PLDT likely to pursue multimedia investments, says Moody's

MANILA – Moody’s Investors Service believes that Philippine Long Distance Telephone Co. (PLDT) will continue to pursue investments in multimedia, but warned that the dominant carrier should only go after large investments.

“PLDT is likely to continue to seek investment opportunities in the multimedia sector to strengthen its ability to deliver multimedia content through its broadband and mobile networks,” Moody’s said.

“Moody's views that unless PLDT moves towards large debt-funded acquisitions of major companies, the near-term credit impact of its investments in the multimedia sector will be immaterial,” the ratings agency added.

PLDT President Napoleon Nazareno earlier said the PLDT Group is pursuing multimedia initiatives through PLDT, Smart Communications, Sun Cellular, and Cignal TV.

On Tuesday, PLDT chairman Manuel V. Pangilinan said acquisition talks with GMA Network Inc. collapsed anew after its offer to buy a minority stake in the company expired in February.

“Our offer expired already. It expired in the first week of February,” Pangilinan said.

He added that the PLDT Group has yet to decide if it will revive talks to acquire the broadcasting company, which it had tried to acquire several times before.

“Well, we don’t know. I am getting tired,” Pangilinan said.

source: www.abs-cbnnews.com

MVP turns 66, gives and gets 'MDG' gifts

MANILA, Philippines -- Businessman Manuel V. Pangilinan on Saturday gave away what may best be described as a Millennium Development Goal (MDG) package--education, health, environmental services---as he marked his 66th birthday with province mates, colleagues and friends in Pampanga.

Pangilinan, who chairs TV5 and other companies, visited the Apalit Small Christian Community Medical Center where a medical and dental mission, including surgery for harelip and cleft palate patients, was conducted.

From there, he went to the Noah’s Ark Social Hall where members of the MVP Group of companies, including TV5 represented by president and CEO Ray C. Espinosa, gave him a special gift of 66,000 trees.

Environmental sustainability is the seventh MDG.

Through the PLDT Smart Foundation, Pangilinan also turned over P3.5 million to the midwives of the Kapampangan Development Foundation. The donation will be used to build 12 birthing clinics.

He also donated P850,000 to AGAPP (Aklat Gabay Aruga Tungo sa Pag-angat at Pag-asa), which is headed by Pinky Aquino Abellada, to build two “Silid-Pangarap,” classroom buildings equipped with books and school supplies, at the Apalit-Sampaga Elementary School.

Pangilinan also handed over wheelchairs, walkers and prosthetics to the Kapampangan Development Foundation.

source: interaksyon.com

Pangilinan 'in talks' with Chinese firm on Recto Bank

MANILA - A Philippine company said Tuesday it had held talks with a Chinese energy giant about jointly developing a potentially lucrative gas field in the hotly disputed South China Sea.

The reported negotiations between Philex Petroleum and China National Offshore Oil Corporation come as the two nations are locked in an increasingly tense territorial dispute over the area.

Philex Petroleum chairman Manuel Pangilinan said he met officials from state-owned CNOOC, China's biggest oil and gas producer, last week to discuss development of Reed Bank (called Recto Bank by the Philippines) in the South China Sea.

"I met with CNOOC in Beijing. We discussed SC 72," he told reporters, referring to the Philippine exploration block covering part of Reed Bank that was awarded to Philex.

Pangilinan said CNOOC had invited him to Beijing but refused to give further details about the substance or outcome of the discussions.

Philex Petroleum said last month the field at Reed Bank could hold 4.66 trillion cubic feet (TCF) of gas, nearly twice as big as the Philippines' largest known deposits.

Reed Bank is about 148 kilometres (92 miles) off the Philippine island of Palawan. But China claims nearly all of the South China Sea, even waters close to the coasts of Southeast Asian nations.

The Philippines last year accused Chinese vessels of harassing a Philex-contracted exploration vessel at Reed Bank, one of the first incidents in a series that has dramatically escalated tensions between the two countries.

In a speech before Congress last year, Philippine President Benigno Aquino vowed to defend the country's claim to Reed Bank.

However Aquino has also since expressed a willingness to jointly develop the area, as long as it is done under Philippine law.

The Philippines and China have for the past month stationed ships at Scarborough Shoal, more than 400 kilometres to the north of Reed Bank, in an effort to assert their sovereignty over that part of the South China Sea.

source: abs-cbnnews.com

MVP says 'critical mass' key to PPP infra projects

MANILA, Philippines - The group of Manuel V. Pangilinan is keen on participating in public-private partnership (PPP) projects that have a "critical mass" of beneficiaries.

During Tuesday's Philippine Investment Forum, Pangilinan reiterated his group's interest in three airports, namely the Ninoy Aquino International Airport (NAIA), Mactan International Airport and the Clark International Airport.

“The country is in need of infra projects. I think it’s up to the government to decide which they should privatize first. There is no assurance that anybody can win it. I am not saying that we will win all three or one. It’s going to be a competitive bidding. There are only three airports which I can think of that are attractive for the moment. I could be wrong,” Pangilinan said.

As for other airports, "there should be a critical mass of tourists before these are put in the auction block," he said, adding, "That’s the time to privatize.”

In this regard, building reliable commuter trains between airports and areas with huge populations should also form part of the government's PPP program, Pangilinan said.

“Why not use NorthRail because the alignment is there already. They should look at it, at least going to Nueva Ecija, Tarlac and up to Pangasinan because the NorthRail ends in Pampanga,” he said.

“We do need commuter trains because the beneficial effect is to decongest Metro Manila,” he said, citing his group's bid for the southbound extension of the Light Rail Transit Line 1.

The Pangilinan group also plans to expand the capacity of the Metro Rail Transit Line 3, as well as build a road that would connect the North Luzon Expressway and the South Luzon Expressway.

source: interaksyon.com