CORPORATE ROUNDUP

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    SLAMCI offers new product that provides diversified investments

    Sun Life Asset Management Company Inc. has launched a new product which will allow clients to invest in the global stock market using the local currency, as it highlighted the benefits of diversification especially amid challenging times due to the coronavirus disease 2019 (COVID-19) pandemic.

    In its Sun Life Prosperity World Equity Index Feeder Fund, investors may enjoy long-term growth as investments are placed into a target fund that tracks the performance of the Morgan Stanley Capital International All Country World Index (MSCI ACWI), an index that represents more than 2,000 constituents across developed and emerging markets.

    “(It highlights) the diversification benefits of investing offshore, because I think if you look at the Philippine equity market… it’s just composed of 30 shares and the bulk of the market capitalization are dominated by conglomerates. But you can see from the other markets, for example in the US market… there are other sectors that can perform a lot better,” Michael Gerard Enriquez, Sun Life chief investments officer, said in a virtual briefing yesterday.

    “For example, in a situation such as a pandemic, health care, information technology (are examples of sectors that can perform better), which admittedly the Philippines does not have. And 30 shares compared to about 2,000 plus exposure in a global index definitely can diversify your risk, it gives you better management of risk in terms of volatility,” he added.

    Enriquez pointed out the Philippine index has lagged both among regional peers and the developed markets during the pandemic.

    “In terms of recovery you’ve seen some of the other economies already recovered in terms of equity market performance, even if their economy hasn’t really recovered yet (from the pandemic),” Enriquez said.

    Here in the Philippines, he said the index is still down by about 25 percent year-to-date.

    “A lot of factors can contribute to this and I think number one would be the increasing number of cases for the Philippines, second would be heightened regulatory risk,” Enriquez said.

    Davao Light installs digital substation amid the pandemic

    Davao Light and Power Co. Inc. has launched the first digital substation in Calinan district in Davao City which is expected to improve accuracy, efficiency, reliability and availability of power supply in the area.

    The digital substation has higher capacity that can cater to more customers in surrounding areas and equipped with a communications system that allows for online monitoring and assessment to detect possible technical problems and administer immediate actions earlier.

    Davao Light said the facility will significantly reduce, shorten, and even prevent power outages and their impact to the community.

    It will also minimize physical checking of the substation’s status and manual labor in restoring power, which is vital during the quarantine period.

    Davao Light is the third largest privately owned electric utility in the country, with a franchise to serve to Davao City as well as Panabo City and the municipalities of Carmen, Dujali and Sto. Tomas in Davao del Norte.

    EDC to pursue overseas geothermal projects 

    First Gen Corp. subsidiary Energy Development Corp.’s geothermal energy projects in Indonesia, Taiwan, Peru and Chile are still in the works, its executive vice president Richard Tantoco said at yesterday’s stockholders meeting.

     

    “We are still keen with our Graho Nyabu project in Indonesia. We intend to start civil works and drilling in the next two to three years. Taiwan is also one of the countries we are currently looking at for potential expansion due to a favorable feed-in-tariff for geothermal energy,” Tantoco said.

    “Peru and Chile are still part of the key markets that we are keen on expanding to. Generally, we see governments starting to see the value of true baseload RE in the markets we are present in and this is being reflected in better price signals to support geothermal development,” he added.

    As of end-2019, the country had a total installed on-grid capacity of 25,531 megawatts (MW).

    Sky Fiber boosts affordable broadband plan

     ABS-CBN Corp. unit Sky Cable Corp. has launched its most affordable broadband plan in Metro Manila and key provinces.

    Sky broadband services SKY Fiber has boost the speed offers from 5 megabits per seconds (Mbps) to 10Mbps for the same monthly fee of P999, which offers the most value for money in the fiber broadband market.

    The existing SKY Fiber 5Mbps plan subscribers will be upgraded to 10Mbps starting July to August this year without paying for additional fees. The SKY Fiber’s 10Mbps plan can surely boost one’s productivity as they manage remote learning or work tasks at home.

    SKY Fiber’s 10Mbps plan is now available in Metro Manila, Rizal, Cavite, Laguna, Bulacan, Batangas, Baguio, Bacolod, Iloilo, Dumaguete, Cebu, Davao, Zamboanga & Gensan.

    SKYcable and SKY Fiber services continue to operate and serve its subscribers nationwide, but its satellite services Skydirect  with 1.5 million subscribers has stopped operation following the cease and desist order of National Telecommunications Commission.