Property News

GOTIANUN-LED conglomerate Filinvest Development Corp. (FDC) said it is aiming for at least 20% annual growth in net income over the next five years. “What we’ve announced is a four- or five-year plan of at least 20% annual growth,” FDC President and Chief Executive...

By Ashley Erika O. Jose, Reporter LISTED telecommunications and information and communications technology (ICT) companies may post strong financial results for the first quarter but may face challenges related to cybersecurity and industry changes, according to...

LOCAL discount grocery chain DALI has announced plans to expand its presence in Luzon, aiming to have up to 950 stores by the end of the year. “We’re only going to stay in Luzon for now…, (and) we’re probably going to hit about 900 (to) 950 stores by the end of this...

THE Securities and Exchange Commission (SEC) has warned the public against investing in XM and eToro, saying these online investment trading platforms are not authorized to sell or offer securities in the Philippines.  In an advisory posted on its website, the SEC...

THE Supreme Court (SC) has upheld an arbitral ruling directing CJH Development Corp. (CJH DevCo) to vacate the 247-hectare portion of the John Hay Special Economic Zone (John Hay SEZ) that it rented from the Bases Conversion and Development Authority (BCDA). The SC en...

THE Department of Environment and Natural Resources (DENR) said San Miguel Corp., Metro Pacific Investments Corp. (MPIC), and Manila Water Co., Inc. have submitted proposals for bulk water supply and hydropower projects. “Last December, we opened opportunities for...

LISTED fiber internet service provider Converge ICT Solutions, Inc. said it expects delays in completing its international subsea cable projects. “Imagine each country, you need to get some permits. It depends on the area, especially when you are passing Indonesian...

THE National Grid Corp. of the Philippines (NGCP) said it expects that the temporary restraining order (TRO) against a portion of the Hermosa-San Jose 500-kilovolt (kV) transmission line would be lifted to facilitate its full completion. “We’re really hoping that the...

TOYOTA Motor Philippines announced on Tuesday that it will introduce this week the new line of its hybrid electric crossover, the Corolla Cross. In a statement, Toyota said that the Corolla Cross has seen strong demand since its launch in 2020, citing its design,...

APPLEONE Medical Group, the healthcare arm of the AppleOne Group of companies that owns the Visayas Medical Hospital, said it has opened a laboratory in Cebu with the capacity to cater to 1,000 patients a day. The Visayas Medical Hospital (VMH) Laboratory, which was...

HOTEL 101 Global Pte. Ltd. (Hotel101), a unit of Philippine-listed property developer DoubleDragon Corp., is nearing its planned listing on the Nasdaq Stock Exchange with a valuation of over $2.3 billion (P130 billion) following a merger deal with a special purpose...

THE Philippine Stock Exchange (PSE) announced on Monday that 53 companies are Shari’ah-compliant, down from 55 previously. Three securities were removed from the list, while one was added, the PSE said, citing its quarterly screening for the period ending March 25....

RENEWABLE ENERGY developer Repower Energy Development Corp. (REDC) announced on Monday an agreement with the National Irrigation Administration (NIA) for the development of mini hydropower plants. The company and NIA have signed a memorandum of understanding seeking...

PO-LED Century Pacific Food, Inc. (CNPF) recorded a 12% increase in its 2023 net income to P5.6 billion, driven by higher sales. The listed food and beverage manufacturer saw an 8% growth in revenues to P67.1 billion despite the softening of its original equipment...

SECURITY Bank Corp. (Security Bank) announced on Monday a partnership with Mitsubishi Motors Corp. (Mitsubishi Motors) to offer financing services to the latter’s customers in the Philippines. The two companies will form a joint venture (JV), which is expected to...

GOTIANUN-LED conglomerate Filinvest Development Corp. (FDC) has allocated between P20 billion and P25 billion for its capital expenditure (capex) budget this year. FDC Chief Finance Officer Brian T. Lim said during a briefing last week that 60% of the budget would go...

LEVISTE-LED Solar Philippines Power Project Holdings, Inc. and its partner in Indonesia have signed a $14-million (P792 million) loan deal for a 25-megawatt (MW) solar farm project in East Bali. PT Medcosolar Bali Timur, Solar Philippines’ joint venture with...

FLAG CARRIER Philippine Airlines (PAL) said it expects passenger volume to rise by up to 20% this year. “We are projecting about 10%-20% growth,” Stanley K. Ng, president and chief operating officer of PAL, said on the sidelines of the company’s media briefing last...

LISTED CONVERGE ICT Solutions, Inc. is looking at cloud and virtual reality gaming as possible expansion routes for the fiber internet service provider. “In the future, maybe virtual reality, we can also enter that, also cloud gaming,” Converge Chief Executive Officer...

SUNLIGHT AIR is targeting to operate international flights in the next two years, its chief executive officer said.  “There are some current discussions, but it is not this year. (For now) everything is still private. Hopefully, in the next year or two years, we can...

The real estate investment trust (REIT) of Gokongwei-led property developer Robinsons Land Corp. (RLC) has increased its public float to 49.95% from 33.86% previously after completing an overnight block sale valued at P8.50 billion. RLC sold 1.73 billion common shares...

THE Bitanga family, known for its diversified investment portfolio, is moving its 31.2% stake in Rappler Holdings Corp., the company behind news site Rappler, from privately held Dolphin Fire Group, Inc. to publicly listed MRC Allied, Inc., both owned by the family....

THE BOARD of Rockwell Land Corp. has approved a P5-billion term loan facility with BDO Unibank, Inc. to fund its projects, the listed property developer announced on Thursday. The loan will have a term of up to ten years, Rockwell Land said in a disclosure. “The...

LISTED Metro Retail Stores Group, Inc. has opened a new distribution center in Santa Rosa, Laguna, as part of its expansion strategy in Luzon. “The significance of this new and modern warehouse transcends more than just logistics; it is the keystone of our ambitious...

THE operations of Subic Bay International Terminal Corp. (SBITC), a unit of Razon-led International Container Terminal Services, Inc., will now be part of Ocean Network Express’ China-Thailand-Philippines (CTP) service. “The service links the Port of Subic to East...

JETSTAR Asia is set to resume its direct flights to Clark by June, the Singapore-based low-cost carrier said on Thursday. “Clark Airport has always been a home to Jetstar and we are happy to serve their passengers again. This partnership provides passengers the...

WEST ZONE concessionaire Maynilad Water Services, Inc. said it is seeking approval from the Securities and Exchange Commission (SEC) for a proposed public offering of up to P12 billion in fixed-rate blue bonds. “Maynilad has submitted a registration statement to the...

GOTIANUN-LED conglomerate Filinvest Development Corp. (FDC) reported a 58% increase in its attributable net income to P8.9 billion for 2023 from P5.7 billion the previous year, driven by increased revenues across its business segments. The conglomerate recorded a 31%...

LISTED digital entertainment company DigiPlus Interactive Corp. has earmarked between P1.5 billion and P2 billion for its capital expenditure (capex) budget in 2024. This investment is aimed at boosting revenues and increasing the number of registered users, the...

THE Department of Energy (DoE) on Wednesday said it targets to conduct a second round of bidding for microgrid systems service providers within the year. This came after the DoE awarded the development of microgrid systems in eight unserved areas in the provinces of...