business

Ertiga Continues to be the Best-seller in Suzuki PH Stable

August 12, 2019

Suzuki Philippines Inc. (SPH), the country’s pioneer subcompact car distributor, closes the first half of 2019 on a high note, posting 14 percent sales growth over the same period last year and climbing to the sixth spot in the local automobile industry ranking and fifth place in the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) ranking.      “We started the year on the right foot and strengthened our efforts in Q2 to reach more Filipino customers. Our aggressive and strategic marketing campaigns are key in pushing up our position both in the Philippine automobile industry and CAMPI rankings. These achievements reflect the Filipinos’ growing trust in our brand and the quality Suzuki cars that we provide. We are more driven now more than ever to bring only quality driving experience in every Suzuki ride,” shared SPH Director and General Manager for Automobile Division Keiichi Suzuki.      Committed to giving quality driving experience to every Filipino, SPH continues to assure the market with best-performance vehicles such as the New Ertiga, Swift, Celerio, Dzire and Vitara. These top-selling Suzuki vehicles collectively contributed 77 percent to total H1 2019 sales.      The top-favorite 7-seater family vehicle Ertiga is still the number one best-selling Suzuki vehicle in this year’s lineup with a 34 percent share of sales. The introduction of the new Ertiga Black Interior ramped up sales even further. Its fuel efficiency and spacious interior complement the elegance and modern style, giving the Ertiga a strong edge over its competitors.      Sporting a fiercer look and boasting maximum functionality, the all-new Ertiga combines strength and elegance in a compact body, allowing Filipino families to go on adventures and seize the day in style.       The upgraded 7-seater MPV features a taller nose and a wide and elegant front grille. The lower roof side extends the head room while providing a more stylish side view. The integrated lower grille and fog lamps add a sense of stability and make the car look edgy. Deeper curves on the side and shoulder and character lines were added to reflect robustness and a stronger presence.       The interior of the all-new Ertiga is designed with sophistication and flexibility in mind. The new steering wheel has a flat bottom for better leg clearance while the gauges are painted with metallic chrome for a sleeker look. The seats have a deep curb with the fabric showing a 3D effect.      The all-new Ertiga offers new comfort features to help make traversing Metro Manila traffic more bearable and pass the time away more pleasantly. The improved MPV has larger passenger legroom with the increased tandem distance of the 3rd row seats. For added relaxation, the third row has more headspace while the seats are designed with a reclining and tilt-down mechanism up to 16 degrees.       For better ventilation and convenience, a rear AC was installed to keep the 2nd and 3rd row passenger comfortable. Small storage spaces are also added all around, including a coin holder, ventilated cup holder, improved center console and door pockets, to accommodate more hand-carry items.      The all-new Ertiga comes in a light yet highly rigid body, thanks to Suzuki’s new generation platform, the HEARTECT. The new frame effectively disperses impact energy to improve safety while reducing noise and vibration.      Another notable feature is the Total Effective Control Technology (TECT), which scatters collision energy across the vehicle frame to mitigate damage to the car and passengers.       “All the upgrades on the new Ertiga are designed to give Filipino riders the confidence to enjoy every adventure knowing they and their family are safe and comfortable. Beyond making technological improvements on our vehicles, our goal is to always ensure that our customers have an optimum driving experience,” added Suzuki.      The all-new Ertiga is priced starting with GA at 728,000 PHP, GL MT 848,000, GL AT 888,000 and GLX at 978,000. It comes in 7 colors: Pearl Glorious Brown, Metallic Magma Gray, Pearl Burgundy Red, Prime Cool Black, Metallic Silky Silver, Pearl Radiant Red and Pearl Snow White      Following Ertiga as a top-selling Suzuki vehicle is the hatchback well-loved by millennials. The Suzuki Swift contributed 13 percent to overall sales for the first half of the year.      The Celerio ranks third among Suzuki’s top-selling vehicles with an 11 percent shares of sales. Powered by a three-cylinder 1.0-liter DOHC engine, the hatchback is available with either a five-speed manual transmission or a Continuous Variable Transmission (CVT), making it the first model in its segment to offer CVT. Its compact design surprises with an interior that provides ample space, legroom and storage for stress-free driving.

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Construction, tourism jobs up for grabs in Tesda’s Oro, Iligan events

August 9, 2019

HUNDREDS of domestic jobs in the construction and tourism industry in Northern Mindanao are up for grabs in two simultaneous job fairs to be spearheaded by the Technical Education Skills and Development Authority (Tesda) on August 25. According to Tesda 10 director Tarhata Mapandi, the twin job fairs dubbed as World Café of Opportunities will be held at Limketkai Event Center (Cagayan de Oro City) and Robinsons Place Iligan. Mapandi said the job fairs are exclusively for alumni of vocational courses only. She said that August 25 was chosen as the date for this year’s event since it is also celebrated as Tech Voc Day. The Department of Labor and Employment (DOLE) will participate in the simultaneous events to provide livelihood opportunities while the Department of Trade and Industry (DTI) will conduct free entrepreneurship trainings. Representatives from the Cooperative Development Authority (CDA) and Land Bank of the Philippines will also be on hand to provide financial schemes. The World Café of Opportunities was conceptualized in 2018 as Tesda’s strategy to link vocational graduates to employment opportunities both in wage and self-employment in a one-stop shop. On the other hand, Tech Voc Day was timed every August 25 in celebration of Tesda’s annual anniversary. This year, the agency will celebrate its 25th.

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XAVIER CITY: The new ambitious central business hub of Cagayan de Oro

August 7, 2019

CAGAYAN DE ORO CITY (MDN Mindanao News digital) - The new and ambitious central business hub of Cagayan de Oro initially dubbed as Xavier City by its developer will definitly change the landscape of Divisoria.  Based on the proposal submitted for approval by the Jesuits in Rome, it will be a planned mixed-use development of the current Xavier University campus in the downtown, and it shall be named "Xavier City." A new 6-lane thoroughfare is envisioned by the developer to cut across the Xavier property and it will become an extension of Toribio Chaves Street. It will also exit along Mortola St. The present church inside the XU campus (Immaculate Conception Chapel) will be retained and its surroundings will be made into a green park. On its south side will rise multiple office towers on top of the commercial establishments. The upper section will also composed of condos. The proposed new central business hub (CBD) also retains the university's College of Law that will occupy one of the towers, report said.   Different perspectives are presented below for clearer understanding of this most ambitious project development as proposed by Cebu Landmasters Inc. (CLI)  

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Security Bank Q2-2019 profit up 32% Year-on-Year to Php2.57 billion

August 7, 2019

THE Security Bank Corporation (PSE: SECB) posted Php2.57 billion in net income in the second quarter of 2019, up by 32% versus year-ago level. Total revenues grew 32% year-on-year to Php 7.9 billion. Net interest income from customer loans and deposits sustained its strong trajectory growing by 44% to Php 5.4 billion. This was driven by the continued expansion of retail loans and low-cost deposits. Retail loan growth accelerated to 54% year-on-year while low-cost deposits increased 11%. Retail loans now account for 25% of total loans versus 18% a year ago. Total loans grew 11% year-on-year to Php 427 billion. Total deposits stood at Php 449 billion. On June 28, 2019, the Bank issued Php 18 billion worth of fixed-rate peso corporate bonds with a tenor of 2 years as a cost-efficient funding source alternative to short-term high-cost deposits. Total deposits and peso corporate bonds combined grew 5% year-on-year. Net interest spread on loans and deposits increased to 5.36% in Q2-2019, up 38 basis points quarter-on-quarter and 108 basis points year-on-year. Total net interest income grew by 22% to Php 6.1 billion. Interest income from financial investments grew 7%. Overall, net interest margin increased to 3.59% in Q2-2019, up 18 basis points quarter-on-quarter and 42 basis points year-on-year. Service charges, fees and commissions increased 70% to Php 1 billion. This was driven by loan fees, credit cards, deposit charges and bancassurance. Securities trading gains in Q2-2019 amounted to Php 376 million. Total non-interest income increased by 81% year-on-year to Php 1.7 billion. For the January 1 to June 30, 2019 period, net income was Php 4.95 billion, up 15% from year-ago level. Net interest income from customer loans and deposits increased by 37% or Php 2.7 billion to Php 10.1 billion. Interest income from financial investments was higher by 9% or Php 439 million. Total net interest income grew by 18% to Php 11.8 billion. Service charges, fees and commissions for the six-month period increased by 46% to Php 1.86 billion. Securities trading gains totaled Php 1 billion. Cost-to-income ratio was 53.7% despite a year-on-year operating expense growth (excluding provisions for credit and impairment losses) of 23%. Asset quality remained healthy, with gross non-performing loan (NPL) ratio at 1.1% versus 0.75% a quarter-ago, and lower than industry’s 1.7% as of May 2019. The Bank set aside Php 639 million for provision for credit losses in 1H-2019. NPL reserve cover was 127%. Security Bank continues to be among the country’s best capitalized private domestic universal banks. Common Equity Tier 1 Ratio further increased to 16.8% from 16.5% a quarter-ago. Total Capital Adequacy Ratio likewise strengthened to 19.2% from 19.0%. Return on shareholders’ equity increased to 8.8% from 8.1% in 2018. Shareholders’ capital improved to Php 115 billion, up 7% year-on-year. Total assets increased 8% to Php 777 billion.

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PH 2020 national budget: PHP4.1 trillion

August 6, 2019

PRESIDENT Rodrigo R. Duterte has approved the proposed national budget for 2020 worth PHP4.1 trillion, Malacañang said on Tuesday (August 6, 2019). Presidential Spokesperson Salvador Panelo said Duterte approved the proposed 2020 cash-based national budget during the Cabinet meeting that started Monday (August 5) night. The PHP4.1-trillion budget is 12 percent more than this year’s PHP3.7-trillion expenditure program. Last year, Duterte submitted the proposed PHP3.7-trillion national budget for 2019 to Congress, on the same day he delivered his third State of the Nation Address (SONA). However, the government operated on a reenacted budget since January 1 this year after lawmakers failed to pass the bill on time due to a budget impasse in Congress. Duterte finally signed the 2019 budget but vetoed several provisions on April 15, 2019. Malacañang has yet to announce when it will be transmitting the budget proposal to the Congress but has 30 days from his fourth SONA to do so or until August 22. In a statement, Panelo described the budget proposal as one that would “respond to the needs” of majority of Filipinos. “This budget proposal is designed to respond to the needs of the majority of our countrymen longing to be uprooted from the decades of: want of basic necessities, inadequate supply of basic services, lack of infrastructures required to spur economic growth, absence of accountability on government coffers, vexing bureaucratic rigmarole, deprived education and unchanged poverty, and geared to achieve a more peaceful and progressive Philippines where the living standards of Filipinos are raised,” Panelo said. Panelo assured the public that the budget’s biggest slice will be allotted to education, followed by public works, transportation, and health. Moreover, he said the budget will be spent “wisely to reach a state of vibrant economy that will be felt by the citizenry.” The Palace has expressed hope that the 2020 budget would be approved without any delays. (PNA)

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FOTON PH inaugurates grander Cagayan de Oro showroom

July 31, 2019

Just three weeks after inaugurating its Metro Clark showroom, FOTON Philippines continues its dealership expansion with the opening of a grander and newly-renovated Cagayan De Oro facility.      “As our brand grows, we also want our customers to experience how great FOTON is when they purchase their vehicles and during the after sales processes. We want them to feel FOTON’s welcoming ambiance, and have a hassle-free ownership experience as soon as they enter our dealership,” said FOTON Cagayan De Oro Dealer Principal Roger L. Chiu.      Now situated at a larger and more accessible site along Gusa Highway, the FOTON Cagayan de Oro dealership showcases a two-storey state-of-the-art building on a 2,000 square meter lot.      The showroom is capable of exhibiting 30 vehicles with 10 bays in its service area. It also houses parts and accessories counters and a contemporary customer lounge where clients can sit back and relax while waiting for their vehicles to be serviced.      “The inauguration of FOTON Cagayan de Oro marks yet another milestone in our persistent commitment to establish fruitful and everlasting relationships with our patrons. We continuously strive to reach our customers in different areas around the Philippines, and deliver world-class FOTON products and services by providing an extraordinary customer experience with us,” said FOTON Philippines President Rommel Sytin.      First inaugurated in 2008, FOTON Cagayan de Oro is the first FOTON dealership to be established outside Metro Manila.      “We are truly grateful to FOTON Philippines and United Asia Automotive Group Inc., for its long-term support and encouragement over the past 10 years,” Chiu added.      The introduction of a dependable yet affordable make of passenger cars, commercial trucks, and specialized vehicles for the transportation needs of Cagayan de Oro has clearly contributed to the region's multi-faceted and continuous growth.      “For the past decade, I’m proud to say that FOTON Cagayan de Oro has strongly impacted the region’s trade and commerce, banking, infrastructure development, employment, public services, and, widely, the private sector,” Chiu noted.      Dubbed the “City of Golden Opportunities”, Cagayan de Oro proves has proven its vast potential for business opportunities. Its booming economic expansion as evidenced by high-rise hotels, condominiums, malls, IT/BPO companies, hotels and restaurants, and fast-paced real estate developments, continue to cement its reputation as the gateway to Northern Mindanao.      “Since our brand reached the Philippines, we have been driven by the philosophy of ‘Empowering Businesses’ through our products and services. Our team is geared up to ensure worry-free vehicle buying and owning experience for every customer and unwavering support to our dealer partners as well,” Sytin says with pride.      The company announced that FOTON plans to open 30 dealerships across the country by the end of the year. These outlets will be offering passenger vehicles including vans, pick-up trucks, and Sport Utility Vehicles (SUV); light, medium and  heavy-duty trucks; and heavy machinery—all designed for the increasing demands of various businesses in the region.      Chiu noted, “Our team is here to address FOTON’s commitment through best-in-class purchasing and service offerings at our full-fledged facility. As ambassadors of FOTON, we look forward to representing the premium brand by demonstrating their renowned products and service quality to the people in the region, ensuring the highest level of satisfaction of the valuable customers.”      “We are glad to have intensified our reach in Northern Mindanao, which is a very important aspect of our growth strategy, thus aligning with our approach to offer advanced amenities and quality services through strategically located network set-ups in different parts of the Philippines,” Sytin concluded.      FOTON is known as Asia’s largest manufacturer of commercial vehicles including passenger vehicles, light-duty trucks, heavy-duty trucks and heavy machineries. For inquiries, call (02) 459-2121 or 0999-9999998. You may also visit www.foton.com.ph or www.facebook.com/FOTONPhilippines.

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