SMC, Lamco groups pay appeal fee for MRT-LRT ticket project

 Economy
May 302013
 
SMC, Lamco groups pay appeal fee for MRT-LRT ticket project

MANILA, Philippines – The Department of Transportation and Communications (DOTC) is set to look into the appeal filed by diversified conglomerate San Miguel Corp. (SMC) and Lamco Consortium that were disqualified from the bidding of the P1.72 billion automated and contactless single ticketing system for the Metro Rail Transit (MRT) and Light Rail Transit (LRT). Michael Arthur Sagcal, spokesperson of DOTC, said SMC and Lamco paid the appeal fee amounting to P8.6 million each as stated under the implementing rules and regulations of the Build Operate Transfer (BOT) law. The non-refundable appeal fee is equivalent to 0.5 percent of the total project cost as provided under the BOT law. Sagcal said Lamco paid the appeal fee last May 27 while SMC settled the amount last May 28. The DOTC has issued Special Bid Bulletin 05-2013 giving disqualified bidders of the Automated Fare Collection System (AFCS) project 15 days from the receipt of the notice of disqualification that were issued last May 7 to file an appeal and pay the non-refundable fee of P8.6 million. Another losing bidder, the MTD-PRLM consortium, failed to pay the appeal fee. The Mega Lucky United Consortium was also disqualified by the DOTC. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 SMC submitted qualification documents to the DOTC last April 12 through San Miguel Transport Solutions Consortium composed of Optimal Infrastructure Development Inc., Catchweight Holdings Inc., Deltacrest Holdings Inc., and Allcard Plastics Philippines Inc. to bid for the project. Its partners include Petron Corp., Philippine Read More …

SMC unit allots $1.5 B for 2 power plants

 Economy
May 212013
 
SMC unit allots $1.5 B for 2 power plants

MANILA, Philippines – SMC Global Power Holdings Corp., the power generation unit of diversified conglomerate San Miguel Corp., is investing $1.5 billion for the construction of two new power plants, its top official said yesterday. In a briefing with reporters on the sidelines of Petron Corp.’s annual stockholders’ meeting, SMC president Ramon Ang said the energy unit is spending about $1 billion for the construction of a 600-megawatt coal fired-plant in Bataan in northern Luzon and $500 million for another plant in Davao. Construction for the two plants has already started, he said. He said SMC Global may construct more power plants, depending on the viability and business climate. “We’re supposed to do more. We’re still evaluating the best option,” he said. The two plants should start operating in the middle of 2015, Ang said. He said there are no plans to borrow for the funding requirements for both projects. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “The (funding) will be in-house. Madami kaming cash,” Ang said. He also confirmed plans to revive the initial public offering (IPO) of SMC Global, possibly within the year. He said there is an interested investor who wants to come in. “There’s really a very hot buyer who wants to invest in that business,” he noted. He said SMC Global may sell as much as 49 percent, equivalent to $500 to $800 million. In 2011, SMC Global filed an IPO application before corporate regulators. The power generation firm earlier planned to raise Read More …

Gin, beer sales down due to sin tax

 Economy
May 092013
 
Gin, beer sales down due to sin tax

MANILA, Philippines – Higher taxes are taking their toll on liquor and beer producers, as drinkers seemingly get dissuaded from increasing their consumption. Conglomerate San Miguel Corp. (SMC), which owns Ginebra San Miguel Inc. and San Miguel Brewery Inc. (SMB), recorded substantially lower sales volume in the first quarter, its top executive said. “I think our beer and hard liquor businesses were greatly affected by the tax increase,” SMC president and chief operating officer Ramon S. Ang told reporters. “Our volume went down as much as 30 percent,” he added. Republic Act 10351 or the sin tax law took effect on Jan. 1, imposing higher excise taxes on tobacco and alcohol products in a bid to increase government’s revenues while discouraging heavy consumption of cigarettes, beer, liquor, wine, and other tobacco and alcohol products. Specifically, taxes for fermented liquor (beer) was pegged at P15 per liter if the net retail price is P50.60 and below per liter, and P20 per liter for those with a higher price. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The rates will rise to P17 and P21 in 2014, P19 and P22 in 2015, and P21 and P23 in 2016, respectively. For distilled spirits, the tax is 15 percent of net retail price plus P20 per proof liter, rising to 20 percent plus P20 in 2015. The ongoing election season is not enough to buoy sales of Ginebra and SMB. “Usually, before elections, the volume should be very strong but volume is not Read More …

Ongpin maintains passive stance in SMC

 Economy
Apr 032013
 
Ongpin maintains passive stance in SMC

MANILA, Philippines – Given his busy schedule developing upscale membership clubs, business tycoon Roberto V. Ongpin is maintaining a passive stance while holding on to his shares in diversified conglomerate San Miguel Corp. (SMC). The billionaire investor said he has big faith in the diversification strategies of the food-to-power conglomerate. “I will be holding on to that (SMC shares),” Ongpin said in an interview. “I am a great believer in SMC. I think (SMC president) Ramon Ang is one of the greatest managers,” he added. As of end-2012, Ongpin’s investment vehicle in SMC, Top Frontier Investments Holdings Inc., alongside Ang, businessman Iñigo U. Zobel and condiments king Jose Y. Campos, is the single largest shareholder in the conglomerate with a 39.16-percent stake. With Ang at the helm, Ongpin characterized his involvement in SMC as “passive.” Business ( Article MRec ), pagematch: 1, sectionmatch: 1 To date, Ongpin is focused on his high-end property firm Alphaland Corp. Alphaland’s projects under construction include the three-tower Alphaland Makati Place that will have a sports club, a mall and condominium units; the P4-billlion Balesin Island Club in Quezon province; and the P2-billion Alphaland Marina Club that will have 300 berths for boats of all sizes. Alphaland president Mario Oreta said Ongpin even holds office and manages the day-to-day operations in the 500-hectare Balesin Island, the property firm’s flagship project that will have 300 villas in seven themed villages. Alphaland still has a lot in its plate that will need the attention of Ongpin. Oreta Read More …

MPTC mulls expansion in Cebu, Asean countries

 Economy
Feb 052013
 
MPTC mulls expansion in Cebu, Asean countries

SINGAPORE – Metro Pacific Tollways Corp. (MPTC), the largest toll road management firm in the Philippines, is settings its sights on Cebu and countries like Vietnam and Indonesia for expansion. The tollway management unit of Pangilinan-led Metro Pacific Investments Corp. (MPIC) will pursue almost 120 kilometers of toll roads in the two Southeast Asian countries as it conducts a study for a P26-billion toll bridge in Cebu, company officials said. In a briefing, MPTC executives outlined the company’s expansion plans specifically in emerging Vietnam and Indonesia that, like the Philippines, need more infrastructures to help sustain robust economic growth. MPTC president Ramoncito S. Fernandez said the company has identified the Becakayu toll road project in Indonesia as an investment opportunity. “The project is envisioned to connect Jakarta to the eastern part of Bbekasi City,” he said. It will be divided into two sections: the 10.167-kilometer Casablanca to Jaka Sampura and the 10.875-km Jaka Sampura to Marga segment. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 PT. Kresna Kusuma Dyandra Marga, which holds the 45-year concession of the expressway, earlier discussed the project with Citra Marga Nusaphala Persada (CMNP) but the latter found the entry at the high side. There are plans to discuss with industrial firm Bouygues Group “for a potential partnership to include CMNP,” MPTC said. In Vietnam, MPTC is looking at the six-lane, 98.7-km Dau Giay Phan Thiet Expressway project. Key bid parameter is the viability gap financing amount requested by the bidder,” MPTC said. The first Read More …

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