Tag: Philippines

  • Prada Philippines opens store in resort

    Prada Philippines opens store in resort

    Prada Philippines has opened its second store in Manila, in the Solaire Resort and Casino.

    Covering 105 sqm on a single level, the outlet houses women’s and men’s leather goods plus accessories.

    Its facade is defined by a backlit white canvas curtain in a crystal box framing the entrance, plus horizontal light boxes and display windows.

    The interior features the Italian fashion brand’s signature black-and-white marble checkered flooring reinterpreted through geometric-patterned carpeting. The walls are covered with fabric in shades of green and feature classic Prada display niches.

    Steel and glass countertops are used for displays, while the shop features Osvaldo Borsani’s green velvet chairs made exclusively for Prada.

  • PTT Philippines to supply Cebu Pacific’s jet fuel for 2017

    PTT Philippines to supply Cebu Pacific’s jet fuel for 2017

    PTT Philippines has renewed its deal to supply the bulk of Cebu Pacific airline’s fuel requirements this year. The local unit of the Thailand petroleum company will supply 1, 680,000 US barrel (267 million liters) of aviation fuel to Cebu Pacific for 2017.

    “We are always grateful to have partnered with Cebu Air. Our partnership has been growing stronger that is anchored on trust, loyalty, and commitment to providing the best and quality products and services that we could afford them,” PTT Philippines president and CEO Sukanya Seriyothin said.

    Seriyothin and Cebu Pacific president and CEO Lance Gokongwei recently signed the fuel supply contract for 2017.

    PTT Philippines has been supplying Cebu Pac’s jet fuel for over 10 years, and currently accounts for most of the airline’s total jet fuel requirements, particularly flights at the Ninoy Aquino International Airport, the Diosdado Macapagal Airport in Clark, and its Visayas routes.

    The local unit recently hiked its five-year investment plan to P5 billion for the expansion of its retail network to 300 and the Amazon Café brand from 2017 to 2021.

    The Thailand-based oil firm has been in the country for 20 years and is into retail with over 100 service stations across Luzon and Cebu. Its wholesale business also serves the maritime industry.

  • Prada opens its second store in Manila, Philippines

    Prada opens its second store in Manila, Philippines

    The façade is defined by a backlit white canvas curtain enclosed in a crystal box, which frames the entrance, the wide light-boxes and the display windows.

    The space is characterized by the signature black-and-white marble chequered flooring, a legacy of Prada identity worldwide, reinterpreted in an original way through geometric- patterned carpeting. The walls, covered with fabric in the shades of green, are graced by the classic Prada display niches.

    Steel and glass countertops with brightly colored displays and Osvaldo Borsani’s green velvet chairs, reproduced exclusively for Prada, enrich the atmosphere.

  • Trump good for the Philippines

    Trump good for the Philippines

    Why is President Trump good for the Philippines?  He has withdrawn from the Trans-Pacific Partnership (TPP). The TPP, according to the Office of the United States Trade Representative, prohibits exploitative child labor and forced labor; ensures the right to collective bargaining; and prohibits employment discrimination.

    Philippine agriculture and retail and many small businesses depend on child labor and forced labor. The TPP would have subjected the Philippines (especially its exporters) to charges of violations of child and labor rights, non-payment of minimum wage and benefits for formal work.  With the US out of the TPP, the Philippines loses a major excuse for joining it and escapes the consequences that would have ensued with violations.

    Also, the TPP would have meant high-priced software and medicines produced by multinationals because of the treaty’s strong copyright protection provisions and severe sanctions for violations.   Without the TPP, Filipinos would have access to pirated and cheaper software and cheaper medicines.

    Besides, the Philippines doesn’t really have anything to sell to the world, except humans.  It has a very insignificant and weak manufacturing sector, outside of food and beer.

    President Trump is good for President Duterte and Duterte has been good for Filipinos.  He says they “have the same mouth.”

    Trump won’t mind any human rights violations in Duterte’s current violent anti-drugs campaign, unless the violations become so outrageous they trigger worldwide condemnation (such as the killing by the police while under police custody of the Korean businessman who was kidnapped for ransom by the police.  I agree that PNP Chief General Bato should resign and form an entirely new Philippine National Police. The present PNP is beyond reform).

    “We do not seek to impose our way of life on anyone,” Trump declared in his inaugural address. With his “America First,” Trump abandons America’s commitment declared by John Kennedy in his stirring inaugural speech wherein he said, “Let every nation know, whether it wishes us well or ill, that we shall pay any price, bear any burden, meet any hardship, support any friend, oppose any foe to assure the survival and the success of liberty.”

    So liberty, no. But territory? Now, that’s another matter.

    Still, Trump’s secretary of state, Rex Tillerson, told a US Senate confirmation hearing “we are the only global superpower with the means and the moral compass capable of shaping the world for good.  If we do not lead, we risk plunging the world deeper into confusion and danger.”  When he said that, Tillerson, however, might have been just pandering to the Democrats in the Senate to get his confirmation.

    Trump will try to  check China’s island-grabbing military and territorial expansion in the South China Sea. Tillerson has referred to China’s island-building to “Russia taking over Crimea.” “They are taking territory or control or declaring control of territories that are not rightfully China’s,” Tillerson said. At a press briefing Monday (Tuesday in Manila), White House Press Secretary Sean Spicer vowed the US would “make sure that we protect our interests” in the resource-rich trade route.  “It’s a question of if those islands are in fact in international waters and not part of China proper, then yeah, we’re going to make sure that we defend international territories from being taken over by one country,” the combative Spicer told reporters Monday.

    Some $5 trillion worth of goods pass through the South China Sea, according to our own Defense Secretary, Delfin Lorenzana.

    Trump’s belligerent anti-China stance could mean Duterte could play the China card vis-à-vis the US and his friendship with Trump vis-à-vis Beijing.  So Duterte gets the best of both worlds—increased trade, loans, assistance and investments from China—a great boost to the President’s focus on infrastructure and job generation, while enjoying the protective umbrella of the power of the US Seventh Fleet.

    Trump is an acoustics and optics-type president. He likes fire and brimstone.   That is why he has assembled for his defense and security and intelligence management who are, tough guys, and to use his own words, “the greatest of killers.”

    In the cabinet, there are three former generals, James “Mad Dog” Mattis (Defense) and John Kelly (Homeland Security and anti-terrorism), both former marines; and Michael Flynn (national security).

    Described as an intellectual in Genghis Khan clothing, a “Warrior Monk,” and another General Patton, Mattis once said “it’s fun to shoot some people”.   At the time he said (in San Diego), he was not referring to the Chinese.    He also once told Iraq military leaders, “I come in peace. I didn’t bring artillery. But I’m pleading with you, with tears in my eyes: If you f–k with me, I’ll kill you all.”   His favorite slogan: “Marines don’t know how to spell the word defeat.”  His advice to his soldiers before the second Iraq invasion: “Be polite, be professional, but have a plan to kill everybody you meet.”

    Meanwhile, a retired Marine Corps four-star general, Kelly, is the highest ranking officer who lost a son, a marine lieutenant, in Iraq (he stepped on a landmine in 2010).

    So expect fireworks, if not outright firepower, to spark in the South China Sea.  And that will be good for the Philippines.

    As for Mr. Flynn, well, The Economist calls him “a gifted intelligence officer” but recalls that “he was sacked as head of the Defense Intelligence Agency in 2014, allegedly for poor management skills.”

    In practical terms, such a description would mean:  The US has the right info on the Chinese.  They send warrior ships.  One of the warrior ships, however, fires on the wrong target (Remember: China’s ships in the islets and island it occupies in the South China are not supposed to be war ships but coast guard boats, civilians).

  • Moto boosts retail presence with 2 Moto concept stores

    Moto boosts retail presence with 2 Moto concept stores

    MOTO’S Philippine expansion remains at full throttle, with the opening of two new Moto Concept Stores in Metro Manila.

    Say #HelloMoto to two new stores located at the 4th level of Cyberzone areas in SM North EDSA Annex and SM Megamall both operated by MemoXpress.

    “The Philippines is a very important market for Moto, and we remain committed towards bringing the Moto experience to more Filipinos through our two new Moto Concept Stores. By offering greater product and service visibility, Moto is definitely on its way towards taking the Filipino digital lifestyle by storm,” said Dino Romano, Country Manager, Lenovo Mobile Business Group Philippines.

    As part of its goal to become the definitive #3 player in the global smartphone market, Lenovo is building scale and efficiency by expanding its Moto line across emerging markets, including the Philippines. Currently the fastest growing smartphone market in ASEAN, the Philippines has seen a total of 3.5 million smartphone shipments in the first quarter of this year, based on International Data Corporations (IDC)’s June 2016 report.

    Both Moto Concept Stores carry the newly-launched Moto smartphone lineup: its flagship line composed of Moto Z, Moto Z Play and the Moto Mods; its mid-range family, which consists of Moto G4 Plus, Moto G4 Play and Moto G Turbo; and the entry-level Moto E3 Power.

  • Cebu Pacific to open Cagayan de Oro-Bacolod flights

    Cebu Pacific to open Cagayan de Oro-Bacolod flights

    CEBU Pacific announced Monday that its Cagayan de Oro City-Bacolod City route will start on March 16. For this new route, the airline will have three flights per week specifically on Tuesdays, Thursdays and Saturdays. Cebu Pacific said in a press statement this is one of the two routes it is launching in the next two months.

    The other one is between Cagayan de Oro and Tagbilaran City starting March 15, with four flights weekly every Mondays, Wednesdays, Fridays and Saturdays. Both new routes will be using the new ATR 72-600 aircraft expected to arrive in early March. To introduce these routes, the airline said it is offering an introductory P799 all-in seat sale for those who will travel from March 15 to May 31. Travelers may now book their flights until January 27, or until seats last.

    The promo fare is inclusive of taxes and fees. Bags, meals, and other ancillaries may be added as preferred, it added. Alexander Lao, president and chief executive of Cebgo, said the new routes will open great opportunities for “every Juan” both business and leisure travelers, enabling them to visit the Visayas region more conveniently.

    At the same time, passengers from Tagbilaran and Bacolod will now be able to explore Mindanao without the hassle, through the gateway that is Cagayan de Oro, Lao said. “Cebu Pacific stays committed in providing the best connectivity options for our valued passengers at the lowest fare available in the market,” Lao said. After the sale period, the one-way trip from Cagayan de Oro to Bacolod would cost P1,806; and Cagayan de Oro to Tagbilaran, P1, 235. The airline remains devoted to exploring more routes to cater to more of our valued guests, and also to beef up economic, trade, and tourism in the destinations we operate in, its official added.

  • SSI partners with Muji operator to bring Japan brand to Philippines

    SSI partners with Muji operator to bring Japan brand to Philippines

    Speciality stores operator SSI Group has signed a joint venture deal with a Japanese company to bring the Muji retail brand to the Philippines. SSI Group, through its wholly owned subsidiary Stores Specialists Inc. (SSI), entered an agreement with Japan’s Ryohin Keikaku Co. Ltd. (RKJ) to form a joint venture company called Muji Philippines, which will own and operate Muji stores in the Philippines.

    “The joint venture with RKJ is expected to strengthen the Muji brand in the Philippines and enable cost efficiencies,” SSI said in a disclosure to the Philippine Stock Exchange.

    Muji is a Japanese retailer which operates some 420 stores in Japan and 390 stores internationally as of October 2016.

    SSI will have a 51-percent stake in the joint venture while RKJ will hold the balance of 49 percent. SSI will infuse P89.25 million in Muji Philippines while RKJ will invest P85.75 million.

    Muji Philippines is expected to commence operations on April 1.

    “Any profits from the joint venture company shall be distributed pro-rata to the ownership in the company of each of SSI and RKJ,” SSI said.

    “SSI shall provide the joint venture company with operational knowledge and apparel and retail sales expertise specific to the Philippines, while RKJ shall provide the brand management expertise and retail experience specific to the Muji brand,” it added.

    One of the conditions needed for the closing of the transaction is for RJK to obtain a certificate of pre-qualification as a foreign retailer from the Board of Investments, the statement said.

    Specialty retailer SSI Group also has a presence in the convenience store segment through its joint venture with Ayala Land Inc. (ALI) and Japan’s Itochu Corp. to bring the FamilyMart convenience store chain into the country.

    In March last year, SSI and its joint-venture partner ALI sold Wellworth department stores at Fairview Terraces Mall and UP Town Center Mall to Gaisano-led Metro Retail Stores Group Inc. (MRSGI) for P499 million to minimize operating losses.

  • Cebu Pacific opens 2 new Mindanao routes with seat sale

    Cebu Pacific opens 2 new Mindanao routes with seat sale

    Cebu Pacific, the country’s largest airline, said Monday it was launching two new routes from Cagayan de Oro City, as it expands in Mindanao.

    Cebu Pacific said it would fly four times weekly (Monday, Wednesday, Friday and Sunday) between Cagayan de Oro and Tagbilaran City from March 15, and thrice weekly (Tuesday, Thursday and Saturday) between Cagayan de Oro and Bacolod starting March 16.

    The airline said it was offering an introductory P799 all-in rate for travel from March 15 to May 31.

    New ATR 72-600 aircraft for the two routes, Cebu Pacific said.

  • Globe sets 2017 capex budget at $750m

    Globe sets 2017 capex budget at $750m

    The Philippines’ Globe Telecom has allocated a capex budget for 2017 of around $750 million as the operator invests to expand its data network.

    The operator will spend the majority of its capex budget for the year on data network expansion, including investing towards its target of providing ultra-fast fiber broadband to 2 million homes by 2020.

    Globe also plans to take advantage of the spectrum it acquired from the joint purchase of San Miguel Corporation’s telecoms assets last year by investing heavily in LTE.

    But the $750 million figure marks a significant planned reduction from the operator’s roughly $1 billion in capital expenditures last year.

    The report cites Globe CEO Ernest Cu as stating that the reduction marks a rebalancing from 2016, when the company needed to borrow money to fund its network spending.

    Cu told BusinessWorld Online that the operator’s priority with its capital investments will be revenue generation, which the company plans to achieve by focusing on high-value customers in order to improve ARPU.

    This will be important in light of the agreement Globe and rival PLDT signed with the government late last year to reduce their fixed and mobile voice interconnection rates.

  • JV aims to boost Muji brand in Philippines

    JV aims to boost Muji brand in Philippines

    Specialty retailer SSI Group has signed a JV agreement with Japan’s Ryohin Keikaku in a bid to boost the Muji household supplies brand in the Philippines.

    SSI Group’s board of directors has approved the JV between its wholly owned subsidiary Stores Specialists and RKJ, dubbed Muji Philippines. It is expected to launch on April 1 with the mandate to own and run Muji stores in the Philippines.

    SSI Group says the move will enable cost efficiencies.

    Stores Specialists owns and runs specialty retailing boutiques for a range of international brands covering luxury, casualwear, fast fashion, footwear, luggage and accessories as well as personal-care brands. RKJ is engaged in the planning, development, procurement, logistics and processing of goods under the brand name Muji, as well as running Muji retail stores and wholesaling Muji goods.

    The deal is pegged at P175 million (US$3.5 million), with Store Specialists holding a 51 per cent stake. Store Specialists is investing more than P89.2 million, while RKJ is injecting up to P85.7 million.

  • Pie Face expansion plan in Japan and Korea

    Pie Face expansion plan in Japan and Korea

    As it turns around and heads toward profitability again, Australian fast-food chain Pie Face has plans to expand into Japan and South Korea.

    Its receiver flags the hot-pie business will be sold soon, but it has left behind a trail of destruction: secured debt is AU$4 million (US$3 million) and unsecured debt is estimated to be nearly AU$5 million, with employees alone owed more than AU$1 million.

    Also, listed Retail Food Group has made an application to the Queensland Supreme Court to wind up Pie Face Australia over an unpaid debt. But many creditors are unlikely to receive payment out of the receivership, says Pie Face trading entities joint receiver Liam Bailey, a partner at insolvency firm O’Brien Palmer.

    “I can’t speak to what the liquidator may be able to recover and pay them as a dividend, but it’s unlikely a surplus will be generated on the sale of the business, allowing funds to flow to unsecured creditors.”

    The Pie Face company runs a commercial kitchen and wholesaling business, Pie Face Holdings, which owns the intellectual property as well as Pie Face Franchising, which oversees its franchised business in Australia.

    US market

    Bailey became involved after Pie Face went into receivership for the second time in two years late last year. Founded in 2003 by couple Wayne Homschek and Betty Fong, after spreading through Australia the company moved into the US market and planned to open stores in the Middle East, Japan, Korea and the Philippines.

    Investors including retail entrepreneur Brett Blundy, Fat Prophets founder Angus Geddes and Rothschild Australia chairman Trevor Rowe had poured more than $35 million into Pie Face since 2009 with hopes of a sharemarket listing, reports The Age.

    In 2014, Pie Face collapsed owing tens of millions of dollars, sparking store closures, job losses, lawsuits and board changes. Pie Face then struck a deal with financier TCA Global, which took over loans to major lender Macquarie bank.

    Under a deed-of-company arrangement, unsecured creditors such as food suppliers agreed to receive between 14¢ and 19¢ in the dollar over several years, and Pie Face changed its focus to wholesale and direct retail sales.

    When this turnaround bid came unstuck, TCA Global appointed O’Brien Palmer in late October. The business was then restructured for sale. A new CEO and CFO were appointed, 11 unprofitable stores were closed and three franchised stores were opened. Nearly 100 staff members lost their jobs.

    Pie Face now has 30 franchised stores, about 10 people in its head office and 60 to 70 kitchen workers – and plans to expand overseas, particularly in Japan and South Korea.

    Bailey says seven or eight companies are now conducting due diligence, with binding offers due in at the start of next month.

    “We were very much taken aback by the level of interest in the business notwithstanding the bad press it has received over the years,” he says. “There’s a lot of recognition of the growth potential, if properly managed.”

  • Philippine Airlines expands operations at Clark

    Philippine Airlines expands operations at Clark

    Philippine Airlines is ramping up its operations at Clark International Airport, north of Manila. The national carrier is aiming to ease pressure at Manila’s Ninoy Aquino International Airport by launching new services connecting Clark with Cebu, Davao and Puerto Princesa. Clark is located approximately 80km from the Philippine capital.

    Having launched flights between Clark and Boracay in late 2016, PAL will launch four weekly Clark-Cebu flights and three weekly Clark-Davao services on 30 January 2017. Then on 26 March PAL will start offering three weekly flights between Clark and Puerto Princesa, on the island of Palawan.

    “We aim to cater to the flight needs of northern Metro Manila, central and northern Luzon residents. Now, they will be able to experience the convenience of easy travel from their homes to the Clark Airport. Travellers from abroad and domestic outlying stations may fly to Clark and journey on to popular travel spots in the Luzon area,” stated PAL’s president & chief operating officer, Jaime Bautista.

    PAL will continue to serve Cebu, Davao and Puerto Princesa from Manila’s main airport.

  • Cebu Pacific-Visa tie up for exclusive international seat sale

    Cebu Pacific-Visa tie up for exclusive international seat sale

    Cebu Pacific (CEB) allies with Visa to offer all-inclusive seat sale fares to some of the most popular international destinations within its extensive flight network.

    The seat sale exclusive for Visa cardholders, started last January 16, 2017 and will be available until January 22 (or until seats last). Flights will be for travel from May 1 to September 30, 2017.

    Cardholders who wish to make the most out of this year can still catch the last few days of the sale and book flights from Manila to Hong Kong for as low as P1, 599. Seats from Cebu, Clark, Davao and Iloilo to Hong Kong and Singapore are also available at the same low fare.

    Those who want to visit Busan and Incheon from Manila can avail of flights for as low as P2, 099. Flights to Incheon from Cebu and Kalibo and flights to Singapore, Guangzhou and Xiamen from Manila are also up for grabs at the same all-in fare. Passengers can also fly from Manila to Beijing and Shanghai (P2, 599), Guam (P3, 099) or Sydney (P4, 199).

    All fares quoted are for one-way flights, and are inclusive of country-specific taxes, web admin fee and terminal fee. Baggage allowance, meals, travel insurance and other ancillaries may be added to the fare per the passenger’s preference.

    To avail of this exclusive seat sale, Visa cardholders only need to input the promotional code “VISA” through www.cebupacificair.com. Terms & conditions apply.

    CEB currently offers flights to a total of 37 domestic and 29 international destinations, operating an extensive network across Asia, Australia, the Middle East, and USA. Its 57-strong fleet is comprised of four Airbus A319, 36 Airbus A320, seven Airbus A330, eight ATR 72-500, and two ATR 72-600 aircraft. Between 2017 and 2021, CEB expects delivery of one more brand-new Airbus A330, 32 Airbus A321neo, and 14 ATR 72-600 aircraft.

  • BSP Approves New Bank Service Channels

    BSP Approves New Bank Service Channels

    The Bangko Sentral ng Pilipinas (BSP) has relaxed rules governing service channels for banks and deposit taking activities outside bank premises.

    BSP Deputy Governor Nestor Espenilla Jr. said in a chance interview the changes would allow banks to expand their reach and serve clients more efficiently.

    Under the newly approved regulations, banks are now allowed to serve clients through cash agents. Cash agents will accept and disburse cash on behalf of the banks, facilitating online self-service deposits, withdrawals and fund transfers, as well as bills payment.

    Furthermore, cash agents can also perform Know-Your-Customer procedures as well as collect and forward application documents for loan and account opening.

    They may also sell and service insurance products as authorized by the Insurance Commission.

    Cash agents are typically cash-rich third-party entities with many outlets that conduct regular business in fixed locations anywhere in the country, such as convenience stores, pharmacies and other highly accessible retail outlets.

    The BSP said the cash agents enable banks to leverage on innovative digital solutions to serve a wider client base, particularly in the low-income and rural areas where the commercial incentives to set up a full branch or even a micro-banking office are limited.

    The new regulations are seen to help serve the large base of unbanked and low-income segments.

    Data from the BSP shows more than 36 percent of all the municipalities in the country have no banking presence although most of these are served by a variety of non-bank financial institutions like pawnshops, cooperatives and lending investors.

    Likewise, the BSP also relaxed existing regulations on offsite deposit servicing. This was done by removing highly prescriptive operational requirements and conditions for banks.

    With the new rules, banks have more flexibility in designing appropriate and cost-efficient ways to render deposit pick-up and delivery services and as a result, enhance client experience.

    However, despite the relaxed rules, the BSP said banks must ensure the safety and soundness of the banking system as well as uphold consumer protection.

    It said the recently approved guidelines emphasize banks’ responsibility for ensuring the adequacy of risk management and internal control systems for the liberalized deposit servicing activities.

    As such, the BSP would evaluate the quality and sufficiency of the risk management

  • Ford posted record sales in Philippines in 2016

    Ford posted record sales in Philippines in 2016

    Ford Philippines said it posted new record sales in 2016, the fourth in a row, with sales rising 33 percent to 33,688 vehicles, driven by continued strong demand for EcoSport, Everest and Ranger.

    The company said it also had the best-ever December performance in the Philippines with sales increasing 13 percent year-on-year to 3,198 vehicles.

    “Our big three nameplates – Ranger, Everest and EcoSport – continued to lead the charge throughout the year and further solidify the Ford brand as a top choice among Filipinos,” said Ford Philippines managing director Lance Mosley.

    The Everest became Ford’s best-seller in the Philippines in 2016 with full-year sales rising 152 percent year-on-year to a record 12,453 vehicles, finishing the year with a 6-percent rise in December sales to 1,066 vehicles.

    The EcoSport compact SUV also turned in its best-ever full-year performance with retail sales rising 15 percent to 10,010 vehicles, capping the year with December sales rising 40 percent to an all-time monthly record of 1,123 vehicles.  The Ranger, on the other hand, finished 2016 as the second best-selling pickup truck in the Philippines with total retail sales of 8,158 vehicles.