01:22.8
China's imports climbed 8.4%.
01:24.9
In April, better than expected, 4.8%.
01:29.4
Exports, meanwhile, rose 1.5% in line with expectations.
01:34.6
Meanwhile, Japan's Nikkei 225 also down 0.3%.
01:38.1
After Tokyo's real wages fell 2.5% in March, marking a 24th straight month of decline.
01:48.1
Let's take a look now at futures in Europe.
01:50.2
They are set for a mixed open ahead of the Bank of England's policy decision.
01:53.6
Two major sanctions.
01:54.9
Central banks in the region have already cut rates.
01:57.3
But while the BOE is expected to stand pat today, investors will be watching out for hints on a possible June cut.
02:05.5
Stateside now, Wall Street futures point to a lower open after a mixed close overnight.
02:10.4
On the data front, weekly jobless claims are on tap.
02:15.9
U.S. President Joe Biden warns Israel-Washington will stop supplying it with weapons if it launches a large-scale invasion of Rafah.
02:24.5
Biden also warns Israel-Washington will stop supplying it with weapons if it launches a large-scale invasion of Rafah.
02:24.9
Biden also warns Israel-Washington will stop supplying it with weapons if it launches a large-scale invasion of Rafah.
02:25.0
Biden also warns Israel-Washington will stop supplying it with weapons if it launches a large-scale invasion of Rafah.
02:55.0
More than a million displaced Palestinians have sought shelter.
03:00.3
The U.S. also oppressing Israel to reopen the Rafah crossing and allow the entry of vital aid.
03:06.4
The White House says choking off assistance to a population already on the brink of famine is unacceptable.
03:12.8
Israel seized control of the Palestinian side of the border with Egypt on Tuesday.
03:20.1
Ultimately, it's a question for Israel.
03:21.7
Israel has seized that crossing and Israel is in control of it now.
03:24.3
So it is the responsibility to open that crossing and make sure that it is running effectively right now is a responsibility of the government of Israel,
03:33.7
which is why we have made clear to them that they need to open the crossing as soon as possible and make sure that aid deliveries can come in,
03:38.8
make sure that humanitarian aid workers can come in and come out and make sure that the delivery of humanitarian assistance isn't further impeded.
03:47.2
Israel's unrelenting offensive in Gaza has killed more than 34,800 Palestinians.
03:52.3
Chinese President Xi Jinping arrives in Budapest, the third and last stop on his European tour.
04:01.4
The Chinese leader arrived in Hungary after visiting France and Serbia.
04:05.5
Similar to Serbia, Hungary is a supporter of China's Belt and Road Initiative.
04:10.4
She launched that ambitious plan a decade ago in the hope of building global infrastructure and energy networks, connecting Asia with Africa and Europe.
04:19.3
Budapest is also an important Chinese partner in trade.
04:22.3
Trade and investment in contrast with other EU nations that want to become less dependent on the world's second largest economy.
04:36.4
Denise Insay now joins us with stories here at home. Denise.
04:39.8
Thanks Stanley. Now the Philippine economy keeps its momentum in the first part of the year thanks to resilient consumer spending.
04:46.9
It grew 5.7% faster compared to the 5.5% expansion.
04:52.3
In the last quarter of 2023.
04:55.2
But it came below the 5.9% estimate of economists and government's 6-7% target.
05:02.4
The National Economic and Development Authority says the first quarter performance puts the Philippine economy on track to beat its Southeast Asian neighbors this year.
05:12.8
In 2023, the Philippines had the fastest growing economy in the region.
05:17.0
Still, Netta says it remains on the lookout for headwinds that may derail growth.
05:22.3
Including the impact of the El Nino phenomenon.
05:28.3
Our first quarter economic performance is a testament to our people's and industry's resilience.
05:35.3
Ensuring food security remains the top goal.
05:39.3
Given extreme weather conditions and climate change, we'll invest more in research and innovation to enable our agriculture and food systems to cope with this challenge.
05:52.3
Philippine Senator Sonny Angara appeals for a political ceasefire between the quarreling Marcos and Duterte camps.
06:01.2
Angara says the tension is not helping the country, which is facing external threats, particularly from China.
06:09.5
The senator issued his appeal amid talks of a destabilization plot against the Marcos administration, supposedly by police officials in Davao, the bailiwick of the Dutertes.
06:21.3
There are also talks of the possible looming arrest of former President Rodrigo Duterte by the International Criminal Court, which is investigating his bloody drug war.
06:34.9
Filipino businessman Leandro Leviste stresses the need for more equity funding for solar projects in the Philippines.
06:41.9
The founder of the renewable energy firm SP New Energy says the lack of equity funding is hindering the push to build more solar farms in the Philippines.
06:51.3
Still, Leviste is confident of the growth of solar use in the Philippines.
06:57.3
He also shares that SP NEC is drawing interest from foreign investors for its Terra Solar Central project in Santa Luzon, dubbed the world's largest solar project, seen to rise in 2027.
07:13.7
The demand has always been there for solar in the Philippines because of the relatively high price of power.
07:19.1
And the El Nino phenomenon has only accented.
07:21.3
The bottleneck, however, has largely been the lack of available local equity financing.
07:28.3
And there have been many steps, I think, recently to bridge this gap.
07:32.7
So the potential is just even to complete this one project, that would be approximately double the total installed solar capacity in the whole Philippines just on one site.
07:45.5
And once that's done, hopefully show the potential for more such large-scale installations in the Philippines.
07:51.3
Leviste also shares a plan to invest in the agribusiness firm Rojas Holdings, as well as help shore up market confidence in ANC's parent firm, ABS-CBN Corporation.
08:04.6
He previously acquired an 8.55% stake in the company.
08:12.3
We certainly have a soft spot for ABS-CBN because my mom was working in the station in my first five years of life.
08:18.8
And we know a lot of people who are there and truly, sincerely wish to help the company.
08:26.1
We hope that by purchasing shares in the company and even just with the performance of its stock recently,
08:34.5
we can help bring back the confidence of the market so that we can work together to help ABS regain its leadership in the media sector.
08:46.7
More corporate stories this Thursday.
08:48.8
From PLDT, net income climbs to 9.8 billion pesos while revenues rose to 52 billion in the first quarter.
08:57.0
The telco giant says data monetization drove profit higher while its fiber service sustained revenues.
09:04.0
PLDT, though, acknowledges a slowdown in growth from higher capital expenditures and what it called the realities of market saturation.
09:13.5
Also in earnings, Megaworld's net income and revenues both higher as its core businesses,
09:18.8
see strong growth in the first three months of 2024.
09:22.9
As for Security Bank, it's $400 million of senior unsecured fixed-rate notes.
09:28.4
The lender says this is a drawdown of its board-approved $1 billion medium-term note program.
09:35.2
The notes will be listed on the Singapore Stock Exchange.
09:38.3
Proceeds of this will be used, among others, to extend term liabilities,
09:42.6
expand funding base, and fund its investments.
09:46.9
And finally, Off the Land forms a newsletter.
09:48.8
It's a subsidiary with a capital worth 25 million pesos in common shares.
09:53.3
The real estate developer says Southern Land Corporation will be used for the acquisition of a still undisclosed property.
10:04.3
A check on local trade now.
10:06.2
The PSEI joins the regional downswing, closing at 65.42 after the lower-than-expected GDP growth.
10:12.9
Value turnover was at 6.7 billion pesos.
10:17.4
Aaron Tsai of First Metro.
10:18.9
Securities now joins us for his take on today's trading.
10:21.5
Hi, Aaron. Welcome to the Business Roadshow.
10:29.0
All right. Now, the economy grew 5.7% in the first quarter of 2024.
10:33.8
This is a little below the range expected, but still viewed by many as encouraging.
10:39.0
What's the final number within your expectations?
10:42.7
Actually, the expectation of the market that we have been seeing prior to the announcement,
10:48.9
which was around 5.9%,
10:50.5
the research partner of First Metro Securities and Development,
10:54.3
Bako Singapore, is actually expecting 6%.
10:56.7
So I think there was really a bad feeling, sort of, in the final number, around 5.7%.
11:08.3
And I think the worst thing from the GDP rate today was the drop in the growth in the consumer market.
11:18.8
We saw consumption grow 6.3% in the first quarter in 2023.
11:25.7
But now it seems that what we are seeing in the profitability of corporates,
11:31.0
especially the consumer sector companies, is now being reflected in the macro indicator.
11:38.1
We saw consumption growing just by 4.6% in 1Q2024.
11:44.2
So if this continues to be the trend moving forward,
11:48.5
then definitely there would be some cause of concern since consumption is the biggest driver of the economy.
11:55.4
All right. Now, Aaron, biggest contributor to GDP, of course, still services.
11:59.2
You have industry of agriculture and fisheries and aquaculture.
12:03.3
There's a bit of varying views now on how government spending played a role in today's numbers.
12:08.3
Now, some are saying it contributed well to GDP, while others see it could have accelerated much faster.
12:14.5
What do you think?
12:17.1
Definitely, the acceleration of government spending was very welcome.
12:21.2
But again, I think the market might not be justified to expect too much from the government
12:29.8
since the government is, as we know, we have been under a deficit.
12:36.8
And the deficit might not be as sustainable, meaning the target deficit might not be as sustainable
12:44.3
if the government just continues to expand.
12:47.1
And maybe the fiscal room was just not there to expect the government to do better
12:54.1
than how they did in the first quarter, 2024.
12:58.2
Although, definitely, again, it would be very helpful, but perhaps maybe in a better time,
13:05.7
maybe in a better time, especially with a better cost for the government, as we see.
13:10.1
We would most probably see the government, just like the corporates, incurring too much interest expense
13:16.2
in their spending.
13:17.1
And their books, as we see, current borrowing costs going higher by the day.
13:23.4
Now, so far, this data-driven week, we already have inflation at 3.9.
13:27.9
We have GDP at 3.7.
13:30.7
These numbers crucial to the direction Banco Central is taking as regards policy.
13:35.1
Now, how do you think the BSP would take these numbers in its policy meeting next week?
13:39.8
Will they banner this?
13:41.2
Or will they use this to further support their stand that there will be no rate cuts anytime soon?
13:47.1
Well, I think as far as the growth is concerned, this would somehow should be an inspiration
13:56.1
for the consideration to cut rates.
13:58.9
As we saw GDP growth being more anemic than expected, especially the poor growth in consumption.
14:08.8
So, there would be definitely a consideration that the market is,
14:17.1
the economy is really reeling, reeling on the high borrowing costs,
14:23.3
the increase in policy rates in the past have been producing now.
14:27.7
But again, the BSP is not in liberty to just ask their policy rates lower.
14:37.8
Just because, first and foremost, there would be a very crucial implication on the interest rates differential.
14:45.7
Especially if the...
14:47.1
Federal reserves cannot lower their rates just because their economy remains hot.
14:54.1
So, I think there would be a very careful balancing act.
14:59.3
Definitely, the BSP would like to have a healthy borrowing environment in the economy.
15:08.4
But the differential and its yield effect, especially if it widens,
15:15.3
might stop them or might hinder their intention to give better borrowing costs for the economy.
15:26.0
All right, Aaron. From this quarter's 3.7%, how are you now plotting the GDP path in the next three quarters?
15:33.1
And what are the threats to those growth numbers reaching government targets now to 6% to 7% for the entire year?
15:40.2
Well, for one, again, as mentioned earlier, the research partner, First Metrosec,
15:45.3
the DBS, has a full year 2024 GDP target growth of 5.3%.
15:51.9
And this is considering a 6% growth anticipation for the first quarter of 2024,
16:00.1
which, as we know, the actual print came lower than that 6%.
16:06.1
So, I think there would be a good case for a re-rating.
16:09.1
I don't see any...
16:13.1
Unless there would be...
16:15.3
significant decline in the inflation path moving forward.
16:20.3
I don't see any positive development that can somehow more than offset the lower growth that we experienced in the first quarter.
16:32.0
So, if that is so, and moving forward, the actual growth in the second and third quarter,
16:39.2
especially in the fourth quarter, comes even in line or lower than the expected.
16:45.5
Then, we might see a lower GDP growth rate.
16:49.8
Might be much lower than 6% or even around 5% growth.
16:55.8
Now, Aaron, all things considered, we still have one of the brightest growths in Asia,
17:00.3
as we seem to still grow better compared to even the biggest economies in Asia, such as China and India.
17:06.7
Now, what does this mean for foreign investor confidence over our markets?
17:12.1
Well, as far as confidence is concerned,
17:15.3
confidence is the issue, but I think
17:17.3
the issue is really,
17:19.0
the issue concerning the flows
17:21.4
is really based on
17:23.5
or maybe driven more
17:25.4
by the options of the
17:29.0
across their universe.
17:31.2
If again, the very
17:33.2
key factor here is the high
17:37.6
yield that they are getting from the developed
17:39.5
market, especially in the US.
17:41.2
So now they are getting or they
17:47.2
lower risk, which might
17:49.2
discourage them really to
17:50.9
reallocate their capital
17:53.2
in more risky environment.
17:55.5
So not just in the
17:57.2
stock market, but even jurisdiction.
17:59.6
So I think as far as
18:01.3
confidence is concerned,
18:06.4
realize or we can only
18:10.6
more meaningful foreign investment
18:13.1
or money inflow if we
18:16.8
in the interest rates or the return
18:19.1
from the fixed income market
18:22.4
Lastly, today we saw market prices
18:25.4
in the red. Of course, we're back in the
18:27.2
6500 level. How might
18:29.4
the growth numbers result this kind of sentiment
18:31.4
and what were the other
18:33.1
influences in the market today
18:34.8
that resulted in such a
18:43.1
again, as you know me,
18:45.1
looking at the charts, the PSEI
18:47.5
actually closed to a lower
18:49.4
low today, which is sending us
18:51.4
a message after consolidating
18:53.6
in the past five days, which is
18:55.2
again, consistent so far
18:57.1
with our view that the rally that
18:59.2
we saw from mid-April is done already
19:01.6
and the market is
19:03.1
on its way to retrace more of
19:05.3
its rally from the October low last
19:07.3
year. Actually, from where we
19:09.3
stand now, we anticipate a retest
19:11.2
of the 6400 low in
19:16.9
that area is broken, then
19:19.1
we might see the market revisiting
19:24.7
Alright, on that note, Aaron Sai,
19:26.9
consultant for First Metro Securities,
19:29.0
thank you so much for the market guidance and for this talk.
19:32.6
Thank you, Stanley.
19:34.0
We're stepping aside
19:35.1
for a short break when we return
19:36.8
a new player in the ride-hailing industry
19:39.0
vows employment for
19:40.3
unconsolidated jeepney operators.
20:43.0
He says he wants doctors banned from owning pharmacies and being shareholders in pharmaceutical firms.
21:05.3
He also wants doctors to declare the incentives they receive from selling specific drugs.
21:11.0
Tulfo says other possible measures include allowing pharma companies to advertise prescription medicine to stop them from going directly to doctors and hospitals.
21:41.0
79% of the COVID health emergency allowance amounting to 59.8 billion pesos has been distributed to healthcare workers.
22:02.1
President Marcos made that announcement on Health Workers Day Wednesday.
22:06.6
According to the law, medical workers who were on the front line during the peak,
22:11.0
of the COVID pandemic, are entitled to a special risk allowance for each month they serve.
22:17.1
A health workers group for its part says, while they welcome the development,
22:21.2
more effort is needed from the health department to speed up the distribution of the allowance.
22:41.0
There are no clear data that the department of health is providing.
22:45.7
When they need it again, there should be a hea mapping.
22:48.8
The hea mapping, we will see if there are still some per region,
22:53.6
some private and local government units that have not been received yet,
22:57.2
and we will also see how many months have been received.
23:02.3
Health Secretary Ted Herbosa has said government will complete the payment of the emergency allowance
23:21.2
Today on MSME Corner,
23:23.4
we feature a business that sells bacon
23:25.5
served in various creative ways.
23:29.5
the beloved meat in forms such as
23:31.4
crisps, cookies, and
23:33.4
get this, even jam.
23:35.3
Let's learn more about bacon
23:36.9
with its owner, Rachel Carrasco.
23:39.3
Rachel, good to have you on the show.
23:41.0
Hi. Good afternoon.
23:44.0
Now, tell us more about
23:45.4
bacon. I mean, you've obviously
23:46.8
identified a love for bacon as
23:49.1
your starting point.
23:51.2
But can you elaborate on the specific
23:53.1
demographics and psychographics
23:55.3
of your ideal bacon
23:58.9
Well, obviously, I think you have to be
24:01.1
a meat lover. You must
24:03.3
love bacon to actually
24:04.7
appreciate our brand.
24:08.3
this brand about five years ago.
24:11.0
But it was about three years
24:13.1
in development, and it's only in the last
24:15.0
two years that we started to commercialize it.
24:17.4
It's really about being
24:19.1
able to deliver a snack
24:21.2
brand that is 100%
24:23.0
real bacon, not your typical
24:25.0
jerky, pork rinds, or
24:26.7
any meat-flavored potato chips that you
24:29.0
have in the market right now.
24:31.0
And it's great that you mentioned that because, I mean,
24:33.1
how are you positioning bacon
24:35.0
compared to those things that you just mentioned?
24:37.2
Existing pork rinds, jerky,
24:39.0
and bacon-flavored snacks. I mean,
24:41.0
aside from being 100%
24:42.7
bacon, I mean, what other unique
24:44.9
selling proposition sets it
24:46.8
apart? I mean, if
24:49.0
you think of all the meat snacks in the market,
24:51.4
what you have are typical, you know,
24:53.0
meat jerky formats, like
24:55.9
meat snacks, meat
24:58.7
sticks, you know,
25:00.8
even chicharron also.
25:02.9
But this one, what we have or what we've
25:04.8
actually created as an innovation in
25:06.8
itself is actually ready to eat bacon
25:08.9
in a bag. And it's basically,
25:11.0
cooked, it's basically baked
25:12.9
at a precise temperature setting.
25:15.1
It has, you know, a very
25:17.1
precise meat-to-fat
25:19.4
ratio content as well,
25:21.2
which is quite a new format
25:22.7
in the meat snacking category.
25:25.2
So right now, what you basically see
25:26.9
is a snack that's crispy, that's
25:29.1
shelf-stable, and, you know,
25:31.4
in an environment setting
25:32.9
that is able to last longer.
25:35.5
And tell us more about
25:37.0
the current offerings because we've just
25:38.9
talked about this as a snack, but in our
25:40.8
intro, we talked about that it has
25:42.9
jam, cookies, crisps.
25:45.1
Tell us more about this line.
25:49.3
we obviously, you know, when we
25:51.0
started, what we wanted to do was
25:53.0
create that perfect bacon crisp,
25:55.4
right? And that in itself was
25:56.9
actually the biggest challenge.
25:58.8
How do we basically retain
26:01.2
that crispiness in a bag as if
26:03.1
you're eating bacon out of the kitchen?
26:04.8
Once we have basically attained,
26:07.0
you know, that level of crispiness,
26:09.4
that perfect crisp,
26:10.8
you know, so to say,
26:12.4
you know, bacon as an ingredient
26:15.1
or basically just even as a breakfast
26:16.9
staple is such a versatile product.
26:19.0
So that's like the second thing that we wanted,
26:21.4
you know, that we were inspired by.
26:23.3
What we wanted to basically do
26:25.0
was with that crisp
26:26.9
basically turn, you know, other different
26:29.0
products with the use of bacon and that we
26:30.8
even extend that versatility
26:34.5
you know, by creating recipes
26:37.1
that, you know, that
26:38.7
go beyond your breakfast,
26:40.8
you know, your breakfast routine.
26:42.8
So you literally can have these snacks on
26:44.7
its own or you can also
26:46.6
basically have them elevate, you know,
26:48.6
your snacking and even meal times.
26:51.5
And what do you find that is,
26:53.1
I guess, the most enticing
26:54.6
for the normal Filipino consumer?
26:59.3
I mean, we are a Filipino
27:00.7
community and actually when I started
27:02.7
this, I just remembered, you know, growing up in the Philippines,
27:05.2
you know, we all love pork.
27:07.0
Who doesn't, right? Like, I mean,
27:10.8
gathering that we would have as
27:12.3
family or as celebrations,
27:14.6
we would always have, you know, your
27:16.1
typical lechon and, you know,
27:18.6
pork rinds. And that, I think, is what the
27:20.6
spirit of the brand is also about.
27:22.4
And that is what makes it, you know,
27:25.0
homegrown as well.
27:26.9
On that note, it's just
27:28.3
coming back to that spirit of
27:30.6
loving porkalicious
27:35.7
basically all that.
27:38.0
So anything that you can basically indulge
27:40.8
And where are Bacon Crisps
27:42.9
currently available for purchase?
27:45.0
Are you seeing more online retail stores?
27:49.3
in the Philippines, we're currently
27:51.1
right now available in One World
27:53.0
Deli. We're also available
27:54.7
in Landers. We're also
27:57.2
available in Brera.
27:58.8
Also available in Candid Coffee
28:01.0
and Terry's Selection.
28:03.0
And soon we'll be in more outlets
28:04.9
in May, which I'm unable to,
28:07.2
you know, share at the moment. But there will be
28:10.1
in the coming months. And then
28:12.1
for e-commerce, we're also
28:13.7
available locally as well as
28:16.2
in Singapore and in Australia.
28:18.7
Oh, and it's great. I mean, how
28:20.1
are you currently reaching your target audience?
28:22.4
We already talked about the different offerings
28:24.3
of Bacon. But now, let's talk
28:26.3
about specifically, you know, marketing strategies.
28:28.7
Are there specific marketing
28:30.0
channels that, you know, you find most
28:32.0
effective for promoting Bacon?
28:36.1
us, right, like, my
28:38.2
background really is in brand building.
28:40.1
So, it's really important
28:42.0
for me, you know, not just to
28:44.1
sell the product, but to be able to deliver
28:46.2
a full experience for our,
28:48.4
you know, for our audience.
28:50.0
And that's the reason why,
28:52.2
you know, we've basically extended
28:54.4
it out of just, you know, we've
28:56.3
basically gone beyond the whole, it's
28:58.2
just your typical snack, but also
29:00.2
created, you know, an
29:02.1
entire, you know, I guess
29:04.3
you could say an entire sort of
29:06.1
like meal experience around it
29:10.0
think that also says a lot.
29:11.8
And with, like, the premiumness
29:14.2
of the brand and how we go
29:15.8
through such a rigorous process to even
29:17.7
get it to that perfect crisp.
29:20.4
And bringing back on what you
29:21.7
just mentioned a while ago, you are
29:23.8
exporting this to other countries.
29:25.9
While you can't tell us
29:27.4
where else we'll be able to
29:29.7
find it until later this month,
29:31.9
how about expansion when it comes to
29:35.7
Yes, of course. So, that's
29:37.8
definitely on the pipeline. I mean, at the beginning,
29:40.0
of, you know, this started
29:42.0
as a passion project, which is now
29:43.5
literally a real business for us.
29:46.3
But what we've always wanted
29:48.0
to do was really bring this
29:49.7
outside of the Philippines
29:51.8
and to be able to target
29:53.4
other meat snacking markets like
29:55.9
the U.S., like maybe North America,
29:58.0
Europe, particularly the U.K.,
30:00.5
potentially Spain
30:03.5
of course, other neighboring countries that love
30:06.0
pork, such as like Hong Kong.
30:08.1
And literally more
30:10.0
taking that into a retail environment
30:15.5
And as bacon grows, expands,
30:18.1
how will you ensure the consistent
30:19.9
quality and production
30:21.9
volume while maintaining
30:23.8
that commitment of 100%
30:28.0
no artificial ingredients?
30:30.5
Yes. So, we basically
30:31.8
create our own bacon.
30:33.7
Our own bacon is basically made
30:35.6
just for us. So, we do
30:37.9
that. We do our own smoked bacon.
30:40.0
With our own seasonings and basically
30:42.0
a secret mix of ingredients.
30:46.0
kept here in the Philippines, which
30:48.0
is really very important for us. I think
30:49.9
there's a lot of, you know, there's a lot
30:52.0
of very skilled food technicians here
30:54.1
in the Philippines. And we
30:55.9
basically put our operational playbook
30:58.1
or manufacturing playbook from here.
31:00.0
And then what we intend to do as
31:02.1
we move over to the other
31:03.5
countries or other
31:05.8
regions is to basically replicate
31:07.6
or create a plug and play, you know,
31:11.9
or framework and then
31:13.9
take that over as a skills transfer
31:15.9
to the rest of the other regions.
31:18.2
As you know, like, I think
31:20.0
as many know, actually, if you're
31:22.1
in the food industry, there's a lot of compliance
31:24.1
when it comes to meat snacks or meat
31:26.2
in general, especially pork, of course.
31:28.1
We have to choose, you know, one of the hardest
31:30.0
or one of the most challenging,
31:35.7
ingredients to deal with.
31:38.0
And, of course, that every,
31:40.0
every country, every region
31:42.0
would have their own compliance or regulatory
31:44.2
compliance that we would have to adhere
31:47.1
you know, by us kind of just setting
31:52.0
here in the Philippines
31:53.9
and then bringing that elsewhere
31:55.4
by doing our skills
31:57.9
transfer is how we would do the expansion
32:00.1
and the growth. Let's talk about, I mean,
32:02.2
the price point. Have you identified
32:03.8
an optimal price point, you know, that balances
32:06.1
profitability with
32:08.2
consumer affordability?
32:11.9
I mean, at the moment, we really are
32:14.1
taking a stance on, you know,
32:16.2
being a premium product. I think
32:17.8
also just because it's
32:19.8
one, you know, it's one, it's the first,
32:22.3
you know, it's the world's first
32:23.9
all-bacon snack brand. I don't know if you've seen
32:25.8
anything like it, but it really is the first world,
32:29.6
format in itself, like,
32:32.6
you know, the, it
32:35.4
format rather than jerky, rather
32:38.0
than just, you know, just
32:40.0
the churro on our pork rinds, meat
32:41.9
sticks, that all in itself
32:46.1
as it is good, it is also
32:48.0
quite a challenge for us because
32:49.7
the minute we start placing it into,
32:53.7
the industry and into all the
32:56.0
checks and we have to get our licenses
32:57.6
and, you know, adhere to regulatory
32:59.8
compliances, quite of the
33:01.9
time, we find it also a little
33:03.9
bit challenging where to place it because
33:05.8
there is nothing like it
33:07.9
as of the moment. And,
33:10.0
Cassie, building on, you know, your focus
33:12.1
on creativity and innovation,
33:14.3
are there any exciting new bacon
33:15.9
products or flavors
33:20.3
Yes, there is. So, we're hoping
33:21.9
that by the end of the year, we'd be able
33:23.9
to put forward, you know, two
33:27.9
then, we are also
33:31.8
flavors to our cookies
33:32.9
and basically creating
33:37.2
product that would probably extend to the
33:40.0
food service industry.
33:41.7
At that moment, to be able to do that is
33:43.9
to just give our consumers,
33:45.9
you know, more options
33:47.9
in terms of, you know,
33:50.2
pack sizes and what
33:51.9
would be suitable for their occasions
33:53.9
and at the same time maximize
33:55.7
profitability for our company.
33:58.3
And that's it. Rachel Carrasco,
34:00.1
owner of Bacon, thank you so much
34:01.9
for joining us, Rachel. Thank you.
34:06.4
Now, moving on, a new
34:07.8
player in the ride-hailing industry.
34:10.0
Vows employment for jeepney
34:11.9
operators who failed to consolidate
34:14.0
as part of the government's
34:16.0
PUV modernization program.
34:18.9
The Filipino-owned Unified
34:20.1
Transport Operations League offered
34:22.0
Wednesday jobs for
34:23.8
unconsolidated jeepney drivers
34:25.6
as part of its expansion
34:28.0
plans in the capital region.
34:30.6
UTOL has started operations
34:32.1
in select areas in Metro Manila,
34:34.2
including the cities of Quezon and
34:36.0
Makati, and plans to cover the whole
34:38.0
capital region by June.
34:40.0
And nearby provinces, three months
34:44.7
Merako and several cooperatives
34:46.3
have confirmed that power rates
34:48.1
will be higher in May.
34:49.9
That's after the series of red and
34:51.9
yellow alerts raised in the Luzon
34:54.0
and Visayas grids in the past
34:56.2
few weeks. Alvin Alchico
35:00.5
The country's biggest
35:02.0
power utility confirms
35:03.5
electricity rate for the coming May
35:05.7
billing is going up due to the series
35:07.9
of yellow and red alerts in the
35:09.8
Luzon grid, which push prices
35:11.8
up at the spot market where
35:13.6
Merako gets a part of its supply.
35:16.0
Hindi naman siguro ito magiging
35:19.8
Kung piso yung naging reduction natin
35:21.9
noong nagdaang buwan. So kung hindi ito
35:23.6
aabot ng piso, it simply means
35:25.4
the rates of May will still be lower
35:27.5
compared to March. But it's not
35:29.8
only Merako that sources electricity
35:31.7
from the spot market. A number
35:33.8
of electric cooperatives nationwide
35:35.5
are also affected by higher
35:37.7
spot prices. They include
35:39.5
Aklan Electric Cooperative or
35:41.4
Akelco, which derived 40%
35:43.8
of its April supply
35:45.3
from the spot market.
35:47.5
Noong nakaraang buwan po,
35:49.2
tumaas kami ng 1 peso and
35:51.4
49 centavos. Based
35:53.5
dito sa paunang analysis
35:55.5
namin sa Corplan,
35:57.6
baka umabot kami sa 5
35:59.4
piso na per kilowatt
36:01.7
hour na taas, singil
36:03.6
sa kuryente sa darating na
36:05.5
Mayo. The Energy Regulatory Commission
36:07.7
advises electric co-ops to
36:09.5
obtain a so-called anti-bill
36:11.8
shock loan so that it can
36:13.6
pay the power supply from the
36:15.5
spot market and implement a
36:17.6
staggered increase for its member
36:19.5
consumers. So far,
36:21.5
only two co-ops have taken the loan.
36:24.2
Walang requirement ang
36:25.4
land bank na kolateral.
36:27.5
Tapos, yung interest
36:29.6
nito, meron lang konting
36:31.3
interest base on market but zero
36:33.3
interest spread. So,
36:35.4
very concessional yung rates na
36:37.3
binigay ng land bank for this product.
36:39.5
Akelco says, it now
36:41.5
plans to get a similar loan from
36:43.5
land bank to mitigate the rate
36:45.3
hike impact on its customers.
36:47.8
Para ma-spread din namin
36:49.4
yung biglang taas, singil
36:51.4
ng kuryente sa aming member
36:53.2
consumers para hindi nila masyado
36:55.2
maramdaman. So, yun, ginagawa namin
36:57.3
ngayon ng paraan. Meanwhile, the
36:59.4
National Electrification Administration says
37:01.6
the controversial Maharlika
37:03.4
Investment Corporation will
37:05.3
invest in Occidental and
37:07.3
Oriental Mindoro's power systems.
37:09.5
Why don't Maharlika
37:10.9
acquire the whole
37:13.7
loop, the backbone
37:15.9
of the transmission?
37:19.3
improve the quality of service.
37:21.9
The quality, mawawalan tayo ng low voltage.
37:25.8
President and CEO of Maharlika
37:27.6
Investment Corporation, confirms
37:29.5
the fund is earmarking
37:31.6
2 billion pesos to
37:33.4
upgrade the power infrastructure
37:35.1
of Mindoro Island. The multi-billion
37:37.7
peso investment is seen to
37:39.5
help connect the island to the
37:41.3
national grid and stave off
37:43.2
power outages similar to last year.
37:46.1
Our role, basically,
37:49.6
is to find ways by which
37:52.0
improve. Particularly, we're going to be focusing
37:57.4
We don't need to be investing
37:59.0
in the generation capacity because
38:01.2
there are a number already who wish to do that.
38:04.0
It would be in the lines that we would
38:05.5
then invest. We will be
38:07.5
looking at what the investment
38:09.3
would be, the type of investment that is
38:11.2
required in order to
38:14.5
for its eventual connection
38:17.5
into the main grid.
38:19.5
And once that grid
38:26.9
go to the next project.
38:28.9
Alvin Ochico, ABS-CBN News.
38:32.8
We're going on another quick break, but stay tuned
38:35.4
when we come back. Nicola Jokic,
38:37.1
a.k.a. The Joker, is once again.
38:39.3
The best player in the NBA.
38:41.3
The details, after the break.
39:09.3
You're back on the Business Roadshow.
39:15.0
President Ferdinand Marcos Jr. calls on
39:17.2
the Customs and Tax Bureaus to strengthen
39:19.2
efforts to protect the tobacco industry
39:21.4
against smuggling.
39:23.0
He made that call during a meeting
39:24.9
with the Private Sector Advisory Council's
39:27.2
Agriculture Group in Malacanang.
39:29.8
Marcos also sought for better
39:31.1
protection against smuggled vape
39:33.0
products. Bureau of Internal
39:35.0
Revenue Commissioner Romeo
39:39.2
the President, the agency has
39:40.8
intensified its crackdown on these products
39:43.1
and is implementing a tax
39:44.9
stamp system to flush out
39:46.9
illicit items. Tobacco excise
39:49.1
tax makes up 4% of total
39:51.1
government revenues. That is
39:59.2
guests today are from an organization
40:01.0
that aims to promote and advance
40:03.2
the marketing profession in the Philippines.
40:05.5
The Philippine Marketing Association
40:06.8
serves as a hub for such professionals.
40:09.2
And together, they advance
40:11.1
the marketing industry through various
40:12.9
events, seminars, and training
40:14.9
sessions. And here to talk
40:17.0
to us about what they do and how they do it
40:19.0
are Cathy Mercado and
40:20.8
Mitch Ballesteros of PMA.
40:23.3
Welcome to the Business Roadshow, ladies.
40:27.0
having us. Good afternoon
40:29.0
everyone. Yeah, good afternoon to you
40:31.1
too. Now, maybe Cathy first.
40:33.3
Tell us about PMA,
40:34.8
what it does in terms of promoting
40:36.9
and advancing the marketing profession
40:39.2
in the Philippines first.
40:40.9
Actually, the Philippine Marketing Association
40:43.8
organization dedicated to
40:47.0
advancing the field of marketing.
40:49.7
it contributes to the growth
40:52.8
and development of the marketing in the
40:54.6
Philippine industry.
40:56.8
Yes, Mitch, I'd like to ask you
40:58.6
what are the challenges now
41:00.8
as regards to the industry,
41:02.7
the industry that's encountering in the
41:04.7
Philippines right now, and perhaps
41:06.2
what are the basic hurdles?
41:09.2
Or the strides that the group has
41:11.2
made in terms of, you know,
41:13.0
overcoming these challenges?
41:15.2
Okay, marketing profession is
41:17.0
faced right now with the biggest challenge
41:19.4
of the time, which is
41:21.0
fake news. We don't know yet
41:25.1
true or not in the advent
41:28.6
this technology that we have right now.
41:31.9
And of course, information
41:33.3
overload. So as marketers,
41:35.4
we have to be practicing
41:37.1
ethical marketing,
41:39.2
and ethical business
41:41.2
strategies so as to
41:42.9
advocate sustainability
41:44.8
still using the technology
41:47.1
for our business growth.
41:49.2
And how have Filipino consumers
41:50.8
changed in this regard? I mean, when they
41:53.2
take on marketing messages,
41:54.9
is this generation different from the past?
41:57.3
And is that a challenge for you?
42:00.9
Yeah, it's the biggest
42:03.2
challenge of the time right now
42:06.6
they would believe,
42:09.2
and who, in terms of
42:13.3
to use, and of course
42:16.1
sustainability issue,
42:19.1
the climate change, all this environment
42:21.4
which is anchored right now
42:23.1
to the sustainability
42:24.6
but using the technology
42:27.0
that we have right now. It's not
42:29.0
anymore the model of use,
42:31.7
the traditional model of
42:33.2
take, use, and dispose,
42:35.3
but right now we are
42:36.7
facing the consumerism
42:39.2
model or consumption
42:45.7
create, recreate,
42:47.7
and use, and don't
42:49.3
dispose. We are in
42:51.3
the business of growing
42:55.1
that we have right now,
42:57.4
and don't as much as
42:59.2
possible produce anymore.
43:01.7
So whatever resource that we have,
43:05.2
do of this, and we have to make
43:09.2
following the model
43:11.4
of sustainability, of
43:13.2
nested dependencies
43:17.2
teaching us, which is
43:20.5
sustainability framework, that
43:23.2
we have to consider interconnection
43:25.7
and interdependence.
43:27.5
All right. Now, Cathy,
43:29.2
building on from what Mitch said about
43:31.1
sustainability and these trends,
43:32.9
what is the way forward now for
43:35.0
Philippine marketing professionals in
43:37.2
terms of practice, in terms of
43:39.2
the way you do things in your
43:43.1
Actually, having said that,
43:45.4
and adding to EVP
43:47.2
Mitch, we just had
43:51.1
It's a fashion show, a
43:53.1
sustainable fashion show that we had
43:54.9
last April 30, that it's
43:56.9
actually, we gathered
43:59.3
all the industry marketing
44:00.8
leaders to come together
44:02.9
and support sustainability
44:04.8
marketing. We're supporting
44:07.0
this so that we can walk the talk,
44:09.2
in promoting sustainability
44:10.8
and, of course, highlighting the
44:15.1
Talking of AI, how big is an
44:16.9
influence? Is AI as an influence
44:19.2
in what you do right now? We
44:20.7
talk about technology, of course, enhancing everything.
44:23.7
We've had marketing
44:24.9
professionals also on the show the other day
44:27.0
and they were telling us the same thing.
44:28.8
This is a big challenge. It is something that they
44:30.9
can use to their advantage, though.
44:32.6
So, how do you teach that to your practitioners?
44:36.9
collaborated with Global AI.
44:39.2
Council, teaching
44:41.2
the marketing people
44:47.9
fasten their work
44:54.6
Okay. Now, a lot of these technologies,
44:57.4
the new things that we're doing,
44:59.2
education plays a very central
45:02.9
What are the efforts geared towards
45:05.2
making sure that the next
45:07.2
generation marketing professionals
45:09.2
are ready to take on these challenges
45:15.0
Actually, this coming June
45:16.8
22, EVP, you may share the
45:18.9
activity that we have.
45:21.3
Yeah. In Philippine Marketing Association,
45:24.7
sustainability. That's why we give
45:33.6
which is tree planting.
45:35.1
That's part of the sustainability.
45:37.6
Another one is our
45:39.2
marketing conference. It's
45:40.9
highlighting the next generation,
45:45.7
study and educate
45:49.2
more of the marketers
45:51.4
on how to deal with the next
45:53.1
generation, which is who are
45:56.7
and Alpha generation. These are
45:59.2
really challenging generations
46:01.2
that we have to deal with, but
46:03.2
because of the AI and
46:05.1
technology that's in front of all
46:08.8
marketers right now, we have to face
46:11.9
certified professional marketer
46:14.7
Asia, we are going global
46:17.0
on this, especially
46:18.8
in dealing with the youth,
46:21.3
which is the anchor
46:24.4
academia project,
46:27.0
the strategic marketing conference
46:30.9
which is happening sometime,
46:36.2
July or August this year.
46:38.8
So, so many activities
46:41.3
and projects that we are offering
46:43.0
to the Filipino marketers
46:44.8
this year with our theme
46:46.8
sustainability with emphasis on
46:49.9
All right. Now, going back to Kathy
46:51.8
now, you know, marketing profession,
46:53.8
as with any other industry, can thrive
46:56.7
where there is a conducive environment
46:59.4
for the practice or for the profession.
47:01.9
How would you describe those conditions in the
47:03.6
Philippines in terms of government
47:06.0
policy? Do you have sufficient support?
47:08.8
Yes, the PM, actually, the PMA
47:10.8
aims to contribute to the country's economic
47:13.1
development while supporting
47:14.9
the local businesses and
47:16.7
entrepreneur, highlighting
47:18.7
again the AI and the sustainability
47:22.6
In fact, if I may share,
47:26.7
of this year, we are actually the host
47:28.9
of the World Marketing
47:32.3
which will be attended by
47:36.9
or leaders, marketing leaders from
47:40.5
All right. Lastly, ladies, I'd like to get
47:42.6
your insights. It's been 70 years
47:44.7
since the organization has existed and
47:46.7
the marketing profession continues to thrive
47:48.8
in the Philippines.
47:49.8
What are your visions for your group?
47:51.8
Maybe Kathy first.
47:53.9
Our vision is really to help
47:56.8
the marketing professional strengthen
47:59.9
its community engagement effort
48:02.2
and, of course, increasing the partnership
48:04.9
with between the organizations
48:07.0
within the Philippines.
48:09.9
Yeah. Grow the profession
48:12.1
with this inevitable
48:14.4
advent of technology
48:16.4
and artificial intelligence
48:21.1
make the profession
48:24.0
globally competitive
48:26.0
among the Filipino marketers.
48:29.1
And if I may also share,
48:31.2
there's an Agora Awards
48:32.7
that we're doing every year
48:36.3
that is actually the
48:39.6
the marketeers in the
48:42.2
Philippines. So, with that
48:44.1
continuous and annual
48:48.4
for all the marketers,
48:50.9
Filipino marketers,
48:53.5
giving platforms to everyone
48:58.1
whatever education we have
49:00.1
as marketers and become
49:01.8
responsible game changers
49:06.9
companies as well as the
49:09.8
companies in the Philippines and contribute
49:12.0
to nation building and economic development
49:14.2
through sustainable
49:15.6
and responsible ethical marketing
49:19.7
Mitch Ballesteros, Executive Vice
49:22.2
President of Philippine Marketing Association
49:23.9
and Kathy Mercado, President
49:25.9
of Philippine Marketing Association. Thank you so much for
49:27.9
this conversation.
49:30.1
Thank you, everyone.
49:34.0
the digital payments firm Visa
49:35.8
finds Filipino concert goers
49:37.7
are spending more during
49:39.8
their overseas travels.
49:41.7
As if to maximize their trip, Visa says
49:43.6
concert attendees from the Philippines
49:48.1
than non-concert goers
49:50.2
from the January to March period.
49:52.6
These spending went
49:53.8
care to guess on luxury retail,
49:56.0
apparel and accessory shopping.
49:58.9
Visa says this trend
49:59.9
is driven by various popular acts
50:01.6
in Southeast Asia. It also notes
50:05.8
Filipinos plan more leisure trips abroad
50:08.0
in the next 12 months.
50:10.3
Top destinations are Japan,
50:12.3
South Korea and Singapore.
50:16.4
And we wrap up the news
50:18.0
with this story in sports.
50:19.8
Denver Nugget Setter Nikola Jokic
50:21.7
becomes the best player in the
50:27.6
has been named the league's most valuable
50:29.8
player for the third time
50:31.7
in four years. The Serbian
50:33.7
athlete beat the Oklahoma City
50:35.8
under Shea Gilgios Alexander
50:37.8
and the Dallas Mavericks took a donchage
50:39.7
for the honor. That's after averaging
50:41.7
about 26 points and grabbing 12
50:43.8
rebounds per game in the
50:45.9
NBA regular season.
50:47.6
His win marks the sixth straight year
50:49.7
that a player who was not born in
50:51.6
America has claimed the coveted
50:53.7
award. Jokic was taken
50:55.7
with the 41st pick in the
50:57.6
second round of the 2014
50:59.2
NBA draft. He is the
51:01.5
lowest draft selection ever
51:03.4
to win the award.
51:08.0
are the latest in all things business. I'm Denise
51:09.9
Insay. You can watch highlights, recaps
51:11.9
and exclusive content of our shows
51:13.9
online. And I'm Stanley
51:15.7
Palisada. Subscribe to the ANC YouTube
51:17.7
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51:21.9
for another edition of the Business Roadshow.
