Corporate

Semirara Mining and Power Corp., the energy company of the Consunji Group, on Wednesday posted an 8 percent year-on-year decline in third-quarter earnings to P3.1 billion as margins from its coal business took a hit from stabilizing market conditions and seasonal impacts from the rainy season.

Homeqube Pte Ltd., a Singapore-registered construction firm, on Tuesday announced an ambitious plan to build 1,000 housing units in the Philippines this year, targeting total investment of around P1 billion.

Cebu Air Inc., operator of the Gokongwei Group’s budget carrier Cebu Pacific, is raising its stake in 1Aviation Groundhandling Services Corp. by converting the majority of the loans it extended to certain shareholders of the airline service affiliate.

Concepcion Industrial Corp., a leading provider of consumer lifestyle and enterprise solutions, on Tuesday reported a 57 percent increase in third-quarter net profit to P218.2 million, highlighting the strength of its operations and improved margins despite modest revenue increases. 

Metropolitan Bank & Trust Co., the country’s largest lender, said Tuesday that nine-month net income rose 12 percent to a record P35.7 billion, driven by robust asset expansion, a recovery in non-interest income, and improved asset quality.