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B10 BUSINESS Saturday, 13 July 2019 Daily Tribune 98-meter passenger ferry arriving October Chelsea grew its net income by 21 percent to P139 million in the first quarter from P115 million in the same period last year on the back of increases in its shipping and logistic segments By AJ Bajo The tenth new roll on-roll off passenger (ropax) ferry procured by Dennis Uy-led Chelsea Logistics and Infrastructure Holdings Corp. with carrying capacity of 740 passengers, 22 buses and six trucks is slated for delivery in October this year. In a disclosure to the stock exchange on 12 July, shipping and logistics firm Chelsea said the 98-meter M/V Trans-Asia 20 (Hull No. S-1190) was launched on 5 July at the Japan shipyard of its builder Kegoya Deck Co., Ltd. Chelsea president and chief executive officer Chryss Alfonsus Damuy said that there are “a number of new projects still in the pipeline” under its agreement with Kegoya, in line with its bid to support the shipping industry’s modernization. “We expect our fleet expansion program to contribute to our market dominance and to continue to provide an alternative reliable transportation to Filipinos,” Damuy was quoted as saying. M/V Trans-Asia 20 brings Chelsea’s total fleet to 89 vessels. This includes 30 ropax vessels, 11 fast crafts, 15 cargo shops, 12 tankers, 15 tugboats, four barges and two floating docks. The addition also wraps up Chelsea’s plan of acquiring two new vessels this year, as it has also received a 67-meter ropax last April. Chelsea and Kegoya has also started the construction of another 98-meter bed/seat ropax ferry, which has a gross tonnage of 5,100 CALCULATIONS by the Asian Institute of Petroleum Studies show that coco diesel blend of 5 percent from 2 percent at the moment should push the per liter price higher by only 20 centavos or way cheaper than government projection of P2.49 per liter. ‘5% CME should not be expensive’ Coco-biodiesel makes diesel fuel burn easily and completely, leading to more power and mileage improvement The Philippine Biodiesel Association (TPBA) on Friday urged regulators to increase the biodiesel component in locally available diesel from 2 percent at the moment to 5 percent. At 5 percent, the TPBA said the cost of biodiesel should not top 20 centavos more than they cost at present, unlike what some people are saying at the Department of Energy who claim the higher CME blend could push the price higher by P2.49 per liter. “We need to correct the wrong computation and right now that’s a hurdle that we have to overcome because the people in the Department of Energy, they think that what they’re doing is correct,” Rafael Diaz, Asian Institute of Petroleum Studies Inc. president, told reporters. The 11-company TPBA supports the phased increase in biodiesel starting with 3 percent this year and 5 percent by 2021. Coco-biodiesel, or coconut methyl ester (CME) was first adopted in 2007 with the implementation of Republic Act 9367 or the Biofuels Act of 2006 when diesel was 1 percent CME and 2 percent the following year. The proportion has not changed since then. We need to correct the wrong computation and right now that’s a hurdle that we have to overcome because the people in the Department of Energy, they think that what they’re doing is correct. According to Diaz, Malaysia and Indonesia currently have an oversupply of palm oil, hence the increase in their use of palm-biodiesel. The Philippines can do the same with the oversupply of coconut oil. It should be noted however that coconut oil is far more superior as a biodiesel feedstock compared to palm oil and other types of oil (including soya bean oil, canola oil, and sunflower oil), which would make our local biodiesel better in quality. Diaz said increasing the CME blend may not lower pump price of diesel at this time, but the fuel savings translates to measurable mileage gain and the savings can be substantial. “Coco-biodiesel makes diesel fuel burn easily and completely, leading to more power and mileage improvement,” Diaz explained. “If there is a 10 percent mileage improvement and diesel cost is at P40, you can effectively save P4 per liter.” He brushed aside claims that CME is expensive and anti-consumer, saying these are unsubstantiated past issues. Maria Romero NEARLY two dozen buses, half a dozen trucks and 740 souls could be accommodated with comfort at the 98-meter roll-on roll-off ferry purposely built in Japan for Chelsea Logistics and Infrastructure Holdings Corp set for delivery in over three months. equipped with similar capacity as M/V Trans-Asia 20. It will be finished and delivered in April 2020. In the latter part of June, the company said that it signed an agreement with another Japan-based shipbuilder, Fukuoka Shipbuilding Co. Ltd., for the order of a 123-meter ropax vessel. The ship will be delivered by June 2021. Chelsea’s units include Chelsea Shipping Corp., Starlite Ferries Inc., Fortis Tugs Corp. and TransAsia Shipping Lines, which it acquired early this year. Chelsea grew its net income by 21 percent to P139 million in the first quarter from P115 million in the same period last year on the back of increases in its shipping and logistic segments. FRIDAY 12 JULY 2019 PHILIPPINE STOCK EXCHANGE NAME OPEN HIGH LOW CLOSE VALUE (P) FINANCIALS BANKS ASIA UNITED 58.9 58.9 58.9 58.9 294,500 BDO UNIBANK 145.1 149.1 145.1 148.2 319,915,340 BANK PH ISLANDS 80.5 82 80.4 81.05 386,705,392.50 CHINABANK 27.15 27.45 27.15 27.45 2,761,895 EAST WEST BANK 12.14 12.22 12.1 12.16 7,866,000 METROBANK 72.2 73.6 72.2 72.9 204,927,283 PB BANK 13.2 13.2 13.2 13.2 25,080 PBCOM 20.5 20.55 20.5 20.5 229,620 PHIL NATL BANK 54.15 54.25 53.3 53.85 6,479,242.50 PSBANK 58 58.4 58 58 175,760 RCBC 26.4 27 26.4 27 375,670 SECURITY BANK 180 183 178.4 179 120,884,435 UNION BANK 62.2 62.2 60.9 61 1,123,983.50 OTHER FINANCIAL INSTITUTIONS BRIGHT KINDLE 1.24 1.24 1.24 1.24 73,160 BDO LEASING 2.36 2.36 2.35 2.35 587,510 COL FINANCIAL 18.76 18.76 18.7 18.7 155,234 FIRST ABACUS 0.53 0.53 0.53 0.53 10,600 FERRONOUX HLDG 4.87 4.87 4.78 4.8 125,040 IREMIT 1.3 1.35 1.3 1.35 6,650 MEDCO HLDG 0.48 0.48 0.475 0.475 332,550 NTL REINSURANCE 0.99 0.99 0.99 0.99 71,280 PHIL STOCK EXCH 188.1 190 188.1 190 11,305 SUN LIFE 1,751 1,752 1,751 1,752 35,025 INDUSTRIAL ELECTRICITY, ENERGY, POWER & WATER ALSONS CONS 1.35 1.35 1.35 1.35 1,350 ABOITIZ POWER 36.5 36.9 36.5 36.5 38,495,310 BASIC ENERGY 0.26 0.265 0.26 0.265 314,750 FIRST GEN 26.5 26.8 26.1 26.8 198,044,640 FIRST PHIL HLDG 89.2 90.25 89.2 89.95 41,163,492 MERALCO 385.4 385.4 381.4 381.4 57,837,114 MANILA WATER 25.3 25.55 24.85 25 24,640,255 PETRON 5.7 5.7 5.61 5.61 30,135,346 PETROENERGY 4.76 4.78 4.72 4.77 342,560 PHINMA ENERGY 2.42 2.45 2.4 2.44 14,449,690 PHX PETROLEUM 12.06 12.06 11.9 12.06 27,404 PILIPINAS SHELL 39.2 39.2 38.85 39.05 9,764,465 SPC POWER 6.54 6.59 6.48 6.49 1,534,514 FOOD, BEVERAGE & TOBACCO AGRINURTURE 14.5 14.5 14.3 14.48 12,565,708 CNTRL AZUCARERA 15.52 17 15.52 17 122,840 CENTURY FOOD 14.6 14.8 14.52 14.62 4,961,442 DEL MONTE 6.05 6.19 6.05 6.1 34,102 DNL INDUS 10.26 10.28 10.08 10.1 41,007,092 EMPERADOR 7.54 7.55 7.5 7.55 16,601,990 SMC FOODANDBEV 103 104.9 102 102.3 29,293,077 ALLIANCE SELECT 0.8 0.84 0.8 0.82 1,386,840 GINEBRA 57.5 58.3 57.5 57.7 9,141,188.50 JOLLIBEE 282 282.6 280.4 280.4 254,900,036 MACAY HLDG 8.96 9.39 8.9 9.39 109,955 MAXS GROUP 13.8 14 13.8 13.86 30,101,478 PEPSI COLA 1.81 1.84 1.74 1.77 10,895,490 SHAKEYS PIZZA 14.1 14.44 14.1 14.36 15,973,210 ROXAS AND CO 1.35 1.36 1.35 1.35 186,470 RFM CORP 4.94 5 4.94 5 1,203,640 ROXAS HLDG 2.08 2.1 1.94 2 137,480 UNIV ROBINA 173.1 174.5 171.7 171.7 83,536,758 VITARICH 1.21 1.23 1.2 1.23 1,405,590 VICTORIAS 2.58 2.58 2.58 2.58 12,900 CONSTRUCTION, INFRASTRUCTURE & ALLIED SERVICES CONCRETE A 89 94.95 87.5 93.4 1,192,255 CONCRETE B 105 108.9 100.4 108.9 625,627 CEMEX HLDG 2.86 2.87 2.8 2.8 9,189,980 EAGLE CEMENT 15.24 15.42 15.24 15.3 6,308,926 EEI CORP 11 11.28 11 11.18 7,526,118 HOLCIM 14.6 14.96 14.22 14.48 22,877,840 MEGAWIDE 18.98 18.98 18.88 18.9 8,779,526 PHINMA 9.25 9.25 9.25 9.25 92,500 TKC METALS 1.2 1.2 1.17 1.19 238,120 VULCAN INDL 1.4 1.4 1.35 1.36 3,674,060 CHEMICALS CROWN ASIA 1.97 1.98 1.96 1.98 161,330 MABUHAY VINYL 3.28 3.42 3.27 3.42 78,960 PRYCE CORP 4.86 4.86 4.8 4.84 480,240 ELECTRICAL COMPONENTS & EQUIPMENT CONCEPCION 40.3 40.3 40.3 40.3 8,060 GREENERGY 2.6 2.61 2.54 2.58 21,576,610 INTEGRATED MICR 10 10 9.92 10 3,244,356 IONICS 1.7 1.7 1.66 1.69 182,440 PANASONIC 5.86 5.87 5.86 5.87 706,381 SFA SEMICON 1.1 1.12 1.08 1.1 376,760 CIRTEK HLDG 17.3 17.6 17.1 17.42 6,618,848 HOLDING FIRMS ABACORE CAPITAL 0.98 0.99 0.95 0.99 18,354,210 ASIABEST GROUP 12.74 13.3 12.74 13.24 1,263,886 AYALA CORP 910 921.5 910 917 244,270,900 ABOITIZ EQUITY 56.8 57.1 56 56 61,512,908 ALLIANCE GLOBAL 15.74 15.74 15.5 15.5 79,049,806 AYALA LAND LOG 3.78 3.9 3.76 3.89 8,788,080 ANSCOR 7 7.01 7 7 1,444,103 ANGLO PHIL HLDG 0.73 0.74 0.73 0.74 43,360 ATN HLDG A 1.29 1.29 1.28 1.28 2,186,970 ATN HLDG B 1.31 1.31 1.28 1.31 1,269,160 COSCO CAPITAL 7.06 7.08 7.02 7.08 58,214,151 DMCI HLDG 10.16 10.4 10.1 10.1 26,055,552 FILINVEST DEV 13.96 13.98 13.6 13.98 2,954,752 FORUM PACIFIC 0.24 0.24 0.24 0.24 24,000 GT CAPITAL 881 901 881 900 284,496,745 HOUSE OF INV 6.37 6.41 6.37 6.41 703,937 JG SUMMIT 68.6 68.95 67.85 67.85 85,867,551 LODESTAR 0.495 0.495 0.485 0.485 24,400 LOPEZ HLDG 4.46 4.46 4.38 4.4 6,816,680 LT GROUP 15.7 15.8 15.62 15.76 39,826,420 MABUHAY HLDG 0.63 0.67 0.62 0.64 4,378,990 METRO PAC INV 4.82 4.86 4.78 4.78 197,695,860 PACIFICA 0.04 0.042 0.04 0.04 2,293,700 PRIME MEDIA 1.78 1.81 1.73 1.76 4,974,660 REPUBLIC GLASS 2.81 2.81 2.81 2.81 14,050 SOLID GROUP 1.4 1.4 1.36 1.37 88,950 SM INVESTMENTS 980 981 960 960 168,262,805 SAN MIGUEL CORP 177 177.5 175.5 176 61,820,125 SOC RESOURCES 0.83 0.85 0.81 0.84 61,920 TOP FRONTIER 262 262 261 262 34,050 WELLEX INDUS 0.244 0.244 0.24 0.244 272,320 ZEUS HLDG 0.305 0.305 0.295 0.3 622,400 PROPERTY ARTHALAND CORP 1.06 1.1 1.04 1.07 17,155,840 AYALA LAND 52.6 53 52.3 53 599,248,429.50 ARANETA PROP 2.01 2.04 2 2.03 137,330 BELLE CORP 2.3 2.35 2.3 2.31 109,320 A BROWN 0.88 0.9 0.86 0.87 5,701,960 CITYLAND DEVT 0.91 0.94 0.91 0.94 18,320 CROWN EQUITIES 0.24 0.246 0.24 0.246 612,970 CEBU HLDG 6.35 6.35 6.35 6.35 635 CEB LANDMASTERS 5.16 5.2 5.16 5.18 2,016,649 CENTURY PROP 0.62 0.63 0.61 0.62 11,170,800 CYBER BAY 0.45 0.45 0.445 0.445 454,250 DOUBLEDRAGON 24.7 25.1 24.6 24.7 6,095,495 DM WENCESLAO 9.81 9.89 9.7 9.76 5,891,136 EMPIRE EAST 0.47 0.475 0.465 0.475 2,869,450 EVER GOTESCO 0.123 0.123 0.122 0.122 26,850 FILINVEST LAND 1.82 1.91 1.81 1.91 238,630,000 GLOBAL ESTATE 1.38 1.41 1.38 1.41 2,449,590 8990 HLDG 15.5 15.54 15.5 15.5 12,741,932 PHIL INFRADEV 1.73 1.73 1.7 1.72 3,060,960 Willful leadership transforms Manila From page B9 Senator Lacson also extols Moreno saying: “Leaders like him make me think about retirement.” Senator Recto also said: “Isko Moreno is the glowing ‘Exhibit A’ of the reality that many of the country’s problems can be solved without having to rewrite the constitution.” Interior Secretary Eduardo Ano also throws his support to Moreno’s programs, saying that he should keep up the good work and stay true to his programs. Ano highlighted the clearing of informal settlers from creeks and other danger zones to help the Manila Bay Rehabilitation Program. On top of his clean-up drive, the articulate Moreno is also saying a lot of right things. He said he is preserving the Arroceros pocket forest, cleaning up Manila Zoo and working with the Department of Tourism to develop Intramuros as a safe tourist district. Mayor Isko wants to develop a “tourism circuit” that would link Intramuros to the National Museum, Rizal Park, Binondo and other heritage districts in the city. The Mayor also said he plans to work with the Intramuros Administration (IA) to support its “urban regeneration” initiative. Tourism Secretary Berna Romulo Puyat supports Mayor Isko. She noted that “Manila is the crucible of Philippine history and culture, and the primary gateway to the country’s 7,641 island destinations. We share the vision and enthusiasm of Mayor Moreno in providing our international visitors a great first impression of the Philippines as soon as they set foot in Manila.” Nobody said it would be easy, but heavy is the head that wears the crown. But if it is any indication, it looks like many of our new mayors are up to the task. They exude an aura that they are tired of the old way of doing things. The new blood wants change, and they want it now. And now that they are making the moves, they are now changing people’s hearts and minds. And sometimes that is all you need to build a better tomorrow. As for Mayor Isko, he said he has just gotten started and alleviated fears he is all ningas cogon. The public for sure will keep tab on that. NAME OPEN HIGH LOW CLOSE VALUE (P) CITY AND LAND 0.78 0.81 0.78 0.81 68,440 MEGAWORLD 6.16 6.3 6.11 6.3 193,287,155 MRC ALLIED 0.345 0.35 0.34 0.345 3,079,050 PHIL ESTATES 0.48 0.51 0.48 0.51 137,500 PRIMEX CORP 2.15 2.16 2.15 2.15 411,120 ROBINSONS LAND 27 27.5 26.8 27.5 167,011,285 PHIL REALTY 0.405 0.405 0.405 0.405 4,050 ROCKWELL 2.29 2.35 2.29 2.3 3,268,920 SHANG PROP 3.18 3.19 3.07 3.19 388,270 STA LUCIA LAND 1.98 2.01 1.91 2 2,501,220 SM PRIME HLDG 39.2 39.25 38.3 38.3 286,074,870 STARMALLS 6.2 6.2 6.11 6.2 287,598 SUNTRUST HOME 0.83 0.89 0.8 0.83 4,952,420 VISTA LAND 7.24 7.34 7.23 7.27 36,495,863 SERVICES MEDIA ABS CBN 17.56 17.68 17.48 17.5 1,363,046 GMA NETWORK 5.4 5.4 5.31 5.33 840,039 MANILA BULLETIN 0.51 0.55 0.51 0.53 451,740 TELECOMMUNICATIONS GLOBE TELECOM 2,200 2,240 2,112 2,200 84,279,270 PL<strong>DT</strong> 1,224 1,245 1,214 1,214 168,172,265 INFORMATION TECHNOLOGY APOLLO GLOBAL 0.047 0.052 0.047 0.052 11,569,600 DFNN INC 5.96 6.2 5.9 6.2 61,446 IMPERIAL 1.91 1.95 1.91 1.95 75,090 ISLAND INFO 0.117 0.12 0.117 0.119 141,020 ISM COMM 5.96 6.03 5.71 5.8 47,111,315 NOW CORP 2.65 2.68 2.56 2.59 13,954,310 TRANSPACIFIC BR 0.35 0.35 0.34 0.35 1,095,550 PHILWEB 4.1 4.36 4.05 4.24 34,211,310 TRANSPORTATION SERVICES 2GO GROUP 11.18 11.2 10.9 11 70,526 ASIAN TERMINALS 21.6 21.6 21.6 21.6 2,160 CHELSEA 7.95 8.04 7.7 7.87 36,454,485 CEBU AIR 92.9 94 92.9 93.5 30,187,463 INTL CONTAINER 143 144.7 142.8 143.6 152,539,484 LORENZO SHIPPNG 0.9 0.9 0.87 0.89 501,660 MACROASIA 19.5 19.52 19.4 19.48 3,276,176 PAL HLDG 9.3 9.4 9.2 9.2 63,010 HARBOR STAR 2.15 2.15 2.11 2.12 3,391,450 HOTEL & LEISURE ACESITE HOTEL 1.42 1.45 1.4 1.45 396,710 BOULEVARD HLDG 0.063 0.065 0.061 0.063 8,869,760 WATERFRONT 0.79 0.81 0.78 0.8 7,995,680 EDUCATION CENTRO ESCOLAR 7.01 7.01 7 7 15,407 FAR EASTERN U 894.5 894.5 894.5 894.5 17,890 IPEOPLE 9.7 9.9 9.7 9.9 120,530 STI HLDG 0.8 0.8 0.77 0.8 2,723,300 CASINOS & GAMING BERJAYA 2.72 2.72 2.62 2.63 840,930 BLOOMBERRY 11.4 11.54 11.36 11.5 114,472,346 PACIFIC ONLINE 2.98 2.98 2.85 2.9 543,690 LEISURE AND RES 3.72 3.72 3.64 3.7 1,547,590 MANILA JOCKEY 3.3 3.41 3.29 3.3 2,155,440 PH RESORTS GRP 5.18 5.2 5.16 5.19 209,709 PREMIUM LEISURE 0.71 0.74 0.7 0.71 10,848,830 TRAVELLERS 5.38 5.55 5.38 5.5 7,005,590 RETAIL METRO RETAIL 2.6 2.64 2.59 2.63 3,147,720 PUREGOLD 45.6 46.15 45.6 45.9 101,914,580 ROBINSONS RTL 78.75 80 77.95 80 48,320,891 PHIL SEVEN CORP 132 140 132 140 33,163,520 SSI GROUP 3.54 3.58 3.43 3.44 13,247,810 WILCON DEPOT 16.86 16.92 16.82 16.82 19,044,742 OTHER SERVICES APC GROUP 0.56 0.56 0.52 0.53 5,499,320 EASYCALL 9.98 10 9.62 9.62 188,398 GOLDEN BRIA 428.4 428.4 420 420 147,818 IPM HLDG 5.7 6 5.7 5.75 53,770 PRMIERE HORIZON 0.88 0.89 0.85 0.85 16,860,560 SBS PHIL CORP 9.39 9.49 9.35 9.49 320,416 MINING & OIL MINING ATOK 12.3 12.3 11.48 12.08 35,332 APEX MINING 1.11 1.14 1.1 1.14 2,518,450 ABRA MINING 0.0018 0.0019 0.0016 0.0018 3,538,100 ATLAS MINING 2.7 2.7 2.7 2.7 2,700 BENGUET A 1.25 1.25 1.25 1.25 60,000 CENTURY PEAK 2.84 2.84 2.81 2.81 510,300 DIZON MINES 7.87 7.87 7.78 7.78 3,906 FERRONICKEL 1.45 1.46 1.43 1.44 634,920 GEOGRACE 0.222 0.222 0.218 0.218 34,980 LEPANTO A 0.107 0.11 0.107 0.109 34,650 LEPANTO B 0.123 0.123 0.123 0.123 19,680 MANILA MINING A 0.0077 0.0077 0.0075 0.0075 120,200 MARCVENTURES 1.23 1.23 1.15 1.18 747,460 NIHAO 1.04 1.04 1.03 1.03 89,620 NICKEL ASIA 2.25 2.27 2.19 2.25 2,869,420 ORNTL PENINSULA 0.84 0.85 0.84 0.85 49,230 PX MINING 3.55 3.6 3.53 3.54 177,330 SEMIRARA MINING 22.35 22.9 22.35 22.5 33,297,500 OIL ORNTL PETROL A 0.012 0.013 0.012 0.013 2,641,800 ORNTL PETROL B 0.012 0.012 0.012 0.012 18,000 PHILODRILL 0.01 0.011 0.01 0.01 38,100 PHINMA PETRO 4.7 4.8 4.68 4.8 1,167,820 PXP ENERGY 7.65 7.9 7.65 7.75 3,779,587 PREFERRED HOUSE PREF A 96.95 97 96.9 96.95 1,458,671.50 AC PREF B1 490 490 488 490 1,379,800 AC PREF B2 483.2 490 483 490 294,732 ALCO PREF B 100 100 100 100 20,000 DD PREF 99.05 99.05 99 99 5,950,400 SMC FB PREF 2 990 1,000 990 990 6,255,150 FGEN PREF G 104.1 104.1 104 104 582,470 GLO PREF P 499 499 499 499 209,580 GTCAP PREF A 950 985 950 985 900,950 GTCAP PREF B 945 945 945 945 103,950 LR PREF 1 1 1 1 15,000 PNX PREF 3B 106 106 106 106 474,880 PCOR PREF 3A 1,011 1,011 1,010 1,011 4,094,500 PCOR PREF 3B 1,011 1,012 1,011 1,012 374,340 SMC PREF 2B 75.2 75.2 75.15 75.2 324,854 SMC PREF 2C 76.2 76.75 76.1 76.75 2,219,621 SMC PREF 2D 73 73 73 73 73,000 SMC PREF 2E 74.95 74.95 74.95 74.95 1,049,300 SMC PREF 2F 74.85 74.95 74.5 74.5 2,790,125 SMC PREF 2G 73.3 74.5 73.25 74.5 982,395 SMC PREF 2H 73.5 73.8 73.5 73.8 882,600 SMC PREF 2I 74 74 74 74 2,220 PHIL. DEPOSITARY RECEIPTS GMA HLDG PDR 5.37 5.37 5.25 5.37 94,151,040 WARRANTS LR WARRANT 1.84 1.87 1.83 1.84 105,130 SMALL, MEDIUM & EMERGING ITALPINAS 4.96 5.09 4.96 5.05 1,232,627 XURPAS 1.09 1.1 1.08 1.09 2,121,180 EXCHANGE TRADED FUNDS FIRST METRO ETF 122 122.4 122 122.2 851,306
Saturday, 13 July 2019 Daily Tribune BUSINESS B11 Shopee Phl eyes five-fold order value growth SINGAPORE headquartered e-commerce platform Shopee projects an expansion of online transactions in the Philippines at five times the gross value this year than last. (Our) fourth-quarter target is four to five times higher for orders and GMV compared to last year AJ Bajo International e-commerce firm Shopee is eyeing five times more gross merchandise value (GMV) in its Philippine operations by year-end as the country’s retail space expands. Shopee.ph is currently the lead shopping platform with over 19.5 million unique users in the first half of the year and over half a million active sellers. Associate director for Shopee Philippines, Martin Yu, said the e-commerce platform registered transaction values worth $3.5 billion in Asia in the first quarter this year alone, up 81.8 percent from $1.9 billion in the same period last year. The amount is equally spread over its operations in Malaysia, Thailand, Vietnam and the Philippines, with Indonesia and Taiwan as off-shooters owing to its larger population and bigger retail spending. The company is expecting the four to five-fold growth in transactions in the fourth quarter as the period marks the big sale season which typically begins at the onset of the Ber months. “(Our) fourth-quarter target is four to five times higher for orders and GMV compared to last year. The fourth quarter is basically the start of the big sale season in the Philippines,” Yu told reporters at the sidelines of the Shopee ball in Pasay on 11 July. Compared to Taiwan’s online retail orders, which accounts for 10 to 15 percent of total orders, only one or two percent of retail shopping is done online in the Philippines, Yu said. This leaves a “huge potential” in online shopping “when people get used to buying online.” Meanwhile, the company said it is in discussion with the Intellectual Property Office of the Philippines to ensure that it is in compliance with trademark laws. While the company has a counterfeit policy in place, Yu said Shopee still requires the manual work of over 70 people to check if any of the “hundreds of thousands” worth of items uploaded every day are counterfeit. “Despite the automation that we already do, this listings team is one of the biggest teams we have because it’s quite a lot of work. As much as we’d like to (automate everything), it’s very hard to set the rules. Once people know the rules, it’s easy to find ways around automation. As much as we have tried, it’s actually both parts working together now,” he said. Shopee has stopped merchants from selling medicine online after it, along with other online seller Lazada, received summons from the Department of Health over medicines being sold online without the necessary permit. Shopee is headquartered in Singapore under Sea Ltd., which is listed in the New York Stock Exchange under the ticker SE. Sea’s other units include digital entertainment platform Garena and its financial services arm AirPay. 85.5% of budget already spent It is only June but already the Department of Budget and Management (DBM) has released P3.130 trillion, or 85.5 percent of the P3.662 trillion 2019 obligatory spending program. Allotment releases to the line departments reached P1.882 trillion. These include funds allocated for agencies in the Executive branch, Congress, the Judiciary and other constitutional offices. In addition, fund releases from Special Purpose Funds (SPFs) amounted to PhP159.8 billion. Special Purpose Funds (SPFs) are budgetary allocations in the GAA allocated for specific socio-economic purposes such as Budgetary Support to Government Corporations, Allocation to Local Government Units, Contingent Fund, Miscellaneous Personnel Airlines report higher on-time performance Flag carrier Philippine Airlines (PAL) and Cebu Pacific reported significantly improved on-time performance (OTP) over two weeks after signing a pledge of commitment with the Department of Transportation (DoTr) Aviation and Airports Sector. PAL Vice President for Flight Operations Captain Stanley Ng said PAL’s monthly average OTP improved from below 60 percent in April to nearly 80 percent in June that by July averaged even higher to 82 percent. For Cebu Pacific, Michael Ivan Shau CEBPAC Chief Operation Officer said that from 60 percent in June, their OTP improved to 77 percent in July, with peak days reaching 80 percent. OTP rating for airports are measured by the number of departures and arrivals that take place in less than 15 minutes after their scheduled departure and arrival times, including flight cancellations. Both airlines said the improvements came on the heels of the signing of the Pledge of Commitment on 26 June 2019, when top officials of five local airlines vowed to support initiatives on air sector improvements with the Manila International Airport Authority, the Civil Aviation Authority of the Philippines and the Civil Aeronautics Board. Under the commitment, airlines pledged to aid in the decongestion of the Ninoy Aquino International Airport through improved on-time flight performance, support the development of other gateways, including the Sangley Airport in Cavite and improve the travel experience of air passengers. Benefits Fund, National Disaster Risk Reduction and Management Fund, and Pension and Gratuity Fund. The immediate release of funds by the DBM will ensure that national government agencies are able to swiftly implement their programs and projects, such as the construction of new roads, schools, and hospitals, and the protection and promotion of the welfare of the poor and marginalized sectors, among others. Automatic Appropriations Allotment releases for automatic appropriations reached PhP1.055 trillion, or 98.4 percent of the FY 2019 program for automatic appropriations. The release includes 100 percent of the 2019 program for the retirement and life insurance The Department of Energy (DoE), through its Renewable Energy Management Bureau (REMB) on Thursday conducted the third leg of public consultations on the draft department circular (DC) that would guide end-users, RE suppliers and network service providers in facilitating the option taken to choose RE resources to supply their energy needs. Energy Secretary Alfonso G. Cusi said, “The DoE is committed to establish an energy-secure future and bolstering our country’s RE resources is one avenue to achieve this. I am confident that the GEOP will give rise to a reliable market for RE generation and enhance competition among RE and other power suppliers.” The draft circular providing the “Guidelines Governing the Issuance of Operating Permits to Renewable Energy Suppliers under the Green Energy Option Program (GEOP)”, serves as a follow through to the implementation of DoE Circular No. 2018-07-0019 entitled “Promulgating the Rules and Guidelines Governing the Establishment of the Green Energy Option Program Pursuant to the Renewable Energy Act of 2008”. The public consultation focused on the guidelines and procedures in the issuance, administration and revocation of Operating Permits to RE suppliers. program, internal revenue allotment, pension of ex-president/ ex-president widows, net lending and interest payments. Automatic appropriations refer to appropriations programmed annually or for some other period prescribed by law. The DBM has also released P8.4 billion as of end-June from the continuing appropriations of the 2018 GAA, comprising releases for line departments and releases from SPFs. Continuing appropriations refer to appropriations available to support obligations for a specified purpose or project, such as multi-year construction projects which require the incurrence of obligations beyond one fiscal year. Moreover, unprogrammed appropriations in the amount of P24.1 billion have been REMB Director Mylene Capongcol and the recently appointed Chairperson of the National Renewable Energy Board Monalisa Dimalanta headed the discussions which covered released for the foreign-assisted projects of the Department of Transportation, and for the payment of pension adjustments of the Military and Uniformed Personnel (MUP) under the Armed Forces of the Philippines — General Headquarters (AFP-GHQ), Philippine National Police (PNP), Bureau of Fire Protection (BFP), and Bureau of Jail Management and Penology (BJMP). Unprogrammed appropriations are standby appropriations which authorize additional agency expenditures for priority programs and projects when revenue collections exceed the resource targets or when additional grants or foreign funds are generated. Allotments for other automatic appropriations, amounting to P1.2 billion, have also been released. POWER TO CHOOSE GREEN: Participants are all smiles during the photo-op on the Public Consultation on draft Department Circular, “Guidelines Governing the Issuance of Operating Permits to RE Suppliers under Green Energy Option Program,” held yesterday (11 July) at Batangas City. The event aims to discuss the process and requirements for the application and issuance of various RE permits. DoE green energy consultation I am confident that the GEOP will give rise to a reliable market for RE generation and enhance competition among RE and other power suppliers relevant sections such as RE supplier qualifications, application requirements, processing and approval procedures, and the revocation or cancellation of operating permits. On the other hand, Andresito Ulgado, Division Chief of the Hydro and Ocean Energy Management Division presented the GEOP Supply Agreement, which will guide parties interested to avail the GEOP. GRADUATE school students at the Ateneo de Manila have been challenged to identify promising areas for foreign direct investment. Such should not only be lucrative but sustainable over the next 10 years. OBG launches inaugural investment challenge Oxford Business Group (OBG) has made its extensive range of research tools available to students at Ateneo Graduate School of Business (AGSB) who are taking part in a five-week Investment Challenge. The challenge was organized by OBG and AGSB with the aim of encouraging students to identify promising opportunities for foreign direct investment. Participants were set the task of providing a detailed answer to a question about investing in emerging economies on 8 July and must submit their answers by 9 August. A range of prizes is being offered to winners which includes: a complimentary subscription to OBG’s resources; a tuition rebate; free parking at the university; and priority enrolment. To complete the challenge, students are required to answer the question: “Assuming you possessed the required resources, of all the markets covered by OBG reports, in which country and sector do you identify the most promising opportunity for FDI to generate sustainable and lucrative ROI over the next 10 years?” Under the rules, participants can focus on any industry or sector of the economy but must choose a market other than the Philippines to analyze. Details of the challenge and OBG’s resources were relayed to students at a launch event on 8 July, during which Patrick Cooke, OBG’s Regional Editor for Asia, delivered a talk on ‘unleashing entrepreneurship in the emerging world.’ Commenting after the launch event, Cooke said the Investment Challenge was a creative and timely way of encouraging students to explore the diverse range of openings in emerging markets beyond the Philippines. “The current global investment landscape requires business leaders to adopt an outward-looking approach when seeking untapped opportunities, while efforts to strengthen regional economic integration and trade linkages are gaining momentum,” he said. “Many of the students that have signed up for this initiative today will number among the entrepreneurs and executives of tomorrow. I’m delighted that we have been able to support them in this challenge by giving them access to our extensive range of research tools and we wish them luck, both in the coming weeks and beyond.” The winners of the Investment Challenge will be announced on 17 August.
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