How Pernod Ricard is promoting responsible drinking in the Philippines

March 13, 2025 | 12:07 am

LIQUOR COMPANY Pernod Ricard is doubling down on promoting responsible drinking in the Philippines with the launch of its digital labeling, which also serves to support the company’s growth in the country.

“The Philippines is one of our fastest growing markets,” Hadyu Ikrami, head of legal, public affairs, communications, and sustainability and responsibility at Pernod Ricard Philippines, said in an interview with BusinessWorld.

“We constantly look into ways to strengthen our presence here and improve customer experience… and we want to keep this momentum via investing our brands in the Philippines,” he added.

Pernod Ricard carries over 200 brands, such as Beefeater Gin, Jameson Irish Whiskey, Ballantine’s Scotch Whisky, Chivas Regal, and Absolut Vodka.

“All major supermarkets and convenience stores are carrying our brands; we have nationwide coverage for modern on-trade outlets. We have an office and warehouse in Metro Manila,” he said.

“Locally produced Western-style product categories, like gin, rum, and brandy, are very big in terms of volume in the Philippines with their very low prices. Long-term conversion to aspirational international brands makes the Philippines an attractive market for our category,” he added.

CRÉATEURS DE CONVIVIALITÉ
“Our motto is ‘Createurs de Convivialité,’ which means creators of conviviality, and we believe that true conviviality starts with responsibility,” he said.

“When consumed responsibly, our products can bring people together to celebrate and enjoy the moment. Excessive drinking undermines that spirit and can also lead to serious health and social issues,” he added.

To promote responsible drinking, Pernod Ricard recently launched its new digital label system in the Philippines, which aims to respond to customers’ growing need to know more about the products they consume.

“We want to provide consumers who choose to drink with accurate information about our products to empower them to make informed choices about whether and how much they should drink,” he said.

The spirit maker’s digital labeling program is part of the wider U-label program put in place by the European wine and spirits industry associations.

“The European pilot program was launched in the summer of 2022, focusing on a selection of the group’s international brands,” said Mr. Ikrami.

“After this first phase, digital labels were gradually rolled out across the world with the full brand portfolio between 2023 and 2024. Since the end of 2024, the digital labels have been available across all our markets, including the Philippines,” he added.

He said that the Philippines is actually one of the first markets in the region where Pernod Ricard launched the initiative, along with Singapore.

“We have also noticed a trend that other industry players that are also producing alcoholic beverages are also following our footsteps in launching their own digital labels,” he said.

“So we are happy to be the pioneers of this initiative because we see that there’s a trend going towards more and more digital labels produced by different companies in the industry,” he added.

DIGITAL LABEL
The digital labels, or electronic labels (e-labels), are QR codes printed on the bottles’ back labels that lead to dedicated web pages that offer product information, health guidelines, responsible drinking advice, and more.

“By virtue of this e-label, there is localized guidance to help with moderation with tips on national drinking guidelines,” said Mr. Ikrami.

“If you scan the QR code, you will have all the necessary information about the ingredients of this beverage and also about the national drinking standard from the Philippine Food and Nutrition Research Institute of the Department of Science and Technology,” he added.

He said that the labels are geolocalized, meaning that the information consumers in the Philippines will get from scanning the bottles in the country will be different from that they would find scanning the QR codes elsewhere.

“The information that you get from scanning a bottle here would only be applicable in the Philippines because we are following the guidelines of the local government,” he said.

“If you scan the QR code in other markets, such as in Singapore, it would be slightly different in some aspects,” he added.

He said that the goal is to go a step further than providing nutrition and ingredients and provide easily understandable national drinking guidelines and set industry standards for digital labeling.

“We want to be the market leader for this, and we have been because ever since we launched this digital label in other markets, we saw the trend of other companies also following our footsteps,” he said.

Following the launch, Mr. Ikrami said that Pernod Ricard is looking at ways to improve the digital labels.

“We are committed to working with partners in the industry and with consumers to help evolve this e-label. We don’t want to say that it’s a perfect initiative because obviously there’s always room for improvement, especially by collaborating with other industry players,” he said.

“We look forward to any collaboration with any third party that would like to work with us in developing this initiative. We want to work with industry and consumers to drive uptake and usage of this e-label,” he added. — Justine Irish D. Tabile

ACEN’s profit up 27% to P9.36B in 2024

March 13, 2025 | 12:07 am

ACEN CORP., the listed energy arm of the Ayala Group, saw its attributable net income rise by 27% to P9.36 billion in 2024, driven by higher generation output.

Revenues grew by 2.2% to P37.30 billion from P36.50 billion a year ago, ACEN said in a regulatory filing on Wednesday.

Costs and expenses, meanwhile, declined by 13.8% to P27.36 billion.

“ACEN’s financial results in 2024 demonstrate our ability to convert a robust development pipeline into a renewable energy portfolio that can deliver strong and stable investor returns over the long term. This focus on execution will remain central as we move forward,” said Jonathan Back, chief financial officer and chief strategy officer of ACEN.

During the period, attributable renewable output rose by 25% to 5,596 gigawatt-hours (GWh), driven by generation from plants that were activated throughout the year, despite a decline in Philippine wind generation in the fourth quarter.

The company’s generation output from its Philippine operations rose by 60% to 1,826 GWh, supported by the completion of several renewable energy projects.

For its international operations, ACEN generated 3,770 GWh from its renewable energy plants, an increase of 13% compared to the previous year.

ACEN Renewable Energy Solutions, the group’s Philippine retail electricity arm, expanded its portfolio by 26% to 374 megawatts across 554 customers from various sectors, including industrial, educational, and residential.

To date, the company holds 7 gigawatts (GW) of attributable renewable energy capacity across operational, under-construction, and committed projects.

“ACEN continues to progress toward our goals, notwithstanding the global headwinds impacting the energy transition. The company remains committed to scaling up renewables in the Philippines and across the region,” said Eric T. Francia, president and chief executive officer of ACEN.

At the local bourse on Wednesday, shares in the company declined by 3% to close at P2.91 each. — Sheldeen Joy Talavera

Potatoes are filled with nutrients, says trade group

March 13, 2025 | 12:06 am

POTATOES USA, the marketing arm of the American potato growers, hosted a talk about the health benefits of potatoes on March 6 in Makati City. Aside from presenting fun facts about the vegetable, the organization invited a speaker to give more details.

Jo Sebastian, a registered nutritionist and dietitian, showcased the versatility of potatoes in a diet, whether baked, roasted, or fried. “They’re an excellent source of vitamin C and potassium, and fuel for your brain and body because of complex carbohydrates. For example, you can try adding some mini potatoes into your first meal — see how that helps you sustain energy for the rest of the day,” she said.

However, with these benefits come a lot of misconceptions regarding the nutrient content.

Ms. Sebastian noted that Filipinos seeking weight loss tend to be “scared off” by the mention of carbs, taking after Western trends in dieting, even though they are an important fuel for people’s bodies.

“Potatoes are actually considered a lower-calorie carb source, meaning it will help you feel energized but can fit in a well-balanced diet,” she explained. “Carbs often get a bad reputation, but they’re important because they’re the preferred energy source of your brain and blood cells.”

Complex carbohydrates in particular, which potatoes contain, take more time to break apart, which is ideal for those who need sustained energy throughout the day.

Meanwhile, potatoes’ vitamin C content strengthens immunity and maintains skin health while potassium (surprisingly contain more than banana) helps with fluid balance, muscle contractions, and healthy blood pressure.

For Ms. Sebastian, that potatoes fit in well with Filipino dishes like afritada, kaldereta, menudo, giniling, adobo, and even torta makes it a great choice for regular consumption.

US VS PHILIPPINE POTATOES
Though the Philippines grows its own potatoes, it is the largest importer of US frozen potatoes in Southeast Asia. The leading markets in all of Asia are Japan, South Korea, and the Philippines.

“Generally, the content of US potatoes and Philippine potatoes should be the same. They’re all healthy,” said Reji Retugal, Potatoes USA country representative to the Philippines.

The main difference would be the varieties available — one of which is hard to grow here. “Unfortunately, we do not grow russet potatoes here, which are the ones primarily used for fries, because they’re big and require a different kind of soil that’s looser and less rocky,” explained Ms. Retugal.

The Philippines also has different farming practices that may create differences in quality.

“In the US, potatoes are stored in climate-controlled facilities to slow aging and preserve freshness,” she said. “The Philippines lacks this technology, so local potatoes often degrade faster due to heat and improper storage.”

The country receives fresh imports usually between November and March. US potatoes are available in fresh, frozen, and dehydrated forms.

Ms. Retugal recommended that potato buyers ensure proper storage, keeping the root vegetable in a cool pantry or refrigerator, to keep them fresh. “Just don’t place them next to other vegetables like onions or garlic. Potatoes are porous and can easily absorb other smells and flavors,” she said.

In terms of diet, Ms. Sebastian shared that having more than one carb source is alright, as long as they are in rotation.

“As an Asian, I still love my rice. Instead of replacing it, consider adding potatoes into your rotation of carbohydrate sources for variety and better nutrition,” she explained.

Frying potatoes may be delicious, but the process adds extra fat and calories. The recommendation is to eat potato this way at most two or three times a week.

Ms. Sebastian concluded: “Whether you bake, roast, or steam your potatoes, you’ll be able to get all the nutrients in there.”

US-grown potatoes can be found fresh, frozen, or instant (dehydrated) in most Philippine supermarkets. — Brontë H. Lacsamana

Globe Business, Shakey’s partner for digital solutions

March 13, 2025 | 12:06 am

GLOBE TELECOM, Inc., through its corporate arm Globe Business, has partnered with Shakey’s Pizza Asia Ventures, Inc. (SPAVI) to improve the restaurant chain’s operations using advanced digital solutions.

The partnership between the Ayala-led telecommunications company and SPAVI will focus on improving SPAVI’s order management system to optimize store operations, Globe Business said, adding that it will provide cloud-based solutions to enhance operational efficiency.

“These solutions provide seamless access to point-of-sale systems, centralized data sharing, and real-time monitoring, enabling SPAVI to reduce manual processes and make informed decisions more efficiently,” Globe Business said.

Globe Business will also help SPAVI refine its inventory management, ensure order accuracy, and strengthen overall business operations.

“We are not looking for mere solutions; we need a true partner like Globe Business, one who understands our values and proactively identifies and creates opportunities. We deeply value the insights Globe Business brings and look forward to their continued innovative contributions to our shared success,” said SPAVI President and Chief Executive Officer Vicente L. Gregorio.

Globe Business said improving digital solutions for companies like SPAVI is essential, especially as SPAVI expands its portfolio. As of 2024, the restaurant chain’s network has surpassed 2,600 stores and outlets, with both domestic and international expansion driving its growth.

At the stock exchange on Wednesday, shares in Globe fell by P16, or 0.74%, to close at P2,150 apiece, while shares in SPAVI remained unchanged at P7 each. — Ashley Erika O. Jose

Philippine banks to stay resilient amid strong economic backdrop

March 13, 2025 | 12:06 am

By Luisa Maria Jacinta C. Jocson, Reporter

THE PHILIPPINE banking system is seen to remain resilient amid support from a strong macroeconomic environment, Moody’s Ratings said, with profits expected to be stable amid robust credit growth.

“We maintain a stable outlook for the Philippines’ (Baa2 stable) banking system. Strong economic growth underpinned by further rate cuts and stabilized inflation in 2025 will drive credit demand and support loan quality,” the debt watcher said in a report.

“Banks’ profitability will remain broadly stable as net interest margin compression will be modest because of the weak monetary policy transmission to banks’ lending rates in the Philippines.”

Latest data from the Bangko Sentral ng Pilipinas (BSP) showed the net profit of the country’s banking industry rose by 9.76% year on year to P391.28 billion in 2024.

Moody’s said Philippine banks’ capitalization is expected to remain strong.

“Capital levels will remain high, as strong shareholder support and internal capital generation keep pace with high credit growth,” it said.

It expects bank’ credit growth to accelerate to an estimated 12% this year amid declining interest rates and surge in business activity and consumer sentiment.

Bank lending jumped by 12.8% to P13.02 trillion in January, its fastest pace in over two years, central bank data showed.

“Reserve ratio requirement cuts by the central bank will also drive credit growth, by releasing more liquidity for banks to channel into lending,” Moody’s added.

The RRR of universal and commercial banks and nonbank financial institutions with quasi-banking functions will be reduced by 200 bps to 5% from 7% later this month. BSP Governor Eli M. Remolona, Jr. has said big banks’ RRR can be brought down to zero eventually.

“Strong credit growth and the increasing share of higher-yielding retail and small and medium enterprise (SME) loans will also support yields,” it said.

However, Moody’s noted that retail loans have been growing by 35% over the past two years, “posing loan seasoning risks.”

“Policy rate cuts will support borrowers’ debt repayment capacities, which will mitigate potential loan quality deterioration from the seasoning of newer retail and SME loans.”

The BSP began its easing cycle in August last year, slashing borrowing costs by a total of 75 basis points (bps) to bring the policy rate to 5.75%.

“Meanwhile, the quality of loans to large conglomerates will remain solid, notwithstanding the concentration risks they pose to banks,” Moody’s said.

“Loan loss reserves will decrease, but the larger Philippine banks will continue to have stronger buffers against any loan losses, compared to the smaller banks.”

Banks’ loan loss reserves amounted to P488.48 billion, up by 1.6% from P480.64 billion in December and by 5.7% from P462.12 billion a year ago. This brought the January loan loss reserve ratio to 3.22% from 3.14% in December and 3.45% in the same month in 2024.

“Banks continue to reduce their real estate exposure and we expect stable operating conditions in the sector in 2025,” Moody’s added.

Banks’ real estate exposure ratio dropped to 19.55% at end-September from 19.92% at end-June and from 20.55% at the end of September in 2023. This was the lowest real estate exposure ratio recorded in five years or since the 19.5% as of September 2019.

Meanwhile, Moody’s expects credit costs to rise “modestly” as banks grow their retail and SME loan portfolios, but this can be offset by their loan loss reserves.

“Funding and liquidity in the banking system will remain robust,” it added.

GROWTH OUTLOOK
Moody’s Ratings expects the Philippine economy to grow by 6% this year and next, which will benefit banks.

The credit rater’s forecast is at the low end of the government’s 6-8% growth target for 2025 and 2026.

Philippine gross domestic product grew by 5.6% in 2024, well below the government’s 6-6.5% goal for the year.

“Although global uncertainties pose upside risks to inflation, we expect it to remain between 2% and 4%, which will support further policy rate cuts in 2025,” it said.

“As a result, domestic consumption and investments will improve, giving further stimulus to the economy,” it said. “Given the country’s consumption-led economic model, we expect the impact of higher tariffs on the Philippines under the Trump administration to be muted compared to its regional peers.”

On Tuesday, Mr. Remolona said a rate cut is “on the table” at the Monetary Board’s policy meeting next month, which has been rescheduled to April 10 from April 3 previously.

He added that the BSP is still on easing mode and expects to slash benchmark borrowing costs by “a few more times” this year.

The Monetary Board in February unexpectedly paused its rate-cut cycle, which Mr. Remolona said was a “prudent” move amid uncertainty over the trade policies of US President Donald J. Trump and their potential impact on the Philippines.

A visit to New World’s refurbished Café 1228

March 13, 2025 | 12:05 am

AFTER a month and a half after closing the Café 1228 buffet at the New World Makati Hotel, it reopened its doors on the penultimate day of February. Its refurbishment comes with a brighter interior with new countertops, and even a hydroponics system at the salad station (your salad is basically alive) — and a way to welcome its new Executive Chef, Warren Brown.

We counted nine stations during our Feb. 27 visit: Western, Noodles, Chinese, Seafood, Pan-Asian, Japanese, Salads, Cheeses, and Desserts.

The buffet gets a lot of its strength from its Chinese station (noting that Chinese mainstay Jasmine restaurant is just upstairs) but we must commend the lamb curry from the Asian station for its forward, filling flavor, as well as the roast beef from the Western carving station. The sushi was above average for its location (we wag our finger at some hotels, especially those located near the water, that manage to screw up fish).

SALADS AND SALT
As mentioned, Café 1228 introduced the hydroponics system at the salad station, providing fresh, sustainably grown greens. “Sustainability is a core value of Rosewood Hotels & Resorts, and having our own hydroponic garden is a step in that direction. By growing our own herbs and greens, we reduce waste, cut down on transportation emissions, and ensure that we’re using the freshest ingredients available. It’s a great way to bring sustainability into the heart of our kitchen while delivering better quality to our guests,” Mr. Brown said in an e-mail.

The restaurant also proudly supports local salt farmers by incorporating Philippine artisanal salts into its menu. Guests can now enjoy the distinct flavors of Asin Tibuok from Bohol, a rare, smoky salt formed in clay pots; Asin Tultul from Guimaras, a hardened salt block with a unique umami profile derived from a mix of seawater and coconut milk; and Asin Buy-O from Zambales, a fine sea salt produced through a traditional brining and filtration process unique to the region’s northern coast. Mr. Brown said, “It’s a small but meaningful way to showcase high-quality local ingredients while enhancing the overall dining experience.”

He said, “The renovation allows us to elevate everything — from the ambiance to the quality of food and service. We wanted to create a more engaging and interactive atmosphere where guests can truly enjoy great food in a vibrant setting.”

The refurbishment of the café is only the first step.

“Café 1228’s reopening is just the beginning. We’re continuously working on enhancing the overall dining experience, from seasonal specials as well as some special surprises down the road. Guests can also look forward to exciting updates in our other restaurants, like Jasmine, where we’ve introduced new dishes that highlight premium ingredients and bold flavors. We’re always exploring ways to bring fresh, innovative dining experiences to our guests, and there’s plenty more to come,” Mr. Brown said.

Café 1228 is open daily for breakfast from 6 to 10 a.m., with extended hours until 10:30 a.m. on weekends and holidays. Lunch is available from noon to 2:30 p.m., and dinner is served from 6 to 9:30 p.m. Weekday lunch is priced at P2,800 net per person, with weekend lunch and Friday to Saturday dinner at P3,800 net per person. Sunday to Thursday dinner is available at P3,300 net per person. For reservations and inquiries, contact 8811-6888, visit https://bit.ly/NWMDining or e-mail servicecentre.manila@newworldhotels.com. — JLG

MGen unit activates 52.8-MW solar plant in Isabela

March 13, 2025 | 12:05 am

Meralco-solar panels — MGreen Cordon Solar in Barangay Capirpiriwan, Cordon, Isabela.

MGEN Renewable Energy, Inc. (MGreen), the renewable energy arm of Meralco PowerGen Corp. (MGen), has switched on its 52.8-megawatt (MW) solar power plant in Cordon, Isabela.

The solar project is the second under the second round of the government’s Green Energy Auction Program to be completed ahead of schedule, the company said in a media release on Wednesday.

Completed four months early, the solar farm is expected to supply clean and reliable electricity to over 53,000 households, supporting the Philippines’ goal of increasing the share of renewable energy in the power mix to 35% by 2030.

The project is expected to prevent over 50,400 metric tons of carbon dioxide emissions annually, equivalent to removing more than 11,700 gasoline-powered cars from the road, according to the company.

“We want to show that economic progress and environmental responsibility can go hand in hand,” said MGreen President and Chief Executive Officer Dennis B. Jordan.

This is MGen’s seventh solar power plant in the Philippines, following MGreen BulacanSol, Nueva Solar, MGreen Baras Solar, MGreen Bongabon Solar, MGreen SP Calatagan, and MGreen SP Tarlac.

MGen expects to end this year with at least 82 MW of additional capacity from three solar plants.

The company has a pipeline of projects expected to exceed its 1,500-MW renewable energy target before 2030.

MGen is the power generation arm of Manila Electric Co. (Meralco).

Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT, Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera

Yields on BSP’s term deposits end mixed as offer goes undersubscribed

March 13, 2025 | 12:05 am

YIELDS on the Bangko Sentral ng Pilipinas’ (BSP) term deposits were mixed on Wednesday as the offer went undersubscribed, with market sentiment affected by monetary easing expectations and political developments in the country.

The central bank’s term deposit facility (TDF) attracted bids amounting to P202.697 billion on Wednesday, below the P220 billion on the auction block and the P250.471 billion seen a week ago for a P190-billion offer. The BSP awarded just P194.697 billion in papers.

Broken down, tenders for the seven-day papers reached just P87.456 billion on Wednesday, lower than the P110-billion auctioned off by the central bank. This was also below the P115.922 billion in bids for the P100-billion offer seen the previous week. The BSP accepted only P85.456-billion worth of bids to cap the increase in yields.

Accepted yields ranged from 5.74% to 5.78%, a wider band compared with the 5.74% to 5.77% recorded a week ago. This caused the average rate of the one-week deposits to inch up by 0.39 basis point (bp) to 5.7579% from 5.754% previously.

Meanwhile, bids for the 14-day term deposits amounted to P115.241 billion on Wednesday, higher than the P110-billion offering but below the P134.549 billion in tenders for the P90 billion placed on the auction block last week. However, the central bank awarded just P109.241 billion in two-week papers on Wednesday.

The BSP accepted bids carrying rates of 5.7% to 5.79%, wider than the 5.76% to 5.79% margin recorded a week ago. With this, the average rate for the two-week deposits inched down by 0.57 bp to 5.7695% from the 5.7752% logged in the prior auction.

The BSP has not auctioned off 28-day term deposits for more than four years to give way to its weekly offerings of securities with the same tenor.

The term deposits and the BSP bills are used by the central bank to mop up excess liquidity in the financial system and to better guide market rates.

“The BSP TDF average auction yields were little changed after correcting slightly lower for two straight weeks amid some political noises lately, though offset by dovish signals [from the central bank],” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

Former President Rodrigo R. Duterte was arrested by Philippine police on Tuesday at the request of the International Criminal Court (ICC) for alleged crimes against humanity. He was taken to a chartered plane en route to The Hague later in the evening.

The International Criminal Police Organization’s (Interpol) office in the Philippines got a copy of the ICC arrest warrant early Tuesday, and local police enforced it, Malacañang said.

The war on drugs was Mr. Duterte’s signature campaign platform.

The ICC has been investigating the ex-President for alleged crimes against humanity that he supposedly committed when he was Davao City mayor and during the first three years of his government, when the Philippines was still a party to the international tribunal.

Meanwhile, BSP Governor Eli M. Remolona, Jr. on Tuesday said a rate cut is still “on the table” at their policy meeting next month, signaling “a few more” rate cuts for the rest of the year.

The Monetary Board will meet to discuss policy on April 10.

The central bank unexpectedly kept benchmark borrowing costs steady at the February meeting, opting to keep the policy rate at 5.75%. — Luisa Maria Jacinta C. Jocson

From Zero to Billions: Real estate lessons from RE/MAX Regent’s Eddie Santos

March 13, 2025 | 12:04 am

Real estate, famously, moves in boom-and-bust cycles. Just last month, reports of an oversupply in Metro Manila condominiums spread concern about the real estate industry. Cooler heads rose above the speculation, talking about adjustment periods and market correction. And some analysts also noted that the oversupply is a localized event. At the same time, others fell back to the old adage that this too shall pass. Real estate always recovers and the boom will return.

Recently, I had the good fortune of talking to one of the leaders in the real estate industry, Eddie Santos, the founder of real estate brokerage RE/MAX Regent. Not only did Eddie grow RE/MAX from zero to billions in the sustained boom years of the real estate industry, but he also foresaw how parts of the market were overpriced when I interviewed him before the oversupply reports.

Prophetically, Eddie said, “I must admit it’s really overvalued because for 20 years straight, the market has increased and increased. And the developers, what happened is, every time they have a new project, it’s an all-time high, all-time high, all-time high. The market can just take so much. This is my challenge. Bring down the price 20%, I’ll sell all those inventories.”

No stranger to personal hardship and entrepreneurial failures, Eddie Santos embodies the resilience that is required for business to succeed and ultimately thrive — particularly in the cyclical real estate industry. He offers invaluable advice for those who want to make it in real estate and, also, for entrepreneurs who hunger to succeed in their chosen field. Rather than focus on strategy, training, market insight, or access to data — all of which RE/MAX possesses — Eddie chooses to zero in on honesty, integrity, and dedication instead. I’ve highlighted a few of the lessons we can learn from this entrepreneurial master.

RESILIENCE IN REAL ESTATE: ‘WHAT’S IMPORTANT IS GETTING UP’
Prior to founding RE/MAX Regent, Eddie Santos was a stockbroker — yet another boom-and-bust industry. Here, he found early success, but it all came tumbling down after the Asian financial crisis of 1997. Even with this setback, Eddie soon rose again by putting up a real estate brokerage called Regent.

“It wasn’t an easy journey,” Eddie recalls. “I knew nothing about the brokerage industry. In fact, when I got [my clients’] properties, it took me two years to close my first transaction. So zero, zero, zero for two straight years.”

It began with a trickle, just enough to continue operations. But soon, the company, which would become RE/MAX Regent after becoming a part of the global RE/MAX network, would find its feet and rise to success.

“In 2004, things turned for the better,” Eddie recounts. “It was the start of many years of a progressive real estate boom for the Philippines, owing to the fact that the economy became better. And prices year after year after year became an all-time high. I was glad that I was able to start during those years because it laid the groundwork.”

From this foundation RE/MAX Regent grew to 41 offices in the Philippines with over 500 real estate agents in its network.

Eddie summarizes his lessons on resilience, saying, “You have to learn to stand up. I mean, you might fall once or twice, but what’s important is really getting up.”

SECRETS TO SUCCESS: ‘HONESTY, INTEGRITY AND DEDICATION’
To oversimplify the real estate brokerage, RE/MAX Regent is a franchise network. Brokers pay RE/MAX to be part of their network, receiving exposure, training, and access to RE/MAX tools.

The strategy is all in the name. “RE/MAX actually stands for real estate maximums,” Eddie explains. “We give you the maximum commissions. We give you the maximum exposure, the maximum training, and the maximum technology, technological tools.”

But what made RE/MAX Regent different? What propelled them to succeed where others didn’t?

Eddie says, “If you’re going to concentrate in real estate, in putting up a real estate brokerage, you have to know the market, the prices, the zonal values, the location, location, location. These are all key.”

RE/MAX Regent, in particular, focused on the upscale real estate market, famously closing a deal on the first billion-peso home property. And yet, instead of focusing on the network’s strengths or the technology it employs, Eddie focuses on three things: “Honesty, integrity, and dedication to your craft. Those are three very important virtues that one must possess.”

It is these three things that Eddie credits for the success of RE/MAX Regent. Expounding on the topic, he discusses how it all comes back to customer satisfaction.

“The best advertisement is a satisfied customer,” he says, “because they’ll say, ‘Hey Eddie, I’m so happy with your service. The title I got in four weeks instead of like 10 months with other companies. I will recommend you to my friends.’ And when they recommend friends, the other friends start recommending.”

REAL ESTATE ADVICE: ‘YOU ALWAYS HAVE TO BE HUNGRY’
When it comes to the future of real estate in the Philippines, Eddie Santos remains bullish about the market and focused on fundamentals, on the end-user. The reason for his optimism is the Philippines’ large population, which is now coming of age, ready to buy their first home.

“We’re blessed with 110 million Filipinos,” Eddie says, and then compares the Philippines to thriving real estate markets such as Hong Kong. “And then you look at Hong Kong. As far as I can see, it’s like skyscrapers, and they’re only 20 million.”

To these end-buyers of real estate, he advises to continue buying real estate, citing how real estate can be money-earning assets even in hard times.

“Not even the very best broker can tell you if the market will go up or the market will go down. If you could afford it and the price point is attractive to you, buy it. Especially for people whose age is between 40 to 50. [Real estate values] may go down, but in your lifetime, you will see it go up again. I strongly urge you to buy four or five properties and then rent the others, live in one. So at least in your growing age, you don’t have to burden your children.”

To other brokers in the real estate industry, Eddie advises constant learning. “You always have to be hungry,” he says. “You always have to educate yourself because right now it’s an ever-changing landscape for the real estate industry. Even though I’ve been 25 years in the industry already, I still think there’s still a lot to be learned.”

RJ Ledesma (www.rjledesma.com) is a Hall of Fame Awardee for Best Male Host at the Aliw Awards, a multi-awarded serial entrepreneur, motivational speaker, and business mentor, podcaster, an Honorary Consul, and editor-in-chief of The Business Manual. Mr. Ledesma can be found on LinkedIn, Facebook and Instagram. The RJ Ledesma Podcast is available on Facebook, Spotify, Google and Apple Podcasts.

ledesma.rj@gmail.com

Dining In/Out (03/13/25)

March 13, 2025 | 12:04 am

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Women’s Month at Newport

ON MARCH 19, the Whisky Library toasts to women’s fearless spirit with the Taste of Éire masterclass led by Aiobhe Murtagh, the Irish Distillers’ Brand Ambassador for the Philippines. Discover a selection of Jameson Black Barrel, Redbreast 12-Year-Old, and more. Women who attend the masterclass will receive an exclusive 10% discount. The Whisky Library keeps the celebration going with Ladies’ Night for an evening of free-flowing signature cocktails and custom Gin & Tonics with premium botanicals. The Ladies’ Night is available for P1,200 net, starting at 9 p.m., throughout the month. At Casa Buenas, all señoras and señoritas will enjoy a treat with every sip. Order the Tu Hermosa cocktail and receive a free Mango Meringue for P310 net. They can also unwind at the Garden Wing Café with the Coco Lemonade, served complimentary with a minimum food and beverage purchase of P1,500 net. For the perfect girls’ night out, El Calle Food and Music Hall serves up a “Buy 1, Get 1 Free” cocktail and a “Buy 5, Take 1” Smirnoff Mule promo to keep the night sparkling. “A Toast to Her” is being held at Hotel Okura Manila. In honor of women, every guest will be welcomed with a complimentary Cocktail of the Month — a prelude to an elegant Afternoon Tea at Yawaragi or Happy Hour at the Sora Rooftop Bar. Gather with fellow women in groups of two to six and raise a glass to the moments that matter, available every Monday to Thursday until the end of the month. Terms and conditions apply. For more information on Newport World Resorts, visit www.newportworldresorts.com and follow @newportworldresorts on Facebook, Instagram, and TikTok.

Tea with Laura Mercier

IN CELEBRATION of International Women’s Month, the Hilton properties in the Philippines — Conrad Manila and Hilton Manila — have partnered with luxury beauty brand Laura Mercier, to launch an exclusive limited-time afternoon tea experience. Designed to honor and appreciate the contributions of women, this offering runs until March 31, featuring tea sets and an opportunity for guests to win premium beauty rewards. At Conrad Manila’s C Lounge, guests can enjoy an indulgent afternoon tea at P3,288++ for two from 2 to 6 p.m. daily. The set features bites like cucumber and cream cheese sandwich roll, and Serrano asparagus sandwich, grazing cones, savory tomato meringue caprese, and pork barbecue skewers. Freshly baked rose petal and plain scones complement a lineup of desserts inspired by Laura Mercier, such as the Chocolate Caviar Lip Liner, Translucent Flawless Pralines, and Real Flawless Weightless Raspberry with Caramel and Vanilla Sauce. Meanwhile, Hilton Manila’s Madison Lounge & Bar offers its signature afternoon tea daily from 2 to 5 p.m. at P2,500++ for two. Highlights include the Pan Bagnat and Garlic Spinach Mille Feuille, alongside desserts like Lychee Rose Shooter, Ispahan, Strawberry Shortcake, and the exclusive Laura Mercier Flavored Ganache Dip in Blueberry, Strawberry, and Mango paired with Grissini sticks. Guests can sip on the “I Am A Woman” cocktail, a blend of Beefeater Pink Gin, peach, lemon, strawberry, and soda water. Guests who purchase the International Women’s Month Afternoon Tea have a chance to win exclusive Laura Mercier prizes including Les Techniques gift vouchers worth P5,000 or a Laura Mercier Travel Size Deluxe Icon product. For more information and reservations, visit www.conradmanila.com, www.hiltonmanila.com, or e-mail MNLMB.FB@conradhotels.com, MNLPH_F&Binquiries@hilton.com.

Jollibee’s new Chicken Fillet meals

JOLLIBEE has launched the all-new Jollibee Chicken Fillet — an affordable meal starting at P69. It features chicken fillet slices paired with two sauce options: Pepper Cream and Tomato ‘n Cheese. The new Jollibee Chicken Fillet meal is available for dine in, take out, drive-through, and delivery via the Jollibee App, JollibeeDelivery.com, #87000, GrabFood, and Foodpanda.

Pickup Coffee launches anniversary collection

FEB. 25 marked Pickup Coffee’s third anniversary. To celebrate, they launched an anniversary collection including a limited-edition shirt produced by Secret Fresh that comes in black and white. Featured at the back of the shirt is an art piece designed by Winnie Yip Xin Wei depicting her original character BBG (“Bubble Butt Girl”), celebrating the anniversary at a Pickup cart. The limited-edition shirt is available in select branches through the App or at the Secret Fresh HQ at Ronac Art Center. Pickup Coffee also unveiled a special release — the Pickup Coffee X Winnieyippie Collectible BBG Toy. This collectible reimagines the “Bubble Butt Girl” as a Pickup barista sporting a cap and tee, with only 100 pieces available. This exclusive collectible can only be purchased through a raffle draw. To join the raffle: collect 10 stamps on the app to earn one raffle voucher for a chance to purchase the collectible BBG Toy — the more vouchers redeemed until March 14, the more chances of winning a chance to purchase. A hundred app users will be randomly chosen and winners will be announced on March 17 at 6 p.m. via @pickupcoffeeph socials. The brand also released another exclusive collaboration with Auro Chocolate, the Auro Pistachio Chocolate Milk (P99 on the app). This limited-time offer can be found within Pickup Coffee’s Pistachio Series, which includes the classic Pistachio Milk (P99).

Toby’s Estate Sydney rated World’s Best Coffee Shop

TOBY’S ESTATE has officially claimed the title of the world’s best coffee shop. Recently, the flagship café and roastery in Chippendale, Sydney, was crowned The World’s Best Coffee Shop at the inaugural The World’s 100 Best Coffee Shops Gala held at CoffeeFest Madrid, Spain. This global recognition celebrates coffee shops based on their excellence in quality, barista experience, customer service, innovation, sustainability, ambiance, and consistency. Jody Leslie, General Manager of Toby’s Estate, said, “At Toby’s Estate, coffee is at the core of everything we do. We’re beyond thrilled with this recognition as it reflects the dedication and hard work of our team. We’re passionate about delivering the best coffee experience to our customers.” In the Philippines, The Toby’s Estate franchise was brought in over 10 years ago by four entrepreneurs, including Marcel Crespo. Toby’s Estate Philippines now has 14 branches across Metro Manila, including locations in Ortigas, BGC, and Makati. The company also offers wholesale services for establishments looking to serve high-quality coffee, and plans to send local baristas to Australia for advanced training to maintain global standards. For more information on Toby’s Estate in the Philippines, visit https://tobysestateph.com/ or e-mail info@tobysestateph.com.

PLDT says cable work for Apricot project finished

March 13, 2025 | 12:04 am

PLDT INC. has completed the cable-laying phase of the Apricot cable system from Baler, Aurora, to Davao, a development expected to strengthen the country’s domestic network while positioning the Philippines as a transit hub for hyperscalers.

“International submarine cable systems are vital network infrastructure that are essential in supporting the exponential growth of data traffic brought about by the increasingly digital lifestyles of Filipinos,” PLDT Chief Operating Officer Menardo G. Jimenez, Jr. said in a media release on Wednesday.

Mr. Jimenez said the Apricot cable system is also expected to support the growing demand for connectivity by enhancing PLDT’s network between Luzon and Mindanao.

The 12,000-kilometer Apricot cable system will further expand PLDT’s international data capacity. It is a high-capacity fiber-optic submarine cable capable of handling more than 211 terabits per second (Tbps).

The Apricot cable system provides a direct link from Singapore to Japan and is expected to offer telecommunications companies alternative routes. PLDT said it is well-suited as an intra-Asia hub for over-the-top (OTT) service providers, which deliver digital services across networks.

This cable system will also increase PLDT’s international capacity by up to 33%, or more than 140 Tbps, the company said.

PLDT Senior Vice-President and Head of Enterprise Joseph Ian G. Gendrano said the company will continue investing in international submarine cables to position the Philippines as a strategic data hub in the Asia-Pacific region.

“Through initiatives like this, we continue to accelerate high-capacity data services, meeting the region’s growing demand for cloud, e-commerce, and content delivery,” Mr. Gendrano said.

This development is also expected to support advancements in technologies such as fifth-generation (5G) networks, the Internet of Things (IoT), and artificial intelligence (AI), he said.

At the local bourse on Wednesday, shares in PLDT fell by P64, or 4.58%, to close at P1,333 apiece.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., holds a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Ashley Erika O. Jose

Xiaomi eyes to boost market share through latest devices

March 13, 2025 | 12:04 am

CHINESE technology giant Xiaomi is looking to increase its market share in the Philippines through the launch of its latest artificial intelligence (AI)-powered mobile devices.

“The strength of Xiaomi is its vast ecosystem. I don’t think there’s a competitor in the Philippines who has better or has more AIoT (AI of things) or ecosystem products than us,” Xiaomi Philippines Head of Marketing Tomi Adrias told BusinessWorld on the sidelines of a launch event on March 6.

Mr. Adrias said the company wants to expand its overall market share in the Philippines this year.

Data from the International Data Corp. showed Xiaomi cornered 11% of the Philippine smartphone market in 2024, putting it at joint third place. This was up from 9.7% in 2023.

Xiaomi last week unveiled its latest flagship smartphone lineup, the Xiaomi 15 series.

The Xiaomi 15’s price starts at P45,999 for the 12GB memory and 256GB storage model, while the 12GB+512GB model is priced at P49,999. It is available in three color options: black, white, and green.

The smartphone is powered by the Snapdragon 8 Elite mobile platform that the brand said delivers improved performance with less battery consumption. It is also equipped with a cooling system.

It runs on the latest Xiaomi HyperOS 2, which features Xiaomi HyperCore, Xiaomi HyperConnect, and Xiaomi HyperAI.

“These innovations give users an enhanced mobile experience in functionality, system fluidity, cross-platform connectivity, security, privacy, and access to next-generation AI interactions and AI-driven productivity tools,” Xiaomi said.

The Xiaomi 15 sports a Leica-engineered Summilux optical lens for its 50-megapixel (MP) main camera, as well as a Leica 60mm floating telephoto camera with a 50MP sensor and a Leica 14mm ultra-wide lens with a 50MP resolution.

“The Xiaomi 15 boasts a versatile triple-camera system that delivers exceptional image quality. Spanning extended focal lengths from 14mm to 120mm, it provides remarkable clarity and versatility for every shot,” it said.

The phone has a 6.36-inch CrystalRes AMOLED screen and has an aluminum frame. It has a 5,240mAh battery that supports both wired and wireless fast charging via HyperCharge.

It is also has an IP68 water and dust resistance rating.

TABLETS, WEARABLES
Meanwhile, the company also released its latest Xiaomi Pad series, namely the Xiaomi Pad 7 and Xiaomi Pad 7 Pro, which also have AI capabilities for user productivity.

Pricing for the Xiaomi Pad 7 starts at P19,999, while the Xiaomi Pad 7 Pro’s base model costs P29,999.

The Xiaomi Pad 7 Pro is powered by the Snapdragon 8s Gen 3 mobile platform, while the Xiaomi Pad 7 has a Snapdragon 7+ Gen 3 processor.

Both devices have a 11.2-inch display with a 3:2 aspect ratio and a 144Hz refresh rate.

The brand also launched its latest wearables at last week’s event: the Xiaomi Buds 5 Pro, Xiaomi Watch S4, and the Xiaomi Smart Band 9 Pro.

Lastly, it unveiled the Xiaomi Electric Scooter 5 Max, which has a traction control system to ensure stability on wet roads. Pricing for the scooter starts at P33,099. — Beatriz Marie D. Cruz