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CEB flies over 19M passengers for 2016

April 29, 2019

The Philippines’ leading airline, Cebu Pacific (PSE: CEB), flew 19.1 million passengers in 2016, an increase of 4% from the 18.4 million passengers flown in 2015. On average, CEB flights were 86% full during the year.     Growth in passenger volume was largely driven by the airline’s low-cost short-haul services, and increased frequencies in key domestic markets. Specifically, the former recorded a 9.3% growth compared to 2015, while the latter reflected a 2.6% increase.     “Last December 27, 2016, the Cebu Pacific Air Group carried a total of 64,684 passengers—the highest number of travellers we have ever flown in one day. This surpasses our prior record of 62,947 passengers flown last January 3, 2016, translating to 1,737 additional passengers,” said Atty. JR Mantaring, CEB Vice President for Corporate Affairs.     “This significant increase in number only shows our firm commitment in trafficking trade and tourism in all the destinations we operate in, while at the same time enabling everyJuan to connect with their families and friends all around the world,” added Mantaring.     CEB posted notable passenger growth in international destinations such as Beijing Shanghai and Xiamen in China, Taiwan (Taipei) and Hanoi and Ho Chi Minh in Vietnam. In the Philippines, domestic traffic increased in Cauayan, Siargao and Ozamiz.      CEB currently offers flights to a total of 37 domestic and 29 international destinations, operating an extensive network across Asia, Australia, the Middle East, and USA. Its 58-strong fleet is comprised of four Airbus A319, 36 Airbus A320, seven Airbus A330, eight ATR 72-500, and three ATR 72-600 aircraft. Between 2017 and 2021, CEB expects delivery of one more brand-new Airbus A330, 32 Airbus A321neo, and 13 ATR 72-600 aircraft.     For bookings and inquiries, guests can visit www.cebupacificair.com or call the reservation hotlines (+632)7020-888 or (+6332)230-8888. The latest seat sales can be found on CEB’s official Twitter (@CebuPacificAir) and Facebook pages.     Guests may also download the Cebu Pacific official mobile app on the App Store and Google Play.

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Future Proofing with Innovation to Drive Global Competitiveness

April 27, 2019

The President of one of the country’s leading Mindanao based conglomerates believes nations, organizations and individual should future proof themselves to drive global competitiveness.     “The Philippines is at a crossroads.  We can prepare for the next 10, 20, 50 and 100 years for our children and children’s children by taking steps to be globally competitive or watch the world pass usby and overtake us until we are way behind,” said Ramon B. Segismundo     President and COO of Hijo Group of Companies in his keynote address during the Mindanao Beat HR Summit 2019 held last April 8 at Cagayan de Oro City.     “The answer lies in future proofing ourselves.   Changes are proceeding at warp speed and we need to respond in an agile way.  To future proof, we need to innovate, innovate and innovate.”     “It is by doing innovation at a national, organizational and personal level that can we really drive our country’s competitiveness,” Segismundo stressed. Innovation Nation     At the national level, Segismundo cited Israel, Singapore and Silicone Valley which became “hot spots” of innovation, as showcased in Gary Shapiro’s book “Ninja Innovation”.     “Israel spends over 4 per cent of its gross domestic product on research and development. As a result, Israel has produced five start ups worth more than $1 billiondue to Tel Aviv’s healthy start up ecosystem,” he noted.     “It earns high marks in entrepreneurial activity with 3.11 entrepreneurs for every 1,000 people.  Google acquired Israel-incubated Waze for $966 million.”     Singapore boasts one of the lowest corporate tax rates and a high new business entry rate of over eight per 1,000 people.      56 per cent of its workforce is highly skilled and half of all college students earn degrees in science, technology, engineering and math.  It has produced two unicorns (i.e., a privately held start-up valued at over $1 billion): transportation company Grab and e-commerce start up Lazada.     “I think we have an opportunity to create Metro Cagayan de Oro or Metro Davao as innovation hot spots.There is no standard definition of an innovation country or an innovation hotspot.  The Philippines will chart its own innovation journey and Metro CDO and Metro Davao will have their own paths as well,” Segismundo stressed.     To jump-start this process, Segismundo suggests the following from the US based Consumer Technology Association:     For  technology: invest in broadband, self-driving vehicles, short term rentals, ridesharing and drones.     For society: foster diversity, freedom, environmental awareness, resilience and human capital development.     And for the economy: invest in R & D, ignite entrepreneurial activity, drive Ease of Doing Business and support Filipino unicorns.     These would create a more inclusive society, reduce poverty and create a vibrant and a dynamic entrepreneurial middle class. Innovation Company     At the company level, Segismundo cites intrapreneurship as the key to the successful sustainability of an innovation company.     “You need not go out of your current organizations to be an entrepreneur- in fact, the word intrapreneur was coined.  Within your respective organizations, you can identify innovation projects that will either incrementally improve performance or achievesignificant breakthroughs or quantum leaps in organization performance,” he said.     Per  his personal experience as a corporate executive and employee, he adopted two philosophies to drive innovation in companies: Honor legacy and heritage by respecting the past; and Reinvent the future.     “Be willing to change the business model if you have to.   Be like a start up.  Be like a new entrepreneurial venture,” he stressed.     Citing Eric Ries in his book “Start Up Way”, there are two ways to spark “Start-Up Thinking”: “Think big.  Start small. Scale fast”. This could be done by having “innovation project teams”within your organizations and having current organic teams work on innovation projects in addition to its usual work.     “Thinking like a start up begins with talking to current and future customers.   This is where real customer centricity happens.  Oftentimes, we start with designing a technical product/service or solution.” Done is better than perfect     By looking out for customers’ needs that are now unserved or may be addressed at a superior level, design thinking can come up with a Minimum Viable Product (MVP) that could be an initial version of your product or service.  Then a version 2.0 after talking with customers then a version 3 and so forth with each version upgrade including a new round of inputs from customers. “Done is better than Perfect”.     This  Build-Learn-Measure method of continuous innovation fosters a mindset that is always  ready to learn from mistakes and pivot to another project or persevere.     The bottomline is that entrepreneurship and intrapreneurship is what will fuel innovation in organizations.  If you are an owner/founder of a start up or a corporate executive in a corporation or an officer in the public sector, doing more of the same or keeping the status quo may spell failure. Key Questions     Segismundo suggests some key questions to ask in the pursuit of an innovation company: identifying key personnel responsible for innovation and/or entrepreneurship in the company;communicating with current and future customers; constantly looking at ways to create new ideas tocreate value for current and future customers; looking out to sense developments in their respective your industries and IT applications globally; identifying in-house or outsourced capabilities to develop the next generation product, service or solution; and, allowing for failures as long as the firm is willing to learn from them moving forward. Innovation You     Most important, Segismundo cited the need to future proof individualsby doing their best to be innovative. He offered some 15 suggestions on how to be an innovator.     Innovate or die. Experiment. Take Risks.  Learn, relearn and unlearn.Be Inclusive. Network.     It’s ok to fail but fail fast. Communicate, Communicate, Communicate. Travel.Read a book once a month.Fight for a cause.  Reinvent. Seize opportunities. Know what you are great at.      Be true to your values.     “In short, if we bring the Philippines, Metro CDO or Metro Davao closer to becomingan innovation nation/region, if we drive our organizations to become high performinginnovative companies, and if we all work hard to kindle the latent innovation in each of us, weare a step closer towards creating maximum value for our constituencies which theyrightfully deserve.”     Besides Hijo, Segismundo is also CEO of 1-HR.X Pte. Ltd. and President of the Meralco Power Academy.

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IDC Appoints Fortune Pacific Holdings to handle International Marketing & Promotions

April 26, 2019

Italpinas Development Corporation (IDC), the publicly listed green developer of Italian inspired designed mixed -use condominium recently inked an agreement appointing Fortune Pacific Holdings Limited to handle international sales, marketing and promotions.      Fortune Pacific is represented by Ms. Maria Aisa Ivyreene D. Oliva, a full pledge licensed broker and International Marketing Consultant, Laurence Ziller. Fortune Pacific is based in Hong Kong and has wide relevant experience in consulting, branding, marketing and selling international real estate projects and properties either residential, commercial or retail.       IDC is the developer of award- winning Primavera Residences and Primavera City which are both located at the Pueblo Business Park, Upper Carmen, Cagayan De Oro City. Primavera Residences was completed in 2015 and sold out. On the other hand, Primavera City which is a cluster of seven (7) mixed-use condominium will be developed in four (4) phases. To date, ninety (90) percent of Primavera City Phase 1 had been sold.      Another on-going project of IDC is the Miramonti Green Residences, a twenty one (21) storey mixed- use condominium located at the RFM Science Park, LISP III, Sto. Tomas, Batangas. Construction of the project started last December, 2018 and scheduled for completion by 2020. Miramonti recently won the coveted International Property Awards for Asia and Pacific for Best Mixed-Use Development Category.  IDC will receive the award in May 14-15 at Bangkok, Thailand.  As of this writing, more than 51% residential units has been sold since IDC started pre-selling eight (8) months ago.       “With this remarkable performance, we are expediting to complete all licenses and permits of Primavera City Phase 2 so we can start soon to provide our buyers with the quality residential units they prefer. We have already fully paid the additional 2 lots from Pueblo de Oro Development Corporation and in the process of acquiring the two (2) lot titles. Thus, to complement and expand our sales reach, we have appointed Fortune Pacific to handle the international sales and marketing of our projects in Cagayan de Oro and Sto. Tomas, Batangas to reach Filipino Overseas and other foreign buyers” said Arch. Romolo Nati, Chairman and CEO of IDC.

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Cimatu: PH won’t tolerate illegal wildlife trade

April 26, 2019

The Philippines has once again demonstrated its strong and steadfast commitment to fighting illegal wildlife trade following two consecutive law enforcement operations that resulted in massive seizures of live wild animals and arrest of wildlife criminals.     Environment Secretary Roy A. Cimatu made this remark after the Philippine Operations Group on Ivory and Illegal Wildlife Trade, or Task Force POGI, seized over P50-million worth of live exotic animals reportedly smuggled from Indonesia in an operation conducted on April 8 in Mati City, Davao Oriental.     Earlier this month, the Bureau of Customs also intercepted more than 700 live venomous tarantulas, with combined estimated value of P310,000, at the Ninoy Aquino International Airport. The interception also led to the arrest of two suspects, one of them is the consignee of the shipment from Poland.     Cimatu said the government has not changed its stance on wildlife protection and will not ease its crackdown on illegal trafficking and trade of wildlife species.     “The Philippines is taking illegal wildlife trade seriously,” the former military chief said. “We want to send a clear signal that the country does not tolerate illegal wildlife crime, trafficking and trade that is driving endangered species to the brink of extinction.”     With a value of $23 billion annually, illegal wildlife trade is the fourth most lucrative global crime after illegal drugs, human trafficking and illicit arms trade.     The Philippines has been labeled as a consumer, source and transit point for illegal trade of wildlife and their by-products, threatening endemic species populations, economic development and biodiversity.     Cimatu said the government will not waver in its commitment to end illegal wildlife trade. “We are not going to stop. The fight against illegal wildlife trade is worth fighting,” he said.     In June 2013, the Philippines—through the Department of Environment and Natural Resources (DENR)—destroyed at least five tons of smuggled elephant tusks using a road roller, making the Philippines the first country in Asia to conduct physical destruction of massive ivory stockpile in support of global efforts to stamp out illegal wildlife trade.     Last April 8, Task Force POGI—a composite team of wildlife enforcers from various agencies including the Biodiversity Management Bureau, the National Bureau of Investigation and the Philippine National Police—conducted a raid in Barangay Dahican in Mati City where they confiscated 450 species of bird, mammals and reptiles, including the endangered black palm cockatoos (Probosciger aterrimus) and echidna, both of which are listed in the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) Appendix I and II respectively.     CITES is an international agreement between governments and aims to ensure that international trade in specimens of wild animals and plants does not threaten their survival, and was conceived to regulate the trade of wildlife animals and plants across borders and safeguard certain species from over-exploitation.     Appendix II states a list of species that are not necessarily threatened with extinction, but trade must be controlled in order to avoid utilization incompatible with their survival, while the Appendix I contains a list of species threatened with extinction.     The confiscated exotic animals were reportedly in the area for safekeeping in a week before they are transported to and sold in different areas in the country. The task force arrested two persons who served as caretakers of the wild animals.     Both the suspects in the tarantula shipment and Indonesian wildlife have been charged for violating Republic Act 9147 or the Wildlife Resources and Protection Act, which defines and penalizes illegal wildlife trade.     Under the law, unlawful trading, possession and transport of wildlife species are punishable by a jail term of up to two years and a fine of not more than P200,000.

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Tarrification law boosts Normin rice buffer stock

April 26, 2019

THE new Tarrification Law has boosted the rice of buffer stocks in Northern Mindanao ensuring sufficient supply for the rest of the year.     In a press release, National Food Authority (NFA) 10 director Genaro Nuñez Jr. said the new law hastened the local procurement activities in rice producing areas in the region such as Bukidnon.     Nuñez said this was done with the help coming from the Department of Agriculture (DA) which provided two hauling trucks for procurement activities in remote areas in Malaybalay City.     Under the new rice tarrification law, NFA’s activities will be limited in sourcing its rice buffer stock through local palay procurement sans imports.     Nuñez has set the maximum buying price of P20.40 (individual farmer) and P20.70 (farmers’ cooperative) per kilo, positioning its own mechanical dryers, hauling trucks and warehouses to accommodate a massive palay volume that will be procured in the different provinces in the region.     The amount is on top of other incentives such as P0.20 per kilogram (drying), P0.20 per kilogram (delivery) and P0.30 per kilogram (cooperative incentive fee).     As of April 15, performance of this year’s procurement in the region garnered a total of 20,585 bags of palay with Bukidnon being the highest procuring province at the volume of 12,459; Lanao del Norte (4,613), Misamis Occidental (3,420) and Misamis Oriental (93).     That’s an add on to the 20,611 bags inventoried in December 31 last year, bringing the total to 39,681 bags.     Republic Act 11203, otherwise known as the rice tarrification law, has left NFA with the lone function of ensuring the country’s buffer stocks for emergencies and calamities.

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Italpinas earnings breach P100-M mark in 2018

April 24, 2019

ITALPINAS Development Corp. (IDC) posted a P120.56-million net income in 2018, breaching the P100-million mark for the first time.     IDC’s net income last year was double the P59.9-million profit recorded in 2017.     For 2018, revenues surged 94% to P368.52 million from P147.4 million in the previous year.     “We would like to maintain the trend … In terms of gross sales, we booked around P360 million. We would like to double this year… Next year, we want to double our sales and continue with the growth percentage that we have been able to achieve in the past year,” IDC Chairman and Chief Executive Officer Romolo V. Nati said in a press briefing held on Tuesday in Taguig City.     Mr. Nati said the company hopes to sustain its growth momentum in the next few years.     “Actually, our plan is bigger. In terms, in span of five years we like to replicate in the growth that we experienced starting from 2013. It means we want to achieve a net profit of billions in the next five years, if we will be able to replicate the growth we delivered so far,” he said. IDC recorded a net income of P5.3 million in 2013.     IDC attributed its strong growth in 2018 to sales of its projects, particularly Primavera City in Cagayan De Oro City.     Located near SM City CDO, Primavera City is a mixed-use residential condominium project with six mid-rise buildings and one high rise tower. Broken down, 281 units will be allotted for residential, while 39 will be for commercial/office for the first phase.     Another project developed by IDC is Primavera Residences located within the Pueblo de Oro township also in Cagayan De Oro City. The two tower project, which has 298 units, has been sold out and has completed its turnover.     IDC is also developing the Miramonti project in Sto. Tomas, Batangas.

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