1ST QUARTER , 2017
PRA leads in keeping track of gov ’ t bills concerning ...
continued from page 2
The PRA argued that “ a gift certificate , check , or card is not cash by any yardstick and the no-expiry clause as proposed in Section 2 of HB 3091 aims to treat these articles like legal tender .”
PRA President Santos cited that “ when a consumer purchases a gift certificate or similar items , he voluntarily enters into a contract where his money is converted into a proprietary product for use with a specific merchant in exchange for goods or services . Moreover , criminals often target gift certificates , checks , and cards by producing counterfeit articles , so merchants need vigorous security measures .
“ With this , the PRA proposed that instead of absolutely prohibiting merchants from implementing expiration date on these items , they should be allowed to issue these , if they so choose , with a mandatory minimum three-year lifespan . Consumers should be given the option to revalidate — that is to ascertain the integrity of these items — on or before the expiry and reissue the same value for another period of three-year validity . “
Tax reform initiatives
PRA member and PAGASA President Steven Cua represented the retail sector in a public hearing by the Congressional Committee on Ways and Means headed by Rep . Dakila Carlo “ Dax ” E . Cua of Quirino . At the said hearing , which aims to address stakeholders regarding the tax proposals of the Department of Finance , a proposal to link POS of stores direct to the BIR system , Cua cautioned the body to go slow in implementing e-Receipts and linking all POS to their system as this will entail huge costs on the part of retailers to implement and which , when passed on to consumers , ( these costs ) will jack up inflation .
He also cited the issues that will make this difficult to implement , e . g . slow and sometimes unreliable internet connection in many areas of the country which will pose a big risk when transmitting huge data all at the same time .
Local News
P7.9-B Wilcon Depot IPO OK ’ d
Home improvement and retail construction business Wilcon Depot is targeting a Philippine Stock Exchange ( PSE ) listing date of March 23 for its P7.9 billion initial public offering ( IPO ) after a Securities and Exchange Commission approval .
The company is offering up to 1.4 billion primary shares at P5.68 per share to raise P7.9 billion .
“ Wilcon will use the net proceeds of the offer for expansion of store network , repayment of debt and general corporate purposes ,” the company said . The offer shares represent 34 percent of the company ’ s outstanding common shares post-offer .
Wilcon is embarking on an aggressive expansion aimed at solidifying its presence in existing markets and widening its market outside Metro Manila , specifically
SM Aura Premier has received the prestigious LEED Gold certification after following the standards set by the US Green Building Council ( USGBC ) for implementing practical and measurable green building solutions .
The USGBC developed the LEED ( Leadership in Energy and Environmental Design ) green building rating system for buildings , homes , and communities that are designed , constructed , maintained , and operated for improved health and environmental performance .
According to LEED consultant Raymond Andrew Sih , SM Aura achieved LEED Gold by meeting and exceeding international standards in indoor air quality , thermal comfort , then energy and water efficiency . in Cavite , Zamboanga , Iloilo , Tacloban , Cabanatuan , Bicol , General Santos , Davao , Lucena , Isabela , Tagum , Tuguegarao and Surigao . Since opening its first branch in 1977 , Wilcon has expanded to a network of at least 38 stores nationwide and successfully established itself as the “ top-of- mind ” depot for local and international brands of tiles and flooring , plumbing and sanitary wares , electrical and lighting products , hardware and tools and furniture .
Philippine Star / Inside Retail Philippines , 02 / 26 / 2017
SM Aura gets award for green features
He cited the mall ’ s very own waste water treatment plant that recycles water for non-potable use , the energy efficient LED lighting system , the centralized air conditioning system cooled with recycled water , and double low emissivity insulated glass panels , to name a few . In addition , the entire operation is run optimally with regular measurement and verification .
“ SM Aura Premier was built with the environment in mind . Almost a third of the cost of construction materials were locally sourced , over 20 % of the cost of construction materials were from recycled materials , and over 95 percent of the construction waste was recycled ,” Sih said .
Sih said SM Aura Premier ’ s Sky Park , which covers more than half of the building , not only “ provides visitors with a great place to dine , relax and enjoy views from up high ; it also gives plants plenty of soil , recycled water , and room to grow while protecting the building from the heat of the sun .”
Apart from this outdoor green feature , SM Aura also maintains good indoor air quality for its occupants . The mall is also conveniently located where one can walk or bike to various businesses , offices , homes , public amenities , and transportation facilities .
Philippine Star , 02 / 13 / 2017
3