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ACEN 9M net income: P6.6-B (UP 59% y/y) - philstar.com - Philippines - Indonesia

ACEN 9M net income: P6.6-B (UP 59% y/y)

ACEN [ACEN 5.19, down 2.1%; 115% avgVol] [link] teased its Q3 and 9M results, headlined by a 9M consolidated net income of P6.6 billion (+59% y/y), boosted largely by the sale of ACEN’s interest in two geothermal power plants in Indonesia. Consolidated revenues for the period were up 13% to P28.6 billion, with “core operating earnings” up 100% thanks to new operational capacity coming online and ACEN’s “shift to a set selling merchant” in 2023. ACEN did warn that its Q3 operating earnings dipped due to scheduled plant maintenance and seasonably low wind and spot electricity prices, but added that it was able to maintain its position as a net seller thanks to the new capacity that came online this year. ACEN reported that its attributable renewables output was up 27% to 3,174 gigawatt-hours.

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Rodrigo Duterte - 546 ARBS receive their CLOA titles from DAR Region II - dar.gov.ph - Israel - province Cagayan - city Sangguniang

546 ARBS receive their CLOA titles from DAR Region II

Agrarian Secretary Bernie F. Cruz led the ceremonial turnover of Certificates of Land Ownership Award (CLOAs) to a total of 546 Agrarian Reform Beneficiaries (ARBs) in Cagayan that covered a total of 560.1862 hectares of land in the province held at the Multi- Purpose Gymnasium, Lallo, Cagayan.

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Unprecedented family financial support for Monde's meat alternative business - philstar.com - Singapore

Unprecedented family financial support for Monde's meat alternative business

Monde Nissin [MONDE 7.90 unch; 79% avgVol] [link] announced a bizarre and remarkable commitment from Henry Soesanto, MONDE’s CEO, and the rest of MONDE’s controlling shareholders, to offer a one-time cash “top-up” to reduce the net cumulative impairment of Monde Nissin Singapore Pte. Ltd., MONDE’s wholly-owned subsidiary that holds MONDE’s struggling alternative meat business. The commitment will begin for any impairment starting in FY23, and carry through for 10 years for any impairments through FY32, with that one-time payment coming on or before June 30, 2033. The amount of this commitment is capped at 12% of the value of MONDE’s outstanding shares, based on a weighted average of the last five trading days of 2032. The commitment will automatically expire if MONDE ceases to control the entities holding MONDE’s alternative meat assets. The amount of the commitment will also be pro-rated if MONDE retains control of the alternative meat assets but sells a portion of the business to another investor or group of investors. As of yesterday’s closing price, the value of the shares pledged is approximately P17 billion.

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Monde Nissin ownership group offers to personally backstop Quorn losses for 10 years, but... - philstar.com - Singapore

Monde Nissin ownership group offers to personally backstop Quorn losses for 10 years, but...

Monde Nissin [MONDE 7.90 unch; 79% avgVol] [link] announced a bizarre and remarkable commitment from Henry Soesanto, MONDE’s CEO, and the rest of MONDE’s controlling shareholders, to offer a one-time cash “top-up” to reduce the net cumulative impairment of Monde Nissin Singapore Pte. Ltd., MONDE’s wholly-owned subsidiary that holds MONDE’s struggling alternative meat business. The commitment will begin for any impairment starting in FY23, and carry through for 10 years for any impairments through FY32, with that one-time payment coming on or before June 30, 2033. The amount of this commitment is capped at 12% of the value of MONDE’s outstanding shares, based on a weighted average of the last five trading days of 2032. The commitment will automatically expire if MONDE ceases to control the entities holding MONDE’s alternative meat assets. The amount of the commitment will also be pro-rated if MONDE retains control of the alternative meat assets but sells a portion of the business to another investor or group of investors. As of yesterday’s closing price, the value of the shares pledged is approximately P17 billion.

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Disney+ adds subscribers amid cost-cutting campaign - philstar.com - Usa - San Francisco, Usa - Disney

Disney+ adds subscribers amid cost-cutting campaign

SAN FRANCISCO, United States — Disney's streaming service has attracted nearly seven million new subscribers, the company said Wednesday, reversing a period of decline that had raised doubts about its rivalry with industry leader Netflix.

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VIRTUAL REALITY - Going digital - philstar.com - Philippines

Going digital

When Edwin R. Bautista became the president and CEO of UnionBank in 2018, he saw the future of the bank. It had to go digital. UB must not only grow. It must grow big. It must not only be big, it must be better. It must be the first and the best in things digital – for the benefit of the consumer and the people.

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Genivi Verdejo - Contecon Manzanillo handles record volume on a single vessel call - manilatimes.net - Usa - Mexico - city Mexico

Contecon Manzanillo handles record volume on a single vessel call

CONTECON Manzanillo S.A. (CMSA), a subsidiary of International Container Terminal Services Inc. (ICTSI), made a new milestone with its handling of 14,400 TEUs during the recent call of the CMA CGM vessel APL Vanda.

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Iris Gonzales - Asia - Ayala Land’s Dy one of 2023 Asia Power Businesswomen - philstar.com - Philippines - region Asia-Pacific - city Manila, Philippines

Ayala Land’s Dy one of 2023 Asia Power Businesswomen

MANILA, Philippines — Forbes Asia has named Anna Ma. Margarita Dy, the first female president and chief executive officer (CEO) of property giant Ayala Land Inc., as one of its 2023 Asia’s Power Businesswomen.

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