Aboitiz Equity to issue P2.5 bn six-year notesMay 17, 2010
Aboitiz Equity Ventures, Inc. (AEV) signed Friday (May 14) a Notes Facility Agreement for the issuance of six-year peso-denominated corporate fixed rate notes amounting to P2.5 billion (bn).
AboitizPower 1Q core income hits P7 bnMay 7, 2010
Aboitiz 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).
Aboitiz Equity 1Q income surge by 341% to P6.2 bnMay 7, 2010
Aboitiz Equity Ventures’ (AEV) consolidated net income for the first quarter surged 341% to P6.2 billion (bn) year-on-year (YoY), translating to an earnings per share of P1.13 for the period in review. Of the total earnings contributions from the business segments, power accounted for 90% while the banking and food groups contributed roughly the same at 6% each. The transport group turned in a negative contribution.
AboitizPower and Davao water district ink agreement for hydro projectMarch 26, 2010
AboitizPower, 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.
Aboitiz Equity to increase ownership in City Savings BankMarch 10, 2010
Aboitiz Equity Ventures, Inc. (AEV) plans to increase, directly and through a subsidiary, its ownership in Cebu-based thrift bank City Savings Bank (CSB) to 100% from the current 34%. The AEV Board approved the proposal for the planned purchase at its regular meeting on Wednesday (March 10). The additional acquisition is conditional upon regulatory approval for the transaction.