Corporate

Listed fuel distributor and retailer Top Line Business Development Corp. (TOP) delivered record financial results in 2025, underscoring the gains from its vertically integrated model and aggressive retail push.

Maynilad Water Services, Inc. is stepping up efforts to cut water losses, targeting Non-Revenue Water (NRW) levels of 25 percent by 2027 and 20 percent by 2030. The move aligns with regulatory commitments and long-term goals for reliable, sustainable service in Metro Manila’s West Zone.

Petron Corp., the country’s largest oil refiner controlled by San Miguel Corp., closed 2025 with record-breaking results, reporting a net income of P15.6 billion, up 84 percent from P8.5 billion the previous year. 

Coal Asia Holdings Inc. reported that no minority shareholder tendered shares during its recent tender offer period, clearing the way for its planned transformation into a water utilities company without additional buyouts.

SM Investments Corp. (SMIC) is considering selling its 30 percent stake in Atlas Consolidated Mining and Development Corp., marking a possible exit from the mining sector.