Bright Kindle buys 33% in Marcventures for $60.4m

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Philippine credit card services firm Bright Kindle Resources & Investments Inc (BKR) has invested P2.7 billion ($60.4 million) in Marcventures Holdings Inc, acquiring 33 per cent stake in the nickel mining company. In a disclosure to the Philippine Stock Exchange, BKR said it acquired 600 million shares of Marcventures from… Read more »

Profriends Group holds off IPO pricing 

Philippine-based property company Profriends Group Inc halted, Monday, the pricing of its initial public offering (IPO), the ABS-CBN news online reported. Profriends’ IPO underwriter explained the price offer still needed to be set, awaiting the Philippine Stock Exchange’s (PSE) approval of the up to P7.7 billion ($173 million) IPO. The… Read more »


PSE-PDS merger halted again, moved to 2015 

The much anticipated merger of the Philippine Stock Exchange (PSE) and the Philippine Dealing System Holdings Corp (PDS) for 2014 has been postponed, again, due to the lack of board approval of other key owners. Quoting on PSE president and chief executive officer Hans B Sicat, local media firm BusinessWorld… Read more »


Ph based Pure Foods mulls $336m share sale

Wanting to regain its outstanding callable preferred shares, San Miguel Pure Foods Co Inc (SMPF) plans to sell $336 million (P15 billion) of preferred shares, news reports said. A food and beverage unit of Philippine conglomerate San Miguel Corp, SMPF is seeking regulatory approval for its offer consisting of 10… Read more »


11 Philippine startups that stood out in 2014

The Philippines continues to prove itself in the startup space particularly in the field of technoprenuership, as seen from the innovative ideas and performance of local startups in 2014. The year, which saw successful listing of local startup Xurpas , marked “coming-of-an-age” of the startup scene in the country. Flush… Read more »


Ateneo De Davao teams win PH Startup Challenge

The Philippine Software Industry Association (PSIA) and Department of Science and Technology ICT Office (DOST-ICTO) successfully concluded the first Philippine Startup Challenge (PSC) on Friday night. 20 teams from different colleges nationwide participated in it. PSIA program manager Karen Reyes said three of the five winning teams were from Ateneo… Read more »


PH co Xurpas acquires Altitude Games for $740k

Fresh from raising P1.36 billion (US$30.4 million), through its maiden public offer earlier this month, Philippine mobile giant Xurpas Inc has opted for the inorganic expansion route, by acquiring a 21.7 per cent  stake in the Singapore tech company Altitude Games for P33 million ($740,800). According to the disclosure made by the… Read more »


Corpuz is Xurpas new CFO, CIO  

Philippine based multi -million dollar tech startup company Xurpas Inc has  appointed Alexander Corpuz as its new chief financial officer (CFO), chief information officer (CIO), and also compliance officer. Called “Mar” by his peers, he will be bringing to Xurpas his 11-year experience in consultancy, investment banking and commercial banking…. Read more »


Mobiles push SEA online gaming revenues to $784m

The online gaming market in Southeast Asia is estimated at $784.4 million, by revenue, for the current year. This was disclosed by a survey report on online gaming, which was conducted bu the Asian games market intelligence firm Niko Partners The survey polled around 10,000 PC online gamers in six… Read more »


Philippines gives more time to startups: Arup Maity

Having set up five companies in the region since 2001, Arup Maity – current president and CEO of BlastAsia Inc and co-founder of Philippine startup incubation group Spring.PH – says he has found Philippines to be a suitable “runway for startups”  wanting recognition in the market. According to him, the risk of startup… Read more »