Vitarich seeks approval for corporate rehab exit
Philstar - 2014-07-05
MANILA, Philippines - Listed animal feeds and livestock firm Vitarich Corp. will seek court approval to terminate a 15-year corporate rehabilitation process on the back of a regained market competence and substantial debt reduction. In its disclosure to ...

Vitarich seeks early exit from rehab plan
Manila Standard Today - 2014-07-05
Poultry and feeds producer Vitarich Corp. said Friday it will ask the court to exit rehabilitation eight years ahead of the 15-year program, after reducing its debts and raising the capital stock to P3.5 billion from P500 million. Vitarich said in a ...

On path to recovery, PhilRealty bets on One Balete
Philstar - 2014-07-04
MANILA, Philippines - A year after exiting a corporate rehabilitation program that lasted over a decade, Philippine Realty and Holdings Corp. is all set to make its mark anew in the property sector as it launches the upscale One Balete community project in ...

Phoenix Semiconductor sets P2.65-B IPO
Philstar - 2014-07-04
MANILA, Philippines - Phoenix Semiconductor Philippines Corp., a unit of a South Korean semiconductor giant, is set to become the fourth company to debut in the local bourse this year. In a memorandum circular, the Philippine Stock Exchange (PSE) said its ...

Unilever Continues to Focus on Core Business - Analyst Blog
NASDAQ - 2014-07-03
Prior to that, in January, Unilever sold its Royal pasta brand to RFM Corporation, one of the biggest diversified food and beverage companies in the Philippines. In Dec 2013, Unilever sold its Soft & Beautiful, TCB and Pro-Line Comb-Thru brands in the hair ...

Century Properties to complete 31 buildings by 2019
Rappler - 2014-07-03
MANILA, Philippines - Century Properties Group Incorporated (CPG) will complete 31 buildings covering roughly 1.67 million square meters of residential and commercial spaces within the next 6 years. The buildings comprise residential projects for the ...

5 companies putting up LNG-fed power plants ahead of Malampaya's end-of-life
interaksyon.com - 2014-07-03
According to documents from the Department of Energy (DOE), Energy World Corp and First Gen Corp have committed to put up plants with a combined power generating capacity of 1,150 megawatts (MW). Hong Kong-based Energy World's $300-million project is a 600 ...

PSE clears maiden share sale of Samsung supplier
interaksyon.com - 2014-07-03
In a notice uploaded on its website on Thursday, the PSE said it cleared in May the P2.66-billion initial public offering (IPO) of Phoenix Semiconductor Philippines Corp covering the sale of 706.82 million shares at a maximum price of P3.76 per share.

Starmalls ventures into upscale malls
Manila Bulletin - 2014-07-01
Starmalls Inc., commercial leasing unit of the Villar group of companies, is expanding its market reach with the development of the more upscale Starmall Prima and Starmall Strip community malls in addition to its regular middle-level Starmalls. "We are ...

RANDOM WALKER | Watch out for stock market volatility in 2H
interaksyon.com - 2014-07-01
similar to last year, could end up panicking and selling at loss just before the market settles down and makes a comeback. (An MBA degree holder, the author used to be research head of BusinessWorld, and before that of Anscor Hagedorn Securities.)

Jessica Soho retires as GMA-7 VP for news
Rappler - 2014-07-01
MANILA, Philippines - Veteran journalist Jessica Soho has retired from her post as the first vice president for news programs of GMA Network Inc, the television network announced Tuesday, July 1. "I can never thank the network enough for everything it ...

Megawide goes into power generation
Rappler - 2014-06-30
MANILA, Philippines - Megawide Construction Corporation on Monday, June 30, said it would spend $100 million to build a portfolio of 100 megawatts of renewable energy over the next two years. In line with this, the company signed an agreement with ...

Megawide enters power generation business
interaksyon.com - 2014-06-30
MANILA - Megawide Construction Corp is entering the power generation business in its bid to double earnings and revenues in the next 3 years. In a disclosure to the Philippine Stock Exchange, Megawide said it entered into an agreement with renewable energy ...

PhilRealty to tear down El Pueblo for new high-rise project
interaksyon.com - 2014-06-30
MANILA - Philippine Realty Holdings Corp plans to raise fresh capital following its exit from court-assisted rehabilitation. On the sidelines of its stockholders meeting on Monday, outgoing PhilRealty president Amador Bacani told reporters that the ...

Yao holding firm to infuse P2B into local RC Cola bottler
Philstar - 2014-06-29
MANILA, Philippines - Listed Macay Holdings Inc., led by former ambassador Alfredo Yao, is infusing more than P2 billion into subsidiary ARC Refreshment Corp., the sole Philippine bottler and distributor of RC Cola. In a disclosure, the company said its ...

Robinsons Retail doubles spending to P7B this year
philstar.com - 2014-06-29
Robinsons Retail Holdings Inc. will take advantage of the under-penetrated Philippine retail market backed by robust economic growth, its top official said. "For 2014, Robinsons Retail will more than double the number of stores that were opened last year.

Manila ports still crammed due to truck ban, road works
Philippine Daily Inquirer - 2014-06-28
District collectors will also be working with private port operators Asian Terminals Inc. and International Container Terminal Services Inc. to identify consignees that have shipments that have been cleared for release by the BOC but still remain inside ...

Yao firm pours P2B in ARC Refreshments
Inquirer - 2014-06-28
Macay Holdings Inc., an investment holding firm led by businessman Alfredo Yao, is infusing P2.09 billion in fresh equity in ARC Refreshments to finance the purchase of machinery, equipment and other assets to be used in its bottling operations. In a ...

ANZ, Mizuho Bank to help finance Ilocos wind project expansion
Rappler - 2014-06-28
MANILA, Philippines - The ­Lopez-led Energy Development Corporation (EDC) has secured another bridge financing facility with two international banks to partly bankroll the expansion of its wind power project in Burgos, Ilocos Norte. EDC signed a bridge ...

Cosco investing P10b in 2014 for expansion
Manila Standard Today - 2014-06-28
Cosco Capital Inc. is spending P10 billion this year to fund the expansion of real estate, supermarket and community mall businesses as well as possible acquisitions. Cosco president Leonardo Dayao said in an interview at the sidelines of the annual ...

Macay infuses P2b into bottling unit
Manila Standard Today - 2014-06-28
Macay Holdings Inc. said Friday its board of directors approved the infusion of P2 billion worth of additional capital into beverage unit ARC Refreshments Corp. Macay Holdings said in a disclosure to the stock exchange the board approved the payment of 187 ...

EEI wins P9.9-B power plant contract
Manila Bulletin - 2014-06-27
EEI Corporation has won a P9.9 billion contract with NEPC Power Construction Corporation for the construction of a 3 X 135 Mw coal-fired power plant for FDC Utilities at the PHIVIDEC Industrial Estate in Misamis Oriental. In a disclosure to the Philippine ...

P3.5-B Arthaland Tower rising in BGC
Inquirer - 2014-06-27
MANILA, Philippines--Arthaland Corp., a boutique property developer led by the Po and Gonzales families, is breaking into the office property business by investing P3.5 billion to build what it says will be an "iconic" and "world-class" 30-story ...

Macay Holdings infusing P2 B into beverage unit
Inquirer - 2014-06-27
MANILA, Philippines--Macay Holdings Inc., an investment holding firm led by businessman Alfredo Yao, is infusing P2.09 billion in fresh equity into ARC Refreshments to finance the acquisition of machinery, equipment and other assets to be used in its ...

Cosco more than doubles war chest for takeovers, Puregold's convenience store rollout
interaksyon.com - 2014-06-27
On the sidelines of its stockholders meeting on Friday, Cosco Capital Inc president Leonardo Dayao told reporters that the company has built up a war chest of P10 billion for 2014. This is more than double the P3-4 billion spent last year. "Allow me to ...

Macay infusing P2B into RC Cola operations
interaksyon.com - 2014-06-27
In a disclosure to the Philippine Stock Exchange, Macay Holdings Inc said its board of directors cleared the additional subscription to 190 million shares of ARC Refreshments Corp at P10.00 per share for a total of P1.90 billion. Macay's board of directors ...

Macay infusing P2B into RC Cola operations
interaksyon.com - 2014-06-27
In a disclosure to the Philippine Stock Exchange, Macay Holdings Inc said its board of directors cleared the additional subscription to 190 million shares of ARC Refreshments Corp at P10.00 per share for a total of P1.90 billion. Macay's board of directors ...

QC to host half km-high tower
Manila Standard Today - 2014-06-27
Three media giants--GMA Network Inc. (Channels 7 and 11), ABS-CBN Broadcasting Corp. (Channels 2 and 23) and Associated Broadcasting Corp. (Channel 5)--are willing to collaborate, he adds. According to Endriga, the P15-billion project is covered by a loan ...

EEI wins P9.9-B power plant contract
Manila Bulletin - 2014-06-26
EEI Corporation has won a P9.9 billion contract with NEPC Power Construction Corporation for the construction of a 3 X 135 Mw coal-fired power plant for FDC Utilities at the PHIVIDEC Industrial Estate in Misamis Oriental. In a disclosure to the Philippine ...

PHILIPPINES PRESS-Anchor Land to launch $216 mln worth of residential projects this year - Manila Times
Reuters - 2014-06-26
Property developer Anchor Land Holdings Inc is set to launch two high-end residential projects worth a combined 9.5 billion pesos ($216.60 million) in sales value, in the latter part of this year, the Manila Times newspaper reported, quoting Anchor Land ...

Local shares extend gains to hit highest level this year
interaksyon.com - 2014-06-26
Most actively traded stocks were PLDT, Universal Robina, Ayala Land, SM Investments and GT Capital. The top gainers were Makati Finance Corp, Concrete Aggregates and Omico Corp, while the biggest losers were First Gen preferred shares, Central Azucarera ...

Philex earmarks P4B for big-ticket projects
Rappler - 2014-06-26
MANILA, Philippines - Listed Philex Mining Corporation has earmarked P4 billion ($91.11 million) for capital expenditures this year to finance the operations of the Padcal copper-gold mine in Benguet and the pre-development of the Silangan copper-gold ...

Tufts University professor leads speakers line-up at the 2nd Asian Business Conference
Inquirer - 2014-06-25
Wriston Professor of International Finance and Banking, and Academic Director of the Masters of International Business of The Fletcher School of Tufts University ... and Chief Executive Officer of Ayala Corporation. "The 2nd Asian Business Conference ...

The love story of GMA-7, Pangilinan and Ang
Rappler - 2014-06-25
The union of influential Filipino businessman Ramon S. Ang and second-liner Philippine media group GMA Network Inc. sounds like an arranged marriage between one party that has run out of options and another that has yet to make its media-telecom strategy ...

PBCom set to raise fresh capital
interaksyon.com - 2014-06-25
MANILA - The Philippine Bank of Communications (PBCom) on Wednesday said it will embark on a capital-raising activity either through the sale of debt papers or equities or by securing investors. In a disclosure to the Philippine Stock Exchange, the bank ...

Kuok company investing P20b
Manila Standard Today - 2014-06-25
High-end property developer Shang Properties Inc., a local unit of the Kuok Group of Malaysia, is spending over P20 billion this year and the next to build residential projects and refurbish office and shopping mall projects. Shang Properties executive ...

Shang Properties spends over P20B for simultaneous projects
Rappler - 2014-06-24
MANILA, Philippines - High-end property developer Shang Properties Inc. is spending over P20 billion ($456 million) in capital expenditures from this year to 2015, mainly for residential developments and refurbishment of existing office and shopping mall ...

SEC approves Phoenix Semiconductor's P2.65-B IPO
Rappler - 2014-06-24
MANILA, Philippines - The Securities and Exchange Commission (SEC) on Tuesday, June 24, approved the P2.65-billion ($60.42 million) initial public offering (IPO) of semiconductor manufacturing firm Phoenix Semiconductor Philippines Corporation.

Shang Properties allots P20B capex through 2015
interaksyon.com - 2014-06-24
MANILA - The local real estate arm of Malaysia's Kuok Group has set a 2-year capital expenditure budget of over P20 billion to finance the development of its upscale projects. On the sidelines of its stockholders' meeting on Tuesday, Shang Properties Inc ...

Shang Properties allots P20B capex through 2015
interaksyon.com - 2014-06-24
MANILA - The local real estate arm of Malaysia's Kuok Group has set a 2-year capital expenditure budget of over P20 billion to finance the development of its upscale projects. On the sidelines of its stockholders' meeting on Tuesday, Shang Properties Inc ...

GMA7 controlling shareholders agree to sell minority stake to San Miguel president
interaksyon.com - 2014-06-24
MANILA - (UPDATE 3, 2:38 p.m.) GMA Network Inc on Tuesday said its controlling shareholders agreed to sell a minority stake to the president of San Miguel Corp (SMC). "The company has been informed by its major shareholders that they have agreed to sell ...

Recent changes and developments in taxation
ey.com - 2014-06-24
This half-day Tax Seminar will cover a comprehensive discussion on the recent developments in taxation. It is aimed at providing updates of the recent issuances affecting the organizations in general. This seminar is designed to guide accounting and tax ...

DoubleDragon, SM acquire property for 1st community mall in Cavite
interaksyon.com - 2014-06-23
MANILA - The joint venture of DoubleDragon Properties Corp and SM Investments Corp has secured a property in Cavite for the site of its first community mall in South Luzon. In a disclosure to the Philippine Stock Exchange, DoubleDragon said CityMall ...

PSEi consolidation likely to continue
Manila Standard Today - 2014-06-23
Top losers were Keppel Philippines Holdings "A" shares, which dipped 18 percent to P4.10; Easycall Communications Philippines Inc., which dropped 16.4 percent to P2.74, and Melco Crown (Philippines) Resorts Corp., which fell 11.6 percent to P11.38.

Filipinos favor raising the official retirement age to 65
Rappler - 2014-06-22
MANILA, Philippines - Majority of Filipinos are strongly in favor of raising the official retirement age in the country, according to results from a survey published by Manulife, a Canadian insurance company and financial services provider. Manulife's ...

Manila cites The STAR as one of top taxpayers
Philstar - 2014-06-21
"We are honored and proud to be one of the top taxpayers of Manila. Our office has been in Port Area for the past 28 years. This is our first time to win this award," Belmonte said. "The city of Manila has been very good to our company and we are ...

Megaworld makes tourism bid via acquisition of Global-Estate Resorts
Rappler - 2014-06-21
MANILA, Philippines - Andrew Tan-led Megaworld Corporation has increased its stake in tourism estate ... Tan has consolidated his real estate business under Megaworld. Apart from GERI, Megaworld also owns Empire East Land Holdings Inc. and Suntrust ...

ALLIANCE GLOBAL GROUP, INC.
4 Traders - 2014-06-20
Alliance Global Group, Inc. is an investment holding company, which engages in the food and beverage, real estate, and quick service restaurant businesses.It operates through the following segments: Food and Beverage, Real Estate, and Quick Service ...

Yao transfers two Zest-O factories
Manila Standard Today - 2014-06-19
ARC Refreshments Corp., the beverage unit of Macay Holdings Inc. of businessman Alfredo Yao, is acquiring two manufacturing plants of Zest-O Corp. Macay Holdings said in a disclosure to the stock exchange the board of ARC Refreshments approved the purchase ...

Melco Crown raising P5.5B to fund casino project
Rappler - 2014-06-19
MANILA, Philippines - Melco Crown (Philippines) Resorts Corporation is raising P5.48 billion ($124.5 million) through a top-up offering to finance additional spending for its integrated resort and casino project within the government-sponsored ...