Maniolas

MANILA, Philippines – Business registration for financing and lending companies has just been made easier by the Securities and Exchange Commission (SEC) in line with the Duterte administration’s anti-red tape thrust. “This would speed up the processing for the issuance of the certificates since there would be lesser documents for inspection and evaluation,” SEC chair Teresita Herbosa said. From 23 documents, those registering to operate need now only to submit 15 to the SEC’s registration and monitoring department’s (CRMD). This was after the agency consolidated requirements and dropped ones deemed redundant. Dropped documents were local police clearance; certificate of good moral character for Filipino directors and officers; work permit from the Department of Labor and Employment for foreign directors and officers and location map and copy of the lease contract or title of the building where the company is located. For financing companies applying to operate a branch office, requirements had been reduced to eight from 13 previously. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 As part of the streamlining of processes, CRMD has also modified its application form, company’s information and personal information sheets and made them easier to be filled out. Monitoring of existing players were also made easier through less requirements needed to be submitted to the agency’s corporate governance and finance department (CGFD). The department will no longer require the submission of the following documents: SEC form Q-EPS or quarterly report; certification of corporate secretary on the attendance of directors on board meetings if Read More …

MANILA, Philippines – Lopez-led Energy Development Corp. (EDC), is now supplying power to the Central Luzon State University (CLSU), the oldest and largest state university in Region 3, with green energy under the retail competition and open access (RCOA) regime. EDC said it supplies CLSU with up to 2.9 megawatts (MW) of power following a retail supply contract with EDC affiliate First Gen Energy Solutions Inc., a retail electricity supplier (RES). Under the contract, EDC provides CLSU’s 658-hectare campus with green power from its geothermal power station in Bicol, which started on June 26, 2016.  “The entire CLSU campus will benefit from environment-friendly power all year round and not rely on imported and carbon-emitting fossil fuel energy sources or stopgap supply measures that could not guarantee reliable and uninterruptible power,” EDC vice president for corporate affairs Ricky Carandang said.  “In addition, we are committed to provide CLSU with customized energy solutions, fair pricing, competent technical assistance and responsive customer support at all times,” he said. Under the RCOA scheme, contestable customers are given the choice to choose their power supplier, a scheme aimed to foster competition in the generation and supply sector. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 EDC is the country’s leading producer of geothermal energy with total installed capacity of 1,169 MW in Leyte, Negros Islands, Bicol and North Cotabato. It also owns and operates the 150-MW wind farm in Burgos, Ilocos Norte and has 60 percent equity in the 132-MW Pantabangan-Masiway hydropower plants in Nueva Ecija.

MANILA, Philippines – An internet advocacy group has criticized ongoing efforts of the Philippine Competition Commission (PCC) to probe the P70-billion buyout of the telecommunication assets of San Miguel Corp. as anti-consumer since it prevents the use of the idle 700-MHz frequency. Ramon Jose, lead convenor of the Internet Surfers Guild of the Philippines, said the 16-page preliminary statement of concerns released by the PCC’s Mergers & Acquisitions Office (MAO) distracts from the real consumer issue which is the immediate improvement of the state of the internet in the country. He said both PLDT and Globe were given a deadline by the National Telecommunications Commission (NTC) to improve their internet services as a condition for the approval of the deal and co-use of the 700-MHz and 2600-MHz frequencies.  “The government and the public will hold these telcos accountable if they fail to deliver within the given time frame. However, seeing that the PCC is hampering the telcos from using these frequencies, all the more the dream of having high speed internet will remain just a dream,” Jose said. ISGP said the role of PCC to look into the welfare of consumers and businesses must be recognized but they must not treat the SMC deal as an ordinary anti-competition case because of a bigger underlying concern which impacts consumers – that of the frustratingly slow internet speeds in the country. Jose stressed that the telecommunications sector should not be treated as an ordinary consumer industry like many of the anti-competition cases because Read More …

MANILA, Philippines – From its humble beginnings 27 years ago supplying products and services to golf courses in the country, The Turf Company has grown into a one-stop shop that provides total solutions to the management and maintenance of golf courses and sports-themed estates, resorts and recreation facilities, hospitals, commercial landscapes like retail developments, and private and residential projects. Today, it is considered a leading force in the industry with an extensive roster of prestigious clients who have remained loyal to the company through the years. “As we mark our 27th year, we express our appreciation and gratitude to our customers who believe in us and continue to patronize us. The journey of our company has been exciting and fulfilling, to say the least. We have gained milestones in our history, beating the ups and downs of the local market,” said Mario Lopez, president and COO of The Turf Company. “We owe our growth through the dedication and commitment of our team and the support of our principals. They are our valuable partners.” The Turf Company enjoys some of the most established relationships in the industry, including partnerships with world-class brands which it distributes in the country. These include the Toro brand of golf course maintenance equipment and irrigation systems which accounts for about 80 percent of the company’s turf management business. Other flagship brands that The Turf Company proudly distributes are Orec precision mowing equipment, Club Car & Texas Eagle golf cars and allied products. As The Turf Company Read More …

OUTBOUND shipments of crude coconut oil (CNO) exports dipped more than a fifth year-on-year in July as the sector reeled from one of the worst dry spells to hit the country in decades, according to industry data released on Friday.