business

Gardening with CitiHardware

April 5, 2021

Flowers and plants increase the level of positive energy, help people feel secure and relaxed. It brings beauty in every space, whether big or small, inside or outside our home. Beyond aesthetic value and ambiance, plants are considered a vital resource.       The global pandemic changed our lives and our way of living. Planting and gardening became one of the gateways to overcome the difficulties of the crisis experienced. Having plants help reduce stress and anxiety. Growing vegetables and crops supplied fresh and healthy foods.      With the drastic change in our daily activities that led people to engage in planting, CitiHardware offers a wide array of products that will suit your gardening needs. Here are some gardening products that are available at CitiHardware 1) Propagation pots, flower pots, and decorative pots with different sizes and colors. 2) Paper seedling trays are also available that are 100% eco-friendly, breathable and biodegradable. These are great for planting flowers and vegetable seeds. 3.) Potting mix, fertilizers and seeds can also be found at CitiHardware. These are helpful in growing your own plants and crops.      CitiHardware also offers hand gardening tools. 1) Garden forks that are used for loosening the soil. 2) Garden trowel and trans -planter are primarily used for digging, transplanting, and weeding. 3) Bypass pruner, trimmer, pruning saw and pruning shears are also available that are used to remove unwanted branches.      CitiHardware also has small garden equipment. These are brush cutters and leaf blowers that are best for pre-gardening activities. You will also find sprayers and garden hoses made from durable materials suitable for light, medium, and heavy-duty uses.      For your gardening and home improvement needs, come and visit any CitiHardware store near you!       You may also shop at the comfort of your home thru Shop & Go hotlines, CitiHardware at Lazada www.Lazada.com.ph/shop/citihardware- inc., and www.shop.citihardware.com. For more information, check our CitiHardware website www.citihardware.com.      Shop safely and conveniently at CitiHardware and enjoy great value every day!

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Century Pacific nets P3.9-B in 2020; enters refrigerated food

April 5, 2021

CENTURY Pacific Food, Inc. (CNPF), one of the country’s leading branded food companies, booked a 24-percent increase in net income to PHP3.9 billion last year even amid the pandemic.      Its consolidated revenues also grew by 19 percent to PHP48.3 billion in 2020, driven primarily by the outperformance of the Branded business with sales rising by 25 percent versus the same period last year.      “We saw robust demand for our branded products all throughout 2020 –beginning with a strong pre-Covid-19 performance, followed by pandemic-related demand spikes, then sustained growth to wrap up the year due largely to the essentials and staples nature of our portfolio,” CNPF executive chairman Christopher Po said in a statement Wednesday.        The Branded business -composed primarily of the Marine, Meat, and Milk business units– remains to be majority of the company’s overall sales representing 81 percent of total topline.      The balance of CNPF’s 19 percent of sales is accounted for by its commodity-linked original equipment manufacturer (OEM) export business, which saw topline decline 1 percent year-on-year as a result of softer commodity prices, reallocation of capacity to domestic requirements, and a stronger peso.       It, however, continued to contribute positively to the company’s net income and cash flows.      “Amidst the uncertainties of 2020, our strong position allowed us to focus primarily on the future --improving our digital capabilities, increasing capacities across our value chain, and building up a robust pipeline of innovative and new products. Over the next 12 to 18 months, we look forward to releasing these to market as we persist in our mission of providing affordable nutrition to the Filipino population,” Po said.       CNPF has previously disclosed a double-digit topline and bottomline growth target for this year despite a high 2020 base and continued uncertainty around the Covid-19 pandemic.       The growth target is due largely to resilient demand for the company’s core branded products, recovery in its OEM export business, and increased contribution from new products and emerging categories.      Starting April 1 this year, the emerging categories will include refrigerated food following the company’s acquisition of Pacific Meat Company, Inc. (PMCI) -an emerging player in the large refrigerated food category.       PMCI, a fellow subsidiary of CNPF’s parent company, comes equipped with its own manufacturing facilities, cold chain distribution, and a robust innovation pipeline of refrigerated better-for-you products.       It is expected to provide CNPF with growth opportunities in a major segment of the food market.      “We are looking at refrigerated food as another platform for growth and look forward to bringing in PMCI as it has now hit scale and built out a pipeline of new products that will supplement CNPF’s. It will provide capabilities in a completely different food segment which is growing and will have synergies with the shelf-stable part of our portfolio,” Po said. (PR)

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Coca-Cola PH to inoculate 10K employees, families

April 5, 2021

COCA-COLA Beverages Philippines, Inc. (CCBPI) has announced that it will give free vaccines against Covid-19 for its 10,000 employees and their immediate family members.      CCBPI president and chief executive officer Gareth McGeown said the firm’s initiative is in support of the government’s goal to rebuild the economy by giving Filipino workers protection against the coronavirus.      “Our People-First commitment means that we are responsible for our employees and their families especially during these most challenging times,” McGeown said in a statement Wednesday.      He added that the company provides health maintenance organization coverage for its employees and their family members in its 20 manufacturing plants and 70 distribution centers and sales office.      During the pandemic, CCBPI also strictly implements safety and sanitation standards to avoid the spread of Covid-19 in the workplace.      McGeown said the company has allocated P2 billion as assistance for its employees amid the global health and economic crisis.      “Our biggest achievement is that we did not have to let anyone go because of the pandemic,” he said. “Creating and championing a people-centric culture is not the job of one person alone. Every single person in the organization made this possible, a shared responsibility among the company’s 10,000 employees.” (PR)

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Targeted spending crucial to economic recovery

April 5, 2021

GOVERNMENTS, including those of the Association of Southeast Asian Nations (Asean), need more targeted spending to boost the recovery of their economies from the pandemic.      Li Lian Ong, ASEAN+3 Macroeconomic Research Office (AMRO) group head and lead specialist, said the greater focus should be on “the segments that will drive and sustain growth going forward”, among others.      “They need to avoid artificially supporting firms that are no longer economically viable… an alternative is to provide support to workers while they upskill to meet demand in the other more in-demand sectors,” she said in a virtual briefing during the release of the Asean+3 Regional Economic Outlook (AREO) Wednesday.       In her presentation, Ong said economic recovery remains shrouded by uncertainties because of pandemic-related risks.      AMRO projects a 6.7-percent growth for ASEAN+3, which comprises 10-member bloc Brunei Darussalam, Cambodia, Indonesia, Lao People’s Democratic Republic, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam plus China, Japan, and Korea, this year.      However, it forecasts a growth moderation to 4.9 percent in 2022.      For one, AMRO sees a  6.9-percent growth for the Philippine economy this year but it projects further growth acceleration to 7.9 percent next year.      Ong said pandemic-related risks are important to be looked into in the short-term because “we cannot really see the economic recovery until the virus is under control.”      “So what is going to be important now is targeted containment that is decisive, effective, and proactive,” she added.      During the same briefing, Marthe Memoracion Hinojales, AMRO economist and AREO lead author, forecasts global value chains (GVCs) to focus more “on resilience and not just efficiency,” which she said, “is a prime characteristic of GVCs until we were hit by back-to-back shocks.”      She projects the ASEAN+3 to be a prime destination of GVCs post-pandemic because of improvements in the infrastructure and labor sectors.      “It (Asean+3) is a good candidate for those seeking to diversify for resilience,” she added.      Along with the geographical part of this issue is the importance of technology and its overall stake in the value chain.      “Users have become comfortable with the technology that was accelerated by the pandemic,” she added. (PNA)

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Bangko Sentral eyes March inflation between 4.2-5%

April 5, 2021

THE  Bangko Sentral ng Pilipinas (BSP) forecasts inflation in March to range between 4.2 to 5 percent, with the point inflation seen at 4.6 percent.      The projected point inflation for the month is lower than the 4.7 percent rate of price increases last February.      In a Viber message to journalists Wednesday, BSP Governor Benjamin Diokno said among the factors for this month’s inflation projection are lower power rates in areas being serviced by the Manila Electric Company (Meralco), and “lower prices of key food items due to supply conditions and the continued implementation of price caps on meat products.”      He, however, cited the rise in oil prices and the weakening of the peso as offsetting factors.      “Moving forward, the BSP will continue to monitor evolving economic and financial conditions to ensure that the monetary policy stance remains consistent with the BSP’s price stability mandate,” he added.      Inflation has been on the rise since the last quarter of 2020 due to supply constraints on several food items like meat, which is caused by the African swine fever (ASF) and the spike in global oil prices.      Monetary authorities project the elevated inflation to last until the third quarter of this year. (PNA)

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Cebu Landmasters set to launch its flagship economic housing brand to four more VisMin cities in 2021

March 8, 2021

Cebu Landmasters Inc. (CLI) recently announced the 2021 rollout of its flagship economic housing brand Casa Mira to four more key cities in the Visayas-Mindanao region as the response to the massive demand for safe and secure value housing heightened by the pandemic.      A study from Leechiu Property Consultants disclosed that by 2022, housing backlog is estimated to reach 6.8 million housing units, 44% of which is from the economic segment catered by the Casa Mira brand.      CLI chief executive officer Jose Soberano III observed that the housing backlog in the Visayas Mindanao region became very apparent in 2020 as infections from COVID-19 surged highlighting a need for economic housing in secure and well-planned communities.      He said: “Many new residential seekers met that need by purchasing Casa Mira homes. As demand in other parts of the region continues to be largely unmet, we’ve made it our mission to roll out more Casa Mira projects in more VisMin cities to fill that gap.”      Ten Casa Mira communities with a development cost of P10.24 billion and a total of over 10,000 housing units are currently in five VisMin locations: Cebu, Bacolod, Cagayan de Oro, Iloilo and Sibulan, Negros Oriental.      New developments will be launched in Dumaguete this month and in other key cities in VisMin in the next few months particularly in Ormoc, Puerto Princesa and Davao City.      At the height of the pandemic in 2020, Vismin residents purchased in record numbers CLI’s Casa Mira housing units priced from Php 1.6 M. They altogether accounted for 69% of CLI’s reservation sales of P14.23 billion, the firm’s highest to date. This robust sales figure indicates the level of revenue CLI will be recording in the future of which Casa Mira has always been a significant contributor with 30% share.      “We believe that an expansive mood and lessons learned from the pandemic–where homes in well-planned communities provided a safe haven–will drive Casa Mira forward for the balance of the year,” says Soberano.      Through Casa Mira, CLI has maintained the largest residential market share in Visayas and Mindanao by upgrading the lifestyle of its residents with generous community amenities usually packaged with higher-priced developments. Thus, Casa Mira townhouses with floor areas from 40 sqm. to 62 sqm. or residential condominium units with floor areas from 20 sqm. to 36 sqm. are perceived to offer great value.      Casa Mira communities also offer more value to the buyers by providing more open spaces and more amenities such as a clubhouse with multi-purpose halls, chapel, swimming pool, basketball court and children’s playground. Casa Mira is also envisioned to be a complete community with retail spaces inside the subdivisions where residents can purchase their basic necessities.      Casa Mira homes have been warmly received in every city, even in Dumaguete where it was recently launched. Casa Mira Home Dumaguete offers a gated and well-planned community located near a transport hub, schools and churches; and has 586 townhouse units a short walk away from a community clubhouse, swimming pool, multi-purpose court, and play area.      As much as 60% of the development’s 6.1 hectares in phase 1 has been earmarked as open space allowing residents breathing and leisure space. Moreover, the community is protected by a 24-hour security system and enjoys professional property management services offered by a CLI affiliate.      “We envision each Casa Mira project to provide the most ideal community for the average Filipino Family. It’s a place where families can grow and live their best lives,” explained Soberano.      Casa Mira projects have won various awards. Casa Mira South in Cebu was named Best Housing Development in the province by PropertyGuru Philippines Property Awards 2018. The same development was named as the Best House of the Year in the Visayas and Mindanao during the Outlook Awards 2018 by Lamudi. In 2019, Lamudi named Casa Mira Towers in Labangon as the Best Affordable Condo of the Year.      The brand’s rapid expansion from its first developments in Cebu, to Negros Oriental, to Cagayan de Oro and Bacolod in the past seven years attests to its ability to meet its promise “to give more to the Filipino family.”      With the rapid development of CLI, the stockholders of the company have approved the 123% stock dividends during the special stockholders’ meeting. The purpose is to strengthen the capital base of the listed company that now has more than P50 billion total assets, and to prepare the firm for any significant equity raising opportunities. The aforementioned stock dividends will be sourced from the increase in authorized capital stock of CLI upon approval of the Securities and Exchange Commission.

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