- MPIC expects to sell 20% stake in MPTC within two months
METRO PACIFIC Investments Corp. (MPIC) is in advanced talks to sell about 20% of its stake in Metro Pacific Tollways Corp. (MPTC) to help reduce the latter’s debt, its chairman said. MPIC Chair, President, and Chief Executive Officer Manuel V. Pangilinan said the company has narrowed the list of potential buyers to one. “We’re down
- Filinvest Land hit P4.17-B profit in 2024 on residential sales
GOTIANUN-LED property developer Filinvest Land, Inc. (FLI) posted an 11% increase in its attributable net income for 2024 to P4.17 billion from P3.77 billion the prior year on higher residential revenue. Consolidated revenue and other income grew by 8% to P24.45 billion last year from P22.44 billion in 2023, FLI said in a regulatory filing
- CREC unit seeks ERC nod for grid integration of Batangas solar project
SAAVEDRA-LED Citicore Renewable Energy Corp. (CREC), through its solar subsidiary, is seeking the approval of the Energy Regulatory Commission (ERC) to develop a connection facility linking its 50-megawatt (MW) solar power project in Tuy, Batangas. Citicore Solar Batangas 1, Inc. is proposing to develop and own interconnection facilities to connect its Luntal Solar Power Project
- Del Monte Pacific stays in red, eyes recovery in FY2026–27
LISTED food and beverage producer Del Monte Pacific Ltd. (DMPL) said it anticipates financial improvement for fiscal years (FY) 2026 and 2027 as it continues cost optimization and operational efficiency measures. “The group expects to incur a net loss in FY2025 but projects gradual improvement in FY2026, continuing into FY2027 as it executes its strategic
- Themis Group sets Ferronoux tender offer price at P2.22 per share
HOLDING COMPANY THEMIS Group Corp. has priced its mandatory tender offer for publicly held shares of listed shell company Ferronoux Holdings, Inc. at P2.22 per share, with the total offer amounting to P284.81 million as part of its backdoor listing plan. The tender offer will run from March 19 to April 21, Ferronoux said in
- SEC pushes for stricter compliance with audit quality and financial reporting
THE Securities and Exchange Commission (SEC) is pushing for stricter compliance with audit quality and financial reporting among companies as part of efforts to improve governance in the local corporate sector. “The SEC remains steadfast in its commitment to ensure that companies strictly comply with accounting policies and uphold audit quality as it continues to
- IFC names Amena Arif as new country manager for PHL
THE International Finance Corporation (IFC), the private-sector arm of the World Bank Group, said it appointed Amena Arif as the new country manager for the Philippines. The Pakistani banker joined IFC in 2012 and succeeded Jean-Marc Arbogast, who now serves as country manager for Chile. “IFC is committed to working with our partners in the
- How PSEi member stocks performed — March 13, 2025
Here’s a quick glance at how PSEi stocks fared on Thursday, March 13, 2025.
- AirAsia Philippines revives IPO plans
AIRASIA PHILIPPINES has revived its initial public offering (IPO) plans, targeting a public listing within the next 12 months to fund its expansion, according to the company’s top executive.
- MPIC sets P116-B capex for 2025
PANGILINAN-LED Metro Pacific Investments Corp. (MPIC) is earmarking around P116 billion in capital expenditures (capex) for 2025, up 15% from the previous year, a company official said on Wednesday. “For 2025, it’s an increase of about 15% year on year,” MPIC Chief Finance, Risk, and Sustainability Officer Chaye A. Cabal-Revilla said during a media briefing