December 2014 – Page 10

Roxas Holdings posts 30% income hike

General

Dec 252014

MANILA, Philippines – Listed sugar miller Roxas Holdings, Inc. on Tuesday reported a 30 percent increase in its net income after tax for its fiscal year ending in September 2014 on higher sales of ethanol. The company reported a net income after tax of P615 million at the close of its cash year, up from P473 million in the same period last year. RHI chairman Pedro E. Roxas said the group’s ethanol sales rose to P1.5 billion on higher production of 32 million liters compared to a production of 14 million liters in the previous cash year. Through its subsidiary Roxol Bioenergy Corp. — that has a plant in La Carlota, Negros Occidental — RHI is gradually increasing the production of bioethanol to increase its contribution to company revenues from the current level of about 15- to 20-percent. RHI sells ethanol for gasoline blending requirements of oil companies Shell, Seaoil, and Petron. The company’s revenues for the period rose by 37 percent to P8.3 billion from P6 billion last year. Its earnings before interest, taxes, depreciation, and amortization (EBITDA), however, fell 5.31 percent to P1.69 billion. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 RHI has been making major investments since last year to improve its facilities and ensure better sugar recovery. The company’s board also approved last Dec. 5 the second tranche of the group’s annual 35 percent dividend payment amounting to P0.12 per share on Jan. 15, 2015 for shareholders on record as of Dec. 22, 2014. Read More …

Asean-EU experts cite Phl econ performance

Economy

Dec 252014

Asean-EU experts cite Phl econ performance

MANILA, Philippines – The Philippines’ economic performance was cited as “the most encouraging news in Southeast Asia to date” by academic and business sector representatives at an expert roundtable discussion on “Prospects for ASEAN-European Union relations” held recently in Brussels. Commenting on the current situation in ASEAN as a region, as well as in the individual member states, experts agreed that the Philippines is “a very attractive economy” and is also “in an enviable position” in terms of political stability and good governance. Philippine embassy deputy chief of Mission and consul general Robespierre Bolivar cited the Philippines’ performance in achieving targets related to the ASEAN Economic Community. He highlighted Philippine initiatives championed by President Aquino at the recently concluded 25th ASEAN Summit, including stronger foundations for regional integration, inclusive growth, and the rule of law. Organized by the EU-Asia Center, one of the leading Brussels-based think tanks dealing with Asian issues, the roundtable was convened to discuss possible directions the ASEAN-EU relationship could take in light of the change in the EU leadership and the impending completion of the ASEAN Economic Community by the end of 2015.

DTI pushes for growth of SMEs

Economy

Dec 252014

MANILA, Philippines – The Department of Trade and Industry (DTI) is pushing for the growth of small and medium enterprises (SMEs) for the country to achieve sustained long-term economic growth. Aside from education and infrastructure, the DTI considers the development of SMEs as another contributor to the country’s long-term economic growth. “We recognize how important SMEs are, that is why we came up with programs like Shared Services Facilities (SSF), SME Roving Academy, (and) DBFTA (Doing Business in Free Trade Areas),” Trade Secretary Gregory Domingo said. The SSF program involves providing equipment to help improve the quality of products of micro (M)SMEs. Under the SME Roving Academy, the DTI provides training to MSMEs, while business information sessions that provide entrepreneurs with knowledge on how to navigate and profit from the country’s free trade agreements are conducted by the department through the DBFTA. As the country holds the chairmanship of the Asia Pacific Economic Cooperation (APEC) next year, Domingo said the country would focus on the SME agenda. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “We feel the SME agenda is very important. We are pushing to simplify the trade rules to make SME’s benefit from global trade. That means simplifying application forms and custom procedures,” he said. Since 2011, the DTI has been pushing this agenda in meetings of APEC, World Trade Organization and the Association of Southeast Asian Nations (ASEAN). For his part, Trade Undersecretary Ponciano Manalo, Jr. said the DTI is putting emphasis on SMEs given Read More …

ICTSI rolls out new system in Honduras

Economy

Dec 252014

MANILA, Philippines – Port giant International Container Terminal Services Inc. (ICTSI) has rolled out new systems and processes that reduces service times of container vessels berthing at the Specialized Container and General Cargo Terminal in Puerto Cortes, Honduras. Marcelo Suarez, senior vice president and head of the Americas Region, said ICTSI’s Operadora Portuaria Centroamericana SA de CV (OPC) is moving to fast track the loading and unloading of containers successfully eliminated vessel downtimes and improved the overall efficiency of dock operations. “We are glad with how port stakeholders in Honduras and the Caribbean received the new systems and processes we implemented in Puerto Cortes to improve customer service. We envision our ICTSI Puerto Cortes terminal not only to become a major terminal in the group, but a key port in the Caribbean serving Central American trade,” Suarez said. A new vessel segregation system based on destination, size and weight had been set in place together with a new “window docking” scheme that enables ships arriving at a predefined time to dock immediately upon arrival. This would greatly reduce the logistics costs for port users, unlike in the past when ships had to wait for hours at the bay, sometimes even up to days before docking. The window docking system allows precise planning and better resource management of resources and personnel, as well as maintenance of machinery and spaces within the port. Vessels could unload their containers immediately within 24 hours provided that requirements and full documentation are accomplished in advance. Read More …

Rockwell gains ATRKE majority

Economy

Dec 252014

MANILA, Philippines – A group led by a unit of Rockwell Land Corp. has acquired all of Maybank ATR Kim Eng Capital Partners Inc.’s shareholdings in ATR Kim Eng (ATRKE) Land Inc., developer of a 9.7-hectare mixed used residential and commercial complex in Muntinlupa. Rockwell, through wholly owned subsidiary Rockwell Primaries Development Corp., said it has entered into a memorandum of agreement with ATR Holdings Inc. and Dragon Eagle International Ltd. to jointly invest in and acquire all the outstanding common shares of Maybank ATR in ATRKE Land. Rockwell is acquiring majority control or 60-percent interest in ATRKE Land for P561.58 million. The property developer is buying 1.86 million shares at P301.93 apiece. ATR Holdings and Dragon Eagle, meanwhile, will have 20- percent stake each. Rockwell said the acquisition is seen to expand its landbank for the coming years through unit Rockwell Primaries. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Rockwell Primaries is a wholly-owned subsidiary of the Lopez family’s property arm which will serve as the company’s vehicle for its upcoming brands. Rockwell was created in 1995 after the shutdown of the thermal power plant of the Lopez Group. The former power plant complex is now a self-contained, mixed-use community with residential towers, office buildings, a shopping mall, and a graduate school. “The transaction will give Rockwell Primaries Development Corp. a majority stake in the remaining undeveloped portion of the Tribeca Project, a 9.7-hectare mixed-use condominium complex in Muntinlupa,” the listed property firm said. ATRKE Land together Read More …

9 Filipinos rescued after Korean ship runs aground

News

Dec 252014

9 Filipinos rescued after Korean ship runs aground

popular China tightens church control ahead of Christmas North Korea threatens strikes on US amid hacking claims Let a brick hit you Man gives gift of liver and life for someone he knew only casually 114-year-old woman who challenged Facebook age policy dies Mexican family of 8 dead in suspected murder-suicide The battle for Santa Claus’ home ‘Amihan’ plays Grinch on Christmas videos Rain or Shine edges Alaska, ties series on Christmas Day 5,000 joggers take part in Santa Run Simbang Gabi at the Gesu ( Day 9 – Dec. 23, 2014 ) Baldwin wants Olympics stint, Fiba Asia gold for Gilas ‘Parade of Stars’ opens 40th Metro Manila Film Festival SUBIC, Zambales—The Coast Guard rescued nine Filipinos, who served as crew of a Manila-bound South Korean cargo ship which ran aground at Subic Bay near this town at Wednesday dawn. The crew was brought to the Coast Guard headquarters in Manila on Wednesday night. Police Officer 1 George Cosme, commander of the Coast Guard’s Subic sub-station, said Warlito Ordinaryo, the captain of MV Sea Lord, had problems maneuvering the ship through rough seas. Also rescued were Remedio Mayordomo, Hilario Basan, Lorenzo Bughao, Armando Taay, Charlie Umali, Rolando Robes, Rodolfo Losaria Jr. and Joel Lonzaga. Allan Macatuno, Inquirer Central Luzon Tags: coast guard Global Nation Korean Ship Zambales Related Stories: Australia investigates ‘paedophile’ father in Thai baby scandal Bangladesh ferry owner faces charges in sinking Bangladesh ferry owner faces charges in sinking Bangladesh ferry owner faces charges in sinking Bangladesh Read More …

2014: A year of showbiz weddings

Entertainment

Dec 252014

MANILA — 2014 proved to be a lucky wedding year for some local showbiz celebrities. Take a look back at the names that made it in the altar in the year of the horse. Iya Villania and Drew ArellanoDate: January 31Venue: Kawayan Cove, in Nasugbu, Batangas After 10 years of dating, Drew and Iya tied the knot early this year in Nasugbu, Batangas without media fanfare. The “secret” wedding was attended by the couple’s closest friends and family. Official wedding videographer Jason Magbanua described the couple as the “most humble and friendly as they get. They don’t feel entitled”. He added that Iya and Drew “weren’t putting on a show for anybody, they were celebrating the moment with those most important to them.” Karylle and Yael YuzonDate: March 21Venue: San Antonio de Padua in Silang, Cavite From the beginning, Karylle and Yael have always been tight-lipped about their romance. So it came as no surprise when the couple decided to announce their wedding date a month before the actual ceremony. Karylle confirmed her planned wedding in February on noontime variety program “It’s Showtime”. The wedding was attended by 150 people composed of family and friends. Kim Jones and Jericho RosalesDate: May 1Venue: Shangri-la Boracay Resort They say friendship is the best foundation of marriage. And that proved to be true to the love story of Jericho and Kim. The two met through common friends in 2011. For the wedding, Filipino-British Kim, who grew up in Australia, wore a sweetheart neckline Read More …

Thrill of a lifetime: Soaring high above LA for the holidays

Entertainment

Dec 242014

Thrill of a lifetime: Soaring high above LA for the holidays

This writer’s family had the thrill of our lifetime when my sister, Marjorie D’Angelo pretended to invite my son, granddaughter and I to a “holiday dinner” to celebrate a “milestone” and the Filipino tradition of “simbang gabi” (evening Mass heralding 9 days before Christmas) this week. Though it was a rainy day, the skies cleared up by sunset and through Margie’s relentless coordination with a gentleman named Roscoe Gray, the evening became an eventful “thrill of a lifetime” when we arrived at the Van Nuys Airport hangar of Elite Helicopter Tours, owned by Pilot/Entrepreneur Simon Davis. Born and raised in Vancouver, Canada, Simon Davis was formerly a professional snowboarder who has travleled via helicopters through the backcoutries of Canada, Alaska and New Zealand. Davis has long been intrigued by these helicopter rides and one day, when he was offered a free ride along with two of his buddies, he somehow developed a “bug” or an addiction to flying. This prompted him to enroll in flight school and was trained for a year. Subsequently he moved to California and settled in Malibu. What started as a hobby for him made him pursue his passion for flying by working as a flight instructor, but in 2006, when he received his FAA license, he bought his first helicopter, a Robinson R44 for personal use, but he discovered not only the business side of it but also a way to connect with people’s emotional side, by way of seeing their “smiles” when they “soar above LA” and tour its wondrous sights. The 45-minute Read More …

Simbang Gabi tradition endures

Entertainment

Dec 242014

The tradition of Simbang Gabi has endured for more than 400 years. The nine-day pre-dawn celebration of the Mass serves as a prelude to the climatic celebration of Christmas. Catholic churches in hundreds of different locations in the Philippines, and even at the corridors of malls and shopping centers have become venues for holding Masses in the hope of faithful earning favors from the Jesus Christ of having petitions granted. Considered as one of the oldest Catholic traditions, the observance starts on the sixteenth of December culminating on Dec. 24, with the faithful enduring the coldness of the morning and harboring big hopes that by completing the attendance to the Masses they will have gained the favors for their wishes and petitions to be granted. Sy, Al-Os Accountancy Corp.:The partnership of accountants Victor Sy and Arlene Al-os is expected to strengthen the delivery of accounting and other services to its clients whose patronage has enabled it to exist for more than 30 years. The executives and staff of the accountancy group take brief time out before the blessing of its offices (From L-R): Eliza Esquillo, Elma Balmeyo, Arlene Al-os, Fr. Jose Carlos Corral of St. Andrews parish who officiated the blessing, Victor Sy, Liz Breva, Veronica Dolatre and Grace Zaide. Church bells will peel as early as 4 a.m. and 5 a.m. for nine days with the Misa de Gallo celebrated on Christmas even shortly before midnight. Mass attendance is “a gift for the Child Jesus, a sacrifice that requires dedication and discipline,” a Read More …

Lawmaker wants tax exemption for Pinoy boxers

Entertainment

Dec 242014

Lawmaker wants tax exemption for Pinoy boxers

Reports said that Manny Pacquiao’s adviser Michael Koncz (third from right) was responsible for his tax woes. The BIR has made it clear that if only Pacquiao could show that he paid his US taxes, he won’t be “double taxed” by the Philippine government. Photo: Chris Farina / Top Rank MANILA (Mabuhay) – A lawmaker is seeking to exempt Filipino boxers from paying tax out of the prize and other monetary benefits they receive from boxing competitions. Representative Emil L. Ong of the Second District of Northern Samar said his proposal, embodied in House Bill 5234 or the proposed “Filipino Boxers’ Benefits and Protection Act of 2014,” aims to support Filipino boxers who brought honor to the country despite risks to their lives. “The proposal is in line with the constitutional provision pertaining to the promotion of sports, and aims to enable Filipino boxers to enjoy their winnings by making those (winnings) tax-exempt,” said Ong in a statement. “The tax exemption is an incentive that must be given and enjoyed by our boxers, just like American boxers,” he added. Ong noted that boxers earn their income on a per-fight basis. “As distinguished from other tax payers, Filipino boxers only enjoy the prize of their winnings for a limited period of time,” he explained. “Hence, the remainder of their income from winnings after taxes is what is left for a lifetime of support for the boxer and his family.” Ong further explained that hosting a boxing event provides economic benefits to Read More …

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