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MarketScreener Homepage  >  Equities  >  PHILIPPINE STOCK EXCHANGE, INC.  >  Manila Electric Company    MER   PHY5764J1483

MANILA ELECTRIC COMPANY

(MER)
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Manila Electric : Meralco unit, Korea partner to bring new rail technology to the Philippines

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10/29/2018 | 01:32pm EDT

Meralco unit, Korea partner to bring new rail technology to the Philippines !-- -- (The Philippine Star) - October 30, 2018 - 12:00amMANILA, PhilippinesMRAIL Inc., a subsidiary of power distribution giant Manila Electric Co.

, is teaming up with Seoul Metro to bring the latest technology to the country's railway system. MRAIL said it was appointed by Seoul Metro to exclusively introduce the ballast to slab (B2S) track conversion solution to the Philippine railway system.

The B2S replaces ballast tracks with concrete slab tracks which, according to MRAIL, is proven to enhance safety and minimize rail defects. The system is also expected to increase the service cycle of rails which will lead to improved passenger experience.

Seoul Metro, the OandM of the Seoul Metro system, pioneered in 2012 a new system of converting its ballasted tracks to slab tracks without disrupting revenue operations on its existing lines. The system proved to be a game changer to the metro systems as it eliminated the periodic maintenance activities for the ballasted tracks as well as the systematic replacements of ballasts.

The innovation generated huge savings in operation for Seoul Metro and increased its train operations efficiency as train vibrations were significantly reduced. Today, MRAIL said Seoul Metro is migrating all its ballasted tracks to the slab track configuration.

MRAIL, whose main focus is to support the Philippine railway industry, seeks to be a leader in rail transport by providing safe, reliable, innovative and world-class services. Through a joint-venture, Meralco established in 2009 MIESCORRAIL, which was tasked to design, build, and improve various railway systems in the country.

MIESCORRAIL was changed to MRAIL in 2015.

© Pakistan Press International, source Asianet-Pakistan

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Financials (PHP)
Sales 2019 314 B
EBIT 2019 30 291 M
Net income 2019 21 483 M
Finance 2019 20 335 M
Yield 2019 4,29%
P/E ratio 2019 19,89
P/E ratio 2020 19,16
EV / Sales 2019 1,33x
EV / Sales 2020 1,29x
Capitalization 436 B
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Mean consensus HOLD
Number of Analysts 14
Average target price 347  PHP
Spread / Average Target -10%
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Managers
NameTitle
Oscar S. Reyes President, CEO & Executive Director
Manuel Velez Pangilinan Chairman
Betty C. Siy-Yap Chief Finance Officer & Senior Vice President
Ray Celis Espinosa Non-Executive Director & Deputy CEO
Manuel M. Lopez Non-Executive Director
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