Interflour bags P998M loan to fund flour mill in Subic

Singaporean-owned Mabuhay Interflour Mill, Inc. (MIMI) has entered into a P998-million, seven-year loan deal with BDO Unibank, Inc. to partly finance the construction of its flour mill within a 5.2-hectare property in Subic Bay Gateway Park Phase II.

MIMI is the Philippine subsidiary of Interflour Group Pte Ltd. of Singapore, one of the largest flour millers in Asia.

The project, which is expected to be completed early 2017, involves the milling of wheat into food flour for direct sale to consumers, distributors and retailers in the country, as well as for the export market. The flour mill has a capacity to produce 500 metric tons of flour per day, which may be doubled to 1,000 metric tons by 2019.

With an estimated 25,000 bakeshops operating in the country, Interflour considers the Philippines an important market in the region.

At present, Interflour is operating nine flour mills – eight in Southeast Asia and one in Turkey – and has a wheat milling capacity of 6,500 tons per day. In June 2014, itsigned a 50-year lease agreement with the Subic Bay Metropolitan Authority, establishing its entry in the Philippines.

“The investment of Interflour in the Philippines is a welcome development. BDO supports initiatives by conglomerates that generate employment opportunities in fast-growing business districts like Subic,” said Edward Wenceslao, BDO senior vice president and head of international desks.

“We welcome the support of BDO and thank them for the cooperation in working with us to develop local employment and more affordable flour for the Philippine community in general,” said Greg Harvey, Interflour chief executive. (Malaya Business Insight)

PHOTO:
SBMA Chairman Roberto V. Garcia (extreme right) and Greg Harvey (4th from right), Managing Director and Chief Executive of Interflour Group, with other officials during the ceremonial ground-breaking of Interflour’s milling facility project in the Subic Bay Freeport in November, 2015. (AMD,EVS/MPD-SBMA)

http://www.malaya.com.ph/business-news/business/interflour-bags-p998m-loan-fund-flour-mill-subic

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Singapore-based Interflour Group starts US$30-M flour mill in Subic

Singapore-based Interflour Group (Interflour), one of the producers of the finest flour in the world, commenced on Tuesday the construction of its Philippine mill in Freeport as part of its expansion program to meet the flour needs in South-East Asia .

The ground-breaking ceremony was attended by Interflour managing director and chief executive Greg Harvey, Subic Bay Gateway Park president Jeff Lin, Subic Bay Metropolitan Authority (SBMA) Chairman Roberto Garcia, Interflour Group COO Jack Joseph Cwach, Mabuhay Interflour Mill Inc. (MIMI) president Angel Umali, MIMI general manager Vicente Magbanua, SBMA Deputy Administrator for Investment Ronnie Yambao, and SBMA COO Joven Reyes.

“The entry of Interflour in Subic Freeport is a big sign of the vibrancy of the Freeport today,” said SBMA Chairman Garcia, adding that Subic has increased its revenue collection by 15 percent this year.

Further, Garcia said that the flour mill facility will help realize the vision for Subic to become an international hub in Asia.

He noted that with the flour mill now in Subic, time and expenses incurred in hauling and transporting flour from Metro Manila to parts of Central and Northern Luzon would be reduced to as much as 50 percent.

In June 2014, Interflour signed a 50-year lease contract with SBMA, paving the way for the construction of the flour mill under the business name Mabuhay Interflour Mill Incorporated (MIMI), at a committed investment of US$30 million.

This will also mean additional revenue for SBMA, estimated to reach P5.5 million a year, for the use of ports for transport ships (usually Panamax vessels) coming from wheat-growing countries, primarily Australia, United States, and Canada, as well as Europe and the Black Sea countries.

Harvey explained that Interflour will engage in milling wheat into food flour for sale direct to consumers, distributors, and retailers in the country and for exports.

The Philippines is essential to the development of the flour industry and is one of the biggest flour markets in Asia.

The new mill in Subic, he said, is capable of producing 500 metric tons a day of the finest flour intended for the local market, particularly in Central and Northern Luzon.

“We hope to bring to the country affordable but high quality flour to help local bakeshop entrepreneurs,” Harvey said.

He added that the milling facility to be constructed in a 5.2-hectare lot inside the Subic Bay Gateway Park Phase II is expected to be completed in early 2017.

During construction period, more than 500 workers will be employed, while during commercial operation, the flour mill will need more 100 personnel, Harvey said.

Interflour Group is one of the biggest flour milling companies in the world with nine flour mills located in Vietnam, Indonesia, Malaysia, and Turkey with a combined wheat milling capacity of around 6,400 tons per day, which is equivalent to 1.6 million tons of flour produced each year.

It holds international certifications, manifesting its world-class technology, including Good Manufacturing Practice (GMP) and Halal Certification. It also has ISO 22000:2005/HACCP and ISO 9001:2008 for constantly providing its customers with optimum and consistent quality products and know-how. (RAV/MPD-SBMA)

PHOTOS:

[1] SBMA Chairman and Administrator Roberto V. Garcia (7th from left) and Greg Harvey, Managing Director and Chief Executive of Interflour Group, and other officials during the ground-breaking ceremony of Interflour’s milling facility in the Subic Bay Freeport. (AMD,EVS/MPD-SBMA)

[2] SBMA Chairman Roberto V. Garcia (extreme right) and Greg Harvey (4th from right), Managing Director and Chief Executive of Interflour Group, joins other officials in the ceremonial ground-breaking of Interflour’s milling facility project in the Subic Bay Freeport. (AMD,EVS/MPD-SBMA)

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Maersk makes maiden voyage to Port of Subic

Maersk Line, listed among the largest container shipping companies in the world, brought to this premier Philippine free port the first good news for 2015, as it marked its maiden direct voyage from Singapore to Subic.

Subic Bay Metropolitan Authority (SBMA) Chairman Roberto Garcia said Maersk’s MV Stadt Dresden arrived in the Port of Subic directly from Singapore at around 12:30 in the morning of January 3.

“This starts Maersk’s weekly service for a direct Singapore-Subic route,” Garcia said.

The SBMA official added that the entry of Maersk Line ushered in the new year here with good luck and good news.

Maersk Line, the largest operating unit of the Danish conglomerate A.P. Moller-Maersk Group, is considered the biggest container shipping company in the world in terms of revenue and operates more than 600 vessels with a total container capacity of 3.8 million twenty-foot equivalent units (TEUs).

MV Stadt Dresden, which started the direct Singapore-Subic route, is a registered Antigua Barbuda-flag carrier with a gross tonnage of 27,971.

According to Jerome Martinez, manager of the SBMA Seaport Department, the Stadt Dresden unloaded 12 cargo containers here. Of these, 11 were consigned to Keppel Subic while the other one was for Petron in Mandaluyong City.

Martinez further said that several international shipping lines have opened direct routes to Subic starting in November last year when China-based SITC Container Lines (Phils.), Inc. began a direct route from Xiamen, China to Subic.

SITC’s container ship MV Sicilia unloaded 22 containers at Subic’s New Container Terminal (NCT) 2 during its maiden voyage here.

This was followed by Japan-based Nippon Yusen Kaisha (NYK) Line, another one of the largest shipping companies in the world, which made its first direct route to the Port of Subic from Kaohsiung, Taipei.

NYK’s MV Jakarta Towers, meanwhile, also docked at NCT-2 in Subic and unloaded 110 containers destined to various consignees in Central and Southern Luzon, as well as Metro Manila.

SBMA officials also noted that the entry to Subic of new shipping lines with direct routes from foreign ports started after President Aquino issued Executive Order 172, which classified Subic’s NCT-2 and the Port of Batangas as extension ports to help ease congestion in the Port of Manila. (RAV/MPD-SBMA)

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NYK opens direct routes to Subic Freeport

Another international shipping line has opened a direct route between this free port and the major ports of Japan and Singapore, joining a growing number of shippers that now call on Subic following its classification as an extension port of Manila.

Subic Bay Metropolitan Authority (SBMA) Chairman Roberto V. Garcia announced on Wednesday that Nippon Yusen Kaisha (NYK) Line, one of the world's leading transportation companies, will open direct routes from Japan to Subic and from Subic to Singapore.

Garcia finalized an agreement for the new shipping route late last month with Capt. Chak Kwok Wai, chairman and managing director of the NYK Group; Ian T. Maambong, NYK sales manager for export; Dan Florentino, chief operating officer of the Transnational Diversified Group; and Tony Ramos, administrative officer of Subic Bay International Terminal Corp.

“The opening of NYK’s direct routes to Subic is intended to provide an alternative solution to the port congestion in Manila,” Garcia explained.

“NYK has stressed that it opened the routes as a contribution to help solve the current concerns in Manila and in response to the Philippine government’s request to decongest Manila ports,” Garcia added.

The NYK Group, which is based in Japan, is a comprehensive global-logistics enterprise offering ocean, land, and air transport services.

Under the agreement, NYK will be providing Subic discharge and load options for urgent cargoes, thereby helping to minimize their vessel’s overall port stay in Manila.

Garcia said that NYK will start an adhoc call at the Port of Subic using its 2,300-TEU capacity target vessel MV Jakarta Tower exclusively for NYK bookings. Jakarta Tower is scheduled to make its first Subic call on November 22.

Daniel Ventanilla, general manager of NYK Fil-Japan Shipping Corp., said in a message to Garcia that NYK’s new line to Subic is marked by many milestones.

“This will be the first service in the Philippines to make a direct call from Japan to Subic, in addition to the regular Taiwan-Subic call,” Ventanilla said.

“It will also be the first service to call from Subic to Singapore, a major transshipment port providing numerous connections to East Asia, the Middle East, South Asia, Europe, Africa, North America, Australia and New Zealand ports,” he added.

The SBMA said earlier that the Southeast Asian shipping community is starting to notice the potentials of the Port of Subic as an ideal port to move and transship both containerized and bulk cargo shipments.
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"With the entry of NYK, our port would virtually become a gateway to ASEAN, Africa, Europe, and North America," Garcia noted.

Last month, China-based SITC Container Lines Philippines, Inc. opened a direct route from Xiamen, China to Subic when its container ship MV Sicilia made its maiden voyage to Subic and unloaded 22 containers at the New Container Terminal (NCT) 2.

The cargoes included products from Guangxi, Sichuan and Shanghai, all in China, respectively for Orica Philippines in Limay, Bataan; Nestle Philippines Inc. in Cabuyao, Laguna; and Manila World Transport, Inc. in Metro Manila. (HEE/MPD-SBMA)

PHOTO:
NEW SHIPPING LINE: SBMA Chairman Roberto V. Garcia (left) meets with representatives of the NYK Group South Asia Pte Ltd. to discuss the potential of NYK Shipping Line calling on the Port of Subic. Present during the meeting are, from far left: Tony Ramos, admin officer of Subic Bay International Terminal Corp.; Ian T. Maambong, sales manager for export, NYK Group; Capt. Chak Kwok Wai, chairman and managing director, NYK Group; and Dan C. Florentino, chief operating officer, Transnational Diversified Group.

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