PLDT to cut costs as Q1 profit falls 6% Firm invests $142 million in media business

Sunday, 19th May 2013

Police Gallery

15-0 SWEEP GOOD BUT…

By: Francis Allan L. Angelo

THE complete sweep accomplished by the administration group of the Iloilo City government is a seal of satisfaction for the present dispensation but it does not mean that the private sector, especially the business group, will become fence-sitters in the next three years.

Ma. Lea Victoria E. Lara, Iloilo Business Club executive director, said the 15-0 score of the ruling bloc led by Rep. Geronimo Buenaventura “Jerry” Treñas and Mayor Jed Patrick Mabilog is an indication that the public wants continuity and stability in the city.

Aside from Treñas and Mabilog, other winning candidates from the administration bloc are Vice Mayor Jose Espinosa III and Councilors Nielex Tupas, Lyndon Acap, Joshua Alim, Liezl Joy Zulueta, Armand Parcon, Rodel Fullon-Agado, Lady Julie Grace “Love” Baronda, Jose Efrain “Jay” Treñas, Jason Gonzales, Eduardo Peñaredondo, R. Leone Gerochi and Plaridel Nava.

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Jun Biron tells Tupas to retire

By: Tara Yap

DESPITE having all the resources of the national and provincial governments at their disposal , the Tupas clan failed to completely topple the Birons in Iloilo’s political landscape.

Former governor Niel Tupas Sr. of the Liberal Party had the backing not only of Senator Franklin Drilon but also of President Benigno Aquino III but it was not enough to defeat Board Member Hernan “Jun” Biron Jr. (United Nationalist Alliance) in the race for the 4^th congressional district seat.

Biron edged out Tupas by 3,517 votes after garnering 80,296 votes against the latter’s 76,779 ballots.

Votes from Biron’s hometown Barotac Nuevo, Anilao, Dueñas and Passi City boosted his victory despite Tupas’ surprising wins in San Enrique, Dumangas, Banate and Dingle.

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End of the line for Syjucos

By: Tara Yap

CONGRESSMAN Augusto “Boboy” Syjuco Jr. and his wife will end their 15-year rule in the 2^nd district of Iloilo province on June 30.

Syjuco lost to Pavia Mayor Arcadio Gorriceta in the May 13 elections in a three-way race with I-Care party list Rep. Salvador Cabaluna III in the 2^nd district.

“The people have finally been awakened,” Gorriceta said.

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The company said it was seeking to further expand its broadband services as the cost of smartphones continue to fall locally.

PLDT also said its board of directors approved a P6-billion ($142 million) investment by its ePLDT unit in its sister firms, TV and radio network TV5 and direct-to-home pay-TV operator Cignal TV.

"The financial investment in media is important and expected to create value over a longer time frame, but is one that is necessary for our growth and transformation," PLDT Chairman Manuel Pangilinan said in a statement.

Integration

"We are beginning to see early signs of stability as we follow through on the integration of Digitel," Napoleon Nazareno, company president, said in the same statement.

"We expect a gradual improvement in product yields and overall profitability from the ongoing rationalization on both services and brands front," he said.

PLDT, owned by Hong Kong's First Pacific Co Ltd, Japan's NTT Communications and NTT DoCoMo, said net income was P10.1 billion in the first three months compared with P10.7 billion a year earlier.

Core net profit, which excludes currency and derivatives-related items, fell 12 percent to P9.3 billion.

PLDT said it was keeping its 2012 core net profit guidance of P37 billion, down 5 percent from last year, despite the first-quarter results.

Analysts expect full-year net profit to fall 2 percent to P38.1 billion, according to consensus estimates by Thomson Reuters I/B/E/S.

Service revenues climbed 13 percent to P42.8 billion in the first quarter. Wireless service revenues rose 15 percent from a year ago, and would have fallen 4 percent if not for Digitel's contribution, the company said.

Shares of PLDT fell 0.6 percent at the end of morning trade, compared with the 0.2 percent decline in the broader market, The stock has risen nearly 1 percent this year, underperforming the 21 percent surge by the main index. (Reuters)

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New old

May 18,2013 12:52 AM

By: Artchil B. Fernandez

And the winner is – the politics of the stomach. This is the verdict of the recently concluded national and local elections. Unprecedented vote-buying ruled the day. Vote buying had been around since the time the dictator Ferdinand Marcos made it a regular fixture in Philippine elections but in the last election it has worsened. Read more...

Various Roles of the Holy Spirit

May 18,2013 12:50 AM

PENTECOST SUNDAY

Gospel Reading: John 14:15-16.23-26

This Sunday the Church celebrates the Solemnity of the Pentecost or the descent of the Holy Spirit upon the disciples after the Lord’s resurrection (Acts 2:1-13). The term “Pentecost” comes from the Greek word pentekosté meaning “fiftieth (sc. day).” Fr. Roland de Vaux, OP – a prominent Biblical scholar – in his monumental work Les institutions de l’Ancien Testament (Paris 1958-1960), Read more...

‘Strike a match’

May 18,2013 12:48 AM

By: Juan L. Mercado

(FOR A post-election change in pace, we'll skip discussing PCOS machines, losing candidates, to economics this Sunday. It happens to be the end of the Easter season. Therefore, we're sending in a column on Pentecost written by Deacon Greg Kandra. You'll find Kandra's writing snappy and to the point. Enjoy. – JLM)

If you had to name one of the most quoted speeches of the 20th century, one near the top of any list would be the inaugural address of John F. Kennedy in 1961, with his call: “Ask not what your country can do for you; ask what you can do for your country.” Read more...

Dynastic grip

May 18,2013 12:46 AM

By: RANIE Z. JANGAYO

YESTERDAY’S banner story of The Daily Guardian, “LP-backed dynasties maintain grip in Iloilo” clearly proves that the electorate does not give a hoot whether a candidate belongs to a political dynasty or not.

Meaning, the dynasties will continue to rule. Look at all the winners in the provincial local elections. Read more...

Saving the mills

May 18,2013 12:44 AM

By: Modesto Sa-onoy

FIRST, LET me reiterate my earlier announcement that I do not have a Facebook account so that whoever is using my name is a fraud. I hope my friends who get into this faked account can tell the owners that they are committing a crime for misrepresentation and misuse of the internet. There is such thing as a cybercrime.

I promised history buffs that after the election, I will again give time and space to articles dealing on history. Read more...