Tag: Philippines

  • Bakers Maison hits Philippines

    Bakers Maison hits Philippines

    An Australian bread-and-pastry chain is introducing its artisanal products to The Philippines, with a bold plan for at least 100 outlets.

    Bakers Maison, which makes French-style breads and pastries, is under the wing of Gardenia Bakeries Philippines, reports BusinessWorld Online.

    “We envision for Bakers Maison to have a minimum of 100 strategically located stores in the next few years,” says Gardenia Philippines president/GM Simplicio Umali.

    The first Bakers Maison has opened at SM North Edsa in Quezon City, offering freshly baked products “inspired by traditional and authentic French recipes and a fusion of flavours from all over the world”.

    Bakers Maison is part of the QAF group from Singapore, the parent company of Gardenia Philippines, and was established in New South Wales in 1998.

    All breads are partially baked in a clean and controlled environment and delivered frozen to the store for final oven baking, says Umali.

    “This process, otherwise known as the ‘par-baked’ method, guarantees consistent quality and freshness.”

    A central commissary production unit in Binan, Laguna, uses fast-freezing technology to lock in the freshness in the bread until final baking.

    Gardenia Philippines last month opened a sixth plant capable of producing 150,000 loaves a day to serve bread demand in Luzon. The P1-billion ($21,000) plant is in line with the company’s effort to intensify distribution to retail partners from Cagayan Valley to Sorsogon.

  • UnionBank taps Lendr to boost retail loans

    UnionBank taps Lendr to boost retail loans

    UnionBank of the Philippines (UnionBank) has tapped a multi-channel, telco- and bank-agnostic platform to boost retail loan growth.

    Salary, personal, automotive, housing, and other customer loan availments will soon be within reach through mobile devices as UnionBank and Voyager Innovations, Inc. (Voyager) collaborated to offer the bank’s retail loans portfolio through Lendr.

    Lendr is a fully digital, multi-channel, telco- and bank-agnostic platform that financial institutions and credit providers can use to reach consumers planning to avail themselves of loans through a single online “marketplace.”

    “In the fast-growing digital economy, innovation is the name of the game, and we are glad that UnionBank is seeing the vast opportunity for growth through digital lending with the help of Lendr,” Manuel V. Pangilinan, Voyager chairman, said.

    Voyager is the digital innovations arm of Philippines Long Distance Telephone Co. (PLDT) and Smart Telecom.

    “We are excited to work hand in hand to bring the best of Voyager’s FinTech innovations and UnionBank’s robust lending portfolio together for the benefit of Filipino consumers nationwide,” Pangilinan added.

    Through Lendr, UnionBank  expects to boost its retail loans portfolio and further extend its margins in consumer lending.

    “Technology, innovation and partnering have always been at the heart of UnionBank’s DNA,” Justo A. Ortiz, UnionBank chairman and chief executive said.

    “Banks need to compete with FinTechs but also need to collaborate with FinTechs, think and act like a FinTech and even transform into a FinTech in order to make a difference for our customers and other stakeholders,” he added.

    Considered a “blue ocean” opportunity for the banking sector, digital lending through online loans marketplaces like Lendr is fast becoming a priority as banks look for new opportunities.

    In an increasingly digital and mobile-driven banking landscape, partnership with financial technology or “FinTech” innovations is the key to successfully transitioning to digital banking.

    Through Lendr, UnionBank will be able to reach untapped markets without having to set aside huge capital outlays or undergo mergers and acquisitions.

    Customers will now be able to see and sign up for the bank’s various loan offerings  via SMS, the mobile app, and online with the help ofLendr.

    “We are excited to be working with Voyager, one of the best FinTechs in town. Collaborating with FinTechs is a key pillar of Unionbank’s digital transformation strategy,”said Unionbank President and COO Edwin R. Bautista.

    Lendr is expected to change the landscape for consumer loan lending not only in the Philippines but also in key growth and emerging markets through this marketplace approach.

    According to the Bangko Sentral ng Pilipinas, consumer lending has grown 20 percent year-on-year to reach P959.2 billion in the second quarter of 2015.

    “We expect more bank and financial institution partners to come on board for Lendr as we get ready to offer the service to consumers this year. Lendr is making consumer lending ‘always-on’ and ‘always-connected,” concluded Villanueva.

  • Mobi724 signs deal with Philippines government

    Mobi724 signs deal with Philippines government

    Tangent produces payment industry software. It manages the payments terminals for more than 80 banks through partnerships with the nation’s largest ATM switch and every major credit card acquirer.

    Mobi724 President Robert Rioux said all banks and retail payment terminals in the Philippines must be EMV compliant by the end of this year. The agreement with Tangent Solutions goes a long way in meeting that goal.

    “This is an opportunity for us to leverage our EMV gateways to connect and route the retail payment terminals to the proper issuing bank. This agreement allows us to reach over 40 percent of all the retailers in the country and it will allow us to connect MPOS transactions.”

    Mr. Rioux said they will deploy its couponing solution in a future phase. That is part of a much larger vision, he added.

    “Our vision is to enhance the value of commoditized payment transactions to the players in this ecosystem (card associations, banks, mobile carriers and retailers) by adding layers of intelligence to these card-linked transactions (i.e. smart transactions) in a seamless manner for all the players in the ecosystem.”

  • Colgate-Palmolive keeps the Philippines smiling on its 90th year

    Colgate-Palmolive keeps the Philippines smiling on its 90th year

    2016 marks the 90th year of Colgate-Palmolive in the Philippines and with that, the various global brands that have helped improve the lives of Filipinos. These brands include: Colgate, Palmolive, Gard, Tender Care, Axion and Ajax.

    Colgate continues to be the Oral Care brand most recommended by Dentists* and Palmolive remains to be the #1 Personal Care brand, in the Philippines**.

    Keeping Philippines Smiling has been the mission of the company since it first opened its doors in 1926 at Binondo, Manila. For almost 20 years, Colgate-Palmolive has been driving oral health education in public schools across the country, together with the Department of Education thru the Colgate Bright Smiles Bright Futures Program. This program provides oral health education as well as oral care kits (toothbrush, toothpaste) to every first grade public student in the Philippines. In 2015 school-year alone, 2.3 Million students benefited from this program.

    The company is also the exclusive partner of the Philippine Dental Association since 2001 to raise oral health awareness during Oral Health Month. This February, we will offer free dental check-up and free fluoride treatment to 100 kids in 100 barangays. That’s 10,000 kids that will have healthier smiles at the end of the month.

    The team has also been working closely with Public Health agencies to further improve the reach of oral health education and fluoride treatment application, among communities that need this support the most.

    In addition, aspiring dentists have the opportunity to receive scholarship grants from Colgate-Palmolive and the Philippine Association of Dental Colleges. Our first scholar in the 1980s: Ma. Jona Godoy, DMD became Dean of CEU’s College of Dentistry and is an active officer representing the Philippines at the International Association for Dental Research (Southeast Asia Division) since 2000. Since the partnership was officially forged in 2001, Colgate-Palmolive and PADC have granted 248 scholarships.

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    Stephen Lau, Vice-President & General Manager for Colgate-Palmolive Philippines announces the company’s theme “Keep Philippines Smiling” for its 90th year.

    Stephen Lau, Vice President and General Manager for Colgate-Palmolive Philippines explains “Indeed, the company feels privileged to have this opportunity and capacity to make a meaningful impact to the community. At Colgate-Palmolive, we firmly believe that good oral health is a basic right of every citizen.”

    Management Teams of Colgate-Palmolive Philippines, Operation Smile Philippines and Puregold Price Club Inc. have joined forces to raise funds for oral cleft surgeries and dental check-up. This kicks-off a series of community service programs to commemorate Colgate- Palmolive’s 90th year in the country

    Management Teams of Colgate-Palmolive Philippines, Operation Smile Philippines and Puregold Price Club Inc. have joined forces to raise funds for oral cleft surgeries and dental check-up. This kicks-off a series of community service programs to commemorate Colgate-
    Palmolive’s 90th year in the country

    To Keep the Philippines Smiling even more in 2016, Colgate-Palmolive has teamed up with Operation Smile Philippines Foundation, Inc.. Operation Smile brings groups of medical volunteers from across the world to help indigent children afflicted with oral cleft. It is estimated that 1 in every 500 new-born babies in the Philippines has oral cleft. This life-changing surgery not only improves the child’s oral health but significantly boosts their confidence and self-esteem.

    Puregold is the retail partner for this endeavour to help raise funds for surgeries, dental check-up and fluoride treatment. When Puregold shoppers buy participating Colgate products from February 15 to April 17, the amount of Php5 from every product purchased will be donated to Operation Smile.

    To Kick-off the company’s 90th Year, a MOA was signed between Colgate-Palmolive Philippines and Operation Smile Philippines to bring brighter smiles to children with oral cleft. In the picture (L-R): Bobby Manzano (Country Director of Development for Operation Smile Phils), Edith Villanueva (Chairman Board of Trustees, Operation Smile Phils), Stephen Lau (Vice-President/General Manager, Colgate-Palmolive Phils) and Jennifer Peng (Finance Director, Colgate-Palmolive Phils)

    To Kick-off the company’s 90th Year, a MOA was signed between Colgate-Palmolive Philippines and Operation Smile Philippines to bring brighter smiles to children with oral cleft. In the picture (L-R): Bobby Manzano (Country Director of Development for Operation Smile Phils), Edith Villanueva (Chairman Board of Trustees, Operation Smile Phils), Stephen Lau (Vice-President/General Manager, Colgate-Palmolive Phils) and Jennifer Peng (Finance Director, Colgate-Palmolive Phils)

    “This collaboration with Operation Smile is only one of several activities that Colgate-Palmolive Philippines will implement on its 90th year. We have allocated significant resources for this year-long campaign of giving back to the Filipinos. I am proud to see that the entire organization is extremely dedicated towards Keeping the Philippines Smiling more each day”, declares Stephen Lau.

  • Pernod Ricard Asia troubles parent

    Pernod Ricard Asia troubles parent

    Despite difficulties in Asian travel retail, particularly in Korea, liquor supplier Pernod Ricard reports solid first-half 2015/2016 results totalling €5b ($5.7b) and organic growth of 3 per cent.

    It says the results represent a continued gradual improvement apart from difficulties for the Chivasbrand in the pernod Ricard Asia portfolio.

    There was a negative mix driven by geography – growth in India vs. a decline in China. Overall in Asia, the company had 5 per cent growth (or 4 per cent, taking into account the changing dates of the Chinese New Year) with double-digit growth in India. However, China declined by 2 per cent (down 8 per cent adjusting for Chinese New Year).

    “Our half-year results are solid, delivering a continued improvement in sales,” says chairman and CEO Alexandre Ricard. “Our strategy has remained consistent and is driving results, in particular in terms of innovation.”

    He says the company plans to continue improving its performance and will continue to support priority markets, brands and innovations.

    Pernod Ricard includes Cambodia, China, India, Indonesia, Malaysia, Sri Lanka, Thailand, The Philippines and Vietnam in its emerging markets, and lists its top 14 brands for organic growth as Absolut, Ballantine’s, Beefeater, Chivas Regal, Havana Club, Jameson, Kahlua, Malibu, Martell, Mumm, Perrier-Jouët, Ricard, Royal Salute and The Glenlivet.

    Formed in 1975 by the merger of Ricard and Pernod, the company has a workforce of about 18,000 people. Its decentralised organisation has six brand companies and 80 market companies in each key market.

  • Asian retail outlook: “more cautious”

    Asian retail outlook: “more cautious”

    High operating costs – particularly rents and labor in Asia – will ensure retailers are more cautious this year, concludes real estate specialist CBRE.

    In its annual Asian retail outlook, the company’s research department predicts many retailers will shift their strategic focus from expanding their store networks to rationalisation, improving in-store profitability and upgrading to better locations.

    That trend is expected across the broad Asia-pacific market, including Hong Kong.

    “Leasing activity will diverge across markets, with Australia, Japan and New Zealand the most upbeat, whereas Hong Kong and Singapore will continue to struggle,” CBRE concluded.

    “Driven by ongoing urbanisation and wage increases, Southeast Asia will also see solid leasing activity. Demand across the region will be led by food and beverage retailers, while affordable and niche luxury brands will also be active.”

    CBRE also warns the rise of online shopping will continue to force shopping malls to embrace ‘retail-tainment’ and adjust their trade mix to include more experience-oriented retailers to retain foot traffic. Around 63.8 million sqft of new shopping center supply is scheduled to be completed in 2016. Against the sluggish leasing demand and ample new supply, overall retail rents are forecast to experience a mild correction of below 1 per cent in 2016.

    In a broader property outlook, CBRE forecasts that due to Asia Pacific’s steady economic growth – which will continue to outpace the rest of the world in 2016 – investment activity in the region will remain solid, although activity will be limited by asset pricing and availability.

    “The region’s investment market will continue to see strong demand from real estate funds and institutional investors. Institutional investors will continue to invest in Asia Pacific to increase their exposure to real estate for strategic diversification,” said Dr Henry Chin, head of research, CBRE Asia Pacific.

    “That said, Asia Pacific will enter a period of slower growth in the commercial real estate market with activity likely to moderate over the course of the year as it becomes more challenging to source investable stock able to meet investors’ target returns. Interest rates will remain low in 2016 so yields are largely to remain stable across Asia Pacific. However, we are expecting to see a mild yield expansion in 2017 together with the rise in interest rates.”

    The economic slowdown in China – as well as higher-than-expected US interest hike rates, and currency volatility – will also remain a key concern for investors, given the scale of its impact across the whole region.

    “However, macro trends of urbanisation and the rise of the middle class remain largely unchanged and will continue to drive growth across Asia.

    “There are structural investment-themed opportunities for investors to focus on in 2016, such as the growth of e-commerce, regional tourism and demographic changes. Demographic changes will create opportunities in niche sectors such as self-storage facilities, senior and student housing, and data centers,” said Chin.

    “Regionally, active markets will continue to be led by Australia and Japan, whilst India expects to see a positive year following the relaxation of FDI norms at the end of last year.

    “China will also remain on the radar for most international investors although demand will be largely confined to tier I cities. Overall, the long-term outlook remains positive for the region,” he concluded.

    CBRE’s 2016 APAC Real Estate Market Outlook report can be downloaded here.

  • First Metro Securities sees mobile technology driving up retail investing in the Philippines

    First Metro Securities sees mobile technology driving up retail investing in the Philippines

    Stock broker First Metro Securities Brokerage Corp. said the number of individual investors will increase on rising income of Filipinos, growing awareness of opportunities in the stock market and the emergence of online and mobile platforms that make investing easier and more convenient.

    Gonzalo Ordoñez, the company’s president, said the market for retail investing is still young as the Philippine economy is only starting to expand.

    “As we see the growing trend of more retail investors participating in the stock market, we also see the volume increasing over the coming years. With this in mind, we will continue to move forward to help change the way people invest and save money,” Ordoñez said.

    According to the 2014 data of the Philippine Stock Exchange (PSE), less than 1 percent of the estimated 100 million Filipinos invested in the stock market.

    The Philippines still has a long way to go before achieving widespread domestic investor participation in the stock market, the broker said.

    It said, however, the number of online investor accounts, which are mainly individuals, are increasing.

    Based on the PSE’s 2014 Stock Market Investor Profile reports, online investor accounts registered a five-year compounded annual growth rate of 44 percent, compared to the overall investor base, which grew by an average of 6 percent in the past five years.

    Online investors already constitute 27 percent of the total investor accounts base, coming from just 7 percent in 2010.

    With the trend of more retail investors participating in the stock market, the broker earlier launched a service that enables clients to borrow funds to buy stocks online using eligible securities as collateral. This provides clients with the ability to take on more risk in order to take advantage of emerging trends or build a larger portfolio.

    In 2013 the company launched the country’s first exchange-traded fund (ETF), which acts as a mutual fund that mirrors the performance of the benchmark Philippine Stock Exchange index and trades like a stock on the PSE.

    First Metro Securities is the market maker and an authorized participant of the said ETF.

  • Ayala eyes expansion of healthcare business

    Ayala eyes expansion of healthcare business

    The country’s oldest conglomerate Ayala Corporation plans to expand its investments in the healthcare sector with the roll out of 100 retail clinics under the brand-name FamilyDoc over the next 3 years.

    Ayala Managing Director Paolo Borromeo said in an interview that the conglomerate, through its unit Ayala Healthcare Holdings Incorporated, experimented on developing a smaller primary care clinic in December last year.

    Borromeo said the proposed clinic will house a pharmacy, a diagnostic center, and physicians to handle consultations.

    So far, it has two FamilyDoc clinics located in Las Piñas and Imus, Cavite.

    “If this becomes successful, we plan to build 100 clinics over the next 3 years,” Borromeo said.

    The initial investment for a 100-square meter clinic is from P6 million ($124,879.86) to P7 million ($145,693.17).

    Borromeo said Ayala plans to build this chain of retail clinics in middle income communities across the Philippines.

    Each clinic will have one doctor, two nurses, one pharmacist, and one radio technician.

    Operating hours are between 7 am to 9 pm. The consultation fee is P350 ($7.28) per patient.

    In 2015, the Ayala group entered the affordable retail healthcare space with the acquisition of a 50%-stake in the Generika group.

    Generika is one of the pioneers in the retail distribution of quality generic medicines in the Philippines, with 570 stores nationwide to date.

    The conglomerate entered the health care sector in 2014 through QualiMed, Ayala Land, Incorporated’s chain of hospitals and satellite clinics, in partnership with the Mercado medical group.

    Ayala had said it plans to invest $50 million in healthcare and education business over the next few years to make the most of the growing Philippine population and rising consumer spending.

    Ayala is one of the country’s largest conglomerates, with investments in banking, real estate, telecommunications, water utility, infrastructure, and power generation.

  • Manila FAME Expo To Feature Works of Famous Artists, Young Talents

    Manila FAME Expo To Feature Works of Famous Artists, Young Talents

    Intensive preparations are underway for the holding of “Manila FAME: The Design and Lifestyle Event,” which will showcase the works of the Philippines young talents in the crafts and design field.

    The expo would be held in Manilas World Trade Center, from April 21 to 24, 2016, Alma Argayoso, Philippine Trade Representative to Indonesia, said here, Tuesday.

    The Philippine Department of Trades promotion arm, the Center for International Trade Expositions and Museums (CITEM) will unveil the creation of a distinct Philippine brand in the creative industry, she noted.

    She also said that this time FAME expects to welcome an even larger number of foreign buyers from Europe and the Americas as well as from Japan, China and Taiwan.

    Also to be featured in the Manila FAME exposition are the works of Kenneth Cobunpue, whose furniture designs have received so many international accolades in the United States and Europe that TIME Magazine has dubbed him “rattans first great virtuoso.” His works today grace luxury hotels and the residences of royalties and celebrities worldwide.

    Another Filipino artist whose works will be an attraction in Manila FAME is Mila Imson who won top prize in the ASEAN Jewelry Design Competition in Thailand in September 2015. Her winning design is called “The Serpent.”

    The competition was organized by the ASEAN Intellectual Property Offices in collaboration with the European Union.

    According to Philippine Trade Representative Alma Argayoso, the achievements of Kenneth Cobonpue and Mila Imson did not come by accident.

    They are the result of the following factors: 1) Both come from families with businesses that are already well established in the trade; 2) they passionately honed their natural skills; 3) the Philippine government, no matter how poorly it performs in other fields of governance, has consistently supported and guided the creative economy since 1983; and 4) the government, through the Department of Trade and Industrys Center For International Trade Exposition and Missions (CITEM), has instituted quality control measures that ensure Philippine crafts and designs match world standards. And then, aside from all these, there is the mentorship program.

    Called “Red Box”, the mentorship program simply aims at nurturing the next generation of designers of home accents, furniture, apparel, and accessories. Young talents are paired off with successful and celebrated Filipino designers.

    Under close supervision, the young talents go through total immersion in the creative fields they are passionate about.

    They are challenged to turn out fresh designs, concepts and innovations, and to refine them so that they reflect their artistic personalities. In brief, to achieve branding.

    As a mentorship program, Red Box is supported by a platform called FAME.

    The bi-annual “Manila FAME, The Design and Lifestyle Event” showcases the works of young talents every April and last quarter of the year. The event has flourished in recent years, as it has regularly attracted many buyers from all over the world.

    As to the regional context of Manila FAME, Argayoso has explained that Southeast Asia is a region of craftsmen and designers with an abundance of natural materials that they can convert into practical items that also evoke aesthetic pleasure.

    But Southeast Asian craftsmen and designers have had to struggle to gain international recognition and patronage – even among the regions collectors.

    This is largely because most Asian buyers have fallen for the allure of Western designs and brands, she remarked.

    But times are changing, she said. Technology and global trends have revolutionized lifestyles everywhere. This revolution in tastes has leveled the playing fields for craftsmen and designers, including those from Southeast Asia.

    The Philippines has been among the first countries in the region to seize the opportunities brought about by this revolution. For over three decades since 1983, with the encouragement of a succession of government administrations, the crafts and design sector of the country patiently nurtured the skills of its professionals and the entrepreneurial foundation for a creative industry.

    This endeavor was premised on a great confidence in the quality of the nations human resources, a confidence regularly vindicated by the amount of money that Filipino overseas workers remit home every year.

  • Ford pursues Philippines expansion after record January sales

    Ford pursues Philippines expansion after record January sales

    Automotive firm Ford Philippines is gearing for faster expansion this year to sustain its growth, which has gone to a record level during the month of January.

    A statement showed that the company was able to extend its positive performance up to month of January, recording an all-time high monthly performance after it sold 2,459 car units, a jump of 50 percent compared to the same period last year.

    As a result, Ford Philippines plans to continue the expansion of its nationwide dealer network to support its ongoing growth and fast-growing customer base.

    “Ford plans to continue enhancing its customer and ownership experience across the country this year. This includes the official inauguration of Ford Marilao in Bulacan later this month as it further expands its authorized dealer network to even more key locations across the Philippines,” the company said.

    Ford’s January performance in the Philippines was led by the all-new Everest, which delivered retail sales of 1,144 units, the second highest total ever for the nameplate.

    “It’s a fantastic start to 2016, and we’re extremely proud of how the Ford brand continues to connect with our fast-growing base of Filipino customers,” said Lance Mosley, managing director of Ford Philippines.

    The EcoSport compact SUV continued as one of Ford’s top-selling models in the Philippines with January sales of 551 units.  Built on Ford’s global B-segment platform, the EcoSport continues to delight customers with its combination of small-car practicality and agility of an SUV.

    Strong demand for the class-defining Ranger pickup, the second best-selling pickup truck in the Philippines last year, also helped the company achieve additional retail sales of 543 units.

    Ford Philippines’ lineup of North American SUVs available in the Philippines also contributed to the strong start to the year, including the premium Explorer which delivered sales of 95 units, while the sporty Ford Fiesta delivered sales of 71 units,

    The iconic Mustang, equipped with either a V8 5.0L or EcoBoost 2.3L variants engine, delivered January sales of 10 units.

    Ford Philippines is the local subsidiary of Ford Motor Company, a global automotive and mobility firm based in Dearborn, Michigan.

    With about 199,000 employees and 67 plants worldwide, the company’s core business includes designing, manufacturing, marketing, financing and servicing a full line of Ford cars, trucks, SUVs and electrified vehicles, as well as Lincoln luxury vehicles.

  • Benoy expands in Philippines

    Benoy expands in Philippines

    Global design company Benoy is expanding its portfolio in The Philippines, confirming five new commissions while completing two schemes.

    A studio of architects, masterplanners, and interior and graphic designers, Benoy has been working in the region for more than a decade.

    “The Philippines is one of the strongest economies in Southeast Asia, and it has been an incredibly dynamic market for Benoy,” says director Stephen Chow. “We have seen opportunities increase as the country grows and competes on an international scale.”

    Benoy’s growing order book is mainly concentrated in the metro Manila area. Working with such developers as Ayala Land and Filinvest, the firm is involved in multiple sectors using the full complement of its services.

    In the City of Taguig, Benoy has been appointed as podium architect and interior designer for West Super Block, the latest edition to the Bonifacio Global City integrated urban plan. The development will comprise a four-storey retail podium, an all-suite residential tower and a Grade A office block that will house The Philippines Stock Exchange.

    Benoy is also doing the masterplan and architecture for a Makati mixed-use development in the heart of Manila’s commercial and financial centre. The scheme includes a commercial podium, 15-storey office tower and 39-storey residential tower – one of the tallest in the district.

    In Balintawak, a gateway from the north into Manila, Benoy is delivering an 11ha mixed-use masterplan. At the intersection of two highways, the Balintawak Masterplan includes retail, residential, commercial offices and a hospital. It will also be a regional transportation hub. Benoy is also architect for the regional mall on the site.

    A mixed-use development in Manila’s Chinatown has also been appointed to Benoy. One Binondo will feature a four-storey podium and include “micro retailing” (a trading form popular in the district), a Grade A office tower, three residential towers with landscaped gardens, a clubhouse, pool and recreational amenities.

    Also, Benoy is working on a visionary redevelopment plan for Alabang Town Centre, a retail destination in southern Manila. As part of this development, the firm will also complete the architecture plus interior and landscape design of a Lifestyle Centre at the heart of the scheme.

    “We are thrilled to have such a diverse portfolio in the Philippines,” says Chow. “It is very exciting to have the opportunity to help shape the future of the country.”

    Meanwhile, Benoy has completed two projects in Quezon City, the U.P. Town Center and Fairview Terraces, both developed by Ayala Land.

    U.P. Town Center, at the University of The Philippines campus, combines indoor and outdoor retail, dining and commercial uses within a landscaped setting. Forty per cent of the 88,000 sqm site has been designated as open space. As masterplanner and architect, Benoy is overseeing the three-phase project, with the final phase due for completing this year.

    In the city’s north, Fairview Terraces is a 135,000 sqm mixed-use development led by retail. Over five levels, the mall has about 420 retailers and a “boutique” supermarket. The focal point is a landscaped central promenade surrounded by pocket gardens and al fresco dining. Benoy completed the architecture as well as interior and graphic design.

    During construction for both schemes, trees on the site were protected. In the case of Fairview Terraces, a long-standing mango tree sits at the centre of the development.

    Previously, Benoy has overseen an extensive renovation of Ayala Alabang Town Centre.

  • Emperor Akihito’s visit to Manila

    Emperor Akihito’s visit to Manila

    At the State Dinner in his honor hosted by President Aquino at Malacañang, Japan’s Emperor Akihito offered a toast to President Aquino for the “good health and happiness of the Filipino people” and said that Japan must never forget the loss of Filipino lives in World War II.

    The 82-year-old Emperor’s last trip to the Philippines was 52 years ago, when he was still Japan’s Crown Prince. This time he came with his wife, Empress Michiko, for a five-day visit which included side trips to the International Rice Research Institute at Los Baños, and to Baguio and Tagaytay. On each of his trips to the Philippines, the Emperor has included a visit to the Tomb of the Unknown Soldier at the Libingan ng mga Bayani at Fort Bonifacio. “Japan will never forget the loss of Filipino lives during World War II,” he told his audience at the State Dinner. “And I continue to enhance mutual understanding and friendly ties with the Philippines.”

    Referring to his earlier visit a half century ago, the Emperor said: “To this day the memory of the warm smiles we received from His Excellency, President Macapagal, and the First Lady, as they stood by our plane when we arrived at Manila Airport and the warm welcome we received from the people of the Philippines remain deep in our hearts.”

    The Emperor recalled that the Philippines’ National Hero, Jose Rizal, who spent a month and a half in Japan, and later wrote that he envisioned that the two nations would eventually engage in a full-fledged relationship.

    At a private meeting in Malacañang, President Aquino and the Emperor discussed the Emperor’s earlier visit to the Philippines in 1962, when he was still the Crown Prince. They also talked about Japan’s vast automobile sales to the Philippines, and the establishment of Japan’s retail store, Uniqlo, here in Manila.

    President Aquino and Foreign Secretary Albert del Rosario also spoke of the significant increase in the number of visitors from Japan to the Philippines, and from the Philippines to Japan.

    Today, Japan is the Philippines’ largest trading partner and its top donor of foreign aid.

    This was the first visit by an Emperor of Japan to the Philippines.

  • Formoso new chairman of Asia Pacific Retail organization first for Philippines

    Formoso new chairman of Asia Pacific Retail organization first for Philippines

    Formoso becomes the first Filipino to chair this Asia Pacific Federation. The FAPRA consists of the recognized national retail trade organizations in 18 member-economies – Australia, China, Chinese Taipei, Fiji, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Mongolia, Myanmar, New Zealand, the Philippines, Singapore, Thailand, Turkey, and Vietnam.Formoso, COO of Duty Free Philippines, has assumed the FAPRA chairmanship from Mehmet T. Nane, chairman of the Turkish Council of Shopping Centers and Retailers and CEO of CarrefourSa, who formally turned over the Federation’s leadership to him during elaborate ceremonies at the recently concluded Asia Pacific Retailers Convention and Exhibition (APRCE) 2015 that Manila hosted last October. The APRCE is the biggest and longest running retail industry event in the region.

    “As a veteran in the retail industry and being the concurrent president of PRA, we are confident Formoso’s chairmanship of FAPRA would be very productive.  We are sure he will guide the FAPRA in the same way he ably shepherded the PRA,” the PRA Board said.

    Formoso also sits in the board of the Asia Pacific Travel Retail Association.

    Turkey held the FAPRA chairmanship for two years – from 2013, the year it hosted the APRCE, to 2015, the year the Philippines hosted it.  The Chairmanship of FAPRA devolves  to the immediate past host of the APRCE.

    The Philippines chairs the FAPRA until 2017.

    The FAPRA was founded in 1989. It has implemented various initiatives and programs designed to develop itself and promote information exchanges and sharing experiences and concerns towards the development of the retail industry and improving the retailers’ status and the welfare of their clients in the region.

    As new FAPRA Chairman, Formoso now presides over the Federation’s policies and programs aimed at helping promote the growth and development of retailing in the Asia Pacific region.

  • Index Living Mall plans ASEAN expansion

    Index Living Mall plans ASEAN expansion

    Home-furnishing retailer Index Living Mall has announced its 2020 vision to continue its push beyond Thailand into other ASEAN countries.

    With franchised stores already trading in Malaysia, Thailand and Vietnam, the company believes the region’s urbanisation has shifted consumers toward a more modern lifestyle, including the way they buy and use home-furnishing products. It also notes a rise in the number of middle-income earners throughout the ASEAN Economic Community.

    MD Kridchanok Patamasatayasonthi says the company aims to double the present 5 per cent contribution to its total revenue from AEC markets by 2020. The company’s total revenue of Bt9.5 billion (US$264.8 million) last year was 5 per cent up on 2014.

    “Our market expansion through international franchisees is the result of growth in the home-furnishing and accessories sectors among ASEAN member countries,” says Kridchanok. “Other positive factors, including the bustling economic outlook, rising gross incomes and similar customer behaviour, helped accelerate our decision to look for investment opportunities in new markets.”

    She says the company has appointed VinDS, the retail investment arm of Vietnamese commercial property developer Vingroup, as its franchisee to tap into the home-furnishing and accessories retail market in that country. The first Index Living Mall under that partnership had a soft opening last month in Ho Chi Minh City, occupying 7000 sqm in Vincom Mega Mall Thao Dien. Costing more than Bt200 million, the store is expected to achieve Bt350 million in sales in its first year.

    Index Living Mall has had a store trading in Ho Chi Minh for more than four years, effectively testing the market. Now with VinDS it expects to open 10 more stores in major cities in Vietnam, including Ho Chi Minh, Hanoi and Da Nang, within five years.

    “Economic growth indicators show that the Vietnamese retail market is number two in Asia, after only China,” says Kridchanok.

    “During the first half of last year, the Vietnamese economy posted 6.28 per cent growth, the highest since 2008. With a population of 90 million, this will continue to grow, thanks to per capita income rising more than 10 per cent over the past decade.”

    Kridchanok says it is expected that the number of Vietnamese earning a median income of 15 million dong ($673) a month will grow to 33 million by 2020.

    Index Living Mall’s director for international business development Ekaridhi Patamasatayasonthi says the company’s venture into Vietnam highlights its marketing direction to tap into emerging CLMV (Cambodia, Laos, Myanmar and Vietnam) markets, aimed at strengthening its leadership position in the home-furnishings and accessories retail market in the ASEAN region.

    Ekaridhi says the company plans to open store in Manila in September via a joint venture with SM Retail, a Philippine business conglomerate involved in shopping mall, property development, banking and retailing. Index Living Mall has a 30 per cent stake in the venture.

    In Malaysia, Index Living Mall opened its first home-furnishing store in Putrajaya last year in a joint venture with AEON. Three more stores are planned for Malaysia this year – in Kuala Lumpur in March, Kota Bharu in April and Johor Bahru in the fourth quarter.

    Ekaridhi says there are six franchised stores in five countries – Malaysia, Russia, Maldives, Nepal and Vietnam – as well as dealers in Laos and Myanmar. In its home country, the company has 25 stores in 17 provinces, of which nine are in Bangkok. It plans to invest Bt470 million this year to open two stores, in Nakhon Pathom and Chachoengsao.

    Index Living Mall expects to post Bt10 billion in revenue this year and to grow its annual sales by 10 per cent over the next five years.

  • Less than Half of Filipinos are Fully Satisfied with the Valentine’s Day Gifts they Receive

    Less than Half of Filipinos are Fully Satisfied with the Valentine’s Day Gifts they Receive

    In an online survey of over 300 respondents, only a third (36%) of Filipinos are really happy with their Valentine’s Day gifts. Less than half (46%) said that they were satisfied while 3% expressed absolute dissatisfaction.

    The survey, conducted by Lazada, explored the processes and reasons for the lack of contentment over Valentine’s Day gifts.

    Avoid Cliché’s but Never Forget the Essentials

    Almost one in four respondents (23%) expressed that chocolates and couple’s shirts are cliché, but the most cliché gifts are picture frames with over 40% of people agreeing they are passé.

    On the other hand, over 30% of respondents agree that flowers are a must have, beating out chocolates (19%), stuffed toys (9.6%). Surprisingly, more and more people (15%) see gadgets as an essential gift for the month of romance.

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    Ask and You Shall Receive

    It seems surprise gifts are falling out of fashion as an overwhelming 86% of respondents prefer to express to their partners what they want. This transparency between couples extends to finding deals. 65% of respondents said they don’t mind sharing that they got their gifts on sale. The implicit learning is that if you get your partner the gift they want, it doesn’t matter if you got it on discount.

    Digital Love
    The survey also explored love in the digital space. Overtly expressing affection over social media or “Online PDA” seems acceptable with 52% of respondents saying they practice social media PDA themselves. 

    However, when it comes to meeting love interests online, half of the respondents had hesitations with online dating. 51% agreed with the statement:  “Online shopping never hurt anyone, people do.” Talk about #hugot.

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    Love to Shop and Shop to Love

    As our Valentine’s Day gifting habits evolve and improve, it is important for Filipinos to discover more convenient and cost effective ways to find the perfect gift. That’s why Lazada’s Valentine’s Day promo makes it the perfect place to get the gifts your partner wants in ways you can easily afford.