May 312014
 
MPIC boosting Southeast Asian exposure

MANILA, Philippines – Infrastructure conglomerate Metro Pacific Investments Corp. (MPIC) is increasing its exposure in Southeast Asia through its tollroad and water distribution units. MPIC intends to pursue new investment opportunities in the Philippines even as regulatory risks might dampen revenues of Maynilad Water Services Inc. by P2 billion annually in the medium term, officials said. “We continue to look at water and tollroad projects in the region, particularly Indonesia and Thailand. We are taking a prudent position by partnering with local firms,” MPIC chief financial officer David J. Nicol said during the company’s annual stockholders meeting. “The two businesses we’re attracted to are tollroad and water businesses. We have one in Thailand right now and we are evaluating opportunities in Thailand and Indonesia,” Nicol said. MPIC has taken a look at Myanmar but it still has to bear fruit, while Vietnam poses a number of opportunities but at high prices, Nicol said. In November, Hong Kong-based parent firm First Pacific Co. Ltd. and MPIC formed a joint venture to acquire a 24.9-percent stake in Thai tollroad operator Don Muang Tollway Public Co. Ltd (DMT) for P5.8 billion. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 DMT operates a 21.9-kilometer, six-lane elevated toll road stretching from Din Daeng in central Bangkok past Don Muang Airport and on to the National Monument in the north of the capital under a 27-year concession ending in 2034. MPIC president and CEO Jose Ma. K. Lim said the Thailand tollroad business is doing Read More …

May 312014
 
Ortigas taps DMCI anew for Capitol Commons condo

MANILA, Philippines – Ortigas & Co., one of the oldest property developers in the country, has moved forward with the construction of its latest upscale project, the 64-story residential condominium Royalton at the Capitol Commons. The property firm said it signed an agreement with D.M. Consunji Inc. for the structural and architectural works of the Royalton, making it Ortigas & Co.’s second residential project awarded to the construction firm. “This tower is one of our masterpieces inspired from architectural icons across the world. The tower has character: no unit will be the same because the design team carefully planned out each line and contour that went into the blueprint,” said Joey Santos, general manager of the real estate division of Ortigas & Co. “Royalton is a big challenge to us because if you look at the finished lines, each floor is not of the same di-mension, it’s like a wave,” said Jorge Consunji, president and chief operating officer of D.M. Consunji, which has a proven track record of more than 500 structures in its 50-year history. The Royalton tower features an eye-catching sinuous figure that appears to gracefully flow with the wind and its curves come from the unit balconies, which provide proper air circulation and shade from the afternoon sun. Ortigas & Co. expects P4 billion in sales from all 422 units of Royalton, which was launched in the fourth quarter of 2012. Each unit has a floor area ranging from 34-154 square meters, priced between P5.5 to 23.6 Read More …

May 312014
 
Construction rises in Q1

MANILA, Philippines – More construction activity was seen in the first quarter compared to a  year ago as the number of approved building permits climbed by more  than a fifth year-on-year, the Philippine Statistics Authority (PSA)  said.    Preliminary results of the PSA’s construction statistics for the  January to March period showed the total number of new construction  projects from approved building permits reached 29,468, up 20.8  percent from the 24,400 in the same period in 2013.    The new construction projects for the period were valued at P61.1  billion, a 4.3 percent increase from the P58.7 billion in the  comparable period last year.    Residential type-building projects accounted for the bulk of approved  building permits for the three-month period, which grew 17.1  percent to 20,498 from 17,502 during the same period of 2013.    The value of these residential projects rose two percent to P29.1  billion in the first quarter from the previous year’s P28.5 billion.    Approved building permits for non-residential constructions likewise  posted a 15.2 percent uptick to  to 3,496 as of end-March from 3,034 a  year ago.    Business ( Article MRec ), pagematch: 1, sectionmatch: 1 In terms of value, non-residential constructions, which amounted to P27  billion for the January to March period, went up y 6.9 percent from  P25.3 billion last year.      Permits for additions, alterations and repairs of existing structures  which reached 5,474 in the first quarter, are 41.7 percent higher than  the 3,864 in the same three-month period in 2013.    The combined value of additions, alterations and repairs Read More …

May 312014
 
Trillanes to run for higher office in 2016

Senator Antonio Trillanes IV will run for a higher position in the 2016 elections but did not disclose which position he is eyeing. “Kung anong posisyon yun specifically, we will abide by the Nacionalista Party,” he said in a “24 Oras” report aired on Saturday. He said that former senator Manuel Villar Jr., party president, has said the NP will make that decision in December. Trillanes is serving his second term at the Senate. A former Navy officer, Trillanes ran for the Senate in 2007 while detained over his participation in mutinies against the administration of President Gloria Macapagal-Arroyo. In 2010, President Benigno Aquino III signed a proclamation granting him and other members of the Magdalo amnesty for joining the 2003 Oakwood Mutiny, February 2006 Marine standoff and the 2007 Manila Peninsula incident. He joined the Nacionalista Party in 2012 and ran under the Liberal Party-led Team Pnoy coalition in the 2013 elections. — JDS, GMA News

May 312014
 
Palace welcomes release of Pinay, Chinese abducted from Sabah

Malacañang on Saturday welcomed the “release” on Friday of a Filipina resort worker and a Chinese tourist who were abducted from Sabah last April. Presidential Communications Operations Office head Herminio Coloma Jr also said the release indicates the Philippines’ cooperation with its neighbors is bearing fruit. “Ikinalulugod natin ang balitang iyan. Hindi tayo tumitigil sa paglaban sa aksyon na ganyang kriminalidad na nakakaapekto sa imahe ng ating bansa,” Coloma said on government-run dzRB radio. He also lauded the cooperation between Philippine and Malaysian forces in resolving “cross-border” issues such as international crimes. “Maaring matukoy dito ang mainam na pakikipag-ugnayan ng ating bansa at kapit-bansa tulad ng Malaysia at Indonesia sa pagresolba ng ganoong usapin,” he said On Friday evening, Malaysian media reported Marcelita Dayawan, 40, and Gao Hua Yuan, 29 – were rescued Friday morning. The report said the two were rescued from Jolo at 10:30 a.m., then brought to the east coast of Sabah. Sabah Police Commissioner Datuk Hamza Taib said both victims arrived there 4:30 p.m. On the other hand, the report did not say if the armed men behind the abduction were indeed from the Abu Sayyaf. Last April 2, armed men abducted Dayawan and Gao from the Singamata Adventures and Reef Resort. A separate report on Malaysia’s Bernama news agency said Prime Minister Datuk Seri Najib Tun Razak claimed no ransom was paid. He also thanked the security forces for successfully securing the release of the two victims, adding the government was taking steps to facilitate Read More …

May 312014
 
Abe vows greater Japanese security role in Asia

Japanese Prime Minister Shinzo Abe delivers his keynote speech on Friday, May 30, 2014 in Singapore. Abe delivered a keynote speech Friday at the Asia Security Summit in Singapore, known as the Shangri-La Dialogue, becoming a first Japanese leader to do so at the gathering. Security is a sensitive topic for Japan, once an aggressor in Asia, to discuss in the region. AP TOKYO — Japan wants to play a greater defense role in Asia to promote peace and prosperity amid tensions over territorial disputes, Prime Minister Shinzo Abe said Friday. In a speech in Singapore at the Shangri-La Dialogue, an international security conference, Abe raised concerns about escalating tensions in the South China Sea, and urged all countries in the region to observe the rule of law and not use force or threats. Abe also outlined new guidelines that will ease Japan’s self-imposed limits on military exports and defensive activities, and pledged to contribute more to the region in those areas, as well as through official development aid. “Japan intends to play an even greater and more proactive role than it has until now in making peace in Asia and the world more certain,” Abe said. He promised “seamless” support for Southeast Asian countries in defending their territories by combining defense programs and government aid. Abe said efforts “to consolidate changes to the status quo by aggregating one fait accompli after another can only be strongly condemned,” an apparent reference to China’s recent assertiveness in pressing its territorial claims in the region. He did Read More …

May 312014
 
PHL reaffirms support for World No Tobacco Day

The Philippines on Saturday reaffirmed its solidarity with the World Health Organization in observing “World No Tobacco Day” to promote health and wellness. Presidential Communications Operations Office head Herminio Coloma Jr. said the occasion should bolster public awareness of the health risks associated with tobacco use. “The Philippines joins the World Health Organization (WHO) today, 31 May, in observing ‘World No Tobacco Day’ that seeks to promote the reduction of tobacco consumption as a vital health and wellness measure.  This observance heightens public awareness on the health risks associated with tobacco use and advocates the adoption of effective policies to reduce tobacco consumption,” he said in a statement. On the other hand, he noted the WHO commended the Philippines as one of the countries in the world that pushed for reforms in the government’s health agenda by enacting the Sin Tax Law. The law, Republic Act No. 10351, restructured taxes on alcohol and tobacco products, with the proceeds going to the government’s health program. Also, Coloma said the Southeast Asia Tobacco Control Alliance (SEATCA), the tobacco control coalition in the ASEAN region, recognized President Benigno Aquino III and the Departments of Health and Finance for passing and implementing the law. Quoting a statement by SEATCA, he said the coalition recognized Aquino’s efforts in “inspiring leadership and unwavering political will to push forward a revolutionary sin tax reform law thereby putting public health before profits and ensuring tobacco control measures.” — Joel Locsin /LBG, GMA News

May 312014
 
Palace: COA won't compromise ‘Napolist’ for head's SC bid

Malacañang on Saturday expressed confidence the Commission on Audit will not compromise fairness in validating the so-called “Napo-list” even if its head Grace Pulido-Tan is among the candidates for Supreme Court justice. Presidential Communications Operations Office head Herminio Coloma Jr. said that while Tan is a presidential appointee and wants to be a SC justice, the COA is independent of the Executive Department. “Pansinin natin na ang tinutukoy na ahensya, ang COA, ay isang independent constitutional body ng ating pamahalaan. Ganyan ang nature ng COA, ayon sa mga humubog ng Saligang Batas. Kailangan independent ito mula sa ehekutibo,” Coloma said on government-run dzRB radio. “Dapat lang siguro kilalanin ang institutional integrity ng COA na hindi nababahiran dahil sa pagkakaroon ng appointing power ng pangulo,” he added. He also said it would not be fair to conclude that Pulido-Tan would be less than objective in scrutinizing the “Napo-list” in exchange for a shot at being the replacement of retired SC Justice Roberto Abad. Besides, he said it is the independent Judicial and Bar Council that would decide if Pulido-Tan is deserving of being included in the short list to be submitted to President Benigno Aquino III. Earlier, Pulido-Tan said the COA has started an investigation into the claims of the supposed mastermind of the alleged pork barrel and Malampaya fund scams Janet Napoles in her affidavit. Napoles had linked several incumbent and former lawmakers – as well as now Budget Secretary Florencio Abad – to the scam in her affidavit submitted Read More …

May 302014
 
Abe vows greater Japanese security role in Asia

Japanese Prime Minister Shinzo Abe delivers his keynote speech on Friday, May 30, 2014 in Singapore. Abe is in Singapore to attend the 13th Asia Security Summit. (AP Photo/Wong Maye-E) TOKYO — Japan wants to play a greater defense role in Asia to promote peace and prosperity amid tensions over territorial disputes, Prime Minister Shinzo Abe said Friday. In a speech in Singapore at the Shangri-La Dialogue, an international security conference, Abe raised concerns about escalating tensions in the South China Sea, and urged all countries in the region to observe the rule of law and not use force or threats. Abe also outlined new guidelines that will ease Japan’s self-imposed limits on military exports and defensive activities, and pledged to contribute more to the region in those areas, as well as through official development aid. “Japan intends to play an even greater and more proactive role than it has until now in making peace in Asia and the world more certain,” Abe said. He promised “seamless” support for Southeast Asian countries in defending their territories by combining defense programs and government aid. Abe said efforts “to consolidate changes to the status quo by aggregating one fait accompli after another can only be strongly condemned,” an apparent reference to China’s recent assertiveness in pressing its territorial claims in the region. He did not identify China by name, but praised the Philippines and Vietnam for their efforts to resolve the disputes through dialogue. Abe’s government has been trying to ease constitutional restraints on Japan’s military, which currently can Read More …