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BPI sells shares in GoTyme Bank
The Bank of the Philippine Islands sold its 752 million common shares of GoTyme Bank Corp. to GoTyme Financial Pte. Ltd. and Giga Investment Holdings Pte. Ltd, the bank said yesterday......»»
First Common Man Coffee to open at Ayala Triangle
Jollibee Foods Corp. has incorporated a joint venture company called FCJB Foods Inc. to bring Tiong Bahru Bakery and Common Man Coffee Roasters in the Philippines......»»
Jollibee opens first Common Man Coffee Roasters in Philippines
The Jollibee Group has successfully brought Singapore’s Common Man Coffee Roasters to the Philippines, with the opening of its first cafe at the Ayala Triangle Gardens......»»
Ayala Corp. impacted by Mitsubishi’s discount stake sale
Ayala Corp shares were down as much as 5.7% yesterday on news that Mitsubishi Corp. has started a process to sell 8.6 million AC common shares at a 7% to 9% discount to Wednesday’s P696/share close......»»
Ayala buys St. Joseph Drug
The Ayala Group has further expanded its healthcare footprint by acquiring another pharmaceutical chain......»»
The Case for Waiting for Sales Instead of Buying Immediately
We all know someone who almost always buys the best of the best items once they release, even though it’s not that important. Impulsive buying is a common challenge for many consumers, especially those who want first dibs on all new releases. However, waiting for a sale and taking a more prudent approach will have […].....»»
Ayala Group further trims Manila Water stake to 22.5%
In a disclosure to the Philippine Stock Exchange yesterday, Ayala said its wholly owned unit Philwater Holdings Co. Inc. would sell 288.998 million MWC common shares and 436.24 million MWC participating preferred shares......»»
Stable, reliable power for ARCA South Taguig
The Manila Electric Company has energized a new smart substation in Taguig City to ensure the provision of stable and reliable power for Ayala Land Inc.’s Arca South development and the adjacent communities in the area. Entailing a capital investment of P597 million, the new 115 kV-34.5 kV gas-insulated switchgear substation was commissioned with an initial capacity of 83 megavolt amperes but will ultimately house three transformer banks with a combined capacity of 249 MVA that will support the existing and future energy requirements of the Arca South development, a new business and lifestyle district in Taguig City. [caption id="attachment_182269" align="aligncenter" width="1167"] Meralco senior vice president and chief revenue officer Ferdinand O. Geluz. Ayala Land senior vice president and group head Robert S. Lao, Taguig City District 2 Councilor Alexander S. Penolio, Meralco chairman and chief executive officer Manuel V. Pangilinan and Meralco executive vice president and chief operating officer Ronnie L. Aperocho.[/caption] Aside from catering to the growing energy needs of the Ayala estate, the Arca South substation will also improve voltage regulation in parts of Taguig City, provide operational switching flexibility during contingencies and contribute to system loss reduction in the area. Some of the communities and establishments that will benefit from the new substation include AC Health’s Healthway Cancer Care Hospital, Ayala Malls Arca South, Alveo Veranda, Avida Towers Vireo, Landers Superstore Arca South, Maharlika Village, Puregold FTI Taguig, Sunshine Mall Plaza, Taguig Pateros Hospital and Technological University of the Philippines-Taguig. “As we continue to build upon the foundations of Arca South, we are ensuring that the energy needs of this community are met with efficiency and resilience. This substation represents more than just a physical structure; it represents our dedication to sustainable urban development. It is a cornerstone of progress, enabling us to power homes, businesses and innovations that will drive Arca South's growth and development,” Robert Lao, Ayala Land senior vice president and group head for Ayala Land Estates, said. Meralco executive vice president and chief operating officer Ronnie L. Aperocho, for his part, said the development of the Arca South substation forms part of Meralco’s unceasing support to commercial customers like Ayala Land that play a vital role in the country’s economic growth and development. “The opportunity to participate in the master planning of Ayala estates has allowed Meralco to serve more customers and further cement our commitment to keep the lights on. As a testament to that, this newly energized smart substation in Arca South Taguig will provide safe, adequate and reliable capacity to serve the existing and future power requirements of this particular Ayala Land development, and the adjacent communities in the area,” Aperocho said during the inauguration of the project. The Arca South project is the latest development in Meralco’s longstanding partnership with Ayala Land. Over the past several years, Meralco has energized nearly a hundred projects of Ayala Land and its subsidiary, Makati Development Corporation, including One Ayala and Seda Manila Bay. In addition, Ayala Land consistently provides a substation lot provision for its estate developments. Meralco has been investing heavily on projects that will not just improve its electricity distribution system, but also contribute to ensuring that the infrastructure to support the government’s nation-building efforts are in place. “We share a common goal, which is to uplift the lives of our people and we encourage the active participation and engagement of the private sector in the present economic programs,” Meralco chairman and chief executive officer Manuel V. Pangilinan said during the inauguration. The post Stable, reliable power for ARCA South Taguig appeared first on Daily Tribune......»»
GSIS buys up 12% MPIC stake
State pension fund Government Service Insurance System, or GSIS, has accumulated shares in diversified Metro Pacific Investments Corp,, or MPIC, the flagship company of tycoon Manny V. Pangilinan which is up for bourse delisting. The state financial institution led by veteran investment banker Wick Veloso has amassed the MPI shares the past two weeks, buying a total of 2.5 billion shares from 23 August to 4 September. In a report to the stock market, MPIC said it received a letter from GSIS dated 4 September informing the company that from 23 August to 4 September, GSIS purchased 2,490,509,574 common shares of MPIC. GSIS also mentioned that as a result of these purchases, GSIS now owns 3,438,549,038 common shares which represents approximately 11.98 percent of the total outstanding common shares of MPIC. Strong challenge Analysts said the GSIS move poses a challenge to the MPIC proposal to leave the stock exchange. COL Financial research head April Lynn Tan said that with the purchases, MPIC share owners may not attain its target to acquire 95 percent of the company which is pivotal to the delisting plan. MPIC chairman and chief executive Manuel Pangilinan on Monday expressed hope the consortium would secure enough shares to push through with the plan. “The tender period will expire on 7 September, so let’s wait. We are hopeful that the amount of shares will translate to qualification for delisting,” Pangilinan said. In a social media post, Tan said the delisting option can still pull thorugh. “According to industry peers, there is still a chance that the delisting will push through. Since GSIS now owns 12 percent (more or less) it might not be counted in the public float based on PSE proposed amendments. This means that the tender offer might proceed if over 14.58 percent of share owners tender their shares,” she added. The post GSIS buys up 12% MPIC stake appeared first on Daily Tribune......»»
Ayala expands EV business with Gogoro joint venture
The Ayala Group is on a roll in expanding its electric vehicle or EV business, especially after it formally established Gogoro Philippines Inc., a joint venture that paves way for the much-awaited launch of Taiwan’s Gogoro two-wheeled EV battery- swapping technology in Metro Manila. Ayala Corp. or AC informed the stock exchange on Friday that AC- 917Ventures, and Gogoro SG have executed its Joint Venture Agreement for the partnership last 24 August. Thus, Gogoro PH will undertake the importation, sale, distribution, operation, management, and maintenance of two-wheeled electric scooters with battery swap technology under the Gogoro brand and battery swapping stations for E-Scooters. Likewise, it will handle the after-sales services business, which may include the importation and distribution of other E-Scooter brands compatible with local battery swapping stations. Subscription Agreement As part of the deal, AC entered into a Subscription Agreement with Gogoro PH to subscribe to 42 million common shares of Gogoro PH, representing a 21 percent stake. Meanwhile, 917Ventures, a wholly-owned subsidiary of Globe Telecom Inc., will own 98 million common shares or almost half or 49 percent of Gogoro PH. Gogoro SG, on the other hand, is a wholly-owned subsidiary of Gogoro Inc., a listed company that has developed a battery-swapping refueling platform for urban electric two-wheeled scooters, mopeds, and motorcycles. It will own 60 million common shares, which is equivalent to 30 percent of the venture. The post Ayala expands EV business with Gogoro joint venture appeared first on Daily Tribune......»»
Designer Jie -jie Aisa on muse Nikki de Moura
So far, the city of Cagayan de Oro in Mindanao has produced two beauties of international caliber: Miss Universe 2015 Pia Alonzo Wurtzbach and Miss InterContinental 2021 Cinderella Faye Elle “Cindy” Obeñita. Hoping to make it a Beauty Queen Trinity is Nikki Advincula de Moura, the newly crowned Miss Grand Philippines who will compete for the global title in Vietnam come October. [caption id="attachment_173643" align="aligncenter" width="525"] Miss Grand Philippines 2023 Nikki de Moura, wearing a terno by Jie-jie Aisa, in front of the Saint Augustine Metropolitan Cathedral in Cagayan de Oro. | Photograph Courtesy of James Paculba.[/caption] There are great expectations that De Moura, who is of exquisite mix of Brazilian and Filipino blood, will finally snatch the elusive Miss Grand International crown. Helping her to achieve this feat is her glam team from Cebu and her beauty camp in her native CDO. At the national finals, De Moura wore a creation by Eclectic Image Fashion Studio by Jie-jie Aisa for the national costume competition. It was called “Oportunidad de Oro” or “Golden Opportunities,” inspired by the city’s mythical golden fish which is believed to be its protector. It was one of the top five in the category. For her homecoming after her victory, De Moura once again wore a Jie-jie Aisa creation. “The gown beautifully blends two symbolic colors — green, representing unity and #KaubanTaUY, and gold, paying homage to CDO’s renowned title as the City of Golden Friendship,” the designer noted. “A true embodiment of grace and local pride, Nikki shines bright during her homecoming motorcade, capturing hearts of Kagay-anons and embodying the essence of this remarkable city. Thank you to LGU-CDO headed by Mayor Rolando ‘Klarex’ Uy for making this possible.” Incidentally, the bustling city is in the midst of celebrating its Higalaay Festival, a major highlight of which is the Mindanao Fashion Summit from 23 to 25 August at the Ayala Centrio Mall. As the president of the Designer’s Assembly, Jie-jie will lead his group’s presentation on the second day, 24 August. “As the president, my key duties and responsibilities encompass leading and guiding the organization’s strategic direction, fostering a collaborative environment among budding designers, overseeing project initiatives, coordinating events and workshops and representing the interests of our members within the design community,” the genial designer said. “I am dedicated to ensuring the growth and success of our group by nurturing creativity, facilitating skill development and promoting meaningful engagement within the design industry.” On the eve of the 12th Mindanao Fashion Summit, the designer, who considers Gil Macaiba III, the late Benjie S. Manuel and Cary Santiago as influences, recounts his collaborative relationship with his muse, De Moura. Origins “My acquaintance with Nikki de Moura developed through mutual connections within the fashion and pageant industry. Our paths crossed after a local beauty camp in Cebu City introduced her to our camp in Cagayan de Oro City, the #TeamAmega. Since I am the official designer of our beauty camp, I had the opportunity to design her creative national costume as well as her outfits during her homecoming. “The idea of a creative collaboration for her gowns/outfits emerged organically from recognizing the synergy between our camp’s visions, we jointly initiated the collaboration, fueled by a shared passion for crafting unique and captivating ensembles that would resonate with her style and my design expertise.” Muse “Nikki exemplifies the essence of a stunning Jie-jie Aisa muse through her remarkable blend of grace, confidence and distinctive style. Her ability to effortlessly carry both traditional and contemporary ensembles reflects the dynamic spirit of the Jie-jie Aisa brand. Nikki’s poise and fashion-forward sensibilities resonate with the brand’s commitment to celebrating cultural heritage while embracing modern aesthetics. As a local fashion designer, collaborating with such a muse has been an inspiring journey, elevating my creations to new heights of elegance and sophistication.” Collaborations “Throughout the collaboration between myself as a local fashion designer and Nikki, we found common ground in our enthusiasm for integrating indigenous design elements into the collection. However, there were nuanced differences in our visions, particularly concerning the color palette’s vibrancy and the extent of embellishments. By fostering open dialogue and embracing a spirit of mutual respect, we arrived at a compromise that elegantly balanced the client’s preference for a more subdued palette with my inclination for bolder accents. This harmonious negotiation resulted in a collection that seamlessly reflects both Nikki’s refined taste and my artistic perspective.” Pride “I am immensely proud of Nikki’s accomplishments, both as Miss Teen Philippines 2019 and more recently as Miss Grand Philippines 2023. These achievements reflect not only her individual dedication and perseverance but also the embodiment of our nation’s beauty, talent and grace on esteemed platforms. Nikki’s success brings honor not just to herself but also to the Philippines, and it is a privilege to have contributed to my journey as a local fashion designer. Her victories inspire me to continue creating designs that complement and enhance the remarkable qualities of individuals like Nikki.” Preparations “From our perspective, the entire #TeamAmega is wholeheartedly committed to providing unwavering support to Nikki during her time in Vietnam. As for her national costume, we are awaiting confirmation from the Miss Grand Philippines Organization regarding my potential involvement in designing her ensemble. Rest assured we are eagerly prepared to contribute our expertise to ensure her representation is nothing short of exceptional.” Challenges “As a designer, crafting pageant gowns presents a unique set of challenges that require a delicate balance between artistic expression and meeting specific criteria. Ensuring that the gown captures the contestant’s individuality while aligning with the pageant’s theme and standards demands meticulous attention to detail. “Additionally, incorporating elements that reflect cultural authenticity and modern aesthetics requires thoughtful navigation. The challenge lies in harmonizing these diverse aspects to create a gown that not only enhances the contestant’s beauty and confidence but also makes a lasting impression on the judges and audience.” “Working with beauty queens brings its own distinct dynamic compared to designing for everyday women. Beauty queens possess a heightened sense of stage presence and a requirement for gowns that accentuate their elegance under the spotlight. The meticulous attention to fit, silhouette and materials is magnified.” The post Designer Jie -jie Aisa on muse Nikki de Moura appeared first on Daily Tribune......»»
AREIT posts P1.01B quarter income
Ayala Land-sponsored AREIT Inc., the country’s real estate investment trust pioneer, has booked a P1.01-billion first quarter net income, up 27 percent annually driven by property expansions and stable operations. In a report on Thursday, AREIT also disclosed that its revenues during the quarter reached P1.48 billion, 25 percent higher than the topline figures posted a year ago. Meanwhile, its Earnings Before Interest, Taxes, Depreciation, and Amortization or EBITDA during the period clocked in at P1.04 billion — 24 percent higher year-on-year. As of end-March, AREIT recorded an average occupancy of 97 percent and strong collection performance, which reflected high-quality tenancy in its properties. Stockholders’ approval secured To further expand its local portfolio, AREIT has recently secured the approval of its stockholders on its third property-for-share swap with its sponsor, Ayala Land Inc. The transaction involves flagship offices and malls with an aggregate value of P22.5 billion in exchange for 608 million AREIT primary common shares, as validated by a third-party fairness opinion. The move, according to AREIT, will almost triple the Company’s Assets Under Management to P87 billion. Likewise, it will boost its gross leasable area by more than five-fold to 863 thousand square meters from its initial public offering. Effectively, it will make AREIT one of the largest and the most diversified commercial REITs in the Philippines. Last year, AREIT delivered a dividend of P1.98 apiece to shareholders, 12 percent higher than the P1.77 issued in 2021. The post AREIT posts P1.01B quarter income appeared first on Daily Tribune......»»
Co-ownership presumed in void marriages
Last week, I wrote about the partition of properties that follows after the marriage between spouses is declared null and void. As discussed then, whatever property regime (absolute community, conjugal partnership or complete separation) the parties followed during marriage will not come into play once the marriage is annulled. This is so because as expressly declared by Article 147 of the Family Code, properties acquired during cohabitation after the same has been declared null, shall be considered co-owned by the parties. By co-ownership means, the once-married spouses now own them fifty-fifty. But note that said provision of the law expressly states that “in the absence of proof to the contrary, properties acquired while they lived together shall be presumed to have been obtained by their joint efforts, work or industry, and shall be owned by them in equal shares.” From the above, co-ownership is a disputable presumption. So for as long as a party proves otherwise, the fifty-fifty presumption will not be upheld by the courts. Ok, so what if during the marriage, husband A buys a house. In the title, the registered owner is only him, although it explicitly states that he is married to his wife B. B, on the other hand, purchases a condominium unit. The title this time bears only her name as the registered owner, without even any express mention that she is married to A. Let us just say that one day, one of them obtains a declaration of nullity of their marriage and partition of property follows. So we all know that whatever properties they obtained during the time they lived together will be co-owned by them, correct? Yes, that is right. But can A claim that the house he bought is his alone as borne by the title itself. Had they, A and B, jointly bought them, then the registered owners should be them both. Following that argument, can B now claim that her title to the condominium unit is enough proof to show that it was acquired solely through her efforts? Well as things seem, yes; the presumption of co-ownership has been overcome. And necessarily, the house must go to A alone while the condominium to B exclusively. Will this be a correct interpretation of the provisions of the Family Code? Here is how the Supreme Court resolved the issue in Virginia Ocampo v. Deogracio Ocampo (G.R. No. 198908 promulgated on 3 August 2015). “From the foregoing, property acquired by both parties through their work and industry should, therefore, be governed by the rules on equal co-ownership. Any property acquired during the union is prima facie presumed to have been obtained through their joint efforts. A party who did not participate in the acquisition of the property shall be considered as having contributed to the same jointly if said party’s efforts consisted of the care and maintenance of the family household. Efforts in the care and maintenance of the family and household are regarded as contributions to the acquisition of common property by one who has no salary or income or work or industry. In the instant case, both the trial and appellate courts agreed that the subject properties were in fact acquired during the marriage of Virginia and Deogracio. We give due deference to factual findings of trial courts, especially when affirmed by the appellate court, as in this case. A reversal of this finding can only occur if petitioners show sufficient reason for us to doubt its correctness. There is none, in this case. Likewise, we note that the former spouses both substantially agree that they acquired the subject properties during the subsistence of their marriage. The certificates of titles and tax declarations are not sufficient proof to overcome the presumption under Article 116 of the Family Code. All properties acquired by the spouses during the marriage, regardless in whose name the properties are registered, are presumed conjugal unless proved otherwise. The presumption is not rebutted by the mere fact that the certificate of title of the property or the tax declaration is in the name of one of the spouses only. Article 116 expressly provides that the presumption remains even if the property is ‘registered in the name of one or both of the spouses’. Thus, the failure of Virginia to rebut this presumption, said properties were obtained by the spouses’ joint efforts, work or industry, and shall be jointly owned by them in equal shares. Accordingly, the partition of the former spouses’ properties on the basis of co-ownership, as ordered by the RTC and the appellate court, should be affirmed.” Clear as day then. The fact that a title is solely in the name of a spouse does not overcome the presumption of co-ownership. It takes more than that. What then is needed to overcome the presumption? Consult your counsel. The quoted provision of the decision is from the case mentioned above. The post Co-ownership presumed in void marriages appeared first on Daily Tribune......»»
BPI unit buys auto leasing, rental firm
A unit of Ayala-led Bank of the Philippine Islands is acquiring a group of companies engaged in auto leasing and rental services as it aims to transform fleet management in the country......»»
Globe uses bulk of SRO proceeds for infrastructure projects
Ayala-led Globe Telecom Inc. has allocated 60 percent of its P17 billion gain from a fundraising activity for network upgrades that seek to improve its mobile and common infrastructure......»»
Ayala Land [ALI] cuts residential projects to fund logistics, land buys
The Ayala Family’s property development arm disclosed in its Reinvestment Plan report that it has reallocated the use of the proceeds from the IPO of AREIT last year......»»
AC Energy and Singapore& rsquo;s wealth fund set to conclude P11.88-billion shares sale next week
AC Energy Corp., the energy arm of Ayala Corp., said Wednesday it expects to conclude a P11.88-billion private placement by issuing 4 billion common shares to Arran Investment Pte. Ltd., an affiliate of GIC Private Ltd. of Singapore next week......»»
AREIT buys P5.1-B office mall
AREIT Inc., the real estate investment trust sponsored by Ayala Land Inc., has acquired a mall and office development in Pasig City from the real estate giant for P5.1 billion. In a disclosure to the Philippine Stock Exchange, AREIT said it is buying The 30th, a 76,000 square meter commercial development located along Meralco Avenue in Pasig City. “The asset will increase AREIT’s portfolio to 246,000 square meters of GLA from 170,000 square meters and will contribute to its net income and dividends in 2021,” AREIT said. The 30th is a commercial development that was planned and developed by Ayala Land and completed in 2017. The office building is fully occupied predominantly by BPO companies. The 30th includes an amenity retail podium which will be operated and leased by Ayala Land from AREIT. Simultaneous to the acquisition of the building by AREIT, ALI will assign the long-term land lease to AREIT. AREIT wil lease office spaces to tenants, and the retail podium to Ayala Land under a fixed lease as operator of the retail spaces. The acquisition will be funded through debt. It will be a cash purchase with the installment schedule to be agreed by the parties. Currently, AREIT has no debt thereby allowing it to acquire assets that are yeld accretive through leverage. “This demonstrates AREIT’s ability to grow its portfolio and add value to its shareholders while its Sponsor, Ayala Land, Inc. can recycle the capital for its real estate projects in the Philippines,” AREIT said......»»
AREIT buys Ayala Malls The 30th, raises funds for more buyouts
Apart from Ayala Malls The 30th, AREIT also now owns the building host to Teleperformance Cebu, a business process firm, as well as three office buildings in Makati City namely Solaris One, Ayala North Exchange and McKinley Exchange. .....»»
Numerous Individuals and Businesses Profit from Trump Media Stock
Former President Donald J. Trump’s social media company, Truth Social, had a successful first official trading session on the Nasdaq, with shares surging and approaching.....»»