DMCI cuts spending on weak demand
CONSUNJI-LED DMCI Holdings, Inc. is reducing its capital expenditure by more than half, with its real estate business slowing down acquisitions for the rest of the year.
First-half imported car sales down 55% but June shows uptick
IMPORTED vehicle sales dropped 54.8% in the first half of 2020 after the lockdown led to dealership closures, so far exceeding the Association of Vehicle Importers and Distributors, Inc.’s (AVID) expected 40% full-year slump.
Vista Land seeks to raise $200M to refinance loans
VISTA LAND & Lifescapes, Inc. (VLL) is issuing $200-million (about P9.91 billion) senior guaranteed notes through a wholly owned subsidiary to refinance existing loans.
LRT-1 operator continues to suffer from low rider count
LIGHT RAIL Manila Corp. (LRMC), operator of Light Rail Transit Line 1 (LRT-1), continues to suffer from low ridership due to the ongoing coronavirus pandemic.
La Mesa treatment plant upgrade almost complete, says Maynilad
THE P7.9-billion upgrade of La Mesa treatment plants 1 and 2 in Quezon City are almost complete after quarantine restrictions have been eased by the National Government, according to west zone water concessionaire Maynilad Water Services, Inc.
Emperador projects sales from China to double
EMPERADOR, Inc. is expecting revenues from China to double at the end of the year as it has been recording double-digit sales growth from overseas markets in the first half.
WESM price tweaks prevented higher utility charges, says Meralco
MANILA ELECTRIC CO. (Meralco) welcomed the Supreme Court’s ruling which affirmed the Energy Regulatory Commission’s (ERC) order adjusting the spot market prices in two supply months in 2006, relieving consumers of paying additional P6 per kilowatt-hour (kWh) for generation charges.
How PSEi member stocks performed — July 14, 2020
Here’s a quick glance at how PSEi stocks fared on Tuesday, July 14, 2020.
Risks seen in ABS-CBN franchise denial
THE PROCESS denying the renewal of ABS-CBN Corp.’s broadcast franchise could prove to threaten foreign direct investment as it undermines the rule of law, an economist said.
Alleged violations best taken to proper forum, says lawmaker
THE ALLEGED violations of ABS-CBN Corp. should have been taken to a proper forum, instead of serving as basis for the cancellation of its franchise, a senator said on Monday.
SEC warns against BTXTraders.com, Seashore, Discovery Resorts
THE Securities and Exchange Commission (SEC) has issued new warnings to the public against investing in groups that it said do not have licenses from the government.
Corporate regulator sets new schedule for filing of annual reports
THE Securities and Exchange Commission (SEC) has extended until August the filing schedule of annual reports due to the closure of its office in the next two weeks.