SEC revokes broker’s license over fraudulent practices
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
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.
AIIB lends $300M to ICTSI for Philippine port projects
The Asian Infrastructure Investment Bank (AIIB) has approved a USD300 million senior unsecured corporate loan to International Container Terminal Services Inc. (ICTSI), marking its first non-sovereign-backed deal in the Philippines and signaling rising investor confidence in the country’s logistics infrastructure.
SC rejects Senator Dela Rosa’s TRO plea
The Supreme Court, by a vote of 9-5, with one abstention, denied Senator Ronald “Bato” Dela Rosa’s plea for a temporary restraining order (TRO). Senator dela Rosa earlier sought to block the Department of Interior and Local Government, Department of Justice, Philippine National Police, Armed Forces, and other agencies from arresting him under any International Criminal Court warrant, Interpol red notice, or foreign judicial action without a Philippine court order. The ruling addresses only interim relief; main case issues remain pending, with full opinions to be released May 25.
Alsons Power turns Sarangani diesel plant into 98.7 MW solar facility
Alsons Power has announced a major shift toward green energy by converting its 55-megawatt (MW) diesel power plant in Alabel, Sarangani, into a 98.7-megawatt solar power facility.
