Philippine Stock Report #13: Semirara Mining and Power Corporation (SCC)
HI Everyone!
Today, we'll be discussing a company from the Mining & OIl Industry since the 1980s. Semirara Mining & Power Corporation (SCC) is the largest coal producer in the Philippines, and the only power producer in the country that owns and mines its own fuel source (coal).
SCC is engaged in thermal coal extraction and power production.
The Company is also a subsidiary of DMCI Holdings, Inc. DMCI Hi currently holds 56% ownership of SCC.
The Company generates its revenues through the production and sale of sub-bituminous coal. Currently, SCC has existing coal supply contracts with its own power subsidiaries as well as other power plants and cement manufacturers.
1. Basic Information:
Semirara Mining and Power Corporation (SCC)
Sector: Mining and Oil
2. The Company's History:
February 26, 1980: Semirara Mining and Power Corporation (SCC) was incorporated to explore, develop, and mine the coal resources in Semirara Island, Caluya, Antique Province.
November 28, 1983: The Company's listing date.
1988: The Company struggled through low productibity, operational inefficienciesm debt restructuring, falling coal prices, and the Philippine peso devaluation.
April 1997: DMCI Holdings, Inc. (DMCI HI) acquired a 40% interest in SCC's Common Shares, including PHP2.5 Billion of its outstanding loans.
1998: DMCI HI agreed to a debt-to-equity conversion and raising its total interest in SCC to 74%.
August 1999: DMCI appointed a new management team composed of local and expatriate stadd. Soon After, it changed its name to Semirara Mining Corporation.
2009: DMCI HI acquired the 600 MW coal-fired power plants from the NPC and assigned its rights over the plant to SCC, turning the company into the only vertically integrated power generation enterprise in the country.
August 18, 2014: Semirara Mining Corporation changed its name to the Semirara Mining and Power Corporation after successfully bidding for the 600 megawatt Calaca power plant of the National Power Corporation (NPC).
December 31, 2017: SCC has six wholly-owned subsidiaries, namely, SEM-Calaca Power Corporation; SEM-Cal Industrial Park Developers Inc.; Southwest Luzon Power Generation Corporation; Semirara Claystone Inc.; Semirara Energy Utilities Inc.; and Southeast Luzon Power Generation Corporation.
<Here's the Company's Stock Data for the past year 2017-2018>
<The Company's Stock Data since 2008 to 2018>
3. Present Stock (2018/10/17)
For the fiscal year ended: Dec. 31, 2017
Currency: Philippine Peso (PHP)
4. Chairman of the Board
Chairman: Isidro A. Consunji
Nationality: Filipino
Age: 69
Education:
- Bachelor of Science in Civil Engineering from University of the Philippines
- Master's Degree in Business Economics from Center for Research & Communication
- Business Management from Asian Institute of Management
- Advanced Management from IESE School, Barcelona, Spain.
Background:
- Executive Director, Chairman and President of DMCI Holdings, Inc.
- Non-Executive Director of Crown Equities, Inc.
- Non-Executive Director of Atlas Consolidated Mining and Development Corp.
- Chairman & CEO of SEM-Calaca Power Corporation, Semirara Claystone Inc., Semirara Energy Utilities Inc., SEM-Balayan Power Generation Corporation, Southwest Luzon Power Generation Corporation, SEM-Cal Industrial Park Developers Inc., and DMCI Mining Corporation
- Chariman of St. Raphael Power Generation Corporation, and ENK Plc (U.K.)
- Vice-Chairman of DMCI Masbate Power Corporation
- Director of Dacon Corporation, M&S Company Inc., DMCI Projects Dvelopers, Inc., Toledo Mining Corporation Plc (U.K.), Semirara Cement Corporation, Maynilad Water Services, Private Infra Dev. Corp., and SEM-Calaca Res Corporation
GROUP CORPORATE STRUCTURE
SEMIRARA MINING AND POWER CORPORATION AND SUBSIDIARIES
SHAREHOLDINGS STRUCTURE
5. News
April 6, 2018
26 PHL firms among Asia Pacific's fastest growing companies
http://www.semiraramining.com/news/content/News_Articles/117
