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Phinma unit gets stake in gas-rich SC50

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Newly listed Trans-Asia Petroleum Corp. (Tapet) of the Phinma Group has formalized its acquisition of a minority stake in gas-rich Service Contract 50 (SC50) in offshore Palawan from Frontier Oil Corp.

Posted: October 17th, 2014 in Headlines | Read More »

MG buys Cebu seafood firm

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Holding firm Millennium Global Holdings Inc. (MG)—formerly information technology firm IPVG Corp.—is taking in a new investor and acquiring a Cebu-based seafood exporter.

Posted: October 16th, 2014 in Headlines | Read More »

Union Bank moves closer to a decision on EIB’s fate

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Aboitiz-led Union Bank of the Philippines expects to complete within this month its due diligence audit on defunct Export and Industry Bank (EIB), for which it had submitted a proposal to come in as a “white knight.”

Posted: October 15th, 2014 in Headlines | Read More »

Taiwan insurer buys 20% of RCBC for P18B

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Cathay Life Insurance Co. Ltd., Taiwan’s largest life insurer, is buying a 20-percent stake in Yuchengco-led Rizal Commercial Banking Corp. for P17.92 billion, boosting the local bank’s capital build-up program.

Posted: October 2nd, 2014 in Latest Business Stories | Read More »

Travellers to develop $1.1B casino project

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Travellers International Hotel Group Inc., which operates the Resorts World Manila integrated casino in Pasay City, is formally taking over the development of a $1.1-billion integrated casino project in Entertainment City.

Posted: September 25th, 2014 in Editor's Pick,Headlines | Read More »

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