ERC hints ‘pricing play’ The country’s giant power firms have been tagged as the culprits in last week’s rotational brownouts with “forced outages’ of their power plants going beyond the time allowance prescribed by the Energy Regulatory Commission (ERC). In a Congressional hearing on...
Aboitiz Equity Ventures Inc. has firmed up its plan to raise up to P10 billion through the issuance of bonds which have been given the highest triple-A rating by Philippine Rating Services Corporation (PhilRatings). PhilRatings said it has assigned an Issue Credit Rating of PRS Aaa, with a Stable...
Aboitiz Construction on Wednesday, (May 26) announced it has finished the design and construction of Berth no. 4 for Davao International Container Terminal (DICT) in Panabo City, Davao del Norte. Â Â The DICT is one of the most modern ports in the country and the project is an extension of...
Public company Aboitiz Power Corporation is expanding its investment in the solar farm development space with its greenfield 74-megawatt project in Bugallon, Pangasinan. The company disclosed that it already secured approval for the project and is moving into the development stage. The construction...
Japanese firm Mitsubishi Power (Philippines) Inc. has bagged a three-year contract for ‘reliability maintenance work’ aimed at improving the capacity availability at the 300-megawatt Therma South Inc. power plant of Aboitiz Power Corporation. The long term service agreement (LTSA), according to...
Aboitiz Equity Ventures, Inc. (AEV) reported that its Board of Directors has approved the extension of Sabin M. Aboitiz’s term as Group President and CEO by three years. In a disclosure to the Philippine Stock Exchange, the firm said Aboitiz’s retirement will be moved to December 31, 2027 from...
The Aboitiz Group venturing into the data science and artificial intelligence (DSAI) space with the launch of its new subsidiary Aboitiz Data Innovation or ADI. By design, ADI will consolidate the DSAI operating model across the Group and promote a data-driven culture across the organization. Its...
The stock market is seen to continue to be weighed down by the country’s COVID situation while investors will also be taking cues from the April inflation figure and corporate earnings announcements. “Next week, we still see a downward bias for the local market as we expect clouded economic...
The consolidated net income of Aboitiz Power Corporation had climbed by a very significant 200-percent in the first quarter to P6.2 billion from a relatively trimmed bottom line of P2.1 billion in the same period last year. The company said it logged non-recurring losses of P29 million within the...
Aboitiz Equity Ventures Inc. recorded a 276 percent surge in consolidated net income to P7.6 billion for the first quarter of 2021 from the P2.0 billion reported in the same period in 2020. In a disclosure to the Philippine Stock Exchange, the firm said it recognized non-recurring losses of P219...
San Miguel Corporation (SMC) and Aboitiz Equity Ventures (AEV) are raising a combined P40 billion from the issuance of fixed-rate bonds shelf-registered with the Securities and Exchange Commission. In a disclosure to the Philippine Stock Exchange, SMC said it has filed with the SEC a...
Listed firm Aboitiz Power Corporation has earmarked P23 billion capital expenditures (capex) this year that shall be funneled mainly to the completion of its 1,336-megawatt Dinginin coal-fired power facility and the concretization of pipelined battery energy storage system (BESS) projects. The...
