+ Follow FIRST GENERATION HOLDINGS Tag
FIRST GENERATION HOLDINGS
Array
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[results] => Array
(
[0] => Array
(
[ArticleID] => 366952
[Title] => Gov’t to sell 60% of power assets by early 2007 – Teves
[Summary] =>
The government expects to privatize up to 60 percent of its power generation and transmission assets by early 2007, according to Finance Secretary Margarito Teves.
He said the sale of the assets of National Transmission Corp. (TransCo), the sole operator of the country’s power transmisson network has been set on Dec. 20.
Preliminary government estimates show that TransCo’s assets could now be worth as high as $3 billion from its $2 billion valuation in 1996.
[DatePublished] => 2006-11-04 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[1] => Array
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[ArticleID] => 346065
[Title] => Gov’t to scrap YNN contract
[Summary] => The merchant contract of the YNN Pacific Consortium will be terminated by Monday, the Department of Finance (DOF) announced yesterday after forfeiting the group’s $14-million performance bond.
The bond was ordered forfeit by the Power Sector Assets and Liabilities Management Corp. (PSALM) earlier after YNN failed to deliver the upfront payment of $227.54 million for the acquisition of the Masinloc power plant.
[DatePublished] => 2006-07-07 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[2] => Array
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[ArticleID] => 345154
[Title] => PSALM to rebid Masinloc facility
[Summary] => The Power Sector Assets and Liabilities Management Corp. (PSALM) has decided to rebid the 600-megawatt (MW) Masinloc coal-fired power facility after YNN Pacific Consortium Inc. and its partner Ranhill Berhad of Malaysia failed to pay the $227.54 million downpayment last Friday.
At the same time, PSALM forfeited the $14-million performance bond posted by the YNN group.
The decision was arrived at as PSALM’s board stood firm on not giving in to another extension of the payment of the 40 percent upfront cash.
[DatePublished] => 2006-07-03 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096364
[AuthorName] => Donnabelle L. Gatdula
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[3] => Array
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[ArticleID] => 267179
[Title] => DOE urged to stop sale of Zambales power plant
[Summary] => Senate Minority Leader Aquilino Pimentel Jr. asked the Department of Energy (DOE) yesterday to withhold approval of the sale of the 600 megawatt coal-fired power plant of the National Power Corp. (Napocor) in Masinloc, Zambales.
Pimentel was concerned by allegations that the winning bidder, YNN Pacific Consortium Inc., lacked the capital and track record to operate the plant.
He claimed that YNN Pacific, identified as an Australian—Filipino company, had a paid-up capital of only P625,000 and a maximum capitalization of P10 million.
[DatePublished] => 2004-12-12 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1097133
[AuthorName] => Jose Rodel Clapano
[SectionName] => Headlines
[SectionUrl] => headlines
[URL] =>
)
[4] => Array
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[ArticleID] => 257736
[Title] => PSALM to rebid Sorsogon power plant
[Summary] => The Power Sector Assets and Liabilities Management Corp. (PSALM) will rebid the 0.4-megawatt (MW) Cawayan hydro electric power plant in Sorsogon within this month, a top compay official said yesterday.
PSALM vice president Froilan Tampinco said the rebidding followed a failure in the original bidding for the power facility last June 29.
"We will start the bidding process again and conduct another bidding within the month of July," Tampinco said.
[DatePublished] => 2004-07-16 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096364
[AuthorName] => Donnabelle L. Gatdula
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[5] => Array
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[ArticleID] => 254759
[Title] => British power giant, First Gas eye LNG terminal in Batangas
[Summary] => British power giant BG Group and Lopez-owned First Gas Holdings will look into the prospects of putting up an LNG (liquefied natural gas) terminal in Batangas.
A P23 million study, which will establish the feasibility and optimal timing of an LNG facility, focusing on a Batangas location will be conducted by BG Group. The study is expected to be completed by the end of this year.
The study will also determine the feasibility of LNG importation to fuel future power generation requirements in the Philippines.
[DatePublished] => 2004-06-21 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096364
[AuthorName] => Donnabelle L. Gatdula
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[6] => Array
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[ArticleID] => 250189
[Title] => First Holdings income up 47% to P874M in Q1
[Summary] => First Philippine Holdings Corp. (FPHC), the energy unit of the Lopez-owned Benpres group of companies, posted a net income of P874.4 million in the first quarter of the year, up by 47 percent from P596.5 million in the same period last year largely due to gains from the sale of its stock investments.
In a financial report filed with the Securities and Exchange Commission, FPHC said it sold last January its 1.1 million preferred shares in SiRF Technology Holdings Inc., a supplier of semiconductor and software solutions based in San Jose, California.
[DatePublished] => 2004-05-16 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[7] => Array
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[ArticleID] => 165306
[Title] => Benpres defaults on bond payments
[Summary] => Lopez-owned holding firm Benpres Holdings Corp. said yesterday it would renegotiate the terms of interest payments and principal repayments of its long term commercial papers (LTCPs) and Euronote issues following its failure to pay these charges on time.
Benpres corporate secretary Enrique Quiason told the Philippine Stock Exchange that the company was not able to make its interest payments on the LTCPs due last June 17 and will also default on the interest payments of its 7.875-percent Euronotes due yesterday.
[DatePublished] => 2002-06-20 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096615
[AuthorName] => Christina Mendez
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[8] => Array
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[ArticleID] => 96202
[Title] => Lopez Group open to compromise on cross-ownership in power sector
[Summary] => The Lopez Group of Companies is open to compromise on the issues of cross-ownership and stranded cost recovery under the proposed Power Sector Restructuring Program now pending in Congress, a ranking company official said yesterday.
"We are open to compromise in cross-ownership and stranded cost as long as this will not affect the viability of the company and will result to future monopolies in the long-term. We want a level playing field," Manila Electric Co (Meralco) board member and overall strategist of the Lopez Group Christian Monsod said.
[DatePublished] => 2001-02-22 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096364
[AuthorName] => Donnabelle L. Gatdula
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
)
)
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