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Pain before gain for SMC-led Naia group

By Inquirer - 9 months ago
MANILA, Philippines  —The consortium led by San Miguel Corp. (SMC) may have a hard time turning in profits during the first five to seven years of upgrading, operating and maintaining Ninoy Aquino International Airport (Naia) due to a large revenue share commitment to the government, according to research and market insights firm CreditSights. The unit

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