URC acquires NZ snack food firm

 Economy
Jul 212014
 
URC acquires NZ snack food firm

MANILA, Philippines – Snacks and beverage giant Universal Robina Corp. (URC) of the Gokongwei family is taking over the leading biscuit and snack food company in New Zealand for NZ$700 million (roughly P26.4 billion), marking its largest acquisition to date. The acquisition jumpstarts URC’s goal of becoming a major regional player while continuing the trend of Philippine firms buying established companies abroad. In a regulatory filing, URC said its wholly owned offshore subsidiary URC International Co. Ltd. entered into an agreement to acquire 100 percent of NZ Snack Food Holdings Ltd. (NZFHL) from management and funds advised by Pacific Equity Partners. “The transaction is valued at NZ$700 million and is subject to approval by New Zealand’s Overseas Investment Office,” URC said. NZFHL is the holding company of Griffin’s Foods Ltd., New Zealand’s leading biscuit and snack food company with approximate net sales and earnings before interest, taxes, depreciation, and amortization of NZ$280 million and NZ$78 million, respectively. “In recent years URC has been looking for opportunities to explore potential acquisitions and partnerships in line with our vision to be a significant regional player in snack foods and beverages,” said URC president and CEO Lance Gokongwei. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 While URC has already built strong brands, the strategy is to continue offering existing consumers and markets in Southeast Asia and Greater China with innovative, convenient, lifestyle-focused and on-the-go products, Gokongwei added. “Griffin’s board believes URC’s significant experience in developing its own export markets makes it Read More …

Proposed P7.2-B budget terminal in Clark to be presented to NEDA

 Economy
Jul 212014
 
Proposed P7.2-B budget terminal in Clark to be presented to NEDA

MANILA, Philippines – The Clark International Airport Corp. (CIAC) is set to present to the National Economic and Development Authority (NEDA) the master plan for the aerotropolis and the feasibility study for the proposed P7.2-billion low cost carrier (LCC) terminal in Pampanga. Transportation Secretary Joseph Emilio Abaya said the master plan and feasibility study prepared by Aeroports de Paris (ADP) of France would be presented to the NEDA-Investment Coordination Committee next month. “ADP presented its concept design for a new LCC terminal to DOTC and CIAC officials last month, and CIAC is now scheduled to present this proposal to the NEDA-ICC in August,” Abaya said. According to Abaya, the P417-million improvement project of the existing passenger terminal building at the Clark International Airport was completed last May raising the annual passenger capacity from 2.5 million to four million. The project increased the size of the building to 19,799 square meters from 11,439 square meters. Likewise, the number of check-in counters was also increased to 34 from 13 with the addition of 12 departure counters and five arrival counters to accommodate more passengers and ease queuing. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The modernized portion of the terminal itself has eight entry points and three customs stations allowing the international airport to accommodate more international flights from Qatar Airways and Emirates. On the other hand, Abaya said the proposed new budget terminal would further boost the capacity of the international airport to between eight and 16 million passengers Read More …

Wedding planners open S’pore expo to promote Phl as wedding venue

 Economy
Jul 212014
 
Wedding planners open S’pore expo to promote Phl as wedding venue

MANILA, Philippines – Philippine wedding planners will formally open an exposition in Singapore to showcase world-class Filipino talent and promote the Philippines as a prime international wedding destination. The event, dubbed “Philippine Weddings @ Singapore,” is a two-day expo opening on July 27 at the Raffles Convention Center in Singapore jointly organized by Destination Events & Business Solutions (DEBS) and the Philippine Association of Wedding Planners (PAWP). DEBS president Giselle De Leon said they are grateful for the support the Philippine government is extending to the expo.  “Since his appointment in May, Philippine Amb to Singapore Antonio Morales has been aggressively pushing for stronger economic ties between the Philippines and Singapore. His presence at the expo is a strong sign that our government now sees a lot of economic potential in the wedding industry,” De Leon said. For her part PAWP president Liza Alviedo said: “By going international, we are sending a strong signal that the Philippine wedding industry is now ready to provide services at the highest level.  There is a large of pool of talent in the country that is just waiting to be tapped.” The expo, the first in a series of international roadshows stretching to January next year, will feature more than 50 companies involved in the wedding industry that are currently providing services across the country. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Among the participating companies include those in fashion design, photography, catering, jewelry, hotels, and resorts. De Leon said the companies Read More …

Ayala-Aboitiz tandem asks Palace to dismiss CALAX appeal of SMC

 Economy
Jul 212014
 
Ayala-Aboitiz tandem asks Palace to dismiss CALAX appeal of SMC

MANILA, Philippines – The tandem of Ayala Corp. and Aboitiz Land Inc. has asked Malacanang to dismiss the appeal filed by San Miguel Corp. (SMC) regarding its disqualification in the bidding for the P35.4 billion Cavite-Laguna Expressway (CALAX) project held last month. Team Orion, a 50-50 joint venture between Ayala’s AC Infrastructure Holdings Corp. and Aboitiz Land, submitted to the Office of the President a comment on the Memorandum of Appeal filed by SMC last June 27 appealing the disqualification of Optimal Infrastructure Development Inc. Team Orion spokesperson Roman Azanza III said the group earlier filed a Motion to Intervene with Malacanang to inform the public about the ongoing dispute in the award of the infrastructure project. “We believe that nobody or no entity should ever be allowed to undermine the bidding process. There are rules and procedures that must be followed in a public bidding. If we do not follow it, and if we let errant participants act outside of the rules of a public bidding process, then the whole process will lose credibility,” Azanza said. He warned that the controversy puts in peril close to P900 billion worth of major infrastructure projects  under the Aquino administration’s PPP scheme. “We stand more to lose as a nation if we do not respect our own bidding rules and procedures. We need to keep the hard-earned confidence of investors in the stability and integrity of our public bidding process,” he said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “Losing Read More …

Aerospace, e-vehicle sectors prepare road maps

 Economy
Jul 212014
 
Aerospace, e-vehicle sectors prepare road maps

MANILA, Philippines – The aerospace and electric vehicle industries aim to grow their revenues and sales in the long-term under their respective roadmaps. According to the Department of Trade and Industry (DTI), the Aerospace Industries Association of the Philippines (AIAP) and the Electric Vehicle Association of the Philippines (EVAP) are set to present their respective industry roadmaps on Thursday. Under the aerospace manufacturing industry roadmap, the AIAP is proposing a long-term of goal of “establishing the country as an aerospace manufacturing hub in ASEAN (Association of Southeast Asian Nations).” As the AIAP aims to make the country a manufacturing hub in the region, it is also targeting to increase its revenues to $1.429 billion by 2022 from the estimated $385 million in 2013. The AIAP also wants to increase its employment by generating 8,300 direct jobs by 2022 from the 2,200 jobs it offered last year. The industry plans to build international capability and expand markets with government support. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The local aerospace industry dates back to 1941, when flag carrier Philippine Airlines marked its first flight, making the country one of the pioneers in the aviation industry in Asia. The industry has then expanded into aerospace parts manufacturing. At present there are three key players in aerospace manufacturing present in the country they are: MOOG Controls Corp., B/E Aerospace and Jamco Aerospace Inc. Meanwhile, the EVAP intends to promote the use of EVs for eco-friendly and efficient transport in the country. Read More …

BOC reminds importers and brokers on July 31 accreditation deadline

 Entertainment
Jul 212014
 
BOC reminds importers and brokers on July 31 accreditation deadline

(Bureau of Customs logo) MANILA (Mabuhay) – The Bureau of Customs (BOC) has given importers and brokers until July 31, 2014 to submit their accreditation, and failure to do so would prohibit th em from transacting business with the agency. With this, Customs Commissioner John Sevilla noted that there will be no second extension of the deadline which was originally set last June 30. “It is highly unlikely that there will be another extension, as we have already given brokers and importers ample time to understand the new policies on accreditation and complete the prerequisite documents,” he said. Based on the data from the BOC-Account Management Office (AMO), as of July 14, 2014, only 34 percent or 5,039 have so far applied for accreditation out of the 14,995 accredited brokers and importers. He added, “We strongly urge brokers and importers to get accredited or they will lose their ability to transact with Customs.” All brokers and importers who would like to import goods into the Philippines must be accredited with the BOC allowing them to be registered in the Client Profile Registration System (CPRS) of the BOC that will enable them to file import entries. With the implementation of the new rules, the bureau is looking to close the loopholes in importation procedures as part of the government’s efforts to address the smuggling activities in the country. Importers and brokers are required to apply for accreditation with the Bureau of Internal Revenue (BIR) for the issuance of their respective Importer Read More …

MAFFAA’s Noli Me Tangere, The Opera at the Kennedy Center on August 8-9

 Entertainment
Jul 212014
 
MAFFAA’s Noli Me Tangere, The Opera at the Kennedy Center on August 8-9

By Angelita  Felixberto Noli Me Tangere The Opera Washington D.C. : For the first time, Jose Rizal’s famous novel “Noli Me Tangere” will be staged at the Kennedy Center in Washington D.C. as an OPERA on 8-9 August 2014. The opera will be presented at the John F. Kennedy Center in Washington, DC, by the Mid-Atlantic Foundation for Asian Artists (MAFFAA) in coooperation with its major sponsor, the Migrant Heritage Commission (MHC). After the Washington DC showing, Noli Me Tangere The Opera is slotted for twenty one shows from September 11 through 28, 2014 at the Resort World Manila, Manila, Philippines. The Noli Me Tangere The Opera first premiered in Chicago in 2012, through the KGB Productions. From Chicago it was then brought to New York by the Foundation for Filipino Artists, Inc. (FFAI) chaired by Loida Nicolas-Lewis, as part of the 25th anniversary celebration of Filipino-American History Month. Inspired A Revolution The “Noli Me Tangere” published in 1887, indirectly inspired a revolution, as the novel exposed the inequities of the Spanish Catholic priests and the ruling government. The work also paved the way for a national consciousness, national identity and brought to a pedestal, the personification of the ideal Filipina woman as someone who has unwavering loyalty to her spouse. “Noli Me Tangere” was noted for having lampooned, caricatured and exposed the various social ills during the colonial history of the Philippines. “Noli Me Tangere,” in Latin, means “Touch Me Not” and it refers to John 20:17 in the Bible as Mary Magdalene tried Read More …

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