Companies

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MITSUBISHI Motors Philippines Corp. (MMPC) said its output in 2016 increased by 46 percent to 22,008 units, its highest production volume since 1998, driven by strong consumer confidence amid the stable economy. “We are pleased to achieve such a huge increase in production volume in 2016. This improvement can be…

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AG&P (Atlantic, Gulf and Pacific Co.) announced on Tuesday that it has signed a Memorandum of Understanding (MoU) with Air Liquide Global E&C Solutions to develop small-scale LNG (liquefied natural gas) infrastructure for LNG distribution across Asia. AG&P is a leading integrator of infrastructure solutions across the LNG supply chain…

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LISTED Phoenix Semiconductor Philippines Corp. (PSPC) has officially started commercial production of new mobile memory devices called the embedded multi-media card (eMMC). The company told the Philippine Stock Exchange (PSE) on Tuesday that it started eMMC production this year after completing trial production in the latter part of 2016, which…

AS COST OF DIGITAL SHIFT PILES UP

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THE Philippines’ most valuable telecommunications company, PLDT Inc., said on Tuesday its consolidated core net income dropped 21 percent in 2016 on lower revenues and as the cost of shifting its business to digital services pile up. In a briefing in Makati City, PLDT Chief Financial Officer Annabelle Chua said…

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SM Prime Holdings Inc., the listed property developer of the SM Group, has secured an “Aaa” credit rating from Philippine Rating Services Corp. (Philratings) for its P20-billion bond issue, the second tranche of its P60-billion bond program under shelf registration. In a statement on Monday, SM Prime said Philratings rated…

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LISTED Italian-Filipino property developer Italpinas Development Corp. (IDC) announced on Tuesday that Januario Jesus Gregorio “JJ” B. Atencio 3rd, president and chief executive officer of mass housing developer 8990 Holdings Inc., has joined its board of directors. IDC said that Atencio, who joined its board last March 1, would add…

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THE local furniture industry is projecting a 15 percent to 20 percent increase in domestic sales this year on the back of strong demand fueled by a booming property market. “Exports, in fact, are really booming, but most of the big exporters are really busy on the local market because…

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LISTED ports operator International Container Terminal Services Inc. (ICTSI) said it is expanding the capacity of its flagship Manila International Container Terminal (MICT) with the acquisition of $80-million (P4.02 billion) worth of new equipment. In a statement on Monday, ICTSI said it is allocating $80 million for the capacity expansion…

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Eyes P1-B follow-on offer in Q3 MARITIME services provider Harbor Star Shipping Services Inc. plans to operate a container chassis roll-on/roll-off (Cha-Ro) system between the Cavite and Manila ports that will seek to create a “marine highway” for the transport of big containers and help decongest traffic in Metro Manila.…

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NON-BANK financial services provider MLhuillier has tied up with travel agency Asiatravel.com to provide an alternative payment mode for travelers through its branch networks across the country. MLhuillier recently signed an agreement with Asiatravel.com under which online bookings of flights, hotels and/or tour packages made with Asiatravel.com can be paid…

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