Philippine stocks: Gainers, losers, market-moving news – September 2021

In January 2020, Aboitiz Power Corporation got its first president and chief executive officer who is outside of the Aboitiz clan.

The company named Emmanuel “Manny” Rubio as its new boss, as the Aboitiz clan relied more and more on professional management.

Rappler business reporter Ralf Rivas talks to Rubio about his vision and plans for AboitizPower, as well as his leadership style and interests outside work.

Watch the interview here.

First Gen Corporation on Tuesday, September 14, confirmed that three of its plants stopped receiving supply from the Malampaya gas field starting Saturday, September 11, due to maintenance activities over the weekend.

Because of this, the Santa Rita and San Lorenzo gas-fired plants have operated using the more expensive condensate as liquid fuel, while the Avion power plant used diesel.

First Gen also said the San Gabriel plant had to shut down because it could not shift to liquid fuel.

The company said, however, that it received word from Malampaya that it will slowly start resupplying gas on Tuesday.

The Manila Electric Company (Meralco) on Monday, September 13, said it will be building a “new modern substation” facility in Paco, Manila.

In a disclosure, Meralco confirmed reports that it won the highest bid at P632.16 million for a Paco property of the Power Sector Assets and Liabilities Management Corporation (PSALM).

Read more.

Globe Telecom is launching a new service which would allow subscribers to make their own promo.

Dubbed GoCREATE, the new feature lets prepaid users customize their promo subscription on the updated GlobeOne app, depending on their needs.

Details here.