- Globe Telecom’s tower sales reach P85.2 billion
AYALA-LED Globe Telecom, Inc. said it has generated P85.2 billion from its tower sales after fully transferring some of its tower assets to Frontier Tower Associates Philippines, Inc. (Frontier Towers). “These tower assets are composed of 84% ground-based towers and 16% rooftop towers,” Globe said in a stock exchange disclosure on Thursday. The telco has
- JFC expects payback on Compose Coffee investment in 5-6 years
JOLLIBEE Foods Corp. (JFC) expects achieving payback on its acquisition of South Korea’s Compose Coffee within five to six years, a company official said. “Even if we take a very modest growth rate, just based on new franchisees, roughly 30 to 40 new franchisees per month are opening stores. If you just add that in,
- Pangilinan: Ayala’s LRT-1 stake talks hit ‘valuation gap’
METRO Pacific Investments Corp. (MPIC) may reconsider acquiring Ayala Corp.’s stake in Light Rail Transit Line 1 (LRT-1) due to unresolved valuation issues, according to its chairman. “We talked to them before, but there’s a bit of a gap in valuation, and I do not know how we can bridge it,” MPIC Chairman, President, and
- CIC earnings rise to P541M in Q2 on ‘hot weather demand’
LISTED home and building solutions provider Concepcion Industrial Corp. (CIC) said its second-quarter (q2) consolidated earnings rose two-fold to P541 million, surpassing pre-pandemic levels. The growth is attributed to “well-executed sales strategies, enhanced customer engagement, and strong market demand fueled by hot weather conditions,” CIC said in a stock exchange disclosure on Thursday. Including its
- Aboitiz Equity Ventures core profit declines marginally in Q2
CEBU-BASED conglomerate Aboitiz Equity Ventures, Inc. (AEV) reported a core net income of P6.4 billion for the second quarter. This figure represents a 1% decline from P6.5 billion in the same period last year, the conglomerate said in a regulatory filing on Thursday. The complete financial statement has not yet been made available. Meanwhile, the
- PXP Energy records slight Q2 net loss improvement
PANGILINAN-LED PXP Energy Corp. trimmed its attributable net loss for the second quarter to P6.55 million, slightly down from P6.59 million last year. This reduction occurred despite a 22.7% decline in consolidated petroleum revenues, which fell to P16.62 million, the upstream oil and gas company said in a regulatory filing on Thursday. The company saw
- Filinvest Hospitality’s The Hay Diner to challenge Baguio’s dining market
GOTIANUN-LED Filinvest Hospitality Corp. (FHC) said it will develop a new dining establishment in Camp John Hay, Baguio City. Situated on a 730-square-meter lot along Sheridan Drive, FHC will establish its latest food and beverage venture, The Hay Diner, the company said in a statement on Thursday. FHC secured the property after winning the bid
- Isuzu Autoparts taps PetroGreen for 3-MWp solar project
YUCHENGCO-LED PetroGreen Energy Corp. (PGEC) has signed a contract with Isuzu Autoparts Manufacturing Corp. (IAMC) for the installation of a three-megawatt-peak (MWp) rooftop solar project. The solar project will be installed at IAMC’s manufacturing facility in Laguna, with construction slated to begin in the third quarter and completion expected in the second quarter of 2025,
- How PSEi member stocks performed — July 25, 2024
Here’s a quick glance at how PSEi stocks fared on Thursday, July 25, 2024.
- SteelAsia investing P82B in 5 new steel plants to boost output
STEELASIA Manufacturing Corp. said it plans to invest P82 billion in constructing five new steel plants in the country to increase its annual output by 2.2 million metric tons. The company aims to help address the Philippines’ reliance on imported steel by boosting local production, SteelAsia said in a statement on Wednesday. The planned projects