conglomerates - updates

Rappler's latest stories on conglomerates


UK's Vodafone may enter PH as 3rd telco

Oct 03, 2018 - 2:55 PM

Budget Secretary Diokno announces that Vodafone wants to enter the Philippines 'in a big way,' though the company has yet to send an official expression of interest

3RD TELCO? Philippine government officials meet with the executives of Vodafone Group Services Ltd during their visit in the United Kingdom. Photo from DTI

Despite higher profit, PLDT chief unsatisfied: 'We can do better'

May 10, 2018 - 5:11 PM

The listed telecommunications giant will not stop until it becomes the most profitable listed firm in the Philippines again, says PLDT chairman and CEO Manuel Pangilinan

BETTER PERFORMANCE. PLDT chief Manuel Pangilinan says the telco strives to become the most profitable listed firm again. Photo by Martin San Diego/Rappler

PLDT unit seals partial sale of Rocket Internet stake

May 07, 2018 - 7:25 PM

As a result of the sale, the Manuel Pangilinan-led telco's equity ownership in Rocket Internet is reduced from 6.1% to 2%

SM Group to expand, but not keen on telco

Apr 25, 2018 - 6:05 PM

SM Investments Corporation does not plan to go into the telecommunications industry, citing its lack of know-how and the high capital budget requirement

EXPANDING FOOTPRINT. SM president and chief executive officer Frederic DyBuncio says SM group is looking to invest in 'partners' in high-growth sectors. Photo by Rob Reyes/Rappler

PLDT subsidiary selling bulk of Rocket Internet shares

Apr 16, 2018 - 6:55 PM

PLDT Online Investments Private Limited will sell the shares at €24 (P1,545.28) each, or a total of about €163.2 million (P10.51 billion)

Universal Robina spending P8 billion in 2018

Apr 16, 2018 - 4:40 PM

Universal Robina Corporation earmarks a slightly lower capital spending budget this year, versus the actual spending of P8.13 billion in 2017

Petron is main income driver of San Miguel in 2017

Mar 15, 2018 - 8:30 PM

Petron ends 2017 with a 30% higher net income at P14.1 billion on strong sales volumes from the Philippines and Malaysia

HIGHER INCOME. The country's most diversified conglomerate, led by tycoon Ramon Ang, ends 2017 with higher recurring net income mainly on strong performance of Petron. Photo by Agence France-Presse

Appetite for chicken, fresh meat boosts San Miguel Pure Foods' income

Mar 14, 2018 - 5:00 PM

But its milling business remains affected by the continued deceleration of global wheat prices

INCOME UP. Filipinos love for chicken and fresh meat helps to boost San Miguel Pure Foods profits. Photo by Agence France-Presse

PLDT income takes 'big one-time hit' from swap of base stations

Mar 08, 2018 - 7:00 PM

In the last quarter of 2017, expenses of the Philippine telco giant surge by 44% to P53.920 billion. This drags its reported net income to P4.479 billion in the same period.

BOTTOMLINE. 'We are not completely out of the woods yet but we are getting there,' PLDT chief Manuel Pangilinan says. Photo by Alecs Ongcal/Rappler

Property still drives SM's healthy financials in 2017

Feb 28, 2018 - 2:45 PM

The listed conglomerate of the Philippines' richest man posts consolidated revenues of P396.1 billion in 2017, 9% higher than the level in 2016

HEALTHY FINANCIALS. 'Our property and specialty retail businesses delivered particularly strong results,' SM president Frederic DyBuncio says. Photo by Rob Reyes/Rappler

San Miguel raising P30 billion to fund obligations, invest more

Jan 31, 2018 - 6:40 PM

The conglomerate has been refinancing its dollar-denominated debts as the peso continues to weaken against the dollar and interest rates rise

PESO BOND OFFERING. The conglomerate's latest planned fund-raising activity represents the 3rd tranche of the conglomerate’s P60-billion bond shelf registration previously approved by the SEC. File photo by AFP

Foreign firms eyeing piece of San Miguel's food, beverage unit

Nov 22, 2017 - 5:10 PM

This is amid the San Miguel subsidiary's plan to sell up to 30% of its shares, earmarked at $3 billion, mainly through private placements

SHARE SALE. 'There are several big, foreign companies that are offering. We think we will sell 30% of our traditional business. That's around $3 billion,' Ramon Ang told reporters. Photo by Martin San Diego/Rappler

ABS-CBN net income down 20% to P2.26 billion in 1st 9 months

Nov 10, 2017 - 6:55 PM

But the media conglomerate's net income for the 3rd quarter of the year stands at P1.01 billion, up 38% from the same quarter last year

SM Investments' income up on strong core businesses

Nov 08, 2017 - 7:25 PM

The listed conglomerate of the Philippines' richest man, Henry Sy Sr, benefits from growth in its property and retail units

VIBRANT GROWTH. 'Our solid 3rd quarter results benefitted from vibrant growth in our property and retail businesses,' SM president Frederic DyBuncio says. Photo by Rob Reyes/Rappler

San Miguel buys Australian firm Best Bottlers

Nov 07, 2017 - 7:45 PM

Best Bottlers is the 3rd Australian bottler acquired by San Miguel, after Barossa Bottling and Portavin

Background image from Best Bottlers' official website

SM Prime income surges 16% on steady mall rental, residential sales

Nov 06, 2017 - 9:35 PM

SM Prime attributes revenue growth to higher rental revenues, steady improvement in same-mall-sales, and higher contribution from residential sales

65TH. SM Center Tuguegarao Downtown is the Sy family's 65th mall in the Philippines. Photo by Raymon Dullana/Rappler

San Miguel to merge food, beverage businesses

Nov 06, 2017 - 4:40 PM

Shares of San Miguel Pure Foods surge by 50% to P462 apiece on Monday, November 6, following San Miguel Corporation's decision to consolidate its traditional businesses

CONSOLIDATION. San Miguel Pure Foods' primary purpose will be expanded to engagement in the alcoholic and non-alcoholic beverage business. File photo from AFP

SM Prime to open mall in Puerto Princesa, Palawan

Sep 13, 2017 - 4:50 PM

Once the mall opens on Friday September 15 it will be competing with Robinsons Place Palawan Chinatown Center Palawan NCCC Mall and LRC 908 Market Mall

ITS FIRST. SM City Puerto Princesa will have 3 levels of retail and dining floors, a supermarket, 3 158-seater SM digital cinemas, and two 48-seater Director's Club cinemas. File photo Rappler

San Miguel to build industrial estate in Cebu

Sep 07, 2017 - 7:27 PM

The industrial estate in Mandaue City will house a processed foods plant feed mill and port terminal

KEY INVESTMENT. 'This major development is an important part of San Miguel's current expansion in key regions nationwide,' SMC chief Ramon Ang says. Photo by Martin San Diego/Rappler

Forex, telco assets drag San Miguel net income in 1st half of 2017

Aug 10, 2017 - 10:20 PM

The diversified conglomerate feels the impact of the Philippine peso depreciation and the absence of the one time gain from its telco assets sale

SM Investments earns over P16 billion in just 6 months

Aug 09, 2017 - 4:55 PM

Even without the benefits of an election year the Philippines biggest conglomerate sustains growth across its core businesses

Mall operations continue to drive SM Prime's net income

Aug 07, 2017 - 5:45 PM

The additional 1 1 million square meters of retail space from new malls as well as expansions between 2015 and 2017 drive growth in SM Prime s mall rentals

Meet Ramon Ang, Filipino billionaire and Duterte's friend

Jul 23, 2017 - 9:58 PM

As Ramon Ang aggressively expands his businesses he stays on the good side of President Rodrigo Duterte through his philanthropy and campaign donations

FRIEND. President Rodrigo Duterte (left) sees Ramon Ang (right), chief of San Miguel Corporation, as his fast friend

Asia Brewery to produce Tiger, Heineken beer locally this year

Jun 20, 2017 - 5:58 PM

We ll start producing Tiger beer first this year and then later move on to producing Heineken locally which we are trying for this year also says LT Group president Michael Tan

San Miguel's P1-trillion petrochem facility to break ground by end-2017

Jun 13, 2017 - 7:10 PM

The planned oil refinery will mainly produce petrochemicals with a capacity of 250 000 barrels per day

BIGGEST. Ramon Ang, president of San Miguel Corp, expects to break ground its biggest single investment to date in 6 months' time. Photo by Martin San Diego/Rappler

San Miguel to propose $2-B Metro Manila spillway project

May 29, 2017 - 7:40 PM

In exchange Ramon Ang wants the government to give San Miguel the right to use waste materials from Laguna de Bay for power generation

FLOOD CONTROL. To be built at no cost to the government, Ang says he will push through with it if the government will give San Miguel the right to use the waste materials for its planned power generation capacity. Rappler file photo

Duterte foreign policy, Anti-Distracted Driving Act, Mike Pence | Evening wRap

May 22, 2017 - 10:53 PM

Watch the evening newscast with Acor Arceo

Gov't infra push fails to spark economy in Q1

May 22, 2017 - 12:30 PM

The Duterte administration s Build Build Build program has yet to break ground and lift the economy leaving the private sector to fill the void

Can conglomerates foster inclusive development in PH?

Apr 03, 2017 - 10:00 AM

The country faces a dilemma in development as it strives to achieve growth and progress amid distress and poverty

DILEMMA. The Philippines is one of the fastest growing economies despite having the third highest poverty incident rate in ASEAN.

George Ty and MVP transaction is best deal of 2016 – IHAP

Mar 19, 2017 - 10:00 AM

The deal that brought together two of the biggest conglomerates in the country is recognized as the most innovative and complex

BEST DEAL. George Ty's GT Capital Holdings acquired 15% of Manuel V. Pangilinan's Metro Pacific Investment Corporation in 2016.

San Miguel grows net income by 80% despite depreciating peso

Mar 16, 2017 - 5:30 PM

2016 was a good year for San Miguel due to election related spending good weather conditions stable interest rate and low inflation rate

BUILDING MOMENTUM. 'We’re very encouraged by the company’s strong performance in 2016 and we are determined to build on this momentum by investing in our brands,' SMC chief Ramon Ang says. Photo by Martin San Diego/Rappler

William Belo: Doing business like a crocodile

Mar 14, 2017 - 12:43 PM

After 40 years Belo s home improvement company Wilcon is now a compelling retail player with a network of 36 big box’ and community stores

BIG BOX FOUNDER. William Belo to list home improvement retailer Wilcon Depot, which he found 40 years ago

Why miners are not ready for Gina Lopez

Feb 28, 2017 - 6:26 PM

Mining industry players did not invest enough in building goodwill And this explains why they were not prepared for someone like Gina Lopez

Green vs greed? The Lopezes' new family saga

Feb 13, 2017 - 8:00 AM

Environment Secretary Gina Lopez is leading her entire clan in a familiar battle that involves politics and business

Religious and environment groups pray over DENR secretary Gina Lopez during a mass at the Ninoy Aquino Parks and Wildlife Center in Quezon City in support to her advocacies and effort for the environment on February 2, 2017. Photo by Ben Nabong/Rappler

South Korea's Lotte, SK raided over corruption scandal

Nov 24, 2016 - 1:49 PM

Prosecutors raided the Seoul headquarters of the two groups and the finance ministry to confiscate documents relating to duty free operations

A photo taken on July 29, 2015 shows a Lotte logo in Seoul. Yonhap/AFP

Metro Pacific raises income target to P11.7B in 2016

Nov 08, 2016 - 8:10 PM

But while its income goes up the conglomerate s revenue loss from delayed tariff rate adjustments also increases

LONG OVERDUE. Metro Pacific President Jose Ma. Lim says his firm is in discussions with the new administration on resolving some of its overdue tariff increases are ongoing. Photo by Chrisee Dela Paz/Rappler

Dubai awards Alstom-led consortium $2.88B metro extension

Jun 30, 2016 - 12:05 AM

The new project will extend the Dubai Metro s Red Line from Nakheel Harbor Tower station to the Expo 2020 site

People watch a presentation of the Route 2020 metro expansion project during a press conference on June 29, 2016, in the emirate of Dubai.  Dubai's transport authority announced it had awarded a French-led consortium a $2.88 billion contract to extend its metro network to the site of the Expo 2020 world trade fair. The consortium, led by France's Alstom Conglomerate and also including Spain's Acciona and Turkey's Gulermak, will construct a 15 kilometre (nine mile) extension to the site of the fair, a statement said. / AFP PHOTO / KARIM SAHIB

San Miguel, Ayala report healthy net income in Q1

May 12, 2016 - 6:25 PM

Core businesses of both conglomerates see their profits climb during the first quarter of 2016

HEALTHY PACE. Ayala and San Miguel expect most of their businesses to continue growing at a healthy pace

Ayala Corporation to invest $50M in health care, education

Aug 14, 2015 - 5:11 PM

To date the conglomerate has invested 20 million in the recent acquisition of 50 interest in Generika group and 60 in the University of Nueva Caceres

Lucio Tan group spending P10B in 2015

Jun 23, 2015 - 6:23 PM

The conglomerate is optimistic despite cigarette beer units’ challenges

French, Filipino firms tapped to complete NAIA expressway

Mar 04, 2015 - 5:03 PM

San Miguel Corporation decides to tap partners to finish the P15 4 B expressway in time for the APEC meetings in Manila in November

First Pacific gains majority control of Roxas Holdings

Feb 28, 2015 - 2:30 PM

First Pacific buys P1 7 bilion worth of additional shares to gain control with a 50 9 stake

CONTROLLING. Manuel V. Pangilinan's First Pacific now has control of Roxas Holdings with 50.9% stake. File Photo Rappler

2014: Worst year in Asia?

Jan 06, 2015 - 8:11 AM

2014 was clearly a not so good year for democracy in Asia

San Miguel Purefoods acquires La Pacita biscuits trademark

Nov 21, 2014 - 6:24 PM

After its failed bid to acquire UK’s United Biscuits the diversified conglomerate acquires the nearly century old homegrown biscuits maker

JG Summit earnings up 88% in Jan-Sept

Nov 14, 2014 - 9:05 PM

Consolidated revenues grows to P132 7 billion attributed to its major subsidiaries’ strong performance

Ayala Corporation raises net income to 35% for Jan-Sept

Nov 13, 2014 - 8:11 PM

The diversified conglomerate posts net income of P14 1 billion attributed to the strong performance of its core business units

ABS-CBN confident of P2B target despite decline in earnings

Nov 11, 2014 - 6:23 PM

ABS CBN continues to book a decline in earnings as of end September 2014 but its strong performance in core businesses cushions the downtrend

The Eugenio Lopez Jr Communication Center in ABS-CBN. Image courtesy of

Why same firms are vying for PH infra projects

Oct 01, 2014 - 8:15 AM

It s a testament to how much these Philippine firms have grown and matured They re now looking for yield and more portfolio expansion opportunities

Ayala Corp to raise P15B for power, infra investments

Aug 26, 2014 - 3:00 PM

The conglomerate plans to issue preferred shares in the last quarter of the year

Cabangon-Chua acquiring RPN-9

Aug 21, 2014 - 11:14 AM

Antonio Cabangon Chua of Aliw Broadcasting is taking over as chairman of the television network