CHICAGO – Developments in artificial intelligence (AI) are accelerating at exponential rates, and companies are expected to adopt AI at a faster pace in the next few months, according to data activation company Boomi.

“I think we are going to start seeing enterprise-wide adoption of AI. I think we’ve reached a point where we understand the risks, we understand the value,” Dan McAllister, senior vice president of global alliances and channels at Boomi, told 大象传媒 on the sidelines of Boomi World here on May 13.

“We understand the cost model. And it’s matured enough where companies can actually start making real decisions based on RoI (return on investment), based on risk profile, based on tasks that they want to have accomplished,” he added.

Mr. McAllister said Boomi’s role is to help companies achieve all these things as it provides a strategic foundation for integration, application programming interfaces (API), data, automation, and agentic AI.

“I think technology has caught up to the outcomes that customers want to achieve. We’ve seen enough to now take some action. You’re going to see some people take some bets and put this out in the market. Of course, there will be those that left behind. There will be ones that go too fast. But we’re going to start seeing some real success,” he said.

As VP for global alliances and channels, Mr. McAllister’s role is to manage the company’s go-to-market partnerships and commercialized partnerships. This includes systems integrator relationships, product alliances, and OEM (original equipment manufacturer) partners that package Boomi within their own solutions.

Boomi currently has around 300 OEM partners, and around 400 active systems integration partners.

Mr. McAllister said Boomi is already a very successful company with hundreds of partners that were successful in their go-to-market strategy.

“I felt that we could leverage that as well as modify it a bit to really help the business grow… Our win rate is three times of what it is when we work alone. And so it’s when you think about what kind of an impact a partner can have, that’s pretty impressive,” he said.

In selecting partners, Mr. McAllister said Boomi is looking for companies that are “bringing value to their customers and are essentially winning on their own”.

“But we can provide value to them within their go-to-market strategy,” he added.

For systems integration partners, he said they are looking for those with technical or industry expertise.

“We look for partners who have that (expertise) because now they can apply our solution to the problem. It’s a bit like we give them the raw materials, they build the house,” he said.

Among the recent announcements at Boomi World, Mr. McAllister highlighted Boomi Companion and Boomi Connect as the most notable developments.

Boomi Companion aims to accelerate agentic engineering on the Boomi enterprise platform. Developers can now design, build, test, deploy, and diagnose integrations through natural language using their preferred AI tools.

Boomi Connect provides secure, governed connectivity between AI tools such as Claude, Copilot and Gemini, and enterprise applications through managed, Model Context Protocol (MCP)-enabled tools.

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Meanwhile, Serco, a leading public services organization, has modernized its operations by leveraging Boomi AI agents and accelerating enterprise-wide integration initiatives.

Kiran Narayan, director for products and digital capabilities at Serco Australia, said the company was already using Boomi when they discovered that powerful AI capabilities were already available within the platform.

In an interview on the sidelines of Boomi World, Mr. Narayan said they were privy to the early access program for AgentStudio, and they started experimenting on the different agents.

“Boomi’s integration also has had a lot of improvements through the process. We have had significant recalibration of our processes… It created more efficiency,” he said.

With Boomi, Serco has significantly lowered integration complexity and time-to-delivery. Using Boomi Scribe, Serco said that documentation that once required 40-60 hours now takes only 6-12 hours. Individual documentation tasks dropped to 15 minutes from three hours previously.

Mr. Narayan said Boomi has a “very good support system” for customers like Serco.

“Boomi clearly differentiates itself with a very positive approach and culture in helping every customer, regardless of the size, regardless of where they are around the globe, with the best possible team equipped to support,” he said.

Mr. Narayan said he is very excited about the new innovations such as Boomi Orchestrate and Boomi Companion.

“I’m a technologist at heart. I’m seeing so many possibilities,” he said.

In a statement on Thursday, the company said January-to-March net income stood at P7.8 billion, up 6% from the normalized P7.4 billion recorded a year earlier, excluding one-time gains and the impact of Golden Arches Development Corp.鈥檚 (GADC) deconsolidation in March 2025.

Consolidated revenues rose 1% to P42.2 billion from the normalized P42 billion recorded in the same period last year.

鈥淎GI had an optimistic start; first-quarter results reflected healthy residential sales, strong leasing revenues, sustained improvement in the hospitality business, and the nascent recovery in spirits sales. These businesses continued to perform well even against a demanding macroeconomic and geopolitical backdrop,鈥� AGI President and Chief Executive Officer Kevin L. Tan said.

鈥淥ur first quarter performance is supported by ongoing cost discipline, embedded in our operations. This allowed our Group to gain operating leverage, while we continue to implement our aggressive business strategies. Overall, we have maintained our financial prudence, which helps us stay on course even in this challenging environment,鈥� he added.

On the property business, Megaworld Corp. saw a 4% increase in attributable net income to P5.3 billion as revenue climbed by 3% to P21.6 billion.

Real estate sales reached P13.3 billion, up 15%, driven mainly by construction progress in Metro Manila projects.

The office segment through Megaworld Premier Offices saw a 4% increase in office rental income supported by new leases and contract renewals.

The malls business led by Megaworld Lifestyle Malls saw revenues climb 9% to P1.8 billion, supported by higher tenant sales, improved occupancy, and stronger foot traffic.

Revenues from Megaworld Hotels & Resorts also increased 8% to P1.5 billion on the back of expanding operations and growing meetings, incentives, conferences, and exhibitions (MICE) activity.

The liquor manufacturing segment led by Emperador, Inc. posted attributable net income of P1.9 billion and consolidated revenues of P13.4 billion, driven by a favorable product mix and ongoing cost management, with brandy and whisky sales growing 6% year on year.

鈥淭he brandy segment continued to gain momentum, enjoying higher sales due to encouraging consumer shifts despite the soft domestic liquor market. Whisky sales have shown gradual, steady improvement as the Group continues to navigate ongoing challenges in the international spirits market,鈥� AGI said.

On the leisure and tourism segment, Travellers International, operator of Newport World Resorts, posted net revenues of P7 billion and gross revenues of P8.6 billion during the quarter.

Gross gaming revenue reached P6.6 billion, with gains in the mass segment offsetting weakness in VIP gaming. Non-gaming revenues rose 10% year on year to P2 billion, supported by higher hotel rates and increased retail spending within the resort complex.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached P1.7 billion, aided by cost management efforts.

AGI has interests in real estate through Megaworld, spirits through Emperador, leisure and hospitality through Travellers International, and quick-service restaurants through its stake in GADC, the operator of McDonald鈥檚 Philippines.

On Thursday, AGI shares rose by five centavos or 0.58% to close at P8.70 apiece. 鈥� Alexandria Grace C. Magno

鈥淲e鈥檙e studying the possibility of doing a follow-on offering also. But of course, we have to consider the market conditions when we do the follow-on offering,鈥� Vivant Chief Finance Officer and Risk Officer Minuel Carmela N. Franco said during the company鈥檚 annual stockholders鈥� meeting on Thursday.

She said the company plans to fund its pipeline of projects through a combination of debt and internal equity.

Vivant is planning around P60 billion in investments for its energy business from 2026 to 2030, particularly for renewable energy (RE) projects and related infrastructure.

鈥淲e have laid out an ambitious roadmap with total projected investments amounting to P60 billion from 2026 to 2030,鈥� Vivant Chief Executive Officer Arlo G. Sarmiento said.

About 78% of the planned investments will go toward renewable energy projects.

鈥淪tabilized by our strong foundation of existing investments in power and water, I am confident that our projected P60-billion to P70-billion pipeline investments over the next five years will allow us to continue to deliver on our mission to bring excellence to industries that improve everyday living,鈥� he said.

Amid ongoing geopolitical tensions in the Middle East, company officials said renewable energy development could help reduce the country鈥檚 dependence on imported conventional fuel sources.

鈥淲e could use more RE. Our dependence on conventional energy sources has made us the most expensive, maybe next to Singapore, country in terms of power costs. And that鈥檚 largely because of our dependence on oil, gas, and even coal,鈥� Mr. Sarmiento said.

Emil Andre Garcia, president and chief executive officer of Vivant Energy Corp., the company鈥檚 wholly owned energy investment arm, said Vivant is looking to develop up to 15 energy projects with capacities ranging from 30 megawatts (MW) to 300 MW.

鈥淲e鈥檙e looking at starting heavy investments this year, but the heavier ones should be in 鈥�27 and 鈥�28, assuming, of course, that the macros improve, or at the very least, stay where they are,鈥� he said.

Vivant currently has an attributable operating generation capacity of around 471 MW and is targeting to expand its power portfolio to 1,000 MW by 2030.

For its water business, the company is planning another P7 billion in investments across the water value chain, including bulk water supply, desalination, wastewater, and water distribution projects.

Jess Anthony N. Garcia, president and chief executive officer of Vivant Water, said the investment pipeline is intended primarily to expand the company鈥檚 desalination, wastewater, and water distribution segments.

鈥淚 think for the water sector, it鈥檚 a sector that鈥檚 been largely neglected. And I think because of that, there鈥檚 a lot of room there to improve infrastructure,鈥� he said.

Vivant Water is set to operationalize a desalination plant in Cordova capable of producing up to 20 million liters of water per day.

Vivant has investments in electric power generation and distribution, retail electricity supply, bulk water supply, wastewater treatment, and water distribution. 鈥� Sheldeen Joy Talavera

鈥淥ur results in the first three months are consistent with our back-ended target for the year. While we sustained a healthy performance early on, we have yet to quantify the impact of the Middle East war and a newly replenished construction order book in the coming months,鈥� Megawide Chairman and Chief Executive Officer Edgar B. Saavedra said in a media release on Thursday.

For the January-to-March period, the listed engineering and construction company posted gross revenue of P5.04 billion, up 16.4% from P4.33 billion a year earlier.

Megawide said revenues from operations accounted for 95.44% of total revenue at P4.81 billion. Construction operations contributed P3.84 billion, while landport and real estate operations generated P137.86 million and P831.13 million, respectively.

鈥淥verall, the revenue growth reflects increased project activity and portfolio expansion, with the real estate segment providing a higher contribution during the period. However, revenues remain partially influenced by project timing and recognition cycles, particularly for construction and real estate operations,鈥� the company said.

Total expenses rose 15.59% to P4.67 billion from P4.04 billion previously.

Megawide said the impact of the Middle East war, which escalated in February, has yet to materialize. The company added that it continues to explore strategies to strengthen revenue growth and its balance sheet.

鈥淭he other side of our value creation strategy is boosting our financial position to ease the debt-servicing burden and provide financial flexibility. Already, we have pared down almost P6 billion of our short-term debt in the first quarter alone, which should translate to estimated interest cost savings of around P250 million to P300 million for the year based on our average cost of debt,鈥� Mr. Saavedra said.

Megawide said its bank debt-to-equity ratio improved to 1.1x as of end-March from 1.54x at end-2025, in line with its medium-term commitments and long-term financial management program.

鈥淔or the remainder of the year, we are programmed to pay down another P2.5 billion to P3 billion from our short-term obligations as we aim to boost our liquidity and free up more debt headroom to support our long-term growth aspirations,鈥� Chief Financial Officer Jez G. dela Cruz said.

Megawide has a construction order book worth P48.7 billion and is building 11,000 housing units under the government鈥檚 expanded 4PH program. The company is also developing the Baguio City Integrated Terminal, the South Luzon Integrated Terminal Exchange, and the Cavite Bus Rapid Transit System.

Shares in Megawide fell three centavos, or 0.94%, to close at P3.17 apiece. 鈥� Ashley Erika O. Jose

鈥淭his partnership reflects Robinsons Land鈥檚 commitment to developing well-located, future-ready logistics facilities that support the growth requirements of world-class companies such as FedEx,鈥� RLX General Manager Cora Ang Ley said in a statement on Thursday.

The facility will rise on an estimated 15-hectare site within Clark International Airport (CRK) and will have a gross floor area of around 78,000 square meters. Completion is targeted by the first quarter of 2028.

Groundbreaking for the project was held on May 19.

The facility will be developed by RL Clark Logistix, Inc. (RCLX), a joint venture (JV) between Robinsons Land Corp. (RLC) and AIHC.

RLC holds an 85% stake in the venture, while AIHC owns the remaining 15%.

The project is being undertaken in coordination with the Bases Conversion and Development Authority, Clark Development Corp., and Luzon International Premiere Airport Development Corp., the operator of CRK.

鈥淭hrough RCLX, we are building in Clark with a long-term view of operational efficiency, network expansion, and the growing role of the Philippines in regional trade and logistics,鈥� Ms. Ley said.

The upcoming facility is expected to strengthen Robinsons Land鈥檚 logistics and industrial footprint in a corridor supported by cargo movement, aviation activity, and regional distribution links.

RLC said the project supports its broader strategy of expanding investment properties and diversifying recurring income streams through RLX.

During its annual stockholders鈥� meeting, RLC reported consolidated revenues of P12.28 billion and first-quarter net income of P4.4 billion, driven by its property portfolio and improved contributions from its development businesses.

Its investment portfolio remained the company鈥檚 primary earnings driver, with revenues rising 8% year on year to P9.2 billion and earnings before interest, taxes, depreciation, and amortization (EBITDA) increasing 4% to P5.6 billion.

Meanwhile, revenues from its development portfolio climbed 22% to P3.1 billion, while EBITDA rose 7% to P1 billion due to improved project execution and revenue recognition.

Capital expenditures in the first quarter stood at P3.25 billion, slightly higher than P3.23 billion recorded a year earlier. 鈥� Juliana Chloe A. Gonzales

In a statement on Thursday, the company said attributable net income surged 169.6% to P478 million from P177.3 million a year earlier, while revenues rose 36.6% to P1.646 billion from P1.205 billion.

鈥淥ur Palawan operations delivered a strong start to the year, supported by continued operational optimization, enhanced mine planning, and disciplined execution across our operations,鈥� FNI President Dante R. Bravo said.

Mining revenues from the company鈥檚 Palawan operations climbed 36.4% to P1.644 billion during the quarter, driven by higher nickel ore prices and shipment volumes.

Total shipments increased 8.9% to 550,632 wet metric tons (WMT) from 505,459 WMT a year earlier.

FNI said its sales mix during the quarter consisted of 80% medium-grade and 20% low-grade nickel ore, compared with entirely medium-grade shipments in the same period last year. All shipments in both periods were sold to customers in China.

Average realized nickel ore prices rose 23% to $50.57 per WMT from $41.13 per WMT, which the company attributed to tighter nickel ore supply following production quota restrictions in Indonesia and higher industry costs linked to tensions in the Middle East.

鈥淒espite global and industry-wide cost pressures, we remained focused on improving productivity, maintaining operational readiness, and advancing initiatives that strengthen efficiency and support our long-term growth objectives,鈥� Mr. Bravo said.

Cost of sales for the January-to-March period increased 2.2% to P544.2 million from P532.3 million a year earlier due to higher production and shipment volumes.

Operating expenses, including excise taxes and royalties, general and administrative expenses, and shipping and distribution costs, rose 22.4% to P530.2 million from P433.3 million in the same period last year.

The increase was mainly attributed to higher excise taxes and shipping expenses linked to larger shipment volumes, partly offset by an input value-added tax impairment provision recognized in the prior year.

FNI said it remains focused on technology adoption, resource expansion, and cost management to strengthen operations and respond to changing nickel market conditions.

The company added that the start of the Surigao mining season in the second quarter is expected to support operations and contribute to overall performance this year. 鈥� Alexandria Grace C. Magno

鈥淵ou really want to empower people. You want them to take responsibility for their lives. But they can鈥檛 if there鈥檚 no tools,鈥� Pioneer, Inc. President and Chief Executive Officer Lorenzo O. Chan, Jr. told reporters on the sidelines of the Philanthropy Asia Summit (PAS) on Tuesday.

He said affordable microinsurance products are becoming increasingly important for low-income households exposed to typhoons, flooding, crop losses, and other climate-related disruptions.

鈥淧eople think if I help the poor, if I insure the poor, there is no business case. [But,] there is business case,鈥� he said.

The Philippines was ranked the world鈥檚 most disaster-prone nation for the 21^st straight year in the 2025 WorldRiskIndex by Germany鈥檚 B眉ndnis Entwicklung Hilft and Ruhr University Bochum.

鈥淭here are enough insurers, there are enough needs. What we have is a lack of those willing to look beyond the business case to give it a go,鈥� Mr. Chan said.

Pioneer鈥檚 microinsurance products are primarily distributed through CARD Pioneer Microinsurance, Inc., its joint venture with CARD Mutually Reinforcing Institutions (CARD MRI).

In the Philippines, the Pioneer group includes Pioneer Life, Inc., Pioneer Insurance and Surety Corp., M Pioneer Insurance, Inc. 鈥� its joint venture with Manila Electric Co. (Meralco) 鈥� and CARD MRI.

Under Republic Act No. 10607, or the Insurance Code of the Philippines, microinsurance daily premiums cannot exceed 7.5% of the daily minimum wage for a non-agricultural worker in Metro Manila.

Mr. Chan said the company plans to expand its microinsurance offerings for farmers and fisherfolk.

Last year, Pioneer partnered with Nestl茅 Philippines to provide crop insurance for coffee farmers in Sultan Kudarat to help protect production against climate-related risks.

In 2025, the group recorded 36.7 million enrollments in its microinsurance products and generated more than P4 billion in premiums.

According to Insurance Commission data, Pioneer Insurance was the top nonlife insurer last year in terms of premium income, with P6.903 billion in net premiums written. 鈥� Beatriz Marie D. Cruz

In a statement on Thursday, the property developer said residential sales reservations reached P2.7 billion in March.

鈥淥ur residential performance in the first quarter proves that our products are aligning perfectly with the evolving needs of Filipino homeowners,鈥� FLI President and Chief Executive Officer Tristan Las Marias said.

鈥淭he record sales we recorded in March reflect the strength of our regional strategy. We are not just building houses; we are creating value in the areas where the Philippine economy is growing fastest,鈥� he added.

FLI said the growth was driven by double-digit increases in the National Capital Region, Central Luzon, and Mindanao, as demand for residential developments in these markets strengthened.

The residential segment helped lift real estate revenues by 6% to P3.92 billion during the first quarter.

For the January-to-March period, FLI posted consolidated revenues of P6.31 billion, up 4.5% from a year earlier, while net income stood at P1.1 billion. 鈥� Alexandria Grace C. Magno

鈥淲e are launching another 40 cities this year, just to basically digitize as many cities as possible,鈥� Grab Philippines Country Head Ronald Roda told 大象传媒 on the sidelines of the company鈥檚 economic forum on Monday.

He said the expansion will cover transport, delivery, and financial services, depending on what local governments allow in each area.

鈥淚t is different per city. It really depends on what the city allows us. The easiest to launch is deliveries, followed by transport, and then lastly is financial services,鈥� he said.

鈥淲e usually lead with delivery because that鈥檚 the easy way and we have national partners to rely on,鈥� he added.

Grab Philippines currently offers transportation, food and package delivery, and financial services. According to its website, the company operates in about 25 cities nationwide.

Mr. Roda said the company has seen growing opportunities tied to the digitalization of grocery and retail services.

鈥淲hen a crisis hits, there鈥檚 ultimately opportunities. The first opportunity is really the digitization of groceries. Similar to the pandemic where food delivery was the thing, these days it鈥檚 really bringing fresh produce, then ultimately retail into digital,鈥� he said.

鈥淎nd that鈥檚 what we have been focusing on for the past three months,鈥� he added.

Grab Philippines is also looking to expand its consumer cash loan business, which it launched in December last year.

鈥淲e have been very slow in giving out loans, but now I think it鈥檚 scaled because we鈥檝e gotten our group in terms of what鈥檚 the right credit policy and all of that,鈥� Mr. Roda said.

鈥淪o, we鈥檙e looking to scale lending mainly because the Grab base is fairly affluent,鈥� he added. 鈥� Ashley Erika O. Jose

In a statement on Thursday, the company said the new branch on East 42nd Street is its third location in Manhattan, adding to its existing presence in the city, including its Times Square store.

The branch began operations on March 31 and offers dine-in, takeout, delivery, online ordering, and catering services. It operates daily from 9 a.m. to midnight.

JFC said the opening drew strong customer turnout, with patrons lining up hours before opening. The company estimated that around 95% of customers were from the mainstream market, while 5% were Filipino or Filipino American.

鈥淭he response to our East 42nd Street opening is very encouraging 鈥� not just the strong turnout on day one, but the steady demand we continue to see,鈥� Jollibee North America President Beth Dela Cruz said.

鈥淢anhattan brings together a highly diverse customer base, and we are grateful for the opportunity to introduce Jollibee to new customers while making it more accessible to longtime fans in New York,鈥� she added.

JFC said the Manhattan opening forms part of its broader strategy to expand in densely populated urban centers across North America, focusing on high-footfall locations that support customer trial and repeat visits.

Following the opening of the East 42nd Street branch, Jollibee鈥檚 North American network now includes 81 stores in the United States and 28 in Canada.

鈥淭he opening of Jollibee Manhattan East 42nd Street demonstrates that our brand can connect with a broad customer base in one of the most competitive restaurant markets in the world,鈥� Jollibee Group Global President and Chief Executive Officer Ernesto Tanmantiong said.

鈥淪upported by products that customers come back for and a disciplined approach to expansion, we remain focused on growing Jollibee in a way that is sustainable, repeatable, and built for long-term success,鈥� he added.

Shares in JFC rose 1.35% to close at P135 apiece on Thursday. 鈥� Alexandria Grace C. Magno

In a statement on Thursday, McDonald鈥檚 Philippines said it signed a power supply agreement with Shell Energy Philippines, Inc. to initially supply renewable energy to six McDonald鈥檚 stores with the highest electricity demand within the franchise area of Manila Electric Co. (Meralco).

The transition is supported by the government鈥檚 Green Energy Option Program (GEOP), which allows eligible consumers to source electricity directly from renewable energy providers.

鈥淏y enabling renewable energy across the initial pilot stores under the GEOP, we are helping McDonald鈥檚 Philippines take a meaningful step toward greener operations,鈥� Shell Energy Philippines Chief Commercial Officer Sarah Rose Lim said.

Shell Energy Philippines, a wholly owned retail electricity supplier of Shell, serves more than 100 commercial and industrial customers across sectors such as real estate, manufacturing, education, and retail.

McDonald鈥檚 Philippines said the partnership is expected to provide operational benefits, including access to renewable energy certificates and more predictable electricity pricing, helping improve cost efficiency across its store network.

鈥淲e look forward to working with Shell Energy Philippines not just as a supplier, but as a committed partner in protecting our planet and building a more sustainable future for generations to come,鈥� McDonald鈥檚 Philippines Vice-President for Supply Chain Management Andre Villareal said.

McDonald鈥檚 Philippines currently operates more than 850 stores nationwide and is targeting to expand its network to 1,000 stores within the next two years. 鈥� Sheldeen Joy Talavera

鈥淲e鈥檙e looking at initial data to understand any impact on our business. On our end, the bigger focus is really on managing costs 鈥� especially electricity and fuel 鈥� and that鈥檚 where our sustainability initiatives come in,鈥� PLDT Chief Operating Officer Menardo G. Jimenez, Jr. said in a statement on Thursday.

The Pangilinan-led telecommunications company said volatility in fuel and electricity prices remains a major driver of operational expenses amid the ongoing energy crisis.

鈥淲e鈥檙e becoming much more disciplined in how we manage power consumption, and we鈥檙e accelerating our ability to solarize our cell sites. This allows us to become more efficient and gives us greater control over our energy costs,鈥� Mr. Jimenez said.

PLDT said shifting more cell sites to solar power is expected to help shield the company from fluctuations in fuel and electricity prices.

鈥淏y expanding the use of on-site solar power at cell sites, PLDT reduces dependence on grid electricity, improves cost predictability, and enhances network stability 鈥� particularly in areas vulnerable to power disruptions and price volatility,鈥� the company said.

For the first quarter, PLDT posted a 1.77% decline in attributable net income to P8.87 billion as higher expenses offset modest revenue growth.

Gross revenues rose 2.23% to P56.51 billion, while expenses increased 5.43% to P42.75 billion from a year earlier.

Shares in PLDT fell P17, or 1.42%, to close at P1,180 apiece.

Hastings Holdings, Inc., a unit of the PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., holds a majority stake in 大象传媒 through the Philippine Star Group. 鈥� Ashley Erika O. Jose

In a statement on Wednesday, the Razon-led global port operator said the funding will support infrastructure improvements at the Manila International Container Terminal (MICT), the South Luzon Container Terminal (SLCT), which remains under development, and the Mindanao Container Terminal (MCT).

ICTSI said the transaction marks AIIB鈥檚 first non-sovereign-backed deal in the Philippines.

The company also said the investments are expected to help raise annual throughput capacity and improve berth productivity across the terminals.

Under the project, MICT鈥檚 capacity is targeted to reach 3.7 million twenty-foot equivalent units (TEUs) by 2027, while MCT and SLCT are projected to expand capacity to one million TEUs and 800,000 TEUs, respectively, by 2028.

鈥淚CTSI welcomes this promising partnership with the AIIB, which supports our expansion and sustainability initiatives,鈥� ICTSI Chairman and President Enrique K. Razon, Jr. said.

鈥淲e value AIIB鈥檚 shared commitment to long-term value creation, inclusive economic growth and responsible business practices, and as such, look forward to strengthening our partnership and accomplishing more together,鈥� he added.

AIIB Chief Officer Yong Zhou said the transaction highlights the multilateral lender鈥檚 support for infrastructure development through private sector financing.

鈥淭his transaction demonstrates how AIIB can support infrastructure development by deploying innovative financing instruments and working closely with global operators who have the scale and execution capacity to deliver impact for the people we serve,鈥� he said.

For the first quarter, ICTSI reported a 22.56% increase in attributable net income to $293.57 million, driven by higher cargo volumes and contributions from new terminals.

Gross revenues rose 28.94% to $961.11 million during the January-to-March period from $745.42 million a year earlier.

Shares in ICTSI climbed P5.50 or 0.69% to close at P800 each on Wednesday. 鈥� Ashley Erika O. Jose

鈥淥ur goal is to have more than 20 hotels and about 9,000 hotel rooms when we reach our 40^th year within the next three years,鈥� Megaworld President and Chief Executive Officer Lourdes T. Gutierrez-Alfonso said in a statement on Wednesday.

The company said the projects will add around 2,000 room keys to its portfolio and will be managed and operated by Megaworld Hotels & Resorts.

The new properties include ArcoVia Hotel at ArcoVia City in Pasig, Savoy Capital Town in Pampanga, The Hamptons Hotel in Laguna, Paragua Sands Hotel and Savoy Hotel Palawan in Palawan, and The Kingsford at The Upper East township in Bacolod.

Megaworld said Paragua Sands Hotel and Savoy Hotel Palawan will rise within the 462-hectare Paragua Coastown township in San Vicente, Palawan, and will contribute a combined 619 rooms.

The company also said the future ArcoVia Hotel in Pasig will be its tallest hotel development at 31 stories.

Savoy Capital Town, located within the 35.6-hectare Capital Town township in San Fernando, Pampanga, will offer 374 room keys and is targeted for turnover by August 2027.

The Kingsford condotel in Bacolod will have around 300 rooms and a ballroom that can accommodate up to 400 guests.

Megaworld said it recently launched Chancellor Hotel Boracay in Boracay Newcoast and is set to open Belmont Hotel Iloilo in the coming weeks.

鈥淏y 2029, Megaworld aims to grow its hotel portfolio to have 22 properties and about 9,000 hotel rooms,鈥� the company said. 鈥� Juliana Chloe A. Gonzales

In a statement on Wednesday, the company said January-to-March revenues reached P13.3 billion.

Emperador said the increase in profit was also supported by cost controls, product mix, and contributions from its business units.

鈥淥ur first quarter performance demonstrates the resilience of our businesses and the strength of our diversified portfolio,鈥� Emperador President and Chief Executive Officer Glenn Manlapaz said.

鈥淒espite ongoing geopolitical tensions, supply chain disruptions, fuel price volatility, inflationary pressures, and broader macroeconomic headwinds, we remained focused on execution, efficiency, and delivering value to stakeholders,鈥� he added.

Emperador said operating conditions during the quarter were affected by geopolitical tensions, fuel supply disruptions, higher energy prices, and uncertainty in global trade and consumer markets.

The company said brandy and whisky sales increased by 6% during the quarter, supported by demand in Philippine and international markets.

Emperador said its domestic brandy business posted stable growth, while its international operations benefited from geographic diversification and overseas expansion.

Emperador is listed on the Philippine Stock Exchange and the Singapore Exchange.

The company has manufacturing operations in the Philippines, the United Kingdom, Spain, and Mexico, with distribution in around 100 countries.

Its portfolio includes Emperador Brandy, Fundador Brandy, and single malt whisky brands such as The Dalmore, Fettercairn, Jura, and Tamnavulin.

Shares in Emperador rose by 0.52% or eight centavos to close at P15.38 apiece on Wednesday. 鈥� Alexandria Grace C. Magno

In a regulatory filing on Tuesday, the company said it received a Certificate of Permit to Offer Securities for Sale from the SEC covering the issuance, which will fund its expansion projects.

FLI earlier said the retail bond offer includes an oversubscription option of up to P2.569 billion, which could bring the total issue size to as much as P11.57 billion.

The company said the transaction is the third tranche of its P35-billion shelf-registered bond program, following a P11.4-billion tranche issued in 2023 and a P12-billion tranche in March 2025, which funded its retail and industrial expansion projects.

FLI appointed BDO Capital & Investment Corp., BPI Capital Corp., China Bank Capital Corp., East West Banking Corp., First Metro Investment Corp., Land Bank of the Philippines, RCBC Capital Corp., and SB Capital & Investment Corp. as joint lead underwriters and bookrunners for the planned bond offer.

Meanwhile, BPI Asset Management and Trust Corp. will serve as trustee for the issuance.

FLI鈥檚 portfolio includes office towers, residential developments, townships, mixed-use projects, malls, and leisure developments.

Shares in Filinvest Land rose 1.41% or one centavo to close at P0.72 apiece on Wednesday. 鈥� Alexandria Grace C. Magno

In a statement on Wednesday, ACEN Corp. said the partnership will focus on the development and deployment of utility-scale floating solar installations in freshwater reservoirs and inland water bodies.

ACEN-Silverwolf is the joint venture renewable energy platform of ACEN Renewables International Pte. Ltd. and financial advisory firm Silverwolf Capital Ltd.

The parties said they plan to enter into a binding agreement, subject to regulatory approvals and finalization of definitive documentation.

Under the collaboration, Ocean Sun will provide its patented floating solar technology and maritime expertise, while ACEN-Silverwolf will contribute renewable energy development and regional project experience.

鈥淭his MoU establishes a clear pathway to scale Ocean Sun鈥檚 floating solar technology together with a highly experienced renewable energy developer,鈥� Ocean Sun Chief Executive Officer Kristian T酶rvold said.

Ocean Sun said its floating solar technology uses photovoltaic modules placed directly on a flexible membrane floating on water.

鈥淥cean Sun brings a floating solar technology that has been developed and refined over many years, with a clear focus on robustness and suitability for freshwater installations,鈥� ACEN-Silverwolf Chairman Kelvin Yuen said.

ACEN-Silverwolf and its group companies operate more than 100 megawatts of commercial and industrial renewable energy assets across China, Hong Kong, Malaysia, Thailand, and Singapore.

ACEN has 7 gigawatts of attributable renewable energy capacity across projects in operation, under construction, and with signed agreements.

The Ayala-led listed energy company has operations and investments in Australia, Vietnam, India, Lao PDR, Indonesia, and other markets.

Shares in ACEN declined by 4.62% or 15 centavos to close at P3.10 apiece on Wednesday. 鈥� Sheldeen Joy Talavera

In a statement on Wednesday, SM Offices Head Alexis L. Ortiga said the full occupancy of Clark Tech Hub reflected demand for office spaces outside Metro Manila.

鈥淭he full utilization of Clark Tech Hub underscores sustained demand for global-standard, sustainable workspaces outside Metro Manila,鈥� Mr. Ortiga said.

The 10-tower Clark Tech Hub office complex is located within the SM City Clark Complex in Angeles, Pampanga. The development has 72,392 square meters (sq.m.) of gross leasable area across 10 five-story buildings.

SM Offices said most tenants are global information technology-business process management (IT-BPM) and multinational companies operating under long-term lease agreements.

Towers 1 to 6 were launched in 2016, while Towers 7 to 10 opened in 2021. All towers are accredited by the Philippine Economic Zone Authority (PEZA).

SM Offices also said it will develop Clark Tech Hub Tower 11, which will add about 20,000 sq.m. of gross leasable area. The building is planned to rise nine stories.

鈥淲ith major infrastructure projects improving access and connectivity, we believe SM City Clark Complex will become even more attractive to locators seeking high-quality workspaces outside Metro Manila,鈥� Mr. Ortiga said.

Tower 11 will be built above the SM Clark Skylink terminal, which is expected to connect to Clark International Airport through the North-South Commuter Railway by 2028. 鈥� Juliana Chloe A. Gonzales

In a Feb. 13 decision, the SEC鈥檚 Markets and Securities Regulation Department canceled Mount Peak鈥檚 registration for alleged violations of 12 provisions under the implementing rules and regulations of Republic Act No. 8799, or the Securities Regulation Code (SRC).

The decision followed an investigation conducted by the Capital Markets Integrity Corp. (CMIC), which cited alleged irregularities involving the company鈥檚 business operations, records, books, and back-office systems.

The CMIC had placed Mount Peak under involuntary suspension in August 2025, citing potential risks to the Philippine Stock Exchange (PSE) and the investing public if the company continued operations.

The SEC also revoked the salesman license of the company president and the license of an associated person, and permanently disqualified both from future registration under the SRC.

The regulator likewise imposed P17.25 million in penalties.

According to the SEC decision, the company president admitted that an account under the name 鈥淢ichael Malate鈥� was allegedly used as a dummy account for personal transactions.

The SEC also cited alleged discrepancies in customer account records, internal controls, capital adequacy compliance, and reserve account balances.

鈥淚n the instant case, notwithstanding its breach of the minimum prescribed RBCA ratio across various periods, [Mount Peak] did not cease doing business or notify the PSE and the Commission of such breach,鈥� the SEC said in its decision.

The ruling has been appealed and remains pending before the SEC Commission En Banc.

Mount Peak did not immediately respond to an e-mail seeking comment.

In a separate advisory, the SEC warned the public against online lending platforms and mobile applications allegedly claiming affiliation with Copperstone Lending Inc. and the lending brand 鈥淢ocaMoca.鈥�

The advisory, issued through the SEC鈥檚 Financing and Lending Companies Department, said Copperstone Lending had reported several websites, applications, social media pages, and online platforms allegedly using the company鈥檚 name, branding, and identity without authorization.

The SEC said the reported platforms were also linked to complaints involving alleged collection harassment, suspicious loan applications, and unauthorized transactions.

鈥淭he Company likewise reported that several consumers complained regarding alleged collection harassment, threats, suspicious loan applications, and fake lending platforms falsely representing themselves as connected with 鈥楳ocaMoca,鈥欌�� the SEC said.

The commission advised the public to verify whether lending and financing firms are properly registered and authorized before transacting online, and cautioned consumers against sharing personal and banking information through unverified platforms. 鈥� Alexandria Grace C. Magno

鈥�We should be, roughly, by the end of the year, maybe 75 beds already,鈥� HCCH Chief Operating Officer Manuel Francisco 鈥淩amy鈥� T. Roxas told聽 大象传媒聽 in an interview.

鈥�Many of our treatments is outpatient鈥� So, the inpatient beds are really for surgical patients,鈥� he added. 鈥淥ur goal is to lower the out-of-pocket expenses of the patient.鈥�

According to the Philippine Cancer Society (PCS), the country logs over 150,000 new cancer cases annually. Breast and cervical cancer affect most Filipinos, with 27,000 and 7,200 cases detected respectively, per year.

As many Filipinos grapple with the life-threatening disease, the Perpetual Help Medical Center – Las Pi帽as (PHMC-LP) said that 40.6% of cancer patients鈥� families face financial strain due to high treatment costs.

The PHMC-LP noted that the cost of cancer treatment in the Philippines ranges from P120,000 to over P1 million, with the mean out-of-pocket expenses reaching P181,789.00.

With government benefits and a Health Maintenance Organization (HMO) card, Mr. Roxas said patients roughly pay 50% of the treatment from their own pockets. To help ease the financial burden, HCCH offers treatment packages for surgery and chemotherapy.

鈥�We look at what鈥檚 out there in the hospitals, and we always try to be cheaper than them without losing profitability,鈥� said Mr. Roxas. 聽 鈥淚f you鈥檙e talking about the big ones [hospital], we are 15 to 20% cheaper.鈥�

The hospital鈥檚 network with other pharmaceutical companies also helps maintain cheaper treatment costs as the Middle East war fuels medical inflation.

鈥�What鈥檚 difficult with cancer treatment, when there鈥檚 a new medicine which has proven to be effective, the cost of that medicine also increases,鈥� he said.

鈥�We negotiate with them, we work with them to try to bring down the acquisition cost of these drugs so that we can also offer them cheaper to our patients, no matter how expensive they are,鈥� he added.

HCCH is the first cancer specialty hospital in the Philippines, and is part of the Healthway Medical Network Inc. under Ayala Corporation鈥檚 AC Health.

AC Health鈥檚 pharmaceutical portfolio includes Generika, St. Joseph Drug, IE Medica, and MedEthix.

鈥�All of this allows us to weather this crisis better,鈥� said Mr. Roxas. 鈥淥ur drug importation arm will be able to access drugs, and they already do from India, from China, which makes it cheaper for our patients.鈥�

In March, the Department of Health (DoH) launched the National Cancer Grid. The flagship framework aims to standardize cancer care across regions, integrate data silos, and ensure that no Filipino is left behind.

Health Secretary Teodoro J. Herbosa said the government aims to increase screening, diagnosis, and treatment by 50% by 2028. 鈥� Almira Louise S. Martinez

鈥�At MR.DIY, we understand that even small changes in prices can have a real impact on families,鈥� MR.DIY Philippines Chief Executive Officer Roselle Marisol Andaya said in a statement.

鈥�By keeping our prices steady for a limited period, we hope to ease some of that pressure and continue delivering the value our customers rely on every day,鈥� she added.

According to the brand, the initiative comes at a time when families are becoming more mindful of their spending.

Data from the research and analysis firm BMI found that Philippine consumer spending is expected to grow by 4.4% this year, slower than initially anticipated due to rising prices.

The firm added that consumer confidence also remains sluggish amid concerns over weakening household financial situations, corruption issues, spiking inflation, and natural disasters.

To help Filipinos 鈥渟tretch鈥� their budgets, MR.DIY Philippines pledged to uphold its commitment to keeping 鈥淎lways Low Prices鈥� by 鈥渁bsorbing cost pressures鈥� and retaining steady prices from May 1 to Jul. 31, 2026.

The brand noted that the move will ensure that home essentials, hardware, and personal care items are more accessible to Filipinos.

鈥�The brand continues to prioritize affordability while ensuring a wide assortment of products remains available across its stores nationwide,鈥� MR.DIY Philippines said in a statement.

鈥�MR.DIY Philippines reinforces its role not just as a retailer, but as a reliable partner to the communities it serves – Committed to helping Filipino families navigate everyday challenges with simple, practical, and affordable solutions,鈥� it added.

MR.DIY Philippines has over 5,000 stores across Southeast Asia, including Malaysia, Thailand, Indonesia, the Philippines, India, Bangladesh, Turkey, Spain, Singapore, Brunei, Cambodia, Vietnam, and Poland. 鈥� Almira Louise S. Martinez

AT LEAST 74 local and foreign firms have expressed interest in the planned Metro Rail Transit Line 3 (MRT-3) public-private partnership (PPP), the Department of Transportation (DoTr) said, as the government seeks private sector support for a rail system that analysts say requires substantial upgrades and clearer commercial terms to attract serious long-term operators.

鈥淭he MRT-3 PPP is a very viable and promising project. This is an existing line, and we know that, historically, MRT-3 ridership can reach up to 620,000 to 630,000 a day,鈥� Transportation Undersecretary for Railways Timothy John R. Batan said in a statement on Tuesday.

Data from the DoTr showed that MRT-3 passenger traffic increased in 2025 to 141.63 million, up 4.22% from 135.89 million in 2024.

The companies participated in market consultations held on May 14-15 and May 18 for the MRT-3 operations and maintenance (O&M) PPP project, according to the DoTr. The participating firms were from 14 countries, although the department did not identify them.

Mr. Batan said the strong turnout during the market sounding reflected growing private sector confidence in Philippine infrastructure projects.

The Transportation department is targeting approval of the project by the Economy and Development Council by August or September, Acting Transportation Secretary Giovanni Z. Lopez told 大象传媒.

Based on the agency鈥檚 timeline, solicited bidding for the project may begin by October, with bid submissions expected by March 2027.

The contract is targeted for award between June and July 2027, while the winning bidder is expected to take over MRT-3 operations by October next year.

According to information posted on the PPP Center website, the contractor for the capacity expansion, operations, and maintenance contract will take over the management of the existing MRT-3 line, including operations and maintenance, fare collection, and commercial rights within station areas subject to revenue-sharing arrangements with the government.

The project also includes the introduction of Dalian trains into commercial service, additional rolling stock, and upgrades to the signaling, depot, power, and communication systems.

The Asian Development Bank (ADB), which serves as the project鈥檚 transaction adviser, supports the initiative.

鈥淲ith this MRT-3 PPP Project, we鈥檙e proud and quite privileged to be a partner of the government of the Philippines in this endeavor to improve the overall connectivity for the Filipino people,鈥� ADB Country Director for the Philippines Andrew Jeffries said during the market sounding conference.

Still, transport analysts cautioned that the project鈥檚 commercial attractiveness will depend heavily on how clearly the government defines the scope of work and long-term financial structure.

鈥淭he MRT-3 project is not very attractive. That is why it requires a very clear definition,鈥� Rene S. Santiago, an international consultant on transport development and former president of the Transportation Science Society of the Philippines, said on the sidelines of the ADB Transport Forum on Tuesday.

He said the project consultant should clearly specify the upgrades needed for MRT-3, including increased line capacity and redesigned stations to improve accessibility.

Nigel Paul C. Villarete, senior adviser on PPPs at Libra Konsult, Inc., said the DoTr is moving in the 鈥渞ight direction鈥� by pursuing a solicited bidding process instead of entertaining unsolicited proposals.

鈥淭hey offer an open opportunity to all, and will attract a host of interested parties compared to the unsolicited mode, which gives a huge advantage to the original proponent being able to match any bid that may be submitted,鈥� he said in a Viber message.

He added that transport projects with predictable ridership such as MRT-3 are generally more attractive under a competitive solicited bidding framework.

The DoTr previously rejected unsolicited proposals for the MRT-3 O&M project submitted by Metro Pacific Investments Corp. and San Miguel Corp.

Last year, Metro Pacific Chairman Manuel V. Pangilinan said the company was unlikely to resubmit its proposal without approved fare increases and amid the high cost of rail operations.

The government had initially targeted launching the MRT-3 bidding process before the expiration of its build-lease-transfer agreement with Metro Rail Transit Corp. in July 2025. Following the contract鈥檚 expiration, ownership and operations of MRT-3 reverted fully to the government.

In a statement on Tuesday, the Cebu-based fuel retailer said the proposed Top Line Energy Complex will serve as its main logistics and distribution hub and support efforts to strengthen fuel supply in the Visayas.

As part of the project, Top Line entered into a sublease agreement with agri-industrial firm Lu Do & LuYm Group for an approximately 30-million-liter fuel depot facility in Cebu.

The initial phase of the project will involve refurbishing and optimizing the depot facility, with completion targeted by the fourth quarter of 2026.

Once operational, the facility is expected to increase Top Line鈥檚 storage capacity fourfold from its current 10 million liters, improving logistics efficiency and supply chain reliability, the company said.

鈥淲e are entering our next phase of growth, and the Top Line Energy Complex is a cornerstone for our continued expansion,鈥� Top Line Chairman, President, and Chief Executive Officer Eugene Erik C. Lim said.

鈥淭hrough this agreement, we are strengthening our ability and capacity to expand to serve the growing energy needs of our customers while supporting broader efforts to improve regional energy security,鈥� he added.

The company said it is also studying additional development phases that could further expand the facility鈥檚 storage capacity depending on market demand.

Top Line previously said it is preparing for broader depot development projects to expand storage operations, with estimated costs reaching as much as P1 billion.

The company has earmarked up to P440 million from the proceeds of its planned P1.9-billion follow-on offering for depot expansion initiatives.

Top Line returned to the equity market after its stock market debut in 2025, when it raised P732.6 million.

Originally engaged in leasing and real estate, the company entered the fuel sector in 2017 and has since expanded into commercial fuel trading, depot operations, and retail fuel distribution in the Visayas.

Through its Light Fuels brand, Top Line opened its first service station in Mandaue City, Cebu, in 2023. 鈥� Sheldeen Joy Talavera

In a statement on Tuesday, DoubleDragon said the record performance highlighted the 鈥渁ccelerating momentum鈥� of the 680-room Hotel101-Madrid, the first Hotel101-branded property operating outside the Philippines, which officially opened in March 2026.

鈥淭his record single-day performance at 100% occupancy provides support for demonstrable, strong demand for the property and illustrates the property鈥檚 potential to generate substantial recurring revenues,鈥� the company said.

DoubleDragon said more than 80% of guests came from Europe, North America, and Latin America.

Hotel101-Madrid serves as the global prototype for Hotel101 Global and is expected to support the company鈥檚 international expansion plans as it rolls out its standardized hotel model in other markets.

The company aims to develop one million standardized hotel rooms across 100 countries as part of its plan to become the world鈥檚 largest single-brand hotel chain.

Hotel101-Madrid is located on a 6,593-square-meter site in Valdebebas, near the IFEMA convention complex and Madrid-Barajas Airport.

The hotel has also been designated as an official partner property for the Formula 1 Spanish Grand Prix from 2026 to 2035 under an agreement with MATCH Hospitality Europe.

DoubleDragon plans to add 2,229 hotel rooms in 2026 across several projects, including developments in Davao and Cebu, as well as the 482-room Hotel101-Niseko in Japan, which is scheduled to open in December.

The company said its existing local properties, Hotel101-Manila and Hotel101-Fort, continue to post high occupancy rates that contribute to recurring revenues.

Hotel101 operates under an asset-light business model, which focuses on expanding through standardized hotel developments while limiting capital tied to property ownership and operations.

Shares in DoubleDragon closed unchanged at P9.78 each on Tuesday. 鈥� Alexandria Grace C. Magno

In a media release on Tuesday, Cebu Pacific said it will resume its Manila-Dubai-Manila flights on July 2, operating four times weekly every Tuesday, Thursday, Saturday, and Sunday.

The airline said passengers affected by previously canceled Dubai flights may begin rebooking their trips.

鈥淭he safety and well-being of our passengers and crew remain our utmost priority,鈥� Cebu Pacific said, adding that travelers should continue monitoring flight advisories and checking their flight status through the airline鈥檚 website.

Cebu Pacific also said it continues to operate its Manila-Riyadh route four times weekly.

The airline had extended the suspension of its Manila-Dubai services until the end of May due to the worsening security situation in the Middle East.

The suspension had already been extended once before, after Cebu Pacific initially planned to cancel Dubai flights only until April 20 before later moving the suspension to April 30.

Affected passengers were offered free rebooking, travel fund conversion, or refunds.

New NAIA Infra Corp. (NNIC), the operator of Ninoy Aquino International Airport (NAIA), earlier warned that international flights could still face disruptions because of airspace restrictions linked to the conflict in the Middle East. 鈥� Ashley Erika O. Jose

In its quarterly report released last week, the specialty retailer said attributable net income fell to P152.91 million for the January-to-March period from P368.39 million a year earlier.

Sales rose 11.4% to P7.64 billion from P6.86 billion, which the company attributed to efforts to increase customer traffic and strengthen brand engagement.

鈥淭he strong market presence of its brand portfolio, supported by marketing initiatives and in-store activities, contributed positively to consumer spending and overall sales performance,鈥� SSI said.

Despite higher revenues, profitability weakened as gross margin for merchandise fell to 42.6% from 44.6% amid a more promotional retail environment.

Gross profit increased 6.4% to P3.25 billion during the quarter.

Operating expenses, however, climbed 15.8% to P2.98 billion due to a larger store footprint and inflationary pressures. Operating expenses accounted for 38.9% of revenues, up from 37.4% in the same quarter last year.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) declined 18.4% to P761 million from P932.5 million a year earlier.

SSI said sales performance across categories was mixed during the quarter.

Its 鈥淥thers鈥� category, which includes personal care, food, and home products, posted the strongest growth at 48.5%, while footwear, accessories, and luggage sales rose 32.7%.

Casual wear and fast fashion both grew 5.9%, while the luxury and bridge category declined 1.7% year on year.

E-commerce sales reached P565.3 million during the quarter, accounting for 7.4% of total sales.

Meanwhile, rental income rose 8.1% to P23.9 million, driven by leases of selected store and parking spaces at Central Square.

As of end-March, SSI operated 631 stores nationwide and carried 101 brands in its portfolio. During the quarter, the company opened five stores, reopened 12, and permanently closed 14. 鈥� Alexandria Grace C. Magno

In a statement on Tuesday, the company said net income after tax fell to P446 million in the January-to-March period from P473 million a year earlier.

Consolidated revenues also slipped to P3.58 billion from P3.72 billion in the same quarter last year.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 5% to P1.04 billion from P988 million, supported by cost controls and improved operational efficiency, according to the company.

Gross profit margin improved to 48% from 46%.

鈥淥ur first-quarter performance reflects the resilience of our core businesses and the benefits of disciplined execution across the organization,鈥� CPG President and Chief Executive Officer Marco R. Antonio said.

鈥淎mid a dynamic operating environment, we remain focused on margin protection, prudent cost management, and calibrating new project launches in line with prevailing market demand,鈥� he added.

The company said its first-home residential developments segment remained its largest revenue contributor during the quarter, generating P2.48 billion or 68% of total revenues.

Premium residential developments contributed P682 million, while commercial leasing and property management generated P297 million and P151 million, respectively.

As of end-March 2026, CPG reported total assets of P63.63 billion and stockholders鈥� equity of P24.49 billion. Its net debt-to-equity ratio stood at 0.9 times.

Shares in Century Properties closed unchanged at P0.66 each on Tuesday. 鈥� Alexandria Grace C. Magno

In its first-quarter special market report, PRIME Philippines said retail growth is increasingly being driven by mixed-use township developments in uptown Cagayan de Oro.

鈥淯nlike the densely clustered downtown malls, the uptown district is expected to form a wider spread as the pipeline of retail will be embedded in townships,鈥� the property consultancy said.

PRIME Philippines identified SM Prime Holdings, Inc.鈥檚 SM City CDO Uptown and DSG Sons Group鈥檚 Gaisano malls as the primary retail anchors in the uptown corridor, with Gaisano City Uptown opening in 2024.

The consultancy said additional projects are expected to expand retail activity in the area.

Cebu Landmasters, Inc. is scheduled to launch Manresa Town in the fourth quarter, a 14.6-hectare university township being developed in partnership with Xavier University-Ateneo de Cagayan.

The project includes plans for Xavier University鈥檚 future Masterson campus alongside commercial and residential developments within the township.聽

Meanwhile, Pueblo de Oro Development Corp., the real estate arm of ICCP Group, is planning to establish the 23-hectare Pueblo Business Park in the uptown district.

PRIME Philippines noted that the city鈥檚 downtown corridor has become increasingly competitive, with major developers operating retail properties along Claro M. Recto Avenue.

These include Ayala Land, Inc.鈥檚 Centrio Mall, DSG Sons Group鈥檚 Gaisano City Mall, Robinsons Land Corp.鈥檚 Robinsons Cagayan de Oro, AllValue Holdings Corp.鈥檚 AllHome Cagayan de Oro, and SM Prime鈥檚 SM CDO Downtown.

The Limketkai Center mixed-use development, which has more than 102,000 square meters of gross leasable area, also remains a major commercial hub in the downtown area.

The property consultancy said major infrastructure projects are expected to further support commercial growth and logistics connectivity in Cagayan de Oro.

These include the expansion of Laguindingan Airport, which is expected to increase annual passenger capacity from 1.6 million to 3.9 million in the first phase and eventually to 6.3 million. Aboitiz InfraCapital, Inc. was awarded the airport expansion project.

PRIME Philippines also cited the proposed Northern Mindanao Railway project, a planned 54.8-kilometer transit system connecting Laguindingan Airport to Villanueva through several Northern Mindanao cities and municipalities, including Cagayan de Oro.

The consultancy said the railway project鈥檚 pre-feasibility study was completed in October 2025, while the full feasibility study is expected to begin by mid-2026.

Cagayan de Oro remains the most fiscally productive highly urbanized city in Mindanao, with revenues per capita reaching P4.31 million as of 2024, according to PRIME Philippines.

The city also accounts for 28.3% of Northern Mindanao鈥檚 regional gross domestic product (GDP) and ranks second in GDP per capita among highly urbanized cities outside Metro Manila, the consultancy said. 鈥� Juliana Chloe A. Gonzales