CONSTRUCTION NEWS
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CREATE law pushes DMCI’s earnings higher
iversified engineering conglomerate DMCI Holdings Inc. booked a record-high core net income in 2021 despite the pandemic, as it continued to benefit from a lower income tax under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law. In a statement, DMCI Holdings said its full-year core net income surged by 164 percent to PHP17.4 billion last year from PHP6.6 billion in 2020. Including a nonrecurring income of P1 billion in 2021 mostly from deferred tax remeasurement under CREATE law and nonrecurring loss of
PHP708 million mainly from sales cancellations for a real estate project in 2020. The company also saw its net income surge by 214 percent from PHP5.9 billion to PHP18.4 billion, including a nonrecurring income of PHP1 billion in 2021 mostly from deferred tax remeasurement under CREATE law and nonrecurring loss of PHP708 million mainly from sales cancellations for a real estate project in 2020. President Rodrigo Duterte signed into law on March 26, 2021 the CREATE Act to attract more investments and maintain fiscal prudence and stability in the Philippines.
Republic Act 11534 or the CREATE Act introduces reforms to the corporate income tax and incentives systems. DMCI Holdings also attributed last year’s spectacular growth to surging commodity prices, recovering electricity rates, and higher construction accomplishments. “This year, we expect extreme volatility in coal and nickel prices because of the ongoing crisis in Ukraine, economic sanctions on Russian and possible policy interventions of China and Indonesia,” DMCI Holdings chairman and president Isidro Consunji said.
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Epiroc way to optimize customers’ processes by connecting machines, systems and people using automation, information management and system integration. With 6th Sense comes a great focus on system connectivity, using interoperability to unlock the full potential of automation for production gains at lower operating costs. “6th Sense is a formula we have developed for getting the right solutions in place and achieving operational excellence in mining and infrastructure operations,” said Helena Hedblom, Senior Executive Vice President Mining and Infrastructure. “The name 6th Sense implies that the solution brings something extra and that is just what it does, providing a significant advantage such as track and respond to real-time working conditions and equipment needs.” One example of Epiroc’s focus on automated and productivityenhancing solutions comes from the Hollinger mine in Timmins, Canada. Together with long-term partner Newmont Goldcorp, Epiroc has put the world’s first fully autonomous SmartROC D65 surface drill rig in production. The operator can be positioned remotely and perform other tasks while the drill rig completes a full drill pattern autonomously. Besides increased operator safety, this boosts productivity thanks to Global Navigation Satellite System accuracy, non-stop opera-
tions and less wear and tear on drilling tools, reducing production costs and improving reliability. Another example is the new Teleremote e-tramming option for Epiroc’s popular range of Simba long-hole underground drill rigs. The automation package includes functionalities to monitor, plan and automate drilling operations from onboard the rig or from a remote location. Not only is the tramming process faster and simpler, the e-tramming function also provides a safer work environment and reduces variability in performance. “The 6th Sense approach is based on our customers’ needs for implementing digitalization, automation and new process integrations. We are continuously rolling out new innovative features, always with the customers’ needs in mind,” says Helena Hedblom, President
products – so called Scope 3 – by 2030. This is industry leading and well above SBTi’s minimum requirements. The transition from diesel-powered to battery-electric machines will make a significant impact. In addition, Epiroc’s 2030 sustainability goals also include halving CO2 emissions from transport, requiring 50% reductions of CO2 emissions from relevant suppliers, having 90% renewable energy in own operations, and offering a full range of emissions-free products, as well as ambitious targets for people. In addition to providing a growing range of battery-electric products, Epiroc’s climate actions include, among others, shifting transport from air to sea, and installing solar panels at many of its facilities. The SBTi - a partnership among the Carbon Disclosure Project, the UN Global Compact, the World Resources Institute and the World Wide Fund for Nature – is driving ambitious, sciencebacked climate action in the private sector. Epiroc presents 6th Sense, a game changer for smarter mining and infrastructure operations There is a growing need for the mining and infrastructure industries to look to digital technologies to enhance productivity, sustainability and safety. 6th Sense is the
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ISSUE 1 2022 • WWW.PHILIPPINE-RESOURCES.COM
