Companies

AboitizLand, the property de­veloper unit of Aboitiz Equity Ventures (AEV), plans to un­dertake five housing projects next year worth about P4 bil­lion located outside Metro Manila, riding on the growth of residential property market.

By Riza Lozada The country’s oldest mining firm Ben­guet Corp will seek a court injunction on the Department of Environ­ment and Natural Resources’ (DENR) refusal to lift a sus­pension order imposed on its mining operations in Sta. Cruz, Zambales.

Intense competition in the smartphone market as a re­sult of the proliferation of low-cost units, mainly from China prompted Moto, for­merly Motorola, is seeking to change the equation through the offering of high-quality phones within reach of Fili­pino consumers through tie-ups with phone companies.

Broadcast giant ABS-CBN Corp. reported a consolidated revenue of P31.1 billion for the first nine months boosting its net income by 50 percent to P2.85 billion compared to the same period last year.

Listed building equipment supplier Holcim Philippines posted a 15.3 percent jump in net income to P1.76 billion for the third quarter from a P1.53 billion profit a year ago.

By Riza Lozada Pilipinas Shell Petroleum Corp. (PSPC) alloted a total of 27.5 million shares for purchase of local small investors (LSI) under the Local Small Investors Program, and 55 million common shares have been allocated for purchase through trading participants of the Philippine Stock Exchange, Inc. (PSE) in the company’s initial public offering (IPO).

Global port operator International Container Terminal Services Inc. (ICTSI) successfully repurchased $345.5 million of its outstanding perpetual securities through a tender offer funded by the issuance of new senior perpetual securities worth $375 million.

Kickstart Ventures, a wholly-owned venture capital firm of Globe Telecom, invited local startups to participate in the second installment of Singtel Innov8’s global call to create innovative solutions for real world business challenges.

Shakey’s Pizza Asia Ventures Inc (SPAVI), the operator of the Shakey’s pizza chain of stores, is targeting to raise up to P5.5 billion through an initial public offering this year.

Rival mall operators SM Prime Holdings and Robin­son’s of the Gokongwei group are planning to put up sepa­rate mall projects in Legazpi City, Albay starting with the P1.5-billion SM City Legaz­pi which will break ground in January next year.