April 21, 2018, 10:06 am
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1 Philippine Peso = 0.07053 UAE Dirham
1 Philippine Peso = 1.99923 Albanian Lek
1 Philippine Peso = 0.03418 Neth Antilles Guilder
1 Philippine Peso = 0.38677 Argentine Peso
1 Philippine Peso = 0.02467 Australian Dollar
1 Philippine Peso = 0.03418 Aruba Florin
1 Philippine Peso = 0.03841 Barbados Dollar
1 Philippine Peso = 1.59228 Bangladesh Taka
1 Philippine Peso = 0.03034 Bulgarian Lev
1 Philippine Peso = 0.00724 Bahraini Dinar
1 Philippine Peso = 33.62742 Burundi Franc
1 Philippine Peso = 0.0192 Bermuda Dollar
1 Philippine Peso = 0.02503 Brunei Dollar
1 Philippine Peso = 0.13175 Bolivian Boliviano
1 Philippine Peso = 0.06526 Brazilian Real
1 Philippine Peso = 0.0192 Bahamian Dollar
1 Philippine Peso = 1.26032 Bhutan Ngultrum
1 Philippine Peso = 0.18403 Botswana Pula
1 Philippine Peso = 384.48243 Belarus Ruble
1 Philippine Peso = 0.03837 Belize Dollar
1 Philippine Peso = 0.02421 Canadian Dollar
1 Philippine Peso = 0.01858 Swiss Franc
1 Philippine Peso = 11.41406 Chilean Peso
1 Philippine Peso = 0.12052 Chinese Yuan
1 Philippine Peso = 52.12791 Colombian Peso
1 Philippine Peso = 10.7778 Costa Rica Colon
1 Philippine Peso = 0.0192 Cuban Peso
1 Philippine Peso = 1.71039 Cape Verde Escudo
1 Philippine Peso = 0.39282 Czech Koruna
1 Philippine Peso = 3.39601 Djibouti Franc
1 Philippine Peso = 0.11551 Danish Krone
1 Philippine Peso = 0.94891 Dominican Peso
1 Philippine Peso = 2.1798 Algerian Dinar
1 Philippine Peso = 0.24262 Estonian Kroon
1 Philippine Peso = 0.33916 Egyptian Pound
1 Philippine Peso = 0.52276 Ethiopian Birr
1 Philippine Peso = 0.01551 Euro
1 Philippine Peso = 0.03865 Fiji Dollar
1 Philippine Peso = 0.01348 Falkland Islands Pound
1 Philippine Peso = 0.01349 British Pound
1 Philippine Peso = 0.08525 Ghanaian Cedi
1 Philippine Peso = 0.89975 Gambian Dalasi
1 Philippine Peso = 172.80584 Guinea Franc
1 Philippine Peso = 0.14089 Guatemala Quetzal
1 Philippine Peso = 3.95007 Guyana Dollar
1 Philippine Peso = 0.15072 Hong Kong Dollar
1 Philippine Peso = 0.45249 Honduras Lempira
1 Philippine Peso = 0.11491 Croatian Kuna
1 Philippine Peso = 1.24505 Haiti Gourde
1 Philippine Peso = 4.8093 Hungarian Forint
1 Philippine Peso = 264.60534 Indonesian Rupiah
1 Philippine Peso = 0.06739 Israeli Shekel
1 Philippine Peso = 1.26727 Indian Rupee
1 Philippine Peso = 22.73862 Iraqi Dinar
1 Philippine Peso = 806.60649 Iran Rial
1 Philippine Peso = 1.91031 Iceland Krona
1 Philippine Peso = 2.37565 Jamaican Dollar
1 Philippine Peso = 0.01361 Jordanian Dinar
1 Philippine Peso = 2.06171 Japanese Yen
1 Philippine Peso = 1.92145 Kenyan Shilling
1 Philippine Peso = 1.32194 Kyrgyzstan Som
1 Philippine Peso = 76.97331 Cambodia Riel
1 Philippine Peso = 7.61206 Comoros Franc
1 Philippine Peso = 17.28442 North Korean Won
1 Philippine Peso = 20.40042 Korean Won
1 Philippine Peso = 0.00575 Kuwaiti Dinar
1 Philippine Peso = 0.01575 Cayman Islands Dollar
1 Philippine Peso = 6.25043 Kazakhstan Tenge
1 Philippine Peso = 158.93989 Lao Kip
1 Philippine Peso = 28.9034 Lebanese Pound
1 Philippine Peso = 2.99693 Sri Lanka Rupee
1 Philippine Peso = 2.50451 Liberian Dollar
1 Philippine Peso = 0.22892 Lesotho Loti
1 Philippine Peso = 0.05855 Lithuanian Lita
1 Philippine Peso = 0.01192 Latvian Lat
1 Philippine Peso = 0.02543 Libyan Dinar
1 Philippine Peso = 0.17577 Moroccan Dirham
1 Philippine Peso = 0.31452 Moldovan Leu
1 Philippine Peso = 0.94968 Macedonian Denar
1 Philippine Peso = 25.52333 Myanmar Kyat
1 Philippine Peso = 45.86134 Mongolian Tugrik
1 Philippine Peso = 0.15521 Macau Pataca
1 Philippine Peso = 6.76013 Mauritania Ougulya
1 Philippine Peso = 0.64144 Mauritius Rupee
1 Philippine Peso = 0.29902 Maldives Rufiyaa
1 Philippine Peso = 13.70175 Malawi Kwacha
1 Philippine Peso = 0.35007 Mexican Peso
1 Philippine Peso = 0.07459 Malaysian Ringgit
1 Philippine Peso = 0.22915 Namibian Dollar
1 Philippine Peso = 6.87536 Nigerian Naira
1 Philippine Peso = 0.59554 Nicaragua Cordoba
1 Philippine Peso = 0.14884 Norwegian Krone
1 Philippine Peso = 2.01652 Nepalese Rupee
1 Philippine Peso = 0.02629 New Zealand Dollar
1 Philippine Peso = 0.00739 Omani Rial
1 Philippine Peso = 0.0192 Panama Balboa
1 Philippine Peso = 0.06176 Peruvian Nuevo Sol
1 Philippine Peso = 0.06241 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.21836 Pakistani Rupee
1 Philippine Peso = 0.06459 Polish Zloty
1 Philippine Peso = 106.04187 Paraguayan Guarani
1 Philippine Peso = 0.0699 Qatar Rial
1 Philippine Peso = 0.07223 Romanian New Leu
1 Philippine Peso = 1.16816 Russian Rouble
1 Philippine Peso = 16.22066 Rwanda Franc
1 Philippine Peso = 0.07202 Saudi Arabian Riyal
1 Philippine Peso = 0.14768 Solomon Islands Dollar
1 Philippine Peso = 0.25792 Seychelles Rupee
1 Philippine Peso = 0.34667 Sudanese Pound
1 Philippine Peso = 0.161 Swedish Krona
1 Philippine Peso = 0.02513 Singapore Dollar
1 Philippine Peso = 0.01349 St Helena Pound
1 Philippine Peso = 0.42646 Slovak Koruna
1 Philippine Peso = 146.53351 Sierra Leone Leone
1 Philippine Peso = 10.79316 Somali Shilling
1 Philippine Peso = 380.06338 Sao Tome Dobra
1 Philippine Peso = 0.16804 El Salvador Colon
1 Philippine Peso = 9.89015 Syrian Pound
1 Philippine Peso = 0.22917 Swaziland Lilageni
1 Philippine Peso = 0.599 Thai Baht
1 Philippine Peso = 0.04602 Tunisian Dinar
1 Philippine Peso = 0.04292 Tongan paʻanga
1 Philippine Peso = 0.07736 Turkish Lira
1 Philippine Peso = 0.12961 Trinidad Tobago Dollar
1 Philippine Peso = 0.56365 Taiwan Dollar
1 Philippine Peso = 43.7488 Tanzanian Shilling
1 Philippine Peso = 0.50259 Ukraine Hryvnia
1 Philippine Peso = 70.84694 Ugandan Shilling
1 Philippine Peso = 0.0192 United States Dollar
1 Philippine Peso = 0.54158 Uruguayan New Peso
1 Philippine Peso = 154.65719 Uzbekistan Sum
1 Philippine Peso = 1139.831 Venezuelan Bolivar
1 Philippine Peso = 437.43038 Vietnam Dong
1 Philippine Peso = 2.00538 Vanuatu Vatu
1 Philippine Peso = 0.04922 Samoa Tala
1 Philippine Peso = 10.16881 CFA Franc (BEAC)
1 Philippine Peso = 0.05185 East Caribbean Dollar
1 Philippine Peso = 10.16881 CFA Franc (BCEAO)
1 Philippine Peso = 1.83983 Pacific Franc
1 Philippine Peso = 4.79931 Yemen Riyal
1 Philippine Peso = 0.2292 South African Rand
1 Philippine Peso = 99.66391 Zambian Kwacha
1 Philippine Peso = 6.95026 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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