Nickel Asia Expects 41% Growth in Shipment Value in 1H 2017

Taguig—(PHStocks)—Nickel Asia Corp.’s (PSE: NIKL) estimated value of shipments during the first half of 2017 rose by 41% to PhP7.16 billion from PhP5.08 billion during the same period last year. The increase is mainly due to higher prices for its nickel ore sales combined with higher shipment volumes and a weaker peso exchange rate.

The company sold an aggregate 8.92 million wet metric tons (WMT) of nickel ore from its four operating mines during the first half of 2017 compared to 8.54 million WMT achieved the previous year.

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SNAP Small Hydro on Track to Completion in 2017

Taguig—(PHStocks)—SN Aboitiz Power-Magat (SNAP-Magat) is set to complete its first greenfield project, an 8.5MW run-of-river hydro plant in Ramon, Isabela this year.

Speaking at the second Philippine Hydro Summit in Makati today, SNAP President and Chief Executive Officer Joseph S. Yu said that the plant is already 85% completed and will commence commercial operations in November.

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BDO Receives Gold Hall of Fame Award for Remittance Service

Makati—(PHStocks)—The Bangko Sentral ng Pilipinas (BSP) has honored BDO Unibank Inc. (PSE: BDO) with a “Gold Hall of Fame” accolade in yesterday’s BSP Stakeholders Awards.

The bank, which won its first Hall of Fame in 2010, was conferred the Gold Award after it was declared the “Top Commercial Bank that Generated the Largest Overseas Filipino Remittances” for 2016. BDO is the first local bank to receive the Gold Hall of Fame under this category.

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EEI President and CEO Receives Best CEO Award

Quezon City—(PHStocks)—EEI Corp. (PSE: EEI) President and CEO Roberto Jose L. Castillo was honored as one of Asia’s Best CEO (Investor Relations) during the Corporate Governance Asia Recognition Awards held last June 9, 2017 in Hong Kong.

EEI is part of the Yuchengco Group of Companies and is a member of the Good Governance Advocates and Practitioners of the Philippines (GGAPP), an organization committed to the promotion and furtherance of good governance principles and practices.

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Federal Land Brings in Nomura Real Estate and Isetan Mitsukoshi Holdings for Strategic Partnership

Makati—(PHStocks)—GT Capital Holdings Inc. (PSE: GTCAP) announced today that its wholly-owned property company Federal Land Inc. (Federal Land) will join forces with Isetan Mitsukoshi Holdings Ltd. (Isetan Mitsukoshi) and Nomura Real Estate Development Co. Ltd (Nomura Real Estate) to jointly finance and develop Sunshine Fort, a mixed-use retail-residential development at Bonifacio Global City (BGC) in Taguig.

“Today is a momentous occasion as we officially welcome Nomura Real Estate and Isetan Mitsukoshi to the GT Capital family. This initiative fits into our group’s business model of forging strategic partnerships with best-of-class global brands,” Federal Land Chairman Alfred V. Ty said. “We are glad that they are part of Federal Land’s commitment to invest in the country and add value to the lives of Filipinos. This joint venture is part of Federal Land’s commitment to bring global industry standards to the country.”

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AC Industrials Completes Acquisition of 94.9% Stake in MT Misslbeck

Makati—(PHStocks)—AC Industrial Technology Holdings Inc. (AC Industrials), a wholly-owned subsidiary of Ayala Corp. (PSE: AC), completed through AC Industrials (Singapore) Pte Ltd the acquisition of 94.9% of MT Misslbeck Technologies GmbH (MT) in a transaction valued at €26.8 million total enterprise value.

This investment forms part of AC Industrials’ strategy to increase its competence and capabilities in the automotive value chain and will complement AC Industrials’ existing businesses in manufacturing services and vehicle distribution and dealerships.

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MRC Allied Signs MOU with MEEC

Makati—(PHStocks)—MRC Allied Inc. (PSE: MRC) executed a Memorandum of Understanding (MOU) with Merge Energy and Environment Corp. (MEEC) to confirm that both parties have an interest in developing renewable energy projects in the properties identified by MEEC as target or locations.

MEEC is a domestic private corporation engaged in the business of exploration and development of renewable energy resources such as but not limited to biomass, geothermal, oil and gas.

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Phoenix Petroleum Board Approves Acquisition of PDB’s LPG Business in the Philippines

Davao—(PHStocks)—The Board of Directors of Phoenix Petroleum Philippines Inc. (PSE: PNX) has announced that on July 5, 2017 it has approved and authorized the execution of two agreements for the purchase of: (1) 100% shares owned by PDB Netherlands in Petronas Energy Philippines Inc. (PEPI); and, (2) 100% shares in Duta Inc., for a total purchase price of $126.1 million.

Duta is 40% owned by PDB Netherlands and the balance of 60% is owned by other shareholders, namely, Alsons Consolidated Resources Inc. (PSE: ACR) and Masaligan Inc.

The total purchase price of USD126.1 million pertains to the following:

  1. $120,050,000.00 representing 100% equity interest in PEPI
  2. $6,079,000.00 representing 100% equity interest in Duta

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