A listed firm expressed interest to bid for the 116 megawatt Subic diesel-fired power plant project, the sole generating facility at the Subic free port.
In its disclosure to the Philippine Stock Exchange (PSE), Pacifica Inc. which is controlled by port operator Michael Romero said its board has approved the plan to “bid or submit a [...]

The Metro Pacific Group is confident that it has won the bidding for the concession to operate the country’s longest expressway, the Subic-Clark-Tarlac Expressway (SCTEx). Metro Pacific Tollways Corp. (MPTC) believed it virtually clinched the hotly contested concession after it has submitted an “improved” bid package to the government. “We have submitted a final improved [...]

Outsource2Philippines (O2P), a firm that provides advisory services to the business process outsourcing (BPO) industry was reported to be acquired by TeamAsia, an award-winning strategic marketing communications firm which is based in the Philippines.
TeamAsia managing director Michael Alan Hamlin said on their acquisition, “We’ve identified a number of exciting opportunities for O2P that we will [...]

The North Belton Communities, a mixed-use township development in Quezon City owned by Lucio Tan’s group, was bought tycoon Henry Sy’s SM Prime Holding, Inc. A memorandum of agreement was recently signed between the Lucio Tan-led Eton Properties Philippines, Inc., Philippine National Bank (PNB) and SM Prime.
The signed MOA involves the sale of a portion [...]

Philippine top company and business conglomerate San Miguel Corporation now plans to acquire a significant stake in Petron Corp. The announcement of interest in the oil refiner immediately sent Petron’s share to its highest since November 2007.
San Miguel has an option to acquire 40% of the Sea Refinery Corp., a firm which owns about 50.1% [...]

The Philippine National Bank (PNB) signed up an agreement with the Bank of China (BOC) in handling remittances of Italy-based Chinese nationals to their homeland. The Lucio Tan-led PNB’s agreement with the state-owned BOC expands the market coverage of unit PNB Italy SpA which was established to facilitate remittances of thousands of Filipinos in Italy.
PNB [...]

If food and beverage giant San Miguel Corporation (SMC), would have its way, it will redevelop the Diosdado Macapagal International Airport (DMIA), as it being geared to become the country’s premier international gateway.
San Miguel, in its disclosure to the Philippine Stock Exchange (PSE), that it is evaluating the viability of investing in the redevelopment of [...]

The country’s biggest oil refiner, Petron Corp., may soon become part of the country’s largest food-and-beverage company, San Miguel Corp. (SMC). The company said it will exercise its option within the year to buy 51 percent of Petron, and at the same time make a tender offer to minority shareholders.
Tender offer allows the minority shareholders [...]

International Container Terminal Services, Inc. (ICTSI) is venturing into the overseas bond market. The port operator will be seen in the next few days offering as much as $250 million worth of 10-year bonds. ICTSI would be the first non-bank Philippine corporate issuer to offer the overseas bond market.

Local banks have agreed to help raise and lend the Panay Energy Development Corp. (PEDC) P14-billion for its construction of a 164-megawatt coal-fired power plant in La Paz, Iloilo City. The Panay Energy is owned by George Ty’s Metrobank group, and the loans were arranged by First Metro Investment Corp. (FMIC), the investment banking arm [...]

Philip Morris International, Inc. (PMPI) joined forces with Philippine a cigarette company forming one big corporation that will control about 90 percent of the country’s lucrative cigarette market. The US-based tobacco giant formed a new company with local rival Fortune Tobacco Corp. (FTC), which is owned by Chinese-Filipino tycoon Lucio Tan.

The Metropolitan Bank and Trust Company (Metrobank) has awarded the Asian Terminals Inc. (ATI) credit line worth P250 million. The ATI said the proceeds of the funds would be used to fund its projects in the next five years.
ATI, in its disclosure to the Philippine Stock Exchange (PSE), said it signed an agreement with Metrobank [...]

UST Global inaugurated recently its new offshore development center in McKinley Hills, Taguig City. The new center is part of the company’s aggressive expansion plans in Asia, and is targeting to haul in $32 million revenues in its first year and catering to 2,000 clients in North America and Europe.

The Government Service Insurance System (GSIS) has entered into a conditional sale agreement with the Hong Kong-based First Pacific Company (FPC), which is represented by its local affiliate Two Rivers Pacific Holdings Corporation. The deal will see First Pacific buying approximately 5.9 percent interests of GSIS in Philex Mining Corporation for P6.02 billion.

The Philippine National Bank (PNB) and Allied Banking Corporation, both controlled by tycoon Lucio Tan, will continue with its scheduled merger which will happen in the second half of 2010, said PNB president Omar Byron Mier.
The merging of the two banks will create the fourth largest privately owned bank in the Philippines, behind the three [...]

A Singaporean firm is planning to invest $7.5 million in a local gaming company. Straitwey, a Singapore-registered company who is a wholly owned subsidiary of the Japan Gaming Development Organization (JGDO) and is the investment entity used by JGDO to invest into projects within the gaming industry, is investing the $7.6 million in the primary [...]

Filinvest Land Inc. plans to increase its stake in two property firms. The property unit of business tycoon Andrew Gotianun, in its disclosure to the Philippine Stock Exchange, said that its board approved the purchase of the 40% stake of Africa-Israel Properties Philippines Inc.  in Cyberzone Properties Inc.  (CPI) and the 40% interest of Africa-Israel [...]

The Terminator will visit the Philippines next year, but he won’t be here to promote nor shoot any film. Instead, the California Governor will be leading a group of US business delegation who will visit the country in February as part of the government’s marketing efforts to expand the market of Philippine exports and industries.

Kodak, the name that is almost synonymous with pictures and images, has amassed more than 1,000 digital-imaging patents, being one of the pioneers in this industry. Almost all of today’s digital cameras rely on that technology.

It could have been the biggest fight of the new millennium, but because of some disagreements, it was called off. The Pacquiao-Mayweather dream fight will no longer push through as Bob Arum effectively closed the door on Floyd Mayweather Jr. on Christmas Eve.
The move opens the door for Paul Malignaggi, Shane Mosley and practically anyone [...]