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Ayala unit completes acquisition of German auto parts supplier

A UNIT of Ayala Corp. (AC) has completed the acquisition of a 94.9% stake in a German automotive parts supplier for €26.8 million.

In a disclosure to the stock exchange on Thursday, the listed conglomerate said its wholly owned subsidiary AC Industrial Technology Holdings, Inc. (AC Industrials) bought a total of 237,250 shares from MT Misslbeck Technologies GmbH (MT). The transaction was coursed through AC Industrials (Singapore) Pte. Ltd.

Ayala said the payment will be made in cash, and also involves the assumption of debt and other liabilities.

MT is an automotive supplier of models, tools, and plastic parts for automotive original equipment manufacturers and has production plants in Ingolstadt, Germany. The company also designs and creates models of entire car parts or parts of a car, produces injection molds for metal and plastic car parts, as well as automotive plastic parts which are produced for prototyping and serial production.

“This investment forms part of AC Industrials’ strategy to increase its competence and capabilities in the automotive value chain and will complement AC Industrials’ existing businesses in manufacturing services and vehicle distribution and dealerships,” the country’s oldest conglomerate said.

Last month, AC Industrials officially opened the first European motorcycle manufacturing factory in the Philippines through a joint venture with KTM Asia. The P500-milllion factory can produce 60,000 KTM motorcycle units annually at full shift.

This forms part of the Ayala group’s bid to tap manufacturing as one of the company’s main drivers of growth.

AC Industrials posted a 22% growth in net income to P332 million during the first quarter of 2017, following a 37% year-on-year increase in revenues to P7.6 billion in the same period. The firm attributed the increase to the performance of both its electronics manufacturing and automotive retail business.

Meanwhile, AC’s attributable net income increased by 19% to P6.93 billion in the same period.

Shares in AC gained P12 or 1.4% to close at P872 each on Thursday. — Arra B. Francia

China Crisis and Peter Coyle live at Robinsons Malls

GROOVE TO the music of the 1980s as the English pop/rock band, China Crisis and Lotus Eaters vocalist, Peter Coyle come to Manila on July 8. Have a chance to “Meet and Greet” these artists at 2 p.m. at Level 2, Main hallway of Robinsons Galleria. Over at Robinsons Magnolia, shoppers and mallers will have a chance to catch their live performance at 6 p.m. in the Mall’s Atrium. China Crisis is a popular English band formed in 1979 led by vocalist/keyboardist Gary Daly and guitarist Eddie Lundon. The band was part of a wave of new Liverpool acts in the late 1970s and early 1980s. Their song “Wishful Thinking” was their biggest and most well-known hit, and was included on numerous compilation albums. Peter Coyle is the vocalist for the Lotus Eaters who rocketed to fame with their first hit single “The First Picture of You” which sold more than 100,000 copies in England.

Phoenix buys 2 firms for P6.26 billion

PHOENIX Petroleum Philippines, Inc. on Thursday said it secured board approval for the plan to buy liquefied petroleum gas (LPG) seller Petronas Energy Philippines, Inc. (PEPI) and Duta, Inc. for $126.1 million (P6.26 billion).

In a disclosure to the stock exchange, Phoenix Petroleum said its board of directors on Wednesday approved the acquisition of 100% shares owned by PDB (Netherlands) B.V. in PEPI and Duta.

PDB or Petronas Dagangan Berhad is the principal marketing unit of Malaysia’s national oil company Petroliam Nasional Berhad.

Phoenix Petroleum said it will make the $126.1 million payment for both companies in cash.

Of the total, $24 million will be paid within three business days after the execution of the share purchase agreements. The remaining $96 million will be paid in full after completion of the deal and approval by the Philippine Competition Commission (PCC).

Phoenix Petroleum will also pay $6.1 million for the acquisition of DUTA in cash.

Merger and acquisition deals in the Philippines valued at least P1 billion are subject to PCC review.

“The Company views the LPG business as a strong strategic fit as it broadens its product portfolio and petroleum presence across the country, with cross selling opportunities in fuel and LPG to consumers and corporates,” Phoenix Petroleum said.

PEPI is primarily engaged in the business of selling LPG in cylinders for household and commercial use, as well as LPG in bulk for industrial use and autogas, an alternative fuel for vehicles.

Duta, on the other hand, manages and holds the various land parcels used by PEPI’s businesses.

Dennis A. Uy, Phoenix Petroleum president and CEO, earlier said the company was planning to spend between P6 billion and P8 billion in the next three year on top of the P2 billion it had set aside for 2017.

In 2016, Phoenix Petroleum posted a net income of P1.09 billion, higher by 21% compared with the earlier year’s bottom line, driven by fuel sales that expanded by double digits after “solid” growth in volume.

Morrissey says ‘terrorized’ by Rome police officer

ALTERNATIVE rock icon Morrissey — seen here during his March 29 concert at Monterrey Nuevo Leon — said Wednesday that he was “terrorized” by a police officer in Rome who held him at gunpoint for half an hour on a busy street. The outspoken British singer, a longtime lover of Rome who has returned to the Italian capital to record an album, said the officer unlocked his gun and “screamed into my face” as a crowd of more than 100 people watched. Morrissey’s nephew Sam Esty Rayner, a photographer who often takes footage of the singer, posted a picture of the officer and wrote his motorbike’s license plate number on Facebook. “The Police Officer pictured below terrorized Morrissey for 35 minutes demanding ‘papers.’ Morrissey had no papers,” Rayner wrote. Morrissey in a statement accused the officer of a “deliberate act of terror” and said he had not broken any law. “I believe he recognized me and wanted to frighten me. I did not back down even though I believed he was about to shoot me,” Morrissey said. “I urge people to beware of this dangerously aggressive Officer. He might kill you,” he said. Morrissey has frequently criticized the police both in his music and off-stage. In 2015, he said he was “sexually assaulted” by an officer at San Francisco International Airport who touched him during a security check. The singer, who first found fame as the frontman of The Smiths in the 1980s, has won a fanatical fan base with his elegant and sardonic lyricism that often takes up life’s disappointments. Morrissey is a staunch opponent of the British monarchy and campaigner for animal rights, with the singer refusing to play in venues while meat is served. — AFP

MRC Allied teams up with MEEC for renewable energy projects

MRC ALLIED, Inc. is partnering with Merge Energy and Environment Corporation (MEEC) to undertake renewable energy (RE) projects.

The property developer, which has diversified into the energy sector, told the Philippine Stock Exchange on Thursday that it signed a Memorandum of Understanding (MoU) with MEEC — a private corporation engaged in the business of exploration and development of renewable energy resources.

“The purpose of the MoU is to confirm that both parties have an interest in developing renewable energy projects in the properties identified by MEEC as target or locations,” MRC Allied said in its brief regulatory filing.

Under the MoU, the property firm will conduct due diligence within 60 days “to allow the company to make a decision to pursue a project with MEEC.”

MRC Allied and MEEC will also be bound by the terms of confidentiality while the MoU is in force and within one year thereafter.

The property developer earlier set an ambitious target of putting up at least 1,000 megawatts (MW) of renewable energy in the next five years, noting this is the “perfect time” to venture into the energy sector due to rising demand for electricity, increasing target of RE capacity and the opportunity to buy existing power plants.

This year, MRC Allied has an aggregate of 160 megawatts (MW) in solar capacity in the pipeline. The projects are in Clark Green City, Pampanga and in Naga City, Cebu, with a target installed capacity of 100 MW and 60 MW, respectively.

To achieve the target, the company is looking to put up at least 200 MW of capacity every year until 2020.

Shares in MRC closed at P0.380 apiece, down 1.30% from P0.385. — Imee Charlee C. Delavin

How PSEi member stocks performed — July 6, 2017

Here’s a quick glance at how PSEi stocks fared on Thursday, July 6, 2017.

Entertainment (07/07/17)

Mosquito documentary on Discovery

DISCOVERY will use its global reach to focus the world’s attention on the single greatest agent of death in modern human history: the mosquito. The global crisis is highlighted in the worldwide premiere of the upcoming Discovery Impact film Mosquito, on July 6, 9:50 p.m., on Discovery Channel and Discovery networks around the world. Recent news coverage around the globe has highlighted individual outbreaks of diseases such as Zika, malaria, West Nile virus, yellow fever, chikungunya, and dengue. But there is a bigger story to be told, one that connects the dots between these diseases and reveals how a single force is driving them all: the unceasing, accelerating expansion of the mosquito around the globe, driven by factors such as increasing global travel and trade and a warmer world that is more hospitable to mosquitoes. Narrated by actor Jeremy Renner, the film chronicles the increasing global threat this tiny animal poses and the potential lethal ramifications without a worldwide coordinated effort. The film features interviews with leading experts including former CDC director Dr. Thomas Frieden and Bill Gates, co-chair of the Bill & Melinda Gates Foundation who points out that the resources required to fight an outbreak relative to the level of death that could result from a fatal pandemic makes this a clear global health priority.

Sandy Daza’s cooking show

LEARN Filipino, Japanese and Spanish recipes from chef Sandy Daza through new episodes of Casa Daza on Lifestyle TV this month. Casa Daza showcases recipes that are inspired by Mr. Daza’s own family favorites. He shares easy-to-follow steps, from preparation to plating, while revealing interesting stories behind each recipe. On July 10, he will feature Binondo staples such as noodle recipe pancit sotanghon guisado, popular meat entrée pata asado, and the classic Binondo fried chicken. Japanese cuisine takes center stage on July 17 with easy-to-cook Japanese restaurant best-sellers like chicken kara-age, sukiyaki and tonkatsu. July 24 focuses on classic Filipino recipes such as kare-kare with bagoong alamang guisado, bistek Tagalog, and his chicken and pork adobo. It is Spanish tapas on July 31. Casa Daza airs Mondays at 9 p.m. on Lifestyle TV, available on SkyCable and Destiny Cable channel 52, and Sky Direct channel 31.

New viral video series on AXN

VIRAL VIDEOS are the focus of the new reality series Rude(ish) Tube, which airs weeknights starting this July on AXN. The half-hour show features a compilation of the funniest, wildest, and most unbelievable clips that have been uploaded online. From epic fails to utter pranks, from extreme rides to badass stunts, not to mention lots of animals and cute kids, there’s everything weird and wonderful for everybody. Rude(ish) Tube premieres on July 11 and airs from Monday to Thursday at 8:50 p.m. with two episodes back to back on AXN. AXN is available on SkyCable Channel 49, Destiny Cable Channel 61, Cignal Channel 121, Dream Satellite TV Channel 20, G Sat Channel 51, and Cablelink Channel 38. AXN HD is available on SkyCable Channel 247.

New reality shows, seasons on Lifetime

LIFETIME airs new reality shows and seasons this month. Season 9 of MasterChef Australia is serving up a whole new batch of fresh talent, Mondays to Fridays at 8 and 11 p.m. In Lifetime’s new docu-series Bringing Up Ballers, six mothers are stopping at nothing to ensure their sons, the city’s most elite youth basketball players, get into the NBA. The show airs Thursdays at 10 p.m. Frontline Fashion features 10 emerging designers from Europe and Asia who set out to revamp the fashion industry into an eco-friendly one in the world’s biggest sustainable fashion design competition, The EcoChic Design Award. They tackle one challenge at a time on the road to Hong Kong Fashion Week runway starting July 13, Thursdays at 9 p.m. Divorcees get another shot at finding their soulmates in Married at First Sight: Second Chances. In this follow-up to Married at First Sight, season three viewer favorites David Norton and Vanessa Nelson are taking the plunge again as they seek out lifelong love. It airs Mondays at 9:30 p.m. Season 3 of My Haunted House offers a new set of blood-curling stories on Fridays, 9 p.m., starting July 21. The mysteries continue with new episodes of Zoo Season 3 where in the year 2027, the human population faces extinction following a global sterility crisis. The show premieres July 7, and airs Fridays at 10 p.m. Lifetime is available on SkyCable Ch 65 and Lifetime HD Ch 199; Cable Link Ch. 223; Dream Satellite Ch 28; Destiny Ch 44.

Celebrity Car Wars Season 2 in the works

FILIPINO MODEL, actress, and TV anchor Phoemela Baranda is joining other Asian stars in a race to win the 2nd season of Celebrity Car Wars, which is shooting on-location in various parts of the Philippines. A+E Networks Asia has commenced production for the second season of the automotive series for HISTORY Asia. Celebrity Car Wars Season 2 assembles six new celebrities to embark on an eight-week road trip of automotive discovery. The regional celebrities getting behind the wheel include Malaysian actor and comedian Harith Iskander; Hong Kong-based model and TV personality Dominic Lau; Thai actor, model and singer Ratchanont Guy Suprakob; and Thai actress Aerin Yuktadatta. Jarrod Schulz, from the HISTORY series Storage Wars, also joins as the first celebrity from the US to feature in Celebrity Car Wars. Professional motor racing experts, Malaysia’s Alex Yoong, as well as the Philippine’s Gaby dela Merced and Michele Bumgarner return as mentors. Host Bobby Tonelli is back to put celebrity egos to the test in a newly introduced quiz segment. The eight-part one-hour series will air in the last quarter of 2017 on HISTORY Asia.

New shows, seasons at FYI

CONTEMPORARY lifestyle network FYI brings new series and brand-new episodes this month. Starting July 27, catch the second season of Food Porn at 9 p.m., followed at 9:30 p.m. with the new series Scraps which follows chef Joel Gamoran across America as he takes on the problem of excessive food waste by using it to create sumptuous feasts. Go on an adventure around the world every Thursday starting at 8 p.m. with Destination Flavour: Singapore, followed at 8:30 p.m. by Top Travel (photo)which shows how to journey in style with globe-trotters Jeannie D. and Janez Vermeiren exploring only the best hotels, restaurants, landmarks, art galleries and more. Season 4 of Tiny House Nation kicks off on July 10, with shows every Monday at 8:55 p.m. FYI is available on SkyCable Ch 79; Cable Link Ch. 44; Dream Satellite Ch 21.

Paralympic Movement Transcending barriers through sports

By Michael Angelo S. Murillo, Reporter

Rooted in the belief of the power of sports to change lives, particularly that of the physically disabled, the paralympic movement has come a long way since being brought to the fore in the middle of the last century.

A sister’s right to shoes

By Sujata S. Mukhi

Theater Reviews
Sister Act

Ignition

By Noel Vera

Television
Twin Peaks

Now airports have gyms, too

AMERICA’S AIRPORTS are where long lines, crowds, and the Transportation Security Administration (TSA) combine to make life miserable. But once the metal detectors, explosives-sniffers, and pat-downs are behind you, suddenly all is transformed into boutiques, bars, and restaurants.

Nescafé Gold goes regional

Ads & Ends
Nanette Franco-Diyco

I CAUGHT the newly launched 30-second commercial of Nescafé Gold during the weekend. Everything about it is beautifully high-end — from the living room set to the attire of the endorsers, and, needless to say, the endorsers themselves.

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