House of Investments and Ayala Announce Strategic Merger of Education Companies

Date Published: October 2, 2018

MAKATI, Philippines – October 1, 2018  House of Investments Inc. (“HI”), HI’s education holding company iPeople, inc. (“iPeople”), Ayala Corporation (“AC”) and AC’s wholly-owned education subsidiary AC Education, Inc. (“AC Education”) signed the definitive agreements for the merger of AC Education with iPeople.  The merger shall be subject to the approval of the stockholders of AC Education and iPeople, and securing the necessary regulatory approvals. Post-merger, listed iPeople shall be the surviving entity, with HI and AC controlling 51.3% and ...

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Yuchengco, Ayala groups approve merger of education businesses

Date Published: October 2, 2018

Source: www.bworldonline.com

THE Ayala and Yuchengco groups have approved the merger of their education businesses valued at around P15.5 billion, with listed firm iPeople, Inc. to be the surviving entity.

In a joint statement filed after trading hours on Monday, Ayala Corp. (AC) and Yuchengco-led House of Investments, Inc. (HI) said they have signed the definitive agreements merging their respective education units, AC Education, Inc. (AEI) and iPeople, Inc.

HI will control 51.3% of the surviving entity iPeople, while AC will have a ...

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BOI approves registration of 20-MW solar power project

Date Published: September 20, 2018

Source: business.inquirer.net

PetroSolar Corp. yesterday said it had secured the registration at the Board of Investments of its 20-megawatt “Tarlac-2” project.

“With BOI’s award of the incentives registration for our Tarlac-2 project, PetroSolar is closer to securing the confirmation of commerciality from the Department of Energy (DOE) needed for project construction to begin,” PetroSolar president Milagros V. Reyes said in a statement.

“We are excited by this new investment which will see our solar asset increase in capacity from 50 MW to 70 ...

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Mapúa graduate places 10th in June 2018 architecture boards

Date Published: July 24, 2018

Mapúa University sustained its excellent performance in board examinations, producing another topnotcher in the June 2018 Architect Licensure Examination.

Garnering an 82.10% rating, Arch. Enelle Louie H. Marallag placed 10th in the board examination administered by the Professional Regulation Commission (PRC).

This achievement follows up the University and its alumni’s success in the January 2018 Architect Licensure Examination and raises the number of Mapúa-produced topnotchers in 11 of PRC-administered licensure examinations since year 2000 to 351. Mapúa also dominated three other recent licensure examinations, with ...

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Mapúa shows exemplary performance in 2018 boards

Date Published: July 24, 2018

Mapúa University takes pride in its growing list of exemplary graduates with a number of Mapúans finishing this year’s board examinations with high marks, earning them spots in the Top 10 board passers.

Peter Matthew Paul T. Fowler, with a rating of 83%, ranked first in the May 2018 Chemical Engineer Licensure Examination. Out of 636 examinees in the country, only 296 board takers passed the exam.

In the same month, five graduates of the University’s Civil Engineering program dominated the Board ...

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JOINT PRESS STATEMENT BY THE HOUSE OF INVESTMENTS AND AYALA CORPORATION REGARDING THE PROPOSED MERGER OF THEIR EDUCATION GROUPS

Date Published: January 8, 2018

iPeople, inc. (“iPeople”), the listed holding company for the education sector of House of Investments Inc., a member of the Yuchengco Group of Companies, and AC Education, Inc. (“AEI”), the wholly-owned education arm of Ayala Corporation, have executed a Non-Binding term sheet for their potential merger.  Under the Non-Binding term sheet, the parties agreed to an exclusivity period to complete due diligence, and to finalize the terms and conditions of the proposed merger within the first quarter of ...

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Yuchengco’s iPeople on track to hit targets despite lower Q1 profit

Date Published: July 5, 2017

Source: www.bworldonline.com

IPeople, Inc., which operates Mapua University, said in a statement that its Senior High School (SHS) program could mitigate the effects of the K-12 program on the company’s financial performance.

The listed firm posted earnings of P136 million in the first three months of 2017, lower than the P209 million it delivered in the same period in 2016 following a 15% year-on-year decline in consolidated revenues to P543 million.

“Based on Q1 results, we are on track to meet our 2017 targets. ...

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Mapúa Institute of Technology now a university

Date Published: May 29, 2017

Source: GMA News Online

The Mapua Institute of Technology is now Mapua University after it received its university status grant from the Commission on Higher Education (CHED) on Thursday.

“The grant of university status caps a protracted process of quality enhancement in Mapúa education and of research capability building. We feel fulfilled and honored by this award. It behooves us to strive to reach greater heights,” said Mapúa president and chief executive officer Dr. Reynaldo B. Vea in a news release posted ...

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EEI rolls out scaffolding rental business

Date Published: May 19, 2017

Source: Inquirer.net

Yuchengco group-led construction firm EEI Corp. has rolled out a new scaffolding and formworks rental business in partnership with two Japanese firms.

The new unit JP System Asia Inc. (JPSAI) is a joint venture among EEI’s subsidiary Equipment Engineers Inc., Japan’s leading scaffolding and allied products rental company Sansin Sangyo Co. Ltd. and KYC Machine Industry Co. Ltd., a Japanese construction machine manufacturer.

In a disclosure to the Philippine Stock Exchange on Friday, EEI said JPSAI had been formally launched in April.

JPSAI ...

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PetroEnergy 1Q, 2017 consolidated net income up by 300%

Date Published: May 17, 2017

PetroEnergy 1Q, 2017 consolidated net income up by 300% PetroEnergy Resources Corporation (PERC) posted a 327% increase in its consolidated net income of US$ 4.306MM in 1Q 2017 compared to US$ 1.009MM in the same period last year. The 4-fold surge was mainly due to higher electricity sales from the Company’s renewable energy (RE) development and power generation assets and slightly higher crude oil revenues from the Gabon oil production. For the same reason, the net income attributed to equity ...

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