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Tag: Philippines

  • Gaisano bank takes in Korean partner

    Gaisano bank takes in Korean partner

    The Gaisano family has enlisted Woori Bank of South Korea as a strategic partner in thrift bank subsidiary Wealth Development Bank Corp. to boost the banking unit amid a competitive local banking landscape.

    Cebu-based Vicsal Development Corp. (Vicsal), parent firm of Wealth Development, announced the forging of an investment agreement with Woori Bank, creating a strategic alliance between the South Korean bank and one of the country’s leading thrift banks.

    The joint venture combines the global and technical resources of Woori Bank and Viscal. However, the statement did not disclose how much economic interest the South Korean partner would get in this venture.

    “It is a strategic initiative in response to the liberalization of the country’s banking sector,” WealthBank chair Edward Gaisano said.

    Gaisano said the deal was expected to increase the net worth of the thrift bank by threefold, strengthen its balance sheet and deepen its market reach and product offerings.

    WealthBank claims to be one of the country’s fastest growing independent thrift banks, expanding from just one branch in 2002 to 16 across the country today. The bank has close to P7 billion in assets.

    Under the partnership, WealthBank plans to ride on the world-class facilities and expertise of Woori Bank. It also targets to serve 1.2 million Korean tourists who visit the Philippines yearly and the 100,000-strong Korean expatriate community in the country.

    The partnership also seeks to allow WealthBank to cater to overseas Filipino workers in South Korea, as well as local and Korean small and medium enterprises.

    “This partnership with Woori Bank will unlock the huge potential of WealthBank. We are excited about the joint venture as it further underscores our commitment to growth through collaboration with world-class companies,” Gaisano said.

    Vicsal recently strengthened its strategic alliances through joint ventures with other leading global companies such as Ayala Land, Megaworld Corp. and Hong Kong Land.

    Retail unit, Metro Retail Stores Group Inc. (MRSGI), recently debuted on the Philippine Stock Exchange.

    The Cebu-based Gaisanos trace their roots to an entrepreneurial family with a long retailing heritage dating back to the 1930s. From one of the many branches of the Gaisano family sprang the lineage of Victor, who decided to go on his own and, with wife Sally, opened his first store in Colon, Cebu, in 1982. This marked the beginning of MRSGI, which didn’t use the storied surname as part of a deliberate strategy to carve its distinct identity and avoid mix-up with similar businesses operated by relatives.

    Aside from banking and retailing, Vicsal is also into real estate development through the Taft Property Venture Development Corp. and in financial management through AB Capital. Vicsal is also the majority owner of Filipino Fund Inc., a closed-end mutual fund listed on the local bourse.

    Viscal and its various businesses are now run by the second generation Gaisanos: Margaret, Jack, Edward and Frank.

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  • Sari-sari stores in Davao City to thrive vs 7-Eleven

    Sari-sari stores in Davao City to thrive vs 7-Eleven

    Philippines’ corner stores called ‘sari-sari stores’ will be affected by growing competition from convenience stores sprouting in Davao City but they will continue to survive, according to a local government official.

    Ivan C. Cortez, officer-in-charge of Davao City Investment Promotions Center (DCIPC), said, in an interview with Sun Star Davao, that the increasing number of 7-Eleven stores in the city will affect small retailers’ sales especially those of the ‘sari-sari’ stores.

    However, Cortez said that ‘sari-sari’ stores will continue to thrive as their market is different from convenience stores.

    ‘Sari-sari’ stores, considered as neighbourhood stores, sell a variety of products in retail from a cigarette stick, shampoo sachets, to a small pack of peppercorn. They are ubiquitous in residential areas and sometimes offer goods on credit.

    The market of 7-Eleven and other convenience stores, on the other hand, are mainly young professionals.

    “7-Eleven is an upscale sari-sari store with 24 hours service, this will have an effect on local sari-sari store, on the survival rate, because 7/11 is getting the bulk the sales,” added Cortez.

    7-Eleven, the largest convenience store chain in the Philippines and operated by Philippine Seven Corp. (PSC), has more than 20 stores in the city.

    PSC aims to open 70 stores in Davao City in June this year and 120 stores by 2018 in the entire region of Mindanao.

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  • Metro Retail starts expansion

    Metro Retail starts expansion

    Newly listed Visayan retailing giant Metro Retail Stores Group Inc. (MRSGI) is riding on the buoyant consumer spending in the country by expanding its delivery fleet and distribution infrastructure.

    “We aim to be a leader in retail supply chain management and meet our customers’ demand for world-class services,” MRSGI chair and chief executive officer Frank Gaisano said in a recent statement.

    Gaisano recently led the turnover of 37 new delivery trucks from Isuzu Philippines Corp. and 30 new delivery trucks from Hino Philippines to MRSGI’s logistics facility in Silangan, Laguna.

    In line with MRSGI’s objective to improve logistic capabilities, the company teamed up with Isuzu Philippines for the acquisition of 13 units of Isuzu FVM 10-wheeler trucks with aluminum wing van, 12 units of NKR71 with refrigerated van body and 12 units of NKR71 with aluminum body.

    The company also teamed up with Hino Philippines for the acquisition of 16 units of SH1E tractor head and 14 units of WU342L 6-wheeler truck with aluminum van body.

    The new fleet will be deployed to MRSGI’s 46-store network that serves over 250,000 customers daily, the company said.

    To ensure timely delivery of goods and improve overall cost efficiency, MRSGI plans to equip all its in-house delivery trucks with tracking devices that will enable real-time monitoring from the company’s control center. “Employing the latest technology is a key innovation that will drive our business forward,” said Gaisano, highlighting the company’s commitment to continuously upgrade its infrastructure.

    Alongside its investments in technology and equipment, MRSGI also plans to hire 130 personnel to join its team of engineers, mechanics, customer service representatives, traffic controllers, and cost and transport specialists who support the company’s growing logistics and supply chain network.

    MRSGI has also committed to train its drivers on safety, driving efficiency, and customer service delivery in line with its thrust to provide friendly and responsive service to its customers. “We have a comprehensive approach to improving service delivery,” said Gaisano, who explained that “good customer service does not stop with store associates, but is reflected in every aspect of the company’s operations, including supply chain management and back-end services.”

    Armed with fresh capital for expansion, MRSGI—which listed back in November—planned to open 50 to 70 new stores to double its nationwide retailing footprint in the next five years.  The group currently has around 400,000 square meters of gross floor area across its 46 stores, making it the largest retailer in Visayas and the fourth largest nationwide.

  • Philippine associations honor key professionals

    Philippine associations honor key professionals

    The PCAAE’s inaugural Ang Susi awards open a new era for national organizations and the specialists who run them. PHILIPPINE association executives honored key members of their emerging profession at their inaugural Ang Susi Awards, this month. Organized by the 197-member Philippine Council for the Advancement of Association Executives (PCAAE), the awards recognized individials and institutions in seven categories at a beautifully catered gala at the Philippine International Convention Center.

    The highlight of the night was the warm applause for Evelyn Salire, when she was named Association Executive of the Year. She won the prize for her achievements as the Secretary-General of the Philippine Retailers Association. After decades of industry-building, behind-the-scenes event work, Salire is now a Philippine event industry role model.

    There were also six institutional categories, as follows;

    Environmental Impact Award Winner: Chamber of Furniture Industries of the Philippines (CFIP) Project entries: EU Due Diligence Guidebook and The Material Matters: A Sourcebook on Material Manipulation of the Homestyle Industry.

    The books show wood users are wood savers too, and provide the timber industry, (which supports one million households across the Philippines) with a concise and specific information on how to comply with the social, legal and environmental aspects for a sustainable timber industry. The EU Due Diligence Guidebook also came about in a time when international export markets demand, more than ever, verifiable standards of environmental compliance.

    In partnership with the Philippine Wood Producers’ Association, the Department of Environment and Natural Resources, the Department of Trade and Industry and the Global Forestry Services – and with funding from the EU and the UN’s Food and Agriculture Organization – the CFIP showed that it can make a difference in leading the timber industry and, in particular the furniture industry, in promoting good environmental governance and management practices.

    On the other hand, to repurpose and develop new applications of past raw materials used by the industry into new raw materials of mixed media, and to develop furniture products using innovations in the indigenous raw materials, CFIP has produced another publication entitled The Material Matters: A Sourcebook on Material Manipulation of the Homestyle Industry.

    The project brought about at least eight newly-manipulated raw materials undertaken by as many well-known designers in the country which were then used by small and medium enterprises to be applied in furniture design that consequently resulted in at least 16 furniture collections that are now being offered in the market.

    The project was conceptualized by CFIP and ably supported by the Design Center of the Philippines (DCP), a partnership that has led to fresh, durable and saleable designs and amplifies the world-renown talent and craftsmanship of the Filipinos.

    People Empowerment Award Winner: Girl Scouts of the Philippines (GSP) Project Entry: GSP Nationalization Scheme for Council Executives

    For 75 years, the Girl Scouts of the Philippines (GSP) continues to be the largest volunteer-led and girls-only movement in the country. With a complex governance structure, it has been a challenge for the GSP to promote and maintain responsible Council governance to ensure continuing relevance in achieving its organizational mission and vision.

    For instance, most Council Executives have been burdened with fund sourcing to pay for their own salaries, which distract their concentration in carrying out their functions. A further challenge is the need to further professionalize its CEs through capacity-building and granting of attractive remuneration. To meet these challenges, the GSP instituted the “Nationalization Scheme for Council Executives” with an aim to deliver both quality and quantity membership for the GSP. The scheme enables the Councils to focus more on effective program delivery by rationalizing the salaries of its CEs.

    Under the scheme, competent applicants and CEs are now starting to come in and join the GSP at the Council level as professional staff, due to the competitive salaries and better benefits being offered. As a result, GSP’s membership increased from 1.9 million to 2.5 million, a remarkable 24 per cent increase.

    Community Service Award Winner: National Federation of Women’s Clubs of the Philippines (NFWC) Project Entry: NFWC Learning Centers

    For the past 94 years, the National Federation of Women’s Clubs of the Philippines has believed that early childhood education is critical to people’s personal growth.

    From its beginning nursery classes initiative in a “learning while playing environment”, these educational support programs have expanded into full-blown learning centers in its own building and complemented by 91 other affiliated learning centers throughout the country, with teaching modules that are aligned with the K-to-12 program of the government.

    The NFWC Learning Centers nationwide were instrumental in the growth and development of pupils who were trained to become responsible citizens. The nursery classes in garages, living rooms and gardens of residences of NFWC leaders in 1935 are now housed in classroom-type pre-schools with complete teaching materials. At present, NFWC has continued to receive and assessing applications for accreditation of learning centers.

    Industry Development Award Winner: Philippine Retailers Association Project Entry: “Best Practices in Retailing Series”

    The Philippine Retailers Association (PRA) is the country’s recognized organization of retailers and suppliers to the retail industry.

    To assist and upgrade the capacities of its members and others in the industry, PRA embarked on a series of seminars that it provided to retailers outside Metro Manila, in the regions and provinces across the country, to level up their competitiveness and to update them with the latest trends and practices in the global retail system.

    PRA’s roadshow capacity-building project covered topics such as store operations, customer service, loss prevention and related subjects, and has helped more than 2,000 small and medium provincial retailers in Cebu, Pangasinan, Baguio, Cagayan de Oro and Davao.

    Technology Innovation Award Winner: Hewlett Packard Enterprise Project Entry: e-Health Center (Cloud-enabled Primary Healthcare Solutions)

    Hewlett Packard Enterprise (HP) leverages the power of the cloud to transform and transfer access to quality and affordable healthcare to the poor and underserved areas around the world.

    The fully functional mobile facility can be easily mounted and is quickly and cost-effectively customized with workstations equipped software networking capabilities, an open and accessible web-based electronic medical records system and an essential diagnostic equipment integrated into the cloud. These cloud-enabled technologies provide the tools for on-site staff to perform routine diagnostic tests and make results available online so physicians hundreds of miles away can provide a remote diagnosis, thus reducing the need fo highly-skilled medics onsite.

    The project serves communities that often lack doctors, functional clinics, internet access or even electricity. Deployed initially in 14 states in India, now in Bhutan and replicable in many countries, including the Philippines, the project is poised to have both local and global impact, especially now that it is being expanded in collaboration with the Manila-based Asian Development Bank (ADB).

    Change Catalyst Award Winner: Philippine Institute for Supply Management (PISM) Project Entry: “GAWAD SINOP”

    The Philippine Institute for Supply Management is a 300-membership national association of professionals in the purchasing and supply management field.

    The PISM has used an awards program as a change catalyst to impart to its members the value and importance of setting the standard to which outstanding achievements in supply management must adhere to. It also emphasizes the critical role that supply management plays in the success of an organization.

    The “Gawad Sinop” Awards delivers the message of the contribution of supply management and its four pillars, namely, purchasing, demand and replenishment, logistics and customer service, to organizational competitiveness.

    The PISM, through this awards programme, demonstrates the world-class nature of the supply management professionals in the Philippines and furthers the wealth of knowledge and best practices, not only of the award winners themselves but also other members and to the public-at-large.

    The “Gawad Sinop” award is considered the highest honor given to supply management professionals and organizations who have contributed to the upliftment of the sector.

  • SM Prime Holdings mall business announces recent ISO 22301 certification

    ISO awarded the certificate to SM Prime for establishing and applying a Business Continuity Management program for its SM Supermalls. Likewise, the certification covers the Mall of Asia Arena Annex Building, the headquarters of SM Prime in Pasay as well as SM Megamall, one of SM Prime’s largest malls in the country.

    “This certification assures our stakeholders that the company will be able to respond to, recover from and continue its business after a disruptive event. For our customers, this means assuring their safety first and foremost, even as we provide access to basic necessities even at the onset of the calamity,” SM Prime President Hans T. Sy said.

    The ISO certification meant going through a series of detailed audits which included internal assessments to ensure readiness for certification and an external audit on the company’s Business Continuity Management System.

    “SM Prime is committed to make sure that business continuity is part of our operations especially after a calamity to provide continuous livelihood, not only to our employees, but to the employees also of our tenants, suppliers and all our stakeholders,” Sy added.

    The ISO is an independent, non-governmental international organization with a membership of 162 national standard bodies. It brings together experts to share knowledge and develop voluntary, concensus-based, market relevant international standards that support innovation and provide solutions to global challenges.

    The ISO 22301 certification covers the requirements for a robust business continuity management system, which will allow the company to minimise the risk associated with disruptions and to make certain that control is maintained at all times.

    In the last few decades, SM malls have integrated disaster risk reduction into their design and operations amid worsening effects of climate change. Aside from SM Megamall, good examples of these are SM City Cabanatuan in Nueva Ecija, SM City Marikina, SM City Masinag in Antipolo, Rizal, SM BF Paranaque, SM Angono and SM San Mateo in Rizal, SM Muntinlupa in Alabang, The SM Mall of Asia in Pasay and SM Seaside City in Cebu among others.

     

    Philippines: SM Prime Holdings mall business announces recent ISO 22301 certification

    Shown in the photo are (from left) Richard O. Regalado, Consultant, EIAN Management Consulting; John C. Ong, Chief Finance Officer, SM Prime; Myquel M. Regalado, Adviser, EIAN Management Consulting; Royston A. Cabunag, Assistant Vice President for Operations, Mall of Asia Annex Building; Femelyn Lati, General Manager, TŪV SŪD PSB Philippines; Hans T. Sy, President, SM Prime; Christian V. Mathay, AVP for Operations, SM Megamall; Eunice M. Sotto, AVP for Enterprise Risk Management, SM Prime; Anna Maria S. Garcia, President, Shopping Center Management Corp.; and Egbert T. Lim, Mall Manager, SM Megamall.

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  • Philippines to launch new tourism campaign next year

    Philippines to launch new tourism campaign next year

    Following the success of the “Visit the Philippines Year (VPY) 2015” campaign, the country’s Department of Tourism (DoT) will launch a similar initiative again next year. The “Visit the Philippines Again (VPA) 2016” drive is part of DoT’s intensive marketing efforts to establish the Philippines both as a tourist and business destination.

    “Visit the Philippines Again 2016 is going to be a massive retail-focused effort. We are negotiating with tour operators and travel agents to give incentives to returning visitors to the Philippines,” DoT secretary Ramon R. Jimenez, Jr. said.

    Aside from the special packages for visitors, the DoT, together with its Tourism Promotions Board (TPB), has partnered with the private sector and local government units in promising a bigger, greater, and more exciting line up of events and tourism product offerings that showcase the country’s competitive advantage as a destination.

    Among these major events are the Asean Tourism Forum 2016, Routes Asia 2016, Madrid Fusion Manila 2016, 2016 Ironman 70.3 Asia Pacific Championship, MTV Music Evolution 2016, and the Travel Blog EXchange (TBEX).

    “Our VPA campaign will again highlight the Philippines as a multi-level experience destination with our warm Filipino people, exciting activities, and endless new discoveries in our award-winning destinations that are worth a repeat visit. We are also putting together packages and rewards, so that when a tourist returns to the Philippines for a second or fifth time, he will get discounts in several establishments,” the tourism chief added.

    Of particular note for the Middle East is the “Kids Stay Free Campaign”, which has been designed exclusively for families (both nationals and expatriates), living in the GCC and offers exceptional value.

    The campaign packages provide two children per family under the age of 11 with an exciting array of activities, food, accommodations and other experiences all on a complimentary basis. Additionally the packages allow families to twin the Philippines capital Manila with another exotic destination such as Cebu, Palawan, Boracay, Bohol, Davao or Bicol, allowing for both an urban and idyllic getaway experience.

    GCC nationals require no visa to visit the Philippines. The country’s many popular shopping experiences, tranquil beaches and numerous family-friendly attractions have resulted in an increasing number of GCC residents choosing to make the Philippines their holiday destination of choice, a statement said.

    A total of 65,642 visitors from the GCC visited the Philippines between January and September 2015, resulting in a 12 per cent increase compared to 2014 figures for the same period, data showed. Saudi Arabia accounted for the highest number at 40,453 travellers, an increase of 17 per cent compared to the year before.

  • Davao could be next retail hotspot

    Davao could be next retail hotspot

    With strong macroeconomic fundamentals driven by a burgeoning consumer market and supporting social infrastructure, Davao City is expected to be the Philippines’ next retail hotspot outside Metro Manila. A recent report by global real estate services group Cushman and Wakefield said such progressive environment has supported the recent expansion of retail space in the city and the influx of international brands.

    Cushman and Wakefield said Davao City exhibits the trends and qualities that make for a robust retail market.

    Some of these qualities are Davao’s increasing population, the city’s high income, massive regional consumer market, and strong tourism market.

    Cushman and Wakefield noted that the rapid influx of people into the city has turned it into the largest urbanized area in terms of population and land area outside Metro Manila. The city is estimated to have a population to date of about 1.63 million.

    It also said the uptrend in the city’s population is driven by the migration of people from other regions, mainly because of the incentives that Davao has to offer, such as good social
    infrastructure like easy access to quality schools, hospitals, and an international airport.

    The advent of the Information Technology-Business Process Outsourcing (IT-BPO) sector in the city has also served as a magnet for people to settle in Davao.

    “The outlook now is that we will be seeing retail integrated into workplaces and mixed-use township communities,” the report said.

    Citing the implementation of a stringent traffic management system, Cushman and Wakefield observed in Davao the absence of traffic and infrastructure woes that bug people in Metro Manila.

    “Further, complementing the population trend, we have seen housing subdivisions and residential options increase in urban Davao, encouraging people to choose to conveniently live in the city,” it added.

    Davao is also recognized as one of the top-five high-income cities in the country, according to data from the Bureau of Local Government Finance.

    The report said the economic gains of Davao City could also be gauged from the city’s transforming economic landscape, with buildings rising in every corner.

    “We see the emergence of infrastructure like high-rise residential buildings and mixed-use developments,” the report noted.

    Among the significant upcoming developments, it cited, are the mixed-township Davao Park District, Dusit’s luxury accommodations Dusit Thani Residences and DusitD2 Hotel, and the Lubi Plantation Resort.

    “Clearly, Davao City has proven and continues to prove to be an economically healthy emerging high-income city that offers the right incentives for business and investment,” Cushman and Wakefield said.

    The report cited that the city experienced a 16-percent increase in total capital from 2011 to 2014 alone.

    The report also said Davao City serves as the regional center of the entire Davao Region, which is known to be the fastest growing region in the country, exhibiting exceptional gross regional domestic product (GDRP) growth rate in 2014 at 9.4 percent from the 6.7 percent in 2013.

    The report said one of the main drivers of this growth is the region’s locational advantage as a financial and business hub in Southern Philippines, and with the emergence of IT-BPO parks in the region.

    “This motivated business expansion into the region, resulting in the increased demand for property in the form of offices and residential and retail spaces,” the report said.

    The report also pointed out Davao Region’s emerging signs of a maturing consumer market, even surpassing Metro Manila’s and the whole Philippines’ growth in terms of per capita spending.

    “Indicators show that purchasing power is increasing in the region and this presents ample opportunity for growth in retail,” the report said.

    It said the optimism toward Davao retail and developers’ consequent response of adding more retail spaces had ushered in an influx of retailers, including foreign brands.

    “We can now observe a very international mix of tenants, especially in the newer malls of Ayala and SM,” Cushman and Wakefield said. “This is a drastic departure from six years ago, when tenants were predominantly local brands.”

    The group noted that Davao’s biggest malls now have more international tenants, especially the established brands for general retail, 90 percent of which are fast fashion.

    Cushman and Wakefield said this is especially true for Ayala Abreeza and SM Lanang Premier, which post international tenant shares of 72 percent and 63 percent, respectively.

    Cushman and Wakefield said this is anticipated, as both Ayala Abreeza and SM Lanang Premier have always marketed themselves as the premier and upscale malls in Davao.

    The group said while there is no visible major shopping mall project in the city’s pipeline yet, future retail development is looking to take place in many of Davao’s mixed-use developments.

    “Major malls tend to evolve over time, more often not expanding retail space in the process,” Cushman and Wakefield stressed. “Many of the major mall developers in Davao, like SM and Ayala, have sizable land banks that allow for any form of expansion.”

    The group further noted that the rapid take-up of retail space in major malls is sure to keep occupancy rates at a high, with optimistic projections looking at close to 100-percent occupancy by 2016.

    A popular Philippine tourist spot, Davao breached the one-million tourist arrival benchmark in 2012, and has since been growing, even if 90 percent of the tourists were locals.

    “Domestic travelers have proven to be a strong market for retail tourism, as Filipino travelers tend to include shopping in malls in travel plans,” Cushman and Wakefield said.
    The firm said the past five years has been the most vibrant for Davao City in terms of retail, as retail developers see the opportunities for retail growth in the area.

    Some of the biggest shopping malls in Davao so far are: the Ayala Abreeza Mall by Ayala Land Inc.; Gaisano Mall of Davao by DSG Sons Group Inc; and SM City Davao and SM Premier Lanang both by SM Prime Holdings.

    “While Davao retail is already more dynamic, it will become even more vibrant, as new developers and retailers enter the market,” Cushman and Wakefield concluded. “With the right demographic fundamentals, the social infrastructure to support the demographic, and an energetic and fresh retail sector, Davao City is poised for further retail development and is surely a retail destination to look out for outside the capital.”

  • Photo fails… It’s more fun in the Philippines

    Photo fails… It’s more fun in the Philippines

    The more awkward, the better. The Department of Tourism (DOT) is now calling on netizens to submit entries for its new contest, which aims to award cringe-worthy photos of tourists in the country’s top tourist destinations.

    “From the almost picture perfect photos of white, sandy beaches mangled by poor cropping or a giant thumb on the lens, everyone is invited to upload his own version of photo fails on Instagram, Twitter, or Facebook with the official hashtag #Visitphilippinesagain2016,” DOT said.

    The contest aims to attract visitors, who already went to the Philippines once, by implying in a humorous way that there is always something they could do much better on their next visit in the country.

    The winner will be determined based on the following criteria: fun; beauty of the Philippines captured in the shot; and creativity.

    Interested participants may visit DOT’s official online accounts at itsmorefuninthephilippines.com, facebook.com/itsmorefuninthephilippines, and @TourismPHL for Twitter and Instagram accounts to get additional details about the promo.

    The deadline for the submission of entries is on Jan. 15, 2016.

    The contest will serve as the online launch of DOT’s Visit the Philippines Again (VPA) 2016 promotion campaign, which aims to repeat the success of the Visit the Philippines Year (VPY) 2015 campaign.

    Photo fails (Photo courtesy of 'It's More Fun in the Philippines' website)

    Photo fails (Screenshot from ‘It’s More Fun in the Philippines’ website)

    DOT officials earlier directly attributed the surge in the number of tourist arrivals this year to the VPY.

    “2016 will be a year of again. Our VPA campaign will again highlight the Philippines as a multi-level experience destination with our warm Filipino people, exciting activities, and endless new discoveries in our award-winning destinations that are worth a repeat visit,” Tourism Secretary Ramon Jimenez, Jr. said.

    Jimenez disclosed they are also coordinating with the tourism establishments in of the possibility of providing packages and rewards to tourists, who will visit the country multiple times.

    “Visit the Philippines Again 2016 is going to be the most massive retail-focused effort the Philippines has ever made. We are negotiating with tour operators and travel agents to give incentives to returning visitors to the Philippines,” Jimenez said.

    Among the major events lined up for the VAP is the ASEAN Tourism Forum 2016, Routes Asia 2016, Madrid Fusion Manila 2016, 2016 Ironman 70.3 Asia Pacific Championship, MTV Music Evolution 2016, and the Travel Blog EXchange (TBEX).

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  • Singapore shares food, culture and friendship for 50th anniversary

    Singapore shares food, culture and friendship for 50th anniversary

    Singapore celebrates 50 years of independence by sharing with Filipinos the best of what Singapore has to offer. Singapore Ambassador Ms. Kok Li Peng and Secretary of Foreign Affairs Albert del Rosario opens SG50, a cultural fair to celebrate Singapore’s 50 years of independence. All photos by Ana Vasquez/Rappler

    The year 2015 marks Singapore’s Golden Jubilee year. Although Singapore’s independence day was celebrated last August 9, 2015, the festivities in the Philippines were extended to highlight the city-state’s historical milestone.

    To cap the series of activities, the Singapore Embassy showcased the country’s offerings through SG50 in Manila at Bonifacio High Street on December 20, 2015.

    The power of three

    The one-day event featured three Singapore powerhouses: food, retail, and tourism.

    It was definitely a feast fit for the gods, as evidenced by the guests indulging in all types of savory Singaporean cuisine.

    Singaporean classics such as laksa and chicken rice were the crowd pleasers, in sync with the Filipino palate. One of the booths even offered the Singaporean version of fishballs and squidballs. “Our version is bigger and has more flavor. Also, no preservatives added,” said one of the Singaporean vendors.

    The famous shopping district of Orchard Road was brought to the Philippines through the display of Singaporean fashion brands, Heat Wave and G-Star Raw. Also, guests were given access to Singapore’s Changi Airport through the Singapore Airlines (SIA) booth, which highlighted travel destinations in Singapore such as Marina Bay Sands and the Singapore Zoo.

    Guests were also given a glimpse of what it feels to grow up in Singapore through Five Stones, a traditional Singaporean game, which is similar to jackstones. There were also coloring and face-painting activities for the kids.

    FIVE STONES. Kids play Five Stones, a Kampung game. The goal is to catch all 5 stones, a triangular cloth filled with rice—much like the English Jack Stones. Kampung means community in Malay.

    Trip down memory lane

    Did you know Singapore started as a fishing village? With the guidance of its founding father, the late Lee Kuan Yew, Singapore evolved into the modern and globalized country we know today.

    Singapore became a sovereign nation when it declared its independence from Malaysia in 1965. Throughout the 50 years of independence, the people of Singapore embody the “never say die” spirit as they continue to expand their nation’s horizon.

    In 1969, bilateral relations between the Philippines and Singapore were established. Today, this relationship continues to deepen as both nations constantly exchange cultural backgrounds.

    FOOD FESTIVAL. Singaporean food at its delicious best.

    Neighbors

    A couple, who declined to be name for this report, shared a few cultural observations between the two neighboring countries. The husband, a Singaporean, admitted that it was hard to adjust at first due to the culture shock. “Masyado kasi silang formal,” explained the wife, who is a Filipina. However, she was happy to say that her husband has finally adapted to the hospitable nature of Filipinos. The two travel back and forth to the Philippines regularly.

    Moving forward

    SG50 in Manila was an invitation to the Filipinos to celebrate and commemorate Singapore’s 50th year of independence.

    Mr. Scott Loh, Deputy Chief of Mission and Councilor of the Singapore Embassy, attested that the relationship of the Philippines with Singapore is growing stronger than ever. He was happy to report that Jollibee is the best performing operating overseas outlet in Singapore.

    The relationship of Singapore and Philippines is an example of how cultural interaction and communication can enrich one’s nation and more importantly, its people. It should not always be what we can show to them, but also, what we can learn from them. In fact, you might be surprised to know that Singaporean children, as young as 8 years old, take the bus to school all by themselves. “The level of security and discipline in Singapore, iba talaga,” said a Filipino living in Singapore.

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  • SM Investments Corporation receives Platinum Award

    SM Investments Corporation receives Platinum Award

    SM was also awarded as the Best Investor Relations Team, a new category this year. SM is the sole Philippine company awarded this category among only seven companies in the Asian region. SM’s Investor Relations department is headed by Senior Vice President Corazon P. Guidote. She is supported by a team of IR and communications professionals whose main goal is to address the requirements of both its major and minority shareholders through direct communications, mainstream and social media communications, domestic and international IR roadshows, conferences and forums. They reach out to as many investors as possible both equity and fixed income who have interest in the Philippines given that SM is widely considered by the investment community as an ideal proxy for investing in the country.

    Attesting further to SM’s adherence to global standards across the group, its major listed subsidiaries SM Prime Holdings Inc. and BDO Unibank, Inc. likewise received the Platinum Award. BDO and SM Prime have also been excellence awardees of The Asset for the past six years.

    The Asset’s Corporate Awards, which focuses on Excellence in Governance, CSR and Investor Relations, uses a rigorous research process for benchmarking the region’s listed companies. The criteria used to assess the companies include a range of metrics on financial performance, which are also a proxy for gauging management acumen. The purpose of the awards is to recognize the importance of sustainable growth where companies are also evaluated according to the quality of their corporate governance, social responsibility, environmental responsibility and investor relations. A total of 56 companies were awarded on December 15 at the Four Seasons Hotel in Hong Kong.

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  • Duty Free Philippines targets $235m in 2015

    Duty Free Philippines targets $235m in 2015

    State-owned Duty Free Philippines is targeting total sales of $235m in 2015 (+2.5%) after hitting $229m in 2014, with Manila Airport accounting for nearly 45% and the downtown Fiesta Mall just under 50% as DFP’s largest single outlet.

    While the expected sales increase is modest, it is regarded as a good performance considering Manila Airport Authority reduced the number of concessions in T1 from around 30 to less than 20 due to congestion and major airlines have also transferred operations to T3.

    “T1 work is not finished. It’s work in progress,” said Duty Free Philippines Merchandising Division Manager Jennifer Start, talking exclusively to TRBusiness recently.

    “There has been a remarkable change. We have renovated our departure stores, but we heard there is more work to be done by the airport authority in T1. It’s upgrading work. They have shown us plans to expand the facility.”

    NAIA T3 departure confectionery ©

    Duty Free Philippines’ biggest-selling product category remains confectionery, accounting for 37% of total sales. It is also the biggest selling category at Manila Airport, accounting for 44%. Above: Manila NAIA Terminal 3. ©.

    Further work is also in the pipeline for T3 (which accounts for 20% of Manila Airport sales) as DFP gets to work on renovating and increasing its shops and boutiques in the departure hall.

    Meanwhile, arrival shops sales account for more than half of DFP’s total sales revenue at Manila Airport, with Filipino passengers representing the majority of customers and the number one purchase being confectionery/chocolate.

    NAIA T3 departure perfumery ©

    DFP’s perfume and cosmetics sales accounted for 11% of it total merchandise sales last year. Above: Manila NAIA Terminal 3. ©.

    By contrast, foreign passengers purchase a larger share of goods in DFP’s departure shops, with South Koreans and Mainland Chinese the highest spenders.

    Confectionery is the biggest selling category at Manila Airport, accounting for 44%, followed by liquor (26%), perfume and cosmetics (12%) and tobacco (7%). Fashion, watches and souvenirs take the remaining 11%.

    DFP Fiesta Mall-liquor ©

    The liquor section within the Duty Free Philippines Fiesta Mall. ©.

    The retailer’s downtown duty free Fiesta Mall has also undergone a total renovation and upgrade over the last two years, according to Start, and has received favourable comments from customers: “We have had a major transformation in Fiesta Mall, especially for perfume and cosmetics last year. The fashion area also has been renovated, along with liquor, tobacco and confectionery,” she said.

    “We have new Coach and Chloe boutiques, and a complete range of lingerie, bags and perfume and cosmetics in Victoria’s Secret. Another new outlet is our Bath & Bodyworks health and beauty products shop that opened here earlier in 2015.”

    Fiesta Mall Beauty Walk ©

    Wines and spirits is the second-largest product category in terms of sales across DFP’s outlets, accounting for 18% in total. ©.

    Including sales from all ten of its provincial airports, Manila Airport and the Fiesta Mall, DFP’s biggest selling product category remains confectionery, accounting for 37% of total sales, followed by liquor (18%); Perfume and cosmetics (11%); fashion (9%); and tobacco (5%).

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  • PTT firms up local expansion program

    PTT firms up local expansion program

    PTT Philippines, a unit of PTT Public Co. Ltd. of Thailand, plans to invest P3 billion in the next five years to expand the company’s network here.

    The capital expenditure program includes investments in retail stations, oil depots and terminals in Luzon and Visayas.

    “In the next five years, PTT appropriated P3 billion for expansion plan, for laying down on infra,” general manager Danilo Alabado told reporters.

    PTT Philippines currently has 94 stations and plans to put up a total of 300 by 2020.

    “Right now we have the trading areas in Luzon and Cebu. In order for us to achieve our goal to be one of the top five oil companies in the next five years, we will expand into other trading areas, other islands,” Alabado said.

    He said the company needed the support of a stronger infrastructure network  for its expansion program.

    “We need depot, fuel terminal that could come in in Visayas and Mindanao which we have been looking at,” the official said.

    PTT president and chief executive Sukanya Seriyothin cited a strong growth projected growth in Luzon for the company’s planned expansion.

    “Visayas and Mindanao we still have to further expand. We’re still moving forward in Luzon, but aside from that, we move further in Visayas, Mindanao,” Sukanya said.

    Alabado, meanwhile, said the company performed “fairly well” in 2015 with sales volume likely to increase 5 percent to 6 percent.

    “We are confident we are going to meet our target,” Alabado said, adding revenues may reach P1.1 billion this year.

    “We are looking at 5 to 6 percent growth next year until 2017 because we are going to lay down our infra support for expansion for 2018 going into 2020, we are looking at growth of 60 percent compared to what we had in 2015,” he said.

    PTT Thailand is Thailand’s biggest oil player and ranked number 81 under Fortune 500’s List of world’s largest companies.

    The company, controlled by the Thai government, is engaged in downstream and upstream petroleum, natural gas, coal, and other related businesses.

    PTT Public Co. Ltd. of Thailand, the parent of PTT Philippines, earlier said it planned to increase the revenue share of its overseas retail oil business to 20 percent in the next five years.

    PTT Thailand vice president for international marketing Wisarn Chawalitanon noted that the share of the overseas retail oil business to the company’s revenues was still small.

    PTT Thailand, which owns around 1,200 to 1,300 retail stations in Thailand, is banking on its overseas presence in the Philippines and other countries to help propel the company’s growth.

    Wisarn said the Philippines remained PTT Thailand’s priority market.

    “The Philippines is the biggest operation that we have in other Asean countries. Our revenue in the Philippines is more than 20 billion baht [P26 billion] compared with the other countries which have around 5 billion baht [P6.5 billion]. That’s why we pay attention to the Philippines,” the official said.

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  • Mango sees potential in Philippines

    Mango sees potential in Philippines

    The recent move of international fashion retailer Mango from a space tucked inside Eastwood Mall to a bigger area in front of the shopping center was a sentimental moment for Kelly Santos, Mango Philippines country supervisor.

    “This was my base store so it’s close to my heart,” says Santos, who started as a manager of the shop in June 2010, then moved up to merchandising, then to her current post for the last two-and-a-half years. “But we’re just relocating so it’s very exciting.”

    Santos’ steady climb in the company mirrors Mango’s own growth in the Philippines’ thriving retail industry.

    Since its first store in Robinsons Ermita in 1999, the boutique now boasts of 34 standalone stores spread across the Philippines-that’s more than Hong Kong’s 4, Singapore’s 16, and the US’s 7. The variants are expanding, too: Mango Woman is available in 26 stores, Mango Man in 7, the accessories line Mango Touch and Mango Kids in 5 each, and Mango’s athletic apparel is found in the brand’s boutique in SM Mall of Asia.

    Measuring 650 square meters, the Eastwood Mall boutique is an impressive affair, designed to heighten the shopping experience with its lighting, furniture, mannequins, visuals and displays.

    Still, there’s an even bigger branch in the offing.

    By the end of the year, Mango’s Megamall branch will be a multilevel store with a total floor area of 1,000 sqm. This is the second multilevel store after Mango in Ayala Malls Cebu.

    “The expansions are part of Mango revolutionizing itself and adapting to the needs of the market,” says Santos of Mango’s growth even with the presence of retail rivals. “With the challenge of competition, we remain strong because we go with the flow, bringing Mango to where the people are.”

    Collections that can be worn season after season also explain why this fast fashion brand is a favorite of both style-savvy and smart dressers. Loyal Mango patrons know that a basic top or bottom is a durable investment that works well when combined with other clothing labels. Even this season’s trend-Boho Chic, as modeled by brand ambassadors-of-the-moment Cara Delevingne and Kate Moss-offers pieces that won’t appear dated post Autumn/Winter 2015. “I would put my name on the line to say that you can still wear them after many years,” swears Santos. That even goes for the pant silhouette du jour, flares. “We were just talking about that!” exclaims the petite store supervisor with a laugh. “Actually, flared pants were the trend three years ago and I remember buying a pair from Mango. I thought I’d never use them again, but now I’m thinking of reviving my pair.”

    The brand has had a connection with the Philippines even before its boutiques reached these shores. Founded in 1984 in Spain by Turkish emigrant brothers Isak and Nahman Andic, Mango was named after the Philippine mango, whose taste so captivated Isak when he sampled the fruit during a trip to the country many years ago. The name also stuck because it is pronounced the same way in any language.

    Fifteen years later, that connection remains stronger than ever. Two years ago, the notoriously low-profile and media-shy Isak Andic visited the Philippines for the first time since the country’s stores became operational. While Mango Philippines executives were surprised at news of his arrival, “we also felt important,” says Santos. “In Asia, they know that the Philippines is full of potential. There’s even talk that he may come back soon, which really says a lot.”

    As such, Mango’s principals are keen on getting Filipinos’ opinions on everything, from the choice of brand ambassadors to the type of clothes they see on the shelves. “They always, always ask us, ‘What does your market need?’” says the country store supervisor. The short sleeve shirts that appear on the racks of Mango Man this Autumn/Winter, for instance, are a product of research from last season as well as feedback from Filipino execs.

    Evidently, this explains Mango’s staying power against equally enticing rivals.

    By giving the market exactly what it wants—from specific merchandise to stores that excite the senses—the brand will remain a constant in the malls, and in people’s wardrobes, for years to come.

    “Even with the competition,” says Santos, “we know our customers are there. They will always be back.”

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  • Metro Retail to tap P1.05-B loan facility

    Metro Retail to tap P1.05-B loan facility

    GAISANO-LED mall developer Metro Retail Stores Group Inc. (MRSGI) will be tapping a P1.05-billion loan facility for future projects.

    In a disclosure to the Philippine Stock Exchange on Friday, Metro Retail said its board of directors had allowed the company to use the facility, provided by Union Bank of the Philippines (UnionBank).

    “In the same resolution, the board approved the authorized signatories to transact with the UnionBank on behalf of the corporation for the availment of the said credit accommodation and facility,” the disclosure read.

    “It is in addition to our existing untouched loan facilities that we can tap,” Metro Retail Chief Finance Officer Aljim Jamandre told The Manila Times.

    The firm still has P9 billion worth of credit facilities from banks, which Metro Retail can tap in case of funding needs after pricing its initial public offering (IPO) at a steep discount from the original guidance.

    The 35 percent discount still yielded Metro Retail P3.62 billion from its IPO. The plan before the discount was to raise P6.17 billion.

    Joseph Conrad Balatbat, MRSGI vice president for business development, said the company “has more than adequate untapped credit facilities in addition to our IPO proceeds that can fund our current and immediate expansion plan.”

    The company is looking to build 60 to 70 stores mostly in the Visayas over the next five years to bring its store count to more than 100 by 2020 from 46 stores at present. The five year plan entails a budget of P10 billion to P15 billion.

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  • Generics revive Philippines pharma

    Generics revive Philippines pharma

    The Philippines is a developing country in which nearly 70 per cent of healthcare spending goes to the private sector. This combination means that for most Filipinos, medicines are expensive. But a regulatory shift has boosted the use of generics — cheaper copies of proprietary medicines with expired patents — and is shaking up the market to the benefit of local manufacturers.

    The shift has followed a law passed in 2008 that imposed price caps and stiffer fines on doctors prescribing brand-name medicines instead of generics.

    One result is that Unilab, a local pharmaceuticals group, has captured nearly 48 per cent of the pharmaceuticals market, at the expense of multinational giants such as Pfizer, Abbott Laboratories and GlaxoSmithKline.

    Generic medicines took 65 per cent of the market in 2014, from less than 40 per cent in 2009, according to the Pharmaceutical and Healthcare Association of the Philippines, an industry lobby group.

    Foreign pharmaceuticals makers suffered price caps imposed by a 2008 law on prescription drugs considered to be essential medicines, such as those used to treat hypertension, diabetes and pulmonary diseases.

    In response, companies such as Pfizer have begun to introduce their own branded generic lines or have dismantled production in the Philippines altogether.

    Increased use of generic drugs has been spurred by the emergence of generics-only pharmacies such as Generika and The Generics Pharmacy, two chains that have more branches between them than the retail leader Mercury Drug’s 1,000 stores.

    FT Confidential Research, a Financial Times research service, expects the market share of generics to expand to 70 per cent by 2020, as the government bolsters spending on healthcare with revenues from rising taxes on tobacco and alcohol.

    This year, the Philippine pharmaceuticals market is expected to grow 4.4 per cent to 152bn pesos ($3.25bn). Growth however is expected to accelerate to 4.7 per cent next year and 5 per cent in 2017–2018, with the administration of President Benigno Aquino raising healthcare expenditures by 38 per cent to 132.7bn pesos under the 2016 budget.

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