Property News

By Revin Mikhael D. Ochave, Reporter THE Securities and Exchange Commission (SEC) warned the public against investing in Binance as it moved to have the world’s largest cryptocurrency exchange blocked in the country. In a statement on Wednesday, the SEC said it issued...

A SUPREME COURT ruling lifted a previous court order that temporarily reinstated Japanese tycoon Kazuo Okada as shareholder and chief executive officer of Okada Manila, effectively removing him from the leadership of the casino resort. In a statement, Okada Manila...

THE board of Energy Development Corp. (EDC) has approved the public offering, issuance, and listing of the P10-billion second tranche of the company’s shelf-registered green bonds, its listed parent firm told the stock exchange on Wednesday. Lopez-led First Gen Corp....

ALSONS Consolidated Resources, Inc. (ACR) has raised P1.149 billion from the third tranche of its commercial paper (CP) program, the company said on Wednesday. “The proceeds derived from this will primarily be used for ACR’s general working capital, showcasing the...

AYALA-LED ACEN Corp. has signed a term loan facility worth P20 billion, the energy company said on Wednesday. In a stock exchange disclosure, the company said the loan is part of the “modifications and entry into a sustainability-linked loan facility with Asian...

THE Asian Development Bank (ADB) has recommended extending the bid submission deadline for the rehabilitation of the Ninoy Aquino International Airport (NAIA) until January next year. In a document obtained by reporters, the bank said the proposal is meant to give...

BASIC ENERGY Corp. is seeking franchises to deploy 6,500 electric buses (e-buses) in different routes in the country within five years, the company said on Tuesday. In a project brief disclosed to the local bourse, the listed energy firm said it is seeking 82...

THE healthcare arm of Ayala Corp. is set to open its P3-billion Healthway Cancer Care Hospital (HCCH) in Taguig City early next year, marking the full operation of what is said to be the country’s first specialty hospital for cancer. “We plan to open our operations by...

LISTED Ayala subsidiary Integrated Micro-Electronics, Inc. (IMI) has named Alberto M. de Larrazabal as its new chairman of the board after his predecessor resigned. IMI said in a stock exchange disclosure on Tuesday that Mr. Larrazabal, who is an incumbent director,...

TELECOMMUNICATIONS company Eastern Communications is expanding its footprint by extending its services to Pangasinan as part of its commitment to help boost digitalization growth. “Expanding to Pangasinan provides us an immense opportunity to finally be able to bridge...

TWO of the country’s largest electricity distributors expect the tightness in power supply to continue next year, although some relief may be provided by the completion and return to operation of some power plants. “It’s still gonna be tight kasi wala naman bagong...

By Ashley Erika O. Jose, Reporter LISTED telecommunications and information and communications technology (ICT) companies are expected to post better results in 2024, driven by the strong demand for digital services and as firms roll out their expansion plans. “The...

CAPITAL raising at the Philippine Stock Exchange (PSE) may not reach P200 billion next year, the bourse operator’s top official said. “Hindi natin kaya ang P200 billion (We cannot hit P200 billion),” PSE President and Chief Executive Officer Ramon S. Monzon told...

LISTED property developer Century Properties Group, Inc. (CPG) expects to perform better in 2024, said its top official who remains cautious despite his optimism for the year ahead. “Our outlook [for next year] is actually cautiously optimistic. There are many reasons...

PROPERTY developer Federal Land, Inc. is bullish about its year-end performance led by its residential portfolio, its top official said. “We’re doing great. 2019 was our best year ever. And as of end-October, we’ve already exceeded 2019 numbers. We’re very optimistic...

ABOITIZ Power Corp. (AboitizPower) is setting aside P50 billion as capital expenditure (capex) budget next year mostly for the expansion and construction of its renewable energy (RE) projects. “Ballpark of about P50 billion for all our capex. A lot of that is for the...

Electric utility denies overcharging allegations POWER RATES for consumers served by Manila Electric Co. (Meralco) undergo a review and confirmation process, the listed electricity seller said on Sunday, as it denied overcharging allegations. In a media release, the...

DMCI Mining Corp. is set to begin operating two mining sites by next year, its top official said over the weekend. Tulsi Das C. Reyes, DMCI Mining president, told reporters that one of its mine sites in Zambales is expected to begin operations during the first quarter...

EXPRESSWAY operator MPT South Corp. is setting aside P11.95 billion for its capital expenditure (capex) budget for the next two years. The unit of Metro Pacific Tollways Corp. said the majority of the capex will fund the ongoing construction of existing projects such...

THE government needs to fast-track the crafting of policies and a framework that will help advance the development of sustainable aviation fuel (SAF), as the aviation sector targets to cut carbon emissions by utilizing green fuel, an airline executive said. “The...

By Meg J. Adonis | Philippine Daily Inquirer November 23, 2023 MANILA -Renewables in Mindanao now comprise 37 percent of its overall energy mix, making it possible for the island group to achieve 50-percent clean energy share by the end of the decade, the Energy...

By Ashley Erika O. Jose | BusinessWorld November 23, 2023 SAN MIGUEL Corp. (SMC) and Ayala Land, Inc. (ALI) have forged a partnership to integrate the property firm’s Arca South to the Skyway Stage 4 project, the listed conglomerate said on Wednesday. The two parties...

By Moises Cruz | The Manila Times November 20, 2023 THE Tourism Infrastructure Enterprise Zone Authority (Tieza) has reaffirmed its commitment to support infrastructure projects that spur economic growth. One of the projects is the Cebu-Magdugo 230 kilovolt (kV)...

By The Manila Times November 24, 2023 THE peso recovered on Thursday, but the stock market edged lower as investors took the opportunity to take profits. The currency strengthened by 6 centavos to P55.39 against the dollar, while the benchmark Philippine Stock...

By A.M.C. Sy | BusinessWorld November 22, 2023 THE GOVERNMENT made a full award of the reissued Treasury bonds (T-bonds) it offered on Tuesday at an average rate below secondary market levels as central banks here and abroad kept borrowing costs steady. The Bureau of...

By Louise Maureen Simeon | The Philippine Star November 22, 2023 MANILA, Philippines — The government borrowed P20 billion in long-term securities after demand surged and investors sought lower rates. The Bureau of the Treasury yesterday fully awarded P20 billion for...

By Ashley Erika O. Jose | BusinessWorld November 24, 2023 THE ABOITIZ group is targeting to integrate artificial intelligence (AI) across its units, the top official of Aboitiz Data Innovation Pte. Ltd. (ADI) said, as the company sees broader adoption and interest in...

By Brix Lelis | The Manila Times November 21, 2023 ABOITIZ Equity Ventures Inc. (AEV) on Monday said that it had signed an agreement, along with Coca-Cola Europacific Partners Plc (CCEP), to jointly acquire Coca-Cola Beverage Philippines Inc. (CCBPI). CCBPI, valued at...

By Revin Mikhael D. Ochave | BusinessWorld November 21, 2023 THE board of Gokongwei-led JG Summit Holdings, Inc. has approved a proposal to infuse up to P11 billion into its petrochemical subsidiary to boost the latter’s operations. In a stock exchange disclosure on...

By Alden M. Monzon | Philippine Daily Inquirer November 24, 2023 MANILA -The value of new investments approved by the Philippine Economic Zone Authority (Peza) from January to November grew by more than twofold, reaching P140.884 billion in total as the investment...