THE Philippine Competition Commission (PCC) slapped a P27.11-million fine against Urban Deca Homes Manila Condominium Corp. and parent company 8990 Holdings, Inc., and ordered them to stop imposing a sole internet service provider (ISP) on unit owners at its nine condominium projects around the country. This marked the closure of the first abuse of dominance case in the country, the competition...
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CEBU, Philippines — Cebu Holdings Inc., (CHI), the developer of Cebu I.T. Park and Cebu Business Park is moving to address the rising demand for shared living spaces in Cebu. The Ayala-led publicly-listed developer announced the construction of its latest project called “The Flats” to meet the growing demand for shared living spaces in the city. The project, which caters to...
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Philippine businessman Manuel Pangilinan, otherwise known as MVP in the local business community, who ran into trouble with a borrowing binge two decades ago, is pursuing the biggest-ever Philippine initial public offering (IPO) in order to reduce the risk of a repeat. Pangilinan is attempting to pull off a giant share sale for Metro Pacific Investments Corp.’s (MPIC) hospital unit, one t...
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MANILA, Philippines — AC Energy Inc., the power generation business of the Ayala Group, is investing $20 million to build a one-gigawatt (GW) portfolio of solar projects across Asia. The company has formed a joint venture with UPC Solar Asia Pacific—the solar platform of UPC Renewables—to expand their reach in the region. AC Energy said the $20 million investment would be i...
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MANILA, Philippines — The Philippine Competition Commission has charged Urban Deca Homes Manila Condominium Corporation and its parent 8990 Holdings, Inc. for abuse of dominance, marking the end of a months-long case against the mass-housing leader and the country's first abuse of dominance case. The case dates back to March 27 when the PCC filed a "statement of objec...
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The Securities and Exchange Commission has ordered Scentko World Corp. and its parent firm Brendahl Cruz Holdings Inc. to stop what the corporate regulator deemed as illegal solicitation of investments in the guise of marketing perfume and cosmetics. Under a “buy and earn” investment scheme, Scentkoworld entices the public to buy perfume and beauty products in exchange for &ldq...
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