Asianews

Apollo Global Q1 net loss: P7.9-M (up 32%)

RIYADH, Saudi Arabia – The father of British boxer Tyson Fury said he means “no harm to any Ukrainian” on Wednesday after an altercation ahead of this week’s undisputed heavyweight clash with Oleksandr Usyk.

John Fury was sporting a mark in the center of his forehead after apparently head-butting a member of Usyk’s entourage during Monday’s media day.

“It’s a sport where you have big guys full of testosterone and things happen, emotions run high,” he said at the pre-fight open workout in Riyadh.

“Hear this: I mean no harm to any Ukrainian. I respect them, they’re going through all their troubles. But listen, we’re all fighters and that’s what you get from fighters,” Fury told the crowd.

Footage shared on X appeared to show Fury senior go eyeball-t o-eyeball with a man wearing an Usyk team tracksuit before lashing out at him with his head.

The 59-year-old was later seen with a cut forehead and two streams of blood pouring down his face, either side of his nose.

After his apology of sorts, Usyk and Tyson Fury took to the open-air ring in the sweltering Saudi evening for separate routines of shadow boxing and light sparring.

“I’m on top of the world, baby!” Fury said afterwards, when asked ab out his mood. “Who wouldn’t be enjoying it?”

The 6-foot-9 Fury, 39, will face the 37-year-old, 6-foot-3 Usyk on Saturday in the first heavyweight unification fight in 25 years.

Apollo Global Capital [APL 0.01, up 10.0%; 6% avgVol] [link] posted a Q1 net loss of P7.9 million, which was actually 32% better than its Q1/23 net loss of P11.5 million. The company’s Management’s Discussion and Analysis section is still just a “Plan of Operations” because the company still has yet to earn a single peso of revenue from the offshore mining operation that it was supposed to have started in early 2021. APL’s current President, Bonner Dytoc, was appointed back in late 2022 after the company’s previous President resigned.

MB bottom-line: Longtime readers will know how closely I’ve been following the trials and tribulations of the MB Siphon 1, the vessel that APL allegedly plans to use to eventually conduct its offshore mining. It’s now been 1199 days since APL reported that the MB Siphon 1 was “in position” and “ready to commence operations” before a series of storms, mechanical mishaps, financial transactions, big waves, and training outages conspired to keep the boat from its one and only purpose. I get the sense that even the PSE is getting fed up with the situation, which says a lot considering what they’ve been willing to tolerate from other companies; the PSE officially required APL to disclose the status of the MB Siphon 1 last month, and in response, APL said that the MB Siphon 1 is “currently undergoing its equipment maintenance and continuous enhancements to ensure safety, durability, and operational efficiency.” APL went on to say that it will commission another vessel to “supplement our operations for the year”. And the kicker: APL said that it is “on track to anticipate initial shipments within the second quarter of this year.” On track to anticipate? 60% of the time, that wordplay works every time.

Merkado Barkada is a free daily newsletter on the PSE, investing and business in the Philippines. You can subscribe to the newsletter or follow on Twitter to receive the full daily updates.

Merkado Barkada’s opinions are provided for informational purposes only, and should not be considered a recommendation to buy or sell any particular stock. These daily articles are not updated with new information, so each investor must do his or her own due diligence before trading, as the facts and figures in each particular article may have changed.

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