The Energy Development Corp. (EDC) is eyeing to be the world’s leading renewable geothermal energy provider, a notch higher than its No. 2 position now.
This was bared by Paul A. Aquino, EDC president and chief executive officer, during an investors’ briefing in Davao City recently in connection with the firm’s offering of P12-bllion worth of fixed-rate bonds.
Aquino said the company is among the handful of Filipino companies exporting their geothermal technology expertise. The Philippines is reputed to be the biggest consumer of geothermal energy in the world. It is likewise the model for alternative energy provision for developing countries.
In the bond offer, officials of the EDC and its partner companies, assured would-be investors that their money would be in good hands as the 5.5-year bonds, or those ending by June 4, 2015, would earn 8.64%, while the seven-year bonds ending December 4, 2016 would earn 9.33%.
Tapping the BPI Capital Corp. for the offer, the company first sought a P6-billion worth of bonds with the target of increasing subscription by P4 billion. However, the firm decided to increase the bond worth because of strong investment demand, a company statement said.
Part of the net proceeds from the bond offer, about P11.88 billion, would be used to partially pay its maturing 22-billion yen Miyazawa II loan, a package payable on June 26 and December 26, 2010 with a rate of 2.37% annually.
During the briefing, company officials expressed hope that the company could hit the target as it even oversubscribed by two-and-a-half times its P7.5 billion worth of fixed-rate bonds it offered last June.
“We are one of the very, very few companies that export the technology,” Aquino said in a huddle after the presentation of the bond offer.
At present, he said, the company is positioning itself in other countries that need its expertise, including Chile, Kenya, India and Iran.
Although it wanted to enter Indonesia because it has the potential of becoming the “biggest producer of geothermal energy due to its dead volcanoes,” Aquino said the company is cautious because policies of that country have been changing from time to time.
He explained that the company wants to invest in a country where policies are not stable because of the danger that the investor faces when the policies are changed. The company is looking at tapping about 20,000 megawatt of geothermal power in Indonesia, a company press statement.
The company, 60% of it is controlled by the First Gen Corp. of the Lopez family, produces about 1,199 megawatts of geothermal energy annually and is the second producer of geothermal energy in the world, next only to multinational Chevron which produces 1,273 megawatt of geothermal energy annually.
Part of the geothermal energy that it generates comes from the geothermal power plant in Mount Apo, the highest peak located at the boundaries of North Cotabato and Davao Region.
Acquired from the government during the privatization of the Philippine National Oil Co.-Energy Development Corp, the company is also bidding for the acquisition of three government-operated geothermal power plant with a combined generation capacity of 455.5 megawatts.
On its own, the company is also developing another 600 megawatts of geothermal energy “over the next decade,” its press statement said. However, Aquino said it is harder to develop smaller geothermal fields considering that the capital expenditure is bigger and the production is smaller.
EDC eyed as world’s top provider of renewable geothermal energy
SSS buys 2.8% stake in Phoenix Petroleum
The Social Security System (SSS) has bought an initial 2.83 percent stake in independent oil company Phoenix Petroleum for P42 million.
In a disclosure to the Philippine Stock Exchange, Davao-based Phoenix Petroleum said it has signed a Subscription Agreement with SSS for the purchase of up to 10 percent of the company’s outstanding capital stock.
Phoenix said for the initial tranche, SSS has subscribed a total of 7,500,000 common shares at P5.60 per share, representing about 2.83 percent of the outstanding capital stock at present.
The Subscription Agreement will be valid for one year from the date of execution, with an undertaking not to dispose, transfer or sell the subscribed shares for a period of six months from the date of purchase.
“There is no guaranty that subsequent primary issuances to the SSS, if they pursue any further purchases, would bring the aggregate purchases to the agreed-upon ceiling. Any prospective number of shares to be subscribed would depend on market conditions and will entirely be at the discretion of the SSS,” Phoenix Petroleum said.
The company earlier said it was eyeing strategic business partners and financial investors to help them become the number one independent oil company.
“At this juncture, Phoenix Petroleum is open to engaging prospective business partners who will participate meaningfully in our next stage of growth,” Phoenix chief financial officer Francis Caluag had said.
He said the capital infusion from partners will be used for additional working capital needed to support the expansion of the company’s retail distribution network.
“Phoenix Petroleum would like to take advantage of the growth opportunities obtainable from building additional depots and retail stations nationwide in line with our objective of being the leading independent station in retail,” Caluag said.
“We are conscious of our gearing as we grow the business and we want to ensure that we have sufficient liquidity for both current operations and for capital spending. With our expanded network, we also need to ensure a reliable supply of quality fuel and this requires us to diversify our fuel procurement from both domestic and regional sources,” he said.
Phoenix Petroleum is engaged in the trading of refined petroleum products, lubricants, chemicals and an array of car care products and accessories. The company also provides services such as depot operation, depot storage, logistics, into-plane and allied services.
It was listed on the Philippine Stock Exchange in July 2007, the first petroleum company to do so since the passage in 1998 of the Downstream Oil Deregulation Act.
Computers among biggest pollutants
by Lovely A. Carillo
If you think that computer donations from multinational companies and politicians, let alone foreign governments, to poor Filipino schools and communities are a boon then you better think again. The inconvenient truth is that these computers, which usually come with the old cathode-ray tube or CRT monitors, are highly toxic.
If you are among those who have developed an attachment to your CRT monitor even if your office or home has become too small because of its bulk, then you may want to consider some of these reasons why you should go ahead and dispose of them.
For one, CRT monitors are no longer fashionable primarily because they are bulky and are virtual energy guzzlers, consuming a minimum of 150 Watts for a 17-inch monitor. They emit harmful radiation as well as cause eyestrain and fatigue among others.
CRTs are those monitors that look pretty much like the old television sets that came in a very bulky form. They should be differentiated from the plasma and LCD monitors which make use of new digital technologies.
“We just don’t realize how toxic these old computers are and how much pollution they are causing,” Davao City Chamber of Commerce and Industry, Inc.-Information and Communication Technology (DCCCII-ICT) consultant Andre Fournier said. Hard as it may seem, Fournier admitted that the ICT sector is one of the major pollutants not only in the city but the world over.
Research shows that on the average, CRT monitors have four to eight pounds of lead content, a highly toxic heavy metal.
It is for this reason that the ICT sector is campaigning for the total phase-out of all CRT monitors in the city in one to two year’s time. Fourneir said CRT monitors consume so much energy that you can just imagine the power consumption of internet cafes considering the number of units they use in their shops.
“We were asked by City Hall about energy saving tips and the simplest we can give is for all computer users in the local government to turn off their monitors during lunch breaks,” he said.
Proper e-Waste disposal
Alongside the campaign for the total phase-out of the CRTs is the chamber’s drive for responsible disposal of e-waste. The campaign, which is being done in cooperation with SM City Davao, has designated the first Saturday of every month as Waste Market Day. “If you have CRT monitors or other e-waste just lying in your household or neighborhood then better sell them to the accredited e-waste buyers at SM City,” he said.
“CRT monitors are not only heavy energy users but they are also very difficult to dispose of since you cannot just throw them away,” Fournier said. E-waste, like CRT monitors, are highly toxic and can pollute the environment if not disposed of properly, he said adding that a lot of people working in factories producing computers and even other electronic materials usually experience some form of illness after working in the factory and this shows.
Earth 911, a non-government environmental advocacy group, earlier reported that e-waste volume all over the world is estimated at about 40 million metric tons, a year. This type of waste includes not only personal computers but also iPods, digital cameras, mobile phones and the like, Fournier said.
City Councilor Leonardo Avila III, chairman of the Council committee on environment, said e-waste contributes to the city’s garbage problem and people should be educated on its proper disposal. He said it is important to know which of the garbage can be reused or recycled so that the community does not get buried in an avalanche of toxic waste.
Fournier said the collected e-waste are not just thrown away; instead, these are collected and then assessed for possible recycling. There are several parts that can still be recycled such as the chips. The motherboards are, however, very poisonous, he said, and should be disposed of properly.
By doing this, he said, people are not only helping save energy but are also helping in the protection of the environment.
The ICT sector is not, however, content with this, he said, adding that there are continuing talks and negotiations with other sectors in the community to come up with a more pronounced e-waste collection and disposal campaign so that they can make a difference. People should be made aware of the pollution that their computers and other e-waste can cause and they should be taught about proper disposal of these waste products.
Fournier admitted it is hard to account for the number of CRT monitors still being used in the city. With individuals owning one or more computers, it is very difficult to determine how many computers are actually being used in the city’s private sector.
There is, however, a plan to monitor the number of computers being used by sectors that are being regulated by the government, such as internet cafes. Effective January next year, all internet cafes will be asked to answer a survey about the computers and laptops they own upon registration of their businesses.
The $20 billion market for CRTs (as of 1999) is getting smaller as the world becomes aware of how toxic they are, This is evident with the merging of rivals LG Electronics and the world’s largest CRT manufacturer –Philips Electronics. Add the closure of the $500 million per year CRT operation of Hitachi and you will get the big picture. Indeed, your CRT monitors will soon because part of the Jurassic era and you should dispose of them the soonest possible time.
Golfer of The Week – Tebor Marcelino
Tebor is a very familiar name at all golf courses in Davao.
Know why?
This class A golfer, most of the time, finds his way to the winner’s stage.
“Maayo gyud mo dula,” said Philip Daytic, Rancho Palos Verdes Golf and Country Club’s membership committee in-charge.
Marcelino, over-all gross champion of the Monthly Medal Tournament, led Palos Verdes along with teammate Anthony Sasin to victory in the Sportswriters Division of the 59th Philippine Airlines Interclub Golf Tournament, among others.
Marcelino’s victories in Davao City and even outside of Davao have inspired the young golfers to pursue excellence. Tebor takes golf seriously, and it is not surprising that you find his name in the leader board during tournaments.
“The way siya mo bunal, steady ang putting, gina tanaw na siya sa mga batang golfers diri sa Palos,” Daytic added.
And once you play good on a tough course like Palos, it will no longer be that tough when you start playing in other golf courses in the country.
Tebor is a jolly person, but during a golf game he transforms to a serious player. “Kapoy ang golf, ma sayop ka, imo ra nang hinimoan,” said the outstanding golfer.
And once mistakes are committed, a report to the driving range will repair it.
“Ana gyud nang golf,” he tells friends.
But patience in practice and during tournaments will almost always bear fruit — a trophy.
“Basta importante, focus lang sa dula,” he added. [Moses P. Billacura]
Clean Slate – Butch, Al Ryan and Vic’s junior program
by Moses P. Billacura
Sen. Manny Villar has bankrolled billiards tournaments even before we learned that he is running for president.
To intensify his presence in the sports arena, he goes into swimming and basketball and has even appointed Darren Evangelista of the Evangelista Aquatics and Sports Management Inc. to head the organizing committee in Mindanao.
Good luck Mr.Senator.
* * *
Suddenly, sports tournaments, left and right, are being organized.
It is obvious. The May 2010 election is fast approaching.
But we hope that even after the polls and specially if the candidates are elected, they will continue holding competitions and organize more tournaments specially for the youth.
* * *
Butch Ramirez has established the Basketball Scientific Training Center (BSTC) even before the Milo BEST Training started.
The BSTC stopped when Butch joined the government service but when he went home after a stint in the Philippine Sports Commission, he went back to basketball coaching under the auspices of a non-government organization he established which is called the Sports for Peace Mindanao Inc.
This time, it is the out-of-school youth and the street children that are being trained.
This is something new.
The Sports for Peace Mindanao Basketball Clinics started last summer and because of the invitations of barangay leaders, Butch and his volunteers go the areas to start teaching basketball for free with a plus.
The plus is that the parents who bring their children to the clinics are also being taught the basics of sports leadership. Butch is not only back to basketball but is back teaching again.
Butch taught at the Ateneo de Davao University where he also ran the sports program before joining the national sports agency in November 2000.
“Maayong pamatasan importante na sa isports,” Butch would tell them. And so, when instructions are given, they follow and if they don’t they are told to go home. Fortunately, they listen and finish the basketball session.
It was a beautiful sight.
* * *
Al Ryan Alejandre has been backing teams through the DMMA College of Southern Philippines Sports Scholarship Program.
Not all colleges in Davao have a sports scholarship program but for a small college like DMMA, Al Ryan managed to keep the program.
DMMA is a member of the Private Schools Athletic Association (PRISAA) so Al Ryan travels with his athletes when they compete in the National PRISAA Championships.
During a national championship, a player asked “Who is that guy?” pointing his finger to Al Ryan. The other athlete would reply, “His family runs the DMMA”.
“Why is he staying in the classroom with the athletes? He is an official, he should stay in a hotel,” the player responded. The athlete replied, “He is one of us”.
Lining up to use the bath room and the shower room with the other athletes may sound weird to you. But for Al Ryan he does not mind.As leader of the DMMA athletes, he showed that he can live with them, eat with them, rejoice with them in victory and even cry with them when they lose.
No wonder, DMMA athletes are excelling in the field of sports.
* * *
Vic Calanas of the Metro Davao Table Tennis Association (Medatta) has been doing the work for Friendee Nunez as secretary-general. Friendee got promoted as head teacher in a far-flung school so Vic took over for the meantime.
Vic was particularly impressed with how table tennis development has greatly improved in Cebu and Iloilo. Their counterparts there were able to find well-meaning and moneyed table tennis lovers who hired trainors to handle their youth program.
The malls became also their playing venues in order for the public to be aware that table tennis is a very exciting and attractive sport for the youth.
Vic wished that this kind of program will happen in Davao City.
Dr.Louie Metran, the Medatta president, is not a rich sports leader but I am sure that when he taps the right people to do a similar youth program, we will have a new Michael Dalumpines to build. Michael was the best junior player from Davao City who became a member of the national team in the late 1980’s.
After that, I have not heard of any Davao City player who became a member of the national squad.
It is time to have a year-round junior table tennis program to produce top caliber athletes who will soon become members of the national squad and earn a spot to represent our country to the Southeast Asian (SEA) Games. And if he gets lucky, he qualifies to the Asian Games and maybe, who knows, in the Olympics.
Vic as acting secretary-general of Medatta can start working on his wish. There are people in Davao City who will be willing to help you.
* * *
Manong Tony Ajero, our editor in chief and Greg Deligero, our associate editor, paid their last respects to Reynaldo Magno Teves at the Cosmopolitan Funeral Parlor one evening.
The room was overflowing with flowers that surrounded his casket.
I could not forget Sir Rey during one reunion of San Pedro Express staff called by former publisher Leonilo “LGC” Claudio. He brightened the gathering with his singing and guitar playing.
In the next Express gathering, he will be dearly missed. Our condolences to the family of Sir Rey.
Dabawenyo survives Kinabalu Climbathon
Davao City’s Mel Andrew Basilio brought home a finisher’s medal by surviving the grueling 23rd Mt.Kinabalu International Climbathon, known as the world’s toughest mountain race in Malaysia.
Basilio competed with 500 other athletes from 33 nations as part of the 23-man Philippine Sky Runners squad on October 24 to 25. He crossed the finish line at 68th place in the men’s open division.
More than just the race, Basilio’s participation turned out also to be a call for help to support the 162 Manobo pupils enrolled at the Cabagbahangan Elementary School in Marilog who cannot afford to buy school supplies.
Basilio created an awareness and raised the needed funds to buy notebooks, ballpens, pencils and other school materials which he formally turned over to Edwin Rosales, the school principal,during the DSA Forum, November 12, at the Tower Inn.
Rosales said that when Basilio learned of their predicament, the athlete made the initiative of responding to the problem. Both are colleagues in the Boy Scouts of the Philippines movement.
“We are very thankful that we have Mr.Basilio as supporter to our pupils,” said Rosales, who along with five teachers take care the educational needs of the Manobo pupils. [MPB]
Abellera F’ship kegfest Nov.22
The Nilo Abellera Friendship Tenpin Bowling Tournament gets going on November 22, 1 p.m., at the B3 of NCCC Mall.
Spokesman Paul Rabe of the Durian Tenpin Bowlers Association (DUTBA) said that the open tournament will have six games and the top four players will advance to the finals.
Registration fee is only P800.
The champion pockets P7,000 while the first runner-up will receive P5,000, P3,000 to the second runner-up, P2,000 to the third runner-up and P1,000 to the fourth runner-up. [MPB]
During the DSA Forum, November 12, at the Tower Inn, Rabe said that 30 to 40 players are expected to see action but they are expecting more entries.
Sarangani race elims for Tour Mindanao
The Tour de Sarangani serves as an elimination race for a bigger competition dubbed the Tour Mindanao next year.
PhilCycling vice-president for Mindanao Salvador Paholio Jr. said that the Sarangani competition on November 29 will be the first of the three races prior to the Mindanao finals. The Sarangani bikefest starts from Maitum to Glan.
Koronodal and Gen.Santos Cities are the two other elimination legs, he said.
Guesting at the DSA Forum, November 12, at the Tower Inn,Paholio said he is very grateful that Radio Mindanao Network (RMN) has partnered with PhilCycling in the holding of the race to keep cycling in the island alive.
RMN has started organizing cycling races since 1997 in Davao City and expanded to the holding of the recent Race for Peace Mindanao.
The Tour Mindanao team champion wins P15,000, P12,000 to the first runner-up, P10,000 to the second runner-up, P8,000 to the third runner-up, P6,000 to the fourth runner-up and P4,000 to the fifth runner-up. The individual category champion gets P5,000, P4,000 to the second placer, P3,000 to the third placer, P2,000 to the fourth placer and P1,000 to the fifth placer.[MPB]
Yap, Rizon shine in 5th Chamber’s Cup
Glenn Yap and Rodrigo Rizon topped the class C division of the 5th Chamber’s Cup, November 7, at the Rancho Palos Golf and Country Club.
Yap scored 44 points to clinch the net champion’s title while Rizon’s 27 gave him the gross runner-up crown.
Patrick Castro finished gross runner-up with 21 points and Nonoy Ponce lost to Yap by just one point to settle for the net first runner-up honors.
In class B, Kureish Samanodi fired 31 points to bring home the gross title, winning by two points over runner-up Louie Rabat. Rey Yumang shared the limelight with a victory in the net division with 42 points, two points better than runner-up Kang Ho Bong.
Joe Marfori’s familiarity with the course handed him the class A gross title with 34 points after defeating runner-up Monchit Mackay of Nike who had 31 points. Oscar Rebosura tallied 38 points for the net crown, posting a one-point win over runner-up Faisal Samanodi.
The tournament was sponsored by HMM Holdings Inc., Prime Advertising and Signs, Phoenix Petroleum Phils., John Y. Gaisano jr., Honda Megamotors Corp., Louie Brodeth, Anflo Group of Companies, Philippine Airlines, Davao Golden Hardware, Dole Stanfilco with the support of Camp Holiday Resort, Davao Integrated Port and Stevedoring Services Corp., Walton and Company Inc., AMS Group of Companies, Polar Fresherv Inc., Modern Time Enterprises Inc., Sagrex Corp., Kar Asia Inc., Myrna P. Valdez, Banco de Oro and the backing also of Marco Polo Hotel Davao, Chateau del Mar Resort, Grand Men Seng Hotel, Garden Oases Resort, Swiss Deli/Picobello, Shiatsu Zhia Ya, Casa Letecia, FM&A Suites, Microtel Davao, Claude’s de Ville Cafe, Apo View Hotel and Hanoi/Tsuru. [Moses P. Billacura]