Bolts champs at last
MANILA, Philippines — Transfer of power complete.
CEO latest news
Pagcor warns of P20 billion revenue loss from POGO ban
MANILA, Philippines — The Philippines is expected to lose at least P20 billion annually if the government will heed the call to ban Philippine offshore gaming operators (POGOs).
Mitsubishi to roll out XForce compact SUV
MANILA, Philippines — Mitsubishi Motors Philippines Corp. (MMPC) is set to roll out the XForce next month as its contender in the compact sports utility vehicle (SUV) segment.
Cebu Pacific executive recognized at Tambuli Awards
MANILA, Philippines — Cebu Pacific chief marketing and customer officer Candice Iyog was named Chief Marketing Officer at the 2024 Asia Pacific Tambuli Awards held on June 4. In photo (from left) are Jerry Kliatchko, chairman, Tambuli Awards and dean, School of Media and Marketing, UA&P; Francis Sebastian, chairman of GT Capital Holdings Inc.; Iyog; Kais Marzouki, chairman and CEO of Nestle Philippines and Stephan Czypionka, global chief marketing officer of CJ CheilJedang Foods South Korea.
Ang’s eldest takes on bigger role in SMC
MANILA, Philippines — John Paul Ang, the eldest son of tycoon Ramon Ang, is set to take on a bigger role in diversified conglomerate San Miguel Corp. (SMC), which his father currently leads.
Apple to break AI silence at developers conference
San Francisco — Apple on Monday will attempt to persuade doubters on its AI strategy after rivals raced ahead in adopting artificial intelligence.
PBA to take part in EASL anew
MANILA, Philippines -- The PBA will be sending teams to participate in the 2024-2025 season of the East Asia Super League (EASL), commissioner Willie Marcial said on Wednesday.
Globe now considering dual listing for GCash in 2025
Globe [GLO 2006.00 ?0.8%; 111% avgVol] [link] CEO Ernest Cu said that the company might list GCash “sometime in 2025”. Mr. Cu also noted that while he prefers to conduct the IPO on the PSE, they are also considering the option of a dual listing to “take advantage of the liquidity in the US market.” GLO owns 35% of Mynt, the parent company of GCash, which was last valued at approximately US $2 billion in 2021. Other investors in Mynt include Ant Group (Alibaba), Warburg Pincus (American PE firm behind CNVRG IPO), Bow Wave Capital, and Ayala Corp [AC 625.00 ?0.9%; 27% avgVol].MB BOTTOM-LINE: According to reports, the Ant Group is likely to hold on to its shares through any IPO, but some of those other names (like Warburg Pincus and Bow Wave Capital) are of investors that will definitely need an IPO of some type to facilitate an exit. They’re not ride-or-die partners for GLO to help take GCash to higher and higher heights; they’re specifically designed to push huge sums of money into companies with promising IPO prospects, and then use an eventual IPO to sell out of the company entirely. So with that roster of investors, I fully expect that GLO and its co-investors will push to list GCash sooner rather than later. Until then, though, is anyone else getting tired of hearing GLO talk about it? They’re worse than MVP talking about hospitals and listing the hospitals unit.