CREIT seals purchase of South Cotabato property to boost income

Citicore Energy REIT, an affiliate of Megawide Corp., has sealed the acquisition of a 79,997 square meter property in South Cotabao for P753.8 million. The property, located in the municipality of Surallah, province of South Cotabato, was acquired from Citicore Solar South Cotabato. It is the site of a 6.23 megawatt peak solar power plant […]

Citicore renews power supply deals with 5 clients

Citicore Renewable Energy Corp., an affiliate of bilyonaryo Ed Saavedra’s Megawide Corp., has renewed power supply contracts with five of its long-time partners for an aggregate capacity 5.1 megawatts. Bench Tower, Citystate Condominium, Eastfield, Succeed Ventures Asia, and Prince Alumer Development Corp. (Padcor) agreed to extend their agreement with Citicore for another two years. The […]

Levelling up: Louie Ferrer named vice chairman of Megawide

Megawide Corp. has approved the appointment of its executive director for infrastructure development Manuel Louie B. Ferrer to the position of vice chairman, making him the second-ranking official to chairman, president and founder Edgar Saavedra. Ferrer’s promotion follows a decade of contributions to the engineering and infrastructure company. He graduated with a bachelor’s degree in […]

Megawide downplays arrest warrant: ‘Procedural ‘ lang daw

Construction and engineering firm Megawide Corp. described as purely procedural the arrest warrants issued against its directors for allegedly violating the Anti-Dummy Law in the operations of the Mactan-Cebu International Airport (MCIA). “This is a procedural step to acquire jurisdiction over the persons of the said directors, and is being addressed with the posting of […]

Saavedra gets lifeline: Megawide strikes deal with creditors

The airport subsidiary of construction and Infrastructure conglomerate Megawide Corp. of bilyonaryo Edgar Saavedra has struck a deal with its lenders to relax covenants on its P23.9 billion debt used to develop the Mactan-Cebu International Airport (MCIA).

Megawide posts Q2 profit gains

Engineering and infrastructure company Megawide Corp. bounced back in the second quarter with earnings surging 60% to P449 million due to the rebound of its construction business and strong airport operations.