Smuggled rice seized
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- Published on Friday, 24 May 2013 00:00
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The Bureau of Customs seized yesterday three vehicles and P12 million worth of smuggled rice at the Port of Davao, all of which were believed to be illegally imported from other Asian countries.
Customs Commissioner Rufino Biazon led the inspection of 22 container vans of rice worth P12 million; and one 40-footer container van which carried one used Daewoo Rezzo vehicle, one Kia Carens, and one Hyundai Sonata.
Add a commentNGO calls for review of Consumer Act
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- Published on Friday, 24 May 2013 00:00
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A non-government organization, the Philippine Metrology, Standards, Testing and Quality Incorporated (PhilMSTQ Inc.), is calling for the review of the Consumer Act as well as the realignment of the functions of the Bureau of Product Standards (BPS) to ease government hold on product standards.
In a press conference launching “Quality Matters,” an advocacy for an improved National Quality Infrastructure (NQI), Cirila Botor, PhilMSTQ Inc. president, stressed that a “strong and well-coordinated national quality infrastructure with the inherent elements of metrology, standardization, testing, certification and accreditation is vital to a country’s economic growth.”
Add a commentAboitiz echoes concerns on power oversupply
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- Published on Friday, 24 May 2013 00:00
- Written by RICHMOND MERCURIO
Aboitiz Power Corp. president and CEO Erramon Aboitiz yesterday expressed concern about a potential power oversupply in Mindanao in the next three to four years, echoing forecasts aired earlier by San Miguel Corp. president Ramon S. Ang.
“I think if everybody builds what they say they are going to build, then clearly there will be an oversupply (in Mindanao),” Aboitiz said.
Add a commentMegaworld eyes P12B sales from new Makati condos
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- Published on Friday, 24 May 2013 00:00
- Written by ALBERT CASTRO
Megaworld Corp. aims to generate P12 billion in sales from four residential projects it is developing in Makati City targetting what it calls as the “super high-end” market.
These properties—Two Central, Three Central and Paseo Heights in Salcedo Village, and Greenbelt Hamilton in Legazpi Village—are set to rise in the next three to five years, adding an estimated 2,000 brand new units in Makati City’s condominium inventory.
Add a commentBerjaya buys into Redtone
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- Published on Friday, 24 May 2013 00:00
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Berjaya Corp. has purchased P275.72 million stake in Kuala Lumpur Stock Exchange-listed Redtone International Berhad.
The company, in a regulatory filing, said the acquisition consists of 11.404 million shares at an acquisition cost of approximately P62.5 million (which constitute 2.39 percent of total outstanding stock), 81.25 million units of convertible debt denominate at an acqusition cost of approximately P211.18 million (which constitute 33.46 percent of convertible debt) and 563,700 warrants at an acquisition cost of approximately P2.039 million (which constitute 0.35 percent of all warrants issued).
Add a commentPTT looks south for expansion
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- Published on Friday, 24 May 2013 00:00
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After conquering North Luzon over the past ten years, Thailand’s largest oil company, PTT Public Co. Ltd., is now setting its sight on expanding in Luzon’s southern parts this year.
Wisarn Chawalitanon, PTT Philippines Corp. president and CEO, said yesterday the company currently has 20 stations which are under construction and are set to open this year.
Add a commentAboitiz to finalize venture with Ayala
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- Published on Friday, 24 May 2013 00:00
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Abiotiz Land is close to rolling out its first project under its partnership with fellow developer Ayala Land, Inc.
Andoni Aboitiz, Aboitiz Land president, said that under the partnership signed in April, they will start with one mixed-use project which will be the testbed of future joint-venture property projects between the two land developers.
Add a commentEmployers seek less regulation
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- Published on Friday, 24 May 2013 00:00
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The Employers Confederation of the Philippines (ECOP) is asking the government to undertake reforms that would allow labor and employers to thrive with less government regulation, a copy of a one-page resolution to be passed today at the end of the two-day 34th National Conference of Employers (NCE) at the Marriott Hotel showed.
In his speech at the NCE yesterday, ECOP president Edgardo Lacson took exception to the more than 100 pending bills “disguised as pro-labor but are simply anti-employer” as well as the existence of indiscriminate criminal provisions in the Labor Code.
Add a commentSymbiotic relationship for 2 countries
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- Published on Friday, 24 May 2013 00:00
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Vice President Jejomar Binay said Philippine and Taiwan economic relations are mutually beneficial for both countries.
“It’s not one way,” replied Binay, the Presidential Adviser on OFW Concerns, when asked how he will ensure the job security of the overseas Filipino workers (OFWs) in Taiwan amid the tensions between the two countries.
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