Corporate
Jollibee takes control of South Korea’s Compose Coffee for USD340 million
Jollibee Foods Corp., the Philippines' food service company, said Tuesday its subsidiary, Jollibee Worldwide Pte. Ltd., has finalized a deal to acquire a majority stake of 70 percent in Compose Coffee Co., Ltd. and JMCF Co. Ltd., collectively known as Compose Coffee.
Meralco launches nuclear engineering scholarship; 5 engineers sent to US, China
Manila Electric Co. has launched FISSION program—short forFilipino Scholars and Interns on Nuclear Engineering—as the country’s largest power distributor prepares for an expected Philippine adoption of nuclear technology to address growing demand for electricity and shift away from carbon-emitting technology.
Jollibee aims to triple net income in 5 years primarily through overseas expansion
Ernesto Tanmantiong, president and chief executive officer of Jollibee Foods Corp., aims to triple the net income of the Philippines’ largest restaurant group within the next five years.
Del Monte books wider 4Q net loss of USD76.7 million on weaker US sales
Del Monte Pacific Ltd., the global food and beverage brand listed in the Philippines and Singapore stock exchanges, said Monday had a net loss of USD76.7 million in its fourth quarter ended 30 April, wider than the net loss of USD11.9 million in the same period last year.
Petron eyes P17 billion from new offer of preferred shares
Petron Corp., the country’s largest oil company and unit of San Miguel Corp., said Monday it filed with regulators an application to raise as much as P17 billion from the sale of 17 million Series 4 preferred shares.
