Aboitiz Power Corporation (AboitizPower), through its clean energy subsidiary Aboitiz Renewables, Inc. (ARI), recently entered into a P20-billion loan agreement with the Land Bank of the Philippines (LANDBANK) to fund the growth of its renewable energy (RE) portfolio. According to AboitizPower Chief Renewables Officer Jimmy Villaroman, this long-term debt financing will fund ongoing expansion and development projects, including constructing new renewable energy power plants. “We are very grateful to LANDBANK for their support and confidence in our company,” Villaroman said. “This loan will allow us to continue providing clean and sustainable energy to help meet the growing demand in the…
Author: Business News Asia
Business News Asia
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Philippine fiber internet provider Converge Information and Communications Technology Solutions, Inc. (PSE: CNVRG) has received the greenlight to provide international connectivity services in Singapore through its wholly-owned subsidiary, Converge ICT Singapore Pte. Ltd. (Converge SG), to further strengthen its fast-growing international wholesale business. In its grant letter, the Infocomm Media Development Authority (IMDA), a statutory board under the Singapore Ministry of Communications and Information, said that the authority has approved the application of Converge SG for a Facilities-Based Operations (FBO) Licence. Effective January 3, 2023, Converge SG can start deploying telecommunications infrastructure and provide connectivity services and fiber optic cable…
Digital solutions platform Globe has more than doubled its 5G footprint to allow Filipinos to enjoy faster mobile and broadband speeds in key areas nationwide. The company ended 2022 with 5G connectivity in 70 cities and towns across the Philippines versus 29 in 2021, more than doubling its coverage in a year. Its 5G network is now available to nearly all of the population in the National Capital Region (NCR), Davao City and Cebu. The technology also covers 97% of the people in Bulacan, 95% in Cavite, 90% in Iloilo City and Zamboanga City, 88% in Tuguegarao City, 87% in…
As The New Star of the Holidays, NUSTAR Resort and Casino is introducing an island of new celebrations. Throughout the Christmas season, the region’s first premier integrated resort is creating the merriest of moments for guests through engaging holiday-themed events and enchanting experiences. Christmas is universally considered as the most wonderful time of the year. As soon as the festive décor and lights are up, everything instantly becomes more beautiful and magical. During its first tree lighting ceremony in November, NUSTAR’s executives and special guests adorned the tree at the Casino Grand Lobby with the 5 Stars of Christmas to…
With every purchase of a SMAC card and every checkout, shoppers can now help support a family in need. Leading digital solutions platform Globe and SM Advantage Card (SMAC), the loyalty card of retail giant SM, have come together to help put meals on the table of those in need through the Hapag Movement, Globe’s technology-driven program against involuntary hunger. “We are excited to partner with SMAC at the most joyful time of the year so we can bring cheer to our fellow Filipinos who continue to suffer due to involuntary hunger. Now, it’s easier for shoppers to share their…
Globe announces the readiness of its online SIM registration platform following the recent release of the SIM Registration Act’s Implementing Rules and Regulations (IRR) by the National Telecommunications Commission. There are an estimated 87.9 million SIM users in the Globe network. All Globe Prepaid, TM, Globe At Home Prepaid WiFi, Globe Mobile WiFi and Globe Business prepaid subscribers may register their SIMs at https://new.globe.com.ph/simreg beginning December 27, 2022. By January, customers will also be able to register through the New GlobeOne app. Globe and TM customers will continue to enjoy Globe services and may register until April 26, 2023 to…
Metro Pacific Investments Corporation’s (MPIC) mWell further raises the bar for digital health apps as it expands app features and services through partnerships with top names in technology, wellness, and healthcare. As the Philippines’ first fully integrated health integrated app, mWell’s ecosystem offers a holistic approach to digital healthcare– from doctor consultation, e-pharmacy, emergency services and home care– to fitness and nutrition programs created by experts. Supporting mWell in its drive for innovation anchored on good health and well-being are healthcare experts HealthLink, Lifeline 16-911 and MedExpress. With these powerhouse partnerships, mWell users can now avail of expert care for loved…
Globe welcomes the release of the implementing rules and regulations (IRR) of the SIM Registration Act for standard enforcement of the law. The IRR, crafted by the National Telecommunications Commission in consultation with the telco industry, has also gone through public hearing. It is expected to lay down the SIM registration procedure and guidelines that all public telecommunications entities (PTEs) must follow in creating their respective registration platforms. The IRR is expected to take effect on December 27, 2022. In compliance with the law, Globe will launch its online SIM registration platform and start selling new SIMs in deactivated mode.…
GTCosmetics Manufacturing Inc. once again gains international recognition when it was chosen as one of the awardees in the International Innovation Awards (IIA) 2022. The company’s Brightening C+ skin care product line wins the IIA 2022 award under the Product Category. Products are assessed based on the innovation distinction, practicality and performance, commercial viability, Social and Economic Impact. In 2015, Engr. Leonora Salvane, GTCosmetics Manufacturing Inc Founder and Vice-Chairman was also awarded by Enterprise Asia during the Asia Pacific Entrepreneurship Awards under the Most Promising Category. GT’s Brightening C+ product line has five products – the Night Care Cream, Daily…
The 55th Pilipinas Shell’s National Student Arts Competition (NSAC) and its face-to-face Art Interact events throughout 2022 provided venues where master artists built the next generation of talents in Metro Manila, Bacolod, and Cebu. Evoking the year’s “Sulong Sining” theme, Pilipinas Shell Vice President for Corporate Relations, Serge Bernal, encouraged the participants to use the uniting power of art to charge forward by showing who you are, what you value, and what you envision through art. During the culminating event at the Ayala Museum, he thanked the young artists for showing that creativity and art are alive, well, and growing…
Globe, a digital platform in the Philippines with major interests in telecommunications, financial technology, digital marketing solutions, venture capital funding, data insight services, virtual healthcare and providing support to entertainment, announced today that it has achieved another milestone in its landmark initiative with the second closing of 750 towers to be transferred to Frontier Tower Associates Philippines Inc. (Frontier Towers) for a cash consideration of ₱9.5 billion. These tower assets are composed of 81% ground-based towers and 19% rooftop towers. With this latest closing a total of 1,550 out of the 3,529 towers have been transferred to Frontier Towers. Globe…
Globe (PSE:GLO), a leading digital platform in the Philippines is now moving on the next phase of its capex investment cycle, with Globe’s Board of Directors approving a significantly lower cash capex level of US$1.3 billion for 2023, a 30% reduction in year on year cash capex spending versus an expected peak of ~US$1.9 billion in 2022. The Company sees its capex investments peaking this year given the ramped up spending to take full advantage of the streamlined permitting process for the mobile network rollout in the country. This allowed Globe to maintain its industry-leading network consistency and enhance the…
Globe’s 917Ventures and Ayala Corporation are set to bring global two-wheel electric vehicle and battery-swapping technology leader Gogoro to the Philippines. Piloting in Metro Manila in Q1 2023, Gogoro’s Smartscooters will serve as an eco-friendly alternative to fossil fuel-powered vehicles currently used by the logistics and last-mile delivery industry. Gogoro® Smartscooters® are powered by Gogoro’s® battery swapping platform through conveniently located swap stations, where users can quickly swap depleted batteries for fully-charged ones in seconds. Vince Yamat, 917Ventures Managing Director, said the partnership seeks to reduce the use of fossil fuel by the country’s logistics industry which are known to…
Grand Hyatt Erawan Bangkok invites you to unveil the festive season in ‘Grand’ style, presenting a series of seasonal celebrations all December long. All against the nostalgic backdrop of grandest decorations and displays you will remember for years to come, the hotel ensures a holiday season with full festivities – from exquisite dining at signature restaurants, sophisticated events, and joyous gatherings; to enchanting gift and holiday treats. On offer at the city’s best-loved The Dining Room is a true feast of festive dining. Whether on Christmas Eve, Christmas Day, New Year’s Eve, or New Year’s Day, diners joining The Dining…
The Philippines, a country located along the typhoon belt, is no stranger to experiencing the impact of climate-related hazards. In the WorldRiskIndex 2022 report, the country was reported to have the highest disaster risk among 193 countries. In the face of these challenges, Globe strives to build resilient network infrastructure that can withstand the impact of stronger and more frequent weather disturbances and other natural disasters. This is enclosed in the Globe Business Continuity Management Policy which stipulates the company’s commitment to provide continuity of critical operations that support delivery of key products and services, among others. Globe’s head for…
On 22 November, Embassy of Japan in the Philippines Deputy Chief of Mission, MATSUDA Kenichi joined the historic courtesy visit of United States Vice President Kamala Harris to the BRP TERESA MAGBANUA (MRRV-9701) stationed in Puerto Princesa City, Palawan. One of the largest patrol vessels of the Philippine Coast Guard, the Japan-made BRP TERESA MAGBANUA was chosen to welcome the US Vice President. This visit marks a milestone for U.S.-Philippines-Japan cooperation. Maritime cooperations like this are crucial for a Free and Open Indo-Pacific (FOIP). Japan looks forward to further promoting collaboration among the three countries.
Converge Co-Founder and CEO Dennis Anthony Uy was hailed as the Entrepreneur of the Year and Master Entrepreneur at the prestigious Entrepreneur of the Year Philippines (EOYP) 2022 Awards held Monday night for his pivotal role in bringing digital connectivity to more Filipinos across the country. The EOYP Awards is organized by EY Philippines through the SGV Foundation. “It is my distinct honor to receive this top entrepreneur award. We believe, at Converge, that digital access is not a privilege of a few but a right of everyone. Thank you for recognizing our mission and what we’ve been doing to…
Leading VisMin Developer Cebu Landmasters Inc. (CLI) sustained its growth momentum for the first nine months in 2022 resulting in a 43% year-on-year surge in revenues to Php10.96 billion driven by fast economic recovery in the region. Over the same period, normalized net income to parent increased to Php2.2 billion or 34% more year-on-year from nine-month 2021’s Php1.64 billion, the remainder after tax adjustments for the year were factored out. Set to exceed its 2022 growth target, the listed company posted revenue increases across all its market segments, with flagship economic brand Casa Mira registering Php5.03 billion in revenues or…
Converge ICT Solutions Inc., a Philippine-listed fiber internet provider, announced a 30% increase in consolidated revenues during the first nine months of the year to P24.5 billion from the same period last year. The surge in revenue was attributed to the continued expansion in the company’s residential subscriber base and very strong performance from its enterprise segment. This lifted the company’s net income to P6.1 billion during the nine-month period, 17% higher from the same period last year. Supporting the residential subscriber growth is the rollout of fiber ports with Converge deploying more than 411,000 Fiber to the Home (FTTH)…
A consortium of telecommunications companies has signed agreements to invest about $300 million for a submarine cable system in Southeast Asia that aims to boost data capacity in the region and upgrade local capacities. The group is composed of China Telecom Global Limited (CTG) of China, Globe Telecom, Inc. (Globe) and DITO Telecommunity Corporation (DITO) of the Philippines, Singapore Telecommunications Limited (Singtel) of Singapore, and Unified National Networks Sdn Bhd (UNN) of Brunei Darussalam. The planned Asia Link Cable (ALC) will be approximately 6,000 kilometers in length, connecting Hong Kong SAR China and Singapore as its trunk, with branches into…