Business
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MONDAY, AUGUST 29, 2016 extrastory2000@gmail.com
More firms eye solar projects By Alena Mae S. Flores
M
ORE comnpanies have expressed interest to put up solar power plants with a combined output of 2,916 megawatts, documents from the Energy Department showed over the weekend. The bulk of the pending applications, or 2,030.40 MW, are proposed in Luzon, followed by Visayas at 708 MW and Mindanao at 177 MW as of June 30. The large projects in Luzon pending approval from the department include the 100-MW
Magsingal solar power station of Neoenergy Corp. in Ilocos Sur province. Also pending are the 100-MW Sual, Pangasinan solar power project, the 100-MW Sison-Binalonan-San Manuel Pangasinal station of Solar Philippines Com-
mercial Rooftop and another 100 MW from Solar Power Utilities Generator Corp. in Pampanga. Other pending applications are the 120-MW Bacolod City solar power project of Asian Solar Options Corp. in Negros Occidental, 70-MW Cadiz City Solar plant of Pentre Al Sol Inc. also in Negros Occidental, 100-MW San Miguel of Sunpalo Solar Energy inc. in Leyte and 60-MW Manolo Forthich of Pilipinas Crosthwait Energy Corp in Bukidnon. The department, however, not responded to the request of the National Renewable Energy Board to install an additional 500
MW of solar and 500 MW of additional wind capacity. Energy officials earlier said a thorough study of the proposal was needed due to the impact of the power rates of consumers. The Energy Regulatory Commission, meanwhile, has asked grid operator National Grid Corp. of the Philippines for operational data of solar companies that were given endorsements by the department for feed-in tariff eligibility. The move is part of the regulator’s ongoing evaluation of the applications of solar for certificate for feed-in tariff.
“The Commission requests for operational data of solar power plants, particularly the power generated and actually delivered by RE power plants to the transmission and/or distribution network,” ERC chairman Jose Vicente Salazar said in a letter to National Grid president Henry Sy Jr. Salazar said the data should cover a six-month period from the date of commercial operations of 24 solar power plants with total capacity of 525.95 MW. The ERC requested the operational data for the following
companies: San Carlos Energy Inc. phase 1 (13 MW), San Carlos Energy phase 2 (9 MW), Raslag Corp. phase 1 (10 MW), Energy Development Corp. (4.1 MW), Philippine Solar FarmLeyte Solar Power Plant (30 MW), Solar Philippines Commercial Solar Rooftop Project (1.5 MW) and San Carlos Solar phase 1C and 1D (23 MW). Some solar developers earlier asked the ERC to look at the bases for the Energy Department’s endorsement of certificate of eligibility under the first and second wave of installation target totaling 500 MW.
PAL gets $38-m loan from Taiwanese bank By Darwin G Amojelar PHILIPPINE Airlines borrowed $38 million from one of the largest commercial banks in Taiwan to partly finance the purchase of a new aircraft. The airline, owned by tycoon Lucio Tan, signed a syndicated term loan with Cathay United Bank Co. Ltd. PAL received its sixth Airbus A321 on Saturday. The A321 is the largest member of the best-selling A320 Family, which has the lowest seat mile costs of any single aisle aircraft. As with other members of the A320 Family, the aircraft offers a wider cabin than competing single aisle products, with wider seats, a wider aisle and more personal space. The list price of A321 is $114.9 million. The airline will operate its new A321s primarily on international routes across the Asia, as well as on selected domestic flights. PAL earlier signed a deal with Airbus to acquire six A350-900 jets worth $1.8 billion, with an
option to buy six others to support its long-haul operations. PAL plans to deploy the A350 XWB (extra wide body), which seats more than 300, on new routes to North America and Europe. The first A350 is scheduled to be delivered in 2018. Its parent firm, PAL Holdings Inc., posted a comprehensive net income of P4.62 billion in the January-to-June period from P5.94 billion in the same period last year. PAL Holdings in the second quarter reported a total comprehensive income of P1.92 billion, down 11 percent from P2.16 billion last year. Revenues in the six-month period reached P57.57 billion, up 2.3 percent from last year’s P56.28 billion. Total earnings in the second quarter amounted to P28.45 billion from P28.30 billion last year. PAL Holdings atrributed the increase mainly to the depreciation of the peso, which averaged at P47.19 per $1 in the first half from P44.55 year-on-year.
ENERGY PLAN. Department of Energy officials present their new plans to stakeholders in a forum organized by the Stratbase ADR Institute
and consumer advocate Citizen Watch on August 25, 2016 in Pasig City. Shown are (from left) Tim Guanzon, senior policy advisor SSG Advisors, LLC; RP Manhit, chief operating officer of Stratbase; Oscar Reyes, president of Manila Electric Co.; Debora Layugan, director of market operations, Energy Regulatory Commission; Rep. Lord Velasco, Committee chairman on Energy, House of Representatives; Energy Undersecretary Wimpy Fuentebella; Sen. William Gatchalian, Senate committee chair on energy; Richie Ramos, assistant secretary and spokesperson of DoE; Jay Layug, former energy undersecretary; Efren Cortez, committee secretary of Committee on Energy; Ernest Leung, treasurer, Foundation for Economic Freedom; William Pamintuan, senior vice president of Merlaco; and Kaye Clemente, executive director of Stratbase-ADRi.
BSP not likely to increase interest rates By Julito G. Rada BANGKO Sentral ng Pilipinas sees no compelling reasons to tweak the current monetary policy stance, even if the US Federal Reserve decides to increase interest rates later this year, because of a manageable inflation environment, Governor Amando Tetangco Jr. said over the weekend. US Federal Reserve chairman Janet Yellen on Friday said the case for a rate hike became stronger, citing a lot of new jobs were being created and US economic growth would likely to be sustained. “The Fed chair’s statement is more or less as expected, well balanced and nuanced. The BSP will not necessarily have to move in sync with the Fed
should they indeed hike either in September or December as the Fed chair’s comments indicate that they are getting closer to their next move,” Tetangco said in a text message. “Our current inflation outlook continues to be manageable,” Tetangco said. The average inflation in the first seven months of 2016 settled at 1.4 percent, or below the Bangko Sentral’s target range of 2 percentto 4 percent for 2016. However, Tetangco said local monetary authorities would remain mindful of the possible some near-term financial market volatility as markets react to the Fed statement and rebalance dollar holdings. “Nevertheless the BSP has tools to keep market volatility in check. We will continue to monitor develop-
ments including changes in tax levies and weather-related disturbances that could impact on domestic price and demand dynamics, and make adjustments to our monetary policy stance as appropriate,” he said. The Fed raised rates in December last year, the first time in nearly a decade, and projected another four increases this year. But it scaled that projection back to two amid a global growth slowdown, financial market volatility and uncertainty in meeting its 2 percent inflation goal. The Monetary Board, the policymaking body of Bangko Sentral, on Aug. 11 kept the benchmark interest steady due to the manageable inflation environment and sustained domestic economic growth.
200TH 7-ELEVEN OUTLET.
Cebu franchisees of 7-Eleven celebrate the opening of its 200th outlet. The store opening marks the company’s strategic expansion campaign for 2016 in the Visayas region. At the store opening are Kristine Louise Yap (regional planning team leader), Andrew Bravo (business development section manager), Councilor Cynthia Remegio, franchisee Nicole Caparas, Gil Abad (regional operations manager), Councilor Kevin Cabahug, franchisee David Jose Caparas, and Prudencio Padlan Jr. (design and construction manager).
Govt body offers help to small exporters By Othel V. Campos THE Export Development Council plans to improve the capability of exporters to overcome non-tariff measures, including those concerning sanitary and phytosanitary standards, fumigation testing and labeling requirements. The EDC’s technical working group on non-tariff measures met recently to find ways to boost the export competitiveness of micro, small, and medium-sized enterprises stymied by burdensome non-tariff measures.
MSMEs have pointed out the scarcity of fumigation companies in the Philippines. They cited one region where a lone fumigation company serves the needs of the whole area and the lack of competition that allowed the firm to monopolize business and impose high prices. The working agreed to make fumigation a more viable business in the country. It also seeks to engage the Fertilizer and Pesticide Authority to map all fumigation establishments to identify
gaps and spread out their presence, especially in the countryside. On labeling concerns, especially on the varied requirements over language, font size, and text location, the group committed to work in promoting greater access to information on market destinations, including tapping the services of commercial attaches. Other recommendations include enhancing training and guidance programs for MSMEs on correct labeling, setting up an institution to help in compliance and improving exporters’ access to official and technical translations.
Termination Blues WHEN you are hired as warning that repetition an employee, you must of the same offense will sign a contract with the be dealt accordingly JOAN CARLA E. company to secure your with higher penalty. ESTEPA rights. You then protect Failure of the REEN IGHT employee to respond yourself from any unlawful actions that positively to the first and the company may impose on you. For second reprimand results in suspension example, if you are illegally dismissed, without pay. If the employee continues you can file a case against your employer. to defy the policies, rules and standards If you win, all your legal fees and damages of performance of the company despite will be compensated by your employer. repeated warnings and suspension, he The right to know may be terminated from employment. When you are being dismissed at Likewise, any employee who committed work, you may feel that you are unfairly grave or serious offense shall be judged by your employer if the process terminated even for a single violation of of your dismissal is not properly handled the company rules and regulations. and discussed with you. You may take Life after termination it negatively and this leads to anger and In the US, outplacement counselling hate toward your employer. However, is available for employees who will be if the methods and procedures of your dismissed. I am not even sure if there are dismissal are consistent, unbiased, companies in the Philippines who offer accurate, correctable, representative and such services. It is basically a service ethical, your reaction will be positive offered to help employees who will be and you can willingly accept it. As an dismissed at work to prepare themselves employee, you have the right to know to get a new job. This service offers the details why you are being dismissed career counselling, job search support, at work. resume critiques, job interviewing As an employer, terminating an training and provision of networking employee with the application of the six opportunities. determinants of procedural justice may However, I question the effectivity help the employee and make the situation of outplacement counselling. This a little lighter and in a positive manner service aims to help employees to still where the employee will not feel being believe in themselves and be confident unfairly judged by the management and that there are better opportunities for he will willingly accept his dismissal. them outside the company. They may Being mindful and sensitive be assured that their skills are needed Terminating an employee has to be by others, but not the company they are explained well and implemented in currently serving. a socially sensitive, considerate and True enough, counselling may lead empathetic manner. Employers have to be employees to realize that they have to mindful and sensitive about the situation work on themselves and improve their and the outcome of the dismissal. They skills and attitude, so that the company must assure the employee leaves the would never let them go. This may also company with dignity and his contribution boost their competitiveness in their fields. to the company will be recognized by the Termination is not always the end of employer. the world for a terminated employee. It An employer cannot just terminate an may even serve as a new step forward to employee. There is a procedure and law a greater future. that the management has to follow. The employee has to be given a chance to Joan Carla E. Estepa is an MBA student change and correct his wrong doings. of the Ramon V. del Rosario College of In our company handbook, a verbal Business at De La Salle University. This reprimand is given for a first offense. It reflection essay is part of the requirements is a disciplinary action whereby an erring of the course, Strategic Human Resource employee is orally admonished for his Management. initial infraction or violation or minor offense under the company policy, rules The views expressed above are the and regulations. For the second offense, author’s and do not necessarily reflect the the employee will get a written reprimand official position of De La Salle University, given by immediate supervisor with a its faculty, and its administrators.
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