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SMC to complete construction of MRT 7 by 2014

Roy — Fri, 06 May 2011 05:24:12 +0000

The San Miguel Corp. projected that by 2014, it will be finished with its construction of the Metro Rail Transit (MRT) 7 line, and by 2015, the new highway to La Union. San Miguel said in its disclosure to the Philippine Stocks Exchanges (PSE) that before the year ends, it would start work on the MRT 7 line which involves the construction of a 22-kilometer train line and the six-lane road beneath it.

The MRT 7 line will have 14 train stations from San Jose Del Monte in Bulacan to the corner of North Avenue and EDSA in Quezon City. It will be linked with the MRT 3 train line and the Light Rail Transit (LRT) line 1 via a common station in North Avenue.

The project is estimated to cost $1.5 billion, 25 percent of which will be funded by company’s equity and the rest through loans. San Miguel expects to shell out around $190 million for the said project.

The MRT 7 line is one of the several rail extension projects for the existing metro rail systems which services Metro Manila. San Miguel acquired a 51-percent equity interest in Universal LRT, which holds the concession for MRT 7. The conglomerate will have 25 year to operate the train line.

As for the Tarlac-Pangasinan-La Union Expressway (TPLEx) project which will stretch from Tarlac to Carmen, Pangasinan, San Miguel said the first phase of construction was scheduled for completion by August 2012. Revenue collection through toll will start immediately after the first phase is opened, “while the remainder of the expressway is projected to be completed by August 2014.”

The estimated project cost for the development of TPLEx is P821.6 billion, which will be funded by a combination of debt, equity, and Philippine government subsidy. The subsidy from the government will be available at the start of construction of Stage 3 of TPLEx which is the section from Urdaneta to Rosario, Pangasinan.

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8 companies eyeing the right operate MRT and LRT 1 lines

Roy — Thu, 05 May 2011 05:51:12 +0000

Eight companies are vying for the operations of major Metro Manila train lines. Conglomerate Ayala Corp., San Miguel Corp., and Pangilinan-led infrastructure giant Metro Pacific Investments Corps. are the local groups planning to bid for the P15-billion contract, while five foreign companies have also acquired bid documents worth P500,000 each for the project, according to the Department of Transportation and Communications (DoTC).

The DoTC said that the bidding schedule has been set on July 11. Interested bidders may purchase bid documents until July 11.

The contract being eyed by the bidders involved a five-year operations and maintenance contract for the Metro Rail Transit (MRT) and Light Rail Transit (LRT) line 1. This is the first project under the administration’s public-private partnership (PPP) infrastructure program.

US-based Abratique & Associates, London Stock Exchange-list Serco Group, multinational Jorgman Construction and Development, and Japanese companies Sumitomo and Marubeni completes the list of eight groups bidding for the said license. A total 44 companies, most of which are from abroad, have expressed interest in the project.

But the DoTC kept on trimming down the list by telling companies it deemed not likely to stand a chance to win the contract not to bother joining the bidding. Companies were screened in terms of their financial capability and technical expertise. Companies that were affiliated with other potential bidders were also disqualified from the bidding.

The winner in the bidding process will get the contract to operate and manage both train line for four years with an option extend it for another year.

The DoTC hopes that by bidding out a single contract for the LRT1 and MRT train lines would lead to the integration of the train line. The lack of connectivity between the two lines has been causing inconvenience for the one million passengers that use both train lines every day.

The LRT line 1 runs along Taft Avenue from Baclaran in Pasay City to Roosevelt, Quezon City, while MRT runs from Taft Ave. to North Avenue along EDSA.

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Nestle Prize in Creating Shared Value now open for nominations

Roy — Sun, 24 Apr 2011 03:04:12 +0000

The Nestlé Prize in Creating Shared Value is open for nominations. The award, which is open globally, aims to recognize an individual, non-government organization, or small enterprise working in the field of nutrition, water, or rural development. The nomination will be open until June 30, 2011.

The Nestlé Prize in Creating Shared Value was launched in 2009 and offers advice and financial support of up to CHF 500,000 (more than US$480,000 or approximately P23 million), to an innovation or project that has shown outstanding promise in improving access to, or management of, water, enhancing the lives of farmers and rural communities; or providing better nourishment to communities suffering from nutritional deficiencies.

Those who are eligible for nominations are individuals, non-government organizations (NGOs), or small enterprises. Their projects should already have achieved small scale success, it must be implemented in a developing country, and it should be based on a sound and sustainable business model.

The fields of achievements include, but are not limited to, agriculture, including extension services and use of new technology; food science and technology; nutrition education programs; water management; protection of water resources; and the like. Applicants may either self-nominate or be nominated by others who are familiar with their work. To ensure long-term success, the Prize Laureate is supported by a financial commitment over a period of time to assist in the development of their project or innovation.

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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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PNOC-EC prepares for public offering of its stocks

Roy — Sun, 10 Apr 2011 00:58:14 +0000

The PNOC Exploration Corp. is already starting its preparations for a public-offering of its shares after its directors finally gave the go-ahead. However, the board deferred to give its decision on the actual date so as to be able to pinpoint the proper timing and conditions, according to PNOC-EC chair and CEO Gemiliano C. Lopez Jr., to ensure the highest market price for the shares.

Lopez said, “We hope to ensure the best price for the offering so the board has not fixed the actual date for its float. Timing is important. We would like to assure everyone that the best condition will be obtained for the offering so that our company will get the best and highest price possible in the global market.”

PNOC-EC needed to hold a public float of at least 10 percent of its shares of stock, which is required for a publicly listed company. The government, through PNOC, has 99.71-percent stake in PNOC-EC while the public owns only 0.29 percent. Lopez said the preparations of the documents from the start up to the end of the float could take six to eight months.

The company has not appointed any lead underwriter yet. It is still choosing among the eight prospective financial advisers it has been in talks with. It will send out invitations for interested and potential parties in the next couple of days.

It will be the company’s 35th founding anniversary celebration next week and President Aquino will be its guest of honor and principal speaker. During the said celebration, Lopez will officially turn over to the national government the P3 billion in cash dividends earned in 2010. PNOC-EC earned P2.42 billion last year, up 34 percent from the previous year’s P1.8 billion.

This year, the company allocated P5.25 billion for the exploration and development of prospective petroleum and coal resources within its service contracts. Among PNOC-EC’s priority exploration and production projects are the Malampaya gas project in Palawan, the planned power plants in Isabela province and Malangas in Zamboanga Sibugay, and the Lumbong coal project in Zamboanga Sibugay.

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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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NSO to conduct survey on businesses establishments

Roy — Mon, 28 Mar 2011 07:13:56 +0000

A survey of the businesses in the Philippines will be conducted by the National Statistics Office (NSO) this year. The project called, the Annual Survey of Philippine Business Industry (ASPBI), will start as soon as the NSO personnel have finished with their training for the conduct of ASPBI, according to NSO-Cordillera Regional Director Olivia Gulla. The aim of the survey is to get the statistical data on the activities of business establishments here in Cordillera.

Gulla said they have just finished with their second level of training. Participants for the training were regional and provincial statisticians and statistical census officers. After their training, they will then, in turn, train those who will be involved with the ASPBI survey in their respective provinces.

NSO Statistician III Jean Floirendo said, the ASPBI survey aims to determine regional revenues or income of business establishment in the region. This would help in determining the productivity and value added indicators of the business industries not only here in Cordillera but to all parts of the country.

Floirendo, who was assigned by the NSO central office to conduct the said training, called on all business establishments in the region to support the said survey, and assured respondents to the survey their reply will be treated with utmost confidentiality.

The questionnaires for the said survey will be distributed on April and the collection of data will commence on May. Among the data involved in the survey are the number of establishments, number of employment generated, compensation each establishment pay their employees, the revenue and the cost of operating such business.

Based on the last completed ASPBI survey done on 21,040 business establishments nationwide, which have employed 20 or more workers, they have provided employment to about 2.74 million Filipinos nationwide, which also provided a total revenue to the government of about P6.9 Trillion.

The manufacturing sector also got the most part of the pie with 21.9 percent of the total establishments surveyed, followed by the wholesale and retail sector with 19.5 percent, followed by the hotel/restaurant and education sector, with 14 and 13.6 percent, respectively.

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Canlaon to put up P5.2B bioethanol plant in Negros Occidental

Roy — Thu, 17 Mar 2011 21:32:25 +0000

The Canlaon Alco Green Industrial Corporation will be investing P5.192 billion for a bioethanol plant in Bago, Negros Occidental. And because of its multi-million investment in the bioethanol project, Canlaon will be receiving six years worth of income tax holiday (ITH), according to Lucita P. Reyes, executive director of the Board of Investments (BOI).

Reyes said that the bioethanol project is one their banner investments for the first two months of the years, which helped propel their 185 percent investment growth for January to February, compared to the same period last year. BOI investments stood at P28.237 billion.

Canlaon applied for the incentives from the BOI and it qualified for the ITH under the Investment Priorities Plan (IPP) of the government. The bioethanol plant is expected to be operational by December 2012 and is projected to produce 52.2 million liters of bioethanol per year.

Reyes said that despite the Canlaon’s investment, the country still lacks bioethanol. She said that by 2012, the demands for bioethanol locally will be 849 million liters. At present, there seven bioethanol plants operating with their 2012 productions expected to reach only 193 million liters. There will still be a deficit even with the 52.2 million of Canlaon’s. “We still need to encourage more investments in bioethanol,” she added. The Canlaon plant will be supplying the bioethanol to local petrol companies, according to Reyes.

She also said that aside from the bioethanol, the production site will have a byproduct of purified carbon dioxide. This will be sold to beverage companies. The project will employ 160 workers, excluding the farms.

The Sugar Regulatory Authority (SRA) has already certified the project. The certification was necessary to ensure that the proposed plantation site is not used for food. Canlaon, at present, has a growing agreement with the farmers of Bago, which covers 2,300 hectares of land capable of producing 161,000 metric tons of raw sugar cane per year.

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Vacation in Puerto Pollensa

Roy — Sun, 13 Mar 2011 14:46:40 +0000

I got an invitation from a friend to go on a vacation to Mallorca. He told me that he already got reservations for villas in Puerto Pollensa and that we will be leaving in two days. And I said, “Where?!” Honestly, this is the first time for me to hear about Mallorca and Puerta Pollensa, and they do not sound like you can get there via land route from where we are now.

So I searched for it on the net, and I was surprised that it is in Spain. I have never been there, and I really do not think that my friend have been there before too. And when I asked him what’s up, and what’s with this trip to Mallorca.

But instead of answering me, he told about the beautiful villas in Pollensa and he showed the pictures on the brochures that he received from the mail. And through the course of our discussion, I learned that he will be meeting a person there for a possible joint venture project.

It figures. My entrepreneur would never travel far just for leisure. I knew there was more to the trip just than a vacation. He just does not want to tell me that it’s work because I might not go with him. Anyway, it is an all-expense paid trip. I am not complaining.

I guess, I should just be supporting my friend in his planned joint venture with his prospective partner. He did not tell me though whether the joint venture project will be there in Mallorca or it will be for a project here in the Philippines.

Anyway, I am sure my entrepreneur friend will not make me stay long there because I need to work here. Besides, the longer he tagged me along, the more expenses he will incur.

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Sta. Ana racetrack to get a make-over

Roy — Sat, 26 Feb 2011 14:50:49 +0000

The Sta. Ana Racetrack in Barangay Carmona, Makati is about to get a facelift, as its operator Philippine Racing Club, Inc. (PRCI) and property giant Ayala Land Inc. (ALI) recently signed a joint-venture agreement that would the 21-hectare racetrack into a mixed-use complex. The deal was stated by both companies in their separate disclosure to the Philippine Stock Exchange.

The joint venture was said to entail “big figures” in investments as it would be a large-scale project that will turn the former horse racetrack into a township development with recreational, entertainment, commercial, retail, office, residential and even hotel facilities.

PRCI will be bringing into the joint venture its entire 21-hectar property, the former site of its horse-racing operations until 2008. The company will then be sharing in the revenue to be generated by venture, which will come from sales of residential units as well as from leasing out of office and commercial spaces.

The PRCI board has already approved the execution and delivery of the master development agreement with ALI and Alveo Land Corp., which will be presented for approval of its shareholders in their on April 26. PRCI president Solomon Cua said that their land is the last big piece of property in Makati and they have chosen the right partner for its redevelopment.

For its party, property firm ALI said in its disclosure to PSE that the deal is still subject to the fulfillment of certain closing conditions. “The project is intended as a mixed-use development and will form part of the company’s ongoing developments in the city of Makati,” the ALI disclosure stated.

ALI is the main developer of the Makati central business district and Fort Bonifacio Global City. The company also teamed up with Manila Jockey Club to gain access to a part of the latter’s former San Lazaro racetrack area in Sta. Cruz, Manila, six years ago.

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Ayala Land won right to redevelop UP property

Roy — Tue, 15 Feb 2011 07:57:15 +0000

The 7.4-hectare site of the UP Integrated School in Diliman, Quezon City will be redeveloped into a P3 billion mixed-use complex by the Ayala Land Inc. (ALI). The University of the Philippines had awarded to ALI, after winning in a public bidding, a 25-year lease, renewable for another 25 years.

ALI will construct in the said area, a retail establishment of 63,000 square meters of gross leasable area and a combination of headquarters-and-business process outsourcing-type building with an estimated 8,000 square meters of space for leasing. The property giant was said to start the construction this year and the target date of completion would be fourth quarter of 2013.

The Ayala Land won in a public bidding conducted by UP last November for the relocation and building of a new UPIS within the main campus, as well as the redevelopment of the current UPIS site on Katipunan Ave. into a mixed-use facility by way of lease. ALI committed a P3-billion capital outlay including the cost of the UPIS relocation.

Antonio Aquino, ALI president, said the new development would be similar to the existing UP-Ayala Land Technohub, only with a larger component.

“The company envision the project as a University Town concept consisting of mixed-use retail and office components, with firm emphasis on academic support facilities,” ALI said in its disclosure to the Philippine Stock Exchange (PSE), “This will be the first of its kind in the country to reflect a strong collaboration between academe and industry.” The company also said that it saw the project as a good opportunity to use the site to service the needs of students, office workers and residents in the immediate vicinity.

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Interim management

Roy — Wed, 01 Dec 2010 16:13:49 +0000

We all know of headhunting, not the literal headhunting, but manpower outsourcing. Wherein vacant positions in the rank and file were filled by sourcing out personnel from recruitment agencies. Sometimes they are permanent, and other times they are only needed for a certain period of time or just for a special project.

But have you heard or interim management? While manpower outsourcing or pooling of personnel from agencies may also include managerial positions, sometimes, there is a need to fill up a function, or someone to perform a very delicate task in the managerial level, and there is enough time to go through all the recruitment process – scanning of resume, testing, interviewing, training, etc.

That is where providers of interim management come in. Companies with such services provide management resources and skills for short-term performance of a proven heavyweight interim executive manager. Interim management is usually being implemented when there is a transition because of a change of management or business owners, there is an internal crisis, or a major change within the organization.

Situations mentioned above does not really allow enough time to hire the necessary management positions, and/or there are no qualified individuals within the organization to perform the function, as well as implement the necessary changes.

And since the position being filled up is a very delicate, as such would shape the future of the business, it is a must that extreme caution be exercised when acquiring interim management services. The organization should have enough discernment to understand which company would work best for their business.

If you find yourself needing such services, be sure to scout around. Research about the company which would provide such service. Get feedbacks from their previous clients, and also from friends who might even give better referrals for sourcing interim management resources.

Good luck!

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The new project of TERADATA Corp.

PinoyBusiness — Wed, 22 Sep 2010 19:31:53 +0000

Since 2008 the etradata Corp. started to operate in the philippines. And since then they gained countless of customers and some of the known personalities in the field of
business.

Now they are planning to have a new project and the analytics said that Teradata Corp. is planning to expand their business operations and will build the Teradata Global Consulting Center. In the near future they say this will be operational in the first half of 2011 and will be located in Fort Bonifacio Taguig area.

they have choosen the philippines out of many because of many filipino nowadays has a great and efficient english communicating skills and business skills that can help their company.

This project will help the customers to have the data warehouse and the business intelligence more efficient because it will help them on their decisions. This project will also allow teradata to know what demands are growing on data warehousing around the globe.

The local economy will surely have an great impact out of this because of its capital investment and jobs that will be available. They now start to hire a ETL Consultants/Leads, DBA Consultants/Leads, BI Consultants/Leads and Consulting Center Director.

This one will be good news in the business society

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San Miguel to put the country’s first underwater hotel

Roy — Sat, 07 Aug 2010 14:11:05 +0000

The real estate subsidiary of conglomerate San Miguel Corp. (SM) is planning to launch soon, the country’s first “underwater hotel.” The said project is part of the four new developments of San Miguel Properties Inc. (SMP) which will start next year, as the company’s foray into the tourism segment begins.

Alan Cruz, head of the SMP real estate development, said the four projects are, a “spiritual” hub in a 125-hectare property in Alfonso, Cavite; a midrise condominium cluster in a 2.8-hectare property along Outlook Drive in Baguio City; a 25-hectare mixed-use beachfront development on Boracay Island; and an ambitious underwater hotel off Busuanga Island near Coron Island in Northern Palawan.

Cruz said that all the project would happen next year as far as their implementation is concern, while the planning stages will all happen this year.”We are going to entertain the experts in the industry, in terms of operating a hotel or maybe a country club. That is applicable for Boracay and, to a certain extent, in the Cavite project,” he added.

In the recently concluded Philippine Real Estate Fair, SMP “rebranded and relaunched” itself in its bid to become a major property developer in the next five years. The company plans to launch its Cavite project first, from which a 33-hectare parcel of land was donated to the healing ministry of Companion of the Cross priest Fernando Suarez. The said property may house venues for weddings, baptisms, retreat houses, as well as a 100-meter tall statue of the Virgin Mary. In order to sustain the spiritual component of the project, SMP is planning to build residential and commercial projects in the area.

The company also stated earlier that it is spending P6 billion to develop a high-rise residential project in Makati City and an American-inspired gated community in General Trias, Cavite. Existing projects of the firm include Maravilla, Bel Aldea in General Trias, The Legacy in Las Piñas City and Buenavista Homes in Cebu.

SMP finance and administration head Gil Somblingo said in an earlier interview that they are expecting to generate P1 billion in sales this year.

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Aquino appoints investment banker as finance undersecretary

Roy — Sun, 18 Jul 2010 00:14:01 +0000

Investment banker Philip Sevilla has been appointed by President Aquino as Finance undersecretary for Privatization and the Corporate Affairs Group, as confirmed by Finance Secretary Cesar Purisima recently. Sevilla will be taking over the portfolio which was previously handled by Crisanta Legaspi. He will be handling the difficult task of helping raise revenues for the government by selling state-owned assets.

Sevilla is really not new to the Finance department as he has already assumed the post of Finance undersecretary for Privatization in 2006. Before his stint at the finance department, Sevilla worked for four years as an investment banker for financial services firm Goldman Sachs.

The administration of Aquino hopes to raise P2 billion from the selling of state-owned assets for the year. These comprise of real estate assets and two big-ticket items, which are the Food Terminal Inc. (FTI) property in Taguig and its real estate property in Fujimi, Japan. The government is hoping to finally sell the FTI property this year. It hopes to get at least P7 billion from the said property and raise roughly P3 billion from the lease and development contract of its real estate property in Fujimi.

According the Purisima, the planned sale of the government’s stake in the Malampaya deep water-to-gas project is not yet included in the P2 billion estimated proceeds this year. They are still waiting for better market conditions before selling its stake in the said project.

The Philippine government is selling state assets to plug a widening budget gap that is projected to hit P325 billion this year, revised from an earlier target of roughly P300 billion.

Other recent Aquino appointee include former Philippine National Bank (PNB) president and Negros Occidental Governor Daniel ‘Bitay’ Lacson, who will assume office as chairman of the Government Service Insurance System (GSIS), the state-owned pension fund for government employees.

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Microsoft launched new products in the Philippines

Roy — Sun, 13 Jun 2010 06:54:01 +0000

Microsoft launched last week its latest product to its customers in the Philippines – the Microsoft Office 2010 and Microsoft SharePoint 2010, Microsoft Vision 2010 and Microsoft Project 2010.

The software giant expects its new products to significantly benefit Filipino business in terms of productivity and gains and to give them higher returns on their software investments.

Microsoft Asia-Pacific sales and marketing vice president Ken Wye Saw said, “Microsoft Office 2010 and the 2010 set of products offer people the flexibility to work across their PC, phone and browser. As a result, companies can save, innovate and grow. This is what we mean when we say that Office 2010 and SharePoint 2010 are defining the future of productivity.” He pointed out that by giving customers choice and flexibility, Microsoft also allows them to save on costs.

Transnational E-Business Solutions, Inc. (TESI), a full ICT solutions provider, was one of the companies who participated in the testing of the Microsoft Office 2010 and SharePoint 2010 beta programs. TESI president and general manager Renvi Martinez said, “With Office 2010, workflows are more efficient, Web applications make your work available anywhere, collaboration is much easier”

Another company, BDO Capital & Investment Corp., also participated in the beta testing. Company president Eduardo Francisco said, “Coming from the finance industry, Microsoft Office Excel 2010 is a reliable tool for my work. Through these new Excel features, I can not only manage huge amounts of data, but also make sense out of the figures easily and quickly, and these enhancements have a huge impact on the efficiency of an organization.”

Femee Cruz, Microsoft Philippines information worker product manager, pointed out, “Even if people are out of the office, they can still work at home, off site, or even while they are on the go or don’t have their PC with them. The new features of Microsoft Office 2010 ensure that people have access to their documents across a range of platforms.”

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Seaweed-durian cupcake, a healthy ‘baon’ for school

Roy — Sat, 29 May 2010 16:40:22 +0000

A healthier cupcake makes for a great alternative ‘baon’ is the product of the research project by a group of people from the Southern Philippines Agribusiness and Marine and Aquatic School of Technology (SPAMAST) in Digos City, Davao del Norte.

The cupcake made from seaweed and durian, which is just in time for the school opening, was made through the collaborative efforts of Arlyn Omboy, Graciela Caballero, Milagros Subaldo, Dr. Nila Nanette Revilla and Dr. Delia Grace Bacaltos, all from the SPAMAST. The seaweed-durian cupcake was their entry to the 2010 Aquatic Technology Competition and Marketplace (ATCOM), wherein there were one of the finalists.

The contest (ATCOM) was sponsored by the Los Baños-based Department of Science and Technology-Philippine Council for Aquatic and Marine Research and Development (DOST-PCAMRD).

The researchers said that the making of seaweed-durian cupcake follows the usual baking process for bread and pastries. The cupcake, which has a shelf life of five days, is a bakery product made from seaweed powder with processed durian jam, uses as raw material locally available Eucheuma spinosum and durian, an exotic fruit which is described as “smells like hell but tastes like heaven.”

During the research process, the team of researchers conducted a consumers’ feedback evaluation to get the reaction of the market on the seaweed-durian cupcake. Most of the respondents which were from Digos City and neighboring towns rated the cupcake as “most acceptable.”

The seaweed-durian cupcake technology was further improved, and was even extended to various seaweed-growing communities in the Island Garden City of Samal and Puntao Biao, Cogon, Digos City. Thanks to the support of the Davao Industry Cluster Capacity Enhancement Project (DICCEP) sponsored by the Japan International Cooperation Agency (JICA) and Department of Trade and Industry (DTI)-Region 11. Arrangements with the DTI and Department of Education (DepEd) are now being made to make the healthy cupcake available in the different ‘Pasalubong’ centers and school canteens.

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Pacifica bids for Subic and Malaya power plant

Roy — Sun, 16 May 2010 19:21:46 +0000

A listed firm expressed interest to bid for the 116 megawatt Subic diesel-fired power plant project, the sole generating facility at the Subic free port.

In its disclosure to the Philippine Stock Exchange (PSE), Pacifica Inc. which is controlled by port operator Michael Romero said its board has approved the plan to “bid or submit a proposal for the lease, operation and maintenance of the Subic diesel power plant project.”

The board also approved a plan to enter into a consortium agreement with R-II Builders inc. “for purposes of the bidding or submission of the pre-qualification requirements and proposal for the SDPP.”

The power plant is currently being operated by the Subic Bay Metropolitan Authority (SBMA), which was commissioned in 1994 through a build-operate-transfer agreement between state-owned National Power Corporation (Napocor) and Enron Corporation. It was turned over by Napocor to SBMA in March of last year.

The SBMA said in its invitation to bid, “SBMA wishes to lease out on an ‘as is, where is basis,’ the land and the facilities within the Subic Bay Power Plant compound by inviting interested proponents to pre-qualify for the project.” It did not, however, state when the bidding will take place but said those who are interested should submit within the month.

Aside from the Subic power plant, Pacifica also intended to acquire control of the administration of the 650 megawatts of the Malaya thermal power plant. It has already submitted a letter of interest to the Power Assets and Liabilities Management (PSALM) Corp., the government’s privatization arm for the power sector.

Pacifica said its participation in the bid for the Malaya thermal power plant is another significant decision in line with its purpose to “expand business opportunities in power related business.”

Romero, for his part, said the company is joining the Malaya bidding “because of logistical solution Harbour Center could provide.”

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SM Group bought Lucio Tan property

Roy — Sat, 01 May 2010 08:47:19 +0000

The North Belton Communities, a mixed-use township development in Quezon City owned by Lucio Tan’s group, was bought tycoon Henry Sy’s SM Prime Holding, Inc. A memorandum of agreement was recently signed between the Lucio Tan-led Eton Properties Philippines, Inc., Philippine National Bank (PNB) and SM Prime.

The signed MOA involves the sale of a portion of the group’s 13.8-hectare North Belton project. SM Prime bought the property with the intention of constructing a commercial/shopping complex in two years time.

Danilo Ignacio, Eton president said, “Our partnership with SM in North Belton Communities is all part of the master plan to give the best value to our homebuyers. The presence of a mail within the project brings in convenience and adds value to the community and its neighborhood.”

Eton is the main developer of the North Belton Communities through a joint venture agreement with PNB who is the landowner. North Belton is Eton’s first attempt to cater to the middle income segment, marketed under the Belton Communities brand. The project is home to three exclusive residential enclaves: The Manors, West Wing Residences and West Wing Villas that will eventually be home to 1,600 families.

The project is the Eton’s second tie-up with the SM Group. They had their first partnership in 2009 when Eton and SM’s Super Shopping Market Inc. signed an agreement covering Eton’s two-level commercial center, Centris Station, in Quezon City, in which the SM Hypermarket is the anchor tenant.

Aside from its partnership with SM, Eton also signed a memorandum of understanding with Amaia Land Corp. The MOU with the Ayala Group’s subsidiary provides for the development a four-hectare property in Calamba, Laguna, owned by affiliate companies of the Lucio Tan group, with Eton as the development manager, representing the landowners.

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Ayala Land’s new residential project in Makati

Roy — Fri, 30 Apr 2010 22:44:25 +0000

The Ayala Land Corp. is earmarking P3 billion to funds its new development project in the Makati central business district (MCBD) North, The Lerato. The new project consists of three tower residential development and retail area.

Alveo Land President Dante M. Abando said during their pre-selling and launching that they have already sold 115 of the 540 residential units of the first tower, which amounted to P500 million in sales. This represents approximately 25 percent of the entire inventory o f the first tower.

Expected to be finished by the fourth quarter of 2015, the first tower is composed of 420 studio units and 120 one bedroom unit. The one bedroom units are priced at P5.5 million and measure 55 square meters. The studio units measure 30 square meters and has average price of P3 million. The revenue for the first tower, when completely sold, is expected to reach P1.65 billion.

For their new project, Abando said they target young urban achievers and small families whose monthly income averages between P100,000 and P120,000 monthly. The early sales they got, he said, were mostly from local buyers.

The entire project, located near the Reposo Area, stands in a 9,800-square meter lot. Strategically located, it is close to commercial, retail and institutional landmarks like the Ayala malls, Ateneo Graduate School and De La Salle Graduate School of Business.

“Simply put, The Lerato is for the new Makati resident. One that sees Makati not just as a corporate arena but appreciates it as a new frontier that combines work and recreation,” Abando said.