by Penny Angeles-Tan | Mar 17, 2018 | Business
The Philippines’ inflation rate has risen to 4% year on year in February, a three-year high, from an average of 2.9% in 2017 (using the new 2012 Consumer Price Index base year). While bond yields have risen in 2017, policy rates have yet to increase.
This was among the topics discussed in the recent Citigold 2018 Annual Market Outlook Briefing, “Navigating A Maturing Bull Market” attended by more than 600 Citi customers in the cities of Taguig, Mandaluyong and Cebu.
Also on the agenda was the United States economy. The briefing heard that the United States is showing early signs of inflation that may have implications for both Asia and Europe. However, the good news from the speakers was that they expect no serious financial consequences and remained bullish on Philippine and select global financial markets as these continue to present potential investment opportunities.
Ramon Melchor Tejero, Investment Product Head of Citicorp Financial Services and Insurance Brokerage Philippines Inc., said, “We believe that the recent decline in markets was caused by the sudden change in sentiment among investors related to inflation and rising interest rates.”
Aftab Ahmed, Citi Philippines Chief Executive Officer said, “This is Citi’s 116th year of serving the Philippines and we owe our continued leadership in the country’s banking sector, to the loyal support of our valued clients. Our wealth managers are committed to guiding our clients make sound investment decisions.”
“We are also enhancing our digital capabilities to make our services more accessible to everyone who banks with us. Our priority remains to be the best through the eyes of our clients. Our goal remains one of delivering a strong value proposition.”
Manoj Varma, Citibank Consumer Business Manager, shared Ahmed’s optimism “because of the opportunities and growth I see in the Philippines.” Varma said, “The Philippines remains as one of the fastest growing economies in the world. The demographics are supportive of growth. The population is young, productive, and growing. The financial industry still sees a lot of opportunities.”
The Philippine economy remains robust with a gross domestic product (GDP) growth of 6.7% in 2017. GDP growth is expected to accelerate to 6.9% this year because of the government’s infrastructure spending and higher private sector consumption both supported by the recent tax reform law. Business Process Outsourcing (BPO) revenues and Overseas Filipino Workers (OFWs) remittances are both expected to continue to grow steadily especially with the recent strengthening of the U.S. Dollar.
With the latest market forecasts, Tejero suggested that, overall, the current environment calls for staying diversified, riding the structural trends like Asian growth and the technology sector, positioning for higher interest rates, and coping with an eventual weaker U.S. Dollar.
Varma said Citigold is constantly innovating to serve clients better. “Citigold has and will continue to invest in digital and mobile capabilities that will allow our clients to manage all their investments in one place,” he said. “Citi has also partnered with the Wharton Business School to help train our people and make them even better in relationship management. The recent market leading product launches will continue and this is something that we are passionately pursuing for our clients.”
You can start your Citigold relationship today and get up to two roundtrip tickets to Japan plus up to PHP77,000 in cash credits. Visit www.citibank.com.ph for more details.
by Penny Angeles-Tan | Mar 9, 2018 | Business
AXA Philippines, through its service provider AXA Partners, strengthens partnership with Chong Hua Hospital Mandaue as one of its world-class medical service providers for AXA Global Health Access (GHA).
The GHA provides clients with up to P150 million extensive annual medical coverage for in-patient and out-patient treatments in the Philippines and any other country in the world, depending on plan variant. Other benefits include 24/7 health advice and support through a telephone health information service staffed by professional healthcare practitioners; and global concierge services, such as flight and travel arrangements for scheduled treatments, including transfers to and from the hospital.
Chong Hua Hospital Mandaue is a general hospital with a wide array of services. It is the only hospital in the Visayas and Mindanao area with the most comprehensive Cancer Center service, from screening and detection to treatment. It will soon have the Positron Emission Technology/ Computed Tomography Scan (PET / CT Scan), the first in the Visayas and Mindanao area.
AXA Philippines recently visited the Chong Hua Hospital Mandaue to formalize the partnership, attended by AXA Partners Philippines liason officer Jerson Billones; CFO Gerardo Almerido; CEO Ronald Carillo; network officer Karen Santos; AXA Philippines protection & health Director Grace Mallabo; with Chong Hua Hospital Mandaue VP medical ancillary 1 Dr. Eric Lasala; hospital administrator Atty. Dean Decal; and Dorothy Ann Ruedes.
by Penny Angeles-Tan | Mar 8, 2018 | Business
Homegrown Phoenix Petroleum unveiled its leveled-up fuels powered by Phoenix PULSE Technology on February 14, 2018. The leading independent oil company also introduced its newest endorser, car-racer and actress, Rhian Ramos, at the event.
Phoenix PULSE Technology is made from cutting-edge fuel technology by world-class fuel experts exclusively for Phoenix Petroleum. It’s a fuel additive with advanced cleaning and protection properties for enhanced power and acceleration, making trips come alive.
The upgraded fuel products promise three main benefits: Avoids fuel filter blockage in diesel-powered vehicles, removes deposits from fuel injectors, valves, and piston surfaces, and provides engine protection. Phoenix PULSE Technology can help result to better fuel economy when used continuously.
“As a homegrown brand, we aim to be the Filipinos’ top choice not only for their fuel needs, but also for fueling their dreams and aspirations. We work hard and continue to grow our business not only so we can bring our vision of being an indispensable partner to life, but also because as the next generation company, we want to provide this generation with the best products and services at the best value,” said Phoenix Petroleum President and CEO Dennis Uy.
Actress and car racer Rhian Ramos joins the Phoenix Petroleum family as the face of Phoenix PULSE Technology.
For Rhian Ramos, she says she made the right choice with Phoenix Petroleum, a brand she’s sure her fellow millennials would love because, just like her, they want to get more value for their every peso.
“When I hit the tracks, I make sure that my drive is smooth, high-powered, and worry-free, which is why I choose to gas up at Phoenix Petroleum. Especially now that their fuels are powered with Phoenix PULSE Technology, I feel more confident every time I get behind the wheel, because it enhances my car’s power and acceleration,” she said.
Phoenix PULSE Technology is available at all Phoenix stations and in all fuel grades. These next generation fuels are suitable for Filipino drivers who are looking for a smooth and exciting ride.
To experience Phoenix PULSE Technology, drive to the nearest Phoenix Petroleum station now.
by Penny Angeles-Tan | Mar 7, 2018 | Business
Gan Advanced Osseointegration Center (GAOC), the leading dental clinic in the Philippines and one of the best in Southeast Asia, make quality dentistry accessible to patients from different parts of the Metro with the opening of two new clinics at SM Megamall and Ayala Vertis North.
With the opening at prime locations, patients can now experience superior dental services offered by a team of highly skilled and experienced dental practitioners who have completed their training in top-notch hospitals, universities, and global institutions in the US, Europe, and Asia.
The operating room at GAOC Ayala Vertis North
The treatment room at GAOC SM Megamall
The SM Megamall clinic will be one of GAOC’s cosmetic centers, which will focus on prosthodontic and cosmetic procedures such as crowns, bridges, dentures, and veneers.
It will have a Consultation Room, an X-Ray Room, a Sterilization Room, 4 Treatment Rooms and its very own dental laboratory for greater efficiencies and speedier processing of laboratory results. Meanwhile, patients from Quezon City and neighboring areas do not need to travel to Makati for surgical procedures as the Ayala
Vertis North branch will have its own operating room, which features operating lights with a camera that records 40k videos.
Founded by Dr. Steve Mark Gan, GAOC takes pride in its unparalleled excellence in oral care including oral diagnostics, surgical procedures, dental implantology, and jaw reconstruction.
His acumen for world-class dental treatments and top-notch customer service has led him to become the choice of celebrities, politicians, diplomats, and socialites.
Visit GAOC SM Megamall at Level 5 Mega Fashion Hall, SM Megamall, Mandaluyong City or contact (02) 725-4262, 0917-158-4262, or email me******@********al.com.
For GAOC Ayala Vertis North at Level 3, Ayala Vertis North, Quezon Avenue, Diliman, Quezon City or contact (02) 292-4262, (02) 368-1838, 0917-157-4262, or email ve****@********al.com.
For more details and information, like and follow GAOC on Facebook, Instagram, and Twitter, @gaocdental or visit www.gaocdental.com.
by Penny Angeles-Tan | Feb 28, 2018 | Business
Asian Institute of Management
KPMG R.G. Manabat & Co. (KPMG RGM & Co.), the Philippine member firm of KPMG International, recently held Let’s Talk Tech – a series of IT discussions on Artificial Intelligence (AI) and Robotics Process Automation (RPA), Data & Analytics (D&A), Blockchain and Tax Intelligence Solution (TIS), at the Asian Institute of Management in Makati City.
It also launched its 2018 annual investment guide entitled IT Report: Philippines which highlights the dynamism of the IT-BPM industry which has proven to be among the country’s economic game changers for the past 20 years or so and will continue to provide support for strong growth in the years to come.
Present during the event were: (from left) KPMG RGM & Co. vice chairman and chief operating officer Emmanuel P. Bonoan, KPMG Australia’s Michael Rochanakij, KPMG RGM & Co. chairman and chief executive officer Sharon G. Dayoan, IT veteran Joel H. Garcia, KPMG RGM & Co. tax partner Leandro Ben M. Robediso, advisory partners Jallain S. Manrique and Michael H. Guarin.
by Penny Angeles-Tan | Feb 27, 2018 | Business
The Philippines’ first public-private sector initiative for startups, QBO Innovation Hub (QBO), will launch its own app where startups can connect with top-notch mentors and consultants who can help them grow their business on March 1 at the City Garden Grand Hotel in Makati.
QBO (‘ku-bo’) was formed through a partnership between Ideaspace Foundation Inc., J.P. Morgan, the Department of Science and Technology (DOST), and the Department of Trade and Industry (DTI).
It is a platform for the startup community to collaborate, develop talent, and grow. Spurred on by the vision of Filipino startups changing the world, QBO’s mission is to create a globally competitive startup ecosystem in the Philippines. The QBO App is an extension of QBO’s on-ground efforts.
Katrina Chan, Director, QBO Innovation Hub
“In this fast-paced, always-on world, we saw the need for startups to get easy access to our services and resources. This is why we created the app,” said Katrina Chan, Director, QBO Innovation Hub.
The QBO App is downloadable on iOS and Android devices (search for ‘QBO Innovation Hub’).
It is a digital space where startups and entrepreneurs can come together to connect and collaborate with other players in the startup ecosystem and contribute their own knowledge with the community.
Access to top-notch mentors
QBO recently launched its impressive mentor roster, consisting of successful startup founders, experienced venture capitalists, and veteran company leaders, among others. They were selected to provide mentorship to startups that qualify for the INQBATION program, which was created in partnership with J.P. Morgan.
The INQBATION program was designed to support highly promising yet underserved Philippine startup companies. Once selected for the program, startups gain access to a customized development program that provides targeted interventions to help them achieve their unique goals, overcome barriers to growth, and scale.
Rene “Butch” Meily, President, QBO Innovation Hub
“A significant number of startups fail, and the reasons vary. Among the most common include lack of focus and lack of motivation or commitment. However, there is one factor that proves to be even more dangerous to the success of a startup: the lack of mentorship,” said Rene “Butch” Meily, President, QBO Innovation Hub.
“We didn’t want to waste the great potential we see in a lot of local startups. And we believe that our mentors can help them move forward and grow,” Chan said.
Here are the seven mentors, and why they’re perfect for Philippine startups:
- Chito Bustamante, CEO, Chikka Asia, Inc. The Silicon Valley engineer has enabled Chikka to grow and develop into what it is today. During his term, Chikka was awarded triple ISO certifications and a rare CMMI maturity level 5, which is the highest in the industry. Aside from being a CEO, Bustamante is actively taking on mentorship roles to help young startup founders succeed.
- Ambar Machfoedy, Managing Partner, Rekanext Venture Capital Partners.
In his current role, Machfoedy manages a Singapore-based Venture Capital firm that is focused on a portfolio of technology ventures that target Southeast Asian markets. Machfoedy is also well versed in analyzing and assessing deals, conducting due diligence, and executing exit strategies via IPOs/M&As, all of which are important for any startup founder.
- Joey Vilar, Head of Marketing Services & OIC of Market Education, Philippine Stock Exchange (PSE). Running a successful startup requires a good understanding of financial matters. Recruiting a mentor who has a strong background in finance spells the difference between a successful startup and a floundering one. Vilar, who has been at the helm of the PSE’s marketing services and market education for 10 years, is the perfect match for any startup that wants access to financial knowledge.
- Jojy Azurin, Founder and CEO of Horsepower.ph. Azurin has co-founded a number of startups as well as IT companies. He has pioneered tech companies in the fields of BPO, IT outsourcing, online content publishing, and eCommerce. He is also co-director at Manila Chapter of Founder Institute, the world’s largest startup incubator. A seasoned leader and entrepreneur like him can definitely help any startup founder navigate the choppy startup waters.
- Francis Simisim, CEO of Social Light, Inc. Simisim’s experience as an entrepreneur through various startups such as WhenInManila, Blogapalooza, and Social Light, Inc. is valuable to any fledgling startup. His current position as partner at a Philippine-based VC firm, Original Pitch Venture Capital, can give startup founders invaluable insight when it comes to pitching to potential investors and coming up with out-of-the-box creative solutions.
- Noel Lorenzana, a Venture Capitalist with years of experience in key leadership positions. Insight from someone who has successful experience in various posts as CEO, COO, President, and Managing Director and served in various roles across functions in General Management, Marketing, Sales, Operations, and Innovation Management is gold for anyone who is just starting out. Lorenzana has weathered many challenges as an executive, making him the perfect mentor for newbie founders.
- Joseph Lacson, Chief Investment Officer at Metro Pacific Investments Corporation Lacson has accrued various leadership experiences spanning a wide range of departments in his 20 years of professional experience. Currently, he is the CIO of Metro Pacific Investments. He has also been at the helm of many sales and marketing departments, as well as strategy and business development. Insights from someone who has experience in moving and growing various companies can prove helpful to anyone just starting out.
Starting March 1, QBO startups will have unfettered access to these mentors and more through the QBO App.
For more information about QBO’s INQBATION program, please visit www.qbo.com.ph.
Aftab Ahmed, Citi Philippines Chief Executive Officer said, “This is Citi’s 116th year of serving the Philippines and we owe our continued leadership in the country’s banking sector, to the loyal support of our valued clients. Our wealth managers are committed to guiding our clients make sound investment decisions.” 
Manoj Varma, Citibank Consumer Business Manager, shared Ahmed’s optimism “because of the opportunities and growth I see in the Philippines.” Varma said, “The Philippines remains as one of the fastest growing economies in the world. The demographics are supportive of growth. The population is young, productive, and growing. The financial industry still sees a lot of opportunities.”
QBO (‘ku-bo’) was formed through a partnership between Ideaspace Foundation Inc., J.P. Morgan, the Department of Science and Technology (DOST), and the Department of Trade and Industry (DTI).
The QBO App is downloadable on iOS and Android devices (search for ‘QBO Innovation Hub’).
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