MANILA, Philippines — Damosa Land Inc.’s (DLI) premier agro-industrial hub Anflo Industrial Estate Corp. (AIEC) eyes more investments as large international contingents flock to Davao City. Well-known foreign manufacturers have chosen to expand their Philippine operations in AIEC’s 63-hectare Philippine Economic Zone Authority-approved ecozone. “After seeing what indu...
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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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ArthaLand Corporation (ALCO) recently signed an agreement with Mitsubishi Estate Company, Ltd. (MEC), which is one of the largest real estate developers in Japan. This agreement will be Mitsubishi Estate’s first venture in the Philippines. Mitsubishi Estate is acquiring from ALCO a 40% stake in ALCO’s ownership of Savya Land Development Corporation, which is developing the Savya...
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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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ILOILO -- San Miguel Brewery Inc. (SMB) finally broke ground on its new and third brewing facility in the Visayas that will rise in a 40-hectare property in Barangay Gua-an, Leganes, Iloilo. SMB chairman and chief operating officer of San Miguel Corporation Ramon Ang led the groundbreaking ceremony, together with Senator Franklin Drilon, Iloilo Governor Arthur Defensor Jr., Leganes Mayor Vicent...
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