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Philippine Peso weakens anew

Roy — Thu, 28 Jul 2011 22:05:33 +0000

The Philippine Peso weakened on Thursday as an effect of investors concerns in the local economy. After hitting its strongest thus far in three years early this week, the peso closed at 42.17 against the US dollar on Thursday. Down by 6 centavos from Wednesday’s 42.11.

Traders said it was an effect on the concerns over the debt situation in the United States. With the August 2 deadline drawing near, the US Congress has yet to agree on the debt ceiling of the US government, without which, it will be prevented from borrowing more to raise funds for its maturing obligations.

When the US faults in its debt payment, it sends jitters in the international financial community. Because most emerging Asian markets, the Philippines included, have significant exposure in the US.

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JG Summit to sell PLDT shares

Roy — Sun, 15 May 2011 12:15:30 +0000

JG Summit announced last Friday its intention to sell its stake in telecommunications giant Philippine Long Distance Telephone Co. (PLDT) to NTT DoCoMo of Japan. The Gokongwei-led company said it will be selling to NTT DoCoMo the 2.8-percent stake it will receive from PLDT as part of the telecom giant’s deal with the Digital Telecommunication Philippines Inc. (Digitel).

NTT DoCoMo was given the option to purchase the 4.56 million shares of JG Summit in PLDT for P2,500 per share, for a total amount of about P11.4 billion (approximately $263 million), although the deal is still subject to the closing conditions.

The PLDT shares will be issued to JG Summit as part of the P69.2-billion PLDT-Digitel deal that will allow the telecom giant to have a controlling stake in Digitel, the company that also operates the Sun Cellular network. In the said agreement, JG Summit will receive a 12.8-percent stake in PLDT’s enlarged capital.

From the 12.8-percent stake, 2.8 percent will be sold to NTT DoCoMo, leaving JG Summit with 10 percent in PLDT, which still entitle them to single seat in the board. In its disclosure to the PLDT, JG Summit said the transaction gives considerable value to JGS shareholder, yet still having enough participation in PLDT.

NTT DoCoMo, part owner of PLDT, is a leading telecom company in Japan. Under their agreement with JG Summit, it will have the option to purchase the PLDT shares within 30 days from the day they are listed in the Philippine Stock Exchange (PSE) board. The acquisition of the JG Summit’s share is part of the NTT group’s plan to maintain its cumulative stake in PLDT.

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NHI approved Charice’s rendition of Lupang Hinirang

Roy — Sun, 15 May 2011 04:01:23 +0000

After a series of boo-boo’s from the previous fights of Manny Pacquiao, the National Historical Institute (NHI) finally gave a thumbs up to the rendition of the Philippine National Anthem.

International singing sensation Charice Pempengco sang Lupang Hinirang before Pacquiao’s fight with Shane Mosley in Las Vegas, Nevada last May 8. Charice was personally picked by pound-for-pound champion to sing the national anthem in his fight.

The NHI said Charice did a great job in singing the national anthem. Chief of NHI Heraldry Section Teddy Atienza commended her and said it was the correct rendition of Lupang Hinirang. He said they will send an a-mail to Charice and her mother to congratulate them.

The institute have criticized the incorrect rendition of Lupang Hinirang by some local artists, most of which were performed during Pacquiao’s fight. Charice was in fact one of those reprimanded by the NHI for rendition of the national anthem in 2008.

Charice, after the 2008 incident, made sure she will not commit any mistake again. She was previously commended by the NHI in her rendition of the national anthem last year during the inauguration of President Benigno Aquino III.

During the Pacquiao fight, the NHI congratulates Charice and gave her the thumbs up for the following the national anthem’s march tempo.

Charice said she practiced hard for the Pacquiao fight in Las Vegas, adding that she even used a timer to make sure that her singing would follow the right tempo of the song. She said she did not want to upset the NHI again.

The NHI is very particular in the rendition of the Philippine National Anthem. Section 37 of the Republic Act 8491 states that the rendition of Lupang Hinirang, whether it is played or sung, should strictly adhere to the musical arrangement and composition of Julian Felipe. RA 8491 also states that violation of the said provision may the person to punishment by a fine of at least P20,000 or imprisonment of not more than one year.

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DOH wants medicine, support accessible to poor women with breast cancer

Roy — Thu, 12 May 2011 14:46:32 +0000

The Department of Health (DOH) and the Philippine Cancer Society (PCS) joined hands to launch a program that will allow poor women diagnosed with early stage of breast cancer to have access to medicines and other forms of support. The program hopes to increase the survival rates of breast cancer victims in the Philippines.

Department of Health Secretary Ona said that an awareness campaign should be made to make women realize that breast cancer is a curable disease when detected, treated and managed early. “Cancer is a costly disease, with the cost of medicines and treatment way out of reach for our many countrymen,” he said.

Ona added, “Women must have regular breast examination and never hesitate to go on a medical check-up especially those with lump in the breast before it is too late.”

The health secretary called on women with early stage of breast cancer to enroll in any of the four participating hospitals in Metro Manila. These are: East Avenue Medical Center (EAMC), Jose Reyes Memorial Medical Center (JRMC), Philippine General Hospital (PGH), and Rizal Medical Center (RMC).

Ona explained further that through a patient navigation scheme, targeted indigent Filipino women should be provided free medicine entitlement and other forms of support. The DOH and PCS partnership will provide P50 million for a year covering 800 patients and will target an initial 1,000 breast cancer patients. He also said that the there was an estimated 12,262 new cases of breast cancer in 2010 and 4,371 died of the said ailment.

The Philippines is among the countries with high incidence of breast cancer cases. Survival rate for breast cancer in the Philippines is below 40 percent compared to the high survival rates of 80 to 98 percent in developed countries.

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New reimbursement payment scheme to be adopted by Philhealth

Roy — Mon, 09 May 2011 10:27:19 +0000

A new payment system that will replace the present “fee for service” scheme in reimbursing hospitals will be adopted by the Philippine Health Insurance Corp. (Philhealth) and hopes to implement it next month.

The Philhealth plans to adopt a new system called the “case payment” system which will have fixed rates for medical services and surgical procedures to reimburse hospitals for treatment of Philhealth members.

Senior manager of benefits and development and research department of Philhealth Dr. Israel Francis A. Pargas said the case payment system will cover both medical and surgical procedures. He said the board discussion on the new scheme is almost over.

Pargas presented a draft during the recent annual convention of the Philippine College of Physicians (PCP), of the proposed amounts that can be reimbursed by hospitals on specified surgical and medical cases.

Among the fixed rates for service and procedures are: hemodialysis, P4,000; radiotherapy, P3,000; caesarian section, P15,000; Medical Care Plan (MCP), P8,000; appendectomy, P26,000; hysterectomy, P30,000; cholecystectomy, P31,000; dilation and curettage, P11,000; mastectomy, P22,000; herniorrhaphy, P21,000; and thyroidectomy, P31,000. For other diseases, reimbursement for essential hypertension case will be P9,000 and typhoid fever is P14,000.

Pargas said, “The new case rates shall be the new reimbursement for all the specified cases. It will apply to all claims by eligible Philhealth members and dependents admitted in accredited facilities.” He noted that the new scheme will moderate the financial risk to Philhealth and will provide high financial protection to beneficiaries and members and would mean less administrative cost for hospitals and Philhealth because it will not need any itemization.

According to Pargas, under the current reimbursement scheme which is the fee-for-service method, there is a high risk to payors, Philhealth and members and is also incentive for fraud. The present system also results in high administrative cost for hospitals.

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Bebeng intensified into a storm

Roy — Sat, 07 May 2011 12:32:56 +0000

The Philippine Atmospheric Geophysical and Astronomical Services Administration (PAGASA) said on Saturday that tropical depression “Bebeng” has intensified into a storm. According to PAGASA, Bebeng is threatening to hit the Bicol region.

Bebeng was spotted 220 kilometers east of Legaspi City with maximum winds of 65 kilometers per hour near the center as of 4 p.m. Saturday. PAGASA has raised public storm signal no. 2 on the following provinces: Sorsogon, Albay, Camarines Sur, Catanduanes, and Northern Samar.

The following areas were placed under public storm signal no. 1: Masbate, Ticao Island, Burias Island, Camarines Norte, Quezon, Polillo Island, Aurora, Marinduque, Easter Samar, and Western Samar.

It is expected to be around 69 kilometers northeast of Daet, Camarines Norte on Sunday afternoon, and by Monday, Bebeng is expected to be 110 kilometers north of Baler, Aurora or 70 km south of Tuguegarao City, Cagayan.

Meanwhile, the National Disaster Risk Reduction and Management Council (NDRMC) advised residents living near rivers and lakes in the northern part of the country to “take appropriate actions.” The NDRMC said that the 26 low-lying areas near the Bicol River Basis are likely to be affected by the slow rise in the water. Flooding may also be possible as basin rainfall will likely be moderate to heavy.

Bebeng has also caused the cancellation of at least six domestic flights in 10 provinces in Northern and Central Philippines. According to the Manila International Airport Authority media affairs division, the cancelled flights included Air Philippines’ flight to and from Catarman. Cebu Pacific also had it flights to and from Catarman cancelled.

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Trans-Asia stock rights offer approved by PSE

Roy — Sat, 30 Apr 2011 06:19:03 +0000

The Trans-Asia Oil and Energy Development Corp.’s plan to raise fresh fund for power generation via stock rights offer was approved by the Philippine Stock Exchange (PSE).

The Phinma-led company got the nod from PSE when the latter posted a memorandum on Friday saying that its board has approved the listing of 1.16billion additional common shares to be issued by Trans-Asia to cover an equity offering to all shareholders. Each eligible shareholder is entitled to subscribe to seven right shares for every 10 existing shares held as of record date of May 18.

The offer price of P1 per share represents a discount of 21.9 percent on the market price of Trans-Asia as of March 21, which was the date the stock rights offer was approved by the board of Trans-Asia.

The net proceeds from the stock rights offer, based on the memorandum, would be used to partly finance Trans-Asia’s equity investment in the planned 135-megawatt clean coal plant in Calaca, Batangas and its investment in Maibarara geothermal power plant.

Trans-Asia tapped on the services of ATR KimEng Capital Partner Inc. to be the underwriter of the stock rights offering which would run from May 30 to June 3 this year.

The Phinma group, which is composed of Philippine Investments Management Inc. and Phinma Corp., the principal stockholders of Trans-Asia, pledged to subscribe to any shares not taken up by other eligible shareholders.

Trans-Asia was originally into petroleum exploration, and later diversified to other industries like cement manufacturing, coal trading and power generation. This year, the company expects to generate a net profit of P482.23 million, which is a considerable increase from the P14.74 million it posted a year ago. Revenue is projected to rise to P1.7 billion from P894 million in 2010.

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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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DTI’s trade mission to India produces $42 M investment pledges

Roy — Fri, 22 Apr 2011 15:59:24 +0000

The Department of Trade and Industry (DTI) reported that their recent trade and investment mission in India have generated new investment pledges worth $42 million. Trade Secretary Gregory Domingo said they were from three energy projects and a pharmaceutical packaging ventures.

The Philippine delegates, led by Domingo, attended the recent ASEAN-India Business Fair and Conclave held in New Delhi in its bid to penetrate India’s trillion dollar market. Other members of the Philippine mission were the Department of Agriculture, Department of Tourism, Department of Foreign Affairs and the Philippine India Business Council of the Philippine Chamber of Commerce and Industry.

Domingo said he was able to convince Indian businessmen to invest in the Philippines during his first official trip, and the trade department’s first mission to India. “India is emerging as a source of foreign direct investments (FDIs) for the Philippines. Apart from BPO companies which are directed by their principals to open delivery centers in the Philippines, more Indian companies are continuing to realize the potential of the Philippines as a gateway to the lucrative ASEAN market,” he said.

The investment pledges acquired by DTI include two 20-megawatt stand-alone liquefied natural gas (LNG) power plants in Tawi-Tawi and in Cagayan as well as a 1.5-megawatt mini hydro electric power project in Abra.

According to Domingo, the trade department is working on several initiatives for Indian businessmen locating in the country which include the improved business registration procedures; and relaxed visa norms for senior executives of IT and BPO companies. Add to this, he also announced the recently inaugurated direct flights from Manila to New Delhi of the Philippine Airlines (PAL).

During their trip, Domingo also witnessed the signing of a memorandum of understanding (MOUs) between the Associated Chamber of Commerce in India (ASSOCHAM) and the Philippine Chamber of Commerce and Industry, and between the Federation of Indian Mining Industries and the Philippine Chamber of Mining Industries represented by Philip Romualdez, to promote trade, investments, and economic relations between India and the Philippines.

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PNOC-EC eyes expansion of coal production

Roy — Fri, 22 Apr 2011 12:35:27 +0000

The Philippine National Oil Company-Exploration Corporation (PNOC-EC) earmarked P900 million for the expansion of its coal mining ventures in Zamboanga Sibugay in Western Mindanao. The state-run oil exploration company said that its board of directors has already approved the special budget “to fund the development of existing coal mine” that will enable it to double its annual production of steaming coal to 500,000 metric tons.

The expansion is in line with company’s mandate to develop more sources of indigenous energy for the country’s needs. PNOC-EC’s coal mine in Zamboanga Sibugay is said to produce the highest grade of coal quality in the country. Developments in the mine are underpinned by the company’s coal operating contracts 41 and 152 as awarded by the Department of Energy.

Aside from its Zamboanga Sibugay mine, the company is likewise engaged in coal exploration and development activities in Isabela and Surigao del Sur via coal operating contracts 122, 141 and 140. PNOC-EC also operates coal terminals in Zamboanga Sibugay, Cebu, Batangas, and North Harbor for its integrated coal trading activities. These locations have been serving as handling facilities for local as well as imported coal which the company supplies to power plants and cement factories.

PNOC-EC is also into oil and gas exploration. It currently holds interest along prospect areas in Cagayan, Ragay Gulf, Offshore Mindoro, Calamian, West Calamian, West Balabac and East Sabina. Its biggest venture in oil and gas development to date is still the Malampaya deep water gas-to-power project. Its Service Contract (SC) 38 for the Malampaya field is only the acreage in the production phase; while the rest are still exploration blocks.

The company is also aligning a budget of $100 million for its next round of investment in the Malampaya project. Given its current financial standing, PNOC-EC noted that it is all set for capital infusion once the project consortium-members comes off for a “cash call.”

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PAL is expecting increased number of passengers for Holy Week

Roy — Fri, 22 Apr 2011 07:00:26 +0000

Flag carrier Philippine Airlines is expecting the number of its passenger this Holy Week to be slightly higher than those that they had last year. PAL predicted that from April 17 to April 24, it will fly close to 200,000 passengers throughout its network of 26 international and 20 domestic destinations. The airline also said that it will maintain its regular domestic and international schedules with minor adjustments in domestic flights on Good Friday and Black Saturday.

PAL is expecting its international passenger to exceed 90,000 which reflects a 5% increase compared to its 2010 figure. On the other hand, its total domestic passengers are expected to reach about 100,000, up from its last year’s figure of 97,838.

The airline claims that the positive passenger numbers only indicates their continuing confidence in the flag carrier, in spite of the many challenges they encountered.

The Philippine Airline’s flight for Holy Week (except for 16 domestic flights) will follow published schedules.

In observance of Good Friday and Black Saturday, the following will not be operated:

April 22 – PR131/132 & PR157/158 (Manila-Bacolod, v.v.); PR849/850 & PR855/856 (Manila-Cebu, v.v.); PR185/186 & PR281/282 (Manila-Cagayan de Oro, v.v.); PR187/188 (Manila-Cotabato, v.v.); PR821/822 (Manila-Davao, v.v.); PR139/140 & PR143/144 (Manila-Iloilo, v.v.); PR393/394 (Manila-Tacloban, v.v.); and PR123/124 (Manila-Zamboanga, v.v.)

April 23 – PR843/844 (Manila-Cebu, v.v.); PR181/182 (Manila-Cagayan de Oro, v.v.); PR139/140 & PR143/144 (Manila-Iloilo, v.v.)

For PAL employees who are required to report for duty between April 21 (Maundy Thursday) and April 24 (Easter Sunday), the company said they will get a special incentive pay.

PAL is giving the additional P700 per day on top of the daily rate, holiday pay (double the daily rate) and overtime to those required to work during the holidays.

Those who will be reporting on the said dates include pilots, flight attendants, ground staff, administrative personnel and management officials.

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Artists to hold free concerts for militaries

Roy — Tue, 19 Apr 2011 10:24:14 +0000

To cheer up the soldiers and help them get their mind off the corruption scandal involving former top military officials, a group of celebrity singers will perform in various military camps.

Led by the current president of the Organisasyon ng Pilipinong Mang-aawit (OPM) Olgie Alcasid, the group composed of Vice-president Noel Cabangon, Cookie Chua and Mitch Valdes, will start their free concerts at the Armed Forces of the Philippines (AFP) headquarters in Camp Aguinaldo on April 27, together with the pop band Syato Banda. The concert is dubbed “Himigsikan 2011: ROCKrakan para sa Kapayapaan.”

Performing with the celebrities on the stage will be three military bands – the Philippine Marine Corps. Combo, the Philippine Navy Seabees, and the Philippine Air Force 710th SPOW Combo. Together with them on list is Navy Lt. Chat Alvaro.

The OPM president said they’d rather entertain soldiers than join noisy anti-government protests. Alcasid said he thought of the idea of entertaining soldiers in February to boost their morale after learning how troop morale had been affected by a corruption scandal involving former AFP chiefs of staff.

“It must be difficult for them. It’s just our way of saying, we performers, we artists, we’re here for you. We are behind you. We support you, we support the new leadership and let’s start anew,” Alcasid said. He added the performers also planned to visit at least two other camps.

AFP Deputy Chief of Staff for Operations (J3) Brig. Gen. Jose Mabanta Jr. welcomes the gesture by the OPM officers. “This is a big booster. You know we’ve been getting it from all sides and we certainly appreciate this. We are really happy that friends are helping us.” He admitted that the corruption scandal had affected the troops.

The Camp Aguinaldo concert will be held on April 27, 2011 at 6 p.m. at the AFP grandstand. The event will be kicked off by a multicultural gathering and a “boodle fight” among 100 delegates from Muslim youths, indigenous people, Christians and young officers.

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Saudi grants Royal Clemency to Filipino drug mule

Roy — Tue, 19 Apr 2011 07:51:05 +0000

The Department of Foreign Affairs (DFA) announced on Monday that the overseas Filipino worker (OFW) who was sentenced to death in Saudi Arabia on November 2009 for involvement in smuggling shabu into the country was granted pardon and freed Sunday.

The DFA did not release his name, in deference to the request of his family for family.

The OFW was apprehended by Saudi law enforcement agents in February 2008 after he received a postal package with shabu hidden inside. The DFA said, smuggling and selling of illegal drugs in Saudi Arabia are crimes punishable by death.

The Philippine embassy in Riyadh exerted utmost efforts in ensuring that his legal rights were respected during the investigation process and in trial. He sentenced to death by a tribunal of three judges in November 2009. Through the Philippine embassy, the OFW filed an appeal.

Through the help of the Philippine post in Riyadh, two members of the tribunal reduced the penalty from death to 15 years imprisonment, 1,500 lashes, and a karama (fine) of 100,000 Saudi Riyals. The Embassy, citing the new ruling, included the name of the OFW in the list submitted to the Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz al Saud for the grant of Royal Clemency.

The DFA said, “The Embassy’s efforts were favorably acted upon, and he was ordered released after serving a total of three years in detention.” The OFW tearfully thanks the Embassy upon his release, for its relentless efforts for his freedom.

Charge d’Affaires (CDA) Ezzedin H. Tago said, “His release is testament to the hard work and tireless dedication of the men and women of the Philippine Embassy in Riyadh in safeguarding the welfare of every Filipino in Saudi Arabia.”

He is the third Filipino sentenced to death in Saudi Arabia whose released was successfully secured by the Philippine Embassy.

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Ayala stays firm in its investment in Globe

Roy — Mon, 18 Apr 2011 16:48:09 +0000

Despite of the looming merger of rival Philippine Long Distance Telephone Co. (PLDT) and Digital Telecommunications Philippines Inc., (Digitel), the Ayala Corp. said it has no plans of leaving the telecommunications business.

Ayala and partner Singapore Telecommunications Ltd. (SingTel) were excited about the prospect of its Globe Telecom Inc., despite the tougher competition brought about by the merger of its two rivals.

Jaime Augusto Zobel de Ayala, chairman of the country’s oldest conglomerate, said “I see no reason to disrupt the partnership between Ayala and SingTel,” when asked if they would be willing to accommodate a new investor for Globe. “It’s a very interesting for the industry. It would be foolish of us to get out at this time,” he added.

Analyst earlier said that the deal between PLDT and Digitel would give the telecom giant 70% of the mobile phone market to the disadvantage of Globe. However, Zobel said they remain unfazed by stiff competition in the industry. “In fact, together with our partner, we’re very interested in building Globe up,” he said.

He added that Globe would spend $500 million to upgrade its network as it looks to protect market share.

And while its Globe Company only ranked No. 2 in the telco industry, the conglomerate has a lot of high profile businesses.

It owns property Ayala Land Inc., Bank of the Philippine Islands, Manila Water Co., and it also has interest in business process outsourcing (BPO), electronics and car dealerships. This year, the conglomerate is hiking its capital expenditures by 20% to about P80 billion to accommodate plans to expand into power generation and infrastructure.

Ayala also plans to bid for the contract to operate 2 major elevated railway systems in Metro Manila, which the government will auction under its public-private partnership program. “We believe power generation is a potential source of long-term growth for Ayala. We feel there is an opportunity for new players to come in,” Zobel said.

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Sutherland is PEZA’s 2001 Employer of the Year

Roy — Sat, 16 Apr 2011 17:18:57 +0000

For the 3rd time, Sutherland Global Services Philippines is name Outstanding Employer of the Year by the Philippine Economic Zone Authority (PEZA). The 2011 Outstanding Employer honor was given to Sutherland at the recent PEZA Investors’ Recognition Night, which reflects the value that the company gives its people.

From 150 employees in 2005, Sutherland today has more than 13,000 employees, a growth of over 86,000 percent. However, the secret of success of a business enterprise is not just the quantity of employees but also more importantly, the quality of employment.

With their 3rd outstanding employer award, the company is assured the honor of being included in PEZA’s Hall of Fame in next year’s awarding. This is a distinct recognition given only for a handful of companies which have won the award three times.

The Outstanding Employer Award is sponsored by the PEZA in cooperation with Philippine Ecozones Association. It is given to organizations that generate the most number of jobs, hold high regard for the welfare of their workers, and maintain harmony between labor and management.

Sutherland Philippine’s management team, chairman and CEO Dilip Vellodi said, “To win this prestigious award year after year is a very strong testament to the dedication of our employees in the Philippines, who have all helped in making this happen.”

Vellodi added, “Since our launch in 2005, our operations in the Philippines have become a strategic component of our global service delivery model. The country’s favorable economic environment, business-friendly government policies and above all the technically skilled and committed workforce have been driving forces in our ability to rapidly scale our operations across several locations in the country.”

The business process outsourcing (BPO) company was also awarded the Philippine Quality Award (PQA) for Commitment to Quality Management during the 11th PQA awarding rites conducted annually by the Department of Trade and Industry. Sutherland holds the honor of being the first and only BPO company who has been given the award in the last 10 years.

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PLDT assured market would still be competitive after acquisition of Digitel

Roy — Fri, 15 Apr 2011 04:12:21 +0000

The Philippine Long Distance Telephone Co. (PLDT downplayed fears that its takeover of rival Digitel Telecommunications Philippines Inc. would hinder competition in the local telecommunications industry. The telecom giant in fact said that the PLDT-Digitel merger would even be beneficial to the industry and would bring in better services and more competitive prices for consumers.

PLDT’s Manny Pangilinan said, “We will keep Digitel as a separate company. This is not a merger… more importantly, we will maintain the unlimited and bucket-priced services of Sun Cellular.” He assured that the PLDT group will officially set itself to developing widely accessible, high-speed internet. “We will make a formal commitment to the government for the benefit of consumers,” he added.

Pangilinan said that the acquisition of Digitel will help PLDT roll out broadband services to 95 percent of the country “in three years.” At present, only two-thirds of the Philippines has high-speed internet access.

The PLDT statement came out in response to the concerns raised by some consumer groups and lawmakers that the merger would allow the telecom giant to market prices, ending the “price wars” that have helped keep telecommunication services at affordable rates.

Rival Globe Telecom of the Ayala group even asked the government “to look into the deal” between PLDT and Digitel. Globe said that regulators should consider ordering PLDT to relinquish some of its redundant frequencies following its takeover of Digitel’s operations.

Pangilinan replied that this should only be done in the event of a scarcity of frequencies for new players in the market, which is not the case. He said, “Our frequencies are enough for the subscribers we have.”

After acquiring Digitel, PLDT will acquire 67 percent of industry revenues. Seven out of 10 mobile users in the Philippines will also be on its network.

Pangilinan, however, admitted that due to the size of the agreement, which is valued at P74.1 billion, a state review may be “warranted.” He assured the government though that the market would remain competitive.

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Azkals to play in Manila

Roy — Thu, 14 Apr 2011 23:56:32 +0000

The popular football team Azkals will play in the country on July. Team coordinator Patrick Ace Bright confirmed on Thursday that the first qualifying match between Philippine’s Azkals and Sri Lanka for the 2014 FIFA World Cup will be held at the Rizal Memorial Stadium in Manila on July 3.

“This will not be the last time the Azkals will play here in the Philippines. We still have an upcoming match against Kuwait and we look forward to bringing the game here in Panaad (Park and Stadium),” Bright said. The Azkals will play a home and away game where the June 29 match will be in Sri Lanka.

Bright also added that by having the game in Manila, the will be able to transport its logistics to the country easily.

Philippine Football Federation (PFF president Mariano Araneta said that Panaad Stadium was also considered as a probably venue for the match against Sri Lanka. But he explained that PFF also wanted to hold the match here, since the country has not hosted an international match for quite some time. The latest of which was the 1991 Southeast Asian Games held at the Rizal Memorial Stadium where the Philippine Team reached semifinals.

Meanwhile, Philippine Olympic Committee (POC) chairman and PFF Advisory Council member Monico Puentevella said that since the capital of the Philippines is Manila, Manileños should be given the see the Azkals too. “I hope we don’t threaten the games here with the 30 percent amusement tax the next time it will be staged here. The Azkals will surely generate millions with this game in Rizal,” he said.

It could be recalled that last February, the match between the Azkals and Mongolia in Bacolod City, the Bacolod City Council passed a resolution charging the organizers with a 30 percent amusement tax on the ticket sales of the match. Fortunately, the city council waived the tax later upon the request of the PFF.

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Immigration barred 34 OFWs from leaving

Roy — Thu, 14 Apr 2011 02:04:46 +0000

The Bureau of Immigration (BI) barred 34 prospective overseas Filipino workers from leaving the country. The passengers were prevented from boarding a Philippine Airlines (PAL) flight to Bangkok after confessing that they were OFWs disguised as business travelers after intense questioning from immigration officers at the Ninoy Aquino International Airport (NAIA).

BI airport operations chief Lina Andaman Pelia said, “They were offloaded for not having the required clearances and employment permits from the Philippine Overseas Employment Administration (POEA).”

The Bangkok-bound passengers said they were supposed to find employment in Thailand. Some of them had work in Dubai and other Middle East countries. They were allegedly travelling on a business visa that was provided by a company in Dubai that was supposed to process their work permits in Thailand.

BI Commissioner Ricardo David Jr. commended the immigration officers for their vigilance and asked them to be more careful and step up their efforts in not allowing undocumented OFWs. The immigration office, however, refused to divulge the names of passengers as the anti-human trafficking law prohibits the public disclosure of both the traffickers and their victims.

During the course of their investigation, the immigration officer found out that the travelers were going to work for the Super Giant Touring Carnival owned by Apirom Properties Company Ltd., an affiliate of the Big Fun World based in Dubai and where many of the passengers previously worked.

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Splash reported 500-percent growth in 2010 profit

Roy — Wed, 13 Apr 2011 12:36:54 +0000

Splash Corporation reported its profit up to 500 percent to P144 million in 2010 from P23.74 million in 2009. The leading personal care manufacturer reported to the Philippine Stock Exchange that its big financial figures last year can be attributed to its strong performance across all its business segments – domestic, international and direct selling.

Splash president Eric Domagas said, “We posted higher net income due to efficient use of plant assets, tighter control on expenses, (and) launch of our new products.” He added, “We are confident that the company will continue to post double digit growth this year. We believe in the continued growth of our direct selling and international business segments.” Net sales for 2010 were recorded at P2.99 billion, up by 9.8 percent from 2009’s P2.72 billion.

The company’s capital expenditures in 2010 were registered at P69 million, from a previous P21.3 million in 2009. For 2011, the company’s board approved higher capex amounting to P426 million, most of which will be spent for plant capacity expansion, improvement of facilities and enhancement of information systems for international and direct selling operations.

Splash’s skin whitening captured the growth in product sales in 2010, reaching P1.3 billion, followed by skin exfoliants at P1.04 billion and hair products at P542.3 million. International operations recorded net sales of P407.98 million last year, up by 67.5 percent from P243.58 million in 2009.

The company has also set up subsidiaries and offices in the Middle East, Indonesia and Asean region, which helped it gain a foothold in international sales. Meanwhile, direct selling business recorded a big growth in net sales reaching P40.8 million last year from P3 million in 2009.

Splash direct selling head Glenda Pingol said, “Splash direct sales will be very aggressive in its effort to build its pioneer network for the year 2011.”