IdeaSpace grows portfolio to 22 Cos in 2014

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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 »


PLDT, Rocket form JV for mobile-first payment services

Sharing the same goal of capturing the global potential of mobile-first payment services in emerging markets, the Philippine Long Distance Telephone Company (PLDT) and venture capital Rocket Internet AG (Rocket), announced Tuesday of establishing a global joint venture. Although the deal’s amount was not disclosed, both companies agreed for a… Read more »


JV firm Golden Cup to run Dunkin’ Donuts China

Golden Cup Pte Ltd has been created as the new $300 million joint venture company set to launch Dunkin’ Donuts in the People’s Republic of China. The plan for the JV, which was first disclosed in December 2014 has Philippine food service titan Jollibee Foods Corp joining hands with Hong Kong-based investment firm RRJ Capital… Read more »


Bisnar appointed Cebu Holdings Inc president 

Cebu Holdings Inc, an affiliate of real estate giant Ayala Land Inc (ALI), has appointed Aniceto V Bisnar as its new director and president. Officially, he will be replacing two Cebu Holdings executives – director Emilio Lolito J Tumbocon, and retired president Francis O Monera. “As our new director and president, Mr Bisnar… Read more »


2GoTravel taps PH startup PinoyTravel

Aiming to boost its inter-island transport business, 2GoTravel, a premier land and sea travel provider in the Philippines, has partnered with the local tech startup PinoyTravel Inc, the first online bus ticket booking service in the country. The amount of the deal was not disclosed. Based on the agreement, 2Go… Read more »


Kickstart’s startups raise $8.6m in 2014

Kickstart Ventures Inc, an investment firm in the Philippines, saw its startup founders in 2014 raise $8.6m total investments from 42 third-party local and foreign-based investors. In its new year message to the Philippine startup community, Kickstart highlighted the raising of funds by its portfolio of 19 startups, the holding… Read more »


PH’s Manila Water forms JV with ZCWD

Four years after its proposal, the Manila Water Company Inc — a subsidiary of Ayala Corporation — has finally formed a joint venture with Zamboanga City Water District (ZCWD) for the creation of a non-revenue water reduction program. In a disclosure to the stock exchange on Monday, Manila Water said they… Read more »


Saudi’s Enjaz ties up with Cebuana Lhuillier

Enjaz Banking Services (Enjaz), one of the biggest money remittance center in the Kingdom of Saudia Arabia (KSA) has teamed up with the Philippines’ micro-financial giant Cebuana Lhuillier. Enjaz has tapped the local pawnshop chain to be its super agent so that Filipinos in KSA can send money remittance in the… Read more »


PNB hires Vergara as CTO 

The Philippine National Bank (PNB) has hired veteran banker Roberto S Vergara as chief trust officer (CTO) with the rank of first vice president – Trust Banking Group. Vergara will assume his new position from January 16,2015. He is coming in from an 11-year stint with the LandBank of the… Read more »