Bus firm remains bullish on business prospects this year
Bacolod-based transport firm Yanson Group of Bus Companies remains bullish about the business prospects this year amid the COVID-19 pandemic, the company’s top official said......»»
JG Summit core profit soars in 2023
Core earnings of conglomerate JG Summit Holdings Inc. soared in 2023 following a significant turnaround in its airline business, with Cebu Pacific returning to full-year profit for the first time since the pandemic......»»
First Gen income up 4 percent to P15.4 billion in 2023
Lopez-led power firm First Gen Corp. grew its income by four percent to P15.4 billion in 2023, from the previous year’s profit of P14.3 billion, mainly due to contributions from its geothermal subsidiary Energy Development Corp......»»
Aboitiz Group raises 2024 capex
The Aboitiz Group is poised to expand its various business units this year, supported by a substantial increase in capital expenditures......»»
CLI allots higher capex, partners with Japan firm
Cebu Landmasters Inc. is hiking its capital spending to P14.5 billion this year as it gears up for growth and expansion following a strong financial performance in 2023......»»
Unilever bullish on Philippine growth prospects
Unilever Philippines is optimistic of sustaining robust growth this year as it aims to grow its business faster than the country’s gross domestic product......»»
Looking ahead versus looking behind
Most of my clients did very well last year and are so bullish they see this year as another good one. A few clients of mine did not hit targets, and as they enter the new year, they are still fighting off the feeling of disappointment they had. Though this is business, there is another term for it, and it is called “life!”.....»»
D& L bullish on coco biodiesel business
D&L Industries Inc., the listed specialty food ingredients and oleochemicals producer, is optimistic about the prospects of its coco-biodiesel blend business amid reports the government plans to increase the mandated blend to three percent next year from two percent at present......»»
German firms bullish on Philippines operations
Majority of German firms in the Philippines have a positive outlook on business development in the next 12 months, according to a survey by the German-Philippine Chamber of Commerce and Industry......»»
Vivant bullish on solar PV as viable RE source
Cebu-based Vivant Energy Corp., through its retail company COREnergy Inc., is banking on the potential of solar photovoltaic ventures to expand its renewable energy portfolio. Vivant Energy president and COO Emil Andre M. Garcia said in a press statement on Friday that there is a “particularly strong interest” in solar PV, a technology that can be a viable source of renewable energy in the country. “Interest in renewable energy sources has been increasing as more and more industries look for ways to future-proof their businesses. This is another step towards our goal to expand our RE portfolio by 30 percent by 2030,” Garcia said. RE development ventures announced This week, Vivant Energy announced two renewable energy development ventures — a 20-year power supply agreement with Samal Solar Renewable Energy Corp. or SSREC and a tripartite deal with Aboitiz Renewables, Inc. and Vena Energy to develop, build, and operate a 200-megawatt or MW wind project in the Visayas. According to Garcia, these developments will translate to better retail electricity services and solar and energy engineering solutions that will benefit consumers and business owners. COREnergy is a retail company that offers total energy solutions to commercial and industrial establishments. For this year, the company targets to add 18 MW of solar rooftop generation capacity. Last year, it contributed to the renewable energy target of the entire Vivant Group by growing its rooftop solar business from 2 MW to 6 MW. The post Vivant bullish on solar PV as viable RE source appeared first on Daily Tribune......»»
Vivant bullish on solar PV as viable renewable energy source
Cebu-based Vivant Energy Corp., through its retail company COREnergy Inc., is banking on the potential of solar photovoltaic ventures to expand its renewable energy portfolio. Vivant Energy President and COO Emil Andre M. Garcia said in a press statement on Friday that there is a "particularly strong interest" in solar PV, a technology that can be a viable source of renewable energy in the country. “Interest in renewable energy sources has been increasing as more and more industries look for ways to future-proof their businesses. This is another step towards our goal to expand our RE portfolio by 30 percent by 2030," Garcia said. This week, Vivant Energy announced two renewable energy development ventures — a 20-year power supply agreement with Samal Solar Renewable Energy Corp. or SSREC and a tripartite deal with Aboitiz Renewables, Inc. and Vena Energy to develop, build and operate a 200-megawatt or MW wind project in the Visayas. According to Garcia, these developments will translate to better retail electricity services and solar and energy engineering solutions that will benefit consumers and business owners. COREnergy is a retail company that offers total energy solutions to commercial and industrial establishments. For this year, the company targets to add 18MW of solar rooftop generation capacity. Last year, it contributed to the renewable energy target of the entire Vivant Group by growing its rooftop solar business from 2 MW to 6 MW. The post Vivant bullish on solar PV as viable renewable energy source appeared first on Daily Tribune......»»
PEZA anticipates more Chinese investments in PH
Philippine Economic Zone Authority Director General Tereso O. Panga said more Chinese companies are choosing the Philippines as their next investment destination for their operations, at the completion of the 20th China-ASEAN Expo last 19 September. “With our robust economic performance and aggressive investment strategy, we are bullish in attracting more Chinese investments to the country especially in our ecozones, which can provide the best business ecosystem for our investors,” said Panga. During the Philippine Investment Forum in China, Philippine Ambassador to China Jaime A. FlorCruz highlighted that Chinese investors have expressed positive and increased interest in locating in the Philippines. He reported that the state visit of President Ferdinand R. Marcos Jr. secured over $22 billion in strategic investment commitments. FlorCruz also stated that “In the past 6 months since I took this role as Ambassador, I have met many Chinese executives actively seeking investment opportunities across numerous industries in the Philippines. Many are now poised to invest in the Philippines.” After the forum, two big Chinese companies met with Philippine officials to discuss business opportunities. One company, a leading global provider of smart devices, seeks to expand its presence in the Philippines, especially in the area of consumer electronics. Another company, one of the five largest power generation groups in China, aims to bring in renewable energy projects to the country. PEZA seeks to attract investments from high-tech industries and emerging technologies in industrial manufacturing transport, technology media and telecommunications, health and life sciences, agro-processing, renewable energy development and green ores. To date, a total of 164 Chinese companies/projects are registered at PEZA, generating P25.822 billion investments (as of May 2023) and creating 16,221 direct jobs (as of March 2023). On the sidelines of the CAEXPO, Panga represented the Philippines during the Roundtable Meeting on Investment Cooperation with the theme: “China-ASEAN Cooperation in Green Low-Carbon and Digital Economy”. He noted, “The China-ASEAN Cooperation in Green Low-Carbon and Digital Economy represents a vital step toward sustainable development, environmental conservation and economic growth, not just for the participating nations but for the entire world.” The PEZA Chief also laid out some of the initiatives of PEZA and the national government to contribute to attaining the Sustainable Development Goals. These projects include the integration of SDGs to the Philippine Development Plan (PDP) 2023-2028 and PEZA’s participation in the Global Reporting Initiative. PEZA is strengthening its ecozone development initiatives as part of the medium-term strategies under the PDP 2023-2028. Panga explained that on top of the conventional ecozones, PEZA is venturing into new frontiers in ecozone development to cater to new industries and to promote emerging global eco-industrial park models in the Philippines. “We intend to transform our ecozones and our registered export enterprises to be more sustainable, resilient and innovative and thereby make them competitive in the local and global value chain,” he said. So far, PEZA manages 422 economic zones nationwide which host 4,352 locator companies engaged in various industries including export manufacturing and IT-BPO. Considered as one of the largest expositions in China, the CAEXPO is an international economic and trade event co-sponsored by the central governments of China and the ASEAN countries. It is one of the key projects that form part of the Philippine-China Development Plan and is a major promotional platform that supports the country’s ASEAN-China Free Trade Agreement. PEZA is the lone investment promotion agency partner of the Department of Trade and Industry export promotion arm Center for International Trade Expositions and Missions for the CAEXPO participation. Following this event, PEZA joined the Special Envoy to China for the Philippine Investors’ Roadshow in Beijing, China on 26-30 September 2023. The post PEZA anticipates more Chinese investments in PH appeared first on Daily Tribune......»»
Villar group sets sight on hotel deals
The Villar Group is now targeting the hotel and tourism industry as a growth driver amid the strong rebound the travel sector is experiencing. Banking on the massive potential of the hospitality sector, business magnate Manuel Villlar Jr. is now taking decisive moves for his property companies to become a household name in the industry through the Brittany Hotel brand, which he recently acquired. “This one in Bonifacio Global City is my fanciest hotel until the next one opens. I have another Brittany Hotel in Daang Hari. That will be a bit smaller with only 120 rooms. It will be under the Brittany Hotel brand, which I plan to make a chain. It’s not Makati that’s in anymore, it’s Villar City now,” Villar said. “I’m bullish on the hotel (business), it’s good locally. The Philippines has just begun and I think the local hotel industry is just now picking up and I think the per capita income is getting higher,” he added. This ambition is on top of the ongoing development of Villar City — the family’s most ambitious project to date. It is envisioned to be a massive master-planned integrated development that will be composed of 15 satellite cities. It is also poised to be about 10 times as big as Bonifacio Global City — indicating its sheer magnitude not only in terms of the number of homes, offices, and complexes that will be built within this vast community. Infra also on table As part of the development, Villar recently announced that he will expand the LRT-1 Cavite Extension Project to Dasmariñas, Cavite at no cost to the government. The entire LRT-1 extension project of the Light Rail Manila Corp. or LRMC covers major cities such as Quezon City, Caloocan, Manila, Pasay and Parañaque. It is designed to cater to up to 800,000 passengers daily. Villar’s proposal, which he said had already been on the table for quite some time, will extend the project further from Las Piñas City to Dasmariñas, Cavite through seven new stations. He did not disclose how much the project would cost but he said “it will be big.” Notably, Villar said it was the Ayala and the Pangilinan groups who reached out to him to start a partnership to take on the railway project. The post Villar group sets sight on hotel deals appeared first on Daily Tribune......»»
Unemployment eases in April
The unemployment rate in the Philippines eased in April as the domestic economy made further progress in the labor market, data from the Philippine Statistics Authority showed on Friday. In a briefing, National Statistician Dennis Mapa said preliminary results of the April 2023 Labor Force Survey showed the number of unemployed persons during the month stood at 2.26 million. The number declined by 18.12 percent from the 2.76 million unemployed Pinoys in April last year. Month-on-month, the number of jobless Filipinos or those out of business in April is lower than the 2.42 million unemployed persons tallied in March. That translated to an unemployment rate of 4.5 percent in March, inching down from the preceding month's rate of 4.7 percent. The country's employment rate in April also soared to 95.5 percent from 94.3 percent in 2022. Mapa said industries with the largest increase in employment were wholesale and retail trade, accommodation and food service activities, transportation and storage, and other service activities. "This is because we see the reopening of the economy, there are more tourists, more people are going out that's why the largest source of employment is the accommodation and food service activities plus transportation. Those are the areas we have an increase in the number of employed persons," Mapa said. However, the data indicated that there were 6.2 million Filipinos who desired to work additional hours in April, reflecting an underemployment rate of 12.9 percent. This figure was higher than the previous month's rate of 11.2 percent. Several economists remained bullish on the country's labor market prospects after the country's labor data figures improved across all indicators in April. China Banking Corp. chief economist Domini Velasquez noted in a Viber message that there are no signs of a deterioration in the country’s employment outlook in the near term, due to continued economic expansion. However, Velasquez mentioned that there are key risks to the labor market’s recovery abound. “Key risks remain to be higher than expected minimum wage hikes, El Nino’s impact on the agriculture sector, and slow down in exports industries,” she added. Meanwhile, Ateneo De Manila University's economist Leonardo Lanzona turned critical of the latest jobs data. He argued that data on the accessibility of nonstandard labor arrangements, such as online labor platforms which offer jobs but not much in compensation, is particularly crucial at this point. "These informal jobs may be quite widespread," Lanzona said. The post Unemployment eases in April appeared first on Daily Tribune......»»
Australia’s Phl stakes up
It’s due season for the Philippines, an increasingly lucrative investment destination that embodies a shift in the center of gravity in the regional economy. The country’s bullish business prospects post-pandemic are propped up by the recent increase in direct investments, which continue to inspire business confidence in the Philippines. Among the flurry of such inflows is Australian, what with the country’s AUD89.9 million (P3.32 billion) worth of official development assistance (2023 to 2024) to the Philippines. This came at the heels of a productive meeting between Australian Foreign Minister Penny Wong and DFA Sec. Enrique Manalo last week, a fund that will be channeled mostly to programs on inclusive economic growth, education, training and scholarships, disaster and climate resilience, and peace and stability in the Bangsamoro. Ongoing cooperation in the areas of science and innovation, people-to-people exchanges, law and justice is also uppermost, as well as defense, maritime, and counter-terrorism. Wong said Australia considers providing drones and other technology as a part of maritime cooperation package to buttress the Philippines’ position in waters adjacent to many sovereign interests. Manila and Canberra are a long-standing “important security partner” in the region according to Wong, who added that Australia also thinks trilateral partnerships with the Philippines on joint patrols in the West Philippine Sea is also possible. The fund is on top of Canberra’s AUD10.95-million (P405 million) pledge for the establishment of a new immunization information and strengthened laboratory network and surveillance systems in the Philippines for health emergencies like the recent pandemic. The Philippines had received approximately P3.1-billion ODA last year. The bulk of it was pivotal in the realization of the peace process in the Bangsamoro. The two countries are exploring investment cooperation on critical minerals and the improvement of two-way tourism. “Work and holiday visa arrangement” are also high on the negotiation table. Wong’s high-level visit to Manila earlier this month may serve as a precedent to a possible in-person meeting between President Marcos Jr. and Australian Prime Minister Anthony Albanese come the Asean-Australia Summit in March 2024, or a bilateral visit soon. The post Australia’s Phl stakes up appeared first on Daily Tribune......»»
Vista Land books P7.7-B 2022 profit
Integrated property developer arm of the Villar group, Vista Land & Lifescapes Inc. booked a double-digit profit growth last year driven by what is now commonly known as consumers’ revenge spending. The company disclosed over the weekend that core net income reached P7.7 billion in 2022, or 10 percent higher than the bottom line recorded in the previous year. “Our leasing business delivered in 2022 a growth momentum given the return to normalcy and the so-called revenge spending,” Vista Land president and CEO Manuel Paolo Villar said. “The footfall of our malls has been improving and even exceeded pre -pandemic levels during weekends and holidays,” he added. For his part, Vista Land chairman Manuel Villar Jr. said: the company remains bullish on the industry for this year, especially with the level of projects launched last year. Confidence returns “We have a pipeline of projects going into 2023 and we are slated to launch more projects this year as buyer’s confidence is back,” he added. Vista Land also saw its consolidated revenue clocked in at P29.8 billion in 2022. Rental income amounted to P13.7 billion while real estate revenues were at P12.8 billion. Meanwhile, gross profit was at P7.2 billion while EBITDA posted a six percent increase to P16.7 billion. Total assets stood at P322.5 billion as of the end of December 2022 while equity was at P123.7 billion. Last year, capital expenditure was at P22.5 billion mainly for construction and land development. The company launched a total of P40 billion worth of projects across the country which was four times higher than the projects launched in 2021. The post Vista Land books P7.7-B 2022 profit appeared first on Daily Tribune......»»
Vivant unit bullish on solar rooftops
COREnergy Inc., a wholly owned unit of Vivant Corp., is bullish on the growth of its solar rooftop solutions business this year......»»
Fil-Chinese businesses bullish on economic growth
A Filipino-Chinese business group expects the Philippine economy to grow between 6.5 percent and 7.5 percent next year, driven by positive economic and demographic fundamentals......»»
ASEAN businesses bullish on Philippine growth prospects
Business leaders in the Association of Southeast Asian Nations are bullish about the growth potential of the Philippines with the revival of the public-private partnership scheme under the new administration, according to Standard Chartered Bank......»»
Biz risk consultancy exec bullish on BOT Law amendment
MANILA - An official of a business risk and security consultancy firm is optimistic about the amendment in the country's Build-Operate-Transfer (BOT) Law, citing its benefits to the government's bid to hike infrastructure spending.Greg Wyatt, director of business intelligenc.....»»
Nokia bullish on Philippines prospects
Nokia is bullish on the growth of its business in the Philippines as the company looks to capitalize on the country’s 5G transformation in the next few years......»»