DOCSLIB.ORG

2020 Annual Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

Stock Code: 00142 ANNUAL REPORT 2020 CorporateCorporate ProfileProfile FIRST PACIFIC is a Hong Kong-based investment management and holding company with operations located in Asia-Pacific. Our principal businesses relate to consumer food products, telecommunications, infrastructure and natural resources. Our mission is to unlock value Our investment criteria are Our strategies are threefold: in our operating companies clear: by: ■ Delivering dividend/distribution ■ Investments must be located in ■ Identify undervalued or returns to shareholders or trading with the fast-growing underperforming assets with ■ Delivering share price/value economies of emerging Asia strong growth potential and appreciation of First Pacific and its ■ They must be related to our four possible synergies operating companies industry sectors (consumer food ■ Manage businesses by setting ■ Making further investments in products, telecommunications, strategic direction, developing value-enhancing businesses, infrastructure and natural business plans and defining taking into consideration all resources) targets relevant criteria, including ■ Companies invested in must have ■ Raise reporting and ESG standards Environmental, Social and a strong or dominant market to world-class levels at First Pacific Governance (“ESG”) factors to position in their respective sectors and its operating companies better manage risk and generate ■ They must possess the potential sustainable long-term returns for substantial cash flows ■ First Pacific must obtain management control or significant influence to ensure our goals can be met Contents Inside Corporate Profile 18 MPIC Front 23 Philex 2 Ten-year Statistical Summary 28 FPM Power/PLP 4 Financial Highlights 30 FP Natural Resources/RHI 6 Review of Operations 33 Chairman’s Letter 6 First Pacific 34 Managing Director and Chief Executive Officer’s Letter 9 Indofood 35 Board of Directors and Senior Executives 14 PLDT 42 Corporate Social Responsibility Report 2 First Pacific Annual Report 2020 First Pacific’s business represents a balance of assets in our core industries and markets in PT Indofood Sukses Makmur Tbk (“Indofood”), PLDT Inc. (“PLDT”) and Metro Pacific Investments Corporation (“MPIC”). Indofood is the largest vertically integrated food company in Indonesia and PLDT is the dominant integrated telecommunications and digital services provider in the Philippines with the largest fixed broadband network and the largest, most modern, and most sophisticated wireless network in the country. MPIC is a leading infrastructure investment management and holding company in the Philippines, with holdings in the country’s largest electricity distributor, toll road operator, water distributor, and hospital group. MPIC also holds assets in the storage of petroleum products and in the largest electricity generator in the Visayas region of the Philippines. First Pacific is also invested in Philex Mining Corporation (“Philex”), PXP Energy Corporation (“PXP”), PacificLight Power Pte. Ltd. (“PLP”) and Roxas Holdings, Inc. (“RHI”). Philex is one of the largest metal mining companies in the Philippines, producing gold, copper and silver. PXP is an upstream oil and gas company with a number of service contracts in the Philippines and Peru. PLP is the operator of one of Singapore’s most efficient gas-fired power plants and RHI runs a sugar and ethanol business in the Philippines. Listed in Hong Kong, First Pacific’s shares are also available for trading in the United States through American Depositary Receipts. As at 29 March 2021, First Pacific’s economic interest in Indofood is 50.1%, in PLDT 25.6%, in MPIC 43.1%, in Philex 31.2%(1), in PXP 35.7%(1)(2), in FPM Power Holdings Limited (“FPM Power”) 67.8%(3) and in FP Natural Resources Limited (“FP Natural Resources”) 80.8%(4). (1) Two Rivers Pacific Holdings Corporation (“Two Rivers”), a Philippine affiliate of First Pacific, holds additional 15.0% and 6.7% economic interests in Philex and PXP, respectively. (2) Includes a 14.0% effective economic interest in PXP held through First Pacific’s indirect interests in Philex. (3) Includes a 7.8% effective economic interest in FPM Power held through First Pacific’s indirect interests in Manila Electric Company (“Meralco”). (4) Includes a 10.8% effective economic interest in FP Natural Resources held through First Pacific’s indirect interests in Indofood Agri Resources Ltd. (“IndoAgri”). FP Natural Resources holds 32.7% in RHI, and its Philippine affiliate First Agri Holdings Corporation (“FAHC”) holds an additional 30.2% economic interest in RHI. 54 Corporate Governance Report 89 Financial Review 54 Governance Framework 89 Financial Performance and Position 65 Communications with Shareholders 92 Liquidity and Financial Resources 67 Continuing Connected Transactions and 96 Financial Risk Management Connected Transactions 100 Adjusted NAV Per Share 80 Risk Management and Internal Control 101 Statutory Reports, Consolidated Financial Statements 88 Remuneration Policy and Notes to the Consolidated Financial Statements 231 Glossary of Terms 234 Information for Investors 235 Summary of Principal Investments Inside Corporate Structure Back First Pacific Annual Report 2020 1 Ten-year Statistical Summary 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 Results (US$ millions) Turnover 7,130.5 7,585.0 7,233.3 7,037.9 6,779.0 6,437.0 6,841.3 6,005.8 5,990.8 5,684.1 Profit for the year 667.6 121.1 608.7 561.3 517.8 418.9 503.2 620.9 834.9 1,097.4 Profit/(loss) attributable to owners of the parent 201.6 (253.9) 131.8 120.9 103.2 80.6 75.7 235.3 353.3 574.0 Contribution from operations 409.7 395.6 393.9 420.5 400.2 426.5 455.7 467.2 460.8 511.8 Recurring profit 321.2 290.0 289.5 300.0 264.9 287.5 316.9 327.1 358.0 423.0 Ordinary share distributions/dividends 75.2 74.8 74.7 74.5 74.2 115.7 116.1 103.8 109.8 81.0 Per Ordinary Share Data (U.S. cents) Basic earnings/(loss) 4.65 (5.85) 3.04 2.80 2.42 1.89 1.76 5.66 9.01 14.49 Basic recurring earnings 7.40 6.68 6.68 6.96 6.21 6.74 7.39 7.87 9.13 10.68 Distributions/dividends 1.86 1.73 1.73 1.73 1.73 1.73 2.70 2.70 2.70 2.85 Equity attributable to owners of the parent 72.27 67.41 71.02 74.32 72.68 71.93 78.08 81.44 84.65 78.50 Total assets 620.12 503.64 481.38 471.08 402.07 402.93 378.67 360.68 362.80 327.55 Tangible assets 383.21 372.50 359.45 361.58 300.82 305.12 295.40 281.00 281.45 251.57 Net cash flows from operating activities 33.51 16.91 17.96 17.11 15.21 19.48 17.41 25.54 16.22 23.86 Financial Ratios Gross margin (%) 32.37 30.11 28.02 29.34 29.57 27.86 27.59 29.31 31.08 31.21 Recurring return on average net assets (%) 8.98 10.47 9.00 9.47 9.23 9.24 10.13 10.18 11.83 15.01 Recurring return on average equity attributable to owners of the parent (%) 10.59 9.65 9.17 9.47 8.57 8.96 9.24 9.69 11.43 15.11 Distribution/dividend payout ratio (%) 25.22 25.93 25.84 25.03 28.12 25.81 36.51 35.49 28.99 25.96 Distribution/dividend cover (times) 3.97 3.86 3.87 4.02 3.56 3.87 2.74 2.82 3.45 3.85 Distribution/dividend yield (%) 5.87 5.09 4.45 2.53 2.50 2.64 2.74 2.38 2.49 2.75 Interest cover (times) 3.99 4.24 4.06 4.31 4.18 3.87 4.29 4.77 6.29 7.18 Current ratio (times) 1.24 1.12 1.03 1.32 1.24 1.39 1.69 1.72 1.78 1.57 Gearing ratio (times) – Consolidated 0.77 0.68 0.78 0.66 0.54 0.64 0.47 0.43 0.30 0.26 – Head Office 0.81 0.76 0.76 0.83 0.75 0.79 0.56 0.51 0.67 0.71 2 First Pacific Annual Report 2020 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 Consolidated Statement of Financial Position Data (US$ millions) Total assets 26,943.6 21,882.5 20,901.5 20,454.5 17,215.4 17,199.0 16,233.4 15,544.1 13,886.7 12,611.8 Net debt 8,205.6 5,978.4 6,783.9 5,731.4 4,338.0 4,667.9 3,455.9 3,182.5 2,145.8 1,764.8 Total liabilities 16,315.1 13,124.5 12,191.1 11,712.0 9,181.1 9,864.6 8,822.1 8,064.6 6,636.0 5,732.6 Net current assets 1,147.7 525.3 120.2 1,041.0 646.9 1,186.2 1,944.6 1,672.3 1,613.9 1,193.0 Total assets less current liabilities 22,112.8 17,385.2 16,761.2 17,198.5 14,493.6 14,130.4 13,420.2 13,213.4 11,817.1 10,508.8 Equity attributable to owners of the parent 3,140.0 2,928.7 3,083.6 3,227.1 3,112.0 3,070.2 3,347.2 3,509.9 3,240.0 3,022.7 Total equity 8,758.0 8,710.4 8,742.5 8,034.3 7,334.4 7,411.3 7,479.5 7,250.7 6,879.2 10,628.5 Consolidated Statement of Cash Flows Data (US$ millions) Net cash flows from operating activities 1,036.6 1,455.5 734.1 776.1 731.4 650.0 835.8 723.9 1,002.0 642.5 Capital expenditure 1,376.5 1,236.0 1,063.0 696.7 830.8 636.4 899.7 701.6 561.7 1,065.6 Other Information (at 31 December) Head Office net debt (US$ millions) 1,319.5 1,330.6 1,550.2 1,521.8 1,511.3 1,675.3 1,227.5 1,160.3 1,133.8 1,170.3 Number of shares in issue (millions) 4,344.9 4,344.9 4,342.0 4,342.0 4,281.7 4,268.5 4,287.0 4,309.7 3,827.6 3,850.4 Weighted average number of shares in issue during the year (millions) 4,344.9 4,344.1 4,342.0 4,320.2 4,275.8 4,274.2 4,299.1 4,157.4 3,922.7 3,961.8 Share price (HK$) – After rights issue 2.47 2.65 3.02 5.30 5.42 5.14 7.69 8.82 8.32 7.90 – Before rights issue N/A N/A N/A N/A N/A N/A N/A N/A 8.51 8.08 Adjusted NAV per share (HK$) – After rights issue 7.23 6.30 7.26 10.26 10.45 9.67 13.24 12.57 15.09 13.09 – Before rights issue N/A N/A N/A N/A N/A N/A N/A N/A 15.43 13.38 Share price discount to adjusted NAV per share (%) 65.8 57.9 58.4 48.3 48.1 46.8 41.9 29.8 44.8 39.6 Market capitalization (US$ millions) 1,375.9 1,476.2 1,681.1 2,950.3 2,975.2 2,812.8 4,226.5 4,873.3 4,176.0 3,988.6 Number of shareholders 4,478 4,494 4,500 4,530 4,760 4,796 4,853 4,884 4,606 4,503 Number of employees 103,127 101,836 110,394 102,530 94,189 96,446 98,107 91,874 80,941 73,582 See pages 231 to 233 for a glossary of terms Note: In December 2020, the Group has classified Global Business Power Corporation (“GBPC”) as a disposal group held for sale and as a discontinued operation.
Recommended publications
  • Metro Pacific Investments Corporation and Subsidiaries

    Metro Pacific Investments Corporation and Subsidiaries

    Metro Pacific Investments Corporation and Subsidiaries Consolidated Financial Statements December 31, 2019 and 2018 and Years Ended December 31, 2019, 2018 and 2017 and Independent Auditor’s Report SyCip Gorres Velayo & Co. Tel: (632) 891 0307 BOA/PRC Reg. No. 0001, 6760 Ayala Avenue Fax: (632) 819 0872 October 4, 2018, valid until August 24, 2021 1226 Makati City ey.com/ph SEC Accreditation No. 0012-FR-5 (Group A), Philippines November 6, 2018, valid until November 5, 2021 INDEPENDENT AUDITOR’S REPORT The Board of Directors and Stockholders Metro Pacific Investments Corporation Opinion We have audited the consolidated financial statements of Metro Pacific Investments Corporation and its subsidiaries (the Company), which comprise the consolidated statements of financial position as at December 31, 2019 and 2018, and the consolidated statements of comprehensive income, consolidated statements of changes in equity and consolidated statements of cash flows for each of the three years in the period ended December 31, 2019, and notes to the consolidated financial statements, including a summary of significant accounting policies. In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Company as at December 31, 2019 and 2018, and its consolidated financial performance and its consolidated cash flows for each of the three years in the period ended December 31, 2019 in accordance with Philippine Financial Reporting Standards (PFRSs). Basis for Opinion We conducted our audits in accordance with Philippine Standards on Auditing (PSAs). Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements section of our report.
  • Serving with Compassion and Care

    Serving with Compassion and Care

    5/2020 SERVING WITH COMPASSION AND CARE 2 First Pacific Group rises to the Covid-19 challenges 11 Profile: Dedicated and brave frontliners | 19 Digital gamechangers www.firstpacific.com THE VIEW – MAY 2020 THE VIEW GOES DIGITAL Welcome to the May edition of The View. We have launched a digital version online at www.firstpacific.com/press/theview. It highlights stories from around the group with videos to First Pacific Group bring our news, innovations and events to life. companies and their loyal The digital version can be enjoyed at your desk or employees have faced the pandemic conditions with a on your mobile phones wherever you are. Please strong sense of purpose. As click in and let us know your feedback. businesses, they innovate to serve their customers. Additional digital solutions created during the crisis will disrupt traditional ways CONTENTS in future. As responsible 1 A word from the Chief citizens, companies 2 First Pacific Group rises to the Covid-19 challenges volunteer and donate as 11 Profile: Dedicated and brave frontliners never before. As frontliners, 15 First Pacific 2019 annual results financial highlights they continue to excel in 16 President Duterte leads inspection of NLEX Harbor Link C3-R10 Section adverse conditions. 17 MPTC in strategic partnership in MUN in Indonesia This issue of The View is 17 NLEX Tambubong Interchange in service largely a record of inspiring 18 A giant rises – CCLEX bridge makes progress Group initiatives and united 19 Digital gamechangers action during Covid-19. 20 Fresh investment
  • FPC IR Handout 2019 03 26

    FPC IR Handout 2019 03 26

    Information Summary for Investors HKEx: 00142 Creating ADR: FPAFY long-term value www.firstpacific.com in Asia Copyright © First Pacific Company Limited 26 March 2019. All rights reserved. Consumer Foods Infrastructure Natural Resources Telecommunications First Pacific owns 50.1% of First Pacific owns 42.0% of First Pacific owns 31.2% of First Pacific owns 25.6% of Indofood and has an MPIC and has economic Philex and Two Rivers, a PLDT which in turn owns economic interest of 40.3% interests of 19.1% in PhiliPPine affiliate, holds 100% of Smart, its mobile in ICBP. Meralco, 26.2% in Global 15.0%. First Pacific holds an telecommunications Business Power, 47.3% of effective economic interest subsidiary. PacificLiGht, 22.2% of of 42.4% in PXP EnerGy, Maynilad, and 41.9% of 31.4% in IndoAgri, and Metro Pacific Tollways. 50.0% in Roxas HoldinGs. 2 Senior Management of First Pacific Joseph H.P. Ng John W. Ryan Stanley H. Yang Exec. Vice President, Chief Investor Relations Exec. Vice President, Manuel V. Pangilinan Chris H. Young Executive Director Group Finance & Sustainability Officer Corp. Development Managing Director and CEO & Chief Financial Officer Ray C. Espinosa Victorico P. Vargas Marilyn A. Associate Director Assistant Director Victorio-Aquino Assistant Director 3 Gross Asset Value of $5.45 Billion Investment Objectives Roxas Holdings o Unlock value, enhance cash flows to deliver $39 mln (0.7%) dividend/distribution returns, grow share price, and Philex finance further investment in value-enhancing PLP $230 Group $338 businesses, taking
  • Comprehensive Land Use Plan 2016 - 2025

    Comprehensive Land Use Plan 2016 - 2025

    COMPREHENSIVE LAND USE PLAN 2016 - 2025 PART 3: SECTORAL PROFILE 3.1. INFRASTRUCTURE, FACILITIES AND UTILITIES 3.1.1. Flood Control Facilities 3.1.1.1. “Bombastik” Pumping Stations Being a narrow strip of land with a relatively flat terrain and with an aggregate shoreline of 12.5 kilometers that is affected by tidal fluctuations, flooding is a common problem in Navotas City. This is aggravated by pollution and siltation of the waterways, encroachment of waterways and drainage right-of-ways by legitimate and informal settlers, as well as improper waste disposal. The perennial city flooding inevitably became a part of everyday living. During a high tide with 1.2 meter elevation, some parts of Navotas experience flooding, especially the low-lying areas along the coast and riverways. As a mitigating measure, the city government - thru the Local Disaster Risk Reduction and Management Office - disseminates information about the heights of tides for a specific month. This results in an increased awareness among the residents on the time and date of occurrence of high tide. During rainy days, flooding reach higher levels. The residents have already adapted to this situation. Those who are well-off are able to install their own preventive measures, such as upgrading their floorings to a higher elevation. During the term of the then Mayor and now Congressman, Tobias M. Tiangco, he conceptualized a project that aims to end the perennial flooding in Navotas. Since Navotas is surrounded by water, he believed that enclosing the city to prevent the entry of water during high tide would solve the floods.
  • Strategic Collaboration Between Sinarmas Land and Rong Qiao Group

    Strategic Collaboration Between Sinarmas Land and Rong Qiao Group

    PRESS RELEASE – FOR IMMEDIATE RELEASE Strategic collaboration between Sinarmas Land and Rong Qiao Group Singapore – 8 June 2018 – Sinarmas Land Limited ("SML" or "the Company") has, on 6 June 2018, entered into a strategic collaboration framework agreement with Rong Qiao Group Co. Ltd. ("Rong Qiao Group"), a Fuzhou-based real estate group. The collaboration will open up opportunities for subsidiaries of SML and Rong Qiao Group to enter into strategic alliances through acquisitions, mergers, land auctions or joint operations and development of real estate and related projects both inside and outside of China. The specific terms and structure of collaboration will depend on the individual project, and relevant announcements will be made in future where there is a binding agreement entered into. About Rong Qiao Group (www.rongqiao.com.cn) Rong Qiao Group was founded in 1989 by Sutanto Djuhar, a well-known Chinese entrepreneur born in Fuzhou, China. The core business of Rong Qiao Group focuses on real estate development in China with a strategy to provide integrated urban living facilities and it also has businesses in education, hotels, logistics management, port development and medical care. The "Rong Qiao" brand has been appraised as one of China's 'renowned brand' by the State Administration for Industry and Commerce and has won numerous awards and accolades in China. Rong Qiao is presently one of the top 18 brands amongst China's real estate enterprises and is ranked No. 28 amongst all of China's real estate enterprises. It is the 2nd largest and 138th largest private enterprise in Fujian province and in China nationwide respectively.
  • Corporate Profile First Pacific Is a Hong Kong-Based Investment Management and Holding Company with Operations Located in Asia

    Corporate Profile First Pacific Is a Hong Kong-Based Investment Management and Holding Company with Operations Located in Asia

    於亞洲創建 長期價值 第一太平有限公司 二零一零年年報 年報 二零一零年 Corporate Profile First Pacific is a Hong Kong-based investment management and holding company with operations located in Asia. Its principal business interests relate to Telecommunications, Infrastructure, Consumer Food Products and Natural Resources. Listed in Hong Kong, First Pacific’s shares are also available for trading in the United States through American Depositary Receipts. As at 21 March 2011, First Pacific’s economic interest in PLDT is 26.5%, in MPIC 55.6%, in Indofood 50.1% and in Philex* 31.3%. First Pacific’s principal investments are summarized on page 164. * Two Rivers Pacific Holdings Corporation, a Philippine affiliate of First Pacific, holds an additional 15.0% interest in Philex. Vision Strategy • Create long-term value in Asia • Identify undervalued or underperforming assets with strong growth potential and possible synergies Mission which bring strong cash flows • Manage investments by setting strategic direction, • Active management developing business plans and defining targets • Enhance potential • Raise governance levels to world-class standards at • Enrich lives the investee companies Contents Inside Corporate Profile, Vision, Mission 43 Chairman’s Letter 71 Financial Review Front and Strategy 71 Liquidity and Financial Cover 44 Managing Director and Chief Executive Officer’s Letter Resources 1 Financial Performance and 74 Financial Risk Management 46 Board of Directors and Recurring Profit 78 Adjusted NAV Per Share Senior Executives 2 Ten-year Statistical Summary 79 Statutory
  • Preparatory Survey on Promotion of TOD for Urban Railway in the Republic of the Philippines Final Report Final Report

    Preparatory Survey on Promotion of TOD for Urban Railway in the Republic of the Philippines Final Report Final Report

    the Republic of Philippines Preparatory Survey on Promotion of TOD for Urban Railway in Department of Transportation and Communications (DOTC) Philippine National Railways (PNR) Preparatory Survey on Promotion of TOD for Urban Railway in the Republic of the Philippines Final Report Final Report March 2015 March 2015 JAPAN INTERNATIONAL COOPERATION AGENCY (JICA) ALMEC Corporation Oriental Consultants Global Co., Ltd. 1R CR（3） 15-011 TABLE OF CONTENTS EXECUTIVE SUMMARY MAIN TEXT 1. INTRODUCTION .......................................................................................................... 1-1 1.1 Background and Rationale of the Study ....................................................................... 1-1 1.2 Objectives, Study Area and Counterpart Agencies ...................................................... 1-3 1.3 Study Implementation ................................................................................................... 1-4 2 CONCEPT OF TOD AND INTEGRATED DEVELOPMENT ......................................... 2-1 2.1 Consept and Objectives of TOD ................................................................................... 2-1 2.2 Approach to Implementation of TOD for NSCR ............................................................ 2-2 2.3 Good Practices of TOD ................................................................................................. 2-7 2.4 Regional Characteristics and Issues of the Project Area ............................................. 2-13 2.5 Corridor Characteristics and
  • Building a Strong Platform for Recovery, Renewed

    Building a Strong Platform for Recovery, Renewed

    2020 INTEGRATED REPORT BUILDING A STRONG PLATFORM FOR RECOVERY, RENEWED GROWTH, AND RESILIENCE Ayala Land’s various initiatives on stakeholder support, investment, and reinvention pave the way for recovery PAVING THE WAY FOR RECOVERY AND SUSTAINABLE GROWTH The ongoing COVID-19 pandemic and the natural calamities that of digital platforms to reach and engage buyers. Staff of APMC, struck the Philippines in 2020 are still being felt by Filipinos to this the company’s property management firm, stayed-in its managed day. Ayala Land’s swift response to face these challenges showed properties and communities while the enhanced community the resilience of both the company and its people. quarantine was enforced. In a strategic pivot, ALIzens executed a five-point action plan— Helping the Community protecting the workforce, financial sustainability, serving customers, Ayala Land employees raised PHP82.6 million under the Ayala helping the community, and thinking ahead towards recovery. Land Pays It Forward campaign to provide medical supplies and This action plan enabled Ayala Land, its employees, and its personal protective equipment to three COVID-19 designated communities to withstand the challenges and position for recovery. treatment hospitals. The company helped raise PHP425 million for Project Ugnayan and allocated PHP600 million in financial With the continued trust and confidence of its shareholders and assistance to more than 70 thousand “no work-no pay” contingent stakeholders, Ayala Land will count on bayanihan (community personnel during the critical first weeks of the quarantine. spirit) to move forward and pave the way for recovery and Recognizing the difficulties of its mall merchants, Ayala Land sustainable growth.
  • August 16, 2014  Hawaii Filipino Chronicle  1

    August 16, 2014  Hawaii Filipino Chronicle  1

    auGusT 16, 2014 HaWaii Filipino cHRonicle 1 ♦ AUGUST 16, 2014 ♦ Photography by Tim LLENA OPINION CANDID PERSPECTIVES LEGAL NOTES WHy GoveRnmenT Robin Williams Was alloWed To Keep Fails, and WHaT We an HonoRaRy Filipino GReen caRd sHould do abouT iT ameRican, Gone Too soon despiTe FRaud PRESORTED HAWAII FILIPINO CHRONICLE STANDARD 94-356 WAIPAHU DEPOT RD., 2ND FLR. U.S. POSTAGE WAIPAHU, HI 96797 PAID HONOLULU, HI PERMIT NO. 9661 2 HaWaii Filipino cHRonicle auGusT 16, 2014 EDITORIALS FROM THE PUBLISHER Publisher & Executive Editor e dodged two major bullets Charlie Y. Sonido, M.D. recently as Hurricanes Iselle Welcome, New Consul Publisher & Managing Editor and Julio left us largely un- Chona A. Montesines-Sonido touched. On the Big Island, General Jamoralin Associate Editors Iselle did inflict some dam- here’s a new consul general in town who brings a W Dennis Galolo wealth of experience as a foreign diplomat for the age, toppling trees, cutting Edwin Quinabo Philippines. With an early interest in learning about power to thousands of residents in Puna and Contributing Editor other cultures and languages, it seems Gina A. delaying the results of the Primary Election. Belinda Aquino, Ph.D. Jamoralin was destined for a career in the Philip- But for the most part, Hawaii was spared from widespread dam- Creative Designer T ages. However, we should be careful to not let our guard down Junggoi Peralta pine Foreign Service. She has traveled throughout the Asia-Pacific region and Europe on various assignments, in- especially since weather forecasters are expecting a busier than Photography cluding the Philippine Embassy in Tokyo, Japan and in Bucharest, normal hurricane season which extends through November.
  • Domestic Branch Directory BANKING SCHEDULE

    Domestic Branch Directory BANKING SCHEDULE

    Domestic Branch Directory BANKING SCHEDULE Branch Name Present Address Contact Numbers Monday - Friday Saturday Sunday Holidays cor Gen. Araneta St. and Aurora Blvd., Cubao, Quezon 1 Q.C.-Cubao Main 911-2916 / 912-1938 9:00 AM – 4:00 PM City 912-3070 / 912-2577 / SRMC Bldg., 901 Aurora Blvd. cor Harvard & Stanford 2 Q.C.-Cubao-Harvard 913-1068 / 912-2571 / 9:00 AM – 4:00 PM Sts., Cubao, Quezon City 913-4503 (fax) 332-3014 / 332-3067 / 3 Q.C.-EDSA Roosevelt 1024 Global Trade Center Bldg., EDSA, Quezon City 9:00 AM – 4:00 PM 332-4446 G/F, One Cyberpod Centris, EDSA Eton Centris, cor. 332-5368 / 332-6258 / 4 Q.C.-EDSA-Eton Centris 9:00 AM – 4:00 PM 9:00 AM – 4:00 PM 9:00 AM – 4:00 PM EDSA & Quezon Ave., Quezon City 332-6665 Elliptical Road cor. Kalayaan Avenue, Diliman, Quezon 920-3353 / 924-2660 / 5 Q.C.-Elliptical Road 9:00 AM – 4:00 PM City 924-2663 Aurora Blvd., near PSBA, Brgy. Loyola Heights, 421-2331 / 421-2330 / 6 Q.C.-Katipunan-Aurora Blvd. 9:00 AM – 4:00 PM Quezon City 421-2329 (fax) 335 Agcor Bldg., Katipunan Ave., Loyola Heights, 929-8814 / 433-2021 / 7 Q.C.-Katipunan-Loyola Heights 9:00 AM – 4:00 PM Quezon City 433-2022 February 07, 2014 : G/F, Linear Building, 142 8 Q.C.-Katipunan-St. Ignatius 912-8077 / 912-8078 9:00 AM – 4:00 PM Katipunan Road, Quezon City 920-7158 / 920-7165 / 9 Q.C.-Matalino 21 Tempus Bldg., Matalino St., Diliman, Quezon City 9:00 AM – 4:00 PM 924-8919 (fax) MWSS Compound, Katipunan Road, Balara, Quezon 927-5443 / 922-3765 / 10 Q.C.-MWSS 9:00 AM – 4:00 PM City 922-3764 SRA Building, Brgy.
  • PROCUREMENT of an INTEGRATOR for TECHNICAL and SUPPORT SERVICES CLUSTER of the 30TH SOUTHEAST ASIAN GAMES(SEA Games) for PHILIPPINE SPORTS COMMISSION(PSC)

    PROCUREMENT of an INTEGRATOR for TECHNICAL and SUPPORT SERVICES CLUSTER of the 30TH SOUTHEAST ASIAN GAMES(SEA Games) for PHILIPPINE SPORTS COMMISSION(PSC)

    BIDDING DOCUMENTS PROCUREMENT OF AN INTEGRATOR FOR TECHNICAL AND SUPPORT SERVICES CLUSTER OF THE 30TH SOUTHEAST ASIAN GAMES(SEA Games) FOR PHILIPPINE SPORTS COMMISSION(PSC) PUBLIC BIDDING NO.: 19-251-10 Fifth Edition August 2016 TABLE OF CONTENTS SECTION I. INVITATION TO BID ............................................................................3 SECTION II. INSTRUCTIONS TO BIDDERS .............................................................7 SECTION III. BID DATA SHEET ......................................................................... 38 SECTION IV. GENERAL CONDITIONS OF CONTRACT ....................................... 47 SECTION V. SPECIAL CONDITIONS OF CONTRACT ........................................... 63 SECTION VI. SCHEDULE OF REQUIREMENTS .................................................... 70 SECTION VII. TECHNICAL SPECIFICATIONS ..................................................... 76 SECTION VIII. BIDDING FORMS ........................................................................ 99 Section I. Invitation to Bid 3 INVITATION TO BID FOR THE PROCUREMENT OF AN INTEGRATOR FOR TECHNICAL AND SUPPORT SERVICES CLUSTER OF THE 30TH SOUTHEAST ASIAN GAMES (SEA GAMES) FOR PHILIPPINE SPORTS COMMISSION (PSC) PUBLIC BIDDING NO. 19-251-10 FUNDING SOURCE: GOVERNMENT OF THE PHILIPPINES (GOP) THROUGH GENERAL APPROPRIATIONS ACT OF 2019 1. The PROCUREMENT SERVICE invites PhilGEPS registered suppliers to bid for the following item/s: Approved Price of Lot Item Delivery Qty Item/Description Budget for the Bid No. No. Period Contract
  • Download a PDF Version of the Official Conference Proceedings

    Download a PDF Version of the Official Conference Proceedings

    Official Conference Proceedings ISSN: 2436-0503 “To Open Minds, To Educate Intelligence, To Inform Decisions” The International Academic Forum provides new perspectives to the thought-leaders and decision-makers of today and tomorrow by offering constructive environments for dialogue and interchange at the intersections of nation, culture, and discipline. Headquartered in Nagoya, Japan, and registered as a Non-Profit Organization 一般社( 団法人) , IAFOR is an independent think tank committed to the deeper understanding of contemporary geo-political transformation, particularly in the Asia Pacific Region. INTERNATIONAL INTERCULTURAL INTERDISCIPLINARY iafor The Executive Council of the International Advisory Board Mr Mitsumasa Aoyama Professor June Henton Professor Baden Offord Director, The Yufuku Gallery, Tokyo, Japan Dean, College of Human Sciences, Auburn University, Professor of Cultural Studies and Human Rights & Co- USA Director of the Centre for Peace and Social Justice Southern Cross University, Australia Lord Charles Bruce Professor Michael Hudson Lord Lieutenant of Fife President of The Institute for the Study of Long-Term Professor Frank S. Ravitch Chairman of the Patrons of the National Galleries of Economic Trends (ISLET) Professor of Law & Walter H. Stowers Chair in Law Scotland Distinguished Research Professor of Economics, The and Religion, Michigan State University College of Law Trustee of the Historic Scotland Foundation, UK University of Missouri, Kansas City Professor Richard Roth Professor Donald E. Hall Professor Koichi Iwabuchi Senior Associate Dean, Medill School of Journalism, Herbert J. and Ann L. Siegel Dean Professor of Media and Cultural Studies & Director of Northwestern University, Qatar Lehigh University, USA the Monash Asia Institute, Monash University, Australia Former Jackson Distinguished Professor of English Professor Monty P.