Corporate

San Miguel Corporation (SMC) reported a significant 18 percent drop in net income for 2024, totaling P36.7 billion, down from P44.69 billion in 2023. Despite the decline in income, the company achieved a 9 percent increase in revenue, reaching P1.6 trillion, driven by higher sales across its core businesses, including power, spirits, fuel, and oil.

Maynilad Water Services, Inc. ("Maynilad") on Monday filed with the Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE) its proposed initial public offering (IPO), marking a milestone in the company’s growth strategy.

Globe Telecom Inc. has announced plans to extend its network coverage to an additional 100 geographically isolated and disadvantaged areas (GIDAs) by 2025, marking a significant step in improving connectivity across underserved regions in the Philippines.

MGEN Renewable Energy, Inc. (MGreen), through its subsidiary SP New Energy Corporation (SPNEC), has successfully concluded a deal with Actis Rubyred (Singapore) Pte. Ltd. for a 40 percent equity stake in Terra Solar Philippines, Inc. (MTerra Solar). 

Converge Information and Communications Technology Solutions Inc., the Philippines’ leading pure-play high-speed fixed broadband operator, saw net profit last year rise 19 percent to P10.8 billion, a net income margin of 26.6 percent.