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SC junks UCPB, Cocolife bid over SMC shares
2015-09-16 09:04:15| Beverages - Topix.net
The Supreme Court has junked a bid by the United Coconut Planters Bank and United Coconut Planters Life Assurance to claim ownership over 11.03 percent and 11.01 percent, respectively, of San Miguel Corporation shares, also known as the Coconut Industry Investment Fund block of SMC shares. In a unanimous decision, the high court said the issue has long been settled in its January 24, 2012 ruling that affirmed government's ownership over the subject shares for having been acquired using coconut levy funds.
SMC threatens to sue PSALM for alleged contract breach
2015-09-15 18:29:54| Beverages - Topix.net
Food and beverage conglomerate San Miguel Corp. threatens to sue the state-owned Power Sector Assets and Liabilities Management Corp. for alleged breach of contract. SMC president Ramon Ang said Tuesday that the company would file a case against PSALM Board of Directors for breaching their administration agreement on the 1,200 megawatt Ilijan power plant.
Tags: contract
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alleged
breach
SMC raises P33.5-B from sale of shares
2015-09-15 06:07:42| Beverages - Topix.net
Diversified conglomerate San Miguel Corp. successfully raised P33.5 billion from a preferred share sale on strong interest from investors, one of the lead underwriters that handled the transaction said yesterday. "It was oversubscribed.
SMC can start collecting toll on newly-opened TPLEX segment
2015-03-10 13:36:15| Beverages - Topix.net
San Miguel Corp. can start collecting toll fees at the recently opened segment of the Tarlac-Pangasinan-La Union Expressway on March 17. This after the Toll Regulatory Board issued a notice of toll rate implementation to SMC's Private Infra Development Corp., which operates the TPLEX. The company can begin collecting toll fees for Segment 6 or the Carmen to Urdaneta segment of the TPLEX on March 17. "In accordance with the Toll Concession Agreement by and among the Department of Public Works and Highways , the TRB, and PIDC, the pre-accepted toll rates, inclusive of value added tax, are hereby approved for implementation starting March 17," the TRB's notice stated.
Tags: start
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SMC to lead bidders for P123-B Lakeshore project
2015-02-23 04:16:00| Beverages - Topix.net
Groups led by diversified conglomerate San Miguel Corp. are expected to bid for the P123 billion Laguna Lakeshore expressway and dike project, while other companies remained undecided as the deadline for the submission of qualification documents nears. A source said SMC would submit qualification documents for the Aquino administration's biggest public private partnership project to the Department of Public Works and Highways on Friday.
Tags: project
lead
bidders
smc