Biz Buzz: Ramon Ang’s premium
IF THE government has anyone to thank for Tuesday’s bidding results for the Cavite-Laguna Expressway (Calax) deal, it’s definitely San Miguel Corp.
While the conglomerate’s P22.2-billion offer lost to Metro Pacific’s surprise P27.3-billion bid, its crying foul over its disqualification in last year’s auction led to the current rebidding exercise. As we now know, this resulted in the government getting way more money than it could have expected.
SMC president Ramon Ang always maintained that their presence in auctions was good for the country as this made sure other players bid higher. This was on full display Tuesday.
With Metro Pacific’s significantly revised offer (it originally bid P11.33 billion in June 2014), the government walks away with an extra P15.6 billion, instead of accepting the highest qualified offer of P11.66 billion last year from the Ayala-Aboitiz tandem.
Was it the right thing? Hard to say anymore with everything in hindsight and the dazzling figures involved. But what’s certain is for waiting another 11 months, the government gained roughly P1.4 billion for every month of delay.
Ang simply said Tuesday that it was “good for the country.” With that money that could be used to finance social infrastructure and alleviating poverty—we hope—we are inclined to agree with him. Miguel R. Camus
Eeny, meeny, miny, moe
THE clock is ticking at the Department of Energy (DOE) as the search continues for an interim chief.
It may be recalled that Secretary Carlos Jericho Petilla has submitted his resignation and is staying on only until a new person is appointed to his post. It is effectively a short-term stint for the new secretary given that the elections are coming and a new energy secretary could very well be appointed by mid-2016.
There are presently four people eyed for the job: Two men and two women. Three are reported to be technically proficient but may not have the political savvy needed to deal with the controversies and lobbying that often beset the sector they would be tasked to manage. One is believed to have that knack for politics, but not the technical acumen needed to initiate innovative policies.
Even industry leaders admit that for all their calls for DOE to end the uncertainty about its secretary, they are also lacking in suggestions for the interim post.
“It’s hard to find someone suitable who would agree to such a short-term stint, with so much to do,” said one source.
But as Bureau of Customs chief Alberto “Bert” Lina, who just recently returned to the post, likes to say, “so what if it’s the last two minutes of the game? In basketball, the last two minutes can turn the whole game around.” Riza T. Olchondra
E-trikes at Apec
ELIZABETH Lee—formerly the de facto voice and face of the local automotive sector—may not be in the limelight as often as she used to be, but that doesn’t mean that she’s been inactive.
In fact, the “enfant terrible” of Philippine industries is busy making her presence felt in international events, most recently the Asia-Pacific Economic Cooperation (Apec) ministerial meeting in Boracay.
And while she’s no longer selling big SUVs, Lee is now in the business of making smaller, more environmentally sustainable electric tricycles.
At the ministerial meeting held last week on the world-famous resort island, zero-emission electric trikes were used to ferry ministers and delegates from the 21-economy strong Apec where—appropriately—climate change mitigation forms part of the growing challenge countries need to provide a solution for.
As a platform to showcase the country’s own efforts to help mitigate the effects of climate change by lowering our carbon footprint, Lee’s ZUM e-trikes (made by her EMotors Inc.) were used to serve the transport needs of the ministers and delegates.
Guillermo Luz, co-chair of the National Competitiveness Council and private sector coordinator for the National Organizing Committee, said: “The ZUM e-trikes deliver two key messages about the country: We are concerned about the environment and climate change and support electric vehicles. We also support the emergence of more local manufacturing in the country.”
Trade Secretary Gregory Domingo, who heads the Trade Ministerial Meeting, put at the center of discussions the significance of micro, small and medium enterprises (read: ZUM’s e-trikes) as the key to future growth that will benefit and strengthen ties among member economies.
“We support the initiatives of Secretary Domingo. We are honored to be part of the solution not only to lower carbon emissions but to provide a profitable means of livelihood for many Filipino entrepreneurs using our ZUM e-trikes,” Lee said.
Not a bad transition for someone who used to play way above the SME level. Now for a bigger challenge for Lee: Bringing her product into the mainstream. Daxim L. Lucas
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