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Digital transactions via LANDBANK surge in the first semester

DIGITAL TRANSACTIONS coursed through Land Bank of the Philippines (LANDBANK) increased in the first half, driven by increasing demand and the government’s push for online financial services.

The state-run bank facilitated a total of 77.6 million transactions amounting to P1.4 trillion in the first six months of the year, LANDBANK said in a statement on Sunday.

This translated to a 25% year-on-year growth in volume and a 21% increase in terms of value.

The transactions were composed of those done on LANDBANK’s mobile banking app, iAccess, weAccess, Link.BizPortal, Electronic Modified Disbursement System (eMDS), and LANDBANK Bulk Crediting System (LBCS), the lender said.

Broken down, LANDBANK’s mobile banking app recorded 59.8 million transactions worth P103.1 billion in the first half, 27% higher in terms of volume and up 37% in value.

LANDBANK’s eMDS, its Internet facility for national government partners, saw P966.2 billion in transactions, up 22% year-on-year, via 1.2 million transactions.

Meanwhile, transactions done via the bank’s corporate internet banking platform weAccess rose 11% to P262.8 billion, with the volume of transactions rising 17% to “more than 10 million”, LANDBANK said.

LANDBANK’s web-based payment facility, Link.BizPortal, facilitated 2.8 million transactions, up 48% year on year. The value of these payments rose 30% to P6 billion.

Lastly, iAccess, LANDBANK’s online retail banking channel, and LBCS, its electronic disbursement facility, recorded a combined 2.8 million transactions worth P15.3 billion.

Finance Secretary Benjamin E. Diokno on Friday gave his marching orders as LANDBANK’s new board chairman.

“LANDBANK should be at the forefront in transforming into reality the Marcos administration’s goals of achieving a truly inclusive financial system and long-term economic growth that benefits all Filipinos,” Mr. Diokno said in a video message.

The state-run bank’s net income soared by 93.5% year on year to P20.3 billion in the first half. — D.G.C. Robles

Glaciers inspire Montblanc’s new range

Montblanc Meisterstück Glacier Doué Classique Fountain Pen

“BY ALL MEANS move at a glacial pace. You know how that thrills me,” said Miranda Priestly to her assistant Andrea Sachs in The Devil Wears Prada. Montblanc’s cross-category Glacier collection, which sees pens, leather goods, and watches try to show just how thrilling glaciers can be.

For example, a display of functional, masculine bags during a presentation of the new line on Aug. 9 featured an ice motif. The nylon on which the icy design is printed is Econyl, made from recycled materials, and they look like bags to be worn by very cool kids. The wearer will be cool in more ways than one, considering that the bags’ buckles are the Montblanc M Lock 4810, a pressure closure used in the world of climbing and mountaineering and introduced as a new brand code.

As for the pens, the new design elements of the Montblanc Meisterstück Glacier collection feature blue-grey and white tones, a PVD coating technology that gives the surface an ice-like appearance, as well as engraving on the Doué and Solitaire editions that resembles the refraction of light when hitting ice crystals. Based on the legend that the Mer de Glace glacier resembles a giant monster hugging the northern slope of Mont Blanc (the German-headquartered brand’s namesake Swiss mountain), every nib in the collection is engraved with the Mont Blanc Mer de Glace dragon.

Finally, the brand used this collection to launch its first certified diving watch, the Montblanc 1858 Iced Sea Automatic Date. It comes in a 41mm stainless steel case with a bicolor ceramic unidirectional rotating bezel and a case back featuring a 3D relief engraving of an iceberg and a scuba diver exploring the glacial waters below. BusinessWorld fiddled with the watch last week and saw the ease in switching the watch’s stainless-steel bracelet with a rubber strap — almost making the watch seem like a two-for-one deal, retailing on the company’s website for $3,190 (or P177,762.75 with a P55.72 per dollar exchange rate).

“Gazing into the depths of this Alpine ice is an incredible experience that we wanted to bring to our products, finding a creative way to create that same sense of awe and wonder. These pieces don’t just emulate the aesthetic appeal of the icy texture but celebrate these glaciers and iced lakes by expressing the spirit of adventure the Mont Blanc inspires in everyone; a spirit that is core to Montblanc’s own attitude towards exploration and the preservation of the great outdoors,” Marco Tomasetta, Montblanc Creative Director, was quoted as saying in a statement.

“Staying true to the maison’s spirit of exploration and dedication to craftsmanship, the maison’s watchmakers revived an almost-forgotten ancestral technique to create the illusion of a frozen dial,” explained Michael Tantoco Huang, Senior Vice-President for Store Development for Rustan Commercial Corp. (which distributes Montblanc in the Philippines) in a speech during the launch.

“Truly, Montblanc is a brand whose craftsmen and artisans fully commit themselves to designing masterpieces that are actual works of art, symbolizing the core of the brand’s DNA.”

Montblanc is available at Rustan’s Makati, Rustan’s Shangri-La, Rustan’s Cebu, Greenbelt 5, City of Dreams and Resorts World.  — JL Garcia

C major

The fifth-generation C-Class, which debuted globally last year, is now available in the Philippines. The lone variant, for now, is the C 180 Avantgarde, which sells for P3.89 million. — PHOTO FROM AUTO NATION GROUP

The Mercedes-Benz ‘Baby S’ grows up with new tech toys, bigger dimensions

IT SEEMS that most sedan launches these days are welcomed by that unmoving elephant in the room — one that is, to be fair, readily acknowledged by motoring journalists. Sometimes, in fact, we are only too eager to point it out.

And so without much preamble, Auto Nation Group, Inc. (ANG) Chief Operating Officer Frankie Ang just addressed it in a straightforward fashion. “In a world of SUVs, Mercedes-Benz sedans continue to make their mark. The success of the A-Class, the E-Class, and the S-Class, proves that luxury sedans are here to stay,” he said last Thursday to the gathered invitees ahead of the local unveiling of the all-new C-Class at the Mercedes-Benz showroom at the Bonifacio Global City in Taguig.

The executive of the official Stuttgart-headquartered luxury auto brand’s distributor in the country asserted that the compact luxury model is “a key pillar” of the Mercedes-Benz success. “Here in the Philippines, the C-Class is undoubtedly one of the most loved luxury sedans. It has enjoyed customer preference — with over 2,000 units sold since 2005,” he reported.

And though it is not the entry point in the stable of the three-pointed star, the C-Class line does have a unique value proposition that surely helps to drive its sales. This attribute does not appear in the usual brochure — but is just as, or even more compelling than tangible features. You see, the C-Class is widely known as the “Baby S,” referring to its bigger, and more illustrious sibling that is the S-Class (if you want to know, it stands for sonderklasse or special class).

For starters, it takes a generous serving of inspiration from the S-Class in terms of gait and appurtenances. Said Mercedes-Benz Philippines in a release, “It carries the latest innovations and modernizations that give the styling elements, substance and technologies (of) the flagship S-Class.”

Speaking to “Velocity” after the launch, Mercedes-Benz Philippines Assistant Vice-President for Product Management and Training Benjie Bautista pointed out the kindred qualities of the two models. It starts with the exterior, he maintained, such as the long wheelbase, which is accentuated in the C through shorter overhangs. The LED high-performance headlamps with daytime running lights are also similar. “But most striking of all,” he insisted, “is when you look at the back of the car. The separated, wedge-shaped taillamps with full-LEDs call to mind the S-Class (and E-Class) lighting.” The C also cuts a decidedly more authoritative presence with pronounced “power domes” on the hood for a more “sporty and masculine character.” The exterior is complemented by a elegant 18-inch multi-spoke light-alloy wheels shod with run-flat tires.

The “baby” — technically still a compact luxury sedan — has done some growing up as well when compared to its predecessor. The wheelbase has stretched by 25mm, overall length by 65mm, and width by 45m. The fifth-generation C also clears the ground by seven millimeters more. According to Mercedes-Benz, these numbers translate into not just more cabin space but improved driving dynamics, too.

Inside, the S-Class homage continues with the next generation of the Mercedes-Benz MBUX multimedia system (first seen on the, yes, S-Class). The NTG7 system “now gets more connectivity features and the ‘Hey Mercedes’ voice command system. The driver can also operate the MBUX in the multifunction steering wheel via touch control buttons.” While we’re at it, the C-Class now boasts Wireless Apple CarPlay and Android Auto for app action such as Messages, Spotify, Waze, and more. That’s downright millennial, I know.

And that’s the point: The C-Class has been designed to appeal exactly to the people who are tech-savvy and, well, generally younger. While Mr. Bautista said that the C-Class will attract the same “core segment” in the sphere of E and S customers, he added that the C “caters to the new generation.”

Other S-Class inspirations are found through the execution of the cabin and even in the use of materials and color keys. Mr. Bautista told us that the simplification of controls and the presence of capacitive switches, the wealth of ambient lighting colors available (64, if you’re wondering), even option of hues for the seats (Sienna Brown and Macchiato Beige, in addition to the usual black Artico leather) were previously confined to the S-Class. It’s all about systematically improving and heightening the brand experience, and the executive said to expect these innovations and touches to gradually roll out to the rest of the lineup.

A tablet-like 11.9-inch floating central display touchscreen — slightly oriented toward the driver — makes for easier reading and operation. Another digital screen — already standard on many Benzes — measuring 10.25 inches supplants the traditional physical gauges. This large screen display can also be changed to suit the one’s druthers: Classic, Sport, and Understated modes, for starters. It can also show driver assistance menus.

While there may arguably be a foundational shift in a market generally crazy over SUVs, Mercedes-Benz continues to believe that there is business to be had in sedans. “They’re here to stay; without these models, SUVs would not even be present,” insisted the executive.

For his part, Mr. Ang distills the main tenets of the C-Class into three “Cs” — comfort (will make passengers “relaxed and extremely comfortable in the space”), connectivity (“total connectivity in today’s digital world — supporting interactions between the driver and the car”), and control (“power meets efficiency… and with improved driving dynamics”).

The new C-Class, to be initially available here in a lone C 180 Avantgarde version, is powered by a turbocharged 1.5-liter, four-cylinder gas engine that delivers a maximum of 170hp and 250Nm. Significantly, the C-Class now comes with an electrified drivetrain — only the second in the portfolio to boast it. The first? You guessed it: the S-Class.

The C-Class is a mild hybrid, courtesy of the brand’s second generation of EQ Boost-branded tech. An integrated starter generator and 48-volt power supply assist the internal combustion engine by providing up to 15kW of power and up to 200Nm of additional torque — leading to better acceleration yet lower fuel consumption.

All the power is delivered to the rear wheels, courtesy of a 9G-Tronic AT transmission. Mercedes-Benz boasted that there are “barely noticeable gear changes for a smooth yet engaging drive.” The transmission is also biased for lower revs for even better fuel efficiency (and a quieter drive). As with other Mercedes-Benz vehicles, the C-Class allows the driver to tailor the characteristics of the vehicle through Dynamic Select which “tweaks the engine, suspension, and steering of the car” at will.

The larger exterior dimensions of the latest C translates to more space inside in terms of legroom and headroom. Seats are also electrically adjustable for the driver and front passenger through the aforementioned capacitive switches. The vehicle also remembers up to three seat settings for the front occupants, along with four-way lumbar support to adjust the seat contour for an even more comfortable ride.

A Thermatic dual-zone automatic climate control system can be easily adjusted on the central display, and boasts an activated charcoal filter to remove dust and reduce harmful chemicals and substances.

As for safety, the C-Class has a complement of seven air bags — including a two-stage-deployment air bag for driver and passenger, side bags, window bags, and knee bag for the driver. Blind Spot Assist warns when a vehicle enters the driver’s blind spot, and other driver assistance systems such as Active Brake Assist, Active Parking Assist, 12 ultrasonic sensors in the front and rear, a reversing camera, and Attention Assist help to complete a shell of protection.

During the Q&A session, we asked about the rollout plans for electrified Mercedes-Benz vehicles in the region. Mercedes-Benz Malaysia President and CEO and Mercedes-Benz Cars Southeast Asia Region II Head Sagree Sardien replied, “Our global direction, as you might be aware, is that we plan to accelerate the transformation to an all-electric future. As announced by Mercedes-Benz AG, we plan to go at least 50% of electrified vehicles by 2025, and by the end of the decade go all-electric where possible.

“What does this mean for Southeast Asia specifically? We are also committed to accelerate the transformation of electrified vehicles by doing so we determine by a market basis what is the right vehicle portfolio to bring in, the timing, the readiness of the charging infrastructure in the respective countries but more important for us right now — we invest the energy and time to ready our sales force and after-sales environment to be ready for all-electric. We really hope that in the Philippines, that the degree and the intensity of electrification and acceleration starts to speed up, and I can assure you that we are 100% to bring electrification to the Philippines, and we look forward to how this market actually develops in the future.”

I spoke to Mr. Ang before the program, and he assured that while vehicle production is still impacted negatively by an industry-wide parts and chip shortage, the situation is steadily getting better. The wait can be as little as one to two months, bearing in mind that this also factors in the customization requests clients can make. The C-Class units are shipped from the Mercedes-Benz plant in South Africa.

The new Mercedes-Benz C-Class Avantgarde has an introductory price of P3.89 million. For more information, visit Mercedes-Benz showrooms at Bonifacio Global City, EDSA Greenhills, Alabang, and Cebu City; or www.mercedes-benz.ph.

LT Group swings to profit, earns P8.9B

LT Group, Inc. (LTG) posted an attributable net income of P8.87 billion in the second quarter, reversing last year’s net loss of P2.76 billion, as its topline increased by 7.3% to P23.65 billion.

In the first half, its net income attributable to parent firm equity holders rose to P15.4 billion, more than four times last year’s P3.73-billion income.

Revenues rose to P45.76 billion in the first six months, a 3.7% increase from the previous year’s P44.14 billion.

Banking unit Philippine National Bank reported a net income of P11.15 billion during the semester, 50% lower than P22.2 billion a year ago.

Its tobacco segment reported a 14% decline in net income to P7.77 billion from P9.01 billion reported last year.

Tanduay Distiller, Inc. registered a P564 million net profit during the six-month period, 7% lower than the P605 million last year, after incurring higher costs due to a rise in the prices of alcohol and fuel.

Asia Brewery, Inc.’s income was also lower at P294 million, down 14% from last year’s P343 million.

Eton Properties Philippines, Inc. reported a net profit amounting to P258 million, also a decline from last year’s P288 million by 10%.

The company said that “LTG’s balance sheet remains strong” by having a debt-to-equity ratio of 3.68:1 with the bank, and 0.14:1 without the bank at the end of the quarter.

On the stock market on Friday, shares in LTG climbed by 2.4% or 21 centavos to P8.95 apiece. — Justine Irish DP. Tabile

Analysts’ expectations on policy rates (Aug. 18)

THE BANGKO SENTRAL ng Pilipinas (BSP) is widely expected to raise the benchmark rate on Thursday, with most analysts forecasting a 50-basis-point (bp) increase after inflation quickened to a near four-year high in July. Read the full story.

Analysts’ expectations on policy rates (Aug. 18)

Ban lifted on imports of poultry products from US, Japan

PHILSTAR FILE PHOTO

THE Department of Agriculture (DA) said it is lifting the temporary ban on imports of poultry products from the US state of Missouri and from Japan.

The ban had covered domestic and wild birds and their products, including poultry meat, day-old chicks, eggs and semen.

In a memorandum order, the DA said it imposed the ban after detecting Highly Pathogenic Avian Influenza (HPAI) in several US regions.

“Based on the report of the veterinary authority of the US to the World Organization for Animal Health and the supporting documents submitted by the USDA Animal and Plant Health Inspection Service (APHIS) all outbreaks of HPAI in Missouri are now closed and resolved,” according to the order.

The DA said the risk of contamination from importing poultry meat, day old chicks, eggs and semen is negligible.

In a separate memorandum order, the DA also lifted the ban on products originating from Japan, following the declaration of its HPAI-free status.

“Based on the final report submitted by the veterinary authorities of Japan… the HPAI events in Japan with the previous temporary suspension order are now closed and resolved,” according to the order. — Luisa Maria Jacinta C. Jocson

Yields on gov’t debt mixed on auction result, US data

YIELDS on government securities (GS) ended mixed last week after the Treasury made a full award of its offer of reissued 10-year T-bonds and as US inflation is seen to have peaked.

Debt yields, which move opposite to prices, increased by 1.96 basis points (bps) on average week on week, based on PHP Bloomberg Valuation Service Reference Rates as of Aug. 12 published on the Philippine Dealing System’s website.

Rates across the yield curve ended mixed. Yields on the 182- and 364-day Treasury bills (T-bills) went up by 15.37 bps and 28.75 bps to 3.0247% and 3.6568%, respectively. Meanwhile, the 91-day T-bills fell by 4.62 bps to fetch 2.0768%.

At the belly, the two- and three-year Treasury bonds (T-bonds) inched up by 1.32 bps (to 4.6492%) and 0.09 bp (5.0092%), respectively.

On the other hand, the four-, five-, and seven-year T-bonds dropped by 1.66 bps (5.2783%), 4.01 bps (5.4704%), and 9.41 bps (5.7238%).

The long end of the curve saw yields on the 20- and 25-year debt papers increase by 7.75 bps and 8.47 bps to 6.6594% and 6.6485%, respectively. Meanwhile, the rate of the 10-year paper fell by 20.49 bps to fetch 5.9330%.

Total GS volume traded for the week increased to P8.656 billion on Friday from the P7.953 billion seen on Aug. 5.

“Movement was mainly driven by the strong demand for medium- to long-term bonds, with cues mostly coming from a significantly oversubscribed primary market and relatively light market positioning,” ATRAM Trust Corp. Head of Local Markets Jose Miguel B. Liboro said in an e-mail interview.

“For the most part, given that the yields remain decent on the benchmark 7–10-year tenors, locking in yields at current levels is an attractive proposition for investors that expect some CPI (consumer price index) normalization by next year,” Mr. Liboro said.

“Yields ended the week almost unchanged from mixed signals following the upside surprise in the US labor reports and as softer US inflation reports boosted market sentiment that US inflation might have already peaked in June 2022,” a bond trader said in a separate e-mail.

“The pivotal US consumer and producer reports have recalibrated market expectations regarding future rate hikes from the Federal Reserve,” the bond trader said.

The bond trader added that while the global markets are still expecting another rate hike of 75 bps from the US central bank, future rate adjustments might become less aggressive as inflation is highly seen to decline in the coming months.

The trader said the weaker-than-expected Philippine economic output in the second quarter also affected yield movements last week.

The Bureau of the Treasury (BTr) raised P35 billion as planned from its offer of reissued 10-year securities that have a remaining life of six years and five months last week as bids stood at P105.72 billion, more than thrice the amount on the auction block.

Rates awarded ranged from 5.7% to 5.874%. This brought the average yield on the bonds to 5.791%, 108.4 bps lower than the 6.875% coupon fetched for the series when it was first offered on Jan. 8, 2019.

The BTr opened its tap facility to raise P10 billion more to accommodate strong demand.

Meanwhile, the US consumer price index ended flat month on month last July from 1.3% in June. On an annual basis, inflation rose by 8.5% in July, slower than 9.1% in June.

Producer prices also declined last month on the back of lower energy costs. The producer price index for final demand declined by 0.5% last month after climbing by 1% in June. In the 12 months through July, it increased by 9.8% after rising by 11.3% in June.

Back home, preliminary data from the Philippine Statistics Authority showed gross domestic product expanded by 7.4% year on year in the second quarter, easing from the downwardly revised 8.2% print seen in the first three months of 2022 and the 12.1% expansion seen a year earlier.

For this week, the bond trader said yields may move higher amid broad expectations of at least a 25-bp rate hike from the Bangko Sentral ng Pilipinas (BSP) at its meeting on Aug. 18.

“Market will be looking towards the 10-year reissuance and the upcoming BSP meeting to determine broad direction in yields as well as overall shape of the yield curve,” Mr. Liboro said.

“If the 10-year primary market demand continues to be strong, then we anticipate further drift in yields lower. BSP will likely deliver a more hawkish stance given the still-high inflation print,” he added. “While the front end part of the curve may adjust higher, the long end will likely continue to be driven by end-user demand looking to lock in yields.” — AMPY

Style (08/15/22)

PONY opens first concept store in Trinoma

SHOE brand PONY opens its very first brick-and-mortar store in Trinoma in Quezon City. Located on the 2nd floor beside the food court, the store features a wide selection of footwear ranging from its heritage designs to the brand’s newest styles. Founded in 1972 in Madison Ave. in Manhattan, New York, PONY (short for Product Of New York) was designed to be worn by real people.  PONY rose to icon status in the 1970s and ’80s after being worn and endorsed by legendary soccer player Pelé and basketball player Spud Webb. It has more recently been seen on celebrities and musicians such as Hailey Baldwin, Justin Timberlake, and Snoop Dogg. To mark the opening, customers will receive a 10% discount on regular items until Aug. 17. Check out PONY’s official webstore www.pony.com.ph and department stores nationwide.

Uniqlo marks 2nd year of online shop

JAPANESE global apparel retailer Uniqlo celebrates the second anniversary of its online store with new and updated services, limited offers, and special events throughout August. Uniqlo.com has the widest selection of LifeWear and shoppers can access the pre-launch of new items and avail themselves of online-exclusive extra sizes. Delivery is also now faster with a one-to-three-day delivery time for those in Metro Manila. Additionally, the Uniqlo app also allows them to enjoy free alterations on select bottoms. To request adjustments for online purchases, shoppers must choose the alteration type and inseam length on the item’s page. The app also offers a Click and Collect feature where customers can either shop online and pick up the items at their convenience at the nearest store, or avail themselves of fast and free nationwide shipping for a minimum purchase of P2,500. Cash on delivery is now available. All throughout the month, customers can get a P300 discount coupon when they order with Click & Collect. Shoppers at Ayala Center Cebu can learn more about shopping at uniqlo.com through an exhibit. Visitors who download the app for the first time and take a photo at the installation can claim a free novelty item. Customers can also join new episodes of Uniqlo’s Live Station, a shopping livestream where they can purchase items in real-time, interact with the hosts and stylists and ask questions, and win special prizes. There will be Live Station episodes on Aug. 19 and 26.

COS launches Anatol Knotek limited-edition collection

COS × Anatol Knotek is the latest collaboration by the London-based fashion brand. The collection features Knotek’s typographic elements and monochrome color palette. Partially color-blind, his artwork replaces color and drawn lines with words, working with language to create impact. His apparently simple artwork usually conveys a hidden message, often incorporating a sense of humor. His artwork, named, The Solution, forms the foundation of the capsule collection, where the “poem” arises from the “problem.” The unisex collection uses the classic relaxed-fit T-shirt as the canvas for two T-shirt designs in inverted colorways. The collection is available in-store for a limited time only. COS in Manila is located in SM Aura Premier, McKinley Parkway cor. 26th Street, Fort Bonifacio, Taguig.

Merrell releases new colors of the Hydro Moc

MERRELL’s Hydro Moc takes on water, sand, stones, and concrete pavements all in easy stride. Amphibious and comfortable by design, they’ve become well-loved by many for being so versatile to wear biking, camping, on beach trips or just walking around the city. Merrell’s latest release offers several new colorways for men and women including the Drift line which features a gradient from heel to toe and the Elements line which, true to its name, comes in Air, Water, and Earth. The expanded women’s collection includes shades like White, Iris, and Stonewash. With its perforated design and water-friendly material, the Hydro Mocs keep feet feeling fresh while keeping the water out. This new batch of Hydro Mocs are made with 10% BLOOM algae, making them not only easy on the feet but also easy on the environment — 93 liters of water are cleaned and restored to the environment with each pair made. The latest Hydro Moc colorways are available in Merrell concept stores and Complex Lifestyle Stores nationwide, major department stores and online at the official webstore www.merrell.com.ph.

Uniqlo’s Ines De La Fressange 2022 F/W Collection out in Sept.

GLOBAL apparel retailer Uniqlo’s latest collaboration collection with Ines de la Fressange is the 2022 Fall/Winter collection. Items will be available in the Philippines from Sept. 9, with the full lineup available at the Uniqlo Manila Global Flagship Store and Uniqlo Online Store (https://www.uniqlo.com/ph/en/contents/collaboration/ines/22fw/) only. Along with classic items such as pea coats and chino pants, the lineup features modern designs, including functional items such as shirts with elbow patches, and padded shirt jackets in flannel with cotton lining. Knits this season include sweaters with color combinations that convey a graphical impression, along with 3D knit cardigans with a rounded silhouette, as well as lightweight knit jackets with a soft and fluffy silhouette. Cashmere sweaters are offered in vivid colors such as mustard yellow and pink.

Equiva focuses on sensitive skin

EQUIVA is the newest brand on the market that is specifically made for people who deal with the everyday stress of having sensitive skin. It has a pH level of 5.5 that ensures a balanced formulation that is free of common irritants like sulfates, parabens, and Methylisothiazolinone (or MIT). It is hypoallergenic and dermatologist-tested as well. According to a press statement, “you can achieve smoother skin quickly in just five days,” by using the products. Equiva’s introductory line consists of a sulfate-free facial cleanser, micellar cleansing water, and a moisturizing facial mist. The Sulfate-Free Facial Cleanser is a dermatologist-tested, non-irritating, water-based cleanser “that delivers smooth skin in just five days.” Its gel format makes skin feel more moisturized after cleansing, says the statement. It has no fragrance, parabens, MIT, and alcohol and is safe for everyday cleansing. The Micellar Cleansing Water gently removes makeup, and “it boosts the skin’s hydration level by a whopping 35%.” Its dermatologist-tested, non-irritating, rinse-free formula is pH balanced, free from parabens, alcohol, fragrance, and mineral oil (which is a plus for users with eyelash lift, eyelash extensions, and microbladed eyebrows). Equiva Facial Mist is a moisturizing facial mist that helps reduce oiliness, that again contains no parabens and sulfates, fragrance and alcohol. Equiva is available exclusively online via Lazada Mall, Shopee Mall, BeautyMNL, and UL Skin Sciences Shop.

Cream Silk launches Daily Treatment Series

AFTER getting salon treatments like a new color or a rebonding session, the challenge is post salon care. Salon procedures such as bleaching, rebonding, and perming make use of harsh chemicals, which can lead to hair becoming dry and brittle, prone to split ends and breakage. So here comes the new Cream Silk Salon Expert Daily Treatment Series. The intense daily treatment is made with a dual action keratin formulation, which deeply repairs every strand. Made to supplement one’s everyday conditioner, the Cream Silk Salon Expert Daily Treatment gives next level, intense repair to revitalize hair that’s heavily damaged from dyeing, straightening and other salon treatments. It comes in two variants that can be used daily or weekly after shampooing: Keratin Damage Repair with Keratin and Collagen Dual Serum, to deeply restore and nourish each strand for intense regeneration, and Keratin Rebond Straight with Keratin and Amino-Infusion Dual Serum to repair and boost straightness and shine for salon-straight hair. The products are now available in 18 ml sachets for P7 SRP and in 650 ml tubs for P250 SRP, in all leading supermarkets, groceries, department stores and e-commerce platforms nationwide.

New diamond wedding sets from Meycauayan Jewelries

BULACAN-based fine jewelry brand, Meycauayan Jewelries (MJ), has added two new collections to its selection of high-quality diamond engagement rings and wedding bands. The Goddess Tala Collection and Goddess Mayari Collection showcase the craftsmanship of master plateros (goldsmiths) and mananaras (stone setters), whose skills are hard to come by in this day and age of machine production and automation. Unveiled in July, the collections echo the mystique of two of the supreme being Bathala’s daughters. The Goddess Tala Bridal Set ensemble features a wedding band that can be worn in two ways — as a ring or a pendant, and an engagement ring that is adorned with a two carat IGI-graded diamond. The Goddess Mayari Wedding Band Set includes an engagement ring with a one-carat center Salt and Pepper diamond, smaller natural diamonds on the side, and a crescent prong-set. One of the two most common phases of the moon is evident in the bands — the crescent and the full moon. All rings in the collections are available in 14- and 18-karat gold. Pieces can be customized. MJ has showrooms at 511 Sampaguita St. Manzano Subdivision, Ibayo, Marilao, Bulacan and Unit 828 Vinia Residences + Versa Flats in Quezon City.To see more, visit @meycauayanjewelries.

Isuzu Philippines donates P250K to Northern Mindanao Medical Center

At the turnover of the symbolic check are (from left): Northern Mindanao Medical Center (NMMC) Chief Nurse Sheila M. Mira; NMMC Medical Center Chief II Jose C. Chan, MD, FPCHA, MHA; NMMC Chief of Medical Professional Staff Dr. Peter Quiaot; Isuzu Cagayan de Oro General Manger Nyle Balasabas; IPC Administration Division Head Imelda Bernas; and IPC Sales Assistant Division Head Robert Carlos. — PHOTO FROM ISUZU PHILIPPINES

ISUZU PHILIPPINES CORP. (IPC) is stepping up even more during its 25th year by, among other efforts, providing support to select hospitals nationwide. Represented by IPC Administration Division Head Imelda Bernas and IPC Sales Assistant Division Head Robert Carlos, the company made a donation of P250,000 to the Northern Mindanao Medical Center (NMMC) in Cagayan de Oro.

With the assistance of Isuzu Cagayan de Oro, IPC was able to connect with the government hospital. The Department of Health-managed hospital serves patients from Cagayan de Oro and Misamis Oriental where it is located, and patients from nearby provinces of Bukidnon, Camiguin, Misamis Occidental, Lanao Norte, Zamboanga del Norte, and the Agusan Provinces as well.

Isuzu Cagayan de Oro is under the Northern Mindanao Automotive Dealership, Inc. (NMADI) group which also manages three other Isuzu outlets in Mindanao: Butuan, Dipolog, and Pagadian. Isuzu Cagayan de Oro is one of the 12 pioneer dealerships of Isuzu since 1997.

In line with its Road to Progress vision, IPC will continue with this corporate social responsibility (CSR) project by donating to three more hospitals: one each from the NCR, Luzon, and Visayas regions before the year ends. For more information, visit the official IPC website at www.isuzuphil.com and follow www.facebook.com/IsuzuPhilippines.

ACEN income, 2030 goal sway investors

ACEN Corp.’s stock seesawed last week after investors heard its aggressive 2030 goal while its first-half income came out lower compared with last year.

Data from the Philippine Stock Exchange showed a total of 105.44 million shares worth P903.53 million were traded from Aug. 8 to 12.

Shares in the Ayala-led energy platform decreased by 1.8% week on week, finishing at P8.70 apiece on Friday from its P8.86 closing on Aug. 5. The stock has fallen by 17.1% since the beginning of the year.

Analysts said ACEN’s stock price last week teetered mostly due to investors receiving news on ACEN’s half-year income report and its commitment to expanding renewable energy (RE).

Globalinks Securities and Stocks, Inc. Head of Sales Trading Toby Allan C. Arce said in an e-mail exchange that while ACEN’s first-half attributable net income declined by 19% year on year, its “aggressive expansion” will bring optimism in the future. He also cited the company’s improved performance in the second quarter.

“For [the second quarter], the company realized fresh contribution from new Philippine and international plants, as well as the easing of curtailment issues in the Visayas. Also, improvements in plant availability allowed ACEN some excess capacity, thus enabling the company to benefit from strong wholesale electricity prices during the quarter,” he said.

The energy company disclosed on Aug. 9 its “ACEN 2030” plan to expand its RE capacity to 20 gigawatts (GW) by 2030. It currently has 3.4 GW of renewables. ACEN targets to transition its power generation portfolio to 100% renewables by 2025 and retire its remaining coal plant by 2040.

“The company strategy of concentrating on RE has been consistent and with their recent announcement of targeting a higher attributable capacity from RE power plants by 2030 shows management’s commitment to this strategy,” Philippine National Bank Senior Equity Research Analyst Jonathan J. Latuja said in a separate e-mail.

“Investors view management consistency and commitment favorably as this implies stability and predictability of the business,” he said, adding that the plan’s execution is another matter that investors will monitor moving forward.

Mr. Arce said ACEN’s focus on RE is what the market may be looking for, which is to not depend on fossil fuels. The energy company also builds RE projects in other countries, including Vietnam, Indonesia, and India.

Since the start of the Russia-Ukraine conflict in February, fuel prices have surged as supply chain constraints have spread across the globe due to Russia freezing its supply of fuels to other countries. 

“A global energy crisis is afoot and the elevated fuel prices are compounding the tight power supply situation in the country. The world needs to accelerate the energy transition, and the country needs new capacity urgently. Renewable energy is a huge pillar of a country’s energy self-sufficiency, and ACEN is now putting itself out there as the group [is] best situated to help all the countries in our region develop additional capacity,” Mr. Arce said.

Similarly, inflation continued to rise as surging fuel costs create a domino effect of rising prices of commodities.

Inflation rose to 6.4% in July, settling on the upper end of the Bangko Sentral ng Pilipinas’ forecast, from 6.1% in June and above the 2-4% forecast range of the central bank for 2022.

ACEN’s second-quarter net income attributable to parent firm equity holders picked up by 25.4% to P1.78 billion from P1.42 billion in the same quarter a year ago. After-tax income went up by 0.9% P2.2 billion from P2.18 billion.

However, for the six months to June, its attributable income was down by nearly 19% to P2.18 billion from P2.69 billion a year ago.

The company’s income after tax for the first semester declined by 28.4% to P2.95 billion from P4.12 billion a year earlier.

Mr. Latuja said that inflation affected ACEN’s growth in the second quarter due to higher fuel costs and lower purchasing power.

“For 2022, our earlier forecast was at [P7.3 billion] but we may have to revise this given their [first half 2022] performance. We believe that the more important story for [ACEN] is how the management team will be able to fund and realize their long-term goals given the overall increase in interest rates,” he said.

Mr. Arce expects the company’s third-quarter net income to drop to P1.3 billion before surging to P2 billion in the last quarter of 2022, while he projects net income for the year to reach P6.8 billion and to double in 2023 to P12.5 billion.

“Inflationary pressures have been at the heart of this disruption. Global supply chain bottlenecks, rising input costs, concerns around the underlying health of the economic recovery, and the threat of rising interest rates, have created a very challenging environment,” he said.

Looking forward, analysts will follow ACEN to see whether it is on track to achieve its 2030 goal despite local and international pressures.

Mr. Latuja said that if inflation continues to climb and the government raises its policy rates higher, ACEN might be affected in terms of higher costs of funds in their expansion plans.

Mr. Arce gave his support and resistance levels at P8.50 and P9, respectively, adding that while the cost of developing RE projects has increased due to inflation, this is lower compared with the heightened cost of commodity inputs for other power assets.

“Although RE firms remain cautious about the time it may take for the current headwinds to settle, the longer-term opportunity behind the energy transition remains firmly in place — and only gets stronger as economics improve, demand accelerates, and policy support grows. As long-term investors in RE, using short-term disruption as an opportunity to buy is critical — especially given the underlying structural growth potential behind this particular investment space,” Mr. Arce said. — Bernadette Therese M. Gadon

Livestock insemination being promoted to Cagayan Valley LGUs

PHILIPPINE STAR/ ANDY ZAPATA JR.

DEPARTMENT of Agriculture (DA) officials in the Cagayan Valley said they are pushing artificial insemination (AI) to local government units (LGUs) as a means of expanding livestock production.

“Artificial insemination  of cattle represents the most successful sophisticated program of animal breeding ever implemented to improve the quality, productivity, and reproductive health of dairy cattle and other farm animals,” DA-Cagayan Valley Executive Director Narciso A. Edillo said.

“We are giving this a serious thought, including hog and poultry repopulation because Cagayan Valley is 98% sufficient for pork, 109% for chicken meat, 85% chicken egg, 212% for beef, 244% for carabeef, and 156% for chevon (goat meat),” he said.

Regional Livestock Program Coordinator Bryan S. Sibayan called AI a labor-intensive process that requires technical expertise.

“The overwhelming use of AI in many livestock species, most notably dairy cattle, swine, and carabao, suggests that the benefits of the technology outweigh the time and cost associated with it,” he added.

The DA said it is planning to promote AI to LGUs across the region.

“Significantly, many local chief executives are very interested in it. They initially inventoried the cow and carabao raisers, including small ruminants,” Regional Livestock Focal Person Demetrio D. Tang said.

The regional DA office has set a target of 320 inseminations for small ruminants and 3,680 for cattle.

It is also deploying AI technicians regionwide to assist with the project. — Luisa Maria Jacinta C. Jocson

How PSEi member stocks performed — August 12, 2022

Here’s a quick glance at how PSEi stocks fared on Friday, August 12, 2022.

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