27 C
Makati City
Thursday, July 27, 2017
ISUZU Philippines Corp., the local unit of Japanese truck maker Isuzu, grew by 7 percent year-to-date, as it continues to hold a strong position in the commercial-vehicle (CV) segment. According to a statement by the Japanese car brand, Isuzu Philippines’s sales amounted to 14,225 units in the first half of 2017...
THE Independent Philippine Petroleum Companies Association (IPPCA) is expecting gasoline prices to surge by P7.65 as a result of an impending increase in excise tax on all petroleum products and increase in locally produced ethanol. “With the increase in excise taxes compounded by the increase in prices brought about by...
SHARE prices rose again to another year-high on Thursday despite profit-taking limiting its climb. The benchmark Philippine Stock Exchange index (PSEi) gained 8.27 points to close at 8,045.78 points, the highest it achieved for the year. The main index already reached 8,106.74 points as investors decided to pocket their gains. The...
STI Education Services Group Inc. (STI ESG) said on Thursday that a Hong Kong-based firm has sent formal notice for the STI-brand school operator’s stake in its preneed business. In a statement, STI ESG added it received a letter of intent (LOI)  from Carret Private Investments Ltd. for the acquisition of...
LAGUNA AAAWater Corp. announced on Thursday it is committing capital expenditure of P5 billion in five years to secure its position as the country’s third-biggest water service provider. “We are aspiring to be for the whole country by 2019,” Laguna Water General Manager and COO Melvin John M. Tan...
PETROENERGY Resources Corp. (Perc) is looking at raising P1 billion via rights offer to boost its capital. In a disclosure on Thursday Perc said it expects to raise gross proceeds of approximately P1 billion. “The offer price and other details of the offer will be announced as soon as determined,” Perc told the...
MRC Allied Inc. and China Energy Engineering Group Guangdong Power Engineering Co. Ltd. (GPEC) signed a Memorandum of Understanding (MOU) to explore opportunities in the renewable-energy (RE) sector. “The purpose of the MOU is to confirm that both parties have an interest in developing renewable-energy projects in the Philippines as identified by...
TAIWANESE electronics firm New Kinpo Electronics Inc. will double the number of its 7,000 employees in its Philippine unit starting next year, in view of the establishment of a new manufacturing facility also in 2018. This is according to Philippine Chamber of Commerce and Industry (PCCI) President George T. Barcelon,...
CEMEX Holdings Philippines Inc. said its income dropped 46 percent during the first half of the year ending June as a result of depressed prices of cement products and higher operating expenses. The company added its profit for the period dropped to P486 million from last year’s P896 million as...
MASS-housing developer 8990 Holdings Inc. re-opened its in-house financing window to prop up the sales of its Vitas, Tondo project. 8990 President Januario Jesus Gregorio B. Atencio III said sales of units in the Tondo township project was “just okay” during the first few months after  it was  launched in...
CEMENT manufacturer Holcim Philippines Inc. said its income fell a wider 42 percent during the first half of the year on lower sales. Holcim Philippines said net income reached P2.1 billion for the first six months of the year, down from P3.66 billion last year. “Lower income was mainly due to...
TWO Citicore Power Inc. subsidiaries were awarded certificates of compliance (COCs) for their respective solar-power projects. The Energy Regulatory Commission (ERC) granted the COCs to Next Generation Power Technology Corp. (NGPT) on July 6 and to First Toledo Solar Energy Corp. (FTSEC) on July 18. The two wholly owned subsidiaries...
THE Motorcycle Development Program Participants Association (MDPPA) has recorded a 13-percent growth in motorcycle sales in the first half of the year, well within the industry group’s expectations of full-year sales for 2017. In a briefing on Monday MDPPA officials announced that motorcycle units sold in the first six months of...
THE Sun Group of Companies (SGC) said on Wednesday that it plans to spend P8 billion to P9 billion in the next three to five years as part of expanding their footprint in the hotel and leisure business. “We plan to build five more ‘Red Hotel’ branches within the next...
INSULAR Life Assurance Co. Ltd. has bagged two major awards from this year’s Insurance Asia Awards. The company said in a statement it was named “Domestic Life Insurer of the Year,” and recognized for its “Digital Insurance Initiative of the Year.” The awards were given on July 13 in Singapore. Insular...
SHARE prices were little changed on Tuesday as investors were lukewarm on President Duterte’s second State of the Nation Address (Sona) the Chief Executive delivered after trading hours of July 24. Analysts said investors continue to take their positions ahead of the earnings-report season, which may start next week, instead of using...
THE Permanent Court of Arbitration (PCA) has sided with Maynilad Water Services Inc. over its case of tariff-rate increase the water concessionaire of the west side of Metro Manila should have implemented beginning 2013. The three-man international tribunal also ordered the government of the Philippines to pay Maynilad some P3.42...
SM Markets said it has expanded the coverage of the Philippines—Aparri to General Santos—to 265 branches. SM Markets, the retail chain of the SM Group, said it has an expansion rate of 30 stores per year in every city and municipality in the Philippines. “It aims to bring its stores to...
THE Philippine Stock Exchange Inc. (PSE) decided to start delisting procedures against agricultural firm Calata Corp. even before it lifted the trading suspension. The PSE said in its notice it found Calata to have violated disclosure rules by 29 times from November 29, 2016, through June 20. The PSE also...
ABS-CBN Corp. announced recently that it partnered with property developer Ayala Land Inc. to launch a tent venue at the newly opened Ayala Malls Vertis complex in Quezon City. Paolo Pineda, who heads the business-development group of ABS-CBN, said the venue will be made available for rent within the fourth...
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