MANILA, Philippines — Eight Philippine companies made it to Forbes magazine’s inaugural “Asia's 200 Best Over A Billion 2019,” which lists top-performing listed companies in the Asia-Pacific region with revenues of $1 billion or more.
Out of 3,200 listed companies in the region, Ayala Corp., Cosco Capital, GT Capital Holdings, JG Summit Holdings, Jollibee Foods Corp., Megaworld, San Miguel Food and Beverage and SM Investments were among the 200 companies included in Forbes’ new list released Wednesday.
According to Forbes, the firms were evaluated based on “more than a dozen metrics” including their average five-year sales, operating income growth, return on capital, and projected growth over the next one to two years.
It added that the new list was meant to complement its “Best Under A Billion” list — which features 200 best-performing, small and midsized companies in the Asia-Pacific region with less than $1 billion in revenue.
Forbes’ said there were companies that transitioned out of the “Best Under A Billion” list and moved into the “Best Over a Billion” after raising revenues above $1 billion, such as JFC — Philippines' largest food service network operator — as well as China’s Alibaba and Tencent.
Read more: The Philippine Star
MANILA has one of the most conducive start-up ecosystems in the world, as it ranked high in multiple categories of a report assessing the environment for new enterprises.
Along with Taipei, Busan, Calgary and Frankfurt, Manila was listed as one of the top activation phase ecosystems in the world, according to Startup Genome’s 2019 Global Startup Ecosystem Report. The Philippine capital placed 10th in the global competition for Bang for Buck.
It ranked fifth in the activation ecosystem for connectedness, as well as in exit growth index.
Moreover, Manila was sixth across the world in output growth index and ninth in funding growth index. The assessment also put the city’s financial technology (fintech) industry in the spotlight, as it comprised 15 percent of all start-ups.
According to the report, Manila’s fintech transaction value last year amounted to about $5.7 billion and is projected to hit $10.5 billion by 2022.
Read more: Business Mirror
Taipei, Aug. 13 (CNA) Sercomm Corp., a Taiwan-based wireless network and broadband equipment supplier, will increase the ratio of its global production in its factory in the Philippines and lower the ratio in China amid escalating trade friction between the United States and China, Investor.com.tw reported Tuesday.
In an investor conference, according to the report, Sercomm President James Wang (王煒) said his company has set up a third production site in the Philippines after one in Taiwan and another in China, and is planning to raise the weighting of the Southeast Asian country in its global production to 30 percent from the current 20 percent.
The Philippines factory went into operation in the second quarter of this year, the report said.
China will account for 50 percent of Sercomm's total production, down from the current 60 percent, while Taiwan's weighting is expected to remain unchanged at 20 percent, Wang said in the report.
Read more: Focus Taiwan
TASHKENT – This charming Central Asian country of Soviet-era buildings, blue-tiled madrasas and mosaic-covered mosques is many things to many people – a state that was once under Stalin’s shadows, the heart of the fabled ancient Silk Road and home of the world’s best rice pilaf, cooked in more than a hundred ways.
It’s an enigmatic republic with a 3,000-year old history and enthralling ancient stories; some of its cities are evocative, mythical, and straight out of the famed Arabian Nights.
For low key taipan Carlos Chan, Uzbekistan is the next frontier for his sprawling global snack foods empire, the Liwayway Group, which is behind the iconic Oishi brand.
Liwayway is indeed making its foray here, the first Filipino-owned snack foods giant to do so, a move which the Republic of Uzbekistan very much welcomes.
Government officials are excited and the excitement in the air is almost tangible.
Read more: Philippine Star
More than 1,700 exhibitors, including Filipino food firms, joined the 2019 Food Taipei 5-in-1 Mega Expo in Taiwan.
Philippine trade attache to Taiwan Michael Alfred Ignacio said 11 Filipino food and beverage companies joined this year’s exhibition. The Philippine line-up was composed of established companies like Century Pacific Food Inc., Destileria Limtuaco & Co. Inc., Team Asia Corp., Tropicana Food Products Inc. and Grand Asia Integrated Natural Coco Products Corp.
High-innovation companies such as JND Manufacturing Industries Inc., Leonie Agri Corp., Mira’s Turmeric Products, Pasciolco Agri Ventures, Yearluck Food and Industrial Corp. and Yanyan International Philippines Inc. also participated in the Mega Expo which consists of five events—Food Taipei, Foodtech & Bio/Pharmatech Taipei, Taipei Pack, Taiwan Horeca and Halal Taiwan. The Taiwan External Trade Development Council organized the Mega Expo.
Read more: Manila Standard
TAIPEI (Taiwan News) -- Taiwan President Tsai Ing-wen (蔡英文) announced today (Aug. 1) that Taiwan pulled ahead of the rest of the pack of Asia's four tigers in the second quarter thanks in part to total investment by Taiwanese businesses returning from China exceeding NT$500 billion (US$16 billion) so far this year, doubling the original goal for 2019.
On her Facebook page this morning, Tsai wrote: "Taiwan's economic performance is good, everyone continues to fight together." Taiwan's economic growth rate reached 2.41 percent in the second quarter, surpassing rivals South Korea (2.1 percent), Hong Kong (0.6 percent), and Singapore (0.1 percent), according to the Directorate General of Budget, Accounting, and Statistics (DGBAS).
Tsai said the good results were not accidental but are due to three years of patience in adjusting the economic quality of Taiwan. "Starting last year, in response to the trade war between the U.S. and China, we have helped enterprises invest in Taiwan and distribute globally. Now the achievements have started to pour in," wrote Tsai.
Read more: Taiwan News
"So much hard work in coming up with books and instructional materials to efficiently teach the language to young minds had to be exerted."
Over the weekend, the Taiwan government itself reported that the Philippines had received the highest growth rate for outbound tourists from Taiwan, at 55.42 percent for the month of June and 30.60 percent for January to June departures compared to the same period last year.
With a population of only about 23 million, our own Department of Tourism identified Taiwan as the sixth major source of tourists into the country. In fact, I was told that boat operators and service-oriented workers in El Nido in Palawan already know certain phrases in Mandarin as a result of their close and frequent interaction with Taiwanese tourists.
Even airlines are capitalizing on these gains, adding more flights to and from the island. Just this week, AirAsia announced that it is opening routes from the south, in Kaohsiung, flying passengers directly to Clark or Cebu. Just about six months earlier, Tiger Air likewise opened flights to Clark, offering more options for Taiwanese tourists.
Read more: Manila Standard
MANILA, Philippines–Leading canned food producer Century Pacific Food Inc (CNPF) grew net profit in the first semester by 9 percent year-on-year to P1.7 billion on higher sales and improved margins arising from lower raw material prices and subdued operating expenses.
CNPF — the company behind consumer brands such as Century Tuna, Argentina, Swift and Birch Tree — grew sales revenues in the first six months by 6 percent year-on-year to P19.6 billion. This was mostly driven by the branded business, which grew sales by 12 percent year-on-year to a semestral record-high of P15.3 billion, equivalent to 78 percent of the total topline.
The sustained double-digit growth in the branded consumer segment was attributed to stable demand for marine and meat products, as well as the out performance of its burgeoning milk business. Milk, which used to account for just 11 percent of total sales in 2016, now accounted for 22 percent of the business.
Read more: Philippine Inquirer
The government has vowed to give local startups the benefits and incentives provided under recently signed Republic Act 11337 or the Innovative Startup Act.
The new law aims to help startups and startup enablers by providing incentives like travel grants, access to a Startup Venture Fund, and assistance in getting visas and business permits.
Aside from the Department of Trade and Industry (DTI), the Department of Science and Technology (DOST) and the Department of Information and Communications Technology (DICT) are the host agencies to implement the Philippine Startup Development Program, composed of programs, benefits, and incentives for the startup community.
“There is so much entrepreneurial potential, talent, motivation, and optimism of our young population. With the current strong momentum for collaboration between and among government, academe, and industry and the comprehensive fiscal and non-fiscal support of RA 11337, we will be able to grow and develop our startup ecosystem and catch up with our neighbors especially in creating billion-dollar startups,” said DTI undersecretary for competitiveness and innovation Rafaelita Aldaba.
To avail of these incentives, startups and startup enablers have to pass an application and selection process to be determined in the Implementing Rules and Regulations (IRR).
The first meeting to craft the IRR was held July 22 at the University of the Philippines Diliman. Present at the meeting were Aldaba, DOST undersecretary Rowena Guevara and DICT director Emmy Lou Delfin, as well as other officials and representatives from each agency.
Selected startups and enablers will get subsidies for business registration fees. The host agencies will also endorse their applications to be prioritized or expedited. The three agencies will also provide subsidies for use of office spaces, facilities, equipment, services, and repurposed government spaces.
Read more: Newsbytes.ph
Taipei, July 27 (CNA) Four students from the United States, Taiwan, Vietnam and the Philippines won the top prize at a student entrepreneurial pitch competition for tertiary students hosted by National Taiwan University of Science and Technology (NTUST) on Saturday in the country's capital.
The competition was part of "The 2nd Be Young! Beyond! Startup Bootcamp," hosted by NTUST July 21-28, requiring student teams to make an entrepreneurial pitch in front of a jury, which chooses the best team in terms of innovation, creativity, facilitation and business plan.
On this occasion teams were asked to make a pitch on the subject of changing society in order to promote quality of life through innovation and motivating future industrial development through action, according to the event's website.
The competition involved an eight minute pitch followed by an 11 minute Q&A session. There were a total of 15 teams comprising 59 students from universities in New Southbound Policy (NSP) target countries, foreign students in Taiwan and Taiwanese students.
Read more: Focus Taiwan
ABOUT PTIC TAIPEI
The Philippine Trade & Investment Center in Taipei is the Commercial Affairs Section of the Manila Economic and Cultural Office and the representative office of the Philippine Department of Trade & Industry in Taiwan