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Common facility planned for backyard hog raisers

DAVAO CITY — The Mindanao Development Authority (MinDA) is planning to introduce a system of common facilities for hog raisers to minimize the possibility of African Swine Fever (ASF) breaking out in the southern island.

“We are now on the conceptualization stage of the project… (It is) more of a common growing area for the backyard hog raisers,” Olie B. Dagala, head of MinDA Investment Promotions, International Relations, and Area Concerns Office, said in a media forum last week.

Mr. Dagala said the scheme will involves tapping private sector investors to help backyard hog farmers.

“The hog raisers will have a ‘big brother’ arrangement like a business-to-business arrangement, depending on the industry’s businessmen,” he said, speaking in mixed English, Filipino and Visayan.

He cited Makilala in Cotabato, one of the towns hardest hit by the October earthquakes, as a possible site for the so-called “hogstel.” He added that some of the displaced backyard hog raisers there will have to be relocated as their previous areas of residence have been declared as no-live zones.

“ASF actually does not come from the large hog raisers because they have their own bio-security measures. ASF comes from backyard raisers (who produce) contaminated meat products from swill feeding,” he said.

MinDA plans make the project part of the regional-level initiatives in 2020.

“We are closely coordinating with the Department of Agriculture. After Sec. Piñol was appointed as MinDA chair, the hog raisers association of Mindanao came to him to really ensure that ASF will not enter Mindanao,” Mr. Dagala said.

TAGUM PROCESSING PLANT
Meanwhile, Tagum City in Davao del Norte inaugurated on Nov. 28 its meat processing plant, the first such facility in Mindanao funded and owned by a local government.

The two-storey building, located at the public market in Barangay Magugpo West, has machines for making processed meat products such as longganisa, chorizo, and tocino.

The City Economic Enterprises Office (CEEO) will manage the plant, where registered food handlers will be given priority for its use.

CEEO head Mary Grace Terante said rates are still under negotiation. — Maya M. Padillo

Nine West celebrates Davao’s women ‘Groundbreakers’

DAVAO CITY — Nine West recently launched its Fall 2019 collection here, putting the spotlight on some of Davao’s prominent women in line with the global brand’s “Groundbreakers” campaign.

“Groundbreakers,” with supermodel and businesswoman Tyra Banks as global ambassador, honors women who break conventions, constructs, and ceilings, according to Alexandria Caryl D. Cerezo, brand associate of Rustan Marketing Corp., the Philippine distributor of Nine West.

“With Tyra Banks’ fierceness, determination and being an icon in the fashion industry makes her the perfect muse for Nine West brand. The efforts of these three women (from Davao) is also all about helping and empowering women,” Ms. Cerezo said in an interview.

The launch featured business sector leader Mary Ann “Baby” M. Montemayor, Dr. Joan Fabiosa-Reyes, and fashion and handcrafts entrepreneur Carmaela B. Alcantara.

Known in the hospitality and tourism industry, Ms. Montemayor has done volunteer work with the T’boli and Bagobo indigenous groups and helped them set up a livelihood project, producing the Kaayo brand. She is also the honorary consul of Hungary in Davao.

Ms. Reyes is a breast surgeon who is among the pioneers of cancer awareness groups in the city.

Ms. Alcantara is a proponent of Mindanao designs, showcasing these in her fashion brand Crystal Seas and other handwoven and handcrafted products. She has represented the Philippines in various exhibits in New York, Paris, Hong Kong and Tokyo.

“With these women, we are creating awareness to empower more women. Along with empowering women, Nine West wants do it in style from head to toe,” Ms. Cerezo said

Nine West is distributed in Davao through the local chain Chimes Specialty Boutiques in partnership with Rustan Marketing.

“The brand is performing very good in the Davao market,” said Chimes Chief Executive Officer Cindy Yap.

Chimes, part of the homegrown Felcris Group of Companies, caters to the high-end segment through the exclusive distribution of local and international brands. — Maya M. Padillo

Peso may strengthen vs dollar on remittances, inflation data

THE PESO could strengthen this week on the back of support from continued remittance inflows this month.

The local unit finished trading at P50.81 versus the greenback on Friday, losing 10.5 centavos versus the P50.705-a-dollar close on Thursday, according to data from the Bankers Association of the Philippines.

Week on week, the peso also depreciated by a centavo from its P50.80 close on Nov. 22.

Dollars traded grew to $1.108 billion from the $1.045 billion seen on Thursday.

A trader attributed the local unit’s weakness to the market’s woes on developments revolving on the US-China trade conflict.

“There’s this risk-off deadline involving Huawei,” a trader said in a phone call on Friday.

Meanwhile, Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort said the recent signals from the central bank chief of a possibility of another rate cut could also be among the factors for the weaker peso seen on Nov. 29.

Reuters cited a Wall Street Journal report that Huawei Technologies Co., Ltd. challenged a US Federal Communications Commission (FCC) decision that did not allow US rural carrier customers from utilizing an $8.5-billion government fund to buy equipment from the Chinese firm.

Citing people familiar with the matter, the Wall Street Journal reported that Huawei is expected to file a suit to challenge the said FCC decision this week.

“We don’t comment on speculation,” Huawei spokesman in Shenzhen told Reuters.

Meanwhile, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno hinted last Monday that another rate cut could be possible in December should conditions warrant further easing.

“The BSP will always be data-dependent so we will evaluate…every time we have a policy meeting,” he told reporters last week..

Benchmark policy rates currently stand at four percent for the overnight reverse repurchase facility, 3.5% for overnight deposit and 4.5% for overnight lending.

This is after the 75 basis points (bps) in cuts unleashed by the central bank through three 25-bp rate reductions earlier this year.

The Monetary Board is set to have its eighth and final policy-setting meeting for the year on Dec. 12.

For this week, among the factors that could affect the local unit’s strength are the progress of the US-China trade deal, remittance influx, as well as local data.

“Mag-pepeak ang remittance flows (Remittance flows will peak) this December. Also, all eyes will continue to be on the trade war saga,” the trader said.

“Financial markets will be anticipating for the latest inflation data for the month of November, which is expected to be slightly higher from a 3.5-year low of 0.8% in October,” RCBC’s Mr. Ricafort added.

Meanwhile, the BSP Department of Economic Research last week said November inflation likely fell between 0.9-1.7%, citing higher electricity and fuel costs.

The range is above the 0.8% print in October. However, it is slower than the 6% logged in November 2018.

A BusinessWorld poll of 16 economists yielded a median inflation estimate of 1.2% for November on the back of diminishing base effects. If realized, this would also be a pickup from the October print.

The Philippine Statistics Authority is set to release November inflation data on Dec. 5.

For this week, the trader sees the peso playing around the P50.45-50.75 range, while Mr. Ricafort expects the local unit to play around the P50.50-51 level. — LWTN with Reuters

Compostela Valley coconut farmers plot upgrade to value-added products

DAVAO CITY — About 5,000 coconut farmers in Compostela Valley gathered last week during the province’s 1st Coconut Summit to discuss how to upgrade to value-added products.

The Philippine Coconut Authority (PCA) and the Department of Trade and Industry (DTI) are assisting the farmers diversify as copra prices remain low.

“The PCA has no control over the price because the pricing is being dictated by the world market,” according to Socorro Sofia Pueblo, PCA manager for Davao del Norte and representing Compostela Valley.

“As of last week, the millgate price of copra was higher at P20 per kilo but in ComVal, presuming a P3 difference, more or less P16 to P17,” she said during the Kapehan sa Davao media forum.

One of the initial interventions introduced to help farmers was intercropping with such plants as cacao.

Department of Trade and Industry (DTI)-Compostela Valley Provincial Director Lucky Siegfred Balleque said his office is working on the development of export commodities such as virgin coconut oil (VCO), coco water, coco sugar, and coconut-based handicrafts.

“That is the direction really of DTI and other government agencies, to develop products other than copra,” Mr. Balleque said at the same forum.

At the summit, farmers and processors were given an orientation on the planned coconut industry road map.

At the 2nd World Coconut Congress held in Manila in August, PCA Administrator Gonzalo T. Duque said the industry plan will be built around Training, Empowerment, Action centers for government services and Markets. — Maya M. Padillo

ARTA urges FDA to outsource inspection process

THE Anti-Red Tape Authority (ARTA) said the Food and Drug Administration (FDA) needs to accredit third-party inspection bodies to accelerate the agency’s license to operate (LTO) approvals.

“For the inspection — imagine if these private groups would be accredited to do the inspection, then you just need to monitor these private groups,” ARTA Director General Jeremiah B. Belgica told FDA at a meeting at HPGV Building in Makati City on Tuesday.

LTO applications for manufacturers falling under FDA jurisdiction are generated by companies producing food, drugs, cosmetics, and medical devices, number around 10,000 to 15,000 a year, the FDA said at the meeting.

FDA’s Center for Devices Regulation, Radiological Health and Research has identified private inspectors such as certification body TÜV Rheinland.

Mr. Belgica asked the FDA to look into expanding outsourced inspection to other areas regulated by the FDA.

Under this proposed process, Mr. Belgica said that the FDA will accredit and monitor the private inspector and retain final authority to audit and license such organizations.

“Mag-accredit na tayo (Let’s accredit)… What is important is we make things faster,” Mr. Belgica said.

ARTA had also asked FDA to consider expanding the validity of an LTO to five years. Initial LTOs are currently valid for two years.

ARTA also reiterated its recommendation for FDA to recognize certifications performed by its foreign counterparts.

“FDA should look at the processes of the counterpart FDAs abroad, and if they see a study that the processes are already acceptable for them then they should basically accredit the companies,” Mr. Belgica said in an interview after the meeting.

ARTA in September automatically approved 3,125 pending applications at FDA, in a bid to address the FDA’s application backlog. — Jenina P. Ibañez

UAAGI brings in Chery brand

Words and photos by Manny N. de los Reyes

IT WOULD take guts to bring in a brand that failed in this market more than a decade ago. But if there is one automotive distributor that could pull it off, it could only be the United Asia Auto Group, Inc. (UAAGI).

ISO-certified UAAGI is behind the Chinese commercial vehicle brand FOTON. And they steered this brand to a solid Top 10 (No. 9, to be specific) position in total Philippine vehicle sales — overtaking more famous brands in the process.

And now, UAAGI is poised to work its magic on a more mainstream brand in Chery. Chery Auto makes passenger cars, crossovers and SUVs, which are the fastest-growing segments in the Philippines today.

The initial attempt by Chery in 2007 marked the first time for a Chinese automaker to enter the local market, which as sales figures went, was not prepared for a China-based brand at the time. (The after-sales support of the original distributor left a lot to be desired as well.)

The intervening years, however, and 2019 in particular, saw a resurgence of Chinese automakers entering the local market. Close to half-a-dozen China auto brands have entered the Philippine market in the last 12 months.

“The time is ripe for us to bring in a second automotive brand, and we are convinced that Chery Auto now has the right mix of design, features, technology, and pricing in its product line to make a strong impact on the Philippine market,” said UAAGI President Rommel Sytin during the official media launch held at The Tent at Solaire in Pasay City last Wednesday.

“History and experience are the best teachers, and we have learned a lot from FOTON’s success in the Philippine market as well as where previous efforts to market Chery have failed — and we have taken all that to heart,” shared Mr. Sytin.

The lineup of Chery models that will mark the initial reentry to the Philippine market will be composed of an all-crossover range. These are the Tiggo 2, Tiggo 5X, Tiggo 7, and the 7-seater Tiggo 8. All models are powered by modern 1.5-liter inline-4 fuel-injected DOHC 16-valve Euro 5-compliant petrol engines (turbocharged for the Tiggo 7 and Tiggo 8) and mated to 5-speed manual transmissions or 6-speed automatics.

All models are made in Chery’s world-class state-of-the-art fully robotized plants in Wuhu, China. All Chery models have contemporary styling and modern comfort, convenience and safety features, while the higher end models boast luxury car features like 10” UHD touchscreen displays, foot-sensing automatic power tailgates, automatic LED headlamps, LED taillamps, cruise control, Smart Key Entry System, 6-way power-adjustable seats, LCD instrument panel, panoramic sunroof, leather seats, 18” alloy wheels, and much more. For safety, Chery automobiles feature six air bags, front and rear radar-based driving aids, and a full suite of electronic driver-assist systems.

The Chery brand sold over 750,000 units last year, a growth of 11% compared to the previous year. Chery has been China’s biggest exporter of passenger cars in the last 16 years. Chery has sold over 7.2 million vehicles in over 80 countries. It is also a leading manufacturer of hybrid and full electric vehicles, not just in China, but in the world.

“We are excited to bring in Chery. The new cars possess all the brand values Filipinos now look for and we are convinced that the local market will warmly receive these latest models,” Mr. Sytin added.

To emphasize their confidence in the vehicles, Chery Auto Philippines is offering an industry-leading 10-Year/1 million-km Powertrain Warranty on top of a 5-Year General Vehicle Warranty. And to sweeten the purchase, Chery Auto Philippines is offering a 3-year free Preventive Maintenance Service (PMS) to all buyers of any Tiggo model.

Prices for the new models start at P695,000 for the Tiggo 2, P818,000 for the Tiggo 5X, P1,195,000 for the Tiggo 7, and P1,280,000 for the seven-seater Tiggo 8.

The Chery dealership and service network will be announced soon. For more info, visit Chery Auto Philippines’ Facebook and Instagram pages on CheryAutoPhilippines.

Nike releases latest NBA City Edition uniforms; adidas Dame 6 now out

COINCIDING with the recent start of the 2019-20 season of the National Basketball Association, Nike has released its latest NBA City Edition uniforms — the third set of uniforms in three years.

The uniforms take varying inspirations stemming from the geographic details of the city where a particular team is situated. In the case of the Orlando Magic (in photo), the jersey brings to the fore the region’s citrus groves it was known for long before the theme parks it is now famously hosting. The jersey pops citrusy orange on the its neckline, side panels and shorts.

All 30 teams in the NBA are represented in the City Edition uniforms.

Select jerseys from the NBA City Edition collection will be available at select Nike stores for P3,595.

Meanwhile, the sixth iteration of the adidas shoe line of NBA All-Star Damian Lillard of the Portland Trail Blazers is now available locally.

Described as the embodiment of Lillard’s creativity and persona, the Dame 6 introduces a variety of energetic colorways, including “Ruthless” and “Hecklers,” which tell the story of Lillard’s dichotomy on-and-off the court.

The Ruthless colorway features the word “Ruthless” painted in bold script on the medial midsole. The black textile mesh upper, providing breathability, is highlighted with split hues of neon pink and green and accented with a black suede overlay on the toe box. It is now available in the local market.

Hecklers, meanwhile, is centered around four team colors and features a graphic print with zipped up emojis. Each colorway is designed with a “Get Dealt With” message and the final touch includes the word “Hecklers” strategically placed on the heel tab for all to see. The shoe drops in the country on Jan. 18.

The Dame 6 is the first model in the Dame series to feature Lightstrike technology, the super-light midsole that provides the perfect balance of lightweight cushioning and on-court responsiveness.

The shoe is available for P6,000. — Michael Angelo S. Murillo

ACE Legazpi gets SEC go-signal for P1-B IPO

ANOTHER member of the Allied Care Experts (ACE) Medical Group has gained the approval of the Securities and Exchange Commission (SEC) to conduct a P1-billion initial public offering (IPO).

In a statement over the weekend, the SEC said it approved the application of ACE Medical Center — Legazpi, Inc. to register 240,000 shares and to issue securities upon submission of certain requirements.

The hospital firm said in its initial prospectus published on its website that it wants to do a primary offer and sell 36,000 common shares equivalent to 3,600 blocks consisting of 10 shares per block. The price of the shares will range from P200,000 to P362,500 per block.

The issuance will have five tranches where the shares will be sold at an increasing offer price on a staggered basis.

The SEC said the hospital’s IPO is targeted to medical specialists and individuals that are related to them, as subscribing to the shares will be a requirement for physicians and medical specialists that want to work at ACE Medical Center — Legazpi.

The hospital firm expects to net about P996.53 million from the IPO, which it will allocate for the development and construction of the hospital, payment of existing loans, procurement of medical equipment and additional working capital, among others.

The SEC noted ACE Medical Center — Legazpi is building two four-story hospitals in Brgy. Bogtong, Legazpi City, and the cash to be generated from the IPO will support the completion of the first building, which it intends to start operating by end of next year.

“ACE Medical Center — Legazpi is envisioned as the biggest private hospital in Legazpi City. It will be a 172-bed, Level II, Philhealth-accredited hospital catering to patients from neighboring communities needing further treatment and management,” the SEC said.

Aside from subscription to the hospital firm’s shares, participating in the IPO will have benefits to investors such as discounts in hospital services from those in the ACE Group of Hospitals.

Aside from ACE Medical Center — Legazpi, other hospital units under the ACE Medical Group have also previously obtained clearance from the SEC to conduct an IPO, namely ACE Medical Center — Iloilo, ACE Malolos Doctors; ACE Medical Center — Butuan; ACE Medical Center Gensan; ACE Dumaguete Doctors; and ACE Medical Center Bohol. — Denise A. Valdez

Debt yields close flat on US-China, BSP rate bets

By Marissa Mae M. Ramos
Researcher

YIELDS ON government securities (GS) continued to be flat last week amid mixed developments in the US-China trade talks and the statement of the Philippine central bank chief hinting on the possibility of another rate cut this year.

At the secondary market, debt yields rose on average by 0.3 basis point (bp) week-on-week, according to PHP Bloomberg Valuation (BVAL) Service Reference Rates published on the Philippine Dealing System’s website on Nov. 29.

“Local yields ended almost flat for the week due to mixed developments in the US-China trade discussions,” a bond trader said in an e-mail.

“Yields were initially higher as US President Donald J. Trump remarked that a first-phase trade deal with China is already ‘very close’ to completion… However, towards the end of the week, trade fears were revived after he signed the Hong Kong [Human Rights and] Democracy Act which is widely seen to delay the first-phase trade agreement,” the bond trader added.

In a phone interview, Security Bank Corp. Vice- President and Head of Fixed Income Dino Angelo C. Aquino attributed the flat GS yields to “lack of fresh leads…mainly following the auction result last Tuesday of the 20-year Treasury bonds…”

Mr. Aquino noted that the bonds fetched 5.341% on average, which is higher than market expectations of 5.25%.

“Another reason could be the statement of Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno of a possibility of an interest rate cut this year that the market didn’t price in earlier,” he added.

The Bureau of the Treasury last week awarded just P12.271 billion of the P20 billion programmed for the reissued 20-year Treasury bonds (T-bond) even as the tenor attracted P28 billion worth of bids.

The debt papers fetched an average of 5.341%, 32.6 bps higher from the 5.015% quoted when the tenor was last awarded in July. At the Sept. 24 auction, the Treasury rejected bids worth P30.7 billion for this tenor as the market asked for higher rates.

Following the auction, Deputy Treasurer Sharon P. Almanza told reporters there is not much appetite for longer tenors as the market prefers shorter-dated securities following the BSP chief’s remarks on the possibility of another rate cut within the year.

Earlier last month, Mr. Diokno told reporters that a 25-bp cut will not be off the table on the last policy meeting of the Monetary Board (MB) this year, which is scheduled on Dec. 12.

The central bank chief said policy decisions will always remain data-dependent and that the MB will not make any “drastic” changes to avoid being misinterpreted by the market as “desperate.”

Mr. Diokno’s statement came after the MB decided to pause cutting rates in its Nov. 14 policy meeting to observe possible adjustments from previous rate reductions.

At the external front, Mr. Trump confirmed the progress of the first phase of the trade deal between US and China after key negotiators agreed through a phone call of further finalization on certain issues in the trade agreement.

Reuters reported that same week also saw Mr. Trump signing a legislation intended to help Hong Kong maintain its autonomy from Beijing to justify favorable trading terms with the US to which China’s Foreign Ministry cautioned of “firm counter measures.”

At the secondary market last Friday, the 91- and 182-day Treasury bills (T-bills) inched up by 0.4 bp and 3.3 bps, respectively, to fetch 3.178% and 3.371%. On the other hand, the 364-day debt paper dropped 0.8 bp, yielding 3.510%.

At the belly of the yield curve, the rates on the two-, three-, four-, and five-year T-bonds declined by 5.5 bps (3.791%), 3.9 bps (3.941%), 1.9 bps (4.099%), and 0.2 bp (4.256%). Meanwhile, the seven-year paper saw its yield go up by 1.5 bps to 4.515%.

Yields on the 10-, 20-, and 25-year T-bonds climbed by 2.1 bps, 4.9 bps, and 3.9 bps, respectively, to yield 4.741%, 5.283%, and 5.298%.

For this week, Security Bank’s Mr. Aquino expects the inflation result on Thursday to be one of the market catalysts.

“We expect yields to remain range bound with a downward bias as inflation is expected to remain low,” he said, noting that the last month’s headline figure is likely to stay below two percent.

Mr. Aquino also expects the downward bias to continue until the first quarter of 2020 as the BSP continues “easing requirements by 100 to 200 bps next year” in line with Mr. Diokno’s goal of reducing the reserve requirement ratio for big banks before the end of his term in 2023.

Meanwhile, the bond trader said local yields “might move with an upward bias” this week amid bets of faster domestic inflation in November as well as the “likely upbeat” US economic data on manufacturing and labor.

“The increase in yields, however, might be capped by bets of another rate cut from the BSP [this month] and from lingering uncertainty on the US-China trade talks,” the bond trader added.

Sugar industry seeking performance audit for SRA

THE Confederation of Sugar Producers (CONFED) is seeking a performance audit of the Sugar Regulatory Administration (SRA) to ensure it is able to perform its mandate.

In Resolution No. 4, series of 2019-2020, CONFED made a request to Agriculture Secretary William D. Dar “to order the conduct of a performance audit on the SRA, including an examination of its current organizational structure and capabilities.”

“Given the industry’s current challenges, it is timely to examine the effectiveness by which SRA performed its mandated functions and responsibilities with the end in view of determining what measures are needed for SRA to serve the industry better,” CONFED said in the resolution.

The government’s economic team is currently considering liberalizing sugar imports along the lines of a similar opening up of the rice industry, noting the need to make food processors more competitive. The sugar industry has since turned its fire on the SRA for allegedly failing to implement projects to make the sugar industry more efficient, citing the agency’s inability to fully spend funds set aside for the upgrade projects.

Executive Order No. 18, series of 1986 created the SRA, which is tasked to promote growth of the sugar industry through the involvement of the private sector and to improve the lives of industry workers.

The agency is also tasked to implement the programs under the Sugar Industry Development Act (SIDA).

CONFED is urging the SRA to form a Project Management Unit which will implement the programs of the Sugar Industry Development Act (SIDA), as well as to create a Sugar Industry Development Council (SIDC), which will come up with activities to enhance the growth of the sugar industry.

SIDA, or Republic Act 10659, promotes the competitiveness of the sugarcane industry by maximizing the use of sugarcane resources while improving the income of sugar farmers and workers through higher productivity, product diversification, job creation, and higher sugar mill efficiency.

The annual budget for SIDA is P2 billion starting 2016, but after underspending was discovered in 2016 the Department of Budget and Management (DBM) reduced its funding to P1.5 billion in 2017, and to P500 million in 2018 and 2019. — Vincent Mariel P. Galang

Porsche unveils all-electric Taycan

Words and photos by Manny N. de los Reyes

SINGAPORE — The Force is strong in this collaboration. Two legendary icons, Porsche and Star Wars, joined forces (pardon the pun) at the Porsche Asia Pacific debut of the spectacular new all-electric Taycan in Singapore last Thursday, ahead of its regional (and Philippine) launch in 2020.

“The Taycan links our heritage to the future. It is a fascinating sports car with exciting driving dynamics, performance and technology — and like every Porsche ever built, it comes with a soul. Something you will feel immediately, once you get behind the steering wheel,” said Arthur Willmann, managing director of Porsche Asia Pacific.

“Asia Pacific is an important sales region for Porsche — with a continuously growing customer and fan base. With the Taycan, we are entering a new era and this spirit fits perfectly with the iconic Star Wars brand and the joint event here in Singapore,” said Matthias Becker, vice-president Region Overseas and Emerging Markets of Porsche AG.

Michael Mauer, vice-president Style Porsche at Porsche AG, who was present at the event, shared the design philosophy behind the vehicle. “Designing the Taycan was one of the most exciting tasks because the only certainty was that it had to be recognizable as a Porsche at first glance. And by pursuing the strategy of making it the sportiest in the segment, we have defined a new architecture for purely electric vehicles. Just like what the 911 has achieved, my vision is that the Taycan will become an icon of this new era, a synonym for a purely electric sports car,” he said.

As part of the unprecedented collaboration, the design teams at Porsche and Lucasfilm collaborated to design a fantasy starship in support of the upcoming Star Wars: The Rise of Skywalker, the final chapter of the Skywalker saga. Mr. Mauer, together with Doug Chiang, VP executive creative director, Lucasfilm, explained the design process and presented design sketches of the spacecraft highlighting the combined Porsche and Star Wars design DNA.

Mr. Chiang said, “Although one brand is placed in a fantasy universe and one in the real world, it’s interesting that both are defined very much by their iconic design principle. The basic challenge of the design brief was to design a starship that would both be true to the Star Wars universe and Porsche design DNA.”

The first all-electric sports car, the Taycan, marks the beginning of a new chapter for Porsche as the company expands its product range in the field of electromobility.

The flagship Turbo S version of the Taycan can generate up to 761hp overboost power in combination with Launch Control, and the Taycan Turbo up to 680hp. The Taycan Turbo S accelerates from zero to 100 km/h in 2.8 seconds, while the Taycan Turbo completes this sprint in 3.2 seconds. The Turbo S has a range of up to 412 kilometers, and the Turbo a range of up to 450 kilometers. The top speed of both all-wheel drive models is 260 km/h.

The Taycan is the first production vehicle with a system voltage of 800 volts instead of the usual 400 volts for electric cars. This is a particular advantage for Taycan drivers on the road: in just over five minutes, the battery can be recharged using direct current (DC) from the high-power charging network for a range of up to 100 kilometers.

The charging time for 5% to 80% SoC (state of charge) is 22.5 minutes for charging under ideal conditions, and the maximum charging power (peak) is 270 kW. The overall capacity of the Performance Battery Plus is 93.4 kWh. Taycan drivers can comfortably charge their cars with up to 11 kW of alternating current (AC) at home.

The Taycan Turbo has two exceptionally efficient electric machines, one on each axle, making the car all-wheel drive. The two-speed transmission installed on the rear axle is an innovation developed by Porsche. First gear gives the Taycan even more acceleration from a standing start, while second gear with a long gear ratio ensures high efficiency and equally high power reserves. This also applies at very high speeds.

Olympics fitness equipment supplier opens Makati showroom

TECHNOGYM, the official fitness equipment supplier of the Olympics since 2000, recently opened its new showroom located along Chino Roces Avenue in Makati City.

Established in 1983, the Italian brand best known for its professional and sports training equipment, which are anchored on its DNA of “design, innovation, technology and performance,” through the new showroom, looks to enhance further its presence in the country.

“The showroom is where we want people to discover fitness formats, products, and solutions for training at home. We want our clients’ training menu to be comprehensive, but also extremely refined,” said Marvin Navarro, sales manager of local TechnoGym distributor E-Sports International, during the showroom’s press launch on Nov. 21.

Showcased in the two-floor showroom is TechnoGym’s line of equipment, which includes the Kinesis Personal, a piece of designer gym furniture that utilizes a patented cable loop system to allow users to move tri-dimensionally without interference from the body, and the MyRun treadmill, which users can sync to their iPad to access instant running feedback.

“Each piece of equipment we offer is the complete package, and are designed to make workouts easy, efficient and even entertaining,” E-Sports managing director Audris Romualdez said in a statement.

Mr. Navarro said interested clients can check out and try the equipment in the showroom to immerse themselves in TechnoGym’s “Olympic Heritage.”

Most recently, TechnoGym supplied the equipment in the gym at the newly built world-class sports facility in the New Clark City in Capas, Tarlac, which the national athletics team used for their last leg of training in the just-started 30th Southeast Asian Games. — Michael Angelo S. Murillo

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