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Strategies to empower women professionals in your organization

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Recent shifts in corporate boards is seen, with more women stepping into important positions. According to a recent survey conducted by multinational technology company IBM, representation of women in leadership roles has significantly increased in 2023. Notably, the number of female CEOs jumped from 31% in 2019 to 54% in 2023. This progress shows the talent and abilities that women leaders are bringing at the forefront of businesses.

Despite the rise of women in the business world, there remains a significant gap of equality in the workplace, especially underrepresentation in higher corporate positions. Data from global management consulting firm McKinsey & Company revealed that manager positions are dominated by men by 60%, leaving women with only 40%. As women climb the corporate ladder, only one in four executives are women, and only one in 25 are women of color.

To close the gender gap and foster more inclusive workplaces, companies are called to go beyond increasing the number of women in the workplace. They must also take advantage of cultural and organizational shifts to make a significant impact on gender inequality in the workforce.

Take a closer look into effective strategies that will empower women to drive change in the workforce:

Diversifying the talent search process

Addressing gender inequality in the workplace starts with the recruitment process. It is important to create job descriptions that are accurate, inclusive, and highlights skills and qualifications instead of using gender-specific language.

For interviews, make sure that they are conducted fairly and without bias. Also, industry conferences and events can serve as valuable platforms to identify diverse individuals who are interested in board positions.

“By fostering an inclusive recruitment approach, organizations can attract and select the best-suited candidates, including more talented women, to contribute to the growing success of a company,” an article published by executive search firm Anthony Gregg Partnership (AGP) read.

Expanding networks

Establishing networks is important. Connect with female board directors in your network through conferences, industry events, and seminars that advocate for diversity and women in leadership positions. Also, implement mentorship programs to connect with experienced female leaders as potential candidates for board positions.

Connecting with female directors opens new avenues for talent and creates a more diverse and inclusive boardroom, AGP shared. This dynamic improves decision-making and brings fresh perspectives that fuel innovation, paving the way for the success of companies.

Moreover, an article by crowd-sourced resource directory Inclusion Hub shared that networking opportunities “provide professionals with tangible career resources, and access to a community of ‘like-minded, strong women’ that empower each other’s success.”

Investing in training programs

By implementing training programs, as well as leadership development programs and mentorship opportunities for women, companies can form a diverse board member pool, preparing capable individuals from different backgrounds.

For the Institute for Management Development (IMD), these programs cover workplace etiquette and diversity training to help companies address and prevent bias or prejudices. Additionally, such programs will provide essential skills, risk management strategies, knowledge, and experience needed to succeed in corporate boards.

Similarly, AGP highlights that having a strong pool of candidates is essential to enhance women representation on boardrooms. By actively maintaining a pool of female candidates, companies have a steady stream of talent to choose from. This will attract more female leaders who can bring expertise and perspectives to the boardroom.

Mentorship opportunities

Leaders have the power to mentor and sponsor female employees, opening growth opportunities and paving the way for women in leadership roles. It is equally important for leaders to actively acknowledge and reward the achievements of female employees to create a more positive and inclusive workplace.

Coaching and mentoring are one way to boost women representation in the workforce. For instance, coaching programs that are designed to prioritize leadership and development skills, strategic thinking, and decision-making abilities for women in the workforce.

Also, mentorship programs that equip women with skills, confidence, and connections to thrive in leadership positions will help in cultivating a culture that advocates and support women as they climb on corporate ladder.

“Mentorship and training programs offer excellent opportunities for women with great potential to upskill and become top performers in the workplace. A supportive mentor can play a pivotal role in helping women thrive and build successful careers,” online learning provider Emeritus wrote on its website.

Wielding the power of partnerships

Making smart choices in partnership is another key to promoting diversity. By using their power to influence positive change, businesses can embark on partnerships that are making the way for more diverse boards.

“Corporations have the power to use their voice to advocate for positive change. When celebrities and politicians endorse diversity, it draws attention to the issue and catalyzes progress. This will be crucial, as maintaining and furthering diversity on corporate boards is not only a matter of ethical responsibility but also a smart business decision,” the IMD explained.

Promotion and employee benefits

It is also important to support the growth of talented women within organizations. Providing equal opportunities through promotions and employee benefits is one way to do it.

By implementing fair and transparent compensation and promotion policies for women, companies are creating opportunities for their career growth. This approach not only fosters equality in the workplace but also helps companies attract and retain top talents.

Inclusion Hub stressed that implementing transparent pay policies is a step forward in addressing the wage gap, as it fosters trust, motivates employees, and showcases the company’s strong commitment to gender equality.

“To address this inequality, it is crucial to prioritize equity and transparency in salary compensation. Furthermore, by implementing fair pay practices, you retain top women employees and foster an environment that leads the way for more women to ascend to leadership positions,” Emeritus also shared.

Moreover, increasing employee benefits for women (e.g., improved access to childcare and flexible work arrangements) is another effective step to empower women in the workplace.

“To encourage greater transparency, recruiters should highlight salary ranges in job descriptions and conduct regular pay equity assessments, auditing how employees’ earnings compare to industry standards for age, gender identity, seniority, and other criteria,” Inclusion Hub said.

Gender diversity is becoming a more significant key to thriving in today’s business landscape. To ensure strong representation of women in the workforce, companies need to adopt inclusive recruitment strategies, nurturing talent pipelines, and providing training and mentorship opportunities.

To build an inclusive company culture, companies must cultivate a culture that makes employees feel valued and accepted. This will also improve employee experience, and drive innovation.

“Women in leadership positions can bring diverse perspectives, innovative ideas, and problem-solving approaches to the table. Diversity in leadership positions can lead to more effective decision-making, increased creativity and innovation, greater understanding, and overall improved company performance,” Emeritus said.

“Additionally, organizations that promote gender diversity in leadership are seen as progressive and socially responsible. Such positive branding attracts customers, investors, and partners who align with these values,” it added. — Angela Kiara S. Brillantes

Filipino women executives on top

LINKEDIN SALES SOLUTIONS-UNSPLASH

Forty three percent (43%) of senior management positions in Philippine companies are held by women.

The Philippines took the top spot among 28 countries in a ranking of the percentage of women in senior management, according to London-based Grant Thornton in its end-2023 survey.

The survey, based on interviews conducted in the final quarter of 2023, covers 4,891 midsize companies — 90% of which have between 50 and 2,500 employees — from Asia, Europe, and the Americas. It defines senior management roles as positions ranging from CEOs and chief operating officers to board members and finance chiefs.

The Philippines is often at or near the top of the survey, now on its 20th year. It was No. 2 in 2023, No. 4 in 2022, and No. 1 in 2021 and 2020. Three other Southeast Asian nations placed in the Top 10 in 2023: Thailand, No. 3; Malaysia, No. 7; and Indonesia, No. 10 (asia.nikkei.com, March 16, 2024).

As for other Asia-Pacific nations, Australia ranked No. 8, but South Korea at No. 27, and Japan at No. 28, fell to the very bottom of the list, demonstrating the unwavering male dominance in those societies, the survey noted. Globally, the female share of management positions has crept closer to parity for four years in a row, to 33% in the last survey.

“Women have entered the (general) workforce in increasing numbers over the past several decades, climbing from 32.7% participation in 1948 to 56.2% in 2020, according to the US Bureau of Labor Statistics. Consequently, more women have reached executive positions, and women-owned businesses are on the rise. However, the numbers for women executives still haven’t reached parity. According to Fortune magazine, only 44 Fortune 500 companies are helmed by women (in 2023). That rate, although a record, does not reflect the current state of the workforce,” according to Washington State University MBA research (onlinemba.wsu.edu, Nov. 8, 2023).

Male CEOs outnumbered female CEOs 17 to 1 in Fortune 500 companies in 2015. In 2021, only 41 women were CEOs of Fortune 500 companies. In S&P 500 companies, only 5% of CEO positions were held by women in 2019, according to the market data reports (gitnux.org/, Dec. 20, 2023). Since 2015, the number of women in the C-suite has increased from 17% to 28%. Women represent roughly one in four C-suite leaders, the “Women in the Workplace 2023” McKinsey Report says (mckinsey.com, Oct. 5, 2023).

The statistics on women in top executive positions and gender parity in the higher-echelons of the workplace are mostly based on US and Canadian surveys and researched analyses, but the global environment has been gradually homogenized, and the less developed countries have updated and adjusted to the worldwide concern for equality and the rights of women. The aforementioned Grant Thornton report on Filipina CEOs commended the Philippines’ early efforts to address gender issues, including the Magna Carta of Women Act of 2009, which guarantees women economic and social rights (asia.nikkei.com, op. cit.).

Yet at the March 19 symposium, “Inclusion through Women and Water,” held in celebration of International Women’s Month and World Water Day, panel speakers decried the claimed equality of women in the workplace. “Gender parity — not yet, but we’re getting there,” said Rogelio Singson, President and CEO of Metro-Pacific Tollways Corp. (and the former Secretary of Public Works and Highways in the term of President Benigno C. Aquino III). “Yes, there are now many more women in executive positions, but note that middle management is mostly men, and lower management is mostly women,” Salma Rasul, Programs Director of the Philippine Center for Islam and Democracy (PCID), pointed out.

The 2023 McKinsey Report made the same basic observation that “hard-earned gains (on women’s advancement to top posts) are encouraging yet fragile: slow progress for women at the manager and director levels (hitting the ‘Glass Ceiling’) — representation has grown only three and four percentage points, respectively — creates a weak middle in the pipeline for employees who represent the vast majority of women in line for senior-leadership positions. This is called the ‘Broken-rung’ effect in management hierarchy.

“Because of the gender disparity in early promotions, men end up holding 60% of manager-level positions in a typical company, while women occupy 40%. Since men significantly outnumber women, there are fewer women to promote to senior managers, and the number of women decreases at every subsequent level.

“And then, director-level women are leaving at a higher rate than in past years — and at a notably higher rate than men at the same level. As a result of these two dynamics, there are fewer women in line for top positions” (mckinsey.com, op. cit.).

Women executives, even those at the top positions, and down to those in the lower levels of the business organization, have a greater propensity to resign or leave their positions, more than the men, because of the prioritization of family and the intangible, non-monetary benefits or trade-offs in employment and leadership — sort of indicative of the intuitive nurturing for others with the innate mother-instinct in women.

But it is this “emotional intelligence” that gives a distinct leadership edge to women, Forbes magazine says. “Emotionally intelligent CEOs understand that business is personal and rooted in relationships, and by proactively fostering those relationships, they also build their businesses. So much so that recent research confirms that women are rising to the top tiers of companies due in large part to their emotional intelligence” (forbes.com, March 17, 2022).

A Korn Ferry study found that female CEOs were “more likely to engage the power of teams” than their male counterparts. They scored “significantly higher than the benchmark group on humility — indicative of a consistent lack of self-promotion, an expressed appreciation for others, and a tendency to share the credit” — and “were more likely to leverage others to achieve desired results,” says Suneera Madhani, CEO and founder of multiple seven-figure businesses, including a payment technology company, and a CEO School, a top 0.5% business podcast worldwide for women (Ibid.).

“Companies with women at the C-level typically have profits that surpass those led by men, according to a 2019 S&P Global analysis. The same study demonstrated that organizations with female CEOs have more success producing ‘superior stock price performance, compared with the market average.’ And in their first two years in the CEO role, these women’s companies saw a “20% boost in stock price momentum,” the Forbes article, “Five Reasons Why Women Can Make Great CEOs” reported (Ibid.).

Filipino women executives will be good for business and the country, in today’s fierce global competitiveness.

 

Amelia H. C. Ylagan is a doctor of Business Administration from the University of the Philippines.

ahcylagan@yahoo.com

Post-harvest support seen as key in taming inflation

REUTERS

By Kenneth Christiane L. Basilio

ADEQUATE post-harvest support will play a role in easing food inflation by cutting down on food waste, after prices ticked up in February, a legislator said Friday.

Asked about March inflation expectations, Albay Rep. Jose Maria Clemente S. Salceda said post-harvest support measures will cut down on the 15% in lost crops during harvest season.

“The key to keeping inflation under control is to keep an adequate rice supply available,” Mr. Salceda, who is a vice chair of the House Agriculture and Food Committee, told BusinessWorld in a Viber message. “Any shocks in rice prices will have a pronounced effect on overall price levels.”

Food was the primary driver for the rise in February inflation. The Philippine Statistics Authority said February inflation rose to 3.4% from 2.8% in January, with food inflation accelerating to 4.8% from 3.3% in the same period.

Reducing post-harvest losses can reduce dependence on agricultural imports. “Our post-harvest losses account for as much as 15% by total volume. So, if we can reduce losses, we can ease the pressure to import a bit,” Mr. Salceda said.

However, Samahang Industriya ng Agrikultura Executive Director Jayson H. Cainglet said post-harvest losses can spike to 40% as the “milling recovery rate currently stands at around 60% to 65%.”

“If we can increase the milling recovery rate (from post-harvest support) to 70% to 80%, then we expect to see almost one to two million additional metric tons of rice” being made available to the market, Mr. Cainglet told BusinessWorld by phone.

The government can also increase agricultural productivity by providing programs and mechanisms that support harvesting activities. “When it comes to crops: warehousing, storage facilities, millers and crop driers are the most important government interventions,” he said in Filipino.

Mr. Africa said that increasing agricultural productivity requires more than providing post-harvest support. “Big leaps in support to farmers and fisherfolk are vital for the big leaps in productivity needed to substantially lower domestic food prices,” he said.

“The support for agriculture has to be more comprehensive and span farm inputs, credit and insurance, and extension services as well and not just post-harvest facilities,” Mr. Africa added.

Food accounts for 38% of the consumption basket, followed by housing, water, electricity, gas, and other fuels (21%), and transportation expenses (9%), Mr. Africa said.

Rates of Treasury bills, bonds may end mixed amid BSP bets

RATES of Treasury bills (T-bills) and Treasury bonds (T-bonds) could end mixed this week on bets that the Bangko Sentral ng Pilipinas (BSP) may keep rates higher for longer.

The Bureau of the Treasury (BTr) will auction off P15 billion in T-bills on Monday, or P5 billion each in 91-, 182-, and 364-day papers.

On Tuesday, it will offer P30 billion in reissued seven-year T-bonds with a remaining life of six years and four months.

T-bill and T-bond rates may track the mixed movements in secondary market yields last week after Finance Secretary Ralph G. Recto, a member of the BSP’s policy-setting Monetary Board, said the central bank may cut rates just two times instead of the planned four, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

At the secondary market on Friday, the rates of the 91-day and 364-day T-bills rose by 0.16 basis point (bp) and 4.5 bps week on week to end at 5.7745% and 6.0645%, respectively, based on PHP Bloomberg Valuation Service Reference Rates data published on the Philippine Dealing System’s website. Meanwhile, the 182-day T-bill went down by 3.91 bps to end at 5.9187%.

On the other hand, the seven-year bond went down by 1.06 bps week on week to 6.2017%.

Mr. Recto said on Thursday interest rates may stay “higher for longer,” but could see the first cut this year, Reuters reported.

He added that the expected rate cut could be “less than previously thought” in terms of magnitude and frequency. He said interest rates could be cut by up to 200 bps in the next two years.

The BSP kept its policy rate steady at a near 17-year high of 6.50% for a third straight meeting in February.

The Monetary Board will next meet to review its policy settings on April 8. Next month’s meeting was originally scheduled on April 4.

Meanwhile, a trader said in an e-mail that the T-bonds on offer this week may fetch a rate between 6.15% and 6.225% ahead of the release of the BTr’s second quarter borrowing plan.

The BTr has raised P467.3 billion so far out of its P525-billion borrowing plan for the first quarter.

Last week, the BTr borrowed P15 billion as planned from its offering of T-bills as total bids reached P47.245 billion or more than thrice the amount on the auction block.

Broken down, the Treasury raised P5 billion as programmed from the 91-day T-bills as tenders for the tenor reached P14.21 billion. The average rate for the three-month paper went down by 2.8 bps to 5.744%. Accepted rates ranged from 5.68% to 5.8%.

The government likewise made a full P5-billion award of the 182-day securities as bids for the tenor reaching P12.67 billion. The average rate for the six-month T-bill stood at 5.916%, down by 5 bps, with accepted rates at 5.855% to 5.98%.

Lastly, the BTr borrowed P5 billion as planned via the 364-day debt papers as demand totaled P20.365 billion. The average rate of the one-year T-bill went down by 5.4 bps to 6.033%. Accepted yields were from 6.023% to 6.043%.

Meanwhile, the reissued T-bonds to be offered on Tuesday were last auctioned off on Nov. 7, 2023, where the government raised P30 billion as planned at an average rate of 6.807%.

The BTr is looking to raise P180 billion from the domestic market this month, or P60 billion from T-bills and P120 billion via T-bonds.

The government borrows from local and foreign sources to help fund its budget deficit, which is capped at 5.1% of gross domestic product this year. — A.M.C. Sy with Reuters

UAAGI takes two

From left are BAIC Brand Head and General Manager Christopher Yu; United Asia Automotive Group, Inc. (UAAGI) Vice-Chairman Kenneth Sytin; BAIC International Manager of South Asia Shawming Cui; UAAGI Chairman Rommel Sytin; UAAGI Group Managing Director Froilan Dytianquin; and UAAGI Assistant Marketing Manager Timothy Sytin. — PHOTO FROM UAAGI

The auto group tucks a couple of important marques under its wing

CLOSING IN ON two decades of operations, United Asia Automotive Group, Inc. (or UAAGI) has been known for being the distributor of established Chinese brands in Foton and Chery, along with UK motorcycle marque Mutt.

Perhaps as a testament to its faith not only in its own abilities but the potentials of our fast-growing mobility industry already recovering from the doldrums of the pandemic, UAAGI recently added two key brands to its distributorship portfolio: Lynk & Co and BAIC.

UAAGI Chairman Rommel L. Sytin said in a release that, “Lynk & Co not only elevates UAAGI’s entire auto brand portfolio, but also allows (it) to cater to a wider audience of Filipino motorists and their discerning tastes and preferences.” Meanwhile, BAIC (Beijing Automotive Industry Holding Co. Ltd.), a state-owned automotive brand established in 1958 — and which owns Foton as well — comes back to the fore in the local market as UAAGI takes the reins here.

The timing is also ideal as the brand now has a refreshed lineup which UAAGI executives believe will resonate with those looking for quality, good-looking vehicles. “We are proud to reveal our lineup of the world-class BAIC models, and are confident that the Philippine market will appreciate the standout features and design of these first-rate SUVs and crossovers,” added Mr. Sytin.

BAIC

The rejuvenation of BAIC under the wing of UAAGI is being spearheaded by a considerable five-model juggernaut set to publicly debut at the Manila International Auto Show next week.

A preview was held recently at the Palacio de Memoria in Parañaque City, where UAAGI executives were joined by BAIC officials to show off the crossover/SUV models comprising the initial offerings: The B40 Ragnar, B80 Wagon, and B60 Beaumont (a diesel hybrid) — all body-on-frame, four-wheel-drive, diesel- and gas-powered turbocharged SUVs with engine displacements from 2.0 to 3.0 liters and torque from 380Nm to 420Nm. The BAIC X55 Verve and the X7 Grandeza, on the other hand, are gas-sipping (via 1.5-liter turbocharged mills), monocoque-bodied crossovers boasting 305Nm.

In an interview with “Velocity,” BAIC Brand Head and General Manager Christopher Yu shared, “BAIC has really focused on producing off-road, tough, durable SUVs, and other vehicles. Actually, BAIC is also the producer of the military vehicles for China. Part of its factory also produces the vehicles used by the People’s Liberation Army in China. If you look at the quality of our vehicles, it reflects the very durable, very tough, very hardcore (values). That’s what the brand brings to our portfolio.”

The aforementioned models for launch next week range from the P1.4-million (indicative price) BAIC X55 Verve to the BAIC B80 Wagon, priced in the neighborhood of P4.5 million. The price points obviously run contrary to the stereotype of cheap Chinese offerings.

“It’s actually very interesting,” continued Mr. Yu. “When we look at the automotive landscape now, the cars being assembled and produced in China no longer fall into the ‘cheap classification.’ Even other (Chinese) brands have upgraded their features, their specifications, to serve a more upscale market.

“BAIC is unique in the sense that our SUVs have always been catering to this market — a bit more upscale, a bit more premium. The vehicles support this by being very richly featured and have the quality and reliability that you would expect from a multinational assembler and manufacturer of vehicles.”

BAIC vehicles are made in the company’s “world-class, fully robotized plants” in Shunyi, Beijing, and are said to boast style and modern accoutrements in comfort, safety, and convenience — such as large touchscreen displays, automatic power tailgates, automatic LED headlamps, cruise control, smart key entry, power-adjustable seats, LCD instrument panels, panoramic sunroofs, and leather seats, among others. For safety, BAIC models get multiple air bags as well as a “full suite of advanced electronic driver-assist systems, and sophisticated four-wheel drive systems.”

The solidly built BAIC B80 Wagon calls to mind the Mercedes-Benz G-Wagen’s own profile and build, which is not surprising given that BAIC actually manufactures Benzes (yes, including the G-Class, we’re told). BAIC Philippines is not shirking from the comparison, and embraces the similarity in design. “It’s actually a positive for our buyers,” insisted Mr. Yu.

The plan for BAIC Philippines is to establish an initial network of some 10 dealerships this year. The first one will open next month (BAIC Alabang), then have the balance open “in quick succession” after.

So, is the Philippines ready to browse and buy China-made-and-branded vehicles that are moving up the traditional price points? “We are confident that there will be a strong market for these BAIC models albeit, maybe, the volume may not be as large as some other brands. Still, we think that we’ll find a home for the BAIC models in the Philippines in a very short time,” averred the executive.

LYNK & CO

Lynk & Co is a brand that assumes a more upmarket position. Co-owned by Geely Automobile Holdings and Volvo Cars, the marque is fairly new — having been established in Gothenburg, Sweden in 2016.

“We feel that the brand is going to offer a lot of innovation, a lot of very unique styling and a lot of safety features meant for a more premium market and a more discerning set of audiences,” said UAAGI Chief Marketing Executive and Senior Vice-President Lyn Buena in an interview with “Velocity” shortly after a brand preview for media and partners.

This appears to be the next phase as the influx of Chinese brands intensifies — a more distinct positioning so that brands are more focused on the people they see buying and enjoying their vehicles.

In the case of Lynk & Co, the demographic in the cross hairs is comprised of a younger, and more affluent, set of car buyers. “(We’re) going to offer car models for the new generation of owners who we feel will appreciate the shared technologies that benefits from Volvo’s technology and Geely’s manufacturing prowess,” continued Ms. Buena. “We feel that the brand is going to offer a lot of innovation, a lot of very unique styling, and a lot of safety features that’s meant for a more premium market and a more discerning set of audiences.”

Meanwhile, in a release, UAAGI Group Managing Director and Lynk & Co Philippines Brand Head Froilan Dytianquin maintained that the brand “affords Filipinos the opportunity to drive home a premium, global vehicle that ticks all the right boxes in terms of design aesthetic, safety, and modern connectivity.”

Benefiting from its Geely/Volvo heritage, Lynk & Co vehicles are said to be built on reliable global platforms CMA, SEA, and BMA — allowing for “model scalability and adaptability in light of new energy solutions, such as translation of Lynk & Co’s designs to accommodate new electric vehicle technologies.”

At the preview held at the Ayala Museum in Makati, Lynk & Co Philippines officials unveiled a couple of models: the 01 PHEV (plug-in hybrid electric vehicle) crossover, and the 06 SUV.

Set to be launched formally at the forthcoming Manila International Auto Show (MIAS) on April 4, the 01 is powered by a turbocharged 1.5-liter MP+ mill paired with a seven-speed wet dual clutch transmission. It can offer as much as 69 kilometers of pure electric range; the system outputs a combined 262ps and 265Nm. Charging is via an AC Type 2 charger.

The 01 gets a complement of advanced driver assistance system (ADAS) features such as adaptive cruise control, autonomous emergency braking with pedestrian detection, traffic jam assist, and lane-keep assist and lane departure warning.

It features so-called Aurora Borealis Daytime Running Lights and Energy Cube LED Rear Lights, and rolls on two-tone 20-inch aluminum alloy wheels. Inside, it gets a leather-wrapped steering wheel with tilt and telescopic adjustments. The 01’s instrument panel is a 12-inch full-digital multi-functional instrument panel, while another digital screen (a touchscreen this time) that measures 12.7 inches houses the infotainment system that features wireless Apple CarPlay and Android Auto. The indicative pricing for the 01 is P2.4 million.

Meanwhile, the 06 subcompact crossover gets a three-cylinder, turbocharged 1.5-liter mill, and sports similar Aurora Borealis DRLs and Energy Cube LED rear lamps. It gets a panoramic sunroof, a powered tailgate, and dual chrome exhaust pipes.

It packs 175hp and 265Nm of torque, and shifts with a seven-speed dual-clutch transmission. For added safety, there’s a 540-degree camera, six air bags, and ADAS niceties like forward collision warning with autonomous emergency braking, lane departure warning, lane-keep assist, and lane-change assistance. It also banners intelligent adaptive cruise control with traffic jam assist. Indicative pricing is set at P1.5 million.

Said Ms. Buena, “At MIAS, you’ll be seeing the entire product lineup that Lynk & Co Philippines will be offering. We are going to have dealer partners. We’re going to have a series of roadshows.”

As for the rollout plan, the executive said the vision is to have 10 outlets “in a year’s time,” adding, “We feel that a lot of people are going to respond positively to the offers of Lynk & Co Philippines. We’re very excited to cater to that.”

Profit taking drags Ayala Corp. stock lower

AYALA CORP.’S stock price fell last week after investors took profits amid developments in the conglomerate’s subsidiaries.

Ayala Corp. was the seventh most actively traded stock last week, with a total of 1.89 million shares worth P1.23 billion having exchanged hands from March 18 to 22, according to data from the Philippine Stock Exchange (PSE).

Its shares closed at P632 apiece on Friday, down 4.7% week on week. Since the start of the year, the stock has fallen 7.2%.

“Ayala Corp. has been on a waterfall move, mainly dragged by Ayala Land, Inc. (ALI)’s correction. Corporate news that might have added up to the conglomerate’s price action this week was Bank of the Philippine Island (BPI)’s divestments of its shares in GoTyme Bank Corp.,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in an e-mail.

Philippine National Bank Senior Equity Research Analyst Jonathan J. Latuja said in an e-mail that Ayala Corp.’s share price fell for the fourth consecutive week after declining by more than 4% this week, which underperformed the PSE index’s gain of 0.9% week on week.

“Likewise, Ayala Corp.’s largest subsidiary, ALI, dropped for the fourth consecutive week and ended 2.5% lower this week,” added Mr. Latuja.

Mr. Latuja also said that Ayala Corp. and ALI’s share prices dropped on profit taking after the announcement of its fourth quarter and full-year 2023 results.

“Moreover, for 2024 earnings, we project an 8% year on year growth in Ayala Corp’s top line,” Mr. Latuja said.

Mr. Limlingan saw a low double-digit year-on-year growth in Ayala Corp.’s first quarter in 2024 revenue as well as its net income after taxes (NIAT).

“Based on our models, we are seeing revenue to land at around P89 billion, while NIAT is just a bit below P12 billion,” said Mr. Limlingan.

The attributable net income of the country’s oldest conglomerate surged by 39% to P38.07 billion in 2023 from P27.4 billion in 2022.

For Ayala Corp.’s banking segment, BPI’s net earnings increased 44% to P51.7 billion in 2023. Total revenues rose by 17% to P138.3 billion due to better net interest and non-interest income.

Last week, in a disclosure to the PSE, BPI said it sold 752,056,290 common shares it gained from its merger with Robinsons Bank Corp. to digital lender GoTyme Bank Corp. at P1.20 per share or P902.47 million in total.

On real estate business, ALI’s net income rose 32% to P24.5 billion in 2023 driven by resilient property demand and heightened consumer activity fueled revenue expansion.

Property development revenues increased by 14% to P92.3 billion, while reservation sales improved by 9% to P113.9 billion.

ALI shares closed at P31.60 apiece on Friday, down 2.5% week on week.

For Ayala Corp.’s energy business, ACEN Corp. saw a decline in its reported net income to P7.4 billion in 2023 from P13.1 billion in 2022. The company’s consolidated revenues rose by 4% to P36.5 billion.

Meanwhile, Globe Telecom, Inc., Ayala Corp.’s telecommunications business, net income declined 29% in its 2023 net income to P24.6 billion due to the one-time gain on the partial sale of its data center business in 2022.

“Ayala Corp. is currently hovering around its support level, and we hold a bullish bias for the upcoming week, although the potential rebound for this stock may not be as robust due to anticipated low trading activity during the holy week. Meanwhile, we plot the resistance at P647 per share,” said Mr. Limlingan. — Lourdes O. Pilar

Style (03/25/24)

EXO Celestial Skin Care uses exosomes

EXO Celestial Skin Care was recently launched in the country, using exosomes and nicotinamide mononucleotide that offers non-invasive treatment with microsurgical effect. The latest innovation for skin cell regeneration, exosomes are like ‘avatars’ that facilitate intracellular communication by merging with other cells. The process allows old cells to regenerate, improve and rejuvenate. Exosomes contain growth factors, like anti-inflammatory cytokines and genetic materials that aid tissue repair and immune modulation. The skin care line combines this with nicotinamide mononucleotide (NMN). NMN is a molecule that boosts the skin’s energy making it healthy and youthful. It supports the natural repair process that reduce the signs of aging. EXO Celestial says it can be used for problems like acne, dryness, dark pigmentation, large pores, dullness, saggy, sensitive, and chronically stressed skin. The line follows a four-step process. It begins with the Anti-pollution Amino Acid Cleansing Cream, followed by Advanced Nano Exosome Repairing Essence and the Nano Exosome Peptide Revival Cream to activate skin healing and repair. The final step involves protection via UV Expert Sunscreen SPF30 PA++. EXO Celestial is distributed by GFOXX International.

Rustan’s releases summer travel essentials

Rustan Marketing Corporation (RMK) has a selection of summer essentials.

Kicking off the list is the Jack Nicklaus Broken Stripe Polo in Classic Navy. Crafted from 100% polyester with StayDri® Moisture Wicking technology and UV Protectant properties, this polo ensures comfort and style in any climate, making them the perfect choice for long days under the sun. Next is the High Sierra Access 3.0 Eco Backpack. This adventure-ready backpack is designed to withstand the rigors of the outdoors with secure compartments to accommodate water bottles, snacks, and even a 16” laptop. For radiant complexion anytime, anywhere, the Nuxe Huile Prodigieuse X Nuxe Huile Prodigieuse Or Roll & Glow works is infused with seven precious botanical oils and 98% natural ingredients, deeply nourishing skin. Nuxe Huile Prodigieuse Or Roll & Glow offers a practical and convenient way to illuminate areas of the face and décolleté with subtle golden shimmer. When it comes to hair care on-the-go, the VS Sassoon Rechargeable Cordless Mini Hot Brush, Curler, Straightener, and Auto Hair Curler come to the rescue. Compact and portable, these rechargeable hair tools ensure convenient style maintenance no matter where. Rounding off the list is the BaByliss Travel Pro Hair Dryer, with a lightweight design and dual voltage capability. For more luxe selections, think perfume with Bond No. 9 New York Flowers Eau de Parfum, featuring an enticing blend of Anjou Pear, Clementine, Kir Royale Accord, Rose de Grasse, Jasmine, Amber, and Iris. Meanwhile, Irresistible Givenchy Eau de Toilette Fraîche offers the scent of Damascena rose, Virginia cedarwood, pink peppercorn and sweet orange.

Pack all of these in The Samsonite Lite-Box Alu Trunk 74/27 Aluminum, with robust anodized aluminum shells, corner reinforcements, and silent double wheels.

All brands are exclusively distributed by Rustan Marketing Corporation.

No to health misinformation

RAWPIXEL.COM-FREEPIK

The COVID-19 pandemic spawned an “infodemic,” in which too much information — including false or misleading information — spread rapidly in digital and physical environments. An infodemic causes confusion and risk-taking behaviors that can harm health. In the first three months of 2020 alone, nearly 6,000 people around the globe were hospitalized because of coronavirus misinformation. At the same time, the World Health Organization indicated that at least 800 people may have died due to misinformation related to COVID-19.

An infodemic also leads to mistrust in health authorities and undermines the public health response. “The same kinds of conspiracy theories that helped to fuel vaccine hesitancy during the COVID-19 pandemic are now undermining trust in vaccines against other diseases, including measles, as more people have lost confidence in public health experts and institutions,” warns a recent New York Times article.

Knowing how to determine if a source is credible is a practical skill everyone can learn, said the US Centers for Disease Control and Prevention (CDC). The CDC recommends a practical set of guides from the University of California San Francisco (UCSF) to help assess the credibility and accuracy of online health information.

Examine the credentials of the source to determine whether the author or organization has the required expertise and training to provide the information. Credibility is generally enhanced if the health information is provided by a medical institution, an entity that brings together medically knowledgeable professionals, or a government health agency.

Look for publications that have undergone peer review by a panel of professionals in the field; this adds to the credibility of the information. The availability of the publisher’s or author’s contact information in the form of a mailing address or phone number can also bolster the legitimacy of the information.

When assessing accuracy, determine whether the information is supported by evidence from scientific studies, other data or expert opinion. If you receive information from a medical journal, note the size and category of the study. Is the information based on a large or small sample (number of subjects/participants)? Studies with large sample sizes generally yield more robust evidence. Read the article carefully to see if the authors discuss any limitations or weaknesses of the study.

The most reliable evidence comes from randomized controlled studies (RCTs), which are often published in respected peer-reviewed scientific journals. However, other types of studies or the opinions of respected authorities in the field also can lend validity to the information. If you receive information from a secondary source such as an Internet site or a newspaper article, keep in mind that this is another person’s interpretation of the data. Is the information based on evidence from a study, on expert opinion, or is it merely the opinion of the writer?

Watch out for red flags that may indicate health misinformation. Information that has no identifiable publisher or author should not be relied on, unless it is backed up by information from other sources that meet the criteria for credibility. If the purpose of the information is primarily to sell a product, there may be a conflict of interest since the manufacturer may not want to present findings that would discourage you from purchasing the product. If you suspect that the intent is to sell you a product, consider getting additional information from a more neutral and objective source.

At other times, the source may not disclose all of the information or may have a bias that is more subtle and difficult to detect. Even well-respected medical journals or websites may have a slight bias, depending on their experience. For example, a journal targeting a specific medical specialty may not discuss other valid treatment options in other medical specialties. Although the information may be accurate, it may have a slight bias because of this particular perspective.

Note the date of publication. Given that health information is constantly changing as new discoveries are made, it is important to make sure that the information is current. If the information is based on a study done several years ago, you should look for more recent information to ensure that the information is still valid. For example, a website that has not been updated recently or an article that is several years old may not include information on new promising treatments.

Be skeptical of sensationalist claims of a “secret cure” or a “miraculous result” that no one else has heard about and that is not backed by evidence. Also, look for bad grammar or spelling errors that indicate poor quality control and may suggest cause for caution. Social media platforms are teeming with these types of health misinformation.

Take information from forums such as internet chat rooms and bulletin boards with a grain of salt. Keep in mind that the experience of one individual does not necessarily apply to you. Although such forums can provide valuable information, there are very few safeguards in place to ensure the credibility or accuracy of the information. Any individual, regardless of expertise or experience, can dispense advice. Information from such forums should be substantiated by more reliable sources of information.

 

Teodoro B. Padilla is the executive director of Pharmaceutical and Healthcare Association of the Philippines (PHAP). PHAP represents the biopharmaceutical medicines and vaccines industry in the country. Its members are in the forefront of research and development efforts for COVID-19 and other diseases that affect Filipinos.

More investment urged in climate-resistant crops

RENZO D SOUZA—UNSPLASH

THE DEPARTMENT of Agriculture (DA) needs to consider developing more climate-resistant crops to mitigate the impact of El Niño on agriculture, a legislator said Sunday.

Party-list Rep. Wilbert T. Lee said in a statement that making climate-resilient crops available to farmers would help achieve food security amid the threat of food shocks due to dry conditions brought about by El Niño.

“We need to utilize and maximize all available agricultural technologies so as to make our farmers more resilient to climate change,” Mr. Lee said in a statement. “Climate-resilient crop varieties are important in achieving food security,” he added.

The DA reported last week that damage to agriculture has been valued at P1.75 billion due to intensifying El Niño conditions, displacing at least 29,437 farmers across 32,231 hectares of affected farmland.

Rice and corn crops sustained most of the damage, valued at P1.1 billion and P317 million, respectively.

“We should now consider developing climate-resilient rice and corn crops to mitigate the effects of El Niño,” Mr. Lee said in Filipino.

While he noted the International Rice Research Institute (IRRI) has conducted initial studies on climate-resilient staple crops, the government should further “build on this technology” to help farmers reduce their losses.

The IRRI has developed drought-tolerant rice crops such as the Sahod Ulan rice variety released throughout the country. Approved for release last year, Sahod Ulan 39 was the latest drought-resilient rice variety developed by IRRI, which features a fast maturity period and resistance against pests and disease.

“The United States Department of Agriculture has also studied drought-tolerant corn,” Mr. Lee said. “I suggest we proposed a knowledge exchange (program)… so that we could learn their technologies on corn.”

“Farmers will have higher production output, allowing them to rake in profit, should they be provided with climate-resilient crop products,” Mr. Lee said. — Kenneth Christiane L. Basilio

Yields on government debt inch down after Fed review

YIELDS on government securities (GS) traded in the secondary inched lower on average last week after the US Federal Reserve affirmed that it remains on track to cut rates within the year.

Bond yields, which move opposite to prices, fell by 1.38 basis points (bps) on average week on week, based on PHP Bloomberg Valuation Service Reference Rates data as of March 22 published on the Philippine Dealing System’s website.

Rates were mostly mixed last week. Yields on the 91- and 364-day Treasury bills (T-bills) rose by 0.16 bp and 4.50 bps to 5.7745% and 6.0645%, respectively. Meanwhile, the 182-day T-bills fell by 3.91 bps to yield 5.9187%.

At the belly of the curve, yields on the two-, three-, and four-year Treasury bonds (T-bonds) rose by 2.59 bps (to 6.0516%), 1.74 bps (6.0906%), 0.81 bp (6.1308%), respectively. On the other hand, the rates of the five- and seven-year T-bonds went down by 0.01 bp to fetch 6.1659% and 1.06 bps to 6.2017%, respectively.

Meanwhile, at the long end, the 10-, 20- and 25-year debt papers saw their rates fall by 1.97 bps (to 6.1992%), 8.81 bps (6.2120%), 9.19 bps (6.2029%), respectively.

GS volume traded declined to P10.12 billion on Friday from P19.01 billion a week earlier.

A bond trader said GS yields mostly moved lower as investors were cautious ahead of the Fed’s March 19-20 policy meeting.

The downward pressure persisted after Fed Chair Jerome H. Powell said they continue to see three rate cuts within this year, the trader said in an e-mail.

The market was trading range-bound for most of last week as investors awaited the Fed meeting and the Bureau of the Treasury’s (BTr) auctions, Noel S. Reyes, chief investment officer for Trust and Asset Management Group at Security Bank Corp., said in an e-mail.

More money was deployed towards the T-bond auction last week, he noted.

“Some buying came out from the dovish statements of the US Fed last week, easing yields a bit,” Mr. Reyes added.

Mr. Powell said on Wednesday recent high inflation readings had not changed the underlying “story” of slowly easing price pressures in the US as the central bank stayed on track for three interest rate cuts this year and affirmed that solid economic growth will continue, Reuters reported.

Speaking after a policy meeting at which officials left the benchmark overnight interest rate in the 5.25%-5.50% range and held onto their outlook for three cuts in borrowing costs this year, Mr. Powell said the timing of those reductions still depends on officials becoming more secure that inflation will continue to decline towards the Fed’s 2% target even as the economy continues to outperform expectations.

Inflation reports at the beginning of the year showed price pressures remained “elevated,” in the Fed’s view, but “haven’t really changed the overall story, which is that of inflation moving down gradually on a sometimes bumpy road to 2%,” Mr. Powell said in a press conference.

But “I also don’t think that those readings added to anyone’s confidence” of a continued decline in inflation, Mr. Powell said, comments that put weight on upcoming inflation reports to confirm that price pressures continue to ease.

If they don’t, Mr. Powell said the Fed would maintain high interest rates as long as needed. Asked explicitly about recent comments to Congress that the Fed was “not far” from gaining the confidence it needs to cut rates, he sidestepped repeating those words and instead said his “main message” was that the US central bank still needed more data to change policy.

“It’s appropriate for us to be careful,” the Fed chief said, reiterating a go-slow approach to rate cuts that has been buttressed by the economy’s ongoing strength, with officials saying they are in no rush to ease monetary policy while the economy and the job market continue to grow.

Meanwhile, the BTr made a full award of the reissued 20-year T-bonds it auctioned off last week.

The BTr raised P30 billion as planned as total bids amounted to P60.946 billion, more than twice the amount on the auction block. The bonds, which have a remaining life of 19 years and 11 months, were quoted at an average rate of 6.189%, with accepted yields ranging from 6.17% to 6.25%.

For this week, yields may move higher due to strong US employment data and before the release of the February US personal consumption expenditures price index report on March 29, the bond trader said.

Meanwhile, Mr. Reyes expects the market to continue monitoring external developments amid a shortened trading week at home in observance of Holy Week. — Abigail Marie P. Yraola with Reuters

SM Investments Corp. to hold 2024 Annual Stockholders’ Meeting on April 24

 

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Manila inches up in Financial Centers Index

The Philippine capital inched up a notch to 101st out of 121 financial centers in the 35th edition of the biannual Global Financial Centers Index (GFCI). The GFCI provides evaluation of future competitiveness of financial centers around the world and serves as a valuable reference for policy and investment decision makers. Manila’s GFCI score rose by 17 points to 631. Meanwhile, in a separate assessment of financial technology (fintech), the capital fell four places to 97th out of 116 financial centers.

 

Manila inches up in Financial Centers Index

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