Briefs: ICTSI Ecuador launches 1st banana transport insurance program

Contecon Guayaquil SA, the Ecuadorian subsidiary of International Container Terminal Services Inc. (ICTSI), is supporting growers at the world’s largest banana-exporting port with a comprehensive insurance program, giving them greater coverage for the transport of the country’s prized produce.

Designed according to the needs of Ecuador’s export market, SIE, Ecuador’s first integral insurance for banana exporters, was launched recently through efforts of CGSA-led Logistics Community of the Port of Guayaquil (Comunidad Logistica del Puerto de Guayaquil — CLPG).

Supported by RSA Seguros as advisers and multi-national insurers CHUBB and Zurich, growers are ensured of a single global insurance coverage for banana exports, from container handling, transport, and third-party damages.

Being an indispensable tool for the commercialization of Ecuadorian bananas to international markets, insurance serves as a key step to support the growing needs of the industry, bananas being the country’s main export product after petroleum.

More than 60 percent of production is exported to two main markets: the European Union and the United States of America. The country also supplies Russia and Asia.

Photo sghows (top row from left) Ricardo Jacinto, TLDC Director; Dr. Jose Paulo, TLDC Shareholder; Luis Lorenzo Jr., TLDC Shareholde); Regina Lorenzo, TLDC Shareholder; Mabel Acosta, City Councilor of 1st District of Dava; Narzalina Lim, TLDC Director; Emmanuel Rapadas, TLDC CFO; Dante Briones, TLDC Director; (bottom row, from left) Sen. Christopher Lawrence“Bong” Go; Cabinet Secretary Karlo Nograles; Secretary Bernadette Romulo-Puyat; President Rodrigo Roa Duterte; Tomas Lorenzo, TLDC CEO; Lim, Boon Kwee, Dusit International COO; Christopher Wichlan, general manager of dusitD2 Davao hotel).

Torre Lorenzo Development Corp. (TLDC), together with Dusit International, are changing the landscape of Davao with the inauguration of dusitD2 Davao hotel. The dusitD2 Davao is TLDC’s latest premium development in the Davao region.

In an inaugural event held on 6 September 2019, TLDC chief executive officer Tomas Lorenzo and Dusit International chief operations officer Lim, Boon Kwee welcomed guests to the Dusit Thani Grand Ballroom to mark the official opening of dusitD2 Davao hotel.

Keppel Land Limited (Keppel Land) and BDO Unibank, Inc. (BDO), a member of the SM Group, marked the grand opening of the office and retail mixed-use development, The Podium, at a ceremony in Manila, Philippines, today. Keppel Philippines Properties, a subsidiary of Keppel Land, holds a 40 percent stake in The Podium, while BDO and an associate company hold the remaining stakes.

The Guest-of-Honour was Madam Halimah Yacob, President of the Republic of Singapore, who was accompanied by Mr Mohamed Abdullah Alhabshee; Indranee Rajah, Minister, Prime Minister’s Office, Second Minister for Finance and Second Minister for Education; Dr Koh Poh Koon, Senior Minister of State, Ministry of Trade and Industry; Mr Silvestre Bello III, Secretary of Department of Labor and Employment; Ramon Lopez, Secretary of Department of Trade and Industry; Benito Bengzon Jr., Undersecretary of Department of Tourism; Mayor Carmelita Aguilar Abalos of Mandaluyong City and senior officials from Singapore and the Philippines. Senior management from the Keppel Group, led by Dr Lee Boon Yang, chairman of Keppel Corp.; Loh Chin Hua, CEO of Keppel Corp. and Tan Swee Yiow, CEO of Keppel Land, as well as Teresita Sy-Coson, chairman of BDO; Hans Sy, chairman of the executive committee of SM Prime Holdings and Nestor Tan, president and CEO of BDO, were also present.

Meralco rates down for 5th consecutive month

The Manila Electric Co. (Meralco) announced a Php 0.53 per kilowatt hour (kWh) reduction in power rates this September. The downward adjustment equates to Php 105 in total savings for a typical household consuming 200 kWh and represents a total net decrease of almost P1.52 per kWh since April 2019. Meralco Public Information Office Head Joe Zaldarriaga (in photo) explained that the overall rate reduction is primarily due to lower charges from the Wholesale Electricity Spot Market (WESM), brought about by improved supply conditions in the Luzon grid.

For more information, customers may visit Meralco’s website at www.meralco.com.ph or its social media accounts on Twitter (@meralco) and Facebook (www.facebook.com/meralco).