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On the upswing

It would be an understatement to argue that the Nets continue to smart from the 2013 trade that gave them immediate prosperity and subsequent subsistence. They went for instant gratification at the expense of their horizon, getting two marquee names who had seen better days vice three first-round draft picks. And after netting on-the-downside Paul Pierce and The Player Formerly Known As Kevin Garnett, they managed to win one series in the 2014 Playoffs and go one and done off a losing record the next year. Since then, they’ve scraped the bottom of the barrel, the effects of the their poor choice in retrospect continuing to haunt them.
To be sure, the Nets are on the upswing. Under the steady hand of head coach Kenny Atkinson and a far more patient front office no longer operating under the unrealistic expectations of franchise owner Mikhail Prokhorov, they’re gaining respect and respectability, albeit slowly in light of their lack of youthful assets. Not coincidentally, their bitterness over the deal extends to the Celtics, who benefited the most out of it in dumping, with perfect timing, the cogs responsible for the 2008 championship. Which was why fans at the Barclays Center could not help but bask in the hosts’ rare triumph against their foils yesterday. It was the first against the green and white in three years and just the seventh in 22 meetings since the fateful deal went down.
In terms of numbers, the Nets’ 22nd victory against 23 setbacks has them seventh in the East standings, a remarkable slate at the halfway point of their 2018-19 campaign given their roster challenges. They’re just one game out of sixth and four behind — yes — the Celtics, who, in suffering a third straight setback, appear to be as out of sorts and disjointed as they are buoyed and united. If nothing else, their locker room exudes confidence and esprit de corps, as much a product of overachievement as of low expectations. Considering the top-heavy nature of the conference, they’re not likely to make waves in the postseason. However, getting there is, in and of itself, a stunning development that merits major props.
Admittedly, the Nets will need a few more seasons, not to mention a lot more astute moves, before escaping the shadow of their 2013 misstep. That said, they’ve rightly learned to no longer be defined by it. More importantly, they’re keen on making the here and now more a reflection of how far they can go rather than how far they’ve come. In short, they’re thinking the way winners do — lending cause to hope that, in the not too distant future, they’ll be being the way winners are.
 
Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994.

At full throttle:SAIC Motor leads rapid pace of development among China-made cars


Part 1
IN 2018 SAIC Motor’s sales rose 1.75% from 2017, according to a recent company announcement. Though marginal, the increase came against the China auto industry’s 6% dip — the first in 28 years — as the number of vehicles sold in the country last year reached only 22.7 million, or some 1.5 million units less than the tally in 2017, data from the China Passenger Car Association showed. Still, SAIC Motor said its domestic market share is expected to remain at around a fourth of the industry’s total volume, courtesy of the 7.05 million vehicles the company’s various brands delivered last year.
Among the brands belonging in SAIC Motor’s (and its SAIC Passenger Vehicle division) portfolio are SAIC Maxus, SAIC Volkswagen, SAIC-General Motors, Shanghai General Motors Wuling, NAVECO, SAIC-IVECO and Shanghai Sunwin Bus. On top of these, SAIC Motor also manufactures vehicle components and is a leading auto financing service provider in China.
BRITISH ROOTS, GLOBAL POWER
Included as well in the company’s stable are former British brands Rover (now called Roewe) and MG, or Morris Garages.
MG, acquired by SAIC Motor in 2011, was re-launched in the Philippines in October 2018 as the brand finds itself represented in the country by The Covenant Car Company, Inc. (TCCCI), also the distributor of Chevrolet (in turn a General Motors brand). As part of the brand’s new strategy in the Philippines, SAIC Motor on Jan. 8-10 in Shanghai, China, presented some of MG’s technologies and capabilities, as well as stressed SAIC Motor’s might by which the storied marque is propped.
MG has emerged as one of SAIC Motor’s growth engines. In 2018, more than 200,000 MG cars were sold in China, representing a 40% increase, according to the company. The brand’s growth was even higher overseas with a 183% spike — 73,000 MG cars were delivered in nine countries in South America, about six countries in the Middle East, Australia, India, Thailand and the UK (where the MG brand was born in 1924).
MG sales last year in South America reached more than 10,000 units, a 90% increase, while those in the Middle East nearly hit the 9,000-unit mark, or 332% more than the previous year. Deliveries in Australia for the period totaled around 5,000 units, a 446% spike credited to the introduction of the MG ZS and MG3 models.
But it was in Thailand were MG’s performance zoomed. The company sold 27,155 vehicles in the country last year, with the figure equating to a 124% growth. The total is enough for MG to land in the top 10 list of best-selling cars in Thailand, which is no small feat considering the company has been operating in the country only in the last four years.
Well, SAIC Motor and MG are quite serious about their intentions on Thailand. In 2016 the companies announced the start of construction of a factory in Chonburi, located only 80 kilometers south of Bangkok. The new facility, considered one of Thailand’s most advanced, was opened in December 2017. It can produce up to 100,000 vehicles annually, and one of its products — the MG ZS with the i-Smart technology — is known to top its segment periodically.
Even the latest markets MG entered — India, Egypt, Philippines — are showing promise. The brand announced in India last week it would launch the new Hector SUV in the country in the second quarter of the year. In its first year of business in Egypt, in 2018, MG already managed to move 3,763 cars.
POSITIVE OUTLOOK ON PHL
“We can adapt the same success in the Philippines,” said Ying Lu, MG design senior manager, during a Jan. 9 presentation at the SAIC Motor Passenger Vehicle Company design center in Shanghai.
For his part, Albert B. Arcilla, president and managing director of TCCCI-MG Philippines, cited the efficiency of SAIC Motor executives as one of the factors that can potentially help the brand’s progress in the Philippines. “They act swiftly, so decisions are made immediately,” he said. Mr. Arcilla added the wide range of products in the MG portfolio is also a strength on which the brand’s business in the Philippines could rely.
Upon its re-entry in the Philippines, MG immediately launched three new models; the RX5 compact SUV, the MG6 fastback sedan, and the ZS crossover SUV, prices of which are between just a little over P800,000 and P1.2 million. The brand seeks to establish 16 independent MG dealerships, which are targeted to be fully operational by the middle of the year.
Clearly, MG is moving at full throttle in the country. — Brian M. Afuang

Honda HR-V RS Navi CVT:‘Unboxed’ crossover goodness

Text and photos by Kap Maceda Aguila
INVARIABLY, consumers undeniably luck out with the escalation of competition — regardless of industry. The SUV/crossover market is one such domain that has seen a spike in players, what with a world so enamored with the format — to the tune of one vehicle in every three sold globally.
Manufacturers will of course give you what you want, or at least what they think you want. Buyers are not going to plop down a fistful of pesos for a lemon or a car with a stinker of a design concept, right? The compact crossover domain now is like an MMA fight, nay, melee with all participants on the ground, grinding it out with chokeholds.
So, again, in the final analysis, the crossover-crazy should benefit from all the, well, craziness. But wearing the hat of manufacturers allows us to posit the question: How does one stand out in a sea of SUVs? Japan-headquartered auto giant Honda seems to think that more means merrier — serving us heaping morsels of sport-ute goodness. The subcompact HR-V competes for your attention and budget inside a Honda showroom first. What are those much-ballyhooed unique value propositions to allow it to float in a sea of Honda CR-Vs, BR-Vs and Pilots? We dig deeper via the local alpha-dog variant, the HR-V RS Navi CVT.
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• There was much rejoicing immediately after the present-generation HR-V’s unveiling in 2016. It was finally freed from a boxy, minivan-esque profile that many found tough to swallow. Supplanting it is a svelte and sleek figure evoking a dynamic and contemporary ethos. There’s even a faux coupe look because the vehicle’s rear door handles are located surreptitiously on the C pillar. The outsized-hatchback look is rather fetching. The skirting on our RS tester further ramps up the sporty image.
• The sheet metal bears elegant crimping on the side and hood, but the significant exterior features are undoubtedly the front and rear fascia — both an eyeful which lend character and heft.
• Inside, sedan-like appointments welcome driver and passenger into a low-key, high-tech cabin. Comfortably bolstered seats and deceptively spacious interiors are known strengths of Honda, and the company flexes its muscles anew in the HR-V.

Honda HR-V 2
Cabin of Honda HR-V evokes luxury via piano black trim, techie items.

• Two old-school circular gauges with analog needles are complemented by a modern multi-information display on their right but still smartly integrated into the instrument panel. As in other vehicles of the brand, economical driving habits (i.e., light on the accelerator) are rewarded by a green halo on the speedo.
• Piano-black surfaces here and there are a subtle but effective way to evoke luxury (as are the electronic parking brake and paddle shifters), while the three air vents directly ahead of the front passenger are strangely assuring of a comfortable, pleasant ride despite the usual metro swelter. A third-party (Kenwood) head unit should be a pleasant surprise for RS buyers. Speaking of which, the added accoutrements you get with the RS costs a sweet P200,000, but should prove worth the premium.
• On the road, the HR-V is a compliant, low-NVH vehicle. The seating position isn’t as high as other “proper” SUVs, and surely is another exemplar of the quintessential crossover tiptoeing the ute/sedan divide. It’s a daily driver you definitely wouldn’t mind riding and being seen in.

• We don’t like it that all the doors unlock when we shift to Park but, apparently, you can change that setting. The naturally aspirated 1.8-liter heart of the HR-V is sufficient, but may lack some oomph if you’re expecting exceptionally peppy performance, particularly when overtaking. The paddle shifters should help in that regard if you’re willing to sacrifice on fuel economy by going into higher rev territory.
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• Raise your hand if you think this subcompact SUV looker is akin to a “CR-V lite.” We thought so, too. Honda should be mighty proud of its worthy fighter in the crossover war that packs features and commensurate character — not to mention space. Get in the ring with this contender.


Bluffer’s Box

Honda HR-V 1.8 RS Navi CVT
Price: P1.495 million
Engine: 1.8-liter, inline four gasoline SOHC i-VTEC; 140 hp @ 6,500 rpm, 172 Nm @ 4,300 rpm
Transmission: CVT
Drivetrain: Front-wheel drive
Wheels/Tires: 17 inches, 215/55
Key features: Vehicle stability assist, hill start Assist, multi-view reverse camera, auto brake hold, keyless entry, anti-lock braking with electronic brakeforce distribution, audio streaming, Bluetooth, two USB inputs, built-in WiFi, Apple CarPlay, Android Auto, Navigation (for RS only).

Strategies to keep children safe on the roads

By Dinna Louise C. Dayao
First of two parts
HOW long will it take you to read this story? Let’s say 10 minutes. In that time, about 20 children will have been killed or seriously injured in a road crash somewhere in the world.
That’s 3,000 children every day, says the FIA Foundation. The charity supports an international program of activities promoting road safety. Road traffic injury is now the leading cause of death among children aged 5-14 and among young adults aged 15-29, according to the World Health Organization’s (WHO) 2018 Global Status Report on Road Safety.
In the Philippines, about two children die on the road every day. That’s more than 700 children in a year. Data from the Philippine Health Statistics and from the Philippine Statistics Authority in 2015 show road traffic injuries were the third leading cause of death among children aged 10-14 and the fourth among those aged 5-9.
The good news is that there are steps that families and communities can take to stop this global killer of children. Below are WHO’s 10 strategies that have worked in several countries, from Australia to Zambia.
1. CONTROL VEHICLE SPEED.
What is a safe speed on roads where cars and pedestrians, cyclists, or other vulnerable road users converge? It’s 30kph (20mph), says WHO in a document.
Some ways to reduce speed are enforcing a maximum speed limit of 30kph on roads used by many pedestrians, and by installing road features that limit speed, such as traffic lights, roundabouts and speed humps.
Success story: In the United Kingdom, nonprofit group 20’s Plenty for Us set 20mph zones around schools and homes. It helps communities implement “20 is plenty” zones by installing speed humps and chicanes — features creating extra turns in a road.
“Children 0 to 15 years have benefited since the introduction of these zones, by a 46% reduction in deaths among pedestrians and a 28% reduction in deaths among cyclists during the period 1987 to 2006,” according to a WHO report.
2. USE HELMETS FOR CHILDREN WHO RIDE BICYCLES AND MOTORCYCLES.
“For children, wearing a helmet is the single most effective strategy for reducing the risk of injury to the head while riding bicycles or motorcycles,” according to WHO. Strategies to increase helmet use for children include enforcing helmet laws that specify the type and fit of motorcycle helmets by age group, and putting in place internationally recognized manufacturing standards for motorcycle helmets, which ensure that they are suitable for children.
Success story: Only 18% of children in Vietnam’s three major cities wore motorcycle helmets in 2011. In 2014, the government launched its National Child Helmet Action Plan. As of May 2016, child helmet wearing rates in the country’s three major cities had increased to 57%, reports the AIP Foundation.
3. RESTRAIN CHILDREN IN VEHICLES.
Car seats or child restraints are designed to reduce the risk of injury during a crash. They keep kids from being thrown against the car interior, from hitting other car occupants, or from being ejected from the vehicle.
These restraints dramatically increase a child’s chance of surviving a road crash. “If correctly installed and used, child restraints reduce deaths among infants by approximately 70% and deaths among small children by between 54% and 80%,” according to a WHO fact sheet. Strategies to boost the safety of child passengers include mandating and enforcing child restraint laws for all private vehicles, putting in place internationally recognized manufacturing standards for child restraints, and ensuring the availability and affordability of child restraints and parental training.
Success story: In the US, child restraints have made safer the journeys of many little ones. The use of car seats cuts the risk for injury in a crash by 71% to 82% for children when compared to seat belt use alone, said the Centers for Disease Control and Prevention. The use of booster seats lessens the risk for serious injury by 45% for children aged 4-8 when compared with seat belt use alone.
In the Philippines, drivers of private cars may soon be required to secure child passengers aged 12 and below in child restraints. A bicameral committee approved in November 2018 the Child Safety in Motor Vehicles Act.
4. IMPROVE CHILDREN’S ABILITY TO SEE AND TO BE SEEN.
Strategies include using reflective strips on clothing or backpacks, deploying crossing guards, making sure that streets are “uncluttered,” and enhancing street lighting.
5. ENHANCE ROAD INFRASTRUCTURE.
Strategies include introducing school safety zones which count in speed reduction measures, car-free zones, and safe drop-off and pick-up points, and investing in safe public transport.
Success story: The students of Justin Kabwe Primary School in Lusaka, Zambia, used to dread crossing the dangerous road in front of their school. Every day, 4,700 vehicles pass the school entrance; yet the school lacked footpaths and a pedestrian crossing. In 2016, four students were injured on the busy road.
The situation led nonprofit group Amend and the community to work with the International Road Assessment Programme (iRAP). They used iRAP’s Star Rating for Schools app to record the conditions on four locations around the school and found that its main entrance intersection rated one star, which is the least safe, while the nearby corner rated two stars.
These low ratings spurred the installation of a pedestrian crossing, footpaths, fencing, and a school zone warning. As a result, the ratings of the intersection and the nearby corner both improved to five stars, which is the safest rating. In November 2017, the students’ walk to school became a five-star journey.
To be continued.
 
This story has been produced with the help of a grant from The Global Road Safety Partnership (GRSP), a hosted project of the International Federation of Red Cross and Red Crescent Societies (IFRC). Dinna Louise C. Dayao’s road safety reporting has also been supported by the Pulitzer Center on Crisis Reporting.

Dashboard (01/16/19)

Audi A4

Audi PHL to hold warehouse sale

AUDI Philippines announced it is offering as much as P1 million in discounts on select models during its first Audi Factory Warehouse Sale.
Scheduled on Jan. 19 and 20, Audi models to be featured at the event are A4 luxury sedan, Q5 midsize SUV and Q7 seven-seat SUV.
The event will hold at Whitespace Manila on Don Chino Roces Avenue Extension in Makati City. It is open from 9 a.m to 10 p.m. Other attractions include perks and free items for visitors, as well as food and refreshments prepared by chef Margarita Fores.


Chevrolet McDonald’s

Chevrolet drivers get free McDonald’s meal

OWNERS of Chevrolet vehicles get free breakfast every Thursday (until Feb. 7) at participating McDonald’s stores in the Philippines, Chevrolet distributor The Covenant Car Company Inc. (TCCCI) announced. Offered free from 6 a.m. to 10 a.m. are up to four Sausage McMuffin with Egg and Hashbrown meals.
A Chevy driver must identify himself by saying “Love this Chevy!” at a McDonald’s drive-thru order box to avail of the free meal, TCCCI said.
The company added the promotion was made possible through a partnership with McDonald’s Philippines.


Shell GO+

Shell gives GO+ cardholders more benefits

PILIPINAS Shell said its new GO+ loyalty card now rewards both the member and their family with savings when they purchase Shell fuels (V-Power and Fuel Save), lubricants (Helix, Rimula and Advance), and items at Shell Select and Deli2go convenience store. Cardholders also get a 60% discount on SHOC+ service.
A new GO+ catalogue now has a wider range of reward items, too. These include electronics, food and grocery vouchers, as well as appliances and other premium items.
Shell said GO+ card members and their dependents have the chance to earn a scholarship from TESDA. The cardholder is offered an insurance policy covering road accidents.
Public utility and commercial drivers, including Grab drivers, can also apply for a GO+ card, according to Shell.


Ford Everest

Ford offers special financing deals in January

FORD Philippines said buyers of the Ford Everest 2.2L Titanium who will put in at least a 20% down payment will not be charged any interest fee for up to four years. This translates to savings of up to P368,000. Buyers of the Everest 2.2L Trend 4×2 A/T, as well as the Ford EcoSport 1.5L Ambiente M/T, can avail themselves of an all-in low down payment of P58,000. Those getting the Ford Explorer are given a P100,000 savings through a special deal.

A decade later, Lexus Philippines stands on solid ground because of one man

In January 2008, I was wearing a white polo barong and standing on a vacant lot inside Bonifacio Global City. I was also watching the top executives of Toyota Motor Philippines (TMP) ceremoniously break ground for what would be the site of the first Lexus showroom in the country. Eleven months later, I was driving the RX crossover to Napa Valley in California as the sole media invitee of Lexus Philippines to its first overseas press drive.
With me on that US trip was then Lexus Manila president Daniel M. Isla, who had been assigned to the prestigious position after having served as TMP’s first vice president for marketing. We stayed in a Four Seasons hotel in San Francisco, and every morning, over breakfast, the two of us would talk about what lay ahead before us.
At the time, Mr. Isla was at the height of his corporate powers, having been entrusted a very important luxury brand by the market’s number one automaker. Even so, you could sense that he knew he didn’t have much time left to look after the marque. In fact, the most memorable topic he brought up at the time was retirement — understandable considering how TMP’s mandatory retirement age is 55. He talked about his desire to move to a more manageable condominium unit by the time he ended his career.
So here was a guy who had just been given the biggest break of his professional life, already looking ahead to when he would need to walk away from it all. This told me that Mr. Isla was a man who was fully aware of his timetables and deliverables. A man who had no interest in wasting a minute on inconsequential stuff. Every meeting, every event, every decision had to matter — everything had to have an impact. Exactly the kind of mindset needed from a leader tasked to build a brand.
In January 2009, the Lexus Manila dealership formally opened its doors to the market. It was — it still is — the most beautiful automotive showroom in the Philippines. I expected nothing less, especially after everything I had learned and read about the brand. But as polished Lexus is as a brand and as seamless the Toyota system is as a business process, I can honestly say Lexus scaled unprecedented heights in our market largely because of the singular moving force behind its local dealer, and that force was its universally loved president — he who was making every minute count, for he knew his time with the firm was limited.
DMI, as the executive is fondly called, grew up in the streets. He had proper college education and corporate training, but he mastered the art of leading, motivating and selling outside the rigorously structured setup of an organization. He read the Lexus playbook and chucked it out the window. He ran Lexus Manila his way. He simplified meetings, he installed regular fellowships among employees and customers, he drank with journalists, he personally appeased disgruntled clients, he fought with Japanese expats. He also peppered his speeches with Beatles lyrics. Workers freely went to him to unload about their troubles at home. In which other business entity could you approach the top official and rant about your personal problems? In which other luxury car dealer would the big boss share a smoke with a walk-in buyer?
This week, Lexus Philippines celebrates its 10th anniversary. It’s in the good and capable hands of current president Raymond T. Rodriguez. And the division continues to benefit from the Toyota Way. But let’s be clear about one thing: Lexus scored a number of milestones in the last decade mainly because Mr. Isla, now two years removed from the post he held with pride and care, knew his time would soon be up, and then decided to make every moment count.

Loving as a child: Ikarus Theater Collaborative’s “Manikang Kuneho”

To love as a child is to love purely, unconditionally, and without agenda. With Ikarus Theater Collaborative’s first production for 2019, you are invited to return to childhood with the timeless tale of Margery Williams’ The Velveteen Rabbit.
Ikarus Theater Collaborative opens its sixth season with “Manikang Kuneho”, a Filipino musical adaptation of the story between a child and its beloved toy. With songs written to spark the child in you, “Manikang Kuneho” is a chance to relearn what it’s like to love like a child.
The production is helmed by award-winning director Jay Crisostomo IV, who also adapted the children’s story for the stage, with music composed Abi Casauay.
“Manikang Kuneho” stars Mary Joyce Miranda, CJ Maramara, Earl John Diaz, James Vic Allen Pangan, and Angelique Frades.
Catch the show in DITO: Bahay ng Sining, J. Molina St, Concepcion Uno, Marikina, at 7:00 p.m. on Jan 25, Jan 26, Feb 1, Feb 2, Feb 8, Feb 15, and Feb 16, with a 4:00 p.m. matinee on Feb 16.
For ticket inquiries and reservations, please send a message to 0917.863.2364, or an e-mail to ikarustheater@gmail.com.

Paving the Way for Indian Pharmaceuticals in the Philippines

Indian pharmaceutical companies have since identified the Philippines as an increasingly
potential market for affordable, quality medicines. A 23-company delegation led by the
Pharmaceuticals Export Promotion Council of India (PHARMEXCIL) is putting up a mini-expo and
exclusive business matching session for local distributor and partner companies on January 18,
2019.
PHARMEXCIL is the apex industry association set up under the Government of India for the
promotion and export of Indian pharmaceutical products. They are returning for the fifth time
to Manila to meet and connect with potential business partners.
Further to President Duterte’s trip to India last January 2018, in line with the ASEAN
Commemorative Summit, a key highlight of the trip was the emphasized interest on bringing
Indian pharmaceuticals to the Philippines through the discussions of a potential medicine trade
deal and inviting Indian pharma companies to manufacture and produce in the Philippines for
easier access to quality drugs for the Filipino people.
India has been acknowledged as the “Pharmacy of the World”, being the largest manufacturer
of generics in the world. Pharmaceutical products from India are also known to be affordable
with high efficacy rates.
The Philippines-India Business Council, together with PHARMEXCIL India, and with the support
of the Embassy of India, Manila, Department of Trade and Industry, Philippines, and the
Philippine Chamber of Commerce and Industry, have organized the “India Biz Connect: Pharma
Edition” on January 18, 2019, from 01:00-05PM at the New World Hotel, Makati City. This event
provides the platform for local Filipino companies to have exclusive business matching and one-
on-one meetings with the 23-company delegation from India.
Product portfolio includes:
Active Pharmaceutical Ingredients; Bulk Drugs and excipients; Intermediates; Finished
Formulation; Liquid Orals, Oral Dosages, Tables and Capsules; Injectables; Medical Devices;
Surgical and Wound Care Products; Pellet; Nutraceuticals and Food Supplements;
Cosmeceuticals and Skin Care; Vitamins and Probiotics; Herbal Products and Ayurvedic
Formulations; Veterinary Formulations
The event Is FREE attendance to all, with Tre-registration required.
Register at: https://tinyurl.com/IndiaPharma

High school shoe startup to represent PHL in global competition

Eighteen-year-old college freshman Bea Battung will be representing the Philippines as she takes her startup, Prima Facie, to the international stage at the fifth Global Student Entrepreneur Awards (GSEA) finals.
Last Saturday, the local leg of GSEA saw five student finalists compete at Shangri-La at the Fort, with Battung winning out with her concept for sustainable footwear.
Through Prima Facie—which she founded in high school—Battung produces shoes made of water hyacinth, an aquatic plant prevalent in rivers and coastal communities infamous for clogging waterways and causing massive flooding.
“Buy a shoe, clean a river,” Battung said, describing her company’s mission.
More than just helping the environment, however, she’s made it a point to give back to the communities that she employs to help build her products. “Every pair of shoes sold, a pair of slippers is donated to the less fortunate.”
Through their lineup of products—two offerings so far, a hybrid sneaker and a slipper—Prima Facie aims to promote local industries, empower communities, and advocate for environmental awareness.

Stiff competition

Battung beat out concepts ranging from educational tools for children learning Mandarin Chinese, to blockchain-powered micro-bank branches deployed to remote areas.
One competitor, Popoy Medina, presented his venture, Green Rubber (GRub) another footwear brand creating carbon-neutral sandals out of 100 percent discarded tires (no glue or stitching, whatsoever).
Since launching GRub, Medina’s employed 10 residents of his hometown of New Corella in Davao del Norte, all of whom hail from the local PWD community.
“New Corella is among the 30 poorest communities in the Philippines,” Medina said. “As a student entrepreneur, I want to empower those in my sector, specifically those persons with disabilities.”
Medina’s advocacy is a personal one, stemming from an accident that sent 12,000 volts through his body, leaving him unable to fully use his right hand.
“When I was applying for a job, and I wasn’t accepted because I wasn’t physically fit, I realized I wasn’t alone in being discriminated,” he said. “I am a PWD. This is my second life. I need to do something for my community.”
“Building this business, there were a lot of failures, frustrations, and stress,” he said. “The most challenging thing is how to convince my community to believe in my vision.”
But it’s a struggle Medina says ultimately pays off in the end. “One of my artisans told me, ‘I am proud of what I do right now. It gives me purpose. My self-esteem is back.’”

A cohort of mentors

The tournament, organized by Entrepreneurs’ Organization (EO) – Philippines, brought together hundreds of student applicants hailing from schools all over the country to find and empower the next generation of entrepreneurs. From this pool, nine were chosen to join an entirely new mentorship program, wherein student entrepreneurs were assigned mentors from among the nation’s leaders in business.
When Jenny Yang took over the tournament’s organizing committee, she took the initiative to turn what was once simply a showcase of student business savvy into a fully-fledged mentorship program, mirroring the peer-based mentorship system of the organization at large. The result was EO’s new Student Entrepreneurs Incubator (SEI).
With an emphasis on reaching out to young entrepreneurs outside the national capital region, SEI fielded a batch of mentees from all over the Philippines, hailing from places like Davao, Cebu, and Batangas.
“I personally approached EO members who I thought would make good mentors and had the passion to mentor and then invited them,” Yang said. “Each of the SEI mentees are paired one-on-one with a mentor who will mentor them for six months.”
This year’s competition, the culmination of nearly a year of planning, was attended primarily by high schoolers and young college students. Yang says it’s all part of EO’s commitment to society—to inspire the next generation of entrepreneurs.
“We cannot be a country of just job seekers, we need to create jobs,” she said. “So that’s what we want to do, what we want to inspire. And that’s what today’s event is all about.”
As this year’s winner, Battung will be receiving P200,000 in prize money, as well as continued access to EO’s cohort of more than 160 of the nation’s top entrepreneurs, as well as a larger community of over 13,000 business leaders worldwide.
Already a competition veteran at 18, Battung’s taken her business ideas across the region, bagging runner-up at another tournament in Beijing. In April, she’ll be taking her hyacinth-leather kicks to Macau to compete with 50 other student entrepreneurs in the GSEA global finals.

Performance snapshot: Hanjin Heavy Industries and Construction Philippines, Inc.

HUGE LOAN EXPOSURES to troubled Hanjin Heavy Industries and Construction Philippines (HHIC-Phil) could pull down credit ratings for the five Philippine banks concerned as its problems would mean narrower profits for absorbing possible defaults, Moody’s Investors Service said in a Jan. 14 note. Read the full story.

Performance snapshot: Hanjin Heavy Industries and Construction Philippines, Inc.-new

Banks’ credit ratings at risk from Hanjin

By Melissa Luz T. Lopez
Senior Reporter
HUGE LOAN EXPOSURES to troubled Hanjin Heavy Industries and Construction Philippines (HHIC-Phil) could pull down credit ratings for the five Philippine banks concerned as its problems would mean narrower profits for absorbing possible defaults, Moody’s Investors Service said in a Jan. 14 note.
The debt watcher said credit risks from the South Korean shipbuilder’s bankruptcy will drive credit costs higher, with reports pegging the amount at $412 million. Settlement of the unpaid debts was left hanging after Hanjin filed for corporate rehabilitation last week.
Moody’s analysts said this does not bode well for the ratings of Rizal Commercial Banking Corp. (RCBC), state-owned Land Bank of the Philippines (LANDBANK), Metropolitan Bank & Trust Co. (Metrobank), Bank of the Philippine Islands (BPI) and BDO Unibank, Inc. in their view.
“The exposures are credit negative for the five Philippine banks because they will need to incur additional credit charges related to HHIC-Phil, which will reduce their profit,” Moody’s analysts Simon Chen and Shirley Zeng said in a credit outlook.
Moody’s rates these lenders at “Baa2,” which is one notch above minimum investment grade. This matches the rating given to the Philippine government and allows them to raise funding from foreign investors at cheaper cost.
HHIC-Phil has maintained a shipyard at the Subic Bay Freeport Zone in Central Luzon since 2006 and had hired over 22,000 workers. Issues on worker safety have also hounded the shipbuilding firm since it started operations here.
HHIC-Phil owes $140 million to RCBC, $80 million to LANDBANK, $72 million to Metrobank and $60 million each to BDO and BPI.
“Assuming the worst-case scenario in which the banks make provisions for their bad exposures in full because of the unsecured nature of the facilities extended, we expect that credit costs as a percentage of the banks’ pre-provision income will increase to between 20 and 140 basis points (bp), from six to 26 basis points based on their September 2018 financials,” the report read.
“The biggest negative effect on profitability will be at RCBC.”
Moody’s analysts said they expect the bank’s bad loans ratio to nearly double to 4.3% of the total portfolio from 2.2% in 2017 due to its huge Hanjin exposure.
The increase in nonperforming loan ratios of the other four banks “will be smaller” at 15-50 bp, it added.
At the same time, the debt watcher said the banks involved can still weather this challenge, as they have more than enough capital buffers to keep a solid footing.
“Although bank profit will be dampened by the additional credit costs, we expect that the affected banks’ loss-absorbing buffers to remain robust,” Moody’s said, adding that “[f]or RCBC, our assumed credit losses for the worst-case scenario exceed the bank’s pre-provision income and will reduce its capital ratio by around 50 basis points.”
BSP Officer-in-Charge Deputy Governor Diwa C. Guinigundo said on Friday last week that HHIC-Phil’s outstanding debt is “negligible” compared to total industry loans. Latest central bank data showed that this represents 0.24% of total loans and 2.49% of foreign currency loans.
Performance snapshot: Hanjin Heavy Industries and Construction Philippines, Inc.-new

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Vehicle sales in the Philippines (2018)