The Securities and Exchange Commission (SEC) has cancelled the lending license of Copperstone Lending, Inc., which operates online lending platforms (OLPs) Quickla, Pococash, Blue Peso, Peso Forrest, Moca Moca, Pesobuffet, and Load Cash, for its unfair debt collection practices and its failure to disclose the true and correct terms of loan contracts with borrowers.
0 Comments
The SM group continues to expand its presence nationwide to serve more Filipinos and communities.
A significant increase in the dividend payment to shareholders was declared by SM Investments Corporation (SM Investments). The Board of Directors approved a 20% increase in dividend payout from the previous year, in response to a year of solid performance and strategic growth initiatives.
Concepcion Industrial Corporation (CIC), the country's leading provider of consumer lifestyle and industrial solutions, reported consolidated earnings of P186 million in the first quarter of 2024, more than doubling those from the previous year. The significant gain was driven by increased volume, which was mostly due to stronger retail presence and distribution networks, a broader product portfolio, and the influence of the current hot weather conditions.
Pryce Corporation's (PPC) first-quarter 2024 net income increased by 39.50%, from P511.54 million in 1Q-2023 to P713.68 million in 1Q-2024. This growth is mostly driven by higher Liquefied Petroleum Gas (LPG) margins, particularly in the Luzon market.
PXP Energy has announced its financial and operating expenses for the first quarter of 2024. Core Net Loss dropped to P2.6 million (1Q 2023: P6.6 million) due to increased crude oil sales from Galoc operations, lower recurrent expenses, and greater interest income. The consolidated net loss attributable to equity holders of the parent company also decreased to P2.6 million (2023: P6.1 million).
The Securities and Exchange Commission (SEC) is working with Google and Apple for the removal of applications operated by cryptocurrency giant Binance in app marketplaces accessible in the Philippines.
The Board of Directors of SM Prime Holdings, Inc. (SM Prime) approves the declaration of cash dividends of P0.346 per share, or P10.0 billion, to all stockholders of record as of May 8, 2024, during the Annual Stockholders' Meeting of the company, held in Conrad Manila, Pasay City. The said dividends are payable on or before May 22, 2024. The figure declared exceeds the P6.8 billion that the business reported in 2023.
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.
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.
|
PLACE YOUR ADS HERE Join and Subscribe to my Newsletter. It's FREE! EMAIL SUBSCRIPTION
ABOUT THE
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
All
|