Philippines Morning News For April 27

Exclusive: Industry builder REAPRA targets to invest $46m in SE Asia this year
Active business builder REAPRA Pte Ltd targets to invest up to $46.6 million (S$65 million) more in Southeast Asia this year and plans to become a $2-billion industry builder company in the next 10 years, said founder and CEO Shuhei Morofuji, and director CFO Takeo Matsuda in an interaction with DEALSTREETASIA.
— Deal Street Asia

Manila set to confiscate properties of 89,000 delinquent tax payers
Thousands of real properties in Manila are set to be confiscated by the local government and auctioned off if their owners fail to pay their taxes until June.
— Inquirer.net

Philippines: Phinma to divest stake in Fuld US for $3.6m
Phinma Corp, a listed holding firm in the Philippines, is divesting its shares in global consulting firm Fuld and Co Inc (Fuld US) for over $3.6 million.
— Deal Street Asia

San Miguel sets P554-billion toll road expansion
SAN MIGUEL Corp. (SMC) is embarking on a P554-billion expansion of toll roads under its joint venture with state-run Philippine National Construction Corp. (PNCC), with the development of these infrastructure projects set to start as early as next year.
— BusinessWorld Online

PHL expects conclusion of 3 agreements, declarations during ASEAN chairmanship
The Philippines is optimistic that two to three high-level agreements or declarations, including the framework for a code of conduct in the West Philippine Sea (WPS)/South China Sea, will be reached during its ASEAN chairmanship this year.
— Philippines News Agency

BFAR, NBI halt sale of corals in Pasay City
The joint team of the Bureau of Fisheries and Aquatic Resources (BFAR) and the National Bureau of Investigation (NBI) stopped the illegal sale of assorted corals and other prohibited species in Cartimar, Pasay City.
— Business Mirror

Philippines pins hopes on diaspora as US protectionism threatens
STRONG DEMAND for overseas Filipino workers (OFWs) in the Middle East should keep remittances flowing and help soften a possible blow from protectionist policies in the United States, a senior central bank official said.
— BusinessWorld Online

Metrobank sees robust commercial loan growth on gov’t infrastructure thrust
TY-LED Metropolitan Bank & Trust Co. (Metrobank) is bullish on the growth of its commercial loans for 2017, with its lending activities expected to get a boost from the government’s aggressive infrastructure spending.
— BusinessWorld Online

Free tuition only for smart poor students
Poor but “academically able” college students, especially those under the student financial assistance programs (Stufaps) and whose households are included in the conditional cash transfer program, will enjoy tuition-free schooling this year, according to the free college education policy.
— Inquirer.net

Q1 govt budget back to deficit after March slide
THE national government’s budget deficit came close to tripling in March from the preceding month as expenditure increased by twice the speed of growth in revenue collections, pulling the first-quarter position back into negative territory.
— The Manila Times

SM Investments shakes up management, prepares 3rd generation
Harley Sy, 57, handed on Wednesday, April 26, the chief executive role of SM Investments Corporation (SMIC) to Frederic DyBuncio, leaving the group’s senior management team without a member of the Sy family and preparing the 3rd generation to lead in the “near future.”
— Rappler

DA OKs import of 7M kilos of pork to stabilize market prices
Following the continued tight supply of pork, the Department of Agriculture (DA) has allowed the private sector to import approximately seven million kilograms of pork.
— The Philippine Star

SMC, PNCC ink P554-B deal for Skyway expansion
The infrastructure arm of San Miguel Corp. (SMC) and state-run Philippine National Construction Corp. (PNCC) have signed an agreement to expand the Metro Manila Skyway Stage 3 and 4 and other projects for P554 billion.
— The Philippine Star

Philippines set to have first subway system
The Philippines is set to have its first subway system as part of a 3.6 trillion peso (S$100 billion) three-year development programme that President Rodrigo Duterte hopes will kick off a “golden age of infrastructure”.
— The Straits Times

Philippines government agency to force online gambling firms out of Manila
In the Philippines, the government agency tasked with accrediting buildings for the nation’s numerous special economic zones has reportedly revealed that it wants to stop online gambling operators and their ancillaries from setting up shop in its certified Manila locations.
— World Casino Directory

Feature photo Giuliana Bencovich
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Philippines Morning News For April 27 added by Stella-maris Ewudolu on April 27, 2017
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Stella-maris Ewudolu

Journalist at AEC News Today

Stella-maris graduated with a Bachelor of Arts, Education from Ebonyi State University, Nigeria in 2005.

Between November 2010 and February 2012 she was a staff writer at Daylight Online, Nigeria writing on health, fashion, and relationships. From 2010 – 2017 she worked as a freelance screen writer for ‘Nollywood’, Nigeria.

She joined AEC News Today in December 2016.