BIZ BUZZ: Razon’s supermajority in Bacolod
As usual, whenever a large business conglomerate enters the scene in a bid to make local power or water utilities more efficient (and earn a decent return in the process), some entrenched interest always moves to block their progress.
This is what Enrique Razon Jr. is finding out (again) in his firm’s bid to enter into a joint venture agreement with Bacolod City’s power distribution utility Central Negros Electric Cooperative (Ceneco) whose offices were invaded last month by individuals opposing the deal with the billionaire’s Primelectric Holdings Inc.
But the deal’s proponents are not taking any shortcuts and conducted of a two-day plebiscite late last month among Ceneco customers.
Biz Buzz learned that Bacolod City residents have voted to overwhelmingly back the joint venture between Ceneco and Razon’s Primelectric Holdings. After the votes were tallied, it turned out that 78 percent of Ceneco clients who cast their votes were in favor of the deal, while only 22 percent were opposed to it.
That means a so-called “supermajority” of Bacolod City residents are in favor of the plans being laid down by Primelectric.
Of course, all this doesn’t mean that the critics of the deal will suddenly disappear or change their minds about it. In fact, word on the street is that they’re gearing up for another round of battle. But with a supermajority of customers on its side, the Ceneco-Razon tie up just gained a stronger hand.
—Daxim L. Lucas
Dingdong takes on delivery
Movie star and television host Dingdong Dantes has formed a partnership to take the food delivery “feud” to a higher level and pose a formidable challenge to big brands that now hog a large share of the multibillion peso industry.
Dantes’ last-mile delivery service Dingdong recently joined forces with local mobile app RiderKo to offer a homegrown alternative to the big boys such as Foodpanda and Grab.
Dingdong, the platform, made its first delivery on September 4, 2020—at the height of the pandemic that restricted a majority of Filipinos within the confines of their homes.
It has grown since and is now poised to accelerate even further to realize Dantes’ grand vision to be a comprehensive e-commerce and delivery platform that will benefit partner businesses and app users alike.
The strategic partnership with another startup RiderKo brings together a wealth of talent, knowledge, and innovation to meet the evolving needs of the local market. Backed up by a professional army of riders, the one-stop app is expected to address gaps that may hobble safe and efficient door-to-door delivery service.
Word is Dantes has even bigger plans for Dingdong’s future and is not averse to the idea of greater ownership of a Filipino-developed brand that shares his name.