November 18, 2017, 1:15 am
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1 Philippine Peso = 0.07227 UAE Dirham
1 Philippine Peso = 2.22452 Albanian Lek
1 Philippine Peso = 0.03503 Neth Antilles Guilder
1 Philippine Peso = 0.34355 Argentine Peso
1 Philippine Peso = 0.02607 Australian Dollar
1 Philippine Peso = 0.03503 Aruba Florin
1 Philippine Peso = 0.03935 Barbados Dollar
1 Philippine Peso = 1.64187 Bangladesh Taka
1 Philippine Peso = 0.0327 Bulgarian Lev
1 Philippine Peso = 0.00742 Bahraini Dinar
1 Philippine Peso = 34.29713 Burundi Franc
1 Philippine Peso = 0.01968 Bermuda Dollar
1 Philippine Peso = 0.02667 Brunei Dollar
1 Philippine Peso = 0.13499 Bolivian Boliviano
1 Philippine Peso = 0.0645 Brazilian Real
1 Philippine Peso = 0.01968 Bahamian Dollar
1 Philippine Peso = 1.28247 Bhutan Ngultrum
1 Philippine Peso = 0.20681 Botswana Pula
1 Philippine Peso = 393.93939 Belarus Ruble
1 Philippine Peso = 0.03931 Belize Dollar
1 Philippine Peso = 0.02511 Canadian Dollar
1 Philippine Peso = 0.01951 Swiss Franc
1 Philippine Peso = 12.40988 Chilean Peso
1 Philippine Peso = 0.13051 Chinese Yuan
1 Philippine Peso = 59.13813 Colombian Peso
1 Philippine Peso = 11.08422 Costa Rica Colon
1 Philippine Peso = 0.01968 Cuban Peso
1 Philippine Peso = 1.83943 Cape Verde Escudo
1 Philippine Peso = 0.42677 Czech Koruna
1 Philippine Peso = 3.47954 Djibouti Franc
1 Philippine Peso = 0.12411 Danish Krone
1 Philippine Peso = 0.94451 Dominican Peso
1 Philippine Peso = 2.25075 Algerian Dinar
1 Philippine Peso = 0.2609 Estonian Kroon
1 Philippine Peso = 0.34652 Egyptian Pound
1 Philippine Peso = 0.53227 Ethiopian Birr
1 Philippine Peso = 0.01667 Euro
1 Philippine Peso = 0.04117 Fiji Dollar
1 Philippine Peso = 0.0149 Falkland Islands Pound
1 Philippine Peso = 0.01491 British Pound
1 Philippine Peso = 0.0895 Ghanaian Cedi
1 Philippine Peso = 0.92483 Gambian Dalasi
1 Philippine Peso = 177.2137 Guinea Franc
1 Philippine Peso = 0.14447 Guatemala Quetzal
1 Philippine Peso = 4.05313 Guyana Dollar
1 Philippine Peso = 0.15372 Hong Kong Dollar
1 Philippine Peso = 0.46232 Honduras Lempira
1 Philippine Peso = 0.12613 Croatian Kuna
1 Philippine Peso = 1.21291 Haiti Gourde
1 Philippine Peso = 5.19481 Hungarian Forint
1 Philippine Peso = 266.09603 Indonesian Rupiah
1 Philippine Peso = 0.06915 Israeli Shekel
1 Philippine Peso = 1.27847 Indian Rupee
1 Philippine Peso = 22.9634 Iraqi Dinar
1 Philippine Peso = 693.36875 Iran Rial
1 Philippine Peso = 2.02755 Iceland Krona
1 Philippine Peso = 2.47068 Jamaican Dollar
1 Philippine Peso = 0.01392 Jordanian Dinar
1 Philippine Peso = 2.21558 Japanese Yen
1 Philippine Peso = 2.03994 Kenyan Shilling
1 Philippine Peso = 1.37194 Kyrgyzstan Som
1 Philippine Peso = 79.10272 Cambodia Riel
1 Philippine Peso = 8.33333 Comoros Franc
1 Philippine Peso = 17.70956 North Korean Won
1 Philippine Peso = 21.5429 Korean Won
1 Philippine Peso = 0.00594 Kuwaiti Dinar
1 Philippine Peso = 0.01614 Cayman Islands Dollar
1 Philippine Peso = 6.52952 Kazakhstan Tenge
1 Philippine Peso = 163.2625 Lao Kip
1 Philippine Peso = 29.73239 Lebanese Pound
1 Philippine Peso = 3.02145 Sri Lanka Rupee
1 Philippine Peso = 2.44392 Liberian Dollar
1 Philippine Peso = 0.27873 Lesotho Loti
1 Philippine Peso = 0.05999 Lithuanian Lita
1 Philippine Peso = 0.01221 Latvian Lat
1 Philippine Peso = 0.02676 Libyan Dinar
1 Philippine Peso = 0.18535 Moroccan Dirham
1 Philippine Peso = 0.34406 Moldovan Leu
1 Philippine Peso = 1.02145 Macedonian Denar
1 Philippine Peso = 26.82015 Myanmar Kyat
1 Philippine Peso = 48.01181 Mongolian Tugrik
1 Philippine Peso = 0.15831 Macau Pataca
1 Philippine Peso = 6.91558 Mauritania Ougulya
1 Philippine Peso = 0.66706 Mauritius Rupee
1 Philippine Peso = 0.30638 Maldives Rufiyaa
1 Philippine Peso = 14.09681 Malawi Kwacha
1 Philippine Peso = 0.37473 Mexican Peso
1 Philippine Peso = 0.08186 Malaysian Ringgit
1 Philippine Peso = 0.27564 Namibian Dollar
1 Philippine Peso = 7.02479 Nigerian Naira
1 Philippine Peso = 0.60232 Nicaragua Cordoba
1 Philippine Peso = 0.16201 Norwegian Krone
1 Philippine Peso = 2.03758 Nepalese Rupee
1 Philippine Peso = 0.02897 New Zealand Dollar
1 Philippine Peso = 0.00757 Omani Rial
1 Philippine Peso = 0.01968 Panama Balboa
1 Philippine Peso = 0.06374 Peruvian Nuevo Sol
1 Philippine Peso = 0.06312 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.07261 Pakistani Rupee
1 Philippine Peso = 0.07062 Polish Zloty
1 Philippine Peso = 111.06651 Paraguayan Guarani
1 Philippine Peso = 0.07477 Qatar Rial
1 Philippine Peso = 0.07746 Romanian New Leu
1 Philippine Peso = 1.16854 Russian Rouble
1 Philippine Peso = 16.37721 Rwanda Franc
1 Philippine Peso = 0.07379 Saudi Arabian Riyal
1 Philippine Peso = 0.15368 Solomon Islands Dollar
1 Philippine Peso = 0.26269 Seychelles Rupee
1 Philippine Peso = 0.13104 Sudanese Pound
1 Philippine Peso = 0.16586 Swedish Krona
1 Philippine Peso = 0.02669 Singapore Dollar
1 Philippine Peso = 0.01491 St Helena Pound
1 Philippine Peso = 0.43695 Slovak Koruna
1 Philippine Peso = 149.94097 Sierra Leone Leone
1 Philippine Peso = 10.99961 Somali Shilling
1 Philippine Peso = 408.72688 Sao Tome Dobra
1 Philippine Peso = 0.17218 El Salvador Colon
1 Philippine Peso = 10.13341 Syrian Pound
1 Philippine Peso = 0.2756 Swaziland Lilageni
1 Philippine Peso = 0.64542 Thai Baht
1 Philippine Peso = 0.04872 Tunisian Dinar
1 Philippine Peso = 0.04538 Tongan paʻanga
1 Philippine Peso = 0.07647 Turkish Lira
1 Philippine Peso = 0.13045 Trinidad Tobago Dollar
1 Philippine Peso = 0.59144 Taiwan Dollar
1 Philippine Peso = 43.97875 Tanzanian Shilling
1 Philippine Peso = 0.52076 Ukraine Hryvnia
1 Philippine Peso = 71.36954 Ugandan Shilling
1 Philippine Peso = 0.01968 United States Dollar
1 Philippine Peso = 0.57989 Uruguayan New Peso
1 Philippine Peso = 158.20543 Uzbekistan Sum
1 Philippine Peso = 0.19628 Venezuelan Bolivar
1 Philippine Peso = 446.89099 Vietnam Dong
1 Philippine Peso = 2.12515 Vanuatu Vatu
1 Philippine Peso = 0.05043 Samoa Tala
1 Philippine Peso = 10.9329 CFA Franc (BEAC)
1 Philippine Peso = 0.05313 East Caribbean Dollar
1 Philippine Peso = 10.93861 CFA Franc (BCEAO)
1 Philippine Peso = 1.9754 Pacific Franc
1 Philippine Peso = 4.91834 Yemen Riyal
1 Philippine Peso = 0.27568 South African Rand
1 Philippine Peso = 102.11531 Zambian Kwacha
1 Philippine Peso = 7.12121 Zimbabwe dollar

PH: Ayala hub for car exports

The Ayala Group is expanding its manufacturing business preparing the Philippines as its hub for car exports. Ayala has under its wing four brands, Honda, Volkswagen, Isuzu and KTM. 

Arthur Tan, president and chief executive officer of AC Industrial Technology Holdings Inc., said the company starts production next week of KTM branded motorcycles and within the term of President Duterte, four wheeled vehicles for exports.

“We want to prove that the Philippines is a viable manufacturing hub of vehicles, that it can produce and export finished products. We want the Philippines to be the Asean hub for whatever car we will build,” said Tan on the sidelines of a corporate event of Volkswagen Philippines, one of the companies under AC Industrial.

He said AC Industrial is still pursuing plans to produce a four-wheeled vehicle in the Philippines independent of the Comprehensive Automotive Resurgence Strategy (CARS) program.

“We’re still pursuing that, we’re looking at the supply chain… What they will allow us to be able to produce a car and for a partner to come into the country… the key component parts and be able to convince them that producing the car itself makes viable sense to do it within the country.And not just for export but for domestic which is the key component of the motorcycle venture,” said Tan. 

Tan hopes the current administration would be much “more forward and long time thinking in partnering with companies like us which are willing to take that step. I’m still very positive that we’ll be able to do it (within the current administration). I feel that will happen. The previous administration, we tried to work strongly in order to bring in that time the Volkswagen and yet we were not successful. This new administration would have a better, much longer perspective.”

 The plan has been brought up with partner Volkswagen AG but this had been put on hold.

Klaus Dieter Schadewald, chief operating advisor of Volkswagen Philippines, said the company would have to take into consideration the investment required to do completely knocked-down operations in the Philippines which could go beyond $200 million.

For KTM AG, AC Industrial’s partnership with the fourth largest motorcycle manufacturer KTM Asia Motorcycle Manufacturing Inc., Tan said it would produce 3,000 to 5,000 units this year, ramping it up until it could reach its capacity of 30,000 units per year.

“We have space to double that. We are pleasantly surprised KTM is doing very well locally. We will export more than we will sell,” said Tan. From 50:50, the long-term plan is to export 70 percent of production to China.

 To be produced are 200cc to 400cc models, which are bigger than what the market offers at present.

“It is still mass market but (KTM is) a bit more aspirational. We are on track in production,” noted Tan.

Tan said CARS is a great program “if the plan is to be able to further enhance the incumbents,” but it is “very difficult for new players.”

“The hurdle rate, if we are to look historically to how all these carcompanies started in all the different locations globally, they didn’t come up… they didn’t drive through the CARS program,” said Tan, referring to the 200,000 units as minimum hurdle.

 He added the government should also create a level playing field in terms of giving lower tariffs for European cars under the planned Philippines-European Union free trade agreement. 

“Whatever it is to make a level playing field that the FTA (the Philippines) has accepted from one country and accept from the EU countries. I am not asking them to change anything. Whatever it is, make it a level playing field and let the market decide because it is good for the consumers. The benefit faroutweighs the negative to the public by getting more choices, getting more suppliers and developing more SMEs (small and medium enterprises) in manufacturing,” Tan said.

Volkswagen has asked the government to include in its FTA negotiations with the EU the reduction of tariffs on vehicles imported from EU. Tariffs currently stand at 30 percent.

But the move has been opposed by existing players, such as those which currently enjoy concessions under the Japan-Philippines economic partnership agreement and Asean and its FTAs with dialogue partners.

​Before setting up AC Industrial, Ayala Corp.’s sole manufacturing​ business was electronics, through Integrated Micro-Electronics Inc. (IMI).

Tan is now also the new president and CEO of Volkswagen Philippines effective January 1.

In 2016, AC Industrial was formed to execute Ayala Corp.’s strategy to create an industrial conglomerate which would house its manufacturing and automotive assets. The manufacturing and product development expertise of IMI, which has a growing business in the automotive electronics sector, has been combined with the rapidly developing AC Automotive group. Volkswagen Philippines disclosed 2017 targets to effectively double its 2016 performance to 2,000 units.
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