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BMW Eyes More Auto Parts from Philippines

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Image Source: BMW Group

Luxury carmaker BMW Group is eyeing to source more automotive vehicle parts from the Philippines, Department of Trade and Industry (DTI) Secretary Ramon Lopez said.

“I met BMW group also and they will be sourcing more automotive electronic parts from the Philippines as part of its ASEAN strategy,” Lopez told reporters in a text message.

The DTI chief was in Germany last week and met with various German business chambers and companies where he also promoted the ‘Dutertenomics’.

Lopez said that BMW was now importing an average of 16 million euros, or about PHP925 million worth of auto parts such as components and electronic control units from the Philippines annually.

[BMW] intends to increase that value in the coming years in support of its ASEAN strategy, which identified Thailand and Malaysia as its manufacturing hubs in the region and Philippines as auto parts supplier,” he noted.

Data from the Philippine Statistics Authority (PSA) showed that the country’s export of automotive electronics in 2016 grew 30.4 percent to USD146 million from USD112 million in 2015.

BMW also intends to bring latest plug-in hybrid vehicles and collaborate with local Electric Vehicle Association of the Philippines in building the necessary e-vehicle infrastructures such as the setting-up of charging stations in the country,” Lopez added. (Kris M. Crismundo/PNA)

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Globe Telecom Named GoCanvas APAC Partner of the Year 2017

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GoCanvas CEO James Quigley hand-delivers the award to Globe President and CEO Ernest Cu

Mobile workflow automation platform GoCanvas has awarded leading telecommunications company Globe Telecom its APAC Partner of the Year award for 2017.

Globe is a major user of the GoCanvas platform, with multiple use cases covering everything from internal expense and vacation requests, to vehicle repair request and audit checks. With a major project underway to roll out GoCanvas to its entire 7,600 workforce, Globe has become one of the largest GoCanvas clients.

“The Philippines is at the forefront of digital transformation for businesses in the APAC region – Globe Telecom is a key factor in the rapid adoption of smartphones and the automation of workplace processes,” said GoCanvas CEO James Quigley. “We share Globe Telecom’s commitment to green initiatives and look forward to our continuing partnership helping thousands more businesses mobilize their workforce and fuel sustainable innovation.”

“We’re delighted to be named the GoCanvas Partner of the Year,” said Peter Maquera, Globe Senior Vice President for Enterprise Group. “This accolade speaks volumes as our efforts in automating our business processes and the continuous reduction of our ecological footprint proves to be a great success. Aligned to our purpose, we will continue to enable our employees with simpler business processes that will help reduce the impact of our business operations and actively care for the environment.”

As part of the award, GoCanvas will provide its services and expertise free of charge through its Ante-Up Program to several of the charities supported by Globe. The first will be the Hineleban Foundation which aims to revive ecosystems in the Philippines, focusing on reforestation and community work.

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8990 Holdings Launches P2-B Cebu Mid-rise Condo Dev’t

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Image Source: 8990housing.com

Listed mass housing developer 8990 Holdings Inc. expects to generate Php2 billion in sales from its second mid-rise condominium development in Barangay Tisa, Cebu City, as it expands its footprint in high growth areas across Visayas and Mindanao.

8990 Holdings President and Chief Executive Officer Willie J. Uy said continued strong demand prompted the company to launch Urban Deca Homes Tisa 2, which it would spend around Php800 million for its development until 2021.

Urban Deca Homes Tisa 2 will have 21 four-storey buildings served by elevators. Each building will have an average of 70 units or a total of 1,392 units for the entire project.

Its first project in Tisa has already been sold out..

“Urban Deca Homes Tisa 1 was well-received by the market due to its affordability combined with a great view of the mountains on one side while overlooking Cebu City and the sea on the other side,” said 8990 Holdings President and Chief Executive Officer Willie J. Uy.

The company is allotting Php3 billion for capital expenditures this year for the development of more mass housing projects, both vertical and horizontal, as it aims to help the government reduce the huge housing backlog of 5.9 million units.

Uy said revenue growth now depends on how fast they can secure permits to sell because they have already bought the land that they need and demand continues to be strong.

8990 Holdings still has a land bank of about 554 hectares, although it will continue to purchase land but less aggressively as it just needs to replace those that it will use for development.

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Cebu Landmasters Eyes P7-B Reservation Sales This Year

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Image Source: www.cebulandmasters.com

Listed property developer Cebu Landmasters Inc. (CLI) targets to hit Php7 billion in reservation sales this year, up 52 percent from Php4.58 billion posted last year.

CLI attributed its exceptional performance last year mainly to newly-launched residential projects, which are now almost fully sold.

“In 2018, we will continue to expand our footprint in the Visayas and Mindanao, and develop projects that respond to the growing market in these areas,” CLI chief executive officer Jose Soberano III told the local bourse.

The company will launch this year 20 new developments, among them two residential subdivisions, three residential condominiums, three offices, one hotel and one industrial park in Cebu; two residential condominiums and a hotel in Bacolod; and a residential condo in Iloilo.

It also plans to fortify its foothold in Mindanao where it will launch two residential subdivisions and one residential condominium in Cagayan de Oro, while a central business district and two residential condominiums will be unveiled in Davao.

The upcoming projects boost CLI’s total number of projects to 66 from 46 last year, as it continues to strengthen its brand in its niche markets.

Soberano is confident of meeting performance targets set for the year and beyond.

The company targeted to book Php1.7 billion in profit and Php5.3 billion in revenue in 2018.

It expects that hikes in household income resulting from the newly approved package 1 of the Duterte government’s Tax Reform for Acceleration and Inclusion (TRAIN) law will be channeled to housing.

CLI said government spending in infrastructure was also expected to unlock land values outside Metro Manila and stimulate business in the countryside.

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IKEA to Announce Opening Date This Year

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Image Source: curbed.com

Swedish furniture company IKEA was planning to announce targeted opening date in the Philippines within the year, IKEA Sustainability and Communication Director Lars Svensson said Wednesday.

In an interview on the sidelines of Responsible Business conference in Makati, Swedish Ambassador Harald Fries said IKEA was planning to open its first Philippine store early 2020.

Asked about this, Svensson neither denied nor confirmed saying “until (they) have everything firmed up, that’s when (they’ll) announce the date of opening.

“I can say that within this year, we’ll announce it,” he said, explaining they were concealing it for the meantime so as to avoid influencing property prices.

“It’s just that it is an aspect of not fuelling speculation because the size of the company and the size of the brand equates to the interest, that’s a positive thing for us but we do not want to drive speculation where we’re going to be influencing property prices etc.,” he said.

“Absolutely, it is no secret we’re eyeing the Philippines to open next IKEA,” he added.

Svensson said they were highly optimistic about “the maturity and the development” of the Philippine economy. “We really believe it’s a place that is ready in terms of capacity and industry that could support.” 

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