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PSEi News: MPI, 6 regional airports for bidding,

Jollibee Foods Corporation JFC: To open 12 Red Ribbon branches in Mindanao Jollibee Foods Corp. will open 12 Red Ribbon stores in Davao City, Cagayan de Oro, and Zamboanga next year. Among the first to be opened within the first quarter of 2017 are two branches in shopping malls in Davao City. JFC further noted that the mall-based location is chosen as consumers are already inside the mall and it already has an established market, as opposed to when you will still have to invest on free standing stores. The stores will be designed with a homey concept which uses wood components and Filipino family portraits. (source: BusinessWorld)

Filinvest Land FLI: Allots over Php10Bil for Mindanao expansion Filinvest Land, Inc. is set to invest an additional Php5Bil in the next three years in Mindanao as it expands its Spatial Medium-Rise Building (MRB) portfolio with new projects in South Cotabato and Davao City. This is on top of the Php4.7Bil worth of ongoing land development including the One Oasis project in Cagayan de Oro, bringing total projects of FLI to 17 that are spread over 7 towns and cities. FLI has acquired a 7.5-hectare site in South Cotabato and a 17-hectare site in Davao City for its economic housing projects in which both are targeted to launch within 4Q16. Furthermore, projects include two new MRB condo communities in Davao City. Namely, the Centro Spatial, a 1.7-hectare mid-rise condominium enclave set to rise in the center of Davao City will have five 8-storey buildings that provide spacious units and complete amenities, and a 2-hectare site in Matina, Davao City which will likewise offer spacious units at affordable prices. (source: Inquirer)

Metro Pacific MPI: Expresses interest in Php74.6Bil NAIA PPP MPI stated that it is interested to bid for the project to upgrade as well as handle the operations and maintenance of the NAIA airport which is estimated to cost Php74.6Bil. This was approved during the first meeting of the NEDA Board last September 14. The project is said to be doable within three years and is expected to improve the safety and security as well as maximize the capacity of the NAIA airport. The concession period is for 15 to 20 years inclusive of the design and construction period. Procurement for the project is expected to begin soon and the award and signing of the concession agreement is targeted to be completed by September next year. (source: PhilStar)

Economy: Six regional airports up for bidding The Department of Transportation (DOTr) called on private contractors to bid for six regional airports, namely General Santos International Airport (Php61.80Mil), Masbate Airport (Php75.85Mil), Surigao Airport (Php162.56Mil), Ozamiz Airport (Php267.45Mil), Tagbilaran Airport (Php60.06Mil), and Virac Airport (Php75.73Mil). Most of the budget will be used to overlay asphalt on the runways while a portion will be allocated for the shoulder grade correction of the two airports in Masbate City and Surigao del Norte. Bids for Ozamiz, Tagbilaran, and Virac Airports are to be submitted on October 17, while bids for Gen. Santos, Masbate, and Surigao Airports are to be submitted on October 18. In addition, the DOTr plans to bid out five other pre-qualified regional airports under the PPP scheme by the end of the year. Undersecretary for Aviation and Airports Roberto Lim said that the projects will be a big boost to the economy since portions of the provincial airports will be fixed and renovated by the investors. (source: Businessworld)

Economy: Change in US administration poses risk to PH growth Moody’s Investors Service stated that the country’s cash remittances and the income of the BPO sector would be negatively affected by a shift in US policies as a result of the change in the latter’s administration. Campaign proposals for both candidates point to a potential period of less proactive foreign engagement over time, with outcomes ranging from maintaining the status quo to a gradual retrenchment from trade and investment ties as well as curbs on immigration. Specifically, the credit rater said that the Philippines (and Vietnam) could be the hardest hit in the region should the US tighten its immigration rules, given the significant share of cash remittances in their GDPs. However, only a sharp slowdown associated with a severe and broad tightening of the said rules would have a material impact on domestic private consumption. In addition, the country’s current account surplus as well as gross international reserves is also expected to cushion any potential loss in remittances. Meanwhile, Moody’s noted that the Philippines (and India) are the most vulnerable should the US government impose higher tariffs or tighten rules on outsourcing, as revenues are more concentrated in the ICT industry which could also be sourced from the US. (source: BusinessWorld, PhilStar)

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