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Restaurant Row (08/01/19)

Kids Eat Free at Pancake House on Weekends

WEEKENDS mean family time, and at Pancake House kids dine for free on weekends. From Friday to Sunday, children 12 years old and below with two adult companions can get a free meal. They can choose from Children’s Classic, Kids Mac n’ Cheese, or Mini Classic Pancakes with Candy-coated chocolate bites. Kids can now also try brand-new items for a limited-time only: the Mini Waffle Foldover (P120) and Cookies and Cream Milkshake (P130). These special offers are valid for dine-in transactions only, in participating Pancake House stores until Aug. 31. For more information, please visit www.facebook.com/PancakeHousePhilippines.

Mooncakes at Shangri-La the Fort’s Canton Road

CANTON ROAD at Shangri-La at the Fort invites guests to partake of its sumptuous mooncake selection. This year, Canton Road marries classic and contemporary flavors in its selection: traditional Pineapple, White Lotus with Salted Egg Yolk, Red Bean and Pine Nuts, Mixed Nuts and Black Sesame, and contemporary flavors like Matcha, Ube Macapuno and Apple Cinnamon. Prices for individual mooncakes starts at P388++ per piece. Canton Road also introduces the Stellar Snow Skin Collection, miniature snow skin sweets available in Mango, Salted Egg Yolk Cream, and Ube Macapuno at P388++ per piece. The restaurant also offers customizable mooncake hampers with goodies like Ming Cha Pu Er tea, Anakena red or white wine, flower dry mushrooms, Vegetarian XO Sauce, or cheese cashew nus. Prices may vary depending on the content of the hampers. There is also a mooncake counter at the hotel’s lobby on Level 2 where custom boxes of mooncakes are available for prices ranging from P2,888++ to P4,088++. Orders are open until Sept. 12. Customers can enjoy 25% savings when they pre-order their mooncake boxes and hampers until Aug. 10, while Golden Circle members can avail of 10% savings on all mooncake boxes until Sept. 13. For orders, reservations and inquiries, contact the restaurant at 820-0888 or e-mail cantonroad@shangri-la.com.

All-you-can-eat at Ogetsu Hime

AT Ogetsu Hime — which brings in seafood from the famous Tsukiji Market in Tokyo regularly — customers can enjoy a selection of Japanese fare at an order-all-you-can price with its buffet experience. Customers can also enjoy unlimited US Angus Tenderloin, premium sushi, and more than 100 specialties on the clean plate price when they dine in the restaurant’s two branches. Pay P988 for lunch Monday to Friday; P1,088 for dinner from Monday to Friday; and P1,088 Lunch and Dinner during holidays and weekends throughout the year. Check out Ogetsu Hime’s Facebook page for the full details. Ogetsu Hime branches are at SM Megamall and SM Aura Premier. For inquiries and reservations call Ogetsu Hime at SM Aura Premier at 519-9840 or 0917-809-6585 and SM Megamall at 470-8241 or 0917-576-2377.

Share drinks at the 22 Prime Lounge

22 PRIME LOUNGE at Discovery Suites in the Ortigas business district has two Happy Hour Deals: Beer O’Clock, which offers 3-in-1 beer flights from Engkanto Craft Beers, highlighting their Lager, Blonde Ale, and Pale Ale; and Cocktail Away! which offers buy-one-take-one cocktails like Red Square Dancer, Madras, Lemon Drop, and Gin Cucumber, with more flavors coming in succeeding months. Unlimited Sangria & Mojito is also set to be launched this month. Happy Hour at the 22 Prime Lounge is available daily from 5 to 10 p.m. The Lounge is located at the 22nd floor of Discovery Suites, 25 ADB Ave., Ortigas Center, Pasig City.

Classic European cuisine at Pinot

ONE of the newest restaurants in town, Pinot presents classic European cuisine by chef Markus Gfeller in a relaxed fine dining setting. The menu combines classic European cuisine such as premium roasts along with new items in Prix Fixe sets that are crafted for every type of celebration. The prix fixe menu that has options for two-course, three-course, and four-course meals. This menu includes popular starters such as lobster and crabmeat salad, duck liver & truffle pate, lobster sago, or the seared foie gras. Mains include Wine-braised beef cheeks, Rack of Bobby veal, and Kurobuta pork belly. Dessert selections include Pineapple Colada, White Chocolate Flan, Praline Chocolate, Raspberry Semi Freddo, and Tart au Chocolate. There are also carving selections like Whole roasted maple leaf duck served two ways (Breast with black berry coulis and Ragu a l’Orange with coconut adlai), a whole Rack of lamb that is herb crusted with ratatouille and garlic potato purée, and US Ribeye on the bone with Bearnaise and Red Wine sauce, mushrooms and creamed spinach and French fries. There is also a seven-course chefs tasting menu. There is no corkage fee for guests who want to bring in their own wines if they order a full meal, which at Pinot starts at P1,500 for two-course, P1,900 for three-course, and P2,300 for a four-course prix fixe. Pinot is at The Spa Building, Lane P, Bonifacio High Street, Bonifacio Global City, Taguig, and is open Mondays to Saturday from 5 p.m. onwards. For reservations, call )998-586-4230.

Flair@5 at Vu’s Sky Bar and Lounge

IN CELEBRATION of Marco Polo Ortigas Manila’s 5th anniversary, Metro Manila’s most sought-after flair-tenders showcase their skills at Vu’s Sky Bar and Lounge on Aug. 16, 10 p.m. Flair-tending, or flair bartending is the skilful play of cocktail-mixing movements through the use of bar tools and bottles, being thrown in the air for a show. For reservations, call 720-7720 or e-mail restaurant. mnl@marcopolohotels.com.

Popeyes opens in Alabang

POPEYES fried chicken restaurant opens its second branch at the ground floor of Alabang Town Center, Muntinlupa, with a menu featuring original honey biscuits, Cajun fries, and fried chicken that’s packed with distinct Cajun-inspired flavors from Louisiana, USA. Also on the menu are hazelnut and white chocolate biscuits and Popeyes Spaghetti, their exclusive addition to the menu in the Philippines. To learn more, visit www.popeyes.ph.

Park Inn by Radisson Hotel soon to open in SM City North Edsa complex

SM HOTELS and Convention Corp. (SMHCC) will soon open the Park Inn by Radisson North Edsa in Quezon City.

Park Inn by Radisson North Edsa is a 238-room hotel that is linked to SM City North Edsa, and is part of the 675,000-square meter (sq.m.) development.

The hotel is targeting both domestic and international travelers with amenities such as a fitness gym and an outdoor pool.

Park Inn by Radisson North Edsa is an ideal venue for meetings and social events, with a 162-sq.m. function room Banahaw which can accommodate up to 100 persons and the Makiling Grand Ballroom that can accommodate up to 600 persons.

The main lobby on the 7th level welcomes guests with a view of the outdoor pool. The “The Living Room” concept allows guests to socialize and unwind at the lobby.

Casa, Urban Table is the hotel’s all-day dining restaurant with an option for alfresco dining. Terraza on 7 is the poolside bar that provides guests with a city view. The hotel also has a grab-and-go corner Dash that is open 24/7.

Park Inn by Radisson North Edsa is within short driving distance to Quezon City’s prime business and entertainment districts, as well as transportation hubs.

SMHCC’s portfolio of hotels and convention centers include: Conrad Manila, Radisson Blu Cebu, Taal Vista Hotel, Pico Sands Hotel, Pico de Loro Beach and Country Club, Park Inn by Radisson Davao, Park Inn by Radisson Clark, Park Inn by Radisson Iloilo and the SMX convention centers located in Taguig, Pasay City, Davao and Bacolod.

Singapore Life looking to enter Philippine market

SINGAPORE LIFE, a multinational, digital-only life insurance company, is expected to enter the Philippines soon, according to a senior official of the Philippine Life Insurance Association (PLIA).

On the sidelines of the PLIA anniversary banquet Tuesday night, PLIA President Hans Loozekoot, who is also the president and chief executive of Troo, said life insurance company Singapore Life is currently seeking a license to operate in the Philippines and is expected to boost competition with its digital approach.

“Singapore Life is seeking license in the Philippines and they will bring in more, expect a digital-only approach. And I encourage that because it will also keep the rest of the insurance companies on their toes, it keeps the pressure up because we all need to embrace change and its good to have a few companies from outside,” Mr. Loozekoot told the reporters.

Singapore Life received the Insurance Startup of the Year Award during the Insurance Asia Awards 2018 held at Singapore July last year.

Mr. Loozekoot said foreign companies entering the Philippines may eventually strengthen the life insurance sector in the country.

“So it’s good to have that dynamics coming in. And if foreign companies with strong local players bundle again, it’s about working together well to build a much stronger Philippine life insurance sector,” he said.

“I cannot comment on what they want. All I know is that they are really eager to enter the Philippines. That’s all I know and I welcome them. I’d like to work with them as well,” the official said when pressed for further details.

In an earlier email, Insurance Commission (IC) Chief Dennis B. Funa hinted that discussions were ongoing for the entry of a “major multinational insurance company” into the country.

“One interesting development is, we have ongoing discussions for the entry of a major multi-national insurance company that uses primarily digital platform in its business processes — that will be a first for this market and something to really look forward to,” he said in the email.

Earlier this month, IC reported that the insurance industry posted a higher net income in the first quarter given strong growth from all sectors.

The industry’s net income grew 46% to P11.72 billion in the first three months of the year from the P8.04 billion booked in January-March 2018, according to data based on unaudited reports submitted to the IC by life and non-life insurance companies and mutual benefit associations (MBA).

Broken down, the life insurance sector posted a P9.08-billion net income in the three months ended March, 44% higher than the P6.31 billion reported last year.

On the other hand, the combined net profit of the non-life insurance sector surged 121% to P1.04 billion from P470 million tallied in the first three months of 2018, attributable to “huge” growth in premium income, commissions, as well as other underwriting income.

The MBA sector’s income was at P1.6 billion in the first quarter, 27% higher compared to the P1.26 billion posted in the same period in 2018. — B.M. Laforga and K.A.N. Vidal

Phinma Energy’s losses swell in 2nd quarter

PHINMA Energy Corp. reported a P406.60 million in net loss attributable to its equity holders in the second quarter, more than four times bigger than the P91.57-million loss recorded in the same period last year, as revenues failed to keep up with the increase in cost and expenses.

The quarter’s financial report is the first time submitted by the company’s new owners. The disclosure was signed by Eric T. Francia, its new president and chief executive officer. He holds the same posts in Ayala-led AC Energy, Inc., which bought Phinma Energy earlier this year.

Revenues during the quarter reached P4.932 billion, up 11.5% from P4.42 billion. The bulk came from the sale of electricity at P4.925 billion. The company also derived some income from dividend and rental gains.

The company’s top-line figure, however, was outpaced by its cost and expenses, which hit P5.08 billion, or higher by 3.9% compared with P4.89 billion a year ago.

In the first half, net loss attributable to the equity holders of the parent firm reached P551.87 million, expanding more than 10 times the level in the same semester last year. Revenues during the semester reached P8.32 billion, up 2.6% from P8.11 billion previously.

In contrast, Phinma Energy’s subsidiary Phinma Petroleum and Geothermal, Inc. (PPG) trimmed its losses attributable to equity holders to P7.87 million during the quarter from P51.54 million a year ago.

During the semester, PPG recorded a net loss of P9.42 million, an improvement over the P57.61 million losses in the same period last year.

On Feb. 7, 2019, Philippine Investment Management (Phinma), Inc., Phinma Corp. and AC Energy signed an investment agreement for the latter’s acquisition of their combined 51.476% stake in Phinma Energy via a secondary share sale through the Philippine Stock Exchange (PSE).

On April 15, 2019, the Philippine Competition Commission approved the sale.

AC Energy made a tender offer for other shareholders on May 20, 2019 to June 19, 2019, with a total of 156,476 public shares of Phinma Energy tendered.

On June 24, 2019, the PSE confirmed the special block sale of Phinma Energy shares to AC Energy. On the same day, AC Energy subscribed to 2.632 billion shares of Phinma Energy.

As of June 30, 2019, AC Energy directly owns 66.34% of the parent company’s total outstanding shares of stock.

As a result the direct parent company or intermediate parent company of Phinma Energy is AC Energy, while the ultimate parent company is Mermac, Inc.

Phinma Energy is managed by AC Energy under an existing management agreement, which was assigned by Phinma, Inc. to AC Energy on June 24, 2019.

On Wednesday, shares in Phinma Energy fell by 2.9% to P2.34 each, while those of PPG dropped by 1.39% to P5.66 each. — Victor V. Saulon

Drones do deadly work so you don’t have to

HERE’S a job any worker would be happy to pass off to a drone: Imagine crawling down a ladder into the vast darkness of a 20-story-high storage tank filled with toxic chemical fumes to spend hours searching for corrosion.

More than a thousand US laborers have been killed working in confined spaces like that in the past decade. One of them was 43-year-old Clinton Miller, an AkzoNobel NV employee who passed out after entering a tank to retrieve a piece of trash at a North Carolina chemical plant last year. Oxygen levels were found to be just 11% inside the structure, according to a federal incident report.

Enter the ever-more capable drone. Companies including Dow Inc., AT&T Inc., BASF SE and Royal Dutch Shell Plc have begun assembling fleets of the flying automatons to take over their most dangerous jobs. Ascending several hundred feet in the air to inspect tanks and towers, squeezing through claustrophobic tunnels to replace a faulty part, or peering into the maw of a flame-belching smokestack — all are jobs that robots are being designed to do, companies say.

“We look at these tasks and say, ‘Is there a better way that we can do this without exposing the worker to risk?’” said Chris Witte, manager of chemical giant BASF’s Freeport, Texas, site. “The answer is yes. We can send a drone in.” Drones now fly every day at the Freeport plant, keeping workers off scaffolding and out of tanks.

For all the talk of automation and robotics replacing human labor, the new uses of drones show how technology can cut costs for companies while dramatically reducing risk, and even saving lives. They also show why businesses are pressing hard in Washington for the ability to use drones in more situations.

Inspections of gas flares at Shell’s refineries used to take days, said Randy Burow, Shell’s health and safety manager. To get workers close enough to the flame-spewing stacks to check the pilot light, the system had to be taken offline, then workers were hoisted in a basket several hundred feet high to the top of the stack. Now drones can complete the inspection of still-burning flares in a few hours without a worker ever leaving the ground.

In 2017, 166 US workers died in confined spaces. But that number pales when compared with the 887 killed by falls, the second-biggest cause of workplace deaths after car accidents, according to Bureau of Labor Statistics data.

AT&T has invested in a large fleet of drones to help inspect its 65,000 cell towers in the US, which can rise as high as 1,000 feet. Working on them is especially perilous: Tower climbers fall to their death at nearly 10 times the rate of construction workers.

The telecom giant has used drones to eliminate 5,000 tower climbs in the past 18 months, said Art Pregler, the director of AT&T’s drone program.

With high-powered cameras attached, increasingly agile drones operated by an earthbound human can soar to the top of a tower in minutes, float among the steel frames and zoom in for close-up inspections. Drones send images so detailed that workers on the ground can count the threads on a bolt, said Pat Dempsey, who oversees telecommunications maintenance at power utility PSEG Inc. “The fact you don’t have to make a person climb that tower, from a safety standpoint, it’s a game changer.”

Federal safety regulators are still reviewing the 2018 incident that killed ​AkzoNobel’s employee. The company declined to comment.

Even with precautions including safety gear, air monitoring and rescue workers on standby, things can still go wrong with so-called confined-space entries by people. The scale of some of the tanks is massive, comparable to a 2-inch-tall person crawling into a household water heater unit, said Billy Bardin, Dow’s global technology director.

Dow, one of the world’s largest chemical makers, said it used robots for more than 1,000 confined-space entries in 2018, and for another 1,000 external inspections that involved high elevations, significantly cutting down on the risks to its workers.

“That kind of entry is one of the most potentially hazardous activities that we do,” said Bardin.

The company’s goal is to reduce the number of human entries into such confined spaces to zero by 2025. That would require developing drones that can conduct repairs and other tasks, rather than just broadcast video, according to Bardin.

Technology is speeding in that direction. The average commercial drone costs about $25,000, but as requirements become more specialized, the price can rise as high as $250,000, said Chuck Dorgan, sales director at German manufacturer Microdrones GmbH.

“I get asked by companies almost every week if we can do something that I’ve never thought of doing with a drone,” said Ed Hine, vice president for operations at PrecisionHawk Inc., another drone company.

Apellix, a commercial drone startup in Jacksonville, Florida, is designing drones to paint multistory buildings and industrial structures — a job that now requires workers to be elevated with bucket lifts or scaffolding.

“Nobody wants to be at the top of a 200-foot man-lift in 98-degree Southern heat painting an industrial structure,” said company co-founder Jeff McCutcheon.

Replacing humans can get complicated: The drones must be tethered to a paint source on the ground, batteries must be periodically recharged and windy conditions can blow paint off target. But McCutcheon predicts within five years drones will allow a two-man ground-based crew to paint the exterior of a Walmart in four hours instead of several days.

The number of commercial drones registered with the Federal Aviation Administration exploded in 2018 to 277,000, though that’s still enough to do only a small fraction of industry’s dangerous jobs.

Regulations that restrict how far, how high and where drones can fly are expected to loosen in the next few years, leading to wider commercial adoption. The FAA estimates commercial drones could triple by 2023 — and possibly increase as much as fivefold.

Companies have every reason to accelerate drone use as quickly as they’re allowed.

“Drones save us downtime, save cost, save on productivity for our maintenance personnel,” said Dow’s Bardin, “and they eliminate having to put a person in that potentially hazardous environment.” — Bloomberg

Afternoon Delight

GETTING INVITED to media wine events is fairly common for a writer like myself, but an invite for an afternoon tasting, and on a very busy working Monday, is normally an automatic “Hell No!” from me. But this invitation came from my good friend Damien Planchenault of the Okada Manila, and the winery being featured in the tasting just happened to be Vega Sicilia. This was more than enough incentive for me to ditch my afternoon office routine last Monday and to drive some 20 kilometers to make the 3 p.m. call time.

RIBERA DEL DUERO AND VEGA SICILIA
Ribera del Duero literally means “Duero riverbank” in English. It is a modest 21,000+ hectare vine-haven located in Spain’s autonomous region of Castile-Leon, in the north. The Duero river, as it is called in Spain, crosses from north central Spain to Porto in Portugal where it is called the “Douro.” This river, stretching almost 900 kilometers in length, provides the riverine influence that is so valuable to the overall terroir of the Ribera del Duero wine region.

The most legendary Spanish winery, Vega Sicilia, paved the way for the rise to fame of the Ribera del Duero region. Established in 1864, Vega Sicilia was not only one of the oldest recorded wineries in all of Spain, but it was also the pioneer in planting French Bordeaux varietals, from Cabernet Sauvignon and Merlot to Malbec. These varietals blended with majority Tempranillo (known as either Tinto Fino or Tinta del Pais in Spain) resulted in luscious wines with fantastic longevity. Since 1982 — the same year Ribera del Duero got granted its Denominación de Origen (DO) status — the winery has been under the very progressive ownership of the Álvarez family. Among hardcore Vega Sicilia fans are Prince Charles (the next King) of the British Royal Family and Hollywood star couple Kurt Russell and Goldie Hawn.

The Álvarez family, with Pablo Álvarez at the helm, further expanded the company with the establishment of new wineries: Bodegas Alion (1992) from same Ribera del Duero, Tokaj-Oremus (1993) from Tokaji Hungary and the only non-Spanish estate of the company, Bodegas Pintia (2001) in nearby Toro region, west of Ribera del Duero, and Macan (2004) from Rioja, a partnership with no less than Bordeaux royalty, Benjamin de Rothschild.

AMAZING TASTING SESSION AT THE LA PIAZZA
While there was no amazing water fountain show to entertain us during the wine tasting session at Okada’s flagship fine-dining restaurant La Piazza, the wine line-up presented for us at the Vega Sicilia afternoon tasting session, done in collaboration with Terry’s Selection and Happy Living Corp., was as good as it gets. Below are my customary tasting notes in the correct sequence of tasting.

• Macan 2013 Rioja — This is the joint project between Vega Sicilia owner Pablo Alvarez and Benjamin de Rothschild entering the highly competitive Rioja region — arguably Spain’s preeminent wine region and the first region to get a DO status in 1925, and first DO to be promoted to DOC (“C” meaning Calificada) in 1991. Rioja is where Marques de Murrieta, Marques de Riscal, Bodegas Muga and even more upstarts like Roda and Altanza are all thriving in. Putting the two biggest names from Ribera del Duero and Bordeaux together will surely get attraction, and the Macan wines have done well since its inception. I am trying my Macan wine for the first time, and it was surely a very pleasant experience.

“This 100% Tempranillo wine is quite racy on the nose, very fresh with cut-grass notes, black currant, minerals, and peppercorn, it is quite dry, with very nice acidity, the body is supple, and the finish has charred wood with dried berries.”

• Alion 2014 Ribera del Duero — Bodegas Alion is Vega Sicilia’s second winery, and located just over 10 kilometers from Vega Sicilia. Alion has always been known as the kid brother of Vega Sicilia. For years, Alion has been the “go to” Ribera wine for those who can not afford Vega Sicilia. I am shamelessly and admittedly one of them. Unlike Vega Sicilia, Alion is made from 100% Tempranillo (or Tinto Fino).

“Inky, dark, herbaceous, cinnamon bark, very clean on the flavor, with crisp acid, bitter-charred peppery finish.”

• Pintia 2013 Toro — Bodegas Pintia is Vega Sicilia’s entry in the nearby Toro region. This is one region that Vega Sicilia has helped expand because of the immense popularity of Pintia. Pintia is made from 100% Tempranilla (in this region it is called Tinta de Toro). I have always loved Toro wine for its rawness, rustic-ness and power, and it can really age too as I drank some very nice Farina Campus Toro 2000 and 2003 vintages just a week ago.

“Earthy, mushroom, quite complex on the nose, but on the palate, the wine is amazingly soft, tannins still rigid but already approachable, rich in dark fruit flavors, long and lingering at the end.”

• Vega Sicilia Valbuena 5° 2011 Ribera del Duero — The 5° refers to the five years the wine spent in both oak and bottle aging prior to its commercial release. Valbuena 5° is made from majority Tempranillo, with Cabernet Sauvignon and Merlot.

“Charming nose with so much happening as wine is being swirled, licorice, black currant, red cherries, violets, the texture is super silky, with ripe juicy round finish.”

I have tasted at the very least six different vintages of the Valbuena 5° and this 2011 is my favorite to date.

• Vega Sicilia Unico 2005 Ribera del Duero — This flagship wine also happens to be Spain’s most iconic wine. Unico is made from majority Tempranillo with a dose of Cabernet Sauvignon — this is the original blend that helped Vega Sicilia catapult Ribera del Duero wines into fame. Unico is released after 10 years, and is one of the few wineries in the world to have this discipline for still wines.

“The wine is still quite heady, with cedar, fresh forest nose, the plums and fruits started to beautifully surface after more aeration, licorice, orange peel, peppercorn, texture is grainy with lots of punch, still continues to evolve on the glass, full-bodied, rich and very long at the end.”

• Oremus Aszu 3 Puttonyos 2013 Tokaj — Tokaj, Tokaji, or Tokay is Hungary’s most popular region and home of the furmint grape. Oremus represents Vega Sicilia’s only foray into white wines. Puttonyos is a measurement of residual sugar, and 3 Puttonyos means 60 gms per liter.

“Plastic resin nose, white flower, marmalade, honeyed, very good acid backbone to make it very refreshing, sweet apricot taste, long and succulent finish.”

With these kinds of wines, I am now reconsidering my stance on afternoon wine tastings.

All of the above tasted wines are available for purchase at the Terry’s Selection gourmet shops.

The author is a member of the UK-based Circle of Wine Writers (CWW). For comments, inquiries, wine event coverage, and other wine-related concerns, e-mail the author at protegeinc@yahoo.com. He is also on Twitter at twitter.com/sherwinlao.

How PSEi member stocks performed — July 31, 2019

Here’s a quick glance at how PSEi stocks fared on Wednesday, July 31, 2019.

 

Philippine tax effort improves in 2017, second-highest among Southeast Asian economies

Philippine tax effort improves in 2017, second-highest among Southeast Asian economies

SolGen appeals Supreme Court ruling on power deal competitive selection

THE Office of the Solicitor-General (OSG) has appealed a Supreme Court (SC) decision ordering a competitive selection process (CSP) on all power supply agreements (PSA) submitted by distribution utilities (DUs) to the Energy Regulatory Commission (ERC) on or after June 30, 2015.

In 74-page motion for reconsideration, the OSG, representing ERC, asked the court to deny for lack of merit the November 2016 petition of consumer group Alyansa Para sa Bagong Pilipinas, Inc. which sought to nullify ERC resolutions which effectively postponed CSP requirements for PSAs.

It also asked to remand the case to the Court of Appeals to determine PSA compliance with CSP.

The OSG said the court mistakenly found ERC to have committed grave abuse of discretion in issuing its 2016 Clarificatory Resolution restating the effectivity of 2015 ERC CSP Guidelines, saying it did not postpone the conduct of CSP or allow DUs to avoid the requirement.

“The 2016 Clarificatory Resolution merely postponed the applicability of the ERC’s prescribed guidelines for the conduct of said CSP, particularly the minimum provisions that should be contained in the Terms of Reference, the conditions which allowed for a direct negotiation, and other parameters which are contained in the 2015 CSP Guidelines,” according to the motion.

“In short, what the ERC suspended is not the mandatory requirement for the conduct of the CSP itself but the rules or guidelines on how said CSP should be undertaken,” it added.

The high court on May 3 ruled the ERC committed “grave abuse of discretion amounting to lack or excess of jurisdiction” when it postponed the effectivity of the CSP requirement in the Department of Energy (DoE) in Circular No. DC 2015-06-0008.

The SC said ERC resolutions in October 2015 and March 2016 postponed the effectivity of the auction requirement for 305 days from June 30, 2015 to April 29, 2016, and noted that 90 PSAs were submitted for the Commission’s approval from April 16 to 29, 2016 with some having terms spanning more than 20 years.

The OSG also said ERC did not commit grave abuse of discretion with the two resolutions as the Electric Power Industry Reform Act has “granted the ERC quasi-legislative powers” to issue rules and regulations on various matters including guidelines, standards, and procedures for CSP.

It also maintained that the 2015 ERC CSP guidelines did not exempt PSAs from being procured through CSP as Section 4 of the guidelines it issued refers only to the minimum terms of reference or conditions and it only took effect on Nov. 7, 2015.

“(P)SAs entered into prior to this date could not be expected to comply with the 2015 ERC CSP Guidelines, as they were inexistent at that time. Moreover, this is consistent with the general rule requiring prospective application of rules and regulations issued by administrative agencies such as ERC-a regulatory body,” the OSG said.

It noted that while the 2015 DoE Circular took effect on June 30, 2015 and prescribed standards in the conduct of CSP such as the conduct of bidding through a third party, it could not be enforced at that time as there were no concrete implementing guidelines, among other reasons.

The OSG also said the PSAs filed during the period of the implementation of the ERC’s resolutions complied with the 2015 ERC CSP Guidelines. PSAs filed on June 30, 2015 until Nov. 6, 2015 has also complied with the selection process.

The DoE last month urged the power distribution utilities to comply with the Supreme Court’s decision requiring CSP for their PSAs. — Vann Marlo M. Villegas

Filinvest wins PEZA incentives for Clark locators

THE developers of New Clark City signed an agreement with the Philippine Economic Zone Authority (PEZA) outlining the incentives available to locators.

In a statement, the joint venture of Filinvest Land, Inc. (FLI) and Bases Conversion Development Authority (BCDA) said it signed a registration agreement with PEZA that covering fiscal and non-fiscal incentives for locators in Filinvest at New Clark City.

Filinvest at New Clark City is the group’s township within the 288-hectare estate.

“We thank BCDA and PEZA for formalizing the Registration Agreement for New Clark City. This will greatly encourage businesses and investors to locate in Filinvest at New Clark City,” Filinvest BCDA Clark, Inc. Vice President Francis B. Ceballos said in a statement.

Filinvest at New Clark City will house a residential zone, commercial, mixed-use offices, institutional zone, and a 62-hectare Innovation and Logistic Park as part of the first phase. This industrial zone is set to serve as the economic base of the city, and is scheduled to be operational by the first quarter of 2020.

The company said the industrial zone will target businesses involved in light manufacturing, logistics, storage and warehousing, cold storage, and food processing.

“With the majority of the project’s area dedicated to the industrial zone, it is envisioned to support global businesses with superb accessibility via major infrastructures… It will be a fully integrated development bringing together top international locators and investors with sustainable business and industrial community,” Mr. Ceballos said.

FLI will develop another 60 hectares in the second phase of the development.

Filinvest at New Clark City is part of the 9,450-hectare New Clark City in Capas, Tarlac. It is next to the New Government Administrative Center, as well as the New Clark City Sports Complex.

The company signed an agreement to develop the property with BCDA in 2016 for 50 years.

FLI’s net profit attributable to the parent rose 24% to P1.79 billion in the first quarter, following a 17% surge in gross revenue to P6.83 billion.

Incorporated in 1989, FLI is the real estate arm of conglomerate Filinvest Development Corp., which also has investments in banking, power, sugar, and the hospitality sector.

FLI fell 2.56% or five centavos to close at P1.90 on Wednesday. — Arra B. Francia

US to assist in upgrading school system in Bicol, Western Visayas

THE US government announced a partnership with the Department of Education (DepEd) for a P2-billion project aimed to improve the reading, math, and socio-emotional skills of more than two million students.

In a statement on Wednesday, the US Embassy announced the Advancing Basic Education in the Philippines (ABC+) program in partnership with the DepEd. The project costs $38.5 million or around P2 billion and will provide assistance to two million students in Regions 5 (Bicol Region) and 6 (the Western Visayas). The project is also to be implemented with RTI International, The Asia Foundation, SIL LEAD, and Florida State University.

US Chargé d’Affaires John Law said that ABC+ is part of US efforts to upgrade the education system in the Philippines, in which this will help alleviate poverty by allowing open doors to education for those in need.

“As a friend, partner, and ally, the United States remains committed to the quality of basic education for the benefit of all Filipinos,” he said.

Education Secretary Leonor M. Briones said that the program is crucial to the goals of DepEd to improve the education system nationwide, “especially now that we are intent to pivot our focus from improving access to enhancing the quality of basic education.”

ABC+ also aims to improve teacher training and management. The project hopes to improve teachers’ and administrators’ capacity to address the needs of schools in Bicol and Western Visayas. ABC+ will work with local government units (LGUs) and the private sector to ensure the program is backed by adequate resources.

The Philippine Chamber of Commerce and Industry (PCCI) board member Alberto P. Fenix, Jr. said that the PCCI, a partner organization for the program, “fully support(s) this project, which will better prepare our children for the world of work.” — Gillian M. Cortez

PCSO suppliers seeking clarity on equipment leases

COMPANIES leasing lottery equipment to the Philippine Charity Sweepstakes Office (PCSO) are taking steps to renew their agreements with the agency, after the administration’s order allowing the resumption of lotto operations.

In a disclosure to the stock exchange Wednesday, Pacific Online Systems Corp. (LOTO) said it has an “in principle” deal with the PCSO to renew equipment leases.

LOTO supplies lottery systems equipment to the PCSO in the Visayas and Mindanao regions, as well as the agency’s Keno operations across the country.

The company’s ELA with the PCSO expired yesterday, July 31.

“Please be advised that we have had an agreement in principle on the terms of a further renewal thereof pending the completion of PCSO’s process to procure, by public bidding, a new online lottery system,” the company said.

“Until a formal agreement has been entered into, however, we will be unable to make further announcements thereon.”

Philippine Gaming Management Corp. (PGMC) said it has also filed a claim with the PCSO that it did not fail the bidding for its equipment leases. PGMC leases lottery equipment for the PCSO’s Luzon operations.

PGMC is an affiliate of listed firm Berjaya Philippines, Inc., which holds a 39.99% stake.

Berjaya previously had a 99.99% equity stake in PGMC, but has decided to gradually trim its ownership in the firm to 79.99%, then to 39.99% earlier this month.

Shares in LOTO and Berjaya recovered after President Rodrigo R. Duterte lifted the ban on lotto operations Tuesday night, four days after he ordered the shutdown of all PCSO’s gaming operations.

LOTO shares soared 11.15% or 29 centavos to close at P2.89 each, while shares in Berjaya jumped 4.20% or 10 centavos to finish at P2.48 apiece.

While lotto operations may resume, the president retained the ban on other PCSO games and franchises such as Small Town Lottery, Keno and Peryahan ng Bayan pending the conclusion of an investigation into allegations of illegal and corrupt practices. — Arra B. Francia

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