Despite the interminable delays that have hounded the administration’s flagship Public Private Partnership (PPP) program – with only three PPP projects having been completed to date – institutions such as the International Finance Corporation see the Philippines as a leader that has paved the way for the success of PPPs in the Asia Pacific region. Local and foreign investors continue to have a positive outlook and have indicated willingness to participate in many of the projects in the PPP pipeline, among them Madrid-based Obrascon Huarte Lain, a global construction and civil engineering firm considered as one of the largest in the world. According to the prestigious Engineering News Record, OHL is the 8th biggest contractor in Latin America and the 31st biggest in the world.
The Spanish company recently established its presence here in the Philippines which should tell you they mean serious business as far as participating in PPP projects is concerned. This is welcome news since the government is being urged to enhance investor confidence and get the support of various sectors to make the program successful.
Those familiar with OHL say the company specializes in construction of urban transport projects like metros, railways and elevated highways. It has implemented advance construction methods so as not to interrupt the traffic during project execution. Apparently, OHL has received numerous awards and recognitions, among them the Construction Quality Award by the New South Wales Department of Roads and Maritime Services (Australia) for its excellent performance in the Schofields road upgrade project and the Potencia Prize for its activity in the New York subway.
It also handled the North Twin Tunnel segment of the Toronto-York Spadina Subway Extension Twin Tunnels project, which connects the city of Toronto to the regional municipality of York. This was awarded by the Tunneling Association of Canada last October as the Canadian Project of the Year for demonstrating the “highest level of engineering skill, insight and understanding of underground construction.” The development will benefit about two million subway users because it will ease traffic congestion by offering a fast and clean transportation option.
However, the firm is not just limited to transport infra projects like roads and railways since it is also known as a world leader in the construction of hospitals. We’ve been told that OHL’s Centro Canalejas project in Madrid is aiming to have a LEED Gold certification from the Green Building Council of the US. More importantly, the project – whose construction phase is set for completion in 2018 – will create thousands of jobs (directly and indirectly) in various industries.
Gambling on PhilWeb
Philweb Corporation, the Philippine Gaming Amusement Corporation’s service provider for e-Games outlets, recorded an increase in revenue despite increased competition from other forms of gaming operations. In the audited 2015 financial statement released by the company, it posted an annual revenue of P1.67 billion, while net income stood at P870 million.
According to Philweb president Dennis Valdes, the company’s cash flows in 2015 have been “steadily increasing, and this is evident in our EBITDA, which totaled P1.2 billion” which was higher than the previous year.
The strong cash flow will certainly be rewarding for shareholders who will receive
increased returns on their investment. “The company declared a dividend of P0.20 per share last month, a 33 percent increase versus its previous dividend declaration of P0.15 per share. PhilWeb paid a total of four P0.15 dividends, amounting to P0.60 per share in 2015,” disclosed Valdes, adding that for 2016, they are targeting to maintain the P0.20 per share quarterly dividends or a total of P0.80 per share.
The e-Games network currently has a total of 268 operating e-Games, with over 8,800 gaming terminals. In November last year, the casino gaming software was updated, which means sports betting can now be done at each terminal. “I am bullish about the coming year,” said Valdes. “We have been a solid supporter of PAGCOR for over a decade, over several changes in PAGCOR administrations, and consistently increasing the revenue we deliver to them year after year. In 2015, we remitted to PAGCOR a total of P2.116 billion as compared to P2.079 billion a year before. As a valued partner of PAGCOR, we are already looking forward to how much more we can be of service to them in the years ahead,” he said.
Royalty polo match
Three members of the royal family of Brunei Darussalam were here in Manila for the Mabuhay Polo Cup held at the Manila Polo Club the other day – Prince Qawi, son of Prince Muhammad who is a brother of the sultan; Prince Bahar, son of Prince Jefri who is the sultan’s youngest brother; and Princess Azemah, daughter of Sultan Hassanal Bolkiah (as shown in photo).
According to those in the know, the Brunei royals flew to Manila in their individual private jets with their retinue of bodyguards as well as their prized horses, and reserved most of the penthouse suites of some of the topnotch hotels in Makati. Their presence underscored the fact that polo, indeed, is a “game of kings,” or in the case of the Mabuhay Cup – princes and princesses.
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Spanish firm still bullish on the Philippines – #JHedzWorlD
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