April 2014 – Page 39

Win over Pacquiao brought dark days for Bradley

Apr 142014

By Rebecca BRYAN Manny Pacquiao connects with a right to the head of Timothy Bradley in their WBO world welterweight title fight Saturday, June 9, 2012 at the MGM Grand Garden Arena in Las Vegas. Pacquiao landed more power punches and appeared to have won most of the 12-round fight.(MNS Photo) LAS VEGAS, (AFP) – The vitriolic abuse that Timothy Bradley received after his controversial triumph over Manny Pacquiao had him contemplating not only ending his boxing career but even his life, Bradley said Wednesday. The unbeaten American should have been on top of the boxing world after claiming the World Boxing Organization welterweight world title with a 12-round split decision over Filipino ring icon Pacquiao. But most observers thought Pacquiao clearly won the fight, and the controversy that erupted left Bradley living through what he called the “darkest time in my life”. “Did I consider suicide? Hell yeah,” said Bradley, who is looking for redemption in Saturday’s rematch with Pacquiao. “I was thinking I don’t want to box anymore – I don’t even want to live anymore,” said Bradley, who recalled receiving hate mail, even a death threat, letters “belittling me, saying ‘You’re not a true champion.’” He recalled strangers at gas stations, flinging insults as they drove away, and was still bemused by one so-called fan who asked him this year who he was fighting next. When he told her he’d face Pacquiao this month, she said she hoped he won this time. “And that was one of Read More …

BPI Family maintains thrift bank leadership

Economy

Apr 142014

BPI Family maintains thrift bank leadership

MANILA, Philippines – BPI Family Savings Bank, the consumer lending arm of Ayala-led Bank of the Philippine Islands, has maintained its leadership position in the thrift bank industry in 2013, with total loans amounting to P147 billion. In its annual report, BPI Family said the loans level last year was 16 percent higher than a year ago. Its home loan portfolio grew19 percent, while homeland releases expanded 17 percent. In the first half of this year, strategic partnership with real estate organizations were forged, which made possible, among other things, linking to each other’s website to help complete the process of home acquisition. Potential homebuyers can, through a partner real estate firm’s website, use a home mortgage calculator powered by the bank. Last year, BPI Family Auto Loan’s Online Auto Financing System embedded in the websites of partner car manufacturers and dealers served to more conveniently assist potential car buyers choose the best and most suitable car financing package. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The system now offers a complete car-buying process, with its First-Car Plan offering special deals and discounted rates on starter models from partner-car makers. BPI Family’s loans for business format franchising also registered growth in 2013. Partnerships in the Ka-Negosyo Program have resulted in an eight percent increase in small and medium enterprise (SME) loan volume. In line with its Ka-Negosyo Franchising Program, the bank introduced the Ka-Negosyo Franchise Finder, an interactive directory of franchise businesses that visitors could search for updated Read More …

AirAsia Zest, Robinsons tie up for cash payment system

Economy

Apr 142014

AirAsia Zest, Robinsons tie up for cash payment system

MANILA, Philippines – Low cost carrier AirAsia Zest, jointly owned by Philippines AirAsia and Zest Airways, has tied up with Robinsons Inc. AirAsia Zest commercial chief Gerard Peñaflor said the partnership would help the airline expand its cash payment system but tapping the 40 branches of Robinsons Department Stores all over the country. Peñaflor said the airline’s cash payment partner service provides the convenience of paying cash at any Robinsons Department Store for airline seats and other online purchases at www.airasia.com. “We are expanding our cash payment partner service to include Robinsons Department Store to provide optimum convenience for our guests and allow them access to our low fares and other exclusive online bargain deals without using their credit or debit cards,” he said. Cash payment partner service covers all AirAsia Zest flights to and from Manila to domestic and international destinations in Malaysia, China and Korea. Robinsons Department Store general manager Johnson Go said the partnership would benefit close to 120 million yearly shoppers of Robinsons who may opt to pay their airline tickets in the branches. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “AirAsia Zest supports our vision of providing Filipinos with affordable and world-class products and services, which makes them a great partner for us and will benefit our over 120 million annual store visitors. Both brands excel in offering the best value and utmost convenience for customers,” Go added. AirAsia Zest cash payment service involves three easy steps. First, passenger books a flight through Read More …

DoubleDragon sees P5-B income in 6 yrs

Economy

Apr 142014

MANILA, Philippines – Newly-listed DoubleDragon Properties Corp. of Mang Inasal founder Edgar “Injap” Sia II and Jollibee Foods owner Tony Tan Caktiong is targeting to hit the P5-billion income mark in six years. The strong profit growth will be driven by the CityMall community malls, its top executive said yesterday. “With all the DoubleDragon projects in the pipeline executed, DoubleDragon aims to reach P1 billion net income level by 2016,” Sia said in an e-mail. He added that the company’s earnings will reach P4.8 billion by 2020. In 2013, DoubleDragon’s net income jumped 32 percent to P126.63 million from P92.48 million, almost entirely coming from residential sales. DoubleDragon aims to reach one million square meters (sqm) of total leasable space portfolio by 2020, of which 700,000 sqm is expected to come from the planned 100 CityMall community malls, mostly in the Visayas and Mindanao. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 In a disclosure yesterday, the property company said it has firmed up the initial foray of its community malls unit into Mindanao. DoubleDragon said its subsidiary CityMall Commercial Centes Inc. (CMCCI) signed an investment and shareholders agreement with Galleria Zamboanga Inc. (GZI). The deal facilitates “the construction of two CityMall community malls in different prime locations in Zamboanga City” in the second quarter, DoubleDragon said. Under the agreement, CMCCI and GZI will form joint venture company Prime DDG Commercial Centers Inc. to serve as the corporate vehicle for the ownership of the CityMalls in Zamboanga City. GZI Read More …

Villar eyes Starmall expansion

Economy

Apr 142014

ILOILO , Philippines – The Villar Group plans to expand its Starmalls from five to 22 in the next few years, former senator Manuel Villar Jr. told The STAR yesterday. Villar said he is focusing on handling the family business with the end of his term as senator. “As we continue to expand Camella Homes all over the country, we are also building more Starmalls nationwide,” said Villar, who went to Iloilo last weekend to lead the Light of Peace that aimed to get the Guinness World Record for having lighted the most number of candles for world peace. As a matter of procedure, Starmalls Inc – being a publicly listed company – has notified the Philippine Stocks Exchange (PSE) about the plans. Starmall continues to expand its mall chain, with four more new shopping centers slated for opening in the next few months. These branches are those in Taguig City, Imus and Molino in Cavite and Sta. Rosa in Laguna. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 There will also be re-development projects at existing Starmalls in EDSA-Shaw, Alabang in Muntinlupa, Las Piñas and San Jose del Monte in Bulacan. The Starmalls project is different from Vistamalls known as Evia which is home to a range of newly built residential estates and growing commercial hubs. Evia caters to the high-end, European inspired Portofino by Brittany, to mid-range Ponticelli by Crown Asia, and affordable Camella Cerritos, the opportunity of home ownership in a master-planned urban setting is open Read More …

PLDT to sustain growth in wireless broadband

Economy

Apr 142014

PLDT to sustain growth in wireless broadband

MANILA, Philippines – Dominant carrier Philippine Long Distance Telephone Co. (PLDT) is confident of sustaining the momentum of its wireless broadband service that booked strong growth last year. PLDT HOME Fixed Wireless Solutions head Ava Española said the revenues of Home Bro reached P4.5 billion since 2012. “This 2014, we continue this thrust as we launch our new bundles to respond to the needs of families for laptops and printers in their homes so that kids no longer go out to accomplish their school assignments,” Española said. Launched last January 2014, one of HOME Bro’s new bundle offers is Plan 1799 which gives subscribers unlimited Internet at 2 megabites per second, an HP Laptop, and an HP printer for just P60 per day. At the same time, Plan 1069 which comes with unlimited internet at 2 Mbps and an HP printer, was also launched. “With the continuous growth in revenues and subscribers of HOME Bro, we are offering more innovative plans and bundles for all our customers,” Española stressed. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 HOME Bro is a service that provides subscribers with high-speed broadband for the home. It uses PLDT’s nationwide network to wirelessly deliver internet service to Filipino families. It made several process enhancements last year to ensure applications could be processed and activated within 24 hours. Together with these improvements, she added that the brand also introduced low-cost plans for first time internet users with basic internet needs with a full marketing campaign Read More …

Glencore mulls Tampakan fate after sale of Peru stake

Economy

Apr 142014

Glencore mulls Tampakan fate after sale of Peru stake

MANILA, Philippines – Commodities giant Glencore Xstrata Plc has finally sold its interest in Las Bambas mine in Peru, clearing the way for the company to determine the direction of its other copper assets such as the troubled Tampakan copper-gold project in Mindanao. Glencore has sold its entire interest in the Peruvian copper mine for $5.85 billion to a Chinese consortium composed of MMG Limited, Guoxin International Investment Corp. Limited and Citic Metal Co., Ltd. Glencore sold Las Bambas to secure the approval of Chinese anti-trust authorities for its merger with Anglo-Swiss miner Xstrata as copper-hungry China feared the merged entity would have considerable control over the world copper supply. The sale, which is expected to close in the third quarter of 2014, is still subject to the approval of state regulators as well as the shareholders of MMG Limited. Prior to the sale, Glencore has expressed interest in divesting its majority interest in the $5.9 billion Tampakan project consistent with its preference not to develop greenfield projects. The Tampakan project was initially included in the list of other copper assets projects that may be disposed of in the event that the Las Bambas mine is not sold. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Glencore’s minority partner in the project, Indophil Resourses NL, has expressed interest in acquiring full ownership of Sagittarius Mines Inc. (SMI), the operator of the prospective mine. Glencore holds a 62.5 percent interest in the the project operator Sagittarius Mines Inc. (SMI) while Read More …

Govt asked to act on war vets’ unpaid benefits

Entertainment

Apr 142014

Govt asked to act on war vets’ unpaid benefits

President Benigno S. Aquino III, accompanied by Armed Forces of the Philippines (AFP) Chief of Staff General Emmanuel Bautista, troops the line upon arrival at the Dambana ng Kagitingan, Mt. Samat Shrine in Pilar, Bataan on Wednesday (April 9, 2014) for the 72nd Commemoration of the Araw ng Kagitingan (Day of Valor). This year’s theme is: “Balik-Tanaw sa Sakripisyo ng Beterano, Gabay sa Landas ng Pagbabago.”(MNS photo) MANILA (Mabuhay) – The government should act on over P20 billion in unpaid benefits for Filipino war veterans and their dependents, a senator said Wednesday. On Araw ng Kagitingan, Senator Antonio Trillanes IV, a former Navy officer, said government funding in the last three years have not been enough to cover all war veterans, despite a 20-year-old law standardizing benefits for them. “Republic Act 7696 was enacted in recognition of the relevant role our war veterans and military retirees played in protecting the country. However, a number of them have died without enjoying the benefits due to lack of government funding because it was not specified under the law,” Trillanes said. The senator was referring to a legislation passed in 1994, which specified entitlements for military veterans and their dependents. According to Trillanes, the government’s total obligation to war veterans reached P25 billion in 2010. The administration only allocated P170 million for military veterans that year, and P2.9 billion in 2013. To address the shortfall, Trillanes is asking the Senate to pass Senate Bill (S.B.) 166, which proposes paying war veterans’ benefits through Read More …

Doctors’ group commits to pay correct taxes

Entertainment

Apr 142014

Doctors’ group commits to pay correct taxes

The government ads, which ran in Manila newspapers on Sunday, showed a female teacher lecturing in front of her class with a woman in a medical suit holding a doctor’s clipboard sitting on her shoulders. MANILA (Mabuhay) – Members of the Philippine College of Physicians (PCP) has given their support to the Bureau of Internal Revenue’s (BIR) efforts for greater tax compliance among medical doctors. In a statement, PCP President Priscilla B. Caguioa said: “Foremost in our tasks and responsibilities as medical doctors is to serve, guided by our moral obligation to provide the optimum care to individuals who are in need. We, in the PCP, have fought for necessary reforms to clean our own ranks. We have been successful doing so, but not without the government’s cooperation and encouragement.” Because of these reforms, the group saw a “palpable increase” among members in their issuance of receipts, reliable maintenance of records, VAT registration, as well as the payment of taxes. “Honest compliance is part and parcel of the ethical responsibilities of any professional in contributing his or her share in nation building,” Caguioa said. She noted the PCP was at the forefront of pushing for the passage of the Sin Tax Law. “Apart from the campaign’s obvious health components and effects, PCP’s sin tax advocacy resulted in the increase in taxes imposed on tobacco and alcoholic beverages. The effort would not have succeeded without its partnership with the BIR, among others,” she said. Because of the Sin Tax Law, the Read More …

PHL to review export policy on firearms following US state senator's smuggling case

News

Apr 142014

PHL to review export policy on firearms following US state senator's smuggling case

No firearms had been shipped out of the Philippines around the time US State Senator Leland Yee was said to be smuggling firearms from the country to the US, according to the Bureau of Customs. Just the same, reports of the supposed smuggling of firearms have prompted the BOC to review existing procedures in the exportation and importation of such weapons in the Philippines. “Wala kaming findings of declared (firearms shipment) nung time na iyon, supposedly out of Mindanao lumabas yung guns. Nag-check kami doon sa aming port collectors sa Cagayan de Oro as well as other ports, walang ni-report, walang dineclare na exports of firearms at the time,” BOC Commissioner John Philip Sevilla said on Monday. According to the Federal Bureau of Investigation (FBI), Yee was part of a conspiracy to deal firearms without a license. The firearms were supposed to be sourced from a separatist group in the Philippines. Yee was arrested in March on charges of corruption and alleged conspiracy to illegally trade in firearms. The FBI also claims that Yee has associates in the Philippines “trying to overthrow the current government.” “Ngayon, ang pinapa-check namin is ano ba yung mga existing procedures ngayon regardless of what port para masiguro natin na… hindi rin nakakalabas ng Pilipinas yung contraband,” Sevilla said. Sevilla admitted that the government is “focused” more on monitoring the importation rather than exportation of products in the Philippines. “This is a good reminder na ito pwede ring magkaroon ng illegal activity pagpalabas ng products,” Read More …

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