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CIC streamlines registration process for database’s submitting entities

STATE-RUN Credit Information Corp. (CIC) has simplified its online registration process and lessened requirements for lenders under its new guidelines.

CIC issued Circular No. 02, series of 2021, laying out a simplified registration process for submitting entities requiring less documents and steps.

CIC President and CEO Ben Joshua A. Baltazar said in a statement that the country’s credit registry now has 606 submitting entities, while more than one thousand lending institutions currently registering with their database.

“We streamlined and simplified the entire registration process so we can stay true to our mandate of providing reliable and standardized information on the credit history of borrowers,” Mr. Baltazar said.

Under the new guidelines, entities are required to submit their Certificate of Registration, Articles of Incorporation or Articles of Cooperation, and their Secretary’s certificate.

Once verified and proven to be eligible, the lender will then receive a link to the CIC’s Online Submitting Entity Information Sheet (SEIS), which will generate the documents to be signed by their authorized representatives.

After this, the CIC will assign a provider code to the lender, along with credentials, to access the Covered Entity Portal where the submitting entity has to encode its batch operators or the persons assigned to submit data to the credit registry.

Mr. Baltazar said the new guidelines will cover new applicants, while registered submitting entities will just have to update their SEIS through the CIC Portal.

“Given all the new policies and reforms that the CIC is implementing including this streamlined online process of submission, the public can expect wider and more consistent credit reporting compliance from financial institutions which will result in improved data quality,” he said.

As of July, CIC houses the credit data of 28 million borrowers, equivalent to unique individuals with 97 million contract data. The bulk of the database or 72.4 million records were on installment transactions, followed by 23.3 million in credit card data and 1.2 million records of non-installment transactions.

Contributors to the database include universal and commercial banks, rural banks, thrift banks, credit card issuers, lending and financing companies, cooperatives and cooperative banks, microfinance institutions, savings and loans associations, insurance companies, as well as state-run public insurer Government Service Insurance System. — BML

CAMPI, TMA year-to-date sales grow by 46.1%

Chamber of Automotive Manufacturers of the Philippines, Inc. President Atty. Rommel Gutierrez — PHOTO FROM TOYOTA MOTOR PHILIPPINES

SEVEN MONTHS into the year, it appears that the auto industry is continuing to paint a picture of recovery from the woes of 2020. Based on consolidated reports from the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA), member companies mustered a year-to-date (YTD) sales total of 154,265 units — 46.1% higher versus the same stretch last year.

In July alone, 21,498 vehicles were sold — 4.7% higher than the 20,542 units delivered in the same month last year.

Leading the way is Toyota Motor Philippines Corp. (TMP), which accounted for half (50.07%) of total units moved in July. Its 10,763 total is 4.3% less than the 11,242 vehicles Toyota shipped in June. However, when compared to July 2020 sales (8,833 units), this figure represents 21.8% growth. YTD, the Japanese brand has sold 74,521 vehicles (48.31% of total CAMPI/TMA sales).

In second place for the month is Mitsubishi Motors Philippines Corp. (MMPC) with 2,646 units sold — down 9.8% compared to the previous month’s 2,933 total. The company cornered 12.31% of the market. MMPC’s YTD sales totaled 22,504 — 14.59% market share.

Third place goes to Suzuki Philippines, Inc. (SPH) with 1,648 vehicles sold, down 8.2% from 1,795 units moved last June. It attained a 7.67% share of the market. YTD, SPH has sold 11,635 units, or 7.54% of total sales. Ford Motor Company Philippines, Inc. (FMCPI) is in fourth place with July sales of 1,586 units, down from 1,616 units in June. Ford took a 7.38% slice of total sales for the month.

Finally, Nissan Philippines, Inc. (NPI) completes the top five with 1,362 units sold in July. Cornering a 6.33% share of CAMPI/TMA sales, this total is 12.1% lower than NPI’s June deliveries of 1,548 units.

In a release, CAMPI President Atty. Rommel Gutierrez said, “The industry welcomed the year-on-year growth of 4.7% but anticipates a decline in sales this month with the reimposition of ECQ in NCR, among other high-risk areas.”

Can luxury fashion brands ever really be inclusive?

MICHAEL LEE/UNSPLASH

LUXURY goods tend to be associated with exclusivity rather than inclusivity. But thanks to the universal scrutiny of social media and consumer activism, high-end brands are under increasing pressure to be seen as companies who care.

Some have spent large sums on initiatives which address environmental concerns, or used their expertise to help deal with the pandemic.

The Kering group (which owns Yves Saint Laurent and Alexander McQueen) has, for example, set a target to reduce greenhouse gas emissions by 50% by 2025.

In response to coronavirus disease 2019 (COVID-19), fashion house Burberry donated more than 100,000 pieces of PPE to the National Health Service and healthcare charities. Meanwhile, luxury firm LVMH used its perfume manufacturing facilities to make free hand sanitizer for the healthcare system in France.

Yet it remains unclear whether consumers can reconcile the exclusive nature of luxury brands — selling at prices many cannot afford — with a public image of sustainability and environmental or social awareness. A range of studies has shown that consumers are ambivalent about such efforts. Research into millennials’ attitudes showed that younger consumers even see the concepts of luxury and sustainability as contradictory.

This is understandable, for some brands’ apparent attempts to tackle societal challenges have come after they received widespread criticism for their own apparent failings.

Gucci for example, has a $1.5-million (£1 million) plan to support young designers from underrepresented backgrounds. But it was launched after the brand faced accusations of racism over a sweater design.

And while Prada has spoken out against racial injustice on social media, the company has also been forced to apologize for merchandise that was deemed racist. Dior, meanwhile, launched a message of support and solidarity accompanied with a black background. But again, it comes after allegations of cultural appropriation.

A New York Times report showed that among top designers and creative directors in the fashion world, only four are black. Models and photographers from diverse backgrounds are also severely underrepresented in the luxury fashion industry.

Designer Virgil Abloh, head of men’s fashion at Louis Vuitton, is one of the few black figures to have reached the summits of a luxury brand. He has commented: “Diversity isn’t just a question of gender and ethnicity. It’s a question of experience. It brings new ideas to the table. And it would be good if the fashion industry actually listened and took them on board.”

Against this complex backdrop, we asked members of the British public for their thoughts on inclusivity campaigns from luxury brands. Overall, consumers — particularly those on lower incomes — had a negative response.

The majority of the people we surveyed (87%) believe luxury brands would fare better at becoming more inclusive by focusing on fair pay and workers’ rights.

Efforts towards climate change initiatives were also popular (79%), as were work aimed at reducing racial and gender inequality.

Respondents also welcomed the idea of luxury brands selecting partners and suppliers in response to social and political situations. For instance, Burberry’s decision to boycott cotton from the Xinjiang region of China over alleged human right abuses.

Overall, our survey suggests that — despite some progress — much remains to be done by luxury brands. And the question remains over whether an industry which revels in exclusivity can embrace inclusivity in a way that drives real societal change?

As consumers increasingly demand transition towards an inclusive society, a unique window has opened for luxury brands to become better agents of social change by aligning their missions, values and strategies to social purpose. Luxury brands are in a key position to lead business action by leveraging their cultural authority.

They have an opportunity to use their influence and actions to advance public debate and accelerate behavioral change. If they don’t take it, any gestures towards inclusivity risk being seen as nothing more than an opportunistic exercise in public relations and image.

 

Paurav Shukla is a Professor of Marketing, University of Southampton, while Dina Khalifa is a Senior Research Associate, University of Cambridge.

Burry’s ‘Pretty Big Short’ hinges on Treasuries sinking

CALL IT the “Pretty Big Short.”

Michael Burry, whose huge, wildly profitable bets against the housing bubble were made famous in The Big Short, is wagering that long-term US Treasuries will fall.

His Scion Asset Management held $280 million of puts on the iShares 20+ Year Treasury Bond ETF at the end of June, according to a regulatory filing released this week, an increase from $172 million three months earlier.

The options contracts would make money if TLT, as the exchange-traded fund is known, falls as Treasury yields go up — something that hasn’t happened lately as fear of the delta variant drives investors into Treasuries.

But ahead of the Federal Reserve’s annual Jackson Hole symposium, many still suspect the central bank will be able to start tapering bond purchases later this year, which could prove the bears right.

Traders will be listening for hints from Chairman Jerome Powell on how much COVID-19’s resurgence is weighing on economic growth, and whether that sways when the Fed changes course.

“Every aspect of the economic data we look at, from the labor markets to inflation, are all tending to look pretty healthy,” which should cause yields to rise over coming months, said Guneet Dhingra, head of US interest-rate strategy at Morgan Stanley.

“And the Delta-variant fears have been priced into the market and may have already peaked. We are watching as a potential market mover off Jackson Hole whether Fed Chair Powell has updated his view on delta, after so far seeming not particularly worried about it.”

Minutes from the Fed’s last meeting showed most officials saw reducing monthly debt purchases starting later this year. Markets see Fed rate increases beginning in the first quarter of 2023.

The iShares ETF, which tracks Treasuries maturing in more than 20 years, has gained 12% since bottoming in March while 30-year yields have fallen to 1.87% from 2.51%.

Morgan Stanley strategist Matthew Hornbach, known for bold calls that have frequently panned out, told his clients this month that he remains confident in his recommendation to bet against 10-year Treasuries despite a swoon in yields.

The firm expects the yield to end the year at 1.8%, up from 1.26% currently, with the Fed announcing tapering in December.

It’s unknown whether Scion has shifted its positions since June. A call to Scion’s office in Saratoga, California, went unanswered Friday.

In a flurry of tweets in February, Mr. Burry warned that the economic reopening and economic stimulus would fan inflation, drawing a parallel between US policies today and Germany’s during hyperinflation in the 1920s — the sort of situation that could prompt the Fed to jack up rates.

Mr. Burry’s bearish bond bet is largely in line with the calls of most Wall Street strategists. The median forecast in a Bloomberg survey is for the 10-year yield end the year at 1.6%, with the most bullish and bearish estimates at 1% and 2%, respectively. — Bloomberg

MVP Group ramps up inoculation as more vaccines arrive

FREEPIK

COMPANIES led by Manuel V. Pangilinan (MVP) have inoculated more employees after the arrival of a fresh batch of vaccines amid the Delta variant of the coronavirus disease 2019 (COVID-19), the group said.

In a statement, the so-called “MVP Group” said the new batch of vaccines prompted the opening of its fourth mega vaccination site in the National Capital Region (NCR) — the Makati headquarters of Smart Communications, Inc.

Alfredo S. Panlilio, PLDT, Inc. and Smart Communications president and chief executive officer, described the vaccines’ arrival as a ray of hope.

“I believe that the sooner we get these vaccinations done, the more lives we will be able to save, and the quicker we can revive our economy and recover as a nation,” he said.

The MVP Group’s vaccine task force, which is chaired by Mr. Pangilinan, said the latest batch of vaccines puts it on course for inoculating all its people.

It previously announced that it ordered vaccines from Moderna and AstraZeneca enough for more than 300,000 employees, dependents and household members, and the group’s extended work force.

The activation of Smart Tower as a vaccination site was made possible with the help of the City Government of Makati.

With forthcoming regional vaccinations, the conglomerate’s vaccine task force is looking at a network of over 30 locations for inoculations nationwide.

The first arrival of company-procured Moderna vaccines end-June 2021 allowed the MVP Group to begin vaccinations of non-medical employees at pilot NCR megasites on the first week of July. Vaccination rates for pilot sites reached as much as 1,350 jabs per day.

The vaccination sites are manned mainly by frontliners from the MVP Group’s own Metro Pacific Hospitals Holdings, Inc. (MPHHI), the country’s largest private hospital chain.

Up to 98% of frontliners from MPHHI’s largest hospitals were vaccinated as early as March 2021, including those from Smart Tower’s healthcare partner, Makati Medical Center.

GAC Motor reveals new strategic push, readies to unveil 3 models soon

By Kap Maceda Aguila

GAC MOTOR Philippines recently revealed the Chinese automaker’s “Go And Change Campaign,” which reflects the brand’s “new strategic direction of focusing on the technology and improvement of its craftsmanship.” It also said it is set to launch two additional vehicle variants soon, along with an all-new vehicle line.

Via an online media round-table discussion, the local distributor of the GAC emphasized how the brand commits to giving customers an enjoyable riding experience while delivering lasting value through its vehicles. “GAC Motor will continue to utilize its supply chain and manufacturing strengths in creating world-class technology that will also be used in conducting highly advanced research.”

The “fastest-growing Chinese brand” has begun a high QDR (quality, durability, and reliability) push that, among other things, called for the establishment of four research and development (R&D) centers located in Silicon Valley, Los Angeles, Detroit, and Shanghai. “These R&D Centers are responsible for the choice of premium materials and the technology used in the manufacturing of GAC vehicles,” the company said. Other R&D centers in various locations around the world will be developing artificial intelligence systems; autonomous, hybrid, and pure electric vehicles — “fueling its strong push towards electrification as it laid out plans on developing a lineup of electrified vehicles in the coming years.”

Legado Motors, Inc., official distributor of the GAC in the country, introduced the brand late in 2018 with the simultaneous launch of the GA4, GA8, GS8, GS4, and GN8. According to GAC Motor Philippines President Wilbert Lim, the brand has had a number of milestones since. In 2018, GAC Motor Philippines became the official escort of 2018 Miss Universe Catriona Gray. Following the opening of its pioneer and flagship dealership in Metrowalk, Pasig, the company welcomed customers to its second dealership in San Fernando, Pampanga in February 2019.

That year, GAC Motor Philippines made its debut appearance at the 2019 Manila International Auto Show (MIAS) in World Trade Center. “The event served as a perfect platform to showcase our vehicle lineup, and made the Filipinos familiar with the brand,” said Mr. Lim.

In the middle of the year, GAC Motor started operating its third dealership — this one in Tarlac City — then in October launched the GS3 crossover, which now is its best-selling model.

The company has been kept busy in other areas. “To prove the durability and reliability of the GA4 sedan, GAC Motor Philippines joined the 2019 Petron Kalayaan Cup on June 12, and won its first Endurance race championship…. The GAC Motor Racing Team proved that the GA4 is not only reliable on road, but also on the racetrack by winning the Open Class B and Manufacturer’s Class in the 2019 Petron Bonifacio Cup Endurance Race on Nov. 30, 2019,” continued the executive.

Meanwhile, the fourth dealership (in Greenhills, San Juan, under RYO Motors) was opened last year in October.

Even amid the pandemic, GAC unveiled the all-new GN6 MPV last February this year, and attained honors at the 2021 Petron Kalayaan and Kagitingan Endurance Cup. Added Mr. Lim, “As a way to stay connected with our customers in this time of pandemic, we’ve revamped our website and launched the GAC Motor virtual showroom, offering all-in-one dealership service right at their fingertips.”

Meanwhile, GAC Motor Philippines Product Director Brennan Lim revealed that the company will soon reveal new variants of three models. “We will be launching the bulletproof GS8, new GS4, and the GN8 Master’s Edition,” he said.

GAC Motor Philippines also emphasized that its after-sales services are open even to other brands. “We don’t just provide our customers with quality vehicles, we also provide them with the best after-sales service for both GAC Motor and non-GAC Motor brands.” These services include: preventive maintenance, electric diagnostics, tune-up, recharging of freon, wheel alignment, tire mounting and installation, muffler and exhaust repair/installation, brake repair, change oil and other fluids, car wash, detailing, paint wash over, body repair & body collision estimate, and car disinfection. Insurance assistance and claim estimate services are also offered.

An ongoing nationwide promo is also serving up to P270,000 in discounts on all its vehicle models until Sept. 30.

PLDT group, Nokia seek to help build IoT-enabled industries

BW FILE PHOTO

SMART Communications, Inc. and the enterprise business arm of PLDT, Inc. have teamed up with multinational telecommunications company Nokia Corp. for an Internet-of-Things (IoT) platform aimed at accelerating the digital transformation of businesses in the country.

PLDT said in a statement e-mailed to reporters on Aug. 21 that PLDT Enterprise, Smart Communications and Nokia teamed up to introduce a powerful solution that will transform the way IoT applications are deployed and managed in the country.

It said the move is expected to allow businesses “to accelerate their digital transformation goals and provide next-level customer experience beyond just connectivity.”

“A first in the Philippines, the Smart IoT Platform, powered by Nokia’s Worldwide IoT Network Grid (WING) will further enhance businesses to have full real-time visibility and control to up to hundreds of thousands of connected devices,” it added.

The IoT platform allows businesses to “effectively oversee to automate the connectivity and usage” of their mobile assets. PLDT said the objectives are to ensure optimum performance and increase operational efficiency.

ePLDT President and Chief Executive Officer Juan Victor I. Hernandez said: “For PLDT-Smart, this is so much more than IoT, as it opens up a lot of possibilities that were previously only a dream.”

The PLDT-Nokia partnership this year is focused on seeking to help build IoT-enabled industries. They intend to provide business solutions for the efficient management of interconnected devices.

“We put this vision forward with the Philippines’ first localized IoT offer, and we believe that this will ultimately pave the way for the Philippines’ transformation to a nation of smart cities,” said Mr. Hernandez, who also serves as senior vice-president and head of PLDT and Smart Enterprise Business Groups.

For his part, Nokia Philippines Head Carlos Reyes said: “As a partner, we not only bring just a platform, but also the business experience we have around the world, providing technology and business solutions to help drive enterprise growth.”

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Arjay L. Balinbin

Jackie Chan ‘kicks’ off Shopee’s shopping season

CHINESE actor, cross-continental star, and martial artist Jackie Chan is now e-commerce platform Shopee’s newest endorser, specifically for the 9.9 (Sept. 9) campaign aimed to capture the holiday shoppers of the “-ber” months.

An online ad sees the martial arts star at the beginning of a fight before being interrupted by a Shopee sale announcement at which point everything gets an orange transformation (Shopee’s trademark color) and everyone starts to dance to the Shopee theme. Mr. Chan ends the ad with a few choice words in Filipino, inviting viewers to shop.

But his participation goes beyond a bit of song and dance.

In a press conference on Aug. 19 where Martin Yu, Director at Shopee Philippines, introduced Mr. Chan’s commercial for Shopee, Mr. Yu said, “You can expect a lot of fun in-app content featuring Jackie Chan starting today until Sept. 9.” Mr. Chan will be featured in some Shopee games, and also during a special Shopee Live on Sept. 9.

Mr. Yu also said that they have a K-pop performer on board for a future campaign and a Sept. 9 TV special, but, “I can’t spoil this one for you yet; you’ll have to wait for that one,” said Mr. Yu.

In a statement, Mr. Chan said, “I enjoy putting a smile on people’s faces. It’s exciting to partner with Shopee to celebrate the action-packed year-end festival and bring more joy to my fans and Shopee users. I had a lot of fun working with Shopee and I think people of all ages will enjoy the activities and content that we have prepared together. I hope everyone can join us to make the year-end shopping season a memorable one.”

DEALS AND DEVELOPMENTS
For 9.9, Shopee will have the following deals for its Filipino shoppers: a Daily P1 Deals microsite, a two-hour Midnight Mega Sale from midnight to 2 a.m. on Sept. 9, and greater rewards with ShopeePay (the e-commerce platform’s e-wallet). Specifically, users can use ShopeePay for online and offline purchases at branches of participating merchants nationwide. Until Sept. 8, shoppers can buy prepaid load and get ₱5 mobile data for only ₱1; pay utility bills and enjoy up to 50% cashback when they pay for Meralco, Maynilad, and other establishments; and scan to pay to score ShopeePay ₱1 Deals from Puregold, Seaoil, Potato Corner, and more.

Users can expect more deals from their favorite brands on Shopee’s dedicated in-app portal for authentic brands, Shopee Mall. During the 9.9 Super Shopping Day, shoppers can expect up to 30% off brand vouchers and up to 90% off on leading brands such as Abbott, Havaianas, Maybelline, Nestlé, Colgate-Palmolive, Breyleemall.ph, Del Monte, Unilever Beauty, Adidas, P&G Beauty, Enfagrow, Huawei, Vivo, Pampers, Realme, and Xiaomi. Viewers can also tune in to GMA 7 and Shopee Live on Sept. 9 for a chance to win millions worth of cash prizes and giveaways, including two house-and-lot packages.

Aside from the shopping extravaganza, Shoppee has been busy with some good works. Mr. Yu said that they partnered with the LGUs of Makati and Taguig, providing fans, snacks, and drinks in some vaccination sites, while partnerships with LGUs also resulted in having their Shopee Express riders vaccinated. A program for fully vaccinated customers has also been made available, offering deals and discounts if they sign up.

Mr. Yu also announced partnerships with the Department of Trade and Industry for things like Shopee Thursdays, talks that teach entrepreneurs to use data to operate efficiently in e-commerce. They also launched the second ASEAN online sale day in August (the first one being in May), also with the help of the DTI. Through the Pili Pinoy campaign, users can help preserve local culture and play their part in supporting the local economy by patronizing shops such as Abubot PH, Joy Marcelo RTW Clothing, Via Christi, Tazanna, and Tala by Kyla.

“Shopee’s mission is to support the local economy by connecting with MSMEs and consumers meaningfully,” said Mr. Yu.

For more information about 9.9 Super Shopping Day, go to https://shopee.ph/m/99. —  J.L. Garcia

Revival plans in the works for Mindanao paper, steel

THE OPERATION of PICOP is one of the undertakings of MinDA in reviving and rehabilitating industries in Mindanao. — NATHAN DUMLAO-UNSPLASH

THE MINDANAO Development Authority (MinDA) said it is planning to revive steel and pulp and paper mills in Mindanao.

MinDA Chairman Emmanuel F. Piñol said he will hold a virtual conference with officials of Bislig City, Surigao del Sur on Tuesday to find ways to restore to operations the paper mill of the Paper Industries Corp. of the Philippines (PICOP) there.

Mr. Piñol said the city government, led by Mayor Florencio C. Garay, will present options to rehabilitate the pulp and paper processing facility, which closed in 2006.

“The operation of PICOP is one of the undertakings of MinDA in reviving and rehabilitating industries in Mindanao which collapsed because of economic difficulties, mismanagement, ill-advised and abrupt privatization and corruption,” Mr. Piñol said in a social media post over the weekend.  

Mr. Piñol said PICOP operated the only fully integrated pulp and paper mill in Southeast Asia starting in 1963.

“However, PICOP’s productive years were beleaguered by both external and internal problems — natural calamities; national economic and political instability; high fuel costs in the international market; unfavorable national market conditions due to market globalization; subtle effects of full privatization; emergence of poachers, smugglers and other unscrupulous illegal log buyers within PICOP’s areas of concessions; and the legal and environmental constraints, affected PICOP’s operation, production, and financial standing that forced PICOP to shut down in 2006,” according to a study cited by Mr. Piñol conducted by Reynante B. Casiro and Emmalyn T. Catubig of Central Mindanao University.

Meanwhile, Mr. Piñol said the revival of the steel industry in Iligan City is also going to be the subject of exploratory talks with city officials.

“We will also engage the city government of Iligan to explore ways of reviving and rehabilitating this industry, which processed local mineral resources and scrap iron, provided jobs and propelled the economic growth of Mindanao,” Mr. Piñol said.

“The Iligan City Steel Mill is a story of economic difficulties and the apparent lack of resolve on the part of the National Government to support a local industry which could have greatly contributed to the economic growth of the country,” he added.  

Mr. Piñol recently announced that the Development Bank of the Philippines has confirmed its support for MinDA’s plan to revive the plywood and veneer industry with the use of fast-growing tree varieties.

He said MinDA hopes to conduct a virtual convention of tree farmers by the end of the month to organize the Mindanao Industrial Tree Farming Development Council. — Revin Mikhael D. Ochave

Isuzu Isabela reopens with brand’s new global design standard

PHOTO FROM ISUZU ISABELA

ISUZU PHILIPPINES Corp. (IPC) and BM Domingo Motor Sales, Inc. (BMD Motors) reopened Isuzu Isabela last Aug. 13. Coinciding with BMD Motors’ 44th anniversary as a franchisee of Isuzu trucks and vehicles, the reopening also marked the dealership’s adoption of the Isuzu Outlet Standard (IOS).

Isuzu Isabela is located at 349 Maharlika Highway, San Fermin, Cauayan, with the group, over the years, earning “a reputation as one of the brand’s most trusted partners and helped extensively expand its reach in the Cagayan Region and Central Luzon in the provinces of Nueva Ecija, Bulacan, and Tarlac.”

In a release, Isuzu Isabela said that customer satisfaction is at the heart of its operations through BMD Motors. In addition to this is an “openness to modernization and adaptability.” When Isuzu Iguig in Cagayan was established, work force was uprooted from Tuguegarao but still managed to become the first in the country to showcase the IOS design in October 2019. “Isuzu Iguig since then has lived up to being a responsible partner to its community by giving aid in COVID-19 relief operations and to date, joined by the just remodeled Isuzu Isabela, is in support of the brand’s transition to a more customer-centric philosophy,” the company continued.

Isuzu Iguig can be found along the National Highway of Barangay Sta.Teresa. Said Isuzu Isabela Branch Manager Maria Rizalina D. Mijares, “We at BMD Motor Sales, together with Isuzu Philippines, recognize the important role of showrooms in helping customers decide on possibly one of their biggest purchases in life. We must adapt to the changing times — new technology, new competition, new ways of doing business. That is why we make investments on current innovations that will better cater to the in-store needs of our clients as well as improve the work experience of our employees for years to come…. Equally important to sales is after-sales which is an intrinsic element in the industry. Therefore, expect our service reception, parts counters and workshops will also soon be completed.”

Isuzu Isabela’s new IOS showroom and service center have a total floor area of 2,854 sq.m., and also feature a mezzanine and a two-storey parts warehouse. One commercial vehicle and three light commercial vehicles can be displayed, while the workshop can accommodate up to 12 LCV units. A separate truck center, with a total floor area of 1,745 sq.m., could also be found as an extension of the main lot which has another showroom for two CVs and additional service bays for four LCVs and four CVs.

IPC President Hajime Koso said in his virtual greetings, “We are very proud of the BMD Group for continuing to capture the Cagayan Region market by providing not just good sales but excellent after-sales service that keeps our clients satisfied and loyal to the brand. IPC is confident that this new IOS design concept will bring not just more sales but, more importantly, elevate our clients’ experience resulting to utmost customer success.”

Emperador’s SGX dual listing plan piques investors

By Bernadette Therese M. Gadon

INVESTORS loaded up on Emperador, Inc. last week after it approved its dual listing plans in Singapore, overturning sell-off following its removal from the local benchmark index.

A total of 111.02 million Emperador shares worth P1.75 billion were traded from Aug. 16 to 20, data from the Philippine Stock Exchange (PSE) showed.

Shares in the Andrew L. Tan-led liquor firm surged by 37.7% week on week. Since the start of the year, Emperador stocks have jumped by 65.4%.

The company’s planned listing on the Singapore bourse as well its dropping out of the 30-member PSE index (PSEi) catapulted its price last week, analysts said.

The Singapore listing may boost institutional interest, investor coverage, and liquidity into Emperador, said Zoren Philip A. Musngi, research associate at China Bank Securities Corp.

“Its potential listing may also help boost company fundamentals, in terms of building brand awareness in the international market,” he said in an e-mail interview on Friday.

“Another factor in its performance [last] week was the conclusion of the PSEi rebalancing which helped relieve selling pressure in EMP after it was removed from the index,” he added, referring to the ticker symbol of Emperador.

Diversified Securities, Inc. Equity Trader Aniceto K. Pangan said Emperador’s planned Singapore listing was the main catalyst that pushed its price higher last week aside from its oversold condition following PSEi exclusion this month.

“Emperador will continue to correct in the near [term] as it is on overbought status. Thereafter, it may go on consolidation and may move up in price if the listing at SGX materializes,” he said in a text message.

On Wednesday, the company disclosed to the local bourse that it would pursue a secondary listing by way of introduction on the main board of the Singapore Exchange (SGX).

Emperador’s board of directors has authorized the company’s management to deliver necessary requirements for the SGX secondary listing “as soon as practicable.”

The company also said that it would keep its primary listing in the local bourse together with its planned listing in Singapore, subject to the regulatory approval.

Emperador was exploring a secondary listing to the city-state that could raise as much as S$1 billion (roughly P37 billion) and seen to take place as soon as the end of the year, Bloomberg reported in July.

Secondary listing — a listing in another stock exchange aside from a stock’s primary listing — is an opportunity companies use to widen their public profile as well as improve their share liquidity by tapping both exchanges for capital-raising activities.

Meanwhile, effective on Aug. 16, Emperador and DMCI Holdings, Inc. were removed from the local 30-member benchmark index. AC Energy Corp. and Converge ICT Solutions, Inc. replaced them in the index.

Emperador has an international reach across more than 100 countries and is known for manufacturing, bottling, and distributing brandy and scotch whisky brands such as “Emperador Brandy,” “Andy Player Whisky,” “Smirnoff Mule,” “The Dalmore Single Highland Malt Scotch Whisky,” and “Whyte & Mackay Blended Scotch Whisky,” among others.

It owns the United Kingdom-based Whyte and Mackay Group Ltd.; Spain-based Bodegas Fundador S.L.U. of “Fundador” brand fame; and has a 50% stake in Mexico-based Domecq Bodega Las Copas S.L.

For the six months to June, Emperador’s revenue rose by 52.8% year on year to P5.08 billion thanks to easing movement restrictions across the globe. Its attributable net income likewise grew by 17.6% to P25.33 billion from a year ago.

“[Emperador’s] revenue as well as income would continue to grow going to the end of the year,” Mr. Pangan said.

He expects Emperador to finish the year with revenues totaling at P60 billion, a nearly 14% increase from P52.83 billion last year, while net income could reach P12 billion, a 50% jump from an attributable net income of P7.97 billion in 2020.

Mr. Pangan pegged the company’s immediate support and resistance levels at P16.30 and P17.80, respectively.

China Bank Securities’ Mr. Musngi expects Emperador’s revenue this year to be driven by strong demand for its products internationally, citing resumption on demand from developed economies due to easing restrictions amid rising vaccination rates.

Meanwhile, he sees investors pocketing gains this week, with the distilled spirits and alcoholic beverage company potentially establishing a base between P15 and P17.

“We expect EMP to pull back following its 37.7% rise [last week]… Given prevailing technical indicators, we may see EMP sustaining uptrend through the end of the year as contingent on improving earnings and fund flows relating to its planned dual listing,” Mr. Musngi said.

“However, this may come with a healthy consolidative phase over the next few months after its strong rise since mid-June,” he added.

He placed his “near-term” resistance level for Emperador at P18.00, while support at P14.10.

Style (08/23/21)

BERNARDAUD Constance Rouge Dinnerplate

Rustan’s World of Home sale

RUSTAN’S World of Home sale is a month-long celebration, with discounts and more from a variety of home appliances, décor and accents from the Home Department of Rustan’s. Check out the home appliances with brands like Monarc, Philips, Russell Hobbs, Dyson, Kitchenaid and Tefal. Enjoy up to 20% off on selected items, which can also be purchased through 0% installment plan of 3 to 12 months. Purchase Trusens air purifiers at 10% off until Aug. 31. Rustan’s Home brands are at 30% off on selected items featuring Conair, Cuisinart, Gaggia, Gorenje and Maximus. Meanwhile, Tefal extends its 50% off promo on selected items until Dec. 31. When it comes to the living room, there are discounts of up to 20% on regular-tagged items from Crystalite Bohemia, Dome Deco, Franz, Goebel, Light & Living, Sagebrook Home, Zecchin, Moroccan and Italian décor brands until Sept. 30. Get an additional x10 FSP points when you purchase Christofle items on Aug. 28 to 30. Kitchenware and tabletop accessories will see discounts of up to 20% on selected items from Schott Zwiesel and 30% on selected items from WMF Flatware, Beka, and Tramontina cookware and tools. Exclusive to Frequent Shoppers Plus, select table linen items from Amber & Anne and all SIP eco-friendly utensils are on 10% off. Items from Kitchencraft, Lacor, Nerthus, Pedrini, and Polder, and pieces from Lenox, Cristina Re, Herdmar and Luigi Bormioli are allowing FSP members to earn x5 FSP points. Claytan and Wilmax is also offering 10% off on all items until Aug. 31. Receive x10 FSP points when purchasing items from EME Posaterie on Sept. 4 and 5. Get a 10% discount on Easy Flow kit and accessories and GreenBox facemasks, plus get x5 FSP points on Fine Guard masks. Bed and bath products from brands like Greenington, Malouf, Slumberland, Linen and Homes, and Joseph Joseph can be had for a 20% discount on selected items. Get up to 30% discount on selected items from Kimmi Dolls. Relax and unwind with Esteban and Voluspa candles and diffusers, which lets the buyer earn x5 FSP points. Support local products as Rustan’s offers x10 FSP points on selected regular items until Aug. 31 from Rustan’s Filipiniana Our Very Own. Enjoy the aroma and taste the blends of specialty coffee with 10% discount on Gourmet Farms products. Shop curated Filipino-made pieces with a selection of clothes from Mithi and enjoy a 15% discount. Rustan’s is extending discounts for Home Appliances brands with up to P4,000 cash discount on selected items of Breville until Sept. 30. Before the year ends, buy Dyson products with three months 0% installment plans on selected items; get a 40% discount on select Russel Hobbs appliances; and get a 25% discount on selected Karcher items.

Lexus, Salehe Bembury collaborate on apparel collection

LUXURY automaker Lexus and designer Salehe Bembury have collaborated on a capsule collection that uses hand-applied dyes on Champion pieces. For this partnership, Mr. Bembury approached Lexus’ push towards the electrification of its vehicle lineup through his own lens, while bringing in graphic elements derived from the overall partnership and the Lexus NX vehicle. The Lexus x Salehe Bembury collection includes three unisex items: a hoodie, T-shirt, and hat. The designs themselves were created by merging recognizable elements of Mr. Bembury’s body of work, such as his logo and signature fingerprint, with graphic elements derived from the Lexus brand and its NX vehicle. Graphic accents on the back frame the word “electrified” and were based on the Lexus NX’s taillights. Lexus and Mr. Bembury identified Champion Reverse Weave as the best apparel silhouette for storytelling and took a deliberate approach with details that would amplify the collection’s narrative. For example, incorporation of reflective ink represents the idea of electrification and is used on both the T-shirt and hoodie. The collection is now available exclusively at HBX.com.

Keds animal print collection

THERE’S no other trend that transcends seasons quite like animal print, adding oomph to any outfit. Keds’ new collection is a feminine take on this ferocious trend. The Crew Kick Alto is the centerpiece of this collection. With leopard spots adorning its heel tab and sporting a glittering gold wave logo on the upper, this fresh take on Keds’ signature sporty silhouette gives much needed height and flair to any outfit. Meanwhile, the Keds K-89 sneaker is now available in two plush leather colorways, the white version sports gold accents and a sleek python print detailing on the cuff while the black version features a suede upper with patent leather finishes. Both styles feature cushioned inners and a high-key ’80s-inspired rubber outsole. Keds offers a feminine take on tiger stripes and leopard spots with its most iconic silhouette, the Champion sneaker, which sports all-over printed canvas uppers. Finally, the classic Kickstart in soft, white leather and gold hardware might not exactly be spotted or striped like the rest of the collection, but is versatile enough for any occasion.

Robinsons Place Naga gets re-imagined through Minecraft

CHALLENGED by the complexity of Robinsons Place Naga’s structure, 18-year-old Joseph Julianne Stefano B. Abella from Goa, Camariñes Sur made a version of it using Minecraft. He was challenged in creating Robinsons Place Naga given the exterior’s intricate details — the same reason as to why he chose to do this. It took him four weeks to finish. While he was actually planning to post the interiors as well, but he found it difficult in terms of the details and design. What he wanted the most to create is the Pili Nuts designed-wall inside the mall. Becoming aware of the Minecraft version of Robinsons Place Naga, Robinsons Malls have given Mr. Abella a token of appreciation: a P10,000 Robinsons Malls voucher in which he spent with his mother. From Aug. 27 to 31, Robinsons Place Naga will host an art exhibit showcasing Mr. Abella’s artwork in a gesture of appreciation. The exhibit will be held at the Atrium Area of Robinsons Place Naga.

NIVEA’s product for deeply-moisturized skin

THE NIVEA Intensive Moisture Milk levels up one’s lotion routine by helping achieve intensely soft and smooth skin through a range of vitamins, nutrients, and essences that deeply moisturize and repair. Vitamin E and Avocado Skin Nutrients provide 48-hour moisture from a single application. Vitamin E is a known moisture booster, often recommended for dry and patchy skin. Meanwhile, Avocado Skin Nutrients give several benefits to increasing the quality and health of one’s skin: it moisturizes, hydrates, and nourishes; it softens the skin; its anti-oxidant properties repair skin; it makes skin supple; it plumps up the skin, making it look less wrinkly and more filled-in, revitalizing tired, old-looking skin. The NIVEA Intensive Moisture Milk also contains Deep Moisture Essence, combining HydraIQ and Glycerin to nourish and reduce the roughness of dry skin. The NIVEA Intensive Moisture Milk comes in four sizes: 75ml (P89), 125ml (P119), 250ml (P209) and 400ml (P309), and is available at Robinsons Supermarket, other leading supermarkets nationwide and in all major e-commerce platforms.

Doggo offers top-tier products for dogs

WITH the collective transition to staying at home over the past year, attention has turned to creating a happy home life for our families, including our pets. Locally owned dog brand Doggo is built on this premise, having been launched right on the cusp of the pandemic. Doggo offers a full range of quality products from dog treats to accessories and grooming essentials for dog care, all chosen and sourced from abroad. Established in 2019 as a digital-ready brand in an industry that heavily relied on physical selling, Doggo was born prepared to navigate the major economic adjustments that were to come, growing exponentially by selling on e-commerce platforms. The brand has since been in the Top 5 brands on e-commerce sites in the country and won the 2020 Winning Circle Award for Pet Supplies from Lazada. Doggo caters all dog needs, including treats for dogs of all sizes and ages, accessories such as leashes, bowls and diners, pet toys, and grooming items such as shampoos, brushes, and combs. Doggo is available online on Shopee, Lazada, GrabMart, and Pet Express.

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