BIZ BUZZ: SMC-MPTC tollway merger: What’s taking too long?
For now, the proposed tollway joint venture with San Miguel Corp. (SMC) is still pending but Metro Pacific Tollways Corp. (MPTC) chair Manuel Pangilinan wants to pick up the pace.
“We’d like to engage them. Everybody has reported the first quarter reports. Now, we can get back to work,” the Metro Pacific big boss told reporters on Thursday.
“If we gonna do it, we might as well do it as expeditiously as possible,” Pangilinan added.
The tollway operators have been in talks for quite some time now for the merger but are nowhere close to finalizing the details.
Pangilinan earlier said they would want to raise funds first to trim the company debts before proceeding with the transaction.
Ahead of the merger, the companies are working on the 88-kilometer Cavite-Batangas Expressway and Nasugbu-Bauan Expressway. —Tyrone Jasper C. Piad
READ: Tollways merger seen wrapping up this month
When brownout strikes DOE briefing
Even the Department of Energy (DOE) office in Taguig City couldn’t escape electricity supply interruptions.
A sudden blackout hit the DOE’s office on Thursday just as Secretary Raphael Lotilla was conducting a press briefing.
Small emergency lights out, roller blinds up…
“We have enough reserves,” one reporter said in jest, seemingly echoing energy officials’ assurance to the public of sufficient power supply during the hotter months.
Representatives from the DOE could not immediately provide reasons for the brownout, but Lotilla jokingly said, “Now you can ask your Meralco (Manila Electric Co.) questions.”
To recall, Meralco and the DOE had a tiff over the delayed implementation of a power supply deal, with the former issuing a three-page response against an energy official.
Following this, the DOE made a surprise move by recalling one permit from Meralco’s power generation unit, with some spectators seeing this as “collateral damage.” Lotilla, himself, even floated a possible probe on Meralco’s alleged competition risks.
Meanwhile, although the brownout in the midst of a public spat wasn’t deliberate, the humor certainly wasn’t lost.
Officials later on noted that the power interruption was isolated to one building. Meralco said it was caused by “a blown fuse at the building.” —Lisbet K. Esmael
EV charging race
You may be wondering where you can charge your mammoth of a Tesla Cybertruck, currently a rare breed in the country with only a select few spotted, but only in the more posh Metro Manila areas.
At the same time, the Ayala Group’s move to bring BYD electric vehicles (EVs) in a country that has only seen “regular” cars for decades already bore fruit. The same goes with Megaworld Corp., which was chosen to host Tesla’s showroom in the Philippines.
The fruits we’re talking about are the EV charging stations that seem to be sprouting all over our frequently visited malls, office, as well as condominiums.
This time, the Sy family is putting the spotlight on its 131 EV charging stations installed across the nationwide portfolio of SM Prime Holdings Inc.
“Through this initiative, we are also supporting the government’s vision for an inclusive and future-ready EV ecosystem,” says Jeffrey Lim, president of the real estate giant.
“We are focused on making sustainability practical and accessible,” Lim adds. “Expanding our EV charging network is one way we are enabling Filipinos to adopt greener habits as part of daily life.”
This year alone, SM Prime will add at least 50 more charging stations across its malls and office developments. Soon, residential communities and leisure estates will have a slot for a Cybertruck or a BYD, or perhaps a new EV brand.
As we have established, this kind of venture is not new. In fact, the Zobel family’s AC Mobility is already expanding its charging network across Makati, with 74 stations across 18 locations in the city.
In February, the Gokongweis also rode on the trend and launched Robinsons Land Corp.’s inaugural GoCharge EV charging station at GBF Center 1 in Bridgetowne Destination Estate.
While we’re unsure as to when we can get our hands on our own EVs, one thing is for certain: we’re going to see more of these charging stations, whether or not we use it ourselves. —MEG J. ADONIS
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