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Cost-recovery provisions for affected gencos urged

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AFP FILE PHOTO

Amid proposed additional price controls at the Wholesale Electricity Spot Market (WESM) by state regulators, SMC Global Power Holdings Corp. is pressing for cost-recovery provisions for generation companies (gencos) whose operations will be affected by the scheme.

Posted: April 24th, 2014 in Latest Business Stories | Read More »

San Miguel 2013 net profit jumps 42% to P38B

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Conglomerate San Miguel Corp. grew its 2013 net profit by 42 percent to P38.1 billion, boosted by extraordinary gains from the sale of a stake in Manila Electric Co.

Posted: March 28th, 2014 in Headlines | Read More »

SMC firms up $10B airport project

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San Miguel Corp. (SMC) is set to submit to President Aquino next month its own proposal for a $10-billion alternative international airport serving Metro Manila even as the government separately pursues a similar project, likely at a former US naval base in Sangley Point, Cavite.

Posted: March 26th, 2014 in Editor's Pick,Headlines | Read More »

Big groups keen on railway projects

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Large conglomerates had mixed reactions to new railway projects the government recently unveiled, including an ambitious P135-billion subway system for Metro Manila, as some were keen on bidding while others kept a more guarded approach given the recent track record for major public private partnership (PPP) deals.

Posted: March 22nd, 2014 in Editor's Pick,Headlines | Read More »

Ginebra play

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Shares of conglomerate San Miguel Corp., which have long lagged PSEi peers during the recent run-up, have rebounded by 26.8 percent in the last two trading days. So what’s brewing in SMC? Stock dealers cite a play ahead of the company’s March 27 investors’ briefing on its 2013 annual results. Some say prices are catching up with the company’s net asset value of more than P100 a share. There was likewise speculation in the market that hard liquor unit Ginebra San Miguel will soon be up for grabs, which market sources say would be logical given the strong investor appetite for branded consumer businesses.

Posted: March 19th, 2014 in Headlines | Read More »

Right of weigh

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In 2008, the cute administration of Gloriaetta awarded a little known BOT toll road project to a company called PIDC, or Private Infrastructure Development Corp., a joint venture between the San Miguel conglomerate and the construction giant DMCI.

Posted: February 24th, 2014 in Columnists,Editor's Pick,Inquirer Columns | Read More »

SMC readies $4-B cash pile for acquisitions

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San Miguel Corp. (SMC), the country’s biggest corporation, is preparing a cash pile of at least $4 billion that it plans to use to help fund more acquisitions in the future, especially in the field of energy.

Posted: February 2nd, 2014 in Headlines | Read More »

Skyway Stage 3 to cut Buendia-Balintawak travel to 15 minutes

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skyway_aquino-kristine

The launch of the first of two private sector-led elevated expressways linking northern and southern Metro Manila was held on Wednesday, marking the formal start of a major infrastructure project aimed at easing traffic jams in the metropolis.

Posted: January 22nd, 2014 in Latest Business Stories | Read More »

Biz Buzz: Flying in or out?

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One of the scions of “Kapitan” Lucio Tan has teamed up with partners to hatch a deal to take over the majority stake in flag carrier Philippine Airlines that the family intends to unload, according to the grapevine. There are two theories seen behind such a potential move: 1. The scion wants to keep and run the aviation business even as his old man wants out; 2. The scion is engineering a deal to trigger San Miguel group’s right of first refusal on the family’s remaining 51-percent stake in PAL. With regards to #2 scenario, rumored asking price is $1 billion.

Posted: January 15th, 2014 in Headlines | Read More »

SMC likely to post P57B profit in ’13

SMC president Ramon S. Ang: Confirmation.  AP FILE PHOTO

Conglomerate San Miguel Corp. may post a P57-billion net profit in 2013, double the level in the previous year, due to extraordinary gains from the sale of its interest in power distributor Manila Electric Co.

Posted: January 14th, 2014 in Headlines | Read More »

Liberty Telecoms’ capital restructuring approved

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The Securities and Exchange Commission has approved the restructuring of Liberty Telecoms Holdings Inc.’s capital, a stock exchange filing Monday showed.

Posted: December 23rd, 2013 in Headlines | Read More »

San Miguel eyes brewery in Asia’s ‘final frontier’

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Conglomerate San Miguel Corp. is renewing its interest to expand its flagship beer operations to Myanmar amid strengthening bilateral ties between the Philippines and what has been called the region’s “final frontier.”

Posted: December 8th, 2013 in Headlines | Read More »

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