business

LANDBANK, Converge sign P3-B loan to boost internet coverage

September 9, 2021

State-run Land Bank of the Philippines (LANDBANK) signed a P3-billion loan agreement with Converge Information and Communications Technology Solutions, Inc. (Converge) to help provide fast and reliable internet service to more subscribers nationwide. LANDBANK President and CEO Cecilia C. Borromeo alongside Converge CEO Dennis Anthony H. Uy and President Maria Grace Y. Uy led the virtual loan signing ceremony to support the fiber broadband service provider’s continuing terrestrial and subsea domestic network expansion and finance working capital requirements. They were joined by Converge Deputy Chief Finance Officer Christine Renee R. Blabagno and LANDBANK officials, namely Agricultural and Development Lending Sector Officer-in-Charge, Senior Vice President Filipina B. Monje and Corporate Banking Group Head, Senior Vice President Ma. Celeste A. Burgos. Also present during the signing ceremony was Converge Chief Financial Office Advisor Matthias Vukovich. During the virtual ceremony, LANDBANK emphasized the importance of investing in technology as more Filipinos adapt to a digital lifestyle due to the ongoing pandemic. “We are hopeful on this new partnership between LANDBANK and Converge to ensure the delivery of fast and consistent internet services across the country. It is with urgency that we must support more users in adapting to home set-ups for work and education in the new normal. This is also aligned with LANDBANK’s thrust of leveraging on digital innovations to provide uninterrupted, safe, and timely financial solutions to our clients, especially the unbanked and underserved,” said LANDBANK President and CEO Borromeo. Converge CEO Uy expressed his gratitude to LANDBANK for providing an accessible financial channel to expand their fiber footprint nationwide.  “This loan financing brings us one step closer to our goal of connecting the unserved and underserved areas in the country. The available funds will help us reach into untapped markets and really ‘Go Deep’ into existing ones,” said CEO Uy during the virtual loan signing. Converge will utilize the credit support from LANDBANK for its continued network expansion across the country, broadening its distribution reach, and boosting international connectivity. The total loan package from LANDBANK will also include an additional short term loan line as well as a facility for its trade transactions amounting to up to P2 billion. In line with servicing the emerging needs of its clients in the new normal, LANDBANK successfully facilitated 73.5 million transactions amounting to P1.307 trillion through its five major e-banking channels from January to July 2021. This represented comparative year-on-year increases of 12% and 65%, respectively.  As of July 2021, the Bank has also facilitated the opening of more than 1.7 million online accounts through its Digital On-boarding System or DOBS which digitizes the submission of account applications.  LANDBANK also launched recently the DOBS Mobile which facilitates online savings account opening in as fast as 10 to 15 minutes. The LANDBANK DOBS Mobile eliminates the need to line up in branches to open an account, in support of the National Government’s Ease of Doing Business (EODB) initiative, as well as safety protocols imposed to limit COVID-19 infections. LANDBANK also continues to waive fees for inter-bank fund transfers via InstaPay and PESONet for retail clients until September 30, 2021.

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J&T Express and Shopee strengthen ties as they kickstart the holiday season with the biggest Double-Day deals and free shipping vouchers

September 9, 2021

Online shoppers nationwide can now rejoice as leading delivery service PH Global Jet Express Inc. (J&T Express Philippines) and partner e-commerce giant Shopee kickstart the holiday season starting this September with the biggest deals, brand promos, free shipping, and the lowest discounts to date.  Vice President of J&T Express Philippines Zoe Chi said that for the past two years since they partnered with Shopee, the “ber” months have traditionally been the highlight of the shopping season in preparation for the upcoming holidays. With Christmas just around the corner, J&T Express ensures that shopping for essentials and gifts alike for friends and family won’t be hampered by the pandemic with their premium delivery services.   “Filipinos are very generous, which is why when they buy, they don’t just buy for themselves. We are happy and excited to share the holiday spirit by offering discounted vouchers and promos with our e-commerce app partner to make gift-giving happier even during these tough times. We look forward to continuously supporting Shopee on their upcoming campaigns,” Chi added.  Aside from site-wide free shipping during Shopee’s 9.9 Super Shopping Sale and upcoming monthly double-day sales, customers can also avail a 10% discount using J&T Express’ exclusive promo code SHPJT99 with a minimum spend of Php 500.00 and capped at Php 100.00, on September 9 only.  J&T Express is a proud partner of Shopee in helping entrepreneurs and brands express their online business and provide deliveries to customers. Over the years of working together with Shopee, as one of the official delivery couriers of the e-commerce giant, J&T Express has remained dedicated to providing fast and reliable delivery service among Shopee customers and sellers. J&T Express also offers free pick-up service within Metro Manila so Filipinos, especially small businesses, can still send essentials to their customers and remain operational despite the strict lockdown period. Customers can choose from scheduling their free pick up online, mobile application, or phone call. To know more about the company’s services, visit https://www.jtexpress.ph/. 

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Start a Robinsons Bank UITF investment for just Php 1,000!

September 3, 2021

Being financially-savvy has now become a trend among Filipinos. Many are challenging themselves to save up for the future, whether it’s to prepare themselve for when they start a family, buy a new house, start their businesses and more.  However, Filipinos are now looking for better and more efficient ways to grow their savings. Investing is the road less traveled for numerous reasons: 1) it would require a big capital; 2) Zero to minimal knowledge; and 3) Lack of time to manage the fund.  If you’re one of the many Filipinos who has these same worries, today’s the day it will all go away.  Robinsons Bank thru its Trust and Investments Group has now launched the easiest and most affordable investment product in the market! Start your investment for as low as Php 1,000. There are three UITF products you can choose from, each suited for a different risk appetite: 1) Payday Money Market Fund, 2) Equity Index Feeder Fund, 3) Equity Opportunity Feeder Fund.  You don’t have to worry about the time it will take to manage your investment because RBank’s Trust professionals will be doing the work for you.  Payday Money Market Fund: Say #YEStoPaydayInvesting! The Robinsons Bank Payday Money Market Fund is a low-risk investment that is perfect for first-timers. With this fund, your money will have the potential to earn from investments in bank deposits, government-issued securities, and others. If you have a conservative risk appetite, this may be the UITF product for you.  You can also have a regular subscription in the Payday Money Market Fund every Payday (15th and 30th of the month)! Learn more: https://bit.ly/RBankPaydayUITF Equity Index Feeder Fund: Invest in the PSEi If you want to explore other investment products and thought of investing in big companies, the Equity Index Feeder Fund can suit you! In this fund, your money can earn by investing in the Top 20 pubicly-listed companies in the Philippine Stock Exchange Index (PSEi). As long as these companies are growing, your funds will also grow. However, since this fund has relatively higher returns, it is also high-risk and suited for aggressive investors.  Learn more about this fund here: https://bit.ly/RBankeiUITF Equity Opportunity Feeder Fund: Get  potentially  higher returns! Last but not the least, maximize your fund’s earning potential by investing in emerging small to mid-sized companies listed in the Morgan Stanley Composite Index (MSCi) through the Equity Opportunity Index Fund. The companies listed here have the potential to grow, which means your investment can also grow with them! This fund aims to have better or higher returns than the MSCi. With higher returns, comes a higher-risk that’s suited for investors with an aggressive risk appetite.  Learn more about this fund here: https://bit.ly/RBankeoUITF  Your Php 1,000 can go a long way by investing in Robinsons Bank’s UITF products. However, to get the best results, always invest in long-term.  Ready to start your investment journey? Send an email to  TrustGroup@robinsonsbank.com.ph or call (02)8702-9546; (02) 8702 -9500 loc 48746, 48744. The Unit Investment Trust Fund is not a deposit and is not insured by the Philippine Deposit Insurance Corporation (PDIC). The returns cannot be guaranteed and historical NAVPU is for illustration of NAVPU movements/ fluctuations only. When redeeming, the proceeds may be less than the original investment and any losses will be solely for the account of the client. The trustee is not liable for any loss unless upon willful default, bad faith, or gross negligence.  Robinsons Bank is the financial services arm of the Gokongwei Group, one of the largest conglomerates in the Philippines. It currently ranks 18th among universal and commercial banks in the country, with assets amounting to Php 151.215 Bn Bn as of December 2020. The Bank is recognized as the Fastest Growing Retail Bank in the Philippines for 2019-2010 by The Global Banking and Finance Review; Fastest Growing Commercial Bank in the Philippines for 2019 and 2020 by the Global Business Outlook; and the Best Commercial Bank in the Philippines for 2020 by the International Business Magazine.

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Bajaj: Ang Bagong Biyahe sa Zamboanga Peninsula

September 3, 2021

Zamboanga Peninsula found its cream of the crop transportation vehicle five (5) years ago – a unique, symmetrically arranged three-wheeler that is powerful, safe, comfortable, and durable in Bajaj RE.  Trimotors, the exclusive distributor of Bajaj Three-wheelers in the Philippines continued its initiative in changing the landscape of the last-mile transportation nationwide by catering to the market’s need for updates and upgrades. With an outstanding availability in 800+ authorized dealer stores and more than 700 widely accessible parts and service shops, Bajaj RE stayed in its position as “Ang No. 1 Three-wheeler” and came through with its new advanced features: Sleek Dashboard w/ MP3 Player, Rear Seat Metal Doors, and Symmetrical Transparent Hood during an online launch last May 2021.  From the usual pampasada - Bajaj RE, Trimotors launched an addition of its three-wheelers through Bajaj Maxima series which offers every Zamboanguenos’ a tool and partner in achieving their business diskarte. This upgrade has bigger and better features powered by 236.2 CC DTS-i engine, Heavy-duty CV Shaft that can carry heavier loads and Dual Front Fork Suspension which continuously absorb shock and harsh motions. The Bajaj Maxima series is available in two (2) different models: The New Bajaj Maxima Z is the best for both transporting passengers and carrying loads due to its flexi-seating advantages with 60:40 foldable seats offering multi-purpose features tagged as “Ang multi-purpose partner sa Negosyo”. And Bajaj Maxima Cargo, a three-wheeler intended for hauling and delivering cargo loads now promises to deliver powerful solutions not just for the SMEs but fleet managers and public servants. Trimotors continue to expand its product categories and market availability through one of its partner dealers, Emcor, Inc. It is also the initiative to simultaneously bring progress to the locals of Western Mindanao. Continue to experience quality and comfort in a much preferred last-mile mobility – Ang Bagong Biyahe in Zamboanga Peninsula with Bajaj Three-wheelers. Know more about Bajaj Three-wheelers and its latest arangkada through www.bajaj.com.ph    ABOUT TRIMOTORS  Trimotors Technology Corporation is the exclusive distributor of Bajaj Three-wheelers here in the Philippines headed by its Executive Vice President and COO, Mr. Raul Jay R. Manglapus III.  Over the years of Trimotors is paving the way to provide the technologically advance three-wheelers through Bajaj RE – “Ang No. 1 Three-wheeler, Bajaj Maxima Z – “Ang multi-purpose partner sa Negosyo” and Bajaj Maxima Cargo – “Delivering Powerful Solutions”.  Bajaj Three-wheelers are widely available nationwide through its over 800 outstanding authorized dealer stores and 700+ parts and service shop to serve you.

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DBM: Php160B funds require President’s approval

July 15, 2021

The Department of Budget and Management (DBM) stated in a recent interview that P160 Billion in project funds marked “for later release” may only be allocated upon the approval of the Office of the President. DBM Secretary Wendel Avisado stated that the department does not arbitrarily withhold funding. “Hindi naman kami pwedeng mag-ipit ng pondo. Ang trabaho namin mag-release (We are not able to withhold funds. The nature of our work is to release),” he said in a radio interview. There are two categories of funds to be released under the General Appropriations Act (GAA). Funds marked “for comprehensive release” may be disbursed upon the authorization of the departments involved; while funds classified as “for later release” need the President’s approval, according to Avisado. “Kapag 'for later release,' may pondo na. Kaya nga lang, walang kontrol ang DBM at kailangan kong i-forward sa Office of the President (If [a fund has been indicated] ‘for later release’, the fund has already been allocated for. However, the DBM has no control [over the release], and I need to forward such to the Office of the President),” said the DBM Secretary. In September of last year, the Office of the Ombudsman also weighed in on DBM’s actions regarding the non-release of non-pandemic funds, which Senator Paniflo Lacson had at the time warned against “setting a precedent for future issuances by DBM”. Several members of the Legislature have spoken on the issue, as the P160 Billion in question is critical to the success of several pandemic response projects to be enacted by several government bodies. Among those who raised concerns were Senate Minority Leader Franklin Drilon, Senate President Pro Tempore Ralph Recto, and Sen. Sonny Angara. Drilon suspected that these funds remain unreleased due to politicking, especially against the backdrop of the incoming 2022 national elections. However, Avisado denied this claim. “Hindi po [ito] nakakabit sa eleksyon dahil ang eleksyon ay next year pa. Ang pondo ay para sa taong ito, 2021, at hindi para sa 2022, (This isn’t connected to the election, because the election takes place next year. The funds in question are for 2021, and not for 2022),” he refuted. Government critics remain skeptical, however, arguing that political campaigning begins far before the “official campaign period” does.

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2GO Travel Offers Free Accommodation Upgrade To Fully Vaccinated Passengers

July 9, 2021

MANILA – Present your vaccination card and instantly get an accommodation upgrade up to business class when you sail with 2GO Travel, the largest premier sea travel provider in the Philippines. Free upgrades are offered to passengers who have been fully vaccinated for COVID-19.     2GO Travel has made it easy to avail of the offer in just three steps! First, passengers must have received their jabs more than or equal to two weeks after having received the second dose in a two-dose series or have been inoculated more than or equal to two weeks after having received a single-dose vaccine. Second, passengers just need to present to front desk their vaccination cards with complete details, first and second dosage dates for double dose vaccines, and first dose date for single-dose vaccine (Johnson and Johnson only), including signature/s of the vaccinator. Last but not the least, 2GO Travel’s front office will facilitate and arrange for transfer of passengers in the upgraded accommodations. Upgrade is on a first come, first served basis, and will only be offered if accommodation is available. The free upgrade is applicable to all 2GO Travel destinations from Batangas to Caticlan and Roxas, including Manila to Bacolod, Cagayan de Oro, Cebu, Coron, Dumaguete, Iloilo, Puerto Princesa, Butuan, Iligan, Ozamiz, Zamboanga, and vice versa. This offer is until August 31, 2021. Enjoy fun and safe travels with 2GO’s new ships, upgraded onboard accommodations and amenities as well as strict health and safety protocols from terminal check-in all the way to boarding the vessel and disembarkation. To book your tickets, please call our hotline (02) 8 528 7000, visit 2GO Travel’s Facebook and Instagram, email travel@2GO.com.ph, or visit any 2GO outlet and SM Business Centers near you!  

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