Maniolas

MANILA, Philippines – AC Energy Holdings Inc., the power generating arm of conglomerate Ayala Corp., has breached its 1,000-megawatt (MW) capacity target with the construction of the 668-MW GNPower Dinginin project now in full swing.  With the construction of GN Power Dinginin Ltd. Co. (GNPD) coal plant, AC Energy now has a total attributable capacity of 1,088 MW. AC Energy president and CEO John Eric Francia said the company achieved this milestone through partnerships with various industry players.   “Our ability to partner has been a strong driver in rapidly growing our portfolio. We will continue to grow through partnerships and in the process have a more diversified portfolio,” he said. The power firm has an attributable capacity of 334 MW from GNPD, where it owns a 50-percent economic stake with US-based GN Power, owned by Nauruan-American firm Power Partners Ltd. Co. Since it entered the market in 2011, AC Energy now has seven thermal, wind, and solar assets. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Apart from the Dinginin project, other facilities that make up the 1,000 MW portfolio include the 604-MW GNPower Mariveles, the 2×135-MW coal-fired power plant in Calaca, Batangas under South Luzon Thermal Energy Corp. (SLTEC) and the 4×135- MW coal-fired power plant in Kauswagan, Lanao del Norte in Mindanao through GN Power Kauswagan Ltd. Co. (GNPK). AC Energy’s portfolio also includes the 52-MW Northwind Power Development Corp. in Bangui, Ilocos Norte and the 81-MW wind farm in Pagudpud, Ilocos Norte through its affiliate Read More …

If it’s your first time to buy take out a housing loan, it’s best to take time understandig the basics before going through the process. NY/CC BY-SA 3.0 MANILA, Philippines – When purchasing a home, you need to understand how housing loans work. But the subject is often intimidating, especially to first-time home buyers. Many people think it is complex, with all the math and legal mumbo jumbo involved. Don’t worry, because to give you an idea of how housing loans work, here’s an infographic to guide you through some basic concepts you’ll encounter as you try to get your home purchase financed. READ MORE: How to get started with renting out a property Business ( Article MRec ), pagematch: 1, sectionmatch: 1 4 inspiring tips for fearful investors Settling in the metro: Does it still make sense? How long does it really take to own a house? Map: Places to live that may be better than Metro Manila

DEVELOPED countries’ “mediocre” performance since the 2008-2009 economic and financial crisis is set to persist, but this time the loss of momentum in developing countries will become an added threat, the United Nations Conference on Trade and Development (UNCTAD) said.

Local credit watchdog Philippine Rating Services Corp. has issued a double-A credit rating on DoubleDragon’s proposed bond issuance. File photo MANILA, Philippines – DoubleDragon Properties Corp. plans to raise as much as P15 billion from its maiden bond offering under a shelf registration program. This marks DoubleDragon’s first foray into the local bond market as part of its  goal to build  one million square meters of leasable space in the next five years. The first tranche of the offering is the issuance of P5 billion in retail bonds, with an oversubscription option of  an additional P5 billion, before the end of the year. The succeeding tranches are proposed to be issued under a shelf registration program, which allows its issuance within a period of three years. A joint venture between Mang Inasal founder Egar “Injap” Sia II and Jolibee founder Tony Tan Caktiong, DoubleDragon is a fast-growing property developer.  It has recently entered the hospitality industry via the acquisition of Hotel of Asia. Local credit watchdog Philippine Rating Services Corp. has issued a double-A credit rating on DoubleDragon’s proposed bond issuance. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Obligations rated PRS Aa are of high quality and are subject to very low credit risk. The obligor’s capacity to meet its financial commitment on the obligation is extremely strong. PRS Aa is the second highest rating category on PhilRatings’ existing credit rating scale. PhilRatings said the credit assessment reflected DoubleDragon’s clear and well-planned growth strategies,  its strong alliance with its Read More …

Environment Undersecretary Leo Jasareno, head of the audit team, said 12 mining firms are on the verge of suspension, on top of the 10 companies that were already stopped. AP Photo/David Goldman MANILA, Philippines – Twenty-two mining companies are in possible trouble after the Department of Environment and Natural Resources (DENR) confirmed that more than half of the country’s 40 metallic mines are recommended for suspension following the end of the month-long audit on the industry. Environment Undersecretary Leo Jasareno, head of the audit team, said 12 mining firms are on the verge of suspension, on top of the 10 companies that were already stopped. “All reports have been submitted and 12 companies are recommended for suspension [by the audit team]. The other 18 are under final reviewed already,” Jasareno told reporters. “The violations include inadequate social development, mining practices and siltation among others. But most common is their environmental violations,” Jasareno said. He emphasized that of the 22 companies, majority are nickel miners and are located in Mindanao. Twenty-eight of the 40 metallic mines in the country are nickel miners which use the open pit method, thus more prone to risks, Jasareno said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The DENR is set to announce the final result of the mining audit on Monday after cancelling it twice due to document finalizations. Upon the release of the result, Environment Secretary Gina Lopez will forward the report to the regions to implement the decision of whether they Read More …