Exclusive: IFC to provide upto $20m loan to Radiowealth Finance


This is the first investment by IFC in the region in 2017.

People Digest: Ayala Land, PhilNaRe appoint new finance chiefs

Ayala Land Inc, and the Philippine National Reinsurance Company (PhilNaRe) both appointed new finance chiefs.

Philippines: Daiwa acquires 14.9% stake in stock broker COL Financial

Daiwa made the investment to capitalize on the Philippines’ fast-growing retail segment and young wealth builders.

Philippines: CIP to divest 65% stake in LMG Chemicals

CIP cited “income from disposition” as the reason behind the planned share sale.

Philippines: GT Capital invests $483m in Metrobank, ups stake by 9.6%

The acquisition will increase GT Capital’s stake in Metrobank by 9.622 per cent from 26.47 per cent to 36.092 per cent.

People Digest: Korean military fund appoints CIO; Manila Water’s new president

Korea’s Military Mutual Aid Association (MMAA) has appointed Jae Dong Kim as its new chief information officer, while listed Philippine-company Manila Water Co has named Ferdinand dela Cruz as president and CEO, and appointed other key executives. Korea’s MMAA appoints new CIO Jae Dong Kim, former equity head of South Korea’s Military… Read more »

SBS Philippines okays $4m share buyback, $50m debt deal

the share buyback program will replace the previous mandate which has already been exhausted, while its P2.5 billion agreement​ with Security Bank is a five-year fixed interest term loan.

Philippines: Accion, DeepBlue upsize First Circle’s seed fund to $2.5m

It has earlier raised $1.2m seed in October 2o16 led by Key Capital.

Philippines: Chinabank set to raise over $300m in rights offer

China Banking Corp (Chinabank) is set to raise gross proceeds of over $300 million (P15 billion) through a stock rights offering (SRO) on the Philippine Stock Exchange (PSE) slated on April 24 to May 5, 2017. Chinabank intends to use the proceeds to fund the bank’s credit growth in the… Read more »

Philippines’ fintech startup Acudeen wins Seedstars World 2017, bags $500k

Besides Acudeen, three other startups in Asia made it to the top 14 finalists, namely Sri Lanka’s LayUp, Singapore’s uHoo, and PiQuant from South Korea.