Filipino lifestyle shopping (and more) platform launched

August 9, 2021 | 12:03 am

A NEW e-commerce platform launched on July 31 focuses on the Filipino through a shopping experience, but also through entertainment, travel, and lifestyle options.

Go Shopping Philippines was founded by entrepreneur Neil La-as, who has a background in immigration business development and real estate. He was quite impassioned during a press conference late last month, describing the reasons why he founded Go Shopping Philippines (GSP). “For so long a time, our country has been governed by international or foreign-owned e-commerce sites. These are the giants of the industry,” he said. “It’s going to be the first Filipino-owned corporation offering a huge e-commerce business.”

Edith Sola, Director of Strategy and Communications, emphasizes the Filipino ownership of the company. “We cannot give you all our shareholders’ names here. But you see the team in front of you right now.” she said during the press conference. “We do not have any foreign investment in GSP. This is an all-Filipino app. We would like to compete globally, when the time comes, as a Filipino brand.”

Also the owner of a skincare brand (Bakku2Basik Skin), Mr. La-as said that one of the reasons why he founded the platform was because of negative experiences within other shopping platforms. “I was once a seller on their platforms. I could tell you, there is no protection inside the platform.” He mentioned “bogus” buyers and sellers and the proliferation of fakes as part of his experience. Because of this, GSP has stricter policies when it comes to vetting both sellers and buyers. “GSP talks to direct owners; we’re not meddling with third parties or suppliers… we make sure that they comply with the requirements needed to ensure their legitimacy and the authenticity of their products.” These include presenting Food and Drug Administration (FDA) certifications, business concept, product listings, and business permits.

On another note, the platform places an emphasis on local Small to Medium Enterprises (SMEs) specifically with the platform’s Go National component. On the buyers’ side, they will have to prove their identity by submitting IDs and consenting to a call confirming their identity.

Mr. La-as emphasizes the many ways one can use the app. Aside from its 12 shopping zones (categories: Fashion Hall, Food and Beverages, Beauty and Wellness, Specialty Store, Home Store, Sports and Lifestyle, Electronics and Gadgets, E-Services, Department Store, Pharmacy, Supermarket, and Hardware), it will also offer streaming services through Go Cineplex, GFlix, and Go Live! Mr. La-as said that they have also planned programs on their streaming channels for lifestyle and travel, and news and current affairs.

According to him, GSP will have programs developed in cooperation with the Department of Education and the Philippine Drug Enforcement Agency, and other government agencies “who would like to give vital information to the public.”

“GSP is not just going to be a shopping and retail [experience]. It’s going to be for your information and for public advisory, and so on,” he said.

The app is available for download on the App Store and Google Play Store.

S-Presso Club formally accredited by Suzuki Philippines

August 9, 2021 | 12:02 am

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SUZUKI PHILIPPINES, INC. (SPH) officially welcomed the Suzuki S-Presso Club of the Philippines (SSCP) last Aug. 5 through a recognition event held online. The activity was attended by members of the SPH team and the SSCP.

SPH Automobile Division Vice-President and General Manager Keiichi Suzuki led representatives of the company, including members of the marketing team. The Suzuki S-Presso Car Club was headed by its president, Jasper Jerome Handog.

The Suzuki S-Presso was launched in March 2020 and was warmly received by the market with 3,897 sold units as of July this year. On July 12, the SSPC was established with only four members. Today, it boasts 616 members, with two active chapters in Bicol and Cavite. The club was created with the aim of providing special perks for members, local partner businesses and/or car dealerships, while in turn, promoting Suzuki’s popular and unique compact hatchback.

Said Mr. Suzuki, “As we are truly delighted to officially have the Suzuki S-Presso Club (members) on board as our brand ambassadors, I am very much amazed as to how we continuously expand and grow the Suzuki family over the years. Together, as one family, we will continue to find avenues to champion the ‘Suzuki way of life!’”

A Certificate of Recognition was awarded to SSCP during the virtual recognition event, with SPH promising additional support to the club’s future plans, including continuous support for SSCP events and activities, annual Christmas party events, digital promotions, and service referrals to Suzuki dealerships. Additionally, SSCP members were able to enjoy Japanese food together with the SPH Marketing team and Suzuki merchandise sent to them during the event in lieu of the usual get-together.

For daily updates on Suzuki, like the Suzuki Auto Ph Facebook page at https://www.facebook.com/SuzukiAutoPh and follow on twitter at https://twitter.com/SuzukiAutoPH and Instagram at @suzukiautoph.

Retail coffee prices to climb as frost and freight costs bite

August 9, 2021 | 12:02 am

LONDON — The most devastating frost in decades in top coffee producer Brazil and record freight costs sparked by COVID-19 causing massive shipping logjams are expected to push retail prices to multi-year highs in the coming weeks.

A hike in coffee prices will further raise the cost of a basket of shopping following increases for other items such as bread, vegetable oils and sugar. The United Nations food agency’s index of world food prices for July showed a year-on-year rise of 31% at a time when many consumers are struggling financially due to the pandemic.

The worst cold snap in Brazil since 1994 sent the price of green coffee beans to the highest level in almost seven years and is expected to pass through to consumers when they purchase roasted beans or ground coffee in supermarkets.

Arabica coffee on the ICE Futures US exchange has doubled in price over the last 12 months with crops in Brazil already wilting after the worst dry spell in 91 years.

The extent of the damage is still being assessed but in areas where coffee trees have not survived it may take up to seven years for production to fully recover.

Shipping disruptions, caused partly by a surge in demand for consumer goods and not enough ships as people stayed home due to the global coronavirus pandemic, has also led to a sharp rise in the cost of transporting beans to major consuming countries in North America and Europe.

Traders believe while consumers will soon have to pay more to purchase coffee from supermarkets, the cost of a latte or Americano at high street coffee chains may not follow suit in the short term.

“Roast and ground (coffee in supermarkets) has only coffee and a bit of packaging. Your coffee at Starbucks might not go up (as much) cause you pay more for the shop, the WiFi, the experience,” he added.

Data issued by the US Bureau of Labor Statistics show average ground coffee prices rose to a peak of $4.75 per lb in April, up 8.1% from a year earlier and the highest level since July 2015, as drought took an initial toll on Brazil’s crops.

The rise in arabica coffee prices on the ICE Futures US exchange accelerated rapidly, however, after the recent frost and retail prices appear certain to increase in response. In Brazil, the world’s number two consuming nation after the United States, roast and ground coffee prices increased 3.4% in June, according to statistics office IBGE.

They are set to rise further. After the July frosts, Brazil’s coffee industry group Abic told roasters to analyze their costs and adjust prices accordingly, to preserve the sustainability of their businesses.

Abic estimates that green coffee prices for roasters in Brazil increased around 80% from December to late July.

“Some companies, including market leaders, have already announced price increases,” Abic said in a letter to associated roasters seen by Reuters.

JDE Peet’s, whose brands include Douwe Egberts, Kenco and Peet’s, noted that there had been a sharp rise in ingredient, freight and other costs in the last 12 months.

“Historically, significant fluctuations in green coffee prices have been reflected in the market (retail prices) and we expect that precedent to continue,” the company said.

TRANSPORT COSTS
The rise in transport costs, linked to a shortage of shipping containers, could play a major role in driving up prices. Coffee is normally shipped in containers, in contrast to commodities such as grains which are transported in bulk carriers.

Many coffee companies find it easier to withstand a rise in the cost of beans, at least in the short term, than increasing shipping costs as they often fix the price of their purchases several months in advance.

“We have hedging here in place for a good percentage of our coffee needs for the rest of this year and even for part of next year so I’m not short-term worried about that,” Nestlé Chief Executive Mark Schneider said during a recent conference call, adding this was not the case with transportation costs.

Carlos Santana, coffee head trader for Eisa Interagricola, a unit of ECOM Trading, said it was very challenging to ship coffee, particularly in the Americas.

“It is almost not economical to use this route right now. The ports in the US are full, shipping companies do not want to take more cargoes to there, so they charge more. Prices are more than three times higher than they were before the pandemic,” he said.

Thiago Cazarini, a coffee broker in Brazil’s Minas Gerais state, said that even paying up the much higher prices to secure a container, exporters are having problems trying to load them into the ships.

He said the problem is widespread, impacting all players.

“Brazil is such a mess logistically right now. I have coffees that were supposed to arrive two months ago and I haven’t got them yet,” one US coffee importer said.

Julian Thomas, managing director of Maersk Brazil, part of the world’s biggest container shipping line, said the “current bottlenecks from measures to contain the pandemic and a strong demand are also impacting supply chains in and out of Brazil.”

“We are still servicing our customers and can attend to their growing demand,” he told Reuters.

German container shipper Hapag Lloyd added that there were delays for shipping goods, “but not only coffee.”

Brazil accounts for an estimated 30% of global exports and its peak shipment season has already kicked off. — Reuters

REITs remain attractive due to dividend — analysts

August 9, 2021 | 12:02 am

DESPITE concerns over the Delta variant of the coronavirus disease 2019 (COVID-19), analysts said real estate investment trusts (REITs) remain attractive because of their guaranteed dividend.

Measures taken up by the government, such as implementing lockdowns and continuing its vaccination drive will help drive market interest.

Last week, Del Monte Pacific Ltd. announced the deferment of the P44-billion initial public offering (IPO) of subsidiary Del Monte Philippines, Inc. (DMPI) due to “volatile market conditions” brought by the recent surge in COVID-19 infections.

“The postponement of DMPI’s listing definitely has to do with investor appetite. We have seen mammoth IPOs one after the other and liquidity may be tapped out as of the moment,” AAA Southeast Equities, Inc. Research Head Christopher John Mangun said in an e-mail on Friday.

DMPI’s IPO plan in 2018 was also shelved due to market conditions.

“DMPI has been patient as it wants to get the best valuation, which is understandable,” Mr. Mangun said.

The company’s decision to temporarily stay on the sidelines and delay its listing on the Philippine Stock Exchange (PSE) could make REIT firms reassess their listing schedules, analysts said. However, the guaranteed dividend yield of REITs will still make its offers attractive to investors, they added.

Filinvest Land, Inc.’s unit Filinvest REIT Corp. (FILREIT) is slated to make its debut at the PSE on Thursday, Aug. 12. The company is expecting to raise up to P12.6 billion from the offer.

FILREIT’s initial portfolio has 17 building, 16 of which are located in Filinvest City in Alabang and one Cebu-based office tower with a retail component. The company said around 88% of its tenants are business process outsourcing (BPO) firms. It is banking on “millennial and retail investors” as well as “investors tracking sustainability initiatives” for the success of its listing.

Meanwhile, two more REIT companies separately sponsored by Megaworld Corp. and Robinsons Land Corp. are also preparing to conduct their respective IPOs later this month.

Megaworld’s MREIT, Inc. plans to list at the PSE on Sept. 6, with an offer period for its P27.3-billion IPO expected to run from Aug. 23 to 27. It has 10 office, retail, and hotel assets in its initial REIT portfolio, most of which are also occupied by BPO companies.

Robinsons Land’s RL Commercial REIT, Inc. (RCR), on the other hand, is targeting a PSE debut on Sept. 20. It plans to conduct its P26.7-billion IPO from Aug. 31 to Sept. 8. RCR’s initial portfolio includes 14 real estate assets, with the BPO industry also “the core of RCR’s tenant base.”

“As long as their offer quality and yield [are] good, I think the market may want to take a look and a test,” COL Financial Group, Inc. Chief Technical Analyst Juanis G. Barredo said in a separate Viber message on Friday.

“If their offer is just at par with the rest or lower, the market may opt to stay defensive and not take the chance on heavy involvement,” he added.

With the reimposition of lockdown restrictions, the demand for office spaces is also expected to slow down.

“The immediate term may see some real estate commitments deferred later this year or early next year which would keep vacancy levels elevated in Metro Manila,” JLL Philippines Head of Research and Consultancy Janlo de los Reyes said in an e-mail on Friday, adding that the vacancy level in the first half of the year stood at 16%.

Mr. de los Reyes added that there might be changes in headline rental income in some offices with high vacancies as well as changes in terms granted by landlords to tenants.

“The REIT market is not exempt from downside risks from the pandemic, but this is mitigated by secured long-term leases to protect rental stream, profile of tenants where flight and exit risk is minimized, and portfolio diversification where we’re seeing the introduction of industrial assets under existing and planned REIT vehicles,” he added.

For the country’s pioneer REIT firm, AREIT, Inc., the company said it is not expecting to be impacted by the lockdown as it expects its business locators to keep operating.

It noted that while an industry-wide vacancy is expected to increase by 12% to 15% by the end of the year due to closures of Philippine offshore gaming operators (POGO), AREIT will not be affected.

“We don’t expect AREIT to be directly impacted because AREIT has no POGO tenants,” AREIT, Inc. President and Chief Executive Officer Carol T. Mills said in an e-mail on Friday. “AREIT buildings are also 99% leased on a long-term basis and we do not have major expirations in the next two to three years.”

“Delta variant spread and resulting lockdown are dampeners to sentiment, but the fact that foreign buying was evident when the PSEi (Philippine Stock Exchange index) touched the 6,100-6,200 areas indicates that valuation is a key attraction to funds wanting to diversify away from the more expensive markets like the US,” First Metro Investment Corp. Head of Research Cristina S. Ulang said in a Viber message on Friday.

Analysts said investors should still look at these “short-term bursts of weakness” as an opportunity to collect stocks at a discount.

“When we went into the first lockdown in March 2020, the market did go up quite a bit after acclimatizing with the realities of COVID-19 — something we may have to build into our lives as it becomes endemic,” COL Financial’s Mr. Barredo said. — Keren Concepcion G. Valmonte

If you’re shopping for a new swimsuit, try a recycled one

August 9, 2021 | 12:02 am

thought-catalog-P7SV0QSCbGU-unsplash — THOUGHT CATALOG UNSPLASH

By Margaret Rhodes

IN THE FIRST half of the year, before the specter of the Delta variant arose, consumers were in a liberated mood. Along with airline tickets and high heels, swimsuits became must-haves for shoppers eager to escape quarantine. Globally, consumers spent $2.7 billion on swimwear in the first half of 2021 — a 19% jump from the same period in 2019, according to industry analysts at NPD Group.

For decades now, most swimsuits have been made with Spandex, which was invented by materials scientists at DuPont in 1959 as a lighter, more breathable alternative to rubber. The petroleum-based material quickly became standard in the apparel industry, and in 1972, Speedo became the first company to sell Spandex swimwear. As of 2017, polyester and Spandex make up about 65% of the fabrics used in the swimwear market, according to Allied Market Research.

As new bikinis, one-pieces, and briefs rotate into people’s wardrobes, the worn-out ones typically wind up in landfills. “Spandex is a very difficult material to recycle,” says Shannon Bergstrom, sustainability brand manager at Recycle Track Systems. The synthetic fibers are too short for mechanical processes to sort, and no effective chemical methods yet exist to recover the used material. Consumers can always donate or resell used suits, but there’s no guarantee anyone will buy them, even if they’re new with tags. “I’m hopeful that companies will pick up the bill to create solutions,” Ms. Bergstrom adds.

Some are trying. The Lycra Company’s EcoMade line includes fibers drawn from pre-consumer Spandex scraps as well as blends of recycled polyethylene terephthalate, a common plastic. Speedo sells souped-up performance suits in chlorine-resistant Spandex and Lycra’s Xtra Life fiber, which promises to last longer than conventional fibers, thereby creating less waste. Perhaps the most popular among boutique and fashion-oriented swimwear lines is Econyl, made by the decade-old Aquafil, which recovers fishing nets from oceans and industrial carpets from landfills to spin into yarn.

“Swimwear is our biggest challenge,” says Dana Davis, head of sustainability at the eco-conscious brand Mara Hoffman. The company designs its suits with Econyl and Repreve, a performance fiber made from recycled materials such as plastic bottles, and will soon work with another recycled nylon called Q-Nova. “We’re not taking virgin fossil fuels,” Davis says, “but let’s be honest, this isn’t the end all be all. There’s no way to take a swimsuit and recycle it into another swimsuit.” Plus, Davis points out, these recycled plastic suits release microplastics into the water supply just like brand new Spandex.

The brands using Econyl and Repreve hope those products’ parent companies figure out how the materials can be further reused, and soon. “We’re e-mailing them quite often to find out when we can recycle these materials,” says Abigail Lorick, creative director at sustainable swimwear line Ansea. “Our big goal for 2021 is to figure out how we can start taking back end-of-life swimwear.” — Bloomberg

Yields on gov’t debt fall

August 9, 2021 | 12:01 am

YIELDS ON government securities (GS) at the secondary market went down last week following the release of July inflation data and the government’s reimposition of strict lockdown measures in Metro Manila and nearby provinces.

GS yields, which move opposite to prices, fell by an average of 5 basis points (bps) week on week, based on the PHP Bloomberg Valuation Service Reference Rates as of Aug. 6 published on the Philippine Dealing System’s website.

At the short end of the curve, yields on the 91- and 182-day Treasury bills (T-bills) slipped by 1.8 bps and 3.33 bps, to 1.1112% and 1.3960%, respectively. On the other hand, the rate of the 364-day paper inched up by 0.58 bp to 1.6419%.

At the belly, the rates of the two-, three-, four-, five-, and seven-year Treasury bonds (T-bonds) fell by 8.23 bps (1.8871%), 11.86 bps (2.2136%), 13.81 bps (2.5322%), 13.72 bps (2.8553%), and 6.28 bps (3.4364%), respectively.

Rates of the long-dated papers climbed, with yields on the 10-, 20-, and 25-year T-bonds rising by 0.85 bp (3.888%), 1.58 bps (4.7773%), and 1.06 bps (4.7585%), respectively.

“Local GS yields dropped, led by strong buying interest on the short and belly end of the curve, on the back of easing inflation expectations onshore after the release of July CPI (consumer price index) print,” a bond trader said via Viber message.

“The drop in local bond yields was also due to the re-imposition of the strictest lockdown measure in Metro Manila from Aug. 6 to 20 to stem the spread of the Delta variant, thereby prompting market players to reassess their bets of a strong economic recovery for the year,” the trader said.

The bond trader added that the Bangko Sentral ng Pilipinas’ (BSP) hints of a possible cut in banks’ reserve requirement ratio was the “icing on the cake.”

“[Last week’s performance] was primarily driven by inflation and the launching of ECQ (enhanced community quarantine), which is expected to dampen economic growth, depending on how long the ECQ will last,” Security Bank Corp. Chief Investment Officer for Trust and Asset Management Group Noel S. Reyes said in a phone interview.

Metro Manila and its nearby provinces are under ECQ from Aug. 6-20 to help curb a surge in COVID-19 cases due to the more transmissible Delta variant.

Meanwhile, the BSP said lowering the reserve requirement ratio (RRR) remains “on the table,” Bloomberg reported on Wednesday.

The reserve requirement for big banks is currently at 12%, still one of the highest in the region. The central bank last cut big banks’ RRR in April 2020 with a 200-bp reduction.

In July 2020, it likewise slashed the reserve requirements of thrift and rural banks by 100 bps to 3% and 2%, respectively.

The BSP’s Monetary Board will have its next policy-setting meeting on Thursday. However, it has adjusted its RRR outside these meetings in the past.

On the other hand, headline inflation eased to a seven-month low of 4% in July, the Philippine Statistics Authority reported on Thursday. This marked the first time since December 2020 that it settled within the BSP’s 2-4% target.

The July result brought year-to-date inflation to 4.4%, still above this year’s target and the central bank’s 4% forecast for this year.

For this week, yield movements will be driven by auctions of government securities as well as the release of data on the economy’s performance in the second quarter.

“We will start the week with the T-bill auction, which will guide direction for yields on the short dates [before] moving on to the seven-year auction and second-quarter Philippine GDP (gross domestic product) print [on Tuesday], which will dictate yield direction for the rest of the curve. Market will also be vigilant and will watch for clues for Thursday’s Monetary Board meeting,” the bond trader said.

The Treasury will auction off P15 billion in T-bills today and P35 billion in fresh seven-year T-bonds tomorrow.

Meanwhile, Security Bank’s Mr. Reyes expects yields to move sideways for the entire duration of the two-week ECQ due to the “ghost month.”

The ghost month is a period in the Lunar calendar when some Asian investors refrain from doing big investments or decisions that coincides with the vacation of fund managers in the West, thereby resulting in lower trading volumes. For this year, it starts on Aug. 8 and ends on Sept. 6. — B.T.M. Gadon

The Argentine river that carries soybeans to the world is drying up

August 9, 2021 | 12:01 am

SNAKING its way through thousands of miles of South American rainforest and pampas and past sprawling soybean and corn farms, the Parana River is the main thoroughfare for Argentine commerce. Some 80% of the country’s crop exports flow through its muddy waters en route to the Atlantic Ocean.

So when the river’s levels fell to the lowest since the 1940s — the result of years of scorching drought that scientists attribute to climate change — it deepened the strains on an economy that was already struggling to recover from its pandemic collapse.

Grains traders suddenly found themselves forced to scale back how much they pile onto cargo ships, afraid to get them stuck in the river’s shallow banks, and then either add to their load once they reach deeper sea ports or contract out more vessels. Both are expensive, time-consuming options that have hamstrung an industry that pulls in more than $20 billion annually from exports. Gustavo Idigoras, head of Ciara-Cec, a crop export and processing group whose members include Cargill, Inc. and Glencore Plc, called it an “emergency situation” that will likely last through the end of the year.

There’s been a financial toll on the imports side, too: Low river levels mean less hydro power and, as a result, more money that has to be shelled out for shipments of diesel to fuel electricity plants. Diesel imports have jumped to their highest since 2018 as the Yacyreta dam, which usually supplies about 14% of Argentina’s power from its northern river border, operates at just a third of capacity.

The combination of slowing exports and rising imports is cutting into the country’s trade surplus and adding to a slew of factors that are driving down the peso, the worst-performing currency in emerging markets this year. This has prompted the central bank to step back into foreign-exchange markets in recent days and sell dollars to prop up the peso and try to prevent inflation from spiraling even further out of control. Running at 50% a year, inflation is already a major drag on economic growth as it eats away at the purchasing power of tens of millions of Argentine consumers.

“If the shallowness of the Parana persists in the medium term, it’s a problem” because crops are Argentina’s biggest source of coveted export dollars to shore up the peso, and the country has already been slipping dangerously back to becoming a net importer of energy, said Belen Rubio, an economist at MAP, a consultancy firm in Buenos Aires.

The dried-up Parana has exposed a lack of long-term logistics planning in Argentina, she added, with the agriculture industry clamoring for a deeper shipping channel and where dams account for 28% of electricity generation capacity.

The setbacks to Argentine exports have global implications. The nation is a powerhouse of oilseed and grain production, the world’s No. 1 shipper of soybean meal for feeding livestock and soybean oil for cooking and biofuels. It’s the third biggest exporter of corn.

On the domestic front, the ebbing river levels are shaving dollars off the value of Argentina’s sales abroad, with Argentine soy meal premiums trading at record lows versus rival Brazil. Premiums paid for September shipment are about 25 dollars a ton cheaper than in its neighbor, and, even worse, many meal buyers are flocking to Brazil to avoid the higher shipping costs altogether.

The Parana’s situation has gotten so dire that Argentina even declared a water emergency in seven riverside provinces on July 24, which allows the government to take special action to mitigate the impact of the drought and keep businesses and industry going.

The drought has been fiercest at the source of the river in Brazil, largely sparing Argentina’s farm belt 1,500 miles south. In Brazil itself, meanwhile, the dryness has destroyed crop yields.

As for the rising diesel imports, they’re a fraction of the country’s trade surplus, yet still closely watched because they can have an outsize impact.

“Argentina has a hard-currency shortage so even a minimal outflow of dollars to import additional energy adds uncertainty,” said Marcelo Elizondo, an Argentine consultant who specializes in trade. “The question is how long this lasts for.” — Bloomberg

Hyundai PHL has hand in modernizing Northern and Central Luzon PUVs

August 9, 2021 | 12:01 am

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HYUNDAI ASIA Resources, Inc. (HARI), the country’s official distributor of Hyundai commercial vehicles through Hyundai Trucks and Buses Cabanatuan (HTB Cabanatuan), continues its support for the nationwide Public Utility Vehicle Modernization Program (PUVMP) with the recent turnover of a fleet of Hyundai Modern PUVs in Northern and Central Luzon.

The units are among the estimated 100 Modern PUVs that HARI turned over to various transport cooperatives nationwide this year. HTB Cabanatuan counts this as its fourth turnover this year, covering areas of Luzon, specifically Tarlac, Pangasinan, plus Ilocos Norte and Bulacan.

Said HTB Cabanatuan President Dennis San Juan, “We are grateful for the opportunity to participate in the government’s PUVMP and to contribute to helping the country’s hard-working transport cooperatives to modernize their fleet through Hyundai’s quality people movers. Our dealership is ready to provide service assistance necessary for their cooperatives to keep on moving for sustainable mobility and progress.”

HTB Cabanatuan recently turned over 23 units of HD50S Modern PUV Class 2 to the Laoag Bacarra Pasuquin Transportation Group, Inc. (LBPTGI), while the Sapang Palay Tungko Grotto Transport Service Cooperative (SPTGTSC) of San Jose Del Monte, Bulacan, received 15 brand-new units of the same Modern PUV model last July 19.

Both events were attended by officials from the national and local government, transportation sector, banking industry, and community groups.

According to HARI President and CEO Ma. Fe Perez-Agudo, the vigorous sales of their Modern PUV models is an indicator of the growing trust and confidence of the transport sector in Hyundai. “HARI believes that quality speaks for itself, and that commitment to quality is what our hard-working, progressive transport groups have seen in our Hyundai Modern PUVs. They can rest assured that we shall return their trust with nothing less than dedicated service and assistance to maintain the quality, safety, and road-worthiness expected of our Modern PUVs,” she said.

For more information, visit www.hyundai.ph. A quote for any of Hyundai’s commercial vehicles is available at www.hyundai.ph/shop/eb2B or e-mail Hyundai CARES at wecare@hyundai-asia.com.

Style (08/09/21)

August 9, 2021 | 12:01 am

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Find the perfect shirt at UNIQLO

JAPANESE global apparel retailer, UNIQLO has launches its latest T-shirt collection meant for people’s everyday needs. The line-up comes in a variety of colors, silhouettes, and made with premium yet comfortable fabric. Stay comfortable while working on home renovations and chores with the Men’s and Women’s U Crew Neck Short Sleeve T-Shirt. The collars have binding specifications that help the garment keep its shape and will not stretch out. It is made from low-count yarn with a compact knit, designed to be durable and long-lasting. For online work meetings, a Women’s Mercerized Cotton Flare Short Sleeve T-Shirt exudes an effortlessly elegant look with its shirt-like fabric and voluminous flared sleeves. For men, there is the classic yet versatile Supima Cotton Crew Neck Short Sleeve T-Shirt, made with 100% Supima cotton which keeps one feeling fresh after a whole day of presentations. To stay cool even after a whole day’s work or after exercising there are the Women’s U AIRism Cotton Crew Neck Oversized T-Shirt, whose comfort conditioning technology provides breathable and quick-drying properties that help wick away moisture and heat; and the Men’s DRY-EX Crew Neck Short Sleeve T-Shirt, made with ultra-fine fibers that eliminate odors and alleviate that sticky feeling after working out. For staying home and binge-watching your favorite TV series during the rainy season, there is the Women’s Stretch Cotton High Neck Half Sleeve T-Shirt and Men’s Soft Touch Crew Neck Long Sleeve T-Shirt, both made with thick and opaque cotton fabric and treated with a special softener for a wrinkle-free and silky texture. Visit the UNIQLO Philippines’ website at uniqlo.com/ph to check out these T-shirts and more.

GrabPay online deals stretch past Aug. 8

IT’S A LITTLE past Aug. 8 (when the big online sales were held), but shopping deals from GrabPay can stretch all the way until payday. GrabPay, the online payment service offered by Grab, offers discounts from retail and shopping partners until Aug. 12 or 15 (depending on the partner), if the shopping is done with a GrabPay Card. Get up to 20% off on Lazada with a GrabPay Card with promo code GrabPay88, with a minimum spend of P2,000 until Aug. 12. On Shopee, one can get a P200 cashback with a minimum spend of P1,000. Shein offers 10% off if one uses GrabPay, with a minimum spend of P2,000. Zalora will offer up to 25% off and 5% cashback until Aug. 16 with a minimum spend of P2,000 until Aug. 15. One can also get deals on e-gift checks from Pancake House, Jollibee, and Auntie Anne’s. Other partners offering deals with GrabPay include Adidas, Pomelo, and ShopSM. Using GrabPay for online shopping earns reward points that one can collect and use to enjoy discounts on GrabCar, GrabFood, and GrabMart, and can use to pay for purchases. For more information on GrabPay, visit https://www.grab.com/ph/blog/experience-grabpay-now/.

Lounge wear, athletic-inspired fashion from #MKGO

MICHAEL KORS kicks off the MICHAEL Michael Kors Fall 2021 season with #MKGO, the brand’s wear-everywhere line of lounge wear and athletic-inspired fashion for women and men. Equal parts luxe and laid-back, #MKGO offers a wardrobe refresh as the world begins to open up again. Among the offerings is a cozy chic knit dress, reversible long puffer and a range of sporty essentials for both women and men including leggings, joggers, T-shirts, and sweatshirts. Setting the tone for the whole season is a fall-ready color combination of optic orange and brand’s chocolate signature print, often punctuated by bold logo accents. For accessories, the SoHo Bag and Hudson backpack return for fall with a new graphic monogram stripe featuring a repeating KORS motif. The Olympia Extreme trainer and Keke Extreme boot have both been updated with a new bubble out sole. For men, there are the Theo trainer and Asher boot. The new #MKGO pieces will land in stores and MichaelKors.com on Aug. 10. In the Philippines, Michael Kors has stores at Central Square in Bonifacio High Street Central, Greenbelt 5, Newport Mall, Power Plant Mall, Rustan’s Makati, and Shangri-La Plaza Mall and is available online at Trunc.ph and Rustans.com.

Montblanc celebrates Sir Arthur Conan Doyle

WITH its Writers Edition pens, Montblanc pays tribute to some of the world’s greatest literary figures. Among those great writers is Scottish-born Sir Arthur Conan Doyle, best known for the 60 stories he wrote about Sherlock Holmes. The new Montblanc Writers Edition Sir Arthur Conan Doyle collection is inspired by the Sherlock Holmes stories and the life of his originator. The clip on each of the editions is shaped like a magnifying glass in homage to Sherlock Holmes. The author’s likeness can be found engraved on every nib on each of the four editions, accompanied by a special story element from the theme of the respective edition. The four editions are: the Sir Arthur Conan Doyle Special Edition, whose cap and barrel are decorated with a pattern based on an original Sherlock Holmes Tartan, and details that focus on Doyle’s medical practice like an old street map showing the street of his clinic, and whose nib is engraved with pterodactyls from his novel The Lost World, and a cap ring decorated with Doyle’s signature and the vine symbol from the cover of A Study in Scarlet, among other touches; the Sir Arthur Conan Doyle Limited Edition 1902, whose dark brown lacquer recalls the detective’s pipe, the limited number of 1,902 fountain pens and 1,902 rollerballs is a reference to the first publishing of The Hound of Baskervilles in 1902; the Sir Arthur Conan Doyle Limited Edition 97 which references 1897, the year the author’s house in Surrey, where he wrote most of his important works, was completed, it also has a white gold skeletonized overlay on different translucent lacquer fields inspired by the stained-glass windows at the house; and the Sir Arthur Conan Doyle Limited Edition 8, adorned with three-dimensional icebergs in white gold, surrounded by translucent blue lacquer reminiscent of the icy waters of the Arctic where he had served as ship’s surgeon on a whaling boat. To complete the tribute to Sir Arthur Conan Doyle, Montblanc is introducing a selection of matching writing accessories: a stationery notebook made from woven velvet featuring a street map of London and the author’s signature; a red ink in a glass ink bottle is inspired by the first Sherlock Holmes novel A Study in Scarlet; and a single leather pen pouch embossed with a street map of London and tartan pattern. Montblanc is available at Rustans Makati, Rustans Shangri-La, Rustan’s Cebu, Greenbelt 5, City of Dreams, Resorts World and through Rustan’s Personal Shopper On-Call

Charriol launches the Forever Rainbow Collection

CHARRIOL present the Forever Rainbow Collection in celebration of summer 2021, a limited edition watch that encapsulates optimism. The collection was designed as an expression of the Charriol motto L’Art de vivre la Différence, (the art of living the difference) a commitment to an iconoclastic life. The watch dial features the iconic rainbow motif, bold stripes of colored enamel framed by markers of colored gemstones, encompassed by a case offered in silver, gold, or rose gold. The band features nine signature twisted cables, nested in rigid stainless-steel structure, creating a sturdy and classic base for the bright dial. In the Philippines, Charriol is located at Greenbelt 5, Power Plant Rockwell, Trinoma, Central Square Bonifacio High Street, Rustan’s Makati, Rustan’s Shangri-La Plaza, SM Mall of Asia, Alabang Town Center, The Podium, Newport Mall, Robinsons Place Manila, Robinsons Magnolia, Marquee Mall Pampanga, Rustan’s Ayala Cebu and Abreeza Davao. It is also available online at Trunc.ph, Rustans.com, and Zalora.

SMIC recovers after Delta lockdown jitters

August 9, 2021 | 12:01 am

SY-LED SM Investments Corp. (SMIC) bounced back last week as the stock market stabilized after the lockdown-induced panic selling.

Data from the Philippine Stock Exchange showed a total of 880,800 SMIC shares worth P838.42 million were traded from Aug. 2 to 6, making the listed firm the seventh most actively traded stock last week.

Shares of the Sy family’s holding firm grew by 5.8% to P963 apiece last Friday from its July 30 finish of P910.50. The stock has dipped by 9.2% since the start of the year.

Analysts said the week-on-week recovery came after SMIC and other blue-chip issues bounced back from the panic selling brought by the reimposition of strict lockdown in Metro Manila as well as nearby provinces to contain the spread of the Delta variant of the coronavirus.

“SMIC basically recovered all of its losses from the week before as share prices began to stabilize from the extreme panic selling that we saw due to the reimposition of tighter restrictions,” AAA Southeast Equities, Inc. Head of Research Christopher John A. Mangun said in an e-mail interview.

In a Viber message, Timson Securities, Inc. Head of Online Trading Darren Blaine T. Pangan shared the same view, adding that “positive sentiment influenced the local bourse this week, amid the string of positive corporate earnings reports released over the past few days.”

For the third time, the government has placed the capital region in a two-week enhanced community quarantine (ECQ) until Aug. 20 in its bid to contain the spread of the more transmissible Delta strain of the coronavirus.

Surrounding provinces have also been put in various degrees of lockdown.

The Health department has detected 331 Delta variant cases in the country.

SMIC H1 EARNINGS, GOLDILOCKS BUY
The holding company disclosed to the local bourse on Wednesday that it hiked its stake in Goldilocks Bakeshop, Inc. to approximately 74%, from 34.1% as of end-2020, making Goldilocks a subsidiary of SMIC.

Mr. Mangun said the Goldilocks acquisition is a “good addition” to SMIC’s retail food portfolio.

“This is a small company in the large scheme of SM’s business portfolio although the Goldilocks brand will definitely benefit from SM’s management and expansion strategies and may come back stronger once the economy recovers,” he said.

SMIC’s first-semester bottom line ballooned nearly three times to P20.1 billion this year from P7.1 billion a year ago.

Its banking unit accounted for almost three-fifths of its net earnings in the first half, followed by property and retail at 28% and 14%, respectively.

Mr. Pangan did not provide his net income forecast for SMIC but said he would watch out for the impact of the new movement restrictions on the company’s business segments.

“Given the uncertainty brought about by the spread of the Delta variant and the strict quarantine measures that were implemented to contain it, we’ll observe in the coming months if its businesses in banking, property, and retail will continue to perform well,” Mr. Pangan said.

Mr. Mangun, meanwhile, penciled in a second-half bottom line of between P25 billion and P30 billion, topping the P23.39-billion attributable net income SMIC booked last year.

“The July-December period is always the most important for mall operators and retailers. It’s going to come down to the vaccination progress,” Mr. Mangun said.

“If the government can meet its target of having 60% of the population fully vaccinated before the end of the year, then we may have a wonderful Christmas season which will be good for SM,” he added.

For this week, Mr. Mangun placed SMIC’s support level at P910 and its resistance at P1,020.

Likewise, Mr. Pangan put the stock’s immediate support level at P910, with P1,019 as the closest resistance area to monitor. — Abigail Marie P. Yraola

Analysts’ Q2 2021 GDP estimates

August 9, 2021 | 12:00 am

LOOSER LOCKDOWN restrictions, coupled with base effects likely lifted the Philippine economy out of the recession in the second quarter, economists said, adding that the outlook for sustained recovery remains cloudy due to the reimposition of tighter restrictions this month. Read the full story.

Analysts’ policy rate expectations (Aug. 12)

August 9, 2021 | 12:00 am

THE BANGKO SENTRAL ng Pilipinas (BSP) is widely expected to keep policy rates unchanged at its Thursday meeting, as the economy’s recovery is clouded by the spread of the Delta variant of the coronavirus disease 2019 (COVID-19). Read the full story.