Balita.org: Your Premier Source for Comprehensive Philippines News and Insights! We bring you the latest news, stories, and updates on a wide range of topics, including politics, culture, economy, and more. Stay tuned to know everything you wish about your favorite stars 24/7.
MANILA, Philippines — Hindi sapat para sa mga progresibo at human rights advocates ang hatol ng korte sa pagkamatay ng 17-anyos na mangingisda sa kamay ng kapulisan — bagay na pare-parehong nakalusot sa "murder."
MANILA, Philippines — The police and military have cried foul over allegations that the five New People’s Army (NPA) rebels killed in a shootout in Bilar, Bohol last week were victims of torture and extrajudicial killing.
COTABATO CITY, Philippines — Agents of the Philippine Drug Enforcement Agency-Bangsamoro Autonomous Region in Muslim Mindanao shut another drug den Monday, seized P102,000 worth of shabu from its operator and three accomplices, now awaiting prosecution.
The Senate Committee on Women, Children, Family Relations and Gender Equality is conducting an investigation in aid of legislation, and it has the power to compel the attendance of witnesses - no matter how well-connected they are.
The PSE gave notice on Friday that Cebu Holdings [CHI suspended] would be delisted on March 1 [link]. CHI has been suspended since December 2021 when the company was merged with Ayala Land [ALI 35.60, down 4.3%] and ceased to exist once the merger became effective. Earlier last week, the ALI shares that were issued to CHI shareholders as payment for the company were listed, paving the way for CHI’s ticker symbol to be delisted from the PSE’s registry.
AREIT [AREIT 35.10 unch] held an analyst briefing, and as these things usually go, the AREIT management team took questions from analysts at the end. Here are some of the interesting takeaways from the question period. (1) AREIT’s CEO Carol Mills said that the asset-for-share swap is “the most efficient mechanism” for portfolio growth, but that they would consider acquiring assets with debt “when interest rates are better.” (2) Ms. Mills said that in FY23, AREIT’s average cost of debt was just 3.14% (which she described as “low” due to the bonds that expired in December), but that its current cost of debt has risen to “about 5.8%” (which she referred to as the re-financed rate). (3) The asset mix of AREIT’s portfolio of assets will likely mimic that of its sponsor, Ayala Land [ALI 35.60, down 4.3%]. Ms. Mills said that AREIT is “dominant with offices” right now, but that they “project to have more malls, hotels, and possibly more industrial assets” in the next “two to three years.”
MerryMart [MM 1.02, down 1.0%] [link], the grocery and consumer products chain founded by Injap Sia, said in a press release that it has updated its 2030 VISION goal from P120 billion in annual consolidated systemwide sales revenue to P150 billion. This is a 25% increase from the previous target, and 560% larger than MM’s annualized Q3 consolidated systemwide sales figure (P5.68 billion annualized to P22.7 billion). MM didn’t specify the reasons for increasing the goal but did provide various operational updates that seemed positive, such as hitting 200,000 registered members for MerryMart Wholesale. MM also said that it is nearing completion of its new two-hectare distribution center in Laguna. MM said that its goal is to make the MM Wholesale ECommerce platform available “in all 82 provinces of the Philippines”, with a consumer market coverage goal of 99%.
Senator Win Gatchalian said a proposed measure that seeks to establish Philippine maritime zones is expected to strengthen the country's claim over the West Philippine Sea as the Senate approved on third and final reading the proposed legislation.