Companies

By Riza Lozada  Corporate borrowings have surged last year to reflect the healthy state of the economy as private bonds registered with the Securities and Exchange Commission (SEC) surged 134 percent in 2016.

Union Bank of the Philippines (UnionBank) has earmarked P3 billion for capital expenditure (capex) to complete its digital transformation strategy, UnionBank President and Chief Operating Officer Erwin R. Bautista said. 

Bambang, Nueva Vizcaya – Chevron Philippines Inc. (CPI), distributor of the Caltex brand of fuels and lubricants, recently inaugurated its newest Caltex service station at the Nueva Vizcaya Agricultural Terminal – Agri-Pinoy Trading Center (NVAT-APTC) located along AH26, Bambang, Nueva Vizcaya. 

The local bourse operated by Philippine Stock Exchange Inc. (PSE) was recognized as the 2016 Best Stock Exchange in Southeast Asia at the Marquee Awards of the 10th Alpha Southeast Asia Deal & Solution Awards held in Sepang, Malaysia last Jan. 25. 

Philippine Airlines (PAL) ramped up its operations by formally launching its third domestic flight last Feb. 1 that will connect Clark International Airport (CRK) in Pampanga to Davao, President Duterte’s hometown province. 

Vehicle sales are growing in pace with the strong economic growth as the combined sales figures of Chamber of Automotoive Manufacturers of the Philippines Inc. (CAMPI), Truck Manufacturers Association (TMA), and Association of Vehicle Importers and Distributors (AVID) last year reached 404,710 units to exceed the sales target of 370,000 for last year. 

By Riza Lozada Public firm Philodrill Corp (Philodrill) will start drilling an a new deep sea oil prospect in the Galoc field in northwest Palawan, the company reported to the stock exchange.

The Lepanto Consolidated Mining Co. board has approved the private placement of 3.35 million common shares of stock for 15 centavos per share or a total of P502.5 million by information technology firm Yapster e-Trade Inc.

Luxury brands retailer SSI Group Inc. has sealed a joint venture with Japanese firm Ryohin Keikaku Co. Ltd. (RKC) to further develop the MUJI retail business in the Philippines. SSI is infusing P89.25 million for a 51-percent stake in the joint venture company (JVC), while RKJ will shell out P85.75 million for a 49-percent stake in the joint venture.

By Riza Lozada Uncertainties on policies that the US government will implement under US President Donald Trump and the dovish statement by Federal Reserve chairperson Janet Yellen, led to mixed results for the Philippine peso and the local bourse.