Lopez Holdings

 

2011

Lopez Holdings 9M attributable net income at P4.096 billion
The successful tender offer of Lopez Holdings Corporation (PSE: LPZ) in August 2011 for some US million in un-restructured debt cushioned the impact of relatively weaker financial results of investees for 9M2011. LPZ recorded P2.1 billion as reversal of accrued interest on debt, following the acceptance of tenders for 82% of the targeted amount.

PR group using Lopez firms to muddle Senate probe of DBP loans

We wish to reply to the Nov. 7 columns of Neal Cruz and Conrado Banal III, both of which refer to the same subject, regarding certain loans that were written off by the Development Bank of the Philippines (DBP) from 2004 to 2009. Curiously, the two columnists wrote on the same topic, on the same day, using the same words. They were obviously victimized by some PR operatives who desperately want to muddle the current Senate investigation on the DBP scandal by diverting its focus. While Cruz may not have fully understood the intricacies of complex financial transactions, we were surprised that Banal, who should know better as a business columnist, bought the pitch of these PR operatives hook, line and sinker, thus misleading Inquirer readers.

Lopez Holdings tender offer for unrestructured debt ends

Lopez Holdings Corporation (PSE: LPZ) announced the expiration of its tender offer for unrestructured debt, which gave creditors the opportunity to sell approximately US$ 41 million back to the company at full face value.

Lopez Holdings 1H attributable net income at P815 million

Lopez Holdings Corporation (PSE: LPZ) posted P815 million in net income attributable to equity holders of the Parent for the first six months of 2011. This is 93% lower than the P11.376 billion net income attributable to equity holders of the Parent reported in the first six months of 2010. LPZ booked P127 million equity in the net loss of associates, following the P284 attributable net loss of associate First Philippine Holdings Corporation (PSE: FPH) during the period. The equity in net earnings of associates amounting to P10.641 billion in 1H2010 included LPZ’s share in the gain on sale of Meralco shares by FPH.

FPH posts loss on EDC impairment
For the first half of 2011, First Philippine Holdings Corporation (FPH) posted an unaudited net loss attributable to Parent of P284 million, a decrease from last year's net income of P24.9 billion.

ABS-CBN nets P1.7 billion for the first half of 2011

Rolando Valdueza ABS-CBN Chief Finance OfficerThe consolidated net income of ABS-CBN Corporation (“ABS-CBN” or the “Company”) (PSE: ABS, ABSP), the country’s largest multimedia conglomerate, registered P1.7 billion for the first six months of the year.

ABS-CBN delivered consolidated revenues of P13.9 billion from advertising and consumer sales, an 18% decline compared to a year ago. Less the revenues from political advocacies and advertisement from the first six months of 2010, consolidated revenues in the first half of 2011 increased by 1% year-on-year.

Lopez Holdings makes tender offer for remaining debt
Lopez Holdings Corporation (PSE: LPZ) announced a tender offer for its remaining debt, giving creditors the opportunity to sell approximately US million back to Lopez Holdings at full face value.

Lopez Holdings working to resolve debt issue
Lopez Holdings Corporation (PSE: LPZ) continues to work on resolving issues related to its remaining P1.8 billion in unrestructured debt.

At today’s annual meeting, Lopez Holdings president Salvador G. Tirona told shareholders the company is in the final stretch of the financial restructuring process it has pursued for the last nine years.

Remarks of Ambassador Manuel M. Lopez, Chairman and Chief Executive Officer* at the Annual Stockholders’ Meeting

Fellow shareholders:

The year 2010 saw the country enter a new era, as President Benigno S. Aquino III received an overwhelming mandate from the Filipino people in the first automated national elections in the Philippines. Gross domestic product grew by 7.3 percent, the highest annual growth in the last 25 years. According to official government figures, the industry and services sectors expanded strongly in the last quarter of 2010, and agriculture recovered after four consecutive quarters of decline due to El Nino.

Mailing List

Please enter your email address to join our mailing list and receive our corporate updates.

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
You are here: Home 2011