Megawide Construction Corporation (Megawide) reported consolidated revenues of P18.6 billion in FY2023, a 26% increase over the previous year's P14.8 billion. The achievement was mostly driven by the construction business, which generated P18.1 billion in sales and accounted for 97% of the total. This was reinforced by enhanced landport operations and an early contribution from the real estate business, which totaled P348 million and P149 million, respectively.
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The Securities and Exchange Commission (SEC) has brought Maria Francesca Tan (MFT) Group of Companies, Inc. and Foundry Ventures I, Inc. before the Department of Justice for criminal prosecution over their illegal investment taking activities.
Atlas Consolidated Mining and Development Corporation Reported Earnings of P563 Million in Q120244/22/2024 Atlas Consolidated Mining and Development Corporation (Atlas Mining) reported P563 million in net income for the first quarter of 2024, an increase of 113% over the P264 million recorded for the same period in 2023. The increased revenue and milling throughput from the mining operations by its fully owned subsidiary, Carmen Copper Corporation (CCC), were the primary causes of the increased income.
The DOE has awarded a Hydropower Service Contract to Repower Energy Development Corporation (REDC), a Pure Energy Holdings Corporation subsidiary, for the development and construction of a seawater pump storage hydropower project in Real, Quezon.
For the first three months of 2024, the Bank of the Philippine Islands (BPI) announced a record quarter net income of P15.3 billion, up 25.8% from the previous year and translating into a return on equity of 15.7% and a return on assets of 2.02%. The bank attributed the strong results to higher revenues, which more than countered the effects of higher expenses for operations and loss provision. The first quarter's earnings per share were P2.90, up 18.1% from P2.46 in the previous year. This increase was attributed to both the robust income growth and the higher number of outstanding shares that resulted from the January 1, 2024, merger with Robinsons Bank.
Filinvest Land, Inc. Declares P0.05 Cash Dividends Per Common share, a 32% Dividend Payout Ratio4/21/2024 Filinvest Land Inc. (FLI), optimistic and well-positioned for expansion following its good financial performance in 2023, declared a cash dividend of P0.05 per common share, reflecting a 32% dividend payout ratio, the highest since 2014.
During BDO Unibank, Inc.'s (BDO) 2024 Annual Stockholders' Meeting, President and CEO Nestor V. Tan revealed that the bank's net income increased from P57.1 billion in 2022 to P73.4 billion in 2023 due to development in its core businesses. The Bank maintained its momentum in the first quarter of 2024, with net income up 12% to P18.5 billion from P16.5 billion in the same period last year. Return on Common Equity (ROCE) stood at 14.3% in the first quarter of 2024.
Rockwell Land Corporation Reported P3.4 Billion in Consolidated Net Income After Tax for FY20234/21/2024 Rockwell Land Corporation ended the year 2023 with a consolidated net income after tax of P3.4 billion. It is a 31% increase from previous year and has surpassed pre-pandemic level. P3.1 billion is attributable to Parent company.
The Securities and Exchange Commission (SEC) has made permanent the cease and desist order (CDO) against Maria Francesca Tan (MFT) Group of Companies, Inc. and Foundry Ventures I, Inc., along with their officers and agents.
In order to support the expansion of solar energy in the Philippines, PetroGreen Energy Corporation, a subsidiary of publicly traded PetroEnergy Resources Corporation, a member of the Yuchengco Group of Companies, and Trina Solar, a leader in smart PV and energy storage solutions globally, signed a master supply agreement (MSA).
Haus Talk, Inc. (HTI) succeeded the groundbreaking ceremonies for two new projects in Antipolo City that are adjacent to one another, marking a significant step toward addressing the region's need for affordable housing. Antipolo is the cornerstone of HTI's development success, as it has solidified its base and acquired important knowledge about homeowner wants.
China Banking Corporation Announced P5.9 Billion in Record Cash Dividends, an Increase of 16%4/20/2024 China Banking Corporation (Chinabank) announced that its Board of Directors declared a P1.20 per share regular cash dividend and an additional P1.00 per share special cash dividend, which will be paid on May 16, 2024, to all stockholders on record as of May 3, 2024. The regular cash dividend increased by 20% from P1.00 per share the previous year.
Basic Energy Corporation and its prestigious partner, RENOVA Inc., signed a Joint Development & Shareholders Agreement (JDSHA), marking a major milestone in the company's renewable energy activities. This significant agreement solidifies the two businesses' strategic partnership and marks a significant advancement in the Mabini Wind Power Project's development.
A Memorandum of Agreement was signed with Balai ni Fruitas Inc., a well-known counter-service bakery operator in the Philippines, to purchase the 40-year-old legacy brand and other assets associated with the Sugarhouse business.
One of the world's largest coconut water brands, Vita Coco, and Axelum Resources Corp., the country's top fully integrated manufacturer and exporter of premium coconut goods, inked a multi-year agreement. With this contract renewal, two industry leaders who are well-positioned to profit from the steady growth of the global coconut water market in the upcoming years have formalized their strategic relationship.
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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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