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LT Records a Decline for 2013

Lucio Tan-led LT Group, Inc. (LT) recorded a 32% decline in net income for 2013, dropping to Php8.67 billion from Php12.76 billion registered in 2012 on the back of sluggish performances of its units particularly the tobacco business.

LT’s tobacco business saw its net income fall to Php3.94 billion, 43% lower than the previous year’s Php6.91 billion.

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SCB and PLDT News

Standard Chartered Bank (SCB) has finalized a deal with Cebu Air Inc. (CEB) for a multi-million dollar finance lease transaction.

According to StanChart Managing Director and Chief Commercial Officer of Aviation Finance Simon Perkins, the transaction is a 10-year financing facility for two Airbus 320-200 aircrafts which was arranged and funded exclusively by the bank.

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PEP Says There Will Be More Pipeline Projects Until 2022

Based on the Philippine Energy Plan (PEP), the government is looking to put nine natural gas projects in place in Luzon from 2017 to 2022, with the intent of developing the country’s natural gas industry.

Some of the projects include Batangas-Manila 1 (BatMan1), which is considered to be the backbone infrastructure as a high-pressure gas transmission pipeline from Batangas to Sucat, Batangas Manila-2, Bataan-Cavite, Subic Pipeline, Clark Pipeline and Subic-Fort Bonifacio Pipeline among others.

meralco 1024x838 PEP Says There Will Be More Pipeline Projects Until 2022 Read the rest of this entry »

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