Maniolas

MANILA, Philippines – The Duterte administration is taking a second look on how to implement the long-delayed P10.528-billion Batangas-Manila natural gas pipeline project, a ranking government official said yesterday. The Bat-Man pipeline project is among the six and the only energy-related public-private partnership (PPP) projects up for approval of the National Economic and Development Authority (NEDA) board, PPP Center executive director Ferdinand Pecson said in his presentation during The Philippines Energy and Infrastructure Finance Forum 2016 yesterday. Pecson said the project is now being reviewed by the Department of Energy (DOE). “The Bat-Man project is not submitted for the NEDA board meeting this month,” he said. “It is being reviewed whether it will continue in the same form and structure as it is today. The DOE, I suppose with the new administration, is having a second look at this.” During the previous administration, the DOE was eyeing other options to implement the project due to off-taker concerns. In January this year, former socioeconomic secretary Arsenio Balisacan said the DOE had asked for an opportunity to present to the Cabinet-level NEDA board the issues and other options to implement the Bat-Man pipeline. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 When asked whether the Bat-Man project could be approved this year, Pecson said it will be included in the next NEDA board meeting as soon as the DOE completes its review. “That depends on when they would submit it finally for NEDA board approval. it’s still with the DOE,” he Read More …

In an interview during yesterday’s opening ceremony, All Value chairman Manuel B. Villar Jr. said two more branches were expected to open before the end of the year. Plans are underway to build four to five more branches in 2017. STAR/File photo Sta. Rosa, Laguna, Philippines – The Villar Group, through its retail arm All Value Holdings Corp., is investing an additional P1.4 billion to fund the continued expansion of its All Day supermarket chain. The company opened yesterday its third branch, located in Sta. Rosa, Laguna. This followed the opening of the first two stores in Vista Mall in Taguig and Starmall Edsa-Shaw. In an interview during yesterday’s opening ceremony, All Value chairman Manuel B. Villar Jr. said two more branches were expected to open before the end of the year. Plans are underway to build four to five more branches in 2017. “Each branch may cost us about P180 million or less,” Villar told reporters. He said the sites of All Day Supermarkets are leased from Vista Malls of sister company Vista Land & Lifescapes, while the inventory is largely consigned by suppliers. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Villar said the fourth branch, located in Vista Mall Bataan would be even bigger. It is targeted for opening this month. The fifth and last outlet to open this year will be in Vista City in Daang Hari. Target date for the opening is December. All five stores will have a total floor area of about Read More …

Renting out a property is a great income opportunity. clncy Project/CC BY 2.0 MANILA, Philippines – Renting out a house or a condo makes sense because it is a great way to earn good passive income. Who wouldn’t want to earn money without practically doing that much? It’s not also that difficult. For one, investing in a property has become easy on the pocket with competitive prices and attractive payment schemes that real estate developers are offering in the market these days. It’s also convenient to advertise a rental property. You can just simply go online and get in touch with a property listing website where people can easily find your property. But there are things you need to consider as you get started with this business. Here are a few: 1. Are you ready to be a landlord? While earning passively through a rental property often looks easy, being a landlord is not as simple. You will have responsibilities and need to carve out some time from your routine to fulfill your obligations. As a landlord, your responsibilities include maintaining your property, building rapport with your tenants, arranging the paperwork and collecting payments. But if you don’t have enough time to take care of these things but still want to make money from a rental property, consider having someone—a family member, relative, friend or a professional property manager—take care of the business for you. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 2. Does your property look good? Read More …

MANILA, Philippines – The Philippines has reiterated its commitment to return to Bangladesh money illegally channeled to the local financial system last February. While underscoring the “100-percent support” of the entire government, Finance Secretary Carlos Dominguez told Bangladesh Ambassador John Gomes legal processes should be followed in the return of the $81 million stolen from Bangladesh last February. The two met in Makati City recently, together with representatives from the central bank, the Anti-Money Laundering Council (AMLC) and the departments of Foreign Affairs and Justice. “We want to assure you that the Philippine government, including all its instrumentalities,… are 100 percent behind you, that we want to assure you that we will do everything that we can to assist you,” Dominguez was quoted as saying in a statement. “We have, however, a legal system that has to be respected and this system has to be followed so that whatever claim you are awarded, nobody can challenge that in the future,” he added. For now, the government is focused on securing the $15 million surrendered in two batches by casino operator Kim Wong, who was part of a web of personalities where the money passed through. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Wong gave up the money to the Bangko Sentral ng Pilipinas (BSP), which is keeping it while awaiting a court ruling that will award the money to the government. A petition has already been filed by the DOJ before the Manila Regional Trial Court, while the Read More …