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MANILA, Philippines — The Philippines is setting into motion a defense strategy focused on securing and protecting the country’s territorial waters, including marine resources, Defense Secretary Gilbert Teodoro Jr. said yesterday.
MANILA, Philippines — Energy utility provider Manila Electric Co. (Meralco) has increased electricity rates this March by P0.0229 per kilowatt-hour, marking the third increase this year.
MANILA, Philippines — The Philippine National Railways (PNR) will halt its Governor Pascual-Tutuban and Tutuban-Alabang operations starting March 28, 2024 to "accelerate" the construction of the North-South Commuter Railway (NSCR) project in Metro Manila.
GMAC Logitech Refrigeration Corporation (GMAC) [link], the cold storage joint venture between Ayala Corp [AC 675.00 ?1.2%] and private cold storage player Glacier Megafridge (GMI), announced it would break ground in a few weeks on a new 11,798-pallet position temperature-controlled facility in Panabo City, Davao del Norte. GMAC said that it expects the new facility to begin commercial operations by Q1/25, and that once completed, it would cater to “local food producers, manufacturers, importers, institutional food service, and quick service restaurant clients.” The facility will triple GMAC’s system-wide capacity.MB BOTTOM-LINE: Glacier is one of only two or three cold storage providers who have the DNA required to grow into a potential national leader. It’s great to see the Ayala Group continuing to press forward with cold storage development, though I’m disappointed that we don’t have better insight into their strategy. It sucks to see this developed under the AC Logistics Holdings subsidiary of AC, and not as part of the AyalaLand Logistics [ALLHC 2.13 ?2.3%] entity that has seen its cold storage operations take off in recent quarters. Even putting it in ALLHC would be sub-optimal, as their cold storage is only just a small fraction of what ALLHC actually does. Still, I applaud any news like this where serious companies are building significant structures in the cold storage space. At least AC is doing something! What about all those other conglos?
MANILA, Philippines — The Philippine Drug Enforcement Agency (PDEA) got an added boost to its operational capabilities with the acquisition of four narcotics detection dogs on Wednesday.
MANILA, Philippines — The water level in Angat Dam has dropped by .33 meters, the lowest so far this year, due to El Niño.
MANILA, Philippines — Concerned over the welfare of the youth, the Philippine National Police (PNP) has declared a crackdown on vendors and retailers who are selling vape products to minors.
MANILA, Philippines — Up to P1.95 billion in calamity funds was released last month to finance various disaster relief operations.