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00:00.0
Today on the Business Roadshow, Asian shares rebound from Friday's sell-off as fears of a wider Middle East conflict embed.
00:12.0
The Philippines and Qatar inked nine bilateral deals during the visit of the Arab nation's emir.
00:20.1
Vice President Sara Duterte asserts her work will not be affected by her rift with First Lady Lisa Araneta Marcos.
00:27.6
And later we bring in to the show the group that launched the Fund Run to provide homes for those in need.
00:38.1
Join us as we bring you the latest in the financial world. I'm Stanley Palisada. Let's get this show on the road.
00:57.6
We take you straight to the financial markets. Regional equities rising following Friday's sell-off as fears of a wider Middle East conflict eases.
01:07.4
Iran bared Friday it has no plans to retaliate after an apparent Israeli drone attack on its border.
01:14.8
Tehran's foreign ministry has also played down the attack saying drones which Israel supposedly used in the attack were mini drones and that they had caused no damage or casualties.
01:27.2
Now globally...
01:27.6
Global oil prices are also on the downward trend thanks to easing tensions in the Middle East.
01:33.7
Let's now take a look at the market here in Asia. Most are trading higher with the Shanghai Composite bucking the trend.
01:39.8
It is down nearly four-tenths of a percent even after China left benchmark lending rates unchanged at a monthly fixing on Monday in line with market expectations.
01:51.1
South Korea's Kospi Index leading the Asian rally with a gain of 1.45 percent.
01:56.6
Let's take a look now at futures in Europe. They are pointing to a positive open mirroring gains in Asia.
02:05.2
Some invests or events could affect today's sentiment, Eurozone consumer confidence data and a speech from European Central Bank President Christine Lagarde.
02:15.6
State side now, futures are pointing to an open in the green after a steep sell-off last week.
02:21.8
This week though will be a data-heavy week with key inflation and GDP numbers.
02:26.6
As well as big tech earnings.
02:31.0
The International Monetary Fund warning America's U.S. fiscal deficit poses a major risk to the global economy.
02:39.4
It expects the U.S. fiscal deficit to reach 7.1 percent on its gross domestic product next year.
02:45.8
This compared to the average level of other developed economies which is around 2 percent.
02:51.0
Last December, the U.S. Treasury Department's report showed the federal government's debt,
02:56.6
exceeding 34 billion U.S. dollars.
03:00.5
The IMF said the U.S. fiscal situation is worrisome and complicates the Fed's response to high inflation.
03:10.4
China flexing its military might ahead of the joint exercises between Manila and Washington.
03:16.1
According to maritime security expert Ray Powell, two Chinese maritime militia ships and a Chinese Coast Guard vessel were seen loitering near Palawan on Sunday.
03:26.6
Powell says Beijing's action signals it is on high alert amid the military drills between Manila and its allies.
03:35.0
This year's annual Balikatan or shoulder-to-shoulder drills kicks off today.
03:39.8
It will involve naval exercises outside Manila's territorial waters in areas close to Taiwan which is also being claimed by Beijing.
03:48.6
At least 16,000 troops from the U.S., the Philippines and France will participate in the joint activities.
03:56.6
I sense that this is probably some kind of a demonstration, again a reminder to the Philippines that China will remain aggressive even though the Philippines is in the middle of its big exercise.
04:08.3
Maybe that China figures during Balikatan is the time to do this to make sure that the Philippines knows that once the Americans go home from their exercise that China will very much still be here.
04:23.6
The Philippines and Qatar sign nine banners.
04:26.6
Bilateral deals during the visit of the Arab nation's emir.
04:30.4
President Ferdinand Marcos Jr. met today with Sheikh Tamim bin Hamad Al Thani at the presidential palace in Manila.
04:37.3
The agreements include cooperation on business, tourism and climate change.
04:43.2
The two nations also agreed to boost efforts against human trafficking.
04:48.3
Marcos in his meeting with the emir hailed the enduring ties between Manila and Doha.
04:53.8
Qatar is home to over 240,000 Philippines.
04:56.6
Filipino workers who sent nearly $900 million worth of remittances in 2022.
05:05.4
With the Philippines and Qatar sharing 43 years of deep friendship and cooperation,
05:11.5
I am certain that our discussions today will translate to stronger collaboration in common fields of interest.
05:21.9
The Philippines moves to improve its crisis response by inking a deal with the Philippines.
05:26.6
World Bank. The country became the first
05:28.8
to sign a rapid response option agreement
05:30.9
with the World Bank Group.
05:32.7
The signing was a deal of
05:34.3
witness, in fact, by Finance Secretary
05:36.5
Ralph Recto this Saturday
05:38.5
on the sidelines of the
05:40.5
WBG and the International
05:42.5
Monetary Fund Spring Meetings in Washington,
05:44.9
D.C. Under the agreement,
05:46.9
Manila can now immediately liquidate
05:48.9
funds to address emergency
05:50.8
needs such as health care,
05:53.1
shelter, and food in
05:54.8
times of crisis.
05:56.6
The Philippines remains one of the most disaster-prone
05:59.1
nations in the world.
06:00.6
The agreement is part of the World Bank's program
06:02.8
aimed at empowering countries to deploy
06:04.9
resources from their existing
06:07.0
bank portfolio more effectively
06:08.6
to deliver a swift response
06:10.9
during a crisis.
06:14.8
Vice President and Education
06:16.9
Chief Sara Duterte breaking her
06:18.9
silence on her rift with First
06:20.9
Lady Lisa Araneta Marcos.
06:23.2
The First Lady earlier admitted
06:24.8
she had not been in good terms
06:26.8
with the Vice President after she
06:28.8
caught her laughing at the
06:30.8
claim of former President Rodrigo Duterte
06:33.1
that President Ferdinand Marcos
06:35.2
Jr. is a drug addict.
06:37.3
But Vice President Duterte
06:38.8
asserts personal feelings should
06:40.9
not hamper the work in the government.
06:45.5
Bilang tao,
06:47.2
karapatan ni unang ginang
06:49.2
Lisa Marcos na makaramdam
06:51.3
ng sama ng loob at galit.
06:54.1
Subalit,
06:54.8
ang kanyang personal na damdamin
06:56.8
ay walang kinalaman
06:58.2
sa aking mandato bilang isang
07:00.8
opisyal ng pamahalaan.
07:03.2
Upang makausad tayo,
07:05.0
iiwan na natin sa isang
07:06.8
pribadong pag-uusap sa pagitan
07:08.9
lamang namin ni Pangulong
07:10.9
Bongbong Marcos Jr.
07:12.6
ang mga susunod na hakbang.
07:14.6
Dapat ay nakatutok tayo sa pagtugon
07:16.7
sa mga suliraning hinaharap
07:18.4
ng ating bansa. Unahin natin
07:20.7
ang Pilipinas.
07:24.8
As for calls seeking for her accountability
07:27.0
amid her family's verbal attacks
07:28.8
against the president, Vice President Duterte
07:31.0
said she'd rather focus on issues
07:33.0
hounding the country.
07:36.7
Let's open the week in corporate stories.
07:39.1
BDO secure shareholders approval
07:41.1
for the lender's merger with SM Keppel Land.
07:44.1
The C family's banking arm
07:45.6
says it met the required
07:46.9
two-thirds vote among owners of its
07:48.9
outstanding capital stock
07:50.3
during its shareholders meeting last Friday.
07:53.6
BDO is the survivalist's
07:54.8
surviving entity of the merger
07:55.8
which is still subject to regulatory approvals.
07:59.2
The bank previously shelled out
08:00.5
over 8 billion pesos to buy out
08:02.7
SM Keppel Land shares
08:04.0
from Singapore's Keppel Group,
08:06.5
its partner operator in the
08:08.4
Podium Complex in Ortigas.
08:11.0
Meanwhile, Repower Energy
08:12.5
is awarded a government contract
08:14.1
to develop a hydropower facility
08:16.3
in Quezon Province.
08:18.2
Repower says the seawater pump
08:20.0
storage facility will have a capacity
08:22.5
of 320 megawatts
08:24.8
per hour and will be built
08:26.7
in Rial Town.
08:29.0
Finally, Atlas Mining books
08:30.8
over half a billion pesos in net income
08:32.8
in the first quarter.
08:34.3
This was higher by 113 percent
08:36.8
year on year.
08:38.4
Atlas says this was mainly due to higher revenue
08:40.7
and improved milling output
08:42.9
from operations of its unit,
08:44.8
Carmen Copper.
08:47.0
Gross revenues were at 5.5
08:49.0
billion pesos while EBITDA stood
08:50.8
at 2.1 billion.
08:54.8
More corporate stories.
08:56.7
The Securities and Exchange Commission
08:58.4
files a criminal complaint against
09:00.5
the MFT Group led by
09:02.5
CEO Maria Francesca Tan.
09:05.3
Foundry Ventures
09:06.2
and its officers and agents
09:08.1
over alleged unauthorized solicitations
09:10.9
of investments.
09:12.6
Based on complaints, the group had solicited
09:14.6
investments supposedly for
09:16.6
startup companies in exchange for a
09:18.5
guaranteed return, ranging from
09:20.7
12 to 18 percent per annum.
09:22.6
The group had also allegedly issued
09:24.8
post-dated checks that were never
09:26.7
paid. The filing of
09:28.7
criminal charges came after the SEC
09:30.9
issued a cease and desist order
09:32.8
in January, directing all
09:34.6
MFT Group executives to stop
09:36.8
their unregistered investment solicitation
09:38.9
activities.
09:41.6
To the Philippine
09:42.7
Benchmark Index now, the PSEI
09:44.8
closes the first trading day of the week
09:46.6
flat. It closed higher
09:48.6
at 64.44,
09:50.8
joining the regional upswing.
09:53.0
Value turnover was at 3.16%.
09:54.8
Billion pesos.
09:59.3
We have this just in.
10:01.9
Or before the
10:02.9
daily market analysis, a piece
10:04.8
of breaking news. 19 cars
10:06.9
at the parking area at Manila's
10:08.6
International Airport, Naiya, were consumed
10:10.8
by fire today. That's Monday.
10:13.2
It is not yet immediately clear
10:14.8
what caused the incident, but the
10:16.6
airport's operator, the MIAA,
10:18.9
says it occurred at the Gateway's
10:20.9
Terminal 3. We'll tell you more
10:22.9
details as soon as they
10:24.6
become available.
10:27.1
Joining us now for a take on
10:28.6
today's trading, we have Sandra
10:30.7
Araulio. She's the Chief Investment
10:32.6
Officer of ATR Asset
10:34.8
Management. Sandra, welcome to the Business
10:36.6
Roadshow.
10:40.2
Hello,
10:40.9
Sandy. Good afternoon. Hi, Sandra.
10:42.8
Now, we have postponed rate cuts
10:44.5
by the Fed and the Banco Central.
10:46.6
Of course, the worsening conflict in the Middle East
10:48.5
still weighing down on most markets,
10:50.7
including our own PSE, although we did
10:52.6
better today. Now, with share price, we're going to talk about the PSE.
10:53.2
Now, with share price, we're going to talk about the PSE.
10:53.6
Now, with share price, we're going to talk about the PSE.
10:53.6
Now, with share price, we're going to talk about the PSE.
10:53.7
Now, with share price, we're going to talk about the PSE.
10:53.7
Now, with share price is still finding a bottom,
10:56.0
are investors likely to stay away
10:58.1
for a while from these markets?
11:01.4
Yeah,
11:01.8
there has been
11:03.5
quick repricing of
11:05.8
rate cut expectations.
11:08.5
We've seen that in
11:09.9
actually a two-and-a-half-week
11:11.9
period.
11:14.1
Ourselves, for example,
11:15.8
we've been invested and we think that
11:18.2
the timing is
11:20.0
really going to be a driver
11:22.2
of volatility, and we
11:23.7
don't, it doesn't necessarily change
11:25.8
our own view in so
11:27.5
far as expectations
11:29.5
of easing rates. Again, it's really
11:31.9
a matter of pricing the
11:33.6
timing of such, and
11:35.8
of course,
11:37.6
there also happens to
11:39.8
be the consideration of
11:41.9
the risk that there is
11:43.8
that cuts don't
11:45.9
happen at all this year. So,
11:47.8
again, it's just the market trying to
11:50.5
determine
11:51.8
when the market's
11:53.7
inevitable is going to happen, and in the
11:55.7
meantime, you will see that reflected in market prices.
11:58.2
Okay, if you'd be optimistic about
11:59.8
this, actually, the situation,
12:01.7
I mean, you know, you have a situation
12:03.9
where investors who gained in the past
12:05.7
three months are just locking in profits
12:07.6
and, you know, prices are already
12:09.9
going down again to
12:11.7
attractive levels. Many analysts
12:13.7
we've spoken to are also seeing good bargains
12:15.8
at these price levels.
12:18.3
Now, is this a good time
12:19.8
to actually add to positions?
12:23.7
For those who are still uninvested, yes, we believe
12:25.7
so. Not just on the equity side,
12:27.9
but also on the bond side.
12:29.9
We were of the view
12:31.8
that rate cuts
12:33.7
are likely to happen
12:35.1
in the second half
12:37.7
of the year, or starting in June,
12:40.1
but there
12:41.7
happens to be new data
12:43.2
that pushed back
12:45.2
the possibility of the cuts.
12:47.4
So, it's giving us another
12:49.5
window of opportunity, or it's
12:51.7
giving those who still have
12:53.7
cash to deploy
12:54.6
that opportunity to
12:57.3
catch the market at
12:59.1
bargain prices, to catch
13:01.2
bond yields at the higher end
13:03.3
of the range. And so, definitely, we think
13:05.3
it's just giving the
13:07.4
chance to those who haven't
13:09.0
put their portfolios to work, a chance
13:11.5
to deploy. Alright, so
13:13.3
it's bonds as well, aside from cash.
13:15.5
Now, Sandra, are you seeing flights to
13:17.3
safe havens these days?
13:19.2
You mentioned bonds, gold prices are also
13:21.5
going up? Definitely.
13:23.7
Definitely, we've seen
13:25.5
a flight
13:27.6
to, or at least
13:29.8
risk of
13:31.3
assets.
13:34.0
Particularly, short-term
13:35.8
US treasuries. So,
13:37.6
very indicative of the
13:39.6
reactive nature.
13:41.3
So, it's the geopolitical
13:43.3
flare-up, or
13:44.8
the escalation of the
13:47.7
Middle East conflict that is
13:49.5
driving this reaction.
13:51.9
The
13:52.3
the
13:52.8
the
13:53.7
00:00.0
14:23.660 --> 14:53.660
00:00.0
14:53.660 --> 14:55.540
14:55.5
around
14:56.2
trend growth, at least, for the global economy,
15:00.3
coming down of
15:01.6
inflation, and
15:02.7
easer monetary policy.
15:05.5
Okay, and for those who want to stay
15:07.4
in riskier assets like stocks,
15:09.5
but have a very short-sighted view,
15:11.9
what is your horizon?
15:13.3
How does it look like? Do you think
15:15.2
prices will stay in consolidation patterns
15:17.4
even with positive
15:19.2
corporate earnings?
15:21.3
To balance off the negatives,
15:22.9
the other macro factors that
15:24.9
have been driving this market down?
15:28.7
Yeah, so we think that at least
15:30.9
for the second quarter, it's going to be
15:32.6
a range between 6,200
15:35.3
and 6,700.
15:37.0
Nothing too
15:38.9
exciting. But that said,
15:40.8
there are names in the
15:42.8
market that have been more
15:45.0
unfairly
15:46.9
priced in
15:48.4
a too bearish outlook, or
15:50.8
a too bearish scenario.
15:52.9
For rates, so
15:54.5
you have the likes of those rate-sensitive
15:56.7
names, Ali, for example.
15:59.5
So, broad market,
16:01.0
it is
16:02.8
a good time to still
16:04.6
time average and deploy
16:06.7
at least, you know, markets
16:09.0
at 10 times PE. So,
16:10.7
from a fundamental standpoint,
16:13.0
and as fundamental investors,
16:14.8
we like that, but we are cognizant
16:17.1
of the drivers
16:18.8
and the catalysts in the short term.
16:20.6
So, because we are fully
16:22.7
invested, and we are
16:24.8
we have other
16:26.9
vehicles as options.
16:28.8
We are already invested in the market.
16:31.0
Right now, we're a little bit more
16:32.7
balanced in terms of deploying
16:34.6
to fixed income and equities,
16:36.6
not necessarily favoring one over the
16:38.8
other, because we've also seen
16:40.6
a big price
16:42.8
adjustment on the fixed income side.
16:44.7
And just to manage the risk,
16:46.7
a more balanced approach to
16:48.5
exposure is what we're
16:50.5
positioned for. Okay, Sandra,
16:52.7
let's talk about pricing in the global conflict.
16:54.6
Last week, the possibility of Israel
16:56.4
retaliating against Iran, or Iran
16:58.5
retaliating against Israel, was stoking
17:00.4
fears in most markets.
17:02.5
But so far, Iran is saying it will not
17:04.7
or may not launch a
17:06.4
counterattack. How are you pricing in
17:08.6
the global conflict now? Is it better than
17:10.6
last week?
17:13.3
Yeah, I think it's
17:14.6
going to be tit for
17:16.7
tat in terms
17:18.8
of, you know,
17:21.2
balance,
17:22.7
back and forth,
17:23.7
and risk of
17:25.6
escalation, kind of
17:28.7
just have it in that
17:30.7
threat. And so, again,
17:32.6
on the short term, you have
17:33.9
flight to safety trade.
17:37.0
But that said,
17:39.0
we don't think
17:40.9
that the conflict
17:42.5
in the Middle East today
17:44.4
is
17:45.0
comparable to the
17:48.6
Ukraine-Russia
17:50.8
conflict that we,
17:52.7
really, affected oil
17:54.4
and other commodity prices,
17:56.9
wheat.
17:58.9
And so, the effect
18:00.5
from that standpoint,
18:02.6
we think, is managed.
18:05.5
Oil prices
18:06.9
are definitely
18:07.8
something that we're keeping an eye on.
18:11.5
Also, gold
18:13.1
prices. So,
18:14.8
we do know that
18:16.7
in regimes
18:18.7
where rates
18:20.8
are high, typically,
18:22.7
gold prices are
18:24.3
in the opposite direction. But lately, you've seen
18:26.9
a positive correlation, meaning
18:28.8
gold is also hitting all-time highs.
18:31.5
So, I think, we think that
18:32.7
reflects that, again,
18:35.5
flight to
18:36.3
safe assets
18:38.3
type of trade.
18:40.5
We're mindful that it's mostly
18:42.8
the central banks that hold gold.
18:45.1
So, you know, we're trying to
18:46.9
reconcile, maybe,
18:48.7
what they might know that we don't.
18:50.9
So, there are a lot of,
18:52.7
a lot of signals in the market, definitely,
18:55.2
that is
18:56.1
helping us
18:57.7
point our direction towards how to
19:00.8
manage through the conflict.
19:03.0
The hardest thing to manage
19:04.6
through, really, are these geopolitical
19:06.9
risks because they tend to
19:08.3
dislocate markets really
19:10.6
far away from fair value
19:12.9
or from
19:13.9
fundamental values. And so,
19:16.9
pricing that
19:17.8
risk, or that
19:20.9
geopolitical risk, really,
19:22.7
you need a lot of input
19:24.7
or try to get a handle
19:26.9
on what that pricing might be. And today,
19:29.6
relatively speaking,
19:31.3
because of the acute
19:32.5
nature of the escalation,
19:35.3
we do think that there is a
19:36.9
knee-jerk reaction
19:37.8
to try and
19:41.0
rush through the doors
19:43.1
might not prove
19:45.2
a prudent approach
19:47.3
to managing through the conflict
19:49.2
because what tends to happen is you get
19:51.0
whipsawed. You know, you,
19:52.7
you sell at the high, and you,
19:54.7
sorry, you sell,
19:56.5
you sell at the low.
19:59.1
And then, when the risk
20:00.5
dissipates, you're caught
20:02.8
open, or you're caught
20:04.9
without a position, and then you have to
20:06.8
buy high, and then that
20:08.8
volatility just whips you around.
20:11.6
Alright, alright, Sandra,
20:12.9
let's take a look at some of our top
20:14.7
stories today, starting with BDO
20:16.6
securing shareholders' approval for its
20:18.6
merger with
20:20.1
Kepel Land, SM Kepel.
20:22.1
So, what,
20:22.7
you make of this development? How substantial
20:24.4
is the deal in favor of the country's largest
20:26.5
lender?
20:28.7
So, we do think that
20:30.4
the merger is done for
20:32.6
tax improvement and capital
20:34.4
efficiency.
20:36.5
You know, the effect of the merger
20:38.6
to BDO will be to
20:40.3
issue new shares to itself.
20:43.0
And, you know, it's
20:44.7
going to create 16 billion
20:46.9
worth of treasury shares. So,
20:49.0
normally,
20:50.2
this would not be a problem,
20:52.7
resulting in treasury shares that could be
20:54.6
cancelled. However,
20:56.7
there is that consideration
20:58.8
of the Banking Sector
21:00.7
Act that does not allow banks to hold
21:02.6
treasury shares. So,
21:04.2
if a situation
21:05.6
results in treasury shares
21:08.1
like a merger, then the bank
21:10.3
must dispose of it within six
21:12.2
months. So, these are
21:14.1
considerations in the
21:16.4
deal, and
21:17.7
whether it's positive or negative,
21:20.4
it's quite fresh, and so
21:22.7
we're still digesting all of these
21:24.4
implications for BDO.
21:25.9
Alright, here's another one. Sector News,
21:28.2
Atlas Mining, booking half a billion pesos
21:30.3
in net income for the first quarter of the year.
21:32.4
That's up 113%.
21:34.3
Now, many other mining companies are still challenged
21:36.5
though. What are the prospects
21:38.1
for mining in 2024?
21:40.2
Isn't this supposed to be a recovery year for the
21:42.3
sector as well?
21:45.1
So,
21:46.3
we've seen a lot of mining companies
21:48.5
benefit from elevated
21:50.3
commodity prices post-pandemic.
21:52.7
But, it's relatively
21:54.0
cooled off. For the year, we see
21:56.6
a bit of a mixed bag for Philippine
21:58.7
mining companies.
22:00.5
So, the strength in demand still
22:02.5
outweighs supply. Atlas
22:04.5
for the first quarter was able to capitalize
22:06.7
on higher prices and take
22:08.5
advantage of the
22:09.7
take advantage of
22:14.3
their mining output for the period.
22:18.0
Nickel
22:18.7
saw some recent
22:20.5
price recovery, and a
22:22.7
lot of supply has been coming in from
22:24.7
other sources like
22:26.6
Indonesia. So, overall,
22:28.6
the mining sector may see
22:30.3
a recovery with the Philippine
22:32.6
government being more supportive of the sector.
22:35.0
But, the sector will only
22:36.7
be able to sustain
22:38.6
this
22:39.1
in the context of commodity
22:42.8
prices
22:43.5
not being too volatile.
22:46.8
So, I think that's the
22:48.6
crux.
22:51.1
We need to
22:52.7
be able to manage
22:54.2
cost inflation in order to go
22:56.0
from recovery to growth.
22:59.1
Alright.
23:00.3
Alright. On that note, Sandra Arroyo
23:02.1
of ATR Asset Management, we thank you
23:04.1
so much for joining us this afternoon. Have a
23:06.4
profitable trading week ahead.
23:08.6
Thank you, Sandy. Thank you, dear viewers.
23:11.2
Alright. As we reported
23:12.4
earlier, 19 cars at the
23:13.9
Ninoy Aquino International Airport were consumed
23:16.0
by fire on Monday afternoon. Let us
23:18.1
get more details about the accident
23:19.7
with MIA's head, Executive Assistant
23:22.3
Attorney Chris Bendejo.
23:23.8
Mr. or Attorney Bendejo, thank you so much
23:26.2
for taking our call. I know it's a busy
23:28.1
day.
23:29.7
Hi, Sir Stanley. Good afternoon. Yes, please
23:31.9
tell us about the fire incident at the
23:33.9
NIA. I understand this happened at
23:35.9
Terminal 3 at the parking lot where
23:37.9
19 cars are supposed to have been affected.
23:40.4
What more can you tell us?
23:42.5
That's right, Sir. The incident
23:44.0
transpired in the parking extension.
23:46.3
This is MIA property, but it's
23:48.0
currently leased out to a concessionaire.
23:50.4
We received the information,
23:52.3
or a report of a fire
23:53.8
at around
23:55.7
1.28 this
23:58.0
afternoon. And
23:59.5
when our
24:00.8
fire team responded,
24:04.0
they were able to
24:05.4
have the fire under control at 1.40.
24:08.7
But unfortunately,
24:10.0
due to the condition of the
24:11.8
property,
24:13.1
really there was dry grass all over
24:15.9
the place. I think that
24:17.6
contributed to how fast the fire
24:19.9
was able to consume
24:21.0
these
24:22.2
19 vehicles.
24:24.1
So right now, it's being investigated
24:26.4
by the Bureau of Fire.
24:28.1
They want to determine the origin.
24:31.2
Right now, they're doing
24:32.3
mapping of the area. We just came from
24:34.3
that area, actually. The GM and I
24:36.6
monitored the
24:38.3
incident, the
24:40.3
investigation being done. And what did you see
24:42.4
in the area when you went? Is the fire
24:44.5
still ongoing? Is it now being put out?
24:46.6
Is it under control? What's the status?
24:49.8
It was
24:50.5
fire under control, fire out at
24:52.1
1.40.
24:54.8
They were already
24:56.1
doing
24:57.3
inspection for each vehicle
25:00.2
that was damaged by the fire.
25:03.1
They're currently investigating
25:04.4
it now. We've received
25:06.3
initial reports that
25:07.7
the parking operator of that
25:10.1
area initially responded
25:12.5
to one vehicle
25:14.5
being consumed
25:16.2
by fire. But after
25:17.8
having consumed four
25:20.1
fire extinguishers already,
25:22.1
he couldn't control the fire anymore.
25:24.3
That's why a report was placed.
25:26.7
And immediately when our fire team
25:28.3
responded,
25:29.7
it took that really short
25:32.3
amount of time for the fire
25:34.2
to spread. I think it's
25:35.8
of course, with the weather condition,
25:38.6
the grass was really dry.
25:40.5
And I think that contributed to how
25:42.3
fast the fire was able to spread.
25:45.0
We're looking at some videos
25:46.1
of the supposed fire at Naia 3
25:48.3
right now. If I'm not mistaken,
25:50.5
this was, this
25:52.1
actually took place at
25:54.2
the right side
25:56.3
of the terminal, am I correct?
25:58.9
That reserved portion.
26:01.8
Actually,
26:02.5
this is the extension already.
26:04.4
Okay.
26:05.8
The VIP
26:08.5
parking,
26:09.9
before you get to the VIP parking
26:12.5
of Terminal 3,
26:14.0
this is the parking extension operated by a
26:16.3
private concessionaire. And that portion
26:18.5
is supposed to have been reserved
26:20.4
for actually airport employees.
26:22.1
Is it safe to assume as well that those
26:24.2
cars are from airport employees or
26:26.2
from passengers and the public?
26:29.6
It's an
26:30.3
open parking. It's a public parking.
26:32.4
Okay.
26:34.1
Actually, we've summoned already
26:36.2
the management of the parking operator.
26:39.2
When we
26:40.3
got there,
26:42.0
there was only one car owner,
26:44.2
vehicle owner, who presented himself
26:46.2
and identified the
26:48.2
vehicle that he owned. We're yet
26:50.2
to receive information. In fact, we're a bit
26:52.1
concerned about this. If the owners of the
26:54.0
vehicles are already aware
26:55.9
of the damage on their vehicles,
26:58.6
we're asking the parking management
27:00.3
to try to
27:02.3
backtrack. And so far, as the
27:04.1
CCTV is concerned, to determine the owners,
27:06.0
try to locate them if possible.
27:08.7
Again, we're investigating this now.
27:10.5
We're also going to talk to the
27:11.8
private concessionaires operating the parking.
27:14.7
Alright. I don't know,
27:16.1
Attorney Bendio, if you are
27:18.1
at the airport, at the thick of
27:20.1
everything, but I'd like to ask if,
27:22.1
this has affected operations at
27:24.0
Terminal 3 of Naia.
27:25.8
Is this causing flight disruptions or at least
27:28.1
heavy traffic congestion around the area?
27:32.0
No, no effect whatsoever
27:33.9
as to operations, as to the flights.
27:36.1
No cancellation, no delays.
27:38.2
The fire team was able
27:40.0
to control it in a matter of
27:42.2
I think 12 minutes from the time
27:44.1
that it was reported.
27:46.4
Unfortunately, it was just
27:48.0
really how, I guess,
27:50.1
the condition of the property.
27:52.1
It was the reason why the fire was able to spread
27:54.1
so fast. But no disruptions
27:56.3
whatsoever as to the flights.
27:58.2
Traffic has been minimized
28:00.1
already. Our Bureau of Fire
28:02.0
has already cordoned off the area.
28:05.2
Investigations are still
28:06.0
ongoing, but again, to your
28:08.1
question, no flight disruptions whatsoever.
28:10.4
Alright. And also, you mentioned earlier
28:12.1
this is under a private concessionaire.
28:15.3
Am I correct?
28:15.8
That's correct, sir.
28:17.5
Alright. May we know the name of that concessionaire?
28:20.8
If you have it.
28:21.3
Actually, right.
28:22.1
Right now, sir, I'm
28:23.5
going to our business concessions
28:26.9
in order for me to be able to
28:29.6
accurate. I'd rather have the document
28:31.6
before me so that I'd be able
28:33.7
to have accurate information.
28:36.1
So, until I have that document,
28:37.5
if it's alright, I hope I
28:38.7
don't mention any name first.
28:41.3
It's alright, sir. Lastly, what is the
28:43.5
advice to the public, particularly
28:45.1
to the cars, the motorists
28:47.7
that are headed that way
28:49.1
at Naia?
28:52.1
Well, right now, sir, the traffic
28:53.8
has already been controlled.
28:56.2
Just to be sure,
28:58.0
the GM has instructed
28:59.1
at least two fire trucks
29:01.9
to remain in the area
29:03.3
because, as you've said, I think
29:05.8
the condition of the property is what really
29:07.8
caused the speed
29:09.8
by which the fire was able to consume all of
29:11.7
these vehicles. So, just as a
29:13.7
matter of precautionary,
29:15.6
we are reserving two fire trucks
29:17.9
to be stationed near that area
29:19.4
in order to avoid any possible
29:22.0
similar incidents.
29:23.9
Alright, on that note, MIAA
29:25.5
Head Executive Assistant, Attorney Chris Bendio,
29:27.9
thank you so much for talking to us, sir.
29:30.4
Thank you very much, sir.
29:31.1
Alright, we were talking to
29:32.7
MIAA about a supposed
29:35.1
fire that transpired this afternoon
29:36.8
at the reserved parking area
29:39.4
at Naia Terminal 3
29:40.7
affecting 19 cars.
29:43.4
Now, Head Executive Assistant
29:45.1
for MIAA, Attorney Chris Bendio
29:47.0
was telling us this is owned by a
29:49.1
private concessionaire. Apparently, a theory
29:51.5
is...
29:52.0
dried grass may have contributed
29:54.2
to the fire. Now, we're still
29:56.8
in the process of identifying the owners
29:59.0
of those cars affected.
30:01.0
The fire is under control.
30:02.8
It has been extinguished, as he was
30:04.8
saying, and traffic is normal
30:06.7
around Terminal 3
30:08.5
of the Naia International Airport.
30:11.0
We'll try to get more details and images
30:12.7
from the scene as they
30:14.8
become available.
30:17.9
We're stepping aside
30:18.9
for a short break. When we return,
30:20.5
Philippine companies warned against the
30:22.0
practice of over-exaggerating job
30:24.1
titles. More news
30:26.0
after the break.
30:52.0
,
30:53.0
we'll be right back.
30:54.1
We'll be right back.
31:22.0
We'll be right back.
31:48.0
Welcome back. The Philippine Immigration Bureau
31:49.8
says majority of Chinese nationals who are
31:52.0
holders of student visas in the Philippines
31:54.1
are in the capital region.
31:56.4
The agency made that clarification
31:58.1
amid reports of an influx of Chinese
32:00.1
nationals in Cagayan, which hosts
32:02.1
joint military facilities
32:03.6
of Washington and Manila.
32:06.1
That has prompted lawmakers to call
32:08.1
for a probe into the possibility of
32:10.0
Chinese sleeper cells in the country.
32:14.9
Actually, majority
32:16.1
po ng mga foreign nationals are
32:18.2
particularly Chinese nationals
32:19.8
that were issued student visas.
32:22.0
Sa Metro Manila. Mahigit po
32:23.6
9,000 ang Chinese nationals
32:26.1
that have been issued student visas
32:27.6
in different schools in Metro Manila.
32:29.9
Ang ating inisuhan po ng
32:31.9
visa for 2023 ay
32:34.0
nasa 1,500 lamang po.
32:36.7
But on the ground po, we
32:38.0
verified more than 400
32:39.7
students.
32:44.1
On May 18, Leadership and
32:45.9
Development Organization, JCI Manila
32:48.2
is holding another edition of its
32:49.6
Electric Night Run for Hope.
32:52.0
This time around, the group aims
32:53.8
to raise funds for the construction
32:55.3
of transitory homes for those in need.
32:58.3
For more on this, we are joined by
32:59.7
Clifford Au. He's the project chairman
33:01.5
and Lawrence Tan, JCI Manila's
33:03.9
director for membership
33:05.7
benefits. Clifford and Lawrence, welcome to the Business Roadshow.
33:08.4
Hello. Thank you for having us, Stanley.
33:10.2
It's good to have you here.
33:11.0
Alright. Let's talk about
33:13.8
the Electric Night Run for Hope
33:15.6
2024. Sounds interesting.
33:18.2
What do we expect from that event?
33:20.4
Well, we
33:22.0
normally, we did
33:23.6
a color run last year.
33:25.7
We did a morning color run.
33:27.8
So this year, we wanted it to be
33:29.5
something different.
33:32.1
We went with a night run.
33:34.5
But still
33:35.5
with a color theme.
33:39.2
Because
33:39.8
our beneficiary
33:41.7
for this project is
33:43.3
the night shelter of
33:45.6
Hospicio de San Jose. So
33:47.1
this night shelter serves as a
33:49.7
shelter every night for the
33:51.7
homeless. So we
33:53.6
did a night run for the
33:55.7
night shelter. How different
33:57.7
do you think this would be from
33:59.3
a usual day run?
34:01.8
Actually,
34:02.7
usually during the day runs,
34:05.7
I think it's almost the same
34:09.8
but this one has more of a fun
34:11.5
vibe to it. Because
34:13.1
I think
34:15.6
during
34:17.7
the mornings, early mornings,
34:19.4
it's more serious. This one is more
34:21.6
fun. And the heat, if I may say
34:23.6
so, these days is terrible.
34:25.4
Yes, that's why it's going to be
34:27.0
perfect for the weather
34:29.6
right now. So at least
34:31.7
if it's at night,
34:34.0
you don't have to worry about
34:35.6
overheating
34:37.5
or dehydration.
34:41.2
This is not the first time that JCI
34:43.2
handled something like this. How big
34:45.5
an event can this become?
34:48.0
This one is actually the biggest
34:49.6
project for JCI Manila.
34:51.6
This year.
34:52.9
We've been doing fun run
34:55.5
fundraising events
34:57.4
since 2017.
35:00.2
And then we
35:01.3
stopped during the pandemic
35:03.1
around 2020
35:05.9
until
35:06.8
2022.
35:09.6
So last year there was a fun run?
35:11.0
Yes.
35:12.9
And last year we
35:15.4
had around 4,000 participants
35:17.7
in the run. This year
35:19.7
we are going for
35:21.5
6,000 participants.
35:23.4
Okay, that's 6,000 participants
35:25.1
for 2024. You better have
35:27.4
a big venue for this
35:29.0
where this is going to be held.
35:30.4
We're actually doing it in Philinvest, Alabang
35:33.3
in their open ground area.
35:35.8
So, because
35:37.2
due to it being a night run,
35:39.3
the normal locations for
35:41.4
fun runs are not really a very
35:43.3
viable option like
35:44.7
MOA or BGC because they can't really
35:47.2
close down the roads at night.
35:49.0
We opted to go with
35:50.6
the
35:50.8
Philinvest because they have done
35:53.1
a night run before. For you?
35:55.0
Not for us. But for other groups?
35:57.1
For others, yes. Okay, so how long is this
35:58.9
in terms of
35:59.7
length and what does it cover?
36:04.2
Would you like to ask?
36:05.7
It's 1K,
36:07.4
3K, 5K, and 10K.
36:09.6
Okay. We added the 1K
36:11.2
because last year
36:12.7
we observed there were some
36:14.9
children. Okay. So
36:16.5
people brought their kids.
36:19.1
So I think it's a little too much.
36:20.8
To have kids run 3K.
36:23.1
So we have a 1K option
36:24.6
for kids and
36:26.4
maybe for the
36:28.3
older participants
36:30.5
who want to join but can't really do
36:32.9
too long of a physical
36:34.3
activity. And also for those
36:36.9
who just want to participate
36:38.7
but don't want to get tired.
36:41.1
And when is this going to be held?
36:43.3
This will be on May 18.
36:45.2
May 18. That's next month already.
36:46.8
Yes, next month. It's on a Saturday.
36:48.3
So, no issues.
36:50.8
Going home late after the run, yes.
36:53.0
Right. You've been doing this project
36:54.5
for a couple of times now.
36:56.6
The beneficiary has always been the homeless.
36:59.2
Why target the homeless
37:00.9
for your event?
37:04.3
Basically,
37:05.4
JCI Manila,
37:06.5
we are an organization
37:08.3
that's made up of
37:10.7
young people. And then,
37:13.1
syempre,
37:14.1
for us,
37:16.8
yung mga homeless,
37:18.2
we want to give them
37:20.7
a sense of hope.
37:22.0
A sense of
37:23.0
parang there's a light
37:25.9
at the end of the hardships.
37:28.2
So, basically,
37:29.7
what we want to do is
37:31.6
for, there are also
37:33.5
young homeless people.
37:36.1
So, we want them to
37:37.6
have that chance.
37:39.9
So, as young leaders,
37:42.3
I guess that's our
37:43.5
thrust.
37:46.0
That's why always homeless
37:47.9
ang inaanin namin.
37:48.8
If not homeless,
37:50.7
last year, it was schools.
37:52.8
Schools for peace.
37:54.9
Yeah, yung education.
37:56.4
Youth lagi. More on youth.
37:58.7
So, this time,
38:00.4
homeless nga itong target.
38:02.1
And then, you're envisioning this to assist
38:04.6
that sector.
38:06.4
What sorts of assistance or help
38:08.5
do you intend to
38:10.4
provide them?
38:12.2
Actually, kasi when we started
38:14.8
looking for a beneficiary
38:17.0
for this
38:18.3
fundraising run,
38:20.7
we looked at
38:23.3
Hospisyo.
38:25.0
Hospisyo is a...
38:26.7
I've been to Hospisyo before.
38:30.9
Something about
38:31.8
Hospisyo touched me.
38:33.1
Because it's not only, again,
38:34.6
youth is a big factor.
38:36.9
But it's not only the youth, but it's also
38:38.8
they have also
38:40.4
a home for the aged.
38:42.7
And then, meron sila yung mga
38:44.5
medyo was abused
38:47.2
domestically. They also
38:48.3
sheltered them. So,
38:50.7
parang, we felt na
38:52.6
mileage namin
38:55.5
for, you know,
38:56.6
raising funds, mas maraming matutulungan.
38:59.0
It's not just the youth, not just the homeless,
39:01.3
but pati yung mga
39:02.6
elders. Yeah, we can reach out.
39:05.6
Yeah.
39:06.1
Okay, at the forefront of this is JCI,
39:08.1
which is,
39:09.6
we define that as a
39:11.6
group that promotes leadership
39:13.7
and civic action.
39:16.6
How has that experience been for
39:18.2
JCI in the past years?
39:20.2
Well,
39:20.4
I'm actually a new member.
39:22.7
I came in last year.
39:25.6
But
39:25.7
it's, it's, the brotherhood
39:28.5
is there. So, I think
39:30.4
that's one aspect I would say
39:32.5
that's, that
39:34.5
makes me want to participate.
39:37.8
But also,
39:39.2
you can see that it's
39:40.5
not all,
39:41.7
it's not all fun.
39:44.5
You know, it's also serious.
39:47.2
We, JCI
39:48.6
is a, like,
39:50.4
Director Lawrence said,
39:52.1
JCI is a youth-centered,
39:54.0
for young leaders.
39:55.6
So, it's a, it's a development.
39:57.0
It's training.
39:57.6
So, we, we get to learn the skills via the projects.
40:03.4
So, you take over, you handle a project.
40:06.3
You're with a group of similar peers.
40:11.0
So, you have to navigate how to work together
40:14.7
because most of them are, like, all of you are bosses or,
40:19.7
or industry leaders or businessmen.
40:22.8
So,
40:23.3
So, my contribution.
40:24.2
Yes.
40:24.7
You have skills and other abilities that you can contribute to the group.
40:28.0
And also, the leadership, how to get this group together.
40:30.9
Because, normally, these people are shot callers in their companies, in their, so,
40:37.3
you have to factor that in.
40:41.1
It's, it's, it's a learning experience.
40:43.8
And, like, we give back via community development.
40:49.7
And, we try to hone, not only ourselves, but also help in the process.
40:59.5
Okay.
40:60.0
So, Director Lawrence.
41:01.0
How has that experience changed you?
41:02.9
Being a part of something bigger?
41:04.9
Honestly, the, the experience, the changes within me, it's, it's different, you know.
41:18.1
Because,
41:19.2
iba yung regular members
41:20.8
like chairman Cliff here
41:22.3
as a part of the board
41:24.6
the training that
41:27.0
we're getting from handling
41:29.0
a project and then lalo na if you
41:31.1
see the faces of yung mga napasaya
41:33.2
mong tao
41:34.4
sense of accomplishment
41:35.9
and sense of parang
41:38.1
you did something na
41:39.9
yung sa atin, kala mo maliit lang
41:43.0
pero sa kanila, you're talking about
41:44.6
their meal for like a week
41:47.3
and then for us
41:49.1
it's like a meal for a day
41:50.5
parang ganun, so parang you get to be more
41:52.8
conscious of what you're doing
41:55.0
in your everyday life, you get to be more
41:57.1
you get to be more
41:59.9
parang ano ba, empathy
42:01.8
you get to have more empathy towards your fellow men
42:04.9
yung ganun sense of
42:06.8
feeling
42:07.4
the growth
42:10.1
parang nakita mo na not everything is all
42:12.9
roses
42:14.0
lastly guys, I wanna ask you
42:16.6
how do you envision JCI to grow
42:18.5
in the next
42:19.0
couple of years
42:20.5
in terms of membership and essence
42:22.8
I think better you answer
42:25.2
alright
42:26.4
ako basically
42:28.4
us, the JCI
42:30.8
Manila
42:31.8
we wanted to be like
42:35.1
the foremost
42:36.9
foremost
42:39.5
network when it comes to
42:41.6
having
42:43.0
leaders
42:45.7
developing
42:46.8
leaders
42:48.2
parang
42:49.0
basically what we have to happen is
42:51.0
let's say
42:52.0
someday down the road
42:53.0
there's gonna be another
42:56.0
you know
42:58.0
business tycoon
42:60.0
is gonna say na
43:01.0
my training came from JCI Manila
43:03.0
so we envision it
43:05.0
that's a good vision
43:07.0
if you are to talk to a young person now
43:10.0
a potential leader
43:11.0
how would you make that pitch to join you?
43:14.0
well normally we'd ask
43:18.0
what
43:19.0
what he wants
43:20.0
to achieve
43:21.0
in general
43:22.0
in life
43:23.0
di ba?
43:24.0
what you want
43:25.0
do you just
43:26.0
wanna just focus on work
43:27.0
because if you just wanna focus on work
43:29.0
medyo
43:30.0
it's
43:31.0
you have to give a little bit of time
43:32.0
yeah
43:33.0
so
43:34.0
it depends
43:35.0
if you want more network
43:36.0
it depends also what industry you're in
43:39.0
but normally we approach it in a way
43:42.0
when we approach
43:44.0
it's mostly
43:46.0
we bring in muna the
43:47.0
the
43:48.0
the fun parts
43:49.0
yeah
43:50.0
of course you can't go
43:51.0
you can't go too serious
43:52.0
yeah
43:53.0
the first time you meet
43:54.0
but
43:55.0
the
43:56.0
the
43:57.0
the enjoy
43:59.0
the
43:60.0
projects
44:01.0
there are
44:02.0
we have a lot of
44:03.0
projects geared for members
44:05.0
um
44:06.0
that's what
44:07.0
Director Lawrence's
44:09.0
directorate is about
44:10.0
it's for the
44:11.0
internal members
44:12.0
but
44:13.0
we also
44:14.0
do projects
44:15.0
that are fundraising
44:16.0
for the other
44:17.0
other directorates
44:18.0
so
44:19.0
you
44:20.0
you
44:21.0
slowly get to see
44:22.0
and
44:23.0
once you're more involved in it
44:25.0
you get
44:26.0
it's a different
44:27.0
sense of
44:28.0
uh
44:29.0
uh
44:30.0
accomplishment
44:31.0
because you are the one doing it
44:33.0
so you
44:34.0
you don't just pass it on
44:36.0
to
44:37.0
other people to finish
44:38.0
but
44:39.0
from start to end
44:40.0
you're there
44:41.0
all right
44:42.0
lastly
44:43.0
we go back to the
44:44.0
night fun run
44:45.0
the electric night run for hope
44:46.0
uh
44:47.0
maybe some details
44:48.0
how do you join
44:49.0
how much
44:50.0
and
44:51.0
yes
44:52.0
um
44:53.0
the ticket price is
44:54.0
two thousand pesos
44:55.0
it's a little higher than
44:56.0
a morning run because
44:57.0
the expenses to make
44:59.0
to do it at night
44:60.0
yeah
45:01.0
it's a little also
45:02.0
it's a little higher
45:03.0
um
45:04.0
you can
45:05.0
register
45:06.0
uh
45:07.0
on
45:08.0
our
45:09.0
website
45:10.0
jcimanila.org
45:11.0
uh
45:12.0
we have uh
45:13.0
in the events section
45:14.0
it's there
45:15.0
uh
45:16.0
facebook uh
45:18.0
account
45:19.0
um
45:20.0
just search for
45:21.0
electric night run for hope
45:23.0
okay
45:24.0
on facebook
45:25.0
and then you can message us as well
45:27.0
and then uh
45:28.0
you can also
45:29.0
you can also go to
45:30.0
uh
45:31.0
the color fest
45:32.0
facebook page
45:33.0
and you're also on social media i suppose
45:35.0
yes
45:36.0
okay
45:37.0
so they can join their uh
45:38.0
through there as well
45:39.0
yes
45:40.0
all right
45:41.0
maybe lastly director lawrence
45:42.0
uh
45:43.0
an invite from you
45:44.0
for all those interested
45:45.0
yeah uh
45:46.0
uh
45:47.0
to everyone
45:48.0
i hope that
45:49.0
you can join us
45:50.0
uh
45:51.0
uh
45:52.0
during our
45:53.0
event
45:54.0
uh
45:55.0
you know it's
45:56.0
it's for a good cause
45:57.0
uh
45:58.0
and it's gonna be fun
45:59.0
not
45:60.0
nothing too serious
46:01.0
uh
46:02.0
but of course we also have
46:03.0
uh
46:04.0
uh
46:05.0
uh
46:06.0
distance that's
46:07.0
for the more serious
46:08.0
uh
46:09.0
runners
46:10.0
uh
46:11.0
but uh
46:12.0
bring your kids
46:13.0
family
46:14.0
friends
46:15.0
wife
46:16.0
uh
46:17.0
so
46:18.0
so i hope
46:19.0
uh
46:20.0
i hope to see everyone
46:21.0
all right on that note
46:22.0
clifford our project chairman of electric night run for hope and lauren stan director for membership benefits jci manila thank you so much for being with us
46:30.0
thank you for having us
46:31.0
have a great day
46:32.0
thank you
46:33.0
moving on giant robots invade a mega warehouse in the uk employing ai to ensure optimal operation take a look
46:40.0
warehouse operations are reaching new heights thanks to these giant shelf scanning robots
46:45.0
world's tallest autonomous robots developed by uk based dexory the robots can patrol mega
46:51.1
warehouses and use artificial intelligence to scan its surroundings this helps detect
46:56.9
and address warehouse problems faster from damage stock to infrastructure issues dexory systems can
47:04.1
capture millions of data points across multiple locations each day that data is then used to build
47:11.4
up a detailed 3d model of the warehouse
47:15.0
to offer real-time insights and predictive analytics.
47:19.0
Dexery's giant robots also have a neat trick.
47:22.2
They can extend upwards to give it a height of about 12.5 meters or roughly 40 feet.
47:28.7
Andre Dinescu is co-founder and CEO of Dexery.
47:32.6
So they're the size of a warehouse rack.
47:34.8
They're about 12.5 meters tall,
47:37.3
which gives them the ability as they pass through the warehouse
47:40.7
to scan everything in one swift go, in one swift pass.
47:44.1
So they have a number of cameras,
47:46.0
they have a number of laser measurement systems on them,
47:49.2
and this gives them the ability to create a digital copy of the rack
47:53.0
and really understand how goods are being kept,
47:56.5
how efficiently the pallet space is being utilized,
48:00.1
and basically it helps the warehouse operators
48:02.6
to run their facility in the most efficient way.
48:07.3
A single battery-powered robot can scan warehouses of 1 million square feet in size
48:12.4
and over 100,000 units of equipment.
48:14.1
It can then return autonomously to its charging station when needed.
48:20.6
Global shipping and logistics company AP Moller Maersk
48:24.2
partnered with Dexery in January 2023
48:27.0
with the aim to optimize warehouse management in the UK.
48:31.5
Maersk says the robot is used in all of its UK locations
48:34.7
and is being rolled out to some in Europe.
48:37.9
But it's not coming at the cost of the human worker,
48:40.5
according to Maersk's commercial lead, Fergus Wynum.
48:44.1
No, I don't think it's replacing humans,
48:46.5
and we're not replacing something,
48:48.3
we're actually enhancing it.
48:50.1
And that means that for our colleagues, it's positive
48:52.6
because when they go to a location,
48:54.7
they have faith that the location has the product in it.
48:57.1
Therefore, they see the benefit of working alongside the robot
49:00.3
and it becomes a positive influence on the working environment.
49:08.2
Philippine companies warned against the practice of over-exaggerating job titles.
49:13.5
This is a story from the Philippines.
49:13.7
This is a story from the Philippines.
49:13.9
This is a story from the Philippines.
49:14.0
This is a story from the Philippines.
49:14.1
This remark from recruitment specialist Robert Walters
49:16.6
comes after it found a noticeable rise in job title inflation among Filipino employers.
49:23.9
Its study showed a significant 34% increase in titles such as directors
49:28.2
and 22% increase in titles like presidents for positions intended for professionals
49:34.9
with only two years of experience.
49:37.7
Now, the group says this practice, which inflates a position
49:40.5
to make it more attractive than it actually is,
49:43.4
does not bode well for both the company and the employer.
49:46.8
Not only its detrimental to the company,
49:52.1
but also to the employee itself, right?
49:54.6
Once they realize that the position that they applied for
49:57.8
doesn't have a really strategic position in the organization,
50:01.4
that's where actually the problem relies heavily upon.
50:04.9
Once it's sent into them that it's not a very strategic position,
50:11.4
and once they move out of their current company in an inflated job,
50:16.8
there could be a possible mismatch of their specific position
50:21.4
in their current organization versus what's actually available in the market.
50:28.1
The Philippine government says it has started procuring palay at higher prices
50:32.5
to boost the country's buffer stocks and farmers' income.
50:35.8
The National Food Authority Council raised the buying price for fresh or wet palay
50:40.0
at 17 to 23 pesos per kilo.
50:43.0
That is up from 16 pesos to 19 pesos.
50:46.8
For clean and dry palay, the buying price is now at 23 to 30 pesos.
50:52.5
The law requires the NFA to maintain a stock of around 300,000 tons of rice,
50:58.2
which the agency said is enough for nine days of consumption.
51:05.3
And those are the latest in all things business.
51:07.8
I'm Stanley Palizada.
51:09.0
Subscribe to the ANC YouTube channel, like us on Facebook, and follow us on Twitter.
51:13.8
Join us again tomorrow for another edition of The Business Roadshow.
51:16.8
Thank you for watching!
