Alsons Consolidated Resources (ACR), the publicly listed company of the Mindanao-focused Alcantara Group, reported an 11% increase in its net income for 2024 – rising to Php2.53 billion from Php2.28 billion in 2023. This growth was primarily driven by rising electricity demand, favorable trading opportunities in the Wholesale Electricity Spot Market, and the successful launch of its Retail Electricity Supply (RES) unit. Furthermore, the company’s performance last year reflects the value of&nbsp;&nbsp;ACR’s strategic initiatives and investments and its continued commitment to expanding its presence in the energy sector while capitalizing on market dynamics.

“In the first quarter of 2024, we faced disruptions caused by the 2023 Mindanao earthquake. Despite this challenge, we demonstrated resilience and achieved a strong recovery, closing the year with solid financial performance,” said ACR Deputy Chief Financial Officer Philip Edward B. Sagun.

Sagun attributed ACR's financial growth to the continued performance of the 237-Megawatt Sarangani Energy Corporation, which remains one of the most cost-efficient baseload power sources in Mindanao. Additionally, the implementation of the ancillary services agreements for Western Mindanao Power Corporation in Zamboanga and Mapalad Power Corporation in Iligan played a vital role in bolstering the company’s earnings.

“We are confident that our growth prospects will continue, fueled by the anticipated increase in power demand and our strategic focus on expanding our RES portfolio," Sagun added.

In 2024, ACR achieved key milestones, including the completion and operational launch of its first renewable power plant—the 14.5-MW Siguil Hydropower Plant in Sarangani. The company's new RES unit has also gained momentum, securing major clients such as Holcim Philippines and Metro Retail Stores Group, Inc., with a combined contracted capacity of 43 MW.

“We remain steadfast in our commitment to expanding our renewable energy portfolio, with several projects currently under development. This year, we are targeting to launch our first large-scale solar power project in Mindanao, marking a significant milestone in our sustainability strategy,” Sagun concluded.

Alsons Consolidated Resources (ACR), the publicly listed company of the Mindanao-focused Alcantara Group, reported an 11% increase in its net income for 2024 – rising to Php2.53 billion from Php2.28 billion in 2023. Alsons Consolidated Resources (ACR), the publicly listed company of the Mindanao-focused Alcantara Group, reported an 11% increase in its net income for 2024 – rising to Php2.53 billion from Php2.28 billion in 2023. This growth was primarily driven by rising electricity demand, favorable trading opportunities in the Wholesale Electricity Spot Market, and the successful launch of its Retail Electricity Supply (RES) unit. Furthermore, the company’s performance last year reflects the value of&nbsp;&nbsp;ACR’s strategic initiatives and investments and its continued commitment to expanding its presence in the energy sector while capitalizing on market dynamics.“In the first quarter of 2024, we faced disruptions caused by the 2023 Mindanao earthquake. Despite this challenge, we demonstrated resilience and achieved a strong recovery, closing the year with solid financial performance,” said ACR Deputy Chief Financial Officer Philip Edward B. Sagun.Sagun attributed ACR's financial growth to the continued performance of the 237-Megawatt Sarangani Energy Corporation, which remains one of the most cost-efficient baseload power sources in Mindanao. Additionally, the implementation of the ancillary services agreements for Western Mindanao Power Corporation in Zamboanga and Mapalad Power Corporation in Iligan played a vital role in bolstering the company’s earnings.“We are confident that our growth prospects will continue, fueled by the anticipated increase in power demand and our strategic focus on expanding our RES portfolio," Sagun added.In 2024, ACR achieved key milestones, including the completion and operational launch of its first renewable power plant—the 14.5-MW Siguil Hydropower Plant in Sarangani. The company's new RES unit has also gained momentum, securing major clients such as Holcim Philippines and Metro Retail Stores Group, Inc., with a combined contracted capacity of 43 MW.“We remain steadfast in our commitment to expanding our renewable energy portfolio, with several projects currently under development. This year, we are targeting to launch our first large-scale solar power project in Mindanao, marking a significant milestone in our sustainability strategy,” Sagun concluded.

Electricity / Gas / Resources / Energy

Financial results announcement

Listed companies

Local companies

Alsons Consolidated Resources (ACR), the publicly listed company of the Mindanao-focused Alcantara Group, reported an 11% increase in its net income for 2024 – rising to Php2.53 billion from Php2.28 billion in 2023. 

ACR Net Income Rises 11% in 2024  

MANILA, PHILIPPINES — An innovative funding program backed by the Australian government was recently launched, encouraging further improvement in gender equity business practices while giving women-led and women-owned businesses in the Philippines scalable access to growth capital.

Called SheSecure, the funding program is an investment product that applies a “gender lens” in support of the growth capital needs of women-owned and women-led small businesses (WSBs) in the Philippines.

SheSecure offers financing of up to PHP 30 million per enterprise together with interest incentives tied to improvements in gender equality practices. These funds can be utilized by the enterprises to fuel expansion, invest in new technologies, or support their working capital requirements.

It was developed by ARQ SME Business Development Company (ARQ SME BDC), a pioneering SME-focused debt and mezzanine investor, in collaboration with the Australian-funded <a href="https://investinginwomen.asia/">Investing in Women</a> initiative.

The Australian Embassy’s Deputy Head of Mission, Dr. Moya Collett, led the launch of the financing program in Makati City on December 5, 2024.&nbsp; “Australia is committed to supporting gender equality, and we are investing in women’s economic empowerment to help achieve this,” said Dr Collett.&nbsp; “Australia is pleased to support local partnerships that develop innovative solutions such as SheSecure by ARQ because evidence shows that incorporating a gender lens into an investment strategy improves financial performance and impact outcomes for investors.”&nbsp;&nbsp;

Bridging critical gaps for women entrepreneurs by offering "unfair advantages"

“SheSecure was developed to tackle two critical gaps faced by larger women-led and women-owned small businesses in the Philippines,” said Abigail Tan, ARQ SME BDC Managing Partner.

“The lack of appropriate capital is a major obstacle for growth. By offering tailored financing paired with strategic support, SheSecure aims to help bridge this gap for women entrepreneurs ready to scale,” she noted.

The SheSecure launch program was also a venue for women founders such as Maita Madlambayan (HausTalk), Ann Cuisia (Traxion), Abetina Valenzuela-Mader (EQUILIFE), and Monette Iturralde-Hamlin (TeamAsia) to converge and tackle the importance of capital access for women entrepreneurs, as well as share insights from their respective entrepreneurial journeys.

Valenzuela-Mader, a two-time founder in the healthcare industry, having built EQUILIFE and co-founded Kindred Health, spoke of leveraging “unfair advantages” to get ahead in business.

“We have different unfair advantages. [My family] was mine, and SheSecure is another unfair advantage. So don’t be hesitant to explore how you can get ahead with certain available funds or partnerships. If it’s available to you, then search it out. If it’s not your family, it’s things like [SheSecure], which were not available before.”

Addressing the ‘double bottomline’&nbsp;

With a strong commitment to the "double bottomline" approach, SheSecure is designed to drive financial profitability and social responsibility by fostering gender equality in business.

"By providing incentives linked to measurable progress in gender performance, SheSecure empowers companies to mainstream gender equality—ensuring opportunities and leadership roles are accessible to everyone, regardless of gender,” said Tan.

Speaking as a Male CEO Ally of the SheSecure launch event, PayMongo CEO Jojo Malolos spoke of the power of creating more diverse, equitable, and inclusive work cultures.

“When we create a space for diversity, when we champion women and value their perspectives, amazing things happen. But let's not sugar coat it. Women and entrepreneurs face challenges that their male counterparts don't. So we need to be more than just cheering from the sidelines and actively breaking down the barriers that hold women back. It's not charity — it's strategy. And when women succeed, businesses flourish, and we've proven that communities thrive and economies grow stronger,” Malolos pointed out.

Creating a ‘win-win’ network for women-led businesses and for society

While SheSecure has specific criteria, ARQ SME BDC is committed to connecting applicants to suitable sources of capital, even if they don't fully meet the program's qualifications. This initiative aligns with the broader vision of creating “gender-smart enterprises” that deliver strong financial returns alongside positive social impact.

"Our goal with SheSecure is to nurture progressive growth-oriented businesses that seek to further adopt and improve their gender-inclusive practices while being the “unfair advantage” as the SME captures visible opportunities" Tan added. "By prioritizing both profit and social progress, we create a win-win for businesses, their customers, and society as a whole."

To learn more about SheSecure, visit <a href="https://www.arqcapital.com/shesecure">https://www.arqcapital.com/shesecure</a>.

<img style="width: 100%;" src="https://imagedelivery.net/H6_s_Eb_ylTWnSEV3HlmYQ/918643b1-6fe6-4610-3a9f-e0e55e71c400/public" alt="Abigail Tan, Managing Partner of ARQ SME BDC, is joined by Dr. Moya Collett, Australian Embassy’s Deputy Head of Mission, and Ermelita Valdeavilla, Chair of the Philippine Commission on Women, in launching SheSecure in the Philippines." />MANILA, PHILIPPINES — An innovative funding program backed by the Australian government was recently launched, encouraging further improvement in gender equity business practices while giving women-led and women-owned businesses in the Philippines scalable access to growth capital.Called SheSecure, the funding program is an investment product that applies a “gender lens” in support of the growth capital needs of women-owned and women-led small businesses (WSBs) in the Philippines.SheSecure offers financing of up to PHP 30 million per enterprise together with interest incentives tied to improvements in gender equality practices. These funds can be utilized by the enterprises to fuel expansion, invest in new technologies, or support their working capital requirements.It was developed by ARQ SME Business Development Company (ARQ SME BDC), a pioneering SME-focused debt and mezzanine investor, in collaboration with the Australian-funded <a href="https://investinginwomen.asia/">Investing in Women</a> initiative.The Australian Embassy’s Deputy Head of Mission, Dr. Moya Collett, led the launch of the financing program in Makati City on December 5, 2024.&nbsp; “Australia is committed to supporting gender equality, and we are investing in women’s economic empowerment to help achieve this,” said Dr Collett.&nbsp; “Australia is pleased to support local partnerships that develop innovative solutions such as SheSecure by ARQ because evidence shows that incorporating a gender lens into an investment strategy improves financial performance and impact outcomes for investors.”&nbsp;&nbsp;Bridging critical gaps for women entrepreneurs by offering "unfair advantages"<img style="width: 100%;" src="https://imagedelivery.net/H6_s_Eb_ylTWnSEV3HlmYQ/9398a1ba-1cc0-426b-7a69-6a7eff9cb300/public" alt="Also supporting the launch of SheSecure are Edmund Solilapsi, Co-Managing Partner of ARQ SME BDC; Maita Madlambayan, President &amp; COO of HausTalk; Jojo Malolos, CEO of PayMongo, Eleanor Keppelman, Impact Investing Director of Investing in Women; Ann Cuisia, Founder and CEO of Traxion Tech, Abetina Valenzuela-Mader, Founder and CEO of EQUILIFE, Monette Iturralde-Hamlin, Chair of TeamAsia, and master of ceremonies Lia Guerrero-Santos." />“SheSecure was developed to tackle two critical gaps faced by larger women-led and women-owned small businesses in the Philippines,” said Abigail Tan, ARQ SME BDC Managing Partner.“The lack of appropriate capital is a major obstacle for growth. By offering tailored financing paired with strategic support, SheSecure aims to help bridge this gap for women entrepreneurs ready to scale,” she noted.The SheSecure launch program was also a venue for women founders such as Maita Madlambayan (HausTalk), Ann Cuisia (Traxion), Abetina Valenzuela-Mader (EQUILIFE), and Monette Iturralde-Hamlin (TeamAsia) to converge and tackle the importance of capital access for women entrepreneurs, as well as share insights from their respective entrepreneurial journeys.Valenzuela-Mader, a two-time founder in the healthcare industry, having built EQUILIFE and co-founded Kindred Health, spoke of leveraging “unfair advantages” to get ahead in business.“We have different unfair advantages. [My family] was mine, and SheSecure is another unfair advantage. So don’t be hesitant to explore how you can get ahead with certain available funds or partnerships. If it’s available to you, then search it out. If it’s not your family, it’s things like [SheSecure], which were not available before.”Addressing the ‘double bottomline’&nbsp;With a strong commitment to the "double bottomline" approach, SheSecure is designed to drive financial profitability and social responsibility by fostering gender equality in business."By providing incentives linked to measurable progress in gender performance, SheSecure empowers companies to mainstream gender equality—ensuring opportunities and leadership roles are accessible to everyone, regardless of gender,” said Tan.Speaking as a Male CEO Ally of the SheSecure launch event, PayMongo CEO Jojo Malolos spoke of the power of creating more diverse, equitable, and inclusive work cultures.“When we create a space for diversity, when we champion women and value their perspectives, amazing things happen. But let's not sugar coat it. Women and entrepreneurs face challenges that their male counterparts don't. So we need to be more than just cheering from the sidelines and actively breaking down the barriers that hold women back. It's not charity — it's strategy. And when women succeed, businesses flourish, and we've proven that communities thrive and economies grow stronger,” Malolos pointed out.Creating a ‘win-win’ network for women-led businesses and for societyWhile SheSecure has specific criteria, ARQ SME BDC is committed to connecting applicants to suitable sources of capital, even if they don't fully meet the program's qualifications. This initiative aligns with the broader vision of creating “gender-smart enterprises” that deliver strong financial returns alongside positive social impact."Our goal with SheSecure is to nurture progressive growth-oriented businesses that seek to further adopt and improve their gender-inclusive practices while being the “unfair advantage” as the SME captures visible opportunities" Tan added. "By prioritizing both profit and social progress, we create a win-win for businesses, their customers, and society as a whole."To learn more about SheSecure, visit <a href="https://www.arqcapital.com/shesecure">https://www.arqcapital.com/shesecure</a>.

Female Related

Government offices / organizations

SMEs

 Scaling Beyond Small: Australia-Backed Program Funds Filipina Entrepreneurs in Building Sustainable Gender-Equitable Enterprises

<h1>Getty Images Launches Commercially Safe Generative AI Offering</h1>Trained on Getty Images’ world-class creative content, Generative AI by Getty Images allows customers to explore the power of generative AI with full protection and usage rights<img style="max-width:100%;height:auto;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/02cab4bf9cf2fa5c9bdfa912e5beef328a1550695d44e86364205350e9296f12/image.png" alt="Image"/><iframe src="https://www.youtube.com/watch?v=wDle-HsJgwE" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe><img style="max-width:100%;height:auto;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/55e1763df3c5a830c908df18c400db6c8e85e323b8152d76b6188ef2c58e1065/image.png" alt="Image"/>Getty Images (NYSE: GETY) is a preeminent global visual content creator and marketplace that offers a full range of content solutions to meet the needs of any customer around the globe, no matter their size. Through its Getty Images, iStock and Unsplash brands, websites and APIs, Getty Images serves customers in almost every country in the world and is the first-place people turn to discover, purchase and share powerful visual content from the world’s best photographers and videographers. Getty Images works with over 541,000 contributors and more than 310 content partners to deliver this powerful and comprehensive content. Each year Getty Images covers more than 160,000 news, sport and entertainment events providing depth and breadth of coverage that is unmatched. Getty Images maintains one of the largest and best privately-owned photographic archives in the world with millions of images dating back to the beginning of photography.

For company news and announcements, visit our Newsroom.Ilse Noguez
ilse.noguez@gettyimages.com

Marketing / Research

Blockchain / Web3

STEM (Science, Tech, Engineering, Math)

Trained on Getty Images’ world-class creative content, Generative AI by Getty Images allows customers to explore the power of generative AI with full protection and usage rights