Axelum profit down 32%
Axelum Resources Corp. said profit last year reached P526 million, down 32.18 percent from the prior year’s P775.6 million.
Revenues amounted to P5.17 billion, down 3 percent from the prior year’s P5.32 billion.
The company said despite the pandemic, it noted a “sharp rebound in the second half of 2020, to notch 16 percent revenue growth compared to the second half of 2019.”
The company said it benefited from the “steady performance” of its coconut milk powder and desiccated coconut businesses, and a record volume of coconut water, which grew 20 percent.
Recently, Axelum completed the expansion of its spray-drying facility featuring agglomerated technology to double production capacity of coconut milk powder. Axelum commissioned its state-of-the-art pressed coconut water plant to accelerate commercial production of its latest coconut water variant.
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Patria de Cebu breaks ground
Cebu Landmasters Inc. broke ground for the P1-billion redevelopment of Patria de Cebu in Cebu City.
Named after the historic Catholic recreation center in the ‘50s, Patria de Cebu will offer 4,320 square meters (sq.m.) of food, dining and entertainment spaces and 4,400 sq.m. of offices. It will also have a 180-key hotel that will be managed by French multinational chain Accor for its Mercure Cebu Downtown hotel.
The hotel component will open by 2024.
A collaboration between Cebu Landmasters and the Archdiocese of Cebu, the mixed-use development is eyed to revitalize the historic center of Cebu dominated by the Cebu Metropolitan Cathedral.
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AirAsia taps GCash
AirAsia Philippines has tapped Globe Telecom mobile wallet GCash to provide customers with convenient option to pay for their flights and other add-ons services when booking via online.
With the partnership, AirAsia guests can now use their GCash e-wallets to make secure mobile payments online through the airasia super app or by simply logging on to airasia.com, selecting their flights and add-ons, and proceeding to the payment page where they can pay via GCash through the ‘Wallet’ tab. GCash can also be used to make payments for airasia shop purchases via the super app.
Guests can also use their GCash e-wallets for cashless transactions at AirAsia check-in counters nationwide when paying for additional baggage, meals, and other flight add-ons while checking in.
