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PH1 targets expansion with 200 hectares for future projects

By Revin Mikhael D. Ochave, Reporter

REAL estate developer PH1 World Developers, Inc. is eyeing 200 hectares of land in the next two years to support the company’s development plans, its top official said.

“Our target is 200 hectares (of land bank) in the next two years,” PH1 Chairman and Chief Executive Officer Edgar B. Saavedra told BusinessWorld in a recent interview.

Mr. Saavedra said that PH1 is looking at areas such as Taytay, Pasig, Bulacan, and Cavite to support the company’s land banking efforts.

“We are looking for land on the fringes of the Greater Manila area. There is demand. The bandwidth is in this area. We want the fringes because these are more affordable,” he said.

“For the 200 hectares of land, we plan to do housing and medium-rise developments,” he added.

Mr. Saavedra said that PH1 currently has 50 hectares of land bank situated in Cainta and Taytay in Rizal, Pasig City, Cavite, and San Jose Del Monte in Bulacan.

“The 50 hectares of land bank can do seven to eight projects already,” he said.

Mr. Saavedra said that PH1’s land banking efforts will be mostly done through joint ventures (JVs).

“The land banking will be done through JVs so that it will not be too heavy on our cash flow,” he said.

PH1 is the real estate arm of listed infrastructure conglomerate Megawide Construction Corp.

Mr. Saavedra previously said that PH1 is expected to contribute “substantial earnings” by 2026 as two of its ongoing projects are scheduled to finish construction.

PH1 recently launched a P2-billion mid-rise residential housing project in Imus, Cavite as well as residential condominium project in Pasig City with two phases that are expected to generate as much as P30 billion in sales.

Megawide bought PH1 from Citicore Holdings Investment, Inc. in July last year for P5.2 billion, as the conglomerate sets its sights on the below-middle-income and middle-income segments of the real estate market.  

Other PH1 projects include the Modan Lofts Ortigas Hills condo project in Taytay, My Ensō Lofts in Quezon City, The Hive Residences condo in Taytay, and the Northscapes housing development in Bulacan.

It also has a joint venture with Property Company of Friends, Inc. to build the One Lancaster Park condo project in Imus City, Cavite.

Xforce fielded

PHOTO BY JOYCE REYES-AGUILA

Mitsubishi Philippines rolls out new compact crossover

MITSUBISHI MOTORS PHILIPPINES CORP. (MMPC) recently introduced its latest offering in the compact SUV segment, the Xforce. The vehicle’s design, suite of safety features, and Yamaha sound system were among the key selling points highlighted by company officials at a launch last July 5 in Taguig City.

“We are confident that (the Xforce) will contribute to our future sales performance and elevate our brand image,” MMPC President Ritsu Imaeda told event attendees comprised of members of the media and content creators — along with bank and dealer partners. The executive also shared to select members of the media and content creators at a later press conference that MMPC targets to sell at least 7,000 Xforce units by the close of the company’s fiscal year in March 2025.

According to Mitsubishi Chief Product Specialist Masahiro Ito, the Xforce was inspired by the brand’s goal of creating a vehicle with an “extra push to move” and “extra power or force.” He added, “This car’s concept (is) to provide an exciting and comfortable ride, while driving with confidence. The ‘X’ means we want it to be an ‘Xciting Xperience.’” He continued that the decision to release a two-row instead of a three-row SUV is based on the local market demand of target families and their daily routine of commuting and bringing children to school.

The SUV comes in two variants — both powered by a 1.5-liter MIVEC engine “that combines efficiency with power,” and are similarly mated with a continuously variable transmission.

The GLS CVT (P1.367 million) and GT CVT (P1.581 million) get the brand’s signature T-shaped LED headlamps and taillamps, and a new-generation Dynamic Shield front fascia. The Xforce rolls on 18-inch two-tone alloy wheels and has a ground clearance of 193mm. There are four available drive modes: Normal, Gravel, Mud, and Wet (said to be exclusively developed for ASEAN road and weather conditions).

The brand reports a frugal 16km/liter fuel consumption figure, though no local testing has been done yet, according to MMPC Marketing Vice-President Jack Ramirez.

Inside, the Xforce boasts a 12.3-inch touchscreen smartphone-link Display Audio with wireless Apple CarPlay and Android Audio. Drivers can view vehicle information in various modes, including data on the SUV’s safety features such as Active Yaw Control, and Hill Start Assist. The GLS variant has four SRS air bags, while the GT has six. While both variants have reverse cameras, only the GT receives a Tire Pressure Monitor System (TPMS) and advanced driver assistance systems such as Adaptive Cruise Control (ACC), Forward Collision Mitigation System (FCM), Blind Spot Warning System (BSW), and more.

Front and rear sets are rendered for ergonomic comfort, with the rear seats bestowed with an eight-step recline function. Both variants have Dual-Zone Climate Control with Nanoe X to purify and deodorize the cabin air.

A partnership with tuners of Yamaha Sound Meisters underscores the Xforce’s Dynamic Sound Yamaha Premium audio system. The equalizer setting and volume are adjusted for the eight-speaker system based on the SUV’s speed and comes in four sound settings: Signature, Lively, Powerful, and Relaxing.

“We partnered with them to create the best sound with the best vehicle,” said Mitsubishi Assistant Executive Vice-President for Asia-Pacific Marketing and Sales (Product Sales Strategy) Masaki Tsugeno. “We have the same kind of passion. They understood the concept (for the Xforce and created) a special tune for this car. We will keep the tie-up with Yamaha. Probably, we will keep putting the Yamaha system in other cars.”

While there is no definite direction if a hybrid option of the Xforce will be made available, Mr. Ito said the brand is aware of the “demand (for) electrification (via) BEVs, PHEVs, and (traditional) hybrid systems. We are thinking to put some new technology to the product. We will (make sure) that each product will be best for the Philippines and the ASEAN market. We need to think about infrastructure for battery charging. At this moment, we do have some studies for the new technology on the Xforce.”

The all-new Mitsubishi Xforce is available at all MMPC dealerships nationwide, and comes in four exterior colors: Energetic Yellow Metallic with Black Roof, Quartz White Pearl with Black Roof, Graphite Gray Metallic with Black Roof, and Blade Silver Metallic with Black Roof (GLS only).

MMPC said that Xforce exclusive items “will be given to customers who will reserve, purchase, and receive their units (from) July 5 to July 31.” Exclusive items include an Apple Watch with Xforce strap, an Xforce jacket, and complimentary VIP access for upcoming Xforce test-drive tours and activities. The next stop for the aforementioned tour will be at SM Megamall from July 26 to 28.

For more information or to schedule a test drive, visit www.mitsubishi-motors.com.ph or make arrangements with a dealership.

GoGym aims to make fitness more accessible

AHG Lab’s venture portfolio company GoGym, a pioneering tech-enabled affordable fitness brand in the Philippines, is set to transform the fitness landscape with its innovative and inclusive approach to bring health and wellness to all Filipinos.

More than just a place to work out, GoGym is a community that embraces everyone’s fitness journey, creating a supportive and connected environment that extends far beyond the gym walls.

“The fitness market in the Philippines presents a significant opportunity with its large, young, and eager demographic,” Co-Founder and CEO Andrew Phillips shared. “However, there is a noticeable gap in the available tiers of gym options. GoGym bridges this gap by offering an aspirational yet affordable fitness brand tailored to the emerging middle class with memberships starting at just P599 per month.”

GoGym stands out as the only digital and tech-enabled gym with memberships in the Philippines. Its app provides membership options, personalized fitness plans, training videos, goal setting, and progress tracking. With the app, GoGym users can also seamlessly pay and pause their membership, as well as refer friends and family and give them discount codes.

“Aside from an all-round fitness app, we are also adding features to improve diet, mental well-being, stress management and sleep quality. We want to make sure Filipinos have all tools and applications at their disposal to better their health,” remarked Mr. Phillips.

The company has ambitious plans to build the dominant mass market discount gym brand in the Philippines.

“Our vision is a world lit with green lights: symbolizing growth, health, and progress for everyone,” says Emma Anderso, co-founder and COO of GoGym. “Our goal is to build accessible and affordable gyms in every corner of the Philippines, providing not only convenient locations in residential neighbourhoods but also in retail areas, office and business districts.”

Converge expands eLearning access for under-resourced students

Converge connectivity beneficiaries (from left) Daniella Mae Adrales, Andrea Candice Alvarez, Maristelle Quiñones, and Arvie Sino Cruz

“Education is the only treasure I can give that no one can ever take from you.”

Incoming second-year college students Arvie Sino Cruz, Daniella Mae Adrales, Maristelle Quiñones, and Andrea Candice Alvarez always keep this teaching in mind as they carve their way to their most prized college degrees.

Growing up, they regard education as of utmost importance as their parents instilled in them that it is the path that will take them to a good career someday, uplifting not only their lives but also their families.

Dedicated to getting good academic remarks, the four students make the most out of their available resources, such as mobile data, just to comply with school requirements.

So, when schools went distance learning mode from face-to-face classes during the pandemic then, the four struggled with the immediate transition as they did not have the financial capacity to avail of premium fixed-line broadband plans.

“Sa course ko, sobrang importante ng internet kasi kailangan namin mag-research, at manonood ng videos para mag-advance study. Kailangan ko rin makipag-communicate sa teachers and classmates ko,” said Arvie who is taking Applied Mathematics – Information Technology Track as a scholar at Far Eastern University.

They also could not fully rely on their phones to attend their day-to-day classes. Mobile reception in their area is poor, and mobile data can be as expensive as postpaid internet since users need to reload when they max out or their plan expires.

Knowing the difficulties these students faced through a letter from the community parish that also supports the education of the four students, in 2021, Converge took action to power up their connectivity for free until they finish their studies.

The students no longer had to worry that they might get disconnected during their online class and they can now count on unlimited and dependable connectivity to take part in all their online learning activities, synchronous or not.

“Sa bahay kasi namin, wala talagang signal kahit anong network. Sa dulo kasi ‘yung bahay namin so, dati, lalabas pa po ako ng bahay. Minsan, aakyat pa ako sa bubong para maghanap ng signal. Ngayon, abot na abot na po ‘yung internet,” said Maristelle, a BA Communication student.

For Daniella, since she became a connectivity beneficiary of Converge, her whole family experienced the difference that a decent internet connection makes, especially her siblings, who are still in junior high school, and her parents who also attend occasional online fellowship at church.

Daniella Mae Adrales made sure to make the most out of her free internet connection by dedicating internet use at home for school research only.

“Nu’ng nagka-Wi-Fi po kami sa Converge, sobrang convenient kasi mas mabilis ‘yung signal at kahit anong app pwedeng gamitin lalo na po kapag gumagamit kami ng Zoom at Google Meet,” said Danilla, who studies Internal Auditing.

The free internet connection was also particularly beneficial for Andrea whose family used to spend almost half of his father’s monthly salary just for prepaid Wi-Fi load.

“Since ‘yung internet ngayon ay prevalent na, napaka importante talaga n’ya lalo na may mga pagkakataon na malalayo ‘yung libraries at talagang ‘yung students, online na kumukuha ng information at resources lalo na para sa mga research project. Nag-a-advance na rin ‘yung technology at kailangan po nating makapag-adapt para makahabol din po tayo,” said Andrea.

With the connectivity support from Converge, these students were adequately equipped to focus on online class discussions, instead of stressing if their mobile plan could still hold on for the next class. No wonder, the four completed their Senior High School with honors.

These stories continue to inspire Converge to provide connectivity support for students striving in school to achieve their dreams. Recently, the company unveiled its BIDA Fiber Internet Scholarship Program, which seeks to extend free fiber connectivity to incoming senior high school students, powered by its low-cost postpaid product BIDA Fiber.

The program is open to incoming Grade 11 students enrolled in the Science, Technology, Engineering, and Mathematics (STEM) track in public schools.

 

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SMIC geothermal unit starts exploration for new sources

PGPC.COM.PH

THE Philippine Geothermal Production Co., Inc. (PGPC), a wholly owned subsidiary of SM Investments Corp. (SMIC), said it has started the exploration and development of new geothermal energy sources in various parts of Luzon.

The concession sites are located within the provinces of Kalinga, Benguet, Cagayan, Quezon, Camarines Norte, and Camarines Sur, the company said in a statement last week.

PGPC is aiming to establish fully operational geothermal fields capable of generating between 250 and 400 megawatts (MW) of additional renewable baseload capacity.

“With these projects slated for completion within the next five to seven years, they will be sources of additional renewable base-load power that will help reduce the risk of power supply shortages in the Luzon power grid,” said PGPC President Napoleon L. Saporsantos, Jr.

“They will also play a pivotal role in the Department of Energy’s target of having renewable energy sources account for at least 50% of the country’s total power capacity by 2040,” he added.

Mr. Saporsantos said that they are expecting the projects, from the exploration and development phase up to commercial operation, to create more than 2,000 jobs, “with priority given to hiring qualified local residents in our host communities.”

In 2023, the SMIC said that PGPC was expanding its renewable energy capacity to 600 MW through new exploration projects.

PGPC currently operates the Tiwi field in Albay and the Makiling-Banahaw (Mak-Ban) steam field spanning Laguna and Batangas. These facilities have been pivotal in supplying renewable geothermal energy to client power plants since 1979.

Tiwi is the first commercial scale geothermal steam field development in Southeast Asia, followed by Mak-Ban.

“SM’s investment in PGPC underscores the group’s dedication to help create a more sustainable future,” SMIC President and Chief Executive Officer and PGPC Chairman Frederic C. DyBuncio said. — Sheldeen Joy Talavera

The Velocity Q&A: Froilan Dytianquin (Group Managing Director United Asia Automotive Group, Inc.)

Mr. Dytianquin talks to ‘Velocity’ at the ACEA Subic Beach Resort. — PHOTO BY KENT FLORES

Interview by Kap Maceda Aguila

THE UNITED ASIA AUTOMOTIVE GROUP, INC. (UAAGI) has been plenty busy of late, particularly with the addition of two auto brands — BAIC and Lynk and Co — joining Foton and Chery in its fold. Recently, UAAGI officials staged the “Choose Your Own Adventure” media drive from Manila to Subic featuring 14 models across its four marques. “This is the first time that we’ve done this for all our UAAGI brands… an opportunity for the media to test-drive the cars that we have in the group’s portfolio,” said UAAGI Group Managing Director Froilan Dytianquin in an interview with “Velocity.”

As well as growing its offerings, UAAGI is also reaching out to more segments of car buyers. This is certainly good news for the distributor’s established dealer partners. “We’re giving our dealers of Foton and Chery dibs on our new brands Lynk and Co, and BAIC, so they can also expand their offerings in the areas they’re already covering — and complete their overall portfolios,” he added.

Here are excerpts from our exclusive interview.

VELOCITY: UAAGI has really grown its portfolio. Can you give us a rundown of the brands and their target markets?

FROILAN DYTIANQUIN: The four brands that we now have under the UAAGI portfolio actually do not compete with each other. Foton, the original brand that we have had for a while now, caters to the commercial vehicle market — from pickups to large trucks, buses, and heavy equipment. Chery, on the other hand, has been our mainstream brand focusing on crossovers. I would say the growth in crossover sales here is quite significant, as people now try to move from sedans to these.

Then Lynk and Co, and BAIC are two distinct brands as well. For Lynk and Co, the models that we have — crossovers and SUVs — are actually positioned as mid-premium. The direction for the brand is toward beautiful, energetic vehicles catering to the younger generation. Later on, you will also recognize that we’re moving the models to more sustainable platforms. Right now, we have the plug-in hybrid electric vehicle, 01, and we will further expand the models to include other PHEVs. BAIC is more for four-wheel-drive enthusiasts and those who are into large SUVs. This is how we position the brand. Of course, BAIC was in the country previously in the early 2000s, but the brand was focusing on crossovers then; again right now, they are now more into large sport utility vehicles for four-wheel-drive users. That has been the focus.

Significantly, all the brands that UAAGI carries are made or are headquartered in China. Foton has been here for a while now. How do you see the market perception for Chinese brands in general — particularly since there are so many of them here now? Are you seeing a shift in the way that people browse for vehicles? Before, it used to be just the Americans, Japanese, and the Korean brands.

When we look at the history of Japanese or Korean auto brands, they all started the same. They started slow; people did not accept them right away. But as they improved on quality and technology, buyers started to rely on them. This is something that we need to understand. Right now, there’s geopolitical tension which extends to Chinese brands. Having said that, Chinese brands right now have the edge with regard to technology. Everything’s already at the forefront. Chinese brands are heading EV technology.

In terms of research and development, most of the Chinese brands have already partnered with their European counterparts. So, I guess it’s a matter of time — again similar to what happened for Japanese and Korean brands — for people to discover that Chinese marques have really evolved into something that I would consider first class in terms of quality, reliability and, of course, technology.

It’s good that you mentioned geopolitical tensions but, in general, do you think that the public’s mindset has changed with regard to how it views made-in-China products?

I think the millennials, the younger people, already accept them or at least are willing to look beyond the traditional Japanese, Korean, American brands. We can see this in cell phones. Young people don’t stick to the leading brands, and they try to explore the other options, especially Chinese. These cell phones are already becoming more advanced… I came from another Chinese auto brand, and I remember we used the term “reverse mentoring,” which means that it’s now the young who are mentoring, let’s say, their parents or their uncles, on these new brands.

A juicy new serum

WHILE vitamin C skincare products may enjoy a reputation for their brightening properties, they may leave the skin sensitive, especially under the sun. Korean beauty brand Innisfree is assuring us that that won’t always have to be the case (as long as you wear sunscreen).

Innisfree launched their Vitamin C Green Tea Enzyme Brightening Serum and its accompanying Vitamin C Green Tea Enzyme Brightening Pads in an event on July 11 in Megamall. While the serum was released in stores last year, the pads are completely new.

Pia Ylisa Alday, Marketing Communications Senior Executive for Innisfree Philippines (distributed by Amorepacific Philippines, Inc.) said in a speech, “The green tea enzymes, it actually helps exfoliate your skin. The vitamin C works better because the green tea exfoliates your skin first, so the vitamin C is absorbed better than your skin.”

According to her, it helps fade 45% of dark spots in seven days. According to their website, Innisfree tested the product for three days and four weeks on women aged 20 to 49. Other results in the test included an improvement on acne marks and uneven skin tone.

Addressing skin sensitivity with vitamin C products, Ms. Alday pointed out that in an irritation test they performed, the sensitive skin response was 0.00 (the website says that this was a primary irritation test they performed on sensitive skin). “They’re actually safe to be used every day,” she said. Onstage, she announced that they were handing out keyrings attached with tubes of their own sunscreen: “When you use vitamin C, you should always use suncreen. Actually, if you don’t use vitamin C, you also have to wear sunscreen.”

In an interview with BusinessWorld, she did say, “We don’t recommend using it together with retinol.” Retinol, a member of the vitamin A family, is often used to treat signs of ageing in skin.

BEAUTIFUL SKIN, BEAUTIFUL EARTH
Ms. Alday also discussed their sustainability campaigns: in February this year, Innisfree received its cruelty-free certification from People for the Ethical Treatment of Animals (PETA). She explained that they only received their certification this year because in some countries (like China), animal testing is still a requirement. “We discontinued the items that are still required to be tested on animals in China,” she said. Other sustainability measures include printing boxes with soy ink, and recycling empty bottles of their products. “You can actually return that to our stores, and we repurpose,” she said. “We’ve actually recycled 1400 tons of bottles.”

She points out that they source their ingredients sustainably: “We’ve been working with other sustainability groups and then we try to make sure that the ingredients we get are from sustainable sources.” For example, the vitamin C in the new products is made from Korea’s Hallabong oranges.

“We get our ingredients from nature…we cannot just take from nature. We have to give back also,” she said.

Innisfree stores can be found in Festival Mall, Glorietta 3, SM Mall of Asia, SM Aura, Mitsukoshi BGC, SM Baguio, SM City Iloilo, SM Clark, SM North EDSA, SM Megamall, SM Makati, and Trinoma. — JLG

For a better glow

DEWHA.CO

By Zsarlene B. Chua

Beauty Review
Dewha 10-day Signature Line Starter Kit

AS A skincare enthusiast and occasional reviewer, one of my favorite things to do is try out new brands I haven’t tried or even heard of before and put their unique selling proposition to the test — whether it was specifically formulated for those with combination skin or dry skin, or anti-aging, etc.

When I got my hands on Dewha, I was excited to see if their formulas would make my skin glow. Dewha is a Singaporean beauty brand established in 2020 that claims to be a “skincare-cosmetic hybrid brand” which is a fancy way of saying that their make-up has skincare ingredients in them. With a tagline “Own Your Glow” — the brand philosophy is all about glow-focused skincare. But what even constitutes glowy skin?

Glowing skin, according to Medical News Today, typically refers to healthy-looking skin that can be achieved through a consistent and effective skincare routine alongside a balanced diet and adequate sleep. Glow, in this case, means a healthy skin that radiates vitality and wellness. It’s a more holistic way of looking at skin health.

The question now is, can you really achieve glowing skin through skincare alone — and in 10 days? Well, Dewha is trying to make a case for itself with its 10-day Signature Line Starter Kit that promises glowing skin in that period.

I typically use skincare products for a few weeks to really test them out for effectiveness and overall experience. Since Dewha has a trial pack that promises results in a little over a week, then that’s where we’ll base this review on.

The Dewha products were provided by the brand for BusinessWorld’s review.

PACKAGING AND FORMULA
Dewha’s 10-Day Signature Line Starter Kit (P2,399) contains three products — Marine Pearl Double Peel and Detox Exfoliator (3 sachets at 6g each); Marine Pearl Revitalizing Glow Essence (20 ampoules at 2 ml each); and the Marine Pearl Double Regen Jam and Cream (10 sachets at 2 g each).

I do appreciate offering a trial set for people new to the brand, but I’m not really a fan of single-use sachets. While I understand that the sachets are to control the amount of product used, I’ve used trial sets that come in tiny bottles (plus, they’re perfect for travelling!)

Eco-friendly packaging concerns aside, what I did like about Dewha is their commitment to streamlining one’s skincare routine with just three products. Well, it’s not really “just” three products as the exfoliator comes with a peeling gel and a physical scrub. The moisturizer comes in either jam and cream form, but I do appreciate that they specifically write it on the box how and when to use each product.

On formulation, it comes with its trademarked Crystal PRO-Biosome formula said to “stimulate skin regenerative processes, boosting the production of peptides, collagen, and ceramides.” It also includes exosomes (is it the new “it” ingredient as EXO Celestial which I reviewed previously also had it as a key ingredient) for accelerate tissue regeneration and skin repair; probiotics fermented to strengthen skin barrier, protect against environmental damage, and combat inflammation; and pearl and marine mineral extract for skin brightening properties.

All in all, it looks good on paper.

ROUTINE
While it is a streamlined process, the three products don’t really constitute an entire skincare regimen, at least for me. Exfoliators are a once-a-week thing which means I need to still use a facial cleanser before using anything from the line. For this review, I’m using Dermorepubliq’s Clarifying Gentle Face Wash + Niacinamide + Botanical Extracts (P199/100 ml), which is, as stated, a very gentle facial wash, perfect for these kinds of experiments (it doesn’t have highly reactive ingredients and provides a clean canvas for new products).

After cleansing my face, I used the Marine Pearl Double Peel and Detox Exfoliator. I used the peeling gel first. Peeling gels work by gently exfoliating the skin’s surface. They contain enzymes or mild acids that break down and dissolve dead skin cells and debris on the skin’s surface, which are then physically rolled away as the gel is massaged into the skin. So no, the blobs that you rub away are not your dead skin, but rather the ingredients that help remove those dead skin cells.

As experienced as I am when it comes to skincare, peeling gels terrify me as it has led to injury on my face more than once — it’s a user error as I don’t dry my face enough before I use peeling gels and the blobs that exfoliate stick on the fine wet hairs on my face. When I remove it by scrubbing, my skin comes with it.

Too much information, I’m sure, but peeling gels and I don’t really mesh well together. I was terrified using the peeling gel at first and I did have some trouble with it at first as again, I didn’t dry my face enough. After I managed to remove the blobs by washing my face with cleanser again and a soft washcloth, I came out with a few sensitive areas but no injuries, which is a win in my book.

I typically would have stopped using peeling gels after that, but I made a commitment, so I used it again the next week and I did much better, but overall, I’m just not a fan of peeling gels.

What I was a fan of was the Detox Exfoliator part of the routine which is a gentle physical exfoliant you use after the peeling gel. You rub the teal blue exfoliator on the rougher, oilier areas of your skin or the T-Zone, which for me is my nose and between my brows to clean them up. Do use caution when rubbing as it can injure your skin — if you’re my age and used those apricot scrubs, you know what I mean.

The result of the exfoliators was a softer, smoother base, prepping it for the other products in the line.

Next up is the Marine Pearl Revitalizing Glow Essence. Essences are a hybrid product that combines the consistency of a toner with the active ingredients of a serum. 2 ml might not look like much (but I promise you that it is). I was able to do three rounds of the product when applied using my hands and not cotton rounds, really packing in the hydration and active ingredients before I went in on the cream. If you know the layering technique of patting your face with toner or essence, letting it set a bit, then doing it all over again until you achieve that hydrated base, that’s what I was able to do with just 2 ml. I enjoyed this product a lot and it might just be my favorite of the entire line — I think this might be the product that lent a noticeable glow on my skin after a week of using it.

The Marine Pearl Double Regen Jam and Cream is the final step. This product really threw me in for a loop as the cream has the consistency of a lightweight gel and is recommended for nighttime use. It’s for when you need more hydration and moisture on drier areas of the face, while the jam (also teal-blue like the exfoliator) has a thicker consistency and is recommended for daytime use and on oilier parts of the face. In my mind, it’s the opposite: the jam is better on the drier areas of my face while the cream on the oilier. I was reasonably confused but I did enjoy the consistency and the effectiveness of each product when used my way. With my skin being normal to dry, I do need more moisture and hydration to get that glow, and I do like how my skin feels after using the jam/cream combo.

At the end of the routine, my face does feel bouncier and brighter, and over the 10 days, I did notice that my skin became softer and more moisturized. While I do need more time to see more permanent effects on my skin like a more long-term reduction of dullness, I am happy to report that I did see a glimmer of a glow on my face. This is especially exciting for me, as now that I’ve reached my 30s, I’m in a constant battle against premature aging.

All in all, I really did enjoy Dewha and I’m working on integrating the products (mostly the essence and jam/cream) into my regular rotation. It does make me consider trying out their cosmetic products as well, but that’s something for further down the line.

I definitely recommend Dewha for those who want a little oomph and glow for their skin.

But as much as I love the products and see how they benefited my skin, I still believe that you don’t need to spend a lot of money to access good skincare products, especially if you’re a newbie. Dewha products are not cheap as its P2,399/40ml for the jam/cream and P1,799/80 ml for the essence.

There are plenty of budget-friendly skincare lines you can explore as you establish your routine. Don’t feel pressured to use only the trendiest products on the market. What truly matters is finding products that effectively suit your skin’s needs at a price point that fits your budget. Skincare products are just one aspect of achieving healthy skin: your lifestyle choices also play a crucial role.

In the same way, if you’re someone with a bit more disposable income, don’t feel bad investing in more premium products and ingredients. Treat yourself to the best skincare that fits your budget and meets your needs.

 

Zsarlene Chua is a former BusinessWorld reporter who is now a fledgling PR girl. She’s all about skincare, makeup, and video games. None of the products reviewed are the writer’s clients. Contact the author at zsarlene.chua@gmail.com.

T-bill, bond rates may drop on BSP easing hints

STOCK PHOTO | Image by RJ Joquico from Unsplash

RATES of Treasury bills (T-bills) and Treasury bonds (T-bonds) to be auctioned off this week may continue to decline after the Bangko Sentral ng Pilipinas (BSP) chief reiterated that they remain on track to cut borrowing costs for the first time in over three years as early as next month.

The Bureau of the Treasury (BTr) will auction off P20 billion in T-bills on Monday, or P6.5 billion each in 91- and 182-day papers and P7 billion in 364-day debt.

On Tuesday, the government will offer P30 billion in reissued 10-year T-bonds with a remaining life of nine years and six months.

Yields on the T-bills and T-bonds to be offered this week could track the broad drop in secondary market yields seen on Friday after Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. reiterated the possibility of an August rate cut, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

Secondary market yields ended mostly lower on Friday on profit taking after US Treasuries rallied following softer June US consumer inflation data, which bolstered expectations that the US Federal Reserve would kick off its own policy easing cycle by September.

The reissued 10-year bonds on offer this week could see strong demand and fetch yields ranging from 6.2% to 6.3%, the trader added.

At the secondary market on Friday, the rates of the 91-day and 364-day T-bills went down by 3.07 basis points (bps) and 3.68 bps week on week to end at 5.6845% and 6.0480%, respectively, based on PHP Bloomberg Valuation Service Reference Rates data published on the Philippine Dealing System’s website. Meanwhile, the 182-day T-bill’s yield went up by 1.7 bps week on week to 5.9839%.

On the other hand, the rate of 10-year bond dropped by 26.13 bps week on week to 6.2503%.

Last week, Mr. Remolona said the better-than-expected June inflation print gives them “a bit more scope for easing” in their Aug. 15 review.

Headline inflation eased to 3.7% in June from 3.9% in May. This was below the 3.9% median estimate in a BusinessWorld poll of 14 analysts. The June consumer price index (CPI) was within the BSP’s 3.4-4.2% forecast for the month, and also marked the seventh straight month that inflation settled within the central bank’s 2-4% annual target.

For the first six months, the CPI averaged 3.5%, slightly faster than the BSP’s 3.3% full-year forecast.

The BSP last month kept its policy rate at a 17-year high of 6.5% for a sixth straight meeting after raising interest rates by a cumulative 450 bps from May 2022 to October 2023.

Meanwhile, US consumer prices fell for the first time in four years in June amid cheaper gasoline and moderating rents, firmly putting disinflation back on track and drawing the Federal Reserve another step closer to cutting interest rates in September, Reuters reported.

The consumer price index dipped 0.1% last month, the first drop since May 2020, after being unchanged in May, the Labor department’s Bureau of Labor Statistics said.0.4% in May.

In the 12 months through June, the CPI climbed 3%, the smallest gain since June 2023. That followed a 3.3% advance in May. Economists polled by Reuters had forecast the CPI ticking up 0.1% and gaining 3.1% year on year.

Last week, the BTr raised P20 billion as planned from the T-bills it auctioned off as total bids reached P43.185 billion, or more than twice as much as the amount on offer.

Broken down, the Treasury borrowed P6.5 billion as programmed from the 91-day T-bills as tenders for the tenor reached P14.18 billion. The average rate for the three-month paper rose by 1.2 bps week on week to 5.698%. Accepted rates ranged from 5.65% to 5.724%.

The government likewise made a full P6.5-billion award of the 182-day securities, with bids reaching P15.56 billion. The average rate for the six-month T-bill stood at 5.968%, inching up by 0.9 bp from the previous week, with accepted rates at 5.92% to 5.995%.

Lastly, the Treasury raised the planned P7 billion via the 364-day debt papers as demand for the tenor totaled P13.445 billion. The average rate of the one-year debt increased by 2.3 bps to 6.073%. Accepted yields were from 6.03% to 6.095%.

Meanwhile, the reissued 10-year bonds to be offered on Tuesday were last auctioned off on June 11, where the government raised just P26.225 billion out of its P30-billion offer at an average rate of 6.754%, 50.4 bps above the 6.25% coupon rate.

The BTr wants to raise P215 billion from the domestic market this month, or P100 billion from T-bills and P115 billion via T-bonds.

The government borrows from local and foreign sources to help fund its budget deficit, which is capped at P1.48 trillion or 5.6% of gross domestic product for this year. — AMCS with Reuters

SEC integrates digital services into eSECURE platform

BW FILE PHOTO

THE Securities and Exchange Commission (SEC) is integrating all of its digital services into a single platform called the Electronic SEC Universal Registration Environment (eSECURE) to increase the security of its online transactions and as part of its shift to automated processes.

The corporate regulator issued Memorandum Circular (MC) No. 10 on July 10, which provided the guidelines on the eSECURE platform, the SEC said in a statement over the weekend.

“eSECURE serves as a user’s digital passport to the different online services provided by the commission, allowing the management of one’s SEC accounts and online transactions from one place through a single account,” the SEC said.

The platform allows risk-based credentialing procedures using a repeatable electronic know your customer (eKYC) process and credentialing system that aims to strengthen the identification, trustworthiness, reachability, and veracity of persons representing corporations and individuals using the commission’s online services.

Credentialing via eSECURE is needed for sensitive SEC online services such as the company registration system, research and data retrieval service, automated certification examination system, complaint systems, and capital market participant licensing.

“The eKYC process serves as an important tool to curb money laundering and terrorist financing committed through the use of corporate vehicles,” the SEC said.

“The credentialing system also provides a more efficient alternative to the use of wet signatures and notarization in documents submitted to the SEC, as these documents may now be digitally authenticated,” it added.

Meanwhile, the SEC said that users of online services not categorized as sensitive or critical may opt not to register for an eSECURE account, but will be required to establish their identity for each online SEC transaction.

Other SEC services, such as the Electronic Filing and Submission Tool, the MC 28 Submission Portal, and the Electronic System for Payment to SEC, will also be integrated into eSECURE in the future.

“To ease the transition to and adoption of the registration and authentication process through eSECURE, the process will not be mandatory, which means that the public may still avail of SEC online systems and submit scanned hard copies of documents that are manually signed and duly notarized,” the SEC said. — Revin Mikhael D. Ochave

Why is Sweden paying grandparents to babysit? It’s worth a try

JOHNNY COHEN-UNSPLASH

AT FIRST GLANCE, the policy sounds absurd, especially to many Americans: In Sweden, grandparents are now eligible for government subsidies to babysit their grandchildren. As a proud grandparent myself, I would be willing to pay to babysit my grandkids. (I don’t have to, but I would.) It would feel wrong to accept government money for my services.

And even in the Swedish context, the program seems excessive. The country has long had first-rate and well-subsidized child-care facilities, which is another reason not to pay grandparents anything, and Sweden already has high levels of government spending and taxation. Is this additional benefit — and expenditure — really what it needs?

But sometimes even apparently foolish ideas have compelling rationales — so compelling, in fact, that you begin to rethink whether they’re foolish at all. These are often the cases that require the hardest thinking.

If you look at Sweden’s policy closely, it adheres pretty well to some basic economic principles: namely, the notion of Pareto improvements, which benefit all parties involved.

Start with the fact that Swedish parents currently receive extensive paid leave upon the birth of a child, and so it can be said they are already paid to look after their children. Whether or not you agree with that policy, it is longstanding and well-established. Take it as a given.

Now imagine that you are an ambitious Swedish doctor or lawyer, climbing the career ladder, and are self-aware enough to realize you do not always have entirely the right degree of natural patience necessary for parenting. In that case, you might prefer to go back to work following the birth of your child. Under the status quo ex ante, you could not work and draw your normal salary and still get the full child-care benefit, even though some child benefits are paid automatically.

There is thus a potential inefficiency in the system. You may stay at home just to get the money, even when an alternate arrangement might be better for everyone.

Now add grandparents to this equation. If the grandparents can be paid to take care of your child, all of a sudden the extended family as a whole doesn’t lose the money by having the parent go back to work. Instead, that money is transferred to the grandparents, so the work disincentive is diminished.

And economists will tell you that the parents and grandparents can do their own settling up. If the grandparents are well-to-do, for instance, and eager to spend time with their grandkids, they might funnel some of that money back to the parents or the child, either directly or indirectly. In some cases, on net, the grandparents may not end up getting paid anything at all.

In essence, you can think of this policy as a model designed to maximize gains from trade.

One side effect is that, to the extent the parent who returns to work is a high earner, government tax revenue will increase. That will help pay for the policy, partially if not entirely.

The logic for this policy may hold all the more for single parents. In that case, the costs of giving up work may be even higher, since on a single income climbing the career ladder and investing in future earnings will be all the more important. Enlisting aid from grandparents may also be more necessary, given the higher burdens on a single caregiver. A defender of the policy would cite these accommodative benefits, whereas a critic might allege they encourage single parenthood too much.

More broadly, fiscal conservatives might point out that the policy still costs some money upfront, while social conservatives might argue that it commodifies family relationships. The policy’s supporters, on the other hand, might note that it can help some people get back to work and also make the grandparents happier. The children might benefit too.

As for myself, I am still unsure whether this new policy is a good idea, though it has stronger virtues and benefits than I first thought. But I am all the more certain of one final lesson: Framing is everything. The very same policy, described in different terms, can sound eminently reasonable or badly out of whack. Keep that in mind next time you are tempted to render a quick verdict on someone else’s idea.

BLOOMBERG OPINION

Natural habitat

PHOTO BY DYLAN AFUANG

Taking the beaten path with the Ford Bronco and Mustang

By Dylan Afuang

FORD’S WILDEST and youngest animals — the Mustang muscle car and Bronco SUV — descend from vehicle species that are seen as having rough and raucous personalities. These new versions boast of gadgets that aim to modernize, but still capture, the raw driving experience for which their nameplates are known. Could the new cars fulfill this promise?

On the snaking tarmac of the Clark International Speedway and the perilous terrain around the Sacobia River — both in Pampanga — media and content creators experienced the most advanced spawn of the Mustang and Bronco breeds brought here by Ford Philippines.

Now in its seventh generation, the latest Mustang is touted as the sharpest-handling among its iterations. Mustangs of yesteryear — particularly the 1965 original — gave birth to the American “muscle car” segment, or coupes whose powerplants result in superb straight-line speed, mated to chassis that exhibited relaxed, if not sharp, handling.

Two Mustang breeds are available locally: the 2.3L EcoBoost Premium Fastback (P3.499 million), and the 5.0L GT Premium Fastback (P3.999 million) whose V8 engine boasts 493hp and 567Nm of torque. Standard on both versions are rear-driven wheels, a slick-shifting 10-speed automatic transmission, Ford’s MagneRide Damping System, and Brembo brakes.

“Here, you can feel the difference in the car’s performance, ride, and handling,” Ford Philippines Managing Director Mike Breen boasted of the Mustang’s merits to the media.

Behind the wheel of the Mustang GT Premium, we found the car’s Active Valve Exhaust, which allows the exhaust to exhibit noises from somber to snarling, enhancing the driving experience beyond the V8 engine’s sheer turn of speed. With the “Track” driving mode activated, stability nannies weakened and the MagneRide system kept the car balanced amid spirited cornering.

Tracing its roots back to 1966, the latest Bronco, which the world first saw in 2021, is a revival of a rugged SUV nameplate that bowed down in the ’90s to make way for the more luxurious Expedition. Both legacy models promise off-road driving thrills, but with the former’s Sasquatch package, the Bronco expresses this more boldly.

The Sasquatch package comes standard in the sole variant available here, which is aptly called the Bronco Outerbanks with Sasquatch package (P4.998 million). The suite includes 17-inch alloy wheels shod in chunky, 35-inch mud terrain tires flanked by fender flares, and Bilstein shock absorbers and high-riding suspension.

“There’s nothing like driving the SUV that started it all for Ford in its element,” the executive said of the Bronco. The elements Mr. Breen referred to were the slippery rocky and lahar-coated trails, muddy hills, and the shallow river around and in Sacobia — all of which the SUV easily conquered.

Indeed, we witnessed the SUV’s “Goes Over Any Type of Terrain” (GOAT) selection of seven driving modes live up to its name. Front and rear locking differentials boosted the Bronco’s grip. The 360-degree camera offered a crisp view of the dips and ruts of the course. The Trail Turn Assist locked one of the vehicle’s inside wheels to make it perform a tight U-turn over the rocky trail.

Beyond their novel and functioning technologies, the endearingly rugged characteristics of Ford’s classic muscle car and off-roader remain.

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