Maniolas

MANILA, Philippines – The National Grid Corp. of the Philippines (NGCP), the country’s   transmission highway operator, has signed an agreement with the Stat Nuclear Electric Power Planning Design and Research Institute   (SNPDRI), a leading research facility on transmission and substation design in China, to improve power transmission in the Philippines.       “The memorandum of understanding aims to establish a strategic   cooperation between the research institute and the Philippine grid operator in terms of engineering design and construction of future   transmission lines and substation projects,” NGCP said yesterday.      The MOU is good for three years and is expected to help both parties   deal with current issues and advancements in electric power   technologies, said NGCP president and chief executive officer Henry   Sy Jr.      He said this was a very timely undertaking as NGCP is in the process of rehabilitating transmission facilities in the Visayas, which were severely damaged by Super Typhoon Yolanda.      “We are hopeful that with our combined technical know-how, NGCP can   improve and strengthen the transmission backbone in the said area to   withstand future calamities of greater magnitude and intensity,” he said.       NGCP’s chief administrative officer Anthony Almeda and engineering head Rico Vega, and SNPDRI’s Zhang Suoqing signed the MOU on Dec. 16 while Sy and head of the Chinese delegation Gai Qiqing witnessed   the signing.      Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Yolanda damaged most of NGCP’s facilities in areas hit by the typhoon but as of Dec. 24, NGCP said restoration works are almost   complete. Read More …

MANILA, Philippines – Diversified conglomerate San Miguel Corp. (SMC) will pursue the initial public offering (IPO) next year of its power generation arm that is on the lookout for acquisitions. Even the single largest shareholder in the conglomerate is expected to join the local bourse early in January, its top official said yesterday. SMC president and chief operating officer Ramon S. Ang said the company hopes to list power generation unit SMC Global Power Holdings Corp. “Actually, it’s not a problem to raise funds kasi nakapila na yung mga kausap natin. It’s more of acquisition,” Ang told reporters on the sidelines of the Philippine Stock Exchange’s 10th listing anniversary celebration. SMC Global, which has a power generation capacity of 2,500 megawatts and an equity value of at least $1.5 billion, filed its listing plan to corporate regulators in 2011 but the IPO was deferred. SMC earlier announced it is in talks with several potential buyers for a private equity deal or an IPO that will raise a minimum of $800 million. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 For its part, SMC’s majority shareholder Top Frontier Investment Holdings Inc. will also become a public company next year. Ang, who is also the president of Top Frontier, said the holding firm will debut in the local bourse in the first or second week of January. Top Frontier will list by way of introduction or without immediately having to sell shares to the public. The PSE and the Securities and Read More …

MANILA, Philippines – Businessman Manuel V. Pangilinan has acquired 34 percent of listed sugar miller Roxas Holdings Inc. (RHI) after investing P2.474 billion in the  firm. RHI  yesterday announced that Pangilinan  has been elected as vice chairman of its board of directors after the acquisition. Pangilinan is the founder and CEO of  First Pacific Co. Ltd. He is also chairman of Metro Pacific Investments Corp., the Philippine Long Distance Telephone Co., Manila Electric Co. and other major companies in the country. Two officials in Pangilinan-led companies were also elected to replace and serve the unexpired terms of RHI directors who resigned. They are lawyers Ray C. Espinosa and Alex Erlito S. Fider. Espinosa is the associate director of First Pacific, vice chairman of the Board of Trustees of the PLDT Beneficial Trust Fund, the general counsel of Manila Electric. He also sits as director in several companies. Fider is a director and corporate secretary of several Panglinan-led firms, including Metro Pacific Tollways Corp., Smart Communications, Inc. and Maynilad Water Services Inc. He is a senior partner of Picazo Buyco Tan Fider Santos Law Office. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 RHI is an integrated sugar milling business, exercising full management of Central Azucarera Don Pedro Inc., in Nasugbu, Batangas, as well as Central Azucarera de la Carlota Inc., and Roxol Bionergy Corp. In La Carlota, Negros Occidental. It also holds a 45-percent interest in sugar miller Hawaiian-Philippine Co. in Negros Occidental. RHI posted a lower year-on-year net Read More …