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Tag: Philippines

  • Nitori to launch in the Philippines

    Nitori to launch in the Philippines

    Japanese furniture retailer Nitori will launch its first presence in the Philippines with a store planned to open next month, as part of its plan to push growth in Asia countries.

    The 1100sqm facility will be at the Mitsukoshi BGC shopping area in Manila. The company plans to operate 50 outlets in the Philippines by 2032.

    Nitori unveiled its plan to expand in Asia last year after opening stores in Malaysia and Singapore in 2022. The plan included the Philippines, Thailand, Vietnam, Indonesia and South Korea.

    Headquartered in Japan’s Tokyo, Nitori operates across the globe with stores mainly in Japan and China.

    Based on the goal statement “to enrich the homes of people all over the world”, Nitori’s vision is to open 3000 stores and reach sales of 3 trillion yen (US$20 million) by 2032.

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  • SM Prime to add 440,000sqm of retail space with four new malls

    SM Prime Holdings Inc (SMPH), one of the largest property developers in the Philippines, is set to open four shopping malls this year, adding 440,000sqm of retail space.

    The company plans to open SM City Caloocan, with 94,000sqm of gross floor area, in the first half of this year. In the second half, it intends to open SM City J Mall in Mandaue City, Cebu, SM City San Fernando La Union, and SM City Laoag, each spanning 111,000 to 123,000sqm.

    Aside from the new shopping malls, the property developer said it will refurbish and extend existing malls.

    “It’s an ongoing thing with SM Prime’s malls,” said Timothy Daniels, consultant for investor relations and sustainability at SM Investments Corp, the parent company of SMPH.

    “They always do it. They come back every few years, and they renovate and expand.”

    In 2023, SMPH reported a 33 per cent increase in net income to AU$1.09 billion from $826.16 million in 2022, as consolidated revenues jumped 21 per cent.

    Mall business accounted for 56 per cent of total sales, followed by residential business with 34 per cent, and other business segments, which include hotels, offices, and convention centres, with 10 per cent.

    Mall revenues totalled $1.97 billion last year, up 30 per cent from $1.5 billion in 2022. Operating income rose 28 percent to $1.03 from $801 million.

    In line with its expansion plan, SMPH has earmarked $3.3 billion for 2024 capital expenditures as it continues to explore acquisition opportunities and investments.

    Frederic DyBuncio, president and CEO of SM Investments, attributed the company’s success to Filipino consumers’ healthy spending patterns, particularly in fashion, dining, and entertainment.

    “SM’s performance as a group last year reflected our ability to stay close to our customers and address their needs regardless of uncertain economic conditions,” he added.

    SMPH currently operates 85 malls in the Philippines with 9.2 million sqm of gross floor area and eight malls in China with 1.6 million sqm of gross floor area.

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  • Philippines’ Clark airport makes pitch as aviation hub

    Philippines’ Clark airport makes pitch as aviation hub

    Last week, Philippine delegates pitched Clark International Airport’s viability as an attractive regional hub for global aerospace and aviation companies

    Airport developer Berthaphil is calling on maintenance, repair and overhaul (MRO) companies to consider setting up at Clark, where SIA Engineering has already established its own airframe maintenance operations. 

    Located 80 kilometres north of the capital Manila, the international airport can be accessed via the expressway and is situated within the free trade zone. This means interested parties can get favourable tax concessions, including up to a 7-year tax holiday and then a 5 percent corporate income tax rate.

    Berthaphil, which also built the first bonded warehouse and logistics centre at Clark, is offering a 10-hectare airfield site, with access to the primary runway, which can accommodate large widebody aircraft. The developer said the vacant property is available ‘as is’ or for a ‘a build to suit’ project.

    Apart from MRO companies, the groups are also targeting cargo airlines, logistics companies, fixed-based operators, business aviation companies, original equipment makers, regional and international airlines, and training organisations.

    Companies that have established operations at Clark include Singapore-based SIA Engineering and Hong Kong-based MetroJet. With a new terminal building, the airport has capacity for 80 million passengers, It is also an air cargo gateway for UPS, DHL and FedEx.

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  • Vietnam cooperate on rice exports with Thailand and Philippines

    Vietnam cooperate on rice exports with Thailand and Philippines

    Vietnam has agreed with Thailand as well as the Philippines to strengthen rice export cooperation to ensure regional and global food security.

    The consensus was reached when Vietnamese Prime Minister Pham Minh Chinh met with Thai counterpart Srettha Thavisin and Filipino President Ferdinand Romualdez Marcos on the sidelines of the ASEAN-Japan Commemorative Summit on Sunday in Tokyo.

    The Vietnamese and Thai prime ministers agreed to lift the two-way trade between the two countries to US$25 billion soon, through creating more favorable conditions for importing and exporting goods, including rice.

    Thailand is currently Vietnam’s largest trading partner in ASEAN, with import-export turnovers reaching $21.5 billion last year. Meanwhile, it is the 9th largest foreign investor in Vietnam.

    Vietnam and Thailand will also implement the “Three Connections” Initiative which focuses on new areas such as digital transformation, green transformation, and the circular economy.

    The Vietnamese prime minister and the Filipino President agreed to step up rice export cooperation to ensure regional and global food security when both countries export rice to many nations, and the Philippines imports Vietnamese rice.

    Among Vietnamese rice importers, the Philippines currently imports the most. In the first nine months of this year, the Philippines imported 2.4 million tons of rice worth $1.5 billion from Vietnam.

    Data from the Ministry of Agriculture and Rural Development shows in the first 11 months, Vietnam earned $4.4 billion from exporting 7.75 million tons of rice to many countries around the world.

    The average price of Vietnamese rice was $568 per ton, surging 17% over the same period last year, sometimes reaching nearly $650 per ton.

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  • Aussie wines meet Filipino spirits in new venture 7000 Islands

    Aussie wines meet Filipino spirits in new venture 7000 Islands

    Filipino-Australian entrepreneur Siggy Bacani seeks to bring the best of both worlds together by launching 7000 Islands, a cross-cultural business venture that imports Filipino liqueurs and spirits to Australia while exporting small-batch Aussie wines to the Philippines.

    Making its debut this month, the first shipment of hand-crafted Ube Cream liqueurs arrived in the company’s warehouse in Sydney directly from regional provinces in the Philippines.

    The liqueurs and a range of Filipino spirits will progressively become available in selected bars, restaurants and specialist outlets across Sydney, Brisbane, Melbourne and Perth.

    On the other hand, 7000 Islands will also distribute select white and red wines from Victoria’s Yarra Valley and varietals in SA and NSW.

    Bacani was born in the Philippines and moved to Australia with his family in the late 1980s; he considers himself “at home” in both. Previously, he worked as a marketing manager for Bacardi Brown-Forman Brands in the UK and for Moët Hennessy in Australia.

    “These are exciting times,” he remarked. “Our vision is to harvest and export superb local wines from around Australia that perfectly harmonise with the tropical gastronomy of the Philippines while providing Australian drinkers with the chance to explore some of the unique taste profiles of popular Filipino liqueurs and spirits.”

    Initially, the 7000 Islands brand will have approximately 20 products available ranging from wines selected from the 65 wine-growing regions of Australia to liqueurs and spirits produced by distillers from the 82 provinces of the Philippines.

    “All our Philippine-based drinks are sourced from natural Filipino ingredients such as Ube and sugar cane,” Bacani continued.

    “For example, Proclamation Gin is made from handpicked Sampaguita flowers responsibly sourced from female farmers in Pampanga.

    “Meanwhile, the vivid purple yam known as Ube is already popular in Australia and can now be found in many products, including Filipino pastries, cakes and ice creams.”

    The imported Filipino craft spirits will be available in premium restaurants and bars, including the three-hat restaurant Oncore by Clare Symth in Crown Sydney;  Ni Hao Bar & Dining in Sydney’s Civic Hotel, modern Vietnamese restaurant and bar Saigon Hustle in Sydney’s Smithfield, multi-award winning Serai restaurant in Melbourne and Hygge Bar in Perth.

    “We are passionate about bringing the best of these two worlds together with a selection of small-batch wines and craft spirits that reflect the unmistakable flavours and traditions of Australia and the Philippines,” Bacani concluded.

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  • AirAsia Philippines gears up for holiday season

    AirAsia Philippines gears up for holiday season

    AirAsia Philippines is gearing up for the holiday season and expects a surge in air passenger traffic after the foreign traveler vaccine certificate requirement was lifted.

    The Department of Health Circular 2023-06 applies to all airports and seaports in the country and states that all arriving international travelers will be accepted regardless of their vaccination status. The circular took effect on Aug. 12, 2023, and follows the Transportation Department’s earlier announcement of the scrapping of face masks for public transportation.

    AirAsia spokesperson Steve Dailisan said the latest development is timely with the upcoming “Ber” months (referring to September, October, November and December), which are usually the busiest time for airlines and peak season for travel in the country.

    He said the lifting of the vaccine certificate travel requirement is a significant step towards making travel more seamless and will encourage travelers, regardless of their vaccination status, to experience the Philippines.

    The Department of Tourism aims to achieve 4.8 million international tourist arrivals this year, and AirAsia is committed to helping achieve this target by providing exceptional services and value deals for flights and other travel-related services through its Airasia Superapp.

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  • Cebu Pacific upgrades aircraft fleet this year

    Cebu Pacific upgrades aircraft fleet this year

    Philippine carrier Cebu Pacific has increased its aircraft deliveries for 2023 to a record high of 21 to further improve its operational resiliency amidst growing demand for air travel.  

    The airline originally had plans to add 15 aircraft to its fleet, and now expects six more to be added to its fleet. It welcomed its ninth aircraft this year on 27 July, a brand-new Airbus A321neo, which was delivered from the Airbus centre in Hamburg, Germany using blended sustainable aviation fuel (SAF) on its flight. 

    Cebu Pacific is expecting 21 individual aircraft delivered this year, of which 17 are NEOs and four are CEOs (current engine option) on short-term lease. It aims to shift to an all-NEO fleet by 2028. 

    Earlier in June, Cebu Pacific received a brand new A320neo aircraft from Airbus’ final assembly line in Tianjin, China, powered by SAF with 41 percent blend, marking a major milestone for its sustainable aviation initiatives.   

    “This aircraft delivery allows us to increase our operational resilience while continuing to provide safe, reliable, and affordable air travel to our passengers. Our ongoing re-fleeting with new-generation, fuel-efficient aircraft and our continued use of sustainable aviation fuel will also help our decarbonization efforts in making the aviation industry more sustainable,” said Alex Reyes, chief strategy officer.  

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  • % Arabica returns to the Philippines

    % Arabica returns to the Philippines

    Arabica PH returns! The Japanese coffee shop has announced that it will be back in the Philippines this year with upcoming new branches in Bonifacio Global City (BGC), Taguig City.

    In a Thursday, January 5 Instagram post, Arabica Journal – the global account of the brand – posted rendered layout images of the two new Philippine stores as a “sneak preview,” showing minimalist, modern interiors and the brand’s iconic percentage symbol logo.

    “Manila, we will restart our project this year with these stores. We cannot wait to serve our coffee from the world to you once again,” they said.

    Arabica PH reposted the images on Friday, January 6, with the caption: “MABUHAY PILIPINAS! We are coming back bigger and better!” The branches’ opening dates and exact locations have yet to be confirmed.

    The Philippine return of the independent coffee brand from Kyoto has been met with excitement from the brand’s former patrons, especially after three of Arabica PH’s branches suddenly closed with no warning in late January 2021. Even the brand’s Instagram page was suddenly no longer available, much to customers’ confusion and concern.

    A day later, it was announced that Arabica’s franchise period and contract with its Philippine partner had already ended, and a new partner would soon be in the picture. Before this, the Arabica Headquarters had already been experiencing “communication issues” with the Philippine franchise partners. On February 2, Arabica PH was back online once again, with a new Instagram account to boot.

    Arabica PH said then that expansion plans were already being discussed with new franchise partners, and the plans were not limited to just Metro Manila but would also include other Philippine regions.

    Arabica PH opened its first branch in Bonifacio Global City in Taguig City in 2018, followed by a second BGC branch and another at The Podium in Mandaluyong City. The brand currently has 140 stores worldwide, and advocates a “simple love for coffee and design.”

    Arabica PH’s former partners since 2017, mother-daughter duo Allue and Dr. San San Hortaleza, built a new “proudly Filipino” coffee brand called Angkan Coffee, which has branches in BGC, The Podium, and a soon-to-open one in Capitol Commons.

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  • Vietnam leads rice exports to Philippines

    Vietnam leads rice exports to Philippines

    Vietnam continued to be the biggest rice provider to the Philippines in the first five months of this year with a turnover of $772.4 million, surging 31.1% year-on-year.

    During January-May, the Philippines imported 1.5 million tons of rice from Vietnam, accounting for nearly 90% of its total imported rice, according to the Asia-Africa Market Department under the Ministry of Industry and Trade, citing data from the Philippine Bureau of Statistics.

    This was also the record level of Vietnam’s rice exports to the Philippines so far.

    million dollarsRice export turnover to the PhilippinesJanuary-May period between 2019 and 2023turnover

    In the first five months, Vietnam exported 3.6 million tons of rice, with the Philippines accounting for 42.3% of the share.

    In the last six months of the year, rice exports to the Philippines are forecast to continue to increase due to the impact of climate change and the El Nino phenomenon that could severely affect domestic food production in the country of 113 million people.

    To take advantage of the opportunity to export rice to this market, businesses should closely follow market developments and policies on rice trade, the Asia-Africa Market Department said.

    Market research firm Fitch Solutions forecast that the global rice market will face the most severe shortage for 20 years in 2023. A shortfall of about 8.7 million tons is expected in the 2022-2023 crop year, the highest level since 2003-2004.

    Vietnamese agricultural experts said that rice prices will stay good in the short term due to global economic, and political uncertainties pushing up demand for food reserves.

    In addition to the Philippines, Indonesia and many countries in Asia are also increasing purchases of Vietnamese rice due to a decrease in supply.

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  • Low cost carrier Cebu Pacific blames Pratt & Whitney for flight disruptions

    Low cost carrier Cebu Pacific blames Pratt & Whitney for flight disruptions

    Philippine low-cost carrier Cebu Pacific has attributed its series of flight cancellations to engine manufacturer Pratt and Whitney, citing the delay of jet engine deliveries as the reason for operational disruptions.

    This was the essence of the airline’s explanation before a Senate hearing held on June 21, 2023. The hearing was prompted by mounting customer complaints about the airline’s widespread cancellation of domestic and international flights.

    “The global aviation industry has been impacted by Pratt & Whitney engine issues,” Cebu Pacific chief commercial officer Alexander Lao told the senate.

    Lao said that the airline had anticipated the global shortage of jet engines, so it had already placed its order with Pratt and Whitney back in 2022.

    Lao claimed that in March 2023, the American engine manufacturer advised them that “there were no more engines”, as a result of which the airline made adjustments to its flight schedules.

    In a statement published by various local media, the airline said: “While Cebu Pacific provisioned double the level of recommended spare engines as early as last year, we were advised in March 2023 that we would no longer receive the spare engine support that Pratt and Whitney had previously indicated. Immediately upon receiving such advice, we sought to adjust our flight schedule accordingly to minimize the impact. A number of flights, which were scheduled and sold months in advance, inevitably had to be disrupted.”

    One of the senators presiding over the hearing went on to question why the airline continued to aggressively market airfare promos when it knew about the jet engine shortage and limitations.

    Cebu Pacific is known to entice consumers with cheap ticket promotions such as PHP 1.00 fares ( $0.018).

    Over the past few months, frustrated passengers have uploaded video clips showing disgruntled customers dealing with Cebu Pacific’s flight cancellations.

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  • Philippine Airlines inks deal for nine A350-1000s

    Philippine Airlines inks deal for nine A350-1000s

    PAL and Airbus officials sign the Purchase Agreement for 9 Airbus A350-1000s on the sidelines of the Paris Air Show: PAL President Capt. Stanley Ng (center), PAL Holdings President Lucio Tan III (leftmost), Airbus Chief Commercial Officer Christian Scherer (3rd from right) and Airbus Asia Pacific Pres. Anand Stanley (rightmost)

    Philippine Airlines (PAL) and Airbus have finalized a purchase agreement for the firm order of nine A350-1000 aircraft, at the 2023 Paris Air Show held at La Brouget, France this week.

    The A350-1000 will fly on non-stop services from Manila to North America, including to the East Coast of the US and Canada. The new aircraft, able to accommodate 380 passengers in a three-class layout, will join two A350-900s already in service at the airline. Expected time frame for the first delivery was not mentioned.

    Captain Stanley K. Ng, president and chief operating officer of Philippine Airlines, said the order will see PAL operating one of the youngest and most modern widebody fleets in Asia.

    “We selected the A350-1000 to give PAL the power to match capacity closely to predicted demand on both the very longest routes to the North American East Coast but also on our prime trunk routes to the West Coast and potentially to Europe as well. At the same time the aircraft will use significantly less fuel than older aircraft of a similar size, which also brings an important reduction in carbon emissions.”

    Airbus claims the A350 offers the longest range capability of any commercial airliner in production today and is capable of flying 9,700 nautical miles or 18,000 kilometers non-stop. For cargo, it has a payload of 68 tonnes and a capacity of 44 LD3 containers. So far, only Qatar and Virgin own an A350-1000.

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  • Spanish footwear label Toni Pons opens first store in the Philippines

    Spanish footwear label Toni Pons opens first store in the Philippines

    When it comes to espadrilles, Toni Pons, a Spanish footwear company, is known as one of the pioneers in this design concept. Finally, the brand has officially opened the doors to its first official store in the Philippines at SM Megamall and Robinsons Place Manila. 

    Down the memory lane

    In 1946 Spain, Toni Pons founder, Antoni Pons Parramon, created the first traditionally-made espadrilles using jute or rubber in Osor, a small village near Girona. More than 75 years later, Toni Pons is now selling in different parts of the globe. 

    Influenced by the land where it was born, the Toni Pons brand maintains its Mediterranean character. The relaxed and carefree vibe of the region has accompanied the brand all throughout its history. The brand’s aesthetic of easy elegance and freshness is very befitting for a tropical country such as the Philippines, especially during the summer season. 

    On the Philippine market

    To make sure that there is something for everyone, the brand brings a wide array of collections in the country—from kids’ and men’s to bridal footwear. On top of that, the brand also introduced some of its other pieces such as bags and belts.  

    During the brand’s official launch last May 16, 2023 at SM Megamall, Fashion Hall, Jordin Pons, Toni Pons’ founder and president, told Manila Bulletin Lifestyle that the brand is looking forward to creating Philippine exclusive designs and incorporating local sustainable materials in the future designs. 

    “We know that the Philippine market is not new with handmade shoes, but we are not here to compete but to bring a new concept which is the espadrilles,” he said. “As a brand, we like to say that we arrive to a lot of people because we also do men’s, women’s, kid’s, and shoes for special events.”

    The event is an ode to summer as it celebrates its launch with a dance-infused fashion show. The show featured the Philippine Allstars as they strutted down the runway in their Toni Pons shoes, capping off the event with a dance number that is reminiscent of the movie musical, “Mamma Mia.” The brand is planning to open a total of 15 stores in the country by the end of the year. Last May 20, 2023, they opened a store at  The Hue Hotel Boracay.

  • AirAsia reopens international routes from Cebu and Manila

    AirAsia reopens international routes from Cebu and Manila

    AirAsia Philippines is strengthening its international presence in two of its major hubs – Manila and Cebu, with the return of the Manila-Shanghai flight and two new routes out of the Queen City of the South to Shenzhen and Narita.

    ‘The reopening of international routes is part of AirAsia Philippines’ recovery plan. We believe that the Filipinos’ hunger for travel is now strongly backed by opening more international destinations as shown in our forward bookings until the rest of Q2. As the World’s Best Low-Cost Airline that pioneered affordable air travel, we will continue to give our guests the best value for their money,’ said AirAsia Philippines Communications and Public Affairs Country Head Steve Dailisan, announcing that two new flights out of the Mactan-Cebu International Airport (MCIA) will be opened in June and July 2023.

    The Cebu-Shenzhen, China direct flight will be launched on June 2, 2023, while the Cebu-Narita, Japan route will be opened on July 1, 2023.

    On the other hand, the Manila-Shanghai flight which is set to open on 1 July is the last piece in AirAsia Philippines’ China network following the reactivation of the Manila-Shenzhen flight last month.

    The re-opening of more international direct flights, Dailisan said is seen to revitalize further the travel experience of the Cebuanos and other travelers from Central Visayas as they no longer have to transit to Manila to reach these exciting destinations.

    To invite more travelers from Manila and those from Central Visayas – Cebu, Bohol, Siquijor, and Negros Oriental to travel via MCIA, the World’s Best Low-Cost Airline is offering a PHP 1 one-way base fare to Tokyo, Shenzhen, and Seoul, Kaoshiung, Kuala Lumpur, and other international destinations for flights from 3 April to 31 October that are booked until 30 April 2023.

    AirAsia Philippines also reminds its guests to allot four hours for international travel to facilitate check-in procedures and other travel requirements. Those traveling light who are carrying hand-carry luggage are likewise advised to check in via the AirAsia Super App or through the self-check-in kiosks at the airport.

    Guests are also advised to accomplish the eTRAVEL form 72 hours before departure and arrival via etravel.gov.ph.

    Likewise, guests are encouraged to take advantage of the online payment for travel tax via tieza.gov.ph.

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  • Jollibee Foods Corporation gears up to open 600 stores this year

    Jollibee Foods Corporation gears up to open 600 stores this year

    Home-grown fast food giant Jollibee Foods Corp. (JFC) is planning to expand its global presence by opening up to 600 new stores this year.

    In a Thursday disclosure to the Philippine Stock Exchange, JFC said it plans to open 550 to 600 owned and franchised stores in 2023.

    With this, the company expects its capital expenditures to range from P17 billion to P19 billion this year.

    This year, the quick-service restaurant chain’s expansion plan could be the biggest in its history, exceeding the record 542 stores openings in 2022.

    At the end of 2022, JFC operated 6,480 stores worldwide —3,285 in the Philippines and 3,195 internationally.

    The company booked a net income of P7.338 billion in 2022, up 33.4% from P5.502 billion in 2021 driven by P211.9 billion in revenues, which grew by 38% year-on-year.

    “Looking ahead, while we expect macroeconomic challenges to persist in 2023, we are confident that the JFC Group is resilient and well-positioned to drive near-term growth. We have clear priorities on profitability while we continue to invest strategically to deliver long-term growth and value for our shareholders,” said JFC CEO Ernesto Tanmantiong.

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  • Philippines’ baby food market to shrink by 4.5% annually until 2028

    Philippines’ baby food market to shrink by 4.5% annually until 2028

    The baby food market in the Philippines is expected to decline by 4.5% on average annually to reach $826.7m by 2028 as the government pushes for public access to contraceptives and family planning that resulted in childbirth rates.

    In a report, GlobalData said the rising inflation will also contribute to constraining spending on baby food products.

    “Demographic changes taking place with respect to the baby population and live birth rates, and the government’s measures to restrict the number of births coupled with an increase in the number of working women will contribute to a decline in the Philippines’ baby food market,” said Shraddha Shelke, consumer analyst at GlobalData.

    Within the sector, baby milk was the largest category in terms of value and volume in 2022, with a GlobalData survey showing 47% of 369 respondents saying they spent a very or quite high among on baby milk in the fourth quarter of the year. Around 43% also said they spent a high amount on baby food.

    Per capita expenditure on baby food in the country increased to $267.1 in 2022 from $204.1 in 2017 due to a high inclination for high-quality products, exceeding the regional level of $177.3 and $167.2 globally.

    But as the economy rebounds, following the high inflationary pressures, consumer spending is seen to recover in value sales and reach $271.2 by 2027.

    “The Philippine baby food market’s growth is tied to the economic fortunes of the country. The rising disposable income of Filipino families with babies will stimulate sales of premium and organic baby food products,” the analyst said.

    “To build a stable consumer base in the country amid changing demographic conditions, manufacturers should focus on offering affordable premium baby food products with value-added benefits,” Shraddha added.