Maybank Philippines receives Best Finance Deal Award

Maybank Philippines, Inc. (MPI), along with other foreign and local banks, was recognized at the recently held Global Trade Review Award 2014 for being a key participant in financing Energy Development Corp.’s award winning 150-megawatt Burgos Wind Project.

“The award would not have been possible without the hard work and perseverance of our Client Coverage and Corporate Banking Teams,” said Mr. Manuel A. Castaneda, MPI SVP and Head of Global Banking Group.

MPI’s key participation in the project allowed it to bag the Best Project Finance Deal Award for 2014 from UK-based Global Trade Review, which is one of the leading news source for global trade, commodity, export, and supply chain finance industries.

The Burgos wind project (BWP)– which is the Lopez Group’s first venture into wind energy — is the largest wind farm in the country. It has the capability to generate about 370 gigawatt-hours (GWh) of electricity every year. EDC invested a total of USD450 million for BWP, of which $315 million was funded by a syndicated loan agreement with domestic and international banks, including MPI. The loan facility with MPI was signed in October 2014.

The project is scheduled to start operations early this year, generating 370GWh of electricity to approximately 2 million households in the Philippines and avoiding 200,000 tonnes of carbon emissions annually. The complex structure of the financing is expected to serve as a template for future renewables projects in the country.

“Our Global Banking Team will continue to pursue and participate in big financing deals, particularly those that will have a sustainable impact to the Philippine economy,” Mr. Castaneda said.

MMPC stages Mitsubishi Mirage Metro Challenge

Putting the Mitsubishi Mirage, Mirage G4, and their class-leading features to the test yet again, Mitsubishi Motors Philippines Corporation conducts the first-ever Mitsubishi Mirage Metro Challenge. Celebrity team leaders with two other college student teammates form six teams of three to go against each other in the hopes of winning and being dubbed as the first Mitsubishi Mirage Metro Challenge Champions. Celebrity team leaders include the beautiful actress, Ellen Adarna; rock legend, Rico Blanco; actor and singer, Markki Stroem; volleyball superstar, Gretchen Ho; internet action star, Ramon Bautista; and the lovely Cheats lead singer, Saab Magalona.

Highlighting the fun, practicality, and functionality of the brand, the Mitsubishi Mirage Metro Challenge brings about various challenges that require skill, intelligence, automotive capabilities, and use of the stand out features of the Mitsubishi Mirage and Mirage G4.

Follow the teams and witness them go through the challenges! The challenge begins on May 9 at the Quezon City Memorial Circle, continues on May 16 at the Bonifacio Global City, and ends on May 30 at SM Mall of Asia. Points earned from each challenge and online votes will be accumulated to determine each team’s points.

The champion team takes home P100,000 each with the celebrity’s winnings donated to his/her charity of choice. 2nd place non-celebrity teammates receive P50,000 each, while the 3rd place non-celebrity teammates receive P30,000 each. The rest of the non-celebrity team members will receive a consolation prize of P10,000 each.

The challenges have been set and the teams are behind the wheel. Let the games begin!

Citizenship issue to be raised vs Grace Poe if she runs for president

Thanks to Inquirer for photo.

Thanks to Inquirer for photo.

Some of those who have ambitions to become president in 2016 are reportedly thinking of ways how to stop Grace Poe, whose political trajectory is consistently ascending since she was elected senator two years ago.

This has become urgent with President Aquino’s recent meeting with her on the possibility of running for higher office in 2016.

One of the issues Poe’s prospective political opponents have prepared to raise is her citizenship.
It is a known fact that the 2013 senatorial race topnotcher was a foundling. She was found in Jaro Cathedral in Iloilo City. A kind woman took care of her and later gave her to the then King and Queen of Philippine Movies Fernando Poe, Jr and Susan Roces.

There are, of course, juicier version of her parentage. One is that she is allegedly the daughter of Susan Roces’ sister, Rosemarie Sonora, with the late President Ferdinand Marcos.

The lady senator knows about the rumor. She reportedly once joked with fellow senator, Ferdinand “Bongbong” Marcos, J; “Magkapatid daw tayo?”

But it is not a joking matter for those whose political ambitions she would be derailing. Social Weather Stations’ March 2015 survey showed Poe closing on consistent frontrunner Vice President Jejomar Binay.

SWS survey on presidential possible candidates showed Poe’s rating going up by 10 percentage points, from 21 percent last December to 31 percent last March. Binay rating, on the other hand, continues to go down from 37 percent last December to 36 percent last March.

Poe said there was no talk about what position Aquino would like her to run in 2016 except that he wants someone with a high chance of winning to continue what he has started after he is out of Malacañang.

Poe has been impressive in her first two years as senator, showing diligence, competence and principled position in issues confronting her and the Senate.

In an institution where a number of its members have been implicated in corruption, she has remained untainted. The only issue her non-supporters can raise is her citizenship, the same issue that hounded her father, Fernando Poe, Jr in the 2004 elections against Gloria Arroyo. (The Supreme Court eventually dismissed the case but it distracted FPJ from the campaign.)

The Philippine Constitution requires the president of the Philippines to be “a natural-born citizen of the Philippines, a registered voter, able to read and write, at least forty years of age on the day of the election and a resident of the Philippines for at least ten years immediately preceding such election.”

Since Grace Poe’s biological parents are unknown, her non-supporters are asking: “How sure is she that she is a natural-born citizen of the Philippines?

A source close to Poe’s camp said they are aware of that issue to be raised against her if and when she decides to run for the presidency. They are ready to answer that.

One of the legal instruments that they are citing is the U.N. Convention on the Reduction of Statelessness that states, “A foundling found in the territory of a Contracting State shall, in the absence of proof to the contrary, be considered to have been born within that territory of parents possessing the nationality of that State.”

Expect this issue to reach the Supreme Court.