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PhilMech hoping to bring improved palay dryer to market

THE Philippine Center for Postharvest Development and Mechanization (PhilMech) expects to commercialize its Fluidized Bed Dryer mainly for rice farmers within the year.
In a statement sent over the weekend, PhilMech Executive Director Baldwin G. Jallorina said that the center has managed to increase the dryer’s capacity to one ton of palay per batch from 500 kilograms previously.
“PhilMech researchers and scientists have vastly improved on the Fluidized Bed Dryer prototype that the agency developed in 2015. From the latter part of this year, PhilMech will take steps to commercialize the technology,” he added.
The agency will be selecting farm machinery fabricators to manufacture the dryer, thereby promoting domestically-made farm equipment.
Aside from processing palay (unmilled rice) the Fluidized Bed Dryer can also be used in food processing, chemicals, pharmaceuticals, dairy production, and by the metal and dye industries.
“[T]he local farm machinery industry […] has the potential to employ more people especially in the rural areas, not only in the actual manufacture of the machines but also in the provision of after-sales or maintenance services,” Mr. Jallorina said.
With the commercialization of the dryer, PHilMech expects better-quality rice, especially during the rainy season when smaller farmers who resort to sun drying are at a disadvantage.
The center said rice yields drop to around 50% to 60% if palay is improperly dried.
Access to a dryer means farmers will not need to sell their palay at a lower price to traders who have drying facilities, Mr. Jallorina said. — Anna Gabriela A. Mogato

Happy Skin collaborates with actress Kathryn Bernardo on cosmetics line


FOUR LEVELS of SM Mega Fashion Hall were brimming with fans on Aug. 18 as Happy Skin launched its new line of cosmetics in collaboration with actress Kathryn Bernardo.
The young actress, known best for her romantic pairing in movies and TV with fellow actor Daniel Padilla, worked with Happy Skin on a collection of lipsticks, cheek tints, rouge, mascara, an eyebrow pen, and pressed powder. The line was pre-sold on the brand’s website in anticipation of the launch, where fans greedily snapped up items in the hopes of winning a meet-and-greet with Ms. Bernardo that Saturday.
The collection — mostly safe nudes and dainty pinks — also have some skincare properties, as is the brand’s ethos: some items come infused with sunflower oil, green tea extract, and hops flower extract, all claiming to nourish the skin, or promote healthy brows and lashes.
According to Happy Skin co-founder Rissa Mananquil-Trillo, Ms. Bernardo’s family liked using Happy Skin, and Ms. Bernardo was happy with the brand since she has sensitive skin which would react to harsh foundations and eyeshadows. “She chose every item in the collection, because she didn’t want to include anything that she wouldn’t use,” said Ms. Mananquil- Trillo.
The six-piece Generation Happy Skin collection features simpler packaging and more straightforward product names than the regular Happy Skin Cosmetics. According to a press release, Ms. Bernardo was “highly involved when it came to deciding on the collection’s pastel color palette, and personally wanted the shade names — like Freedom, Courage, and Love — to inspire others to stay true to who they are.”
“Personally, I like being simple. I like doing my makeup, but I don’t like changing my face,” Ms. Bernardo was quoted as saying in the release. “That’s why I want my fans to learn how to also feel and look beautiful without looking too made up.”
“Everyone we collaborate with, it’s important to me that the people we work with [are] not just a pretty face,” Ms. Mananquil-Trillo told BusinessWorld.
The brand has also had collaborations with celebrities Heart Evangelista, Kris Aquino, Liz Uy, and Colleen Garcia.
“It introduces Happy Skin to the people they speak to; the kind of women they speak to,” she said. “They all represent different things that the women they speak to resonate with.”
Ms. Bernardo “always stood out because she has remained authentic even in an era when so many tried to be out of the box just to be different,” said Ms. Mananquil- Trillo. “She has stood out because she has remained constant in her simplicity.”
Ms. Bernardo, onstage said, talking about the several makeup trends and looks she has tried throughout the years. “Mas bagay sa akin iyong nakikita ko pa rin kung sino talaga ako (The look that suits me is the one where I can still see who I really am).”
THE PRODUCTS
Ms. Bernardo, who is described in the press release as a “proud morena” (brown-skinned)was said to have wanted Generation Happy Skin to flatter a wide range of skin tones. “Problem ko before was to find the perfect makeup for me, because I’m morena,” she was quoted as saying. “I’m very proud that with this collaboration with Happy Skin is perfect for different skin tones, including morena girls.”
All the products in the line are priced below P500.
The products are:
• the Stay Fresh Weightless Pressed Powder (P499) in Light Beige, Medium Beige, and Natural Beige (Ms. Bernardo wears Medium Beige);
• My Lips But Better Ultra Matte Lippie (P399) which comes in five shades (the actress’ favorite shade is the peachy Spunk);
• Kiss & Bloom Water Lip & Cheek Tint in four shades (P299)
• Instant Glow Longwear Powder Blush (P399) which comes in two shades;
• Extra Drama Volumizing Mascara (P499); and,
• Perfect Brows Long-Lasting Liquid Pen (P399) which comes in a universal brown and has a sweat-proof formula. — Joseph L. Garcia

Rural bank, thrift bank ordered shut

THE CENTRAL BANK shut down two small lenders last week in keeping with its mandate of policing the financial system to “weed out” weak players.
The Bangko Sentral ng Pilipinas (BSP) decided to shut down the Rural Bank of Luna (Apayao), Inc. and the Malasiqui Progressive Savings and Loan Bank, Inc. last Thursday, bringing the number of shuttered banks this year to 10.
The Monetary Board ordered the bank closures in separate resolutions issued on Aug. 16. The Philippine Deposit Insurance Corp. (PDIC) stepped in as receiver of these banks last Friday.
The Rural Bank of Luna runs five branches across Cagayan province and holds P213.13 million deposits across 10,090 accounts as of June 30. Of the amount, P185.06 million of deposits are insured, according to PDIC data.
On the other hand, the Malasiqui Progressive Savings and Loan Bank is a single-unit thrift lender from Pangasinan. Total deposits amount to P73.5 million held under 1,064 accounts as of end-June. Around P67.5 million is covered by deposit insurance.
The central bank has the authority to shut down banks which are found unfit to remain in business. Meanwhile, the PDIC’s takeover paves the way for the state-run insurer to acquire the bank’s assets and pay liabilities to depositors.
Bank deposits are insured up to P500,000 per depositor, according to the PDIC charter. Funds used to settle valid deposit insurance claims are drawn from the Deposit Insurance Fund managed by the PDIC.
Individual depositors whose accounts carry P100,000 or lower can avail of early payment, provided they do not have unsettled dues or other obligations with the fallen lenders.
The PDIC will also resolve loans from borrowers and disposes of the bank’s remaining assets through its regular public biddings and negotiated sale, which will be used to settle claims beyond the P500,000 limit.
In a speech last week, BSP Governor Nestor A. Espenilla, Jr. said shuttering problem banks form part of the central bank’s duty to ensure stability.
“Financial stability is something that we constantly advocate for our economy… We have also not hesitated to shut down banks that do not do what they are supposed to do in protecting the public,” Mr. Espenilla said, noting that this has proven to be “one of the toughest decisions” as a regulator.
“Still, it is our duty to protect the public from financial institutions that do not protect them. In the end, as a result of these efforts, the banking system has been weeded out of weak elements that create vulnerabilities to our economy.”
Other lenders which have been shuttered by the BSP this year include the Rural Bank of Pagbilao, Inc. in Quezon; the Rural Bank of Sta. Elena, Inc. in Camarines Norte; the Tiaong Rural Bank, Inc., Empire Rural Bank, and Women’s Rural Bank, Inc. in Batangas; Bangko Buena Consolidated, Inc. of Iloilo; the Rural Bank of Initao, Inc. in Misamis Oriental; and the Rural Bank of Loreto, Inc. in Dinagat Islands.
The central bank shut down seven lenders in 2017. — Melissa Luz T. Lopez

Megaworld expands Iloilo condo project

MEGAWORLD CORP. is expanding its residential offerings in Iloilo Business Park in Mandurriao, Iloilo, with the launch of another condominium tower.
In a statement issued over the weekend, the listed property developer said the South Wing of Saint Dominique will have 159 units. The North Wing currently has 152 units.
The South Wing will offer studio units spanning up to 35 square meters (sq.m.), one-bedroom with up to 50 sq.m., two-bedroom with up to 79 sq.m., and loft units with up to 38.5 sq.m.
“The interest in Iloilo Business Park has built up to a level that we have never expected. Since the launch of the two hotels, the Festive Walk Mall and Festive Walk Parade, more people want to live in the township,” Iloilo Business Park Vice President for Sales and Marketing Jennifer Palmares-Fong said in a statement.
Saint Dominique’s amenities include a swimming pool, kiddie pool, pool lounge, Jacuzzi, fitness center, event halls, game room, day care center, children’s playground, and indoor spa.
The company earlier said it targets to book P1.5 billion in sales from Saint Dominique. The condominium is expected to be completed by 2022.
With Saint Dominique’s South Wing, Iloilo Business Park now has 1,819 residential units, around 90% of which has already been taken up.
Megaworld first started selling residential projects in the Iloilo Business Park last 2013. The company said it will launch more residential units in Iloilo Business Park depending on demand.
“Our residential pipeline is always demand-driven. If there will be more people looking for residential properties in the township, then we will continue to offer more residential properties,” Ms. Palmares-Fong said.
Megaworld generated P4.1 billion in net income attributable to the parent in the second quarter of 2018, 14% higher year-on-year, as revenues likewise went up 11% to P13.7 billion.
This brought the company’s first half attributable profit to P7.25 billion, 13% higher from the same period a year ago. Revenues rose 10% to P26.8 billion.
Megaworld is the property unit of tycoon Andrew L. Tan’s Alliance Global Group, Inc., which also has interests in liquor, gaming, and quick serviced restaurants. — Arra B. Francia

Canada to phase out crop chemicals linked to bee deaths

WINNIPEG, MANITOBA — The Canadian government said on Wednesday it would move to restrict use of two types of crop chemicals that have been linked to deaths of aquatic insects and bees, in a victory for environmentalists and the latest setback for companies that sell the pesticides.
Health Canada’s Pest Management Regulatory Agency (PMRA) said it would phase out, over three to five years, the outdoor use of thiamethoxam, made by Syngenta AG, and clothianidin, produced by Bayer AG.
A review found the chemicals at levels in water bodies high enough to harm aquatic insects that are food for fish and birds.
The widely used chemicals protect corn, soybean, and canola crops from insect damage.
Health Canada’s move is subject to a 90-day consultation period, followed by final decisions in late 2019.
Neonicotinoids, also called neonics, are a class of pesticides applied as a seed treatment or sprayed on leaves. Neonics have drawn scrutiny after research pointed to risks for honey bees, which have been in decline in North America, possibly due to pesticides, loss of habitat, and climate change. — Reuters

Yields on government debt end flat amid lack of leads

By Jochebed B. Gonzales, Senior Researcher
YIELDS ON government securities traded sideways last week on client-driven demand, with some investors tracking foreign exchange amid lack of domestic catalysts.
Data from the Philippine Dealing and Exchange Corp. as of Aug. 17 showed yields — which move opposite to prices — went up by just 0.71 basis point on the average week on week.
Ruben Carlo O. Asuncion, chief economist at UnionBank of the Philippines, described last week’s trading as “lackluster” with market participants catering mostly to their clients.
“It was a lackluster trading week with most activities centered on client servicing requirements,” Mr. Asuncion said. “Sentiment has been subdued as market players are looking for fresh leads.”
Daily traded volume averaged P7.6 billion last week.
For Rizal Commercial Banking Corp. (RCBC) economist Michael L. Ricafort, expectations on inflation and interest rates were already priced in by the local fixed income market.
He said investors monitored foreign exchange instead, particularly the Turkish lira, which has displayed increased volatility in the past week.
“PDST-R2 yields were slightly higher week on week, primarily brought about by the weaker peso exchange rate due to the stronger US dollar versus major global currencies after the market turmoil in Turkey,” Mr. Ricafort said.
“However, towards the end of the week, the Turkish lira already improved from record low levels vs. the US dollar, which also corrected lower versus major global currencies in the latter part of the week, after Qatar pledged US$15 billion in direct investments…”
The lira plunged to a record low of 7.24 against the US dollar last Monday amid worries of monetary policy intervention by Turkish President Recep Tayyip Erdogan, who expressed opposition to higher interest rates despite high inflation in Turkey.
The lira was last traded at 6.01 per dollar on Friday.
At the secondary market on Friday, yields on the two-, three- and 10-year Treasury bonds (T-bond) gained from a week earlier by 25.78 bps, 0.23 bps and 34.46 bps, respectively, to 5.2054%, 5.0636% and 6.7696%.
Meanwhile, the rate of the five-year T-bond declined the most, losing 21.55 bps to close at 5.922%. It was followed by the four-, seven- and 20-year bonds whose yields respectively shed 8.75 bps, 7.87 bps and 7.32 bps to finish at 5.8768%, 6.1463% and 7.3429%.
Also ending lower week-on-week were yields on the 91-, 182- and 364-day Treasury bills as they dropped 2.85 bps, 3.17 bps and 1.88 bps, respectively, to close at 3.1574%, 4.0894% and 4.8384%.
This week, the bond market may monitor again movements in the peso-dollar exchange rate, said RCBC’s Mr. Ricafort.
“If the peso remains relatively stable, PDST-R2 yields could be steady to a slightly lower and the yield curve could flattened a bit, especially if global financial markets continue to stabilize as well,” he said.
For UnionBank’s Mr. Asuncion, “We’re seeing yields moving sideways with upward bias in the near term.”

Fashion fit for fluff fuel

STRUGGLING to close an undergarment drawer stuffed full of old bras is part of the daily dress-up routine of many woman — because, really, what does one do with old bras? Now there is an answer.
Instead of throwing them away, the pile of worn-out and ill-fitting bras may be donated to an eco-friendly cause.
Philippine Wacoal Corp. is now holding its second Bra Recycle campaign where donated bras will be converted to “fluff fuel” for cement companies.
“Fluff fuel,” according to an information packet from Wacoal, “is derived from waste plastic, paper, and fiber substituting for fossil fuel like coal.”
According to the United Nations Industrial Development Organization (UNIDOS), fluff fuels “have a calorific value of 6,500-8,000 kcal/kg and ash content of approximately 10%,” making it an more eco-friendly alternative to fossil fuels.
“Our head office Wacoal Corp. in Kyoto, Japan has been doing the Bra Recycling campaign for more than 10 years,” said Elmira S. Cadungog, Philippine Wacoal Corp.’s merchandising and marketing manager, in an e-mail to BusinessWorld.
“They were the ones who did the study and shared the information to all subsidiaries that old bras can be recycled to become RPF — Refuse Paper & Plastic Fuel. It is a different version of fuel, very similar to fluff fuel.
“Then when Japan Wacoal informed us that Mansei Recycle Systems Inc. from Yokohama City will put up a Plastic Recycling Plant here in the Philippines in 2016, under the name of GUUN Co. Ltd. in Consolacion, Cebu City, they told us to check it out, since we can also join this campaign and transform the old bras into a fluff fuel,” she said.
People may donate their worn-out or ill-fitting bras (any brand) at any participating Wacoal boutique or department store until Sept. 30. Donors will be given a Bra Recycle Paper Bag into which they can place their bras (each bag can fit four bras). The paper bags are then deposited in a recycling bin. Each customer who brings a bra recycle bag filled with worn-out bras will receive a free Wacoal reusable bag.
All the bra recycle bag will remain sealed and will be directly processed into fluff fuel.
“This year, we hope to collect at least 5,000 pieces of Bra Recycle Paper Bags with old bras from employees and customers,” Ms. Cadungog wrote.
For information, visit www.facebook.com/PhilippineWacoalCorp/. — Michelle Anne P. Soliman

Shares seen trading sideways in shortened week

By Arra B. Francia, Reporter
THE MAIN INDEX may trade sideways in the week ahead as investors are expected to stay on the sidelines due to the shortened trading week.
The bellwether Philippine Stock Exchange index (PSEi)gained 0.88% or 66.16 points to close at 7,583.52 on Friday. On a weekly basis, the PSEi went down 2.84% or 221.46 points, as all sectoral indices recorded losses. The mining and oil counter suffered the most, giving up 4.25% for the week, followed by holding firms which dropped 3.29% and financials which declined 3.14%.
Net foreign selling swelled to P4.72 billion last week, while daily value turnover averaged at P5.54 billion.
“Foreign investors are concerned as an emerging market like Turkey continues to experience problems with their economy coupled with the strengthening of the US dollar… This, along with the disappointing economic numbers that we saw last week, has put the index’s performance back in the red for August,” Eagle Equities, Inc. Research Head Christopher John Mangun said in a weekly market report.
Financial markets will be closed on Tuesday for the Islam holiday Eid’l Adha.
“With only four trading days [this] week, we are expecting to see lower volume. However, local investors may treat this as a buying opportunity as several blue chips have pulled back last week. If this happens then we may see the index go sideways or even gain a little,” Mr. Mangun said.
For the index to post a positive trend, online brokerage 2TradeAsia.com said investors will be looking at the resolution of trade tariff issues, improved job growth, the government’s efforts to contain inflation and expectations of good earnings for listed firms.
The US and China have already initiated talks to solve their trade spat before leaders of the respective countries meet at the G20 Summit in November.
2TradeAsia.com also noted that the trade war will have a more direct impact on currencies, since the new tariffs will affect pricing.
“For now, we have seen several listed firms frontloading on necessary inventory, to insulate on production or project costs, especially in meeting [fourth-quarter] demand. So long as the ‘political noise’ is controlled, markets shouldn’t be quick to press their panic button,” the brokerage said.
The company also noted investors will be going for stocks that show a sustainable earnings model, modest growth and improved dividend yield.
“Markets will be willing to take on a premium if these are well integrated on listed shares’ growth plan. Fortunately, there are several companies trading at a discount to their cashflow potential, and it would only take a matter of time, once these firms are noticed, once the dust settles in,” 2TradeAsia.com said.
Eagle Equities’ Mr. Mangun placed the index’s support at 7,530 to 7,440, while resistance could reach 7,650 to 7,800.

France’s Tereos expels three members amid strategy row

PARIS — France’s Tereos, one of the world’s largest sugar makers, has expelled three cooperative members it accuses of damaging its reputation in a row over the group’s push to diversify.
The internal wrangling involves some senior representatives of the 12,000 French sugar beet growers who control Tereos. It comes as Europe’s sugar sector is under pressure from falling world prices after ramping up supply to benefit from last year’s abolition of European Union sugar quotas.
In a statement on Thursday, Tereos said its supervisory board took the unanimous decision to exclude former board members and farmers Gilles Bolle, Gerard Clay and Xavier Laude with immediate effect, following a disciplinary hearing last week.
“This decision is justified by the damage done to the reputation of the cooperative and its members by the circulation, in the media, of deliberately misleading or false information about Tereos’ situation,” the company said.
Contacted by Reuters, Bolle said the sanctioned farmers would mount a legal challenge.
“We are outraged by the decision,” he said by telephone. “We are being expelled for asking what the real financial situation of the group is.”
The row centers on Tereos’ overseas investments in recent years, both in sugar and other areas like starch making. — Reuters

OUTLIER: SM Prime Holdings, Inc.

SM Prime Holdings, Inc. currently has 77 malls in the Philippines and China.

By Christine Joyce S. Castañeda, Senior Researcher
SM Prime Holdings, Inc. (SMPH) was the most actively traded stock in the local bourse last week with analysts pointing to the rebalancing of a global equity index that reduced the stock’s weight and the spillover effects among emerging markets brought by the Turkish lira crisis.
SMPH had the highest value turnover last week, with P1.591 billion worth of 43.693 million shares exchanged hands on the trading floor from Aug. 13 to 17, data from the Philippine Stock Exchange showed.
Shares closed at P36 apiece on Friday, up P0.60 or 1.69% from the previous day, but lost 6.49% week on week. For the year, it is down 4%.
“I believe the main reason… was because of the quarterly MSCI Philippines [Index] rebalancing held last Aug. 13 where it received a slight down weight rating together with ALI (Ayala Land, Inc.),” said Unicapital Securities, Inc. certified securities representative Cristopher Adrian T. San Pedro.
The rebalancing saw the index weights of ALI and SMPH at the MSCI Philippines Standard index decrease by 0.002% and 0.003%, respectively, while those of Alliance Global, Inc. and Jollibee Foods Corp. increased by 0.016% and 0.003%.
Meanwhile, the Philippines saw its index weight in the MSCI Emerging Markets index decrease by 0.007%. The MSCI world equity index tracks large and mid-cap equity performance across 23 developed markets. The index covers approximately 85% of the country’s stock universe.
For Regina Capital Development Corp. Managing Director Luis A. Limlingan, the stock’s earnings were in line with most views.
“However, SMPH’s share price is just being pulled down because of the Turkey contagion,” he said.
The continued fall in the Turkish currency, the lira, has caused panic among investors and has spread to other emerging markets. The fall was attributed to soaring inflation, economic mismanagement, and tensions with the United States.
Going forward, analysts expect SMPH to at least match its net income target for the year.
Mr. Limlingan said the company’s net income could reach P34.5 billion this year. “… [F]or the retail business, this may pick up because of some early spending brought about by elections next year,” he said.
For his part, Mr. San Pedro expects SMPH’s net income this year to reach P32 billion — matching the company’s target — citing the increasing mall revenues from ongoing provincial expansions and the increase in demand for residential properties due to the “promising” influx of foreign residents, particularly from China.
“I’m cautiously optimistic on SMPH given the challenges of inflation which yet has to peak in the upcoming months,” said Unicapital’s Mr. San Pedro.
“[B]ut on the brighter side, the consistency to have a double-digit growth (year-on-year) amidst the global and local uncertainties proves that SMPH’s is among the resilient stocks in the Philippines stock market,” Mr. San Pedro added.
The company’s consolidated net income rose 15.68% to P9.209 billion in the second quarter, its disclosure showed. For the first half, the company saw its net income grow by 15.30% to P16.957 billion, buoyed by mall expansion in provincial areas and higher demand for high-rise residential properties.
Under its five-year plan that was unveiled in 2013, the holding firm for Henry Sy, Sr.’s property investments targeted to double its 2013 P16.3-billion net income and P59.8-billion revenue by this year.
SMPH currently has 77 malls — 70 in the Philippines and seven in China. Two more malls are scheduled to open this year: SM City Legazpi in Albay and SM Center Ormoc in Leyte.
Mr. Limlingan gave SMPH an initial price support of P34 followed by P32.80 and resistance levels of P38 and P39.50.
For his part, Mr. San Pedro pegged the stock’s support at P34 and resistance at P39.50 in the short term with a target of P42 and P44 in the medium term.

How PSEi member stocks performed — August 17, 2018

Here’s a quick glance at how PSEi stocks fared on Friday, August 17, 2018.

 
Philippine Stock Exchange’s most active stocks by value turnover — August 10-17, 2018
(Closing price as of August 17,2018)

Agriculture’s mixed picture

Agriculture’s mixed picture

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