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00:00.0
Welcome to the program.
00:08.0
Overnight, Wall Street saw deep cuts after hotter than expected U.S. inflation data
00:12.9
and Asian markets are seen as unlikely to stem the bleeding.
00:17.0
Now, America's consumer price index rose to 3.5% year on year.
00:21.4
That is the highest since September and higher than February's 3.2%.
00:26.2
These surprise upticks supported the view
00:28.8
the Fed may hold rates higher for longer.
00:32.1
Also on radar, China's consumer prices rose by a muted 0.1% in March from a year earlier.
00:39.7
That figure is lower than the 7 tenths of a percent rise in February
00:43.8
and the expected 0.4% rise.
00:47.8
Taking a look at the board now, the Shanghai Composite bucking the trend.
00:51.8
It is up to tenths of a percent.
00:53.5
The KOSPI index little changed after South Korea's liberal opposition party
00:58.2
scored last week.
00:58.8
It was a landslide victory in a parliamentary election held on Wednesday.
01:03.9
The ASX 200 closed lower after shedding 4 tenths of a percent,
01:07.8
snapping a three-day winning streak.
01:11.9
Let's take a look at futures in Europe now.
01:14.6
Futures are pointing to a muted open as investors brace for the European Central Bank's policy decision.
01:20.6
The ECB is expected to keep its key rates unchanged,
01:23.7
but traders will be looking out for signals for a June rate.
01:30.0
Stateside now, Wall Street futures are flat ahead of another key inflation report,
01:34.9
the Producer Price Index.
01:38.0
The Philippines looking to generate around $100 billion in investments in the next five years
01:44.8
as a result of the trilateral meeting in Washington.
01:47.9
Manila's envoy to Washington, Jose Manuel Romualde, says
01:51.2
the Marcos administration has made an economic package covering the energy,
01:56.1
semiconductors, cybersecurity sectors, among others.
01:59.4
Meanwhile, Romualde insists that the three allies are not looking to provoke any country.
02:07.2
We know clearly what we want to do,
02:09.4
which is to protect our territory and our sovereign rights.
02:13.0
And so all of these things that we're doing is precisely in that direction.
02:18.9
You know, for so many years, the Filipino patience has been stretched to the limit.
02:24.5
And we're now at the point where are we just going to sit
02:28.8
And allow, see our fishermen suffer?
02:30.8
We just want to be given our right to be able to explore our own environment,
02:39.4
our territory, the respect for international law.
02:46.4
Meanwhile, U.S. National Security Communications Advisor John Kirby says
02:50.7
there is no reason for China to, quote,
02:53.4
overreact to the multilateral strategies happening in the region,
02:57.9
The recent quite derelateral exercises involving the Philippines,
03:02.9
Australia, Japan, and the United States.
03:07.9
This is about freedom of navigation.
03:12.1
It's about adherence to international law.
03:14.0
It's about proving the simple point that we and our allies will fly, sail,
03:22.1
and operate wherever international law permits us to do.
03:27.2
In the South China Sea, and we did.
03:32.8
Now on the eve of the Trilateral Summit, two U.S. Senators introduced a bipartisan bill
03:38.4
to provide Manila with $2.5 billion to boost its defense against Chinese pressure.
03:44.4
The bill was put forward by Republican Bill Hagerty and Democrat Tim Kaine.
03:50.0
It authorizes $500 million a year in foreign military financing to the Philippines over five years
03:57.2
It seeks to help modernize Manila's defense capabilities,
04:01.2
including coastal, air and land defense, maritime security, intelligence, and defensive cybersecurity.
04:08.8
Senators Hagerty and Kaine said it is critical to deepen cooperation with the Philippines
04:13.9
and provide it with support in the face of China's growing aggression in the West Philippine Sea.
04:21.3
U.S. President Joe Biden and Japanese Prime Minister Humeo Kishida,
04:26.2
boosting their cooperation,
04:27.2
Thank you very much.
04:57.2
Thank you very much.
05:27.2
Japan and the United States are united than ever before.
05:33.7
I believe that the Pacific Ocean has brought Japan and the United States together and so close because of the pioneering spirit of those who came before us and frontier spirit that we all have in common.
05:57.2
In other news, Switzerland eyes tougher capital requirements for UBS and three other lenders to prevent a repeat of the 2023 collapse of banking giant Credit Suisse.
06:09.1
The Swiss government on Wednesday unveiled measures on policing banks deemed too big to fail.
06:14.8
The move follows last year's multi-billion dollar rescue of Credit Suisse by rival UBS.
06:20.6
Officials say the government-brokered deal prevented damage to the economy.
06:24.3
But it also created an entity with a balance sheet that is twice the size of Switzerland's annual economic output.
06:32.2
The slew of measures involved strengthening prevention and beefing up the bank's liquidity.
06:38.1
The Swiss government says this would reduce the chances of another significant bank from facing a similar fate of the now-defunct Credit Suisse.
06:49.2
Denise Dinsay now joins us for more economic stories about the Philippines.
06:54.3
Now, the Asian Development Bank lowers its growth forecast for the Philippines this year.
06:59.0
From 6.2, the ADB now expects the Philippine economy to expand by 6%, citing upside risks to inflation for the slight provision.
07:08.8
It said extreme weather events such as El Nino will affect agricultural production and food prices, in turn pushing inflation higher.
07:17.4
Despite the downgrade, ADB Philippines Country Director Pavit Rama Chandran noted,
07:22.5
The country is still among economies expected to grow the fastest in the region.
07:28.0
As a whole, the lender sees developing economies in Asia and the Pacific expanding by 4.9% this year.
07:36.6
BMI, a unit of Fitch Solutions, sticking to its forecast for 75 basis points of rate cuts from the Philippine Central Bank to still materialize in the second half of this year.
07:47.9
This despite sick inflation and bets.
07:51.2
The U.S. Federal Reserve will likely...
07:52.5
...start cutting later and less.
07:55.4
The BSP left its benchmark policy rate unchanged at a near 17-year high of 6.5% just this Monday, despite a second month of acceleration in CPI.
08:06.7
The Banco Central also signaled a possible rate cut delay.
08:10.5
BMI notes the recent uptick is due to upside surprices in food prices and will prompt the BSP to stand pat again on May 16 or until inflation is more firmly anchored within its target.
08:22.5
BMI notes the recent uptick is due to upside surpresses in food prices and will prompt the BSP to stand pat again on May 16 or until inflation is more firmly anchored within its target.
08:23.5
BMI notes the recent uptick is due to upside surpresses in food prices and will prompt the BSP to stand pat again on May 16 or until inflation is more firmly anchored within its target.
08:28.5
It adds that sustained resilience in the economy and weakness in the peso will also mean the BSP will be in no hurry to loosen monetary policy and instead continue taking cues from the Fed and cut rates only when they do so.
08:32.5
It adds that sustained resilience in the economy and weakness in the peso will also mean the BSP will be in no hurry to loosen monetary policy and instead continue taking cues from the Fed and cut rates only when they do so.
08:34.2
cues from the Fed and cut rates
08:36.3
only when they do so.
08:40.2
More Filipinos had jobs
08:42.0
in the second month of the year.
08:44.2
The Philippine Statistics Bureau reports
08:45.9
the jobless rate was at 3.5%
08:50.2
translating to 1.8 million
08:51.8
Filipinos out of work.
08:54.0
The PSA says the underemployment rate
08:55.9
in the said month was the second lowest
08:57.8
since it amended definition
08:59.8
of unemployment in 2005.
09:02.4
This is lower than what was recorded
09:04.0
in January and last year's
09:07.2
According to the PSA, there were also fewer
09:10.0
Filipinos looking for extra
09:11.7
working hours in February.
09:13.2
The underemployment rate came in
09:17.3
than underemployment figures from January
09:21.2
Shortly after the release of the latest jobs
09:23.3
data, Manila's top economist,
09:25.2
NETA Secretary Arsenio
09:27.1
Balisakan, vowed the Marcos
09:29.0
administration's commitment to attracting
09:31.3
more job-generating investments.
09:34.0
Corporate stories now,
09:38.1
Balay ni Frutas more than doubles
09:39.7
its earnings in 2023.
09:42.3
The food and beverage company's
09:43.7
net income stood at 59 million pesos
09:46.2
while revenues were at
09:49.7
Both figures were up nearly 60%
09:53.8
Ibet da also higher despite
09:55.6
headwinds from inflation.
09:57.6
Driving the stronger financial performance
09:59.8
was same-store sales growth
10:01.6
across all Balay brands.
10:04.0
To another food company,
10:05.5
Mondo Nisen, it's reallocating IPO
10:07.6
proceeds worth 228 million pesos
10:10.1
to CapEx of its food and beverage
10:12.3
business in the Asia-Pacific.
10:14.6
Mondo Nisen says the reallocation
10:16.2
is due to underspending
10:18.0
in the friction cost budget
10:20.0
for the IPO. And finally,
10:22.8
VIA Electronics, a
10:24.2
subsidiary of Integrated Micro
10:26.3
Electronics Incorporated,
10:28.0
planning to delist from the New York Stock
10:30.3
Exchange. The Interactive Display
10:32.3
Solutions supplier says,
10:34.0
the move would be economical for the
10:36.0
company amid low liquidity
10:37.6
of its American depository
10:39.8
shares coupled with high costs
10:42.2
of maintaining its listing
10:44.1
status at the New York force.
10:48.8
To the Philippine
10:50.0
Benchmark Index now, the PSEI
10:52.0
closes lower at 66.77.
10:57.1
it went back online
10:58.3
following a two-day holiday break,
11:00.6
value turnover was at
11:01.6
6.7 billion pesos.
11:04.0
Joining us now for his
11:08.2
take on today's trading, we have
11:09.7
Alfred Garcia of AP Securities
11:11.4
Incorporated. Alfred, thank you so much
11:13.5
for being on the show.
11:15.5
Hi Stanley, always a pleasure
11:19.0
Let's walk through the developments
11:20.8
today. U.S. inflation seemingly
11:23.3
hotter than expected with investors
11:25.1
now seeing later and lower
11:27.4
cuts as imminent. Now,
11:29.4
is it safe to say BSP would likely
11:31.3
mirror this? And if so, what does this
11:33.3
mean for Philippines?
11:34.0
We like to think that the BSP
11:39.0
maintains a data-driven
11:40.5
monetary policy that's independent
11:42.5
of what the Fed does
11:43.7
unless it will directly affect the exchange
11:46.6
rate with the dollar. But
11:48.4
with regards to domestic policy,
11:50.5
the BSP has already signaled that
11:52.1
a Q2 rate cut is unlikely
11:54.2
and that even a Q3 rate
11:56.5
cut is still not a given.
11:58.5
So, the longer that the BSP keeps
12:00.4
rates at these elevated levels,
12:04.0
growth will be constrained.
12:06.0
So, I'm afraid that if we don't have a
12:08.0
rate cut by Q3, it will be a stretch
12:10.0
to even reach the lower end of the
12:12.0
government's target of
12:16.0
Okay, and even beyond
12:18.0
government, they're already seeing
12:20.0
that it will in fact affect growth,
12:22.0
the latest of which,
12:24.0
joining the fray is Asian Development
12:26.0
Bank, downgrading 2024
12:28.0
targets for the Philippines.
12:30.0
Now, at about 6%, or it can even
12:32.0
be below that. We have so many
12:34.0
unknowns though. On the macro
12:36.0
front, we don't know how significant
12:38.0
the El Nino would impact
12:40.0
the economy. Do you feel
12:42.0
our growth story now is still intact?
12:46.0
There's a lot of uncertainties
12:50.0
But on the domestic
12:52.0
side, around two-thirds
12:54.0
of our GDP is still driven by
12:56.0
household consumption. And so
12:58.0
far, this has shown remarkable resilience
13:00.0
even when faced with
13:04.0
So as long as domestic consumption
13:06.0
holds up, I think we're fine.
13:08.0
Our growth story could still be intact,
13:10.0
but the trajectory due to the
13:12.0
higher interest rates, the trajectory
13:14.0
is less than optimal.
13:16.0
Alright Alfred, let's talk about the markets now.
13:18.0
Looking at the PSEI, how did
13:20.0
investors react to these
13:22.0
indicators, you know, growth target
13:24.0
revisions, even US inflation?
13:28.0
the markets reacted very
13:30.0
negatively to the prospect of higher
13:32.0
or longer rates. To recall, we entered
13:34.0
2024 with the idea that
13:36.0
rates would start, that the
13:38.0
central bank would start easing
13:40.0
its policy by mid-year, by around
13:42.0
June or May even.
13:46.0
far, it looks like it's been
13:48.0
pushed back and the only sector to stay
13:50.0
strong was the financial sector as
13:52.0
they would stand to benefit from the high rates.
13:54.0
Although this is more of a knee jerk
13:56.0
reaction at this point as
13:58.0
we've already been getting hints
14:00.0
of the policy direction in the past
14:02.0
week or so. So I feel that it
14:04.0
could have been overdone, especially
14:06.0
in certain segments.
14:08.0
Alright, I mean it is in fact a possibility
14:10.0
that you know the market may have been
14:12.0
digesting already all of those hints
14:14.0
that we've had from the
14:16.0
BSP prior to even the release
14:18.0
of the inflation numbers. The
14:20.0
BSP was already saying that it
14:22.0
may be delayed further, it is not
14:24.0
in a hurry in fact to
14:26.0
cut rates and that may have affected
14:28.0
the market and the way we've been trading
14:30.0
in the past few weeks in fact.
14:32.0
Especially during the
14:34.0
downtrend that we've noted at the
14:36.0
PSEI. Now speaking about
14:38.0
downtrend, are you seeing now the critical
14:40.0
support of 6500 getting hit?
14:42.0
And how would you describe
14:44.0
price action today?
14:48.0
We're actually looking at
14:52.0
as a key support.
14:54.0
And it seems that so far it's been holding up.
14:56.0
So far we're still above
14:58.0
the 100-day moving average.
15:00.0
So I would say that the uptrend remains
15:02.0
intact. At this point
15:04.0
we're just a couple of hundred points away from
15:06.0
6500. So you know, why not?
15:08.0
So I actually wouldn't mind the correction
15:10.0
to those levels so we can get
15:12.0
better buying prices.
15:14.0
Okay and if you go by sector
15:16.0
Alfred, we saw 3.5%
15:18.0
dips in counters like
15:20.0
property today at least intraday
15:22.0
led of course by Ayala
15:24.0
Land dropping more than 5%
15:26.0
also intraday. I've not checked the
15:28.0
closing numbers but that has been
15:30.0
you know the size. What is
15:32.0
holding property now or real estate
15:34.0
now and what's holding it down
15:36.0
and is this just because of
15:38.0
the performance of
15:40.0
Ayala Land or there's something fundamentally
15:42.0
negative about the property
15:44.0
sector which has in fact improved
15:46.0
in terms of price
15:48.0
performance, actions and outlook
15:50.0
in the past three months?
15:54.0
For Ayala Land specifically
15:56.0
at the moment we don't have any
15:58.0
publicly available
16:00.0
possible negative drivers.
16:02.0
But in general, the property
16:04.0
sector is the sector that would get hit
16:06.0
the hardest by higher or longer rates
16:10.0
property purchases are typically
16:12.0
funded by them. So it would be
16:14.0
particularly harder to convince
16:16.0
prospective home buyers
16:18.0
to purchase now rather than later
16:20.0
especially since we're seeing rate cuts and
16:22.0
downrides. So Q3 or
16:24.0
Q4 at least we know it's coming.
16:28.0
prospect of lower rates in the future
16:30.0
most likely they will hold off
16:32.0
on buying. But the good thing
16:34.0
about Ali as well as SMPH
16:38.0
a big chunk of their revenues also come
16:40.0
from malls with some
16:42.0
from hotels. And these two segments
16:44.0
have done quite well in the past
16:46.0
quarters despite the higher cost
16:48.0
of living. So these could
16:50.0
underpin the weakness in residential
16:52.0
sales. Alright, speaking of
16:54.0
Ali still, is it a good time
16:56.0
to buy Ali considering that it's been
16:58.0
quite oversold today?
17:02.0
Fundamentally, yes.
17:04.0
I think at these levels, Ali
17:06.0
is quite cheap. Although in the
17:08.0
technical aspect, I
17:10.0
wouldn't recommend
17:12.0
going against the trend. So it's what
17:14.0
we call catching a falling
17:18.0
So I would prefer to
17:20.0
see a bounce first. But fundamentally
17:26.0
could be a buy at these levels already.
17:28.0
Alright, let's talk about participation
17:30.0
now. What do you think is the state of
17:32.0
foreign buying at the PSE
17:34.0
right now? Are you getting a sense that
17:36.0
hot money is again going away from
17:38.0
Philippine markets?
17:40.0
Fortunately, we have seen
17:42.0
some outflows in recent weeks
17:44.0
particularly in the past two weeks.
17:46.0
Around mid-March, we were
17:48.0
very happy when we saw that
17:50.0
it was the longest stretch of debt foreign
17:52.0
buying that we've had since
17:54.0
as far back as I could trace.
17:58.0
I looked back up to 1997.
18:00.0
So that was the longest stretch.
18:02.0
If I recall correctly, it was
18:06.0
So at that point, our year-to-date
18:08.0
net foreign inflows reached around
18:12.0
And now we're just at a small fraction
18:14.0
of that. So it's unfortunate
18:18.0
inflows would come back
18:20.0
like when the market improves
18:22.0
again. Alright, and finally in
18:24.0
closing, your trading guidance for the coming week?
18:28.0
My trading guidance for the coming week is
18:32.0
I think we're still good so far.
18:34.0
The technicals are holding up.
18:36.0
The fundamentals are holding up.
18:38.0
This is likely just a knee-jerk
18:40.0
reaction. And again, it's quite
18:42.0
overdone in my opinion.
18:44.0
So I'm still a buy and dips kind of
18:46.0
guy and I think this is the dip
18:48.0
that we're talking about.
18:50.0
So just a bit more cautious
18:52.0
trading but still be
18:54.0
optimistic for the rest of the year.
18:56.0
Alright, on that note, Alfred
18:58.0
Garcia of EEP Securities,
19:00.0
thanks so much for joining us this afternoon.
19:02.0
Alright, thanks so much for
19:04.0
having me. Alright, we're stepping
19:06.0
aside for a short break but stick around because
19:08.0
when we return, we talk about modernizing
19:10.0
small business operations in the Philippines
19:12.0
with Peddler. Stay with us.
19:32.0
We'll be right back.
20:02.0
We'll be right back.
20:34.0
Another arrest warrant
20:36.0
issued against fugitive televangelist
20:40.0
The Pasig Regional Trial Court ordered
20:42.0
Quiboloy's arrest for qualified
20:44.0
human trafficking which is a
20:46.0
non-bailable case.
20:48.0
The court also denied the motion of
20:50.0
Quiboloy's camp to defer the proceedings.
20:52.0
The Kingdom of Jesus Christ leader
20:54.0
has been in hiding since a
20:56.0
Davao court issued a warrant for
20:58.0
his arrest over charges
21:00.0
of sexual abuse of minors.
21:02.0
Quiboloy's lawyer now moving to get
21:04.0
rid of that warrant against him.
21:32.0
He's still under question.
21:36.0
The Philippines' trade
21:38.0
deficit narrows in February
21:40.0
as exports pick up pace.
21:42.0
Our numbers that matter this Thursday
21:44.0
3.65 billion dollars.
21:46.0
This was the country's
21:48.0
trade shortfall down by 6%
21:52.0
The figure follows an improvement
21:54.0
in total external trade in goods
22:00.0
Exports amounted to 6 billion dollars
22:02.0
for electronic products accounting
22:04.0
for most of the outbound shipments.
22:06.0
The US was the largest export market
22:08.0
of the Philippines followed by
22:10.0
Japan and Hong Kong.
22:12.0
Imports were also higher
22:14.0
at 9.55 billion dollars.
22:16.0
China was the biggest source of inbound
22:18.0
shipments followed by Japan
22:24.0
The Philippine Tax Bureau's collection
22:26.0
grew by more than 24% in the first
22:28.0
two months of the year.
22:30.0
The Bureau says it was able to collect
22:32.0
over 446 billion pesos in taxes
22:34.0
in the January to February period
22:36.0
higher than last year's
22:38.0
445 billion pesos.
22:42.0
with the intensification of the
22:44.0
Bureau's tax enforcement activities
22:46.0
and its concerted efforts to deliver
22:48.0
excellent service to taxpayers,
22:50.0
collections will grow further.
22:56.0
Another tool is available to help
22:58.0
business management easier.
23:00.0
For small entrepreneurs
23:02.0
in the Philippines,
23:04.0
Peddler offers free tools including
23:06.0
a mobile point of sale system,
23:08.0
inventory management to modernize
23:10.0
and digitalize small business operations.
23:12.0
To tell us more about this,
23:14.0
we are joined by Peddler Philippines'
23:16.0
Head of Product Ken Chan
23:18.0
and its Finance Director Mark Anthony Santos.
23:20.0
Ken, Mark, good to have you on the show.
23:22.0
Hi, good afternoon.
23:24.0
Thank you for having us here.
23:26.0
Thank you for having us.
23:28.0
Now, Ken, tell us what was the inspiration
23:30.0
for Peddler Philippines?
23:32.0
I mean, what specific problems
23:34.0
were there in the Philippine market
23:36.0
that Peddler aims to solve?
23:38.0
Okay, so it's quite an interesting story.
23:40.0
So our founder and CEO, Nalega,
23:42.0
has been working in multinational FMCG
23:44.0
company for quite some time
23:46.0
and living abroad.
23:48.0
And in 2021, he went back to the
23:50.0
Philippines and went to his province
23:52.0
at Balog and Salmar.
23:54.0
And then he realized and noticed
23:56.0
that, you know, the way our micro
23:58.0
and small businesses are doing their operations,
24:00.0
they're still manual,
24:02.0
very, you know, inefficient.
24:04.0
And so he talked to the
24:06.0
merchants, he worked with the community,
24:08.0
and came up with the three main points,
24:10.0
pain points of the
24:12.0
small and micro merchants.
24:14.0
So first is basically inventory management.
24:16.0
So it just makes sense, you know,
24:18.0
there is no alternative in the market
24:20.0
and even pen and paper cannot solve it.
24:22.0
Second is there is no affordable tool
24:24.0
in the market that automates
24:26.0
financial transactions that gives
24:28.0
our business owners
24:30.0
the ability of, you know, their profit,
24:32.0
their credits, and of course,
24:34.0
cash flow, which is very essential
24:36.0
in running a business. And the last one is,
24:38.0
you know, this merchant
24:42.0
to capital in financing because
24:44.0
they don't have financial records.
24:46.0
So these are the pain points that
24:48.0
Peddler are solving and, you know,
24:50.0
our strategy is simple.
24:52.0
We make the app very simple so that
24:54.0
everybody can use it. And also
24:56.0
we make it, we offer it to our merchants
24:58.0
with no cost. It's for free so that we can, you know,
25:00.0
accelerate the adoption
25:02.0
of digitalization among our micro and small
25:04.0
merchants in the Philippines.
25:06.0
Thanks for that, Mark. Now how do you,
25:08.0
how do you guys define
25:10.0
Peddler's ideal user?
25:12.0
How do they look like?
25:14.0
Actually, what's good with Peddler is that
25:16.0
every type of business can use Peddler.
25:18.0
So right now we have
25:20.0
around 200,000 online active
25:22.0
users. They're sitting in
25:24.0
1,400 cities and municipalities in the
25:26.0
Philippines, across the Philippines.
25:28.0
And when you look at the demographics of
25:30.0
our active merchants,
25:32.0
every type of merchants, name it, we have it.
25:36.0
sari-sari stores, we have mom and pop
25:38.0
shop stores, we have
25:40.0
food and beverages, basically everything.
25:42.0
And what strategies
25:44.0
are in place to reach
25:46.0
and acquire new users for
25:48.0
Peddler? We all know all of these apps
25:50.0
are up and coming, but what sets
25:52.0
Peddler apart? How are you marketing
25:54.0
this to attract more sari-sari store
25:56.0
owners, which I think as we read
25:58.0
in the report, they're really your main
26:02.0
Yeah, that's right. So basically,
26:04.0
we're trying to solve their pain points. Like from
26:06.0
a complexity standpoint, we're making it very
26:08.0
simple. From a cost standpoint,
26:10.0
it's free. And what's good with
26:12.0
Peddler is that we're providing a good customer
26:14.0
experience to our users. Right now, we
26:16.0
actually have around 200,000
26:18.0
active community members
26:20.0
in our Facebook community.
26:24.0
one of the users are basically helping one another.
26:28.0
I mean, what is Peddler's
26:30.0
current monetization strategy?
26:32.0
What are the plans also for
26:34.0
future revenue generation
26:36.0
with your product?
26:38.0
So yeah, as Mark mentioned,
26:40.0
the app itself is free.
26:42.0
This is really in line with our goals to help
26:44.0
micro and small businesses and to really get
26:46.0
them to take the first step towards digitizing
26:48.0
their business and their operations.
26:50.0
But instead, we're focusing more
26:52.0
in terms of monetization on offering
26:54.0
value-added services that
26:56.0
they can opt in to avail from us.
26:58.0
So this includes the e-node
27:02.0
these different types of services that's really there
27:04.0
to help them augment their income.
27:06.0
Later on, we're looking at more services
27:08.0
that we can actually offer to them.
27:10.0
This includes what Mark
27:12.0
mentioned earlier, which is helping
27:14.0
bridge this small
27:16.0
business for creditors
27:18.0
and credit providers to help build their growth.
27:20.0
Really, the thinking is more
27:22.0
about what are the other products
27:24.0
that we can actually
27:26.0
offer to them to help them do their business,
27:28.0
whether it's to address their operational needs
27:30.0
or to help them earn more.
27:32.0
And it's always, always
27:34.0
an open conversation with our
27:36.0
user base. We're proud to have a very strong
27:40.0
200,000 strong community.
27:42.0
And basically, it's
27:44.0
really to understand their needs
27:46.0
and create a solution for it.
27:48.0
When did you launch this app, Ken?
27:54.0
And yeah, we've been
27:58.0
going three years already. And right now,
28:00.0
how many users does Peddler
28:04.0
Currently, we have
28:06.0
active users of 200,000
28:08.0
across the Philippines.
28:10.0
And like what you guys mentioned, it's currently
28:12.0
free to use. Are there any plans
28:14.0
to introduce premium features
28:16.0
or tiered subscription plans
28:18.0
this year or early next
28:22.0
Yeah. So there are plans.
28:24.0
So currently, it's still in the pipeline.
28:26.0
One of the key things that's important for us
28:28.0
is really to understand what's the immediate
28:30.0
mood of the business right now.
28:32.0
And it's really a continuous feedback loop
28:34.0
between us and our community base.
28:36.0
And basically, from there, we prioritize
28:38.0
which product we should release first.
28:40.0
But for sure, that is one of the things that we are in.
28:44.0
And can you elaborate on
28:46.0
the user research
28:48.0
that led to including
28:50.0
all of these features and how it
28:52.0
really specifically benefits
28:54.0
and targets Sari Sari
28:56.0
store owners? And how
28:58.0
are you able to get Sari Sari
29:00.0
store owners, not just in Metro Manila,
29:02.0
because we all know they are
29:04.0
everywhere, all neighborhoods, barangays.
29:06.0
How are you making
29:08.0
sure that you're able to tap
29:10.0
to this really huge market?
29:14.0
So I think first and foremost,
29:16.0
it's about how do we distribute this product.
29:18.0
So everything's done online.
29:20.0
We have prior research
29:22.0
through online needs, as
29:24.0
Mark mentioned. So really, there's no
29:26.0
boundaries in terms of the physical distance.
29:28.0
Secondly, we have a really
29:30.0
strong community base.
29:32.0
Word of mouth has been a really big help
29:34.0
to us to spread our app further
29:36.0
and really grow us in the past
29:38.0
three years to reach
29:40.0
where we are at the moment.
29:44.0
distribute it, we get it out
29:48.0
very efficiently.
29:52.0
And tell us more about, of course,
29:54.0
user privacy data.
29:56.0
How does Peddler deal with sensitive
29:58.0
business data? I mean, what are some
30:00.0
of the specific security measures
30:02.0
that you have put in place in the app
30:04.0
to protect user information,
30:06.0
especially considering the potential
30:08.0
lack of robust cyber
30:10.0
security practices
30:12.0
here in the country?
30:14.0
Actually, in Peddler, we value the trust
30:16.0
of our users. And
30:18.0
it's very critical to secure their data.
30:20.0
So in Peddler, we deploy
30:24.0
strategies and controls in terms of data
30:26.0
collection, data processing,
30:28.0
specifically data storage, and also
30:30.0
we have specific team members dedicated
30:34.0
doing monitoring of the transactions
30:36.0
to ensure compliance with different governmental
30:38.0
institutions like Data Privacy Commission,
30:42.0
and other agencies.
30:44.0
And the Philippines,
30:46.0
we all know, we are experiencing
30:48.0
one right now is prone to natural disasters,
30:50.0
these climate change
30:52.0
phenomenons. Does Peddler have
30:54.0
offline functionality features
30:56.0
that allow businesses
30:58.0
to continue their basic operations
31:02.0
internet outages or lack of
31:04.0
internet infrastructure?
31:06.0
Yep, definitely. So actually
31:08.0
one of the things that we ensure
31:10.0
that Peddler is built towards
31:14.0
addressing the needs here in the Philippine market.
31:18.0
even on top of these natural
31:20.0
occurrences, we know that there are also certain
31:22.0
locations where internet connectivity is a
31:24.0
challenge. So Peddler
31:26.0
was built to really
31:28.0
address that. It's built with both
31:30.0
online and offline functionality.
31:32.0
So it would work well in both.
31:34.0
We have the base POS app
31:36.0
that they can continuously
31:38.0
use offline, then just sync when
31:40.0
they get a chance to connect to the internet.
31:42.0
The same goes with their
31:44.0
e-load game pins, etc.
31:46.0
Which they can actually still transact
31:48.0
even when they don't have an internet
31:52.0
And after three years in the market
31:54.0
with 200,000 users,
31:58.0
metrics for success? Any feedback?
32:00.0
Any feedback that you've gotten from your users
32:02.0
to really show the
32:06.0
on MSMEs, especially in Sari Sari
32:12.0
of it is more about looking
32:14.0
at the number of users that are using it
32:16.0
and seeing if they continue to use it.
32:20.0
top of that is understanding, are their
32:22.0
businesses growing? So we've actually done a
32:24.0
short study a couple
32:26.0
of months back and we were able to see
32:28.0
actually businesses that
32:30.0
continuously use Peddler do actually
32:32.0
do grow. Probably the number
32:34.0
I'll need to check that and get
32:36.0
back, but there was a significant growth
32:38.0
for these businesses who continue to use it.
32:40.0
So it's definitely
32:42.0
something that definitely
32:44.0
helps them grow their business. And secondly,
32:46.0
I think it's more about the
32:48.0
non-qualitative means where we look at
32:50.0
the committee, we saw these people
32:52.0
posting about how happy they are
32:54.0
using our app, how these are
32:56.0
helping them address their specific
32:58.0
needs. And even to the point
33:00.0
that they're sharing their experiences
33:02.0
with other users and telling them, hey,
33:04.0
I do it this way, this is what's able
33:06.0
to help me, and perhaps you can also
33:08.0
use this. So they're basically
33:10.0
getting them happy enough that
33:12.0
they're willing to be our champions
33:14.0
to help acquire new users,
33:16.0
to help onboard new users.
33:18.0
Ken Chan, Head of
33:20.0
Product, Peddler Philippines Incorporated,
33:22.0
and Mark Anthony Santos, their Finance
33:24.0
Director. Ken and Mark, thank you so much
33:26.0
for joining us. Thank you so much.
33:28.0
Thanks for having us. Now we're going
33:30.0
on another quick break, but stay tuned
33:32.0
when we come back. Transport groups
33:34.0
set to hold another wave of
33:36.0
protest actions over the Jeepney
33:38.0
modernization program. Stay
34:00.0
We're back at the Business World Show.
34:14.0
Transport groups set to hold another
34:16.0
series of protest actions against
34:18.0
the controversial PUV modernization
34:20.0
program. Beginning Monday, the
34:22.0
protests will conclude on April 30.
34:24.0
The deadline for the mandatory
34:26.0
franchise consolidation set by
34:28.0
government, President Ferdinando
34:30.0
Marcos Jr. earlier said there will
34:32.0
be no more extension
34:34.0
to this deadline. Mani
34:36.0
Bella's Mar Valbuena now calling
34:38.0
for the President's resignation
34:40.0
for allegedly failing to
34:42.0
respond to the needs of Jeepney drivers.
34:46.0
modernization program, operators must
34:48.0
purchase new, air-conditioned
34:50.0
modern Jeepneys as part of government's
34:52.0
efforts to improve
34:54.0
public transport.
34:58.0
Today we're joined by logistics company
35:00.0
Ninja Van, which is set to launch new
35:02.0
business-to-business solutions today,
35:04.0
April 11, to boost that industry.
35:06.0
Here to talk to us about that,
35:08.0
we have Vin Perez. He's the country
35:10.0
head of Ninja Van Philippines.
35:12.0
Vin, welcome to the Business World Show
35:14.0
again. Thank you for having me.
35:16.0
Second time on the show. The last
35:18.0
time we spoke, this was
35:20.0
I think last year.
35:22.0
This was pandemic recovery,
35:24.0
so we were talking about how
35:26.0
robust the business has been
35:30.0
even the past year because of
35:32.0
well, online deliveries,
35:36.0
and trade commerce. This time
35:38.0
though, people are back to
35:40.0
doing things the physical
35:42.0
way, I mean going to stores.
35:44.0
So, did that change business for you?
35:46.0
What insights probably can you
35:48.0
give us about how
35:50.0
the delivery business has become
35:54.0
e-commerce and the delivery
35:56.0
scene for e-commerce, it's still a very
35:58.0
exciting space and
36:00.0
the massive growth in e-commerce
36:02.0
over the past several years has allowed us
36:04.0
to build a very big
36:06.0
significant network that spans
36:08.0
nationwide, really. So, we're able
36:10.0
to deliver e-commerce parcels
36:12.0
from Batanes all the way to
36:14.0
islands like Bungao. Because
36:16.0
of that demand, we've been able to establish such
36:18.0
a strong and efficient network.
36:24.0
other types of consumers beyond
36:26.0
e-commerce, your small and medium
36:28.0
sized businesses, the more we realize
36:30.0
that this same network
36:32.0
we can also offer to such businesses.
36:34.0
And that's what we're
36:36.0
opening up. This has not been the market
36:38.0
of NinjaFan? No. So, we have been focused
36:40.0
on doorstep deliveries and now we're
36:42.0
working with many different types of
36:44.0
businesses to enable them to
36:46.0
deliver all across the nation. Okay, I'm sure
36:48.0
you saw some pain points there. Why
36:50.0
are you now catering to small and medium
36:52.0
businesses? So, we understand
36:56.0
has really become a very underserved market.
37:02.0
businesses really and the behavior
37:04.0
we discover for such businesses
37:06.0
is usually logistical needs.
37:08.0
They figure it out themselves. You have a small
37:12.0
The first thinking is
37:14.0
whenever they need to resupply
37:16.0
or do logistics within their
37:18.0
business, they get their own trucks.
37:20.0
They get their own resources.
37:22.0
And now what we're telling them is actually we have
37:24.0
this massive network, this hyper-efficient
37:26.0
network, this fast network that you can
37:28.0
latch onto. And that makes your business
37:30.0
a lot more cost efficient. And is that
37:32.0
market now opening up to
37:34.0
an option like NinjaVan to do
37:36.0
the restocking of inventory for them?
37:38.0
Because, you know, when you talk about mom and
37:40.0
pop businesses, sometimes they're set in their ways.
37:42.0
A lot of them may have
37:44.0
the misconception that it is costlier
37:48.0
delivery and restocking
37:50.0
service as opposed to doing that
37:52.0
on their own. Yes, so
37:54.0
we've found traction
37:56.0
definitely. We're talking to, first of all,
37:58.0
many different sizes of business from
38:00.0
big ones that really want to
38:02.0
have established such a strong
38:04.0
foothold in the metro and, for example, want to
38:06.0
expand outside, to smaller
38:08.0
ones that really want to set up
38:10.0
a new shop in another city,
38:12.0
for example. We are seeing a lot of
38:14.0
traction. We are seeing that
38:16.0
this is really a pain point that they want
38:20.0
Okay, one of the challenges I can imagine is
38:22.0
us being an archipelago.
38:24.0
This can work easily
38:26.0
for an area like Metro Manila, but what about
38:28.0
the provinces? What kind of expansion
38:30.0
are you seeing in terms of
38:32.0
how you want to provide that service
38:34.0
to mom and pop, small and medium
38:36.0
businesses also outside
38:38.0
the NCR? So, that's the
38:40.0
interesting thing about this is because
38:42.0
of e-commerce, we have already
38:44.0
established our footprints in
38:46.0
a lot of these islands. So we already
38:48.0
deliver to these islands every day,
38:50.0
day in, day out. So it's just a matter of
38:52.0
not only talking to our
38:54.0
e-commerce clients, but then talking to the
38:56.0
SMEs and telling them, actually, you know,
39:00.0
restock of this size, for example.
39:02.0
Imagine your e-commerce deliveries.
39:04.0
Have this size delivered to this island
39:08.0
Okay, how much, how big an
39:10.0
ecosystem are you seeing with this
39:12.0
kind of service? You know, you're going B2B,
39:14.0
you're going restocking
39:16.0
services, inventory
39:18.0
services. How big a market
39:20.0
lying out there in the Philippines
39:22.0
that may avail of this type of service?
39:30.0
significant size that we're seeing here.
39:32.0
So when you talk about
39:34.0
e-commerce, you talk about hundreds of thousands of
39:38.0
daily. But then once you talk about
39:40.0
all the movements, you know, imagine
39:42.0
all the movements from, you know, going to the
39:44.0
malls, going to the outside
39:46.0
regions, you talk to, let's say,
39:48.0
government entities and all the movements that
39:50.0
have to happen across different LGUs,
39:56.0
much larger. And that's
39:58.0
what interests us, is how we can help at a
40:00.0
much larger scale.
40:02.0
All right. Another question would be, is this a
40:04.0
crowded space? When you look at
40:06.0
competition, is this a big
40:08.0
market? And are there a lot of
40:10.0
other providers that you're competing with?
40:12.0
Perhaps related to that,
40:14.0
what value added can one
40:16.0
get from your service? So what's
40:18.0
interesting is the type of
40:20.0
logistics that we have provided with
40:26.0
and really reaches all
40:28.0
sorts of destinations,
40:30.0
worldwide. And really, very few
40:32.0
have been able to establish such
40:36.0
buoyed by this network
40:38.0
that we have established through e-commerce, we believe
40:42.0
faster, hassle-free service to
40:44.0
our clients. All right.
40:46.0
All of that will be launched
40:48.0
in the, if I'm not mistaken,
40:50.0
Ninja Restock. Yes.
40:52.0
This is the new service that
40:54.0
you're offering. It's on launch today.
40:56.0
What can we expect from this service
40:58.0
moving forward? So,
41:00.0
what excites us more than, you know,
41:02.0
the growth of the business and the service
41:06.0
can potentially help development
41:08.0
for the country in general. So,
41:12.0
first-tier cities. The logistics
41:14.0
infrastructure, especially about B2B, is
41:16.0
largely solved already, right? But once you go out
41:18.0
second-tier, third-tier, all
41:20.0
the different islands, all
41:22.0
the challenges in delivering to these islands,
41:24.0
and the massive capital infrastructure
41:26.0
that business needs to be able to set up
41:28.0
in a different island,
41:34.0
a much more significant value that
41:36.0
we can provide. And so, what excites me here
41:38.0
personally is how we can also help
41:40.0
the development of such
41:44.0
I just hope that that can
41:46.0
boost the economic
41:48.0
situation of the country much more.
41:50.0
Lastly, if I'm a small business owner
41:52.0
or a mom and pop,
41:56.0
this service? So,
41:58.0
we have a hyper-efficient
42:06.0
restock needs nationwide,
42:08.0
and that will allow you to focus on what
42:10.0
matters more, which is how you grow
42:12.0
your business. Alright. Lastly,
42:14.0
tell us about the launch, what to expect
42:16.0
from NinjaVan in the next couple of months.
42:18.0
Well, we're gonna
42:20.0
go out there and share this to
42:22.0
a lot more of our partners, a lot more of our
42:24.0
clients. We will talk
42:26.0
more about how this can help. We will
42:32.0
trainings to help businesses understand the
42:34.0
value that this can provide. And
42:36.0
we're looking forward to
42:38.0
a lot more businesses availing of
42:40.0
our network and our service. And to
42:42.0
learn more about your network, your services, and
42:44.0
what you have to offer, where did they check you out?
42:46.0
So, we have presence across
42:48.0
social media. Just look up
42:50.0
NinjaVan Philippines. And
42:52.0
we have our website as well.
42:54.0
Again, just look up NinjaVan Philippines and
42:56.0
we'd be happy to share more of our services through there.
42:58.0
Alright. Mr. Vin Perez,
43:00.0
Country Manager, NinjaVan Philippines.
43:02.0
Thank you so much for joining us this afternoon.
43:04.0
Thanks as well. Good luck with the business.
43:06.0
Thank you so much. Alright.
43:08.0
Moving on. Traffic authorities looking into
43:10.0
the possibility a senator was on board
43:12.0
a vehicle that sped off
43:14.0
after being caught using the ATSA
43:16.0
bus lane this morning. Job Manahan
43:22.0
that has a number 7 protocol
43:24.0
license plate eluded traffic authorities
43:26.0
on Thursday morning after
43:28.0
initially being apprehended for using the
43:30.0
ATSA bus lane along the part of EDSA
43:32.0
Mandaluyong. The Special Action
43:34.0
and Intelligence Committee for Transportation
43:36.0
or SAIC stopped the
43:38.0
black SUV that was tailing two
43:40.0
police cars that were also apprehended for
43:42.0
using the bus lane. When the driver
43:44.0
provided his driver's license to
43:46.0
SAIC operatives, however,
43:48.0
he started his engine and left the scene.
43:50.0
Based on guidelines from the
43:52.0
Department of Transportation, only
43:54.0
senators could be issued protocol
43:56.0
plates with a number 7.
43:58.0
They already gave the license
44:00.0
and asked for the
44:02.0
ORCR, but they ran away.
44:06.0
SAIC operatives were surprised.
44:08.0
I asked all of them,
44:10.0
but they could not identify
44:12.0
who was the senator.
44:14.0
As long as they said
44:16.0
yes, there was a driver,
44:18.0
the driver was a passenger.
44:20.0
Guest Mundo added
44:22.0
that what the driver did was considered
44:24.0
a disregard to traffic rules
44:26.0
and regulations. He may face
44:28.0
stiffer penalties. The DOTR
44:30.0
said it is already looking into the matter
44:32.0
and they have no news yet whether or
44:34.0
not there was really a senator on board.
44:36.0
What was clear, though, was the presence
44:38.0
of a passenger based on a
44:40.0
statement of a traffic personnel.
44:46.0
sanctions, penalties
44:52.0
bus lane, which we already know
44:54.0
who is the only one allowed there.
45:00.0
disregarding traffic rules.
45:04.0
if you drive like this,
45:12.0
within the day, the LTO will
45:14.0
issue a shock order to the driver.
45:16.0
In November 2023,
45:18.0
the MMDA limited the use of the bus
45:20.0
lane to government officials, which
45:22.0
only includes the President, Vice
45:24.0
President, Senate President,
45:26.0
House Speaker, and the Chief Justice.
45:28.0
Just recently, the convoy of
45:30.0
Narvacan Mayor Chavit Singzon was
45:32.0
caught using the EDSA bus lane.
45:34.0
Meanwhile, a couple of vehicles with
45:36.0
stickers of the Philippine National Police
45:38.0
were also apprehended for using the bus
45:40.0
way. Among them was a police
45:42.0
personnel who declined to be interviewed.
45:44.0
SAIC also stopped a van
45:46.0
with a PNP sticker. The driver
45:48.0
said they were on the way for an emergency
45:50.0
at Camp Krame. Operatives
45:52.0
however allowed one PNP vehicle
45:54.0
carrying personnel from the explosive
45:56.0
ordnance, disposal, and canine group
45:58.0
due to an ongoing operation at
46:00.0
the QCPD Station 2.
46:06.0
The violations committed by government
46:08.0
officials and police personnel
46:10.0
come as President Marcos called
46:12.0
on them to set an example by
46:14.0
following road rules. The Transportation
46:16.0
Department again reminds
46:18.0
all motorists not to use the
46:20.0
exclusive bus way unless they fall
46:22.0
under its guidelines. It said
46:24.0
only ambulances with patients,
46:26.0
police with ongoing operations,
46:28.0
fire trucks responding to fire incidents,
46:30.0
and select Philippine officials
46:32.0
could use the EDSA bus way.
46:34.0
Job Manahan, ABS-CBN News.
46:56.0
The ability of people to move
46:58.0
around will likely contribute
47:00.0
better to growth.
