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MANILA, Philippines — Around 7,000 passengers have been stranded in ports across Luzon and Visayas due to inclement weather brought by Severe Tropical Storm Kristine (international name: Trami), the Philippine Coast Guard said on Wednesday, October 23.
MANILA, Philippines — Seasoned showbiz reporter Ogie Diaz is returning to television via TV5's new game show "Quizmosa."
MANILA, Philippines — Teresita Valdehueza was only 17 years old when she saw the Kingdom of Jesus Christ (KOJC) as a way to serve God back in 1980. Under the guidance of Davao-based pastor Apollo Quiboloy, Valdehueza felt she had reached a profound, spiritual awakening.
LOS ANGELES, United States — Donald Trump may have become involved with a porn star, but if elected president he could try shutting down the entire industry, adult film stars are warning in a push to get young men to vote against the Republican next month.
Meralco [MER 493.00 ?0.9%; 108% avgVol] [link] confirmed a report by BusinessWorld on a possible IPO listing for its renewable energy subsidiary, MGen Renewable Energy (MGreen), which itself is a subsidiary of MERALCO PowerGen Corp (MGen). In the report, MGen’s President, Emmanuel Rubio, said that the market is “enticing for investments”, adding, “There is nothing holding us back from considering listing [MGreen]. The matter is when and if we really need to. We are evaluating our options.” Mr. Rubio said that an IPO, if it did happen, “could” happen in the next five years. MER clarified that Mr. Rubio’s statements on it were accurate, but that the plans are “preliminary in nature” and have not been “presented to the Board of MGen for consideration.” MGen is the legal entity that acquired SP New Energy [SPNEC 1.22 unch; 47% avgVol].MB BOTTOM-LINE: I applaud the journalist’s work in getting Mr. Rubio to speak more openly about MGen and MGreen, but almost every company on the PSE has a vague plan for how it could raise money through listing subsidiaries. Spinning-off subsidiaries are to CFOs as war games are to Generals. Just like every country has a battle plan for every contingency, every CFO has at least a one-page document somewhere (probably with an associated Excel spreadsheet that hasn’t been updated since the pandemic) outlining how the parent company could raise money through a subsidiary’s listing, and under what conditions this might be most advantageous. MER’s boss, Manny Pangilinan, has a complicated history with the PSE. He has been quick to use the threat of listing to help in his negotiations with other parties, so I guess I’ll believe it when I see it.
COTABATO CITY —A gunman shot dead a broadcast journalist in an attack in Barangay Tumaga in Zamboanga City on Tuesday night, October 22.
MANILA, Philippines — The Ninoy Aquino International Airport has suffered its first major setback since the NAIA was turned over to a private operator as travelers reported reaching their destinations without their check-in luggage.
MANILA, Philippines — Tropical Storm Kristine was forecast to strengthen before it makes landfall over Northern Luzon tonight or early tomorrow morning, according to the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA).