Latest Market News

Stay updated with the latest news about dividends, earnings, and corporate actions in the Philippine stock market.

SP New Energy unit seals deals for MTerra solar project

SP New Energy Corp. has signed agreements for its MTerra solar project, which includes a significant solar farm and battery energy storage system. This project is expected to contribute to the company's renewable energy capacity, potentially enhancing its market position and shareholder returns.

  • Agreements signed for the MTerra solar project in Central Luzon.
  • Project includes a 3,500 MWp solar farm and 4,500 MWh battery storage.
  • First phase expected to go online by 2026.
Read more: manilatimes
CLI

Cebu Landmasters breaks ground on The Wave Towers

Cebu Landmasters has commenced construction on The Wave Towers, a P9.2-billion project in partnership with Japan's NTT Urban Development. This development is expected to enhance the company's portfolio and could lead to increased shareholder value through growth in the property sector.

  • Groundbreaking for The Wave Towers project valued at P9.2 billion.
  • Collaboration with Japan's NTT Urban Development.
  • First Japanese-inspired residential community in Cebu.
Read more: manilatimes
property
AB

A Brown unit buys stake in Altenergy wind projects

A Brown Co. Inc. announced that its subsidiary will acquire a 40% stake in Alternergy's wind power projects for P2.4 billion, marking a significant investment in renewable energy. This acquisition aligns with A Brown's strategy to expand its green energy initiatives, potentially enhancing its long-term shareholder returns.

  • Acquisition valued at P2.4 billion for a 40% stake in wind projects.
  • Investment supports A Brown's renewable energy portfolio expansion.
  • Projects include 128-MW and 64-MW wind facilities.
Read more: manilatimes
FGEN

First Gen-Prime Infra deal cleared by PCC

First Gen Corp. has received clearance from the Philippine Competition Commission for Prime Infrastructure's acquisition of a majority stake in its natural gas business, which includes several power plants. This strategic move is expected to enhance First Gen's renewable energy portfolio and could positively impact shareholder value.

  • PCC cleared Prime Infra's acquisition of a 60% stake in First Gen's natural gas business.
  • Transaction valued at P50 billion.
  • Includes control of multiple power plants and an LNG terminal.
Read more: manilatimes
SMC

San Miguel share swap, issuance raises P48.86B

San Miguel Corp. has successfully raised P48.86 billion from a share swap and public offering of preferred shares, which will be used to refinance loans and fund infrastructure projects. This move enhances the company's financial flexibility and supports its growth strategy, potentially benefiting shareholders through improved returns.

  • Raised P48.86 billion through share swap and public offering.
  • Funds will refinance short-term loans and support infrastructure projects.
  • Shares rose by 0.24% amid a broader market decline.
Read more: manilatimes
holding firms
BPI

Weakening investor sentiment may weigh on PHL banks’ performance

Philippine banks may face challenges due to weakening investor sentiment and slower loan demand, which could impact their performance. However, efforts to grow consumer portfolios may help mitigate some of these pressures.

  • Weakening business sentiment could impact Philippine banks' performance.
  • Slower loan demand among corporates is a concern.
  • Banks are focusing on growing consumer portfolios to support profit.
Read more: bworldonline
BDOPNBfinancials
AB

A Brown unit buys stake in Altenergy wind projects

A Brown Co. Inc. has announced a P2.4 billion investment to acquire a 40% stake in Alternergy's wind power projects, marking a significant step in expanding its renewable energy portfolio. This investment aligns with A Brown's strategy to transition away from coal and invest in sustainable energy solutions.

  • Acquisition of a 40% stake in Alternergy's wind projects for P2.4 billion.
  • Investment supports A Brown's shift towards renewable energy.
  • Projects include the 128-MW Tanay and 64-MW Alabat wind facilities.
Read more: manilatimes
CLI

Cebu Landmasters breaks ground on The Wave Towers

Cebu Landmasters has commenced construction on its P9.2 billion The Wave Towers project, marking a significant milestone in the company's expansion strategy. This Japanese-inspired residential community aims to enhance Cebu's real estate landscape while providing investors with new opportunities.

  • Construction of The Wave Towers has begun with a budget of P9.2 billion.
  • The project includes a 40-story tower with 709 units.
  • Partnership with Japan's NTT Urban Development Asia.
Read more: manilatimes,business
property

First Gen-Prime Infra deal cleared by PCC

First Gen Corporation's sale of a 60% stake in its natural gas business to Prime Infrastructure has been cleared by the Philippine Competition Commission, paving the way for Prime Infra to control significant power plants. This acquisition aligns with First Gen's strategy to expand its renewable energy portfolio.

  • PCC cleared Prime Infra's acquisition of a 60% stake in First Gen's natural gas business.
  • Transaction valued at P50 billion.
  • Includes control of multiple power plants and an LNG terminal.
Read more: manilatimes
holding firms
SMC

San Miguel share swap, issuance raises P48.86B

San Miguel Corporation has successfully raised P48.86 billion through a share swap and public offering of preferred shares, which will be used to refinance loans and fund infrastructure projects. This move enhances investor access to the company's growth potential while supporting its ongoing infrastructure commitments.

  • P48.86 billion raised through share swap and public offering.
  • Funds will refinance short-term loans and support infrastructure projects.
  • San Miguel's shares rose amid a broader market decline.
Read more: manilatimes,business
holding firms
BPI

Weakening investor sentiment may weigh on PHL banks’ performance

Philippine banks may face challenges due to weakening investor sentiment and slower loan demand, potentially impacting their profitability and dividend payouts. However, efforts to grow consumer portfolios could mitigate some of these pressures.

  • Slower loan demand may impact bank profitability.
  • Weakening investor sentiment could affect dividends.
  • Banks are focusing on growing consumer portfolios.
Read more: bworldonline
BDOUBPfinancials

GMA and Viva Records establish joint venture for music-related businesses

GMA Network and Viva Records Corp. have formed a joint venture to engage in music production and related activities, potentially expanding their revenue streams. This collaboration may enhance profitability and future dividend opportunities.

  • Joint venture focuses on music production and related businesses.
  • Collaboration aims to expand revenue streams.
  • Potential for increased profitability and dividends.
Read more: bworldonline
services
MEG

PH1 World optimistic to hit full-year 2024 sales in October

PH1 World Developers, the real estate arm of Megawide, expects to exceed its full-year sales target for 2024 by the end of October, following significant revenue growth. This positive performance may enhance shareholder returns and future dividend potential.

  • Sales more than doubled in the first nine months of 2024.
  • Optimistic to exceed full-year sales target by October.
  • Strong performance may lead to increased dividends.
Read more: gmanetwork
property

Toyota Financial generates P5B from maiden bond offer

Toyota Financial Services Philippines Corp. raised P5 billion from its first bond issuance, indicating strong market confidence. The funds raised may bolster its financial stability and support future dividend distributions.

  • Raised P5 billion from maiden bond issuance.
  • Oversubscription option exercised due to strong demand.
  • Funds will support financial stability and potential dividends.
Read more: gmanetwork
financials
SMC

San Miguel raises P48.86B from share swap and issuance

San Miguel Corp. successfully raised P48.86 billion through a preferred share exchange offer and public offer, enhancing its financial position. This capital influx may support future dividend payouts and corporate growth initiatives.

  • Raised P48.86 billion through preferred share exchange and public offer.
  • Shares listed on the Philippine Stock Exchange.
  • Funds may enhance future dividend potential.
Read more: business
holding firms
SPNEC

SB Capital funding $6B worth of renewable energy projects

Security Bank Capital is set to finance $6 billion in renewable energy projects, indicating a strong commitment to sustainable investments. This move could enhance the financial landscape for companies involved, potentially benefiting shareholders through improved returns.

  • $6 billion allocated for renewable energy projects.
  • Strong commitment to sustainable investments.
  • Potential for improved returns for involved companies.
Read more: business
financials
MER

Meralco partners with US firm to modernize grid

Manila Electric Co. has partnered with Itron, Inc. to enhance its smart grid capabilities, which is expected to improve operational efficiency and customer service. This modernization could lead to better financial performance and potential dividends for shareholders.

  • Partnership with Itron for smart grid modernization.
  • Aims to improve operational efficiency and customer service.
  • Potential for enhanced financial performance and dividends.
Read more: manilatimes
services
SPNEC

Solar Philippines transfers 10.83 billion SPNEC shares to Leviste

Solar Philippines Power Project Holdings has transferred a significant number of shares of SP New Energy Corp. to its founder through a special block sale, which may impact shareholder structure and future dividend distributions. This internal restructuring is worth P6.32 billion.

  • Transferred 10.83 billion shares to founder Leandro Leviste.
  • Transaction valued at P6.32 billion.
  • Internal restructuring may influence future dividends.
Read more: bworldonline
industrial
MWIDE

PH1 World optimistic to hit full-year 2024 sales in October

PH1 World Developers Inc., the real estate arm of Megawide Construction Corporation, anticipates exceeding its full-year sales target for 2024 by the end of October, following a significant revenue increase in the first nine months. This growth positions the company favorably for potential dividends.

  • Expecting to breach full-year sales target by October.
  • Revenue more than doubled in the first nine months.
  • Strong performance may enhance dividend potential.
Read more: gmanetwork
property

Toyota Financial generates P5B from maiden bond offer

Toyota Financial Services Philippines Corp. has successfully raised P5.0 billion from its first bond issuance, reflecting strong market demand and investor confidence. This capital will support its automotive financing and leasing operations, potentially enhancing shareholder returns.

  • Raised P5.0 billion from bond issuance.
  • Strong investor appetite led to oversubscription.
  • Funds will support automotive financing operations.
Read more: gmanetwork
financials

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