March 2015 – Page 55

SM Prime acquires community mall in Cabanatuan City

Economy

Mar 012015

SM Prime acquires community mall in Cabanatuan City

MANILA, Philippines – SM Prime Holdings Inc., the umbrella property firm of Henry Sy’s SM Group, completed the purchase a community mall in Cabanatuan City to team up with its upcoming large-scale shopping center in Nueva Ecija’s capital. “This March, we will be launching one of our acquired malls which is the Megacenter in Cabanatuan,” SM Prime president Hans Sy said in an interview last week. Megacenter is a five-story mall previously owned and operated by CHAS Realty and Development Corp.Sy did not disclose the acquisition amount. He, however, said SM will retain the Megacenter brand. “Everybody there knows Megacenter so I do not really need to rebrand it,” Sy said.SM Prime is also set to open its new SM mall in Cabanatuan by the end of the year. Aside from SM Cabanatuan, SM Prime is launching this year three other malls which are located in Sangandaan in Caloocan, San Mateo in Rizal, and Trece Martires in Cavite.SM Seaside Cebu, meanwhile, could be the fifth mall to be launched this year but its completion date is still tentative, Sy said. As the country’s largest mall developer, Sy said SM Prime remains on the lookout for possible acquisitions or joint venture deals with other retailers in the country. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “We are open to buy existing malls and rebrand them,” Sy said. “First thing I look into is the location. If the location is good, there is a big chance. It’s not limited on Read More …

Nestle opens 3 new coffee buying stations

General

Mar 012015

Nestle opens 3 new coffee buying stations

Through coffee buying stations, small-to medium-scale coffee farmers can now sell their coffee produce straight to Nestlé. Nestlé’s in-house agronomists also provide farmers with trainings on the latest and sustainable coffee-growing techniques that ensure quality produce and maximum yield. MANILA, Philippines – Consumer goods manufacturer Nestlé Philippines recently opened three new buying stations in key coffee-producing provinces, enabling farmers to have ready access for their produce. Small and medium-scale coffee producers and intermediaries can now sell their coffee to new Nestlé buying stations in Silang, Cavite; Lapuz Norte in Iloilo; and Bagong Pook in Lipa, Batangas. Around 5,500 local coffee growers in Cavite, Iloilo City, and parts of Antique, Capiz, and Guimaras are expected to benefit from the increased market access as well as training in plant propagation. Edith de Leon, senior vice president and head of Corporate Affairs of Nestlé Philippines, said the establishment of the new coffee is part of its Farmer Connect program under the global coffee initiative NESCAFÉ Plan. Through Farmer Connect, Nestlé directly sources green coffee beans from local producers, helping the company ensure local supply of coffee to Nestlé’s factories. “Coffee buying stations enable coffee farmers to sell their coffee harvest based on the prevailing market price. By sourcing directly from local farmers, we are not only assured of long-term supply of the right quantity and quality of green coffee on which our brands depend, but it also secures robust coffee livelihoods for our small farmers,” De Leon said. Business ( Article MRec ), Read More …

Airport congestion is an emergency

Economy

Mar 012015

The air traffic congestion at NAIA produces the same, if not greater, negative impact on economic growth as the more visible Manila port congestion. A good international airport as the country’s gateway is essential to economic growth. NAIA’s congestion, like the Manila port congestion, constricts our economic growth. That 6.1 percent growth last year may have been seven percent if we did not have all these congestion problems at the airport, at the Manila port and at EDSA. It isn’t as if the NAIA congestion happened overnight. Our officials knew about it but did nothing. I showed last Friday that the Official Gazette published a Mar Roxas press release of three years ago that recognized the problem and announced, indeed promised, quick solutions. Mar left DOTC and Sec Jun Abaya miserably failed to follow up. The numbers from MIAA itself shows the number of aircraft movements (excluding military and general aviation) have remained static over the last three years. It was 235,517 in 2012, 236,870 in 2013 and 236,589 in 2014. The number of domestic flights declined 4.1 percent to 149,421 last year from the year-ago figure of 155,832. On the other hand, international flights increased 9.9 percent to 87,629 from 79,685. That shows foreign investor and tourism interest in the country. Passenger growth in terms of passenger volume managed to inch up by 3.1 percent last year, likely because foreign airlines are using larger capacity aircraft. MIAA data showed the number of domestic and international passengers reached 32 million last year Read More …

1,000 points in 40 days

Economy

Mar 012015

“What we are currently witnessing is a bull market in Philippine stocks.” – (Stock Market Outlook for 2015, Philequity Corner, Feb. 9, 2015) In just 40 trading days, the PSE index rallied nearly 1,000 points. From a low of 6,882 in mid-December, the index surged 14.2 percent to an all-time high of 7,862 last Wednesday – just a tad short of our interim target of 7,900 for the PSE index Given the steep market run-up in such a short time, many of our readers are asking what will happen to the market next? How did we come up with a PSE index target of 7,900 in the first place? Will the index reverse, correct, or continue upwards after hitting this level? Using of technical analysis as a tool While fundamental analysis (financial statement analysis, valuation, etc.) is the core of our investment decision making, we at Philequity use technical analysis to gauge market direction by identifying trends and patterns in charts. Technical analysis also serves as a guide post to time our buying and selling decisions. We also use technical analysis to “project” potential targets based on confirmed pattern breakouts. Thus, we came up with an interim target of 7,900 for the PSE index which is based on a “measured move” following the index breakout to new all-time highs above 7,400. What is a measured move? Business ( Article MRec ), pagematch: 1, sectionmatch: 1 A measured move is a basic concept in classical technical analysis. In essence, a measured Read More …

Bank lending growth eases

Economy

Mar 012015

MANILA, Philippines – The growth in bank lending and domestic liquidity continued to ease in January but the Bangko Sentral ng Pilipinas said both remains supportive of the robust economic growth. “The sustained expansion in bank lending amid adequate liquidity continues to provide a meaningful boost to domestic economic activity,” the central bank said. While lending by universal and commercial banks minus their placements with the BSP increased 17.3 percent to P4.39 trillion in January, it was slower than the revised 19.9 percent expansion in December. Together with placements with the central bank, lending climbed 16.6 percent to P4.66 trillion, also a deceleration from the 19.1-percent growth in December. Loans for production activities continued to make up bulk of the borrowings at 90.3 percent, while household loans accounts for 7.5 percent. Majority of the credit financed real estate (P780.91 billion); manufacturing (P691.38 billion); wholesale and retail trade (P627.19 billion); electricity, gas and water (P456.13 billion); and financial intermediation (P389.76 billion) activities during the month. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Consumer loans also jumped 20.5 percent to P337.03 billion on the back of a 25.7-percent climb in auto loans to P116.9 billion and a 83.2-percent surge in other loans to P58.44 billion. Credit card loans also increased 4.4 percent to P161.69 billion during the period. Meanwhile, M3 — the broadest measure of domestic liquidity — rose by 7.7 percent to P7.5 trillion, slower than the 11.3-percent expansion seen in December. The BSP said the increase in money Read More …

BSP still bullish on employment prospects in Phl

Economy

Mar 012015

BSP still bullish on employment prospects in Phl

The latest Business Expectations Survey showed construction companies were the most upbeat in their hiring intentions for the second quarter, followed by industry firms and those involved in wholesale and retail trade. File photo MANILA, Philippines – More jobs are expected to be made available in the second quarter as local firms continue to expand, a Bangko Sentral ng Pilipinas survey showed. “Consistent with expectations of sustained growth of the economy, the employment outlook index for the quarter increased to 25.6 percent from 24.1 percent last quarter,” the central bank said. “This indicated expectations of an overall increase in the number of new employees to be hired for the second quarter of the year,” the BSP explained. The latest Business Expectations Survey showed construction companies were the most upbeat in their hiring intentions for the second quarter, followed by industry firms and those involved in wholesale and retail trade. The upbeat employment outlook came as the number of local firms with expansion plans increased, based on the survey. “About one in every three respondent firms in the industry sector indicated expansion plans for the second quarter of 2015,” the BSP said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “Among sub-sectors, agriculture, fishery and forestry recorded stronger expansion plans while those of manufacturing were steady from a quarter ago,” the central bank added. The BSP last week reported the business confidence index slid to 45.2 percent in the first quarter from 48.3 percent in the fourth quarter last year. This Read More …

Fuel ‘just small part’ in power generation

General

Mar 012015

Fuel ‘just small part’ in power generation

NO MAJOR ISSUES. Veco chief operating officer Sebastian Lacson says there will be no major power issues for Cebu and assured that having the interruptible load program in place assures Cebu of 40 to 50 megawatts. (Allan Defensor) DESPITE the low price of oil in the world market, power rates in most of Metro Cebu have remained the same. An official of the Visayan Electric Co. (Veco) explained that the reason for this is the low fuel component in their energy mix. Veco chief operating officer Sebastian Lacson, who made a presentation before members of the Cebu Chamber of Commerce and Industry last Friday, said that from their sources of energy last year, only two producers make use of fuel and that the fuel components of what they produce is “very minimal.” Last year, they got 27 percent of their power from the Cebu Energy Development Corp. (CEDC) and four percent from the Cebu Private Power Corp. (CPPC). The CEDC had 28 percent fuel component while CPPC had 32 percent. “This is why the elasticity of the generation rate to fuel is very minimal. Fuel is a small component of our generation mix,” Lacson said. Last year, 29 percent of their energy came from Green Core Geothermal Inc., 30 percent from Power Sector Assets and Liabilities Management Corp. (Psalm) and 10 percent from the Wholesale Electricity Spot Market (Wesm). Lacson said that should the price of oil rise once again, this would have a positive outcome for power consumers because they are Read More …

Palace: PNoy to keep consulting, meeting with Senate, House leaders on BBL

News

Mar 012015

Palace: PNoy to keep consulting, meeting with Senate, House leaders on BBL

President Benigno Aquino III continues to consult and meet with the leaders of the Senate and the House of Representatives regarding the Bangsamoro Basic Law (BBL), a Malacañang official said Sunday. “Ang batid po natin ay patuloy ang kanyang konsultasyon at pakikipag-ugnayan sa mga lider ng Kongreso kabilang na ang mga lider ng Senado,” Communications Secretary Herminio Coloma Jr. said on dzRB Radyo ng Bayan on Sunday when asked if Aquino will also meet with senators to fast-track the passage of BBL. “Antabayanan lang po natin kung mayroon siyang ipatatawag na pagpupulong,” he said. The president met with House leaders and select lawmakers last week to discuss the BBL and the extent of his role in the Jan. 25 covert PNP-Special Action Force operation in Mamasapano, Maguindanao. He earlier asked lawmakers to honor the policemen killed in the clash by passing the BBL. Coloma said Aquino gives high priority to the BBL, which embodies the peace agreement signed by the Philippine government and the MILF in March 2014. “Batid po nating lahat na mataas ang prayoridad na ibinibigay ni Pangulong Aquino at ng ating pamahalaan sa pagpasa ng Bangsamoro Basic Law,” he said. Deliberations on the BBL were suspended by both the House of Representatives and Senate pending the results of investigations into the Mamasapano operation which ended in the death of over 60 people, 44 of whom were elite police commandos. The House Bangsamoro ad hoc committee reset the target date of approval of a draft report on the Read More …

Trillanes: Aquino will finish his term

News

Mar 012015

Despite multiple calls for President Benigno Aquino III’s resignation and rumors of a coup attempt, Senator Antonio Trillanes IV on Sunday said he believes the president will be able to finish his term. “Matatapos ni PNoy ang term niya. Wala tayong nakikitang threat,” Trillanes told dzBB’s Nimfa Ravelo in an interview. Critics have slammed Aquino for his unclear involvement in the Jan. 25 police operation in Mamasapano, Maguindanao in which 44 Special Action Force (SAF) commandos were killed. BBL However, despite his confidence that Aquino will be able to finish his term, the senator also said that the administration should not put a deadline on the Bangsamoro Basic Law, the supposed centerpiece of the peace accord between the government and the Moro Islamic Liberation Front. “Hindi ko sinasabi na ito ay malabo nang maipasa. Ang sinabi ko lang, ito ay hindi dapat na nilalagyan ng tanong,” he said. Aquino spokespersons have said that the BBL will be passed during the Aquino administration at all costs. The BBL will pave the way for the creation of the Bangsamoro Political Entity, which will replace the Autonomous Region of Muslim Mindanao. Trillanes said the BBL should not be forced, especially since trust has been lost between the MILF and the government after the Mamasapano incident. “Sinuman ang naunang pumutok, SAF man o MILF, nabasag na ang tiwala,” he said, adding that removing the deadline on the BBL means the MILF can negotiate with the government if the provisions of the law do not meet Read More …

Surrender of MILF fighters BBL ‘deal breaker’ – Solon

News

Mar 012015

Surrender of MILF fighters BBL ‘deal breaker’ – Solon

The Moro Islamic Liberation Front’s refusal to surrender fighters involved in a clash with the police Special Action Force (SAF) troopers last January could derail the passage of the proposed Bangsamoro Basic Law (BBL), a lawmaker has warned. Cagayan de Oro Rep. Rufus Rodriguez, chair of the ad hoc committee on the BBL at the House of Representatives, said the measure will face rough sailing if the MILF will not turn over its members involved in the Jan. 25 encounter in Mamasapano, Maguindanao since lawmakers are demanding for justice for the 44 SAF commandos killed in the incident. However, he said the MILF should only be asked to surrender its members once the Department of Justice (DOJ) concludes its investigation and identifies fighters from the Moro group as among those liable for the death of the SAF troopers. “If there is no finding yet and if the MILF is not going to surrender its people, there’s a big possibility that the BBL will lose in the House of Representatives,” Rodriguez told dzBB in an interview. Asked if the MILF’s refusal will be the deal breaker against the BBL’s passage, the lawmaker said: “Yes, that’s really the deal breaker if they (MILF) will not cooperate to achieve justice in the country.” April 2 deadline The MILF’s surrender of its members involved in the clash was one of the three conditions set by lawmakers to rebuild confidence in the group’s commitment to the peace process. However, the MILF has ruled out the Read More …

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