The Huddle Room unveils its future; laddering up as the first growth agency in the country

April 29, 2022 | 9:00 am

The Huddle Room after more than 2 years of remote working, come together as one at Sofitel Hotel, Pasay City. Prepped with their best comeback to office outfit, they formally kicked off their ninth year anniversary as a prelude to its decade of existence in 2023. They unveiled its future as an agency, that stood up for nine years as a start-up shop that turned as a standout with multiple recognitions, achievements and wins. The Huddle Room strengthened its grip on a growth mindset which is poised for a go, get and grow attitude. It officially announced its growth leadership team to further boost its organization as the premiere Growth Agency in the country. The launch culminated with a dinner by the bay spiced up by food carts and unlimited booze to graze the night.

Growth Story: Friends before Partners

The Huddle Room’s growth story started with an affirmation of partnership. Talking to the founders headed by Dimples Cruz and ably supported by Eugene Manalo, Julia Garcia, Pat Dizon and Reena Robles, as said before, they always root back on why they started? “We started as 6 friends dreaming of an agency but only 5 of us eventually grew the agency when we forged our commitment to fuel growth of our services”.

A Bond that Grows through time

Armed with unwavering integrity and sheer hard work – a bond forged the 5 of them to overcome challenges. Recounting on how they forged that bond, from a tiny room they have now The Huddle Room. “We were housed in a small room because we were the pitch team…hindi kami umuuwi, but we were very happy in that tiny room… dun nabuo friendship namin” (Reena Robles)

Growth fueled by Determination

When they started, their skills were sharpened by courage – like learning from 0 on digital. They really embraced growing their skills. They were unfazed with whatever challenges along the way. “ When we started, everyone said we would fail. It’s not always rosy, but one thing is for sure, all for one, one for all” (Dimples Cruz).

Change for growth

Even if they are getting old, these five founders are always on the go to be the sole authors of a new chapter in their story. “Kahit 9 years na tayo, I am happy to hear that everyone is open to change, to do new things” (Julia Garcia)

Growth from Within

While they are continuously coping with external changes and challenges, the 5 founders do not forget that growth should start from within. “We are built to create organic growth. Even if we started as media, we slowly grew our clients business alongside growing our business as well.” (Eugene Manalo)

Growing a New Path

While they recognize that they were molded by great mentors and leaders, they acknowledge the need to change and make some balancing acts and embrace changing the rules. “Everyday is a delicate balancing of act of making the company grow but at the same time finding how our people will enjoy their work and grow with us”. (Pat Dizon)

These stories of embracing changes and realizing to take a new path with determination and courage led to the essence and purpose of The Huddle Room – to advocate growth. Witnessing the growth of their people, partners and brands is what delights, excites and gives their work meaning.

Country’s Premiere Growth Agency

Inspired by our growth story, The Huddle Room is committed to help everyone find your own growth path and will do everything to enrich and empower everyone’s journey towards optimum and holistic growth – for oneself, organization and things we all value.

As the country’s pioneering growth agency, THR believes that everyone would grow with them as an indispensable partner, to clients, raw and diverse talents all over the country. This belief is anchored on the very foundation of the agency built from trust.

The unquestionable principles and ethics of the founders.
Customized integrated growth strategic approach
Their edge through an agile and growth mindset and
A commitment to build lasting relationships.

In an industry, crowded with creative, media and digital agencies, THR is proud to take the higher ground. We are a GROWTH AGENCY. Because this is our greatest desire – for everyone to grow with us.

Learn more about The Huddle Room so you can grow with us too. www.huddleroom.com.ph / ask@huddleroom.com.ph / www.facebook.com/TheHuddleRoomPH

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More ‘hot money’ left country in March

April 29, 2022 | 12:35 am

Dollar and pound banknotes are seen in this picture illustration taken on April 28, 2017. — REUTERS

MORE SHORT-TERM foreign investments left the Philippines than what entered in March, reflecting heightened uncertainty from the Russia-Ukraine war and monetary policy tightening in the United States.

Data from the Bangko Sentral ng Pilipinas (BSP) showed foreign portfolio investments or “hot money” yielded a net outflow of $305.08 million in March, 43.6% lower than the $540.97 million in net outflow a year earlier.

However, this was a reversal from the $274.04 million in net inflow in February.

March’s net outflow was also the biggest since $339.7 million in July 2021.

The net outflow of foreign portfolio investments reflected the volatility in international markets since the Russia-Ukraine war erupted in late February, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

The monetary policy tightening by the US Federal Reserve might have also spurred the exit of more hot money from the Philippines, he added.

The US central bank last month raised its policy rate by a quarter percentage point as part of its battle against decades-high inflation. The Fed is expected to raise interest rates by 50 basis points at next week’s meeting, Reuters reported.

Asian Institute of Management economist John Paolo R. Rivera said investors were also on a risk-off sentiment ahead of the national elections on May 9.

“This may be due to investor sentiment regarding the upcoming political landscape as a new administration is about to enter. This may be reflective of market and investor sentiment about politics,” he said in a Viber message.

Former Senator Ferdinand R. Marcos, Jr. remains a frontrunner in pre-election polls, but a Bloomberg poll showed analysts and investors preferred Vice-President Maria Leonor G. Robredo as the country’s next president.

BSP data showed gross inflows of hot money climbed by 55% to $1.277 billion in March from $824.23 million a year earlier.

The top five investor economies during the month included the United Kingdom, United States, Luxembourg, Singapore and Hong Kong, which accounted for 78.4% of foreign portfolio investment inflow.

The bulk of investments went to securities of holding companies; property; banks; food, beverage and tobacco; and transportation services. The rest were invested in peso government securities.

Meanwhile, gross outflows rose by 15% to $1.582 billion in March from $1.365 billion a year ago.

For the first quarter, hot money yielded a net outflow of $16 million, 96.6% lower than $483 million a year earlier.

International developments as well as risk-off sentiment as the election draws nearer would likely continue to cause worry among foreign investors, Mr. Ricafort said.

“For the coming months, more aggressive Fed rate hikes, the lingering Russia-Ukraine conflict for more than two months already, some lockdowns in China, as well as election-related uncertainties could be headwinds to the recovery in the local economy and financial markets,” he said.

The BSP expects hot money to yield a net inflow of $4 billion in 2022. — Luz Wendy T. Noble

Central bank sanctions BDO, UnionBank over online fraud incident

April 29, 2022 | 12:34 am

cyber-crime — REUTERS/KACPER PEMPEL/FILE PHOTO

By Luz Wendy T. Noble, Reporter

THE BANGKO SENTRAL ng Pilipinas (BSP) on Thursday said it has approved sanctions on BDO Unibank, Inc. and UnionBank of the Philippines, Inc. over an online fraud incident involving customer accounts in December.

In a statement, the BSP said it has completed the investigation into the incident that “originated from a compromised web service” and involved unauthorized access of BDO accounts and fund transfers mostly to UnionBank accounts.

“Based on the results of the investigation, the Monetary Board approved the imposition of sanctions on BDO and UnionBank to ensure that both banks will swiftly address the issues,” it said.

The sanctions “emphasize the importance of continuously enhancing risk management systems involving cybersecurity, anti-money laundering, and combating terrorism and proliferation financing,” the BSP said.

UnionBank President and Chief Executive Officer (CEO) Edwin R. Bautista said the BSP did not impose monetary penalties.

“All the recommendations of BSP to avoid such incidents have been implemented. No monetary penalties. But we were asked to increase our capital charge against operations risk,” he said in a text message.

He said UnionBank has fully cooperated with BDO and the BSP, and has frozen a “sizeable amount and returned it to BDO.”

BDO President and CEO Nestor V. Tan said the bank would comply with the BSP’s sanctions. “We will work with the BSP to ensure a more secure banking environment,” he said via Viber message.

In deciding on sanctions, the BSP said it took into consideration the corrective actions implemented by both banks related to the cyber incident, including BDO’s move to reimburse the funds of its affected clients.

“This incident is a reminder that we should continue to enhance our defenses against cyberthreat actors to protect the integrity of the financial system and the interests of depositors,” BSP Governor Benjamin E. Diokno said in a statement.

In December, some customers of BDO took to social media to complain about unauthorized fund transfers from their accounts to fictitious accounts at UnionBank.

The National Bureau of Investigation in January arrested several people allegedly behind the hacking incident that affected more than 700 BDO clients.

The hackers stole about P1.2 million but could have potentially embezzled more than P50 million if the transactions were not immediately tagged as suspicious, the NBI has said.

NCR’s economic output rebounds but still below pre-pandemic level

April 29, 2022 | 12:33 am

A vendor arranges eggs at the Paco public market in Manila. — PHILIPPINE STAR/ RUSSELL PALMA

By Bernadette Therese M. Gadon, Researcher

THE NATIONAL Capital Region’s (NCR) economy bounced back last year from a double-digit contraction in 2020, but remained below the national growth rate due to strict lockdowns meant to contain the coronavirus.

Preliminary results from the latest regional accounts released by the Philippine Statistics Authority (PSA) showed NCR’s economic output expanded by 4.4% last year, reversing the 10% drop in 2020. However, this was still lower than the 7% growth in 2019.

Metro Manila’s growth was also well below the Philippines’ revised 5.7% economic growth last year.

NCR’s growth was the third slowest among the 17 regions in the country, only ahead of Bicol (4.3% in 2021 from -8.3% in 2020) and Mimaropa Region (3.3% from -7.5%).

Other regions that missed the national average last year were Central Visayas (5.4%), Soccsksargen (5.2%), Cagayan Valley (5.1%), and the Ilocos Region (4.6%).

Calabarzon had the fastest growth rate among the 17 regions with 7.6%, a turnaround from 10.5% decline in 2020. It was followed by the Bangsamoro Autonomous Region in Muslim Mindanao (7.5% from -1.9%), Cordillera Administrative Region (7.5% from -10.2%), and Central Luzon (7.4% from -13.9%).

Still, NCR remained the largest contributor to national economic output last year with a 31.5% share, slightly lower than 31.9% in 2020. This was followed by Calabarzon with a 14.7% share, Central Luzon with 10.9%, and Central Visayas with 6.5%.

PSA-NCR Regional Director Paciano B. Dizon said the capital region grew slower than other regions in 2021 due to strict lockdowns amid the COVID-19 outbreak.

“If you will differentiate some of the regions and cities, mas marami talagang lockdowns sa NCR [last year] (there were a number of lockdowns in NCR last year). So that’s a contributor to the slow growth rate of NCR in comparison to other regions,” Mr. Dizon told a press briefing in Quezon City on Thursday.

Metro Manila was placed under varying degrees of lockdowns last year. The strictest form of lockdown was implemented in April and August as COVID-19 infections surged.

The government only shifted to an alert level system with granular lockdowns in the fourth quarter, with restrictions further loosened in November and December.

Aside from the mobility curbs, economists said Metro Manila’s growth last year was due to base effects coming from the contraction in the previous year and the gradual reopening of the economy.

“The interruptions in economic reopening might have contributed to slower growth unlike in other regions where restrictions and new policies are quite predictable unlike in NCR,” Asian Institute of Management economist John Paolo R. Rivera said in an e-mail.

ING Bank N.V. Manila Branch Senior Economist Nicholas Antonio T. Mapa noted that NCR’s growth was one of the slowest due to the stricter lockdowns and high number of cases.

“Thus, it’s clear that economic recovery and public health go hand in hand,” he said in a separate e-mail. “Base effects and the reopening may have driven the pickup in transport and storage while mining and quarrying may have benefited from the presidential decision to allow new mining agreements.”

In terms of sectoral output, Caraga led the regions in the service sector with an 8.1% increase last year, reversing a 5.3% drop in 2020. Soccsksargen and BARMM trailed with 6.7% (from -8.9%) and 6.6% (from -4.5%), respectively.

By industry, CAR grew by 16.3% (from -13.7%), followed by Central Luzon (13.8% from -19.9%) and Calabarzon (11.2% from -12.6%).

BARMM had the fastest growth among the regions in the agriculture sector with 8.3% (from 2.7%), followed by Central Visayas (5.6% from 4.2%) and NCR (5.5% from -3.3%).

On the expenditure side, Caraga recorded the quickest pace in household spending with 10.6%, a reversal of the 7.8% contraction in 2020. It was followed by Eastern Visayas (10.2% from -7.9%) and Cagayan Valley (9% from -8.4%).

The pace of government spending was fastest in BARMM with 12.6% (from 11.3%), followed by Cagayan Valley with 11.6% (from 8.8%) and Central Luzon with 8.9% (from 9.1%).

BARMM had the fastest growth in gross capital formation, the investment component of the economy, with 93.9% (from -50.1%), followed by Calabarzon (46.4% from -53.9%) and Central Luzon (42.6% from -46.3%).

NCR and Eastern Visayas recorded the highest export of goods and services to the rest of the world last year at 12.3%, after double-digit contractions in 2020.

Meanwhile, BARMM’s imports surged by 100.9%, a reversal of the -26.9% seen in 2020. Imports of Western Visayas and Northern Mindanao grew by 27.2% (from -17.5%) and 17% (from -12%), respectively.

On a per-capita basis, Metro Manila led the regions with P418,530 at constant 2018 prices, up by 3.2% — a turnaround from -11.1% in 2020. However, this was still below the 5.6% growth in 2019.

This year, analysts expect much faster economic growth as COVID-19 cases decline and restrictions ease.

“Assuming no other disruptions happen due to pandemic or other factors, it should continue to grow at a faster rate. No exact figure for now but the trajectory is promising,” Mr. Rivera said.

The government is targeting 7-9% gross domestic product (GDP) expansion this year.

Mr. Mapa said consumer spending, particularly for leisure, dining and recreational activities are likely to “improve dramatically” thanks to more relaxed lockdown levels.

Metro Manila and most parts of the country are under the most lenient alert level.

“It is imperative for authorities to ensure the economy can remain as open as possible, however always mindful to ensure support for the public healthcare sector,” he added.

Security Bank Corp. Chief Economist Robert Dan J. Roces said any renewed lockdowns this year could delay economic recovery.

“Risks remain as to further outbreaks given that we remain in a pandemic, notably lockdowns being experienced by some major Asian [cities], although the vaccination level in the capital is encouraging and could hopefully be enough to prevent case spikes and sustain the reopening,” he said in a separate e-mail.

“Another major risk is inflation due to the conflict between Russia and Ukraine, with commodity prices spiking and causing capital goods to become pricier and thereby possibly slow down productivity,” he added.

Gov’t sets P200-billion borrowing plan for May

April 29, 2022 | 12:32 am

THE NATIONAL Government plans to borrow P200 billion from the domestic market in May, the Bureau of the Treasury (BTr) said on Wednesday.

In an advisory, the BTr said the borrowing plan for next month is the same volume programmed for April. However, the government was only able to raise P160.38 billion last month.

The BTr will hold auctions for Treasury bills (T-bills) every week, which are expected to generate P60 billion.

The auctions for Treasury bonds (T-bonds) are expected to generate P140 billion.

According to the BTr, P5 billion worth of 91-day, 182-day, and 364-day T-bills would be offered every Monday of May (May 2, 9, 16, and 23).

For the long-term tenors, BTr will raise P35 billion in three-year T-bonds on May 3, P35 billion in five-year instruments on May 10, P35 billion in seven-year debt on May 17, and P35 billion in 10-year securities on May 24.

A trader said in Viber message he does not expect the Treasury to scale down its scheduled borrowings in the coming months.

A second trader in an e-mail said borrowings are expected to rise as the Bangko Sentral ng Pilipinas (BSP) is expected to start normalization of monetary policy soon.

BSP Governor Benjamin E. Diokno said on Monday that the central bank might consider a rate hike in June. The Monetary Board is set to meet on May 19.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said via Viber government borrowings might increase after the May 9 national elections.

“Government borrowings could again pick up after the elections, consistent with the need to manage the increase in maturing government securities after the elections and also after the end of election campaign period-related restrictions,” he said.

The government borrows from local and external sources to plug a budget deficit capped at 7.7% of gross domestic product this year.

The National Government has a gross domestic borrowing program of P1.91 trillion this year. Of this amount, T-bills will generate P52 billion, while fixed-rate T-bonds will bring in P1.86 trillion. — Tobias Jared Tomas

Accelerating inflation seen to hurt consumer spending, growth this year

April 29, 2022 | 12:31 am

People shop at a supermarket in Makati City. — PHILIPPINE STAR/ RUSSELL PALMA

THE Philippine economy may grow slower than initially expected this year, as accelerating inflation may hurt consumer spending, an economist said.

Security Bank Corp. Chief Economist Robert Dan J. Roces said he now expects gross domestic product (GDP) to expand by 6% in 2022, slower than the previous forecast of 6.5%. This is below the 7-9% growth target set by economic managers this year.

“We’re anticipating slower domestic consumption because of inflation. We’re seeing that emanate from rising commodity prices, due mostly because of the war, the war, so that could dampen recovery, although it’s not going to drain it,” he said at the bank’s virtual economic forum held on Thursday.

The central bank now expects inflation to reach 4.3% amid the surge in oil and commodity prices due to the Russia-Ukraine war. The consumer price index rose by 4% in March, already matching the upper end of the 2-4% target.

Ateneo de Manila University professor and former Socioeconomic Planning Secretary Cielito F. Habito said economic growth this year may get a boost from the election campaign. He said elections in the past contributed about one percentage point to growth, although this could be less now.

“This time, in the sense, a lot of it going into expenses in both mainstream and social media and perhaps a large part of it in social media,” Mr. Habito said.

“To that extent, or it’s not going as much into manufacturing and services. The effect of that will not be as inclusive or broadly benefiting,” he added. — Luz Wendy T. Noble

SEC flags three online lending firms, warns public of Leefire

April 29, 2022 | 12:07 am

THE Securities and Exchange Commission (SEC) warned the public about the illegal operations of three online lending firms and an unauthorized investment firm.

In an advisory on Thursday, the SEC ordered the three online lending operators to stop their activities without the necessary authorization from the commission, and to stop their abusive collection practices.

The commission en banc in an order issued April 26 directed Golden Cash, Help Cash, and Grace Cash to immediately cease and desist from engaging in, carrying out, promoting and facilitating any lending activity or transaction until they have secured the necessary registration and license from the commission.

“[T]he commission finds that the continued operations of Golden Cash, Help Cash, and Grace Cash constitute a clear violation of, and should be penalized,” the SEC said, adding that they engage and carry out a lending business without the required license from the regulator.

The commission also ordered the online lending operators to stop offering and advertising their lending business through the internet or any other media, and to delete materials involving such.

The SEC issued the order after finding that the three lending companies are not registered as a corporation with the commission.

“Further findings by the SEC Enforcement and Investor Protection Department (EIPD) revealed that the online lending operators have been employing unfair collection practices,” according to the advisory.

The EIPD reported that the online lending operators have been harassing, threatening, publicly humiliating their respective borrowers, and imposing hidden charges and excessive processing fees.

“The acts of these unregistered online lending operators in illegally offering and providing loans to the public, charging high interest rates, and subjecting its debtors to unfair treatment through abusive and even libelous language in collecting the loaned amount… have no place in a society that is governed by and faithfully adheres to positive laws,” the SEC said.

In a separate advisory, the SEC warned the public about Leefire Philippines, an unauthorized investment firm, for enticing the public to invest in the company without license or registration.

The commission reported that the entity was not registered as a corporation or partnership and was not authorized to solicit investments, since it did not secure prior registration or license.

“Further, since Leefire is also promising its investors to receive its native cryptocurrency ‘LFC coin’ in an apparent Initial Coin Offering (ICO), it is apt to once again remind the public that an ICO is the first sale and issuance of a new virtual currency to the public usually for the purpose of raising capital for startup companies or funding independent projects,” the SEC said.

The commission said the unauthorized firm was seeking to use the money it gathered from the public to fund its purported project on the promise of profits.

“Based on the contents of posts found online, Leefire is offering investments to the public through a mobile application available in Google Play Store. Signing up through a personal mobile number will entitle investors to receive a cash bonus of P120 which can be used to buy corresponding level of goods,” the advisory read.

The SEC said that any salesmen, brokers, dealers or agents involved in selling or convincing people to invest in Leefire may be prosecuted and held criminally liable.

Penalties include a maximum fine of P5 million or up to 21 years of imprisonment.

“The public is advised not to invest or stop investing in any investment scheme being offered by any individual or group of persons allegedly for or on behalf of Leefire Philippines, and to exercise caution in dealing with any individuals or group of persons soliciting investments for and on behalf of it,” the commission added. — Luisa Maria Jacinta C. Jocson

Retail to make fastest rebound in property market — Colliers

April 29, 2022 | 12:06 am

RETAIL spaces are seen to make the fastest recovery in the property market due to the reopening of the economy and eased mobility restrictions, according to Colliers Philippines.

“Retail will be the fastest rebound in the property sector, with sales returning to pre-pandemic levels,” Colliers Philippines Managing Director Richard T. Raymundo said in a briefing on Thursday.

“We’re seeing greater consumer traffic, with mall operators saying that 60% of mall traffic is back… so that should be positive for mall space absorption,” Colliers Associate Director Joey Roi H. Bondoc said.

In its first-quarter report, the property consultant said that it is anticipating revenge shopping, which will fuel the growth in the retail sector.

“Colliers is closely looking at the return of malls as Filipinos’ de facto public spaces, especially now that consumer traffic is reverting to pre-COVID levels and restaurants and activity centers are starting to welcome more guests,” the report read.

“Aside from revenge shopping and dining, which we project to kick in starting the second quarter, we see more opportunities in the market given mall operators’ and retailers’ propensities to innovate amid a liberalized playing field,” it added.

Colliers projected new supply to reach 409,000 square meters (sq.m.) in 2022. From 2022 to 2025, it sees the annual delivery of about 250,500 sq.m. of new supply.

Among the sectors, it sees Food and Beverage (F&B) retailers leading physical space take-up for the remainder of 2022.

“We project demand from non-F&B segments such as clothing and sports apparel will be picking up,” it said.

From 2022 to 2025, the firm projected the completion of new retail space in business districts such as Makati CBD, Fort Bonifacio, Bay Area and Araneta Center, which will likely cover 58% of the new supply.

In the first quarter, retail vacancy continued to rise albeit at a slower pace in Metro Manila at 15.2%.

“Despite the threat of the Omicron variant and low consumer traffic in January 2022, some retailers have announced store openings in selected super-regional malls,” Colliers said.

By the end of the year, the firm expects retail vacancy reaching 16%, which is slightly down from its previous forecast of a 17% vacancy.

“While this is still higher than pre-pandemic vacancy of between 9% to 10% in Metro Manila, the slight improvement indicates the start of slow rebound for Metro Manila’s brick-and-mortar retail segment despite persisting challenges brought about by the popularity of online shopping and potential threats of a new COVID variant,” the property consultant said.

In terms of retail rent, Colliers said it sees this slowly recovering by about 1% from a cumulative 15% drop in 2020 and 2021.

It said that the gradual pickup in retail space absorption by the latter half of 2022 should partly support the projected rebound in lease rates, as more retailers will be encouraged to occupy physical mall space as consumer traffic starts to improve.

“Colliers sees a pickup in discretionary spending as consumer confidence improves and footfall in malls reverts to pre-COVID levels. The election-related spending should partly contribute to a hike in household expenditures leading to the May 9 national polls. With the enactment of Retail Trade Liberalization and Foreign Investment Acts, we expect the entry of more foreign retailers,” Mr. Bondoc said.

“This should chip in to greater retail space take-up, a further diversification of offerings, and differentiation amongst mall operators which should eventually redound to the benefit of Filipino consumers,” he added. — Luisa Maria Jacinta C. Jocson

Opensignal: Smart dominates PHL mobile experience in Q1

April 29, 2022 | 12:05 am

PLDT, Inc.’s wireless arm Smart Communications, Inc. dominated Opensignal’s first-quarter ranking of mobile network experience among the country’s three largest mobile operators.

Smart was the market leader in terms of download speed experience and fifth-generation (5G) download speed, with scores of 19.7 megabits per second (Mbps) and 149.9 Mbps, respectively, Opensignal senior analyst Sam Fenwick said in his report for the first quarter.

Smart outperformed DITO Telecommunity Corp. by 4.9 Mpbs (32.8%) in terms of download speed and Globe Telecom, Inc. by 38.8 Mbps (35%) in terms of 5G download speed.

Mr. Fenwick said Smart 5G users also spent the most time on 5G and found a 5G signal in the most locations.

“Smart wins 5G availability with a score of 14.7%, 5.8 percentage points ahead of Globe’s 8.8%. Smart’s lead is smaller in 5G reach as it wins with a score of 4.4 points, while Globe comes second with 3.5 points,” he noted.

At the same time, Smart dominated the games and voice application experience.

“Smart’s margin of victory is impressive for both games experience and 5G games experience — for the former, its score of 54 points is 12.9 points (31.5%) higher than that of second placed DITO. Smart wins 5G games experience with a score of 68.1 points, ahead of Globe’s score of 56.8 points by an impressive 11.3 points,” Mr. Fenwik said.

Meanwhile, Globe won the excellent consistent quality award with a 7.8 percentage points margin over Smart.

“In core consistent quality, Globe beat DITO by 12.8 percentage points,” Mr. Fenwik said.

Opensignal’s measures of consistent quality quantify how often users’ experience on a network was sufficient to support common applications’ requirements.

Meanwhile, excellent consistent quality analyzes the percentage of users’ tests that met the minimum recommended thresholds for watching high-definition video, completing group video conference calls, and playing games. Moreover, core consistent quality uses thresholds for less demanding applications.

DITO dominated the upload speed experience category, with its users seeing the fastest average upload speeds in the country of 4.8 Mbps.

“DITO commanded a lead of 0.3 Mbps (7.6%) over second placed Smart’s score of 4.5 Mbps. Globe is in third place with a score of 3 Mbps,” Mr. Fenwik said.

“However, Smart is the sole winner of the 5G upload speed award with a score of 14.6 Mbps — 3.6 Mbps (32.5%) ahead of second-placed Globe.”

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

Live Nation launches in the Philippines

April 29, 2022 | 12:05 am

INTERNATIONAL live entertainment giant Live Nation Entertainment is now in the Philippines through the acquisition of Music Management International (MMI), one of the country’s premier talent provider and concert promoters.

“We have a long-standing and successful relationship with MMI, and the launch of Live Nation Philippines is the natural next step in our committed growth in the Asia Pacific region,” President of Live Nation Asia Pacific Roger Field said in his speech at the launch of Live Nation Philippines on April 25 at The Fifth at Rockwell in Makati City. “MMI adds another part to our network and our vision to deliver exceptional live entertainment experiences to music fans and more opportunities for artists to grow their audience across the world.”

Rhiza Pascua founded MMI in 1996 at a time when many of the world’s more prominent artists would skip Manila while on the Asian leg of their concert tours. The company’s operation involved negotiating with artists, managers, and agents to put the Philippines on the global touring map of Asia.

“Back then, we promoted [American boy band] 98°, and [Irish band] The Corrs and we continued promoting bigger and better shows,” Ms. Pascua said in her speech during the launch on April 25 at The Fifth at Rockwell, Makati City .

“Until one day in 2013, I got a call from Live Nation, arranged a meeting in LA and then they arranged a meeting in Hong Kong. I met with Alan Ridgeway who is the Chairman of Live Nation APAC,” Ms. Pascua said. The meeting led to a partnership between the companies in 2014 which allowed MMI to promote concerts of Madonna (2016), Coldplay (2017), and U2 (2019) in Manila.

With Live Nation’s acquisition of MMI, Ms. Pascua has been appointed to the role of Managing Director Live Nation Philippines.

“Over the years, MMI has delivered industry-leading world-class services to attract the biggest and best talent to the Philippines. Through the launch of Live Nation Philippines, the sky’s the limit, and we look forward to bringing even more of the globe’s biggest stars and connecting fans with the artists they love and the magic of live music,” Ms. Pascua said.

Live Nation mounts 40,000 shows and more than 110 music festivals each year. It operates in more than 270 venues in 40 countries, bringing 5,000 touring artists, and selling about 500 million tickets worldwide.

CONCERT SAFETY
In an interview with members of the press after the launch, Mr. Field assured that coronavirus disease 2019 (COVID-19) health protocols will be a priority with the return of live events. “Whatever we have to do in the moment for safety of our fans will be put in place,” he said.

Mr. Field also said that they are “working on lots” of potential tours of international artists, but mentioned no specific acts.

“The challenge has been [with] everybody (regions) opening (up) at different speeds,” he said.

Ms. Pascua said that MMI and Live Nation Entertainment “usually do at least two acts in one month.”

Live Nation Philippines has yet to announce details of its first live event. — Michelle Anne P. Soliman

UNO Digital Bank targeting to capture unbanked in big cities

April 29, 2022 | 12:04 am

uno-bank — UNO Digital Bank is looking to capture underserved and unbanked individuals in the country’s big cities in line with the Bangko Sentral ng Pilipinas’ financial inclusion goals.

UNO Digital Bank wants to capture the underserved and unbanked in the country’s biggest cities as it gears up for its targeted second-quarter launch.

“The opportunity itself in the big cities first — in the NCR (National Capital Region), in Davao — is huge,” UNO Digital Bank Co-founder and Chief Executive Officer Manish Bhai said in a media roundtable held in Makati on Tuesday evening.

“First, you need to get that fixed and then kind of expand. It’s the same in many countries today. I think people are getting comfortable with digital even on small islands — everywhere,” he added.

The bank targets to start operating within this quarter after finalizing regulatory matters with the Bangko Sentral ng Pilipinas (BSP).

UNO Digital Bank’s goal to help bridge the financial inclusion gap will go beyond account creation as they aim to ensure credit will become more accessible to previously unbanked and underserved individuals, Mr. Bhai said, noting that only 10% of Filipinos currently have access to loans from banks.

“I think within the mass market, we’re talking about credit [for the] underserved, the underbanked, which, again, are significant buckets. [There are] different products being mentioned, different age classifications, different scales of employment — some are self-employed, some are professionals, income levels vary,” said Vivek Kumar, UNO Digital Bank head for Loans, Payments & Ecosystems.

Mr. Kumar said the bank also wants to make loan applications “cheaper and faster.”

“There shouldn’t be any reason their loan application should take more than a few minutes if they qualify,” he said.

Meanwhile, Mr. Bhai said they will tap alternative credit data, including those on mobile behavior, social media, and online consumption behavior in ride-hailing and food ordering platforms, among others.

Amid emerging cybersecurity risks, the bank said it is putting in place safeguards to protect their potential clients from fraud and losses from unauthorized transactions.

Chito Africa, head of Technology at UNO Digital Bank, said they will use biometrics to ensure clients are protected, among others.

“If it’s (transaction) out of [usual] behavior, maybe questionable, [then] we will not allow the transaction to push through. We will also do a different monitoring to tell us if there are people trying to get into our system that are not supposed to be there,” Mr. Africa said.

Meanwhile, Mr. Bhai said their services will only be available via an app as it will not set up a web platform to prevent cybersecurity risks.

“We are only going to have the app, we are not going to have a web version because a lot of research showed the app is much more secure than a web interface,” he said.

“It also boils down to a lot of consumer education, which is our plan,” Mr. Bhai added, noting information on cybersecurity risks will be integrated in their app.

UNO Digital Bank is backed by Singapore-headquartered DigibankASIA Pte. Ltd. It secured its digital banking license from the BSP in June 2021.

Digital banks offer services via online platforms and do not need to establish branches.

The central bank expects these lenders to help it reach its goal to have 70% of Filipino adults become part of the formal financial system by 2023. — L.W.T. Noble

Sotto enters NBA Rookie Draft

April 29, 2022 | 12:04 am

kai-sotto_adelaide-36ers — KAI SOTTO — ADELAIDE 36ERS

By John Bryan Ulanday

KAI SOTTO has thrown his hat to the 2022 National Basketball Association (NBA) Rookie Draft, officially catapulting his treasured dream to become the first-ever Filipino homegrown player in the world’s biggest basketball stage.

The 7-foot-3 prodigy announced his much-awaited decision on Thursday in a heartfelt social media post, making himself available for the draft proceedings on June 23 in Brooklyn, New York.

“I have declared for the 2022 NBA Draft. Please pray for and support me during my quest to fulfill my ultimate dream,” said Mr. Sotto, who will turn 20 years old on May 11.

Mr. Sotto is coming off a decent stint with the Adelaide 36ers in the Australia National Basketball League, which he thanked for serving as a gateway to his NBA dream.

“Thank you, Adelaide. Thank you, Australia. It has been an unforgettable year,” said Mr. Sotto, who became the first Pinoy cager in the Land Down Under last year.

“To the 36ers Management, my teammates, my coaching staff and my agent Joel Bell, I am a better man and a better professional player than a year ago because you all took me under your wing and challenged and mentored me to live up to expectations.”

Despite seeing limited action (15.2 minutes), Mr. Sotto made his mark in the NBL that served as his international pro league debut with averages of 7.52 points on 50% clip, 4.48 rebounds and 0.7 blocks in 22 games.

But Australia was not the lone stage where Mr. Sotto showed a glimpse of his potential.

Mr. Sotto took his talents to the United States in 2019 that attracted interests from US NCAA schools led by Kentucky and Auburn as well as overseas programs like Germany’s Alba Berlin, Spain’s Real Madrid, Estudiantes and Barcelona.

He trained with The Skill Factory in Atlanta and ended up committing with Ignite in the NBA G League as a new professional pathway program to the NBA for high school prospects before landing in Australia.

At home, Mr. Sotto captured MVP honors for Ateneo High School in the UAAP juniors while anchoring Gilas youth to multiple FIBA Asia podium finishes and World Cup appearances.

Mr. Sotto, who debuted with the Gilas seniors team last year, is hoping for these experiences at a very young age paired up with his high ceiling to serve as his best assets in landing an NBA team.

Though Mr. Sotto could be the first homegrown Pinoy there, he would be a welcome addition to Fil-American aces Jordan Clarkson of the Utah Jazz and Jalen Green of the Houston Rockets as the country’s proud representatives.

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