Companies

By Riza Lozada  A surge in initial public offerings (IPOs) last year countered weak trading at the bourse to boost the Philippine Stock Exchange Inc.(PSE) net income by 3 percent to P701.54 million last year from P682.81 a year ago. 

Major lender Metropolitan Bank and Trust Co. (Metrobank) reported a consolidated net income of P18.1 billion in 2016 Profit for the fourth quarter grew 3 percent to P5.5 billion from a year ago, the bank reported. 

Century Pacific Food Inc (CNPF), the country’s largest canned food company, has been awarded by Asiamoney as the country’s Best Managed Company in 2016, under the small capital category. 

The Philippines and South Korean governments have agreed to work together for the conclusion of Association of Southeast Asian Nations (ASEAN)-led trade pact, the Regional Comprehensive Economic Partnership (RCEP). 

Listed Rizal Commercial Banking Corp. (RCBC) reported a consolidated net income of P3.86 billion last year with its net interest income of P15.7 billion, accounting for 69 percent of total revenues of P22.81 billion. 

Ayala Group unit Bank of the Philippine Islands (BPI) achieved a full-year net income of P22.05 billion in 2016, growing by 20.9 percent with comprehensive income reaching P21.74 billion which was also a 30.2 percent improvement.

By Riza Lozada The Gokongwei group’s food conglomerate Universal Robina Corp (URC) and Hong Kong’s Vitasoy Group have established a joint venture in the manufacture of high-quality, nutritious and sustainable food and beverage products. 

By Riza Lozada  The Securities and Exchange Commission’s (SEC) shelf registration program has drawn some of the biggest companies to apply for more than P100 billion in planned bond floats.

Telecommunications and digital services provider PLDT Inc., through its Home, Enterprise and International Carrier Business Groups, and Smart Communications, sealed a partnership with TV5’s multi-platform, multi-discipline production outfit, D5 Studio, Voyager Innovations’ digital marketing solutions arm, VYGR Digital Agency, and PLDT’s Big Data Organization, Partner Analytics and Customer Experience, or PACE (formerly Talas Data Intelligence, Inc.) through the signing of …

Local builder Atlantic, Gulf and Pacific Company (AG&P), which now focuses on LNG infrastructure solutions including LNG terminals and supply chains, and Hindustan LNG (HLNG), an LNG import terminal development company based in India, have signed a memorandum of understanding (MOU) to supply natural gas to power stations in the East Godavari region of Andhra Pradesh, India.