General Cable sells 60% PDP stake to Anscor


US-based wire and cable firm General Cable Corp has sold its majority holdings in Phelps Dodge International Philippines Inc (PDP) to its local joint venture partner A Soriano Corporation (Anscor), for a cash consideration of $67.1 million (P3 billion), the company said. The deal also involves General Cable Corp selling its 0.2… Read more »

Soilbuild REIT buys IMI’s SG property for S$22m

Philippine-based chip-maker Integrated Micro-Electronics Inc (IMI) has sold its Singapore property to DBS Trustee Limited  in its capacity as trustee of Soilbuild Business Space REIT for S$22 million (P757 million). As a follow up to this disclosure to the Philippine stock exchange last August 27, IMI said that its Singapore-based indirect… Read more »

PH-based Rockwell acquires 60% in ATRKE Land

The Philippines’ premiere property developer Rockwell Land Corp (Rockwell Land) is planning to acquire a controlling interest in an upscale residential complex, Tribeca Project, south of Metro Manila. Rockwell Land disclosed this to the stock exchange on Tuesday. According to the this disclosure document, Rockwell’s subsidiary Rockwell Primaries Development Corp… Read more »

RCBC cancels stock Rights offer to Cathay Life

Rizal Commercial Banking Corp (RCBC), one of the top 10 banks in the Philippines, has declined the sale  of its common shares to Cathay Life Insurance Co (Cathay Life), a subsidiary of Taiwan’s largest financial firm Cathay Financial Holdings Company,. RCBC informed the local stock trade on Tuesday, December 23,… Read more »

Malaysia’s Khazanah buys 2% in BDO Unibank

SM Investments Corp (SMIC), founded by one of the Philippines’ richest man, Henry Sy, has sold a portion of its stake in BDO Unibank to Malaysia’s state investor Khazanah Nasional Bhd. In a disclosure to the stock exchange on Tuesday, December 23, SMIC through its subsidiary Multi-Realty Development Corp said… Read more »

Local issues are startup opportunities: IMJ’s Saito

On a lookout for promising startups, Japanese startup accelerator IMJ Investment Partners claims to have found a gold mine of high-potential startups in the region of Southeast Asia. In fact, the accelerator has decided to dedicate its resources and its VC(venture capital) fund to support enterprises in the region and… Read more »

Polaris, TechTitan form $441k telco JV for PH

Singapore-based holding firm Polaris Ltd, through its subsidiary Polaris Explorer Pte Ltd (PEPL), has tied up with TechTitan Technology Inc (TechTitan) to form a joint venture company with an investment of $441,000 (P15 million), in the Philippines . The newly-formed company named Polaristitans Philippines Inc (Polaristitans) will carry on the business… Read more »

Jollibee, RRJ form $300m Dunkin’ Donuts China JV

The Philippines’ largest food service network Jollibee Foods Corp and Asian based investment firm RRJ Capital Master Fund II LP, through their subsidiaries, have committed an investment of up to $300 million to launch a new business that will own and operate Dunkin’ Donuts restaurants in the People’s Republic of China…. Read more »

Cathay Life, RCBC forge $178.7m deal

Taiwan’s Cathay Life Insurance Co (Cathay Life) acquired a 20 per cent stake in the Philippines’ Rizal Commercial Banking Corp (RCBC) as both companies finally signed the long-awaited $178.7 million (P7.92 billion) share purchase deal on Wednesday, news reports said. Cathay Life’s parent company Cathay Financial Holdings Company, the largest… Read more »

5 Startup Ideas that won PH Challenge

Finding the right internship, dorms, scholarships, the sentiment quotient of social interaction and the right set of dependable people – the five mainstays  of student life could be at the centre of the next wave of successful startups from the Philippines. Already, the apps centered on these five activities have won top honours  at the… Read more »