DMCI unit poised to turn over Masbate coal-fired power plant
CONSUNJI-LED DMCI Power Corp. is conducting testing and commissioning of its 15-megawatt (MW) coal-fired power plant in Masbate to replace its existing facility in the off-grid island in Bicol that runs on diesel fuel.
PSE approves CPG preferred shares offering
CENTURY Properties Group, Inc. (CPG) said it has gained the approval of the Philippine Stock Exchange (PSE) for its preferred shares offering of up to P3 billion.
Cemex’s $250-million stock rights offer gets go signal
CEMEX Holdings Philippines, Inc. (CHP) said it has obtained clearance from corporate regulators for its plan to conduct a stock rights offer (SRO) that will raise as much as $250 million (approximately P12.66 billion).
Filinvest acquires resort developer in Thailand
FILINVEST Development Corp. (FDC) is acquiring a Thailand-based firm which is developing a luxury resort.
Phoenix Petroleum inks deal with US-based firm
PHOENIX Petroleum Philippines, Inc. said on Monday a subsidiary signed a memorandum of agreement with a US-based company to bring in power generation sets that run on different gases.
Jollibee opens store with 2 drive-thru lanes
JOLLIBEE Foods Corp. (JFC) is pioneering a two-lane drive-thru system in the Philippines to address the growing volume of customers ordering through the transaction option.
Unioil-linked group starts tender offer for CIP shares
A group, which includes a company owned by the Unioil Group, Inc. on Monday began a tender offer to acquire 33.03% of Chemical Industries of the Philippines, Inc.’s (CIP) outstanding capital stock.
VMC full-year profit up 6% on higher sugar prices
VICTORIAS Milling Company Inc. (VMC) has reported a 6% growth in its attributable income for fiscal year 2019, driven by high sugar prices and the early start of operations of its distillery plant.
How PSEi member stocks performed — December 16, 2019
Here’s a quick glance at how PSEi stocks fared on Monday, December 16, 2019.
SMC submits proposal for elevated highway on EDSA
SAN MIGUEL Corp. (SMC) has submitted a proposal to the Department of Transportation (DoTr) to build an elevated expressway along Epifanio de los Santos Avenue (EDSA), in order to address traffic congestion.
DMCI continues slide as government cancels extension of water concession deals
THE government’s decision to revoke the extension of the concession agreements with Metro Manila’s two water providers last week led investors to sell their shares in affected listed firms, such as DMCI Holdings, Inc. which has a minority stake in Maynilad Water Services, Inc.
EDC keeps top rating for P7-B bonds
ENERGY Development Corp. (EDC) was again given the top credit rating by local debt watcher Philippine Rating Services Corp. (PhilRatings) for its P7-billion outstanding bonds.