DOTC sees completion of P13.25-B aviation system by 2015

 Economy
Jul 072013
 
DOTC sees completion of P13.25-B aviation system by 2015

DOTC Sec. Joseph Emilio Abaya MANILA, Philippines – The Department of Transportation and Communications (DOTC) expects the completion of the P13.25 billion world-class communication, navigation and surveillance system by 2015 or before the end of the term of President Aquino. Transportation Secretary Joseph Emilio Abaya said the joint venture between Sumitomo Corp. of Japan and Thales Australia Ltd. has committed to complete the Communications, Navigation and Surveillance/Air Traffic Management (CNS/ATM) Systems Development Project Package–I by November 2015. “I don’t expect any further delay. I know the whole project is estimated to be done by November 2015,” Abaya said. The CNS/ATM Systems Development Project was first conceptualized in accordance with the International Civil Aviation Organization (ICAO) Global Air Navigation Plan, and would replace the aging vital communications, surveillance, and air traffic control equipment at selected airports nationwide. The DOTC awarded the two work packages to Sumitomo-Thales joint venture. The first package which entails the design and construction of the ATM Center and ATM Automation System, as well as the final integration of the whole CNS/ATM system was awarded in November 2010. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The second package which involves the design and construction of a surveillance and communication system was awarded in April 2011. The CNS/ATM project aims to enhance safety, reliability and efficiency of air traffic and airspace systems in the Philippines. The existing air traffic control systems, navigation, communications and surveillance equipment in the country fall short of the required number, are aging Read More …

Global air traffic rises in May amid Asia Pacific slowdown

 Economy
Jul 072013
 
Global air traffic rises in May amid Asia Pacific slowdown

MANILA, Philippines – Global passenger traffic grew at a faster rate of 5.6 percent in May amid the slowdown in the Asia Pacific region including the Philippines, data from the International Air Transport Association (IATA) showed. IATA director general and chief executive officer Tony Tyler said air travel continued to expand at a healthy rate as overall demand rose 5.6 percent while capacity climbed 5.2 percent, pushing the load factor up to 78.1 percent. “Global economic performance remains a concern, however, demand for air travel continues to expand. The primary driver is growing demand for connectivity to emerging markets,” Tyler stressed. Data showed that May international traffic passenger demand rose 5.7 percent compared to the year-ago period amid a 5.6- percent rise in capacity resulting to a load factor of 77 percent. International traffic of Asia-Pacific airlines rose at a slower pace of 3.7 percent in May compared to the year-ago period but this was more than offset by a 5.5-percent rise in capacity resulting to a 1.3-percent decline in load factor to 74.1 percent. “The softness in demand is consistent with falls in business confidence in major Asian economies as well as a slowdown in trade growth momentum. In particular gross domestic product (GDP) growth in China did not meet expectations in the first quarter and business confidence has slipped to levels indicating contraction in manufacturing activity,” Tyler explained. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 He added that the strongest growth occurred in the emerging markets Read More …

Vista Land unit seeks BOI perks

 Economy
Jul 072013
 
Vista Land unit seeks BOI perks

MANILA, Philippines – Lumina Homes Inc., a unit of listed Vista Land and Lifescapes Inc. is seeking incentives for a new housing project in Batangas. The Board of Investments (BOI) said Lumina Homes has filed an application for registration with the agency “as a new developer of low cost mass housing project (Lumina Phase 1) with a capacity of 158 low-cost mass housing units on a non-pioneer status.” The project is located at Brgy. San Vicente, Sto. Tomas, Batangas. Should its application with the agency be approved, Lumina Homes can quality for incentives such as income tax holidays. The government offers incentives to firms that invest in preferred sectors or activities. Under the 2012 Investment Priorities Plan (IPP), which serves as the country’s investment promotions blueprint, mass housing is considered a preferred activity. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Lumina Homes is partly-owned by Vista Land. Vista Land, the country’s largest homebuilder, caters to all income segments in the country through its wholly-owned subsidiaries Brittany Corp., Crown Asia Properties Inc.,  Camella Inc., Communities PhilippinesInc. and Vista Residences Inc. Its range of product offering starts from below P1 million to P48 million. As of the first quarter, Vista Land’s net income amounted to P1.342 billion, 29 percent higher than the P1.036 billion in the same period last year.

Jolliville eyes $75-M hydro plants

 Economy
Jul 072013
 
Jolliville eyes $75-M hydro plants

MANILA, Philippines – Listed holding firm Jolliville Holdings Inc. plans to pursue two new hydropower projects with a generation capacity of 20 megawatts (MW) worth as much as $75 million. The company aims to initially ride on the increasing energy demand in Mindoro province before expanding in new areas, its top official said. “After the first 10-MW mini-hydro power plant, we might expand our hydropower plant by another 10-20 MW using the same source,” Jolliville chairman and CEO Jolly L. Ting said in an interview. Based on a benchmark investment of $3-3.5 million per MW for hydropower projects, Jolliville will need $60-75 million for the two renewable energy projects. Last week, Jolliville subsidiary Ormin Power Inc. borrowed P1.1-billion from state-owned Development Bank of the Philippines to fund the construction of the 10-MW Inabasan River hydropower project. Ting said the loan covers 70 percent of the total project cost, with the remaining 30 percent to be sourced from internally-generated cash. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The first phase of the run-of-river hydropower venture will start commercial operations in 2015. “We will have to finish the first 10 MW and then we can be ready for another 10 MW,” Ting said, adding that Inabasan River can produce as much as 30 MW of power. Electricity generated by the power plant will be sold to the Oriental Mindoro Electric Cooperative (Ormeco), the sole power distributor in the province. Ormeco distributes power to the entire province of Oriental Mindoro which Read More …

IT solutions provider opens new Makati office

 Economy
Jul 062013
 
IT solutions provider opens new Makati office

MANILA, Philippines – Information technology (IT) solutions provider Fritz and Macziol Asia Inc. has opened a new office in Makati City as it seeks to expand its workforce and operations. Ernesto Alfredo Cruz, Fritz and Macziol Asia senior vice president for sales and marketing, said in an interview that the company decided to move to Zuellig building in Makati City from the Net One Center in Taguig City as part of its expansion plan. “We are already expanding…We were occupying two floors (in Taguig) and we need more. We needed an additional floor but they couldn’t give us anymore,” he said. The size of the new office, he said, is double the space previously occupied by the company and would allow the company to hire more IT professionals. “Initially, in the workforce, we are targeting to add 30 to 40 percent,” he said. The company has around 70 employees at present.

SMDC launches Breeze Residences

 Economy
Jul 062013
 
SMDC launches Breeze Residences

MANILA, Philippines – SM Development Corp. (SMDC) recently launched its latest residential condominium project, Breeze Residences, during ceremonies at the SMDC Grand Showroom in the Mall of Asia Complex in Pasay City. Conveniently located along Roxas Blvd., Breeze Residences is a 38-story, single tower condominium that is within easy reach of shopping, dining, and entertainment destinations such as the Mall of Asia Complex, Entertainment City and Star City.  It is also easily accessible to transport hubs such as NAIA 1, 2 and 3, EDSA-Taft MRT station, and bus transit points along EDSA.  It is also within close proximity to various educational, medical, and religious establishments, as well as cultural and tourist hotspots. Master planned to suit the needs and lifestyles of single young professionals, expats and starting families, the amenities of Breeze Residences include a grand lobby, two lap pools, a kiddie pool, landscaped gardens with covered gazebos, poolside lounge areas, a children’s playground and a Sky Lounge at the penthouse, from which residents can unwind over panoramic views of Manila Bay or the Manila skyline.  Residents will also enjoy the convenience of having various commercial establishments at the ground floor. Breeze Residences offers studio and one-bedroom units with balconies, designed to capitalize on magnificent views of both Manila bay and the Makati cityscape.  Unit sizes range from 22 square meters (sqm) to 41 sqm. The current selling prices of the units are from about P2 million to P4.9 million.  Construction of Breeze Residences commenced in May 2013, and target Read More …

Philips, ADB bat for energy efficiency investments in Phl

 Economy
Jul 062013
 
Philips, ADB bat for energy efficiency investments in Phl

MANILA, Philippines – Philips, a diversified consumer health care and lighting company, has stressed the importance of energy efficiency  initiatives in the Philippines. Harjit Gill, chief executive officer of Philips Asean & Pacific, said it is important to raise consumers’ awareness on energy efficiency, saying  it would strongly benefit the economy. Gill recently spoke during the recent 8th Asia Clean Energy Forum organized by the Asian Development Bank (ADB). In the same forum, officials presented the results of an ADB study, which said that if governments push for more energy efficiency investments, there would be less need to build power plants. This, in turn, would free up government funds for spending elsewhere, the ADB study said. Gill said that as a company, Philips has a wide array of consumer products such as LED lights that promote energy efficiency. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The company is banking on growing sales in the Philippines and the rest of the Asia-Pacific region to hit its double-digit growth target for the year. “The plan is to grow our business here,” Gill said.  “The region is growing. Our ambition is to grow double-digit,” she said. Growth will come from Philips three major business segments – healthcare, consumer lifestyle and lighting. In the first quarter of the year, Philips grew 34 percent in the Asia-Pacific region, driven by strong consumer demand. In the Philippines, she said the company would continue to bring energy efficient lighting solutions and would target several institutional Read More …

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