Industrial News

CIRTEK Holdings Philippines Corp. has halted the payment of cash dividends, saying the move was needed to keep the business running. "[I]n a special meeting held on 7 March 2025, upon recommendation of management, [the company's board] approved the suspension of payment of the declared cash dividends until further notice for all [its] preferred shares," the firm told the stock exchange on Monday. The company said that the suspension was meant "to manage liquidity and to preserve its resources to ensure long-term sustainability of its business." In January, Cirtek had declared cash dividends for the unlisted preferred A and B-1 [...]

Ayala-owned Integrated Microelectronics Inc. (IMI) reported heavy losses from its struggling German display subsidiary, VIA Optronics. IMI said it booked $13.3 million losses from its 50 percent-owned subsidiary VIA in 2024 as it cut back its operating staff in the face of rising competition and logistics costs as well as its inability to bounce back from the COVID pandemic. A big chunk of the losses or $4.3 million came from its decision to delist from the New York Stock Exchange last year. The delisting came after VIA ditched former CEO Jürgen Eichner for “cause,” citing material violations of fiduciary duties [...]

Aerospace and defense company Leonardo UK is poised to secure a new contract to supply six additional AgustaWestland AW159 Wildcat anti-submarine warfare helicopters to the Philippine Navy for P42.290 billion (approx USD 745 million). Philippines’ Defense Secretary Gilberto Teodoro Jr. said at a congressional budget hearing in mid-September that they were negotiating for the procurement of additional anti-submarine warfare helicopters for the Navy’s newest warships. While there was no direct mention of Leonardo, he said that “it doesn’t make sense to have a different platform anymore” in procuring the new anti-submarine warfare helicopters and related systems to avoid re-tooling. Naval [...]

DENMARK-BASED logistics giant A.P. Moller is acquiring up to 40% of Ayala Corp.’s logistics subsidiary AC Logistics Holdings Corp. A.P. Moller Capital, through EMIF II Holding III B.V., will acquire the stake in AC Logistics under a share subscription agreement, subject to the final subscription price and the fulfillment of several conditions, including regulatory approvals and the achievement of certain business milestones, Ayala Corp. said in a regulatory filing on Thursday. Ayala Corp. did not provide further details on the transaction. A.P. Moller Capital, an affiliate of Danish logistics giant A.P. Moller Holding, is an infrastructure fund manager focused on [...]

MANILA, Philippines — Ayala Corp. will sell 40 percent of its four-year-old logistics arm to Danish transportation and logistics giant AP Moller to help the company scale operations amid growing demand for services. Ayala said in a statement on Thursday that it had entered into an agreement with AP Moller Capital, through EMIF II Holding III BV, for the latter to acquire part of AC Logistics via share subscription. The country’s oldest conglomerate did not disclose further details, including the transaction amount, noting that discussions about the final subscription price were ongoing. It noted that the acquisition would help address [...]

Onsemi disclosed details of a proposal submitted to the Board of Directors of Allegro MicroSystems, Inc. to acquire the company for $35.10 per share in cash for each share of Allegro’s common stock on a fully diluted basis at an implied enterprise value of $6.9 billion. onsemi has made numerous attempts over the past six months to enter into constructive discussions regarding a potential transaction. The most recent Proposal was submitted to Allegro on February 12, 2025, and represents an increase over an initial $34.50 per share proposal submitted on September 2, 2024. “We believe the combination of onsemi and [...]

Synopsis "The CHIPS act is a horrible, horrible thing. We give hundreds of billions of dollars and it doesn't mean a thing. They take our money and they don't spend it," Trump said in a speech to Congress. President Donald Trump said Tuesday US lawmakers should get rid of a landmark 2022 bipartisan law to give $52.7 billion in subsidies for semiconductor chips manufacturing and production and use the proceeds to pay debt. "The CHIPS act is a horrible, horrible thing. We give hundreds of billions of dollars and it doesn't mean a thing. They take our money and they don't spend it," Trump said in [...]

Ayala Corporation, the country’s oldest conglomerate, is no longer selling manufacturing subsidiary Integrated Micro-electronics Inc. as the unit has managed to turnaround after measures were taken to cut losses. In an interview, Ayala Chief Finance Officer Alberto M. de Larrazabal said that they had put the company in the market last year but, since no deal was made, they have opted to get it into better share. “We’ve pulled it out of the market. We’re not entertaining offers at this point,” said Larrazabal noting that, when IMI was on the selling block last year, they did not get any good [...]

In the world of electronics and semiconductor manufacturing, few names resonate as strongly as Arthur R. Tan. Recently designated by President Ferdinand "Bongbong" Marcos Jr. (PBBM) as the Semiconductor and Electronics Industry Champion of the Philippines, Tan has become a leading force in the country’s technological revolution. As the President and CEO of Integrated Micro-Electronics, Inc. (IMI), Tan’s leadership has shaped both his company and the broader semiconductor and electronics sectors, driving growth, innovation, and global competitiveness. A Solid Foundation: Education and Early Career Arthur R. Tan’s journey began with a strong academic foundation in Electronics and Communications Engineering, which [...]

Based on the latest PSA data, the country’s trade balance – the difference between the value of exports and imports – expanded by more than three percent to a deficit of  $54.21 billion in 2024 from a $52.6-billion shortfall in 2023. As imports pick up while exports continue to drop MANILA, Philippines — The country’s trade shortfall widened to $54.21 billion in 2024, the highest trade gap in two years or since the December 2022 deficit of $57.65 billion, as imports increased while exports continued to deteriorate, according to the Philippine Statistics Authority. Based on the latest PSA data, the [...]