Alternergy Holdings Corporation (Alternergy), through its wholly owned subsidiary Alabat Wind Power Corporation (AWPC), and the National Grid Corporation of the Philippines (NGCP) have signed an Interconnection Agreement (ICA) for the Alabat Wind Power Project in Alabat, Quezon.
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Palawan, which is well-known for its breathtaking scenery and thriving tourism sector, has enormous growth and development potential. However, amidst its allure, the region faces a significant hurdle: the lack of reliable internet connectivity. Recognizing this challenge, Kacific Broadband Satellites, Inc. took a proactive step towards addressing this issue through a groundbreaking event held on March 20th, 2024, at Lime Resort El Nido.
From left: GCash AVP & head of international product Jules Abalos, VP & general manager of GCash International Paul Albano, G-Xchange, Inc. president and CEO Ren-Ren Reyes, PayPal International Markets director and regional head of market development Rohit Lokray and market development manager Sally Lee Leading finance app GCash strengthens its partnership with multinational online payments provider PayPal to provide the freelancer and e-commerce entrepreneurs community in the Philippines with an improved cash-in experience.
Jollibee Foods Corporation (JFC) through its fully owned subsidiary, Jollibee Worldwide Pte. Ltd. (JWPL) announced that it has inked agreements to invest US$28 million for a 10% stake in Botrista, Inc. JWPL will be the leading investor.
Citicore Energy REIT Corp. Raises PHP 5 Billion from the Sale of Shares to SM Investments Corp.3/26/2024 Citicore Renewable Energy Corporation (CREC), along with its wholly owned subsidiary Citicore Solar Tarlac 1, Inc., sold a total of 1,884,374,000 common shares, or 28.79% interest, in the real estate investment trust Citicore Energy REIT Corporation (CREIT) to Philippine conglomerate SM Investments Corporation (SMIC) for P2.6534 per share, raising approximately P5.0 billion. CREIT is the largest renewable energy REIT landlord in the country, with over 7.16 million square meters of gross leasable area.
The PetroGreen Energy Corporation (PGEC), spearheaded by Yuchengco, has effectively obtained a loan facility from Rizal Commercial Banking Corporation (RCBC) for its Dagohoy Solar Power Project (DSPP), spanning 27.5 megawatts. The project is located in Dagohoy, Bohol. The DSPP construction is expected to be finished by the fourth quarter of 2024, with the loan providing P834 million in capital.
The top carrier in the Philippines, Cebu Pacific (CEB), brought in P90.6 billion in revenue in 2023—a 60% rise over the previous year.
JG Summit Holdings, Inc. (JGS), one of the Philippines' largest and most diversified conglomerates, had its core net income triple to P19.6 billion in 2023, up from P6.2 billion in 2022. This strong result was driven by a dramatic turnaround in the company's airline, as well as increased margins in its property and food sectors and reduced losses from its petrochemical unit.
Sun Life Financial Inc. has announced the appointment of Timothy (Tim) Deacon as Executive Vice President and Chief Financial Officer, reporting to Kevin Strain, President and CEO of Sun Life, beginning April 8, 2024. Mr. Deacon will join Sun Life's global executive team.
With the opening of the largest and first truly hyperscale data center facility in the country, ePLDT, through its data center subsidiary VITRO Inc., is preparing to strengthen the Philippines' standing as an emergent data center hub in Asia Pacific.
D&L Industries, a Filipino manufacturing business that aspires to be a truly sustainable and world-class company, has obtained a LEEDv4 Gold Certification for the 6-story Central Hub of its recently operational plant in Batangas from Barone International.
Leading IT retailer in the Philippines, Upson International Corp. (UPSON), declared P2.1 billion in gross profit, P10 billion in record revenues, P464.2 million in net income, and P0.16 in earnings per share for 2023. At a historic high of P10 billion, revenues increased 5.8% year-over-year, attributed primarily to the revenue growth of newly opened outlets that have been open for less than a year. Comparable sales from open locations went up by 1%.
D.M. Wenceslao & Associates, Inc. Declares Record-High Cash Dividends, a Total of PHP 268,176,532.713/24/2024 The Board of Directors of D.M. Wenceslao & Associates, Inc. (DMW) declared cash dividends of P0.078971515 per share, or a total of P268,176,532.71, during its regular meeting on March 18, 2024. Cash dividends will be paid on April 25, 2024, to all stockholders who were on record as of April 12, 2024.
The core net income of GT Capital Holdings, Inc. (GT Capital/GTCAP) increased by 82% to a record-breaking P28.8 billion for the entire year 2023 from P15.9 billion the year before. Conglomerate net income rose from P18.4 billion in 2022 to P28.7 billion in 2023, a 57% increase.
Wilcon Depot, Inc., the Philippines’ leading home improvement and finishing construction supplies retailer, reported its full year 2023 results. Net sales of P34.604 billion, increased by 3.1% or P1.033 billion due mainly to the sales generated from the new stores. Gross profit also expanded to P13.694 billion, up 4.3% or P568 million year-on-year. Rising operating expenses, however, mostly contributed by expansion-related expenses lowered net income year-on-year by 9.5% or P365 million to P3.483 billion.
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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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