March 3, 2021 | 12:07 am Advertisement
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MR. PANGILINAN says Atimonan power plant project is a candidate for conversion into a gas facility. BW FILE PHOTO
MANILA ELECTRIC Co. (Meralco) should look at participating in the gas business, its chairman said, as a separate company that he leads is set to develop an offshore area for its resources.
“We hope that (Service Contract) 72 could get developed as an oil field and once we start developing, we have to connect to Malampaya because we need the facilities to process the raw gas, then pipe it to Batangas,” Meralco Chairman Manuel V. Pangilinan said in a press briefing on Monday.
February 2, 2021 | 12:04 am Font Size
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METRO PACIFIC Investments Corp. (MPIC) and its partner Singapore-listed Keppel Infrastructure Trust (KIT) have completed the acquisition of the Philippine Tank Storage International Holdings, Inc. (PTSI), which owns the largest petroleum products import storage facility in the Philippines, the former announced on Monday.
“Further to our disclosure filed on 9 December 2020, on 29 January 2021, MPIC and Keppel Infrastructure Fund Management Pte. Ltd., in its capacity as trustee-manager of KIT, completed the acquisition of 100% of the total issued capital stock of PTSI from Macquarie Infrastructure Holdings (Philippines) Pte. Limited, Government Service Insurance System and Langoer Investments Holding B.V.,” the listed investment holding company told the local bourse in a disclosure.
12.14.2020 - NEWS
December 13, 2020 [Hydrocarbon Engineering] – Keppel Infrastructure Fund Management Pte Ltd (KIFM), as the Trustee-Manager of Keppel Infrastructure Trust (KIT), is pleased to announce that KIT and Metro Pacific Investments Corp. (MPIC) have entered into a conditional sale and purchase agreement with Philippine Investment Alliance for Infrastructure (PINAI) to acquire 100% interest of Philippine Tank Storage International (Holdings) Inc. (PTSI) which owns Philippine Coastal Storage & Pipeline Corp. (PCSPC), a petroleum products import storage facility in the Philippines.
Upon completion of the proposed acquisition, it is intended that KIT will indirectly hold 80% of the shares in PTSI, and MPIC will indirectly hold 20% of the shares in PTSI. The purchase consideration payable by KIT will be in proportion to its respective shareholding in PTSI and is estimated to be US$267 million (approximately S$357.6 million
December 14, 2020 | 12:01 am Font Size
OUTLIER
METRO PACIFIC Investments Corp. (MPIC) was among the most active stocks last week as investors reacted following news of its acquisition of a petroleum products terminal and the suspension of its toll operations’ business permit.
Data from the Philippine Stock Exchange showed a total of 173.64 million MPIC shares worth P765.28 million were traded from Dec. 7-11, making it the twelfth most actively traded stock in the local bourse last week.
Shares in the Manuel V. Pangilinan-led company closed lower by 3.5% week-on-week to P4.39 apiece from its P4.55 finish on Dec. 4. The stock has gone up 30.7% since the start of the year.