Malaysia's Knusford: Parties Couldn't Agree On Terms Of Philippines Project
Nikkei Asian Review - 2017-12-22
The company received a letter from Filipino developer Arthaland Corporation not to engage Knusford and China Railway Group as the contractor for the project to build the 38-floor Cebu Exchange office building, Knusford said in an exchange filing.

Philippine Monetary and Banking Industry: Doing good business as ever
Business Mirror - 2017-12-22
Some top commercial and universal banks (on the basis of available assets) in the Philippines are: Metropolitan Bank and Trust, Land Bank of the Philippines ... a financial institution and an insurance company; where banks offer insurance products through ...

AUB becomes 1st bank to launch WeChat Pay in PHL
Business Mirror - 2017-12-22
In Photo: Publicly listed Asia United Bank (AUB) has brought WeChat Pay in the Philippines, now the second-largest mobile payments system in the world, allowing Chinese tourists in the country to conveniently and seamlessly make payments using their ...

Now to offer P1B worth of preferred shares
Inquirer - 2017-12-22
Technology service provider Now Corp. has obtained board approval to raise as much as P1 billion through an offering of preferred shares, proceeds from which will fund internet services to be rolled out to residential areas and small businesses in Metro ...

BPI banks extend operations this holiday season
Inquirer - 2017-12-22
The Bank of the Philippine Islands (BPI) and BPI Family Savings Bank (BFSB) announced on Friday the extension of their branch operations during the holiday season. From December 8, 2017 to January 3, 2018, the bank advised its customers that 119 BPI ...

Udenna to buy H20 stake at P2.17 a share
Inquirer - 2017-12-22
Udenna has committed to make a tender offer to other minority shareholders, giving them the option to exit in view of the change in control and prospective change in business. The deal, however, is priced at a much lower level than the P7.45 per share ...

Bye Crown Towers, Hello NÜWA
- 2017-12-22
A new luxury hotel brand called NÜWA will soon debut in integrated gaming resorts City of Dreams Manila and Macau, replacing Crown Towers Hotel, resort operator Melco Resorts & Entertainment

Junk deals with Meralco affiliates, ERC urged
Philippine Daily Inquirer - 2017-12-22
A progressive solon urged on Friday the Energy Regulatory Commission (ERC) to junk its deals with companies affiliated with the Manila Electric Company (Meralco) after the Ombudsman suspended four commissioners of the regulatory body. "I think that ...

Mercy: A Christmas miracle
Visayan Daily Star - 2017-12-22
She was suffering from sepsis and jaundice, according to the doctor's diagnosis. The Calvary team paid the hospital bill at the CLMMRH. They immediately transferred the baby to the Pablo O. Torre Memorial Hospital (Riverside) in Bacolod City, in an ...

Seaoil partners with Caltex Australia
Philstar - 2017-12-22
MANILA, Philippines -- Independent oil player Seaoil Philippines Inc. has taken in Caltex Australia Petroleum Pty Ltd. as long-term strategic partner for its expansion program. In a statement, Seaoil said it has signed a definitive agreement that forges a ...

Security Bank, BDO announce bank schedules for Christmas holidays
Inquirer - 2017-12-21
Security Bank announced on Thursday that all of its branches would be closed on Dec. 25, Dec. 31, and Jan. 1. In an advisory, Security said that all of their automated teller machines (ATM) and online banking services would be available during the said dates.

Leisure, industrial projects to drive real estate growth
Philstar - 2017-12-21
CEBU, Philippines -- Leisure and industrial-related developments ... a tenth annually over the next two to three years," the Colliers report noted. The real estate management firm cited in particular the industrial estate to be built by diversified ...

C-5 to Cavitex road works in full swing, says MPTC
Philstar - 2017-12-21
MANILA, Philippines -- Construction of the C-5 South Link Expressway, which will connect C-5 Road to the Manila-Cavite Toll Expressway (CAVITEX), is now in full swing, according to Metro Pacific Investments Corp. (MPIC) unit Metro Pacific Tollways South.

Road project to cost 70 trees
Philstar - 2017-12-21
The project was to be developed by Fifth Avenue Property Development Corp., whose president and chief executive ... two proposed access roads that would cut through the Ciudad site. Filinvest Land Inc. was reported to finance the development of the Ciudad ...

4 more foreign firms to vie for 3rd telco slot
Philstar - 2017-12-21
Rio said the government would grant frequencies to a telco player that has the financial and technical capability to be able to truly compete with existing players Smart Communications Inc. and Globe Telecom Inc. "We would also like to be sure that the ...

Sugar output up, prices down in Dec
Philstar - 2017-12-21
MANILA, Philippines -- After almost three months, local raw sugar production has picked up as it reached 382,538 metric tons (MT) as of early-December, the Sugar Regulatory Administration (SRA) said. The current production is 5.3 percent better than the ...

Anchor Land to pursue tourism-related projects in 2018
BusinessWorld - 2017-12-21
ANCHOR LAND Holdings, Inc. on Thursday said it will be doubling its efforts to deliver more projects in 2018, as it oversees the construction of leisure developments in Boracay and Coron, Palawan, alongside more residential properties inside Metro Manila.

Palace allays fears on cybersecurity upon entry of Chinese telco
CNN Philippines - 2017-12-21
The market in the Philippines has been dominated by two players - Globe Telecom Inc. and PLDT Inc. READ: Roque: Duterte's offer of telco role to China a 'political decision' Senate President Koko Pimentel welcomed a new telco provider, saying competition ...

MetroPac Water bags P12.35-billion Iloilo project
BusinessWorld Online - 2017-12-21
Another one of its projects is the Maragondon Bulk Water Supply, a joint venture agreement with Lucio Tan-led MacroAsia Corp. in partnership with the Maragondon Water District. For water distribution, MetroPac Water owns 27% of Laguna Aquatech Resources ...

8990 Holdings completes 2 buildings in Tondo
BusinessWorld Online - 2017-12-21
8990 Holdings, Inc. is bullish on the housing market next year. -- URBAN DECA HOMES TONDO 8990 Holdings, Inc. is set to complete two buildings in its P8-billion residential project in Tondo, Manila, which the mass housing developer said would attract more ...

Seaoil partners with Caltex Australia
- 2017-12-21
CALTEX AUSTRALIA Petroleum Pty Ltd. is acquiring a 20% equity interest in Seaoil Philippines, Inc. in a deal that the local company said is intended to be a long-term partnership between the two independent oil players. “We have long sought for a strategic partner to complement our capabilities and competitive advantage, and we are optimistic …

One telco eyed for remaining frequencies
BusinessWorld Online - 2017-12-21
THE DEPARTMENT of Information and Communications Technology (DICT) is looking at allocating the remaining telco frequencies to one player or consortium of players in order to make this third party compete with PLDT, Inc. and Globe Telecom, Inc. "Before ...

Now Corp. approves follow-on offering
BusinessWorld Online - 2017-12-21
NOW Corp. has finalized the terms of its P1-billion follow-on offering (FOO), it disclosed to the stock exchange on Thursday. The listed firm said its board of directors has approved the FOO with a base size of P500 million and oversubscription option of ...

PSEi recovers as investors pick up select stocks
BusinessWorld Online - 2017-12-21
SM Investments Corp. was the most actively traded stock for ... MPIC will be joining Alliance Global Group, Inc., Filinvest Development Corp., JG Summit Holdings, Inc., Aboitiz InfraCapital, Inc., and AC Infrastructure Holdings Corp. for the proposal.

PAL pilot surprises parents on plane after being apart for 17 Christmases
CNN Philippines - 2017-12-21
A Facebook post dated December 18 by Juan Paulo Fermin, a pilot of Philippine Airlines, has gone viral and the video showing the joyful reunion with his parents has garnered thousands of views. Fermin shared on the post: "It's interesting how dreams take ...

NLEX, SCTEX sets up more toll booths for Christmas rush
CNN Philippines - 2017-12-21
The NLEX Corporation, the concessionaire of the North Luzon Expressway (NLEX) and the Subic-Clark-Tarlac Expressway (SCTEX), said on Friday that it will increase toll collection booths and suspend all roadwork until January 2, 2018 in order to facilitate ...

Meralco seeks ERC clarification on FIT
Philstar - 2017-12-21
MANILA, Philippines -- Manila Electric Co. (Meralco) is asking the Energy Regulatory Commission (ERC) to clarify that feed-in tariff (FIT) payments to renewable energy (RE) developers should be based on meters as these are being charged to consumers.

Petron spending $5 B to double Bataan refinery output in 3 years
Philstar - 2017-12-21
MANILA, Philippines -- Petron Corp. is investing $5 billion to double the capacity of its Bataan refinery in three years, its top official said. Petron president and CEO Ramon Ang said the oil refiner would expand the capacity of its refinery by an ...

Udenna dips into water business
Philstar - 2017-12-21
Udenna will also do a mandatory tender offer for the H2O shares pursuant to the Securities Regulation Code. Uy, chairman of Phoenix Petroleum, has been on a non-stop buying spree and has been aggressively growing his conglomerate. He has acquired Enderun ...

PT&T, Chinese firm to explore free Wi-Fi during disasters
Rappler - 2017-12-21
MANILA, Philippines - Newly-invigorated Philippine Telegraph & Telephone Corporation (PT&T) and a Chinese wireless network firm agreed to explore the possibility of offering free wireless broadband services during natural disasters. In a disclosure to ...

H2O buyout priced at around P2.17 per share
Inquirer - 2017-12-21
Udenna has committed to make a tender offer to other minority shareholders, giving them the option to exit in view of the change in control and prospective change in business. The deal, however, is priced at a much lower level than the P7.45 per share ...

8990 Holdings remains bullish on potentials of mass housing
Business Mirror - 2017-12-21
EXECUTIVES of 8990 Holdings Inc. on Thursday said they remain bullish on the growth prospects of the affordable housing industry in Metro Manila, as the mass-housing builder promises to spend P8 billion by 2020 on its largest development, Urban Deca Homes ...

PSBank announces holiday bank schedules
Inquirer - 2017-12-21
PSBank announced on Thursday that all of its branches would be closed but its automated teller machines (ATM) would be open on Dec. 25. PSBank said in its advisory that its 613 ATMs and online services would be available during Christmas Day to cater to ...

BANK ADVISORIES | BDO, BPI, PSBank announce holiday sked
InterAksyon - 2017-12-21
MANILA - Banco de Oro, Bank of the Philippine Islands and its daughter bank BPI Family Bank, and PS Bank have issued advisories to guide customers on their extended hours and special schedule for the busy holiday season. BDO said in a statement that ...

BANK ADVISORIES | BDO, BPI, PSBank announce holiday sked - 2017-12-21
MANILA - Banco de Oro, Bank of the Philippine Islands and its daughter bank BPI Family Bank, and PS Bank have issued advisories to guide customers on their extended hours and special schedule for the busy holiday season. BDO said in a statement that ...

7 firms to submit joint NAIA rehab plan - 2017-12-21
The consortium, composed of Aboitiz Infra Capital, Inc., AC Infrastructure Holdings Corporation ... outside Metro Manila," they said in separate disclosures to the Philippine Stock Exchange. The consortium believes this approach promotes greater economic ...

Philippines boosts cybersecurity ahead of China Telecom entry
Reuters - 2017-12-21
Duterte last month offered Beijing a chance to challenge the dominant carriers PLDT Inc and Globe Telecom Inc. He wants a third telecoms player to start operations in the first quarter next year, to break a duopoly and boost competition and service quality.

Manila Water signs P2.4-B loan deal
Philstar - 2017-12-21
MANILA, Philippines -- Boracay Island Water Co. Inc., a unit of Ayala-led Manila Water Co. Inc ... as well as refinance an existing loan," the company said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1

Aboitiz unit buying SunEdison
Inquirer - 2017-12-21
A Singapore-based subsidiary of Aboitiz Power Corp. earlier this month signed an agreement to buy all shares of SunEdison Philippines Helios BV, a unit of Dutch firm SunE Solar BV. It said in a disclosure that the offshore execution of the deed of transfer ...

Ombudsman suspends all 4 ERC commissioners for one year
Philippine Daily Inquirer - 2017-12-21
Pangilinan-led Meralco - whose Nov. 26, 2015 request for exemption from the CSP rule was originally denied on Dec. 10, 2015 - especially had one last chance to negotiate seven power supply agreements with its sister generating companies for a total ...

Pepsi PH to reformulate drinks
Inquirer - 2017-12-21
As Congress raised taxes on sugar-sweetened beverages, beverage maker Pepsi-Cola Products Philippines Inc. has decided to reformulate its soft drinks mix to avoid heftier tax starting January next year. This move was revealed after officials of Pepsi met ...

Seaoil forges strategic partnership with Caltex Australia - 2017-12-21
As part of the formation of the strategic partnership, Caltex Australia will supply fuel to Seaaoil via Ampol, its fuel sourcing and shipping business in Singapore. Seaoil has 6% total market share in the Philippines and is a pioneer in alternative fuels ...

Megawide-GMR tandem eager to start Clark Airport project
Philstar - 2017-12-21
MANILA, Philippines -- The consortium of Megawide Construction Corp. and GMR Infrastructure Ltd. of India said construction for the new terminal building of Clark International Airport would be in full swing by January, following the groundbreaking held ...

Dorsey Anti-Corruption Digest - January 2018
JD Supra - 2017-12-21
JD Supra provides users with access to its legal industry publishing services (the "Service") through its website (the "Website") as well as through other sources. Our policies with regard to data collection and use of personal information of users of the ...

Car Rams Into Pedestrians In Australia, Several Casualties; No Terrorism Link Yet
International Business Times - 2017-12-21
lying on the ground in the aftermath of the incident and others milling around them and attending to their injuries. International Business Times was not able to independently confirm the authenticity of the video. Victoria Police also asked public for ...

PLDT readies record P50 B capex for 2018
Philstar - 2017-12-21
MANILA, Philippines -- PLDT Inc. is set to spend more than P50 billion for capital expenditures next year, its highest allotment ever, as it prepares for the entry of a third telco player. PLDT chairman, president and chief executive officer Manuel V.

DOLE Family Welfare Committee gathers for year-end assembly
Philippine Information Agency - 2017-12-21
Jollibee mascot and magician Reuben Lardizabal ... the society as part of their social responsibility. GAMA Foods Inc., Nestle Philippines Inc., Ororama Supercenter, Concentrix Services Corp., Red Lemon Digital Media, Liceo de Cagayan University, Capitol ...

San Miguel expects P927-b sales
The Standard - 2017-12-20
Petron Corp., the oil unit, continued to deliver outstanding results, posting a profit of P11.8 billion, up 58 percent from last year, led by the continued focus on high-value segments and strong sales volumes in the Philippines and Malaysia. Consolidated ...

Megawide-GMR Consortium submits lowest financial bid for Clark International Airport expansion project
Philippine Information Agency - 2017-12-20
Tarlac. (Build Build Build) The Philippine Information Agency is the official public information arm of the Government of the Republic of the Philippines. It is an attached unit of the Presidential Communications Operations Office (PCOO). The PIA works ...

Megawide-GMR Consortium submits lowest financial bid for Clark International Airport expansion project
Philippine Information Agency - 2017-12-20
The financial proposal of Megawide-GMR Consortium amounted to P9.36 billion besting the proposals of China State Construction Engineering Corporation Limited, China Harbour Engineering Company Limited, Sinohydro Corporation Limited, and the consortium of ...