Philippines: PXP increases control interest in Forum Energy


PXP Energy Corp, an upstream oil and gas company in the Philippines, has increased its interest in UK-based Forum Energy Ltd which has the license to oil and gas exploration in the disputed waters between China and the Philippines. PXP disclosed on Thursday (March 23) that it has increased its… Read more »

Philippines: Atok buys stake in Forum Energy for $2m

Forum Energy holds the license to Service Contract 72, ― the disputed waters between China and the Philippines ― estimated to contain prospective resources of natural gas and oil.

Philippines: Metrobank sets $2b debt listing plan

Metropolitan Bank & Trust Company has set a $2 billion debt programme on the Philippine Stock Exchange to achieve further market and funding flexibilities. Metrobank disclosed its board of directors approved on Wednesday (March 22) the establishment by the bank of a Medium Term Note Programme amounting to $2 billion… Read more »

Chemical trading firm SBS Philippines diversifies into property, investments

“This move is intended to provide balance to counteract some of the fluctuations in the chemical trading business and at the same time grow and diversify the company’s income streams,” said SBS Philippines president and CEO Gerry Tan.

PH Digest: San Miguel’s $299m bond offer; Primex allocates $1.9m buy-back shares

PH Digest: San Miguel’s $299m bond offer okayed; Primex allocates $1.9m buy-back shares

Philippines: I-Pay, MyEG form e-government services joint venture

It was a 60/40 joint venture between I-Pay and MyEG, respectively, meant to focus on enabling government and large enterprises in the Philippines to offer services online, supported by a payment gateway, and other value-added services.

Wilcon prices IPO at low end of range in Philippines’ first 2017 listing

Wilcon Depot Inc, a Philippine construction materials retailer, is set to raise 7 billion pesos ($139.50 million) in the Southeast Asian nation’s first listing this year, pricing its shares at the low end of its guided range. Wilcon is aiming to ride on Philippine President Rodrigo Duterte’s pledge to raise… Read more »

Philippines: Ayala acquires renewable energy developer BCE

Ayala Corp has boosted anew its power generation assets after acquiring Bronzeoak Clean Energy, a top developer of clean energy projects in the Philippines.

Philippines: Now Corp raising $29m to expand broadband internet business

Now seeks to use the proceeds to support the expansion of its Fiber-in-the-Air broadband internet service, research and development, capital expenditures, among others.

Philippines: 500 Startups, others back modular home firm Revolution Precrafted in $15.4m round

“They didn’t need venture capital. This is a deal we had to fight to get into.” – Khailee Ng, Managing Partner, 500 Startups