Corporate
Filinvest Land reports 11% more income, despite limiting factors
Filinvest Land Inc. (FLI), the Gotianun-led property developer, reported an 11 percent rise in net income for 2024, reaching P4.16 billion, up from P3.76 billion the previous year. The increase in income came despite a modest rise in residential sales and office rentals.
MVP clearing up tollway unit prior to proposed merger with SMC
Metro Pacific Investments Corp. (MPIC) on Thursday announced the sale of its 20 percent stake in toll road subsidiary, Metro Pacific Tollways Corp. (MPTC), to a foreign investor. The deal, valued at "several billions" of pesos, is part of MPIC’s ongoing drive to reduce MPTC’s debt.
Del Monte reports net loss despite strong DMPI performance
Del Monte Pacific Ltd. reported a net loss of USD35.9 million for the third quarter ended 31 January 2025 as higher operation costs and increased interest expenses at its U.S. subsidiary, Del Monte Foods Corp. II Inc. offset a 3 percent year-on-year increase in group sales to USD663 million.
Filinvest Land raises P12B from bond issue; bonds listed on PDEx
Filinvest Land Inc., the listed property development arm of the Gotianun Group, has successfully tapped the bond market and raised P12 billion to fund capital expenditures and refinance debt. FLI issued 5-, 7- and 10-year peso fixed-rate retail bonds, which are PRS Aaa-rated by the Philippine Rating Services Corp. for their outstanding quality and minimum risk. The bonds were listed on the Philippine Dealing and Exchange Corp. (PDEx). This is the second tranche of FLI’s 2023 bond shelf-registration.
SMAC partners with AirAsia Rewards to enhance shopping and travel benefits
The SM Group’s retail loyalty program, SMAC, has announced a strategic partnership with AirAsia Rewards, offering enhanced shopping and travel experiences for both brands' members. This collaboration, part of SMAC's "My SMAC, My MOVE" lifestyle campaign, allows SMAC members to convert 500 AirAsia points into 125 SMAC Points via the AirAsia MOVE app, blending travel rewards with SMAC's shopping ecosystem.
