SMC unit allots $1.5 B for 2 power plants

 Economy
May 212013
 
SMC unit allots $1.5 B for 2 power plants

MANILA, Philippines – SMC Global Power Holdings Corp., the power generation unit of diversified conglomerate San Miguel Corp., is investing $1.5 billion for the construction of two new power plants, its top official said yesterday. In a briefing with reporters on the sidelines of Petron Corp.’s annual stockholders’ meeting, SMC president Ramon Ang said the energy unit is spending about $1 billion for the construction of a 600-megawatt coal fired-plant in Bataan in northern Luzon and $500 million for another plant in Davao. Construction for the two plants has already started, he said. He said SMC Global may construct more power plants, depending on the viability and business climate. “We’re supposed to do more. We’re still evaluating the best option,” he said. The two plants should start operating in the middle of 2015, Ang said. He said there are no plans to borrow for the funding requirements for both projects. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “The (funding) will be in-house. Madami kaming cash,” Ang said. He also confirmed plans to revive the initial public offering (IPO) of SMC Global, possibly within the year. He said there is an interested investor who wants to come in. “There’s really a very hot buyer who wants to invest in that business,” he noted. He said SMC Global may sell as much as 49 percent, equivalent to $500 to $800 million. In 2011, SMC Global filed an IPO application before corporate regulators. The power generation firm earlier planned to raise Read More …

Taipei releases satellite record, rejecting Manila’s claim

 News
May 212013
 

Agence France-Presse 9:13 pm | Tuesday, May 21st, 2013 TAIPEI — Taiwan on Tuesday released a satellite record of the route of a fishing boat fired on by Philippine coastguards, flatly rejecting Manila’s allegations that the boat intruded into Philippine waters. The killing of crew member Hung Shih-cheng, 65, sparked outrage in Taiwan, which has announced a series of economic sanctions against the Philippines. Taiwan’s Fisheries Agency said the voyage data recorder from the fishing boat showed it was not in Philippine waters when it came under fire on May 9. “The satellite records indicated that the Guang Ta Hsin 28 had been fishing within Taiwan’s exclusive economic zone throughout,” the agency’s deputy chief Tsay Tzu-yaw told AFP. The satellite record showed that the ship was positioned at 122 degrees and 55 minutes east and 19 degrees and 59 minutes north when it was attacked at 10:12 am. The economic zones claimed by each country overlap. “Since the Philippine authorities repeatedly alleged that the fishing boat had intruded into their waters, then why not make public the video records they claim they have taken from the coastguard boat?” Tsay said. The Philippines said Monday it would make “coordinated efforts” with Taiwan to look into the incident. Its coastguards claimed that the fishing boat intruded into Philippine waters and tried to ram their vessel, forcing them to open fire. Taiwan’s President Ma Ying-jeou has termed the killing “cold-blooded murder” based on an initial inquiry by Taiwan, which showed that the boat Read More …

Aquino: We can fight back vs any threat

 News
May 212013
 
Aquino: We can fight back vs any threat

8:46 pm | Tuesday, May 21st, 2013 Members of the Philippine Navy SEALS display their gear during a ceremony celebrating the 115th anniversary of the Philippine navy at Fort San Felipe, Cavite city southwest of Manila, Philippines Tuesday, May 21, 2013. The Philippine government is planning to spend $1.8 billion dollars to modernize the Philippine navy with acquisition of additional ships and anti-submarine helicopters. AP MANILA, Philippines—Faced with territorial disputes and worries of external and internal threats, President Benigno Aquino III on Tuesday claimed that the Philippines can fight back and defend itself within its bounds. “Our message to the whole world is clear: what belongs to the Philippines belongs to the Philippines,” Aquino said in a speech at a naval base in Cavite province south of Manila. “We can fight back and defend ourselves every time somebody will threaten us right in our own home ground.” Department of Foreign Affairs spokesman Raul Hernandez said the Philippines denounced the “provocative and illegal presence” of Beijing’s ships off Ayungin Shoal in the South China Sea, adding the area is “an integral part of our national territory.” “We have already sent communications on this. We have already told them about our position regarding these vessels, which have intruded in our EEZ (Exclusive Economic Zone),” Hernandez in a press briefing on Tuesday. Asked what such “communications” were, Hernandez said: “When we send communications on things like this, when there are intrusions, we file protests.” The DFA filed the protest with the Chinese Embassy Read More …

DOE chief still not keen on reviving BNPP despite blackout

 News
May 092013
 
DOE chief still not keen on reviving BNPP despite blackout

Despite the power outage that hit Luzon last Wednesday, the Department of Energy is not keen on reviving the Bataan Nuclear Power Plant to shore up the country’s energy reserves. Energy Secretary Carlos Jericho Petilla on Thursday evening said the BNPP lacks the capacity to meet present-day demand levels for energy, and may have safety problems if it is upgraded. “During that time (1970s), I would say dati (ang power capacity natin) mga 5,000 to 6,000 megawatts. Ngayon itong plant na ito is 400 megawatts. ‘Pag ikaw nagdagdag ng 400 megawatts sa 5,000 megawatts, napakalaking bagay. Ngayon, ang 400 megawatts parang balewala kung 16,000 megawatts ang present capacity, katiting na lang,” Petilla said in an interview on dzBB. Today, figures from the National Grid Corp. of the Philippines shows the demand for energy in Luzon alone is already 8,567 megawatts, more than 20 times the BNPP’s 400 megawatts. Petilla said they are aware of suggestions from some sectors to revive the BNPP, which was mothballed after the 1986 EDSA Revolution. He said the plant had been paid for and needs only the reactors to run. Yet, he said that if it were to be useful, it should be upgraded to have a capacity of 2,000 megawatts. “Ang problema, ang nuclear power plant na ito luma na… So wala nang cost benefit…. Kung 400 megawatts, napakaliit ng capacity at napakalaki ng risk,” he said. The DOE earlier said it is taking steps to prevent a repeat of Wednesday’s power outage, especially Read More …

PAGASA: Rain over Mindanao, 38-degree Celsius weekend for Central Luzon

 News
May 092013
 
PAGASA: Rain over Mindanao, 38-degree Celsius weekend for Central Luzon

Satellite Image as of 7:30 a.m, 9 May 2013. | Weather Central Central Luzon is in for scorcher of a weekend as temperatures as high as 38 degrees Celsius was forecast. Meanwhile, rain was projected over parts of southern Luzon, western Visayas and Mindanao due to the inter-tropical convergence zone. PAGASA forecaster Ricky Fabregas on Friday said that while the ITCZ would be affecting Mindanao, the easterlies or warm winds from the east will be affecting the rest of the country. “Sa Election Day, ang Mindanao may high probability ng paulan dahil sa ITCZ. Sa Luzon at Visayas, mababa ang probability, mga isolated rain showers and thunderstorms,” Fabregas said in an interview on dzBB radio. He also said temperatures will be hot in Luzon on Election Day, at about 26 to 35 degrees Celsius. Visayas and Mindanao may expect cooler weather at 25 to 33 degrees Celsius. 38-degree Celsius weekend PAGASA’s extended outlook indicated temperatures of up to 38 degrees Celsius in Angeles and Olongapo Cities in Central Luzon. It said the two cities may expect temperatures of 25 to 37 degrees Celsius Friday, and 25 to 38 degrees Celsius Saturday and Sunday, before settling to 25 to 37 degrees Celsius on Monday. Metro Manila may expect temperatures of 25 to 35 degrees Celsius Friday and Saturday. Tuguegarao City may expect temperatures of 24 to 36 degrees Celsius Friday. Friday weather In its 5 a.m. bulletin, PAGASA said Mimaropa, western Visayas and Mindanao will have cloudy skies with light to Read More …

Calif. care facility that employs Pinoys slapped with $1.6M citation for wage theft

 News
May 092013
 
Calif. care facility that employs Pinoys slapped with $1.6M citation for wage theft

By Rose Paquette INQUIRER.net U.S. Bureau 5:02 am | Friday, May 10th, 2013 SAN FRANCISCO–The California Labor Commissioner has issued a citation amounting to over $1.6 million in labor law violations–including unpaid minimum wage and overtime–to Bedford Care Group, Inc., an assisted living provider with six facilities in Fresno and Clovis, California that employs many Filipinos. Immigrant workers sought help from the Asian Law Caucus, a Workers’ Rights law firmcivil rights organization based in San Francisco, and Filipino Advocates For Justice (FAJ) in Oakland, who then assisted the complainants to file a formal complaint before the California Labor Commissioner. Upon uncovering the violations, Labor Commissioner Julia A. Su, ordered the Bedford Care Group, Inc.,  to pay $1,398,890 in unpaid overtime, $17,025 in unpaid minimum wage, and $95,053 in meal and rest period premiums to 11 current and former caregivers. The Bedford Care Group, Inc. was also fined $114,500 in penalties. The citations were issued after the Labor Commissioner’s Office interviewed and completed an audit for the 11 caregivers from November 2011 to April 2013 to determine the amount of unpaid wages owed. Labor Commissioner Su told PRnewswire online, “These live-in employees were on call and often required to work 24 hours a day and were not paid for all hours worked.  This is wage theft, and we will do everything in our power to ensure workers are paid all the wages they have earned.”             Saying she feels confident with their numbers and the case is strong, Szeto said the Read More …

Mayon Volcano survivor recalls ‘scene from hell’

 Entertainment
May 092013
 

By Sarah Taguiam MANILA, May 8, 2013 (AFP) – Philippine tour guide Roel Llarena recalled Wednesday how a mountain hike turned into a nightmare when the volcano he was climbing began spewing out giant rocks, killing five of his companions. “I stood there frozen. I couldn’t believe what was happening, I didn’t know what to […]

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