Corporate
SM Supermalls breaks foot traffic record, outpaces GFA growth
SM Supermalls hit an all-time high in average daily foot traffic in 2024, reaching 5.2 million visitors—a 6 percent increase from 4.9 million in 2023.
Converge earns third consecutive Ookla Speedtest award for fastest fixed network
Converge ICT Solutions, Inc. has solidified its position as the country's premier internet provider, earning its third consecutive Ookla Speedtest Award for the Fastest Fixed Network. The recognition highlights the company’s unwavering commitment to excellence in delivering high-speed, reliable internet services to Filipinos nationwide.
Ayala Land Hospitality investing $500M to expand hotel portfolio by 2030
Ayala Land Hospitality Corp., a newly-rebranded unit of Ayala Land Inc., is set to invest approximately USD500 million through 2030 to double its hotel and resort room capacity. Formerly known as Ayala Land Hotels and Resorts, the company plans to increase its room keys from 4,000 to 7,500 as part of its strategic expansion in anticipation of a tourism surge in the Philippines.
Shakey’s Pizza plans 20 new branches for 2025 expansion
Shakey’s Pizza Ventures Inc. is set to open around 20 new branches this year, with half of these to be franchised and the other half company-owned. This marks a continuation of the company’s growth strategy, following the addition of 20 branches in 2024, according to company president Vicente Gregorio.
Court upholds CDO vs 1UP Time for unauthorized investment solicitation
The Court of Appeals has upheld the Securities and Exchange Commission (SEC) cease-and-desist order (CDO) against Superbreakthrough Enterprises Corp., operating as 1UP Time, for illegally soliciting investments from the public. In a ruling on 11 February 2025, the Fifth Division of the appellate court rejected the company’s petition and confirmed the SEC’s decision making the CDO permanent.
