In the first quarter of 2024, Aboitiz Equity Ventures Inc. (AEV) reported consolidated net income of P4.9 billion, a 22% increase over the P4.0 billion reported in the same period the previous year. With a non-recurring net loss of P54 million subtracted, the company's core net income for the first quarter of 2024 was P5.0 billion, an increase of 8% over the P4.6 billion earned during the same time in 2023.
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The core net income of Aboitiz Power Corporation (AboitizPower) for the first quarter of 2024 was P7.8 billion, which is a 3% increase over the P7.6 billion reported in 2023. Increased generation portfolio margins were the main cause of the increase. The company recorded P7.9 billion in net income for the first quarter of 2024, which is P4.5 billion for the same time in 2023. This is a 4% increase.
One of the largest general contractors in Japan, Taisei Corporation (Taisei), and Yuchengco-led PetroGreen Energy Corporation (PGEC) inked investment framework and shareholder agreements on April 23, 2024, with the goal of Taisei acquiring a 25% equity stake in PGEC's subsidiary, Rizal Green Energy Corporation (RGEC). Taisei, one of Japan's top 5 general contractors, was established in 1873 and has since built ports, harbors, industrial complexes, power plants, bridges, and tunnels, as well as commercial structures across more than 65 nations. The Taisei Group reported total net sales of US$12.3 billion for the fiscal year 2022.
According to PSA, the digital economy of the Philippines in 2023 amounted to P2.05 trillion, contributing 8.4% to the country's Gross Domestic Product. This resulted in 7.7% growth from the P1.90 trillion Gross Value Added of the digital economy in 2022.
The Securities and Exchange Commission (SEC) is opening more payment channels through a partnership with online payment platform Payment Innovation, Inc., (PayCools PH).
Tech giant Google announced that the shopping links and shopping anchor labs are now a permanent part of Auto Ads under the new name "Ad Intents."
GCash, the Philippines’ top finance app and largest cashless ecosystem, recorded nearly half a million user base for GStocks PH as it ramps up the reach of its stock investment platform.
Filinvest Land Inc. (FLI) and global co-working space provider KMC Community Inc. (KMC) have announced the launch of their joint venture, Our Space Solutions Inc. (OSSI). The partnership represents a significant advancement in meeting the Philippines' rising need for co-working spaces. The first OSSI locations are situated in Axis Tower One, a prime office building within Filinvest City's Northgate Cyberzone.
Consunji Group and CEMEX Asia B.V. Signed an Agreement to Acquire Cemex Asian South East Corporation4/26/2024 DMCI Holdings, Inc. (DMC), Dacon Corporation, and Semirara Mining and Power Corporation (SCC) have inked a share purchase agreement with CEMEX Asia B.V. to buy the whole 42,140,266 common shares of Cemex Asian South East Corporation (CASEC).
Metro Retail Stores Group, Inc. (MRSGI) recently made progress in its Visayas development plans by breaking ground on four new supermarkets in Cebu and Leyte, paving the way for more accessibility and convenience in these regions.
Robinsons Retail Holdings, Inc.'s consolidated net sales increased by 2.9% to P45.9 billion in the first quarter of 2024. This was driven by increased sales from new stores and maintained demand in the food retail and drugstore segments, which accounted for more than 80% of the total company. Due to an extremely high base over the last two years, blended same-store sales growth (SSSG) has continued to normalize at 0.9%. Furthermore, the timing of the Holy Week holidays impacted revenue for the quarter, since several of the company's non-essential locations or discretionary formats were closed for two days in March 2024.
Philex Mining Corporation (Philex), one of Southeast Asia's oldest and largest gold and copper miners, achieved P105 million in core net income and P295 million in EBITDA for the first quarter of 2024, compared to P388 million in core net income and P635 million in EBITDA in Q12023.
At Filinvest Development Corporation's (FDC) annual stockholders' meeting, the conglomerate expressed confidence in the growth trajectory of its core businesses, reporting a robust 58% increase in both Earnings Per Share (EPS) and Dividends Per Share (DPS), in line with its net income increase in 2023. This demonstrates FDC's commitment to providing improved value to shareholders by efficiently turning profitability into higher earnings per share while driving quicker growth over the next five years.
Megaworld, a pioneering township developer, is creating a modern museum within its 30-hectare The Mactan Newtown in Lapu-Lapu City, Cebu, as an ode to the island's cultural and historical significance.
Filinvest REIT Corp. (FILRT), as part of its commitment to sustainability, announces the successful conversion of five of its office building properties to renewable energy sources through the government's Green Energy Option Program (GEOP). The decision demonstrates FILRT's dedication to environmental responsibility and represents a significant step forward in the company's journey toward a greener future.
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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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