Installed over two hectares of the mall's structure, SM Supermalls recently launched the company's largest rooftop solar photovoltaic (PV) system for self-use at SM City in Santa Rosa, Laguna. As it moves closer to its Net-Zero Ambition by 2040, SM Prime underlines its commitment to creating a sustainable future with this latest milestone of growing the company's efforts towards energy efficiency.
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Partners that use Google advertising products will have to have Swiss users' consent starting on July 31, 2024, for the use of cookies or other local storage when permitted by law, as well as for the collection, distribution, and use of personal data for ad personalization.
Microsoft Plans to Provide 2.5 Million People in the ASEAN Region with AI-Skilling Opportunities5/3/2024 Microsoft announced that it will provide 2.5 million members of the Association of Southeast Asian Nations (ASEAN) with artificial intelligence (AI) skills by 2025. Governments, corporate and nonprofit institutions, and communities in Indonesia, Malaysia, the Philippines, Thailand, and Vietnam are partnering with the skill-building projects.
Robinsons Land Corporation (RLC) posted a P4.07 billion profit in the first quarter, driven by solid performances across all business units. Net income attributable to parent soared by 53% year-on-year for the period ended March 31, 2024. Excluding the one-time gain on the reclassification of its GoTyme investment, net income to the parent reached P3.34 billion, still up by 21% year-on-year. Consolidated revenues also saw 19% growth to P11.03 billion compared to the same period last year.
Universal Robina Corporation (URC) reported sales of P42.6 billion for the three months ended March 31, 2024, a 7% increase over the same time last year, with greater sales volumes across all divisions driving significant growth.
Philippine National Bank (PNB) reported a net income of P5.3 billion in the first three months of 2024, up 10% from the same period the previous year.
Flag carrier Philippine Airlines (PAL) posted a positive performance in the first quarter of 2024 with a total comprehensive income of US$81 million. While 25% less than PAL’s first quarter net income in 2023, this is an expected outcome as global travel patterns normalize following the post-pandemic surge of 2023.
DMCI Holdings, Inc. Eyes Quick Cemex Holdings Philippines Turnaround; Unveils Recovery Roadmap4/30/2024 The diverse engineering conglomerate DMCI Holdings, Inc., which made its first acquisition in ten years and its largest investment to date, presented its strategic strategy for revitalizing Cemex Holdings Philippines (CHP).
The public offering of Bank of Commerce (BankCom), an affiliate of San Miguel Corporation, has begun for its peso bond issuance. The bonds have a minimum size of P5 billion and an oversubscription option (Series B Bonds).
A leading player in the mid-premium supermarket business in the Philippines, AllDay Supermarket (ALLDY), recorded P10.914 billion in revenue at the end of FY2023, 4.4% more than P9.760 billion in FY2022. In addition, net income increased by 22.4% to P369 million from P302 million in FY 2021.
One-stop full-line home center in the Philippines, AllHome, reported P12.06 billion in net revenue for the fiscal year 2023. The home retail chain also showed improvements in gross profit margins, with 38% in 2023 compared to 36.8% in 2022—a 120 basis point increase. The net profit for AllHome's FY 2023 is P797 million.
Metropolitan Bank & Trust Company (Metrobank) Reported P12 Billion in Net Income in Q124, Up 14%4/30/2024 In the first quarter of 2024, Metropolitan Bank & Trust Co. (Metrobank) recorded net earnings of P12.0 billion, a 14.5% increase over the previous year. As a result, the return on equity (ROE) increased to 13.7% from 13.1% in the previous year. The bank's steadily increasing lending portfolio, improved operational effectiveness, steady asset quality, and ongoing implementation of capital optimization policies were the main drivers of its rising profitability.
Topline revenues remain strong, growing by 14% year-on-year. This is attributable to the growing proportion of consumer loans, higher net interest margins, and transaction fees. Net interest income grew by 17% to P13 billion driven by a 59bps improvement in net interest margins now standing at 5.7%. Non-interest income excluding trading gains, went up by 13% to P4.7 billion. The Bank’s consumer loans now account for 59% of total loan portfolio, nearly 3x higher than industry average.
Philippine Rating Services Corporation (PhilRatings) maintained its Issue Credit Rating of PRS Aaa, with a Stable Outlook, for D&L Industries, Inc.’s (D&L) total outstanding Fixed Rate Bonds amounting to P5.0 billion.
Manila Electric Company (Meralco) Ended Q12024 with P10.1 Billion in Consolidated Core Net Income4/29/2024 The Consolidated Core Net Income (CCNI) of Manila Electric Company (Meralco) increased by 11% to P10.1 billion in the first three months of 2024 from P9.0 billion in the same quarter of the previous year. This increase was attributed to higher sales volumes in the distribution business as well as ongoing contributions from power generation, retail electricity supply (RES), and non-power-related businesses.
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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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