THE 23-megawatt (MW) plant of San Carlos Solar Energy, Inc. (Sacasol) has been certified under the feed-in tariff (FIT) system, allowing the company to dispatch the plant’s output to the grid at a premium rate.
Mar 202015
Mar 202015
CUSTOMS offices at the country’s biggest ports will be open for business during some of the major holidays next month, the Bureau of Customs said on Friday in an advisory.
Mar 202015
MANILA, Philippines – The country’s balance of payments position continued to surge to an almost two-year high in February, the Bangko Sentral ng Pilipinas reported yesterday. A BOP surplus of $985 million was recorded last month, up 186 percent from the $345 million seen in February last year. This is the highest monthly surplus recorded following the $1.099-billion surplus posted in July 2013. The BOP is a summary of a country’s transactions with the rest of the world. Components include trade, foreign direct and portfolio investments, and even remittances from Filipinos overseas. A surplus means more money went into the economy during the period, while a deficit means otherwise. The February figure brought the two-month tally to a surplus of $1.121 billion, a reversal of the $4.135-billion deficit in the same period last year. The BOP posted in a deficit in 2014 after nine consecutive years of being in surplus. Central bank data showed a BOP deficit of $2.879 billion for last year, a turnaround from the $5.085-billion surplus in 2013. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The deficit was blamed to the normalization of policy in the US especially as this resulted in a reallocation of assets among markets and economies. The US Federal Reserve in January last year started reducing its massive monthly purchases, ending the stimulus in October. Analysts now expect the US central bank to begin increasing rates by the middle of this year. For this year, the BSP has forecast the BOP Read More …
Mar 202015
MANILA, Philippines – Philex Mining Corporation may be able to extend the lifespan of its Padcal copper-gold mine in Benguet after additional mineral resources were found. According to the Pangilinan-led firm, an additional 110.9 million tons of mineral resources were found within 800 to 600 meter levels (ML) in its tenement. The resource volume corresponds to metal content of 473 million pounds of copper and 1.342 million ounces of gold. “The Padcal mine’s measured and indicated resources at 800-600 ML is expected to augment the mineable inventory of the company and may likely extend the mine’s life beyond 2020,” said company president Eulalio Austin Jr. “We look forward to the next two years of exploration within the vicinity of the Padcal mine to further identify additional resources and increase the company’s current mineral inventory,” he added. The completion of the new mineral resource estimate increases the Padcal mine’s total resources 71 percent to 267.7 million tons as of the end of 2014. This also raises the contained metals to 1.23 billion pounds of copper (by 62 percent) and 3.24 ounces of gold (by 71 percent). Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The mineral resources indicated in the estimate, however, is not an indication of actual production for gold and copper but are estimations based on drilling results. Philex registered a 125 percent increase in its net income in 2014 on improved revenues brought about by higher number of operating days and cost streamlining. The company earlier announced Read More …
Mar 202015
MANILA, Philippines – The local unit of Japan’s Mitsubishi Motors Corp. plans to manufacture a new vehicle model after the release of the government’s automotive policy. Outgoing president and chief executive officer (CEO) of Mitsubishi Motors Philippines Corp. (MMPC) Hikosaburo Shibata told reporters that as the Philippine automotive market is expanding, it is in their interest to manufacture a new vehicle model. “We would like to manufacture a new model after the CARS (Comprehensive Automotive Resurgence Strategy) program (is released). That is our key agenda,” he said. As the company recently opened its 21-hectare plant in Sta. Rosa, Laguna, which is bigger than its previous 18-hectare facility in Cainta, Rizal, MMPC’s incoming president and CEO Yoshiaki Kato said the firm wants to assemble a new vehicle model in the future. “We opened a new factory in Sta. Rosa. Our new factory has bigger capacity than old one. In future, we need to consider manufacturing new model,” he said. The CARS program is considered important and critical to the firm’s plan. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “MMPC has been in this country for more than 50 years. We want to continue providing world-class opportunities to Filipinos for the next 50 more years,” Kato whose appointment takes effect on April 1, said. Shibata declined to give details on the new vehicle model being considered for assembly in the Philippines, but said that pursuing the plan would still depend on the support the government would provide under the CARS Read More …
Mar 202015
MANILA, Philippines – The House of Representatives wants the Securities and Exchange Commission (SEC) to regulate non-government organizations (NGOs) in the wake of the involvement of some of these groups in the multi-billion-peso pork barrel scam. The committee on appropriations chaired by Davao City Rep. Isidro Ungab has endorsed Bill 4449, which seeks to empower the SEC not only to register, but to monitor, regulate and if necessary, investigate NGOs as well. Ungab said clarifying the power of the SEC over NGOs would hopefully prevent these organizations from engaging in illegal or fraudulent activities. Laguna Rep. Joaquin Chipeco Jr., principal author of Bill 4449, said the pork barrel scam has brought to the fore widespread abuses and malpractices committed by some NGOs. “While the 1987 Constitution has laudably enshrined people’s organizations (POs), cooperatives and NGOs as the fleshing-out of the people power legacy of the Filipino nation, it was not long before a number of these organizations were corrupted by predatory individuals in collusion with certain self-serving politicians,” he said. “Registered as non-stock, non-profit organizations, these fraudulent organizations have put honest-to-goodness foundations and NGOs into disrepute,” he said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 He pointed out that people wondered what the SEC has done to stop these NGOs from stealing public funds and if the commission had the power to do so. “The SEC excuses itself from responsibility by claiming that there is no law that specifically mandates it to regulate, monitor and investigate foundations, Read More …
Mar 202015
I never planned to be a public speaker. I never participated in recitation and one history teacher gave me a failing grade because of it. I hated speaking in front of people yet I am fascinated by the ability of certain speakers to engage the audience and enthrall them with their words and presentations. I remember when I shared the public stage with the very kind Dr. Harold Sala. He saw how nervous I was and he said something I will never forget, “Francis, whether you are speaking to 100, 1,000 or 10,000, the principle is the same. Just think that you are speaking to one person and speak from the heart.” This crucial speaking tip that he shared with me propelled me to do what I am doing today. Dr. Harold Sala also said something else that resonated within me, “You know Francis, my most favorite part of the talk is the question and answer portion.” Now, here is a secret that many speakers won’t tell. Many speakers hate the question and answer portion because it is the part of the presentation that is beyond control. You never know who will be there. There could be hecklers, offended people who would like to knock you out in public, and some participants who would like to use the chance to present themselves as speakers or promote their personal agendas. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 You never really know what will happen. There are professional speakers who are Read More …
Mar 202015
Dear Editor: The Kalikasang Dalisay para sa mga Mamamayan ng Plaridel (KaDaMay Plaridel), an affiliate of the Diocesan Ecological and Environmental Program (DEEP) of the Diocese of Malolos, wishes to correct the information released by Steel Asia/Del Pilar Steel (DPSI) in its press release on your paper, Philippine Star Business Section on March 9, 2015 On major issues about people support and transparency: 1. From March 3-9, 2015 alone, we gathered more than 5,300 signatures from residents opposing the DPSI steel mill. Many more are signing, overcoming their fear of reprisals from local influential entities. The Diocese of Malolos, together with Bishop Oliveros and 142 priests of all its vicariates in Bulacan and Valenzuela, has issued letters supporting our opposition, first on 11 November 2014 and then again, on 11 March 2015. Please refer to attached file. 2. DPSI increased proposed capacity by 50 percent (from 800,000 MT/y to 1,200,000 MT/y) without informing the public prior to its DENR ECC application. Until now there are 50 unresolved issues in the EIS even after the EMB Review committee comments were claimed to have been integrated in their EIS. On major issues about land: Business ( Article MRec ), pagematch: 1, sectionmatch: 1 3. For the public’s information, the site where the steel mill is proposed to be sited is located in an Environmentally Critical Area, being surrounded by productive ricefields and NIA irrigation facilities, as well as households as close as 100 meters from the site. 4. The proposed site has Read More …
Mar 202015
MANILA, Philippines – DMCI Holdings of the Consunji Group said it expects the first 150-megawatt expansion of its Calaca coal-fired power plant in Batangas to be ready by the summer of 2015. “It would be synchronized to the grid by the end of April,” said DMCI Holdings chairman and president Isidro Consunji. The second phase of the expansion, which is another 150 MW, is expected to be completed two months after or by June, he added. Consunji said the project would help augment supply in Luzon especially as the grid has entered the critical period. The expansion would eventually bring the total capacity of the Calaca power plant to 1,250 MW from 600 MW. The first phase of the expansion involves the construction of two units of a 150-MW circulating bed power plant for a total of 300 MW while the second phase involves a single unit of 350 MW. The expansion would help boost supply this summer following the one-month maintenance shutdown of the Malampaya deep water gas-to-power project in offshore Palawan from March 15 to April 13. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The Malampaya gas field supplies power to three natural gas power plants in Luzon – the 1,200 MW Ilijan, the 1,000 MW Santa Rita and 500 MW San Lorenzo natural gas plants – which account for 40 percent of Luzon’s power requirements. As of yesterday, the Luzon grid had enough reserves at 1,777 MW while system capacity was at 9797 MW and Read More …
Mar 192015
THE TRANSPORTATION department said it will decide on unsolicited proposals to upgrade Metro Manila’s most congested elevated railway by next month, but added that there could be some overlap with current works to rehabilitate Metro Rail Transit Line 3 (MRT-3).