Cacao farmer members of the Bagobo Klata Indigenous People (IP) group are poised to soon participate in the cacao value chain of the Davao Region following the establishment of a cacao agri-business project that will boost their productivity.
The Aboitiz Group, through its social development arm Aboitiz Foundation, signed a Memorandum of Agreement (MOA) with the Apo Farmers Multi-purpose Cooperative (AFAMULCO) in Barangay Wines, Baguio District, Davao City to educate the farmers on correct cacao farming methodologies and provide linkage to market and financing.
AFAMULCO farmer-members are mainly cacao and fruit farmers who earn by selling their fresh harvest to the local market. If successful, the project will enable them to earn more and reap additional production value by learning how to ferment, dry, and process cacao beans into tablea (chocolate tablets) and other products.
“Our dreams have come true. We are very thankful for this project. It has been our dream as farmers that we will no longer just sell wet cacao beans to traders. We want to process our own chocolates and to display our own products. This project will not only help our families but also the community, as many of us in our community have no work or are underemployed,” said AFAMULCO Chairman Lyndon Cayog.
This MOA was signed by Cayog and Maribeth L. Marasigan, Aboitiz Foundation First Vice President and Chief Operating Officer. Also present were AFAMULCO board members and representatives of Barangay Wines, the National Commission for Indigenous People and Aboitiz business units Davao Light and Apo Agua.
Uy heads Credit Suisse IBCM in Manila
Credit Suisse announces the appointment of Mark Uy as head of Philippine coverage in its Asia Pacific Investment Banking and Capital Markets (IBCM) department.
Based in Manila, Uy will be responsible for driving the growth of Credit Suisse’s IBCM business in the Philippines. This includes broadening the bank’s relationships with entrepreneurs and corporate clients in the market as well as delivering the full range of Credit Suisse’s integrated investment banking and wealth management offering, in line with its ambition to be the Bank for Entrepreneurs in Asia Pacific.
He will report to Rehan Anwer and Pankaj Goel, Credit Suisse’s co-heads of IBCM, Southeast Asia and Frontier Markets.
Uy brings over 12 years of investment banking experience to Credit Suisse. Previously, he was an Executive Director with J.P. Morgan, holding various senior investment banking roles in their US, Philippines and Singapore offices. During his career, Mark established a track record in client coverage as well as origination and execution of M&A and capital markets transactions across equity, equity-linked and debt. He holds a Bachelor’s degree in Management Engineering from Ateneo de Manila University.
As a leading financial advisor in the Philippines since 1992, Credit Suisse has advised on numerous landmark and innovative transactions in the country over the years.
Most recently, Credit Suisse acted as joint bookrunner on the $285 million (post-greenshoe) listing of AllHome Corp., the largest Philippine IPO since 2016.
Meralco bans single-use plastic
Manila Electric Co. (Meralco or the Company) (PSE: MER) announced that to help save the country’s environment, it has banned single-use plastic (SUP), polystyrene foam and similar products from all of its premises, activities, and corporate events effective 1 October 2019.
In a statement, Meralco president and chief executive officer Atty. Ray Espinosa said, “The protection of the environment is a collective obligation that we not only owe to the communities we serve, but more importantly, the future generation. It is, therefore, incumbent upon us to ensure that we integrate sustainability in all areas of our operations and in our workplace to create a positive impact to the environment.”
The ban applies to the Meralco Industrial Engineering Services Corp. (Miescor) Group, CIS Bayad Center Inc. (Bayad Center) Group, Meralco Energy Inc. (Mserv), Radius Telecoms Inc. (Radius), MSpectrum Inc. (Spectrum), MRAIL Inc. (MRAIL), Meralco Powergen Corp. (MGen) Group, and eSakay Inc. (eSakay) as well as affiliated companies, Comstech Integration Alliance Inc. (Comstech), Clark Electric Distribution Corp. (CEDC) and Shin Clark Power Group effective 1 November 2019.
Meralco’s supply chain partners have also been told to ensure full compliance with the ban effective 1 January 2020.
Aside from reducing its contribution of plastic to landfills and marine pollution, Meralco also aims to educate employees and business partners on the responsible use of plastic for proper disposal for a sustainable economy, and help pave the way for a lifestyle change.
According to a report published by the United Nations Environment Program, the world’s ability to cope with plastic waste is already overwhelmed. Only 9 percent of the nine trillion kilos of plastic the world has ever produced has been recycled.
Most end up in landfills, dumps or in the environment. If current consumption patterns and waste management practices continue, then by 2050 there will be around 12 trillion kilos of plastic litter in landfills and the environment.
As the first of many sustainability initiatives, the use of SUP, including polystyrene foam and similar products, is banned from all offices, premises and facilities of Meralco, including operations centers, business centers, subsidiaries, affiliates, and in company events and activities effective 1 October 2019. SUPs covered by the ban include plastic grocery bags, beverage bottles, food service utensils (cutlery, plates, cups, lids, straws, stirrers) and dispensing containers for cleaning fluids.
“Everyone in Meralco is committed to do their part in ensuring that we embrace sustainability as a way of life by greatly reducing our contribution to the million tons of plastics waste that are used and dumped in our water ways, rivers and oceans every day,” Espinosa said.
Vivo V17 Pro comes with 6 cameras
Vivo on Wednesday unveiled the new V17 Pro smartphone in Taguig, Metro Manila. The V17 Pro houses a total 6 cameras on the front and back that allow users to shoot beyond their limits, including the industry’s first 32MP dual elevating front camera, a powerful upgrade to Vivo’s iconic elevating front camera. The V17 Pro also houses cutting-edge features such as the Super AMOLED Ultra FullView™ Display, professional grade 48MP AI Quad Camera, plus stunning makeover features created to compliment the lifestyle of today’s young and stylish consumers.
“The creation of V17 Pro once again showcases our strong consumer-centric innovation approach. The new V series member brings brilliant camera systems on both the front and back of the smartphone to empower consumers to shoot beyond their imagination,” said Charisma Buan, Vivo Philippines Public Relations Lead. “V17 Pro is a masterpiece that we are extremely proud of, as it reinforces our position as a pioneer in bringing best-in-class mobile experiences to the Philippines.”
Capturing perfect shots with the first 32MP Dual Elevating Front Camera and professional grade 48MP AI Quad Camera on the back.