Rules for distributing RCEF farm mechanization funds due soon

June 17, 2019 | 12:06 am

THE Philippine Center for Postharvest Development and Mechanization (PhilMech) said it will finalize after a key meeting this week the guidelines for funding the farm mechanization component of the Rice Competitiveness Enhancement Fund (RCEF).

“Magmi-meeting pa sa (There will be a meeting on) June 18. We’re just waiting for that then afterwards firmed up na ‘yung gagawin namin base doon sa (what we plan to do will be firmed up based on the) suggestions ng (of the) Program Streering Committee sa (at the) Department of Agriculture,” Rodolfo P. Estigoy, head of the applied communications division of PhilMech, told reporters.

“Ine-expect namin ‘yung pondo (We are expecting the fund) by end of June,” he said.

RCEF is funded by rice import tariffs that will be imposed on private-sector importers, who will be allowed to import the grain from selected Southeast Asian countries more freely. The importers also have the option to source grain from selected other countries but at a higher tariff.

The RCEF, worth about P10 billion a year, is authorized to allocate P5 billion for the mechanization of rice farms, P3 billion for high-yield rice seed, P1 billion to expand farm credit, and P1 billion to support agricultural extension and upgrade rice farmers’ planting knowhow.

The guidelines cover the identification of 1,200 beneficiary municipalities in 16 regions, which were further grouped into six clusters to facilitate the deployment of farm equipment over the next six years. Each of these municipalities are required to have farmer organizations with at least 100 hectares of irrigated rice land.

Major rice producing areas will be prioritized, including Cagayan Valley, Central Luzon, Central Visayas, and Soccsksargen.

He said the first phase of distribution involves land preparation equipment with harvesters to come later.

A full package for beneficiaries includes machinery for land preparation, crop establishment, harvesting and threshing, drying, and milling.

Initial distributions are expected by December.

Some P100 million has also been set aside for training on the use of the equipment and upgrading farmers’ skills.

At the end of six years, the cost of rice production is expected to drop because of the upgrades been reduced.

The cost of producing a kilo of palay, or unmilled rice is estimated at P12.72 per kilo, against the cost in Vietnam of about P6.22 and in Thailand of P8.86.

Meanwhile, Mr. Estigoy said that the Department of Budget and Management (DBM) also approved of an additional 59 staff in the PhilMech headcount, in the hope that new hires can be deployed to the regions by July. — Vincent Mariel P. Galang

Toyota returns to Clark for more inclusive Vios Racing Festival

June 17, 2019 | 12:06 am

TOYOTA MOTOR Philippines (TMP) brought its premier motorsports program back to its roots at the Clark International Speedway in Pampanga, with the staging of the Vios Racing Festival last July 8.

The Vios Racing Festival saw veterans and new faces meeting from the tracks up to the podium, with celebrities, racing teams, and car club members, Toyota owners, and motoring media taking it pedal-to-the-metal in two exciting formats: Autocross Challenge and Circuit Championship.

The Autocross Challenge is a timed competition wherein drivers navigate through an obstacle course one at a time; while the Circuit Championship is the classic format wherein all drivers are simultaneously competing against each other during laps — all using the One-Make Race (OMR) edition of the latest Toyota Vios.

The OMR Vios racecar has been modified for optimum handling and performance given the two different racing formats.

“Today, we witness the first leg of the Vios Circuit Championship. This event will be the first time that the all-new Vios One Make Race model is going to be tested at the circuit tracks since its appearance as the official pace car in Filinvest, Alabang last 2018. I hope that you are all as thrilled as I am to see the All-New Vios in action,” said TMP President Satoru Suzuki as he formally opened the competition.

Incidentally, the Vios Racing Festival also became the venue for car fans and motorsports enthusiasts to have a surprise sneak peek of the new Toyota Supra in action. Suzuki personally drove the highly-anticipated Supra on the speedway to the delight of the event attendees.

“As our way of saying ‘thank you’ for coming all the way here at the Clark International Speedway, I am very honored to announce that you are now among the first in Southeast Asia to see the 2019 Toyota Supra in the metal,” said Suzuki.

This year, there are three categories for the Vios Circuit Championship: Sporting Class, Promotional Class, and Celebrity Class — participated in by a total of 22 racers.

For the Celebrity Class, fans and spectators saw Vios endorser Gerald Anderson racing with Chie Filomeno, Gretchen Ho, Daniel Matsunaga, Aubrey Miles, and Troy Montero. Former celebrity racer Fabio Ide advanced to the Promotional Class.

For the Autocross Challenge, Toyota continued its push for a more inclusive and accessible motorsports program by inviting Toyota owners — even those with no prior racing experience — to join the online contest via its official Facebook account. Winners were given a chance to be part of more than 50 Autocross racers who experienced the power and performance of the OMR Vios race car.

And just like Toyota’s past racing programs, the Vios Racing Festival is open to everyone who wants to watch the races and join the side activities — with no admission fees.

Here’s the list of winners from the Vios Racing Festival Autocross Challenge and Circuit Championship races:

The Toyota Vios Racing Festival is held in cooperation with Bridgestone; supported by Petron, Motul, and Rota; and other sponsors Brembo, Denso, AVT, 3M, OMP, and Tuason Racing. TMP’s premiere motorsports program is also supported by: Toyota Gazoo Racing, Toyota Racing School, and Toyota Racing Development.

The Vios Racing Festival will return to the Clark International Speedway for the second and third leg of the Circuit Championship in August and November, respectively.

For more updates on Toyota events, visit TMP’s official website at www.toyota.com.ph and follow the official Facebook page at www.facebook.com/ToyotaMotorPhilippines.

Luxasia to bring in more brands

June 17, 2019 | 12:06 am

By Zsarlene B. Chua
Reporter

SINGAPORE-BASED beauty distribution company, Luxasia Pte. Ltd., has named the Philippines as a potential “growth pillar in the Asia Pacific region in terms of global beauty sales,” according to the company’s chief executive as the company unveils regional expansion plans and introduces more brands to its Philippine portfolio.

“The Philippine luxury market grew by 40% between 2013 and 2018 and most of them belonged to domestic sales,” Wolfgang Baier, Group CEO, told the media during a roundtable on June 11 at the Manila House, Bonifacio Global City, Taguig.

“The country is growing overall, the beauty market is growing overall. I mean it’s socially and digitally-driven so I think that the sky’s the limit… I know it’s only growth ahead… [the luxury beauty market in the Philippines] is posed to explode and I think it’s ripe for both luxury and edgy brands,” he explained.

NEW BRANDS COMING IN
Luxasia currently distributes 140 brands to 15 countries in the Asia Pacific region, but only a third of the company’s brands are available in the Philippines because while the country is posed for consistent growth, it is “a difficult market with complex regulations and a very fragmented consumer landscape and it needs a very localized approach,” Mr. Baier said in a press release.

The Asia Pacific region, which accounts for 51% of global beauty sales, has been growing at 6% annually since 2014 and is projected to outpace the rest of the world, according to Mr. Baier.

Luxasia pegged the Philippines’ premium beauty market to be worth P11.5 billion currently.

Among the brands the company distributes here are Bvlgari, PeterThomasRoth. Shiseido, Calvin Klein, Chloe, Dolce & Gabbana, and, more recently, Korean beauty brands like Clio and Goodal.

Last year, the company brought in Jeffree Star Cosmetics and is looking to bring Manic Panic hair color to the country in the near future because “hair color, especially do-it-yourself hair color, is big in the Philippines,” according to Ma. Cristina M. Sabarre, country manager of Luxasia Philippines, during the roundtable.

Much of the company’s sales comes from fragrances and color cosmetics as Ms. Sabarre noted that these are usually the first luxury buys for people who want to step into the luxury segment, though they are seeing “exponential growth” from the skin care segment as well now that consumers are becoming aware of how important it is to take care of one’s skin.

YOUNGER CUSTOMERS
Mr. Baier noted that in recent years purchase behavior also changed as customers now opt to eschew brand loyalty and tailor-fit their purchases — especially skin care — to products that they like from different brands instead of purchasing entire lines.

The luxury target market is also getting younger, said Ms. Sabarre, as they have observed customers as young as 25 purchasing from luxury brands.

“In skincare, because of the phenomena of them picking and choosing instead of buying an entire range, we are now able to see that we are bringing in a much younger consumer base,” said Ms. Sabarre.

But beyond bringing more brands in the country, the company is looking to expand its reach regionally as Mr. Baier said Luxasia is considering opening brick-and-mortar stores in areas like Cebu, Davao, and Pampanga.

“Though physically we are not there yet, were able to reach consumers outside Metro Manila through e-commerce. We are seeing that there is growth outside Metro Manila… we are looking at geographical expansion now because we are encouraged by the numbers we are seeing through e-commerce,” said Ms. Sabarre.

Among the company’s e-commerce partners are Lazada and Zalora, though last year it also opened its own e-commerce channel, Freyja.

“Fragrances will go first on brick-and-mortar and we’re going to be working on that with our channel partners and maybe some sub-distributors here and there, and once we have established that [category] then we will go with skincare because skincare is much more fragile [in terms of expiry dates],” Mr. Baier said of the regional expansion plans.

ICTSI stock price rises on planned terminal expansion in Croatia, net foreign buying

June 17, 2019 | 12:05 am

By Lourdes O. Pilar
Researcher

INVESTORS snapped up shares of International Container Terminal Services, Inc. (ICTSI) on news its subsidiary in Croatia has started a year-long expansion of its terminal at the Port of Rijeka to accommodate larger vessels.

A total of P1.809 billion worth of 12.571 million shares were traded during the June 10-14 period, making it the third most actively traded stock in the local bourse that week, data from the Philippine Stock Exchange (PSE) showed.

Shares in the Razon-led firm closed on Friday at P148 apiece, up 7.6% week on week from the P138 finish on June 7. Prior to this, ICTSI’s stock price has been on an uptrend most of the week, increasing to as high as P149 per share on Thursday.

For the year, the stock gained 48.7%.

“Investors’ appetite for ICTSI were piqued by news of its Croatian subsidiary, Adriatic Gate Container Terminal (AGCT), undertaking an expansion at the Port of Rijeka,” said Philstocks Financial, Inc. Research Head Justino B. Calaycay, Jr. in an e-mail.

“Once completed by mid next year, the port will be able to accommodate larger vessels and be the first terminal in the region able to berth 20,000 twenty-foot equivalent units (TEU) ships as well as provide more efficiencies,” said Mr. Calaycay.

In a statement last Monday, AGCT said it is implementing a two-phase dredging scheme to improve its operations at the Port of Rijeka, the first phase of which had already been approved.

Once completed by mid-2020, it is expected to make AGCT capable of accommodating vessels that have a capacity of 20,000 TEU, a length overall of 400 meters and a beam of 59 meters.

Financing for the infrastructure works, according to the Razon-led firm, has been provided by the European Union and the Port of Rijeka Authority, with ICTSI “undertaking all the associated necessary investment in quayside and landside handling systems, as well as the increased coverage of the terminal’s state-of-the-art IT systems.”

AGCT said that the capacity expansion will increase terminal yard capacity to 600,000 TEUs per year to address increasing demand. It expects to complete by end-2019 the upgraded on-dock rail yard of the terminal, which will offer an additional 360,000 TEUs in annual capacity.

ICTSI holds the 30-year contract to operate, maintain and develop the AGCT at the Port of Rijeka with its partner Luka Rijeka D.D.

Unicapital Securities, Inc. Technical Analyst Cristopher Adrian T. San Pedro likewise attributed the stock’s movement to the investors’ “positive reaction” surrounding the news, adding that the increase of net foreign buying this week also contributed to the increase.

Data from the PSE showed net foreign buying for ICTSI stood at P419.7 million last week, 165.3% more than its recorded P158.2 million the previous week.

The listed Razon-led firm posted an attributable net income of $72.4 million in the first quarter, up 77% from in the same period last year due to a strong operating income and lower financing charges. Its gross revenue stood at $383.78 million during the period, 17.9% more than the $325.38 million in the first quarter of 2018.

Philstocks’ Mr. Calaycay said that the Croatian port expansion “may provide a boost to the company’s numbers from first quarter’s 4.2% top line and 16% bottom-line growth momentum.”

“The only risk hanging over the port business overall is the threat of an escalation of (and possible contagion from) the US-China trade wars,” Mr. Calaycay said.

Unicapital’s Mr. San Pedro expects the company’s gross revenue to hit $1.5 billion this year, boosted by “strong operational improvements and higher contributions of new ports, particularly in Australia and Papua New Guinea.”

“I expect the trend to remain bullish and the stock will consolidate between P134.00 support and P148.90 resistance with the possibility of testing P160.00 and P170.00 resistance levels if it stays above P136.00 in the short term,” Mr. San Pedro said.

For Philstocks’ Mr. Calaycay, initial support is at the P133-P139 band “with psychological resistance at the P150 line.”

“This news may have already been discounted by the market and we expect little movements thenceforth either way. Nevertheless, ICTSI continues to be a potential long-term proposition as it falls towards the indicated support levels,” said Mr. Calaycay, noting its share price “has already risen significantly since the start of the year” from P99.5 to a 52-week high of P148.9.

Chicken producer Perdue enters crowded plant-based meat market

June 17, 2019 | 12:05 am

PERDUE FOODS, one of America’s largest chicken producers, said it will sell frozen chicken nuggets mixed with cauliflower, chickpeas and plant protein to address a growing demand for products combining meat and vegetables.

A company executive on Friday said more blended products were in the pipeline, with Perdue aiming for its vegetable-enhanced items to become a $100 million segment within five years, making up around 5% of the company’s overall business.

“Consumers have told us the vegetarian lifestyle is too hard, but they’re looking for ways to introduce more vegetables into their diet,” Eric Christianson, Perdue’s chief marketing officer, said in an interview on Friday.

The new product could also help parents trick finicky children into eating healthier. They are “like Trojan horses made of vegetables making it onto kids’ plates and into their stomachs,” Christianson said.

There has been a growing appetite for plant-based foods from both consumers and investors, with shares of vegan burger company Beyond Meat more than tripling since the company went public on May 2. Beyond Meat shares closed at $151.48 on Friday, taking the market value of the California upstart that has yet to make a profit to more than $8.5 billion.

Analysts expect the plant-based meat market to be worth $100 billion by 2035 as consumers seek to reduce meat consumption amid growing concerns over health risks and environmental hazards of industrial animal farming.

Perdue Foods, part of family-owned Perdue Farms, is not the only meat processor vying for health-conscious consumers as firms compete for precious supermarket real estate space.

US meat processing giant Tyson Foods on Thursday announced it will begin selling mixed-protein products, including sausages and meatballs that combine chicken with plants including chickpeas, black beans and quinoa.

Canadian packaged meat producer Maple Leaf Foods Inc’s vegan “ground beef” and burger patties, sold under its LightLife brand, will be on US store shelves this summer.

Nestle, the world’s biggest packaged foods group, is aiming to sell a pea-based veggie patty called Awesome Burger under its US plant-based Sweet Earth brand in the fall.

“This is just the first wave and over time we expect our products to show up in a lot of different grocery store aisles,” Christianson said.

Perdue is also developing ground meat products mixed with vegetables and experimenting with different plant proteins. The company was still evaluating whether to offer wholly plant-based products down the line, Christianson said.

Perdue’s frozen products will ship to restaurants this summer and be available at retailers by September. Christianson declined to provide details on partnerships, but said the nuggets would appear on kids’ menus at fast food chains and at school lunch programs.

Some analysts have questioned the strategy of mixing meat with vegetables to attract health-conscious consumers.

“We’re less confident in blended meat/plant products as we believe in the early stages of alternative meat, consumers want to make a simple binary decision between eating meat or not,” analysts at Mizuho Securities USA said in a note. — Reuters

J.D. Power U.S.A. awards Porsche 911 as Most Dependable Model 2019

June 17, 2019 | 12:05 am

THE PORSCHE 911 is the highest-ranked model in J.D. Power U.S.A.’s Vehicle Dependability Study 2019. This is the first year that a Most Dependable Model has been awarded.

The J.D. Power U.S.A. Vehicle Dependability, now in its 30^th year, measures the number of problems experienced per 100 vehicles (PP100) during the past 12 months by original owners of three-year-old model-year vehicles. The 2019 study measures problems in model year 2016 vehicles and covers 177 specific problems grouped into eight major vehicle categories, namely exterior, features/controls/displays, seats, interior, driving experience, audio/communication/entertainment/navigation, HVAC (heating, ventilation, and air-conditioning), and engine/transmission.

“This vehicle has for years been one of the more dependable vehicles in our study, some years it has been the most dependable,” said Dave Sargent, vice-president of Global Automotive at J.D. Power.

J.D. Power is the global leader in consumer insights and market research for 51 years. This US research company has been conducting surveys and studies on customer satisfaction and product quality across multiple industries, including automotive industry.

The new Porsche 911 is timeless and also modern with an interior featuring a 10.9-inch touchscreen monitor.

THE NEW PORSCHE 911 — A DESIGN ICON AND HIGH-TECH SPORTS CAR
Unmistakably committed to the Porsche design DNA, with a much more muscular look and an interior featuring a 10.9-inch touchscreen monitor, the new Porsche 911 is timeless — and also modern. Intelligent control and chassis elements as well as innovative assistance systems combine the masterfully uncompromising dynamism that the classic rear-engine sportscar is famed for, with the demands of the digital world.

The exterior design of the new 911 is familiar and yet unmistakably new. The eighth-generation 911 is wider, more assertive, and more advanced. Wider wings arch over the large 20-inch wheels at the front and 21-inch wheels at the rear.

The interior is distinctive, with the clear, straight lines and recessed instruments defining the dashboard. Now 10.9 inches in size, the center screen of the Porsche Communication Management (PCM) can be operated quickly and without causing distraction. Below it, a docked-on control panel of five buttons with the look of a classic toggle switch creates the transition to the center console with touchpad. The seats have also been fundamentally modified.

Ultra-luxurious hideaway in the middle of the city

June 17, 2019 | 12:05 am

IT’S EASY to blow P500,000 in a day. You can buy mounds of jewelry, buy out a store, or drop a downpayment for a car. Integrated entertainment property and rich people-playground Okada gives you a new way to spend P500,000 in a day, and we’re not talking about the casinos.

Last week, Okada launched its new villas: El Nido, Coron, and Cebu, located in the complex’ Pearl Wing. Guests partied away at the 1,400-square meter El Nido Villa, while the Cebu Villa was used to tour guests. The Coron Villa, unfortunately for us, was occupied by a very fortunate guest.

The Cebu villa, with 1,170 square meters of well-decorated space, has four bedrooms with seven beds, while the El Nido and Coron villas have five bedrooms and nine beds, all decked out with Rivolta Carminiagni linens. The villas boast of their own living rooms, 16-seat dining room with a minibar, state-of-the-art entertainment room (even karaoke) and spacious his-and-hers bathrooms. The bathrooms are lit with chandeliers by the pink marble bathtub. They also have smart toilets and Roberto Cavalli toiletries along the counters.

The villas have a private garden with outdoor patios, a private swimming pool, and a jet tub. They all have indoor gyms and a couples’ spa suite with a sauna. They have their own private access going inside the casino, parking area, and everywhere else in the resort.

The villas are equipped with a DigiValet system, a special iPad that allows guests to take full control of the room’s devices. Guests will also have access to a 24-hour butler service and a private chef who can prepare any type of cuisine.

The villas all have indoor gyms and a couples’ spa suite with a sauna.

For reasons of privacy, Julius Santos, Director for Sales and Marketing for Okada Manila, demurred from saying what any of their guests requested since they opened a month ago. “Anything that’s legal, we will do for the guest.”

The villas are available at an introductory price of P500,000, but the actual published rate is at P800,000 for weekdays, and P1 million during weekends. What guests will be paying for is the room with all its amenities, but anything else will come on top of the room price.

“I think our villas are priced very competitively for the size that you’re getting,” said Mr. Santos,

The three villas are just the beginning of several luxury suites about to be opened in Okada. Mr. Santos says that the original plans for the property include that 33% of the hotel would consist of suites. Suites that would compare to the size of the villas should be completed by a year, he said.

Speaking about how the price of the villas compare to the presidential suites of other properties, Mr. Santos said, “Hoteliers like to say they have the most expensive suite. That doesn’t matter if nobody pays for it.” — Joseph L. Garcia

Mexico studying avocado exports to Davao City

June 17, 2019 | 12:04 am

By Maya M. Padillo
Correspondent

DAVAO CITY — Mexico is exploring the possibility of exporting Hass avocados and limoncito, a citrus-like fruit, to Davao City, according to Mexico Ambassador Gerardo Lozano.

Mr. Lozano told Businessworld at a welcome dinner in the Marco Polo Davao Monday that he sees expanded exports for the fruit as an opportunity to strengthen trade collaboration beyond Metro Manila.

“The level of relations between the Philippines and Mexico is a very good one as you know we have a very long history of relationship since the galleon time. But unfortunately in some cases the relationship has been concentrated in Manila and now we want to diversify the relationship with Davao City where we have a consulate,” Mr. Lozano said.

“He described the limoncito as a type of “green juicy lemon that is that is from Mexico. In Mexico we (also) have avocado fruits year round,” he said.

Mexican produce is mostly exported to neighboring countries like the United States.

Mr. Lozano said Mexico’s strategy for strengthening trade will include sister-city arrangements, which will also identify opportunities for collaboration in technical, scientific and cultural matters.

“This is my first time in Davao and a good opportunity to have a first view of the city. I met people from the chamber of commerce and discussed some business opportunities between Mexico and Davao City,” he said.

“We have a new government in Mexico City and now we are pushing it again. The new city government took office two months ago… I am sure it intends to finalize sister-city arrangements with negotiations before the end of the year,” he said.

Mr. Lozano said he views the current level of trade between Mexico and the Philippines as below potential, and invited Davao’s business leaders to visit Mexico to identify areas where trade can be expanded.

“I am expecting to receive before the end of the year a business delegation from Manila from various sectors with most of them interested in the food industry of Mexico,” Mr. Lozano said.

Mexico’s Honorary Consul to Davao, Malou G. Monteverde said one possibility for collaboration is agricultural research, with the Mexican side also interested in dealing with a coconut pest known as “kukulisap.”

Ms. Monteverde said the Davao Fashion Design Council (DFDC) is also hoping to exhibit in Manila and also to the foreign community there.

FOTON displays new commuter vehicles at LTO Motor Show 2019

June 17, 2019 | 12:04 am

FOTON Motor Philippines, Inc. (FMPI), the exclusive distributor of FOTON vehicles in the Philippines, showed off its latest commuter vehicles in the 107^th Anniversary of the Land Transportation Office in LTO East Avenue, Quezon City, last May 21 to 24.

FOTON showcased three workhorses built for various transport requirements of the Philippine market: first, the F-Jeepney as the brand’s entry for the government’s Public Utility Vehicle (PUV) modernization program, the utilitarian Gratour TM MPV designed to move people and cargo of small and medium enterprises, and the TransVan HR suitable for private and more luxurious transport services.

“The launch of our commuter vehicles is a substantial effort to move the Philippines toward an efficient transportation network that is in line with the standards of our government, commuters, and environment,” said FOTON Philippines President Rommel Sytin.

The F-Jeepney was derived from the brand’s best-selling light-duty truck, the Tornado 2.4C, with the rear body designed by Centro Manufacturing Corporation. It’s powered by an ISF 2.8S41 17V CRDi 4-cylinder, in-line, turbocharged Cummins diesel engine paired to a 5-speed manual transmission. It generates 116hp at 3,200 rpm and torque of 260Nm from 1,300 to 3,200 rpm, and belongs to FOTON’s lineup of Blue Energy Euro 4-compliant vehicles designed for cleaner and more powerful mobility.

It is equipped with stainless fixed bench-type seats that can hold up to 24 passengers — 16 seating and 8 standing. With a length of 5650 mm, width of 1828 mm, and height of 2615 mm, the F-Jeep is more spacious, providing maximized room for cargo and legroom. It has comparatively wider passenger doors, making ingress and egress much easier.

“The birth of the F-Jeepney is also FOTON’s way of supporting the government’s policy for economic and social development, and adapting its innovations and smart technologies to advance transportation efficacy,” Sytin added.

Aside from the essentials, the F-Jeepney is also equipped with air-conditioning, GPS navigation system, a CCTV camera, dashboard camera, Wi-Fi connection, and entertainment system to keep the passengers in comfort and connected while on the road. The middle entrance operates electronically, and supports cashless payments, too. These may just be the icing on the cake, but they can make a world of difference in improving the quality of commuting for passengers.

Representing the smaller people moving segment is the Gratour TM MPV. This vehicle is capable of carrying 14 passengers at the back and has a 1455-kg payload capacity. The side-facing benches can be folded up to provide additional cargo room. Powering the Gratour TM is a 1.5-liter DAM15R four-cylinder gasoline engine that produces 110ps at 6000 rpm and 142Nm of torque between 3000 and 4500 rpm and is connected to a five-speed manual gearbox.

Sytin noted: “Our main mission is to improve basic infrastructure and provide public transportation services to drive economic and social development, to enhance the Filipino livelihoods and sustainability, and to increase the country’s ability to compete.”

Specially designed for private transport, the TransVan HR uses the luxury-oriented Traveller as basis when it comes to its exteriors particularly with its high roof. It features a 16-seater configuration, dual air-conditioning, a full-fledged entertainment system, and power windows and door locks. It is also equipped with an Anti-lock Braking System (ABS) with EBD and Brake Assist for added safety. To ensure that the TransVan HR has the power to pull its bigger and wider body, it is equipped with a 2.8-liter turbocharged common-rail direct-injection (CRDI) 4JB1 engine.

“With these vehicles, commuting and transporting goods from point A to point B will be smooth, accessible and cost-effective, give value to the existing resources and move the country’s system toward a less-hassle transportation system, because that’s what we all deserve,” Sytin closed.

FOTON is considered to be Asia’s largest commercial vehicle manufacturer. It has a wide range of commercial vehicles, which include, but is not limited to, passenger vehicles, light-, medium-, and heavy-duty trucks, agricultural and heavy machinery. For more info, contact 0999-999-9998 or visit www.foton.com.ph and www.facebook.com/FOTONPhilippines.

Amway’s Paris style

June 17, 2019 | 12:04 am

By Zsarlene B. Chua
Reporter

AMERICAN direct-selling company Amway has brought to the Philippines the second collection off of its Artistry Studio line which takes its name and design cues from Paris. It features three eyeshadow palettes, cheek and lip duos, liquid lip colors, brow shapers, and a setting spray.

“Artistry Studio is all about helping beauty lovers have fun, express who they are, and ultimately treat themselves,” Amway Philippines Country Manager Maria Elenita Olmedo, was quoted as saying in a press release.

“[We aim to] attract the younger generation, that’s why we’re making it fun and playful and trendy,” Daniela Farnache, Amway Philippines’ Head of Market Innovation, told BusinessWorld during the launch on May 29 at Amway Place in Makati City

Last year, the line launched its first collection which was inspired by New York City and featured an on-the-go palette with eye shadows, highlighters and finishing powders; tinted lip balms; two-in-one lipsticks and eye sticks; an illuminating powder palette; and a three-in-one lash boosting mascara.

(The mascara — priced at P1,415 — is one of the best mascaras I’ve tried so far: one can twist the mascara wand to the desired size — full blast for really thick, long lashes or one can turn it into a mini wand to really get at those inner lashes or bottom lashes. The formula also does not smudge, clump or move around. It can also last 12-hour work days. It’s magic.)

This year, the focus in on the City of Lights as the brand took cues from “Parisienne’s minimal yet bold looks, lit-from-within skin and effortlessly styled hair,” according to a press release.

The collection’s art was created by French artist Adolie Day.

The collection includes three eyeshadow palettes, each with six shadows: Macarons, which features pastel colors, City of Lights which has bolder grays and blacks, and Sparkling Watercolors which has lighter shimmer shades.

All three palettes (P1,675 each) have shimmer shades which are completely fine if one prefers a sparkly look, but I confess that I had to pick up several matte shades from my own personal stash to provide a base for my eyeshadow look for the day. I would prefer a couple of matte shades especially since the release noted that the colors in the palettes were done so they can be used as “base shades, highlighter, color or contour,” shades.

But that is not to say that the products aren’t any good — they are very pigmented, especially the City of Lights palette which I’ve continued to use on and off for two weeks now, especially the icy white shade which is a good inner eye highlight, and the bronze shade which gives my lids a pop of color.

What I particularly liked from the line was the Cheek and Lip Duo (P1,265) which is available in three shades: Pantheon Peach (coral and light pink), Polaris Pink (hot pink and blush), and Rouge (dark red and pink).

The formula is creamy, pigmented, and very long-lasting. I’ve worn Pantheon Peach for an entire week and it has lasted longer than my current top shelf favorite from Generation Happy Skin Active, the On-the-Go Cheek Stick in Glowing. I didn’t like how the Cheek and Lip Duo applied on my lips though, as it is incredibly drying and patchy though it does last long.

The two products I felt ambivalent about were the brow shaper (P1,115) and the liquid lip (P1,190). From the liquid lipsticks, I tried the shade Notre Dame Nude, a brown with a hint of pink liquid lip that functions more like a gloss than a proper liquid lip. While the color was flattering on me, I have never been a fan of glossy lips.

Meanwhile, the issue I had with the brow shaper — though it applies well (I used the shade Creme Caramel, a medium ashy brown) — is that the brush was a pain to remove from its place. The entire packaging looks like the Eiffel Tower — cute — but the effort I had to use to pull out the brush from its scabbard was enough to throw me off. I also fear breaking everything off because unlike the other products’ packaging, this one feels a bit flimsy.

While not included in the Artistry Studio, I think the Amway Artistry Exact Fit Cushion Foundation All Day Cover SPF50 PA+++ (P2,275) deserves a special mention because it is the first cushion foundation that has worked on my dry, sensitive skin without issues. It has a dewy finish and stays until the end of the day even without using the Artistry Studio Setting Spray (P1,450).

Sadly, the cushion is only offered in two shades, light medium and medium.

Oh, the setting spray is good: the nozzle spritzes enough product on my face without drowning me and does its job of keeping the makeup on my skin even during the hottest day, though I would say that the makeup itself does a good job on its own even without the setting spray.

The Artistry Studio Parisian Style Edition is available at My Amway Place in Makati and Amway Distribution Centers. For more information, visit amway.com.ph or its corresponding social media sites.

PLDT in talks with Huawei, 4 others for 5G network equipment

June 17, 2019 | 12:04 am

PLDT, Inc. said it is expecting to secure its vendors for fifth-generation (5G) network equipment before the year ends as it targets the commercial launch of the advanced network by the fourth quarter of the year.

PLDT Chairman, President and Chief Executive Officer Manuel V. Pangilinan told reporters last week the company is currently talking to five international technology providers as possible vendors of 5G equipment.

These companies are China’s Huawei Technologies Co., Ltd. and ZTE Corp.; Sweden’s Ericsson, Inc.; Finland’s Nokia Corp.; and United States’ Cisco Systems, Inc.

“We’re pilot testing several use cases in several areas where we have installed the plants,” he said.

“Hopefully by the fourth quarter pwede na ’yung Home, ’yung fixed wireless for the Home and Enterprise [Hopefully by the fourth quarter we can launch 5G for fixed wireless for the Home and Enterprise],” he added.

Last year, PLDT and its wireless unit Smart Communications, Inc. fired up two 5G cell sites located in Makati Central Business District and Clark Freeport Zone, where it said was able to record speeds of up to 700 megabits per second (Mbps). Technology partners Huawei for Makati and Ericsson for Clark provided the 5G radio and core equipment for the firing up of the sites.

Mr. Pangilinan said the company may eventually finalize a deal with about two technology providers for the commercial launch of 5G.

“Wala pa naman ’yung mobile gadgets. ’Yung standards wala pa rin [The mobile gadgets and standards for 5G are not yet here]. So…we might start with home/enterprise. But we have to ask, what are the relevant cities, customer premises equipment for home enterprise,” he added.

Mr. Pangilinan also noted PLDT remained in touch with Huawei after United States government placed the latter on a blacklist on national security grounds.

“We’re constantly in touch with them. They’re the suppliers of our 4G and some elements of our fixed network. Of course we raised the security issues with them. They promised to cooperate,” Mr. Pangilinan said.

There has been growing concern over Huawei’s role as a major supplier to 5G networks around the world, with some seeing the Chinese tech giant as a potential tool for espionage or network disruption.

Meanwhile, PLDT rival Globe Telecom, Inc. is scheduled to launch its 5G network to the home this week. It earlier said the next-generation network could provide speeds from 50 Mbps to 100 Mbps.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Denise A. Valdez

T-bill rates may rise ahead of Fed

June 17, 2019 | 12:03 am

RATES OF Treasury bills (T-bill) on offer today are likely to move sideways with a slight upward bias as the market awaits the result of the Federal Open Market Committee’s (FOMC) meeting this week and the release of the government’s third quarter borrowing program.

The Bureau of the Treasury (BTr) is offering P15 billion worth of Treasury bills (T-bill) today, broken down into P4 billion in 91-day papers, P5 billion in 182-day debt, and P6 billion in the one-year securities.

A trader said T-bill yields may inch higher this week ahead of the US central bank’s policy meeting on June 18-19.

“T-bills yields for auction may move sideways slight upward bias from the previous auction. Market players wait for the FOMC meeting this week where statements of a possible monetary policy easing this year will be closely watched,” Robinsons Bank Corp. peso sovereign debt trader Kevin S. Palma said.

“The market’s also looking forward for the release of BTr’s third quarter borrowing program,” Mr. Palma added.

The Treasury borrowed P15 billion as planned at its T-bills auction last week, with bids from market participants surging to P53.6 billion, more than thrice the amount the government wanted to borrow.

Broken down, the government borrowed P4 billion as planned via the 92-day tenor as bids amounted to P7.8 billion. The average rate declined 43.7 basis points (bp) to 4.555% from the 4.992% logged in the previous auction.

The Treasury also made a full award of the 183-day T-bills as it accepted P5 billion as planned out of offers totalling P20.132 billion. The average yield dropped 47.7 bps to 4.923% from 5.4%.

For the 365-day T-bills, the government borrowed the programmed P6 billion out of the P25.655 billion tendered by banks. Its average yield also slid 42.9 bps to 5.069% from the 5.498% quoted in the previous offering.

Based on the PHP Bloomberg Valuation Service Reference Rates, the three-month, six-month and one-year papers were quoted at 4.642%, 4.935% and 5.213%, respectively, on Friday.

On the other hand, National Treasurer Rosalia V. De Leon said last week that the third quarter borrowing program will be lower than the P315 billion planned during the April to June period amid slow government spending seen earlier this year.

Ms. De Leon said the government has more than enough cash to finance the “sustained” higher spending for the next quarter or so.

Meanwhile, an analyst said demand for the T-bills could rise ahead of more scheduled cuts to banks’ reserve requirement ratios (RRR).

The Bangko Sentral ng Pilipinas (BSP) slashed the RRR of lenders by a percentage point effective May 31 to 17% for universal and commercial banks, 7% for thrift banks, and 4% for rural and cooperative banks, unleashing billions of pesos into the financial system.

The reserve ratios of big banks and thrift lenders will be reduced further by 50 bps each on June 28 and July 26 to finally settle at 16% and 6%, respectively.

The government is looking to raise P1.189 trillion this year from local and foreign sources to fund its budget deficit, which is expected to widen to as much as 3.2% of the country’s gross domestic product. — RJNI

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