BusinessWorld
May 26, 2021 | 12:07 am
Keren Concepcion G. Valmonte
EXECUTIVES of top listed companies attributed their success to the opportunities and funding they were able to unlock at the stock market through an initial public offering (IPO).
“I think it is evident from the stories and insights of our resource speakers that had their companies opted to remain private family entities, they may not have been able to fast-track their growth and expansion,” Philippine Stock Exchange (PSE) President and Chief Executive Officer Ramon S. Monzon said.
In a bid to boost listings, the PSE invited top executives of companies with successful IPO experiences to share their stories in an online briefing called “The Road to IPO.” At least 600 participants tuned into the live webcast.
BusinessWorld
May 25, 2021 | 12:08 am
Valmonte
THE growing number of companies offering or expressing interest in tapping the real estate investment trust (REIT) market signal confidence in the capital market, but their dividends will be watched by investors, analysts said.
âIt shows that companies feel that the capital market is a good place to raise money, and it also shows that there are available investors ready to take them,â Juanis G. Barredo, chief technical analyst of COL Financial Group, Inc., said in a Viber message last week.
âIf they feel or sense otherwise, they [will] defer such offerings,â he added.
Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort said seeing more companies offer REITs is âa good signal on the further progress and development of the countryâs capital market.â
San Miguel Food and Beverage Inc. returned to profitability in the first three months of 2021, with net income soaring 66% to ₱9.68 billion despite the Philippines ongoing battle against the coronavirus pandemic.
BusinessWorld
May 5, 2021 | 12:08 am
BW FILE PHOTO
PETRON Corp. said on Tuesday that its first-quarter consolidated net income hit P1.73 billion, swinging from losses of P4.9 billion year on year, despite a decline in the number of oil barrels sold and lower revenues.
In a press release, the country’s largest oil company said that its end-March profit was higher than the P1.2 billion earned in the fourth quarter last year.
“First quarter volumes reached 19.38 million barrels, 21% lower than the 24.66 million barrels sold in the same period last year, while consolidated revenues decreased 20% to P83.3 billion from P104.62 billion a year ago,” said the listed company, which refines and markets oil in the Philippines.
Published April 22, 2021, 5:00 AM
Eton Properties Philippines, Inc. (EPPI) reported an 11 percent decline in net income to P802 million last year from P900 million in 2019 as higher rental income offset the adverse impact of the pandemic.
In a statement, Eton said gross revenues dropped 21 percent to P2.6 billion in 2020 from P3.3 billion in the previous year but noted a 2.9 percent growth in rental income to P1.76 billion last year, despite a global slowdown due to the Covid-19 pandemic.
The growth in the company’s rental income was the result of office, commercial, and residential leasing revenue, as well as, hotel room sales.