National Reinsurance Corporation of the Philippines
Press Release
National Reinsurance Corporation Receives Strong Financial Strength Rating
National Reinsurance Corporation of the Philippines (NRCP) has been assigned a financial strength rating of PRS A plus with a Stable Outlook by Philippine Rating Services Corporation (PhilRatings). This rating reflects NRCP's solid market position and strong financial metrics, which are crucial for its operations as the sole professional reinsurer in the country.
SM Prime Holdings Delivers New PEZA-Accredited Office Tower in Quezon City
SM Prime Holdings, Inc. announced the completion of North Tower 3, a PEZA-accredited office tower in Quezon City, adding approximately 31,000 square meters of office space. This development is significant as it addresses the limited supply of PEZA-accredited office spaces in Metro Manila amid strong demand.
Manulife Financial Corporation Announces Interest Rate Reset on Limited Recourse Capital Notes Series 1
Manulife Financial Corporation has announced a reset of the interest rate on its Limited Recourse Capital Notes Series 1 to 5.88300% per annum for the period from June 19, 2026, to June 19, 2031. This adjustment is significant as it reflects the company's ongoing financial management and obligations to noteholders.
Megaworld Sells Out Residential Villages in Metro Manila and Key Provinces
Megaworld Corporation reported strong sales performance, selling out residential lots in four villages across Metro Manila and key provinces, generating total sales revenues of approximately P28 billion. This reflects sustained demand for its horizontal residential developments.
Alliance Select Foods Reports 2025 Results with Increased Revenues but Net Loss
Alliance Select Foods International, Inc. reported net revenues of US$78.8 million for 2025, a 9% increase from the previous year. However, the company also recorded a net loss of US$1.77 million, highlighting challenges in profitability despite revenue growth.
SSI Group Recognized on Fortune Southeast Asia 500 List for the 3rd Consecutive Year
SSI Group, Inc. has been included in the Fortune Southeast Asia 500 list for the third consecutive year, highlighting its position among the largest companies in the region by revenue. This recognition underscores the company's resilience and commitment to growth in the Philippine retail sector.
DoubleDragon Corporation Founder Updates Shareholders on MM Acquisition and Future Vision
DoubleDragon's founder announced that nearly 99% of MM shareholders tendered their shares in exchange for a combination of cash and DD shares. The message outlines the company's ambitious growth targets, aiming for a revenue increase of 1,800% by 2035.
MerryMart Shareholders Tender 99% of Shares in Exchange for DD Shares
MerryMart's founder announced that nearly 99% of shareholders have tendered their shares in exchange for DoubleDragon shares at a valuation of Php 9.30 each. This acquisition is part of a strategic move to integrate MerryMart into the DoubleDragon ecosystem, aiming for long-term operational efficiencies.
Ayala Corporation Acquires 35 Million Shares of Ayala Land
Ayala Corporation has purchased 35,000,000 common shares of Ayala Land, Inc. at an average price of PHP 13.07 per share. This acquisition represents a significant investment in one of its subsidiaries.
Sun Life Financial Inc. Announces Offering of $750 Million Subordinated Unsecured Debentures
Sun Life Financial Inc. plans to issue $750 million principal amount of Series 2026-1 Subordinated Unsecured 4.21% Fixed/Floating Debentures due 2038. The offering is expected to close on June 19, 2026, with proceeds intended for general corporate purposes, which may include investments in subsidiaries and repayment of indebtedness.
SM Prime Holdings, Inc. Nears Turnover of Balea Suites at Pico Terraces
SM Prime Holdings, Inc. is set to complete the turnover of Balea Suites within the Pico Terraces development by the fourth quarter of 2027. The project has seen strong market reception, with most units already taken up, highlighting its appeal among buyers seeking upscale coastal living.
Citicore Renewable Energy Corporation Declares First Cash Dividends
Citicore Renewable Energy Corporation has declared cash dividends of Php 250 million, marking its first dividend since its public listing in June 2024. This reflects the company's strong earnings performance and commitment to rewarding shareholders while pursuing growth in renewable energy.
Cirtek Holdings Announces Sale of Quintel Business for US$5.3 Million
Cirtek Holdings Philippines Corporation has executed an Asset Purchase Agreement to sell its antenna solutions business, Quintel USA, Inc., to John Mezzalingua Associates, LLC for a total of US$5.3 million. This transaction is part of the company's strategy to optimize its portfolio and focus on higher growth opportunities.
Vitarich Corporation Recognized for Environmental Partnership
Vitarich Corporation was recognized by the DENR-EMB Region III for its commitment to the Adopt-an-Estero/Waterbody Program, highlighting its efforts in waterbody rehabilitation and environmental stewardship. This recognition underscores the company's active role in sustainability initiatives.
Wilcon Depot, Inc. Holds Successful 2026 Annual Stockholders' Meeting
Wilcon Depot, Inc. successfully held its 2026 Annual Stockholders' Meeting, where shareholders elected a new board of directors, ratified the appointment of external auditors, and approved amendments to the company's Articles of Incorporation. This meeting reflects the company's ongoing commitment to governance and operational excellence.
Cebu Air, Inc. released its traffic performance report for May 2026, showing a year-to-date increase in passenger numbers by 4.6% compared to the same period last year. The report indicates improvements in domestic passenger numbers and overall seat load factors despite a challenging economic environment.
Philippine Airlines Receives First-Time 'BB' Rating from Fitch
Philippine Airlines has been assigned a first-time 'BB' Long-Term Issuer Default Rating (IDR) with a Stable Outlook by Fitch Ratings. This rating reflects the airline's improved business profile and financial position, which is significant for its operational credibility and potential for future growth.
DoubleDragon's Hotel101-Madrid Achieves 100% Occupancy in Third Month of Operations
DoubleDragon Corporation announced that its Hotel101-Madrid has reached 100% occupancy on June 10, 2026, just three months after its opening on March 10, 2026. The hotel generated over $2.3 million USD (approx ₱141 million pesos) in recurring room revenues in the past 30 days, indicating strong market demand.
Global Ferronickel Holdings' Legal Team Wins at 2026 ALB Southeast Asia Law Awards
Global Ferronickel Holdings, Inc. announced that its Legal and Regulatory Affairs Group received recognition at the 2026 ALB Southeast Asia Law Awards, winning the In-House Team of the Year for Construction and Real Estate. This acknowledgment reflects the team's contributions to governance and regulatory compliance within the company.
Security Bank Announces Leadership Transition in Wholesale Banking
Security Bank Corporation has announced a leadership transition within its Wholesale Banking division. This change may impact the strategic direction and operational management of this key segment of the bank.
