pinay<3pinoy

(BusinessWorld) NLEX CORP. announced Sunday its plan to start the construction of a two-kilometer expressway connecting its Mindanao Avenue toll plaza to Quirino Highway in Novaliches, Quezon City by the second half of the year.

“The construction of this new P2-billion expressway section will be welcome news for NLEX commuters who currently face daily traffic gridlock in the congested portions of Mindanao Avenue,” NLEX Corp. President and General Manager J. Luigi L. Bautista said in a statement.

“Eventually, this section will be integrated into the future NLEX expansion to C5/C.P. Garcia near Katipunan Avenue. We foresee an interconnected tollway network that will be accessible to the west, east, north, and south sides of Metro Manila,” he added.

The new project is part of the government’s Build, Build, Build program. It is also part of the 11.5-kilometer NLEX C5 Link between Mindanao Avenue, Quirino Highway, Regalado Avenue, Congressional Avenue and C.P. Garcia Avenue in Quezon City.

“It is expected to contribute to the government’s economic stimulus initiative aimed at generating more jobs and helping revive the economy amidst the pandemic,” Mr. Bautista said.

The extension project will provide an alternate route to the ports of Manila via NLEX Harbor Link all the way to the new Navotas Interchange along Mel Lopez Boulevard, or R-10.

NLEX Corp. said the entire NLEX C5 Link is expected to be used by 45,000 motorists daily and reduce travel time between Mindanao Avenue and Commonwealth Avenue to 10 minutes from the usual 45 minutes.

NLEX Corp. is a unit of Metro Pacific Tollways Corp., itself the tollways unit of Metro Pacific Investments Corp., one of three key Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT, Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls… Read More

(BusinessWorld) A UNIT of Solar Philippines is preparing to build a 225 megawatt (MW) solar facility in Peñaranda, Nueva Ecija, which the parent firm described as the “largest of its kind” in the country to date.

In a statement Sunday, Solar Philippines said its wholly-owned unit Solar Philippines Nueva Ecija Corp., is undertaking the project, which is expected to provide 5,500 jobs during construction and operations.

“This is representative of the rest of our pipeline of projects, which were not viable historically, but are viable today with the lower cost of solar and storage,” Solar Philippines Founder Leandro L. Leviste said.

“When we began developing this project in 2016, others didn’t believe that large-scale solar would be viable. Because we made this bet then, we now have projects ready to meet the country’s gap in power supply,” he added.

Solar Philippines said it is keeping its off-take options open for the project, adding that the 225-MW facility can sell its output to the wholesale electricity spot market when demand is highest.

It said the project will augment the Luzon grid’s reserves and prevent rotating outages which hit portions of the island earlier this month after a series of red and yellow alerts.

The company, which was founded in 2013, signaled its direction last year to embark on a series of deals with power companies to complete its pipeline of over 10 gigawatts (GW).

In December, Solar Philippines announced plans to build over 1 GW of projects in Batangas, Cavite, Nueva Ecija and Tarlac in 2021… Read More

(PhilStar) MANILA, Philippines — Jollibee Foods Corp. is targeting to open 500 stores next year, similar to its pre COVID-19 store opening numbers.

“In 2022, we expect to open at least 500 stores, similar to how we were prior to the pandemic and even higher in succeeding years,” said Jollibee Group

president and CEO Ernesto Tanmantiong during the company’s annual stockholders meeting.

Tanmantiong said the Philippine business would account for 50 percent of JFC’s business within the next three years from close to 40 percent at present, consistent with its target to have a 50-50 ratio between Philippine and foreign operations.

He said the company had shown remarkable recovery, starting in the fourth quarter of 2020 and continued its momentum in the first quarter this year.

Tanmantiong expects the business to continue to recover in the months ahead and further grow in 2021 with the opening of 450 stores.

At the end of March, the Jollibee Group generated an operating income of P1.5 billion representing a significant recovery from the operating loss of P1.2 billion in the same period of last year.

“Most of our businesses abroad are reaching sales at pre-pandemic levels. In March 2021, our sales in China, North America, and EMEAA (Europe, Middle East, Asia and Australia) including Vietnam, were already equal to or higher than March 2019 levels,” said Tanmantiong.

The Jollibee Group saw a return to profitability in the fourth quarter with the Philippines, China, North America Philippine Brands, and EMEAA including Vietnam generating recurring profit.

In terms of specific brands, the Coffee Bean & Tea Leaf® (CBTL) is already recovering strongly in Asia, particularly in Singapore and Malaysia where it has company-owned stores.

For this year, the Jollibee Group will invest P12.2 billion to continue its expansion. This is JFC’s highest capex spending in its history.

In 2020, the company’s store network expanded organically with the opening of a total of 338 stores – 81 in the Philippines and 257 abroad… Read More

(BusinessWorld) The Philippines’ National Economic and Development Authority (NEDA) agreed to the findings of a 2020 study funded by the German development organization GIZ that the Philippines needs to address the problem of internal migration, including in relation to the “slow-onset” impacts of climate change.

The study, conducted by the United Nations University and the Ateneo de Manila University, found that slow-onset effects of climate change, which occur over a longer period of time than sudden-onset effects such as strong typhoons, are degrading people’s livelihood and may drive them to migrate internally or to other areas in the country to look for other sources of income.

For example, the study pointed out that farming productivity is slowly declining in some areas in the country due to changes in weather patterns.

One research participant from Maypangdan, Borongan, Eastern Samar province said they “used to be able to expect the arrival of the northeast ‘amihan’ monsoon and the southwest ‘habagat’ monsoon in certain months, but they no longer follow their usual patterns.”

As such, she said it is harder for her and the other farmers in their area “to know when the harvest will be, especially those that do not have access to irrigation systems.”

“Some would plant their seeds expecting rains in December but only to witness sunny days…. Events like these make sustaining livelihoods very difficult,” she added.

Another respondent from Sulop, Davao del Sur province said the people in their area now harvest only once a year from four times a year in the past as “the high temperature leads to crop failure.”

After the study findings were presented at the 2021 Internal Migration and Development Summit on June 16 to 18, NEDA Cordillera Administration Region (CAR) assistant regional director Stephanie F. Christiansen said “(w)e agree with the observation on the absence of a policy framework that provides the authority and mandate, as well as necessary resources, to address human mobility or immobility and climate change.”.. Read More

(CNN Philippines) — United States President Joe Biden on Friday offered his condolences to Filipinos and the family of late former President Benigno Aquino III.

He underscored the late chief executive’s commitment to peace and rule of law. He also highlighted Aquino’s success in his economic reforms during his term from 2010 to 2016.

“President Aquino’s steadfast commitment to advancing peace, upholding the rule of law, and driving economic growth for all Filipinos, while taking bold steps to promote the rules-based international order, leaves a remarkable legacy at home and abroad that will endure for years to come,” he said in a statement.

He added, “I greatly valued our time working together.”

Biden served as the vice president of Barack Obama during Aquino’s six-year term.

Aquino died on Thursday at age 61 from renal disease, secondary to diabetes… Read More

(SunStar) (UPDATED) Former President Benigno Simeon “Noynoy” C. Aquino III, 61, was laid to rest with full military honors shortly before 2 p.m. Saturday, June 26, 2021.

The urn containing the cremated remains of Aquino was interred beside his parents, the late former senator Benigno “Ninoy” S. Aquino Jr. and the late former President Corazon “Cory” C. Aquino, at the Manila Memorial Park.

Lingayen-Dagupan Archbishop Socrates Villegas, in his homily during the funeral mass for Aquino Saturday morning, described the former President who was also known as PNoy as a “brave, headstrong visionary” whose focused vision was the rule of his leadership.

“PNoy died as he lived. He served without fanfare. He abhorred power trappings and power tripping. He slipped away quietly as much as possible disturbing no one. Walang wang-wang, very PNoy and not surprising,” Villegas said.

He hoped that Aquino’s “death will spark another fire within us to resurrect his example of decency and integrity.”

Villegas, a former president of the Catholic Bishops Conference of the Philippines, urged Filipinos to take notice of what is happening in the country.

“Eulogies have been written and spoken and shared. But the best eulogy tribute we can pay to our dear President Noy is to bring back, recover, preserve, safeguard and never again to compromise our dignity as a people and the decency of our leaders as servants, not bosses,” Villegas said.

“The flags at half-mast are not only for the dead President, but for the dying decent governance. Tayo ang boss n’ya. He lived by it. We are grateful for it,” he added.

Aquino was the 15th President of the Philippines, serving from 2010 to 2016.

He died in his sleep as the sun rose on June 24, 2021. His family later announced that his death certificate traced his death to renal disease secondary to diabetes.

During his administration, the Philippines stood up to China and won an arbitration ruling that dismissed China’s nine-dash claim over the South China Sea.

He was charged over the Mamasapano bloodbath that killed 60 people, including 44 Special Action Forces men. But the Supreme Court cleared him of all charges.

His administration was also criticized over its handling of the aftermath of the Supertyphoon Yolanda (Haiyan) in November 2013 and the Dengvaxia controversy that erupted in December 2017.

A funeral mass was held for Aquino Saturday at the Church of the Gesu inside the Ateneo de Manila University, where public viewing of the urn containing his remains was held Friday, June 25. ADMU is the alma mater of Aquino… Read More

(PhilStar) MANILA, Philippines — 8990 Holdings Inc., the listed mass housing company, reported a 16 percent decline in net income in 2020 to P4.8 billion.

Nonetheless, the company said this was still a respectable performance amid the challenges brought by the ongoing pandemic and various levels of community quarantines, “with fiscal year 2020 revenues dropping a mere eight percent to P14.2 billion.”

8990 Holdings chairman Mariano Martinez Jr. said this reflects the resilience of the country’s mass housing segment where the company is the leading player.

“The buyers of our units are mostly end-users, and we know that the country still has around five to six million housing backlog. This is why we continued to generate sales from supervisors and managers of various companies, as well as the spouses of overseas Filipino workers despite the effects of the pandemic,” Martinez said.

Real estate sales recorded a 5.5 percent drop to P14.17 billion last year.

The number of units sold during the year even exceeded the 2019 level by two percent, with 2020 sales hitting 12,178 units.

In terms of the number of units delivered, the company counted 9,951 homes delivered in 2020, with Luzon accounting for the largest revenue contribution with P9.07 billion of sales, followed by Visayas with P3 billion, and Mindanao with P2 billion.

In terms of units sold, Luzon still led sales, selling 5,267 units followed by Visayas with 2,735 units sold, and Mindanao with 1,949 units sold.

However, due to the restrictions caused by the lockdowns, housing production decreased by 32 percent to 9,669 units… Read More

(GMA News) Another police officer succumbed to the coronavirus disease 2019 (COVID-19), bringing the death toll in the organization to 73, the Philippine National Police said Saturday.

Meanwhile, the total case count rose to 27,456 after 184 more personnel tested positive for the virus.

Likewise, the PNP announced that total recoveries climbed to 25,618 with 100 new survivors.

At present, there are 1,765 active cases within the agency.

The Philippines has reported 1,391,911 confirmed cases, of which 1,314,220 have recovered and 53,447 have died… Read More