Companies

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AGRIBUSINESS firm Vitarich Corp. will conduct another debt-to-equity program to wipe out its existing P400-million debt. In a news conference on Tuesday, Vitarich Corp. President and Chief Executive Officer Ricardo Manuel Sarmiento said they had already filed the plan before the Securities and Exchange Commission (SEC), with approval expected within…

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AYALA-LED Globe Telecom said on Tuesday that illegal signal transmitters such as signal boosters, repeaters and RFIDs (radio frequency identification) used for car parking or security systems had affected 1,200 cell sites this year and disrupted services. The telco said in a statement that 60 percent of the affected sites…

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AIRCRAFT manufacturer Airbus said on Tuesday that three of its helicopters would be joining PhilJets’ fleet as part of its continued expansion in the Philippines. Airbus celebrated the on-schedule delivery of four new helicopters to its Filipino customers through its regional delivery and completion center in Singapore recently. “Together with…

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CHELSEA Logistics Holdings Corporation (CLC) announced on Tuesday that it had acquired a 125 gross register tonnage (GRT) Japanese-built tugboat, the MT Fortis VI, to expand its fleet for maneuvering tankers and other larger vessels. The tugboat will be operational by December and will bring CLC’s total tugboat fleet to…

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CONSUNJI-LED DMCI Holdings, Inc. said that its power unit had clinched a contract to construct a 15-megawatt (MW) thermal power plant in the municipality of Mobo in Masbate. DMCI Holdings informed the local bourse on Monday that DMCI Masbate Power Corp. (DMPC), a wholly owned subsidiary of DMCI Power Corp.,…

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ABOITIZ Power Corp., the energy arm of conglomerate Aboitiz Equity Ventures (AEV), said its unit GNPower Dinginin Ltd. Co. (GNPD) had achieved financial close for the project financing of the second unit of the 2 x 668-megawatt (MW) super-critical coal-fired power plant in Dinginin, Bataan. In a disclosure to the…

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MAYNILAD Water Services, Inc. has set aside P136 million for the replacement of 20 kilometers of old pipelines in Parañaque City to address leaks and breakages in the area. The West Zone concessionaire said in a statement on Tuesday the replacement of the secondary and tertiary pipelines of the 30-year-old…

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LISTED Philab Holdings Corp. is planning to acquire 67-percent equity in Sydenham Laboratories, Inc., subject to the approval of the Philippine Stock Exchange and the Securities and Exchange Commission. Sydenham is a manufacturer of hormone-based drugs and specializes in oral drug preparation in dosage forms such as tablet, syrup, capsule,…

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LEISURE and Resorts World Corp. (LRWC) said Monday it was in talks with a Macau-based firm for the possible establishment of a world-class beach resort and casino on Boracay Island in Aklan Province. LRWC and Macau’s Galaxy Entertainment Group (GEG) discussed the project last week with President Rodrigo Duterte, “Galaxy…

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HONDA Cars Philippines, Inc. (HCPI), Honda’s automobile business unit in the Philippines, has issued a voluntary safety recall on select models of the City, Jazz, Civic, CR-V, Accord and Pilot sold in the Philippines from 2001 to 2015 due to a suspected defect in the airbag inflator of the driver-side…

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