Home Blog Page 8632

Luck, perseverance, and a good product

One Earth Organics has launched a line of serums to mix and match according to the user’s needs.

DIANA VREELAND once said: “Luck is infatuated with the efficient.” Tyffanie Short, CEO and founder of One Earth Organics, seems to have luck on her side, and the beauty products she sells (and uses), hide all the hard work that went into propelling the brand from Instagram to Beauty Bar and Watsons.

BusinessWorld attended the launch of One Earth’s Beauty Blends 5D last month in BGC. Beauty Blends 5D is a series of serums that one can mix and match according to their needs. The series includes Radiance (designed for intense brightening, made with grape extract, beta glucan, magnesium ascorbyl phosphate, and hyaluronic acid); Eternal (to combat aging, made with vitamins C and E); Clarity (exfoliation multitasker); Renascence (plumping and peeling), and Purity (ultra-hydration). The whole set costs P1,895, with each priced at P429.

Ms. Short’s products, according to her, use all-natural and organic ingredients. “It’s more potent.” Furthermore, the fact that she uses organic ingredients minimizes her environmental impact. She also engages in fair-trade purposes for her local ingredients, such as organic coconut oil.

It took four years for Ms. Short to launch this product, as she had been busy building the brand and letting the items hit shelves. The Filipino brand has some status via its selling activities on Facebook and Instagram, but that wasn’t enough for Ms. Short. “When you start online, people would always question your credibility.”

Ms. Short created the product in 2012, starting with an underarm kit — which includes a spray, a serum, and a cream — which she said began with her own insecurities with her underarms. In addition to that, she said that she suffered from psoriasis. Frustration with the products in the market for her sensitive skin led her to research on plant-based skincare ingredients. “I didn’t have a college degree,” she said.

Armed with an idea, she approached a friend who just so happened to have a laboratory and together, they developed the products. In the earlier part of the decade, she sold her skincare products online, as we mentioned; but also worked the bazaar circuit.

“The bazaars were a huge thing already for me.” In 2017, One Earth began to be stocked on SSI’s Beauty Bar shelves. Asked how she did it, she said, “It wasn’t easy. Beauty Bar was known to have all imported brands. When we got in, we were just the third local brand.”

She talked about the two months of preparation just to get to pitch their product, and the additional five months of preparation and negotiation to finally get them on the shelves. This helped them get to Watsons, which they only entered this year.

While it took them only a month to make their pitch this time (she said that their presence in Beauty Bar helped), six months went into the preparation and negotiation.

“Luck, prayers — we literally just went there, tried our luck, and presented,” she said — making the whole process sound simple (obviously, it was not).

Ms. Short mentioned being a single teenage mom at one point during the interview, and we’ve mentioned her lack of a college degree. That kind of story doesn’t usually end well in this country, but there she was at her launch, in one of this city’s skyscrapers, surrounded by friends and guests, and shelves and shelves of her beauty products.

“It started from my own insecurities. I just thought that I could help other women.” — Joseph L. Garcia

MPIC weighed down by Duterte remarks on water firms

By Mark T. Amoguis
Senior Researcher

PRESIDENT Rodrigo R. Duterte’s tirade against Metro Manila’s water concessionaires last week led investors to unload shares of Metro Pacific Investments Corp. (MPIC) as it is the controlling stakeholder of water firm Maynilad Water Services, Inc.

Data from the Philippine Stock Exchange showed 281.16 million MPIC shares worth P1.12 billion were traded from Dec. 2-6, making it the seventh most actively traded issue in the local bourse.

The stock was lower by 14.9% week-on-week to P3.66 per share last Friday, from P4.3 per share. Year-to-date, the stock is down 20.6%.

“The major factor that pushed MPIC’s price downward was the threat of President Duterte to charge Maynilad… with economic sabotage,” said PNB Securities, Inc. President Manuel Antonio G. Lisbona in an e-mail interview last Friday.

On the evening of Dec. 3, Mr. Duterte threatened to file economic sabotage cases against water concessionaires Manila Water Co., Inc. and Maynilad over supposed onerous provisions in their contracts with the government.

His threat followed Ayala-led Manila Water’s disclosure on Nov. 29 that the Permanent Court of Arbitration ordered the Philippine government to pay the company P7.39 billion, among others, for the losses incurred because of the Philippines’ breach of its obligation.

Salvador S. Panelo, chief presidential legal counsel and presidential spokesman, said on Wednesday Mr. Duterte directed the Department of Justice and the Office of the Solicitor General to draft and prepare new contracts favorable to the state.

Maynilad is 52.8% and 25.24% owned by MPIC and DMCI Holdings, Inc., respectively.

It primarily caters to west zone of Metro Manila, which is composed of the cities of Manila (certain portions), Quezon City, Makati, Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas and Malabon as well as cities of Cavite, Bacoor and Imus and the towns of Kawit, Noveleta and Rosario in the province of Cavite.

“Investors sold down MPIC shares pushing the price to below P4.00 on Dec. 4, 2019, a level we have not seen since 2012,” Mr. Lisbona said.

Following Mr. Duterte’s tirade, MPIC shares went down 10.7% to P3.92 per share last Wednesday, a level not seen in more than seven years or since its closing price of P3.80 per share last March 14, 2012.

“The news heavily impacted the water companies,” said AP Securities, Inc. Senior Research Analyst Rachelle C. Cruz in a phone interview last Friday.

“Most likely, this will put more pressure on the earnings of Maynilad as well as MPIC, the parent company. This has affected the sentiment especially MPIC because its portfolio is heavily regulated…” Ms. Cruz added.

In the third quarter, MPIC’s revenues increased by 3.3% to P21.98 billion. This brought the company’s top line for the first nine months to P66.6 billion, an 8.6% year-on-year gain.

Meanwhile, attributable net income in July to September reached P3.7 billion, 4.2% more than last year’s comparable three months. Year to date, it is down 5.5% to P11.8 billion.

Aside from water, MPIC has businesses in power, toll operations, health care, rail, and logistics, among others.

“I think, given that the selloff has already peaked, we might see some rebound especially some investors who might go bargain hunting already,” Ms. Cruz said moving forward.

Ms. Cruz placed the stock’s support and resistance levels at P3.5 and P4, respectively.

PNB Securities’ Mr. Lisbona pegged the stock’s support at P3.5 and resistance at P4.2.

“The situation is so fluid at this point but the odds are that the direction will be more biased downwards,” he said.

MPIC is one of three Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being PLDT, Inc. and Philex Mining Corp. Hastings Holdings, Inc. — a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc. — maintains interest in BusinessWorld through the Philippine Star Group, which it controls.

DBP opens soft loan program for irrigation, water supply projects

DAVAO CITY — Government-run Development Bank of the Philippines (DBP) has opened a soft loan window for local government units (LGUs) as well as cooperatives in Mindanao for water supply systems and irrigation projects.

Rogelio V. Garcia, one of the DBP’s directors, said they will offer credit at an interest rate of 3.5% to 4% per annum, lower than the usual 6.5% to 7%.

Mr. Garcia, speaking at the official launch of the MinDA Water Supply Program Friday, said the payment period will also be more flexible.

“(The) basic length of the loan term of DBP is between seven to 10 years, but we can, of course, make some extension… depending on the project,” he said.

“The water problem that we have in Mindanao… is a problem from long time ago, but nobody gave attention to it… Depending on the application, we can go as much as what is needed,” said Mr. Garcia, who comes from Mindanao.

The program, an initiative of the Mindanao Development Authority (MinDA) and in partnership with the Department of Interior and Local Government (DILG), is intended as a contributing mechanism for economic development, peace, and poverty reduction, especially in remote areas.

Secretary Emmanuel F. Piñol, MinDA chair, said LGUs and cooperatives can pursue the projects as a business venture to “recover their investments” and help pay for the loan.

COMPOSTELA VALLEY
Among the first LGUs to express interest in availing of the program is Compostela Valley province, soon to be officially renamed Davao de Oro, which is now finalizing a P300-million bulk water project that will cover three towns.

Mr. Piñol said he has already discussed the project with Governor Jayvee Tyron L. Uy and MinDA provided the provincial government a P500,000 fund from its savings to draft the feasibility and engineering study.

“ComVal is actually looking at a P300-million loan to provide water to Nabunturan (the capital) and two other towns,” said Mr. Piñol during the program launch.

MinDA and the local government are awaiting a resolution from provincial board that will authorize Mr. Uy to sign the deal.

Mr. Piñol said MinDA is also planning to tap foreign and international development agencies for similar funding programs that will help LGUs, especially those in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).

Among the water-related projects being eyed for the region are desalination facilities in island communities. — Carmelito Q. Francisco and Maya M. Padillo

Steady progress in the automotive industry

AS THE AUTOMOTIVE industry recovered from the challenges of the previous year and have reached stable growth with new and upgraded releases this 2019, insights have further shed light on the activity of carmakers and the choices of the driving public.

Consolidating figures from distributor groups Association of Vehicle Importers and Distributors (AVID), Chamber of Automotive Manufacturers of the Philippines (CAMPI), and Truck Manufacturers Association (TMA), AutoIndustriya.com reported last July that the Philippine automotive industry accumulated a total of 195,057 units sold for the first half of the year.

This meant an improved performance by 1.87% compared to the same period last year, which tallied 191,470 units.

Commercial vehicles — which include car types like sport utility vehicles, light trucks, and bus trucks — still took the large share of the market with 131,708 units. Passenger vehicles, on the other hand, had 63,349 units.

Among the leading players in the market, AutoIndustriya continued, Toyota Motor Philippines remained the top manufacturer with 37.49% of total units sold in the January-to-May period. This was followed by Mitsubishi Motors with 15.68% of the units; Nissan Philippines, Inc. with a 10.8% share; Hyundai Philippines with 9.05%; and Ford Motor Company Philippines, Inc. at 5.76%.

Meanwhile, as the year nearly wraps up, auto sales kept on a positive trend albeit a momentary decline. The sales have been growing since February. However, after recovering in June with a year-on-year increase of 8.7%, the data jointly gathered by CAMPI and TMA recorded a “seasonal” drop of 2.4% (29,599) last August, as reported by BusinessWorld. Sales recovered the following month with a 2.3% y-o-y growth to 31,820 units, as well as a 7.5% increase from total sales in August.

So far, the data continue to reflect a steady growth as overall sales rose by 8.1% to 34,397 units last October.

CAMPI President Rommel R. Gutierrez is optimistic about this sustained growth. “We remain positive that our industry target for the end of the year will be achieved as all brands remain committed to provide innovative mobility solutions to the Filipino people,” he was quoted as saying in a statement.

In relation to innovative solutions, it must have been apparent that connected cars — vehicles that are connected to the Internet through a mobile data stream — have started appealing to the driving market.

“Connectivity has been a key enabler for automakers like Ford to offer greater level of comfort, convenience and safety to car owners,” said Linus Mattson, infotainment supervisor of Ford Asia Pacific, in a report by Newsbytes.ph.

These connected automobiles have expanded their capacities to the point of giving access right at the fingertips of motorists holding their smartphones. And such advancements have come just in time, as recent research by Euromonitor International suggests.

“Strong economic prospects and government policies seeking to boost the performance of the automobile industry have created a positive platform for the further development of in-car entertainment in the Philippines,” the global market research company wrote. “The domestic economy is projected to grow substantially in the coming years thanks to investment from foreign companies and rising government and consumer spending.”

ONLINE SHOPPING AND AUTO LOANS
Aside from the monthly stream of data on car sales, there were further insights regarding the automotive industry mined by local online automotive marketplace AutoDeal in its quarterly Philippine Automotive Industry Report.

The latest release of the report noted the consumers’ “heightened interest in several Chinese brands such as MG, Foton, BAIC, GAC, and JAC.”

“This has been particularly evident in the subcompact crossover segment where models like the MG ZS and the JAC S2 have given more established household brands a run for their money,” Christopher Franks, chief operating officer of AutoDeal, wrote in the report. “With competitive price points, these nameplates have struck at the heart of a segment that is still recovering from a substantial drop in consumer interest following last year’s increase in excise taxes.”

Furthermore, he noted the prominence of online marketplaces as “one of the most valuable research commodities for consumers.”

Analyzing the volume of pages on AutoDeal visited by consumers before making a purchase, the report found out that “consumers with a single interest only navigated to three pages before making a purchase whereby in comparison, consumers who were interested in multiple brands visited 60”.

In terms of leads, the Asian Utility Vehicle & Multi-Purpose Vehicle, subcompact car, and light pick up truck are the leading market segments. Among automakers, Toyota remains the most inquired brand with more than 30% of total inquiries. This was followed by Honda, Mitsubishi, Suzuki, Nissan, Ford, Isuzu, and Hyundai.

Another interesting trend within the year was a finding by India-based market intelligence analysis firm Ken Research about auto loans. The research stated that “it is expected that by the end of 2023, outstanding auto loans in the Philippines could reach P4.7 trillion.”

What makes this spike in loans possible are a mix of factors. An easy access to vehicles through loans offered by banks and dealers have been observed, with streamlined processes in applying for such. Add to that an increase in the middle-class sector who have “higher purchasing power”.

“Credit disbursement will increase as more people become part of the banking system. Both banks and nonbanking institutions are targeting these segments in the most untapped areas, which will result in a steady increase in auto loan disbursements for these segments,” Ken Research was quoted as stating in a report by Visor. — Adrian Paul B. Conoza

PhilMech studying ways to reduce sweet potato harvest losses

THE PHILIPPINE Center for Postharvest Development and Mechanization (PhilMech) said it is studying how to reduce losses in the sweet potato harvest to reduce damage to the produce, which depresses the prices farmers can obtain.

According to a study by the agency, postharvest losses for sweet potato range from 31.21% to about 33% due to “inefficiency of existing manual and labor-intensive harvesting methods.”

“The harvesting operation of sweet potato can be mechanized using an efficient mechanical root crop harvester that can eventually reduce labor requirements and losses on uncollected roots,” PhilMech added.

PhilMech said sweet potato is the seventh most important crop in the world, and the third most important in the Philippines after rice and corn. It is usually planted to tropical and sub-tropical countries, specifically in areas with less productive soil.

A typical harvest requires 30 to 50 workers per day over two days, leading to significant crop damage, lowering the viability of the future crop.

“Harvest losses due to uncollected and mechanically-damaged roots ranged from 15.96 %to 17.94 % of the marketable harvest,” the agency said, adding that other losses are due to the transportation of the harvest from farm to market.

At the farmer level, the average postharvest loss is 16.95% and 0.82% in losses of unharvested crops. At the wholesale level, 3.93% of postharvest losses are due to cleaning and rebagging, which largely eliminates the weight of the peel. At retail, 10.39% of postharvest losses are reported due to spoilage.

PhilMech is evaluating a tractor-drawn device developed by the Philippine Root Crop Research and Training Center at Visayas State University in Leyte and has recommended its commercialization.

According to the Philippine Statistics Authority sweet potato output increased 1.4% to 134,060 metric tons (MT) in the third quarter, with Eastern Visayas accounting for the bulk of production at 35.2% or 47,220 MT. This was followed by Bicol Region (11.3%) and Caraga Region (9.1%). — Vincent Mariel P. Galang

Gender fluid retail: Someday there might not be a menswear department

WHILE gender-free clothing has been on runways and in fashion magazines for years, building a retail space around the concept was until recently seen as financially risky. Now, some companies are out to prove that the cultural fulcrum has shifted enough to give it a try.

According to Pew research, 35% of Generation Z knows someone who identifies as non-binary and prefers gender neutral pronouns — and millennials and even Generation X aren’t far behind. Retailers, and in particular clothes sellers, have taken notice.

“I do believe gender-neutral fashion is the future,” Fashion Institute of Technology Professor Dawnn Karen said. “I feel like we’re moving towards that.”

Holding itself out as the first gender-free store in New York, The Phluid Project in Manhattan’s Soho neighborhood is part of this nascent segment. The space is a combination store, café, and event space geared toward the LGBTQ community.

Phluid Project founder Rob Smith, 54, spent 30 years as a retail executive before opening the store. While Phluid has been up and running a few years now, only recently has the concept of making a commercial go of gender-free clothing spread to bigger corporate retail.

The ascent of Generation Z, Smith explained, is the moving force.

“There is a paradigm shift that is currently happening in our society. An unlearning and a relearning,” Smith said. “By next year, Gen-Z [will account] for one-third of the national population, which accounts for 40% of US spending power. It’s time to change with the times and generations, because their voice and power is undeniable.”

“It became clear to me,” Smith said, “that there was a need to shatter the historic infrastructure of companies we’re operating under.”

On a visit to the Phluid Project earlier this year, there were none of the traditional signs to send you to specific clothing departments. Non-gendered mannequins stood atop tables, sporting dresses, pants, shirts, and graphic tees that say, “They Power,” a reference to the pronoun preference of many non-binary individuals.

The company said that, after spending its first year establishing the brand and a unique open sales floor experience, it’s now looking to better develop social media and e-commerce platforms, as well as strategic partnerships.

This summer, Phluid partnered with HBO and its series Euphoria, a drama about growing up in Gen Z America, and set up several pop-ups across the country, offering shoppers a capsule collection and panel discussions. Phluid also has a partnership with French clothing label Equipment on a gender fluid collection.

Big clothing retailers like H&M are starting to incorporate gender fluidity into a larger retail strategy, launching collections such as Denim United and last year’s collaboration with Eytys. Still, H&M doesn’t plan to completely eliminate gendered clothing or gendered clothing sections. LVMH-owned Sephora also started a campaign this summer aimed at an image of broader inclusiveness.

Fifty-six percent of Gen Z consumers already shop outside of their gender, ignoring clothing that’s labeled and categorized into gendered sections, according to a study by advertising agency J. Walter Thompson. Smith is very much acquainted with how those decisions are made. Before the Phluid Project, he worked for Nike, and eventually moved on to become an executive vice-president at Macy’s, and then Victoria’s Secret. He also served on the board of shoe-seller Steve Madden.

“I started to share the idea with friends and business partners and got a cold reaction,” Smith said of the Phluid Project’s beginnings. “It is difficult, and understandable, to go to investors with an unproven concept.”

“Other brands have to worry about losing customers because their concepts and missions are often antiquated,” Smith said. “We are a blank canvas.”

His store not only sells gender neutral clothing: it seeks to guarantee that its clothing comes from designers who support the gender-free clothing mission. The store’s original clothing only makes up 50% of its inventory. The rest is made by designers aligned with the company’s mission and concept. The store doesn’t shop vintage or buy from wholesale.

The Phluid Project isn’t the lone retailer in this space. Labels such as Radimo and Official Rebrand — which emphasizes sustainability — are on the same path.

According to Business of Fashion’s 2018 State of Fashion research, 66% of millennials worldwide are willing to spend more on brands that are sustainable. In response to this data, Official Rebrand is “turning unsold goods into new, one-of-a-kind collections,” said MI Leggett, its founder. Official Rebrand modifies donations with design and alterations, including by painting clothing with phrases and figures.

“The first pieces came from my own closet,” Leggett said. “Now I take clothing donations from friends, family, and clients commissioning custom work.” — Bloomberg

Cavite-Manila ferry service launched; free rides until Jan. 9

THE government on Sunday launched a ferry service between Cavite and Metro Manila, offering free rides until Jan. 9.

The Department of Transportation (DoTr) said in a statement the ferry service will operate to and from the Metrostar Ferry Terminal in Cavite City to Cultural Center of the Philippines (CCP) Port in Pasay City. Another route will be operated from the Metrostar Ferry Terminal to Lawton (Liwasang Bonifacio) in Manila and vice versa.

The routes will be operated by Shogun Ships Co., Inc. and Seaborne Ferries, Inc. Both shipping companies agreed to offer free rides during the first month of their operations starting Dec. 9 until Jan. 9 next year.

The DoTr said the “water jeepneys” will cut the usual three- to four-hour travel time from Manila to Cavite to just 15-20 minutes.

After Jan. 9, the regular fare for adults for the Cavite-CCP route, which will be operated by Seaborne Ferries, is P200. Fares for students, senior citizens, and children will be P160, P143, and P125, respectively.

As for the Cavite City-Lawton route, which will be operated by Shogun Ships, fares will be P160 for adults, P128 for students, P114 for senior citizens, and P80 for children (4-11 years old).

There will be eight trips daily between Cavite City and CCP from 6:00 a.m. until 6:30 p.m. The Cavite City-Lawton route will have six trips daily from 5:15 a.m. until 7:00 p.m. — Arjay L. Balinbin

Record-high reserves to boost peso, liquidity

THE RECORD-HIGH level of dollar reserves held by the central bank will bode well for the local unit’s strength versus the dollar and for liquidity, according to economists.

The Bangko Sentral ng Pilipinas (BSP) on Friday released preliminary data which showed that gross international reserves (GIR) amounted to $86.393 billion as of end-November, up by 0.65% from the $85.834-billion level in end-October and also an increase by 14.15% from the $75.682 billion seen a year ago.

This marked the third straight month of continued increase in the GIR level.

“Sustained recovery in BSP’s foreign reserves probably resulted from intervention by the monetary authorities in the spot market to avoid an overshoot of the P50 level. This helped bolster overall liquidity further while avoiding the side effects of rapid peso strengthening,” Bank of the Philippines Islands Lead Economist Emilio S. Neri said in a text message to BusinessWorld.

This was echoed by Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort.

“Record-high GIR fundamentally provides greater buffer/support for the peso exchange rate versus the US dollar,” he said in a text message.

“Higher GIR recently brought about by continued growth in OFW (Overseas Filipino remittances), BPO (business process outsourcing) revenues, foreign tourism receipts, POGO (Philippine Offshore Gaming Operator) revenues, as well as continued inflows of foreign investments into the country.

Latest data from the BSP also showed that gold reserves in the central bank, which are also included in the country’s foreign exchange buffer, was seen at $8.015 billion, unchanged for the sixth consecutive month since May. However, it stretched by 3.08% from its end-November 2018 level of $7.776 billion.

BSP data showed gains from the central bank’s investments abroad, which make up the bulk of the reserves, dipped to P73.466 billion from end-October’s $73.689 billion but still bigger compared to the $61.317 billion a year ago.

Meanwhile, foreign currency deposits grew to $3.169 billion from $2.385 billion in the succeeding month. It was also lower than the $4.932-billion level traced in end-November 2018.

Net international reserves, which refer to the difference between the BSP’s GIR and total short-term liabilities, rose by $560 million to $86.38 billion as of end-November from the end-October level of $85.82 billion.

Remittances are expected to rise in the holiday season. Latest BSP data showed that cash remittances jumped to $2.379 billion in September, an increase of 6.24% from the $2.237 billion in the same month a year ago.

Meanwhile, data from the Bureau of Internal Revenue showed the government collected $1.6 billion worth of withholding taxes from workers of POGOs and service providers from January to August. — L.W.T. Noble

2019’s notable rides

THERE WAS A PRETTY GOOD mix of vehicles introduced in the country this year. There are some that exude sophisticated styling with superb exterior, spectacular cabin quality, and excellent ride comfort. There are also newly arrived autos that are more likely performance-oriented, delivering strong performance numbers, great turbocharged engines, and sharp handling, among others. Some of the vehicles, otherwise, are a combination of these impressive qualities.

Despite some uncertainties in the local automotive market this year, one thing is for sure, there is a handful of worthwhile automotive arrivals in the country to choose from. Here, in alphabetical order, are some of them:

FORD EVEREST
Last August, Ford Philippines launched a new and refreshed version of its popular mid-sized sport utility vehicle (SUV) Everest, coming up with improved capability, safety, and efficiency, as well as notable enhancements to its engine, transmission, and driver-assist technologies.

This Ford Everest is powered by the new-generation 2.0L Bi-Turbo diesel engine that delivers 213PS and 500 Nm of torque, and 2.0L Turbo diesel engine that delivers 180PS and 420 Nm of torque. It offers better fuel efficiency and acceleration with the advanced 10-speed automatic transmission.

Engineered with the driver and passengers in mind, the new Everest offers smarter and safer features. Among others, it has a smart keyless entry and push-start button that gives users quicker engine starts, improved convenience and ease of entry and exit from the vehicle; a hands-free liftgate feature that automatically opens and closes the liftgate; and an Active Park Assist feature that helps drivers find parallel parking spaces and steers the vehicle to a parking slot, with the driver’s hands off the steering wheel.

HONDA ACCORD
The all-new 10th Generation Honda Accord was also unveiled in the local market this year. This Honda’s luxury sedan offers a premium and bolder design, a more powerful engine, and the advanced Honda SENSING safety technology.

Powering the Honda Accord is a new 1.5L VTEC Turbo engine developed under Earth Dreams Technology. This new engine puts out a maximum power output of 190PS at 5,500 rpm and 243 Nm of torque from 1,500 — 5,500 rpm. Its power is transmitted through a Continuously Variable Transmission (CVT) developed based on Honda’s Earth Dreams Technology. Combining these features under the hood of Honda Accord results in responsive performance, acceleration and efficient fuel economy.

The new Honda Accord now also sports a new eight-inch display audio system, which is one of the most advanced systems offered by Honda to date. Aside from a simplified menu structure and customizable shortcuts for commonly used features and applications, this intuitive and easy-to-use system also comes with navigation and supports Apple CarPlay and Android Auto for a more intuitive smartphone connectivity.

HYUNDAI PALISADE
Competing with the likes of the Ford Explorer, Mazda CX-9, and GAC GS8, Hyundai Palisade is a strikingly styled premium SUV recognized for its refined visual design breakthroughs, state-of-the-art technology and safety features.

A quiet ride, powerful driving performance, and excellent fuel efficiency are guaranteed with Palisade’s R2.2 diesel engine and Atkinson-cycle 3.8L gasoline engine. The eight-speed automatic transmission also delivers a smooth and seamless driving experience, according to its website.

The Hyundai Palisade is engineered with a nine airbag system and active safety system equipped with intelligent driving safety technology. It also comes with advanced features from the backseat conversation and sleep functions to the rearview monitor and active noise-cancelling function. Moreover, it is equipped with blind view monitor, USB ports for second- and third-row passengers, and three-zone independent-control fully automatic air conditioning.

KIA STINGER
Kia Philippines also debuted this year one of its most powerful offerings — the all-new Stinger. This visionary product of the Kia GT Concept showcases a perfect balance of ride, handling, comfort, and impressive powertrain.

The all-new Stinger is powered by a 3.3L V6 Twin Turbocharged Gasoline Engine Direct Injection Dual CVVT. Its maximum power output is 370PS at 6,000 rpm, while its maximum torque is 510 Nm at 1,300-4,500 rpm. Acceleration from 0-100 kilometers per hour (kph) is at 4.9 seconds with a top speed of 270 kph. It is available in RWD drivetrain and mated to an eight-speed automatic transmission.

The Kia Stinger doesn’t fall short on advanced technology features. It has electronically controlled Dynamic Suspension integrated with Drive Mode Select, which adjusts steering boost, shift points, throttle and suspension mapping. Braking is powered by 4-Piston Brembo Caliper Discs on the Front and Rear. Moreover, Dynamic Torque Vectoring system comes standard.

MITSUBISHI STRADA
As early as January, Mitsubishi Motors Philippines Corp. (MMPC) introduced in the country the heavily revised version of the Strada, which is considered as a key model of Mitsubishi Motors in the competitive pickup truck market. It is designed not only to be more durable, reliable and capable, but also to deliver a more comfortable ride.

The new Strada is refined to deliver an unmatched performance with its 2.4L 4 In-line 16 Valve DOHC Clean Diesel with Variable Geometry Turbo and MIVEC (Mitsubishi Innovative Valve timing Electronic Control System) 4N15 that gives a maximum output of 181PS at 3,500 rpm and a maximum torque of 430 Nm at 2,500 rpm.

As far as safety is concern, the new Strada hosts an array of passive and advanced active safety features. It carries the proprietary Mitsubishi Motors’ RISE body (Reinforced Impact Safety Evolution) that absorbs the impact of collision, and retains the current model high durability, high reliability ladder-type frame, and high-impact safety cabin structure. The Active Stability Traction Control (ASTC), Hill Start Assist (HSA) and Trailer Stability Assist (TSA) are now standard in all variants.

TOYOTA GR SUPRA
Toyota Motor Philippines (TMP) Corp. also marked another history in the local automotive scene as it brought the all-new Toyota GR Supra in the Philippine shores. This first-ever Toyota Supra to be retailed in the country is the modern evolution of its predecessors. It inherits key styling features from both the Supra A80 and the Toyota 2000 GT.

The local variant of the Toyota GR Supra is powered by a twin-scroll turbocharged, in-line six-cylinder engine that produces a maximum output of 335 hp and 500 Nm of torque. It comes exclusively in 3.0L displacement and eight-speed automatic transmission.

The chassis and body frame of the all-new Toyota GR Supra are masterfully crafted to enjoy a 50:50 front-rear weight distribution, which is crucial in achieving optimum cornering performance. Its front wheels are equipped with double-joint type MacPherson Strut, while its rear wheels come with Multi-Link suspension. It also features a limited slip differential and ventilated disc brakes. — Mark Louis F. Ferrolino

China aims for southeast to be 70% self-sufficient in pork

BEIJING (Reuters) — China’s Ministry of Agriculture and Rural Affairs issued a three-year plan to speed recovery of pig production after the world’s largest hog herd was ravaged by disease, targeting 70% self-sufficiency in pork for the nation’s southeast.

Beijing said its hog herd was down 41% in October from a year earlier, after an epidemic of African swine fever killed millions and stopped many farmers from replenishing herds.

Analysts and industry insiders believe the damage may be worse, with some estimating the herd has dropped by 60% or more.

With consumer inflation close to an eight-year high and the country’s peak consumption period during the Lunar New Year holiday in late January just weeks away, Beijing has repeatedly said its pig stocks will soon recover.

The plan, dated Dec. 4, reiterated a target for pig stocks to stop falling and start picking up by the end of this year, and for production to recover to close to normal levels by the end of 2020.

China issued a series of policies in September aimed at supporting the recovery of hog production, and the plan includes many of those.

It also said the previously announced subsidies for large-scale farms must be issued on time and land permits simplified.

Stronger financial support and insurance must be given to pig breeders, and help for small and medium-sized farmers to resume production, the plan said.

The plan outlines as well a goal to improve the prevention and control of African swine fever and to regulate reporting of outbreaks.

“Once suspected outbreaks are found in various places, they must be standardized and reported as soon as possible,” it said.

The plan also clarifies a regional layout, with the northeast, northern and central south regions, including Hunan, Hubei and Guangxi provinces, to remain major pig production areas that will supply other parts of the country.

The populous southeast coastal provinces of Jiangsu, Zhejiang, Guangdong and Fujian as well as the cities of Tianjin, Beijing and Shanghai must also achieve a self-sufficiency rate of around 70% for pork.

Southwest and northwest regions including Sichuan should achieve basic self-sufficiency. — Reuters

Fed, BSP meetings seen affecting trade this week

By Denise A. Valdez
Reporter

PHILIPPINE STOCKS are seen to move this week in accordance with market sentiment on the central bank’s policy meeting and any tariff adjustments by the United States on Chinese products — two events scheduled in the coming week.

The 30-member Philippine Stock Exchange index (PSEi) climbed 10.81 points or 0.13% on Friday to close this month’s first week of trading at 7,801.72.

On a weekly basis, the main index was up 0.81% to record its first week of gain after three weeks of decline.

Value turnover last week averaged P5.932 billion to trim 34% from a week ago. Activity from foreign investors saw a turnaround with net buying at P89 million from a net selling of P1.6 billion in the prior week.

Online brokerage 2TradeAsia.com said much of the local bourse’s performance last week was driven by volatile mood that swept most markets across the region.

Heading into a new week, it said the Sino-US trade talks, monetary policy and water concessionaires’ battle with government will be the main drivers of the stock market.

“Emotions are bound for a rough patch in the coming days, as 15 December’s US tariff implementation deadline on Chinese imports loom,” 2TradeAsia.com said in a market note sent Friday.

It noted there are polarizing opinions from investors on whether the trade talks would be enough to trigger tariff rollbacks or if the political climate will cloud expectations of a tariff resolution.

“For now, remarks that would be given along these lines would cause share prices to fluctuate, unless both major parties come to amicable terms,” it said.

2TradeAsia.com likewise said the meeting of the US Federal Open Market Committee on Dec. 10-11 will impact global equities, on top of the policy review of the Bangko Sentral ng Pilipinas on Dec. 12.

Also to be watched is market sentiment on infrastructure projects that are of similar nature as that of water concessionaires, which drew the ire of President Rodrigo R. Duterte last week.

“Sequels to water concessionaires’ concerns may cast some cloud on the fate of other similar infra projects, especially within capital-intensive utilities… Learn to look at temporary set backs as opportunity to move into stocks with fundamentals that have run the test of time,” 2TradeAsia.com said.

Aside from upcoming events, Regina Capital Development Corp. Head of Sales Luis A. Limlingan said the local bourse may start this week’s trading with a gain on the back of positive sentiment spilling over from the US jobs report that came out Friday saying jobs increased 266,000 in November.

Mr. Limlingan is putting the PSEi’s support level at 7,760 and resistance at 7,920.

For 2TradeAsia.com, the PSEi’s immediate support is seen between 7,500-7,700, while resistance is between 7,850-7,950.

Style (12/09/19)

BPI Sinag ng Pasko Christmas Bazaar

TIME to go Christmas gift shopping at the BPI Sinag ng Pasko bazaar on Dec. 11 at the Palm Drive Activity Center, Glorietta 2. Featuring 40 Filipino social enterprise merchants, the one-day Christmas sale curates local pieces that are uniquely handcrafted by native communities around the Philippines. Held the day before the year’s last online sales events, BPI Sinag ng Pasko features a combination of innovative and indigenous products, upcycled and sustainably sourced creations, and comforting and surprising items. Each item offers an opportunity to not just spread Christmas cheer to those close to you, but also spark joy to Filipino communities. Buying a Yakan weave can help secure the preservation of indigenous culture. Paying for local delicacies can mean paying for a farmer and his family’s food. Purchasing a notebook can mean a boost of confidence for a single mom lifting her family out of poverty. There are arts and crafts items, clothing, jewelry, food, home items, novelty items, things for children, and a whole lot more. Learn more about the programs of the BPI Foundation by following its Facebook page (www.facebook.com/BPIFoundation) or visit the official website (www.bpifoundation.org/).

Watches at The Big Red Sale at Secondo

Why pay full price for a luxury watch when you can buy one pre-loved and save money? Here are six items that may be of interest at Secondo’s ongoing Big Red Sale. First is the Rolex’s biggest classic, the Submariner (116619) also known as the Smurf. Introduced in 2008, it was one of three all-gold Submariner models to debut that year. This original Rolex divers watch is the most coveted collector’s item among professional divers and collectors alike. Second is Patek Philippe’s (5960) Flyback Chronograph with Annual Calendar. A rare classic, it combines a self-winding flyback chronograph with an annual calendar in a 40.5 mm steel case. Third is Seiko’s Superior Limited edition (SSA113K1). This timepiece only needs to be set at the right time and shaken to charge. It will give the most accurate time with a power reserve of up to 55 hours. Fourth is Omega’s Speedmaster Michael Schumacher Limited Edition (3519.50.00). Omega has honored the Formula 1 world champion with limited edition pieces, starting in 1996. This timepiece is powered by the calibre OMEGA 1152 which is a self‑winding chronograph with a rhodium‑plated finish that offers a power reserve of 44 hours. Fifth is an IWC’s Portugieser Yacht Club Chronograph (390503) has a silver-plated dial, black rubber strap, and stainless steel case and folding clasp. and last is the A. Lange & Söhne Richard Lange Boutique Edition (232.026). This particular edition has stunning movement with no complications and a second running hand that’s central. The inner workings and quality of all timepieces have been evaluated, certified and checked by the respective Official Service Centers and/or Authorized Dealers. The authenticity and provenance have likewise been verified. The Big Red Sale at Secondo runs until Dec. 20 at the 3/F Glorietta 4, Ayala Center Mall, Makati. For details call 0915-490-8204 or 8851-6583.

UNIQLO Christmas specials

UNIQLO treats its shoppers with weekly limited offers this holiday season. All the way until Dec. 22, customers can enjoy special promotions on LifeWear pieces. The collection offers a wide range of items, from essentials to collaborations with pop culture phenomena and luxury fashion labels to express one’s individuality. To celebrate the season of gift giving, shoppers can take advantage of seasonal and limited offers each week, with deals on items such as tops, bottoms, outerwear for men, women, and children. Shoppers can also purchase gift cards from any UNIQLO store. They are available in P500, P1000, and P2000 denominations, and come in a sleeve, message card, and special paper bag. For more updates, customers may download the UNIQLO mobile app, visit UNIQLO Philippines’ website at www.uniqlo.com/ph and follow social media account, Facebook (facebook.com/uniqlo.ph), Twitter (twitter.com/uniqloph) and Instagram (Instagram.com/uniqlophofficial).