DMCI Holdings, SMPC among best governed PLCs
by Philippine Resources - January 30, 2023
Photo caption (left to right): SMPC Corporate Governance and Compliance Manager Joseph D. Susa, DMCI Holdings Board Advisor and SMPC Independent Director Honorio O. Reyes-Lao and SMPC SVP, Chief Risk, Compliance and Performance Officer Junalina S. Tabor.
Diversified engineering conglomerate DMCI Holdings and its energy subsidiary Semirara Mining and Power Corporation (SMPC) were among the Philippine listed companies recognized for their corporate governance performance by the Institute of Corporate Directors (ICD).
DMCI Holdings received the 2 Golden Arrow recognition while SMPC was awarded the 3 Golden Arrow recognition.
Both have been ASEAN Corporate Governance Scorecard (ACGS) Golden Arrow awardees since 2019.
The awards were conferred after the two companies exhibited observable conformance with the Philippine Code of Corporate Governance and internationally recommended corporate governance practices as espoused by the ACGS.
The ACGS measures the performance of the companies in the areas of facilitating the rights and the equitable treatment of shareholders, how they relate to their different stakeholders, ensuring transparency and accountability through timely disclosure of material information, and how the board guides the company strategically, monitors the management, and ensures the board’s accountability to the company and the shareholders.
Over 80 Philippine listed companies were feted during the in-person awarding ceremony in Sheraton Manila Hotel last January 20.
Article courtesy of the Philippine Stock Exchange
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Philippine Resources - May 04, 2022
SMPC completes mine rehab of largest open pit in PH
Integrated energy company Semirara Mining and Power Corporation (SMPC) has completed its backfilling operations in Panian, once the largest open-pit mine in the Philippines. SMPC spent 11.5 million man-hours to fill the pit with over 452 million bank cubic meters (bcm) of earth material, which is enough to fill 217,000 Olympic-size swimming pools. “We are mindful of our twin role as stewards and government contractor. What we accomplished in Panian is proof of that,” said SMPC president and COO Maria Cristina C. Gotianun. Located in Semirara Island, Panian mine spans 400 hectares with topographic elevations that ranged from 300 meters below sea level (mbsl) to 30 meters above sea level (masl) during its mine life. 300 meters is roughly the height of a 90-story building. SMPC fully covered the pit in six years, way ahead of the original 10-year mine rehabilitation plan. Mine rehabilitation refers to the repair of land that was disturbed by mining activities. The company is now developing a science-based plan to reforest and restore the biodiversity in the area. Panian had a mine life of 16 years and generated P12.7 billion in royalties for the government and SMPC host communities. Of the total amount, P7.6 billion went to the national government while the Municipality of Caluya and Brgy. Semirara received P2.3 billion and P1.8 billion, respectively. P1 billion went to the Province of Antique. In September 2021, SMPC won in the ASEAN Energy Awards (Special Submission category) for its accelerated rehabilitation of South Panian pit, which is considered as the fastest of its kind and scale in the Philippines. SMPC completely filled North Panian with earth material last January, four months ahead of its committed date to the Department of Energy.
Philippine Resources - May 31, 2022
Semirara Mining and Power Corp remits record P5.9B royalty in Q1; up 807% YoY
Photo credit: Bilyonaryo Integrated energy company Semirara Mining and Power Corporation (SMPC) recently remitted P5.9 billion in government royalty to the Department of Energy (DOE), the highest in its corporate history. The first-quarter remittance is an 807-percent upsurge from the P656 million that SMPC paid during the same period last year. All-time high coal shipments and average selling prices account for the record-setting government share. “We had an exceptionally strong start, so much so that in three months, we surpassed our previous full-year royalty payments,” said SMPC president and COO Maria Cristina C. Gotianun. In 2021, SMPC paid a total of P5.4 billion to DOE as improved coal output and favorable market conditions allowed the company to ship more coal at elevated prices. Of the P5.9 billion remitted by SMPC, more than P3.5 billion will be retained by the national government. In accordance with the law, the rest will go to the host local government units of the SMPC mine site. The province of Antique will receive P476 million while the municipality of Caluya and Barangay Semirara will receive around P1.1 billion and P833 million, respectively. The Local Government Code of 1991 entitles local government units to a 40 percent share of royalty proceeds from petroleum, coal, geothermal, hydrothermal and wind resources. SMPC is the only vertically-integrated power generator in the country that produces its own fuel. As the largest domestic coal producer, it supplies affordable fuel to power plants, cement factories and other industrial facilities across the Philippines. Article courtesy of the Philippine Stock Exchange
Philippine Resources - March 17, 2022
Semirara Mining and Power Corp earns P16.2b net income in 2021, highest in its 41-year history
Photo: Integrated energy company Semirara Mining and Power Corporation (SMPC) ended 2021 with a net income of P16.2 billion, the highest in its 41-year history. The 393-percent leap from P3.3 billion the previous year was mainly attributable to an 8- percent rise in coal production, 16-percent jump in coal shipments and 71-percent surge in average coal selling prices. “Our results reflect the hard work of our people. They rose to the challenges of the pandemic and delivered exceptional value to our stakeholders,” said SMPC president and COO Maria Cristina C. Gotianun. Contributions from the coal segment grew by 535 percent from P1.8 billion to P11.4 billion while both power subsidiaries delivered improved performances. Sem-Calaca Power Corporation contributed P3.3 billion, a 154-percent upturn from P1.3 billion the previous year. Meanwhile, Southwest Luzon Power Generation Company recorded a 1,563-percent rise in contributions from P87 million to P1.4 billion. For the fourth quarter alone, SMPC saw its net income expand by nearly twenty times from P297 million to P5.9 billion, its highest profit level for any given quarter. Average selling prices from October to December rallied by 229 percent from P1,354 to P4,452 as global supply disruptions and accelerated demand from China, India and Europe pushed index prices to record levels. Elevated coal prices offset the impact of lower shipments, which was nearly halved (46%) from 4.6 million metric tons (MMT) to 2.5 MMT owing to weather-induced coal production drops in the third quarter. Article courtesy of the Philippine Stock Exchange
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Philippine Resources - March 23, 2023
20 Years of Integral: Celebrating Growth and Transformation
Integral, a purveyor of market-leading process control solutions in the Philippines, celebrates its 20th anniversary this 2023. The event, held in EDSA Shangri-La, was attended by the company’s employees, clients, and supply chain partners. The celebration was a showcase of Integral’s history. But more importantly, it highlighted lessons the company learned as keys to success over the past two decades. As told from the perspective of the founders and employees, the event delivered a playful yet heart-warming glimpse into Integral's journey.
Philippine Resources - March 23, 2023
PH, Australia partner for technical cooperation for PPP
Photo: Australian Ambassador to the Philippines Hae Kyong Yu PSM. Credit: AusAmbPH Twitter Page As the Marcos administration becomes bullish in utilizing a public-private partnership (PPP) model in infrastructure projects, the Australian government will be providing its technical expertise in rolling out infrastructure projects under the PPP. Australian Ambassador to the Philippines Hae Kyong Yu PSM told the Philippine News Agency in an interview at her residence Wednesday that the embassy will be launching the Partnerships for Infrastructure (P4I) on March 24. “Infrastructure is a big area that the Philippines is focusing on, and I know President (Ferdinand R.) Marcos (Jr.) has announced that he wants to utilize PPP more where it’s possible. So we are working closely with the Philippine government to share with them how Australia has done it,” Yu said. P4I is an Australian government initiative that brings together experts from the public and private sectors as well as the academe to help Philippine government agencies involved in infrastructure development in the preparation stage of projects that would be under a PPP model. “We can help them with all the project preparation stage. How you do actual cost-benefit analysis of potential projects, and then how you prepare documents for possible procurement, tender processes, and things like that,” the envoy cited. She said that aside from the PPP Center, the P4I also aims to closely work with other agencies including the Department of Transportation, the Department of Energy, the Department of Finance, and the National Economic and Development Authority (NEDA), among others. Yu added that the Australian government will be closely working with the administration through the P4I in meeting its diverse infrastructure requirements, including roads, transport, energy, and public investment management. The Australian envoy said a number of Australian companies have been involved in infrastructure projects in the country. Early this month, NEDA Secretary Arsenio Balisacan announced that the NEDA Board approved PHP9 trillion worth of flagship infrastructure projects, with 45 of these projects possibly being funded through PPPs. “The government shall harness the financial and technical resources of the private sector, which allows the public sector to allocate its funds for greater investment in human capital development, especially to address the scarring in health and education due to the pandemic, and provided targeted assistance that protects vulnerable sectors from economic shocks,” Balisacan had said. By Kris Crismundo Article courtesy of the Philippine News Agency
Philippine Resources - March 21, 2023
PBBM boosts transport sector thru big-ticket projects
Photo credit: Department of Transportation Several big-ticket infrastructure projects in the transportation sector have been approved or are already being implemented by the administration of President Ferdinand R. Marcos Jr., the Department of Transportation (DOTr) reported Monday. In a statement, the DOTr said the Cebu Bus Rapid Transit Project, Davao Public Transport Modernization Project, EDSA Greenways, the Light Rail Transit Line 2 (LRT-2) West Extension, and the Light Rail Transit Line 1 (LRT-1) Cavite Extension are all ongoing as of March 9 according to the National Economic and Development Authority (NEDA). These projects are among the 67 infrastructure flagship projects (IFP) that have been greenlit or are already underway out of the 194 high-impact projects under Marcos’ "Build Better More" program. In the rail sector, these approved and ongoing projects include the Metro Manila Subway Phase 1, Mindanao Rail Phase 1, Metro Rail Transit Line 3 (MRT-3) rehabilitation, Metro Rail Transit Line 4 (MRT-4), Metro Rail Transit Line 7 (MRT-7), New Cebu International Container Port, New Manila International Airport (Bulacan International Airport), North-South Commuter Railway (NSCR), Philippine National Railways (PNR) South Long Haul, and the Subic Clark Railway. The New Dumaguete Airport Development Project (Bacong International Airport) and the Integrated Flood Resilience and Adaptation (InFRA) Phase 1 have also both been approved by NEDA, with six projects awaiting approval. Last week, the NEDA Board, led by Marcos, approved 194 high-impact priority projects with a total cost of around PHP9 trillion. The board also approved amendments to the 2013 Joint Venture guidelines to support the government’s push for more investments in the country’s infrastructure. PNR suspension Meanwhile, Senate President Pro Tempore Loren Legarda has expressed alarm over an impending suspension of select PNR routes due to the NSCR, saying it will affect thousands of commuters, mostly students and workers. “The welfare of the riding public should always be prioritized yet it remains to be seen whether such proposed solutions would effectively and sufficiently address the riding public's urgent demands in time for the imminent suspension of the operations of the PNR,“ Legarda said in her explanatory note on Senate Resolution No. 546. The PNR plans to suspend operations of certain routes for up to five years to facilitate the faster construction of the 55-kilometer NSCR. The construction will start in May and PNR may suspend the routes between Governor Pascual in Malabon City and Calamba City in Laguna, and well as Alabang, Muntinlupa City to Calamba. The Tutuban, Manila-Alabang route will be suspended in October and will affect between 20,000 and 25-000 passengers daily. Legarda urged the Committee on Public Order, chaired by Senator Grace Poe, to look into the impending suspension and come up with alternative solutions. Article courtesy of the Philippine News Agency
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