Marubeni buys into Maynilad
By Doris C. Dumlao
The Japanese trading giant Marubeni has finalized a deal to buy a 20 percent stake in Maynilad Water Services Inc., coming in as a strategic partner of the Metro Pacific-DMCI consortium.
The Japanese trading giant Marubeni has finalized a deal to buy a 20 percent stake in Maynilad Water Services Inc., coming in as a strategic partner of the Metro Pacific-DMCI consortium.
The government gave out P3.1 billion in subsidies to state-owned and -controlled corporations in September, a big part of which was allocated to those engaged in projects related to utilities, housing, irrigation and rice.
Manila Water Co. Inc. disclosed Wednesday that its net income for the first half of the year jumped by nearly a third over the same period last year as revenue grew by almost a fourth.
Japanese trading giant Marubeni is expected to finalize by September a deal to buy a 20 percent stake in water concessionaire Maynilad Water Services Inc. for about $400 million.
MANILA, Philippines—Customers of Manila Electric Co., the country’s biggest power distributor, should expect higher electricity bills in October, as the generation charge rose by an average of 14.19 centavos per kilowatt-hour (kWh), the company said Friday. This means that households consuming 100 kWh a month can expect an increase of P14.19 in their electricity bills, [...]
Customers of Manila Electric Co., the country’s biggest power distributor, may expect lower electricity bills this month as the generation charge fell by 16.70 centavos per kilowatt-hour to P5.2051 per kWh.
Corporate Philippines grew average core earnings by about 7.1 percent in the first semester compared with a year ago, with mining, utilities and property outperforming other sectors, a new research by investment house CLSA said. In an assessment made by the CLSA research team led by analyst Alfred Dy as the recent reporting season of [...]
Ayala Corp. grew its six-month net profit by 12 percent to P4.9 billion from a year ago on higher earnings from its core property, banking, water and telecom businesses.
Business executive Manuel V. Pangilinan said blocking foreigners from participating in certain local industries such as telecommunications and other public utilities would greatly stunt the country’s development, eventually leading to “economic death.”
Lucio Tan-led airline services company MacroAsia Corp. is venturing into the utilities business, starting with the development of a water treatment facility to supply areas in the Province of Cavite. The company Tuesday said it would spend P2.5 billion on a bulk water treatment plant to process as much as 150 million liters of water [...]
Customers of the Manila Electric Co., the country’s biggest power distributor, can expect their power bills to go down this month as the generation charge fell by 24 centavos to P5.298 per kilowatt-hour.
All power generation and transmission companies, as well as local distribution utilities, will have to go public, after the Energy Regulatory Commission issued the final rules enforcing this policy. In a resolution, the ERC said unlisted generation companies and utilities would be forced to offer and sell to the public at least 15 percent of [...]
