Companies

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LISTED agribusiness firm Calata Corp. is selling 81 percent of its equity via a share subscription deal involving 2.5 billion shares to Millennium Global Holdings Inc. The transaction value of the deal has to be made final, pending the signing of definitive agreements between the companies. “Post-acquisition, Millennium, using Calata,…

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TECH firm Dell EMC said on Thursday the merger of Dell Technologies and EMC Corp. strengthened its position in the market as a strategic partner of companies planning to engage in digital transformation. Ronnie Latinazo, country general manager of Dell EMC Philippines, said the merger has paved the way for…

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LISTED pizza chain Shakey’s Pizza Asia Ventures, Inc. (SPAVI) said it is poised to exceed its target of 20 new stores this year as it ramps up its expansion plan. “Last count I think we had 17 up—the stores opened this year. This is the 17th for this year,” SPAVI…

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SOLAR panel provider Solar Philippines said on Thursday that Manila Electric Co. (Meralco) consumers may enjoy as much as a 30 percent reduction in power rates soon if its proposal to the distribution utility is approved. Solar Philippines said it submitted to Meralco a proposal seeking to replace planned coal…

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A unit of Semirara Mining and Power Corp. is looking to expand its client base under the retail competition and open access (RCOA) regime after the Energy Regulatory Commission (ERC) granted the company a license to operate as a retail electricity supplier (RES) in November 2016. Sem-Calaca RES Corp. has…

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PILIPINAS Shell Petroleum Corp. recorded a net profit of P4.19 billion in the first half of the year, down 17.4 percent from P5.07 billion in 2016. The lower profit was attributed to the planned refinery preventive maintenance shutdown in the last two months of the second quarter and lower inventory…

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LISTED Phoenix Petroleum Philippines Inc. announced it has completed and the acquisition of Petronas Energy Philippines, Inc. (PEPI), a step closer to expanding its liquefied natural gas (LNG) portfolio. The independent oil distributor told the Philippine Stock Exchange (PSE) on Tuesday that it and PDB (Netherlands) B.V. have completed and…

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LOPEZ Holdings Corp. said net income attributable to equity holders of the parent dropped 34 percent to P1.76 billion in the first half of the year from last year’s P2.67 billion due to one-off losses and the absence of one-off gains at its associate. Unaudited consolidated revenues increased by 17…

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LOPEZ-OWNED First Gen Corp. recorded a consolidated net income of $101.1 million (P5.2 billion) in the first six months of the year, down 37.6 percent from $162.14 million (P8.33 billion) in 2016. First Gen, in a disclosure to the Philippine Stock Exchange on Tuesday, reported that net income attributable to…

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Listed PHINMA Energy Corp. (PHEN) reported a net income of P298 million for the first six months of the year, down 45 percent from P541.5 million last year, on lower electricity prices. The company told the local bourse on Tuesday that net income attributable to equity holders of the parent…

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