DoubleDragon to acquire Globe Asiatique's Skysuites property at corner of Edsa, Quezon Avenue
interaksyon.com - 2014-05-28
MANILA - DoubleDragon Properties Corp is acquiring a foreclosed prime property previously owned by Globe Asiatique Realty Holdings Corp. In a disclosure to the Philippine Stock Exchange, the real estate joint venture of the founders of Jollibee and Mang ...

Who are the 10 richest Cabinet members?
Philippine Daily Inquirer - 2014-05-28
He served as director to numerous companies including SM Investments Corporation, BDO Private Bank and Meralco. He declared a net worth of P150,641,395 for 2013. Most of his assets are also in investments and deposits. He has a P37 million worth house in ...

DoubleDragon to buy RCBC-foreclosed Globe Asiatique property on EDSA
MSN - 2014-05-27
DoubleDragon Properties Corp. is buying a 38-story building that used to be ... for the possible acquisition of the project," the property developer led by Jollibee Foods Corp. founder Tony Tan Caktiong and Mang Inasal founder Edgar "Injap" Sia II ...

Rockwell Land goes into hotel and leisure business
MSN - 2014-05-27
Rockwell Land Inc. is going into hotel and leisure development this year, earmarking P10 billion in capital expenditures that will also fund residential projects and the acquisition of additional land. The company will launch the Aruga serviced ...

Alliance Select Foods board at odds over investment
undercurrentnews - 2014-05-27
Two Singaporean investors are stymieing Alliance Select Foods International's investment in Strong Oak, which has been paid in cash. The investors, Albert Hong and Hedy Chua, slam the capital infusion will dilute their interest in the company and have ...

Meralco to raise stake in Global Business Power
Rappler - 2014-05-27
MANILA, Philippines - Meralco PowerGen Corporation, the power generation arm of power distributor Manila Electric Company (Meralco), is increasing its stake in Global Business Power Corporation (GBPC) of the Metrobank Group to 22%. "In the Meralco ...

PNB's new thrift unit eyes 100 branches in three years
MSN - 2014-05-26
plans to more than triple in three years the branches of a thrift bank it now owns following its merger with fellow Lucio C. Tan-owned Allied Banking Corp. The bank's president said PNB Savings Bank will be built on the existing franchise of Allied Savings ...

PNB's new thrift unit eyes 100 branches in three years
MSN - 2014-05-26
plans to more than triple in three years the branches of a thrift bank it now owns following its merger with fellow Lucio C. Tan-owned Allied Banking Corp. The bank's president said PNB Savings Bank will be built on the existing franchise of Allied Savings ...

DMCI mulls new ventures to boost earnings
interaksyon.com - 2014-05-26
MANILA - DMCI Holdings Inc is looking for new growth drivers as the Consunji-led conglomerate is poised to report flat earnings growth for the third consecutive year. "Nagpa-plateau na ang growth. There has to be a new driver aside from what we have now ...

PhilRealty marks comeback with Sky Villas dev't
Rappler - 2014-05-26
MANILA, Philippines - Amid the laidback environment of New Manila in Quezon City stands a new high-rise tower along Balete Drive and N. Domingo Street. The 31-floor building sticks out like a prized trophy in the city, marking a comeback for one of the ...

Megaworld to expand Eastwood City
interaksyon.com - 2014-05-26
MANILA - Megaworld Corp is beefing up its first cyber park in the Philippines with the expansion of Eastwood City, capitalizing on the robust demand for office and commercial spaces in the township in Libis, Quezon City. In a briefing, Megaworld senior ...

Energy firm readies for Indon venture
MSN - 2014-05-25
Puno, FPH's chief financial officer. EDC is a unit of First Gen Corp., which in turn is the energy investment arm of FPH. Pressed for details, Mr. Puno said a project in Indonesia -- which will involve a geothermal plant with four 55-MW units -- is ...

ERC suspends hearings on Meralco power rate hike
MSN - 2014-05-25
Good news for customers of the Manila Electric Company, at least for now: the Energy Regulatory Board has suspended hearings on the utility firm's bid for a rate hike indefinitely. The ERC ordered the suspension so it can decide on some groups' motions ...

Philex pays P189-M fine over 2012 Padcal mine spill
Rappler - 2014-05-25
MANILA, Philippines - Listed Philex Mining Corporation of businessman Manuel V ... for violation of the Mining Act of 1995. In August 2012, Padcal's tailings storage facility (TSF) no. 3 collapsed amid torrential rains, spilling tons of sediment into ...

PBCom to expand further in the countryside
MSN - 2014-05-25
THE Philippine Bank of Communications (PBCom) is turning its sights on the countryside market to expand business, while starting talks for a possible foray into bancassurance, the bank's chief executive said. Nina D. Aguas, PBCom president and chief ...

Boardroom spat
philstar.com - 2014-05-25
HIDDEN AGENDA By Mary Ann Ll. Reyes (The Philippine Star) | Updated May 25, 2014 - 12:00am Two Singaporean investors of seafood processing giant Alliance Select Foods International, Inc. have filed a suit against members of the board of directors of ...

Online uproar over BDO's offline service
Rappler - 2014-05-24
[View the story "What's up with BDO?" on Storify] In the recently concluded Manila sessions of the World Economic Forum on East Asia, SM Investments Corporation vice chairperson Tessie Sy-Coson says one area where SMIC, which owns Banco de Oro, would ...

SMIC's Tessie Sy-Coson: Keeping it local in a globalized world
Rappler - 2014-05-24
MANILA, Philippines - If the daughter of mall magnate Henry Sy would have it her way, she would rather be referred to as the SM Investments Corporation vice chairperson rather than "one of the most powerful women" in the Philippine business sector.

JAZA: Sustaining growth in a global market
Rappler - 2014-05-23
MANILA, Philippines - Two years ago, Ayala Corporation chairman and CEO Jaime Augusto Zobel de Ayala talked to Rappler about a brave new Philippines, a country that was ready to grab opportunities for economic growth and development. (WATCH: # ...

Bloomberry chairman says open to joining San Miguel in alternative int'l airport project
interaksyon.com - 2014-05-23
During today's session on infrastructure at the World Economic Forum (WEF) on East Asia, Razon, who chairs Bloomberry Resorts Corp, said he has yet to receive an invitation from SMC for the $10 billion international airport project. But if asked to join ...

Century Properties earns P513M in Q1, up 3%
Manila Bulletin - 2014-05-23
Century Properties Group, Inc. reported a 3 percent improvement in net income to P513.06 million in the first three months of 2014 from the P500.56 million registered in the same period last year. "Given the general economic sentiment and outlook and ...

Century Properties makes P513-M net profit in Q1, up 3%
MSN - 2014-05-22
Century Properties Group Inc. made P513.06 million in net earnings during the first quarter of the year, up 3 percent from P500.56 million a year earlier. Consolidated revenues rose by 10 percent to P2.85 billion from P2.60 billion in the same ...

Century Properties makes P513-M net profit in Q1, up 3%
MSN - 2014-05-22
Century Properties Group Inc. made P513.06 million in net earnings during the first quarter of the year, up 3 percent from P500.56 million a year earlier. Consolidated revenues rose by 10 percent to P2.85 billion from P2.60 billion in the same ...

PH stock market rebounds near 6,800-mark on positive news from abroad
interaksyon.com - 2014-05-22
The most actively traded stock were BDO, PLDT and Ayala Corp. Top gainers were Central Azucarera, Da Vinci Capital and Asia Amalgamated, while the biggest losers were Coal Asia, Ever-Gotesco and Discovery World. Justino B. Calaycay Jr. of Accord Capital ...

LRWC acquires biggest Pagcor e-games operator
philstar.com - 2014-05-22
Digiwave is 85-percent owned by listed Premiere Horizon Alliance Corp., with the remaining shares held by private stockholders. "The offer also requires that Digiwave deliver 45 Pagcor e-Games stations on or before the closing date to be agreed upon by ...

SM exec commits suicide by jumping off 16th floor building in Makati City
interaksyon.com - 2014-05-22
MANILA - Police investigators do not see any foul play in the suicide of an executive of the SM Development Corporation (SMDC) who jumped to his death from the 16th floor of a condominium building in Makati City Wednesday. City police director Senor ...

SMDC exec dies after fall from Makati condo
Philippine Daily Inquirer - 2014-05-22
MANILA, Philippines - A ranking executive of a large property developing firm fell to his death from the 16th floor of his condominium unit in Makati City on Wednesday. Police said Efren Tan, 52, Vice President for Sales of SM Development Corporation ...

SM top exec Efren Tan falls to death
Philippine Daily Inquirer - 2014-05-22
A top official of SM Development Corp. (SMDC) died on Wednesday morning after he fell from the balcony of his condominium unit in Makati City. The body of Efren Tan, 52, vice president for sales and property of the residential property developer ...

First Gen increases holdings in EDC to over 50%
Manila Standard Today - 2014-05-22
Lopez Inc. owns a majority stake in Lopez Holdings Corp., which in turn, is the largest shareholder of First Philippine Holdings Corp., the parent company of First Gen. The share purchase involves 31 million class B preferred shares of stock of Prime ...

Manila Jockey's property arm to take control of Apo Reef World Resorts
interaksyon.com - 2014-05-21
MANILA - MJC Investments Corp (MIC) is set to acquire a majority stake in a leisure project in Occidental Mindoro. In a disclosure to the Philippine Stock Exchange, Manila Jockey Club Inc (MJC) said its property development arm will subscribe to 80 million ...

Anglo hikes stake in Philodrill
interaksyon.com - 2014-05-21
MANILA - The board of Anglo Philippine Holdings Corp has approved the acquisition of additional shares in The Philodrill Corp. In a disclosure to the Philippine Stock Exchange, Anglo said its board approved the purchase of up to 43,061,809,706 shares of ...

Anglo hikes stake in Philodrill
interaksyon.com - 2014-05-21
MANILA - The board of Anglo Philippine Holdings Corp has approved the acquisition of additional shares in The Philodrill Corp. In a disclosure to the Philippine Stock Exchange, Anglo said its board approved the purchase of up to 43,061,809,706 shares of ...

Anglo hikes stake in Philodrill
interaksyon.com - 2014-05-21
MANILA - The board of Anglo Philippine Holdings Corp has approved the acquisition of additional shares in The Philodrill Corp. In a disclosure to the Philippine Stock Exchange, Anglo said its board approved the purchase of up to 43,061,809,706 shares of ...

Leisure Resorts to buy out biggest private operator of Pagcor's e-Games outlets
interaksyon.com - 2014-05-21
LRWC offered P620 million for the outstanding capital stock of Digiwave, which is 85-percent owned by listed firm Premiere Horizon Alliance Corp (PHA). "Upon satisfactory results of the due diligence, the parties shall enter into a Share Purchase Agreement ...

PH stock market plummets, wipes out 10 days of gains to bring the index below the 6,800-mark
interaksyon.com - 2014-05-21
The most actively traded stocks were Alliance Global, Metrobank, BDO, PLDT and Ayala Corp. The top gainers were Jackstones, Pancake House and Transpacific Broadband Group, while the biggest losers were Primex, Da Vinci Capital and Asia Amalgamated.

PH stock market plummets, wipes out 10 days of gains to bring the index below the 6,800-mark
interaksyon.com - 2014-05-21
The most actively traded stocks were Alliance Global, Metrobank, BDO, PLDT and Ayala Corp. The top gainers were Jackstones, Pancake House and Transpacific Broadband Group, while the biggest losers were Primex, Da Vinci Capital and Asia Amalgamated.

GMA7 chairman says talks for investment by San Miguel exec completed in 30 days
interaksyon.com - 2014-05-21
The chairman of GMA Network Inc on Wednesday said talks for an investment by San Miguel Corp president Ramon S. Ang in the broadcast company should be completed in a month. Based on transcipts from an interview during GMA7's stockholders meeting ...

First Gen firms up control over EDC with acquisition of additional shares
interaksyon.com - 2014-05-21
In a disclosure to the Philippine Stock Exchange, First Gen said it purchased 31 million preferred shares in Energy Development Corp (EDC) held by Prime Terracota Holdings Corp for P48.5 million. First Gen used internally-generated funds to purchase the ...

Local partners named for Angat segment
MSN - 2014-05-20
Yung partner na kausap natin ay si Piki Lopez," Mr. Ang said, referring to First Gen Corp. Chairman and Chief Executive Officer Federico R. Lopez. First Gen is the holding company for Lopez Group's power generation businesses. Mr. Ang said San Miguel and ...

SPC submits counter-offer for Naga plant
MSN - 2014-05-20
SPC Power Corp. has exercised its "right-to-top" the offer of the highest bidder for the 153.1-megawatt (MW) Naga power plant complex in Cebu which the government is privatizing, the listed firm said in a statement yesterday. SPC said it deposited P1.143 ...

Union Bank profit falls 61.5% to P1.54 billion
Manila Bulletin - 2014-05-20
Union Bank of the Philippines posted a 61.5 percent fall in net income to P1.54 billion during the first three months of 2014 from the P4.00 billion earned in the same period last year due to lower trading gains. In a disclosure to the Philippine Stock ...

WEF Global Growth Companies: Manila Water among 20 cited
Rappler - 2014-05-20
Ayala-led Manila Water Company Inc. and 19 companies in East Asia were recognized by the World Economic Forum (WEF) for their high growth and huge contribution to the region. Dubbed as "Global Growth Companies (GGCs)," the 20 "represent a broad cross ...

Local shares pull back after PSEi touches 6,900 anew
interaksyon.com - 2014-05-20
LT Group, Ayala Land, BDO and Coal Asia, also the day's top gainer. Primex and Da Vinci Capital joined the miner as the day's biggest advancers. The biggest losers were Southeast Asia Cement, Transpacific Broadband and Ever-Gotesco. "We are now beginning ...

Petron says pre-commissioning of expanded Bataan refinery under way
interaksyon.com - 2014-05-20
MANILA - Petron Corp today announced that the expansion of its Bataan refinery is in its final stages. In a statement, the country's largest oil retailer said its $2-billion Refinery Master Plan Phase 2 (RMP-2) project is nearing completion and that pre ...

SM interested in partnering with San Miguel for $10-B airport
Rappler - 2014-05-20
The airport would be built on the project initiated by the Cyber Bay Corporation, which has already reclaimed 157 hectares. To enable San Miguel to recover the huge investment, the conglomerate proposed to operate the airport for a long-term period.

SM interested in partnering with San Miguel for $10-B airport
Rappler - 2014-05-20
The airport would be built on the project initiated by the Cyber Bay Corporation, which has already reclaimed 157 hectares. To enable San Miguel to recover the huge investment, the conglomerate proposed to operate the airport for a long-term period.

SM open to joining Manila Bay airport
Manila Standard Today - 2014-05-20
Ang said the airport would be built on the project started by Cyber Bay Corp., which has already reclaimed 157 hectares. Cyber Bay earlier planned to develop Cyber Bay City on Freedom Islands located along Manila-Cavite Coastal Road in the cities of ...

Local partners named for Angat segment
MSN - 2014-05-19
Yung partner na kausap natin ay si Piki Lopez," Mr. Ang said, referring to First Gen Corp. Chairman and Chief Executive Officer Federico R. Lopez. First Gen is the holding company for Lopez Group's power generation businesses. Mr. Ang said San Miguel and ...

ABS-CBN allots P600 million for 2 Hollywood-style studios in Bulacan
interaksyon.com - 2014-05-19
MANILA - ABS-CBN Corp plans to spend at least P600 million for the construction of two Hollywood-style studios in the northern part of Metro Manila. Rolando P. Valdueza, ABS CBN Group chief financial officer told reporters last week that the company ...

Makati Finance Corp (MFIN)
investing.com - 2014-05-19
Featured here, the Cash Flow Statement for Makati Finance Corp, showing the changes in the company's cash and cash equivalents, broken down to operating, investing and financing activities over each of the last 4 periods (either quarterly or annually).