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SolGen’s role in sedition case questioned

FOUR respondents in the sedition complaint at the Justice department on Friday questioned the Solicitor General’s authority to represent the police, which initiated the case.

Lawyers Arno V. Sanidad and Rene A.V. Saguisag raised the issue before the panel of prosecutors hearing the complaint.

The lawyers are separately representing Jose Manuel I. Diokno, Senators Risa N. Hontiveros-Baraquel and Leila M. De Lima, and former Solicitor General Florin T. Hilbay.

The panel of led by Senior Assistant Prosecutor Olivia L. Torrevillas allowed the respondents to submit their motion and for the Office of the Solicitor General to comment within five days.

Police last month filed a complaint of inciting to sedition, cyberlibel, libel, estafa, harboring a criminal and obstruction of justice against Vice President Maria Leonor G. Robredo and 35 other people whom it accused of circulating a video linking President Rodrigo R. Duterte and his family to illegal drugs.

Also sued was Peter Joemel Advincula, the self-confessed drug dealer who was featured in the videos.

Mr. Advincula had sought legal assistance in filing charges against members of the drug syndicate he formerly belonged to. Later that month, he surrendered to police over estafa charges, and tagged the Liberal Party as behind the propaganda.

Mr. Saguisag, who is representing Ms. Hontiveros-Baraquel, said the Solicitor General should serve as the “tribune of the people,” not the presidential palace’s “lapdog.”

“So it should not sandbag itself into becoming a defender of the attempt of the administration to eliminate all dissent and dissenters,” he told reporters after the preliminary investigation at the DoJ.

Ms. Robredo earlier asked government prosecutors to order the police to give her copies of all the evidence in the sedition complaint. The opposition leader accused the police of violating her rights by withholding evidence.

Human Rights Watch earlier said authorities should drop the “preposterous complaint” against opposition politicians, religious leaders and human rights advocates and it was a “transparent attempt to harass and silence critics of President Rodrigo R. Duterte’s bloody drug war.”

A conviction for incitement to sedition carries a maximum penalty of six years in jail. — Vann Marlo M. Villegas

Duterte appoints new CIIF officials

PRESIDENT Rodrigo R. Duterte has appointed a new president and chairman for the Coconut Industry Investment Fund Oil Mills Group (CIIF OMG), the presidential palace said on Friday.

Alexandor Martos was named president of the CIIF OMG while Emilio S. Teng was appointed chairman.

The CIIF OMG is a state company made up of Granexport Manufacturing Corp., San Pablo Manufacturing Corporation and Legaspi Oil Company Incorporated.

Mr. Duterte also appointed Wendel E. Avisado as the acting secretary of the Department of Budget and Management.

Twenty new prosecutors were also appointed to the Department of Justice while 19 justices were appointed to various trial courts. — Charmaine A. Tadalan

ERC to seek clarification from SC on competitive selection ruling

THE Energy Regulatory Commission (ERC) said Friday that it will seek clarification from the Supreme Court (SC) after the tribunal denied the agency’s motion for reconsideration on a ruling that invalidated a number of power supply contracts that could affect millions of electricity consumers.

In a statement, ERC Chairperson and Chief Executive Officer Agnes VST Devanadera said she had yet to receive a copy of the Supreme Court’s resolution, which was released to reporters on Thursday.

“Nevertheless, should that be the case, we will comply with the directive of the Supreme Court. We only need to seek guidance through a Motion for Clarification on how to implement their Decision particularly on the rates and the continued supply of electricity to the affected public utilities,” she said.

The ERC filed a motion for reconsideration after the Supreme Court announced on May 6, 2019 its decision requiring all power supply agreements (PSAs) forged after June 30, 2015 to undergo a competitive selection process (CSP) to arrive at the least-cost power for consumers.

The high court ruled on a case that questioned the power supply contracts forged by Manila Electric Co. (Meralco) covering 3,551 megawatts (MW) to meet the expected increase in power demand and number of customers.

The PSAs were filed for approval on April 29, 2016 or just before the April 30, 2016 deadline set by the ERC. After that date, contracting parties are required to first undergo a CSP before forging a PSA.

The ERC promulgated its rules on competitive bidding in November 2015 but had to restate its effective date to April 30, 2016 through a resolution in March 2016. The move was opposed by some sectors, leading to the case filed before the court.

With the denial of the motion for consideration, the ERC said the decision would result in the possible immediate termination of 99 affected power supply contracts. The termination will result in the cessation of power supply to 52 distribution utilities (DUs) that are serving 13 million electricity consumers — 9.371 million from Luzon, 1.767 million from the Visayas, and 1.978 million from Mindanao, it added.

The agency said the termination of the contracts could mean a total of 743 MW would have to be sourced from the electricity spot market, particularly: 370 MW in Luzon, 86 MW in Visayas, and 287 MW in Mindanao.

It said current prices in the wholesale electricity spot market (WESM) might range from P5.00 to P8.00 per kilowatt-hour, or higher than the rates forged in the affected contracts at P3.00 to P6.00. It said an increase in the generation charge “may be inevitable.”

The commission added that in Mindanao, there is no electricity market yet to serve as the default source of supply for the power distribution companies, thus without the PSAs they will have no other means to provide enough supply to their consumers, which could result in brownouts.

“We will also need guidance on how prior settlements based on the affected contracts will be evaluated considering the rates that were implemented,” Ms. Devanadera said.

She said the initial calculations of the ERC showed that about P50 billion worth of generated power is involved in the PSAs that were filed within the period covering June 30, 2015 to April 29, 2016, “which we (the ERC) subsequently approved, and were implemented by the concerned parties in the PSAs.”

“[The amount] will be translated to rate adjustments in the consumers’ electricity bill on top of the rate adjustment resulting from sourcing power from the electricity spot market,” Ms. Devanadera said.

Asked to comment, Meralco reiterated that it had already started holding three competitive bidding exercises for power supply contracts.

“As an update, pre-bid conferences for two of the three [CSPs] were conducted yesterday, involving 19 interested bidders,” said Lawrence S. Fernandez, Meralco vice-president and head of utility economics.

In a separate statement, the ERC said it had directed the operator of the wholesale electricity spot market to make the necessary adjustments to the net settlement surplus (NSS) allocations and the corresponding settlement calculations for the June 2018 to May 2019 billing months.

The regulator said the directive to the Philippine Electricity Market Corp. (PEMC) is a result of its findings on the inconsistencies in the share of power generators and customers in the NSS allocations issued by the market operator.

“An audit of relevant PEMC/MO (market operator) systems and operations may be in order. We need to ensure that market processes and transactions are accurately and efficiently carried out so as not to compromise the public benefit of reasonable electricity pricing, as well as to ensure that our consumers are spared from unnecessary burden,” said Ms. Devanadera.

It said upon validation, PEMC/MO reported that the miscalculations were caused by its erroneous application of the formula in its software that is used to determine NSS allocations. PEMC/MO has since applied the necessary corrections, it added.

Ms. Devanadera said the total refund due to Luzon and Visayas consumers amount to P1.403 billion, of which 77% or P1.08 billion will be refunded to consumers in the Meralco franchise area.

About 23% or P321.36 million will be refunded to consumers covered by other distribution utilities and electric cooperatives. The remaining amount at P371 million will be due generation companies, retail electricity suppliers, and directly connected customers.

“We have directed PEMC/MO to immediately effect the refund, no later than the July 2019 billing period to benefit our consumers,” Ms. Devanadera said. — Victor V. Saulon

NEDA INFRACOM endorses NCR transport infrastructure plan

THE National Economic and Development Authority (NEDA) Board’s Committee on Infrastructure (INFRACOM) has endorsed for approval the second transport infrastructure road map for the capital region.

In a statement, INFRACOM said it endorsed to the NEDA Board for approval the results of the Follow-up Survey on the Roadmap for Transport Infrastructure Development for the Greater Capital Region on Aug. 5. The plan is also known as Roadmap 2.

INFRACOM said that by 2022 the plan projects transport costs paid by every commuter to fall to P2.13 billion per day from P3.5 billion in 2017, thereby making the transport system more efficient. Roadmap 2 also analyzed the impact of the Build, Build, Build program and other proposed additional projects on the transport network performance of Mega Manila by 2022, with a longer-term outlook running out to 2035.

The long-term scenario assumes that after the completion of the proposed projects, transport costs will fall to P2.40 billion by 2035.

“We know that Filipinos desire greater mobility. The Philippine Development Plan 2017-2022 also calls for efficiency in cities and connectivity between growth centers and lagging areas to promote growth and reduce regional disparities. This is why we are making our transport system convenient and efficient,” NEDA OIC-Undersecretary for Investment Programming Jonathan L. Uy was quoted as saying.

With assistance from the Japan International Cooperation Agency, Roadmap 2 updated the information of the Roadmap for Transport Infrastructure Development for Metropolitan Manila and its Surrounding Areas (Regions III and IV-A) or the Transport Roadmap which was approved in 2014.

The works include 29 railway projects, 14 road-based public transport projects, two traffic management projects, 15 expressway projects, 9 bridge/flyover projects, and 38 urban road projects, requiring a total investment of at least P2.8 trillion until 2035.

Roadmap 2 also calls for the creation of secondary roads and suburban roads among other transport sub-sector strategies, in line with the proposal to develop growth centers in the north and south of Metro Manila. — Vann Marlo M. Villegas

PSALM announces sale of Laoag City site, sets P70.6-M minimum bid

POWER Sector Assets and Liabilities Management Corp. (PSALM) is selling a property in Ilocos Norte where a diesel-fired power plant used to stand, as the agency continues to look for ways to monetize idle assets.

In a statement on Friday, the company tasked by law to privatize the government’s energy assets announced the sale through public bidding of the Laoag City property with a total area of 3,530 square meters at a minimum bid price of P70.6 million.

It set the bid submission deadline at 12:00 noon of Sept. 5, at its office in North Ave., Quezon City.

“Due diligence activities may be conducted by interested bidders starting 08 August 2019 until two days before bid submission deadline,” it said.

It has scheduled the pre-bid conference for Aug. 22, 2019 to allow prospective bidders to raise their inquiries on the technical aspects of the sale.

Earlier this month, PSALM announced a new deadline for bidding on its real estate assets in Barangay Aplaya, Jasaan, Misamis Oriental and Toledo City, Cebu.

The new bidding schedule is 12:00 noon on Sept. 5. The company said the postponement was to allows interested bidders additional time to conduct their own due diligence activities.

The sale of the two land assets is on an “as is, where is” basis. The properties used to be the location of the dismantled Aplaya diesel power plant and the Cebu diesel power plant but are now either at ground zero or with minimal structures left.

“Proceeds from the privatization of PSALM’s real estate assets will be utilized to augment funds to pay off its assumed financial obligations,” it said.

The asset in Misamis Oriental consists of 49 lots with a total area of about 155,504.00 square meters. The asset in Toledo City consists of 21 lots with a total area of about 129,589.00 square meters. PSALM set the minimum bid prices at P567,626,950 and P171,473,500, respectively. — Victor V. Saulon

Surigao airport initial rehab seen complete by Dec.

SURIGAO Airport is scheduled to reopen for direct flights connecting to Manila by the end of the year with the expected completion of rehabilitation works on its runway.

The Department of Transportation (DoTr) said in a statement Friday it has hired a new contractor for the airport, which is expected to finish the development project by December.

“As instructed by Secretary (Arthur P.) Tugade, focus shall be given on this project so as to make sure that no further delays will be incurred,” Transportation Assistant Secretary for Procurement and Project Implementation Giovanni Z. Lopez said in the statement.

Surigao Airport has been under maintenance since 2017 when it sustained damage after being damaged in a magnitude 6.7 earthquake.

The DoTr said it hired Pacific Concrete (PC) to take over the rehabilitation works after Herbana Builders, the original contractor, was “terminated due to abandonment of the project that led to its continuous disrepair.”

“According to the revised plan, PC shall complete the ongoing preparatory works for the asphalt overlay of the existing 1,000-meter usable runway and the rehabilitation of the unusable portion that was damaged by the magnitude 6.7 tremor,” the DoTr said.

The new contractor was also tasked to expand the runway by 400 meters by the end of the year, and to add 300 meters more by February 2020 to restore the runway’s full length of 1,700 meters before it was damaged.

“Our priority is to be able to complete the extension of the runway to 1,400 meters by end of this year. A longer runway will enable the airport to accommodate bigger aircraft,” Director General Jim C. Sydiongco of the Civil Aviation Authority of the Philippines (CAAP) said. — Denise A. Valdez

Manila Water CEO resigns for ‘personal reasons’ after March supply crisis

MANILA Water Co., Inc. announced on Friday the resignation of Ferdinand M. dela Cruz, who cited “personal” reasons, marking the departure of the president and chief executive officer who was in office at the height of the water crisis that hit Metro Manila’s east zone concessionaire early this year.

He will also leave his other posts in the company, where he also served as director, chief sustainability officer and member of its executive committee. His resignation will take effect on Aug. 31, 2019.

“Our Board of Directors, at its meeting held this afternoon, accepted the resignation of Mr. dela Cruz and elected Mr. Jose Rene Gregory D. Almendras as President, Chief Executive Officer, and Chief Sustainability Officer effective 01 September 2019, as endorsed by our Nomination Committee,” Manila Water told the stock exchange.

Separately, Manila Water’s parent firm Ayala Corp. announced Mr. dela Cruz’s resignation as managing director of the listed diversified conglomerate and that he had availed of early retirement effective Aug. 31, 2019 because of “personal matters.”

Manila Water said its board approved the election of Fernando Zobel de Ayala as chairman of the executive committee in place of Mr. Almendras and as member of the executive committee to replace Mr. dela Cruz effective Sept. 1. The board also elected Sherisa P. Nuesa as member of executive committee effective immediately.

Manila Water said that before Mr. Almendras joined the government in June 2010, he served as the company’s president and chief operating officer from March 30, 2009. It said it was during his time that the company achieved a 100% customer satisfaction rating.

It also said that Mr. Almendras was instrumental in the expansion and growth of the company beyond the east zone.

During his term, Manila Water said it was named one of the “Best Managed Companies in Asia, the Best in Corporate Governance, one of the Greenest Companies in the Philippines, and hailed as the world’s Most Efficient Water Company.”

“In 2011, he was recognized by the World Economic Forum as the new Sustainability Champion for his efforts as President of the Company,” it added.

Mr. dela Cruz’s resignation happened in the same week that the Supreme Court upheld fines amounting to nearly P2 billion on state-led Metropolitan Waterworks and Sewerage System (MWSS) and private concessionaires Manila Water and Maynilad Water Services, Inc. for violations of environmental law.

The court voted unanimously, 14-0, to uphold the decision of the Court of Appeals that found the water agency and its concessionaires liable for violating Section 8 of Republic Act No. 9275, or the Philippine Clean Water Act of 2004.

Maynilad and Manila Water are each jointly liable with MWSS to pay P921.5 million covering the period May 7, 2009 to Aug. 6, 2019 or the date of promulgation of the decision. The court also fined them the initial amount of P322,102 per day subject to 10% increase every two years until full compliance with RA 9275.

In April, MWSS imposed a penalty on Manila Water amounting to P1.134 billion, including a P534.05 million fine and P600 million to help fund the development of a new water supply source. The fine will be refunded to consumers.

The penalty is in relation to the water shortage that started in March in the area being served by the concessionaire.

The company eventually voluntarily waived the minimum charge for its entire client base in March. It also waived a full month’s bill for its most severely affected customers at a cost of nearly P500 million, Mr. dela Cruz earlier said.

Mr. Dela Cruz announced the waiver scheme on March 26 to compensate customers after the water shortage hit them. He had said that if the computation is confined to the waiver of the minimum charge, the cost could reach P150 million.

Before him, Manila Water accepted the resignation in April of Geodino V. Carpio, its chief operating officer, who took “early retirement.” Mr. Carpio first faced reporters on March 12 to explain the water supply problems, which the company said started on March 6.

On Friday, Manila Water fell 1.32% to close at P22.50. — Victor V. Saulon

RLC Q2 net profit rises 22% after opening four new malls

ROBINSONS Land Corp. (RLC) said net profit rose nearly 22% in the second quarter, reflecting the performance of its commercial centers business after the opening of four new shopping malls.

The property developer reported attributable net income of P2.17 billion in the second quarter, up 21.9% from a year earlier.

Revenue grew 18.8% to P8 billion during the three-month period, after a 19.4% increase in revenue real estate operations to P7.45 billion. Hotel operations added P558.7 million, up 11.3% from a year earlier.

Year to date, RLC’s attributable net income is up 20.4% at P4 billion.

Revenue in the first half of the year grew 12.9% to P14.79 billion, of which real estate accounted for P13.71 billion, up 13.1% from a year earlier. Revenue from hotel operations rose 10.6% to P1.08 billion.

“We continue to post strong earnings growth as we remain optimistic about new opportunities. We look forward with much enthusiasm to an even better financial performance in the near future,” RLC President and Chief Executive Officer Frederick D. Go said in the statement.

By business segment, the company’s commercial centers division accounted for 44% or P6.45 billion of revenue, up 11% from a year earlier. This was driven by the growth of mall rental revenue and returns from four new malls opened last year: Robinsons Place Ormoc, Robinsons Place Pavia, Robinsons Place Tuguegarao and Robinsons Place Valencia.

The residential business accounted for 31% of total revenue, totaling P4.67 billion in the first half, up 5% from a year earlier.

Its office buildings segment accounted for 16% or P2.31 billion, up 29% from a year earlier, driven by an increase in rentals and higher renewal rates recorded during the period. The opening of three new offices last year, Exxa Tower, Zeta Tower and Cyberscape Gamma, also added to the increase.

Hotels and resorts accounted for 7% of revenue at P1.08 billion, up 11% from a year earlier, due to the strong performance of Summit Magnolia, Summit Galleria Cebu and Go Hotels branches in Palawan, Bacolod and Davao. Its new hotels, Summit Tacloban, Go Hotels — Iligan and Dusit Thani Mactan Cebu Resort, also helped drive growth as well.

Revenue from the industrial and integrated development division amounted to P269.2 billion, up 369% from a year earlier, because of the “partial upfront recognition of revenue from a land sale and lease revenues from the Sucat warehouse.”

RLC said it spent P9.38 billion in the first half of the year from its capital expenditure allocation of P27 billion for 2019.

It said it remains on the lookout for opportunities to expand its various businesses and is open to joint venture projects with property owners and developers. — Denise A. Valdez

PSE revamps sectoral indices to admit Phinma Energy, DM Wenceslao, Sta. Lucia

THE Philippine Stock Exchange revamped its sectoral indices, admitting three new companies and removing one, while leaving the benchmark 30-member PSE index (PSEi) intact.

The bourse said in a statement Friday it has updated the list of index members following its regular index composition review that covered the July 2018 to June 2019 period.

Phinma Energy Corp. will now be added to the industrial index. D.M. Wenceslao and Associates, Inc. and Sta. Lucia Land, Inc. will join the property index, from which Philippine Realty Holdings Corp. will exit.

“Our periodic review of the PSEi ensures that the index members continue to be the top companies among those that meet the Exchange’s standards on free float level, liquidity and market capitalization,” PSE President and Chief Executive Officer Ramon S. Monzon said in the statement.

“This exercise gives us the most suitable representatives of the Philippine stock market’s main barometer,” he added.

The changes in the indices will take effect Aug. 19.

The composition of the financials, holding firms, services and mining and oil indices will remain unchanged.

The sectoral indices are made up of companies that meet the PSE’s float requirement of 15% and are among the top 50% in median daily trades per month during the review period.

Nine firms make up the financials index, 25 the industrial index, 14 the holding firms index, 19 the property index, 23 the services index and seven the mining and oil index. — Denise A. Valdez

Phoenix Petroleum Q2 net falls 8.4% on strong growth in costs

PHOENIX Petroleum Philippines, Inc. said net profit attributable to the parent firm fell 8.4% in the second quarter to P486.24 million, according to its quarterly financial report, in part as cost and expenses as well as other charges rose during the period.

“Against a backdrop of challenging operating conditions, we continue to invest and build on our long-term competitive advantages. We are building scale to drive efficiency in fuels and LPG. We are investing in the brand and more importantly, in capabilities that will allow ourselves to adapt and innovate in markets,” Henry Albert R. Fadullon, Phoenix Petroleum chief operating officer, said in a statement.

Revenue during the quarter hit P27.11 billion, up 22.3%, a growth rate outpaced by the 22.5% rise in cost and expenses to P26.06 billion. Other charges also increased significantly by 78.7% to P524.71 million.

In the first half, Phoenix Petroleum announced a 7.5% drop in net profit to P896.83 million despite a 27.2% year-on-year increase in revenue to P51.20 billion.

Operating income increased by 22% to P2.07 billion, fueled by retail growth and new businesses such as liquefied petroleum gas (LPG) and PNX Petroleum Singapore Pte. Ltd.

Phoenix Petroleum said its Singapore business, which derived 39% of its volume from third-party customers, grew its volume by 89%. It said the unit since starting its operations in November 2017 has improved inventory cost management and enhanced efficiency as it leveraged the scale of the consolidated volume of the domestic business, and local and overseas external customers.

“Phoenix Petroleum continued to deliver on its strategic priorities, growing retail volume by 17% in the first half of 2019 behind the continued network expansion and improved operating efficiencies. A total of 630 stations have been opened nationwide as of June 2019,” the company said.

“The non-fuel retail business increased revenues by 5% as total chain sales of FamilyMart grew 5% year-on-year. FamilyMart added five stores and had 76 stores as of end June. Its focus on food sales and expense discipline continues to improve profitability,” it added.

In the LPG business, the first-half volume increased by 24% year-on-year with strong operations in Visayas and Mindanao, and the expansion in Luzon.

“VisMin volume grew 16% in the first half and accounted for 87% of volume. Luzon volume increased 85% and contributed 13% to the total volume versus 4% prior to the acquisition and operation by Phoenix,” the company said.

On Friday, shares in the company fell 3.48% to close at P11.10. — Victor V. Saulon

Cebu Pacific launches Narita, Bacolod, Iloilo services out of Clark

BUDGET carrier Cebu Pacific said it launched three new routes — two domestic and one international — out of Clark International Airport Friday.

The budget carrier launched yesterday service to Bacolod, Iloilo, and the Japanese gateway Narita, which becomes the fourth international route for Cebu Pacific operating out of Clark.

The carrier is also scheduled to launch a Clark-Puerto Princesa service by the fourth quarter.

Lance Y. Gokongwei, president and chief executive officer of Cebu Pacific, said at a launch event in Clark that the company wants to keep expanding its footprint at the gateway.

He said the four new routes to be opened this year will raise the carrier’s total capacity in the northern hub by 40% by the end of 2019.

“By the end of 2019, Cebu Pacific will be the largest carrier in Clark in terms of capacity with over 28% of all seats offered (by all airlines in Clark) and over 184 flights per week across all our routes, including the upcoming Clark-Puerto Princesa route which we will be launching in October,” he said.

The flights from Clark to Bacolod and Iloilo will be offered daily, while the service to Narita will run Mondays, Wednesdays, Fridays and Sundays.

“We have been operating flights in and out of Clark since 2006. The opening of these new routes is a testament of how committed we are to continuously develop this hub,” Mr. Gokongwei said.

The carrier’s other destinations served from Clark are Cebu, Caticlan, Tagbilaran Davao, Singapore, Macau and Hong Kong.

Cebu Pacific is aiming to hit its milestone of flying 200 million passengers by next year, and of 300 million passengers by 2022. It is committing to spend about P27.1 billion for capital expenditures this year for the acquisition of new aircraft. — Denise A. Valdez

Max’s Group net profit rises 9.4% in Q2 amid improved margins

Max’s Group, Inc. (MGI) said earnings grew 9.4% in the second quarter amid stronger margins due to improved product bundle offerings and heightened productivity from efficiencies realized at its commissaries and supply chain.

The listed casual dining restaurant group reported a net profit of P227.88 million in the three months to June, up 9.4% from a year earlier.

Systemwide sales grew 5.9% to P5.14 billion, while total revenue increased 4.8% to P3.68 billion.

MGI Chief Operating Officer Ariel P. Fermin attributed the stronger returns to the “heightened brand relevance, improving market conditions, and the effectiveness of our enterprise-wide productivity measures.”

“Similar to previous quarters, we have consistently delivered profitable growth. We aim to continue expanding our margins through more profitable bundles, commissary modernization, and supply-chain integration,” he was quoted in a statement as saying.

In the six months to June, net profit was P366.45 million, up 10.4% from the same period last year.

Systemwide sales rose 4.7% to P9.72 billion year-to-date, while total revenue increased 4.5% to P7.04 billion.

Sales from the company’s network of restaurants rose 2.1% to P5.7 billion in the first half. Commissary sales also increased 7.6% to P860.1 million, and franchising and other revenue by 37.1% to P460.8 million. MGI attributed the growth to the expansion of its franchising operations.

Partnerships with online aggregators to expand in-house delivery operations also pushed MGI’s online and delivery sales in the first half, growing 13% to P845.5 million.

“We remain steadfast in our commitment to balance daily quality management with investments that will future-proof our business… In order to bolster our current performance and fuel our topline gains, we will continue to explore partnerships with these online platforms and strategically invest in our brands,” MGI President and Chief Executive Officer Robert F. Trota said in the statement.

The company opened 28 new stores in the six-month period, six of which are located overseas. Its network now covers 711 branches globally, of which 57 are in North America, Middle East and Asia.

MGI handles brands such as Max’s Restaurant, Pancake House, Yellow Cab Pizza, Krispy Kreme, Jamba Juice, Max’s Corner Bakery, Teriyaki Boy, Dencio’s, Sizzlin’ Steak, Maple, Kabisera, Le Coeur De France and Singkit. — Denise A. Valdez

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