Meralco 2020 Net Income: In a press-release disclosure to the Philippine Stock Exchange on March 1, 2021, Manila Electric Company or Meralco (ticker symbol: MER) said that the company posted 2020 Consolidated Core Net Income (CCNI) of P21.7Bn, 9% lower than the P23.8Bn CCNI in 2019. Meralco 2020 Net Income Financial Highlights Financial highlights as
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
Filinvest Land, Inc. (ticker symbol: FLI) is jumping into the Real Estate Investment Trust (REIT) bandwagon. However, instead of creating a new company, it is transforming its wholly-owned subsidiary Cyberzone Properties Inc. into a REIT company. The property portfolio for the REIT company will include buildings leased out to traditional companies as well as business
Cirtek Holdings Philippines Corporation Sanctioned by the Philippine Stock Exchange On January 15, 2021, the Philippine Stock Exchange meted out penalties to Cirtek Holdings Philippines Corporation for, among other violations, inaccurate or non-disclosure of the changes in the ownership of its director and principal officers. Bilyonaryo.com.ph, an online business news outlet, gave some details on
Unusual Price Movements in the Philippine Stock Market This week, we are seeing a barrage of corporate disclosures on unusual price movements in the stock market. On Monday, January 18, 2021, the Capital Markets Integrity Corporation (CIMC) issued unusual-price-movement inquiries to Pacifica Holdings, Inc. (ticker symbol: PA), Oriental Petroleum and Minerals Corporation (OPM and OPMB),
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.