Sep 26, 2013

PHILIPPINES, China sign cooperation pact

PH, China sign cooperation pact

Despite an ongoing territorial dispute, the Philippines and China have signed an agreement to jointly create a transparent, liberal and facilitative investment regime and to deepen bilateral economic development between the two countries.
The memorandum of understanding was signed by Arnel Paciano D. Casanova, chair of the Philippine Investment Promotions Plan Steering Committee (PIPP-SC), and Xu Ning Ning, executive secretary general of the China-Asean Business Council (CABC), at the recent 10th China-Asean Expo in Nanning, China.
“The signing of the MOU is based on the principle of equality, mutual benefit and win-win cooperation for both countries,” said Casanova, who also heads the state-run Bases Conversion and Development Authority (BCDA).
Casanova noted that the memorandum reaffirmed the existing strong investment promotion cooperation between the Philippines and China. Both parties, he added, have agreed to position the Philippines in global supply chains by engaging CABC member associations in the areas of manufacturing, agro-industrial business and tourism infrastructure development.

Sep 15, 2013

Century Park- IUF held at Century Park Hotel September 16-17,2013

Dining in Century Park
Accommodation in Century Park
Century Park Hotel Manila
IUF held at Century Park Hotel September 16-17,2013


Situated in the heart of Manila's business, cultural, shopping and entertainment centers, is one of the most renowned and recognized hotel in the city. A mere seven (7) kilometers away from the Ninoy Aquino International Airport, Century Park Hotel, the premier hotel in Manila is also an ideal airport hotel for the busy     executives.

Close by to this Manila hotel are the well-known business district of Makati, the Philippines International Convention Center, Cultural Center of the Philippines, SMX (a world class venue for exhibitions and conventions), Bangko Sentral ng Pilipinas, World Trade Center, Rizal Memorial Sports Complex, Harrison Plaza Shopping Center, Mall of Asia and other public facilities.
A Warm Welcome from the Century Park Hotel
Experience a heartfelt welcome the moment you come in, the Filipino way. Discover our gracious service, incomparable attention to detail, taste and style that complement every need. Be fascinated in the unique culture of Filipino hospitality that will surely make your stay memorable --only here at the Century Park Hotel.

Source: http://www.centurypark.com/


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Sep 3, 2013

HONEYCOMB BUILDERS INC. - Real Estate and Property Developers

HONEYCOMB BUILDERS INC. Services Offered: Real Estate Developers Business Name: HONEYCOMB BUILDERS INC. Business Address: 52 Libertad St. Mandaluyong City Contact Number: 9300418/ 09186433151 Corporate Person: Maribelle Sy
Contact No.:9300418/09186433151
HONEYCOMB BUILDERS INC. - Real Estate and Property Developers

New bargain haven opens in Binondo

Lucky Chinatown Annex
Published: July 23, 2013
Binondo’s bargain-hunting scene just got better with the opening of the Lucky Chinatown Annex A & B.
The newest addition to Lucky Chinatown, the first shopping mall in Binondo, offers students a great selection of shops and stalls, with prices that fit their budget.
Spread over three levels at Lucky Chinatown’s Annex A are 300 stalls that offer a wide variety of items. For the fashionista, there’s trendy apparel and accessories, cosmetics and beauty products, shoes, bags and eyewear.
Students planning for a school event can check out stalls stuffed with items for their party needs, school supplies, souvenirs, and even Divisoria wholesalers that can help make an event a big success without spending big.
Those shopping for their family will also find it easy to find what they need. There are toys for kids, kitchenware, household items and even PX goods. Source: New bargain haven opens in Binondo

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Newport City: Buyers get a taste of travel and culture

Investors and aspiring homeowners will get a boost of travel, leisure and culture with a promotion from Newport City, the tourism township of Megaworld Corp.

Megaworld Newport Property Holdings Inc. recently signed an agreement with Travellers International Hotel Group Inc., owner and operator of Resorts World Manila, to give unit buyers of Megaworld’s three Newport City residential condominium projects complimentary show tickets to RWM’s Rodgers and Hammerstein musical Cinderella.
Depending on the unit reserved at 81 Newport Boulevard, 101 Newport Boulevard and 150 Newport Boulevard, homebuyers are guaranteed to be one of the first to catch Cinderella, since the developer booked tickets for the first four weeks of showing.Source: Newport City: Buyers get a taste of travel and culture

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Government "GSIS" readies first infra project

By Chino S. Leyco
Published: July 1, 2013
State-run Government Service Insurance System (GSIS) is eager to announce its first infrastructure project under the government’s Public-Private Partnership (PPP) program to be funded under the $625 million Philippine Investment Alliance for Infrastructure (PINAI) fund.
Robert G. Vergara, GSIS president and general manager said the pension fund wants its first infrastructure project to be up and running within this quarter after more than one-year of exploration.
“I’m hoping that we will have something up and running in the third-quarter, and I hope there would be some good news from that investment, but we’re still in negotiation for the project,” Vergara said, who declined to provide additional details.
He, however, hinted that the fund’s initial salve will be invested in a core infrastructure asset.
In June last year, the GSIS along with the Asian Development Bank (ADB), Dutch pension fund asset manager APG and the Macquarie Group sealed a $625 million PINAI fund.
“We are very close to potentially be announcing the first project that this fund will make,” Vergara said.
GSIS is the lead investor of the fund with initial commitment of $400 million, which Vergara envisioned to create more jobs for the country and put it on the path of sustained as well as higher levels of economic growth.
Vergara earlier said that GSIS, which has $15 billion to $17 billion under its management, expects PINAI fund to be fully deployed and invested within the three year horizon, which is positioned to support the development of critical infrastructure projects from the ground up. PINAI has a mandate to invest equity and equity-like instruments directly in infrastructure businesses and projects in the Philippines. It will invest in a mix of both brownfield and greenfield projects across the infrastructure sector, like transport, power, renewable energy, water and telecommunication.Source: GSIS readies first infra project

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More Japan manufacturing firms coming

By Bernie Cahiles-Magkilat
Published: June 26, 2013
Japanese Ambassador Toshinao Urabe said that more Japanese manufacturing companies are looking at the Philippines as an investment destination as he cited the move of the government to address Japanese firms’ concerns particularly on the refund of their certificate of tax credits.
In an interview with reporters after his speech before the Makati Business Club, cited the increasing number of Japanese firms that are locating in the country, including Canon, Murata, Bandai and Fuji Film Optical.
The latest investor is bicycle manufacturer Shimano, which is set to break ground next month for its assembly facility in First Philippine Industrial Park in Batangas.
The company will assemble mountain bikes for export to the BRIC (Brazil, Russia, India and China) countries whose demand for bikes has been on the rise.
“A lot of whole lists of companies are coming here. There are already a lot of Japanese software companies installed here. There are also computer designers with offices here,” he added.
On the TCC issue, which the Japanese firms want the refund in cash, Urabe cited the move of the Department of Finance by coming with the Notice of Payment Schedule to these tax refund claims.
“It’s going to be paid back in cash and they are going to give us the schedule of payment. So things are moving we are in constant communication with the Philippine government,” he said.
The tax refund was raised by the Japanese side during the Philippines-Japan Economic Partnership Sub-committee meeting on Improvement of Business Environment for the ongoing general review of the country’s first bilateral free trade agreement.
Already, the Bureau of Internal Revenue has issued notice of payment amounting to P2.07 billion to settle VAT refunds to 390 Japanese firms’ applications as part of the government’s compliance to the Philippines-Japan Economic Partnership Agreement (PJEPA).
The sub-committee on the improvement of business environment tackled three outstanding issues – tax related concerns, electricity and improvement of country logistics.
The subcommittee reported on the BIR’s action on the applications by Japanese firms for the monetization of their certificate of tax credits (TCC) that Japanese firms have earned for zero-rated transactions.
“The BIR already issued notice of payment schedule for the 390 applications amounting to P2.057 billion,” the report said.
The BIR has received a total of 519 applications for VAT TCC Monetization amounting to P2.39 billion. With 309 applications being acted upon, there are only a total of 119 applications left.
Of the remaining applications, the report said that a total of 49 applications amounting to P60.3 million were denied due to later filing or existence of delinquent amounts. The remaining 80 applications amounting to P252 million were subject for review of the BIR.On the claims of San Roque Power Corp. for refunds amounting P114.191 million and Aichi Forging Co. of Asia for P3.792 million, the BIR has advised both claimants to follow up the requested certifications of “no pending claim” and delinquency verification with the concerned BIR offices.Source: More Japan manufacturing firms coming

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3 Taiwan firms mull investments in the Philippines

By Bernie Cahiles-Magkilat
Published: August 15, 2013
Three Taiwanese firms have committed to invest $32 million, approximately R1.34 billion, in the Philippines even at the height of the political spat between both economies while more are expected now that the dispute is over, the Manila Economic Cultural Office said.
MECO chairman Amadeo R. Perez Jr. identified these firms as Tai Han Precision with $20 million investments, Biotech Medical with $12 million, and Taiwan Fructose with $10 million worth of investments.
“These investments even came during the height of the tension arising from the shooting of a Taiwanese fisherman in the Balintang Channel,” Perez said. 
Tai Han will produce printer parts and components in Lima Techno Park in Batangas for supply to the printer manufacturing operations of Epson and Brother in the country.
Biotech Medical has already reserved 3 hectare ecozone lot in Hermosa, Bataan for the production of medical supplies, including syringes for exports.
Taiwan Fructose, which has been registered with the Securities and Exchange Commission, will supply some of Nestlé’s requirements. The company will locate its facility in the First Philippine Industrial Park in Batangas.
“Now that the problem is over, we expect more Taiwanese to invest here,” he said.
Perez further said that another Taiwanese firm is putting up a hotel in Pangasinan and a fish processing facility.
“This investment should not be lower than half a billion pesos,” Perez said.  
A Taiwanese supplier for Coach, maker of high-end bags, is also planning to put up a printing and design facility for Coach.
According to Perez, the Taiwanese investments in mainland China would run to about $3 trillion and many of them are leaving or planning to relocate somewhere else because of the high cost of labor in China.
“The biggest beneficiary of this exodus outside of China is Vietnam because they have low cost labor,” he added.
Many Taiwanese firms would also like to relocate here despite the high cost of labor because, “We have the strongest economic growth in Asia and they want to take advantage of that.”
“One thing they appreciate the transparency of the government under President Aquino,” he added.
In terms of trade, the Philippines is on the losing end as it suffered a huge trade deficit with Taiwan. Data from the National Statistics and Census Board, Philippine exports to Taiwan as of April this year reached only $517 million as against imports of $1.5 billion.
In 2012, the Philippines imported $4.8 billion, mostly electronics products, and exported only $1.9 billion.
“Our major export is our OFWs who remit about R1 billion a month back to the country, but in terms of merchandize not that much,” Perez said.This highly lopsided bilateral trade relations is largely because the Taiwanese investors in the country mostly exports their products directly to the US and Europe but not to Taiwan, Perez explained.  
Source: 3 Taiwan firms mull investments

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15 companies eyeing CALAx project

Published: August 15, 2013
Fifteen companies have shown interest to bid for the construction of the Cavite-Laguna Expressway (CALAx) project estimated to cost P35 billion, the largest project cost among the government’s  line-up of Public-Private Partnership (PPP) projects.
Before a jam-packed crowd of interested investors, the Department of Public Works and Highways presented yesterday the Cavite-Laguna Expressway (CALAx) project to interested investors.
Among those who expressed interest in the project include San Miguel Corporation, Korea Expressway Corporation, Alloy MTD Philippines Inc., Macquarie Infrastructure Holdings (Philippines) Pte. Limited, Megawide Engineering Excellence, Leighton Contractors (Philippines), Inc., Makati Development Corporation, AC Infrastructure Holdings, Metro Pacific Tollways Development Corporation, Aboitizland, Inc., Tokwing Construction Corporation/STX Enterprises (J.V.), E.F.C. Enterprises, M/s IL&FS Transortation Networks Limited (ITNL), L & T Infrastructure Development Projects Limited.
DPWH Secretary Rogelio Singson encouraged prospective bidders to air their concerns and issues during the market sounding activity held yesterday. “Please tell us what your issues and concerns are. This information will be used by the DPWH to make the project even more attractive to your institutions.” Singson said.
“What we want is to take out all the moving parts so that in the end there is only one moving part to consider: The price. We really want to hear you out,” he added.
Interested bidders and lenders both requested that DPWH come up early with the project details on the concession agreement to allow them enough time to undertake their due diligence in coming up with their own studies given the very tight deadlines set by the DPWH.
According to the project timelines, the pre-qualification conference is slated for August 16. Interested bidders have until September 23 to submit their pre-qualification documents to DWPH. The Cavite-Laguna Expressway (CALAX) project includes the Financing, Design and Construction, Operation and Maintenance of the entire 4-lane, 47 km closed-system tolled expressway connecting CAVITEX and SLEX. The Project will start from the CAVITEX in Kawit, Cavite and end at the SLEX-Mamplasan Interchange in Biñan, Laguna. The Project will have 9 interchanges in Kawit, DaangHari, Governor’s Drive, Aguinaldo Highway, Silang, Sta. Rosa-Tagaytay, Laguna Blvd., Technopark, and a Toll Barrier before SLEX Source: 15 companies eyeing CALAx project

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