business

Foton PH holds biggest truck sale in Mindanao

October 4, 2019

If you’re looking for a brand new vehicle whether for business or private use, the best time to purchase is on October 9-12, 2019 as FOTON Motor Philippines, Inc. (FMPI) goes down to Cagayan De Oro for the Mindanao leg of their largest truck and van sale, FOTON's Big AtTRUCKtion.  “FOTON’s Big AtTRUCKtion is a ‘a one-stop shop’ that features exclusive cash discounts, easy to avail financing schemes from partner banks, as well as PMS Service bundles to go with your unit purchase,” announced FMPI President Rommel Sytin. Powered by Blue Energy Euro 4, the wide array of product segments which will be put up in the center of attraction are FOTON's fresh line-up of light duty trucks, medium duty trucks, and heavy duty trucks. These trucks will showcase different body configurations built for various purposes such as F-Van, MPV for passengers, Dropside, Dump Truck, Double Cab, Wing Van, and Tractor Head. For micro-, small and medium enterprises, the Gratour series represented by the 8-seater MiniVan and Gratour MT, will also be exhibited and up for grabs. Apart from the commercial vehicles, FOTON’s best-selling passenger vans will also be on display, and on sale—the TransVan, Traveller and Toano vans. What makes FOTON’s Big AtTRUCKtion the biggest sale of the year are the event-exclusive zero downpayment deals, discounted low monthly amortizations, and cash discounts up to a whopping P 300,000. CASH DISCOUNTS For those who will purchase in the event via cash basis, FOTON gives away exclusive cash discounts applicable to both passenger and commercial vehicles. PhP 25,000 will automatically be deducted in every purchase of the Gratour model including the 8-seater MiniVan, MT and TM variants. For those who would like to venture on a transport service business, the 2018 TransVan models is available with a cash discount up to PhP 100,000. For your private family tours, the 16-seater Traveller and 19-seater Traveller XL make a perfect match, and also a perfect deal with a P 70,000 discount. However, if you wish to bring home a more executive VIP van where you can create your own living space even on the road, choose the FOTON Toano van topped with a P 300,000 cash discounts on all variants. Aside from the low downpayment and low monthly deals, the Tornado light duty trucks and Hurricane EST-M medium duty trucks are available with a P 50,000 discount. The ETX-N and EST-M are also available at P 250,000 cash discount, while the biggest savings are applicable to the heavy duty trucks particularly with the EST, ETX and GTL at P 300,000 cash discount. The brand’s solution for PUV modernization program, the F-Jeepney, will also be showcased in the expo. ON-SITE APPROVALS Another major reason to attend this expo is the highest chance of faster vehicle loan applications through its on-site approval activity. Guests just have to choose from the wide variety of SUVs, passenger vans, light duty trucks, medium duty trucks, and heavy duty trucks perfect for their needs and have their application approved on the same day. FOTON’s Big AtTRUCKtion: Cagayan De Oro is open to the public from 10:00 a.m. to 6:00 p.m. from October 9-12, 2019 at Marcos Bridge corner Kauswagan Highway in CDO. This event will be followed by FOTON’s Big AtTRUCKtion Visayas leg on October 18-19 at SM City Cebu Event Center.  To know more about the FOTON's Big AtTRUCKtion, call 0999-999-9998. You may also visit their website at www.foton.com.ph or www.facebook.com/FOTONPhilippines. 

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CDO gov't to invest in T-bills

October 2, 2019

THE city government of Cagayan de Oro will be investing in Treasury bills.   During its weekly session last Monday, the City Council approved an ordinance authorizing Mayor Oscar Moreno to invest in Treasury bills in the amount of P20 million.   According to Councilor Edna Dahino who authored the ordinance, the investment will come from unused funds deposited to the city government at Philippine Veterans Bank and Amanah Bank.   Dahino explained that Treasury bills are sound investments because they gain higher interest than bank deposits.   The councilor also cited Department of Finance Order No. 071-2018 authorizing local government units to invest their unused funds in government securities. Treasury bills are short-term fixed income securities issued by the Bureau of Treasury. Investing in Treasury bills is practically risk-free since there is a low probability that the Philippine government will default on its own local currency debt.   Dahino's ordinance is backed by Councilors George Goking and Ian Mark Nacaya.

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Cainta embraces Mag-Pinggang Pinoy® Tayo! Program

September 30, 2019

Ajinomoto Philippines Corporation (APC) in collaboration with Department of Health (DOH) and Food and Nutrition Research Institute (FNRI) formed ties with the Cainta local government to launch the Mag-Pinggang Pinoy® Tayo! 2019 Program.   The ceremonial contract signing held last September 20, 2019 at Cainta Elementary School was graced by former DOH Undersecretary and Mag -Pinggang-Pinoy® Tayo! 2019 Technical Working Group (TWG) Chairman Dr. Ethelyn P. Nieto, Cainta Mayor Johnielle Kieth Nieto, Cainta Vice Mayor Ace Bernardo Servillon, DOH CALABARZON Division Chief Dr. Noel Pasion, FNRI Science Research Specialist II Ms. Jovina B. Sandoval, and APC Group President Tsutomu Nara. The country has been facing decades-long phenomenon called “Double Burden of Malnutrition”, which the World Health Organization (WHO) defined as the “coexistence of undernutrition along with overweight and obesity, or diet-related noncommunicable diseases, within individuals, households and populations, and across the lifecourse.”. In 2018, Ajinomoto Philippines Corporation partnered with government agencies to conduct the pilot run of Mag-Pinggang Pinoy® Tayo! in order to raise awareness and promote the practice of Pinggang Pinoy® in malnutrition hotspots in Quezon City, Kalookan, Malabon and Navotas. This year, the public-private alliance brings the program to Cainta to educate its homemakers on the causes and effects of the Double Burden of Malnutrition and make available practical tips on how to serve Pinggang Pinoy® using Ajinomoto’s delicious, healthy, easy-to-prepare and affordable recipes. Mag-Pinggang Pinoy® Tayo! 2019 Program aims to unite Cainta to adopt Pinggang Pinoy® and promote healthier eating habits to fight Double Burden of Malnutrition.  The program’s TWG, led by Dr. Nieto, has started to convene representatives from the four (4) institutions to develop modules for homemakers, barangay health workers and barangay nutrition scholars based on careful nutrition needs assessment. The education and livelihood programs as well as the improvement evaluation will ensue until year 2020. Cainta Government also expressed their strong commitment to promote the practice of Pinggang Pinoy® in the whole municipality.   APC President Tsutomu Nara conveyed his gratitude to the program’s stakeholders saying, “We all came here today to mark the beautiful changes that will happen in CAINTA! And I thank all of you for showing your commitment. This event is a milestone that aims for a healthier citizenry to fight Double Burden of Malnutrition, not only in Cainta but in the Philippines.”. For updates about Mag-Pinggang Pinoy® Tayo!, visit www.ajinomoto.com.ph and facebook.com/CookmunitybyAjinomotoPH. *** The Ajinomoto Group is a global company with specialties in the business of food and amino acids, guided by our leading-edge bioscience and fine chemical technologies. Based on the corporate message “Eat Well, Live Well.”, we have been scientifically pursuing the possibilities of amino acids in supporting the healthy lives of people all around the world. We aim for future growth and continuous contribution to greater wellness by creating value through sustainable and innovative solutions for communities and society. The Ajinomoto Group has offices in 35 countries and regions, and sells products in more than 130 countries and regions. In fiscal 2018, sales were 1.1274 trillion yen(10.1 billion U.S. dollars). To learn more, visit www.ajinomoto.com.

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Johndorf unveils latest CDO offering Orchard District

September 27, 2019

ORCHARD District – the latest offering of Johndorf Ventures Corporation in uptown Cagayan de Oro City – was introduced to the public last Thursday (September 26, 2019) via a ceremony at Limketkai Luxe Hotel here. According to president and CEO Richard Lim, Orchard District is branded as a modern integrated township amidst a natural landscape. Encompassing Upper Balulang and Lumbia, Orchard District is in line with the city government’s vision of transforming uptown Cagayan de Oro into another growth area. Surrounded by mango orchards on one side and a ridge overlooking the scenic Cagayan River on the other, the aptly named 43-hectare Orchard District will have multiple residential and community retail options. The first residential development of the project is Videre, a 12-hectare planned subdivision with a choice of single attached or duplex homes. Inside will be a clubhouse with pool, a basketball court and other amenities. During the launch, Mayor Oscar Moreno thanked Johndorf Ventures Corporation for choosing uptown Cagayan de Oro in their latest investment. Moreno said the new growth area will feature a new extensive road network from the northern tip of Bukidnon going all the way to Laguindingan airport. He also praised Johndorf’s resiliency, noting that the company was founded in 1985 when the country was in an era of regional and national instability. From its humble beginnings in Iligan City then, the company has subsequently expanded its operations in other major cities in Mindanao as well as in Cebu City. Today, it is one of the top homegrown developers in Cebu and Northern and Southern Mindanao.

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USTP asks Italpinas help in developing green campus spaces

September 26, 2019

  THE University of Science and Technology of the Philippines (USTP) has inked a partnership with environment realty champions Italpinas Development Corporation to develop environmental-themed curricula as well as consult in transforming their campuses into more green-friendly spaces. The memorandum of understanding (MOU) signing was inked between Italpinas Development Corporation chairman and CEO Romolo Nati and USTP vice chancellor Consorcio Namoco Jr. last Thursday at the USTP Chancellor’s Office in its Cagayan de Oro City main campus along CM Recto Avenue. Namoco said they are looking forward working with Italpinas in the conduct of seminars and symposia related to green building technologies and sustainable urban development and innovation, participation in the enhancement and reviews of relevant curricular progams and conduct of collaborative projects, among others. In particular, Namoco said they are looking into the possibility pending Ched approval of offering a Master in Sustainable Development and Master in Public Innovation programs there. These programs, he pointed out, will try to lessen the gap between industry and academe. Italpinas will likewise be tapped to enhance the already environment-friendly main campus such as creating a rain catchment there which could be use to water the plants and toilets. The rain catchment would also serve as the university’s response to perennial flooding in the area. Namoco added that they will also be consulting with Italpinas on how to develop their 292-hectare soon to be campus in Alubijid, Misamis Oriental to make it environment friendly. For his part, Nati said they chose USTP as their partner since it is the premier educational institution in the region that is science-centric. “In our ten years of doing business in Cagayan de Oro, we thank the community for welcoming us. That is why we want to give back something to our host community,” he said.

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Laguindingan Airport Expansion PPP proposal expected approved by year end

September 24, 2019

The original proponent of the Public Private Partnership to expand the Laguindingan Airport (IATA: CGY, ICAO: RPMY) expects government to approve its proposal by the end of 2019. “Because of the National Development Authority – Investment Coordinating Council (NEDA-ICC) wanting us to copy the Operation and Maintenance (O&M) contract from Clark, we basically had to start from square one, rewrite the entire contract; we have submitted it to the Civil Aviation Authority of the Philippines (CAAP), they have approved it, and it is now being reviewed by the Department of Transportation (DOTr) before submission to NEDA ICC,” said Jose Emmanuel Reverente, VP-Aboitiz InfraCapital, Inc. (AIC) during a presentation during the 28th Mindanao Business Conference held recently in Iligan City. Aboitiz InfraCapital Vice President for Finance Jose Emmanuel Reverente presents  their vision of the check-in counters for the expanded Laguindingan Airport by 2022 under their P42.7 Bilion unsolicited proposal “Since we have copied the Bohol Panglao Airport proposal that has been approved by NEDA ICC Technical Committee, we are optimistic the revised Laguindingan contract will go through much faster,” he added. “We are very hopeful by the end of this year, the contract can be awarded to us after the Swiss Challenge process.” Last February 26, the Civil Aviation Authority of the Philippines (CAAP) granted AIC original proponent status (OPS) for its unsolicited proposal to upgrade, expand, operate, and maintain the Laguindingan Airport  for a 35-year concession period. Reverente said AIC use the lens of “infrastructure ecosystems” currently acting on the following spaces: airports, passive telecommunications infrastructure (common towers), water and sanitation to drive economic progress and uplift the lives of every Filipino. It is part of the NAIA consortium that aims to improve the NAIA, and Bohol Panglao International Airport. Regional Gateway AIC said the Laguindingan Airport is a strategic entry point into Northern Mindanao which has experienced tremendous growth over the past years and is progressively catching up with the more developed parts of the country. “As a regional airport serving Northern Mindanao and its adjacent regions, CGY/RPMY  has been serving six provinces, two highly urbanized cities and five component cities with an average of two million passengers annually for the last three (3) years,” said Ma. Teresa R. Alegrio, Region X Governor of the Philippine Chamber  of Commerce and Industry (PCCI), which has been instrumental in pushing for the airport’s immediate expansion.  “Laguindingan Airport has become an important logistic network for over 150 medium to large scale industries including four major thermal power plants, the Agus-Pulangi Hydroelectric Complex. 3 industrial parks, and emerging tourism destinations,” Alegrio noted.  “Our proposal to the national government is to run the Laguindingan International Airport including operations, maintenance, rehabilitation, and expansion over a 35 year concession,” Reverente said. “Our plan is to spend initially P4.2 billion pesos to expand the airport; and a total of P43-billion pesos over the concession period half for repairs/capital expenditure and the other half to maintain a high state of readiness of the capital assets,” he added. Immediate Expansion Reverente said the first phase of their plan calls for the immediate expansion of the terminal building. “It is not in our best interests to construct it over a long period of time. We will want to finish it as soon as possible, so we can have that capacity readily available. We prefer to build it in phases. An integrated PPP approach that allows us to build and operate the airport is the right combination so the P43-billion we would like to invest into the expansion  and maintenance,” he said. It’s one thing to build the infrastructure but another thing to maintain its operational readiness over the entire concession period, he stressed. Passenger Traffic Growth When it started operations in 15 June 2013, air passenger traffic at the Cagayan de Oro Lumbia Airport that Laguindingan Airport was designed to replace had already exceeded the 1.6 million design capacity of the new passenger terminal building (PTB). “To put it bluntly, the replacement airport was congested upon opening,” said a former DOTC official involved in its planning. When the passenger traffic exceeded 2 million annual passengers last year, the need for a larger terminal that could accommodate the current and expected passenger volume over the medium term became urgent and critical. On a year-on-year basis alone, the Civil Aviation Authority of the Philippines ( CAAP) figures for the past 10 years show passenger traffic at the Cagayan de Oro Lumbia Airport increasing at an annual rate of 8.7% from 902,133 in 2008 to 2,079,683in 2018 (doubling passenger volume every 8.5 years). The 11% increase in the number of flights from 2017 to 2018 (17,478 aircraft takeoffs and landings) was mainly responsible for the meteoric rise in both passenger and cargo movements.  “We expect passengers to rise from 2 million to almost 12 million over the 35 year concession period,” Reverente said. AIC Vision 2022 In his presentation, Reverente unveiled digital renderings of AIC’s Proposed Master Plan and how the CGY/RPMY airport would look by 2022 after the initial expansion phase. “For the first phase we plan to expand the existing terminal left and right to increase capacity to about 4 million passengers per year.  After initial expansion, passenger boarding bridges will be expanded to 5 from the present 3,” Reverente said. “Even without international flights and larger airplanes, the passenger terminal is not big enough so our first task is to expand the passenger terminal. We believe building the terminal first to accommodate the projected passenger traffic over the short term is the better use of capital at the start. When there are more passengers coming through the airport, then the next step is to extend the runway to accept larger aircraft which normally are required to fly longer distances.” Ultimate master plan will expand airport terminal to be able to accommodate up to 20 aircraft at any given time.  “Pre-departure and arrival areas, includes digital signage so check in counters are flexible and can be expanded or reduced depending on the number of flight departures for any given airline at any given time to expedite check in process.” Runway Extension However, DOTr Sec. Arthur Tugade announced last 15 July the proposed extension of the 2.1 kilometer runway to 2.4 or 2.5 kilometers is proceeding as planned. Tugade said the P250-million (M) budget for this project is already included in the 2020 National Expenditure Plan (NEP), which Congress wants approved before the year end. This was part of the Feasibility Study expansion proposal endorsed by the Regional Development Council for Region 10 (RDC-X) and approved by the NEDA Board in 2014. Rising Cargo Traffic The runway extension is also expected to address the recent growth in air cargo traffic which soared 44% from 2017 to 25,366 metric tons (MT) in 2018. Another factor expected to increase cargo traffic is the 105-hectare (ha.) Laguindingan Technopark now being constructed adjacent to the airport as part of Ayala Corporation’s Habini Bay mixed-use development covering Laguidingan and the adjacent municipality of Alubijid. Aboitiz InfraCapital Vice President for Finance Jose Emmanuel Reverente presents a rendering of their vision for the expanded Laguindingan Airport by 2022 under their P42.7 Bilion unsolicited proposal During a previous visit, executives of German logistics giant DB Schenker said such technoparks are expected to “drive massive airfreight” similar to what the Ayala’s Laguna Technopark did in Luzon. “If the runway is already extended, it is even more important for us to expand the passenger terminal. Our plans also include the refurbish and expansion of the cargo terminal. We believe if the airport is run as a commercial enterprise, we will be able to respond much more swiftly to changes in the economic environment without having to go through a multi-year NEDA process,” Reverente noted.   “As a private enterprise, Aboitiz will help market Northern Mindanao as a destination globally to assist marketing efforts of Dept of Tourism , DTI and other government agencies increase passenger and cargo traffic to Laguindingan Airport,” he added. 2020 DOTr Aviation Sector Budget During the recently concluded 28th Mindanao Business Conference, Cabinet Secretary Karlo B. Nograles confirmed DOTr had proposed  funding for the aviation sector amounting in the 2020 budget to P865 million for the development of airports and the upgrading of airport facilities. “Of this figure, P100 million will be allocated for the development of Laguindingan Airport. For the Surigao airport, based on the latest inspection, we believe we will be able to meet the November 2019 completion target for the initial 400-meter repair, and the full 700-meters by February 2020,” he added. DOTr will reportedly utilize the P100 million to start detailed engineering works and much needed repairs on the Laguindingan Airport as part of the P2.9 billion augmentation budget to fund its priority projects, including the development of four airports, the construction of the Pagasa Island port, and the implementation of the public utility vehicle modernization program. The DOTr originally allocated P400-million (M) for the terminal building expansion of the Laguindingan Airport, but this was reduced to P180-M, then again halved to P90-M, before being slashed altogether by the Department of Budget and Management (DBM) from the 2019 General Appropriations Act (GAA). However, the business sector lobbied strongly for the restoration of the reduced budget and the P90-M was eventually restored through a Congressional Initiative by Rep. Juliette Uy (2nd District, Misamis Oriental). Sources at the DOTr said a portion of the P90-M would be used for the Detailed Engineering (DE) of the proposed expanded passenger terminal building. The bidding process for an independent consultant to undertake the DE is now being processed and the contract is expected to be awarded by the latter part of 2019. The balance of the P90-M would used to rehabilitate dilapidated portions of the terminal building such as the comfort rooms. Even if the original P90-M would already be used up, expansion of the PTB would still continue with the proviso the funds used for this purpose would be reimbursed to the national government by the winning bidder for the PPP project to develop and expand the airport faculties. ”While we appreciate the P90M Congressional Initiative Fund restored by Rep. Juliette Uy, this amount is barely enough to refurbish the dilapidated areas including the poorly designed comfort rooms and malfunctioning elevators,” said Engr. Elpidio M. Paras, president of Promote Northmin Inc.  “Government should now fast track the entry of private sector companies to expand and improve all the facilities of Laguindingan so that it can already accommodate direct flights from regional and international destinations, including lengthening the runway to meet wide body jet aircraft,” he added.

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