corporate news – Thinking Port

Metro Pacific income up 25% to P28B in 2019

February 26, 2020 admin corporate news, income, metro pacific, mpic

Credit to Author: Tyrone Jasper C. Piad| Date: Wed, 26 Feb 2020 17:03:43 +0000

Pacific Investments Corp.’s (MPIC) consolidated net earnings last year rose 25.42 percent to P27.82 billion from P22.18 billion in 2018 on the back of robust power, toll road and hospital operations. In a statement on Wednesday, the Pangilinan-led conglomerate said that the “improved financial and operating results of the constituent companies delivered 7-percent increase in […]

Manila News Philippines

Bulacan airport project to push through despite delays

February 25, 2020 admin bulacan airport, corporate news

Credit to Author: Lisbet K. Esmael| Date: Tue, 25 Feb 2020 16:32:00 +0000

THE plan of San Miguel Corp. to build a $15-billion airport in Bulacan province would still push through despite delays, according to the Department of Transportation (DoTr). During the department’s Transport Talks on Monday, Transportation Secretary Arthur Tugade said there were “observations” that need to be clarified before the conglomerate could schedule the project’s groundbreaking, […]

Manila News Philippines

More players seen entering REIT market

February 25, 2020 admin corporate news, reit market

Credit to Author: Tyrone Jasper C. Piad| Date: Tue, 25 Feb 2020 16:29:28 +0000

MORE companies are expected to join the real estate investment trust (REIT) market after an Ayala Land Inc. (ALI) subsidiary became the first firm to try to do so, according to a property consultancy firm. “We expect ALI’s move to entice national and provincial players to follow suit,” Colliers International Philippines said in a report […]

Manila News Philippines

Metrobank income up 28% in 2019

February 20, 2020 admin corporate news, income, Metrobank

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Thu, 20 Feb 2020 16:51:58 +0000

LISTED Metropolitan Bank & Trust Co.’s (Metrobank) audited consolidated net profit rose to P28.1 billion last year on the back of improved operating revenues. In a disclosure on Thursday, the lender said the amount was a 27.7-percent improvement from the P22 billion netted in 2018. Its operating revenues were boosted by moderate loan growth and […]

Manila News Philippines

SEC okays SM Prime’s P100-B debt papers

February 12, 2020 admin corporate news, sec, SM

Credit to Author: Tyrone Jasper C. Piad| Date: Wed, 12 Feb 2020 17:02:17 +0000

THE Securities and Exchange Commission (SEC) has approved SM Prime Holdings Inc.’s planned issuance of P100 billion in debt securities in the next three years to generate funds for its construction and expansion projects. In a statement on Wednesday, the regulator said it greenlighted the offering of these securities under shelf registration during a meeting […]

Manila News Philippines

Maynilad: P41B spent on wastewater, sewage treatment services

February 11, 2020 admin corporate news, Maynilad, Maynilad Water Services Inc.

Credit to Author: Jordeene B. Lagare| Date: Tue, 11 Feb 2020 14:00:37 +0000

MAYNILAD Water Services Inc. has invested more than P41 billion to expand its wastewater treatment facilities within its West Zone concession area since 1997. In a statement on Tuesday, Maynilad said the amount was used to build 19 new wastewater treatment facilities and upgrade three existing ones; buy 89 new vacuum trucks for septic tank […]

Manila News Philippines

NHMFC, eight insurers flagged over MRI deals

February 4, 2020 admin corporate news, insurance, insurance companies, mortgage redemption, mortgage redemption insurance, mri, national home mortgage finance corp., nhmfc, pcc, Philippine Competition Commission

Credit to Author: Jordeene B. Lagare| Date: Tue, 04 Feb 2020 15:00:29 +0000

THE Philippine Competition Commission (PCC) on Tuesday raised anticompetition concerns over the imposition of exclusive life insurance by the National Home Mortgage Finance Corp. (NHMFC) and several insurance companies on their account holders. In a statement, the antitrust agency said its Enforcement Office charged the NHMFC and eight insurers for signing agreements on providing mortgage redemption […]

Manila News Philippines

Phinma expects to recoup plant investment in ‘few years’

February 4, 2020 admin Bataan, cement, cement plant, corporate news, philcement, philcement corp., phinma, phinma corp.

Credit to Author: Tyrone Jasper C. Piad| Date: Tue, 04 Feb 2020 14:00:37 +0000

It would only take Phinma Corp. a “pretty short” time to recoup the P2.5-billion investment in its cement plant in Bataan province as the government continues to aggressively implement its infrastructure program, its top official said. “Actually, pretty short. Few years. It depends on how we do but we have very optimistic expectations,” Phinma President […]

Manila News Philippines

BSP Jan-Nov profit falls to P40.24B

January 16, 2020 admin corporate news

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Thu, 16 Jan 2020 16:18:52 +0000

THE net income of the Bangko Sentral ng Pilipinas (BSP) declined by double digits for most of 2019, according to its preliminary and unaudited financial statements. Based on data released on Thursday, the central bank netted P40.24 billion from January to November 2019, 5.73-percent lower than the P42.69 billion during the same period in 2018. […]

Manila News Philippines

PSBank raises P4.65B from bond issuance

January 14, 2020 admin corporate news

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Tue, 14 Jan 2020 16:22:19 +0000

LISTED Philippine Savings Bank (PSBank) has raised P4.65 billion in fresh funds from the second tranche of its fixed-rate bond issuance. In a disclosure on Tuesday, the thrift-banking arm of the Metrobank Group said it has exceeded its target of P3 billion. Because of strong demand, it also decided to cut short the end of […]

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