5/2021
STRONG AND DIVERSIFIED IN FAST-GROWING ASIA
www.firstpacific.com
2 First Pacific’s 40th anniversary message | 7 PayMaya powers e-Commerce 9 Healthier delicious noodle | 10 CCLEX blesssed and illuminated
THE VIEW – MAY 2021
V IS IT THE V IEW ON L IN E
In this issue, we reflect on First Pacific’s 40th anniversary and the journey of our evolution. Navigating through changing conditions, we have been learning, growing and evolving. Our experience leaves us better prepared for a secure future, providing Total Food Solutions, integrated telecommunications and infrastructure in Southeast Asia.
First Pacific Company Limited 24/F, Two Exchange Square 8 Connaught Place Central, Hong Kong SAR Telephone: +852 2842 4388 www.firstpacific.com
PUBLISHER Manuel V Pangilinan EDITOR-IN-CHIEF John Ryan EXECUTIVE EDITORIAL ADVISOR Sara Cheung ORIJEN TEAM Editor Julia Brown Production Director Katy Li Creative Director Jan Adams Designer Alina Rai Photo coordinator Ada Leung
Welcome to the May edition of The View and visit our online version at www.firstpacific.com/press/ theview. It highlights stories from around the group with videos to bring our news, innovations and events to life. The digital version can be enjoyed at your desk or on your mobile phones wherever you are. Please click in and let us know your feedback. CONTENTS 1 A word from the Chief 2 First Pacific’s 40th anniversary message 3 Key corporate events 4 First Pacific 2020 annual results financial highlights 5 Transforming businesses with innovation 6 PLDT Enterprise and Smart in 5G evolution PLDT Enterprise boosts partnership with Figaro Group 7 PayMaya powers Philippine businesses online First fintech in the Philippines to enable merchants with QR Ph 8 Uplifting women, uplifting society PLDT rolls out eHealth 9 Healthier deliciousness 10 Bridge of hope and progress 12 A bright future in infrastructure 13 Meralco’s first renewable power plant in commercial operation 14 Metro Pacific Hospitals vaccinate frontliners PLDT, Smart ramp up services as lockdowns ease 15 PayMaya wins Asean Business Award PLDT Global Enterprise awarded by Alibaba Cloud People of the Year 2021 Awardee Maynilad cited as “Utility of the Future” 16 MetroPac Movers takes the lead with COVID-19 vaccine handling An extraordinary year 17 First Pacific Group opens emergency quarantine facility for employees 18 Education strategies in pandemic times 19 PLDT, PSF and Tulong Kapatid continue supports to frontliners 20 Indofood: Developing next-generation talents 21 MPIC, CCLEC champion the mangrove ecosystem 22 PLDT Group’s energy efficiency drive 23 IdeaSpace ingenuity for healthcare professionals 24 6th First Pacific Group Photo Competition First Pacific is a Hong Kong-based investment management and holding company with operations located in Asia-Pacific. Our principal businesses relate to consumer food products, telecommunications, infrastructure and natural resources. Within these sectors, our mission is to unlock value in our operatiing companies by: Delivering dividend/distribution returns to shareholders; Delivering share price/value appreciation of First Pacific and its operating companies; and Making further investment in value-enhancing businesses, taking into consideration all relevant criteria, including Environmental, Social and Governance (“ESG”) factors to better manage risk and generate sustainable long-term returns.
A WORD FROM THE CHIEF
A word from the Chief To my colleagues with the First Pacific Group
T
his issue of The View comes as First Pacific marks its 40th anniversary in a way we hadn’t ever expected. Please read the joint message from your Chairman and Chief Executive to
learn our thoughts on this remarkable anniversary.
easing congestion elsewhere and boosting the local economy.
Elsewhere in this issue, you will find reporting on the Company’s full-year 2020 results. Notwithstanding the calamity of COVID-19, we managed to deliver overall excellent results, thanks to the talent and effort of our teams in Hong Kong, Indonesia and the Philippines.
Over in Indonesia, we have a report on new product innovations in Indofood’s industry-leading noodles business and its valuable work in developing new talent to carry it onward to greater achievements in the future.
The numbers we delivered deserve a closer look. Indofood and PLDT produced their highest-ever revenues and while MPIC was set back by community quarantines imposed to fight the pandemic, it nevertheless managed to provide shareholders with an unchanged dividend. First Pacific reported its highest recurring profit since 2014 and the excellent balance sheet management of our Treasury team in Hong Kong enabled our Board to increase the full-year distribution to shareholders and – important for creating long-term value – announce a three-year share repurchase program with a budget of US$100 million. One of MPIC’s new projects is one dear to my heart, the Cebu-Cordova Link Expressway, which recently held an inaugural lighting of its eight 40-meter crosses to celebrate the 500th anniversary of the introduction of Christianity to the Philippines. This highly complex bridge and road project is nearly three-quarters completed and should be substantially finished by the end of this year, carrying up to 50,000 vehicles a day,
I recently attended the opening ceremony for the Bulacan solar power plant which is now delivering 50 MW of electricity to the Meralco grid. This is merely the first of many investments in renewable energy planned for the years ahead. In fact, MGen aims to build as much as 1,500 MW of renewable electricity before this decade is out, leading the way in providing clean and cheap power while pushing back against the deleterious effects of climate change on our fair but vulnerable Philippines. Don’t forget to read about Person of the Year awardee Chaye A Cabal-Revilla, the new Chief Financial Officer and Chief Sustainability Director at MPIC, who will bring great things on the sustainability front for the Philippines’ most important infrastructure holding company. Lastly, I hope you enjoy viewing the winning snapshots from our sixth photo competition as much as I did in reviewing the submitted entries. It’s a pity we could only pick a few, and I hope we see more wonderful photographs in next competition. << MVP THE VIEW 1
FIRST PACIFIC 40TH ANNIVERSARY
First Pacific’s 40th Anniversary Message As First Pacific marks its 40th year, we would like to take a moment to look back on our journey so far, and reflect on where we are going. Our Company’s first investments marked it as a diverse holding company – one which invests in businesses and manages them – a condition First Pacific retains to this day. In our early, youthful years, our investments were broadly divided into (i) banking and finance (First Pacific Holdings) and (ii) trading and distribution (First Pacific International). This reflects the original premise of First Pacific’s character to be an intermediary of finance as well as of goods and services. In the course of 40 years, our investments have evolved away from our founding principles, driven by changing conditions. Our biggest holdings today are with (i) Indofood which had begun to implement its Total Food Solutions strategy, and is growing to become a multinational food company; (ii) PLDT which is the dominant integrated telecommunications group in the Philippines; and (iii) Metro Pacific Investments, which is one of the largest infrastructure investors in ASEAN. In the 40 years of First Pacific, we have seen good times and bad, learning and growing through the entire experience of building and evolving what many regard as one of the finest investment management and holding companies in Southeast Asia. We are proud of what we have accomplished, and we look to the future secure in the understanding that our experience – and humility taught by that experience – leave us better prepared in the many years ahead. In large measure, where First Pacific is today is owed to the men and women who were part of that journey, then and now. To all of them, we send our heartfelt and humble thanks.
2 THE VIEW
Anthoni Salim Chairman 25 May 2021
Manuel V Pangilinan Managing Director and CEO
FIRST PACIFIC 40TH ANNIVERSARY
Key corporate events 2015
2017
2016
First Pacific acquired 50% of Goodman Fielder
FP Natural Resources
(First Pacific and IndoAgri) and its Philippine affiliate increased investment in Roxas Holdings to 50.9%
2013
First Pacific sold its 75% interest in FPM Infrastructure to MPIC, lifted MPIC stake in Don Muang Tollway to 29.45%
2012
FPM Infrastructure (First Pacific and MPIC) acquired 29.45% of Don Muang Tollway FP Natural Resources (First Pacific and IndoAgri) acquired 34% of Roxas Holdings FPM Power (First Pacific and Meralco) acquired 70% of PacificLight Power
1998-2000 Acquired PLDT in the Philippines and Indofood in Indonesia. Concluded acquisition of Smart by PLDT
With the Asian crisis, First Pacific restructured and refocused in Asia with core investments in leading companies in telecoms, consumer food products and infrastructure sectors
remaining 25% interest in Beacon Electric which became a whollyowned subsidiary of MPIC
MPIC expanded its power portfolio by increasing its interest in Beacon Electric to 75% from 50% and invested in Global Business Power Corporation
2014
1998
MPIC acquired the
Metro Pacific Holdings, Inc (“MPHI”), a Philippine affiliate of First Pacific) sold 4.1% diluted interest in MPIC to GT Capital Holdings, Inc. and subscribed newly issued Class A voting preferred shares in MPIC. Post transactions, MPHI holds a voting interest in MPIC of 55% and an economic interest of 42%
2006
1996
First Pacific Finance Limited was founded as a financial services provider in Hong Kong (deposit-taking company or aka finance house). Startup capital was HK$7 million (US$0.9 million) with a total staff of six (6) in a 500 sq. ft. (50 sq. m.) office in Central, Hong Kong. Original name was Overseas Union Finance Limited
MPIC sold its 40% interest in Metro Pacific Hospital Holdings, Inc. to KKR & Co. Inc.
MPIC’s Beacon PowerGen sold its 56% interest in Global Business Power Corporation to Meralco PowerGen Corporation
2010
Increased investments in telecoms through PLDT’s acquisition of Digitel, in Meralco through Beacon Electric, in hospitals through MPIC. Listed natural resources businesses through Philex Petroleum (oil and gas exploration) and SIMP (plantations)
2008
Increased investment in PLDT. Invested in water distribution (Maynilad) and hospital (Makati Medical Center) through MPIC. Listed Indofood’s plantations businesses through IndoAgri. IndoAgri acquired Lonsum (plantations)
First Pacific made its first investments in mining (Philex), and in toll roads (MPTC) through MPIC. MPIC increased investment in Maynilad
Increased investments in Meralco through Beacon Electric (PLDT and MPIC), in hospitals through MPIC and in Philex. Listed Indofood’s consumer branded products businesses through ICBP
2009 Invested in electricity distribution (Meralco) through PLDT and MPIC. Increased investment in Philex
Indofood added dairy business through the acquisition of Indolakto
1988-96
Smart Communications launched cellular services in the Philippines. NTT of Japan invested in Smart Communications as a strategic investor. Acquired PDCP Bank and First e-Bank in the Philippines
2021
Indofood CBP acquired the entire issued share capital of Pinehill Company Limited
2011
Increased investments in Meralco through Beacon Electric (PLDT and MPIC), in Philippine Hydro (PH) Inc. through Maynilad, in CAVITEX through MPTC, in hospitals through MPIC, in consumer products through Indofood, in plantations through IndoAgri, SIMP and Lonsum
1993-96
First Pacific became a constituent of the Hang Seng Index
2020
First Pacific sold its 50% interest in Goodman Fielder to Wilmar International Limited
2007
Relisted MPIC as an infrastructure company
1981
2019
First Pacific showed significant growth in marketing and distribution, property and banking divisions; and pioneered in regional telecoms investments
1992 Acquired Far East Bank and merged it with Hong Nin Bank, renamed and listed as First Pacific Bank in Hong Kong
Invested in GSM networks in China’s Fujian Province, Shenzhen, Dongguan and Huizhou and in Taiwan’s Tuntex Telecom, rolled out GSM mobile networks in India through Escotel
1982-87 Acquired Hibernia Bank in San Francisco, a controlling interest in Hagemeyer, the Netherlands, invested in Berli Jucker in Thailand, First Pacific Davies in Hong Kong, United Savings Bank in California, Hong Nin Bank in Hong Kong and founded Metro Pacific Corporation in the Philippines
1988 First Pacific Holdings and First Pacific International merged to form the currently listed First Pacific Company (using Shanghai Land of the Kadoorie Family as the listed shell)
1989 Acquired a controlling interest in Imagineering Australia thereafter named Tech Pacific
First investment in telecoms with the purchase of a 50% interest in Pacific Link, Hong Kong. Acquired Dragon Seed Department Store in Hong Kong, set up retail operations (System One for electronic appliances and Sports Authority for sporting goods)
THE VIEW 3
FINANCIAL HIGHLIGHTS
First Pacific 2020 annual results financial highlights RECURRING PROFIT UP 11% ON INDOFOOD, PLDT, REDUCED HEAD OFFICE EXPENSES 2020 Recurring Profit (USD million) 340 320
15.6
300 290.0 280
8.0
7.0
321.2
17.1 31.0
260
2020
Philex
PLP
PLDT
Head Office
MPIC
2019
200
(5.4)
Indofood
(42.0)
220
Other
240
2020 Head Office Cash Flow (USD million) 350 325.0 300
189.9
250 200
(78.4) 111.4
(14.2)
(4.1)
Closing Cash
Corporate Overheads
Net Cash Interest Expense
Distributions Payment
Net Repayments
Dividend and Fee Income
(234.3)
50 0
(17.3)
Tax Paid & Others
(55.2)
100
Net Investments
150
Opening Cash
Indofood and PLDT delivered their highest-ever full-year revenues on lockdown-induced increases in demand [ MPIC was the sole major holding set back by the pandemic, but it maintained its dividend as cash flows recovered from lows incurred during community quarantine [ Contribution from operations rose 4% to $409.7 million vs. $395.6 million as strong performances led by Indofood, PLDT and Philex offset MPIC’s lower contribution [ Sharply lower interest expense and overheads improved Head Office costs by $17.1 million, resulting in an 11% improvement in recurring profit to $321.2 million vs. $290.0 million [ First Pacific recorded net profit of $201.6 million vs. net loss of $253.9 million on lower nonrecurring losses [ FY distribution raised to 14.5 HK cents/share for 2020 vs. 13.5 HK cents/share a year earlier [ $100 million three-year share repurchase program launched to support share price [ Operating companies forecast rise in earnings over the medium term as Southeast Asian economies return to growth [
HEAD OFFICE BALANCE SHEET AS AT END-2020 Gross debt $1.44 billion, gross debt cover 3.7x Net debt $1.33 billion, net debt cover 4.0x [ Cash balance of $111 million [ Average maturity of 3.9 years [ Blended interest cost of 3.5%
Fixed-rate borrowings amount to 74% of the total The Company’s interest coverage ratio improved to 3.1x at year-end 2020 [ No subsidiaries, affiliates or associates have any recourse to First Pacific Head Office for any of their borrowings <<
[
[
[
[
4 THE VIEW
NEWS
Transforming businesses with innovation PLDT Enterprise’s fiber-powered solutions aim to elevate the resilience of businesses
P
LDT Enterprise continues to deliver true resilience for organizations through its fiber-enabled solutions. The global health crisis has resulted to a more dynamic business landscape and accelerated the enterprise’s thrust towards digital transformation, ensuring businesses’ ability to be always on and available to serve their customer requirements at any time of day and over various customer touchpoints. Enterprise’s reliable fiber-powered solutions providing reliable connectivity underpinned by PLDT’s extensive fiber network infrastructure
and industry-leading capabilities. BEYOND FIBER delivers the winning combination of enterprise-grade internet connectivity and curated digital solutions that empower businesses of all sizes and enable the work from home requirements of various industries and sectors, allowing them to operate with minimal service degradation and disruption. PLDT Software-Defined Wide Area Networking (“SD-WAN”) provides nextgeneration networking capabilities designed to help businesses accelerate digital transformation in the cloud age, interconnecting geographically dispersed offices
and sites, multi-branch networking becomes more intelligent, easier to control and manage, and can be assured of optimal performance. PLDT Enterprise also offers Branch in a Box which empowers businesses with a straightforward “Lean IT” solution to keep IT and networking simple and quick. Its other fiberpowered solutions include iGate, PLDT’s Dedicated Internet Access solution, which provides guaranteed bandwidth, reliable and managed Internet connectivity. For high-capacity fiber networking, PLDT Enterprise continues to offer Metro Ethernet solutions both domestically and internationally, to allow businesses to establish a robust point-to-point or point to multipoint connectivity, backed by service level commitments. “We recognize the evolving needs of our customers in the changing digital landscape and how our wide array of fiber-powered solutions can assure them of uninterrupted, highly reliable and secure connectivity. We’re confident that these solutions will enable entrepreneurs and businesses to face the toughest of challenges and emerge stronger than ever before - making them truly resilient,” said ePLDT President and CEO and SVP and Head for PLDT and Smart Enterprise Business Groups, Jovy Hernandez. << THE VIEW 5
NEWS
PLDT ENTERPRISE AND SMART IN 5G EVOLUTION PLDT Enterprise and Smart unveiled Smart Bro 5G for Philippine businesses in March 2021, an evolution designed to equip enterprises with the latest in 5G technology, running on the country’s fastest mobile network.
“S
mart Bro 5G offers better internet speeds and more reliable internet connections,” said FVP and Head of PLDT Enterprise Core Business Solutions Jojo Gendrano. “This allows users to benefit from ultra-fast downloads
and application response….. We are certain that businesses will welcome this technology evolution, and we will continue to be in touch with our customers to further enrich enterprise 5G use cases.” <<
PLDT Enterprise boosts partnership with Figaro Group Technology solutions for F&B business in challenging times
I
n May 2021, PLDT Enterprise fortified its partnership with Figaro Group, a well-known coffeehouse chain in the Philippines. Figaro Coffee Systems signed up for PLDT Enterprise’s ISDN PRI Services, with a total of 60 Channels to complement their existing trunk line service, and BEYOND FIBER, a PLDT Enterprise solution that will speed up and further secure their communications and data transmission. With the 6 THE VIEW
increased demand for online food deliveries given the pandemic, Figaro can immediately attend to orders and deliveries of their customers. PLDT FVP & Enterprise Revenue Group Head Mitch Locsin said that, “the additional services that Figaro Group have availed of highlights the continuing solid partnership between PLDT Enterprise and Figaro Group, which started in 2015. We both have the shared mission to provide the best quality products and services to our customers, and this latest signing is indicative of the trust
and confidence that Figaro Group has placed with PLDT Enterprise.” COO of Figaro Group Mike Barret added, “Despite these very challenging times, the food business climate has remained very competitive, particularly for the Figaro Group, and connectivity with our end customers and B2B clients is key to staying successful. PLDT remains our preferred Telco Partner, and the technological advantage that PLDT Enterprise gives us, provides optimal support for our organization to achieve our business goals….. We look forward to an even stronger partnership with PLDT Enterprise in the future.” <<
NEWS
PayMaya powers Philippine businesses online Digital financial services provider PayMaya is leading the way as the online payment gateway of choice for businesses of all types and sizes in the Philippines. Through its easy-to-use and accessible online payment gateway solution PayMaya Checkout, it has enabled faster transition to cashless transactions for businesses going into e-Commerce.
P
ayMaya is also the largest non-bank acquirer in the Philippines, processing payments for the biggest “everyday” merchants, including e-Commerce sites, quick services restaurants, groceries, retail, gasoline and transportation, utilities, as well as small and medium size enterprises embracing online sales channels.
PayMaya President Shailesh Baidwan noted, “The exponential shift to digital has seen many consumers and businesses go online to avail of essential, dayto-day products and services. Our online payment gateway solutions are making it easier for businesses to swiftly ride this wave. Combined with our end-toend suite of payment solutions, including payment acquiring and face-to-face acceptance, we hope to continuously propel this shift and support the growth of the digital economy.” PayMaya is the only end-to-end digital payments ecosystem enabler in the Philippines with platforms and services that cut across consumers, merchants, communities, and government.
GROWING THE NEXT WAVE OF E-COMMERCE
In 2020, PayMaya registered year-on-year growth of over
500%
in transaction count and payment volume
As of end-March 2021 PayMaya Mall connects
Over
400%
in the number of businesses using its online payment gateway
200 35 million 250,000
merchant partners to over PayMaya app users interacting via over
digital touchpoints
FIRST FINTECH IN THE PHILIPPINES TO ENABLE MERCHANTS WITH QR PH In April 2021, PayMaya was the first financial technology firm in the country to adopt QR Ph for merchants, the national quick response (“QR”) code standard for consumer-tobusiness payments, launched by the Bangko Sentral ng Pilipinas (“BSP”). With PayMaya’s rollout of QR Ph to its merchant partners, businesses can easily accept cashless and contactless payments from PayMaya wallet users and from any accountholder of QR Ph participating banks and other e-wallets. PayMaya had previously become the first e-wallet to adopt the
QR Ph standard for person-to-person payments, in late 2019. “Today marks another milestone in our mission to build a Cashless Philippines as PayMaya becomes the first fintech company to support the BSP in its effort to accelerate digital payments around the country through the launch of QR Ph for merchants,” remarked Baidwan during the virtual launch event. “As we conquer the New Normal, QR Ph for retail payments will surely get more businesses - from micro and small enterprises to the largest merchants - to go digital as
Bangko Sentral ng Pilipinas Governor Benjamin Diokno (right) and Deputy Governor Mamerto Tangonan (left) successfully complete their contactless transaction by scanning the PayMayaenabled QR Ph code for merchants.
more Filipinos can now easily and safely do interoperable digital payments using their mobile phones.” << THE VIEW 7
NEWS
UPLIFTING WOMEN, UPLIFTING SOCIETY Digital inclusion mission for International Women’s Day
T
o highlight the role of women as Champions of Change in the digital economy, PLDT and Smart partnered with social impact organization Connected Women at a forum in March, to conclude the month-long celebration of International Women’s Day 2021.
AI CAREER OPPORTUNITIES The integrated telecommunications company’s partnership with Connected Women is for the Elevate AIDA (Artificial Intelligence Data Annotation) program, which offers online skills development and remote work opportunities in the artificial intelligence industry, particularly for stay-at-home women. Upskilling projects include data labeling, remote work, professional communication, and computer skills, which are all scalable in the digital remote workspace.
The Digital Economy is NOW virtual assembly featured insights into digital inclusion from female leaders and the importance of upskilling women for the future of work. Among the 700 participants from the private sector, startups, government, (Clockwise from top left): Connected Women Co-Founder Ruth Yu-Owen, PLDT and Smart’s students, the academic Smart FVP for Enterprise Risk Management Debbie N Tan, Sanofi Philippines Country Lead and General Manager Amal Makhloufi, Connected Women and media was Smart and Isabela, Basilan Mayor Sitti Djalia Hataman at “The Digital Economy beneficiaries receive FVP for Enterprise Risk is NOW” virtual assembly. career coaching, Management Debbie developing critical thinking and problem-solving Tan, who emphasized that “when we uplift women, skills, and mentoring. Other initiatives in the we uplift all of society as well.” pipeline include the provision of digital tools and possible livelihood “PLDT and Smart’s initiatives with Connected Women underscore our commitment to empower opportunities in PLDT and Smart’s load Filipinos through technology that can unlock and retailer business. << share their infinite potential,” she said.
PLDT rolls out PLDT has developed digital solutions for a unified healthcare system encompassing medical practitioners and their patients.
T
his eHealth suite of solutions aims to provide a safer environment for practitioners and patients, to expand the reach of customers, and to unify systems for more efficient operations. With the goal of elevating accessibility of healthcare services through improved online systems, PLDT strives to make quality healthcare services easily available to every Filipino wherever they may be, through the media of their choice. The pandemic has heightened risk of potential
8 THE VIEW
exposure and infection through physical consultations, and PLDT’s eHealth solutions offer secure and efficient contactless operations. The eHealth Solution is powered by SeeYouDoc enabling doctors and medical practitioners to address the pain points of their patients through distant and online consultations. SeeYouDoc streamlines e-prescriptions, patient data, online payments and medical notes, among others, for the efficient handling of materials. <<
NEWS
HEALTHIER DELICIOUSNESS Indofood introduces noodle product innovations
T
he green noodle is made of broccoli with the goodness of savory mushroom stocks, corn and carrot toppings, with no MSG, artificial flavor or preservatives. Supermi Nutrimi has been categorized as ‘Healthier Choice’ by Badan Pengawas Obat-obatan dan Makanan (National Agency of Drug and Food Control). Indofood’s Noodles Division General Manager Marketing Julia Atman said, “We’ve noticed that health awareness among people is increasing. We can see increasing numbers of people who are living healthy lifestyles, including the choice of what they’re eating. It raises expectations among instant noodle consumers to have a tasty instant noodle that is also healthier yet affordable. Based on those consumer insights, we proudly present Supermi Nutrimi Chicken Steak flavor as a ‘Healthier Choice’.” Presented in stores across Indonesia and online for health-conscious consumers, Supermi Nutrimi is available at an affordable Rp3,500 (US$0.24) per pack.
TASTE OF ITALY AT HOME – WITH A SPICY TWIST Indofood has launched its latest 2021 Indomie noodle innovation in response to the pandemic: a dish that meets Indonesians’ longing for a meal they would normally enjoy in a restaurant or café. Indomie HypeAbis Mieghetti Bolognese offers a taste of West and East, and the name Mieghetti is derived from the exclusive combination of Indomie and spaghetti. The Mieghetti noodle texture is the key element that brings delight in every bite, through a chewier and straighter noodle, with its savory and authentic bolognese taste and meaty topping. Like other HypeAbis flavors in that product series, the Mieghetti Bolognese comes with additional chili powder that can be added according to one’s preference – perfect for Indonesian taste buds. <<
THE VIEW 9
NEWS
Bridge of hope and progress CCLEX’s iconic bridge blessed and lit to celebrate 500 years of Christianity
T
he Cebu-Cordova Link Expressway (“CCLEX”) was blessed and illuminated on 15 April 2021. CCLEX is a 30 billion, 8.5-kilometer toll bridge that will link Cebu City to the Municipality of Cordova in Mactan Island. Eight graceful crosses top the CCLEX’s main bridge pylons and are inspired by the cross planted by Portuguese explorer Ferdinand Magellan 500 years ago in Cebu, known as a cradle of Christianity in the region. Metro Pacific Tollways Corporation (“MPTC”) Chairman Manuel V
Pangilinan was in virtual attendance and said, “We add a deeper and loftier meaning to CCLEX by adding eight 40-meter crosses that celebrate the coming of Christ 500 years ago. These crosses will illuminate the skyline of Metro Cebu - beacons of hope and progress, symbols of achievement, and everything Cebuanos are proud of.” He thanked MPTC’s partners - the local government units of Cebu City and Cordova, contractors, sub-contractors and workers - for progress on the CCLEX project, which he described as a modern engineering marvel.
“In many ways, we at Metro Pacific Tollways are the Magellan’s of today - building ways for people to make discoveries, to travel, and to bring gifts of life and faith, anywhere in this country and even beyond our shores,” he said. CCLEX will not only reduce traffic and make travel greatly more convenient, it will also facilitate trade and accelerate economic opportunities for Cebu and the Visayas region. A DREAM OF THE COMMUNITY Cebu Archbishop Jose Palma led the blessing of the CCLEX crosses on board a yacht in the middle of the Mactan Channel. He said that the bridge linking Cebu City to the Municipality of Cordova is a dream of the community that is now becoming a reality. “The bridge is not just a bridge. The bridge connects and makes people closer together. A beautiful expression of what life should be,” Palma said.
The Cebu Cordova Link Expressway Corporation (“CCLEC”) will maintain and operate the facility under a joint venture agreement with the local government units of Cebu City and Cordova. CCLEC is a subsidiary company of MPTC, the toll road arm of Metro Pacific Investments Corporation.
10 THE VIEW
NEWS
View the ceremony video here:
Cebu City Mayor Edgardo Labella added, “With each passing day, we see this landmark project slowly taking shape. I look forward to the day when people from Cebu City and the south can easily go to Mactan Island through CCLEX.” The blessing and the lighting of the crosses signal the start of the completion of the CCLEX, targeted to be substantially completed by the end of the year. As of March 2021, the overall engineering, procurement and construction contract of CCLEX is at 72.73% while construction progress is at 66.89%. <<
Watch at www.firstpacific.com/press/theview.php
Set to be a new landmark in the Philippines, CCLEX will have two lanes in each direction that will provide a safe, quick and scenic passage to an estimated 50,000 vehicles daily. CCLEX has a design speed of 80 kilometers per hour and a navigational clearance or height of 51 meters, to allow large vessels to pass underneath the bridge.
THE VIEW 11
NEWS
A BRIGHT FUTURE IN INFRASTRUCTURE Metro Pacific Tollways (“MPTC”) is at the forefront of transportation infrastructure as a key engine of economic growth.
M
PTC’s 155 billion Urban Ring Road, is projected to be a highspeed, high-standard network for the Metro Manila area. The ring road will link MPTC’s C-5 Expressway, C-5 South Link, and the NLEX – CAVITEX Port Link Expressway, providing seamless travel and connecting Metro Manila cities. It will enable 24/7 transportation of goods and people at the fast, unimpeded pace that a modern, expanding economy demands. MPTC President and CEO Rodrigo E Franco told The Manila Bulletin that the rapid growth of urbanization needed to be matched by good traffic management. “The economic losses of city traffic are enormous. We’d like to help manage it, and the MPTC Urban Ring Road is our contribution,” Franco noted. “I’d like to say it is a powerful idea whose time has come in the Philippines.” <<
12 THE VIEW
These vital arteries in Central and Northern Luzon will improve connectivity for hundreds of thousands of motorists and greatly boost trade and commerce.
NEWS
Meralco’s first renewable power plant in commercial operation Milestone in aggressive pursuit of sustainable investments
M
eralco marked a significant milestone in its long-term sustainable energy journey on 12 May 2021. The company’s first solar power plant began commercial operations in San Miguel, Bulacan, a province north of Manila.
BulacanSol is a 50-megawatt (“MW”) power plant providing clean and renewable power to the Luzon grid. The 4.25-billion project is a joint undertaking of MGen Renewable Energy, Inc. (“MGreen”), which owns 60% of the project; and PowerSource Energy Holdings Corporation, with 40%. MGreen is the renewable energy unit of Meralco PowerGen Corporation (“MGen”), which in turn is the power generation arm of Meralco. A SUSTAINABLE ENERGY TRANSITION Meralco Chairman Manuel V Pangilinan commented, “This is a
modest step into renewables but a significant one for Meralco. We look forward to many more investments in renewables, particularly solar, as we attempt to achieve that balance in fuel sourcing, which will ultimately be biased towards renewables.” “In June 2019, Meralco made the first announcement that it would join the shift to renewable energy and it will adopt sustainable practices for the One Meralco Group. And today, we realize the very first renewable power plant – the first of several that One Meralco has lined up for investment and sourcing,” added Meralco President and CEO Atty. Ray C Espinosa.
energy security through clean, costcompetitive, and sustainable power, PowerSource First Bulacan Solar, Inc. (“PFBSI”) Chairman, and President and CEO of MGen Rogelio L Singson said. “We pledge to continue building more environmentally conscious projects as part of our commitment to a sustainable energy transition for the future generations. As the first operational project of MGreen, BulacanSol is a very important milestone that drives us to aggressively pursue more projects that will help us achieve our target of building a renewable energy portfolio with a capacity of up to 1,500 MW in the next five to seven years.” Mr. Singson also acknowledged the very strong support BulacanSol received from national government agencies including the Department of Energy, Energy Regulatory Commission, and Department of Public Works and Highways; as well as from the local government unit of San Miguel led by Mayor Roderick Tiongson.
TARGETING A 1,500 MW PORTFOLIO CAPACITY BulacanSol signifies the commitment of One Meralco and PowerSource Group to help ensure THE VIEW 13
NEWS
Metro Pacific Hospitals vaccinate frontliners The 18 hospitals of Metro Pacific Hospital Holdings Inc. (“MPHHI”) prioritized the welfare of its healthcare workers and mobilized to vaccinate its frontliners in the shortest possible time.
A
s of May 2021, MPHHI hospitals had vaccinated 87% of its workers, equivalent to 22,804 out of its 26,168 healthcare frontliners. President and CEO of MPHHI Augusto Palisoc Jr. underscores
the protection and relief this has provided to healthcare workers. “Our hospital workers have been bravely caring for our patients for an entire year, amidst the global pandemic. We really wanted to make these vaccines available to them as soon as possible, especially now that we are experiencing a much bigger surge in cases.” Palisoc said in March 2021. PERFECTING THE PROCESS “The rollout of safe and efficient vaccines is critical to the welfare of our people, as well as to the revival of our economy,” said MPHHI Chairman Manuel V Pangilinan. “As more vaccines
come in over the next few months, the challenge will shift to getting them injected in as many arms as possible,” he added. “Our hospitals are perfecting this process as we speak, and I think we’ll be in a position to offer even greater help to the government and to the wider community very soon.” Pangilinan is supporting the national government by providing an additional two million doses of AstraZeneca vaccines for frontliners. “It is our privilege to assist the government in bringing the vaccines to Filipinos, particularly to medical frontliners”. he said. <<
PLDT, SMART RAMP UP SERVICES AS LOCKDOWNS EASE PLDT and Smart rolled out customer service protocols in April as the government eased restrictions in certain areas and allowed telco stores to resume operations.
P
LDT and Smart assure their customers that all employees in the stores are regularly tested for COVID-19. Store frontliners are also equipped with face masks, face shields, sanitizing agents and no-touch services to prevent the spread of the virus. Each store undergoes routine sanitation after every transaction between customers. A weekly deep cleaning schedule of stores is also in place. Customers are still highly encouraged to book virtual appointments for their online or in-store
14 THE VIEW
transactions. “We have scaled up our online platforms to ensure that we are always accessible to our customers, ready to provide their needed assistance as they stay in the safety of their homes,” said Smart Communications President and CEO and PLDT Chief Revenue Officer Alfredo S Panlilio. “In the event that our customers decide to visit our stores, we have protocols in place that guarantee their safety, as well as that of our employees,” he added. <<
AWARDS
PLDT Global Enterprise awarded by Alibaba Cloud
PAYMAYA WINS ASEAN BUSINESS AWARD PayMaya was recognized by the Asean Business Awards (“ABA”) 2020 in late November, in the “Combating COVID-19” category.
P
ayMaya’s initiatives in enabling contactless technology in the Philippines allowed consumers and merchants to transact safely and conveniently – mitigating the spread of the virus. ABA is the official awards program of the Association of Southeast Asian Nations, recognizing businesses that make meaningful contributions to their economies and society. In 2020, 53 awards were given from a pool of over 1,000 entries. <<
I
n April 2021 PLDT Global Enterprise received “Project of the Year Award” from Alibaba Cloud for its successful Esport partnership. In 2019, PLDT Global Enterprise and Alibaba Cloud collaborated to provide digital and cloud solutions for Esport matches during the 30th Southeast Asian (SEA) Games, ensuring athletes a seamless and world-class gaming experience. Vic Tria, PLDT FVP and Enterprise Revenue Group Head, highlighted his appreciation. “We are honored to receive such recognition from Alibaba Cloud. We at PLDT Global Enterprise pride ourselves on being able to connect leading technology providers such as Alibaba Cloud to the Philippines while enabling them to capitalize on the country’s thriving digital economy growth.” PLDT has an extensive roster of clients and partners throughout the Asia Pacific, U.S., and Europe. PLDT also owns vast international submarine cable assets spanning across the globe while complementing these with globally certified data centers in the Philippines, to serve the hyperscalers and global internet companies with their digital infrastructure requirements. <<
People of the Year 2021 Awardee
M
PIC’s Chief Finance Officer and Chief Sustainability Director, Chaye A CabalRevilla was recognized in April as one of Stargate PeopleAsia’s People of the Year 2021.
The award honors extraordinary men and women who have not only achieved personal success in their respective fields, but are also being recognized
for spreading hope, taking action, and most importantly, serving others. During her acceptance speech, she said that “During these dark and extraordinary times, no matter how desperate and sad we may be with the anguish around us, we hang on to faith, hope, and love, and try to continue to be the spark and beacons of these three...” <<
MAYNILAD CITED AS “UTILITY OF THE FUTURE” Maynilad won a World Bank citation in March 2021, as a “Utility of the Future” (“UoF”).
T
he World Bank defines a UoF as “a future-focused utility which provides reliable, safe, inclusive, transparent, and responsive water supply and sanitation services through best-fit practices that allow it to operate in an efficient, resilient, and sustainable manner”. Maynilad has been participating in the program since August 2020. The World Bank created the UoF diagnostic tool and actionplanning methodology to help utilities assess their service, including the development of an immediate 100-day action plan to help them overcome challenges and achieve the Sustainable Development Goals. << Chief Operations Officer Randolph T Estrellado with the certificate of citation. THE VIEW 15
ENVIRONMENTAL, SOCIAL & GOVERNANCE
MetroPac Movers takes the lead with COVID-19 vaccine handling MPIC’s logistics arm, MetroPac Movers, Inc. (“MMI”), was selected for the crucial handling of the Philippines’ first COVID-19 vaccines, with 600,000 doses of the Sinovac vaccine arriving in February and 487,200 AstraZeneca doses in March.
“D
uring the height of the lockdown, our Metropac Movers team ensured the steady supply of essential goods by keeping our warehouses operational 24/7. Now that we have been given this critical task of safekeeping and ensuring
MetroPac Movers Inc. receives the AstraZeneca vaccines from Customs and DOH officials.
the integrity of the Sinovac and AstraZeneca vaccines, we are honored to contribute to our country’s economic recovery,” said MMI’s Chief Operations and Transformation Officer River Ho Rathore. MMI, a long-time warehousing partner of the Department of Health (“DOH”), was proven to be compliant with the strict protocols of the government on the storage of temperature-controlled pharmaceutical products. Its Marikina facility is equipped with chiller rooms that can handle temperatures as low as 2 degrees Celsius. <<
AN EXTRAORDINARY YEAR PLDT-Smart Foundation looks back at the past year, working even harder to help more people in challenging times. Watch the video, which was created to thank employees, volunteers, partners and donors.
16 THE VIEW
ENVIRONMENTAL, SOCIAL & GOVERNANCE
FIRST PACIFIC GROUP OPENS EMERGENCY QUARANTINE FACILITY FOR EMPLOYEES First Pacific Group has stepped up its efforts in the Philippines to protect its employees and alleviate the pressure on hospitals by opening an internal emergency quarantine facility.
T
he construction of the facility began in early April 2021. The facility will help care for employees with asymptomatic to mild cases of COVID-19. Select areas within the 10-hectare space of the First Pacific Leadership Academy (“FLPA”) in Antipolo, Metro Manila, have been repurposed into makeshift rooms. These rooms augment FPLA’s existing hotel facilities currently being used to isolate employeepatients. The emergency quarantine facility will provide optimal care to employees and help decongest hospitals in Metro Manila following the recent surge of COVID-19 in the region. The facility will house a total of 240 individual air-conditioned quarantine tents and beds. CONTRIBUTING TO ECONOMIC RECOVERY “The essential services – connectivity, power, water, road networks, among others – we have continuously provided since the onset of the pandemic have been the source of stability for
many Filipinos, and it is our employees – the backbone of all our Companies – that have allowed us to be contributors in moving for economic recovery,” Manuel V Pangilinan said. Doctors and nurses to be housed in FPLA will work on 8-hour shifts 24/7 to treat group employees throughout their 14-day isolation. Meals, medical supplies, and phone and data connectivity are all provided. All internal efforts of the group are part of a broader, overall support for the government in its fight against COVID. “Our efforts to take care of our workforce aim to reduce overall community transmission, while protecting and providing breathing space to hospitals and medical frontliners, who have been our anchor and support as we continue to battle this pandemic,” Pangilinan said. Metro Pacific Hospital Holdings Inc. operates the largest hospital chain in the Philippines. <<
THE VIEW 17
ENVIRONMENTAL, SOCIAL & GOVERNANCE
Education strategies in pandemic times PLDT Home, through the PLDT Smart Foundation (“PSF”), donated to the Department of Education (“DepEd”) 1,000 units of Home WiFi Prepaid to empower public school teachers with fast, reliable internet connection as they conduct online classes to serve the DepEd’s blended learning strategy in these pandemic times.
“W
e are happy to assist the DepEd and its teachers in conducting online classes and facilitating learning among students amid the restrictions brought about by the current pandemic. Our support to the country’s dedicated and hardworking teachers has always been profound. Our gratitude to them, immeasurable. The PLDT Home WiFi
18 THE VIEW
Prepaid will definitely help them manage digital education and reliably connect with their students,” said PSF President Esther Santos. The Home WiFi Prepaid units form part of the proceeds from the PLDT Home-sponsored virtual concert, At Home with PLDT: No Learner Left Behind, held in July last year. Concert donations also funded five sets of School-in-a-Bag to the
DepEd and Home WiFi Prepaid units and load cards to deserving scholars of AHA Learning Center and Kris for Peace Organization, among others. DIGITAL LITERACY OUTREACH PLDT continues its digital literacy program with its Infoteach Outreach Webinar Series, in partnership with the University of the Philippines Open University (“UPOU”). Over 1,000 Grades 7 to 12 students from public schools nationwide participated in the opening session in March. The program helps prepare teachers, students and parents for the new blended learning strategy. “It is the flagship program of PLDT’s corporate social responsibility initiatives. Rest assured that we will stay the course, providing beneficial digital literacy training to our country’s students and teachers. Our first module, for instance, is Digital Productivity Tools, a very relevant topic for our participants,” said PLDT Community Relations Head Katherine Diaz De Rivera. Further topics include Online Collaboration Tools; 21st Century Competencies; Effective Communication Skills; Digital Literacy; Responsible Use of Social Media; Global Digital Citizenship; Cyber Security; Lifelong Learning and Introduction to Sustainable Development Goals. <<
ENVIRONMENTAL, SOCIAL & GOVERNANCE
PLDT, PSF AND TULONG KAPATID CONTINUE SUPPORTS TO FRONTLINERS In April 2021, PLDT-Smart Foundation, together with Tulong Kapatid, have further stepped up efforts to support frontline healthcare workers and affected communities during the second round of enhanced community quarantine.
T
hey provided over 5,000 packed meals daily - sourced from partner food outlets - to frontline healthcare workers from the group’s Metro Pacific Hospitals. On Easter Sunday, the companies also provided hot meals and treats to public healthcare facilities. Tulong Kapatid and First Pacific Group companies are committed to continue providing more meals and PPEs to frontline workers nationwide. SUPPORT FOR HEALTHCARE WORKERS AND FOOD PARTNERS “This is our way of supporting frontliners and contributing a steady source of income
to our partner food entrepreneurs during this challenging time. We are fully committed to help healthcare workers and affected communities combat the pandemic,” said PLDT Chairman and CEO Manuel V Pangilinan. PLDT, together with the Alagang Kapatid Foundation, also provided hygiene kits and food packs to indigent communities severely affected by the lockdown. PLDT partnered with the Makati Medical Center Foundation to provide blankets to the Armed Forces of the Philippines and Philippine National Police quarantine facilities. <<
THE VIEW 19
ENVIRONMENTAL, SOCIAL & GOVERNANCE
them
DEVELOPING NEXT-GENERATION TALENTS Indofood’s food research grant program
I
ndofood believes that developing human capital through education is key in creating a more sustainable and equitable future. One of the pillars of its community initiatives is the Indofood Riset Nugraha (“IRN”) program, supporting rising innovators by providing them with access to opportunities and support for research.
passing the selection process, which entitled them for the funding, as well as direct guidance and supervision from the experts during the research process. In the midst of the COVID-19 pandemic, the theme for IRN is “Millennial and Food Research in the era of new normal towards developing Indonesia”.
Indofood encourages innovation around local food resources and commodities, contributing to the development of nextgeneration local talents who will help strengthen Indonesia’s food security.
The IRN program has unearthed several interesting research proposals, including that of Theresia Sambo, a university student from the province of Papua, with her research on local red fruit as an alternative to rice.
“I received valuable knowledge from the IRN expert team and learned many new and interesting things from my colleagues in IRN 2019-2020. After joining, I can say to fellow students to never give up before trying… because results will never betray the process, when you do it sincerely.”
The research grant is open to students undertaking their thesis research, and those who submit their research proposal to the panel. The IRN research proposal is evaluated by a panel of nine experts in Agriculture and Fisheries Technology; Production Technology (food, animal husbandry, fisheries); Nutrition and Public Health; Molecular Biotechnology; and Socio- Economics.
For the 2020-2021 period, Indofood received close to 300 proposals from 38 local universities, with 60
Indofood collaborates with experts, scientists and distinguished professors of leading universities in Indonesia. Throughout 22 years of IRN’s journey, its research priorities continuously developed in local food diversification, to gradually reduce Indonesia’s dependence on imported food commodities. From all received proposals, over 800 students were selected and awarded grants.
20 THE VIEW
Given the positive impact of the IRN so far, Indofood strives to increase the number of proposals received annually and continue development programs. In the long run, Indofood hopes to develop an innovative talent pool of local food resource researchers across Indonesia. RESEARCHING LOCAL RED FRUIT AS A RICE ALTERNATIVE 22-year-old Theresia Sambo was inspired by her seniors and lecturers at Cenderawasih University (Papua) to submit a proposal for the IRN grant. With their support, Theresia decided to conduct her research on the Red Fruit (Pandanus conoideus), locally known as Buah Merach. The plant is endemic to Papua and West Papua and traditionally used as medicine due to its many health properties. During the pandemic, Theresia continues her research from home. Although research is still underway, initial findings show promising results that Theresia’s rice alternative can be considered for consumption by hyperglycemic patients. Further testing is needed to prove it. <<
ENVIRONMENTAL, SOCIAL & GOVERNANCE
Photo credit: Heinz Reimann D Orais, MPT South Corporation
MPIC, CCLEC champion the mangrove ecosystem Metro Pacific Investments Corporation (“MPIC”) continues its environmental mission with the opening in January of the Mangrove Propagation and Information Center in Cordova, Cebu.
M
etro Pacific Investments Foundation (“MPIF”), MPIC’s corporate social responsibility arm and the Cebu-Cordova Link Expressway Corporation (“CCLEC”), and the local government of Cordova led the opening. The center will help Cordova’s booming ecotourism flourish, serving as the center for the protection and propagation of mangrove trees in Cordova’s coastal areas. “The Mangrove Propagation and Information Center is a legacy project of MPIF and CCLEC for the people of Cordova,” said MPIF President Melody M del Rosario “Similar to our existing centers in Alaminos, Pangasinan and Del Carmen, Siargao, it will create employment opportunities that positively impact the economic condition of their municipality.”
CCLEC, as the builder of the 8.5-kilometer Cebu-Cordova Link Expressway, is committed to the environmental sustainability of the surrounding areas.
“The Municipality of Cordova is thankful to MPIF, CCLEC, and Mr. Manuel V Pangilinan, for the work they put in to successfully establish this facility in our area,” said Mayor Sitoy-Cho. “Aside from being a point of convergence for mangrove information and research, we intend to sustain it through creating complimentary programs that highlight our rich and thriving ecotourism.” <<
RICH AND THRIVING ECOTOURISM Four trained mangrove eco-guides were inducted during the inauguration of the center. The guides will handle daily operations and maintenance of the mangrove center while providing orientation and tours for visitors in the mangrove center and park. “We entrust this Mangrove Propagation and Information Center to the people of Cordova, under Mayor Teche Sitoy-Cho, in the belief that they will use this to advance their environmental and economic agenda,” said MPIC Chairman Manuel V Pangilinan.
(From left) CCLEC President and General Manager Allan G Alfon, MPIF President Melody M Del Rosario, Cordova Mayor Mary Therese “Teche” Sitoy-Cho, and Vice Mayor Ximgil Dino Sitoy cut the ribbon to mark the opening of the Mangrove Propagation and Information Center. THE VIEW 21
ENVIRONMENTAL, SOCIAL & GOVERNANCE
PLDT Group’s energy efficiency drive The PLDT Group is implementing a major drive for energy efficiency across all its operations. It submitted its maiden 2020 Annual Energy Utilization Report and Annual Energy Efficiency and Conservation Report to the Philippines’ Department of Energy (“DOE”). These reports reinforce PLDT Group’s commitment to responsible energy use, as one of the key areas that will ensure sustainable operations in its delivery of its products and services. WALKING THE TALK Smart recently announced its foray into fuel cell-powered sites, an environmentally-friendly alternative that will simultaneously address connectivity issues in challenged-grid areas nationwide. The system is based on methanol-powered fuel, which can be combined with renewable resources to present a sustainable, cost-effective eco-system.
P
LDT Chief Revenue Officer and Smart Communications President and CEO Alfredo S Panlilio explained, “As greenhouse gas emissions arise from energy consumed in the operation of our business, particularly by our network, our offices and data centers, and emissions from our transport vehicles, the PLDT Group aims to do its share in protecting the environment through energy efficiency programs that will result in reducing our carbon footprint,” The reports submitted to the DOE cover PLDT Group’s 10,000+ cell sites and 200 offices, business centers, and data centers, including PLDT and its subsidiaries, Smart and ePLDT. It will serve as a baseline from which progress from energy efficiency initiatives will be measured.
22 THE VIEW
PLDT has upgraded chillers (which typically consume 30% to 50% of a building’s power) in its facilities in Sampaloc, Ortigas and Dansalan to optimized oil-free versions. Savings
estimated for the chiller replacement initiative can be up to 60%. ePLDT operates the group’s data center business. It has replaced old high-power consumption equipment with new and more efficient machines, and improved air flow efficiency and cold aisle containment in the centers. “The PLDT Group is cognizant of its role in contributing to the preservation of the planet and is committed to ensuring the sustainability of our businesses including increased focus on energy efficiency in our operations,” Panlilio said. <<
“
THE PLDT GROUP AIMS TO DO ITS SHARE IN PROTECTING THE ENVIRONMENT THROUGH ENERGY EFFICIENCY PROGRAMS THAT WILL RESULT IN REDUCING OUR CARBON FOOTPRINT.
”
PLDT Chief Revenue Officer and Smart Communications President and CEO Alfredo S Panlilio.
ENVIRONMENTAL, SOCIAL & GOVERNANCE
IDEASPACE INGENUITY FOR HEALTHCARE PROFESSIONALS Overworked medical professionals in the Philippines can now access new levels of online help with their 2021 tax administration. Taxumo, a startup graduate of IdeaSpace Batch 4, is an end-to-end online tax assistance platform that has partnered with home health care super app AIDE to provide its services to their 4,000 medical professionals.
A
ccording to Taxumo CEO EJ Arboleda, they will be able to enjoy the ease and convenience of computing, filing, and paying their taxes through its BizReg service at substantially lower subscription rates of up to almost 60 percent. Taxumo will also conduct exclusive webinars for doctors to help them understand the administration of taxes, business registration, and Taxumo’s services. The partnership is not only about the professionals but also about their patients. THE FUTURE OUR WAY IdeaSpace is a tech accelerator supporting early-stage technology entrepreneurship in the Philippines. To date, IdeaSpace has mentored and supported 107 startups under its acceleration program and Opportunity Fund and has invested over 200 million worth of support into the Philippine startup ecosystem. IdeaSpace has seamlessly moved its acceleration program to be 100% virtual and is now organizing the bootcamp for its 2021 program. The accelerator is looking for startups in: agritech and foodtech, edtech, healthcare, wellness, and wellbeing, e-commerce and logistics, media and entertainment, fintech, and B2B startups. <<
THE VIEW 23
PHOTO COMPETITION
6 TH FIRST P AC I FI C GR O UP PHO T O COMP E T I T I O N Congratulations to the five talented photographers who were selected as winners of the Photo Competition, and of course, to the participants from 29 companies! The entries were striking in their showcasing of work-from-home, e-learning, my neighborhood and serving our customers in the new normal. Prizes ranged from US$2,000 for the Champion to US$600 for the 4th Runner-up. Be inspired to take part in the next First Pacific Group Photo Competition later this year!
Champion e-Learning from home Satrio Utomo PT Indofood Sukses Makmur Tbk
24 THE VIEW
Right column from top to bottom: 1st Runner-up Social distancing Gene Marc D. Esparagoza St. Elizabeth Hospital Inc. 2nd Runner-up New normal fashion Heinz Reimann D. Orais MPT South Corporation 3rd Runner-up e-Learning while selling rujak bebek Keleri Ginting PT Indofood Sukses Makmur Tbk 4th Runner-up Endeavor Kenneth Clor Horique Asian Hospital & Medical Center
5/2021
STRONG AND DIVERSIFIED IN FAST-GROWING ASIA
www.firstpacific.com
2 First Pacific’s 40th anniversary message | 7 PayMaya powers e-Commerce 9 Healthier delicious noodle | 10 CCLEX blesssed and illuminated
