Airport dreams
We all recall San Miguel Corp.’s stunning international airport perspective in Manila Bay—that massive structure with its sweeping roof architecture resembling the gentle waves nearby, right?
Well, it turns out it could forever remain a dream as SMC president, Ramon Ang, insisted they would not make any unsolicited proposal for the $10-billion project that aims to replace the aging Ninoy Aquino International Airport in Manila.
Ang said he only hoped the government would bid out the project under an open process. Ang’s comments are not surprising given the Aquino administration’s well-known bias against unsolicited deals.
Moreover, the transportation department was seeking the help of the Japan International Cooperation Agency, which identified Sangley Point in Cavite out of several other options (including Manila Bay, apparently) as the best location for a new international airport, insiders told Biz Buzz.
In other words, no SMC proposal means only Jica’s project, or any other proposal from now until the unknown future, would be considered.
But SMC has other things to focus on in the air sector, like turning around flag carrier Philippine Airlines. Steps in this direction include the recently expanded code-share agreement with Abu Dhabi’s Etihad Airways, leading some to speculate that the acquisitive Gulf carrier might itself invest in PAL, which has signaled its openness to taking in new money.
But apparently Etihad is not investing now, Ang and Etihad CEO James Hogan confirmed Wednesday, but that is not to rule out anything moving forward.
“In the future, kung maganda ang aming samahan [if we have a good partnership], why not?” Ang—known in business circles for his “can-do” attitude to deal making—quipped. Miguel R. Camus
Another MB candidate
Because Malacañang has yet to make known its choices for the two vacant slots on the Monetary Board of the Bangko Sentral ng Pilipinas, more names of potential aspirants keep coming up as the days go by.
And if our source is to be believed, a former Cabinet secretary of President Aquino—of the late Cory and the current P-Noy, to be exact—may be on his way back to government service. According to the grapevine, former economic planning secretary Cayetano Paderanga Jr. is among those being considered by the Palace to fill one of the two vacant MB slots.
Paderanga, of course, served as director-general of the National Economic and Development Authority under both Aquino administrations and, as such, has also sat on the MB before. His last government posting put him in charge of the Public-Private Partnership program where, as we understood it, he was also frustrated by the slow rollout of the President’s flagship economic program.
Meanwhile, we hear that former banker and Cabinet secretary Peter Favila—who recently ended his stint on the influential policy-making body—is raring to improve his skills on the golf course, from where he left off a few years ago.
Favila, having played a key role on the MB as BSP Governor Amando Tetangco’s able all-around “fix it” man, is also eager to play “lolo” to his grandchildren, now that he has more time for himself.
The banking community awaits Malacañang’s decision. Daxim L. Lucas
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