SM Prime lists bonds on PDEx

By VG Cabuag @villygc

SM Prime Holdings Inc. on Tuesday listed its over P30 billion in fixed rate bonds on the Philippine Dealing and Exchange Corp. (PDEx).

The company raised over P30 billion from its base offer of P25 billion.

ICTSI: Iraq terminal hits milestone

INTERNATIONAL Container Terminal Services Inc. (ICTSI) said on Tuesday its terminal in Iraq has handled 4 million TEUs after 9 years of operation.

The record volume at Basra Gateway Terminal (BGT), a terminal in the Port of Umm Qasr in Iraq, was archived after the recent unloading operation on the Yang Ming vessel YM Mutuality. “We are thrilled to achieve this significant milestone, which is a testament to the hard work, dedication and expertise of our team who have consistently delivered exceptional service to our customers,” BGT CEO Romeo Salvador said.

BGT is the only terminal in Iraq to have handled 4 million TEUs.

Over 9 years, ICTSI has invested more than $300 million to modernize and expand the multipurpose terminal.

The investment covers the construction of three new berths, rehabilitation of three existing berths, acquisition of new port equipment including post-Panamax ship-to-shore cranes—the largest port equipment in Iraq, and rollout of state-of-theart systems—all of which has helped BGT consolidate its market leader position. Currently, BGT is the terminal in the Port of Umm Qasr capable of efficiently handling 14,000-TEU container vessels, a value proposition that has helped attract new liner services.

“We are proud to be the leading player in the Umm Qasr port, and will continue to invest in our people, services and port infrastructure as part of our unwavering commitment to the development of Iraq’s port industry,” Salvador added. Lorenz S. Marasigan

It is the fifth tranche of SM Prime’s P100-billion bonds under shelf registration.

“We are very grateful for the trust and support of the investing public, as well as to our bank partners, the Philippine Dealing and Exchange Corp., Philippine Depository and Trust Corp., and PDS Group,” said John Nai Peng C.

Ong, SM Prime CFO. “The success of this latest fixed rate bonds will give SM Prime further capabilities to pursue its expansion programs of creating more opportunities for more Filipinos to build a better nation.”

SM Prime’s fixed rate bonds Series S, T, and U were offered last May 8 to 12, with interest rates of 6.2069 percent, 6.2151 percent, and 6.3275 percent, respectively. The joint issue managers were BDO Capital and Investment Corp. and China Bank Capital Corp., which also acted as joint lead underwriters along with BPI Capital Corp., EastWest Banking Corp., First Metro Investment Corp., RCBC Capital Corp. and SB Capital Investment Corp.

Meralco unveils Laguna substation

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CBTL Malaysia opens store in economic hub

By Lenie Lectura @llectura

THE Manila Electric Co. (Meralco) on Tuesday an- nounced that it has put up a new substation and a switching station within the Light Industry and Science Park 2 (LISP 2) in Calamba City, Laguna. The substation and switching station will address the growing demand of STMicroelectronics Inc. (STMI), the largest European semiconductor contract manufacturing and design company in the country.

The utility firm and STMI recently inaugurated the new 115 kV Gas-Insulated Switchgear (GIS) substation, which will facilitate the upgrading of STMI’s electric service from 34.5 kV (kilovolt) to 115 kV and accommodate its growing demand, which is projected to increase to 20 megawatts (MW) by 2027 from 14 MW last year.

The facility houses one 115 kV High-Voltage Gas-Insulated Switchgear, two 30 MVA Power Transform- ers, one 4.16 kV Medium-Voltage Switchgear, two 750 kVAr capacitor banks, and various protective devices. Besides the new substation, Meralco also recently commissioned the new La Mesa 115 kV switching station, also within the LISP 2. This project, which will improve the system reliability and power quality in the area, consists of a gas circuit breaker, three sets of disconnect switches, and standard connection and metering facilities for the Philippine office of STMI.

“These projects are expected to address not only the limited power supply of STMI Calamba, which is one of our highest operational risks, but also our future power supply demand, our power quality, our carbon neutrality strategy, and will definitely improve our site power resilience,” STMI Vice President and General Manager Yong Suk Kwon said.

Meralco Senior Vice President and Head of Networks Ronnie Aperocho said the new STMI substation along with the new La Mesa switching station is designed to support the growing power requirements of STMI’s Philippine office through the delivery of safe, adequate, reliable, and high-quality electricity service which, he said, is consistent with the utility firm’s commitment to its more than 7.6 million customers.

Meralco First Vice President and Chief Commercial Officer Ferdinand O. Geluz, meanwhile, urged companies to work closely with the power distributor for their various energy requirements.

“Through our dedicated relationship management teams, Meralco works hand-in-hand with its Enterprise customers to identify and tailor-fit solutions that will ensure reliable power for their operational requirements.”

Meralco’s said its continuing efforts to meet the requirements of industrial customers form part of the distribution utility’s commitment to contribute to improving the country’s infrastructure and ensuring energy security which fall under the government’s socioeconomic agenda.

JOLLIBEE Foods Corp.-owned

The Coffee Bean & Tea Leaf (CBTL) Malaysia on Tuesday said it opened its 150th café in Sierra Fresco, Puchong, Malaysia. Located in the prime economic hub of Selangor, Malaysia, Jollibee said the brand is “going full steam ahead” on its commitment to bringing the best of coffee and tea from around the world.

CBTL Malaysia launched its first café in Kuala Lumpur’s KL Plaza in 1997 and has expanded its presence in the country since.

“The brand’s success underscores its steadfast focus on serving authentic, diverse flavors of coffees and teas from different parts of the globe—using only ingredients of the highest quality—and elevating the customer experience through constant innovation,” Jollibee said.

Ernesto Tanmantiong, Jollibee president and CEO, said this is a milestone moment for the brand and is a testament to the brand’s commitment to innovation and growth.

“The opening of our 150th café in Malaysia, which adds to the brand’s expanding footprint of over 1,000 cafés across 20 plus countries globally, signifies Jollibee Group’s commitment to the accelerated growth of The Coffee Bean & Tea Leaf brand,” Tanmantiong said.

“Malaysia is home to the brand’s third-largest café network in Asia, and with the support of its people, customers, and the Malaysian community, we hope to bring the authentic coffee and tea experience to even more places in the country.”

“This is an exciting time in our growth story as we build on our strong legacy to become a modern global coffee & tea house that allows people to see the world in new ways through new flavors and experiences. Asia remains a focus for our expansion where we continue to see strong demand for specialty coffee and tea,” John in de Braekt, CEO of The Coffee Bean & Tea Leaf Brand, said.

The new café features a spacious floor area of 2,800 square feet which houses a large seating area, including a community table for 8, that can accommodate up to 110 customers and visitors.

The café’s contemporary interiors boast an open space concept, with arches featured prominently. A nod to the brand’s roots, South Californian motifs adorn the new café, while sunshine-like lighting evokes a warm and inviting ambiance.

While innovation remains a key focus for the brand, CBTL Malaysia plans to further enhance customer accessibility by expanding its drive-thru services. Through this, the brand aims to provide a better on-the-go experience for more customers.

“Ever since we made Malaysia our home with its first The Coffee Bean and Tea Leaf café back in 1997, we have continued to uphold our commitment to delivering a unique experience in every cup or on every plate. In turn, we are grateful to have our passion reciprocated by Malaysians, who continue to support us in making our cafés a space of community,” Mohamed Amar Shah, managing director of CBTL Malaysia, said.

CBTL’s brand’s expansion forms part of Jollibee’s vision to be one of the top 5 restaurant companies in the world. VG Cabuag