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Vitarich board oks breeder feed supply renewal 

Corporate Context.ph Context.ph -
Vitarich Corp. said its board has approved the renewal of contracts to buy from  Luzon Agriventure Inc. (LAVI), a related party, feeds to raise breeder chickens for the production of hatching eggs. 

First Gen reports 12% drop in 2024 net income to USD245M

Corporate Context.ph Context.ph -
First Gen Corporation, the Lopez Group’s clean and renewable energy provider, reported a 12 percent decline in attributable recurring net income for 2024, amounting to USD245 million (P14.0 billion), compared to USD277 million (P15.4 billion) in 2023. 

DM Wenceslao declares P322.6M cash dividend

Corporate Context.ph Context.ph -
D.M. Wenceslao & Associates, Inc. (DMW), a real estate developer with expertise in reclamation, said its board has declared cash dividends of P0.095 per share, totaling P322.6 million during its meeting on 13 March. This represents a 20 percent increase over last year’s payout. 

Accenture shares drop amid U.S. Govt spending concerns

Corporate Context.ph Context.ph -
Accenture, a U.S.-listed global professional services company offering a wide range of solutions in strategy, consulting, digital, technology, and operations, saw its shares fall on Thursday.

ERC revising time-of-use billing rules to encourage energy efficiency

Energy & Mining Context.ph Context.ph -
The Energy Regulatory Commission (ERC) has announced plans to revisit the time-of-use (TOU) electricity billing mechanism to encourage consumers to become more energy-efficient.
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China’s pig import restrictions have no impact on trade – DA

Agriculture 0
The Department of Agriculture (DA) and Bureau of Animal Industry (BAI) said that China’s restrictions on imports of Philippine pigs, wild boar, and related products do not affect the country’s current trade performance, as the Philippines does not export these items to China at present.

Visayas grid under yellow alert; think tank urges decentralized power setup

Energy & Mining 0
The Visayas grid remained under yellow alert from 4 to 8 p.m. today, marking the eighth day this month the alert has been raised, with red alerts also triggered earlier in May. The National Grid Corporation of the Philippines reported low power reserves: available capacity stood at 2,692 MW against a peak demand of 2,503 MW. The strain stems from multiple long-term plant shutdowns—some inactive since as early as 2021—and 15 plants running below full capacity. Major facilities out of service include two units of Therma Visayas Inc. and a plant owned by Meralco Power Gen Corp., together making up over half of the unavailable supply.

SEC revokes broker’s license over fraudulent practices

Corporate 0
The Securities and Exchange Commission (SEC) has canceled the registration of Mount Peak Securities Inc. as a broker-dealer due to serious violations of securities laws, including fake financial reports, use of dummy accounts, and forged client documents. This development helps protect investors and upholds integrity in the local capital market.

ACEN JV, Ocean Sun sign MOU for floating solar project in Asia

Energy & Mining 0
ACEN-Silverwolf Pte Ltd, a joint venture of ACEN Renewables International and Silverwolf Capital, has signed a non-binding memorandum of understanding with Ocean Sun AS to explore rolling out floating solar technology across key Asian markets. Disclosed recently, the agreement sets the stage for a potential formal partnership focused on building large-scale solar installations on freshwater reservoirs and inland water bodies, pending necessary approvals and final contracts. This collaboration combines ACEN-Silverwolf’s strong regional renewable energy experience with Ocean Sun’s patented, specialized technology designed for efficiency and durability in freshwater settings. The deal is significant as it supports ACEN’s broader goal of reaching 20,000 MW of renewable capacity by 2030 and achieving net-zero emissions by 2050, while advancing cost-effective clean energy solutions across the region.
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