Companies

Manila Water Philippine Ven­tures Inc. (MWPV) and SM Prime Holdings Inc. entered into a memorandum of agreement (MOA) for water delivery services and facilities.

The Information Technology and Business Process Association of the Philippines (IBPAP) foresees continuous growth for the country’s IT and Business Process Management Industry (IT-BPM) due to local and global business expansion.

LBC Express Holdings Inc. (LBC) plans to conduct a follow-on offering of up to 69.1 million common shares to raise up to P1.17 billion in working capital for the listed firm’s expansion thrust.

Listed Roxas Holdings Inc. (RHI) reported a consolidated net income of P102 million for its fiscal year ending September, which was 451 percent higher than the P18.5-million profit recorded a year earlier.

By Riza Lozada PAL Holdings, Inc. (PHI) will acquire 100 percent of the total issued and outstanding shares of Zuma Holdings Management Inc., the holding firm of PAL and its affiliate Airline Philippines Corp. (APC), in a transaction valued at P8.2 billion to effectively consolidate the airline business of the Lucio Tan Group.

SM Supermalls has partnered with BDO and SM Store for the biggest annual OFW Christmas party via the “5th Pamaskong Handog Para sa Global Pinoys” that is set to happen in ten SM malls nationwide. 

Communications gi­ant Globe Telecom is seeking govern­ment help in its bid to speed up the installation of more cell sites in the country as consumer demand for mo­bile data rises.

Diversified Ayala Corp. (AC) fully redeemed P10 billion of its 5.45 percent bonds due on 2019 to fulfill call option on the debt instruments.

Global port operator Inter­national Container Terminal Services Inc. (ICTSI) is com­mited to developing, man­aging and operating ports in Kenya and East Africa in general, Jacob Gulmann, ICTSI Business Develop­ment Director, said.

By Riza Lozada The Securities and Exchange Commission (SEC) has approved bourse trading in US dollars or the so-called US-Dollar Denominated Securities (DDS) at the Philippine Stock Exchange (PSE) to provide issuers an opportunity to raise capital without incurring foreign exchange risks.