Mrc Allied, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2020
June 30, 2020 at 04:44 am EDT
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MRC Allied, Inc. announced earnings results for the first quarter ended March 31, 2020. For the first quarter, the company announced sales was PHP 154,673 compared to PHP 0 a year ago. Net loss was PHP 7.580 million compared to PHP 7.829 million a year ago. Basic loss per share was PHP 0.001 compared to PHP 0.001 a year ago.
MRC Allied, Inc. is a Philippines-based holding company. The Company, through Menlo Renewable Energy Corporation (MREN), operates 550 kilowatt-power (kWp) solar photovoltaic (PV) rooftop systems for a rice milling plant in Northern Luzon. It has a 15% ownership in Sulu Electric Power and Light (Philippines) Inc., which owns and operates a 50-megawatt solar project located in Palo, Leyte. The principal asset of the Company consists of two land banks. The first is a 160-hectare industrial estate in Naga City, Cebu and the second consists of 700 hectares of raw land in San Isidro Municipality, Leyte, known as Amihan Woodlands Township (AWT). Located thirty-five (35) kilometers away from the Mactan International Airport, the industrial estate in Naga City, known as the New Cebu Township One (NCTO). The Company's subsidiaries include MRC Tampakan Mining Corporation (MRC Tampakan), MRC Surigao Mines, Inc. (MRC Surigao) and Makrubber Corporation (Makrubber).
MRC ALLIED, INC. 
