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Federico “Piki” Lopez takes control of the diminished Lopez Group, what now?

The resignation of Eugenio Lopez III (EL3) from the Lopez Holdings Corporation (LPZ), the Lopezes flagship company,  allowed the younger Lopezes to take the helm of the much diminished Lopez Group. The Lopezes were once a force to reckon with in Philippine business but a series of missteps have slowly shrank the group to irrelevance. Continue reading “Federico “Piki” Lopez takes control of the diminished Lopez Group, what now?”

Gabby Lopez resigns as wealth erosion puts control of the Lopez group at risk

ABS-CBN Corporation (ABS), Rockwell Land Corporation (ROCK), and First Gen Corporation (FGEN), are operating public companies that are thought to be owned by the Lopezes. But the Lopezes do not actually owns them. The Lopezes only control them. They wield control over these companies through layers of holding companies. At a market capitalization of aroundContinue reading “Gabby Lopez resigns as wealth erosion puts control of the Lopez group at risk”

FGEN’s San Gabriel 414MW Combined Cycle Power Plant unavailable for dispatch

First Gen Corporation (FGEN) is currently investigating the condition of the generator of its 414MW San Gabriel Combined Cycle Power Plant following a trip. The initial investigation, which is being carried out by specialists from Siemens Power Operations Inc., indicates that there is an electrical fault in the generator, and pending completion of the inspection,Continue reading “FGEN’s San Gabriel 414MW Combined Cycle Power Plant unavailable for dispatch”

ABS at the mercy of creditor banks

ABS-CBN Corporation (ABS) has finally submitted its first half 2020 (1H 2020) results. The results showed that it has the financial strength to continue its operations. It has cash, cash equivalents, and short-term investments of 18 Billion Pesos as of end of 1H 2020 while debts due in the next 12 months is only 0.5Continue reading “ABS at the mercy of creditor banks”