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Philippines: 14 promising startups to watch in 2017

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DEALSTREETASIA handpicked 14 promising startups that are interesting to watch in 2017. These groups are into fintech, real estate, transportation, software, cloud services, business applications, mobile gaming, and human resources.

Development Bank of Philippines appoints Borromeo president, CEO

State-owned Development Bank of the Philippines (DBP) has named former Land Bank of the Philippines officer in charge (OIC) Cecilia Borromeo as its new CEO and president to take effect on January 9, 2016.


Philippines 2017: Host of new startup enablers to boost ecosystem

Year 2016 saw the emergence of several organizations sharing the same goal of developing a more collaborative startup ecosystem in the Philippines.


Philippines: Ayala’s AC Energy to sell three hydro companies

Ayala’s power unit AC Energy Holdings Inc signed definitive documents to sell all of its ownership stake in each of QuadRiver Energy Corp, Philnew Hydro Power Corp, and PhilnewRiver Corp to Sta. Clara Group Inc.


Philippines: Vista Land raises $103.5m from corporate notes issue

Vista Land plans to use the proceeds for its 2017 capital expenditures, refinance its existing indebtedness, and for other general corporate purposes.


Philippines: MPTDC gets controlling stake in Tollways Management Corp

Metro Pacific Tollways Development Corp (MPTDC) has acquired a 60 per cent controlling stake in Tollways Management Corp (TMC) as it bought additional 14 per cent shares of stock worth $17.7  million (P884.6 million). MPTDC is a wholly-owned subsidiary of Metro Pacific Tollways Corp, the toll roads unit of listed… Read more »


Philippines: UnionBank ventures into microfinance with acquisition of FairBank

Conglomerate Union Bank of the Philippines (UnionBank) has forayed into rural and microfinance banking with the acquisition of First-Agro Industrial Rural Bank (FairBank).


Philippines: Ayala’s AC Energy acquires Chevron’s geothermal assets

The acquisition is seen as a major milestone for AC Energy as it scales up its renewable energy platform and establishes its presence in Indonesia.


Philippines: Petron buys San Miguel power plant for $400m

Listed oil refining and marketing company Petron Corp has acquired for over $400 million (P20.29 billion) the 140-megawatt solid fuel-fired power plant of SMC PowerGen Inc.


Philippines: Century Pacific Food buys China distribution firms for $2.5m

The Philippines’ largest canned food company Century Pacific Food Inc (CNPF) has bought for $2.5 million a number of distribution firms in China in order to expand its branded exports business.