Vehicle assemblers’ sales up 19.3% in January

 Economy
Feb 112015
 
Vehicle assemblers’ sales up 19.3% in January

MANILA, Philippines – Sales of the country’s group of local vehicle assemblers grew by nearly a fifth in January from a year ago supported by the positive performance of both the passenger car (PC) and commercial vehicle (CV) segments. According to the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI), its combined sales with the Truck Manufacturers Association Inc. (TMA) reached 18,662 units last month, the highest January sales performance ever achieved and up by 19.3 percent from the 15,647 units sold in the same month in 2014. “January has been traditionally a slow month following a hectic selling period in December, but this year’s January sales results is yet another milestone achieved by the automotive industry,” CAMPI president Rommel Gutierrez said. Driving the growth in sales last month was the PC segment which posted a 35.8-percent uptick in sales to reach 7,200 units this year from the previous year’s sales of 5,301 units. The CV segment also contributed to the higher sales in January, having sold 11,462 units this year, which climbed 10.8 percent from 10,346 units a year ago. By company performance, Japanese carmaker Toyota Motor Philippines Corp. improved its leadership as it captured 46.7 percent of total sales. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Another Japanese firm, Mitsubishi Motors Philippines Corp., placed second with its 17.4- percent market share, followed by Ford Motor Co. Philippines Inc. with its 8.8-percent share. Settling for the fourth and fifth spots were Isuzu Philippines Corp. and Honda Read More …

On a short break

 Economy
Feb 112015
 
On a short break

I am currently out of the country for a short trip. This column will resume on Feb. 19 to tackle issues and concerns that affect the country. Facebook and Twitter We are actively using two social networking websites to reach out more often and even interact with and engage our readers, friends and colleagues in the various areas of interest that I tackle in my column. Please like us at www.facebook.com and follow us at www.twitter.com/ReyGamboa. Should you wish to share any insights, write me at Link Edge, 25th Floor, 139 Corporate Center, Valero Street, Salcedo Village, 1227 Makati City. Or e-mail me at reydgamboa@yahoo.com. For a compilation of previous articles, visit www.BizlinksPhilippines.net.

Why the mad rush for bilateral talks with SIA?

 Economy
Feb 112015
 
Why the mad rush for bilateral talks with SIA?

Many are wondering why the government seems to be in a mad rush to hold bilateral aviation talks with Singapore Airlines this week considering that barely a year ago, airlines were given the right to increase flights to about two million seats per week on the Singapore-Manila route, with Singapore’s airlines accorded “open skies” privileges to all other airports in the country. To think neither Singaporean nor Filipino airlines have maximized the use of the two million seats, so why the unseemly haste to hold talks with the city-state that is our competitor in the multi-billion-dollar business of travel and tourism marketing, with both countries vying for the attention of tourists from China, Japan, Korea, Europe and other countries? Admittedly, Singapore already enjoys great advantages that include a squeaky clean rep while the Philippines is only just beginning to play in the big leagues again as far as travel and tourism are concerned.  On top of the “More Fun in the Philippines” campaign and our efforts to improve safety and security, we are building the Entertainment City complex of casinos, with the City of Dreams being the latest example.  Our airlines are also investing in new routes and new aircraft even as government struggles to beef up airports and air navigation systems in a bid to make the Philippines a strong regional player in travel and tourism. Unfortunately, the Department of Tourism seems to be the driving force behind the mad rush for air talks with Singapore, perhaps not fully Read More …

‘Powering’ the business sector

 Economy
Feb 112015
 
‘Powering’ the business sector

Go Negosyo executive director Mon Lopez presents the books and DVDs to DTI Sec. Greg Domingo, Sen. Bam Aquino, re- gional director Wilhelm Malones and Iloilo MSMED chair Valerie Maravilla, to symbolically show the support being giv- en by Go Negosyo to the Negosyo centers, in terms of help- ing develop entrepreneurial mindset and competencies via seminars, trainings, mentorship network, product and market development. The other week, Unilever’s country chairman and CEO Rohit Jawa and I, together with my brother John, who is the managing director of our Selecta ice cream JV with Unilever, met Energy Secretary Jericho Petilla and his team to discuss the power situation.  Selecta is the market leader in ice cream with close to 80- percent share, with several thousands of freezers deployed in many sari-sari stores that are adding more income to small entrepreneurs. It is in the peak summer months that they benefit the most from selling ice cream. We wanted to get an assessment on how bad the power situation really is and whether or not we would be having brownouts that could affect the businesses of many micro entrepreneurs as well as the operations of all those in business.  Sec. Petilla had a very comprehensive and objective assessment of the situation. We believe he is on top of the situation and he is one of the best Energy secretaries that we ever had. In summary, he mentioned that while there is ample supply of power even during the summer months, there is still a Read More …

What do you play for?

 Economy
Feb 102015
 
What do you play for?

The author (center, back row) with STAR Motoring editor Manny N. de los Reyes (center) and Chevrolet Philippine distributor The Covenent Car Company Inc.’s Senior Vice President for Marketing and Customer Services Lyn Buena. For many football fans, winning or losing a game is a matter of life and death. But if you ask the folks around Old Trafford, they’Il tell you that that’s ridiculous. It is far more important than that. Welcome to Manchester, England. Home to the legendary Manchester United football team. In automotive terms, this would be what Scuderia Ferrari is to Formula One, or because love ‘em or hate ‘em, the sport wouldn’t be the same without them. It’s my first time to watch a match live. Well, one of this league at least. But this is not just any match; this is the most epic rivalry in football history: Manchester United versus Liverpool, which loosely translated is Ali vs Fraser, Prost vs Senna, Ateneo vs La Salle, and Roadrunner vs Coyote all rolled into one. Yes, I know. It is strange for a motoring journalist to be covering a football match, but I have been invited by Chevrolet Philippines through their global sponsorship program to understand precisely that. Because even though Chevrolet is pulling out of Europe, they are finding new roads in Asia and other emerging markets where football is the fastest growing sport, and using the power of play to make dreams become possibilities. “Followed passionately by billions of people around the world, Read More …

IFC energy expert bats for flexible LNG use

 Economy
Feb 102015
 
IFC energy expert bats for flexible LNG use

MANILA, Philippines – The chief energy specialist of the International Finance Corp. (IFC), the private sector investiment arm of the World Bank, said the introduction of flexible liquefied natural gas (LNG) in the Philippines would help reduce cost of power. “The physical characteristics and fuel supply constraints of the Philippines power system make necessary the introduction of flexible LNG to reduce price variability at the shoulder and peak,” said Tonci Bakovic in a paper disseminated to the media during an energy regulatory conference organized by the Norwegian Embassy. He said LNG supply that allows for the flexibility of spot purchases of LNG to avoid gas take or pay is a must.  “If gas with a large take or pay is re-introduced, we are back to square one and the sector will keep on having the physical must run problems that have nothing to do with the EPIRA (Electric Power Industry Reform Act),” Bakovic said. Furthermore, he said, authorities must “consider capacity payments to help with the financing of LNG import terminals. This, he said, is being done in other countries such as Colombia and Chile.  “The securitization of capacity payments from the electricity sector, in both Colombia and Chile, has facilitated the construction of importing LNG terminals in both countries,” the IFC official said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 For EPIRA, the landmark power reform law, Bakovic said there is no need to change this but noted that refinements can be made.  “Don’t change the EPIRA. Read More …

Cojuangco is new Petron chairman

 Economy
Feb 102015
 
Cojuangco is new Petron chairman

MANILA, Philippines – San Miguel Corp (SMC) chairman Eduardo M. Cojuangco Jr. has assumed the chairmanship of the conglomerate’s oil refining subsidiary following the resignation of Ramon S. Ang. In a disclosure to the Philippine Stock Exchange, Petron said its board of directors elected yesterday Cojuangco as the new chairman. “This is to advise that, at the meeting of the board of directors of Petron Corp. held earlier (yesterday), the following were elected as officers of the company: Eduardo M. Cojuangco Jr. as chairman of both the board of directors and the compensation committee of the company following the resignations of Ramon S. Ang from such positions, and Atty. Virgilio S. Jacinto as a member of the compensation committee,” Petron said. Ang in turn, has been elected as president following the resignation of Lubin Nepomuceno. Ang will serve as president for the remaining portion of Nepomuceno’s term while Nepomuceno will serve as general manager of the company. Petron did not cite any reasons for the resignation of Ang and Nepomuceno as chairman and president, respectively. Petron reported a consolidated net income of P3.2 billion in the first nine months of 2014, down 26 percent from the previous year’s P4.4 billion, due to the sustained fall in crude prices. Consolidated revenues, however, remained strong. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The benchmark Dubai crude fell to an average $97 per barrel in September from an average $108 per barrel in June, resulting in nine rounds of price rollbacks Read More …

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