PetroEnergy’s Palawan wind farm gets go-signal from DoE
Source: https://www.bworldonline.com
THE Yuchengcos’ energy arm PetroEnergy Resources Corp. said on Tuesday that its renewable energy unit had been awarded by the Energy department a service contract for a wind farm in San Vicente, Palawan.
In a disclosure, it said the subsidiary PetroGreen Energy Corp. received the wind energy service contract from the Department of Energy (DoE) on Nov. 11, 2019 for a proposed project in the fast-growing tourism municipality around 130 kilometers north of Puerto Princesa City.
“The eco-tourism growth in San ...
UP, DLSU, Mapua University technology researches spin-off into startup companies
Source: https://www.goodnewspilipinas.com
University technology researches like UP Diliman’s Fish-I are being made into real products through the DOST FASTRAC program.
Five technology research projects from the University of the Philippines Diliman, De La Salle University, and Mapua University are being established as startup companies with market-ready products in a spin-off project of the Department of Science and Technology (DOST).
The five startup companies are being funded for a period of one year by the Funding Assistance for Spinoff ...
PetroWind Energy expands wind farm in Aklan
Source: https://www.philstar.com
NABAS, Aklan , Philippines — Yuchengco-led PetroWind Energy Inc. (PWEI) is expanding its wind farm here by another 14 megawatts, a ranking official said.
The project expansion, estimated to cost P1.4 billion, will bring the total capacity of the Nabas wind project to a peak of 50 MW, PWEI executive vice president Francisco Delfin Jr. said in an interview yesterday.
“We want Nabas 2 to be online or at least ready for connection to the grid by ...
Tan returns to YGC, named HI head
Source: https://www.philstar.com
MANILA, Philippines — Banker Lorenzo Tan is back with the Yuchengco Group after resigning as president and CEO of Rizal Commercial Banking Corp. in 2016 in the midst of the $81 million money laundering issue that rocked the country and the bank at the time.
Yuchengco-owned House of Investments Inc. announced yesterday the appointment of Tan as its new president and CEO.
Tan was president and CEO of RCBC from 2007 to 2016.
He graduated from De La Salle University with a ...
House of Investments and Ayala Complete Strategic Merger of Education Companies
MAKATI, Philippines – May 2, 2019 House of Investments Inc. (“HI”) and its education holding company iPeople, inc. (“iPeople”), and Ayala Corporation (“AC”) and its wholly-owned education subsidiary AC Education, Inc. (“AC Education”), announced the completion of the merger of AC Education with iPeople. The merger has received all necessary board, stockholder and regulatory approvals and is effective as of today. Post-merger, listed iPeople shall be the surviving entity, with HI and its affiliates, and AC, controlling 51.3% and 33.5%, ...
Yuchengco firm takes control of Funeraria Paz
Source: https://www.philstar.com
MANILA, Philippines — Listed House of Investments Inc. (HI), one of the four major flagship corporations of the Yuchengco Group of Companies (YGC), beefed up its afterlife service business by raising its stake in La Funeraria Paz-Sucat Inc.
The investment holding and management company with a diversified portfolio acquired additional shares of La Funeraria Paz-Sucat for a controlling interest of 63 percent from 37 percent.
“The total acquisition cost is less than 10 percent of HI’s stockholders’ equity,” the company said ...
Japan-Filipino consortium bags Metro Manila subway project
Source: https://www.philstar.com
MANILA, Philippines — A consortium of Japanese and Filipino firms has bagged the contract to design and build the first phase of the Metro Manila subway project, which will commence construction this week.
The Department of Transportation (DOTr) said it has signed the design and build contract for the Metro Manila Subway’s first three stations, or its partial operability section, with the joint venture of Shimizu Corp., Fujita Corp., Takenaka Civil Engineering Co. Ltd. and EEI Corp.
The joint venture will ...
iPeople allocates P2.5B for Mapua Makati campus
Source: https://www.bworldonline.com
THE education arm of the Yuchengco group will be investing P2.5 billion to develop a new Mapua campus in Makati City.
In a disclosure to the stock exchange last week, iPeople, Inc. said its subsidiary Malayan Education Systems, Inc. (MESI) has acquired a 5,114-square meter property along P. Ocampo, Sr. Ave., Makati City. The company said this will be funded through internal and external sources.
MESI operates under the name of Mapua University, considered a leading private engineering and technical university ...
EEI going into biotech business
Source: https://www./business.inquirer.net
Yuchengco-led construction and engineering firm EEI Corp. is diversifying into biotechnology by taking over Biotech JP Corp., a company that manufactures therapeutic food products using Japanese-patented technology.
In a disclosure to the Philippine Stock Exchange yesterday, EEI said it would acquire a 60-percent stake in Biotech JP, which uses Japanese-patented bacteria biotechnology for preserving and packaging rice as part of its off-the shelf rice products manufacturing business.
Yuchengco-led construction and engineering firm EEI Corp. is diversifying into biotechnology by taking over Biotech ...
House of Investments and Ayala Announce Strategic Merger of Education Companies
MAKATI, Philippines – October 1, 2018 House of Investments Inc. (“HI”), HI’s education holding company iPeople, inc. (“iPeople”), Ayala Corporation (“AC”) and AC’s wholly-owned education subsidiary AC Education, Inc. (“AC Education”) signed the definitive agreements for the merger of AC Education with iPeople. The merger shall be subject to the approval of the stockholders of AC Education and iPeople, and securing the necessary regulatory approvals. Post-merger, listed iPeople shall be the surviving entity, with HI and AC controlling 51.3% and ...
Yuchengco, Ayala groups approve merger of education businesses
Source: www.bworldonline.com
THE Ayala and Yuchengco groups have approved the merger of their education businesses valued at around P15.5 billion, with listed firm iPeople, Inc. to be the surviving entity.
In a joint statement filed after trading hours on Monday, Ayala Corp. (AC) and Yuchengco-led House of Investments, Inc. (HI) said they have signed the definitive agreements merging their respective education units, AC Education, Inc. (AEI) and iPeople, Inc.
HI will control 51.3% of the surviving entity iPeople, while AC will have a ...
BOI approves registration of 20-MW solar power project
Source: business.inquirer.net
PetroSolar Corp. yesterday said it had secured the registration at the Board of Investments of its 20-megawatt “Tarlac-2” project.
“With BOI’s award of the incentives registration for our Tarlac-2 project, PetroSolar is closer to securing the confirmation of commerciality from the Department of Energy (DOE) needed for project construction to begin,” PetroSolar president Milagros V. Reyes said in a statement.
“We are excited by this new investment which will see our solar asset increase in capacity from 50 MW to 70 ...
Mapúa graduate places 10th in June 2018 architecture boards
Mapúa University sustained its excellent performance in board examinations, producing another topnotcher in the June 2018 Architect Licensure Examination.
Garnering an 82.10% rating, Arch. Enelle Louie H. Marallag placed 10th in the board examination administered by the Professional Regulation Commission (PRC).
This achievement follows up the University and its alumni’s success in the January 2018 Architect Licensure Examination and raises the number of Mapúa-produced topnotchers in 11 of PRC-administered licensure examinations since year 2000 to 351. Mapúa also dominated three other recent licensure examinations, with ...
Mapúa shows exemplary performance in 2018 boards
Mapúa University takes pride in its growing list of exemplary graduates with a number of Mapúans finishing this year’s board examinations with high marks, earning them spots in the Top 10 board passers.
Peter Matthew Paul T. Fowler, with a rating of 83%, ranked first in the May 2018 Chemical Engineer Licensure Examination. Out of 636 examinees in the country, only 296 board takers passed the exam.
In the same month, five graduates of the University’s Civil Engineering program dominated the Board ...
JOINT PRESS STATEMENT BY THE HOUSE OF INVESTMENTS AND AYALA CORPORATION REGARDING THE PROPOSED MERGER OF THEIR EDUCATION GROUPS
iPeople, inc. (“iPeople”), the listed holding company for the education sector of House of Investments Inc., a member of the Yuchengco Group of Companies, and AC Education, Inc. (“AEI”), the wholly-owned education arm of Ayala Corporation, have executed a Non-Binding term sheet for their potential merger. Under the Non-Binding term sheet, the parties agreed to an exclusivity period to complete due diligence, and to finalize the terms and conditions of the proposed merger within the first quarter of ...
