MRC Allied, Inc. may choose to participate only in the power plant component of the liquefied natural gas (LNG) facility it is studying to build, its top official said.
“We are given an option to just be part of the [power] generation,” Gladys N. Nalda, MRC Allied president and chief executive officer, told reporters after the company’s annual stockholders meeting on Monday.
However, the company is open to join the “entire chain,” she said, enumerating this to include an import terminal, regasifying facility, power generation and a distribution pipeline.
“The capacity is big and the partner is big so we are looking into the feasiblity — checking the place, looking at the costing, the suppliers, so medyo it’s something that needs to be studied for a long period of time,” she said.
She declined to disclose numbers for the power plant capacity because of a non-disclosure agreement that the company signed with its Chinese partner. She also declined to mention the project’s location.
“Hypothetically if I’m going to say yes, probably somewhere in Luzon because [of] logistics — kasi currently meron kami Luzon (because we have presence in Luzon),” she said. — Victor Saulon

Philippine National Oil Co.-Exploration Corp. (PNOC-EC) is studying the viability of taking over the Malampaya gas-to-power project when its present contract expires in 2024, an Energy official said on Monday.
Leonido J. Pulido III, assistant secretary at the Department of Energy (DoE), told reporters, that a study that PNOC-EC targets to complete this year seeks to answer two main technical issues relating to the project.
“The first part is, is it commercially viable? Is it more beneficial for the national government for PNOC-EC to continue the concession agreement?” he said.
Shell Philippines Exploration B.V. (SPEx). and consortium partners Chevron Malampaya LLC and PNOC-EC operate the Malampaya natural gas platform, which fuels several power plants in Batangas.
The gas-to-power project also supplies Pilipinas Shell Petroleum Corp.’s refinery and compressed natural gas refilling station. It delivers about a fifth of the country’s electricity requirements.
“The second part is, will it be commercially viable, as an additional source — it amounts to 1,000 megawatts (MW) worth of natural gas to the east of SC 38 — whether PNOC-EC will actually drill and extract that gas,” Mr. Pulido said.
However, Senator Sherwin T. Gatchalian, chairman of the Senate’s energy committee, expressed reservations about the government taking over the project, citing previous experiences in managing the metrorail and other public services. — Victor Saulon

BDO Unibank, Inc. has partnered with a Japanese regional bank to help Japanese businesses enter the Philippine market.
In a regulatory filing Monday, the Sy-led lender said Bank of Fukuoka, Ltd. (BoF), Japan’s third-largest regional bank, has chosen BDO as its partner-bank in the Philippines
The partnership, which was sealed through a memorandum of agreement, is aimed to service BoF’s clients who wish to expand it business or put up shops in the country.
BDO noted that the deal is the first time a Japanese regional bank (JRB) has partnered with a Philippine lender.
Founded in 1942, BoF has 170 branches and representative offices in Dalian, Shanghai, Hong Kong, Taipei, Bangkok, Singapore, Ho Chi Minh City and New York.
“Since 2013, BDO has sealed agreements with several JRBs strategically located in various prefectures of the world’s third-largest economy,” BDO said. — Karl Angelo N. Vidal

Senator Sherwin T. Gatchalian is looking to the importation of liquefied natural gas (LNG) to supplement the expected depletion of the Malampaya gas field, projected in 2024.
“Mauubos na ang Malapaya in 2024, so as early as now, pinag-uusapan natin na i-develop ang importation dahil malaking tipid ‘to sa ‘ting consumers,” Energy Committee Chair Senator Sherwin T. Gatchalian told reporters on Monday.
The senator recently concluded an inquiry on the Philippine downstream natural gas industry policy, which determined that importing natural gas is cheaper than using coal.
“For now, based on the DOE (Department of Energy), lumalabas na mas mura ang mag-import ng natural gas kaysa sa coal,” Senator Gatchalian said, adding that this would benefit consumers environmentally.
“Ang natural gas kasi masmalinis ‘to, almost 80% cleaner than coal, so mura na malinis pa. there’s now an incentive na i-develop ang natural gas sa bansa,” he said.
According to the DOE, Malampaya gas costs about P4.67 per kilowatt hour (kWh) and coal costs P5.49 per kWh, while LNG will cost P4.53 per kWh. — Charmaine A. Tadalan

A new study on the effects of the Dengvaxia vaccine provides basis to demand a full refund of the P3-billion anti-dengue program, a lawmaker said on Monday.
“Sanofi has rejected DOH’s (Department of Health) request for a full refund multiple times now, refusing to pay the Philippine government back for the vaccines already used. The Philippines through the DOH has more leverage than ever to seek the refund,” House Appropriation committee chair Karlo Alexei B. Nograles said in a statement.
The study of the New England Journal of Medicine further validated the World Health Organization’s (WHO) findings that the vaccine poses increased risk, if inoculated to children who have never contracted dengue.
“The published findings confirmed Sanofi’s belated admission of the pitfalls of Dengvaxia. It also upheld the World Health Organization recommendation last April that the vaccine should not be used without testing for prior dengue exposure,” Mr. Nograles said. — Charmaine A. Tadalan

THE GOVERNMENT’S tax think tank cited advantages and disadvantages of the various methodology proposed for the tax amnesty bill.
In its monthly Tax Research Journal, the National Tax Research Center (NTRC) said that the government should balance the tax-widening and enticing features of the tax amnesty bill.
When using the availers’ net worth as the basis for the proposed 8% amnesty rate, the NTRC said that although it would be equitable, it may be manipulated by the taxpayer and have it underdeclared to pay a lower fee.
The use of the incremental increase in net worth from previously filed statement of assets, liabilities and net worth (SALN) meanwhile is seen to be “inconvenient” for taxpayers as they would have to submit old records that may not anymore be available.
Meanwhile the use of total assets as a basis would shield the possible bloating of liabilities to decrease the net worth, but may not reflect the actual financial capacity of the taxpayer.  — Elijah Joseph C. Tubayan

Malacañang on Monday said there is no need for a third party facilitator in the peace process between the Government of the Republic of the Philippines (GRP) and the Communist Party of the Philippines- New People’s Army- National Democratic Front (CPP-NPA-NDF).
“Wala na po siguro kasi nandito naman tayo sa Pilipinas (Perhaps there is no need for a third party facilitator because the peace talks will be held here in the Philippines),” Presidential Spokesperson Harry L. Roque, Jr. said in a press briefing at the Palace on Monday.
The spokesman added there is already a panel in the Philippines who can facilitate the talks, but “any party who wants to help can help.”
He also reiterated that President Rodrigo R. Duterte “has not given up on the peace process with the communists, but it should be inclusive and should pass legal scrutiny.”
“President Duterte wants peace talks with communists to be held in the Philippines…The President said the talks should be held here this July. He is dead serious about it. He has asked the Department of Justice to set free individuals who will be attending the talks,” Mr. Roque also explained.
Presidential Peace Adviser Jesus G. Dureza announced last week, June 14, that the peace talks with the communist rebels, which was originally scheduled on June 28, have been put off because the government will have to consult first the stakeholders on the ground “to ensure that all those consensus points and agreements forged in the negotiations table have palpable support from them.”
Meanwhile, last Saturday, NDF Chief Political Consultant Jose Maria C. Sison posted on his Facebook page the “stand-down agreement” of June 9, 2018, signed in Utrecht, The Netherlands, by GRP and NDFP negotiating chairpersons, Labor Secretary Secretary Silvestre H. Bello III and Fidel V. Agcaoili.
The document states that both partes “agree to a stand-down of their respective resumption of the formal peace talks, in order to provide through goodwill and confidence-building measures, the positive atmosphere conducive to moving forward and completing the peace negotiations and the implemetation of agreements entered into or may be enteret into.”
In a press statement on June 13, Mr. Sison announced that the stand-down agreement between the two parties “shall start on June 21, one week before the resumption of formal talks in Oslo on June 28.”
Sought for comment, Mr. Roque said: “I cannot comment on any document not released by the Philippine government.”
The official said the Palace “finds it somehow irregular that the NDFP has taken upon itself to inform the public of what has been or not been agreed upon.”
“NDFP should not make premature announcements on supposed agreements ahead of resumption of peace talks,” he added.
The spokesman also mentioned that the President wanted to “review [first] certain matters in connection with the peace talks.” — Arjay L. Balinbin

THE DEPARTMENT of Finance (DoF) will integrate cybersecurity features in the country’s new trade facilitation platform.
“A digital trading platform that aims to reduce the processing time and number of transactions for import and export clearances will be reinforced with cybersecurity features to keep it safe from unauthorized access and other forms of cyberattacks,” the DoF said in a statement yesterday.
The DoF was referring to TradeNet, the country’s National Single Window system launched in December that is also linked to some Association of Southeast Asian Nations (ASEAN) counterparts.
“Our cybersecurity system will be implemented to provide monitoring and continuous vigilance services for TradeNet,” Finance Secretary Carlos G. Dominguez III was quoted as saying. — Elijah Joseph C. Tubayan

Wilcon Depot, Inc. is accelerating its five-year expansion plan by targeting nine store openings this year, allowing it to hit its goal of 65 stores a year ahead of schedule.
“We have many funds sitting in the bank, and all the sites are ready. The economy is really moving up quite good, so we’re capitalizing on that. And also its to stay ahead of competition,” Wilcon Founder and Chairman Emeritus William T. Belo said in a briefing after the company’s annual shareholders’ meeting in Ortigas Center yesterday.
The listed home improvement and construction supply retailer announced in 2017 its plan to open 29 new stores by 2021. Of the 29, 16 will be located in Luzon, five in Visayas, and eight in Mindanao.
Wilcon has already opened five stores last year and another two during the first half of 2018. Starting this June, the company will be opening a new store every month to reach nine by the end of the year. — Arra B. Francia

The logistics unit of Metro Pacific Investments Corp. (MPIC) will be rolling out P8 billion for the development of warehouses and purchase of equipment that will transform it into a leading player in the logistics space.
In a disclosure to the stock exchange on Monday, MPIC said its wholly-owned subsidiary Metropac Movers, Inc. (MMI) will be purchasing land properties to be developed into warehouses.
This includes several adjacent parcels of land covering 202,000-square meter (sq.m.) in General Trias, Cavite, previously owned by The Property Company of Friends (ProFriends). MMI has signed an agreement for the P1.2-billion property on Monday.
MMI will develop the property into a 141,000-sq.m. covered warehouse space. In addition to this, MMI plans to purchase another 300,000 sq.m of land in Bulacan. The company currently has 207,000 sq.m of leased warehouse space across the country.
These properties will further complement the 522 new trucks the company acquired in the fourth quarter of 2017.
“These resources…will be utilized by MMI to build the leading logistics firm in the Country, the first choice of existing and future clients for their logistics needs – “the ONE logistics company”. It will fulfill a much needed function in today’s fragmented logistics market where resources to efficiently track and deliver goods to all parts of the Philippine Archipelago are still lacking,” MPIC said.  — Arra B. Francia

The “Build, Build, Build” project of the Duterte Administration should be an opportunity to boost workers’ skills and competencies, the National Economic and Development Authority (NEDA) said.
In a statement on Monday, NEDA Secretary Ernesto M. Pernia said, “To fully maximize gains from Build Build Build, the Philippine labor market should be ready to meet the infrastructure program’s requirements. Bodies governing the education and labor sectors have a crucial role in this.”
The agencies that NEDA called out to prioritize training of laborers are Department of Labor and Employment (DoLE), Department of Education (DepEd), Commission on Higher Education (CHED), and the Technical Education and Skills Development Authority (TESDA).
NEDA reported that the Duterte Adminstration will produce 1.1 million jobs yearly, with most coming from the construction industry. For 2018, 820,000 jobs will be open due to the rise of infrastructure projects. Earlier this year, TESDA has announced that it will train 100,000 workers to be ready for the “Build, Build, Build” program. — Gillian Cortez