HongKong and Shanghai Banking Corp. will look at funding major infrastructure projects in the Philippines, as the private sector now takes the lead in building tollways and power plants.
“We would be extremely interested in road projects,” HSBC Philippines outgoing chief executive Mark Watkinson told reporters in a news briefing at the Sofitel Philippine Plaza Hotel in Manila Wednesday.
Watkinson, who is moving to Canada where he will serve as the bank’s executive vice president for commercial banking, will be replaced by Tony Cripps, who is currently the head of global banking and markets in HSBC Australia. Cripps will begin his Philippine stint in August.
Watkinson said HSBC would like to take advantage of growth opportunities in the Philippines, including infrastructure where the private sector is now interested.
Companies such as San Miguel Corp. and Metro Pacific have been competing against each other to bid for the right to construct or develop tollways, water projects and airports.
HSBC helped San Miguel raise P38.8 billion from the debt market last year, Watkinson said.
He said the bank had also helped finance the construction of several energy-related projects and was now in talks with several companies for infrastructure projects. He did not identify the projects.
The bank is optimistic about the outlook for the Philippines, following the successful holding of the May election. “The economy is quite positive. There is a good story for the Philippines for the next couple of years,” Watkinson said.
Cripps said the proximity of the Philippines to China positioned it well to take advantage of the opportunities in Asia-Pacific, which is projected to become the engine of global economic growth over the next 10 years.
“The Philippines is a part of that wonderful growth story,” Cripps said. –Roderick T. dela Cruz, Manila Standard Today
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
September –
5 Sept – Intl Day of Charity
7 Sept – Intl Day of Clean Air for Blue Skies
8 Sept – International Literacy Day
12 Sept – United Nations Day for South-South Cooperation
15 Sept – International Day of Democracy
16 Sept – International Day for the Preservation of the Ozone Layer
17 Sept – World Patient Safety Day
18 Sept – International Equal Pay Day
21 Sept – International Day of Peace
26 Sept – International Day for the Total Elimination of Nuclear Weapons
27 Sept – World Tourism Day
28 Sept – International Day for Universal Access to Information
29 Sept – International Day of Awareness of Food Loss and Waste
30 Sept – World Maritime Day
Monthly Observances:
Health, Safety and Sanitation Month
National Clean-up Month
Civil Service Month
National Peace Consciousness Month
Social Security Month
Rule of Law Month
National Teachers’ Month (Sept 5-Oct 4)
Weekly Observances:
Sept 17 – 23:
World Clean and Green Week
Week 2: Education Week
Week 4: Medicine Week
Last Week: National Family Week
Daily Observances:
Third Saturday:
International Coastal Clean-up Day
Third Monday: World Health Day
Last Friday: National Maritime Day
Sept 8: National Literacy Day
Sept 15: Philippine Medicine Day
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