THE VIEW 11/2023 by First Pacific Company

11/2023

FIBA BASKETBALL WORLD CUP 2023: A WIN FOR ALL

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6 The successful privatization of MPIC | 12 Indofood at the Jakarta Fair 16 Seeing green, seeing transformation | 22 PLDT’s online child protection

THE VIEW – November 2023

V IS IT THE V IEW ON L IN E

The FIBA Basketball World Cup 2023 has been acclaimed by FIBA, players, fans and participants as an extraordinary sporting success. With Smart as its Global Partner and First Pacific Group companies in the Philippines in full support, it highlighted Philippine hospitality as well as organizational excellence. Samahang Basketbol ng Pilipinas (“SBP”) Chairman Emeritus Manuel Pangilinan oversaw the fulfilment of a national dream to host the league of basketball nations: “a gift to the Filipino people who adore the sport.” All photos and videos are courtesy of FIBA’s photographers, Tomas Kriz at Cignal TV and TV5.

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 EDITORIAL AND DESIGN TEAM Editor Julia Brown Production Director Katy Li Creative Director Jan Adams

Welcome to the November edition of The View and visit our online version at www.firstpacific.com/press/ theview. It highlights stories from First Pacific and our investee companies with videos to bring the 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 Truly a Win for All – the FIBA Basketball World Cup 2023 6 The successful privatization of MPIC 8 PLDT Enterprise presents PH Digicon 2023: the future of digital leadership 10 Maya takes the market 11 Meralco invests 15.9 billion in SP New Energy 12 Indofood at the Jakarta Fair Kemayoran 2023 13 New snack flavors, unstoppable innovative approaches 14 Collaboration sensation – ChocRocks Cone Indomie Goreng and ChocRocks Bar Red Velvet 14 Crispy cuisine is a winner – Racik Tepung Bumbu 15 ASEAN Business: transformation through technology 16 Philex: Seeing green, seeing transformation 17 PLDT recognized in TIME Magazine’s World Best Companies 2023 17 Brand Finance named PLDT as the most valuable brand in the Philippines 18 First Pacific Group companies win governance gold awards 18 PLDT boosts national DQL 19 PLDT Global wins Most Innovative award for healthcare gateway 19 Philex reaps Government natural resources award 20 Indofood takes top brand awards in Indonesia 20 Indofood acclaimed with ‘Longlife Achievement’ Halal Award 20 Indofood awarded for sustainable environment-focused production 21 CCLEX lauded as Outstanding Project of the Year 21 Young scholars honored with transformative support program 21 MPIC wins in Nature and Biodiversity Leadership 22 Digital solutions and shields for the protection of children 23 PLDT and Smart: Be Kind. Recycle. 24 #ConnectedWithNature 25 Forests and watersheds First Pacific is a Hong Kong-based investment holding company with investments located in Asia-Pacific. The Company’s principal investments are in consumer food products, telecommunications, infrastructure and natural resources. Within these sectors, our mission is to unlock value by: Delivering dividend/distribution returns to shareholders; Delivering share price/value appreciation of First Pacific, and Making further investments 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 Fellow members of the First Pacific family

Welcome to the year-end Christmas edition of The View. This Christmas issue traditionally looks at the year about to end to glean lessons learned, and report the good news as well. With just a few weeks left, 2023 is looking like another milestone year for the First Pacific Group of companies. Perhaps our most exciting achievement this year was our hosting of the FIBA Basketball World Cup in Manila, which garnered 20 billion impressions and 480 million engagements across all platforms – more than triple the numbers of the previous 2019 World Cup in China. Several Group companies contributed to this success – Smart was FIBA’s official global partner, Cignal TV and TV5 brought the games to millions of fans at home and abroad, NLEX managed the enormous traffic to and from the games, and Meralco ensured uninterrupted power supply to the venues and in the host hotels. The most significant commercial event in our Group this year is the successful delisting of MPIC and the introduction of new partners from Government and from Japan – in the form of the Philippine Government Social Insurance System (“GSIS”) and Mitsui-backed Mit-Pacific, respectively. As an unlisted company, we expect it to be more nimble in the pursuit of new businesses across the region, and leaner in the pursuit of profitability for its shareholders. It must also be noted that several group companies are likely to report record high numbers for the full year 2023, if nine-month data are a guide

to go by. The third-quarter earnings reports show record high revenues and EBITDA at our core businesses – Indofood, MPIC, Meralco, PLP, and PLDT. The first four of these recorded record high core profit in their most recent filings, which bode well for First Pacific – which itself reported its own record high turnover, contribution, and recurring profit for the first half of 2023. Elsewhere in this edition, you will see more superlatives. PLDT has been recognised in Time Magazine’s list of the world’s best companies and named by Brand Finance as the most valuable brand in the Philippines. Our Maya fintech startup has seized the digital financial services market with a dominant market share built on its unrivalled digital banking operations. Not to be outdone, Indofood’s ICBP unit won a lifelong achievement award at the LPPOM MUI Halal Award 2023 for its high-quality food products meeting strict Muslim food criteria while Indofood itself won top brand awards and a prize for sustainable environmentfocused production. Also, it must be reported that Indofood continued to introduce new food products and flavors, particularly for snacks with its robust approach to innovation. As we gather with our loved ones to celebrate Christmas, we should be thankful that our hard work and dedication this year have continued to pay off for our customers, our suppliers, and for all our stakeholders. Thank you all very much for your dedicated service, and may all of you have a blessed and happy Christmas. MVP THE VIEW 1

FIBA BASKETBALL WORLD CUP 2023

It all started with a dream from Samahang Basketbol ng Pilipinas (“SBP”) Chairman Emeritus Manuel V Pangilinan. Filipinos are the biggest basketball fans in the entire planet, and they deserve to watch the best players in the world, in the sport’s most prestigious international competition - the FIBA Basketball World Cup 2023 (“FIBAWC”).

or Pangilinan, FIBAWC was a chance to show the Filipino culture and unique hospitality to the world, and “a gift to the Filipino people who adore the sport.” It was also an opportunity for Philippine basketball to create legends. “To have our hard courts, our backboards and hoops, our fans bear witness to the story of Philippine basketball as it is written – to emphasize that this basketball-crazy country of ours belongs to the league of basketball nations and for the Philippines to be a cradle of enduring legends.” It would not be a walk in the park, as the Philippines’ first attempt to host the FIBA Basketball World Cup fell short in 2015. However, like a true sporting hero, the Philippines bounced back strongly and teamed up with Japan and Indonesia to form an alliance that won the right to host the quadrennial event in 2023.

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SMART SHINES AS OFFICIAL GLOBAL PARTNER As staunch supporters of sports, PLDT and Smart have long been active in sports development - from grassroots to the national level. The integrated telco is part of various groups working tirelessly to help nurture athletes, build training grounds, and bring international sporting events closer to Filipinos whether live or online. The MVP

FIBA BASKETBALL WORLD CUP 2023

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All photos and videos are courtesy of FIBA’s photographers, Tomas Kriz at Cignal TV and TV5. THE VIEW 3

FIBA BASKETBALL WORLD CUP 2023

emerged a winner, true to the FIBA Basketball World Cup 2023’s campaign – #WinForAll.

Sports Foundation, a non-profit organization dedicated to this endeavor, has also been supporting 17 national sports agencies to support athletes who represent the Philippines in global tournaments. As FIBA’s official global partner, Smart powered the FIBAWC experience with enhanced network by boosting Smart LTE and 5G networks at FIBAWC venues. Smart also pulled out all the stops to bring epic basketball fan experiences to subscribers. Ten days before the games, the company transformed the Mall of Asia Ball into a giant basketball with a hoop for one of the most awe-inspiring basketball tributes ever seen. The giant installation officially signaled the country’s all-out efforts to kick off the hosting of the FIBAWC. Smart then unveiled an interactive LED billboard with a massive basketball ring and augmented reality integration along EDSA, complete

with a QR code allowing fans to view FIBA stars’ signature moves on their smartphones. CELEBRATING A WIN FOR ALL As Germany celebrated winning their first ever FIBA Basketball World Cup title in history at the sold-out Mall of Asia Arena on 10 September, it was undeniable that the Philippine Local Organizing Committee (“LOC”), backed by a myriad of partners from the government and private sector, pulled off a historic feat by hosting an unforgettable sporting event. “I’m very proud of all the LOC staff members and volunteers, and feel extreme joy for the coming together of the FIBA community to make this World Cup a memorable one,” says SBP President Alfredo S Panlilio. While the German basketball team won the beautiful Naismith Trophy, every single person who was part of the historic delivery of the game

The event saw a major step forward in the players’ experience as there were dedicated player lounges, which were designed with the help of former basketball player, The LOC performed above and beyond expectations, allowing the players of the qualifying teams to focus on giving it their all on the hardcourt. According to Panlilio, “From what I’ve been told, it’s all positive. From the time they stepped into the airport, all the way to the hotel, the treatment of the people - they are all smiling, very warm, and they find solutions for you.” The World Cup was a big win for the country, as it was the first time that the Philippines hosted the world’s biggest basketball competition since 1978. RECORD-BREAKING FAN ENGAGEMENTS The FIBA Basketball World Cup 2023 was also a big win for the fans, generating 20 billion impressions and 480 million engagements across all platforms – more than triple the numbers in the China-hosted 2019 competition. The number of social media video views were even more eye-popping, as they rose four-fold, reaching 4.6 billion. The @FIBA and @FIBAWC accounts gained 4.5 million new followers between the span of the Draw and the Final game, and FIBA World Cup App was downloaded 1 million times.

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4 THE VIEW

FIBA BASKETBALL WORLD CUP 2023

The games were seen in 190 countries and were witnessed live by 700,665 fans in Bulacan, Metro Manila, Jakarta, and Okinawa, including the record-breaking 38,115 gate attendance at the Philippine Arena for the game between Gilas Pilipinas and the Dominican Republic. This shattered the almost thirty-year-old record of 32,616 fans set at the SkyDome in Toronto, Canada at the 1994 World Cup Final. OUTREACH AND LASTING IMPACTS Children from the three host countries enjoyed the experience of a lifetime. A total of 384 young boys and girls participated in the games in Manila and had the opportunity to stand beside the players during the playing of the national anthems. Most of the children came from impoverished backgrounds, with the PLDT-Smart Foundation engaged in the selection process, through its partner orphanages and public schools. Soldiers from the Philippine Army, Navy, Air Force, and Coast Guard also sent their children to participate. The hosting of the Philippines also generated goodwill in different communities, including the famous Fort Bonifacio Tenement, which was given a spectacular makeover as part of FIBA’s Revamp My Court initiative. One long-lasting effect expected from the country’s hosting of the World Cup is the continued development of basketball in the country, due to the transfer of knowledge and technology. Many of the volunteers who served as team liaisons were either Filipino coaches or players, who gained the experience of seeing different brands of basketball, further opening up their horizons on how they can improve their skills. COLLABORATING FOR SUCCESS Group companies under the MVP banner lent their personnel and other resources to ensure the successful hosting of the event. Together with PLDT, Smart established a Command

Center in their headquarters and mobilized dedicated teams to monitor network performance during the tournament. Additionally, employees from PLDT and Smart shared their talent, tireless efforts, and dedication either as part of the Local Organizing Committee or the FIBA Volunteer Program, passionately collaborating with various groups to ensure the success of this global event. The NLEX traffic operations department under the Metro Pacific Tollways Corporation, ensured that traffic was properly managed for the opening day games and ceremonies at the Philippine Arena. Cignal TV, the official rights-holder and broadcaster of the World Cup, brought the games to millions of Filipino homes through its various channels and platforms.

Meralco, for its part, ensured that the power supply for the event would remain uninterrupted, which allowed all FIBA Basketball World Cup activities to power through without a hitch. Maynilad and the MVP hospitals also contributed to their services to complement the overall experience. And of course, the MVP Sports Foundation was part of the entire process, from the moment when the Philippines made its initial bid to host the event. As a result of the spectacular success of the 2023 tournament, FIBA and Smart have renewed their Global Partnership until after the FIBA Basketball World Cup 2027 in Qatar. The partnership is a tribute to Pangilinan’s vision for basketball and the Philippines - and truly a win for all. << THE VIEW 5

NEWS

The successful privatization of MPIC through a voluntary delisting tender offer

n 26 April 2023, First Pacific through its Philippine affiliate, Metro Pacific Holdings, Inc. (“MPHI”), entered into a Memorandum of Agreement with a consortium of bidders including GT Capital Holdings, Inc., Mit-Pacific Infrastructure Holdings Corporation, and MIG Holdings Incorporated (collectively, the “Bidders”) to seek to take MPIC private through a tender offer process at a price of 4.63 pesos (US$0.08) per MPIC share. The tender offer price was raised to 5.20 pesos (US$0.09) per MPIC share on 3 July 2023. The revised tender offer price values MPIC at 149.2 billion pesos (US$2.7 billion) in equity value on a 100% basis. SHAREHOLDERS’ APPROVALS At a Special Shareholders Meeting of MPIC held on 8 August 2023, MPIC shareholders representing over 77% of the total outstanding common shares voted to approve the proposal for voluntary 6 THE VIEW

delisting, while less than 1% voted against. The voting result fulfilled requirements under the Amended Voluntary Delisting Rules of the Philippine Stock Exchange (“PSE”) for the tender offer to proceed.

At a Special General Meeting of First Paciifc held on 24 August 2023, over 99.99% of First Pacific shareholders voted to approve MPHI’s participation in the Bidders’ tender offer.

At the closing of the tender offer period on 19 September 2023, 19.04% of MPIC shares held by the minority public shareholders had been tendered. Together with the existing shareholding in MPIC of the Bidders, qualifying common shares of members of the MPIC board of directors and other nonpublic shares, the total equivalents to 97.22% of MPIC’s total issued and outstanding listed shares which exceed the 95% threshold required under the Amended Voluntary Delisting Rules of the PSE. Following the closing of the tender offer and receiving the relevant final allocation of MPIC shares tendered, MPHI’s shareholding at MPIC increased from 46.1% to approximately 48.2% with a consideration of approximately 3.2 billion pesos (US$57 million). MPIC was delisted from the PSE on 9 October 2023. RELEASING MPIC’S INTRINSIC VALUE The tender offer aims to release the intrinsic value of MPIC’s core investments in infrastructure in the Philippines. No substantial change in the nature of MPIC’s businesses is planned, which will continue to focus on key sectors including power, toll roads, water, healthcare, rail and newer businesses in food and agriculture. <<

AN INFRASTRUCTURE POWERHOUSE MPIC is a leading infrastructure holding company in the Philippines, a market that is expected to enjoy sustained economic growth in the years ahead. The company owns, among other assets:

47.5%

99.9%

of Manila Electric Company

of Metro Pacific Tollways

(“Meralco”), the biggest electricity

Corporation, the largest toll

distributor in the Philippines

road developer and operator

and one of the country’s largest

in the Philippines

electricity producers

20.0% of Metro Pacific Health Corporation, the largest private hospital operator and healthcare service provider

52.8%

of Maynilad Water Services, Inc., the largest water and sewerage provider in the Philippines by population coverage

in the Philippines

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NEWS

PLDT ENTERPRISE PRESENTS PH DIGICON 2023: THE FUTURE OF DIGITAL LEADERSHIP “We’re thrilled to bring together visionary leaders, business owners, and professionals to explore the dynamic intersection of humanity and technology. Our aim is to empower enterprises across various sectors to embrace forward-thinking strategies and the latest technological advancements.” said PLDT and Smart First Vice President and Head of Enterprise and International Business Groups Mitch L Locsin.

his October, PLDT Enterprise hosted the PH Digicon 2023 in Manila with the theme VISION: Reimagine Tomorrow’s Enterprise. The digital convention is designed to help drive technological enablement for enterprises. PLDT’s Digicon has grown a global reputation for innovation leadership over the years and today’s technology giants are among its event partners. This year, PLDT launched ePLDT Pilipinas Cloud (“ePPC”) - the Philippines’ first sovereign cloud infrastructure - at the event, as well as showcasing its Smart Home technology and AI for families. ePLDT GIVES THE PHILIPPINES ITS FIRST SOVEREIGN CLOUD ePLDT, the ICT subsidiary of PLDT, is the first Filipino corporation to offer a sovereign cloud to support the digital transformation of the country’s public sector. The ePPC infrastructure will serve the primary purpose of hosting highly sensitive government data and applications in a trusted cloud environment. Owned and operated by a domestic organization, the infrastructure provides a secure, flexible, and costeffective platform to store and process data. It guarantees strict enforcement of the Philippines’ data protection law and regulations. All sensitive data, including classified information related to national security and confidential personal information of citizens, are 8 THE VIEW

stored, and processed locally in a secure and compliant manner, free from unauthorized access, risk of foreign surveillance or interception, and cyber-attacks. “We are proud to take the lead in launching ePLDT Pilipinas Cloud, the Philippines’ first sovereign cloud infrastructure. This affirms our support for the government’s digitalization push and our commitment to continuously power the digital future of the nation by providing the necessary infrastructure that enables inclusive economic growth,” said PLDT and Smart, President and CEO and ePLDT Chairman Alfredo S Panlilio.

GAME CHANGER A sovereign cloud is being adopted in many countries so that government institutions can maintain control and security over their data, in compliance with each country’s local regulations. ePPC proves that the Philippines can achieve global excellence in the latest cloud computing technology. “With ePLDT’s technical expertise and experience in delivering multi-cloud and data center solutions, backed up by our unique understanding of the Philippine government’s requirements, we are confident we can ensure the seamless deployment and management of the country’s first sovereign cloud aligned with global standards,” said ePLDT President and CEO Victor S Genuino. BOLD STRATEGIC STEPS ePPC is expected to revolutionize government processes and operations. In addition to ensuring the utmost protection of their data, government agencies can leverage ePPC’s robust infrastructure to promote efficient collaboration, drive productivity, and unlock new possibilities to better serve the people. The benefits of the sovereign cloud will ultimately extend to ordinary Filipinos as the platform is poised to transform the way government

PLDT Group executives led by PLDT Chief Transformation and Customer Officer Emmanuel C Lorenzana, PLDT SVP and Chief Technology Officer Jojo G Gendrano, PLDT and Smart First Vice President and Head of Enterprise and International Business Groups Mitch L Locsin, and ePLDT President and CEO Victor S Genuino, opened the two-day event with a ceremonial lighting up at the Digi Grounds.

NEWS

agencies manage their operations, resulting in enhanced service delivery. ePPC is expected to help reduce latency and improve the performance and response time of critical applications. “We laud the PLDT Group for their visionary approach in taking bold, strategic steps to develop the Philippines’ first sovereign cloud infrastructure. Their dedication and expertise to advancing the local ICT industry make them the ideal partner to drive this initiative,” said Department of Information and Communications Technology Secretary Ivan John Uy. “We look forward to the positive impact of ePPC in fast-tracking digitization and putting the Philippines on the world map as an emerging leader in cloud computing technology,” said Uy. LEADERSHIP WITH VISION For 2023, the adopted theme of VISION reflects the goal to empower tomorrow’s tech titans and enterprises, ignite futureforward thinking, explore cuttingedge technologies, and inspire leaders and business owners to drive success in the evolving business landscape. “This theme aligns perfectly with our overall VISIONARIES brand campaign of inspiring visionary leadership and innovative thinking, which are

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essential for navigating the digital landscape,” said PLDT Enterprise Vice President and Head of Marketing Chet Alviz. Visionary Leadership was the topic of the event highlight, when Simon Sinek, a renowned speaker and author of bestselling books on leadership and innovation, addressed attendees in an exclusive live broadcast. He said, “I’m deeply impressed by the Philippines’ growing digital footprint in the region. The enthusiasm for innovation and the commitment to harnessing technology’s power are truly remarkable. It’s a privilege to be part of PH Digicon 2023.” PH Digicon 2023 was powered by Cisco, Huawei, Nokia, Google Cloud, Samsung, ZTE, Fortinet, Soprano Design, CSG, Dell, Ericsson, and Maya. “PH Digicon 2023 is not just an event; it’s a movement. We’re creating a platform where innovation meets inspiration, and we invite everyone to be a part of this transformative journey,” said President and CEO of ePLDT Victor S Genuino. PLDT PROMOTES RESPONSIBLE USE OF SMART HOME TECH AND AI FOR FAMILIES Recognizing its role in enabling families to foster meaningful connections at home, PLDT held

a Digicon session called “Family Perspectives on Smart Homes and Artificial Intelligence.” PLDT Vice President and Head of Home Digital Services, Evert Miranda, led conversations about the impact of Smart Home technology and AI on family life, parenting, and home security. She was joined in the discussions by PLDT Home ambassadors Edric and Joy Mendoza, industry partners from Microsoft Philippines and eufy, and technology advocate Ramon Isberto. PLDT also outlined their 24/7 cyber security operations and highlighted the importance of responsible use of these technologies. As access to Smart Home technology and AI applications becomes increasingly universal, PLDT strives to deliver education and support. Smart Home solutions and AI offer a variety of benefits to consumers, including convenience, comfort, productivity, and security. A SUSTAINABLE AGENDA The session aligns with the PLDT Group’s agenda for sustainability, particularly supporting focus areas on digital inclusion, cyber security, customer welfare, and child protection. “As we enable access to these evolving digital solutions, our thrust at PLDT is to ensure that each connecting customer and end-user gets to fully maximize the benefits of technology, while being safe and protected from potential threats and harms online,” said PLDT First Vice President and Chief Information Security Officer Angel Redoble. PLDT First Vice President, Chief Sustainability Officer, and PLDT Head of Investor Relations Melissa Vergel de Dios explained, “Sustainability for PLDT is not just about managing our environmental impact and taking action on climate, it is also about staying true to our purpose of delivering meaningful connections to our customers, helping narrow the digital divide among Filipinos, and doing business responsibly.” <<

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NEWS

Maya takes the market Leading the Philippines with digital banking innovations

aya Bank Inc. is the number one fintech ecosystem in the Philippines, with the largest number of depositors and merchants. Its finance app rates as number one among all finance apps in the Philippines. As of August this year, Maya dominated the market with 61% of the country’s digital banking accounts, according to the Bangko Sentral ng Pilipinas (“BSP”). Maya Group President and Maya Bank co-founder Shailesh Baidwan told The Philippine Star, “With Maya, we’re enabling Filipinos to make their money work harder and we’re very happy to see our all-in-one digital banking thrust working for our customers. It inspires us to continue to create innovative and meaningful financial services for the large segments of unbanked and unhappily banked customers.” Maya has transformed the country’s financial services landscape with the integration of artificial intelligence and

machine learning capabilities in its all-in-one digital banking platform. Among its comprehensive lending products for consumers are Maya Credit, Maya Pay in 4, and Maya Personal Loans. Maya recently focused on the fastgrowing gaming sector and has partnered with Singapore-based Coda, a content monetization solutions provider, to enhance savings for gamers. Maya gamers can now conveniently access Codashop for purchases and would be able to earn up to 10% interest rate per annum on their Maya Savings by simply pay through Maya. Maya Head of Consumer Solutions and Marketing Justin Dayrit told The Philippine Star, “Together, we’re redefining the way our customers play and spend, empowering Filipinos with a world of possibilities,” Coda Payments Philippines Country Director Heidi Mendita-Garayblas explained,

Present at the MOA signing ceremony between the DTI and Go Digital were DTI officials led by Trade Secretary Alfredo Pascual and Assistant Secretary Jean Pacheco; GDP officials led by its Chairman of the Board Carlos Gatmaitan and Mishy Co, GDP Executive Director and member of the PSAC-Digital Infrastructure sector; PLDT Enterprise Vice President and Head of Business Development and Industry Consulting Ding Villarino; representatives from Maya led by Martin Mauhay, Head of P2M and Acceptance Business, Pete Cruz, Head of Enterprise, and Spencer Romano, Associate Director - Enterprise; and CSJ Events Management President Catherine Jalandoni. 10 THE VIEW

“Coda advocates for a safer, smarter and more responsible gaming ecosystem and this includes spending and saving wisely. We’re proud to promote a culture of savings across Coda’s communities together with Maya and we hope our customers will take full advantage of the savings that await them.” MAYA CENTER STAGE IN CASHLESS SOLUTIONS This November, PLDT and Maya back the Go Digital Pilipinas and the Philippine Department of Trade and Industry to co-present the pioneering Cashless Expo 2023. The Expo will bring together key players in the regional digital and financial ecosystem and be a magnet for engaged consumers. It will showcase an array of digital financial services, payment solutions, and contactless innovations tailored for consumers and MSMEs. “With this expo, we aim to realize our vision of increasing digital adoption among merchants, promoting cashless transactions among consumers, and showcasing Filipinomade products at the forefront,” said PLDT Enterprise Vice President and Head of Business Development and Industry Consulting Ding Villarino, who represents PLDT at the Private Sector Advisory Council to spearhead Digitalization initiatives. <<

NEWS

Meralco invests P15.9 billion in SP New Energy Plans to develop vast solar project in Luzon

eralco, the Philippines’ largest private sector electricity distribution utility, is expanding its renewable energy portfolio with the aim to support the government’s goal to shift the country to green energy. RENEWABLE ENERGY AT THE HEART OF CORPORATE STRATEGY On 13 October 2023, First Pacific shared that MGen Renewable Energy, Inc. (“MGreen”), the renewable energy development arm of Meralco Powergen Corporation (“MGen”), a wholly owned subsidiary of Meralco, will invest 15.9 billion (approximately US$280 million) in SP New Energy Corporation (“SPNEC”) through the subscription of 15.7 billion common shares and 19.4 billion redeemable preferred voting shares in SPNEC.

our commitment to creating longterm value in Asia.”

SPNEC’s parent Solar Philippines Power Project Holdings, Inc. (“SPH”) for 2.0 billion, announced on 28 March 2023. MGreen has agreed with SPH to use SPNEC as the primary vehicle to develop 3,500 Megawatts of solar electricity generation and 4,000 Megawatt-hours of battery energy storage at the planned solar facility in Luzon.

MPIC is the largest shareholder in Meralco and is an affiliate of First Pacific. SPNEC is a Philippine-listed company and is an integrated developer, owner, and operator of solar power projects.

“This will be one of the largest solar projects in the world,” said Meralco Chairman and CEO Manuel V Pangilinan, “The Philippine Department of Energy’s vision is to have about 35% of the country’s energy come from renewables, and this is a major contribution to this goal.”

ONE OF THE WORLD’S LARGEST SOLAR PROJECTS The fresh injection of capital by MGreen will fund the construction and expansion of its solar projects. The investment by MGreen follows MPIC’s acquisition of 1.6 billion common shares of SPNEC from

CEO of SPNEC Leandro Leviste added, “We are humbled and grateful for this opportunity to build this renewable energy platform with Meralco. We look forward to bringing together Meralco’s capabilities and our solar developments for the benefit of all stakeholders.” <<

Upon closing, MGreen’s common and preferred voting shares in SPNEC will account for the controlling stake of 50.5% in SPNEC. Executive Director of First Pacific Christopher H Young noted, “This investment is integral to First Pacific’s strategy of putting renewable electricity generation at the heart of THE VIEW 11

NEWS

Indofood at the Jakarta Fair Kemayoran 2023 PT Indofood CBP Sukses Makmur Tbk (“ICBP”) staged its much-anticipated Rumah Indofood (Indofood’s House) at the Jakarta Fair Kemayoran (“JFK”) 2023.

t is one of the largest, longeststanding and most comprehensive annual expo in Southeast Asia, celebrating the anniversary of Jakarta. Initially held in 1968, it has grown to a vast magnet for shopping, exhibitions, entertainment, exclusive demonstrations, food and beverage. This year, the Fair lasted for 33 days, from 14 June to 16 July 2023. JFK Organizing Committee Chairperson Karuna Murdaya reported in Tempo.co that the number of visitors reached 6.3 million with a transaction value of over Rp7.3 trillion. Over 1,600 booths from 2,500 companies participated. Showcasing the theme “Fun Gathering at Indofood’s House”, Rumah Indofood 12 THE VIEW

Left to Right: Persija stars Riko Simanjuntak, Hanif Sjahbandi, Rio Fahmi, Muhammad Ferrari, and Aji Kusuma at the meet-and-greet program.

events at JFK 2023 to bring players, fans, media and the public together in meetings, quizzes, interviews and dining opportunities.

occupied around 2,000 sqm featuring the Indomie “Warmindo” food stalls, the “Indomilk Your Way” booth, and several stands spread across the Jakarta International Expo Kemayoran. Indofood has participated in this exhibition for decades, demonstrating its loyalty and solidarity with Indonesian families for many generations. Steeped in Indonesian culture, Indofood creates a world of fun, food, culture and sport.

As one of the most successful football clubs in Indonesian football history, Persija has fervent supporters, such as the Jakmania fans. The atmosphere was electric as Indofood hosted a meet-andgreet with five top football players. Fans waited for hours to attend the event and interact with their idols. The Persija players praised their enthusiasm as well as Indofood’s support for the team.

PERSIJA STARS SHINE AT EXCLUSIVE EVENT Indofood is one of the sponsors of the Indonesian Football Association of Jakarta (“Persija”) for Liga 1 2023-24. The company staged a program of

CHEF NICKY TIRTA WOWS AUDIENCES Rumah Indofood hosted a program of culinary demonstrations featuring celebrity chef, Nicky Tirta. Audiences were invited to offer ideas for unique

NEWS

BLOCKBUSTER MOVIE MEET-ANDGREET EXCITEMENT Visitors to Rumah Indofood were excited to have the chance to engage with the stars of blockbuster movie Petualangan Sherina 2 (Sherina’s Adventure 2). Indofood sponsors the movie through its Indomilk Steril and Chiki brands. The movie’s acclaimed Directors and cast attended a meet-and-greet program hosted by Indofood. Celebrity Chef Nicky Tirta at the Cooking Demo at Rumah Indofood Jakarta Fair Kemayoran 2023.

dishes and menus, using Indofood quality products. Tirta displayed his creative chef’s skills in real time to make novelties such as Indomie Carbonara Cubes and Iced Melon Freiss Syrup Crystal Jelly.

Guests discussed the characters’ adventures and challenges in the movie, where they come to learn courage and to treasure friendships and family. The movie offers timely messages to new generations about the strength of Indonesian cultural roots and values.

Petualangan Sherina was first produced 23 years ago, garnering huge success and has become an important milestone of the history of Indonesian cinema. The 2023 sequel is on track to beat records, having 2 million viewers within 19 days of release. <<

Petualangan Sherina 2 Directors and cast at exclusive event.

NEW SNACK FLAVORS, UNSTOPPABLE INNOVATIVE APPROACHES Year after year, local and global snack food players pop up in the Indonesian market, using social media to create the next viral food trends.

et Indofood continues to retain its position as one of the key players. How does the company do it? By creating breakthrough products and innovative marketing campaigns, supported by market research. As a modern snack pioneer in Indonesia whose target market is primarily pre-teen and teenagers, Indofood’s culture is nimble and innovative. Its latest product launches – Chiki Twist Flaming Hot and Chitato Lite Aburi Seaweed – prove the point. FLAMING HOT IN THE MARKET Chiki Twist Flaming Hot was created to fulfill the target market’s obsession

with spicy food. Recognizing the target consumers’ preference for excitement and an adrenaline rush, Indofood developed the variant to add to its previously non-spicy portfolio. The flaming hot flavor was the star of the launch communication, with the message carried throughout the campaign, from TVC, digital video to influencer reviews. The brand collaborated with BIKLAN, a group of digital animators, to create a threeepisode video series titled Flamin’ Fire. Indofood also held sampling activities in middle schools and at the Jakarta Fair by collaborating with the hype of Petualangan Sherina 2. JAPANESE SENSATION, BIG-SCREEN ACTION Chitato Lite Aburi Seaweed is Indofood’s latest addition to its Chitato Lite’s Flavors of the World series. Inspired by the Japanese aburi culinary technique, the potato

chips are infused with a hint of flameseared seaweed flavor that set them apart from comparable products in the market. The unique flavor demanded an equally unique launch marketing plan. Its advertising originated with the campaign idea of “Japanese potato chips that are not sold in Japan”. The idea was executed with a breakthrough use of interactive videotrons featuring a battle between Lite-Man and the Potato Monster. The battle was projected on two videotrons on the opposing sides of a major road in the heart of Jakarta. As the action flashed from one side of the road to the other, road users were engaged in the new product - as well as entertained. The launch also featured branded commuter train stations and a concert in Jakarta featuring J-Rocks, a Japanese-Indonesian rock band. << THE VIEW 13

NEWS

COLLABORATION SENSATION ChocRocks Cone Indomie Goreng goes viral and ChocRocks Bar Red Velvet delights

veryone loves ice cream. This year, Indofood paired ice cream with another beloved food – its Indomie Goreng noodle.

The daring collaboration was created to target teenagers and the Gen Z group seeking fun new experiences. It has become a zany success and social media hit that has boosted brand awareness in the Indonesian market and beyond.

mainly enthusiastic and widely humorous. Priced at around US65 cents, the ice cream crossover has become a social media sensation for millions. THE LOOK OF LOVE Indofood ice cream promises to capture the essence of love in its new ChocRocks Bar Red Velvet. Aimed at all generations, the bar is a creamy marriage of the rich luxury of red velvet cake, enveloped in a delectable chocolate coating and topped with a crunchy texture of chocolate ‘rocks’. At an attractive price of around US30 cents, it is on track to win hearts as a new favorite for ice cream lovers in Indonesia. <<

The collaboration of ChocRocks Cone X Indomie Goreng was teased for the first time by Indofood Director Axton Salim on his Instagram account. Some netizens thought that the news was a prank, but it quickly became viral through social media. Consumers were driven to find and experience the product, especially as it is billed as a limited edition. Response to the combination of savory and sweet with its sprinkling of instant noodles on top, was

CRISPY CUISINE IS A WINNER

Indofood has delighted Indonesian consumers with the introduction of a new seasoned flour mix, Racik Tepung Bumbu.

he flour mix has been proven to ensure an optimal crispiness of fried food for up to five hours. For its target market – the busy mother of the household - this is a truly unique selling point. Consumer response has been overwhelmingly positive, with glowing testimonials citing the product’s convenience and quality. Racik Tepung Bumbu is a preservative-free composition, reflecting Indofood’s commitment to natural goodness. It is crafted from several types of flour and a range of spices. The superior quality also comes at affordable price points at less than half a US dollar for the large pack.

14 THE VIEW

SEASONING FOR EVERY DISH The seasoned flour mix offers a handy range of flavor variants. From the versatile Serbaguna, complementing ingredients like tempeh, tofu, shrimp, squid, and fish to the Ayam Krispi variant, elevating the flavor of chicken to savory crispiness, to the Bakwan variant, perfect for a variety of fritters from vegetable to corn and shrimp. Riding on the success of Indofood’s established Racik Recipe Mix, the new Racik Tepung Bumbu has strong potential for rapid growth. Its launch through Indofood’s vast distribution network has been supported by finely-tuned marketing. <<

NEWS

SMEs, contributing to around 19.9% of total loans. Digitalization presents huge opportunities for Indonesia, with 203 million internet users, 196 million cellullar internet users, and 94% of the population with broadband access.

Axton Salim addressing economic challenges and opportunities in the digital era.

ASEAN Business: transformation through technology Indofood is proud to regularly participate in the ASEAN Business and Investment Summit (“ABIS”).

he company was part of the 2023 Summit, held in Jakarta on 4 September this year. ABIS was officially opened by the President of the Republic of Indonesia and ASEAN Chair for 2023 Joko Widodo and attended by ASEAN Leaders, Leaders of Dialogue Partners of ASEAN, ASEAN Foreign Ministers, industry leaders, policymakers and other invited guests. DIVERSIFICATION, INCLUSIVITY, ACCESS Director of Indofood Axton Salim featured as a speaker in one of the panel discussions with the theme “Envisioning ASEAN’s Economic Future: Trends, Transformations, and Triumphs”. The distinguished panel of industry leaders and policy makers explored the complex

“

and rapidly-changing ASEAN environment. During the plenary session, Axton Salim highlighted the main challenges faced by prospective entrepreneurs. He emphasized the changes in demographics in Asia and the opportunities that spring from diversification, including an inclusive economy, SME growth, and increased internet access. Salim outlined that only 52% of Indonesia’s population has access to financial accounts, compared to the global average of 74%. He also discussed the rapid growth of the SME sector, with 64.6 million businesses and 110 million entrepreneurs and workers in the country. SMEs contribute as much as 37% towards Indonesia’s GDP, equivalent to US$2.5 billion. Moreover, the panel discussion raised the importance of funding for

PARTNERING IN THE FACE OF CHALLENGES The ABIS brought together more than 2,000 world leaders, CEOs and senior executives representing multinational and regional corporations from 50 countries. ABIS 2023 sets out to highlight the significance and business potential of the ASEAN bloc, amidst global trade fragmentation, political conflict and economic tensions. The event is a much-needed platform for ASEAN countries and their global partners to face these challenges. ASEAN countries and businesses can work together by sharing best practices on financial and technological inclusivity, partnerships, policies and innovations. ABIS promotes the platform for privatesector voices to influence policy and promote ASEAN as an interconnected hub of trade and industry. SPOTLIGHT ON INDOFOOD PROGRAMS AND BRANDS In addition to participating in the panel discussion, Indofood showcased and introduced its programs and flagship brands and products to ASEAN delegates at the Indofood booth at the summit. This participation reflects the commitment that Indofood has in contributing to the development of the economy and promoting innovation and inclusivity in ASEAN’s business landscape. <<

WE BELIEVE THAT THE AMPLIFICATION OF PRIVATE SECTOR VOICES IS VITAL TO DRIVE POLICY REFORMS AND POSITION ASEAN AT THE EPICENTER OF GLOBAL ECONOMIC INTERCONNECTEDNESS. ASEAN Business Advisory Council (ASEAN-BAC)

”

Indofood showcasing its programs and flagship brands and products at ABIS 2023. THE VIEW 15

NEWS

Seeing green, seeing transformation T

he Philippines has reached a transformative point for its mining industry.

A supportive mandate from the Ferdinand Marcos Jr. Government, progressive thinking and governance from leading businesses such as Philex Mining Corporation (“Philex”) green technology and a vast global demand for minerals for cellphones, e-vehicles and tech products, will shape the future of mining.

the industry, spread the benefits of mining into the countryside, and incentivize the processing of ores into higher value-added export products. President Marcos and his economic managers have unequivocally identified mining done sustainably and responsibly.”

A VISION FOR THE INDUSTRY Philex Chairman Manual V Pangilinan has a clear vision, which he shared at September’s Mining Philippines Conference 2023, Seeing Green, which was hosted by the Chamber of Mines of the Philippines.

Pangilinan addressed the key issues and suggestions for government and the private sector to improve health and safety, environmental oversight and management, training and procurement and the equitable sharing of benefits. He said that mining allows green technology to flourish on top of economic benefits such as the generation of revenues and jobs to uplift the lives and promote the welfare of the people, particularly in far-flung areas.

“We in Philex are optimistic because the Marcos administration has been clear, predictable, and transparent with respect to mining. We applaud the President’s desire to expand

“I would then argue that in many respects, sustainability rests on green technology and, by extension, reliance on mining would continue,” he said. “Beyond minerals, mining

ESTIMATES AND KEY TIMELINE OF BOYONGAN DEPOSIT

 Mineable reserves of 81 million tonnes  Copper grade of 0.67%, estimated recoverable of 993 million pounds

 Gold grade of 1.13 grams per tonne, estimated recoverable of 2.8 million ounces

 Commerced portal decline development 15 April 2023  Targeted commercial operations 1Q2025

16 THE VIEW

means jobs and incomes for our people, especially since mines are typically located in rural areas, where poverty exists and jobs are scarce.” PHILEX’S SILANGAN PROJECT IN DEVELOPMENT The Silangan Project is a large-scale gold and copper mining project located in Surigao del Norte, at the north-eastern tip of Mindanao in the Philippines. According to the In-Phase Mine Plan feasibility study for the Boyongan deposit (Phase 1 of the Silangan Project) completed in January 2022, the mine life and operation for the Boyongan deposit is 28 years. An initial daily estimated ore production capacity is 2,000 tonnes and climbing to 12,000 tonnes by the twelfth year of operation. The capital expenditure requirement under the In-Phase Mine Plan is US$224 million. Philex completed a Stock Rights Offering (“SRO”) on 3 August 2022 and raised 2.65 billion (US$47.6 million). The net proceeds of the SRO were allocated to fund the development of Phase 1 of the project. The project achieved another milestone at the end of November 2023, Silangan Mindanao Mining Company, Inc. (“SMMCI”) signed a US$100 million debt facility for the ongoing development of the Silangan Project. Development works continue at Silangan and the project footprint area has been secured. The ongoing

AWARDS

PLDT RECOGNIZED IN TIME MAGAZINE’S WORLD’S BEST COMPANIES 2023 The sole Philippines telco on the list

LDT has proven itself to be a company that leads in telecommunications while delivering value to its customers, shareholders, employees, business partners – and the planet.

tunneling works have breached about 35% of the distance towards the ore body. The clearing works and access road to the tailings storage facility (“TSF”) area are nearing completion. Management is also set to award the general contract works for the TSF as well as the process plant. BENEFITS TO PEOPLE AND THE LAND The Silangan Project is developed to Philex’s award-winning environmental and sustainability standards and practices. In 2023, SMMCI allocated 5 million as an advance for the Social Development and Management Program to provide:

 Development of Host and Neighboring Communities – education, healthcare, roads, water and cultural support  Information Education and Communication – stakeholder engagement, partnerships and community activities  Development of Mining Technology and Geosciences – formulate the Barangay Development Plan for the five host barangays within Placer. The plan serves as a guide for the Social Development Management Program  Land Management and Productivity – agricultural production, collaboration with farmers, industry authority, local organizations, technology and seedling providers. <<

The company was honored to be named in TIME Magazine’s list of World’s Best Companies 2023. PLDT is the only Philippine telco on the list and is ranked highest among the six cited Philippine companies in terms of Sustainability, with KPIs being considered were:  Carbon emissions intensity and reduction rate  Carbon Disclosure Project (“CDP”) rating  Board gender diversity  Adherence to Global Reporting Initiative guidelines

be the only Philippine telco on the list. This recognition affirms our strategic direction and inspires us to continue doing business responsibly, elevating customer experience, achieving operational excellence and new areas of growth and making our company the best place to work.”

Released by TIME Magazine and its analytics partner Statista in September 2023, the inaugural list names 750 of the most outstanding companies from different industries around the world. They were independently evaluated based on revenue growth, employee satisfaction surveys, and rigorous ESG performance metrics.

SUSTAINABILITY AT THE HEART OF BUSINESS Panlilio has identified sustainability as one of the key pillars underpinning PLDT’s strategy. The company includes sustainability in its CEO scorecard and has formulated ESG-focused key performance indicators. Its 2022 Sustainability Report has aligned with the Global Reporting Initiative framework. The company is also a Registered Participant to the United Nations Global Compact. PLDT follows a decarbonization roadmap that targets a 40% reduction of Scope 1 and Scope 2 greenhouse gas emissions by 2030, coming from a 2019 baseline. It benchmarks with the international CDP for climate reporting and is a pioneering supporter of the Task Force for Climate-related Financial Disclosures in the Philippines.

PLDT and Smart President and CEO Alfredo S Panlilio said, “It is a great honor for PLDT to be named one of the world’s best companies, and to

PLDT upholds a board diversity policy. It also embarked on an organizational transformation, designed to maximize the potential of its employees. <<

REVENUE AND BRAND VALUE In July 2023, Brand Finance, an independent London-based business valuation and consulting firm, in its 2023 study named PLDT as the most valuable brand in the Philippines with brand value of US$2.6 billion, citing PLDT for its consistent efforts for improving services and supporting the nation to become a financial and technology hub. PLDT was also cited to have the highest Sustainability Perceptions Value among all listed brands - at US$222 million. <<

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AWARDS

First Pacific Group companies win governance gold awards

n October 2023, PLDT was awarded a 3-Golden Arrow Award at the ASEAN Corporate Governance Scorecard (“ACGS”) Recognition Ceremony organized by the Institute of Corporate Directors (“ICD”). ACGS assesses and ranks publicly-listed companies in six participating ASEAN countries – Philippines, Indonesia, Malaysia, Singapore, Thailand and Viernam. PLDT’s commitment to exemplary corporate governance practices was once again recognized as a model among publicly-listed companies in the Philippines, based on the 2022 ACGS. Companies are scored in the areas of stakeholder engagement, transparency and accountability, and board accountability.

Other Group companies that were similarly recognized with 3-Golden Arrow Awards were MPIC, Meralco and Philex, while PXP Energy Corporation received a 2-Golden Arrow Award. The ICD is the leading institution in corporate governance in the Philippines. It is a non-profit organization dedicated to the professionalization of Philippine corporate directorship and raising the level of the country’s corporate governance policy and practice to world-class standards. <<

UPHOLDING THE HIGHEST STANDARDS “From the Company’s board, the top management, and PLDT’s hardworking employees, we thank the ICD and the ASEAN business community for this recognition. Our dedication to upholding the highest standards of corporate governance remains unchanged as we foster a culture of transparency, accountability, and ethical leadership throughout the PLDT Group,” said PLDT Chief Legal Counsel and From left: PLDT’s Executive Director and SVP/Chief Legal Corporate Secretary Atty. Counsel and Corporate Secretary, Atty. Marilyn A Victorio-Aquino Marilyn A Victorio-Aquino. with SVP/Internal Audit Head, Luis Reňon and VP/Corporate

Governance Head, Atty. Ma. Magdalene A Tan.

PLDT BOOSTS NATIONAL DQL

FASTER SERVICE, BEST NETWORK PLDT recently achieved a five-peat win as fastest internet service provider in the country from global enchmarking company Ookla. Smart has also been cited by Ookla as the Philippines’ Fastest and Best Mobile Network - the first and only Philippine mobile operator to earn the prestigious citation for three consecutive reporting periods. Since 2019, Smart has also consistently received the Best in Test citation from independent benchmarking organization umlaut.

“We continue to optimize and fortify our network as we strive to keep families connected, enable businesses of all sizes, power the government’s e-governance initiatives, and ultimately narrow the digital divide,” said PLDT and Smart Network Head Eric Santiago.

PLDT is one of the founding members of the government-mandated Presidential Private Sector Advisory Council under the Digital Infrastructure Pillar, represented by its President and CEO Alfredo S Panlilio. PLDT Group strives to help the Philippines achieve the United Nations Sustainable Development Goals (“UNSDG”), particularly Goal # 9 – Industry, Innovation, and Infrastructure. <<

PLDT and Smart continue to boost the Philippines’ digitalization rankings by delivering better connectivity and helping develop the country’s digital infrastructure. he latest Digital Quality of Life (“DQL”) Index 2023, released in September, showed that the Philippines recorded improvements. Currently, the Philippines ranks 21st in terms of Internet Quality, up from 45th in 2022, while in terms of Electronic Infrastructure, the country ranks 54th, up from 65th the previous year.

18 THE VIEW

AWARDS

PLDT Global wins Most Innovative award for healthcare gateway

LDT Global’s TINBO won the Most Innovative Health App for Overseas Filipino Workers (“OFWs”) awarded in October by Gawad Galing Global Award of Excellence in Nursing. TINBO is the one-stop gateway that provides

them take better care of their families back home.”

Filipinos access to digital services while overseas, recognized for promoting health and wellness, and bringing quality healthcare services to families back home. Organized by Toprank Review Academy, Gawad Galing is a global award of excellence given to professionals who have demonstrated excellence in healthcare. HEALTH, WELLBEING AND FAMILY CARE VIA ONE APP President and CEO at PLDT Global Albert V Villa-Real said, “We understand the plight of our OFWs and we hope that by bringing the digital services that we offer under TINBO closer to them, we can help

mWell CEO and President and MPIC Chief Finance, Risk, and Sustainability Officer Chaye Cabal-Revilla added, “As the only healthcare app available globally, mWell allows our kababayans (compatriots) to conveniently consult online with Pinoy doctors who speak their language and can provide the medical advice that they need right away. Filipino migrant workers can also share the gift of health to their families back home through affordable health passes which they may send as a gift.” In 2022, TINBO partnered with mWell, the Philippines’ healthcare mega app, to deliver affordable telemedicine subscription plans with free accident insurance tailored for families of OFWs. In addition to consultation health passes, select prescription medicines and vitamins, TINBO has also enabled Filipinos overseas to send school supplies via the Eskwela Padala option or treat their loved ones to meals via Food Padala. <<

PHILEX REAPS GOVERNMENT NATURAL RESOURCES AWARD Philex was awarded the Gawad Kalikasan (Nature Award) by the Department of the Environment and Natural Resources – Cordillera Administrative Region, during the Environment Month Culminating Activity on 30 June 2023. Paquito V Tobias, Environmental Compliance Chief receives the award on behalf of the Mine Protection and Enhancement Office of Philex.

hilex, through its Mine Environment Protection and Enhancement Office, was recognized for its contributions to environmental awareness and actions. Philex is committed to managing and rehabilitating its environments, particularly in areas affected by their mining operations. The company is one of the adopters of the Bamboo Propagation and Plantation Establishment Technology program of the Watershed and Water Resources Research and Development Extension Center. This scheme supports the government’s initiative of promoting the propagation and rehabilitation of bamboo. <<

THE VIEW 19

AWARDS

INDOFOOD TAKES TOP BRAND AWARDS IN INDONESIA

ndofood’s Indomie won two top awards in the Kantar Indonesia Brand Footprint 2023, in July 2023. Indomie was awarded the “Most Chosen Brands in FMCG” and the “Most Chosen Brand in Instant Food.” Brands Chitato and Chiki were also crowned as “rising star brands”, succeeding in making the top 100 FMCG brands in Indonesia. Market research company Kantar Indonesia compiled the Brand Footprint Indonesia report by analyzing more than 550 brands in the key FMCG sectors, covering 97% of Indonesian households - household population as large as 70 million. Kantar uses the Consumer Reach Point method which combines the penetration rate and purchase frequencies to pinpoint how often a product is selected by consumers. Despite the pressure of inflation that affects household expenditures and product selection, Indofood has shown how to succeed by growing and improving their customer base and by responding to changes in consumer behavior. <<

Indofood acclaimed with ‘Longlife Achievement’ Halal Award

ndofood was lauded for its longstanding dedication to halal food production on 4 September 2023. It was awarded the “Longlife Achievement” in the processed food category by the Assessment Institute for Food, Drugs, and Cosmetics of Indonesian Council of Ulama (“LPPOM MUI”). As a token of appreciation for halal-certified business owners, the LPPOM MUI held the Halal Awards 2023 at the Bogor Institute of Agriculture Convention Center. The award was given by President Director of LPPOM MUI Ir. Muti Arintawati, M.Si, to Head of Indofood Halal Secretariat Agus Suprapta. The achievement reflects Indofood’s dedication in ensuring that all of its products meet the strictest halal standards and the company’s consistency in implementing the Halal Assurance System. LPPOM MUI is the first Halal Inspection Agency in Indonesia, working at the forefront in ensuring halal standards for products. For more than 34 years, LPPOM MUI has established partnerships with businesses in more than 65 countries in the world to ensure product halalness. <<

Indofood awarded for sustainable environment-focused production

ts sustainable production practices in the Sustainable Environmental Awards in the Pharmaceutical and Food Industry from the Indonesia National Drug and Food Control (“BPOM”). It gained a prestigious award during the Forum Dialogue Towards Sustainable Corporate Governance: BPOM Supports Sustainable Production and Consumption of Pharmaceuticals and Food for Indonesia’s Progress, held on 17 July 2023. The award was handed by Head of BPOM Penny K Lukito to Director of Indofood Taufik Wiraatmadja. 20 THE VIEW

Indofood General Manager Corporate greenhouse gas emissions. The company Communications Stefanus Indrayana, has optimized water usage with seawater who also participated in the forum, reverse osmosis technology to decrease expressed appreciation for BPOM groundwater consumption and to mitigate support of the industrial sector in water scarcity. implementing sustainable production and consumption. He highlighted As a testament to its sustainable several Indofood practices to drive business practice, Indofood implements efforts in climate change adaptation Environmental Management Systems, and mitigation, through the use of Green Industry, Indonesia’s Sustainable renewable energy with around 67% Palm Oil (ISPO), and biodiversity of their energy sources coming from conservation. In tackling the issue of biomass and solar energy. Furthermore, waste and pollution, Indofood has Indofood implemented the ISO 50001 adopted efficient waste management Energy Management System to optimize practices, focusing on the principles of energy efficiency measures in reducing reduce, reuse, and recycle. <<

AWARDS

CCLEX LAUDED AS OUTSTANDING PROJECT OF THE YEAR

he International Federation of Consulting Engineers (“FIDIC”), awarded the 8.9-kilometer Cebu-Cordova Link Expressway (“CCLEX”) as an Outstanding Project of the Year (Medium to Large). The FIDIC Project Awards puts the spotlight on the achievements of consulting engineering member firms and their clients across the globe. It underscores the significant impact and influence their infrastructures have on social, economic, and environmental quality of life. For the construction of CCLEX, Cebu Cordova Link Expressway Corporation (“CCLEC”) awarded the design and build contract to Cebu Link Joint Venture, a consortium of Spanish company Acciona Construccion S.A., and Filipino companies First Balfour, and D.M. Consunji Inc. Accepting the FIDIC Project Award in Singapore this September were CCLEC President and General Manager Allan G Alfon, CCLEC Vice President and Project Manager Engr. Herbert C Laboy. CCLEX is aligned with MPIC’s support of the UNSDGs – Goal # 9 Industry, innovation, infrastructure; and Goal # 11 Sustainable cities and communities. <<

Young scholars honored with transformative support program

etro Pacific Investments Foundation, Inc. (“MPIF”) and its partner program Gabay Guro jointly hosted an event this August, where they proudly presented their honored scholars to MPIF Chairman Manuel V Pangilinan. The “Alay sa Batang Rizal” program invests in the potential of young scholars by offering them the opportunity to access quality education. Since its launch in February, the program provides financial allowance to 50 scholars and will continue to support them as they enter college for the upcoming school year 2023-2024. Pangilinan believes that with proper guidance and support, anyone can have the power to change their lives and rise above any crisis or setback. During the event, he shared a personal story of his Lolo (Grandfather) Benito, a dedicated schoolteacher committed to shaping the minds of young learners. He recounted how his Grandfather laid the foundation for educational advocacy. Melody del Rosario, President of MPIF expressed that MPIF, together with Gabay Guro will commit to mentoring the students and embarking on future outreach programs to ensure the scholars’ holistic development and growth. The programs underpin the MPIC group’s striving for the UNSDGs – Livelihood, Youth and leadership, Environment, Community work, Health and sports, and Education. <<

MPIC WINS IN NATURE AND BIODIVERSITY LEADERSHIP

PIC was recognized this October in the Finance for the Future Awards 2023 as the winner under the Nature and Biodiversity Leadership category. MPIC Chief Finance, Risk, and Sustainability Officer Chaye A Cabal-Revilla said, “At MPIC, sustainability is integral in our overall stakeholder value creation, along with our purpose for improving the lives of the Filipinos and communities we serve. This recognition will inspire and push us all, not just to continue what we are doing, but to do much, much more.” Run by ICAEW, Accounting for Sustainability (A4S) and Deloitte, the Finance for the Future Awards recognize businesses, organizations and people that have demonstrated leadership to encourage sustainable practices. <<

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ENVIRONMENTAL, SOCIAL & GOVERNANCE

The GCOT promises a cleaner, safer, and more resilient digital ecosystem. It pools peers and industry stakeholders in a closed loop that allows them to create and share a whitelist of legitimate domains, and consequently, blacklist those that contain content that are harmful to children.

IJM Forum: PLDT/Smart are the telco partners, CISO Angel Redoble is on the panel.

Digital solutions and shields for the protection of children PLDT, Smart testing groundbreaking cybersecurity tool to curb spread of online child abuse

“I

JM’s Scale of Harm provides alarming insights into the magnitude of child sexual exploitation in the Philippines, especially the prevalence of livestreaming, on demand child sexual exploitation and child sex traffickers exploiting victims to produce child sexual abuse imagery…” The National Center for Missing & Exploited Children, Senior Vice President, Exploited Children Division & International Engagement, John Shehan, said. PLDT and Smart have been developing innovative and collaborative approaches to the heartbreaking problem of online sexual abuse and exploitation of children (“OSAEC”). These approaches support the recommendations of

the 2023 Scale of Harm study by the International Justice Mission (“IJM”) and the University of Nottingham Rights Lab. The study reported that nearly half a million Filipino children – roughly 1 in 100 children – were sexually exploited in new abuse images and videos in the country in 2022 alone. The abuse is largely driven by foreign demand from the United States, United Kingdom, Australia, Canada and Europe. BREAKING THE CHAIN OF ABUSE PLDT and Smart are testing a cooperative cybersecurity project called the Global Chain of Trust (“GCOT)”, which aims to provide members and their stakeholders a ‘clean’ digital environment and block from the network domains that store and publish child abuse material.

“It is crystal clear that digital spaces and internet-connected, camera-enabled devices pose growing opportunities for offenders to sexually abuse children with ease, anonymity and impunity. What we’ve seen through Scale of Harm is the sickening scale of abuse. Child protection urgently demands increased tech sector detection, reporting, a duty of care, safety by design, transparency and accountability, along with improved law enforcement responses – in both demand and supply-side countries.” IJM Executive Director, Center to End Online Sexual Exploitation of Children, John Tanagho. 22 THE VIEW

PLDT Group Chief Information Security Officer Angel Redoble explained, “Tests have shown that we can alienate from the network websites that store, publish and stream child sexual exploitation materials or CSEM. Because the project is scalable, the more countries we bring into GCOT, the safer it will be for internet users. GCOT members enroll locally verified and trusted domains that will be accessible to fellow members. Currently, ISPs blindly ingest domain registries including those with malicious files.” OVER A BILLION BLOCKED ATTEMPTS In support of the Republic Act 11930 or the Anti-OSAEC Law, the PLDT Group continues to block access to CSEM through its pioneering Child Protection Platform. The Group had prevented more than a billion attempts to open CSEM and blacklisted more than 750,000 illicit child content in 2022. Enabling community-based reporting, the Group, through its B2B arm PLDT Enterprise, has also helped the Council for the Welfare of Children set up the MAKABATA 1383 Helpline for the reporting of child abuse and child rights violations. PLDT and Smart have also collaborated with the local government units of Angeles City in Pampanga, General Santos City, Cagayan de Oro City, and Iligan City on efforts to develop local ordinances and expand grassroots programs on antiOSAEC measures. The initiatives to keep children safe online underscore PLDT and Smart’s commitment to UNSDG Goal #16 to promote just, peaceful and inclusive societies including the end to abuse, exploitation, trafficking and all forms of violence against and torture of children and Goal #9 on Industries, Innovation and Infrastructure. <<

ENVIRONMENTAL, SOCIAL & GOVERNANCE

Be Kind. Recycle. PLDT, Smart pilot recycling program to champion circularity

PLDT and Smart President and CEO Alfredo Panlilio drops his old phone for recycling.

he PLDT Group, including PLDT, Smart, e-PLDT and PLDT Global, is doubling down on its efforts to manage e-waste. The 2022 United Nations’ Global E-Waste Monitor Report cited the Philippines as among the top e-waste generators in Southeast Asia. It’s well recognized that poor e-waste disposal practices impact people’s health and inflict long-term damage on the environment. During the celebration of PLDT Group’s Environmental, Health and Safety Week in July this year, it launched an enhanced recycling and waste management program for

PLDT Sustainability Executive Rhea Dienzo turns over unwanted electronic devices surrendered by employees.

employees called ‘Be Kind. Recycle.’ in support of a circular economy. During a weeklong e-waste collection drive in the PLDT and Smart headquarters, employees were encouraged to donate old electronic devices and appliances like mobile phones, landline phones, routers, laptops, chargers, and others. Resulting with employees turned over more than 5,500 units of household e-waste. As part of its program, the PLDT Group also held an organizational learning session with the United Nations Industrial Development Organization (“UNIDO”) about e-waste and its long-lasting hazards to communities. UNIDO also shared tips with employees on how to properly handle and recycle e-waste materials. The Group has tapped integrated waste management solutions provider Basic Environmental Systems and Technologies (“BEST”) to encourage employees to properly segregate household trash. Recyclables can be traded for environmental points under the BEST trash-to-cashback program, which may be used to redeem groceries, pay utility bills, swap for gift cards, and other products and services.

Melissa Vergel de Dios, PLDT and Smart Chief Sustainability Officer; PLDT Head of Environment, Health and Safety Division Kristine Gonzalez-Catague; PLDT and Smart President and CEO Alfredo Panlilio.

PLDT/Smart co-chairs Planet Pillar of the United Nations local chapter Global Compact Network Philippines (“GCNP”) which focuses on plastic waste. Group efforts in responsible waste management support PLDT and Smart’s commitment to the UNSDGs, particularly Goal #3: Good Health and Well-being, Goal #11: Sustainable Cities and Communities, and Goal #12: Responsible Consumption and Production. <<

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ENVIRONMENTAL, SOCIAL & GOVERNANCE

#ConnectedWithNature PLDT AND SMART STRENGTHEN PARTNERSHIPS FOR NATURE-BASED CLIMATE SOLUTIONS In support of efforts to mitigate climate change and achieve carbon neutrality, PLDT and Smart are strengthening partnerships for peatland conservation and carbon measurement of nature-based climate solutions in the Philippines. The 5,400-hectare Caimpugan Peatland in the Agusan Marsh Wildlife Sanctuary (“AMWS”), Agusan del Sur, is recognized as the Philippines’ largest known intact peat swamp forest and is estimated to store approximately 23 million tons of carbon*. Its capability to store such a significant amount of carbon makes the peatland among the country’s most critical resources in the fight against climate change.

A CREDIBLE CARBON REGISTRY PLDT and Smart are also collaborating with the National University of Singapore – Center of Naturebased Climate Solutions on the re-measurement of carbon content of the Caimpugan Peatland. They will be leveraging various technology-driven innovations to map out peat extent and render measurements aimed at informing local conservation efforts and establishing a credible carbon registry for the AMWS peatland. Such research collaboration will also help unlock economic opportunities for the Philippines and for Southeast Asia to participate in the emerging global market for carbon projects. << *1 million tons is roughly equal to the average annual emissions of 35 commercial airliners, 216 passenger vehicles, and 115,000 homes in the United States (Source: Columbia Climate School, 2021)

PLDT and Smart are thus carrying on with their landmark partnership with the Department of Environment and Natural Resources to protect, conserve, and optimize the carbon sequestration potential of the peatland in the AMWS. The PLDT Group is also in discussions with the local government of San Francisco, Agusan del Sur, to explore opportunities for eco-tourism and the use of digital technology to revitalize livelihood of communities surrounding the peatland.

Entrance to the AMWS Peatlands, where the planned boardwalk will be built.

PLDT team met with the DENR with representatives from various units involved in the conservation program.

ENVIRONMENTAL, SOCIAL & GOVERNANCE

propagules in vital watersheds over a land area of approximately 525 hectares for its 2023 Plant for Life program. This will be a 133% increase on last year’s target of 90,000 trees. “One climate change mitigation measure that will have a long-term and major impact on protecting our water sources is the planting of trees. It not only enhances carbon sequestration; it also increases the soil’s water-retention capacity, thus preventing erosion in watersheds that could lead to high turbidity in the raw water supply,” said Maynilad’s Quality, Sustainability and Resiliency Head, Atty. Roel S Espiritu.

Maynilad Chief Operating Officer Randolph T Estrellado leads other volunteers in planting a tree at the La Mesa Nature Reserve, Quezon City, during the kick-off ceremony of this year’s Plant for Life program.

Forests and watersheds

PLDT, Smart partner with Maynilad on reforestation and water stewardship.

LDT and Smart are committed to fight climate change and promote water security. The group has teamed up with water solutions company Maynilad Water Services, Inc. (“Maynilad”) on several reforestation and water stewardship programs. PLDT and Smart supported Maynilad in its annual tree planting initiative, Plant for Life, in the La Mesa Watershed, a nature reserve in Quezon City, Metro Manila. This is a multi-site reforestation program that aims to recover denuded forests within critical watersheds that surround Metro Manila. The PLDTSmart Foundation (“PSF”), adopted a hectare of the reforestation site within Bulacan’s Ipo Dam area.

“Recognition of the importance of sustainability is shared within the MVP group of companies. At PLDT and Smart, we appreciate the significance of our forests and nature-based solutions in helping us mitigate and adapt to the worsening impacts of climate change. It is thus in our best interest to pursue synergies with like-minded organizations, such as Maynilad, to amplify efforts to take care of our environment and of our customer communities,” said PLDT First Vice President, Chief Sustainability Officer and Head of Investor Relations Melissa Vergel de Dios.

JOINING FORCES WITH MSMES As co-chair of the Planet Pillar of the United Nations Global Compact’s local chapter Global Compact Network Philippines, PLDT and Smart tapped Maynilad as one of the speakers during a learning session for MSMEs on responsible water stewardship. During the session, Atty. Roel S Espiritu highlighted the importance of engaging institutional partners and MSMEs for reforestation activities. “When we plant trees, we get to hit two birds with one stone. We create carbon sinks, and at the same time, foster and maintain good quality of water.” PLDT, Smart, and Maynilad’s efforts underscore the Group’s contribution to the United Nations Sustainable Development Goals, particularly Goal #6 on Clean Water and Sanitation and Goal #13 on Climate Action. << For more information on PLDT and Smart’s continuing support for nature-based climate solutions, visit

2023 TARGET OF 210,000 TREES Maynilad aims to plant around 210,000 native trees and mangrove THE VIEW 25

11/2023

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