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PLDT Enterprise, Solaire expand partnership

PLDT, INC.’s enterprise business is expanding its partnership with Solaire Resort and Casino.
The telecommunications giant said in a statement its PLDT Enterprise unit will start offering holders of Ruby and Diamond Solaire Rewards cards with mobile plans under Smart Communications’ Postpaid Plan 2000.
“I am very excited about the expansion of this partnership, because not only will your patrons have access to our high-speed internet connectivity, but they’ll also enjoy better mobile coverage through their Smart postpaid plans,” PLDT and Smart Enterprise Business Groups senior vice-president Jovy I. Hernandez said in the statement.
The two companies first started its partnership when PLDT was tapped to be Solaire’s internet provider in 2013. It also offered services such as voice telephony solution PABX, IP-Virtual Private Network and vanity numbers for operations management and information technology needs.
“Smart’s commitment to providing connectivity solutions all over the Philippines has made it one of the most trusted network providers in the country. We are glad to have Smart as part of making the Solaire Rewards program more rewarding for our guests,” Solaire Executive Vice-President for Casino Marketing Cyrus Sherafat was quoted as saying. — D.A.Valdez

Yields on gov’t debt go up

By Christine J. S. Castañeda, Senior Researcher
YIELDS on government securities (GS) rose last week amid a high September inflation print coupled with negative sentiment on the trade war between US and China.
Debt yields, which move opposite to prices, rose 41.64 basis points (bp) on average week on week, data from the Philippine Dealing and Exchange Corp. as of Oct. 12 showed.
Nicolas Antonio T. Mapa, senior economist at ING Bank N.V.-Manila Branch, said yields on government securities remained elevated due to the “still stubbornly high” inflation figures and “tighter liquidity conditions.”
“The slightly slower than anticipated inflation print may have helped counter the sustained rise but general expectation is for inflation to remain past the BSP’s (Bangko Sentral ng Pilipinas) target. BSP’s consistent messaging to stay hawkish may have also helped limit the increase in yields but with 10 Treasury yields still above 3.15%, the current levels will likely hold,” Mr. Mapa added.
For his part, UnionBank of the Philippines (UnionBank) chief economist Ruben Carlo O. Asuncion said: “This was probably brought by the general negative sentiment brought by the real impact of the trade war between the US and China.”
“Riskier assets are being sold off as investors are flocking to so-called haven (safer) assets,” Mr. Asuncion added.
The Philippine Statistics Authority reported earlier that headline inflation rose to 6.7% in September from 6.4% in August and 3.0% in the same month last year.
The latest inflation figure was the fastest in nearly a decade or since February 2009’s 7.2%.
Still, the official headline print was lower than BusinessWorld poll median and the central bank’s estimate of 6.8% and within BSP’s 6.3%-7.1% range. However, the September reading was higher than Department of Finance’s 6.4% estimate.
At the secondary market on Friday, with the exception of the 91-day Treasury bills (T-bill), all tenors saw their yields increase. At the short end, the 182- and 364-day T-bills rose by 14.08 bps and 30.69 bps to yield 5.5924% and 5.998%, respectively. On the other hand, the yield on the 91-day T-bill fell by 27.7 bps to 4.4397%.
In the belly of the curve, the two-year Treasury bond (T-bond) saw its yield rise by 106.5 bps to 7.4558%. Rates of the three- and four-year T-bonds also increased by 38.39 bps (6.9946%) and 3.55 bps (7.9712%). The five- and seven-year debt papers also gained 109.63 bps and 50.94 bps to fetch 8.1981% and 7.65%, respectively.
At the long end, the 10- and 20-year T-bonds saw their rates go up by 29.22 bps (8.0593%) and 61.09 bps (8.9288%).
Looking forward, UnionBank’s Mr. Asuncion expects yields to recover this week. However, he noted that there might be a “continuing negative sentiment” in the securities and foreign exchange markets due to the trade war between US and China.
For his part, ING’s Mr. Mapa said: “Market looks to global sentiment for direction and possible announcements from the BTr (Bureau of the Treasury) for direction.”

Beauty and the boys

By Cecille Santillan Visto
APPOINTING male ambassadors for Korean beauty brands is more common than ever. Customers strolling through the Seoul shopping district of Myeongdong can attest that they are often lured into stores by men endorsers of make-up and skin care lines rather than their women counterparts. The strategy may have seemed odd several years back, but today it has become the norm, especially for Korean cosmetics.
The SAEM, one of the biggest beauty brands in Korea, has chosen the 13-member K-pop group Seventeen as its global ambassadors to fight neck-and-neck with other equally powerful K-pop group advocating other brands.
And at the fan signing event organized by The SAEM at Robinson’s Galleria on Sept. 30, it was obvious that the Korean company made the right choice.
Filipino buyers were more obviously receptive to the brand and its products, no small thanks to the endorsers, comprised of group leader S. Coups, Woozi, Wonwoo, Mingyu, Hoshi, DK, Jeonghan, Dino, Seungkwan, Vernon, Joshua, The8 and Jun.
Although a relatively new player, entering the global market only in 2010, and the Philippines only in June 2018, it has become a household name locally due to its affiliation with the K-pop group. From its flagship store at SM Aura, it has since opened seven other stores in different Metro Manila malls and will have two additional outlets before yearend. They are also looking at expanding nationwide. It has stores in Japan, Hong Kong, Thailand, among other Asian countries, Kazakhstan, Russia, and even Mongolia. It now has over 500 stores in Korea and overseas.
During the open event hosted by former U-Kiss member Alexander Lee and radio personality Grace Lee, Seventeen fans who were unable to score tickets to the Ideal Cut concert that weekend were nonetheless given the rare opportunity to see them up close.
Even luckier were 200 fans who were chosen from among the thousands who joined the fan sign raffle. These fans were able to personally get signed posters from the group, with a free hi-touch to boot.
It was sheer pandemonium at the Activity Center of the mall but it was, for most fans, a happy kind of chaos. Amidst the shrieking, Seventeen performed the “Harakeke” dance. Harakeke, which is the main ingredient of the SAEM’s Urban Eco Harakeke line, is a plant native to New Zealand which is said to be a powerful hydrating agent. Its extracts can moisturize and protect skin from dehydration.
The SAEM has a complete line of “eco-friendly” body, cleansing, and skin care products for both women and men in their teens to their late 40s. It also has an extensive make-up, pack and mask, and perfume line and Seventeen excitedly informed their fans that they swear by these products. Vernon added that The SAEM’s scents are his personal favorites as “they smell so good.” Prior to the fan signing, they were even given the chance to shop for their favorite The SAEM products.
The performers said that they make sure to consistently take care of their skin despite their hectic schedule, and their “go to” The SAEM products include moisturizers and hand creams. They also intimated that they use face masks before concerts to ensure that they look refreshed.
During the program, The SAEM showed a birthday video prepared by fans for Jeonghan, a band member who celebrated his 23rd birthday on Oct. 4. The celebrant was ecstatic when the thousands of fans in the venue sang for him as Mr. Lee presented him with his birthday cake.
The program was short and sweet, and although it was very difficult to hear what the Seventeen members were saying, the chance to see the group for free was well appreciated by fans.
But if anything, Seventeen’s fan signing event proved that beauty is no longer confined to the ladies, and legions of fans supporting their K-pop idols can certainly push a brand from obscurity to popularity.

Agri dep’t opens TienDA farmers’ market in Taguig

THE Department of Agriculture (DA) said it opened a direct-from-farmers store in Taguig City as part of continuing measures to offer low-cost farm products to the public.
The store, under the DA’s “TienDA Malasakit” brand, opened Sunday at Taguig Lakeshore Hall in Bicutan, in partnership with the city government.
Secretary Emmanuel F. Piño said at least 30 farmers and fishermen’s organizations will sell their products at farm gate prices, including tuna and other goods from General Santos City.
Tomato farmers from Kalayaan, Laguna plan to bring three tons of tomatoes to the Bicutan market, while shrimp of the vannamei variety will be sold by growers from all over the country, while Central Luzon tilapia suppliers and Pangasinan milkfish growers will also participate.
The National Food Authority (NFA) has allocated 1000 bags of rice to be sold at P27 per kilo while farmers from Central Luzon will sell well-milled rice at P39 per kilo.
In a social media post, Mr. Piñol said: “The program is expected to be replicated in other cities and towns in Metro Manila to stabilize the supply and prices of basic food commodities.”
The DA also operated a TienDA Malasakit Store in Muntinlupa last week. — Reicelene Joy N. Ignacio

BFAR orders tracking systems for all commercial fishing boats

THE Department of Agriculture (DA), through the Bureau of Fisheries and Aquatic Resources (BFAR), said all commercial fishing vessels are subject to government tracking and must have vessel monitoring measures (VMM) and electronic reporting systems (ERS).
In Administrative Order 260, series of 2018, the BFAR said all Philippine-flagged vessels allowed to operate in the high seas and those with access rights to fish in other countries’ exclusive economic zones should be VMM and ERS-compliant.
VMM logs the vessel’s position, course, and speed at any given time for the purpose of traceability and management of fisheries resources and fishing effort.
ERS, on the other hand, is a device used to transmit and record catch data to the BFAR near real time or simultaneous to transitions of location data.
The ERS must be able to transmit the following information: species of fish caught, volume caught, position of the vessel where the fish was caught, date and time, vessel activity, and port of origin and arrival.
Vessel operators will have access to the information generated by VMM and each will be issued a unique username and password by the BFAR.
All VMM systems are subject to certification by the BFAR. — Reicelene Joy N. Ignacio

OUTLIER: Now Corp. (NOW)

By Lourdes O. Pilar, Researcher
NEWS of telecommunications firm Now Corp.’s purchase of bid documents for the third player selection, followed by its decision to sue the National Telecommunications Commission (NTC) over the terms of reference sent its stock price moving last week.
Data from the Philippine Stock Exchange showed the Velarde-led firm trading P660.5-million worth of 119.9 million shares from Oct. 8-12, making it the tenth most actively traded stock last week.
On a week-on-week basis, its share price was down by 23.2% to P5.61 apiece last Friday from its closing price of P7.3 on Oct. 5. However, Now shares are still up by 96.8% year to date.
“Most of the activity came from when the news regarding the third telco bidding was released… More trading even came about when Now made headlines saying they were planning to sue the NTC for a supposed ‘money making scheme,’” said Regina Capital Development Corp. managing director Luis A. Limlingan.
“This news created a shift in sentiment, which added to the volatility of the stock,” he added.
Christopher Adrian T. San Pedro, certified securities representative at Unicapital Securities, Inc., concurred: “Investors sold on the news fearing that this move would delay the bidding process of the new major player, which is due on Nov. 7.”
In a statement last Tuesday, affiliate Now Telecom Company, Inc. said it filed the case against the NTC at the Manila Regional Trial Court (RTC) Branch 42, questioning certain items in the terms of reference for the new telco player such as the “(1) P700 million ‘participation security’; (2) P14 to P24 billion performance security; and (3) P10-million non-refundable appeal fee,” claiming these are barriers to entry and that the terms were changed without being disclosed during public hearings.
The company asked for a 20-day temporary restraining order (TRO), but was rejected by the RTC in an Oct. 12 order, saying that Now’s petition failed to meet the standards for issuing a TRO. Specifically, it failed to prove its “unmistakable right” to be protected by a TRO, the “urgent necessity for such relief, and the “serious damage” that will ensure if the order is not issued, adding that the performance security is “contingent” upon Now Telecom being declared the winning bidder.
Now Telecom had likewise sought a preliminary prohibitory injunction, which is scheduled for Oct. 23 and 24 this year.
Prior to filing a case versus the NTC, Now Telecom bought selection documents last Monday, firming up its interest to participate in the bidding.
The deadline for submission of bids is set to be on Nov. 7, and the awarding of the third telco before Christmas.
Regina Capital’s Mr. Limlingan gave Now’s support and resistance levels of P4.5 and P6, respectively.
For Unicapital’s Mr. San Pedro: “I expect the stock to maintain its volatility as it consolidates between a P4 support and P5.94 resistance in the short term.”
Now reported a P5.82 million net income in the first half of the year, 158% more than the P2.26 million in 2017’s comparable six months. The company likewise cited a 29% increase in its gross revenues to P87.38 million during the same period from P68.1 million.

Peso may weaken on Fed minutes

THE PESO may weaken against the dollar this week as likely hawkish hints from the minutes of the latest US Federal Reserve policy meeting may boost the greenback.
The local currency ended last week at P54.13 against the dollar, stronger than the P54.18-per-dollar finish last Thursday.
It also rose week-on-week from its P54.23 finish on Oct. 5.
A foreign exchange trader said the peso’s movement will be dependent on how the dollar will react to global equity markets this week.
“We’re not expecting huge data from the US, so it’s more of how the global equity market will move and how the dollar will react to that,” the trader said by phone.
The recent decline in stocks has yet to spread into foreign exchange markets, with currencies in emerging economies still appreciating and safe-haven currencies such as the yen and franc not budging significantly, according to a Reuters report.
Guian Angelo S. Dumalagan, market economist at Land Bank of the Philippines, said the dollar might remain strong this week as market players bet on hawkish hints from the Fed minutes.
“In the first three days of the week, the greenback might just move sideways with an upward bias,” Mr. Dumalagan said in an e-mail on Sunday, as potentially strong US data on building permits and retail may overshadow possibly softer reports on housing starts and industrial production.
“The excepts of the latest US monetary policy meeting are widely expected to affirm views of more US rate hikes ahead, despite lingering concerns on global trade,” Mr. Dumalagan added.
Meanwhile, possibly slower Chinese economic growth could “ignite fears of slowing global growth” which may prompt investors to flock to safer currencies such as the dollar and yen, he said.
This week, the trader expects the peso to move within P54 to P54.20, while Mr. Dumalagan gave a wider P54-P54.20 range. — K.A.N. Vidal

Shares seen sideways amid outflows, lack of leads

By Arra B. Francia, Reporter
SHARES are seen to trade sideways in the week ahead as the market tries to bounce back from this year’s record low, amid the continued outflow of foreign investors and lack of positive leads.
The bellwether Philippine Stock Exchange index (PSEi) climbed 1.74% or 120.39 points to close at 7,004.77 on Friday, recovering from Thursday’s plunge into the bourse’s record low finish of 6,884.38 for 2018. The main index joined the global equity sell-off last week, which showed the Dow Jones Industrial Average skidding to a eight-month low.
“Overall, our market performed better than the rest of the global markets… It could be because of the fact that western markets are coming off recent highs while our market has been taking a beating for most of the year,” Eagle Equities, Inc. Research Head Christopher John Mangun said in a weekly market note.
On a weekly basis, the index dropped 1% or 73 points, weighed down by holding firms, which dropped 2.2%, and financials, which was down 1.6%. Turnover inched up by a percent to P4.82 billion.
Foreign investors dumped more funds, with average net foreign outflows rising by four percent to average at P555 million per day last week.
“Friday’s rebound should see some follow-through support, which backs up our range-trading view on the market. The important thing to remember is surviving the volatility, until external anxieties ebb,” online brokerage 2TradeAsia.com said in a weekly market note.
The online brokerage noted that while inflation, the weaker peso, and higher interest rates are still “top-of-the-mind” for investors’ watch list, they should also look at economic growth.
“Despite recent downgrades from multilateral institutions (e.g. International Monetary Fund, World Bank), the fact exists they still see growth, albeit at a slower pace versus their earlier bullish tone at the start of the year,” 2TradeAsia.com said.
For Eagle Equities’ Mr. Mangun, the index’s performance this week will rely on foreign investors.
“The index is struggling to stay above 7,000 and local investors are doing their best to support this market. However, the bottom line is that we will not see any significant gains in this market until we see foreign outflows slow down,” Mr. Mangun said in a weekly market note.
Mr. Mangun mapped out two scenarios for the index in the week ahead, saying it could either move sideways and stay above the 7,000 level or fall and test the next support level of 6,800.
“Based on market sentiment, there is a stronger possibility of the latter scenario. Majority of investors will continue to stay on the sidelines while foreigners are dumping and let the market decide what it’s going to do. The result is lower trading volumes,” he explained.
2TradeAsia.com placed the market’s support at 6,900 to 7,000, while resistance could be from 7,200 to 7,250.

Kenya Hara on the design philosophy of Muji

ON OCT. 22, renowned Japanese graphic designer, curator, and board member of Japanese lifestyle brand MUJI, will visit the Philippines for the first time for a design talk at the De La Salle University Manila (DLSU).
The two-hour DLSU lecture, entitled “EMPTINESS — The Design Philosophy of MUJI,” is centered on the brand’s history and concept which is greatly influenced by the simplicity of Japanese design. Mujirushi Ryohin, MUJI for short, is known as a “no brand” company that offers simple yet quality everyday products. With the simplicity of its products, Mr. Hara explains how the philosophy of “emptiness” has inspired MUJI’s design which is loved around the world today.
In 2000, Mr. Hara produced an exhibition entitled RE DESIGN — Daily Products of the 21st Century where he gathered talented architects and designers and asked them to redesign ordinary things. This exhibition emphasized that astonishing design can be found in the context of the ordinary.
Through this exhibit, Mr. Hara was discovered by Ikko Tanaka, one of the founders and art director of MUJI and a famous graphic designer. In 2002, Mr. Hara became a member of MUJI’s advisory board and began acting as its art director. In MUJI today, Mr. Hara is responsible for the total art direction of the brand, its concept, advertisements, and he spearheads its design projects and exhibitions.
His work is deeply rooted in Japanese culture. His main works include the programs of the Opening and Ending Ceremony of the Nagano Winter Olympic Games and Expo in 2005. He produced exhibits in Paris, Milan, and Tokyo entitled Tokyo Fiber — Senseware in 2007 and 2009; and from 2008 through 2009, had an exhibit, Japan Car, in Paris and at the Science Museum in London in 2008-09, and a travelling exhibit entitled DESIGNING DESIGN Kenya Hara 2011 China Exhibition. He has also authored several books such as Designing Design, White, and Galapagos which was released last year.
Mr. Hara will share the concept behind the brand and his work for MUJI with students and the public on Oct. 22, 10 a.m., at the Teresa Yuchengco Auditorium. Admission is free at a first come first served basis. Interested participants must register at MUJI Philippines official Facebook Page at muji.ph. The first 300 participants of the lecture will receive a MUJI giveaway.
In the Philippines, MUJI is exclusively distributed by MUJI Philippines Corp., a member of SSI Group, Inc., with shops at Greenbelt 3, C1 Bonifacio High Street Central, Power Plant Mall, and Shangri-La Plaza East Wing.

Trade gap widens further

Trade gap widens further

How PSEi member stocks performed — October 12, 2018

Here’s a quick glance at how PSEi stocks fared on Friday, October 12, 2018.

 
Philippine Stock Exchange’s most active stocks by value turnover — October 5-12, 2018

Detailed Sangley airport plan due by yearend

THE Department of Transportation (DoTr) said it will give the provincial government of Cavite until the end of the year to finalize its proposal to build an airport in Sangley Point, Cavite.
“Of course I will give them a deadline. I hope to have something before the end of the year,” Transportation Secretary Arthur P. Tugade told reporters recently. He did not say what will happen if the deadline is not met.
Mr. Tugade said despite having an unsolicited proposal from a private company to build a Sangley airport, the DoTr is required to prioritize a government-to-government deal.
Asked if the private proposal will be considered when the Cavite government fails to meet the deadline, he declined to answer other than to say “We’ll see.”
The Cavite government submitted in February a P552.018-billion proposal to develop an airport in the former US naval facility at Sangley Point, Cavite.
The project contains two phases, with the first segment at around P208.487 billion and the second segment around P343.531 billion.
Although the DoTr issued a no-objection clearance in July, it said the proposal still needs to be refined as the draft memorandum of agreement it was presented with has no details on obligations and responsibilities.
Transportation Undersecretary for Planning Ruben S. Reinoso, Jr. earlier said if the Cavite government wants to proceed with its plan, it has to do so independently and with no guarantee, subsidy or equity from the national government.
Going head-to-head with the Cavite government’s plan is a $12-billion unsolicited proposal from Sangley Airport Infrastructure Group, Inc. (SAIG), a consortium formed by Solar Group’s Wilson Y. Tieng and the SM Group’s Henry T. Sy, Sr.
SAIG, led by All-Asia Resources and Reclamation Corp. and Belle Corp., wants to develop an airport at a 2,500-hectare site in Sangley Point with a 50-year concession period. — Denise A. Valdez

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