In a time when publicly listed companies are announcing dismal performances due to the credit crunch, its surprising to find out that the Aboitiz group is issuing dividends to their stock holders. Aboitiz Equity Ventures (AEV) will pay out P0.27/share while its power generating subsidiary, Aboitiz Power Corp (AP), will give P0.20/share to investors who are listed share owners in the company by February 26, 2009. Payment will be made by March 23, 2009.
Read the rest of this entry »
The continuing saga of the Tamugan River row between Aboitiz’s Hedcor Inc and the Davao City Water District (DCWD) has the former calling a press conference to appeal to DCWD to pave the way for joint development of the area.
This river row sparked from Hedcor’s plans to setup a Hydro Electric Power plant in the area. DCWD blocked the plans by claiming prior approved rights over the river. The city mayor and city council tried to mediate but DCWD just wouldn’t budge saying that a hydro electric plant in the river would stem the flow of water to the area. Mayor Duterte has called for the courts to settle the dispute as mediation bogged down.
Read the rest of this entry »
Recently inducted Aboitiz Equity Ventures (AEV) President and CEO, Erramon Aboitiz, announced that they are going to issue retail bonds to raise between P2 - 3 billion so that they can continue purchasing energy assets of the Philippine government marked for privatization and so as to increase further their liquidity.
Aboitiz said: “We have enough internal funds for our capital expenditure requirements for this year. We’re just building our liquidity requirements for acquisition of more power assets and our greenfield projects”
Read the rest of this entry »
How often do you see an Energy company that has a subsidiary whose main purpose is to save energy? Well its kinda like shooting yourself in the foot, but I have to commend the Aboitiz Group for having that kind of business.
Aboitiz Energy Solutions recently announced that they have tied up with an American firm, Davies Energy Systems Inc, to provide energy-efficient solutions to private companies and local government units.
Read the rest of this entry »
Aboitiz Power informed the Philippine Stock Exchange that they are in the process of obtaining P3.9B worth of funds for their acquisition projects.
Aboitiz Power signed a notes facility agreement with a number of institutions (BDO Capital & Investment Corp., BPI Capital Corp., First Metro Investment Corp., ING Bank N.V. Manila) to act as joint lead managers. The notes will carry a term of five and seven years and will be issued to not more than 19 institutional investors.
Read the rest of this entry »
Energy Development Corp’s(EDC) stock was a projected as a good buy by Accord Capital Equities Corp as long as demand for renewable and alternative energy sources increases.
I think however the article needs to be reworked because it reeked of a press release for EDC.
Read the rest of this entry »
