SM Prime Holdings, Inc. celebrated on July 23 its 30th anniversary as a publicly listed company at the Philippine Stock Exchange underscoring three decades of transformative growth in the Philippine real estate sector. Established in 1994 by visionary Henry Sy, SM Prime has steadfastly pursued its mission to develop world-class shopping, dining, entertainment, residential, and amusement destinations across the Philippines and beyond. Beginning with just four malls, SM Prime has grown into a powerhouse in Southeast Asia’s property sector. Today, its diversified portfolio in the Philippines includes 22 lifestyle cities encompassing 91 residential developments, 86 malls, 22 office towers, 10…
Author: Business News Asia
Business News Asia
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SM Cinema at SM City Cebu has launched The Event Screen, a versatile new offering designed for a wide range of activities including karaoke, private movie screenings, gaming, meetings, and product launches. The Event Screen is equipped with state-of-the-art audio-visual technology to ensure superior sound and picture quality, enhancing every event held in its space. The Event Screen features a screen size of 5.4 meters wide and 3.2 meters high, with a seating distance of 3.7 meters minimum viewing distance and a 68-degree viewing angle. It can accommodate 10 to 20 people, making it suitable for intimate gatherings such as…
The eighth annual Contact Islands 2024 conference, organized by the Contact Center Association of the Philippines (CCAP), has set a new focus this year on enhancing growth and development in provincial areas. The ‘Digital Cities’ initiative aims to foster growth in provincial areas to balance the industry’s concentration in metropolitan zones like Manila and Cebu. This initiative seeks to tap into new talent pools and decentralize the economic benefits more broadly across the country. At least 33 new locations have already been identified as potential digital cities, with 23 of them already having their own roadmap. “We are particularly excited…
Philippine-based automotive battery maker Motolite is looking towards manufacturing lithium batteries in the country on the back of the rising popularity of electric vehicles here. Lithium batteries, specifically lithium-ion batteries, are a critical component in EVs due to their high energy density, long lifespan, and ability to deliver consistent power. “Motolite is definitely looking at manufacturing lithium batteries in the country because we know that there is a need, especially with the popularity of EVs in the Philippines. There might be an announcement this year or in the following years,” said Camille Fabrero, Brand Activation Supervisor at Motolite. Motolite is…
Silverlush Development Group (SLDG), a Manila-based realty, architecture, and material solutions company, has recently showcased its products and services at SM Seaside City Cebu as part of its preparation to expand its services beyond the country’s capital. SLDG said its expansion outside of Manila may still be in its early stages but stressed that it is geared to make globally quality, coveted pieces more accessible in primary business centers of the country. The firm is a subsidiary of Prosperios Pte Ltd, a company based in Singapore. Its expanding portfolio is currently strengthened by properties nestled in well-coveted locations in Pasig…
Magna CMGN Solutions Inc., a key player in the Philippine interior construction materials market, showcased its innovative products and services at PhilConstruct Visayas. The event, held at the Waterfront Cebu City Hotel and Casino, highlighted the company’s evolution from a trading entity to a full-fledged manufacturing and design firm. “Innovation is important. You have to embrace change,” Magna President Marylou Ngo-Ang said in an interview on the event’s opening day. Established in 2003, Magna initially focused on importing raw materials and components. Today, it offers comprehensive fit-out services and manufactures high-quality pre-finished products for building interiors, including ceilings, floor finishes,…
Domestic and international transfer times at the Mactan-Cebu International Airport (MCIA), the country’s second busiest airport, are expected to reduce significantly with the introduction of a transfer system service dubbed Cebu Connect. “This initiative will reduce transfer times significantly – from 90 minutes to 60 minutes for international connections and from 60 minutes to 35 minutes for domestic ones – making travel more seamless and enjoyable for our fellow Filipinos and tourists,” said Cosette V. Canilao, Aboitiz InfraCapital President & CEO. Cebu Connect was launched in collaboration with the Bureau of Immigration, Department of Transportation, Department of Tourism, and the…
A group composed of mostly Philippine-based investors and former consumer brand executives recently acquired 2XU from L Capital Ironman Pte Ltd. 2XU (Pronounced “Two Times You”) is a global leader in high-performance sports compression athleticwear. The transaction officially closed on April 2, 2024, and the terms of the transaction were not disclosed. Founded in Australia in 2005, 2XU is a market leader in premium performance-focused activewear with a specialized emphasis on compression garments. 2XU has its roots in endurance sports, and the product range extends across the full life cycle of athletic performance, focusing on solutions for preparation, performance, and…
Aboitiz Power Corporation is optimistic that its additional 150-megawatt coal-fired power plant in Toledo City will help address the foreseen supply gap in Cebu in 2028. Cebu’s demand for power is expected to outpace the available supply by 2028 and addressing these power supply challenges is crucial in ensuring the province and the region can achieve its economic growth potential, said Ronaldo Ramos, chief operating officer of the AboitizPower Thermal Business Group. The Department of Energy earlier projected that energy demand for Cebu Province will reach around 1,400 MW by 2026 and will outpace supply by 2027 if no new…
The IMAX Theatre at SM City Cebu continues to redefine the movie-watching experience for Cebuanos. Known for its state-of-the-art technology and immersive viewing experience, the IMAX Theatre is the go-to destination for film enthusiasts who seek unparalleled visual and audio quality. This month, moviegoers have the perfect opportunity to witness the magic of “Inside Out 2” in IMAX. The critically acclaimed Pixar film, which takes audiences on an emotional journey through the mind of an 11-year-old girl, is best experienced on the IMAX screen. The theatre’s advanced projection system delivers crystal-clear images with vibrant colors, making the film’s stunning animation…
The Cebu Professional Pickleball Association together with SM Seaside City Cebu announces the opening of Cebu’s first outdoor free-play pickleball court. Located at the upper ground level, Tower Garden, Cube Wing, this new facility is set to become a hub for both seasoned players and newcomers to the sport. Pickleball is a fast-growing sport that combines elements of tennis, badminton, and table tennis. Played on a smaller court with a lower net, it uses paddles and a plastic ball with holes. It’s easy to learn, making it accessible to players of all ages and skill levels. The game begins with…
Food industry executive Felix O. Tiukinhoy Jr. shared insightful business ideas with an enthusiastic crowd of professionals, entrepreneurs and aspiring leaders at the Asian Institute of Management (AIM) Davao Roadshow. The event was held at the TED Library of the Philippine Women’s College of Davao on May 17, 2024. Tiukinhoy, MBM ’76, chairman of the Alumni Association of AIM Inc., is among the accomplished alumni of the prestigious business school who graced the LEAD, INSPIRE, TRANSFORM roadshow. The event sparked a passion for leadership and innovation. Tiukinhoy is the chairman and president of Virginia Foods Inc. and president of the…
Philippine Airlines (PAL) has become the first Asian airline to implement SkyBreathe® OnBoard, a cutting-edge digital solution aimed at increasing fuel savings directly from the flight deck. This initiative is part of a new partnership with OpenAirlines, a leader in fuel management solutions for the aviation industry. The integration of SkyBreathe® OnBoard signifies a major advancement in PAL’s commitment to environmental responsibility and operational efficiency. This user-friendly technology employs advanced algorithms and real-time data to assist pilots with fuel-saving measures during flights. SkyBreathe® OnBoard is a component of the SkyBreathe® eco-flying platform, which is currently utilized by 66 airlines worldwide…
CEBU CITY, Philippines — Cebu Landmasters, Inc. (CLI), a premier developer in Visayas and Mindanao, officially opened the first building of The Pad Co-Living development on May 8, offering a mix of residential options for both short and long-term stays. Situated in the bustling Banilad area, The Pad Co-Living is tailored to accommodate working professionals, students, and travelers seeking an affordable and strategically located residence. Building A, the first of two buildings in the development, features 156 rooms with configurations ranging from solo to family occupancy. Each room includes private toilet facilities, with family rooms additionally offering a dining and…
CEBU, Philippines — This June, the Cebu Business Month (CBM) 2024 celebrates its 28th anniversary with a strong focus on inspiring entrepreneurs, fostering collaboration, and catalyzing growth. Under the theme “Padayon Cebu,” the event organized by the Cebu Chamber of Commerce and Industry (CCCI) is dedicated to empowering micro, small, and medium-sized enterprises (MSMEs) in the region. The Cebu Business Month has evolved significantly since its inception as “Cebu Business Day” in 1991. It gained national recognition in 1996 when then-President Fidel V. Ramos declared June as “Cebu Business Month” through Presidential Proclamation No. 748. This year’s CBM aims to…
Filipino Homes, one of the leading real estate solutions providers in the Philippines based in Cebu, announced the expansion of its Global Partners initiative to seven new countries following a successful launch in Dubai. The move aims to assist Overseas Filipino Workers (OFWs) with property investments and avoid potential scams. Anthony Gerard O. Leuterio, founder and CEO of Filipino Homes, detailed the expansion plans. “We are aggressively opening in Bangkok, United Arab Emirates, Japan, Singapore, Malaysia, the United States, and Europe,” Leuterio said. The initiative is designed to provide OFWs access to accurate information about property investments in the Philippines.…
Vértere Global Solutions, Inc., an all-Filipino IT workforce solutions provider, along with its direct placement arm A7 Recruitment Corporation (ARC), recently launched their specialized staffing services in Cebu City with a roadshow event titled “Revitalize Your Approach to Talent Management” held at the Seda Central Bloc on April 17, 2024. The event gathered over 70 participants from various industries, including IT, telecommunications, financial outsourcing, and more, showcasing Vértere and ARC’s expertise in hiring, training, and deploying staff. These companies offered a dynamic discussion on overcoming the talent shortage and adapting to the candidate-driven market conditions prevalent in today’s IT industry.…
CEBU CITY, Philippines — The world’s largest book sale, Big Bad Wolf, returns to Cebu City today, April 26, 2024, promising an extensive selection of books and unique promotional deals that are set to delight bibliophiles across Cebu and nearby provinces. Running from April 26 to May 5 at SM Seaside City Cebu, the event transforms the venue into a vibrant hub for readers of all ages. This year’s book sale features a Buy-5-Get-1 promo and a chance to win up to P10,000 in vouchers, enhancing the shopping experience for attendees. Additionally, the sale includes inflatable play areas for children,…
SM Prime Holdings, Inc. (SMPH), the leading integrated property developer in the Philippines, marks its 30th anniversary as a publicly listed company with the announcement of its highest-ever recorded income and a ₱100 billion investment for its partners, stakeholders, and communities they operate in. With eyes set on the future, SM Prime reaffirms its position as a catalyst for economic development and community advancement. During the Annual Stockholders Meeting held on April 23, 2024, SM Prime announced its highest-ever recorded income, reaching PHP40 billion in consolidated net income, marking a 33% increase from 2022. Additionally, the company’s revenues surged by…
CEBU CITY, Philippines — The Big Bad Wolf Book Sale, acclaimed as the world’s largest book sale, is set to dazzle Cebu City once again from April 26 to May 5, 2024, at SM Seaside City Cebu. The event will offer an extensive range of books spanning multiple genres, aimed at drawing a large crowd of literature enthusiasts from the Visayas region. This year’s Big Bad Wolf event introduces enticing promotions such as the “Buy 5, Get 1 Free” deal, alongside a chance to win vouchers up to P10,000, enhancing the shopping experience for attendees. As part of the festivities,…