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Capitol Transfer to Balamban to Boost Economic Development
The plans to transfer the Cebu capitol from Cebu City to Balamban will change the landscape of the west coast of Cebu province into a major economic hub which will attract investments from various businesses. Jay Yuvallos, chair of the Cebu Investments Development Concierge Center (CIDCC), said the impact of the transfer of the seat […].....»»
More Filipinos now agri, biosystems engineers: DA
The Department of Agriculture is more hopeful for wider farm mechanization and livelier agribusiness industry in the country as more Filipinos have become agricultural and biosystems engineers or ABEs. In an email to the Daily Tribune, DA reported that 12,551 ABEs obtained their licenses this year, more than the 10,909 in 2021. The DA added 615 ABEs took their professional oath last 20 October. “They are not only responsible for the design of machinery and systems, but are also the pioneers of change, custodians of sustainability, and champions of modern, appropriate, and sustainable mechanization technologies and practices,” DA-Bureau of Agricultural and Fisheries Engineering Director Ariodear Rico said. Graduates from Central Bicol State University of Agriculture-Pili achieved a 100 percent passing rate, followed by the University of the Philippines-Los Baños with 92.86 percent in the ABE Licensure Examination in September. Rico said only 33.41 percent of the total 1,841 examinees passed. ABEs play vital role “The country not only needs agricultural facilities, but an adequate and competent workforce, in which ABE professionals, together with operators and technicians, play a vital role,” he said. Rico said the Marcos administration has created agricultural and fisheries development programs and trade partnerships to provide jobs to highly skilled ABEs and help ensure they stay in the country. He said on top of the list is the National Agricultural and Fishery Mechanization Program which aims to ease exchange of knowledge and drive more collaborations among engineers and the government by streamlining all mechanization policies and programs of local government units. Another is the Renewable Energy Program for Agriculture and Fishery Sector which Rico said aims to maximize the use of solar, wind, hydro, biomass and biogas energy. Through these programs, he said ABEs can further reap the economic and intellectual benefits from the Regional Comprehensive Economic Partnership Agreement or RCEP. Approved by the Senate in February, this trade deal among the ten members of the Association of Southeast Asian Nations, plus China, Japan, South Korea, Australia and New Zealand allows stronger intellectual property rights, zero to lower tariffs for Philippine exports, and more financing for small and medium businesses. ROI on farm mechanization A study by the Department of Science and Technology showed the return on investment of farm mechanization can grow by at least 238 percent. Despite this, the country has increased its mechanization level to just 2.679 horsepower per hectare (hp/ha) this year from 2.31 hp/ha. Meanwhile, global revenue from fish and seafood is projected to grow by 7 percent annually, according to global market researcher Statista. It adds China has earned the highest at $88 billion revenue this year. The post More Filipinos now agri, biosystems engineers: DA appeared first on Daily Tribune......»»
EU, Phl eyes creating digital gateway pack
The European Union or EU and the Philippines are crafting a digital development program, set for launch next year to help the boost Internet speed and reach, strengthen cybersecurity, and integrate more women into the digital economy. On Thursday, the Department of Finance said the two partners, along with other countries, are creating the Digital Connectivity Global Gateway Package. “The package has key elements on capacity building, regulatory or policy support, cybersecurity, and enhanced cable connectivity,” a DoF statement said. “The package, which is being considered for launch next year, will also help address the digital gender gap in the country by empowering women in the digital economy,” the DoF added. Connectivity partnership This global partnership on digital connectivity was recently sealed during the first Global Gateway Forum hosted by European Commission President Ursula von der Leyen from 25 to 25 October in Brussels, Belgium. There were 40 government leaders who attended the forum, with Finance Secretary Benjamin Diokno representing the Philippines. Global Gateway is the EU’s largest global investment program, with funding of up to 300 billion euros to be used by partner countries from 2021 to 2027 to improve their digital, energy, and transportation infrastructure, along with health and education systems. During the forum, the EU and the Philippines signed a 60 million euros financing agreement to help the latter realize projects for climate change mitigation and digital transformation. Under its digital program, the European Commission already committed in 2021 to provide all highly populated areas of the EU’s 27 member-states with faster Internet through 5G by 2030. Less than one-third of these areas benefited from that Internet technology two years ago. Expanding use of AI The commission also aims to expand the population of the EU’s small businesses using artificial intelligence and cloud from less than half to 75 percent, and those with basic technology skills from 75 percent to 100 percent over a decade. The Department of Information and Communications Technology, or DICT, on the other hand, is developing 500 to 1,000 digitalization programs. Information and Communications Technology Secretary Mon Gutierrez said the government is doubling its efforts to realize over 10 percent of its total number of digitalization programs through public-private partnerships. Also conducted by the DICT are digital literacy campaigns for government agencies, private firms and the public to spur technological innovations and better digital policies. The post EU, Phl eyes creating digital gateway pack appeared first on Daily Tribune......»»
PBBM skips PCCI annual event’s end
President Ferdinand Marcos Jr. failed to attend the final day of the 49th Philippine Business Conference and Expo, or PBCE, sending Executive Secretary Lucas Bersamin instead. PBCE is the main assembly yearly of the country’s biggest trade group Philippine Chamber of Commerce and Industry. An incumbent president usually attends the second day of the PBCE to personally receive the business group’s resolution and suggestions on various issues. Malacañang did not give any detail on Marcos’ failure the biggest gathering of businessmen yearly. However, Vice President Sara Duterte attended the first day of the conference, in which she urged PCCI officials and members to join the Department of Education in reviewing the current senior high school system and provide valuable insights on skills matching in order to produce employable graduates. Besides the President, Trade Secretary Alfredo Pascual also did not make it which according to the Department of Trade and Industry communication’s chief, Undersecretary Kim Lokin, Pascual has not been feeling well since Wednesday. Cabinet officials, however, were in the event. They included Transportation Secretary Jaime Bautista, Information and Communications Technology Secretary Ivan John Uy, Energy Assistant Secretary Mario Marasigan and Internal Revenue Commissioner Artemio Lumagui Jr. Resolution submitted Bersamin received PCCI’s resolution, handed over by PCCI president George Barcelon and PBCE chairperson Felino Palafox. The resolution included the positions of various sectors, namely agriculture, energy and power; the environment and climate change; education and human resources development; industry and trade; ease of doing business and stability of rules and regulations; infrastructure, transport and logistics; innovation and digitalization; taxation, and tourism. Under the sectors of agriculture, energy and power, the business group urged the national government to develop a long-term plan to attain food security in agriculture and fishery through infrastructure support, technology transfer, product diversification, export enhancement, economies of scale, and adherence to the improvement of value chains and supply chains. For energy and power, the PCCI wanted the Marcos administration to ensure adequate and affordable power supply throughout the country by considering modern technology and harnessing renewable energy resources that meet the criteria of reliability and affordability. In terms of caring for the environment and climate change, PCCI officers and members also wanted the government to update and continue the execution of the National Framework Strategy on Climate Change (2010- 2022) which envisions a climate risk-resilient Philippines with healthy, safe, prosperous, and self-reliant communities and thriving and productive ecosystems. For education and human resources development, the government was urged to propel the Philippine education system to world-class status by harnessing new technologies, fostering innovation, and implementing comprehensive reforms that will prepare students for success in the digital age and the globalized world of work. Empowering businesses For industry and trade, the Marcos administration wanted to empower industries and enterprises by providing them with the necessary tools, resources, and support programs to enhance their competitiveness both in the domestic and international markets, contribute to economic growth, and promote innovation in the Philippines’ industrial and trade sectors. Furthermore, the government was also advised to provide a stable and predictable business environment by ensuring clear, consistent, and transparent regulations, streamlining and simplifying bureaucratic processes, reducing unnecessary red tape, and eliminating barriers that hinder business growth and development. Bersamin received PCCI’s resolution, handed over by PCCI president George Barcelon and PBCE chairperson Felino Palafox. Despite the ongoing Build, Better More infrastructure program, PCCI urged the government to implement a comprehensive national infrastructure, transportation and logistics master plan that outlines a long-term vision for connectivity and country-wide development. Together with the goal of urban decongestion, the strategy shall encompass the development of growth/business centers in different regions to create more employment opportunities and encourage people to relocate outside Metro Manila. The post PBBM skips PCCI annual event’s end appeared first on Daily Tribune......»»
BSP hikes rates6.5%, off-cycle
The Bangko Sentral ng Pilipinas on Thursday raised its policy rate on an off-cycle period to 6.5 percent from 6.25 percent to manage a likely inflation uptrend this year until July next year. The BSP has, thus far, raised its policy rate by 450 basis points after inflation peaked at 8.7 percent in January and re-accelerated again to 6.1 percent last month from 5.3 percent in August. The BSP move will increase borrowing costs, with new interest rates on the overnight deposit at 6 percent and lending facilities at 7 percent. BSP Governor Eli Remolona Jr. said the country’s inflation rate might settle at 4.7 percent next year, higher than the central bank’s previous target range of 2 percent to 4 percent for this year and 4.3 percent in the next. He added inflation might quicken further above 4.7 percent from July to March next year. “The balance of risks to the inflation outlook still leans significantly toward the upside, due mainly to the potential impact of higher transport charges, electricity rates, international oil prices, and minimum wage adjustments in areas outside the National Capital Region,” he explained. Limit spending With the higher interest rates, Remolona said consumers will likely limit their spending which will discourage businesses from raising prices. “The BSP’s Monetary Board recognized the need for this urgent monetary action to prevent supply-side price pressures from inducing additional second-round effects and further dislodging inflation expectations,” the BSP chief said. Remolona added the slow global economic recovery and effects of the weather disturbances from El Niño on food supply might also restrain consumption toward a moderated inflation. “Meanwhile, the effect of a weaker-than-expected global recovery as well as government measures to mitigate the effects of El Niño weather conditions could temper inflationary impulses,” he said. The BSP Monetary Board will again announce to the public on 16 November whether to change its policy rate in compliance with its normal cycle period happening every six weeks. However, Remolona already cautioned the public of likely controlled consumer spending in the medium term as the BSP expects to maintain high interest rates in the near future. Tighter settings “Looking ahead, the Monetary Board deems it necessary to keep monetary policy settings tighter for longer until inflationary expectations are better anchored and a sustained downward trend in inflation becomes evident,” he said. “We will consider another rate hike if things are worse than we thought,” Remolona continued. The BSP has raised its policy rate by 425 basis points after inflation peaked at 8.7 percent in January and re-accelerated again to 6.1 percent last month from 5.3 percent in August. The Philippine Statistics Authority attributed this to persisting higher food and fuel prices partly driven by global food trade restrictions and oil trade disruptions from the Russia-Ukraine war. Falls a little behind “In my view, I think we fell a little behind that’s the reason for this effort to catch up. We didn’t look closely enough at expectations,” Remolona said as he reflected on the BSP’s unchanged rate at its September 21 meeting. “One of them that was very striking was our consumer expectations survey which said about 92 percent think that in the next 12 months inflation will be above 4 percent, similar to expectations by firms,” the BSP chief continued. The post BSP hikes rates6.5%, off-cycle appeared first on Daily Tribune......»»
Ginggay Hontiveros-Malvar: Scaling the realms of social responsibility
There is something quite riveting about Ana Margarita “Ginggay” Hontiveros-Malvar. Her gaze direct, her rhetoric fluid, she shares stories of immersing in conflict areas, of being in Leyte post-“Yolanda” and in Marawi post-violence, and within the same conversation, of her corporate hat within the “power, banking, food, land and infrastructure sectors.” Not so much as a vein mars her refined features. If not for those eyes, which reveal a depth of thought and feeling, hers would likely be a face some might take as just another classic beauty. Then again, her relationship with similarly strong-minded women cannot be discounted. She says, from the get-go, that she would rather not talk about herself or her sisters (Risa, the senator, and Pia, the broadcast news personality). Unlike them, she took the private route, but now unwittingly finds herself in the limelight. The Aboitiz Group, for which she handles a vital role, has many exciting things to share, Ginggay says. Smiling, she proceeds to rattle off some of these pillars — in education (“to create future leaders” who are solutions-oriented), in climate action and in enterprise and jobs. “For over 35 years, we’ve delivered probably over 5,000 CSR (corporate social responsibility) projects, spread over all the business units all over the Philippines. We’ve partnered with something like 600,000 individuals and organizations and we’ve invested the amount of P5.1 billion in all these different programs. We’re trying now to reevaluate what it is that’s next for Aboitiz Foundation, and then how we can serve our stakeholders better, and what are some of the things that we want to scale. Maybe to create a bigger impact in the country, help the country more, I think is what we want to do.” In the pipeline toward this goal of creating a bigger impact on development, Aboitiz Foundation is seeking more collaboration — “more conversations between organizations that are doing a lot of work already here in the country, and probably having a stronger voice and then putting that voice out there,” she enthuses. Clearly, Ginggay is in her element in the world she inhabits — at the heart of an “old legacy conglomerate,” her words, that now sees the need to transform along with the climactic times. “I lead a department called Reputation Management. We cover brands, media, corporate communications, sustainability — the ESG (environmental, social and governance) journey for the Aboitiz Group. We provide strategy, direction, governance and then very recently, just this year, we have our CSR arm which is called Aboitiz Foundation. It was recently also placed under us. Because at the end of the day, Aboitiz Foundation is like the big ‘S’ in our ESG — it’s really all about the social impact, the social good that we want to continue,” Ginggay tells the DAILY TRIBUNE in an interview on Pairfect. Ginggay is currently vice president for Reputation Management and Sustainability at Aboitiz Equity Ventures Inc., a holding company of the Aboitiz Group. For the Aboitiz Foundation, meanwhile, she works to help “scale its impactful programs for systemic change.” The mother of two is also communications lead for the Philippines’ Private Sector Advisory Council and team leader for APEC Business Advisory Council, which are areas where the visionary leader, Aboitiz Group chief executive officer Sabin Aboitiz, holds key roles. Grateful her children are adults now, Ginggay keeps her nurturing side on overdrive with her current responsibilities. “Aboitiz is a group,” she emphasizes. “And as a family of organizations, our priority has always been about people. That’s always been our passion, whether it’s the well-being of our own employees or the well-being of communities where we have our businesses. It’s really always been about people. “We don’t feel it’s right that a business does well and then the community that it’s in doesn’t. It cannot be like that — it has to go hand in hand. So, we’ve always been like that. Very people-centric. I think what we’re trying to change now in our transformation or evolution is to see how can we use more of technology and innovation and balance it with our people-centric approach. So maybe we can be a little bit faster, be better, be more data-driven in the kinds of things that we’re doing,” she says. And has her heart always been in this kind of work — one she freely admits is demanding and sometimes even emotion-driven? “My dad was pretty laidback. And he usually let us do what we want to do as long as you know, like, please do well in school, and things like that,” Ginggay recalls. “My mom was very attentive to us and she just wanted to make sure that aside from doing well in studies, you also had to do well in something else. And then, very ingrained, I think, in our DNA, I think as a family also, is that aspect of service, whether it’s public service, or you know, just service in general — whether it’s to your community or to your family, or your immediate set of, I suppose, stakeholders. So, it’s almost been like part of my DNA or something like that, or probably my character as well.” With so much on her plate, and a daily grind that consists of steering various teams to ensure the conglomerate is moving toward its goals smoothly, Ginggay makes sure she takes time — even just 30 minutes a day, she says — disconnecting from it all and connecting with herself. “Our days are very fast — they are jam-packed with schedules, meetings, a lot of stakeholder engagement activities,” she says. “There’s a lot of collaboration also that goes on between our team and the rest of the business units in the Aboitiz Group, and then a lot of meetings as well with the board just to check in on directions and things like that. It’s very fast-paced. It’s very demanding. It takes a lot of time and I think a lot of commitment… and this is what I see from all our team leaders and team members — people are really passionate about what they do. I think that’s important.” For Ginggay, certainly, such passion is necessary to lead the company toward its goals including “delivering on communications and brand that are integral to the transformation of the group into the Philippines’ first techglomerate.” Techglomerate, she explains, “is a dream in Aboitiz Group, something that we have really been working hard on for the past few years. We kind of coined the term from ‘technology’ and ‘conglomerate,’ putting it together — and it is really about trying to be more technologically advanced but we also want to incubate exciting businesses which are more in the techspace or, say, data science. To incubate all these new companies and hopefully lead in certain industries… and I think at the end of the day we realized we have a much greater responsibility to the country.” And what’s next? “We realized that to stay ahead, we also need to transform… and I suppose that transformation should happen first and foremost at the level of the person. We’re also really focused on building a new kind of culture for the Aboitiz Group, still very much rooted in our core values of responsibility, innovation, teamwork, integrity. But now, probably trying to imbibe more of the behaviors like being more entrepreneurial, trying to be more articulate, being better storytellers, being more open to new things, being more data-driven in our decisions, you know, and a lot of other things that we’re trying to do in terms of helping to develop this new culture.” In her capacity as first vice president at Aboitiz, as well as in her other roles — senior adviser for Agripreneurship at Go Negosyo, for example — Ginggay keeps her “eye on the prize” no matter what challenges come along. This “multi-disciplined, results-oriented and multi-awarded leader,” as she is described in the Women of the Future, may prefer to keep herself below the radar, but Ginggay Hontiveros-Malvar will certainly not stay unnoticed. The post Ginggay Hontiveros-Malvar: Scaling the realms of social responsibility appeared first on Daily Tribune......»»
Regional economies slowing down — WB
The World Bank expects East Asia and Pacific economies, excluding China, to grow by 4.6 percent this year as the Philippines catches up with digitalization. The WB prediction is slower than the previous 4.9 percent estimate announced by the multinational financial institution in April. If China is included, economic growth in the region is projected to settle at five percent, the World Bank’s report from Washington said last Sunday. “This is higher than average growth projected for all other emerging market and developing economies but lower than previously projected,” the World Bank said. “The East Asia and Pacific region remains one of the fastest growing and most dynamic regions in the world, even if growth is moderating,” World Bank East Asia and Pacific vice president Manuela Ferro said. The multinational financial institution said the region might continue to face challenges in supplies of goods as more typhoons hit the region in the fourth quarter this year and climate change persists. Geopolitical tensions The World Bank added geopolitical tensions aside from the Russia-Ukraine war threatens to further hamper trade. China, the world’s second largest economy, and the US have been exchanging export bans, especially on electronic and technology products. Meanwhile, the Philippines and other Southeast Asian states are protesting against China’s aggression in the West Philippine Sea. For these reasons, the World Bank said prices of goods and services might rise, forcing central banks in the region’s developing countries to raise interest rates to prevent inflation from accelerating further. However, this means consumers might cut back spending on certain goods and services, while businesses slow operations. Borrowing costs to remain high “Therefore, borrowing costs will likely remain high, constraining room for spending and raising the risk of debt distress in some countries. Furthermore, high indebtedness, combined with rising costs of servicing debt, will weigh on private investments,” the World Bank said. For its 2024 forecast, the bank is more optimistic that the region’s economy excluding China’s will expand from 4.6 percent to 4.7 percent. “Growth in the rest of the region is expected to edge up, as recovery in global growth and easing of financial conditions offsets the impact of slowing growth in China and trade policy measures in other countries,” the World Bank said. Philippine economic growth is seen to improve to 5.9 percent next year from a 5.6 percent forecast for this year. Meanwhile, China’s economy could shrink by 4.4 percent next year from a 4.8 percent estimate for 2023 due to persisting elevated debt, tamer demand for real estate, and aging population. Sustaining high growth to require reforms “Over the medium term, sustaining high growth will require reforms to maintain industrial competitiveness, diversify trading partners, and unleash the productivity-enhancing and job-creating potential of the services sector,” Ferro said. The World Bank reported digitalization and other reforms in government services in the Philippines increased productivity of firms by 1.5 percent from 2010 to 2019. Digital technologies, for example, can spread education and health services in the provinces to ensure a bigger pool of high-skilled and energetic workers. The post Regional economies slowing down — WB appeared first on Daily Tribune......»»
Aboitiz Group bags triple Golden Arrow Awards
With a distinguished legacy spanning five generations, the Aboitiz Group remains steadfast in its commitment to fostering positive change in shaping the future as it adheres to the standards and requirements outlined in the ASEAN Corporate Governance Scorecard. This year, following the 2022 compliance period of the ACGS, Aboitiz Equity Ventures Inc. received a 4-arrow recognition after scoring 111.68 points, AEV’s highest ACGS score since the Institute of Corporate Directors inaugurated the Golden Arrow Awards in 2018. Aboitiz Power Corporation and Union Bank of the Philippines both received a 3-arrow recognition for scoring between 100 and 109 points. Consistent top performers It’s also important to note that AEV and AboitizPower have consistently been recognized as top performers in corporate governance, both here in the country and in the ASEAN region since 2013-2017 at the PSE Bell Awards. “This distinction is the result of the Aboitiz Group’s work to transform a legacy business into a hyper-innovative, diversified conglomerate that puts corporate governance and citizenship at the core of its operations. We have always believed that transparency and accountability are essential in building trust amongst our stakeholders and forging strong partnerships in order to drive change,” said Ginggay Hontiveros-Malvar, Aboitiz Group’s chief reputation and sustainability officer. AEV, the portfolio management company of the Aboitiz Group, leads investments in diverse sectors including power, banking and financial services, food, infrastructure, land, and cutting-edge fields such as data science and artificial intelligence. The Group is presently undergoing a profound transformation to establish itself as the Philippines' first "techglomerate." This innovative growth strategy, fueled by technology and a renewed entrepreneurial mindset, empowers Aboitiz to drive transformative change, shaping the future of its businesses, host communities, and the nation. The Golden Arrow Recognition serves as a testament to Aboitiz Group's unwavering commitment to upholding the highest standards of corporate governance. Aboitiz has excelled in several key areas such as compliance, sustainability, and innovation — positioning it as a frontrunner in the realm of corporate governance. This honor reflects the Group's ongoing commitment to creating value for its shareholders, stakeholders, and the broader Filipino community. Robust policies Aboitiz Group’s robust policies and procedures across every level of the organization form the bedrock of its commitment to excellence in corporate governance. Furthermore, the company's board of directors is characterized by its independence and diversity, playing a pivotal role in providing oversight and making strategic decisions aligned with the best interests of shareholders and stakeholders. Aboitiz places great emphasis on transparency, providing clear and comprehensive information regarding its financial performance, operations, and decision-making processes to ensure that shareholders and the public remain well-informed. In terms of regulatory compliance, Aboitiz is dedicated to adhering to all relevant laws, regulations, and standards related to corporate governance. The company continuously updates its policies to ensure alignment with evolving requirements. When it comes to ethical business practices, the Group's commitment to ethical conduct and integrity remains unwavering. “This award reaffirms the team’s adherence to the shared responsibility of sustainably managing the organization. This further motivates us to champion the highest corporate governance and ethical standards as we continue to grow the business,” said AboitizPower president and chief executive officer Emmanuel Rubio. “Likewise, we also exert as much effort and diligence in upholding environmental preservation and the societal good within the areas we have the privilege to serve,” he said. Corporate governance For his part, UnionBank lead independent director Roberto Manabat said, “We humbly accept this recognition as a reinforcement of the principles that guide the Bank. Our corporate governance practices reinforce the requirements of a constantly evolving business landscape. We ensure that they comply with new regulations and are ready to adopt best practices.” Aboitiz is deeply committed to sustainability and corporate social responsibility initiatives. The post Aboitiz Group bags triple Golden Arrow Awards appeared first on Daily Tribune......»»
Aboitiz Group bags triple Golden Arrow Awards
With a distinguished legacy spanning five generations, the Aboitiz Group remains steadfast in its commitment to fostering positive change in shaping the future as it adheres to the standards and requirements outlined in the ASEAN Corporate Governance Scorecard. This year, following the 2022 compliance period of the ACGS, Aboitiz Equity Ventures, Inc. received a 4-arrow recognition after scoring 111.68 points, AEV’s highest ACGS score since the Institute of Corporate Directors inaugurated the Golden Arrow Awards in 2018. Aboitiz Power Corporation and Union Bank of the Philippines both received a 3-arrow recognition for scoring between 100 and 109 points. AEV and AboitizPower have consistently been recognized as top performers in corporate governance, both here in the country and in the ASEAN region since 2013-2017 at the PSE Bell Awards. “This distinction is the result of the Aboitiz Group’s work to transform a legacy business into a hyper-innovative, diversified conglomerate that puts corporate governance and citizenship at the core of its operations. We have always believed that transparency and accountability are essential in building trust amongst our stakeholders and forging strong partnerships in order to drive change,” said Ginggay Hontiveros-Malvar, Aboitiz Group’s chief reputation and sustainability officer. AEV, the portfolio management company of the Aboitiz Group, leads investments in diverse sectors including power, banking and financial services, food, infrastructure, land and cutting-edge fields such as data science and artificial intelligence. The Group is presently undergoing a profound transformation to establish itself as the Philippines' first "techglomerate." This innovative growth strategy, fueled by technology and a renewed entrepreneurial mindset, empowers Aboitiz to drive transformative change, shaping the future of its businesses, host communities and the nation. The Golden Arrow Recognition serves as a testament to Aboitiz Group's unwavering commitment to upholding the highest standards of corporate governance. Aboitiz has excelled in several key areas such as compliance, sustainability, and innovation – positioning it as a frontrunner in the realm of corporate governance. This honor reflects the Group's ongoing commitment to creating value for its shareholders, stakeholders, and the broader Filipino community. Aboitiz Group’s robust policies and procedures across every level of the organization form the bedrock of its commitment to excellence in corporate governance. Furthermore, the company's board of directors is characterized by its independence and diversity, playing a pivotal role in providing oversight and making strategic decisions aligned with the best interests of shareholders and stakeholders. Aboitiz places great emphasis on transparency, providing clear and comprehensive information regarding its financial performance, operations, and decision-making processes to ensure that shareholders and the public remain well-informed. In terms of regulatory compliance, Aboitiz is dedicated to adhering to all relevant laws, regulations, and standards related to corporate governance. The company continuously updates its policies to ensure alignment with evolving requirements. When it comes to ethical business practices, the Group's commitment to ethical conduct and integrity remains unwavering. The company adheres to a stringent code of conduct that guides the behavior of its employees, fostering an environment of trust and integrity. “This award reaffirms the team’s adherence to the shared responsibility of sustainably managing the organization. This further motivates us to champion the highest corporate governance and ethical standards as we continue to grow the business,” said AboitizPower president and chief executive officer Emmanuel Rubio. “Likewise, we also exert as much effort and diligence in upholding environmental preservation and the societal good within the areas we have the privilege to serve.” “We humbly accept this recognition as a reinforcement of the principles that guide the Bank. Our corporate governance practices reinforce the requirements of a constantly evolving business landscape. We ensure that they comply with new regulations and are ready to adopt best practices,” said UnionBank lead independent director Roberto Manabat. Aboitiz is deeply committed to sustainability and corporate social responsibility initiatives. The company actively pursues environmental and social responsibility, demonstrating its dedication to creating a positive impact on society and the environment. The post Aboitiz Group bags triple Golden Arrow Awards appeared first on Daily Tribune......»»
Filinvest Land bonds earn top credit score, stable outlook from PhilRatings
The proposed bond issuance of full-range developer Filinvest Land Inc. (FLI) has been assigned the highest issue credit ratings and stable outlooks by the Philippine Rating Services Corporation (PhilRatings). FLI’s proposed bonds, amounting to P10 billion with a P2 billion oversubscription option, were assigned an issue credit rating of PRS Aaa. The same PRS Aaa rating was also assigned to FLI’s outstanding bonds, totaling P35.4 billion. Proceeds from these bonds will be used for capital expenditures and debt refinancing. "We are delighted to receive a PRS Aaa rating from PhilRatings for our proposed bond issuance. This rating reflects our healthy fundamentals and underscores our constant focus on growth and financial sustainability. We are grateful for PhilRatings’ trust and confidence in Filinvest Land and aim to continue building the Filipino dream through our various property developments,” said Tristan Las Marias, FLI president and chief executive officer. Obligations rated PRS Aaa (the highest rating assigned by PhilRatings) are of the highest quality with minimal credit risk. The obligor’s capacity to meet its financial commitment to the obligation is extremely strong. Each of the ratings was also assigned an Outlook of Stable. An Outlook is an indication as to the possible direction of any rating change within a one-year period and serves as a further refinement to the assigned credit rating for the guidance of investors, regulators, and the general public. A "stable outlook" means the rating will likely be unchanged in the next 12 months. According to PhilRatings, the assigned credit ratings "take into account the following key considerations: (1) FLI’s established brand name and track record, with geographically diverse real estate products and substantial land bank for future expansion; (2) its sound growth strategies; (3) its improved revenues and operating cash flow, supported by more than satisfactory liquidity and interest coverage,” among other factors. For 2023, FLI will launch condominium and housing developments in Antipolo City, Taytay, Angono, Calamba City, Tanauan City, Trece Martires City, Bacoor City, Dumaguete City, and the Island Garden City of Samal. FLI will also accelerate the development of its township projects in East Town in Cainta, Rizal; Timberland Heights in San Mateo, Rizal; Ciudad de Calamba in Calamba City, Laguna, The Wood Estates in Trece Martires City, Cavite, and Palm Estates in Bacolod City, Negros Occidental. These FLI townships will include residential, commercial, transportation, and school components to create a self-sufficient environment that considers the needs of residents and customers in mind. For malls, FLI is currently constructing Marina Town in Dumaguete City which will open by end-2023, and new malls in Filinvest Mimosa+ Leisure City and Activa Cubao which will open by end-2024. These will expand FLI’s retail portfolio by about 55,000 square meters in gross leasable area (GLA), bringing FLI’s nationwide retail GLA to 300,000 square meters. FLI is also present in the industrial park and ready-built factory leasing businesses with its Filinvest Innovation Parks in New Clark City, Tarlac, and Calamba City, Laguna. Last 19 August, FLI broke ground on the 25-hectare Filinvest Innovation Park Ciudad de Calamba, an expansion of the 50-hectare Filinvest Technology Park in Ciudad de Calamba. FIP-CDC is envisioned to become a stage for new and relevant products that will catalyze progress in the local community. The post Filinvest Land bonds earn top credit score, stable outlook from PhilRatings appeared first on Daily Tribune......»»
FedEx aids tots at fringes
FedEx Express, a subsidiary of FedEx Corp. and one of the world’s largest express transportation companies, has recently donated hygiene kits to children in Dipolog City, Zamboanga del Norte, Mindanao through collaboration with Feed the Children, an international nonprofit organization focused on addressing the needs of disadvantaged children in nine countries including the Philippines. A team of 30 FedEx volunteers came together to pack 1,500 hygiene kits containing a nail trimmer, towels, toothpaste, alcohol, toothbrush and antibacterial soap, and helped deliver the kits to Zamboanga. “For almost four decades in the Philippines, we are proud to support programs that enable positive sustainable changes for communities to thrive,” said Maribeth Espinosa, managing director, FedEx Express Philippines. “FedEx is committed to delivering for good and contributing to the social and economic needs of those less fortunate. Our goal of connecting people and possibilities worldwide goes beyond empowering businesses. We are looking to bring together businesses and customers and unite humanity to advance hope, opportunity, and change.” Children from the most vulnerable communities face an increased risk of contracting hand, foot, and mouth disease (HFMD) caused by poor hygiene practices. Providing hygiene kits is one of many ways to address the situation and help families combat life-threatening diseases and illnesses. The initiative is part of the FedEx Cares global community engagement program. The post FedEx aids tots at fringes appeared first on Daily Tribune......»»
Belmonte calls for reforms in BFP-QCFD
Quezon City Mayor Joy Belmonte on Monday called on the Bureau of Fire Protection to undertake reforms in the BFP - Quezon City Fire District (QCFD). Belmonte made the call as results of the probe conducted by the city government and the Quezon City Council revealed lax inspection, backlog in the examination of businesses, and other lapses in the performance of the BFP-QCFD. "The BFP should look into how the BFP-QCFD fulfilled its mandate in the light of tragic loss of lives and properties due to recent fires in the city. Were the BFP-QCFD leadership remiss in their duties? They should hold their personnel accountable if proven guilty of inefficiency," she said. Belmonte earlier sought the relief of two officials from the BFP-QCFD following a review of the performance of the agency prompted by the tragic loss of lives caused by the fire last 31 August in Tandang Sora. An evaluation conducted by the city government of each fire incident that occurred this year showed on average, more damage, injury, and death compared to the previous year. “The capability and effectiveness of the BFP-QCFD in responding to these fires have lessened significantly. The city government recognizes that each fire has its own distinct volatile circumstances. Nonetheless, the severity of this year's incidents necessitates a call for a change in the leadership of the agency. A change is needed for the welfare of our citizens. We look forward to a better performance from the BFP," Belmonte said. The two officials were identified as BFP-QCFD fire marshall, Fire Senior Superintendent Aristotle Bañaga, and the chief of the QCFD Fire Prevention Branch, Fire Chief Inspector Dominic Salvacion. Data from the BFP revealed that from January to August 2023, there were 153 fires recorded in the city, while there were only 219 fires from January to December 2022. With a third of the year left, there have already been eight firefighters and 63 civilians injured compared to only two firefighters and 60 civilians for the entirety of last year. Moreover, there were already 24 deaths in the first eight months of this year while there were 30 from January to December 2022. There were 8,362 individuals or 2,380 families affected by the fires up to August this year, higher than the whole of last year’s record of 7,295 individuals or 2,005 families. “For this reason and to protect the people of Quezon City, I am calling upon the national leadership of the Bureau of Fire Protection to assign to us a new fire marshall for the QCFD and a new inspection head,” Belmonte added. Belmonte also called on the BFP to be more transparent in their own investigation of the Tandang Sora fire. “The BFP has failed to reciprocate the city government’s efforts to exercise transparency. They resisted our calls to be apprised of the progress of their own probe, or to our requests for coordination. We therefore ask the BFP to cooperate fully with the city government as mandated by law, to ensure full transparency and clarity in these investigations. Our people demand more, and the victims and their families deserve nothing less,” Belmonte said. Belmonte earlier ordered the City Legal Department to form a Special Panel of Investigators to probe the incident and if warranted by evidence, to file the appropriate case(s) against pertinent and surviving officers of the business establishment involved in the deadly fire in Tandang Sora. Local government personnel found to be liable after the conduct of the investigation will likewise face administrative and criminal charges. “The city government continues to thoroughly investigate the devastating fire of August 31. It has coordinated with and interviewed its departments, the barangay, the homeowners association, the relatives of the victims, and the survivors, to ascertain the circumstances that brought about this tragedy. We will leave no stone unturned, and we will not spare even our own officials and personnel,” the mayor added. The mayor assured the residents that the city government will continue to beef up the city’s fire prevention measures and efforts. On 14 September, Mayor Belmonte extended financial assistance to the families of the fire victims. Earlier, the city government helped arrange for the cremation of the remains of the victims, among others. The post Belmonte calls for reforms in BFP-QCFD appeared first on Daily Tribune......»»
Climate change ‘dystopian future already here’: UN rights chief
Climate change is sparking human rights emergencies in numerous countries, the UN rights chief said Monday, stressing the need to fight the impunity of those who "plunder our environment". Speaking before the United Nations Human Rights Council, Volker Turk pointed to recent examples of the "environmental horror that is our global planetary crisis". He described visiting Basra, Iraq, where date palms once lined canals, but now "drought, searing heat, extreme pollution and fast-depleting supplies of fresh water are creating barren landscapes of rubble and dust". "This spiraling damage is a human rights emergency for Iraq, and many other countries," he said in his address opening the 54th council session in Geneva. "Climate change is pushing millions of people into famine. It is destroying hopes, opportunities, homes and lives. In recent months, urgent warnings have become lethal realities again and again all around the world," Turk said. "We do not need more warnings. The dystopian future is already here. We need urgent action now." Turk was speaking after the G20 at the weekend failed to commit to a phase-out of fossil fuels, something he said was desperately needed. - 'Nonchalance' at migrant deaths - At a time when the ravages of climate change are forcing more and more people to leave their homes, the UN High Commissioner for Human Rights said he was "shocked by the nonchalance" seen towards surging numbers of migrant deaths. "It is evident that far more migrants and refugees are dying, unnoticed," he said, pointing to the more than "2,300 people reported dead or missing in the Mediterranean this year, including the loss of more than 600 lives in a single shipwreck off Greece in June." He also highlighted migrant deaths in the English Channel, the Bay of Bengal, in the Caribbean, along the US-Mexican border, and at the Saudi border, where he said his "office is seeking urgent clarification about allegations of killings and mistreatment". The UN rights chief also highlighted a wide range of other concerning situations around the world, including in Russia, Pakistan and the Palestinian territory. On China, he reiterated concerns raised in a report by his office a year ago about the situation in the far-western Xinjiang region, which cited possible crimes against humanity against Uyghurs and other Muslim minorities. "As my Office highlighted a year ago, the concerns in the Xinjiang ... requires strong remedial action by the authorities," Turk said Monday, also voicing concern at "continued detention of human rights advocates". - 'Ecocide' - Turk also spoke about the situation in Lebanon, decrying a total lack of accountability for the 2020 Beirut port blast, that killed more than 220 people, urging "an international fact-finding mission to look into human rights violations related to this tragedy." And he mentioned the situation in Iran, one year after the death of Mahsa Amini in custody after her arrest for allegedly breaching the strict dress code for women. Turk voiced concern at a bill that would impose harsher penalties for breaching the dress code, and "renewed deployment of the morality police." Climate change and environmental degradation played a role in a number of the rights situations he mentioned, including in Africa's Sahel region. Turk insisted on the need to "counter the impunity of people and businesses who severely plunder our environment", welcoming a proposal to recognize "ecocide" as an international crime. Amid the towering problems facing the world, Turk decried "politics of deception". "Helped by new technologies, lies and disinformation are mass-produced to sow chaos, to confuse, and ultimately to deny reality and ensure no action will be taken that could endanger the interests of entrenched elites," he said. "The most apparent case of this is climate change." nl/apo/yad © Agence France-Presse The post Climate change ‘dystopian future already here’: UN rights chief appeared first on Daily Tribune......»»
Gov’t, businesses told to adopt AI boom
The government and private sector need to collaboratively launch a nationwide effort to push for the adoption of science-backed artificial intelligence or AI to help communities and businesses keep up with the rapid technological advancement. In an interview with reporters last Friday, Dr. Sanjay Sarma, CEO, president, and dean of the Asia School of Business or ASB, reiterated that AI is developing at an unprecedented pace and will be everywhere soon. “AI can potentially replace jobs so let’s accept that. The Philippines should become the country that leads the world in how to use AI, in call centers, for instance,” Sarma told reporters. “Here in the Philippines, it has to be a national effort. The government needs to be cognizant that this is an epic moment. It's like, you know, climate change is going to damage the environment, it will hurt a lot of people. This is technology change is just like climate change,” he said. Unlike other technologies such as automated teller machines or ATMs, which took about 15 years to be widely accepted, AI is a development that needs urgent adoption. Like ATMs, which previously raised concerns about replacing the job of bank tellers, AI will help industries develop further. “Bank tellers did not lose their jobs. Bank tellers did something more advanced, which is selling mortgages and things like that. The job changed because of technology,” he explained. Thus, in blending in with the changes brought about by AI, Sarma proposed that local industries like the business process outsourcing sector should upgrade more into becoming a technology space. “At this level, you have to go up because the attack comes from below. It's like a tiger, you know, it's chasing you, You climb a tree, and the tiger learns to climb the first 10 feet, well, you have to climb higher. So you have to go higher up in the cognitive stock to go higher,” he said. To complement the benefits of AI, Sarma noted that the local service industry workers, for instance, have to do the things that technology cannot. “For example, this Chat GPT cannot negotiate with you, can't do any planning, can't do dispute resolution. It can't calm an angry customer. So you have to figure out what the technology can do and what humans can do, that the technology can't. And you're to develop human capital in those directions.” Sarma is a professor of mechanical engineering and the Sloan School of Management at the Massachusetts Institute of Technology. He is a leading authority in AI, the Internet of Things, and Education. ASB, established in 2015 by Bank Negara Malaysia in collaboration with MIT Sloan School of Management, aims to be a premier business school that develops transformative and principled leaders who will contribute to the advancement of the emerging world, particularly in Asia. Last July, Surigao del Norte Rep. Robert Ace Barbers asked the Congress and Palace to consider creating an agency that will oversee responsible AI use in the country. Barbers cited that at least 520,000 employees across different industries may be affected by the integration of AI. In March, he filed a bill eyeing to create the Artificial Intelligence Development Authority, which will serve as an AI monitoring body tasked to supervise the “development and deployment of AI technologies.” Primarily, it will ensure compliance with AI ethics principles and guidelines and protect the “rights and welfare of individuals and communities affected by AI technologies.” The post Gov’t, businesses told to adopt AI boom appeared first on Daily Tribune......»»
ERRAMON Aboitiz: Renaissance man
The Aboitiz family is a big player in Philippine business for over a century. With businesses covering a wide range of industries, including power, banking, food, and infrastructure, the clan’s Aboitiz Group has been creating jobs and opportunities for Filipinos. Founded by Paulino Aboitiz, son of a Spanish farmer who migrated to the Philippines in the late 1800s, Aboitiz Equity Ventures Inc., or AEV, has grown from being an abaca-trading and general-merchandise business to a conglomerate with interests in power, banking, food, property, biofuel and construction. The group is undergoing its Great Transformation to establish itself as the Philippines’ pioneering techglomerate. This innovative growth strategy, powered by technology and a renewed entrepreneurial mindset, empowers the entire group to advance businesses and uplift communities. Among the driving forces propelling the Group’s business revolution is Erramon “Montxu” Aboitiz. Montxu previously served as the president and chief executive at Aboitiz Equity Ventures for 10 years from 2009 to 2019. He also briefly held the role of CEO at Aboitiz Power Corp. in 2018. Presently, he serves as a director at AEV and Endeavor Philippines and as chairman of the Board of Directors at Union Bank of the Philippines. Likewise, he serves as a board observer of the Aboitiz & Company. The Asian Institute of Management named Montxu as the new chairman of its Board of Trustees, effective from 1 September 2023. Montxu joined a respected group of successful business leaders who are dedicated to advancing the progress and welfare of Asia and its inhabitants. He was the 7th chairman of AIM, taking over from Peter Garrucho who held the position since 2017. Montxu graduated from Gonzaga University in Spokane, Washington, USA with a Bachelor of Science degree in Business Administration, majoring in Accounting and Finance. In 2011, he was awarded the Management Man of the Year by the Management Association of the Philippines and recognized as the Entrepreneur of the Year by Ernst & Young. Seven years after that, AIM awarded Montxu with an honorary doctorate in management. Social responsibility runs in Aboitiz blood The Aboitiz Foundation, the social responsibility arm of the Aboitiz Group, donated $10 million to AIM in 2019 — known as the Aboitiz 100th Anniversary Commitment Fund. The fund aims to bridge the local and regional gap in data science and innovation. As a result of this generous donation, AIM’s Aboitiz School of Innovation, Technology, and Entrepreneurship is now able to provide top-notch education and research opportunities in data science, with a focus on practical applications. This is made possible by collaborating with data science professionals and leaders from around the world. Recently, Montxu was elected chairperson of the AIM board of trustees. He is widely recognized for his strong commitment to social responsibility and philanthropy. Regarding the endowment to AIM, Montxu said it targeted assisting AIM in its efforts “to expand its curriculum and facilities towards the direction of a bold future, and the skills and education it will require.” Through his leadership in the Aboitiz Group and the Aboitiz Foundation, he has spearheaded numerous projects that have made a positive impact on local communities. As chairman of the Aboitiz Foundation, Montxu has played a key role in shaping its initiatives. The foundation focuses on three key areas which are education, enterprise development, and environmental conservation. “As businessmen, there is no doubt we seek profits and a return on our capital. But as Filipinos, we are equally guided by a sense of purpose to find meaningful ways of contributing to our communities across the country. This symbiotic relationship of profit and contributing to society is our secret sauce to true sustainability, allowing the Aboitiz Group to drive change for a better world by advancing business and communities,” Montxu added. The foundation implemented various programs and scholarships to improve access to quality education, foster entrepreneurship and livelihood opportunities, and promote sustainability. Aboitiz Foundation has been heavily involved in rehabilitating and improving schools in underprivileged areas. They have renovated classrooms, libraries and other facilities, providing students with better learning environments. The foundation has also donated learning materials and equipment to enhance the educational experience of students. Aboitiz Foundation supports community-based programs that aim to uplift marginalized communities. These programs focus on various aspects such as health, nutrition, livelihood, and disaster resilience. The foundation works closely with local organizations and stakeholders to implement sustainable solutions and empower communities to become self-sufficient. Aboitiz Foundation places significant emphasis on environmental conservation and sustainability. They have initiated projects to protect and restore ecosystems, promote renewable energy, and reduce carbon footprint. The foundation actively supports reforestation efforts, marine conservation, and waste management initiatives. The foundation also has a strong focus on disaster response and preparedness. They have been at the forefront of providing immediate relief and support during natural disasters, such as typhoons, earthquakes and floods. The foundation also works towards building resilient communities by conducting disaster risk reduction and management training programs. Montxu Aboitiz encourages and supports employee volunteerism within the Aboitiz Group. The company promotes a culture of giving back by providing employees with opportunities to engage in community service and volunteer activities. This not only benefits the communities they serve but also fosters a sense of social responsibility among the employees. It also collaborates with various non-governmental organizations, government agencies, and other stakeholders to maximize the impact of their social responsibility initiatives. They work together to address complex social issues and implement sustainable solutions that create lasting change. Aligned with the United Nations Global Compact, AEV drives policies, advocacies, and initiatives to make a lasting impact. The post ERRAMON Aboitiz: Renaissance man appeared first on Daily Tribune......»»
Aboitiz, GCNP spotlight corporate sustainability and SDGs
In the recently held GT Capital Thought Leadership Series at the Grand Hyatt, Manila, the Aboitiz Group emphasized the fundamentals of corporate sustainability by highlighting the United Nations’ Sustainable Development Goals and the company’s alignment with the global framework. As a board member of the UN Global Compact Network Philippines, Aboitiz Equity Ventures’ FVP and chief reputation and sustainability officer Ginggay Hontiveros-Malvar presented essential strategies for enterprises to maximize their impact in fostering positive societal change and environmental stewardship. Hontiveros-Malvar cited the connection between responsible business practices and global sustainable development. The principles, communicated through voluntary reporting mechanisms, facilitate transparent communication of corporate values aligned with the 17 SDGs. “Sustainable development is a concept that focuses on meeting the needs of the present generation without compromising the ability of future generations to meet their own needs. It recognizes the interconnections between economic development, social inclusion and environmental protection,” she said. “In other words, sustainable development aims to achieve a balance between economic growth, social well-being and environmental stewardship,” she added. Hontiveros-Malvar also touched on the nation’s progress in terms of SDG integration, underscoring the necessity of coordinated efforts between government and non-government actors to optimize resource management and maximize SDG progress. “In the last few years we celebrate many businesses that have come together to create this era of action and attract others to join this global movement. May all of us continue to act responsibly, find opportunities and continue to inspire and advocate. We are united because this is bigger than just one business. We are stronger together and better together. And when we act collectively, imagine the change we can drive, and the better future we can shape as one. The possibilities are endless,” she said. Together with UN GCNP, the Aboitiz Group places utmost importance on sustainability as part of the group’s transformation into becoming the Philippines’ first “Techglomerate” by utilizing innovation, sustainable solutions and community empowerment. The post Aboitiz, GCNP spotlight corporate sustainability and SDGs appeared first on Daily Tribune......»»
Managing the tempo of technology change
In our world of financial services, relationship managers remain a critical sounding board and advisor to businesses on everything from managing financial processes to the latest cash management techniques......»»
ADB, Deutsche Bank offering SME loans
The Asian Development Bank has partnered with Deutsche Bank to fund operations of small and medium enterprises or SMEs, especially those in the pharmaceutical and agriculture industries. The two banks signed an agreement to utilize ADB’s Trade and Supply Chain Finance Program and Deutsche Bank’s funds from revenues of its global network of large corporate clients to boost working capital for SMEs. “Partnering with Deutsche Bank will allow companies, particularly SMEs, to access the global supply chain which can spur economic growth and contribute to job creation,” ADB’s Director General for Private Sector Operations Suzanne Gaboury said in a statement last Tuesday. “Together, we will help smaller companies achieve growth through better access to supply chain financing. We believe this is important, as we are seeing increasing demand for this in the trade sector,” Deutsche Bank Head of Trade Finance and Lending for Asia Pacific Matthew Moodey said. The ADB said businesses demand around $2.5 trillion to sustain operations, but SMEs remain the least supported. With its partnership with Deutsche Bank, ADB said SMEs can boost trade in Asia and the Pacific, generating additional revenues amounting to over $200 million. The bank added pharmaceutical and agriculture products and services will be high in demand as the world population expands and countries prevent another pandemic and fight climate change. The post ADB, Deutsche Bank offering SME loans appeared first on Daily Tribune......»»
‘The Special Gift’ is a special film from new filmmakers
Philippine cinema has yet to recover from the effects of the Covid-19 pandemic, but thankfully, there are new producers who are willing to gamble on new projects that try to reach the audience in a different way. RC Gomez Entertainment Productions, for instance, will tour its maiden film, The Special Gift, in schools after the special screening on 9 September and before the release, later on, in theaters and other platforms. The start-up’s founder, Roy C. Gomez, said during the recent press conference for The Special Gift that he’s a film enthusiast who has long been dreaming of putting up his own film production. He finally found the right time when, after establishing his real estate and mining businesses, he met and became friends with showbiz stalwart Lawrence Roxas. In March 2020, Gomez and Roxas — as producer and director, respectively — were set to film their first movie, which tackles the real-life heroism of teachers in the barrios, but had to change course because of the pandemic lockdown. When restrictions eased, they decided to push through with their plan, though with a different movie. The Special Gift tells the story of 10-year-old Liam Castrillo (Franchesco Maafi, nicknamed Choco), whose disinterest in studying infuriates his strict father Fernan (Mike Lloren) but is actually due to mild autism. With the help of his teachers Nico Ignacio (Migui Moreno) and Marga Castello (Ella Sheen), the misunderstood boy finds his true talent, which causes more conflict with his father. He then makes a decision that eventually leads to their reconciliation and the rebuilding of their family. Roxas, who’s making his feature film directorial debut, said he handpicked everybody in the cast because he had worked with them in various TV, movie and theater productions. Meanwhile, he found his lead actor through the recommendation of his assistant director on GMA 7. “Pag-present ng picture, ‘Ah, eto na! Pak!’ Kinuha na namin agad si Choco,” the director said, referring to the child actor who has appeared in several TV commercials (Alaska, Del Monte, Surf) and drama series (Beautiful Justice, Nakarehas na Puso, Hearts on Ice). Choco’s reaction: “Sobrang saya, very proud. Kasi nabigyan ako ng opportunity na ma-ano ko po ang role nang maayos” (Very happy, because I was given the opportunity to do my role well). Gomez happily reported that a follow-up project under his production company is already in the works with the help of other investors. It’s going to be another advocacy movie, he said. “Ganyan ang gusto kong gawin, mga family-oriented, pang-school. May mga moral values na talagang matututunan” (These are the kinds of movies I really want to make — family oriented, for schools, and with moral values to be learned). The post ‘The Special Gift’ is a special film from new filmmakers appeared first on Daily Tribune......»»
AboitizPower launches EV fleet program
Aboitiz Power Corporation recently launched its corporate electric vehicle fleet transformation program with the presentation of new plug-in EVs in an event held at the Blue Leaf Cosmopolitan in Quezon City. The launch kickstarts its support of Republic Act 11697, the Electric Vehicle Industry Development Act, as part of its contribution to greener and cleaner mobility in the country. The EVIDA mandates that at least 5 percent of industrial and commercial companies’ fleets are electronic vehicles, to bolster the use and development of EVs and reduce the local transport sector’s dependence on imported fossil fuels. “As a leader in the energy industry, we want to incorporate innovations that will improve the efficiency and sustainability of our operations. The world is facing developments in climate change, global connectivity, population growth, urbanization and digitalization, and these changes demand that businesses like ours transform to remain relevant,” said AboitizPower president and CEO Manny Rubio. “The mobility sector has always had a history of being the highest energy-consuming sector in the country. In fact, the sector accounts for 31.3 percent of total final energy consumption with over 11 million tons of oil equivalent. Globally, it is a major contributor to air pollution and greenhouse gas emissions,“ he added. “With an ever-growing demand for powered mobility, we recognize that deeper electrification of mobility is a key enabler in achieving a cleaner and more sustainable world energy system. After all, a broad range of mobility applications can be powered with electricity from cleaner or zero-emission sources.” The EVs were manufactured by Build Your Dreams and will soon be deployed to the three key cities of AboitizPower distribution utilities, namely Visayan Electric, Davao Light and Cotabato Light. “Bound to be deployed in the franchise areas we serve in Visayas and Mindanao, with land areas more than six times the size of Metro Manila, these vehicles are geared to prove their efficiency and reliability in this new age of electric mobility,” said AboitizPower Distribution Utilities COO Anton Perdices. “We aim to achieve 30 percent electrification for our four-wheeled vehicles and motorbikes by 2030 and finally transform and electrify 100 percent of the AboitizPower DU fleet by 2040.” The EV fleet transformation program reinforces the demand for cleaner energy sources and aligns with AboitizPower’s growth strategy of adding 3,700 megawatts of renewable energy — like solar, wind and geothermal — to its generation portfolio in the next 10 years. Overall, this complements the Philippines’ aspiration to reduce its heavy reliance on fossil fuel importation for transportation and electricity generation via the harnessing of cleaner and indigenous sources. Aside from reduction of emissions, it also contributes to the company’s bottom line in terms of improved energy efficiency and transportation economics, as the cost per kilometer traveled of a unit is at least half compared to internal combustion engine vehicles. “Electrifying our fleet will help us further reduce carbon emissions, lower operating costs and contribute to cleaner air in the cities where we operate. This way, we are also helping empower the evolution of the cities we serve,” Perdices said. Together with its partners, AboitizPower currently has the largest and most diversified renewable energy platform in the Philippines in terms of installed capacity under its operational control. Currently, close to 1,000 megawatts of renewable energy projects — including wind and solar farms and more geothermal capacities — are in the pipeline. The post AboitizPower launches EV fleet program appeared first on Daily Tribune......»»