Eagle Cement on Wednesday, December 21, submitted its petition for delisting from the Philippine Stock Exchange (PSE) after San Miguel Corporation (SMC) completed its buyout.

Eagle Cement asked the local bourse for the delisting of its common shares from the PSE’s main board on February 28, 2023.

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Several shareholder rights litigation firms in the United States announced separate probes on behalf of investors of PLDT amid its budget overrun and violations of securities laws.

PLDT shares are traded at the New York Stock Exchange through American Depositary Receipts with a ticker symbol of PHI. The ADRs are down by 22.8% since the budget fiasco was discovered.

Tycoon Manuel V. Pangilinan faced investors and analysts in a closed door briefing on Wednesday, December 21. 

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Ayala-led Globe underscored the need for transparency in financial reporting amid rival PLDT’s recent accounting fiasco, which involved a P48-billion budget overrun.

In a statement on Tuesday, December 20, Globe said that publicly listed companies should follow the Philippine Financial Reporting Standards and must submit documents in a timely, complete, and accurate manner.

The blue chip company added that maintaining an Audit and Related Party Transactions Committee ensures efficiency and credibility in internal controls and corporate governance.

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The Manila-based International Container Terminal Services Inc. (ICTSI) and the Port Authority of Gdynia SA on Monday, December 19, signed a new 30-year lease for the Baltic Container Terminal (BCT) in Gdynia, Poland.

The new lease will run until 2053, extending the tenure of BCT, which is 100-percent owned by ICTSI.

In a media bulletin, ICTSI said it had invested US$D100 million in the facilities, personnel, and general service capability of the Port of Gdynia since 2003

BCT is a key maritime gateway for feeder services, relaying cargo to/from the main North European hubs and as a main port of call for direct services.

“BCT processes approximately 250 intermodal trains operated by 13 intermodal operators on a monthly basis,” the press release said.