8990 Holdings launches $22.4m township


Philippines based real estate firm 8990 Holdings Inc has launched a 140-hectare township project, with an investment of over $22.4 million (P1-billion). Dubbed Deca Homes Pavia Resort Residences (DHPRR), the project is located in Iloilo province and island of Panay in the Western Visayas region. It is near the Iloilo… Read more »

Three foreign-owned banks to enter PH

Three new foreign banks are set to enter the Philippines, as the country opens itself 100 per cent foreign-owned banks, Reducing the entry and ownership barriers will attract more players to the country’s banking sector, benefiting both the economy and the consumer, say officials from the central bank Reports add… Read more »

PH roundup: Global Ferronickel, PSE

Global Ferronickel eyes $600 m PH IPO Philippine-based nickel producer Global Ferronickel Holdings Inc, formerly Southeast Asia Cement Holdings Inc (Seacem), introduced its new corporate name and is reportedly planning to raise $600 million (P26.8 billion) in an initial public offering (IPO) in March. The third largest nickel producer in… Read more »

Ayala Land raises $356m in private placement 

Ayala Corporation, the Philippines-based conglomerate, disclosed on Monday that a successful private placement was made by its real estate arm Ayala Land Inc (ALI), through which the realty firm raised $356 million (P16 billion). Ayala assisted its real estate unit in raising funds through a placement of 484,848,500 common shares at… Read more »

OLX: SEA’s online classified biz mega JV formed

South Africa’s Naspers, Norway’s Schibsted Media Group, Telenor Group and Singapore Press Holdings (SPH) have completed their joint venture transactions, that will see them work together to redraw the online classified businesses in South East Asia, the companies said. The four companies had first announced their partnership in November 2014, and following regulatory… Read more »

BDO,Emirates NBD tie-up for remittances

Philippine’s BDO Unibank Inc has partnered with Emirates NBD, one of the leading banking firms in the United Arab Emirates (UAE), for the money transfer service. BDO is tapping Emirates NBD’s popular money transfer service called DirectRemit 60 Seconds, which enables transfer of Philippine peso to BDO bank accounts in a minute…. Read more »

PH logistics major 2GO partners Y&R|LabStore

2GO Group Inc, a logistics provider titan in the Philippines has signed a strategic partnership with advertising specialist Y&R | LabStore Philippines. Under the partnership agreement, Y&R | LabStore will serve as 2GO’s “agency of record for all its creative requirements.” This covers all of 2GO’s brands, such as 2GO Travel,… Read more »

Singapore’s Globe Telecom unit gets FBO license

Philippine mobile carrier Globe Telecom will be providing international cable capacities and other telecommunications services in Singapore after securing a license as a facilities-based operator (FBO). Globe disclosed to the stock exchange that its unit GlobeTel Singapore Pte Ltd officially obtained the FBO license from the Infocomm Development Authority (IDA)… Read more »

IdeaSpace grows portfolio to 22 Cos in 2014

Having increased its portfolio of startups to 22 in 2014, Philippine tech startup incubator and accelerator IdeaSpace Foundation Inc is gearing up for a more active role in the region this year. The accelerator, which is part of the First Pacific group in the Philippines, has already invested in 29 countries… Read more »

PH Deals Roundup: Gweilo, IMI

The Philippine Stock Exchange (PSE) is off to a good start this new year with new listings like that of the Gweilo Corp. Less than three months after the maiden share sale of DoubleDragon Properties Corp and Xurpas Inc, the PSE is getting response to its invitation to small-sized and… Read more »