corporate

AboitizPower Q1 net income dips by 9% to P3.6 billion

May 16, 2019

AboitizPower recorded a consolidated net income of P3.6 billion for the first quarter of 2019, 9% lower than the P4 billion recorded for the same period last year.      Non-recurring losses amounting to P440 million were recognized during the period, compared to the P1.2 billion in non-recurring losses recorded during the same period last year. Without these one-off losses, core net income for the first quarter of 2019 was P4.1 billion, 21% lower year-on-year (YoY), which was largely due to the higher volume and cost of purchased power.      Spot market prices were exceptionally high during the first three months of 2019, and the company purchased replacement power due to outages and over-contracting in preparation for Therma Visayas, Inc. (TVI) coming online. The company recorded consolidated earnings before interest, tax, depreciation, and amortization (EBITDA) of P10.4 billion for the period, 13% lower than the P11.9 billion for the first quarter of 2018.      “It has been a challenging first quarter for the industry and AboitizPower. The planned maintenance shutdown of power plants in preparation for the upcoming elections, coupled with forced outages, resulted in the grid's thinning reserves. Despite this, our customers remain our top priority and we ensured delivery of replacement power from the spot market,” said Emmanuel V. Rubio, AboitizPower Executive Vice President and Chief Operating Officer. Generation and Retail Electricity Supply      AboitizPower’s generation and retail supply business recorded a consolidated EBITDA of P8.6 billion in the first quarter of 2019, 15% lower than the P10.1 billion recorded during the same period last year. This was primarily due to higher volume and cost of purchased power. As previously mentioned, spot market prices were high during the first quarter of 2018, and the company purchased replacement power caused by outages and over-contracting in preparation for TVI’s incoming capacity addition.      Capacity sold for the first quarter decreased by 7% YoY, from 3,174 megawatts (MW) in 2018 to 2,947 MW in 2019.      “We are excited with new supply contracts and new power plants that have started to deliver power to the grid, which should contribute to our bottom line starting this year,” Rubio said.      “We will continue to pursue our renewable energy projects as we look forward to the implementation of the Green Energy Option Program and Renewable Portfolio Standards. We are committed to continue providing the country with adequate power supply that is affordable and sustainable,” Rubio added. Distribution      AboitizPower’s distribution business, meanwhile, recorded consolidated EBITDA of P1.9 billion, 3% higher than the P1.8 billion recorded last year.  The company saw energy sales increase to 1,343 gigawatt-hours (GWh), which was 3% higher than the 1,298 GWh recorded in the first quarter of 2018.  This was driven by the increase in new customers across all segments.  About AboitizPower      AboitizPower is the holding company for the Aboitiz Group’s investments in power generation, distribution, and retail electricity services. It advances business and communities by providing reliable and ample power supply at a reasonable and competitive price, and with the least adverse effects on the environment and host communities.      The company is one of the largest power producers in the Philippines with a balanced portfolio of assets located across the country. It is a major producer of Cleanergy, its brand for clean and renewable energy with several hydroelectric, geothermal and solar power generation facilities. It also has thermal power plants in its generation portfolio to support the baseload and peak energy demands of the country.      The company also owns distribution utilities that operate in high-growth areas in Luzon, Visayas, and Mindanao, including the second and third largest private utilities in the country.

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Harley-Davidson opens Davao dealership

May 16, 2019

DAVAO City — More Harley-Davidson motorcycles could soon be hitting Mindanao’s roads with the recent opening of a dealership here, which also offers after-sales service and original merchandise for the American motorcycle brand. The 500-square meter shop along J.P. Laurel Avenue is controlled by Rdak Global Motors Inc., the Harley-Davidson dealer in Cebu.      “We hope to satiate the craving of the Davao and Mindanao market (for the brand),” said Therese Carmita A. Maligon, marketing manager of the Cebu and Davao dealership in a news conference.      Rdak Global Motors owner Regan Rex T. King said the group decided to expand to Davao to address demand customers and tap “the growing markets in Mindanao.”      Mr. King did not disclose the number of Harley-Davidson owners in the southern islands, but said the market consists mainly of motorcycle enthusiasts who can afford a ride of at least P1.1 million.      This market, he added, always “look for a Harley-Davidson” even if they own other brands.      Mr. King said with the new Davao shop, Rdak Global hopes to ensure that customers “will get the premium experience that (Harley-Davidson) owners so deserve.”      “We want to give a premium customer experience for our customers in this part of the country, especially in having their bikes serviced,” he said.      He added that the company is selling not just high-end motorcycles, but a “total culture and lifestyle.”      “Our customers love to hang out,” he said, which is why it was important to set up more than just a display store.

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Cebu Pacific opens applications for new batch of Cadet Pilots

May 16, 2019

Leading Philippine carrier Cebu Pacific (CEB) is opening applications for a seventh batch of Cadet Pilots to be trained at the prestigious Flight Training Adelaide (FTA) in Australia through CEB’s “study now, pay later, zero-interest” training program. The carrier will be selecting 16 cadet pilots to join six other batches currently undergoing pilot training in Australia. Application period for the seventh batch of Cebu Pacific Cadet Pilots will run from May 17 to 26, 2019. Interested applicants may visithttps://www.surveymonkey.com/r/YFDGFGM to apply for the program starting 12 noon on May 17, 2019. There is no application fee for the program. Only applicants who pass the online pre-screening will proceed with the next stages of the selection process. The selection process consists of interviews, computer aptitude tests, medical examinations, psychological tests and spoken English tests. Only successful applicants undergo an on-site screening for core skills and pilot aptitude tests, among others, where a fee of AU$425.00 (about PHP19,000) will be charged. The Cebu Pacific Cadet Pilot Program is a multi-million dollar initiative that aims to provide a steady flow of highly-skilled, internationally trained airline pilots over the next five years. Applicants must be Filipino citizens who are college graduates who are proficient in English. There are no preferred college degrees, and applicants need only have an average grade of at least 80% or its equivalent in subjects related to Math, Physics and English. Cebu Pacific shoulders the entire cost of the pilot training. Cadet-pilots who successfully complete the training are assured of employment with the carrier. They then reimburse the cost of the program through monthly salary deduction over a maximum of ten years at zero-interest. One of these applicants was Darryl Dave Ditucalan from Iligan City. A certified Electronics and Communications Engineer, Ditucalan graduated Summa Cum Laude from the Mindanao State University-Iligan Institute of Technology. His parents are farmers and local government officials in the province of Lanao del Norte. Ditucalan took a chance and applied for the program. After undergoing a comprehensive selection process, he became part of the first batch of CEB Cadet Pilots. After a year of training in Adelaide, Australia, Ditucalan and 11 other cadets are set to return to the Philippines by mid-June where they are assured of positions as First Officers in the carrier’s pilot corps. “To those wanting to be pilots but are financially or otherwise constrained, take advantage of this opportunity offered by Cebu Pacific. The ten year payback period is very affordable compared to what this career can bring to you and your family,” said Ditucalan. Since the program was launched in late-2017, CEB has deployed 80 cadet pilots to FTA, selected from over 38,000 applicants, with a sixth batch set to depart for training by July 2019. For more information, visit http://www.flyfta.com/pilot-training/cebu-pacific-cadet-program.  About Cebu Air Inc. (PSE: CEB) Cebu Air Inc., operating as Cebu Pacific, is the largest carrier in the Philippine air transportation industry, offering its low-cost services to more destinations and routes with higher flight frequency within the Philippines than any other airline. CEB and subsidiary Cebgo fly to 36 domestic and 26 international destinations, with over 107 routes spanning Asia, Australia, the Middle East, and USA. The Cebu Pacific fleet is comprised of an Airbus A321NEO, 35 Airbus A320, seven (7) Airbus A321CEO, eight (8) Airbus A330, eight (8) ATR 72-500, and 12 ATR 72-600 aircraft. The ATR aircraft are used by Cebgo for inter-island flights where jet operations are not possible. CEB boasts of one of the youngest fleets in the world, with an average fleet age of five (5) years. For bookings and inquiries, guests can visit www.cebupacificair.com or call the reservation hotlines +852-397-33800. The latest seat sales can be found on CEB’s official Twitter (@CebuPacificAir) and Facebook pages. About Flight Training Adelaide (FTA) Flight Training Adelaide (FTA) is a provider of world-class, customized aviation training solutions for the fixed wing and rotary wing industry. FTA is focused on producing future airline and helicopter captains, rather than simply training cadets to obtain a license. FTA caters to sponsored cadets and self-funded students and offers a full range of services, including selection, ab initio and advanced training courses for airline and general aviation students. Located at Parafield Airport in South Australia, FTA started operations in 1982 and over the years has had a number of corporate owners, including Hawker de Havilland and BAE SYSTEMS. In 2005, FTA was purchased by Hong Kong-based Young Brothers Aviation.

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Udenna Group optimistic of Davao’s role as aviation hub

May 15, 2019

DAVAO City – Davao-based Udenna Infrastructure Corporation is bullish on the important contribution of the city to the aviation sector,  being the hub for meetings, incentives, conference, exhibitions (MICE) and a tourism destination in the South.      Engr. Manuel Jamonir, assistant vice president for operations of Udenna Infrastructure Corporation, said Wednesday that Davao City's role in the aviation sector lies in developing more international routes.      Jamonir noted that the Davao airport lags behind in terms of international traffic but hopes the city will become the next top key player in aviation once its airport will be expanded and developed.      As of now, he said the country's top airports with international traffic are the Ninoy Aquino International Airport (NAIA) in Manila and those in Cebu; Clark, Pampanga; and Kalibo in Aklan.      Jamonir said the Mindanao Development Authority (MinDA) is already working on stronger connectivity, beginning with the return of the Davao–Manado (Indonesia) direct flight. He said the possible reopening of the Davao-Manado route is now under discussion.       The Davao-Manado route used to be served by Bouraq Airlines until it was suspended years ago because of low passenger load factor.      Jamonir said the Department of Tourism (DoT) on Monday already collaborated with all tourism stakeholders to work together to promote Davao. He also underscored the importance of the basic elements of an eco-system from airport to inflight, transit, and motivation.      During Wednesday’s Habi at Kape at the Abreeza Mall, Jamonir presented Chelsea Logistics Holdings Corp. (CLC) plan for the Davao airport.      Chelsea Holdings is an Udenna firm, which submitted an unsolicited proposal to undertake the P48.8-billion expansion and operation of the Francisco Bangoy International Airport or the Davao International Airport.      Jamonir said Udenna already received an assessment from the National Economic Development Authority (NEDA) on its bid.      “We are working on our response,” he said, noting that the required response from Udenna was on Civil Aviation Authority of the Philippines-related concerns.      Two weeks ago, Udenna sought the endorsement of the City Council in its bid to undertake the airport project at P48.8 billion under the Public Private Partnership (PPP).      “The process will take longer. The city council will have to conduct hearing,” Jamonir told reporters. City Council will have to review and endorse the project to the DOTr, the Civil Aviation Authority of the Philippines (CAAP), and the Regional Development Council (RDC).      Jamonir said the P48.8 billion is the nominal cost under private financing--at no cost to the government. The project will include the landside and airside developments, reconfiguration and expansion of the passenger terminal building, parallel taxiway, and new airport technologies to enhance the passenger experience.      “It is an unsolicited PPP proposal so it has to follow the certain process under the BOT (Build Operate Transfer) law. We submitted the full proposal last year and we received the original proponent status,” Jamonir said.      Jamonir stressed that “if you have the original proponent status, the government will only talk to you and second, you have the right to match during the Swiss challenge”.      Currently, Jamonir said the existing airport can accommodate four million passengers based on their feasibility and technical analysis. Udenna seeks to increase its passenger volume by up to 15 million in 30 years. (PNA)

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ePLDT ushers in a new era of business as it expands ICT offerings

May 6, 2019

ePLDT, Inc., the country’s leading enabler of digital solutions, stands at the forefront of solving today’s biggest IT challenges as it expands its ICT offerings for local enterprises. Fully aware of the daunting task of digital transformation, ePLDT now provides a comprehensive suite of solutions — the protection of mission-critical data assets through global-class data center services, the enablement of agility and lower total cost of ownership through managed, hybrid, & end-to-end cloud services, the mitigation of increasing cyber threats through a class-on-its-own cyber security portfolio, and the holistic management of information technology systems via full-spectrum managed IT services.      In ePLDT’s recently concluded event aptly themed “Let IT Be e,” the group thanked customers for entrusting their ICT requirements to ePLDT and announced its newest services offerings. By adopting such slogan, ePLDT highlights its thrust of empowering businesses to focus on their growth and expansion, enjoining customers to Let their IT requirements Be enabled by ePLDT.      “As newer and more experimental practices continue to disrupt and challenge the business resiliency of our customers, we remain committed to innovating our services and offering even more relevant and expertly designed ICT solutions,” said ePLDT Senior Vice President & Chief Operating Officer Nerissa Ramos on the group’s rationale for expanding their offers.      “ePLDT will continue to lead in enabling the digital transformation of local enterprises through relentlessly searching for new ways to solve real-life problems simply, efficiently, in real-time, and with a fan-building experience. We are expanding our ICT solutions not for the elegance of technology or for the curiosity of innovation, but because of the growing needs of our valued customers,” Ramos added.      Through its holistic digital business solutions, ePLDT aspires to transform the Philippines into a more digitally-driven nation and reinforces the group’s belief that technology is a primary vehicle for nation development. Data Center      Among the banner products of the suite is the group’s world-class VITRO Data Center colocation and connectivity services, which assure customers of data security and protection, data accessibility, and disaster resiliency throughout its network of 10 locations situated across strategic geographies in the country. Its most recent development is the interconnection of its ten VITRO Data Centers through software-defined networking (SDN) technology, allowing for a cloud-like deployment of connections across all data centers and, in turn, more efficient implementation of data transport, backup, and replication.      To further support the business continuity of local organizations, ePLDT will be opening three of the first purpose-built Disaster Recovery buildings in the Philippines located across the country, adjacent to the group’s major VITRO Data Centers. Also through SDN technology, organizations can deploy disaster recovery seats in multiple locations, allowing for higher resilience in events of natural and man-made disasters. Cloud      Through their continuous investment in cloud technology, expertise, and best practices, customers can leverage on ePLDT’s best-in-class cloud capability. Their Cloud portfolio covers various competencies such as cloud resources, professional services, cloud connectivity, cloud security, and business applications, focusing on Contact Center, Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), Spend Management, and Productivity tools. ePLDT’s Cloud Solutions make cloud work for clients by recommending the proper Infrastructure-as-a-Service, Software-as-a-Service, Disaster Recovery-as-a-Service, and Contact Center-as-a-Service platforms for clients, depending on their specific needs, and managing these cloud systems through best practice methodology and globally certified expertise. ePLDT’s expertise extends across global pacesetting Cloud partners such as Microsoft, Google, Salesforce, and SAP. Cyber Security      Another key solution offered by ePLDT is Cyber Security, which allows businesses to redefine their cyber defenses against a wide range of threats. The group offers class-on-its-own services through a holistic cybersecurity framework that synergizes four key abilities: Predict, Prevent, Detect, and Respond. Through this model, businesses will be able to harness globally accepted cyber security practices and enhance breach monitoring process facilitation, compliant to Data Privacy Act provisions. ePLDT’s cyber security experts can also extend 24/7 support and management, on top of providing best-in-class security platforms.      With ePLDT’s own Security Operations Center, cyber intelligence on potential attacks are gathered through in-house threat-hunting and global threat feeds of its trusted partners. Similarly, ePLDT offers Cyber Security Consulting services to help identify and validate an organization’s vulnerability or risk level to potential cyberattacks. Managed IT Services      Businesses are assured of holistic IT management with ePLDT’s Managed IT services, which seek to eliminate downtime and ensure business continuity through an all-inclusive ecosystem. Key features of the service include proactive monitoring and management of IT systems, complemented by the input of subject matter experts, which translates to faster mean time to repair, minimized cost, and optimization of IT environments.      Other services covered by the pillar are infrastructure consulting, data privacy consulting, data science services, and IT infrastructure services, allowing customers to focus on more strategic and high-level decision making.       “Since its founding, ePLDT has aimed to enable the digital transformation of local enterprises. With the evolution of technology making digital transformation inevitable and our economy continuing its growth trajectory, the local business landscape now stands at one of its most turbulent but promising conditions,” stated SVP & Head of PLDT and Smart Enterprise Business Groups Jovy Hernandez.      “By identifying the four key pillars needed to successfully adopt digital practices, it is our aim to empower customers to take full advantage of this climate to sustain the success of their businesses,” Hernandez continued.      ePLDT, Inc. is the premiere provider of holistic digital business solutions in the Philippines. ePLDT’s full suite of ICT products and services that are up to par with global benchmarks include Cloud, Cyber Security, purpose-built Data Centers, and Managed IT Services.      To learn more about ePLDT’s expanded suite of end-to-end ICT solutions, visit https://www.epldt.com.

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SHARP Philippines awarded as “Trusted Brand” by Reader’s Digest

April 24, 2019

Sharp Philippines Corp. became a household name for the durability and quality of their Washing Machine products that’s why Filipino families trust Sharp as their laundry partner for so many years now. During the recent awarding ceremony held last April 2, 2019 at the Marco Polo Ortigas Manila Hotel, Sharp was once again awarded with the Ultimate Seal of Consumer Approval as one of the Most Trusted Brands for Household Products for the Washing Machine Category in the Reader’s Digest Asia’s Trusted Brand 2019 Awards. Establishing Solid Reputation      The Reader’s Digest Asia Trusted Brands has established a solid reputation as the premier consumer-based survey in Asia, providing a credible and reliable reference for consumers throughout the region. With this, Sharp Philippines is truly honored to receive this recognition and is genuinely thankful to everyone who trusted their brand and voted in this category.      In fact, Sharp has released a variety of Washing Machine products fit for everyone’s different needs from Washer, Dryer, Twin-Tub, Fully-Automatic to their newest Front-load Inverter Washing Machine. Sharp continuously strive to develop engineered products that can make consumer’s life more convenient and comfortable.

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