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D&L Industries, Inc. Reported PHP 2.3 Billion in FY23 Earnings

2/29/2024

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D&L Industries, Inc. Reported PHP 2.3 billion in FY23 Earnings
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. 

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Security Bank Corporation Reported a PHP 9.1 Billion Net Income in 2023

2/29/2024

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Security Bank Corporation Reported a PHP 9.1 Billion Net Income in 2023
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.

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EEI Corporation Completed the Installation of I-PEX Philippines' 235.44kWp Solar Rooftop System

2/29/2024

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EEI Corporation Completed the Installation of I-PEX Philippines' 235.44kWp Solar Rooftop System
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.

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SEC Issues Cease and Desist Order Against Bogus Ayala Group

2/28/2024

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SEC Issues Cease and Desist Order Against Bogus Ayala Group
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.

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Megaworld Corporation Reported a PHP 19.4 Billion Net Income in 2023, Up 26%

2/28/2024

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Megaworld Corporation Reported a PHP 19.4 Billion Net Income in 2023, Up 26%
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.

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ACEN Corporation Secures AUD 150 Million Green Term Loan from ANZ and Westpac

2/28/2024

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ACEN Corporation Secures AUD 150 Million Green Term Loan from ANZ and Westpac
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.

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Filinvest Land, Inc. Reported a PHP 3.77 Billion Net Income in 2023, Up 30%

2/28/2024

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Filinvest Land, Inc. Reported a PHP 3.77 Billion Net Income in 2023, Up 30%
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.

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SM Investments Corporation Reported a PHP 77 Billion Net Income in 2023, Up 25%

2/28/2024

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SM Investments Corporation Reported a PHP 77 Billion Net Income in 2023, Up 25%
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.

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First Gen Corporation Acquires Ownership of Casecnan Hydroelectric Power Plant

2/27/2024

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First Gen Corporation Acquires Ownership of Casecnan Hydroelectric Power Plant
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).

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NOW Telecom, Rakuten Symphony Signed a Memorandum of Understanding (MoU) for the 5G Open RAN Pilot in the Philippines

2/27/2024

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NOW Telecom, Rakuten Symphony Signed a Memorandum of Understanding (MoU) for the 5G Open RAN Pilot in the Philippines
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.

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