![\"\"](\"https://www.bworldonline.com/wp-content/uploads/2024/01/pseiactives010424-scaled.jpg\")
\n
MANILA Electric Co. (Meralco) has started seeking bidders for 660 megawatts (MW) of capacity as it expects power demand to increase in the summer months.
\nIn a statement on Thursday, the power distributor said the capacities up for bidding will cover its 260-MW peaking requirement and 400-MW baseload requirement this year.
\nMeralco\u2019s share price rose by 0.76% or P3 to close at P397 each.
\nThe Department of Energy has issued a certificate of conformity for the interim power supply deals.
\nMeralco said the competitive selection process \u201cconsiders the need for additional available capacities to augment supply to customers.\u201d
\nUnder the setup, distribution utilities must choose the cheapest electricity supply through bidding. Bidders have until Jan. 15 to submit expressions of interest.
\nA pre-bid conference will be held on Jan. 22, while the deadline to submit bids for the 260-MW and 400-MW capacities was set for Feb. 26 and 27, respectively.
\nLast year, Meralco started seeking bidders for 1,800-MW and 1,200-MW baseload capacities.\u00a0 The 1,800-MW competitive selection process aims to find new suppliers for electricity that was supposed to be supplied by the two units of San Miguel Power Global Holdings Corp. \u2014 Excellent Energy Resources, Inc. and Masinloc Power Partners Co. Ltd.
\nTheir contracts with Meralco were terminated in March after their power supply agreement\u00a0 application went past the deadline.
\nExcellent Energy and Masinloc Power were supposed to start delivering electricity by 2024 and 2025 after securing the supply contracts in 2021.
\nSix entities expressed interest in the bidding for the 1,800-MW capacity \u2014 GNPower Dinginin Ltd. Co., First NatGas Power Corp., SP New Energy Corp., Mariveles Power Generation Corp., Excellent Energy, and Masinloc Power.
\nMeanwhile, the 1,200-MW capacity is meant to replace the terminated power supply deals with South Premiere Power Corp., Solar Philippines Batangas Baseload Corp., and Sual Power, Inc., used to be called San Miguel Energy Corp.
\nThe bid deadline for the 1,800-MW capacity was on Dec. 26, and Jan. 23 for the 1,200-MW supply.
\nMeralco\u2019s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. \u2014 Sheldeen Joy Talavera
\n", "content_text": "MANILA Electric Co. (Meralco) has started seeking bidders for 660 megawatts (MW) of capacity as it expects power demand to increase in the summer months. \nIn a statement on Thursday, the power distributor said the capacities up for bidding will cover its 260-MW peaking requirement and 400-MW baseload requirement this year.\nMeralco\u2019s share price rose by 0.76% or P3 to close at P397 each.\nThe Department of Energy has issued a certificate of conformity for the interim power supply deals. \nMeralco said the competitive selection process \u201cconsiders the need for additional available capacities to augment supply to customers.\u201d\nUnder the setup, distribution utilities must choose the cheapest electricity supply through bidding. Bidders have until Jan. 15 to submit expressions of interest. \nA pre-bid conference will be held on Jan. 22, while the deadline to submit bids for the 260-MW and 400-MW capacities was set for Feb. 26 and 27, respectively. \nLast year, Meralco started seeking bidders for 1,800-MW and 1,200-MW baseload capacities.\u00a0 The 1,800-MW competitive selection process aims to find new suppliers for electricity that was supposed to be supplied by the two units of San Miguel Power Global Holdings Corp. \u2014 Excellent Energy Resources, Inc. and Masinloc Power Partners Co. Ltd. \nTheir contracts with Meralco were terminated in March after their power supply agreement\u00a0 application went past the deadline.\nExcellent Energy and Masinloc Power were supposed to start delivering electricity by 2024 and 2025 after securing the supply contracts in 2021. \nSix entities expressed interest in the bidding for the 1,800-MW capacity \u2014 GNPower Dinginin Ltd. Co., First NatGas Power Corp., SP New Energy Corp., Mariveles Power Generation Corp., Excellent Energy, and Masinloc Power. \nMeanwhile, the 1,200-MW capacity is meant to replace the terminated power supply deals with South Premiere Power Corp., Solar Philippines Batangas Baseload Corp., and Sual Power, Inc., used to be called San Miguel Energy Corp. \nThe bid deadline for the 1,800-MW capacity was on Dec. 26, and Jan. 23 for the 1,200-MW supply.\nMeralco\u2019s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. \u2014 Sheldeen Joy Talavera", "date_published": "2024-01-05T00:10:17+08:00", "date_modified": "2024-01-04T21:12:06+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2023/05/electricy-tower-pylons-.jpg", "tags": [ "Sheldeen Joy Talavera", "Corporate", "Editors' Picks" ] }, { "id": "https://www.bworldonline.com/?p=567032", "url": "https://www.bworldonline.com/corporate/2024/01/05/567032/a-brown-unit-to-start-p700-m-e-beam-facility-in-march/", "title": "A Brown unit to start P700-M e-beam facility in March", "content_html": "A UNIT of listed A Brown Co. is expected to finish the construction of the country\u2019s first electron beam (e-beam) cold storage facility in Tanay, Rizal in March.\u00a0 \u00a0
\nIn a statement on Thursday, the company said unit Irradiation Solutions, Inc. would start commercial operations in March with the launch of the P700-million e-beam cold storage facility.
\nThe facility is in the equipment installation and commission phase. Once completed, it has the capacity to decontaminate and sterilize 20,000 tons of food products and medical devices annually.\u00a0 \u00a0
\nE-beam technology offers a cost-effective and safe method for treating goods, according to A Brown.
\n\u201cE-beam technology is recognized for its environmental friendliness, leaving no chemical residues, and is scientifically proven effective in decontaminating food and sterilizing medical equipment,\u201d it said.
\n\u201cThe technology ensures high product throughput and stands as a sustainable alternative to traditional heat and chemical treatments,\u201d it added.
\nThe construction of the facility is in line with Irradiation Solutions\u2019 vision of becoming a cornerstone for the Philippine economy, A Brown said. \u201cIt is designed to enhance the operations of local businesses and ensure product compliance with international export requirements.\u201d
\nIrradiation Solutions President Paul B. Juat remains optimistic despite delays in the facility\u2019s completion due to weather and supply chain disruptions, it said.
\nThe facility started construction in April 2022, with commercial operations initially expected to begin by the third quarter of last year.\u00a0 \u00a0
\n\u201cOur team\u2019s resilience has kept us on track,\u201d Mr. Juat said. \u201cWe are confident that the completion of this project will significantly improve the Philippines\u2019 export capabilities. This is significant for the Philippine fruit and fisheries sector, which faces challenges in adhering to stringent international standards of product quality and safety.\u201d
\nA Brown Chairman Walter Brown said the facility would empower local businesses and help them tap foreign markets.\u00a0 \u00a0
\n\u201cWe\u2019re looking forward to the operational phase of our facility,\u201d he said. \u201cOur goal is to empower local businesses, helping them reach international markets more effectively. This facility is not just an investment in technology; it\u2019s an investment in the Philippine economy and its people.\u201d
\nShares of A Brown, a real estate company with mixed-use, nature-themed developments in Mindanao and Luzon, gained 4.62% or three centavos to 68 centavos each. \u2014 Revin Mikhael D. Ochave
\n", "content_text": "A UNIT of listed A Brown Co. is expected to finish the construction of the country\u2019s first electron beam (e-beam) cold storage facility in Tanay, Rizal in March.\u00a0 \u00a0\nIn a statement on Thursday, the company said unit Irradiation Solutions, Inc. would start commercial operations in March with the launch of the P700-million e-beam cold storage facility.\nThe facility is in the equipment installation and commission phase. Once completed, it has the capacity to decontaminate and sterilize 20,000 tons of food products and medical devices annually.\u00a0 \u00a0\nE-beam technology offers a cost-effective and safe method for treating goods, according to A Brown.\n\u201cE-beam technology is recognized for its environmental friendliness, leaving no chemical residues, and is scientifically proven effective in decontaminating food and sterilizing medical equipment,\u201d it said. \n\u201cThe technology ensures high product throughput and stands as a sustainable alternative to traditional heat and chemical treatments,\u201d it added.\nThe construction of the facility is in line with Irradiation Solutions\u2019 vision of becoming a cornerstone for the Philippine economy, A Brown said. \u201cIt is designed to enhance the operations of local businesses and ensure product compliance with international export requirements.\u201d \nIrradiation Solutions President Paul B. Juat remains optimistic despite delays in the facility\u2019s completion due to weather and supply chain disruptions, it said. \nThe facility started construction in April 2022, with commercial operations initially expected to begin by the third quarter of last year.\u00a0 \u00a0\n\u201cOur team\u2019s resilience has kept us on track,\u201d Mr. Juat said. \u201cWe are confident that the completion of this project will significantly improve the Philippines\u2019 export capabilities. This is significant for the Philippine fruit and fisheries sector, which faces challenges in adhering to stringent international standards of product quality and safety.\u201d\nA Brown Chairman Walter Brown said the facility would empower local businesses and help them tap foreign markets.\u00a0 \u00a0\n\u201cWe\u2019re looking forward to the operational phase of our facility,\u201d he said. \u201cOur goal is to empower local businesses, helping them reach international markets more effectively. This facility is not just an investment in technology; it\u2019s an investment in the Philippine economy and its people.\u201d \nShares of A Brown, a real estate company with mixed-use, nature-themed developments in Mindanao and Luzon, gained 4.62% or three centavos to 68 centavos each. \u2014 Revin Mikhael D. Ochave", "date_published": "2024-01-05T00:09:38+08:00", "date_modified": "2024-01-04T21:11:38+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2023/02/A-BROWN-COMPANY-LOGO.jpg", "tags": [ "Revin Mikhael D. Ochave", "Corporate", "Editors' Picks" ] }, { "id": "https://www.bworldonline.com/?p=567031", "url": "https://www.bworldonline.com/corporate/2024/01/05/567031/sec-warns-public-vs-investing-in-okpb-and-goldia/", "title": "SEC warns public vs investing in OKPB and Goldia", "content_html": "THE Securities and Exchange Commission (SEC) has warned the public against investing in two entities that it said are not authorized to issue and sell securities in the Philippines.
\nIn separate advisories posted on its website, the corporate regulator flagged One 1Key Progress Booster, Inc. (OKPB) and Goldia by Shine, which are both registered with the commission.\u00a0 \u00a0
\nThe certificates of registration of the two entities only grant juridical personality but do not empower them to sell securities without an approved registration statement, the SEC said.
\nIt added that people or groups claiming to represent Power Apps under the registration of OKPB were urging the public to invest by paying a P1,000 membership fee.\u00a0 \u00a0
\n\u201cOnce registered, the member becomes part of the second business of OKPB which they refer to as \u2018quest,\u2019 whereby an investment of P5,000 will guarantee a return of 50% in just 15 days,\u201d it said. \u201cThere is no proof of the invested money. However, the names are written on the logbook with the corresponding amount invested.\u201d
\nThe SEC said OKPB uses a scheme where investors could also invest P100,000 and earn 300% to 400% interest after five to 10 days.\u00a0 \u00a0
\n\u201cInvestors were advised that the operation will only last until the end of this year, but assured the members that their shares will be transferred to a new company and that it will still earn but not as much as 50% of the investment made,\u201d the regulator said.
\n\u201cAllegedly, this is to get away from paying big taxes to the Bureau of Internal Revenue,\u201d it added.
\nMeanwhile, the SEC said Goldia by Shine, which is under the registered license of Fujesan Distribution Corp., claims to be selling jewelry from Hong Kong and Bangkok at low prices.\u00a0 \u00a0
\nThe entity allegedly offers compensation plans with investments ranging from P20,000 to P300,000 with a promise of return of 5-8% monthly interest. \u00a0 \u00a0
\n\u201cThe public is made aware that an investment contract, which is a kind of security, exists when there is an investment or placement of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others, which is prominent in the scheme of Goldia by Shine,\u201d the SEC said. \u2014 Revin Mikhael D. Ochave
\n", "content_text": "THE Securities and Exchange Commission (SEC) has warned the public against investing in two entities that it said are not authorized to issue and sell securities in the Philippines.\nIn separate advisories posted on its website, the corporate regulator flagged One 1Key Progress Booster, Inc. (OKPB) and Goldia by Shine, which are both registered with the commission.\u00a0 \u00a0\nThe certificates of registration of the two entities only grant juridical personality but do not empower them to sell securities without an approved registration statement, the SEC said.\nIt added that people or groups claiming to represent Power Apps under the registration of OKPB were urging the public to invest by paying a P1,000 membership fee.\u00a0 \u00a0\n\u201cOnce registered, the member becomes part of the second business of OKPB which they refer to as \u2018quest,\u2019 whereby an investment of P5,000 will guarantee a return of 50% in just 15 days,\u201d it said. \u201cThere is no proof of the invested money. However, the names are written on the logbook with the corresponding amount invested.\u201d\nThe SEC said OKPB uses a scheme where investors could also invest P100,000 and earn 300% to 400% interest after five to 10 days.\u00a0 \u00a0\n\u201cInvestors were advised that the operation will only last until the end of this year, but assured the members that their shares will be transferred to a new company and that it will still earn but not as much as 50% of the investment made,\u201d the regulator said. \n\u201cAllegedly, this is to get away from paying big taxes to the Bureau of Internal Revenue,\u201d it added. \nMeanwhile, the SEC said Goldia by Shine, which is under the registered license of Fujesan Distribution Corp., claims to be selling jewelry from Hong Kong and Bangkok at low prices.\u00a0 \u00a0\nThe entity allegedly offers compensation plans with investments ranging from P20,000 to P300,000 with a promise of return of 5-8% monthly interest. \u00a0 \u00a0\n\u201cThe public is made aware that an investment contract, which is a kind of security, exists when there is an investment or placement of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others, which is prominent in the scheme of Goldia by Shine,\u201d the SEC said. \u2014 Revin Mikhael D. Ochave", "date_published": "2024-01-05T00:08:38+08:00", "date_modified": "2024-01-04T21:19:28+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2023/03/SEC-HEADQUARTERS.jpg", "tags": [ "Revin Mikhael D. Ochave", "Corporate", "Editors' Picks" ] }, { "id": "https://www.bworldonline.com/?p=567030", "url": "https://www.bworldonline.com/corporate/2024/01/05/567030/perfetti-van-melle-inks-partnership-with-pcx-to-exceed-plastic-goals/", "title": "Perfetti Van Melle inks partnership with PCX to exceed plastic goals", "content_html": "CONFECTIONERY maker Perfetti Van Melle Philippines has partnered with PCX Markets for an initiative that seeks to exceed the required plastic reduction goals of large companies under the Extended Producer Responsibility Act.
\nPerfetti Van Melle Philippines Managing Director David Roos on Thursday said the company, which produces brands like Mentos, Chupa Chups, and Fruit-tella, is on track to hit 50% more than the required target under the law.
\n\u201cWe want to continue exceeding these targets in the coming years,\u201d he said in a statement.
\nUnder the law, big companies must recover or divert at least 20% of their plastic packaging footprint by end-2023, 40% by 2024 and increasing by 10% yearly until at least 80% is recovered by 2028.\u00a0 \u00a0
\n\u201cAt Perfetti Van Melle Philippines, we believe that small moments and actions, when added up, can create a big, positive impact on people\u2019s lives,\u201d Mr. Roos said. \u201cThis goes beyond the sweet treats we are known and loved for and includes taking action to help tackle large societal challenges like plastic pollution.\u201d
\nPerfetti Van Melle Philippines has a plastic diversion program consisting of community impact, co-processing, recycling, upcycling, and other projects. It also seeks to help build a circular economy through social impact.
\n\u201cTogether with these plastic diversion initiatives, the company is focused on innovating its packaging materials to reduce plastic usage and find proper alternatives, creating even more value for Filipinos and safeguarding a better future,\u201d Mr. Roos said.\u00a0 \u00a0
\nPCX Markets is a global marketplace for audited and traceable plastic waste recovery and responsible processing.
\nIt activates an ecosystem of partners who collect, transport and responsibly process plastic waste, tracked and verified through the power of blockchain technology, while supporting communities on the ground with programs that improve livelihoods and scale up social impact.
\nPCX is working to clean up 80 years\u2019 worth of plastic waste, according to its website. \u201cWe encourage the elimination of unnecessary plastic and enable responsible production and waste management for any plastic that remains, so that it doesn\u2019t wind up in nature.\u201d \u2014 Revin Mikhael D. Ochave
\n", "content_text": "CONFECTIONERY maker Perfetti Van Melle Philippines has partnered with PCX Markets for an initiative that seeks to exceed the required plastic reduction goals of large companies under the Extended Producer Responsibility Act. \nPerfetti Van Melle Philippines Managing Director David Roos on Thursday said the company, which produces brands like Mentos, Chupa Chups, and Fruit-tella, is on track to hit 50% more than the required target under the law.\n\u201cWe want to continue exceeding these targets in the coming years,\u201d he said in a statement.\nUnder the law, big companies must recover or divert at least 20% of their plastic packaging footprint by end-2023, 40% by 2024 and increasing by 10% yearly until at least 80% is recovered by 2028.\u00a0 \u00a0\n\u201cAt Perfetti Van Melle Philippines, we believe that small moments and actions, when added up, can create a big, positive impact on people\u2019s lives,\u201d Mr. Roos said. \u201cThis goes beyond the sweet treats we are known and loved for and includes taking action to help tackle large societal challenges like plastic pollution.\u201d \nPerfetti Van Melle Philippines has a plastic diversion program consisting of community impact, co-processing, recycling, upcycling, and other projects. It also seeks to help build a circular economy through social impact.\n\u201cTogether with these plastic diversion initiatives, the company is focused on innovating its packaging materials to reduce plastic usage and find proper alternatives, creating even more value for Filipinos and safeguarding a better future,\u201d Mr. Roos said.\u00a0 \u00a0\nPCX Markets is a global marketplace for audited and traceable plastic waste recovery and responsible processing. \nIt activates an ecosystem of partners who collect, transport and responsibly process plastic waste, tracked and verified through the power of blockchain technology, while supporting communities on the ground with programs that improve livelihoods and scale up social impact. \nPCX is working to clean up 80 years\u2019 worth of plastic waste, according to its website. \u201cWe encourage the elimination of unnecessary plastic and enable responsible production and waste management for any plastic that remains, so that it doesn\u2019t wind up in nature.\u201d \u2014 Revin Mikhael D. Ochave", "date_published": "2024-01-05T00:07:37+08:00", "date_modified": "2024-01-04T21:10:51+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2024/01/Chupa-Chups.jpg", "tags": [ "Revin Mikhael D. Ochave", "Corporate" ] }, { "id": "https://www.bworldonline.com/?p=567029", "url": "https://www.bworldonline.com/corporate/2024/01/05/567029/philippine-energy-companies-bullish-eye-2024-demand-surge/", "title": "Philippine energy companies bullish, eye 2024 demand surge", "content_html": "By Sheldeen Joy Talavera, Reporter
\nSOME listed Philippine energy companies are bent on diversifying their energy portfolio amid an expected surge in demand and a pipeline of projects.
\n\u201cWe are currently diversifying our power portfolio by developing several renewable energy facilities, with numerous others in the pipeline,\u201d Antonio Miguel B. Alcantara, deputy chief executive officer at Alsons Power Group, said in a Viber message last week.
\nHe said the company is optimistic for 2024 year with the operation of its 14.5-megawatt (MW) Siguil hydropower plant in Maasim, Sarangani province.
\n\u201cWe are committed to expanding our footprint and diversifying our power portfolio,\u201d Mr. Alcantara said. \u201cThis year signifies a major milestone in our journey as we enter the Visayas market with the groundbreaking of our 95.2-megawatt baseload backup power plant in Ubay, Bohol.\u201d
\nThe project will serve as a dependable source of backup electricity for consumers in Bohol.
\nThe energy company is also working on two additional renewable power facilities \u2014 the 37.8-MW Siayan hydropower project in Zamboanga del Norte and the 42-MW Bago hydropower plant in Negros Occidental.
\nMeanwhile, Emmanuel V. Rubio, president and chief executive officer at Aboitiz Power Corp. (AboitizPower), said the company is confident about this year despite tight market conditions.
\n\u201cAs electricity demand continues to grow, we will strive to generate more megawatt-hours in 2024 through higher plant availability and new capacities, especially as we expect coal prices to decline,\u201d he said.
\nPower consumption is projected to increase by 6.6% this year, requiring 600-700 MW of power reserves, he said.
\n\u201cThis substantial increase in electricity demand underscores the pivotal role of power generation, transmission and distribution companies in meeting this need,\u201d Mr. Rubio said.
\nHe said the expected increase requires significant infrastructure development, including the construction of new power plants and the expansion of the power grid to ensure that electricity reaches demand centers.
\nAboitizPower has allotted P50 billion in capital expenditure this year, mostly for the expansion and construction of its renewable energy (RE) projects.
\nIt targets to energize its 17-MW binary geothermal power project in Tiwi, Albay this year, as well as its 173-megawatt peak (MWp) solar power project in Calatrava, Negros Occidental.
\nIt also expects several projects to come online this year and in 2025, including its 44-MWp solar plant in Armenia, Tarlac; the 85-MWp solar plant in San Manuel, Pangasinan; and the 206-MW wind project in San Isidro, Northern Samar in partnership with Singapore-based Vena Energy and Vivant Energy Corp.
\nThe company has set a target net attributable capacity of 9,200\u2009MW and 50:50 balance between RE and thermal portfolios by the end of the decade.
\nTo date, it has renewable energy projects with a combined capacity of close to 1,000\u2009MW that are in the pipeline.
\nMeanwhile, Manila Electric Co. (Meralco) said it would ensure stable and reliable electricity for its 7.8 million customers.
\n\u201cWe maintain a high level of power reliability because the company has been allocating a substantial amount of capital expenditures every year to ensure service quality,\u201d Meralco spokesman and Vice-President for corporate communications Joe R. Zaldarriaga said in a Viber message. \u201cWe put up new substations and replaced facilities that needed to be upgraded.\u201d
\nThe distribution utility has launched its two competitive selection processes for a total of 3,000 MW. Meralco has just announced it is seeking bidders for 660-MW supply for the summer.
\n\u201cThere will be challenges for sure like the El Ni\u00f1o phenomenon, which we are closely monitoring especially during the summer months,\u201d Mr. Zaldarriaga said.
\nMeralco\u2019s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc.
\nHastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls.
\n", "content_text": "By Sheldeen Joy Talavera, Reporter\nSOME listed Philippine energy companies are bent on diversifying their energy portfolio amid an expected surge in demand and a pipeline of projects.\n\u201cWe are currently diversifying our power portfolio by developing several renewable energy facilities, with numerous others in the pipeline,\u201d Antonio Miguel B. Alcantara, deputy chief executive officer at Alsons Power Group, said in a Viber message last week.\nHe said the company is optimistic for 2024 year with the operation of its 14.5-megawatt (MW) Siguil hydropower plant in Maasim, Sarangani province.\n\u201cWe are committed to expanding our footprint and diversifying our power portfolio,\u201d Mr. Alcantara said. \u201cThis year signifies a major milestone in our journey as we enter the Visayas market with the groundbreaking of our 95.2-megawatt baseload backup power plant in Ubay, Bohol.\u201d\nThe project will serve as a dependable source of backup electricity for consumers in Bohol.\nThe energy company is also working on two additional renewable power facilities \u2014 the 37.8-MW Siayan hydropower project in Zamboanga del Norte and the 42-MW Bago hydropower plant in Negros Occidental.\nMeanwhile, Emmanuel V. Rubio, president and chief executive officer at Aboitiz Power Corp. (AboitizPower), said the company is confident about this year despite tight market conditions.\n\u201cAs electricity demand continues to grow, we will strive to generate more megawatt-hours in 2024 through higher plant availability and new capacities, especially as we expect coal prices to decline,\u201d he said. \nPower consumption is projected to increase by 6.6% this year, requiring 600-700 MW of power reserves, he said. \n\u201cThis substantial increase in electricity demand underscores the pivotal role of power generation, transmission and distribution companies in meeting this need,\u201d Mr. Rubio said. \nHe said the expected increase requires significant infrastructure development, including the construction of new power plants and the expansion of the power grid to ensure that electricity reaches demand centers.\nAboitizPower has allotted P50 billion in capital expenditure this year, mostly for the expansion and construction of its renewable energy (RE) projects.\nIt targets to energize its 17-MW binary geothermal power project in Tiwi, Albay this year, as well as its 173-megawatt peak (MWp) solar power project in Calatrava, Negros Occidental.\nIt also expects several projects to come online this year and in 2025, including its 44-MWp solar plant in Armenia, Tarlac; the 85-MWp solar plant in San Manuel, Pangasinan; and the 206-MW wind project in San Isidro, Northern Samar in partnership with Singapore-based Vena Energy and Vivant Energy Corp. \nThe company has set a target net attributable capacity of 9,200\u2009MW and 50:50 balance between RE and thermal portfolios by the end of the decade.\nTo date, it has renewable energy projects with a combined capacity of close to 1,000\u2009MW that are in the pipeline.\nMeanwhile, Manila Electric Co. (Meralco) said it would ensure stable and reliable electricity for its 7.8 million customers.\n\u201cWe maintain a high level of power reliability because the company has been allocating a substantial amount of capital expenditures every year to ensure service quality,\u201d Meralco spokesman and Vice-President for corporate communications Joe R. Zaldarriaga said in a Viber message. \u201cWe put up new substations and replaced facilities that needed to be upgraded.\u201d\nThe distribution utility has launched its two competitive selection processes for a total of 3,000 MW. Meralco has just announced it is seeking bidders for 660-MW supply for the summer.\n\u201cThere will be challenges for sure like the El Ni\u00f1o phenomenon, which we are closely monitoring especially during the summer months,\u201d Mr. Zaldarriaga said. \nMeralco\u2019s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc. \nHastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls.", "date_published": "2024-01-05T00:06:36+08:00", "date_modified": "2024-01-04T21:10:32+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2021/04/corporate-default.jpg", "tags": [ "Sheldeen Joy Talavera", "Corporate" ], "summary": "SOME listed Philippine energy companies are bent on diversifying their energy portfolio amid an expected surge in demand and a pipeline of projects." }, { "id": "https://www.bworldonline.com/?p=567028", "url": "https://www.bworldonline.com/corporate/2024/01/05/567028/cirtek-gets-peza-nod-to-set-up-e-motorcycle-assembly/", "title": "Cirtek gets PEZA nod to set up e-motorcycle assembly", "content_html": "CIRTEK Holdings Philippines Corp. on Thursday said the Philippine Economic Zone Authority (PEZA) has approved the application of its unit to set up an electric motorcycle assembly.\u00a0
\nIn a stock exchange filing, the company said the PEZA board on Dec. 19 approved unit Cirtek Advanced Technologies and Solutions, Inc.\u2019s (CATSI) application for registration as a domestic market enterprise.\u00a0
\nCirtek shares gained 1.85% or three centavos to close at P1.65 each.
\nCATSI will make and assemble two-wheel and three-wheel electric motorcycles and lithium-ion battery packs, the listed company said. \u201cWith a steadfast commitment to providing affordable and reliable mobility solutions, CATSI is set to transform the landscape of transportation in the region,\u201d it added.
\nCirtek said it is partnering with electric motorcycle and lithium battery manufacturers in China as it aims to bring clean and technology innovation to the electric mobility sector.
\n\u201cThis collaboration brings together the expertise and resources of two industry leaders, guaranteeing that our electric motorcycles meet the highest standards of performance, safety and innovation,\u201d it said.\u00a0
\nThe production of its electric motorcycle and lithium-ion battery pack would start this year, the company said, adding that it expects the growing adoption of electric vehicles in the country.\u00a0
\n\u201cAlthough the Philippines lag behind our neighbors with regard to the adoption of Electric Vehicles, we expect a big turnaround in the industry very soon,\u201d Cirtek said.
\nThe Electric Vehicle Association of the Philippines expects electric vehicles in the country to reach almost seven million by 2030 as the Energy department pushes faster rollout of new units. \u2014 Ashley Erika O. Jose
\n", "content_text": "CIRTEK Holdings Philippines Corp. on Thursday said the Philippine Economic Zone Authority (PEZA) has approved the application of its unit to set up an electric motorcycle assembly.\u00a0\nIn a stock exchange filing, the company said the PEZA board on Dec. 19 approved unit Cirtek Advanced Technologies and Solutions, Inc.\u2019s (CATSI) application for registration as a domestic market enterprise.\u00a0\nCirtek shares gained 1.85% or three centavos to close at P1.65 each. \nCATSI will make and assemble two-wheel and three-wheel electric motorcycles and lithium-ion battery packs, the listed company said. \u201cWith a steadfast commitment to providing affordable and reliable mobility solutions, CATSI is set to transform the landscape of transportation in the region,\u201d it added.\nCirtek said it is partnering with electric motorcycle and lithium battery manufacturers in China as it aims to bring clean and technology innovation to the electric mobility sector.\n\u201cThis collaboration brings together the expertise and resources of two industry leaders, guaranteeing that our electric motorcycles meet the highest standards of performance, safety and innovation,\u201d it said.\u00a0\nThe production of its electric motorcycle and lithium-ion battery pack would start this year, the company said, adding that it expects the growing adoption of electric vehicles in the country.\u00a0\n\u201cAlthough the Philippines lag behind our neighbors with regard to the adoption of Electric Vehicles, we expect a big turnaround in the industry very soon,\u201d Cirtek said.\nThe Electric Vehicle Association of the Philippines expects electric vehicles in the country to reach almost seven million by 2030 as the Energy department pushes faster rollout of new units. \u2014 Ashley Erika O. Jose", "date_published": "2024-01-05T00:05:35+08:00", "date_modified": "2024-01-04T21:10:11+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2023/02/scooter-motorist.jpg", "tags": [ "Ashley Erika O. Jose", "Corporate" ] }, { "id": "https://www.bworldonline.com/?p=567027", "url": "https://www.bworldonline.com/corporate/2024/01/05/567027/zoho-more-philippine-firms-to-use-ai-for-growth/", "title": "Zoho: More Philippine firms to use AI for growth", "content_html": "ZOHO Corp. expects more companies in the Philippines to use artificial intelligence (AI)-powered customer service to streamline their operations.
\n\u201cGenerative AI can be used to streamline customer journeys via automation,\u201d Gibu Mathew, Zoho vice-president for Asia-Pacific, said in a Viber message. \u201cIt can analyze large amounts of customer data, identify patterns and generate insights to improve service quality, identify potential issues and anticipate customer needs.\u201d
\nThe technology company, which is based in India, said Philippine companies could leverage generative AI to drive growth by increasing productivity through task automation and process optimization.\u00a0
\nAI could also be used in so-called hyper-personalization because it could deliver more impactful customer recommendations and purchase history data, allowing businesses to tailor-fit product offerings or services aligned with customers\u2019 preferences, Mr. Mathew said.\u00a0
\nHe said micro, small, and medium enterprises (MSME), start-up firms and other low-tech industries could benefit more from the growing adoption of AI in the Philippines.
\n\u201cWe\u2019re seeing it being applied in low-tech sectors, as well as in a diverse range of business functions, from pre-production to post-production,\u201d Mr. Mathew said.
\n\u201cGenerative AI can also identify patterns and generate insights to improve service quality, identify potential issues and anticipate customer needs as a result. MSMEs become more agile and proactive in the face of risks like customer churn,\u201d he added.
\nUpskilling remains to be the threat in the wider adoption of AI because the lack of basic information and communications technology skills could hinder its growth.
\n\u201cThere are also issues such as data bias, misinformation, intellectual property rights, security concerns, and interpretability,\u201d Mr. Mathew said. \u201cThese challenges pose serious risks to brand reputation, and responsible AI practices are imperative.\u201d \u2014 Ashley Erika O. Jose
\n", "content_text": "ZOHO Corp. expects more companies in the Philippines to use artificial intelligence (AI)-powered customer service to streamline their operations.\n\u201cGenerative AI can be used to streamline customer journeys via automation,\u201d Gibu Mathew, Zoho vice-president for Asia-Pacific, said in a Viber message. \u201cIt can analyze large amounts of customer data, identify patterns and generate insights to improve service quality, identify potential issues and anticipate customer needs.\u201d \nThe technology company, which is based in India, said Philippine companies could leverage generative AI to drive growth by increasing productivity through task automation and process optimization.\u00a0\nAI could also be used in so-called hyper-personalization because it could deliver more impactful customer recommendations and purchase history data, allowing businesses to tailor-fit product offerings or services aligned with customers\u2019 preferences, Mr. Mathew said.\u00a0\nHe said micro, small, and medium enterprises (MSME), start-up firms and other low-tech industries could benefit more from the growing adoption of AI in the Philippines.\n\u201cWe\u2019re seeing it being applied in low-tech sectors, as well as in a diverse range of business functions, from pre-production to post-production,\u201d Mr. Mathew said.\n\u201cGenerative AI can also identify patterns and generate insights to improve service quality, identify potential issues and anticipate customer needs as a result. MSMEs become more agile and proactive in the face of risks like customer churn,\u201d he added.\nUpskilling remains to be the threat in the wider adoption of AI because the lack of basic information and communications technology skills could hinder its growth.\n\u201cThere are also issues such as data bias, misinformation, intellectual property rights, security concerns, and interpretability,\u201d Mr. Mathew said. \u201cThese challenges pose serious risks to brand reputation, and responsible AI practices are imperative.\u201d \u2014 Ashley Erika O. Jose", "date_published": "2024-01-05T00:04:34+08:00", "date_modified": "2024-01-04T21:09:50+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2023/06/artificial-intelligence-4694502_1280-2.jpg", "tags": [ "Ashley Erika O. Jose", "Corporate" ] }, { "id": "https://www.bworldonline.com/?p=567026", "url": "https://www.bworldonline.com/corporate/2024/01/05/567026/on-site-work-to-drive-philippine-office-space-growth-jll/", "title": "On-site work to drive Philippine office space growth \u2014 JLL", "content_html": "THE continued expansion of multinational companies in the Philippines is expected to drive office market growth, JLL Philippines said.
\n\u201cTenants are expanding in the Philippines,\u201d P. Ryan Isip, JLL Philippines head of capital markets, said in an e-mailed reply to question. \u201cSome multinational firms are shifting jobs to the Philippines.\u201d
\nThe property consultant said there is an increasing stock of office spaces locally due to the growing demand for on-site work.
\n\u201cEmployers associate on-site work with major benefits such as social connection and cultural bonds,\u201d Flore Pradere, JLL Global Work Dynamics research director, said. \u201cThey see it as a significant contributor to employee performance.\u201d
\nShe said there is more stock of office spaces locally and demand is on the rise for real estate that helps organizations meet their net zero carbon goals.
\nThe completion of four development projects in the cities of Muntinlupa, Pasig, Quezon, and San Juan contributed to the increase in office stock by 222,000 square meters (sq.m.) in the third quarter of last year, JLL Philippines said in a report.
\nIt added that Taguig and Makati would continue to account for majority of office stock in Metro Manila with a 26% and 20% share.
\n“Most of the anticipated supply by the end of 2026 is coming from Quezon City and Taguig City, which are expected to see large volumes of new stock until the end of 2024,” it said.
\nAs of end-September last year, business process outsourcing firms accounted for most transaction volumes.
\nThe Philippine property market would continue growing mainly due to the expected growth of local construction companies, said Lance U. Soledad, research associate at China Bank Securities Corp.
\n“A strong recovery in the property sector, improving business expansion appetite, as well as further progress in big-ticket infrastructure projects could improve medium-term topline and bottom-line prospects,” he said in an e-mail. \u2014 Ashley Erika O. Jose
\n", "content_text": "THE continued expansion of multinational companies in the Philippines is expected to drive office market growth, JLL Philippines said.\n\u201cTenants are expanding in the Philippines,\u201d P. Ryan Isip, JLL Philippines head of capital markets, said in an e-mailed reply to question. \u201cSome multinational firms are shifting jobs to the Philippines.\u201d\nThe property consultant said there is an increasing stock of office spaces locally due to the growing demand for on-site work.\n\u201cEmployers associate on-site work with major benefits such as social connection and cultural bonds,\u201d Flore Pradere, JLL Global Work Dynamics research director, said. \u201cThey see it as a significant contributor to employee performance.\u201d\nShe said there is more stock of office spaces locally and demand is on the rise for real estate that helps organizations meet their net zero carbon goals.\nThe completion of four development projects in the cities of Muntinlupa, Pasig, Quezon, and San Juan contributed to the increase in office stock by 222,000 square meters (sq.m.) in the third quarter of last year, JLL Philippines said in a report.\nIt added that Taguig and Makati would continue to account for majority of office stock in Metro Manila with a 26% and 20% share.\n“Most of the anticipated supply by the end of 2026 is coming from Quezon City and Taguig City, which are expected to see large volumes of new stock until the end of 2024,” it said.\nAs of end-September last year, business process outsourcing firms accounted for most transaction volumes.\nThe Philippine property market would continue growing mainly due to the expected growth of local construction companies, said Lance U. Soledad, research associate at China Bank Securities Corp.\n“A strong recovery in the property sector, improving business expansion appetite, as well as further progress in big-ticket infrastructure projects could improve medium-term topline and bottom-line prospects,” he said in an e-mail. \u2014 Ashley Erika O. Jose", "date_published": "2024-01-05T00:03:33+08:00", "date_modified": "2024-01-04T21:09:09+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2022/02/job-hoppers.jpg", "tags": [ "Ashley Erika O. Jose", "Corporate" ] }, { "id": "https://www.bworldonline.com/?p=567025", "url": "https://www.bworldonline.com/corporate/2024/01/05/567025/megaworld-breaks-ground-for-palawan-condo-project/", "title": "Megaworld breaks ground for Palawan condo project", "content_html": "TAN-LED Megaworld Corp. broke ground for its first residential condominium project in San Vicente, Palawan.
\nIn a statement on Thursday, the property developer said its 10-storey Oceanfront Premier Residences inside the 462-hectare ecotourism township Paragua Coastown will offer 189 \u201csmart home\u201d units and feature views of Pagdanan Bay.
\nThe property is a minute walk from the beach and the soon-to-rise Savoy Palawan.
\nUnit sizes at Oceanfront Premier Residences would range from studio with balcony (32 square meters), executive studio (up to 42 square meters), executive studio with balcony (up to 38, square meters), one bedroom with balcony (44 square meters), and executive one bedroom with balcony (up to 54 square meters), Megaworld said.
\nThe property will also offer units such as a one-bedroom premier suite with balcony (up to 71 square meters), two-bedroom (64 square meters), two-bedroom with balcony (up to 71 square meters), and two-bedroom premier suite with balcony (up to 105.5 square meters).
\nParagua Coastown will feature residential developments, hotels and resorts, a cultural center, educational facilities, a boutique hotel district, shophouse district and other eco-tourism facilities.
\nShares of Megaworld gained 1.01% or two centavos to P2 each. \u2014 Revin Mikhael D. Ochave
\n", "content_text": "TAN-LED Megaworld Corp. broke ground for its first residential condominium project in San Vicente, Palawan.\nIn a statement on Thursday, the property developer said its 10-storey Oceanfront Premier Residences inside the 462-hectare ecotourism township Paragua Coastown will offer 189 \u201csmart home\u201d units and feature views of Pagdanan Bay.\nThe property is a minute walk from the beach and the soon-to-rise Savoy Palawan.\nUnit sizes at Oceanfront Premier Residences would range from studio with balcony (32 square meters), executive studio (up to 42 square meters), executive studio with balcony (up to 38, square meters), one bedroom with balcony (44 square meters), and executive one bedroom with balcony (up to 54 square meters), Megaworld said.\nThe property will also offer units such as a one-bedroom premier suite with balcony (up to 71 square meters), two-bedroom (64 square meters), two-bedroom with balcony (up to 71 square meters), and two-bedroom premier suite with balcony (up to 105.5 square meters).\nParagua Coastown will feature residential developments, hotels and resorts, a cultural center, educational facilities, a boutique hotel district, shophouse district and other eco-tourism facilities.\nShares of Megaworld gained 1.01% or two centavos to P2 each. \u2014 Revin Mikhael D. Ochave", "date_published": "2024-01-05T00:02:32+08:00", "date_modified": "2024-01-04T21:08:25+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2024/01/Megaworld-Oceanfront-Premier-Residences.jpg", "tags": [ "Revin Mikhael D. Ochave", "Corporate" ] }, { "id": "https://www.bworldonline.com/?p=567024", "url": "https://www.bworldonline.com/corporate/2024/01/05/567024/metro-retail-breaks-ground-for-dalaguete-cebu-branch/", "title": "Metro Retail breaks ground for Dalaguete, Cebu branch", "content_html": "LISTED Metro Retail Stores Group, Inc. said it held groundbreaking ceremonies for a Metro Supermarket branch in Dalaguete town, Cebu as part of its expansion efforts.
\nIn a regulatory filing on Thursday, Metro Retail said the soon-to-rise store in Dalaguete is expected to boost the town\u2019s economic growth, with more job opportunities for the community.
\nThe company and the local government of Dalaguete signed a partnership agreement for the upcoming Metro Supermarket branch.
\n\u201cThe vision of Metro Supermarket goes beyond providing goods and services,\u201d Metro Retail President and Chief Operating Officer Manuel C. Alberto said in the statement. \u201cIt is a commitment to being a responsible corporate citizen, supporting local initiatives, and becoming an integral part of the fabric of our community.\u201d
\nMetro Retail has 64 stores in Luzon and the Visayas consisting of various store formats such as Metro Supermarket, Metro Department Store, Super Metro Hypermarket, and Metro Value Mart.
\nShares of Metro Retail fell by 0.78% or a centavo to P1.27 each at the close of trading. \u2014 Revin Mikhael D. Ochave
\n", "content_text": "LISTED Metro Retail Stores Group, Inc. said it held groundbreaking ceremonies for a Metro Supermarket branch in Dalaguete town, Cebu as part of its expansion efforts.\nIn a regulatory filing on Thursday, Metro Retail said the soon-to-rise store in Dalaguete is expected to boost the town\u2019s economic growth, with more job opportunities for the community.\nThe company and the local government of Dalaguete signed a partnership agreement for the upcoming Metro Supermarket branch.\n\u201cThe vision of Metro Supermarket goes beyond providing goods and services,\u201d Metro Retail President and Chief Operating Officer Manuel C. Alberto said in the statement. \u201cIt is a commitment to being a responsible corporate citizen, supporting local initiatives, and becoming an integral part of the fabric of our community.\u201d\nMetro Retail has 64 stores in Luzon and the Visayas consisting of various store formats such as Metro Supermarket, Metro Department Store, Super Metro Hypermarket, and Metro Value Mart.\nShares of Metro Retail fell by 0.78% or a centavo to P1.27 each at the close of trading. \u2014 Revin Mikhael D. Ochave", "date_published": "2024-01-05T00:01:32+08:00", "date_modified": "2024-01-04T21:08:11+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2024/01/Metro-Retail-Stores-cebu.jpg", "tags": [ "Revin Mikhael D. Ochave", "Corporate" ] }, { "id": "https://www.bworldonline.com/?p=566852", "url": "https://www.bworldonline.com/corporate/2024/01/05/566852/how-psei-member-stocks-performed-january-4-2024/", "title": "How PSEi member stocks performed \u2014 January 4, 2024", "content_html": "Here\u2019s a quick glance at how PSEi stocks fared on Thursday, January 4, 2024.
\n
![\"\"](\"https://www.bworldonline.com/wp-content/uploads/2024/01/psei010424-scaled.jpg\")
By Ashley Erika O. Jose, Reporter
\nAIRLINE companies in the Philippines are expected to sustain their gains this year as airport investments including the rehabilitation of the country\u2019s major gateway drive investor sentiment, analysts said.
\n\u201cIt is a positive sign that major airlines are investing in fleet and network buildup,\u201d Juan Paolo E. Colet, managing director at China Bank Capital Corp., said in a Viber message on Wednesday. \u201cIn addition, airport investments and efficiencies, such as through the privatization and rehabilitation of the Ninoy Aquino International Airport (NAIA), will help create more favorable conditions for the airline industry.\u201d
\nThe Department of Transportation has set the signing of the concession agreement for the rehabilitation, operation and maintenance of NAIA by March after attracting four bidders for the upgrade project.
\nEasing inflation and growing travel demand are also expected to drive the profitability of local airlines this year, Mr. Colet said.
\nThe Philippines recorded 5.45-million international visitors in 2023, surpassing its 4.8-million target, the Tourism department said. This year, the agency is targeting 7.7 million visitors.
\n\u201cAirlines saw a recovery last year given normalizing travel conditions and revenge travel,\u201d Rastine Mackie D. Mercado, research director at China Bank Securities, said in an e-mail. \u201cWe expect continued improvements this year, with the International Air Transport Association expecting Asia-Pacific international passenger volumes to surpass 2019 levels.\u201d
\nThe attributable net income of PAL Holdings, Inc., the listed operator of flag carrier Philippine Airlines (PAL), climbed by 33.3% to P4.28 billion in the third quarter from a year earlier. Consolidated revenue rose by 16.7% to P47.13 billion.
\nIts nine-month attributable net income more than doubled to P15.16 billion.
\nCebu Air, Inc., had P1.28 billion in attributable net income in the third quarter, reversing a net loss of P2.54 billion a year earlier. Revenue rose by 38.5% to P23.34 billion.
\nFor the nine months to September, Cebu Air posted an attributable net income of P5.03 billion, reversing a net loss of P12.05 billion a year ago.
\nAirlines are expected to post modest gains due to the challenging economic environment, Toby Allan C. Arce, head of sales trading at Globalinks Securities and Stocks, Inc. said.
\n\u201cAt the global level, net profitability is anticipated to remain well below the cost of capital in both years,\u201d he said in a Viber message. \u201cWhile the airline industry\u2019s profits in 2024 are expected to show a slight improvement over 2023, the return on invested capital is projected to lag behind the cost of capital in both 2023 and 2024.\u201d
\nAirline revenues are expected to outpace expenses, Mr. Arce said, adding that while operating expenses would increase, profits might rise slowly as further interest rate cuts seem unlikely.
\nMeanwhile, some operational challenges might continue this year, pulling down optimism on the demand side, Mr.\u00a0Mercado said.
\n\u201cSome operational challenges are seen to persist into 2024 as the backlog in aircraft maintenance for some widely used aircraft may weigh on capacity,\u201d he said.
\nCebu Air earlier said it would cut fleet growth this year as engine maker Pratt & Whitney (P&W) inspects A320/321 NEO aircraft engines worldwide after suspected issues.
\nThe company said it expects a number of its aircraft to be affected in 2024, adding that inspections would ensure the safe operation of its P&W-powered fleet.
\n\u201cThe major issues for airlines, as they look to ramp up capacity, have been the supply chain slowdown, delivery delays and engine problems that have caused aircraft to be grounded,\u201d Mr. Arce said.
\n", "content_text": "By Ashley Erika O. Jose, Reporter\nAIRLINE companies in the Philippines are expected to sustain their gains this year as airport investments including the rehabilitation of the country\u2019s major gateway drive investor sentiment, analysts said.\n\u201cIt is a positive sign that major airlines are investing in fleet and network buildup,\u201d Juan Paolo E. Colet, managing director at China Bank Capital Corp., said in a Viber message on Wednesday. \u201cIn addition, airport investments and efficiencies, such as through the privatization and rehabilitation of the Ninoy Aquino International Airport (NAIA), will help create more favorable conditions for the airline industry.\u201d\nThe Department of Transportation has set the signing of the concession agreement for the rehabilitation, operation and maintenance of NAIA by March after attracting four bidders for the upgrade project.\nEasing inflation and growing travel demand are also expected to drive the profitability of local airlines this year, Mr. Colet said.\nThe Philippines recorded 5.45-million international visitors in 2023, surpassing its 4.8-million target, the Tourism department said. This year, the agency is targeting 7.7 million visitors. \n\u201cAirlines saw a recovery last year given normalizing travel conditions and revenge travel,\u201d Rastine Mackie D. Mercado, research director at China Bank Securities, said in an e-mail. \u201cWe expect continued improvements this year, with the International Air Transport Association expecting Asia-Pacific international passenger volumes to surpass 2019 levels.\u201d\nThe attributable net income of PAL Holdings, Inc., the listed operator of flag carrier Philippine Airlines (PAL), climbed by 33.3% to P4.28 billion in the third quarter from a year earlier. Consolidated revenue rose by 16.7% to P47.13 billion.\nIts nine-month attributable net income more than doubled to P15.16 billion.\nCebu Air, Inc., had P1.28 billion in attributable net income in the third quarter, reversing a net loss of P2.54 billion a year earlier. Revenue rose by 38.5% to P23.34 billion.\nFor the nine months to September, Cebu Air posted an attributable net income of P5.03 billion, reversing a net loss of P12.05 billion a year ago.\nAirlines are expected to post modest gains due to the challenging economic environment, Toby Allan C. Arce, head of sales trading at Globalinks Securities and Stocks, Inc. said.\n\u201cAt the global level, net profitability is anticipated to remain well below the cost of capital in both years,\u201d he said in a Viber message. \u201cWhile the airline industry\u2019s profits in 2024 are expected to show a slight improvement over 2023, the return on invested capital is projected to lag behind the cost of capital in both 2023 and 2024.\u201d\nAirline revenues are expected to outpace expenses, Mr. Arce said, adding that while operating expenses would increase, profits might rise slowly as further interest rate cuts seem unlikely.\nMeanwhile, some operational challenges might continue this year, pulling down optimism on the demand side, Mr.\u00a0Mercado said. \n\u201cSome operational challenges are seen to persist into 2024 as the backlog in aircraft maintenance for some widely used aircraft may weigh on capacity,\u201d he said.\nCebu Air earlier said it would cut fleet growth this year as engine maker Pratt & Whitney (P&W) inspects A320/321 NEO aircraft engines worldwide after suspected issues.\nThe company said it expects a number of its aircraft to be affected in 2024, adding that inspections would ensure the safe operation of its P&W-powered fleet.\n\u201cThe major issues for airlines, as they look to ramp up capacity, have been the supply chain slowdown, delivery delays and engine problems that have caused aircraft to be grounded,\u201d Mr. Arce said.", "date_published": "2024-01-04T00:06:45+08:00", "date_modified": "2024-01-03T20:48:49+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2022/12/OFWs-airport.jpg", "tags": [ "Ashley Erika O. Jose", "Corporate", "Editors' Picks" ], "summary": "AIRLINE companies in the Philippines are expected to sustain their gains this year as airport investments including the rehabilitation of the country\u2019s major gateway drive investor sentiment, analysts said." }, { "id": "https://www.bworldonline.com/?p=566776", "url": "https://www.bworldonline.com/corporate/2024/01/04/566776/maynilad-to-build-p2-8-b-reservoirs-in-3-cities/", "title": "Maynilad to build P2.8-B reservoirs in 3 cities", "content_html": "By Sheldeen Joy Talavera, Reporter
\nMAYNILAD Water Services, Inc. on Wednesday said it would build four reservoirs worth P2.8 billion that will add 211 million liters (ML) of water to its storage capacity by 2026.
\nThe four reservoirs will be built in Quezon City, Valenzuela, and Muntinlupa, it said in a statement.
\n\u201cHouseholds in elevated areas are typically affected by low water pressure whenever the demand goes up,\u201d Maynilad Chief Operating Officer Randolph T. Estrellado said. \u201cHaving more reservoirs will help to maintain supply availability despite strong water withdrawals from households in low-lying areas, so we\u2019re building more of these storage facilities in strategic locations.\u201d
\nThe projects form part of Maynilad\u2019s P220-billion service enhancement program for 2023 to 2027.
\nSome Maynilad customers have had to endure low water pressure to no water due to the company\u2019s repair and maintenance activities, including two scheduled shutdowns last year at its Putatan treatment plant in Muntinlupa City.
\nIn January 2023, the Metropolitan Waterworks and Sewerage System ordered Maynilad to rebate P27.48 million to customers in areas served by its Putatan facility.
\nThe company has 37 operational reservoirs that can store 751 ML of treated water supply. This increased from 10 reservoirs with 400 ML storage capacity after it rehabilitated 13 reservoirs and built 14 new ones since 2007.
\n\u201cWith the construction of four new reservoirs until 2026, the company\u2019s total combined water-storage capacity will reach 962 ML,\u201d Maynilad said.
\nMaynilad is seeking a 10-year extension of its concession deal with MWSS to Jan. 21, 2047, to coincide with its 25-year legislative franchise.
\nMaynilad serves Manila, except portions of San Andres and Sta. Ana. It also supplies water in Quezon City, Makati, Caloocan, Pasay, Para\u00f1aque, Las Pi\u00f1as, Muntinlupa, Valenzuela, Navotas, and Malabon.
\nThe utility also supplies water to the cities of Cavite, Bacoor, and Imus, and the towns of Kawit, Noveleta, and Rosario, all in Cavite province.
\nMetro Pacific Investments Corp., which has a majority stake in Maynilad, is one of three Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT Inc.
\nHastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls.
\nMeanwhile, Manila Water Co., Inc. said it had ended a 25-year bulk water supply deal with Pangasinan.
\nIn a stock exchange filing, the east zone concessionaire said unit Manila Water Philippine Ventures, Inc. (MWPV) ended the deal effective Dec. 31 after the province failed to fulfill some conditions, which it did not detail.
\nJeric T. Sevilla, head of Manila Water\u2019s corporate strategic affairs group, and corporate communications head Dittie L. Galang did not immediately reply to separate Viber messages seeking comment.
\nIn January 2022, the parties signed a concession agreement for the project with a capital expenditure of about P8 billion. It was supposed to give Pangasinan 200 million liters per day (MLD) more of water.
\nLast month, Manila Water said unit Cebu Manila Water Development, Inc. had terminated its water supply contract with the Metropolitan Cebu Water District after more than a decade.
\nCebu Manila Water is a joint venture of Manila Water Consortium, Inc., which is owned by MWPV, and the provincial government of Cebu.
\nThe parties entered into a joint investment agreement in 2012 for the development, operation and maintenance of a bulk water system that will supply at least 35 MLD of potable water.
\nShares of Manila Water gained 1.97% or 36 centavos to close at P18.64 each.
\n", "content_text": "By Sheldeen Joy Talavera, Reporter\nMAYNILAD Water Services, Inc. on Wednesday said it would build four reservoirs worth P2.8 billion that will add 211 million liters (ML) of water to its storage capacity by 2026.\nThe four reservoirs will be built in Quezon City, Valenzuela, and Muntinlupa, it said in a statement.\n\u201cHouseholds in elevated areas are typically affected by low water pressure whenever the demand goes up,\u201d Maynilad Chief Operating Officer Randolph T. Estrellado said. \u201cHaving more reservoirs will help to maintain supply availability despite strong water withdrawals from households in low-lying areas, so we\u2019re building more of these storage facilities in strategic locations.\u201d\nThe projects form part of Maynilad\u2019s P220-billion service enhancement program for 2023 to 2027.\nSome Maynilad customers have had to endure low water pressure to no water due to the company\u2019s repair and maintenance activities, including two scheduled shutdowns last year at its Putatan treatment plant in Muntinlupa City.\nIn January 2023, the Metropolitan Waterworks and Sewerage System ordered Maynilad to rebate P27.48 million to customers in areas served by its Putatan facility.\nThe company has 37 operational reservoirs that can store 751 ML of treated water supply. This increased from 10 reservoirs with 400 ML storage capacity after it rehabilitated 13 reservoirs and built 14 new ones since 2007.\n\u201cWith the construction of four new reservoirs until 2026, the company\u2019s total combined water-storage capacity will reach 962 ML,\u201d Maynilad said.\nMaynilad is seeking a 10-year extension of its concession deal with MWSS to Jan. 21, 2047, to coincide with its 25-year legislative franchise.\nMaynilad serves Manila, except portions of San Andres and Sta. Ana. It also supplies water in Quezon City, Makati, Caloocan, Pasay, Para\u00f1aque, Las Pi\u00f1as, Muntinlupa, Valenzuela, Navotas, and Malabon.\nThe utility also supplies water to the cities of Cavite, Bacoor, and Imus, and the towns of Kawit, Noveleta, and Rosario, all in Cavite province.\nMetro Pacific Investments Corp., which has a majority stake in Maynilad, is one of three Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT Inc.\nHastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls.\nMeanwhile, Manila Water Co., Inc. said it had ended a 25-year bulk water supply deal with Pangasinan.\nIn a stock exchange filing, the east zone concessionaire said unit Manila Water Philippine Ventures, Inc. (MWPV) ended the deal effective Dec. 31 after the province failed to fulfill some conditions, which it did not detail.\nJeric T. Sevilla, head of Manila Water\u2019s corporate strategic affairs group, and corporate communications head Dittie L. Galang did not immediately reply to separate Viber messages seeking comment.\nIn January 2022, the parties signed a concession agreement for the project with a capital expenditure of about P8 billion. It was supposed to give Pangasinan 200 million liters per day (MLD) more of water.\nLast month, Manila Water said unit Cebu Manila Water Development, Inc. had terminated its water supply contract with the Metropolitan Cebu Water District after more than a decade.\nCebu Manila Water is a joint venture of Manila Water Consortium, Inc., which is owned by MWPV, and the provincial government of Cebu. \nThe parties entered into a joint investment agreement in 2012 for the development, operation and maintenance of a bulk water system that will supply at least 35 MLD of potable water.\nShares of Manila Water gained 1.97% or 36 centavos to close at P18.64 each.", "date_published": "2024-01-04T00:05:45+08:00", "date_modified": "2024-01-03T20:48:32+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2023/04/water-containers.jpg", "tags": [ "Sheldeen Joy Talavera", "Corporate", "Editors' Picks" ], "summary": "MAYNILAD Water Services, Inc. on Wednesday said it would build four reservoirs worth P2.8 billion that will add 211 million liters (ML) of water to its storage capacity by 2026." }, { "id": "https://www.bworldonline.com/?p=566775", "url": "https://www.bworldonline.com/corporate/2024/01/04/566775/axelum-opens-hospital-in-northern-mindanao/", "title": "Axelum opens hospital in Northern Mindanao", "content_html": "LISTED coconut product maker Axelum Resources Corp. has branched out into healthcare by opening its first hospital in Misamis Oriental.
\nThe listed Philippine company launched through civic affiliate AMDG Foundation the 100-bed San Isidro Polymedic General Hospital in Gingoog City, Misamis Oriental, it said in a stock exchange filing on Wednesday.
\nThe medical center offers a suite of services including hemodialysis, emergency room, intensive care, extended laboratory and diagnostics, radiology, surgery, delivery room, neonatal, outpatient clinics, pharmacy and other essential amenities, Axelum said.
\n\u201cAt Axelum, our overarching goal is to combat poverty through livelihood, education and now through healthcare,\u201d Axelum President and Chief Executive Officer Romeo I. Chan said in the statement. \u201cWe believe that every Filipino deserves access to quality medical services and modern facilities.\u201d
\nThe company aims to provide professional healthcare to the local community and indigenous people of Northern Mindanao.
\nThe company said the project was launched though AMDG Foundation and in partnership with the Cagayan de Oro Polymedic Medical Group.
\nAxelum said the hospital seeks to serve more than 350,000 residents and has a long-term aspiration to become a premier end-referral hospital in the region. It also aims to expand into highly specialized treatments and services.
\nAxelum had a net loss of P428 million in the nine months ended September, a reversal of its P717.28-million net income a year earlier. Revenues fell by 19% to 4.28 billion.
\nShares of the company inched up by 0.88% to close at P2.30 each. \u2014 Adrian H. Halili
\n", "content_text": "LISTED coconut product maker Axelum Resources Corp. has branched out into healthcare by opening its first hospital in Misamis Oriental.\nThe listed Philippine company launched through civic affiliate AMDG Foundation the 100-bed San Isidro Polymedic General Hospital in Gingoog City, Misamis Oriental, it said in a stock exchange filing on Wednesday.\nThe medical center offers a suite of services including hemodialysis, emergency room, intensive care, extended laboratory and diagnostics, radiology, surgery, delivery room, neonatal, outpatient clinics, pharmacy and other essential amenities, Axelum said.\n\u201cAt Axelum, our overarching goal is to combat poverty through livelihood, education and now through healthcare,\u201d Axelum President and Chief Executive Officer Romeo I. Chan said in the statement. \u201cWe believe that every Filipino deserves access to quality medical services and modern facilities.\u201d\nThe company aims to provide professional healthcare to the local community and indigenous people of Northern Mindanao.\nThe company said the project was launched though AMDG Foundation and in partnership with the Cagayan de Oro Polymedic Medical Group.\nAxelum said the hospital seeks to serve more than 350,000 residents and has a long-term aspiration to become a premier end-referral hospital in the region. It also aims to expand into highly specialized treatments and services.\nAxelum had a net loss of P428 million in the nine months ended September, a reversal of its P717.28-million net income a year earlier. Revenues fell by 19% to 4.28 billion.\nShares of the company inched up by 0.88% to close at P2.30 each. \u2014 Adrian H. Halili", "date_published": "2024-01-04T00:04:44+08:00", "date_modified": "2024-01-03T20:47:55+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2024/01/San-Isidro-Polymedic-General-Hospital.jpg", "tags": [ "Adrian H. Halili", "Corporate", "Editors' Picks" ] }, { "id": "https://www.bworldonline.com/?p=566774", "url": "https://www.bworldonline.com/corporate/2024/01/04/566774/acen-completes-purchase-of-indonesia-wind-projects/", "title": "ACEN completes purchase of Indonesia wind projects", "content_html": "AYALA-LED ACEN Corp. said its unit has completed the acquisition of three late-stage wind projects from Indonesia-based Barito Renewables, Inc.
\nIn a stock exchange disclosure on Wednesday, the listed energy company said ACEN Renewables International Pte. Ltd. through unit ACEN Investments HK Ltd. completed the purchase of shares from UPC Renewables Asia Pacific Holdings Pte. Ltd. for the three wind development assets.
\nThe projects have a combined potential capacity of 320 megawatts (MW) and are in South Sulawesi, Sukabumi, and Lombok provinces in Indonesia.
\nACEN acquired the shares at a price that is \u201cless than 10%\u201d of its book value.
\nOn Dec. 15, ACEN HK and Barito Renewables unit PT Barito Wind Energy signed the purchase deal with UPC Renewables.
\n\u201cFollowing the signing of the respective share transfer deeds, Barito Wind owns 51% of the three development assets, while ACEN HK owns the remaining 49%,\u201d ACEN said.
\nIn February 2022, ACEN said it had completed the acquisition of UPC Renewables\u2019 shares in ACEN Australia, making it its wholly owned unit.
\nACEN Australia is the joint venture holding company of unit ACEN Renewables International and UPC Renewables for ACEN\u2019s energy projects and investments in Australia.
\nTo date, ACEN has about 4,430 MW of attributable capacity spanning the Philippines, Vietnam, Indonesia, India, and Australia.
\nACEN\u2019s share price gained 1.16% or 5 centavos to close at P4.35 each. \u2014 Sheldeen Joy Talavera
\n", "content_text": "AYALA-LED ACEN Corp. said its unit has completed the acquisition of three late-stage wind projects from Indonesia-based Barito Renewables, Inc.\nIn a stock exchange disclosure on Wednesday, the listed energy company said ACEN Renewables International Pte. Ltd. through unit ACEN Investments HK Ltd. completed the purchase of shares from UPC Renewables Asia Pacific Holdings Pte. Ltd. for the three wind development assets.\nThe projects have a combined potential capacity of 320 megawatts (MW) and are in South Sulawesi, Sukabumi, and Lombok provinces in Indonesia.\nACEN acquired the shares at a price that is \u201cless than 10%\u201d of its book value.\nOn Dec. 15, ACEN HK and Barito Renewables unit PT Barito Wind Energy signed the purchase deal with UPC Renewables.\n\u201cFollowing the signing of the respective share transfer deeds, Barito Wind owns 51% of the three development assets, while ACEN HK owns the remaining 49%,\u201d ACEN said.\nIn February 2022, ACEN said it had completed the acquisition of UPC Renewables\u2019 shares in ACEN Australia, making it its wholly owned unit.\nACEN Australia is the joint venture holding company of unit ACEN Renewables International and UPC Renewables for ACEN\u2019s energy projects and investments in Australia.\nTo date, ACEN has about 4,430 MW of attributable capacity spanning the Philippines, Vietnam, Indonesia, India, and Australia.\nACEN\u2019s share price gained 1.16% or 5 centavos to close at P4.35 each. \u2014 Sheldeen Joy Talavera", "date_published": "2024-01-04T00:03:43+08:00", "date_modified": "2024-01-03T20:47:42+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2023/03/ACEN.jpg", "tags": [ "Sheldeen Joy Talavera", "Corporate" ] }, { "id": "https://www.bworldonline.com/?p=566773", "url": "https://www.bworldonline.com/corporate/2024/01/04/566773/pldt-unit-expands-digital-services-for-pinoys-abroad/", "title": "PLDT unit expands digital services for Pinoys abroad", "content_html": "PLDT, Inc. on Wednesday said its international retail arm is expanding its digital services through a one-stop shop platform that offers online shopping and e-gift vouchers to Filipinos overseas.
\n\u201cThis is another way for us at PLDT Global and TINBO (Tindahan ni Bossing) to engage with our Filipino communities overseas by providing them with more options to care for their loved ones back home,\u201d President and Chief Executive Officer Albert V. Villa-Real said in a statement.
\nOverseas Filipino workers can now buy Lazada and Shopee e-gift vouchers for their families in the Philippines via TINBO. They can buy and send Lazada or Shopee vouchers to their loved ones as gifts \u2014 a convenient and more practical alternative than the traditional balikbayan boxes, PLDT said.
\n\u201cPlus, the e-gift vouchers allow their family members or recipients the opportunity to buy the items that they like from the online shopping apps,\u201d it added.
\nPowered by PLDT Global, TINBO is a marketplace that allows Filipinos around the world to buy load, send food vouchers, e-gifts, healthcare PINs from mWell, and even gaming PINs for their families in the Philippines.
\nThey can buy a Smart virtual number through TINBO, letting them receive one-time passwords from their e-wallets and e-banks in the Philippines like Maya.
\nTINBO also gives overseas Filipinos access to a convenient and secured online bill payment platform for their Philippine utilities and other digital services while outside the Philippines.
\nPLDT\u2019s share price lost 0.24% or P3 to P1,272 each at the close of trading in Manila.
\nHastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. \u2014\u00a0 A.E.O. Jose
\n", "content_text": "PLDT, Inc. on Wednesday said its international retail arm is expanding its digital services through a one-stop shop platform that offers online shopping and e-gift vouchers to Filipinos overseas.\n\u201cThis is another way for us at PLDT Global and TINBO (Tindahan ni Bossing) to engage with our Filipino communities overseas by providing them with more options to care for their loved ones back home,\u201d President and Chief Executive Officer Albert V. Villa-Real said in a statement.\nOverseas Filipino workers can now buy Lazada and Shopee e-gift vouchers for their families in the Philippines via TINBO. They can buy and send Lazada or Shopee vouchers to their loved ones as gifts \u2014 a convenient and more practical alternative than the traditional balikbayan boxes, PLDT said.\n\u201cPlus, the e-gift vouchers allow their family members or recipients the opportunity to buy the items that they like from the online shopping apps,\u201d it added.\nPowered by PLDT Global, TINBO is a marketplace that allows Filipinos around the world to buy load, send food vouchers, e-gifts, healthcare PINs from mWell, and even gaming PINs for their families in the Philippines.\nThey can buy a Smart virtual number through TINBO, letting them receive one-time passwords from their e-wallets and e-banks in the Philippines like Maya.\nTINBO also gives overseas Filipinos access to a convenient and secured online bill payment platform for their Philippine utilities and other digital services while outside the Philippines.\nPLDT\u2019s share price lost 0.24% or P3 to P1,272 each at the close of trading in Manila.\nHastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. \u2014\u00a0 A.E.O. Jose", "date_published": "2024-01-04T00:02:43+08:00", "date_modified": "2024-01-03T20:49:41+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2024/01/Shopee.jpg", "tags": [ "Ashley Erika O. Jose", "Corporate" ] }, { "id": "https://www.bworldonline.com/?p=566772", "url": "https://www.bworldonline.com/corporate/2024/01/04/566772/house-of-investments-unit-buys-tarlac-property-for-p2-7b/", "title": "House of Investments unit buys Tarlac property for P2.7B", "content_html": "A UNIT of Yuchengco-led House of Investments (HI) has bought a 184-hectare property in Tarlac province in northern Philippines as part of efforts to improve its property portfolio and diversify revenue sources.\u00a0 \u00a0
\nIn a regulatory filing on Wednesday, the company said Tarlac Terra Ventures, Inc., on Dec. 29 bought land from Rizal Commercial Banking Corp. (RCBC) for P2.7 billion. The lot is at the Central Techno Park in Luisita Industrial Park.
\nHouse of Investments said the property was bought through a deed of conditional sale. It added that Tarlac Terra Ventures has three years to pay for the lot.
\nThe listed firm said the transaction allows Tarlac Terra Ventures to \u201cown an asset that appreciates over time.\u201d
\n\u201cThe property is located in a prime area in Tarlac that has potential for value appreciation,\u201d it said. \u201cThe prospect of the property for future development is viewed to provide future revenues for HI.\u201d
\nHouse of Investments\u2019 core businesses are in car dealership, construction, education, and property management services. It also has portfolio investments in pharmaceuticals, energy, and death care.\u00a0 \u00a0
\nHouse of Investments shares rose by 7.03% or 23 centavos to close at P3.50 each. \u2014 Revin Mikhael D. Ochave
\n", "content_text": "A UNIT of Yuchengco-led House of Investments (HI) has bought a 184-hectare property in Tarlac province in northern Philippines as part of efforts to improve its property portfolio and diversify revenue sources.\u00a0 \u00a0\nIn a regulatory filing on Wednesday, the company said Tarlac Terra Ventures, Inc., on Dec. 29 bought land from Rizal Commercial Banking Corp. (RCBC) for P2.7 billion. The lot is at the Central Techno Park in Luisita Industrial Park.\nHouse of Investments said the property was bought through a deed of conditional sale. It added that Tarlac Terra Ventures has three years to pay for the lot.\nThe listed firm said the transaction allows Tarlac Terra Ventures to \u201cown an asset that appreciates over time.\u201d\n\u201cThe property is located in a prime area in Tarlac that has potential for value appreciation,\u201d it said. \u201cThe prospect of the property for future development is viewed to provide future revenues for HI.\u201d\nHouse of Investments\u2019 core businesses are in car dealership, construction, education, and property management services. It also has portfolio investments in pharmaceuticals, energy, and death care.\u00a0 \u00a0\nHouse of Investments shares rose by 7.03% or 23 centavos to close at P3.50 each. \u2014 Revin Mikhael D. Ochave", "date_published": "2024-01-04T00:01:42+08:00", "date_modified": "2024-01-03T20:47:24+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2023/05/House-of-Investments-logo.jpg", "tags": [ "Revin Mikhael D. Ochave", "Corporate" ] }, { "id": "https://www.bworldonline.com/?p=566643", "url": "https://www.bworldonline.com/corporate/2024/01/04/566643/how-psei-member-stocks-performed-january-3-2024/", "title": "How PSEi member stocks performed \u2014 January 3, 2024", "content_html": "Here\u2019s a quick glance at how PSEi stocks fared on Wednesday, January 3, 2024.
\n![\"\"](\"https://www.bworldonline.com/wp-content/uploads/2024/01/psei010324-scaled.jpg\")
![\"\"](\"https://www.bworldonline.com/wp-content/uploads/2024/01/pseiactives010324-scaled.jpg\")
\n
JOLLIBEE Foods Corp. has increased its capital commitment to Titan Dining LP, the private equity fund that owns the Tim Ho Wan brand and stores, to S$414 million ($313.2 million) to fund its expansion.
\nIn a disclosure to the Philippine Stock Exchange, the Philippine fast-food giant also said the participating interest of unit Jollibee Worldwide Pte. Ltd. in Titan would rise to 92% from 90% through the purchase of a 2% interest in another limited partner in the fund for S$7.7 million.
\nThe fund size of Titan will increase by S$100 million to S$450 million, Jollibee said. \u201cThese amendments are necessary to support the growth expansion of Tim Ho Wan, other brands and other future food and beverages concepts that will be part of Titan\u2019s portfolio,\u201d it told the exchange.\u00a0 \u00a0
\nJollibee shares rose by 1.43% or P3.60 to P255 apiece at the close of trading.
\nTim Ho Wan operates 78 outlets in Asia and has stores in China, Taiwan, Hong Kong, Macau, Singapore, and the Philippines. Jollibee said it seeks to have 100 Tim Ho Wan restaurants in mainland China mid-term.
\nJollibee invested S$45 million for a 45% stake in Titan, the master franchisee of Tim Ho Wan in the Asia-Pacific region, in May 2018.
\nThe company noted at that time that by investing in the fund, it could acquire a substantial interest in Tim Ho Wan\u2019s master franchise in the region through a purchase mechanism provided for in the investment agreement. To prepare for this, Jollibee set up a franchise operation of Tim Ho Wan in Shanghai.
\nIn October 2019, Jollibee Worldwide\u2019s capital commitment to Titan increased to S$120 million from S$45 million, its participating interest rose to 60% and the fund size of Titan doubled to S$200 million. Titan also expanded its assets by acquiring the Tim Ho Wan brand and trademarks.\u00a0
\nIn October 2020, Jollibee\u2019s participating interest in Titan increased further to 85% from 60% after its unit bought the 25% participating interest of another investor in the fund for S$36.3 million.\u00a0 \u00a0
\nIn August 2021, Jollibee purchased the remaining 15% of other investors in Titan. Three months later, it entered into an amended limited partnership agreement with Titan to increase the fund size to S$250 million.
\nMore investors also joined the fund with a 10% participating interest in Titan. Jollibee Worldwide\u2019s commitment increased to S$225 million or 90% of the increased fund size and total commitments.\u00a0 \u00a0
\nIn September 2022, the fund size of Titan increased by S$100 million to S$350 million, with Jollibee Worldwide\u2019s fund commitment reaching S$315 million.
\nThe listed Philippine fast-food company has two joint ventures with Titan for Tim Ho Wan in China, and for Tiong Bahru Bakery and Common Man Coffee Roasters in the Philippines. Tim Ho Wan has 19 restaurants in China, mostly in Shanghai.
\nTitan also owns and operates other businesses in the food and beverage segment such as the Open Farm Community, Tippling Club, Noka, Bochinche, The Butcher\u2019s Wife, and Drunken Farmer brands. It also has a presence in the nonfood and beverage segment via its Strip, Browhaus, and Spa Esprit brands.
\nAs of end-November, Jollibee had 6,805 stores globally across various brands, consisting of 3,487 international stores and 3,318 stores in the Philippines.\u00a0 \u00a0
\nIts largest brands by store outlets worldwide consist of Jollibee at 1,645, Coffee Bean and Tea Leaf at 1,146, Highlands Coffee at 757, Chowking at 614, and Mang Inasal at 571. \u2014 Revin Mikhael D. Ochave
\n", "content_text": "JOLLIBEE Foods Corp. has increased its capital commitment to Titan Dining LP, the private equity fund that owns the Tim Ho Wan brand and stores, to S$414 million ($313.2 million) to fund its expansion. \nIn a disclosure to the Philippine Stock Exchange, the Philippine fast-food giant also said the participating interest of unit Jollibee Worldwide Pte. Ltd. in Titan would rise to 92% from 90% through the purchase of a 2% interest in another limited partner in the fund for S$7.7 million.\nThe fund size of Titan will increase by S$100 million to S$450 million, Jollibee said. \u201cThese amendments are necessary to support the growth expansion of Tim Ho Wan, other brands and other future food and beverages concepts that will be part of Titan\u2019s portfolio,\u201d it told the exchange.\u00a0 \u00a0\nJollibee shares rose by 1.43% or P3.60 to P255 apiece at the close of trading. \nTim Ho Wan operates 78 outlets in Asia and has stores in China, Taiwan, Hong Kong, Macau, Singapore, and the Philippines. Jollibee said it seeks to have 100 Tim Ho Wan restaurants in mainland China mid-term.\nJollibee invested S$45 million for a 45% stake in Titan, the master franchisee of Tim Ho Wan in the Asia-Pacific region, in May 2018. \nThe company noted at that time that by investing in the fund, it could acquire a substantial interest in Tim Ho Wan\u2019s master franchise in the region through a purchase mechanism provided for in the investment agreement. To prepare for this, Jollibee set up a franchise operation of Tim Ho Wan in Shanghai.\nIn October 2019, Jollibee Worldwide\u2019s capital commitment to Titan increased to S$120 million from S$45 million, its participating interest rose to 60% and the fund size of Titan doubled to S$200 million. Titan also expanded its assets by acquiring the Tim Ho Wan brand and trademarks.\u00a0\nIn October 2020, Jollibee\u2019s participating interest in Titan increased further to 85% from 60% after its unit bought the 25% participating interest of another investor in the fund for S$36.3 million.\u00a0 \u00a0\nIn August 2021, Jollibee purchased the remaining 15% of other investors in Titan. Three months later, it entered into an amended limited partnership agreement with Titan to increase the fund size to S$250 million.\nMore investors also joined the fund with a 10% participating interest in Titan. Jollibee Worldwide\u2019s commitment increased to S$225 million or 90% of the increased fund size and total commitments.\u00a0 \u00a0\nIn September 2022, the fund size of Titan increased by S$100 million to S$350 million, with Jollibee Worldwide\u2019s fund commitment reaching S$315 million.\nThe listed Philippine fast-food company has two joint ventures with Titan for Tim Ho Wan in China, and for Tiong Bahru Bakery and Common Man Coffee Roasters in the Philippines. Tim Ho Wan has 19 restaurants in China, mostly in Shanghai.\nTitan also owns and operates other businesses in the food and beverage segment such as the Open Farm Community, Tippling Club, Noka, Bochinche, The Butcher\u2019s Wife, and Drunken Farmer brands. It also has a presence in the nonfood and beverage segment via its Strip, Browhaus, and Spa Esprit brands.\nAs of end-November, Jollibee had 6,805 stores globally across various brands, consisting of 3,487 international stores and 3,318 stores in the Philippines.\u00a0 \u00a0\nIts largest brands by store outlets worldwide consist of Jollibee at 1,645, Coffee Bean and Tea Leaf at 1,146, Highlands Coffee at 757, Chowking at 614, and Mang Inasal at 571. \u2014 Revin Mikhael D. Ochave", "date_published": "2024-01-03T00:06:06+08:00", "date_modified": "2024-01-02T21:03:38+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2024/01/Tim-Ho-Wan.jpg", "tags": [ "Revin Mikhael D. Ochave", "Corporate", "Editors' Picks" ] }, { "id": "https://www.bworldonline.com/?p=566498", "url": "https://www.bworldonline.com/corporate/2024/01/03/566498/eleven-month-corporate-registration-tops-2022-level/", "title": "Eleven-month corporate registration tops 2022 level", "content_html": "THE number of companies that registered in the Philippines had surpassed the 2022 level as of end-November, led by domestic stock corporations, according to the Securities and Exchange Commission (SEC).
\nIn a statement on Tuesday, the corporate regulator said electronic registration hit a record 46,455 in 11 months, exceeding 42,936 in the past year for an 8% growth.
\nDomestic stock corporations contributed 74% or 34,140 of newly registered corporations, while domestic nonstock corporations accounted for 21% or 9,727, the SEC said. Partnerships accounted for 5% or 2,453.\u00a0 \u00a0
\nMore than a third or 16,734 of the newly registered firms were domestic stock corporations with fewer than five incorporators, while 14% were one-person corporations.\u00a0 \u00a0
\nThe National Capital Region had the highest company registration at 39% or 18,342, followed by Calabarzon at 16% or 7,217, Central Luzon at 11% or 5,107, Central Visayas at 7% or 3,443, and Davao at 4% or 1,969.\u00a0 \u00a0
\n\u201cMajority or 85% are from the service sector, with the wholesale and retail trade industry group registering 9,859 (21%) new firms, followed by other service activities at 9,756 (21%),\u201d the SEC said.\u00a0 \u00a0
\nThe regulator attributed the record number to its digital initiatives that cut the registration time, including electronic registration that started in April 2021, as well as its one-day submission and electronic registration of companies introduced five months later.\u00a0 \u00a0
\n\u201cIn the past five years, the SEC has fiercely advocated digital transformation to achieve efficiency and accessibility in the corporate sector,\u201d SEC Chairman Emilio B. Aquino said in the statement. \u201cThe back-to-back record highs seen in 2022 and 2023 for company registration prove that we are succeeding in making doing business easier in the Philippines.\u201d
\n\u201cAs we start a new year, the SEC is ready to further take advantage of automated processes in place, as well as develop new systems to ensure the smooth delivery of services to the transacting public,\u201d he added. \u2014 Revin Mikhael D. Ochave
\n", "content_text": "THE number of companies that registered in the Philippines had surpassed the 2022 level as of end-November, led by domestic stock corporations, according to the Securities and Exchange Commission (SEC).\nIn a statement on Tuesday, the corporate regulator said electronic registration hit a record 46,455 in 11 months, exceeding 42,936 in the past year for an 8% growth.\nDomestic stock corporations contributed 74% or 34,140 of newly registered corporations, while domestic nonstock corporations accounted for 21% or 9,727, the SEC said. Partnerships accounted for 5% or 2,453.\u00a0 \u00a0\nMore than a third or 16,734 of the newly registered firms were domestic stock corporations with fewer than five incorporators, while 14% were one-person corporations.\u00a0 \u00a0\nThe National Capital Region had the highest company registration at 39% or 18,342, followed by Calabarzon at 16% or 7,217, Central Luzon at 11% or 5,107, Central Visayas at 7% or 3,443, and Davao at 4% or 1,969.\u00a0 \u00a0\n\u201cMajority or 85% are from the service sector, with the wholesale and retail trade industry group registering 9,859 (21%) new firms, followed by other service activities at 9,756 (21%),\u201d the SEC said.\u00a0 \u00a0\nThe regulator attributed the record number to its digital initiatives that cut the registration time, including electronic registration that started in April 2021, as well as its one-day submission and electronic registration of companies introduced five months later.\u00a0 \u00a0\n\u201cIn the past five years, the SEC has fiercely advocated digital transformation to achieve efficiency and accessibility in the corporate sector,\u201d SEC Chairman Emilio B. Aquino said in the statement. \u201cThe back-to-back record highs seen in 2022 and 2023 for company registration prove that we are succeeding in making doing business easier in the Philippines.\u201d\n\u201cAs we start a new year, the SEC is ready to further take advantage of automated processes in place, as well as develop new systems to ensure the smooth delivery of services to the transacting public,\u201d he added. \u2014 Revin Mikhael D. Ochave", "date_published": "2024-01-03T00:05:06+08:00", "date_modified": "2024-01-02T21:11:07+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2023/03/SEC-HEADQUARTERS.jpg", "tags": [ "Revin Mikhael D. Ochave", "Corporate", "Editors' Picks" ] }, { "id": "https://www.bworldonline.com/?p=566497", "url": "https://www.bworldonline.com/corporate/2024/01/03/566497/philippine-builders-may-benefit-from-states-renewed-infra-devt-plan/", "title": "Philippine builders may benefit from state\u2019s renewed infra dev\u2019t plan", "content_html": "By Ashley Erika O. Jose, Reporter
\nLISTED construction companies are expected to post better results this year amid a growing state focus on infrastructure development and with the Philippine central bank widely expected to start cutting interest rates, analysts said.
\n\u201cThere will be faster growth this year as government public-private partnership projects pick up and easing inflation lowers construction and funding costs,\u201d Cristina S. Ulang, research head at First Metro Investment Corp., said in a Viber message on Tuesday.
\nInfrastructure spending increased by 66% to P122.1 billion in August from a year earlier as the government fast-tracked projects, the Budget department said in October.
\n\u201cIf the government maintains or increases its focus on infrastructure development, as indicated by ongoing projects and future plans, listed construction companies may experience positive growth,\u201d Globalinks Securities and Stocks, Inc. head of sales trading Toby Allan C. Arce said in a Viber message.
\n\u201cContinued government support often translates to a steady flow of projects, contributing to the construction sector\u2019s overall performance. Conversely, economic challenges or uncertainties may impact the willingness of both public and private sectors to invest in construction projects,\u201d he added.\u00a0
\nConstruction industry growth could improve this year amid faster economic growth, easing inflation and possible Fed rate cuts, Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp., separately said via Viber.
\nInflation likely eased to 4% in December, according to a median estimate of 13 analysts in a BusinessWorld poll last week, amid lower prices of fruits and vegetables, electricity and fuel.
\nThe Monetary Board in December kept its benchmark rate at a 16-year high of 6.5% for a second straight meeting. From May 2022 to October this year, it raised borrowing costs by 450 basis points to tame inflation.\u00a0
\n\u201cThe government\u2019s budget on infrastructure continues to be significant, while a potential drop in interest rates that would result from a sustained decline in inflation could encourage the private sector to boost capital expenditures,\u201d April Lynn Lee-Tan, chief equity strategist at COL Financial Group, Inc. said in a Viber message.\u00a0
\nListed construction companies had mixed earnings results in the third quarter. Megawide Construction Corp.\u2019s net loss narrowed to P29.85 million from P319.58 million a year ago on higher revenue.
\nMegawide\u2019s attributable net income in the nine months to September hit P333.31 million, a turnaround from the P445.25-million net loss a year earlier.\u00a0
\nEEI Corp. reported an attributable net income of P406 million for the third quarter, higher than P33.08 a year earlier, while revenue rose by 5.3% to P4.35 billion. But it posted an attributable net loss of P294.97 million in nine months from a P149.68-million profit a year ago.
\nDuring the quarter, Phinma Corp.\u2019s attributable net income rose by 40.5% year on year to P582.77 million on higher revenue. Its attributable net income fell by 3.7% to P791.53 million in nine months.
\nThe growth of construction companies would also be driven by renewable energy projects, Mr. Arce said. \u201cIf the government\u2019s commitment to increasing the share of renewable energy in the power generation mix continues, construction companies involved in renewable energy projects may see increased opportunities.\u201d
\n", "content_text": "By Ashley Erika O. Jose, Reporter\nLISTED construction companies are expected to post better results this year amid a growing state focus on infrastructure development and with the Philippine central bank widely expected to start cutting interest rates, analysts said.\n\u201cThere will be faster growth this year as government public-private partnership projects pick up and easing inflation lowers construction and funding costs,\u201d Cristina S. Ulang, research head at First Metro Investment Corp., said in a Viber message on Tuesday.\nInfrastructure spending increased by 66% to P122.1 billion in August from a year earlier as the government fast-tracked projects, the Budget department said in October.\n\u201cIf the government maintains or increases its focus on infrastructure development, as indicated by ongoing projects and future plans, listed construction companies may experience positive growth,\u201d Globalinks Securities and Stocks, Inc. head of sales trading Toby Allan C. Arce said in a Viber message. \n\u201cContinued government support often translates to a steady flow of projects, contributing to the construction sector\u2019s overall performance. Conversely, economic challenges or uncertainties may impact the willingness of both public and private sectors to invest in construction projects,\u201d he added.\u00a0\nConstruction industry growth could improve this year amid faster economic growth, easing inflation and possible Fed rate cuts, Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp., separately said via Viber.\nInflation likely eased to 4% in December, according to a median estimate of 13 analysts in a BusinessWorld poll last week, amid lower prices of fruits and vegetables, electricity and fuel. \nThe Monetary Board in December kept its benchmark rate at a 16-year high of 6.5% for a second straight meeting. From May 2022 to October this year, it raised borrowing costs by 450 basis points to tame inflation.\u00a0\n\u201cThe government\u2019s budget on infrastructure continues to be significant, while a potential drop in interest rates that would result from a sustained decline in inflation could encourage the private sector to boost capital expenditures,\u201d April Lynn Lee-Tan, chief equity strategist at COL Financial Group, Inc. said in a Viber message.\u00a0\nListed construction companies had mixed earnings results in the third quarter. Megawide Construction Corp.\u2019s net loss narrowed to P29.85 million from P319.58 million a year ago on higher revenue. \nMegawide\u2019s attributable net income in the nine months to September hit P333.31 million, a turnaround from the P445.25-million net loss a year earlier.\u00a0\nEEI Corp. reported an attributable net income of P406 million for the third quarter, higher than P33.08 a year earlier, while revenue rose by 5.3% to P4.35 billion. But it posted an attributable net loss of P294.97 million in nine months from a P149.68-million profit a year ago.\nDuring the quarter, Phinma Corp.\u2019s attributable net income rose by 40.5% year on year to P582.77 million on higher revenue. Its attributable net income fell by 3.7% to P791.53 million in nine months.\nThe growth of construction companies would also be driven by renewable energy projects, Mr. Arce said. \u201cIf the government\u2019s commitment to increasing the share of renewable energy in the power generation mix continues, construction companies involved in renewable energy projects may see increased opportunities.\u201d", "date_published": "2024-01-03T00:04:05+08:00", "date_modified": "2024-01-02T21:01:11+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2022/07/constuction-crane.jpg", "tags": [ "Ashley Erika O. Jose", "Corporate", "Editors' Picks" ], "summary": "LISTED construction companies are expected to post better results this year amid a growing state focus on infrastructure development and with the Philippine central bank widely expected to start cutting interest rates, analysts said." }, { "id": "https://www.bworldonline.com/?p=566496", "url": "https://www.bworldonline.com/corporate/2024/01/03/566496/global-ferronickel-renews-supply-deal-with-baosteel/", "title": "Global Ferronickel renews supply deal with Baosteel", "content_html": "\n
GLOBAL Ferronickel Holdings, Inc. on Tuesday said it plans to sell 1.5 million wet metric tons (WMT) of nickel ore to Baosteel Resources International Co. Ltd.
\nIn a disclosure to the Philippine Stock Exchange, the company said units Platinum Group Metals Corp. and Ipilan Nickel Corp. have renewed the purchase deal with the China-based company.
\nGlobal Ferronickel said the ore would come from the company\u2019s operating mines in Surigao del Norte and Palawan. The price of the ore would be determined monthly based on the prevailing market price.
\n\u201cThis agreement and our long history together demonstrate our customer\u2019s confidence in our business and provide further recognition of our efforts in maintaining a reliable supply chain to meet the demands for Baosteel products throughout the Asia-Pacific region and internationally,\u201d Global Ferronickel President Dante R. Bravos said in the statement.
\nGlobal Ferronickel\u2019s share price rose by 0.49% or a centavo to close at P2.07 apiece.
\nThe Philippine miner said two-thirds of its ore to be sold this year is expected to be low-grade with 0.90% nickel content and 48% iron content,
\nIt said a third of the shipment would be composed of low-grade nickel ore with 0.9% nickel and 49% iron. The remainder will be medium grade with more than 1.4% nickel content and an iron content of 12% to 23%.
\nMeanwhile, Global Ferronickel said it shipped 4.76 million WMT of nickel ore last year \u2014 3.297 million WMT from PGMC and 1.466 million WMT from Ipilan. It sold 0.38 million WMT to Baosteel last year.
\nBaosteel, a unit of China Baowu Steel Group, has interests in mineral resource investment, trading, and logistics services.
\nGlobal Ferronickel is a holding company engaged in nickel ore mining, logistics, cement and steel production and port operations. \u2014 Adrian H. Halili
\n", "content_text": "GLOBAL Ferronickel Holdings, Inc. on Tuesday said it plans to sell 1.5 million wet metric tons (WMT) of nickel ore to Baosteel Resources International Co. Ltd.\nIn a disclosure to the Philippine Stock Exchange, the company said units Platinum Group Metals Corp. and Ipilan Nickel Corp. have renewed the purchase deal with the China-based company.\nGlobal Ferronickel said the ore would come from the company\u2019s operating mines in Surigao del Norte and Palawan. The price of the ore would be determined monthly based on the prevailing market price.\n\u201cThis agreement and our long history together demonstrate our customer\u2019s confidence in our business and provide further recognition of our efforts in maintaining a reliable supply chain to meet the demands for Baosteel products throughout the Asia-Pacific region and internationally,\u201d Global Ferronickel President Dante R. Bravos said in the statement.\nGlobal Ferronickel\u2019s share price rose by 0.49% or a centavo to close at P2.07 apiece.\nThe Philippine miner said two-thirds of its ore to be sold this year is expected to be low-grade with 0.90% nickel content and 48% iron content, \nIt said a third of the shipment would be composed of low-grade nickel ore with 0.9% nickel and 49% iron. The remainder will be medium grade with more than 1.4% nickel content and an iron content of 12% to 23%.\nMeanwhile, Global Ferronickel said it shipped 4.76 million WMT of nickel ore last year \u2014 3.297 million WMT from PGMC and 1.466 million WMT from Ipilan. It sold 0.38 million WMT to Baosteel last year.\nBaosteel, a unit of China Baowu Steel Group, has interests in mineral resource investment, trading, and logistics services. \nGlobal Ferronickel is a holding company engaged in nickel ore mining, logistics, cement and steel production and port operations. \u2014 Adrian H. Halili", "date_published": "2024-01-03T00:03:04+08:00", "date_modified": "2024-01-02T21:00:17+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2022/03/GNFI-Global-Ferronickel-e1699535457241.jpg", "tags": [ "Adrian H. Halili", "Corporate" ] }, { "id": "https://www.bworldonline.com/?p=566495", "url": "https://www.bworldonline.com/corporate/2024/01/03/566495/vll-international-to-sell-2-b-notes/", "title": "VLL International to sell $2-B notes", "content_html": "\n
VILLAR-LED property developer Vista Land & Lifescapes, Inc. said its unit had approved a $2-billion medium-term note program as part of capital raising efforts.\u00a0
\nIn a stock exchange disclosure on Tuesday, Vista Land said VLL International, Inc. approved the program on Dec. 29 and hired DBS Bank Ltd. and HSBC as dealers for the offer, sale, and issuance of the notes.
\nThe notes are guaranteed by Vista Land and units Brittany Corp., Crown Asia Properties, Inc., Camella Homes, Inc., Communities Philippines, Inc., Vistamalls, Inc., and Vista Residences, Inc.
\nVista Land posted a 70% increase in net income to P8.2 billion in the first nine months, as consolidated revenue jumped by 18% to P27.4 billion.\u00a0 \u00a0
\nShares of Vista Land at the local bourse gained 0.6% or a centavo to P1.69 each.\u00a0 \u2014 Revin Mikhael D. Ochave
\n", "content_text": "VILLAR-LED property developer Vista Land & Lifescapes, Inc. said its unit had approved a $2-billion medium-term note program as part of capital raising efforts.\u00a0\nIn a stock exchange disclosure on Tuesday, Vista Land said VLL International, Inc. approved the program on Dec. 29 and hired DBS Bank Ltd. and HSBC as dealers for the offer, sale, and issuance of the notes.\nThe notes are guaranteed by Vista Land and units Brittany Corp., Crown Asia Properties, Inc., Camella Homes, Inc., Communities Philippines, Inc., Vistamalls, Inc., and Vista Residences, Inc. \nVista Land posted a 70% increase in net income to P8.2 billion in the first nine months, as consolidated revenue jumped by 18% to P27.4 billion.\u00a0 \u00a0\nShares of Vista Land at the local bourse gained 0.6% or a centavo to P1.69 each.\u00a0 \u2014 Revin Mikhael D. Ochave", "date_published": "2024-01-03T00:02:04+08:00", "date_modified": "2024-01-02T20:59:39+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2021/11/Vista-Land-logo-e1694611326527.jpg", "tags": [ "Revin Mikhael D. Ochave", "Corporate" ] }, { "id": "https://www.bworldonline.com/?p=566494", "url": "https://www.bworldonline.com/corporate/2024/01/03/566494/globe-to-prioritize-cyber-security-digital-inclusion-efforts/", "title": "Globe to prioritize cyber-security, digital inclusion efforts", "content_html": "\n
GLOBE Telecom, Inc. would continue to explore emerging technologies to advance its cybersecurity and digital inclusion efforts, the listed telecommunication company said.\u00a0 \u00a0
\nThe company ranked the highest among telecommunication companies in the 2023 digital inclusion benchmark conducted by the World Benchmarking Alliance, Globe Chief Sustainability and Corporate Communications Officer Maria Yolanda C. Crisanto said in an e-mailed statement on Tuesday.
\n\u201cOur progress in the digital inclusion benchmark affirms our efforts to equip customers with the necessary skills to navigate the digital world,\u201d she said. \u201cWe remain committed to uplifting digital technology.\u201d
\nThe World Benchmarking Alliance assesses company initiatives in advancing access to digital technologies. \u201cGlobe\u2019s performance highlights its dedicated efforts in cyber-security, data privacy, child online safety and digital literacy,\u201d the company said.\u00a0
\nIt added it would prioritize cybersecurity and data privacy.
\nIn a separate statement, Globe said it had blocked more than seven million bank-related spam and scam text messages in the nine months to September last year.\u00a0
\nIt said blocked spam and scam text messages declined by 85%, which it attributed to its collaboration with banks and other financial institutions.
\nLast year, the telecommunication company said it had invested about $20 million (P1.1 billion) in a spam-blocking and detection system that functions continuously and can filter unwanted messages.
\nGlobe\u2019s share price added 0.87% or P15 to P1,735 each at the close of trading. \u2014 Ashley Erika O. Jose
\n", "content_text": "GLOBE Telecom, Inc. would continue to explore emerging technologies to advance its cybersecurity and digital inclusion efforts, the listed telecommunication company said.\u00a0 \u00a0\nThe company ranked the highest among telecommunication companies in the 2023 digital inclusion benchmark conducted by the World Benchmarking Alliance, Globe Chief Sustainability and Corporate Communications Officer Maria Yolanda C. Crisanto said in an e-mailed statement on Tuesday. \n\u201cOur progress in the digital inclusion benchmark affirms our efforts to equip customers with the necessary skills to navigate the digital world,\u201d she said. \u201cWe remain committed to uplifting digital technology.\u201d \nThe World Benchmarking Alliance assesses company initiatives in advancing access to digital technologies. \u201cGlobe\u2019s performance highlights its dedicated efforts in cyber-security, data privacy, child online safety and digital literacy,\u201d the company said.\u00a0\nIt added it would prioritize cybersecurity and data privacy.\nIn a separate statement, Globe said it had blocked more than seven million bank-related spam and scam text messages in the nine months to September last year.\u00a0\nIt said blocked spam and scam text messages declined by 85%, which it attributed to its collaboration with banks and other financial institutions.\nLast year, the telecommunication company said it had invested about $20 million (P1.1 billion) in a spam-blocking and detection system that functions continuously and can filter unwanted messages. \nGlobe\u2019s share price added 0.87% or P15 to P1,735 each at the close of trading. \u2014 Ashley Erika O. Jose", "date_published": "2024-01-03T00:01:03+08:00", "date_modified": "2024-01-02T20:57:04+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2022/05/globe-cell-tower.jpg", "tags": [ "Ashley Erika O. Jose", "Corporate" ] }, { "id": "https://www.bworldonline.com/?p=566467", "url": "https://www.bworldonline.com/corporate/2024/01/03/566467/how-psei-member-stocks-performed-january-2-2024/", "title": "How PSEi member stocks performed \u2014 January 2, 2024", "content_html": "Here\u2019s a quick glance at how PSEi stocks fared on Tuesday, January 2, 2024.
\n![\"\"](\"https://www.bworldonline.com/wp-content/uploads/2024/01/psei01024-scaled.jpg\")
![\"\"](\"https://www.bworldonline.com/wp-content/uploads/2024/01/pseiactives01024-scaled.jpg\")
\n
PHILIPPINE economic growth that is expected to top the region would likely drive local shares to new heights this year, according to the local bourse operator.
\n\u201cThe expected improvement in macroeconomic indicators is poised to drive market conditions in 2024,\u201d Philippine Stock Exchange, Inc. (PSE) President and Chief Executive Officer Ramon S. Monzon said in a statement on Monday.
\nThe Philippines is projected to lead the Southeast Asian region with the highest gross domestic product (GDP) growth in 2024 at 6.2% compared with Vietnam\u2019s 6%, Indonesia\u2019s 5%, Malaysia\u2019s 4.6%, Thailand\u2019s 3.3%, and Singapore 2.5%, he said, citing outlook from the Asian Development Bank.
\nHe also cited inflation that is expected to slow this year.
\nPhilippines inflation is projected to ease to about 4% from an average of 6.9% as of end-November. The US Federal Reserve and Bangko Sentral ng Pilipinas (BSP) are expected to cut rates, now at 5.25%-5.5% and 6.5%, respectively, Mr. Monzon said.
\nThe PSE index (PSEi) could range from 6,800 to 8,300 in 2024, he said, citing analyst projections. The main index closed at 6,450.04 last year, down by 1.8% or 116.35 points from 2022.
\n\u201cThe expected rate cuts by the US Fed and BSP, as well as Philippine government\u2019s aggressive spending on infrastructure projects and the continued increase in foreign investment pledges are expected to stimulate consumption, generate job opportunities and encourage additional investments,\u201d Mr. Monzon said.
\nRisks to the outlook include the potential impact of higher transport costs, electricity rates and international oil prices, he added.\u00a0
\nMr. Monzon said he expects six initial public offerings (IPO) this year, including the P12.9-billion maiden share sale of Saavedra-led Citicore Renewable Energy Corp.
\nHe also expects IPOs by real estate investment trusts, while P175 billion worth of capital is expected to be raised this year.\u00a0
\n\u201cOur capital-raising forecast is P175 billion, around P40 billion of which will come from IPOs,\u201d Mr. Monzon said.\u00a0
\nIn 2023, the PSE raised P140.95 billion worth of capital from primary and secondary shares, 27.8%\u00a0 higher than a year earlier.
\nThe PSE also had three IPOs, five follow-on offerings, five stock rights offerings, and 11 private placements.\u00a0
\nMeanwhile, Mr. Monzon said the PSE would continue to push regulatory reforms such as the implementation of the proposed Capital Markets Efficiency Promotion Act, which seeks to reduce the stock transaction tax to 0.1% from 0.6% and lower the dividend tax on nonresident aliens to 10% from 25%.\u00a0
\nHe added that the PSE is pushing to increase the number of listed companies and engage investors via various marketing campaigns and assistance programs.\u00a0
\n\u201cThe PSE will continue to introduce new products and push new laws and regulatory reforms that will promote and encourage wider stock market participation and entice foreign investors back to our market,\u201d Mr. Monzon said.
\n\u201cWe will likewise continue to pursue our various initiatives to help and attract companies to list their shares on the exchange,\u201d he added. \u2014 Revin Mikhael D. Ochave
\n", "content_text": "PHILIPPINE economic growth that is expected to top the region would likely drive local shares to new heights this year, according to the local bourse operator.\n\u201cThe expected improvement in macroeconomic indicators is poised to drive market conditions in 2024,\u201d Philippine Stock Exchange, Inc. (PSE) President and Chief Executive Officer Ramon S. Monzon said in a statement on Monday.\nThe Philippines is projected to lead the Southeast Asian region with the highest gross domestic product (GDP) growth in 2024 at 6.2% compared with Vietnam\u2019s 6%, Indonesia\u2019s 5%, Malaysia\u2019s 4.6%, Thailand\u2019s 3.3%, and Singapore 2.5%, he said, citing outlook from the Asian Development Bank.\nHe also cited inflation that is expected to slow this year.\nPhilippines inflation is projected to ease to about 4% from an average of 6.9% as of end-November. The US Federal Reserve and Bangko Sentral ng Pilipinas (BSP) are expected to cut rates, now at 5.25%-5.5% and 6.5%, respectively, Mr. Monzon said.\nThe PSE index (PSEi) could range from 6,800 to 8,300 in 2024, he said, citing analyst projections. The main index closed at 6,450.04 last year, down by 1.8% or 116.35 points from 2022.\n\u201cThe expected rate cuts by the US Fed and BSP, as well as Philippine government\u2019s aggressive spending on infrastructure projects and the continued increase in foreign investment pledges are expected to stimulate consumption, generate job opportunities and encourage additional investments,\u201d Mr. Monzon said.\nRisks to the outlook include the potential impact of higher transport costs, electricity rates and international oil prices, he added.\u00a0\nMr. Monzon said he expects six initial public offerings (IPO) this year, including the P12.9-billion maiden share sale of Saavedra-led Citicore Renewable Energy Corp.\nHe also expects IPOs by real estate investment trusts, while P175 billion worth of capital is expected to be raised this year.\u00a0\n\u201cOur capital-raising forecast is P175 billion, around P40 billion of which will come from IPOs,\u201d Mr. Monzon said.\u00a0\nIn 2023, the PSE raised P140.95 billion worth of capital from primary and secondary shares, 27.8%\u00a0 higher than a year earlier.\nThe PSE also had three IPOs, five follow-on offerings, five stock rights offerings, and 11 private placements.\u00a0\nMeanwhile, Mr. Monzon said the PSE would continue to push regulatory reforms such as the implementation of the proposed Capital Markets Efficiency Promotion Act, which seeks to reduce the stock transaction tax to 0.1% from 0.6% and lower the dividend tax on nonresident aliens to 10% from 25%.\u00a0\nHe added that the PSE is pushing to increase the number of listed companies and engage investors via various marketing campaigns and assistance programs.\u00a0\n\u201cThe PSE will continue to introduce new products and push new laws and regulatory reforms that will promote and encourage wider stock market participation and entice foreign investors back to our market,\u201d Mr. Monzon said.\n\u201cWe will likewise continue to pursue our various initiatives to help and attract companies to list their shares on the exchange,\u201d he added. \u2014 Revin Mikhael D. Ochave", "date_published": "2024-01-02T00:07:54+08:00", "date_modified": "2024-01-01T20:40:09+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2022/07/PSE-trading-floor-traders.jpg", "tags": [ "Revin Mikhael D. Ochave", "Corporate", "Editors' Picks" ] }, { "id": "https://www.bworldonline.com/?p=566252", "url": "https://www.bworldonline.com/corporate/2024/01/02/566252/colliers-sees-better-philippine-office-take-up-in-2024/", "title": "Colliers sees better Philippine office take-up in 2024", "content_html": "By Ashley Erika O. Jose, Reporter
\nTHE Philippines\u2019 office property market is expected to improve in 2024 on better demand for office spaces and as companies resume their real estate plans this year, Colliers Philippines said.
\n\u201cNet take-up will remain in positive territory for 2024,\u201d Kath Taburada, senior market analyst at Colliers Philippines, said in an e-mail. \u201cIn terms of office demand and net take-up, we will continue to experience improvement in Metro Manila.\u201d
\nExpansions and new setups accounted for 70% of transactions as of the third quarter of last year, Ms. Taburada said, adding she expects the net take-up to be sustained this year.
\n\u201cThis indicates that companies are now rolling out their real estate plans that were put on hold by the pandemic or were previously in a wait-and-see situation,\u201d she added.
\nIn a report, Colliers said the take-up is mainly due to the demand from traditional and outsourcing companies, with more workers expected to work in offices.
\nMs. Taburada said the net take-up this year is projected to reach 300,000 square meters (sq.m.), 36.4% higher than in 2023.
\nTenants are also seen to continue using so-called flight-to-value techniques due to the availability of lower priced quality office spaces in prime locations.
\nThis year\u2019s office supply is expected to reach 538,000 sq.m., while office vacancies will be at 22%, according to the report.
\n\u201cIn 2024, we expect occupiers to continue implementing flight-to-value strategies as more Grade A office buildings are to be delivered,\u201d Ms.\u00a0Taburada said. About 600,000 sq.m. of office space is expected to be completed this year, she said.
\nIn 2023, the office market gained momentum in terms of demand and net take-up after recording a net take-up of 153,000 sq.m. in the third quarter.
\n\u201cTwo years after the start of the pandemic, the office market finally saw a turnaround in 2022 when it first saw a positive net take-up,\u201d Ms. Taburada said. \u201cIn the previous year, we recorded a net take-up of 110,000 sq.m. The positive net take-up is attributed to office demand outpacing nonrenewals and pre-terminations.\u201d
\nThe information technology and business process management (IT-BPM) industry is expected to remain the key driver of the country\u2019s office market growth in 2024, Colliers said, citing the projection of IT and Business Process Association of the Philippines\u2019 (IBPAP) 7-8% growth in staffing this year.
\n\u201cThe office market is seen to benefit from this growth.\u201d
\nNew and existing tenants are also seeking new locations outside Metro Manila for their expansion plans, including Cebu, Pampanga, Laguna, Davao, Iloilo, and Bacolod.
\n\u201cIncorporating satellite offices in their real estate strategy has become an imperative to retain talent, as some of their employees have already returned to their provinces during the pandemic,\u201d Ms. Taburada said.
\n", "content_text": "By Ashley Erika O. Jose, Reporter\nTHE Philippines\u2019 office property market is expected to improve in 2024 on better demand for office spaces and as companies resume their real estate plans this year, Colliers Philippines said.\n\u201cNet take-up will remain in positive territory for 2024,\u201d Kath Taburada, senior market analyst at Colliers Philippines, said in an e-mail. \u201cIn terms of office demand and net take-up, we will continue to experience improvement in Metro Manila.\u201d\nExpansions and new setups accounted for 70% of transactions as of the third quarter of last year, Ms. Taburada said, adding she expects the net take-up to be sustained this year.\n\u201cThis indicates that companies are now rolling out their real estate plans that were put on hold by the pandemic or were previously in a wait-and-see situation,\u201d she added.\nIn a report, Colliers said the take-up is mainly due to the demand from traditional and outsourcing companies, with more workers expected to work in offices.\nMs. Taburada said the net take-up this year is projected to reach 300,000 square meters (sq.m.), 36.4% higher than in 2023.\nTenants are also seen to continue using so-called flight-to-value techniques due to the availability of lower priced quality office spaces in prime locations.\nThis year\u2019s office supply is expected to reach 538,000 sq.m., while office vacancies will be at 22%, according to the report.\n\u201cIn 2024, we expect occupiers to continue implementing flight-to-value strategies as more Grade A office buildings are to be delivered,\u201d Ms.\u00a0Taburada said. About 600,000 sq.m. of office space is expected to be completed this year, she said.\nIn 2023, the office market gained momentum in terms of demand and net take-up after recording a net take-up of 153,000 sq.m. in the third quarter. \n\u201cTwo years after the start of the pandemic, the office market finally saw a turnaround in 2022 when it first saw a positive net take-up,\u201d Ms. Taburada said. \u201cIn the previous year, we recorded a net take-up of 110,000 sq.m. The positive net take-up is attributed to office demand outpacing nonrenewals and pre-terminations.\u201d\nThe information technology and business process management (IT-BPM) industry is expected to remain the key driver of the country\u2019s office market growth in 2024, Colliers said, citing the projection of IT and Business Process Association of the Philippines\u2019 (IBPAP) 7-8% growth in staffing this year. \n\u201cThe office market is seen to benefit from this growth.\u201d\nNew and existing tenants are also seeking new locations outside Metro Manila for their expansion plans, including Cebu, Pampanga, Laguna, Davao, Iloilo, and Bacolod.\n\u201cIncorporating satellite offices in their real estate strategy has become an imperative to retain talent, as some of their employees have already returned to their provinces during the pandemic,\u201d Ms. Taburada said.", "date_published": "2024-01-02T00:06:54+08:00", "date_modified": "2024-01-01T20:38:29+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2023/08/Office-space.jpg", "tags": [ "Ashley Erika O. Jose", "Corporate", "Editors' Picks" ], "summary": "THE Philippines\u2019 office property market is expected to improve in 2024 on better demand for office spaces and as companies resume their real estate plans this year, Colliers Philippines said." }, { "id": "https://www.bworldonline.com/?p=566251", "url": "https://www.bworldonline.com/corporate/2024/01/02/566251/meralco-share-price-boosted-by-takeover-of-sp-new-energy/", "title": "Meralco share price boosted by takeover of SP New Energy", "content_html": "By Abigail Marie P. Yraola, Researcher
\nTHE share price of Manila Electric Co. (Meralco) rose last week on news of its takeover of SP New Energy Corp. with a P15.9-billion investment and after announcing a 650-megawatt (MW) energy supply deal for the summer.
\nData from the Philippine Stock Exchange (PSE) showed 513,320 Meralco shares worth P251.7 million were traded from Dec. 27-29, making the listed power distributor the 10th most actively traded stock. Local financial markets were closed on Dec. 25-26 for the holidays.
\nMeralco shares closed at P399 each on Friday. The stock price rose by 2.8% from a week earlier. For the year, the stock increased by 33.5%.
\nThe prospect of easing lending rates drove Meralco share prices up, Aniceto K. Pangan, a trader at Diversified Securities, said in an e-mail. \u201cThe move to acquire a majority stake in SP New Energy may further enhance the growth of Meralco with projected 3500-megawatt solar panels.\u201d
\nMeralco Chairman and Chief Executive Officer Manuel V. Pangilinan has taken over the Leviste-led SP New Energy with a P15.9-billion investment from generation unit MGEN Renewable Energy, Inc. (MGreen), according to news reports.
\nIn a regulatory filing, MGreen said it had completed the acquisition by paying the P8.89-billion balance. It will hold 15.7 billion common shares and 19.4 billion preferred shares in SP New Energy, giving it a total voting interest of 50.5%.
\nMGreen is the renewable energy development arm of Meralco unit Meralco Powergen Corp.
\nThe listed distributor is said to be seeking to buy 650 MW of critical supply to ensure reliable service in the summer.
\nThe company is waiting for the Department of Energy\u2019s (DOE) approval of the terms of reference for separate contracts for a 400-MW interim power supply agreement and a 250-MW peaking supply deal.
\nMeralco plans to make available its 250-MW peaking supply between February and July, subject to approval by the Energy department. The company is looking at getting bid submissions by Jan. 23 and delivering the power by Feb.\u00a026.
\nMr. Pangan attributed the stock\u2019s growth to double-digit income growth, which was driven by its generation business.
\nIn the third quarter, Meralco\u2019s attributable net income jumped by 58.9% to P10.55 billion from a year earlier, even as consolidated revenue fell by 4.2% to P110.41 billion. Its nine-month income rose by 43.7% to P28.4 billion, while consolidated revenue grew by 6.5% to P335.31 billion.
\nMr. Pangan said investors and traders might consider Meralco if global interest rates continue to ease on subdued inflation.
\nHe expects Meralco earnings to have risen to P12 billion in the fourth quarter, with a full-year net income of P40 billion. \u201cImmediate support is at P382 per share, while immediate resistance is at P399 per share.\u201d
\n", "content_text": "By Abigail Marie P. Yraola, Researcher\nTHE share price of Manila Electric Co. (Meralco) rose last week on news of its takeover of SP New Energy Corp. with a P15.9-billion investment and after announcing a 650-megawatt (MW) energy supply deal for the summer. \nData from the Philippine Stock Exchange (PSE) showed 513,320 Meralco shares worth P251.7 million were traded from Dec. 27-29, making the listed power distributor the 10th most actively traded stock. Local financial markets were closed on Dec. 25-26 for the holidays. \nMeralco shares closed at P399 each on Friday. The stock price rose by 2.8% from a week earlier. For the year, the stock increased by 33.5%.\nThe prospect of easing lending rates drove Meralco share prices up, Aniceto K. Pangan, a trader at Diversified Securities, said in an e-mail. \u201cThe move to acquire a majority stake in SP New Energy may further enhance the growth of Meralco with projected 3500-megawatt solar panels.\u201d\nMeralco Chairman and Chief Executive Officer Manuel V. Pangilinan has taken over the Leviste-led SP New Energy with a P15.9-billion investment from generation unit MGEN Renewable Energy, Inc. (MGreen), according to news reports. \nIn a regulatory filing, MGreen said it had completed the acquisition by paying the P8.89-billion balance. It will hold 15.7 billion common shares and 19.4 billion preferred shares in SP New Energy, giving it a total voting interest of 50.5%.\nMGreen is the renewable energy development arm of Meralco unit Meralco Powergen Corp.\nThe listed distributor is said to be seeking to buy 650 MW of critical supply to ensure reliable service in the summer.\nThe company is waiting for the Department of Energy\u2019s (DOE) approval of the terms of reference for separate contracts for a 400-MW interim power supply agreement and a 250-MW peaking supply deal. \nMeralco plans to make available its 250-MW peaking supply between February and July, subject to approval by the Energy department. The company is looking at getting bid submissions by Jan. 23 and delivering the power by Feb.\u00a026. \nMr. Pangan attributed the stock\u2019s growth to double-digit income growth, which was driven by its generation business.\nIn the third quarter, Meralco\u2019s attributable net income jumped by 58.9% to P10.55 billion from a year earlier, even as consolidated revenue fell by 4.2% to P110.41 billion. Its nine-month income rose by 43.7% to P28.4 billion, while consolidated revenue grew by 6.5% to P335.31 billion.\nMr. Pangan said investors and traders might consider Meralco if global interest rates continue to ease on subdued inflation.\nHe expects Meralco earnings to have risen to P12 billion in the fourth quarter, with a full-year net income of P40 billion. \u201cImmediate support is at P382 per share, while immediate resistance is at P399 per share.\u201d", "date_published": "2024-01-02T00:05:53+08:00", "date_modified": "2024-01-01T20:41:00+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2022/03/Meralco-Linemen.jpg", "tags": [ "Abigail Marie P. Yraola", "OUTLIER", "Corporate", "Editors' Picks" ], "summary": "THE share price of Manila Electric Co. (Meralco) rose last week on news of its takeover of SP New Energy Corp. with a P15.9-billion investment and after announcing a 650-megawatt (MW) energy supply deal for the summer." }, { "id": "https://www.bworldonline.com/?p=566250", "url": "https://www.bworldonline.com/corporate/2024/01/02/566250/ac-health-eyes-more-mergers/", "title": "AC Health eyes more mergers", "content_html": "\n
THE healthcare arm of Ayala Corp. is eyeing more mergers and acquisitions (M&A) in 2024 as it seeks to expand its presence across the country, according to its top official.
\n\u201cWe do have a rich pipeline of M&A opportunities that we are looking at around the country across our group \u2014 hospitals, clinics, pharmaceuticals,\u201d Ayala Healthcare Holdings, Inc. (AC Health) President and Chief Executive Officer Paolo Maximo F. Borromeo told reporters last week.
\nJaime E. Ysmael, Healthway Medical Network chief executive officer, separately told reporters they expect two to three M&As. Healthway Medical Network is the unified hospital brand of AC Health. \u00a0 \u00a0
\n\u201cWe want to be the majority (owner) or at least have a path to majority (ownership) at some point in time,\u201d he said. \u201cBut it should be chunky investments.\u201d
\nAC Health now has six hospitals after inaugurating the Healthway Cancer Care Hospital in Taguig City and partnering with the Far Eastern University-Nicanor Reyes Medical Foundation for the management of their university hospital.\u00a0
\nAside from M&As, Mr.\u00a0Borromeo said AC Health is also keen to participate in public-private partnerships (PPP), adding that the company may bid for the P6-billion University of the Philippines-Philippine General Hospital Cancer Center.
\n\u201cWhere there are opportunities for us to participate via PPP, we will do it, as we are looking at participating in the PPP of the PGH Cancer Center,\u201d he said.
\nThe center, which is touted to improve the PGH cancer facility, will have a 300-bed capacity. The awarding and signing of the contract for the cancer center is set for this quarter.
\nMr. Ysmael said smaller PPPs with local government units would also be explored. \u201cWe\u2019re also looking at smaller PPPs with LGUs, either to manage their dialysis centers or even their ambulatory centers. These are smaller PPPs are more meaningful because we\u2019re helping them to improve their healthcare system.\u201d
\nAC Health\u2019s portfolio includes the pharmacy chain Generika Drugstore, pharmaceutical importer and distributor IE Medica and MedEthix, multi-specialty clinics, ambulatory centers and full-service hospital network Healthway, and healthcare aggregator app KonsultaMD. \u2014 Revin Mikhael D. Ochave
\n", "content_text": "THE healthcare arm of Ayala Corp. is eyeing more mergers and acquisitions (M&A) in 2024 as it seeks to expand its presence across the country, according to its top official.\n\u201cWe do have a rich pipeline of M&A opportunities that we are looking at around the country across our group \u2014 hospitals, clinics, pharmaceuticals,\u201d Ayala Healthcare Holdings, Inc. (AC Health) President and Chief Executive Officer Paolo Maximo F. Borromeo told reporters last week.\nJaime E. Ysmael, Healthway Medical Network chief executive officer, separately told reporters they expect two to three M&As. Healthway Medical Network is the unified hospital brand of AC Health. \u00a0 \u00a0\n\u201cWe want to be the majority (owner) or at least have a path to majority (ownership) at some point in time,\u201d he said. \u201cBut it should be chunky investments.\u201d\nAC Health now has six hospitals after inaugurating the Healthway Cancer Care Hospital in Taguig City and partnering with the Far Eastern University-Nicanor Reyes Medical Foundation for the management of their university hospital.\u00a0\nAside from M&As, Mr.\u00a0Borromeo said AC Health is also keen to participate in public-private partnerships (PPP), adding that the company may bid for the P6-billion University of the Philippines-Philippine General Hospital Cancer Center.\n\u201cWhere there are opportunities for us to participate via PPP, we will do it, as we are looking at participating in the PPP of the PGH Cancer Center,\u201d he said.\nThe center, which is touted to improve the PGH cancer facility, will have a 300-bed capacity. The awarding and signing of the contract for the cancer center is set for this quarter. \nMr. Ysmael said smaller PPPs with local government units would also be explored. \u201cWe\u2019re also looking at smaller PPPs with LGUs, either to manage their dialysis centers or even their ambulatory centers. These are smaller PPPs are more meaningful because we\u2019re helping them to improve their healthcare system.\u201d\nAC Health\u2019s portfolio includes the pharmacy chain Generika Drugstore, pharmaceutical importer and distributor IE Medica and MedEthix, multi-specialty clinics, ambulatory centers and full-service hospital network Healthway, and healthcare aggregator app KonsultaMD. \u2014 Revin Mikhael D. Ochave", "date_published": "2024-01-02T00:04:52+08:00", "date_modified": "2024-01-01T20:37:10+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2024/01/Healthway-Cancer-Care-Hospital.jpg", "tags": [ "Revin Mikhael D. Ochave", "Corporate" ] }, { "id": "https://www.bworldonline.com/?p=566191", "url": "https://www.bworldonline.com/corporate/2024/01/02/566191/public-warned-vs-two-unregistered-investment-firms/", "title": "Public warned vs two unregistered investment firms", "content_html": "\n
THE Securities and Exchange Commission (SEC) has warned Filipinos against investing in two entities without a license to solicit investments.
\nIn separate advisories posted on its website, the corporate regulator flagged BNY PAL (Benta Paluwagan)/BNYPAL & Trading and Pecado, saying these are unregistered firms.
\nBNY PAL invites people to invest at least P20,000 via \u201cpaluwagan slots or cash benta slots,\u201d according to the SEC.
\n\u201cThe scheme employed by BNY PAL has the characteristics of a Ponzi scheme, where monies from new investors are used in paying fake profits to prior investors and is designed mainly to favor its top recruiters and prior risk takers and is detrimental to subsequent members in case of scarcity of new investors,\u201d the SEC said.
\nIt added that BNY PAL offers various paluwagan slots and income for different maturity periods, but there is no matrix on how much income investors will get.
\n\u201cBased on one of the contracts posted, BNY PAL (Benta Paluwagan)/BNYPAL & Trading offers a minimum of 30% (income) in just 10 days,\u201d the SEC said. \u00a0
\n\u201cThe Securities Regulation Code requires that said offer and sale of securities must be duly registered with the commission and that the concerned entity and/or its agents should have the appropriate registration and/or license to sell such securities to the public,\u201d it added.
\nMeanwhile, the SEC said Pecado or P/E Capital Assetized Digital Offerings is an interactive digital investment platform that urges the public to invest in its digital assets. It also acts as a stockbroker.
\nIt said Pecado is wholly owned by the US SEC registered investment advisory firm Ashtree Block Ventures LLC. It is operated by Ashtree Block Ventures UAB, which is a unit of Ashtree Block Ventures.
\n\u201cWhile Ashtree Block Ventures is a registered investment advisory firm overseas, it is not registered with the commission as a corporation or as a partnership,\u201d the SEC said. \u201cHowever, an entity named Ashtree Consultancy, Inc., an affiliate firm incorporated in the Philippines, holds a service contract agreement to manage the back-office operations of Pecado.\u201d
\nA company must have a license and should be registered locally before being allowed to do business in the Philippines, the SEC said. \u2014 Revin Mikhael D. Ochave
\n", "content_text": "THE Securities and Exchange Commission (SEC) has warned Filipinos against investing in two entities without a license to solicit investments.\nIn separate advisories posted on its website, the corporate regulator flagged BNY PAL (Benta Paluwagan)/BNYPAL & Trading and Pecado, saying these are unregistered firms.\nBNY PAL invites people to invest at least P20,000 via \u201cpaluwagan slots or cash benta slots,\u201d according to the SEC.\n\u201cThe scheme employed by BNY PAL has the characteristics of a Ponzi scheme, where monies from new investors are used in paying fake profits to prior investors and is designed mainly to favor its top recruiters and prior risk takers and is detrimental to subsequent members in case of scarcity of new investors,\u201d the SEC said. \nIt added that BNY PAL offers various paluwagan slots and income for different maturity periods, but there is no matrix on how much income investors will get. \n\u201cBased on one of the contracts posted, BNY PAL (Benta Paluwagan)/BNYPAL & Trading offers a minimum of 30% (income) in just 10 days,\u201d the SEC said. \u00a0\n\u201cThe Securities Regulation Code requires that said offer and sale of securities must be duly registered with the commission and that the concerned entity and/or its agents should have the appropriate registration and/or license to sell such securities to the public,\u201d it added.\nMeanwhile, the SEC said Pecado or P/E Capital Assetized Digital Offerings is an interactive digital investment platform that urges the public to invest in its digital assets. It also acts as a stockbroker.\nIt said Pecado is wholly owned by the US SEC registered investment advisory firm Ashtree Block Ventures LLC. It is operated by Ashtree Block Ventures UAB, which is a unit of Ashtree Block Ventures.\n\u201cWhile Ashtree Block Ventures is a registered investment advisory firm overseas, it is not registered with the commission as a corporation or as a partnership,\u201d the SEC said. \u201cHowever, an entity named Ashtree Consultancy, Inc., an affiliate firm incorporated in the Philippines, holds a service contract agreement to manage the back-office operations of Pecado.\u201d\nA company must have a license and should be registered locally before being allowed to do business in the Philippines, the SEC said. \u2014 Revin Mikhael D. Ochave", "date_published": "2024-01-02T00:03:09+08:00", "date_modified": "2024-01-01T20:37:03+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2023/05/peso-currency-1.jpg", "tags": [ "Revin Mikhael D. Ochave", "Corporate" ] } ] }