MARKET HEADLINE: SHORT SELLING BY OCTOBER

Metro Pacific Investments Corp.
8-3

...Air21? warehousing and logistics business naman  Tongue

MPIC unit completes deal for 12% stake in Air21

THE logistics unit of Metro Pacific Investments Corp. (MPIC) has completed its acquisition of a 12% stake in logistics services provider Air21, in line with its goal to become the leading player in the sector within the next two years.

Metropac Movers, Inc. (MMI) President and Chief Executive Officer Marilyn V. Aquino said it has sealed the deal for a minority share in Air21 last July, adding the company has the option to further raise its ownership to as high as 100% in the future.

“12% is an entry point to understand the business more… Until we know the complexity of the business and the major challenges, then we can raise it… We have been granted certain rights to increase our stake. There is no cap,” Ms. Aquino told reporters during a media briefing organized by its parent in Makati City yesterday.

The acquisition is part of the infrastructure conglomerate’s goal to ramp up its investments in the logistics sector, in a bid to keep up with the rising e-commerce industry and need for more warehousing spaces in the country.

“The focus of this business is to provide our FMCG (fast-moving consumer goods) clients with first class transportation, warehousing, and other order fulfillment as we broaden our service offering to include cross docking and cold chain services,” MPIC said in a statement.

Ms. Aquino said MMI is boosting its warehousing capacity in the next two years. The company is currently in discussions with partners to build a six-hectare warehouse in Davao.

“We have a partner that owns a 10-hectare warehouse in Davao. When this six-hectare facility is finalized and agreed upon then we could have a strong presence in Davao,” Ms. Aquino said.

MMI recently announced that it is investing P8 billion to expand its warehousing spaces. This includes the acquisition of 200,000 square meters of land in Cavite, which will be converted into 141,000 sq.m of covered warehouse space. The company will further purchase 300,000 sq.m of land in Bulacan.

MPIC President and Chief Executive Officer Jose Ma. K. Lim noted the logistics unit’s strategy is to build warehouses as demanded by its clients. It takes the company around six months to finish a facility.

In addition to warehousing, MMI will also invest in the construction of cold storage facilities.

“We’re going to be discussing partnerships with several existing cold storage facility firms… (it takes) around two years to build cold storage facilities (located) in the north and south,” Ms. Aquino said.

The company, which started commercial operations two years ago, expects to be profitable by 2019.


source: http://www.bworldonline.com/mpic-unit-co...-in-air21/
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8-3

...positive profit report for the 1st half of the year Smile nice

Metro Pacific core profit jumps 10% in 1st half

METRO PACIFIC Investments Corp. (MPIC) delivered a 10% growth in consolidated core profit during the first six months of 2018, fueled by the growth across its portfolio and increased investments in the power sector.

The infrastructure conglomerate said in a disclosure to the stock exchange on Thursday that consolidated core net income climbed to P8.6 billion from January to June, higher than the P7.8 billion it generated in the same period a year ago.

Systemwide revenues grew by nine percent to P200.3 billion, including revenues from power distribution unit Manila Electric Company (Meralco).

“This was basically driven by strong volume growth across the various operating units and the increased investment we have in the power sector… traffic has been strong in our domestic roads, we have contributions from overseas investments as well. And for Maynilad (Water Services, Inc.) we had both volume and tariff increases for inflation during the first half,” MPIC President and Chief Executive Officer Jose Ma. K. Lim said in a media briefing in Makati City on Thursday.

Meralco contributed 55% to MPIC’s net operating income, followed by toll roads at 21%, and water at 20%. The hospital group accounted for three percent, while the rail, logistics, and systems group accounted for one percent.

MPIC’s power business, through Meralco and Global Business Power Corp., increased its contribution to the parent by 10%. Meralco alone generated P150.5 billion in revenues, seven percent higher year-on-year on the back of higher energy sales and increased pass-through generation charges. Core net income accordingly grew by seven percent to P10.9 billion during the first half.

Global Power meanwhile increased its core profit by seven percent to P1.3 billion through its volume expansion.

Metro Pacific Tollways Corp. (MPTC) reported a 12% core profit increase to P2.1 billion. The toll roads operator benefited from the 57% increase in the number of systemwide vehicle entries to 924,364 on average per day, which was mainly due to the contribution of its recent investment in Indonesian firm PT Nusantara Infrastructure Tbk.

MPTC is the operator of the North Luzon Expressway, the Subic-Cavite-Tarlac Expressway, and the Cavite Expressway inside the Philippines. Overseas, it operates DMT in Bangkok, Thailand and CII B&R in Vietnam.

MPIC’s water business, which consists of Maynilad Water Services, Inc. and MetroPac Water Investments Corp., booked a P2.1 billion core profit for the period, with the former contributing bulk of the earnings. Volume of water sold in the west part of Metro Manila went up by three percent, mainly due to the higher temperatures experienced in the metro during summer time, leading to higher water usage.

Metro Pacific Hospital Holdings, Inc. saw a 12% increase in out-patient visits and 15% uptick in in-patient admissions, given its acquisition of Jesus Delgado Memorial Hospital in Quezon City and St. Elizabeth Hospital in General Santos City last year.

Meanwhile, its logistics firm MetroPac Movers, Inc. said it has yet to contribute to MPIC’s earnings during the period given that it is still pursuing several projects to expand its warehousing and distribution units.

MPIC spent P21.3 billion in capital expenditures during the first half of the year, excluding investments for acquisitions.

For the rest of 2018, MPIC continues to expect growth among its units. The company however noted the impact of the delay in tariff increases as well as right-of-way acquisition to its operations.

“Volume will remain strong. We need to work hard with the government to accelerate rights of way delivery so we can get construction started and funds deployed on our current tollways projects,” MPIC Chairman Manuel V. Pangilinan said in a statement.

“I remain optimistic that settlement will be reached at the end of the day. Uncertainty is felt by investors in our financial market and by counterparties unsure of such resolutions,” Mr. Pangilinan added.

MPIC is one of three key Philippine units of First Pacific, the others being Philex Mining Corp. and PLDT, Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls.


source: http://www.bworldonline.com/metro-pacifi...-1st-half/
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8-6

...nice!

MPIC eyes own hospital

MANILA, Philippines — Metro Pacific Investments Corp. (MPIC), the infrastructure conglomerate chaired by tycoon Manuel V. Pangilinan, is studying the viability of putting up its own hospital on top of acquiring existing ones. 

Metro Pacific Hospital Holdings Inc. (MPHHI) president and chief executive officer Augusto Palisoc Jr. said the company’s thrust is to acquire existing hospitals, but it is also studying putting up its own.

“We still continue to study a greenfield hospital project, but we will not embark on three or four at the same time. Probably we will start with one and make it work,” Palisoc told reporters in a recent briefing.

He said acquiring existing hospitals is more economically viable than starting from scratch which entails a lot of cash.

If MPHHI decides to put up its own hospital, it may be a specialty hospital instead of a general hospital, of which Palisoc said there are already too many.  

“If we do get it, we will do a specialty hospital as opposed to general hospital  which are dime a dozen now. We are also looking at hospital care ventures,” Palisoc said.  

The company has recently completed a greenfield clinic and would be opening another clinic in Muntinlupa and another one in the north.  

The other format the company is investing in is cancer centers.

“We already have a joint venture with Lipa Medics in Batangas… and in a month or two, we will be opening up another in in Central Luzon,” Palisoc said.

MPIC’s hospital business through MPHHI, the hospital arm, which reported a 15 percent rise in aggregate revenue in the first half, driven by a 12 percent increase in out-patient visits to 1,640,482 and a 15 percent growth in in-patient admissions to 91,295. 

Last week, the conglomerate reported a 10 percent increase in consolidated core net income in the first half to P8.6 billion from P7.8 billion a year ago.

Consolidated net income attributable to owners of the parent company rose by 14 percent to P8.9 billion during the period. 

By business segment, power accounted for P5.8 billion or 55 percent of net operating income; while toll roads contributed P2.3 billion or 21 percent. The water business contributed P2.1 billion or 20 percent and the hospitals group’s contribution was P338 million or three percent.

The rail, logistics and systems group delivered P60 million or the remaining one percent of net operating income. 

Moving forward, Pangilinan expressed hopes the strong performance of MPIC companies during the period  will continue, especially if tariff issues are resolved.

“That said, I remain optimistic that settlement will be reached at the end of the day. Uncertainty is felt by investors in our financial market and by counterparties unsure of such resolutions. In the meantime, we are doing our best to support the government’s Build Build Build program but tariff resolution will certainly help such program be financeable.”


source https://www.philstar.com/business/2018/0...n-hospital
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8-20

...septic tank, malulugi na si Malabanan nyan Big Grin

Maynilad spends P14B for wastewater projects

MAYNILAD WATER SERVICES, Inc. said it has spent nearly P14 billion to expand its sewerage coverage in its west zone concession area since it was re-privatized in 2007, allowing a wider reach despite hurdles.

“It is a challenge for us to facilitate the completion of wastewater projects, given the impact to traffic of laying new conveyance systems. Nonetheless, these projects are important so we can catch harmful effluents before discharge to the environment,” said Maynilad President and Chief Executive Officer Ramoncito S. Fernandez in a statement on Sunday.

“We need the support of local government and the communities to accelerate sewerage coverage expansion,” he added.

Maynilad’s investment went into building 15 new sewage treatment plants (STPs), a sewage and septage treatment plant, and a septage treatment plant. It was also used to rehabilitate existing wastewater facilities, acquire new vacuum trucks for septic tank cleaning, and install 27.5-kilometers of new sewer lines.

It now operates 17 STPs, two sewage and septage treatment plants, and one septage treatment plant with a combined treatment capacity of an estimated 542,000 cubic meters of wastewater daily.

For 2018, Maynilad has set aside almost P1.7 billion for wastewater projects to maintain the reliability of the wastewater network and sustain operations.

Antonio F. Garcia, Maynilad head of wasterwater management, said when the new management took over the west concession, sewerage coverage was only 6% while only two STPs were operating.

“We have since expanded coverage to 16% as of June 2018. Much still needs to be done, and we are doing our best to facilitate completion of our sewerage projects despite right-of-way conflicts, permit issuance delays, and lot acquisition issues.”

Maynilad, which aims to attain 100% sewerage coverage by the end of the concession period in 2037, is building additional STPs Pasay, Parañaque, Valenzuela, Cavite City, and Tunasan and Cupang in Muntinlupa. It will be able to increase sewerage coverage in the west zone to 26% once these projects are completed in 2020.

Areas that are not connected to Maynilad’s sewer network are being provided septic tank cleaning services.


source: http://www.bworldonline.com/maynilad-spe...-projects/
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Notice its getting stronger for the past 3 trading days. What's up?
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8-31

...good news na naman ito Smile

Metro Pacific’s Cavite toll roads adopt upgraded toll collection system

MPCALA Holdings Inc said it entered into a partnership with Egis Projects Philippines, Inc (EPPI) to operate an electronic toll collection system for the Cavite-Laguna Expressway and Manila-Cavite Expressway, which will allow transactions of 1,200 vehicles per hour.

“It’ s a first in the Philippines which is system capable to transact 1,200 vehicles per hour …without any barriers. It is a big jump from the RFID (radio frequency identification capacity) of 700 to 800 vehicles per hour at present. Our objective in using this new Toll Collection System is for our motorists to experience seamless, fast, and reliable cashless transactions, making them spend less time on the road and more time with their families,” MPCALA and CAVITEX president and chief executive officer Luigi L. Bautista said in a statement.

“With Egis, bringing this technology to the MPTC tollroad networks, we will expect a more efficient travel experience, and also boost tourism, trade and commerce in the areas being linked by our thoroughfares,” Mr. Bautista added, referring to Metro Pacific Tollways Corp.

CALAEX is a MPCALA concession, while CAVITEX is the concession of Metro Pacific Investments Corp. wholly-owned subsidiary Cavitex Infrastructure Corporation.

EPPI president and managing director Jean-Claude Neumann said that the toll collection system will be a “breakthrough” in the industry by making transactions free-flowing.

“One of the advanced features of this ETC (Electronic Toll Collection) system is the automatic license plate recognition solution technology which will help motorists experience uninterrupted and faster toll transactions. Through these unhampered transactions, we can lessen their travel time,” Mr. Neumann added.

According to MPTC, the system will be installed in phases as each section of CALAEX is completed and become operational, while upgrades will be conducted by CAVITEX to its existing system.

The new system will be designed to be compatible and interoperable with other toll roads’ ETC systems, MPTC said.

CAVITEX is currently being expanded by MPTC with the construction of a 7.7-kilometer C5 South-Link which will traverse Taguig, Las Piñas, and Parañaque.

CALAEX is a 45-km road between Mamplasan, Laguna connecting to CAVITEX in Kawit. The Laguna section is expected to be opened by December.


source: http://www.bworldonline.com/metro-pacifi...on-system/
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9-11

...overseas expansion news nila

Metro Pacific Tollways unit raises stake in Indonesian firm to 78%

A UNIT of Metro Pacific Tollways Corp. (MPTC) increased its stake in Indonesian infrastructure firm PT Nusantara Infrastructure Tbk, as the result of a mandatory tender offer.

In a disclosure to the stock exchange on Monday, parent company Metro Pacific Investments Corp. (MPIC) said PT Metro Pacific Tollways Indonesia (PT MPTI) now owns 77.94%, on a fully diluted basis, of the outstanding capital stock of PT Nusantara.

“As a result of the mandatory tender offer, a total of 3,760,231,769 PT Nusantara shares, which is equivalent to 24.68% on a fully diluted basis, were tendered at an approved price of IDR 211 per share,” MPIC said.

MPIC said the total cost stood at IDR 794.54 billion, which is equivalent to P2.86 billion.

In July, PT MPTI raised its stake in PT Nusantara to 53.26%, prompting the conduct of a mandatory tender offer. At that time, PT Nusantara’s minority shareholders collectively owned 44.21% of the firm, with the other 2.53% held as treasury shares.

PT Nusantara is involved in toll roads, water, energy, port operations and telecommunications. It operates a total of 34.47 kilometers in toll roads in Indonesia.

The partnership between MPTC and PT Nusantara comes as the former looks to expand its toll road business in Southeast Asia.

MPTC currently has a 29.45% stake in Don Muang Tollway Public Company Limited, a major toll road operator in Bangkok, Thailand, and 44.9% in CII Bridges and Roads, a firm with road and bridges projects in Ho Chi Minh City, Vietnam.

Domestically, the company operates the North Luzon Expressway, Subic Clark Tarlac Expressway, and Cavite Expressway. It also has three toll road concessions under construction, namely the Cavite Laguna Expressway, the Cebu-Cordova Link Expressway, and the NLEx-South Luzon Expressway Connector Road.


source: http://www.bworldonline.com/metro-pacifi...irm-to-78/
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10-8

...press release lang Smile

KRR eyeing MPIC as infra partner in PH

KKR & Co. Inc., a global investment firm, is interested to invest in infrastructure in the Philippines through a possible partnership with Metro Pacific Investments Corp., according to MPIC chairman Manuel Pangilinan. 

“They (KKR) are a private equity fund, they invest in quite a lot of companies around the world. Henry Kravis (KKR founder) was here last week, he was quite interested in what First Pacific is doing in the region, in Australia and Indonesia and, of course, here in the Philippines,” Pangilinan said. 

“We talked about that and I think they are interested, once this (KKR investment in Voyager Innovations Inc.) closes to take a look at other opportunities,” he added.

When asked if KKR was considering to invest in Metro Pacific, Pangilinan said “that’s what they suggested, but nothing definite. I don’t want to suggest that we have agreed.” 

Metro Pacific has interests in toll road, rail, power, water and electricity distribution and health care.

Last week, KKR and and China’s leading internet service provider Tencent Holdings Ltd. announced their investment in Voyager Innovations Inc. for $175 million.


source: http://manilastandard.net/business/corpo...in-ph.html
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