by Ferry Bayu | Aug 10, 2023 | Business
US-ASEAN Business Council Commits More Investments In PH
The United States (US) – Association of Southeast Asian Nations (ASEAN) Business Council, the largest American business contingent, pledged to pursue more investments in the Philippines.
The commitment was made when the members of the US-ASEAN Business Council paid a courtesy call to President Ferdinand R. Marcos Jr. at the President’s Hall of Malacañan Palace in Manila on Wednesday.
During the meeting, US-ASEAN Business Council president and chief executive officer Ted Osius said the members of the non-profit organization are looking forward to deepening their engagements with the Marcos administration and creating more partnerships with the Philippine businesses.
“We’re very much focused and you highlight these themes on sustainable development, transformative digitalization, innovative healthcare solutions, supply chain resilience, and ease of doing business,” Osius told Marcos.
“We are determined that we come here not just to talk but also to bring a lot of action to create real partnerships and to show our commitment in the form of investments,” he added.
Osius, a retired US ambassador, was joined by representatives of 30 companies, the largest delegation to visit the Philippines in the 40-year history of US-ASEAN Business Council.
He said the number of the delegation visiting the Philippines signifies the organization members’ interest in the country’s strong growth and stable macroeconomic fundamentals; the young and competent Filipino workforce; and the Marcos administration’s receptiveness to foreign investments and sustainable approach to sustain economic development.
Citing Marcos’ commitment to put a premium on industries such as infrastructure, agriculture, clean energy, green metals and semiconductors, Osius said American companies have expressed readiness to back the Philippine development efforts.
Marcos acknowledged the council’s crucial role in the Philippine development and hoped that alliances, partnerships, and arrangements with its members would be sustained.
He said the meeting with the US-ASEAN Business Council is significant in discussing concrete steps in upholding socioeconomic cooperation, including the sectors of agriculture, clean energy, infrastructure, climate change, digital connectivity and post pandemic recovery.
“I recognize the critical role that the United States and American businesses have played in advancing a robust and inclusive economic growth in the Philippines, not only in this period but for a very long time now,” Marcos said.
Marcos also assured the council of concrete steps that he and US President Joe Biden have identified to make the two countries’ alliance and partnership “relevant and responsive to the current emerging challenges in the defense, security and economic spheres.”
“I invite the members of the esteemed Council to continue being valuable partners of the Philippines. Let us push for greater economic engagement between our two countries, for our mutual benefit, for the prosperity, especially of the region,” he said.
Osius also stressed the importance of the country’s participation in the Indo-Pacific Economic Framework, as well as in the Asia-Pacific Economic Cooperation (APEC).
“The view in Washington is that the Philippines has been an incredible partner in this process, especially the supply chain. [The] Indo-Pacific Economic Framework and the US is looking for continued Philippine leadership on Pillar 3 which is focused on clean energy, decarbonization, and infrastructure, and Pillar 4, tax and any corruption,” Osius said, adding US companies welcome a transparent predictable business environment in the context of Pillar 4.
The US-ASEAN Business Council is a non-profit organization established in 1984 that conducts research and analysis in the ASEAN member states in terms of economic, financial, political, social and environmental conditions.
Worldwide, the council’s membership of over 175 companies generates almost USD7 trillion in revenue and employs more than 14.5 million people.
The council is the only American organization formally recognized in the ASEAN Charter and meets annually with the Finance, Trade, and Energy Ministers at their annual meetings.
To date, its members include the largest US companies conducting business in ASEAN and range from newcomers to the region to firms that have been working in Southeast Asia for more than 100 years. (PNA)
by Ferry Bayu | Aug 10, 2023 | Business
For its 6th annual Impact Day themed “Building a Better Future”, Universal McCann (UM) employees in Malaysia come together to support the Super Sarapan project (Super Breakfast), an ongoing project done in partnership with Yayasan Generasi Gemilang and aimed at feeding children from low-income households whose family’s combined monthly income is less than RM2,500. The carnival that ran in the office was a funfair environment with food and games, and it raised RM22,500 in total to keep children fed and in school.
MALAYSIA, 10 AUGUST 2023 — Universal McCann (UM), the global media agency network of IPG Mediabrands, announced its sixth annual day of service to the community, UM Impact Day, on 20th July. Launched under UM’s corporate social responsibility initiative, Better World, Impact Day exemplifies the agency’s commitment to community and care and its employees’ commitment to driving a better workplace, work product, and world for the communities in which they live and serve.
Themed “Building a Better Future”, UM Impact Day this year saw 80 UM employees in Malaysia come together to support the Super Sarapan project (Super Breakfast), an ongoing project done in partnership
with Yayasan Generasi Gemilang and aimed at feeding children from low-income households whose family’s combined monthly income is less than RM2,500.
Audrey Chong, Chief Executive Officer of UM commented, “Our aim this year, was to raise funds for this exceptional programme that looks to close the education gap for underserved children by improving literacy and nutrition. Super Sarapan helps address the issue of hunger and motivates children to stay in schools by giving them a daily meal for each day they go to school. In this way, it encourages them to continue their education, thus opening the door for them to create a better future and elevate their livelihood.”
This Impact Day saw UM Malaysia inviting clients, partners, friends and family for a carnival in the office, where UM staff contributed time, energy and resources to create a fun-fair like day of food & beverages, games and activities. UM clients including Tyson Foods, F&N Malaysia, Munchy’s and Mattel also supported the carnival by way of prizes and items to be sold on the day. The carnival sales proceeds totaled RM22,500, donated to Yayasan Generasi Gemilang for the Super Sarapan project.
Melissa Ngiam, Chief Executive Officer of Yayasan Generasi Gemilang said, “At Yayasan Generasi Gemilang, we get to see first-hand how providing a meal every single school day makes a huge difference in improving food insecurity for underserved students in Malaysia. Super Sarapan exists to address the very real issue of student hunger. It is so meaningful to see the team at Universal McCann showing their genuine support for this programme. Thank you so much! The funds raised will allow us to collaborate with more schools to ensure more students are fed.”
Audrey adds, “This year’s cause was extremely meaningful to us as we looked towards helping drive change in our community and contributing towards the United Nations’ Sustainable Development Goals (SDG), in particular, SDG 1 – no poverty; SDG 2 – zero hunger and SDG 4 –quality education. We are thankful for the collaboration of our numerous clients and partners who have been extremely generous with their support. And not to forget, a big thanks to our UM team, who drove this year’s impact day with heart and boundless energy to make the day a success.”
Learn more about Yayasan Generasi Gemilang here.
For more news on UM Malaysia, follow the Friends of UM page.
UM is a global media agency committed to Futureproofing our clients’ businesses for the now and the next. We leverage the transformational power of rich business analytics and real-time intelligence to maximize growth and activate the full consumer journey across content and connections. Our consultative approach and agile model, rooted in diversity, equity and belonging, drive better business outcomes for brands. As the leading global media network in IPG Mediabrands, UM operates in over 100 countries, with more than 3,000 people innovating on a roster of global clients including Accenture, American Express, GoPro, Johnson & Johnson, Levi Strauss & Co, Mattel, Sony and Spotify. For more information, please visit https://www.umww.com.
Gavina Rajendran
Director of Marketing & Communications, Mediabrands Malaysia
Ga**************@**ww.com
+603 7966 6118
by Ferry Bayu | Aug 9, 2023 | Business
Recircle Revolutionizes Recycling in Malaysia with Exciting Reward Program
Recircle, one of the most-used online recycling platforms in Malaysia, is taking recycling to the next level with its innovative approach to making recycling a rewarding experience. The company is thrilled to announce the expansion of its reward list, offering users a unique opportunity to be a part of the recycling revolution while reaping exciting benefits.
Recycling has never been this rewarding. With its newly enhanced reward list, Recircle is setting a new benchmark in the recycling industry by providing users with exclusive access to a wide range of offers, vouchers, and discounts from various partners. The company’s vision is to motivate more individuals to participate in recycling efforts while simultaneously enjoying tangible rewards.
The heart of the new program is the expanded reward list that offers users exclusive access to a range of offers, discounts, and vouchers from a variety of partners. The program’s inaugural partners include Apple services, a testament to Recircle’s commitment to offering premium benefits to its users right from the start.
By collaborating with local and national brands, Recircle aims to create a win-win situation. Users not only contribute to a cleaner environment but also gain access to exclusive offers and discounts. As Recircle expands its partner network, the platform is taking the opportunity to invite more brands to join the program, showcasing their concern and support for sustainability alongside Recircle.
Recircle’s approach is holistic, focusing not only on environmental consciousness but also on users’ overall well-being. In partnership with Swim Life Academy, the program offers free trial swimming lessons for Recircle users, promoting self-enrichment and health among Malaysians.
By encouraging recycling through rewarding incentives, the company hopes to inspire a greater number of people to actively participate in the recycling movement.
The expanded reward list was geared up starting in August 2023. This strategic move is poised to revolutionize the way Malaysians approach recycling, turning it into a habit that not only benefits the planet but also enhances their lives.
Established in 2018, we create an online recycling concept for the market. Our innovative mobile application aims to revolutionize the recycling industry in Malaysia by using technology to make recycling more accessible and convenient.
For more information, visit www.recircle.com.my
Google Play: https://bit.ly/2v0XB0S
App Store: https://apple.co/2EzrQvq
Lee Hillton
017-296 1012
le*****************@***il.com
by Ferry Bayu | Aug 9, 2023 | Business
Philippines’ DoubleDragon considers Nasdaq SPAC listing for hotel arm
Philippine real estate company DoubleDragon Corp said on Tuesday it is considering listing its Singapore-registered unit Hotel101 Global on the U.S. Nasdaq via a merger with a special purpose acquisition company, or SPAC.
DoubleDragon confirmed in response to a local media report that it was weighing the SPAC route as one option to accelerate the international expansion of hotel group Hotel101.
“We likewise clarify, that the amount of equity to be raised will still be finalised at a future date, although it is notable that generally, most SPACs invest about $200 million for mergers and acquisitions,” the company said in a stock exchange filing.
DoubleDragon said it targets for Hotel101 to reach a valuation of up to $17 billion in the near term based on the hotel operator’s internal financial projections, but gave no more details.
Hotel101 provides mid-class hotel accommodation for leisure and business travellers in the Philippines, according to its website. DoubleDragon said Hotel101 will expand to 25 countries including the United States and China by 2026.
SPACs are seen as a quick route to a stock market listing but the once frenzied SPAC market has cooled as it came under closer scrutiny from the U.S. Securities and Exchange Commission amid concerns over what some saw as less stringent due diligence practices.
DoubleDragon’s plan follows that of Vietnamese electric vehicle company VinFast, which plans to list in the United States this month via a merger with a SPAC called Black Spade Acquisition.
The new merged entity was estimated by VinFast and Black Spade to have a potential equity value of $23 billion.
“We also take note from recent news articles that Vietnam is expected to produce their first NASDAQ SPAC company this year with VinFast EV company, and it is the aspiration of DoubleDragon’s Hotel101 to become the first of the same from the Philippines,” DoubleDragon said.
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