HONG KONG — The deadlock over Metro Pacific Tollways Corp.’s (MPTC) long-delayed toll rate petitions continues after the Toll Regulatory Board (TRB) extended the period for the two parties to reach a settlement.
Nov 152015
Aug 262013
MANILA, Philippines – Metro Pacific Tollways Corp. (MPTC), the largest toll road management firm in the Philippines, said it is on track to hitting its full-year traffic growth target despite the recent harsh weather that disrupted operations. The tollway unit of infrastructure conglomerate Metro Pacific Investments Corp. (MPIC) is also waiting for government approvals for new projects and higher toll rates, a company official said. “The good thing is, we were ahead for the first seven and a half months. We should still meet target in terms of traffic (growth),” MPTC chief financial officer Christopher Lizo said. “Traffic growth target was three percent for the entire (toll road) network,” he said. From January to July, MPTC recorded a 6.5-percent increase in traffic for its portfolio, which is composed of the 94-kilometer Subic-Clark-Tarlac Expressway (SCTEx), the 84-km North Luzon Expressway (NLEx) and the 14-km Manila-Cavite Expressway (Cavitex). However, Lizo said Typhoon Maring, the first major tropical storm this year, badly affected operations of MPTC. Maring and a southwest monsoon poured heavy rains in Luzon, resulting in flooding and the collapse of the Pasig-Potrero Bridge along SCTEx. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “To some extent when we do the budget, we incorporate the impact of extreme weather conditions,” Lizo said. To jack up revenues, MPTC is hoping to receive government approval for a 12-percent rate increase for NLEX. “In revenues, we are behind target but we’re still up against last year,” Lizo said. “We’re waiting for the tariff Read More …
Jul 142013
MANILA, Philippines – Metro Pacific Tollways Corp. (MPTC), a unit of infrastructure conglomerate Metro Pacific Investments Corp. (MPIC), has set a P3-billion capital expenditure program for its road construction projects this year. MPTC president and CEO Ramoncito Fernandez, in an interview with The STAR on the sidelines of the 6th NLEX (North Luzon Expressway) Tara Na sa Norte Tourism and Travel Fair, said a big chunk of the budget, or P1.7 billion, would go to the Segment 9 project which involves a 2.4-kilometer stretch from Valenzuela City to MacArthur Highway. The project is expected to be completed by the middle of next year. Fernandez said these expansion projects would promote tourism, particularly in the northern part of Luzon where most of their facilities are located. MPTC unit Manila North Tollway Corp. (MNTC) operates the 84-kilometer NLEX and was recently awarded by the state-run Bases Conversion and Development Authority (BCDA) the right to operate and maintain the 94-kilometer Subic-Clark-Tarlac Expressway (SCTex) for 33 years. “Our educated guess is that tourism has been playing a good part in the traffic increase in NLEX through the years,” he said. For the first half, traffic volume at NLEX rose five percent to an average 172,000 vehicles daily compared to the same period in 2012. The five percent growth is expected to be sustained by the end of the year. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Fernandez said this is significantly higher or double the historical growth of two to four percent Read More …
Feb 282013
MANILA, Philippines – Infrastructure conglomerate Metro Pacific Investments Corp. (MPIC), fresh from beating its full-year core earnings guidance, expects another banner year amid continuous economic growth. Core net income, which strips out currency and derivatives-related items, jumped 30 percent to P1.5 billion in the fourth quarter. This allowed MPIC to post a 28-percent uptick in core profit to P6.5 billion in 2012 from P5.1 billion in 2011. It is also higher than the company’s P6.3-billion core profit guidance. “The strong results for 2012 reflect significant improvements in service levels and efficiency gains for all our operating companies,” MPIC chairman Manuel V. Pangilinan said in a briefing. “It is likely that the 2013 results will be better than the 2012,” Pangilinan said, adding that the outlook is encouraging given optimistic views on the Philippine economy. In the fourth quarter, profits were driven by strong water, power distribution, toll roads and hospitals businesses, MPIC chief finance officer David J. Nicol said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 For the entire year, consolidated net income rose to P6.4 billion from P5.1 billion a year ago. This reflects a P142-million non-recurring net loss. MPIC president and CEO Jose Ma. K. Lim said the increase in core net income was due mainly to higher profit contributions from Manila Electric Co. (Meralco), higher rates for Maynilad Water Services Inc., traffic growth at Metro Pacific Tollways Corp. (MPTC) and investments from the hospital group. In terms of contribution to MPIC’s net operating income, Maynilad Read More …
Feb 052013
SINGAPORE – Metro Pacific Tollways Corp. (MPTC), the largest toll road management firm in the Philippines, is settings its sights on Cebu and countries like Vietnam and Indonesia for expansion. The tollway management unit of Pangilinan-led Metro Pacific Investments Corp. (MPIC) will pursue almost 120 kilometers of toll roads in the two Southeast Asian countries as it conducts a study for a P26-billion toll bridge in Cebu, company officials said. In a briefing, MPTC executives outlined the company’s expansion plans specifically in emerging Vietnam and Indonesia that, like the Philippines, need more infrastructures to help sustain robust economic growth. MPTC president Ramoncito S. Fernandez said the company has identified the Becakayu toll road project in Indonesia as an investment opportunity. “The project is envisioned to connect Jakarta to the eastern part of Bbekasi City,” he said. It will be divided into two sections: the 10.167-kilometer Casablanca to Jaka Sampura and the 10.875-km Jaka Sampura to Marga segment. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 PT. Kresna Kusuma Dyandra Marga, which holds the 45-year concession of the expressway, earlier discussed the project with Citra Marga Nusaphala Persada (CMNP) but the latter found the entry at the high side. There are plans to discuss with industrial firm Bouygues Group “for a potential partnership to include CMNP,” MPTC said. In Vietnam, MPTC is looking at the six-lane, 98.7-km Dau Giay Phan Thiet Expressway project. Key bid parameter is the viability gap financing amount requested by the bidder,” MPTC said. The first Read More …
Feb 042013
SINGAPORE – The tollway management unit of Metro Pacific Investments Corp. (MPIC) is negotiating anew to take over the Subic-Clark-Tarlac Expressway (SCTEx). The latest proposal of Manila North Tollways Corp. (MNTC) will allow the government to earn from a clearer revenue sharing system, company officials said. “A third one (proposal) is in order because the government is not convinced that [the second] proposal is acceptable to them on terms that will not require a market challenge,” MPIC president and CEO Jose Ma. K. Lim said in a briefing. “We are still tweaking the proposal,” said Metro Pacific Tollways Corp. (MPTC) president Ramoncito S. Fernandez. In July 2011, the Bases Conversion Development Authority (BCDA) signed the SCTEx business and operating agreement with MNTC and holding firms MPTC and MPIC. Under the deal, MNTC will operate and manage the 94-kilometer SCTEx for 33 years while relieving SCTEx builder BCDA of the heavy financial burden of paying the P34-billion debt to the Japan International Cooperation Agency (JICA). Business ( Article MRec ), pagematch: 1, sectionmatch: 1 However, MPIC has yet to secure the final approval from President Aquino. The Department of Finance wants a rebidding of the contract given issues on the revenue sharing. Lim said the new proposal is based on a revenue sharing and a guarantee system. He said MNTC wants to “make it clearer to the government that in the course of taking over the debt service, we will be contributing a specified amount of equity that will be comparable Read More …
Feb 032013
SINGAPORE – Metro Pacific Tollways Corp. (MPTC), a subsidiary of infrastructure conglomerate Metro Pacific Investments Corp., expects a single digit growth in traffic volume for its toll roads this year, an official said. MPTC president Ramoncito S. Fernandez said in an interview that the toll road firm expects continuous traffic volume growth in its portfolio. “The election season results in mobility,” Fernandez said. For instance, a seven percent growth in the traffic volume is projected in the 94-kilometer Subic-Clark-Tarlac Expressway (SCTEx), four to five percent for the 84-kilometer North Luzon Expressway (NLEx), three percent for the 14-kilometer Manila-Cavite Expressway (CAVITEX), and as much as eight percent for the Kawit portion of CAVITEx, Fernandez said. MPTC reported that its core income, which strips out currency and derivatives-related items, grew three percent to P1.52 billion last year. Total revenues rose five percent to P6.88 billion “benefiting from higher growth in Class 2 and 3 vehicles or those of higher value,” Fernandez said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Class 2 vehicles like buses and Class 3 vehicles like cargo trucks and trailers are charged higher rates compared with Class 1 vehicles like jeepneys, pick-up vans and cars. CAVITEx and SCTEx have pending requests for rate hikes before the Toll Regulatory Board. Average daily traffic hit 163,400 vehicles last year, up four percent from 2011, MPTC said. Fernandez said the contract to maintain and operate the SCTEx is under renegotiation, with average traffic volume at 25,000, which is below the expected 30,000. Read More …