NEIL JEROME C. MORALES
BusinessWorld
METRO PACIFIC Investments Corp. (MPIC) plans to disburse the entire P8.64-billion proceeds from its recent share sale within the year, with spending eyed not just for toll roads in the company’s pipeline but also “new businesses not necessarily disclosed.”
On Friday, MPIC sold 2.4 billion shares to Metro Pacific Holdings and some “qualified buyers” at P3.60 apiece, 5% lower than the P3.79 closing price on Thursday.
The share sale had increased the total number of outstanding shares by roughly 5% and thus had caused Metro Pacific Holdings’ interest to drop to 56.54% of MPIC instead of 59.63%. Shareholdings of the public, inclusive of the investors to the offer, meanwhile increased by 3.1%.
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Showing posts with label MPI. Show all posts
Showing posts with label MPI. Show all posts
Tuesday, July 12, 2011
Saturday, July 9, 2011
MPIC sells shares to fund tollway ventures
BusinessWorld
METRO PACIFIC Investments Corp. (MPIC) has raised P8.64 billion through a private placement for its toll road projects, the firm said in a disclosure on Friday.
The transaction involved 2.4 billion shares which were sold at P3.60 apiece, 5% lower than the P3.79 closing price on Thursday. The firm saw its shares end Friday at P3.60 per.
"This undertaking prepares us for the planned expansion of our toll roads business that will bring us closer to realizing our vision of connecting the North Expressway to the South into one seamless highway," Jose Ma. K. Lim, president and CEO, said in the disclosure.
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METRO PACIFIC Investments Corp. (MPIC) has raised P8.64 billion through a private placement for its toll road projects, the firm said in a disclosure on Friday.
The transaction involved 2.4 billion shares which were sold at P3.60 apiece, 5% lower than the P3.79 closing price on Thursday. The firm saw its shares end Friday at P3.60 per.
"This undertaking prepares us for the planned expansion of our toll roads business that will bring us closer to realizing our vision of connecting the North Expressway to the South into one seamless highway," Jose Ma. K. Lim, president and CEO, said in the disclosure.
Read here
Wednesday, June 8, 2011
MetroPac firms up plans for Cebu expressway, Clark airport
NEIL JEROME C. MORALES
BusinessWorld
METRO PACIFIC Investments Corp. (MPIC) is firming up plans to build a toll road in Cebu and operate an airport in Clark with the projects’ feasibility studies expected to be completed by the second half of the year, officials said.
“Hopefully before the year ends, we can come up with the [results of a Cebu toll road] study,” Ramoncito S. Fernandez, president of MPIC unit Metro Pacific Tollways Corp., told BusinessWorld in a chance interview.
Metro Pacific Tollways has also reported plans to spend P25 billion for three big-ticket projects in the next four years. Segment 9 -- the four-lane, 2.42-kilometer (km.) stretch -- is eyed to connect NLEx to MacArthur Highway in Valenzuela City while the two-lane, 5.65-km.
Segment 10 is planned to run through MacArthur Highway to Radial Road R-10. These come on top of the 13.2-km. connector road that will link NLEx at C-3 Road to Skyway 1 along South Luzon Expressway in Makati.
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BusinessWorld
METRO PACIFIC Investments Corp. (MPIC) is firming up plans to build a toll road in Cebu and operate an airport in Clark with the projects’ feasibility studies expected to be completed by the second half of the year, officials said.
“Hopefully before the year ends, we can come up with the [results of a Cebu toll road] study,” Ramoncito S. Fernandez, president of MPIC unit Metro Pacific Tollways Corp., told BusinessWorld in a chance interview.
Metro Pacific Tollways has also reported plans to spend P25 billion for three big-ticket projects in the next four years. Segment 9 -- the four-lane, 2.42-kilometer (km.) stretch -- is eyed to connect NLEx to MacArthur Highway in Valenzuela City while the two-lane, 5.65-km.
Segment 10 is planned to run through MacArthur Highway to Radial Road R-10. These come on top of the 13.2-km. connector road that will link NLEx at C-3 Road to Skyway 1 along South Luzon Expressway in Makati.
Read here
Thursday, June 2, 2011
Metro Pacific to raise capital stock to P30B
CMA/VS, GMA News
Metro Pacific Investments Corp. (MPIC), the local unit of Hong Kong-based First Pacific Co. Ltd., has received the nod from the Securities and Exchange Commission to raise its authorized capital stock.
In a disclosure to the Philippine Stock Exchange on Thursday, MPIC said its authorized capital stock will be raised to P30.05 billion from P24.24 billion.
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Metro Pacific Investments Corp. (MPIC), the local unit of Hong Kong-based First Pacific Co. Ltd., has received the nod from the Securities and Exchange Commission to raise its authorized capital stock.
In a disclosure to the Philippine Stock Exchange on Thursday, MPIC said its authorized capital stock will be raised to P30.05 billion from P24.24 billion.
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Tuesday, May 31, 2011
MPIC, SMC seeking foreign partners with track record in train operations
Paolo G. Montecillo
Philippine Daily Inquirer
Two major potential bidders for the joint Light Rail Transit (LRT) and Metro Rail Transit (MRT) operations contract are currently searching for foreign partners that can give them the technical expertise to operate the commuter train lines.
San Miguel Corp. president and chief operating officer Ramon S. Ang on Monday said the company was in talks with several foreign groups that would enable the conglomerate to take on the project.
Optimal Infrastructure Inc., a unit of SMC, was among the 16 companies that have so far bought bid documents for the five-year P14-billion project from the Department of Transportation and Communications.
The government has said that no local bidder was qualified to take on the project, given the need for a background in operating trains, as stipulated in the terms of reference.
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Philippine Daily Inquirer
Two major potential bidders for the joint Light Rail Transit (LRT) and Metro Rail Transit (MRT) operations contract are currently searching for foreign partners that can give them the technical expertise to operate the commuter train lines.
San Miguel Corp. president and chief operating officer Ramon S. Ang on Monday said the company was in talks with several foreign groups that would enable the conglomerate to take on the project.
Optimal Infrastructure Inc., a unit of SMC, was among the 16 companies that have so far bought bid documents for the five-year P14-billion project from the Department of Transportation and Communications.
The government has said that no local bidder was qualified to take on the project, given the need for a background in operating trains, as stipulated in the terms of reference.
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Meralco to put up 300-MW coal-fired power plant
Amy R. Remo
Inquirer.net
Manila Electric Co., the country’s biggest power distributor, said it planned to put up a 300-megawatt coal-fired power plant in an area north of Manila.
This is the second project being eyed for the $2.3-billion, 1,500-megawatt power generation portfolio that Meralco is planning to build. The first, which was announced earlier, is the 150-MW Liquefied Natural Gas (LNG)-fired plant in Laguna.
Meralco will likely start the construction of the coal-fired power generation plant this year. It is targeted for completion in 2014.
In a briefing following the company’s stockholders’ meeting on Tuesday, Meralco chief operating officer Oscar Reyes said Meralco might be spending about $2 million to produce a megawatt of power from this coal facility. This means the project may cost at least $600 million (roughly P27 billion).
Read here
Inquirer.net
Manila Electric Co., the country’s biggest power distributor, said it planned to put up a 300-megawatt coal-fired power plant in an area north of Manila.
This is the second project being eyed for the $2.3-billion, 1,500-megawatt power generation portfolio that Meralco is planning to build. The first, which was announced earlier, is the 150-MW Liquefied Natural Gas (LNG)-fired plant in Laguna.
Meralco will likely start the construction of the coal-fired power generation plant this year. It is targeted for completion in 2014.
In a briefing following the company’s stockholders’ meeting on Tuesday, Meralco chief operating officer Oscar Reyes said Meralco might be spending about $2 million to produce a megawatt of power from this coal facility. This means the project may cost at least $600 million (roughly P27 billion).
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Monday, May 23, 2011
MPI: BCDA says no notice of termination of SCTEx Contract
By Coco Alcuaz, ANC
MANILA, Philippines - The Bases Conversion and Development Authority (BCDA) denied it is terminating Manila North Tollways Corp.’s (MNTC) contract to operate the Subic-Clark-Tarlac Expressway (SCTEx). He confirmed terms are being reviewed but said this does not violate the sanctity of contracts.
BCDA President Arnel Casanova was reacting to news reports that quoted Manuel Pangilinan, chairman of MNTC owner Metro Pacific Investments Corp., as saying that BCDA informed the tollroad operator by letter that its 25-year contract would be terminated. Metro Pacific said it is drafting a statement it may release as early as tonight.
Read here
MANILA, Philippines - The Bases Conversion and Development Authority (BCDA) denied it is terminating Manila North Tollways Corp.’s (MNTC) contract to operate the Subic-Clark-Tarlac Expressway (SCTEx). He confirmed terms are being reviewed but said this does not violate the sanctity of contracts.
BCDA President Arnel Casanova was reacting to news reports that quoted Manuel Pangilinan, chairman of MNTC owner Metro Pacific Investments Corp., as saying that BCDA informed the tollroad operator by letter that its 25-year contract would be terminated. Metro Pacific said it is drafting a statement it may release as early as tonight.
Read here
Monday, May 2, 2011
Maynilad spent P2B in Q1 to boost service - Philippine Daily Inquirer
By Riza T. Olchondra
MANILA, Philippines—Maynilad Water Services Inc. (Maynilad) has spent almost P2 billion in the first quarter to improve service levels in its concession area, the company said Monday.
As a result, the number of Maynilad customers who have 24-hour water supply now stands at 79 percent from 32 percent in 2007.
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