Corporate

Cebu Pacific, the budget carrier brand of the Gokongwei Group’, saw net income in the first quarter drop 78 percent to P466 million, dragged down by higher fleet and financing costs related to its fleet and route expansion.

ACEN Corp., the green energy arm of the Ayala Group, said its wholly-owned unit, ACEN Australia, has secured access rights to the Central West-Orana Renewable Energy Zone (CWO REZ) for projects in New South Wales, which includes power generation from solar and wind energy.

The Investment & Capital Corporation of the Philippines (ICCP) has hailed the successful initial public offering (IPO) of Cebu-based Top Line Business Development Corp., calling it a milestone for regional business growth and capital markets in the Philippines.

The Jollibee Group Foundation (JGF), the social development arm of the Jollibee Group, is celebrating its 20th anniversary this year, marking two decades of forging high-impact partnerships and driving corporate-led solutions to hunger and food insecurity across the Philippines.

MREIT Inc., the real estate investment trust (REIT) of property giant Megaworld Corp., reported a 25 percent increase in its first-quarter net income to ₱932 million, from only ₱742 million in the same period last year, driven by strategic acquisitions and sustained rental growth.