LT Group reports 14% rise in net income in 2024
The LT Group Inc., the holding company led by tycoon Lucio Tan, reported a 14 percent increase in attributable net income in 2024 reaching P28.92 billion, up from P25.42 billion in 2023. The performance was driven by strong contributions from its tobacco, banking, and alcohol segments.
MPIC rules out resubmitting MRT3 proposal due fare hike delays
Metro Pacific Investments Corp. (MPIC) has decided against resubmitting its unsolicited bid to rehabilitate, operate, and maintain the MRT3 system, citing the lack of government support for fare increases. MPIC chairman Manuel V. Pangilinan explained the absence of approved tariffs makes it unlikely for the business to move forward with the proposal, saying the current situation is “difficult.”
T-bill yields mixed at auction
Treasury bill yields were mixed at Monday’s auction, with shorter-dated debt papers softening following the Bangko Sentral ng Pilipinas' decision to reduce banks’ reserve requirement ratio, effective later this month.
Security Bank posts record P11.2B net income in 2024
Security Bank Corp., the country 8th largest lender by assets, posted a record-high net income of PHP11.2 billion in 2024, a 23 percent year-on-year growth, driven by improve lending and fee-based income.
DA inspects misdeclared frozen fish
Agriculture Secretary Francisco P. Tiu Laurel Jr. led an inspection on Monday of one-and-a-half dozen container vans suspected of being loaded with hundreds of tons of frozen fish, but was declared by importers as processed plant-based commodities. A earlier spot check conducted by the Department of Agriculture's Bureau of Plant Industry and the Bureau of Customs on two of the 19 40-foot container vans revealed boxes of frozen mackerels locally known as tamban, and frozen round scad-locally known as galunggong rather than the frozen fried taro sticks, sweet potato balls, and assorted food products from China, as declared in the shipping manifest.
