Business

Listed agribusiness giant Roxas Holdings Inc. (RHI) reported consolidated net income after tax amounting to P19 million for fiscal year ending September from P615 million a year ago. Net earnings per share was at P0.01 in 2015, and P0.67 per share in 2014. 

By Riza Lozada Listed Alliance Select Foods International Inc. (ASFII) will pursue the use of the P1 billion in proceeds from its fully-subscribed stocks right offer for working capital, debt servicing and capital expenditures, despite a boardroom dispute that resulted in the court-ordered postponement in the companys’ annual meeting, ASFII said in a report to the bourse. 

By Riza Lozada  Chinabank is infusing P2 billion into its saving bank unit, China Savings Bank Inc. (CSBI), to comply with the Bangko Sentral Ng Pilipinas (BSP)- mandated capital infusion prior to giving its final approval to the merger between CSBI and Planters Development Bank (PDB). 

Union Bank of the Philippines (UBP) will fund P1 billion of the Gaisano group’s Metro Retail Stores Group Inc.’s (MRSGI) expansion plan in Metro Manila. 

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.

By Luis Leoncio President Aquino signed into law on December 8 the Tax Incentives and Management Act (Timta), which was much anticipated by the business sector, as it proposes to streamline the granting of government tax perks to business projects. 

By Jerry Maglunog Effective January 1, 2017, all 55 million automated teller machines (ATMs) cards and 8 million credit cards must shift to the Europay, MasterCard, Visa (EMV) standard, which basically means that the magnetic strip used in earlier credit cards will soon become history. However, as of now, no more than 30 percent of all ATMs and credit cards …