The Market Monitor Minding the Nation's Business

Kia Philippines held a thanksgiving event recently for its dealer principals who helped the brand achieve significant milestones for 2022 and also to celebrate the company’s 4th anniversary as a wholly-owned subsidiary of the Ayala Corporation.  For 2022, Kia Philippines achieved a record-breaking 34% sales increase compared to 2021. This figure is higher than the auto industry’s 26% pace. Also …

What started as a simple question from former DSWD Secretary Erwin Tulfo coupled with a brave resolve to achieve a near-impossible feat, the NCSC has now realized a major breakthrough by cracking the 1 million mark in its senior citizen online registration program. From a measly 31,241 registrants, 74 days since it was officially launched on Nov. 28, 2022 – …

Good news! Thailand Week is coming back again for those who miss the high-quality products and the culture of the land of smiles. Organized by the Department of International Trade Promotion (DITP), Ministry of Commerce in Thailand by the Thai Trade Center in Manila, “Thailand Week” has been the largest Thai product tradeshow in the Philippines for more than a …

For 2023, the Aboitiz Group is powering its Great Transformation to become the Philippines’ first Techglomerate with an allocated capital expenditure (CAPEX) of almost Php 78 billion, together with its partners. This is a 10% increase from the Php 70 billion utilized in 2022. The Aboitiz Group is focused on investing in renewable energy and new businesses for its portfolio …

San Miguel Corporation (SMC) ended 2022 with strong consolidated revenues of ₱1.5 trillion, up 60% from ₱941 billion in 2021 surpassing its 2019 pre-pandemic result of P1.0 trillion.  Consolidated income from operations rose 10% to ₱134.5 billion, driven by the sustained performance of key businesses such as Petron, San Miguel Food and Beverage, San Miguel Packaging, and SMC Infrastructure, as …

BDO Unibank Inc. (BDO) reaffirms its commitment to sustainable development as it continues to support the growth and expansion of clients’ renewable energy projects which the Bank considers as a priority sector in financing.  BDO financed the first renewable energy biomass power plant of Isabela Biomass Energy Corporation (IBEC), a Filipino-owned corporation which uses rice mill waste to generate and …

Bureau of Internal Revenue Commissioner Romeo Lumagui, Jr. led the filing of criminal complaints before the Department of Justice against four “ghost” corporations causing the government to lose an estimated P25.5 billion of taxes. They are in violation of Sections 254, 255, and 267 of the National Internal Revenue Code of 1997, as amended (Tax Code). “We are just getting …

The Securities and Exchange Commission (SEC) has successfully prosecuted a falsification case against officers, directors, and shareholders of a lending company who were found to have submitted falsified documents for registration with the Commission. In a decision dated March 8, 2023, the Pasay Metropolitan Trial Court Branch 47 found nine incorporators and officials of Phil86 Gurunanak Lending and Trading Corp. …

The Securities and Exchange Commission (SEC) is granting corporations and other regulated entities an amnesty on the late and non-filing of certain reportorial requirements. The Commission on March 15 issued SEC Memorandum Circular No. 2, Series of 2023, or the Grant of Amnesty for Non-filing and Late Filing of the General Information Sheet (GIS) and Annual Financial Statement (AFS), and …

Antonio Joseph Javines, the “Wonder Boy” from Ateneo de Manila, did it again. Javines continued his impressive performance in the 2023 Philippine National Shooting Association (PNSA) Trap and Skeet shooting competition at PNSA-PSC Firing Rnage in BuCor Muntinlupa City recently. The 13-year-old Javines, who just came from the International Shooting Sports Federation (ISSF) Olympic Trap Training Camp in Kuwait, finished …