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  • Dmall Inc. Announces Proposed Listing on the Main Board of the Hong Kong Stock Exchange

    • Offer Price is HK$30.21 per Share
    • To Raise Proceeds Up to HK$ 779 Million

    China’s largest retail digitalization solution provider– Dmall Inc. (Dmall or the Company, HKG: 2586), today announced the proposed listing of its shares on the Main Board of The Stock Exchange of Hong Kong Limited (Hong Kong Stock Exchange).

    Dmall plans to offer 25,774,000 Shares (subject to the over-allotment option), of which 23,196,600 Shares will be International Offer Shares (subject to reallocation and the over-allotment option), representing approximately 90% of the initial offer shares; the remaining 2,577,400 Shares will be Hong Kong Offer Shares (subject to reallocation), representing approximately 10% of the initial offer shares. The Offer Price is HK$30.21 per Share, plus brokerage of 1.0%, SFC transaction levy of 0.0027%, Hong Kong Stock Exchange trading fee of 0.00565% and Accounting and Financial Reporting Council transaction levy of 0.00015% (payable in full on application in Hong Kong dollars and subject to refund).

    Dmall will open for Hong Kong Public Offering in Hong Kong at 9 a.m., November 28, 2024 (Thursday), and close at 11:30 a.m., December 3, 2024 (Tuesday). Dealings in shares of Dmall on the Main Board of the Hong Kong Stock Exchange is expected to commence on December 6, 2024 (Friday). The shares will be traded in board lot of 100 shares each. The Company’s stock code will be 02586.HK.

    UBS Securities Hong Kong Limited, CMB International Capital Limited and China Merchants Securities (HK) Co., Limited are the Joint Sponsors. UBS AG Hong Kong Branch, CMB International Capital Limited, China Merchants Securities (HK) Co., Limited, CLSA Limited and China International Capital Corporation Hong Kong Securities Limited are the Joint Global Coordinators, Overall Coordinators, Joint Bookrunners and Joint Lead Managers.

    After deducting the underwriting commissions and other estimated offering expenses payable by the Company, with an Offer Price of HK$30.21 per Offer Share, the Company estimates that it will receive net proceeds of approximately HK$623.7 million from the Global Offering after deducting the underwriting commissions and fees, and other estimated expenses in connection with the Global Offering and assuming that the Over-allotment Option is not exercised. In line with Dmall’s strategies, the proceeds from the Global Offering are intended to be used for the following purposes and in the following amounts – approximately 42.1%, or HK$262.6 million, to develop new applications and new service modules; approximately 30.0%, or HK$187.1 million, for talent acquisition associated with the expansion of Dmall’s operations; approximately 10.0%, or HK$62.4 million, to selectively pursue strategic cooperation, investments and acquisitions that are complementary to its organic growth strategies, particularly those that can complement Dmall’s product offerings, strengthen its technology capabilities, and solidify its market position; approximately 7.9%, or HK$49.3 million, to expand its sales network and further strengthen its brand reputation; and approximately 10.0%, or HK$62.4 million, for working capital and general corporate purposes.

    Dmall was founded in 2015, which provides retail digitalization solutions to retailers in the local retail industry. According to Frost & Sullivan, Dmall is the largest retail cloud solution provider in China by GMV, with a market share of 13.3% in 2023. The expansion has allowed the Company to become the largest retail cloud solution provider in Asia by GMV in 2023, occupied a market share of 10.9%, according to Frost & Sullivan.

    As a leading retail digitalization solution provider in Asia, the broadest operational modules coverage enables Dmall to cover diverse customer base in the retail industry and thus obtain deep retail know-how, meet the needs of all major aspects of the retailer’s operations. Dmall served 444 customers in the six months ended June 30, 2024, such as Pangdonglai, Luosen (China), Dennis and Maidelong Entities, as well as well-known brands such as Wellcome, Mannings, Guardian, Giant and 7-Eleven (Hong Kong), which operate under the DFI Retail Group, demonstrating a widely validated operating model. The dollar-based net retention ratio was 184% in 2021, 158% in 2022, 117% in 2023 and 123% in the twelve months ended June 30, 2024, remaining robust at above 100%, which underscores Dmall’s ability to further increase customer spending.

    Dmall has always attached importance to the value created for customers, “customer success” is the starting point of everything the Company does. Dmall has provided services to leading companies in different retail formats, and has successfully expanded its businesses markets outside of the Chinese mainland, comprising Hong Kong SAR, Cambodia, Singapore, Malaysia, Poland, Macau SAR, Indonesia, the Philippines and Brunei. In terms of income, the overseas income of the Company in 2023 has exceeded RMB100 million.

    Dmall achieved strong revenue growth as its revenue grew by 56.6% from RMB848.2 million in 2021 to RMB1,328.3 million in 2022, and further increased by 19.4% to RMB1,585.4 million in 2023. Dmall’s revenue increased by 22.9% from RMB764.0 million in the six months ended June 30, 2023 to RMB939.2 million in the six months ended June 30, 2024. Dmall has also improved its gross margin during the Track Record Period. Dmall’s gross margins were 20.4%, 38.0%, 35.0%, 36.3% and 38.3% in the years ended December 31, 2021, 2022, 2023 and the six months ended June 30, 2023 and 2024, respectively.

    Mr. Zhang Feng, co-founder, executive Director and president of Dmall said, “We empower retailers to thrive in the digital era and are committed to becoming the world’s leading omnichannel retail digital solutions provider. We will uphold the values of “continuous innovation”, always strive, constantly strengthen and uphold our own technical barriers and optimize products and services, maintain core competitiveness, continue to provide customers with high-value services, and help customers’ business. We look forward to taking the listing as an opportunity to fully leverage our competitive advantages and utilize Hong Kong’s unique financing platform to further enhance our strengths and continue to create greater value for our shareholders and investors.”

    Issued by Porda Havas International Finance Communications Group for and on behalf of Dmall Inc. For further information, please contact:

    Porda Havas International Finance Communications Group

    MS.Fung Kelly (852) 3150 6763 kelly.fung@h-advisors.global
    MS.Wang Evie (86) 135 2006 8960 evie.wang@h-advisors.global
  • Society Pass (Nasdaq: SOPA) Engages ThinkEquity to Facilitate Stock Repurchase Program of Up to US$2 Million Commencing on 01 February 2023

    Society Pass (Nasdaq: SOPA) Engages ThinkEquity to Facilitate Stock Repurchase Program of Up to US$2 Million Commencing on 01 February 2023

    Society Pass Incorporated (SoPa) (Nasdaq: SOPA), Southeast Asia’s (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem, today announces that its Board of Directors has approved a stock repurchase program authorising the repurchase of up to US$2 million of its common stock, commencing on 01 February 2023.

    Dennis Nguyen, Founder, Chairman and Chief Executive Officer, comments, “We are pleased to announce the approval of this share repurchase program, providing us with a significant tool to generate shareholder value. As of 31 December 2022, SoPa has approximately US$19 mn of cash and zero long-term debt. Given our closing stock price of $1.11 on 31 January 2023, our current undervalued market capitalisation presents an extremely attractive opportunity to buy our common shares at a significant discount to their intrinsic value. Our well capitalised cash position, which translates into approximately $0.70 per share, and strong revenue generation allow SoPa to build out our next generation fintech and e-commerce ecosystem in SEA through paradigm shifting acquisitions and fund this stock repurchase program.”

    The Company engaged ThinkEquity LLC to purchase shares of the Company’s common stock from time to time in the open market at prevailing market prices, in privately negotiated transactions or other means in compliance with applicable federal securities laws. The timing and amount of stock repurchases under the program, if any, will be at the discretion of management, and will depend on a variety of factors, including price, available cash, general business and market conditions and other investment opportunities. Any shares acquired will be available for general corporate purposes. Information regarding share repurchases will be available in the Company’s periodic reports on Form 10-Q and 10-K filed with the Securities and Exchange Commission or as otherwise required by applicable federal securities laws. The Company had approximately 26.6 million shares outstanding as of 20 January 2023.

    About Society Pass Inc.
    Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

    Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.

    SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa’s data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 205,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.

    SoPa leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, digital advertising platform; NusaTrip, a leading Indonesia-based Online Travel Agency; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam’s leading lifestyle e-commerce platform; Handycart.vn, a leading online restaurant delivery service based in Vietnam; Mangan.ph, a leading local restaurant delivery service in Philippines and Pushkart.ph, a popular grocery delivery company in Philippines.

    For more information on Society Pass, please visit:
    Website at https://www.thesocietypass.com or
    LinkedIn at https://www.linkedin.com/company/societypass or
    Facebook at https://www.facebook.com/thesocietypass or
    Twitter at https://twitter.com/society_pass or
    Instagram at https://www.instagram.com/societypass/.

    Cautionary Note Concerning Forward-Looking Statements
    This press release may include “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus relating to the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

    Media Contacts:
    PRecious Communications
    sopa@preciouscomms.com

  • Emperador Inc. to pursue a Secondary Listing in the Singapore Stock Exchange

    Emperador Inc. to pursue a Secondary Listing in the Singapore Stock Exchange

    On August 17, 2021, the Board of Directors of Emperador Inc. (“Emperador” or “the Company”) approved the Company’s pursuit of a Secondary Listing by Way of Introduction (“Secondary Listing”) on the Main Board of the Singapore Exchange (“SGX”).

    The Company’s Board of Directors has granted authority to the Company’s Management to deliver all the necessary requirements for a Secondary Listing on the SGX as soon as practicable. The Company will continue to maintain its Primary Listing in the Philippine Stock Exchange (“PSE”) and the stock is anticipated to trade in both exchanges concurrently, subject to obtaining the necessary regulatory approvals.

    According to Emperador Chairman and Founder, Dr. Andrew L. Tan, “We believe that SGX, one of the most developed exchanges in Asia, is the appropriate secondary exchange to raise the international profile of Emperador. We are very excited at the prospect of becoming the first ever PSE-primary listed company to conduct a Secondary Listing in the SGX and are optimistic that our Secondary Listing will serve as a catalyst to enhance the strategic collaboration between the PSE and the SGX.”

    According to Emperador President Winston S. Co, “Over the years, Emperador has established itself as a leading global spirits company with established footprint in over 100 countries and leading market positions in brandy and whisky. We believe that a Secondary Listing on the SGX will create stronger awareness of Emperador and its world-class brands, as well as increase our stock’s visibility and international investor participation reflective of our global operations and revenue.”

    The Company has appointed financial, legal and other necessary advisers to pursue the Secondary Listing.

    Emperador is an integrated, global, leading manufacturer, bottler and distributor of brandy, Scotch whisky and other alcoholic beverages. In 2020, the Company was the largest brandy producer in the world according to the International Wines and Spirits Research, one of the largest overall spirits producers in the Philippines according to the Nielsen Company and the fifth largest Scotch whisky manufacturer in the world based on total Scotch production capacity in 2020 (grain and malt liquids productions only) according to the Scotch Whisky Industry Review. As of 2020, Emperador the Company’s brandy products held an 86.5% market share among all local and imported brandies in the Philippines based on volume according to Nielsen Company.

    Emperador Inc. owns the multi-awarded Fundador Spanish Brandy de Jerez, having recently won the highest Platinum Award bestowed by the San Francisco World Spirits Competition, particularly for Fundador Supremo 18.

  • Del Monte Philippines partners with Vinamilk to expand into dairy sector

    Del Monte Philippines partners with Vinamilk to expand into dairy sector

    Del Monte Philippines, Inc. (DMPI), a subsidiary of Del Monte Pacific Limited, has forged a strategic alliance with Vietnam Dairy Products JSC (Vinamilk), a leading regional dairy company.

    DMPI and Vinamilk entered into a joint venture to expand into the dairy sector in the Philippines with both companies contributing 50% of the total investment capital.

    The joint venture will import dairy products from Vinamilk, and market and distribute them in the Philippines through DMPI.

    Vinamilk is among the Top 40 largest dairy companies globally, ranked 36th by revenue with US$2.6 billion of sales in 2020. It is also the largest listed food and beverage company in the stock exchange of Vietnam with a market capitalization of US$9 billion.

    With an end-to-end value chain comprising of 13 dairy farms certified with global standards (GLOBAL G.A.P., EU/US Organic) and a total herd of nearly 160,000 cattle, 13 factories, and 250,000 retail outlets across Vietnam, Vinamilk’s product offering includes more than 250 SKUs that are able to address all nutrition needs of consumers.

    Beyond Vietnam, Vinamilk has been exporting to 56 countries and is known for their quality, nutrition, and innovation. It also has three factories in the USA, New Zealand, and Cambodia and a major organic dairy farm complex in Laos.

    The joint venture with DMPI will leverage Vinamilk’s successful long track record in the dairy industry spanning 45 years.

    The joint venture will co-brand its products and leverage the strong brand equity of Del Monte in the country. In Campaign Asia Pacific’s Top 100 brands in the Philippines in 2020, Del Monte ranked as the number one locally-owned brand in the country and was one of only three food and beverage brands in the top 20.

    DMPI celebrates its 95th year in the Philippines this year and has been nourishing consumers for generations. Similarly, Vinamilk consistently lands as the leading brand in the list of both Campaign Asia Pacific’s Top 10 strongest brands in Vietnam and Forbes’ Top 50 leading brands in Vietnam with Vinamilk’s brand value reaching US$2.4 billion. – BusinessNews.ph

  • VFS Global opens new UAE Attestation Centres in the Philippines

    VFS Global opens new UAE Attestation Centres in the Philippines

    – From 1 July 2021, customers in the Philippines receive the services at the three new UAE Attestation Centres in Makati, Malate and Cebu
    – VFS Global serves the Embassy of the United Arab Emirates (UAE) in the Philippines to accept applications for attestation from the Embassy

    Customers in the Philippines can directly visit the UAE Attestation Centres located in Makati City, Malate in Manila and Cebu without any prior appointment for document attestation services which commenced on 1 July 2021. Services at the Centre include personal documents (Birth Certificate, Marriage Certificate etc.), educational documents (School Certificate, Diploma etc.), and commercial documents (Business Registrations, Invoices).

    Customers who are travelling to UAE or the Middle East can submit their documents in person for attestation by walk-in directly at our new centres that adhere to the stringent safety and physical distancing guidelines prescribed by the World Health Organisation and local authorities. The convenience of doorstep document collection and delivery with real-time tracking of key documents via courier will be made available soon for the residents in these three locations. The mode of payment is cash only at present. Please note that all documents submitted for attestation should already have an apostille by DFA (Department of Foreign Affairs), UAE.

    Commenting on the inauguration of the new UAE Attestation Centres, Mr Jiten Vyas, Regional Group COO, VFS Global, “We are excited to extend our long-standing partnership with the Government of the UAE to the next level through the launch of the new Attestation Centres in cooperation with the UAE Ministry of Foreign Affairs. By leveraging on our vast operations network and expertise in Attestation services globally, our newly opened UAE Attestation Centres across the Philippines will offer an enhanced experience for customers with a secure application process and with a range of Value Added Services like pick and drop, end-to-end support, courier, translation etc.”

    Key advantages of the new UAE Attestation Centre include:
    – Secured end to end process legalisation process
    – Safety of documents shared for attestation and legalisation
    – On-time processing and return of important documents

    Important information for UAE attestation services customers in the Philippines:

    As the safety of our customers and employees is our priority, VFS Global has implemented strict health and safety measures in line with Government guidelines for physical distancing at the Centres. Customers must wear a face mask/face covering to enter the premises, and a temperature reading will be required on arrival. Customers exhibiting COVID-19 symptoms, including fever (higher than 37.3 degrees Celsius), cough and difficulty in breathing, will not be allowed to proceed with their applications and be allowed to reschedule their appointments for another day.

    Customers can visit our website: http://www.vfsattestation.com/philippines/ or call our helpline number +639190615894 or email us infodvpcmnl@dubaivisa.net for more details.

    UAE Attestation Centre
    – Address in Makati City: VFS Global, Unit M01, Mezzanine Floor, Ecoplaza Building, 2305 Chino Roces Ave.Extension, Makati City, Metro Manila 1231, Philippines
    – Address in Malate: VFS Global, Ground Floor, DY International Building, San Marcelino corner Gen. Malvar St. Malate, Manila 1004, Philippines
    – Address in Cebu: VFS Global, 5th Floor Unit 503 Kepwealth Center, Samar Loop cor. Cardinal Rosales Avenue, Cebu Business Park, Cebu City 6000, Philippines
    Email id: infodvpcmnl@dubaivisa.net
    Helpline: +639190615894
    Website: http://www.vfsattestation.com/philippines/
    Submission Timing: 0900 hrs – 1300 hrs (Monday to Friday, except holidays)

    *VFS Global will be responsible only for accepting applications for client missions. All applications submitted will continue to be assessed and processed by the respective client missions. Timelines for turnaround are as per the discretion of the authorities.

    About VFS Global

    VFS Global is the world’s largest outsourcing and technology services specialist for governments and diplomatic missions worldwide. With 3523 Application Centres, operations in 143 countries across five continents and over 230 million applications processed (since inception in 2001) as on 30 June 2021, VFS Global is the trusted partner of 62 client governments. The company manages non-judgmental and administrative tasks related to applications for visa, passport and consular services for its client governments, enabling them to focus entirely on the critical task of assessment.

    VFS Global is majority-owned by the global investment organisation EQT. The Swiss-based Kuoni and Hugentobler Foundation holds a minority stake in VFS Global. EQT is a global investment organization with offices in Europe, North America and Asia-Pacific and a 27-year track record of consistent investment performance across multiple geographies, sectors, and strategies. EQT AB Group is listed on the Nasdaq Stockholm stock exchange. EQT manages and advises a range of specialized investment funds and other investment vehicles that invest across the world with the mission to generate attractive returns and future-proof companies. EQT funds’ investors do not influence portfolio companies’ decision making or strategies. Nor do they have access to private and confidential business assets or client and customer data.

    Media Contact
    Sukanya Chakraborty
    sukanyac@vfsglobal.com
    communications@vfsglobal.com

  • Today’s PSE: High Activity in ICT and MONDE Amidst Varied Sector Performance

    In today’s session at the Philippine Stock Exchange (PSE), trading was marked by mixed performances, with International Container Terminal Services, Inc. (ICT) and Monde Nissin Corporation (MONDE) standing out as the most active stocks in terms of value, StockMarketNews.ph reported.

    ICT led the market with a 2.56% increase to PHP 280.00, backed by a trading volume of 1,826,840 shares worth PHP 507,893,168.00. Bank of the Philippine Islands (BPI) also saw gains, up 0.44% to PHP 115.00 with over 3 million shares traded.

    Conversely, GT Capital Holdings, Inc. (GTCAP) faced the largest decline, dropping 3.47% to PHP 695.00. Monde Nissin enjoyed a 2.08% rise to PHP 10.82, reflecting positive investor sentiment. Other notable stocks like Jollibee Foods Corporation (JFC), Ayala Corporation (AC), and Universal Robina Corporation (URC) contributed to the day’s trading dynamics.

    Overall, the PSE recorded a total trading volume of 41,471,710 shares, demonstrating active market participation amidst a landscape of varied sector results. – BusinessNews.ph

  • JCB and East West Banking Corporation announce the launch of EastWest JCB Credit Card

    TOKYO & MANILA, Nov 10, 2022 – (JCN Newswire) – JCB International Co., Ltd., the international operations subsidiary of JCB Co., Ltd., Japan’s only international payment brand, and East West Banking Corporation announce the launch of EastWest JCB Credit Card, a first for JCB in the Philippines in 25 years.

    EastWest JCB Gold Credit Card and EastWest JCB Platinum Credit Card offer several rewards such as accumulate reward points that can redeem them for airline miles, cash rebates, or annual membership fee waiver. Also, it offers year-round special promotions and discounts from partner merchants in-store and online, from shopping, and dining to travel and leisure and even more on your international purchases with a low foreign conversion fee.

    The signing of the memorandum of agreement (MOA) to seal this partnership was recently held at the Hotel Okura Manila. JCB was headed by President and COO of JCB International Yoshiki Kaneko and Yusuke Matsui, JCB Manila’s Country Manager. EastWest on the other hand was headed by Vice Chairman and CEO Antonio C. Moncupa, Jr. and President Jacqueline S. Fernandez.

    In his opening remarks, Antonio C. Moncupa, Jr., EastWest’s Vice Chairman and CEO, pointed out that EastWest’s partnership with JCB is part of the Bank’s efforts to meet their customers’ growing needs for financial products that will allow them to have more options and better experiences in their everyday life.

    “With the EastWest JCB Credit Card, we are bringing more Filipinos closer to the Japan experience in general and, in particular, to see the famed ‘Customer-Centered Focus,’ the core of JCB’s ‘Service from the Heart’ service standards. We in EastWest hope to learn from JCB as we pursue our efforts to be a world-class bank anchored on service excellence,” Moncupa said.

    He added that the credit cards will be a new way to better experience the modern lifestyle that Japan has to offer.

    “As JCB says, it is ‘uniquely yours’. We thank JCB for the partnership as we share the wonders of the well-known ‘Japanese way’ with our customers,” Moncupa said.

    Yoshiki Kaneko the President and COO of JCB International pointed out in his remarks that he considered the MOA signing a historic one since EastWest Bank is the first issuing partner of JCB in the Philippines for the past 25 years.

    “As the only international payment brand from Japan, JCB stays true to its Japanese pillars of reliability, preciseness, and hospitality. EastWest reflects the same flexibility and drives to deliver the best customer experience that we champion. Your adherence to the values that we stand for has made both our companies a perfect match,” Kaneko said.

    He added that through the partnership, both EastWest and JCB would be able to deliver a world-class level of care and satisfaction to customers in the Philippines and bring them closer to Japan.

    “We look forward to growing this partnership and sharing more of Japan with you all,” Kaneko said.

    For her part, FVP and Credit Cards Business Head Mia P. Tamayo, reaffirmed the excitement in EastWest to officially bring the limitless potential of the partnership to fruition and realization.

    “For many Filipinos, experiencing the wonders of Japan is a dream that we want to fulfill. This partnership with JCB will definitely bring our customers to the many reasons that we are in awe and enamored with Japan,” she said.

    Tamayo also thanked this momentous partnership between EastWest and JCB. She added that the Japanese wonders of customized service, meticulous visual experience, convenience, relevance, grace and elegance are only one swipe away.

    About JCB

    JCB is a major global payment brand and a leading credit card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes about 39 million merchants around the world. JCB Cards are issued mainly in Asian countries and territories, with more than 140 million cardmembers. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase its merchant coverage and cardmember base. As a comprehensive payment solution provider, JCB commits to providing responsive and high-quality service and products to all customers worldwide. For more information, please visit: www.global.jcb/en/

    About East West Banking Corporation

    East West Banking Corporation (EastWest) is a universal bank catering to the financial needs of mid-sized businesses, consumers, and the mass affluent. Since 2012, EastWest has been trading under the symbol “EW” on the Philippine Stock Exchange. EastWest is a subsidiary of Filinvest Development Corporation (FDC), one of the country’s leading conglomerates with a diverse range of interests including real estate, banking, hospitality & tourism, power generation, and sugar. For more information, go to eastwestbanker.com.

    Contact
    Ayaka Nakajima
    Corporate Communications
    Tel: +81-3-5778-8353
    Email: jcb-pr@jcb.co.jp

  • Globe is largest PH publicly-listed telco, transforms into a digital solutions group

    Globe is largest PH publicly-listed telco, transforms into a digital solutions group

    Globe is now the largest telecommunications company in the Philippines in terms of market capitalization. Globe, with trading symbol GLO at the Philippine Stock Exchange, now has a market value of over P363 billion as of end-August trade.

    Globe’s high market capitalization shows investors’ confidence in the company’s prospects, including its strategy to invest and diversify into adjacent sectors.

    Once a telco business only, the Globe Group of Companies has expanded into various digital solutions businesses, leveraging its substantial customer base, distribution capabilities, deep market knowledge, and synergies with its strategic partners.

    Globe has successfully transformed its telco business into a technology-based solutions provider with a footprint in fintech, healthcare, entertainment, adtech, e-commerce, manpower, IT services, and venture capital.

    Likewise, Globe’s dividend payments are consistent, given its healthy operating results and cash flows. The company returns to its shareholders dividends equivalent to 60%-75% of its prior year’s core net income. Service revenue was at P37.6 billion in the second quarter, while EBITDA was at P19.1 billion. Net income and Core net income for the April to June period came in at P5.7 billion and P5.8 billion, respectively.

    “Over the years, Globe has shown remarkable growth as a result of its exemplary performance and sound management decisions. This, in turn, earned the trust of our stakeholders whose support allows us to continuously expand our businesses, offer quality products and services, and reach more customers,” said Ernest Cu, Globe President and CEO.

    To further secure its position as an industry leader, Globe continues to look for new ventures that are ready to scale. Its wholly owned corporate incubator company 917Ventures is expanding aggressively into new areas that would address various consumer pain points.

    Its recent success with the GCash e-wallet service is proof that gains from diversification can manifold at the right time.

    Thus, beyond serving the communications and connectivity requirements of its over 85 million mobile and broadband customers, Globe’s digital solutions are enabling a robust digital ecosystem for the Filipino.

    Affiliates and subsidiaries of Globe include Kickstart Ventures, Asticom Technology, Yondu, and 917Ventures which operates Mynt, KonsultaMD, HealthNow, AdSpark among others. Its other notable brands include Globe Studios, Globe Live, GOMO and TM.

  • Filinvest REIT breaches P1-B net income mark in 1H2021

    Newly listed Filinvest REIT Corp. (FILRT) posted a net income of P1.05 billion in the first half of 2021, 8 percent higher than the same period last year.

    This was on the back of revenues that reached P1.96 billion and costs and expenses that were kept at P863 million. The increase in net income was further supported by lower provisioning for taxes mainly caused by the derecognition of projects transferred to parent company, Filinvest Land, Inc. (FLI).

    “We are pleased with the results of our first-half performance considering the general economic climate. The BPO sector, which accounted for 90 percent of our tenants at the end of June 2021, remains to be resilient. We are also happy to note that we are on track to meeting our target distributable income, the basis of forthcoming quarterly dividend distributions, that we promised our potential shareholders during the initial public offering (IPO) of FILRT,” said Josephine Gotianun-Yap, chairperson of FILRT.

    FILRT made its successful debut on the Philippine Stock Exchange (PSE) on August 12, 2021 — the first REIT IPO to be issued amidst an Enhanced Community Quarantine (ECQ) that is currently enforced in the National Capital Region and nearby provinces.

    FILRT bucked the market trend by closing above its IPO price even as the PSE index fell by 1.67 percent and the property Index went down by 3.14 percent. FILRT reached a high of P7.14 before closing at P7.02 on its first trading day.

  • Filinvest REIT ₱12.6B IPO priced at ₱7.00 per share

    Filinvest REIT ₱12.6B IPO priced at ₱7.00 per share

    Filinvest REIT Corp. (FILREIT or Company, formerly Cyberzone Properties, Inc.), a real estate investment trust (REIT), today announced that it has successfully set the final offer price of the Company’s initial public offering (“IPO” or the “Offer”) at ₱7.00 per offer share.

    The price is set at the mid-point of the range, with demand driven by strong participation from domestic qualified institutional buyers and pension funds, along with international institutional and private bank participation.

    The base offer is 1,634,187,850 common shares (the “Firm Shares”), with an overallotment option of up to 163,418,785 common shares (the “Option Shares”, together with the Firm Shares, the “Offer Shares”). The Company’s IPO of the Offer Shares is expected to raise up to ₱12.6 billion in gross proceeds.

    The Offer Period will run from July 23, 2021 to August 3, 2021. The Company is expected to list and commence trading on the Philippine Stock Exchange, Inc. (the “PSE”) on August 12, 2021.

    The property portfolio of FILREIT consists of 17 Grade A office buildings on prime property totaling over 300,000 square meters of gross leasable area (GLA). The 16 buildings are located in Northgate Cyberzone within Filinvest City in Alabang while one is in the gateway of Cebu IT Park in Lahug, Cebu City.

    FILREIT has access to inorganic growth opportunities from the Sponsor’s pipeline of what the Company believes are high quality income-producing commercial assets. As of March 31, 2021, FILREIT’s sponsor, Filinvest Land, Inc. (FLI), has 14 operational office buildings and 11 more under construction located in key CBDs that may form additional pipeline acquisitions for the Company. These buildings are expected to total approximately 315,000 square meters of GLA.

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