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DBCC to review macroeconomic assumptions, growth targets

BUDGET SECRETARY AMENAH F. PANGANDAMAN — DBM

By Luisa Maria Jacinta C. Jocson, Reporter

THE DEVELOPMENT Budget Coordination Committee (DBCC) is set to review the government’s macroeconomic assumptions and growth targets at its meeting on Monday.

Budget Secretary Amenah F. Pangandaman said economic managers will see if there is a need to tweak the medium-term macroeconomic assumptions, growth targets and fiscal program, in light of recent developments.

“We’ll try to see if we are on track or if we adjust (the assumptions). First are targets, we’re trying to see if we can meet the targets in revenues and spending,” she said in a roundtable interview with BusinessWorld reporters and editors in Quezon City on Wednesday.

At its last meeting in December, the DBCC narrowed the gross domestic product (GDP) growth target for 2023 to 6-7%, from 6.5-8% previously, due to external headwinds and a global slowdown. It kept its 2024-2028 growth goal at 6.5-8%.

The DBCC also projected inflation to reach 2.5-4.5% this year.

This year, the Philippines’ macroeconomic indicators have been positive, Ms. Pangandaman said.

“So far, we are consistent, if you look at the numbers, we just have to wait for first-quarter gross domestic product (GDP) growth. But so far, our numbers are okay. Inflation is going down and the labor force participation rate is increasing,” she said.

The Philippine Statistics Authority (PSA) is set to release April inflation data on May 5 and first-quarter GDP data on May 11.

Inflation eased to 7.6% in March from 8.6% in February and a 14-year high of 8.7% in January. This brought the average first-quarter inflation to 8.3%, well above the central bank’s 6% full-year forecast.

Ms. Pangandaman said the government’s spending and revenue collections have been on track.

This year, the DBCC expects full-year disbursements to reach P5.117 trillion, while revenues will hit P3.71 trillion.

Budget Undersecretary Joselito R. Basilio said that if there are any revisions made by the DBCC, it would be for quarterly fiscal program or revenue targets.

“Definitely, the medium-term fiscal framework is consistent, there may be just quarterly changes in the fiscal program or revenue targets, but that’s still consistent,” he said at the same roundtable interview.

However, economists said the DBCC should consider revising its macroeconomic assumptions and targets.

Union Bank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion in a Viber message said that full-year economic growth projection should be revised downward to 5-6%, while the inflation assumption should be raised to 5-7%.

“There may be a need to revise lower the GDP growth estimates amid risk of recession in the US, which is the world’s largest economy as could be exacerbated by the US banking turmoil that would increase the odds of US recession,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

Mr. Ricafort noted that Philippine growth of at least 5.5-6% remains “possible for the coming years.”

The collapse of the Silicon Valley Bank and Signature Bank triggered a banking crisis in the US and rattled financial markets across the globe. This marked one of the biggest bank failures since the 2008 global financial crisis.

The International Monetary Fund expects US growth to slow to 1.6% this year and further to 1.1% in 2024, much lower than the 2.1% growth it registered in 2022.

PHL envoy prioritizes GSP renewal bid in US

United States dollar banknotes and American flag displayed on a laptop screen are seen in this multiple exposure illustration photo taken in Poland on Dec. 26, 2022. — JAKUB PORZYCKI/NURPHOTO VIA CONNECT

By Keisha B. Ta-asan, Reporter

THE PHILIPPINE EMBASSY in the United States is prioritizing the renewal of the country’s participation in the US Generalized System of Preferences (GSP) trading scheme, the ambassador said.

Philippine ambassador to the US Jose Manuel D. Romualdez told BusinessWorld the Philippines has a better chance of renewing the GSP as the current US Congress is cool to any kind of free trade agreement (FTA) at this time.

“I think that the US is open to that one (GSP renewal), and that requires obviously a Congressional act… That’s why this visit of our economic team, and of course, hopefully, a presidential visit will emphasize the importance of our economic ties with the United States. That would probably put a little more emphasis on the GSP,” Mr. Romualdez said in an interview at the Philippine embassy in Washington, D.C. last week.

“We’re working on the GSP as a priority, and the FTA will be a continuing effort on our part to see how we get one done.”

The Philippines has been pushing for the reauthorization of its GSP eligibility after it expired in 2020. The program allowed duty-free entry of more than 5,000 Philippine products into the US, including electronics and agricultural products.

Also, Mr. Romualdez said the Philippines will continue pushing for a bilateral FTA with the United States, even though he called it a “big challenge.”

“There are many American companies who actually wanted this, and they told President Marcos this when he met with them in New York last September,” he said.

“But the problem is, the FTA is going to be approved by the US Congress and there seems to be very little appetite for any kind of FTA at this time. Even the Executive branch of the US government is not very optimistic that it can be done. It may take some time.”

US Trade Representative (USTR) Katherine Tai on Tuesday told Manila-based journalists that the US government is currently not keen on negotiating FTAs with its trading partners including the Philippines. 

Trade Secretary Alfredo E. Pascual on Wednesday said this would not prevent the Philippines from continuing to pursue an FTA with the US.

“The important thing is we’re not closing the door to formalizing trade relations between the Philippines and the United States,” Mr. Pascual told reporters on the sidelines of a forum in Taguig City.

He noted Ms. Tai was just echoing the position previously made by US President Joseph R. Biden, Jr.   

“Ms. Tai cannot say otherwise because President (Biden) has already made the pronouncement that there would be no FTAs during his term. She is just voicing that, and we understand. We had a discussion on this and we understand where she is coming from. But it cannot prevent us from further pushing,” Mr. Pascual said. 

IPEF AS AN ALTERNATIVE
As an alternative to FTAs, the US is pushing for the Indo-Pacific Economic Framework for Prosperity (IPEF). But the US-led trade framework would focus on wider trade agreements with multiple countries.

“Clearly, what [the US] wants to do is to have a wider reach rather than just one [country]. But obviously the Philippines wants to have a special arrangement like what [we have in other countries],” Mr. Romualdez said.

Launched in May 2022, the IPEF pushes for resilience, sustainability, inclusiveness, economic growth, fairness, and competitiveness among the 14 participating nations. This includes the US, Australia, Brunei, Fiji, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, and Vietnam.

Mr. Pascual said the IPEF is not a trade agreement, but it will address some constraints.

“It is IPEF that we will use as a platform to work on this formal trade relations between the Philippines and the US because the US has initiated the IPEF to improve the trade environment,” he said.

OTHER TRADE DEALS
For Mr. Romualdez, the Philippine government should also pursue other FTAs with other countries.

“Personally, and this is what I told our economic team, I think that we should try to work more on developing an FTA with other countries that will have an opportunity for us to increase our exports to these areas, rather than really just look at the United States,” he said.

The Philippines and Japan entered into an FTA in 2008. The Philippines is also part of the China-led Regional Comprehensive Economic Partnership (RCEP).

Mr. Romualdez said the country has to balance its relationship with the US and China amid trade tensions between the world’s two largest economies.

“This is where the thin line that we have to work on because we want to have a bigger trading partnership with China, because they are a big market. At the same time, their products are also acceptable to us. So, this is really a very challenging situation for us,” Mr. Romualdez said.

He said the Philippines can expand its exports to the United States by ensuring its products are competitive.

“If we can have the right kind of products that Americans would love to have, like for instance, food items that are popular, it’s a big market (350 million),” the ambassador said. — with Revin Mikhael D. Ochave

SC issues Writ of Kalikasan vs Golden Rice, Bt eggplant

IRRI

THE SUPREME COURT (SC) has issued a Writ of Kalikasan against the Department of Agriculture (DA), ordering it to stop the commercial propagation of genetically modified rice and eggplant products.

In a statement on Wednesday, the High Court said it issued the Writ of Kalikasan in relation to the petition filed by the Magsasaka at Siyentipiko Para sa Pag-Unlad ng Agrikultura (MASIPAG) on Oct. 12, 2022.

During its en banc session on Tuesday, the High Court asked the secretaries of the departments of Agriculture, Environment, Health, as well as the heads of the Bureau of Plant Industry, Philippine Rice Institute, and the University of the Philippines-Los Baños to file a verified return within 10 days.

“We welcome this move by the Supreme Court in issuing the Writ of Kalikasan on Golden Rice and Bt eggplant and its recognition that these genetically modified crops pose grave danger to our environment and health,” MASIPAG national coordinator Alfie Pulumbarit said in a statement.

MASIPAG, a group of farmers and scientists, had sought a temporary environmental protection order (TEPO) against the DA to stop the commercial cultivation of Golden Rice and Bt eggplant until proof of safety and compliance with legal requirements is shown.

The group claimed the Golden Rice and Bt eggplant are genetically modified organisms (GMO) that pose risks to the environment and the health of consumers.

The petitioners claimed that Golden Rice is modified by inserting a gene from maize and a gene from bacteria extracted from soil. They also argued that Bt eggplant was harmful since it produces its own toxin to kill insects that usually consume and damage regular eggplants.

MASIPAG also sought the declaration of all biosafety permits for Golden Rice and Bt eggplant declared null and void. It also asked the DA to perform independent risk and impact assessments on the products, as well as seek prior and informed consent from farmers and indigenous peoples.

““We hope that the Supreme Court shall grant our prayer to issue the TEPO. It is most urgent that the propagation of Golden Rice and Bt eggplant shall be stopped as our local rice diversity and associated biodiversity are at stake with the threat of gene contamination coming from these genetically modified crops,” Mr. Pulumbarit said.

The High Court has not uploaded a full copy of the ruling on its website.

A Writ of Kalikasan is a legal remedy that protects citizens from environmental damage that threatens life, health, or property in two or more cities.

The Philippine-based International Rice Research Institute approved the commercial cultivation of Golden Rice in 2021, while Bt eggplant was given the green light on Oct. 18, 2022. — John Victor D. Ordoñez

‘No extension,’ says DICT on SIM registration

PEOPLE are seen using their mobile phones along Claro M. Recto Avenue in Divisoria, Manila, Dec. 27, 2022. — PHILIPPINE STAR/EDD GUMBAN

THE Department of Information and Communications Technology (DICT) has ruled out an extension of the registration of subscriber identity module (SIM), seven days before the deadline.

In a press release on Wednesday, DICT said that it had received a request from public telecommunication entities (PTEs) to extend the deadline, but said “at this point, there is no extension of SIM registration.”

“With the April 26 registration deadline drawing near, we encourage everyone to reqister to promote the responsible use of SIMs and provide law enforcement agencies the necessary tools to crack down on perpetrators who use SIMs for their crimes, consistent with the declared policy of the law,” it added.

The DICT also reminded the public of the repercussion of non-registration, which is the deactivation of the subscribers’ SIMs and eSIMs, barring them from using their PTEs’ calling, texting and digital wallet services.

“The DICT reiterates that the SIM Registration Act places primacy on the fundamental rights of Filipinos and is replete with safeguards to ensure the confidentiality and security of user data,” it said.

Republic Act No. 11934 or the SIM Registration Act requires all SIM users to register their SIMs under their name until April 26, or risk SIM deactivation. It aims to help mitigate the proliferation of text scams and other mobile phone-aided criminal activities.

Previously, the three PTEs — Smart Communications, Inc., Globe Telecom, Inc., and DITO Telecommunity Corp. – requested the extension of the SIM registration’s deadline for at least 120 days. The call came after they noticed that about half of the subscribers nationwide have not yet registered.

Data from the DICT showed that only 73.03 million or 43.2% of the 168.98 million subscribers nationwide have registered.

Of the total SIMs registered, 36.11 million are Smart subscribers, 31.59 million are from Globe, while DITO recorded 5.33 million. — Justine Irish D. Tabile

Usual office users seen to drive post-pandemic demand

ANDREY ANDREYEV-UNSPLASH

TRADITIONAL offices along with information technology and business process management (IT-BPM) firms will continue to drive post-pandemic office demand, a real estate consultant said, as it recorded more spaces taken up by these entities in the first quarter of the year.

“[Growth will still be driven] by the [IT-BPM] sectors and the traditional offices because earlier, the Asia Development Bank said that the Philippines will most likely grow by 6% this year and 6.2% next year,” said Leechiu Property Consultants (LPC) Chief Executive Officer David Leechiu in a press briefing on Wednesday.

“[This] will make us one of the fastest growing economies and that means consumption. Many companies are wanting to come here to tap into that market,” he added.

For the first quarter of 2023, total demand for office spaces more than doubled to 264,000 square meters (sq.m.) from 124,000 sq.m. seen in the same period last year.

Demand for office spaces mainly came from IT-BPM and traditional sectors.

According to LPC Director for Commercial Leasing Mikko Barranda, live demand during the quarter reached 497,000 sq.m. with Metro Manila, contributing the bulk at 73% of the total, with provincial areas at 27% accounting for the rest.

“Despite the havoc brought by the pandemic … we’ve seen heightened market activity across all sectors of the real estate, which tell us we are in the midst of a post-pandemic recovery.” Mr. Barranda said.

Office space demand in Metro Manila was mainly driven by traditional offices at 49% or 178,000 sq.m. The rest are accounted for by IT-BPM at 114,00 sq.m. and Philippine offshore gaming operators (POGOs) at 71,000 sq.m.

Meanwhile, the majority of demand in provincial areas was driven by IT-BPM at 96% or 130,000 and traditional offices occupied 4% or 5,000 sq.m.

The total vacancy during the first quarter totaled 2.6 million sq.m., 40% of which are fragmented spaces.

“We expect another 969,000 sq.m. to be completed by the end of 2023,” LPC said in its report.

According to data from LPC, the supply of office spaces will significantly start to decline from 2024 until 2026. It expects overall vacancy to decline to 207 sq.m. in 2026 from the 1.32 million sq.m. expected this year.

“Another 1 million [sq.m.] will enter the market this year, but we will see a deficit of buildings in 2024 to 2026, which tells us this is an opportunity for developers to capitalize,” Mr. Barranda added. — Adrian H. Halili

DigiPlus secures P3-B loan for capital spending

BW FILE PHOTO

DIGIPLUS Interactive Corp. has secured a P3-billion loan from Asia United Bank Corp. that the listed gaming company will mainly use as capital expenditure to expand its operations, it said on Wednesday.

“We aim to capitalize on this positive momentum by revolutionizing our users’ experience by investing in new technologies, introducing new and innovative products, and enhancing our quality of service,” DigiPlus President Andy Tsui said in a statement.

“This loan financing is a significant milestone as we look to ground our leading position in the retail gaming industry of the country,” Mr. Tsui added.

The company’s capital spending budget will be used mainly for the expansion of its newly launched digital platform, BingoPlus, and its onsite gaming operations.

“BingoPlus has become a community and entertainment hub and a source of revenue for government in funding social and educational programs,” the company said.

The platform saw significant growth with more than 1,700 jackpot winners since its inception

In a separate disclosure, the company reported a net income of P686.86 million, a reversal of the P894.62-million loss it incurred the prior year, driven by the resumption of on-site operations and the launch of the new platform.

“What we accomplished in 2022 is remarkable,” Mr. Tsui said in an earlier statement, adding that the company “re-aligned its new business strategy and returned to profitable operations. We believe that there is strong momentum in our future business growth and the outlook is positive.”

It reported that revenues more than tripled to P8.91 billion from P2.81 billion in 2021 driven by its retail games business, which contributed 91.7% or P8.16 billion of the total.

“The retail business is expected to keep its profitable operations as it gains the favor of the social gamers, bingo-loving Filipinos,” the company said.

DigiPlus is planning to expand site operations to different areas, acquire more machines, and expand its game offering.

“DigiPlus also completed a round of private placement value up to Php1.85 billion just in the first quarter of 2023 to support its operational plans and strategies,” it added.

DigiPlus shares closed 3.35% higher on Wednesday at P2.78 apiece. — Adrian H. Halili

Raslag board clears P1.2-B loan for solar plant

RASLAG Corp. said on Wednesday that its board had approved obtaining a P1.2-billion loan from the Bank of the Philippine Islands to fund the construction and development of a solar farm.

In a stock exchange disclosure, Raslag said the funding will be used for its 35.159-megawatt (MW) Raslag 4 solar plant in Talimundoc, Magalang, Pampanga.

The company’s board also gave the approval for the selection of F.D. Laxina Construction Services and Trading Corp. as the land developer for the solar project.

Raslag said its board had also given the green light in obtaining another loan from the Ayala-led bank amounting to P250 million to bridge the partial financing of the land and acquisition for Raslag-6 solar farm.

In a disclosure in January, Raslag said it was planning to acquire about 42 hectares of land in Gerona, Tarlac to serve as the site for Raslag-6.

Raslag, a renewable energy developer, has installed to date 23.19 megawatt-peak (MWp) of commercially operating plants. About 18.01 MW are under construction, apart from proposed projects with a capacity of around 95.2 MW.

At the local bourse on Wednesday, shares in the company closed 0.65% lower to end at P1.53 each. — Ashley Erika O. Jose

FILRT optimistic this year as occupancy improves

Filinvest REIT Corp. (FILRT) is expecting strong growth this year as building occupancy is starting to improve, the company’s top official said on Wednesday.

“We are happy to note that tenants are starting to come back and pushing forward with our expansion plans. We are hopeful that this is a sign of reversal from the challenge we faced last year,” Maricel Brion-Lirio, president and chief executive officer of FILRT, said during the company’s annual stockholders’ meeting.

Ms. Brion-Lirio was referring to the implementation of hybrid work setups in special economic zones.

In a statement, FILRT said the office leasing segment has experienced drastic changes due to the evolving global workplace environment where hybrid and remote work arrangements are becoming the trend.

“As of the first quarter this year, we have finalized leases and signed letters of intent totaling almost 10,300 square meters (sq.m.). This is more than double the leases that we signed for the entire year of 2022. The tenants that signed are a mix of multinational BPO (business process outsourcing) and traditional companies,” she added.

FILRT said that about 56% of the 10,300-sq.m. new leases are existing BPO clients that needed additional space for expansion, while 24% are existing traditional tenants that also added space to expand. About 20% are new traditional tenants.

FILRT, backed by Filinvest Land, Inc. (FLI), expects its portfolio to benefit from “intrinsic and organic growth” as building occupancy is improving.

“Our sponsor FLI is fully committed to grow FILRT’s portfolio with regular asset infusions. We are guided by a clear investment strategy in order to sustain the portfolio expansion and provide a stable and competitive return to investors,” Ms. Brion-Lirio said.

At the local bourse on Wednesday, shares in the company declined by four centavos or 0.75% to end at P5.26 apiece. — Ashley Erika O. Jose

Of fashion and wine

When the lives of a designer and F&B guy intertwine, the result is a marriage and a stylish wine bar

FASHION and wine intertwine at H&T Wine Gallery, a Quezon City venture by fashion designer Happy Andrada-Gras and her husband, Tanguy Gras.

BusinessWorld saw Mr. Gras several times dressed in a tuxedo during his days as F&B Director at various properties in the city. Last March, we saw him in a creation by his wife: an apron made to look like a double-breasted suit and a bowtie in the shape of a mustache, matching the one he wears on his face.

The couple started the business during the pandemic as an online wine store but transitioned last February into a physical store-cum-wine bar at the first floor of Ms. Andrada-Gras’ studio in Quezon City (the studio has moved upstairs). The wines are displayed on shelves framed in gold, and every panel on the wall is a different color.

“We wanted something cocky, funny,” said Mr. Gras. “Happy’s the more creative one.”

“It’s wonderful to work together. Sometimes people think there might be some challenges to work with the person you’re living with and who you’re spending your life with, but for us, it was not,” he said.

While Ms. Andrada-Gras’ imprint can be seen on the walls and the decor, Mr. Gras is proud to present the wine selection. They have from 90 to 200 bottles on display at a time. “For the size of our bar, it’s a very extensive collection,” he said, reminding BusinessWorld during their visit that the wine bar seats about 18.

Aside from the wines, they have a selection of cheeses, deli meats, and tapas as well.

“If you have this big of a collection usually, it’s from restaurants that are owned by the suppliers of wines themselves.”

Mr. Gras taps from his sources from his days in the hospitality industry, so the wine selection varies wildly in price and origin. An entry-level wine goes for about P640, while some of the most expensive go up to P4,000. Wines-by-the-glass start at P290. He points out various varietals and appellations, and wines from Bordeaux are well-represented.

He gave us a tip, however: “If people go for a wine that is more on the budget… I would recommend to go for New World wines, especially the ones from South America. You will get a better deal with a wine from this region than the wine from Bordeaux at the same price.”

The worlds of wine and fashion usually intersect at good parties, but in few places. Mr. Gras discusses the points at which both their worlds meet. “Design is an art, and wine is also. The way the winemakers put so much effort, so much difficulty to create a wine. The weather, the soil quality, how old are the vines… that’s all hard work and art.”

H&T Wine Gallery is at 24 K-D corner K-1st Kamuning, Quezon City, and is open from 11 a.m to 7 p.m on Mondays to Thursdays and until 9:30 p.m. on Fridays and Saturdays. It is closed on Sundays. Contact them at 0917-175-2779 or contact@htwinegallery.com. Deliveries are available in Metro Manila. For more information, follow https://www.instagram.com/ht_winegallery/. — Joseph L. Garcia

Haus Talk launches 10-hectare housing complex in Laguna

HAUS TALK, Inc. has sold over 200 units in its newly launched 10-hectare affordable housing development in Biñan, Laguna, the company said on Wednesday.

“With the first phase of development completed, [Haus Talk] began marketing last February and has since sold over two hundred units of its 2-bedroom townhouse,” the company said in a statement.

Haus Talk’s economic housing complex The Granary has a starting price point of P2.5 milliown. PGAA Creative Design was tapped as the development’s master planner.

The company plans to offer amenities such as a clubhouse, a chapel, and sports facilities, while 40% of its land area will be for common use, which includes road networks and open spaces.

“Our team spent a long time on planning to ensure that we can provide a community that is affordable for families yet evokes a more premium quality in terms of design of the homes and the surroundings they will be in,” Haus Talk President Maria Rachel D. Madlambayan said.

Funding for the project was sourced from the proceeds of its initial public offering (IPO) in 2022 and internally generated funds. The location is part of its land banking initiatives as the company anticipated increasing demand for affordable residences.

The company, which listed on the small, medium, and emerging board, raised P750 million from the IPO.

“As of 2023, the country faces a housing deficit of some 6.5 [million] homes nationwide,” the company cited.

The development is situated at the center of Biñan, providing easy access to commercial and retail shops, public transportation, and other businesses.

“The location contributes to the interest of buyers as it is located about 10 minutes from the Mamplasan exit of the Southern Luzon Expressway,” Ms. Madlambayan said.

“[This] allows for our future residents to still be close to the central business districts while enjoying the fresh air and relaxed lifestyle of Laguna,” she said.

Haus Talk shares went up by 2.04% or 0.02 centavos to close at P1.00 apiece on Wednesday. — Adrian H. Halili

Sony Philippines to launch latest wireless earphones

SONY Philippines is set to release this week its latest noise-cancelling wireless earbuds, the WF-C700N.

The WF-C700N, priced at P6,999, will be available at Sony Authorized Dealers nationwide starting April 21 in three colors: black, white, lavender and sage green.

“The WF-C700N are small and lightweight for all-day comfort, perfect for those looking for their first pair of truly wireless noise-cancelling earbuds,” Sony Philippines said in a statement on Friday.

The company said the earbuds are designed to ensure comfort and stability for varied ear shapes.

“Sony has designed the WF-C700N by utilizing extensive ear shape data collated since it introduced the world’s first in-ear headphones in 1982, as well as evaluation of the sensitivity of various types of ears. The WF-C700N earbuds combine a shape to perfectly match the human ear with an ergonomic surface design for a more stable fit, so you can listen for longer without needing a break,” it said.

The hybrid silicone rubber earphones come in a cylindrical charging case.

The WF-C700N features noise cancelling to turn off your surroundings using its Noise Sensor Technology. It also has an Ambient Sound mode to let you stay connected to the world outside.

“In Ambient Sound Mode, the feedforward mics capture more of the ambient sound around you, so you can enjoy a natural listening experience while staying connected to your environment. You can personalize the settings within the Sony | Headphones Connect app or use the Focus on Voice setting to chat without removing your earbuds,” Sony Philippines said.

The earbuds also have an Adaptive Sound Control feature that adjusts ambient sound settings depending on where you are.

“It recognizes locations that you frequently visit, such as your workplace, the gym or a favorite cafe, and switches the sound modes that suit the situation. With this, you can seamlessly move through your surroundings all while letting your favorite artists and entertainment play on,” the company said.

“The WF-C700N delivers high-quality sound with its Digital Sound Enhancement Engine. Plus, with the help of Sony’s original 5-mm driver unit, the WF-C700N packs a punch, producing powerful bass and stunningly clear vocals despite their small size, bringing out the best in whatever genre or entertainment you choose. You can also change your music to fit your taste with the EQ settings on the Sony | Headphones Connect app,” it added.

The WF-C700N has a Multipoint connection feature that allows the earphones to be paired with two Bluetooth devices at the same time.

“So, when a call comes in, your earbuds know which device is ringing and connects to the right one automatically. The WF-C700N also provides reliable call quality thanks to the Wind Noise Reduction Structure which delivers your voice clearly, even on a windy day,” Sony Philippines said.

The earbuds have a battery life of up to 15 hours, the company said. They also have an IPX4 water resistance rating.

WH-1000XM5 IN MIDNIGHT BLUE
Meanwhile, Sony Philippines will launch on May 12 the Midnight Blue version of its WH-1000XM5 noise-cancelling headphones, which is priced at P20,999.

“Since the launch of the WH-1000XM5 in 2022, the wireless headphones have received numerous awards and critical acclaim for their industry-leading noise cancellation and superior sound quality,” it said.

Both the WF-C700N and the WH-1000XM5 Midnight Blue were designed with sustainability in mind, the company said, as zero plastic is included in their packaging material, “reflecting Sony’s commitment to reducing the environmental impacts of their products and practices.” — Bettina V. Roc

JG Summit Holdings, Inc. to hold annual stockholders’ meeting on May 15

 

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