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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 »

Stock market falters after 6-day run-up

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PSE index as of October 09, 2013, 03:46:00 PM

The local stock market ended a six-day run-up on Wednesday as investors weighed the risks of a US debt default as a result of the political stalemate that has held up passage of the US federal budget alongside concerns about weaker global economic prospects cited by the International Monetary Fund.

Posted: October 9th, 2013 in Latest Business Stories,Stocks | Read More »

SMC pares down stake in Meralco, raises P17.4 B

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AFP FILE PHOTO

San Miguel Corp. has raised P17.4 billion from the sale of an initial 5.7 percent stake in the country’s largest power distributor, Manila Electric Co.

Posted: July 19th, 2013 in Latest Business Stories | Read More »

Power projects of SMC units get BOI incentives

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San Miguel Corp. has secured approvals from the Board of Investments for P51 billion worth of coal-fired power projects that are expected to significantly shore up power supply in Luzon and Mindanao in three years’ time.

Posted: June 17th, 2013 in Headlines | Read More »

Lucio Tan sells rest of PAL to SMC

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Lucio Tan. FILE PHOTO

Diversified conglomerate San Miguel Corp. has sealed a deal to acquire the entire holdings of tycoon Lucio Tan in flag carrier Philippine Airlines (PAL), the Inquirer learned on Friday.

Posted: June 8th, 2013 in Latest Business Stories | Read More »

SMC open to sale of Meralco stake

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Conglomerate San Miguel Corp. is open to selling its 36-percent stake in Manila Electric Co. at current market prices, company chief Ramon S. Ang said.

Posted: May 9th, 2013 in Headlines | Read More »

SMC raises $800M from sale of bonds

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San Miguel Corp. has raised $800 million from a 10-year overseas bond sale, setting a new record as the biggest US dollar-denominated corporate bond issue out of the Philippines.

Posted: April 20th, 2013 in Headlines | Read More »

SMC, Metro Pacific reach deal on road project

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The San Miguel and Metro Pacific groups have struck a compromise on the P7-billion, five-kilometer common alignment for their respective North Luzon-South Luzon Expressway connector road projects, according to Inquirer sources.

The San Miguel and Metro Pacific groups have struck a compromise on the P7-billion, five-kilometer common alignment for their respective North Luzon-South Luzon Expressway connector road projects, allowing their major infrastructure projects to move forward.

Posted: January 21st, 2013 in Editor's Pick,Headlines | Read More »

SMC, Citra plan infra joint venture

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san-miguel

CONGLOMERATE San Miguel Corp. and Jakarta-based Citra Group is building up a war chest worth $1 billion for infrastructure projects in the Philippines and Indonesia, with the aim of becoming Southeast Asia’s biggest toll road player.

Posted: November 24th, 2012 in Editor's Pick,Headlines | Read More »

PAL eyes stake in Cayman Islands airline

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FILE PHOTO

Flag carrier Philippine Airlines is in negotiations to acquire as much as a 50-percent equity in the national airline of the Cayman Islands in what could be the long-awaited solution to the downgraded aviation safety status that has hounded local carriers since 2008.

Posted: November 13th, 2012 in Editor's Pick,Headlines | Read More »

SMC lists P80-B preferred shares

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san-miguel

Diversifying conglomerate San Miguel Corp. listed on the Philippine Stock Exchange on Friday P80 billion worth of a new series preferred shares, the largest capital market foray in the country to date.

Posted: September 28th, 2012 in Latest Business Stories | Read More »

SMC sold 11.2% stake in Rockwell to Lopezes for P1.37B

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smc

San Miguel Corp. has signed a deal to sell an 11.2-percent stake in Rockwell Land Corp. to the Lopez family for P1.37 billion, allowing the latter to further consolidate their controlling ownership in the newly listed upscale property developer.

Posted: July 16th, 2012 in Latest Business Stories | Read More »

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