A world-class P740 billion airport showcase
Last week, Congress approved the 50-year franchise for San Miguel Corp. to build and operate a P740-billion airport project in Bulacan......»»
DD unit’s overseas expansion on high gear
Homegrown Hotel 101 has cranked up its expansion overseas through its landmark developments overseas including one in Japan. Parent DoubleDragon is targeting to list its subsidiary Hotel 101 Global at NASDAQ (US Stock Exchange). Eventually, Hotel 101 Global is expected to derive over 95 percent of its revenues outside of the Philippines. The first three overseas Hotel101 projects will be in Niseko Hokkaido, Japan; Madrid, Spain and California, USA. At Hokkaido, Japan, 26 August 2023, was a Filipino moment as the Mang Inasal founder and DoubleDragon Corp. chairperson Edgar Injap Sia II and Jollibee founder and DoubleDragon Corp. co-chairperson Tony Tan Caktiong met with Niseko Mayor Kenya Katayama and Kutchan Hokkaido Mayor Kazushi Monji. They led the groundbreaking of the 1.17-hectare property of Hotel 101 and started construction of the 482-room Hotel 101-Niseko project. Hotel 101 is the first Filipino hotel chain to expand overseas. The contractor of Hotel 101-Niseko is Iwata Chizaki Inc., one of the largest contractors in Japan, and the same contractor which built the Chitose International Airport in Saporro, Hokkaido Japan. The Niseko hotel project in Hokkaido, Japan is one of Hotel 101’s first three overseas projects, with the other two to be in Madrid, Spain and California USA. Niseko Hokkaido Japan is a world-class premier ski destination that remains popular year-round from its picturesque landscapes to its natural hot springs. The Singapore-registered Hotel101 Global Pte. Ltd. is the worldwide expansion subsidiary of DoubleDragon. These first three overseas sites will serve as bridge projects to jumpstart the transition of Hotel101 to transcend beyond these first three countries and become a global brand with a truly unique business concept that can be planted in over 100 countries. 25 countries by 2025 Target near term expansion roadmap for Hotel101 Global is to be in these first 25 countries by 2026, namely: Philippines, Japan, Spain, USA, United Kingdom, UAE, India, Thailand, Malaysia, Vietnam, Indonesia, Saudi Arabia, Singapore, Cambodia, Bangladesh, Mexico, South Korea, Australia, Canada, Switzerland, Turkey, Italy, Germany, France and China. DoubleDragon has accumulated a completed recurring income portfolio of over 1.2 million square meters in diversified hard assets in office leasing with its Jollibee Tower, DD Meridian Park complex, its string of CityMall community centers, CentralHub industrial warehouse complexes, its string of Hotel 101 projects in the Philippines and overseas. As of 30 June 2023, DoubleDragon’s total equity stands at P81.64 billion and total cash position stands at P6.54 billion. DoubleDragon has recently been upgraded to the highest PhilRatings PRS Triple A Credit Rating. The post DD unit’s overseas expansion on high gear appeared first on Daily Tribune......»»
Consortium Unites to Upgrade NAIA to World-Class Airport
The Manila International Airport Consortium (MIAC), a partnership among six leading Filipino conglomerates and US-based Global Infrastructure Partners (GIP) submitted an unsolicited proposal to the Philippine Government for the upgrading of Manila’s Ninoy Aquino International Airport (NAIA). Valued at over PHP 100 billion, the proposal includes a significant upfront payment to Government and committed investments […].....»»
A world-class P740 billion airport showcase
Last week, Congress approved the 50-year franchise for San Miguel Corp. to build and operate a P740-billion airport project in Bulacan......»»
SMC to start Bulacan airport development in 2025
Diversified conglomerate San Miguel Corp. (SMC) targets to start airport development works at its P740-billion international gateway project in Bulacan next year......»»
MIAA doubles profit in 2023
The Manila International Airport Authority is ending its role as operator on a high note, doubling its profit to P4.02 billion in 2023 and raising dividends to the government by 15 times......»»
P146 billion airport contracts set for signing this year
The Department of Transportation will sign this year more than P146 billion worth of contracts for the privatization of four airports, freeing up fiscal space for the government and building up the public-private partnership landscape......»»
Wildlife forensics: how science is helping to combat a billion-dollar organized crime industry
Another day at the airport, another routine inspection for a Customs Officer.She finishes examining the contents of one shipment - nothing of note. But then, she spies a crate labeled 'exotic reptiles.'Suspicious, she opens the shipment and begins to search among the crates. And there, tucked away in a corner, is a collection of turtle shells and other wildlife products.She pauses. Have these shell.....»»
BDO readies SMC financial war chest for NAIA
The country’s largest bank is preparing the financing package that will fund the P122.3-billion rehabilitation of the Ninoy Aquino International Airport (NAIA), with San Miguel Corp. (SMC) just weeks away from signing the concession for the project on March 18......»»
A glance at government s windfall from SMC’s NAIA takeover
The winning bid of the San Miguel Corp.-led consortium for the Ninoy Aquino International Airport translates to a government revenue share of P911.1 billion over a 25-year period, significantly higher than the other bidders’ revenue share offer of between P342.1 billion and P416.9 billion over the same period......»»
NAIA 4th worst in Asia, Middle East for business travel
The Ninoy Aquino International Airport has been named as the fourth worst gateway in Asia and the Middle East by business class travelers, trailing its Southeast Asian counterparts that were adjudged as some of the best in the continent......»»
EDITORIAL — The fourth worst
Here’s another problem that turns off foreign investors, and its solution does not call for amending the Constitution. Business class travelers – people with the type of money that can provide job-generating enterprises in the Philippines – have ranked the Ninoy Aquino International Airport as the fourth worst gateway in Asia and the Middle East......»»
Marcos Jr. : New Clark City access road a ‘red carpet’
The government will build more world-class infrastructure in other growth areas in the country to maximize their potential and attract investments, President Marcos pledged on Wednesday as he led the inspection of the 19.81-kilometer Airport to New Clark City Access Road in Mabalacat, Pampanga.?.....»»
NAIA project eyed to jumpstart P40 billion Maharlika investments
The Maharlika Investment Corp. is setting its sights on the recently awarded Ninoy Aquino International Airport rehabilitation as one of about 10 projects where it intends to invest the MIC’s P40-billion funding this year......»»
RSA allays last-minute NAIA review
On Thursday, Feb. 15, Transportation Secretary Jaime Bautista was worried and feeling sick, even feverish, according to sources, from the growing speculation and intrigue regarding the awarding of the estimated P170.6-billion solicited proposal to rehabilitate the Ninoy Aquino International Airport (NAIA), fearful that his long dream of finally accomplishing the privatization and much need rehabilitation of NAIA may once more be derailed......»»
EDITORIAL — Finally, a world-class airport?
The Philippines was one of the first countries in Asia to have a modern airport......»»
NEWS BRIEFS | Misamis Oriental Updates, 31 January 2024
P12.75 billion ok’d for Laguindingan airport expansion The National Economic Development Authority (NEDA) said it approved the expansion of Laguindingan Airport in Misamis Oriental, which has become the most overcrowded airport in the region. NEDA Secretary Arsenio Balisacan approved the “parameters, terms, and conditions of the upgrade of the airport,” Mindanao’s second busiest airport. The […].....»»
Zambales becomes first-class province; Governor Ebdane reveals 5-year plan
Zambales has been gearing up for its P2.6 billion development project through a 10-point comprehensive plan for inclusive growth and progress.....»»
DOTr gets 4 proposals for P170.6 billion NAIA rehab
The Department of Transportation has received four proposals for the P170.6-billion privatization of the Ninoy Aquino International Airport......»»
Extended deadline to boost competition for NAIA upgrade project
An extension of the bid submission deadline for the P170.6- billion upgrade and operations and maintenance of the Ninoy Aquino International Airport (NAIA) is expected to allow more players to participate and promote greater competition, according to the Public-Private Partnership (PPP) Center......»»
On leaving PDP Laban
On Friday, 20 October, I submitted my resignation as the Secretary-General and as a member of the PDP Laban Party. In my resignation letter, I expressed my utmost gratitude to former President Rodrigo Duterte, our party chairman, for the trust and confidence conferred during my incumbency as the PDP Laban Secretary-General. I served the party under him with loyalty and delivered on the duties and responsibilities assigned to me. As a contributing opinion writer in this newspaper, I want to express my opinion on matters concerning national issues affecting ordinary Filipinos without being tied to the political stand of PDP Laban. I was always for nation-building. I believe that after the political season, we can discuss political, economic, and social matters in a manner that is not corrosive but beneficial to our country’s economic well-being. I believe that the incumbent knows their pact with the Filipinos and that they will fulfill it in a manner befitting the proud Filipino class. All of these are written in our Constitution. It is very important for us to support the incumbent, especially when they have a clear political mandate. It is not about the personalities but about protecting our institutions of leadership, like the three branches of our government. This is the only way to have a truly strong republic and attain economic growth. There is this one hypothesis that institutional weaknesses caused by political instability may have been one of the huge reasons why we have left the boat to industrialization. (Jeffrey G. Williamson & Emmanuel S. de Dios, 2014. “Has the Philippines forever lost its chance at industrialization?” Philippine Review of Economics, University of the Philippines School of Economics and Philippine Economic Society, vol. 51(2), pages 47-66, December.) The hypothesis is that perennial political instability and legitimacy crises hinder investment and growth. Between 1983 and 1986, the economy plunged. Then came the Edsa revolt. There was political instability, too, in the incumbency of President Cory Aquino, given the seven coup attempts. Further political instability in the 2000s because of the question of corruption led to another revolt to replace President Estrada. However, questions of PGMA’s legitimacy led to mass rallies and attempted coups- political instability. The political instability during the 1990s prompted investor services to grade the Philippines as a “high political risk” from 1984 to 1991. The timing of the political uncertainties was unfortunate, too. It coincided with the spillover and relocation of Japanese manufacturing to Southeast Asia; Malaysia, Thailand and Indonesia benefitted but not the Philippines. As a result, Foreign direct investments to Thailand from 1987 to 1991 were USD 24 billion, while the Philippines only had a measly USD 1.6 billion for the same period. It is clear to me that political stability is the path to economic growth. To not undermine the institutions created under our Constitution. Confidential Funds I wanted to elaborate on my stand regarding the issue of confidential funds in local government. I hope Congress will tackle this not to find fault or to blame anybody but to craft a law prohibiting the practice of it. Giving the discretion to local executives to appropriate confidential funds in their favor is inimical to the interests of the Filipinos. LGUs earn revenues from taxing landholders, however small. It will be similar to the Philippines in the 1800s, with small farmers paying tributes to their Spanish conquistadors without explaining where the money was going. This is why Filipino farmers refused to work on their lands, prompting the Spanish friars to wrongfully brand the Filipinos as indolent. The practice of confidential funds will create dynasties and tyrants at the local level, and soon, even the barangay captains will appropriate for themselves confidential funds. They will claim they have the same rights as their mayor since they maintain peace and order at the barangay level. It is absurd and unjust. It will plunge us into chaos. The elections will be dirty and bloody. Confidential funds in the LGUs will not bring us peace and order, only greater income inequality and poverty. Congress must act. Our nation’s well-being is at stake. The post On leaving PDP Laban appeared first on Daily Tribune......»»