The Securities and Exchange Commission (SEC) has imposed fines totaling more than P560 million on Abra Mining & Industrial Corporation (AR), its directors, officers, transfer agent and certain stockholders for the unauthorized and fraudulent trading of unissued and unlisted shares from 2015 to 2019.
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Fruitas Holdings, Inc. Completes the Maiden Private Placement of P200 Million Corporate Notes4/17/2024 On April 16, 2024, Fruitas Holdings, Inc., the industry leader in operating multi-format food and beverage establishments and a company listed on the Philippine Stock Exchange under the ticker symbol FRUIT, successfully concluded its first private placement of P200 million corporate notes, which was arranged by RCBC Capital Corporation.
Up to 19 million tons of carbon dioxide (CO2) emissions could be prevented by the first Coal to Clean Credit Initiative (CCCI) pilot project being considered in the Philippines, according to a recent announcement made by ACEN Corporation and The Rockefeller Foundation.
Metro Retail Stores Group, Inc. (MRSGI) reported an aggregate net income of P618.0 million for the full year 2023 compared to P917.3 million in 2022, a 32.6% decrease. By excluding one-time gains like accounting adjustments on leases and insurance claims, the company's core net income for 2022 showed a decrease of only 18.4% when compared to the P757.3 million recurring profit of the previous year.
As impairments affected the bottom line, ABS-CBN reported a P12.83 billion wider net loss in 2023 compared to a P2.64 billion net loss in 2022 in the financial report that was filed with the PSE.
Vista Land & Lifescapes, Inc., one of the country's leading integrated property developers and the largest homebuilder, reported a net income of P10.3 billion for the fiscal year ended 2023, a 39% increase from the previous year. As of the end of 2023, the company had launched 34 projects totaling around P50.7 billion.
GMA Network Reported P3,162 Million in Consolidated Net Income After Tax in 2023, Down 42%4/16/2024 In the submitted financial report to the PSE, GMA Network and its subsidiaries registered consolidated revenues of P18,637 million for the twelve months ended December 31, 2023. This was an 86% attainment of the prior year’s consolidated revenues of P21,564 million, which was heavily boosted by the presence of political advocacies and advertisements coming from the 2022 national and local elections. Carving out the aforementioned non-recurring sales, the company inched up against the prior period’s consolidated top line.
For the entire year 2023, Apex Mining's Maco Mine generated a net income of P3.5 billion, an increase of 6% above P3.3 billion in 2022. 1% more than the P3.3 billion recorded in 2022, the consolidated net income of the Apex Mining Group (which consists of Apex Mining and its subsidiaries) stood at P3.4 billion in 2023. Itogon-Suyoc Resources, Inc. (ISRI), Asia Alliance Mining Resources Corporation (AAMRC), and Monte Oro Resources, Inc. (MOREI) are the subsidiaries of Apex Mining.
ACEN Corporation Secures US$150M Green Term Loan Facility from Sumitomo Mitsui Banking Corporation4/16/2024 Sumitomo Mitsui Banking Corporation Singapore Branch (SMBC) and ACEN Corporation have inked a US$150 million green term credit facility through ACEN Renewables International (ACRI), a subsidiary of ACEN Corporation. This calculated financial action is consistent with ACEN's continuous endeavors to provide funding for renewable energy projects around the area.
DoubleDragon Corporation (DoubleDragon) announced that its consolidated net income for the year ended December 31, 2023, increased by 23.25% year-on-year to P15.93 billion. Consolidated revenues for the same period were recorded at P24.74 billion.
Century Properties Group, Inc. Hits a 10-Year High, Net income Soars 32% to P1.86 Billion in 20234/16/2024 The consolidated net income after tax (NIAT) of Century Properties Group Inc. (CPG) was P1.86 billion at the end of 2023, a 32% increase over P1.40 billion in 2022. This was a great performance for CPG. In addition to surpassing CPG's pre-pandemic performance, this NIAT level is a 10-year high.
Alliance Global Group, Inc. Reported a Record-Breaking P30.3 Billion Net Income in 2023, Up 20%4/16/2024 The holding company of billionaire Dr. Andrew L. Tan, Alliance Global Group, Inc. (AGI), broke all records with a P30.3 billion net income in 2023, up 20% from the previous year despite increased inflation driving up overall costs and expenses. With a 21% growth from the previous year, attributable net profit reached a record high of P19.6 billion. Consolidated revenues, which had previously been P183.6 billion the year before, had grown by a strong 15% to an unprecedented P211.2 billion.
Fruitas Holdings, Inc. (FRUIT), the leading operator of multi-format food and beverage establishments, reported all-time high annual revenues of P2,469 million in 2023, 37% more than P1,799 million in 2022.
A financing agreement has been reached between Citicore Renewable Energy Corporation (CREC) and Rizal Commercial Banking Corporation (RCBC) to finance the construction of several solar power plant projects with a combined installed generating capacity of at least 600 MWdc and up to roughly 1 GW.
PT&T's FY2023 Financial Results Indicate a Notable Turnaround with a Staggering 155% Net Income Gain4/15/2024 For the fiscal year that ends on December 31, 2023, Philippine Telegraph and Telephone Corporation (PT&T) announced a major turnaround aimed at bolstering its financial foundation. This improvement is a result of the company's conversion of debt to equity, which is an essential part of its continuous execution of important rehabilitation orders.
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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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