Meralco raises bond offer to P18.5 B

 Economy
Dec 102013
 
Meralco raises bond offer to P18.5 B

MANILA, Philippines – Manila Electric Co. (Meralco), the country’s biggest power distributor, has raised the amount of fixed rate bonds it would issue P18.5 billion from an earlier plan of P15 billion. In a disclosure to the Philippine Stock Exchange (PSE), Meralco said this was in response to the strong demand from retail investors.  “Meralco, upon the request of joint issue managers and joint lead underwriters, exercised P3.5 billion in the over allotment option of its debut bond offering following the strong demand from retail investors during the offer period,” Meralco said. As such, from a base offering of P15 billion, the total 12-year and seven-year bonds to be issued on Dec. 12, 2013 will amount to P18.5 billion, making it the largest single corporate bond issuance for the year, the company added. The 2020 bonds have an interest rate of 4.375 percent while the 2025 bonds will have an interest rate of 4.875 percent. Meralco tapped BPI Capital Corp. and First Metro Investment Corp. as joint issue managers and joint lead underwriters, with RCBC Capital Corp. and Philippine Commercial Capital Inc. as participating underwriters. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Philippine Rating Services Corp. (PhilRatings), a local credit rating agency, earlier assigned an issue credit rating of PRS Aaa to Meralco’s proposed debt A PRS Aaa rating is PhilRatings’ highest score reflecting minimal credit risk. It means that the obligor’s capacity to meet its financial commitments on the obligation is extremely strong.  “The rating takes into Read More …

Zambo siege was carried out by ‘misguided’ factions in MNLF – AFP official

 News
Dec 102013
 
Zambo siege was carried out by ‘misguided’ factions in MNLF – AFP official

A military spokesman said that the Armed Forces of the Philippines is “not against” the Moro National Liberation Front (MNLF) in general since the attack on Zamboanga City in September was carried out not by the whole group but by “misguided” factions led by the group’s founding chairman Nur Misuari. “We have a final peace agreement already with the MNLF and we are not against the MNLF… What happened in Zamboanga [was done by] factions of the MNLF, that they used violence to advance their goals which, to us, is unacceptable,” said AFP information chief Lt. Col. Ramon Zagala on Tuesday. “We believe that the MNLF still abides by the final peace agreement and that what happened in Zamboanga [was done] only [by] those misguided by Nur Misuari,” he added. Misuari and some of his men are wanted for the attack, which left over 200 people dead, most of them MNLF fighters. Although not physically present during the attack, Misuari allegedly ordered the siege as he accused the government of disregarding them in the peace negotiations it is conducting with the Moro Islamic Liberation Front (MILF). The rebels claimed last year’s signing of a Bangsamoro Framework Agreement between the government and the MILF sidelined the peace agreement the government signed with the MNLF in 1996. — Marc Jayson Cayabyab/BM, GMA News

Pacquiao denies he's a green card holder

 News
Dec 102013
 
Pacquiao denies he's a green card holder

Filipino boxing icon and Sarangani Rep. Manny Pacquiao, currently facing a tax evasion case, has denied that he is a green card holder, or that he even applied for one. “Mastercard lang meron ako. Mastercard lang ang hawak ko. Hindi ‘yun totoo na may green card ako,” Pacquiao said in a chance interview Tuesday, a day after journalist and blogger Raissa Robles raised the possibility that the world reknowned boxer may be a green card holder. Pacquiao said he only carries a P1 visa that allows him to professionally fight in the United States. “Meron akong P1, para pwede kang lumaban, kumita doon,” he said. He added that he has no desire to leave the Philippines, and has in fact rejected his children’s request to study in the US. “Ayaw ko nga pag-aralin mga anak ko sa America,” Pacquiao said. “Yung mga anak ko nga gusto mag-aral sa America, hindi ko pinayagan.” God bless them But while exasperated over the issue of his supposed immigrant status, Pacquiao said he wishes no ill over those who have insinuated that he is a green card holder. “Ipasadiyos ko na lang. May Panginoon naman tayo. We have no right to revenge. Ang Panginoon lang ang may karapatan,” he said. The issue about Pacquiao applying to be a US immigrant erupted days after his tax woes played out in the media. Robles, in her blog, said she was tipped off by a commenter that Pacquiao was mentioned as a  “successful (US) immigrant” on the Read More …

82 of 96 pass Optometrist Licensure Exam – PRC

 News
Dec 102013
 
82 of 96 pass Optometrist Licensure Exam – PRC

A total of 82 out of 96 passed the Optometrist Licensure Examination given by the Board of Optometry in Manila this month, according to the Professional Regulation Commission (PRC) on Tuesday. [Click here for list of passers.] Meanwhile, two out of three examinees passed the Special Certification Examination in Ocular Pharmacology for Optometrists given also this month. They are: 1. Almonte, Gemma Chua2. Corneta, Roy Lasalita The PRC said registration for the issuance of Professional Identification Card (ID) and Certificate of Registration will start on December 13, 2013.  The date and venue for the oathtaking ceremony, however, will be announced later. — KBK, GMA News 

Kerry to tour typhoon-hit Philippines, Vietnam

 News
Dec 092013
 
Kerry to tour typhoon-hit Philippines, Vietnam

US Secretary of State John Kerry is to make his first visit to the Philippines since taking office to see first-hand the damage left by last month’s typhoon, and will also tour Vietnam where he fought during the war. Kerry’s next trip from December 11 to 18 will start on Wednesday, his 70th birthday, when he flies to Israel and Ramallah. But he will then travel to Ho Chi Minh City and Hanoi, before heading to Manila, and the storm-hit city of Tacloban, a US official said Monday. Since becoming the top US diplomat in February, Kerry has dreamed of returning once again to the country where his political activism was forged in the horrors of the Vietnam War. He had also planned to visit the Philippines back in October, but the trip had to be cancelled at the last minute as Tropical Storm Nari bore down on the Southeast Asian nation. “Within the Asia-Pacific rebalance, Southeast Asia holds special importance, and the secretary’s travel to Vietnam and the Philippines demonstrates the enduring US commitment… to the region,” State Department spokeswoman Jen Psaki said. It will be Kerry’s fourth trip to Asia while in office. In Ho Chi Minh, the city once known as Saigon which fell to the communist North Vietnam forces in April 1975, Kerry will “underscore the growth of our bilateral trade relationship and the empowering role of education.” He would also visit the Mekong Delta to show how “Americans and Vietnamese can work together on critical Read More …

8 TRADITIONAL CHRISTMAS DISHES

 News
Dec 092013
 
8 TRADITIONAL CHRISTMAS DISHES

‘Tis the season for the merry Pinoy food! Here are 8 dishes that will most likely be on our checklist this Christmas. Ushering the start of simbang gabi or the traditional misa de gallo is the huff puffing of steam coming from the puto bumbong cylindrical bamboo steamers outside churches. READ FULL STORY

New pact allows information cooperation, exchange between Phl and Myanmar media

 Entertainment
Dec 092013
 
New pact allows information cooperation, exchange between Phl and Myanmar media

His Excellency U Thein Sein, President of the Republic of the Union of Myanmar,is being escorted by Department of Agriculture Sec.Proceso Alcala during the wreath-laying ceremony at the Rizal Monument in Manila on Thursday, the 2nd day of his state visit to the Philippines. (MNS photo) MANILA (Mabuhay) — Media entities in the Philippines and Myanmar can now strengthen their information cooperation following the signing of a memorandum of understanding in Malacañan Palace on Thursday. The memorandum of understanding was signed on the second day of Myanmar President Thein Sein’s state visit to the Philippines. Signing it were Presidential Communications Operations Office head Herminio Coloma Jr. and Myanmar Deputy Minister for Information Ye Htut. The MOU provides for an exchange of visits of journalists, cooperation between private radio and TV networks, and sharing of best practices in media’s role in national development and the peace process. It covers news exchanges, radio and television broadcasting, film industries, public relations, printing and publishing. (MNS)

Enrile: You can’t force me to resign

 Entertainment
Dec 092013
 
Enrile: You can’t force me to resign

Senate Blue Ribbon Committee, poses questions to Janet Lim-Napoles, alleged pork barrel scam mastermind during the hearing on Thursday (Nov. 7, 2013) at the Senate building in Pasay City. (MNS photo) MANILA (Mabuhay) – Senate Minority Leader Juan Ponce Enrile will not be resigning anytime soon after allegedly funneling his pork barrel funds to fake non-government organizations linked to Janet Lim Napoles. Enrile said he will not follow the example of Customs Commissioner Ruffy Biazon who resigned after being included in the second batch of cases filed in connection with the P10 billion pork barrel scam. The minority leader said Biazon resigned out of delicadeza and his decision should be respected. Enrile said lawmakers like himself who have been linked to the scam cannot be likened to Biazon. He said he cannot be forced to resign because he was voted into office, unlike presidential appointees whose alleged wrongdoings would embarrass the President. Enrile said he is ready to face the complaint filed against him before the Office of the Ombudsman and that he is innocent of any crime unless proven guilty. He, however, conceded that he cannot win in the court of public opinion. Enrile is one of 39 individuals who were included in the first batch of cases filed by the Department of Justice in connection with the pork scam involving Janet Lim Napoles. The scam allegedly involved the funneling of lawmakers’ priority development assistance funds to fake NGOs set up by Napoles. A Commission on Audit report earlier Read More …

Subic firm supplies world-class shelters for “Yolanda” victims, relief crew

 Entertainment
Dec 092013
 
Subic firm supplies world-class shelters for “Yolanda” victims, relief crew

Actors and television host German “Kuya Germs” Moreno and Jake Vargas grace the Christmas tree lighting and fireworks display at the Tutuban Center in Divisoria, Manila.(MNS photo) SUBIC BAY FREEPORT (Mabuhay) – A Subic-based company is also helping rehabilitate areas devastated by super typhoon “Yolanda” (Haiyan) by constructing strong, light-weight tents for use by both victims and relief workers. Subic Bay Metropolitan Authority (SBMA) chairman Roberto Garcia said that Delta Production Philippines Corporation is sending at least 30 units of temporary shelters to TaclobanCity and other areas in Eastern Visayas that were visited by the recent calamity. “We are proud that the ingenuity and innovation of Filipino workers manufacturing these temporary shelters are being recognized world-wide,” Garcia said. “We are doubly pleased that these same Subic-made products are being put to good use in reaching out to our kababayans (countrymen) in their time of need,” he added. A registered company inside this Freeport zone, Delta is the manufacturer of easy-to-install, flexible scaffold systems and temporary shelters that are made mostly of steel and aluminum. The company is playing a significant role in providing its client, the World Food Program (WFP), with world-class temporary shelters that can accommodate up to 400 or 500 individuals each. Delta special project and sales manager Jon Allen Eschenburg said that the company is now working double-time to deliver on time collapsible tents ordered by WFP for shipment to typhoon victims and responders in Tacloban and other areas. Eschenburg said the tents, which have a standard Read More …

PHL cuts 2014 import, export targets

 Entertainment
Dec 092013
 
PHL cuts 2014 import, export targets

President Benigno S. Aquino III presides over the Task Force Yolanda Reconstruction and Rehabilitation Plan Meeting at the Aguinaldo State Dining Room of the Malacañan Palace on Friday (November 29). (MNS photo) MANILA  (Mabuhay) – The Philippines on Friday lowered its import-export targets for 2014, citing lingering uncertainties in global demand – particularly from advanced economies led by the United States, a member of the Cabinet-level Development Budget Coordination Committee said. The DBCC, which manages the Philippine macroeconomic program, cut the exports target to 6 percent from 11 percent as originally programmed and brought import goal to 5 percent from 13 percent. The revisions were done after giving the latest demand indicators were given a closer look and Bangko Sentral ng Pilipinas modified the computations for the balance of payments, said Socio-Economic Planning Secretary Arsenio Balicasan, who sits on the budget committee. However, Budget and Management Secretary Florencio Abad, who also chairs the DBCC, said government is keeping its 2 percent deficit to GDP (gross domestic product) target for 2014, citing the Philippines’ strong fiscal position and better tax collections. The Aquino administration has enough leeway to absorb additional expenditures to cover post-Yolanda reconstruction while keeping deficit spending within original target, he added. (MNS)

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