Megawide Construction Corporation (Megawide) sustained the momentum of its construction business in the first six months of 2021, generating 43% higher revenues at almost P7.0 billion. This resulted in a net income of P353 million for the first half and reversed the P303 million loss in the same period last year. The construction segment, which is a critical component in pump-priming the economy due to its significant multiplier effect, remains a bright spot in the Company’s portfolio amid the ongoing pandemic, as activities were unhampered despite the re-imposition of ECQ. On a consolidated basis, the Company reported revenues of P7.6…
Author: Kharla Marasigan
To further its entry into the growing dairy category, DMPI entered into the Joint Venture with Vinamilk. The Joint Venture was intended to enhance DMPI’s value proposition of offering premium healthy products and expand its portfolio to include the dairy category. The Joint Venture enables Vinamilk to enter the Philippine market with innovative product offerings. DMPI and Vinamilk will have joint ownership and control of the Joint Venture. The parties entered into a joint venture agreement on 11 March 2021 which was subject to requisite approvals the last of which was obtained as of 16 August 2021. The corporate vehicle…
The Department of the Interior and Local Government (DILG) today said that some 15,687 private and public establishments all over the country have been awarded a Safety Seal certification by Local Government Units signifying that they have complied with the minimum public health standards (MPHS) set by the government. DILG Spokesperson and Undersecretary Jonathan E. Malaya said that of the more than 15k establishments, around 4,000 are government buildings or establishments that have been issued a Safety Seal certificate by the DILG, with a number of local government units (LGUs) being visited by the Department’s officials themselves for the ceremonial…
Del Monte Philippines, Inc. (DMPI), a subsidiary of Del Monte Pacific Limited, has forged a strategic alliance with Vietnam Dairy Products JSC (Vinamilk), a leading regional dairy company. DMPI and Vinamilk entered into a joint venture to expand into the dairy sector in the Philippines with both companies contributing 50% of the total investment capital. The joint venture will import dairy products from Vinamilk, and market and distribute them in the Philippines through DMPI. Vinamilk is among the Top 40 largest dairy companies globally, ranked 36th by revenue with US$2.6 billion of sales in 2020. It is also the largest…
With 2021 H1 net income to parent surging by 66% year-on- year, leading developer in VisMin Cebu Landmasters Inc. announced it is set to surpass its growth targets for the year. Net income to parent rose from Php 792 million to Php 1.32 billion in the first six months as the company continues its robust uptrend in financial performance. The significant increase in profit was driven by exceptional revenue growth from Php 3.5 billion to Php 5.1 billion derived from real estate sales. The figure covers a range of housing developments catering to buyers from various segments with 47% attributed…
The Government of Canada today announced a total of approximately PHP757 million (Can$18.9 million) for 7 new development assistance projects to be implemented in the Philippines over the next 5 years. These initiatives focus mainly on supporting the country’s economic response to the COVID-19 pandemic, empowering and improving the health of women and girls and assisting vulnerable people in underdeveloped areas of Mindanao. “Canada stands together in solidarity with the Filipino people in the face of unprecedented challenges resulting from the COVID-19 pandemic, including the negative physical, mental, social and economic effects many are experiencing each day,” said Peter MacArthur,…
According to the United Nations Food and Agriculture Organization, in the last 20 years, the Philippine’s global ranking in fisheries and aquaculture production had fallen due to unsustainable management systems and structures. The Philippine government’s medium-term response was the implementation of the Comprehensive National Fisheries Industry Development Plan (CNFIDP), prepared by the Bureau of Fisheries and Aquatic Resources (BFAR), in consultation with stakeholders from the private sector, local and national government, academe, and civil societies. Among others, the CNFIDP consisted of the Fisheries Industry Roadmaps on milkfish, tilapia, shrimp, shellfish, and seaweed to set production targets and strategies on each…
Pilipinas Shell Petroleum Corporation’s shift in supply chain strategy is working, with the company posting P2.2 billion in net income for the first half of the year. “We’re seeing a significant rebound from our P6.7 billion loss in the same period last year. It validates our bold decision to transform the way we do business amidst uncertain conditions resulting from the Covid-19 pandemic,” says Pilipinas Shell President and CEO Cesar Romero. The company inaugurated the Shell Import Facility Tabangao (SHIFT) last June 30, marking the transformation of its refinery into a world-class import terminal that will meet fuel demand in…
The Philippines’ only pure-play high-speed fixed broadband operator, Converge Information and Communications Technology Solutions, Inc. (PSE: CNVRG) (“Converge”) ended 2Q2021 with 1,355,079 residential subscribers, 85% more than in 2Q2020 resulting in another record quarter for the Company. The completion of the initial phases of Converge’s domestic subsea cable network in the VisMin region in 2Q2020 resulted in the activation of an end-to-end nationwide backbone reaching from northern Luzon to Mindanao. This event represented another historic milestone in the mission of Converge to bring reliable and affordable, high-speed fiber internet to millions of households in the Philippines nationwide. As the fastest…
METRO MANILA – Here is the official 3D Lotto Result today, Friday, August 13, 2021 from the Philippine Charity Sweepstakes Office (PCSO) based on 2PM, 5PM, and 9PM live draws online. 3D also known as Swertres is one of the most popular digit games in the Philippines. The PCSO releases official 3D result / Swertres result for 13 August 2021 at 2pm, 5pm and 9pm. Refresh this page after the scheduled draw time to see the latest results. 3D Lotto Result Today August 13, 2021 from PCSO (Swertres): [table id=343 /] Congratulations to all the winners. if you did not…