Companies

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.

The Manila International Container Terminal (MICT), listed International Container Terminal Services Inc.’s (ICTSI) flagship operation and the country’s largest, most technologically advanced container terminal, capped 2016 with a milestone as it reached its first year-to-date 2 million TEU moves last December.

Gross revenues of companies in the first nine months of last year grew by 6.8 percent, consistent with the growth in the economy of almost the same rate, a Philippine Statistics Authority (PSA) report showed.

Conglomerate Phinma Corp started the year marking its 60th anniversary celebration by recognizing its employees last January 18 as part of a year-long celebration. The event entitled “Phinma honors its own” recognized men and women within Phinma, who on their own time, exemplified the company’s mission of making Filipino lives better. Tokens were given to employees including those who work …

By Riza Lozada Better relations with China and the recov­ery of the country’s stainless industry, along with the production cutback in some nickel ore producing regions present an opportunity for the lo­cal nickel ore mining indus­try to cash in on improved nickel ore prices in the world markets this 2017, listed firm Nickel Asia Corp. said.

Robinsons Retail Hold­ings Inc.’s (RRHI) reported its net income increased by 11.1 percent to P3.3 billion for the first nine month of last year from P2.97 billion a year ago.