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Success is for those who want it most

Economy

Dec 112013

2013 Citi-Moty Awardees honored and recognized for their exemplary performance and accomplishments as microentrepreneurs Christmas is fast approaching, and in a few days this year will end. I must say that contrary to earlier expectations, it has been a very difficult year for many of our countrymen especially those hit by quite a number of calamities. While we always try to look at the bright side, it is but a reality to deal with the present challenges and help each other recover from the emotional and physical traumas brought about by these disasters. We see the outpouring of support to those affected and it is like seeing the spirit of Christmas happening a month earlier. However, there is this one massive calamity that needs a lasting solution. It is poverty that remains pervasive in over a quarter of the country’s population. Dole outs and donations are temporary remedies. As they say, “giving a man a fish will feed him for a day, but teaching him how to fish will feed him a lifetime”. How can we help to teach a man how to fish? How can we help change a mindset of entitlement, that government and other sectors must give them everything they need? How can we empower them to take a different kind of thinking, that one can pursue his or her dream, and move up in life? How can one take action and have better control of his or her destiny? Yes, it is true the country has Read More …

Suzuki donates P3.5 M to Yolanda victims

Economy

Dec 112013

Suzuki donates P3.5 M to Yolanda victims

MANILA, Philippines – Suzuki Philippines Inc. president Hiroshi Suzuki has expressed the heartfelt sympathy of the company, and its parent-corporation Suzuki Motor Corp. of Japan [SMC Japan], to all Filipinos affected by super typhoon Yolanda. In its goal to aid relief and rehabilitation efforts, Suzuki Philippines Inc. and its employees donated a total of P1 million (of which P400,000 came from Suzuki Foundation) in the form of cash and relief goods, to various recipients such as ABS-CBN Foundation Inc. – Sagip Kapamilya, and its affected dealer employees for motorcycle and automobile. On the other hand, Suzuki Motor Corp. of Japan donated a total of ¥5 million to the ravaged areas of the typhoon through the Japan Red Cross Society. Suzuki Philippines Incorporated likewise, collaborated with ABS-CBN Foundation, Inc. – Sagip Kapamilya in delivering relief efforts to the affected areas in the Visayas Region by providing two trucks to assist in the transportation of relief goods. SMC Japan said all Suzuki group prays for the earliest possible recovery of the affected areas. Business ( Article MRec ), pagematch: 1, sectionmatch: 1

Seminar set on super memory techniques

General

Dec 112013

MANILA, Philippines – Change and improve your memory skills with a revolutionary and breakthrough program that teaches participants various ways of effectively retaining and recalling information. Yes, our brain can be taught and trained to perform at its peak! The Center for Global Best Practices is launching a pioneering two-day seminar entitled “Super Memory Techniques for Peak Performance”, scheduled on Tuesdays and Wednesdays of Jan. 21 & 22, 2014 at the Edsa Shangri-La Hotel, Mandaluyong City and on Feb. 11 & 12, 2014 at the Bellevue Hotel, Muntinlupa City, Alabang, Philippines. For details and a complete list of upcoming best practices seminars, you may log on to www.cgbp.org or call (02) 842-7148 / 59 and 556-8968 / 69; Cebu lines (032) 512-3106 or 07 or Baguio line (074) 423-5148. This program is limited to 50 seats only. You think you have a bad memory? With the right techniques, you can remember and memorize information you want and need to retain and even win a memory championship! Learn how to unlock and harness the power of your mind using memory techniques that are relevant to the day-by-day demands and processes of the human brain. You can memorize better and faster plus remember facts, concepts, to-do lists, presentations, names and faces, vital company information, events and also what you hear, read and see. Learn how to supercharge your memory in this special seminar event that will teach you techniques on how to easily organize memory impressions, greatly improve recall, and significantly boost Read More …

Xoom announces instant deposit service with BDO

Economy

Dec 112013

Xoom announces instant deposit service with BDO

Money can be deposited instantly into any BDO account, 24 hours a day, seven days a week, 365 days a year SAN FRANCISCO, CA – Xoom Corporation (NASDAQ: XOOM), a leading digital money transfer provider, and BDO, the largest bank in the Philippines, have collaborated to offer instant bank deposit to all BDO accounts. This new service allows Xoom customers to instantly send money directly into a BDO account. “Xoom is committed to providing ‘instant’ in all of our services, and we are pleased to launch instant deposit with the largest bank in the Philippines, BDO.” said Julian King, Senior Vice President of Marketing and Corporate Development for Xoom. “With our collaboration with BDO, people can rest assured that their loved ones can receive their money without waiting or having to be mindful of cut-off times. Xoom customers can send 24 hours a day, seven days a week, every day of the year from their computer, mobile phone or tablet.” In the past, people were mindful of cut-off times, arranging their schedule to get to the bank to deposit their money and not have to wait another full day. Instant deposit means no waiting on the part of either the sender or recipient, making this a fast and convenient service for all Xoom customers. Visit https://www.xoom.com/philippines for more information.

Pro-Friends to give 2 Sophie Units through Kapuso Milyonaryo

Economy

Dec 112013

Pro-Friends to give 2 Sophie Units through Kapuso Milyonaryo

Property Company of Friends, Inc. (Pro-Friends) is set to give away two Sophie Units through GMA’s network promo, Kapuso Milyonaryo Todo Pamasko. This is Pro-Friends’ way of giving back to the Filipino people in time for its Crystal Year celebration this coming February 2014. Two lucky winners will win one Sophie unit each. Sophie is a 52 sqm single-attached house on an 80 sqm lot area inside Pro-Friends flagship project, Lancaster New City in Cavite. It has three bedrooms, two toilet and baths and a provision for a one car garage. To realize the giving away of these dream homes, Pro-Friends partnered with GMA Network Inc. Aside from the two house and lot packages from Pro-Friends, GMA will be giving away more prizes weekly through Kapuso Milyonaryo. Sending of entries started last October 28 and will end on December 20, 2013. For more information about the promo, you may visit www.gmanetwork.com/KapusoMilyonaryo.

Phl bourse slumps on fears over US Fed tapering

Economy

Dec 102013

Phl bourse slumps on fears over US Fed tapering

MANILA, Philippines (Xinhua) – The Philippine stock market slipped below the 6,000-level over fears that the US Federal Reserve would cut its stimulus program. The bellwether Philippine Stock Exchange index dived by 2.04 percent, or 122.54 points, to 5,886.40, while the broader all- share index lost 1.85 percent, or 68.22 points, to 3,612.58. Trading volume reached 633.93 million shares worth P7 billion ($159.06 million) with 124 stocks declining, 31 advancing, and 36 were unchanged. All six counters were down. “At this point, nothing appears able to spur confidence in equities with the index sustaining further declines,” analyst Justino Calaycay of Accord Capital Equities Corp. said in his daily stock market comment. Calaycay said not even the 16,000-level of the Dow Jones could entice investors who are balancing the timing of the Fed’s tapering on one hand and the oncoming budget talks on the other. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The analyst noted that he had already warned that a reduction in the US stimulus program is inevitable, but he said the question on everyone’s mind is when such reduction will be effected. Nevertheless, 2TradeAsia.com said separately that the recent drop might attract some investors to the battered issues. Stocks in the 30-company index were mostly down. These include Ayala Corp., Banco de Oro Unibank, Inc., and Megaworld Corp.

Meralco raises bond offer to P18.5 B

Economy

Dec 102013

MANILA, Philippines – Manila Electric Co. (Meralco), the country’s biggest power distributor, has raised the amount of fixed rate bonds it would issue P18.5 billion from an earlier plan of P15 billion. In a disclosure to the Philippine Stock Exchange (PSE), Meralco said this was in response to the strong demand from retail investors. “Meralco, upon the request of joint issue managers and joint lead underwriters, exercised P3.5 billion in the over allotment option of its debut bond offering following the strong demand from retail investors during the offer period,” Meralco said. As such, from a base offering of P15 billion, the total 12-year and seven-year bonds to be issued on Dec. 12, 2013 will amount to P18.5 billion, making it the largest single corporate bond issuance for the year, the company added. The 2020 bonds have an interest rate of 4.375 percent while the 2025 bonds will have an interest rate of 4.875 percent. Meralco tapped BPI Capital Corp. and First Metro Investment Corp. as joint issue managers and joint lead underwriters, with RCBC Capital Corp. and Philippine Commercial Capital Inc. as participating underwriters. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Philippine Rating Services Corp. (PhilRatings), a local credit rating agency, earlier assigned an issue credit rating of PRS Aaa to Meralco’s proposed debt A PRS Aaa rating is PhilRatings’ highest score reflecting minimal credit risk. It means that the obligor’s capacity to meet its financial commitments on the obligation is extremely strong. “The rating takes into Read More …

Megaworld targets P8-B sales for RFO units this yr

Economy

Dec 102013

Megaworld targets P8-B sales for RFO units this yr

MANILA, Philippines – Megaworld Corp., the flagship property firm of tycoon Andrew L. Tan, expects to hit the P8-billion sales mark for its niche ready-for-occupancy (RFO) residential units, a top company official said. Donna V. Racho, vice-president for sales and marketing of Megaworld’s Prime Properties Investment Group, said they expect to post P8 billion in revenues this year, double the P4 billion it recorded as of July. “We are making more. Double this year,” she said. Since its launching in July 2012, the marketing division contributed roughly P4 billion in revenues to Megaworld. Prime Properties is in charge of the lease, sale and re-sale of RFO units. “There is a huge demand for RFOs. There is an untapped market,” Cacho said, adding that Megaworld created Prime Properties to cater to those that prefer quick turnover of units. Given presently robust figures, Prime Properties is on track to contributing P15 billion in consolidated revenues in the next three years. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 RFO units account for roughly five percent of the total units in all residential condominium projects of Megaworld. Cacho said Prime Properties facilitate ownership of condominium units through low downpayment and flexible payment terms. “For us to maintain [high sales], we always have the personalized after-sales service like the interior design services we have in-house,” she said. For next year, Cacho said the group will launch more creative designs and concepts that will cater to distinct tastes of RFO unit buyers. “Most of Read More …

MNTC poised to take over SCTEX

Economy

Dec 102013

MALOLOS CITY, Philippines – – Manila North Tollways Corp. (MNTC) is ready to take over operation of the 93-kilometer Subic Clark Tarlac Expressway (SCTEX). A unit of infrastructure conglomerate Metro Pacific Investment Corp. (MPIC), MNTC is also among the top-bidders that recently pre-qualified for the proposed 40-kilometer Cavite-Laguna Expressway (CALA). Ramoncito Fernandez, president and chief operating officer (CEO) of Metro Pacific Tollways Corp. said President Aquino is happy with their proposal on the takeover of the SCTEX. “We are ready anytime. We are just waiting for the formal announcement of Malacanang,” Fernandez said in an exclusive interview on the sidelines of the NLEX-SCTEX first short film contest on Monday. Part of the MNTC proposal is the 50-50 sharing of revenues and expenses in the operation of the SCTEX, between the MNTC and the government. Fernandez said that even the rehabilitation of the damaged embankment on the Pasig-Portero River will be shouldered by MNTC and the company. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 He added that part of their plan for the full operation of the SCTEX is an integrated toll collection system Earlier, MNTC offered a P20-billion concession to the government for the operation of SCTEX which remains under the management of Bases Conversion Development Authority (BCDA). Fernandez said MNTC is also among the four bidders that prequalified for the operation of the 40-kilometer CALA. He said that CALA will stretch from the Kawit section of the Cavite Expressway (Cavitex) passing through Silang town to Sta. Rosa Read More …

Mid-single digit revenue growth seen for PLDT, Globe

Economy

Dec 102013

Mid-single digit revenue growth seen for PLDT, Globe

MANILA, Philippines – London-based Fitch Ratings sees telecommunications providers in the country led by rivals Philippine Long Distance Telephone Co. (PLDT) and Ayala-led Globe Telecom Inc. – booking mid-single digit revenue growths next year. In a report entitled “2014 Outlook:Southeast Asia Telecommunications,” Fitch said strong demand for data from subscribers would help offset higher expenses for subsidies as well as declining revenues from intense competition. “More data adoption should lead to revenue rising by the mid-single-digits,” Fitch said. The international rating agency pointed out that earnings before interest, taxes, depreciation, and amortization (EBITDA) margins would continue to decline. “In the Philippines, operating EBITDA margins will continue to deteriorate due to unlimited or bucket tariff offerings, larger handset subsidies and substitution of data for voice or text services,” it added. Likewise, Fitch said lower capital expenditures would ensure free cash flow and stable credit profiles for both PLDT and Globe. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 PLDT completed a two-year P67.1 billion network modernization last year, while Globe finished its $700 million network transformation program in the first quarter of the year and is completing a $90 million information technology (IT) transformation project. PLDT booked a two percent increase in net income to P29 billion as consolidated revenues climbed two percent to P121.6 billion from January to September this year. Its consolidated EBITDA grew four percent to P59.6 billion while its consolidated free cash flow remained robust increasing by P3.2 billion to P32.9 billion. The company’s cellular subscriber Read More …

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