METRO PACIFIC Investments Corp. said Tuesday it made a core net income of P194.9 million last year from a net loss of P25.4 million a year earlier.

Including a nonrecurring loss of P27 million, net income stood at  P167.9 million compared with a loss of P685.9 million in the same comparable period, the company said in a statement.

The considerable improvement in net income is because of Metro Pacific’s two operating companies, Maynilad Water Services Inc. and Landco Pacific Corp. Maynilad reported a net income of P1.2 billion and contributed P679.9 million to Metro Pacific’s core net income.

Landco’s results last year was a net income of P261. 2 million, from a loss of P12.9 million. It gave Metro Pacific P139.4 million in core net income, from P16.7 million.

FILINVEST Land Inc. and Megaworld Corp. paced a four-day climb among Philippine property stocks, the longest rally in more than two months, on speculation bank lending will boost home sales and office rents will rise.

Metro Pacific turns around from loss

METRO PACIFIC Investments Corp. said Tuesday it made a core net income of P194.9 million last year from a net loss of P25.4 million a year earlier.

FOUR companies that raised capital by selling shares in the market have deviated from how they said they would spend the money from the shares sale, the Philippine Stock Exchange (PSE) said Tuesday.

IP E-GAME Ventures Inc. (IP E-Games), a subsidiary of publicly traded IPVG Corp., has entered into a game-publishing and distribution deal with Korean game developer EST Soft.

VSSC Distribution Inc., an enterprise security-solutions provider, launched Tuesday the ForeScout Technologies clientless network access control (NAC) solutions in the Philippines.

NATIONAL Reinsurance Corp. of the Philippines said Tuesday its net income for 2007 rose 121 percent to P609 million from P275 million a year earlier.

Well-entrenched is the rule that by reason of the special knowledge and expertise of administrative departments over matters falling under their jurisdiction, they are in a better position to pass judgment thereon and their findings of fact in that regard are generally accorded respect, if not finality, by the courts (Palele v. Court of Appeals, 362 SCRA 141).