Del Monte denies Suntory takeover

 Economy
Jul 202013
 
Del Monte denies Suntory takeover

MANILA, Philippines – Newly-listed Del Monte Pacific Ltd. of condiments king Joselito D. Campos Jr. said it is not in negotiations with Japanese beverage giant Suntory Beverage & Food Ltd. for a takeover. “Neither Del Monte Pacific nor its controlling shareholder, NutriAsia Pacific Ltd., nor its representatives, are in discussions with Suntory, its shareholders or representatives,” the company said in a disclosure. Shares of Del Monte Pacific, which implemented a temporary trading suspension, hit an intraday high of P27.05 on Friday before easing to P26.80, still up P1.13 compared with Thursday’s closing price. Several reports came out that Suntory, the maker of Boss coffee and Orangina soda, is planning to acquire Del Monte Pacific. Last month, Suntory completed Asia’s largest initial public offering so far this year. The softdrinks unit of conglomerate Suntory Holdings Ltd. raised nearly $4 billion, beefing up its war chest for a $5-billion acquisition spree that is seen to help double sales by 2020. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Del Monte Pacific, for its part, is the first company to list in both the Philippine and Singapore bourses. It is banking on increasing the footprint of its branded business here and abroad. The 23,000-hectare plantation of Del Monte in Mindanao is the world’s largest fully-integrated pineapple operation with a 750,000-metric ton processing capacity. It was set up in 1926 by the US government because of the widespread pineapple disease in Hawaii. Del Monte Pacific produces, markets and distributes food, beverages, and related Read More …

Unfair competition

 Economy
Jul 202013
 
Unfair competition

The end will never justify the means. How can some sectors even suggest that the government turn a blind eye on the illegal act of dumping Turkish flour into our territory and then threaten to increase bread prices if anti-dumping duties are imposed on Turkish flour. Two lobby groups of bakers have warned that they will increase the price of pandesal from P3 to P3.50 per piece if government decides to impose a 20 percent dumping duty on Turkish flour, which the bakers apparently have been using. They have in fact already petitioned the Department of Agriculture and the Tariff Commission not to impose the dumping duties. Aside from entering the country at dumped prices, this is the same Turkish flour which in the past has been pestered by health and safety issues. Dumping, a special case of price discrimination, is a situation in which the price a firm charges for its goods in a foreign market is lower than either the price it charges in its home market or the production cost. Dumping thus is the sale of surplus output of a firm on foreign markets at below cost price. Dumping also occurs when a firm sells its products at a higher price in the home market and at a lower price in the foreign market. (http://www.economicsconcepts.com/dumping.htm) In 2012, Turkish flour was sold to the Philippines at $340 per metric ton while their domestic price in Turkey was $470 per ton. In 2011, the export price of Turkish flour Read More …

Biz groups urge gov’t to honor contracts with water firms

 Economy
Jul 202013
 
Biz groups urge gov’t to honor contracts with water firms

MANILA, Philippines – The government must adhere to contracts entered into with water concessionaires as doing otherwise may discourage the private sector from participating in the Public-Private Partnership (PPP) program, business groups said. In a joint statement, the Employers Confederation of the Philippines, Foundation for Economic Freedom, Management Association of the Philippines and the Philippine Chamber of Commerce and Industry expressed concern over calls for changes as well as cancellation of contracts with water concessionaires that have been aired, including by government agents. “Such statements, if accepted, could reinforce perceptions that there are risks to investing under the Philippine PPP program,” the groups said. The groups said they are of the view such scenario is not something the government intends to happen. “We, therefore, urge Philippine authorities to faithfully adhere to the terms of the concession agreements, including following the provisions on dispute settlement that call for international arbitration in the event of differences,” the groups said. They added that demands for tariff adjustments need to be framed strictly within the agreements, and be mindful of the public’s need not just for reliable clean water, sewage and sanitation services but also for other necessary infrastructure. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Water concessionaires Manila Water Co. Inc. and Maynilad Services Inc. are both seeking adjustments in water rates. Manila Water is seeking a P5.83 per cubic meter increase in its basic charge while Maynilad wants an P8.58 per cubic meter rate hike for 2013-2018. Earlier, advocacy group Read More …

Opportunities or bust?

 Economy
Jul 202013
 
Opportunities or bust?

Opportunity knocks on your door but once, we’re told. So how do you know when it’s the right opportunity for you? How do you know if you should take it or let it pass? I’ve had so many opportunities pass me by. I let those pass, for one or more reasons: the time wasn’t right, the economy wasn’t doing very well, and I had more important things to do. And then the familiar feeling would grip me. Maybe you’re familiar with it too – the feeling of regret. And then there are those rare moments when an opportunity came, and I responded in the positive; I grabbed it! It was really scary. I remember being offered the opportunity to invest and host the very first Dr. John C. Maxwell Conference in our country some eight years ago. The investment was great; I was at the lowest point of my life – I had to leave a business I helped started, and was deprived of commissions, profits and earnings – so I had to sell a piece of property. And I bet all the money in this venture. And it paid off! We filled Araneta Coliseum up to the bleachers section and the PICC Convention Hall the next day with people eager to learn leadership lessons. When the license to the training program was offered to our team, again, I grabbed the opportunity, which made me a professional business trainer and speaker. From an entrepreneur in the garments industry, I shifted Read More …

Green business thrives in Coron

 General
Jul 202013
 
Green business thrives in Coron

By Chit U. JuanPhilippine Daily Inquirer 10:56 pm | Saturday, July 20th, 2013 AL WHILE speaking at the Green Leaders Forum How would you combine your passion for photography, your love for the environment and your desire to keep your birthplace as pristine as when you first saw the light of day? Al Linsangan III surely has found a formula to do just that. And make some money in the process as well. I met Al during the Green Leaders Forum organized by the Calamianes Conservation and Cultural Network Inc. (CCCNI) and Society for Sustainable Tourism and Development Inc.  which started The Coron Initiative with the help of United Nations Environmental Programme (UNEP) THE OUTDOOR equipment store and photo studio in Coron town Al and his colleague Corrin “Chippy” Alarcon kept the attendees organized, took us to hosted dinners around town, made sure we experienced Kayangan Lake and Smith Beach, among many Coron attractions. Then, on our last evening, Al took us to his place of business which is housed in their ancestral home’s compound in the city center. He has a retail shop for outdoor wear, (mostly made in the Philippines) camera accessories, and gadgets, and with his wife May he also runs their tour agency just next door to the shop. His brother, another entrepreneur, runs a souvenir craft store around the corner. His hobby and passion is photography and this can be observed as soon as you land in the Busuanga airport. Most of the tarpaulins and Read More …

Meat-Free Favorites : Egg-Free Potato Salad

 Entertainment
Jul 202013
 

By Elena Johnson A simple summer favorite like potato salad can easily be made healthier by using an egg-free mayonnaise. Try Follow Your Heart’s Vegenaise or Earth Balance’s Mindful Mayo for a rich, creamy flavor without the artery-clogging cholesterol.  Leaving the skin on the red potatoes gives the dish added color and texture. This updated […]

PHILIPPINE CONSULATE GENERAL ATTENDS 27th ANNIVERSARY OF OLD FORT MACARTHUR DAYS 2013

 Entertainment
Jul 192013
 

Los Angeles, 16 July 2013 – The Philippine Consulate General in Los Angeles attended the 27th Anniversary of the Old Fort MacArthur Days held at the Fort MacArthur Museum and the Historic Osgood-Farley Battery Site in San Pedro, Los Angeles County on 13 July 2013. The Consulate representatives were led by Deputy Consul General Daniel […]

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