Portfolio

BPI-inspired energy financing

The Legend Hotels International Corp. signed a memorandum of agreement with ELYO South East Asia Pte Ltd., for the latter to do an investment grade energy audit (IGA) for Kabayan Hotel in Pasay. The IGA will include analysis and monitoring of electricity consumption and breakdown of electricity supply installations related to air-conditioning, lighting, lifts, air exhaust systems etc. It will also include the validation of the client’s current operating costs. The Bank of the Philippine Islands initiated the enegy audit under the BPI-IFC Sustainable Energy Finance program (SEF). The SEF is a partnership between BPI and the International Finance Corp. It aims to provide assistance to private companies for them to invest in technologies that will generate savings in their energy consumption. It also aims to introduce the Energy Service Company methodology where energy savings are guaranteed and shared by both parties.

New PIRA board members

The newly elected board members of the Philippine Insurers and Reinsurers Association (PIRA) are: Ramon Dimacali of Federal Phoenix, Ben Gubat of Generali Pilipinas, Enofre Manuel of Malayan Insurance, David Mercado of Utility Assurance, Victoria Roman of R & B Insurance, Rhodora Morales of Plaridel Insurance, Emmanuel Que of Philippine Charter Insurance, Michael Rellosa of Fortune General Insurance, and Honorio Ramajo of Mercantile Insurance. PIRA is the umbrella organization of non-life insurance companies.

UP wins CFA contest

The Team Amidala of the University of the Philippines won the Investment Research Challenge (IRC) organized by CFA Philippines, and took home the P100,000 prize. By winning the contest, Team Amidala will represent the Philippines in the IRC Regional competition to be held this month in Singapore. The regional winner will receive $5,000 and will compete with top-notch schools in the global IRC to be held in London. The Global IRC winner will receive a prize of $10,000. Team Amidala presented their research reports on Manila Water Co. to a panel of judges composed of investment professionals. The IRC is a global competition that aims to educate the market in fundamental research analysis. Citisec Online, Bloomberg, the Philippine Stock Exchange, and Seaoil Petroleum are the sponsors of the country’s first IRC.