CEBU, Philippines — Property giant Megaworld Corporation opened its first hotel facility in Cebu, the 547-room Savoy Hotel Mactan Newtown, in Lapu-Lapu City. The 18-storey hotel located within the 30-hectare Mactan Newtown is the first hotel to open inside the township. Savoy Hotel Mactan Newtown is so far the biggest hotel in terms of number of rooms in Mactan Island and the second bi...
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MEGAWORLD Corp. on Wednesday said it is expected to generate some P2.5 billion in sales from this first residential project inside Arden Botanical Estate in Trece Martires in Cavite. The village is expected for completion in 2024. Lot prices in Arden Botanical Village range from P18,000 to P22,000 per square meter. The 18-hectare village forms part of the 251-hectare Ar...
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MANILA, Philippines — Ayala Corp. is taking a $237.5 million stake in the Pun family’s Yoma Group, marking the largest Philippine conglomerate investment in Myanmar. Ayala said in a stock exchange filing on Thursday that the deal will give it 20 percent of the Myanmar conglomerate, which is comprised of two holding companies: Singapore-listed Yoma Strategic Holdings Ltd. (YSH) and M...
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DMCI Holdings, Inc. on Wednesday said it booked a net income of P2.8 billion in the third quarter, 47% higher year-on-year, which was attributed to “normalized coal operations” of Semirara Mining and Power Corp. (SMPC). In a statement, DMCI said core earnings in the third quarter went up 24% to P2.6 billion, excluding the P164-million non-recurring loss from the company’s shar...
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MEGAWORLD Corp. recorded an 11% rise in earnings in the third quarter, as it sustained growth across its business segments. In a regulatory filing, the listed property developer led by tycoon Andrew L. Tan said its attributable net income reached P4.49 billion in the July to September period, driven by a 15% increase in consolidated revenues to P16.4 billion. Expenses, on the other hand, grew 1...
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ARTHALAND Corp. has been given the second highest credit rating by a local debt watcher for its planned issuance of fixed-rate green bonds worth P3 billion. Philippine Rating Services Corp. (PhilRatings) said in a statement Wednesday its has awarded Arthaland a “PRS Aa minus” rating for its plan to issue ASEAN green bonds with a three-year shelf registration of up to P6 billion....
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