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THE Department of Social Welfare and Development (DSWD) is set to deliver more food packs and non-food relief items in areas that are expected to be hit by typhoons and provinces which are anticipated to be heavily affected by the La Niña phenomenon.
AgriNurture [ANI 0.71 unch; 91% avgVol] [link] reported a Q1/24 net loss attributable of P27.8 million, down 1381% from its Q1/23 net income attributable of P2.2 million, and up 83% from its Q4/23 net loss of attributable of P161.6 million. ANI’s total revenue for the quarter was P570 million (down 47% y/y), with the largest drop coming from its “Export” business segment which saw its associated revenue fall 98% to just P6 million. ANI blamed this result to the “reduced volumes of China export clients” for its banana export business. The second-largest drop came from ANI’s “Local Distribution and Others” segment, which saw its associated revenue fall 41% to P80 million. ANI blamed this result on the “rationalization of operations pertaining to the fresh produce and commodities markets”.
DHL is gearing up to meet the anticipated surge in air and ocean freight demand and position itself to cater to the evolving needs of businesses worldwide.
The PSE issued suspensions to three companies [link] prior to the open of trade on Friday morning for failure to submit FY23 Annual Reports. The three companies suspended are Phoenix Petroleum [PNX suspended], Chelsea Logistics [C suspended], and Philippine Infradev [INFRA suspended]. AgriNurture [ANI 0.62 ?8.8%; 305% avgVol] narrowly avoided suspension by submitting its Annual Report 38 minutes before the PSE’s suspension deadline. The ANI FY23 Annual Report disclosure erroneously reports a net income improvement of 1560% to P146 million, instead of a P146 million net loss, perhaps this oversight comes from a behind-the-scenes race to submit before the deadline.MB BOTTOM-LINE: I’m married to an accountant who did the auditing grind for years, so I know that it’s not easy to put these reports together; they’re complex and knock-ons from problems in any of the subsidiaries can cause problems that ripple up the chain and back down. That being said, producing these annual reports is something of a bare minimum condition of public corporate life. Every management group rides its accounting department and its auditing team into the dirt to get its quarterly and annual reports out on time. I don’t have any inside knowledge of why PNX, C, and INFRA are in this position, but I listen to the silence from these management groups. Good teams communicate with their minority shareholders in times of uncertainty, and a trading suspension is a time of great uncertainty for retail investors.
MANILA, Philippines — The Philippine National Police is looking into an attempted data breach in the logistics information system of the PNP.
MANILA, Philippines — Former Southeast Asian Games marathon queen Christine Hallasgo wanted her women’s 10,000-meter victory in the ICTSI Philippine Athletics Championships yesterday to resonate as far as her hometown in Bukidnon where her seven-year-daughter Chrisxiah Mae is.
BUILDHUB.PH, an online platform serving as a centralized system for the construction industry, has been launched to address construction industry challenges, such as manual transactions, limited payment options, and extended delivery times. It aims to streamline and enhance the visibility of construction sellers, especially hardware stores and brands, bolstering their online presence and customer reach.
