Premium Leisure Corp. (PLC) grew its consolidated revenues to PHP 2,941 million for the fiscal year ending 2023, up 41% from PHP 2,080 million in 2022. PLC's high topline resulted in consolidated net income of PHP 2,324 million in 2023, up 85% from PHP 1,256 million in 2022.
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International Container Terminal Services, Inc. (ICTSI) reported audited consolidated financial results for 2023 posting revenue from port operations of US$2.39 billion, an increase of six percent from the US$2.24 billion reported last year; Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of US$1.51 billion, seven percent higher than the US$1.41 billion generated in 2022; and net income attributable to equity holders of US$511.53 million, 17 percent less than the US$618.46 million earned last year primarily due to non-recurring and non-cash impairment of goodwill attributed to the acquisition of Pakistan International Container Terminal (PICT) in Karachi, Pakistan and other noncurrent assets; and increases in depreciation and amortization, interests on loans, lease liabilities and concession rights payable, and equity share in net loss of joint ventures.
Metropolitan Bank & Trust Co. (Metrobank) successfully completed its issuance of a dual tranche of 5- and 10-year US dollar-denominated notes, despite considerable demand.
MREIT, Inc., the REIT subsidiary of Megaworld Corporation, the country's largest office landlord, reported a distributable income of P2.8 billion in 2023, up 13% from P2.5 billion in 2022. Revenues increased by 14% year on year to P4.2 billion, driven by the full-year contribution of the additional four Grade-A office towers beginning in January 2023. Consistent rental increases among current tenants also aided revenue growth.
In FY23, D&L Industries reported recurring income of P2.3 billion, with earnings per share of P0.32. This is down 31% year on year, due primarily to increased interest and depreciation charges related to the Batangas facility, as well as the lingering effects of high inflation last year.
Security Bank Corporation reported a net income of PHP 9.1 billion in 2023. Total revenues increased 8% year over year to PHP 43.0 billion. Net interest income climbed 19%, reaching PHP 34.7 billion. The net interest margin for the full year was 4.49%, up from 4.23% in 2022. Total non-interest income amounted to PHP 8.2 billion. Service charges, fees, and commissions increased 15% to PHP6.1 billion, driven by increases in credit card, remittance (including Instapay costs), and bancassurance fees.
EEI Corporation Completed the Installation of I-PEX Philippines' 235.44kWp Solar Rooftop System2/28/2024 EEI Corporation's power arm, EEI Power Corporation (EEIPC), has completed the installation and commercial operation of a 235.44kWp solar PV rooftop system at I-PEX Philippines Inc.'s newly constructed building in Biñan, Laguna.
The Securities and Exchange Commission (SEC) has issued a cease and desist order against entities using the name of Ayala Corporation to illegally solicit investments from the public.
The country's top township developer, Megaworld Corporation, hit a significant financial milestone in 2023 when its net income for the entire year increased by 26% to P19.4 billion. Conversely, its consolidated revenues increased by 17% to P69.7 billion. Additionally, net income attributable to the parent company's stockholders increased by 29% to P17.3 billion from P13.5 billion in the previous year. The remarkable performance is underpinned by the company’s double-digit growth across all core businesses.
ACEN Corporation, through its subsidiary, ACEN Australia, stated that it has secured a total of AUD 150 million in green term loans from Australia and New Zealand Banking Group Limited (ANZ) and Westpac Banking Corporation. Each bank provides a facility limit of AUD 75 million for a four-year term.
Filinvest Land, Inc., one of the Philippines' top real estate developers, declared a net income attributable to equity holders of the parent totaling PHP 3.77 billion in its audited financial statements, a record 30% increase over the previous year.
SM Investments Corporation (SMIC) reported that its net income increased by 25% to PHP 77.0 billion in 2023, up from PHP 61.7 billion in 2022. Consolidated revenues climbed by 11% to PHP 616.3 billion from PHP553.0 billion the previous year.
Fresh River Lakes Corporation (FRLC), a subsidiary of First Gen Corporation, has taken over ownership and management of the Casecnan Hydroelectric Power Plant from the government through the Power Sector Assets and Liabilities Management Corporation (PSALM) and the National Irrigation Administration (NIA).
NOW Telecom Company, Inc., and Rakuten Symphony have signed a Memorandum of Understanding (MOU) to create a collaborative framework for deploying a 5G Open RAN Pilot Deployment in the Philippines. The MoU was signed on the first day of the Mobile World Congress (MWC), which took place at Fira Gran Via in Barcelona, Spain, from February 26 to February 29. The GSM Association hosts the MWC, the world's largest and most prominent connectivity event, which attracts over 100,000 visitors from 190 countries.
The Board of Directors of Filinvest REIT Corp. (FILRT), in a meeting held on February 26, 2024, approved the dividend declaration to all stockholders amounting to P0.067 per outstanding common share. The cash dividends will be payable on March 26, 2024 to stockholders on record as of March 11, 2024. This first quarterly cash dividend declaration for the year translates to an annualized yield of 8.3 percent based on the previous trading day’s closing price of P3.23 per share.
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