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PSE approves Megawide’s P4-billion follow-on offering

BW FILE PHOTO

THE Philippine Stock Exchange (PSE) approved the P4-billion follow-on offering (FOO) of Megawide Construction Corp. on Friday, just hours after the company also received the go signal from the Securities and Exchange Commission.

“The exchange approved the application of [Megawide] for the listing of up to 40,000,000 preferred shares, subject of the [FOO] of the company, at an offer price of P100 per offer share,” the PSE said in a listing notice.

Megawide’s base offering consists of 30 million Series 4 preferred shares, with an overallotment option of 10 million Series 4 preferred shares. It may raise up to P4 billion in proceeds should the overallotment option be exercised.

The listed engineering and construction development firm plans to use the net proceeds from the offer to redeem its Series 1 preferred shares due on Dec. 3.

Its offer period will run from Oct. 13 to 19, while its tentative listing date is set on Oct. 29. The offer shares will be listed under the ticker symbol, “MWP4.”

“The exchange’s approval of the listing of the MWP4 Shares is subject to the company’s compliance with all of the conditions and post-approval requirements of the exchange,” the PSE said.

Megawide engaged RCBC Capital Corp. as the sole issue manager, lead underwriter, and bookrunner for the offer, while PNB Capital and Investment Corp. was assigned co-lead underwriter.

On Friday, shares of Megawide at the stock exchange closed higher by 0.48% or three centavos to finish at P6.28 apiece. — Keren Concepcion G. Valmonte

Rates of T-bills, bonds may rise on concerns over high inflation

BUREAU OF THE TREASURY FACEBOOK PAGE

RATES of government securities may inch up this week on inflation concerns and hawkish signals from the US Federal Reserve.

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

On Tuesday, it will offer P35 billion in reissued five-year Treasury bonds (T-bonds) with a remaining life of four years and five months.

Two bond traders said T-bill rates will likely continue to move sideways, with the first trader adding that there could be a slight upward bias from the previous auction.

“Demand may continue to be evident across the three tenors with investors still looking to park their excess liquidity at the immediate part of the curve,” the first trader said in a Viber message.

For the longer-tenored T-bonds, the first trader said the average rate of the five-year notes on offer on Tuesday could range from 3.25% to 3.35%, while the second trader gave a higher estimate band of 3.35% to 3.55%.

Both traders said dealers are awaiting more signals from the US Federal Reserve on the timing of its plan to taper its monthly asset purchases.

The Fed has said it could start reducing its monthly bond purchases as soon as November and signaled interest rate increases may follow more quickly than expected.

At home, the traders said the market remains concerned over elevated inflation.

“Some…inflationary pressures such as the rise in global oil prices and Meralco’s (Manila Electric Co.) power rate hike announcement this month have kept the market off the edge, with local bond yields adjusting higher,” the first trader said.

Headline inflation stood at 4.8% in September, slowing from the 4.9% logged in August but faster than the 2.3% print recorded in the same month last year, the Philippine Statistics Authority reported last week.

September’s inflation print hit the lower end of the Bangko Sentral ng Pilipinas’ 4.8%-5.6% forecast range that month.

Average inflation for the first nine months reached 4.5%, above the central bank’s 2-4% target and 4.4% forecast this year.

Meanwhile, Reuters reported on Friday that oil prices rose as industries switch to oil from high price gas and on doubts that the US government would release oil from its strategic reserves. US West Texas Intermediate crude futures went up 1.1% to $79.14 a barrel, while Brent crude futures climbed 1% to $82.75 a barrel.

The BTr made a full award of the T-bills it offered last week even as rates climbed across the board due to lingering inflation fears.

Broken down, the government raised P5 billion as planned via the 91-day debt papers from P13.01 billion in bids. The three-month T-bills fetched an average rate of 1.085%, up by 2.5 basis points (bps) from the 1.06% seen the week before.

It also borrowed the programmed P5 billion via the 182-day T-bills as the tenor attracted bids worth P22.42 billion. The six-month paper’s average yield rose by 0.6 bp to 1.391% from 1.385% a week earlier.

Lastly, the Treasury made a full P5-billion award of the 364-day debt papers from P20.93 billion in tenders. The one-year securities fetched an average rate of 1.584%, climbing by 0.2 bp from the 1.582% quoted at the previous week’s offering.

Meanwhile, the last time the BTr auctioned off the reissued five-year T-bonds on offer on Tuesday was on Sept. 1, when it made a full P35-billion award of the papers from P76.167 billion in tenders.

The debt papers fetched an average rate of 2.746% at that auction, dropping by 54.9 basis points from the 3.295% logged in the previous offering. This was also lower than the 3.375% coupon for the series.

The BTr is looking to raise P200 billion from the local market this month: P60 billion from weekly offers of T-bills and P140 billion from weekly auctions of T-bonds.

The government wants to borrow P3 trillion from domestic and external sources this year to help fund a budget deficit seen to hit 9.3% of gross domestic product. — Jenina P. Ibañez with Reuters

Going beyond 10.10

YOU might think the 10.10 sales are over, but Lazada’s own 10.10 sale is stretching to the 14th of October (or 10.14, as the kids might say it).

Lazada’s 10.10 sale is set around big brands, with participating brands including Lego, Unilever, Huawei, Nike, Procter and Gamble, and SC Johnson, among many others. Lazada is also unveiling two new features: 10% cashback, and premium offers from LazMall Prestige Flagship Stores like Jo Malone, NARS, Lanvin, Narciso Rodriguez (among others). Lazada is also reinforcing its “100% Legit or get 2x money back guarantee,” free shipping vouchers, 30-day returns, Lazada Bonus Discount Vouchers at P50 off for every P500 spend, and up to 90% off on authentic brands.

Among the item categories that have sold more during this second year of the pandemic, said Lazada Chief Marketing Officer Neil Trinidad during a Zoom press conference last week, were essentials, hobbies, baking supplies, gym clothes and equipment, gardening supplies, women’s clothing and loungewear, and lighting and decor.

He also said that they’ve seen twice as many orders as from before the pandemic. “We’re seeing sustained growth month on month,” he said. So they are ”continually expanding” their assortment of brands, along with an expansion of their network beyond the Greater Manila Area, onboarding sellers and communities in the Visayas and Mindanao.

During the Zoom event, they introduced their new brand ambassador, actress Bea Alonzo, who appears in a commercial for Lazada with Korean star and regional brand ambassador Hyun Bin. Ms. Alonzo said that her Lazada shopping cart has a wide range of products: from camera accessories to kitchenware. ”Wala yata akong favorites (I don’t think I have favorites). I shop them all,” she said during the press conference. The first thing she had ever bought off Lazada, she said, was a tent which she used to change outfits in during shoots. “It came on time!”

Speaking about their future plans, Mr. Trinidad said, ”Surprising our fans is something that we always look forward to. All I can say is that after 10.10, we still have 11.11 and 12.12 to go.”

For more information about Lazada’s 10.10 – 10.14 deals, visit lzd.co/LazMallBigBrandsSale. — J.L. Garcia

Filinvest REIT obtains safety seal for most buildings

THE real estate investment trust (REIT) of Filinvest Land, Inc. has obtained the Department of Labor and Employment (DOLE) safety seal certificate for most of the buildings included in its initial portfolio.

Filinvest REIT Corp. (FILRT) is confident that the demand for its office spaces will improve as coronavirus disease 2019 (COVID-19) cases continue to decline while the country goes on with its vaccination program.

“Multinational firms will not risk disrupting their business operations by shifting to an entirely [work-from-home] setup, so we are confident that demand for office space will continue to grow,” FILRT President and Chief Executive Officer Maricel Brion-Lirio said in an e-mailed statement on Sunday.

FILRT said it expects more information technology and business process outsourcing firms to operate onsite or in their office spaces.

“Majority of the multinational locators said prolonged lack of face-to-face interaction, social isolation, and reduced camaraderie among employees pose a threat to mental health,” Ms. Brion-Lirio said.

FILRT has 16 office buildings in Northgate Cyberzone in Filinvest City in Alabang, which are said to be equipped with 100% backup power, security, and the fiber optic cable system.

The company said, “nearly all FILRT buildings” have obtained the DoLE safety seal certificate, meaning the establishment was deemed compliant with the minimum public health standards following an inspection from the government on top of having the required business permits. Its buildings also use the StaySafe.ph app as its contact tracing log.

On Friday, shares of FILRT at the stock market went up by 0.69% or five centavos to close at P7.30 apiece. — Keren Concepcion G. Valmonte

It’s time for T

PHOTO FROM MG PHILIPPINES

MG PHL presents the turbocharged ZS crossover

IT’S BUT APROPOS for MG Philippines to provide more choices for the model that catapulted it into the imagination and consideration set of many on the hunt for an affordable, value-for-money vehicle. The China-headquartered brand with a decidedly British heritage made a splash via the ZS which “to this day… remains a perennial crowd favorite (and is) currently at the top of the five-seater SUV-B segment in the Philippines,” according to a company release.

“When we launched the MG brand in 2018, our goal was clear: To be part of the exciting and growing Philippine automotive market, and to provide Filipinos with stylish, modern, and safe vehicles — but at very attainable price points,” said MG Philippines President and CEO Atty. Alberto B. Arcilla. “The local market’s reception has been very encouraging, indeed. In just three years, more Filipinos have chosen MG, and there are now over 10,000 MGs on our roads, with (many) of those being the ever-popular ZS crossover SUV.”

And so, MG Philippines wisely revisits its popular crossover nameplate and gives it a veritable shot in the arm through an additional (and more exciting) trim. The MG ZS T (for Trophy) comes with a new, three-cylinder 1.3-liter engine. Now before you go ballistic with the mention of three cylinders and an almost paltry-sounding 1.3, bear in mind that this power plant is turbocharged. Yes, “T” might as well stand for “turbocharged” as well — allowing the ZS to neigh with the power of 160 horses and 230Nm of torque. This power plant is mated with a new six-speed automatic transmission with manual sport mode.

Even as it takes its place at the very top of the ZS totem pole (above the Core MT, Style AT, and Alpha AT) in terms of power and accoutrements, the ZS T is priced at a still-reasonable P1,158,888. Now available at all 39 MG dealers, the variant also assumes the “updated global design language.”

On the outside, the ZS T receives the new, good-looking Obsidian Matrix Grille, flanked by full-LED projector headlamps. Lending a premium look are daytime running lamps, and 17-inch two-tone Tomahawk design alloy wheels upon which wide, low-profile tires are affixed.

Red brake calipers heighten the sporty appearance, as do gloss-black exterior door panel accents, a widened front air dam, and new body lines. “With these, among other features, the ZS T conveys a presence that is both striking and impressive; but still very approachable, and youthful in spirit,” the car maker said.

Perhaps most obvious among the updates within the cabin is the so-called Goggles Visual Instrument Cluster — a fully digital information center for the driver — that brings the ZS into the company of vehicles in more expensive price points.

The ZS T also boasts “carefully placed soft touch surfaces on the steering wheel, dashboard, center console, door panels, and other high-contact areas.” MG stitches red thread on the seats and other areas, and affixes embroidered MG monograms on the driver and front passenger headrests. Along with multiple storage compartments is a thoughtful dedicated USB port behind the rearview mirror for quicker and neater dashcam installation.

The T’s infotainment system is platformed on a 10.1-inch non-reflective high-definition touchscreen, featuring Apple CarPlay and Android Auto connectivity. Hooked up are six speakers. Rear occupants get their own A/C vents.

A slew of safety features include front, side, and curtain air bags; rear cross-traffic assist; lane change assist; cornering lamps (built into the fog lamps); hill hold control; cornering brake control; traction control; vehicle dynamic control; and more. A blind spot information system works with the ZS T’s 360-degree vehicle view.

The ZS T comes with a five-year/100,000-km (whichever comes first) warranty, and one-year free periodic maintenance service. The company adds, “MG owners can also download the My MG mobile app which allows them to easily schedule vehicle servicing appointments from the convenience of their smartphones. They can also use the app to book a visit from a Mobile Garage service caravan that provides MG owners with vehicle home service for major technical issues. MG HERO Services, on the other hand, provides 24/7 roadside support through the MG Philippines hotline (+632 5328-4664.)”

And, oh, word from The Covenant Car Company, Inc. (TCCCI) — the company that oversees both MG and Chevrolet here — has it that MG is not quite done yet. TCCCI Executive Vice-President and Director for Marketing and Customer Services Lyn Manalansang-Buena exclusively told “Velocity” that the company intends to roll out one more model before 2021 is done and dusted.

From cars to ‘ARMY bombs’: Chip crunch creeps into K-pop world

TWICE Candy Bong — PHOTO FROM KPOPLIGHTSTICK.JIMDOFREE.COM/

AS TOP K-pop bands get ready to go back on stage or live stream new shows after being sidelined by the pandemic, their fans discover the global chip crisis has also caught up with the world of catchy tunes, glitzy outfits, and elaborate dance routines.

Light sticks, a must-have accessory for hard-core enthusiasts of South Korean pop, have become pricier and harder to get due to the shortage that has hit production of anything from smartphones to cars.

The glowing wands fans wave during concerts and virtual events are fitted with so-called microcontrollers for power management and to pair with a phone to change colors, and highlight how far the squeeze has rippled through various industries and aspects of everyday life.

The price of light sticks, used by “ARMY” or fans of mega-band BTS and referred to as “ARMY bombs,” has increased by $2 to $59 from Oct. 1, Hybe entertainment-owned Weverse Shop said, blaming the “persistent global semiconductor shortage.”

“I sure hope prices won’t get too high since a lot of ARMY and other fans too cannot afford such prices,” said Pervushina Elizaveta, an entertainment company employee and a BTS fan from Estepona, Spain.

Fans of South Korean boy band SEVENTEEN will have to cough up $3 more for their light sticks, while supporters of acts such as EXO, SHINee, Girls’ Generation and YG Entertainment’s BlackPink are entirely out of luck. SM Entertainment’s 041510.KQ global shop said EXO, SHINee, and Girls’ Generation’s fanlights were sold out, while those of BlackPink were out of stock on the band’s official website.

Hybe, SM Entertainment, and other top Korean entertainment companies did not respond to requests for comment.

While the Grammy-nominated BTS plans to perform live in Los Angeles in November and December for the first time since the pandemic, other South Korean acts are scheduling online shows. Still, fans are looking forward to make the most of those, with light sticks on and sharing messages in chatrooms.

“It’s a fun way to feel connected to other fans all around the world so when you do get to enjoy a concert even from home you can somehow feel part of something amazing!” said Starla Stafford, a fan from Chattanooga, Tennessee.

LONG WAIT
Compounding the pain, semiconductors in light sticks are manufactured using older technologies and such low-end chips face the biggest shortage right now, said Jim Handy, an analyst with semiconductor market research firm Objective Analysis.

Wait times for semiconductor deliveries have now stretched to up to six months, compared with the usual about two months, manufacturers said.

“I bulk ordered microcontroller chips in advance, hoping live events will be back next year, because the delivery time is long,” said Ashton Jungmin Choi, a co-founder of FANLIGHT, a Seoul-based company that makes light sticks for bands such as BTS, EXO, and SuperM. He said shipping charges have gone up three times, and chips cost 30% more compared with a year ago.

“It is very difficult to get any light stick. They are always in demand and it has been impossible to get the BTS Army Bombs,” said Mette Kidal, owner of All In Kpop, a Denmark-based K-pop merchandise retailer that opened a new store in the country this month to cater to surging demand.

Fanlights of TWICE sold out faster than usual, Kidal said, after the girl group teased an upcoming tour in the final scenes of their newly released all-English single “The Feels.” — Reuters

Farm group seeks more frontline inspection of agriculture imports

PHILSTAR

By Revin Mikhael D. Ochave, Reporter

A FARMERS’ organization said a serious plan to curb smuggling of farm produce would require the stationing of Agriculture department personnel at ports of entry in order to deter misdeclared shipments.

Raul Q. Montemayor, Federation of Free Farmers national manager, told BusinessWorld via mobile phone that the new measures agreed upon by the Department of Agriculture (DA) and Bureau of Customs (BoC) are “just for show.”

“To control misdeclaration and undervaluation, the DA should put people in the ports to determine the exact grade and tariff lines for incoming imports so that they can be matched against the proper reference prices of BoC,” he said.

Mr. Montemayor was referring to the recent agreement between Agriculture Secretary William D. Dar and Customs Commissioner Rey Leonardo B. Guerrero to improve “second border” inspections and to form a technical working group that will review guidelines on the handling of imported food.  

In a statement over the weekend, Agriculture Secretary William D. Dar said all fresh and frozen agri-fishery shipments will still undergo an “open-close” examination at the port of entry, but will be subject to 100% inspection upon arrival at the “second border” or designated warehouses.

The DA added that it will work with the BoC to implement a stricter “second border” inspection and control procedures to ensure food safety, which will include an investigation into whether goods are properly declared.

“This measure will only be temporary pending the completion of the first border facilities that will be constructed by the DA at major ports, starting in Subic, to be known as a Commodity Examination Facility for Agriculture (CEFA),” Mr. Dar said.

The CEFA aims to conduct a “full and thorough inspection of containerized agricultural commodities through risk assessment, together with x-ray screening by the BoC, subjecting all agricultural and food imports to 100% sampling and laboratory testing.”

In July, the DA announced that it is set to establish the first CEFA at the Subic Bay Freeport Zone. This is a change to the DA’s initial plan to construct such a facility at the Manila International Container Port, where the department’s building plans have faced delays. 

Jayson H. Cainglet, Samahang Industriya ng Agrikultura (SINAG) executive director, said in a mobile phone message that the concept of a “second border” is unusual and not addressed by Republic Act No. 10611 or the Food Safety Act.

 “In the parlance of international trade and global markets, there is no such thing as a ‘second border’ because it is a gateway to smuggling and unsafe food and tainted agricultural products,” Mr. Cainglet said.

On Sunday, SINAG wrote to Senator Cynthia A. Villar to seek the assistance of her Senate Committee on Agriculture regarding the inspection regime for produce amid rampant vegetable smuggling.  

“We are again appealing to investigate and take to task these officials that are wanting in their duties to protect the agriculture sector, safeguard us against the entry of unsafe food and shield the country from possible public health concerns in the light of the current pandemic,” SINAG said in the letter.

“Without first border inspection, there is no way for the government to curb smuggling and makes the country more vulnerable to health pandemics, including coronavirus disease 2019 (COVID-19),” it added.

Vegetable farmers have complained about the proliferation of cheap smuggled vegetables such as carrots and cabbage in Metro Manila public markets.

LYKA to apply for operator of payment system license

BW FILE PHOTO

SOCIAL MEDIA platform LYKA/Things I Like Co. Ltd. (TIL) will apply for an operator of payment system (OPS) license after the Bangko Sentral ng Pilipinas (BSP) last week said its marketing arm cannot be given the license on its behalf.

“Instead of challenging the BSP’s decision before a judicial forum, LYKA has determined that the fastest resolution to the matter is to simply commence the registration of its own Philippine entity as an OPS, including setting up its own Philippine operations and equipping it with the best talent possible,” LYKA said in a letter to its partner merchants.

It assured that it will continue to honor all obligations and commitments made by its marketing arm, Digital Spring, to its partner merchants. It added that their accreditation as partners will also be honored.

LYKA said it has started to scout for a country head and a support team for its Philippine operations.

It added it will continue to cooperate with the BSP and other regulators.

The central bank on Friday said it upheld the cease-and-desist order it issued against Digital Spring in July, saying LYKA itself should register for an OPS license.

“Digital Spring applying for registration, instead of LYKA/TIL itself, is like saying the airline ticketing office can apply for a flying license on behalf of the pilot. It is the pilot who must apply for the license,” BSP Deputy Governor Mamerto E. Tangonan said in a statement on Friday.

Through the Gift cards in Electronic Mode or GEMS on its platform, LYKA allows users to purchase, exchange, and pay for goods and services with selected merchants.

The BSP said having these services make LYKA an OPS, which means it needs to secure a regulatory license to continue operating.

The central bank earlier told the public to only engage with registered OPS. Its database posted on its website showed it has granted OPS licenses to 164 entities, while nine companies have provisional certificates of registration as of Oct. 1. — LWTN

No fees charged on agri machinery, farmers warned

PHILSTAR

THE Philippine Center for Postharvest Development and Mechanization (PhilMech) warned farmers against persons attempting to collect fees on equipment being distributed through the government’s farm mechanization program.

PhilMech Director Baldwin G. Jallorina said in a recent virtual briefing that he has received reports of persons asking for processing fees from farm cooperatives and associations (FCAs) to facilitate the delivery of farm machinery. 

Mr. Jallorina added that facilitation fees are also being sought from the suppliers of the machinery who have been awarded supply contracts.

“We at PhilMech would like to emphasize that we never authorize nor tolerate the collection of both the processing and facilitation fees,” Mr. Jallorina said.

“FCAs that are interested to become beneficiaries under the Rice Competitiveness Enhancement Fund (RCEF)-Mechanization Program need not pay any fees to become recipients of free machinery under the program, and to avail of the training related to the program, both hands-on and online,” he added.

According to Mr. Jallorina, attempts to collect fees have been reported in Pampanga, Bulacan, and Pangasinan.

“We are still verifying the allegations. The reports we received came from the suppliers themselves and some potential beneficiaries of the program. We opted to be discreet but the issue became worse when the machinery suppliers themselves called us to verify the collection of fees,” Mr. Jallorina said.  

“We received reports as early as 2020. We are conducting an investigation and have asked the help of our staff in the field and respective local government units (LGUs),” he added.

As of Sept. 28, Mr. Jallorina said PhilMech has distributed 14,368 units of various farm machinery such as four-wheel tractors, hand tractors, and floating tillers.

RCEF has an annual allocation of P10 billion from 2019 to 2024 to help farmers become more competitive against imported rice following the passage of Republic Act No. 11203 or the Rice Tariffication Law.  

The machinery program is to receive 50% of the RCEF allocation. — Revin Mikhael D. Ochave

The loan and short of car buying

Based on data, Ford vehicles consistently emerge as among the preferred vehicles of BPI customers. — PHOTO FROM FORD

BPI, Ford team up for flexible auto loans

WOULD YOU believe me if I said that, despite the uncertainties due to this ongoing pandemic, the demand for automobiles has continued to rise in this country? Well, it has. That is according to BPI’s Retail Lending Group Head Dennis Fronda, who revealed that the monthly applications on the company’s website tripled from the start of 2020 to the end of that same year. Additionally, the total online loan applications over the first seven months of 2021 even grew by a further 37% compared to the same period last year. This strong demand may not immediately seem instinctive, but it appears that Filipinos put a high premium on personal safety by securing their own private means of transportation.

My second interesting bit of information is that, based on data, Ford vehicles consistently emerge as among the preferred vehicles of BPI customers. Having said that, you must have already guessed that the two large brands thought of forging a partnership that would help their clients more easily purchase their long-desired vehicles. And this is where the special, new “Ford x BPI” flexible auto loans come into play.

“BPI is one of the biggest and most trusted banks in the Philippines, and this partnership will allow us to tap into its large, stable customer base and nationwide presence. This partnership will give our customers a new banking partner that will extend exclusive offers, competitive rates, and flexible financing programs under a well-established auto loan program,” remarked Ford Philippines Managing Director Mike Breen.

Basically, interested buyers of Ford vehicles such as the Ford Ranger, Ford Territory, and Ford Everest may avail of any of BPI’s special new auto loans which can provide up to P230,000 in discounts for BPI Family Bank clients. Customers may choose the affordable payment solution that fits their specific needs; in the process they can benefit from low down payments, low interest rates or low monthly amortizations.

“With this partnership, we also see the opportunity to work even more closely with the Ford dealer network nationwide, so we can better service their customers in the dealerships. We see opportunities to add value to each of our institutions and grow sustainably in spite of the pandemic,” shared Mr. Fronda.

Born out of this partnership is a Step Up Payplan program which offers a lower monthly amortization during the first two years of the loan. Then it slowly steps up every year, moving forward. There is also the Auto Loan Multi-year Protect, which already has the car insurance premium embedded within the monthly payments. This eliminates the hassle of having to deal with annual insurance renewals.

Moreover, there is also the Zero Cash Out program, which offers the first year of the car’s comprehensive insurance for free, plus a waived chattel mortgage fee. The first month of the auto loan installment will also be subsidized. This effectively allows the client to “drive now and pay later,” for as long as he has cash in his BPI bank account which the bank can hold as down payment for the said purchase.

They’re quite encouraging payment solutions brought to us by one of the oldest banks in the Philippines in cooperation with one of the oldest car manufacturers in the world.

Finally, Mr. Fronda also wishes to point out that beyond Ford being one of the preferred car brands of their depositors, he is also happy to share that the loan delinquency rate of Ford customers is also one of the lowest in the market. So, effectively, it’s a win-win!

ePLDT rolls out cloud-based service for businesses

EPLDT, Inc., the information and communications technology firm of the PLDT group, launched a cloud-based phone service for businesses in partnership with Microsoft and AudioCodes.

“With ePLDT Calling for Microsoft Teams, we will enable businesses to have maximum productivity and a seamless collaboration among employees,” said Jovy Hernandez, president and chief executive officer of ePLDT, and senior vice-president and head for PLDT and Smart Enterprise Business Groups, said in a statement on Friday.

The company said the service was launched in response to operational inefficiencies as organizations implement work-from-home arrangements, where employees are forced to deal with multiple applications for work.

“Traditional telephony solutions provided limited capabilities at a high cost and effort,” said Nico Alcoseba, vice-president and head of ICT Business for PLDT Enterprise.

“ePLDT Calling for Microsoft Teams is the perfect solution for effective internal and external communication,” he added.

The ePLDT Calling for Microsoft Teams aims to connect all the communication needs of an organization through one application.

Calls via the platform, which include videoconferencing, are said to be protected via Microsoft 365’s security system. Organizations may also get real-time quality of calls insights.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a stake in BusinessWorld through the Philippine Star Group, which it controls. — Keren Concepcion G. Valmonte

New washing machine targets allergens

TURKISH appliance brand Beko has launched a new washing machine that has gotten a stamp of approval from Allergy UK, a British medical charity dedicated to helping children and adults with allergies.

The new washing machine, which uses steam as an extra step in getting clothes clean, was launched online on Oct. 7.  “Beko continues to be a partner of the Filipino family in staying healthy as we provide them with the tools to clean their homes and keep and cook,” said Gurhan Gunal, Country Manager of Beko Pilipinas Corp. during the online press launch. “We are proud that in the short time we have been present in the Philippine market, Filipino consumers trust us for their appliance needs because Beko’s products are efficient and affordable,” he said.

The washing machine’s SteamCure Hygiene+ technology removes stains on clothing by releasing steam from the bottom of the drum before washing. The steam acts as a pre-treatment which helps loosen stains and dirt in garments.

The washing machine’s technology also reduces allergens that are carried by air dust, dirt, and other elements, said Cecil Placia, Beko Pilipinas’ Product Marketing Head.

“Hygiene+ is a washing program that blends sensitive temperature control. This temperature ranges from 20 degrees Celsius, up to 90 degrees Celsius with additional rains and cycles to make sure these micro-organisms are removed, and allergens are reduced,” Ms. Placia said.

The washing machine releases more steam after a wash cycle to help smoothen the garments and ease ironing.

Ms. Placia ensured that the appliances can last more than five years.

“The products that we launched have been performing well, and we do receive good feedback from the people who use the product and have bought the product,” she said.

The brand is currently available in select All Home, Anson’s, Savers, Gidi Distribution stores, and at Asian Home Appliance Center in Cebu, and in e-commerce partners Lazada, Household Appliances Trading hat.com.ph. For more information, visit www.facebook.com/bekoph. — MAPS

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