BUSINESS Agriculture output grew 2.1% in first quarter

By Othel V. Campos

THE agriculture sector, which accounts for about a tenth of the gross domestic product, grew 2.1 percent in the first quarter from a year ago on increased production of crops, livestock, poultry and fisheries, the Philippine Statistics Authority said Wednesday.

This followed the 1-percent contraction in farm and fisheries output in the fourth quarter and the 0.3-percent decline in the first quarter of 2022.

“At current prices, the value of pro- duction in agriculture and fisheries at P611.52 billion was 9.4 percent higher than the previous year’s level,” the PSA said.

Data showed that harvests of crops,

PAL signs deal with Airbus to acquire 9 A350-1000 aircraft for long-haul flights

By Darwin G. Amojelar

PHILIPPINE Airlines said Wednesday it signed a deal with Airbus to acquire nine A350-1000 aircraft which will be deployed for long-haul flights.

PAL said that under its Ultra Long Haul Fleet project, it will operate the A350-1000 aircraft on non-stop services from Manila to North America, including the East Coast of the US and Canada.

The A350-1000 is the latest and largest version of the A350 family of long-range jetliners. The new aircraft will join two A350-900s already in service with PAL that are currently flying to destinations in North America, Asia and Australia.

PAL said that as with the A350-900, the PAL A350-1000s will be configured in a premium layout with separate business class, premium economy and economy class cabins.

representing 57.8 percent of the total value of agriculture production, rose 1.7 percent in the first quarter. Palay and corn grew by 5.2 percent and 3.2 percent, respectively.

Other crops that showed increased harvests were tobacco, onion, cassava, cabbage, abaca, mango, coconut, coffee, ampalaya and banana.

Sugarcane output fell 17 percent in the first quarter. The PSA also noted declines in the production of sweet potato, rubber, potato, pineapple, mongo, cacao, eggplant and calamansi in the three-month period.

Meanwhile, livestock production,

PAL also secured purchase rights on three additional A350-1000s to allow future expansion to new long-haul destinations.

PAL president and chief operating officer Captain Stanley Ng said the range of the A350-1000 would enable the airline to fly non-stop transpacific and transpolar routes in both directions all year. These will include some of the longest commercial flights in the world, such as those linking the Philippines with New York and Toronto. With an expanded A350 fleet, PAL will have the ability to provide a direct link from the Philippines to Europe.

“The A350-1000 combines greater range capability with the higher capacity we need to serve future demand. It’s the perfect aircraft to enable PAL to meet its expansion plans in a sustainable way, while offering passengers the highest levels of onboard comfort,” Ng said.

Metro Pacific Investments Corporation

NOTICE OF ANNUAL SHAREHOLDERS’ MEETING

Please be advised that the Annual Meeting of the Shareholders of METRO PACIFIC INVESTMENTS CORPORATION (the “Company”) for the year 2023 will be held on Tuesday, June 06, 2023 at 11:00 a.m.

The venue of the meeting is at Sonata Ballroom, The Westin Manila, San Miguel Avenue corner Lourdes Drive, Ortigas Center, Mandaluyong City. Shareholders may also opt to attend the meeting virtually through the Company’s Electronic Registration and Voting System at https://conveneagm.com/ph/mpicagm

Shareholders who wish to attend the meeting, whether physically or virtually, must inform the Company’s Corporate Secretary by email at corsec@mpic.com. ph no later than May 29, 2023.

In order to ensure the safety and well-being of everyone who will be attending the meeting physically in light of the COVID-19 pandemic, the Company reserves the right to impose additional health and safety protocols at the meeting venue. Those who are interested in attending the meeting physically are advised to check the Company’s website from time to time.

The following shall be the agenda of the meeting:

I. Call to Order

II. Certification of Notice and Quorum

III. Approval of the Minutes of the Annual Meeting of Shareholders held on May 27, 2022

IV. Report of the President and Chief Executive Officer

V. Approval of the 2022 Audited Financial Statements

VI. Ratification of the Acts of the Board of Directors and Management for the year 2022

VII. Election of the Directors for the ensuing Year

VIII. Appointment of External Auditor of the Company for the year 2023

IX. Approval of Voluntary Delisting from the Main Board of the Philippine Stock Exchange

X. Other business that may properly be brought before the meeting

XI. Adjournment

The minutes of the 2022 annual shareholders’ meeting is available at the website of the Company (www.mpic.com.ph) and will be included in the Company’s Information Statement.

The Board of Directors has fixed the close of business on May 17, 2023, as the record date for the determination of shareholders entitled to notice of and to vote at the Annual Shareholders’ Meeting.

Duly accomplished proxies shall be submitted on or before May 30, 2023 to the Office of the Corporate Secretary at 9th Floor, Tower 1, Rockwell Business Center, Ortigas Avenue, Pasig City and/or by email to corsec@mpic.com.ph. Validation of proxies is set on June 02, 2023 at 2:00 pm. Shareholders may vote electronically, subject to validation procedures.

The rules and procedures participating in the meeting physically and virtually and for casting their votes in absentia are set forth in the Information Statement.

A copy of the Interim Unaudited Financial Statements of the Company as of and for the quarter ended March 31, 2023 with Management Discussion and Analysis shall be posted in the website of the Company (www.mpic.com.ph) on or before May 15, 2023. A hard copy of the Annual Report, Information Statement, and Interim Unaudited Financial Statements will be provided to any requesting shareholder, free of charge.

Very truly yours,

RICARDO M. PILARES III Corporate Secretary Pasig City

with 14.4-percent share in total value of production, also showed an annual growth of 4.1 percent in the quarter. Hog production increased 5.1 percent, while cattle output improved by 1.9 percent. Poultry production, with 15.1 percent share in total farm output, went up by 3.2 percent at constant prices in the first three months. All poultry commodities, except duck which recorded a decline of 0.3 percent, recorded annual growths in their value of production, the PSA said. Meanwhile, fisheries production, representing 12.7 percent of the sector, rose 0.3 percent from January to March.

The PSA noted double-digit growth for squid at 18.2 percent, tilapia at 10.8 percent and blue crab at 10.5 percent. Production increments on milkfish, big-eyed scad, yellowfin tuna, grouper and skipjack contributed to the overall fisheries output in the first quarter. Mudcrab, bigeye tuna, frigate tuna, slipmouth, tiger prawn, threadfin bream, Indian Mackerel, cavalla, roundscad, fimbriated sardines and bali sardinella, locally known as tamban, saw lower production.

Seaweed, one of the country’s prized fishery exports, recorded 10-percent decline in first-quarter production.

WATER SHARING.

CYAN MAGENTA YELLOW BLACK

Manila Water Company continues to extend crossborder sharing to Maynilad Water Services Inc. to alleviate supply woes in the latter’s concession area. The sharing deal allows Maynilad to tap treated water from Manila Water’s distribution network. In two locations along Aurora Boulevard in Quezon City, Manila Water has been providing up to 22 million liters of water per day since the fourth quarter of 2022. To further accelerate and bump up supply to Maynilad’s network, Manila Water also energized another sharing point on the East Service Road in Paranaque. As of May 3, this sharing point adds up to 1.28 million liters per day to the west zone concessionaire.