The Chamber of Automotive Manufacturers of the Philippines, Inc. (Campi) is expecting to end the year with a growth of around 20 percent, which they hope to raise even further in 2022. “By year-end, [we] expect around a 20-percent [growth],” said Campi president Rommel Gutierrez in a Viber message when asked for the group’s year-end…
Yuchengco-led construction firm EEI Corp. has returned to the local stock market for the first time in 14 years, raising P6 billion from a warmly received offering of preferred shares. EEI’s offering of series A and series B preferred shares, which ended on Dec. 15, had been oversubscribed by 4.85 times the base offer of…
The country’s largest conglomerate, SM Investments Corp. (SMIC), has filed a registration statement to raise as much as P15 billion from the offering of long-term peso-denominated bonds by February next year. These fixed-rate bonds will form the second tranche of its P30-billion debt securities shelf registration with the Securities and Exchange Commission (SEC). Based on…
Banking giant BDO Unibank Inc. is preparing to raise another P5 billion in debt from a massive P365-billion bond program to partly finance its expansion. BDO, by the Sy family’s SM Group, disclosed plans to issue peso-denominated fixed-rate Asean sustainability bonds. The lender said in a stock exchange filing the proposed offer would run from…
Razon group-led International Container Terminal Services Inc. (ICTSI) has secured a for its Toamasina International Container Terminal in Madagascar, its first port terminal concession in the African continent, through 2040. ICTSI disclosed to the Philippine Stock Exchange on Monday that its wholly-owned subsidiary Madagascar International Container Terminal Services Ltd. (MICTSL), which operates the port of…
A sharp earnings rebound awaits Philippine property firms in the next 12 to 24 months, driven by the recovery of mall rental revenues as well as the resumption of residential construction and selling activities, said First Metro Securities Brokerage Corp. First Metro Sec’s top picks in this favored sector are: “Our selection process is based…
The Philippine office property segment is seen to end this year on a strong note, with demand for additional office space from the level in 2020 when the pandemic disrupted most businesses, thanks to the resilient business process outsourcing (BPO) industry. This is according to property consulting firm Leechiu Property Consultants (LPC), which estimated full-year…
Shareholders of Philippine Airlines’ (PAL) parent firm, PAL Holdings Inc., voted on Thursday to enlarge its capital base and issue more shares to provide financial support to the flag carrier through its Chapter 11 creditor protection plea. Following the company’s stockholders’ meeting, PAL Holdings said shareholders of the company, controlled by billionaire Lucio Tan, approved…
Investment banking giant Goldman Sachs expects the Philippine economy to grow the fastest in Asean (Association of Southeast Asian Nations)-5 next year, despite some uncertainty to be wrought by the “wide open” 2022 presidential elections. In a Nov. 18 report, Goldman Sachs Economics Research projected the Philippines’ , within the government’s 7 to 9 percent…
Big business had been labelled by environmental activists as a villain in the ongoing climate change crisis – heartless, with no regard for anything other than the bottom line, or profits. But the recent Inquirer Project Webinar session showed that major companies were not only facing up to their responsibilities but were seriously taking steps…