The latest
Energy & Mining
PSALM’s ₱11-B failed property auction highlights debt and asset mobilization delays
The Power Sector Assets and Liabilities Management Corp. (PSALM) suffered a setback in its privatization drive after the bidding for its prime 39,698-square-meter Diliman property in Quezon City failed when none of the three interested firms submitted bids or paid participation fees. Holding a minimum price tag of P11.09 billion, the prime real estate asset represents a major financial opportunity for the state-run entity as it works to liquidate government power assets. PSALM now plans a second attempt next year, requiring a revised marketing strategy and new auction guidelines.
Education, Health & Science
UPS hub boosts Hub Clark’s bid for high-value cargo growth
Clark International Airport is seeking a larger share of high-value healthcare and manufacturing cargo as United Parcel Service (UPS) expands its logistics infrastructure, adding specialized cold-chain facilities and automated sorting capacity to the Philippine gateway.
Banking & Insurance
BPI posts P48.9-B net income over nine months; strengthens market standing
The Bank of the Philippine Islands (BPI) reported net income of P48.9 billion for the first nine months of the year, driven by solid loan growth, rising fee revenues, and steady business activity across core segments. Returns stood at 13.6 percent for return on equity and 1.8 percent for return on assets, with earnings tempered by ongoing investments in people, technology, network expansion, and prudent credit provisioning.
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