03:00.0
The Filipinos have been seeking more value
03:02.1
now in what they've purchased.
03:05.3
So they're now carefully reviewing
03:09.0
the brands that they buy,
03:10.0
that it's going to be worth their budget.
03:20.1
usually they think that
03:21.5
it has to be scale fast,
03:24.1
fail fast, but not in the EV play.
03:26.9
It's not as easy as
03:30.0
We train our current driver
03:31.9
from those from ICE driver,
03:33.8
we train them to become an EV driver.
03:37.7
We have to train our driver
03:38.8
on how to use the EV
03:39.9
so that we can fully utilize
03:42.4
and maximize the efficiency
03:45.3
I think I'm the only crazy guy
03:47.6
who shifted to EV
03:48.6
when everybody's still doing the ICE model.
03:52.7
Of course, I will be bracing that
03:54.0
there will be more players
03:56.1
coming into this space.
04:00.0
Once you have the ideas,
04:06.0
it's taking the ideas
04:07.7
and then selecting one to go forward with
04:09.7
and then testing that.
04:11.1
When we say test, really it comes down to
04:13.1
what we call prototyping stage.
04:15.4
With any idea, there's lots of assumptions
04:17.3
in there and most of the
04:18.8
assumptions have to do with
04:20.6
what we call the desirability of the idea.
04:24.9
Really, the best way to do this is to break it down
04:27.3
into small experiments. They're experiments
04:29.0
that you can run.
04:30.0
Creating simple mock-ups,
04:32.0
printing brochures, running simple ads.
04:34.9
You shouldn't lose sight of the fact
04:36.4
that you should be putting as much emphasis
04:38.6
on trying to figure out
04:40.4
what do you do next.
04:54.9
He's with several leaders of economies today.
04:57.6
Reminded APEC leaders to focus on
05:00.0
We have covered the journey of our young democracy.
05:21.4
In ANC, we were witnesses
05:22.8
to the defining moments
05:24.2
of Philippine history
05:25.8
that influenced the world.
05:30.0
We talked to leaders.
05:49.8
We don't shy away from difficult conversations.
05:52.7
ANC Leadership Series.
05:55.3
We report about disruption
05:57.5
and how the latest technology and innovation
05:59.9
can be used to improve the economy.
06:00.0
We have changed the way we live.
06:16.0
We've told stories about crisis,
06:18.6
but also about opportunities
06:20.1
that came with it.
06:30.0
This is the Philippines.
07:00.0
And we are the Philippines.
07:16.5
I'm Stanley Palizada.
07:17.4
It's 9 a.m. in Manila,
07:18.5
10 a.m. in Tokyo,
07:19.5
and 9 p.m. in New York.
07:21.7
Asian markets are range-bound trading this morning
07:24.7
ahead of key inflation data
07:26.6
in the region and the United States.
07:29.5
the Philippine Stock Exchange
07:30.7
kicks off from the 6,600 level.
07:35.1
Philippine House lawmakers
07:36.6
open debates on proposed amendments
07:39.3
to the country's rice tarification law.
07:43.9
Jollibee Foods Corporation
07:45.5
off to a strong start to the year
07:47.7
as system-wide sales
07:49.0
and operational efficiencies
07:50.4
push its first-quarter profits up.
07:55.1
And later on the show,
07:56.8
John Clay of Trend Micro
07:58.4
joins us to discuss
07:59.4
the cyber security space.
08:03.6
Oceana Gold Philippines'
08:05.0
President Joan Adachi Katiling
08:07.8
on their stock market debut.
08:12.1
We begin with a look at
08:13.6
morning trade in Asia equities here.
08:16.0
So, yet another mixed open
08:18.5
key consumer data in the region
08:22.2
Traders look to the latest consumer
08:24.0
and producer prices
08:25.2
in the United States
08:26.3
to determine the Federal Reserve's rate path.
08:31.0
big tech earnings.
08:32.6
The week begins with
08:33.9
Tencent and Alibaba
08:35.5
due to report quarterly profits today.
08:38.6
Investors also get to react
08:40.0
to news from Beijing
08:41.2
that it would start selling
08:42.9
ultra-long special sovereign bonds
08:46.5
A look at the board now.
08:48.7
is up six-tenths of eight percent
08:51.1
corporate inflation numbers.
08:53.1
The ASX 200, meanwhile,
08:54.8
is marginally lower.
08:59.4
Look now at financial markets
09:02.1
Investors there took a breather
09:04.9
after three straight weeks of gains.
09:08.1
key inflation readings
09:09.5
and more company earnings reports.
09:12.2
A survey by the Federal Reserve Bank
09:16.1
Americans see inflation
09:20.7
That is still below
09:21.7
the Federal Reserve's target
09:27.3
and consumer market
09:29.4
has been dealing with
09:33.3
over the last four years.
09:35.6
Inflation's gotten down
09:38.0
but it's going to be
09:38.7
incredibly difficult
09:39.8
to get to the Fed's
09:42.5
which is 2 percent.
09:44.5
So we're looking at
09:46.3
three, potentially four percent
09:49.1
annualized inflation
09:50.5
to come out on Wednesday
09:52.2
and the Fed to have
09:54.3
a really difficult time
09:55.9
trying to lower interest rates
10:01.6
a higher for longer
10:04.9
if not 24 months.
10:07.8
the middle of the curve,
10:09.6
three-year out to 10-year
10:14.6
We think those are going to rise
10:16.2
back towards their 5 percent levels
10:19.3
in the fall of 2023.
10:22.4
Taking a look at the U.S. futures now,
10:24.6
they are pointing to a mixed open.
10:26.2
The Dow and the S&P
10:28.4
while the tech heavy now,
10:30.3
three-tenths of a percent.
10:34.1
U.S. Treasury Secretary
10:36.8
warning of a possible
10:37.9
strong Chinese response
10:39.5
against tariff actions
10:42.2
Yellen's remarks come ahead
10:44.4
Tuesday's announcement
10:45.4
of President Joe Biden's
10:47.3
new China tariffs
10:48.4
targeting strategic sectors.
10:50.8
This include a major hike
10:52.2
in levies on electric vehicles.
10:55.5
U.S. officials could reconfigure
10:58.7
imposed under the U.S. Treasury.
10:59.3
Under former President
11:00.7
to be more strategic.
11:02.5
She noted, however,
11:06.4
would narrowly be targeted.
11:08.7
Yellen didn't divulge
11:09.9
more details, though,
11:10.9
of changes in U.S. tariffs
11:13.4
China would be informed
11:15.2
before the new tariffs
11:18.0
Tariff update comes
11:20.1
to contrast his approach
11:22.3
with that of Republican candidate
11:26.1
across-the-board tariffs
11:27.3
that White House officials
11:31.3
to spark inflation.
11:34.7
Now here's a look
11:35.9
at the local corporate headlines
11:37.4
we're watching this morning.
11:38.8
Philippine fast food giant
11:40.9
saw higher quarterly net income
11:44.5
The firm of Tony Tangkatkyong
11:46.3
booked a net income
11:48.1
of 2.7 billion pesos
11:50.1
while revenues were up
11:53.6
Meanwhile, net income
11:54.8
of Lushitan Group
11:56.2
was at 6.42 billion pesos
12:03.7
This growth was driven
12:04.7
by strong earnings
12:06.6
and tobacco businesses.
12:08.5
The Philippine National Bank
12:12.3
while its tobacco business
12:17.5
Philippine 7 Corporation,
12:19.4
7-11 stores in the country,
12:21.2
reported a 21.2% growth
12:25.1
Capitalizing on this growth,
12:26.9
the firm aims to add
12:28.4
4.7 billion pesos
12:29.3
to its total number
12:37.2
The Philippine House
12:38.5
of Representatives
12:39.3
begins plenary debates
12:40.7
on proposed amendments
12:41.8
to the rice tarification law.
12:44.3
This seeks to restore
12:45.8
of the National Food Authority
12:47.4
to sell affordable rice
12:49.4
during emergency situations.
12:52.4
The House Agriculture
12:56.4
believes this will
12:57.3
stabilize rice prices
12:58.5
and reduce the cost of rice.
12:58.6
The Philippine House of Representatives
12:59.3
will address supply issues.
13:02.7
to his Senate counterpart,
13:05.4
to discuss the concerns
13:07.3
over the proposal.
13:12.0
to revisit the law
13:15.7
to act and address
13:20.1
The proposed amendments
13:21.1
have been carefully
13:22.8
so as not to affect
13:26.7
in the rice industry.
13:29.3
Thank you for watching.
13:59.3
To talk to us more
14:00.3
about cyber security,
14:02.0
John Clay of Trend Micro,
14:04.2
the firm which played
14:06.1
in the LockBit takedown.
14:09.0
Welcome to Market Edge.
14:14.6
about that experience
14:15.7
being a crucial part
14:16.9
or playing a crucial part
14:18.0
in the LockBit takedown.
14:20.8
why it underscores
14:23.4
cyber security strategy
14:27.8
Trend Micro has had
14:29.4
of working with law enforcement
14:30.7
around the world.
14:31.9
And in this case,
14:32.8
there's no exception there.
14:34.0
We actually analyzed
14:35.5
their next generation
14:36.7
of ransomware malware.
14:39.9
next-gen version.
14:41.1
But when we gave them
14:42.4
a lot of information
14:45.1
what that allowed
14:46.1
the law enforcement
14:48.0
that information out there
14:49.2
so that other actors
14:51.3
to use that malware
14:54.0
because it's already known.
14:55.6
Everybody knows about it.
14:56.6
We have signatures for it.
14:57.9
We have documents
15:01.1
that can detect it
15:02.9
So it was a great effort
15:05.1
with law enforcement.
15:08.2
of public-private
15:10.1
partnerships like this
15:13.1
as these malicious actors
15:18.1
against businesses
15:18.9
and against consumers.
15:21.8
What are the current trends
15:23.3
in cybercrime today?
15:24.8
You mentioned about
15:27.2
we have a situation
15:28.7
in the Philippines
15:29.5
where attacks are constant,
15:31.4
especially against
15:32.5
government website.
15:35.0
catching up that fast.
15:37.9
Yeah, unfortunately,
15:40.7
has a lot to do today.
15:43.8
malicious actors out there,
15:45.3
adversaries that are
15:47.0
especially the public-facing
15:48.7
websites like government sites.
15:51.5
It's difficult for them
15:52.8
to defend against them
15:53.8
because they can find
15:56.6
of any vulnerability
15:57.5
that's used on them.
15:58.7
They can take over
16:00.7
accounts that are
16:01.6
managing those sites
16:02.6
and then get access to them.
16:05.1
hacktivists today
16:06.2
targeting websites as well.
16:08.7
So it is a challenge
16:10.0
for the defenders.
16:11.4
But the good news
16:12.4
on the defense side
16:16.8
tools that are coming out,
16:20.3
a little bit easier
16:21.9
to defend against
16:23.0
these adversaries' attacks.
16:27.2
takes it upon itself.
16:29.2
to make the world
16:31.1
through continuous protections
16:33.6
and organizations' data.
16:35.4
What is this mission
16:38.1
Yeah, it's never-ending,
16:40.9
It's a 24-hour-a-day job.
16:48.3
against our customers.
16:49.9
We have automated defenses
16:52.1
that go out there
16:53.7
and look for the threats
16:54.7
and bring it to us.
16:56.1
And then we analyze those
16:57.3
and try to figure out
16:58.2
what types of defense models
16:60.0
that we can build.
17:01.2
We've been using AI
17:03.4
so it's nothing new to us.
17:05.0
But it's a big opportunity
17:07.0
for the defense side
17:10.0
So it's used across
17:11.4
all of our platform,
17:13.0
our Vision One platform,
17:14.4
where we can help
17:15.8
organizations understand
17:17.3
their attack surface.
17:18.9
We can assess it.
17:21.0
give them risk scores.
17:22.4
All of those help
17:24.0
basically become better
17:25.8
at defending their network
17:27.2
against these threats.
17:30.4
Now, earlier this year,
17:31.6
Trend Micro Philippines
17:33.7
the transformative role
17:35.4
of generative artificial intelligence
17:37.2
in the cyber threat landscape,
17:39.2
which includes, you know,
17:41.5
which has victimized
17:42.4
no less than President Marcos
17:45.4
Now, how much more
17:46.2
of these sophisticated threats
17:48.6
in the near future?
17:50.9
Yeah, generative AI
17:52.0
will be used a lot
17:54.1
and spear phishing attacks
17:56.0
because you can just ask it
17:57.8
to create a threat.
17:58.2
You can create an email
17:59.1
that's very realistic.
18:01.0
You can have it, you know,
18:02.1
any kind of persona
18:03.0
you want to do it.
18:04.6
any victim you want.
18:06.4
And it will craft
18:07.2
a very realistic email,
18:10.3
that is very difficult
18:12.2
by the general person
18:14.1
that's going to receive it,
18:15.4
employees or people at home.
18:17.7
And so that's going to be
18:18.8
an area that we think
18:20.9
a big problem for us,
18:22.7
especially because
18:27.7
And it will create
18:28.2
and it will do it
18:28.6
very, very effectively.
18:31.3
is business email compromise,
18:33.1
which if you look
18:34.0
at the FBI IC3 report
18:36.2
that's number two
18:37.7
with almost three billion
18:39.9
that targets more
18:41.1
businesses around the world.
18:43.4
And they're going to be able
18:44.3
to use the deepfake technology
18:46.8
the voice cloning,
18:48.6
a lot more realistic
18:49.7
than they have in the past.
18:51.8
But on the good side,
18:54.4
and on the defense side
18:57.0
AI-generated malicious content
19:02.7
how can organizations
19:04.0
protect themselves
19:05.3
from cyber attacks,
19:07.1
Philippine government?
19:09.0
you have, of course,
19:10.4
this evolving threat.
19:13.0
and the capability
19:13.8
of the bad actors
19:15.0
are even getting better
19:17.4
Are there weak points
19:21.5
at least from the government
19:26.2
that need to be addressed?
19:27.0
Are they addressed right away
19:27.8
or aren't we spending
19:29.2
for cybersecurity at all,
19:31.0
at least for government websites?
19:34.4
there's a couple of things
19:35.3
that organizations,
19:36.4
especially government,
19:37.2
can do right now.
19:38.4
assess what they're using today,
19:40.1
but look for a couple of areas
19:41.7
that the malicious actors
19:43.8
are going to target.
19:44.5
First and foremost
19:45.3
is those unpatched systems
19:48.2
and applications.
19:50.0
have a good patch management
19:53.9
virtual patch capability
19:55.4
that they can implement
19:56.5
so they don't have to
19:57.0
put the full patch in place,
19:59.4
but patching is critical today.
20:02.3
is in their accounts.
20:03.8
We need to enable
20:05.1
multi-factor authentication
20:06.7
to all of the accounts
20:08.1
that manage those devices,
20:10.1
manage the websites,
20:11.4
manage the databases,
20:12.9
because that allows you
20:14.3
a much better capability
20:15.8
of protecting that account
20:18.7
The credential theft
20:19.7
is big among the adversaries,
20:23.2
multi-factor authentication
20:27.6
is they need to have
20:28.7
a incident response plan
20:31.1
that they've tested,
20:32.5
they've made sure
20:33.3
that it works properly,
20:35.8
and it has a business continuity plan
20:37.9
in case of disruption
20:40.1
of their day-to-day activities,
20:42.6
the systems that run
20:43.7
their day-to-day operations.
20:47.0
strategies for government
20:48.3
may differ from that
20:49.5
needed by businesses
20:50.3
and organizations.
20:51.2
And in the Philippines,
20:52.6
we have this fintech boom.
20:54.9
It's an adaptation
20:55.8
to financial technology.
20:58.5
the most vulnerable
21:00.3
and highly targeted
21:06.2
What business solutions
21:09.5
or trend micro-offer
21:11.6
and smaller organizations
21:15.0
it's a good question
21:16.7
because financial motive
21:18.9
is the biggest one
21:19.9
that we see out there
21:21.5
They're going after the money.
21:23.6
financial accounts,
21:27.3
are going to be targeted.
21:28.9
what a lot of organizations
21:31.2
trend micro-offers,
21:32.3
I mentioned our Vision One platform,
21:35.5
of doing attack surface
21:40.0
their entire attack surface.
21:42.0
That could be your devices,
21:43.6
your web servers,
21:48.2
we assess all of those
21:49.5
different attack surfaces
21:51.0
and give you a risk score.
21:53.8
we give mitigating
22:02.5
on your attack surface.
22:04.4
implementing those
22:05.5
new cybersecurity platforms,
22:07.7
that's a whole new strategy
22:10.2
that is very often
22:11.7
overlooked today.
22:13.6
so a lot of people
22:14.3
aren't using it yet.
22:15.6
But it is very powerful
22:17.2
and it can be something
22:18.1
that can really help
22:19.8
minimize their risk
22:21.3
of being targeted
22:22.2
by these adversaries.
22:26.4
about personal protection.
22:27.9
what does an ordinary consumer
22:30.9
when it comes to cybersecurity?
22:34.8
consumers should look at
22:37.4
A lot of messages,
22:41.2
are going to come in
22:42.1
with unsolicited.
22:43.4
It'll have an attachment
22:51.9
from people they know.
22:53.7
they should be very careful
22:57.6
The other thing is,
22:58.4
there are free applications
23:00.1
that they can install
23:02.5
on their mobile devices.
23:04.3
Those security applications
23:07.1
Trend Microcheck is,
23:13.5
it can block phone calls,
23:15.0
it can look at your email
23:19.6
I think consumers
23:20.4
need to look at that.
23:23.5
as part of the consumer
23:26.2
your critical data,
23:35.2
of Threat Intelligence,
23:38.3
thank you so much
23:38.8
for this discussion
23:40.2
Have a great day.
23:42.0
Thank you, Stanley.
23:42.8
Have a great day.
23:45.5
the Philippines seeks
23:48.7
a national food hub
23:49.9
in Clark, Pampanga.
23:51.9
A Philippine delegation
23:52.8
including officials
23:53.7
from the Clark International
23:54.9
Airport Corporation
23:55.9
visited Amsterdam
23:58.2
to learn best practices
23:59.9
from the second largest
24:01.0
exporter of agricultural
24:02.4
products in Europe.
24:07.5
the right product
24:11.1
of modern technology.
24:13.4
President Ferdinand Marcos Jr.
24:15.1
gave the green light
24:15.9
to the Trade Department's
24:24.9
Now, the 8.5 billion
24:29.9
to be the country's
24:30.8
premium wholesale market
24:32.2
and distribution source
24:41.9
behind Mega Sardines
24:44.3
the powdered drinks industry,
24:48.9
Filipino instant coffee
24:50.0
brand Jim's Coffee Mix,
24:52.0
previously owned by
24:53.2
Gold Shine Pharmaceuticals,
24:56.2
of the acquisition
24:57.1
was not disclosed,
25:00.6
food growth ambition
25:01.5
for the next five years.
25:03.5
The purchase includes
25:04.5
the total portfolio
25:07.2
including its manufacturing arm,
25:11.8
Now, Jim's Coffee Mix
25:13.0
is known for providing
25:14.2
added ingredients,
25:15.3
including ginseng
25:16.4
and agaricus mushrooms
25:18.6
that have health benefits.
25:23.3
The Figaro Coffee
25:24.8
Group bears its game plan
25:26.7
for growth this year,
25:28.0
but nothing much is growing
25:29.5
at its namesake coffee unit.
25:32.1
Instead, it aims to grab
25:34.5
of the pizza segment.
25:36.6
Jackie Pascual has more.
25:39.5
The Figaro Coffee Group
25:41.2
is now focusing more
25:42.4
on expanding its pizza business
25:44.4
rather than its namesake
25:47.3
Its chairman, Justin Liu,
25:48.8
says Angel's Pizza
25:50.1
now contributes 75%
25:53.0
of the company's sales.
25:54.8
And he plans to make it
25:56.0
the number one pizza chain
26:02.7
because that's where
26:04.0
a lot of the sales
26:10.1
and also the growth potential.
26:17.9
only has some 60 branches.
26:22.6
to add new Figaro cafes.
26:24.8
But the coffee business
26:27.9
as lucrative as before.
26:31.9
competitive industry
26:33.2
and a very low barrier
26:36.5
Anyone can just open
26:38.6
and people are actually
26:41.4
you're seeing people
26:43.3
large coffee brands.
26:45.4
The delivery business
26:46.8
has also grown significantly
26:48.4
since the pandemic.
26:50.5
among all its restaurants,
26:52.4
it is the pizza business
26:53.7
that has bettered
26:54.8
and benefited the most
26:56.9
Over 50% of sales
27:01.9
But they also want
27:03.1
to expand its dine-in service
27:08.5
Yung mga provincial
27:13.1
like dito sa Manila
27:16.1
pwede rin sa BGC,
27:18.5
ng mga small parties.
27:21.0
1.3 billion pesos
27:23.0
in the first quarter
27:32.4
Now, consumer finance firm
27:34.4
planning to expand
27:35.3
its reach to more
27:36.2
provinces in the Philippines.
27:42.8
installment purchases.
27:45.0
returns with the report.
27:48.1
Consumer finance company
27:49.8
Home Credit Philippines
27:51.2
is eyeing further growth
27:54.2
10 million customers
28:00.0
It says the company
28:00.9
has disbursed loans
28:02.3
worth 320 billion pesos
28:06.5
as more Filipinos
28:08.1
opt for installment purchases.
28:11.8
partners with shops,
28:14.4
and computer stores
28:17.5
to pay installment
28:18.7
through the company.
28:20.3
Mababa talaga yung penetration
28:21.5
of course ng credit card
28:22.8
and even of course
28:25.3
formal bank accounts
28:26.7
medyo hindi rin ganun
28:28.3
kaganda yung penetration
28:29.3
natin sa Philippines.
28:30.4
Kailangan pa rin talaga
28:33.5
ang access to credit
28:35.4
especially if you're
28:38.4
5,000, 10,000 pesos.
28:40.2
Mahirap talaga maglabas
28:41.2
ng isang bagsakan.
28:44.9
of goods were sold
28:47.0
and half of the products
28:48.6
sold are mobile phones,
28:56.5
a significant growth
28:58.5
of air conditioning units.
29:00.8
That's over 1,000 units
29:04.4
This was the time
29:10.9
making it affordable
29:15.8
and just that they can
29:16.9
they can feel cool
29:18.8
even in the hot summer
29:20.4
in the Philippines.
29:21.5
Aside from air con,
29:25.0
to purchase televisions,
29:31.3
get easily approved.
29:33.7
supporting people
29:36.1
that they cannot afford.
29:37.6
responsible lending.
29:39.0
Non-performing loans
29:40.4
they say is below 10%.
29:43.4
to expand to more
29:44.2
provinces outside
29:53.1
Now here's a look
29:54.6
at the other stories
29:55.5
we're tracking today.
29:56.9
The Asian Development Bank
29:58.1
kicks off this morning.
29:59.8
It's Asia and the
30:00.8
Pacific Transport Forum
30:02.1
which will focus on
30:06.7
such as climate change
30:08.0
and sustainable development.
30:11.9
the Philippine Justice Department
30:13.8
a preliminary probe
30:16.0
illegal financial activities
30:18.0
of MFT group of companies
30:20.6
and foundry ventures.
30:24.1
President Ferdinand Marcos Jr.
30:26.2
the partnership announcement
30:28.4
Cerberus Capital Management
30:34.2
We're taking a quick break now.
30:36.4
the opening numbers
30:37.3
at the Philippine Stock Exchange
30:39.6
of Eagle Equities.
30:41.8
we'll be right back.
30:53.1
We'll be right back.
31:23.1
We'll be right back.
31:53.1
We'll be right back.
32:23.1
We'll be right back.
32:23.1
We have allowed more
32:24.7
transportation to come out.
32:26.8
That's going to prove
32:28.0
to be better for demand.
32:31.0
the health protocols,
32:32.8
the ability of people
32:34.2
will likely contribute
32:35.4
better to growth.
32:53.1
We'll be right back.
33:23.1
We'll be right back.
33:53.1
We'll be right back.
34:23.1
And Philippine police
34:24.6
investigate an alleged breach
34:26.3
in their logistics,
34:27.4
data information,
34:28.4
and management systems.
34:31.9
Now time to sift through
34:33.3
some of the top headlines
34:34.6
for major business papers today
34:36.0
from Business World.
34:37.2
Moody's Analytics saying
34:38.6
the Philippine Central Bank
34:39.7
could begin cutting rates
34:41.1
by the third quarter.
34:42.8
But that would still depend
34:44.1
if the country's inflation rate
34:45.9
continues to stabilize.
34:47.8
From Business Mirror,
34:49.4
German firms in the Philippines
34:50.8
identify some risks
34:52.1
that they believe
34:53.1
could affect growth
34:55.8
economic policy conditions,
34:58.9
and supply chain disruptions.
35:01.5
And from Philippine Star,
35:03.3
now the total assets
35:04.3
of Philippine banks
35:05.3
hitting 25 trillion pesos
35:07.4
in the first quarter.
35:08.2
That is higher by 10%.
35:10.8
Philippine shares saw
35:14.1
a positive session on Monday
35:15.6
as investors cheered
35:18.3
a new initial public offering
35:20.1
and await the central bank's
35:21.7
rate setting this Thursday.
35:27.0
to close at the 6600 level.
35:31.2
Now for his market guidance
35:32.6
and more we have with us
35:34.5
He's the president
35:35.0
of Eagle Equities.
35:39.3
Good morning Stanley.
35:41.6
Banco Central likely
35:42.7
announcing steady rates
35:45.7
Although Moody's Analytics
35:46.9
is seeing possible cuts
35:48.4
by the third quarter
35:50.2
inflation numbers
35:51.9
the peso's weakness.
35:53.8
the same view Joey?
36:09.9
a big contributor
36:16.9
Things are slowing down
36:20.3
there are no new constructions.
36:27.8
they're just finishing
36:42.6
will have to come down.
36:44.0
Although when interest rates
36:46.9
if America's rates
36:57.4
with the inflation rate
37:02.1
will have to come down
37:05.2
international rates.
37:11.3
that we're already
37:12.5
maintaining these rates
37:15.0
currency differential
37:17.1
if you talk about
37:19.0
fighting inflation
37:20.0
and increasing rates
37:23.7
that sense as well?
37:27.3
we really have to
37:29.0
with international markets.
37:31.8
We cannot do it alone.
37:33.1
We are not an island
37:37.6
move our own rates
37:41.9
our own inflation.
37:49.5
we live in a world
37:56.1
still on the subject
37:57.9
falling to 17-month
37:59.5
lows in recent weeks.
38:01.1
That is of course
38:04.7
as it has to keep
38:06.2
that differential.
38:07.3
what about increasing rates
38:08.6
this time for currency
38:09.7
protection, Joey?
38:14.0
weakness persists
38:17.3
what might happen
38:23.3
to lower rates soon,
38:27.0
is that we will not
38:27.8
follow immediately
38:31.4
will strengthen a bit
38:33.2
inflation can come down
38:36.7
Let's talk about markets now.
38:38.1
Philippine shares
38:41.2
catapulting it back
38:44.5
We will know in a bit
38:45.9
if that is sustained.
38:48.1
transactions though
38:52.4
What did Bargain Hunters
38:53.4
pick up yesterday,
39:02.2
I think it's a good
39:06.5
that those that sold
39:15.7
It doesn't go up.
39:18.8
sell-off yesterday.
39:27.6
is to take advantage
39:35.2
the dividend yield.
39:40.8
it could possibly go
39:43.5
directions today.
39:47.9
above listing price
39:55.1
stabilizing at around
40:00.5
but one may attribute
40:03.5
Economists are pointing out
40:07.5
under this market.
40:09.0
What do you think?
40:10.4
too spooked right now
40:11.5
to even patronize
40:12.5
debuts at the bourse?
40:15.0
the problem really
40:16.1
is the experience
40:20.6
over the previous
40:26.9
from the middle of...
40:28.4
MEDIC started that trend
40:30.0
if I'm not mistaken.
40:32.0
Even before MEDIC,
40:34.1
were performing already
40:57.1
are you still there?
40:59.7
Are you still there, Joey?
41:05.2
We'll try to call him back later.
41:07.4
we now have today's
41:09.0
at the Philippine Stock Exchange.
41:11.7
opened flat this Tuesday
41:13.1
still at 6,600 level.
41:16.9
is at 147 million pesos
41:27.2
We have Joey back
41:32.5
Yeah, we were talking
41:36.2
IPO in the mining sector
41:37.7
in at least 12 years.
41:39.0
I think the last time
41:51.5
Can you hear me now?
41:55.2
Now, that counter
41:55.9
is continuously challenged.
41:57.2
I mean, mining and oil
41:58.4
these days from demand volatility.
42:00.5
Of course, you have
42:01.1
global commodity markets also
42:03.3
and even the peso weakness
42:04.8
affecting mining.
42:05.8
Now, how do you see
42:06.3
that sector recovering
42:07.4
in the next couple of
42:10.8
You know, I think what
42:11.8
there is some hesitancy
42:13.9
really in the mining sector
42:15.9
previous administrations
42:25.4
under President Duterte,
42:27.9
the former DNR Secretary
42:31.1
Lopez came down hard
42:40.5
there's this really
42:41.3
this apprehension
42:56.2
this industry needs
43:02.4
government is going to
43:05.6
promote this sector
43:13.2
rather than try to
43:14.6
prevent it from growing.
43:18.1
This sector, you know,
43:24.0
about the Philippines
43:25.0
being rich in natural resources.
43:33.8
when he goes to school,
43:35.8
the Philippines is rich
43:36.8
in natural resources.
43:38.3
But the problem is
43:40.3
out of the ground
43:41.0
because of all of these
43:43.4
all of these environmentalists
43:45.7
who care more about
43:46.6
the monkeys in the forest
43:47.9
rather than the people
43:51.3
make their living
44:01.2
the current administration
44:03.8
do something about
44:06.1
changing this perception
44:21.9
unique to that sector.
44:24.4
seeing also reforms.
44:26.5
A lot of investors
44:29.6
to be more consistent
44:30.5
with its policies.
44:32.9
let's talk about markets now.
44:35.4
the volatility continues.
44:36.9
We're still on a downtrend.
44:39.0
is this kind of market,
44:40.9
for retail investors
44:45.0
we have smaller investors
44:46.2
stuck at higher price ranges
44:51.3
and falling knives,
44:52.5
catching falling knives,
44:54.5
under false assumptions,
44:56.9
on specific stocks.
44:58.3
how do you guide them over?
45:00.2
What is the guidance now
45:01.5
for this kind of market
45:04.0
volatility of prices
45:06.2
and can remain low,
45:10.6
I just tell my clients
45:15.6
are at their peak.
45:25.8
if these dividends
45:28.1
will become higher
45:37.3
remains the same,
45:45.8
they will look higher.
45:47.2
If it looks higher,
45:49.0
price of the stock
45:53.2
you will make money
45:59.9
listed looks okay.
46:08.2
even the blue chips
46:19.4
Not below pandemic,
46:31.9
a little more than 13 pesos.
46:35.3
for the first quarter
46:36.1
as well as we just
46:38.3
For PNB at least.
46:41.1
two times earnings.
46:43.8
And at book value
46:48.6
26 peso market price,
46:50.8
really a bargain already.
46:53.4
Really a lot of bargains
46:54.4
under this market.
46:56.2
your outlook for the week.
46:57.3
Any chance of a continuation
46:59.3
that we experienced
47:00.2
in the past three months
47:02.5
at lower levels now?
47:13.1
but I don't think so.
47:21.2
in the 6,600 again.
47:23.1
President of Eagle Equities,
47:24.3
thanks a lot for joining us
47:25.6
for those insights.
47:30.6
We're taking a quick break now
47:31.7
and when we come back,
47:32.4
we discuss the first
47:33.1
initial public offering
47:34.1
at the PSE this year
47:35.4
by Oceana Gold Philippines.
47:37.7
Joanna Datsi-Catiling
47:41.1
we'll be right back.
47:50.4
We'll be right back.
48:20.4
We'll be right back.
48:52.2
That's going to prove
48:53.4
to be better for demand.
48:56.4
the health protocols,
48:58.2
the ability of people
48:59.7
will likely contribute
49:00.8
better to growth.
49:20.4
We'll be right back.
49:50.4
We'll be right back.
50:05.8
You're still with Market Edge.
50:07.5
Our next guest this morning
50:08.7
is from the first company
50:11.2
Philippine Stock Exchange
50:12.9
It's also the first
50:14.2
Philippine mining firm
50:15.8
in over a decade.
50:16.9
Let's discuss how
50:18.1
Oceana Gold Philippines
50:19.2
has stock market debut.
50:22.2
with its President
50:25.8
Hi, Attorney Joanne.
50:29.4
Good morning, Stanley.
50:30.6
Morning to all your viewers.
50:32.1
Congratulations again
50:33.1
with the initial public offer.
50:34.5
What are your insights
50:35.3
from this experience so far?
50:37.6
Well, it has been
50:38.3
quite a journey, Stanley.
50:39.7
Being a curtain racer
50:41.9
of course, though.
50:43.4
it is a milestone
50:44.1
for us in Oceana Gold Philippines
50:46.2
and the GDP mine.
50:48.0
we are the first ever
50:49.2
financial company
50:50.4
or technical assistance
50:51.4
agreement holder.
50:53.7
to go into operations.
50:57.0
initial government share.
50:58.1
And look where we are now.
50:59.5
The first one to list.
51:00.9
And the Philippine Stock Exchange,
51:02.4
what, over a decade, no?
51:04.8
Vis-a-vis the last mining firm
51:11.2
Now, Attorney Joanne,
51:12.7
what are the growth prospects
51:13.8
now for Oceana Gold Philippines
51:16.9
I mean, how it proceeds
51:18.0
from this fundraising
51:20.4
Level of operations now?
51:22.2
Oh, well, of course,
51:23.2
this is secondary offering.
51:25.2
The proceeds are going
51:26.4
to the parent company
51:28.1
that sold the shares.
51:30.3
And we've explained that
51:32.4
because there have been
51:33.1
a lot of inquiries.
51:34.4
all 100% secondary?
51:36.8
And we have to explain
51:37.8
that this is really,
51:40.0
our listing is really
51:41.6
to the Philippine government
51:42.8
as a government's partner
51:44.6
in this mining project
51:46.5
to provide opportunity
51:48.1
to Filipino investors
51:49.3
to be part of the project.
51:50.3
This is the growth story.
51:52.4
And Oceana Gold Philippines
51:54.1
does not really need
51:55.0
that added capital
51:56.4
because we do already have
51:59.2
for our continued operations.
52:00.8
And whatever we need
52:03.4
by the operations.
52:04.4
So, the entire proceeds
52:05.3
are actually going
52:06.1
to the selling shareholder.
52:09.8
for Oceana Gold Philippines,
52:12.6
We're very excited
52:13.6
about the exploration prospects.
52:18.5
the details of the project.
52:20.3
We're looking at the details
52:20.7
being open at depth.
52:22.7
So, we are investing
52:23.6
3 million to 5 million US dollars
52:25.9
for our exploration program.
52:28.8
So, not only are we going
52:30.0
to look at the DDPO Mine,
52:33.2
but also at nearby
52:34.6
regional exploration targets
52:38.5
within our permit area.
52:40.4
So, a lot of things.
52:41.6
There's also the optimization study
52:42.9
that we're working on
52:44.8
that would enable us
52:46.1
to bring more higher grade
52:50.3
So, lots of things
52:51.3
coming our way, Stanley.
52:53.4
And I think you have
52:54.4
a few good things as well
52:57.0
At least gold prices
53:00.5
What is your outlook now
53:02.2
as investors are still,
53:03.5
you know, veering away
53:04.8
from the riskier assets
53:06.1
and leveraging on
53:07.3
safe havens like gold.
53:08.8
So, how is that prospect
53:11.6
Well, I think it's very attractive.
53:13.2
It is looking good.
53:14.8
Definitely, we're benefiting
53:15.9
from the price going up.
53:21.4
Let's talk about DDPO Mine now.
53:23.3
How much yield are we seeing
53:25.1
from DDPO as of the moment?
53:27.6
And how does the company plan
53:28.8
to help, of course,
53:29.9
communities around the mine site?
53:33.5
Well, for this year,
53:35.4
125,000 to 135,000 ounces of gold
53:40.6
and 12,000 to 14,000 tons of copper.
53:44.6
That's our guidance for the year.
53:49.0
this year, actually,
53:50.0
it's a very good year
53:50.8
for our local governments,
53:52.1
Stanley, this year.
53:53.4
Record-breaking, no?
53:54.9
We're paid 425 million pesos
53:57.6
for local business tax.
53:59.2
That's 100 million pesos more
54:02.2
local business tax.
54:03.4
Again, it shows, no?
54:04.7
With good production,
54:05.9
with good metal prices,
54:07.6
even our local government units
54:11.2
we paid our additional government share
54:12.9
first ever from an FTA holder
54:14.9
and in the Philippines
54:16.1
of 1.13 billion pesos
54:19.2
to the Philippines.
54:20.8
Plus, another billion,
54:22.7
close to a billion
54:25.4
again, with good production,
54:27.4
very good working relationships
54:28.7
with our local government units,
54:30.6
very supportive local stakeholders
54:32.5
and government and regulators,
54:34.5
we're able to achieve
54:35.3
all of these things
54:36.0
and be able to share benefits
54:38.9
Yes, Atty. Joanne,
54:39.7
when you talk about
54:40.3
425 million in taxes,
54:42.1
how many local governments
54:43.4
are actually benefiting from this?
54:45.8
So, this is local business tax.
54:47.3
So, these are just the municipalities
54:48.4
and happy to share this.
54:50.3
there are actually three municipalities.
54:52.9
we gather around three mayors
54:54.5
and they agree to share
54:56.1
the local business tax.
54:59.5
You know, Atty. Joanne,
55:01.8
is seen, of course,
55:02.9
as a strategic dividend play.
55:05.1
We had an interview a while ago
55:06.3
with Joey Rojas of Eagle Equities
55:09.1
and he was saying that
55:10.2
a lot of investors
55:12.1
are not looking for safe havens.
55:13.8
At least, getting into stocks
55:15.4
that pay good dividends.
55:17.5
Now, what kind of dividend values
55:19.6
for your new investors?
55:22.3
Well, we have shared,
55:23.8
I think, even our prospectus
55:25.3
that we're looking at targeting
55:26.7
this 90% of our cash flow
55:30.7
going to dividends
55:31.9
to our shareholders.
55:32.6
Of course, subject to metal prices
55:35.0
and our market conditions.
55:38.7
But the target is that
55:40.3
this be paid quarterly
55:43.4
And we're looking at
55:46.4
our first post-listing dividend
55:49.6
our second quarter results.
55:54.2
it's hard not to talk about
55:56.0
when the subject of mining comes up.
55:59.2
there's rising sentiment
56:02.6
growing environment consciousness as well.
56:04.9
But what is your assurance
56:05.9
that the company is compliant
56:07.3
with all policies
56:09.0
dictated by the Department of Environment,
56:11.4
Natural Resources,
56:12.9
and other initiatives
56:13.9
that would also promote
56:15.2
the preservation of the environment
56:16.7
in the areas where you operate?
56:19.6
Yes, you're right, Stanley, no?
56:22.2
We are operating in an industry
56:24.6
where it's very important
56:25.9
that our commitment
56:27.6
to protecting, preserving,
56:29.0
mitigating the impacts
56:30.2
on our environment
56:31.0
is actually a daily thing.
56:32.5
And at Oceana Gold,
56:34.0
we're proud to say that
56:35.2
we abide by the highest standards.
56:38.2
we actually have a department
56:39.5
that does continuous improvement.
56:41.3
We look at ways by which
56:43.0
we can more efficiently operate
56:46.1
and that we're able to better mitigate
56:48.0
our impacts to the environment.
56:49.5
There's, of course,
56:50.4
a lot of funding also going
56:51.8
to the implementation
56:52.8
of environmental work programs.
56:57.0
that has been set aside.
56:58.3
Yes, this is supposed to be
56:59.5
the Environmental Management Fund.
57:02.0
Please tell us more about it.
57:05.5
there are two different funds.
57:06.7
So there's a fund
57:07.5
that is being utilized
57:09.5
progressive rehabilitation,
57:12.3
the various environmental programs
57:15.8
we are actually already mandated
57:17.7
to set aside funds.
57:19.5
For the final mine rehabilitation
57:21.8
and decommissioning.
57:24.5
of closure already,
57:26.4
that's already been allotted.
57:28.6
it's close to 400 million,
57:30.3
300 to 400 million pesos already
57:32.7
that has been segregated
57:34.3
and allocated for
57:36.5
final mine rehabilitation fund.
57:40.3
already being built
57:41.3
and being prepared.
57:44.0
Joanne Adacica Tiling
57:45.8
of Oceana Gold Philippines.
57:47.0
Thank you so much
57:48.0
for this conversation.
57:49.0
And congratulations once again.
57:51.3
Thank you, Stanley.
57:54.3
A strong denial from China
57:55.8
over its alleged reclamation
57:57.2
attempt in Escoda Shoal.
57:59.2
Beijing's foreign ministry
58:00.6
calling the accusations
58:01.7
from Manila fabricated
58:03.5
and purely groundless.
58:05.7
See, the Philippine Coast Guard
58:07.0
reported what it called
58:08.3
the sorry state of Escoda Shoal
58:10.7
due to coral dumping.
58:12.4
It suspects the activity
58:13.7
could be a prelude
58:15.2
to island building.
58:16.6
Now, China, though,
58:17.4
is accusing the Philippines
58:18.5
of trying to mislead
58:19.8
the international community
58:21.0
by spreading rumors.
58:24.4
it vows to intensify
58:26.6
to deter Beijing's
58:27.9
illegal activities.
58:31.9
by all of this development
58:33.2
at kaya the National Task Force
58:35.2
West Philippine Sea
58:36.0
led by Secretary Año
58:37.1
has already directed
58:38.5
mas maigting na pagbabantay
58:40.7
sa lahat ng mga features natin
58:43.3
at lahat ng mga features
58:44.5
within the West Philippine Sea
58:46.4
within our 200 nautical miles
58:48.5
of the economic zone.
58:49.5
Kasi wala pong magbabantay dyan
58:52.0
It is our responsibility
58:54.0
under international law
58:55.6
nabantayan at siguruhin
58:57.4
na yung environment dyan
58:58.7
at hindi nasisira
59:00.2
at hindi nagkakaroon ng mga
59:02.5
reclamation activities.
59:05.5
China continues to claim
59:06.8
almost the entire South China Sea
59:08.5
despite an arbitral ruling
59:10.3
that already invalidated
59:11.5
its so-called nine-dash line.
59:16.3
The Philippine Immigration Bureau,
59:17.8
denying discrimination,
59:18.4
against Chinese students
59:20.4
The Bureau called for a high-level meeting
59:22.4
of the Interagency Committee
59:24.4
on Foreign Students
59:25.4
to discuss the influx
59:26.4
of Chinese learners.
59:28.4
BI spokesperson Diana Sandoval
59:30.4
meets and insists
59:32.4
they are not targeting Chinese students.
59:35.4
the maritime row between Beijing and Manila
59:37.4
was a key consideration.
59:41.4
There has been changes
59:43.4
with other countries,
59:45.4
particularly China.
59:46.4
Because of that change
59:47.4
in our relations with them,
59:50.4
the way that people are perceiving
59:53.4
the rise in certain nationalities
59:55.4
or where they are in our country
59:59.4
prompts us to look into
60:02.4
the numbers or the activities
60:05.4
of these foreign nationals
60:07.4
a little more closely.
60:08.4
And it also prompts us to
60:10.4
share this information
60:12.4
with the other members
60:13.4
of the Interagency.
60:14.4
I don't think this can be considered
60:16.4
as discrimination
60:17.4
since we are looking into
60:19.4
the numbers that are rising already.
60:22.4
It's really part of
60:24.4
looking into trends
60:26.4
or looking into concerns
60:28.4
that have been raised in the past.
60:30.4
And we all know that
60:32.4
there are a lot of Chinese nationalists
60:34.4
that have been involved
60:36.4
in certain activities
60:38.4
here in the Philippines.
60:41.4
A House lawmaker meanwhile urges
60:43.4
President Marcos to scrap
60:45.4
an executive order
60:46.4
allowing the Immigration Bureau
60:48.4
to convert tourist visas
60:50.4
into student visas.
60:53.4
For the enterprising BID officials,
60:59.4
this is like a money-making scheme.
61:04.4
The expiring visa of tourists
61:08.4
is automatically transferred
61:11.4
to be able to issue
61:14.4
another form of visa.
61:21.4
And before we go,
61:22.4
how does one celebrate
61:23.4
Buddha's birthday?
61:24.4
For one South Korean man,
61:26.4
it's by doing onstage
61:28.4
and playing electronic dance music.
61:30.4
DJ New Gene's name
61:32.4
has been captivating young audiences
61:36.4
with the teachings of Buddha.
61:38.4
His stage name derives from
61:40.4
Sunim, a Korean title
61:42.4
of respect for Buddhist monastics.
61:45.4
And while not a real Buddhist Zen master,
61:47.4
the largest sect of the Korean Buddhism
61:50.4
has gifted a DJ with beads and a headset
61:53.4
asking him to keep spreading hope and happiness
61:56.4
to the younger generation.
62:02.4
And that's it for the show.
62:03.4
I'm Stanley Palisada.
62:04.4
Thank you so much for watching.
62:05.4
You can listen to our interviews again
62:07.4
on the ANC Market Edge podcast
62:10.4
available on Spotify.
62:11.4
You can also watch highlights, recaps,
62:13.4
and exclusive content of our shows online.
62:15.4
Subscribe to the ANC YouTube channel,
62:17.4
like us on Facebook,
62:18.4
and follow us on X.
62:20.4
Stay safe and stay with ANC.
62:41.4
We'll see you next time.
63:01.4
Mobility will be key to recovery
63:04.4
because we have relaxed
63:06.4
some of our quarantine methods
63:09.4
and we have allowed more
63:11.4
transportation to come out.
63:12.4
That's going to prove to be
63:14.4
better for demand.
63:15.4
If we do follow the health protocols,
63:18.4
the ability of people to move around
63:20.4
will likely contribute better to growth.
63:41.4
Thank you for watching.