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PXP Energy Corp.’s Annual Stockholders’ Meeting set on July 8 at Grand Hyatt Ballroom III

 

 

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Impact Pioneers Network awards grants to climate startups

L-R: AC Dy, head of Incubation and Venture Support of Villgro Philippines; Diane Estepahine Bagui, program officer of Forest Foundation Philippines; John Altomonte, Corporates for a Better Planet Program (CBPI) lead of WWF-Philippines; Audrey Tangonan, CEO and founder of Sinaya Corp.; Joseph Amiel Camingal, CEO and founder of Hive Energy Philippines; Mari Martirez, CEO and co-founder of Rezbin Waste Technology, Inc.; James Soriano, vice-president of Investments of Pasudeco; Greg Moral-Perez, director — Investments of Impact Pioneers Network and director of xchange; and Priya Thachadi, co-founder of Impact Pioneers Network and CEO of Villgro Philippines

By Angela Kiara S. Brillantes, Special Features and Content Writer

As the planet continues to deal with environmental problems, impact investing has become a tool to support and bring about significant change on a larger scale. For instance, investments in climate startups are building more resilient and sustainable communities.

To catalyze local investing and support promising businesses, Impact Pioneers Network (IPN), a first-of-its-kind impact investment network in the Philippines hosted an event titled, “Climate Catalyst: Accelerating Investment in Climate Startups,” featuring climate startups and their innovative solutions, highlighting their critical role in addressing climate mitigation and adaptation.

During the said event, held last June 5 in Makati City, IPN announced the winners for its “Climate Catalyst Startup Pitch Competition.” Climate startups were given the opportunity to share their innovative visions and projects, inspiring and supporting these enterprises in driving impactful solutions that bring about sustainable change and propel the country towards a net-zero future.

Nine early-stage startups presented their climate innovations, namely: Hive Energy Philippines, Sinaya Corp., Dewaste Solutions, Rezbin Waste Technology, Inc., LITHOS Manufacturing, Galansiyang, Inc., FiveDOL Upcycling Corp. (LimaDOL), The Aquaculture Group, and Young Farmers Club of Zambales, Inc.

Hive Energy Philippines, a renewable energy startup from Oriental Mindoro, is the winning entry that won the grand prize of P100,000 with business mentorship and technical support for their solar energy solutions, catering to commercial, residential, and industrial sectors.

From charging devices to powering an entire house, Hive Energy Philippines offers a wide range of power solutions that are affordable, accessible, and sustainable at the same time. These solutions aim to address customers’ energy needs, all while improving energy security, accessibility, increasing comfort, and preserving the ecosystem.

In line with their unwavering commitment in promoting energy empowerment, Hive Energy Philippines will use the prize to support further research and development efforts, which aims to enhance renewable energy and its accessibility to all.

Another notable winner, Sinaya Corp., was granted P50,000, technical support, and business mentorship from IPN. The startup is the founder of the first local menstrual cup that provides high-quality menstrual management products and promote proper reproductive and hygiene education. This user-friendly product helps Filipino women to become more comfortable, eco-friendly, and reduce country’s waste.

The third prize was awarded to Rezbin Waste Technology, a startup that focuses on revolutionizing the waste disposal industry in the Philippines. It uses cutting-edge technology that recycles all plastic collected, ensuring a cleaner and more sustainable environment.

Impact investing

The event also featured discussions on financing climate startups in the Philippines, as well as expounding on the importance of impact investing, supporting local impact enterprises that address urgent social and climate issues, catering to the needs of both local and global communities.

“Impact investing channels much-needed risk capital to entrepreneurs who are addressing some of the most pressing issues of our time, including climate change. Unlike traditional investments that primarily focus on financial returns, impact investing aims to generate financial, social, and environmental benefits alongside financial returns. It catalyzes solutions that can create sustainable change and push us forward to net zero,” Priya Thachadi, chief executive officer of Villagro Philippines and co-founder of IPN, said in her opening remarks.

A panel discussion was led by climate startup leaders from Agro-Digital PH, Suds Sustainable Pods, Negros Women for Tomorrow Foundation, Inc., and Magnus Renewable Tech Corp. The panelists shared about the challenges and risks their businesses have faced, including limited access to funding, regulatory hurdles, and the need for specialized knowledge and mentorship.

All three startups have received investments through the IPN to grow their models and increase their impact footprint.

“Filipino climate startups often face difficulties in securing early-stage and growth capital due to a smaller pool of local investors focused on climate innovation versus our counterparts in other countries,” Andy Coscolluela, strategic projects manager of Negros Women for Tomorrow Foundation, Inc., said during the panel discussion.

Unlocking opportunities through impact investing is thus more important than ever because without the right kind of funding, there’s a limit where enterprises can get to, no matter how innovative the solutions are.

The discussion also highlighted that collaboration and partnerships play a big role in supporting these types of initiatives.

“We started in 2020 and we operated very small. When we needed outside funding, it’s also finding the right partner who would be committed as you in executing your mission. For us, finding that [outside partner] brought us not only financial support but also mentorship and network which what brought us here now,” shared Jean Magboo-Yuzon, co-founder of Suds Sustainable Pods.

For Greg Perez, director of xchange, one of IPN’s co-managers, impact investing in the Philippines, which is currently the second-largest impact investing market in Southeast Asia in terms of number of deals, is expected to grow more over the next decade.

“Increased awareness of environmental issues as well as the urgent need to reduce carbon emissions, along with a growing ecosystem of socially conscious entrepreneurs, are likely to drive sustained growth,” Ms. Perez said.

IPN also recently announced three new investment deals facilitated through their Working Capital Facility to provide financial support to three local impact enterprises Magnus Renewable Tech Corp., Agro-Digital PH, and Suds Sustainable Pods to scale their operations.

La Salle Green Hills wins grand prize at Enderun Colleges’ The Next Bright Idea 12

The Next Bright Idea 12 Grand Champion RyzaBond of La Salle Green Hills with executives from Enderun Colleges

Enderun Colleges’ annual business pitch competition, The Next Bright Idea, concluded its 12th season with the grand awarding ceremony that recognized the most innovative and sustainable business ideas from Grades 10-12 students across the Philippines.

This year marked the largest competition to date, with a remarkable 93 team registrations from various high schools nationwide. Out of these 93 teams, only 10 teams qualified for the final round, showcasing the best and brightest ideas.

Prior to the competition, Enderun hosted three sessions of the Enderun Entrepreneurship Masterclasses. These sessions were designed to provide all participants with equal learning opportunities, equipping them with essential skills and knowledge for their business idea submissions.

The competition celebrated innovative ideas aimed at fostering sustainability. La Salle Green Hills impressed the judges and won the grand champion title with “RyzaBond,” a cost-effective, eco-friendly adhesive made from locally sourced rice husk and rice bran starch, offering strength comparable to both basic bio-adhesives and synthetic adhesives while being biodegradable and non-toxic.

Ecofil from Life Academy International earned the first runner-up spot by showcasing R3 Filament, which transforms discarded PET plastic bottles into high-quality, eco-friendly 3D printing filaments to combat pollution and promote sustainability in the Philippines.

The second runner-up position went to “Three Birds, One Stone,” also from La Salle Green Hills, for presenting the Banana Leaves Wax (BLW) Cloth Packaging, a reusable, eco-friendly food packaging made from banana leaf wax, chitosan, jojoba oil, and upcycled cotton cloth, designed to reduce plastic, agricultural, and fabric waste in the Philippines.

The winning teams received medals, plaques, and cash prizes worth P50,000, P20,000, and P10,000.

The event was graced by notable attendees and judges, including Daniel Perez, chief operating officer of Enderun Colleges; Lou Molina, director for college program development and branding at Enderun Colleges and the creator of The Next Bright Idea; Ray Estrada and Marivic Ignacio, both faculty members of the College of Business at Enderun Colleges; Mhyles Oliva, director of sustainability and head of academics at Enderun Colleges; and Larry Gamboa, PhD, resident judge and author of Think Rich, Pinoy!.

“Tonight we honor each of you for your unique ideas, your perseverance, and your entrepreneurial spirit. We believe that this experience will propel your motivation to become an entrepreneur one day,” Ms. Molina said, emphasizing the importance of fostering young talent.

“Entrepreneurship is not just about making money,” Mr. Perez added. “Being an entrepreneur is a very noble calling because you solve problems and help improve other people’s lives. And through your business and projects we provide purpose for other people to join your vision to impact wonderful change.”

Choosing the right vehicles for your company’s fleet

Photo by katemangostar on Freepik

As an archipelago with more than 7,000 islands, the Philippines faces unique logistical and mobility challenges that make fleet leasing an attractive option for businesses and foreign investors. According to Automotive Fleet Magazine, multinational companies perceive the country as the third largest vehicle fleet market in Asia, only behind Japan and India, with the industry dominated by local and small lessors.

When mulling over the right automotive for your fleet in a diverse and geographically complex country like the Philippines, several factors must be considered to ensure efficiency, sustainability, and cost-effectiveness that meets business needs and regional demands.

According to Web-based fleet system Chevin, one of the most important things to consider whether to buy vehicles, finance fleet purchases, or lease vehicles is its utility to its users. Although some brands of car manufacturers are more appealing than others, focusing on car features and capabilities directly impacts the performance, reliability, and efficiency of the vehicle fleet and can be more practical and affordable.

Finding out the right size, style, and carrying capacity of a vehicle is essential in the operation of a fleet. The type of vehicle needed for urban deliveries is different from those required for long highway hauls, off-road operations, or even business meetings. To match a vehicle’s capabilities with its intended use is important to ensure efficiency and practicality.

Besides vehicle utility, choosing the right vehicles for your fleet also means sticking with a budget and finding one that will be the best value in the long run. It is important to look beyond the initial purchase price of a car fleet and consider the total cost of ownership throughout its operation.

In budgeting for a car fleet, some components must be considered to reduce costs and be more economically efficient.

With gas prices fluctuating weekly, fuel economy becomes critical as it impacts the operating costs. Although their prices differ depending on the model and make of a vehicle, maintenance and repair costs can unexpectedly affect the budget as well. Additionally, car insurance costs vary based on vehicle type and frequency of use. Finally, potential resale value should also be evaluated, as it can be considered possible income and offset initial expenses when it’s time to replace or upgrade the fleet.

One way to help ease these costs is through standardizing certain specifications across a fleet of vehicles can help ease these costs by simplifying maintenance and ensuring consistency in performance. An article from Chevin suggests that through setting up guidelines for fuel types, engine sizes, or vehicle features, businesses can streamline maintenance programs, and optimize technician training and parts inventories.

Safety also needs to be a consideration in choosing the right vehicle for a fleet. According to data from the Philippine Statistics Authority, road traffic deaths increased by 39% from 7,938 deaths in 2011 to 11,096 deaths in 2021.

Ensuring that the vehicles chosen have strong safety records can help protect drivers and passengers while minimizing risks. Investing in additional safety features such as automatic emergency braking, lane departure warning systems, and blind-spot monitoring must also be considered as they can reduce accident-related costs and improve fleet safety.

With increasing pressure to reduce carbon footprints and combat climate change, the environmental impact of vehicles must be a pivotal consideration when selecting a fleet. While options like hybrid or electric vehicles are currently sparse in the country’s fleet leasing market, businesses can explore various strategies to mitigate environmental impact.

According to an article by US-based fleet leasing company Ewald Fleet Solutions, an alternative option comes in the form of advancements in petrol engine technology that have enabled car manufacturers to produce vehicles with smaller engines that emit lower carbon emissions. This development offers a viable substitute for fleet leaders seeking to reduce their harm to the environment without immediate access to hybrid or electric vehicles.

Lastly, Ewald Fleet Solutions suggests that the appearance and type of vehicles chosen for fleet leasing can influence how a company is perceived by its customers, stakeholders, and the general public. Selecting vehicles that are in style, modern, and in top shape can convey professionalism, reliability, and a commitment to quality service while outdated or poorly maintained vehicles may project a negative image, and impact customer trust and satisfaction.

Similarly, the type of vehicles chosen can also reflect company values like sustainability and innovation. Choosing eco-friendly or technologically advanced automobiles can be perceived as showing care for the environment and positions the company as forward-thinking.

Considering image and branding in fleet selection decisions makes sure that vehicles fulfill operational needs with a bonus that contributes positively to a fleet leasing company’s reputation and public relations.

Selecting the right automobiles for a fleet needs careful assessment of different elements such as vehicle utility, budget constraints, operational requirements, and environmental impact. By considering thoroughly the said different factors, businesses can choose the vehicles that will suit their needs and so better navigate the logistical challenges they face, and in turn have long-term success and positive impact. — Jomarc Angelo M. Corpuz

Youth movement

From left are Kia Asia-Pacific Head of Product Ezan Ley, Kia Asia-Pacific Head of Sales Joey Hong, ACMobility CEO Jaime Alfonso Zobel de Ayala, ACMobility Head of Automotive Retail and Distribution Toti Zara, and Kia Philippines Chief Operating Officer Brian Buendia. — PHOTO BY KAP MACEDA AGUILA

Kia Philippines pitches ‘affordable’ Sonet to Gen Z, millennial car buyers

By Dylan Afuang

KIA PHILIPPINES, led by the Ayala Corp.’s ACMobility, eyes to boost its sales success by pitching to younger car browsers the Sonet. Replacing the Stonic, the Sonet is now the smallest and most affordable crossover in the brand’s local roster.

The Sonet comes in four trim levels: 1.5 LX MT (P758,000), 1.5 LX AT (P868,000), 1.5 EX AT (P978,000), and 1.5 SX AT (P1.138 million).

The Stonic was “the top-selling nameplate for Kia (locally), accounting for over 40% of sales in recent years,” Kia Philippines President and Head of Automotive Retail and Distribution at ACMobility Antonio “Toti” Zara III said during the Sonet’s public launch in Parañaque City.

“It achieved such volume because it played in the sweet pricing spot,” he continued, explaining that buyers attained the old car’s price range between P750,000 to P1 million. The executive also cited that one of the country’s best-selling cars is priced in that “sweet spot.”

The company counts on the Sonet being priced within the same bracket — and the “market shifting to crossovers and SUVs” — for the new model’s possible success.

“We are excited to offer this modern entry-level SUV, especially to the young millennials and Gen Zs who seek a balance of convenience, technology, and affordability,” Kia Philippines COO Brian Buendia said in a statement.

ACMobility CEO Jaime Alfonso Zobel de Ayala joined during the car’s public unveil, “The arrival of the Sonet shows ACMobility’s commitment to giving Filipinos more reasons to fall in love with the Kia brand again.”

As a nod to its target market, the Sonet’s name is derived from the words “social” and “network,” Kia Asia-Pacific Head of Product Ezan Ley explained.

Design highlights found within the car’s 4,110-mm length, 1,790-mm width, and above-1,600-mm height are the brand signature Tiger Nose grille with a geometric pattern, large headlights with LEDs for the SX variant, and a rear full-width lamp cluster.

Complementing these are three monotone color options Vivid Red, Snow White Pearl, and Imperial Blue. For the SX variant, Vivid Red and Snow White Pearl are paired with a black roof. Pewter Olive, a special monotone color, is exclusive to the SX.

The Sonet boasts an all-digital gauge cluster, while infotainment comes as an eight-inch or 10.25-inch touchscreen system with Apple CarPlay and Android Auto. Passengers fore and aft get USB Type C charging ports. A sunroof and wireless charger also come on select variants.

Powering the car is a 1.5-liter four-cylinder engine that produces 115hp and 144Nm of torque. It is mated to either a six-speed manual or an intelligent variable transmission (IVT).

For safety, there’s Kia’s DriveWise system, which includes Forward Collision Assist, Lane Following Assist, Lane Keeping Assist, and High Beam Assist. These go on top of the standard dual SRS air bags, ABS with EBD, stability control, and rear parking sensors with rear camera.

Also standard on the Sonet is Kia Philippines’ five-year or 160,000-kilometer warranty.

Perks of fleet leasing for businesses

Photo by vectorjauice on Freepik

Global management and consulting firm McKinsey & Company noted in a report that consumer preferences in mobility are changing and, in particular, are now more inclined towards leasing a car than purchasing.

“Consumers say they prefer the shift toward more flexible ownership forms like vehicle leasing. For their next vehicle purchase, about twice as many consumers say they would choose leasing over their current ownership situation. This shift comes at the expense of both traditional outright car purchase and credit financing deals,” McKinsey said.

On a larger scale, organizations can also see vehicle leasing as a viable choice to acquire reliable mode of transportation for running their business in a fast-paced environment. Many businesses find leasing vehicles a practical economic choice as it provides a convenient, hassle-free, and cost-effective transport solution that can benefit an organization.

Leasing vehicles in the business setting is a smart and strategic move that must not be overlooked because it presents a unique opportunity for them to manage operations and their finances effectively.

Fleet management companies and professional services highlight the benefits of investing in car leasing and how it will cater to market needs and consumer preferences.

Flexibility and cost-effectiveness

Unlike purchasing, leasing is more flexible and helps save more money. It provides a great alternative, allowing users to drive the car they want without heavy financial commitment. This means businesses can maintain financial flexibility while still having access to modern vehicles.

Also, with leasing, lessees do not have to bring out a large amount of money upfront. Instead, they can make smaller initial payments which is more manageable and makes it easier to manage finances easily. This financial flexibility is more favorable to businesses looking for affordable vehicle options while enjoying the luxury of driving newer car models without the hefty price tag.

Access to modern vehicles

With leasing, businesses get to enjoy driving newer and modern car models to their liking. They can enjoy driving newer models and more efficient models every few years, keeping pace with the latest trends and technological advancements in the automotive industry. Moreover, these newer models are designed to have lower fuel consumption and are more eco-friendly compared to previous models.

This constant upgrade cycle is especially enticing for those who enjoy keeping up with the newest vehicle features and technologies while also enabling businesses to stay ahead in terms of technological advancements and provide employees with reliable and cutting-edge car technology.

More than that, lessees can also customize their fleet vehicles according to their preferences. In an article from fleet management company Momentum Groups, this means they can avoid wasting money on unused features and instead provide the specs and details they prefer. Also, by ordering directly from the factory, they can steer clear of advertising fees that are usually included by manufacturers.

Tax benefits

Another great perk from leasing a car is the tax benefits it brings. When leasing a car, businesses can deduct lease payments as business expenses, which reduces tax liability and saves money, making it more convenient for businesses.

“For companies, this can also streamline the processes of managing vehicle expenses, as lease payments are consistent and can be easily accounted for in financial planning. Furthermore, the tax benefits associated with leasing can be particularly advantageous in jurisdictions with favorable leasing laws, making it an attractive option in certain regions or countries,” app-based platform Invygo said in an article.

Streamlining operations

Leased vehicles are also advantageous because of leasing agreements that come often with lower maintenance and repair coverage, which helps them avoid unexpected costs and operational downtime in the long term. As a result, this improves fleet management and eases administrative tasks, as fleet management platform Fleethouse stated in an article.

Additionally, with leasing cars, leasing providers are saving businesses the time and hassle by managing vehicle registration and insurance. On top of that, they also offer flexible maintenance contracts that cover inspection, and wear and tear costs, minimizing the risks of unexpected repairs that can hurdle businesses from running smoothly.

Building a better brand image

The brand image of any business is just as important as its vehicles. To elevate brand reputation and experience, choosing the right vehicle for the company is a must. Upgrading to newer models that are more advanced and more customer-facing can bring many benefits to businesses. This approach is effective for industries where appearance holds great importance. It signals to potential clients that it prioritizes quality, comfort, and professionalism, subtly strengthening the brand reputation.

For the said reasons, leasing is a viable choice to consider when getting vehicles to run a business, whether one looks for executive cars, utility vehicles, or trucks. Nevertheless, it will boil down to the vehicle of choice, besides an organization’s budget and other considerations, if leasing will serve the organization best to build and deploy its own fleet. — Angela Kiara S. Brillantes

Muji’s new offers: Soft serve ice cream and embroidery

MUJI UPTOWN MALL

The 7th store in 7 years also has new product lines

THERE’S a new Muji store in town, and it’s in Taguig’s Uptown Mall.

During a store tour on June 6, Muji Philippines Corp. Marketing Manager Christina Dagdag took us to see highlights like the Coffee Counter (where they serve soft-serve ice cream drinks, a first in the country for Muji; as well as use Benguet coffee beans) and the embroidery counter (where customers can take their Muji items to be personalized, for a fee). “A lot of our customers are appreciating the fact that they can personalize their own Muji items,” she said.

The store, according to Ms. Dagdag, spreads over 2,000 square meters, and carries 7,000 Muji products. She pointed to other innovations they have used in the branch, such as using reclaimed tanguile wood in their stamp station.

The store also carries product new lines: there’s a Madras line (a checked pattern from India which is uncharacteristically bright for Muji), a cooling linens line (both pillows and bedsheets), and an innovative Muji Labo line, unisex clothes that can be shared and swapped between genders, thanks to neutral fits and free sizing.

Muji began in 1980 in Japan, and its name derives from the phrase mujirushi ryohin, which means “no brand quality goods.”  According to its Information Disclosure Based on TFCD (Task Force on Climate-related Financial Disclosures) Recommendations, it said that the brand does business in accordance with its corporate purpose: “to contribute to the realization of a truthful and sustainable life for all through our products, services, stores, and business activities that consider the ideal relationship among people, nature, and products, as well as a generous human society.”

Muji has branches at Greenbelt 3, Central Square in BGC, Power Plant Mall at Rockwell, the Shangri-La Plaza East Wing, SM Mall of Asia, SM North EDSA, and Uptown Mall in BGC.

“[This is] Store No. 7, and we also just celebrated our seventh year last April,” pointed out Ms. Dagdag. “It was good timing.” — JLG

PHL draws foreign interest in hydrogen contracts

PHILSTAR FILE PHOTO

MULTIPLE COMPANIES from Australia, Europe, and North America have shown interest in bidding for hydrogen contracts in the Philippines, the Department of Energy (DoE) said.

“(The department was) pleasantly surprised by the level of interest in the areas we are bidding out for hydrogen exploration,” Energy Undersecretary Alessandro O. Sales said in a virtual briefing last week.

In February, the Energy department launched the bidding for coal, petroleum, and native hydrogen exploration in the Bangsamoro Autonomous Region in Muslim Mindanao and other parts of the country.

Under the 2024 Philippine bid round, two pre-determined areas for native hydrogen adjacent to the northern portion of the Zambales Ophiolite Complex and the western portion of Central Luzon are up for bidding.

Both are located in the provinces of Zambales and Pangasinan, covering an estimated 134,096 hectares and 96,439 hectares, respectively.

The deadline for the submission of bids for native hydrogen is Aug. 27.

“These hydrogen contracts are in fact novel in today’s world because, apparently, it’s only the Philippines that has bid an area purposely for hydrogen exploration,” Mr. Sales said.

The DoE recognizes the role of hydrogen in the energy transition “as an innovation capable of meeting future energy demand with various applications in the power, transportation, commercial, and industrial sectors,” the department said.

It organized the Hydrogen Energy Industry Committee to oversee the implementation of a circular dated Jan. 12, which provides the national policy framework and roadmap for hydrogen development.

“The naturally occurring hydrogen has been discovered in Mali and in France so that explains also the high interest in the part of the Europeans. I am sure that even our East Asian neighbors will also be looking at the opportunities in this area,” Energy Secretary Raphael P.M. Lotilla said.

Mr. Sales said that “Japan is moving forward with hydrogen but from a different point of view that is manufacturing hydrogen and as well as China, that is their direction to manufacture hydrogen from electrolysis.”

“But what we’re doing is enabling the other side of it, producing naturally occurring hydrogen,” he said. — Sheldeen Joy Talavera

Expanding universe

The MG G50 Plus MPV starts from P1,048,888. — PHOTO BY KAP MACEDA AGUILA

SAIC Motor PHL fields ‘segment-first’ MG3 hybrid hatch and new MG G50 Plus MPV

By Dylan Afuang

WIDELY CONSIDERED to be strong-selling vehicle classes here are the subcompact and multi-purpose vehicle (MPV) segments. Local MG distributor SAIC Motor Philippines recently fielded the MG 3 and G50 Plus in these two sectors, respectively.

The 3 subcompact hatchback banners a “first-in-class” hybrid-electric power (in addition to an entry-level internal combustion engine) iteration, while the G50 Plus MPV is intended for families with its seven- or eight-seater cabin configurations.

“These are game-changers in their respective segments,” SAIC Motor Philippines Marketing Director Dax Avenido boasted during the vehicles’ media introduction and market launch in Makati City.

“The MG 3 is the first in its segment to feature a hybrid engine,” Product and Logistics Manager Glenn Tacardon continued, adding that it is “designed for first-time car buyers, blending advanced features and top-notch performance at unbeatable prices.”

As for the MG G50 Plus, Mr. Tacardon highlighted that the vehicle “delivers excellent value, exceptional performance, and everyday flexibility to meet the diverse needs of modern families and businesses.”

The 3 range starts with the Standard MT (P678,888), then goes up to Comfort CVT (P828,888), Luxury CVT (P898,888), all the way to the range-topping Hybrid+ model (P1,088,888).

The G50 Plus guises come in entry-level Standard MT (P1,048,888), Comfort (P1,188,888), and top-of-the-line Lux (P1,288,888).

With regard to the 3’s highlight powertrain, it’s a 1.5-liter non-turbo gasoline engine paired with an electric motor. It gets a three-speed hybrid transmission that spins the front wheels. The total system output is 187hp.

Moving down the range, the hatchback uses a 1.5-liter naturally aspirated gasoline mill that makes 118hp and 150Nm of torque and, depending on the variant, is mated to either a five-speed manual or a continuously variable transmission.

Standard equipment across the range is a seven-inch digital instrument cluster, and for the rest, bar the base variant, a 10.25-inch infotainment system with Apple CarPlay and Android Auto connectivity.

Exclusive to the 3 Luxury and Hybrid are rain-sensing wipers, a 360-degree-view camera, lane departure alert, lane watch, lane-keep assist, and a pre-collision system.

To accommodate eight or seven passengers, the G50 Plus Standard and Comfort variants’ second row comes as a sliding bench that seats three abreast, while the Lux comes with a pair of captain chairs for two. In whichever trim level, the MPV’s third row seats three.

From Standard to Lux models, they all utilize the same 1.5-liter turbo engine, which courses 179hp and 285Nm of torque to the front wheels through a six-speed manual in the base model and a seven-speed dual clutch automatic in the mid- and top-spec.

All models, apart from the base one, come with an Apple CarPlay- and Android Auto-compatible infotainment system. This system is paired with four speakers in the Standard and Comfort models, and six with Lux. Another feature unique to the G50 Plus Lux is leather-upholstered seats.

For safety, the upper two models come with a reverse camera and the base model with sensors. Standard safety equipment includes cruise control, hill start assist, tire pressure monitoring system, and stability control.

All local MG cars now come with five-year warranty, sixth-month free periodic maintenance service (PMS), and three years of free roadside assistance. On top of these, the G50 Plus offers three-year free PMS, six-year engine warranty, and five annual free safety inspections.

Hyundai opens N Pop-up store at Karrera Showroom, showcasing the Elantra N and IONIQ 5 N

Hyundai Motor Philippines Inc. (HMPH) will open its N Pop-up Store at Karrera Showroom, Bloc10 Filinvest Alabang, this summer, starting from June 15 until Aug. 19. Customers can now see the Elantra N and IONIQ 5 N in full metal at the motorsport themed café and showroom. As a renowned hub for automotive culture enthusiasts to gather, Karrera Showroom is a prime spot for Hyundai to introduce and evoke excitement behind N to the car enthusiast community.

“Hyundai is thrilled to be bringing N to Karrera Showroom. We are excited for everyone to get the chance to visit and view the Elantra N and IONIQ 5 N up close. Grounded on the three N core values which are Corner Rascal, Racetrack Capability, and Everyday Sports Car, these vehicles represent the brand’s passion for high performance. Aside from the N vehicles, exclusive N merchandise will also be available for you to purchase,” said Cecil Capacete, HMPH Managing Director.

Hyundai N is known to push the boundaries of high-performance motorsports, and the Elantra N and IONIQ 5 N epitomize the brand’s vision to Innovate Everyday. With the Elantra N’s roots in the multi-awarded Elantra N TCR, it is equipped with a powerful 2.0 turbo-charged engine paired with an 8-speed dual clutch transmission, which produces a maximum of 276hp and torque of 392nm. The award-winning IONIQ 5 N, on the other hand, is a high-performance EV powered by a dual-motor All-Wheel Drive (AWD) system. Equipped with N Grin Boost, which produces up to 650ps of power, it takes just 3.40 seconds to boost from 0 to 100-km/hr with the IONIQ 5 N. Both cars are equipped with N-exclusive features that provide its drivers with a unique and customized driving experience.

Customers can check out the Elantra N and IONIQ 5 N at Karrera Showroom, open from June 15 to Aug. 19. The N Pop-up store welcomes everyone from Tuesdays to Sundays, 9 a.m.-7 p.m.

To learn more about Hyundai N, visit https://www.hyundai.com/ph/en/hyundai-n and follow @HyundaiMotorPhilippines on Facebook and Instagram.

 

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Startup ecosystem in Southeast Asia shows signs of maturity — HubSpot study

Customer platform HubSpot recently announced the findings of a study conducted by Milieu Insight that explored the trends and innovations shaping the startup landscape in Southeast Asia and India.

HubSpot’s new report reveals that on average, about half (53%) of startups across the region found it easier to grow their businesses in the past year compared to previous years. Notably, startups recognize the need to balance growth and profitability, with the majority of regional startups agreeing that a clear path to profitability (98%) has become more important in the last year as compared to the years prior.

This resilience is characterized by an interesting dichotomy: while geographical expansion presents challenges, with 23% of startups finding it harder to enter new markets, customer acquisition and retention have become more manageable. Although 18% mentioned that acquiring customers has become more challenging, more than half (55%) of startups report improvements in customer acquisition and retention. Increased competition (31%), stricter customer demands (31%), and access to capital (29%) were cited as the key challenges to customer acquisition among those who mentioned acquiring customers have gotten harder.

“These signs of growing resilience are a testament to the region’s entrepreneurial spirit and adaptability,” Laurence Butler, global senior director of HubSpot for Startups, said. “While digital transformation has been a focus among the region’s SMBs in recent years, the digital-first nature of modern startups empowers them to swiftly adapt to volatile market conditions by leveraging data analytics and foundational technologies such as CRM platforms. Most startups now recognize the critical importance of having a clear path to profitability, marking a shift towards focusing on core markets and building robust customer relationships, which are crucial for long-term sustainability.”

The survey findings also revealed that startups in the region have built a robust foundation of technology and are leveraging their tech stack to collect, structure, and analyze customer data to drive business growth.

Almost all (99%) startups say they are using at least one CRM tool and eight in ten (81%) startups are satisfied with their tech stack. CRM platforms consolidate customer data from multiple sources, creating a single source of truth that enables brands to accurately track and measure the impact or effectiveness of their customer engagement efforts.

Consequently, 71% of startups surveyed perceive that they have an adequate amount of data at their disposal to identify new opportunities for business growth. The collective use of data and technology is not only helping drive innovation and build better customer relationships, but may have also contributed to the enhanced resilience and adaptability of startups in the backdrop of a persisting global funding winter.

The report also uncovered a disparity between countries surveyed. More than a third of startups (38%) in the Philippines reported a lack of sufficient data on their business prospects and the customer journey. Only 58% of startups in the Philippines indicated satisfaction with their tech stack, the lowest among all countries surveyed. This could have contributed to local startups’ inability to collect the right data for better decision-making and also their growth prospects. Nearly half (48%) expressed that it is more difficult than before to grow their companies, almost double the regional average of 25%.

Talent Gaps

The report also shows that startups are struggling to fill key positions, with marketing (46%), customer success (40%), as well as sales and business development (38%) roles being the most difficult to hire for among go-to-market positions.

For non-go-to-market positions, AI and machine learning engineers top the list of hardest-to-hire roles (35%), followed closely by experts in data analytics (33%), product management, (33%) and industry-specific specialists (33%). Software engineers also remain in high demand (32%).

Cost and experience are identified as the primary shortcomings in the current talent pool across the region. Other challenges include a lack of soft skills among candidates and mismatch of expectations regarding remote and hybrid working arrangements.

Role of AI

The majority of startups across the region (98%) agree that AI is important in their future strategy, particularly among those in India and Indonesia. 73% of respondents in India and 63% in Indonesia strongly agreed with this statement, the highest sentiments registered among all countries surveyed.

In terms of key opportunities, 32% of startups see AI as a way to bring products to market faster; 30% believe AI can help in delivering products more quickly; and 30% view AI as a tool to level the playing field against bigger competitors and incumbents.

These findings were based on responses from 600 startup founders and decision-makers across Singapore, Indonesia, the Philippines and India. The research was conducted from last February to March.

Shorts at the office? Go for it

DFY_SEOUL/UNSPLASH

By Sarah Carmichael

AS SUMMER heats up, the vicious debate that has held our polarized nation hostage is reaching new levels of vitriol. I’m talking, of course, about the rift between men who wear shorts to the office, and those who consider them a workwear abomination.

On the West Coast, particularly in the tech sector, wearing shorts to the office is perhaps unremarkable. But in parts of the Northeast, ask a man if wearing shorts to work is acceptable and he may well scoff, “Only for the UPS guy.”

And so every summer we’re deluged with versions of the “can we wear shorts to the office?” question. “It’s a very bizarre taboo for me,” says Derek Guy, a menswear writer and the comfortingly authoritative voice behind the @dieworkwear X account. “It’s totally normal to wear shorts, and whether you can wear them to the office depends on the office.” It may be a complete nonissue for, say, graphic designers. But white-shoe banks and law firms are another matter.

Yet more and more buttoned-up East Coasters are wondering if they can ditch the long trousers at last. They often point to global warming — last month was the hottest May on record, marking the 12th consecutive month of record temperatures. And women, after all, have long had the option of wearing floaty dresses to work (where we shiver in the air conditioning). Why can’t men show a little leg, too?

But it would seem that, whether Bermuda or cargo or athletic, pleated or denim or chino, shorts aren’t just shorts. Offices are always rife with power dynamics and pecking orders, an ecosystem worthy of David Attenborough narration.

Which forms of dress are acceptable “comes down to norms, and belief systems about professionalism, and how that’s intersected with gender, with race, and with body type and with other structures of power,” says Ben Barry, dean at the school of Fashion at Parsons/The New School. There’s a class dimension too — shorts may be more closely associated with those doing physical labor: roofers, park rangers, and yes, package deliverers.

Of course, the world of tech and startups invented its own rules. There, the power move is to dress like you don’t care. But that too sends a signal. “It wasn’t just that people were dressing down,” says Guy, “It was a symbol that you only cared about meritocracy and that you did not care about the old ways… the only things that mattered were your skills and your ideas.” Think of Mark Zuckerberg’s hoodies or Sam Bankman-Fried’s shorts-with-tube-socks combo.

Although it’s often said that women have more freedom of dress, Guy and Barry think that’s been overstated. Women’s skin tends to be sexualized in a way men’s isn’t; a woman showing “too much” thigh in an office is likely to be judged in moralistic terms. A woman might be able to get away with “formal shorts” (something of an oxymoron) at the office more readily than the average man, but a woman who completely eschews style to SBF-esque levels runs a greater degree of professional risk. And keep in mind that women didn’t have “office clothes” until relatively recently — most female labor historically happened in the home.

Yet for men, at home or out of it, some version of the dark suit has dominated for centuries — Barry points to 18th-century-born dandy Beau Brummell as the one who made it fashionable. And professional clothes seem more resistant to change than our casual attire. Even if a London barrister prefers baggy sweatpants on her weekends, she’ll still argue her cases in a white wig.

But the meaning of clothes does evolve. A century or so ago, a three-piece suit was called a lounge suit and seen as far less formal — a kind of 19th-century athleisure. Think of those grainy photos of men mountaineering in wool trousers, complete with jacket and waistcoat. And if the Patagonia vest was once a symbol of an outdoorsy lifestyle, it’s now become something else entirely: a way for desk-bound men to signal their aspiration to spend time in nature, or just a way to display their membership in a particularly preppy tribe.

So, what about the shorts? Showing skin used to be a real no-no for men in office environments. But as dress becomes more casual (a trend that’s accelerated with the adoption of remote and hybrid work) and mainstream men’s fashion increasingly appropriates from queer culture, says Barry, showing some leg is no longer seen as the same challenge to professionalism or masculinity.

Or as Guy puts it, “I don’t think it’s a big deal to see a man’s knees.”

Many younger workers agree with them. Older workers may push back on new fashions not because of any practical reason, but because they feel threatened — changing office fashions are a very visible signal that a new generation is gaining ground.

Back in 1971, Harvard Business Review surveyed readers on how’d they’d respond to a “capable young manager in a financial services company” who suddenly sports “long sideburns” and “bell-bottom trousers.” Fully half said this hippie attire warranted a managerial sit-down, and another third said if his clothes irritated people he should “change his ways or begin hunting for another job.” That leaves fewer than one in five who said his groovy threads were purely his own business.

Today’s office may no longer be quite as conformist, but the frontline of fashion is always advancing. Who would have guessed, in 1971, that half a century later we’d be dealing with naked dressing?

That’s one way to cope with global warming, I suppose.

BLOOMBERG OPINION

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