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Razon unit strengthens exposure in water infrastructure
The Razon Group’s joint venture with a privately owned Australian construction company plans to beef up its presence in the water infrastructure space to support its growth in the coming years......»»
Manila Water ramps up deep well output
Razon-led Manila Water Co. Inc. is planning to boost its deep well production to around 80 million liters per day (MLD) before the government implements the reduced water allocation for Metro Manila in the coming weeks......»»
PCC reviews Ayala unit’s acquisition of North Luzon drugstore chain
PCC reviews Ayala unit’s acquisition of North Luzon drugstore chain The Philippine Competition Commission (PCC) is conducting a deeper review of the proposed acquisition by Ayala Corp.’s unit of a substantial stake in North Luzon drugstore chain St. Joseph Drugstore......»»
Historically low valuation
The Philippine stock market bloodbath over the past two years saw the PSEi plummet from 7,122.6 on the last trading day of 2021 to 6,566.4 on the last trading day of 2022 for a 7.8 percent annual retreat and slide even further in 2023 to close at 6,450.0 on the last trading day of the year. In terms of valuation, the PSEi’s 2023 year-end 12.9x price-to-earnings (P/E) ratio does not fare well when compared against its past performance in prior years......»»
Manila Water borrows $110 million for refinancing
The holding company of Razon-led Manila Water Co. Inc. for its international ventures secured a $110 million three-year loan from two Singapore-based banks to refinance its existing debt......»»
SP New Energy suspended again for public float violation
SP New Energy was suspended at the close of trading on Friday by the PSE after a block sale pushed SPNEC’s public float down to 19.57%, below the PSE’s minimum public float requirement of 20%......»»
Manila Water explores Pangasinan supply deal
The consortium of Manila Water Co. Inc. and its wholly owned subsidiary, Manila Water Philippine Ventures continue to explore water supply partnerships with the Provincial Government of Pangasinan as it looks to revive the recently terminated concession agreement between the two......»»
ICT FY23 net income down 17% to US $511-M
International Container Terminal Services, the multi-national port operator owned by Enrique Razon, posted FY23 net income of $511 million, which was down 17% from FY22’s $618 million due to a “non-recurring and non-cash impairment of goodwill” related to ICT’s acquisition of Pakistan International Container Terminal, and to various other increases in expenses and liabilities......»»
Wasted water: One-third of the water produced by MCWD is wasted
CEBU CITY, Philippines – More than one-third of the water production in Cebu has been relegated to wasted water. Cebu City Mayor Michael Rama said that the Local Water Utilities Administration (LWUA) found that the non-revenue water (NRW) of the Metropolitan Cebu Water District (MCWD) had already reached 36 percent. NRW is the amount of.....»»
BSP boss shines spotlight on insider trading
As reported by the BusinessMirror, BSP Governor Eli Remolona gave a speech at the Manila Polo Club to a meeting of Rotary Club members where he noted the problem of insider trading, citing the specific example of how “nothing moves” when listed companies report overwhelmingly positive earnings because those trades were placed ahead of the announced earnings......»»
Task force to public: Continue water conservation
As the water level in major dams can drop further during the dry months, the Task Force El Niño is urging the public to continue conserving water to avert a possible water crisis, especially in Metro Manila......»»
NWRB cuts water supply for Metro next month
The National Water Resources Board will slash the water allocation for Metro Manila to 48 cubic meters per second from 50 cms starting mid-April to conserve water supply that has been impacted by the ongoing El Niño......»»
DoubleDragon unit Hotel101 Global readies US listing
Hotel101 Global Pte. Ltd., the Singapore-headquartered subsidiary of DoubleDragon Corp., has firmed up its planned listing in the United States through a merger with a special purpose acquisition company JVSPAC Acquisition Corp......»»
Marcos creates committee to facilitate right-of-way acquisition for railway projects
Marcos creates committee to facilitate right-of-way acquisition for railway projects.....»»
Inter-agency committee formed to streamline land acquisition for nat l railway projects
The government has created an inter-agency committee to standardize the process of land acquisition for the implementation of the country’s railway projects......»»
Aboitiz completes acquisition of Coca-Cola Philippines
The Aboitiz Group’s entry into the branded consumer goods space is ready to commence with its successful acquisition of Coca-Cola Beverages Philippines Inc......»»
Aboitiz, CCEP complete Coca-Cola Beverages Philippines Inc. acquisition
Aboitiz, CCEP complete Coca-Cola Beverages Philippines Inc. acquisition.....»»
PLDT’s acquisition of Sky Cable canceled
PLDT’s acquisition of Sky Cable canceled.....»»
AREIT completes P1.2-B cash acquisition of 153-room Seda Lio resort hotel
AREIT announced that it completed the acquisition of the 153-room Seda Lio resort-hotel in El Nido from subsidiaries of its sponsor, Ayala Land......»»
OceanaGold falls 6% in first day of trading
OceanaGold PH dropped a little over 6% in its first day of trading, falling P0.82 from its P13.33/share IPO price to close at P12.50/share......»»