Domestic prices of sugar remain “relatively stable” so far this year despite a reported decline due to downward pressure from free trade agreements, according to the Sugar Regulatory Administration.
Sugar producer Roxas Holdings Inc. grew its net profit in the six-month period ending March by 36 percent year-on-year to P205 million on better gross profit margin, lower operating expenses and lower debt burden.
The Philippines is seeking new markets for sugar and bananas to boost agro-based exports, the National Economic and Development Authority (Neda) said.
The Gotianun-led conglomerate Filivest Development Corp. has debuted in the offshore bond market with a warmly received $300-million bond deal that marked a new low in terms of borrowing cost for a Philippine corporate issuer for this tenor.
Roxas Holdings Inc., one of the country’s largest sugar producers, seeks to close within this year a buy-in deal with a strategic investor who may acquire up to 20 percent of the sugar firm.
Sugar firm Victorias Milling Corp. plans to diversify into allied businesses to strengthen operations ahead of a low-tariff regime under the Asean Free Trade Area (Afta) by 2015.
The country’s sugar production is set to exceed expectations as total output has already hit 50 percent of the full-year target, the Sugar Regulatory Administration (SRA) said Monday.
A group of sugar planters is seeking the government’s help in cushioning the impact of the tariff cuts on imported sugar on the local industry.
British Virgin Island-based firm Premier Network International Ltd. has acquired a 24-percent stake in Victorias Milling Corp., becoming the sugar firm’s single largest stockholder.
Sugar conglomerate Roxas Holdings Inc. swung back to profitability in its fiscal year ending September 2012, also chalking up the highest ever profit in its 85-year history.
Leading sugar producer Roxas Holdings Inc. posted a net profit of P751 million from October 2011 to June this year, the first nine months of its fiscal year, reversing the net loss incurred in the same period a year ago.
Leading local sugar producer Roxas Holdings Inc. (RHI) posted a net profit of P668 million in the first eight months of its fiscal year ending in September, more than double its bottom line a year ago.
