APRIL 2021 A monthly publication of the Lopez group of companies www.lopezlink.ph http://www.facebook.com/lopezlinkonline www.twitter.com/lopezlinkph Economic impact Psychological first aid—Learning assessment to help others by helping ourselves By Audrey Trinidad Story on page 4 A salute to #Womenof Knowledge …page 6 ‘Doctor Happy Foster’ is birthday, in…page 10 OML! 2 Lopezlink April 2021 BIZ NEWS BIZ NEWS Lopezlink April 2021 3 First Gen attributable net FGEN LNG taps BW for LNG project ABS-CBN’s COVID-19 response FGEN LNG Corporation is capable of storing LNG and has executed a five-year time which has an onboard regasifi- income down 7% charter party with BW FSRU cation plant capable of return- wins at 18th PH Quill Awards IV Pte. Ltd., a wholly owned ing LNG into a gaseous state By Kane Choa FIRST Gen Corporation The company, however, had a ($2,151 million) in 2019. All subsidiary of BW Gas Lim- and then supplying it directly ended 2020 with P13.7 billion lower recurring attributable net of the company’s platforms ited, for the charter of a float- into the gas network. ($276 million), a 7% decline in income to parent of P4.5 billion were affected by the decline in ABS-CBN’s multipronged The company’s COVID re- safety and well-being of Ka- ing storage regasification unit In addition to providing net income attributable to equi- ($90 million) for the year, while demand brought by the pan- COVID-19 response that sponse helped educate the public pamilya artists and workers. (FSRU) in respect of FGEN storage and regasification ty holders from the operations it generated P5.1 billion ($98 demic that resulted in lower helped Filipinos cope with the about COVID-19 on TV, radio The company also received LNG’s interim offshore LNG services, the BW Paris—the of its 3,492-megawatt (MW) million) in 2019. power prices. pandemic via a fundraising and online through public ser- a Philippine Quill Award for terminal project that will be FSRU to be provided— is clean, low-carbon and renew- The hydro platform’s attrib- The natural gas portfolio ac- campaign, a multi-platform in- vice announcements featuring “KapamilYammer.” The internal built at the First Gen Clean capable of providing ancillary able portfolio. The company utable earnings contribution counted for 59% of First Gen’s formation drive and programs Kapamilya personalities via the communications tool uses the Energy Complex in Batangas services such as the reloading resource is expected to be less also delivered lower operat- fell by 90%, or P0.6 billion total consolidated revenues. that gave hope to families stuck “Ligtas Pilipinas sa COVID-19” enterprise social network called City. of LNG into trucks and small- reliable in producing and pro- ing expenses, interest expenses, ($12 million), to P0.1 billion EDC’s geothermal, wind and at home was honored with an campaign and documentaries, Yammer, wherein Kapamilya The project will allow FGEN scale LNG vessels, which can viding sufficient fuel supply for and incurred foreign exchange ($1 million) for 2020 from solar revenues accounted for Award of Excellence at the and amplified the government’s employees get to express, interact LNG to accelerate its ability to then distribute LNG to nearby the country’s existing gas-fired gains. P0.7 billion ($14 million) 38% of First Gen’s total consol- 18th Philippine Quill Awards. updates and health protocols and receive updates anytime, any- introduce LNG to the Philip- industrial areas as well as the power plants, and even less so It had P15.4 billion ($296 in 2019 mainly due to lower idated revenues in 2020, while ABS-CBN and ABS-CBN through news reports delivered where such as health tips, safety pines as early as the third quar- rest of the Philippine archi- for additional gas-fired power million) in earnings from the prices at the Wholesale Elec- the hydro plants accounted for Foundation Inc.’s “Pantawid ng on different platforms. protocols, company announce- ter of 2022 to serve the natural pelago. plants. The entry of LNG will same period in 2019. tricity Spot Market, though 2%. Pag-ibig” provided relief goods ABS-CBN further helped ments and inspiring features to gas requirements of existing and FGEN LNG believes the encourage new power plant The natural gas platform mildly offset by higher ancil- “While we are grateful that to over 900,000 families within ease the anxieties of families engage the internal community. future gas-fired power plants of project will play a critical role developments as well as indus- suffered from a 7% decrease in lary service sales. The hydro First Gen was marginally af- six months since it was launched as the stay-at-home orders The International Association third parties and FGEN LNG in ensuring the energy secu- trial and transport industries earnings for the year to P9.3 platform’s recurring earnings fected by the decline in power in March 2020 with the help of continued by bringing back of Business Communicators affiliates. rity of the Luzon grid and the to consider it as a replacement billion ($187 million) from in 2020 were the same at P0.1 demand resulting from the partner organizations and local well-loved classics on televi- Philippines holds the Philippine An FSRU is a liquefied nat- Philippines, particularly as the to more costly and polluting P10.4 billion ($201 million) billion ($1 million). pandemic, we are still looking government units. It is now on sion, offering over 1,000 mov- Quill Awards annually to honor ural gas carrier or LNGC that indigenous Malampaya gas fuels. in 2019. From a recurring at- First Gen’s recurring net forward to a better 2021. Not its third phase called “Pilipino ies for free streaming online on excellent communications pro- tributable net income to parent income attributable to equity only do we expect the country Para sa Pilipino” (see related iWantTFC and producing new grams and skills by companies of P10.1 billion ($194 million) holders in 2020 was P12.6 bil- to climb its way up to recov- story on page 7). content even as it ensured the and agencies in the country. in 2019, the gas platform gen- lion ($252 million). This was ery, but we are also preparing erated P9.2 billion ($184 mil- P2.2 billion ($32 million) or for this by, among other things, ‘Repair. Restore. Recover.’ NBAQ4 shifts to lion) for 2020. 11% less than the 2019 earnings commencing the construction Energy Development Cor- of P14.8 billion ($284 million) of the country’s first LNG ter- poration (EDC) contributed due mainly to lower electricity minal next month which puts Take business online, wealth attributable earnings from its sales across all platforms. the company in a good position renewable energy source geothermal, wind and solar Consolidated revenues for expanding its gas portfolio By Dolly Pasia-Ramos platforms amounting to P5.3 from the sale of electricity in especially after the recent DOE coach tells entrepreneurs billion ($106 million) in 2020, 2020 declined by P20.6 bil- [Department of Energy] coal 5% higher in comparison to the lion ($321 million) or 15% to moratorium,” First Gen presi- THE Novaliches-Balara Aq- “In addition to saving Plant. P5.2 billion ($101 million) it P91.2 billion ($1,830 million) dent and COO Giles Puno ueduct 4 (NBAQ4) project is money, it also helps reduce A tunnel boring machine earned in 2019. compared to P111.8 billion said. shifting to a renewable energy dependence on fossil fuels (TBM) is being used to build source through the 140-mega- and that is absolutely critical the aqueduct—the first time in watt (MW) Bacman Geother- to protecting the health of all the Philippines a TBM is used FPH recurring net income at P9.4B mal Power Plant. Filipinos, now and for genera- in an urban setting. In a contract signed earlier tions to come.” Project manager Rod Scott FOR the year ended Dec. 31, response to the COVID-19 lated expenses incurred by the this year, NovaBala Joint Ven- First Balfour pollution con- said: “Our tunnel boring ma- 2020, recurring net income pandemic. group. ture Corporation (NBJVC) trol officer Jennifer Padillo chine and equipment are op- (RNI) attributable to First The net income attributable The FPH Group’s total reve- entered into an agreement noted that the project’s annual erating 24 hours a day, con- Philippine Holdings Corpora- to FPH also decreased by P2.7 nues decreased by P26.3 billion with First Gen Corporation’s energy consumption is equiva- suming around 2 megawatts tion (FPH) amounted to P9.4 billion or 22%, from P12.6 bil- or 20%, from P133.6 billion in Bacman Geothermal Inc. for lent to 2,970 metric tons of car- of power. To operate using billion, a 21% or P2.6 billion lion in 2019 to P9.9 billion in 2019 to P107.3 billion in 2020. the supply of 900 kilowatts of bon dioxide, comparable to the renewable energy generated decline from last year’s P12.0 2020, reflecting the slide in The decline was largely caused electricity per month to the energy use of 343 households from the Bacman Geother- billion. The downturn was RNI partly tempered by the by the economic disruptions of project facility in Quezon City. in one year. mal Plant is without doubt caused by the weaker operat- net nonrecurring gains booked the COVID-19 pandemic that The initiative was a joint effort One of the largest and a fantastic achievement. It is ing results of the group’s ener- during the year largely on ac- brought about lower sales of between NBJVC and First Gen most important infrastruc- the right thing to do.