Surrendered car

Overheard 1: Japan head office is seriously thinking of closing down its automotive assembly operation here and relocate to Thailand as part of uhm, cost-cutting measures in the region.

The company will, however, continue to market its popular brands in the country through its dealership network.

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Overheard 2: By the end of the year, Japan will have imported two million kilos of chicken cuts purchased from San Miguel Corp. and RFM Corp.

Why, Marubeni’s trading arm has even sent over technicians to show the Philippine companies exactly how to cut the meat, yakitori-style.

Since March, Marubeni has already imported about 500,000 kilos of chicken from the Philippines, which is only one of the three Asean countries not infected by avian flu. The other two are Singapore and Brunei.

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Overheard 3: Precisely because Japan can’t seem to have enough of Pacific White shrimps (vannamei) from Thailand, the Philippine Aquaculture Board headed by Lourdes Tanco is pushing for the propagation of this shrimp species instead of the usual slower-growing black tiger.

During a recent global meeting by aquaculture experts, it was agreed that shrimps would refer those grown in salty water while prawns would refer to those grown in fresh water).

The president of Mida Food Distributors, Chingling Tanco is the sister of former Agriculture Secretary Arturo Tanco.

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Bank notes 1: Yes, the company car, — a Honda — assigned to the president of the Development Bank of the Philippines has been parked at the head office basement parking area since Simon Paterno surrendered the car on his last day of work as president.

The next time Mr. Paterno will be at DBP – this will be on Sept. 22 when he formally turns over the job to Reynaldo David — he will either have to use his own car or take a cab. Rey David officially takes over on Oct. 1.

Between now and then, executive vice-president Edmundo Garcia is the officer-in-charge.

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Bank notes 2: Don’t be surprised if HSBC (Phils.) chief executive officer Warner Manning makes a very professional quarter or half turn the next time you call out his name.

You see, Mr. Manning took yesterday’s fashion show for CEOs quite seriously and practiced every day on his fashion walk a couple of days before the show.

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Bank notes 3: Export and Industry Bank chairman Sergio Ortiz-Luis made sure he would be in town this week. You see, EIB’s final payment for its acquisition of Urban Bank, Inc. will be completed this week.

As everybody knows, Urban Bank was ordered closed by the Monetary Board chaired by Bangko Sentral Governor Rafael Buenaventura about three years ago and liquidated by the Philippine Deposit Insurance Corp.