Richmond Mercurio

Philippines

Business Reporter at The Philippine Star

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Articles

Jollibee keen on winning North American market

6 days ago | philstar.com | Richmond Mercurio

MANILA, Philippines — Homegrown fast-food chain Jollibee is confident that it can win the quick service restaurant (QSR) battle in the North American market which is currently dominated by industry giants such as McDonald’s, KFC and Popeyes. Jollibee Foods Corp.
Clark-based casino resort eyes P13 billion from IPO

6 days ago | philstar.com | Richmond Mercurio

MANILA, Philippines — Hann Holdings Inc., the company behind the Hann Casino Resort in Pampanga, is targeting to raise as much as P12.98 billion in what could potentially be the country’s third initial public offering (IPO) for this year. Based on the company’s preliminary prospectus dated May 30, 2025, Hann Holdings is targeting to issue a total of 550 million shares priced at up to P23.60 each.
Inflation in focus this week

6 days ago | philstar.com | Richmond Mercurio

MANILA, Philippines — Investors will keep an eye on local inflation data this week as the stock market hopes to put an end to its struggle in sustaining momentum of moving past the 6,500 mark. The benchmark Philippine Stock Exchange index (PSEi) closed in the red last Friday at 6,341.53, down by 1.12 percent week-on-week.
SEC revokes corporate registration of Cyfle

1 week ago | philstar.com | Richmond Mercurio

MANILA, Philippines — The Securities and Exchange Commission (SEC) has revoked the corporate registration of a management consultancy services company for illegal investments activities. The SEC Enforcement and Investor Protection Department canceled the corporate registration of Cyfle OPC for violating Section 44 of the Revised Corporation Code, which prohibits corporations from possessing or exercising corporate powers beyond what is conferred on it by law or by its articles of incorporation.
US sanctions Philippines-based cyber scam facilitator

1 week ago | philstar.com | Richmond Mercurio

MANILA, Philippines — A Philippine-based company that allegedly serves as a cyber scam facilitator has been sanctioned by the US Department of Treasury. In a statement, the US Treasury said that Funnull Technology Inc.
Share prices tumble amid renewed tariff concerns

1 week ago | philstar.com | Richmond Mercurio

MANILA, Philippines — Share prices tumbled yesterday amid renewed uncertainties over the reciprocal tariffs of US President Donald Trump. The Philippine Stock Exchange index (PSEi) finished the week in the red territory, shedding 1.11 percent or 71.28 points to 6,341.53. The broader All Shares index likewise fell by 0.79 percent or 29.48 points to settle at 3,723.62. “The PSEi declined as investors reacted to legal uncertainty over President Trump’s reciprocal tariffs.
SEC clears FILRT’s asset-for-share swap for Festival Mall

1 week ago | philstar.com | Richmond Mercurio

MANILA, Philippines — The Securities and Exchange Commission (SEC) has cleared the P6.26 billion valuation for the property-for-share swap transaction between Filinvest Land Inc. (FLI) and its real estate investment trust Filinvest REIT Corp. FILRT said it has received from the SEC the certificate of approval of valuation for its property-for-share swap with FLI.
RRHI buys back stake from minority shareholder for P15.77 billion

1 week ago | philstar.com | Richmond Mercurio

MANILA, Philippines — Gokongwei-owned Robinsons Retail Holdings Inc. (RRHI) has bought back shares held by GCH Investments Pte. Ltd. in the company for P15.77 billion. In a stock exchange filing, RRHI said it has reacquired 315.31 million common shares, representing 22.2 percent of common shares belonging to GCH, at P50 apiece under a special block sale.
Kepwealth extends tender offer for KPH shares

1 week ago | philstar.com | Richmond Mercurio

MANILA, Philippines — Kepwealth Inc. has extended its tender offer for all outstanding common shares of Keppel Philippines Holdings Inc. (KPH) to next month as part of the latter’s voluntary delisting from the Philippine Stock Exchange. The tender offer of Kepwealth, which owns 89.86 percent of KPH, l was originally scheduled to end on May 27, 2025.
Global investment firm acquires 5% stake in URC

1 week ago | philstar.com | Richmond Mercurio

MANILA, Philippines — Global investment firm The Capital Group Companies Inc. (CGC) has acquired a five percent stake in Gokongwei-led food and beverage firm Universal Robina Corp. (URC). A disclosure by the group, through its secretary Christopher Burt, said CGC management companies have purchased 108.11 million shares in URC equivalent to 5.05 percent. The shares were purchased between May 2, 2025 and May 20, 2025 at a price ranging from P84.09 to P92.46 per share.