Maniolas

A large patch of perfectly manicured asphalt, a couple of cult classics from both East and West, and more rubber than a Rolling Stones after-party, was all that Bridgestone brought to its launch of the new Potenza Adrenalin RE003. But boy, was it enough to wake up the neighbors. On the menu was a 2015 WRX and the Golf GTi wearing a mixed collection of RE002s, RE003s, and some of the competitor’s tires that they had the class to file off the markings on the sidewalk to avoid embarrassment. They staged it all at the Performance Driving Center in sunny Gold Coast in Australia and had just one simple brief: drive. Sure there were some parameters, like suggested speeds, etc. but, in essence, it was quite simply designed to feel everything for yourself. Let me just say before I numb your brain with technical quotes from the PDF files we received on a thumb drive that this is the way to launch a performance tire. Period. Anything more is like trying to explain dance with algebra. A good tire can be felt, and that doesn’t happen in powerpoint. Needless to say there’s a ton of new technology in the RE003, but I run the risk of us both losing all feeling in our left side and slipping into a silica-based coma if I tried to explain it. Unless of course you’re a competitor. So to put it as simply as possible, the RE003 promises three key improvements: responsive and precise Read More …

MANILA, Philippines – The Department of Trade and Industry (DTI)  is encouraging small and medium enterprises (SMEs)  to improve the quality of their products and comply with higher standards to become more competitive locally and overseas. In a statement yesterday, the DTI said the  participation  of SMEs in Sikat Pinoy fairs is one way for these businesses to become familiar with superior product standards. “Aside from exposing SMEs to national buyers or large companies to get big orders, we expose them to the products of the other enterprises,” DTI Secretary Gregory Domingo said. Late last month, the DTI held the Sikat Pinoy National Food Fair which showcased food products from all over the country. The fair had 150 exhibitors and featured various products such as meat; fish; processed fruits and vegetables; ingredients, sauces, and condiments; wines and beverages; coffee, tea, and cocoa; bakery products; snacks and confectionaries; organic, herbal and natural products; and food supplements and vitamins. Bureau of Domestic Trade Promotion Director Rhodora Leaño said the department has imposed stringent requirements for Sikat Pinoy exhibitors. Big institutional buyers attending the fair, she noted, have set strict  requirements for their suppliers. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “One of the basic requirements that they (institutional buyers) are seeking from suppliers is the fact that they must have a Food and Drug Administration (FDA) registration. They can be appeased if the supplier has at least filed an application with FDA,” she said. Aside from supplying to institutional buyers, Read More …

MANILA, Philippines – The country’s foreign exchange reserves slightly dipped in March, largely due to payments of maturing obligations by the government as well as the  revaluation adjustments on the gold holdings of the Bangko Sentral ng Pilipinas. Based on preliminary data, the BSP’s gross internal reserves (GIR) stood at $80.4 billion as of the end of March, down from $79.645 billion in the same period last year. The latest GIR figure,  enough to cover 10.5 months worth of imports of goods and payments of services and income, declined by $400 million month on month. The central  bank’s  reserves were also equivalent to 4.9 times the country’s short-term external debt based on original maturity and 3.9 times based on residual maturity. These were partially offset by the government’s net foreign currency deposits and the BSP’s foreign exchange operations and income from investments overseas. Short-term debt based on residual maturity refers to outstanding external debt with original maturity of one year or less, plus principal payments on medium and long-term loans of the public and private sector’s falling due within the next 12 months. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Foreign exchange reserves are foreign assets held or controlled by the country’s central bank. These reserves are made of gold or specific currency.  They can also be marketable securities denominated in foreign currencies like Treasury bills, government bonds, corporate bonds and equities and foreign currency loans.

MANILA, Philippines – The Securities and Exchange Commission (SEC) is urging all publicly listed companies to practice good corporate governance as it seeks to make Philippine firms at par with its Southeast Asian counterparts. In an advisory, the corporate regulator has identified measures on publicly listed companies can uplift their corporate governance practices. “In view of the best corporate governance practices in the Asean Corporate Governance Scorecard, and in light of the commission’s vision to develop a strong governance culture for the Philippines, the commission highly recommends to all publicly-listed companies to adopt best corporate governance practices,” the SEC said. The SEC suggests that the chairman of the board and the chief executive officer (CEO) of a firm should be separate individuals, adding that its chairman should not have been the company’s CEO in the last three years. The corporate regulator also said at least one female independent director should be elected and independent non-executive directors should make up at least 50 percent of the company’s board of directors. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 In terms of financial reports, the SEC said audited financial reports of a company should be released within 60 days from the end of the fiscal year. Notice of annual stockholder’s meeting, meanwhile, should be released at least 28 days before the meeting, it added. SEC chairperson Teresita Herbosa earlier said Philippine listed companies are still behind its Southeast Asian counterparts when it comes to good corporate governance. “Between going beyond what Read More …

The upcoming integration of the Asean Economic Community or AEC beginning December this year is expected to open new and bigger markets and opportunities for Philippine business, but the big question is, are we ready? According to a study conducted by real estate consulting firm Pinnacle, it would seem so. Leading the pack is the local real estate industry, which is investing huge amounts of money in expectation of a bigger demand ahead. Pinnacle noted that the Ayala Land Group is leading the way by increasing its capital expenditure budget to P100 billion this year as compared to only P70 billion last year, or a 43 percent increase. Apart from increasing its usual residential developments, the Ayala Group is also boosting its office, shopping center, and hotel portfolio. It is even embarking on education and hospitals, if I may add. SM Prime meanwhile has disclosed a capex budget for 2015 of P66 billion to open more shopping malls, residential projects, office buildings, and hotels. The SM Group, aside from its malls and condominiums, is also increasing its hotel business. It currently has four hotels and it is targeting to open its Park Inn by Radisson in Clark, Pampanga and Conrad Hotel Manila at the Mall of Asia by the fourth quarter of this year. The study also mentioned the Megaworld Group, which is targeting to invest more than P230 billion until 2018. The group is sustaining its township developments and together with subsidiaries Suntrust Properties, Empire East, and Global Estate Read More …