Ann: Update on Major Projects, page-9

Hi Umshebi,

" Pagbilao has not "progressed" much in all the photos because we need the financing to do so."

Not too sure what photos you are referring to re the above statement. If you go back to the presentation of all projects at the AGM (27/11/14) and especially Pagbilao Power Plant and look at the photos from yesterday's update you will see that the progress at Pagbilao has been quite substantial.
For starters:
Majority of slabs completed.
Unit 1 Gas turbine and Generator in place on the plinths.
Structural steel for unit 1 looks to be 90% complete.
Unit 2 slab near completion.
Unit 2 Turbine and Generator ready to be placed onto plinth.

I would say that a lot of construction work has been carried out over the past 3months.

We know that they require additional monies to complete the "full" 650mw power station. My belief is that they have sufficient money to complete the first 200mw and also the 2nd 200mw.

Looking forward to any further comments re either Sengkang or Pagbilao.