Maniolas

MANILA, Philippines – Japanese carmaker Nissan Motor Co. Ltd. is looking to increase its market share to 10 percent over a five-year period in the Philippines given the country’s growing automotive market. Nissan Motor Co. corporate vice president Toru Hasegawa told reporters during the launch of the NP300 Navara pickup on Monday night that the company’s local unit, Nissan Philippines Inc. (NPI), which ended 2014 with a three percent share of the Philippine automotive market with sales of 7,473 units, is aiming to grow its market share to 10 percent. He noted that the Philippines offers the biggest potential for growth in the automotive market with most individuals without a car and as the economy continues to grow. In terms of car ownership, he said only 35 out of 1,000 individuals own a car in the Philippines, as compared to Thailand’s 200 out of 1,000, Malaysia’s 400 and Indonesia’s 70. “You have 100 million people…and with $3,000 GDP (gross domestic product) per capita, we are quite confident with the Philippines’ growth. We can re-start operations with a single distributor and we are in time to capture such kind of potential. We are happy with the new team, new direction and new strategy and taking 10 percent market share,” he said. While attaining the double-digit market share within five years is seen as a big challenge, NPI president and managing director Antonio Zara said the firm would like to focus on contributing to Nissan Motor Co.’s goal of achieving eight percent Read More …

MANILA, Philippines – The food processing unit of diversified conglomerate San Miguel Corp. has wrapped up its acquisition of a local biscuit manufacturer, providing the company with a new snack offering after it failed to snag British snacks maker United Biscuits last year. San Miguel PureFoods Co. Inc. told the local bourse yesterday it has completed the acquisition of Filipino-owned biscuit company Felicisimo Martinez and Co. Inc. following the fulfillment of the closing conditions of the transaction last Feb. 1. PureFoods acquired the trademarks, formulations, recipes and other intangible properties relating to the manufacturer’s La Pacita biscuit and flour-based snack business. Felicisimo Martinez and Co. has been manufacturing cookies and crackers under the La Pacita brand for over 90 years. The acquisition is expected to further boost SMC’s food and beverage portfolio which already includes Dari Crème,  Jellyace, Purefoods, Magnolia, Monterey, Star, SanMig Coffee, and Tender Juicy. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 SMC last year fell short in making it to the shortlist of bidders for United Biscuits, owner of brands such as Jaffa Cakes and Twiglets. PureFoods  is into dairy, agro, milling and processed meats businesses. The company said last week its wholly-owned subsidiary San Miguel PureFoods International Ltd. is set to gain full ownership of a Vietnamese firm engaged in feed milling, meat processing and piggery operations PureFoods currently operates 35 processing plants and 36 feed mills in the country and is looking to raise as much as P15 billion from the offering of Read More …

The government of the United States quickly sent relief for victims of super typhoon Yolanda in November 2013. USAID MANILA, Philippines – The government is looking to expand the coverage of a proposal seeking duty-free entry to the US for goods produced in areas hit by Super Typhoon Yolanda to include parts of Mindanao. Philippine Ambassador to the US Jose Cuisia Jr. told reporters that while the Philippine Recovery Investment Development Export (PRIDE) Bill was initially intended to cover only areas devastated by Yolanda, the government now wants to include parts of Mindanao to help spur economic activity in the area as well. “Initially, it was only going to be focused on areas affected by typhoon Haiyan but we decided to include Mindanao because our point is, it will also help speed up the development of Mindanao,” he said.  Through the PRIDE, the government would want goods produced or those with some of the processing done in the typhoon-hit areas and in Mindanao to be allowed to enter the US at zero duty for five years. The proposal still needs fine-tuning to specify what areas will be covered in Mindanao as some parts of the island group such as Davao and Cagayan de Oro are already considered more developed. The government will also have to get major sponsors for the bill so the proposal can be filed and pushed in the US Congress. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Cuisia said he will be talking with some members Read More …

MANILA, Philippines – A unit of International Container Terminal Services Inc. (ICTSI) of gaming and port mogul Enrique Razon has been affected by work stoppages and slowdowns in Portland, Oregon. A company statement said operations of ICTSI Oregon Inc. at the Port of Portland’s Terminal 6 has been hampered by work stoppages and slowdowns by members of the International Longshore and Warehouse Union (ILWU).  “The ILWU has escalated its efforts against ICTSI Oregon Inc. as of late, far beyond what other West Coast ports are experiencing,” the company said. ICTSI said ILWU engaged in approximately 36 work stoppages and slowdowns of various types and for varying durations during the Christmas holidays. It added that similar efforts, along with intentional labor shortages, have continued into the first month of 2015.  Last week, ILWU ordered a 12-hour work stoppage commencing at 7 a.m. and some members worked during the morning but walked off the job without notice at 1:15 p.m.  Business ( Article MRec ), pagematch: 1, sectionmatch: 1  “Work stoppages like this cause serious hardship to truckers, shippers, and the general public,” ICTSI added. The port operator pointed out that productivity at Terminal 6 continued to fall well below acceptable historical levels.  ILWU labor was producing approximately 24.8 moves per hour prior to the labor dispute that started in June 2012. However, ILWU labor productivity fell 47 percent to 13.2 moves per hour in the last quarter of 2014.  “This level of production is far below industry as well as Terminal Read More …

MANILA, Philippines – Mid-sized property developer Primex Realty Corp. is planning to beef up its business this year as it scouts for possible acquisitions and joint venture deals. The company, with its mission to develop world-class residential and commercial projects targeting the high-end and middle-class markets, said it seeks to strengthen its position as one of the top mid-sized real estate developers in the country. Karlvin L. Ang, Primex Group managing director, said Primex will embark on a more aggressive company development and progress starting this year. “We are strongly encouraged by the local and foreign investors given the strengthening of the local real estate industry,” Ang said. “We are keeping ourselves open to opportunities for joint ventures, acquisitions, and capital enhancement exercises at the soonest possible time,” he added. Ang said the company recently topped-off its 31-story residential condominium project in Salcedo Village, Makati. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Called The Stratosphere, the upscale project will offer a total of 336 residential units with floor areas ranging from 25 to 201 square meters. The tower will also have a commercial area for shopping, dining, and entertainment once it opens by the last month of the year. Primex Realty is behind horizontal developments such as the Goldendale Village, Goldendale II, and Gardenville Townhomes in Malabon City, and The Richdale in Antipolo City. Its vertical developments, meanwhile, include the Richbelt Terraces in Greenhills, Greenrich Mansion in Ortigas Center, and the Chantreuse Garden and the Philippine International Trade Read More …