1. The board of Philippine Electricity Market Corp. (PEMC) has approved the transition plan for the creation of an independent market operator (IMO), paving the way for state firm to finally relinquish control of the wholesale electricity spot market (WESM). PEMC said in a statement the IMO would be incorporated as a non-profit company that is independent of the government and industry participants. PEMC said it would remain as the governing body of the spot market with a board of directors made up of industry representatives and independent members.
2. Listed Philab Holdings Corp. is investing an initial P500 million in US-based Veritas Genetics, whose whole genome sequencing technology is capable of revealing crucial details about an individual, including the risk for inherited conditions and the efficacy of certain drugs. Tom Navasero, Philab chair and CEO, said the Philippines would host a sequencing facility with Clark, Pampanga, identified as a potential location.
Notes: Did they completed merging of Philab Industries, Inc? I believe not.