January 2015 – Page 2

Explain deal, hgc asked

General

Jan 312015

Businessman Reghis Romero II, who is currently at the center of a controversy involving a legal battle against his eldest son Michael, has found himself embroiled in another dispute. The Coalition of Filipino Consumers has asked state agency Home Guaranty Corp. (HGC) to explain reports that the group of Reghis Romero has asked the agency to enter into a deal that would absolve the Romero group of any legal liability in connection with the controversial Smokey Mountain Development Reclamation Project (SMDRP) that was implemented during the Ramos administration. CFC secretary-general Perfecto Tagalog warned HGC against entering into a “compromise agreement with the camp of Romero as the move clearly steps on the rights of the stakeholders, particularly, the families who lived in the country’s biggest dump.” CFC is an advocacy group seeking to protect the rights of consumers and policing government contracts with private groups to ensure that public rights are protected. HGC is an attached agency of the Housing and Urban Development Coordinating Council (HUDCC). Tagalog said the HGC, which he said has been silent on the matter, also owes the Filipino people an explanation on the status of the case of Romero with the Court of Appeals. ERomero’s R-II Builders and the National Housing Authority in 1993 signed a contract for the development of Smokey Mountain. HGC acted as government guarantor of the project. Romero’s group claimed that HGC did not fulfill its duty as a guarantor. But HGC alleged it was R-II Builders that did not comply Read More …

GSIS revenues up 9% to P153B

Economy

Jan 312015

MANILA, Philippines – The Government Service Insurance System (GSIS) registered a nine percent rise in revenues last year, largely driven by increased contributions from its members and higher gains from investments. Revenues, which include members’ contributions and earnings from investment, went up to P153 billion from P139 billion in 2013. Robert Vergara, president and general manager of GSIS, said based on unaudited figures, the state pension fund ended 2014 with total assets of over P910 billion. He said the agency improved its level of efficiency in collecting members’ premiums and loan payments from 83 percent in 2010 to 95 percent last year. The GSIS chief said the pension fund remains adequately strong and liquid to cover future payment obligations. “More importantly, the life of the fund is a healthy 34 years, an assurance that GSIS will be there to pay our members’ pension throughout the duration of their retired life,” Vergara pointed out. He attributed the fund’s healthy financial position to landmark policies it implemented which include the restoration of the survivorship benefit for the survivors of deceased members, and the cancellation of the requirement for old-age and disability pensioners. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The GSIS likewise increased the minimum basic pension of more than 57,000 old-age and disability pensioners to P5,000 in January 2013. It earned the highest percentage of offices nationwide that have been rated “Excellent” in the Anti-Red Tape Act survey inducted by the Civil Service Commission covering more than 1,000 agencies. The Read More …

Philippine growth seen topping 6.1% this year

Economy

Jan 312015

Philippine growth seen topping 6.1% this year

MANILA, Philippines – Philippine economic growth would likely accelerate this year from the strong 6.1 percent expansion in 2014, fueled by poll-related spending in the run-up to the 2016 national elections, the research arm of Metropolitan Bank and Trust Co. said. “Research sees 2015 to be a better year especially with spending for the 2016 elections expected to be kick-started in the second half of 2015,” Metrobank Research said in its latest The Economic Weather Report. “The increase in government spending is seen to cause a rebound in investment spending and will also further boost consumption spending. The industry sector will still be a top performer this year amid the solid expansions in the manufacturing and construction sectors,” the bank added. Metrobank Research has forecast gross domestic product, a measure of economic output, to grow 6.4 percent this year, below the government’s seven to eight percent target. “Risks to the domestic economy however remain amid the persistent port congestion issues, looming power supply crisis, uneven global economy, and impact of financial market volatilities,” Metrobank Research said. GDP growth surged to 6.9 percent in the last quarter of 2014 after a dismal 5.3-percent pace in the third quarter. This brought full-year economic growth at 6.1 percent, still short of the government’s 6.5 – 7.5 percent goal. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 However, Philippine economic growth last year remained the second fastest in Asia, after China’s 7.4 percent expansion. This also marked the third consecutive year the country Read More …

‘Rabbit ang Tema’

General

Jan 312015

Ang Poet N’yo with a Balloon Art Rabbit Sculpture in Macao. Hmmm… the creator of this piece is really a CON Artist. Contradicting kasi yung obra n’ya eh — balloon ‘tapos rabbit?! Condom y Conejo! Ngek! Sa tingin ko ang “Francis Effect” ay meron pa, Kaya naman Ang Poet N’yo sasagarin na! At dahil ngayon din sa month tayo’y nag-jump na, Jump? Love month pa? Swak! Eh di RABBIT ANG TEMA! Sagot sa tanong kung bakit “rabbit antenna,” Entertainment ( Article MRec ), pagematch: 1, sectionmatch: 1 Madalas marinig ganon kasi ang tenga, Ngunit kung ibabase sa ugali nila, Eh kasi nga dapat lagi ay nakabuka! Maraming iniwan ang Pope sa ating WOW ha, Pero ‘di MALI at ang LAKAS NG TAMA pa! WOW o Words Of Wisdom ang ibig sabihin ba Na pagnilayan n’yo at lahat maganda. Kuha ko lahat pagkat ako’y matanda na, Natural lang sa akin lagyan ng patawa, ‘Yan din sabi ng Pope na maging natural ka, Kaya ‘wag seryo’t magalit sa’kin ‘yung iba! Tulad nung kung manganak ay galit na galit! Sabi tuloy ni Pope Francis, “Don’t be like RABBITS!” At s’yempre ang sundot naman ng inyong Poet — Kung hindi n’yo talaga kaya eh JUST RUB IT! Ngek! Nangyayari’y you love doing it! Hold it please! You rub it! Parang Hapon? Hai! Kayo GAPANG-NESE! Alalay naman mga darling sa paglilis! Not yet gapang youngest but gapang na si TER-MIS! “Learn how to cry and beg …” ang dagdag pa ng Papa, Ngunit iba yata Read More …

Meralco unveils facility to guide consumers on electricity consumption

General

Jan 312015

Meralco unveils facility to guide consumers on electricity consumption

MANILA, Philippines – Want to know how much is the cost of using a certain household appliance, say per hour of use or per day of use ,so you can manage your electricity expenses? Manila Electric Co. (Meralco), the country’s biggest power distributor, unveiled recently its Power Lab, a multi-purpose facility that can test the power consumption of appliances and gadgets. The goal is to educate Filipinos on their electricity usage and help them understand the impact of energy management in their daily lives, Meralco said. “We want consumers to visit the Meralco Power Lab to discover how much electricity typical home appliances and gadgets consume and to realize how this impacts on their household expenses,” said Al Panlilio, Meralco senior vice President and head of customer retail services and corporate communications. Energy Secretary Carlos Jericho Petilla welcomed Meralco’s initiative. “You can see the consumption of your appliances. It’s for people to be more conscious of the appliances that they use,” Petilla said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Panlilio said the facility would encourage consumers to become more conscious about electricity use and become more energy efficient. The Meralco Power Lab houses an Equipment Testing Laboratory, a Demo Area and an Intelligent Living Space. In two months, Meralco, through the facility, would also launch the so-called Orange Tags which would be placed on different household appliances sold in appliance stores. The tags would indicate the cost of using the appliance per hour, per day or per Read More …

PPMC puts up 6-ha Poro Pt Lighthouse dev’t for bidding

Economy

Jan 312015

PPMC puts up 6-ha Poro Pt Lighthouse dev’t for bidding

MANILA, Philippines – The Poro Point Management Corp. (PPMC) is again looking for interested firms for the lease and development of the six-hectare Poro Point Lighthouse in La Union. “PPMC is inviting interested bidders to bid for the long-term lease and development of the approximately six hectares Poro Point Lighthouse located at Poro Point Freeport Zone (PPFZ), Poro, City of San Fernando, La Union on an ‘as-is, where-is’ basis,” the PPMC said in a notice posted on the Bases Conversion and Development Authority (BCDA) website. The property is intended to be developed into a mixed-use tourism site with leisure and entertainment-related facilities and amenities. The lease term will be for 25 years and renewable for another 25 years, subject to the approval of the Philippine Coast Guard. The minimum acceptable starting annual fixed lease for the property is at P5.280 million, subject to an escalation of 10 percent starting on the third year and every two years. The first year of the lease will be free but the winning bidder upon signing of the contract, will have remit to PPMC in advance the fixed lease for the second, third and fourth year of the lease, computed with 10 percent escalation starting on the third year of the lease. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The winning bidder will also need to remit to PPMC the fixed lease payment covering the fifth year of the lease, as adjusted based on the 10 percent escalation rate every two years, Read More …

Belle declares P1.9-B cash dividends

Economy

Jan 312015

MANILA, Philippines – Listed leisure estate company Belle Corp. is handing out P1.9 billion in cash dividends to its shareholders. The Henry Sy-led company told the local bourse that its board of directors approved the declaration of a special cash dividend worth P0.18 per share. Belle said the payment of the dividend would be on March 9 to shareholders of record as of Feb. 10, 2015. Belle’s principal assets include land and buildings located at the Pagcor Entertainment City in Paranaque City which are being leased on a long-term basis to Philippine entities controlled by Macau casino giant Melco Crown Entertainment Ltd. The property is the site of the City of Dreams Manila gaming and resort operations, which encompasses 6.2 hectares of land and more than 30 hectares in building gross floor area. Belle said it realized revenues of approximately P1.3 billion in 2013 from the lease to Melco Crown and more than P1.2 billion during the first nine months of last year. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Belle is also set to realize a share in earnings from City of Dreams’ gaming operations through its 78.7 percent-owned subsidiary, Premium Leisure Corp., which has an operating agreement with Melco Crown. City of Dreams Manila soft-opened in December last year and is scheduled for its grand launch today.

Sta. Lucia expects higher profits from housing unit

Economy

Jan 312015

Sta. Lucia expects higher profits from housing unit

MANILA, Philippines – Real estate developer Sta. Lucia Land Inc. (SLI) is bullish that its housing construction subsidiary will help drive the company’s profits higher in the coming years. SLI formed last year Sta. Lucia Homes, a wholly-owned contractor company with the sole purpose of offering construction services to the Sta. Lucia Group’s over 120,000 lot buyers over the last 40 years. “Majority of our lot buyers do have the intention and the initial capital to construct houses, but has limited access to contractors, difficulty in securing the necessary business permits and little or no access to bank financing” said David M. Dela Cruz, SLI and Sta. Lucia Homes executive vice president and chief finance officer. Dela Cruz said the property firm has seen the gap and decided to offer its buyers a reliable contractor to address all the buyers’ construction, documentation and financing needs. “We estimate that we have over 60,000 lots buyers nationwide that have yet to build houses,” said Ria Rivadeneira, Sta. Lucia Homes general manager. “Just to serve five percent of this market or to construct 3,000 houses is already a challenge. Although arguably not a captive market, these lots were sold by our agents who are still in touch with these buyers. All we need to do is to reestablish these relationships”, Rivadeneira added. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Seeing how house construction could be a profitable venture, SLI said Sta. Lucia Homes is expected to be a big boost to Read More …

KOICA turns over P200-M Iloilo rice processing complex

Economy

Jan 312015

KOICA turns over P200-M Iloilo rice processing complex

MANILA, Philippines – The Korean International Cooperation Agency (KOICA) has turned over the P200 million rice processing complex (RPC) infrastructure grant in Iloilo to a farmers cooperative, the Department of Agriculture (DA) announced over the weekend. The KOICA-RPC management board has transferred the management and operation of the rice processing complex to the Pototan Farmers Multi-Purpose Cooperative (PFMPC). The rice processing complex situated in Brgy. Amamaros, Pototan was built in April 2012 to improve the efficiency of the post-production system of the farmers in the municipality. “This Iloilo RPC, owned by DA, Iloilo provincial government, and municipality of Pototan, has been producing quality milled rice, reducing post-harvest losses, improving rice distribution system, and maximizing the use of rice by-products,” said DA Region 6 executive director Larry P. Nacionales. To date, there are four KOICA-funded integrated rice processing centers nationwide. The other three are situated in Pangasinan, Bohol and Davao del Sur. The DA said members of the PFMPC have received training on management and operations to sustain the functions of the RPC. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The PFMPC, organized in 1969, has 4, 180 members to date. It engages in the trade of rice and farm inputs as well as farm service provision. It also operates a grocery store along with lumber and hardware enterprises. The cooperative has a total asset of P49.02 million and has provided a P2 million equity for the operations of the KOICA-supported RPC.

Bare all you know on Mamasapano clash, Palace appeals to parties concerned

News

Jan 302015

Bare all you know on Mamasapano clash, Palace appeals to parties concerned

Help the truth come out. This was Malacañang’s appeal Saturday to all parties concerned in the Mamasapano, Maguindanao clash that killed 44 Special Action Force policemen last Jan. 25. “Magaganap ang prosesong yan ng pag-alam ng katotohanan kung sino ang dapat magbigay ng information, dapat lumahok sila riyan at tulungan ang pagbatid ng katotohanan ng kaganapan,” Presidential Communications Operations Office head Herminio Coloma Jr. said on government-run dzRB Radyo ng Bayan. An inquiry board has already been set up to probe the incident that killed 44 SAF members. The Senate is also eyeing its own investigation. On Thursday, Vice President Jejomar Binay dared suspended Philippine National Police chief Director General Alan Purisima to bare all he knows about the operation. Binay was referring to reports claiming Purisima was the one who gave the order to pursue the operation. For his part, Coloma said President Benigno Aquino III himself had said “the truth will set us free.” — Joel Locsin/LBG, GMA News

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