Maniolas

MANILA, Philippines – Aboitiz Power Corp., the power generation arm of the Aboitiz Group, has bought into Lima Utilities Corp. (LVC)  an electricity distribution utility operating inside the Lima Technology Center in Batangas. In its disclosure to the Philippine Stock Exchange, Aboitiz Power said the acquisition is part of the company’s move to expand its EnerZone brand. “The acquisition of the shares in Lima Utilities Corp.’s is in line with Aboitiz Power Corp. strategy of expanding its EnerZone brand,” the company said. Aboitiz has in its portfolio the Subic EnerZone Corp. (SEZ), which is an electric distribution utility managing the power distribution system of the Subic Bay Freeport Zone. SEZ commenced commercial operations in October 2003. In its disclosure, Aboitiz Power said it acquired eight million shares in LUC from Lima Land Inc. “The agreed enterprise value of LUC was derived by utilizing the commonly used valuation methods: discounted cash flows method and transaction and trading multiples analyses,” Aboitiz Power said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1  “The seller, Lima Land, Inc. is 100-percent owned by Aboitiz Land Inc. (AboitizLand). AboitizLand is a wholly owned subsidiary of Aboitiz Equity Ventures Inc., the parent company of Aboitiz Power Corp.,” Aboitiz Power also said in its disclosure. Lima Land used to be owned by the Alcantara Group and Marubeni Corp. of Japan but AboitizLand bought the company last year. Lima Land is the owner and operator of the 485-hectare Lima Technology Center, an industrial park registered with the Philippine Read More …

Keynote Speech Sharephil Conference On Enhancing Share Value And Protecting Minority Shareholders June 18, 2014 Dusit Hotel, Makati City  Her Majesty’s Ambassador Asif Ahman, Peza Director General Lilia De Lima, Sharephil Chairperson Evelyn Singson, Vice Chair Cherry Bernaldo, President Francis Lim, Sharephil Members, Honored Guests – Good Afternoon To All Of You. I’m Glad To Be Here With You, And Join The Advocates Of Good Governance. Introduction To Governance Business ( Article MRec ), pagematch: 1, sectionmatch: 1 MANILA, Philippines – There is no reason as important and compelling as the matter of ethics and governance, for us to convene today. I’m a businessman in a country where one local columnist once described business ethics in the Philippines as an oxymoron. How can this be? Perhaps because ethical behavior is not always rewarded, and unethical behavior is rarely punished. We have yet to learn that those who do the right thing will, in the long run, perform better than those who don’t. Business is finally alive to the hard issues involving governance, following the collapse of global corporations like Enron, Arthur Andersen, Vivendi and, most recently, Lehman brothers. The demise of these companies lies more in their failure in governance, rather than weakness in regulation. Troubled companies too big to fail were finally allowed to crash. Closer to home, governance is a relevant topic today with the constant stream of news about politics and corruption. There’s a public outcry for transparency – ironic in this age of Twitter and Facebook Read More …

BOTH public and private sector officials have again raised concerns about legal and policy barriers to investing in the power industry and meeting increasing demand.

AN AGRICULTURE official said yesterday that garlic production is enough, though the country still plans to import to meet demand.

THE TRANSPORTATION department has urged other airport authorities to take the cue from Ninoy Aquino International Airport (NAIA)’s move to include the P550 terminal fee in airline tickets, starting in October.