ICT receives approval for a higher port tariff
ICT was successful in obtaining PPA approval for a 10% expansion in stevedoring and cargo handling at the Manila International Container Terminal (MICT). The 2 percent rise will take effect 30 days after the publication of the PPA’s notice, and the 8 percent increase will take effect six months after the first 2 percent increase.
AEV will redeem its notes ahead of time
AEV will completely repay its P8.467 billion Series B fixed-rate retail bonds issued in 2015 before they expire in 2022. On August 6, 2021, the redemption price is 100.5 percent of the face value. The note was part of the first tranche of AEV’s P25 billion debt securities strategy, and it had a fixed interest rate of 5.0056 percent.
Skyway Stage 3 tolls have been reduced
After a nearly 7-month payment moratorium, SMC will begin collecting reduced toll costs from its 18-kilometer Skyway Stage 3 on July 12. A new toll charge matrix will be published shortly. In Balintawak, the road connects SLEx and NLEx.
BRN bars planning expansion
BRN expects power generating, real estate, and water industries to assist development, particularly Vires Energy’s fully-owned combined-cycle floating LNG in Simlong, Batangas. Meanwhile, AB Bulk Water Co. is expanding to CDO’s Opol and Laguindingan. In terms of real estate, a master-planned community in Tanay, Rizal, as well as a golf and retirement estate in Bukidnon, are being considered.
The SEC has approved FLI REIT
SEC has approved the real estate investment trust (REIT) of 4,893 billion common shares of Cyberzone Properties, Inc. (CPI). The IPO is scheduled to be held between 19-28 July and its date is 06 August. At P8.30 a maximum price was fixed. The portfolio includes a total of 17 office buildings, 1 of which in Alabang are located, one in Cebu and a total of 299k sqm.
DMC-Marubeni turned over railway project
DMC and Marubeni Corp. handed over the Manila LRT2 East Ext. project to the Department of Transportation. The project included electrical and mechanical equipment for the 4-kilometer expanded railway line, which would cut travel time from Antipolo to Manila from 3 hours to 40 minutes.
Wenceslao camp increased their stake in DMW
The Wenceslao family consolidated its DMW shares under the family holding company, WHC, Inc., by selling 578.799 shares for P6.80 each in a block sale. WHC now owns 79.96 percent of DMW as a result of the deal (from 62.92 percent ). The transaction was undertaken for estate planning reasons, and it will not result in interest dilution or have an impact on DMW’s public float.
Cold mix asphalt is now available via a PNX subsidiary
Phoenix Asphalt Phils. (PAP) of PNX is marketing its do-it-yourself asphalt product to big construction companies, tollway operators, and distributors. Cold mix asphalt requires no heating and is ideal for small-scale projects.
CNVRG increases its data storage capacity
CNVRG is preparing to increase its metro backbone’s data transmission capacity, from 400 Gigabits per second to 800 Gigabits per second. The move is in anticipation of the company’s fiber optic network being used for next-generation hyperscale capacity applications.