Globe fundraiser is Telecom Deal of the Year
Globe Telecom bagged the “2021 Telecom Deal of the Year” from The Asset after foreign investors swarmed its $600 million bond issuance when it returned to the offshore debt market in July last year.
In support of the importance of infrastructure to the region’s future, the publication honors institutions and deals that make a difference every year. The Asset Triple A Infrastructure Awards recognize the Public-Private Partnership (PPP) role in filling the gap between the immense requirements for infrastructure in Asia.
Globe issued 10- and 15-year US dollar-denominated senior notes in July last year to fund its capital expenditures, general corporate requirements as well as refinance its obligations. The bond had an oversubscription of 6.5 times resulting in a tightening of its spreads.
The fundraising activity enabled the company to diversify its funding sources and lengthen its debt maturity profile. It last tapped the international debt market in 2004.
A portion of the proceeds was earmarked for the company’s unprecedented P70 billion capital expenditures this year. Globe’s goal is to build 2,000 cell towers and roll out one million fiber-to-the-home lines to deliver first-world internet connectivity for the Filipinos amid the Covid-19 pandemic.
Shang events
Shangri-La Plaza marks Philippine Independence with a month-long celebration of everything Filipino — from food, fashion, to heritage and culture.
Lasap Pinoy from June 12 to 30 offers well-loved dishes at Bagnet Boy, Bread Broth & Beyond, Corazon, Davao Tuna Grill, Duck & Buvette, Fiesta Alamexa, Figaro, Max’s, Mesa, Pancake House, Razon’s, Pages Deli, Reyes BBQ, and Via Mare.
Gawang Kamay Fair will run from June 17 to 20 at Level 2 Grand Atrium.
Our Very Own by Rustan, Rustan’s Department Store, Pink Manila, R.A.F., K & Company, Plains and Prints, Mico Boutique, and Details are part of the Istilong Pinoy Fair that runs from June 24 to 27 at the Grand Atrium.
Dad’s Day Giveaway raffle from June 15 to 30 gives shoppers a chance to win a La-Z Boy chair.
SBCorp. new director
The Small Business Corp. (SBCorp) announced the appointment of Voltaire Magpayo to the board of directors. This brings the number of board members to eight.
Magpayo joins SBCorp with over 10 years of experience in strategic business planning, supply and value chain management, and financial management.
Magpayo is an award-winning entrepreneur, a business mentor, and a strong advocate for Filipino MSMEs. He obtained his Bachelor of Science in Accounting from the San Beda University, and his Master’s Degree in Applied Business Economics from the University of Asia and the Pacific. He is a certified franchise executive, and was previously a consultant on business development at various government agencies.
UBX Seekcap, Radiowealth tie-up
UBX SeekCap, the Philippines’s first same-day approval lending marketplace, partners with leading financial services provider, Radiowealth Finance which offers business loans for working capital, franchising, machinery and heavy equipment, and business expansion.
Through its partnership with SeekCap, Filipino businesses can easily apply for a Radiowealth business loan online, with loan amounts ranging from P 50,000 to as high as P 5,000,000 payable for up to 12 months.
Radiowealth also provides access and a huge opportunity for micro businesses such as the sari-sari stores as a loan application only requires a valid government ID, proof of business registration (barangay or mayor’s permit), and proof of income (sales receipts or sales logbook).
Aside from providing a simple and convenient loan application experience, SeekCap compliments Radiowealth’s strategy to leverage digital platforms to promote financial inclusion and extend financial assistance to Filipino businesses at a time when it is needed the most. Through SeekCap’s application programming interfaces (APIs), Radiowealth is able to further automate their loan approval processes.
PH institutions recipient of Airbnb Community Fund
Airbnb created the Airbnb Community Fund to distribute $100 million over 10 years to organizations that are strengthening communities around the world, including $10 million distributed throughout 2021.
The inaugural grant recipients of the Airbnb Community Fund includes over 150 organizations from more than 40 countries and six continents, including the Philippines.
These organizations are working to meet unprecedented needs brought about by the pandemic, and focusing on this year’s themes: COVID-19 relief, economic empowerment, and education.
The first four Philippine beneficiaries included four non-government organizations: Mercy in Action, Childhope Philippines Foundation, Inc., Haligi ng Bata, Inc. and Reach Out and Feed Philippines.
These organizations aim to empower and better the welfare of Filipino families and children through several ongoing efforts.
Uniqlo initiatives
Fast Retailing Co., Ltd., in partnership with UNHCR, the UN Refugee Agency, marked World Refugee Day on June 20 by announcing the supply of two million UNIQLO AIRism masks, in addition to an initial one million masks announced earlier in the year, as well as a donation of US$100,000 to help UNHCR respond to the coronavirus pandemic with essential support and services, including assistance to child refugees deprived of educational opportunities due to COVID-19.
Fast Retailing will also run a communication campaign in 22 markets across the world, leveraging social media posts and a special website to raise awareness of refugees and the company’s global partnership with UNHCR.
Refugees around the world continue to be affected by the COVID-19 pandemic. This latest quantity of AIRism masks will be used for displaced persons in Afghanistan, Bangladesh, Iran, Myanmar, and Pakistan. Together with the one million masks provided since February for five countries in South America and the Middle East, Fast
Retailing is supplying a total of three million masks through UNHCR to be distributed mainly to vulnerable children.
The monetary donation will help UNHCR respond to the coronavirus pandemic with essential support and services, including for child refugees who have been deprived of educational opportunities due to COVID-19 by helping them commute to school, repairing and constructing school buildings and sanitary facilities, and purchasing textbooks and other much-needed educational supplies.
BDO wins Asset Company of the Year Award
The Trust and Investments Group (TIG) of BDO Unibank was named the Asset Management Company of the Year in the Philippines for the fourth straight year (2018-2021) by The Asset, at the recently held “Triple A Sustainable Investing Awards for Institutional Investor, ETF, and Asset Servicing Providers 2021”.
BDO TIG, which also won the award back in 2016, said the recognition is a testament to its commitment to service the clients even during the health crisis.
“Our ability to adapt to the ever-changing environment through the use of new channels and the creation of new processes for the new normal allowed us to service our clients despite the limited mobility due to the pandemic. (M)ost important… was to keep BDO TIG visible to assure our clients that we are in full control of their investments,” said BDO TIG senior vice president and head Rafael Ayuste Jr.
At the end of 2020, BDO’s consolidated trust assets under management (AUM) amounted to P1.63 trillion, up 22 percent from the previous level of P1.34 trillion. Of this AUM, P1.12 billion is managed by BDO TIG, while the remaining P505 billion is managed by another BDO subsidiary, BDO Private Bank.
At the height of the pandemic, BDO TIG was able to quickly innovate and adapt to deal with the crisis and its adverse impacts through new initiatives allowing for the efficient execution of daily operations; direct and targeted communication to clients; continuous servicing of clients through the BDO Invest Hotline and BDO Invest Online channels, providing them a safe option to still do their investment transactions.
SMC taps local tailors to produce PPEs
San Miguel Corp. (SMC) packaging unit San Miguel Yamamura Packaging Corp. (SMYPC) has begun local production and distribution of personal protective equipment (PPEs) for the medical sector, tapping community-based tailors and dressmakers to assemble the protective suits, using medical fabric produced in its woven products facility in Malaysia.
For over eight decades now, SMYPC has provided a wide range of packaging solutions to the food, beverage, pharmaceutical, and personal care industries not just in the Philippines, but throughout Asia-Pacific, Australasia, the Middle East, Africa and the United States.
While the business is primarily centered on the production of glass, metal, composites, plastics, PET and corrugated paper packaging, the company also provides services like packaging research and testing, packaging development, graphic design, and contract packaging and trading.
Recognizing the continuing needs of the health care sector, SMYPC developed and is now bringing in material from one of its facilities in Malaysia, which can be used to make PPEs.
The protective wear will be put together by local tailors based in Pasay City, Quezon City and Imus, Cavite.
SMYPC’s PPE offerings include three types, ranging from the bunnysuit, lab coat type, and the jacket with hood and pants.
All are breathable and impermeable, even acquiring recognition from the Hospital of Kuala Lumpur.
