Biz Buz: Supercar of the North
The Aquino administration has used the influx of ultra-luxury car brands into the country—among them the Bentley and the Rolls-Royce and exotic cars such as Lamborghinis and Maseratis—as a concrete validation of the country’s rising economic status.
So how will the spin masters in Malacañang take the news that a Filipino is one of a few lucky individuals able to snag one of only 499 LaFerraris built by the prancing horse carmaker?
This is Ferrari’s first supercar in more than decade after it unleashed the Enzo 12 years ago. It has been dubbed as the fastest and most powerful Ferrari production car and the most expensive at $1.6 million each. Bugatti and Pagani should have “we’re not worthy” bumper stickers beside this beast.
Our Buzzards said that, to be given an allocation of the soldout LaFerrari, you should at least own five Ferraris registered under your name.
Our Buzzards further tell us that this Filipino LaFerrari owner is neither a billionaire nor a rich businessman but a powerful politician from the North. The LaFerrari owner is reportedly shipping in his baby soon and will have it parked inside one of the country’s economic zones. I know you all have stock guesses on who that powerful politician is, but your first answer is most likely wrong.–Gil C. Cabacungan Jr.
MVP think tank’s pre-2016 rebrand
Advisory and research consultancy group Stratbase—a group with close ties with the business interests of businessman Manuel Pangilinan—is relaunching itself as the Albert del Rosario (ADR) Institute on Strategic and International Studies as it enters its second decade as a think tank.
The institute is set to be formally launched on Nov. 21 at the Manila Polo Club during ceremonies marking the 10th anniversary of Stratbase.
The group’s board represents a multisectoral spectrum of leaders and prominent personalities including Metro Pacific Investments Corp. chair Pangilinan; honorary chair of the Philippine Chamber of Commerce and Industry and president of the Employers’ Confederation of the Philippines Edgardo Lacson; Chamber of Mines of the Philippines president Benjamin Philip G. Romualdez; De La Salle University International Studies Department professor Renato de Castro; former dean of the University of the Philippines College of Law and publisher of the Philippine Daily Inquirer Raul Pangalangan; professor emeritus at the Cesar E.A. Virata School of Business, UP Diliman Epictetus Patalinghug; geologist and professor of Geology and Environmental Science in UP Diliman Carlos Primo “CP” David; director of the Robredo Institute of Governance Francisco Magno, and Ernest “Ernie” Bower, senior adviser and Sumitro chair for Southeast Asia Studies at the Washington-based Center for Strategic and International Studies (CSIS).
“We’re relaunching SRI as the ADR Institute to reflect a shift to a more regional outlook in our governance, socio-economic and other policy work and in light of the continuous rise of East Asia as a major global player whose economy could soon surpass that of the United States and Europe combined,” said Stratbase founder and managing director Victor Andres Manhit.
The new institute is also a tribute to current Foreign Affairs Secretary Albert F. del Rosario who was Stratbase chair prior to his appointment to the Cabinet of President Aquino.
Makati-based Stratbase was founded in 2004 and has become an advisory and research consultancy group with involvement in political, business and investment counseling; campaign strategy; strategic issue management and research; market intelligence and assessment, and public advocacy.
At present, Stratbase is chaired by Jose Ibazeta, who has served at one time or another as president of the Power Sector Assets and Liabilities Management Corp. (PSALM), acting secretary of energy and board director of the Andres Soriano Corp. Its board members include businessman Antonio “Tony Boy” Cojuangco, banker Octavio Espiritu, Manila Economic and Cultural Office managing director Antonio Basilio, RFM Corp. vice chair Fritz Server, and lawyers Enrique Perez and Rosito Manhit.
The first major project of the ADR institute’s senior fellows will be a three-year program on “US-Philippine Strategic Initiative,” in partnership with the Washington DC-based Center for Strategic and International Studies.
In line with the 2016 national elections, the ADR institute will be working on a policy research project titled “A Strategic Agenda for National Development: Breaking the Political Cycle.”–Daxim L. Lucas
Overseas gaming play
Bloomberry Resort Corp.’s bid to expand to new markets like South Korea is taking shape. Negotiations are in an “advanced” stage for Bloomberry to enter Korea, industry sources said. If successful, Bloomberry may be able to replicate the Solaire Resort & Casino prototype to one of Korea’s island hotspots.
In an earlier disclosure, Bloomberry said that Korea was “just one of several prospective jurisdictions outside the Philippines that Bloomberry is looking at, but there is nothing definitive at this point.”
Gaming stocks offer a play on emerging consumer themes given that casinos elsewhere in the world historically deliver very high compounded annual growth rates in their first four years of operations, said BPI Securities’ Michaelangelo Oyson. He noted that stocks like Bloomberry and Melco Crown, classified by the brokerage house as “cameo punts”—as opposed to megastar blue chips and value stocks—could also be part of a rising consumer thematic play since they could benefit from increased discretionary spending.
In the case of Bloomberry, Oyson said the Ricky Razon-led firm had shown through Solaire that it could operate a casino and might thus be in a good position to enter new markets like Korea and Russia.
“We have seen how Mr. Razon operates,” Oyson said, commending how the billionaire delivered an international strategy through port operator International Container Terminal Systems Inc.–Doris C. Dumlao
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