Latest news with #ManuelPangilinan
GMA Network
6 days ago
- Business
- GMA Network
MPIC posts P15-billion core net income in H1, up 20%
Pangilinan-led conglomerate Metro Pacific Investments Corporation (MPIC) saw a 20% growth in its core net income in the first half of 2025 to P15 billion from P12.5 billion in the same period in 2024. MPIC attributed its earning growth to improved performance across its portfolio with contributions from units' operation rising 18% to P17.5 billion on the back of robust growth in Meralco's power generation business, the implementation of higher tariffs at Maynilad, and rising patient volumes across the Metro Pacific Hospitals network. MPIC's power business, led by Meralco, continued to contribute the largest share at P11.2 billion or 64%. The conglomerate said its water and toll roads business contributed P3.8 billion and P3.3 billion, respectively, accounting for 41%. 'Our performance in the first half of the year reflects the continued resilience and strength of our businesses. We've seen meaningful contributions from power, water, and toll roads—sectors that are fundamental to the country's development,' said MPIC chairman, president, and CEO Manuel Pangilinan. 'Beyond financial performance, we are sharpening our focus on long-term value creation by scaling investments in areas where we can make the greatest impact—energy, food security, and inclusive infrastructure. The momentum is encouraging, and we intend to continue building on it,' he added. — Ted Cordero/BM, GMA Integrated News
GMA Network
22-07-2025
- Climate
- GMA Network
PLDT, Smart provide free calls, texts, data for storm-hit customers
Two people walk on a flooded road in Candaba, Pampanga on July 22, 2025. 24 Oras video PLDT Inc. and its wireless unit Smart Communications on Tuesday announced they are providing free calls, texts, and 250MB of data to affected customers in areas severely impacted by the Crising-enhanced Habagat rains. In a news release, PLDT-Smart said free calls, text, and data are now accessible to subscribers in Angono, Bataan, Bulacan, Cainta, Las Piñas, Marikina, Mindoro, Pampanga, Pangasinan, Pasig, Tarlac, Taytay, and Zambales. The telco said it will continue to monitor conditions and coordinate with local authorities to extend assistance where needed. 'Staying connected is a lifeline in times like these,' said Manuel Pangilinan, chairman and CEO of PLDT-Smart. Anastacio Martirez, COO of Smart, added, 'We've activated free calls, texts, and data in affected areas so our customers can reach out for help, or to their loved ones. Keeping our network up and our services available is our top priority.' Pangilinan, who is also president and CEO of Meralco, also directed the power distributor to position and deploy high bed and amphibious trucks, motorized boats, and trained rescue teams in flooded areas. PLDT-Smart said its Smart Cares Crisis Hotline (+63288457799) remains open to help customers connect with family members and receive safety advisories. Customers are encouraged to follow official government bulletins and take necessary precautions, the telco said. — BM, GMA Integrated News
GMA Network
02-06-2025
- Business
- GMA Network
Maynilad secures SEC approval for IPO this July 2025
West zone concessionaire Maynilad Water Services Inc. has secured the approval of the Securities and Exchange Commission (SEC) to proceed with its initial public offering (IPO) this July, as the firm is required to offer at least 30% of its outstanding capital stock as part of its government-issued franchise. Based on its latest timeline submitted to the SEC, Maynilad plans the offer period from July 3 to July 9, with the shares set to be listed on the main board of the Philippine Stock Exchange on July 17. The corporate regulator's En Banc resolved to render effective Maynilad's registration statement covering 1,934 primary shares and 354,704,200 secondary shares on May 30, subject to compliance with certain requirements. Maynilad is set to offer 1,680,317,400 common shares at up to P20 apiece, with an overallotment option of up to 249,047,600 shares and a preferential offer of up to 29,904,800 shares. The company is set to net up to P37.41 billion, should the overallotment option and preferential offer be fully subscribed. Proceeds are set to bankroll the company's capital expenditures, and corporate general purposes. The company earlier planned to raise P49 billion from its IPO by offering 2.46 billion common shares at a maximum price of P20 each. 'The initial numbers, they're all tentative, so don't be surprised if they adjust it, but they're close to make a final determination — the number of shares, how many are primary, how many are secondary,' Maynilad chairman Manuel Pangilinan told reporters on the sidelines of an event last week. 'Some of the shareholders might decide to sell down a bit, and of course, the pricing also. I think in the next few weeks or by next month, within a range, they will announce the range of prices at which the IPO will be offered. So just watch out for that space,' he added. The company tapped BPI Capital Corp., The Hongkong and Shanghai Banking Corporation Limited (HSBC), Morgan Stanley Asia (Singapore) Pte., and UBS AG, Singapore Branch as joint global coordinators and joint bookrunners for the offer. Under its franchise signed into law by former President Rodrigo Duterte in December 2021, Maynilad is mandated to offer at least 30% of its outstanding capital stock within five years. Maynilad currently serves customers in the west zone, which covers the cities of Caloocan, Las Piñas, Makati, Malabon Manila, Muntinlupa, Navotas, Parañaque, Pasay, Quezon, Valenzuela. It also services certain areas in Cavite such as the cities of Bacoor, Cavite, and Imus; and the towns of Kawit, Noveleta, and Rosario. —KG, GMA Integrated News
Bloomberg
27-02-2025
- Business
- Bloomberg
PLDT Eyes KKR Stake to Take Control of Philippines Fintech Unit
PLDT Inc. is interested in acquiring KKR & Co. 's stake in its fintech affiliate in a move that could allow the top Philippine telecom company retake control of the now-profitable business. 'It looks like Maya is starting to turn the corner. We'd be keen to increase our stake,' PLDT Chairman and CEO Manuel Pangilinan told reporters on Thursday.
