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Shop to support disadvantaged children

YOU CAN Shop for a cause on Oct. 17 as Unilever and Lazada launch their “Shop2Give” promotion which is meant to raise funds “to support disadvantaged children through UNICEF,” according to a press release.
“Since everyone is moving online, we thought it was time to [do a campaign] online,” Benjie Yap, chairman and CEO of Unilever Philippines, told BusinessWorld shortly after the press launch on Oct. 12 at Manila House in Bonifacio Global City.
The United Nations Children’s Fund or UNICEF is a United Nations agency which provides humanitarian and developmental assistance to children and mothers in developing countries.
For one day, all Unilever products available on the e-commerce platform will be on sale for up to 80% off and every time a person buys a product, Unilever and Lazada match the product’s discount and the value will be given to UNICEF.
Among the brands under Unilever which will be giving discounts are Ponds, Tresemme, Simple, CreamSilk, and Domex, among others.
“We at Unilever stand with UNICEF in their mission to save and improve children’s lives. Through the participation of all our leading brands, we aim to make a significant contribution in their programs that improve children’s health, provide access to clean and safe water and enhance sanitation and hygiene,” Mr. Yap said in the release.
Mr. Yap didn’t disclose their donation target but said they are open to repeating this initiative if the Oct. 17 sale is successful.
“People now have a good reason to shop, no one will complain because they’ll be helping kids through UNICEF,” joked Mr. Yap.
The Unilever and Lazada’s “Shop2Give” campaign page can be accessed via lzd.co/shop2give. — ZBC

MBC Music Show Champion returns to Manila


MBC Music Show Champion — a Korean music chart program with live performances and special segments — will have another special show in the Philippines on Oct. 28 at the Mall of Asia Arena. In 2016, MBC Music Show Music Champion was held in the Philippines to mark its 200th episode. This year’s star-studded lineup is spearheaded by EXO, along with MXM, Weki Meki, The Boyz, Hyeongseop x Euiwoong. Regular host Kim Shin-Young will also join the Manila show. Tickets, which are available at SM Tickets, range in price from P2,120 (Silver) to P10,600 (SVIP Standing and Seated). Tickets may be bundled with perks such as sound check, photo opportunity, red carpet and press conference passes. MBC Music Show Champion is presented by MBC with Lumos E&M and All Access Productions (AAP). For more inquiries on tickets and fan perks, visit http://www.allaccessproduction.ph/ and the social media accounts of AAP.

Coming soon: Pacquiao-designed condominiums

REVOLUTION Precrafted Properties, Ltd. is expanding its design partnership with boxing icon and senator Emmanuel “Manny” D. Pacquiao to include “high quality and affordable” condominiums.
“We are going to do Pacquiao condominiums. We are going to launch them in one of the three master plans. Lakeshore has expressed interest in one or two condos that we want to do there,” Jose Roberto R. Antonio, founder and CEO of Revolution Precrafted, said during the launch of the Pacquiao-designed affordable homes at the Manila Peninsula last Oct. 11.
Revolution Precrafted earlier this year signed a deal with Lakeshore developer Central Country Estate, Inc. (CCEI) for the construction of 7,100 prefabricated homes in the community located in Mexico, Pampanga.
At the launch event last week, the company unveiled Mr. Pacquiao’s designs for the affordable and “limited edition” homes, as well as a sports facility. The affordable row houses, sized at 45 square meters, will be priced at P999,999.
“We believe that every human being needs to have a house. Being a Philippine company, we start here… We hope that with these homes. We now hope that with these homes, many will have a chance to make their dreams come true. The partnership with our Champion Revolutionary, we will continue to explore opportunities to offer even more affordable homes in the future to ensure that Filipinos will have their chances of having decent homes,” Mr. Antonio said in a speech at the event.
Recalling his experience being homeless and living in the streets, Mr. Pacquiao said: “The Filipino people deserve to have a dream house… My first priority, to help, is giving shelter.”
Mr. Antonio said 440 Pacquiao-designed row houses and sports facility will be available at the Batulao Artscapes project in Nasugbu, Batangas. Another 200 Pacquiao-designed homes will be available at Lakeshore.
Century Properties Group, Inc. (CPG), where Mr. Antonio is managing director, is developing the Batulao Artscapes. For the project, Revolution Precrafted is also supplying homes designed by Filipino and international designers and architects.
At the same time, Mr. Pacquiao designed “limited edition, curated” homes and a multi-purpose sports facility at the Revolution Hills community in San Mateo, Rizal.
Revolution Precrafted said model units will be built before the end of 2018, and the assembled houses will be ready for occupancy early next year.
Mr. Pacquiao, in a statement, said he is considering launching a “Buy a Home, Get a Lot Free” scheme where he will give lots from his personal property in Saranggani for Filipinos who want to have their own homes. The lots will only be awarded to those who will use it to build a home, not to sell it afterwards.
“We want to plan it well, because as I have said we want to come up with a campaign… It’s part of philanthropic efforts… at Revolution and with Senator Pacquiao, we want the ‘Buy a house, get a lot for free,’” Mr. Antonio said.
Revolution Precrafted brings together architects, artists, and designers to create prefabricated livable spaces.
The startup is now present in 17 markets worldwide, having forged deals with international companies in the past six months, including a $52-million project in Spain, a $1.2-billion project in Myanmar, and $3.2-billion project in Dubai.
Revolution Precrafted has also partnered with companies in the Caribbean nations of Trinidad, Guyana, Jamaica, and the Bahamas, as well as in Japan, Puerto Rico, Ecuador, Brazil, and Cyprus. — Vincent Mariel P. Galang

HSBC appoints new president and CEO for PHL

THE HONGKONG and Shanghai Banking Corp. on Monday named a new president and CEO for its Philippine operations after its former chief left the bank to head a local lender.
In a statement sent to reporters on Monday, the global bank said it has appointed Graham FitzGerald as the new president and chief executive officer of HSBC Philippines, with the effective date subject to approval.
Mr. FitzGerald is currently the senior executive of International, a unit that has oversight over HSBC Group’s 10 network markets in Asia.
In 2016, he took over as CEO of HSBC Brunei in 2016 until mid-2018.
Prior to this, he also worked in several roles for HSBC in countries like New Zealand, United Kingdom and Hong Kong. Mr. FitzGerald was HSBC’s regional chief operating officer in the United Arab Emirates and was also regional banking head for HSBC’s commercial banking business in the Middle East North Africa region.
Peter Wong, HSBC Deputy Chairman and Chief Executive for Asia Pacific, said Mr. FitzGerald’s international banking experience and strong expertise in client relationship management will be invaluable to the bank.
“The Philippines is a key country for us, important as part of the (HSBC) Group’s much valued international network and for its place within the ASEAN bloc,” Mr. Wong was quoted as saying in the statement.
Mr. FitzGerald will replace Jose Arnulfo “Wick” A. Veloso who stepped down from his post in August to serve as the new president and CEO of the Tan-controlled Philippine National Bank (PNB) effective Nov. 16.
Mr. Veloso, the first Filipino who held HSBC Philippines’ presidency, was hired by PNB after its current chief Reynaldo A. Maclang decided to retire from his post. Mr. Maclang will continue to serve as a board advisor of PNB.
“We wish to thank Wick for his 24 years with the Group and for his leadership in the Philippines since 2012,” Mr. Wong added.
HSBC has been in the Philippines for 143 years and is a leading international bank in the country. Currently, it has 10 branches in the country located in Metro Manila, Cebu and Davao, including three locally incorporated HSBC Savings Bank offices. — K.A.N. Vidal

BIR confirms San Miguel share swap transaction is tax-free

DIVERSIFIED conglomerate San Miguel Corp. (SMC) has received clearance from the Bureau of Internal Revenue (BIR) for the tax-free transfer of its common shares to its newly consolidated food and beverage unit.
In a disclosure to the stock exchange on Monday, SMC said the BIR issued last Friday BIR Rule No. 010-2018, confirming the tax-free transfer of its common shares in San Miguel Brewery, Inc. (SMB) and Ginebra San Miguel, Inc. (GSMI) to San Miguel Food and Beverage, Inc. (SMFB).
The share swap transaction includes the transfer of 7.86 billion shares in SMB and 216.97 million shares in GSMI to SMFB, in exchange for 4.24 billion new common shares in SMFB to be issued to SMC out of its capital increase. The transaction is valued at P336.35 billion.
With the tax exemption, SMC said it will apply for a certificate authorizing registration of SMFB’s ownership over the SMB and GSMI shares in the stock and transfer books of the two companies.
The transaction forms part of SMC’s consolidation of its traditional businesses under SMFB, which now holds its liquor, brewery, and food and beverage units. Following the share swap, SMFB now holds 51.16% and 78.26% in SMB and GSMI, respectively. SMC will also increase its stake in SMFB to 95.87% from 85.37%.
The consolidation intends to create a “significant consumer food and beverage vertical market under SMC,” while also aiming to enhance its trading liquidity.
SMFB is now looking to raise up to P142 billion in a follow-on offering to comply with the minimum public ownership rule of 10%, as its public float fell to 4.12% after the share swap.
The company has already secured approval from the Securities and Exchange Commission to proceed with the share sale, consisting of a base size of 887 million shares and an over-allotment option of 133.05 million shares priced up to P140 each. Funds raised from the offering will be used to fund SMC’s infrastructure projects.
The share sale is currently awaiting approval from the Philippine Stock Exchange.
As per its latest prospectus, SMFB targets to price the offering by Oct. 19, with the offering to run from Oct. 23 to 29. The shares will then be crossed at the exchange by Nov. 6.
SMFB’s net income expanded by 20% to P15.4 billion in the first six months of 2018, following the 15% increase in consolidated revenues to P137.4 billion.
Shares in SMFB went up by 1.12% or a peso to close at P90.50 each at the stock exchange on Monday. — Arra B. Francia

Searching for Dean

POPULAR dark fantasy series Supernatural returns to AXN with the premiere of Season 14 on Oct. 17, 10:35 p.m. With Dean possessed by the archangel Michael in the finale episode of Season 13, this new installment begins with Sam enlisting everyone’s help to track down Dean, who can literally be anywhere. “It’s challenging to write episodes without Dean Winchester in them because he’s such a fundamental part of the show,” said showrunner Andrew Dabb. “But it’s also exciting.” The show will air Wednesdays, 10:35 p.m., on AXN.

China Bank, AF Payments ink deal for Beep reloading

CHINA BANKING Corp. (China Bank) said its automated teller machines (ATM) can now be used by its cardholders to top up their “Beep” cards.
In a statement on Monday, the Sy-led China Bank said it has partnered with AF Payments, Inc., allowing cardholders to reload their Beep card via select ATMs.
The service will initially be offered in 100 machines near train stations as well as point-to-point bus terminals.
China Bank cardholders can top up a minimum of P100 up to P10,000, in multiples of P100. The load amount will be debited from their account.
Each reload carries a transaction fee of P10, which will be waived on the fifth transaction within the month.
Beep cards are used to pay for fare at elevated trains, select public transportation and toll roads, as well as for purchases in select retail outlets. Currently, there are over five million Beep cards in the market.
China Bank Vice-President for Alternative Channels Marie Carolina Chua said the bank has been “conscious of harnessing available technology,” especially in the self-service space, to serve its clients.
“Co-creating with like-minded technology partners to deliver efficient and reliable value added service such as this, not only differentiates us in the market; it is consistent with our value of being the right partner for our customers,” Ms. Chua was quoted as saying in the statement.
Meanwhile, AF Payments President and CEO Peter Maher said the tie-up allows the firm to use China Bank’s ATM facility to expand its multi-channel reloading platform.
“Having a reloading facility that is instant, widely available and easy to use supports our expansion efforts,” Mr. Maher said.
China Bank booked a net income of P3.6 billion in the first half of the year, unchanged from the same period a year ago, even as recurring income grew amid lower fee-based revenues.
Shares in China Bank closed at P28.55 apiece on Monday, down 55 centavos or 1.89%. — KANV

DMCI Homes creates Japanese-inspired gardens at new project

DMCI HOMES is creating a Japanese-inspired garden at its Kai Garden Residences development along M. Vicente St. in Mandaluyong City.
Instead of cherry blossoms and maple trees, the garden features the Pink Tabebuia (Tabebuia rosea) which produces pink and purple blossoms, and the Palawan Cherry or “Balayong” (Cassia nodosa) with its pale pink and white flowers.
The garden will also include the Salingbobog (Crateva religiosa) and Banaba (Lagerstroemia speciosa).
“Since we have Japanese garden as the theme, we have to ensure that the setting seen in the property is similar to a typical Japanese garden. To make our landscape distinctive and authentic, we will have the Philippine equivalent of these known Japanese flowering trees in Kai Garden Residences,” DMCI Homes Landscape Manager Alexis Valiente was quoted as saying in a statement.
DMCI Homes said it is considering adding the Fire tree (Delonix regia) and Palo Santo (Triplaris cumingiana Polygonaceae) to the open spaces and gardens of the three-tower resort-inspired development. It is also looking at planting the African Talisay (Terminalia mantaly), Katmon (Dillenia philippinensis), Narra (Pterocarpus indicus), Dita (Alstonia scholaris), Maki (Podocarpus macrophyllus), Ylang-Ylang (Caanga odorata), Lemon top (Ficus microcarpa), and Magnolia Tree (Magnolia grandiflora), which resemble other Japanese trees.
“Kai Garden Residences will be a unique development even by DMCI Homes standards as it will be the first project to use these trees en masse, showcasing a feast of colors when the garden is in full vigor,” Mr. Valiente said.

LBC Express buys stake in 2 Brunei affiliates

LBC Express Holdings, Inc. acquired a stake in two Brunei-based logistics firms, as it continued to consolidate its international affiliates.
In separate disclosures to the stock exchange on Monday, the listed logistics and money services firm said it has acquired 500 shares in LBC Mabuhay (B) SDN BHD (LBC Mabuhay Brunei) for a total of $225,965, or $451.93 each. This represents 50% of the company’s outstanding shares.
LBC also purchased one share in LBC Mabuhay Remittance SDN BHD (LBC Mabuhay Remittance Brunei) for $557,804, representing half of the company’s outstanding stock.
LBC Mabuhay Brunei is involved in logistics, while LBC Mabuhay Remittance engages in the remittance business in Brunei.
“The acquisition is expected to benefit the company by contributing to the global revenue stream of the company,” LBC said for both transactions.
The company will be paying both transactions in cash.
LBC has been snapping up its cargo and remittance affiliates since the start of the year. It acquired in March LBC Mundial Corp., LBC Mabuhay Saipan, Inc., LBC Mabuhay Hawaii Corp., and LBC Mabuhay North America Corp. for a total of $8.5 million.
In the same month, the company also purchased a 30% stake in Orient Freight International, Inc. for P218.88 million. It further acquired an 86.11% share in QUADX, Inc., a firm that owns, maintains, and operates an online marketplace and retail store.
The firm then acquired $461,782 worth of shares in Malaysia-based LBC Mabuhay last August.
LBC earlier said that it plans to consolidate its international affiliates this year, specifically those located in the United Kingdom, Italy, Spain, Germany, and Hong Kong.
The company’s net income attributable to the parent surged 134.63% to P1.128 billion in the first six months of 2018, as gross revenues rose 18% to P5.78 billion.
Shares in LBC jumped 4.37% or 62 centavos to close at P14.82 each at the stock exchange on Monday. — Arra B. Francia

How PSEi member stocks performed — October 15, 2018

Here’s a quick glance at how PSEi stocks fared on Monday, October 15, 2018.

 
Philippine Stock Exchange’s most active stocks by value turnover — October 15, 2018

Fuel excise freeze expected to bring down food prices

THE suspension of excise tax hikes on fuel for 2019 will have a marked impact on food prices, particularly fish, because of the sector’s sensitivity to fuel prices, Agriculture Secretary Emmanuel F. Piñol told reporters.
Mr. Piñol said the suspension of the fuel excise tax increase will be a “big relief” because of the distance from key markets of major food growing areas, including the vegetable farms of the Cordilleras, as well as the marine fishery, where fuel accounts for up to 60% of the cost.
He said relief from higher fuel taxes coincides with the rice harvest, which is boosting supply and bringing food prices down.
“We will be able to feel it in two to three weeks, just in time for the Christmas holidays,” Mr. Piñol said.
The excise tax on fuel, first raised in January 2018 with the effectivity of the first tranche of the tax reform law, was due for another round of increases in 2019, but the government decided to preemptively suspend the increase amid worries about inflation.
The tax reform law itself contains a tax hike suspension provision if the Dubai crude benchmark exceeds $80 for three months. The decision to suspend the tax hike came ahead of schedule as Dubai crude first hit $80 in late September.
Separately, Mr. Piñol said the poultry industry is seeking a farm support price to set a floor for its products alongside the imposition of an SRP.
Pork Producers Federation of the Philippines (PPFP) president Edwin G. Chen said he backs a support price for farmers, which will help them survive oversupply conditions.
Mr. Chen said the farmgate price of pork is now at P120 to P130 per kilogram, to which the Department of Trade and Industry (DTI) adds P70 to determine the SRP.
Mr. Chen, however, said that a farm support price should be on the table as the cost of inputs such as feed are also volatile. — Reicelene Joy N. Ignacio

Clark airport expansion hits 25% completion

THE BASES Conversion Development Authority (BCDA) said the Clark International Airport expansion project has reached 25% completion.
“We have accomplished 25% of the Clark International Airport project as of this date,” BCDA’s Senior Vice-President for Business Development and Operations Joshua M. Bingcang, an engineer, said in a statement Monday.
Activity on the site will now focus on the installation of a modern roof structure, which is in the process of being shipped.
The glued laminated timber (glulam) and aluminum roofing to be used for the new terminal was purchased from Austria’s Rubner Holzbau, a timber engineering firm that builds structures for industrial and commercial buildings, shopping centers, educational institutions, facilities for sports, leisure and culture, residential buildings, and hotels.
The concession holder Megawide-GMR also ordered from Italy’s ISCOM SpA a 47,000-square meter wavy roof meant to reflect the Zambales mountains.
ISCOM specializes in aluminum alloy roofs and cladding. It provided the roof of the Mactan International Airport in Cebu.
Mr. Bingcang said the materials used for the roof are rated to withstand Category 5 hurricanes.
According to BCDA, the materials will start arriving in the country in two months.
“As the next premier gateway to Asia, Clark International Airport should be designed and constructed only by the best in the world,” BCDA President and CEO Vivencio B. Dizon was quoted as saying in the statement.
The first phase of the Clark International Airport expansion project is expected to be completed by June 2020.
The government has been positioning Clark as an alternative gateway to decongest Ninoy Aquino International Airport, which has exceeded its passenger capacity. — Janina C. Lim

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