Aboitiz Equity 4Q 2009 income up 227%March 4, 2010
Aboitiz Equity Ventures, Inc.’s (AEV) consolidated net income for the fourth quarter 2009 registered a 227% year-on-year (YOY) increase, from P745 million (mn) to P2.4 billion (bn). Out of the total earnings contributions from the business segments, power accounted for 60%. This was followed by the food, banking and transport groups pouring in 21%, 17% and 2% of the total, respectively.
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’).
Aboitiz Adopt-A-School project culminates in skillsfestMarch 4, 2010
The Livelihood and Skills Development Project under the Aboitiz Adopt-A-School Program will culminate in a Skillsfest this Saturday, March 6, 2010. The 10-month long project that began in June 2009 gave 3rd year Technology and Livelihood Education (TLE) students of Banilad Night High School the opportunity to experience the real TLE curriculum designed by the Department of Education.
AboitizPower takes over 2nd of 2 Mindanao power bargesMarch 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.
UnionBank in 3-Peat Win of PRSP Anvil Award of ExcellenceMarch 1, 2010
UnionBank received recognition with an Anvil Award of Excellence for its Annual Report 2008 during the 45th Anvil Awards of the Public Relations Society of the Philippines (PRSP) held at the Edsa Shangri-La Hotel. This annual award is known to be the “Oscars” of public relations. Dr. Cayetano Paderanga, a former socio-economic planning chief and a UP economics professor is the award’s chairman of the 32-member Board of Jurors.