BY ROER M. BALANZA
Tag Archives: Business
Davao trade mission to Singapore in July
Davao City is sending a team to Singapore in July to sell the city and lure foreign workers’ investments.
The mission would also discuss resumption of direct flights by Singaporean flag carrier Tiger Airways, which had stopped for lack of traffic volume.
The trade mission would also sell the city as an excellent investment area for information and communications technology industry and property development, said Jason C. Magnaye, chief of the Davao City Investment and Tourism Promotions Center and the City Tourism Operations Office.
Davao City has been chosen by the Singapore Tourism Board as among tourist destinations in the Southeast Asian region to be visited by Singaporeans. In a recent mission here, officers of the board proposed trade and tourism exchanges between the island state and the city.
DAVAO CITY ABREEZA PROJECT INVESTMENT ZOOMS UP TO P8 Billion
BY ROGER M. BALANZA
After pouring P6 billion in the Davao City Abreeza-Ayala project, Ayala Land Inc. is pumping in another P2 billion into its joint venture with Anflo Investment and Management Corp., said Antonio N. Aquino, Ayala Land president.
The mixed-use project, started in 2010 and rising on a 10-hectare lot in business district Bajada, is the single biggest investment in property development today in Davao City.
“We believe in the capacity of the Ayala group in implementing a project this big,” said Antonio R. Floirendo Jr., Anflo vice chairman.
Anflo has also partnered with Ayala in the P6 billion Centrio mall project in Cagayan de Oro City which will open next year.
The initial fund of P6 billion built the Abreeza Mall, Mindanao’s largest that was opened last year, in the property in JP Laurel Avenue.
The additional P2 billion would be spent for the building of two condominium towers, Abreeza Residences and Abreeza Place, said Aquino at a recent press conference during the second anniversary of the project.
Abreeza Residences and Abreeza Place, including the 186-room 11-storey Kukun Hotel, are the residential components of the project.
“We believe in the capacity of the Ayala group in implementing a project this big,” said Antonio R. Floirendo Jr., Anflo vice chairman.
Anflo has also partnered with Ayala in the P3 billion Centrio mall project in Cagayan de Oro City which will open next year.
The Ayala-Floirendo tandem announced this week the structural component of the Kukun Hotel has been completed.
The Davao City Kukun hotel is the second Kukun Hotel in the Philippines after Fort Bonifacio in the national capital.
New export markets for Philippine bananas eyed
WHAT ABOUT US!
DAVAO CITY — The Philippines is looking at other potential buyers for bananas.
DAVAO BANANAS ROTTING IN CHINA
This, after President Benigno Aquino III directed the Department of Agriculture (DA) to find other export markets for the Philippines’ Cavendish bananas after China imposed more stringent quarantine requirements on the fruit.
“We have to look for other export markets. It is important to diversify to ensure our hands are not tied to the decision of just one country,” the President said amid speculation that China imposed stricter rules on Philippine bananas amid its territorial dispute over the Scarborough Shoal.
Agriculture Secretary Proseso Alcala, at the sidelines of his dialogue with farmers in the region on Tuesday, said they are looking at Singapore, Hong Kong, Cambodia, Korea, North Asia, Middle East countries, Europe and the United States for expansion of the country’s banana exports.
China is the country’s second-largest banana market after Japan with total shipments worth US$ 470.96 million last year.
Bananas are also the Philippines’ second-largest agricultural commodity export after coconuts.
Reports said some 150 containers were refused entry by Chinese quarantine personnel, citing alleged “scale” insect infestation.
The refusal has cost Philippine banana growers at least US$ 760,000 in rotting produce.
Alcala, however, said the country has no scale insect problem.
But just the same, he said he will be sending a technical team to be led by Bureau of Plant Industry (BPI) director Clarito Barronto to China to inspect the remaining 89 containers, alongside Chinese quarantine officials.
“This week po mayroong isang team tayo na papupuntahin sa China at magdadala po sila ng credential para kaharap sila (Chinese) sa pagbubukas ng ating mga produkto sa exports. Pero, at the same time, kasama ang imbitasyon naman natin sa kanila para pumunta ang delegasyon dito at i-check po nila ‘yung protocol natin. Ang importante po dito mai-prove natin na ang mga produktong iniluluwas hindi lang po sa China kundi sa ibang bansa man ay wala pong peste,” the DA chief noted.
“We are now working closely with China to resolve this regulatory issue,” he added. (PNA)
Floirendo group to build P2 billion Davao international container terminal
STILL GOING STRONG! Banana magnate Don Antonio Floirendo, Sr., and his Anflocor conglomerate continue to be a major factor in the Davao Region economic development with investments in almost all spheres of business activity, the latest of which is the P2 billion Davao international container project. The business genius and political kingpin is seen here in a huddle with Tagum City Mayor Rey Uy and Tagum Archbishop Wilfredo Manlapaz in a 2009 photo by JimTanNuevo.
NO. 104, Apr 16-22, 2012
BY ROGER M. BALANZA
THE Anflo Management and Investment Corporation and San Vicente Terminal and Brokerage Services Inc. have finalized the P2.1 billion loan facility for the Davao International Container Terminal project.
The two companies sealed the syndicated facility with Bank of the Philippine Islands (BPI) and Security Bank in a signing ceremony held last April 2 at the Marco Polo Hotel Davao.
Gracing the signing ceremony for the loan facility for Davao International Container Terminal are (seated l-r) Ricardo R. Floirendo, Senior Vice President of ANFLOCOR, Alberto S. Villarosa, President of SB Corporation, Antonio Floirendo, Jr., Vice Chairman of ANFLOCOR, Aurelio R. Montinola III, President of BPI, Vincent R. Floirendo, Vice President of ANFLOCOR, Cecilia L. Tan, President of BPI Capital Corporation, (standing l-r) Luis Martin E. Villalon, Director of SB Capital Investment Corporation, Federico C. Galang III, Executive Director of SB Capital Investment Corporation, Victor Q. Garcia, Vice President of BPI, Loretta G. Mangilit, First Vice President of SB Corporation, Oscar V. Grapa, Chief Financial Officer of ANFLOCOR, and Barbara C. Untalan, Vice President of BPI Capital Corporation.
“We are very glad that Bank of the Philippine Islands and Security Bank believe in this project and welcomed to facilitate the financial requirements of the Davao International Container Terminal,” Anflocor chief financial officer Oscar V. Grapa said.
The deal was arranged by BPI Capital Corporation and SB Capital Investment Corporation.
“BPI sees the immense value of the project to Davao’s economy in being able to create jobs, translate to substantial logistics savings, and to promote the global competitiveness of Davao’s banana export industry,” BPI president Aurelio R. Montinola III said.
THE DURIAN POST NO. 104
SB Corporation president Alberto S. Villarosa also noted the positive impact of the project to the economic growth in the Davao Region.
“We thank the management of Anflocor Group for entrusting the financial part of the project to both BPI and Security Bank,” Villarosa said.
The eight-hectare container terminal aims to support Mindanao’s expanding international banana exports by providing progressive container port services. It will feature modern ship to shore cranes, expansive plug-in facilities and an average draft of 15.5 meters which can accommodate large international vessels.
Davao International Container Terminal is also projected to support the position of the Philippines as the third largest exporter of cavendish bananas in the world, which local industry is concentrated in Mindanao.
US, Indian BPOs locating in Davao City
Four large multinational Business Processing Outsourcing (BPO) companies from the United States and India would be establishing branches in Davao City, said Bert Barriga, vice president of the Information and Communication Technology (ICT) Davao.
He said talks are ongoing between ICT-Davao and the investors who are behind the “biggest call centers in the world.”
The new entries in the BPO-IT industry in Davao would add up to about 18 large and small BPOs now operating in the city.
Barriga said the US and India being lured to the city could be an offshoot of its being tagged as a top location for BPOs in Asia.
The BPO industry in the city has been growing since two years ago after it was identified by international BPO players as belonging to the next wave of Asian cities for BPOs.
Davao City leads start of BIMP-EAGA revival
Special Report
BY ROGER BALANZA
Davao City is playing savior to an ambitious multi-country project launched in 1992 that aimed to position the Asean Region as a subregional economic power that should matter in world economy.
The Brunei-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP EAGA) has been in the doldrums since its launch ten years ago in Davao City during the term of then President Fidel Ramos.
The grand launch was attended by ministers of the member countries in what is then the biggest economic story of the region trying to catch world attention to its potentials as an economic player.
President Ramos–behind the BIMP-EAGA concept— and then Davao City Mayor Rodrigo Duterte (now the vice mayor) represented the Philippines in the historic event.
BIMP-EAGA was a crucial element to Davao City’s march to progress. Mindanao’s premier city had been chosen for the launch, and as the Philippine hub of the subregional economic grouping. The city hosted several ministerial meetings prior to the launch that establiished foundations for the concept.
Optimism over BIMP-EAGA as a vehicle for economic cooperation, however, nosedived as the Asian economic flu swept the region in the mid-90s and as Ramos left the presidency.
The financial crunch that shook member-countries’ economies sent the BIMP-EAGA concept to temporary coma.
Ministerial meetings have since been made since three years ago as BIMP-EAGA leaders pick up the shattered pieces with aim to revive the economic pact concept of Ramos, a strong advocate of Asean economic cooperation as a vehicle for regional peace and progress.
BIMP-EAGA is making slow strides to get itself out of the doldrums, starting with strengthening of air links for stronger trade and tourism ties before it spreads its wings to sell itself to the world.
Davao City this week hosted one such endeavor.
The two-day BIMP-EAGA First Equator Asia Air Access forum, Airline CEOs Summit in Davao City held on April 18-19, 2012, brought together senior leaders of the member countries, airport authorities, airlines, and the tourism industry in order to develop more access and manage relationships with gateways and destinations in the region.
Equator Asia is the BIMP-EAGA’s tourism brand.
The 1st Equator Asia Air Access Forum discussed the different countries’ presentations on international gateways in BIMP-EAGA, the market outlook and business prospects of airline companies in the region, and the promotion and marketing of BIMP-EAGA priority destinations and routes.
‘Water taxis’ to start serving Davao City-Igacos route
PHOTO BY MORIE AGUILAR
BY JOANNA C. BALANZA
Two units of high-speed water axis will start ferrying passengers to and from Samal Island after the Maritime Industry Authority (Marina) would have approved the franchise to operate of Davao Express Water Taxi Inc.
Company manager Jheannie Lava Callao, said the water taxis would sail off from Sta. Ana Wharf, Sasa Wharf, Lanang and Water Insular Hotel to any point in the Island Garden City of Samal (Igacos).
“Hopefully, we will be operational next week,” Callao said.
If the passenger load is good, we will be adding three more units, said Callao of the taxis that run on maximum speedof 22 miles per hour. The company has invested P10 million into the venture, the first of its kind in the country and considered as “pioneering investment” by the Board of Investments.
Lapanday 200-hectare ‘mini-city’ to rise in Davao City
BY ROGER M. BALANZA
Lapanday Properties Philippines, Inc. (LPPI) of the Lorenzos is transforming its former 200-hectare banana plantation here into a master-planned large-scale integrated mixed-use township development.
Lapanday presented in a press conference here recently the project dubbed Ciudades, an ambitious project that would build what could be a mini-city in Mandug, about 20 hectares from downtown.
Marcelino Roldan Manalili, president of Ingenue Property Concepts and Marketing Corp., marketing arm of LPPI, said Ciudades is a ‘signature project’ never been before in Davao City.
We expect Ciudades to change the real estate landscape in the city, he said.
Manalili said Ciudades would answer the city’s needs in business, commercial, leisure, residential, and institutional expansion requirements.
First phase of the project is the ongoing development of housing communities such as Las Palmas Verdes, Nizanta Homes and soon to be launched Altea Homes. After the launching of the residential component, Ciudanes will go into its second phase, which is the development of the 20-hectare First Mindanao Business and Industrial Park (FMBIP). This component is set to develop Davao City as a premier business and industrial hub, Manalili said.
Ingenue Property marketing director Maria Angela Zalazar said FMBIP was earmarked as a Business-Industrial-Residential-Estate (BIRE).
BUSINESS & TOURISM PAGE – DURIAN POST NO 97 – SPONSORED BY SAGITTARIUS MINES, INC (SMI), EMARS HOTEL WAVEPOOL and RDL PHARMACEUTICALS
