FIRST GEN Corp. is looking to bring in more partners for its liquefied natural gas (LNG) terminal project as it schedules to break ground by month’s end and targets to make a final investment decision by early 2020 in time for a 2024 completion date.
“We aim to finalize the financing for the project and execute the relevant key project agreements, including LNG supply and firm up our strategic partners for the project,” Francis Giles B. Puno, First Gen president and chief operating officer, told stockholders during their annual meeting on Wednesday.
“In fact, we are going to have our formal groundbreaking at the end of the month,” he added.
Mr. Puno said the existing partnership with Tokyo Gas Co., Ltd., which was forged in December last year, will proceed with the project ahead of a final investment decision (FID).
Speaking at the opening ceremony, Ajit Manocha, CEO of SEMI said that SEMICON Southeast Asia 2019 underscores the significance of the Electrical and Electronics (E&E) segment’s economic contribution to Malaysia. “The showcase aims to bridge Malaysia’s three important electronics clusters while at the same time, serve as a central connection point to the rest of Southeast Asia’s electronics manufacturing supply chain. With the rapid proliferation of digital technology across a multitude of applications market, Southeast Asia electronics manufacturing especially Malaysia, Singapore, Thailand, Vietnam and the Philippines will continue to expand the semiconductor market share and growth.”
“A strong manufacturing sector would pave the way to enhancing productivity, job creation, innovation capacity, high-skilled talent development and ultimately economic prosperity and societal well-being. Hence, given Malaysia’s strong manufacturing base built over the years and on-going Industry4WRD initiatives, the country is well positioned to be a primary destination for smart manufacturing and a location for more high-tech activities.” said Dr. Ong Kian Ming. He also shared that the approved investments in the electrical and electronics industry by MIDA has increased from RM9.7 billion in 2017 to RM11.2 billion in 2018, which is an encouraging sign despite the slowing global technology cycle and global trade tensions. It is a healthy indication that Malaysia’s economy is moving in the right direction.
MERCHANDISE TRADE remained a drag on overall economic growth last quarter, as export receipts declined for the fourth straight month in March while import payments continued to increase.
Preliminary data released by the Philippine Statistics Authority (PSA) said merchandise exports declined by 2.5% year-on-year by the end of the first quarter. This resulted in sales of $5.876 billion in March from $5.222 billion in February and $6.024 billion in March 2018.
Electronic products — which accounted for more than half of export earnings — declined by 3.7% to $3.231 billion from $3.354 billion recorded in the same period of 2018.
Year-to-date, overseas sales of electronic products slipped by 1.7% to $8.841 billion.
Outbound shipments of manufactured goods, which accounted for 82.5% of total exports, went down 3.8% to $4.848 billion from $5.037 billion in March 2018.
THE country’s trade deficit widened to $3.14 billion in March from $2.34 billion a year ago and $2.79 billion in February as imports expanded and exports contracted, the Philippine Statistics Authority (PSA) reported on Wednesday.
In a statement, the state-run statistics agency said total export sales in the third month of the year slipped by 2.5 percent to $5.88 billion from $6.02 billion in 2018, while inbound shipments increased by 7.8 percent to $9.01 billion from $8.36 billion year-on-year.
It blamed the export decrease on the decline in sales of machinery and transport equipment (-10.2 percent), other manufactured goods (-8.1 percent), electronic products (-3.7 percent), and metal components (-1.2 percent).
MANILA, Philippines — The Asian Institute of Management (AIM) has bested leading universities in Asia in the technological innovation category in the first Asia Awards organized by London-based Times Higher Education (THE).
AIM was awarded the Technological Innovation of the Year award during the THE Asia Universities Summit held in Abu Dhabi last week.
The recognition is awarded to higher education institutions that show innovative use of technology to improve function in the institutional, departmental or faculty level.
AIM was awarded for its Analytics, Computing and Complex Systems (ACCeSs@AIM) laboratory, which was established to complement existing academic programs and bridge the gap between theory and practice for research-led teaching in higher education.