KRISTYN NIKA M. LAZO, TMT

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WILCON Depot Inc. (WLCON), the home improvement and construction supply retailer, made a strong debut on Friday on the Philippine Stock Exchange (PSE), with its shares climbing 5.5 percent despite a sluggish broader market. Wilcon shares closed at P5.33, up 5.54 percent from its initial public offering price (IPO) of…

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TWO of the country’s largest conglomerates, Ayala Corp. and SM Investments Corp. (SMIC), have submitted a joint unsolicited proposal to the government to build an 8.6-kilometer elevated tollway that would link Sta. Mesa to the SM Mall of Asia (MOA) Complex in Pasay City at a cost of P25 billion.…

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GOTIANUN-LED conglomerate Filinvest Development Corp. (FDC) saw its net income rise 21 percent to P8.5 billion last year on the back of higher revenues spurred mostly by its banking and property businesses. In a statement on Friday, FDC said its consolidated revenues increased 19 percent to P58.6 billion in 2016…

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CONGLOMERATE SM Investments Corp. (SMIC) has acquired 34.5 percent minority stake in logistics firm 2Go as part of its strategy to invest in the logistics business given the country’s robust economic growth. “We are pleased with this opportunity to invest in a fast growing, dynamic logistics business. It will benefit…

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LISTED mobile technology company Xurpas Inc. said it is still in the process of coordinating with the Securities and Exchange Commission (SEC) on the planned initial public offering (IPO) of its celebrity game operator Xeleb Technologies Inc. “Our Xeleb IPO is still in the process as we are coordinating with…

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LISTED resorts developer Premiere Horizon Alliance Corp (PHA) said on Thursday its board of directors has approved the indicative terms of its proposed private placement of preferred shares in its subsidiary West Palawan Premiere Development Corp. (WPP) to raise up to P500 million. Proceeds will be used to fund the…

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THE Ayala Group is consolidating its industrial businesses by transferring its stake in a semiconductor manufacturing arm to AC Industrial Technology Holdings Inc. (AC Industrials), the group’s industrial holdings subsidiary. In a statement on Wednesday, Ayala Corporation said its wholly owned subsidiary AYC Holdings Ltd. (AYC), held through AC International…

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TUNA canner Century Pacific Food Inc. (CNPF) said net income rose 37 percent last year on sustained revenue growth and the contribution streams from its recently consolidated coconut subsidiary. CNPF said its consolidated net income jumped 37 percent year-on-year to P2.66 billion in 2016 while total revenues grew 21 percent…

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LISTED memorial parks developer Golden Haven Memorial Park Inc. posted record profits last year driven by strong sales of memorial lots and columbarium vaults following an expansion that kicked off in 2016. The company said its consolidated net income reached P180.22 million last year, 19 percent higher than the P151.12…

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