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Only $123.9-M submitted on SMC power unit's $400-M tender offer
By MYRNA M. VELASCO
SMC Global Power Holdings Corporation (SMCGP), the energy investment arm of the San Miguel group, reported that it only received $123.934 million worth of securities by its bondholders, way below the $400-million
As it shifts to low-grade coal for its electricity generation to offset foregone revenues from a denied rate hike, conglomerate San Miguel Corporation is now looking forward to "financial rebound" across the chain of its energy businesses.
Its subsidiary SMC Global Power Holdings Corporation (
State-run Power Sector Assets and Liabilities Management Corporation (PSALM) indicated that it is pursuing P34.04 billion worth of ‘overdue payables’ from South Premiere Power Corporation (SPPC), a subsidiary of San Miguel Corporation that served as independent power producer administrator (IPPA) of
Lopez-led First Gen Corporation is seeking tenders from prospective international suppliers of liquefied natural gas (LNG) for its gas requirements that will cover the period from 2023 to 2027. “The response of the market so far - although we haven’t selected suppliers yet - is very, very positi