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Hanjin Heavy Industries And Construction Philippines
Hanjin Heavy Industries and Construction Philippines, known as HHIC Phil, was established in February 2006 by Hanjin Heavy Industries and Construction of South Korea. In the same month, the first ship building contract was signed for 4 container ships. In May 2006, the construction of a shipyard began on Redondo Peninsula - on the northern edge of Subic Bay. The first vessel "Argolikos" was delivered in July 2008 for the Greek ship owner Dioryx. As of April 2011, the shipyard had delivered 20 ships. In 2013, the shipyard made its first oil tanker and in 2016, it delivered its first gas carrier. Additionally, the shipyard has also built parts of CALM buoys used for the Malampaya offshore project. The shipyard also has two large drydocks. In January 2019, the company filed for the biggest bankruptcy in the Philippines with unpaid loan obligations amounting to $412 million. Background As a part of its expansion process overseas, in 2004, Hanjin Heavy Industries Corporation star ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shipbuilding Industry
Shipbuilding is the construction of ships and other floating vessels. It normally takes place in a specialized facility known as a shipyard. Shipbuilders, also called shipwrights, follow a specialized occupation that traces its roots to before recorded history. Shipbuilding and ship repairs, both commercial and military, are referred to as "naval engineering". The construction of boats is a similar activity called boat building. The dismantling of ships is called ship breaking. History Pre-history The earliest known depictions (including paintings and models) of shallow-water sailing boats is from the 6th to 5th millennium BC of the Ubaid period of Mesopotamia. They were made from bundled reeds coated in bitumen and had bipod masts. They sailed in shallow coastal waters of the Persian Gulf. 4th millennium BC Ancient Egypt Evidence from Ancient Egypt shows that the early Egyptians knew how to assemble planks of wood into a ship hull as early as 3100 BC. Egyptian p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jeepneys
Jeepneys (), sometimes called jeeps (), are minibus-like public utility vehicles, serving as the most popular means of public transportation in the Philippines. They are known for their crowded seating and kitsch decorations, which have become a widespread symbol of Philippine culture and art. A Sarao jeepney was exhibited at the Philippine pavilion at the 1964 New York World's Fair as a national image for the Filipinos. Jeepneys originate from the American colonial period share taxis known as auto calesas, commonly shortened to "AC". These evolved to modified imported cars with attached carriages in the 1930s which served as cheap passenger utility vehicles in Manila. These vehicles were mostly destroyed in World War II. The need for replacement transport vehicles led to the use of U.S. military jeeps left over from the war, which became the template for the modern jeepney. The word "jeepney" is a portmanteau of post-World War II "jeep" and pre-war " jitney", both words common ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of The Philippine Islands
Bank of the Philippine Islands ( fil, Bangko ng Kapuluang Pilipinas, es, Banco de las Islas Filipinas, commonly known as BPI; ) is a universal bank in the Philippines. It is the first bank in both the Philippines and Southeast Asia. It is the fourth largest bank in terms of assets, the second largest bank in terms of market capitalization, and one of the most profitable banks in the Philippines. The bank has a network of over 900 branches in the Philippines, Hong Kong and Europe, and more than 3,000 ATMs and CDMs (cash deposit machines). BPI was founded during the Spanish colonial era of the Philippines as El Banco Español Filipino de Isabel II. It provided credit to the National Treasury and printed and issued the Philippine peso fuerte, a precursor to today's Philippine peso. History Colonial period BPI was established on August 1, 1851, as the "El Banco Español Filipino de Isabel II" (), named after the Queen of Spain, Isabella II, the daughter of King Ferdinand ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Metropolitan Bank And Trust Company
The Metropolitan Bank and Trust Company (), commonly known as Metrobank, is the fourth largest bank in the Philippines. It offers various financial services, from regular banking to insurance. It is the commercial and retail banking arm of GT Capital Holdings Inc. History Metropolitan Bank and Trust Company (Metrobank) was established by a group of businessmen on September 5, 1962, at the Wellington Building in Binondo, Manila. In August 1963, the bank's first branch was established in Divisoria. Four years later, Metrobank opened its first provincial branch, the Davao branch. At the onset of the 1970s, Metrobank opened its first international branch in Taipei, Taiwan's capital city. In April 1997, the Central Bank authorized Metrobank to operate a foreign currency deposit unit (FCDU). In the same year, branches and offices totaled 100 and the bank inaugurated its new head office at Metrobank Plaza in Makati. On August 21, 1981, the Central Bank authorized Metrobank to operate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Land Bank Of The Philippines
Land Bank of the Philippines (LBP; often referred to simply as LandBank), is a government-owned bank in the Philippines with a special focus on serving the needs of farmers and fishermen. While it provides the services of a universal bank, it is officially classified as a "specialized government bank" with a universal banking license. LandBank is the second largest bank in the Philippines in terms of assets and is the largest government-owned bank. It is also one of the biggest government-owned and controlled corporations and banking institutions in the Philippines along with the Development Bank of the Philippines (DBP), Overseas Filipino Bank (OFW Bank), and Al-Amanah Islamic Investment Bank of the Philippines. Unlike most Philippine banks, LandBank has an extensive rural branch network with 409 Branches and Extension Offices, 46 Lending Centers and 2,188 ATMs (as of February 2020). It services many rural sector clients in areas where banking is either limited to rural bank ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rizal Commercial Banking Corporation
The Rizal Commercial Banking Corporation (RCBC) () is one of the largest universal banks in the Philippines with total consolidated resources of Php 959 billion. It was established in 1960 as a development bank and is licensed by the Bangko Sentral ng Pilipinas (BSP) for both commercial and investment banking. RCBC is majority-owned by the Yuchengco Group of Companies (YGC), one of the oldest and largest conglomerates in Southeast Asia covering over 60 businesses which include the non-life insurance company, Malayan Insurance, a life insurance company joint venture with Sun Life Financial Philippines, SunLifeGREPA Financial, Inc.; the construction company EEI Corp.; educational institutions; and vehicle dealerships. Other significant investors of the bank include the World Bank's International Finance Corporation, Cathay Life Insurance Co., Ltd., a wholly owned subsidiary of Cathay Financial Holding, Ltd, and CVC Capital Partners. RCBC issues first US dollar sustainability bond ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Default (finance)
In finance, default is failure to meet the legal obligations (or conditions) of a loan, for example when a home buyer fails to make a mortgage payment, or when a corporation or government fails to pay a bond which has reached maturity. A national or sovereign default is the failure or refusal of a government to repay its national debt. The biggest private default in history is Lehman Brothers, with over $600 billion when it filed for bankruptcy in 2008. The biggest sovereign default is Greece, with $138 billion in March 2012. Distinction from insolvency, illiquidity and bankruptcy The term "default" should be distinguished from the terms "insolvency", illiquidity and " bankruptcy": * Default: Debtors have been passed behind the payment deadline on a debt whose payment was due. * Illiquidity: Debtors have insufficient cash (or other "liquefiable" assets) to pay debts. * Insolvency: A legal term meaning debtors are unable to pay their debts. * Bankruptcy: A legal finding tha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Armed Forces Of The Philippines
The Armed Forces of the Philippines (AFP) ( fil, Sandatahang Lakas ng Pilipinas) are the military forces of the Philippines. It consists of three main service branches; the Army, the Air Force, and the Navy (including the Marine Corps). The President of the Philippines is the Commander-in-Chief of the AFP and forms military policy with the Department of National Defense, an executive department acting as the principal organ by which military policy is carried out, while the Chief of Staff of the Armed Forces of the Philippines serves as the overall commander and the highest-ranking officer in the AFP. Founded under the National Defense Act of 1935, while tracing its roots to the Philippine Revolutionary Army, the AFP has played an integral part in the country's history. The AFP has also been involved in various conflicts, such as combatting rebellion against the Communist Party of the Philippines (CPP) and it's attached organizations, the New People's Army (NPA) and the Nati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subic Bay Freeport Zone
The Subic Special Economic and Freeport Zone, often shorterned as Subic Bay or Subic, is a special economic zone and freeport area covering portions of the city of Olongapo and the town of Subic in Zambales, and the towns of Morong and Hermosa in Bataan. The relatively developed and fenced area is called the Subic Bay Freeport Zone (SBFZ). The economic zone was the location of U.S. Naval Base Subic Bay, until the latter's decommissioning in 1992. The SBFZ is operated and managed by the Subic Bay Metropolitan Authority (SBMA), a sub-agency under the Bases Conversion and Development Authority (BCDA). The harbor faces the Zambales Mountains to the west and the Subic Bay opens to the South China Sea. History Subic Bay is surrounded by the town of Subic and the city of Olongapo, both in the province of Zambales, and Morong in the province of Bataan. Development of Olongapo was largely tied to the presence of the United States Navy base, once the largest U.S. military naval b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ferry
A ferry is a ship, watercraft or amphibious vehicle used to carry passengers, and sometimes vehicles and cargo, across a body of water. A passenger ferry with many stops, such as in Venice, Italy, is sometimes called a water bus or water taxi. Ferries form a part of the public transport systems of many waterside cities and islands, allowing direct transit between points at a capital cost much lower than bridges or tunnels. Ship connections of much larger distances (such as over long distances in water bodies like the Mediterranean Sea) may also be called ferry services, and many carry vehicles. History In ancient times The profession of the ferryman is embodied in Greek mythology in Charon, the boatman who transported souls across the River Styx to the Underworld. Speculation that a pair of oxen propelled a ship having a water wheel can be found in 4th century Roman literature "''Anonymus De Rebus Bellicis''". Though impractical, there is no reason why it could not work ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
San Marcelino
San Marcelino, officially the Municipality of San Marcelino ( ilo, Ili ti San Marcelino; tgl, Bayan ng San Marcelino), is a 1st class municipality in the province of Zambales, Philippines. According to the 2020 census, it has a population of 37,719 people. The municipality is home to Mapanuepe Lake that formed after the 1991 eruption of Mount Pinatubo. San Marcelino is from Iba, from Olongapo, and from Manila. Etymology The town got its name after the first Capitan Municipal whose name was Marcelino de Oraá Lecumberri. The people of this municipality during that time were fond of saints, so they added "San" to the name Marcelino, thus making it San Marcelino. The first election was held on January 14, 1906, and Matias Apostol was the first elected president. San Marcelino was Christianized after the arrival of Father Guillermo and after his departure, the people rightfully chose San Guillermo as their town's patron saint. Geography Barangays San Marcelino is politically ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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