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No GDP boost from flat second-quarter agriculture output

FARM OUTPUT barely grew last quarter as a drop in crops and fisheries offset increases in livestock and poultry, the Philippine Statistics Authority (PSA) reported on Wednesday, prompting economists to say that overall economic expansion in the same three months — to be reported hours ahead of today’s monetary policy meeting that is expected to yield the year’s third consecutive interest rate hike after the PSA reported a fresh five-year-high 5.7% inflation rate on Tuesday — could not look to the sector for any boost.
The PSA reported that agricultural output grew in value terms by a nearly flat 0.07% annually last quarter, compared to the upward-revised year-ago 6.22% and the first quarter’s 1.47%.
The latest data brought first-half growth of farm output — which contributes nearly a tenth to gross domestic product (GDP) — to just 0.58% against a 2.5-3.5% annual target for the sector under the 2017-2022 Philippine Development Plan.
“Overall, the outlook for recovery is a major challenge,” Rolando T. Dy, executive director of the University of Asia and the Pacific’s Center for Food and Agribusiness, said in an e-mail when sought for comment.
“Given 0.6% growth in the first half, to grow by two percent in 2018, the second half must post three percent growth.”
Saying that the second quarter’s “modest growth” that was “almost flat” due “to the higher base/denominator a year ago… would have a small contribution to 2Q 2018 GDP growth rate,” Michael L. Ricafort, head of Rizal Commercial Banking Corp.’s Economic and Industry Research Division, said in a separate e-mail that “growth of agriculture production for 3Q 2018 and for the rest of 2018 would start to pick up due to lower base/denominator in 2H 2018.”
At the same time, he said damage from floods “since the early part of 3Q 2018 could somewhat… slow down agriculture production growth”, while “higher inflation that raised the cost of fuel/petroleum, transportation and other inputs could also be a drag to further growth in agriculture production.”
Noting that “weather disturbances, pest attacks and advance harvesting” weighed on crop production last quarter, Land Bank of the Philippines market economist Guian Angelo S. Dumalagan said in a mobile phone message that “[n]ext quarter, we might still be seeing weak data from the crops subsector due to the recent typhoons that hit the country.”
“This drop in crop output may contribute to a decline in agricultural production in the third quarter.”
SUBSECTORS
Production of the crops subsector — which accounted for 49.65% of total value of agricultural output — fell by 2.08%, causing a 0.44% reduction last semester.
Palay production, which accounted for 17.27% of overall farm production value, dropped 1.44% as volume fell to 4.09 million metric tons (MMT) from 4.15 MMT due to a decrease in area harvested in Cagayan Valley as farmers opted to harvest in the latter part of the preceding three months “to avail of the good price offered by traders”, a shift to cassava and sugarcane, as well as early harvest in the South Cotabato-Cotabato-Sultan Kudarat-Sarangani-General Santos City (SOCCSKSARGEN) region in Minanao “because of hot weather conditions”.
Production of this staple edged up 1.68% to 8,713 MMT last semester from 8.569 MMT in 2017’s first half, which saw a 12.06% growth.
Production of corn — another staple that made up 17.27% of total output value — fell by 3.42% in volume terms to 1.284 MMT from 1.33 MMT also due to a decrease in area harvested in Cagayan Valley due to early harvesting and in SOCCSKSARGEN “due to insufficient rains” the preceding three months.
Production of this grain edged up by 1.75% to 3.761 MMT last semester from 3.696 MMT in 2017’s first half, which recorded a 30.7% surge.
Fisheries, which contributed 16.85% to total farm output value, slipped by 0.05% on smaller production of milkfish, tiger prawn, round scad and yellowfin tuna while tilapia, skipjack and seaweed increased, making first-half production drop 2.14%.
On the other hand, poultry — which accounted for 16.83% of total farm output — grew by 5.14% last quarter as most of the subsector’s segments, except duck, increased, fueling a 5.19% expansion last semester.
Similarly, livestock — which made up 16.67% — grew 1.88%, partly as hog production increased by 2.81, driving first-half production to increase by 1.95%.
Farmers got a better deal for their products overall, as farmgate prices rose by 5.48% — driven by increases of 6.27%, 7.83% and 6.75% for crops, livestock and fisheries, respectively, that offset a 0.25% decline for poultry — fueling a 6.39% hike last semester. — with inputs from C. A. V. Olano and A. G. A. Mogato
Philippine agriculture performance (Q2 2018)

EDC delisting from PHL stock exchange

By Victor V. Saulon, Sub-editor
ENERGY Development Corp. (EDC) said its board of directors had approved on Wednesday the voluntary delisting of the Lopez-led company’s common shares from the main board of the Philippine Stock Exchange (PSE).
In a disclosure to the exchange, the renewable energy company said it would conduct a tender offer for up to 2,040,006,713 common shares at P7.25 each that are held collectively by the public.
“The intention to eventually delist EDC was shared with the market last year and the tender offer that our board has approved today presents a meaningful opportunity for our minority shareholders to realize their investment prior to the delisting of the company, at a significant premium to the current share price,” EDC President and Chief Operating Officer Richard B. Tantoco stated.
EDC, along with its parent firm First Gen Corp., sought a suspension of trading of its shares because of the delisting decision. Its shares were last traded at P4.95 each.
The company said the tender offer price is “subject to certain terms and conditions as now or hereafter set forth” by the company. Excluded from the tender offer are shares held by Red Vulcan Holdings Corp., First Gen Corp., Northern Terracotta Power Corp., and Philippine Renewable Energy Holdings Corp. (PREHC).
The tender offer price represents a 46% premium over the closing share price on Aug. 7, and a 40% premium over the three-month volume weighted average price of P5.18.
EDC said independent financial adviser KPMG issued an opinion based on an independent valuation that the tender offer price is fair and reasonable from a financial point of view.
Subject to the filing by EDC of the tender offer report with the Securities and Exchange Commission (SEC), the offering period is expected to run from Sept. 25 to Oct. 22, 2018.
It is subject to a minimum of 1,162,000,000 common shares being tendered and eligible for acceptance by EDC, which will reduce the percentage of shares held by the public from 10.9% to less than 5%. The reduction will allow a voluntary delisting of the company, subject to PSE approval on the threshold condition.
With the SEC’s approval, EDC may extend the tender offer period and may, at its discretion, waive the threshold condition.
The tender offer follows the completion in September 2017 of PREHC voluntary tender offer to acquire 8.9 billion common shares of EDC.
EDC said at that time, PREHC and First Gen had communicated to the market their intentions to eventually delist the unit, to pursue a corporate strategy that would require greater flexibility over factors like its dividend policy and leverage, and to support long-term growth.
EDC is the country’s largest renewable energy producer, delivering 1,472 megawatts (MW) from hydro, solar, and wind power apart from geothermal.
The company’s 150-MW Burgos wind farm is the biggest in the country. Its nearly 1,200-MW geothermal capacity accounts for 61% of the country’s total installed geothermal capacity.
Parent firm First Gen has a portfolio of 3,490 MW, which accounts for 21% of the country’s gross generation capacity.
PREHC is a consortium of investors comprised of funds managed by Macquarie Infrastructure and Real Assets, and Arran Investment Pte Ltd., an affiliate of GIC Pte Ltd.

Converge ICT will invest $1.8B to accelerate broadband rollout

CONVERGE ICT Solutions, Inc. is investing $1.8 billion for its broadband network expansion in the next five years, partnering with US, South Korean and Philippine companies for its nationwide rollout.
The fiber internet provider on Wednesday signed a contract with South Korea’s KT Corp., US-based Tyco Electronics Subsea Communications LLC (TE SubCom) and local firm Fibernet Konstrukt Corp. for its fiber optic cable (FOC) construction project.
“The total investment in five years is $1.8 billion. Financing is by equity and by bank,” Converge ICT Chief Executive Officer Dennis Anthony H. Uy told reporters on Wednesday.
Mr. Uy said the company sought the expertise of these three companies to build and deploy infrastructure for its network.
“Because they are number 1 technology in the world,… so we bring them here in the Philippines to assist us in the rollout and (to) construct faster… In terms of the best practices, in terms of best experience, you need that from other countries,” he said.
Miles Tonn Chua, chief operating officer of Converge ICT unit MetroWorks ICT Construction, Inc., was quoted as saying in a statement that the network rollout has the potential to reach more than 13 million households, especially in Visayas and Mindanao.
Mr. Chua noted the entire network backbone is targeted to be completed by 2021, but may be operational in phases to allow Converge ICT to provide “pure end-to-end fiber” internet connectivity throughout the country.
Mr. Uy said the company is targeting to reach seven-million subscribers in five years.
Meanwhile, Converge ICT is not interested in joining the government’s bid for the ”third telco player” as it is focused on its fixed broadband business.
“We, Converge, (will) build the whole nationwide network to whoever wants to play in the mobile space. We allow them to use our backbone being built…. And we kickoff immediately to roll out to public faster,” Mr. Uy said. — D.A. Valdez

SMFB plans to conduct follow-on offering

By Arra B. Francia, Reporter
SAN MIGUEL Food and Beverage, Inc. (SMFB) is planning a follow-on offering in a bid to comply with the minimum public ownership rule, after the consolidation of parent San Miguel Corp.’s (SMC) food and beverage units brought down its public float to around four percent.
In a disclosure to the stock exchange on Wednesday, SMFB said its board of directors has approved the offering of 1.2 billion shares owned by SMC, equivalent to around 20% of the company’s outstanding common shares.
Based on SMFB’s closing share price on Wednesday, the offering will allow the company to raise as much as P87.4 billion.
However, it noted the issue price will depend on the terms determined by the management and as agreed upon with SMC.
The listed firm’s board has likewise approved the submission of a registration statement and prospectus for the offer to the Securities and Exchange Commission.
SMC President Ramon S. Ang earlier said the planned share sale would happen in February this year, with the initial size pegged at around $3 billion from the sale of 30% of SMFB’s shareholdings. The company however delayed the issuance due to volatility in the market, pushing it back instead to the fourth quarter.
EARNINGS UP
In a separate statement, SMFB said its earnings jumped by a fifth to P15.4 billion in the first six months of 2018, boosted by the double-digit growth across its portfolio. Consolidated revenues went up 15% to P137.4 billion.
The comparative figures were derived from the consolidated financials of San Miguel Brewery, Inc. (SMB), Ginebra San Miguel, Inc., and San Miguel Pure Foods Company, Inc., following the completion of the businesses’ consolidation last June 29.
The food group generated P62.9 billion in consolidated revenues, 12% higher in the same period a year ago due to the performance of the feeds, poultry and meats, and branded value-added units. Operating income accordingly went up by six percent to P4.7 billion.
SMB benefited from the higher consumption of beer products nationwide, expanding its consolidated revenues by 18% to P62.5 billion for the first semester. The unit delivered P17.3 billion in operating income, 23% higher year-on-year.
Meanwhile, GSMI’s operating income surged by 57% to P862 million during the period, thanks to core brands Ginebra San Miguel and Vino Kulafu. Revenues advanced by 19% to P12 billion.

Bloomberry’s 2nd quarter earnings slump on losses from Jeju hotel

EARNINGS of Bloomberry Resorts Corp. slumped by 17% in the second quarter of 2018, as the company incurred losses from its operations in South Korea coupled with foreign exchange losses.
In a regulatory filing, the listed casino operator said net income attributable to the parent slipped to P1.64 billion in the April to June period, lower than the P1.97 billion it generated in the same period a year ago. This despite a 7.7% rise in revenues to P10.6 billion.
Bloomberry attributed the lower bottomline to the P513 million net loss incurred by Jeju Sun Hotel & Casino, as well as P387 million in foreign exchange losses. Profit from the Solaire Resort & Casino in Entertainment City was also flat at P2.129 billion.
The Razon-led company said expenses went up by 14% during the quarter, counting gaming taxes, employee related expenses, outside services and charges, and additional interest expense from its new syndicated loan which was used to pay off previous debt facilities and to acquire Solaire’s expansion area in Entertainment City from the Philippine Amusement and Gaming Corp.
Gross gaming revenue (GGR) from the Solaire’s VIP segment dropped by a fourth to P4.67 billion in the quarter, as VIP hold rate likewise went down by 2.49% versus 3.61% in the previous quarter.
Mass table drops accelerated by 21% to P10.98 billion, while electronic gaming machine (EGM) coin-in jumped 19% to P53.2 billion during the period. The mass gaming segment helped offset the slowdown in the VIP unit, allowing Solaire to post a one percent year-on-year increase in consolidated GGR to P12.387 billion.
Meanwhile, non-gaming revenues picked up 15% to P908.6 million due to higher hotel occupancy rates, more shows at the Theatre at Solaire, and additional retail outlets at The Shoppes.
On a six-month basis, Bloomberry’s attributable profit gained by a third to P5.33 billion, against the P4.11 billion it exhibited in the first half of 2017. This came on the back of a 20% uptick in revenues to P22 billion.
Consolidated GGR climbed by 14% to P26.13 billion during the first semester, while non-gaming revenues also rose by 9.4% to P1.72 billion.
Bloomberry noted in a statement that the first-half result is the highest six-month net profit ever recorded by the company.
“We continue to make progress towards establishing a solid enterprise. Our fundamentals remain strong, and we look forward to a busy second half and end 2018 with robust full year results,” Bloomberry Chairman and Chief Executive Officer Enrique K. Razon, Jr. was quoted as saying in a statement.
Shares in Bloomberry dropped 0.79% or eight centavos to close at P10.10 each at the stock exchange on Wednesday. — Arra B. Francia

DoubleDragon Properties completes first industrial warehouse in Tarlac

DOUBLEDRAGON Properties Corp. has completed its first industrial warehouse in Tarlac, the first of the eight it plans to construct until 2020.
In a statement issued Wednesday, the listed property developer said CentralHub Tarlac will be the template to be used in building the seven other industrial complexes it has in the pipeline in the next two years.
“The prototype is designed to provide maximum flexibility for its users such as commissaries, cold storages, light manufacturing and logistics distribution centers,” DoubleDragon Chairman and CEO Edgar J. Sia II was quoted in a statement as saying.
DoubleDragon is banking on the projected rise in demand for multi-use warehouses in the country driven by consumer-related companies.
The company will be developing another CentralHub site in North Luzon after Tarlac. It will also build two each in Visayas and Mindanao.
DoubleDragon has only identified Tarlac and Iloilo for the first two sites, which once fully developed will give it 54,000 square meters (sq.m.) of leasable industrial space.
DoubleDragon Chief Investment Officer Hannah Yulo said the company’s aim is to focus on the physical structures that will support the needs of logistics and e-commerce players in the country.
“The current supply of provincial warehouses are not e-commerce suited and the industry is very fragmented with none of the major players owning a portfolio of industrial warehouse complexes in the provincial areas of Luzon, Visayas and Mindanao. As such, we see great opportunity to be able to dominate the industrial leasing industry in the near-term,” Ms. Yulo said in a statement.
The expansion of industrial leasing spaces is part of DoubleDragon’s plan to have 1.2 million sq.m. under its leasable portfolio by 2020. This will include 700,000 sq.m. from 100 CityMalls, 300,000 sq.m. from Metro Manila office projects, and 100,000 sq.m. from 5,000 hotel rooms under the Hotel 101 and JinJiang Inn Philippines brands.
Shares in DoubleDragon gained 20 centavos or 0.74% to close at P27.20 each at the stock exchange on Wednesday. — Arra B. Francia

Megaworld earnings rise 14% in 2nd quarter

MEGAWORLD Corp. grew its attributable profit by 14% in the second quarter, driven by its residential, office, and mall properties alongside the acceleration of its hotel business.
In a regulatory filing, the property firm of tycoon Andrew L. Tan reported a net income attributable to equity holders of the parent to P4.1 billion in the April to June period, higher than the P3.6 billion it generated in the same period a year ago.
Revenues went up by 11% to P13.7 billion during the second quarter, against the P12.3 billion recorded in the same period a year ago.
This pushed Megaworld’s attributable profit 13% higher to P7.25 billion in the first semester, after revenues climbed 10% to P26.8 billion.
“Megaworld’s consistent growth across all business segments is a clear indicator of where the company is going, and we are continuously focusing on putting better value to our customers through our programs on innovation and design, digital technology, smart mobility and connectivity as well as environmental sustainability,” Megaworld Senior Vice President and Treasurer Francisco C. Canuto said in a statement.
Real estate sales rose 10% to P7.46 billion during the April to June period, bringing the six-month tally to P14.65 billion.
Megaworld said it booked P73 billion in reservation sales during the January to May period alone. It launched six residential projects for the first half, namely Park McKinley West in Taguig, Chelsea Parkplace in Pampanga, Bayshore Residential Resorts Phase 2 and Gentry Manor in the Bay Area, Tulip Gardens in Laguna, and The Fifth in Ortigas.
Rental income during the second quarter jumped 7.5% to P14.65 billion, pushing the first semester tally 17% higher to P6.79 billion. Megaworld has office, malls, and commercial space leasing businesses.
The property giant also benefited from the expansion of its hotel portfolio, which allowed it to book P347.16 million during the second quarter and P715 million for the first half. It opened the Savoy Hotel Manila in Newport City which houses 684 room, bringing its total inventory to 2,428.
Megaworld plans to open two more hotels, namely Twin Lakes Hotel in Tagaytay and Lucky Chinatown Hotel in Binondo to meet its year-end target of 2,648 rooms.
“We are ready to supply more rooms to support the government’s goal of 10- million tourist arrivals by 2020. We are in key tourism areas like Cebu, Boracay and Tagaytay,” Mr. Canuto said.
The company saw particular growth in its condotel properties, where buyers can purchase units while the management acts as operator. The owner then gets a share from the hotel revenues in addition to time-sharing privileges in the use of hotel rooms and facilities.
It further noted that Belmont Hotel Manila’s return on investment percentage stood at 7.4% in 2017, higher than the company’s six percent target.
“There is so much potential in this business, and this has also contributed to our bottom line. As a pioneer of this condotel concept in the Philippine real estate industry, we hope to bring in more innovations to this unique offering,” Mr. Canuto said.
Shares in Megaworld jumped 3.44% or 16 centavos to close at P4.81 each at the stock exchange on Wednesday. — Arra B. Francia

Samsung to invest $22 billion in new tech to drive growth

SEOUL — South Korea’s Samsung Group on Wednesday said it would invest $22 billion over the next three years in cutting-edge technology including artificial intelligence, self-driving cars and biopharmaceuticals, as it searches for ways to drive future growth.
The investment will be primarily led by Samsung Electronics, the world’s biggest maker of memory chips, which has faced a string of setbacks in recent years, including a fall in smartphone sales and a corruption scandal that saw its vice-chairman Lee Jae-yong jailed last year.
Although demand for its memory chips remains robust, the market for its smartphones appears to have hit a wall, prompting the company to search for fresh growth opportunities.
“Samsung expects innovations powered by AI technology will drive the industry’s transformation, while the next-generation 5G telecommunications technology will create new opportunities in autonomous driving, the Internet of Things (IoT) and robotics”, the company said in a statement.
Overall, the group plans to invest a total of 180 trillion won ($161 billion) over the next three years across its businesses, with more than 70% of the funds to be spent in South Korea.
It will expand investments in manufacturing hubs, seeking to increase production of semiconductors and display screens as well as dominate new markets by developing technology to power self-driving cars.
The company said it expected to add 40,000 new jobs over the next three years, in news that will likely bring relief to South Korea’s government which is currently struggling with high youth unemployment.
The announcement came two days after South Korean Finance Minister Kim Dong-yeon met the group’s de-facto head Lee, calling for Samsung to create new jobs and boost the economy.
The scion of the founding family, Lee was jailed last year for his part in the graft scandal that brought down former president Park Geun-hye.
He has since been released after some of his convictions were quashed on appeal, and is now awaiting a Supreme Court decision.
Critics say Kim’s meeting with Lee may send a wrong signal to the court that the government backs leniency for the beleaguered businessman.
Samsung’s second quarter profit dipped slightly to 11.04 trillion won, down from 11.05 trillion won a year earlier.
Total sales for April-June fell 4.1% year-on-year to 58.48 trillion won, with revenues for the company’s mobile division plunging 22% in the same period. — AFP

Eat steak and make a difference

IF YOU are what you eat, then imagine what good it would do if you ate a meal that came with a soul and a conscience.
Discovery Suites Manila is offering an all-you-can-eat steak buffet on Aug. 18 for lunch and dinner called “1800-Prime,” whose proceeds will benefit an Aeta community in Tarlac — they will go towards building a water tank for the community.
The buffet costs P1,800 nett per person, and offers unlimited prime rib, unlimited sides, a dessert, and a glass of wine.
The Discovery Suites’ 22 Prime restaurant consistently earns a place in Philippine Tatler’s Best Restaurants list, and was listed in the Miele Guide back in 2011.
The Discovery Suites team travelled to Tarlac in May to deliver home filtration systems to the Aeta community courtesy of nonprofit organization Waves for Water. About 60 households were beneficiaries of this project. Discovery Suites General Manager Leeds Trompeta said, “We don’t want them to think that it’s a one-time deal.”
The group has been a partner of Waves for Water since 2016. As for its other projects, it has held toy drives and art auctions for the benefit of children’s charities.
Hotels offer the best in a country, shielding visitors and guests from any unpleasantness which can be hard to deny in a developing country like the Philippines. But Mr. Trompeta said, “Making a difference — that’s one of our core values. Making a difference towards other people, other than our guests.”
For reservations, call P791-6822, or visit discoverysuites.com/1-800-prime/. — Joseph L. Garcia

PT&T gets go-signal to exit corporate rehabilitation

THE Philippine Telegraph and Telephone Corp. (PT&T) said a Makati Regional Trial Court (RTC) granted its request to exit from court-assisted corporate rehabilitation, giving a boost to its plan to participate in the bidding for the third telecommunications player.
In a disclosure to the stock exchange, PT&T said the Rehabilitation Court, or Makati RTC Branch 66, has allowed its exit from rehabilitation “subject to compliance with certain requirements in line with the approved rehabilitation plan.”
The company said it is willing to follow its rehabilitation plan, which includes conducting a stockholders’ meeting to increase its authorized capital stock and to pay its debts via debt-to-equity conversion.
PT&T has a case in the Supreme Court concerning its P8.8-billion debt, and is supposed to undergo a 14-year rehabilitation plan.
“The exit from rehab is well within the plan of our new shareholders and another proof point that PT&T is serious in it’s intention to be a major player in the Philippines telecommunications industry,” PT&T president and chief executive officer James G. Velasquez said in a statement last week.
The telco, which was once PLDT, Inc.’s biggest rival in the industry, has expressed its interest to participate in the government’s search for the so-called “third telco player.”
In March, PT&T signed an agreement with state-owned National Transmission Corp. (TransCo) to allow for the use of the government’s national fiber optic backbone facility. — Denise A. Valdez

NASA’s new spaceship dares to ‘touch the Sun’

TAMPA, UNITED STATES — NASA is poised to launch a $1.5 billion spacecraft on a brutally hot journey toward the Sun, offering scientists the closest-ever view of our strange and mysterious star.
After the Parker Solar Probe blasts off from Cape Canaveral, Florida on Aug. 11, it will become the first spacecraft ever to fly through the Sun’s scorching atmosphere, known as the corona.
Understanding how the corona works will help scientists anticipate dangerous space weather storms, which can disrupt the power grid on Earth.
The unmanned probe is named after Eugene Parker, the 91-year-old pioneering solar astrophysicist, and the US space agency has coined it as the first mission to “touch the Sun.”
It will actually skim by at a distance of 3.83 million miles (6.16 million kilometers) above the Sun’s surface.
The Sun-facing side of the probe will endure temperatures of about 2,500 degrees Fahrenheit (1,370 Celsius).
The spacecraft is protected by a heat shield that will keep it closer to room temperature, about 85 degrees Fahrenheit.
A 45-minute launch window opens on Saturday at 3:48 am (0748 GMT).
Awaiting liftoff, the car-sized probe is already packed on to the Delta IV-Heavy rocket at Cape Canaveral Air Force Station in Florida. — AFP

‘Chef of the century’ Joel Robuchon, 73

PARIS — The multi-starred French chef Joel Robuchon, who died on Monday aged 73, will be honored with a public ceremony next week near his hometown in central France, a spokeswoman for his family told AFP on Tuesday.
Accolades have poured in for Robuchon, a classically trained perfectionist whose revolutionary idea of stripping fine dining of its more elaborate trappings became a template for up-and-coming chefs around the world.
At one point he held a record 32 Michelin stars at the same time for his galaxy of Atelier (“workshop”) restaurants, with people lining up for seats at establishments from Las Vegas to Tokyo.
While his funeral will be private, the public will be able to pay their respects at a ceremony in the Vienne region, where he was born in the city of Poitiers in 1945.
“His wife, his children Eric and Sophie, his grandchildren, along with the rest of his family ask that their privacy be respected,” the statement said.
Robuchon, who was hailed as one of four “chefs of the century” by the Gault & Millau industry bible in 1990, founded a string of restaurants that revolutionised fine dining across three continents, at one point ratcheting up a record 32 Michelin stars.
He still had 24 stars at the time of his death, with foodies lining up from Tokyo to Paris and Macau for seats in his L’Atelier restaurants, where they can watch chefs in action, perched on high stools at a U-shaped bar.
“His name and his style embodied French cuisine around the world, symbolising an art of living and the insistence on work well done, and expressing the richness of our traditions,” President Emmanuel Macron said in a statement.
“Joel Robuchon has put his mark on French cuisine, by always taking his own course and his mix of freedom and rigour,” fellow globe-trotting chef Alain Ducasse told AFP.
Robuchon died of pancreatic cancer in Geneva, where he was planning to open a restaurant, his friend, food critic Gilles Pudlowski confirmed to AFP.
Macron lauded his role in the emergence of nouvelle cuisine, which did away with heavy sauces in favor of ultra-fresh vegetables and intricately crafted dishes.
Tributes poured in from other top chefs, already mourning the death earlier this year of French culinary “pope” Paul Bocuse, and more recently globe-trotting American celebrity chef and author Anthony Bourdain.
British chef Gordon Ramsay, who trained under Robuchon, tweeted that he “kept all of us on our toes! Even when we were sleeping!
Merci Chef, God bless, you’ll be missed,” he wrote.
Gault & Millau’s director Come de Cherisey eulogised Robuchon, whose food empire employed 1,200 people, as “a great business leader.”
“He was among the first, just after Paul Bocuse, who was able to have an international footprint,” he said.
THE PERFECT MASH
Born in 1945 in the central city of Poitiers to a bricklayer father and stay-at-home mother, Robuchon’s first vocation was the priesthood.
But while cooking alongside nuns for other seminarians he discovered a passion for food and at 15 entered the restaurant trade.
A perfectionist from the start, he quickly earned a name for himself and by the age of 30 was running a 90-strong kitchen at the Concorde Lafayette hotel in Paris.
His signature creations included truffle tart, cauliflower cream with caviar and langoustine ravioli — but he also elevated the humble potato, with his smooth, buttery mash earning rave reviews.
He was among the first top chefs to work closely with big food companies, starting as an adviser to the French group Fleury Michon in 1987.
His picture soon began gracing a line of signature ready-to-eat dishes, while giving tips on “Eating Better,” the Fleury-Michon slogan.
But by the age of 51 he had worked himself to the bone. Declaring he did not want to die of the stress of turning out flawless fare day after day, the father of two announced his retirement in 1996. “I will watch my children and my grandchildren grow up, I will love my wife, my friends, and the good things in life,” he told Le Figaro.
But he soon became a fixture on French television, hosting a series of popular cooking shows that aimed to demystify haute cuisine for the masses.
The most popular was Bon Appetit Bien Sur, a daily 20-minute program which ran from 2000 to 2009 and often included appearances by other top chefs.
His campaign to encourage better everyday eating also included writing nearly 20 books, including Cooking Through the Seasons and one dedicated to potatoes.
By 2003 he was back in the kitchen with the Atelier concept, which he debuted in Paris and Tokyo and later took to London, Las Vegas and New York, among other cities.
“Times have changed, consumers are looking for cuisine that is less sophisticated, a place with ambiance where you eat well,” he said. — AFP

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