March 27, 2017, 12:39 pm
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1 Philippine Peso = 0.07295 UAE Dirham
1 Philippine Peso = 2.48788 Albanian Lek
1 Philippine Peso = 0.03556 Neth Antilles Guilder
1 Philippine Peso = 0.3095 Argentine Peso
1 Philippine Peso = 0.02607 Australian Dollar
1 Philippine Peso = 0.03556 Aruba Florin
1 Philippine Peso = 0.03973 Barbados Dollar
1 Philippine Peso = 1.59217 Bangladesh Taka
1 Philippine Peso = 0.03602 Bulgarian Lev
1 Philippine Peso = 0.00747 Bahraini Dinar
1 Philippine Peso = 33.62574 Burundi Franc
1 Philippine Peso = 0.01986 Bermuda Dollar
1 Philippine Peso = 0.02782 Brunei Dollar
1 Philippine Peso = 0.13667 Bolivian Boliviano
1 Philippine Peso = 0.06237 Brazilian Real
1 Philippine Peso = 0.01986 Bahamian Dollar
1 Philippine Peso = 1.30066 Bhutan Ngultrum
1 Philippine Peso = 0.20198 Botswana Pula
1 Philippine Peso = 397.69567 Belarus Ruble
1 Philippine Peso = 0.03968 Belize Dollar
1 Philippine Peso = 0.02656 Canadian Dollar
1 Philippine Peso = 0.01978 Swiss Franc
1 Philippine Peso = 13.15634 Chilean Peso
1 Philippine Peso = 0.13692 Chinese Yuan
1 Philippine Peso = 57.86254 Colombian Peso
1 Philippine Peso = 10.93802 Costa Rica Colon
1 Philippine Peso = 0.01986 Cuban Peso
1 Philippine Peso = 2.03496 Cape Verde Escudo
1 Philippine Peso = 0.49851 Czech Koruna
1 Philippine Peso = 3.5151 Djibouti Franc
1 Philippine Peso = 0.13724 Danish Krone
1 Philippine Peso = 0.93127 Dominican Peso
1 Philippine Peso = 2.1644 Algerian Dinar
1 Philippine Peso = 0.28863 Estonian Kroon
1 Philippine Peso = 0.35856 Egyptian Pound
1 Philippine Peso = 0.45093 Ethiopian Birr
1 Philippine Peso = 0.01845 Euro
1 Philippine Peso = 0.04108 Fiji Dollar
1 Philippine Peso = 0.01589 Falkland Islands Pound
1 Philippine Peso = 0.01592 British Pound
1 Philippine Peso = 0.08837 Ghanaian Cedi
1 Philippine Peso = 0.86869 Gambian Dalasi
1 Philippine Peso = 183.55185 Guinea Franc
1 Philippine Peso = 0.1458 Guatemala Quetzal
1 Philippine Peso = 4.10191 Guyana Dollar
1 Philippine Peso = 0.1543 Hong Kong Dollar
1 Philippine Peso = 0.46583 Honduras Lempira
1 Philippine Peso = 0.13612 Croatian Kuna
1 Philippine Peso = 1.34644 Haiti Gourde
1 Philippine Peso = 5.70143 Hungarian Forint
1 Philippine Peso = 264.73977 Indonesian Rupiah
1 Philippine Peso = 0.07242 Israeli Shekel
1 Philippine Peso = 1.29991 Indian Rupee
1 Philippine Peso = 23.46047 Iraqi Dinar
1 Philippine Peso = 644.02066 Iran Rial
1 Philippine Peso = 2.20501 Iceland Krona
1 Philippine Peso = 2.54927 Jamaican Dollar
1 Philippine Peso = 0.01405 Jordanian Dinar
1 Philippine Peso = 2.21154 Japanese Yen
1 Philippine Peso = 2.04112 Kenyan Shilling
1 Philippine Peso = 1.37288 Kyrgyzstan Som
1 Philippine Peso = 78.68693 Cambodia Riel
1 Philippine Peso = 9.14978 Comoros Franc
1 Philippine Peso = 17.87843 North Korean Won
1 Philippine Peso = 22.29479 Korean Won
1 Philippine Peso = 0.00604 Kuwaiti Dinar
1 Philippine Peso = 0.01629 Cayman Islands Dollar
1 Philippine Peso = 6.28526 Kazakhstan Tenge
1 Philippine Peso = 163.01152 Lao Kip
1 Philippine Peso = 29.90465 Lebanese Pound
1 Philippine Peso = 3.01549 Sri Lanka Rupee
1 Philippine Peso = 1.78784 Liberian Dollar
1 Philippine Peso = 0.24851 Lesotho Loti
1 Philippine Peso = 0.06056 Lithuanian Lita
1 Philippine Peso = 0.01233 Latvian Lat
1 Philippine Peso = 0.02811 Libyan Dinar
1 Philippine Peso = 0.19785 Moroccan Dirham
1 Philippine Peso = 0.38468 Moldovan Leu
1 Philippine Peso = 1.12515 Macedonian Denar
1 Philippine Peso = 27.19507 Myanmar Kyat
1 Philippine Peso = 48.70878 Mongolian Tugrik
1 Philippine Peso = 0.15892 Macau Pataca
1 Philippine Peso = 7.09178 Mauritania Ougulya
1 Philippine Peso = 0.69785 Mauritius Rupee
1 Philippine Peso = 0.30671 Maldives Rufiyaa
1 Philippine Peso = 14.24096 Malawi Kwacha
1 Philippine Peso = 0.3761 Mexican Peso
1 Philippine Peso = 0.08802 Malaysian Ringgit
1 Philippine Peso = 0.24708 Namibian Dollar
1 Philippine Peso = 6.25745 Nigerian Naira
1 Philippine Peso = 0.58244 Nicaragua Cordoba
1 Philippine Peso = 0.16898 Norwegian Krone
1 Philippine Peso = 2.0729 Nepalese Rupee
1 Philippine Peso = 0.02831 New Zealand Dollar
1 Philippine Peso = 0.00765 Omani Rial
1 Philippine Peso = 0.01986 Panama Balboa
1 Philippine Peso = 0.06437 Peruvian Nuevo Sol
1 Philippine Peso = 0.06286 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.08244 Pakistani Rupee
1 Philippine Peso = 0.0787 Polish Zloty
1 Philippine Peso = 111.14024 Paraguayan Guarani
1 Philippine Peso = 0.07233 Qatar Rial
1 Philippine Peso = 0.08402 Romanian New Leu
1 Philippine Peso = 1.13951 Russian Rouble
1 Philippine Peso = 16.2352 Rwanda Franc
1 Philippine Peso = 0.07449 Saudi Arabian Riyal
1 Philippine Peso = 0.15454 Solomon Islands Dollar
1 Philippine Peso = 0.26917 Seychelles Rupee
1 Philippine Peso = 0.13244 Sudanese Pound
1 Philippine Peso = 0.17566 Swedish Krona
1 Philippine Peso = 0.02783 Singapore Dollar
1 Philippine Peso = 0.0159 St Helena Pound
1 Philippine Peso = 0.44112 Slovak Koruna
1 Philippine Peso = 142.70957 Sierra Leone Leone
1 Philippine Peso = 10.90584 Somali Shilling
1 Philippine Peso = 452.14739 Sao Tome Dobra
1 Philippine Peso = 0.17327 El Salvador Colon
1 Philippine Peso = 10.23004 Syrian Pound
1 Philippine Peso = 0.24791 Swaziland Lilageni
1 Philippine Peso = 0.68872 Thai Baht
1 Philippine Peso = 0.04503 Tunisian Dinar
1 Philippine Peso = 0.04577 Tongan paʻanga
1 Philippine Peso = 0.0722 Turkish Lira
1 Philippine Peso = 0.13328 Trinidad Tobago Dollar
1 Philippine Peso = 0.60552 Taiwan Dollar
1 Philippine Peso = 44.25904 Tanzanian Shilling
1 Philippine Peso = 0.53754 Ukraine Hryvnia
1 Philippine Peso = 71.25546 Ugandan Shilling
1 Philippine Peso = 0.01986 United States Dollar
1 Philippine Peso = 0.55781 Uruguayan New Peso
1 Philippine Peso = 70.42114 Uzbekistan Sum
1 Philippine Peso = 0.19815 Venezuelan Bolivar
1 Philippine Peso = 451.90703 Vietnam Dong
1 Philippine Peso = 2.11462 Vanuatu Vatu
1 Philippine Peso = 0.05075 Samoa Tala
1 Philippine Peso = 12.09416 CFA Franc (BEAC)
1 Philippine Peso = 0.05364 East Caribbean Dollar
1 Philippine Peso = 12.176 CFA Franc (BCEAO)
1 Philippine Peso = 2.18852 Pacific Franc
1 Philippine Peso = 4.96524 Yemen Riyal
1 Philippine Peso = 0.24804 South African Rand
1 Philippine Peso = 103.08899 Zambian Kwacha
1 Philippine Peso = 7.18911 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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