It’s exciting times these days for the country’s “new taipans.” And happily, the timing is just right.
First and most importantly, this is going to be the first time in a long, long while that the Philippines is enjoying the envy of the world’s economists. The country has, after all, chalked year after year of growth, and faces a most alluring promise of an economic leap.
Second, while many foreign investors are still trying to decide if they will invest in the Philippines, local conglomerates headed by a new breed of “taipans” are betting their all to lift this nation’s economy, of course not so much for altruistic reasons, but because it makes good business sense.
Before we proceed, let me clarify the word “taipan.” This is more loosely used to denote the previous generation of, ahem, true taipans: Danding Cojuangco, Lucio Tan, Henry Sy, John Gokongwei, and others with similar sounding surnames.
Today, the new “taipans” at the helm of their respective expansive business interests cut across diverse roots although all claim to be Filipino.
New “saviors”
Ramon Ang is successor to Cojuangco’s SMC, now diversified into power and infrastructure. Manny Pangilinan has his ties with Indonesia’s Anthoni Salim. The Ayalas of American parentage are moving into other interests aside from real estate. The Aboitizes are making a bid too outside of Cebu. And of course, the second generation Sys, who built their fortunes from retailing.
There are others worth mentioning who are also flexing their own networks, and which in time deserve their own prominent space in this column for having put their trust in this country. Suffice to say, this nation is grateful.
Finally, the government’s Public-Private Partnership program is taking off, thanks to companies like the Metro Pacific Investment Corp., San Miguel Corp., Ayala Corp., SM Investments Corp., JG Summit Holdings Inc. and others.
The interest of these conglomerates in PPPs is also partly as a result of the low interest rate environment that has persisted through the years when the rest of the world was grappling with the effects of the global financial collapse that hit in 2008.
Among the projects that are seeing action during tenders involve the construction or rehabilitation of new or existing roads, ports, utilities (water and power), transportation (rapid bus transit and elevated trains), and hospitals.
Action and drama
Of course, where there is action, expect also drama. An example is the P34.5-billion Cavite Laguna Expressway (CALAX) project which award had been withdrawn in view of a “disqualified” bidder’s appeal to the President.
While the case has not gained the notoriety of the NAIA 3 project, those handling PPP projects should be more careful that similar appeals can never be entertained in future. We all are aware of how such delays affect the timetable of these all too crucial projects in the PPP listing.
The CALAX involves the financing, design, construction, operation and maintenance of a four-lane, 47-kilometer closed-system toll expressway connecting the Cavite Expressway (CAVITEX) and the Southern Luzon Expressway (SLEX).
Messing up with any of the PPP projects, especially those that had been culled and prioritized from a longer number in the National Economic Development Authority’s bucket list, is tantamount to economic sabotage now that the country is earnestly trying to get its act together.
Most of the world’s economies may not yet be on the positive road to recovery, but there are already signs that the much-awaited healing is slowly starting to take place. The Philippines cannot afford to be left behind again.
Collegiate basketball season in full swing
The annual search for the best collegiate teams being conducted by Philippine Collegiate Champions League (PCCL) is on the way with the collegiate basketball season in full swing.
The oldest collegiate league, National Collegiate Athletic Association (NCAA), kicked off its 90th season two weeks ago to roll open the 2014 collegiate basketball season.
This weekend, the University Athletic Association of the Philippines (UAAP), the second oldest league in the country, opens its 77th season. Next month, the Cebu-based Cebu Schools Athletic Association Inc. (CESAFI), considered as the third major collegiate league in the country, follows.
At this early stage, the top teams emerging in the NCAA competitions are the San Beda College Red Lions (who are eyeing their fifth straight championship to tie San Sebastian College-Recoletos Golden Stags for the record), the University of Perpetual Help Altas under coach Eric del Rosario, and the Arellano University Chiefs under new coach Jerry Cordinera.
It’s still a long way to go in the 10-team league, and surely other teams like this year’s host, the Jose Rizal University Heavy Bombers, will make a run for the prestigious Final Four.
In the UAAP, there is strong consensus even among coaches that defending champion De La Salle University Green Archers is on its way to back-to-back titles and is in good standing to duplicate Ateneo’s five-peat achievement. DLSU coach Jun Sauler, Best Coach of Champions League (PCCL) 2013 National Collegiate Championship, has an intact cast while opposing teams are besieged by exodus of key players.
The teams expected to be in the way of the Archers are last year’s runner-up, UST Growling Tigers (under new coach Bong dela Cruz), National University Bulldogs (despite the loss of Ray Parks), and of course, the perennial Final Four finalist, FEU Tamaraws of coach Nash Racela.
Most UAAP experts are giving Ateneo de Manila Blue Eagles a mere 50-50 chance of making it in the Final Four.
Visit www.CollegiateChampionsLeague.net for more details as over 30 leagues nationwide start their respective basketball competitions.
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