In a statement released March 1, 2019, House of Investments Inc. (PSE: HI) increased its holdings in La Funeraria Paz-Sucat Inc., bringing its total controlling interest to 63%. Related Articles:Ayala Education Unit to Merge with iPeopleAyala Acquires NTCAyala Proposes Merger of AC Education with iPeoplePHStocks Exclusive: Top 30 Best Performing Stocks in May 2017PHStocks Exclusive: […]
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Aboitiz InfraCapital Inc. (AIC), the infrastructure business unit of the Aboitiz Group (PSE: AEV), was granted Original Proponent Status (OPS) by the Civil Aviation Authority of the Philippines (CAAP) on February 26, 2019 for its unsolicited proposal for the upgrade, expansion, operations, and maintenance of the Laguindingan Airport in Misamis Oriental. The PhP42.7 billion project […]
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The Securities and Exchange Commission (SEC) has approved the merger between Philippine Resources Banking Corp. (PR Savings) and City Savings Bank Inc., a wholly-owned subsidiary of Union Bank of the Philippines (UnionBank, PSE: UBP). PR Savings, a thrift bank, is 100% owned by City Savings. The merger between both banks is in line with UnionBank’s […]
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Cebu Landmasters Inc. (PSE: CLI) is collaborating to put up more hotel projects with The Ascott Limited in the Visayas and Mindanao. Jose Soberano III, Cebu Landmasters chief executive officer, says the company sees opportunity as the projected growth in tourist arrivals would require additional capacity. “The Philippines pales in comparison to our Asean neighbors,” […]
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D&L Industries Inc.’s (PSE: DNL) recurring income reached PhP3.2 billion in 2018, up by 10% year-on-year (YoY). Earnings before interest and taxes were higher by 8% at PhP4 billion. In the last quarter of 2018, net income reached PhP785 million, flat YoY. Blended gross profit reached a record high of 22% in 4Q18, bringing the […]
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Bloomberry Resorts Corp. (PSE: BLOOM), owner and operator (through its subsidiaries) of the Solaire Resort & Casino and Jeju Sun Hotel & Casino, reported audited consolidated financial results for the year ended December 31, 2018, with the company reporting the highest levels of EBITDA and net profit since its flagship property Solaire opened in March […]
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D&L Industries Inc. (PSE: DNL) was named as Philippines’ Best Mid-Cap Company in FinanceAsia’s 19th Annual Poll. In addition, D&L was ranked 7th overall in Best at Investor Relations category. FinanceAsia is a Hong Kong-based publication reporting on Asia’s financial and capital markets. Its annual survey provides an in depth analysis of Asia’s listed companies, […]
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PHINMA Petroleum and Geothermal Inc. (PPG), a subsidiary of PHINMA Energy Corp. (PSE: PHEN), relinquished its 14.063% participating interest in SC 6 Block B, approval of which was granted by the Department of Energy on October 30, 2018. PPG believes that the remaining prospects in the block are either uneconomic or high risk and, therefore, […]
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