business

Vista Land income declines by 45%

April 26, 2021

VISTA Land & Lifescapes, Inc. reported a consolidated net income of P6.4 billion, 45% lower than the P11.6 billion generated in 2019 due to the pandemic.      “The past year truly challenged our ability to move forward despite the presence of a global health crisis. However, it even proved to be one of our most innovative years yet as we accelerated our digital transformation to reach and to better serve our clients,” Vista Land Chairman Manuel B. Villar, Jr. said in a statement on Thursday.      The company’s consolidated revenues dropped by 26% to P32.7 billion from P44.4 billion.      Vista Land said rental revenues from its commercial business dropped by 7%, without disclosing specific figures.      The property developer launched P5-billion worth of residential projects in the last quarter of 2020, ending the year with a launch value of P10 billion.      “We are glad to have witnessed the sustained uptrend of our reservation sales registering 37% growth since the second quarter of last year and are looking at 2021 with optimism following the resilient overseas Filipino remittances in 2020 and its projected growth of up to 4% this year,” Mr. Villar said.      The company’s capital expenditures totaled to P24.6 billion for the year, while total consolidated assets as of the end of December amounted to P284.1 billion.      “Vista Land will continue to capitalize on its geographic reach as the demand and preference of affordable housing located outside Metro Manila continues to be seen. We are also looking at increased foot traffic with the start of the vaccination rollout this year,” Mr. Villar said.      Meanwhile, Vista Land’s leasing business was able to improve its operational gross floor area (GFA) to 95% as most of its tenants were deemed essential.      “We also added over 90,000 square meters of GFA for our leasing business, mostly commercial centers as we took advantage of the captive demand of our residents,” Manuel Paolo A. Villar, president and chief executive officer of Vista Land, said.

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Learn valuable insights and groundbreaking ideas from leading experts at the Asian Business Conference this April 24, 2021!

April 21, 2021

The Asian Business Conference (ABC) is a regional conference that provides a venue for business leaders and professionals in the APAC region to explore developments, opportunities, and issues of critical importance to businesses and organizations.      On April 24, the [Virtual] Asian Business Conference 2021 (ABC’21) offers participants the chance to discover the latest strategies, insights, and groundbreaking ideas to elevate themselves despite the uncertainty that organizations face with compelling topics will be discussed in two keynotes, a panel discussion and four break-out sessions.       Its line-up of international speakers will share insights on how companies and businesses can equip their organizations with the tools to adapt to and advance in these challenging times. Listen and learn from these leading experts:      * Steve Brice, CIO of Standard Chartered Bank on Navigating Investments in Turbulent Times;      * Syanaz Nugroho, Founder & President, Rorokenes Indonesia on Entrepreneurial Leadership;      * Henry Rhoel Aguda, COO, CTO, Chief Transformation Officer & SEVP, Union Bank of the Philippines on the Future of Technopreneurship;      * Jun Abelardo, Founder of Kitchen City and its Story of Resilience;      * Paul Huynh, Head of People, Performance & Culture (PPC) of KPMG Asia Pacific, on the Workforce of the Future      The ABC is the platform where pioneers, professionals, leaders, entrepreneurs, innovators transform their vision, drive, and passion for growth into fresh opportunities to connect, collaborate, and innovate.      Learn more about the event by following AIM Alumni - Cebu on Facebook or aimalumni.cebu on Instagram. Limited slots only, reserve your FREE seats today!      ABC’21 is being sponsored by Tsuneishi Technical Services Philippines, Inc, Tsuneishi Heavy Industries, Inc, Columbia Technologies, Inc., PLDT and is in partnership with Cebu Chamber of Commerce and Industries, Financial Executives Institute of Cebu, Inc., PICPA-Cebu Chapter, and Hotel, Resort & Restaurant Association of Cebu.

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Puregold Offers Users a Safer Shopping experience with ShopeePay

April 21, 2021

Until May 18, shoppers can get 20% cashback when they pay for their groceries using ShopeePay Shopee, the leading e-commerce platform in Southeast Asia and Taiwan, partners with Puregold to offer its customers a safer payment method via ShopeePay, its integrated mobile wallet. Starting today, customers can pay for their groceries using ShopeePay in over 406 Puregold branches nationwide and can enjoy up to 20% cashback starting today until December 31, 2021.      With more Filipinos embracing cashless transactions and digital payment methods gaining traction, Shopee continues to offer a wide range of digital payment options to cater to Filipinos' evolving needs, including ShopeePay, our mobile wallet.      Ferdinand Vincent Co, President at Puregold, said, “Puregold is excited to partner with ShopeePay for this initiative. At Puregold, we want to give our customers only the best kind of service and overall quality shopping experience, and that includes easier and safer payment methods. Through the convenience of digital payments, we aim to increase customer enthusiasm while consumers maintain their purchasing power.”      Martin Yu, Director at Shopee Philippines, said, “We are always thrilled to partner with one of the Filipinos’ favorite brands, such as Puregold. Through ShopeePay,  we strive to ensure that users can shop and pay with ease. In addition to the ease of use, ShopeePay offers several benefits to users which include convenience, a seamless user experience, security, and greater cost savings. Shopee will continue to collaborate with more brand partners to make paying for online purchases easier for Filipinos amidst the pandemic and beyond.”       For shoppers opting to pay via ShopeePay, here are six easy steps to follow:   Inform the cashier you would like to pay via ShopeePay  Go to your ShopeePay wallet action bar and tap “Scan.” Click QR / Barcode Enter your 6-digit ShopeePay PIN Present generated QR code to cashier for scanning  You will receive a confirmation of your payment      Download the Shopee app for free via the App Store or Google Play and pay for groceries via ShopeePay to get 20% cashback on Puregold purchases.

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AirAsia PH eyes tapping more e-wallet providers

April 21, 2021

AIRASIA Philippines is looking to tap more e-wallet service providers to allow more payment options to its passengers.      "We will definitely tap other e-wallets to make sure that our guests get the most out of their travel and lifestyle experience. AirAsia is moving beyond just an airline. We take pride in our pivot to digital transformation, especially during these times," spokesperson Steve Dailisan told the Philippine News Agency when asked if there is a plan to partner with other e-wallets services aside from GCash.      The carrier recently partnered with Mynt, the operator of GCash.       Dailisan said the partnership started in February, but only offline payments were facilitated previously.      The difference now, he said, is that online payments via GCash can now also be facilitated.       "It's made available online so that more guests can have access to it. At the same time, this forms part of AirAsia's greater push for digitalization. We want our guests to experience convenience and contactless transactions in view of the present health situation," Dailisan said.       Passengers may book their flights and pay for their meals or additional baggage using GCash.       They can select "wallet" on the AirAsia website or app, or scan the QR code at the check in counter to pay cashless.      Last year, GCash registered over 33 million users, 65 percent higher compared to 20 million users in 2019.       Earlier, GCash reported it exceeded its targets last year with transaction value hitting over PHP1 trillion, peaking at a PHP7.5 billion daily gross transaction value and with more than 6 million transactions in a day. (PNA)

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Imported vehicle sales up 7% in first quarter

April 21, 2021

SALES of imported vehicles for the first quarter of the year increased by 7 percent to 15,857 units from 14,554 units sold in the same period in 2020, the Association of Vehicle Importers and Distributors (AVID) reported Tuesday.      AVID said all vehicle segments except for passenger cars recorded a positive sales growth in the January to March 2021 period.      Light commercial vehicle sales for the first three months of the year rose by 13 percent to 11,198 units from 9,895 units sold in the same period last year.      Commercial vehicle sales surged by 354 percent in the first quarter of 2021 to 418 units from 92 units in 2020.      On the other hand, sales of passenger cars declined by 7 percent to 4,241 units sold between January and March this year from 4,567 units sold in the same period of the previous year.      On a year-on-year basis, sales of AVID members have recovered in March 2021 from March 2020 -- the onset of coronavirus disease 2019 (Covid-19) pandemic.      Sales last month jumped by 95 percent to 5,193 units from March 2020’s 2,663 units.      Compared to February 2021, sales last month declined by 4 percent from 5,401 units.      “The slow uptick of passenger cars is a result of continued low consumer confidence,” AVID president Ma. Fe Perez-Agudo said in a statement.      Month-on-month passenger car sales decreased by 10 percent to 1,372 units in March from 1,518 units in February.      Light commercial vehicle sales also slipped by 1 percent to 3,676 last month from February 3,728 unit sales.      Commercial vehicle sales declined by 6 percent to 145 units in March from 155 units sold in February.      “But let us not discount the commendable performances of light commercial vehicles and commercial vehicles, and the hardworking teams that drive them.       We see these two segments as our industry’s lifesavers as they lend indispensable support to the country’s revitalized infrastructure development programs,” Perez-Agudo added. (PNA)

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House panel approves bill to develop PHL capital markets

April 21, 2021

A PROPOSAL to reform the current private pension system to make it portable and actuarially fair was approved on committee level by the House of Representatives.      The House Committee on Banks and Financial Intermediaries on Thursday approved the committee report on the proposed Capital Market Development Act of 2021 subject to style and amendments. The panel has been holding hearings on the measure since last month.      Economic managers earlier backed the measure, saying it will help develop capital markets by expanding the local investor base.      “I’d like to express my deepest gratitude to my esteemed colleagues for helping process this very important measure. I think we have thoroughly discussed it and consulted all possible stakeholders who have likewise actively engaged with us,” Quirino Province Rep. Junie E. Cua, the bill’s author and the committee’s chair, said during the hearing on Thursday.      If enacted, the proposed law will establish the Employee Pension and Retirement Income (EPRI) Account, which will be mandatory for all employees covered under the Labor Code of the Philippines. Workers will also get to decide on what investments they can make using their EPRI assets as long as these are legal and accredited.      Employers are required to contribute an initial 4% to the EPRI account while workers will allocate at least 0% to 1% to their own pensions, depending on how much they earn. The EPRI account will also have a portability feature, which will follow the employee/account holder regardless of change in employer. The measure also mandates the inclusion of financial literacy in the basic education system.

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