31 C
Makati City
Tuesday, April 25, 2017
MJC Investments Corp. (MJCIC), a subsidiary of publicly listed company Manila Jockey Club Inc. (MJC), officially opened last Friday its P8-billion hotel and entertainment project within the 16-hectare on the back of continuous growth of the hospitality and gaming industry in the country. “I’m quite bullish that, as we diversify...
THE Manila Electric Co. (Meralco) recorded P4.8 billion in net income for the first quarter of the year, up 6 percent from the same period last year, mainly on account of higher revenues. Revenues grew by 10.6 percent to P66.6 billion at end-March this year, from P60.1 billion in the...
By Lorenz S. Marasigan and Recto Mercene LEGACY carrier Philippine Airlines (PAL) will take delivery of two new Boeing 777-300ERs in December. PAL President Jaime J. Bautista said these aircraft will be immediately deployed on the carrier’s London and US flights. “The Boeing aircraft will serve the Manila-London route, a move designed to...
LAGUNA-BASED Cirtek Holdings Philippines Corp. said its income surged by half last year to $7.6 million (about P380 million), from the previous year’s $5.1 million (P254 million), partly as a result of the strong performance of its semiconductor business that won three major contracts during the period. The company said...
THE board of directors of chemical firm SBS Philippines Corp. has approved the company’s stock-rights offering (SRO), composed of 350 million shares. “Anesy Holdings Corp., the company’s major shareholder, has indicated its support for the rights issue and will subscribe to any remaining stock-rights shares that will be unsubscribed after...
TO celebrate Earth Day, 60 SM Malls nationwide on April 22 spearheaded trash segregation and urged all consumers to collect recyclable materials, including paper, plastic, metal and glass. Since 2007, SM Malls had been promoting proper household-waste management via the “Trash-to-Cash Recycling Market”, held every first Friday and Saturday of...
OIL firms on Monday announced a price rollback in petroleum products, following three consecutive weeks of increase. The price of gasoline products will be reduced by P0.20 per liter, kerosene by P0.40 per liter and diesel by P0.30 per liter. The price adjustments will be implemented by Shell, PTT  and Eastern Petroleum at 6 a.m. on...
TO support the Department of Labor and Employment’s (DOLE) campaign against all forms of illegal contractualization, Globe Telecom Inc. is talking with its accredited third-party vendor-partners on the regularization of all contractual employees. Globe Legal Counsel Froilan Castelo said his group is pushing for the regularization of the employees of its third-party vendors, as...
EXPRESSWAY operator Metro Pacific Tollways Corp. (MPTC) is ready to start constructing the P55.9-billion Cavite-Laguna Expressway (Calax) anytime soon, pending the assurance the second package of easement will be delivered before it finishes the first section of the thoroughfare. Rodrigo E. Franco, the company’s president, said his group has received...
AYALA Corp., the country’s oldest conglomerate, said it would submit to the Duterte administration three unsolicited proposals for major infrastructure projects. AC Infrastructure President Rene Almendras said the three proposals includes the P25-billion, 8.6-kilometer toll road from Santa Mesa, Manila, to Mall of Asia, in partnership with the SM Group. “We...
MASS-HOUSING builder 8990 Holdings Inc. said it plans to launch two bigger projects in Mactan, Cebu province, with a combined cost of about P7 billion. The company said it will launch Deca Homes Mactan Prime and Urban Deca Homes Mactan. Both projects provide new affordable homes located just minutes from local...
SUBIC BAY FREEPORT—The Subic Bay Metropolitan Authority (SBMA) has lauded the entry here of the global shipping line Evergreen, saying it will increase the economic competitiveness of manufacturers and producers in the Central and Northern Luzon regions. SBMA Administrator Wilma Eisma, whose administration sought to further increase container traffic at...
AMERICAN giant GE is participating in an ongoing auction to build a major power project in the Philippines. “We have several discussions going.  Actually, there is a negotiation ongoing in Vietnam. We are bidding for big project in the Philippines,” GE Steam Power Systems Asia Pacific Regional Sales Leader Massimo Gallizioli...
ABOITIZ Power Corp. will initially offer within the year P3 billion of the proposed P30-billion retail bonds. The power firm filed on Thursday with the Securities and Exchange Commission (SEC) its proposed fixed-rate retail bonds in the aggregate principal amount of P30 billion, to be registered under the shelf-registration program of the...
SMART Communications Inc. emerged as the service provider with the fastest mobile-Internet service in the Philippines, with a company executive attributing such feat to its ongoing network modernization program. In a report based on actual mobile experience of OpenSignal app users, JP Morgan said Smart “leads in overall LTE download speeds...
COURIER LBC Express Holdings Inc. on Thursday said its profit last year more than doubled to P921.61 million, from P439.81 million in 2015. Consolidated revenues reached P8.85 billion, up 13 percent, from P7.8 billion. The company said total service revenues increased by 13.13 percent, at P8.7 billion, from P7.69 billion, due to the...
PHILIPPINE Spring Water Resources Inc. (PSWRI), the local manufacturer and distributor of Nature’s Spring bottled water, has tapped UGE International Ltd. to install solar rooftops with a total rated capacity of 3.5 megawatts (MW). UGE said it secured a contract to construct three additional solar projects for PSWRI. The projects...
THE management of the Davao-based Marsman Estate Plantation Inc. (Mepi) on Thursday accused two officials of the Department of Agrarian Reform (DAR) of misleading agrarian-reform beneficiaries (ARBs) on the issue of the agribusiness venture agreement (AVA) with the company. Setting aside the AVA will cause the company to stop the operation of...
ALLIANCE Global Group Inc. (AGI), the holding firm of businessman Andrew Tan, will become the country’s largest hotel owner in the country by 2020 after its property development arm would have completed a significant portion of its mixed-use developments. Tan, AGI chairman, said by 2020 the company will have a...
TRAIN operator Light Rail Manila Corp. (LRMC) has signed a P980-million agreement with construction firm First Balfour for the structural restoration of parapets, faulty concrete and the repair of river bridges of the Light Rail Transit Line 1. So far it is the largest single contract awarded for the existing...
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