Lorenzo Tan
Lorenzo Tan of the Rizal Commercial Banking Corporation (RCBC) has been appointed as the president of Bankers Association of the Philippines (BAP).
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Month: April 2013
Investment pledges in Philippines hit a new high
According to the National Statistical Coordination Board of the Philippines, the approved foreign investment in the country is PHP 289.1 billion, an increase of 10 per cent from the PHP 258.2 billion recorded in 2011. The...
Read MoreNTC buys equipment to regulating telecom operators’ performance
The Philippines’ National Telecommunications Commission is in the process of acquiring equipment to monitor operators’ service performance in the following areas: ability to process text messages, service delivery, and customer...
Read MoreZamboanga Water District plans projects worth PhP 636 million for 2013
The Zamboanga City Water District has approved water projects worth PHP 636 million, to be implemented during 2013: the continuing rehabilitation and replacement of old lines (worth PhP 500 million); and the construction of a...
Read MorePNOC dissolves its shipping subsidiary
The Philippines government has decided to dissolve the shipping unit of the Philippine National Oil Company, PNOC Shipping and Transport Corporation, which has been suffering heavy losses. Recently, PNOC Shipping failed to bag...
Read MoreExpansion of Clark International Airport scheduled to begin in May 2013
Expansion work at the Clark International Airport in Pampanga, entailing the construction of a new passenger terminal, is expected to start in May 2013. The government is spending PHP 360 million to expand the airport’s existing...
Read MoreMegawide partners with GMR to bid for MICA expansion
Philippines-based Megawide Construction Corporation has reached an understanding with India-based infrastructure developer GMR Group to bid for the expansion of the Philippines’ Mactan-Cebu International Airport (MCIA). The...
Read MoreDOE awards five hydro contracts to SARPC
Project developer Southeast Asia Renewable Power Corporation (SARPC) has secured five service contracts for hydropower development from the Department of Energy in Luzon. The contracts include the 1.5 MW Malecom river hydropower...
Read MoreNGCP to complete Southern Panay Backbone Transmission Project by end-2013
Meanwhile NGCP plans to complete the Southern Panay Backbone Transmission Project by end-2013. The PhP 1 billion project was started in October 2010. Under the project, the company will set up new transmission lines to...
Read MoreNGCP to build PhP line for wind projects
The National Grid Corporation of the Philippines (NGCP) will put up a new 230 kV line from San Esteban, Ilocos Sur, to Laoag, Ilocos Norte, to support the construction of wind projects in the area. The project is expected to...
Read MoreMeralco and FPC’s JV completes acquisition of Singapore-based LNG plant
Philippines-based power distribution company Manila Electric Company (Meralco) and Hong Kong-based First Pacific Company (FPC) have concluded their 70 per cent equity acquisition of GMR’s 800 MW LNG-fired power plant in...
Read MoreDOE may cancel BHP’s SC 55 on failing to comply with contractual obligations
The Philippines’ Department of Energy (DoE) may suspend or cancel Service Contract (SC) 55 that had been awarded to the consortium of BHP Billiton Petroleum, Trans-Asia Oil and Energy Development Corporation, and Otto Energy, if...
Read MorePLDT in talks with foreign partners for joint bidding for a licence in Myanmar
According to reports, the Philippine Long Distance Telephone Company (PLDT) is in talks with potential foreign partners to put forth a joint bid for a licence in Myanmar. The tender for two new telecom operators in Myanmar was...
Read MoreToyo-Thai to start large-scale power generation in Myanmar
Toyo-Thai, the Thai subsidiary of Japan-based Toyo Engineering Corporation, will construct a new 1,000 MW coal-fired power plant to supply electricity to Yangon and the Thilawa industrial zone nearby. The company intends to...
Read MoreMyanmar to launch offshore oil, gas bidding round by end-April 2013
The Myanmar government plans to launch the bidding of 30 offshore oil and gas blocks by end-April 2013. It had initially planned to put the blocks on offer in 2012, but the bidding round was postponed amidst concerns from...
Read MoreDialog Axiata gets nod for its bond issue
The Axiata Group’s Sri Lankan arm, Dialog Axiata, has received approval from the Securities Commission Malaysia to establish a sukuk (Islamic bond) programme. Proceeds raised from the bond issue will be used to meet Dialog’s...
Read MoreTM’s Cahaya Malaysia system becomes fully operational
Telekom Malaysia’s submarine cable system, Cahaya Malaysia, has become fully operational. While the cable connectivity to Japan and Hong Kong went live in August 2012, the last leg of the submarine cable system was completed in...
Read MoreTelecom regulator penalises operators for improper prepaid registrations
The Malaysian Communications and Multimedia Commission has issued penalties amounting to RM 920,000 to six operators for failing to properly register user information for prepaid accounts: Celcom Axiata (RM 400,000);...
Read MoreMalacca plans investment of upto RM 612 million for upgrading and building roads
The state government in Malacca is allocating RM 612.3 million for the upgradation of the existing road network and the construction of new ones. The allocation would be used to fund 73 road infrastructure projects within the...
Read MoreAlcatel-Lucent to provide communications system Kelana Jaya line extension in Malaysia
Alcatel-Lucent is delivering a communication system for the new light rail network extension of the Kelana Jaya line in Malaysia. The system will facilitate high speed voice, data, and video traffic, as well as deliver essential...
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