PSE net income jumps 35.1% to P844.8 M
Philstar - 2014-03-14
Philippine Business Bank and Asia United Bank Corp., AG Finance Inc., Harbor Star Shipping Services Inc., Travellers International Hotel Group Inc., Robinsons Retail Holdings Inc., Discovery World Corp. and Concepcion Industrial Corp. Del Monte Pacific Ltd ...

Moody's maintains ratings on BPI, Metrobank
interaksyon.com - 2014-03-14
The BFSR is equivalent to a baseline credit assessment (BCA) of Baa3, which remains in line with the sovereign rating of the Philippine government. Moody's said the credit profiles of BPI and Metrobank are "the most defensive and best positioned to ...

Boulevard Holdings seals deal to sell portion of Puerto Azul to Ayala Land
interaksyon.com - 2014-03-14
MANILA - Boulevard Holdings Inc has reached a deal to sell parcels of land in its Puerto Azul complex in Ternate, Cavite to Ayala Land Inc (ALI). In a disclosure to the Philippine Stock Exchange, the Panlilio-led Boulevard Holdings valued the transaction ...

Ramos eyes P4.2-b placement in Anglo
Manila Standard Today - 2014-03-13
Alakor Corp., a privately held investment and holding company controlled by businessman Alfredo Ramos, is infusing P4.2 billion in fresh equity into listed Anglo Philippine Holdings Corp. Anglo Philippine said in a disclosure to the stock exchange its ...

SEC approves IPO of Tan Caktiong-led property firm
Rappler - 2014-03-13
of the property firm owned by Jollibee Foods Corporation chairman Tony Tan Caktiong and businessman Edgar "Injap" Sia II. DoubleDragon Properties Inc. will offer 579.730 million primary shares for up to P2 per share, documents filed with the SEC showed.

PBCom acquires rural bank in Laguna
interaksyon.com - 2014-03-13
MANILA - Philippine Bank of Communications (PBCom) has acquired a rural bank in Laguna. In a statement, PBCom said it recently signed an agreement to acquire all the shares of the Rural Bank of Nagcarlan Inc (RBNI), which has six branches. Signing the ...

National Bookstore's Alfredo Ramos infuses fresh capital into Anglo Holdings
interaksyon.com - 2014-03-13
MANILA - A company controlled by Alfredo Ramos of National Bookstore fame is infusing fresh equity into Anglo Philippine Holdings Corp. In a disclosure to the Philippine Stock Exchange, Anglo Holdings said its board of directors cleared on Wednesday the ...

National Bookstore's Alfredo Ramos infuses fresh capital into Anglo Holdings
interaksyon.com - 2014-03-13
MANILA - A company controlled by Alfredo Ramos of National Bookstore fame is infusing fresh equity into Anglo Philippine Holdings Corp. In a disclosure to the Philippine Stock Exchange, Anglo Holdings said its board of directors cleared on Wednesday the ...

Thailand's Asiasoft inches closer to controlling Philippines' biggest online game publisher
interaksyon.com - 2014-03-13
MANILA - IP E-Game Ventures Inc has completed its divestment from the country's biggest online game publisher and distributor. In a disclosure to the Philippine Stock Exchange, IP E-Game said it authorized on Wednesday the delivery to Thailand's Asiasoft ...

Cebu Pacific's profits dive
Rappler - 2014-03-12
MANILA, Philippines - The operator of top Philippine carrier Cebu Pacific reported on Thursday, March 13, that its net profit plunged more than 85% for last year on huge foreign exchange losses from a weaker peso. Cebu Air reported an after-tax net ...

On The Horizon - Renewable Energy in Asia: Korea
JD Supra - 2014-03-12
1. What are the driving factors for increasing renewable energy production in Korea? On 15 August 2008, President Lee Myung-Bak declared "Low-Carbon, Green Growth" as the new 60-year national vision for Korea, announcing that implementing green growth ...

New Manulife Phl CEO
philstar.com - 2014-03-11
He added that Manulife Financial views the Philippines as important to its overall Asia growth strategy. Business ( Article MRec ), pagematch: 1, sectionmatch: 1

ABS-CBN takes out P1B loan from Philamlife
interaksyon.com - 2014-03-11
MANILA - ABS-CBN Corp has secured a loan from a local insurance company to finance its capital expenditure for this year. In a disclosure to the Philippine Stock Exchange, the Lopez-owned broadcasting company said it has obtained a P1 billion loan from the ...

Metrobank raising funds from Tier 2 notes issuance
interaksyon.com - 2014-03-11
MANILA - Metropolitan Bank & Trust Co is raising funds through the issuance of tier 2 notes, with the proceeds meant to boost its capital and support growth. In a disclosure to the Philippine Stock Exchange, Metrobank said the public offer period for the ...

Aicelle and Maricris remain with GMA Network
Manila Standard Today - 2014-03-10
Kapuso singers Aicelle Santos and Maricris Garcia signed exclusive contracts with GMA Network Inc.. Present at the contract signing were GMA Chairman and Chief Executive Atty. Felipe L. Gozon, GMA Vice President for Entertainment TV Marivin T. Arayata ...

Phl investors most upbeat on econ growth prospects
philstar.com - 2014-03-10
MANILA, Philippines - Philippine investors are the most upbeat in Asia over economic growth prospects, according to a survey conducted by Manulife Financial. Manulife Investor Sentiment Index for Asia showed that Philippine investor sentiment, along with a ...

Weak China, Japan economic data temper PH stock market's gain
interaksyon.com - 2014-03-10
Most actively traded stocks were PLDT, ICTSI, Universal Robina, SM Investments and Metro Pacific. Top gainers were Paxys, Anglo and Mabuhay Holdings, while the biggest losers were Panasonic, BDO Leasing and 8990 Holdings. "The PSEi closed in the green ...

Weak China, Japan economic data temper PH stock market's gain
interaksyon.com - 2014-03-10
Most actively traded stocks were PLDT, ICTSI, Universal Robina, SM Investments and Metro Pacific. Top gainers were Paxys, Anglo and Mabuhay Holdings, while the biggest losers were Panasonic, BDO Leasing and 8990 Holdings. "The PSEi closed in the green ...

Mla Jockey Club to put up football complex in Carmona business park
philstar.com - 2014-03-09
MANILA, Philippines - Horse racing operator Manila Jockey Club Inc. (MJC), controlled by the Reyno family, will put up a football complex as part of the redevelopment of its business park south of Metro Manila. In a regulatory filing, MJC said it signed a ...

Montemaria project in limbo
Philippine Daily Inquirer - 2014-03-08
A chapel worth P30 million was built on the property. The project website (montemaria.ph) of developer Abacus Consolidated Resources and Holdings Inc. describes the development as a shrine that will attract devotees and pilgrims but will also serve as a ...

Montemaria project in limbo
Philippine Daily Inquirer - 2014-03-08
A chapel worth P30 million was built on the property. The project website (montemaria.ph) of developer Abacus Consolidated Resources and Holdings Inc. describes the development as a shrine that will attract devotees and pilgrims but will also serve as a ...

Berjaya PH acquiring London property firm
Manila Standard Today - 2014-03-08
Berjaya Philippines Inc., the local unit of Malaysian conglomerate Berjaya group, is acquiring a stake in London-based property developer RBW Holdings Ltd. This will be the second acquisition of Berjaya Philippines in the United Kingdom, after it acquired ...

Montemaria project in limbo
Philippine Daily Inquirer - 2014-03-08
A chapel worth P30 million was built on the property. The project website (montemaria.ph) of developer Abacus Consolidated Resources and Holdings Inc. describes the development as a shrine that will attract devotees and pilgrims but will also serve as a ...

Michael Martinez pulls out of World Juniors
Rappler - 2014-03-08
MANILA, Philippines - Filipino figure skater Michael Christian Martinez will no longer be competing at the 2014 Junior World Figure Skating Championships in Bulgaria. In a stement released on the SM Investments Corporation Facebook page, his mother Maria ...

PSBank rolls out Money Market Fund
GMA Network - 2014-03-07
Philippine Savings Bank (PSBank), the Metrobank Group's thrift bank, on Friday said it expanded its portfolio of products by rolling out Money Market Fund. "These are low-risk investments which provide higher returns than time deposit or regular savings ...

PSBank launches UITF for first-time investors, retirees
interaksyon.com - 2014-03-07
MANILA - The thrift unit of Metropolitan Bank and Trust Co on Monday will launch its first unit investment trust fund (UITF) for first-time investors and retirees. In a statement, Philippine Savings Bank said the PSBank Money Market Fund would require an ...

Boulevard Holdings plans P250 million bank loan for projects
interaksyon.com - 2014-03-07
MANILA - Boulevard Holdings Inc is taking on fresh borrowing to acquire properties and develop luxury boutique resorts. In a disclosure to the Philippine Stock Exchange, the Panlilio-led holding firm said its board of directors authorized the company to ...

Manila Jockey, PFF to build football field in Cavite
interaksyon.com - 2014-03-07
MANILA - Manila Jockey Club Inc has inked a deal with the Philippine Football Federation (PFF) to jointly develop a football complex at the San Lazaro Leisure and Business Park in Carmona, Cavite. In a disclosure to the Philippine Stock Exchange ...

BSP clears Philippine Business Bank's bid to put up 21 new branches
interaksyon.com - 2014-03-06
MANILA - Philippine Business Bank (PBB) is expanding its branch network, with a view to widening its reach in the small and medium enterprises (SME) market. In a disclosure to the Philippine Stock Exchange (PSE), the 17-year old bank owned by former ...

Electronics industry, shipping firms in talks to move out of Manila ports amid truck ban
interaksyon.com - 2014-03-06
Lachica said they are already talking with Asian Terminals Inc. (ATI), which also operates the Port of Batangas. For years, truckers had been complaining about the difficulties of passing through several Batangas towns from the port to their point of ...

SSS on the prowl for Filipino fund managers to handle P3B worth of investments
GMA Network - 2014-03-06
Social Security System, the pension fund for private sector employees, on Thursday said it is now reviewing a pool of Philippine managers to handle and grow P3 billion worth of investments. "We're going to choose them based on the amount of assets that ...

Atlas Mining says core profit up 4% to P2.62b
Manila Standard Today - 2014-03-06
Atlas Consolidated Mining and Development Corp. posted a core income of P2.62 billion in 2013, up 4 percent from 2012 despite lower metal prices. Revenues dropped 7 percent to P14.45 billion also on decreased metal prices, but this was offset by an 8 ...

Security Bank to focus on retail banking
Sun Star - 2014-03-05
PUBLICLY-listed Security Bank underwent re-branding and will now focus on retail banking or consumer financing ... Our goal is to ultimately make retail the third business pillar for the bank as a consistent source of revenue base to balance with our ...

Meralco to refund customers
Philstar - 2014-03-05
MANILA, Philippines - The Manila Electric Company (Meralco) will refund power consumers who have paid the deferred electricity charges as indicated in its enhanced billing statements. The deferred charges were the subject of the temporary restraining order ...

Bangko Sentral gives Philippine Business Bank license to open 21 branches
GMA Network - 2014-03-05
Bangko Sentral ng Pilipinas gave Philippine Business Bank, the thrift banking arm of businessman Alfredo Yao's Zest-O group, the go ahead to open 21 new branches this year. In a disclosure to the Philippine Stock Exchange Wednesday, the thrift bank said ...

10 Filipinos among world's billionaires
Rappler - 2014-03-05
Sy, who chairs one of the Philippines' largest family conglomerates SM Investments Corporation, ranked 68th in 2013 ... Forbes' 2014 world's richest list includes a record 1,645 billionaires, up from 1,426 in 2013. Together, the billionaires have a ...

Not again! PLDT-GMA sale talks fall through
Rappler - 2014-03-04
MANILA, Philippines - Dominant carrier Philippine Long Distance Telephone Company (PLDT) said Tuesday, March 4 that talks for a stake in broadcast giant GMA Network Inc. (GMA 7) collapsed anew. Will the parties ever reach a deal? PLDT chairman Manuel V.

Lucio Co buys largest NE mall
philstar.com - 2014-03-04
MANILA, Philippines - Cosco Capital Inc., the investment vehicle of Puregold owner Lucio Co, has acquired the company behind the largest commercial mall in Nueva Ecija, marking its first buyout of a provincial shopping center. In a regulatory filing ...

5 GOCCs scrapped, 7 more on way out
Philstar - 2014-03-04
Aquino had approved the abolition of the National Agribusiness Corp. (NABCOR), Zamboanga del Norte Rubber Estate Corp. and Philippine Forest Corp., which were linked to the alleged misuse of the pork barrel or Priority Development Assistance Fund (PDAF ...

Century Properties completes third tower of Azure Resort
interaksyon.com - 2014-03-04
MANILA - Century Properties on Tuesday said it has completed and turnover of the third tower at Azure Urban Resort Residences in ParaƱaque City. In a statement, the listed property developer owned by former ambassador Jose Antonio said 98 percent or over ...

Lucio Co buying Nueva Ecija mall
Manila Standard Today - 2014-03-04
Cosco Capital Inc., the holding company of businessman Lucio Co, said Monday it will acquire a Nueva Ecija-based shopping center that is partially owned by infrastructure conglomerate Metro Pacific Investments Corp. Cosco Capital said in a disclosure to ...

Lucio Co's Cosco Capital buys out MPIC's stake in Cabanatuan mall operator
GMA Network - 2014-03-03
(Updated 3:52 p.m.) Lucio Co's listed retail conglomerate Cosco Capital Inc. has acquired the shareholdings of Manuel Pangilinan's Metro Pacific Investments Corp. (MPIC) in the largest mall operator in Cabanatuan, Nueva Ecija. In a disclosure to the ...

MPIC sells Cabanatuan shopping mall stake to Puregold's parent
interaksyon.com - 2014-03-03
"The NEPSCC shares were non-core assets of MPIC. Cosco Capital Inc. also acquired the remaining issued and outstanding capital stock of NEPSCC from the other NEPSCC shareholders," the local arm of Hong Kong-listed First Pacific Co Ltd said. NEPSCC owns ...

MPIC sells Cabanatuan shopping mall stake to Puregold's parent
interaksyon.com - 2014-03-03
"The NEPSCC shares were non-core assets of MPIC. Cosco Capital Inc. also acquired the remaining issued and outstanding capital stock of NEPSCC from the other NEPSCC shareholders," the local arm of Hong Kong-listed First Pacific Co Ltd said. NEPSCC owns ...

Heavy traffic, not school days, should be reduced
Philstar - 2014-03-03
Centro Escolar University president Ma. Cristina Padolina said the MMDA should review existing traffic rules instead of reducing the number of school days. "Implement traffic rules. That would be a big help right now," Padolina said, adding that the ...

SMDC forming subsidiary to sell ready-for-occupancy units
interaksyon.com - 2014-03-02
MANILA - SM Development Corp (SMDC) is forming a new subsidiary that will lease and sell ready-for-occupancy (RFO) units. Aye Luna, SMDC assistant vice president for marketing, last week told reporters that a maximum of 20 percent of units in future ...

SMDC forming subsidiary to sell ready-for-occupancy units
interaksyon.com - 2014-03-02
MANILA - SM Development Corp (SMDC) is forming a new subsidiary that will lease and sell ready-for-occupancy (RFO) units. Aye Luna, SMDC assistant vice president for marketing, last week told reporters that a maximum of 20 percent of units in future ...

Cebu Holdings selling P5-B bonds
Manila Bulletin - 2014-03-01
Cebu Holdings Inc., an affiliate of Ayala Land Inc., is planning to raise P5 billion through the issuance of bonds that will carry a tenor of up to eight years. In a disclosure to the Philippine Stock Exchange, CHI said the bonds will be sold through a ...

On The Horizon - Renewable Energy in Asia: Hong Kong
JD Supra - 2014-02-27
Hong Kong has a population of about 7 million and is highly energy dependent. Energy consumption has been rapidly increasing, mainly due to economic growth and the influx of immigrants from the Mainland. Hong Kong does not have indigenous energy resources ...

5 Escolarians top optometrists exam
Philstar - 2014-02-27
MANILA, Philippines - Centro Escolar University proves to be one of the top Optometry schools in the country with the sterling performance of its graduates in the December 2013 Licensure Examination for Optometrists. Leading the new batch of topnotchers is ...