management consulting firm’s chair emeritus, Bain & Co. said in a statement. Ms. Gadiesh served as chair of Bain & Co. for
- ACMF eyes capital markets improvements with new 5-year strategy
THE ASEAN Capital Markets Forum (ACMF) is looking to release a five-year roadmap by October this year aimed at improving the region’s capital markets. The roadmap, called the ACMF Action Plan 2026-2030 (AP2026), will replace the current ACMF Action Plan 2021-2025 (AP2021). “The new AP2026 will build on the successes of the AP2021 and will
- How PSEi member stocks performed — February 17, 2025
Here’s a quick glance at how PSEi stocks fared on Monday, February 17, 2025.