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Bugallon will be home to Pangasinan Convention Center

AN 18-HECTARE area in the agricultural town of Bugallon will be the site of the planned Pangasinan Convention and Multi-Purpose Center (PCMPC). The project is under the provincial government and an initial P300 million has been allocated for the design and first phase of construction. In a statement, Provincial Engineer Antonietta C. Delos Santos said construction work will start as soon as Governor Amado I. Espino III gives his final approval to the design and building scheme. The PCMPC is planned to have a four-storey hotel, restaurant building, two Olympic-sized swimming pools, an activity area, and a wide parking lot. The groundbreaking ceremony for the project was held March 26.

Bus fare hike in Central Visayas takes effect April 1

THE MINIMUM fare for buses and mini buses in Cebu and the rest of Central Visayas will be P9 starting April 1 this year, according to Land Transportation Franchising and Regulatory Board (LTFRB) Regional Director Eduardo C. Montealto, Jr. The current minimum fare is P6. Julieto Flores, spokesperson of the Cebu Provincial Bus Operators Association and president of Mini-bus Operators Transport Cooperative, reminded operators that the new fare could only be implemented if a new fare matrix is posted within the vehicle. The CPBOA and Cebu South Mini-Bus Operators Association filed a joint fare hike petition last year and asked for a P4 increase — from P6 to P10 — for the first five kilometers, and another .30 centavos — from P1.20 to P1.50 — for every succeeding kilometer. In January, however, they deferred the petition following the series of fuel price reduction in December 2018. — The Freeman

64 NPA members, supporters in Surigao del Sur give up arms

THE MILITARY’S Eastern Mindanao Command (EastMinCom) reported that 64 members and supporters of the communist New People’s Army (NPA) surrendered last March 22 in Lanuza, Surigao del Sur. In a statement, EastMinCom said the group consisted of 27 NPA “regular” members, 13 affiliates under the Militia ng Bayan group, and 24 supporters or couriers. The surrender was facilitated through the Community Support Team of the 36th Infantry Battalion (IB) and the 4th Infantry “Diamond” Division together with barangay officials of Mampi in Lanuza. “This is the result if stakeholders of peace work together, marching in unison to attain peace in every community. Indeed, this is the victory of convergence and victory of peace,” said Lt. Gen. Felimon T. Santos Jr., EastMinCom commander. “Let us continue with our multi and inter-agency efforts to end the conflict and bring the much-needed services into the conflict-affected communities that will address the issues of conflict effectively and sustainably,” Mr. Santos added. The military said the former armed rebels will be placed under the Enhanced Comprehensive Local Integration Program (E-CLIP), which is intended to help them assimilate back into society.

Heavy equipment for Marawi rehabilitation delivered from China

THE ARMED Forces of the Philippines has acquired 248 units of cranes, bulldozers, loaders, and other engineering equipment from China worth P1.5 billion, which will be used for the rehabilitation of Marawi City and nearby affected areas. “This is the result of our friendship with China, setting aside ‘yung sinasabing samaan ng loob (what they call ill feelings) or other apprehensions…. We can develop a lot of good relationships with our neighbors,” National Defense Undersecretary Cardozo M. Luna said in an interview with reporters on March 27 during the turn over ceremonies of the equipment at Camp Aguinaldo. The engineering equipment were among the initial projects under “Horizon 2” of the AFP Modernization Program, which was completed last Feb. 12. Mr. Luna also said that the Chinese government will give the Philippines a deployable bridge for disaster situations. — Vince Angelo C. Ferreras

NCCC unveils plan for Victoria Plaza complex

DAVAO CITY — Homegrown New City Commercial Corp. (NCCC) is developing its recently-purchased Victoria Plaza, the city’s oldest and iconic shopping mall, into a mixed-use complex with residential and hotel components.
NCCC Malls Sharlene Faye A. Lim said they are planning to build eight buildings in the nine-hectare property, including a five-star hotel through a joint venture deal.
“Starting today, we can start talking to people (possible partners in the development of the project) openly,” Ms. Lim said during the unveiling of the complex design on March 27.
Among the possible partners is D. M. Consunji Inc., which is already working with NCCC for the redevelopment of the latter’s mall that was destroyed in a Dec. 2017 fire.
The other buildings will be for three serviced apartments, the company’s headquarters, and condominiums.
The existing shopping mall will be retained and renovated, and possibly additional floors will be constructed if the foundation permits.
Ms. Lim they have no timeline yet on the development phase, but they are keen on getting things started as soon as possible.
Walter V. Melicor, chief financial officer of Elements Philippines, the project designer, said depending on the processing of permits as well as other factors, the project can be developed within seven to 10 years.
“It will be at par with world-class (developments),” he said, adding that the design for the whole complex is partly inspired by local flora such as orchids and mangosteen tree.
Mr. Melicor said the estimated investment cost is still “fluid” and declined to give an amount.
Emmanuel G. Herbosa, president of the Development Bank of the Philippines (DBP), said they helped the Lim family’s company in buying the property from the Philippine National Bank, which took possession of Victoria Plaza after the original owner defaulted on its loan.
Mr. Herbosa said the loan to NCCC is covered by a non-disclosure agreement.
The DBP head said they are ready to continue assisting the company in developing the project. — Carmelito Q. Francisco

Nation at a Glance — (03/28/19)

News stories from across the nation. Visit www.bworldonline.com (section: The Nation) to read more national and regional news from the Philippines.
Nation at a Glance — (03/28/19)

How to find freedom and launch your career as a digital nomad

Freedom Summit Philippines kicks off the Freedom Summit group’s global tour of conferences targeted towards digital nomads. Founder and career blogger Ricky Shetty envisions the event series to be the first to organize legs in every continent, culminating in a cruise to Antarctica.

“We might get a lot of penguins in the audience [on that one],” he said.
His ambitious project is all in line with their core message that people can build careers that are lucrative, flexible, and geographically-independent. That is, free — free in terms of money, time, and location — thanks to the suite of digital tools available to workers today.
Shetty is himself an avid traveler, having visited 81 countries across six continents working as a blogger and internet marketer — with wife and three kids in tow. Through this series, he hopes to share some of the strategies he’s cultivated, as well as bring together local and international experts to speak on topics including:

  • Building a successful, structured career as a freelancer
  • Generating passive income
  • Establishing thought leadership
  • Successfully striking work-life balance

Launching in Asia, Shetty is pulling together five events between now and April, with stops in Malaysia, Singapore, Indonesia, and Thailand.

Freedom Summit Philippines will take place on March 30 and 31, at GroundUp Coworking in Paranaque City. SparkUp readers get a special 40 percent discount off of ticket prices by using the promo code: BUSINESSWORLD at checkout.

Senate sends 2019 budget to Duterte

By Camille A. Aguinaldo
Reporter
THE BICAMERAL DEADLOCK over this year’s P3.757-trillion national budget — which threatened to drag overall economic growth — ended on Tuesday as Senate President Vicente C. Sotto III announced that he has signed, with “reservations,” and transmitted the spending plan to Malacañang.
“We are informing that I already signed the budget… it is now going to be an enrolled bill; we sent it to the President but I placed my reservations on the signature. I have incorporated a note that says my signature is in reference to my attached annotation,” he told reporters in a press briefing at his Senate office.
His reservations — in a note attached to the measure — focused on post-ratification changes made by the House of Representatives.
Sought for comment, Socioeconomic Planning Secretary Ernesto M. Pernia replied in a mobile phone message: “It looks like the long delay did not result in a major change in the budget — which time could have been used by the President to consider needed revisions, e.g., for line budget item vetoes.”
“Meanwhile, Q1 growth rate already likely to be trimmed.”
The inter-agency Development Budget Coordination Committee the other week slashed its 2019 gross domestic product growth forecast to 6-7% from 7-8% originally as the government operates on a reenacted budget, while the National Economic and Development Authority — which Mr. Pernia heads as director-general — has estimated separately that operating on a reenacted budget until April would cut full-year growth to 6.1-6.3%.
The government had been banking on front-loading infrastructure work this quarter, ahead of the 45-day ban on public works ahead of the May 13 midterm elections and weather disturbances next semester. The reenacted national budget left new projects unfunded.
Mr. Sotto said the Senate has transmitted to Malacañang the version of the national budget with the changes made by the House of Representatives, leaving President Rodrigo R. Duterte to decide on the provisions questioned by senators.
Presidential Spokesperson Salvador S. Panelo said in a statement that Mr. Duterte would scrutinize the national budget before signing it.
“We assure our people that the President will go over the enrolled bill, scrutinize it and sign it should the same be in accordance with our Constitution and the laws,” Mr. Panelo said. “As we approach the midpoint of the Duterte administration, we remain determined to build on the significant gains that we have started in the first two-and-a-half years and continue to stay on the right track to deliver real and lasting change to our people.”
Asked by reporters if Mr. Duterte would the sign the national budget with the House’s questioned changes, Mr. Panelo said, “It would depend on him. If he feels it’s not in violation with the Constitution, he can sign it immediately.”
“Knowing the President, he will act on it immediately because we need a new budget… Maybe in a few days,” he added.
In his note attached to the national budget transmitted to Malacañang, Mr. Sotto said his signature on the measure was limited to the items approved by the Senate and House in the bicameral conference committee and subsequently ratified.
“In particular, it is my view that it is unconstitutional that P75 billion worth of programs/projects under the Local Infrastructure Program of the Department of Public Works and Highways was funded through internal realignments after the Bicameral Conference Committee Report was ratified,” the Senate leader stated in his note.
He said in his note that Mr. Duterte “may wish to consider disapproving” the questionable provisions by vetoing them.
It was the idea of the Senate Minority Leader Franklin M. Drilon for Mr. Sotto to sign the national budget and to attach his reservations, according to Senator Panfilo M. Lacson in the same briefing.
“What we have done is propose this language to the Senate President, Senator (Senate Majority Leader Juan Miguel F.) Zubiri, Senator Lacson, Senator (Loren B.) Legarda and (Senate President Pro Tempore Ralph G.) Recto in order that we maintain our position that these insertions are unconstitutional, but at the same time, not prejudice national interests by holding on to the unsigned General Appropriations Bill,” Mr. Drilon told reporters in the press briefing.
“We maintain the view that this is unconstitutional but we must find a solution to the impasse in the budget and serve the interest of the nation.”
Messrs. Lacson and Sotto added that they have notified the House and the Executive Department by relaying the information to San Juan City Rep. Ronaldo B. Zamora and to Executive Secretary Salvador C. Medialdea prior to the transmittal of the national budget to Malacañang.

Manila Water waives April bills’ minimum charge

By Victor V. Saulon
Sub-Editor
AYALA-LED Manila Water Co., Inc. will waive the water bill of its customers who were severely affected by the water shortage in March, while waiving the minimum charge of the rest of its customers for the month, in a move that its top official expects to cost at least P150 million.
“We are announcing a voluntary and one-time bill waiver scheme in March to be reflected in the April bill of customers,” said Ferdinand M. Dela Cruz, Manila Water president and chief executive officer, in a press conference at the utility’s head office in Quezon City on Tuesday.
He described the “most severely affected” or hardest hit customers as those without water for at least seven days — whether continuous or intermittent — from March 6 to 31. These customers will not be charged for their water consumption this month.
He said the minimum charge is for 10 cubic meters (cu.m.) covering water, environmental and sewer charges. The charge will be waived for the rest of the company’s customers in Metro Manila’s east concession zone. Consumption beyond 10 cu.m. will be billed.
“We understand the profound frustration that our customers have expressed in the past three weeks,” Mr. Dela Cruz said, as he again apologized to customers for the supply shortage that is beyond a typical service interruption.
He said the decision on the bill waiver was reached with inputs from the Metropolitan Waterworks and Sewerage System (MWSS) corporate and regulatory offices.
Mr. Dela Cruz said the minimum charge ranges from P75.84 per month for Manila Water’s lifeline or low-consuming customers and up to P656.52 for industrial customers. The minimum charge for households is P133.56 a month and for commercial customers, P606.84 a month.
The east concession zone has been experiencing a water supply deficit since March 6, although the shortfall has been brought down to 107 million liters per day (MLD) from 150 MLD at the height of the shortage.
The deficiency came about as water demand reached 1,750 MLD against a 1,600 MLD supply. A new water treatment plant failed to meet its target launch in late 2018 due to technical issues.
Mr. Dela Cruz said there are still “pockets, sitios or streets with intermittent no water situations resulting from operational adjustments and pressure management.”
He said that, as of March 25, the concessionaire’s eight- to 12-hour water availability that reaches the ground level of homes has reached 97%, or from a high of 61 severely affected barangays down to eight barangays.
“We continue to focus on our service recovery efforts,” Mr. Dela Cruz said.
By the end of the month, he expects the availability level to reach 99%, even as he said that he did not want to give “false expectations and false hopes and create more confusion.”
“We will continue to post the specific mechanics. By end of today we will finalize that. We will have to get the actual consumption by the end of March,” he said.
Mr. Dela Cruz said estimated losses from the scheme could reach around P150 million if confined to the waiver of the minimum charge. Loss estimate on the waived bill based on the actual consumption will be finalized by the end of the month.
“Hindi po siya maliit na amount dahil malaki rin ‘yung coverage nu’ng area, typically ito po ‘yung matataas na lugar, (It’s not a small amount because the coverage area is big, typically customers in elevated places),” he said.
MWSS Administrator Reynaldo V. Velasco, who jointly presided over the press conference with Manila Water, said the bill waiver program is applicable to the “extraordinary” situation at hand.
“We cannot ask for more because that is voluntary,” Mr. Velasco said, adding that there are penalties that can be imposed by the MWSS regulatory office apart from the waiver adopted by Manila Water.
“That one that is in the concession agreement is in the hands of the regulatory office.”
Sought for comment, Laban Konsyumer, Inc. (LKI) President Victorio Mario A. Dimagiba said the concessionaire’s move is “laudable” but would not satisfy all who were inconvenienced, including businesses that stopped operating because of the water shortage. “LKI appreciates that the apology is now accompanied by reparation or compensation by Manila Water. It could have been better if their waiver scheme is good till 24/7 service is restored,” he said.
Manila Water provides water and used water services to Mandaluyong, Pasig, San Juan, Marikina, Pateros, Taguig, Makati, southeastern part of Quezon City, as well as San Andres and Sta. Ana in Manila. It also serves towns of Rizal province, including San Mateo, Rodriguez, Antipolo, Cainta, Taytay, Angono, Binangonan, Baras and Jalajala.
Manila Water shares ended flat at P24.60 apiece on Tuesday.

Consortium for NAIA rehab gets end-April ultimatum

By Denise A. Valdez
Reporter
THE DEPARTMENT of Transportation (DoTr) may drop the proposal of a consortium made up of some of the country’s major conglomerates to take over Ninoy Aquino International Airport (NAIA) rehabilitation if it is unable to finalize its contract terms for the project by next month.
Transportation Secretary Arthur P. Tugade said in a media briefing on Tuesday that he wants a definite decision on the group’s proposal by end-April, as discussions on its concession terms have been under way since September last year.
“Doon sa NAIA, merong consortium of seven dyan kung saan tumatagal na ’yung usapan. Kaya sinabi ko, gusto ko na lagyan ng cap. Sabi ko by April 30, pag hindi pa tayo nagkasundo-sundo, gagawin na namin ’yung mga proyekto on the DoTr side. Kasi gusto ko mapabilis ’yung desisyon sa unsolicited proposal ng consortium (On the NAIA rehabilitation, there is a consortium of seven that has been taking long to firm up its proposal. So I wanted to put a cap to this. I told them that if we have not agreed on anything by April 30, the DoTr will do what it can on its own, because I want a quick decision on the consortium’s unsolicited proposal),” he said.
Asked to clarify what the DoTr will do with the proposal past Apr. 30, Mr. Tugade said, “Ang sasabihin ko, ayaw ko nang makipag-usap sa consortium of seven (I will say I don’t want to talk to the consortium anymore).”
The consortium formed by seven of the country’s top conglomerates bagged original proponent status (OPS) from the DoTr in September for its P102-billion proposal to rehabilitate and expand the country’s main air gateway. It is expected to increase the airport’s capacity from the current 30.5 million annual passengers to 47 million in two years and to 65 million in four years.
The seven companies are Aboitiz InfraCapital, Inc.; AC Infrastructure Holdings Corp.; Alliance Global Group, Inc.; Asia’s Emerging Dragon Corp.; Filinvest Development Corp.; JG Summit Holdings, Inc. and Metro Pacific Investments Corp.
After gaining headway through the OPS, the group proceeded to discuss with the DoTr the concession terms of the project, before it is submitted to the National Economic and Development Authority (NEDA) for evaluation.
The DoTr planned to do this by end-2018, but the two parties have yet to arrive at an agreement to date.
Sought for comment, NAIA consortium Spokesperson Jose Emmanuel “Jimbo” P. Reverente said in a mobile phone message on Tuesday only that the group will “comply with the stated deadline of Secretary Tugade.”
Asked for the specific points of contention between the private proponent and the DoTr, Mr. Tugade replied: “Kung ano ’yung mga improvements na ilalagay. Remember, meron silang tinatawag na (people mover) — ’yung mga ganyan. Eh bilisan na nila ’yun, isumite na nila sa amin ’yun. (Details of improvements that will be undertaken. Remember, they talked about a people mover — things like that. They should act faster because we want to submit this proposal to NEDA already).”
Mr. Tugade also aired the possibility of reviewing alternatives should the consortium’s proposal fall through. “May proseso ’yan eh, diba, na unsolicited. Pag pinagawa, pag hindi na-ano yung isa, i-entertain mo ‘yung pangalawa, kung gusto namin ‘yun (There’s a process for unsolicited proposals. If we ask for something, and the other one cannot do it, you entertain the second to see if we will like it),” he said.
Aside from the consortium, the tandem of Megawide Construction Corp. and Indian company GMR Infrastructure Ltd. — which is behind the Mactan-Cebu International Airport — also submitted last year a $3-billion proposal to rehabilitate NAIA. This was set aside to prioritize the consortium’s proposal, which was submitted earlier.
Meanwhile, the P735-billion Bulacan airport proposal of San Miguel Corp. unit San Miguel Holdings Corp. (SMHC) is expected to undergo Swiss challenge next month.
“Inaayos namin ’yung (We’re preparing the) terms of reference for the Swiss challenge. Pagka naayos na natin ito (Once we will have finalized it), hopefully within the next two weeks matatapos na itong negotiation na ito, ipa-publish na natin ito (we will finish negotiations and we will publish a call for other proposals),” Transportation Undersecretary for Aviation Manuel Antonio L. Tamayo said in the same briefing.
Under the Swiss challenge, the government will invite third parties to match the original proposal within a 60-day period.

Fintech group sets financial inclusion objectives

By Melissa Luz T. Lopez
Senior Reporter
A NEW INDUSTRY BODY has set goals for financial inclusion, as its members look to bring 25 million Filipinos aboard the formal financial system through the use of digital technology.
FintechAlliance.ph on Tuesday launched the Governor Nestor A. Espenilla, Jr. Institute for Growth towards National Inclusion, Transformation and Empowerment (IGNITE) which provides a private sector approach to get more adults to use banks and online financial services.
Financial technology (fintech) players attended yesterday’s Inclusion and Digital Transformation Summit and set goals for inclusion.
“Designed to promote inclusive businesses, IGNITE welcomes low-income segments of the population into the formal economy through this disruptive digital financial innovations,” said Lito M. Villanueva, chair of FintechAlliance.ph.
The body targets to include what it calls the “financial access-deficient segment” — or what used to be the “unbanked” — to get their own accounts and transact through formal platforms.
IGNITE targets to equip 25 million adult Filipinos with basic deposit accounts, which they will use for financial transactions. These refer to entry-level accounts that have no maintaining balances and dormancy fees, and can be used for transactions below P50,000.
The group is also looking to reduce the number of unbanked towns and provinces to 25% from 35% currently, as well as allow a fourth of cooperatives, rural banks and micro-finance firms to roll out inter-operable digital products and services.
The multi-stakeholder team is named after the late Mr. Espenilla, who passed away Feb. 23 after battling tongue cancer. He is best known for his Continuity Plus Plus agenda which put a premium on wider access to financial services.
These take off from the self-imposed goal of the Bangko Sentral ng Pilipinas (BSP) to bring 20% of all local payment transactions onto the digital space by 2020, coming from a one percent base back in 2013.
New BSP Governor Benjamin E. Diokno said he is keeping this target, which he inherited from Mr. Espenilla. “I fully support and will carry forward our financial inclusion agenda so that financial services are made more accessible to a great number of Filipinos,” Mr. Diokno said in his keynote speech.
Mr. Villanueva took his oath as president of IGNITE, while Mr. Espenilla’s wife, Ma. Teresita F. Espenilla, will serve as its chairperson. She is a microfinance specialist for the United States Agency for International Development.
Other members of the group’s board of trustees are Finance Undersecretary Gil S. Beltran, Trade Secretary Ramon M. Lopez, Budget Undesecretary Lilia C. Guillermo, CARD MRI founder and managing director Jaime Aristotle B. Alip, Senior Financial Sector Specialists Kelly Hattel of the Asian Development Bank and Gay Santos of the International Finance Corp., SunLife Financial Philippines Country Head and Chief Executive Officer Rizalina G. Mantaring, Microsoft National Technology Officer Richard Bon Moya, National Confederation of Cooperatives Chief Executive Officer Sylvia O. Paraguya, and Producers Savings Bank Corp. President Gilda E. Pico.
Digitizing payments and remittances is expected to lead to a “highly efficient” fund flow that, in turn, will help fuel economic growth, while making these services cheaper and more accessible.

LRWC to raise P4.4B from private placement

By Arra B. Francia, Reporter
LEISURE & Resorts World Corp. (LRWC) has approved the issuance of shares via private placement to several investors, which could bring in P4.38 billion in fresh capital.
In a disclosure to the stock exchange on Tuesday, the listed gaming firm said its board of directors has approved and authorized the issuance of 1.22 billion common shares out of its unissued capital stock.
The shares were priced at P3.60 each, representing a premium over the firm’s closing price of P3.30 on Nov. 29, 2018.
The shares were issued to six firms, namely Fortunegate Holdings Philippines, Inc., Millennium Pan Asia Business Management Services, Inc., XII Capital Inc., and Diamond Fortune Holdings, Inc. with 230 million shares each. Leisure Advantage, Inc. was issued 176.65 million shares, while Euphonious Holdings, Inc. was issued 121 million shares.
Fortunegate Holdings, Millennium Pan Asia, and Diamond Fortune also have interests in casino operations in the country and abroad.
LRWC will use the proceeds of the private placement to refinance existing debt and for general corporate purposes.
The company is currently planning a $550-million integrated resort in Boracay in partnership with Macau-based casino giant Galaxy Entertainment Group.
The 23-hectare project will also house a casino, although the company earlier said that the casino component will only cover 7.5% of its total floor area. This means that bulk of revenues from the project should come from the resort, which will have hotel rooms and other amenities such as wellness centers, bars, lounges, and fine-dining restaurants.
The project will target families and Galaxy’s database of clients across the region, as well as travelers and Chinese tourists in Boracay.
LRWC targets to open the Boracay resort by 2021.
Incorporated in 1957 originally as Atlas Fertilizer Corp., LRWC underwent a corporate restructuring program that changed its primary purpose to that of a real estate firm focused on the leisure segment.
Its subsidiaries include AB Leisure Exponents, Inc., which operates traditional, electronic, pulltabs, and rapid bingo games. It also has a 69.68% interest in First Cagayan Leisure & Resort Corp., which has license to develop, operate, and conduct internet and gaming enterprises in the Cagayan Special Economic Zone Free port.
LRWC’s net income attributable to the parent fell 27% to P266.04 million in the first nine months of 2018, amid a flat revenue growth at one percent to P7.42 billion in the same period.
Shares in LRWC jumped 3.20% or 12 centavos to close at P3.87 each at the stock exchange on Tuesday.

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