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Transport firm to pioneer electric buses in the Philippines

Roy — Sun, 01 May 2011 14:57:44 +0000

Local transport firm Green Frog Zero Emission Transport Corp. dared to take the huge risk in the electric vehicle industry and expressed interest to buy some 3,000 electric buses in the next seven years, with the initial 38 units coming in from China within the year.

Green Frog director Philip Apostol said the 36-passenger buses will be fielded in Makati City with an P8 fare trip. The first 10 buses arriving midyear will ply the Buendia line while the 28 units will take other routes. The buses will initially ply a route that goes along Buendia from EDSA to the South Luzon Expressway (SLEX). Eventually, they will be available to commuters with the whole of Makati.

“The plan is to implement to project within 90 days after the signing of the MOA (memorandum of agreement) with the Makati LGU. This is a PPP (Public-Private-Partnership) with Makati,” he said. Apostol admits that cost of the e-buses was high, but hopes that the government “would work” with them.

He did not disclosed the cost of the electric buses but said that normally, the bigger electric buses would cost $300,000 (P13.5 million) each. Green Frog’s buses, however, will be smaller and would cost less.

The company is seeking tax perks, among other incentives, and a pioneer status from the Board of Investments, to make the project economically viable.

Negotiations by the company with banks and government financial institutions have been started, seeking for the best financing package. It also seeks some guarantees from the Philippine Export Import Credit Agency (PhilExim) to get lower interest rates.

Apostol said the half of the revenues will be coming from advertising income to help keep fares at reasonable levels during the initial roll-out.

Another Green Frog director, Servillano Batac, said talks were also ongoing between government and financial institutions for the mechanics of a “tap-and-go” system for the electric buses. “The idea is that you will be able to use your MRT (Metro Rail Transit) cards to pay our electric buses, just like in other countries,” he said.

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Philippine-China trade and conference fair set on June

Roy — Sun, 01 May 2011 08:56:27 +0000

The China Council for the Promotion of International Trade (CCPIT)-Guangzhou and Philippine Chamber of Commerce and Industry (PCCI) recently signed a cooperation agreement to co-organize the Manila-Guangzhou Trade and Investment Conference slated to be held on June.

The event, which is aimed to further boost the Philippine-China trade and investment relations, is expected to gather around 500 business leaders, industry captains and government officials from both countries.

Part of the activities of the conference will be a product promotion through a virtual trade fair which would feature top export products of China, and business matching activities. There will also be office and factory visits to be arranged for the estimated 200 businesses and industry leaders comprising the Chinese delegation.

PCCI President Dr. Francis Chua said, “The Philippines and Chinese’ economies are open to mutual cooperation in trade and investments. While initially, the idea behind the conference is to promote Chinese-manufactured products for export to the country, we are making it a point to ensure that local enterprises and industries get maximum exposure and gain from the visit of top-level Chinese businessmen. That is why we are arranging business meetings and site visitations on the sidelines of the conference.”

China is the country’s top trading partner with export receipts reaching US$51.39 billion in 2010. Data from the National Statistic Office (NSO) show that the combined markets of China and Hong Kong in 2010 accounted for about 19.52 percent of the Philippines’ total exports.

Guangzhou Vice President of CCPIT Madame Li San Jian said, “China is a very big market. With increasing domestic demand and infrastructure development, Philippine export products such as mineral-and-metal-based resources as well as processed and fresh food products can easily gain entry into the Chinese market.”

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PLDT counters Globe’s claim

Roy — Sat, 30 Apr 2011 02:02:45 +0000

The Philippine Long Distance Telephone Co. (PLDT) said the claim of Globe Telecom that the deal between PLDT and Digital Telecommuncations Phil. Inc. (Digitel) would result into the monopoly of the telecom industry is only Globe’s way of protecting its interest at the public’s expense. PLDT criticized Globe’s effort to stop the deal that would allow the telecom giant to take over third-ranked mobile brand Sun Cellular.

PLDT said that the acquisition of Sun would actually result in a more efficient use of network facilities, which would lead to better services at lower costs. “Globe wants to create the impression of an impending monopoly by PLDT, which is not the case,” said Ray Espinosa, regulatory affairs head of the company. “What they really want is for the government to make up for their inefficiencies.”

Earlier, Globe asked the National Telecommunications Commission (NTC) to intervene in the deal between PLDT and Sun Cellular operator Digitel. Globe claimed that a monopoly would emerge from this deal and this could only work for the detriment of the industry and consumers. Globe also said that the deal would give the combined entity 3.5 frequencies for every one that Globe has, creating an imbalance.

Espinosa countered that based on the data available at the NTC, PLDT is in fact 23-percent more efficient than Globe in terms of frequency use. This means PLDT, which has 45 million subscribers, need more frequencies than Globe. He said Globe should instead allow market forces to work and let the consumers decide for themselves which is the better network.

With the claim that the PLDT-Digitel would give them 70 percent control of the market that would eventually kill competition, Espinosa said that at the end of the day, it all boils down on to which network can offer the better service, regardless of the size of the company.

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San Miguel eyeing NAIA 3

Roy — Mon, 25 Apr 2011 14:41:08 +0000

San Miguel Corp. said it is interested in taking over the operations of the Ninoy Aquino International Airport Terminal (NAIA) 3. San Miguel said it will join in the bidding for NAIA 3 should the government open it for privatization.

In its disclosure to the Philippine Stock Exchange, the company stated, “The company may participate in the privatization of the NAIA 3 in the event the government conducts a public bidding for the said infrastructure-related project.” It added, “As we have previously disclosed to the exchange, the company intends to actively pursue the Public-Private Partnership (PPP) programs initiated by the government.”

The conglomerate has already sent earlier an offer to privatize the NAIA 3, through unit Philco Aero Inc., its joint venture with Korean partners. San Miguel directed its privatization plan to President Aquino and the Manila International Airport Authority (MIAA).

The company now effectively adds NAIA to the list of airport investment it wants. San Miguel has a stake in the developer of Caticlan airport off the famous Boracay Island and has a pending offer to operate the Terminal 2 of the Diosdado Macapagal International Airport in Clark, Pampanga.

San Miguel has been effectively diversifying away from its core food and beverage business, and into heavy and high-growth sectors including telecommunications, oil refinery, power and infrastructure. The company last week sold $900 million worth of equity and convertible bonds to help fund infrastructure investments.

Meanwhile, NAIA 3 was expected to open in 2002 but was mothballed for 6 years due to a legal dispute with the Philippine International Airport Terminal Co. (Piatco), the consortium that built the terminal. The Supreme Court, however, cancelled Piatco’s contract in 2003, resulting in arbitration proceedings filed by Piatco and German shareholder Fraport AG, in Singapore and the US.

The International Center for Settlement of Investment Disputes ruling dismissed Fraport’s arbitration bid in 2007. But the said decision was reversed last year which prompted Fraport to revive its $425-million compensation claim against the Philippine government.

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China auto company to open manufacturing facility in the Philippines

Roy — Mon, 25 Apr 2011 10:22:44 +0000

Chery Automobile Ltd. announced it will build a manufacturing facility in the Philippines which will be the company’s left hand drive manufacturing hub in the Southeast Asia. Chery Philippines sales marketing manager Raymond Tribdino said the manufacturing facility will be constructed in the next three years. He said, aside from serving the local market, the company also plans to sell Philippine made vehicles to the ASEAN market. They plan to build Philippine specific models for both passenger cars and small vehicles.

“We will have a local partner. We will subcontract. We are in the trial phase and we are working out the shares in the company. We are not sure how much the total investment will be, but normally, one line costs more than $10 million,” Tribdino explained.

He also added that they would like to bring in cheaper electric vehicles to the Philippines and ASEAN market, “For electric cars, we would like to introduce the first commercially available electric vehicle.” Tribdino said the lithium ion battery is 60 percent of the price. The Chery full electric vehicle is estimated to be at P1.8 million but it could be more. For a single charge, it can run up to 250 kilometers.

Chery Philippines is asking the government to grant them incentives like a parking lot with charging station, lower registration rate and zero percent import duty from China. The current import duty is 30 percent. If the said tariff is removed or is the same as AFTA at one percent, Tribdino said the small e-vehicle will be cheaper at P1.057 million. Although the vehicle is over P1 million, he said the running cost is low with the high cost of fuels.

Tribdino also said they are looking to beef up their local sales as Chery China took over from old distributors Easy Way Motors. The company bought Easy Way’s assets worth P150 million. He said they are looking at matching their 2010 sales target last year which was 1068 units. Their 2010 sales stood at 1,134 units.

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Pancake House posted P73.66 M net income for 2010

Roy — Sun, 24 Apr 2011 10:41:35 +0000

Pancake House Inc. reported a net income of P73.66 million for 2010, a figure which more than doubled the P35.56 million it posted in 2009. The Lorenzo-owned casual dining restaurant chain attributed the growth to its outlet consolidation and realignment of resources to profit-generating activities.

The company also owns and operates various other restaurant brands, aside from its flagship store Pancake House. These are Dencio’s Kabisera, Teriyaki Boy, Singkit Sizzlin’ Pepper Steak and Le Coeur De France.

Pancake House, in its financial report submitted to the Securities Exchange Commission (SEC), said consolidated revenues slightly went up to P1.84 billion from P1.82 billion due to the increased company-owned restaurant sales. Total system-wide sale of the group amounted to P2.3 billion, which translated to a compounded annual growth rate of 3.2 percent over a three-year period.

However, the company commissary sales fell 5.8 percent to P311 million due to several closure of franchised outlets awaiting relocations. On the other hand, its franchise revenues amounted to P87 million in 2010 compared to P86 million in 2009.

Pancake House management said it was successful in the implementation of its plans and programs such as expanded synergies among the seven brands, strategic purchasing and resource optimization despite the increasing cost of raw materials and supplies, rental and utility rates.

The company’s operating expenses for 2010 rose 6.7 percent to P624 million which it said were due to the rising trend of occupancy costs such as utilities, rent and electricity, among other. The consolidated EBITDA, however, remained strong at P720 million with a sustainable margin of 16.6 percent. This is due to the company’s efforts in mitigating the continuous increase in costs and intensifying its targeted marketing and promotional campaigns.

The group said it would continue to consolidate some outlets or relocate them in more strategic, high-traffic areas such as restaurants in hospitals, international terminals and business centers. As of end-December 2010, it had a total of 171 stores across the country.

Pancake House Inc. reported a net income of P73.66 million for 2010,

a figure which more than doubled the P35.56 million it posted in

2009. The Lorenzo-owned casual dining restaurant chain attributed the

growth to its outlet consolidation and realignment of resources to

profit-generating activities.

The company also owns and operates various other restaurant brands,

aside from its flagship store Pancake House. These are Dencio’s

Kabisera, Teriyaki Boy, Singkit Sizzlin’ Pepper Steak and Le Coeur De

France.

Pancake House, in its financial report submitted to the Securities

Exchange Commission (SEC), said consolidated revenues slightly went

up to P1.84 billion from P1.82 billion due to the increased company-

owned restaurant sales. Total system-wide sale of the group amounted

to P2.3 billion, which translated to a compounded annual growth rate

of 3.2 percent over a three-year period.

However, the company commissary sales fell 5.8 percent to P311

million due to several closure of franchised outlets awaiting

relocations. On the other hand, its franchise revenues amounted to

P87 million in 2010 compared to P86 million in 2009.

Pancake House management said it was successful in the implementation

of its plans and programs such as expanded synergies among the seven

brands, strategic purchasing and resource optimization despite the

increasing cost of raw materials and supplies, rental and utility

rates.

The company’s operating expenses for 2010 rose 6.7 percent to P624

million which it said were due to the rising trend of occupancy costs

such as utilities, rent and electricity, among other. The

consolidated EBITDA, however, remained strong at P720 million with a

sustainable margin of 16.6 percent. This is due to the company’s

efforts in mitigating the continuous increase in costs and

intensifying its targeted marketing and promotional campaigns.

The group said it would continue to consolidate some outlets or

relocate them in more strategic, high-traffic areas such as

restaurants in hospitals, international terminals and business

centers. As of end-December 2010, it had a total of 171 stores across

the country.

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Ayala invests in hydro-electric power

Roy — Fri, 22 Apr 2011 05:33:57 +0000

Another venture that the Ayala group is breaking into is the hydroelectric power generation partnership. The conglomerate, through its wholly owned subsidiary Michigan Power Inc. (MPI) has entered into a joint venture agreement with Sta. Clara Power Corp., an independent power producer specializing in run-of-the-river power plants. Ayala Corp managing director John Eric Francia confirms this as stated in the company’s disclosure to the Philippine Stock Exchange.

MPI and Sta. Clara will be developing a run-of-the-river (ROR) hydroelectric power projects across the Philippines. MPI will take a 70-percent stake in the venture and has committed an initial equity infusion of about P600 million.

A run-of-the river hydroelectric power plant operation involves “borrowing” some river water to turn its kinetic energy into electricity and returning the same unpolluted water back into the river. Francia said, “It is considered as green because it does not produce harmful emissions. Like other renewable power technologies, it is economical as it depends on the free energy of nature as fuel.”

Speaking on the joint venture agreement, president and chief operating officer Fernando Zobel de Ayala said, “This venture builds on our current portfolio of renewable energy assets, which focuses on solar, wind and hydro power technologies. This is an important component of our plan to create a portfolio of power assets over the medium term that blends conventional and sustainable energy sources and contribute to the country’s energy requirements.”

The Ayala group has ventured into power generation as a key platform for future growth especially as demand for electricity is expected to rise in the years ahead. And since the company has yet to build its expertise in the industry, part of its strategy is forging partnership with other institutions.

In the next five years, the conglomerate plans to build a portfolio of power generation assets that will include both renewable and conventional with a capacity of 1,000 megawatts. Francia said that it is all “in line with Ayala’s campaign to augment the country’s power supply primarily through renewable and clean energy.”

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Cebu Pacific buys more planes to expand operations

Roy — Sat, 16 Apr 2011 01:33:20 +0000

Listed Cebu Air Inc. was the first company brave enough to hold an initial public offering (IPO) after the global financial meltdown. It was also the second largest IPO in the history of the Philippines Stock Exchange (PSE). From the IPO, the company was able to raise P23.3 billion. The bulk of the fund came from the sale of existing shares held by parent company JG Summit Holdings Inc. The company said that from its held IPO, only 30.66 million new shares were issued, which equals only to P3.8 billion fresh funds for expansion from the offering.

The operator of the budget airline Cebu Pacific has spent part of the proceeds from its IPO to purchase several new aircraft as part of its plan to expand operations. In its disclosure to the PSE, the Gokongwei-led airline said that from December 2010 to March of this year, it spent P619.12 million for pre-delivery payment of six new aircraft. As of March, Cebu Air had P3.12 billion left from the proceeds of its IPO, which is down from the P3.74 billion in IPO proceeds the company had at the end of last year.

In 2010, the airline company declared a $1.4-billion expansion program for the acquisition of new planes that would allow the airline to expand its domestic and international network. Cebu Pacific said it would buy 22 new Airbus A320 up to 2014, which will almost double the size of its current fleet.

Before the end of 2010, Cebu Pacific took delivery of three new Airbus A320 aircraft units with which to expand operations.

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SMC prepares for its foray in the telco industry

Roy — Wed, 13 Apr 2011 01:35:54 +0000

The corporate food and beverage giant San Miguel Corp. (SMC) is seriously mulling entry into the highly competitive field of telecommunication. The company plans to create a holding company for all its telecommunications interest as the conglomerate prepares for its grand entry in this field, according to a top official of the company. SMC president and COO Ramon S. Ang confirms “That is the intention, to create a holding company for our telco business.”

The company have already invested P9 billion so far in the local telecommunications business and plans to put in even more in order to build what it describes as a “next generation” network that will provide the best service and cheapest rate in the country. Ang emphasized that their business model for telecommunications guarantees one that will be better than what the other companies are giving.

SMC, at present, owns 41.5 percent of Liberty Telecom, 100 percent of Bell Telecom and 40 percent of Easter Telecom. Ang assured that they will not be wasting money, time and effort to establish a complete network that will just copy what is being offered in the market right now. “It will be a next generation, long-term evolution, mobile broadband, which is still being planned by others in the industry,” he said.

What is important right now, Ang noted, is to have a level-playing field in the telco industry. “But what I can assure you is that our service will be the best, no dropped calls, and very affordable rates. We will not waste resources if we will not do it right,” he said.

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Willie Revillame’s show goes on hiatus

Roy — Sat, 09 Apr 2011 02:36:41 +0000

After being put in the hot seat once again, controversial television host Willie Revillame announced last Friday that his program “Willing Willie” will be off the air temporarily. Revillame made the announcement after major sponsors started pulling their ads one by one.

The controversy started on the March 12 episode of “Willing Willie” where six year old Jan-Jan, who was one of the show’s contestants, was show dancing and gyrating his hips as if stimulating a striptease as show host Revillame was laughing and egging him, together with the show’s live studio audiences. All throughout, the boy was crying as he was dancing. This triggered strong rebuke from the public, government’s rights and social welfare agencies, child’s rights advocates and hundreds of concerned public.

Revillame, however, maintained that he did not abuse the boy and even hit broadside critics and telling government agencies to instead focus on helping the poor. He also threatened with lawsuit those who attacked him on Twitter. He said “Willing Willie” will be on hiatus for two weeks and after the Holy Week, the management of TV5 would decide if the show will continue to air or not.

Internet activist even created a page in active social media calling for Revillame’s oust from “Willing Willie” and a product boycott of the show’s sponsor, which thus far is unprecedented in the country’s history of consumer activism.

Taking on the cue, major sponsors started pulling their ads from show. Jollibee Foods Corporation last Saturday said it was “holding off” ad placements of its newly-acquired Mang Inasal restaurant chain. Procter & Gamble Philippines likewise suspended advertising on the show. Del Monte Pacific Ltd. followed suit and pulled off its sponsorship of the beleaguered primetime game show.

CDO Foodsphere Inc. also announced that it was withdrawing sponsorship of the show. A brief note in its website states that while the company they were jolted “out of our comfort zones” even as they maintained that they were “in no position to pass judgment” on the issue. Cebuana Lhuillier Pawnshop also announced it would stop advertising on the show beginning Monday.

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SPi Global named BPO company of the year

Roy — Fri, 08 Apr 2011 00:27:13 +0000

For the third straight year, the largest Filipino-owned business process outsourcing (BPO) company SPi Global was awarded in an annual BPO recognition ceremony. This year, it was named as “BPO Company of the Year” besting seven other finalists at the 5th International ICT Awards awarding ceremony organized by the Canadian Chamber of Commerce of the Philippines and the Business Processing Association of the Philippines (BPAP). The International ICT Awards is given every year to recognize successful organizations and individuals who contribute to the Philippine BPO industry.

Maulik Parekh, president and CEO of SPi Global said, “This is the third year in a row that SPi Global has been recognized by the International ICT Awards; the other two were Multi-Sourcing BPO Company of the Year and the Non-Voice Excellence awards.”

A subsidiary of PLDT, SPi Global delivers full-service knowledge-based outsourcing and customer relationship management solutions to diversified markets such as publishing, healthcare, financial services, entertainment and media, government and utilities, retail and telecommunications.

SPi Global is one of the world’s largest and most diversified Knowledge Process Outsourcing and Customer Relationship Management service providers in the industry, serving more than 500 clients worldwide. The company has more than 15,000 employees globally, spread across six countries in 24 different locations. It is the largest Filipino-owned BPO company employing 12,000 people in the Philippines.

The head of this year’s panel of judges for the ICT International Awards Richard Mills confirmed the company’s recognition saying, “SPi Global’s scale, the quality and diversity of clients, the depth and breadth of competencies, the life-changing impact to the beneficiaries of its CSR programs and its proactive involvement in various industry promotion and development initiatives make it stand out.”

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New aviation firm to invest in Clark airport

Roy — Thu, 07 Apr 2011 13:56:45 +0000

Another major aviation firm is going to invest in the Clark Freeport Zone. Metrojet, a leading business aviation firm in Asia is earmarking $40 million for maintenance, repair and overhaul of facility in Clark. Executive Secretary Paquito Ochoa Jr. said Metrojet will set up the facility in a three-hectare property inside the Clark Airport Complex in Pampanga.

The entry of Metrojet, which owns a fleet of 26 aircraft of various types and capacities, sends a strong signal to the international community that the Philippines is ready to play a central role in the global aviation industry. “The president has announced that the country is open for business, and the decision of Metrojet to set up a shop in Clark is proof that foreign investors are listening,” Ochoa said.

Metrojet is a part of Kadoorie Group which owns China Lights and Power Company and the Peninsula Hotel Chain. It is scheduled to begin construction of the project in June and will start its operations in Clark by the end of 2011.

The services to be offered by the aviation firm ranges from aircraft charter, comprehensive aircraft management, maintenance, co-ownership programs, aircraft acquisition and sales. Metrojet’s proposed heavy maintenance for Clark will also include avionics upgrade and exterior paint work for aircraft.

Presidential Communications Development and Strategic Planning Office (PCDSPO) secretary Ramon Carandang credited the efforts of the government “to improve aviation, to remove many of the restrictions on foreign carriers, to address the technical and safety issues raised by the FAA and the European aviation actions to ensure that it becomes a viable place for investments.” He added, “That investment by Metrojet is another sign that people are ready and willing to invest in Philippine aviation, even if we’re still in the process of improving the situation.”

Carandang said that Executive Order 29, or the open skies policy could be on the factors that might have motivated Metrojet’s decision. “I think the business community sees that our efforts are serious. I would say that that’s the kind of a vote of confidence for the efforts that we’re undertaking,” he said.

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Geneva Cruz strips anew for PETA

Roy — Wed, 06 Apr 2011 14:30:48 +0000

Filipina singer and actress Geneva Cruz once again has gone naked for a cause. Cruz went nude in the latest ad campaign of the People for the Ethical Treatment of Animals (PETA) Asia dubbed, “Go Natural, Go Vegan.”

In the latest ad, Cruz was stripped in her birthday suit and was only clutching an armful of tomatoes to cover her bosom in her bid to catch the public’s attention to stop eating meat.

Cruz, who stopped eating meat at the age of 15, said “For me, being vegan is not about the diet. It’s really about my love for all creatures. In addition to saving countless animals every year, the health benefits of a vegan diet are countless, whereas the consumption of animal-derived foods has been linked not only to heart disease and cancer but also multiple sclerosis and osteoporosis.”

In the latest ad, shot by renowned photographer Niccolo Cosme, PETA once again hit at the meat industry. The group said the industry employs “immeasurable cruelty” to animals raised and killed for meat, dairy products and eggs, adding that meat and dairy production can take a toll on a person’s health as well as on the environment.

“Animal grazing has been responsible for loss of topsoil and eventual desertification in many parts of the world. The animals destroy the land’s protective vegetation. Then wind removes the soil and converts formerly productive rangeland into desert. Forest lands in China and South America are being destroyed to clear space for grazing or to grow food for farmed animals,” PETA said.

Cruz said she became vegetarian after shooting a shampoo commercial in Palawan years ago. She recalled, “All the animals were just roaming free. All I had to do was feed one of them and say, ‘Natural!’ We kept doing that, take after take… I couldn’t support the meat industry anymore. Not after that.”

The singer-actress was also declared as the Philippines’ Sexiest Vegetarian in 2009. Other local famous vegans are Chin-chin Gutierrez, Yasmien Kurdi, and Alicia Mayer.

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Property developer mulls public listing

Roy — Thu, 31 Mar 2011 06:41:57 +0000

ACM Landholdings Inc., a niche property developer founded 18 years ago by two Filipina banking and finance executives based in Hong Kong, is planning to be listed in the Philippine Stock Exchanges to raise as much as P1 billion fresh fund to meet brisk demand for low-to medium-cost housing.

Thus far, ACM has delivered to as close as 10,000 homes in 15 projects in Cavite and Batangas. Company officials said that given the strong demand for housing units worth between P300,000 and P3.5 million, it plans to expand to new areas and even venture into mid-rise residential buildings.

ACM president Antonette de Guzman and Managing director Carolina Osteria, who were also the company founders, said that the company chose to conduct business in a low-profile manner in previous years. Now would be a good time to make its brand better known to a broader market given plans to expand its geographic reach as well as to tap the capital markets.

Osteria noted a 35% growth each year for the company from 2005 to 2009 and added that it would likely breach the P1-billion in revenues this year compared with P600 million last year. Net profit for 2010 stood at P144 million, and is expected to rise to P180 million this year. The company has a return of 18 to 20 centavos (P0.18 to P0.20) for every P1 sales made.

Going public has been in the pipeline for ACM. The company has already considered being listed in the stock market twice in the past, which was in 1997 and 2008, but both were preempted by the Asian crisis and the global financial crisis, Osteria said.

She added the company would like to raise fresh funds for expansion by selling to new investors through a private placement, however, they still want to push through with the planned stock market listing. ACM plans to expand to new areas like Davao and Iloilo, as well as foray into vertical projects and consider opportunities for growth through mergers and acquisitions.

Osteria said ACM might consider an initial public offering size of at least P500 million to as much as P1 billion and bring 30-40 percent of the company to public hands. The company have already started meeting with the PSE to lay the groundwork for the stock market debut.

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Globe continues providing low-cost rates for families of OFWs

Roy — Wed, 30 Mar 2011 01:00:06 +0000

In its effort to alleviate the plight of Filipino families who have love ones working abroad, Globe Telecom announced that it will continue to provide more affordable rates for international services.

Head of Overseas Filipino Communities and Alliances, Consumer Marketing of Globe Telecom Richie Sison said “In these times of uncertainties in other parts of the world, we recognize the need to stay in constant touch with friends and relatives who are overseas, with more options available, making IDD calls from the Philippines to the world has become even more affordable.” He added, “The mobile phone is still the most immediate way of contacting loved-ones abroad and we are making our international services available to ease the worries of our kababayan both here and abroad.”

The Globe IDD Sakto Calls promo will be maintained until April 30 to allow families of OFWs more flexible talk time with their loved-ones abroad. The IDD Sakto Calls give callers one of the lowest IDD rates in the country. For just 15 centavos (P0.15) per second, families here can call their loved-ones in United States, Hawaii, Canada, Hong Kong, China, Malaysia, Singapore, South Korea, Australia, Taiwan, Thailand, Kuwait, Equatorial Guinea, United Kingdom, and Saudi Arabia. These are mostly places with great numbers of Overseas Filipino Workers (OFWs). In other countries, the rate is 30 centavos (P0.30) per IDD second. These rates are about half the price of regular IDD calls.

Globe IDD Sakto Calls requires no registration. Subscribers only need to dial 12800 + country code + area code + phone number to call an international landline. For international mobile phone numbers, just dial 12800 + cellphone number. Without the 12800 prefix though, they will be charged with the regular IDD rate of US$0.40 per minute. This service is best for quick hi’s and hello’s and in giving updates and other short messages because of its exact, pay-per-use per second charging.

Other low-cost Globe products are tipIDD card for those who want the best per-minute rates, available in denominations of P25, P100, and P200. It offers rates as low as P2.5 per minute to US, Canada and Hong Kong.

For those who want to keep in-touch via text messaging, there’s ITXT50 which gives subscribers 100 international texts good for 10 days to 190 destinations worldwide for just P50. To register for the service, just text ITXT50 to 8888.

Globe Telecom is relentless in growing partnerships to provide the world-widest coverage and the most affordable offers to its subscribers. Globe currently has more than 25 international call and text products and offers in 17 countries that give lower rates for calls to the Philippines, and over 600 roaming partners from all over the world.

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Azkals to hold tryouts to beef up its line-up

Roy — Tue, 29 Mar 2011 01:33:14 +0000

To beef up their line-up, the Philippine football team will be holding try-outs on April 9 to 10 at the Gellert Park in Daly City, near San Francisco. Team captain Aly Borromeo and defender Anton Del Rosario will conduct the tryouts, they are looking to recruit talents in the 15-24 age bracket. Borromeo and Del Rosario will supervise the tryouts, together with US college football coaches.

Del Rosario said, “The players are coming from all over. There were at least eight from the East Coast looking forward to the tryouts in New York City but we’ve asked them to fly to San Francisco instead so we can assemble the players all together. It’s more practical to hold the tryouts in the US than ask the players to fly all the way to Manila. We’ve got players coming in from Canada, too.”

Borromeo justified their plan to recruit from the US because bringing in players from overseas to suit up for the national team is a reality in the global game, “It happens all the time,” he said. “In our case, we’ve learned to adjust to each other. Players come just a few days before a match and leave right after. That’s how it is with a lot of national teams whose starts play for clubs in other countries. We’ve become familiar with each other. Coach Weiss doesn’t mind. As long as we’re winning, he’s happy,” Borromeo added.

He said he is also on the lookout for players who can see action with the under-23 squad at the Southeast Asian (SEA) Games in Indonesia this November. Goalkeeper Neil Etheridge, 21, reliever Christopher Camcam, 16, defender David Basa, 21, striker Yannick Tuason, 21, Fil-German Patrick Hinrichsen, 20, and Fil-Dutch Jason de Jong, 21, are among the players now in the under-23 pool.

The Azkals made history when they qualified for the first to the Asian Football Confederation (AFC) Challenge Cup proper cup tournament after placing second in the group stage in Myanmar last week. They drew with Myanmar and Palestine and then defeated Bangladesh.

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Aboitiz group earmarked P49 B for its 2011 Capex

Roy — Mon, 28 Mar 2011 12:16:24 +0000

A total of P49 billion for its capital expenditures (capex) this year is being allocated by the Aboitiz Equity Ventures Inc. (AEV), the bulk of which will be used to fund its proposed coal-powered projects. According to company senior vice president and chief financial officer Stephen G. Paradies, P46 billion of the capex would go to Aboitiz Power Corp. (APC). “This is inclusive of the share of our partners in those power businesses where we have partners. So if you take just our proportionate share of APC, it amounts to P24 billion,” he explained.

Paradies said that the planned capex for APC would be used for the construction of a 300-megawatt coal-fired power plant in Subic, which will be done with their partner. He added that it is being considered that the capacity of the project would be increased to as much as 600 MW, and therefore, the project cost would increase too.

The APC was, according to Paradies, was planning to raise as much as much P51 billion in borrowings to specifically fund two power projects over the next few years. He explained earlier that the company would start arranging syndicated loans for its coal power projects in Subic and Davao starting on the second half of 2011.

For Subic, the planned borrowing could either be P17 billion, if they would stay with the original 300-megawatt coal facility, and P34 billion should they decide to pursue the increased 600-megawatt capacity. For its Davao facility, APC was looking at raising P17 billion for a proposed 300-megawatt coal fired power plant.

The amount cited though, as Paradies clarified, included only the debt portion of the planned projects and would be drawn down by APC in tranches over a certain period. He said for these borrowings, the company was looking at longer tenors of about 12 years.

The Subic coal facility is expected to start construction within the year, according to APC president and chief executive officer Erramon I. Aboitiz, who said that the company was already finalizing its engineering, procurement and construction contracts with Formosa Heavy Industries.

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Willie Revillame condemned for exploiting 6-year old boy

Roy — Mon, 28 Mar 2011 11:27:39 +0000

Willie Revillame once again finds himself on the hot seat, this time for subjecting a 6-year old boy named Jan-Jan to what others said was public humiliation on his primetime TV5 show Willing Willie. A YouTube video of the kid dancing and gyrating his hips like a macho dancer has gone viral and has been shared on Facebook countless times. The video generated a lot of angry reactions on via social media and from a lot of bloggers as well.

Most of the comments on the video noted the audience who all were laughing together with the show’s host, Revillame, as the boy was dancing, even as tears started rolling down Jan-Jan’s cheeks. Revillame even asked the boy to repeat the dance when he returned to his place near him, where Revillame mimicked him as he danced, giving him P10,000 afterwards.

The Department of Social Welfare and Development (DSWD), compelled by the ordeal that the 6-year old boy went through, condemn Revillame’s action and asked for the censorship of the show. DSDW Dinky Soliman wrote to Manny Pangilinan asking for censure of Revillame and to stop having children on his show. She also sent MTRCB a copy of the letter she sent to Pangilinan.

The latest on the news was Willing Willie show producer, Revillame and TV5 have already issued a public apology on the said segment featuring the 6-year old Jan-Jan, and said that there was never any intention to humiliate or abuse him or any contestant on the show.

The apology continued that “Willing Willie” is a program conceptualized to bring joy and hope and shine the spotlight on ordinary Filipinos. The program aims to provide a venue for everyone to show their talents, tell their stories and make their dreams come true. This is the thrust of everyone involved in the program, particularly its host, Revillame. It ended with the TV station and Wil Productions expressing “profound regret” for any insensitivity on their part, and thanked all those who have expressed concern.

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Sign saying “No Poor Allowed” is a hoax

Roy — Thu, 24 Mar 2011 16:37:07 +0000

Many were surprised, and dismayed, when a photo of a poster circulated on the web saying that poor people are not allowed in Greenbelt 4, a post mall in Makati City. The text on the poster read: “This is a private controlled environment. Poor people and other disturbing realities strictly prohibited. Thank you! Greenbelt 4 Ayala Land Corporation.”

The photo went viral in Twitter and Facebook, and many were offended, but a large number doubted the authenticity of the sign. Some believed that it could be a hoax and that Ayala Land would not do such a thing to tarnish its image.

It didn’t take long before an officer from Greenbelt spoke out and denounced as fake the sign that prohibits poor people in Greenbelt 4. The signage appears to be displayed in a dim area against the backdrop of what appears to be the garden portion of Greenbelt 4.

Ayala Land Inc. (ALI), owner and operator of the Greenbelt Malls, immediately issued a statement on its Facebook page hours after the photo was uploaded on the web. The company made clear that “the signage is not authorized and is not part of Greenbelt’s official mall signage.”

“The Ayala Malls management does not tolerate such pranks and is currently investigating the matter. We shall be coordinating with the proper authorities for corresponding actions to be taken,” ALI said “We would like to reassure everyone that Greenbelt is for the enjoyment of the public and the community it serves,” it added.

Armin Tan, the mall’s building engineer, noted an on the sign which proved that it is not authentic. The sign says “Ayala Land Corporation” whereas the real name of the company is “Ayala Land Inc.” He said the mall is investigating the source of the image and will come up with its findings in the next few days.

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Trans-Asia signed supplier deal with SEM-Calaca Power plant

Roy — Thu, 24 Mar 2011 06:27:48 +0000

Trans-Asia Oil and Energy Development Corp., a publicly listed firm, recently signed a contract with SEM-Calaca Power Corp. for the purchase of Trans-Asia of power generated from the Consunji-led Calaca Power Corp. Trans-Asia, in its disclosure submitted to the Philippine Stock Exchange (PSE) said it signed on Wednesday the contract “to purchase generated energy,” which will be valid for three years.

Trans-Asia President Francisco L. Viray said the company was buying the generated output as a retail electricity supplier (RES). He did not indicate though, how much of the plant’s output The company would buy from SEM-Calaca. Earlier, Trans-Asia was awarded a RES license by the Energy Regulatory Commission (ERC)

ERC chairperson Zenaida Ducut said that a RES license holder like Trans-Asia will be able to actively participate in the electricity market once open access and retail competition are put in place. Under an open access environment, large power users will have the option to choose their own power suppliers. Under the status quo, power users, whether big or small, are limited to the suppliers with jurisdiction over their areas.

SEM-Calaca Corpopration, is company formed by DMCI Holdings and Semirara Mining Corporation to Handle the Calaca coal facility, which was previously owned by the government through National Power Corp. The investment of SEM-Calaca in the Batangas coal facility was earlier estimated at $483.6 million which includes the acquisition cost of $361.7 million. The remaining $121.89 million will go to the rehabilitation and working capital requirement of the said power plant.