Tuesday, January 19, 2021

Made To Be More: STI Gears Up For Another Semester Of Learning

LOOK! STI introduces the ONline and ONsite Education or the ONE STI Learning Model at the beginning of S.Y. 2020-2021.

Families Reinvent The Disney Experience With Globe At Home

Know more about “Disney’s Unboxing Celebrations" experience with Globe At Home!

SM Scholarship Program Receives Support From SM EDD

SM Foundation’s College Scholarship Program continues its mission to support economically challenged but deserving students by providing them access to quality education!

Save The Children Trains Teachers, Parents To Protect Children From Online Sexual Abuse

How can parents keep their children safe from online predators? Here are some simple tips:

Senate Energy CMTE To Probe NGCP IPO Delay

Senate Energy CMTE To Probe NGCP IPO Delay

Spotlight

Made To Be More: STI Gears Up For Another Semester Of Learning

LOOK! STI introduces the ONline and ONsite Education or the ONE STI Learning Model at the beginning of S.Y. 2020-2021.

Families Reinvent The Disney Experience With Globe At Home

Know more about “Disney’s Unboxing Celebrations" experience with Globe At Home!

SM Scholarship Program Receives Support From SM EDD

SM Foundation’s College Scholarship Program continues its mission to support economically challenged but deserving students by providing them access to quality education!

Save The Children Trains Teachers, Parents To Protect Children From Online Sexual Abuse

How can parents keep their children safe from online predators? Here are some simple tips:

The Senate Committee on Energy will take another look at the possible reason preventing the National Grid Corporation of the Philippines (NGCP) from going public.

Senator Win Gatchalian, chair of the Senate Committee on Energy, stressed that the initial public offering (IPO) of NGCP, which is mandated under the law, is now long overdue as the ten-year deadline has passed and, therefore, depriving Filipinos of their fair share in the public utility.

Moreover, Gatchalian pointed out that the Philippine Stock Exchange (PSE) has yet to comply with the submissions required of them during the first Senate inquiry on the issue, while the Energy Regulatory Commission (ERC) has yet to update the Committee on its compliance with its submission.

It would be recalled that on April 3, 2019, the Senate Committee on Energy ordered the ERC to submit a firm time table for the resolution of the NGCP’s case, which will determine whether NGCP can extend its IPO. The ERC, in its submission, stated that the issuance of the Commission’s decision on the case will be on 29 October 2019.

The Senate committee also asked the PSE to provide a simulation/research as to why an NGCP IPO with unfavorable market conditions mostly related to the company’s relationship with regulators and government agencies is detrimental to consumers.

“We want to tackle the IPO issue of the National Grid because we think this is going to be beneficial to our consumers directly and indirectly. We will conduct this hearing to understand from both the ERC and DOE as to where we are in this initial public offering of the NGCP,” Gatchalian stressed.

“In the end, the Congress, being the representative of the people, we were the ones who approved this franchise with condition of the IPO. So we’re answerable to the people why the IPO hasn’t been executed after 10 years. From my standpoint right now, I don’t see that deep rationale why the IPO didn’t happen,” he added.

Under the NGCP’s charter, it has 10 years from January 15, 2009 to comply with its statutory requirement to offer at least 20% of its outstanding capital stock to the public. The 10-year period ended on January 15, 2019

Based on its Audited Financial Statements, the NGCP declared a total cash dividend of ₱169.893 billion in the past nine years. Had there been an IPO IN since 2009, the public would have received ₱33.98 billion in dividends.

However, the NGCP filed a petition before the ERC on November 13, 2018 to extend the IPO by one year, which it said was allowed under the law. During the hearing of the Senate Committee on Energy conducted in April, the NGCP blamed pending disputes with the National Transmission Corp. (Transco) and the Power Sector Assets Liabilities and Management (PSALM) for the delay of its IPO.

Gatchalian believes that the NGCP float will benefit Filipino consumers since it will promote greater public participation in an important public utility. Such participation includes attending and casting votes during stockholders’ meetings to ensure stronger corporate governance.

There will also be greater transparency in the NGCP since publicly listed companies will require three independent directors, real-time disclosure of material information, public annual report, public declaration of dividends, brand and seal of good housekeeping, according to the senator.

“I think the consumers will stand to benefit either directly or indirectly in the participation on the governance of the utility. Because even with one share, your voice will be heard,” Gatchalian said. “And with that one share, the alignment that was mentioned before will happen, but without any public participation, there is no way for the public to align their direction with the utility.”
Photo Credit: facebook.com/WinGatchalian74

19 Couples Tie Knot In NegOcc Mass Wedding

Nangingibabaw pa rin ang pagmamahalan sa kabila ng pandemiya! Congratulations to the newlyweds!

Public Urged To Trust Experts On Safety Of Covid-19 Vaccines

Tiwala ang panawagan ni Spokesperson Harry Roque sa publiko sa pagdadalawang-isip ng karamihan na magpabakuna laban sa Covid-19.

Sto. Niño Devotees Urged To Follow Covid-19 Safety Rules

Why faith should not be like 'bahala na' attitude?

No Street Parties, Parades During Manila’s Sto. Niño Fiesta

Street parties and grand parades will not be allowed during the Sto. Niño festival in Tondo and Pandacan.

Sen. Go Aids Fire Victims, Trike Drivers In Bulacan Town

Senator Bong Go nanguna sa pagtulong sa mga nasunugan sa Bulacan at nangako itong uunahin ang mga mahihirap na mabakunahan laban sa COVID-19.

Kidapawan City Indigents Avail Of Free Birth Registration

Ayos! Sa Kidapawan, maaari ng kumuha ng birth certificate at magpa-late registration ng libre. Alamin ang “Rehistro Mo, Sagot Ko” project para dito.

US Grants P42-M To Address Ocean Plastic Pollution In PH

The U.S grants PHP42 million to five organizations in the Philippines with programs that aim to address plastic pollution.

Vice President Leni Robredo Visited The Province Of Bulacan

Look! VP Robredo leads the turnover of her office's livelihood assistance to several beneficiary groups in Bulacan.

The Spirit Of Bayanihan Lives Through DonationBox.com

Sa panahon ng sakuna, hindi pa rin matatawaran ang pagiging matulungin ng mga pinoy. Alamin kung paano magdonate gamit ang DonationBox.com.

Recruiters Urged To Give Covid-19 Briefing To Land-Based OFWs

What should everyone know about the new Memorandum Circular No. 01 for recruitment agencies and OFWs?

Spotlight

Made To Be More: STI Gears Up For Another Semester Of Learning

LOOK! STI introduces the ONline and ONsite Education or the ONE STI Learning Model at the beginning of S.Y. 2020-2021.

Families Reinvent The Disney Experience With Globe At Home

Know more about “Disney’s Unboxing Celebrations" experience with Globe At Home!

SM Scholarship Program Receives Support From SM EDD

SM Foundation’s College Scholarship Program continues its mission to support economically challenged but deserving students by providing them access to quality education!

Save The Children Trains Teachers, Parents To Protect Children From Online Sexual Abuse

How can parents keep their children safe from online predators? Here are some simple tips:

Lifestyle

Max’s All-You-Can™ Is Back And Better Than Ever!

Hindi lahat ng nang-iiwan, hindi na bumabalik. Max’s All-You-Can is back!

Yellow Cab Introduces Its New Thin Crust Pizza, Starting At Just P249

New year new taste. Yellow Cab's New York Style Thin Crust Pizza is now available. The price starts at P249!

Mrs. Garcia’s: The Meat Of The Matter For The New Normal

Looking for fresh and quality meats at affordable prices?

2020 Up In Flames: Watch Kenny Rogers Roaster’s Fitting Year-Ender

Kenny Rogers Roasters Philippines is literally roasting 2020! Check out this video!

Entertainment

1st BGYO Fan Conference Set On January 29 On KTX.PH

Kilig to the bones ba ka mo? Abangan ang mga pasabog sa fans ng bagong P-Pop boy group na BGYO sa kanilang grand launch ngayong Jan. 29 na!

Ogie Introduces “Eydie Waw” And “The Wawettes” In Funny New Track “Maga Ako, Manas Ako”

Bagong LSS ngayong 2021. Alamin ano ang behind-the-story sa bagong kanta ni Ogie na 'Maga Ako, Manas Ako.'

Alden Richards Is All Set To Delight Viewers With ‘Alden’s Reality: The TV Special’

Abangan ang first-ever virtual reality concert ni Alden Richards ngayon Jan. 17 na!

More Stories

30 New ‘Modern’ Jeepneys To Ply Cebu City Roads

Beep! Beep! Tingnan ang makabagong disenyong jeep sa Cebu!

1st BGYO Fan Conference Set On January 29 On KTX.PH

Kilig to the bones ba ka mo? Abangan ang mga pasabog sa fans ng bagong P-Pop boy group na BGYO sa kanilang grand launch ngayong Jan. 29 na!

Duterte Meets With China’s Foreign Minister Wang Yi

Alamin ang napagkasunduan nina Duterte at China’s Foreign Minister Wang Yi sa pagbisita nito sa Pinas.

Northern Samar To Hire Displaced Gov’t Nurses

Good news para sa mga nurse sa Northern Samar!

Partnership To Increase Farm Machines’ Availability

Agri tayo dito! The 4 new government tech-funded machines will be evaluated by DA-PhilRice.

Travel

Panagbenga 2021 Postponed Due To Pandemic

Walang Panagbenga ngayong taon. 🙁

Radisson Hotel Group Rises Above Challenges To Add 84 New Hotels Across Asia Pacific

Radisson Hotel Group adds 84 new hotels and resorts, covering eight of its distinct brands.

PH Open To Tie-Up With Other Countries To Boost Int’l Travel: DOT

Good news sa mga gusto nang makapag-travel sa labas ng bansa!

Motoring

30 New ‘Modern’ Jeepneys To Ply Cebu City Roads

Beep! Beep! Tingnan ang makabagong disenyong jeep sa Cebu!

After Connecting North And South With Skyway 3, SMC Starts Work To Link East And West

Bukod sa Skyway Stage 3, may inaayos na rin na Pasig River Expressway (Parex).

Skyways To Free Pinoys From ‘Horrendous’ Traffic Jams: PRRD

Skyway Stage 3 na nga ba ang sagot sa nakakabagot na traffic sa Metro Manila?