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BCDA gets additional P100 million to develop Libingan ng mga Bayani

The Bases Conversion and Development Authority (BCDA) said it has received an additional P100 million from the Philippine Veterans Affairs Office (PVAO) to develop the Libingan ng mga Bayani in Taguig City into a world-class shrine for soldiers.
In a Tuesday statement, the state-owned agency said it has signed a supplemental Memorandum of Agreement (MOA) with PVAO for the transfer of the funds.
“The development is aimed at transforming Libingan ng mga Bayani into a world-class National Military Shrine and Cemetery for soldiers, leaders, and heroes, who have served the nation with honor and dignity,” the agency said.
Under the agreement, the BCDA will implement the first phase of the Comprehensive Master Development Plan for the Libingan ng mga Bayani which includes the construction of a Dignified Cemetery Area, a Historical Theme Park, and a Memorial Shrine. — Janina C. Lim

ALI partners with two firms for Aurora, Quezon projects

Ayala Land, Inc. (ALI) is teaming up with Green Square Properties Corp. (GSPC) and Green Circle Properties and Resources, Inc. (GCPRI) for two projects in Aurora and Quezon province.
In a disclosure to the stock exchange on Tuesday, ALI said it has signed a memorandum of understanding with the two firms for the establishment of a joint venture company. The listed firm is set to own 51% of the JV firm, while 49% will be split between the two partners. — Arra B. Francia

DTI to provide assistance to MSMEs affected by Boracay closure

The Department of Trade and Industry is looking to boost its livelihood programs in Boracay to especially assist micro, small, and medium entrepreneurs (MSMEs) who were displaced of their livelihood following the islands closure last April.
“We are on the lookout for more ways to assist our MSMEs and those affected by the closure,” Trade Secretary Ramon M. Lopez said in a Tuesday statement.
Part of the efforts is launching more trade fairs in the island and scouting for lucrative market places possibly in the metropolis and other tourist destinations.
“We will be carrying deserving products in our Go Lokal stores and showrooms,” Sec. Lopez said, referring to the DTI-initiated concept stores through which MSMEs market their products and are usually installed in partner malls. — Janina C. Lim

Heading towards a ‘cash-light’—not cashless—society

During his visit to the Philippines in October last year, Chinese billionaire Jack Ma rooted for the country’s transformation into a “cashless society.” But while transitioning seems to be a good move for the Philippines,  the reality is that the country still has a long road ahead before fulfilling the vision.

For Lito Villanueva, managing director of FINTQnologies Corp., who entered the fintech space in 2007, the Philippines is poised to become a “cash-light society” where people minimally use cash while utilizing digital means of payment.

The reason for this, he said, runs deep through Filipinos’ way of handling money.

“For us to be able to push for a cash-light or cashless society, it’s cultural and at the same time behavioral,” he said in panel discussion at QBO Philippines, Makati City last May 8.

His first order of business at Smart was spearheading its international mobile financial services. With him at the helm, Smart developed and launched “Smart Mobile Money Transfer,” allowing users to send money using their mobile phone outside the Philippines and vice versa. This venture is among the telecommunication giant’s projects aimed at innovating ways of providing financial services to Filipinos. Another one is Smart Money, which despite being present in as early as 2000, has still yet to generate more users.

He explained, “A lot of Filipinos would still put their savings under their mattresses. There are still a lot of Filipinos who are not into mobile banking.”

Villanueva said the key to “accelerate inclusive financial growth” in the country is “awareness” among common Filipinos such as farmers, vendors, and drivers.

A good start in doing so, he added, is to introduce the concept of “sachet banking” that involves sari-sari stores (neighborhood sundry store) in providing anyone with insurance or investment plan with just as low as 15 using mobile phones.

“In emerging markets like the Philippines, such a sachet marketing is the key towards success,” he said.

Still, Villanueva believes that the country is bound to become a cashless nation as many fintech businesses eye expansion in the region.

“There is the proliferation of the likes of PayMaya, GCash, Coins.ph, and you could see now that there [is] a huge influx of fintech players going into the Philippines. In fact a lot of foreigners who are fintech advocates are now going to the country to start a business because there’s a huge opportunity for everyone in the country today

For Robertson Chiang, chief operating officer of online payment provider DragonPay Corporation, moving to a cashless society is “not a necessity.”

Fintech platforms are not new to the Philippines, with established companies like Globe Telecommunication running GCash and Mynt and Smart having Lendr and Fintq as part of their business. But Chiang said the country is still waiting for a “killer app” that will commonize the use of fintech platforms among Filipinos.

“Logic would dictate that somehow all of us eventually will be going to that cash-light setup. As to how long that will happen, it’s really difficult to say,” he said.

Peso dips as trade war tensions subside

THE PESO weakened on Tuesday, May 15, over indications of easing US and China relations after US President Donald J. Trump’s pronouncements on extending assistance to Chinese telecommunications giant ZTE, amid a brewing trade war between the two countries.
The local unit closed at P52.29 against the greenback on Tuesday, shedding 10 centavos from the P52.19 finish on Friday.
The local currency immediately slid to P52.36 as the market opened, then depreciated further to P52.5 per dollar to be its intraday low.
The peso’s peak for the day was P52.25 versus the dollar.
The volume of dollars traded grew to $1.35 billion from the $1.13 billion recorded on Tuesday.
“The peso dipped strongly today as US and China trade relations eased over the long weekend after Pres. Donald Trump intended to extend assistance to Chinese telecom ZTE, which was seen to be heavily affected by the trade tensions between the two major economies.” a trader said in an email yesterday.
However, he added that traders took profits when the local currency touched the P52.5 per dollar resistance that tempered the overall depreciation. — Elijah Joseph C. Tubayan

Stocks rally as investors remain optimistic

Stocks jumped on Tuesday, May 15, as investors remained optimistic on the rate hike implemented by the local central bank last week.
The 30-member Philippine Stock Exchange index climbed 1.73% or 133.86 points to close at 7,885.97. The broader all-shares index likewise increased 1.3% ot 60.99 points to finish at 4,770.14.
“I guess it’s the investors cheering on the rate hike last week that’s keeping our market high…The recent move by the BSP (Bangko Sentral ng Pilipinas, which a lot of people think was long overdue, lured back investors to buy our index stock at low prices,” Timson Securities, Inc. trader Jervin S. De Celis said on Tuesday.
Four sectoral counters ended in positive territory, while two closed in the negative. The property sector soared 4.8% or 177.13 points to close at 3,870.50. This was boosted by the 7.43% increase in shares of SM Prime Holdings, Inc to P38.30 each.
Holding firms inched up 1.35% or 104.72 points to 7,850.22, while services added 0.51% or 7.94 points to 1,553.86. Financials went up 0.51% or 9.81 points to 1,943.47.
Industrial dipped 0.03% or 3.1 points to 11,185.74, while mining and oil also shed 0.03% or 2.83 points to 10,191.34.
Investors started to come back to the market as value turnover reached P8.66 billion after some 995 million issues switched hands. This is higher than the average P5.8-billion turnover seen last week.
Advancers outpaced decliners, 110 to 91, while 47 issues were unchanged. — Arra B. Francia

Proposal to build Manila cruise port submitted to Malacanang

The Tourism Infrastructure and Enterprise Zone Authority (TIEZA) has submitted to Malacanang a proposal to construct a P308-million Manila cruise port in Paranaque City.
In a statement on Tuesday, May 15, it said it had submitted on May 9 a proposal from Sureste Properties Inc. to build a Solaire Cruise Center. It said Bloomberry Resorts Corp. and International Container Terminal Services, Inc. (ICTSI) presented to President Rodrigo R. Duterte a plan for the Solaire Cruise and Yachting Centre, which the President welcomed as long as it acquires all permits and environmental clearances.
“The proposal includes marine and terminal facilities, homeport and port-of- call operations, an expanded harbor offering dining, shopping, entertainment and maritime recreation, and walkable esplanades and plazas,” TIEZA said.
It added, the project will be applied to become a Tourism Enterprise Zone to avail of fiscal and non-fiscal incentives. — Denise A. Valdez

Cebu Air net income surges 12% in first quarter

Cebu Air, Inc. reported its net income for the first three months of 2018 stood at P1.437 billion, a 12% surge from the P1.283 billion recorded in the same period last year.
Its revenues also grew to P18.261 billion, 8.3% higher from the P16.864 billion in the first quarter of 2017.
In a regulatory filing, the Gokongwei-led company said the turnout is expected. “The Group generally records higher revenues in January, March, April, May and December as festivals and school holidays in the Philippines increase the Group‟s seat load factors in these periods,” it said.
Passenger revenues were up at P13.676 billion, 11.4% higher than P12.277 billion in 2017.
“This increase was largely due to the 10.0% increase in average fares to P2,805 for the three months ended March 31, 2018 from P2,551 for the same period last year,” the carrier wrote.
It also said, passenger volume grew to 4.876 million from 4.813 million last year, which added to the revenue hike.
A 26% increase in cargo revenues was also seen in the report, as it rose to P1.279 billion from P1.015 billion in the same period last year.
The company’s operating expenses was up 11.8% at P15.997 billion compared to last year’s P14.302 billion, due to higher fuel prices, weak Philippine peso and the airline’s purchase of new aircraft.
“The increase was primarily attributable to the rise in fuel prices in 2018 coupled with the weakening of the Philippine peso against the U.S. dollar…. The growth in the airline‟s seat capacity from the acquisition of new aircraft also contributed to the increase in expenses,” it wrote. — Denise A. Valdez

DOTr, JICA agree on 43-month MRT rehab

The Department of Transportation (DOTr) and the Japanese government, through the Japan International Cooperation Agency (JICA), have finalized on Friday, May 11, the terms of the rehabilitation and maintenance deal for the Metro Rail Transit-3 (MRT-3), inching closer to the signing scheduled next month.
In a statement on Tuesday, May 15, the DOTr said the two parties have agreed on the estimated cost, scope and schedule of the project, which will take 43 months, or more than three years.
“Based on the discussions, the Rehabilitation and Maintenance Project of MRT-3 will take 43 months: 31 months for the simultaneous rehabilitation and maintenance works to restore MRT-3 to its original design condition and capacity, and 12 months for the defect liability period,” it said.
The Japanese government will finance the project, amounting to ¥34.480 billion JPY or P16.985 billion. The DOTr said it and Japan is aiming to sign the loan agreement and mobilization of the maintenance and rehabilitation provider by next month.
In November, the DOTr was reported to be in discussions with the Japanese government regarding the maintenance of the MRT-3, following its termination of contract with Busan Universal Rail, Inc. Japanese company Sumitomo Corp. was the MRT-3 maintenance provider from 2000 to 2012. — Denise A. Valdez

ONE Championship officially launches free mobile app

By Michael Angelo S. Murillo
Senior Reporter
SINGAPORE — Staying true to its push to bring mixed martial arts in its truest form to more people and continue to evolve as a game-changing organization, ONE Championship officially launched here on May 14 its mobile app.
Available for download on both Android and iOS platforms, the app has been up since early this month but was finally presented to the public in conjunction with ONE’s upcoming “Unstoppable Dreams” event on May 18 with group CEO Chatri Sityodtong leading the unveiling.
The new ONE Championship mobile app aims to provide millions of martial arts fans around the world with access to every ONE Championship live event, as well as the complete library of digital content all for free.
Content will stream in Full HD and will also provide users with statistical information and a detailed background on their favorite ONE Championship superstars.
Mr. Sityodtong touted their latest offering as a “big moment” not only for martial arts but for sports in general, saying “There is no major sports media property that has done this in history. With the app, we are giving the power to our fans to celebrate alongside with us.”
The ONE CEO went on to say that the mobile app should only complement the major inroads they have made across the board since setting up shop seven years ago even as he allayed fears that making the app available for free would take a toll on the group’s revenues.
“The world’s most valuable sports property today is the National Football League, which is worth $75 billion. I genuinely believe in my heart that ONE Championship will become the world’s biggest media sports property. We will surpass the NFL, a single American sport played within the country with only 325 million people,” said Mr. Sityodtong at the launch of the mobile app at the Marina Bay Sands Expo and Convention Centre.
“Asia has 4.4 billion people. If 4.4 billion people download the ONE Championship app and are watching it, I don’t think I have to worry [of our revenues],” added the ONE official.
MAJOR OFFERING
For one of the app’s early offerings, Mr. Sityodtong said fans will be in for a treat with ONE: Unstoppable Dreams, which he said is arguably the best fight card that organization has made to date.
Headlining the event is the women’s atomweight world championship fight between champion Angela Lee of Singapore and Mei Yamaguchi of Japan.
Also on tap is the world featherweight battle between Australian champion Martin Nguyen and Christian Lee of Singapore as well as the ONE Super Series muay thai flyweight world championship clash between Sam-A Gaiyanghadao of Thailand and Sergio Wielzen of the Netherlands.
Set to see action as well are Filipino mixed martial arts star Eduard “The Landslide” Folayang against Russian Kharun Atlangeriev, MMA legend Shinya Aoki versus Russia’s Rasul Yakhyaev, and Singapore’s Amir Khan against Sung Jong Lee of South Korea.
“Having Unstoppable Dream was really part of the plan as we went on with the launch of the app. For May 18 we knew we had to have a huge card because we are launching the mobile app. We wanted to have millions, and eventually billions, of fans see the beautiful work of Angela Lee, the beautiful work of Mei Yamaguchi, the beautiful work of Martin Nguyen, Christian Lee, Sam-A Gaiyanghadao, Shinya Aoki and Eduard Folayang. These are some of the best in what they do bar none and we designed May 18 to be a big event and we are super-excited that the fans get to see this now on more platforms,” Mr. Sityodtong said.

Warriors steal series opener in Houston

WASHINGTON — Season wins leader Houston battled an entire campaign to seize a home-court edge throughout the NBA playoffs, but defending champion Golden State stole it away with a 119-106 victory Monday.
Kevin Durant scored 37 points and Klay Thompson added 28 for the Warriors to capture the best-of seven Western Conference final opener in a rare series start on the road for a team seeking its third NBA crown in four seasons.
“We’re just trying to win every game we play,” Warriors forward Draymond Green said. “It ends up being ‘stealing home court’ but we don’t look at it that way. We won one game on the road. Let’s try to win two.”
Stephen Curry added 18 points, six rebounds and eight assists while Green contributed nine rebounds and nine assists for the Warriors.
“It’s a great start. We played well,” said Thompson, who scored 11 points in the fourth quarter. “We’re not going to relax. We’re still not where we want to be. We still have a long way to go.”
NBA scoring champion James Harden netted 41 points to lead the Rockets, who host game two on Wednesday.
“We’ve got to do a better job of taking better shots, not turning the ball over and getting back on D,” Harden said. “We’ve got to make them rotate and take tougher shots.
“They do a really good job if you take bad shots or turn the ball over. That’s what they thrive on. Those mistakes can’t happen.”
Durant scored 17 first-half points and sparked Golden State after the Rockets played aggressively at the start, using two big runs to jump ahead only to have the Warriors overtake them by the middle of the second quarter.
“You know they are going to come out with a lot of energy,” Durant said. “We just tried to take their best punch and keep fighting.”
“To withstand that run says a lot about our team,” Green said. “The further you get along in the playoffs, the more intensity you need to bring.”
Rockets coach Mike D’Antoni knows that all too well.
“If we’re going to knock these guys off we have to get a better mental focus,” D’Antoni said. “We ran out of gas a little bit in different spots and they didn’t.
“It’s just a bunch of stuff we can clean up and we will. We’ll come out and attack them Wednesday.”
‘THEY MADE US PAY’
Chris Paul had 23 points and 11 rebounds for the Rockets, who fell behind in the third period and couldn’t catch up in the fourth.
“Every time we made a mistake they made us pay,” Paul said. “Some of it was breakdowns, things we can clean up and do better. We have to communicate better.”
Durant says the Warriors know Harden will always be a threat but Golden State must remain poised against a Rockets lineup that can unleash a barrage of 3-pointers if their focus lapses.
“We know James is always going to score over us. We just had to keep solid and keep playing hard,” Durant said.
“This Houston team never stops. They are always in the game with 3-point shots. We play a calm steady game, look for a good shot and play good D every time down.”
STAYING MENTALLY SHARP
Thompson had a 3-pointer and two free throws in a 10-2 Warriors run that Durant capped with a 3-pointer for a 100-87 lead with 7:58 remaining in the fourth quarter. Houston never threatened again.
“We can do a little better job against them mentally,” D’Antoni said. “They are champions for a reason. If we want to beat them we have to be mentally sharp.
“KD was on. We can live with that. But we can’t have that and mental mistakes.”
The Rockets jumped ahead 9-2 and 21-12 but the Warriors battled back, taking their first lead of the game at 35-33 on David West’s layup 2:57 into the second quarter.
“They took the challenge and played awfully well,” Warriors coach Steve Kerr said. — AFP

Busmen eye another ASEAN Zone final appearance in Yangon

DEFENDING ASEAN Zonal winner Ceres-Negros FC shoots for a second consecutive final appearance in a key AFC Cup away matchup today against Yangon United FC in Myanmar.
A 4-2 winner in the first leg of their knockout matchup on May 9 in Bacolod City, Ceres is out to finish things and advance to the next round of the tournament in the second leg to be played at the Thuwunna Stadium in Yangon.
The “Busmen” were towed to the first-leg victory over Yangon by the brace of team leading scorer Bienvenido Marañon and goals each from Patrick Reichelt and Super.
Mr. Marañon got the scoring going for Ceres in the 29th minute after racing on to a throughball from teammate Manny Ott.
It was followed up on to by Mr. Reichelt four minutes later off a rebound from a blocked shot, helping Ceres to a 2-nil lead.
Spaniard Marañon further buried the visitors with another goal as the opening half drew to a close, scoring in the 44th minute to make it 3-0.
Yangon was able to break through 10 minutes after the start of the second half, with Sekou Sylla, who used to play for Global Cebu FC, on the scoring end.
The hosts though were quick to check any momentum that Yangon was trying to build with a 63rd-minute goal from Super setting the visitors back anew.
Yangon tried to claw its way back but could only come within two points with Mr. Sylla providing another point in the 83rd minute.
Now a step closer to advancing to the ASEAN finals anew, Mr. Marañon encouraged his teammates to take cue from the first-leg victory and play inspired football.
“I think we played really, really well. They had two or three chances and scored two goals so they had a lot of luck, but I think 4-2 is really good for us as we can score at any moment over there. We have to continue like this and keep the ball because we will get chances. We have to play like we did today, we have to try to score and if we do that it’s finished,” said Mr. Marañon following their first-leg victory.
Ceres-Negros now needs protect its two-goal advantage in the first leg to ensure their place in the final legs in August.
The Ceres-Yangon match is to be played at 3:30 p.m. (Myanmar time), 5 p.m. in Manila, and will be shown live over Fox Sports. — Michael Angelo S. Murillo