Published January 12, 2021, 1:30 PM
The Philippine Stock Exchange, Inc. and the Philippine Dealing System Holdings Corporation have expressed strong support for the passage of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Bill.
The CREATE Bill is another landmark bill in a series of reform measures intend to institute much-needed improvements in the tax system.
“The PSE and PDS believe that the immediate lowering of the corporate income tax to 25 percent effective July 1, 2020, will make the country’s tax rates more competitive vis-a-vis its peers in the ASEAN region and make the Philippines an attractive investment destination and the domestic capital market a viable venue for fundraising,” said the PSE and PDS in a joint statement.
The Securities and Exchange Commission (SEC) has green-lighted the country’s first crowdfunding platform that will connect small, medium and emerging enterprises with banks and other lenders.
A joint venture between Filinvest Development Corporation and Investree Singapore Pte. Ltd., Investre
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Philippine Rating Services Corporation (PhilRatings) added that the assigned rating has a Stable Outlook.
SBCorp is the government financial institution (GFI) tasked by Republic Act (RA) 9501 to implement various programs that would assist micro, small and medium enterprises (MSMEs) in all areas, including finance and information services, training and marketing.
A company rated PRS A (corp.) is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than higher-rated corporates.
Still, the obligor has an above average capacity to meet its financial commitments relative to that of other Philippine corporates. A Stable Outlook means the rating is likely to be maintained in the next 12 months.
Published December 17, 2020, 6:00 AM
Fruitas Holdings reported a special block sale of P50 million worth of its shares by a high net worth individual investing in the company’s high growth potential.
In a disclosure to the Philippine Stock Exchange, the firm said the buyer is businessman Jefferson Y. Ngo, belonging to the family that owns Solanda Enterprises which also owns the JT Centrale community mall in Sta. Cruz, Manila.
Ngo acquired 25 million Fruitas shares at P2 per share, a 20.5 percent premium to the closing price on December 15.
The shares were acquired from Lush Properties Inc. which is 97 percent-owned by Fruitas founder and President Lester Yu.