E-commerce company Anchanto looking to expand customer base

April 8, 2021 | 12:02 am

E-COMMERCE solutions provider Anchanto is planning to expand its customer base in the Philippines this year as quarantine measures limit brick-and-mortar retail.

“If I was targeting (business) to explode in 2021, I would say it would be at least 50% more growth,” Anchanto Chief Operating Officer Abhimanyu Kashikar said, referring to both customers and revenue.

The Singapore-based company currently works with more than 400 small and medium-sized enterprises and 35 big firms in the Philippines.

“I think Philippines is a very important market, and it is growing fast. I think from the customers’ point-of-view, we have specific segments we want to focus on. Of course, all those who are looking to transition into e-commerce… that eventually will definitely help us to get the revenue as well,” Mr. Kashikar said in a virtual interview.

The retail sector suffered as mall foot traffic fell during the stricter lockdown and amid health anxiety among consumers last year. Metro Manila and nearby regions are again in an extended strict lockdown until April 11.

“Businesses were not able to sell. And some of the businesses who were earlier focusing on retail and less on e-commerce, they have started now realizing that e-commerce can help them still sell even if their shops are shut,” Mr. Kashikar said.

Anchanto’s sales activities in the Philippines slowed down in the first quarter last year as the strict lockdown was introduced in March, he said, spurring the company to adjust to engaging with potential customers virtually for a second quarter recovery.

The company is also looking to grow its Philippine team this year after deferring expansion activities originally set for 2020.

“We had growth plans in 2020, which we didn’t execute because of the pandemic. Where we are planning to grow is not only in the NCR (National Capital Region), but we also want to expand into other cities. The growth that will come in is some hiring that we have within NCR and also in the other cities,” Mr. Kashikar said.

“Earlier it was very easy to travel to Cebu. You can take a one day or two day trip and you can meet four customers. But today it is very difficult, so definitely we need local teams set up there who can basically fast-pace the execution.” — Jenina P. Ibañez

Suspect arrested in thefts of Van Gogh and Frans Hals paintings

April 8, 2021 | 12:02 am

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THE HAGUE — Dutch police have arrested a suspect in two separate thefts of paintings by Dutch masters Vincent Van Gogh and Frans Hals from museums that were closed due to the coronavirus disease 2019 (COVID-19) pandemic.

“This morning my colleagues arrested a 58-year-old man in Baarn and we suspect him of stealing two paintings by Frans Hals and Van Gogh,” police spokeswoman Maren Wonder said in a video statement released on Twitter. No further details were given about the suspect.

She added that the paintings have not been recovered and appealed to the public to come forward with any information about the whereabouts of the works.

In March last year thieves stole the Van Gogh painting Lentetuin, or Spring Garden, which dates from 1884 and depicts the garden of the rectory at Nuenen, from the Singer Laren Museum in the town of Laren, near Amsterdam.

Five months later, thieves broke into a small museum near the city of Utrecht and made off with a painting by Dutch “Golden Age” master Frans Hals.

The work, Two Laughing Boys, dated from 1626, was valued at 15 million euros ($18 million) by one expert. It had been stolen twice before in its four-century history, including as recently as May 2011 from the same museum. Police recovered it later that year after arresting four men who tried to sell it. — Reuters

Cantillan Bank eyeing to launch application in May

April 8, 2021 | 12:02 am

SURIGAO-BASED Cantillan Bank, Inc. is looking to launch its app for online transactions within the first half.

The community-based lender is looking to have the soft launch the platform in May and to make it accessible to the public by June.

“We have our bills payment, fund transfer, you can buy load, and secured 24/7 banking,” Steven Hotchkiss, head of Cantillan Bank’s Office of Strategic Management, said in an online briefing on Wednesday.

Mr. Hotchkiss said the basic features of the app are usual online services tapped by consumers.

“Aside from clients being able to access the app, we also target the merchants to be able to have the app and carry out bank services,” he added.

The app was developed through a grant from the Asian Development Bank and with the consultancy services of the International Finance Corp.

Cantillan Bank has 46 branches and branch lines across the Visayas and Mindanao. — LWTN

Century Pacific backs waste-to-cash program for sari-sari stores

April 8, 2021 | 12:01 am

LISTED food products maker Century Pacific Food, Inc. said on Wednesday that it partnered up with nonprofit Plastic Credit Exchange (PCEx) in rolling out a plastic-waste-to-cash program for sari-sari stores owned by women.

In a press release, Century Pacific said that the initiative called “Aling Tindera” allows the stores to become collection points for post-consumer plastic waste.

“Residents can then sell, through their respective ‘Aling Tinderas,’ post-consumer plastic for a predetermined price per kilogram. Once ‘Aling Tindera’ fills up the container, PCEx purchases the lot of post-consumer plastic at a mark-up, then taps its ecosystem of partners who recover, process and recycle the waste,” Century Pacific explained.

On its website, PCEx describes itself as a non-profit that partners up with sustainability-conscious businesses worldwide to offset their plastic footprints, and reduce waste that otherwise ends up in landfills and oceans.

In its media release, Century Pacific said that it installed “two purposefully-designed” containers, which can hold up to 7,000 kilograms of plastic waste, for sari-sari store owners at Brgy. 432 and Baseco Port, Manila.

The initiative hopes to increase the income opportunities of female sari-sari store owners and provide them with an additional livelihood.

“Through this program, both sari-sari store owners and community members are given the opportunity to not only make extra income, but are also empowered to depollute the environment around them,” Century Pacific said.

According to the company, the initiative is part of its broader sustainability program, which includes community livelihood assistance and plastic neutrality as key pillars.

Century Pacific’s dairy brand Birch Tree had been recognized as a “Plastic Neutral Brand” based on an assessment by third-party auditor Isla Lipana & Co., the firm said. This meant that it was able to “recover the amount of plastic equal to its consumption.”

“[We were] able to achieve this by purchasing plastic credits from PCEx, participating in a plastic offset mechanism inspired by the carbon offset industry. Plastic offsetting enables businesses to take action in stopping plastic waste from polluting our waterways and ending up in nature,” the company said.

Century Pacific Chief Operating Officer Gregory Francis H. Banzon said that by incorporating sari-sari store owners in its current effort, “the firm is helping in building a strong network of women micro-entrepreneurs, who can be catalysts for sustainability in their respective communities.”

Century Pacific is also known for the brands Century Tuna, Argentina, 555 and canned milk Angel.

Shares of the firm improved by 1.42% or 26 centavos to close at P18.62 apiece on Wednesday. — Angelica Y. Yang

Dining In/Out (04/08/21)

April 8, 2021 | 12:01 am

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McDonald’s joins the Korean Wave

ALTHOUGH a trip to the home of K-Pop and K-Dramas might not be possible for now, fans of all things Korean can turn to McDonald’s Philippines with the launch of the New Taste of Korea product range starting April 5. The four new Korean-inspired products are: K-Beef Burger, K-Chicken Burger, Strawberry Banana Sundae, and Honey Butter Fries. The K-Beef Burger features a 100% beef patty dipped in gochujang sauce and topped with crisp lettuce and slivers of onion — made even tastier with a slightly tangy kimchi dressing and a round egg sandwiched in black sesame seed buns. Get that same mix of mild spice and slight tanginess from the gochujang sauce and kimchi dressing with the K-Chicken Burger, made with a crispy chicken fillet with flavorful toppings and cheddar cheese, all sandwiched between soft black sesame seed buns. Enjoy these with the Honey Butter Fries. The newest dessert offering, Strawberry Banana Sundae, is a sundae drizzled with sweet strawberry banana syrup. The items are now available in McDonald’s stores for a limited time only. Check the availability of Taste of Korea in a nearby McDonald’s store via McDelivery, Drive-Thru, or Take-Out.

Popeyes offers Yas meal promo

POPEYES’ favorites have been made more affordable with the Popeyes Yas Every Day promo, with menu items starting at P45. Popeyes’ signature Chicken Burger is only P45, its meaty spaghetti at P55, and Popeyes Chicken with Rice at P84 and three-piece Chicken Tenders at P90. Enjoy Popeyes Yas Every Day at Popeyes stores at Arcovia City, Alabang Town Center, NU Mall of Asia, SM San Lazaro, Kroma Tower, SM Manila, SM Southmall, Ali Mall, Eastwood, Robinsons Place Manila, Eton Centris, Robinsons Galleria, SM Mall of Asia, and Festival Mall. They can also be ordered for pick-up or delivery via www.centraldelivery.com, the GrabFood and Pick-a-roo app. Get exclusive deals when you download the Central Delivery app via the Google Play store and the Apple App Store. For the latest deals and promos, visit www.popeyes.ph and follow @popeyesph on Facebook and Instagram.

Blowout treat from Mang Inasal

AS A SPECIAL Blowout treat this summer, Mang Inasal is giving two free solo servings of Palabok for every order of Mang Inasal Chicken Inasal Large Family Size. The promo runs from April 9 to 23. Order Mang Inasal Chicken Inasal Large Family Size via GrabFood, foodpanda, Mang Inasal Delivery Service or through Mang Inasal’s Facebook Messenger. For a complete listing of the branches that offer takeout and delivery services, visit https://stores.jfc.com.ph/manginasal.html.

Shake Shack offers limited edition BBQ items

SHAKE Shack announced that a limited-edition summer lineup of BBQ items is now available at Shacks in Central Square BGC, SM Megamall, and Greenbelt 5. The BBQ Trio are: BBQ Burger (P300), 100% all-natural Angus beef cheeseburger topped with crispy ale-marinated shallots and Shack BBQ sauce; BBQ Chick’n Shack (P275), a crispy 100% all-natural and antibiotic-free chicken breast with Shack BBQ sauce and pickles; and, BBQ Bacon Cheese Fries (P205), crinkle-cut fries topped with Applewood smoked, Shack cheese sauce, and Shack BBQ sauce. Looking for a way to beat the summer heat? Manila Shacks will also spin the S’mores Shake (P210) — chocolate frozen custard with marshmallow sauce, topped with whipped cream and graham cracker crumbs.

Lemon Grass offers local and intercontinental specialties

LEMON Grass Food Services, Inc., a catering, canteen, and fine dining business specializing in gourmet Filipino and intercontinental food, offers a variety of options to make home dinners feel special. Lemon Grass can take care of the cooking, have it delivered to your doorstep. Among the dishes on offer are Beef Lengua Estofado with a twist thanks to an infusion of tomato sauce, Pork Spareribs with Orange Glaze, Paella Valenciana, and Lemon Grass’ specialty — mango crepe and crème puffs. To learn more about the services and menu offered by Lemon Grass Food Services Inc., check out their Facebook and Instagram accounts.

Security Bank set to give MUFG clients access to cash management system

April 8, 2021 | 12:01 am

SECURITY BANK Corp. and Mitsubishi UFJ Financial Group, Inc. (MUFG) have expanded their partnership to give their clients access to cash management services.

The deal signed virtually on March 18 will give MUFG clients access to Security Bank’s cash management system called DigiBanker, the lenders said in a joint statement sent to reporters on Wednesday.

“We have no doubt this agreement will significantly enhance our service delivery and facilitate greater business flow across the region,” MUFG Country Head for the Philippines Yuichi Yamagishi was quoted as saying in the statement.

Through the deal, MUFG clients can expand their collection network in different parts of the Philippines through the DigiBanker platform.

The Japanese bank’s clients will also be able to tap Security Bank’s system for their disbursement requirements, either through online or check payments.

“MUFG’s corporate clients will gain access to the full range of Security Bank’s cash management portfolio. Our partnership is an incredible opportunity for us to take the best of Security Bank and MUFG and raise the bar for financial service excellence in the region,” Security Bank President and Chief Executive Officer Sanjiv Vohra was quoted as saying.

Security Bank’s partnership with MUFG dates back to 2016 when the Japanese bank bought a 20% stake in the local lender.

The listed lender’s net profit declined 26.7% to P7.4 billion in 2020 from P10.1 billion in 2019 as it hiked its credit loss provisions amid the ongoing pandemic.

Security Bank’s shares closed unchanged at P123 apiece on Wednesday. — LWTN

Huawei positions to be provider of new components of smart cars

April 8, 2021 | 12:01 am

CHINESE multinational technology company Huawei Technologies Co., Ltd. is positioning itself as a provider of new-added components of intelligent cars.

“The auto industry is now moving into a phase where it needs to digitally transform itself,” Ken Hu, Huawei’s rotating chairman, said at a virtual briefing on March 31.

“Huawei positions itself as a provider of new-added components of intelligent cars. This positioning is based on our belief that the information and communications (ICT) technologies we have developed would be very competitive,” he added.

He said the goal of the company is to enable car original equipment manufacturers (OEMs) to build better vehicles.

On its website, the company said it offers the following products to car OEMs: MDC (mobile data center) in-vehicle computing platform and intelligent driving subsystem solution; Octopus, a cloud service for autonomous driving (training, simulation, test); 4G/5G in-vehicle communication module/T-Box and network solutions; and HUAWEI HiCar people-car-home connectivity solution for all scenarios.

“Because of our efforts over the past years, we have built up a very solid knowledge base in the ICT industry. We have built on the ICT industry with continuous innovation. As such, ICT now and innovation represent a lot of what we can do to help the auto industry to digitally transform,” Mr. Hu said.

Huawei offers an internet of vehicles (IoV) solution that integrates data, devices, and operational management.

“Through the implementation of unified and secure network access, flexible device adaptation, and mass data collection and analysis, IoV contributes significantly to generate new potential revenue sources,” the company said on its website. — Arjay L. Balinbin

How much did each commodity group contribute to March inflation?

April 8, 2021 | 12:00 am

Philippines’ intellectual property rank and score slip in global list

April 8, 2021 | 12:00 am

How PSEi member stocks performed — April 7, 2021

April 8, 2021 | 12:00 am

Here’s a quick glance at how PSEi stocks fared on Wednesday, April 7, 2021.

PSE index rises on hopes of economic recovery

April 7, 2021 | 9:00 pm

STOCKS continued to rise on Wednesday on investor optimism following the slower inflation print recorded last month.

The Philippine Stock Exchange index (PSEi) rose by 61.6 points or 0.93% to close at 6,651.71 on Wednesday, while the broader all shares index went up by 41.94 points or 1.04% to 4,044.94.

“Investors chose to be optimistic despite concerns of an extended lockdown due to surging COVID-19 (coronavirus disease 2019) cases,” AAA Southeast Equities, Inc. Research Head Christopher John Mangun said via e-mail.

“Inflation figures for the month of March, which came in lower than the month before, has given investors some hope that prices of commodities have started to stabilize, soothing fears of runaway inflation which would hurt the struggling economy further. The lack of selling prompted bargain hunters to look for opportunities in battered issues,” Mr. Mangun added.

Headline inflation was at 4.5% in March, the Philippine Statistics Authority reported on Tuesday, slowing from the 4.7% print in February but faster than the 2.5% seen in March last year.

Inflation averaged at 4.5% for the first quarter, beyond the central bank’s 2-4% annual target as well as its 4.2% forecast for 2021.

Meanwhile, Timson Securities, Inc. Trader Darren T. Pangan said the gains posted by the PSEi also reflected offshore developments.

“The market ended higher together with most Asian markets, on growing optimism over the world’s economic recovery, especially after the IMF (International Monetary Fund) lifted their outlook on their global growth forecast,” Mr. Pangan said in a Viber message.

Majority of the PSEi’s sectoral indices went up on Wednesday, except for mining and oil, which dropped by 53.09 points or 0.61% to 8,529.01.

Meanwhile, property gained 81.42 points or 2.52% to 3,312.83; holding firms improved by 43.71 points or 0.64% to finish at 6,800.23; industrials went up by 44.66 points or 0.5% to 8,935.95; services increased by 5.59 points or 0.39% to 1,439.22; and financials inched up by 5.3 points or 0.38% to close at 1,390.04.

Value turnover decreased to P6.05 billion on Wednesday with 3.41 billion shares switching hands, from the P5.85 billion with 2.42 billion issues traded on Tuesday.

Advancers outnumbered decliners, 147 against 57, while 46 names closed unchanged.

Net foreign selling climbed to P667.2 million on Wednesday from P551.88 million in the previous trading day.

“Thursday being the last trading day of the week, significant support may be drawn at the 6,400 area, while next resistance may be set at the 6,950 level,” Mr. Pangan said. Financial markets are closed on Friday in observance of the Day of Valor.

“PSEi is currently up 3.2% for the week, and although we may see some profit taking on the last trading day, it may still end with some gains for the week,” AAA Southeast Equities’ Mr. Mangun added. — Keren Concepcion G. Valmonte

Peso declines vs dollar on lockdown concerns

April 7, 2021 | 9:00 pm

THE PESO closed sideways against the greenback on Wednesday as the market awaits clarity on restrictions on movement after this week and new signals from the US Federal Reserve.

The local unit closed at P48.585 per dollar on Wednesday, depreciating by 1.5 centavos from its P48.57 finish on Tuesday, data from the Bankers Association of the Philippines showed.

The peso opened yesterday’s trading session at P48.53 versus the dollar. Its weakest point was at P48.625, while its intraday best was at P48.52 against the greenback.

Dollars exchanged inched up to $581.8 million on Wednesday from $559.3 million on Tuesday.

The peso depreciated slightly amid concerns over the possibility of an extension of the tight restriction measures currently in effect in Metro Manila and nearby provinces, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said.

Presidential Spokesperson Herminio “Harry” L. Roque on Tuesday said the government is not keen on extending the strict lockdown in these areas, saying the government lacks funds for cash aid.

Mr. Roque said they are instead considering the recommendation of the Department of Health to switch to a modified enhanced community quarantine after the two weeks of strictest form of lockdown in the National Capital Region, Cavite, Laguna, Rizal, and Bulacan.

However, President Rodrigo R. Duterte on Wednesday skipped his weekly address to the nation on the coronavirus disease 2019 (COVID-19) situation in the country and the Palace did not provide further explanation regarding his absence.

COVID-19 infections rose 6,414 on Wednesday to bring the total to 819,164, with active cases now at 158,701.

Meanwhile, a trader said the peso inched down versus the dollar due to “some caution ahead of the release of the Fed policy minutes.”

The Federal Reserve was expected to release the minutes from its last monetary policy meeting later on Wednesday, and market participants were set to parse it for any changes to the US central bank’s economic outlook, Reuters reported.

The US economy is heading for its strongest growth in nearly 40 years, the Fed said after its meeting last month, and central bank policy makers are pledging to keep their foot on the gas despite an expected surge of inflation.

Fed officials expect economic growth to remain above trend for at least two years to come, at 3.3% in 2022 and 2.2% in 2023, compared with estimated long-term potential growth of just 1.8%.

Opinions among the Fed’s 18 current policy makers did shift somewhat, with four now expecting rates may need to rise next year and seven seeing a rate increase in 2023.

Fed Chair Jerome Powell noted the “strong bulk” of the policy-setting Federal Open Market Committee (FOMC) anticipates no interest rate increase until at least 2024, and he added that it was even too soon to talk about scaling back the $120 billion of Treasury bonds and mortgage-backed securities the Fed is buying each month to further prop up the economy.

The FOMC’s policy statement, which kept the benchmark overnight interest rate in a target range of 0-0.25%, was unanimous.

Mr. Ricafort expects the peso to trade from P48.54 to P48.64 versus the dollar today, while the trader expects the local unit to move within the P48.50 to P48.70 levels. — LWTN with Reuters