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  1. Join Date
    Jun 2007
    Posts
    2,854
    #11
    Manila Times
    October 31, 2008

    [SIZE=3]Keppel Unit Granted Pioneer Status,
    Tax perks for Cebu Project
    [/SIZE]

    THE Board of Investments (BOI) granted pioneer status bestowing tax and other perks to Keppel Singmarine Philippines Inc. for its shipbuilding investment in Cebu.

    Keppel Singmarine will assemble harbor tugboats of varying bollard pull capacities, and also offshore support vessels, with an estimated total project cost of about P590 million. According to the BOI, [SIZE=3]Keppel Singmarine would be the first to construct such types of vessels in the country.[/SIZE]
    Keppel Singmarine’s facility in Lapu-Lapu City would have a production capacity of eight vessels a year.


    With its export orientation, other applicable incentives are as well extended to the project, the BOI said.
    The investment would cover the purchase of new equipment and facilities, improvement of building and leasehold, and working capital, the incentives-giving agency said.
    The proposed shipbuilding operations would involve planning and design, hull construction, machinery and equipment installation, outfitting, dock-and sea-trial, and actual delivery.
    The project’s commercial operation starts in November and would generate 620 jobs.
    [SIZE=3]The investment is 60 percent Filipino-owned and 40-percent Singaporean.[/SIZE]
    -- Ben Arnold O. De Vera
    See ULS...we have lots of potential here in the Philippines.

    And it takes foreigners-Singaporeans--to put up a pioneer business with lots of potential here in our country...

    6 billion of rich pinoys...wow!

  2. Join Date
    Aug 2008
    Posts
    1,099
    #12
    Quote Originally Posted by uls View Post
    Rich pinoys definitely wouldnt put all their money in local banks and local stocks and bonds.

    they would put their money in foreign banks and invest in foreign equities and debt paper.

    Most rich asians put their money in Hong Kong and Singapore branches of US, UK, Swiss banks.

    JP Morgan is the favorite bank among high net worth pinoys.

    Surprised?

    Rich pinoys have tons of money abroad.

    why don't they invest it here?

    for what?

    hanap sakit ng ulo?

    for once I agree with you ...

    but like all opportunities, how come foreign investors are earning from our labor force and our rich/elite not that much. our rich/elite must be missing one helluva of an opportunity to make money.

  3. Join Date
    Jun 2007
    Posts
    2,854
    #13
    Quote Originally Posted by Gen. Miting View Post
    but like all opportunities, how come foreign investors are earning from our labor force and our rich/elite not that much. our rich/elite must be missing one helluva of an opportunity to make money.

    Yes, this is true. We should build local capability by putting money on new investment opportunities...

    Remember this...

    Food- lechon manok, nata de coco, prawn, shawarma, pearl shake, water purifier stations, fishballs,waffles just to name a few...

    Cosmetics-bottled perfume, home made soap and frangrances

    For Cleaning--home made liquid laundry soup, liquid dishwashing soap, fabric conditioner and other toilet cleaner and frangrances...

    These are all multi million businesses now since their pioneering days...

    The extracted frangrant (essential?)oil market should be booming now. Another opportunity for Pinoys because we have ilang-ilang and lemon grass here.

    __________________________________________________ _________

    Of course, the bigger businesses..

    telecom related businesses..

    cellphone retailing, celphone acccesories and cellphone repair (what happened to Wellcom?)

    gas retailing and refuelling stations...

    Carwash.....

    -------------------------------------------------------
    Now for Heavy industry...

    Shipbuilding and shiprepair...

    budget airlines....

    integrated steel (lots of inquiries according to BOI)

    petrochemical plants (plastic, naphtha crackers, FCC)

    energy related businesses (power plants)

    renewables (biodiesel, enthanol plants, on stream by 2010)

    mining (extraction and processing)

    paper

    textile and garments

    jewelries

    natural rubber (especially for automotive tires)

    dairy products (99 percent imported)

    soya (feeds. San Miguel is the biggest consumer)

    6 billion is ore than enough.

    OFW remittances should go here.

    Not in electronic gadgets that are very expensive and yet depreciates rapidly...(MP3s, cellphones, LCDs, DVDs, laptops, gaming consoles, toys)

  4. Join Date
    Sep 2008
    Posts
    185
    #14
    You are correct sir jpdm.

    These industries need more investments. And the 6 billion and the a portion of the 14 billion dollars of rich Pinoys and OFWs respectively should be put in these businesses...

  5. Join Date
    Nov 2005
    Posts
    39,210
    #15
    But the problem is, the Philippines doesnt have a business friendly environment

    the locals know it.

    That's why the locals would rather stash their wealth abroad than re-invest it here

    Kung pangit ang environment, those with resources just lay low... they just weather the bad environment till it gets better...

    they have enough resources to last years and decades... even more than a lifetime...

    My point is, the reason why many rich locals don't re-invest here is coz they think it is too much risk and hassle. They weigh the potential earnings and potential headaches and decide it's not worth it.

    Foreigner investors come in coz they don't know what the locals know.

    Then later on they realize ganito pala ang Pinas.

    They tell other investors abroad what it's like in the Philippines...

    So investors go to China and Thailand and Malaysia and Vietnam nalang...

    --

    About our talented and skilled people...

    napapakinabangan tuloy na ibang bansa ang tao natin.

    OFWs contribute to the GDPs of other countries

    while we only get the remittances,

    The remittances are nothing compared to the value of the contributions of OFWs to the GDPs of foreign economies.

    --

    FIX THE BUSINESS ENVIRONMENT

    then capital will flow
    Last edited by uls; November 1st, 2008 at 03:34 PM.

  6. Join Date
    Jun 2007
    Posts
    2,854
    #16
    Quote Originally Posted by uls View Post
    But the problem is, the Philippines doesnt have a business friendly environment

    the locals know it.

    That's why the locals would rather stash their wealth abroad than re-invest it here

    Kung pangit ang environment, those with resources just lay low... they just weather the bad environment till it gets better...

    they have enough resources to last years and decades... even more than a lifetime...

    My point is, the reason why many rich locals don't re-invest here is coz they think it is too much risk and hassle. They weigh the potential earnings and potential headaches and decide it's not worth it.

    Foreigner investors come in coz they don't know what the locals know.

    Then later on they realize ganito pala ang Pinas.

    They tell other investors abroad what it's like in the Philippines...

    So investors go to China and Thailand and Malaysia and Vietnam nalang...

    --

    About our talented and skilled people...

    napapakinabangan tuloy na ibang bansa ang tao natin.

    OFWs contribute to the GDPs of other countries

    while we only get the remittances,

    The remittances are nothing compared to the value of the contributions of OFWs to the GDPs of foreign economies.

    --

    FIX THE BUSINESS ENVIRONMENT

    then capital will flow
    This time I agree.

    The government should improve the investment climate...

    What is your suggestion?

    Well, our OFWs aside from contributing to their host countries' GDP, they are contributing immensely to our GIR and GNI through the NFIA .....as what I mentioned in my previous posts...

    What is the best thing to do ULS to bring back this money?

  7. Join Date
    Nov 2005
    Posts
    39,210
    #17
    u gotta have a govt that's stable

    our country has a coup-de-tat (or rumors of it) every few years

    Would you invest your money in a country whose president could be forcefully removed every few years?

    Would you even keep your billions in a country like that?

    That's why rich pinoys put their money in foreign banks.

    At least those banks belong to countries with very stable governments.

    Walang bilib ang mga rich pinoys sa stability ng govt natin

    kaya madami sa kanila US, Canadian, Australian citizen... kung bumagsak ang Pinas, they just fly out of the country... then come back when things get better...

    like what Danding did after Marcos was deposed...

    Yan ang ayusin sana -- STABILITY

    Look at China... kahit communist yan... their govt is as solid as Mt. Everest

    it cannot be moved, cannot be knocked over.

    That's one reason (or the main reason) why China attracts the most investments.

    Our govt is nothing like that.

  8. Join Date
    Dec 2005
    Posts
    39,055
    #18

    When you say stable, to me, it also means that the policies for investment are steadfast. Does not change often like the weather...

    Less redtape, which indirectly translates to less corruption. Ease of doing business. Tax holidays et al.

    Power rate should be arrested as this is the second biggest expense of the company after salaries and wages. More infrastructures,- roads, buildings, telecommunication, airports, seaports et al.....

    Isip ko lang kung laundered money ang naka-invest sa labas.....

    6909:seehearspeak:

  9. Join Date
    Nov 2005
    Posts
    39,210
    #19
    yes, after you have a stable govt, u gotta have stable policies

    you gotta have rules that don't change at whim...

    or rules that change in the middle of the game

    and HONOR CONTRACTS

    and yup... the wealth stashed abroad could be stolen hehe

    but it's still capital if it's invested

  10. Join Date
    Aug 2008
    Posts
    1,099
    #20
    i dont know why some people perceive our govt. as being not business friendly.

    i have opened start-ups 4 times already. the 1st one was the one I hated the most bec. I got exposed to the what truly is our world out there - enterprising local city engineers, bir examiners, baranggay/municipal officials and there are even those who will give you a hard time getting your very own conceptualized business name.

    if i will really recall what happened that time, i'm also to blame. why bec. i'm a start-up. i'm cash-strapped. sometimes i thought they're milking me too much bec. i have limited budget. pero yun na nga, gusto ko maging katulad ng mga malaking businesses, i should be prepared to lose something also.

    the solution: hire an accountant/buffer or people on the know to these things. the next 3 start-ups was as smooth as oil when I opened it.

    if one wants to be a businessman in the Philippine setting, then he must be ready to spend more than the average employee turned entrepreneur. kaya nga ako, i dont like to be called "entrepreneur" bec. an entrepreneur is just a sitting duck from vultures.

    the importance of buffers and the willingness to spend more than the average "speculator" businessman are what measures a true businessman. if he can surpass this, then i'm sure he will be able to handle bigger challenges.

    kung tuusin, you dont need to be a rocket scientist to be able to weather thru this, it's all about money. business is all about money. you just have to learn when to let go of the money and to use it for bigger purposes.

    pero kung ang mentality ay puro kabig, or its opposite, puro tipid. hindi ka talaga makakapag-business dito sa Pilipinas.

    those who are at the top are master of this game na. akala ko ba *uls, it's all about being adaptive to the environment. pero ba't ngaun parang militant ka na din kung mag-labas ng problema sa gobyerno hehehe you confuse me ...

    the rich ones that we're talking about in this thread know this more than I do. why? bec. they're richer than us. but to say that they are investing in other countries bec. they blame the business climate is somewhat half-baked.

    the reason why the rich invest in other countries is bec. they are just diversifying their investments. it's as simple as that. dont put your eggs in one basket ...

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