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.
World No. 1 Scottie Scheffler put the bow on a magical season when he lifted the PGA Tour’s ultimate prize, the FedExCup for the first time at the Playoffs finale, the Tour Championship. His four-stroke triumph made it a grand total of seven victories in 2024, where he was also the gold medal winner at the Paris Olympic Games. This is his blog from East Lake Golf Club, Atlanta.
MANILA, Philippines – The Magnolia Hotshots heated up just in time and dispatched the import-less NorthPort Batang Pier, 105-94, in the PBA Governors’ Cup action Wednesday night at the Smart Araneta Coliseum.
ZURICH, Switzerland – Pole vault king Armand Duplantis beat 400m hurdles master Karsten Warholm in a one-off 100m exhibition race in Zurich on Wednesday.
NEW YORK – Jessica Pegula and Emma Navarro will look to set up an all-American US Open women's final on Thursday (Friday Manila time) after both players overcame serious tests to get to the semifinals.
A small asteroid, officially named 2024 RW1 on Wednesday, made contact with Earth’s atmosphere. The asteroid, roughly 1 meter in diameter, entered over the Philippines near Luzon Island at 4:39 p.m. UTC (12:39 p.m. ET).The European Space Agency (ESA) had been tracking the asteroid, which was initially identified by the Catalina Sky Survey under the designation CAQTDL2.
The PSE approved the Vista Land [VLL 1.46 unch; 204% avgVol] preferred shares sale that could raise up to P5 billion for Manny Villar’s real estate development company [link]. VLL will use the proceeds to refinance P36.4 billion in outstanding debt. BDO [BDO 153.00, up 0.1%; 50% avgVol] is the largest counterparty to VLL’s debt, and its subsidiary, BDO Capital, is the first-listed issue manager for this follow-on offering. The offering is split between Series 2A and Series 2B, with 30 million shares between the two tranches as part of the firm offer and up to an additional 20 million between the two tranches as part of an over-allotment option. VLL will price the deal today. The offer period will run from September 16 through September 25, with a listing on October 4.
Philippine Infradev [INFRA 0.54, up 1.9%; 3000% avgVol] [link] gained 1.9% yesterday after the PSE lifted the company’s suspension for reporting failures. INFRA had been suspended on May 17 for its failure to submit its FY23 Annual Report and Q1/24 Quarterly Report, but had its suspension lifted after the company submitted both to the exchange. INFRA is developing the Makati City Subway project which was deemed “infeasible” by the court system’s ruling on the border conflict between Taguig and Makati.
Meralco [MER 402.80, down 1.3%; 65% avgVol] [link] subsidiary, Meralco PowerGen Corp. (MGen), signed a deal to acquire an additional 5.8 billion shares of SP New Energy [SPNEC 1.29, up 1.6%; 265% avgVol] from Leandro Leviste’s Solar Philippines Power Project Holdings (SPPPH) for P7.5 billion (~P1.29/share). Once completed, the transaction will give MGen a 50.5% stake in SPNEC. This will allow MGen and MER to integrate SPNEC’s financial statements. This transaction will reduce SPPPH’s stake in SPNEC to 29.4%. SPNEC’s share price is up 25% over the past month and up 17% over the past week. Meralco [MER 402.80, down 1.3%; 65% avgVol] [link] subsidiary, Meralco PowerGen Corp. (MGen), signed a deal to acquire an additional 5.8 billion shares of SP New Energy [SPNEC 1.29, up 1.6%; 265% avgVol] from Leandro Leviste’s Solar Philippines Power Project Holdings (SPPPH) for P7.5 billion (~P1.29/share).