Author: Business News Asia

Movers and shakers of the Philippine startup community, innovators and investors, and global and national leaders are set to gather for the sixth edition of the tech-famous Geeks On A Beach (GOAB) international conference on November 22 to 24 at the renowned Panglao Island in Bohol, Philippines. Spearheaded by GeeksPH and co-organized by the Department of Information and Communications Technology (DICT), GOAB will be a bold exclamation mark to cap the 2023 Philippine Startup Week events to be held nationwide. About 500 participants are expected to discuss at GOAB the trends and forecasts on tech, startup and design, with conversations…

Subic Bay Freeport – True to its mandate of utilizing land areas efficiently, the Subic Bay Metropolitan Authority (SBMA) has taken over three more properties inside this premier Freeport on Tuesday. According to SBMA Chairman and Administrator Jonathan D. Tan, the agency took over two buildings from Parabion, Inc. at the Cubi Triboa District within the Subic Bay Freeport Zone, adding that the area has a size of 1,176 square meters. “The company has committed contractual defaults that prompted the SBMA to take over their properties. One is failure to comply with development commitments, and two for non-payment of lease…

Are you a major player or a start-up in the bakery industry? Would you like to grow your business? If your answer is yes, you must participate in the upcoming Bakery World 2023. The biggest Bakery and Food Exhibit in the Visayas is scheduled on September 14-16, 2023 at the Waterfront Cebu City Hotel and Casino. Organized by the Mandaue Chamber of Commerce and Industry (MCCI), Bakery World 2023 will provide industry stakeholders, including start-ups and homegrown, with the latest trends in ingredients, equipment, and technology. The exhibition is part of the annual Mandaue Business Month. MCCI President Kelie Ko,…

Subic Bay Freeport – Nidec Subic Philippines Corporation will soon be opening approximately 5,000 jobs from its expansion here in Subic Bay Freeport. This was disclosed by Nidec President Takeshi Yamamoto in a simple awarding ceremony of the Certificate of Registration (COR) with Incentives under the CREATE law to Japanese company Nidec Subic Philippines Corporation for its ₱4.2-billion expansion project. While Nidec Subic currently has a workforce of 622 employees, the company’s expansion project is expected to generate close to 5,000 job opportunities until the last incentivized year. Yamamoto proudly shared that the company chose Subic Bay Freeport for its…

The concept of a tax haven has intrigued and confounded financial experts, policy makers, and even video game enthusiasts who explore virtual economies in games like World of Warcraft. However, when it comes to real-world tax strategy, the term “tax haven” often carries a whiff of secrecy and cunning financial engineering. One name that frequently pops up in this context is Malta. Known for its stunning beaches and rich history, Malta has also gained attention for its financial regulations. But is this Mediterranean archipelago really a tax haven? Let’s delve into the complexities to find out. Background: What is a…

Cebuano moviegoers were few of the firsts to watch the much-anticipated reboot of Teenage Mutant Ninja Turtles in SM Seaside City Cebu cinema. Premiered at the Large Screen Format cinema, members of the media, social media influencers, bloggers, Cebuano personalities, and SM Cinema partners were treated to the Gala Premiere of Teenage Mutant Ninja Turtles: Mutant Mayhem. The film follows the Turtle brothers as they work to earn the love of New York City while facing down an army of mutants. In “Teenage Mutant Ninja Turtles: Mutant Mayhem”, after years of being sheltered from the human world, the Turtle brothers…

Globe, a digital platform in the Philippines with major interests in telecommunications, financial technology, virtual healthcare, digital marketing solutions, data insights, corporate venture building, and climate technology, announced that it has achieved today the fourth closing of 113 towers sold to Frontier Tower Associates Philippines Inc. (Frontier Towers) with a total cash consideration of ~₱1.4 billion. This amount reflects the value of the tower assets which are composed of 77% ground-based towers and 23% rooftop towers located in Luzon, Visayas and Mindanao. Globe already received around ~₱26.6 billion from Frontier Towers to date, as they gained ownership and management rights…

Gaisano-led Metro Retail Stores Group Inc. (MRSGI) is set to open its newly branded neighborhood mini-mart in Pearl Plaza, Lancaster New City in Barangay Navarro, General Trias, Cavite on August 22. The Metro Value Mart Lancaster is well positioned to give General Trias communities convenient access to complete basic and affordable goods and groceries. This mini-mart format was developed in response to consumers’ evolving preference to shop closer to home for their basic daily needs. The Metro Value Mart is ready to serve with ample parking and easy public transport access for the residents in the 15 barangays near Lancaster…

Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Jonathan D. Tan and mayors of the eight local government units (LGUs) adjacent to this free port forged strong partnerships as the Subic agency formally turned over revenue shares for localities contiguous to and affected by the operations of this premier freeport. LGU shares are derived from the 2% of the 5% corporate taxes paid by Subic Bay Freeport-registered enterprises from January to June 2023, which amounted to ₱207.65 million. Less net retention amount of Php4.62 million, LGU shares in the amount of ₱203 million were turned over by Tan for the…

Ahead of the country’s release date on August 30, SM Cinema, SM City Cebu and Columbia Pictures invited guests – media, bloggers, content creators, influencers, partners, and other Cebuano personalities, were the first few to watch the special screening earlier today at the IMAX Theatre. The upcoming live-action movie is based on the hit Playstation driving simulation, Gran Turismo. Based on the true story of Jann Mardenborough, the film is the ultimate wish fulfillment tale of a teenage Gran Turismo player whose gaming skills won a series of Nissan competitions to become an actual professional racecar driver. Witness the inspiring…

In an era of rapid digital transformation, 917Ventures stands as a beacon of innovation, collaboration, and opportunity in the Philippine tech industry. As the country’s largest corporate venture builder, the company has become an employer of choice for both fresh and seasoned tech talents seeking to build their careers and contribute to uplifting Filipino lives. A defining feature of 917Ventures is its unique set of work principles known as the “917V Code” or 5 Cs, guiding the company’s commitment to investing in its people, forming the heart of its culture: ● Collaborate – Encouraging cross-functional collaboration to drive innovation and…

Globe, a digital platform in the Philippines with major interests in telecommunications, financial technology, virtual healthcare, digital marketing solutions, data insights, corporate venture building, and climate technology, announced that it has achieved today the fourth closing of 113 towers sold to Frontier Tower Associates Philippines Inc. (Frontier Towers) with a total cash consideration of ~₱1.4 billion. This amount reflects the value of the tower assets which are composed of 77% ground-based towers and 23% rooftop towers located in Luzon, Visayas and Mindanao. Globe already received around ~₱26.6 billion from Frontier Towers to date, as they gained ownership and management rights…

Digital solutions platform Globe is refocusing its E-Waste Zero Program to mobile and broadband devices in response to global industry trends on electronic waste circularity. This shift allows Globe to concentrate on reducing its value chain emissions (GHG Scope 3) and maximize its impact on e-waste circularity. Starting September 1, 2023, Globe’s E-Waste Zero Program will focus its attention towards items that Globe distributes to the market, including old mobile phones, tablets, wearables (e.g., smart watch), broadband devices (e.g., routers, modems), and their peripherals (e.g., chargers, adapters). “As a sustainability champion, Globe takes the lead in fostering circularity when it…

Globe Group, a leading telecommunications company in the Philippines, announced its second quarter and first half 2023 financial results, displaying healthy growth in its top-line figures. The company reported record revenues of ₱80.4 billion for the first half of 2023, marking a 2% increase year-over-year (YoY), while its EBITDA remained flat YoY at ₱40.5 billion. One of the standout contributions was from Globe’s fintech arm, Mynt, which now contributes 5% of Globe Group’s net income before tax. This comes as Mynt continues to outperform expectations, demonstrating a strong user base and growth in profitability. A highlight of the report was…

Fiber broadband and technology provider Converge ICT Solutions Inc. sustained the growth in its residential subscriber base while maintaining robust growth for its enterprise business, especially for small and medium enterprises (SMEs), to achieve an 8% revenue growth to P17.4 billion in the first half of the year. Total net subscriber additions for residential customers reached 92,000 during the first six months, growing by 5% compared to the same period last year. For the second quarter alone, there were 49,000 residential net additions. The prepaid fiber internet subscribers reached more than 54,000 as of end-June, nearly doubling compared to end-March…

VisMin developer Cebu Landmasters Inc. (CLI) recorded a robust surge in its consolidated net income in the first half of 2023, rising 32% to P2.1 billion from P1.6 billion in the previous year. The listed company’s net income to parent also drove a solid 9% increase to P1.68 billion from P1.55 billion in H1 2022. The growth in earnings was due to the solid results across all revenue streams pushing CLI’s consolidated revenue to increase by 23% to P9.15 billion, up from P7.36 billion last year. This is supported by higher construction progress and take-up of new launches that also…

Salesforce, the global leader in CRM, today announced the appointment of Rain Hu as Country Leader for Singapore and Taiwan, effective immediately. An accomplished entrepreneurial leader in the technology industry, Rain is responsible for leading Salesforce’s team and business growth in Singapore and Taiwan. She will also ensure that Salesforce delivers on the values of trust, customer success, innovation, equality and growth for employees, customers, partners and communities in both markets. Rain is based in Singapore. Rain brings with her close to 20 years of experience in the enterprise software sector and proven results in transforming and scaling businesses in…

Global venture capital firm Antler today announced the appointment of Frank Kang as Associate Partner for Malaysia. This senior-level appointment further strengthens Antler’s commitment to investing in early-stage startups and backing exceptional founders in the region. Frank will also be taking the role of Country Head to spearhead the company’s investment strategy and operations in Malaysia. Leveraging his extensive entrepreneurial experience across various industries, Frank will play a pivotal part in empowering Malaysian founders to think globally and scale their businesses beyond borders. At present, Antler is one of the most active early-stage investors globally and has invested in over…

The Mandaue Chamber of Commerce and Industry (MCCI) promotes a collaborative environment among members through the holding of the Business Connect on August 7, 2023, at the Oakridge Horizon, Oakridge Business Park in Mandaue City. Ms. Marvey Alcantara, Uratex director for Vismin and co-chair of Business Connect, explains that the chamber would like to connect members so they could get their requirement for services and products from within the chamber. “Networking is one of the activities requested by members. MCCI members come from diverse industries,” Ms. Alcantara said. She added that there are advantages to having a collaborative environment, supportive…

Cementing its network supremacy, Globe has retained its acclaim as the Most Reliable Mobile Network in the Philippines five times in a row by Ookla®, the global leader in internet testing and analysis. This achievement is based on analysis by Ookla® of Speedtest Intelligence® data, which showed that Globe won in reliability based on Q2 2022, Q3 2022, Q4 2022, Q1 2023, and Q1-Q2 2023. Its latest win covering Q1-Q2 2023 showed that Globe had the highest Consistency Score™ of 83.64% and was the most available all-technology mobile network at 92.63%. Reliability is earned by the mobile operator who achieves…