Made It Through Mum

Leading fiber broadband and technology provider Converge ICT Solutions Inc. has booked strong financial and operating gains in the first quarter of 2025 as its consolidated revenues grew by 13.2 percent to P10.8 billion and net income jumped by 18.3 percent to P3 billion year-on-year. This growth is attributed to a steady increase in its customer base, as Converge continues to deliver consistent value and adapt to evolving market demands.  In the first three months of the year, Converge added more than 140,000 residential subscribers, bringing its total residential subscriber count to 2.7 million by the end of the period. Revenues in this segment rose to P9.1 billion, up by 11.5 percent year-over-year. Furthermore, enterprise revenues surged by 22.9 percent to P1.7 billion versus the year-ago quarter, with all enterprise segments demonstrating impressive double-digit growth. Notably, the Wholesale segment experienced a remarkable 54 percent increase as the company secured new custo...

Dominion Holdings, Inc. (DHI), formerly known as BOO Leasing and Finance, Inc., reported a net income of ₱36.5 million for the first quarter of 2025.  This represents a significant decrease compared to the ₱75.9 million earned during the same period in 2024.  The primary reason for this decline is the substantial ₱3.2 billion cash dividend declared in May 2024. This dividend payout had a considerable impact on DHI's financial position. Total assets decreased to ₱3.4 billion from ₱6.5 billion in Q1 2024.  Similarly, stockholder's equity fell to ₱3.4 billion from ₱6.4 billion year-over-year.  Total liabilities, however, remained relatively stable at ₱11.0 million.  The reduced funds available for investment following the dividend distribution directly contributed to the lower income reported for Q1 2025.  The company's financial statements reflect a strategic decision prioritizing shareholder returns, resulting in a temporary decrease in earnings.  Futur...

BDO Unibank Inc. (BDO), in collaboration with other prominent Asian banks, has produced the Asia Transition Finance Annual Report 2023 to assist Asian economies in making a "just and orderly transition" to a more sustainable future. BDO is a member of The Asian Transition Finance (ATF) Study Group, a private-led project with a core of Asian-based banks. The ATF Study Group was formed in recognition of the critical role that transition finance (TF) will play in assisting Asian nations as they move toward net-zero emissions. Its purpose is to develop practical recommendations to enhance current frameworks, such as worldwide standards and taxonomies, when financial institutions (FIs) review and evaluate TF instances. In 2022, the ATF Study Group published the ATF Guidelines to provide transition finance practitioners with a practical guide to assess transition projects. The Study Group simultaneously published the ATF SG Activity Report to share the challenges and suggested su...