Maniolas

MANILA, Philippines – Robinsons Retail Holdings Inc. (RRHI) spent P3.53 billion in the first half or more than two-thirds of the full year budget as as it continues to grow its business. As of the end of June, Robinsons Retail had 1,527 stores while its gross floor area increased by 10.7 percent to about 998,000 square meters. Including The Generic Pharmacy’s franchised store portfolio of 1,878, the group’s total store network hit 3,405. RRHI reported an 8.6 percent rise in its first half earnings to P2 billion while core earnings went up 13.5 percent to P1.75 billion. In the second quarter, RRHI’s net income climbed 14.4 percent to P1.24 billion while core net earnings rose 16.3 percent to P1.05 billion. Consolidated net sales for the second quarter expanded by 18.5 percent to P25.64 billion due to the sustained high single-digit same-store sales growth, sales contribution of the new stores as well as sales from Savers Appliances (acquired in September last year) and The Generics Pharmacy (acquired in May). Business ( Article MRec ), pagematch: 1, sectionmatch: 1 For the first six months, net sales went up 16.9 percent to P48.33 billion, partly due to the successful and peaceful national elections in May, lower commodity prices and stable interest rate environment. RRHI said its balance sheet remained solid with cash, cash equivalents and liquid marketable securities amounting to P27.65 billion as of the end of the first half.

THE Philippines is a “rare safe haven” for investors, Finance Secretary Carlos G. Dominguez III said, adding that Mindanao, as the focus of the new government’s economic strategy, will be particularly attractive for businesses.

“Son, we live in a world that has walls, and those walls have to be guarded by men with guns. I have a greater responsibility than you could possibly fathom. You weep for Santiago, and you curse the Marines. You have that luxury of not knowing what I know. That Santiago’s death, while tragic, probably saved lives. And my existence, while grotesque to you, saves lives. … I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the blanket of the very freedom that I provide, and then questions the manner in which I provide it. I would rather you just said thank you, and went on your way, Otherwise, I suggest you pick up a weapon, and stand a post. Either way, I don’t give a damn what you think you are entitled to.” These are strong lines from a film (A Few Good Men) that summarize the fiction. These might as well have been the lines today by the most familiar figure in the land that summarize a policy in real life. I am not suggesting the hero-or-saint dilemma. It is rather comforting and disturbing. The benefits are real, but the pain is absolute. If we cheer, do we encourage it? Or if we clam up, do we encourage it by silence? It is inspiring, too refreshing to see clean-up drives in different localities, the marketplaces and towns, following the tone from the top. Finally, a leader that makes Read More …

The COE is a requirement for the issuance of Certificate of Compliance (COC) by the Energy Regulatory Commission (ERC). It is a prerequisite before any generating company can start operating its power project. File Photo MANILA, Philippines – The Department of Energy (DOE) has issued certificates of endorsements (COE) to 49 power projects as of the end of July this year, government data showed. The COE is a requirement for the issuance of Certificate of Compliance (COC) by the Energy Regulatory Commission (ERC). It is a prerequisite before any generating company can start operating its power project. Data showed there are 26 renewable energy (RE) projects cleared with COEs. Of these RE projects, there were 22 solar farms, the largest of which is the 100-megawatt Sta. Rita solar farm of Jobin-Sqm Inc. in Subic Freeport Zone in Zambales. The list also includes the 63.3-MW solar farm of Solar Philippines Calatagan Corp. in Batangas, the 50-MW solar farm of Petro Solar Corp. in Tarlac and the 50-MW solar project of Sulu Electric Power and Light (Phils) Inc. in Palo, Leyte. The DOE granted COEs to two hydropower plants – the eight-MW hydroelectric power plant of Mindanao Energy Systems Inc. in Claveria, Misamis Oriental and the one-MW hydropower project of Mindoro Grid Corp. in San Teodoro, Oriental Mindoro. Business ( Article MRec ), pagematch: 1, sectionmatch: 1

MANILA, Philippines – Chemical distribution firm SBS Philippines Corp. saw its net income surge to P910.7 million in the first half, buoyed by one-time gains from the disposal of its real estate investments. Net sales reached P517 million, up 12.8 percent year on year. Operating profit rose 18.9 percent to P113 million, driven by organic revenue growth, significant drop in finance charges on account of substantial debt pay downs, lowered operating expenses and higher income contributions from non-core assets. The strong sales performance was attributed to strong volume growth in cosmetics and pharmaceutical raw materials, feeds, and industrial chemical segments as SBS delivered on its strategy to increase market penetration and grow its business volumes through increased sales activities in these segments. Food ingredients continue to account for the bulk of the company’s sales at 35 percent, followed by industrial (32 percent), feeds (22 percent), and raw materials pharmaceuticals and cosmetics (11 percent). SBS president and CEO Gerry Tan said robust economic growth also contributed to the firm’s strong performance. Business ( Article MRec ), pagematch: 1, sectionmatch: 1  “The robust growth in the Philippine economy and the greater reliance of chemical manufacturers on third party distribution channels to access local customers continue to support our double-digit growth momentum for the year,” Tan said. Tan said the company was able to pare down net debt to P373.7 million in the first half as the excess cash was used to reduce debt consisting mainly of short-term liabilities. Necisto Sytengco, SBS chairman Read More …