Essay writing contest
June 10, 2010ENERGY stakeholders are holding an essay-writing contest among college and post-graduate degree students in Cebu City in their bid to tap the youth to contribute to solving the energy problem in the country.
Awards
May 31, 2010Aboitiz Equity Ventures, Inc. (AEV) and all its three publicly listed subsidiaries, Aboitiz Power Corp. (AboitizPower), Aboitiz Transport System Corp. (ATS) and Union Bank of the Philippines (UnionBank), all landed in the top 30 out of 214 companies ranked by the Institute of Corporate Directors (ICD) for its 2009 Corporate Governance Scorecard for listed companies.
All 4 listed Aboitiz Companies Cited in Corporate Governance Awards
May 24, 2010Aboitiz Equity Ventures, Inc. (AEV) and its three publicly listed subsidiaries, Aboitiz Power Corp. (AboitizPower), Aboitiz Transport System Corp. (ATS) and Union Bank of the Philippines (UnionBank), all landed in the top 30 out of 214 companies rated by the Institute of Corporate Directors (ICD) in 2009.
AboitizPower 1Q core income hits P7 bn
May 7, 2010Aboitiz Power Corporation (AboitizPower) ended the first quarter of 2010 with a total net income of P7.4 billion (bn), up by 1851% versus the same period last year. This translates to an earnings per share of P1.01 for the period in review. The stronger peso resulted to a P404 million (mn) non-recurring gain (versus a P109 mn non-recurring loss in 2009) due to the revaluation of dollar-denominated loans and placements on a consolidated basis. This brings AboitizPower’s core net income for the quarter to P7.0 bn, 1334% higher year-on-year (YoY).
AboitizPower and Davao water district ink agreement for hydro project
March 26, 2010AboitizPower, through wholly owned subsidiary Hedcor, Inc., on Thursday (March 25, 2010) signed a Compromise Agreement (CA) with the Davao City Water District (DCWD), thereby paving the way for the eventual construction of a 10 to 15 MW hydroelectric power plant along the Tamugan River.
AboitizPower 4Q 2009 net income up 60%
March 4, 2010 AboitizPower Corporation (AboitizPower) recorded a total net income of P1.9 billion (bn) for the quarter ending December 31, 2009, a 60% expansion versus the same period last year. The stronger peso resulted to a P483 million (mn) non-recurring gain due to the revaluation of dollar- denominated loans and placements on a consolidated basis. This, coupled with a P103 mn reversal of National Power Corporation (NPC) charges for ancillary services and one-off transaction costs of P47 mn for the Pagbilao Independent Power Producer (IPP) Administrator contract, resulted to total non-recurring income of P539 mn for the quarter. This brings AboitizPower’s core net income for the fourth quarter of 2009 to P1.3 bn, 9% higher year-on- year (‘YOY’).
AboitizPower takes over 2nd of 2 Mindanao power barges
March 1, 2010
AboitizPower, through wholly owned subsidiary Therma Marine, Inc., (TMI) on Monday (March 1, 2010) assumed ownership of PB 117, a 100-MW power barge moored at Nasipit, Agusan del Norte, Mindanao. The bunker-fired generating facility is one of two power barges acquired by AboitizPower after it won a negotiated bid conducted by the Power Sector Assets and Liabilities Management Corporation on July 31, 2009. The total purchase price for both facilities is USD 30 million. PB 118, it will be recalled, also with a generating capacity of 100 MW, was turned over to AboitizPower on February 6, 2010.
AboitizPower takes over 1st of 2 Mindanao power barges
February 8, 2010AboitizPower, through wholly owned subsidiary Therma Marine, Inc., (TMI) on Saturday (February 6, 2010) assumed ownership of PB 118, a 100-MW power barge moored at Bgy. San Roque, Maco, in Compostella Valley, Mindanao. The bunker-fired generating facility is one of two power barges acquired by AboitizPower after it won a negotiated bid conducted by the Power Sector Assets and Liabilities Management Corporation on July 31, 2009. The total purchase price for both facilities is USD 30 million. PB 117, also with a generating capacity of 100 MW, is moored at Nasipit, Agusan del Norte and scheduled for turnover on March 1, 2010.
AboitizPower signs Cleanergy supply deal with SFELAPCO
November 11, 2009AboitizPower will supply renewable energy to San Fernando Electric Light and Power Company (SFELAPCO) for three years starting Dec. 26, 2009. Cleanergy, the AboitizPower brand of clean and renewable energy, will be sourced from AboitizPower's Tiwi-Makban geothermal facilities, as well as from its Hedcor-Irisan hydroelectric plant in Benguet.
AboitizPower, SM partner for kids environmental drawing contest
November 6, 2009AboitizPower, through Hedcor, Inc., and SM City Davao will hold the Davao leg of the Kids Environmental Drawing Contest on November 16 at the mall’s Event Centre. The contest is open to grade school children of Hedcor’s host communities in Sta. Cruz, Davao del Sur, and in Benguet Province.
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