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ATN Holdings, Inc.
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ATN to supply 3.5M tons of rocks for Manila Bay reclamation projects

LISTED ATN Holdings, Inc. on Wednesday said it will sell 3.5 million tons of rock resource assets to several companies involved in Manila Bay reclamation activities.

In a disclosure to the stock exchange on Wednesday, ATN said its board of directors gave the green light to dispose of 3.5 million tons of its existing rock assets valued at P4 billion “to support 2019 land reclamation in Manila Bay.”

The company said it had received requests from Chinese, European and Korean reclamation groups for the first two-year supply of 3.5 million tons of armor rock.

ATN said the armor rock is being sourced from its property in Rodriguez, Rizal. Armor rock is a semi-processed product which comes from blasting rock deposits, and is priced near rock aggregate prices.

“The corporation is hereby authorized to execute a multi-year supply agreement with reclamation developers and contractors, under terms and conditions favorable to the corporation,” the company said.

ATN said two reclamation projects in Manila Bay will require some 68 million tons of armor rock.

“Land reclamation projects in Manila Bay (42 kilometers from ATN project site) require very large volumes of armor rock. Big-ticket reclamation projects include the 600-hectare project of SM Investments, and 400-hectare project in Baseco area of Manila,” the company said.


source: http://bworldonline.com/atn-to-supply-3-...-projects/
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8-13

...introducing...ATN Tongue

OUTLIER: ATN Holdings, Inc.

STRONG PROSPECTS of supplying rock requirements for the government’s Manila Bay reclamation projects made ATN Holdings, Inc. (ATN) one of the hottest stocks among traders last week.

ATN was the sixth most traded stock in terms of value turnover, totaling P1.029 billion from Aug. 6 to 10, based on data from the Philippine Stock Exchange (PSE).

Shares of ATN closed at P1.41 apiece on Friday, up 16.5% week on week. Year-to-date, its share price gained by a whopping 243.9%.

“It’s been up so much for the past two weeks. For now, it’s just speculation, we’re waiting for a reasonable news when ATN will actually deliver,” said Aristotle D. Reyes, Jr., equities trader at UPCC Securities Corp.

“People speculated that this will be a very good addition to the company given the Duterte administration’s main agenda is the Build, Build, Build program.”

“Since ATN has a quarry in Rizal, it will supply rocks for the government’s Build, Build, Build projects,” A&A Securities, Inc. analyst Jeng T. Calma said in agreement. “It’s a plus factor for ATN and will contribute to the company’s income.”

ATN said it will sell 3.5 million tons of armor rock roughly worth P4 billion for use in land reclamation projects in Manila Bay next year. The firm also noted that two reclamation projects in Manila — the 600-hectare project of SM Investments and the 400-hectare project in Baseco area of Manila — will require some 68 million tons of armor rock.

While it has not yet disclosed the buyer of the said rock inventory, UPCC Securities’ Mr. Reyes noted the likelihood of a purchasing agreement to be announced soon.

“[ATN] will not mine something if they don’t have a buyer,” he said.

For the fiscal year ended March 2018, ATN’s consolidated revenues ballooned 17 times to P465.86 million from P27.41 million a year earlier mostly due to a P445.87-million fair value gain on investment properties. It netted P308.28 million, 99 times its P3.10-million net profit from a year ago.

ATN is a holding company engaged in real estate, land development, energy, and health care services. Its subsidiaries include Advance Home Concept Development Corp., Palladian Land Development, Inc., ATN Philippines Solar Energy Group, Inc., and Managed Care Phil., Inc.


source: http://www.bworldonline.com/outlier-atn-holdings-inc/
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8-13

...tinamaan si ATN dahil dito sa news na ito

DENR suspends Rizal quarrying after call from Bong Go

Quarrying is temporarily halted after President Rodrigo Duterte's top aide relays a complaint from a Marikina City resident. But it has yet to be determined whether or not quarrying led to flooding.

MANILA, Philippines – A phone call from Special Assistant to the President Bong Go was all it took for the Department of Environment and Natural Resources (DENR) to order a halt to quarrying in San Mateo and Rodriguez in Rizal.

"Suspending" these quarrying operations was supposedly Environment Secretary Roy Cimatu's response to Go's phone call on Monday, August 13, about flooding in Marikina City and Rizal, according to a press release shared by both Go's staff and the DENR.

Environment Undersecretary Benny Antiporda ordered the Mines and Geosciences Bureau and Environmental Management Bureau to issue a "joint Stoppage Order on the quarrying and crushing of plants in San Mateo and Rodriguez, Rizal," according to the release.

Go, in a phone call, had asked Cimatu to look into how quarrying in Rizal contributed to the recent flooding in Marikina City and Rizal during heavy rain from the southwest monsoon enhanced by Tropical Storm Karding (Yagi).

He was following up on a complaint relayed to him by a Marikina resident when he dropped by the city on Sunday, August 12, to distribute assistance.

The DENR suspension order was issued even before the department could establish this connection between quarrying and the floods.

"The DENR will conduct an investigation on the possible role of quarrying in the flooding in Marikina," reads the press statement.

Go, in a Sunday interview with radio station DZRH, said, "Kanina po may residente ng Marikina na lumapit sa 'kin, may reklamo siya about quarrying. Sabi ko, ipatitingnan ko sa DENR kung ano ba itong sinasabi niya sa quarrying at ito ba ang naging dahilan sa pagbaha dito sa Marikina."

(Earlier, there was a resident of Marikina who approached me with a complaint about quarrying. I said, I will have the DENR look into it, what it has to say about quarrying being the reason for flooding in Marikina.)

Go has been highly visible ever since President Rodrigo Duterte expressed his support for Go to run for senator in 2019. The presidential aide, however, has denied he plans to run. (READ: Do Bong Go's donations, billboards violate government ethics code?)

As Duterte's most trusted aide, Go has unmatched access to the President, giving him a level of influence over other Cabinet members. 


source: https://www.rappler.com/nation/209463-de...ng-go-call
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