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The Manila Electric Company (PSE: MER), also known as Meralco (/ m ɜːr ɑː l k oʊ /, Tagalog: [mɛˈɾalkɔ], stylized in uppercase), is an electric power distribution company in the Philippines. It is Metro Manila 's only electric power distributor and holds the power distribution franchise for 39 cities and 72 municipalities, including ...
The Bank of the Philippine Islands (Filipino: Bangko ng Kapuluang Pilipinas; Spanish: Banco de las Islas Filipinas, commonly known as BPI; PSE: BPI) is a universal bank in the Philippines. It is the first bank in both the Philippines and Southeast Asia .
Meralco – Manila Electric Railway Company; Metrobank – Metropolitan Bank and Trust Company; MORE – MORE Electric and Power Corporation; NAPOCOR/NPC – National Power Corporation; NGCP - National Grid Corporation of the Philippines; PAL – Philippine Airlines; PANTELCO – Panay Telephone Corporation; PBB – Philippine Business Bank
Meralco is an electric power distribution company in the Philippines serving the Greater Manila Area. Meralco may also refer to: Sports
Christian Santos Monsod is a Filipino lawyer who served as chair of the Commission on Elections (COMELEC). He was one of the framers of the 1987 Constitution of the Philippines . [ 1 ] He is the founder and honorary chair of the Legal Network for Truthful Elections (LENTE) and pioneer of the National Citizens' Movement for Free Elections (NAMFREL).
Meralco was so large that many Filipino businessmen believed that its acquisition by a Filipino was nearly impossible. By 1960, Meralco was worth $66 million and served more than 360,000 customers. In 1961, Fortune Magazine cited that the company's operations and equipment were comparable to the best US power firms. [citation needed]
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Romualdez managed to create a loophole in the terms of the agreement to prevent further payments. MERALCO was purchased through the Meralco Foundation, a private organization owned and managed by Romuladez. As soon as he acquired MERALCO, electric rates were increased by 100% and continually increased throughout his management. [2]