OVER 50 renewable energy (RE) contracts will be canceled by the Department of Energy (DoE) within this semester, an official said last week, after making insufficient progress in moving their projects forward.
Mar 122015
Mar 122015
MANILA, Philippines – San Miguel Pure Foods Co. Inc. hopes to seal its purchase of Southeast Asian firms engaged in the meat processing business this year as it seeks to bolster its operations abroad. In an interview, Pure Foods president Francisco Alejo III said the company is currently in talks with companies in Indonesia and Vietnam for possible acquisitions. “We are actually looking at Vietnam and Indonesia where we already have businesses. We’re looking at processed meats because that is our core competency,” Alejo said. “Hopefully (we can finalize) within the year for Vietnam. For Indonesia, that maybe later,” he added. Alejo described the two foreign companies it is currently in discussions with as having “substantial market shares in their region.” “In Vietnam, processed meat is a relatively new category although they are a pork-eating country. So we feel that in the long term, there is a growth opportunity,” he said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Alejo said Pure Foods has earmarked about P8 to P10 billion for its capital expenditures this year, a portion of which will be used for potential acquisitions. “Our focus is really on acquisition because that is one way of fast tracking the growth of San Miguel,” he said. “If you look at our balance sheet, we have a very strong balance sheet. We have a lot of room to raise funds through borrowings and we have enough cash today because we sold Meralco shares last year,” added Aida Postrado, chief Read More …
Mar 122015
MANILA, Philippines – The operator of Clark international airport has partnered with Robinsons Malls of taipan John Gokongwei and Genesis Transport Service for the establishment of a transportation hub to cater to airline passengers. Emigdio Tanjuatco III, president and chief executive officer of the Clark International Airport Corp. (CIAC), said the partnership with Robinsons and Genesis calls for the establishment of the hub with a ticketing lounge located at the Bus Terminal of Robinsons Starmills Pampanga. Tanjuatco led the signing of the memorandum of understanding with Robinsons Malls senior vice president and general manager Arlene Magtibay and Genesis Transport marketing head Loren Zubia, According to Tanjuatco, the new hub would cater to passengers and travelers using the Clark International Airport. Clark Airport is host to several airlines such as Asiana Airlines, Qatar Airways, Cebu Pacific, Seair, Tiger Air, Jin Air, Dragonair, Air Asia Berhad and Tiger Air Singapore. “We all aim to give our customers the best service possible and one of the concerns of the passengers right now is the mobility of the passengers from terminal to destinations, and we are thankful that we have partners such as Robinsons and Genesis to address that concern,” Tanjuatco said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Tanjuatco also vowed to extend support to Robinsons and Genesis to make the partnership stronger in the long run. For her part, Magtibay said about 500 buses from various points of Luzon are picking up and dropping passengers at the Robinsons Starmills Pampanga. Read More …
Mar 122015
MANILA, Philippines – Aboitiz Land Corp., the property arm of the Aboitiz family, has earmarked P5 billion as capital expenditures this year to support mostly acquisition of more land. Andoni Aboitiz, Aboitiz Land chief executive officer, said the company is currently in negotiations for additional property in Southern Luzon and is expecting to close one within the year. “For us, Southern Tagalog area would make sense because there’s already Lima. So that’s where it makes sense for us,” Aboitiz said. Aboitiz Land last year acquired full ownership of Lima Land Inc. after buying out Marubeni Corp.’s 40-percent stake in the Batangas-based company. Lima Land is the owner and operator of the 485-hectare Lima Technology Center, a PEZA-registered industrial park in Lipa, Malvar in Batangas. “We’re looking for areas suitable for residential development. But we’re not going to enter the high-rise segment. We’re going for the niche market. We’ll focus on the house and lot market,” Aboitiz said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “Each area is unique. The plan is really to do house and lot and concentrate on the amenities,” he added. Aboitiz said this year’s spending for Aboitiz Land is similar to the company’s budget in the past years.
Mar 122015
MANILA, Philippines – Megaworld Corp. will launch three more residential projects in the Makati central business district (CBD) until next year. Eugene Em Lozano, Megaworld vice president for sales and marketing for Makati CBD, said the new residential towers will be part of the company’s efforts to increase its portfolio of property developments in the country’s premier financial hub to more than 30 towers by 2016. “As Makati continues to establish itself as the top location for real estate investment, Megaworld is poised to aggressively expand its residential condominium portfolio in this premiere city,” he said. Lozano said Megaworld remains bullish on Makati CBD ‘s residential market following a “remarkable” take up of its residential units in the area over the last three years. “The good economic condition that the country enjoys since last year is largely felt in Makati CBD. The office spaces are getting filled up and the retail industry is on its all-time high. That is why our residential condominiums, all located in premium addresses, are also on high demand,” Lozano said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1
Mar 102015
THE GOVERNMENT will decide by year’s end on the toll hike applications of some major expressway operators, who are seeking to increase charges by as much as 25%, a Toll Regulatory Board (TRB) official said on Monday.
Mar 102015
THE PHILIPPINE government and the Asian Development Bank (ADB) have signed a $300-million loan agreement to support the country’s implementation of the K to 12 program in its basic education curriculum, according to a document posted on the ADB Web site.
Mar 102015
THE REDUCTION of income tax rates for both individual and corporate taxpayers will not be achieved within the term of President Benigno S. C. Aquino III, Senator Juan Edgardo M. Angara said on Tuesday, citing pleas from some agencies to go slow on tax cuts.
Mar 102015
MANILA, Philippines – American-based Feld Motor Sports has announced that monster truck juggernaut Monster Jam is headed to Manila for the first time ever, debuting at Mall of Asia Arena on the 20th and the 21st of June for three exciting shows, with ticket prices starting at P850. For decades, Monster Jam has been one of the biggest and most successful touring family shows in the United States. Monster Jam is one of the most exciting forms of family entertainment, featuring four-meter tall, five-ton beasts. The stars of the show are the biggest performers on four wheels: the Monster Jam trucks. These amazing machines bring fans to their feet while racing and ripping up a custom-designed track full of obstacles to soar over – or smash through. Monster Jam is a family-friendly event that will appeal to the young and young at heart, as well as lovers of motor and adventure sports, and will be sure to have Filipino hearts racing. Monster Jam is a huge day out for all the family kicking off with the world famous Party in the Pits. Before the 2pm shows on Saturday, June 20 and Sunday June 21, fans will have the opportunity to meet the Monster Jam superstars, get their autographs and take pictures with the trucks. This unequalled access allows fans to really get amongst the Monster Jam action. “We are thrilled to be bringing Monster Jam to our fans in Manila for the first time!” said Feld Motor Sports’ International Vice Read More …
Mar 102015
Electronic products remained as the county’s top export, accounting for 46.8 percent of the total. MANILA, Philippines – The country’s merchandise exports contracted by 0.5 percent in January, the Philippine Statistics Authority (PSA) announced on Tuesday. “The negative growth was mainly brought about by the decrease of five major commodities out of the top 10 commodities for the month and these were: other manufactures; woodcrafts and furniture; chemicals; metal components and coconut oil,” PSA noted. Electronic products remained as the county’s top export, accounting for 46.8 percent of the total. This was followed by machinery and transport equipment, other manufactures, woodcrafts and furniture and articles of apparel and clothing accessories. Japan was the country’s top export destination, followed by the United States, China, Hong Kong and Singapore.