Luck or destiny?

 Economy
Feb 182015
 
Luck or destiny?

The two inspiring entrepreneurs: Justin Uy and Injap Sia.   Kung Hei Fat Choy! Happy Chinese New Year to all our Chinese-Filipino fellowmen who will celebrate the Spring Festival today.  I am sure that all Chinoys and even most Pinoys will welcome the year of the wooden sheep with some kind of celebration. Chinese people have been part of our culture, history and race, that is why we received many influences and values from them including hard work, determination and of course, good food! Aside from that, they have also shared the practice of Feng Shui. I, who come from a pure Filipino family, do not really practice Feng Shui always. As I believe that it is not merely luck that can help one achieve success. The leading aircon and refrigerator company Concepcion Industrial Corporation, a family corporation that we are a part of, was made public thru an IPO last November 2013.  It took some time before I was able to convince our family to go public, and now it seems that it was the best move as we were able to unlock the real value of the company. The stocks did extremely well from an IPO price of P26 per share and after a 30 percent stock dividend in September last year, the share price even climbed to current levels of P60 per share. The company consulted Feng Sui experts for its operations. I do it sometimes too but I just practice the basic elements because I still Read More …

Roxas Holdings, Global Power set to pick designer for power project

 Economy
Feb 182015
 
Roxas Holdings, Global Power set to pick designer for power project

MANILA, Philippines – Leading sugar producer Roxas Holdings Inc. (RHI) and Global Business Power Corp. (GBPC) are in the final stage of negotiations with respect to awarding the front-end engineering design (FEED) for their planned 40-megawatt biomass power project in Negros Occidental. RHI chairman Pedro E. Roxas said the co-generation facility, located within the premises of RHI’s Central Azucarera de la Carlota Inc., would be rolled out as soon  as the FEED contract is awarded. Roxas said RHI and GBPC hope to get the facility up and running and contributing to the national grid  by 2018. The power project would help address the looming power crisis in the country  given the expected doubling of global energy demand by 2050. RHI president president and CEO Renato Valencia said that the plant would help the company reduce its production costs and optimize its efficiency, thereby keeping the sugar firm competitive with Asean neighbors. The project is GBPC’s first venture in renewable energy. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 GBPC, the power generation arm of taipan George S.K. Ty’s GT Capital Holdings Inc., owns coal and diesel-fired power generation facilities that are capable of supplying base, intermediate, peak load and ancillary support. RHI plans to up a 30-megawatt cogeneration facility in Batangas and is exploring opportunities in other Southeast Asian countries as part of its aim to diversify its revenue stream in the next three to five years. “We are having a feasibility study done for another 30-megawatt (MW) cogeneration Read More …

5 Comvalroad projects to boost tourism

 General
Feb 182015
 
5 Comvalroad projects to boost tourism

FIVE road projects worth P330 million and designed to boost tourism are scheduled in Compostela Valley this year. The Department of Public Works and Highways (DPWH) in Davao Region said three of the projects, amounting to P250 million, will be implemented by the regional office.The other two, amounting to P80 million, will be implemented by the Compostela Valley-District Engineering Office (DEO). The projects are the P80 million concreting of Bantacan road leading to Tadia Fall of New Bataan; P80 million concreting of New Albay-Marangig road in Maragusan leading to Marangig Waterfalls and Pyalitan Waterfalls in Maragusan; and the P90 million concreting of road from Ubuton, New Bataan to Camp Uno leading to White Peak, New Bataan. The projects to be implemented by the Comval-DEO are the P40 million concreting of Nabunturan Public Market Road and the P40 million concreting of Barangay Pindasan Circumferential Road in Mabini leading to Kopiat and Lunod Island and MabiniBeact Resorts. The five projects will have a total length of 11.20 kilometers.The projects were identified through the Convergence Program of the Department of Tourism (DOT) and the DPWH. Christine Dompor, Compostela Valley provincial tourism officer, said 13 projects were lined up for 2015 but only the five were approved. (RJF) Published in the Sun.Star Davao newspaper on February 19, 2015. DISCLAIMER: Sun.Star website welcomes friendly debate, but comments posted on this site do not necessary reflect the views of the Sun.Star management and its affiliates. Sun.Star reserves the right to delete, reproduce or modify comments posted Read More …

‘So Goes’

 Entertainment
Feb 182015
 
‘So Goes’

I love to travel. Who doesn’t? Whether it’s domestic, international, or even just local, exploring and discovering new places and things is an experience that definitely enriches one’s life. I have been blessed to have been given the chance to travel and sometimes, even to wander to different countries and cities all over the world; and in the process; have amassed a collection of photos, anecdotes and tips that I thought of sharing with others one day. And after much deliberation, I think that day has come. This month I am launching my new travel column in US Asian Post, the sister publication of Weekend Balita. The column, which started three weeks ago, is called “SO Goes.” Please make sure to get your free copy each week; or check us out online at www.usasianpost.com. Here’s an excerpt from my first column, first of a 3-part series on traveling and choosing your life partner: You should never marry until you’ve traveled together. Traveling will give you an idea on how your partner reacts to frustrations, when things don’t go as planned; or how independent or dependent s/he is; and even her/his habits. It will also help gauge your compatibility based on what you value and prioritize; your preferences about what to see and do; down to the temperature in your room. You basically discover a lot in a few days. I know my husband and I both did. These days when we ask ourselves how we knew we could marry each Read More …

Facilitation service a growing racket as Manila ports remain congested – solon

 General
Feb 182015
 
Facilitation service a growing racket as Manila ports remain congested – solon

— President Benigno S. Aquino III leads his official family in prayer before presiding over the National Economic and Development Authority Board Meeting at the Aguinaldo State Dining Room of the Malacañan Palace on Monday (February 16). Also in photo are Communications Secretary Herminio Coloma, Jr., Science and Technology Secretary Mario Montejo, Tourism Secretary Ramon Jimenez, Jr., Secretary to the Cabinet Jose Rene Almendras, Finance Secretary Cesar Purisima, Environment and Natural Resources Secretary Ramon Paje, Energy Secretary Jericho Petilla, Public Works and Highways Secretary Rogelio Singson and Socio-Economic Planning Secretary Arsenio Balisacan. (MNS photo) MANILA (Mabuhay) – Enterprising racketeers are taking advantage of the unabated cargo congestion in the ports of Manila, charging businessmen exorbitant fees in exchange for facilitating the release of their shipments, a lawmaker claimed on Monday. Citing reports reaching his office, Isabela Rep. Rodolfo Albano III said various “facilitation services” have mushroomed and are supposedly helping traders process both inbound and outbound cargoes in exchange for a hefty fee. “Huge ‘facilitation services’ fees are being charged businessmen who are helpless and desperate in seeking the release of their shipments,” Albano said in a statement. According to the lawmaker, the Port of Manila remains congested despite the lifting of the truck ban imposed by Manila mayor Joseph Estrada last year. The accumulation of cargoes at the port has resulted in multi-billion peso losses for businesses and industries, he said. “[The port congestion] results in higher costs for businesses relying on imported finished products for local distribution and Read More …

US pays Philippines compensation for warship reef damage

 News
Feb 182015
 
US pays Philippines compensation for warship reef damage

The United States has paid nearly $2 million compensation to the Philippines for the damage a US warship caused to a protected reef, Manila said Wednesday. The minesweeper USS Guardian became stranded on the Tubbataha Reef in January 2013 after visiting a Philippine port, and had to be cut to pieces to avoid further damage to the World Heritage site in a salvage operation that took 10 weeks. The ship damaged 2,345 square metres (25,240 square feet) of the coral reef that investigators said would take a generation to re-grow. The incident stirred nationalist anger against the United States, a former colonial ruler of the Philippines that remains the Southeast Asian nation’s most important military ally. Washington promptly apologised for the mishap and issued a report five months later that blamed the captain and three other officers. The vessel, which was en route to Indonesia after visiting a northern Philippine port, was found to have sailed into a protected area where marine vessels are not allowed due to “poor voyage planning”, according to a copy of the report. In a statement on Wednesday, the Philippine foreign department said it received last month “the full requested amount” of 87 million pesos ($1.97 million) in compensation. “The compensation will be utilised for the protection and rehabilitation of Tubbataha Reef Natural Park, a UNESCO World Heritage Site,” it said in a statement. Part of the money will also be used to enhance monitoring activities in the area to prevent similar incidents in the Read More …

US pays $1.97 million to Philippines for damaged reef

 General
Feb 172015
 
US pays $1.97 million to Philippines for damaged reef

MANILA, Philippines (AP) — The Philippine government said Wednesday it had received 87 million pesos ($1.97 million) from the United States to pay for damage caused by a U.S. Navy minesweeper to a protected reef two years ago. Manila received the compensation last month for the damage that resulted from the grounding of the minesweeper USS Guardian at Tubbataha Reef, a UNESCO World Heritage Site, the Department of Foreign Affairs said in a statement. The statement said the money will help rehabilitate and protect the reef and enhance monitoring of the area to prevent a repeat of the incident. It said that in addition, the U.S. government will assist the Philippine coast guard in upgrading its station at the reef. The park management, the World Wide Fund for Nature, and marine experts said in a joint assessment that about 2,345 square meters (25,240 square feet) of corals were damaged. The Guardian ran aground at the Tubbataha National Marine Park in January 2013 and was dismantled piece by piece over two months to prevent further damage to the reef. The U.S. Navy and the American ambassador apologized for accident. The U.S. Pacific Fleet relieved the ship’s commanding officer, executive officer and navigator, assistant navigator and officer on deck after initial findings indicated they had failed to adhere to standard navigation procedures at the time of the grounding.

PSEi nears 8,000 mark

 Economy
Feb 172015
 
PSEi nears 8,000 mark

MANILA, Philippines–The local stock barometer closed at another record high on Tuesday, moving closer to the 7,800 mark, after trading in the doldrums for most of the session. The Philippine Stock Exchange index (PSEi) added 8.75 points, or 0.11 percent, to close at 7,793.40. The market rebounded in the afternoon on selective buying. Elsewhere in the region, sentiment was mixed following the breakdown in debt negotiations between Greece and the European Union. All counters posted modest gains except for the holding firm sub-sector, which slightly dipped. Value turnover for the day amounted to P6.65 billion. There were 93 advancers that edged out 81 decliners while 48 stocks were unchanged. “Stocks have so far resisted after hitting an all-time high of 7,807, indicating some pressure on the upside. With some stocks hitting analyst targets and reaching overbought signals, as full-year 2014 earnings are released, we have observed rotation of fund flows as investors seek more attractive values in the market,” local stockbrokerage DA Market Securities said in a research note. Resistance level for the PSEi is seen at 7,807, the all-time intraday high and psychological barrier at 8,000, DA Market said. The PSEi’s upswing was led by SM Prime (+1.14 percent) while Megaworld, EDC, ALI, FGEN, JG Summit and BPI contributed modest gains. Outside of PSEi stocks, notable gainers were LPZ (+2 percent) and DNL (+2.94 percent). On the other hand, the PSEi’s gains were curbed by the decline of MPI (-2.88 percent) and URC (-1.1 percent) while PLDT, DMCI, SMPH, Read More …

Treasury rejects bids for 10-year bonds

 General
Feb 172015
 
Treasury rejects bids for 10-year bonds

popular . Stoudemire leaving Knicks after buyout Pope denounces slaying of Egyptian Christians by ISIS Egypt bombs ISIS in Libya, pushes for international action JM de Guzman bounces back BREAK: Tsunami alert in N. Japan after 6.9 quake—agency 8 British firms embark on trade mission to PH BIFF challenges politicians to arm themselves, fight in Mindanao Gov. Vi lauds 1982 gay film’s restoration videos 2015 Bb Pilipinas hopeful Janicel Lubina proud of her simple past Binibining Pilipinas 2015 candidates strut in their swimsuits David Pomeranz is back in PH with ‘Greatest Hits’ album PBA legend Sonny Jaworski open to idea of being the next PBA commissioner Ateneo star Alyssa Valdez calls for unity in PH volleyball MANILA, Philippines–The government on Tuesday rejected all bids for P25 billion in reissued 10-year treasury bonds as some investors were deemed trying to tuck in additional income before closing their first-quarter books. During the auction, the Bureau of the Treasury rejected tenders worth P41.23 billion at an average bid rate of 3.573 percent or 53.4 basis points higher than the previous auction’s 3.039 percent. The bonds maturing in August 2024 were first auctioned in August last year. National Treasury Roberto B. Tan told reporters after the auction that they noticed the array of investors’ bid rates was “scattered.” “There was no unity in the rates among themselves. They’re also tentative about what would be the right price. The market was trying to see how far they can go,” Tan said. According to Tan, some Read More …

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