Philippine tycoons propose $6.7b upgrade of Manila airport


San Miguel Corp. and a group that includes billionaire Henry Sy have competing proposals for new airports to service the capital.

Philippine Digest: Freeman eyes investments; Mulgrave ups stake in Rose Pharmacy

Freeman FinTech is exploring investment opportunities in the Philippines while Netherlands-based Mulgrave Corp is raising its ownership in Rose Pharmacy.

Philippine Digest: Ayala to buy college; San Miguel earmarks $13.6b for expansion

San Miguel allocates $13.6bn capital expenditure while Ayala Corp is acquiring National Teachers College for an undisclosed amount.

Philippine Digest: Ayala seeks to acquire Kia distributorship; San Miguel bond offer

Ayala Corp’s subsidiary, AC Industrial, has been picked as “preferred bidder” for Kia’s dealership in the Philippines

Philippine Digest: PSE profit rises 18% in 2017; 8990 Holdings to invest $1.1b to expand realty biz

Mass housing developer 8990 Holdings is expanding its real estate portfolio with a Php60 billion ($1.1 billion) investment across the Philippines this year.

Del Monte seeks to raise up to $324m with Philippine unit’s IPO

Del Monte will use the proceeds primarily for debt repayment and for general corporate purposes.

Philippine Digest: Fruitas eyes $39m IPO; Ayala earmarks $3.9b for expansion

Proceeds from the IPO of Fruitas will be used for network expansion, facilities upgrade, and future acquisitions.

Philippine travel startup Bliimo eyes expansion to six countries

When all goes well within two years of our projected local expansion, we’ll be expanding to six other countries. – Ronn Mitchell Esguerra, CEO, Bliimo

Philippines: Healthcare firm Philab invests $9.6m in US-based Veritas Genetics

The Philippine firm said the investment will be used to develop a genome sequencing facility in Asia.

Philippines: SM Retail calls off acquisition of Goldilocks Bakeshop

Both SM and Goldilocks have jointly agreed not to pursue the transaction given changes in the general business environment.