BusinessWorld (Philippines) articles from May 2012

BusinessWorld (Philippines) archives from May 2012

Moody's downgrades BPI.
May 31, 2012... DEBT rater Moody's Investors Service on Tuesday cut the Bank of the Philippine Islands' (BPI) credit scores, highlighting the bank's vulnerability to a government debt crisis due to its substantial holdings of government securities. Moody's,...

Bankia woes, Australia data pull down peso.
May 31, 2012... Byline: Ann Rozainne R. Gregorio THE PESO slid after climbing for two straight trading sessions as investors scampered for dollars on news of Spanish bank Bankia facing collapse and Australian retail sales declining in April. The local...

Sun Life Financial Phils. says interested in PPPs.
May 31, 2012... Byline: Ann Rozainne R. Gregorio SUN LIFE Financial Philippines is ready to participate in the government's public-private partnership (PPP) program by bankrolling some projects, its top official said. "We made a courtesy call on Pres....

PSEi dips on Greece woes, China letdown.
May 31, 2012... Byline: with AFP STOCKS closed lower yesterday, reversing three days of gains, amid continued uncertainty in the euro zone and reports that China may spend little, if at all, on pump-priming its economy. The Philippine Stock Exchange index...

BSP details new incentives under SPRB Plus.
May 31, 2012... Byline: Kathleen A. Martin LICENSING fees for putting up new bank branches will be waived for "white knights" that will invest in problematic country-side based banks, according to the central bank. "[I]ncentives to white knights have been...

COURTSIDE.
May 31, 2012... Byline: Anthony L. Cuaycong Considering how badly the Celtics played the other day, it's a wonder the final score didn't show a bigger spread. Granted, stalwarts of the green and white aren't predisposed to succumbing by 14, even on the road...

Distrito Makati opens June 1.
May 31, 2012... MAKATI CITY is unwrapping yet another huge and exciting surprise this June 1, in time to usher the celebrations for its 342nd founding anniversary. Home to the country's top business headquarters, commercial establishments, and the most prime...

Harbour Centre receives ISO certification.
May 31, 2012... HARBOUR CENTRE Port Terminal, Inc. (HCPTI) has successfully obtained its registration in the International Organization for Standardization (ISO) 9001:2008 Quality Management System (QMS). The audit procedure was led by Roy Alminanza with his...

PEOPLE.
May 31, 2012... Donald Lim named new MAP governor DR. DONALD PATRICK LIM, managing director of MRM Worldwide (Philippines) was recently inducted as new governor of the Management Association of the Philippines (MAP) for 2012. Mr. Lim replaced MAP governor...

CONSUMER GUIDE.
May 31, 2012... YakitoriQ food franchise business launched YOUR FAVORITE fried isaw (chicken and pork), maskara (chicken and pork) and chicken or pork barbecue on a stick cooked the Yakitori way will soon be offered by carts in your favorite malls. ...

BRIEFS.
May 31, 2012... Service offered SECURITY BANK has pioneered mobile financial services with its eGiftCard, facilitating funds transfers through short messaging system (SMS) and allowing recipients to cash-out at an ATM even without an ATM card. With its...

Wood-fired ovens are not just for pizza.
May 31, 2012... Byline: Camille Erika R. Sarte The Rain Tree group has expanded its restaurant family with the opening of Stella at the new Fort Bonifacio High Street Central in Taguig. The new eatery boasts of dishes cooked in wood-fired ovens and a mod...

Philippine Fashion Week Holiday 2012: Shock start, classic end.
May 31, 2012... Byline: Camille Erika R. Sarte Chris Jasler kicked off one show at Philippine Fashion Week (PFW) in such an exciting manner that it was hard to keep from asking for more last Saturday. Also featured in the show were the works of Michael...

SPECIAL FEATURE: health guide.
May 31, 2012... Byline: Anna Patricia G. Valerio While clinical trials and experiments have been conducted in the country for years, health research and development can still use a much- needed shot of confidence. Health research has gone from just a...

SPECIAL FEATURE: health guide.
May 31, 2012... Byline: Gianna B. Villavicencio NUCLEAR FAMILIES wherein both parents are income earners have become more common in Philippine society today. Regina Hechanova-Alampay, executive director at the Ateneo Center for Organization Research and...

SPECIAL FEATURE: health guide.
May 31, 2012... Byline: Victoria T. Vizcarra LIVING WITHOUT a limb calls for overwhelming physical adjustment. According to Sheila Gaffney, a senior staff therapist at Vanderbilt University Medical Center in the US, an ill-fitting prosthesis affects not...

SPECIAL FEATURE: health guide.
May 31, 2012... Byline: Eush Tayco WITH EFFORTS to increase awareness of this potentially deadly disease among the Philippine populace, hypertension is no longer under the radar. This May, the Philippines celebrated its fourth annual National Hypertension...

SPECIAL FEATURE: Who is Who: Next Generation Business Leaders.
May 31, 2012... Byline: Gianna B. Villavicencio Internal conflict, drama, and challenges at a family business may sound like the premise for a primetime telenovela. However, mixing work with family life can also provide great growth, given the right...

SPECIAL FEATURE: Who is Who: Next Generation Business Leaders.
May 31, 2012... Byline: Victoria T. Vizcarra For third-generation business leaders like Jose Concepcion III, there are many tough acts to follow. "Being from a family of entrepreneurs, I can see how an enterprising spirit can be very empowering and can be...

SPECIAL FEATURE: Who is Who: Next Generation Business Leaders.
May 31, 2012... Byline: Gianna B. Villavicencio "My father wants the best from me, and I want to continue his legacy." Kevin Tan, son of Megaworld Corporation founder Andrew Tan, epitomizes the old saying that the apple doesn't fall far from the tree....

SPECIAL FEATURE: Who is Who: Next Generation Business Leaders.
May 31, 2012... Byline: Eush Tayco Teresita Sy-Coson is vice-chairwoman of SM Investments Corp. (SMIC), the Sy family holding company and one of the leading conglomerates in the Philippines. All six of Mr. Sy's children are involved in the family business,...

SPECIAL FEATURE: Who is Who: Next Generation Business Leaders.
May 31, 2012... Byline: Eush Tayco George S.K. Ty, founder of the Metropolitan Bank and Trust Company (Metrobank), taught his children to make use of the opportunities open to them. In return, they have been successful in running different aspects of the...

SPECIAL FEATURE: Who is Who: Next Generation Business Leaders.
May 31, 2012... Byline: Gianna B. Villavicencio Yvonne Sycip Yuchengco is the sixth child of taipan Alfonso Yuchengco, founder of Rizal Commercial Banking Corporation (RCBC), Malayan Insurance Company Inc. (Malayan), and Sun Life Grepa Financial Inc....

SPECIAL FEATURE: Who is Who: Next Generation Business Leaders.
May 31, 2012... Byline: Victoria T. Vizcarra Although Chinese-Filipino mogul Lucio Tan is yet to retire, he can rest easy knowing his empire is in good hands. Not unlike his namesake, 45-year-old Lucio Khao Tan, Jr. wears many hats: Since 1997, he's sat...

SPECIAL FEATURE: Who is Who: Next Generation Business Leaders.
May 31, 2012... Byline: Victoria T. Vizcarra EARLY ON, Raul Joseph Concepcion was primed to be adept both on the factory floor and behind an executive's desk. Once he hit age 7, most of his childhood summers were spent immersed in new areas of the family...

THE VIEW FROM TAFT.
May 31, 2012... Byline: Beatriz Kaamino-Tschoepke It's the 21st century - the time of globalization and internationalization. Philippine companies, led by San Miguel Corp., Jollibee, Bench, and VMV, are increasingly operating internationally. The counting...

MOVERS, MAKERS, SHAKERS.
May 31, 2012... Byline: JJ. Calero Today when the average man is barraged with hundred of slogans and commercials a day, it gets to a point that one becomes blase. Little wonder! There are times though when a slogan comes to life and become real and makes an...

STRATEGIC PERSPECTIVE.
May 31, 2012... Byline: Rene B. Azurin Very early on in the impeachment "trial" of Chief Justice Corona, I wrote that the actual proceedings hardly mattered, that it was already a foregone conclusion that Mr. Corona would be removed from office, that at...

Eton Properties to develop housing units on PNB lot.
May 31, 2012... Byline: Franz Jonathan G. de la Fuente ETON PROPERTIES Philippines, Inc. has moved to acquire a Quezon City lot from the Philippine National Bank (PNB), which it will turn into a middle-income housing complex, a ranking official said last...

Expat influx not likely to inflate leases.
May 31, 2012... Byline: Jessica Anne D. Hermosa FOREIGNERS' DEMAND for Philippine real estate, mostly driven by the entry of business process outsourcing (BPO) firms and their expatriates, continued to grow in the first quarter but rental fees for both...

Banana farm slated to host new resort.
May 31, 2012... Byline: Carmelito Q. Francisco DAVAO CITY - Hijo Resources Corp. will spend an initial P250 million to develop a resort in Madaum, Tagum City, said Rose Bridget M. Rubi, leisure and tourism sales head of the company. Six 'casitas' or small...

Shangri-La operator to build Makati condo.
May 31, 2012... Byline: Franz Jonathan G. de la Fuente LISTED DEVELOPER Shang Properties, Inc., best known for its Shangri-La mall and hotel projects, is strengthening its residential portfolio by building another luxury condominium in Makati City. Rising...

Local outsourcing promoted.
May 31, 2012... Byline: Kim Arveen M. Patria THERE ARE several opportunities on local outsourcing enough to dissuade job seekers from seeking employment abroad, a group said yesterday. "New graduates and established professionals don't have to go abroad...

Rebidding of power plant operation set ... amid congressional probe on.
May 31, 2012... Byline: Emilia Narni J. David REBIDDING OF the operations of a power facility in Cebu has been scheduled next month, the Power Sector Assets and Liabilities Management Corp. (PSALM) said yesterday, pending a congressional probe on the sale of...

Economic, political ties to highlight UK visit.
May 31, 2012... Byline: Noemi M. Gonzales ECONOMIC AND political cooperation will highlight the scheduled official visit of President Benigno S. C. Aquino III to the United Kingdom next week, an official said yesterday. Elizabeth P. Buensuceso, Foreign...

Banks safe from euro crisis.
May 31, 2012... Byline: Marlen D. Limpag CEBU CITY - As European banks shrink balance sheets to reduce global exposure, the impact will be on volatility in financial markets and loss of funding sources of emerging market economies, said Bangko Sentral ng...

Land reform coverage lists properties.
May 31, 2012... Byline: Bettina Faye V. Roc A TOTAL of 2,870.73 hectares of land have been identified for distribution under the agrarian reform program, according to a notice published yesterday. According to the notice of coverage published by the...

Manila to back conclusion of Doha round.
May 31, 2012... Byline: Kim Arveen M. Patria THE PHILIPPINES will back calls for the speedy conclusion of the Doha round of trade negotiations in a meeting of trade ministers of the Asia- Pacific Economic Cooperation (APEC) in Russia next week, said the...

Lifting ownership cap to boost investments.
May 31, 2012... Byline: Kim Arveen M. Patria ADDITIONAL REFORMS to include lifting the foreign ownership cap are needed for the Philippines to attract more investments from the European Union, said an official yesterday, to complement benefits from the...

TAXWISE OR OTHERWISE.
May 31, 2012... Byline: Mary Jean C. Balboa Company mergers have become a viable option for business enterprises in the past several years due largely to the financial crisis and intense competition. Even competing companies have resorted to mergers to...

Crop insurance set for expansion.
May 31, 2012... Byline: Sarwell Q. Meniano TACLOBAN CITY - The new crop insurance scheme will be expanding to four national irrigation systems (NIS) in Leyte and Southern Leyte this cropping season, an official of the German Agency for International...

GT Capital reassigns P2.8B from proceeds for unit's debt.
May 31, 2012... Byline: Franz Jonathan G. de la Fuente GT CAPITAL Holdings, Inc. has reassigned a portion of the proceeds raised from its initial public offering (IPO) to fund a loan secured by its power unit, a disclosure to the local bourse showed...

First Gen buys out British Gas for $360M.
May 31, 2012... Byline: Emilia Narni J. David FIRST GEN Corp. has amassed full ownership of a subsidiary behind two gas-fired power plants in Batangas after acquiring the remaining 40% stake from the British Gas (BG) Group for $360 million, the Lopez-led...

Meralco files for tax breaks ahead of policy tightening.
May 31, 2012... Byline: Emilia Narni J. David THE POWER generation unit of distribution utility Manila Electric Co. (Meralco) hopes to bag tax breaks for a planned 600-megawatt, coal-fired power plant in Subic before the government finalizes stricter rules...

Tanduay set to increase capital stock.
May 31, 2012... Byline: Cliff Harvey C. Venzon LIQUOR MAKER Tanduay Holdings, Inc. is set to raise its capital stock fivefold to make way for future investments, an official said yesterday. "The board of Tanduay Holdings approved today the increase in the...

SL Agritech eyes more foreign marts.
May 31, 2012... Byline: Bettina Faye V. Roc HYBRID RICE seed producer SL Agritech Corp. is looking to expand its seed production abroad as well as increase export operations from the Philippines as demand continues to grow, an official said. "We are...

Moody's assigns positive outlook to PLDT, Napocor, PSALM.
May 31, 2012... Byline: Cliff Harvey C. Venzon DEBT WATCHER Moody's Investors Service has upgraded its rating outlook for a telco giant and two state-run power firms to match a revised assessment of the Philippines. Moody's said it assigned a positive...

Puregold moves to establish new unit for Subic business.
May 31, 2012... Byline: Cliff Harvey C. Venzon LISTED RETAILER Puregold Price Club, Inc. has moved to establish a new company to operate supermarkets in a freeport in Olongapo City, the company said a disclosure yesterday. "During the special meeting of...

Developer issues more shares to key stockholder.
May 31, 2012... Byline: Franz Jonathan G. de la Fuente LISTED DEVELOPER Global-Estate Resorts, Inc. has increased the number of its outstanding shares to make way for convertible warrants issued to a major stockholder, a disclosure to the local bourse showed...

Pharmacy readies expansion.
May 31, 2012... Byline: Marlen D. Limpag CEBU CITY - Three-Sixty Pharmacy is planning to add 20 more to its existing network of 60 branches in the Visayas this year just two years since the start of operations, company officials said Sunday. Of the 20...

New product studied.
May 31, 2012... TACLOBAN CITY - Manila-based Nonwoven Fabric Philippines, Inc. is in talks to supply European buyers with electronic filtration materials made prom pineapple fiber. "We have given the list of private pineapple plantations that can be potential...

Power plant readied.
May 31, 2012... CAGAYAN DE ORO - Aboitiz Power Corp.'s Hedcor, Inc. will build a 28.2- megawatt run-of-river hydroelectric facility in Kitaotao, Bukidnon within the next two years. Gregorio P. Jabonillo, Hedcor's vice-president for business development, said...

Factory lease signed.
May 31, 2012... CEBU CITY - Acoustic components manufacturer Knowles Electronics LLC has signed a lease with Science Park of the Philippines, Inc. for a five- hectare property at the Cebu Light Industrial Park (CLIP) on Mactan Island. The company, which has...

Poll glitches will not happen next year, Comelec assures.
May 31, 2012... Byline: Monica Joy O. Cantilero THE COMMISSION on Elections (Comelec) assured the House committee on suffrage and electoral reforms that problems with the precinct count optical scan (PCOS) machines used in the 2010 poll automation will not...

CA confirms Brady, bypasses envoy to Syria due to SALN.
May 31, 2012... Byline: Antonio Siegfrid O. Alegado THE COMMISSION on Appointments (CA) yesterday confirmed the appointment of a veteran diplomat as the country's ambassador to China but bypassed that of the envoy to Syria for failing to declare a real...

Petition to review tax case vs Kintanar junked.
May 31, 2012... Byline: Diane Claire J. Jiao THE COURT of Tax Appeals (CTA) has junked the petition to review the landmark tax evasion case against Gloria V. Kintanar for lack of merit. "The Court of Tax Appeals en banc has dismissed the petition for...

Philippines lags behind ASEAN neighbors in competitiveness as a.
May 31, 2012... Byline: Aubrey E. Barrameda THE PHILIPPINES is lagging behind most of its neighbors in Southeast Asia in terms of its competitiveness as a tourism destination, a recent report by the World Economic Forum (WEF) showed, citing insufficiencies...

Corona impeachment not the end of reforms, Aquino says.
May 31, 2012... Byline: Noemi M. Gonzales with Nanette L. Guadalquiver THE IMPEACHMENT of Chief Justice Renato C. Corona is not the end of the administration's bid for "systemic reforms," President Benigno S. C. Aquino III said yesterday as he stressed the...

Senate gets back to legislation, approves bills.
May 31, 2012... Byline: Antonio Siegfrid O. Alegado AFTER CONCLUDING the impeachment trial of former Chief Justice Renato C. Corona, the Senate went back to work yesterday by approving three bills on third and final reading including a proposed measure...

Proposals solicited.
May 31, 2012... THE LAND Transportation Franchising and Regulatory Board (LTFRB) has started soliciting proposals for the supply of speed-limiting devices, which are planned to be installed in buses plying through Metro Manila in a bid to curb the number of...

TV show suspended.
May 31, 2012... THE MOVIE and Television Review and Classification Board (MTRCB) yesterday slapped a three-month suspension on the public affairs show T3 Kapatid Sagot Kita airing on TV5 due to "unlawful utterances" of hosts Raffy, Erwin, and Ben Tulfo. The...

Foundations needed.
May 31, 2012... ZAMBOANGA CITY - Creating a sound economic structure is crucial in the success of the new political entity the government and the Moro Islamic Liberation Front (MILF) are trying to hammer out in the ongoing peace talks. Mario Victor F. Leonen,...

Permits denied.
May 31, 2012... PALO, LEYTE - At least 27 privately owned schools in Eastern Visayas will not be allowed by the Department of Education (DepEd) to operate this school year for failure to secure government permit required for learning centers to provide quality...

Carpio takes over as acting Chief Justice after Corona's exit.
May 31, 2012... FOLLOWING the historic ouster of former head magistrate Renato C. Corona, associate justice Antonio T. Carpio will be the acting Chief Justice of the Supreme Court (SC), until a replacement has been appointed by the President. Maria Victoria...

1st quarter uptick expected.
May 31, 2012... Byline: Judy Dannibelle T. Chua Co ANALYSTS EXPECT economic growth to have picked up in the first quarter following an exports rebound and a hike in government spending, but not to levels forecast by the government given continued global...

NFA panel favors Vietnam rice offer.
May 31, 2012... Byline: Bettina Faye V. Roc A NATIONAL Food Authority (NFA) committee has recommended sourcing the bulk of the government's rice import share from Vietnam, a senior official yesterday said. A tender for 100,000 metric tons (MT) of rice...

Companies' governance efforts recognized.
May 31, 2012... Byline: Cliff Harvey C. Venzon CORPORATE governance did not improve overall last year but more firms have been cited in an annual scorecard, the Institute of Corporate Directors (ICD) yesterday said. The ICD's latest Corporate Governance...

SEC defers implementation of new accounting standards.
May 31, 2012... IMPLEMENTATION of new rules covering corporate financial reporting has been deferred by the Securities and Exchange Commission (SEC). The regulator, following an en banc meeting last May 24, released a memorandum stating that the effectivity...

Moody's forecasts 4.8% growth; Metrobank offers 4.2-4.7% range.
May 31, 2012... Byline: Diane Claire J. Jiao THE PHILIPPINE economy could have grown by 4.8% in the first quarter on the back of increased government spending, Moody's Analytics said. "The government has stepped up spending to offset weakness in global...

PNB expects businesses to drive growth.
May 30, 2012... Byline: Ann Rozainne R. Gregorio LUCIO C. Tan-led Philippine National Bank (PNB) is positive of posting a higher income this year, with all business segments expected to drive growth. "We expect to post growth this year. Maybe a little...

Security Bank plans launch of thrift arm.
May 30, 2012... Byline: Kathleen A. Martin SECURITY BANK Corp. yesterday said it was ready to launch its thrift banking arm and only awaits the Securities and Exchange Commission's (SEC) green light. Alberto S. Villarosa, Security Bank president and chief...

Peso firms up after Moody's lifts outlook.
May 30, 2012... Byline: Ann Rozainne R. Gregorio THE PESO strengthened against the dollar for the second straight trading session yesterday on news that Moody's Investors Service had raised its outlook on the Philippines to "positive" from "stable." The...

Stocks close above 5,000 on optimism.
May 30, 2012... Byline: Franz Jonathan G. de la Fuente STOCKS rallied and closed above the 5,000 level yesterday on buoyant investor sentiment after the Philippines received an upgrade in its credit outlook while news from Greece indicated it may not have to...

CLARIFICATION.(Correction notice)
May 30, 2012... COUNTING in its subsidiaries, Allied Banking Corp.'s non-performing loan (NPL) ratio improved to 4.07% in the first quarter from 4.30% in the same period last year, while its capital adequacy ratio (CAR) rose to 18.93%. The NPL and CAR figures...

COURTSIDE.
May 30, 2012... Byline: Anthony L. Cuaycong For Thunder fans, here's the good news: There were no bowed heads in the aftermath of Game One of the National Basketball Association Western Conference finals. Even as stalwarts of the blue and white lost to the...

GIVE AND GO.
May 30, 2012... Byline: Michael Angelo S. Murillo Being an import-laden tournament much attention has been channeled to the foreign reinforcements backstopping the campaigns of the 10-team field in the season-ending PBA Governors' Cup. And if you have been...

Security plan conference set.(Conference news)
May 30, 2012... THE ATENEO Department of Political Science-Working Group on Security Sector Reform, together with the Armed Forces of the Philippines' (AFP) Office of the Deputy Chief of Staff for Operations, OJ3, will hold a two- day conference on May 30 and...

D-Link bares new cloud, network cameras.
May 30, 2012... D-LINK INTERNATIONAL Pte. Ltd. expanded its award-winning mydlink- enabled IP camera line to include the D-Link Cloud Camera (DCS-5222L) offering pan/tilt capabilities and automatic day/night viewing, and the Wireless N Day/Night Home Network...

Lamborghini inaugurates Manila dealership.
May 30, 2012... LAMBORGHINI has recently celebrated its debut in the Philippine market. In the presence of Stephan Winkelmann, president and chief executive officer of Automobili Lamborghini SpA, the new Lamborghini Manila dealership was officially...

PEOPLE.
May 30, 2012... DHL names new local country manager DHL EXPRESS recently announced the appointment of Nurhayati Abdullah ("Yati") as country manager of DHL Express Philippines. Ms. Yati brings with her solid commercial, network and management experience...

BRIEFS.
May 30, 2012... Treats offered FROM JUNE 1 to 30, show your appreciation for daddy's hard work with an overnight stay in Diamond Hotel Philippines' Superior Room for only P6,900 nett. Room package includes buffet breakfast for two, a relaxing one-hour...

ONSTAGE.
May 30, 2012... Byline: Juan Antonio Lanuza The Philippine Opera Company's production of Ang Bagong Harana has a return engagement from June 6 to 10. The show was envisioned as a "love song to our country," said Karla Gutierrez, who heads the Philippine...

Father and son reunion.
May 30, 2012... Byline: Johanna Paola D. Poblete The Calma design tandem - father Lor (Lorenzo) and son Ed - have often been described as opposites in personality and work, but despite the elder's casual warmth reflected in sculptures splashed with bold...

Westendorp, Sans" and Caballero together.
May 30, 2012... ALLIANCE FRANCAISE de Manille brings together three Spanish artists in an exhibition entitled Voyages. It assembles the works of three artists of very different personalities: the lively raconteur Juvenal Sans", the calm and elegant Betsy...