CPG completes 250 units at Tanza community

March 5, 2019 | 12:01 am

CENTURY PROPERTIES Group’s (CPG) affordable housing brand has completed more than 250 out of the 1,000 units at PHirst Park Homes Tanza in Cavite.
In a statement, PHirst Park Homes Inc. said it has received a 100% unit acceptance rate from buyers after turning over the first 100 homes.
“We thank our first 100 PHirst Park Homes customers for putting their trust in us. Their 100% acceptance of units upon first inspection is a strong testament to the quality we have put into the project as we elevate the standards of the first-home market category,” Loren B. Sales, vice-president for customer management of PHirst Park Homes, said in a statement.
As of end-2018, 1,566 units worth P2.2 billion have been sold at PHirst Park Homes Tanza.
The company said the community’s basketball court has been completed, while the clubhouse, which will have a swimming pool, a kid’s pool, function rooms, multi-purpose hall, a videoke room, and a water play area, is under construction.
Other amenities include an open air cinema, picnic lawn, skate park, a Linear Park and dog park.
PHirst Park Homes is a joint venture firm of CPG and Mitsubishi Corp. — Vincent Mariel P. Galang

Filinvest City eyes LEED-ND certification

March 5, 2019 | 12:01 am

FILINVEST CITY is aiming for Leadership in Energy and Environmental Design for Neighborhood Development (LEED-ND) Plan Version Four certification from the United States Green Building Council (USGBC).
“We want Filinvest City to be an experiential CBD (central business district), for residents and workers to experience the city at a ground level-that their daily lives won’t end at their offices or homes, but rather extend to the parks and other play components provided for them,” Don Ubaldo, vice president for townships of Filinvest Alabang, Inc. said in a statement.
LEED-ND recognizes large-scale townships that are able to protect and enhance health, natural environment and quality of life. It looks into sustainability of the development through a set of growth, urbanization, and green construction principles.
Filinvest City is a 244-hectare masterplanned development located in Muntinlupa City. Its residential communities include Vivant Flats, La Vie Flats, and Bristol at Parkway Place.
Botanika Nature Residences has already received the certification as a Building for Ecologically Responsive Design Excellence (BERDE). — V.M.P.Galang

K-Pop Watch (03/05/19)

March 5, 2019 | 12:01 am

2019 K-Pop Friendship Concert

TO MARK the 70^th anniversary of the establishment of diplomatic ties between the Republic of Korea and the Republic of the Philippines, the Korean Ministry of Culture, Sports and Tourism presents the 2019 K-Pop Friendship Concert in Manila, “a cultural celebration through music shared by the two nations.” The concert will be held on March 7, 6 p.m., at the Mall of Asia Arena in Pasay City, and will shocase both Filipino and Korean artists. Hosted by Kring Kim and Ryan Bang, and the concert will feature a wide range of acts including up-and-coming K-Pop boy group NOIR, K-Pop girl group April, NCT Dream, which is a sub-unit of NCT and will be performing for the first time in Manila. Representing the Philippines are rock band Silent Sanctuary and dance trio VinSuriChan. Tickets to the show are free. For details about the event and how to get tickets, visit the 2019 K-POP Friendship Concert in Manila Facebook page: facebook.com/2019kpopfcm.

So Ji Sub visits Manila

MANILA is the final stop in Korean actor So Ji Sub’s Asia fan meet tour.

PULP Live World presents the So Ji Sub Asia Tour “Hello” Manila performance on March 16, 7 p.m., at the New Frontier Theater (formerly the Kia Theater), in Cubao, QC. Manila will be the last stop in the actor’s (Sorry, I Love You, Cain and Abel, Rough Cut, Master’s Sun) fan-meeting Asia tour. Tickets to the show are available at Ticketnet outlets and online (www.ticketnet.com.ph), and range in price from P2,500 to P7,500. For more show information, visit www.pulp.ph.

Metallic mineral production value rises 10.42% in 2018

March 5, 2019 | 12:00 am

How PSEi member stocks performed — March 4, 2019

March 5, 2019 | 12:00 am

Here’s a quick glance at how PSEi stocks fared on Monday, March 4, 2019.

Philippine Stock Exchange’s most active stocks by value turnover — March 4, 2019.

Cavite extension of LRT-1 to begin construction next month

March 4, 2019 | 10:23 pm

THE construction of the Light Rail Transit Line 1 (LRT-1) extension to Cavite is scheduled to begin next month, the Department of Transportation (DoTr) said.
“We are starting in April the actual construction of LRT-1 Cavite Extension connecting Baclaran and Bacoor, Cavite,” the DoTr said in a statement on Monday.
It said the target is to complete the project by the fourth quarter of 2021. Once the extension is up and running, passenger traffic on LRT-1 is expected to increase to 800,000 from the current 300,000.
The construction of the 11.7-kilometer LRT-1 Cavite extension is part of the government’s concession agreement with Light Rail Manila Corp. (LRMC), which has been operating the train line since September 2015.
LRMC is a joint venture of Ayala Corp., Metro Pacific Light Rail Corp. and Macquarie Infrastructure Holdings (Philippines) Pte. Ltd. Aside from the Cavite extension, its P65-billion, 32-year agreement with the government also involves the rehabilitation of the 21-kilometer LRT-1 line from Roosevelt, Quezon City to Baclaran, Parañaque City.
The Cavite extension will cover eight new stations from Baclaran: Redemptorist, NAIA Avenue, Asia World, Ninoy Aquino, Dr. Santos, Las Piñas, Zapote and Niog.
Metro Pacific Investments Corp. is one of three Philippine subsidiaries of Hong Kong’s First Pacific Co. Ltd., the others being PLDT, Inc. and Philex Mining Corp. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., maintains an interest in BusinessWorld through the Philippine Star Group. — Denise A. Valdez

NEDA final hurdle for Mindanao railway before China ODA

March 4, 2019 | 10:22 pm

THE DEPARTMENT of Transportation (DoTr) said it expects to make significant progress in securing official development assistance (ODA) from China for the Mindanao Railway Project this month.

Transportation Undersecretary for Railways Timothy John R. Batan told reporters last week that the government is now reviewing the revised specifications and scope of work for the railway project before turnover to China, which will compile a shortlist of contractors for the project.
“We’re in the process of finalizing the approvals then we should be done. Our target is approval on the Philippine side by March,” he said Wednesday after the Metro Manila Subway groundbreaking ceremony, noting that the key approvals are from the National Economic and Development Authority (NEDA) Investment Coordination Committee (ICC).
“As soon as we get that approval, the process starts for China ODA loans (begins with a) request a shortlist of three qualified contractors. Then once we receive the shortlist, we may start the bidding because the bid documents are done,” Mr. Batan added.
The Mindanao Railway Project consists of circumferential and spur lines connecting Tagum to Surigao and other areas of the island. Last year, the DoTr approved changing the specifications and scope of work of the project from diesel single track to electric double track.
Last month, the DoTr also started studying the realignment request of a homeowners’ group to avoid inconveniencing some property owners.
Mr. Batan said because of the changes, the cost of the project is still uncertain at this point. “That’s part of what’s being reviewed by the ICC. So as soon as we get the approval, that’s when we will have a definite total project cost for the upgraded system,” he said.
Right of way acquisition for the train line has started, with Mr. Batan saying the DoTr wants to conduct the groundbreaking within the year, or by the third quarter at the earliest.
“Land acquisition is ongoing. So everything, what we call the advanced works (and) pre-construction surveys, they are ongoing in Mindanao,” he said.
The Mindanao Railway Project is expected to become the country’s first train system outside Luzon, which is targeted for completion by 2022, when President Rodrigo R. Duterte steps down. — Denise A. Valdez

Jan. government debt rises 2.8% vs Dec.

March 4, 2019 | 10:19 pm

OUTSTANDING government debt rose in January to record levels after increased domestic and foreign debt, tempered by a stronger peso, the Bureau of the Treasury (BTr) said.
National government debt was at a record P7.494 trillion at the end of January, up 2.8% or from December. The debt stock was also higher from the P6.726 trillion posted a year earlier.
The bulk of the loans were from domestic sources at P4.91 trillion in January, up 2.8% from the P4.777 trillion in the previous month.
The Treasury attributed this to the net issuance of government securities in January at P133.18 billion, tempered by downward valuation of domestic dollar bonds at P200 million, after the peso strengthened.
During that month, the peso averaged P52.4679 against the dollar in January, compared with a P52.7691 average the previous month.
On the other hand, funds raised from foreign sources accounted for P2.584 trillion, up 2.7% from the end of December. The rise in overseas debt was mainly due to higher foreign loan availments worth P83.29 billion during that month.
The government returned to the international capital markets in January, selling $1.5 billion worth of dollar bonds.
The 10-year securities, at a coupon of 3.75%, were priced 110 basis points (bp) above benchmark US Treasuries, narrower than the initial 130 bps guidance.
The rise in foreign debt in January was offset by the P14.61 billion revaluation impact of the peso, with the weaker dollar decreasing the value of dollar-denominated debt by P19.24 billion. This however was tempered by the increase in value of third currency debt by P4.63 billion.
Meanwhile, guaranteed obligations stood at P487.29 billion in January, down 0.1% or P301 million month-on-month.
“Peso appreciation which lowered the local currency value of external guarantees by P2.22 billion and net repayment on domestic guarantees of P0.52 billion underpinned the decline,” the BTr said.
However, this was partly offset by net availments on external guarantees of P1.40 billion and an upward revaluation of third currency-denominated guarantees by P1.04 billion.
The government plans to borrow up to P1.189 trillion in 2019 to help finance its spending plan, 33.85% more than the P888.23 billion initially programmed for this year.
Of this year’s total, 891.7 billion will be sourced domestically and P297.2 billion from overseas. The Development Budget Coordination Committee adjusted the borrowing ratio in favor of domestic sources to 75-25 for 2019, from the previous year’s 65-35 ratio.
The government is offering retail Treasury bonds to the general investing public, which can be bought in denominations of P5,000 until March 6.
National Treasurer Rosalia V. De Leon said demand for the RTBs could reach as high as P200 billion by the end of the public offer period, although the government may not accept all the bids.
Apart from the retail bond sale, the Treasury is also studying an offer of renminbi-denominated “panda” bonds next quarter as well as yen-denominated “samurai” bonds in the following quarter, in accordance with the government’s 12-month cycle of overseas bond offers. — Karl Angelo N. Vidal

Oversight panel to review 5% coconut biofuel proposal

March 4, 2019 | 10:18 pm

THE Congressional Oversight Committee on Biofuels is set to conduct a hearing on the proposal of the Department of Agriculture (DA) to increase the coconut content in biodiesel to 5% from the present 2%, Senator Sherwin T. Gatchalian said on Monday.
“We will try to convene next week, before the start of the campaign. Our counterpart in the House of Representatives will be campaigning beginning March 29,” Mr. Gatchalian said in a text message when asked for a schedule of the hearing.
In a statement, Mr. Gatchalian, who chairs the Senate committee on energy and co-chairs the congressional oversight committee, reiterated his reservations towards the proposal, which the DA plans to resubmit to the Office of the Executive Secretary.
The senator said the proposal may result in higher biodiesel prices, which his office estimated in its study might rise 7.5%, equivalent to P2.86.
Agriculture Secretary Emmanuel F. Piñol is pushing for the increase in coconut content to help prop up copra prices. In a social media post on Feb. 24, Mr. Piñol maintained that more coconut content in biodiesel would improve the mileage of vehicles by about three kilometers per liter and would help address air pollution.
Mr. Gatchalian said he hopes the congressional oversight committee hearing would allow stakeholders to air their views on the proposed measure.
“I hope that we can agree on action steps in order to move the industry forward and attain the goal of energy security and environmental sustainability as envisioned by the authors of the Biofuels Act,” he said.
The senator also said the Department of Energy (DoE) and the National Biofuels Board (NBB) should “thoroughly study” whether an increase to a 5% blend as proposed by the DA was warranted and whether domestic production of feedstock was sufficient to meet present and future demand.
He cited an earlier public hearing by the Congressional Oversight Committee on Biofuels which aired concerns on the lack of feedstock.
“The DoE and NBB should weigh the impact of increasing the biofuel content from B2 to B5, especially with the recent implementation of the new round of increases in the excise tax on fuel in January. After all, the law requires the recommendation of the NBB before the DoE decides to increase the blend,” he said. — Camille A. Aguinaldo

Palay prices firm, rice prices edge down in 3rd week of Feb.

March 4, 2019 | 10:17 pm

THE average farmgate price of palay, or unmilled rice, rose 0.05% week on week to P19.64 per kilogram in the third week of February, according to data released by the Philippine Statistics Authority (PSA) on Monday.
According to PSA, the average price of wholesale well-milled rice, fell 0.43% week on week to P41.22 per kg. At retail, well-milled rice averaged P44.63, down 0.27% from a week earlier.
The average wholesale price of regular-milled rice fell 0.87% week on week to P37.76 per kg. The average retail average price fell 0.90% to P40.72 per kg.
In a news conference, Agriculture Secretary Emmanuel F. Piñol said that price of rice at farmgate level is now starting to recover after a drastic drop to an average of P14 to P15 per kg, amid speculation of price pressure brought on by imported rice under the Rice Tariffication Act.
“The DA believes that the fall to P15 was only an initial market shock. The price is returning to P17 to P18,” Mr. Piñol told reporters in Quezon City on Monday.
“Right now the farmers are starting to realize that the price pressure is not that intense. We explained to them that even if the importers bring in bigger volumes of rice, there’s a limit to how much you can access in the world market. If you access more, world prices would spike,” Mr. Piñol said. — Reicelene Joy N. Ignacio

Bill extending TV5 franchise to be transmitted to Palace

March 4, 2019 | 10:15 pm

THE BILL extending the franchise granted to ABC Development Corp., currently known as TV5 Network, Inc., for another 25 years will soon be transmitted to the Office of the President.
The House of Representatives concurred with the Senate amendments, eliminating the need to convene a bicameral conference committee.
The bill is being prepared for the signature of the Congress leaders before it is transmitted to President Rodrigo R. Duterte for enactment.
“No need to convene a bicam. Last I heard was that the bill was in the process of enrollment after which it’d be transmitted to the President for his signature,” Camiguin Rep. Xavier Jesus D. Romualdo, who wrote the bill, said in a phone message on Monday.
The network primarily broadcasts sports and news programs, through ESPN and News5. Its franchise was first granted in December 1994, under Republic Act No. 7831, and is set to expire this year.
If enacted, TV5 will be allowed to continue to “construct, install, operate, and maintain radio and television broadcasting stations in the Philippines.”
The Senate version, in particular, had included a provision requiring the grantee to inform Congress of “Any sale, lease, transfer, grant of usufruct, or assignment, of franchise or the rights and privileges acquired thereunder, or of the merger or transfer of the controlling interest,” which the House adopted.
The bill requires the network to provide the government with adequate public service time or a maximum aggregate of 10% of the paid commercials or advertisements.
The network is prohibited from broadcasting obscenity, indecent language, speech and the like, as well as deliberately disseminating false information. Broadcasting material that proposes or incites treason, rebellion or sedition will also be banned.
The bill also provides the President the right to temporarily take over and operate the network and its facilities; to temporarily suspend its operations in interest of public safety, security and public welfare; and to authorize the temporary use and operation of any government agency, in circumstances that involve “war, rebellion, public peril, calamity, emergency, disaster, or disturbance of peace and order.”
TV5 is required to conduct a public offering of at least 30% of its outstanding capital stock within five years from commencement of operations. — Charmaine A. Tadalan

IP protection applications rise 15% in 2018

March 4, 2019 | 10:14 pm

THE Intellectual Property Office of the Philippines (IPOPHL) said it received 15% more applications for intellectual property (IP) protection in 2018.
In a statement on Monday, IPOPHL said filings for patents, utility models, industrial designs, trademarks, and copyright deposits in 2018 totaled 44,461, up 15% from a year earlier.
Applications filed online totaled 10,346 last year, up 35%. This covers all IP types, except copyright deposits.
Applications in the utility model segment registering a 54% growth to 2,124 in 2018 from 1,380 in 2017. Majority of the UMs filed in 2018 were in the field of food chemistry and food technology, “indicating that the innovation direction of local innovators is still towards foodstuffs & agricultural goods.”
UMs are a form of patent protection for inventions with less stringent patentability standards.
Trademark applications rose 11% in 2018 to 35,602. The majority of trademark applications were for agricultural products and services, marking a break from the usual pattern in which pharmaceuticals, health products, and cosmetics took up the top tier.
Patents applications rose 28% to 3,946. Pharmaceuticals remained the top source of applications.
Industrial design (ID) applications rose 9% to 1,658 in 2018, with most applications covering packaging and transport containers.
Copyright deposit filings rose 29% to 1,268 in 2018.
“More and more people are utilizing IP to enhance competitiveness in business, and as an incentive to make commercially-viable technology,” IPOPHL Director-General Josephine R. Santiago said in the statement, adding that the application filing process was made more efficient that year by the deployment of online filing channels.
Another contributing factor to this growth is IPOPHL’s deployment in 2018 of its full suite of online filing systems for trademarks, invention, utility models and industrial design, allowing easier filing for applicants. — Janina C. Lim