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DA suspends bulb onion importations

THE Department of Agriculture (DA) ordered the suspension of imports of bulb onions until the investigation on cartel operations that allegedly manipulate the prices of locally-produced onions concludes.
In a social media post on Friday, Agriculture Secretary Emmanuel F. Piñol said the new directive is expected to “prevent the cartel from benefitting from their operations where they forced the drop in the buying price of local onions by leasing and closing cold storage facilities to onion farmers.”
The order came after the DA asked the Philippine Competition Commission (PCC) and the National Bureau of Investigation (NBI) last Wednesday to look into the closure of four major cold storage facilities used by farmers to store their produce. Mr. Pinol said this is an “apparent attempt” to push farmers to cut the prices of their goods.
“With the farmers’ produce bought at very low prices cornered and consolidated, traders could control the pricing of onion in the market and generate huge profits,” he wrote.
“The moratorium on the issuance of SPS (sanitary and pytho-sanitary) permits will be extended until such time the PCC and NBI have terminated their investigation,” the agriculture chief added.
SPS permits are issued by the Bureau of Plant Industry, which Mr. Piñol ordered to schedule only at the end of the harvest season for local farmers.
He also noted that farmer groups and importers have agreed to allow the resumption of onion importation only after the harvest season.
“The traders are expected to consolidate the local production as they await for the time when they will be allowed to import,” Mr. Piñol said. — Denise A. Valdez

Pilipinas Shell hikes capital spending by 46%

By Arra B. Francia, Reporter
PILIPINAS Shell Petroleum Corp. is ramping up spending to P6 billion in 2019, even as earnings fell due to the higher inflation and the weaker peso last year.
The listed firm said in a statement Friday that it plans to hike its capital expenditure by 46% this year, from the P4.1 billion spent in 2018.
“Pilipinas Shell plans to increase its investment to around P6.0 billion to support expansion plans of the retail business and optimization projects in the manufacturing and supply segment in 2019,” the company said.
The higher spending comes amid a drop in earnings last year, as Pilipinas Shell booked a net income of P5.1 billion. The company did not provide a comparative figure in its statement, but its 2017 filing shows that net income stood at P10.39 billion then, indicating a 51% plunge.
“We acknowledge the achievements of our people in delivering on our priorities, despite the challenging year… Strong corporate governance, consistent strategy, and commitment to our core values give us the confidence to compete in a challenging business environment,” Pilipinas Shell President and Chief Executive Officer Cesar G. Romero said in a statement.
Pilipinas Shell said its retail business remained to be the key driver of earnings in 2018, despite heightened competition, higher pump prices, and the nine-year high inflation during the third quarter.
The company ended 2018 with 1,084 locations following the opening of 50 new sites. It plans to add 50 to 70 more this year.
Its non-fuel retailing business, which includes its convenience store chain, posted a double-digit growth last year. The company opened 75 new Shell Helix Oil Change+ and Helix Service Centers, beyond its initial plan to open 30 to 50 sites. It likewise opened 33 Select stores and 17 deli2go stores, also way beyond its store expansion target of 15 to 20 locations.
Pilipinas Shell said it plans to implement projects that will enhance its Tabangao Refinery in the mid-term, in order to address the low refining margin environment in the region. It also noted that its North Mindanao Import Facility helped it post logistics savings better than initially expected.
Shares in Pilipinas went up 0.3% or 15 centavos to close at P50 each at the stock exchange on Friday.

Century Properties Group’s retail bonds get SEC go-ahead

CENTURY Properties Group, Inc. (CPG) has secured approval from the Securities and Exchange Commission (SEC) to issue up to P3 billion in fixed-rate retail bonds.
In a disclosure to the stock exchange on Friday, the Antonio-led property developer said the country’s corporate regulator has given the green light for its plan to issue P2 billion worth of bonds, with an oversubscription option of up to P1 billion.
The listed firm plans to use proceeds of the issuance to finance five affordable housing projects worth a total of P4.15 billion, as per the prospectus posted on its website.
The projects will be developed by Phirst Park Homes, Inc. (PPHI), its joint venture firm with Japan’s Mitsubishi Corp. that specializes in affordable housing projects.
The prospectus states that the projects are located in San Pablo, Laguna; Pandi, Bulacan; Calamba, Laguna; General Trias, Cavite; and San Fernando, Pampanga. These will be launched throughout the year, and are seen to be completed in 2022.
CPG said the five projects will deliver a total of 7,026 housing units across a total of 76.5 hectares.
The company said the remaining capex requirements will be funded by sales from these projects.
“Additionally, for the planned affordable housing developments of PPHI, equity capital calls from Mitsubishi Corporation as 40% shareholder shall be procured. To the extent more funding is needed, the project will procure project financing construction and contract to sell credit facilities,” the company said.
CPG tapped China Bank Capital Corp as issue manager, lead underwriter, and bookrunner for the offering.
The company will be spending P8-10 billion for its capital expenditures this year, to be used for residential and office projects as well as land acquisitions.
CPG reported a 72% increase in net income to P1.1 billion in 2018, against P650 million in the year before. Revenues also climbed 60% to P10.7 billion. The company previously focused on high-rise residential projects, but has diversified to more affordable housing and commercial leasing projects since 2017.
Aside from the affordable residential projects to be launched this year, CPG will also unveil four office buildings in line with its target to have 32 office and commercial buildings by 2021.
Shares in CPG dropped 1.79% or a centavo to close at 55 centavos each at the stock exchange on Friday. — Arra B. Francia

Philex delays copper-gold mine start by 4 years

MANILA — Philippine copper and gold producer Philex Mining Corp. on Friday said the start of output at its Silangan mine in the south of the country would be delayed by four years until 2022, hit by a national ban on new open-pit mining.
The Silangan copper and gold mine could be Philex’s biggest source of revenue after its 61-year-old Padcal mine in the north is expected to close in 2022.
Silangan was originally slated to begin production by 2018, but that has been set back by a ban on new open-pit mining introduced in 2017 as the government in one of the world’s top copper, gold and nickel producers tries to step up environmental protection.
Open-pit extraction has been used by many miners in the Philippines, but is blamed for massive environmental destruction in some areas.
Philex said in a statement on Friday that it was now looking at an infrastructure design that would allow it to use underground mining to extract ores.
“We are currently working on securing all requisite permits and approvals to operate Silangan,” said Philex Mining Chief Executive Officer Eulalio B. Austin. “We look forward to realizing the massive potential of a project of this magnitude.”
Philippine President Rodrigo R. Duterte has warned he might declare a total ban on open-pit mining as he ordered mining companies to reforest denuded sites. The existing ban also covers the $5.9 billion Tampakan copper-gold project in southern Mindanao island.
Silangan consists of three deposit areas — Boyongan, Bayugo and Kalayaan — with the latter a joint venture with Manila Mining Corp. Boyongan is expected to be the first to operate, by 2022.
Silangan’s development was previously estimated to cost $1.2 billion, based on open-pit extraction. Philex did not give any new estimate for the cost of the project.
Padcal accounted for 9 percent of gold output in the Philippines last year at 29,782 kilograms, and 20 percent of its copper concentrate production at 282,391 tonnes.
PROFIT DECLINE
Meanwhile, Philex Mining reported its net income stood at P608 million in 2018, down 63% from the P1.65 billion it recorded in the year prior.
Core net income likewise dropped 64% to P600 million last year, which the company attributed to “various headwinds particularly rising inflation, regulatory hurdles and depleting ore grades.”
“As it moves closer towards the end of mine life, Philex Mining will be focused on maximizing the remaining cash generation capabilities of Padcal,” the listed miner said in a statement.
Last year’s revenues declined by 16% to P7.6 billion from P9.1 billion in 2017, “primarily weighed down by lower tonnage across all products.”
Philex Mining milled a total of 8.517 million tonnes in 2018, 1.8% lower than the previous year’s output.
“Marginal ore grades, which are inherent within the fringes of the mineral body, contributed to weaker metal output… Mining operations were also hampered by the impact of typhoons causing power disruptions and manpower safety concerns leading to lesser operating days,” it added.
Philex Mining is one of three Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being PLDT, Inc. and Metro Pacific Investments 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. — Reuters with D.A.Valdez

Smart edges Globe in terms of mobile video experience — report

By Denise A. Valdez, Reporter
WIRELESS coverage mapping firm Opensignal said Smart Communications, Inc. is “far in the lead” against its rival Globe Telecom, Inc. in terms of providing a seamless mobile video experience to customers in the Philippines.
Expanding on its September 2018 report “The State of Mobile Video” — which tested more than 8 million devices globally from May 14 to Aug. 11, 2018 — Opensignal said in a separate report on Thursday that network operators in the Philippines show a “big gap” in mobile experience performance.
“Our analysis shows that Smart has been doing its legwork, but it also raises the question of whether we will need to wait for 5G (fifth generation network) to see any improvement in Globe’s network experience,” Opensignal said.
The report mentioned two metrics used to measure video experience: Video Load Time and Video Stalling Occurrence.
In terms of Video Load Time, which is the measure of waiting time before a video starts playing when using a long term evolution (LTE) connection, Opensignal said the delay for Smart subscribers is usually around five seconds, while the average time for Globe subscribers is 8.3 seconds.
For Video Stalling Occurrence, which measures the frequency of video interruptions among users, Smart again took the lead with only 15.7% of its users experiencing stalling while playing a video, versus Globe’s 40.3%.
“Now that 4G (fourth generation network) access in the Philippines is becoming more and more of a commodity, all operators will need to focus on improving their subscribers’ experience in other areas beyond LTE reach,” Opensignal said.
Earlier this month, the firm released a report measuring the availability of 4G in the Philippines, which found both Smart and Globe successfully delivering an LTE connection more than 70% of the time.
Smart is the wireless unit of PLDT, Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a stake in BusinessWorld through the Philippine Star Group, which it controls.

Alsons returns to profit in 2018

ALSONS Consolidated Resources, Inc. (ACR) swung to profitability in 2018, driven by the operations of its coal-fired power plant in Sarangani province.
In a statement issued on Friday, the Alcantara-led company said its net income attributable to the parent reached P93.5 million last year, recovering from a net loss of P21 million in 2017. This followed a two percent increase in consolidated revenues to P6.66 billion.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at P2.66 billion, 15% higher year on year, translating to an EBITDA margin of 40%, an improvement from a year ago’s 36%.
ACR mainly derives its revenues from Sarangani Energy Corp. (SEC), which runs a baseload coal-fired power plant in Maasim, Sarangani Province. The plant’s first section has a capacity of up to 105 megawatts (MW), and has been operating since April 2016, servicing about three million people in the General Santos-Sarangani area.
The listed firm is scheduled to start commercial operations of the plant’s second section by the middle of this year, which is set to add another 105 MW of baseload power. The project is seen to benefit another three million people in different parts of Mindanao.
ACR also has several power projects in the pipeline, including a P4.25-billion run-of-river hydroelectric power project at the Siguil River Basin in Maasim, Sarangani. The 14.5 MW project will be the firm’s first foray into the renewable energy space.
The company is also building a 105 MW baseload coal-fired power plant in Zamboanga City thorugh San Ramon Power, Inc.
Aside from its power generation assets, the company also engages in property development. It is currently developing the 27-hectare mixed use estate called Azuela Cove with Ayala Land, Inc. in Davao City. The first two towers in the township under the Ayala Land Premier brand are now under construction, and will be turned over in the first quarter of 2023.
Shares in ACR jumped 4.96% or seven centavos to close at P1.48 each at the stock exchange on Friday. — Arra B. Francia

ABS-CBN signs format deal with Indonesian firm for noontime show

ABS-CBN Corp. said it sold the franchise for the format of its flagship noontime show “It’s Showtime” to an Indonesian media firm.
In a statement on Friday, the Lopez-led broadcasting giant said it signed a deal with Indonesian television network MNCTV which will acquire the rights to the show’s format.
“The deal marks ABS-CBN’s first non-narrative format franchise buy by a foreign company and solidifies its position as a reliable content provider in the international arena,” it said.
For the Indonesian version of the show, MNCTV will adopt local segments such as “Sine Mo ‘To,” “Cash-Ya! Kaya!,” “Ansabe,” “Copy Cut” and “Bida Dance.” It will start airing in Indonesia on Monday.
ABS-CBN said it will also be sending “It’s Showtime” hosts Jugs Jugueta and Teddy Corpuz to Indonesia for the launch next week.
“ABS-CBN is proud to extend the ‘It’s Showtime’ brand of happiness in time for the program’s 10th anniversary to viewers in Indonesia to show that the network is a premier source of non-narrative formats,” Wincess Lee Gonzales, sales head of ABS-CBN International Distribution Asia, was quoted in the statement as saying. — Denise A. Valdez

Virtual currency ATMs need BSP approval

By Melissa Luz T. Lopez, Senior Reporter
FINANCIAL FIRMS that will provide virtual exchange conversions via automated teller machines (ATMs) must get the central bank’s approval before offering such service to the public.
The Bangko Sentral ng Pilipinas (BSP) issued Memorandum 2019-006 reminding banks that any plans to offer ATM conversions and withdrawals from cash to digital coins must be registered with the regulator.
In 2017, the regulator came out with rules requiring any firm that offers the exchange of money into virtual currencies (VC) and vice-versa needs to register with the BSP.
“In this regard, operators of ATMs that allow purchase or exchange of VCs (for example, Bitcoin) or other devices with similar functionality and capability, are considered as VCE (exchanges) and should register with the BSP pursuant to Circular No. 944,” the issuance read, as signed by Deputy Governor Chuchi G. Fonacier.
Cryptocurrencies like Bitcoin, Ethereum and Ripple are virtual currencies not regulated by any state or central bank. These digital coins can also be used to pay for goods through the Internet and can be treated as an investment, given their fluctuating valuations.
“As registered VCEs, they should comply with anti-money laundering/terrorist financing laws and regulations, ensure sufficient and appropriate controls and governance framework are adopted to manage the associated technology and other operational risks, and put in place adequate consumer protection and customer support, among others,” the central bank said in the March 14 memorandum.
In February, the UnionBank of the Philippines, Inc. revealed it is looking to roll out the first-ever VC ATMs in the country, which will allow customers to buy and sell cryptocurrencies for cash.
UnionBank Chairman Justo A. Ortiz said they already have the machine in the country, which they will place in their flagship The ARK branch along Ayala Avenue in Makati. He added that they will tap the services of financial technology firm Coins.ph to operate the exchange.
Coins.ph was among the first companies to get a VC exchange license under its corporate name, Betur Inc.
The central bank has warned the public to take caution in using privately-issued cryptocurrency for payments and investments given its “highly speculative and volatile” nature.
The Anti-Money Laundering Council has also said it is eyeing to cover digital currencies under its watch.

Peso surges as BSP keeps policy settings steady

THE PESO surged versus the dollar on Friday, boosted by the central bank’s decision to keep both interest rates and bank reserve levels steady during this week’s meeting.
The local unit ended the week at P52.32 against the greenback, up one percent or 52 centavos from Thursday’s P52.84 finish. This is the currency’s best showing since March 11’s P52.20 close.
The peso traded stronger throughout the session, opening at P52.60 to a dollar. It touched P52.67 as its weakest showing for the day before settling at its best rate at the closing bell.
Sought for comment, two traders both pointed to the results of the previous day’s Monetary Board meeting, the first to be chaired by new Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno.
“The main driver of course was the less-than-dovish BSP meeting [on Thursday]. There was no RRR (reserve requirement ratio) cut even if majority have been pricing in one,” one trader said in a phone interview.
The Monetary Board decided to keep the policy rate unchanged at 4.75% on Thursday, citing the need to be cautious even if inflation has been steadily dropping.
BSP Deputy Governor Diwa C. Guinigundo also said that the board has not yet trimmed the 18% RRR, noting that they “want to get the timing right” before unleashing additional money supply in the economy.
The trader added that “very dovish” comments from the US Federal Reserve at the close of its own policy review also kept the dollar down, and prompted market players to recalibrate their investments.
“Majority of market players were caught long, this prompted the players to cut their long dollar positions,” the trader said.
Dollars traded on Friday reached $1.18 billion, up from the $1.009 billion that exchanged hands the previous day.
Apart from the results of the rate-setting meeting, a second trader also noted the clarifications about the P52-55 exchange rate range previously stated by Mr. Diokno in a television interview.
“The BSP was not as dovish as expected. There was also no mention of an RRR cut, while Deputy Governor Guinigundo brushed off the P52-55 band,” the trader said.
Mr. Guinigundo said that the P52-55 range is not a BSP-imposed band on the exchange rate; instead, it was an assumption used by economic managers of the Duterte administration “for budget purposes.”
The trader said the clarification effectively “disregarded” Mr. Diokno’s previous comment, which also triggered a one percent drop for the peso on March 12. It was the same day when the new BSP chief announced plans to cut the RRR by one percent per quarter for the next four quarters. — Melissa Luz T. Lopez

PSEi climbs to 8,000 level on BSP decision

By Arra B. Francia, Reporter
THE MAIN INDEX advanced to the 8,000 level on Friday, riding on positive sentiment after the local central bank chose to keep interest rates steady in its policy meeting.
The 30-company Philippine Stock Exchange index (PSEi) jumped 0.73% or 58.7 points to close at 8,013.42 on Friday, marking its third straight session in positive territory. The broader all shares index likewise rose 0.5% or 24.52 points to 4,913.31.
“Local shares were still snapped up as the index flirted with the 8,000 level right after the BSP (Bangko Sentral ng Pilipinas) maintained its rates and a week before the quarter end close,” Regina Capital Development Corp. Managing Director Luis A. Limlingan said in a mobile phone message.
The BSP left interest rates unchanged for a third straight meeting on Thursday, keeping rates within the 4.25-5.25% range. The key rate remains at its decade-high of 4.75%.
At the same time, the BSP also trimmed its inflation forecast to three percent from 3.1% previously due to the lower-than-expected February print. The central bank also sees inflation to continue slowing down for the rest of the year.
Papa Securities Corp. Sales Associate Gabriel Jose F. Perez meanwhile attributed the PSEi’s performance to the US Federal Reserve’s decision to keep rates unchanged during its own policy meeting from March 19-20.
“The market continued to surge to break past the psychological 8,000 level, still being driven by yesterday’s momentum from the Fed’s dovish comments the other day,” Mr. Perez said in an email on Friday.
Wall Street indices also got a lift from the Fed’s dovish comments. The Dow Jones Industrial Average gained 0.84% or 216.84 points to 25,962.51. The S&P 500 index jumped 1.09% or 30.65 points to 2,854.88, while the Nasdaq Composite index soared 1.42% or 109.99 points to 7,838.96.
Back home, mining and oil was the sole counter that declined, dropping 0.29% or 24.59 points to 8,339.61.
The rest went up, led by services which climbed 1.07% or 17.1 points to 1,608.71. Industrials firmed up 0.7% or 82.37 points to 11,737.38; holding firms surged 0.62% or 49.29 points to 7,944.05; property increased 0.57% or 23.59 points to 4,111.50; while financials added 0.4% or 7.18 points to 1,789.47.
Turnover improved to P7.61 billion after some 1.36 billion issues switched hands, significantly higher than Thursday’s P5.66 billion.
Foreign investors were upbeat on Friday as they recorded P1.45 billion in net purchases, ballooning from P147.01 million seen in the previous session.
Advancers outpaced decliners, 116 to 77, while 50 names were unchanged.

NU, LSGH meet again in Finals of 2019 NBTC Nationals

FOR THE second straight year, National U-Manila and La Salle Green Hills-Mandaluyong are set to meet in the 2019 Chooks-to-Go NBTC League National Finals presented by SM after clearing their respective Fearless 4 matchups, Friday at SM Mall of Asia Arena.
NU-Manila barely hung on to beat San Beda-Manila, 91-90, if not for Gerry Abadiano’s heroics while LSGH-Mandaluyong turned back FEU-Manila, 87-77, to advance to the Div. 1 championship game set for Sunday still at the same venue.
Team captain Abadiano led the Bullpups with 23 points, four steals and three assists while Cyril Gonzales and Terrence Fortea each tallied 18 markers in the nail-biting win in the Fearless 4 of the national championship for high school backed by Chooks-to-Go, Darlington-Exped Socks, EPSON, Huawei, Freego, Purefoods, Gatorade, Go for Gold, SM, Molten, and presented by 5Plus and Lighthouse Events.
Jiam Quiambao contributed 30 points and 11 rebounds and Pampanga
After being down 26 late in the first half, the Red Cubs stormed all the way back and Penny Estacio’s layup even gave them the lead, 85-84, with 2:10 left to play.
Both squads then traded leads until ex-NU star and now-San Beda main man Rhayyan Amsali knotted it up again at 89-all with 22 ticks left.
After a timeout, Abadiano wasted away the clock before silencing the Red Cubs once and for all with a game-winning midrange jumper.
“Siguro, iniisip ko lang, syempre pina-practice ko lagi (yun). Iniisip ko lang, last shot na ‘to para mag-championship na kami,” shared Abadiano. “Pag tinira ko ‘to, bahala na. Bahala na kung pumasok or hindi, manalo or overtime. Nung tinira ko pumasok naman siya, sobrang saya.”
With two seconds still on the clock, Estacio had a shot to send the game into overtime after getting fouled at the buzzer, but missed his first freebie.
“That’s what I’ve been pointing out from the very first game, sinasabi kong pinakaimportante yung pagiging consistent namin,” said coach Goldwin Monteverde. “We were leading by 26 points pero once na matulog ka diyan, in a short span, pwedeng mahabol, which is what happened. San Beda played very well in the second half and on the other end naman, sama ng depensa namin.”
Amsali powered San Beda with 26 points and 10 rebounds while two-way guard Tony Ynot sparked the fightback and seized 16 markers and 7 boards.
Meanwhile, Joshua David led LSGH to an 10-point triumph over FEU with 21 points and six rebounds while Kobe Palencia gave a 17-point boost off the bench.
But the highlight of the game was the surprise return of NCAA 94 Juniors MVP Joel Cagulangan who is coming off ankle surgery, but still tallied eight points and three assists in eight minutes on the floor.
“Sobrang sarap sa pakiramdam kasi nakalaro ko na uli mga kakampi ko,” Cagulangan said. “Dapat nga bawal pa ako pero sabi ni coach. Gusto namin mag-Finals e.”
RJ Abarrientos did everything he could for FEU but eventually saw his 38-point eruption go to waste. The spitfire guard went down swinging, hitting 7-of-16 three-pointers.
The Greenies were well within control halfway through the fourth quarter, opening up a 14-point gap, 77-63, after a Jared Lao three-ball.
Staying true to his new reputation as the Baby Tamaraws’ “King of the Fourth,” however, Abarrientos then responded with two straight contested triples to trim the lead to seven with 3:57 left to play.
However, Cagulangan proved he has not lost his killer instinct and responded with two threes of his own in the last two minutes, effectively dousing cold water on Abarrientos’ hot streak and FEU’s finals hopes.
Before NU and LSGH square off for the national championship, however, fans will first get to see the best of the best high school ballers duke it out on Saturday in the NBTC All-Star Game, also at SM MOA Arena.
That exhibition, alongside the tournament Finals, will be aired live on ESPN5 and streamed live over at tv5.espn.com.
The centerpiece weekend of the week-long tourney is still free of admission, with fans needing just a valid ID to enter SM Mall of Asia Arena.

Globe myBusiness gathers tourism stakeholders at Breakthroughs: Tourism conference

The local tourism industry plays an important role in fueling the growth of the Philippine economy. In 2017 alone, tourism contributed around 21 percent of the country’s gross domestic product and spurred the expansion of other industries such as real estate, food and transportation sectors.
Small and medium-sized enterprises (SMEs), such as those engaged in the accommodation and food services sectors, have benefited from the unprecedented growth in the tourism industry and the rise in the number of visitors to the Philippines, which reached a record 7.1 million in 2018, up 7.65 percent from 2017, according to the Department of Tourism.
The accommodation and food services sectors account for the second largest in the number of SMEs in the tourism industry.
But challenges like a new breed of competition spurred by the pervasion of digital technology and innovative business models such as on-demand lodging and short-term rentals and the unexpected competition from online travel agencies are hampering the industry from maximizing the benefits of this growth.
In a survey conducted by SGS Philippines, it was revealed that there were three main issues that posed a threat to the continued growth of the tourism sector namely: the entry of new players in the market; retention of skilled employees; and, the lack of up-to-date marketing competency.
Cognizant of these problems that hounded the tourism stakeholders, Globe myBusiness is empowering the industry, particularly SMEs, through digitalization, to help them sharpen their competitive edge against the new entrants, help them understand the causes of attrition so that they can improve their retention rate, and enhance their marketing capabilities so that they can expand their market share and boost their businesses.
Thus, Globe myBusiness gathered more than 200 tourism industry leaders, business owners and other key players to a day-long conference dubbed as “Breakthroughs: Tourism” that seeks to empower and inspire participants to create the future of travel through talks from experts that tackle, among others, the various tourism trends that will shape their businesses in the years to come.
“Breakthroughs: Tourism is a testament to our commitment to empower small and medium businesses to thrive despite the challenges they encounter day-to-day by helping them use innovative technologies as a business advantage,” said Michelle Tapia, Head of Strategy, Innovation and Transformation at Globe myBusiness.
“For the tourism industry, we’re not only helping them understand digital disruption but enabling them to take advantage of it in creating the future of travel and tourism through talks on the changes and trends in their business environment and a visioning workshop to create the future of the tourism industry,” she added.
The conference also featured vision-setting exercises to help stakeholders further understand the future of the tourism industry, the challenges they have to face and cope with amid the fast evolution of technology, and the ongoing revolution in the digital world.
As a major provider of basic telecommunications services to the business community, Globe myBusiness is committed to be the partner in the success of SMEs in the tourism industry by providing them with the right technology and digital solutions.
“We at Globe would like to support this (tourism) industry because this industry needs a lot of updating in terms of the digital world.  Digital is changing how things are done.  Aside from promoting, there’s infrastructure that we need to bring.  I was personally involved in helping a resort owner in Busuanga, Coron to bring cell sites, more coverage because he has a wonderful resort.  Customers were complaining because they cannot share the wonderful photos on Instagram.  So we work together in partnership to create a business case that would really facilitate the building of facilities that will bring him 5-10 mbps of internet in his own resort.  It is possible that by working with us to make that happen.  As he said to me, his guests would rather have free wifi than free breakfast, ” said Ernest Cu, Globe President and CEO.
Department of Tourism Secretary Bernadette Romulo-Puyat was the keynote speaker of the conference. “Tourism is a multi-faceted industry.  The only way to enhance it is through a holistic development of the sector.  We will be advocates of responsible tourist destinations and we will be champions of sustainable tourism to create a dependable source of income for Filipinos.  With all the positive changes that we aim to bring forward in the next four years, we invite the private sectors to be our partners in responsibly developing tourism products, infrastructure and services, ”she said.
Meanwhile, a stellar panel of speakers discussed trends in the tourism industry, such as “Regional and Local Trends” by Raoul Villegas, Executive Director, Pricewaterhouse Coopers; “Customer Insights” by Gino Borromeo, Chief Strategy Officer, McCann Worldwide Philippines; “Emerging Tech and Tourism” by Alexander de Leon, Head of Product Marketing, Instagram APAC; “Destination Marketing” by Gary Cheng, Destination Marketing Manager, TripAdvisor; “Business Trends” by Desiree Bandal, Head of Government Policy and Government Affairs, AirAsia; and “Sustainability” by Hanniel Almasco, MPM, Environmental Officer, El Nido Resorts and AA Yaptinchay, DVM, Executive Director and Founder, Marine Wildlife Watch of the Philippines.
For more about Globe myBusiness, please visit https://mybusinessacademy.ph/ and mybusiness.globe.com.ph.
###
For more information, please contact:
Yoly C. Crisanto
Head, Corporate Communications
Globe Telecom, Inc.
Email Address: gtcorpcomm@globe.com.ph
Globe Press Room: www.globe.com.ph/press-room
Twitter: @talk2GLOBE │ Facebook: www.facebook.com/globeph

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