PLDT Inc. on Thursday, Dec. 22, said its core business remains strong despite its P48 billion budget overrun. "There was no fraud, no anomalies, no evidence of overpricing, and no unrecorded transactions in relation to the overrun," Chairman Manuel V. Pangilinan said in a disclosure to the...
PLDT Inc. on Wednesday, December 21, said it has "not unearthed fraudulent activities" in relation to the P48 billion capital expenditure overrun that the telco reported last week. The telco's "business and the outlook for the business continue to remain healthy". However, PLDT is "cooperating and...
With higher budget allocation, the Energy Regulatory Commission (ERC) indicated that it will pursue "digitalization" of its processes, so it can fast-track the approval of power supply agreements (PSAs) as well as the capital expenditure (capex) applications of power utilities. “We’ll pursue...
Globe Telecom Inc. fired up 26 new Long Term Evolution (LTE)-capable cell sites in Oriental Mindoro and Marinduque through stronger partnerships with local cooperatives, the telco disclosed Tuesday, December 6. Globe collaborated with the Oriental Mindoro Electric Cooperative Inc. (ORMECO) and the...
Consunji-led Semirara Mining and Power Corporation (SMPC) has hiked its capital expenditures (capex) to P5.6 billion for 2023, higher by 8.0-percent from P5.2 billion set for the year to support the modernization of its mining equipment and optimize electricity generation of its power plant assets....
Globe Telecom Inc.'s network rollout remained on track with 1,064 new cell towers built and P74.4 billion capital expenditure (capex) spent in the first nine months of 2022, the telco announced Monday, November 28. The bulk of the telco's capex, 84 percent, was allocated for data requirements to...
Transmission firm National Grid Corporation of the Philippines (NGCP) has entered into P20.02-billion worth of new contracts for the construction of transmission projects in the first semester of this year, according to a report submitted by its holding company Synergy Grid & Development Phils....
Garcia-led Vivant Corporation has earmarked capital spending of P30 billion for renewable energy (RE) and hybrid power facilities as well as infrastructure projects that it will be pursuing within the next three to five years. During the company’s annual stockholders’ meeting, Vivant Chief...
Listed firm Pilipinas Shell Petroleum Corporation will reposition project implementation and investments around its programmed P3 billion to P4 billion yearly capital expenditure (capex) rollout. Reynaldo P. Abilo, vice president for finance and chief risk officer of Pilipinas Shell, said “we are...
Transmission firm National Grid Corporation of the Philippines (NGCP) will be allotting mammoth capital expenditures (capex) of P160 billion to bankroll its programmed projects until year 2025, which are aligned with its 5th tariff regulatory reset filing with the Energy Regulatory Commission...
Listed firm Synergy Grid and Development Philippines Inc. (SGP) will be subscribing to P12.238 billion worth or equivalent 203,630,000 non-voting preferred shares of affiliate-firm National Grid Corporation of the Philippines (NGCP), the operator-company of the country’s power transmission...
Asian Terminals Inc. (ATI) allocated over P5 billion in capital expenditures this year to upgrade its major port gateways in Manila, Batangas and Laguna as well for acquisition of more modern and eco-friendly equipment, the company disclosed on Thursday, March 17. Part of ATI's investment will...
