Approval of new economic zones to bring in P40b

By Othel V. Campos

THE Philippine Economic Zone Authority is optimistic that the remaining 27 new economic zone development proposals will be approved and proclaimed by Malacañang before end2023 with initial investment value of over P40 billion.

PEZA director general Tereso Panga said over the weekend the P20 billion Felcris Centrale IT Park in Davao City and 19 more projects are still for review by the Office of the President with combined investments of P20 billion.

“The President instructed the DTI (Department of Trade and Industry), PEZA and OP-DESGA (OP-Deputy Executive Secretary for General Administration) to streamline and harmonize the requirements to speed up the presidential proclamation process for ecozones,” he said.

The PEZA board has approved the revised guidelines for registration of ecozones including endorsements to the Office of the Secretary at the DTI and OP for the proclamation, he said.

The remaining ecozone development projects are IT parks which are not yet for endorsement to the OP but have submitted their proposal to PEZA. The projects will still undergo assessment by the PEZA board.

PEZA approved P80.58 billion worth of projects In the first half of 2023, up 258 percent from P22.48 billion during the same period in 2022.

The premier investment promotion agency said PEZA investments grew by 232.81 percent to P198.79 billion during the first year of the Marcos Administration from July 2022 to June 2023 compared to P58.73 billion a year ago.

PEZA is ramping up its investment promotion and facilitation initiatives to bring in much-needed FDIs to the country.

This is ahead of the anticipated influx of investors to the country as PEZA conducts follow-through on the outbound missions initiated by the President.

NOTICE OF ANNUAL STOCKHOLDERS’ MEETING

Notice

POWER retailer Manila Electric Co. reported a 3.4 percent sales volume growth reaching 24,458 gigawatthours during the first half of the year, driven by the strong performance of its commercial segment.

Meralco senior vice president Ferdinand Geluz said June sales alone grew four percent compared to the same period last year.

“Our June sales (for Meralco distribution utility only) is at 4,582 GWh, four percent increase versus June 2022 (4,405 GWh). This is the all-time highest month’s sales for Meralco,” Geluz said.

Commercial sales went up by 8 percent while residential also grew 6 percent in June.

“The usual drivers are retail and restaurant and hotels. Real estate also went up as BPOs continue to shift towards onsite,” Geluz said. He said residential sales increased due to hotter temperatures and humidity experienced last month.

Industrial sales, however, declined by 4 percent year-on-year.

Meanwhile, commercial sales volume grew 10 percent in the first half due to the full face-to-face operations of businesses and school openings.

Residential sales went up by one percent but sales to industrial customers declined by two percent in the first six months.

Meralco posted a 2 percent sales volume growth in the first quarter.

Meralco’s consolidated core net income rose by 40 percent to P9 billion in the first three months from P6.4 billion in the same quarter in 2022.

NOTICE IS HEREBY GIVEN that the Annual Stockholders' Meeting (ASM) of the aforementioned Corporation will be held virtually or via remote communication on 10 August 2023 at 2:00PM via Zoom webinar. Stockholders can register at https://bit.ly/SoldivoFundsASM2023 Webinar password will be sent via email after registration.

The Agenda of the Meeting is as follows:

I. Call to Order

II. Certification of Notice and Quorum

III. Approval of the Minutes of the Annual Shareholders Meeting held on 14 October 2022

IV. Management Report V. Presentation of the Audited Financial Statements as of 31 December 2022

VI. Ratification of the Corporate Acts of the Board of Directors since the last annual stockholders’ meeting

VII. Election of Directors for 2023 to 2024

VIII. Delegation of Authority to the Board of Directors to Appoint External Auditor for 2023

IX. Other Matters

X. Adjournment aforementioned Corporation will be held virtual ly or via remote communication on 10 August 2023 at 3:00PM via Zoom webinar. Stockholders can register at https://bit.ly/SoldivoFundsASM2023 Webinar password will be sent via email after registration. The Agenda of the Meeting is as follows:

Only holders of issued stocks of record as at the close of business hours on 15 June 2023 and whose status as stockholders on that date has been satisfactorily established in accordance with the corporate records of the Stock and Transfer Agent and the Corporate Secretary of the Company, will be entitled to notice of, and to vote at, the scheduled stockholders’ meeting.

Given the current circumstances and in order to ensure the safety and welfare of our stockholders in light of the COVID -19 pandemic, the Corporation will dispense with the physical attendance of stockholders at the meeting and will allow attendance only by remote communication and by voting in absentia or voting through the Chairman of the meeting as proxy.

Stockholders who intend to participate in the meeting via remote communication and to exercise their vote in absentia must notify the Corporate Secretary by registering through the Company’s website for the 2023 annual meeting of the stockholders on or before 31 July 2023. All information submitted will be subject to verification and validation by the Corporate Secretary by 03 August 2023. Successful registrants will receive an e-mail with instructions on how to access an online web address which will allow them to join the meeting and cast votes in absentia or by proxy in favor of the Chairman of the meeting.

The procedures for participating in the me eting through remote communication and for casting their votes in absentia are set forth in the Information Statement.

I. Call to Order

II. Certification of Notice and Quorum

III. Approval of the Minutes of the Annual Shareholders Meeting held on 14 October 2022

IV. Management Report

V. Presentation of the Audited Financial Statements as of 31 December 2022

VI. Ratification of the Corporate Acts of the Board of Directors since the last annual stockholders’ meeting

VII. Election of Directors for 2023 to 2024

VIII. Delegation of Authority to the Board of Directors to Appoint External Auditor for 2023

IX. Other Matters

X. Adjournment

Only holders of issued stocks of record as at the close of business hours on 15 June 2023 and whose status as stockholders on that date has been satisfactorily established in accordance with the corporate records of the Stock and Transfer Agent and the Corporate Secretary of the Company, will be entitled to notice of, and to vote at, the scheduled stockholders’ meeting. Given the current circumstances and in order to ensure the safety and welfare of our stockholders in light of the COVID -19 pandemic, the Corporation will dispense with the physical attendance of stockholders at the meeting and will allow attendance only by remote communication and by voting in absentia or voting through the Chairman of the meeting as proxy. Stockholders who intend to participate in the meeting via remote communication and to exercise their vote in absentia must notify the Corporate Secretary by registering through the Company’s website for the 2023 annual meeting of the stockholders on or before 31 July 2023. All information submitted will be subject to verification and validation by the Corporate Secretary by 03 August 2023. Successful registrants will receive an e-mail with instructions on how to access an online web address which will allow them to join the meeting and cast votes in absentia or by proxy in favor of the Chairman of the meeting.

The procedures for participating in the meeting through remote communication and for casting their votes in absentia are set forth in the Information Statement.

Makati City, Philippines, 19 June 2023