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Escape to South Island

Text by Angel Rivero
Photos by Jakob Kurc

WHERE’S the farthest South you’ve ever been?

My answer to this question is New Zealand’s South Island — officially named “Te Waipounamu” — home to some of the most pristine natural wonders left on the planet. Picturesque mountains, aptly called The Remarkables, greeted us as soon as we disembarked from the plane. Immaculate lakes, primeval-looking forests, and mighty glaciers abound. It is totally easy to figure out why this island was chosen as one of the major shooting sites for one of the best fantasy-novels-ever-written-turned-full-feature-films: the Lord of the Rings trilogy.

Our port of entry to the South Island was none other than the picture-perfect, adventure capital of world, Queenstown. The resort town fares especially high in many an adventurer’s bucket list, and that is because it is the birthplace of bungee jumping, is an amazing place to go skydiving, is the place where speedboats are specially engineered so that they could still speed through insanely shallow water, and is home to the highest cliff-jump swing in the world! I could go on and on, but you get the idea. Queenstown is a place of doing. And while you’re at it, you get to enjoy the amenities of an impressively well-equipped town that is gloriously uncrowded.

It’s almost too good to be true.

And you might already know, New Zealand’s South Island is a paradise for driving (in fact, it’s a necessity here if you plan to visit any of the breathtaking national parks). My choice of wheels for this holiday of adventure was the handsome, Ford Escape AWD Titanium 2.0-liter turbodiesel in Ruby Red. Its size was in a sweet spot for my taste — comfortable and commodious, but not gas-guzzling large. I was really happy that it didn’t carry a sharp-angled rear because it offered better storage space this way, without inhibiting rear visibility. My elevated sitting position also lent me an excellent command of the road — with the settings customizable via a 10-way, power adjustable driver’s seat.

The vehicle came with satellite navigation (extremely helpful when driving through the wilderness), an eight-inch display screen, and was equipped with Ford’s Sync3 hands-free media system that is compatible with Apple CarPlay and Android Auto. We also had the luxury of a premium Sony audio system with nine speakers. Best of all, the beautiful drives were ever more immersive, thanks to the Escape’s panoramic sunroof that constantly bathed us in sunlight and sky.

One thing important for visitors to understand about New Zealand, is that there is an earnest and sophisticated hiking culture there. The locals would rather refer to it as “tramping” — and boy, do they set the bar far and high! It is no surprise then that the country is consistently listed as among the best places to visit for hikes of a lifetime. In case you haven’t heard, there is such a thing as the “Nine Great Walks of New Zealand” — lasting anywhere from hour-long hikes to multi-day treks – and most of them are found within the national parks of South Island.

Every trek seduces the frisky hiker with incredible vistas en route, and most certainly at the very end, which often opens up to a breathtaking viewpoint unlike anywhere else. Having said that, getting to these remarkable trails requires driving to the trailhead in the heart of nature. And from my experience, driving the Ford Escape — and in tricky right-hand drive, mind you — never delivered a twinge of doubt, despite having to venture into some rough roads, bumpy surfaces, and an array of ever-changing terrain. There were no squeaks or rattles, and never did I ever feel a shortage in power.

When evening came, the Escape did not fail to please with its delightful driving aids, which includes adaptive lights go into automatic high beam when necessary, and some really cool automatic leveling of its active, bi-xenon headlights. Other generous safety features included are adaptive cruise control, lane-keeping aids, forward collision alert, and autonomous emergency braking. The vehicle is also equipped with intelligent AWD that adjusts the torque delivery to each wheel every 16 milliseconds.

To date, Ford has remained one of New Zealand’s most dominant vehicle brands — and for good reason! In my experience alone, it was a reliable and, very importantly, comfortable vessel that took me right into the middle of the South Island’s beautiful nature, which included the raw grandeur of Fjordland National Park — home to the storied allure of world-famous Milford Sound.

So, no matter its remoteness — a country ever the victim of being forgotten from the world map (yes, it’s true!) — a visit to New Zealand should definitely be up there in one’s bucket list. There are so many rich experiences to take home from this distant land. And as a Maori proverb goes: “Mai i te kopae ki te urupa, tatou ako tonu ai,” which translates to: “From the cradle to the grave, we are forever learning.” So, rattle ya dags… and let’s head to the wop-wops!

Peso to climb further on US, local data

THE PESO is likely to rise this week with the market anticipating better trade deficit data and with the market factoring in the positive US jobs report released late last week.

The local unit closed at P50.755 per dollar on Friday, strengthening by 2.50 centavos compared to its P50.78 finish on Thursday, according to data from the website of the Bankers’ Association of the Philippines.

Week on week, the peso also appreciated by 7.50 centavos from the P50.83-to-a-dollar close on Jan. 31.

Analysts said BSP Governor Benjamin E. Diokno’s hints on another rate cut as well as fresh signals from Beijing and Washington on their commitment to their phase one deal likely boosted the peso.

Mr. Diokno told Bloomberg TV in an interview on Friday that another rate cut may be possible by the middle of the year.

“Peso exchange rate closed stronger after BSP Governor [Benjamin E. Diokno] signalled another rate cut possible by mid-2020, after yesterday’s cut in local policy rates, improving sentiment on the local financial markets,” Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort said in a text message.

For his part, UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion said the peso’s strength came on the back of recent developments in the US-China trade deal.

“Market perception has slightly improved and more confident because of the reaffirmation to the commitment by both the US and China to their phase 1 deal,” Mr. Asuncion said in a text message.

For this week, analysts said among the factors that may affect exchange rates are some key economic data and the latest developments on the coronavirus outbreak.

“This [peso’s] strength is expected [to continue] next week with anticipated better trade data from last year,” Mr. Asuncion said.

“Major market leads that could have an impact on the peso include the latest US jobs data, Philippine trade deficit data, as well as latest developments on coronavirus,” RCBC’s Mr. Ricafort said.

The Philippine Statistics Authority will release the December trade deficit data on Feb. 11.

Both Mr. Ricafort and UnionBank’s Mr. Asuncion gave a forecast range of P50.60-P50.90 per dollar for this week. — L.W.T. Noble with Reuters

Greg Slaughter surprises with ‘taking a break’ announcement

By Michael Angelo S. Murillo
Senior Reporter

BARANGAY Ginebra San Miguel Kings big man Greg Slaughter surprised the Philippine Basketball Association with his decision at the weekend to “take a break” from playing after six years of parading his wares in the league.

In a post on his Instagram account, the 2013 top overall pick said with his contract having expired at the end of the season just passed, he would grab the opportunity to take a break and work on aspects of himself.

“With that, now that my contract has expired, I’ve decided to take a break to be able to work on myself in all aspects,” wrote Mr. Slaughter, 31, on Instagram on Saturday night.

“I may not know what the future holds, but one thing is for sure, the best is yet to come!” he added.

In six years with the Kings, Mr. Slaughter was a four-time champion, the most recent of which was the 2019 Governors’ Cup title won last month.

He was also a best player of the conference awardee in 2017 in the Governors’ Cup.

Mr. Slaughter viewed his Barangay Ginebra journey as an eventful one, thanking San Miguel Corp. and its boss, Ramon S. Ang, and the management on his IG post.

He also nodded on Coach Tim Cone and the rest of the Kings coaching staff and his teammates.

Mr. Slaughter thanked as well the Barangay Ginebra fans, who he considers as the best there is.

“To the best fans in the world — I can’t thank you enough for all the support you have shown me throughout the years. I will forever be grateful! #NSD,” he wrote.

While surprised by his move, many in the PBA expressed support to seven-foot “Gregzilla” and his decision and wished him luck on social media, including his teammates in Barangay Ginebra.

Among them were veteran Mark Caguioa, who is all set to ride into the sunset after the about-to-begin PBA Season 45; Japeth Aguilar and Aljun Mariano.

Also sending message of support were Doug Kramer, JC Intal, Allex Mallari and Juami Tiongson, among others.

Mr. Slaughter’s decision to take a break came amid talks that the Kings were planning to ship him out to another team, in particular for Northport big man Christian Standhardinger.

Mr. Cone and other Kings officials reportedly will try to talk to Mr. Slaughter about his decision and maybe for him to reconsider.

Nike football kits for the Tokyo 2020 Games unveiled

WHILE the 2020 Olympic Games in Tokyo, Japan are still a good five months away, global sports and lifestyle brand Nike has started unveiling gear and apparel that will be showcased at the quadrennial sporting spectacle, the most recent of which are its football kits.

Touted to mesh art and science, the kits, both uniforms and the shoes, were done in extensive collaboration with the federations that will be using the brand. Nike undertook deep cultural immersions and collaborated with each federation, taking a cue from what it did for the 2018 Nigeria Collection used in the FIFA World Cup which was well received since what the country is all about resonated in the designs.

For the 2020 Olympic collection, each team’s look will be celebrated with everything from hand-drawn prints to custom fonts. To further enhance distinction, Nike designers had 65 chassis options available to them across varying necklines, sleeves, cuffs, and badge placement, among others.

To complement their distinct appearance, the kits were infused with much innovation to bring out high performance from those who would wear them.

To achieve this, Nike first captured data on more than 300 footballers and football-specific movements.

The design team leveraged 4D visualization tools to bring the product to life before creating samples. This process helped Nike analyze how the kits would perform on the body with regard to stretching, draping, and fit.

Using generative design, Nike then knitted kits that are 55% faster wicking, 13% more breathable, and with 10% more stretch than Nike’s previous kits.

The precision knitting is reinforced where needed and vented in areas prone to heat.

The results of all these reveal a highly intricate knitting structure.

First to be unveiled were the kits for teams USA, Korea, and Nigeria.

The word “States” is very prominent in the kits of the US team — including the back of the away jersey and the back of the socks.

The home kit is white, elevated by details, while the away kit is a deep obsidian with pops of brighter blue and red accents.

US Soccer’s full collection is loaded with nods to the country’s love of multiple sports.

The Korea kit received a major redesign emblematic of the country’s vibrant culture and Hallyu pop culture.

The Korean Wave is represented on the home kit with a wavy pattern comprised of the trigrams from the national flag, while the away kit makes a bold statement on and off the pitch with a striking white tiger print on the jersey.

Complemented by a metallic gold Swoosh and crest applications, the kit is intended to feel a bit luxurious.

In 2018, Naija changed the game with a collection that set a new standard for how Nike approaches federation design.

For the 2020 Olympics, Nigeria picks up right where it left off with a home kit that fuses the traditional aesthetic of an agbada robe with modern football design

The away kit is inspired by Onaism, a traditional artistic movement central to Nigerian design and craft represented in the trim details.

NIKE AIR ZOOM MERCURIAL
Also unveiled last week was the concept football boot, the Nike Air Zoom Mercurial.

The boot is built around a full-length articulated Zoom Air bag that provides a unique underfoot sensation and enhanced energy return.

It has an internal boot chassis transitioned to the plate, leaving only the sockliner between the foot and the Zoom Air bag for maximum effect.

The boot features an upper made of Nike Flyprint, the brand’s first 3D-printed textile upper in performance footwear. It makes it lighter and more breathable than Nike’s previously employed textiles, while still coated with All Conditions Control (ACC) to battle the elements.

“The Air Zoom Mercurial is a glimpse into the future and where we could take things. With innovations like Air and Flyprint at our disposal, as well as those things still under development, there’s no limit to what football boots can become,” said Jeongwoo Lee, Senior Design Director at Nike Football, in a release. — MASM

Agriculture companies to cooperate in Canadian antitrust probe

MAJOR AGRICULTURE COMPANIES said on Thursday they would cooperate with a Canadian Competition Bureau antitrust probe sparked by allegations that certain businesses tried to block an online farm-supply start-up from operating in Western Canada.

The Canadian regulator confirmed earlier Thursday an inquiry was underway, but did not cite the companies being investigated.

Court documents filed on Jan. 30 in Canadian federal court show Bayer AG, Corteva Inc. and BASF were among those under scrutiny following a complaint from California-based online retailer Farmers Business Network Inc (FBN).

Farm-supply wholesalers, including Cargill Inc and Univar Solutions Inc are also being probed, the documents show, confirming an earlier Wall Street Journal report.

The Competition Bureau told the federal court it was seeking records and communications from the seed, pesticide and wholesaling companies which are alleged to have stopped supplying FBN’s newly acquired Canadian business in 2018. The bureau also said it appeared some company officials might have urged farmers and others in the industry not to do business with FBN.

Founded in 2014, FBN is developing an online marketplace for farmers to order crop inputs like pesticides, seed and other agricultural supplies. The company, which has been selling crop inputs through its e-commerce platform in the United States since 2016, entered Canada in November 2017.

The regulator told the court it believed the alleged conduct by the agriculture companies under inquiry prevents FBN from selling branded crop inputs.

“The foregoing may impede or delay FBN’s successful expansion into the Canadian market place and/or may cause FBN to exit the Canadian market place altogether,” the regulator wrote in its court filings.

BASF Canada, the Canadian affiliate of the German-based chemicals company BASF SE, said in a statement it believed the unit had not contravened Canadian competition legislation and was confident it could address any regulatory concerns.

US seeds and agricultural chemicals maker Corteva, Bayer and Cargill issued statements saying they would cooperate with the investigation. — Reuters

Missed calls

The play was set, and Damian Lillard executed it to perfection. Coming off a timeout, Blazers head coach Terry Stotts set up a high screen for him to exploit any way he chose, and he chose right. With Caleb Swanigan in the way, the Jazz’s Joe Ingles — not fleet of foot to begin with — was toast. It was Dame Time, and he showed it with a quick drive to the hoop that even the 18,306 fans at the Vivint Smart Home Arena figured to be a sure bucket. It didn’t matter that Rudy Gobert got a hand on his layin and prevented it from going through the hoop. It hit glass first, rendering the block illegal and netting him two points to tie the game.

There was just one problem, however: Not a single one of the officials saw the violation. Gobert’s rejection was thus deemed legitimate and, because it drew no whistle, not subject to review. The Blazers were, needless to say, livid. They felt they were robbed of a tie, and, in light of Lillard’s match-long heroics, their sixth win in seven outings. Instead, the Jazz would go on to claim victory, snapping a five-contest losing skein. And so incensed were they that they continued to rant long after the final buzzer. The threat of fines notwithstanding, they were vocal in their protestations. Lillard, Stotts, and CJ McCollum minced no words taking the referees to task.

To be fair, the men in gray did own up to the mistake. Crew chief Josh Tiven admitted that “we missed the play” after going through the standard post mortem. The National Basketball Association’s Last Two Minute Report was likewise clear, deeming it an “Incorrect Non-Call.” Significantly, it likewise underscored the limitations of the current review process. “Goaltending is only a reviewable matter when it is whistled on the floor by officials,” it noted. Argued Lillard, “three referees out there, and they don’t call that. I don’t wanna see no report about, ‘Oh, we should’ve called it’ or none of that. They cost us the game. We in a playoff race, and they cost us the game on an easy call.”

Significantly, the evident goaltend, even on real time, wasn’t the only thing that escaped the arbiters’ eyes. For some reason, the game clock stopped at 1:43 after Royce O’Neal made a trey to push the Jazz’s advantage to five. Not a single tick in the ensuing 12 seconds the Blazers used up to get Swanigan a 12-foot jumper was then officially reflected. Today, league records will show a difference of a single second between the two scores. And, tellingly, there is no mention of it in the Last Two Minute Report.

If there’s anything the Blazers-Jazz tiff proved, it’s that the league’s Replay Center in Secaucus, New Jersey should be given greater leeway. The system was set up to uphold the integrity of proceedings, not place them under even bigger clouds of doubt. It can’t be the cause of letting a wrong stand, or — as in the case of the Christmas Day contest between the Lakers and Clippers — turning a right into a wrong. And unless and until the Competition Committee finds the proper fixes, Lillard and Company won’t be the last to complain with reason.

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is a consultant on strategic planning, operations and Human Resources management, corporate communications, and business development.

ERC defers new secondary cap on power price spikes

THE Energy Regulatory Commission (ERC) is in no rush to set a new secondary price cap that limits the spike in energy prices at the wholesale electricity spot market (WESM), saying more pressing matters needed faster resolution.

“In the order of things, ang dami kasing pumasok na very urgent (several very urgent matters came in),” ERC Chairperson and Chief Executive Officer Agnes VST Devandera told reporters last week.

“Anyway, there’s one in place,” she added.

The ERC’s stance comes months after it asked market participants to submit until Nov. 4, 2019 their written comments on a draft resolution proposing to lower the secondary price cap to P4,502 per megawatt-hour (MWh) from P6,245/MWh to reflect current market conditions.

In a draft resolution, the secondary price cap will be imposed once the threshold 72-hour rolling generator weighted average price, or GWAP, is breached.

Ms. Devandera said the ERC could not say whether the draft would be issued in its final form in the first quarter or the first half of the year.

“[There’s] one in place for summer. For April or May meron pa naman ‘yung old cap (the old secondary cap is still there,” she said.

The decision comes despite expectations that power supply will be tight during the summer months. A deficiency prompts electricity distribution utilities to source additional supply from the spot market at prices higher than those pre-agreed in power supply deals. The higher prices form part of the charges tucked into consumers’ monthly power bill.

In its draft resolution, the ERC said the country continues to have tight power supply, which is worsened by plant outages, thus leaving consumers vulnerable to high WESM prices.

It said recent developments in the electricity market “impelled the ERC” to review existing threshold levels of the secondary price cap schemes and recalculate the same based on market data using the period 2016-2018.

The commission recalculated the cumulative price threshold level to P6,919/MWh equivalent to the generator weighted average price over a rolling three-day period or 72-hour trading interval in the WESM. The previous threshold was P8,186/MWh.

The ERC first imposed the secondary price cap through a resolution issued on May 5, 2014 as an urgent and interim mitigating measure in the WESM to counter spikes in the market prices of electricity.

On June 16, 2014 and Aug. 5, 2014, the regulator extended the effectivity of the pre-emptive measure for a specified period or until the creation of a permanent one, whichever comes earlier.

On Dec. 15, 2014, it made the measure permanent, thus putting a limit to the impact of extreme price volatilities and excessive levels of prices in the WESM. — Victor V. Saulon

Valentine’s Day (02/10/20)

Salvatore Ferragamo

TWO OF the fashion house’s icons, Fiocco Vara and Gancini, have come together in the Salvatore Ferragamo range of accessories, jewelry and leather goods dedicated to Valentine’s Day. Shades of red, pink, and eternally elegant black color a mini-capsule with contemporary appeal and a romantic feel. For women, the Vara Rainbow mini bag with front flap is available in red and pink. Shades of coral red, black, or bone, for the sandal, in a chunky heel version, featuring the new Vara bow whose color and leather matches the upper. Colorful silk ribbons embellished with a small gold-plated jewel, to be worn as a bracelet or choker. New minimalist earrings and necklaces with pendants with the Gancini symbol embellished with charms in the shape of a heart, a star (also available in a diamanté version), and a pearl. Leather is used instead for the slim bangle, whose enameled metal buckle replicates the Vara bow. For men, accessories continue the red and black theme: a calfskin leather wallet has a sophisticated three-dimensional texture and bears the iconic Gancini logo. The same theme is used again for the casual belts with double Gancini buckle. Eyewear completes the range, with a material combination of leather and metal. In the Philippines, Salvatore Ferragamo is available at Greenbelt 4, Rustan’s Shangri-La, Rustan’s Makati and Solaire Resort & Casino.

Tod’s

TOD’S PRESENTS it’s limited eition collection for Valentine’s Day: two bracelets in gold with charms dedicated to love and a little pouch bag with a sparkling T accessory. Tod’s is located at Greenbelt 4, Rustan’s Shangri-La, and Shangri-La Plaza.

Rustan’s

RUSTAN’S Department Store makes a number of suggestions for the perfect Valentine’s Day gift, an is offering several promotions in this season of love. Gentlemen can show their appreciation with something sparkling from the Silver Vault — precious stones from Roberto Coin, golden keepsakes from John Hardy, fancy earrings from Tamara Comolli, and diamond rings from Cento. In the same section, one will find leather accessories, pens, and watches from Montblanc, which make thoughtful presents for men. On Feb. 8 at Rustan’s Makati, from 4 to 8 p.m., Montblanc shoppers will receive a complimentary tote bag and personalized calligraphy service for a minimum single-receipt purchase worth P15,000. Customers cal also preview the latest timepieces from Piaget that day from 3 to 7 p.m. at Rustan’s Shangri-La. Rustan’s is offering special promotions this month. Those who shop for Valentine’s Day jewelry at Rustan’s Silver Vault in Makati and Shangri-La and spend a minimum of P100,000, can enjoy a three-course lunch for two at French restaurant Mireio at Raffles Makati until Feb. 16. At Rustan’s Cebu, recieve a P2,000 gift certificate from Pig & Palm for a minimum single-receipt purchase worth P100,000 at Silver Vault. All Rustan’s customers take home a box of Royce’ Pure Chocolate for a minimum single-receipt purchase worth P12,000 from Feb. 1 to 14. Each Rustan’s department store will set the mood for love with live musical entertainment on Feb. 8 and 9. Acts such as Saxybeast MNL, Jeremy Alex guitar duo, an instrumental quartet, and pianists will serenade shoppers. Diptyque customers get a complimentary 10 ml-bottle fragrance for every purchase of its newest fragrance, Eau Capitale. Meanwhile, home brands such as Robert Welch, Schott Zwiesel, and Amefa are offering 40% off on selected items. All Conair items are 20% off, while select items from Cuisinart are discounted up to 30%. Get 15% off on select mattresses, pillows and bed accessories from Senso. One can also take home a Swarovski water bottle for a minimum single-receipt purchase worth P18,000 of regular-priced items from Swarovski.

Dashboard (02/10/20)

ZS is top-selling MG in 2019

MG PHILIPPINES sold a total of 5,085 vehicles on its first year of operations — averaging 400 units a month — led by the MG ZS crossover SUV, which accounted for over half of MG sales here in 2019.

The company also launched three more all-new models last year: the RX5 SUV, the MG 6 Fastback sedan, and the new MG 5 sedan. The last is said to be a “class leader in its segment that is big in both size and features.” MG in a release said that its “vehicles continue to grow in popularity among Filipinos because of their high value-for-money proposition, attainable prices, modern driving aids, and safety features, all while being backed by a rich British heritage.”

MG Philippines has 24 dealerships nationwide: MG Alabang, MG Araneta-Cubao, MG BF Parañaque, MG Commonwealth, MG EDSA Centris, MG Makati, MG Marikina, MG Pasig, MG Shaw, MG Quezon Avenue, MG Batangas, MG Cabanatuan, MG Carmona, MG Dasmariñas, MG Lipa, MG Pampanga, MG. Sta. Rosa, MG Cebu-Mandaue, MG Bacolod, MG Iloilo, MG Tacloban, MG Cagayan De Oro, MG Davao, and MG Zamboanga. The firm targets to open at least seven more this year in key locations.

MG Philippines said its “aftersales complements” activated last year will continue this year to provide buyers a “pleasant MG ownership experience.” MG boasts a five-year/100,000km warranty (whichever comes first), and one year free periodic maintenance service (PMS).

Owners can also download the My MG mobile app on Google Play for Android, allowing them to easily schedule vehicle servicing appointments, make parts inquiries, and locate nearby MG dealerships. The app can also be used to book a visit from a Mobile Garage service caravan providing MG owners with vehicle home service for major technical issues. MG Hero Services, on the other hand, provides 24/7 roadside support through the MG Philippines hotline (+632 5328-4664).

Marketing campaigns in 2019 will roll out once more in 2020 such as the MG Live! free concert series, participation in the 2020 Manila International Auto Show (MIAS), and involvement in major sporting events in the UAAP and with popular mixed martial arts entity ONE Championship. MG promises to be “present in various mall roadshows and test drive events all over the country.”

MG Philippines last year received awards as well: Best Subcompact SUV (MG ZS) at the 15th Annual C! Awards, the Best Value for Money Compact Sedan of the Year (MG 6) at the 2019 Auto Focus People’s Choice Awards, and the 2019 Breakout Brand of the Year at the 2019 Top Gear PH Awards.

“We at MG Philippines are thankful to our clients, our executive committee, dealer partners, media friends, our partners from SAIC Motor International, our bank partners, and the numerous agencies who worked with us, for making 2019 such a breakout year for the brand,” said president and CEO Atty. Alberto Arcilla. “We have exciting things in store for 2020 and we eagerly enter this new year and decade with renewed anticipation and excitement, bolstered by all the positive indicators we received in the past year.”

For more information, visit www.mgmotor.com.ph. Follow MG Philippines on social media: OfficialMGPhilippines (Facebook) @mg_philippines (Instagram and Twitter) for more updates, or call the 24/7 MG Philippines hotline at (02) 5328-4664.


What cars did you look for on Carousell last year?

CLASSIFIEDS MARKETPLACE Carousell, launched in August 2012 and now present in eight Asian markets, revealed that Toyota was the most-searched auto brand in the Philippines last year. Honda, Mitsubishi, BMW, and Mercedes-Benz rounded out the top five, respectively.

In a release, Carousell said “it is not surprising that Toyota is the most dominant automotive brand in the Philippines” as the brand has become the perennial winner of the so-called “triple crown award” — leading in passenger car, commercial vehicle, and total vehicle sales. “Its popularity among second-hand buyers resonates very well as shown by its leading selection on Carousell in 2019.”

According to the platform, the most sought-after sport utility vehicles for 2019 are the Toyota Fortuner, Mitsubishi Pajero, Honda CRV, Toyota Land Cruiser, and Mitsubishi Montero Sport.

“Carousell places a high premium on optimum user experience satisfaction whenever our customers use our platform to search for a vehicle that perfectly suits their specific needs,” shared Carousell Philippines autos head Karl Magsuci. “That is why we always ensure that our listings offer the widest selection of vehicle and price options to a full range of buyers.”

The most looked-up vehicles on Carousell in 2019 are (in order): Honda Civic, Honda City, Ford Mustang, Honda Jazz, and Toyota Vios. Most-searched brands for MPV, AUV, and van models are (in order): Toyota Innova, Hyundai Starex, Toyota Rush, Mitsubishi L300, and Toyota Avanza.

Meanwhile, last year’s top motorcycle searches on Carousell include Yamaha, Vespa, Ducati, Honda, and Harley-Davidson. “Carousell’s automotive platform is ready to cater to the motoring needs of the Pinoy auto lovers, whether they are looking for used or brand new vehicles, parts and accessories, motorcycles, and even trucks and other special vehicles,” Magsuci added.

Carousell claims to make “selling as easy as taking a photo, buying as simple as chatting.” The platform now has over 250 million listings, and is said to be one of the world’s largest and fastest growing marketplaces in Southeast Asia, Taiwan, and Hong Kong. It is backed by Telenor Group, Rakuten Ventures, Sequoia Capital, Naspers, 500 Startups, Golden Gate Ventures, DBS, and EDBI. Carousell features a diverse range of products across a variety of categories, including cars, lifestyle, gadgets and fashion accessories. The free app is free for download on iOS and Apple devices. For more information, visit www.carousell.com and www.carousell.ph.


Gary Valenciano, a Volkswagen Lamando owner, poses with (third from left) Ayala Corporation Chairman and CEO Jaime Augusto Zobel de Ayala and (from left) Ayala Volkswagen dealerships COO Dino Santos, AC Industrials Group President and CEO Art Tan, and Volkswagen Philippines President Felipe Estrella.

New VW ambassador Gary V holds Feb. 22 concert

VETERAN ENTERTAINER Gary “Mr. Pure Energy” Valenciano is the newest brand ambassador of Volkswagen Philippines, and the partnership is set to be presented to the public during VW Philippines’ “We Move You” campaign on February 22 at the Activity Center of Trinoma in Quezon City.

In a release, Volkswagen Philippines described Valenciano as “the most recognizable total performer in Philippine show business. For over 34 years, he has made his indelible mark in the music, recording, film and television industries. Any production or entertainment number that features Gary V in it is guaranteed to inspire audiences to move, and be moved.”

The partnership is said to be a perfect collaboration between the two “movers” and game-changers in their chosen fields. Volkswagen said its “timeless designs, German engineering and performance, and security and safety in its vehicles — embodied in its flagship executive sedan the Lamando — jives in perfect rhythm with Gary V’s versatility, his ability to adapt to the times and performance levels, and his quiet sense of elegance and class that appeal to a wide mass of audiences.”

Coronavirus disrupts China meat imports, food supply during pork shortage

CHICAGO — Coronavirus is disrupting meat shipments to China as the country faces a shortage due to an outbreak of a fatal pig disease, Tyson Foods Inc and US agricultural groups said on Thursday.

An outbreak of African swine fever, which infects only pigs, has decimated China’s herd, pushing Chinese pork prices to record highs and increasing the need for meat imports.

However, coronavirus — which has killed 563 people so far — is keeping consumers and workers at home in China, delaying purchases at stores and restaurants and slowing the unloading of products at ports.

The disruption exasperates Beijing’s efforts to ensure adequate meat supplies and the plans of global companies like Tyson and JBS SA to profit from the shortage. The dual disease outbreaks also highlight the problems facing import-dependant China in its efforts to feed its population.

“There’s been disruptions at the ports,” Tyson Chief Executive Noel White said on a call with analysts. “That has skewed shipments, receivals.”

China has increased meat imports from the United States, Europe and Brazil as African swine fever has killed up to half its pigs since August 2018.

Beijing pledged to increase purchases of US farm goods in an initial trade deal last month, raising traders’ expectations for more pork shipments. China also eased restrictions on US beef imports and in November lifted a ban on US poultry meat shipments.

But coronavirus has clouded the outlook for Chinese demand, White said, as cities have been quarantined. He said Tyson is still shipping meat to China and has orders on its books.

“Once we get past the coronavirus incident, whenever that might be, I do think there is going to be very strong demand,” he said.

Meat is shipped to China in refrigerated containers that must be plugged into electrical outlets once they are offloaded to keep products cold.

Importing companies normally receive containers as they arrive, freeing up space for others. But several Chinese ports are at capacity on space for refrigerated containers and outlets because few receivers are picking them up, said Peter Friedmann, executive director of the Agriculture Transportation Coalition. Shanghai and Xingang have reported 100% utilization of available plugs, he said.

Meat shippers are also scrambling, selling to other countries or shipping to other Chinese ports, Friedmann said.

“Things are really getting bad over there,” USA Poultry & Egg Export Council President Jim Sumner said. — Reuters

PHL shares to move sideways on easing concerns

By Denise A. Valdez
Reporter

PHILIPPINE STOCKS are expected to keep moving sideways this week amid an easing in worries over the novel coronavirus (nCoV) and the start of the release of corporate earnings reports.

The 30-member Philippine Stock Exchange index closed Friday’s session flat with a 0.69-point increase to 7,507.20. However, on a weekly basis, the main index jumped 4.25% to put an end to four consecutive weeks of decline.

“Sentiment went for a roller coaster ride during the week, although optimists won after China’s central bank injected liquidity with the resumption of onshore trades to counter the effects of nCoV,” online brokerage 2TradeAsia.com said in a market note.

The local market closed as low as 7,137.03 on Feb. 3 due to investor worries across the globe over the economic impact of the novel coronavirus. But the PSEi started recovering on Feb. 4 until it reached its highest close in almost two weeks at 7,507.20 on Friday.

“Mid-week, China’s Finance Ministry said they would slash tariffs on 1,717 US items from 10% to 5% starting Feb. 14… The rally was capped towards the end of the week, after death toll from nCoV hit 636 as of Feb. 7, with those infected already at 31,161,” 2TradeAsia.com said.

Value turnover last week surged 89% to an average of P7.238 billion, fuelled by the reentry of offshore investors into the local bourse. Net foreign buying hit P147 million to turn around from the P609-million net foreign selling during the week prior.

“Given most seasoned fund managers’ weak tolerance for nCoV’s unknown risks, expect liquidity to flock into fixed income instruments for now, especially with several listed firms floating their respective corporate notes,” the online arm of F. Yap Securities, Inc. said.

It noted that those that risked investing during last week’s “roller coaster ride” must have gained 5% from Feb. 3’s PSEi close of 7,137.03 and Feb. 5’s close of 7,507.20.

“While it is normal to err on the side of caution for now, it is also worth to consider reaping higher returns, ahead of the second quarter dividend season. Trade a range and position gradually on bargains with cash flows that have historically been resilient,” it said.

Aside from last week’s events such as Chinese central bank’s effort to boost liquidity and the local central bank’s reduction of overnight borrowing rates, 2TradeAsia.com said the PSEi’s catalyst may be the release of corporate earnings in the coming days.

“For now, sentiment would ride on the release of 2019 earnings, as well as recalibration of 2020 outlook, post-nCoV, Taal eruption, even ASF (African Swine Fever),” it said.

It also said hopes of finding a cure to the novel coronavirus soon may be a factor in getting the market back to normal.

2TradeAsia.com put immediate support on the PSEi at 7,400 and resistance between 7,600 and 7,650.

BSP extends transition period for foreign banks’ SBL

THE BANGKO SENTRAL ng Pilipinas (BSP) is extending the transitory period of the current basis for the Single Borrower’s Limit (SBL) of foreign bank branches in a move to boost support for the government’s infrastructure projects.

In a statement on Saturday, the central bank said the Monetary Board (MB) is giving foreign bank branches until Dec. 31 to use twice the level of their net worth as basis for their SBL.

The SBL ensures banks’ credit exposure to a single client will only be at a maximum of 25% of the lender’s net worth in order to trim down risks that may arise from a borrower’s default.

“This will allow foreign bank branches existing prior to Republic Act (RA) No. 10641 to continue supporting the public sector’s initiatives under the Build, Build, Build program,” the central bank said.

The central bank added that the extension of the transitory period will give foreign bank branches enough time to look into their credit exposures and to implement measures in line with the new SBL regulations, even with the reduced base amount to take effect only by next year.

RA 10641 amended the regulatory capital composition of foreign bank branches, removing the “net due to head office/branches/agencies abroad” account, effectively aligning with the minimum capital requirement for local banks of the same category.

“The said account previously formed part of adjusted capital where prudential and/or regulatory limits, including the SBL, are anchored,” the BSP said.

UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion said the extension is positive for the financial system.

“The move to allow foreign banks do business in the local scene allows the higher probability of volatility and instability in the system. This will help cushion the domestic market and its players,” he said in a text message.

The BSP moved to allow for a separate 25% credit limit for public-private partnership (PPP) projects in 2010 in the hopes to lure banks into funding infrastructure projects of the government then under the leadership of former President Benigno Simeon C. Aquino, III. The said scheme lapsed by December 2016.

Meanwhile, in 2018, the MB allowed a separate SBL for special purpose entities that take part in implementing major infrastructure projects under the administration of President Rodrigo R. Duterte.

The MB has already approved 12 foreign bank applications since RA 10641 has been implemented in 2014. To date, there are 29 foreign banks that have set up shop in the country. — Luz Wendy T. Noble

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