- Metro Pacific Chair Hopes To Complete Philippine Tollways Merger And IPO This Year
- Maine Unveils New Standard License Plate Design
- TRB Webinar Series On Impaired Driving Issues Continues Thursday
- These are just some of the toll industry developments TRN is following.
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Metro Pacific Chair Hopes To Complete Philippine Tollways Merger And IPO This Year
The Philippine Star reports, Metro Pacific Investments Corporation ( MPIC) chair and president Manuel Pangilinan indicated yesterday he is hopeful “there would be no delays in the planned listing of a mega tollways joint venture company with San Miguel Corp. (SMC). In an interview, Pangilinan said he expects the initial public offering of the potential merged entity of Metro Pacific Tollways Corp. (MPTC) and the toll road business of Ramon S. Ang’s. SMC to take place this 2024. ‘It can be done (this year) because this business is not complex. With the commitment of both parties, I don’t see why we cannot do it within the year,’ Pangilinan said.” In additional comments about the merger process, he noted that government regulatory approvals haven’t yet been proposed, but the companies are currently exchanging information about their respective assets.
Philippine Daily Inquirer notes in its coverage of this story that a “critical point” of the merger negotiations involves inclusion of MPTC’s Indonesian tollway assets in the deal. A final valuation “depends on whether SMC accepts us bringing in the Indonesia operations or not. The size of our Indonesia operations alone is $1 billion,” MPTC president Rogelio Singson recently told the newspaper. One reason MPTC is pushing the merger and IPO is that it needs equity to continue an expansion in Indonesia, where its operations may soon outgrow those in the Philippines.
Bloomberg (subscription required for full access) also covers this story.
Acquisitions and Mergers Indonesia Metro Pacific Tollways Corporation Philippines San Miguel Corporation (South Luzon Tollway)Maine Unveils New Standard License Plate Design
News Center Maine reports, Maine’s secretary of state, whose department includes the motor vehicle licensing agency, yesterday unveiled a new general-issue license plate design. The redesign was mandated by 2023 legislation that addressed concerns about the readability of current plates by law enforcement officers and electronic tolling equipment. The state’s current tags were designed 25 years ago and bear an image of the state bird. “The new design is based on the 1901 Maine flag, featuring a navy star and a dark green pine tree.” The motor vehicle bureau will begin issuing redesigned plates in May 2025. By law, more than 900,000 replacements must be completed over the following year. Nova Scotia-based Waldale Manufacturing received the contract to manufacture the new plates.
ETC Systems Maine Maine Department of Transportation (MDOT) Maine Turnpike AuthorityTRB Webinar Series On Impaired Driving Issues Continues Thursday
The Transportation Research Board (TRB) will host a 90-minute webinar on Thursday afternoon, February 29, exploring the new technology, tools and practices in use to address the problem of impaired driving. “Presenters will discuss current issues related to driving under the influence (DUI) adjudication and impairment detection and how these processes can be improved. Presenters will also identify new and emerging ideas to address impaired driving on our roadways. This is the third webinar in a series on how the impaired driving paradigm is changing. The first webinar was Safe System Approach to Substance Abuse. The second webinar was Societal Perceptions of Impaired Driving and Strategies for Law Enforcement.”
Crime Beat Economic & Social Considerations Affecting Transportation Highway-Tunnel-Bridge Safety (Includes COVID-19 Impacts) Transportation Research BoardThese are just some of the toll industry developments TRN is following.
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