Converge ICT Solutions Inc., a leading provider of fiber broadband and technology, and NAVER Cloud Corp., of South Korea, have signed a strategic Memorandum of Understanding (MOU) to collaboratively explore options aimed at serving the Philippines' growing cloud market.
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The largest office landlord in the country, Megaworld Corporation, through its REIT business, MREIT, Inc., announced that it will purchase six office buildings totaling P13.15 billion. If approved by the Securities and Exchange Commission (SEC), the transaction will add 157,000 square feet, or 48%, to the MREIT's portfolio, bringing it to 482,000 square feet.
International Container Terminal Services, Inc. Plans to Invest in the New Southern Luzon Gateway5/12/2024 International Container Terminal Services Inc. (ICTSI) is constructing a new international container terminal in Bauan, Batangas, Philippines. The planned port will be the largest privately funded marine terminal investment in the country's history, and it will eventually be the second-largest container facility after the Manila International Container Port at the Port of Manila.
Axelum Resources Corp. (AXLM), the country's leading fully integrated manufacturer and exporter of premium coconut goods, announced its financial and operating results for the first quarter of 2024.
Megaworld is expanding its lease portfolio until 2030, with a goal of reaching 3,000,000 square meters of gross leasable area (GLA) for both Megaworld Premier Offices and Megaworld Lifestyle Malls. This is 52% larger than the company's overall leasing portfolio at the end of 2023.
Manulife Financial Corporation's Declares Common Share Dividend, Amends its Normal Course Issuer Bid5/11/2024 The Board of Directors of Manulife has declared a quarterly dividend to common shareholders of CA$0.40 per share on Manulife's common shares. This dividend is payable to shareholders of record on May 22, 2024, at the close of business, and will be paid on and after June 19, 2024.
Dominion Holdings, Inc. (formerly BDO Leasing and Finance, Inc.) registered a 30% year-on-year growth in net income to P75.9 million in the first quarter of 2024, compared to the P58.3 million earnings in the comparable period in 2023. Gross Income increased by 28% due to the shift in its investment portfolio towards higher-yielding placements and debt securities.
In the first three months of the year, Asia United Bank (AUB) and its subsidiaries continued to generate record-breaking profitability, with a return on equity (ROE) of 20%, the highest in the bank's 27-year history. Additionally, it reported the greatest return on assets (ROA) since AUB's 2013 IPO, at 2.8%.
Security Bank Corporation Issues US$400 Million 5-Year Reg S Senior Unsecured Notes Offering5/11/2024 As a drawdown from its US$1 billion Medium Term Note Program, approved by the board, Security Bank Corporation has issued US$400 million in 5.50% Senior Unsecured Fixed Rate Notes (Notes), due May 14, 2029. The transaction was announced on the back of a series of global investor calls that were held on May 6, 2024.
Sun Life Financial Inc.'s Board of Directors declared a dividend of CA$0.81 per share on the company's common shares, payable on June 28, 2024, to shareholders of record at the close of business on May 29, 2024. This is a 3 cent increase over the amount paid in the preceding quarter.
By 2024, DoubleDragon Corporation's total equity is expected to surpass P100 billion. The company is in a position to become one of the few with a 12-digit total equity level in the Philippines.
Bank of Commerce Successfully Raises P6.57 Billion from its Second Tranche Peso Bond Offering5/10/2024 With the successful completion of its previously announced public offering of Peso bonds (Series B Bonds), San Miguel Corporation affiliate Bank of Commerce (BankCom) raised P6.57 billion by the end of the offer period on May 9, 2024.
The Figaro Coffee Group (FCG), a leader in the Philippine food and beverage sector, reported revenues of P1.3 billion in the first quarter of 2024, up 27% from the same quarter last year. Net income after tax for the quarter was registered at P105 million, up 5% from the same period last year.
Integrated Micro-Electronics, Inc. (IMI), reported group revenues of US$290 million for Q12024, which is 16% less than the previous year. This decline can be partially attributed to the company's decision to divest STI, which was still generating revenue at the time. The decrease in revenue has been lessened by cost-cutting measures, allowing IMI to keep its core operating margin at 2.4%, where it was in 2023. The group's net loss during the first quarter of 2024 was US$3.7 million.
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BLOGGER Hi, I'm Ralph Gregore Masalihit! An RFP Graduate (Registered Financial Planner Institute - Philippines). A Personal Finance Advocate. An I.T. by Profession. An Investor. Business Minded. An Introvert. A Photography Enthusiast. A Travel and Personal Finance Blogger (Lakbay Diwa and Kuripot Pinoy). Currently, I'm working my way toward time and financial freedom. PLACE YOUR ADS HERE FOLLOW ME ON FACEBOOK & X Categories
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