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[DatePublished] => 2003-07-15 00:00:00 [ColumnID] => 135040 [Focus] => 0 [AuthorID] => 1488513 [AuthorName] => Margaret Jao-Grey [SectionName] => Business [SectionUrl] => business [URL] => ) [5] => Array ( [ArticleID] => 211809 [Title] => Metrobank group goes into power biz with buyout of Panay Power [Summary] => Metrobank subsidiaries First Metro Investment Corp. and Global Business Holdings Inc. (GBHI) have jointly entered into an agreement to acquire the entire equity interest in power generation company Panay Power Corp.
Panay Power Corp. is majority owned by First Generation Holdings Corp. (First Gen), which is a wholly-owned subsidiary of listed company First Philippine Holdings Corp. (FPHC).
Panay Electric Co., the utility distribution company operating in Iloilo, is the recipient of power generated by Panay Power.
[DatePublished] => 2003-06-29 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => 1097672 [AuthorName] => Ted P. Torres [SectionName] => Business [SectionUrl] => business [URL] => ) [6] => Array ( [ArticleID] => 204681 [Title] => First Metro posts P401-M net income in 2002 [Summary] => First Metro Investment Corp., the investment banking arm of the Metrobank Group, posted net income of P401 million for the year ended 2002.
"First Metro achieved respectable results in 2002 amidst a weak investment and lending market. Profitability was maintained with net income declining by a mere two percent at P401 million against P410 million in 2001," said First Metro president Francisco C. Sebastian in his report during the company’s annual stockholders’ meeting.
[DatePublished] => 2003-05-03 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => [AuthorName] => [SectionName] => Business [SectionUrl] => business [URL] => ) [7] => Array ( [ArticleID] => 181786 [Title] => ‘Jose Velarde account had over P476-M deposits in 10 months’ [Summary] => An Equitable PCI Bank teller testified at the Sandiganbayan yesterday that over P476 million were deposited to the controversial Jose Velarde account in 10 months from September1999 to July 2000.
Returning to the witness stand, Glyzelyn Bejec, customer service assistant teller of Equitable PCI Bank, told the anti-graft court’s special division, chaired by acting Presiding Justice Minita Chico-Nazario, that she personally attended to the deposits during the 10-month period.
[DatePublished] => 2002-10-29 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => 1097133 [AuthorName] => Jose Rodel Clapano [SectionName] => Nation [SectionUrl] => nation [URL] => ) [8] => Array ( [ArticleID] => 180482 [Title] => Shemberg makes first payment under rehab program [Summary] => The country’s biggest seaweed/carrageenan company, Shemberg Marketing Corp. (SMC) made its first payment of P221.8 million out of the P1.6 billion it owes to a consortium of commercial banks.
SMC chief executive officer Benson U. Dakay said the P221.8 million represents loan interests and other company commitment and obligations under an omnibus agreement signed between the company and its creditors. The agreement spelled out the company’s 10-year rehabilitation program.
[DatePublished] => 2002-10-19 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => 1704647 [AuthorName] => Rocel Felix [SectionName] => Business [SectionUrl] => business [URL] => ) [9] => Array ( [ArticleID] => 159346 [Title] => BSP to revive incentives for bank mergers, acquisitions [Summary] => The Bangko Sentral ng Pilipinas (BSP) is planning to revive incentives for mergers and acquisitions and add even more perks to encourage further consolidation in the banking industry. [DatePublished] => 2002-05-02 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => 1096655 [AuthorName] => Des Ferriols [SectionName] => Business [SectionUrl] => business [URL] => ) ) )
[DatePublished] => 2003-07-15 00:00:00 [ColumnID] => 135040 [Focus] => 0 [AuthorID] => 1488513 [AuthorName] => Margaret Jao-Grey [SectionName] => Business [SectionUrl] => business [URL] => ) [5] => Array ( [ArticleID] => 211809 [Title] => Metrobank group goes into power biz with buyout of Panay Power [Summary] => Metrobank subsidiaries First Metro Investment Corp. and Global Business Holdings Inc. (GBHI) have jointly entered into an agreement to acquire the entire equity interest in power generation company Panay Power Corp.
Panay Power Corp. is majority owned by First Generation Holdings Corp. (First Gen), which is a wholly-owned subsidiary of listed company First Philippine Holdings Corp. (FPHC).
Panay Electric Co., the utility distribution company operating in Iloilo, is the recipient of power generated by Panay Power.
[DatePublished] => 2003-06-29 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => 1097672 [AuthorName] => Ted P. Torres [SectionName] => Business [SectionUrl] => business [URL] => ) [6] => Array ( [ArticleID] => 204681 [Title] => First Metro posts P401-M net income in 2002 [Summary] => First Metro Investment Corp., the investment banking arm of the Metrobank Group, posted net income of P401 million for the year ended 2002.
"First Metro achieved respectable results in 2002 amidst a weak investment and lending market. Profitability was maintained with net income declining by a mere two percent at P401 million against P410 million in 2001," said First Metro president Francisco C. Sebastian in his report during the company’s annual stockholders’ meeting.
[DatePublished] => 2003-05-03 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => [AuthorName] => [SectionName] => Business [SectionUrl] => business [URL] => ) [7] => Array ( [ArticleID] => 181786 [Title] => ‘Jose Velarde account had over P476-M deposits in 10 months’ [Summary] => An Equitable PCI Bank teller testified at the Sandiganbayan yesterday that over P476 million were deposited to the controversial Jose Velarde account in 10 months from September1999 to July 2000.
Returning to the witness stand, Glyzelyn Bejec, customer service assistant teller of Equitable PCI Bank, told the anti-graft court’s special division, chaired by acting Presiding Justice Minita Chico-Nazario, that she personally attended to the deposits during the 10-month period.
[DatePublished] => 2002-10-29 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => 1097133 [AuthorName] => Jose Rodel Clapano [SectionName] => Nation [SectionUrl] => nation [URL] => ) [8] => Array ( [ArticleID] => 180482 [Title] => Shemberg makes first payment under rehab program [Summary] => The country’s biggest seaweed/carrageenan company, Shemberg Marketing Corp. (SMC) made its first payment of P221.8 million out of the P1.6 billion it owes to a consortium of commercial banks.
SMC chief executive officer Benson U. Dakay said the P221.8 million represents loan interests and other company commitment and obligations under an omnibus agreement signed between the company and its creditors. The agreement spelled out the company’s 10-year rehabilitation program.
[DatePublished] => 2002-10-19 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => 1704647 [AuthorName] => Rocel Felix [SectionName] => Business [SectionUrl] => business [URL] => ) [9] => Array ( [ArticleID] => 159346 [Title] => BSP to revive incentives for bank mergers, acquisitions [Summary] => The Bangko Sentral ng Pilipinas (BSP) is planning to revive incentives for mergers and acquisitions and add even more perks to encourage further consolidation in the banking industry. [DatePublished] => 2002-05-02 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => 1096655 [AuthorName] => Des Ferriols [SectionName] => Business [SectionUrl] => business [URL] => ) ) )
By Zinnia B. Dela Peña | January 20, 2010 - 12:00am
By Zinnia B. Dela Peña | August 9, 2006 - 12:00am
By Ehda Dagooc | February 3, 2006 - 12:00am
By Zinnia B. Dela Peña | November 28, 2003 - 12:00am
By Margaret Jao-Grey | July 15, 2003 - 12:00am
By Ted P. Torres | June 29, 2003 - 12:00am
May 3, 2003 - 12:00am
By Jose Rodel Clapano | October 29, 2002 - 12:00am
By Rocel Felix | October 19, 2002 - 12:00am
By Des Ferriols | May 2, 2002 - 12:00am
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1$ : P51.66