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Converge ICT applies for P35.92-billion IPO

FIBER INTERNET provider Converge ICT Solutions, Inc. has submitted an application with the Securities and Exchange Commission (SEC) on Friday to do a P35.92-billion...

Robust rental business lifts Anchor Land profits by 61%

Anchor Land Holdings, Inc.’s earnings surged 61% to P205.72 million in the first quarter due to double-digit growth in its rental business. In a regulatory...

Ionics greenlights plan to build $13.8-million Laguna facility

Listed electronics company Ionics, Inc. is building a new $13.8-million (about P685.35 million) facility in Laguna province in partnership with a Calamba-based manufacturer. In a...

Stocks rise further on better-than-expected US jobs report

The main index ended Friday’s trading session with gains as last-minute bargain hunting lifted the market on improved jobs data in the United States. The...

Cosco sets P3.6B capex, posts 79% income fall

RETAIL holding firm Cosco Capital, Inc. (Cosco) is allocating P3.6 billion for capital expenditures (capex) this year as it reported 79% lower earnings in the first quarter after accounting for last year’s non-recurring gain.

Italpinas earnings grow 69% on sustained sales from new projects in...

Profits of green property developer Italpinas Development Corp. (IDC) surged 69% in the first quarter due to a double-digit growth in revenues and higher interest income from sales.

SEC proposed rules to simplify onboarding of low-risk accounts

THE Securities and Exchange Commission (SEC) is seeking to simplify the onboarding of accounts to financial intermediaries if they have a deposit not more than P50,000.

PSE index climbs on positive data, vaccine hopes

LOCAL SHARES rose on Thursday on the back of positive investor sentiment, particularly from foreigners, due to improved manufacturing figures and positive trials for a coronavirus disease 2019 (COVID-19) vaccine.

7-Eleven offers P711-M loan to franchisees

THE listed licensor of 7-Eleven convenience stores, Philippine Seven Corp. (PSC), has allocated P711 million as loan to its franchisees to prevent the closure of stores due to mounting losses from the coronavirus disease 2019 (COVID-19) pandemic.

PSE net earnings down 71% as shareholders turn to cash

THE Philippine Stock Exchange, Inc. (PSE) booked a 71% drop in its first quarter bottomline to P50.62 million as investors opted out of the market due to the coronavirus disease 2019 (COVID-19) pandemic.

Sia’s listed companies post mixed results in first quarter

TWO listed companies led by businessman Edgar “Injap” J. Sia II posted mixed results in the first quarter, but both were insulated from the negative impact of the coronavirus disease 2019 (COVID-19) pandemic.

Profits of Global-Estate Resorts decline by 48%

TOWNSHIP developer Global-Estate Resorts, Inc. (GERI) reported a 48% decline in earnings for the first quarter due to the eruption of Taal Volcano and the coronavirus outbreak.

SEC adjusts submission schedule of annual reports

THE Securities and Exchange Commission (SEC) has adjusted the schedule for submission of annual reports following the three-day closure of its main office last week.

Stocks close flat on foreigners’ window dressing

THE MAIN INDEX closed flat at the start of the third quarter amid a 142% jump in value turnover and month-end window dressing by foreign investors.

SEC flags investment schemes posing as online sellers, cryptocurrency traders

THE Securities and Exchange Commission (SEC) warned the public against unlicensed investment companies pretending to be online sellers or cryptocurrency traders.

Lucio Tan firm sets P7-billion capex, takes ‘guarded’ outlook

LUCIO C. TAN’s LT Group, Inc. is maintaining a P7-billion budget for capital expenditures (capex) this year while keeping a “guarded outlook” due to challenges posed by the coronavirus disease 2019 (COVID-19) pandemic.

JG Summit plans to offer dollar-denominated notes

JG SUMMIT Holdings, Inc. is looking to issue dollar-denominated bonds through an offshore subsidiary and has tapped several banks to arrange the offering.

AGI earnings down 32% due to Taal eruption, pandemic

ALLIANCE Global Group, Inc. (AGI), the listed holding firm of tycoon Andrew L. Tan, posted a 32% drop in earnings for the first quarter due to business disruptions by the coronavirus disease 2019 (COVID-19) pandemic.

San Miguel still pursuing P734-B Bulacan airport

SAN MIGUEL Corp. (SMC) is committing to pursue its P734-billion international airport project in Bulacan despite the challenges brought by the coronavirus disease 2019 (COVID-19) pandemic to its finances.

Fruitas posts 41% higher earnings on lower expenses

EARNINGS of Fruitas Holdings, Inc. grew 41% in the first quarter on the back of cost-saving measures despite a double-digit decline in revenues.

Century Pacific boosts income target as canned food demand rises

CANNED food manufacturer Century Pacific Food, Inc. (CNPF) is expecting to record a high-teens growth in its bottomline this year due to the increased demand for its products in light of the coronavirus pandemic.

SEC backs ‘social bonds’ to help fund recovery efforts

THE Securities and Exchange Commission (SEC) said it is encouraging bond issuers to tap the social bond market to help support economic recovery efforts.

Megaworld trims capital spending to P36 billion, reports 9% drop in...

MEGAWORLD Corp. is cutting its capital expenditures (capex) this year to P36 billion as it reported a 9% profit decline due to the coronavirus disease 2019 (COVID-19) pandemic.

Shang Properties posts P3-billion profit

SHANG Properties, Inc. reported flat earnings in 2019 as weaker condominium sales weighed down the property developer’s performance despite double-digit improvements in its leasing and hotel businesses.

Eton Properties sees business resilience despite pandemic

ETON Properties Philippines, Inc., the real estate firm of tycoon Lucio C. Tan, is expecting to maintain a “strong performance” this year despite the effects of the coronavirus disease 2019 (COVID-19) pandemic to the economy and the property sector.

Stocks drop on concerns over rising virus cases

PHILIPPINE SHARES opened the trading week lower as investors grew more cautious over the increasing number of coronavirus disease 2019 (COVID-19) cases across the world.

SEC warns against two fraudulent investment operators

THE SECURITIES and Exchange Commission (SEC) has issued warnings to the public against investing in groups named E-Work Online Digital Marketing Services (Ework) and Quick Options.

Arthaland sets initial turnover of Cebu Exchange in fourth quarter

BOUTIQUE developer Arthaland Corp. is set to turn over the first 15 levels of its Cebu Exchange project to buyers by the fourth quarter of the year.

Shares to fall on continued rise in COVID-19 cases

LOCAL SHARES are expected to maintain a downward bias this week as weak investor sentiment over rising cases of coronavirus disease 2019 (COVID-19) patients prevail.

SEC wants more independent directors on exchanges board

THE Securities and Exchange Commission (SEC) is proposing that independent directors comprise the majority of the board of exchanges and other organized markets, following international best practices.

Cebu Landmasters’ reservations rise on sustained home demand

CEBU Landmasters, Inc. (CLI) posted 20% higher reservation sales in the first half as demand for its housing projects were sustained despite the coronavirus disease 2019 (COVID-19) pandemic.

SMIC faces pandemic with ‘hybrid’ approach

SM Investments Corp. (SMIC) is relying on a “hybrid way” of shaping its businesses to adjust to changing lifestyles as a response to the coronavirus disease 2019 (COVID-19) pandemic.

Luzon lockdown pulls down Vista Land earnings

EARNINGS of Vista Land & Landscapes, Inc. (VLL) dropped 8% in the first quarter due to a decline in project completions when the government imposed lockdown measures in Luzon starting in March.

Rising coronavirus cases cause PSEi to decline

PHILIPPINE SHARES continued to slump on Wednesday on worries over rising coronavirus disease 2019 (COVID-19) cases.

Aboitiz Group to cut jobs

THE Aboitiz Group is laying off employees as a way to cope with the financial impact of the coronavirus disease 2019 (COVID-19) pandemic.

Market seen bracing for earnings data

BPI SECURITIES Corp. is seeing the market trading sideways in the near-term until companies report their second-quarter earnings next month in what it anticipates to be the bottom of contraction even as the coronavirus pandemic continues.

I-Remit swings to profit as revenues improve

LISTED I-Remit, Inc. swung to a net profit in the first quarter as costs and expenses declined while revenues improved.

Shares decline on rise in new coronavirus cases

LOCAL SHARES ended lower on Tuesday as fear over rising cases of coronavirus disease 2019 (COVID-19) patients continued to affect investor sentiment.

Uy firm plans over P1-B share sale

LISTED PH Resorts Group Holdings, Inc. of businessman Dennis A. Uy is planning to raise up to P1.13 billion from a follow-on offering of up to 450 million common shares.

Gotianun’s Filinvest studies bond, equity offering

GOTIANUN-LED Filinvest Development Corp. (FDC) is planning to raise capital this year through both debt and equity measures in the local and offshore markets.

Oyo’s PHL occupancy rate at 40% despite pandemic

OYO HOTELS and Homes reported keeping a relatively good performance in the Philippines and Southeast Asia despite the coronavirus disease 2019 (COVID-19) pandemic.

Metro Pacific coronavirus facility records increasing patient count

THE coronavirus disease 2019 (COVID-19) referral hospital of the Metro Pacific Group has been recording increasing patients over the past weeks with the resurgence of cases in the Philippines.

PHL stocks lifted by last-minute bargain hunting

By Denise A. Valdez, Reporter THE MAIN INDEX ended Monday’s session in green territory as bargain hunters pushed the market higher at the last minute...

Asians lead post-pandemic consumer trends — Kantar

ASIAN consumers are expected to lead the change in consumer behavior in the post-pandemic world, and businesses are advised to adapt to at least five key shifts as they happen, global data analytics firm Kantar said.

SEC warns public against Daily Passive investment scheme

THE Securities and Exchange Commission (SEC) has raised the flag against Daily Passive Btc Ltd, which it said is operating an unlicensed investment scheme.