MVP's MRT

We had a conversation with Metro Pacific chairman Manny V. Pangilinan yesterday, and it looks to me his investment in the MRT 3 project is going to be another challenge for him where a lot of things need to be done to make the system more efficient and reliable including buying new coaches to increase passenger load. The biggest hurdle will be the restructuring of the $1.7 billion debt paper held by the DBP and Land Bank. More than half a million commuters are served by the MRT on a daily basis, and MVP is hoping to fast-track the completion of the loop project that would connect the LRT line from its Monumento station onto the EDSA-North Avenue station of the MRT which will be such a relief for Metro Manila commuters who have long been suffering from being under the gun by bus operators.

The current MRT rates of P11 to P14 (depending on the distance) have long been subsidized with the actual fare per commuter being within P60 to P65 to make it viable, but Manny says they will make the rates competitive with the current bus rates. There is no question MVP’s entry into the MRT is a welcome development particularly by many foreign groups who have long been saying that the only solution to Metro Manila’s horrendous traffic and pollution problems is through a well-run mass transport system. The days of the big buses and jeeps are numbered with almost everyone supportive of MMDA Chairman Francis Tolentino’s quest to control the number of buses on the road and decongest Metro Manila’s crowded streets.

TV 5’s Indonesian Kapatid

With Manny Pangilinan’s successful entry into the television network industry, MVP’s First Pacific is poised to take over Indosiar, a publicly-listed national Indonesian TV station majority-owned by Manny’s Indonesian partner Anthony Salim. The phenomenal success story of TV5 and now a very serious threat to the two top networks in the country has convinced Anthony Salim to give Manny full rein in running the Jakarta-based TV station. It is unbelievable to see how the prime time TV show of Willy Revillame’s “Willing Willie” topped the television rating game in less than a month. A Forbes Park businessman who refuses to be identified says he regularly watches “Willing Willie” and is mesmerized by the TV show’s co-host, former presidential GF Shalani Soledad.

Phl rating drops

While our local TV shows are getting more popular worldwide and our great boxer Manny Pacquiao is gaining more accolades for the country, the Philippines is dropping alarmingly as reported in the “2010 Country Brand Index Survey” from Number 29 in 2009 to Number 65 this year. According to the study made by global brand consultancy firm FutureBrand in partnership with BBC, the Philippines has been “beset by high-profile violent incidents this year that might have overshadowed the election of a new president pledging to reform a country troubled by perceptions of corruption. Time will tell if the Philippines’ natural, historical and cultural assets, a relatively stable economy, and a new government will reverse this downward trend for the brand.” Pacquiao is definitely the biggest “brand name” the Philippines has to date, and it looks like government has to double its efforts to counter the recent negatives brought about by the hostage crisis, the Maguindanao massacre and the recent travel advisories from the US and other countries. Tourism Secretary Bertie Lim recently launched the new tourism catch phrase “Pilipinas Kay Ganda” which some say is not an original. It reportedly is a take from ABS-CBN’s TV morning program “Umagang Kay Ganda.” Nonetheless, Bertie has his work cut out for him that could easily double the number of white hair on his head.

Iñigo’s Argentine adventure

Major Ayala stockholder and wealthy Ayala heir Iñigo Zobel called us from Argentina where he will be watching the 117th Argentine Polo Championship, the World Cup version of polo dubbed the Abierto de Polo or simply “El Abierto.” Iñigo is an avid polo player and is an excellent one at that. He is currently looking at purchasing a large horse farm in Argentina and hoping to breed polo horses for export. The South American country is known for some of the best horses in the world like the Criollo whose endurance is comparable to Arab stallions. Argentine polo ponies can fetch upwards of $100,000 per pop.

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