Lopez Holdings

 

2002

Maynilad seeks continuing viability of concession
Benpres Holdings Corporation today disclosed that Maynilad Water Services, Inc. served notice to the Metropolitan Waterworks and Sewerage System (MWSS) requesting MWSS to fulfill its obligations under Amendment No. 1 of the concession agreement to ensure the viability of the concession.

An open letter to Juan Ponce Enrile
Dear Johnny,
I am addressing this open letter to you in answer to some of the questions you posed to me the past week. But frankly, my real audience is not so much you but the public who are not aware of what happened to Meralco and the Lopezes during martial law.

Statement of Oscar M. Lopez on charges made by Juan Ponce Enrile
Following is a brief statement from Oscar M. Lopez, chairman of the Lopez Group of companies, in response to rehashed charges made over the past few days by former senator Juan Ponce Enrile .

Benpres trims 1st sem loss by 89%
For the six months ended June 30, 2002, Benpres reported a 9% increase in its revenues from the same period last year to P838 Million. Although Benpres registered a decline in accretion of earnings on Notes of P327 Million from the same period last year, the Company still reported an increase in revenues due to the following: (a) First Philippine Holdings Corporation (FPHC) accounted for bulk of the item, "equity in net earnings of investees"; and (b) Benpres already provided for the write-off of its investment in BayanTel last year, and therefore BayanTel's net loss for the semester was no longer reflected under the item, "equity in net losses of investees". Benpres loss provision with Bayantel will be reviewed again when it recognizes the remaining P5.0 Billion guaranteed liability from the convertible preferred shares issued by Bayantel by end of 2002.

A statement from the Lopez family
Who owns Meralco? A number of misinformed statements have been made by various sources ranging from a paid ad in this newspaper on June 3, 2002, remarks by the daughter of the late dictator Ferdinand Marcos to forces led by a former coup leader and agit-prop spokesmen from radical leftist groups, about how the Lopez family regained their position at Meralco.

Lopezes clarify issues on Meralco
The Lopezes today belied claims that their family received compensation from the Philippine government for relinquishing control of Meralco during martial law.

Annual Stockholder's Meeting Press Statement
Introduction
Management began a thorough strategic and operational review of the group during 2001 to address the financial and operational issues that would affect the group this year. Part of this process involved the appointment of Credit Suisse First Boston ("CSFB") as financial adviser to the group. As a result of the review, management and the adviser formulated a Balance Sheet Management Plan ("Plan").

Benpres breaks even in 1Q2002
For the period ended March 31, 2002, Benpres reported a 69% increase (PhP197 Million) in its revenues from the same period last year to P481 Million. Although Benpres registered a decline in accretion of earnings on Notes of P214 Million from the same period last year, the Company still reported an increase in revenues due to the following: (a) First Philippine Holdings Corporation (FPHC) accounted for bulk of the item, "equity in net earnings of investees"; (b) Benpres already provided for the write-off of its investment in BayanTel last year, and therefore BayanTel's net loss for the quarter will no longer be reflected under the item, "equity in net losses of investees". Benpres will not reflect any losses arising from Bayantel until it recognizes the remaining P5.0 Billion guaranteed liability from the convertible preferred shares issued by Bayantel; (c) Benpres also booked some recovery from a rise in the market value of the Company's investments in Digitel.

New Rockwell flyover to help ease traffic
Rockwell Land will inaugurate the Edsa-Estrella Ramp on April 23. The flyover, which connects north-bound Edsa (after Buendia) to Estrella in Makati, is expected to ease congestion in that stretch.

Smart partners with FindMe LBS
Cellular phone giant Smart Communications Inc. has signed a service provider agreement with premier location-based services provider FindMe LBS, a member of the e-Lopez Group of Companies, to provide vehicle-tracking information to TrackMe and Smart subscribers.

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CONTACT US

Lopez Holdings Corporation (formerly Benpres Holdings Corporation)
4/F Benpres Building, Exchange Road, 1605 Pasig City, Philippines

  • Trunkline: (632) 449-2345
  • Fax: (632) 634-3009
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