Globe Telecom Inc. posted core net income of ₱19.5Bn in 2020, a decline of 13% compared to its earnings in 2019. The decline was mainly attributed to the effects of the pandemic which battered revenues across all lines of business except the Home broadband business, which achieved double-digit growth. The company invested a total of
In a press-release disclosure to the Philippine Stock Exchange on January 20, 2021, Bank of the Philippine Islands (BPI) said that it is absorbing its wholly owned subsidiary BPI Family Savings Bank (BFSB). BPI would be the surviving entity in the merger that is expected to be completed within the year. BPI Family Savings Bank
East West Bank finally filed a disclosure regarding their missing branch manager and the deposits of two of their customers. The disclosure, posted on January 18, 2021, was in response to the Business Mirror Online Edition news entitled “EastWest shares to track probe of missing funds”. The Business Mirror report was a follow up to
In a press statement posted on the PSE Edge website on January 11, 2021, Globe Telecom, inc (GLO) disclosed that Globe Fintech Innovations, Inc., its financial technology arm and operator of the mobile wallet GCash, has attracted fresh capital investment from Bow Wave Capital Management. Below is Globe Telecom’s press release on the matter. “GCash
GMA Network, Inc.’s (GMA7’s) disclosure on January 7, 2021 as posted on the PSE Edge: “GMA Network allocates over P20 billion for CAPEX, content cost for 2021-2023: Goes all-out on content production, digital TV expansion Quezon City, Philippines – GMA Network, Inc., the Philippines’ largest TV network, is going all-out as it earmarks more than
In its disclosure to the Philippine Stock Exchange on January 7, 2021, Meralco (ticker symbol: MER) said PowerGen Corporation (MGen) acquired additional 20 percent equity in PowerSource First Bulacan Solar, Inc. (PowerSource) through its wholly-owned subsidiary MGen Renewable Energy, Inc. The transaction increases MGen’s’s indirect holdings to 60%; MGen is a 100% subsidiary of Meralco.
Meralco disclosed on December 28, 2020 the substantial acquisition of Global Business Power Corporation by Meralco Powergen Corporation. The disclosure was posted on the PSE Edge website as follows: “MERALCO PowerGen Corp. (“MGEN”), a wholly-owned power generation subsidiary of Manila Electric Company (“Meralco”) entered into share purchase agreements with Beacon Powergen Holding Inc. (“BPHI”), a