BusinessWorld
January 31, 2021 | 6:48 pm
Cordova Mangrove Center with bird-watching deck launched
THE town of Cordova in Cebu’s Mactan Island now has a mangrove propagation center that also features a view deck for bird watching. The facility was funded by Metro Pacific Investments Foundation, the corporate social responsibility arm of Metro Pacific Investments Corp. (MPIC) and its subsidiary Cebu-Cordova Link Expressway Corporation (CCLEC). “We entrust this Mangrove Propagation and Information Center to the people of Cordova, under Mayor Mary Therese Sitoy-Cho, in the belief that they will use this to advance their environmental and economic agenda,” said MPIC Chairman Manuel V. Pangilinan in a statement following the facility’s inauguration last week. CCLEC is the proponent of the P30-billion Cebu-Cordova Link Expressway, an 8.5-kilometer toll bridge that will serve as an additional route between Mactan and Cebu City through the South Road Properties. Th
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January 18, 2021 | 12:04 am Font Size
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THE Toll Regulatory Board (TRB) said the Cavitex Infrastructure Corp. (CIC) and the Philippine Reclamation Authority (PRA) have both filed a petition âfor the approval of add-on agreed toll rate with application for provisional reliefâ for the Segment 1 (R-1 Expressway) Enhancement of the Manila-Cavite Toll Expressway Project.
TRB Executive Director Abraham P. Sales said in a Jan. 11 notice that âany interested expressway userâ can file a âpetition to reviewâ within 30 days from the date of its first publication.
In its petition, CIC, the joint venture partner of PRA for the Manila-Cavite Toll Expressway Project, said they are entitled to recover the new investment for the enhancement of R-1 Expressway by way of an âadd-on toll rateâ as authorized by the Toll Operation Agreement (TOA) executed in 1996.
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December 29, 2020 | 12:02 am Font Size
PHILSTAR/EDD GUMBAN
THE LOCAL bourse on Monday suspended the trading of securities of Manila Electric Co. (Meralco), which earlier announced its unit Meralco PowerGen Corp.âs (MGen) intention to acquire 100% ownership of Global Business Power Corp. (GBP) as the distribution utility has yet to submit the requirements for the substantial acquisition.
In a regulatory filing, open-end investment company First Metro Philippine Equity Exchange Traded Fund, Inc. (FMETF) said that the suspension took effect on Monday morning.
âThe Exchange deems that the foregoing transaction (of acquiring full ownership of GBP) is covered by the Rule on Disclosure for Substantial Acquisitions and Reverse Takeovers, under Section 5, Article VII of the Consolidated Listing and Disclosure Rules of the Exchange (the âSubstantial Acquisition Ruleâ),â the FMETF reported.