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 »

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 »