Aboitiz Group pledges additional vaccine donations
The Aboitiz Group has pledged additional doses of vaccine donations to the government as part of Wave 2 of ‘A Dose of Hope’, a tripartite initiative among the private sector, the government, and British drugmaker AstraZeneca, in support of the National Immunization Program. The company joined more than 300 private companies and nearly 40 local […] The post Aboitiz Group pledges additional vaccine donations appeared first on Daily Tribune......»»
Aboitiz Group raises 2024 capex
The Aboitiz Group is poised to expand its various business units this year, supported by a substantial increase in capital expenditures......»»
AboitizPower hikes stake in STEAG
Aboitiz Power Corp. has acquired an additional 15.6 percent stake in STEAG State Power Inc., boosting its equity to a majority of 85 percent......»»
AboitizPower buys back shares amid PSE slump
Aboitiz Power Corp., or AboitizPower, purchased 11.407 million of its shares as part of its buy-back program as of the 19 September closing. The company said the move was needed to “create further shareholder value” as its current share price range fails to reflect the value of the company. As the shares are undervalued due to the poor state of the market, the buyback is expected to inspire investors to look at the real value of the shares. “Even with this stock buy-back program, there is no intention to delist from the PSE, but merely to reward our existing shareholders with a larger share of a brighter future,” the company said. The Philippine Stock Exchange or PSE, however, announced AboitizPower, the listed investment arm of the Aboitiz Group for energy-related ventures, will be dropped from the index of bellwether shares by next week. In a memorandum dated 20 September, PSE president Ramon Monzon confirmed AboitizPower’s removal from the index will be effective starting 26 September. This developed even after AboitizPower committed not to exit the index amid speculations that the company may opt to delist after its public float fell below the required threshold. Based on the new rules governing the PSE, all companies in the local bourse indices are required to maintain a minimum public float level of 20 percent. AboitizPower chief executive officer Emmanuel Rubio also conveyed that the company, which accounts for one out of every five megawatts or MW of installed capacity in the Philippines, is still in a strong position to create long-term shareholder value. “With a pipeline of about 1,000 MW of new renewable energy capacity, we are well on our way to contributing an additional 3,700 MW of clean electricity,” Rubio said. During the first half of the year, the company reported that it logged a P17.8-billion net income, 79 percent higher than the P10 billion recorded in the same period a year ago. During the second quarter alone, the company’s net income reached P10.3 billion, 46 percent higher than last year’s P7 billion. AboitizPower’s generation and retail supply businesses recorded earnings before interest, taxes, depreciation, and amortization or EBITDA of P30.2 billion during the first six months. The EBITDA, used to measure a company’s financial health and ability to generate cash, was 31 percent higher than the P23.1 billion recorded in the same period last year due to “fresh contributions” from GNPower Dinginin. From the start of the year until the end of June, AboitizPower said its capacity sold increased by 25 percent to 4,718 MW from 3,785 MW a year ago. The post AboitizPower buys back shares amid PSE slump appeared first on Daily Tribune......»»
Aboitiz rolling out largest solar project
To further expand its local footprint, Aboitiz Power Corp. will build two new solar facilities in Zambales and Negros Occidental this year, one of which will be the company’s largest solar venture to date. AboitizPower president and CEO Emmanuel Rubio confirmed through a press statement on Tuesday that the projects, scheduled to start next month, will provide the company with an additional 3,700 megawatts or MW of renewable energy by 2030. AboitizPower, through its Aboitiz Renewables Inc. or ARI, will begin building the 211 megawatts or MW solar power project in Olongapo, Zambales in September. Operation starts September The project is scheduled to be commercially operational by September 2025 to provide electricity through the Castillejos substation. On the other hand, the 173 MW solar power project in Calatrava, Negros Occidental, to start also in September, is planned to export electricity to the grid via the Calatrava substation as soon as December 2024. It will be undertaken by SUMEC Complete Equipment and Engineering Co. Ltd., the same company currently completing the 159 MW Laoag Solar Project of PV Sinag Inc. With these new projects in the pipeline, AboitizPower will have five solar projects in total, which also includes San Carlos Sun Power Inc. in Negros Occidental and the Laoag and Cayanga solar projects in Pangasinan. AboitizPower, the holding company of the Aboitiz Group for its energy-related investments, has a pipeline of close to 1,000 MW of disclosed renewable energy projects. It aims to have a total of 4,600 MW of clean energy and a 50:50 balance between its renewable and thermal capacities. The post Aboitiz rolling out largest solar project appeared first on Daily Tribune......»»
Aboitiz takes on largest solar project
To further expand its local footprint, Aboitiz Power Corp. will build two new solar facilities in Zambales and Negros Occidental this year, one of which will be its largest solar venture to date. AboitizPower President and CEO Emmanuel Rubio confirmed through a press statement on Tuesday that the projects, scheduled to start next month, will provide the company with an additional 3,700 megawatts or MW of renewable energy by 2030. AboitizPower, through its Aboitiz Renewables Inc. or ARI, will begin building the 211 MW solar power project in Olongapo, Zambales this September — its largest solar project to date. The project is scheduled to be commercially operational by September 2025 to provide electricity through the Castillejos substation. On the other hand, the 173 MW solar power project in Calatrava, Negros Occidental, to start also in September, is planned to export electricity to the grid via the Calatrava substation as soon as December 2024. The Negros project will be undertaken by SUMEC Complete Equipment and Engineering Co., Ltd., the same company currently completing the 159 MW Laoag Solar Project of PV Sinag, Inc. With these new projects in the pipeline, AboitizPower will have five solar projects in total, which also includes San Carlos Sun Power Inc. in Negros Occidental and the Laoag and Cayanga solar projects in Pangasinan. AboitizPower, the holding company of the Aboitiz Group for its energy-related investments, has a pipeline of close to 1,000 MW of disclosed renewable energy projects. It aims to have a total of 4,600 MW of clean energy and a 50:50 balance between its renewable and thermal capacities. The post Aboitiz takes on largest solar project appeared first on Daily Tribune......»»
NMP Cebu seen luring in tourists
The newly-inaugurated National Museum of the Philippines in Cebu City is expected to draw additional tourists and tourism development to the province and to the Visayas region, as well as open the doors to a temple of history and culture, said Tourism Secretary Christina Garcia Frasco. “With the newly-inaugurated National Museum of the Philippines in Cebu, the cradle of Christianity in the Philippines, we open the doors to a temple of history and culture, inviting tourists — local and international alike to witness the archaeological and natural wonders and rich culture and artistry of this side of the country. The NMP-Cebu is not just a museum but a bridge to our past and a window into our future, highlighting the commonalities and strengths of our identity as Cebuanos and as Filipinos,” said Frasco during the museum’s opening last Friday. No less than President Ferdinand Marcos Jr. and First Lady Liza-Marcos inaugurated the NMP-Cebu together with Frasco, NMP Chairperson Andoni Aboitiz, NMP director general Jeremy Barnes, Cebu Governor Gwendolyn Garcia and Cebu City Mayor Michael Rama. “The opening of the largest National Museum of the Philippines in Visayas will not only provide tourism gains in the province of Cebu but in the entire region. Needless to say, the museum will be a substantial addition to the plethora of offerings of Cebu providing a new reason to love and visit Cebu, and Central Visayas,” added the tourism chief. The DoT, through its infrastructure arm, the Tourism Infrastructure and Enterprise Zone Authority backed the restoration and conversion efforts of the NMP-Cebu in the four-year journey it took to its present state. Meanwhile, in his speech, President Marcos emphasized that the conversion of the landmark into an NMP-managed property is in line with the national government’s agenda to promote tourism and nurture the Philippines’ national identity. “I am delighted to be with you today at the inauguration of the National Museum of the Philippines in Cebu City. It is a milestone not only for the Queen City of the South and the whole province of Cebu but for the entire country as the opening of this museum brings to the fore our rich, natural cultural, and artistic treasures,” the President said in an address. Situated at the heart of Cebu City’s shipping capital, the building of the now NMP-Cebu was once the Cebu Customs House built in 1910 which was part of the grand design for Cebu created by American architect William Edward Parsons, to facilitate trade between the island and other neighboring communities. The landmark has withstood the test of time for 94 years, including the destructive Second World War. It was during the time of former President Gloria Macapagal-Arroyo that it was converted into “Malacañang sa Sugbo” in 2004, which served as the official residence of a Philippine president in Cebu. The move was also a testament to the province’s contribution to the country as a frontier of national progress. But the cultural treasure was not spared from the deadly 15 October 2013 earthquake when it was one of the 25 public and private structures in Cebu City that sustained extensive damage prompting authorities to close it for safety. The post NMP Cebu seen luring in tourists appeared first on Daily Tribune......»»
Aboitiz–led firm ready to deliver water to Davao
Davao City is set to get additional water supply as Aboitiz-led Apo Agua Infrastructura Inc. is set to deliver water from the Davao City Bulk Water Supply Project, with full operations targeted in the third quarter......»»
3K trees planted in Albay, Batangas on Arbor Day
AP Renewables Inc., a wholly owned subsidiary of Aboitiz Power, simultaneously planted a total of 3,450 tree seedlings in celebration of Arbor Day on 24 June. This included 1,500 in Sta. Elena, Sto. Tomas, Batangas; and an additional 1,950 in Naga, Tiwi, Albay. Aside from carbon sequestration, Arbor Day also aims to preserve the geothermal reservoir in Makiling-Banahaw and Tiwi. Narra, Pili, Amugis, Kamagong and Dau tree seedlings were planted during the event as recommended by the local community. National Power Corp. forester Ranil L. Alvarez emphasized: “Each tree absorbs carbon dioxide. Therefore, they are very important in decreasing air pollutants. Trees also serve as a protection to low-land areas by prohibiting the risks of flooding and landslides.” Alvarez added that trees help maintain the geothermal energy mechanism beneath the ground. Mt. Malaraya Environment Protection Council Inc. president Pedro Latore: “What we do is very important not only for us but for all the communities surrounding this mountain.” APRI SVP Ireneo Itoses: “The Aboitiz Power’s purpose of ‘Transforming Energy for a Better World’ is a testament to our support to the global Sustainable Development Goal No. 13 [Climate Action]. May this activity remind us of our roles as environmental stewards.” Almost 200 participants from different organizations joined efforts in making the event successful. Arbor Day is a nationwide celebration institutionalized by the Department of Environment and Natural Resources in the observance of planting trees and ornamentals since 2004. The post 3K trees planted in Albay, Batangas on Arbor Day appeared first on Daily Tribune......»»
Aboitiz invests additional P900 million in Union Digital
Aboitiz-led Union Bank of the Philippines is pumping in an additional P900 million to its digital banking arm to support its business growth......»»
Geothermal keeps Albay lights on despite Mayon
Tiwi Geothermal Power Plant in Albay maintained unhampered operations despite the Mayon Volcano unrest. The facility is controlled by the Aboitiz Power Corporation, the Aboitiz group’s holding company for energy-related investments. AP Renewables Inc. president and CEO Jeffrey Estrella, in a statement, reiterated that the facility’s geothermal electricity production is unaffected by the increased activity of the volcano. Thus, the plant will continue supplying renewable energy to the Luzon Grid. “The complex gross generation for the past week has been around 120 megawatts with no incident relating to Mayon’s unrest,” Estrella reported. “Nonetheless, despite Tiwi geothermal’s distance to Mayon’s crater of about 24 kilometers, we remain on safety alert for any possible eventualities,” he said. Binary plant soon Likewise, Estrella noted that the construction of a binary geothermal plant in the Tiwi Facility continues to progress. It is expected to generate an additional 17 MW of clean electricity to the main grid by the end of the year. Currently, the province of Albay is under a state of calamity due to the threat of eruption by the Mayon Volcano. The authorities raised an Alert Level 3 due to its “intensified unrest” or magmatic unrest. As a result, people living within the “permanent danger zone” or the six-kilometer radius have been evacuated. Recent data from the National Disaster Risk Reduction and Management Council indicated that there are close to 5,800 affected families, composed of over 20,000 individuals, from six municipalities and two component cities in the province. The affected families are now staying in evacuation centers that include local government-owned evacuation centers, public schools, and other buildings converted into temporary shelters in the cities of Ligao and Tabaco, and the towns of Sto. Domingo, Malilipot, Guinobatan, Camalig and Daraga. The post Geothermal keeps Albay lights on despite Mayon appeared first on Daily Tribune......»»
Aboitiz sets P800M West Cebu Estate industrial expansion
BALAMBAN, Cebu — Aboitiz InfraCapital, the infrastructure arm of the Aboitiz Group, is spending P800 million this year to bankroll the 39-hectare industrial expansion of the West Cebu Estate. Rafael Fernandez de Mesa, President of Cebu Industrial Park Developers, Inc. and Head of Aboitiz InfraCapital Economic Estates, said the company will mobilize the budget to kick off the estate’s transformation into a critical economic hub in the region. “Construction is ongoing. This year, we've earmarked about P800 million to develop this and we're now in the process of pinpointing additional investment that we’ll be pouring in over the next few years to develop a commercial district, which will include the neighborhood commercial,” De Mesa said in an interview with reporters on Wednesday. “We're very excited about this ongoing expansion This will diversify our locator mix, which will now include light to medium manufacturing,“ he added. The industrial expansion is part of the first phase of the planned expansion in West Cebu Estate. It is scheduled to be completed by next year. The next phase includes the establishment of the so-called West Cebu Exchange — a commercial complex that will host food outlets, retail shops, basic services, a supermarket, and a transportation hub. AboitizInfra eyes finishing the final phase of the expansion by 2025. The expansion plans, according to the company, will also generate 16,000 new jobs on top of the current 14,000 work population in the area. Formerly West Cebu Industrial Park, the West Cebu Estate, a 540-hectare mixed-use development, is a joint venture between the Aboitiz Group and Tsuneishi Holdings of Japan. It is home to some of the world’s leading maritime companies such as Australia’s Austal Philippines. It also houses the 283-hectare Philippine Economic Zone Authority registered zone tagged as the “Shipbuilding Capital of the Philippines.” The Aboitiz Group and its partners celebrated the 30th anniversary of West Cebu Estate on Wednesday, 25 May. "As we go along our journey of becoming the Philippines' first tech glomerate, we remain committed to expanding and transforming West Cebu Estate, and other economic estates, into future-ready, master-planned developments by leveraging on the synergies and capabilities with the bigger Aboitiz Group,” Cosette V. Canilao, Aboitiz InfraCapital President and Chief Executive Officer, said. The post Aboitiz sets P800M West Cebu Estate industrial expansion appeared first on Daily Tribune......»»
UBX integrates power digital payments
UnionBank of the Philippines’ UBX is powering the digital payments of retail electricity producer Aboitiz Power Corporation to speed up the way money moves by integrating digital payments to provide customers of the latters’ distribution utilities greater convenience. “UBX and AP share a steadfast commitment to promoting inclusion by providing wider access to services — be it finance or power. Our partnership, which leverages UBX’s open finance technology, brings this goal forward and provides customers the value of greater convenience,” UBX managing director for Open Finance Jaime Garchitorena said. Under the agreement, AboitizPower will integrate BUx, an all-in-one payment solution platform developed by UBX, into its mobile application, MobileAP. The app is available for subscribers of AP distribution utilities such as Visayan Electric Company, Davao Light and Power Company, Cotabato Light and Power Company, and the Subic and Lima EnerZones. Through this integration, customers can pay their electricity bills online, providing greater convenience by removing the long process of heading to service centers to settle their monthly dues. Moreover, MobileAP empowers customers to remotely check their electricity bill for the past 12 months without going to outposts to check their status or waiting for the physical copy via mail. As an all-in-one payment solution, BUx unifies everything about payment collection channels into one platform: from card payments, online banking or bank transfers, and over-the-counter payments to e-wallets. With BUx, businesses can track all their transactions through real-time updates and notifications of credited funds through its best-in-class merchant dashboard. “The future of our economy lies in digital payments. No less, the Bangko Sentral ng Pilipinas made it a mission to have 70 percent of Filipino adults involved in the financial system by transforming 50 percent of the total volume of retail payments into digital. By collaborating with different industry players, we are helping the government achieve that goal,” Garchitorena added. For download for both Apple and iOS devices, users can assess their power consumption and its monetary value through a chart tailored to their profile. They can download a PDF copy of their records with AP and manage multiple accounts in a single app. MobileAP also features additional functions such as multiple DU registration, notifications and advisories, payment and consumption monitoring, payment center and service center look-up, and more to come, such as outage reporting. The post UBX integrates power digital payments appeared first on Daily Tribune......»»
Davao Norte welcomes filing of bill expanding Davao Light’s franchise
DAVAO CITY (MindaNews / 7 February)—The provincial government of Davao del Norte lauded the filing of House Bill 6740 seeking to expand the franchise area of the Aboitiz-owned Davao Light and Power Company (DLPC) to eight additional areas. Davao del Norte Governor Edwin Jubahib, in a statement on Tuesday, said that the proposed measure is […].....»»
UnionBank completes P12-B stock rights offer
Aboitiz-led Union Bank of the Philippines has completed its stock rights offering meant to raise cash for the company’s capitalization and additional funding for its nascent digital bank......»»
AboitizPower projects higher revenues
Aboitiz Power Corp. expects a better topline performance this year with higher availability of its existing power plants and the additional capacity from its new power plant in Bataan......»»
Aboitiz Group pledges additional vaccine donations
The Aboitiz Group has pledged additional doses of vaccine donations to the government as part of Wave 2 of ‘A Dose of Hope’, a tripartite initiative among the private sector, the government, and British drugmaker AstraZeneca, in support of the National Immunization Program. The company joined more than 300 private companies and nearly 40 local […] The post Aboitiz Group pledges additional vaccine donations appeared first on Daily Tribune......»»
Kaspersky Shares Cybersecurity Tips for a Peaceful Getaway during the holy week
As the holiday season approaches, the urge to unwind and kick back is natural. And it’s all too common for people to let their guard down completely when connecting to the Internet too– but shouldn’t. Recently, the Philippine National Police (PNP) Anti-Cybercrime Group shared its findings on identity theft cases in the country. Between November […].....»»
Antipolo City throws support on Ajido
The Antipolo City government led by Mayor Casimiro “Jun” Ynares III will provide support to Antipolo-born swimmer Jamesray Mishael Ajido, who won the country’s lone gold medal in record-breaking fashion at the recent 11th Asian Age-Group Swimming Championships......»»
Waste consciousness urged during Holy Week
A DAVAO City-based environment group urged Dabawenyos to mind their waste during Holy Week......»»
New DCPO chief pledges technology-driven approach
THE new director of the Davao City Police Office (DCPO) underscored the utilization of technology to streamline their operations......»»