THE MANAGEMENT Association of the Philippines (MAP) hopes to be authorized to certify business travelers within the Asia-Pacific Economic Cooperation (APEC) region.
Oct 252013
Oct 252013
A CAVITE-BASED garment firm is seeking incentives from the government, according to a Board of Investments (BoI) notice published in newspapers yesterday.
Oct 252013
THE MILLENNIUM Challenge Account — Philippines (MCA-P) has hired a former Internal Revenue and Customs commissioner to serve as program coordinator for all projects under a revenue administration initiative funded by a grant from the US government.
Oct 232013
MANILA, Philippines – Three countries have endorsed the Philippines’ bid to keep its special restriction on rice imports until 2017. The National Food Authority (NFA) said China, India and Indonesia have supported the country’s petition to continue imposing its quantitative restriction (QR) on rice during a meeting of the World Trade Organization (WTO) Committee on Trade in Goods (CTG) in Geneva. Rice is the only commodity in the Philippines that enjoy a special restriction. “The outcome of the CTG (meeting) has reinvigorated and boosted the country’s efforts in pushing the initiative into positive conclusion by early next year,” Agriculture Assistant Secretary Romeo Recide, chief negotiator of the Philippines, said. The country’s petition will be tackled again in the special CTG meeting in March, during which a general consensus on the matter is expected to be arrived at. “If this goes well, we may get the general concensus by March,” said NFA administrator Orlan Calayag, adviser to the negotiating panel. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 This corresponds to the final approval of the Philippines’ petition on the QR extension. Participating in the negotiations for the country’s bid for QR extension are Australia, China, Canada, India, Indonesia, El Salvador, Pakistan, Thailand, US, and Vietnam. Also included in the negotiations are European Union, Japan and Korea. “What is important is that we get the consensus of the countries we are negotiating with,” said Calayag. The European Union, Japan and Korea have also shown support for the country’s petition.
Oct 232013
MANILA, Philippines – On Semiconductor Philippines Inc. is investing a total of $8 million next year to purchase equipment and upgrade technology for production of new products at its plant in Cavite. On Semiconductor president and general manager Sunil Banwari said in a telephone interview yesterday the investment would come in two phases. The first phase, which would amount to $4.5 million, would be made in the first quarter of next year. The second phase, which involves $3.5 million, is expected in the third quarter. “The investment will be made to buy equipment for automotive products which we are not producing now,” Banwari said. The firm is investing in production of automotive products amid sustained strong demand seen for such items. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Banwari said the investments would also be used to upgrade technology for other existing products. “The technology expectation is always getting higher so we need to invest for better quality,” he said. With investments to be made for new technology to be used, the firm will also be taking in new employees. Banwari said the investments would involve hiring 20 to 30 employees. At present, the firm has 3,000 employees. On Semiconductor is engaged in the manufacture of products such as IC surface mount packages as well as logic or analog test being used in consumer electronic products.
Oct 232013
MANILA, Philippines – The country’s top conglomerates have expressed renewed interest in participating in the country’s largest Public-Private Partnership (PPP) project to date following the government’s move to revise the concession deal. San Miguel Corp. (SMC), Metro Pacific Investments Corp. (MPIC), DMCI Holdings Inc. and Ayala Corp. are now looking to bid for the previously failed auction of the P60-billion Light Rail Transit Line 1 (LRT 1) Cavite extension project, executives said. “We will look at what the conditions are but the revised terms look good,” DMCI chief finance officer Herbert Consunji said in a phone interview. “Yes, we would,” MPIC chief finance officer David Nicol said in a text message when asked if the Pangilinan-led infrastructure conglomerate will join the LRT 1 bidding anew. SMC president and chief operating officer Ramon S. Ang said the diversified conglomerate is also interested in the LRT 1 project. Early this week, Transportation Secretary Joseph Emilio Abaya said the agency revised the concession agreement for LRT 1. The changes addressed five major issues: real property tax, power rates, warranty on the structure, fare adjustments, and the negative bid. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “We’re just waiting for government to reissue the new bid documents,” Noel Eli Kintanar, executive vice-president of the Ayala conglomerate’s AC Infrastructure Holdings Corp., said yesterday. “I think [the revision] addresses many of the issues that led the bidders not to put in a bid,” Kintanar said. In August, only MPIC submitted a bid without partner Read More …
Oct 232013
MANILA, Philippines – Four groups led by conglomerates Metro Pacific Investments Corp. (MPIC), San Miguel Corp., Ayala Corp., are set to slug it out for the P35.4-billion Cavite-Laguna Expressway (CALAX) project, the Department of Public Works and Highways (DPWH) said yesterday. Public Works Assistant Secretary Eugenio Pipo Jr. said a total of four groups submitted prequalification documents for the CALAX project yesterday afternoon. “All the bidders submitted their prequalification documents before the 2 p.m. deadline,” Pipo stressed. He pointed out that Alloy MTD Philippines Inc. was the first to submit at 11:04 in the morning. AlloyMtd is the merger between MTD of Malaysia and Alloy with a long established track record in civil engineering and construction, manufacturing, infrastructure concessions, energy, port operations, real estate and property development. It completed the 36 kilometer portion of South Luzon Expressway. The group led by conglomerate Ayala Corp. through Team Orion followed at 12:15 p.m. It is led by AC Infrastructure Holdings Corp. that tied up with Cebu-based Aboitiz Group, Macquarie Infrastructure Holdings Philippines as well as contractors Bouygues Travaux, Egis Road Operations, and Korea Expressway Corp. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Pipo said the third to submit at 12:39 p.m. was the group of businessman Manuel V. Pangilinan through MPIC’s Metro Pacific Tollways Development Corp. and partner Leighton Contractors (Philippines) Inc. The tandem formed MPCALA Holdings Inc. Diversified conglomerate San Miguel Corp. through Optimal Infrastructure Development Inc. submitted prequalification documents for the project at 12:58 p.m. Prior to the Read More …
Oct 232013
MANILA, Philippines – Realizing the need to find solutions not only for their retail customers but also for businesses, Samsung Electronics Philippines Corp. (SEPCO) launches the Samsung Partner Portal, a web-based communication channel aimed to help pursue business growth by creating mutually beneficial relationships between Samsung and its corporate reseller partners. Launched at the SM Aura, Samsung’s corporate business partners now have a place to go where they can check their incentives, updates, and have access to Samsung marketing collaterals and the like. Through the Partner Portal, Samsung will be able to closely monitor its partners’ performance, and at the same time, provide its partners the opportunity to be part Samsung Team of Empowered Partners (STEP) Program. As a member of the STEP Program, partners receive numerous benefits, which includes sales incentives, access to marketing collaterals, exclusive corporate reseller programs, and special corporate events. Members of the STEP Program will be categorized into three program tiers – Silver, Gold, and Platinum. Each partner tier has specific performance criteria and associated benefits. As partners advance to higher partner tiers, they receive increasing levels of opportunity for growth and rewards. To join the Samsung Partner Portal, you may register at: https://partnerportal.samsung.com/portal/app/main
Oct 222013
THE NATIONAL government’s outstanding debt rose by almost 6% in July as the state continued to increase its domestic borrowings, data from the Bureau of the Treasury showed.
Oct 222013
PROFESSIONALS will be required to publish their rates starting next year as the government continues to intensify its anti-tax evasion campaign, according to the Bureau of Internal Revenue (BIR).