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Makati City
Thursday, May 25, 2017
DIGITAL services provider PLDT Inc. has cemented its leadership in the enterprise market after posting a solid 13-percent growth in revenues during this year’s first three months to P8.5 billion, thanks to strong data and tech-services uptake. “We are growing double-digit across all business pillars of the enterprise as PLDT...
CONGLOMERATE San Miguel Corp. (SMC) said it is spending $700 million (P34.97 billion) to build a packaging facility in its Davao industrial park that will include the country’s largest glass-manufacturing plant. SMC President and COO Ramon S. Ang told reporters the company is putting up a glass plant with a...
THE Philippine Stock Exchange (PSE)on Thursday said it is selling its office units that include parking spaces in Tektite Building in Ortigas, Pasig City, to Philippine Realty and Holdings Corp. (Philrealty). The PSE, the operator of the equities trading floor, said it is disposing of its four office units and 21 parking...
AS part of expanding its logistics capacity operations in the country, Royal Cargo said on Wednesday it will build a P1.2-billion multipurpose facility along Plaridel Bypass Road in Bulacan. Michael Raeuber, Group CEO of Royal Cargo Inc., said the specialized logistics company decided to build a facility in Bulacan to complement their existing...
PHOENIX Petroleum Philippines Inc. is acquiring Petronas Energy Philippines Inc. (Pepi), a subsidiary of Petronas Dagangan Berhad (PDB) engaged in selling and marketing liquefied petroleum gas (LPG) and other petroleum products. A memorandum of understanding was signed by the oil firm and PDB in relation to the planned 100-percent acquisition of...
By Lorenz S. Marasigan & Recto Mercene FILIPINO low-cost carrier Cebu Pacific has decided to suspend more than half of its operations in the Middle East (ME) due to intense competition in the market, a ranking official said on Wednesday. Paterno S. Mantaring, a vice president at Cebu Pacific, said his group has...
THE National Grid Corp. of the Philippines (NGCP) and the Department of Information and Communications Technology (DICT) are currently coordinating for a project partnership involving the use of transmission facilities for the country’s broadband program. As the country’s sole power-transmission operator, the NGCP has existing fiber-optic facilities that run across...
THE railway regulator has started the replacement works for the conveyance system of Light Rail Transit (LRT) Line 2 to provide a better riding experience to the commuting public. In a statement, Light Rail Transit Authority (LRTA) Administrator Reynaldo Berroya said his group has started replacing 32 defective elevators and...
THE National Renewable Energy Board (NREB) will propose to the Department of Energy (DOE) to extend the period for developers of hydro and biomass to complete their projects in order to avail themselves of the current feed-in tariff (FiT). The DOE has set an installation target of 250 megawatts (MW)...
WILLIAM Belo, the founder of home and construction retail chain Wilcon Depot Inc. (WDI), has stepped down as chairman of the company months after its initial public offering. Belo will be replaced by Bertram Lim, who was elected as independent director. Lim will serve out Belo’s remaining term as chairman...
Operations of Cebu Pacific in Mindanao remain normal, with no restrictions or limitations imposed on air travel by the authorities. However, in light of recent situation in Marawi City and the declaration of Martial Law in Mindanao, Cebu Pacific and Cebgo strongly advise all its passengers to allot sufficient travel time...
GLOBAL Business Power Corp. (GBPC) seeks to more than double its current power-generation capacity from 854 megawatts (MW) to as much as 2,000 MW in five years. “Our main thrust is to expand into other regions, particularly the Luzon and Mindanao markets. We are approaching our limit in the Visayas; we...
THE No. 4 auto player in the Philippines, Honda Cars Philippines Inc. (HCPI), is vying for a 30-percent increase in total vehicle sales this year, seeing Filipinos’ continuous appetite for cars, amid government discussions to increase the excise tax on automobiles. “We’re targeting a total of 32,000 units this year...
VITARICH Corp. said on Tuesday it is appropriating P80 million in capital expenditure (capex) this year, mainly to finance its expansion initiatives aimed at beefing up its production capacities all over the country. “ our plans moving forward, Vitarich is geared up for expansion nationwide to supply the increasing demand...
AMERICAN company JDA Software Group Inc. expects that half of its business in the domestic market will be coming from the logistics vertical by 2019. “I’m confident—because of the quality of the solutions and our ability to make those decisions with the data—that we will exit out with logistics...
DIGITAL services provider PLDT Inc. is divesting its investment in SPi Global, as global private markets investment manager Partners Group acquires the outsourcing company in a transaction valued at $330 million (P16.467 billion). In a filing to the stock exchange, the Filipino telco corporation said the transaction involves Partners Group’s...
PUBLICLY Listed company Century Properties Group Inc. (CPGI) bared on Monday it has allocated P205,065,833.76 for distribution of cash dividend to its equity holders next month. As per its disclosure with the local bourse, the property developer’s board of directors approved its declaration of regular cash incentives of P75,950,308.80, or P0.0065 per share. Meanwhile,...
LAZADA, the largest online store in Southeast Asia, is looking into building more hubs and logistics infrastructure nationwide to deliver growing orders for groceries, pet supplies and telco loads. The company is exploring the Philippine market further to set gauges that target profitable areas for hub expansion. Lazada Philippines...
CASUAL mobile-games maker Xurpas Inc. said it is working on more businesses as it struggles to reach its consumers. Nico Jose Nolledo, the company’s chairman and CEO, said part of its business model involves attracting other businesses into its platform to service customers, a system otherwise called business-to-business-to-customers (B2B2C). “The B2B2C...
PRICES of petroleum products will increase on Tuesday morning, oil firms announced on Monday. In separate advisories, the oil firms said they will raise gasoline prices by P0.65 per liter, diesel by P0.60 per liter, and kerosene by P0.70 per liter. PTT Philippines, Seaoil and Phoenix Petroleum said they will implement their respective...
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