8990 Holdings, Inc. has paid the P27.11 million fine imposed by the Philippine Competition Commission (PCC) after its subsidiary Urban Deca Homes Manila Condominium Corporation was charged with abuse of dominance. Marking the country’s first abuse of dominance case, Urban Deca Homes was found to have imposed its in-house internet service provider (ISP) Fiber to Deca Homes on unit owners a...
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MANILA, Philippines — Phinma Energy Corp., to be renamed AC Energy Philippines Inc., is eyeing to borrow up to P15 billion to fund investments. In a disclosure to the Philippine Stock Exchange yesterday, the board of Phinma Energy approved the availment of term loan facilities for up to P15 billion. The borrowing will be used “to fund new investments,” Phinma Energy preside...
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MANILA, Philippines — More than 1.5 million pensioners of the Social Security System (SSS) may now borrow up to P200,000 from the state pension fund under its Enhanced Pension Loan Program (PLP), a top official said yesterday. In a statement, SSS president and chief executive officer Aurora Ignacio said they launched the enhanced PLP pursuant to Social Security Commission (SSC) Resolution...
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ARTHALAND Corp. has subscribed to P12.5 million worth of shares in its newly incorporated joint venture firm with Japanese partner Mitsubishi Estate Co., Ltd. In a disclosure to the stock exchange on Tuesday, the niche property developer said it incorporated Kashtha Holdings, Inc., after which it subscribed to 12.5 million shares worth P1 each. Arthaland earlier disclosed that its joint vent...
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The proposed Corporate Income Tax and Incentives Rationalization Act (Citira) will continue to give away tax breaks to priority industries that will generate more jobs and create additional value-added in the economy, the Department of Finance (DOF) said Monday. “We cannot dispute that the many industries receiving incentives have made valuable contributions to the economy and to the Fili...
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ALLHOME Corp. met investor expectations at its market debut on Thursday, with its shares gaining 0.52% at the end of trading. The one-stop-shop home improvement store of real estate tycoon Manuel B. Villar, Jr., dubbed by Forbes this year as the country’s richest man, raised P14.9 billion after exercising its over-allotment option. Its shares closed at P11.56 apiece. It actua...
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