{"id":328978,"date":"2024-08-14T17:10:34","date_gmt":"2024-08-14T09:10:34","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=328978"},"modified":"2024-08-14T17:42:30","modified_gmt":"2024-08-14T09:42:30","slug":"trade-the-news-meralcos-25-year-franchise-extension-expected-to-pass-smoothly","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-meralcos-25-year-franchise-extension-expected-to-pass-smoothly\/","title":{"rendered":"Trade the News: Meralco’s 25-year franchise extension expected to pass \u2018smoothly\u2019"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>Manila Electric Co. (Meralco)<\/td><\/tr>
Stock Code<\/strong><\/td>MER<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Hold<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 351.25<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

The House of Representatives is set to approve the extension of Meralco’s franchise following its endorsement by the House Committee on Legislative Franchises, a key lawmaker said on Tuesday.<\/p>\n\n\n\n

According to Albay 2nd District Rep. Joey Salceda, the bill \u2014 which seeks to grant Meralco a fresh 25-year franchise \u2014 is expected to “sail smoothly” through the legislative process.<\/p>\n\n\n\n

The committee’s approval on Monday reflects widespread support, both from lawmakers and influential business organizations.<\/p>\n\n\n\n

Committee chairman Rep. Gustavo Tambunting noted the backing of nearly two dozen business groups, including international chambers of commerce, emphasizing Meralco\u2019s pivotal role in servicing an area that generates over half of the Philippines’ GDP.<\/p>\n\n\n\n

Salceda, who initially filed the renewal bill, highlighted Meralco\u2019s compliance with regulatory standards and its significant contribution to the economy.<\/p>\n\n\n\n

He cited data indicating that replicating Meralco\u2019s performance across the country could add over P200 billion to the economy.<\/p>\n\n\n\n

Other key supporters, including former House Speaker Lord Allan Jay Velasco and Rep. Rufus Rodriguez, echoed Salceda’s sentiments.<\/p>\n\n\n\n

They urged swift passage of the bill, underscoring Meralco\u2019s reliable service and the exhaustive discussions already held in committee hearings.<\/p>\n\n\n\n

The bill is expected to move quickly through the House floor, with little opposition anticipated.<\/p>\n\n\n\n

(News excerpt from Insider PH<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-328978","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/328978","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=328978"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/328978\/revisions"}],"predecessor-version":[{"id":328980,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/328978\/revisions\/328980"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=328978"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=328978"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=328978"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}