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Villar Group gears up for AllValue Shopping Party on Dec. 3; around P 1-million promos and discounts up for grabs

Following the success of the Villar Group Convention (ViCon) for its housing brands, the Villar Group is now gearing up for a shopping expo this coming week.

Up to P 1-million worth of exclusive promotions and discounts from AllHome and AllDay as well as other brands from the Villar Group will be up for grabs during the third ViCon: Retail Innovation Shopping Expo (RISE) this December 3. Interested shoppers need only register and attend to claim vouchers and discounts that can be used in AllHome’s www.allhome.com.ph and AllDay Supermarket’s www.allday.com.ph, and any of the e-commerce platforms of the AllValue group.

ViCon: RISE will also showcase how the retail industry under the Villar Group has risen to the challenge caused by the COVID-19 pandemic.   “This will be another exciting ViCon, this time showcasing our retail group,” says Villar Group Chairman Manny Villar.

Villar believes that the company’s retail team has become innovative in elevating the shopping experience in the country to a world-class standard by launching the AllValue Shopping Party.

The AllValue Shopping Party is a whole day affair that will feature up to P 1 million worth of exclusive promotions and discounts available only at this ViCon: RISE event.

Attendees can also expect appearances from celebrities, thought leaders and influencers across all interests. Exciting prizes from AllHome, AllDay and the other AllValue brands: an AllHome home makeover, AllDay’s unique grocery hakot and a special AllToys Toy Raid will be up for grabs.

On December 3, the ViCon’s virtual halls will also be filled with interactive booths from AllValue brands and Vistamall, where attendees can go on a shopping spree during the day.

AllValue brands across the board will each have their day-long activities featuring their respective innovative experiences, both in-store and online. Industry specific influencers are also expected to grace the event.

The brands under Villar Group’s AllValue, its holding company for investments in retail, and its mall affiliate Vista Mall, will be featured in the daylong activities.

They include the country’s pioneering one-stop full line home center AllHome, mid-premium segment leader AllDay Supermarket, the country’s fastest growing café chain Coffee Project, and a host of its other food, retail and services brands.

During the third ViCon, the Villar Group is also bringing back its interactive virtual space and convention center to hold the AllValue Shopping Party, a showcase of innovation and shopping treats.

Register for free at https://thevicon.ph/registration/.

 

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[B-SIDE Podcast] Designing today 

The Design Center of the Philippines (DCP), an agency under the Department of Trade and Industry that helps micro, small, and medium enterprises (MSMEs) through design, concluded its International Design Conference this September and its annual Design Week this November. 

In this B-Side episode, Maria Rita “Rhea” O. Matute, executive director of the DCP, talks to BusinessWorld reporter Brontë H. Lacsamana about design thinking and innovation as a crisis response and DCP’s design economy mapping initiative called Design Counts. 

“At the end of the day, what is the price that we’re paying for future generations?” said Ms. Matute. “I think that’s a conversation that governments of the world are [having] about investing and providing government funds to make these innovations reachable.”  

TAKEAWAYS 

The pandemic is a great disruptor.  

The confluence of global crises like the pandemic, climate change, and plastic pollution shifted the priorities of designers, who responded by 3D-printing face masks and face shields for emergency health workers using digital fabrication laboratories and building isolation units for overwhelmed hospitals. 

“Before, I guess people would have all these reasons why it can’t be done and the difficulties of it, but again the health emergency has made people bolder,” said Ms. Matute. “The urgency to providing solutions, it created this kind of a design sprint to a certain extent, to create new systems of logistics as well as creation of new products that were not being done before.” 

The future depends on what you do today.  

The theme of the International Design Conference in September was “The Future Is Now,” inspired by a quote attributed to Mahatma Gandhi — the future depends on what you do today. 

“What we wanted [designers] to really take into account is, our future is made by the actions that are done today 

She also quoted speakers from the conference, design research firm Curiosity founders Pamela G. Cajilig and Diego S. Maranan, who said design thinking should be driven by Filipino values like kapwa (fellow man), diskarte (strategy), and malasakit (concern).   

With these, the Philippine design economy could move forward in its own way, but only if creative thinkers and designers would act now, she added.  

Anything new is always expensive in the beginning.  

Ms. Matute talked about the cost of innovation being unavoidable, suggesting that it should be addressed by the government which has the power to “de-risk.”  

In other countries, it’s already being done: “It’s government that invests [in] these innovations that contribute to social good … It brings the price down. They create certain rebates or policies so that the companies that invest in these innovations can commercialize it at a more competitive rate.”  

This doesn’t just apply to traditional examples of design like fashion, furniture, and graphic design, but also to more evolved products like systems, experiences, and user interfaces, she added.  

There are weak links in the design innovation ecosystem.  

Design Counts, a collaboration among DCP, the British Council, local research team Bayan Academy, and global research firm Nordicity, was able to map out the design innovation landscape in the Philippines through nationwide research and workshops.  

While the full results will be released in December, Ms. Matute teased some of the findings — that education must be strengthened by teaching design thinking at the primary level and that gaps in collaboration must be bridged among components of the ecosystem.  

“It’s understanding what the whole design innovation ecosystem is like and where are the weak links that slow down the interaction between players,” she said. 

The results will inform recommendations for the National Design Policy for 2022–2027, with the goal to maximize design as a sector in the economy and as a driver of innovation in other sectors.  

  

Recorded remotely this September. Produced by Brontë H. Lacsamana, Paolo L. Lopez, and Sam L. Marcelo.

Hybrid work: What this means for SMBs

For many of us in 2020, the year of the pandemic has begotten new work practices as we adjusted to remote work. From how we’ve collaborated to how we’ve conducted meetings, COVID-19 has made us learn to adapt. And adapt we have. The pandemic has shown that it’s possible to get work done outside the office, five days a week, thanks to technology. And it has shifted the global mindset about how and where work gets done.

In many studies on work arrangements over the past year, the flexibility of working from home has consistently ranked highly among those surveyed. As companies navigate the future of the workplace, hybrid work – a blend of on-site and remote work – is expected to replace remote work as the new status quo.

Going hybrid: A global shift 

Yet, the shift to hybrid has been happening even before the pandemic, with three in five businesses already operating on a partially remote work arrangement. Globally, major organizations such as Twitter, Reddit, DropBox, Viacom, Facebook, Shopify, and PayPal are already introducing some form of flexible work arrangement. And small medium businesses are doing the same.

Adopting a hybrid work model is more than a logistics shuffle. It’s closely intertwined with an agile working strategy, which involves a mindset shift to pave the way for how we’ll work in the future. In this respect, being small and nimble enables SMBs to swivel the company in this new direction. Plus, smaller teams make it easier for leaders to communicate new work policies, ensure seamless workflows, and keep teams connected and tight-knit.

Provide a remote-friendly digital infrastructure 

If your teams are going to spend work hours outside the office, they’ll need hardware and software that’s remote-friendly so they can work efficiently from anywhere. Powerful laptops that are thin and light are a must, as well as fast Wi-Fi connectivity and high-resolution displays (especially for those working from home). Companies should also consider providing hardware with features such as AI noise cancelling microphone, extensive connectivity, and ergonomically designed hardware.

Good IT management is just as crucial in the age of hybrid work. An increasingly dynamic and dispersed workforce increases digital footprint and the exposure to data breaches and phishing attacks. However, with a robust cyber security defense comprising biometrics security, anti-virus software and hardware protection, SMBs can protect their digital data and other company assets.

Rethink workplace policy and culture 

Going hybrid is a new way of working that calls for new work policies and new work traditions. 

Like all companies embracing hybrid work, SMBs need to put their employees’ well-being at the front and center. While hybrid work has its pluses, SMBs should be aware of the tendency of burn out and feeling disconnected, among other psychological factors.

With less face time, keeping people connected and building camaraderie are just as important. Use communication tools like Microsoft Teams, Google Meet, and Zoom for more than just business. Organize virtual townhalls, team lunches, and create online channels for fun, non-work discussions to keep company culture alive. The pandemic may have dealt a blow leaving many SMBs edgy, nervous, and uncertain of the future. But innovating now with the new way of work is how SMBs can pick themselves up, dust themselves off, and gear up for what’s ahead.

Recommended products for hybrid working

With an ultralight under a kilogram chassis, ASUS ExpertBook B9 B9400 is set for serious travel with an amazing 13-hour battery life and is engineered with many cutting-edge technologies to improve your on-the-go work efficiency. These include an 11th Gen Intel® Core™ processor, two-way AI noise-cancelation and dual-SSD RAID support, ASUS NumberPad 2.0. It’s also packed with features to protect your privacy and business data, including a built-in fingerprint sensor and TPM 2.0 chip

ASUS Chromebook C436 features a 360° flippable design and a precision-crafted magnesium-alloy chassis for ultimate flexibility. It features 10th Gen Intel® Core™ processor, a Harman Kardon-certified quad-speaker audio system, ultrafast Wi-Fi 6, and a fingerprint sensor for a password free login — all to empower employees with the tools needed to get the job done efficiently and effectively, from anywhere. 

ASUS ExpertCenter D700TC is powered by cutting-edge 11th Gen Intel® Core™ processor fast DDR4 memory making your business tasks light work. Featuring wide range of I/O ports to connect to a wide range of business peripherals are also included with ASUS ExpertCenter desktops. It also passes the US MIL-STD 810H military-grade toughness ensuring workplace accidents won’t jeopardize your precious data.

ASUS is dedicated to solving the unique challenges faced by everyone. To discuss how ASUS can help move your business forward when it comes to technology solutions, visit www.asus.com/ph/Business/ and ASUS For Business Facebook Page.

 

Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by enabling them to publish their stories directly on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.

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Gross borrowings hit P2.75 trillion

BW FILE PHOTO

GROSS BORROWINGS by the National Government had reached P2.75 trillion as of end-October as it continued to raise money for its pandemic response, preliminary data from the Bureau of the Treasury (BTr) showed.

Gross borrowings in the first 10 months declined by 6% from a year earlier.

Year to date, the government’s debt accounted for 91% of the P3-trillion borrowing plan for the entire year. In October alone, the Treasury borrowed P145.78 billion.

Accounting for the bulk of the total, gross domestic borrowings stood at P133.73 billion that month, 19.9% lower than P166.95 billion in September.

In the same month, Treasury bills (T-bills) resulted in net redemption worth P37 billion, while P89.89 billion of fixed-rate Treasury bonds (T-bonds) were sold.

The Treasury redeemed P52.7 billion in October.

For the first 10 months of the year, gross domestic borrowings stood at P2.29 trillion.

Meanwhile, gross external borrowings reached P12.049 billion in October, or about half of the P24.169 billion posted last year. It declined by 75% from P48.156 billion in September borrowings.

The October total consisted entirely of foreign project loans and there were no foreign program loans.   

Total gross borrowings from foreign creditors slid by 9.7% to P518.71 billion in the first 10 months from P574.44 billion a year earlier.

The BTr raised P146.17 billion from global bonds, P121.97 billion from euro-denominated notes, and P24.19 billion in Japanese yen-denominated securities. It also incurred P139.98 billion in program loans along with P86.41 billion in project loans.

The government has repaid P223.93 billion of its outstanding foreign debt so far, resulting in P294.78 in net foreign borrowings for the 10-month period.

The government borrows from local and foreign creditors to finance the budget deficit that has widened since last year after a coronavirus pandemic stalled the economy and pulled down tax collections.

This year’s budget deficit is expected to reach 9.3% of gross domestic product (GDP). — JPI

CPI base year to be changed to 2018 starting January

PHILIPPINE STAR/ MICHAEL VARCAS

By Luz Wendy T. Noble, Reporter

THE PHILIPPINE Statistics Authority (PSA) said the base year for the consumer price index (CPI) will change to 2018 starting in January, to reflect changing Filipino household consumption patterns such as the shift to e-commerce.

National Statistician Claire Dennis S. Mapa said the PSA board approved the CPI rebasing to 2018 from 2012 at its Nov. 9 meeting.

“The rebasing of the CPI is done periodically by the PSA to ensure that the CPI market basket continues to capture goods and services commonly purchased by households over time; to update expenditure patterns of households; and to synchronize its base year with 2018 base year of the gross domestic product and other indices produced by PSA,” Mr. Mapa said in a Viber message.

This move is also in line with a board resolution that directs the synchronized rebasing of the price indices to base year 2006 and every six years moving forward, he added.

The change to 2018 as the new base year of the index will begin with the January inflation, which will be reported on Feb. 4.

Despite some recalibration, the food index will still have the largest weight for the rebased index, Mr. Mapa said.

The PSA has adjusted its information-gathering process in assessing prices during the pandemic. With restrictions in place, Mr. Mapa said they used alternative methods such as e-mails and phone surveys.

He added that the agency had factored in the rise of e-commerce and how it has affected people’s consumption.

“Because of the changing platform of business transactions and the existence of new technology, web scraping is explored as an alternative price collection method for the commodities in the market basket of the CPI for the National Capital Region,” Mr. Mapa said.

At the BusinessWorld Virtual Economic Forum 2021 last week, Bangko Sentral ng Pilipinas (BSP) Senior Assistant Governor Iluminada T. Sicat cited the PSA’s move to review the base year of the consumer basket.

“The items that are included in that year [2018] does not reflect yet the changes in the consumption pattern that happened during the pandemic,” she said.

“So we’re carefully looking at the different items that are providing movements in the inflation and we are carefully monitoring the increases or decreases in those items in the basket,” she added.

Security Bank Corp. Chief Economist Robert Dan J. Roces welcomed PSA’s move in light of changes in Filipinos’ consumption patterns.

“This makes it more able to capture recent consumer behavior, including the newer channels of consumption — such as e-commerce — that may be reflective of the latest causes of price changes,” he said in a Viber message.

Bank of the Philippine Islands Lead Economist Emilio S. Neri, Jr. said rebasing the price index could bode well for inflation numbers.

In 2018, inflation reached multi-year highs, peaking at 6.7% in September and October. This was mainly caused by elevated rice prices.

The BSP in the same year raised interest rates by 175 basis points to soothe inflation.

“Rebasing CPI to 2018 will likely improve the 2021 optics since the share of transport, petroleum products and rice will likely be given more weight than meat,” he said.

“If a smaller weight is given to meat products, which has been the main contributor to 2021 headline inflation, the optics will likely improve. It will not, however, erase the fact that real policy rates have been kept negative for the longest recorded period in our economic history,” he added.

Headline inflation this year has exceeded the 2-4% BSP target every month except July. This was mainly driven by low pork supply amid the African Swine Fever outbreak and soaring global oil prices.

In October, inflation eased to 4.6% from 4.8% in September, bringing the year-to-date average to 4.5%.

The central bank expects inflation at 4.3% this year, with the November rate falling within target.

The BSP has vowed that it will focus on keeping its support for economic recovery, saying it expects inflation to settle back to its target in the next two years.

The Monetary Board earlier this month kept interest rates steady and will review its policy in its last meeting this year on Dec. 16.

Indian companies keen on investing in ecozones

A WORKER folds an Indian flag at a workshop in India, Aug. 11, 2005. — REUTERS

SOME INDIAN COMPANIES, including those from the pharmaceutical industry, are interested in investing in economic zones in the Philippines, according to an India Business Forum (IBF) official.

IBF President Dileep Tiwari on Sunday said some of the organization’s members have shown interest in investing in economic zones.

Mr. Tiwari on Sunday signed a memorandum of understanding (MoU)with Philippine Economic Zone Authority (PEZA) Director-General Charito B. Plaza, for IBF’s support in promoting the economic potential of the Philippines to Indian investors. For its part, PEZA will help IBF in maximizing its business opportunities in the country’s economic zones.

“This MoU will pave the way for a new relationship between PEZA and IBF. Some of my colleagues are already interested to open an office in PEZA economic zones. Also, some members who are non-information technology-business process outsourcing, like those coming from the pharmaceutical background are also considering,” Mr. Tiwari said.

“Another colleague mentioned that there is also a plan to come up with chemical plants in PEZA economic zones,” he added.

There are currently 29 Indian locator companies in the Philippines with a total investment of P10.315 billion as of September 2021, according to Ms. Plaza,

She added that Indian locator companies in the country had registered $181 million in exports and employed 21,950 people as of August.

Ms. Plaza said the top Indian companies in the Philippines include Hinduja Global Solutions Ltd., Infosys BPM Ltd. – Philippine Branch, IGT Technologies Philippines, Inc., Teleperformance Global Services Philippines, Inc., and Concentrix Services Philippines, Inc. —  Revin Mikhael D. Ochave

Hoteliers see signs of ‘revenge travel’

PHILIPPINE STAR/ MICHAEL VARCAS

By Keren Concepcion G. Valmonte, Reporter

HOSPITALITY GROUPS expect a rebound in tourism as coronavirus disease 2019 (COVID-19) vaccination rates continue to improve and travel curbs are further relaxed around the country.

However, new and more transmissible COVID-19 variants may threaten the tourism industry’s recovery.

Filinvest-led Chroma Hospitality, Inc. is seeing signs of “revenge travel” after an uptick in bookings for the rest of the year.

“We are expecting a rebound in travel because of the easing of restrictions and we already feel the increase in bookings as the vaccination rates continue to increase, especially for our resorts and leisure hotels,” Chroma Hospitality Country Manager James M. Montenegro said in a separate e-mail on Nov. 11. 

Discovery World Corp. likewise saw higher demand for its resorts, Discovery Shores Boracay and Club Paradise Palawan. Boracay has scrapped the RT-PCR test requirement for fully vaccinated tourists.

“We see the market demand increasing in both beach resort properties,” said Claire D. Bernabe, director of sales and marketing for both properties, in an e-mail on Nov. 4.

“We hope to [maximize occupancy rates] while adhering to the guidelines of the local government unit (LGU) and Department of Tourism. Our suites in Boracay are spacious, as well as on our private island in Coron, and our commitment to care program, Home Safe, ensure safety protocols,” she added.

Hoteliers are hoping to see a sustained recovery in travel and tourism once the country opens up to foreign tourists. The Philippines is allowing fully vaccinated tourists from low-risk countries to enter the country starting Dec. 1.

“We remain hopeful for the successful bounce-back of the tourism and hospitality industry, as we have seen in other countries,” Robinsons Hotels and Resorts said in an e-mail on Nov. 16.  “We hope to work together with our peers, hotel groups and government agencies to pragmatically prepare for the re-opening of travel and to be able to serve our guests’ needs and accommodation requirements.”

Hotels and resorts have adjusted their operations amid the pandemic in order to protect guests.

Robinsons Hotels and Resorts said that it is providing “tailor-fit accommodation packages” for balikbayans who need quarantine accommodations, corporate groups, and leisure guests.

Chroma Hospitality said its new offerings were a hit in the local market. These included hosting sports “bubble groups” at Quest Clark, offering work from the beach or work from home packages, and opening new dining outlets.   

“Everyone will have a big dependency on local domestic market for a start so competition is crucial and the best, unique and timely offers will prevail,” Mr. Montenegro said. “We have a lineup of promos focusing on the local market that invites everyone to explore and support Philippine local destinations first.”

Robinsons Hotels and Resorts said it has tapped digital technology solutions in its operations, introducing self-check-in kiosks and digital payments. The group also launched a food and beverage e-commerce initiative via its online store and food delivery platforms.

Many hotels and resorts are also offering discounted rates to attract guests.

“For guests who are not sure when they can travel for whatever reason, our ‘Break Free Buy Now, Travel Later’ vouchers provide such flexibility,” Discovery World’s Ms. Bernabe said.

However, hospitality firms still must comply with government guidelines on operational capacity.

“As much as Chroma Hospitality’s managed hotels want to maximize its occupancy, the hotels are restricted to do so because of the government’s capacity guidelines,” Mr. Montenegro said.

“This is also understandable for us as we do not want to take the risk of the resurgence of COVID-19,” he added.

The Philippines has seen a steep decline in new COVID-19 cases in recent days. However, the World Health Organization has classified the B.1.1.529 or Omicron coronavirus variant as a “variant of concern,” saying it might be more contagious than previous ones.

The Philippines has already suspended inbound flights from South Africa, Botswana, Namibia, Zimbabwe, Lesotho, Eswatini, and Mozambique as well as Hong Kong.

BusinessWorld reporter wins award

BUSINESSWORLD’s Luz Wendy T. Noble was recognized as the Best Reporter of the Year for Banking at the 30th annual awards of the Economic Journalists Association of the Philippines (EJAP). A graduate of the University of the Philippines, Ms. Noble joined BusinessWorld in 2019 and has been covering the banking beat for more than two years. The award was given for her coverage of the sector in 2020.

The 30th EJAP Business Journalism Awards’ board of judges was chaired by former Finance Undersecretary Milwida M. Guevara. EJAP, the umbrella organization of business journalists in the country, gave the awards in partnership with the Ayala Group.

SEC flags eight more investment schemes

THE Securities and Exchange Commission (SEC) has flagged eight more entities in separate advisories for their unregistered investment solicitation programs.

These offerings are PH Lazada International Trade Co. Ltd., Suhail Medical Center, Inc., Zigma Trade, Victorich Trades Co., S AMZ Shop, Phillq International Trade Co., AxieCrowd Asia, and Double M FX Financial Consultancy Services.

The SEC said those involved in the unregistered investment schemes may be prosecuted or held criminally liable under the Securities Regulation Code and may face monetary fines worth as much as P5 million and/or 21 years behind bars.

PH Lazada International Trade also goes by the name PH Lazada or PH Lazada VIP. The SEC said the entity is luring the public to invest in its program via social media sites or through its own websites.

PH Lazada International Trade said it is “a self-service order placement platform for all international e-commerce companies,” servicing platforms such as Shopee, Lazada, Amazon, and eBay.

However, Lazada E-Services Philippines, Inc. told the SEC through a letter dated Nov. 15 that it is not connected nor associated with PH Lazada International Trade and PHILAZ International Trade Co. Ltd.

“Lazada has never authorized nor contracted PH Lazada and PHILAZ for the solicitation, acceptance, or taking of investments or placements from the public or for the issuance of investment contracts and other forms of securities,” the SEC said in an advisory dated Nov. 16.

“Lazada has also never authorized PH Lazada and PHILAZ to use Lazada’s name or image in any transaction,” it added.

PH Lazada, along with entities S AMZ Shop, Phillq International Trade or PHILLQ, and AxieCrowd Asia, is said to offer programs that are similar to a Ponzi scheme, where the investments of new clients are used to pay off the “fake profits” of old investors.

None of these entities are registered with the commission and none of them have the required license to offer investments to the public.

“The offering and selling of securities in the form of investment contracts using the ‘Ponzi scheme,’ which is fraudulent and unsustainable, is not a registrable security,” the SEC said in its advisories against PH Lazada, S AMZ Shop, and Phillq International Trade.

“The commission will not issue a license to sell securities to the public to persons or entities that are engaged in this business or scheme,” it added.

Meanwhile, the SEC said Suhail Medical Center is headed by a certain Jesser T. Cordova. The public is being lured into investing in the entity to be a co-owner of the hospital, which is located at Barangay Punta, Batino Exit in Calamba, Laguna. The entity promises would-be investors a “lifetime” of revenues based on its quarterly performance.

The medical center also promises investors free laboratories and checkups for the co-owners and their relatives.

Suhail Medical Center is not registered with the commission and it also does not have the license to solicit investments from the public.

In a certification dated Oct. 30, the Department of Health – Health Facilities and Services Regulatory Bureau also said there is no existing licensed health facility under Suhail Medical Center in Calamba, Laguna.

“Even a health facility with that name applying for any authorization (license to operate, certificate of accreditation, certificate of registration, or authority to operate a health facility) does not exist,” the SEC said.

Zigma Trade, Victorich Trades, and Double M FX Financial Consultancy Services are also not registered with the commission and none have the license to collect investments from the public.

Zigma Trade is said to be offering a program that promises investors a 50% return of their minimum investment every five days within 30 days. Its minimum investment per slot is priced at P500, however, it did not set a maximum limit. The entity also offers a direct referral bonus of 3%.

“A member shall only need to invest, wait, and earn without having to do anything,” the SEC said.

Meanwhile, Victorich Trades also goes by Victorich and is headed by a certain Victorio Salvador or VRich Salvador.

“Victorich is enticing the public to be ‘co-producers’ of its program by purchasing a package for a minimum of P500, inclusive of [a] one-piece peppermint essential oil and [a] one-piece lavender essential oil with 30% profit in 30 days,” the regulator said.

Victorich is also not registered as a crowdfunding intermediary or a funding portal. The commission said all the names of those involved in the entity’s scheme will be reported to the Bureau of Internal Revenues so the appropriate penalties and/or taxes may be assessed.

Double M FX Financial Consultancy Services is led by a certain Melvin Marinez. The entity also goes by Double M Global Trading and is said to be offering an investment package for as low as P500 and promises a return of 300% within 15 days. Investors may also earn a 20% commission via a direct referral bonus, among others. — Keren Concepcion G. Valmonte

PHL AirAsia’s Teleport plans to serve more areas

NEWSROOM.AIRASIA.COM

By Arjay L. Balinbin, Senior Reporter

PHILIPPINES AirAsia, Inc. said its logistics venture Teleport is looking to roll out its delivery services in more areas in the country in 2022.

Teleport, a wholly owned venture of AirAsia, is advancing the group’s cargo and logistics ambitions.

“For cargo, we want to tap routes or provinces with regular cargo demand such as Roxas and Dumaguete in Visayas, as well as Butuan, Cotabato, Pagadian and Tawi-Tawi for Mindanao starting Q2 (second quarter of) 2022 onwards,” Philippines AirAsia Chief Executive Officer Ricardo P. Isla said in a statement to BusinessWorld on Nov. 25.

Teleport aims to meet the e-commerce demand that has been accelerated by the coronavirus pandemic.

“Part of the expansion plan is to maximize the all-cargo aircraft of Teleport from our regional hubs to service the growing cargo market in the Philippines sustained by the unprecedented growth of e-commerce,” Mr. Isla said.

Triggered by the pandemic, more people are buying goods and services online. The Philippine e-commerce sector is seen to contribute P1.2 trillion to the economy by 2022, representing 5.5% of the gross domestic product, according to the government’s e-commerce road map.

“We carried more volume this year because of the uptick in demand of our commercial flights, which resulted in more cargo capacity to fill in,” Mr. Isla said.

“We also started adding more clients in the third quarter, which contributed at least 3-5% of the overall tonnage carried versus the same period last year.”

He also expects that the easing of restrictions will bring back the demand for local business owners and other industries to and from Manila.

“Demand for business travelers will also increase which will result to additional flight frequencies and more cargo capacity to offer.”

Demand in 2022, the airline anticipates, will be driven primarily by flight frequency, seamless network, and competitive pricing.

T-bill rates may move sideways due to new variant, RTB offering

BW FILE PHOTO

RATES of Treasury bills (T-bills) could move sideways this week on concerns over the new coronavirus variant.

The Bureau of the Treasury (BTr) will offer P10 billion in T-bills this week, broken down into P2 billion in 91-day papers, P3 billion in 182-day instruments, and P5 billion in 364-day securities.

A bond trader in a Viber message said rates of T-bills will likely move sideways or downwards by around 5 basis points (bps).

“Despite decisions abroad seemingly headed towards increasing rates and tapering asset purchases, the new COVID variant has given cause for concern,” the bond trader said.

South Africa’s health minister had announced the detection of a new coronavirus disease 2019 (COVID-19) variant, which scientists said had a high number of mutations.

Meanwhile, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said yields could increase slightly in line with a pickup in secondary market rates.

“The recent RTB (retail Treasury bond) offering could have siphoned off some of the excess liquidity in the financial markets,” Mr. Ricafort said.

The Treasury raised an initial P113.545 billion from its offer of 5.5-year RTBs at the price-setting auction on Nov. 16.

This was oversubscribed by more than five times versus the initial P30-billion offer. The RTBs had fetched a coupon rate of 4.625%.

At the secondary market on Friday, the 91- 182- and 364-day T-bills were quoted at 1.2378%, 1.4571% and 1.6963%, respectively, based on the PHL Bloomberg Valuation Reference Rates published on the Philippine Dealing System’s website.

The BTr raised P15 billion as planned via the T-bills it auctioned off last week as total bids reached P33.76 billion, more than double the initial offer but slightly lower than the P37.99 billion in tenders seen a week earlier.

Broken down, the BTr raised the programmed P5 billion via the 91-day debt papers from P8.78 billion in bids. The three-month T-bills fetched an average rate of 1.178%, up by 2.8 bps from the 1.15% seen at the previous offering.

The BTr also borrowed P5 billion as planned from the 182-day securities it offered last week as bids reached P10.86 billion. The average rate of the six-month T-bills went up by 3 bps to 1.443% from 1.413% a week earlier.

Lastly, the government made a full P5-billion award of the 364-day T-bills as the tenor attracted tenders worth P14.12 billion. The average yield on the one-year instruments stood at 1.628%, inching up by 0.7 bp from the 1.621% fetched during the previous auction.

The BTr plans to borrow P70 billion from the domestic market in December, or P30 billion via T-bills and P40 billion from Treasury bonds.

The government wants to raise P3 trillion from local and external sources this year to help fund a budget deficit seen to hit 9.3% of the country’s gross domestic product. — Jenina P. Ibañez

Dole to repurpose tons of fruit waste

By Revin Mikhael D. Ochave, Reporter

DOLE Sunshine Co. (DSC) plans to repurpose around 1 million tons of fruit waste generated by its plantations in the Philippines under a recently created corporate venture.

Wei Tze Ooi, Dole Specialty Ingredients (DSI) managing director, told BusinessWorld in an e-mail interview that the pilot plant for the repurposing venture is located in the town of Polomolok, South Cotabato, and is testing the fruit waste with several extraction and drying technologies.

“Around 1 million tons of fruit side streams (fruit waste) are generated each year at Dole’s plantations in the Philippines, which equates to approximately 50,000 40-foot containers. These fruit side streams will be used as feedstock for repurposing and upcycling at DSI,” Mr. Ooi said.

On Oct. 18, DSC and Singapore Economic Development Authority Board (EDB) New Ventures announced DSI as its new corporate venture, which is based in Singapore and has an initial co-investment of $10 million.

According to DSC, the venture was formed in efforts to reduce fruit losses by repurposing fruit parts and side streams into ingredients such as seed oils, fibers, and enzymes that can be used in the pharmaceutical, nutraceutical, cosmeceutical, food and beverages, and other industries.

Mr. Ooi disclosed that the corporate venture aims to fully utilize the 1 million tons of fruit waste in the Philippines by 2030 at the latest, while the initial phase of DSI’s product portfolio will be comprised of bromelain.

He also mentioned that the repurposing venture of DSI will provide employment to local farmers and communities.

“We also expect to engage with various local partners, including cooperatives and trucking companies, to set up a feedstock collection logistics network, which would also create many new jobs,” Mr. Ooi said.

“There are a lot of valuable nutrients locked in the fruit side streams that are usually discarded. For instance, the peel or seeds are actually more nutritious than the fruit’s pulp itself,” he added.

Meanwhile, Mr. Ooi said the repurposing business has a huge potential to become a key contributor to the future revenues of DSC.

He added that DSI’s target is to use the fruit side streams from Dole plantations across the world, which is estimated to be around 50,000 hectares in size, and includes countries such as the Philippines, Thailand, Sierra Leone, and Sri Lanka.

“DSI has just started so the scale of our operations is still relatively small. However, we see huge potential in this business unit and we aim to become one of the key contributors to DSC’s revenue in five years’ time,” Mr. Ooi said.

“We will work with business-to-business clients from around the world, including the United States, European Union, and Asia, in various industries to provide specialty ingredients that will go into their products. We will also be working with manufacturers, ingredient houses, distributors, etc. on the sales front,” he added.

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