Tag: Daily Tribune

Mitsubishi and Ayala seal P18 billion GCash deal

Mitsubishi and Ayala seal P18 billion GCash deal

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Finally, the P18 billion GCash deal was sealed by Ayala Corp. and Mistubishi Corporation resulting in equal ownership of AC Ventures Holding Corp. which itself has a stake in the e-wallet giant’s operator, according to a Daily Tribune business news report. Take note, however, that the big deal is still subject to approval by regulators. The deal between the two corporations was previously disclosed last October.

To put things in perspective, posted below is an excerpt from the report of the Daily Tribune. Some parts in boldface…

Ayala Corp. (AC) and Japan’s Mitsubishi Corp. (MC) have finalized a P18.4-billion agreement that will give them equal ownership of AC Ventures Holding Corp. (ACV), which holds a stake in GCash operator Mynt. 

In a disclosure to the stock exchange on Wednesday, Ayala said it formally signed an investment agreement with Mitsubishi last 31 March for the subscription to 18,033,946 common and redeemable preferred shares of ACV.

AC noted that the agreement amends a previous disclosure from 18 October 2024, which outlined a binding term sheet between the two firms. The proceeds of the transaction will be used to redeem AC’s redeemable preferred shares in ACV and cover related costs.

The deal, however, remains subject to regulatory approvals, including amendments to ACV’s articles of incorporation by the Securities and Exchange Commission and clearance from the Philippine Competition Commission. 

Ayala President and CEO Cezar Consing previously said that the tie-up with Mitsubishi “can add meaningful value to Mynt, which will allow Mynt to deliver significant value to its over 94 million registered users.”

Ayala announced plans to bring in a strategic investor in August last year to strengthen GCash, which saw a surge in popularity during the pandemic. The conglomerate invested P22.4 billion in Mynt, increasing its stake in Globe Telecom, Inc.’s fintech arm.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think improvements with GCash will be realized under the Ayala-Mistubishi deal? Do you think the sealed deal will eventually get approved by the regulators? If you are a GCash user, what kind of improvements do you hope to see?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Three men arrested for armed robbery inside a village in Parañaque City

Three men arrested for armed robbery inside a village in Parañaque City

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Recently in the city of Parañaque, three who were involved in an armed robbery that took place inside a village were apprehended by the local police, according to a news report by the Daily Tribune.  

To put things in perspective, posted below is an excerpt from the Daily Tribune news report. Some parts in boldface…

Three suspected robbers involved in an armed robbery at a residence in Multinational Village, Parañaque City, have been arrested by the Parañaque City police.

According to a report received by Police Brigadier General Bernard R Yang, District Director, a group of six armed male suspects entered the parking lot of a house located at the intersection of Matthew Street and Multinational Avenue. The victims, two Chinese nationals and four Filipinos residing in the house, were held at gunpoint. The suspects bound the victims with duct tape and tied up the in-house security guard, S/G Julius, before moving to the master’s bedroom.

The primary victim, identified as Lin, Chinese national, was threatened and forced to open a vault, from which the suspects stole approximately ₱700,000.00 in cash, ₱280,000.00 from another victim, Yu, and assorted jewelry valued at around ₱400,000. The suspects fled the scene in a sedan, exiting through Multinational Gate 1.

Through coordinated follow-up operations, Parañaque City Police Station’s intelligence and operational teams traced the suspects’ vehicle movements. Witness testimony led to the identification of one suspect, alias “Brian.”

As a result of diligent investigative efforts, law enforcement apprehended three individuals, alias “Brian” (38), John (33), and Jevic (29), all drivers by occupation. Three additional suspects, identified as alias Ruel (40), Ramel (40) and alias Agustin (37), remain at large, with ongoing efforts to locate them.

Let me end this post by asking you readers: What do you think about this recent development? If you are a resident of Parañaque, are you concerned that there could armed robbers who would dare to enter gated villages and rob households? How do you think the group of armed robbers in the news report managed to enter the village and proceeded to rob the victims?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

LTO suspends license of controversial taxi driver

LTO suspends license of controversial taxi driver

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During the past Christmas season, it was widely reported in the local media that a certain taxi driver charged his passengers (foreigners) several thousands of Pesos at the Ninoy Aquino International Airport (NAIA) which was recorded on video which in turn became viral online. Very recently, the Land Transportation Office (LTO) suspended for 90 days the driver’s license of the controversial taxi driver, according to a news report by the Daily Tribune.  

To put things in perspective, posted below is an excerpt from the Daily Tribune news report. Some parts in boldface…

The Land Transportation Office has issued a 90-day preventive suspension on the driver’s license of a taxi driver caught in a viral video charging P10,000 fare to a foreign tourist at the Ninoy Aquino International Airport.

In the Show Cause Order issued to the driver of the taxi with license plate ABG 7845, LTO chief Atty. Vigor D. Mendoza II said that the driver was ordered to explain why no sanction would be imposed for violations of at least three provisions of the Joint Administrative Order 2014-01 for overcharging passengers, discourteous and arrogant to passengers and violation of the franchise.

Citing the result of the investigation, Mendoza said the taxi driver was identified as Arnel Acle.

“Under the guidance of Department of Transportation Secretary Jaime Bautista, we are now coordinating with the Land Transportation Franchising and Regulatory Board on the sanctions that may be imposed on the operator of the taxi,” Mendoza said.

Bautista earlier disclosed that the entire fleet of the taxi company that owns the cab will no longer be allowed to operate at the NAIA as Mendoza also stressed that the incident was a clear violation of the law.

He added that the investigation they conducted led to the identification of the taxi through a CCTV and later resulted in the identification of the driver.

To recall, the taxi was seen in parking area of the taxi company in Valenzuela City and based on the statement of the operator after the video went viral, Acle told them that he would go on vacation in his province.

Acle, however, did not report for work since he last appeared to remit his earnings to the taxi owner on 19 December and is believed to have gone into hiding.

“We are now coordinating with the Philippine National Police and our local offices to locate this man,” Mendoza said.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the suspension issued by the LTO will send a strong message to errant drivers that they will be held accountable for their actions?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673