AutoDeal to expand in SEA, launch new verticals


As it gained foothold in the local motoring industry, Philippine startup AutoDeal is now planning to expand its business across countries in SEA.

PHA completes deal to acquire 51% in tech firm

Philippine-based investment holding company Premiere Horizon Alliance Corporation (PHA) has completed the P80 million ($1.8 million) deal to acquire a controlling stake in technology firm, Concepts Unplugged Environment Solutions (Cubes) Inc,  that offers cooling solutions, the company said. The deal was first announced last year and both companies had signed their Memorandum of Agreement… Read more »

Del Monte promoters bag $100m loan from BPI

NutriAsia Pacific Ltd, the controlling shareholder of Del Monte Pacific Ltd (DMPL), had entered into a term loan agreement with the Bank of the Philippine Islands (BPI) for up to P4.4 billion ($100 million) to finance its subscription in DMPL’s rights issue.

Naughton to head DMFI’s strategic planning

Del Monte Pacific Limited (DMPL) has appointed Jeanette Beatrice Naughton  as the executive director and vice president for strategic planning, of its principal subsidiary Del Monte Foods Inc (DMFI). According to the Singapore and Philippine-listed company, DMPL’s board of directors has reviewed, assessed and approved the appointment of Naughton as… Read more »

Anglo Holdings sells NTDCC stake for $28.5m

Anglo Philippine Holdings Corporation raised $28.5 million (P1.26 billion) from the sale of its entire stake in North Triangle Depot Commercial Corp (NTDCC) to the local realty firm Ayala Land Inc (ALI). The deal was a completed transaction that began last December 3, 2014 when the Ramos-led investment holding firm… Read more »

PH startup Salarium wins $500k Seedstars prize

Philippine payroll service tech startup Salarium on Thursday took home the grand prize of $500,000 after winning the global Seedstars World (SSW) Competition held in Geneva, Switzerland. A total of 12 Asian startups and 36 companies in total, were competing for at the Seedstars World (SSW) Grand Final Competition. All in all,… Read more »

PH startup Hiraya mulls regional expansion

Philippine-based startup Hiraya Water Solution is looking at expanding overseas.

Universal Robina gets $576m loan for NZ buyout

Philippine-listed snack and beverage company Universal Robina has raised NZ$742.32 ($576 million) from a total of 14 foreign banks to fund its acquisition of New Zealand’s top snack foods maker, a report said. The five-year bullet loan arrangement will be used to finance URC’s $609 million acquisition of New Zealand… Read more »

PH co GT Capital raises $222m in block share sale

Philippines company GT Capital Holdings Inc (GTCAP), a listed holding company in the Philippines, announced Tuesday, that it had raised P9.848 billion ($222.9 million) through an  overnight share sale by major equity holders of the company. GTCAP reported to the local stock exchange that its largest shareholders — Grand Titan Capital… Read more »

Standard Chartered ‘to sell Philippines retail unit’

London-listed international banking group Standard Chartered is said to be planning to sell its retail business in the Philippines, according to a Reuters report. The report quoted a source as stating that the move could be one of the strategies that Standard Chartered CEO Peter Sands is planning for in… Read more »