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Wednesday, May 28, 2008 |
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Meralco board defies SEC
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Voting pushes ahead despite 11th-hour restraining
order
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The Manila Electric Co. (Meralco) pushed through
with the election of its board members despite stiff resistance from
the chief of the state pension fund who had moved but failed to stop
the proceedings.
In a grinding stockholders’ meeting on Tuesday
that stretched from morning till evening at the Meralco Theater in
the company’s compound on Ortigas Avenue in Pasig City, the
Lopez-controlled Meralco board rejected an order from the Securities
and Exchange Commission (SEC) that sought to restrain it from
counting proxy votes solicited on its behalf.
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O T H E R R E P O R T S
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SEC intervention may scare
away foreign investors
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The intervention of the Securities and Exchange
Commission (SEC) in the boardroom battle for the Manila Electric Co.
(Meralco) may scare away investors from the Philippines, analysts
said Tuesday.
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Executive doubtful of restraining order
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The stockholders’ meeting of the Manila
Electric Co. (Meralco) pushed ahead because the Lopez-controlled
management questioned the validity of the cease and desist order
issued by the Securities and Exchange Commission (SEC).
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Garcia discloses gameplan
when he takes over utility
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It’s not over until it’s over for the chief
of the government pension fund.
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Police suspends lawmen in alleged rubout
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Police officers and personnel involved in an alleged rubout of
suspected bank robbers were suspended Tuesday by Director General
Avelino Razon Jr., the chief of the Philippine National Police, to
give way to a probe of the incident.
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Filipino golfer qualifies for ‘08 US Open
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TOKYO: Filipino golfer Artemio Murakami was celebrating on Tuesday
after earning his ticket to this year’s US Open, where he will
make his Majors debut.
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Meralco officials face contempt charges
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Officials of the Manila Electric Co. (Meralco) could be cited for
contempt if they disregard the restraining order issued by the
Securities and Exchange Commission (SEC), senators said Tuesday.
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GEMS OF HISTORY
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Manila Road in Shanghai
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The Philippines is on the map of Shanghai
literally and figuratively. Filipino musicians and artists have been
known in Shanghai even before the war. But literally, there is a
street in Shanghai called Luzon Road (formerly named Manila Road).
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