Biz Buzz: Zero lease fees, please
If over 600 property owners can accommodate telecommunication in-building solutions (IBS) at no cost, Globe Telecom Inc. president and CEO Ernest Cu said others can follow suit.
The Ayala-led company has been pushing to scrap the lease fees for the installation of telco facilities at buildings to make internet connectivity more accessible. After all, it pointed out that internet is as crucial as other basic utilities like water and electricity.
“The properties giving free IBS space for telco solutions show zero lease is an achievable reality here,” Cu said. “Their visionary stance paves the way for collaborative infrastructure policies that will help uplift our digital economy and society, altogether accelerating the country’s digitalization journey.”
The zero lease policy, Globe noted, is already in place in Australia, Singapore and Hong Kong. It seeks to reduce industry costs while enhancing access to connectivity to the public.
The Ayala-led company’s call is in line with the pending House Bill No. 8534, which pushes for the readiness of buildings and structures to accommodate information and communications technology infrastructure at a time of heightened digitalization.
“Globe is committed to working hand-in-hand with the government and the private sector to implement zero lease for telco infrastructure across the Philippines,” Cu said. —Tyrone Jasper C. Piad
Razon takes helm of Iloilo port
Tycoon Enrique Razon’s International Container Terminal Services Inc. (ICTSI) has officially received the keys to the Iloilo Commercial Port Complex during a handover ceremony this week. It was attended by officials from the global port operator and the Philippine Ports Authority (PPA).
Last month, ICTSI received the go-ahead from the PPA to operate and develop the port under a 25-year concession agreement with the government.
The Razon-led company is tasked with rehabilitating the terminal facility and bringing in cargo-handling equipment to improve operations at the port, which is now called the Visayas Container Terminal.
For this year, ICTSI budgeted $450 million in capital expenditures to fund the expansion of terminals here and abroad. Apart from the Iloilo project, the company is also working on other port expansion plans in Brazil, Mexico and Indonesia, among others. —Tyrone Jasper C. Piad
MVP, RSA set to seal deal
The proposed mega tollway company of billionaires Manuel Pangilinan and Ramon Ang is making headway as both parties are expected to seal the merger—which will include the $1-billion Indonesian toll business of Metro Pacific Investment Corp. (MPIC)—before the year ends.
“I think we will sign an agreement within the year. It is subject to government approval,” Pangilinan said on Tuesday.
MPIC and San Miguel Corp. have been tallying their assets amid the merger talks, with Pangilinan’s Indonesian toll business being one of the crucial items at the negotiation table.
But the tycoon, who also leads telco giant PLDT Inc., clarified this segment made the tally and was included in the asset valuation.
This could put MPIC at the driver’s seat in this joint venture given that individual company valuation would determine the lead. However, more details about the partnership have yet to be divulged.
Metro Pacific Tollways Corp. (MPTC), MPIC tollway arm, currently has concession to operate four tollway projects in Indonesia. It is also on the cusp of acquiring 35-percent ownership in the 676-kilometer Trans-Java toll road in Indonesia.
MPTC previously announced its plan to launch an initial public offering after its parent company MPIC delisted from the local bourse. But it has taken a step back at the moment from going public to give way for the merger talks.— INQ
