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Steven Tan named Winshang’s International Influential Person in Shopping Centers
SM Supermalls president Steven Tan was recognized as one of Winshang’s Golden Censer Prize winners for being “The International Influential Person of the Year 2023 in Shopping Centers” at the 2023 China (International) Shopping Center Summit in Shanghai on 24 August. The Golden Censer Prize is a large-scale professional recognition of China’s commercial real estate and famous brands initiated by Winshang, in collaboration with mainstream industrial media, based on field research, data analysis, and media surveys among others. Tan, who assumed the role of president of SM Supermalls in 2020, has been a key figure in the growth and innovation of the mall chain in the Philippines and China. Retail legacy As President, he oversees mall operations in both countries, carrying forward SM’s 65-year legacy of retail innovation and outstanding customer service. Under his leadership, SM Supermalls withstood the challenges of the pandemic and rebounded as the economy slowly opened up amid the global health crisis. With the guidance of the Sy family, Tan made sure that SM responded with an agile, innovative, and proactive approach to cater to the needs of all stakeholders, from employees and tenants to shoppers. Mall’s strategies The mall’s strategies — adapting the tenancy mix, creating novel reasons to attract visitors to malls, targeting new customer segments through innovative marketing, and developing omnichannel services — enabled them to gain the trust and loyalty of modern shoppers during the pandemic. Because of this, SM managed to recover and exceed pre-pandemic revenues and income by 2023. In line with its latest expansion program, SM continues to open new malls in China and the Philippines. This brings the total number of shopping centers, locally and internationally, under Tan’s stewardship to 93, featuring a cumulative construction area of over 10.8 million square meters and a daily foot traffic of more than 4.2 million. The latest SM malls to open are SM City Yangzhou last 28 September 2023 (left) and SM City Sto. Tomas, Batangas last 27 October 2023 (right). The latest malls to open were SM City Yangzhou last 28 September 2023 and SM City Sto. Tomas, Batangas last 27 October 2023. Numerous accolades Tan’s exceptional efforts were also honored by various international organizations over the years. He received numerous accolades including the 2021 Asia’s Most Influential by Tatler Asia, the 2022 Asia Pacific Women’s Empowerment Principles Awards Leadership Commitment by United Nations Women, and the Global Filipino Executive of the Year at the Asian Chief Executive Officer Awards just to name a few. His dedication and visionary leadership continue to shape the landscape of shopping centers and commercial real estate, not just in Asia but across the globe. The post Steven Tan named Winshang’s International Influential Person in Shopping Centers appeared first on Daily Tribune......»»
SM’s Steven Tan named Winshang’s 2023 International Influential Person in Shopping Centers
SM Supermalls president Steven Tan was recognized as one of Winshang’s Golden Censer Prize winners for being "The International Influential Person of the Year 2023 in Shopping Centers" at the 2023 China (International) Shopping Center Summit in Shanghai on 24 August 2023. The Golden Censer Prize is a large-scale professional recognition of China's commercial real estate and famous brands initiated by Winshang, in collaboration with mainstream industrial media, based on field research, data analysis and media surveys, among others. Tan, who assumed the role of President of SM Supermalls in 2020, has been a key figure in the growth and innovation of the mall chain in the Philippines and China. As president, he oversees mall operations in both countries, carrying forward SM's 65-year legacy of retail innovation and outstanding customer service. SM Mall of Asia Complex Under his leadership, SM Supermalls withstood the challenges of the pandemic and rebounded as the economy slowly opened up amid the global health crisis. With the guidance of the Sy family, Tan made sure that SM responded with an agile, innovative and proactive approach to cater to the needs of all stakeholders, from employees and tenants to shoppers. SM City Yangzhou SM City Sto. Tomas The mall’s strategies -- adapting the tenancy mix, creating novel reasons to attract visitors to malls, targeting new customer segments through innovative marketing and developing omnichannel services -- enabled them to gain the trust and loyalty of modern shoppers during the pandemic. Because of this, SM managed to recover and exceed pre-pandemic revenues and income by 2023. In line with their latest expansion program, SM continues to open new malls in China and the Philippines. This brings the total number of shopping centers, locally and internationally, under Tan's stewardship to 93, featuring a cumulative construction area of over 10.8 million square meters and a daily foot traffic of more than 4.2 million. The latest malls to open were SM City Yangzhou last 28 September 2023 and SM City Sto Tomas, Batangas last 27 October 2023. Tan’s exceptional efforts were also honored by various international organizations over the years. He received numerous accolades including the 2021 Asia's Most Influential by Tatler Asia, the 2022 Asia Pacific Women's Empowerment Principles Awards Leadership Commitment by United Nations Women, and the Global Filipino Executive of the Year at the Asian Chief Executive Officer Awards, just to name a few. His dedication and visionary leadership continue to shape the landscape of shopping centers and commercial real estate, not just in Asia but also across the globe. Steven Tan receives the 2023 PeopleAsia People of the Year Award. Tan shared the Winshang Golden Censer Prize with his two co-awardees, namely Powerlong Real Estate Holding’s Co-president Chen Deli, and SCE Commercial Management Holdings' chairman of the board Huang Lun. SM Supermalls is a subsidiary of SM Prime Holdings Inc., with 85 malls in the Philippines and 8 in China. The post SM’s Steven Tan named Winshang’s 2023 International Influential Person in Shopping Centers appeared first on Daily Tribune......»»
Congress vows funding for Pag-asa Island development in WPS
The House of Representatives has vowed to finance the development of Pag-asa Island in the West Philippine Sea amid the intensifying geopolitical tensions between the Philippines and China. While the amount has yet to be disclosed, Speaker Martin Romualdez announced on Thursday that the funds will go to finance storm shelters for fishermen, a solar power plant, ice and cold storage facilities, a desalination plant, and satellite-based communication facilities, among others. The commitment came following a tour by Romauldez, majority leader Mannix Dalipe, minority leader Nonoy Libanan, and House committee appropriations Elizaldy Co accompanied by Armed Forces of the Philippines chief Romeo Brawner, wherein they had first-hand discussions with the island’s local folk and the armed personnel manning the country’s outpost in the West Philippine Sea. Building these critical infrastructures in Pag-asa Island, Romualdez said, will help mitigate the challenges faced by Filipino soldiers and fishermen operating in the disputed waters in the Spratly Group of Islands and to boost their military might to further safeguard the Philippine territory. “It’s clear that Pag-asa Island needs a development plan. The House of Representatives will take the lead in coming up with such a plan, being the institution responsible for the national budget and national policies that need legislation,” he said. The Speaker added that supporting local troops in the area underscores the Philippine government’s commitment to assert its sovereignty over territorial waters. Romualdez, in a late press conference on Thursday, said that the House appropriations panel will look into the necessary measures to finance the establishment of such crucial infrastructures. Back in September, deputy speaker Ralph Recto lamented that a "measly" P80 million allocation to strengthen Pag-asa Island would be insufficient to cover the development of military facilities in the said area. Recto said the national government could not just make "loud noises" in defending the WPS but must set aside a greater budget for the Pag-asa Island to help the defense sector execute its military might in the disputed area. Under the proposed P5.768 trillion national budget for 2024, the funding allocated for the improvement of military infrastructure in Pag-asa Island lobbied under the Department of Public Works and Highways' Tatag ng Imprastraktura para sa Kapayapaan at Seguridad Program or TIKAS is merely P80 million, according to the Batangas lawmaker. The post Congress vows funding for Pag-asa Island development in WPS appeared first on Daily Tribune......»»
DoE identifies offshore RE sites
The Department of Energy or DoE has identified nine potential renewable energy, or RE, sites to establish offshore wind ports that can serve as offloading terminals for a more seamless and efficient establishment of offshore wind or OSW facilities in the country. Speaking to reporters at the sidelines of an energy forum hosted by the Nordic Chamber of Commerce of the Philippines on Tuesday, Energy Assistant Secretary Mylene Capongcol said these ports will be developed to become staging areas housing the foundation, turbines, blades, and other materials that will be used in building the OSW structures. Capongcol cited Ilocos Norte, Batangas, Bacolod, Mindoro and Cagayan Valley as among the initial locations where the planned ports will be assembled. The Asian Development Bank will assist in evaluating these sites. “These are just initial identification and these nine ports are based on the project developments. They are initially identified to support and advance project constructions in these areas,” she said. To further uncover the country’s OSW potential, the DoE said “suitably sized and strategically located ports are essential for the storage, assembly, construction and operation of OSW farms.” Potential private sector partner Recently, the state-run Philippine National Oil Company disclosed that it is looking for a potential partner from the private sector to convert its 19-hectare Batangas port into an OSW Power Integration Port. It also tapped the University of the Philippines National Engineering Center to “help us because the decision not to award the contract for the commercial port expansion and shift to an offshore integration port was only last month.” The DoE has been pushing for the development of OSW to ramp up local indigenous supply amid growing demand. Based on the Philippines OSW Roadmap launched in 2022, the country has about 178 gigawatts or GW of OSW potential. OSW contracts awarded To date, the DoE has awarded a total of 79 OSW Contracts with a total potential capacity of 61.931 GW, spread mainly North of Luzon, West of Metro Manila, North and South of Mindoro, Panay, and Guimaras Strait. These, according to Capongcol, are all under the development stage, which includes preliminary wind data gathering, application for endorsements, and request for System Impact Studies. Despite the vast supply available nationwide, the OSW roadmap showed that the tedious permitting process as well as grid assets availability should be resolved. As such, the DoE vowed to enhance the policies on the OSW development, taking into account the streamlining and stricter timeframe outlined in the Energy Virtual One-Stop Shop law on the processing and issuance of licenses and permits by the concerned national and local government entities. The post DoE identifies offshore RE sites appeared first on Daily Tribune......»»
Batangas offshore wind port eyed
As part of its drive to become a strategic power industry player, state-run Philippine National Oil Company or PNOC targets to convert its 19-hectare Batangas port into an Offshore Wind or OSW Power Integration Port. At a recent budget hearing of the Senate sub-finance committee last week, PNOC president Oliver Butalid said the company is currently looking for a potential partner from the private sector to complete the proposed venture. "We are exploring going into a joint venture with a port developer, and we are discussing now with the Public-Private Partnership Center. This is going to be a dedicated integration port for OSW. I think it is responding to the need rather than perceived to be changing direction," Butalid said. He noted that PNOC has also tapped the University of the Philippines National Engineering Center to "help us because the decision not to award the contract for the commercial port expansion and shift to an offshore integration port was only last month." Meanwhile, Senator Sherwin Gatchalia, vice-chairman of the Senate Committee on Energy, said that PNOC should ensure that the project would be feasible to justify using taxpayers' money for the undertaking. "I respect your corporate decision, but then I will be looking at what you have achieved after one year (because I )am accountable to our constituents on the money that is being spent on all these projects," the senator said. PNOC's proposed corporate budget for 2024 stands at P1.96 billion, 86 percent higher than this year's allocation, and 60 percent of which will be earmarked for the port project. Last year, PNOC remitted close to P1.7 billion pesos in dividends and about P1.2 billion in taxes to the government. Since 2010, the company has remitted a total of P21.12 billion to the national coffers. For PNOC, significantly investing in the Batangas facility will bankroll its conversion into becoming a dedicated OSW integration port from being just a general commercial port. The Department of Energy or DoE has been pushing for the development of OSW to ramp up local indigenous supply amid growing demand. As such, it vowed to enhance the policies on the development of offshore wind, taking into account the streamlining and stricter timeframe outlined in the Energy Virtual One-Stop Shop law on the processing and issuance of licenses and permits by the concerned national and local government entities. The Philippines OSW Roadmap launched last year showcases the country's potential OSW resources estimated at 178 GW. As of 22 June, the DOE has awarded 66 OSW Contracts with a total potential capacity of 53.85 gigawatts — enough to supply the country's future electricity demand. The post Batangas offshore wind port eyed appeared first on Daily Tribune......»»
GERI profits nearly P1B in H1 amid real estate boom
Buoyed by the robust performance of its real estate, rental, and hotel businesses, Global-Estate Resorts, Inc. or GERI, a subsidiary of Megaworld Corp., delivered a 17 percent growth in its first-half profits. In a stock exchange report on Tuesday, GERI disclosed that its net income during the first six months of the year reached P996 million—a significant improvement from last year’s P848 million. Likewise, net income attributable to owners during the period also increased by 13 percent to PP848-million from last year’s P748-million. Consolidated revenues, on the other hand, surged by 32 percent to P3.9 billion from P3 billion in the same period last year. According to GERI, its real estate arm, which accounted for 79 percent of its total revenues, led the entire company’s growth. From January to June, real estate sales climbed by 32 percent to P3.1 billion from last year’s P2.3 billion. Reservation sales also soared by 39 percent to P11.7 billion during the first half of the year. “Our focus on our tourism townships allowed our company to achieve remarkable growth through the first half of the year,” GERI president Monica T. Salomon said in the report. “The company’s core businesses, especially those in our destination estates, largely benefited from the increasing tourism in our country. This second half, we are determined to leverage our expertise and hope to continue capturing the increasing tourism opportunities in the sector.” Demand for GERI’s residential and commercial properties remained strong, particularly for its projects in Boracay Newcoast, Eastland Heights in Antipolo, Rizal, and Twin Lakes in Laurel, Batangas. Its newest project, the P817-million Ocean Garden Villas Cluster C in Boracay Newcoast, which was only launched earlier this year, is now 94 percent sold as of end-June. Hotel revenues, on the other hand, doubled to P308 million from last year’s P158 million due to higher occupancy and room rates as local tourism and travel recover. Leasing revenues, likewise, rose by 29 percent to P273 million from last year’s P211- million. The contribution of retail spaces to the company’s leasing income grew from the year-ago level as foot traffic and tenant sales already recovered from the slowdown. To date, GERI operates nine tourism estates and integrated lifestyle communities across the country covering more than 3,300 hectares of land. The post GERI profits nearly P1B in H1 amid real estate boom appeared first on Daily Tribune......»»
Bong Go calls for stronger government interventions in agriculture
Senator Christopher "Bong" Go urged for immediate and stronger government interventions in the agricultural sector amid concerns over the global rice market following India's ban on rice exports. In an interview after attending the groundbreaking of the new Batangas Provincial Medical Center in Tuy, Batangas on 3 August, Thursday, Go addressed fears of a rice crisis due to the exportation ban by India. "Ang importante dito ay ang ating Department of Agriculture; government intervention agad ang ating umpisahan dito," said Go. "Alam n'yo, 'di naman natin masisisi ang India. May prayoridad din po sila, may pinapakain po sila. May sarili din silang market. S'yempre, tayo, hindi nila prayoridad ang pag-export para dito sa atin,” he added. Go's call to action is a significant response to the growing concerns about India's export ban on non-basmati white rice, a move that could impact global rice markets. The senator stressed the need to focus on supporting local farmers and boosting the domestic production of rice through multiple means, such as providing drought-resistant rice seeds, more fertilizers, additional irrigation, increased training, and easy access to credit facilities with low-interest rates. "Ang mga farmers natin, karamihan po d'yan, ay walang pera po. Isang kahig, isang tuka; suportahan po natin sila para meron na rin tayong kakayahan na mag-produce po ng ating sarili," Go said. India's decision to ban rice exports has implications far beyond its borders, as the country accounts for more than 40 percent of the global rice trade. The timing of the ban is particularly unfortunate for the Philippines, as the nation is already grappling with flooded rice fields due to recent typhoons and monsoon conditions. With Vietnam, the main supplier of the Philippines' rice imports, already increasing its price, Go's call for self-reliance and strengthening of the local agricultural sector becomes even more pertinent. "Mahalaga para sa akin ang laman ng tyan ng bawat Pilipino," he said. "Dapat po ay walang magutom. Kaya magtulungan tayo. 'Wag tayong umasa sa ibang bansa. Dapat po ay maging productive tayo na bansa, lalung lalo na po, suportahan natin ang ating local farmers," Go stressed further. The post Bong Go calls for stronger government interventions in agriculture appeared first on Daily Tribune......»»
Private sector analysts predict inflation rate to dip below 5 percent
Private economists expect the country's inflation rate to ease further for the sixth consecutive month in July from the 5.4 percent inflation rate last June. A Daily Tribune poll of six (6) private sector analysts yielded a median estimate of 4.8 percent for July inflation. The Philippine Statistics Authority (PSA) is expected to unveil inflation data in the first week of August. Economists expect inflation to dip below five percent, marking the first time since April 2022, when the average headline inflation was 4.9 percent. Security Bank chief economist Robert Dan Roces and China Banking Corp. chief economist Domini Velasquez said inflation likely softened to 4.7. In an emailed commentary, Roces elaborated that the deceleration in the consumer price index (CPI) suggests a moderate level of inflation. "The favorable base effects that helped offset the increase in food prices may continue to play a role in keeping inflation in check in the short term," Roces said. For her part, Velasquez said lower utility rates offset higher food and fuel prices. She mentioned that electricity rates in all regions fell substantially from the previous month, especially in Mindanao and Batangas. Velasquez added that a stronger peso in July could have also led to the "muted" monthly inflation rate. ING Bank lead economist Nicolas Mapa, who said that headline inflation averaged 4.8 percent in July, mentioned that Bangko Sentral ng Pilipinas (BSP) would consider the data point alongside the path of inflation against developments such as the recent US Federal Reserve's hike in its subsequent decision. Philippine National Bank economist Alvin Arogo said inflation would likely to 4.9 percent in July amid the month-on-month increase due to the minimum wage hike in Metro Manila and the rise in pump prices due to Dubai crude. Arogo said the favorable base effects will continue to be the main driver for the monthly print of year-on-year price growth to be lower than four percent in the fourth quarter amid the "persistence of second-round effects." Bank of the Philippine Islands (BPI) lead economist June Neri, who said that inflation in July likely eased to 4.9 percent in July, mentioned it would fall within the two to four percent target range of the BSP by the fourth quarter. "Such a print suggests that a sub-four percent monthly print by October or November is possible and increases the chances that the BSP can keep policy rates steady for the balance of 2023," Neri said. Meanwhile, Rizal Commercial Banking Corp. chief economist Michael Ricafort said that the inflation rate for July likely slowed at 5.1 percent as the recent increase in local rice prices would also slow down the easing trend of "disinflation" at the very least. He said that the possible reduction of rice imports by the Philippines would also coincide with the adverse effects of the El Niño drought, especially from the fourth quarter of 2023 to the first quarter of 2024, potentially reducing local rice production. Ricafort added that the weather phenomenon would also lead to some uptick in local rice prices and overall inflation. However, the country's new central bank said it is still too early to declare victory in the battle to curb consumer price pressures as upside pressures on expenses remain high amid downtrend data, the country's new Speaking at a recent banking community event, BSP governor Eli Remolona said the persisting upside risks to inflation indicate the monetary authority remains open to further tightening. The country's core inflation, which primarily excludes food and fuel expenses, hit 7.4 percent in June. Last month's data declined from May's 7.7 percent to April's 7.9 percent. "Nonetheless, it's too soon to declare victory. Core inflation remains high. There are still upside risks to inflation – for example, risks in the form of El Niño and further supply shocks," Remolona said. Remolona stated that the inflation figures will factor into the analysis conducted by the Monetary Board. He added that data will play a crucial role in influencing their policy rate decision. "We will wait and see. We will analyze the data as they arrive, and that analysis will decide monetary policy down the road," the Central Bank chief mentioned. On the sidelines of the same banking event, National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said he expects inflation to continue easing in the coming months but warned that there are still risks to the outlook. Balisacan said that the current downward trend in inflation is expected to continue, but some factors could worsen it. These include rising oil prices and the impact of Typhoons Egay and Falcon on agricultural production. "We are still monitoring the situation, but we hope that the impact of the typhoon will not be too serious," Balisacan said. The post Private sector analysts predict inflation rate to dip below 5 percent appeared first on Daily Tribune......»»
Aggregation brings power
In a 5 July meeting at the Palace, Prime Energy officials presented to President Ferdinand “Bongbong” Marcos Jr. a process that would prevent the cost of electricity from zooming up amid the depleted natural gas supply. The President was convinced the proposed gas aggregation strategy Prime Energy proposed would result in stable and cheaper energy in the country. “It seems that this gas aggregator idea is the key. Again, we have work to do,” Marcos said during the meeting. At the meeting, Prime Energy presented its grand plan for the revitalization of the Malampaya natural gas field, but there would be a lag between the start of the exploration to find reserves and the development of new wells, which would be a critical period. Prime Energy indicated that it will begin drilling two deep wells in the last quarter of 2024, with additional production from the Malampaya field expected to start only by the first half of 2026. The proposed solution is to import liquefied natural gas but the high cost is the problem, meaning that consumers’ monthly power bills may spike when LNG is fed to the lineup of power plants in Batangas. Aggregation involves the blending of gas from Malampaya with imported gas, thus softening the impact of the high cost of LNG. Energy supply firm First Gen Corp. of the Lopez Group will provide the blending facility for Prime Energy through a lease deal. First Gen is currently developing an LNG and regasification terminal at its complex in Batangas City. It said the lease of its LNG terminal is part of the gas aggregation proposal that would connect to existing Malampaya gas facilities, which are now being operated by a consortium led by the Enrique Razon group’s Prime Energy. The aggregation framework would then tap the Malampaya consortium’s expertise in the natural gas market for the proposed fuel blending. Nearly all the technicians and personnel of Shell Petroleum Exploration who had been running the facility for the past 21 years were retained by the consortium. First Gen incidentally runs four gas-fired power plants with a combined capacity of 2,017 megawatts and which have been getting their supply from Malampaya for many years. The way that the partners explained their project was that it is intended to make it possible to blend currently declining volumes of indigenous Malampaya gas with imported LNG to ensure a least-cost solution for consumers, enhance energy security and provide a competitive power generation market. Such will be undertaken while exploration activities leading to the commercial development of new indigenous natural gas fields are undertaken. All these activities are in response to the national government’s urgent call for significant investments to ensure national competitiveness, according to First Gen. The Malampaya project needs to keep its share in the energy supply since it accounts for 20 percent of Luzon’s electricity needs. President Marcos signed the Renewal Agreement of Malampaya Service Contract 38 on 15 May, extending the life of the contract until February 2039. Drilling activities will cover the Camago and Malampaya East fields that are near the existing Malampaya platform. An extended contract freed at least $600 million worth of investments that will be used to drill two wells and construct subsea facilities. President Marcos’ signing of the extended deal removed the uncertainties that had saddled the project in the previous administration. It particularly silenced the opportunists who wanted to scuttle the contract and secure for their principal another deal at a huge discount. The post Aggregation brings power appeared first on Daily Tribune......»»
Angeles residents evacuated amid ‘Egay’
Angeles City, Pampanga — The local government here on Tuesday ordered the preemptive evacuation of residents living near riverbanks and creeks as part of its preparations for the coming super typhoon “Egay.” Angeles City Mayor Carmelo Lazatin Jr. said that he instructed Angeles City Disaster Risk Reduction and Management Officer chief Rudy Simeon and City Engineer Donato Dizon to lead the evacuation, stressing that it is better to be alert and prepared before any disaster happens. He also assured that in the event of an emergency, the city government — through the ACDRRMO and CEO — is ready to respond to any rescue, evacuation and clearing operations. According to Simeon, the ACDRRMO is closely monitoring the major river channels in Angeles City, the Abacan River and Sapang Balen Creek and as of the moment, no incident of overflowing and soil erosion on both sides of the riverbanks and creeks were reported. Waterflows in Sapang Balen creek and Abacan River, on the other hand, are still under normal condition. The ACDRRMO is in continuous coordination with the 33 Barangay Disaster Risk Reduction and Management Councils for any alerts in case of typhoon “Egay’s” onslaught. Meanwhile, Dizon said that his roving teams are ready to clear roads from any obstructions. Lazatin, meantime, wants to ensure everyone’s safety in the event of emergencies like strong winds toppling down certain obstructions. In other developments, at least 480 passengers are stranded in two ports of Western Visayas following the cancellation of trips due to super typhoon “Egay” and the southwest monsoon on Tuesday. Data from the Coast Guard District Western Visayas showed that 165 passengers bound for Tabuelan, Cebu were stranded at the Barcelona port in Escalante, Negros Occidental while 315 others bound for Mindoro, Romblon, and Batangas were stuck at the Caticlan Jetty port in Malay, Aklan. Canceled trips included those from ports of Estancia, Iloilo going to Sicogon/Gigantes Island; Concepcion to Tambaliza, Igbon, and Malangabang; Bancal in Carles to Gigantes Island, all in Iloilo and Ajuy port going to EB Magalona in Negros Occidental. Trips from the port of San Carlos City in Negros Occidental going to Toledo, Cebu were also suspended. The Montenegro Shipping Lines canceled its trips from Lapuz wharf going to Guimaras. Trips from Iloilo City to Bacolod City via Ocean Jet and Weesam Express were canceled except for the latter’s 11:30 a.m. schedule. The post Angeles residents evacuated amid ‘Egay’ appeared first on Daily Tribune......»»
Habagat rains to persist as TD Dodong moves outside PAR
Storm-enhanced southwest monsoon or habagat will continue to bring occasional and frequent rains in most parts of the country, said the Philippine Atmospheric, Geophysical, and Astronomical Services Administration on Saturday, 15 July. PAGASA said monsoon rains will affect Metro Manila, Cavite, Batangas, Tarlac, Pampanga, Bulacan, and Western Visayas with possible flooding or landslides in these areas possible amid scattered to widespread rains. Moderate to at times heavy rains may prevail in Cagayan Valley, Cordillera Administrative Region, Bicol Region, and the rest of Central Luzon and of CALABARZON. The rest of the country will experience isolated rains or thunderstorms caused by habagat or by localized thunderstorms. PAGASA said heavy rainfall is forecast to hit La Union and Pangasinan from Saturday night until Sunday due to Tropical Depression Dodong. The tropical depression is forecast to intensify while moving towards the West Philippine Sea. Dodong may reach the tropical storm category today near the northwestern limit of the Philippine area of responsibility region and may peak at the typhoon category on Monday. The post Habagat rains to persist as TD Dodong moves outside PAR appeared first on Daily Tribune......»»
URC to acquire Don Pedro assets amid expansion
Gokongwei-led Universal Robina Corp. will acquire the idle sugar milling machinery and equipment of Central Azucarera Don Pedro Inc., a subsidiary of Roxas Holdings Inc., to expand the capacity of its Batangas mill. URC said Tuesday that the acquisition will expand the capacity of the company’s sugar mill in Balayan, Batangas to 8,000 tons daily from the current 5,000 tons. Therefore, it will cut the time needed to expand the Balayan mill from four to two years. Help farmers Likewise, URC noted that the buyout will also let the company accommodate more sugarcane farmers at its Balayan mill to help secure a source of livelihood for them. “The farmers are currently suffering from low sugar recovery on their sugarcane deliveries due to long waiting times in the truck yard,” the URC statement read. “(It) negatively affects their profits and may drive some of them to either stop farming or shift to other low-value crops,” it said. Mill as much sugarcane URC Sugar and Renewables general manager Rene Cabati earlier said URC will mill as much sugarcane as possible from planters displaced by CADPI’s permanent shutdown. Aside from acquiring CADPI’s machinery and equipment, URC’s Balayan mill will also extend its milling season, which normally ends in April until June. The post URC to acquire Don Pedro assets amid expansion appeared first on Daily Tribune......»»
Power transmission strife probe sought
A lawmaker on Monday is seeking an investigation into the country’s series of power interruptions and electrical disturbances for the past weeks, insisting that the National Grid Corporation of the Philippines should be held liable. Senator Sherwin Gatchalian — who is also the vice-chairperson of the committee on Energy — filed Resolution 607 calling for a Senate inquiry into the series of disturbances in the country’s power transmission system “in the hope of ensuring a reliable and continuous electricity supply.” “These successive transmission system disturbances caused inconvenience to communities and losses to businesses,” said Gatchalian. “The National Grid Corporation of the Philippines as the operator of the transmission system in the country should be held to account for the root cause of these disturbances.” The senator made the call after the NGCP placed the Luzon grid under red and yellow alerts after reporting the power plant outages due to the tripping of the Bolo-Masinloc 230kV Line 2 on 8 May. He also cited that it led to the tripping of 2 units of the Masinloc Coal Power Plant which, in turn, caused a power loss of 659 megawatts in the Luzon grid. “Such disturbances brought power interruptions in the franchise areas of various distribution facilities across Luzon island,” said the senator, adding that in the Meralco franchise, in particular, more than 300,000 customers in Paco and Sta. Mesa in Manila, Caloocan, Malabon, Batangas, Antipolo in Rizal, San Pedro and Biñan in Laguna, and San Rafael and Pulilan in Bulacan were affected by the tripping activity. To recall, Meralco on 9 May reported power supply cuts due to a temporary system imbalance caused by a sudden plant outage, saying that the power supply disruption was caused by an automatic load dropping of approximately 290 MW as a result of the tripping of the Duhat-Hermosa 290kV line. On 27 April, the NGCP reported a system disturbance in the Visayas, causing a loss of 322.3 MW and power interruptions that persisted until 30 April. More than 1.5 million households were affected by the power interruptions in the islands of Panay, Guimaras and Negros. The power outages last up to 12 hours. Meanwhile, Senator JV Ejercito is seeking to review the NGCP’s franchise and assessment of its performance after receiving reports that foreign shareholders have more control of the company. “Utilities that are concerned with national security should remain with the national government, controlled by the Philippines,” Ejercito said. As this developed, more senators on Monday expressed their openness to the call to review the Congressional franchise given to the NGCP due to the recent power outages in several parts of the country. Senator Grace Poe, chair of the Senate Committee on Public Services, said that her panel is open to the review of the congressional franchise of the NGCP “as it concerns a critical need of Filipinos.” “The recurring power outages being experienced by millions of households amid the scorching months should not be the norm,” Poe said. “We must also exercise vigilance when it comes to our power lines, to ensure that electricity running from Luzon to Mindanao remains under the control of Filipinos amid security concerns raised by senators.” Senator Risa Hontiveros echoed the same sentiment, saying there is nothing wrong with the Upper Chamber if it would review the franchise of the privately-owned corporation. “Even during the previous Congress, we have started, in a way, the review of at least some provisions in the franchise because the government is not only one that has an obligation in this contract but the corporation itself,” Hontiveros said. In other developments, the Energy Regulatory Commission is already doing its part by auditing the NGCP on the completion of the transmission projects as part of the ongoing rate reset process of the grid operator, ERC chairperson Monalisa Dimalanta told Daily Tribune. Dimalanta’s remark came in response to Albay Rep. Joey Salceda’s call to ERC to use its powers under Republic Act 9511 or the NGCP franchise to mandate performance improvements in the transmission company following blackouts caused by delays and damage to the company’s transmission lines. “If you recall, NGCP’s allowable revenues are set on a 5-year cycle supposedly, but the last one happened back in 2010, which set NGCP’s allowed revenues and corresponding rates for 2011-2015,” Dimalanta said. She added that the power regulator is already “conducting the review and reset now for the past years (2016-2022) and in parallel the process to set their revenues based on forecasted expenses for 2023-2027.” Salceda tapped the ERC to conduct a performance audit on the NGCP after its supposed deadline for its major three major projects -- the Cebu-Negros-Panay connection and the Mindanao-Visayas interconnection -- that was due by August this year. With Edjen Oliquino The post Power transmission strife probe sought appeared first on Daily Tribune......»»
Tighter Batangas power plants security sought
The provincial government of Batangas on Saturday called on the Armed Forces of the Philippines to tightly watch over the power plants and natural gas facilities in Batangas that supply some 30 percent of the country’s electricity. Batangas Governor Hermilando Mandanas made the appeal amid the dry season, when the country’s power supply is at its lowest, and some areas are already experiencing outages. Batangas has several large power-generation facilities, including the 900-megawatt Calaca power station, the Santa Rita 1,000-MW combined-cycle natural gas-fired power plant, 1,200-MW Ilijan natural gas-fired combined-cycle power plant, and the soon-to-open 1,300-MW Batangas Liquefied Natural Gas Plant. Mandanas said that by protecting vital installations, such as power plants, the AFP is ensuring the continued operation of various industries that help secure the country’s economic future. He gave his input on security issues when Brig. Gen. Erwin Alea, the newly promoted commander of the Philippine Army’s 201st Infantry Brigade, paid him a courtesy call. Alea was accompanied by Lt. Col. Ernesto Teneza Jr., a battalion commander at the 201st IB, when he presented his credentials to the governor. Alea and Teneza assured that their unit will strive to promote security and economic stability in the province. They promised to exert additional effort in watching over economically sensitive locations, such as power generation facilities, industrial hubs and ports. The two officers also committed the 201st IB’s resources to provide immediate relief and rescue should any calamity, such as volcanic eruptions, earthquakes or typhoons, hit the province. Meanwhile, Mandanas said that combating insurgency is not only a job for the military, stressing the business sector also has a huge part to play in the fight by creating more job opportunities for economically challenged Batangas townsfolk. The post Tighter Batangas power plants security sought appeared first on Daily Tribune......»»
Risky exposure (1)
In a review of banks’ exposure in energy projects, undertaken by the environmental think-tank Center for Energy, Ecology and Development, conglomerate San Miguel Corporation’s energy arm SMC Global Power Corp., which maintains a host of power plants, including those using coal as fuel, received prominent space. In the discussion, the dilemma that banks face was brought to light amid their financial exposure to SMCGP that may be affected by the maneuvers of SMC and its subsidiaries to, ironically, turn around the unfavorable state of the group. It said that apart from issues of supply, local fossil fuel companies are also feeling the impact of volatile fuel prices. SMCGP, the report said, suffered P15 billion in losses in 2022 due to the rising prices of fossil fuel. In May 2022, two of SMCGP’s subsidiaries filed motions for price adjustment before the Energy Regulatory Commission due to the rising fuel costs that they claimed they could no longer bear and wanted to pass on to consumers. The motions, according to the report, have since been denied, and SMC has brought the matter up to the Court of Appeals. Following the ERC denial of the price adjustment petitions, a Bloomberg intelligence report was released finding that SMCGP risks a funding shortfall as high as $1 billion by next June. The same intelligence report also projected that SMCGP’s current coal exposure might make refinancing more difficult and more costly, as investors increasingly shun coal-fired power plants as a result of the international effort to remove polluting fossil fuel as an energy source. Last year also saw SMC withdrawing the ECC applications for the three proposed fossil gas projects in the Visayas, including a liquefied natural gas project in Negros Occidental that had originally targeted a 2022 commissioning date. Despite its already large fossil fuel portfolio, the report said SMCGP issued Series K Bonds due in 2025, Series L. Bonds due in 2028, and Series M. Bonds due in 2032 with a principal amount of P30 billion and an oversubscription option of up to P10 billion in July 2022. Part of the proceeds of these bonds are allocated for SMCGP subsidiary-owned fossil fuel projects, including the Mariveles Power Generation Corporation’s four 150 megawatt or MW circulating fluidized bed coal-fired power plant in Mariveles, Bataan and Excellent Energy Resources Inc.’s 1.3 gigawatt or GW combined-cycle LNG power plant in Barangays Ilijan and Dela Paz Proper, Batangas. Recently, however, Manila Electric Co. or Meralco announced the termination of its power supply agreements with two subsidiaries of SMCGP, Excellent Energy Resources Inc. and Masinloc Power Partners Co. Ltd. The same power supply agreements would have secured revenue for the two SMCGP power plants to be financed by these bonds. Since the contracts were terminated, these subsidiaries would have to go through the competitive selection process again, where it will be up against fossil fuel and renewable energy or RE generation projects. According to the CEED report, the banks that purchased bonds had essentially exposed themselves and their shareholders, to whom they have a fiduciary responsibility, to fossil fuel projects “at risk of stranding.” “Changing policy, economic, geopolitical, and energy landscapes in the country and around the world demand that banks and financial institutions pay closer attention to and take the necessary action to mitigate these risks and protect their shareholders.” The report indicated that important developments show the tide turning in renewable energy’s or RE’s favor locally. According to the DoE, the Green Energy auction program will hold its second round of bids in June this year. The country will auction off rights to build 3,600 megawatts or MW of new capacity to be installed in 2024, 3,600 MW in 2025, and 4,400 MW in 2026. In all, this will result in an additional 11,600 megawatts of RE on top of the 2,000 MW auctioned off last year, an unprecedented scale of development for renewables in the country. (To be continued) The post Risky exposure (1) appeared first on Daily Tribune......»»
PBA making strides in preparations for Season 46
As the PBA prepares to pitch for its July kickoff, teams are also looking for ways to gear up for Season 46 amid the Taal Volcano situation in Batangas......»»
DOT urges tourists to halt non-essential trips to Batangas high-risk towns
The Department of Tourism on Thursday encouraged tourists to postpone any tourism activity and non-essential travels to high-risk towns of Batangas amid the Taal Volcano unrest......»»
PLDT assures steady service
PLDT Group on Thursday assured customers of continued service amid fresh COVID-19 restrictions in the country, especially in the National Capital Region, Cavite, Laguna, Batangas, Rizal, Quezon and other affected provinces......»»
Taal alert level raised amid ‘increased unrest’
The alert level of Taal Volcano in Batangas was raised from 1 to 2 yesterday after weeks of “increased unrest.”.....»»
ABS-CBN launches new TV barkada to love in ‘Bagong Umaga’
A new TV barkada will inspire viewers and offer life lessons with their intertwined stories in ABS-CBN’s new series, “Bagong Umaga,” which will air starting October 26 (Monday) on A2Z channel 11, Kapamilya Channel, and Kapamilya Online Live. Follow Tony Labrusca, Barbie Imperial, Kiko Estrada, Michelle Vito, Yves Flores, and Heaven Peralejo in their journeys through life and as they discover the stories from their past that reveal their true connection with each other. Her family’s tragic past will motivate Tisay (Heaven) to become a successful journalist. Amidst the hardship, she gets support from her parents Jose (Keempee de Leon) and Monica (Nikki Valdez), her adoptive brother, Dodong (Yves) and her best friend, Angge (Michelle Vito). Ely (Tony) falls in love with her because of her outlook in life. Like Tisay, Ely also has dreams of being successful, but as a doctor so that he can take his mother, Irene (Bernadette Allyson) and sibling, Gab (Ali Abinal) away from his abusive father, Matthew (Richard Quan). However, Cai (Barbie), Ely’s best friend, will resent the budding relationship between the two and will try to keep them away from each other, even if it means using Dodong. Things become even more complicated when Otep (Kiko) tries to befriend Tisay to use her to avenge her family’s painful past. Follow the barkada as they navigate life amid the lies, envy, and anger. Find out what mysteries from their pasts will test them and eventually reveal how they are connected. Joining the six teens are premier actors Sunshine Cruz, Criz Martinez, Peewee O Hara, Glydel Mercado, and Rio Locsin. Under the production of Rizza G. Ebriega, “Bagong Umaga” offers another value laden series following the success of its previous shows, “Nang Ngumiti Ang Langit ” and “Pamilya Ko.” Don’t miss the pilot week of “Bagong Umaga” from Monday to Friday, 2:30 PM on Kapamilya Channel on cable and satellite TV (SKYcable channel 8 SD and channel 167 HD, Cablelink channel 8, G Sat Direct TV channel 22, and in most channels operated by members of Philippine Cable and Telecommunications Association). It is also available on A2Z channel 11, which is available in Metro Manila and in some parts of Cavite, Laguna, Quezon, Rizal, Bataan, Batangas, Bulacan, and Pampanga. It can also be accessed via cable TV at satellite TV nationwide. The show is also on the Kapamilya Online Live YouTube channel and the ABS-CBN Entertainment Facebook page, as well as on the iwant app or iwanttfc.com. For updates, follow @abscbnpr on Facebook, Twitter, and Instagram or visit www.abs-cbn.com/newsroom......»»