Ayala Restructures Energy Business

Ayala Corp.’s (PSE: AC) board of directors approved the restructuring of Ayala’s energy business that will result in the creation of two wholly owned platforms, Renewable Energy and Thermal Energy. The restructuring will be undertaken through the following steps: 1. Creation of a new holding company: AC Renewables Inc. 2. Transfer of renewable assets to […]
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Nickel Asia Estimates 9% Growth in 2017 Shipment Value

Nickel Asia Corp. (PSE: NIKL) has announced that the company’s estimated value of shipments in 2017 rose by 9% to PhP14.45 billion from PhP13.23 billion in 2016. Although shipment volumes were lower compared to the prior year, the increase in revenues was due to higher average prices, in part the result of a change in the […]
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2017 Foreign Portfolio Investment Transactions Show Net Outflows

Registered foreign portfolio investments for 2017 aggregated $16.1 billion, 8.9 percent lower than the $17.6 billion level in the previous year, according to the Bangko Sentral ng Pilipinas (BSP). On a monthly basis, the lowest gross inflows were recorded in August ($936 million) while the peak was noted in June ($2 billion). On a quarterly […]
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BPI Approves Stock Rights Offer for Up to PhP50 Billion

Bank of the Philippine Islands (PSE: BPI) approved a stock rights offering (SRO) of common shares to eligible shareholders to raise up to PhP50 billion to support its growth and strategic initiatives in the coming years. The bank believes that the Philippine banking sector continues to present significant medium and long-term growth prospects and that […]
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GT Capital to Subscribe in Metrobank Stock Rights Offer

GT Capital Holdings Inc. (PSE: GTCAP) has disclosed that it intends to fully subscribe in Metropolitan Bank and Trust Co.’s (Metrobank, PSE: MBT) stock rights offer (SRO), as disclosed by Metrobank on 17 January 2018. GT Capital currently owns 36.09% of Metrobank, one of the country’s largest banks in terms of assets, deposit base, and […]
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Metrobank Board Approves SRO

Metropolitan Bank & Trust Company (Metrobank, PSE: MBT) received Board approval to conduct a Stock Rights Offer (SRO) by way of issuance of up to a maximum of 819,827,214 common shares, which is equivalent to the remaining unissued shares from the bank’s authorized capital stock. Timing and size of the transaction are subject to other […]
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BSP and PPMI Sign MOA to Strengthen Governance in the Retail Payment System

The year 2018 ushers in a milestone for reforms in the retail payment system as the Bangko Sentral ng Pilipinas (BSP), represented by Governor Nestor A. Espenilla Jr., and the Philippine Payments Management Inc. (PPMI), represented by Chairman Justo A. Ortiz, signed the Memorandum of Agreement (MOA) between the BSP and PPMI on 12 January […]
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Phoenix Petroleum Inks Joint Venture Agreement

The Board of Directors of Phoenix Petroleum Philippines Inc. (PSE: PNX) has approved and authorized the execution of a joint venture agreement with TIPCO Asphalt Public Co. Ltd and Carlito B. Castrillo of PhilAsphalt (Dev’t) Corp. for the purpose of operating, marketing and distribution of Bitumen and Bitumen-related products in the Philippines. Related Articles:PHStocks Exclusive: […]
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