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PMI releases first Integrated Report on performance and headways in its smoke-free future vision

July 6, 2020

Philip Morris International Inc. (PMI) has published its first Integrated Report, a comprehensive overview of the company’s environmental, social, and governance (ESG) performance and its progress toward delivering a smoke-free future—including the company’s ambition to switch more than 40 million adult smokers to its smoke-free products by 2025.  PMI said its Integrated Report 2019 demonstrates the role of the organization's strategy, governance, and performance in the creation of value over the short, medium, and long terms. The report further shows PMI’s approach and important progress in various ESG areas, while setting new and ambitious targets for 2025 that complement the company’s prior aspirations.  “Clarity of purpose is essential for the internal alignment of any company. Since we announced our smoke-free commitment in 2016, we have made enormous progress in terms of organizational capabilities, the integration of sustainability into every aspect of our transformation, and our business,” said André Calantzopoulos, PMI Chief Executive Officer. “PMI’s Statement of Purpose reaffirms our commitment to deliver a smoke-free future for the benefit of people who would otherwise continue to smoke and, hence, to global public health. It is clear to all of us at PMI that the biggest positive impact our company can have on society is to replace cigarettes with less harmful alternatives; this is at the very core of our corporate strategy and sits atop our sustainability priorities while we are progressing well on all others,” Calantzopoulos added.  The report cited PMI’s Philippine affiliate, PMFTC Inc., for its strong commitment to the development and growth of local communities. In particular, the company’s corporate social responsibility program Embrace, which involves charitable giving, social contributions and community investments that focused on access to education, women empowerment, economic opportunity, and most especially disaster preparedness and relief efforts. “As a leader in the tobacco industry and a top taxpayer in the Philippines, PMFTC has a responsible role to play in spurring economic development, empowering communities and sustaining our environment,” PMFTC President Denis Gorkun said. “We are proud of our company’s caring and giving culture. We are equally proud of our employees who champion the values of social responsibility as can be most recently seen in our societal response to the COVID-19 pandemic,” Gorkun added. In the report, PMFTC was cited as being in the forefront in providing relief assistance during disasters like earthquakes, volcanic eruptions, typhoons and floods. More than 25,000 individuals received help in the past earthquake incidences in Batanes and Mindanao; and another 7,384 families benefited from relief items during the Taal volcano eruption in January this year. In these community efforts, “PMFTC employees were at the core of relief operations.” mentioning the company employees “spirit of volunteerism and compassion for the community.”   On top of helping communities, PMFTC has placed the safety and protection of its own employees a priority. Some 150 displaced employees were provided immediate assistance in the recent Taal volcano eruption. The Integrated Report 2019 also demonstrates how PMI is focusing its resources on developing, scientifically substantiating, and responsibly commercializing smoke-free products that are a better choice than continued smoking, with the aim of completely replacing cigarettes as soon as possible. The company believes that, with the right regulatory encouragement and support from civil society, cigarette sales can end within 10 to 15 years in many countries.  It also highlights the company’s most material sustainability topics, including the health impacts of the company’s products, an aspect often not captured by external ESG assessments.  The report focuses on this key area, and describes how the company is working to reduce the harm caused by tobacco use by replacing combustible products with scientifically substantiated reduced-risk alternatives.  From the previous sustainability reporting, PMI’s evolution to integrated reporting helps investors make the connection between the product-focused sustainability initiatives, which form the core of the ESG strategy, and the financial performance over time. The report also enables the company’s stakeholders to better evaluate the company’s progress in achieving its purpose. PMI’s Statement of Purpose, adopted by the company’s Board of Directors earlier this year and published in its 2020 proxy statement, is also available in the Integrated Report.

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Nicole Cabanlet Designs - interiors that reflect your style

June 2, 2020

Interview by MARK FRANCISCO Lifestyle Editor   1) Coming from a family of entrepreneurs, what inspired you to take up Interior Design?   Looking back, I remember falling in love with interior design at a young age. And just like how every passion starts, influence, mine was my mother, Lolita B. Cabanlet. I fondly remember her introducing it to me indirectly. I would watch HGTV and home improvement shows with her as our bonding. I recall being fascinated by the said shows. I would be amazed by the creativity that the team would exhibit as evidenced by the design solutions they would provide in their projects. This fascination progressed, when in the year 1998, I became my mother’s protégé. Her wisdom in product design became one of my solid foundations in my passion for my profession. Together we designed stationery and packaging items for export across the globe.   Being involved in the family business at a young age gave me the leanings to pursue something related to arts and design. Early on in high school, I was already researching about courses related to designing, and that is when I discovered about interior design. I thought to myself then, Interior design is such a profound course, overarching even, in relation to the concepts that I will be studying. I was then imagining the things that I will be learning, and the thought, I remember got me feeling thrilled and excited. Senior year came and together with this, college admission tests, and unlike other students who were still undecided, it was already a no brainer for me. I already knew what I want, and with this, the school that I needed to get into.    2) When did you establish Nicole Cabanlet Designs? Without delving into the privacy of your client names, can you mention some of your most successful and more prominent projects?   I began working as an independent Interior Designer in the year 2012 but Nicole Cabanlet Designs was established formally on the year 2018. The realization to formally launch my business name came as a need to express the identity of my craft and passion. Nicole Cabanlet Designs is operating for 2 years now, praise God. Together with my team, the recent and prominent projects that we have had includes the following: model units of a prominent uptown subdivision project, an Italian inspired café/resto, a Korean themed café/fast food  and, a fast food and residential unit (both in Bacoor, Cavite) among others.    3) Can you mention here the services and products you offer? How do you maintain the quality of your work? Like do you do home installations of the products that your customers purchase or is it just the products that people purchase and they'll just DIY them back home? In terms of quality, where do your products come from? Imported or homemade? Do you have offer warranty or after-sales technical advice?    NICOLE CABANLET DESIGNS offer Interior Design and Fit-Out Services. This means that our offerings allows us to go through all the important stages or phases in Interior Design and Construction, starting with Preliminary Meetings, Schematic Design Phase, Design Development Phase, Contract Document & Coordination Phase, and Construction Phase.   We maintain the quality of work through collaboration, proper communication and establishment of good working relationship with our Industry Partners, Contractors and of course, our Clients. We also make sure that we only accept projects we can manage per quarter. And with clients being the heart of our every project, we make sure to follow through the Design Brief of the Client, knowing their design preferences, requirements, and their lifestyle.   When we do Interior Design and Fit-Out projects, we plan, design and construct from start to finish. Others would call it a Turn-Key project, where the Client would come in the reveal day seeing everything carefully laid out  and installed into their liking (according to the approved plan and design).   We get our items from all over the country. And as much as possible we consider injecting Filipino aesthetic and sensibility to be relatable and to have a sense of place, there are times we get them overseas. We also embrace up cycling and re-purposing of items that seemed to have lost its original function but has the potential to have a new purpose. Like the drop light that we did for the Italian inspired resto/café at the bar area. It was made from repurposed empty wine bottles that the owner collected over the years.   We encourage Clients to always communicate with us their concerns even when the project has been turned over for a year to carefully assess the situation of the project concerns, and from there, we give necessary advises for the upkeep of the project.     4) Prior to COVID, the realty sector in CDO is booming. How many projects do you do in a year on average? As a practitioner in the industry, which part of CDO do you recommend settling in? Uptown? Eastern part? Western part? Why? Which do you prefer, in a gated subdivision or in a standalone property?   We do an average of 4-12 projects in a year, though ultimately, it will still depend on the magnitude of the project. The figure given can still go higher or lower. Aside from Turn-Key projects, we at Nicole Cabanlet Designs has also ventured into product design. In-fact we product design on an average of 30-40 collections bi-annually, and this is just for the family business alone, CDO Handmade Paper.   There are developments wherever in Cagayan de Oro City. As for my recommendation, meeting a lot of clients made me realize it was never about location, exclusivity, and others, it is more of personal preference and the feeling of safety and comfort the property brings to the owner(s).   5) Do you also do commercial and industrial spaces work too? Can you mention some of your successful projects in commercial space?   We do not limit to Residential projects, we accept commercial and hospitality projects as well. Aside from the projects mentioned earlier, we also have done design/construction work for Cabanlet & Cabanlet Law Office and Villa Salina Beach Resort in General Luna, Siargao Island to add to the list.     6) Do you also have clients outside CDO? Can you mention places e.g. Bukidnon, Butuan etc.   Yes we have had projects outside Cagayan de Oro. These are mostly Residential Projects in Camiguin, Malaybalay Bukidnon, Makati City and Bacoor Cavite.   7) How is COVID becoming a challenge in your business? How is COVID becoming a challenge in the local realty sector in general? How do you respond to these challenges to maintain the business?   No one could have anticipated this COVID19 pandemic and I know that most of us (if not all) are having difficulties adjusting in this trying time. At the start of this pandemic, several projects were at a halt, but now, a few has already resumed. Though very challenging, I believe that we have to embrace the new normal and find efficient ways and innovations to up or maintain the business.   In my observation, I think the realty development is slowly moving forward. Properties are high investment, depending on the type, but most don’t depreciate and investing on  one especially when in its pre-development stage is still best. Nowadays, people are encouraged to work at home, and I think this is something the realty sector can work around with.       All in all, I must say that in our current state, I have observed that there is more togetherness and collaboration amongst colleagues and even with potential clients.    8) I understand that you have other businesses as well. Have you tried incorporating your other products into your designs?   Yes, I do and have, many times over. I use products from many local brands which carries stationery items, home décor, lamps and lighting. I get these items from CDO Handmade Paper, Tinabuan Crafts, and Tagolwanen Women Weavers in Malaybalay Bukidnon to name a few.   If noticed, (as much as possible) we infuse or inject Filipino aesthetic into every project to give a sense of place and relatability, but still it will be ultimately the clients decision. I for one am an advocate for Filipino arts and crafts.   9) Contact address/fb page/number for inquiries. Ah by the way, do you have a showroom for clients to drop by?   Our Office is at CDO Handmade Paper Showroom, Zone 1 Barra Opol, Misamis Occidental    For Product Design,Interior Design and Renovation inquiries you may contact us via our facebook account- https://www.facebook.com/NicoleCabanletDesigns and https://www.facebook.com/idrnicolebcabanlet/ and at these numbers 0916-751-8778.

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Aboitiz bats for more infrastructure spend

May 18, 2020

ABOITIZ InfraCapital has urged for increase in infrastructure spending, whether funded by government or private sector, saying infrastructure will rebuild the battered domestic economy.     Cosette V. Canilao, Aboitiz InfraCapital President and Chief Executive Officer (CEO), said that Public-Private Partnerships (PPPs), in particular, can help fill in gaps brought about by funding reallocations amid the ongoing COVID-19 crisis.     “We understand that the government earmarked funding from other programs, including infrastructure projects, to address the COVID-19 impact. The private sector through PPP, could take up the void that the reallocation from infrastructure projects has created,” Canilao explained.     For Aboitiz InfraCapital’s common tower project, discussions with partners Globe Telecom, Smart Telecom, and Dito Telecommunity on the first batch of towers are still ongoing.     “The current crisis has clearly proven the urgent need for digital infrastructure to support better telecommunication services, and the Aboitiz Group is ready to provide this through our common tower project,” she noted.     On-the-ground activities such as site surveys and site acquisitions are expected to resume once the Luzon and local ECQs are lifted.     Aboitiz InfraCapital also said it is ready to resume discussions with the government for its airport bids (Bohol-Panglao International Airport, Laguindingan Airport, and Ninoy Aquino International Airport [NAIA] as part of the NAIA Consortium), post-ECQ.     “We remain keen on the airport projects as we believe that these are vital in reviving the economy. As with all of the Aboitiz Group’s projects and businesses, we are as¬sessing COVID-19’s impact on our proposals,” Canilao noted.     The government and the private sector need to work more closely together in putting in place programs that would revive the travel and tourism industry, as it is one of the hardest-hit sectors in light of the current COVID-19 crisis.     Aboitiz InfraCapital is also open to discussing with the government its unsolicited proposal along with the Ayala Group and Unisys, for a National Identification Card (ID) system previously submitted to the PSA in 2018. The urgent need for a National ID system became even more ap¬parent under the present conditions to help hasten COVID-19 aid distribution.

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PAL cancels flights till end May

May 18, 2020

IN the wake of the government’s extended lockdown, Philippine Airlines (PAL) the other night announced that all domestic flights to and from its hubs in Manila, Cebu and Clark will remain cancelled up to May 31, 2020.     However, the flag carrier is evaluating the possibility of flying international routes, as well as domestic routes, to and from its Davao hub, in coordination with concerned government authorities.     “We will announce any planned flights once these are finalized,” according to PAL’s statement. The continued pause in the airline’s Manila, Cebu and Clark hub operations is in compliance with the Philippine government’s declaration of the Modified Enhanced Community Quarantine and related local restrictions from May 16 to 31.     “We are in the process of notifying affected passengers by e-mail,” according to PAL.     The current ticket of passengers booked on a cancelled flight remains valid, the flag carrier clarified.     Starting June 1, 2020 onwards, PAL plans to operate reduced number of weekly flights on most domestic routes and on selected international routes.     However, this will still depend on COVID-19 conditions, such as community quarantine restrictions, travel bans imposed by various governments and their impact on passenger demand and the public health and safety situation in each of the countries that PAL serves.     The airline will announce the list of operating flights and routes for June 2020, once the details are finalized.     PAL will continue to operate occasional special flights to repatriate stranded passengers and to transport urgent cargo such as medical equipment and supplies to help sustain critical supply chains across the Philippines and on selected international routes.

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Ayala Corp. income down 17% as lockdown hits businesses

May 18, 2020

EARNINGS of Ayala Corp. (AC) dropped 17% to P6.7 billion in the first quarter as the coronavirus pandemic dragged its property, banking and industrial segments.     In a stock exchange disclosure on Wednesday, the listed conglomerate said its consolidated revenues fell 11% to P61.72 billion in the first three months of the year, reflecting the impact of government lockdowns across its business units.     If it were to isolate the estimated impact of the coronavirus crisis, AC said its net income would have been flat due to the P1 billion divestment gains from merging AC Education and iPeople last year.     The company’s costs and expenses during the period fell 10% to P45.64 billion. Capital expenditures for parent-only businesses stood at P6.9 billion.     By business segment, real estate arm Ayala Land, Inc. posted the largest profit drop of 41% to P4.3 billion. This is attributable to the 38% lower property development revenues at P17.2 billion due to the eruption of Taal volcano in January. Leasing revenues from shopping centers and hotels also fell 9% and 17% to P4.6 billion and P1.6 billion, respectively, because of the enhanced community quarantine (ECQ) in mid-March.     Banking unit Bank of the Philippine Islands booked 5% lower net earnings at P6.4 billion, traceable to its aggressive provisioning during the period. The company posted P4.2 billion in loan-loss provisions as it expected an increase in non-performing loans because of the pandemic.     Profits of telecommunications arm Globe Telecom, Inc. slipped 2% to P6.6 billion due to higher depreciation from network investments and an increase in non-operating charges. Its capital expenditures rose 22% to P10.7 billion to support higher demand for data-related services.     Power segment AC Energy Philippines, Inc. swung to a profit  of P1.96 billion from a net loss of P2 million last year. This was driven by the P1.3-billion pre-operating revenues from its Mindanao-based subsidiary GN Power Kauswagan Ltd. Co., on top of the recovery of costs it incurred from adjustments in the construction and operations of its power plants.     Water unit Manila Water Co., Inc. posted a 4% net income growth to P1.3 billion due to non-recurring events of paying a regulatory penalty and waiving water bills last year. Its revenues rose 9% partly due to higher billed volumes.     Industrial segment led by AC Industrials saw a net loss of P564 million on the back of a global slowdown. Integrated Micro-Electronics, Inc. booked a net loss of P235 million, largely due to the lockdown of its facilities in China in February. AC Motors posted a net loss of P204 million, mostly due to the closure of its Honda Car Philippines facility in Laguna.     “While the outlook for the business environment has fundamentally changed as a result of this crisis, we take comfort in the fact that we have always maintained a strong balance sheet that provides us with flexibility as we navigate the uncertainties,” Ayala President and Chief Operating Officer Fernando Zobel de Ayala said in a statement.     “[W]e have put in place a health protocol to ensure the re-entry of our workforce in a safe and productive way… We believe this is a critical step as our businesses readjust to this new environment,” Ayala Chairman and Chief Executive Officer Jaime Augusto Zobel de Ayala added.

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Suzuki Introduces New Online Auto Loan Feature

May 18, 2020

Suzuki Philippines Inc. (SPH), the pioneer compact car distributor in the country, brings good news to its avid customers and to those looking into purchasing their own automobile with the new Auto Loan feature found on their official website. With this new addition to one of its many available services, getting a new car is now a few clicks away!      SPH just launched a new feature on their website allowing customers to be able to apply for auto loans online. In partnership with banks including Bank of Commerce, Bank of the Philippine Islands, Chinabank Savings, East West Bank, Maybank, PS Bank, RCBC, Robinsons Bank, UCPB, and Yulon Finance, the Auto Loan Feature directs customers to their preferred bank’s website page dedicated for auto loans. Once accomplished by interested patrons, their bank of choice will be able to review and grant them the loans if eligible as they are in operation.      This new online service presented by Suzuki Philippines is an effort to provide ways to serve its customers by being reachable amid the current situation in the country brought upon by the COVID-19 pandemic. The decision to launch the online Auto Loan service with the help of dependable financial institutions is rooted from the realization that during this time of uncertainty, consumers are longing for a sense of security and reliability, more than just the product itself. SPH believes that their vehicles across different segments may provide this longing by staying committed in championing the Suzuki Way of Life! to the Filipino people and relentlessly finding solutions especially when people are now more than ever, highly concerned about where to tunnel their investments that will prove to be beneficiary to them even after these challenging times.

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