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Monthly Archives: May 2019

URC on track for 7-9% sales growth this year

UNIVERSAL Robina Corp. (URC) is tracking a high single-digit topline growth for 2019, as the company banks on the recovery of its coffee business alongside the expansion of its other food and agro-industrial businesses.

Himala: Isang Musikal dominates the 11th Gawad Buhay Awards

THE Sandbox Collective and 9 Works Theatrical’s Himala: Isang Musikal dominated the evening, winning eight awards at the 11th Gawad Buhay Awards held on May 28 at Makati’s Onstage Theater in Greenbelt 1.

Pilmico takes full control of Gold Coin

THE agribusiness arm of Aboitiz Equity Ventures, Inc. (AEV) now fully owns Singapore-based Gold Coin Management Holdings, Inc., after purchasing the remaining 25% in the firm for $120 million.

ACCA pushes improvements to country’s cloud-first policy

THE Asia Cloud Computing Association (ACCA) released on Monday a white paper that proposes fine-tuning of the Philippines’ cloud-first policy, as it said it sees potential in the country to advance the movement of the public sector to the cloud.

History on a plate

OF ALL the facets of culture and history — think language, clothing, art — food is usually relegated to the sidelines. “It’s always going to be there,” we say to ourselves while it disappears from our tables, replaced by global selections that are easy to prepare, easy to eat, and are easily forgotten. Food does not deserve this position, for it is the fuel that forged revolutions, gave sustenance to communities, and, today, continues to build the nation.

Chelsea inks deal with Japan firm

A JAPANESE shipping company Kumiai Senpaku Co. Ltd. will finance the construction and acquisition of a new passenger vessel for Starlite Ferries, Inc., according to the latter’s parent company Chelsea Logistics and Infrastructure Holdings Corp. (CLC).

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Amazon working on a device that can read human emotions

AMAZON.COM Inc. is developing a voice-activated wearable device that can recognize human emotions.

Demand for TDF drops ahead of reserve requirement reductions

BIDS FOR term deposits declined further on Wednesday ahead of the first round of cuts to lenders’ reserve requirement ratios (RRR) taking effect this week.

Talking tequila

DEPENDING on who you ask, the word “tequila” will conjure up an story, most commonly one entailing regret in having had an excess of the spirit. Despite its infamy, tequila in itself is a representation of a multitude of stories and flavors that one has to learn to fully appreciate and feel. It is, after all, a distilled spirit dating back from the 1600s — which means it has a lot of stories.

Huawei calls US ban on its 5G gear a ‘dangerous precedent’

HUAWEI Technologies Co. has asked a US judge to rule that a ban on federal agencies and contractors buying its gear violates the constitution, delivering its latest legal riposte to American accusations it aids Beijing in espionage.

Epson Philippines bullish on growth prospects

AFTER clocking in another double-digit growth year in 2018, Epson Philippines Corp. (EPC) remains bullish on its prospects as the company focuses on growing their business-to-business (B2B) segment, according to a company executive.

SSS condones P9.5B in penalties under LRP

THE SOCIAL SECURITY System (SSS) condoned P9.5 billion in short-term penalties of calamity-affected members under the second round of its loan restructuring program (LRP).

Listen to understand, not respond

AMONG A slew of big-budget productions, a not-so-quiet little play emerged with one of the boldest and loudest, yet sweetest, voice that many have not heard in a very long time. The Kundiman Party, a play by Floy Quintos and directed by Dexter M. Santos, is currently being restaged at the Peta Theater Center.
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SEC approves hospital operator’s P1-B offering

ALLIED CARE Experts (ACE) Malolos Doctors, Inc. has secured clearance from the Securities and Exchange Commission (SEC) to push through with its P1-billion maiden offering.

Cyber firm Deep Instinct gets deal to secure HP laptops

TEL AVIV — HP Inc. is working with Israeli cybersecurity firm Deep Instinct to launch HP Sure Sense to prevent advanced cyber attacks, the two companies said on Tuesday.

BSP okays revised rules for external auditors’ selection

THE CENTRAL BANK has rationalized the framework for the selection of external auditors of Bangko Sentral ng Pilipinas (BSP) Supervised Financial Institutions (BSFIs) to streamline and centralize requirements across agencies.

Tough pots

IT’S always a toss-up in the kitchen between equipment and skill, and then nutritious or delicious, but with a new line by Tefal, you can finally get the balance of having both.

Fitch affirms PHL telcos’ ratings

FITCH Ratings on Wednesday affirmed the long-term foreign- and local-currency issuer default ratings (IDR) of PLDT Inc. at “BBB,” and of Globe Telecom, Inc. at “BBB-.”

AgriNurture’s listing anniversary

AgriNurture, Inc. (ANI) marked its 10th listing anniversary as a publicly listed company with a special bell ringing ceremony at the Philippine Stock Exchange (PSE) on Wednesday.

After Honor of Kings failure abroad, Tencent retools overseas strategy

SHENZHEN, China/SHANGHAI — When Tencent Holdings Ltd. made its first big foray overseas with an adaptation of its blockbuster mobile game Honor of Kings in the summer of 2017, executives thought they had a sure-fire success on their hands.

Singapore, Malaysia, Vietnam added to US currency watch list

THE US TREASURY added Singapore, Malaysia and Vietnam to a watch list for currency manipulation, putting their foreign-exchange policies under scrutiny.

Restaurant Row (05/30/19)

SOLAIRE presents “Culinary Masters: Chef Jun Yukimura” as the 3 Michelin Star chef takes over the kitchen of Yakumi on June 6 to 8, from 7 to 10 p.m.

How PSEi member stocks performed — May 29, 2019

Here’s a quick glance at how PSEi stocks fared on Wednesday, May 29, 2019.

GOCC dividends ahead of pace to crush record 2018 performance

FORTY-SIX government-owned and controlled corporations (GOCCs) remitted a total of P38.9 billion worth of dividends to the Treasury in the five months to May, or just 3% less than the record P40.17 billion remitted in all of 2018, the Department of Finance (DoF) said.
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Moody’s cuts 2019 PHL GDP forecast to 6%

MOODY’s Investors Service cut its Philippine economic growth forecast to 6% for this year from its previous projection of 6.2% due to the delayed approval of the 2019 General Appropriations Act (GAA), which dampened gross domestic product (GDP) growth in the first quarter.

Incentive package being drafted for e-vehicle assembly plants

THE Department of Trade and Industry (DTI) said it is working to release within the year an incentive package that will encourage hybrid and electric car manufacturers to set up assembly plants here.

Anti-swine fever measures small price to pay to preserve ₱200-B hog industry — Agriculture...

THE Department of Agriculture (DA) said it would rather see pork prices rise as a result of measures adopted to minimize the risk of African Swine Fever (ASF), than allow the disease to enter the country and devastate the P200- billion hog-raisng industry.

NEDA plan to blunt impact of El Niño to address food, water security

THE National Economic and Development Authority (NEDA) is currently seeking funding for a plan to mitigate the impact of El Niño, focused on ensuring food and water security.
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Employers striving for ‘more balanced’ approach to job security, inclusiveness

THE Employers Confederation of the Philippines (ECoP), the largest group of private employers, said Thursday it will work to develop “more balanced” policies on job security and worker protections, on the same week the Security of Tenure Bill made its way through the legislature.
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Competitiveness rankings highlight need for infrastructure upgrades, digital readiness

THE Philippines needs to sustain its investment in physical infrastructure and ensure a digital-ready work force, the head of an Asian Institute of Management (AIM) think tank on competitiveness said.

e-Invoicing: Time to get ready!

One of the major changes introduced in the TRAIN law was mandatory e-invoicing. Under the law, taxpayers engaged in the export of goods and services, e-commerce, and those considered Large Taxpayers, are required to issue electronic invoices/receipts and to report their sales data to the Bureau of Internal Revenue (BIR) at the point of sale within five years from the effectivity of the TRAIN law, i.e., on or before Jan. 1, 2023. This measure is contingent on the establishment of a system capable of storing and processing the required data.

Developing an entrepreneurial mindset

A national conference on health dubbed “Tech-Care: Revolution, Evolution and Innovations in Health Care” was recently organized by the Our Lady of Fatima University (OLFU) in Valuenzela City. It was organized by the indefatigable dean of the College of Nursing, Dr. Maria Luisa Uayan, who is a friend way back from our graduate school days and she asked me to give a talk on entrepreneurship. At first, I was taken aback because entrepreneurship and the health professions are not usually mutually exclusive. She then told me that in the latest Commission on Higher Education Memorandum Order for the Bachelor of Nursing program that the teaching of entrepreneurship is embedded in the program and is even a specific learning outcome that states “apply entrepreneurial skills in the delivery of nursing care.”

Warm, cold calling

A WEEK before last Christmas I was in the middle of a training session in Mumbai, India when my silent phone lit up with an incoming call. During the break I noted that it was from an unknown number from the Philippines. Instead of asking an impolite “Who is this please?” I sent an SMS saying, “I am in the middle of a meeting — how can I help?”

Fighting fire with fire

More than a year ago, I took a position in favor of taxing “vaping” or the use of electronic cigarettes, in addition to raising taxes on regular cigarettes and other tobacco products. Since then, some initiatives were started in Congress to regulate and tax the vaping industry. However, no actual regulation materialized by the time Congress adjourned for the May 2019 elections.

Starting on time

IT’S THE DIFFERENT interpretations of time and the meaning of punctuality and tardiness, along with the social stigma, if any, attached to either one, that account for asymmetrical expectations with different cultures. While time for developed economies is numerical and inflexible, Filipino time is determined by ritual, and thus ruled by an accepted ambiguity. Time is not considered a precious resource that needs to be conserved and wisely managed, since there’s too much of it available to most.

Northport sails to 3-0 record with win vs TNT

THE NORTHPORT Batang Pier sailed to third win in as many games in the Philippine Basketball Association Commissioner’s Cup after beating the TNT KaTropa, 110-86, on Wednesday at the Mall of Asia Arena.

Osaka flirts with early exit as top players struggle at French Open

PARIS — Naomi Osaka’s quest for a third consecutive Grand Slam title almost came to an abrupt end on Tuesday as a number of top players struggled to book their spots in the second round of the French Open.

PSC Chairman Ramirez reconsiders, accepts SEA Games CDM role

PHILIPPINE Sports Commission Chairman Butch Ramirez will be the chef de mission (CDM) of the country to the 2019 Southeast Asian Games after all. This, after he reconsidered his previous decision to decline the offer.

Thirdy Ravena named Basketball Player of the Year

NAMED as the Basketball Player of the Year in the recently held Collegiate Press Corps Awards, Ateneo de Manila University’s Thirdy Ravena said the latest accolade only serves to inspire him to be better come next season where he will play his final year with the Blue Eagles.

Cincinnati Reds’ Derek Dietrich hits three homers

LOS ANGELES — Derek Dietrich had a career-high three home runs and drove in six to lead the Cincinnati Reds to an 11-6 win against the visiting Pittsburgh Pirates on Tuesday night. Dietrich blasted two-run homers in the fourth, fifth and seventh innings.

Early exit

Caroline Wozniacki didn’t exactly have a good runup to the French Open. In fact, her groundwork for the second major tournament of the year was snagged by a spate of injuries that, among other things, compelled her to retire at the Madrid and Italian Opens. Still, she remained confident in her capacity to at least live up to her standing as the 13th seed. Even as she failed to do better than reach the quarterfinals twice in 11 previous stints at Roland Garros, she believed that all her hard work would pay off; if nothing else, it’s how and why she claimed the Australian Open last year.

Sicilian assault

Ivory Coast Rapid Abidjan, Ivory Coast May 8-10, 2019
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Peso drops on positive US data

THE PESO declined slightly against the dollar on Wednesday, dragged by upbeat consumer sentiment data in the United States as well as persistent risk-off sentiment due to the trade war between the US and China.

PHL shares climb on bargain hunting after slump

SHARES rose on Wednesday as investors went bargain hunting after several days of losses.