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Fintech support sought for small firms

THE Philippine arm of an Asia-Pacific business council is urging the country to take on financial technology tools to assist small businesses recovering from the effects of the coronavirus disease 2019 (COVID-19) pandemic.

The Asia-Pacific Economic Cooperation Business Advisory Council (ABAC) had a series of virtual discussions in May and June to develop recommendations to address the health and economic impacts of the pandemic.

The Philippines advocated for boosting financial inclusion for micro, small, and medium-sized enterprises (MSMEs), ABAC Philippines said in a press release on Friday.

“A number of innovative solutions in providing financial relief and assistance for SMEs such as in insolvency regimes and digital IDs, can be leveraged effectively when the technologies and systems are in place,” ABAC PH member and co-chair of ABAC’s Finance and Economics Working Group Joanne de Asis said.

She said that, among ABAC members, fintech entities should have access to support from the government. Members should also upgrade and digitize systems for access to finance and asset management, and develop standardized or manual tool kits for small businesses to operate once lockdown restrictions are relaxed.

ABAC PH member Francis Chua said small businesses need strategic interventions.

“What our SMEs need is not temporary relief, but support mechanisms to build their capacities, to have access to finance and to tap new markets,” he said.

Sabin M. Aboitiz, Aboitiz Equity Ventures, Inc. president and chief executive officer, said that digital technology is critical.

“Business, big and small, as well as communities should embrace digital transformation if we are to compete let alone survive in a post-COVID environment,” he said.

ABAC in its response to the crisis is focusing on four issues, including digital technology, supply chain resilience, open markets for goods and services, and MSME support.

The council discussed trade barriers to essential goods, digital infrastructure for work and education, and data privacy. — Jenina P. Ibañez

Bridal fair goes online

JUNE is the traditional month for bridal fairs, giving the prospective bride and groom at least six months to get their wedding together before the most popular period for Philippine weddings — December to February when the weather is cooler and chances of rain much reduced. But the coronavirus, as it has with most aspects of life, has thrown a greasy spanner at all the white lace and promises, as both weddings and bridal fairs find themselves in limbo thanks to quarantines, social distancing, and the need to wait for a functional vaccine. But just like other aspects of life, the digital world has provided a lifeline.

The hotel Conrad Manila has mounted its first ever “Online Wedding Fair,” done in partnership with Bridalpod.ph. It is ongoing until June 14 at Bridalpod.ph Online Wedding Fair. .

In a press release, the hotel points out that the “‘virtual event’ marks a milestone where soon-to-wed couples can have memorable, safe and convenient ways to plan their inspired wedding celebration with some of the wedding industry’s best brands, and work with the most professional and creative minds on the biggest day of their life.”

Like a bridal fair in normal times, the virtual fair offers exclusive hotel wedding packages, as is a venue for couples and wedding planners to search for providers of all aspects that make up a wedding: the gown, flowers, makeup artist, photographer, videographer, stylists, etc.

Among the features on Bridalpod.ph are Interactive virtual halls and booths, mobile-first responsive design available on any device, suppliers grouped by category/ field and their respective portfolios, and, of course, the discounts, special promotions and packages which draw couples to fairs.

The Conrad Manila is a popular choice for weddings, and when times get better, brides and grooms will be able to hold their weddings at the pillar-less Grand Ballroom (it can accommodate up to 500 guests for a sit-down dinner and up to 900 for cocktails) assured that the hotel will be following “stringent health and safety measures in accordance with global and government standards including social distancing practices.” And as experts are now saying that the COVID-19 video is less transmissible in open-air venues, the hotel also has a 2,300 sq.m. outdoor space “with sweeping views of the city landscape” for open-air wedding ceremonies and cocktail receptions.

The Bridalpod.ph Online Wedding Fair can be found at https:/bit.ly/BridalpodConradManila.

OUTLIER: Profit taking drags Globe Telecom stock lower

By Lourdes O. Pilar, Researcher

PROFIT taking drove much of Globe Telecom, Inc.’s stock activity last week.

Globe was the 14th most actively traded stock last week with a total of 526,610 shares worth P1.14 billion having exchanged hands on the trading floor during the week from June 1 to 5, data from the Philippine Stock Exchange showed.

Shares in Globe closed at P2,170 apiece on Friday, down 5.4% on a week-on-week basis. Year to date, however, the stock is still up by around six percent.

“Start of [last] week, Globe Telecom was the third-best performing stock in the PSEi (Philippine Stock Exchange index) with a year-to-date gain of 13.6%. We believe the company was one of the most actively traded stocks as investors locked in their gains and perhaps rotated to some of the laggards,” said Philippine National Bank (PNB) Senior Equity Research Analyst Jonathan J. Latuja in an e-mail.

“Consequently, Globe Telecom was the second-worst performing stock in the PSEi last week,” he added.

In a regulatory filing earlier last month, the Ayala-led telecommunications company reported its core net income for the first quarter — which excludes the impact of non-recurring charges, one-time gain, foreign exchange gains and mark-to-market charges — stood at P6.6 billion, a 3% decline from P6.73 billion in the same period a year ago.

Earlier last month, the Ayala-led telecommunications company reported a three-percent decline in its first-quarter core net income — which excludes the impact of non-recurring charges, one-time gains, foreign exchange gains, and mark-to-market charges

“The implementation of the extended community quarantine partially affected Globe’s performance in the first quarter. We expect earnings to further decline in the second quarter as the stay-at-home measure resulted in a reduction in mobile data usage,” Mr. Latuja said.

“However, the surge in demand for home broadband will partially offset the weakness of the mobile segment. We expect that the company will continue to preserve its cash in favor of funding its monthly operating expenses and working capital. We expect full-year 2020 earnings to decline by four percent,” he added.

Globe said its capital expenditure guidance for the next quarter would likely be lower by at least P2 billion from the first quarter’s spending given the delays it is experiencing with its network rollout due to the community quarantine.

“Investors might continue to take profits on Globe as investors participating in [the stock market rally] might prefer to take advantage of stocks that have not yet significantly bounced from their lows,” Mr. Latuja said.

In a separate e-mail, Mercantile Securities Corp. Analyst Jeff Radley C. See noted Globe’s slight drop in net income, but said this was expected due to the adverse effects brought by the pandemic.

“The company has limited movement thus having a slight weakness in its financials. I am not afraid for Globe with their second-quarter income since they are not that affected by the pandemic as compared to other industries,” said Mr. See.

Mr. See placed the stock’s support and resistance levels at P2,080 and P2,300, respectively.

For his part, PNB’s Mr. Latuja provided a discounted-cash-flow target price of P2,330, or a 7.4% upside based on Friday’s closing price.

Winging it: Paris gallery keeps visitors apart with extension hats

PARIS — An art gallery in Paris has sought inspiration in ancient China to help it enforce social distancing, by providing hats with winged extensions for visitors.

The colorful papier-mâché hats are modeled on headgear from the Song dynasty, which ruled China between 960 and 1279, with extensions just long enough to keep wearers the one meter (three feet) apart stipulated in France’s COVID-19 regulations.

The first Song emperor is said to have ordered his officials to wear winged hats so that they could not gossip without being heard.

“Back in the day, these were worn to prevent public officials from whispering,” Dominique Pouzol, who designed the hats for the 59 Rivoli gallery, told Reuters. “And so, there was already then this notion of social distancing.”

Some of Pouzol’s creations carry a political message too, painted in the colors of the rainbow is a nod to gay rights.

“The hats are to protect us from COVID-19,” Pouzol said. “But I said to myself perhaps they can also shield us from… human viciousness, from small-minded people.” — Reuters

Bustos Dam rehab given green light

REHABILITATION of the damaged Bustos Dam in Bulacan has been approved for repairs under warranty, the National Irrigation Administration (NIA) said.

In a statement Sunday, NIA said a coffer dam will be constructed as a temporary replacement for the damaged Rubber Bladder in Bustos Dam’s Bay No. 5.

The NIA said the construction of the coffer dam will be executed by the consortium of ITP Construction, Inc. and Guangxi Hydroelectric Construction Bureau Co. Ltd.

NIA inspected Bustos Dam on May 13.

It said the contractor has completed all preparatory works to repair the dam’s rubber bladder.

The Notice to Commence Work was issued to the contractor after NIA approved the plans from the Regional Office.

The dam’s damaged rubber bladder is covered by the contractor’s 20-year warranty policy which is in force until 2037. — Revin Mikhael D. Ochave

SEC to limit physical contact in pandemic

The Securities and Exchange Commission (SEC) will be limiting the physical operations of its registration department to select services as the coronavirus disease 2019 (COVID-19) pandemic persists.

In a notice on its website, the corporate regulator said it would be accommodating most services related to company applications via e-mail, despite resuming work for its Company Registration and Monitoring Department (CRMD) at the SEC headquarters.

Examples of services to be entertained through e-mail are petitions to lift order of revocation/suspension, submissions of supplemental requirements for registrant corporations, applications for amendment of articles of incorporation, and requests for issuance of certificate of paid up capital.

The physical operations of CRMD will be limited to receiving proof of payment and documents related to the processing of a company’s registration, releasing of certificates of incorporation, releasing of orders such as petitions to lift order of suspension, and registration of stock and transfer/membership book.

“These guidelines and procedures shall take effect immediately and until further notice as the general quarantine situation improves,” the SEC said.

The SEC reopened CRMD for physical operations since the last week of May, but on limited operating hours: Monday to Thursday, 9:00 a.m. to 4:00 p.m.

Before reopening parts of its physical office, the regulator has maintained remote operations through the duration of the lockdown to accommodate corporate transactions.

While its CRMD office is back to physical operations, the SEC continues to observe safety protocols such as wearing face masks and maintaining physical distancing to protect its personnel from contracting COVID-19.

It has also started requiring companies to submit annual reports, audited financial statements and general information sheets via courier to limit face-to-face interactions.

In a May 11 memorandum circular, the SEC said it is implementing these stringent measures to “provide adequate protection to the frontline service personnel… from undue exposure to the risk of COVID-19.”

Quarantine measures in Metro Manila have eased twice since May to restart the economy despite the ongoing threat of the coronavirus. The Health department reported 714 new COVID-19 cases on Saturday, bringing the country’s total to 21,340. The virus has so far killed 994 in the Philippines. — Denise A. Valdez

T-bill, T-bond rates likely to slip

RATES OF government securities on offer this week will likely decline slightly on ample demand and as bond yields settle near the headline inflation rate.

The Bureau of the Treasury (BTr) on Monday will auction off P20 billion in Treasury bills (T-bills), broken down into P5 billion each in 91- and 182-day papers and P10 billion in 364-day securities.

On Tuesday, the BTr will offer P30 billion in reissued three-year Treasury bonds (T-bonds) carrying a coupon rate of 3.5% and with a remaining life of two years and 10 months.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort expects rates for the T-bills to be “steady to slightly lower” while a bond trader said these will likely move “sideways with slight downward bias of around five basis points (bps).”

“Some of the PHP BVAL (Bloomberg Valuation Service) yields have already gone down so much to the point that some tenors are already close or even below the inflation rate of 2.1% (in May). Thus, any further easing could be limited in view of this,” Mr. Ricafort said Sunday via Viber, adding that yields below the inflation rate are already considered “negative rates” by investors.

“The latest auctions may be an indication that downward momentum of yields may be slowing down,” a bond trader said via Viber.

“While there is still some demand, the market starts to become cautious as the BSP (Bangko Sentral ng Pilipinas) stated that current monetary policy seems appropriate at the moment,” the trader added.

Last week, the BTr hiked the volume of T-bills it awarded to P26 billion from the original P20-billion program as bids soared and rates moved sideways.

Broken down, it raised P7 billion via the 91-day T-bills, up from the P5-billion program, at a lower average of 2.046% compared to the 2.058% fetched in the auction last May 25. It also borrowed P5 billion as planned from 182-day T-bills at the average yield of 2.118%.

Meanwhile, it accepted P14 billion in 364-day papers from the programmed P10 billion at an average rate of 2.42%, down from 2.508% previously.

For the three-year T-bond auction, Mr. Ricafort said yields could range between 2.4% and 2.5% while the bond trader sees it settling within 2.55% to 2.7%.

The BTr fully awarded the P30 billion in reissued three-year bonds it offered on May 12 at a lower average rate of 2.946%.

At the secondary market on Friday, the three-month, six-month and one-year T-bills fetched rates of 2.072%, 2.171% and 2.454%, respectively, while the three-year T-bond was quoted at 2.582%, according to the PHL BVAL Reference Rates.

Mr. Ricafort said there is still room for the BSP Monetary Board (MB) to slash benchmark interest rates by 25 bps considering benign inflation and also “to prevent a situation of net negative interest rate” where inflation, serving as the floor for key rates, will be higher than net interest rate returns.

“Fundamentally, key local policy rates, net of taxes, should remain above the inflation rate (as a floor) to maintain positive net interest rate return for investors,” Mr. Ricafort said.

“Short-term local interest rate benchmarks (PHP BVAL yields), the 7-day TDF (term deposit facility) auction yields, and the Treasury bill yields recently have been slightly above 2%, way below the key BSP overnight rate currently at 2.75%, already a new record low, meaning the markets have already factored in a possible cut in local policy rates,” he added.

BSP Governor Benjamin E. Diokno last week said the MB sees current benchmark rates as appropriate, saying further action will be based on the recovery of the economy.

The MB has slashed rates by a total of 125 bps so far this year after the 75 bps in reductions delivered in 2019.

Benchmark rates are currently at record lows, with the overnight reverse repurchase rate at 2.75% and the overnight deposit and lending rates at 2.25% and 3.25%, respectively.

“Sentiment on the local financial markets this week has been largely supported recently by S&P’s affirmation of the Philippine credit ratings at 2 notches above the minimum investment grade with stable outlook, despite the downgrade on some countries worldwide, thereby a sign of resilience and a strong vote of confidence by international investors on the country’s relatively stronger economic and credit fundamentals in recent years,” Mr. Ricafort said.

The government plans to borrow P170 billion from the local market in June: P110 billion via weekly T-bill auctions and the remaining P60 billion in Treasury bonds to be offered fortnightly. — Beatrice M. Laforga

Mist calls

Toyota welcomes you back with Bactaklenz

THE MUCH-ABUSED term “new normal” covers all manner of adjustments and changes to our previous lifestyle that now seems so distant. Far from being a catchy, well, catchall, “new normal” is also used to describe protocols that are, quite simply, unprecedented for any generation living through these strange times.

Going out of the house? Don’t forget your face mask, face shield, disposable gloves, and, yes, a bottle of sanitizer or 70% isopropyl alcohol solution. And when you get back home, remember to sanitize everything you brought out. Leave them by the front door (don’t wear your shoes indoors), wash your hands, shower thoroughly, etc.

It can get downright tedious, to be sure, but the alternative courts infection and maybe worse.

If you’re lucky to have a vehicle, the responsibility of sanitization and disinfection extends to your transportation. Cognizant of this, Toyota Motor Philippines Corporation (TMP) is conscientiously doing its part to protect its customers and people through an appropriately called “Welcome Back” promo for its after-sales service customers.

This involves the use of its proprietary Toyota Bactaklenz, “an anti-bacterial treatment proven to eliminate 99.99% of bacteria, molds, and fungi inside the vehicle which can cause allergy and other health concerns. Based on medical research and studies, sage oil, which is one of its active ingredients, is found to be effective in reducing the spread of common colds and influenza,” according to a TMP release. The product is also said to eliminate cabin odor and foul smell.

The company says that bacteria and fungi “will start to breed in condensing ducts when the air-conditioner is switched off,” and over time, these might grow to “hazardous levels.” While you consider that, TMP also reports that “when a person sneezes or coughs, bacteria droplets are drawn into the air-conditioner through the intake and reticulated out through the vents which will potentially spread the virus to a secondary person.” Of course, normal cleaning activities cannot hope to address this.

Talk Box reached out to TMP First Vice-President for Customer Service Operations Rainnier Gregorio, who asked our Bactaklenz questions via e-mail. To start off, he said that the product “received technical approval from Toyota Motor Asia Pacific, and is safe to use inside the vehicle.” The treatment is applied using a misting system.

TALK BOX: Do I have to wait for it to dry? Is it not dangerous to inhale? How about for pets? Does it leave a scent?

RAINNIER GREGORIO: Based on the treatment process, the purging/misting of the solution will only take 30 seconds. However, we need to wait for 10 to 15 minutes for the mist to subside before we turn over to the customer. Though it is safe, based on SOP no one should be sitting inside the vehicle during treatment. After the treatment, it will leave a slight pine scent and no unpleasant or foul odor. Its effectiveness can last up to three months.

When is my vehicle misted — upon arrival or prior to turnover, or both?

It is recommended to perform the misting during the delivery process (prior to turnover).

Are there plans to roll out the technology to all TMP dealerships?

This service is already available in dealerships. If a dealership doesn’t have Bactaklenz, they have existing contracts with other antibacterial brands/suppliers. These vary from dealer to dealer.

Toyota owners are entitled to a free Toyota Bactaklenz Vehicle Interior Sanitation Treatment when they avail of any or a combination of the following services at participating Toyota dealer outlets during the promo period: periodic maintenance, general service, and body and paint.

For more information, visit https://toyota.com.ph/promos/bactaklenz.

Doing Good: stepping up during a lockdown

The Philippines has eased lockdown restrictions in Metro Manila and several other provinces as the country tries to restart and salvage an economy flattened by the pandemic. But the pandemic is still a clear and ever-present danger to the populace. Here are a few more stories of people protecting our frontliners and other Filipinos.

ARANETA CITY
The J. Amado Araneta Foundation, the social arm of Araneta City, gave squash and vitamin boosters to close to a thousand security, sanitation, and maintenance personnel serving Araneta City on May 31 and June 1.

The squash were donated by Kay Jonatas of the Kalabasa Project which helps squash farmers in Nueva Ecija to sell their produce during the crisis. The vitamin-booster juice drinks were donated by the family of Theresa Vialu.

“It’s a win-win situation for us. We are able to take part in the Kalabasa Project’s mission to help squash producers, and at the same time, provide something valuable to reward and safeguard the health of Araneta City frontliners. This initiative has allowed us to reach out to a lot of people in these challenging times,” Diane Romero, the foundation’s executive director, said in a release.

AYALA FOUNDATION
Ayala Foundation, in partnership with the National Historical Commission of the Philippines produced the “Magiting mask,” a face mask featuring the colors of the Philippine flag and the eight-rayed sun. The masks were created in celebration of National Flag Day on May 28.

The foundation aims to distribute the masks to frontliners and essential workers as it was made to honor those “who are making a huge sacrifice for the nation to contain the spread of the pandemic,” said a release.

The historical commission said that this year, they are distributing the face masks instead of small flags. Its commissioner, Rene Escalante hopes that when people see the masks they are reminded of the heroism of the revolutionary Filipinos in 1898 and the heroism of the COVID-19 frontliners.

GLOBE TELECOM
Globe myBusiness continued its “Heroes for Heroes” program by providing meals for frontliners in small, medium enterprises specializing in groceries, logistics, and medicine.

The program, now on its third and fourth cycle, was initially meant to provide food for medical frontliners while helping food businesses keep afloat. This has since expanded to other frontliners as the program distributed food packs to 20 businesses like Merry Mart Grocery, Kemp Mart, Unitop Supermarket, Ansaldo Logistics, and Amesco Drugstore. The meals were fully funded by Globe myBusiness and provided by partner restaurants like 121 Restaurant, Northpark Noodles, Bigg’s Diner, Burger Project, and Tuesday Kitchen.

“While hospitals are taking care of COVID-19 patients, employees working in supermarkets, groceries, logistic platforms, and drugstores risk their lives daily to serve those under quarantine. We would like to express our gratitude to them by making sure they have the resources they need to stay healthy,” said Celeste Porto, marketing head at Globe myBusiness, in a statement.

RICO BLANCO
Singer Rico Blanco, former frontman of the band Rivermaya, performed a special cover of the band’s 2005 hit “Liwanag sa Dilim” in support of the BayaniHands project of P&G Safeguard for the Philippine National Red Cross. The song was initially featured in the video launching the project and is meant to honor the frontliners.

The project aims to raise funds for frontliners which include buying personal protective equipment.

Mr. Blanco was touched by the use of the song that he recorded at home.

“In support for the BayaniHands project where they raise funds for the frontliners through the Philippine Red Cross, I thought to make a quarantine version of “Liwanag sa Dilim” to honor our modern-day heroes,” Mr. Blanco said in a statement.

Those who want to support the project can do so by buying donation vouchers on Lazada at https://lzd.co/BayaniHands.

Carabao center launches food security, livelihood programs in Nueva Ecija

THE Philippine Carabao Center (PCC) said it launched four projects in Nueva Ecija to address food security issues and generate livelihood for farmers in response to the disruption caused by the coronavirus disease 2019 (COVID-19) pandemic.

In a statement, the PCC said that it signed a Memorandum of Agreement (MoA) with San Jose covering its activities in the city.

PCC Executive Director Arnel N. del Barrio said the initiatives target displaced farmers and promote urban agriculture during the pandemic.

It distributed 10 carabaos for fattening to the Tayabo-Agro Entrepreneur Natures Innovators Movement under a milk and meat production program.

A ruminant research clinic was also inaugurated, which will provide technical and veterinary services to farmers and carabao owners.

A second project promotes urban agriculture.

“We will be using fertilizer from animal manure in our soil, plant and harvest for acquisition of food for people as well as for our carabaos which are a source of milk, meat, and organic fertilizer,” Mr. Del Barrio said.

The PCC also launched a buffalo milk rolling store offering milk and dairy products to consumers in selected cities and towns.

The third project focuses on providing technology and product innovation training to farmers, including the development of two new Milka Krem products, Milky Bun and Milk Pops.

Both products use carabao milk, which is claimed to boost immunity.

The fourth project provides e-learning and digitized training materials enabling sustained access to information, education, and communication for members of the carabao industry. — Revin Mikhael D. Ochave

Peso to strengthen on data showing recovery

THE PESO is likely to strengthen further this week as the market prices in data showing the economy is off to a gradual recovery and await developments in legislation on the government’s crisis response.

The local unit finished trading at P49.80 per dollar on Friday, strengthening by 20 centavos from its P50 close on Thursday, according to data from the Bankers Association of the Philippines. This was the peso’s strongest finish in nearly three years or since its P49.63 per dollar close on June 15, 2017

The local unit also rallied by 81 centavos week on week from its P50.61-per-dollar finish on May 29.

Despite the increase in the country’s unemployment rate in April, the continued easing in inflation may have fanned positive sentiment, said UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion.

“Peso was stronger most probably because of the softer inflation. The unemployment numbers may have already been priced in by investors though,” Mr. Asuncion said in a text message.

Inflation eased for the fourth successive month in May to 2.1%, with downward pressures from food and fuel prices, according to data from the Philippine Statistics Authority (PSA).

The May print is the slowest in six months and compares to the 2.1% logged in April and the 3.2% seen in the same month of 2019.

Meanwhile, the unemployment rate in April surged to a 15-year high of 17.7% coming from the 5.1% a year earlier and the fastest since 2005 when the PSA adopted new definitions for its labor force survey. This translates to about 7.25 million Filipinos who were jobless, higher by more than three times than the 2.27 million in the same month of 2019.

For his part, Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort said the peso’s strength reflects improving risk sentiment for emerging market currencies as more economies reopen.

“The peso exchange closed stronger amid improved global market risk appetite that led to gains in emerging markets,” he said in a text message.

Investor sentiment this week will depend on the government’s response to the crisis.

“Probably the progress of fiscal stimulus bills may be a factor,” UnionBank’s Mr. Asuncion said.

On June 3, the Senate approved the Bayanihan Act 2 which expands financial aid to industries including farmers, public utility drivers, teachers that have been hit by the pandemic.

Meanwhile, the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill which looks to fast-track the reduction of corporate income tax to 25% from 30% was unable to be passed before the Congress adjourned. Senators said they will work to ensure the bill is passed by August.

Aside from the bills, RCBC’s Mr. Ricafort said the market will also factor in other data, including US jobs and new coronavirus infections.

Data from the US Labor department showed the jobless rate fell to 13.3% in May from the post-World War II high of 14.7% seen in April, according to a Reuters report.

However, the unemployment rate was seen with record decline for whites but rising for blacks and Asians.

For this week, both Mr. Asuncion and Mr. Ricafort expect the peso to trade at P49.50 to P50 versus the dollar. — L.W.T. Noble with Reuters

BMW PHL opens digital showroom, fires off 3-vehicle salvo

SMC ASIA Car Distributors Corp. (SMC ACDC), the official importer, distributor, and service provider of BMW vehicles in the Philippines, is veritably firing on all cylinders as it announced the opening of its digital showroom https://bethefirst.bmw.com.ph/digitalshowroom recently to select members of the media. In addition to this, BMW Philippines, led by its President Spencer Yu, also revealed three new vehicles now available across its dealership network.

BMW 520i SPORT
Moved by a 2.0-liter, four-cylinder TwinPower Turbo engine, the BMW 520i Sport sedan serves up 184hp and 290Nm of torque. Its power is accessed by the driver through an eight-speed automatic with Steptronic. A new exterior design is highlighted by 19-inch light alloy V-spoke wheels with mixed run-flat tires.

Inside, it has Dakota leather upholstery, automatic dual-zone air-conditioning with extended contents, a smoker’s package, sport seats, and electric seat adjustment for the driver and front passenger (with memory function for driver’s seat). The 520i Sport has a BMW iDrive System, Apple CarPlay, a high-fidelity speaker system, ambient lighting, electric sunblind for the rear window, and manual rolling sun blinds for rear side windows. Pricing is at P4.29 million.

BMW X3 xDRIVE20d BUSINESS
The BMW X3 xDrive20d Business also boasts a refreshed exterior trim and design. It’s powered by a four-cylinder BMW TwinPower Turbo emitting 190ps and 400Nm. The engine is mated to an eight-speed Steptronic transmission with gearshift paddles.

As with the 520i Sport, this X3 is fitted with run-flat tires with indicator, and 19-inch light alloy wheels. LED headlights with extended contents, LED fog lights, and Park Distance Control (PDC) on the front and rear are among its other features.

Vernasca leather is used within, and BMW gives the X3 with ambient lighting, electric seat adjustment for front seats (with memory function for the driver’s seat). There’s also a storage compartment package, along with Apple CarPlay, BMW iDrive, a through-loading system, smoker’s package, and automatic three-zone-air conditioning. The rear side windows get mechanical sunblinds. It is priced at P3.99 million.

BMW Z4 M40i FROZEN EDITION
With only five units allocated to the Philippine market, the undeniable star of the three-model unboxing is a limited release of the BMW Z4 roadster, called the Frozen Edition.

Each unit features exclusive Frozen Grey II paintwork from BMW Individual. The 3.0-liter BMW TwinPower Turbo six-cylinder gasoline engine that powers it has been given 47 more horses (387hp) over its Z4 M40i sibling.

Inside, the Frozen Edition gets Vernasca Magma Red décor stitching, black upholstery, interior trim finishers Aluminium Tetragon, an instrument panel in Sensatec — to go with M Sport seats for the driver and passenger. It also gets electric seat adjustment with memory function, lumbar support for the driver and front passenger, M seat belts, floor mats in velour, and automatic dual-zone air-conditioning. There’s a BMW iDrive System, Apple CarPlay, and Harman Kardon surround sound system.

The BMW Z4 M40i Frozen Edition is priced at P5.99 million.

All these new BMWs have a now-standard five-year/200,000-kilometer warranty, which covers all mechanical and electrical components, except for preventive maintenance or wear-and-tear items. BMW says that “items and components covered by the warranty are always replaced by original BMW parts.” Declared Mr. Yu, “We believe that our five-year warranty across our lineup is the strongest of its kind for premium vehicles.”

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