Bilyonaryo - Business

Higher traffic volume buoys SMC SLEX earnings by 41% in nine months

November 28, 2022

Bilyonaryo.com

The operator of South Luzon Expressway (SLEX) saw its net income jump by 41 percent to P2.49 billion from January to September on the back of higher vehicle traffic.

SMC-SLEX said revenue grew 19 percent to P4.7 billion. This was also a little higher than pre-COVID level of P4.68 billion due to the continued easing of movement restrictions.

Annual average daily traffic rose by 16 percent to 372,471 while vehicle volume increased across all classes with the highest increase in class 1 and 2 by 17 percent and 11 percent, respectively.

The average transaction mode for the period was 80 percent for RFID and 20 percent for cash.

SMC SLEX has earmarked P14.19 billion for its capital expenditures this year, largely to fund Toll Road 4 projects and other enhancement and expansion projects which include preventive replacement of equipment to ensure that the toll collection system, traffic control and surveillance system and other critical systems of tollway operation are in good working condition.

The 66.74-kilometer SLEX TR 4 , estimated to cost P26.1 billion, will connect Sto. Tomas, Batangas to Lucena City, Quezon. It is also seen to shorten the travel time from Sto. Tomas, Batangas to Barangay Mayao in Lucena City from the usual three hours to just 45 minutes. It is expected to be completed by 2026.

Related News Tags: SLEX, South Luzon Expressway (NLEX-SLEX)

Sy-blings take over Podium complex with acquisition of partner’s equity interest

The banking arm of the bilyonaryo Sy family, BDO Unibank Inc., is acquiring the entire equity interests of Keppel Philippines Properties Inc. and Opon-KE Properties in SM Keppel Land Inc. (SMKL), owner and developer of the Podium complex located in Ortigas.

Lucio Tan’s tobacco business suffers as excise taxes bite

Philippine Morris Fortune Tobacco Corp., the joint venture between bilyonaryo Lucio Tan’s Fortune Tobacco Corp. and global giant Philip Morris, is set to continue feeling the impact of higher excise taxes.

Unopposed: Mike Tan’s allies sweep FFCCCII elections with Hapee’s Cecilio Pedro as new president

Lamoiyan-Hapee president and CEO Cecilio Pedro won as the new president of the Federation of Filipino Chinese Chambers of Commerce and Industry Inc. (FFCCCII).

Boardroom drama: Top exec storms out of boardroom meeting after getting called out by bilyonaryo director for poor performance

A recent boardroom meeting at a major blue chip company turned into a heated exchange between a top exec and one of the directors.

Holcim Philippines struggles with lower revenues and rising energy costs

Cement giant Holcim Philippines’ net income dropped by 63 percent to P941.8 million in the past year, mainly due to reduced sales and increased production costs.

Sy-blings take over Podium complex with acquisition of partner’s equity interest

Lucio Tan’s tobacco business suffers as excise taxes bite

Unopposed: Mike Tan’s allies sweep FFCCCII elections with Hapee’s Cecilio Pedro as new president

Boardroom drama: Top exec storms out of boardroom meeting after getting called out by bilyonaryo director for poor performance

Holcim Philippines struggles with lower revenues and rising energy costs

Sy-blings reward SM Prime’s top executives with 13% hike in pay, perks for fantastic effort in 2022

Frederick Go goes thrift shopping, snags P13.5 million Robinsons Land shares

GMA continues nationwide expansion with launch of 12th regional network in Ilocos Norte

Grab Philippines expands transport services in Iloilo to create new livelihood opportunities

Recommended from sister websites

→ Abogado
Marcos Jr denies pouncing on Teves over old e-sabong scandal

→ Abogado
Guevarra: Former president Duterte may face ICC arrest warrant for drug war deaths

→ Politiko
Marcos to public servants: Let’s make the Philippines respected worldwide

→ Politiko
Tansingco: Fugitive Taiwanese ‘drug lord’ deported

→ Bankero
Second Tier’ PH Banks expected to underperform – Fitch unit

Power

Major oil leak in southern English port

A major oil leak took place on Sunday in Poole Harbour, a port in the south of England, local authorities said Sunday.

Money

Aboitiz conglomerate’s UnionBank upsizes bond program to P50 billion

UnionBank of the Philippines, the banking unit of the Aboitiz Group, announced that it will be increasing its debt issuance program by 28 percent to support its business expansion plans.

Business

Lucio Tan’s tobacco business suffers as excise taxes bite

Property

New York’s famous Flatiron Building sells at auction

New York’s iconic Flatiron Building — famous for its thin, triangular shape — has sold at auction for $190 million following a court order.

Latest on Bilyonaryo

Swiss regulator vows to hold Credit Suisse bosses to account

Swiss financial regulator Finma is probing how to hold bosses at Credit Suisse to account following its emergency takeover by rival UBS, a media report said on Sunday.

Aboitiz conglomerate’s UnionBank upsizes bond program to P50 billion

UnionBank of the Philippines, the banking unit of the Aboitiz Group, announced that it will be increasing its debt issuance program by 28 percent to support its business expansion plans.

Elon Musk puts Twitter’s value at just $20 billion

Elon Musk has put the current value of Twitter at $20 billion, less than half the $44 billion he paid for the social media platform just five months ago, according to an internal email seen by American news media.