Latest news with #Cavite
Forbes
6 days ago
- Business
- Forbes
Billionaire Anthoni Salim-Backed Maynilad Water To Raise $694 Million From Philippine IPO
A Maynilad water treatment facility. Courtesy of Maynilad Water Maynilad Water Services—controlled by Indonesian billionaire Anthoni Salim-backed Metro Pacific Investment—will raise 38.6 billion pesos ($694 million) from its IPO. Under the IPO, which was approved by the Securities and Exchange Commission on Friday, Maynilad Water will sell 1.9 billion shares in a primary offering at 20 pesos apiece. The maiden share sale includes an over allotment option of up to 249 million shares and a preferential offer of up to 24.9 million shares. Maynilad Water—which provides water utility services to 17 cities and municipalities in western Metro Manila and parts of Cavite province, south of the capital—will use the IPO proceeds to upgrade its facilities and expand its water output. Apart from the sale of primary shares, Maynilad Water Holding—which counts Metro Pacific, tycoon Isidro Consunji's DMCI Holdings and Japan's Marubeni Corp. among its shareholders—will sell 354.7 million shares at the IPO price, raising an additional 7.1 billion pesos in a secondary offering. The offer period will run from July 3 to 9, with listing on the main board of the Philippine Stock Exchange scheduled on July 17, the SEC said. It will be the largest Philippine IPO since the listing of instant noodle giant Monde Nissin, which raised $1.1 billion in a maiden share sale in 2021. BPI Capital, HSBC, Morgan Stanley and UBS are the IPO's joint global coordinators and joint bookrunners, according to the statement. Maynilad Water's net profit rose 17% to 3.6 billion pesos in the first quarter as sales rose 6% to 8.6 billion pesos. It reported a record full-year net profit of 12.8 billion pesos in 2024. Metro Pacific, which is helmed by tycoon and CEO Manuel Pangilinan and taken private in 2023, also has interests in hospitals, tollroads, agriculture, as well as electricity generation and distribution. Outside of Metro Pacific, Salim's First Pacific also has stakes in Philippine telecom giant PLDT and Philex Mining Corp. With a net worth of $12.8 billion, Salim and his family are among the richest in Indonesia. The family also has stakes in Infofood, Indonesia's largest noodle maker, as well as banking, retail and coal and his siblings had a networth of $3.4 billion, the fifth richest in the Philippines. DMCI, which started as a construction company founded by his father in 1954, has expanded to coal and nickel mining, residential development, power generation and cement manufacturing.
Malay Mail
13-05-2025
- Automotive
- Malay Mail
VinFast collaborates with four Philippine partners for robust service network expansion
VinFast announced the official signing of collaboration agreements with four reputable partners in the Philippines, aiming to establish more than 100 electric vehicle service workshops this year. MANILA, PHILIPPINES - Media OutReach Newswire - 13 May 2025 -VinFast today announced the official signing of collaboration agreements with four reputable partners in the Philippines: Goodyear Philippines, Tire King and Rubber Products, Power Tread Services, and Marcjan Cavite. These partnerships are expected to play a key role in helping VinFast reach its goal of establishing over 100 authorized service workshops across the Philippines in the newly signed Memorandums of Understanding (MOUs) and Service Level Agreements (SLAs), VinFast will collaborate with four experienced partners operating service centers across the Philippines to provide maintenance, repair, and electric vehicle care services in accordance with the Company's global VinFast and Goodyear Philippines will work closely with the goal of establishing 50 authorized VinFast service workshops in 2025. Similarly, Marcjan Cavite is expected to open eight workshops, while Tire King and Power Tread will each establish authorized VinFast service workshops in the Philippines will adhere to stringent standards regarding facilities, machinery, equipment, and the professional qualifications of the technical teams. They will also prioritize the provision of genuine services and parts for VinFast vehicle part of this collaboration, VinFast is committed to supporting its partners through personnel training programs, technical consultation, and experience sharing, aiming to rapidly expand the network of authorized service latest agreements - combined with previous MOUs signed with JIGA and Motech - will serve as a crucial stepping stone for VinFast to accelerate the development of its electric vehicle ecosystem in the Philippines, enhancing the after-sales experience for a year since its market entry in the Philippines, VinFast has steadily expanded its presence with its portfolio of smart EV models, attractive sales offerings, and a continuously refined after-sales support system. Across Southeast Asia, VinFast is actively pursuing the development of a comprehensive "For a Green Future" ecosystem, placing a strong emphasis on collaborative growth of charging infrastructure and service networks. This framework, established successfully in Vietnam, is now being extended to promising markets such as the #VinFast The issuer is solely responsible for the content of this announcement. About VinFast VinFast (NASDAQ: VFS), a subsidiary of Vingroup JSC, one of Vietnam's largest conglomerates, is a pure-play electric vehicle ("EV") manufacturer with the mission of making EVs accessible to everyone. VinFast's product lineup today includes a wide range of electric SUVs, e-scooters, e-bikes, and e-buses. VinFast is currently embarking on its next growth phase through rapid expansion of its distribution and dealership network globally and increasing its manufacturing capacities with a focus on key markets across North America, Europe and Asia. Learn more at About Goodyear Philippines Building on a strong global legacy, Goodyear Philippines is one of the country's oldest and most trusted tire brands, operating since 1919. With the largest tire dealer network in the Philippines—comprising 84 service workshops nationwide—Goodyear offers a wide range of tire solutions, professional after-sales services, and advanced technologies for both personal and commercial vehicles. About Marcjan Cavite With 33 years of experience, Marcjan Cavite is a leading automotive service provider in Cavite province, offering a comprehensive range of services including wheel alignment, engine diagnostics, underchassis repairs, brake services, and transmission maintenance. The company currently operates six branches in Cavite, with plans to open two more, and is also exploring expansion into EV charging and vehicle dealership operations. About Power Tread Services Founded in 1995, Power Tread Services operates as a one-stop-shop automotive center, offering everything from tires, lubricants, and batteries to spare parts and mechanical repairs. The company runs seven branches across Bulacan, Tarlac, and Pampanga, serving customers across Central Luzon. About Tire King and Rubber Products With over 30 years of experience, Tire King and Rubber Products is a trusted family-run business specializing in automotive care in the Philippines. It currently operates two service centers in Antipolo and Marikina, providing services such as wheel alignment, tire balancing, underchassis maintenance, and fuel injector cleaning, with expansion underway into southern Metro Manila.
Zawya
13-05-2025
- Automotive
- Zawya
VinFast collaborates with four Philippine partners for robust service network expansion
MANILA, PHILIPPINES - Media OutReach Newswire - 13 May 2025 - VinFast today announced the official signing of collaboration agreements with four reputable partners in the Philippines: Goodyear Philippines, Tire King and Rubber Products, Power Tread Services, and Marcjan Cavite. These partnerships are expected to play a key role in helping VinFast reach its goal of establishing over 100 authorized service workshops across the Philippines in 2025. Under the newly signed Memorandums of Understanding (MOUs) and Service Level Agreements (SLAs), VinFast will collaborate with four experienced partners operating service centers across the Philippines to provide maintenance, repair, and electric vehicle care services in accordance with the Company's global standards. Specifically, VinFast and Goodyear Philippines will work closely with the goal of establishing 50 authorized VinFast service workshops in 2025. Similarly, Marcjan Cavite is expected to open eight workshops, while Tire King and Power Tread will each establish seven. These authorized VinFast service workshops in the Philippines will adhere to stringent standards regarding facilities, machinery, equipment, and the professional qualifications of the technical teams. They will also prioritize the provision of genuine services and parts for VinFast vehicle owners. As part of this collaboration, VinFast is committed to supporting its partners through personnel training programs, technical consultation, and experience sharing, aiming to rapidly expand the network of authorized service workshops. These latest agreements - combined with previous MOUs signed with JIGA and Motech - will serve as a crucial stepping stone for VinFast to accelerate the development of its electric vehicle ecosystem in the Philippines, enhancing the after-sales experience for customers. Mr. Pham Sanh Chau, CEO of VinFast Asia, shared:"The collaboration with experienced and insightful local players in the Philippines is a clear testament to VinFast's enduring commitment to developing a comprehensive electric vehicle ecosystem here. T his marks the beginning of promising partnerships, laying a solid foundation for VinFast to better serve customers and promote a green lifestyle throughout the nation." Nearly a year since its market entry in the Philippines, VinFast has steadily expanded its presence with its portfolio of smart EV models, attractive sales offerings, and a continuously refined after-sales support system. Across Southeast Asia, VinFast is actively pursuing the development of a comprehensive "For a Green Future" ecosystem, placing a strong emphasis on collaborative growth of charging infrastructure and service networks. This framework, established successfully in Vietnam, is now being extended to promising markets such as the Philippines. Hashtag: #VinFast The issuer is solely responsible for the content of this announcement. About VinFast VinFast (NASDAQ: VFS), a subsidiary of Vingroup JSC, one of Vietnam's largest conglomerates, is a pure-play electric vehicle ("EV") manufacturer with the mission of making EVs accessible to everyone. VinFast's product lineup today includes a wide range of electric SUVs, e-scooters, e-bikes, and e-buses. VinFast is currently embarking on its next growth phase through rapid expansion of its distribution and dealership network globally and increasing its manufacturing capacities with a focus on key markets across North America, Europe and Asia. Learn more at About Goodyear Philippines Building on a strong global legacy, Goodyear Philippines is one of the country's oldest and most trusted tire brands, operating since 1919. With the largest tire dealer network in the Philippines—comprising 84 service workshops nationwide—Goodyear offers a wide range of tire solutions, professional after-sales services, and advanced technologies for both personal and commercial vehicles. About Marcjan Cavite With 33 years of experience, Marcjan Cavite is a leading automotive service provider in Cavite province, offering a comprehensive range of services including wheel alignment, engine diagnostics, underchassis repairs, brake services, and transmission maintenance. The company currently operates six branches in Cavite, with plans to open two more, and is also exploring expansion into EV charging and vehicle dealership operations. About Power Tread Services Founded in 1995, Power Tread Services operates as a one-stop-shop automotive center, offering everything from tires, lubricants, and batteries to spare parts and mechanical repairs. The company runs seven branches across Bulacan, Tarlac, and Pampanga, serving customers across Central Luzon. About Tire King and Rubber Products With over 30 years of experience, Tire King and Rubber Products is a trusted family-run business specializing in automotive care in the Philippines. It currently operates two service centers in Antipolo and Marikina, providing services such as wheel alignment, tire balancing, underchassis maintenance, and fuel injector cleaning, with expansion underway into southern Metro Manila. VinFast
Filipino Times
10-02-2025
- Entertainment
- Filipino Times
PH wins second Reina Hispanoamericana crown in Bolivia
Dia Maté brought home the second Reina Hispanoamericana 2025 crown for the Philippines. Maté's win came eight years after Winwyn Marquez won the 2017 edition of the pageant. Meanwhile, the Philippines' bet in 2023, Michelle Arceo, finished as second runner-up. Her performance in the pageant made her a formidable competitor. She won the Best National Costume (Mejor Traje Típico) award. Her national costume named 'Banaag' was inspired by the Baroque churches in the Philippines and was created by Filipino fashion designer Ehrran Montoya. During the awards night, the 2024 titleholder, Peru's Maricielo Gamarra, crowned the Filipina beauty queen. Maté became the Philippine representative to the pageant in July 2024 at the Miss World Philippines 2024 coronation night. She also represented Cavite in Miss Universe Philippines 2024. Meanwhile, here are the runner-ups of Reina Hispanoamericana 2025: 1st Runner-Up: Sharon Gamarra, Colombia 2nd Runner-Up: Carolina Barroso, Spain 3rd Runner-Up: Nikita Palma, Peru 4th Runner-Up: Julia de Castro, Brazil 5th Runner-Up: Zuzana Balonek, Poland The Reina Hispanoamericana pageant, established in 1991, was held in Bolivia. It featured over twenty contestants from countries with Hispanic influence.
