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Empowering innovation

The EY Entrepreneur Of The Year 2024 Philippines has concluded its search for the country’s most visionary leaders shaping opportunities and transforming industries. It is a program of the SGV Foundation, Inc., with co-presenters: the Asian Institute of Management, the Department of Trade and Industry, the Philippine Business for Social Progress, and the Philippine Stock Exchange.

George T. Barcelon
Chairman & President
Integrated Computer Systems, Inc.

IN THE RAPIDLY evolving world of technology, George T. Barcelon, the chairman and president of Integrated Computer Systems, Inc. (ICS), has used his leadership, vision and a deep understanding of the industry’s complexities to lift ICS to new heights.

He recalled working at his family’s rubber and plastic manufacturing company that made plastic sheeting and foam materials for footwear.

Mr. Barcelon graduated with a degree in chemical engineering from De La Salle University. Despite being a chemical engineer, he said he also had an interest in electronics and was exposed to early programming while in college.

“I read a lot of computer magazines which had all these advertisements. I saw the fast pace of development coming in the IT field,” he said.

Realizing the IT industry was growing fast because of the technology needed by public and private companies, he entered the computer business in 1978 and founded ICS to provide IT solutions.

One of the first major milestones if ICS was being appointed as one of the value-added resellers of an American multinational technology company in the Philippines. As ICS grew bigger, the company attracted other global technology partners.

ICS is a pioneer in the microcomputer industry in the country. Over the years ICS kept adding to its portfolio of IT solutions and now offers a wide range of technology solutions, including edge computing, core infrastructure, and cloud services, aimed at helping businesses build, grow, and transform their operations.

ICS is known for its commitment to providing high-quality IT support and professional services and has evolved into a Systems Integrator and Managed Service Provider, having entered into strong partnerships with global technology brands.

ICS caters to a broad clientele, including many of the Philippines’ top 1,000 corporations, and is recognized for its professionalism and reliability. Its success has been made possible by its relentless pursuit of staying up-to-date and well-equipped with the latest developments in the tech world.

ICS strives to help organizations stay ahead of the curve by leveraging next-generation technology to future-proof their digital transformation efforts.

Recognizing that the success of ICS centers on the skills and dedication of its team, Mr. Barcelon said he places a strong emphasis on an ecosystem of professionals that work towards a single goal of servicing the digital transformation that their clients need.

He said he always wants to invest in people because they are the most important aspect of the company, encouraging collaboration and input from the team.

“We are a knowledge company. I believe that in business, it’s a continuous learning process,” he said.

ICS creates opportunities and careers for its employees.

Even if artificial intelligence (AI) will be the next big technology, Mr. Barcelon said he thinks there will still be a lot of human intervention. The company trains, accredits, and enables local talent to become globally competitive. Employees go through accreditation courses such as IT Infrastructure Library (ITIL).

Always thinking ahead, Mr. Barcelon has made sure ICS supported remote work and digital transformation, showcasing its resilience during the coronavirus disease 2019 (COVID-19) pandemic. ICS played crucial roles in projects like providing IT infrastructure for the Philippine Space Agency and supporting a major bank’s digitization efforts, ensuring minimal disruption.

Mr. Barcelon has committed to an inspiring vision for ICS, aiming for a technologically advanced and inclusive society. Aside from ICS, he is the chairman of the Philippine Chamber of Commerce and Industry (PCCI) and is also involved with the Legislative-Executive Development Advisory Council (LEDAC) where he advocates for policies enhancing Philippine business competitiveness, streamlining processes, promoting ease of doing business, digital evolution, and economic recovery. 

As Mr. Barcelon looks to the future, his vision for ICS is to continue pushing the boundaries of technology, delivering exceptional value to clients, and making a positive impact on society.

“Sustainability is all about looking forward,” he said. “There are always so many new things coming out, and especially in the Philippines, there are really some areas that can be opportunistic. You just have to be committed and willing to learn.”

Media sponsors are BusinessWorld and the ABS-CBN News Channel. Gold sponsors are SteelAsia Manufacturing Corp., Uratex, and Converge ICT Solutions, Inc. Silver sponsor is International Container Terminal Services, Inc. Bronze sponsor is Lausgroup Holdings, Inc. Banquet sponsors are Robert Blancaflor & Groups, Inc., Bounty Fresh Group Holdings, Inc., and Vista Land & Lifescapes, Inc.

The winners will be announced on Oct. 23, 2024. The EY Entrepreneur Of The Year 2024 Philippines will represent the country in the World Entrepreneur Of The Year 2025 in Monte Carlo, Monaco in June 2025. The EY Entrepreneur Of The Year program is produced globally by Ernst & Young (EY).

First Echelon Philippines event held last September

Echelon Singapore follows next year at Suntec Exhibition & Convention Centre

Setting a high benchmark for tech and startup events in Southeast Asia, the first-ever Echelon Philippines 2024, organized by e27 in partnership with Brainsparks, welcomed over 2,500 attendees, featured 90 insightful speakers, hosted 40 exhibitors and 15 startup showcases, and delivered 38 content sessions over two action-packed days.

Supported by 10 sponsors and 55 partners, Echelon Philippines proved to be a remarkable platform for innovation, collaboration, and growth in the Philippine tech ecosystem, all aligned with Echelon’s goal to support and empower the fastest emerging tech market in the world.

One of the event’s key highlights was the Startup Pitch, where end-to-end digital energy solutions platform SolX was crowned the champion. The Startup Pitch is designed to spotlight Filipino innovation, showcasing the most promising up-and-coming startups in the Philippines through exhibitions, onstage pitches, and more. By offering these startups a platform to present their groundbreaking solutions, Echelon Philippines provided the first opportunity to discover up-and-coming startups and a powerful avenue for investors and corporates to kick-start startup collaborations.

Attendees had the opportunity to hear from influential speakers, including Angeline Tham, CEO and co-founder of Angkas; Danielle Cojuanco-Abraham, co-founder and CEO of Zed; Alan Cheah, country general manager for Malaysia and Philippines of CARSOME; Jojo Malolos, CEO of PayMongo; Wai Hong Fong, chieftain and founder of StoreHub; and ER Rollan, CEO and co-founder of Growsari. Their insights focused on digital transformation and the future of the Philippine tech ecosystem, highlighting key areas for investment and growth. These discussions made for dynamic and impactful sessions, showcasing where the next big opportunities lie for startups and investors.

“One of our long-standing goals has been to bring a world-class tech and innovation conference to the Philippines, showcasing the best of our ecosystem to the global stage. Partnering with e27 to launch the first-ever Echelon Philippines has made that vision a reality, and the energy and participation from the Philippine tech community truly exceeded expectations. I’m excited to see how the connections and collaborations sparked here will shape the future of innovation in the country and beyond,” said Artie Lopez, co-founder of Brainsparks.

“This partnership with Brainsparks to bring Echelon to the Philippines has been a significant journey to create a platform that champions local innovation and foster meaningful collaborations in the tech ecosystem,” said Thaddeus Koh, co-founder and head of events at e27. “It’s through partnerships like this that we can continue to empower the next generation of Filipino innovators. Echelon Philippines just marks the beginning of the potential that arises when local innovators and regional leaders unite.”

As the momentum builds from Echelon Philippines 2024, anticipation is already rising for Echelon Philippines 2025, which promises to be even bigger and more impactful slated to happen in September next year. With growing support from the local and regional tech ecosystem — and continuing its partnership with Brainsparks — Echelon Philippines 2025 will continue to elevate innovation and entrepreneurship in the Philippines, connecting more startups, investors, and thought leaders.

Carrying this forward and as announced during Echelon Philippines 2024, Echelon Singapore 2025 is gearing up for its own milestone, taking place on June 18-19, 2025. For the first time ever, the event will be hosted at the iconic Suntec Singapore Convention & Exhibition Centre in the heart of Singapore’s Central Business District. This new venue offers unmatched accessibility, with convenient transport links, a wide array of accommodations, and everything attendees need within walking distance.

The move to Suntec represents a major leap forward for Echelon Singapore, providing a larger, more dynamic space for exhibitions, networking, and content sessions. Following the incredible success of Echelon Philippines, Echelon Singapore 2025 will feature specialized zones, including AI, SaaS, Fintech, and more, creating an unparalleled opportunity for startups, investors, and tech leaders to engage and scale globally.

For partnership and exhibition opportunities, visit https://e27.co/echelon/singapore/ or contact e27 at https://e27co.e27.co/2gsr.

Summit gathers NCR-based techno hubs to further strengthen startup ecosystems

The 2024 National Capital Region Technology Business Incubation (NCR TBI) Summit, set on Oct. 10 and 11 at the Novotel Araneta Center in Quezon City, will bring together NCR-based TBIs to discuss the most important issues and solutions that will further strengthen startup ecosystems in the region.

Themed “Urban Prosperity Unleashed,” the event will be hosted by the Strategic and Collaborative Alliance for Leveraging Ecosystem of Startups-NCR (SCALE NCR) of which Miriam College, through its MC-Technology Business Incubation (MC-TBI), is currently the lead institution.

SCALE NCR is a consortium comprised of eight TBIs based in the region and funded by the Department of Science and Technology-Philippine Council for Industry, Energy and Emerging Technology Research and Development (DoST-PCIEERD) that provide workspaces, technology services, funding, and mentorship, among other support, for promising technopreneurs and startup owners so they can jump-start their ventures.

“This summit provides a venue for members of our consortium to discuss ways on how to become more efficient in supporting startups by way of sharing resources, specifically human resources, talent, equipment, facilities, and funds,” says Maria Cristina L. Ibañez, president of SCALE NCR and innovation resource manager of Miriam College-Henry Sy, Sr. Innovation Center, under which MC-TBI is housed. Miriam College has been incubating startups, especially those that are women-led, since 2018.

Also expected to attend the summit are academic institutions, startup owners, innovators, private organizations, and key government innovation agencies that are leading the way in boosting an ecosystem of technology and innovation for startups and micro, small, and medium enterprises in NCR. Among these lead government agencies are the DoST NCR and DoST-PCIEERD.

Now on its second year, the summit aims to provide an overview of TBIs and the growth of startup ecosystems in the region and address the challenges it faces. It will also discuss the NCR Startup Mapping and Roadmap as TBIs strengthen the ecosystem support through policies and programs. It will cover topics on how to better support startups and MSMEs, bridge the gaps in innovation through education, and develop an NCR-specific startup ecosystem. Workshops relating to funding, research and development, and building a TBI network will also be held throughout the two-day event.

Keynote speakers include DoST-PCIEERD Executive Director Dr. Enrico Paringit, and DoST NCR Regional Director Romen Tresvalles. The Metropolitan Manila Development Authority, Department of Trade and Industry, and Department of Information and Communications Technology are also part of the event.

The summit is part of efforts by the DoST and other lead government agencies to strengthen the regional startup ecosystems to help the Philippine economy, develop investable startups, and boost the Philippines’ startup ecosystem ranking which is currently at 60 out of 100 countries worldwide.

In 2023, the DoST allotted P120 million through the Regional Startup Enabler for Ecosystem Development (ReSEED) Program to support regional TBIs all over the country.

KMC Startup Awards 2024 to spotlight top emerging businesses in the country

The spotlight on excellence and innovation in the Philippines’ startup ecosystem grows brighter as KMC Solutions, a leading provider of flexible office space solutions, holds the second edition of the KMC Startup Awards this year.

The KMC Startup Awards honor pioneering businesses and visionary entrepreneurs reshaping the Philippine business and technology landscape.

Winners will be selected from 10 business categories and announced at a gala awards event in November 2024. Categories include Startup of the Year, Emerging Leader of the Year, Innovative Product of the Year, Innovation in Marketing Award, Tech Innovator Award, Customer Excellence Award, Social Impact Award, and Sustainability Award.

This year’s event introduces two new categories, the Growth Champion Award and the Best Newcomer Award, to recognize businesses making significant strides in their industries.

In addition to industry recognition, winners will gain exposure, credibility, and access to valuable business development opportunities.

The first-ever KMC Startup Awards, held in November 2023, attracted over 200 submissions, and this year’s event is expected to draw even more interest from innovators across the country. Notable previous winners included sari-sari store enabler Packworks (Startup of the Year), digital bank GoTyme Bank (Tech Innovator Award), and Sprout Solutions CEO Patrick Gentry (Emerging Leader of the Year).

Nominations for this year’s KMC Startup Awards opened until Oct. 3.

As a pioneer in flexible and affordable office solutions, KMC Solutions has remained steadfast in nurturing startups and fostering growth through innovative facilities and events.

NexHire to hold tech career fest on Oct. 10

Talent solution NexHire is set to pioneer the first tech-centered career fest in Metro Manila, designed for digital nomads and career shifters navigating the Philippine tech industry. Set to take place on Oct. 10 at KMC in Podium West Tower, “Future Forward: Tech Career Fest” will feature engaging fireside chats, hands-on skill workshops, and a diverse array of booths showcasing tech job opportunities, bootcamps, and upskilling programs.

Themed “From Roots to Global,” the career fest celebrates the Filipino value of kapwa, emphasizing shared identity and mutual respect within the community. By embracing this principle, the event aims to foster an inclusive, forward-thinking environment where Filipinos can showcase their skills and passions in the tech world.

“We’re honored to provide a platform for individuals to be introduced to the tech industry,” said NexHire CEO Ritch Traballo. “This fest is not just about showcasing tech opportunities but also about building a local community of future-ready builders and creators.”

Future Forward: Tech Career Fest is proudly supported by prominent organizations in the local tech ecosystem, including Ideaspace Foundation, QBO Innovation, La French Tech Manila, Eskwelabs, Web3 Metaversity and more.

Register for the event at https://lu.ma/k9req72y.

P2P car-sharing platform DOON raises US$1.5-M pre-seed funding

DOON, the first fully insured peer-to-peer car-sharing platform in the Philippines, has secured investments totaling US$1.5 million to complete its pre-seed funding round.

The total raise has been structured with both debt and equity instruments. The US$500,000 raised in equity drew funding from a syndicate of angels and a number of domestic and foreign family offices of former tech founders who have exited hailing from the Philippines, Singapore, and Taiwan.

The equity portion of the raise allows DOON to further develop its web marketplace and enhance its current mobile online car-sharing platform while strengthening its team with key hires in finance, operations, and technology to prepare for and bolster the company’s rapid traction ramp-up.

“We’re grateful for the strong signal of support and belief from our new investors in our business model and ability to execute,” shares DOON CEO and Co-Founder Enrique Hormillo. “With the funding, we will be able to focus on creating the best user experience for our customers by deeply enhancing our digital platforms, strengthening our brand presence, doubling-down our operations in prominent city and tourist destinations, and expanding our product offering.”

A pioneer in the peer-to-peer car-sharing space in the country, DOON is partnered with Pioneer Insurance to provide comprehensive coverage for every car booking, protecting users who list their cards on the platform.

COO and Co-Founder Miguel Locsin shares that the team is trying to change car-owners’ attitudes towards their cars.

“They can be assets that generate income,” said Mr. Locsin, “and we are providing Hosts a way to do this that manages their risk while giving the Guests a convenient way of getting around, not just in major cities, but in the provinces too.”

As a portfolio company of AHG Lab, an independent venture studio in the Philippines, DOON received its first funding from the studio and support on its technology development, back-office admin and accounting, marketing, and long-term financial strategies.

“We’re quite excited for the team of Mr. Hormillo, with his decade-long experience in the automotive industry, and Mr. Locsin with his seasoned tech platform operator experience, as they have now built up significant capital to execute DOON’s exciting growth plans,” shares AHG Lab CEO and Co-Founder Rene Cuartero. “Their background and experience as the right team to bring this solution forward truly shine through as they also receive government support through the Philippine government’s DoST-TECHNiCOM grant.”

An additional debt facility of up to US$1 million that completed the round was signed by Esquire Financing, a subsidiary of Fuel Dreams Holding which also took a stake in the equity portion of the raise.

Aboitiz group keen on Davao airport

BW FILE PHOTO

THE ABOITIZ group has expressed interest in managing and operating Davao International Airport, signaling its continued expansion in the airport management sector.

“We are looking into it, depending on the terms. It depends on how it comes out,” Aboitiz Equity Ventures, Inc. (AEV) President and Chief Executive Officer Sabin M. Aboitiz said on the sidelines of a Cebu Pacific event last week. AEV is the listed holding company of the Aboitiz group.

This follows the recent success of Aboitiz InfraCapital, Inc., the infrastructure arm of the Aboitiz group, in securing the contract for Laguindingan International Airport in Northern Mindanao.

Mr. Aboitiz said the company is waiting for the government to issue the terms of reference, as it wants the auction for modernizing and operating Davao International Airport to follow a solicited process.

“The government said they decided to do it via solicited (scheme). They are not accepting unsolicited offers now,” Mr. Aboitiz said.

In September, the Department of Transportation (DoTr) said a conglomerate had expressed interest in submitting an unsolicited proposal to manage and operate Davao International Airport.

Transportation Secretary Jaime J. Bautista declined to name the company, explaining that it had not yet submitted its formal proposal.

Mr. Bautista said Aboitiz InfraCapital will sign the concession agreement for the operations and maintenance of Laguindingan Airport within this month, while the company is expected to take over next year.

Further, the DoTr expects to award the contract for the New Bohol-Panglao International Airport within the year, with the Swiss challenge deadline set for Nov. 11.

The Swiss or comparative challenge allows other companies to submit alternative proposals to a project, with the original proponent having the right to match them.

Valued at P4.5 billion through a public–private partnership scheme, this project is expected to serve approximately 3.9 million passengers per year once completed.

The Aboitiz group secured in 2018 the original proponent status for the New Bohol-Panglao International Airport’s operations and maintenance (O&M) under a 25-year concession period.

Asked whether other companies have submitted their proposals for the Bohol airport, Mr. Bautista said that to date, no companies or other parties have expressed their interest.

The Aboitiz group also manages and operates Mactan-Cebu International Airport after finalizing a deal with Megawide Construction Corp. and GMR Airports International B.V., allowing it to acquire shares in GMR-Megawide Cebu Airport Corp., the company behind the Mactan-Cebu International Airport. — Ashley Erika O. Jose

How Lanson Place in Pasay benefits from strategic location

MICHAEL HOBSON

By Aubrey Rose A. Inosante, Reporter

LANSON PLACE Hospitality Management Ltd. (LPHM) is confident in the demand for meetings, incentives, conferences, and exhibitions (MICE) facilities at its newly opened property in Pasay.

“I think our MICE demand is good, and our facilities there are good. It’s a good mixture of local MICE business and regional. Our facilities are heavily utilized,” Michael Hobson, chief executive officer of LPHM, said in an interview with BusinessWorld.

The first Lanson Place in the Philippines opened last April in Pasay, featuring a 390-key hybrid hotel and residences, in partnership with SM Hotels and Conventions Corp. (SMHCC).

Mr. Hobson said the firm works with the SM group to attract MICE events to Pasay and share accommodation demands.

Lanson Place Mall of Asia has a strategic location and benefits from being 15 to 20 minutes away from the airport, Mr. Hobson noted.

With the pandemic having previously dampened international travel due to restrictions and closures, hospitality firms are now trying to bounce back.

The official opening of Lanson Place Mall of Asia was postponed due to the pandemic, causing construction delays from obtaining materials and the availability of workers.

However, Mr. Hobson expressed confidence in the growth of the Lanson Place property in Pasay as it receives local weekend demand from the leisure sector, particularly from families and more.

He said the Filipino hospitality sector remains strong, benefiting from a “natural fun-loving hospitable attitude” and the widespread ability to speak English, which appeals to many overseas visitors.

Mr. Hobson added that “some of the best guest service in the world can be found in the Philippines.”

“Lanson Place is a small hotel company but with key resources spread over just a few properties. We are specialists in extended stay business which has enabled us to perfect the art of getting to know our guests well and creating communities,” he said.

This management style reflects his over 40 years of hospitality experience, starting from hotel and catering school in Sussex in the late 1970s. One of his first jobs was as a sales trainee for the industrial catering division of Grand Metropolitan in the UK.

“I came to Hong Kong from Singapore in 1985. In 1987, I joined Shangri-La Hotel company and worked for the Kuok family when it used to be a private company,” said Mr. Hobson, who is now based in Hong Kong.

He later joined several firms, including Omni Hotels Asia-Pacific, and previously the Mandarin Oriental Hotel Group in 1994.

“It wasn’t until my retirement from Mandarin Oriental that this opportunity to come and run Lanson Place Hotel Management Co. Ltd. emerged and started after literally a three-day break, in January 2019,” he said.

WORKFORCE
Mr. Hobson, a seasoned hotelier, said that the industry is finding it increasingly difficult to recruit individuals who are willing to serve others and pursue a career in hospitality.

“It’s a tough industry. The ability to [engage] customers [for] their feedback, the interaction that one has, the degree that you have to go to in order to create that word of mouth,” he said.

The industry must inspire young people to pursue hospitality careers, as many hoteliers struggle to recruit for positions that were once highly desired.

Mr. Hobson emphasized that hotel general managers must hire the right people and ensure a satisfactory return to the owner by investing in critical areas and controlling costs.

Lanson Place also aims to enhance its sustainability practices by working with partners like NORDAQ for its overseas properties, eliminating single-use plastics, and using refillable glass bottles bottled on-site.

“When you’re doing the contracting with some of these multinationals unless you can demonstrate your sustainability practices, they won’t include you in their programs,” he said, adding that some choose the locations of their conference based on the hotel’s sustainability measures.

Mr. Hobson added that the company is working towards securing a Green Key certificate. The Green Key certificate is a standard in the field of environmental responsibility and sustainable operation within the tourism industry.

This certificate represents a commitment by businesses that their tourism establishments adhere to the strict criteria stipulated by the Foundation for Environmental Education, which promotes sustainable development through environmental education.

Hans Sy of SM Prime Holdings honored with 2024 PRA President’s Award as ‘Retail Development Visionary’

Hans Sy of SM Prime Holdings

The Philippine Retailers Association (PRA) proudly presented Hans Sy, chairman of the executive committee of SM Prime Holdings, with the 2024 PRA President’s Award, honoring him as the “Retail Development Visionary.”

This prestigious award was a highlight of the Outstanding Filipino Retailers (OFR) Awards Night, held last Sept. 25 at Solaire Resort North. The award celebrates individuals who have significantly contributed to the advancement of the Philippine retail industry.

Mr. Sy’s visionary leadership at SM Prime Holdings has played a pivotal role in transforming the retail landscape of the Philippines. Under his guidance, SM Prime has developed 86 malls across the Philippines and eight in China, encompassing an impressive 8,180,379 square meters of gross floor area (GFA) and 5,525,870 square meters of gross leasable area (GLA). These retail developments have become vibrant commercial hubs, hosting 17,138 tenants with long-term lease agreements and 7,239 units with short-term leases, significantly contributing to economic growth and job creation.

“We are delighted to recognize Mr. Hans Sy for his exceptional achievements and his invaluable contributions to the retail industry,” said Bobby Claudio, president of the Philippine Retailers Association. “His visionary leadership, coupled with his dedication to innovation and sustainability, has set a new standard for retail development in the Philippines.”

Mr. Sy’s commitment to innovation, sustainability, and modernization has not only enhanced the retail experience for millions of Filipinos but has also set new industry standards. His efforts have created a remarkable multiplier effect, driving progress across the nation and influencing the broader economy.

Looking ahead, Mr. Sy’s vision of reaching 100 SM malls by 2027 continues to set the bar for retail development in the country. His legacy is one of inspiration and aspiration, marked by a relentless pursuit of excellence that has positively impacted the lives of countless Filipinos.

Over the years, the PRA has recognized 15 retail luminaries with the PRA President’s Award, honoring their extraordinary achievements and invaluable contributions to the industry. Mr. Sy’s recognition in 2024 adds to this legacy of excellence, underscoring his monumental contributions to both the retail sector and the national economy.

As the PRA celebrates this achievement, it reaffirms its commitment to supporting and acknowledging those who, like Mr. Sy, embody the spirit of innovation and leadership that propels the retail industry forward.

Nickel Asia, SSI Group among new Shari’ah-compliant securities

BW FILE PHOTO

SHARI’AH-COMPLIANT securities increased to 56 from 49 after adding eight and removing one following a quarterly review ending Sept. 25, the Philippine Stock Exchange (PSE) said.

The updated list includes APC Group, Inc., Lodestar Investment Holdings Corp., and Marcventures Holdings, Inc.

Also added were Nickel Asia Corp., SSI Group, Inc., and NexGen Energy Corp.

The updated list also saw the inclusion of Metro Alliance Holdings and Equities Corp. “A” and “B.”

Meanwhile, Easycall Communications Philippines, Inc. was removed.

The PSE issues the updated list of Shari’ah-compliant securities every quarter.

The previous list was released on July 5, covering the period ending June 25, 2024.

Shari’ah is the moral and religious code of Islam that covers rules, regulations, teachings, and values governing the lives of Muslims.

The PSE’s quarterly review is conducted by Islamic finance information provider IdealRatings, Inc., which looks at the companies’ adherence to Shari’ah standards in terms of their business activities and financial ratios.

IdealRatings examines listed companies in accordance with Shari’ah standards under the Accounting and Auditing Organization for Islamic Financial Institutions.

Under the business screening, the income of companies derived from activities such as adult entertainment, alcohol, cinema, defense & weapons, financial services, gambling, gold and silver hedging, interest-bearing investments, music, pork, and tobacco must be less than 5%.

In terms of financial ratio screening, a company’s cash or interest-bearing deposits or investments should not exceed 30% of its market capitalization, while its interest-bearing debt should not go beyond 30% of its market capitalization.

“Shari’ah-compliant investment instruments create a mechanism for listed companies to gain access to potential funding from Islamic investors, including those in countries in the Middle East and other countries with high Muslim populations such as Malaysia and Indonesia,” the PSE said. — Revin Mikhael D. Ochave

Weaving the future: Likhang Habi highlights natural dyes in Philippines

ENTRIES in the abaca piña competition

By Giselle P. Kasilag

WEAVING is one of the most ancient traditions common to all civilizations. The history of the world is written in the threads and expressed in the patterns.

While the method may be old, HABI: The Philippine Textile Council is confident that weaving is where our future lies. The process may have remained largely unchanged but many innovations have been developed that are putting the spotlight back on Philippine textiles. Thus, there is much excitement for this year’s Likhang Habi Market Fair, happening at the Glorietta Activity Center from Oct. 18 to 20.

“Our theme this year is ‘Earth to Loom: Celebrating Natural Dyes in the Philippines,’” announced HABI president Mia Villanueva at a press conference. “We try to think of issues and things that affect the Philippine textile industry, and one thing we thought of recently is to put this in the forefront because, usually, what people use is chemical dyes.”

The council is encouraging the use of natural dyes which are more sustainable for the industry and better for the environment. But the risks brought about by deforestation, unbridled land development, and climate change are all infringing on the wealth of plant life used in dying threads and textiles. If unchecked, they threaten the range of colors should certain plants cease to be available to weavers.

The relationship between the weaver, the industry, and the environment could not be more direct. The challenges faced by one are also devastating to the others. Thus, for the industry to thrive, care for the weaver and planet are essential.

Now on its 14th year, the fair features weavers and artisans from all over the country, highlighting the richness and diversity of local textiles. What began in 2009 with 12 booths now boasts of 100 booths with 90 vendors — each one handpicked by the council to ensure the quality, sustainability, and the use of appropriate practices in the industry. Sixty-three are from Luzon, 11 are from the Visayas, and 16 from Mindanao.

“We really vet the people to make sure that it’s authentic,” said Ms. Villanueva. “We really meet with them. A lot of them have been our partners for years and they keep coming back. It’s like a progression. For the new ones, we go on trips. We visit them so that we’ll see their operations. We go to them to start a relationship. They are also invested in that relationship with us. So we can vouch for them.”

Among the most-awaited events of the fair are two competitions: the 7th Lourdes Montinola Piña Weaving Competition and the 3rd Eloisa Hizon-Gomez Abaca Weaving Competition. These two events encourage innovations in terms of methodology, use of materials, and creation of patterns that keep the industry fresh and moving forward. The entries will be on display at the fair.

“The stunning thing about this competition is that they would also revive old techniques of weaving and making textiles which they have stopped doing because nobody wanted it, there was no interest. But with this competition, all of these are starting to come out now so we are able to document it as well. It is very encouraging,” said Adelaida Lim, HABI president emeritus.

She added that the council has also observed a growing interest among the younger generation to continue the craft. It’s not just old ladies who are weaving, she noted. The council offered a special prize for weavers under 30 years old and were surprised with both the volume and quality of entries which now gives them confidence about the future of weaving and textiles in the country.

While the future seems bright, Ms. Villanueva said there is so much still to be done. When asked if there exists a registry of weaves which is essential in protecting the intellectual property of the weavers and their communities, as well as the integrity of the product, she admitted the council does not have one. While there is much documentation of the various communities and their indigenous weaves and patterns, she has not seen a consolidated list that the industry can use as a reference.

For their part, she told BusinessWorld that the council has begun a basic mapping of the different weaves and their origin regions. But this is a rudimentary effort and will have a long way to go before a registry is realized — a project that she hopes the government will undertake to benefit all the stakeholders. For now, the council is doing the best it can to visit and document as many weavers and weaving communities they can reach.

This also puts in focus the role of HABI and the Likhang Habi Market Fair in the development of the industry. The event is not just for shopping or fashion. It is about the preservation of a cultural heritage that has been passed on for centuries and continues to have relevance in the lives of the people.

“When we started, I didn’t know anything,” acknowledged HABI founder and chairman emeritus Maria Isabel Ongpin. “All I knew was that Philippine fabrics were unique, colorful, and varied. And they’re part of our identity as Filipinos and should be preserved. One of the first things that we did was to raise consciousness about not haggling them to the bottom. Don’t make them barat! They are weaves that you cannot do, that are done by artists, so stop this haggling! The second thing is that we learn from our weavers. The weavers also learn from us. The main thing is, let us preserve, develop, and modernize our textiles.”

Indeed, the future or the textile industry appears to be as colorful as the fabrics that they weave. And with the right education, the market is now realizing the value of every thread, every knot, and every interlacing of yarns that make up the fabric of our culture.

Steel plant in Sarangani seen to start production in Q4 2025

PIXABAY

CHINESE steel company Panhua Integrated Steel, Inc. is expected to start production at its $1-billion steel facility in Sarangani Province in the fourth quarter (Q4) of 2025, according to the Alsons group.

Occupying 40 hectares inside the Kamanga Agro-Industrial Ecozone Development Corp. (KAiEDC) — a subsidiary of Alsons Consolidated Resources, Inc. — in Barangay Kamanga, Maasim, Sarangani Province, the steel plant is eyeing a production output of about two million metric tons annually, according to Alsons.

KAiEDC is accessible to key ports, namely, Makar Wharf, GSC International Airport, and GS Fishport Complex. Its key locators are Sarangani Energy Corp. and Panhua Integrated Steel.

“It would bring in a lot of skilled people such as engineers, it would downstream industries, it will ensure quality and reliable construction materials, which we don’t have to import anymore. It will drive competition, wherever there is competition, who wins? It’s the consumers,” Alsons Development and Investment Corp. President and Chief Executive Officer Miguel Rene A. Dominguez told BusinessWorld.

He added that when fully operational, the steel plant is expected to generate P200 million in income for Sarangani.

During its construction phase, the plant will employ about 2,000 workers at the peak of its activities. Currently, the construction is ongoing and is about 41% complete.

The steel plant is expected to create 700 permanent jobs once operational and provide numerous employment and related opportunities through its downstream industries, suppliers, and allied service providers.

Mr. Dominguez said that Alsons recently completed its 15-megawatt run-of-river hydroelectric power plant at the Siguil River basin in Maasim, Sarangani Province.

He also noted that Alsons plans to build solar facilities. — Maya M. Padillo