http://www.malaya.com.ph/jul24/busi3.htm

Macro Asia Corp. last Friday announced that it would start preparing next month to mine nickel in Brooke’s Point, Palawan.

Joseph Chua, MacroAsia president and chief executive officer told stockholders the company has secured its first Mineral Production Sharing Agreement (MPSA) from the government.
“We will do first the high profile exploration. We will find out how much is the value of our property,” he added.

Chua said they have no partner in the said mining project.

For the local government of Palawan, Chua said the company committed to spend for medical and schooling of some local residents. He said they allocated about P4 million for the 100 scholars and medical needs.

In 2005, MAC’s consolidated revenue reached P809 million up 12 percent. The company projected 10 percent growth this year.

Corresponding net income increased by 18 percent to P137 million. Equity in net income of associates increased dramatically by 55 percent to P119 million in 2005 in contract to 2004’s 32 percent drop.

Revenues from the aviation, in-flight catering services went up 20 percent from P453 million to P545 million while total assets have risen to P2.3 billion or an increase of 6 percent, only a 0.25 percent increase in consolidated liabilities was reported.

Total equity stands at P2.034 billion.