Business Roundup
Easter Petroleum ‘Combo’ station for franchising
THE EASTERN Petroleum Group is offering a new franchising package that combines the usual pump stations with retail operations for EC Gas (household cooking fuel).
“We’re going to have more affordable outlets to be called ‘combo’ stations to offer EC gas, which has 125 outlets now,” company chair Fernando L. Martinez said.
Besides combining EC Gas and motor fuel product offerings, the franchise package lowers the investment risk because it will be a 50-50 investment with Eastern Petroleum. The investor needs to fork out only about P2.5 million.
“It will involve a 10-year franchise agreement with us. So it will be more affordable with a faster return on equity,” Martinez said. “We are targeting about 100 combo stations in the next two years.” Riza T. Olchondra
Prestigio Global picks PH as hub
EUROPEAN consumer electronics manufacturer Prestigio has handpicked the Philippines as its sales and distribution hub in the Asia Pacific, as the country is deemed one of the fastest growing and most competitive markets for mobile devices.
Prestigio Global has tapped Veracity Synergy Solutions, a telecommunications services and solutions provider in the Philippines, as the official and exclusive distributor of its mobile phones and other consumer electronics products in the country.
Veracity chair and president Arnold Jimenez said the plan was to first establish the Prestigio brand in the Philippines and then expand the business throughout the rest of Asia.
Prestigio launched last week six models under the Prestigio Multiphone series with prices ranging from P5,699 to P13,899.
Prestigio phones are currently available online at Lazada. Amy Remo
Electrification program seen hitting goal
THE NATIONAL Electrification Administration and its partner-electric cooperatives have energized more communities under the Sitio Electrification Program (SEP).
In a project update, NEA said electricity was made available to 4,744 more sitios in the first semester of 2015.
For the period, Region VI (Western Visayas) energized the most number of sitios at 680. Among the ECs, Cebeco I electrified the most number of sitios with 237.
In October 2011, the state-run agency committed to provide electricity to 32, 441 sitios until the end of President Aquino’s term in June 2016.
As of June 30, 2015, 78 percent of the target areas have been energized which cost P14.608 billion or an average of P578,411.72 per sitio.
Regions III (Central Luzon) and Region IV-A (Calabarzon) have posted the highest SEP accomplishment at 89 percent. Riza T. Ochondra
Agata nickel ore shipments down
FALLING demand and prices drove Agata Mining Ventures Inc. (AMVI) to send out only one shipment of nickel ores in the past two months following three cargoes in April alone.
According to TVI Resource Development (Philippines) Inc., operator of the Agata mine, the latest shipment consisted of 59,071 wet metric tons higher nickel grade saprolite ore and is expected to ring up $1.83 million.
TVIRD said in a statement that no shipments were made in May due to low demand for lower grade limonite ore, prices of which have fallen from an average of $22 per ton in early 2014 to $11 per ton since March 2015.
Also, market prices for all grades of Philippine nickel laterite ore “have fallen precipitously” since the Agata mine Agusan del Norte started operations in October 2014.
TVIRD added that for saprolite ore, prices have fallen from more than $100 per ton in early 2014 to a range of $31 to $33 per ton since March 2015. Ronnel W. Domingo
