Meralco seeks ‘sound’ policies to cut power costs
MANILA Electric Co. (Meralco) has called on the incoming government leaders to lay down policies that will address the rising cost of electricity, and to diversify the country’s fuel sources to ensure energy security and affordability.
PSE clears P4.5-B North Star initial public offering
NORTH Star Meat Merchants, Inc. has secured approval from the stock exchange for its P4.5-billion initial public offering (IPO) of shares.
SEC revokes registration of pseudo-law enforcement firm
THE Securities and Exchange Commission (SEC) announced that it is issuing an order of revocation against New International Police Commission Philippine Command Association, Inc. (NIPCA).
8990 Holdings’ net earnings jump 23% to nearly P2B
8990 Holdings, Inc. reported on Tuesday that its first-quarter unaudited net profit jumped 22.7% to P1.9 billion as lockdown restrictions eased.
Vistamalls profit up 36% to P1.25 billion
VISTAMALLS, Inc. and its subsidiaries announced a 35.7% growth in its first-quarter attributable net income to P1.25 billion from P921 million in a period free from any seasonal effect on its finances.
How PSEi member stocks performed — May 31, 2022
Here’s a quick glance at how PSEi stocks fared on Tuesday, May 31, 2022.
Tax breaks give Converge more room for expansion
LISTED fiber internet service provider Converge ICT Solutions, Inc. said the approval of its tax incentives will allow more room for the company to further expand its fiber network to reach its goal of covering 55% of households in the Philippines.
ABS-CBN sees improved Q1 performance, cuts losses
ABS-CBN Corp. has seen its attributable net loss for the first quarter of the year narrow to P1.38 billion from a loss of P1.95 billion the previous year.
Alsons sets focus on two hydro facilities in 2022
ALSONS Consolidated Resources, Inc. (ACR), said in a disclosure on Monday that it will be focusing on advancing the development of two hydroelectric power projects in the Zamboanga Peninsula and Negros Occidental this year.
SMPC remits record P5.9-B royalty
SEMIRARA Mining and Power Corp. (SMPC) has remitted P5.9 billion in government royalty to the Department of Energy, which the listed energy company described as “the highest in its corporate history.”
ERC OK’s power supply for Occidental Mindoro
THE Energy Regulatory Commission (ERC) has granted temporary approval to a power supply agreement (PSA) between an energy provider in Occidental Mindoro and an electric cooperative in the same province.
EDC remits P12.4M to geothermal facility’s host towns
LOPEZ-LED Energy Development Corp. (EDC) has turned over P12.4 million to two local government units in Leyte that host its geothermal facility, a move called for by a government circular.