Facebook Instagram Linkedin X Youtube
Home Blog Page 11475

Harden lifts Rockets

The Lakers were pumped. Heading into the Toyota Center, they figured they could generate the momentum they needed to prove, at the very least to themselves, that they could win under pressure with consistency even absent top dog LeBron James. That was certainly what they did against the highly regarded Thunder last Friday, hanging tough in overtime after looking lost and ripe for the picking early on. And for a while there, it looked as if they possessed the resolve to do so anew against the Rockets on the road.
Indeed, the Lakers pounced on the 2018 Western Conference finalists from the get-go, erecting a lead that ballooned to as many as 21 points and that stood at 18 after two quarters. And then something happened. James Harden happened. With the visitors seemingly putting the cuffs on the Rockets’ vaunted offense, he got to work in the crunch and led a comeback to force overtime. It didn’t matter that the deficit still stood in double figures late in the fourth quarter. Never mind that he seemed off up until then, his streak of 30-point games looked to be in jeopardy.
As things turned out, the Rockets wound up with a victory they didn’t have any business claiming. Harden’s 22-point explosion in the last 12 and a half minutes of yesterday’s contest kept alive his historic streak of 30-marker outputs to 19 matches, not to mention the bid of the red and white to stay within range of homecourt advantage in the first round of the playoffs. It has been a grind for him; with nine-time All-Star Chris Paul remaining decommissioned by a hamstring injury and pick-and-roll partner Clint Capela likewise sidelined, he has carried much of the load.
Creditably, Harden has delivered, and in spades. He has put up at least 40 in 10 of the last 13, and he came to within a basket of turning in a third-consecutive 50-point stat line. And it’s no coincidence that the Rockets’ record through his continuing assault on the record books stands at a heady 14-5. How long he can keep performing at an otherworldly level while getting little to no rest remains to be seen. Yesterday, he looked less springy to start, finding the energy only with the set-to on the line.
In any case, Harden isn’t leaving anything in the tank, if for nothing else than because he can’t. En route, he has rightly turned the Most Valuable Player discussion, once dominated by the Bucks’ Giannis Antetokounmpo, into a two-man race. Meanwhile, the Rockets are thriving, with their fingers crossed he can keep carrying them until the hardware is in sight.
 
Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994.

SM founder Henry Sy, Sr passes away

Henry Sy, Sr., country’s richest man and the founder of the largest chain of shopping malls in the Philippines, passed away on Saturday morning, Jan. 19. He was 94 years old.
“It is with deep sadness that we inform you of the peaceful passing of our beloved Chairman Emeritus, founder and Tatang, Mr. Henry Sy, Sr. this morning,” SM Investments Corp. (SMIC) said in a statement.
Mr. Sy was the chairman emeritus of SMIC, SM Prime Holdings, Inc., and BDO Unibank, Inc. at the time of his death.
He was consistently named as the Philippines’ richest man by Forbes magazine since 2008, with his wealth estimated at $18.3 billion as of September 2018.
“We are truly grateful for the outpouring of sympathy on the passing of our father, Henry Sy, Sr.,” a family representative said in a separate message, requesting the public for privacy while they “reflect and finalize arrangements.”
Mr. Sy was born in Xiamen, China in November 1924, where he would stay and attend school until he was 12 years old. In 1936, he followed his father to the Philippines, where he operated a store that sold rice, sardines, and soap.
Misfortune however struck when their store burned down during World War II. His father was then forced to return to China, but Mr. Sy decided to stay in the Philippines.
Mr. Sy started selling surplus G.I. boots of US soldiers after the war. Having saved up enough money from this venture, he opened a shoe store named ShoeMart in Marikina in 1958. He started with six shoe stores, then diversified into clothing and soft goods.
He then went into real estate development through Multi-Realty Development Corp. in 1974, diversifying his interests into high-rise developments initially in prime lots in Makati City.
In 1976, Mr. Sy acquired Acme Savings Bank, which would be renamed as Banco de Oro and is now currently known as BDO Unibank, Inc.
Mr. Sy opened his first supermall called SM North EDSA in Quezon City in 1985. More malls would follow in the 1990s, namely SM City Sta. Mesa, SM Megamall, and SM City Cebu. SM Prime went public in 1994 and raised around P6 billion, paving the way for the company’s rapid expansion. It currently has 72 malls in the country, plus seven in China.
From these humble beginnings, the Sy family has grown SM Prime and SMIC to be the only two companies in the country to have reached the trillion-peso mark in terms of market capitalization.
BDO is also the largest bank in the country in asset terms at P2.79 trillion.
Aside from property, banking, and retail, the Sy group also has interests in leisure through Belle Corp., logistics through 2GO Group, Inc., and mining through Atlas Consolidated Mining & Development Corp.
The SM Group of Companies is now being run by his children, namely Teresita, Elizabeth, Henry Jr., Hans, Herbert, and Harley.
Details of his wake have yet to be disclosed.

Hanjin receiver gets down to work

By Janina C. Lim, Reporter
THE REHABILITATION RECEIVER for Hanjin Heavy Industries and Construction Philippines, Inc. (HHIC-Phil) has buckled down to work, aiming first to determine the viability of the shipbuilder’s plan to pay its creditors, suppliers and remaining workers.
“Ang mahalaga dito makuha natin ‘yung rehabilitation plan, ‘yung approval by the court (What is important here is that we get the rehabilitation plan and court approval) because that is what we will be implementing maybe for months to come or for years to come,” Stefani C. Saño, the receiver appointed by the Olongapo City court that put HHIC-Phil under rehabilitation last Monday, said in a telephone interview on Friday.
“Ang mahalaga ‘dun, kasama ang creditors sa pag-formulate and pag-implement ng plan (What is important there is that the creditors are involved both in formulating and implementing the plan),” said the former Subic Bay Metropolitan Authority deputy administrator.
“Isa-submit muna natin ang (We will first submit) preliminary findings if we can really push through with rehabilitation or altogether baguhin ‘yung plano (revise the plan), bearing in mind the interest of the community: mainly the creditors, suppliers and labor.”
The first order of the day, Mr. Saño said, would be to “preserve and conserve the assets”, adding: “[n]aglagay ako ng security guards na pwede pagdaanan ng assets (I have deployed security guards at points through which assets could be trucked away).”
On Monday, he will begin taking inventory of Hanjin’s assets with the help of a team consisting of four lawyers and three accountants who may likewise work full-time on the case.
“May specific order ‘yung court that it should take custody of these assets,” Mr. Saño said.
“By Monday… starting that day… we would be monitoring the performance according to certain agreed-upon and court-approved targets.”
Noting that HHIC-Phil’s declared assets of about $1.5 billion compares to up to $412 million it still owed to Rizal Commercial Banking Corp. ($145 million); Land Bank of the Philippines (reported at $85 million); the Metropolitan Bank & Trust Co. ($70 million); BDO Unibank, Inc. ($60 million) and the Bank of the Philippine Islands ($52 million), Mr. Saño said “[s]o pag tinignan mo ‘yun may chance na mabayaran talaga nila ‘yung obligation nila (so, when you take that into consideration, there is a good chance that HHIC-Phil can meet its obligations).”
He cited the need to get details of such obligations, including some $900 million owed to foreign outfits, saying “kasama daw ‘yung ‘di utang; kasama ‘yung supliers and some advances from other companies (this amount could include obligations that are owed to suppliers and advances from other companies).”
“So hindi siguro masyadong (It may not be) correct na i-lump mo ‘yung figures in one. So that’s one of the things we have to verify.”
The first court hearing, he said, is scheduled on Feb. 8.
Saying he will also be the point man for interested white knights, Mr. Saño said: “Marami nang tumawag (there are many that have inquired).”
“This week lang (alone), I have eight offers already, but basically I just asked them: ‘It will help us a lot if you come up with your letters of intent so that we have some basis for referral and evaluation’.”

December BoP surplus biggest in more than six years

The central bank said ‘[t]he higher cumulative BoP deficit for the period (full-year 2018) may be attributed partly to the widening merchandise trade deficit for the first 11 months of the year that was brought about by the sustained rise in imports of raw materials and intermediate goods as well as capital goods to support domestic expansion.’

By Elijah Joseph C. Tubayan, Reporter
THE PHILIPPINES’ balance of payments (BoP) posted the biggest surplus in more than six years in December, which also marked the second straight month of surfeit, the Bangko Sentral ng Pilipinas (BSP) reported on Friday, but it still ended 2018 with a wider deficit than in 2017.
BoP settled at a $2.442-billion surplus in December, the biggest monthly surfeit since the $3.182 billion recorded in July 2012.
That was 2018’s second monthly surplus since November’s $847 million, and was more than double the year-ago $917 million.
The BoP measures the country’s transactions with the rest of the world. A surplus means more money entered the Philippines than what left, while a deficit means otherwise.
“Inflows in December 2018 stemmed mainly from the BSP’s foreign exchange operations, national government’s net foreign currency deposits, and BSP’s income from its investments abroad during the month,” the central bank said in a press release accompanying the data.
It noted that the inflows were partly offset by national government payments for its foreign exchange obligations.
The full-year $2.306-billion deficit was nearly three times 2017’s $863-million gap but was less than half the $5.5-billion external payments gap expected by the BSP for 2018.
Last year’s BoP deficit was still the largest shortfall recorded since 2014’s $2.858-billion gap.
“The higher cumulative BoP deficit for the period may be attributed partly to the widening merchandise trade deficit for the first 11 months of the year that was brought about by the sustained rise in imports of raw materials and intermediate goods as well as capital goods to support domestic expansion,” the BSP said.
Latest Philippine Statistics Authority data show that the country’s trade balance settled a $37.687-billion deficit as of November last year, much bigger than the $23.408-billion shortfall during 2017’s comparable eleven months. Capital goods accounted for about a third of the 11-month imports and rose 15.5% year-on-year.
NOT A CAUSE FOR CONCERN
Sought for comment, economists said that the country’s robust macroeconomic base shows the bigger BoP deficit should not cause much worry.
“As long as economic growth is robust, the external position — however it is — is fine. As long as macroeconomic fundamentals are healthy, the Philippines general ledger of transactions are considered fine,” Union Bank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion said in an e-mail.
“The weak peso did this in and it was expected. Although I expect the peso to further weaken this 2019, the current BoP situation is not at all bothersome.”
Michael L. Ricafort, economist at the Rizal Commercial Banking Corp., said in a separate e-mail that “Philippine economic and credit fundamentals remained solid, as partly attested by the affirmation of the country’s credit ratings, as well as economic growth at six-percent levels in 2018 — among the slowest in three years partly due to higher inflation, but still among the highest/fastest in Asia/ASEAN (Association of Southeast Asia), a sign of resilience.”
Mr. Ricafort added that “[t]he wider BoP surplus in December 2018 may also be attributed to some seasonal increase in the country’s major structural foreign revenue sources, especially OFW (overseas Filipino) remittances, BPO (business process outsourcing) revenues and foreign tourism receipts, in view of Christmas-/Yuletide-related holiday spending.”

Duterte to reach out to Misuari after BOL ratification

By Camille A. Aguinaldo, Reporter
PRESIDENT Rodrigo R. Duterte expressed his intention to talk to Nur Misuari after the ratification of the Bangsamoro Organic Law (BOL) in order to forge a peace agreement with the Moro National Liberation Front (MNLF).
The MNLF is originally the mother organization of the Moro Islamic Liberation Front (MILF), which broke away from that group soon after Mr. Misuari’s peace agreement with the Marcos regime in the 1970s. Leaders of the MILF will be the administrators in a ratified BOL.
“I hope to talk to him in the coming days as we agreed. Sabi ko tapusin muna natin ito (let’s finish this first)….Then we can resume after the Bangsamoro. I would call out to him, extend my hand in friendship and peace and I hope that we can strike an agreement that will also promote the interest of the MNLF, and the rest of the Moro of Mindanao,” Mr. Duterte said in Cotabato City, during the Peace Assembly for the BOL’s ratification.
Mr. Misuari, the founding chairman of the MNLF, went into hiding for three years following the 2013 Zamboanga siege soon after the MILF’s peace deal with the government, then headed by President Benigno S.C. Aquino III. He has been granted temporary liberty by Mr. Duterte and after posting bail in the Sandiganbayan.
During the administration of President Fidel V. Ramos, Mr. Misuari forged a peace deal with that government to lead the Autonomous Region in Muslim Mindanao (ARMM), which a new administration under the ratified BOL will replace.
Messrs. Duterte and Misuari had a discussion on federalism during a private meeting last August, one month after the signing of the BOL.
Mr. Duterte appealed to Mr. Misuari for talks in order to come up with “something that could come to the barest minimum” in order to achieve a peaceful Mindanao.
“May I guarantee you there will be the least disturbance or interference if there is a workable government,” he said.
Mr. Duterte also called on Mindanao voters to ratify the BOL in the plebiscite scheduled on Jan. 21 and Feb. 6.
“I call on my fellow Moro: let us use the plebiscite as peaceful means to finally correct the historical injustice committed against the Bangsamoro people,” he said.
“Let us forget the bitterness of the past, and look forward to the future, which means, ladies and gentlemen, my beloved Moro brother and sister, let us vote yes,” he added.
According to the Commission on Elections (Comelec), about 2.8 million registered vote are expected to participate in the plebiscite.
SURVEY ON BOL
A survey conducted by International Alert (Alert) Philippines showed 70.8% of 328 respondents, aged 18 to 35 years old, are in favor of ratification, an increase from the 60.4% recorded from a survey conducted in October to November last year.
“This data on youth preference is important because intention to vote is fluid. Even those who declared they will not go to the polls may change their mind before the plebiscite,” Alert’s country manager Nikki de la Rosa said.
Ms. De la Rosa said the rise in youths’ preference of the BOL could be linked to the increase of supporters in the provinces of Tawi-Tawi, Maguindanao, and Lanao del Sur.
Respondents who are familiar with the BOL also surged to 93.5% from 84% last year.
“It is also plausible that the campaign period was generally successful in familiarizing the youth with the provisions of the BOL,” Ms. De la Rosa said.
Despite the overall increase of support for ratification, the “no” votes also increased in the cities of Isabela and Cotabato, where resistance to the BOL is anticipated.
The “no” votes in Isabela City increased to 35.6% from 8.8% last year while in Cotabato City it jumped to 32% from 13.6%.
Alert statistician Angelo Casalan said the loss of confidence in the BOL may be due to the New Year’s Eve bombing outside a department store in Cotabato City which claimed two lives and injured 34 others.
Meanwhile, the most pressing issues that the youths said that have to be addressed, regardless of their preference of the BOL, are terrorism, poverty, corruption, crime and unemployment. — with Vann Marlo M. Villegas

Poll expectations in Duterte’s promises inches up

MORE adult Filipinos expect President Rodrigo R. Duterte to fulfill most, if not all of his promises, the Social Weather Station reported on Friday.
In its fourth quarter poll, SWS recorded 48% of Filipinos trust the President can deliver his promises, with 13% of the respondents answering “all or nearly all,” while the other 35% said he can fulfill “most.”
Of the remaining share, 46% answered “a few” and 6% said “none or almost none.” The poll body noted that those who did not at all expect the President to fulfill his promise were also those who gave him a “neutral” satisfaction rating.
The recent survey result was two points higher than the March 2018 survey, which showed 46% Filipinos expected President Duterte’s promises to be executed.
The poll body attributed the 2-point increase to a rise in Visayas (8 points to 46%) and Balance Luzon (5 points to 49%), offset by a decline in Mr. Duterte’s home region of Mindanao (10 points to 50%), where martial law incidentally continues to be enforced since the 2017 terror siege of Marawi City.
A June 2016 by the SWS, before the beginning of Mr. Duterte’s term, showed 63% of Filipinos expecting most, if not all, of his promises to be fulfilled. This declined in Sept. 2016 to 56% and in March 2017 to 52%.
“It fell to a personal record-low of 35% (8% all or nearly all, 27% most) in September 2017, just after Pres. Duterte’s one-year mark in office, before recovering to 46% in March 2018 and 48% in December 2018,” the SWS also said.
The poll also found that expectations rose in urban areas, and among respondents within Class ABC and Class E.
Further, the noncommissioned survey showed expectations rise slightly in all educational levels.
The noncommissioned survey was conducted from December 16-19, 2018, using face-to-face interviews with 1,440 adults nationwide: 360 each in Balance Luzon, Metro Manila, Visayas, and Mindanao, with sampling error margins of ±2.6% for national percentages, and ±5% each for the said areas. — Charmaine A. Tadalan

Palace slams PHL assessment by ACLED, Human Rights Watch

By Camille A. Aguinaldo, Reporter
THE Philippines does not need the lectures of “inexpert foreign groups on how the run a nation,” Malacañang said on Friday, following a report by a US-based non-governmental organization which labeled the country as a “war zone in disguise.”
‘WAR ZONE IN DISGUISE’
The 2018 report of the Armed Conflict Location and Event Data Project (ACLED) places the Philippines as among the “deadliest countries for civilians” after Syria, Nigeria, Yemen, and Afghanistan, citing the government’s campaign against illegal drugs.
“The Philippines is a war zone in disguise. More civilians were killed in the Philippines in 2018 than in Iraq, Somalia, or the Democractic Republic of Congo — highlighting the lethality of President Rodrigo Duterte’s “War on Drugs” -cum-state terror campaign. Throughout the year, the Philippines saw similar levels of civilian fatalities stemming from direct civilian targeting as Afghanistan,” the report stated.
According to its website, ACLED is a “disaggregated conflict collection, analysis, and crisis mapping project” which collects information of reported political violence and protests around the world.
For its part, New York-based advocacy group Human Rights Watch (HR) said in its annual report that the human rights crisis in the Philippines has “deepened.”
“The human rights crisis in the Philippines unleashed since President Rodrigo Duterte took office in June 2016 deepened in 2028 as Duterte continued his murderous “war on drugs” in the face of mounting international criticism,” the HRW World Report 2019 stated.
The report also cited the Philippines’ withdrawal from the International Criminal Court (ICC), the removal of Chief Justice Maria Loudes P.A. Sereno, and the presidential revocation of the amnesty granted to Senator Antonio F. Trillanes IV.
It also took note of the Philippine Drug Enforcement Agency’s (PDEA) plan to impose mandatory drug testing among teachers and schoolchildren from Grade 4 up and the attacks on journalists, among other circumstances.
Despite these incidents, HRW’s annual report also cited the “rare triumph of accountability” with the guilty verdict of three police officers in the murder of 17-year-old Kian Delos Santos and the conviction of former military officer Jovito S. Palparan, Jr.
‘IGNORANCE AND BIAS’
In a statement, Presidential Spokesperson and Legal Counsel Salvador S. Panelo described the ACLED report as “remarkable in ignorance and bias.” It was also an “infinitely fallacious finding” to allege state repression in the Philippines, he said.
“Not having presented any proof that it has conducted factual investigation in the country as to the conditions obtaining, it is reasonable to believe that its conclusions is based on allegations made by groups that are hopelessly and blindly critical of the Duterte administration,” Mr. Panelo said.
Mr. Panelo said the government has repeatedly debunked allegations of impunity in the country, maintaining that the anti-illegal drug campaign is goverened by strict police protocols.
Mr. Panelo on Friday also responded to the remarks of former Ombudsman Conchita Carpio-Morales at a forum last Thursday about the recycling of dismissed officials and the acquittal verdicts in some graft-related cases in the Sandiganbayan.
“We understand the expression of disappointment of former Ombudsman Morales on the acquittal of the accused in plunder and graft-related cases. But contrary to the perception by some that she is blaming the dismissal of those cases to the current administration, she is not, and she said so herself when asked by this representation,” Mr. Panelo said, citing a conversation with Ms. Morales.
“We are certain that the present Ombudsman (Samuel R. Martires) must have wised up to the legal debacles that his office lost and learned from the lessons presented to it.”

Palace bares new appointees

Malacañang on Friday disclosed three new appointees of President Rodrigo R. Duterte in the Department of Social Welfare and Development (DSWD) and the Department of Tourism (DoT).
In the appointment papers, signed on Jan. 15, the President named Mark Allan Jay Gutierrez Yambao as new DSWD Undersecretary.
Mr. Yambao was a former Malabon City vice-mayor and former assistant secretary of the Department of Environment and Natural Resources.
Michelle Aguilar-Ong was appointed new member of the Board of Trustees of the Nayong Pilipino Foundation. Ms. Ong will replace Gerald V. Medina and shall serve his unexpired term until June 30 this year.
Lucille Karen E. Malilong-Isberto was also appointed to the same board, an attached agency of DoT, for a term that also ends on June 30. — C.A.Tadalan

IRRI calls for gov’t preparations amid monitoring of El Niño

Los Baños, Laguna — The International Rice Research Institute (IRRI) called for preparations against the threat of the El Niño weather phenomenon as being currently monitored by the state weather bureau.
Weather bureau Philippine Atmospheric Geographical and Astronomical Services Administration (PAGASA) said it is currently on its El Niño watch.
Asked when El Niño could hit the country, Ana Liza Solis, officer-in-charge of PAGASA’s climate monitoring and prediction section, said via text, “Short lived weak El Niño could last for five, overlapping three months. As of now, around 80% chance to develop El Niño by end of January to February 2019. If this (does) not happen, it will not sustain a fully developed El Niño. El Niño or not, as of December 2018, nine provinces in Mindanao experienced dry spell while Ilocos Norte (had a) drought.”
“With the passage of LPA or depression this weekend in Mindanao, some may recover from dry spell.”
Sudhir Yadav, senior scientist for IRRI Water Management, said that it is necessary to think that in the future, there will be many climate change events, and not just prepare for a one-time incident.
“We prepare for the future. One of our big programs is thinking about…the future. There will be many of this type of event, there will be drought and flood.”
“One of the challenges of climate change is (that) these extreme weather events are likely to get even more severe in the future,” IRRI director-general Matthew Morell, for his part, told reporters at the IRRI headquarters here during the visit of Sri Lanka President Maithripala Sirisena.
“This El Niño won’t be the last. It would be a continuous cycle of weather events that we need to be prepared to address,” Mr. Morell added.
He said rice crops should withstand challenges of climate change such as drought and flooding. But he pointed out too that the Philippines has different rice varieties which are drought and flood resilient and which IRRI is also developing.
“We also work closely with partners here in the Philippines about rice production systems, about what to use…We also work closely with the government in predicting rice production using remote sensing satellite,” Mr. Morell said.
Mr. Sirisena was at IRRI to sign a five-year work plan with IRRI to help Sri Lanka sustain rice sufficiency and export more rice, in accordance with the New Sri Lanka National Plan for the Rice Sector. — Reicelene Joy N. Ignacio

Peco assures no power disruption despite end of franchise

By Victor V. Saulon, Sub-Editor
THERE will be no power disruption in the Iloilo area despite the end of the franchise of Panay Electric Co. (Peco), the Department of Energy (DoE) said on Friday.
“Today marks the end of the franchise of [Peco],” DoE Assistant Secretary Redentor E. Delola said in a press conference on Friday. “The Department of Energy (DoE) would like to reassure our kababayans in Iloilo [City], La Paz, Jaro and Arevalo that there will be no power disruption despite the end of the franchise of the power service provider in the area.”
Mr. Delola said the department, along with the “energy family,” had met with Peco’s energy suppliers, system operator National Grid Corporation of the Philippines, the Philippine Electricity Market Corp., the Independent Electricity Market Operator of the Philippines, and the Energy Regulatory Commission “to discuss the plans and the way forward for the area of Iloilo, and the areas served by Peco.”
Mr. Delola said Peco had given its assurance that its operations would continue even with the expiration of its franchise.
“They agreed to continue providing the services in Iloilo. Furthermore, Peco also affirmed its commitment to honor its obligations to its suppliers,” he said, referring to Panay Power Corp., Panay Energy Development Corp., and Palm Concepcion Power Corp.
Mr. Delola also cited Peco’s responsibilities with the Wholesale Electricity Spot Market and other service providers while it continues to operate the distribution system in its service areas.
The DoE, which held talks with Peco, pointed out that the private distribution utility may continue its services since the “certificate of public convenience and necessity” issued by the then Energy Regulatory Board, the precursor of ERC, is set to expire on May 25.
In a statement, the department quoted Secretary Alfonso G. Cusi as saying that public interest “is the primordial concern.”
“Given the crucial role of regional economies in the overall progress of the country, uninterrupted energy services in Iloilo is of utmost importance. This is based on the provisions of the Public Service Law and the Electric Power Industry Reform Act of 2001. The consumers should likewise continue to recognize [Peco] as the power distribution service provider and acknowledge their obligations,” Mr. Cusi said.
The DoE is scheduled to call another meeting next week to discuss developments on the matter.
“We are in close coordination with all concerned stakeholders, including the [ERC], to ensure that Iloilo will not be left in the dark. The entire energy family remains committed in seeking solutions that would make energy services more reliable and sustainable throughout the country,” Mr. Cusi said.

eSakay looking to expand eJeep fleet

By Victor V. Saulon, Sub-Editor
ELECTRIC vehicle solutions provider eSakay, Inc. is looking to expand its fleet, depending on the public’s reception to its initial 15 “eJeeps” plying the MRT Buendia Station-Mandaluyong City Hall route for about a month now.
“We decided to go for one (franchise, for now). If it fits well, and see how this operates, we understand this better, then we’d be more aggressive down the road,” said Alfredo S. Panlilio, eSakay chairman and also senior vice-president of distribution utility Manila Electric Co. (Meralco).
eSakay, a wholly owned subsidiary of Meralco, formally launched the service on Friday at Circuit Makati. It has invested close to P2 million per vehicle.
Mr. Panlilio said the design of the eJeeps is from Israel, although the vehicles were manufactured and imported from China.
The eJeeps are fully electric, emission-free, and compliant with the government’s public utility vehicle innovations for convenience and safety. The vehicles are equipped with side entrances, onboard wifi and USB ports.
Although the fare for eJeeps rides is paid in cash, it will eventually be under an automated fare collection system. The vehicles also have a GSP tracking system and CCTV cameras. The service will also designate priority seating for senior citizens and persons with disabilities.
Mr. Panlilio said Meralco has long been an advocate for the wider use of electric vehicles in the country with the EV shuttling service and electric bike sharing program at the Meralco Center in Ortigas.
“It soon became clear to us that electric vehicles were indeed a viable transport solution. That’s when we partnered with private companies, government institutions and now, public transport operators who expressed keen interest in utilizing EVs for their transport needs,” he said.
Raymond B. Ravelo, eSakay president and chief executive officer, said that beyond supporting transport operators by supplying electric public utility vehicles and building charging stations, the company realized that it could create a greater impact “by being one with them.”
“From this was born our project to operate an electric jeepney route connecting Mandaluyong to the Makati [central business district],” he said.
Company officials said their thrust is to encourage and enable existing jeepney operators to modernize their fleet as well as ensure that drivers have stable livelihood.

China Energy signs common-tower deal with DICT

CHINA Energy Equipment Co. Ltd. (CEEC) signed a memorandum of understanding (MoU) on Friday with the Department of Information and Communications Technology (DICT) to become the fifth shared telecommunications infrastructure provider.
In a briefing after the signing ceremony, the Chinese company said it is confident in its ability to meet the government’s target of installing 50,000 common towers for use by telecommunications firms.
CEEC Vice-President Huang Fei said the number of towers it will build will rely largely on the orders it will receive from telco operators, he said CEEC has funding of around $4.4 billion for 50,000 towers.
“They can now go to the telcos and try to get business from them. And even just one business or telco will agree to have transaction with China Energy, then the roll out will depend on the number of towers that they will try to build,” DICT Outgoing Chief Eliseo M. Rio, Jr. told reporters.
“They can go to us and then we will sign a memorandum of agreement that will now have a stronger support from DICT,” Mr. Rio added.
Mr. Rio noted that such support will include facilitatio of permits and addressing right of way issues.
Asked if costs for telco firms will fall under the common-tower system, Mr. Rio said, “Definitely.” — Reicelene Joy N. Ignacio

1...11,47411,47511,476...14,251Page 11,475 of 14,251
ADVERTISEMENT
ADVERTISEMENT
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin X Youtube