Udenna denies debt default as shares in Philippine-listed units slide - BusinessWorld Online

  • 📰 bworldph
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 68%

Philippines Headlines News

Philippines Latest News,Philippines Headlines

Philippine conglomerate Udenna Corp, owned by a close associate of former President Rodrigo Duterte, said on Monday it has received a notice of declaration of default from lenders, sending shares in related companies sharply down in early trade. READ:

UDENNA.PH

DITO CME fell as much as 9%, Chelsea Logistics sank 16%, Phoenix Petroleum dropped 6% and PH Resorts retreated as much as 7.5% in the first 30 minutes of trade. The broader index fell as much as 1.6%. “There has been, in fact, no event of default or, at the very least, no irremediable event of default,” Udenna said in a statement on Monday.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 9. in PH

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Udenna in default? Dennis Uy denies itUdenna Corp., the holding company of businessman Dennis Uy, on Saturday denied defaulting on loans of unit Clark Global City Corp. and said it will settle its obligations with Clark International Airport Corp. READ:
Source: MlaStandard - 🏆 20. / 55 Read more »

Udenna in default? Dennis Uy denies itUdenna Corp., the holding company of businessman Dennis Uy, on Saturday denied defaulting on loans of unit Clark Global City Corp. and said it will settle its obligations with Clark International Airport Corp. READ:
Source: MlaStandard - 🏆 20. / 55 Read more »

Active players in disrupted Philippine media - BusinessWorld OnlineFilipino businessman Manuel V. Pangilinan has made a mark in the Philippine business community as a chair in numerous household names in telecommunications, electricity, and infrastructure, to name a few. Nonetheless, his leadership also reaches the country’s media landscape through the conglomerate MediaQuest Holdings, Inc. (MediaQuest), home to some of the biggest names in television, […] MediaquestHoldings has a full plate, quite a leap from being No. 3. My question is whether they will follow the success formula of, say ABSCBN or will they come up with their own unique template?
Source: bworldph - 🏆 9. / 68 Read more »

Coronavirus deepens Philippine learning crisis - BusinessWorld OnlineNATIVIDAD ARAGO, 74, worries about the future of her seven-year-old grandson, who has barely learned anything in his two years of online classes amid a coronavirus pandemic.
Source: bworldph - 🏆 9. / 68 Read more »

Valuable drivers of Philippines’ connectivity - BusinessWorld OnlineThe past two years saw a heightened need for reliable and steady connectivity, whether one is at home or outside, especially as digital is further embedded into consumers’ lifestyles. The call for telecommunications companies to attend to that demand was even raised by the previous President in his State of the Nation Address in 2020. […]
Source: bworldph - 🏆 9. / 68 Read more »

Philippines ready for monkeypox, says DoH - BusinessWorld OnlineThe Philippines is prepared to combat a potential monkeypox outbreak, authorities said on Sunday, after the World Health Organization (WHO) declared a global health emergency due to its rapid spread worldwide. READ: The easy fix for Monkeypox is that gay men's penises are put on lockdown. If all governors declared all forms of gay sex to be temporarily illegal for 3-4 months, that would stop 95% of Monkeypox spread. Am I wrong about that?
Source: bworldph - 🏆 9. / 68 Read more »