IFC, ADB poised to pour $245M into Maynilad IPO

MANILA, Philippines – Two of the world’s major multilateral institutions may come in as cornerstone investors for the initial public offering (IPO) of Maynilad Water Services Inc. next month, chipping in as much as $245 million combined. In its latest preliminary prospectus, Maynilad said International Finance Corp. (IFC), the private sector arm of the World

Maynard Ng quits board of Gokongwei firm

MANILA, Philippines – Maynard Ngu, the tech billionaire behind Cherry Mobile now linked to the billion-peso flood control scandal, has resigned from his post as independent director of Altus Property Ventures Inc. In a regulatory filing on Tuesday, Altus, a wholly owned subsidiary of Gokongwei-led Robinsons Land Corp., said its board of directors had accepted