MPIC Ups Stake in MERALCO and Global Power

Manila—(PHStocks)—Metro Pacific Investments Corp. (MPIC, PSE: MPI) and PLDT Communications and Energy Ventures (PCEV), a 99.9% subsidiary of Smart Communications Inc.—which is a wholly owned subsidiary of PLDT Inc. (PSE: TEL)—have entered into a Sale and Purchase Agreement for MPIC to acquire a further 25% interest in Beacon Electric Asset Holdings, which owns 35% of Manila […]
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MERALCO Taps GTCAP Unit for Interim Power

Pasig—(PHStocks)—Manila Electric Co. (MERALCO, PSE: MER), the Philippines’ largest distributor of electrical power, has signed power supply deals with two independent power producers (IPPs) in the Visayas to augment a foreseen capacity deficit in its portfolio, especially during the coming summer. In a filing with the Energy Regulatory Commission (ERC), Meralco said it signed separate […]
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Panay-Guimaras Consortium and Panay Energy Ink Power Purchase Contract

Makati–(PHStocks)–Members of the Panay-Guimaras Power Supply Consortium (PPSC) have signed a 25-year Electric Power Purchase Agreement (EPPA) with Panay Energy Development Corp. (PEDC), a wholly owned subsidiary of Global Business Power Corp. (GBP). GBP is the power generation unit of GT Capital Holdings Inc. (PSE: GTCAP). In response to the projected power demand in the […]
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Roxas Holdings, Global Power Ink MOA for Cogen Project

Makati—(PHStocks)—Roxas Holdings Inc. (PSE: ROX) and Global Business Power Corp. (GBPC), a leading power producer in the Visayas and the power generation component company of GT Capital Holdings Inc. (PSE: GTCAP), recently signed a memorandum of agreement to undertake a Front-End Engineering Design (FEED) study and other pre-development activities for a 40MW cogeneration facility in […]
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GT Capital 9M14 Net Income Reaches PhP6.3B

Makati—(PHStocks)—GT Capital Holdings Inc. (PSE: GTCAP) has posted January to September 2014 consolidated net income of PhP6.3 billion, down from PhP7.7 billion in the same period last year. The company’s consolidated revenues for the first nine months of this year grew 37% to PhP104.9 billion year-on-year (YOY). GT Capital’s revenue increase came mostly from higher vehicle […]
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MERALCO Consolidated Core Net Income for 9M2013 Up 5% to PhP13.6B

Manila—(PHStocks)—Manila Electric Co. (MERALCO, PSE: MER) has announced that its unaudited consolidated Core Net Income, which excludes one-time, exceptional charges, for the nine months ended 30 September 2013 amounted to PhP13.6 billion. Consolidated Reported Net Income also stood at PhP13.6 billion. The volume of energy sold during the first nine months of 2013 reflected a 5% growth despite a major weather disturbance […]
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