INDUSTRY NEWS
March 03, 2015
PH Seen Posting Trade Surplus In 2015
ROBUST EXPORTS TO COMBINE WITH LOWER OIL IMPORT BILL
Philippine Daily Inquirer by Doris C. Dumlao / 6:56 AM | March 2, 2015
http://business.inquirer.net/187632/ph-seen-posting-trade-surplus-in-2015#ixzz3TIuXTYId
MANILA, Philippines – The Philippines may chalk up this 2015 its first annual trade surplus in more than
two decades of as much as $5 billion due to the combination of robust exports and a lower oil import bill.
In a research note, JP Morgan’s chief economist for Southeast Asia Sin Beng Ong said the Philippines
might end this year with a trade surplus of between $3 billion and $5 billion, marking the country’s first
annual surplus since the late 1990s.
Ong based his projection on the pace of export earnings growth seen in the fourth quarter of 2014
alongside the downturn in oil prices.
Investment Pledges Reach P755.9b — PSA
Manila Standard by Jennifer Ambanta | Mar. 02, 2015 at 11:25pm
http://manilastandardtoday.com/2015/03/02/investment-pledges-reach-p755-9b-psa/
Investment pledges approved by seven government agencies for tax incentives hit P755.9 billion in 2014,
up 0.2 percent from P754 billion in 2013, the Philippine Statistics Authority said Monday.
Data from the PSA showed domestic investments climbed 18.5 percent to P569 billion, while foreign
investments fell 31.8 percent to P186.9 billion.
11 of Forbes’ richest are Filipinos
Manila Bulletin by Tessa Distor / March 3, 2015 (updated)
http://www.mb.com.ph/11-of-forbes-richest-are-filipinos/
For its 29th Annual Billionaires List (www.forbes.com/billionaires), Forbes found the 1,826 who made it to
the list had an aggregate net worth of $7.05 trillion.
Ranking 73rd is 90-year old mall tycoon Henry Sy. With a net worth of $14.2 billion, his rank went up
from 97th in the previous year. One of Sy’s most recent ventures is the City of Dreams Manila resort and
casino which opened in December 2014.
Forbes recognized Sy as a self-made man with “humble origins”, who “studied retail at his father’s elbow
in the family convenience store”.
Other Philippine nationals who made it to the list are:
#254 John Gokongwei, Jr. with $5.8 billion net worth
#291 Enrique Razon, Jr. with $5.2 billion net worth
#330 Andrew Tan with $4.8 billion net worth
#369 Lucio Tan and George Ty, both with $4.4 billion net worth
#405 David Consunji with $4.1 billion net worth
#690 Tony Tan Caktiong with $2.7 billion net worth
#810 Lucio and Susan Co with $2.3 billion net worth
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#1054 Robert Coyuito, Jr. with $1.8 billion net worth
#1190 Manuel Villar $1.6 billion net worth
The youngest among the Filipino billionaires is Razon at 54. He is the chairman and CEO of International
Container Terminal Services, one of largest port operators in the Philippines and worldwide.
Bill Gates, with a net worth of $79.2 billion, remains to be the first on the list, the place he has held for 16
of the past 21 years.
Palace: Manila Port Decongested, Operations Back To Normal
Philippine Daily Inquirer by Aries Joseph Hegina / 3:57 PM | March 2, 2015
http://business.inquirer.net/187681/palace-manila-port-decongested-operations-back-to-normal
MANILA, Philippines—Malacañang on Monday claimed that the operations in the Port of Manila have
“completely normalized” and that congestion has been resolved.
In a statement, Cabinet Secretary Rene Almendras said that during the past three weeks, ships docked in
the Manila port have been accommodated.
ASEAN Focus On Trade Facilitation, Liberalizing Services
Business World / Posted on March 02, 2015 09:26:00 PM
http://www.bworldonline.com/content.php?section=Economy&title=asean-focus-on-trade-facilitationliberalizing-services&id=103625
Discussions among Association of Southeast Asian Nation (ASEAN) member countries this year will
focus on trade facilitation as the region prepares for an integrated regional economy at the end of 2015,
economic ministers said in a statement on Monday.
Economic ministers of ASEAN countries met from Feb. 28 to March 1 in Malaysia for a “retreat” to tackle
key developments in trade and economic prospects for the region.
Local Cement Manufacturers Boast Of Better After-Market Infrastructure
Manila Bulletin by Bernie Magkilat / March 2, 2015
http://www.mb.com.ph/local-cement-manufacturers-boast-of-better-after-market-infrastructure/
Local cement players claimed they have an edge over foreign imports stressing it has an existing strong
aftermarket service infrastructure.
As the ASEAN economic integration draws closer, “Local cement manufacturers have an established
aftermarket infrastructure,” said Ernesto Ordoñez, President of the Cement Manufacturers’ Association of
the Philippines (CeMAP). “This allows them to respond to consumer needs and concerns more quickly
and effectively,” said Ordonez.
More Jobs Seen In Q2 – Survey
Manila Times / March 2, 2015 11:46 pm
by MAYVELIN U. CARABALLO REPORTER
http://www.manilatimes.net/more-jobs-seen-in-q2-survey/166778/
Local firms said they have plans to expand their business operations and hire more people in the coming
quarter, according to a central bank survey.
According to the results of the quarterly Business Expectations Survey (BES) by the Bangko Sentral ng
Pilipinas (BSP), about one in every three respondent firms in the industry sector indicated expansion
plans for the quarter ahead.
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ADB Commits $250M for ‘Inclusive Business’
Manila Bulletin by Bernie Magkilat / March 1, 2015
http://www.mb.com.ph/adb-commits-250m-for-inclusive-business/
Asian Development Bank (ADB) has committed to provide $250 million loan facility to support the
government’s Inclusive Business (IB) model, which has already identified three agro-business projects of
Nestle Philippines (NPI), Kennemer Foods Inc. (KFI), and Rocky Mountain Arabica Coffee Company
(RMACC) for their scaled-up job creation in the rural poor.
Documents showed that ADB’s $250 million “Rural Job Creation for Poverty Reduction” loan to the
Philippines government under the Department of Trade and Industry for approval in 2015 or 2016 seeks
to encourage scaled-up job creation in the countryside. ADB believes that IB is the best way to achieve
the objective of the loan.
Nestle Opens 3 New Coffee Buying Stations
The Philippine Star by Czeriza Valencia | Updated March 2, 2015 - 12:00am
http://www.philstar.com/business/2015/03/02/1429015/nestle-opens-3-new-coffee-buying-stations
MANILA, Philippines - Consumer goods manufacturer Nestlé Philippines recently opened three new
buying stations in key coffee-producing provinces, enabling farmers to have ready access for their
produce.
Small and medium-scale coffee producers and intermediaries can now sell their coffee to new Nestlé
buying stations in Silang, Cavite; Lapuz Norte in Iloilo; and Bagong Pook in Lipa, Batangas.
Around 5,500 local coffee growers in Cavite, Iloilo City, and parts of Antique, Capiz, and Guimaras are
expected to benefit from the increased market access as well as training in plant propagation.
Bsp Still Bullish On Employment Prospects In Phl
The Philippine Star by Kathleen A. Martin | Updated March 2, 2015 - 12:00am
http://www.philstar.com/business/2015/03/02/1429014/bsp-still-bullish-employment-prospects-phl
MANILA, Philippines - More jobs are expected to be made available in the second quarter as local firms
continue to expand, a Bangko Sentral ng Pilipinas survey showed.
PHL On Track For Trade Surplus – JPMORGAN
Business World by Daryll Edisonn D. Saclag / Posted on March 01, 2015 08:16:00 PM
http://www.bworldonline.com/content.php?section=Economy&title=phl-on-track-for-trade-surplus---jpmorgan&id=103524
The Philippines could post its first trade surplus in over a decade this year as exports of merchandise
goods further grow and oil prices continue to drop, an analyst from JPMorgan Chase Bank, N.A. said.
In a research note to clients released last week, JPMorgan chief economist for Southeast Asia Sin Beng
Ong said: “Given the run-rate of exports in 4Q14 and lower oil prices, the risk is that the 2015 customs
trade balance could see a surplus of between $3-5 billion, which would be a $5-7 billion rise relative to
2014 and would mark the first annual surplus since the late 1990s.”
Da Allocates P1.3 B For Hybrid Rice Production
Manila Bulletin by Melody M. Aguiba / March 1, 2015
http://www.mb.com.ph/da-allocates-p1-3-b-for-hybrid-rice-production/
The Department of Agriculture has allocated P1.329 billion to fully subsidize hybrid rice production in the
country targeting 147,626 hectares to be planted during the dry season until 2016. The agency has
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earmarked for 2014-2015 dry season (DS) P362.815 million; 2015 wet season, P229.10 million; and
2015-2016 DS, P738.13 million.
Agriculture Secretary Proceso Alcala said the agency has programmed hybrid rice as a means to raise
the country’s rice self sufficiency level which is also supported by raising irrigation capability.
Proposed Green Energy Projects In Mindanao Rise To 231
Business World / Posted on March 01, 2015 08:15:00 PM
http://www.bworldonline.com/content.php?section=Economy&title=proposed-green-energy-projects-inmindanao-rise-to-231&id=103523
DAVAO CITY -- Proposed renewable energy projects in Mindanao have increased to 231 as of February
from 159 at the end of 2014, according to data from the one-stop facilitation center of the Mindanao
Development Authority (MinDA).
E- Vehicle Group Defends DTI
Manila Times / February 6, 2015 10:59 pm
http://www.manilatimes.net/e-vehicle-group-defends-dti/161015/
The Electric Vehicle Association of the Philippines, the organization of electric vehicle manufacturers,
assemblers, importers, dealers, suppliers and enthusiasts said the Department of Trade and Industry has
been working with the industry to accelerate its development and put EVs in the mainstream of public
transport. Multisectoral civic groups earlier claimed the DTI neglected its duty to significantly reduce
vehicle emissions under the 1999 Clean Air Act (Republic Act No. 8749). EVAP added that in many ways,
through its initiatives in the EV industry, the DTI has been helping the country achieve its CO2 emission
reduction targets by promoting and attracting investments in clean energy, renewable energy, electric
vehicles and the like.
Peanuts May Reduce Risk Of Death, Heart Disease
Agence France-Presse Agence France-Presse 9:55 AM / March 3, 2015
http://technology.inquirer.net/41110/peanuts-may-reduce-risk-of-death-heart-disease
WASHINGTON, United States – Eating peanuts, in small amounts, may reduce the risk of mortality,
especially death from cardiovascular disease, a new study Monday showed.
The report compiles research from people of varying races, including Caucasians, African Americans and
Asians, all from low income backgrounds.
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WORDS OF ENCOURAGEMENT
“For I know the plans I have for you,” declares the LORD, “plans to prosper you and not to harm
you, plans to give you hope and a future”. Jeremiah 29:11
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