Facebook Instagram Linkedin Twitter Youtube
Home Blog Page 9481

Iloilo’s MORE to source power supply from KEPCO’s Cebu plant

MORE Electric and Power Corp. (MORE Power) has signed an interim power supply agreement for 5 megawatts (MW) with KEPCO SPC Power Corp. (KSPC), helping ensure stable electricity in Iloilo City for the one-year term of the contract.

“We are happy to be in partnership with KEPCO SPC as we commit to bring more to the lives of the Ilonggos by delivering cheaper power,” said Roel Z. Castro, president and chief operating officer of MORE Power, in a statement on Friday.

The contract has an option for another 5 MW. It was signed on May 15 at the KSPC plant office in Naga City, Cebu.

MORE Power said KSPC had agreed to supply reliable power to Iloilo City at a much lower rate than the current supplier of the city.

It quoted KSPC President and Chief Executive Officer Jong Ryoon Yoon as saying: “KEPCO SPC is more than willing to assist MORE Power in its journey in giving Iloilo City secure, reliable and affordable power supply. [MORE] can always count on KSPC on these basic criteria of service.”

KSPC operates a circulating fluidized bed combustor coal-fired power plant with two units, each with a capacity of 100 MW. The plant is in Naga City, Cebu.

Under MORE Power’s franchise, or Republic Act 11212, the power distribution utility is allowed to resort to negotiated procurement of emergency power supply under Department of Energy (DoE) Circular DC 2018-02-003.

The DoE circular adopts and prescribes the policy for the competitive selection process in procurement by distribution utilities of PSAs for the captive market.

The emergency power supply contract must not be higher than the latest Energy Regulatory Commission-approved generation tariff for the same or similar technologies in the area. — Victor V. Saulon

GMA unit signs partnership with Singapore Press Holdings/Mediacorp JV

GMA New Media, Inc. (NMI) has tied up with Singapore Media Exchange (SMX) Pte. Ltd., a joint venture firm established by two Singapore media groups, to help GMA expand its audience worldwide.

In a statement Friday, the digital media and tech arm of listed GMA Network, Inc., said the partnership is intended to expand the broadcast network’s plan to further its reach across various cultures and territories.

“We are thrilled to work with SMX and see this as an opportunity to leverage the strength of media giants like Singapore Press Holdings and Mediacorp through SMX. This partnership is a significant enabler not just for premium content providers like GMA but for advertisers as well since the synergies it creates will be instrumental to achieving our goals in terms of revenue targets, market penetration, and cost efficiency, among others,” NMI Chief Operating Officer and President Judd Gallares was quoted.

For 2019, GMA has a revenue growth target of 12%, with election-driven revenue and a recurring advertising sales seen accounting for the biggest share.

In a regulatory filing, GMA said its attributable net profit surged 70.7% to P716.08 million in the three months to March, driven by advertisinga.

Consolidated revenue rose 14% year-on-year to P3.8 billion, on the back of political advertisements which accounted for over P300 million in the three-month period.

Meanwhile, SMX, co-owned by Singapore Press Holdings Ltd. and Mediacorp Pte. Ltd., aims to establish itself in the Southeast Asian market via partnerships in the region.

“The expansion offers advertisers a one-stop selection of programmatic brand-safe options to reach top-quality audiences across Southeast Asia, including exclusive access to premium formats,” according to the statement.

SMX is also expected to have more opportunities to combine its own proprietary data with those of its partners to gain a richer understanding of the audience for more precise and effective targeting.

“These regional partnerships I believe will propel SMX towards a strong regional offering that reinforces our ability to provide buyers with rich audiences, precision targeting and innovative ad formats while making the supply accessible with more buying options and across bidders,” SMX Chief Executive Officer Hari Shankar said in the statement.

NMI joins SMX’s new group of partners which consist of media publishers and marketplace platforms that have presence in Southeast Asia. — Janina C. Lim

Sta. Lucia Land buys stake in Uni-Asia for over P40-M

Sta Lucia Land, Inc. (SLI) said its board has approved the purchase of LBS Properties Inc.’s stake in Uni-Asia Properties, Inc., thereby gaining access to the latter’s development projects.

In a regulatory filing on Friday, SLI its board, in a special meeting on May 7, approved the P40.487 million purchase of 2,562,490 shares of Uni-Asia’s stock.

The shares were valued at P15.80 each based on Unia-Asia’s net asset value.

SLI said the deal will increase its stake to 4.37% in Uni-Asia which currently develops subdivision projects such as Centro Verde, as well as a township in Iloilo, Hacienda Verde.

SLI ”will benefit from the positive cash flows of Uni-Asia from the expected sales of its new township project in Iloilo,” SLI said.

SLI and LBS Properties are to execute a deed of conditional sale of shares which calls for a down payment of P20.24 million, or half the agreed sum.

The balance will be paid within one year through monthly installments of P1.69 million, secured by post-dated checks.

SLI said its board also approved during the meeting the development of seven sites via joint venture.

The sites, in Sto. Tomas and Lian in Batangas; Davao City, Cavite, Cebu, Iloilo and Bulacan, total some 2.219 million sqm.

The board also approved the formation of joint ventures with Sta. Lucia Realty and Development, Inc. to develop five other sites in Bulacan, Batangas, Cavite, Rizal and Iloilo totaling 135,022 sqm.

The board also authorized the purchase of seven sites in Calamba and Sta. Rosa, Laguna; Davao City; Iloilo; Negros Oriental; Pasig City and Palawan, totaling 627,174 sqm.

The board approved SLI’s plan to apply for an additional P200 million credit line with Maybank Philippines, Inc.’s Trust Department.

SLI fell 4.26% on Friday to close at P1.80. — Janina C. Lim

BDO completes sale of 15% stake in rural bank unit ONB

BDO Unibank, Inc. said it completed the sale of a minority stake in its rural banking unit to a Singapore investment firm.

In a regulatory filing on Friday, the bank said it completed on Thursday the sale to Osmanthus Investment Holdings Pte. Ltd. (Singapore) of a 15% stake in One Network Bank, Inc. (ONB).

BDO said in an earlier disclosure that the Osmanthus deal will further strengthen the rural bank’s foothold in microfinance.

The deal was first entered into in October.

Osmanthus is a unit of Singaporean private equity firm Archipelago Capital Partners Pte. Ltd. which invests in small- to mid-market firms in Southeast Asia.

“BDO’s partnership with Osmanthus in ONB is expected to accelerate ONB’s ongoing thrust into the micro-, small and medium enterprise (MSME) market and further extend coverage of the unbanked and underserved markets,” BDO added.

Since 2017, Osmanthus has been helping ONB develop the framework for its MSME loan business, which led to the establishment of initial test sites before the end of 2017.

“We believe in the vast potential of the MSME market in the Philippines and are committed to help ONB achieve a leading position in serving these customers,” Archipelago Capital Partners Chief Executive Officer Jovasky Pang was quoted as saying in a statement in October.

At the end of 2018, ONB was was the biggest rural bank in the country by assets with P27.3 billion, according to central bank data.

ONB operates 120 branches and over 220 automated teller machines, most of which are located in rural Mindanao.

BDO completed its acquisition of ONB in July 2015 from the Consunji group. — Karl Angelo N. Vidal

Peso closes at over seven-week low after RRR cuts

THE peso plunged further against the dollar on Friday to its seven-week low, as market participants responded to the 200-basis-point reduction in the reserve requirement ratio (RRR) for big banks.

The peso ended the week at P52.63, against the P52.48 finish on Thursday.

This was the peso’s worst close in more than seven weeks. It closed at P52.75 on March 28.

The peso opened the session weaker at P52.55. It slipped to as low as P52.65 intraday, while its best showing was P52.445.

Trading volume spiked to $1.188 billion from $715.27 million in the previous session.

Foreign exchange traders attributed the peso’s slump to the recent cut by the Bangko Sentral ng Pilipinas to the RRR for commercial and universal banks.

“The peso traded weaker given the RRR cut that was done after the market closed yesterday,” one of the traders said in a phone interview.

The Bangko Sentral ng Pilipinas ordered a series of reductions in RRR. The rate will be reduced to 17% effective May 31, 16.5% effective June 28 and eventually to 16% effective July 26.

Big banks are currently required to keep in reserve at least 18% of deposits — a share considered as the highest in the region. Trimming the RRR will likely unleash about P90-100 billion into the financial system.

Robert Dan J. Roces, Security Bank Corp. chief economist, said on Thursday the injection will cause the peso to “face stronger depreciation pressures” given that more money is circulating in the economy.

“Sharper peso depreciation could stoke inflationary pressures,” he said, although noting that the staggered implementation seeks to arrest this tendency.

“As the RRR cuts are done in a gradual, managed nature, its end goal will be to bring down financial intermediation costs, as well as orienting monetary instruments to become more market-based, thereby leading to better credit growth that goes into capital formation and consumption.”

Apart from the cut in reserve requirement, another trader said the peso declined against the dollar as “trade conflicts between the US and China remain high.”

Reuters, citing official Chinese media, reported that China considers the US to not ne sincere in wanting to resume trade talks.

Trade tensions between the world’s two largest economies simmered anew after both countries imposed levies on each other’s goods.

The US Commerce Department also issued a rule Thursday prohibiting US companies from buying equipment from Chinese firm Huawei Technologies Co. Ltd. — Karl Angelo N. Vidal

PSEi caps five days of losses after BSP’s RRR cut announcement

THE PHILIPPINE STOCK EXCHANGE index (PSEi) snapped a five-day losing streak on Friday, with the financial sectoral index gaining the most a day after the Bangko Sentral ng Pilipinas (BSP) announced a 200 basis point phased cut to big banks’ 18% reserve requirements ratio (RRR).

The PSEi gained 108.66 points or 1.45% to finish 7,583.82 — but still marked the second straight weekly fall of 2.05% — while the all-shares index increased by 50.41 points or 1.08% to end 4,713.27.

“Sentiment got a boost from the BSP’s decision to cut the reserve requirement

by 200bps in three stages beginning with a 100bps cut on May 31,” RCBC Securities, Inc. said in a Stock Market Weekend Recap authored by research analyst Fiorenzo D. De Jesus.

Timson Securities, Inc. trader Jervin S. De Celis said the BSP’s latest policy step provided “a cushion for this falling market.”

“This move by the BSP means more liquidity in the economy and more money for banks to lend for growth amid slowing inflation and lower-than-expected [5.6%] GDP [growth] rate in the first quarter,” Mr. De Celis said in a mobile phone message on Friday.

“However, this bounce may not last at all because investors will be rebalancing their portfolio in accordance with the changes in the index weights reported by MSCI.”

Regina Capital Development Corp. Managing Director Luis A. Limlingan said Wall Street’s rise on Thursday in the wake of strong macroeconomic data and bargain hunting at home fueled PSE’s recovery on Friday. At the same time, “… [i]nvestors weighed the latest developments on the trade front after President Donald Trump appeared to target Chinese telecommunications group Huawei with an emergency declaration against threats to US technology,” Mr. Limlingan said in a text message.

Four of the six local sectoral indices gained: financials by 37.35 points or 2.24% to finish 1,700.73, services by 38.37 points or 2.4% to 1,636.59, property by 65.62 points or 1.61% to 4,138.89 and holding firms by 74.45 points or 1.06% to 7,069.9.

Mining & oil fell by 31.28 points or 0.42% to finish 7,256.66, while industrials gave up 32.55 points or 0.29% to end 11,058.42.

Stocks that gained outnumbered those that lost 122 to 72, while 40 issues ended flat.

Trading thinned as Friday saw 935.86 million shares worth P8.207 billion change hands, compared to Thursday’s 2.325 billion shares worth P8.56 billion.

Investors abroad remained predominantly bearish, although net sales slipped to P1.387 billion on Friday from Thursday’s P1.854 billion. RCBC Securities’ Mr. De Jesus noted that the week saw “massive net foreign selling of almost P6 billion”. — J. C. Lim

Inspiring eco-innovation in Aurora, Quirino, and Palawan

Spearheading a movement towards environmental conservation this Earth Month, Impact Hub Manila and Forest Foundation Philippines launch a local scaling program for community-based social enterprises.

The Social Entrepreneurship Engagement & Development (SEED) program aims to catalyze growth of the Philippine social enterprise pipeline through providing entrepreneurs in the provinces with the same incubation opportunities that startups in Manila have access to.

However, participants of the program will not only have business profit on their minds. Integral to the development program is its emphasis on ecosystem management. The weavers, farmers, and fishermen will be taught best business practices that support the UN’s Global Sustainable Development Goals.

The research team has conducted research in Palawan and Sierra Madre, immersing in the communities to evaluate the existing social enterprise ecosystems in each. Indubitably, the provinces are teeming with untapped business potential. There is prominent support for community members’ own ventures that ranged from aquaculture to woodcarving. Although the program will reinforce the ecosystems in each community, it will also give entrepreneurs a chance to take things up a notch.

The SEED program will spark eco-innovation within the social entrepreneurs by awarding a grand prize of continuous incubation support from Impact Hub Manila, hoping to ignite the Filipino inventive entrepreneurial spirit. This will feature free one-on-one coaching and consultancy, access to working space, and several opportunities in the global network of industry leaders and business pioneers.

With an ambitious goal of strengthening the country’s social enterprise ecosystem across the regions, the program will also draw support from the dynamic startupsphere of major cities in the Philippines. For those who are interested in sharing important social enterprise insights, Impact Hub and Forest Foundation encourage successful entrepreneurs and startups to become a part of the program by signing up for its mentors pool.

You can learn more about the SEED program on Impact Hub Manila’s site here.

________________________________________

Isabell J. Kittel is the research officer of Impact Hub Manila, the world’s largest network focused on building entrepreneurial communities for impact at scale.

Mondelēz International delivers strong progress against its sustainability and mindful snacking goals

MANILA, Philippines. – May 17, 2019 – Mondelez Philippines today shared its 2018 Global Impact Progress Report, announcing significant progress against its 2020 Impact Goals. The report highlights how the world’s leading snacking company meta major global well-being target, achieving 15 percent of net revenue from portion control snacks, two years ahead of expectations. The report also describes advancements against the Company’s 2020 global environmental footprint goals.The significant progress the Company continues to deliver against its Impact goals demonstrates its mission to lead the future of snacking by creating snacks made the right way, for both people and the planet.

Mondelez Philippines utilizes a Biomass Boiler in its Sucat, Paranaque manufacturing plant, which uses biodegradable sources of fuel like rice hull and coconut husks. This is one of the many ways the Company is making the right snack for consumers, for the right moment and made the right way.

“We believe that consumers should not have to choose between snacking and eating right, or to worry about the impact their snacking choices have on the world and their communities,” said Ashish Pisharodi, Country Director of Mondelez Philippines. “Our company is playing a significant role in making snacking both sustainable and mindful by creating a future where people and planet thrive, and evolving our portfolio to inspire mindful snacking habits. We are proud of our global progress in 2018, particularly in well-being snacks, where we were able to reach a major goal ahead of schedule. We are also proud to share our local achievements, which contribute to these goals.”

The Company focuses its efforts on areas where it can have the greatest impact and drive meaningful change at scale in sustainability and mindful snacking.  Following are highlights of the company’s 2018 global progress:

  • Sustainable Snacking: creating a future where people and planet thrive by creating resilient ingredient supply chains, reducing environmental impact and developing zero-net waste packaging.
    • Reduced absolute CO2 emissions from global manufacturing by 10 percent. The Company’s plant in the Philippines now runs on sustainable geothermal energy, which will help reduce carbon emissions. It also utilizes a Biomass Boiler, which uses biodegradable fuel sources like rice hull and coconut husks.
    • Reduced global incoming water usage by 22 percent at locations where water is most scarce.
    • Eliminated 59,600 metric tonnes of packaging globally, on target to reach 2020 goal of 65,000 metrics tonnes of packaging eliminated. Locally 98% of the packaging used by the Company in its manufacturing plant are already either recycled or recyclable. Three Philippine public elementary schools are also set to receive recycled plastic play areas from the Company. These play areas will be made of ecobricks, or plastic bottles stuffed with plastic packaging.
    • Achieved an 18 percent reduction globally in Total Recordable Incidents (TRIs) and 11 percent decrease in Total Incident Rate (TIR) for all employees. In the Philippines the Company recently celebrated the achievement of 4 million safe effort hours in its plant.
  • Mindful Snacking: rethinking the experience of snacking; evolving the product portfolio with more options; inspiring mindful snacking habits that focus on savoring each bite and mobilizing innovative partnerships for impact.
    • Achieved our global goal two years ahead of target of reaching 15 percent of our net revenue from portion control snacks, which are individually wrapped and 200 calories or less. Portion control snacks of the Company which are locally available include Cadbury Dairy Milk Lickables 20g, Cadbury 5Star 15g, Mini Oreo pouch packs 23g, Oreo 3-piece packs 29.4g, Cadbury Dairy Milk Share Packs 15g and belVita single 20g.
    • Improved the nutrition and ingredient profile of our biggest selling brands, reducing global sugar levels by 1 percent in Milka and Oreo. Locally, the sugar content of Tang powdered beverages has been reduced by as much as 40% since 2008.
    • Allocated 95 percent of our $50 million global investment to healthy lifestyle community partnerships, impacting the lives of 1.5 million children across 18 countries by increasing their nutrition knowledge, providing opportunities for physical activity and access to fresh fruits and vegetables. In the Philippines, the Company has adopted as many as 16 public elementary schools, impacting 4,500 students, through feeding programs and other nutrition interventions under the Joy Schools program.

The Company remains committed to using its global scale and focus where it can continue to make the biggest difference and has outlined its 2025 Global Sustainability Goals, providing a clear road map for the years ahead:

  • Reducing our environmental impact by committing to make all packaging recyclable by 2025.
  • Scaling our Cocoa Life sustainability program even further so that by 2025, all chocolate brands will source their cocoa from Cocoa Life. Cocoa Life is the Company’s global cocoa sustainability program.
  • Minimizing food waste, end-to-end CO2 emissions and priority water usage by 2025.
  • Growing portion-control products to 20 percent of global net revenue by 2025.
  • Including portion amounts and mindful snacking information on all packages globally by 2025.
  • Creating and continuing to invest in community resiliency and well being through Mondelēz International Foundation programs and partnerships.

For the full report, or to read the at-a-glance summary, click on the links below.

The explosive opportunity of Philippine eSports

By Bjorn Biel M. Beltran, Special Features Writer

Until very recently, the idea that anyone can make a living by playing video games has been nothing but a pipe dream. Nowadays, with the explosive popularity of competitive video games like League of Legends, Dota 2, Counterstrike: Global Offensive, and even mobile games like Mobile Legends: Bang Bang, and Arena of Valor, not only is it possible, but anyone can make bank just by playing, provided they have the skill and dedication.

Competitive video games, or eSports, have become a multimillion-dollar business. Moreover, this year, global eSports revenues are predicted to hit $1.1 billion, reportedly growing by 27% from 2018 due to skyrocketing revenues from advertising, sponsorship and media rights to competitive video gaming.

Much of this boom is attributable to the mainstream marketable appeal of eSports. Brand investments through advertising, sponsorship and media rights are expected to make up 82%, or around $897 million of the total revenues, nearly triple that of the brand support recorded in 2015, according to a report by Newzoo, a gaming industry analytics firm.

In addition, eSports audiences — comprised of both enthusiasts and occasional viewers — are expected to grow 15% to 454 million. By 2022, total global eSports revenues could be $1.8 billion.

In the Philippines, this growth is easily noticeable. Video games have broken onto mainstream social media platforms like Facebook. Celebrity streamers and professional gamers with thousands of followers play video games like Mobile Legends on live video streams. And with the launch of the ongoing inaugural season of The Nationals, the first franchise-based electronic sports league in the Philippines, sponsored by the MVP Group of Companies, eSports as a billion-peso industry is starting to take shape.

It is the culmination of the momentum that eSports has been seeing since the start of the decade. Despite the prevalence of video games in the country’s countless computer shops and Internet cafes, the eSports scene in the Philippines was primarily amateur in nature, held and funded by local Internet café owners and franchises. While eSports associations like the Major League Gaming or the Electronic Sports World Convention abroad were gaining influence in the 2000s, lack of funding, investment, or infrastructure hindered Philippine eSports from truly blossoming until recently.

Part of the reason for its slow adoption could also be attributed to the social stigma of video games in general. Video games, at the time, were seen as merely an unproductive pastime for children and teens. Multiple reports of teenagers getting addicted to video games, compromising their studies, responsibilities, and even their health, further exacerbated negative public opinion.

The fact that many students were spending countless hours in computer shops to play video games lends a semblance of credibility to such negative views on gaming. According to an exploratory study published in the International Journal of Cyber Society and Education in 2012, 73% of Internet cafe customers in Manila were found to be students.

The study, titled “Pattern of Internet Usage in Cyber Cafes in Manila,” found that 72% of those surveyed had attained or were pursuing a college degree, and 20% had finished or were still in high school. Presumably, a number of such students were playing video games at the expense of their studies.

Even today, that stigma persists.

“For now, the main challenge is educating everyone that eSports is becoming an actual sport,” Marlon Marcelo, country manager of MET Events, the event-organizing arm of Mineski Corporation, the largest eSports organization in Southeast Asia, told BusinessWorld in a previous report.

The Mineski Corporation has been an avid proponent of responsible gaming since its inception, holding grassroots tournaments in its Mineski Infinity cybercafes since its beginnings in the early 2000s, with the company also being one of the first to sponsor a professional eSports team in the country.

“You can be successful and be a gamer at the same time. It doesn’t mean that if you’re a gamer, you’re a loser or an addict, or you’re not successful in life. That is a very big misconception. Gaming is not equivalent to addiction, and gaming can be done right,” Mr. Marcelo said.

As companies like Mineski grew, proving the business potential of the industry, so did the fame of Filipino gamers in the eSports world. TNC Predator, the professional gaming team of Philippine net cafe chain TheNet.Com, placed first in the Southeast Asia Qualifiers at the 2016 season of the Dota 2 tournament, The International, the first Philippine team to do so since Mineski in 2011. More recently, they took home top prize at the World Electronic Sports Games (WESG) 2018 in March 2019 in Chongqing, China.

Securing its legitimacy as an officially recognized sport, the Philippine Games and Amusement Board (GAB), under the Office of the President, allowed professional eSports players to secure athletic licenses in 2017, which gave eSports players more freedom to participate in international tournaments to represent the country.

With the 30th SEA Games this year, which the Philippines will be hosting this November, including six eSports titles as medal events, and the talks of eSports becoming official medal sport for the 2022 Asian Games, there is no telling how bright the future of eSports in the Philippines can be. The only thing that can be certain is that this is just the beginning.

Taking eSports to the next level

By Mark Louis F. Ferrolino, Special Features Writer

The Philippine electronic sports (eSports) scene has come a long way. From a concept that was not widely accepted by the masses in its nascent years, eSports has grown into a giant industry that is now participated in by various companies and investors.

According to Ronald Robins, founder and chief executive officer of Mineski Corp., the largest eSports organization in Southeast Asia and the local eSports pioneer, it was very hard to say 10 to 15 years ago that eSports will grow into where it is today.

“ESports before was basically a leap of faith,” Mr. Robins told BusinessWorld in a previous interview. “There was that big uncertainty.” But because of the tireless efforts of various entities, the country’s eSports ecosystem has flourished and is slowly but surely reaching its peak.

Mineski’s three main business units — Mineski Pro Team, Mineski Franchise Corp. and Mineski Events Team (MET) — for instance, have significantly helped shape the industry by means of uplifting the professional gaming scene, providing high-end gaming facilities, and popularizing eSports across the country, among others.

Over the years, Mineski’s three arms have seen rapid growth, which highlights the growth of the local eSports industry.

From a professional gaming team that solely refers to an iconic Dota squad, Mineski Pro Team now features teams in different titles. Mineski’s cybercafé franchise business, on the other hand, currently boasts a network of 150 branches across the Philippines, Malaysia, Indonesia, and Thailand, while MET continues to establish itself as the premier organizer of large-scale esports events in the region.

“Mineski now means a lot of things in the eSports industry. We have been setting example, we have been leading the industry development, not just in the Philippines but in the Southeast Asia region,” Mr. Robins said.

Mineski has been helping boost the country’s eSports ecosystem, other firms, including Globe Telecom and Lenovo, have been also doing their shares.

With the aim of bringing world-class eSports experience closer to local communities of gamers, Globe recently launched its first Esports Center (ESC) at Play Nation in UP Town Center in Quezon City.

ESC is an experience hub where Filipino gamers and gaming enthusiasts can participate in the competition, creation of live streaming content, and interaction with other members of different eSports communities.

Globe, in partnership with Mineski, also unveiled early this year its official professional eSports team called “Liyab.” It is composed of sub-teams for different game titles, including League of Legends, Hearthstone, and Arena of Valor.

The creation of Liyab Team is part of the company’s vision through the Globe Games and Esports Program to accelerate the development of eSports in the country. Since its launch in April last year, Globe Games and Esports Program remain at the forefront of the local eSports landscape by organizing and hosting international tournaments such as the Globe Philippine Pro Gaming League, Globe Conquerors Manila, and Valor Cup.

Meanwhile, Lenovo, in partnership with Intel, recently concluded the Legion of Champions Series III Grand Finals held in Bangkok, Thailand. This eSports competition brought together over 60 gaming talents from 11 markets across Asia-Pacific, including the Philippines.

Last February, Lenovo opened its first Legion concept store in the country as part of its efforts to bring game-changing devices closer to Filipino gamers. Located at the fourth floor of the Annex building of SM City North EDSA in Quezon City, the Legion store features a wide range of products from Lenovo’s Legion gaming lineup, which visitors can personally test and play games on. To further engage the local gaming community, the store will also hold mini gaming tournaments occasionally.

A champion of countryside progress

The late Liberato “Levy” P. Laus was one of the few Filipino businessmen who championed countryside development. He, just like others, had his fair share of struggles. But with his idealism and passion, he was able to make a monumental shift in his career and helped shape the lives of many.

It was in 1978 when Mr. Laus, at the age of 28, left his corporate job as a bank manager to pursue his entrepreneurial vision. He took the challenge of putting up a business in his hometown, San Fernando — the capital of Pampanga — with a long-term goal of elevating countryside development to a new level and generating employment opportunities.

Mr. Laus started with a small automotive dealership, funded with a meager capital, with only three cars on display. Despite operating in a business environment threatened by both economic and political uncertainties during its inception, Mr. Laus’ business blossomed into a highly diversified conglomerate now known as the LausGroup of Companies (LGC).

The LausGroup is considered today as the largest multi-brand network and remains to be the biggest and fastest-growing auto dealership in the country. It has a large network of more than 55 dealerships across Metro Manila, Central Luzon and Northern Luzon, with a wide range of brands, including Mitsubishi, Ford, Hyundai, Chevrolet, BMW, Volkswagen, Jeep, Peugeot, Kia, Mazda, Nissan, Suzuki, Foton, and Haima.

Aside from automotive dealership, the LausGroup’s portfolio includes business interests in diverse industries. The group operates the Corporate Guarantee and Insurance Company, Comtrust Finance and Investment Corporation, Huper Optik Philippines, and Laus Marketing and Trading Corporation. It also owns several media outlets, restaurants, and an event center.

Over the years, the LausGroup, under the leadership of Mr. Laus as the founder and chairman, has remained committed to its core values of customer satisfaction, honesty and integrity, hard work and productivity, efficiency, and social responsibility.

As an affirmation to Mr. Laus’ exceptional leadership, he was appointed as the president of the state-owned Clark Development Corporation (CDC). His stint here from 2006 to 2008 widened the stage for a new wave of investors in Clark. Prior to holding the CDC presidency, Mr. Laus served as the director of Bases Conversion and Development Authority.

Despite Mr. Laus’ success, his commitment to community development remained evident. During the Mount Pinatubo eruption in 1991, for instance, Mr. Laus led concerned city residents in organizing a disaster management group called Save San Fernando Movement. The group became instrumental in bringing together government leaders, businessmen, and other members of civil society to push the government for the construction of a protective dike that would stop lahar on its tracks, thus, saving the capital town from further destruction.

As a visionary man, imbued with the value of hard work, challenged by innovation, and inspired by the love for his hometown, it is not surprising that Mr. Laus was regarded as one the most accomplished and most awarded Filipino businessmen of his generation.

Among the prestigious accolades and recognitions Mr. Laus received through the years were the Most Distinguished Alumnus in the field of business given by the Don Bosco Academy in 1983; the Most Outstanding Kapampangan in the field of business with civic consciousness by the province of Pampanga in 1991; the Presidential Medal of Merit from former president Gloria Macapagal-Arroyo in 2005; the Outstanding Alumnus by the Don Bosco Academy on its 50th Anniversary and the Blessed Philipp Rinaldi Servant Leader from the Salesians of Don Bosco Philippines in 2007; the Most Distinguished Bedan by the San Beda College Alumni Association, and the Outstanding Achievement Award from the CDC in 2008; the Outstanding Fernandino in the field of business and entrepreneurship by the City of San Fernando in 2009; and the Distinguished Bosconian Alumnus given by Don Bosco Academy in 2016.

The inspiring life story of Mr. Laus, however, came to an end when a private helicopter carrying him, together with two others, crashed into a fishpond in Malolos, Bulacan in noontime of April 25. Mr. Laus was declared dead on arrival.

The untimely demise of the Pampanga-based businessman, who is fondly called “Levy” by his family and friends and “LPL” by his colleagues and associates, left those closest to his heart in shock. Tributes for him and sympathies for his families poured in.

“Mr. Laus will always be remembered as the man who led efforts to save thousands of jobs in Clark as he headed the lobby and passage of the Freeport Law or R.A. 9400 which effectively institutionalized incentives that made investors and locators to stay in Clark,” the CDC said in a statement.

The state-owned firm noted that Mr. Laus’ efforts impacted not just Clark workers but the whole country as well because of the freeport’s undisrupted contribution to the nation’s economy.

“Sir Levy, your legacy lives on in Clark,” the CDC concluded.

Meanwhile, in an official statement of the LausGroup, the firm said that Mr. Laus’ untimely passing unfortunately came at a time when he was looking forward to greater things, not only for the company but also for the province of Pampanga as a whole.

“He will be remembered for his love of and dedication to the LGC as a group of companies, as a brand, as a family. He will be greatly missed,” the LausGroup said. — Mark Louis F. Ferrolino

The business empire of Levy Laus

The LausGroup of Companies that the late Liberator “Levy” P. Laus founded and led until his untimely death last April 25 has come a long way from its modest beginnings more than four decades ago. This might not have been possible if not for his hard work, dedication, passion, and  business acumen.

The conglomerate started as a small subdealer called Carworld in 1978, operating from a bare office in San Fernando, Pampanga. Over the years, that subdealer expanded into a network of dealerships that grew increasingly large, so much so that there are now more than 50 of those dealerships located in Central Luzon, Northern Luzon, and Metro Manila.

Carworld, Inc. is now the flagship company of LausGroup. According to its Web site, it has contributed to the transformation of its surrounding communities into robust business districts. “Its stature is a manifestation of the economic stability and countryside development in the region,” the site adds.

Carmix, a sister company of Carworld that has been operating for decades, is also successful in its niche. It retails quality and affordable secondhand vehicles and provides trade-in options and financial assistance to its customers.

Automotive dealership remains the core business of the conglomerate. The range of the brands the LausAutoGroup carries is vast, including Mitsubishi, Ford, Hyundai, Chevrolet, BMW, Volkswagen, Jeep, Peugeot, Kia, Mazda, Nissan, Suzuki, Foton, and Haima. Not only does it sell passenger vehicles, but also trucks and buses. The conglomerate’s Web site says that it is “the biggest and fastest growing auto dealership in the country,” with over 98 business units and more than 2,100 employees.

The other automotive-related businesses of LausGroup include Comtrust Finance and Investment Corporation (Laus Auto Finance), which is engaged in auto loan financing and check discounting; Laus Marketing and Trading Corporation, which sells Voltronic motor oils and lubricants; and Laus Auto Services, which offers maintenance and repair services for all cars of all makes and models.

In 2018, a publication named Mr. Laus one of the 33 most influential persons in the Philippine automotive industry.

“Through the years, the LausGroup has remained committed to its core values of customer satisfaction, honesty & integrity, hard work and productivity, efficiency, and social responsibility. Its success is fueled not only by its passion for cars but also the passion of its people to provide the best service to its customers, a tradition that continues to transform the way every dealership conducts business,” the conglomerate’s site says.

The conglomerate is a force to reckon with not only in the automotive industry but also in other fields, like insurance. Corporate Guarantee and Insurance Company (CGIC) is a non-insurance firm that Mr. Laus founded in 1997 that offers a variety of non-life insurance products (fire, personal accident, casualty, motor, marine and bonds).

It is one of the biggest non-life insurance companies in the country. According to data from the Insurance Commission, in 2017, CGIC ranked 20th in terms of net income (P73 million), 21st in terms of net worth (P862 million), 27th in terms of premiums earned (P442 million), 28th in terms of assets (P1.519 trillion), and 41st in terms of invested assets (P487 million).

Since its inception, the firm has also garnered distinctions, including ISO 9001:2000, ISO 9001:2008, and ISO 9001:2015 certifications for quality management system. In 2011, at the 1st Philippine Insurers and Reinsurers Association Awards, the “Best in Corporate Social Responsibility” award went to CGIC.

“To this day, CGIC continues to conform to global standards, offering services that are, indeed, certifiably world-class,” the non-life insurer’s Web site says. The company’s base of operations is San Fernando, and maintains offices in Metro Manila, Bulacan, Pangasinan and Tarlac.

LausGroup has its own media businesses: radio station RW 95.1 FM, Stun.Star Pampanga and CLTV 36, a regional television network.

The conglomerate’s portfolio also includes LausGroup Event Centre (LEC), which was inaugurated in 2016 and boasts state-of-the-art facilities. It’s where all sorts of events, from conferences to concerts to private functions, are held, and it serves as the main venue for LausGroup’s product launchings and multi-brand auto dealerships.

The group also owns the four-story Microtel by Wyndham Pampanga, which was developed in partnership with Phinma Microtel Hotels, Inc. The hotel, which is a short distance from LEC, has 80 furnished rooms and amenities like a swimming pool and function rooms. There’s also a shuttle service available to the hotel’s guests to and from a nearby mall.

“Consistent with its corporate advocacy of championing countryside development, the LausGroup has slowly but surely expanded to the north, opening new dealerships and eyeing other viable businesses to sustain and spur growth and progress wherever it goes,” the conglomerate’s site says.

1...9,4809,4819,482...12,733Page 9,481 of 12,733
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin Twitter Youtube