SMC’s debt scourge
With a pile of obligations, SMC Global Power “could soon face fundraising urgency”, according to Bloomberg Intelligence.
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Daily TribuneWith a pile of obligations, SMC Global Power “could soon face fundraising urgency”, according to Bloomberg Intelligence.
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The Philippines has 36.5 million tons per annum of LNG import terminal capacity under development, along with 29.9 gigawatts of gas-fired power projects.
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Residents and environmental groups are apprehensive as they said the project involves open-pit mining but was approved by the local provincial board as ‘strip…
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The law bars new sources of pollutants in non-attainment areas. The Batangas project of SMC’s EERI and Linseed is considered by environment activists as an…
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Greed should be prevented from destroying the riches of nature that generations would benefit from.
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The cavalier attitude bodes ill for its ability to meet minimum safety, health, and environmental standards when it starts operating, the petitioners added.
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Proponents applied for conversion on 26 May 2022, but an inspection by the agency showed the development started even before the application was approved.
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The statement to soothe the concerns of its creditors was an offshoot of a detrimental review of economic think-tank Bloomberg International.
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The revelation of ERC indicated that SMC will go to great lengths to squeeze out from a tight financial situation of its own doing.
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SMC should be compelled to perform according to the PSA, or Meralco should seek damages if the former fails to do so.
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