Connect with us

Hi, what are you looking for?

Captain Of Success
Top Stories

Stock Markets

A Brown investing P2.5B in Misamis Oriental project

MISAMIS ORIENTAL PROVINCIAL INFORMATION OFFICE OFFICIAL FACEBOOK ACCOUNT

A BROWN Co., Inc. (ABCI) is investing P2.5 billion in the construction of a mixed-use complex under a joint venture agreement with the Misamis Oriental provincial government.

The project will be developed in four phases and is part of an integrated master development plan, the company said in a regulatory filing on Tuesday.

ABCI said the first phase of the project covers three components, which include the development and construction of office spaces, a commercial center, a park, and parking facilities.

The final phase of the project will consist of the development and construction of a multilevel mixed-use building with a dormitory.

The company said it will disclose more information on the final terms and conditions of the project once the joint venture agreement is signed.

ABCI is a Mindanao-based company with interests in sectors such as property, power generation, public utilities, and agribusiness.

For the first nine months, ABCI saw a 40% decline in its net income to P290.82 million from P484.50 million the previous year.

Revenue rose by 31% to P1.45 billion from P1.10 billion a year earlier, led by higher sales of real estate units and agricultural goods such as crude palm oil.

The total cost of sales and services likewise increased by 95% to P761.34 million from P390.23 million the previous year due to higher sales.

ABCI shares fell by 1.75% or one centavo to 56 centavos apiece on Tuesday. — Revin Mikhael D. Ochave

    You May Also Like

    Stock Markets

    Students of the Institute of Civil Engineering of the University of the Philippines Diliman experience what it’s like on-board the Circular Explorer and attend...

    Stock Markets

    THE DEVELOPMENT Bank of the Philippines (DBP) will again request for regulatory relief this year as it seeks to boost its capital position. “Just...

    Stock Markets

    In the photo are (seated L to R) Francisco “Coco” D.C. Mauricio, WeFund Lending Corp. President and CEO; Danilo “Bong” J. Mojica II, UnionDigital...

    Finance

    The Small Business Charter (SBC) has appointed entrepreneur Byron Dixon OBE, founder and chief executive of freshness-technology firm Micro-Fresh, as its new chair. Dixon...

    Disclaimer: CaptainOfSuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.