Companies

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Listed company MacroAsia Corporation expects to receive $14.7 million as its share of dividends from aircraft maintenance provider Lufthansa Technik Philippines (LTP). “We are advising the Philippine Stock Exchange (PSE) and the investing public that Lufthansa Technik Philippines, a joint venture of MacroAsia Corporation with Lufthansa Technik AG… has declared…

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TWO members of Ortigas clan are questioning the validity of the transfer of a nearly 40 percent stake in their holding company to property developer SM Prime Holdings Inc., a subsidiary of the Henry Sy-led conglomerate SM Investments Corp. (SMIC), in 2015. Sisters Michelle and Francesca Litton Ortigas told The…

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TOYOTA Motor Philippines Corporation (TMP) recently inaugurated a P465-million new Vehicles Logistics Center (VLC) within the Toyota Special Economic Zone in Santa Rosa, Laguna. The new logistics center, with a total area of 12.8 hectares, will substantially increase TMP’s vehicle stockyard capacity and improve car carrier operations for its dealer…

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LOW-COST carrier Cebu Pacific will start commercial air services between Manila and Batanes on March 25, 2018. Cebu Pacific, through its subsidiary Cebgo, will operate a once per day flight from March 25 until October 27, 2018. The flight departs from NAIA Terminal 4 in Manila at 6:20 a.m., and…

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FOOD and beverage firm RFM Corp. saw its full-year 2017 net income grow 6 percent to over P1 billion, boosted by strong sales revenues. RFM told the Philippine Stock Exchange on Monday that its net income in 2017 reached P1.06 billion, or higher by P6 million versus the P1 billion…

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TOWNSHIP developer Megaworld Corp. is confident of reporting double-digit business growth for 2017 driven by strong demand for its property projects. “It was a very good year,” Megaworld First Vice President Kevin Tan told reporters last week. “Certainly [double-digit], to say the least,” he added, without specifying wheter the double-digit…

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MPCALA Holdings Incorporated, a unit of listed Metro Pacific Investments Corporation (MPIC), is hopeful of being awarded original proponent status (OPS) for the Cavite-Tagaytay-Batangas Expressway (CTBEx) by the end of this month. “CTBex is almost complete with its documentation. We hope to be able to get the OPS by the…

Amid govt push for common tower policy

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THE so-called duopoly of Globe Telecom and PLDT expressed openness to a common tower policy but said they should be allowed to put their own towers as indicated in their franchises. In a bid to hasten the rollout of cell sites, the government announced in January its plan to implement…

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PROPERTY developer Philand Properties Corp. is seeking damages amounting to P17.8 million following a seven-year dispute with Aboitiz-led Union Bank of the Philippines. Documents showed that Philand Properties is asking Union Bank P7 .6 million in actual damages, P4.19 million as legal interest; P3 million for moral and exemplary damages;…

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LISTED China Banking Corp. said its earnings for full-year 2017 jumped 15 percent, buoyed by the robust performance of its core and fee-based businesses. In a disclosure on Friday, China Bank said consolidated net income hit P7.4 billion versus the P6.45 billion recorded in 2016, translating to a 9.90 percent…

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