BUSINESS
B3 SATURDAY, FEBRUARY 10, 2024
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Ogura starts operations at Lima Estate LANDBANK’S AWARDS. Land Bank of the Philippines bags five recognitions at the 2024 Philippine Quill Awards for its exemplary communication campaigns and initiatives. LandBank corporate services sector head and executive vice president Alex Lorayes (center) receives the awards for the bank, joined by senior vice president Catherine Rowena Villanueva (third from left), first vice president Vivian Cañonero (fifth from left), assistant vice presidents Gaudioso Carlos Garcia (sixth from left) and Melissa Calimag (second from left) and unit heads Joselito Ramos (left) and Kurt Dale Tordesillas (right).
Rustan’s Group mourns passing of matriarch Nedy Tantoco LUXURY retailer Rustan’s Group on Friday announced the death of Rustan’s Commercial Corp. chairwoman Zenaida “Nedy” Tantoco on Feb. 8 at age 77. “Although known in the industry for her astute professionalism, Nedy will always be better remembered as a nurturing force in fostering family empowerment and unity,” the company said in a statement. “These, she believed, were key for their family’s future generations to
thrive,” it said. Tantoco’s wake will be held at 25B Tamarind Ave., Forbes Park, Makati City starting Feb. 10 to 12 at 11 a.m. to 10 p.m. The wake will then be moved to the Heritage Park from Feb. 13 to 14 at 9 a.m. to 9 p.m. The funeral mass will be on Feb. 15, 9 a.m. at the Santuario de San Antonio Parish. Tantoco, a philanthropist and a patron of the arts, is survived by her partner
Patrick Jacinto and her three children - Anton and wife Nina with daughters Nikki and Isabelle; Michael and wife Kathy and children Kenzie and Kameron; and Catherine and husband David Endriga; and her dogs Sabrina, Tricia, Tessa, Katlinka, Skippy, Bocelli and Tequila. Tantoco’s parents Ambassador Bienvenido Tantoco Sr. and Gliceria RustiaTantoco, founded the Rustan’s Group in 1952.
Zenaida ‘Nedy Tantoco
Miescor, partner install hybrid power project By Alena Mae S. Flores MERALCO Industrial Engineering Services Corp. (Miescor) said Friday it teamed up with South Korea’s SeoChang Electric Communication Co. Ltd. to launch an innovative and sustainable on-grid hybrid power solution for a Gawad Kalinga community in Cavite province. The recently-inaugurated project in Barangay Hugo Perez, Trece Martires City features a 50-kilowatt peak solar photovoltaic (PV) system, a 300-kilowatt-hour energy storage system (ESS) and three electric vehicle (EV) charging stations. Miescor president and chief executive Richard Ochava said in a statement the project offers a unique approach to sustainable power service. The company is a subsidiary of Manila Electric Co. (Meralco), the country’s biggest power retailer. “Our one-of-a-kind facility creatively promotes the sustainable use of power to bring light to our communities,” Ochava said. SeoChang specializes in innovative products such as Advanced Metering Infrastructure (AMI) and ESS construction. Miescor spearheaded the engineering, procurement and construction services for the landmark and groundbreaking facility. The collaboration underscores Meralco’s commitment to the United Nations’ Sustainable Development Goals, driven by its sustainability agenda called “Powering the Good Life”.
FUTURE ENERGY LEADERS. Philippine National Oil Co. (PNOC) launches the Future Ready Academy (FRA), a groundbreaking initiative aimed at cultivating the next generation of energy leaders. The inauguration ceremony took place at the PNOC Corporate Center on Jan. 27, 2024, with 30 Grade 12 students from leading science high schools participating in the program.
Enchanted Kingdom features ‘Dinner in the Sky’ this month By Roy Tomandao SANTA Rosa City, Laguna—Enchanted Kingdom, the first world class theme park in the Philippines, announced its Chinese New Year and Valentine’s offerings for the month of February. EK welcomes back “Enchanting Dinner in the Sky” featuring a Japanese-themed dinner for couples and groups while riding the Wheel of Fate. Visitors can enjoy magical views, bring home photo souvenirs and red string bracelets as they create en-
Helios launches Asia’s first solar mortgage program for homeowners CLIMATE financial-technology firm Helios launched Asia’s first solar mortgage program to make solar power accessible to all homeowners. Helios, the first residential solar fintech platform in Asia, announced its partnership with Bank of the Philippine Islands (BPI) to integrate solar energy solutions into residential properties acquired through home loans. “Solar mortgage is the first of its kind. It is a bonafide Filipino innovation. The idea is the green loan with BPI is cash flow positive, meaning the savings you unlock from adding solar to your home will be larger than any payment capacity. We help our consumers who are servicing home loans make their home more affordable,” said Helios co-
founder Alex Aronson. Ranging from P400,000 to more than P10 million options, the solar mortgage is available not only for new home purchases but also for existing homes that wish to have a solar upgrade. The solar home mortgage introduced by Helios offers flexibility depending on one’s needs and budget, making solar energy more accessible and tailored to the diverse needs of homeowners. About 100 new homeowners have already benefited from the solar mortgage’s introductory offering, which rolled out in the last quarter of 2023. BPI aims to be a thought leader and market innovator in financing products and services like Helios.
chanted story. The Enchanting Dinner in the Sky also includes regular day pass tickets and will run on all weekends of February and on Valentine’s Day. EK also announced its Chinese New Year Promo where family and friends will feel the magic of prosperity as they savor an EKsclusive Chinese lauriat set meal good for four persons, inclusive of four regular day pass tickets from Feb. 9 to 29. This promo can be booked through the EK Online Store. Meanwhile, Asia’s Got Talent grand finalist Power Duo will head-
line EK’s Chinese New Year celebration on Feb. 10. They will be joined by IOX Dancers and EK’s own Victoria’s Way and Kingsmen. Park guests will witness the traditional Chinese Dragon and Lion Dance around the park to welcome the year of the dragon. EK said it is also continuing with the Hug-A-Palooza, now in its sixth year, as a celebration of the season of love filled with warm hugs shared among family, loved ones and friends. Sparkle GMA Artist Ken Chan will serenade park goers on Feb. 17. Climate finance technology firm Helios launches Asia’s first solar mortgage program, integrating solar energy solutions into residential properties acquired through home loans. Helios teams up with Bank of Philippine Islands to offer 7-percent interest rate, with a seven-year fixing period. Shown are Helios co-founder Alex Aronson (center), Helios solar mortgage client Mark Zambrano and Hyman Lu of Longi Green Energy Technology Co. Ltd.
By Othel V. Campos
G
LOBAL clutch manufacturer Ogura Clutch Philippines Inc. relocated its operations to LIMA Estate, an 826-hectare industrial park in Lipa and Malvar, Batangas owned by Aboitiz InfraCapital (AIC) Economic Estates.
The company invested P710 million in its new 16,144-square-meter facility within the estate’s 200-hectare industrial expansion zone. “We strategically chose to relocate our operations to LIMA Estate due to its comprehensive infrastructure development solutions. The distinctive support provided by AIC for Japanese manufacturing companies, notably demonstrated through organizations like the Japanese Locator Association, distinguishes the estate from other industrial parks,” said Ogura Clutch Philippines president Toshio Takahashi. He said the relocation provided the company with renewed confidence to continue its manufacturing operations in the Philippines. The facility will serve both distribution and manufacturing functions, catering to renowned automobile brands like Toyota, Mercedes-Benz and Ford. Founded in Japan in 1938, Ogura is the world’s largest producer of electromagnetic clutches and brakes. The relocation is expected to yield substantial economic benefits by creating approximately 1,500 job opportunities for residents of Lipa and Malvar, Batangas. Their new facility in LIMA Estate will enable increased efficiency in distribution and manufacturing functions, enhancing Ogura’s position as the leading clutch manufacturer in the world. “Here at LIMA Estate, we are eager to collaborate closely with our partners to foster an environment where both businesses and local residents can thrive,” said LIMA Land vice president Clifford Academia. As the infrastructure arm of the Aboitiz Group, Aboitiz InfraCapital plays a pivotal role in bolstering the Philippines’ stature as a preferred investment destination for Japanese companies. AIC generates significant economic opportunities in the country by spearheading the development of smart and sustainable economic estates, aligning with their commitment to fostering long-term growth and collaboration.
Japanese firm Tokai hiking stake in REDC JAPANESE conglomerate Tokai Corp. plans to increase its stake in listed Repower Energy Development Corp. by at least 15 percent through a block sale. REDC said in a disclosure to the Philippine Stock Exchange that it received communication from Tokai, notifying its intention to acquire at least 15 percent of the corporation’s equity securities. Tokai initially subscribed to 65 million common shares in REDC, equivalent to 9.99 percent of its total outstanding capital stock in July 2023. “As a strategic investment, Tokai now intends to further acquire from Pure Energy Holdings Corp. an additional 65,100,000 common shares in REDC, which will be implemented by way of a block sale through the facilities of the PSE. Once implemented, such acquisition will result to Tokai’s ownership of 20.01 percent of the total outstanding capital stock of REDC,” Tokai said in a letter to the Securities and Exchange Commission. Tokai is wholly-owned by Tokai Holdings Corp., a listed company in the Tokyo Stock Exchange. The principal business of the company is energy, including the manufacture and sale of liquefied petroleum gas, liquefied natural gas, high pressure gas and gas equipment. REDC earlier said Tokai would participate in its planned initial public offering as an anchor investor. “We are pleased on Tokai’s commitment to participate in our IPO as this is a testament to the market’s growing interest in our company,” REDC president and chief executive Eric Peter Roxas said. Alena Mae S. Flores