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Makati City
Friday, January 20, 2017
STILL upbeat on the domestic consumer market due to the country’s burgeoning economic growth, McDonald’s Philippines bared on Wednesday its investment of around P3.5 billion for its expansion plan this year. “We’re quite optimistic . The Philippine is growing quite faster so we want to keep pace with that...
GLOBE Telecom Inc. has allocated $750 million (P37.448 billion) for its capital expenditures for 2017 to further improve its services in major cities and the countryside for both the mobile and fixed-line segments. The amount is $250 million (P12.48 billion) less than the capital outlays last year, which was pegged...
PROPERTY developer Megaworld Corp. said its board of directors has approved the company’s debt-securities program by issuing up to P30 billion of fixed-rate bonds. The company said it will initially issue a total of P12 billion worth of dent, P8 billion of which are principal offering and P4 billion for...
AC Energy Holdings Inc. is expected to seal in the very near future another investment deal involving renewable energy (RE). The power arm of  Ayala Corp., AC Energy President John Eric Francia said, is currently working on another acquisition that would be finalized in the next few weeks. “We are in the middle...
ALTERRA Capital Partners Inc., a company in the process of renaming itself to Philab Industries Inc., said it has secured a P400-million loan from Altus Capital Corp. to be repaid within 30 months with interest rate of 15 percent per year. “The purpose of the loan is, among others, to fund working-capital...
PROPERTY developer Primex Corp. said it had prepaid all its bank obligations with Metropolitan Bank and Trust Co. and BDO Unibank Inc. early this year. Primex, together  with subsidiary Primex Realty Corp. and affiliate Primex Land Inc., has a total approved loan line of P1.8 billion. The listed firm has an...
FORMER executives of Pilipinas Shell Petroleum Corp. (PSPC) filed recently a criminal complaint against former Customs Commissioner Napoleon Morales and two more for falsely accusing them of being involved in illegal importation. Edgar Chua, former Shell country manager; Nigel Avila, former Shell country tax manager; and Shell former Vice President for...
THE Department of Environment and Natural Resources (DENR) has canceled the expired environmental compliance certificates (ECCs) issued for six development projects, including four for mining, as part of the agency’s continuing industry-wide ECC audit. Environment Secretary Regina Paz L. Lopez said the cancellation of the ECCs was meant to prevent...
ALTERRA Capital Partners Inc. on Wednesday said it filed with the Securities and Exchange Commission its registration statement for its follow-on offering of 500 million shares, the price of which will be at a deep discount from its current trading price. The company, which is in the process of renaming...
RETAIL sales of Ford Philippines improved by 33 percent in 2016, the American car brand announced on Wednesday. In a statement, the automaker said its sales last year reached 33,368 units, driven by continued strong demand for EcoSport, Everest and Ranger.  Last year, said to be the fourth-consecutive year with record sales,...
By John Bello / Correspondent PAGBILAO, Quezon—A 289-meter long tanker acting as a floating storage for the first liquefied natural gas (LNG) facility in the country has arrived, but failed to dock at the dedicated jetty of the LNG Hub Terminal in Barangay Ibabang Polo here due to problems of clearances...
PNOC-Renewables Corp. (PNOC RC) and H&WB Asia Pacific (Pte. Ltd.) Corp. are working on to develop the first tidal-energy project in the country. The ocean-power project, which will utilize Tidal In-stream Energy Conversion (Tisec) technology, will be located in H&WB’s three concession areas in San Bernardino Strait between Matnog in...
MULTINATIONALS Accenture and SAP beefed up their partnership by developing two innovative digital solutions to help oil-and-gas companies enhance their bottom line. These new offerings will bring increased downstream operating margins with mitigated risk and increased upstream production with lower costs. For one, the Connected Hydrocarbons Logistics (CHL) solution will give...
ZAMBOANGA del Norte Electric Cooperative (Zaneco) has again tapped Hedcor Bukidnon to supply the electric cooperative an additional 5 megawatts (MW) of electricity this year. Hedcor is a unit of Aboitiz Power Corp., which on Tuesday said  it has signed an additional supply agreement with Zaneco last November. With this, Zaneco...
THE Board of Investments (BOI) has approved the registration of KTM Asia Motorcycle Manufacturing Inc., a partnership between the Ayala Group and motorcycle manufacturer KTM AG, as a participant to the government’s Motor Vehicle Development Program (MVDP). The joint venture gears up to produce motorcycles in the Philippines for both...
CLOUD and data-center services provider IP Converge Data Services Inc. (IPC) will conduct a series of Salesforce University training classes for its customers. Niño Valmonte, who sits as director for marketing and digital innovations at IPC, said the training classes are designed to aid end-users, systems administrators and developers using...
THE Manila Electric Co. (Meralco) launched last week its renewable-energy subsidiary Spectrum via the unveiling of a solar gallery. The gallery, on display at the Robinsons Novaliches Trade Hall, brings forward Spectrum’s set of services and offerings via the Solar Photovoltaic (PV) system that converts sunlight into electricity to power...
XIAMEN AIR will launch new routes to the Philippines, including Fushou-Cebu and Quanzhou-Cebu this year. This is in support of Philippine Consulate General Julius Caesar A. Flores’s economic diplomacy thrusts, underscoring the sister-city partnership between Cebu and Xiamen. The Department of Foreign Affairs (DFA) said the announcement was made by Xiamen...
D AND L POLYMER and Colours Inc. (DLPC), a unit of publicly listed D and L Industries Inc., on Tuesday said it has developed a key raw material used in the Hatchimals toy sensation. The Hatchimals toy is composed of a plastic egg that contained D and L’s especially developed material...
The power-generating capacity of the power plants that San Miguel Corp. (SMC) plans to put up in predominantly Muslim provinces would be sold for as low as P3 per kilowatt-hour (kWh), much cheaper than the prevailing rates sold to electric cooperatives (ECs) in Mindanao. SMC President Ramon S. Ang said...