Chinese start TransCo due diligence.
Byline: MYRNA M. VELASCO State Grid of China has already taken a step forward to undertake initial due diligence on its interest to join the bidding for the 25-year concession contract of the National Transmission Corporation. The company, in a meeting with both officials of...

TransCo sees slight income drop next year.
The National Transmission Corporation (TransCo) has projected a slight drop in its income to P15 billion in 2007; but this may come after prospects of higher profit of P17 billion to P20 billion this year. The spinoff transmission firm is expecting the income rise this year from...

Customs, other agencies to stop onion smuggling.
Byline: ANGIE CHUI Customs Commissioner Napoleon Morales and other officials yesterday readied an action plan against the rampant smuggling of onions, other vegetables, and meat products into the country. The customs chief said he and representatives of the Department of Agriculture (DA), Bureau of Quarantine...

MWSS draws Maynilad's $120-M performance bond.
Metropolitan Waterworks and Sewerage System (MWSS) has fully drawn the $120-million performance bond of Maynilad Water Services Inc. (MWSI) as partial payment for unpaid concession fees since 2001. MWSS Administrator Orlando Hondrade confirmed the full draw of the performance bond last Friday. The bond was deposited by...

PSALM opens 200-MW Manila thermal plant to bidders' due diligence.
The Power Sector Assets and Liabilities Management Corporation (PSALM) opens next week (January 10) until February 14 due diligence by interested investors on the 200megawatt Manila thermal facility which is due for privatization within the first quarter. The deadline set for submission of letter of interest (LoI)...

PBA faces loss of millions; Ex-IBC boss says collapse of coverage was avoidable.
Byline: edgard hilario AS FEARED by many, the Philippine Basketball Association is expected to be millions of pesos poorer after what appeared to be the collapse of its broadcasting deal with government channels Nation Broadcasting Network (NBN) Channel 4 and International Broadcasting Corp. (IBC) Channel 13 which...

PBA eyes legal action vs bank over NBN-4 LC.
Byline: dodo catacutan jr. THE PHILIPPINE Basketball Association said yesterday it will have no choice but file legal action against Manilabank in a bid to draw from the Letter of Credit the bank issued backing up the leagues television contract with NBN-4. Commissioner Noli Eala...

DTI moves to lower cost of transport spare parts.
Byline: BERNIE CAHILES-MAGKILAT The Department of Trade and Industry is taking concrete steps like discounts for tires and implementation of the duty-free importation of spare parts from 10 to 15 percent to help transport operators lower their operating expenses and persuade them to hold off a fare...

GenSci makes payment to Osteotech for patent infringement.
Following its recent emergence from bankruptcy, GenSci Orthobiologics Inc made an initital payment of US$2.5 million to Osteotech Inc out of the total owed of $7.5 million. The payment is part of the settlement agreement resolving Osteotech's claims against GenSci arising out of the finding at trial...

PBA-NBN 4 TV deal still in limbo.
Byline: dodo catacutan jr. UNCERTAINTY CONTINUED to shroud the television coverage of the Philippine Basketball Association to be done this year by the NBN-4/IBC-13 consortium, less than two weeks before the start of the pro leagues 2003 season. NBN-4/IBC-13 won the broadcast rights as early...