Filipino-owned Gur Lavi ties up with China Mobile
FILIPINO-OWNED telco solutions distributor Gur Lavi Corp. (GLC) announced a partnership with China Mobile International Ltd. (CMI) on Thursday, hoping to tap into the latter’s market base in the Philippines, including cable operators.
PXP Energy trims net loss as petroleum revenues rise
PXP Energy Corp. (PXP) trimmed its net loss to P3.68 million in the second quarter from P18.81 million in the same period last year as a result of higher profit from its Galoc oil field operations and the reduction in general and administrative expenses.
Megaworld launches P2.8-B condo project in Pampanga
LISTED township developer Megaworld Corp. launched its third residential condominium project in San Fernando, Pampanga which it expects to generate P2.8 billion in sales.
7-Eleven operator allots P2B for store expansion
PHILIPPINE SEVEN CORP. (PSC) has allotted P2 billion this year in opening 300 more 7-Eleven stores or nearly double the number it opened last year.
Wilcon net profit climbs 56% to P1B
WILCON Depot, Inc. reported a 56.4% increase in net profit to P1.01 billion in the second quarter as sales increased amid eased pandemic restrictions.
8990 Holdings income down in Q2
LISTED property developer 8990 Holdings, Inc. reported a 9.9% decrease in net income to P1.72 billion in the second quarter from the P1.91 billion posted a year earlier after a decline in revenues.
How PSEi member stocks performed — July 28, 2022
Here’s a quick glance at how PSEi stocks fared on Thursday, July 28, 2022.
Meralco seeks competing bids for 500-MW supply
MANILA Electric Co. (Meralco) has sought competitive offers for the supply of 500 megawatts (MW) of renewable energy (RE) for the electricity distributor’s mid-merit requirement starting in 2026.
AboitizPower net income up 79% to P7 billion in Q2
ABOITIZ Power Corp. reported a consolidated net income of P7.1 billion for the second quarter of the year, 79% higher than the figure recorded in the same period last year.
ICTSI to take majority stake in Indonesian terminal
LISTED port operator International Container Terminal Services, Inc. (ICTSI) announced on Wednesday that it had signed a purchase deal to acquire majority ownership in a multi-purpose terminal in East Java, Indonesia.
Citicore REIT’s profit jumps to P301 million
CITICORE Energy REIT Corp. (CREIT) on Wednesday reported a net income of P300.84 million for the second quarter of the year, more than four times higher than the P65.68 million posted in the same period last year.
CTA affirms canceled tax assessment on Ferrari dealer
THE Court of Tax Appeals (CTA) affirmed the cancellation of the tax assessment on Autostrada Motore, Inc. worth P341.37 million inclusive of penalties and interest for the fiscal years 2011 to 2013.