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Power Struggle: Iloilo City deserves MORE Power

MORE Power

MORE Power is an electricity distribution company challenging the long-standing company, Panay Electric Company (PECO). For so long, MORE Power is lambasted online and offline as people criticize the company for being ready without any facilities such as posts, meters and cables. However, MORE did not try to brag their facilities for the moment as to secure their warehouses and resources during the process of power turnover in the city. Now, let’s us have a closer look at MORE.

MORE Power

MORE Power had less than a year when they got the franchise. The House Bill No. 8302 that aims to grant the company a franchise to be a distribution company underwent a rigid approval and was signed into law as Republic Act 11212 last February 14, 2019. RA 11212 was then made effective on March 6, 2019. This grant is termed to expired after 25 years, March 6, 2044.

MORE Power

Republic Act 11212 is an Act Granting More Electric and Power Corporation a Franchise to Establish, Operate, and Maintain, for Commercial Purposes and in the Public Interest, a Distribution System for the Conveyance of Electric Power to the End Users in the City of Iloilo, Province of Iloilo, and Ensuring the Continuous and Uninterrupted Supply of Electricity in the Franchise Area. 

As published on the Official Gazette’s website:

https://www.officialgazette.gov.ph/

MORE Power in their tagline Bringing More To Life, they are a service-oriented company committed to bringing only the best customer experience to the electric consumers of Iloilo City. They fully appreciate the grave need to provide the City of Iloilo with a modernized, reliable, cost-effective, flexible and scalable power supply delivery system. As a vision, the company desires to be a preferred electric distribution utility provider that responds to the dynamic needs of consumers and delivers competent energy solutions. On the go with a noble mission, they aim to maintain their electric services in a friendly, safe, effective, non-discriminatory, cost-efficient and helpful way.

MORE Power

MORE Power Line Truck

MORE Power stands out by having four major goals for Iloilo City.

IMPROVEMENT OF THE DISTRIBUTION SYSTEM’S RELIABILITY

    • To provide reliable, safe, and quality electric services by investing in the upgrading of the existing electrical framework of Iloilo City.

THE MINIMIZATION OF FRANCHISE-WIDE OUTAGES

    • To maintain an effective distribution maintenance plan to eliminate or minimize interruptions and outages.

COMMITMENT TO COMPETITIVE POWER RATES

    • To bring more to the lives of the Ilonggos and foster business growth by ensuring that its power rates are maintained at the least cost.

CUSTOMER SATISFACTION

    • To create a meaningful customer experience with the consumers through the delivery of excellent customer services.
MORE Power

MORE Power Meters

Pursuance to their goals, MORE Power wants to take the customer service to higher ground. They will trim down the application requirements, from having more than 10 requirements to only four. This makes the process more customer-friendly. The company will also have Spot Billing in all district, 24/7 Hotline, 24/7 Quick Response Team, Key Accounts Management, and Dispute Resolution.

With the recent blackout due to energy monopoly in the area, Iloilo City deserves MORE Power and what it offers. As business goes by, competition is fine with the right civility and brand inclusivity in the market. But with the setup of the current energy distribution company where generally, there can only be one single direct source puts the whole city on the brink of city-wide shutdown should there be a problem with the “only” source. This is where competitors come to aid the greater need of the market.

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Event

Megaworld International Corporate Plaza To Sell Office Spaces Iloilo Business Park

Megaworld International Corporate Plaza

ILOILO CITY, Philippines, July 24, 2019 – Property giant Megaworld is launching a new office tower in Iloilo Business Park, with 301 prime office units for sale to businesses, start-up companies, and established enterprises that want to set up operations in Iloilo’s newest ‘central business district.’

The 19-storey International Corporate Plaza offers prime office spaces ranging from 26 square meters to 65 square meters. With an average price of P155,000 per square meter, the tower will house ‘managed facilities’ at the 6th level, that include two Boardrooms, three meeting rooms, co-working and breakout areas, an Executive Lounge, and a Skygarden.

Another skygarden will be found at the International Corporate Plaza tower’s rooftop, providing a refreshing, tranquil views of the bustling cityscape as well as Guimaras Island.

“So far, this will be the most modern and state-of-the-art office tower in Western Visayas where companies including entrepreneurs can own their office spaces and enjoy its generous facilities never been seen before in any office building in the region,” says Jennifer Palmares-Fong, vice president for sales and marketing, Iloilo Business Park.

To rise within the township’s 9-hectare Commercial and Boutique Hotel District, the International Corporate Plaza will also have a four-level parking podium, retail spaces and arcade area at the ground floor. Keycard-enabled turnstiles will provide enhanced security for the building’s main lobby, and RFID cards will be used to secure the parking areas.

Megaworld International Corporate Plaza

The new office tower will also be fiber optic-ready, and equipped with its own seismic detection and monitoring system, building management system (BMS), 24-hour Security and Fire Command Center, fire security system, and a 100% back-up power facility.

“One of the main highlights of the tower is its enhanced security and safety features, another first in Western Visayas,” adds Palmares-Fong.

Aside from the skygardens, the International Corporate Plaza will also be highlighted by other green and sustainability features that include the use of LED lightings in the tower’s common areas such as hallways, lobby and amenity floor; use of dual flush-type water closets in common toilets, and a Materials Recovery Facility (MRF) for proper waste segregation and recycling.

The tower is expected for completion in 2024. The company is expected to generate P2-billion in sales from this new office development to be known as the most modern International Corporate Plaza packed with green facilities.

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Power Struggle: Iloilo City deserves MORE Power
November 15, 2019
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Event

MEGAWORLD UPDATE: Megaworld’s net income jumps 17% to record high of P15.8-B in 2018

Megaworld Update

Megaworld Update: “Office, mall, residential, and hotel businesses see double-digit growth during the year”
MANILA, Philippines, April 08, 2019
‐ Megaworld, the country’s largest developer of integrated urban townships, saw its net income grow by 17% to P15.8-billion in 2018 from P13.6-billion (excluding P113-million non-recurring gain) the previous year. Net income attributable to parent company ended at P15.2-billion by end-December 2018, a 17% jump from P13.0-billion in 2017 (excluding P113-million non-recurring gain).

Consolidated revenues grew about 15% to P57.4-billion in 2018 from the previous year’s P50-billion (excluding P113-million non-recurring gain).

The company’s rental businesses, comprising of office and lifestyle mall leasing, strongly contributed to the topline, soaring 21% to P14.3-billion in 2018 from the previous year’s P11.8-billion. This contributed 25% of the total consolidated revenues during the year.

Megaworld Update: In 2018 alone, Megaworld has already achieved over 70% of its rental income target of P20-billion by end of next year.

Last year, Megaworld opened its biggest mall development outside of Metro Manila, the Festive Walk Mall in Iloilo Business Park, offering around 90,000 square meters in gross floor area. It also opened two new community malls – the San Lorenzo Place in Makati City, and The Village Alabang in Las Piñas City.

Also last year, the company closed a historic deal in Philippine real estate when it bagged the long-term lease contract to build the 25-storey Philippine Global Service Center of JPMorgan Chase Bank, N.A. It was regarded as the country’s biggest single lease transaction to date, with around 70,000 square meters of ‘build-to-suit’ office spaces for a single company alone.

“We have already secured multiple pre-lease deals for our office buildings as well that are in the pipeline until next year. Same goes to our mall and commercial spaces that are set to open in our various townships. For our residential properties, we continue to see strong take-up especially in our mature townships, and there is already a consistently growing interest in our newly-launched townships,” says Kevin L. Tan, chief strategy officer, Megaworld.

Megaworld’s residential business, on the other hand, saw a double-digit growth of 11.5% in 2018 to P38.0-billion from P34.1-billion during the same period the previous year. This contributed to 66% of the total consolidated revenues during the year.

The Megaworld Group launched 25 residential projects in 2018, with a total sales value of around P106-billion. The company also achieved P135-billion worth of sales reservation during the year.

Megaworld’s hotel business, likewise, grew its revenues by about 14% to P1.5-billion compared to P1.3-billion in 2017. The company launched two new hotels last year: the 684-room Savoy Hotel Manila in Newport City, and the 126-room Twin Lakes Hotel in Twin Lakes, Laurel, Batangas. This brought the number of Megaworld Hotels to seven (7) by end-2018.

“We have gained the fruits of our expansion in the regions as we saw continuing growth in the demand for residential units as well as office and commercial spaces in our various townships across the country. Perhaps, as we build these townships, people saw the advantage of living where they work, and living where everything is just within reach. This model makes every aspect of our business viable and expandable, and we continue to spot for opportunities where we can further grow and innovate our offerings,” explains Tan.

Megaworld Update: Just several weeks ago, together with its subsidiary Empire East Land Holdings, Inc., Megaworld introduced its 24th township, the 24-hectare Highland City along F. Felix Avenue in Cainta, Rizal. It allocated P20-billion to develop the township within a 10-year period.

Megaworld Update: Over the last 30 years, the Megaworld Group has expanded its township developments across the Philippines that include: Eastwood City in Libis, Quezon City, (18.5 hectares); Newport City in Pasay City (25 hectares); McKinley Hill (50 hectares), McKinley West (34.5 hectares), Uptown Bonifacio (15.4 hectares) and Forbes Town (5 hectares), all in Fort Bonifacio, Taguig City; The Mactan Newtown in Lapu-Lapu City, Cebu (30 hectares); Iloilo Business Park in Mandurriao, Iloilo City (72 hectares); Sta. Barbara Heights in Sta. Barbara, Iloilo (173 hectares); Boracay Newcoast in Boracay Island (150 hectares); Twin Lakes in Batangas near Tagaytay (1,300 hectares); ArcoVia City in Pasig City (12.3 hectares); Southwoods City in the boundaries of Cavite and Laguna (561 hectares); Davao Park District in Lanang, Davao City (11 hectares); Alabang West in Las Piñas City (62 hectares); Eastland Heights in Antipolo, Rizal (640 hectares); Suntrust Ecotown in Tanza, Cavite (350 hectares); Maple Grove in General Trias, Cavite (140 hectares); The Hamptons Caliraya in Lumban-Cavinti, Laguna (300 hectares); The Upper East (34 hectares) and Northill Gateway (50 hectares) both in Negros Occidental; Capital Town Pampanga beside the Pampanga Provincial Capitol in the City of San Fernando (35.6-hectares); and Westside City in the Entertainment City in Paranaque City (31 hectares.)

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Power Struggle: Iloilo City deserves MORE Power
November 15, 2019
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