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MSC also put up Philippine Petroleum Corporation to make lubricating oil and bought a controlling stake in PCIBank.īut in September 1972, a dictator imposed martial law and the company suffered many reverses. It went into the pipeline business with Meralco Securities Industrial Corporation the transformer manufacturing business with Philec and the construction business with Philippine Engineering and Construction Corporation. By 1972, it was worth P2.8 B.īut that wasn’t all. By 1969, Meralco was the largest corporation in the country, worth over P1 billion. Meralco even got better credit terms from international banks than the Philippine government itself. Meralco's growth in the 1960s was financed solely on its superior credit standing in international capital markets, without relying on government guarantees. Meralco's rates were among the lowest in the world. In the 1960s, Meralco was building a new power plant every 18 months, and expanded its generating capacity fivefold, from 300,000 kw to 1.5 million kw in 10 years. In January 1962, the corporation made the historic purchase of the Manila Electric Company (Meralco) from its American owners, General Public Utilities. On June 30, 1961, Don Eugenio Lopez led a group of intrepid Filipino entrepreneurs to create the forerunner of First Philippine Holdings – Meralco Securities Corporation (MSC). Sources: CoinDesk (Bitcoin), Kraken (all other cryptocurrencies)Ĭalendars and Economy: 'Actual' numbers are added to the table after economic reports are released.From the very beginning, First Philippine Holdings has always managed to be both profitable and good for the Filipino people. Lipper shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.Ĭryptocurrencies: Cryptocurrency quotes are updated in real-time. Any copying, republication or redistribution of Lipper content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Lipper. Mutual Funds & ETFs: All of the mutual fund and ETF information contained in this display, with the exception of the current price and price history, was supplied by Lipper, A Refinitiv Company, subject to the following: Copyright 2019© Refinitiv. Data may be intentionally delayed pursuant to supplier requirements. FactSet (a) does not make any express or implied warranties of any kind regarding the data, including, without limitation, any warranty of merchantability or fitness for a particular purpose or use and (b) shall not be liable for any errors, incompleteness, interruption or delay, action taken in reliance on any data, or for any damages resulting therefrom. Source: FactSetĭata are provided 'as is' for informational purposes only and are not intended for trading purposes. Change value during other periods is calculated as the difference between the last trade and the most recent settle. Change value during the period between open outcry settle and the commencement of the next day's trading is calculated as the difference between the last trade and the prior day's settle. Sources: FactSet, Tullett PrebonĬommodities & Futures: Futures prices are delayed at least 10 minutes as per exchange requirements. Sources: FactSet, Tullett PrebonĬurrencies: Currency quotes are updated in real-time. Sources: FactSet, Dow Jonesīonds: Bond quotes are updated in real-time. Sources: FactSet, Dow JonesĮTF Movers: Includes ETFs & ETNs with volume of at least 50,000. Stock Movers: Gainers, decliners and most actives market activity tables are a combination of NYSE, Nasdaq, NYSE American and NYSE Arca listings. Overview page represent trading in all U.S. Indexes: Index quotes may be real-time or delayed as per exchange requirements refer to time stamps for information on any delays.

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