SDH Institute, PHINMA UI forge partnership

SCHOOL D’ Hospitality Institute (SDH Institute), launched its partnership with PHINMA University of Iloilo (PHINMA UI) in a program held at the Washington Sycip boardroom of PHINMA UI.

Established in Year 2007, SDH Institute is a forward looking school with a clear focus on hospitality education. Their programmes not only equip students with the professional and business knowledge and skills for the global hospitality industry, but also aim to inculcate an attitude of service excellence and entrepreneurship.

Their comprehensive range of Certificate, Diploma, Advanced Diploma, Post-Graduate, Bachelor’s Degree, Master’s Degree and professional learning programmes, unique learning approach and caring student support create a truly distinctive educational experience.

Through this partnership, students from Iloilo City are given the privilege and opportunity of earning internationally recognized Singaporean Diplomas on top of their bachelor’s degree, ensuring higher chances of employability.

PHINMA UI is a member of the PHINMA Education Network, a chain of schools that provides affordable high quality education in the Philippines. Driven by its mission of “Making Lives Better Through Education”, PHINMA UI produces competent and employable Filipino graduates who can help build the nation.

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Flavorful treats from the heart: Chef Tatung in Iloilo

By: Justine Christiamarie S. Obando

ILONGGOS are in for an exciting and once-in-a-lifetime treat this weekend with a world class chef exhibiting his talents for the first time in Iloilo City!

Filipino Chef Mike Tatung Sarthou will be conducting a cooking demo for Ilonggo gourmands and foodies on August 5, 2017, 4 p.m., at SM City Southpoint.

He will show his amazing talent for the first time here in Iloilo and lucky Ilonggos will get the chance to have him sign copies of his award winning book.

Chef Tatung was recently named the World’s Best TV Celebrity Chef Outside Europe at the 22nd Gourmand World Cookbook Awards 2017.

His cookbook, Philippines Cookery: From Heart to Platter. is the national winner in the Gourmand  Awards held last January, besting entries from 57 countries.

In addition, let your senses explore the succulent variations of dishes by the wonderful tenants of SM City Southpoint.

The Festival of Flavors features the succulent dishes that whole families and barkadas will enjoy. For P50, try out delicious samplers of their signature dishes from 2 pm onwards this weekend, August 5 to 6, 2017 and enjoy Iloilo’s blossoming family and barkada hangout hub.

Relax and enjoy too the Happy Hour promos for a wonderful weekend experience.

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AboitizPower posts P9.7 billion net income in first half

As 2017’s first half drew to a close, AboitizPower Corporation (AboitizPower) saw an 18% year-on-year (YoY) increase in consolidated EBITDA (earnings before interest, taxes, depreciation, and amortization), from P18.4 billion to P21.8 billion.

“Our core power generation and power distribution businesses have continued to post significant growth. Our new power plants are contributing significantly while our existing power plants are continuously improving in terms of availability and reliability. We will continue, likewise, to take advantage of the economic growth in our franchise areas by providing reliable and cost-effective power coupled with the best possible service,” said Antonio R. Moraza, AboitizPower President and Chief Operating Officer.

“Our projects in the pipeline are on track and continue to be aligned with our balanced-mix strategy. These projects will push us to reaching our target of 4,000 MW of net attributable capacity by 2020,” Moraza added.

However, increased interest expense and depreciation narrowed the growth at the core net income level to 6% YoY, from P9.8 billion to P10.5 billion. The company posted a net income of P9.7 billion for the first half of the year — a 2% decline YoY attributed to non-recurring losses of P744 million (versus last year’s gain of P130 million) from foreign exchange losses on the revaluation of dollar-denominated liabilities.

 

Power Generation

The power generation business group accounted for 84% of AboitizPower’s EBITDA, recording a consolidated share of P18.0 billion for the first half of 2017, up 22% YoY. At the core net income level, the generation business grew 8% YoY from P8.2 billion to P8.9 billion. After taking into account one-off items, AboitizPower’s generation business income contribution amounted to P8.1 billion, almost flat compared to the same period last year.

For the period, AboitizPower’s capacity sold increased by 33% YoY, from 2,033 megawatts (MW) to 2,706 MW, mainly driven by the additional capacity of GNPower Mariveles Coal Plant Ltd. Co. and higher capacity sold from hydro units due to better hydrology in 2017.

 

Power Distribution

EBITDA for the distribution business increased by 3% YoY from P3.3 billion to P3.4 billion. Net income contribution increased by 3% YoY for the first half of 2017 to P1.8 billion.

The group’s gross margin on a per-kilowatt-hour basis for the period increased to P1.63 from P1.50 in the first half of the year. The improved margins came from better supply mix and recoveries on purchased power costs.

AboitizPower’s attributable sales in the distribution group for the period was at 2,546 gigawatt-hours, registering a 1.4% increase from the same period last year.

 

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