Companies

AC Energy Holdings Inc., the power unit of Ayala Corp., has scrapped plans to put up a solar project in Sta. Cruz, Davao del Sur province, following a stockholders’ vote.

Listed mass-housing developer 8990 Holdings Inc. continued to book double-digit growth in earnings on the back of strong sales and increased construction capacity in the first nine months of the year. 

By Riza Lozada  Diverse conglomerate of tycoon George Ty, GT Capital Holdings Inc. (GT Capital), posted a 32 percent growth in profit for the first nine months driven by strong sales of Toyota car brands and strong real estate earnings. Consolidated net income rose to P8.4 billion from P6.3 billion a year ago. GT Capital’s consolidated revenue grew 10 percent …

By Riza Lozada JG Summit Holdings Inc. of magnate John Gokongwei posted a core net profit excluding non-recurring items of P20.69 billion for three quarters ending September, a 39.2 percent increase from P14.86 billion a year ago. The main drivers of growth were Cebu Air Inc. (CEB) and JG Petrochemicals Corp (JGPC), the company said in a report. Net income …

Lucio Tan Group Inc. (LTG) reported that its attributable net income for the first nine months of 2015 reached P4.71 billion, 88 percent more than the P2.5 billion profit a year ago.

By Riza Lozada Infrastructure and utilities holding firm Metro Pacific Investments Corporation (MPIC) expressed confidence of hitting its target of P10 billion in core earnings after the conglomerate reported posting P8.2 billion in consolidated net income in the year until September reflecting a 28 percent profit hike from a year ago, MPIC chairman Manuel V. Pangilinan said. MPIC attributed the …

Manila Water, the water service concessionaire for the Manila East Zone, has advised its customers to be vigilant against water meter thieves especially those customers whose water meters are located at a distance from their residences. 

Stock investors are taking caution amid indications of a likely decision of the US Federal Reserve (the Fed) to raise interest rates amid a steadying US economy.

San Miguel Pure Foods Co. Inc. (SMPFC) booked a 7-percent surge in profit in the first nine months of the year, boosting expectations it would sustain growth momentum during the last quarter amid holiday spending. 

By Riza Lozada Housing firm 8990 Holdings Inc. has signed a deal to sell P1 billion in receivables to the thrift-bank arm of the Ayala-led Bank of the Philippine Islands (BPI), in a move that would free up new capital for the mass-housing developer.