Dec 312015

MANILA, Philippines – The Department of Transportation and Communications (DOTC) has issued the schedule of one-on-one meetings with pre-qualified bidders for the P18.99-billion Davao Sasa Port Modernization public-private partnership (PPP) project.

The DOTC said the one-on-one consultations with pre-qualified bidders would be held on Jan. 18 to 20 at the Philippine Ports Authority head office in Port Area in Manila.

The groups that have been pre-qualified to bid for the project are Asian Terminals Inc. – DP World FZE Consortium; Bollore Africa Logistics; International Container Terminal Services Inc.; Portek International Pte. Ltd. – National Marine Corp. Consortium; and San Miguel Holdings Corp. – APM Terminals Management (Singapore) Pte Ltd. Consortium.

The project covers the development of the existing Davao Sasa Port in Davao City into a modern, international-standard container terminal to improve trade access to Mindanao.

Under the 30-year cooperation period for the project, the winning private firm will be responsible for funding the construction and other development works at the port including the new apron, linear quay, expansion of the back-up area, container yards, warehouses, and the installation of new equipment like ship-to-shore cranes and rubber-tyred gantry.

The private partner will likewise be responsible in operating and maintaining the port.

Business ( Article MRec ), pagematch: 1, sectionmatch: 1

The submission of bids for the project is set on Feb. 26.

The project is facing opposition from the city council and business community of Davao City.

The city council of Davao earlier issued a resolution to block the bidding of the project citing it was not consulted and has not given approval to the deal as provided for by the Local Government Code.

The business community of Davao also raised other concerns on the project such as possible worsening traffic congestion in Davao City as well as absence of a plan for cruise tourism.

Dec 312015
Citadines Salcedo bags 1st BCA Green Mark in Philippines

MANILA, Philippines – Ascott Limited’s Citadines Salcedo Makati, a premier serviced residence, was recently awarded the Green Mark Award by the Building and Construction Authority of Singapore (BCA). The property had undergone BCA’s stringent comprehensive framework of assessment, which is focused on the building’s sustainable design, construction, and operational practices aimed at reducing the adverse impacts of the building on the environment and occupant health over the entire building life cycle. Citadines Salcedo Makati is the first serviced residence in the Philippines to be BCA Green Mark-certified. The BCA Green Mark evaluates buildings to primarily shape a more environmentally friendly and sustainable built environment. The buildings are assessed based on energy and water efficiency, environmental protection, indoor environmental quality, and green and innovative features that contributed to enhanced building performance. Ascott Limited has been a strong advocate of green living, adopting a global campaign “Go Green @Ascott.” With the vision of being the leading green-serviced residence company, Ascott is constantly on the lookout for breakthroughs in green technology and practices, and more green products available. Citadines Salcedo Makati has incorporated energy-and water-saving features throughout the property help reduce carbon footprint. The building was built to conform to global environmental specifications by using energy-efficient lighting, which makes use of LED lights that burn less energy, practically maintenance free and lasts longer than traditional incandescent light. Apartment toilets feature water-saving fittings such as dual flush toilet cisterns to cut down on water consumption. Citadines Salcedo Makati is also designed to make good Read More …

Dec 312015
How Property24 transformed Ramil Alquieta from once-broke into a multi-awarded broker

MANILA, Philippines – Listing properties through online real estate portal Property24 proved to be a boon for award-winning broker Ramil Alquieta. Hailed as Broker of the Year by Banco de Oro for three consecutive years (2013-2015), Alquieta is the entrepreneur behind My Saving Grace Realty and Development Corp. (MSGRDC), a firm that provides a wide selection of properties – from bank-foreclosed assets to value-for-money homes – to potential buyers and property investors. MSGRDC currently has a sizable number of properties listed on, assuring the company access to a viable market and substantial returns. By listing on Property24, MSGRDC has sold thousands of properties to satisfied customers. This is a far cry from where Alquieta was barely a decade ago, when mounting debts rendered him broke and homeless for a while. But, barely three years since setting up MSGRDC, the firm has sold over P500 million worth of houses and foreclosed properties which Alquieta claims was mostly due to hard work, perseverance and doing one’s best at a job. Alquieta and MSGRDC pride themselves on professional integrity and optimal customer service. He adds his company treats clients with due respect, given that every centavo they invest come from hard work and sacrifice. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Likewise, the company makes it a point to help others, specifically overseas Filipino workers, improve their standing in life by helping them get their dream homes and even start their own businesses. Property24 Philippines is a subsidiary of, Read More …

Dec 312015
Napocor bidding contract for Agus 6 maintenance

MANILA, Philippines – The National Power Corp. (Napocor) is auctioning off a contract for the regular maintenance of the Agus 6 hydroelectric power plant (HEPP) in Iligan City, one of the critical power sources in Mindanao. In a bid bulletin, the agency is inviting interested bidders for the P4.79-million contract for dam embankment clearing and strengthening at Agus 6 HEPP spillway area. A pre-bid conference is set on Jan. 11 while deadline for bid submissions in on Jan. 28. The undertaking is necessary for the continued supply of the power plant to the Mindanao grid, especially as El Nino is projected to extend its adverse impact until the first half of this year. The operations of the Agus HEPP have a critical impact on the power supply demand in the Mindanao grid. In 2014, the Agus 6 HEPP only generated 80 megawatts from its dependable capacity of 171 MW due to repairs to plug a leakage in the its blow-off pipe. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Silt and clay deposit caused the leakage in the dam’s blow-off pipe. In separate bid bulletin, Napocor is also bidding out a total P45.72 million worth of contracts to provide security services for several government-owned facilities in the Visayas. Napocor said it is looking for interested firms for the procurement of security services facilities for the Small Power Utilities Group (SPUG)-Western Visayas Operations Area, SPUG-Eastern Visayas Operations Area and SPUG-Palawan Area. Each contract involves providing manpower security for the plants Read More …

Dec 292015
Philippines joins China-led AIIB

Filipino workers arrange metal rods at a government road project in suburban Quezon City. The government said it is joining the Asian Infrastructure Investment Bank, aimed at boosting infrastructure development and connectivity. AP/Aaron Favila MANILA, Philippines – The Philippines will officially join the China-led Asian Infrastructure Investment Bank (AIIB), becoming its last member before the end of the year, the government announced on Wednesday. “The Republic of the Philippines will be signing the Articles of Agreement (AOA) of the Asia Infrastructure Investment Bank before year-end, joining the newly created multilateral institution aimed at boosting infrastructure development and connectivity,” the Department of Finance (DOF) said in a statement. According to the DOF, Finance Secretary Cesar Purisima was given authority by President Aquino to sign the AIIB Articles of Agreement. If unable to do so, Erlina Basilio, Philippine ambassador to China will sign the pact on behalf of the Philippines. The authority was just given on Wednesday, two days before the deadline for prospective founding members (PFMs) to sign with AIIB. The country will be the last of the 57 PFMs which have signified intention to join the AIIB early this year. The AIIB pact came into force on Christmas Day with the ratification of the agreement by 17 countries. The AIIB will have a paid-in capital of $20 billion and total authorized capital of $100 billion. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Days before the deadline, there was little sign the Philippines will join the Beijing-based multilateral lender Read More …

Dec 292015
PSEi closes 2015 in negative territory

The benchmark Philippine Stock Exchange index (PSEi) retreated 31.53 points to close at 6,952.08 from Monday’s 6,983.61. It was also 3.85 percent lower than the previous year’s close of 7,230.57. File photo MANILA, Philippines – Philippine stocks tumbled yesterday, marking the last trading day of the year in negative territory to which analysts attributed to a combination of global and local developments that influenced the market in 2015. The benchmark Philippine Stock Exchange index (PSEi) retreated 31.53 points to close at 6,952.08 from Monday’s 6,983.61. It was also 3.85 percent lower than the previous year’s close of 7,230.57. Likewise, the broader All Shares index finished at 3,990.47, down 5.69 points or 0.14 percent from Monday’s close. All other indexes except for two barometers closed in negative territory, with losers led by the property and holding firms, which declined by 0.64 and 0.50 percent, respectively. Value turnover was P6.46 billion. IGC Securities Inc. president Ismael Cruz said while the index closed in negative territory, the market is still on a bull run. “While it ended up being a down year, we should take note the bull run is still intact,” he said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Cruz said a credit rating upgrade in the near future may boost the market. Fitch Ratings said the Philippines could receive another upgrade if the reforms undertaken under the leadership of President Aquino would be sustained in the next administration. “Increased confidence that these trends will be sustained under the Read More …