Companies

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. 

By Riza Lozada  Flagship company Aboitiz Equity Ventures Inc. (AEV) reported a consolidated net income of P11.9 billion until September, 17 percent lower from a year ago, with non-listed food subsidiary Pilmico Foods Corp. (Pilmico) as a bright spot, growing by 46 percent and contributing P1.4 billion in income.

Philex Petroleum Corp. reported a consolidated net loss of P118.1 million for the nine-month period ending September, which was lower than the P376.9 million in losses a year ago, to reflect the impact of low crude oil prices on Asian fuel companies.

By Luis Leoncio Property developer 8990 Holdings Inc. will soon offer homeowners in its subdivisions in General Trias, Cavite, the option of prepaid electricity service through the Manila Electric Co. (Meralco).

East West Banking Corp. (EastWest) has secured the approval of the Securities and Exchange Commission (SEC) for a proposed joint-venture insurance business with Belgian firm Aegas Insurance International N.V.

By Riza Lozada The Philippine Stock Exchange Inc. (PSE) said it would rather have no extended holidays during the Asia-Pacific Economic Cooperation (Apec) forum that the country will host next month, since the long layoff may affect the current uptrend in the bourse.

Ayala Land Inc. (ALI) recently unveiled plans for a new commercial, mixed-use development that will transform the entrance of Ayala Center Makati into a modern gateway, with a first-of-its-kind intermodal transport facility designed especially for the commuting public. 

By Riza Lozada Metro Pacific Investment Corp. (MPIC) acquired 84,012 common shares in Indra Philippines, Inc. (Indra) from the Manila Electric Company (MERALCO) for P365.525 million.Meralco reported to the stock exchange it completed the sale to MPIC noting “the said sale represents 24.95 percent of the outstanding capital stock of Indra and reduces Meralco’s stake therein to 24.95 percent.”The Board of …

Pension fund Government Service Insurance System (GSIS) sees huge opportunities from record foreign outflows.