Corporate

Integrated Micro-Electronics Inc. (IMI), a subsidiary of the Ayala Group struggling to make a profit, may be on the cusp of a profitable year after a period of restructuring and streamlining its operations. The company, which has faced considerable financial difficulties, has scaled down its operations, refocusing on its core strength to improve profitability.

ABS-CBN Corp. has sold a significant portion of its Quezon City property to Ayala Land Inc., one of the country’s largest property developers, for P6.24 billion.

Unioil Group of Companies has entered into a strategic partnership with Repsol S.A., marking a significant move in the Philippine lubricants market. Under the agreement, Repsol Downstream Internacional, a subsidiary of the Spanish multinational energy and petrochemical company, acquired a 40 percent stake in Unioil Lubricants Inc. (ULI), the lubricants manufacturing and distribution arm of Unioil.

BCRemit, a Filipino-owned global fintech company, has teamed up with GCash to offer overseas Filipinos (OFs) a more convenient and secure way to send money back home.

Alfamart, the minimart business of the SM Group, is set to expand its network by at least 200 new stores in Luzon in 2025, further strengthening its commitment to making fresh goods and daily essentials more accessible to Filipino neighborhoods. As of 2024, Alfamart had a total of 2,100 stores.