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Uy resort units chart recovery
Subsidiaries of Davao businessmen Dennis Uy resort developer PH Resorts Group Holdings Inc. said it has restructured its indebtedness with China Banking Corp., or Chinabank. The debts were streamlined through the execution of agreements for the sale, leaseback, with option to buyback certain land and improvements of its subsidiaries. The restructuring covers the property of the subsidiaries in Lapu-Lapu City, Mactan, Cebu, with an area of approximately 12.5 hectares, plus improvements. The consideration for the investment and resulting percentage of ownership are still subject to final negotiations by the Parties, which are expected to be completed within 60 days, based on the MoU. P3.1-B bridge loan The restructuring also allows the subsidiaries to repay the P3.1-billion bridge loan facility extended by Chinabank in 2018, while, at the same time, grants them continued possession and use over the property to finish the construction and development of the Emerald Bay Project. In addition, the option to buy back of the restructuring allows the subsidiaries or its nominees to reacquire the properties. Lapulapu Leisure Inc. and Lapulapu Land Corp., the two units of Resorts Group Holdings also signed a memorandum of understanding with Cebu-based property developer AppleOne Properties Inc. The MoU establishes broad parameters whereby AppleOne can make an investment in the subsidiaries, with the intention of obtaining most of the equity interest in the subsidiaries, or an asset purchase of the land and improvements of the Emerald Bay Project. The post Uy resort units chart recovery 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......»»
Bong Go helps secure ambulance for Parañaque City
Senator Bong Go, Chair of the Senate Committee on Health and vice chairperson of the Senate Committee on Finance, recently played a pivotal role in providing an ambulance for Barangay La Huerta in Parañaque City on Monday, 28 August. Several barangays have long faced challenges when it comes to emergency medical services. The absence of a dedicated ambulance often leads to delays in medical assistance, putting the lives of residents at risk in various areas of the country. Go, understanding the gravity of the situation, took it upon himself to address this pressing issue. As vice chairperson of the Senate Committee on Finance, he was instrumental in securing the necessary funds to acquire the ambulance during the Duterte administration. There are numerous benefits of having a dedicated ambulance in the barangay including faster emergency response. With an ambulance stationed in the barangay, medical teams can reach patients much quicker, thereby reducing the time it takes to get them the medical attention they need. This is particularly crucial in cases of heart attacks, strokes, and other life-threatening emergencies where immediate intervention can be the difference between life and death. The ambulance is also equipped with essential medical supplies and life-saving equipment, ensuring that patients receive the best pre-hospital care possible. Aside from the ambulance, Go supported several initiatives in the city to ensure its progress amid crisis situations. Among the projects are the rehabilitation and construction of several multipurpose buildings, and the rehabilitation of drainage in Brgy. Don Bosco, and the improvement of the Parañaque River Promenade Bridge. Furthermore, Go offered to help those in need of medical care and encouraged them to get medical assistance from the Malasakit Center at Ospital ng Parañaque. Go initiated the Malasakit Centers program in 2018 after he witnessed the struggles of financially disadvantaged Filipinos in settling their medical expenses. The program, which was institutionalized in 2019 under Republic Act No. 11463, was principally authored and sponsored by Go. On the same day, Go also conducted a relief activity for 1,000 indigent students in Brgy. Don Bosco in Parañaque City. The post Bong Go helps secure ambulance for Parañaque City appeared first on Daily Tribune......»»
Bring public health services closer
“Health is the greatest of human blessings,” according to Hippocrates, father of Modern Medicine. That is why we continue to make significant strides in improving our health system. The latest of which is the signing into law of the Regional Specialty Centers Act. As the principal sponsor and one of the authors of this measure, I am grateful to President Ferdinand Marcos, Jr., for approving and prioritizing this legislation which will help bring specialized medical care closer to Filipinos in various regions, and hopefully to the most vulnerable groups in grassroots communities. As we aim to make public health more accessible, we must continue such efforts to ensure all Filipinos get the healthcare they deserve. In line with this, the Malasakit Centers we initiated in 2018 have already provided financial medical assistance to more than seven million patients so far. There are 158 Malasakit centers established all over the country through the Malasakit Centers Act of 2019, which I principally authored and sponsored in the Senate. I have also continuously pushed for the establishment of Super Health Centers, which are medium versions of a polyclinic and improved versions of the rural health unit, to make healthcare more accessible to Filipinos even in remote areas. These centers, funded with the help of my fellow legislators and primarily implemented by the Department of Health, shall provide primary health care services in communities that also include consultation, diagnosis, and early detection of diseases. As chair of the Senate Health Committee, I must emphasize the need to bring public health services closer to the people who need them the most. The enactment of the Regional Specialty Centers Act, along with the continuing operations of Malasakit Centers and the establishment of more Super Health Centers nationwide will hopefully bridge this gap and further promote the health and well-being of Filipinos no matter where they are in the country. As a legislator and public servant, I will continue to help improve public service delivery at the grassroots to the best of my capacity so that no Filipino is neglected when it comes to availing government services they need. That is why aside from the health initiatives mentioned above, I also continue to visit communities to deliver assistance, listen to their concerns, and provide solutions to their daily struggles. We were in Laguna on August 25 to inspect the Siniloan Sports Complex which was funded through our efforts as part of our goal as chairperson of the Senate Committee on Sports to promote grassroots sports development and divert our youth from harmful vices like illegal drugs. We then inspected the Isolation Facility of the Infirmary Hospital which we supported during the Duterte administration. We also led the distribution of aid to 500 impoverished residents of Siniloan together with Vice Governor Karen Agapay, Mayor Patrick Go, Vice Mayor Carla Valderrama, and other local officials. Last weekend, I also joined fellow officials and basketball enthusiasts alike in supporting Gilas Pilipinas during the 2023 FIBA World Cup. I commend everyone who took part in ensuring the successful hosting of the FIBA World Cup here in the Philippines. We were invited as a guest speaker on 24 August at the Gender and Development Activity organized by the Provincial Council of Occidental Mindoro. We support these kinds of discussions that aim to promote equal and gender-sensitive leadership. On 23 August, I received the prestigious Apostle Arsenio Ferriol Award of Excellence for Public Service and Governance. I want to express my sincere gratitude to the Pentecostal Missionary Church of Christ (4th Watch) for this very prestigious recognition. With or without an award, I will continue my mission to serve fellow Filipinos, knowing very well that service to the people is service to God. Aside from the awarding ceremony, I also joined them yesterday for their 50th Golden Church Anniversary celebration in New Clark City, Tarlac. I also visited Navotas City on 22 August, together with Mayor John Rey Tiangco and Vice Mayor Tito Sanchez to help 1,000 senior citizens, PWDs, and indigents. We also provided additional support to 1,328 recovering fire victims who were given aid from the National Housing Authority to buy housing materials through their Emergency Housing Assistance Program that we initiated before and continue to support its implementation now. We were also instrumental in the construction of nine public school buildings in Navotas City, some of which we were able to inspect during our visit. My office also continues to assist Filipinos affected by calamities. Among those assisted were typhoon victims in various towns in Cagayan — 500 in Gonzaga; 500 residents in Aparri; 500 in Allacapan; 500 in Pamplona; 500 in Ballesteros; and 500 more in Caoayan, Ilocos Sur. More support was also provided for 35 indigents from different towns of Cotabato Province plus 110 sectoral members in Libungan town; three fire victims of Brgy. Peñaplata in Samal Island; 1,000 residents of Sibalom and almost 250 in Tobias Fornier in Antique; 1,000 beneficiaries in Polomolok, South Cotabato; 66 residents of Malolos Bulacan; 31 residents of General Tinio and 140 more in Gapan, Nueva Ecija. We also extended livelihood support to 14 indigents in Cauayan, Negros Occidental; three farmers in San Lorenzo, Guimaras; and 52 residents of Brgy. Tisa, Cebu City who were previously victims of a fire incident. They were also provided aid through DTI’s Pangkabuhayan sa Pagbangon at Ginhawa (PPG) program, which I pushed for before and continue to support now to boost the livelihood of those affected by various crises. Furthermore, I am also thankful to the President for signing the following into law: Republic Act No. 11961, which I co-authored, amending the National Cultural Heritage Act of 2009, and mandates the creation of a Philippine Registry of Heritage; RA 11958, which I co-authored, that amends RA 6948 to rationalize the disability pension provided to military veterans; and the One Town, One Product Philippines Program, which I authored and co-sponsored, to support the growth of the country’s micro, small, and medium enterprises. While we have accomplished a lot in the past few days in helping those in need and pushing for policies that would uplift the lives of fellow Filipinos, our work must not stop as long as there are more of our kababayans who rely on us for support. As public servants, let us continue to bring the government and its services closer to the people while working together so that no one is left behind toward recovery and progress. The post Bring public health services closer appeared first on Daily Tribune......»»
Bong Go continues efforts to improve public service delivery
Senator Christopher “Bong” Go remains committed to supporting economic recovery and bolstering the healthcare system in various communities. Being an adopted son of Zambales, he continues to help improve public service delivery in the province. In a speech during his visit to Olongapo City, Zambales, on Saturday, 19 August, Go reiterated his dedication to providing immediate aid to communities in need especially the poor. “Huwag po kayong magpasalamat sa akin. Parati naming naririnig ‘salamat Senator Bong Go, salamat (dating) pangulong (Rodrigo) Duterte sa mga tulong.' Sa totoo lang po, kami po ang dapat magpasalamat sa inyo dahil kami po’y mga probinsyano na binigyan n’yo po ng pagkakataon na makapagserbisyo po sa inyo. Maraming salamat po sa inyong lahat,” Go said. “Hinding-hindi ko po sasayangin ‘yung pagkakataong ibinigay ninyo sa akin, magtatrabaho po ako para sa Pilipino. Wala po akong piling oras, Lunes hanggang Linggo, umaga hanggang gabi magtatrabaho po ako para sa Pilipino sa abot ng aking makakaya,” he added. Go and his team distributed grocery packs, vitamins, masks, and snacks to 2,000 struggling residents, composed of persons with disabilities, solo parents, and transport workers, at the Rizal Triangle Multipurpose Center. The senator likewise gave away bicycles, shoes, mobile phones, watches, shirts, and basketball and volleyball balls. Meanwhile, financial support was also extended by the DSWD to assessed beneficiaries. The relief operation was in partnership with the Olongapo City local government, in coordination with Congressman Jay Khonghun and Mayor Rolen Paulino, Jr. “Ang tawag po sa kanya ay Mr. Malasakit. Alam niyo kung bakit? Kasi po yung puso niya (ay may malasakit), malapit sa tao si Senator Bong Go. At maliban po diyan, siya ang nagsulong ng mga Malasakit Centers… At gusto ko lang din ipaalam sa inyo na si Senator Bong Go po ay matagal na niya akong tinutulungan upang magkaroon tayo ng Malasakit Center dito sa hospital natin,” Paulino said in his speech, referring to ongoing efforts to establish a Malasakit Center in Olongapo in coordination with DOH. “Thank you very much po. Napakalaking tulong po ng ginagawa niyo sa amin… Siya po yung nagiging susi para marami pa tayong matulungan. Ang totoo po diyan, ang tinutulungan niya po ay hindi lang Olongapo, buong Zambales ang natutulungan ninyo,” Mayor Paulino continued. To further help alleviate the burden of poor and indigent patients, Go maintained his support for the continued operations of Malasakit Centers nationwide, including the one at President Ramon Magsaysay Memorial Hospital in Iba town. Initiated in 2018 and institutionalized under Republic Act No. 11463, which was principally authored and sponsored by Go in 2019, these centers serve as a vital bridge between the government and the people, offering streamlined access to medical assistance programs from concerned agencies, including the Department of Social Welfare and Development (DSWD), Department of Health (DOH), Philippine Health Insurance Corporation (PhilHealth), and Philippine Charity Sweepstakes Office (PCSO). Currently, there are 158 Malasakit Centers nationwide and, according to DOH, these centers have helped more than seven million Filipinos nationwide. “Ang Malasakit Center po is a one stop shop. Nasa loob na po ng ospital ang apat na ahensya ng gobyerno – PhilHealth, PCSO, DOH, DSWD na handang tumulong sa ating mga kababayan. ‘Yan po ang Malasakit Center, batas ‘yan na isinulong ko noon, pinirmahan ni dating Pangulong Duterte. One stop shop po ‘yan, lapitan n’yo lang po, para po ‘yan sa poor and indigent patients,” said Go in an interview after the event. Go's vision for a stronger healthcare sector continues through his advocacy for the establishment of more Super Health Centers (SHCs). Recognizing the importance of accessible healthcare services, especially after experiencing a global health crisis, Go has championed the cause of establishing these centers to provide primary care, early detection of diseases, and needed medical consultations to a broader range of citizens. Go cited that necessary funds have been allocated last year for DOH to construct SHCs in Iba, Botolan, and Castillejos, while another center will be established in Castillejos under the 2023 budget. The SHCs are medium versions of polyclinics and are bigger than rural health units, which offer basic services, such as database management, out-patient, birthing, isolation, isolation, diagnostic (laboratory: x-ray, ultrasound), pharmacy, and ambulatory surgical unit. Other available services are eye, ear, nose, and throat (EENT) service, oncology centers, physical therapy and rehabilitation center, and telemedicine where remote diagnosis and treatment of patients will be done. “Ang ikinaganda po nito, (pwede na) diyan na po magpapakonsulta. It will help decongest the hospital. Importante ang early detection ng sakit para hindi na lumala at hindi na kailangan dalahin sa ospital. Magpakonsulta po kayo sa Super Health Center para mabigyan kayo agad ng primary care,” Go encouraged. Through Resolution No. 205 dated 8 August 2022, the Sangguniang Panlalawigan of Zambales pronounced Go as its adopted son, noting that the senator has "embodied the spirit of good governance and public service" by exerting great efforts to help the whole province. To ensure the progress of the city, Go, vice chairperson of the Senate Committee on Finance, supported the road rehabilitation along Elicano Street East Bajac-Bajac and the improvement of drainage canals in Barangay Barretto. On the same day, Go was in Subic where he was the guest speaker during the commencement exercise of Kolehiyo ng Subic, Class Matalaghay 2023. The post Bong Go continues efforts to improve public service delivery appeared first on Daily Tribune......»»
Bong Go visits ‘egg basket of the Philippines’ to conduct relief ops
Senator Christopher "Bong" Go emphasized the paramount significance of stronger government interventions for supporting impoverished Filipinos adversely affected by various crises as he personally led a relief activity for struggling Batangueños in San Jose town on Thursday, 17 August. In 2022, former president Rodrigo Duterte approved a law declaring San Jose town in Batangas as the country's "egg basket” through Republic Act No. 11707, which recognizes the local and national "economic significance" of San Jose's egg industry. Recognizing the urgent need for support, Go for his part has tirelessly championed the cause of the most vulnerable members of society, ensuring that essential government aid reaches those who need it the most. In partnership with the local government of San Jose, the Department of Social Welfare and Development (DSWD), and the Department of Labor and Employment (DOLE), Go assisted 1,558 fellow Batanguenos at the Vanolato Realty basketball court. Go and his team provided grocery packs, masks, vitamins, and meals to each beneficiary. He likewise gave away bicycles, shoes, mobile phones, watches, shirts, and balls for basketball and volleyball to select recipients. A team from the DSWD extended financial assistance to 1,000 qualified Batangueños through its Assistance to Individuals in Crisis Situation (AICS) program, while DOLE provided livelihood support to 558 individuals through its Tulong Panghanapbuhay sa Ating Disadvantaged/Displaced Workers (TUPAD) program. “Mga kababayan ko nandirito po kami ngayong araw na ito (at) may dala lang po kaming kaunting tulong. Mayroon po akong dala mula sa aking opisina. (Bukod pa rito,) ang DSWD po mayroong programa na AICS. Kayo po ang napili na bibigyan po na mga beneficiaries ngayong araw na ito… Iba naman po ang TUPAD ng DOLE. Ito pong programang ito pansamantalang trabaho po ito,” Go said. “Ako po bilang senador ay nagsulong nito para maging benepisyaryo kayo ng mga programang ‘yan sa pakikipag-ugnayan po kay Mayor Ben Patron. Suportado ko po ang mga programa ng gobyerno tulad nito na nakakatulong sa mga mahihirap,” shared Go. Go, who is an adopted son of CALABARZON with familial roots in Batangas and Davao, likewise praised the collective efforts of all local officials, including Mayor Valentino “Ben” Patron and Vice Mayor Noel Virtucio. Barangay Ginebra San Miguel team captain Lewis Alfred "LA" Tenorio, a Batangueño, was also present during the visit. “Minsan ako ay pumunta sa kanyang opisina para hingan kayo ng tulong. Ang sagot niya sa akin, at napagalitan pa ako dahil sabi, Mayor, kahit hindi ka pumunta dito, ako ay Batangueño at bilang Batangueño, una sa puso ko ang mga taga-San Jose,” referring to Go, Mayor Patron recalled during his speech to the beneficiaries. Meanwhile, the senator, who chairs the Committee on Health and Demography in the Senate, reiterated his commitment to improving healthcare accessibility and medical services for the poor and reminded the public to take advantage of the services offered in Malasakit Centers. As a one-stop shop where poor and indigent patients can access government medical assistance, the Malasakit Center was initiated by Go in 2018 and institutionalized under Republic Act No. 11463 in 2019, a piece of legislation he principally sponsored and authored in the Senate. As attested by the Department of Health (DOH), the program has already aided over seven million patients nationwide with 158 existing Malasakit Centers all around the country. The Malasakit Centers in the province are located at the Batangas Medical Center in Batangas City and at Batangas Provincial Hospital in Lemery. In addition to his commitment to the Malasakit Center program, Go has conveyed his support to establish more Super Health Centers (SHCs) throughout the country. Under the 2022 national budget, SHCs in Batangas were funded in Ibaan, San Pascual, Agoncillo, Calatagan, Lipa City, Malvar, and Taysan. In 2023, more centers were identified to be established in the towns of San Juan, Tingloy, Lian, and San Jose. In addition, two more SHCs were funded in Lipa City. The SHC is an improved version of a rural health center and offers basic health services such as database management, out-patient, birthing, isolation, diagnostic (laboratory: x-ray and ultrasound), pharmacy, and ambulatory surgical unit. Other available services are eye, ear, nose, and throat (EENT) service, oncology centers, physical therapy and rehabilitation center, and telemedicine, through which remote diagnosis and treatment of patients are made possible. “Sa kakaikot ko po sa buong Pilipinas, marami pong lugar walang health facilities. Yung mga buntis nanganganak sa tricycle (o kaya) sa jeepney dahil napakalayo po ng ospital. Ngayon magkakaroon na ng Super Health Center at pwede po itong i-expand ni Mayor. Kaya yung mga buntis pwede nang manganak dyan,” Go cited. “Kapag meron na pong Super Health Center dito sa lugar ninyo, dyan na po pwede magpakonsulta, importante ang early detection ng diseases para hindi lumala ang sakit, at makakuha kayo ng primary care. This will help decongest the hospitals dahil dyan na po pwede na magpagamot. Malaking tulong po nun,” he continued. To help with the economic recovery of the town, Go, vice chairperson of the Senate Committee on Finance, supported the construction of multipurpose buildings, road improvements, rehabilitation of drainage facilities and water systems, and a street lighting project. On the same day, Go attended the blessing and opening of the Malaquing Tubig Bridge and inspected the ongoing road construction in Barangay Palanca going to Barangay Natunuan. As Vice Chair of the Senate Committee on Finance, Go was instrumental in securing funding for these projects. The post Bong Go visits ‘egg basket of the Philippines’ to conduct relief ops appeared first on Daily Tribune......»»
Highly-leveraged SMGP
San Miguel Corp. predictably won the Court of Appeals decision recently, reversing the Energy Regulatory Commission in its rejection of the petition of its energy arm San Miguel Global Power Corp. or SMGP’s plea for a temporary rate increase. SMGP claims P15 billion in losses from its units South Premiere Power Corp. and San Miguel Energy Corp. as a result of high fuel costs and the supply restrictions from the Malampaya natural gas project. It turns out that SMGP direly needs to be profitable since it is deep in borrowings for its projects. Data supplied to Daily Tribune by the think tank Center for Energy, Ecology and Development showed SMGP has obtained several financing arrangements, such as long-term debts and issuance of Senior Perpetual Capital Securities or SPCS and other debt instruments to facilitate the acquisition of coal-fired power plants and investments in new power plants. For the construction and expansion of coal plants, SMGP has secured the following financial transactions: January 2018, drawing P2 billion from the P44-billion Omnibus Loan and Security Agreement to finance the construction of two 150-megawatt Limay coal-fired power plants; March 2018, $700-million floating interest term loan, $400-million short-term bridge financing loans, $400-million floating interest term loan, and $650-million Redeemable Perpetual Securities for the acquisition of Masinloc Group including two 315 MW Masinloc power plant and the construction of Unit 3 and 10 MW battery energy storage project; January 2019, $35 million from its $525 million Omnibus Expansion Facility Agreement to finance the ongoing construction of the 300 MW expansion of Masinloc Power Plant; November 2019, drawing of an additional $40 million from $525 million OEFA to finance the additional 300 MW Masinloc Power Plant; July 2019, drawing of P978 million from a P2.1 billion 12-year Omnibus Loan and Security Agreement with a syndicate of local banks for the financing of the construction of the Davao Greenfield Power Plant; March 2020, drawing of an additional $43 million to finance the construction of an added 335 MW Unit-3 Masinloc Power Plant; and July 2022, allocation of up to P20 billion from the sale of P30 billion fixed rate bond with an oversubscription option of up to P10 billion. As for its liquefied natural gas-related projects, SMGP has issued debt certificates in the past three years including: October 2020 — $400 million worth of SPCS issued for 100 percent with an initial rate of 7 percent per annum. In-principle approval for the listing and quotation from Singapore Exchange Trading Ltd. December 2020 — $350 million worth of SPCS issued for 102.457 percent with an initial rate of 7 percent, and listed on the SETL; April 2021 — availment of $50 million from the October 2020 loan facility agreement for capital expenditures related to the Ilijan gas-fired power plant and its expansion, financing of LNG importation, and storage facilities, among others; June 2021 — $600 million worth of SPCS issued for 100 percent with an initial rate of 5.45 percent per annum, and listed on the SETL; September 2021 — $150 million worth of SPCS issued for 100.125 percent with an initial rate of 5.45 percent per annum, and listed on the SETL; and July 2022 — allocation of up to P24.5 billion from the sale of P30 billion fixed rate bonds with an oversubscription option of up to P10 billion. In April 2021, SMGP also availed of its $50 million from its term loan facility with a foreign bank executed in October 2020. The proceeds of this loan are intended for the payment of capital expenditures of the Ilijan plant, funding of liquefied natural gas import, storage, and distribution facilities, pre-operating and operating working capital requirements for Battery Energy Storage System projects, and transaction-related fees, costs, and expenses of the facility. The post Highly-leveraged SMGP appeared first on Daily Tribune......»»
Bong Go bats for better fire prevention, sends aid to Parañaque fire victims
Senator Christopher “Bong” Go remains committed to help Filipinos affected by crisis situations as he sent his team to assist fire victims residing in Barangays La Huerta and San Dionisio in Parañaque City on Friday, 9 June. Go’s team held the relief activity at Villanueva Village Basketball Court and distributed grocery packs, snacks, vitamins, shirts and masks to a total of 76 affected households. The senator's personnel also gave away shoes and mobile phones to select recipients. Aside from the senator’s team, a team from the Department of Social Welfare and Development extended financial assistance to further help the victims recover from the damage caused by the fire incident. Through his video message, Go maintained that the government continues to prioritize better fire prevention efforts as the Bureau of Fire Protection is currently undergoing a modernization program, following the enactment of Republic Act No. 11589 in 2021. The BFP Modernization Act, which was primarily authored and co-sponsored by Go, mandates the agency to undergo a 10-year modernization program to transform the bureau into a world-class institution that would significantly improve its capability to respond to fire-related incidents by recruiting more firefighters, acquiring new fire equipment and developing specialized training, among others. “Sa pag-iikot ko ng bansa para makatulong sa mga nasunugan, nakita ko po talaga ang importansya ng pagpapalakas ng ating fire prevention campaigns. Kaya naman nagpapasalamat ako sa dating pangulong Rodrigo Duterte sa pag-apruba ng BFP Modernization Act para mas lalo pang lumakas ang kapasidad ng ahensya,” expressed Go. “Sa mga nasunugan naman po, alam ko pong napakahirap ng panahon ngayon at kayo po ay nasunugan pa pero huwag po kayong mawalan ng pag-asa. Ang pera naman po ay kikitain pero ang pera ay hindi po nabibili ang buhay. A lost life is a lost life forever. Kaya mag-ingat po tayo palagi,” he reminded. Go then offered additional assistance to any resident in need of medical care as he encouraged them to seek the services of the Malasakit Center located at Ospital ng Parañaque. After he witnessed the struggles of financially disadvantaged Filipinos in settling their medical expenses, Go initiated the Malasakit Centers program in 2018 and was institutionalized under Republic Act No. 11463 in 2019, which he principally authored and sponsored. The center houses relevant agencies where patients can conveniently avail medical assistance programs, such as DSWD, Department of Health, Philippine Health Insurance Corporation and Philippine Charity Sweepstakes Office. There are now 158 Malasakit Centers nationwide. Go likewise mentioned that Super Health Centers will be strategically located in the city as identified by the DOH, including two in different barangays. Through the collective efforts of fellow lawmakers, sufficient funds had been allocated for 307 Super Health Centers in 2022 and 322 in 2023. The DOH, as the lead implementing agency, identifies strategic areas where these centers will be built. Services offered in Super Health Centers include database management, out-patient, birthing, isolation, diagnostic (laboratory: x-ray and ultrasound), pharmacy and ambulatory surgical unit. Other available services are eye, ear, nose, and throat service, oncology centers, physical therapy and rehabilitation center and telemedicine, where remote diagnosis and treatment of patients will be done. Aside from the assistance provided, Go, who is Vice Chair of the Senate Committee on Finance, supported several initiatives in the city to ensure its progress amid crisis situations. Among the projects are the rehabilitation and construction of several multipurpose buildings, rehabilitation of drainage in Brgy. Don Bosco, improvement of the Parañaque River Promenade Bridge and acquisition of an ambulance unit. Last 2 June, Go’s team also assisted more fire victims in the city. The post Bong Go bats for better fire prevention, sends aid to Parañaque fire victims appeared first on Daily Tribune......»»
Celebrating independence, overcoming challenges
We all wish for the good health of our loved ones. It would pain anyone to see their family members, friends or partners suffering through disease, more so if they cannot receive adequate medical attention due to financial constraints or inaccessible health services. Unfortunately, many poor Filipinos and those living in remote areas face precisely this dilemma. As we go around the country, I have personally witnessed the dire need to make medical assistance and health services — both basic and specialized — more accessible to Filipinos. That is why as Chair of the Senate Committee on Health, I continue to push for initiatives to improve healthcare access, including the establishment of more Malasakit Centers, Super Health Centers and Regional Specialty Centers. Just last on Friday, 9 June, I was honored to lead the inauguration of the 158th Malasakit Center at the Diosdado P. Macapagal Memorial Hospital in Guagua, Pampanga, together with our new Health Secretary, Teodoro Herbosa, as well as local leaders led by Governor Dennis Pineda and Vice Governor Lilia Pineda, among others. The Malasakit Center aims to streamline and expedite the delivery of medical assistance particularly to poor patients by consolidating the programs of various government agencies under one roof. Launched in 2018, it was later institutionalized under the Malasakit Centers Act of 2019, which I principally authored and sponsored in the Senate. According to the DOH, over seven million Filipinos nationwide have benefited from the program so far. During the inauguration, my team and I also aided 120 in-patients, 174 out-patients, and 378 front liners at the hospital. Additionally, a team from the Department of Social Welfare and Development extended assistance to qualified patients. On the same day, we visited Bulacan to assist 1,000 students in Guiguinto town with Mayor Agay Cruz and Congressman Boy Cruz, as well as 1,465 struggling Bulakeños in Meycauayan City. We also attended the ribbon-cutting and blessing of the city’s Super Health Center together with Mayor Henry Villarica. I have also long been advocating for the establishment of more Super Health Centers throughout the country. Through the efforts of our fellow lawmakers, sufficient funds had been allocated for 307 Super Health Centers in 2022 and 322 in 2023. DOH, as the lead implementing agency, identifies the strategic areas where they will be constructed. While our Super Health Centers bring basic health services closer to Filipinos, especially in remote areas, I am hopeful that we could also soon provide our kababayans improved access to specialized medical services following the recent ratification of the Bicameral Conference Report on the Regional Specialty Centers Act, which I authored and principally sponsored. If enacted, it will bring key medical services closer to the people by establishing specialty centers that cater to specific medical needs in different regions. Meanwhile, we have also continued distributing aid to many indigent Filipinos in various regions. On 5 June, I was in Digos City, Davao del Sur, with Mayor Josef Cagas and other local leaders to aid 1,500 indigents and witness the groundbreaking of its Super Health Center. We were in Agusan del Norte with Governor Angel Amante-Matba the following day, where we attended the groundbreaking of the Super Health Center in Las Nieves and inspected the ongoing construction of the Las Nieves Bridge. We then added 1,500 indigents in the town before visiting the Butuan City Super Health Center. We likewise assisted 2,000 residents in the city. Following this, I attended the annual general assembly of the Philippine League of Secretaries to Sanggunian Inc. in Davao City. Iloilo was our next destination where we attended the groundbreaking of the Barotac Viejo Super Health Center on 7 June and provided aid to 1,000 indigents in the town. I was also invited by Congressman Boboy Tupas and Mayor Bongbong Tupas to inspect the town’s new fire station. That day, we assisted 1,897 typhoon victims in Banate. We then made our way to Silay City in Negros Occidental, where we participated in the groundbreaking of a Super Health Center, dropped by the Teresita L. Jalandoni Provincial Hospital where I was instrumental in funding the construction of its new building, and extended aid to 2,000 underprivileged residents. Additionally, we joined in the commemoration of Silay City’s Charter Anniversary led by Mayor Joedith Gallego as we attended the PWD Sitting Volleyball event where I highlighted our efforts for more inclusive sports development programs as Chair of the Senate Sports Committee. On 8 June, we helped 1,493 beneficiaries in Palayan City, Nueva Ecija, in partnership with Governor Oyie Umali, Mayor Vianne Cuevas, Congressman GP Padiernos, and other local leaders. That same day, we aided 1,160 indigents in Quezon City with Cong. Marivic Pilar-Co. On 9 June, together with Senator Robin Padilla and in partnership with Governor Luigi Villafuerte, Congressman Lray Villafuerte, and Congressman Migz Villafuerte, we distributed aid to 2,699 indigents in Pili, Camarines Sur. That day, we attended the groundbreaking of the Super Health Center in Talisay, Camarines Norte, with Mayor Dondon Mancenido, where we likewise assisted 1,500 residents. Together with Governor Dong Padilla, I conducted a monitoring visit to the Malasakit Center at the Camarines Norte Provincial Hospital in Daet, Camarines Norte, where we aided 262 patients and 811 front liners. Finally, I headed back to Davao City to attend the 2023 Mindanao League of Municipalities of the Philippines Convention. Meanwhile, my office separately aided 186 fire victims in Quezon City, 41 in Caloocan City, 76 in Parañaque City, and 10 in Baguio City. Likewise helped were 1,015 indigents in Alitagtag, Batangas; 1,500 in Cabanatuan City and 1,040 in General Mamerto Natividad, Nueva Ecija; 500 in Datu Odin Sinsuat, Maguindanao del Norte; 360 in Culasi, Antique; 150 in Island Garden City of Samal, Davao del Norte; 53 in Iba and 13 in Botolan, Zambales; 1,620 in San Vicente, Camarines Norte; 380 Tesda graduates in Lapu-Lapu City, Cebu; and 90 indigent couples in Baroy, Lanao del Norte. My team likewise witnessed the groundbreaking of the Super Health Centers in Barangay Talon-talon, Zamboanga City on 6 June, and Mabuhay, Zamboanga Sibugay on 8 June. As we commemorate Philippine Independence Day this Monday and celebrate the heroism and sacrifices of our forefathers to gain the liberties we enjoy today, I hope we can take this time to come together and exert efforts to help free more Filipinos from disease, poverty, and other challenges that beset our society today. The post Celebrating independence, overcoming challenges appeared first on Daily Tribune......»»
Bong Go returns to Bicol to help various sectoral groups in Camarines Sur
Showing his commitment to bring public service closer to Bicolanos in need, Senator Christopher "Bong" Go returns to Bicol region to personally lead a relief distribution for indigents from various sectors in Camarines Sur on Saturday, June 10. Last June 3, Go visited the Malasakit Center at the Bicol Medical Center in Naga City where he checked on its operations and provided assistance to both patients and frontliners. Additionally, he participated in the groundbreaking ceremony for the Super Health Center in the same city and attended the Bicol Social Media Summit. He also inspected the by-pass road which was initiated during the Duterte administration through his support. This time, Go went back to Camarines Sur to help thousands of indigents in the province. Held at the Fuerte Sports Complex in Pili, Go and his team distributed food packs, masks, vitamins, snacks and shirts to 2,699 residents, composed of 1,247 fisherfolks and 1,452 students. They also provided select individuals with shoes, shirts, watch, bicycles, cellular phones, and balls for basketball and volleyball. Meanwhile, representatives from the Department of Social Welfare and Development extended financial assistance to the beneficiaries. Go was joined by fellow Senator Robinhood Padilla, Camarines Sur 2nd District Representative Luis Raymund Villafuerte, 5th District Representative Miguel Villafuerte, Bicol Saro Party-list Representative Brian Yamsuan, Governor Luigi Villafuerte, Vice Governor Sal Fortuno, Jr., Libmanan Mayor Jes Camara, Calabanga Mayor Eugene Severo, Baao Mayor Jeff Besinio, Canaman Mayor Nelson Legaspi, and Gainza Mayor Leonardo Agor, among others. During the activity, local leaders and beneficiaries took a moment to express their gratitude to Go by singing him a birthday song to mark his upcoming birthday on June 14. Appreciative of their gesture, Go conveyed his thanks and proceeded to emphasize the importance of addressing their immediate needs, particularly the provision of nourishment to those in dire situations. "Mayroon rin po kaming dalang grocery packs para sa inyong lahat ngayong araw na ito. Madadala n'yo po pag-uwi ang grocery packs... May dala rin po kaming vitamins, pampalakas ng inyong resistensya. Kapag malakas ang inyong resistensya, mas lalaban po ang inyong katawan kontra sakit," urged Go. As chair of the Senate Committee on Health, Go also reached out to individuals with medical issues, urging them to visit the Malasakit Centers located at the Bicol Medical Center in Naga City and the Bicol Region General Hospital and Geriatric Medical Center in Cabusao. The Malasakit Centers program, which was initiated by Go in 2018, was later institutionalized through the Malasakit Centers Act of 2019 that he principally authored and sponsored. The program aims to facilitate easy access to various medical assistance programs provided by the DSWD, Department of Health, Philippine Health Insurance Corporation, and Philippine Charity Sweepstakes Office. There are currently 158 Malasakit Centers operating nationwide, successfully aiding over seven million Filipinos, according to the DOH. Continuing his message, Go also emphasized the significance of Super Health Centers which he initiated and continues to champion to bridge the healthcare gap especially in grassroots communities. Through the concerted efforts of fellow lawmakers, sufficient funding has been allocated for the construction of 307 Super Health Centers in 2022 and additional 322 centers in 2023. The DOH, as the lead implementing agency, identifies strategic areas where these centers will be built. In Camarines Sur alone, 18 Super Health Centers have been funded for construction in 2022 and 2023. Super Health Centers are designed to provide basic health services, including database management, outpatient care, birthing facilities, isolation units, diagnostic services (such as laboratory tests, X-rays, and ultrasounds), pharmacies, and ambulatory surgical units. In addition, specialized services like eye, ear, nose, and throat (EENT) care, oncology centers, physical therapy and rehabilitation centers, and telemedicine capabilities for remote diagnosis and treatment of patients will also be available. Go, in his capacity as Vice Chair of the Senate Committee on Finance, also supported a range of projects aimed at improving the province's infrastructure. These included the construction of the Mabolo - Almeda Bypass Road in Naga City. Additionally, Go was instrumental in enhancing the San Fernando Sports Complex in San Fernando, Camarines Sur, improving the Bula and Nabua Section channel, and construction of the Lalud - Garchitorena Road, among others. After his visit to Camarines Sur, Go immediately proceeded to Camarines Norte for the groundbreaking ceremony of the Super Health Center in Talisay town where he also aided struggling residents. The senator also paid a visit to the Camarines Norte Provincial Hospital in Daet to check on the operations of the Malasakit Center there and aid patients and frontliners in the hospital. The post Bong Go returns to Bicol to help various sectoral groups in Camarines Sur appeared first on Daily Tribune......»»
Fire-hit residents in Parañaque City get support from Bong Go
The Office of Senator Christopher "Bong" Go provided aid to victims of a fire incident in Barangay Don Bosco, Parañaque City on Friday, June 2. “Ang gamit naman po ay nabibili natin. Nalalabhan natin ‘yung damit natin ‘pag nasusunugan tayo. ‘Yung pera po’y kikitain natin. Subalit ‘yung perang kikitain natin ay hindi po nabibili ang buhay. Ang nawalang buhay po’y wala na talaga. A lost life is a lost life forever. Kaya mag-ingat po tayo palagi,” said Go in a video message. Go then mentioned that the Bureau of Fire Protection is currently undergoing a modernization program, as mandated by Republic Act No. 11589, which he primarily authored and co-sponsored, to enhance further its capability to respond to fire emergencies. Held at Don Bosco gymnasium, Go’s team handed out grocery packs, snacks, masks, vitamins, and shirts to 170 victims. They likewise gave away cellular phones, shoes, watches, bags, and balls for basketball to select beneficiaries. The Department of Social Welfare and Development also provided financial assistance to the affected residents. Meanwhile, Go encouraged those who may need medical assistance to seek the services of the Malasakit Center at the Ospital ng Parañaque or any of the 157 operational Malasakit centers nationwide, which have assisted over seven million Filipinos, according to the Department of Health. Go initiated the Malasakit Centers program in 2018 to ensure that particularly poor and indigent patients have convenient access to medical assistance programs by the government. It was later institutionalized under Republic Act No. 11463, which was principally authored and sponsored by Go. Go likewise mentioned that Super Health Centers will be strategically located in the city as identified by the DOH, including two in different barangays. Through the collective efforts of fellow lawmakers, sufficient funds had been allocated for 307 Super Health Centers in 2022 and 322 in 2023. Services offered in Super Health Centers include database management, out-patient, birthing, isolation, diagnostic (laboratory: x-ray and ultrasound), pharmacy, and ambulatory surgical unit. Other available services are eye, ear, nose, and throat (EENT) service, oncology centers, physical therapy and rehabilitation center, and telemedicine, where remote diagnosis and treatment of patients will be done. Go, as Vice Chair of the Senate Committee on Finance, likewise supported the rehabilitation and construction of several multipurpose buildings and the rehabilitation of a drainage in Brgy. Don Bosco, improvement of the Parañaque River Promenade Bridge, and acquisition of an ambulance unit. The post Fire-hit residents in Parañaque City get support from Bong Go appeared first on Daily Tribune......»»
Chef Tatung Sarthou launches new cookbook
[caption id="attachment_133417" align="aligncenter" width="2560"] Chef Tatung Sarthou with his new book Simpol Dishkarte.[/caption] You’ve got to hand it to celebrity chef Myke “Tatung” Sarthou. There really is no stopping him. After making private dining in his home in Antipolo, Rizal, available to destination diners in May last year, he opened one restaurant concept after another in the next few months. There’s Lore Manila, which opened at One Bonifacio High Street Mall in Bonifacio Global City, Taguig City, on 25 November 2022. Next came Azadore, which is doing very well since it opened its doors to the dining public at Sct. Fernandez corner Sct. Torillo, Quezon City, on 27 March 2023. And the most recent addition to the Chef Tatung restaurants, New York, Cubao, at the Public Eatery, Robinsons Magnolia, Quezon City, just last 26 April. While you are still marveling at how chef Tatung is able to create all these different restaurant concepts, make each of them work, and keep the consistency of the food at all times, he is on to another new venture. Just last week, he launched his latest book, Simpol Dishkarte, at The Alley by Vikings, UP Town Center, Quezon City. [caption id="attachment_133419" align="aligncenter" width="2560"] Also found in the book is lengua with cream sauce and mushrooms.[/caption] Not an ordinary cookbook filled with recipes, Simpol Dishkarte is a comprehensive guide for Pinoy cooking, designed to make cooking more enjoyable and stress-free. It teaches kitchen basics in easy terms, so that even those who know nothing about cooking will learn not just the basics but also kitchen hacks, tips, tricks and more. It has its share of recipes, and these are easy to follow, especially since the book is written in spoken Filipino language, or Filipino-English combination. Some even have step-by-step photos and illustrations. [caption id="attachment_133418" align="aligncenter" width="1707"] One of the recipes that can be found in the book is longganisa de rekado.[/caption] “Simpol Dishkarte was written to bridge the skill gap of home cooks to satisfy the discriminating tastes of people who frequent restaurants when served with home-cooked dishes. It is also written for non-English speakers by providing technical and practical know-how in the kitchen to function in a home or even commercial setting,” says chef Tatung. “The book is a perfect primer for non-cooks who want to venture into the kitchen, mga naghahanap ng ibang career or hanapbuhay. It’s suitable for entry-level or community-based food businesses.” [caption id="attachment_133415" align="aligncenter" width="828"] PHOTOGRAPHS BY DOLLY DY-ZULUETA FOR THE DAILY TRIBUNEBook launch at The Alley by Vikings.[/caption] The original book, Dishkarte, was initially published in 2018 and is well-loved by Filipinos all over the world. It was named as one of the top winners of the Filipino Readers’ Choice Award in 2022. Simpol Dishkarte is an updated version, imparting a lot of new knowledge, ideas and recipes. Priced at P390, Simpol Dishkarte is available in all National Bookstore and Fully Booked outlets and online on Amazon, Simpol stores in Shopee and Lazada. The post Chef Tatung Sarthou launches new cookbook appeared first on Daily Tribune......»»
Angkas Digital-first business
Digital transformation is reshaping how we live and do business, accelerating over the past few years as we now have more access to digital technology than ever before. But as the digital lifestyle is adopted by society, our use of these digital tools must evolve to allow us to serve our customers better. George Royeca, president and founder of the ride-hailing application, Angkas, believes digital technologies are digital tools that allow small and medium enterprises to expand their market base with minimal costs in the shortest possible time. “We have not reinvented the wheel,” Royeca said at the maiden offering of the Asian Innovation Forum organized by the Daily Tribune at the Bellevue Hotel. “The ‘habal-habal’ operation has always been there across the country, and we just institutionalized its operation by adding digital technology into it.” Royeca added that digital technologies are just tools “to be exploited” by SMEs to upscale their operations or enhance business models. Eventually, they graduate from small operations into a big conglomerate. According to Royeca, digital technologies allow businesses to study available data and use them to understand the needs of the public through data analysis and expand their customer base. [caption id="attachment_132010" align="aligncenter" width="2560"] George Royeca, Angkas president and CEO as he amuses more than 180 micro, small and medium enterprises during the Daily Tribune’s Asian Innovation Forum last 9 May 2023 under the topic “Role of Logistics in Managing Supply Chain, Upscaling Operation.”[/caption] “To have a permanent customer base is one of the most critical tools to increase your business profits,” he said. “We are originally an MSME (micro, small and medium enterprise) who scaled up and now have eight million downloads from customers and more than 30,000 riders after six years of hardships,” Royeca said. Bumpy road During his talk, Royeca recalled how his enterprise stumbled and suffered a huge blow when the Supreme Court came out with a decision halting Angkas operations in 2017 based on a complaint filed by the Land Transportation Franchising and Regulatory Board and the Department of Transportation accusing Angkas of operating without a business permit. “But I accepted it even though it hurt me, as that was the fourth time Angkas operations were stopped. I felt like giving up at the time, as the SC had already decided our fate. I even asked my wife, is it time to pack up, return to Singapore, and do something else? But I just considered it a great challenge and a story of resilience and perseverance that I wanted to impart to startups,” he said. Royeca was astounded by the support of his thousands of bikers who picketed on EDSA back then, as well as the help of the passengers through social media, standing up and fighting for the right of the unrecognized transportation industry of “habal-habal.” A preliminary injunction granted on 20 August 2018 by the Mandaluyong Regional Trial Court preventing the government from apprehending Angkas riders and performing acts that would impede its business gave Angkas a ray of hope. “We now have a very friendly government and regulator who understand the importance of the informal sector. Now we are expanding nationwide, and you’ll see these job opportunities everywhere,” he told forum participants as he discussed the Role of Logistics in Managing Supply Chains and Upscaling Operations. Banking on technology As he believes in the supremacy of MSMEs, which comprise 99 percent of the country’s total entrepreneurial environment, Royeca said he wanted the government to recognize the informal sector that utilizes innovations and technology to become an integral part of society. “We existed because we collaborated with the government, as we did not coin “habal-habal” and the motorcycle taxis. It was already there, thousands, even millions, throughout the country. We only used the technology and digitization to produce a ride-hailing app as a tool to revolutionize the transportation industry and mobility,” he said. Despite this, Royeca maintained that Angkas has a long way to go, comparing its 30,000 riders to the 18 million motorcycle owners in the country today. “We are successful because we built a community, looked at individuals’ circumstances, and used technology to uplift their lives. It’s not about the technology but the human behind that technology. If we can impart success to 30,000 riders, then we can do it to 18 million motorcycle riders to get them out of poverty in our lifetime,” he added. With regard to MSMEs pivoting on technology, he said entrepreneurs should take advantage of the available tools and information right at their fingertips, such as their mobile phones and the internet, to harness their businesses and services. “Startups can even create a new ecosystem using various partnerships. You can partner with the brightest and best people out there to offer good services to everyone,” he said. Royeca envisions SMEs and Angkas collaborating to bridge the digital divide between big and small businesses and ultimately level the playing field for all stakeholders. He believes even a startup business operating a single motorbike for Angkas could become a fleet operation with proper mentoring and partnership with Angkas. The possibilities in adopting digital tools are immense, Royeca said and added the potential to manage risk, improve customer engagement, and reduce cost while increasing productivity and bringing brand recognition is endless. “SMEs must be willing to invest their time in training themselves to understand these technologies, including digital infrastructures, to harness the advantages their offer. By taking risks with digitalization, SMEs could significantly improve their competitive advance in the marketplace and accelerate their expansion,” Royeca said. “It is time for SMEs to fully embrace the future and reach new heights with digital tools. Digital-first business is the way to go,” he added. [caption id="attachment_132009" align="aligncenter" width="2400"] (From left to right) Daily Tribune managing editor Dinah Ventura, Angkas president and CEO George Royeca, UnionBank’s Chief Data and AI officer, Dr. David Hardoon, Daily Tribune president Willie Fernandez, Daily Tribune executive vice president Bettina Fernandez, Intellectual Property Office of the Philippines general manager, Atty. Rowel Barba and Frederick Imson of the Philippine Charity Sweepstakes Office.[/caption] Daily Tribune’s Asian Innovation Forum is a convergence of stakeholders to help improve small businesses, introduce new ideas, open dialogues, and foster cooperation, ultimately ensuring greater access and inclusion in the financial technology sector and for Filipino entrepreneurs to gain a foothold in the broader market. The post Angkas Digital-first business appeared first on Daily Tribune......»»
Morikawa quickly goes from college grad to major champion
By DOUG FERGUSON AP Golf Writer SAN FRANCISCO (AP) — Collin Morikawa couldn't help but break into a smile, and not just because the shiny Wanamaker Trophy he won at Harding Park was positioned on a stand next to him. Just over 14 months ago, Morikawa went through commencement after his All-American career — on the golf course and in the classroom — across the Bay Bridge and up the road at Cal-Berkeley. Since then, he has played 28 tournaments around the world and already has three victories on the PGA Tour, one of them a major championship. In the last 50 years, only four other players won their first major before age 23 or younger — Jordan Spieth, Rory McIlroy, Tiger Woods and Seve Ballesteros. He already is No. 5 in the world. That alone puts him among the elite, except that Morikawa didn't need to win the PGA Championship to feel that way. “When I woke up today, I was like, ‘This is meant to be.’ This is where I feel very comfortable,” Morikawa said. “This is where I want to be, and I'm not scared from it. I think if I was scared from it, the last few holes would have been a little different. But you want to be in this position.” Harding Park was not a place for the meek. Rare is Sunday at a major with so many possibilities at the beginning, at the turn and down the stretch. The drama was relentless. Nine players at one point could claim a share of the lead. There was Dustin Johnson, who started with a one-shot lead. The power of Tony Finau, Bryson DeChambeau and Cameron Champ was on full display. Jason Day brought the experience of winning majors and being No. 1 in the world. Morikawa embraced the moment and delivered the signature shot that allowed him to win a thriller. Actually, there were two moments. After catching a good break — even the most tested major champions need those — with a tee shot off a tree and into play on the 14th, he was short of the green and chipped in for birdie to take the lead. Two holes later, Paul Casey tied him with a nifty up-and-down for birdie on the 16th, where the tees were moved forward to 294 yards to entice players to go for the green. Morikawa thought back to the 14th hole at Muirfield Village during the Workday Charity Open, where he fearlessly hit driver in a similar situation — big trouble left, water right — and drilled it to 12 feet. His shot was the signature moment of this major, a driver that bounced just right and onto the green and rolled up to 7 feet below the cup. He made the eagle putt and was on his way to a two-shot victory with a 6-under 64, matching the lowest final round by a PGA champion. There were no spectators because of the COVID-19 pandemic. Casey must have felt like one. He was still on the 17th tee when he looked back and saw Morikawa's shot. “Nothing you can do but tip your cap to that,” Casey said. “Collin has taken on that challenge and pulled it off. That's what champions do.” He won at Muirfield Village last month not from that bold play on the 14th hole, but after Justin Thomas made a 50-foot birdie putt in the playoff. Morikawa answered with a 25-foot birdie of his own and won two holes later. He is comfortable in the most uncomfortable situations. It was Thomas who gave Morikawa more confidence than he needed. They got together for dinner at the Canadian Open last summer, Morikawa's first start since graduating from Cal. Thomas told him he was good enough, he would make it. Thomas knew from experience. He spent a year in the minor leagues before getting his PGA Tour card, went through a year of learning without winning and now has 13 wins, a major and twice has been No. 1 in the world. Morikawa didn't wait that long. He won the Barracuda Championship to earn a PGA Tour card. He won against a strong field for validation. Now he's a major champion. Young stars are emerging every year, and it was easy to overlook Morikawa. He was a runner-up two years in a row for the Hogan Award, given to the nation's best college player. Doug Ghim won in 2018, Matthew Wolff a year later. And it was Wolff who denied Morikawa a victory last year in Minnesota by making a long eagle putt on the last hole. Players know best. “There’s always a bunch of guys that rock up on the scene, and he didn’t necessarily get the most publicity out of the group he was in,” Casey said. “I know talent when I see it. I don't like the term ‘talent,’ but you know when somebody is good. And Collin was good. We could just tell. ... And we weren't wrong.” Morikawa grew up in Southern California with Wolff. He considers the Bay Area a second home from his time at Cal and the dozen times the Golden Bears played or had qualifiers at Harding Park, a public course that never was this tough. In just over a year — it feels less than that because of the three months golf was shut down because of the pandemic — he has emerged as a star without ever being surprised. He thought back to his debut 14 months ago and recalled being comfortable then. He tied for 14th. “There's a different sense of comfort now,” Morikawa said. Another big smile. A bright future......»»
Baltimore bridge collapse could lead to delayed shipments, higher shipping costs
The closure of the Port of Baltimore in the US following the collapse of the Baltimore key bridge is expected to lead to shipment delays and higher shipping costs......»»
Emergency protocols in case of bridge collapse sought
Emergency protocols in case of bridge collapse sought.....»»
Baltimore Bridge collapse: Police had about 90 seconds to stop traffic before bridge fell
BALTIMORE — It was the middle of the night when a dispatcher’s warning crackled over the radio: A massive cargo ship had lost its steering capabilities and was heading toward the Francis Scott Key Bridge. Within about 90 seconds, police officers who happened to be nearby responded that they managed to stop vehicle traffic over.....»»
Hope for more survivors from Baltimore bridge collapse fades
BALTIMORE – The coast guard announced on Wednesday that hope of finding more survivors of the Baltimore bridge collapse has dimmed, and efforts have switched to searching for the bodies of the missing persons, as well as seeking more answers as to why a container ship crashed into the span. The coast guard announced on.....»»
EXPLAINER: Why did the Baltimore bridge collapse and what is the death toll?
(Reuters) -Divers recovered the remains of two of the six missing workers more than a day after a cargo ship smashed into Baltimore’s Francis Scott Key Bridge. The bodies of two men were found in a red pickup truck submerged in the icy waters of the Patapsco River. Rescuers pulled two workers from the water.....»»
No Pinoy hurt in Baltimore bridge collapse
The Philippine embassy in Washington has not received any report of Filipinos hurt in the collapse of the Francis Scott Key Bridge in Baltimore, Maryland on Tuesday......»»