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Veterans Bank relaunches Mindanao branches as it targets new market

DAVAO CITY — Philippine Veterans Bank (PVB) has started relaunching its branches in key Mindanao cities as it aims to expand its market base, beginning with soldiers, military retirees and local government employees.
Miguel Angelo C. Villa-Real, first vice president for corporate and consumer relations, said PVB’s rebranding is part of marketing efforts to attract more non-veteran and retail clients.
“Some of you think that Philippine Veterans Bank caters only to veterans, which is one of our biggest clients… We want it to be rebranded but not to give up its former clientele and also open the stores to other clients, that is the purpose,” Mr. Villa-Real said in media forum here Thursday.
On Friday, June 8, PVB relaunched its renovated branch in Kidapawan City, which now has a wall panel showing World War 2 events as well as display cases containing war artifacts and memorabilia.
The branches in the cities of Koronadal, Butuan and General Santos are also lined up for relaunching soon, Mr. Villa-Real said.
PVB’s Mindanao network also covers Davao, Cagayan de Oro, Valencia, and Zamboanga.
“Almost all the key cities, we have (a branch) in Mindanao,” he said.
The PVB official said choosing the Armed Forces of the Philippines (AFP) as their main niche market is the “easiest” because its members would be the next generation of veterans.
“So we are shifting to that market. The AFP retirees, they are modern day veterans,” he said.
“The (World War 2) veterans are almost gone,” he added, citing data that only around 5,000 of them are still alive out of the original 200,000 survivors.
“We don’t want to compete with the big boys (of the banking industry) as they already dominate the market and (have) very strong presence, so we want to look at markets that are not that heavy in terms of competition,” he added.
Local government employees are another target market as the bank already serves some municipal and city governments. — Maya M. Padillo

Gov’t to new barangay captains: Help campaign for federalism

THE Department of Interior and Local Government (DILG) called on new barangay captains to help the national government in its campaign for federalism as President Rodrigo R. Duterte on Thursday led the oath-taking of 3,003 new barangay captains from Central Visayas in Lapu-Lapu City.
In a statement released last Friday, DILG OIC-Secretary Eduardo M. Año during the oath-taking “urged the new local officials to help spread the merits of federalism in their respective barangays.”
The DILG chief also told the new village leaders to help the government in its campaign against illegal drugs, criminality, corruption, and violent extremism in their areas.
“We have one vision: To make our barangays a better and safer place and ultimately make our country a better Philippines,” Mr. Año said.
DILG is the lead government agency on the campaign for federalism. On Friday, it held a conference to discuss implementation of the transition to a decentralized government should the new constitution gets approved.
“As the department in charge of the advocacy for federalism, the DILG would like to help spread the knowledge on implementing the transition stage,” DILG Assistant Secretary Jonathan E. Malaya said.
The agency will also hold a series of “roadshow” starting June 17 to bring the consultations on the initial draft of the new constitution by the Consultative Committee (ConCom) to the regions and gather inputs from stakeholders. — Minde Nyl R. dela Cruz

DICT looks to name third telco before yearend

THE Department of Information and Communications Technology (DICT) said the inter-agency committee overseeing the selection of a third telco player will come up with a target timetable for the announcement of the new entrant.
“We’ll come up with the timeline on when the awarding will actually take place but definitely within the third quarter or fourth quarter,” DICT Secretary Eliseo M. Rio, Jr. told reporters on Friday in Pasay City, referring to a more conservative schedule compared to the previously announced August target.
He added that the committee met on Thursday afternoon to discuss the timeline, but no details were immediately available.
“Sinusuri ng oversight committee yung terms of reference,” he added.
Some 300 megahertz of frequency is currently available and is expected to suffice for the consumption of a third player.
The National Telecommunications Commission estimates that 30.32% of all available radio frequencies is allocated to PLDT, Inc; around 24.9% for Globe Telecom, Inc.; some 39.35% is facing issues in the courts; while the remaining 5.41% is unassigned.
Mr. Rio noted the committee is ensuring the new major player will have the capacity to shell out a hefty investment.
OPTICAL FIBER
In another development, the DICT sealed on Friday a partnership with the National Grid Corporation of the Philippines and the National Transmission Corporation for the free utilization of spare optical fiber, which will save the government some 2.6 billion in savings.
Under the deal, the DICT is granted the indefeasible right of use/or access in certain spare Fiber Optic Cores, vacant lots, tower spaces and related facilities. The total length of the dark fiber network is 6,154 kilometers, spanning from Luzon to Mindanao.
The two major broadband projects are expected to be completed by 2019. Its implementation is seen to save up on workforce, time, and financing, while helping more people in the provinces access government’s internet services at an affordable cost. — J.C. Lim

PAL to take delivery of Airbus 350-900 in the coming weeks

PHILIPPINE Airlines (PAL) could expect the delivery of its A350-900 aircraft soon as Airbus reported it has successfully flown the new airplane from the assembly line in Toulouse, France, gearing it up for the final phase of production.
“The flight marks the start of the final phase of the production process, leading to customer acceptance and delivery in the coming weeks,” Airbus said in a statement.
The local airline ordered six A350-900s from the European aerospace company’s A350 XWB series, and earlier said it was expecting the delivery of the first unit by July. The other type of aircraft in the A350 XWB family is the A350-1000.
“We ordered six Airbus 350. Four will be delivered this year, and two will be delivered next year. And then we have the option for another six, and that option can be converted into (Airbus) 350-1000,” PAL President Jaime J. Bautista told reporters last week.
PAL’s current fleet consists of 26 A320s, 15 A330s and five 340s, Airbus said. The new planes will be used for premier long haul flights that connect Manila to North America and Europe.
Mr. Bautista earlier said the A350-900 will replace their existing A340 units which has a smaller capacity.
“We’re taking delivery of four Airbus 350, but we are retiring also our Airbus 340. But there’s more seats on the 350. From 254 to 295. So that’s an additional 41 seats,” he said, noting there will be a 20% increase in capacity.
The acquisition of the new aircraft is also expected to help in the company’s fuel conservation program by reducing fuel costs by within 20% per seat kilometer basis, Mr. Bautista said.
“The A350 XWB features the latest aerodynamic design, carbon fiber fuselage and wings, plus new fuel-efficient Rolls-Royce engines. Together, these latest technologies translate into unrivaled levels of operational efficiency, with a 25% reduction in fuel burn and emissions, and significantly lower maintenance costs,” Airbus noted in the statement.
PAL is currently seeking the approval of a higher fuel surcharge from the Civil Aeronautics Board (CAB) because of the rising prices of jet fuel, which increased by $13 from January to April. It said the company consumes 11 million barrels of fuel a year, which would cost them an additional $143 million if their application is dismissed.
The company’s order for A350-900 and its separate order for Airbus 321 NEO planes are some of its contingency measures to handle the fuel problem as the two aircraft are more fuel-efficient.
PAL Holdings, Inc., the listed operator of PAL, saw its net loss sink deeper in the first quarter at P1.1 billion, largely due to the fuel cost issue. In a regulatory filing, the company reported its expenses were driven by spending for fuel and oil, which stood at P11.746 billion, P2.1 billion higher than in the same period last year. — Denise A. Valdez

Peso slumps to fresh low

THE PESO slumped against the dollar on Friday on the back of a wider local trade deficit.
The local unit ended Friday’s session at P52.70 against the greenback, 21 centavos weaker than the P52.49-per-dollar finish on Thursday.
This was the peso’s weakest close in nearly 12 years or since its its P52.745 finish on July 19, 2006.
The peso slipped against the dollar immediately, opening the session at P52.54, which was also its best showing for the day. Meanwhile, it slipped to a low of P52.71 versus the US currency.
Dollars traded soared to $724.2 million from $457.4 million that switched hands the previous day.
Traders said the peso slipped following the trade data released earlier today.
“The trade deficit data is a big factor today. It continues to be one of the biggest factors hounding the peso,” the trader said in a phone interview on Friday.
The country’s trade deficit widened in April as imports grew by double digits, while exports contracted anew, data from the Philippine Statistics Authority released on Friday showed.
Exports declined to $5.11 billion in April by 8.5% from the same period last year. Meanwhile, the country’s imports surged 2.22% year-on-year to $8.729 billion during the month.
This brought the country’s balance of trade to a $3.616-billion deficit in April from the$1.554 billion logged a year ago.
ING Bank N.V. Manila branch senior economist Jose Mario I. Cuyegkeng said the trade deficit supported by strong imports and weak exports will continue to pressure the local currency.
“Such a weak external payment position would continue to pressure [the Philippine peso] and increase the risk of lower foreign exchange reserves this year,” Mr. Cuyegkeng said in an e-mail.
On Thursday, the Bangko Sentral ng Pilipinas said the country’s dollar reserves dropped to a three-year low of $78.968 billion in May as the central bank used the reserves to temper sharp swings in the peso exchange amid higher gold valuations and its debt payments.
“Definitely the downbeat local trade data, along with trade fears abroad, aggravated the depreciation of the peso,”added another trader.
He said fears of a trade war were revived ahead of the G7 summit as the United States is reportedly not attending to make way for the scheduled talks with North Korea in Singapore.

PSEi slumps as trade deficit widens sharply

By Arra B. Francia, Reporter
SHARES slumped on Friday, as the statistics office reported the Philippines’ trade deficit widened to a four-month high in April.
The bellwether Philippine Stock Exchange index (PSEi) fell back from the 7,800 level, dropping 0.80% or 62.57 points to finish at 7,740.74. The broader all shares index also went down 0.72% or 33.76 points to 4,690.10.
“Philippine markets traded lower on choppy trading from the region and the widening trade gap data that was just released this morning,” Regina Capital Development Corp. Managing Director Luis A. Limlingan said in a mobile message.
The Philippine Statistics Authority reported on Friday that the country’s trade gap widened to $3.62 billion in April, more than twice the $1.55 billion deficit seen in the same month in 2017.
Exports fell 8.5% to $5.11 billion in April, its fourth consecutive month of decline. Meanwhile, total imports jumped 22.2% to $8.73 billion during the period.
Most Asian markets as investors once again turned cautious amid rising trade concerns between the United States and China. Japan’s Nikkei 225 dropped 0.56% to 22,694.50, breaking its four-day winning streak Korea’s KOSPI index also fell 0.77% to 2,451.58, while MSCI’s index of shares in the Asia Pacific ex-Japan also slowed by 1.31%.
Meanwhile, Wall Street ended mixed on Thursday, with the Dow Jones Industrial Average gaining 0.38% or 95.02 points to 25,241.41. The S&P 500 index went down by 0.07% or 1.98 points to 2,770.37, while the Nasdaq Composite index declined by 0.7% or 54.17 points to 7,635.07.
“The US market declined yesterday as traders were cautious as leaders of the Group of Seven Nations kicked off a summit in Canada…although the Dow Jones Industrial Average rose 95 points or 0.4%…with about two-thirds of the blue-chip companies finishing higher,” Mr. Limlingan said.
The G7 summit involves leaders of Canada, France, Japan, Germany, Italy, the United Kingdom, and the United States. The two-day summit is scheduled for June 8-9 in Canada, yet it has already dampened investor sentiment due to US President Donald J. Trump’s pronouncements against Europe and Canada.
Back home, the services counter was the lone sub-index that ended in positive territory, rising 0.21% or 3.17 points to 1,502.77.
Property shed 1.14% or 43.70 points to 3,804.22, followed by holding firms that went down 1.12% or 87.10 points to 7,664.86. Financials gave up 0.86% or 16.60 points to 1,925.89, while mining and oil fell 0.48% or 48.88 points to 10,195.13. Industrial ended 0.07% or 7.80 points lower to 10,865.40.
Some 826.82 million issues switched hands, resulting to a value turnover of P5.28 billion, slowing down from the previous session’s P6.93 billion.
Decliners outpaced advancers, 116 to 83, while 41 issues remained unchanged.
Foreign investors maintained their selling mode, with net outflows climbing to P671.65 million, higher than Thursday’s P486.83 million.

Anti-discrimination bill’s passage ‘possible,’ Sotto says

SENATE President Vicente C. Sotto III on Friday said the Anti-Discrimination Bill has a “good chance” to hurdle Senate if its controversial provisions are settled.
“Pwede [Possible],” Mr. Sotto told Senate reporters in a text message on Friday when asked if the bill would pass this Congress.
The bill’s enactment is possible “if the controversial provisions are settled. It has a good chance if it is confined to non-discrimination in employment, treatment in society and non-controversial provisions,” he explained.
The controversial provisions in the bill, Mr. Sotto also said, include the “removal of dress codes, encroachment into religious and academic practices, the use of women’s restrooms, among others.”
Under Senate Bill (SB) No. 935 or the proposed Anti-Discrimination Act filed by Senator Ana Theresia Hontiveros-Baraquel, any person who violates the law will be “penalized by a fine of not less than P100,000 but not more than P500, 000 or imprisonment of not less than one year but not more than six years, at the discretion of the court.” — Arjay L. Balinbin

Swiss challenge for Marawi rehab may start next week

THE Swiss challenge for proposals on the rehabilitation of Marawi City will start on Tuesday should negotiations with a consortium be successful, the concerned government inter-agency task force group announced on Friday.
Eduardo D. del Rosario, chairperson of the Housing and Urban Development Coordinating Council (HUDCC) and Task Force Bangon Marawi (TFBM), said in a press briefing at the Palace on Friday that the Swiss challenge period for Marawi rehabilitation proposals will begin on Tuesday next week.
“As of today, nasa finishing touches na ‘yung negotiation with the Bangon Marawi Consortium (BCM). And if there will be a successful negotiation that would be declared by Monday, then on Tuesday the Swiss challenge will start,” Mr. del Rosario said.
The official added the groundbreaking ceremony will take place by “first week of July.”
Asked why the agency keeps changing the schedule, Mr. del Rosario explained: “We do not like to rush things. Otherwise hindi natin makikita ng maganda yung specifications at quality na gagawin na mga infrastructures. Madugo ang aming ginagawang negotiations, we do not want na ma-compromise ang quality as well as the cost.”
Asked whether the said schedule is already final, Mr. del Rosario said it is “90-95% final for now.”
“Everything is fluid. We are working on a timetable. Maybe July 5-6 (for the groundbreaking) is [also] 90-95% accurate.”
The rehabilitation plan, according to Mr. del Rosario, will be presented to President Rodrigo R. Duterte at the next Cabinet meeting.
For his part, Col. Antonio Z. Francisco, Jr. of the Civil Relations Services of the Armed Forces of the Philippines (AFP) reported the amount of “P38.8 million for surveying of Camp Ranao and the P51.3 million intended for purchase of land area for a military camp have been approved.”
On the opening of classes in Marawi City, HUDCC Secretary Falconi V. Millar said over 14,000 students are currently enrolled in more than 30 primary and secondary public schools for the School Year2018-2019.
“There are 47 schools outside the most affected area (MAA), but some schools that are too close to each other were merged by the Department of Education DepEd) instead in order to maximize the resources and manpower,” he said. — Arjay L. Balinbin

Micab partners with Huawei for customized tablets for drivers

TAXI-HAILING firm Micab Systems Corp. formalized a deal with technology giant Huawei on Friday for the provision of customized tablets for its drivers.
In a press briefing in Taguig City, Micab Chief Executive Officer Eddie F. Ybañez and Huawei executives bared the details of their partnership.
“Huawei is very instrumental in terms of implementing Micab, because basically what they’ve done is they’ve customized these tablets to work in the environment inside taxi cabs. They created a specialized hardware for us to fit the taxi setup, and created a customized software because of the heat and the effects to the battery,” Mr. Ybañez said.
Henry Hsiao, Huawei’s account manager for the Device Marketing & Service Department, said the two companies started talking in 2017 on the partnership. Huawei sent engineers to the Philippines to study the nature of the tablets’ usage, and from there developed their existing consumer tablets to meet the observed conditions.
He noted that unlike the products available in the market, the customized tablet for Micab has a stronger battery that can keep running all day, can withstand the Philippine heat even when mounted on a dashboard, and is more durable in its ability to handle vibration in the car.
“Micab is the first one in the Philippine market (to tap Huawei) for the taxi industry. So I see it’s very interesting, a project with huge potential,” Mr. Hsiao said.
Around 6,000 seven-inch tablets have already been deployed for operations nationwide. Mr. Ybañez told BusinessWorld that taxi operators pay P600 a month for the plan, which includes the Huawei tablet and the long-term evolution (LTE) data connection, provided by Smart Communications, Inc.
Mr. Hsiao noted that Huawei has a dedicated team that continues to study how to develop bigger tablets to cater to Micab’s need for advertising placements.
Micab uses ads to generate revenue, through a separate partnership with Japanese company Hallohallo Business Inc. So far, around 500 10-inch tablets have been deployed for this purpose. These are attached to the back of the front seats for the passengers to view.
The company initially ordered 12,000 of the customized seven-inch tablets from Huawei. They already took hold of the 6,000 and will receive the remaining tablets as it expands its taxi fleet.
Since it was accredited by the Land Transportation Franchising and Regulatory Board (LTFRB) in April, Micab now runs a combined 6,000 taxis in Cebu, Manila, and Baguio. The company said it is working to increase the numbers to 5,000 units in Cebu by June, and 5,000 in Manila by July. Mr. Ybañez said they only have 1,600 taxis in Manila as of now, which is far below the demand for 25,000 trips that they receive every day.
He told BusinessWorld that the ride-hailing service will be entering Iloilo next month with 300 taxis. They also have Davao and Cagayan De Oro in the pipeline, scheduled for next year. — Denise A. Valdez

Rough start for Philippine women’s team at 3×3 World Cup

By Michael Angelo S. Murillo, Senior Reporter

BOCAUE, BULACAN — The Philippine women’s team had a tough start to its FIBA 3X3 World Cup campaign, losing its opening two games in Day One of the tournament on Friday at the Philippine Arena in Bocaue, Bulacan.

Team Philippines, composed of national team members Jack Animam, Afril Bernardino, Gemma Miranda and Janine Pontejos, lost to the Netherlands, 21-11, in its opening game before bowing to Germany, 12-10, later in the day.

Against Germany, the Philippines showed more composure but just could not hit the needed shots in the end to hack out the win.

The Germans started the game with a 3-0 run.

But the Philippines would narrow the gap after with baskets from Misses Animam and Bernardino, coming to within one point, 3-2, with 6:34 left on the clock.

Behind Luana Rodefeld and Laura Zdravevka though the Germans would keep the home team at bay.

The score was at 11-9, and Germany up, with 2:16 to go after which the two teams exchanged baskets.

Down by two, 12-10, the Philippines tried to even the count, but four attempts from two-point territory failed to connect, sending the team to its second defeat.

Ms. Bernardino finished the game with six points while Gemma Miranda had two.

Misses Zdravevska and Wiebke Bruns paced Germany with four points each.

AGAINST THE NETHERLANDS
Earlier in the day, Team Philippines stood toe-to-toe with the Dutch players in the early goings of their game but faltered as the game progressed en route to the 21-11 defeat.

Ms. Pontejos led the Philippines against the Netherlands with six points, all coming from two-point territory with Ms. Bernardino adding four. Ms. Animam accounted for the remaining point.

Karin Kujit, meanwhile, led the Netherlands with eight points, four coming from two-point land.

“The effort was there but we are up against more experienced teams and it showed today. But we hope to learn from this. I always say exposure is the key in these kinds of tournament,” said coach Patrick Aquino.

The Philippine women’s team next plays on Sunday, June 10, against Spain and Hungary in Pool D.

The Philippine men’s team composed of Philippine Basketball Association stars Stanley Pringle, Christian Standhardinger, Troy Rosario and Roger Pogoy begins its World Cup campaign on Saturday, June 9.

The FIBA 3×3 World Cup is ongoing until June 12.

Swiss challenge period for Marawi rehab proposals to start June 12

The government inter-agency task force group for the rehabilitation of Marawi City announced on Friday, June 8, a new schedule for the Swiss challenge period for proposals.
Eduardo D. del Rosario, chairperson of the Housing and Urban Development Coordinating Council (HUDCC) and Task Force Bangon Marawi (TFBM), said in a press briefing at the Palace on Friday morning that the Swiss challenge period for Marawi rehabilitation proposals will begin on “Tuesday” (June 12).
“As of today, nasa finishing touches na ‘yung negotiation with the Bangon Marawi Consortium (BCM). And if there will be a successful negotiation that would be declared by Monday, then on Tuesday the Swiss challenge will start,” Mr. del Rosario said.
The official also said the groundbreaking ceremony will take place by “first week of July.”
Whether the said schedule is already final, Mr. del Rosario said it is “90-95% final for now.” He added, “Everything is fluid. We are working on a timetable. Maybe July 5-6 (for the groundbreaking), is [also] 90-95% accurate.”
The rehabilitation plan, according to Mr. del Rosario, will be presented to President Rodrigo R. Duterte during the next Cabinet meeting. — Arjay L. Balinbin

Stocks slide as trade grap widens

Shares slumped on Friday, June 8, tracking the slower performance of regional markets alongside the widening trade gap reported for April.
The bellwether Philippine Stock Exchange index fell back from the 7,800 level, dropping 0.80% or 62.57 points to finish at 7,740.74. The broader all shares index also went down 0.72% or 33.76 points to 4,690.10.
“Philippine markets traded lower on choppy trading from the region and the widening trade gap data that was just released this morning,” Regina Capital Development Corp. Managing Director Luis A. Limlingan said in a mobile message.
The Philippine Statistics Authority reported on Friday that the country’s trade gap widened to $3.62 billion in April, more than twice the $1.55 billion deficit seen in the same month in 2017.
Exports fell 8.5% to $5.11 billion in April, its fourth consecutive month of decline. Meanwhile, total imports jumped 22.2% to $8.73 billion during the period.
Most Asian markets as investors once again turned cautious against trade concerns between the United States and China. Japan’s Nikkei 225 dropped 0.56% to 22,694.50, breaking its four-day winning streak Korea’s KOSPI index also fell 0.77% to 2,451.58, while MSCI’s index of shares in the Asia Pacific ex-Japan also slowed by 1.31%.
Meanwhile, Wall Street ended mixed on Thursday, with the Dow Jones Industrial Average gaining 0.38% or 95.02 points to 25,241.41. The S&P 500 index went down by 0.07% or 1.98 points to 2,770.37, while the Nasdaq Composite index declined by 0.7% or 54.17 points to 7,635.07.
The services counter was the lone sub-index that ended in positive territory, rising 0.21% or 3.17 points to 1,502.77.
Property shed 1.14% or 43.70 points to 3,804.22, followed by holding firms that went down 1.12% or 87.10 points to 7,664.86. Financials gave up 0.86% or 16.60 points to 1,925.89, while mining and oil fell 0.48% or 48.88 points to 10,195.13. Industrial ended 0.07% or 7.80 points lower to 10,865.40.
Some 826.82 million issues switched hands, resulting to a value turnover of P5.28 billion, slowing down from the previous session’s P6.93 billion.
Decliners outpaced advancers, 116 to 83, while 41 issues remained unchanged.
Foreign investors maintained their selling mode, with net outflows climbing to P671.65 million, higher than Thursday’s P486.83 million. — Arra B. Francia

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