PH property developer MRC to form solar energy firm


Listed property developer MRC Allied Inc (MRC) is planning to form a company that will engage in the production of renewable energy, specifically solar energy. “In line with the present policy of the government to promote and support renewable energy sources, the company finds it timely, to venture into renewable energy… Read more »

PLDT invests $22.5m in new data center

The Philippine Long Distance Telecommunications Company (PLDT) is beefing up its data center business by investing in $22.5 million (P1 billion) for the construction of a new state-of-the-art facility based in Makati City’s central business district. Dubbed Vitro Makati, the facility will serve as the fourth Vitro Data Center in… Read more »

Philippines’ Metrobank completes $720m SRO

The Philippines based universal bank Metropolitan Bank & Trust Company  (Metrobank) has finally completed its $720 million (P32 billion) stocks rights offers (SRO), more than a month after the bank’s board approved the plan. In its disclosure to the Philippine Stock Exchange (PSE) on Monday, Metrobank said that a total of… Read more »

Citystate Savings Bank appoints Ramos as president

Citystate Savings Bank Inc (CSB), a listed bank in the Philippines, disclosed yesterday that Benjamin V Ramos has been appointed the new president, replacing lawyer Rey D Delfin. Ramos will also be a member of the bank’s Member of Trust Committee. Prior to the appointment, Ramos had just been re-elected the director of CSB,… Read more »

Philippines Dealbook: Ginebra, ABCI

A new subsidiary has just been incorporated in the Philippines by a listed holding firm A Brown Group of Companies Inc (ABCI). Meanwhile a local beverage company sold multi-million dollar worth of assets and property. Ginebra sells $5m plant, assets Ginebra San Miguel Inc, a subsidiary of diversified conglomerate San Miguel… Read more »

PH based Alliance Select Foods raises capital stock to $62.2m

Bracing for more competition, Philippine-based food manufacturer Alliance Select Foods International Inc has raised its capital stock 50 per cent, from $33.6 million (P1.5 billion) to $62.2 million ($3 billion). Alliance Select informed the stock exchange on Wednesday that its stockholders, representing more than two-thirds of the outstanding capital stock,… Read more »

PH investment firm Kickstart gets mandate for $50m VC fund

Philippine-based investment firm Kickstart Ventures Inc received a fresh $50 million (P2.2 billion) venture capital fund, which was earmarked by its parent company Globe Telecom. Referred to as “Fund 2”, the latest amount is way bigger than Kickstart’s $2.4 million seed fund or “Fund 1” which was focused on seed… Read more »

Xurpas invests $1.4m for 31.5% stake in Singapore’s MatchMe

Filipino-founded tech startup Xurpas Inc, announced on Tuesday that it was taking a $1.4 million (P62.5 million) investment stake in the Singapore-based mobile and web tournament games platform MatchMe Pte Ltd. The deal secured Xurpas a 31.52 per cent stake in MatchMe, which is engaged in the development, licensing and… Read more »

AUB invests $6.7b for new house subsidiary in PH

Asia United Bank Corp (AUB), a listed medium-sized commercial bank in the Philippines, has invested $6.7 billion (P300 billion) for a new house subsidiary. AUB disclosed to the stock exchange on Monday that its board of directors has approved the incorporation of the company’s wholly-owned subsidiary in the Philippines for… Read more »

Cloud startup InnoVantage enabling speed in business apps creation

Enabling speed in creating business applications and automated processes became the mission of Filipino tech startup InnoVantage Inc, a company that started out due to difficulties of finding good senior developers. Launched only last July 2013 by design and software enthusiasts Gian Paulo G. de la Rama, and Aldrich and Ana… Read more »