Aboitiz Equity Ventures Inc. (AEV) has consolidated its position as the market leader in the Philippine power generation sector, ahead of four industry rivals through its extensive portfolio of generation companies. The Cebu-based conglomerate, operating through its core energy unit Aboitiz Power...
Mitsubishi Power, a subsidiary of Tokyo-listed Mitsubishi Heavy Industries Ltd., has secured a long-term contract to maintain the 1,200-megawatt Ilijan combined-cycle power plant in Batangas. In a statement on Monday, June 22, Mitsubishi Power said the industrial tech giant signed a long-term parts...
The proposed merger between the tollway businesses of San Miguel Corp. (SMC) and Metro Pacific Investments Corp. (MPIC) is on track for completion in the third quarter of the year, with the plan currently in the valuation stage. MPIC Chairman Manuel V. Pangilinan confirmed that both companies are...
San Miguel Corp.’s tollway unit said its tree-clearing operations along a major Manila thoroughfare comply with government environmental mandates, seeking to defuse local opposition to a multi-billion peso infrastructure project aimed at easing the capital’s notorious gridlock. In a statement,...
The government rejected speculation that it is downscaling a major mass-transit infrastructure project, affirming that the Metro Rail Transit (MRT) Line 7 will proceed with its complete 14-station layout to connect Metro Manila with neighboring northern provinces. The Department of Transportation...
San Miguel Corp. clarified that its proposed ₱7.78 billion Boracay Bridge project has not been abandoned, saying the infrastructure giant will pursue further consultations to address mounting concerns from local stakeholders. The conglomerate issued the statement following social media reports...
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. has urged banks to continue strengthening governance, transparency, and internal controls, saying these safeguards become most critical during periods of economic and financial uncertainty. Speaking during the inaugural Corporate...
The Economy and Development (ED) Council has approved refinements to the implementation of San Miguel Corp. (SMC)-led Metro Rail Transit Line 7 (MRT-7) and adjustments to a maritime security project involving fast patrol crafts, as the government moves to accelerate infrastructure delivery and...
San Miguel Global Power Holdings Corp., the energy unit led by billionaire Ramon Ang, has deployed ₱4.5 billion from its latest bond proceeds to accelerate the rollout of renewable energy projects in country. In a regulatory filing with the Philippine Dealing System Holdings, the company said...
Bank of Commerce, the banking arm of conglomerate San Miguel Corp., reported record full-year earnings as surging interest income and disciplined approach to costs drove a third consecutive year of growth following its initial public offering. In a disclosure to the Philippine Stock Exchange on...
Petron Corp., the Philippines’ sole oil refiner, has procured 2.48 million barrels of Russian crude oil to shore up the country’s fuel stocks following the closure of the Strait of Hormuz and the declaration of a state of national energy emergency. In a disclosure to the Philippine Stock...
Billionaire Ramon S. Ang is reviving a proposal to sell Petron Corp. back to the government, framing the move as a way to bolster energy security while the nation grapples with a declared national energy emergency. The offer from the San Miguel Corp. chairman and chief executive officer comes as...
