Covid-19 impacts Cebu office space

The coronavirus disease 2019 pandemic continues to weigh heavily on the office market of Metro Cebu, JLL Philippines reported. In a webinar on Tuesday, the global real estate services firm said the year-to-date supply of office market in Metro Cebu has reached 76,000 square meters (sqm), lower than those recorded historically. JLL Philippines head of Research and Consultancy Janlo de los Reyes said the huge part of the...

LGUs issue 933 new telco permits

THE Anti-Red Tape Authority (ARTA) said it recorded a total of 933 approved telecommunications permits as of September 21 following the issuance of compliance orders to local government units (LGUs) last month. In a statement releaesed late on Monday, ARTA said that for PLDT/Smart, a total of 661 documents have been released including permits for barangay resolution, building permit, and certificate of final electric inspection across Luzon, the...

DA sees 45-day deficit on pork supply by end-2020 

WITH continuing cases of African swine fever (ASF) in the country, the Department of Agriculture (DA) is forecasting a 45-day deficit on local pork supply at the end of the year, an official said on Tuesday. During the DA’s virtual press conference, Agriculture Undersecretary for Livestock William Medrano presented updates on the Philippine livestock and poultry industry amid the coronavirus disease pandemic. “On pork, based on our forecast,...

NOW Telecom insists it’s 4th telco

NOW Corp. is standing by its earlier statement that affiliate NOW Telecom is the country’s fourth mobile telco player despite having no official declaration from the government. In a disclosure on Tuesday, the listed company, citing a report from BusinessWorld, said National Telecommunications Commission (NTC) Deputy Commissioner Edgardo Cabarios himself “confirmed” that NOW Telecom is the fourth telco given its license to operate a mobile network. However, Cabarios...

Wilcon plans two more store openings

Listed Wilcon Depot Inc. expects to see growth in the third quarter and eyes two more store launches by the last quarter of the year. In a virtual presser on Monday, Wilcon Senior Executive Vice President and Chief Operating Officer Rosemarie Ong said they see “good numbers” for the third quarter as they record improvements in foot traffic and sales. Ong also noted the company has ramped up...

PH Resorts gets pre-effective OK for P1.25-B share offer

Listed PH Resorts Group Holdings Inc. (PHR) on Tuesday said it has received pre-effective approval from the Securities and Exchange Commission for its P1.25-billion follow-on offer of common Stock Market. In a filing to the exchange, the gaming and hospitality subsidiary of the Udenna Group said the proceeds to be raised will be used to partially fund completion of the first phase of Emerald Bay, the firm’s flagship...

MRC Allied to transition into holding company

MRC Allied, Inc. said on Tuesday it secured the shareholders’ green light to transition into a holding company. In a disclosure, MRC Allied said its stockholders approved the amendment of its primary purpose to carry on the business of a holding company and for that purpose either in the name of the said corporation or for another entity. “MRC will continue its usual business. It will continue its...

AC Energy’s acronym is ACEN

Cityland Development Corp. (CDC) has 4,403,739,084 outstanding common Stock Market traded on the Philippine Stock Market (PSE), according to CDC’s public ownership report (POR) as of June 30, 2020. The PSE website listed 4,405,677,031 listed and issued Stock Market, equivalent to 1,937,947 common Stock Market as shown in the company’s POR. In its POR, CDC listed Cityland Inc. as CDC’s principal stockholder as direct holder of 2,244,843,287 common...
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