Companies

By Riza Lozada Telecommunications giant Globe Telecom seeks to raise P1 billion from the issuance of 20 million non-voting preferred shares, the proceeds for which will be used to fund its capital expenditures.

The renewable energy arm of the Aboitiz Power Corp. has secured fresh loans worth up to P3.7 billion to fund the setting up of a solar power plant in San Carlos City, Negros Occidental.

The public should exercise caution in dealing with individuals who are not licensed to solicit funds for stock market investments, the Philippine Stock Exchange Inc. (PSE) warned in an advisory.

Pilipinas Shell Petroleum Corp. will likely hold its long-delayed initial public offering (IPO) after the national elections next year, Shell Companies in the Philippines country chairman Edgar Chua said.

Mass-housing developer 8990 Holdings Inc. is in talks with a listed Singaporean company to form a joint venture to build up to 100,000 housing units in Tanzania, the largest of the East African countries.

By Riza Lozada Cosco Capital Inc., the retail holding firm of Lucio Co, reported a net income of P3.01 billion for the first nine months representing an 18 percent improvement from P2.55 billion profit a year ago.

By Riza Lozada Restaurant chain operator Max’s Group Inc. (MGI) signed a development agreement with De Borja Inc. to build at least three Max’s Restaurants in San Diego, California within the next five years.

By Riza Lozada Century Properties Group Inc. has secured a loan worth P2.2 billion to pave the way for a joint partnership with the Japanese giant Mitsubishi Corpo to build Forbes Media Tower in Makati.

The Araneta Center in Cubao, Quezon City, is getting another facelift to make it a garden city, based on a new redevelopment plan for the business district.

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.