Jul 022014
 
ALI plans malls in LRT stations

MANILA, Philippines – Property giant Ayala Land Inc. (ALI) stands to benefit from a P65-billion mass transit infrastructure project that will be awarded to conglomerates Metro Pacific Investments Corp. (MPIC) and Ayala Corp. (AC). The real estate arm of the Ayala conglomerate will introduce a retail concept in railway stations while additional Public-Private Partnership (PPP) projects will improve access to its properties, an official leading AC’s infrastructure businesses said. “ALI is our retail partner, the leasing partner,” Noel Eli B. Kintanar, executive vice-president of AC Infrastructure, said in a briefing. The assets up for redevelopment into commercial areas are part of the concession agreement for the P65-billion Light Rail Transit Line 1 (LRT1) Cavite extension project, Kintanar said. Specifically, there are plans to put up shopping centers or district mall concepts in LRT-1 stations, he said. Early last month, the Light Rail Manila Consortium formed by MPIC and AC offered to pay a P9.35-billion premium for the PPP mass transit project. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The LRT-1 Cavite extension project would increase the span of Line 1 to 32.4 kilometers from 20.7 km with a new south endpoint in Niog, Bacoor, Cavite. Approximately 10.5 km of the Cavite extension system would be elevated while 1.2 km would be at grade level. The government, which will award the 32-year concession to the consortium this month, has set aside P30 billion to acquire up to 39 new light rail vehicles. Kintanar said a retail concept could be Read More …

Jul 022014
 
BDO accelerates branch expansion with purchase of The Real Bank

MANILA, Philippines – The SM Group’s BDO Unibank Inc., the nation’s top lender, is accelerating its branch expansion program with its purchase of Quezon City-based thrift bank The Real Bank Inc. BDO told the Philippine Stock Exchange that it has agreed to acquire all recorded assets and assume all liabilities of The Real Bank. “The acquisition is in line with our objective to accelerate branch expansion in underserved areas,” BDO president and CEO Nestor Tan said. The Real Bank has a deposit base of P7.2 billion and operates 24 branches in Metro Manila and Luzon. Established in 1976 as Real Savings and Loans Association Inc. (RSLAI), it opened as a single-branch bank in Cainta, Rizal and rebranded as The Real Bank in 1994 by a group of investors led by realty developer Jose Acuzar. Its branches are strategically located in Metro Manila and major growth centers in  Bulacan, Pampanga, Laguna, Cavite, Batangas, and Rizal. Total resources stood at P8.115 billion as of end-June 2013, a more than three-fold increase from P2.39 billion in 2003. The thrift bank offers micro-financing support to the small and medium enterprise market, housing and auto loan products. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 BDO, meanwhile, has one of the largest distribution networks in the country with more than 800 operating branches and over 2,300 ATMs nationwide.  It also has a branch in Hong Kong as well as 13 overseas remittance and representative offices in Asia, Europe, North America and the Middle East. Read More …

Jul 022014
 
PNR eyes revival of Bicol Express by September

MANILA, Philippines – State-run Philippine National Railways (PNR) is set to revive the 422-kilometer Bicol Express train service in September or almost two years after its operations was suspended due to a derailment incident in Sariaya, Quezon. Joseph Allan Dilay, general manager of PNR, said the government-owned and controlled corporation (GOCC) is looking at restoring its train services to Legaspi, Albay by September after a successful trial run last month. Since the revival of its operation in June of 2011, the Bicol Express line service catered to some 2,000 to 3,000 passengers weekly. The highest ridership recorded during peak travel seasons such as Holy Week, All Saints’ and All Souls’ Day, and Christmas season. However, the operation of Bicol Express has been stalled following a derailment incident in Sariaya, Quezon in October 2012 that injured nine passengers. Transportation Secretary Joseph Emilio Abaya suspended the train service and ordered a full investigation on the derailment of Bicol Express Train 611. The train was carrying 120 passengers when the derailment occurred. Abaya said the revival of the Bicol Express service would hinge on the findings of the CPCS Transcom Ltd. of Canada. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “I for one, if I would only look at the economic side of the project would have given it a go signal. However, I am mindful of safety so I have given specific instructions not to run the service unless someone could certify that it is safe,” Abaya earlier said. Aside Read More …

Jul 012014
 
Hair Talk

Staying outdoors exposes our bodies to the harmful elements, and the same holds true even within the protective shell of a vehicle. Vulnerable parts of our physique such as our skin, hair, and eyes may remain exposed to harsh sunlight, wind, and pollution; and although we may not immediately feel its ill effects, these stresses pose cumulative damage to our bodies over time. Having said that, I would like to touch a subject that is seldom discussed when it comes to driving and commuting—hair damage. As vain as it may sound, it is a reality that for many people, further hair quality deterioration results as collateral damage from the daily commute. Of course some situations are more damaging than others—such as, say, driving your car with the top down; being part of the top-load of a jeepney (a regular occurrence in the provinces); hanging out at the upper level of an open-top tourist bus; or even just driving with only a glass moonroof over your head. But simple daily bad habits are already enough to pose collective damage to your hair…and so I decided to go get us some expert hair advice from a long-time top stylist and friend, Chastine Fitcher Isidro. Chastine has had a lengthy and remarkable career in hairstyling—he has gathered acclaim and highly specialized knowledge with regards to hair after pursuing studies in the United Kingdom. He studied in institutions such as the Toni&Guy Academy (UK), the Alan D Education Academy, and the Mahogany Hair Dressing Read More …

Jun 292014
 
Lawmaker eyes hike on call center workers' pay

MANILA, Philippines – A Mindanao-based legislator has filed a  bill which seeks to increase the graveyard shift pay of Business Process Outsourcing (BPO) employees from 10 percent to 25 percent of their basic salary. Maguindanao Rep. Zajid Mangudadatu said House Bill 4414 seeks to ensure that BPO employees are properly compensated for the risks they are exposed to in working from 10 p.m. to 6 a.m. “BPO employees are often exposed to stress because they take calls of agitated or angry customers.  They likewise make calls to customers of their companies for purposes of addressing concerns, making sales or other matters that require a lot of activity, resulting in undue stress.  “In addition, most BPOs operate during the night and this adds to the employees’ exposure to health hazard,” Mangudadatu said. He said that he is optimistic BPO owners and operators can afford the additional graveyard shift pay for their employees. “It should be highlighted that BPOs are owned and operated by foreigners and are in Philippine Economic Zone Authority-accredited locations.  This proposed increase is just a small price to pay for owners and operators of BPOs, some of whom enjoy tax benefits for being located in PEZA-accredited locations,” Mangudadatu said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 He noted that the existing applicable provision in the Labor Code of the Philippines only mandates an additional pay of 10 percent for work done from 10 p.m. to 6 a.m. His bill, however, proposes that all BPO employees shall Read More …