Jollibee is newest icon for Uniqlo T-shirt

Jollibee and Fast Retailing Philippines Inc. seal their collaboration which brings the iconic and much-loved Filipino fast-food brand to the ASEAN shirt line of the Uniqlo brand. The Jollibee shirt line will be carried in Uniqlo stores in Indonesia, Malaysia, Thailand, and the Philippines.

Present during the media launch event and contract signing were (from left) Fast Retailing Philippines Co-COO Masayoshi Nakamura, and COO Katsumi Kubota, as well as Jollibee Philippines President Joseph Tanbuntiong and Vice President for Marketing Harvey Ong.

ASEAN and Suu Kyi’s deafening silence on Rohingya plight

NY Times:Rohingya migrants swam to collect food supplies dropped by a Thai Army helicopter in the Andaman Sea. Credit Christophe Archambault/Agence France-Presse — Getty Images

NY Times:Rohingya migrants swam to collect food supplies dropped by a Thai Army helicopter in the Andaman Sea. Credit Christophe Archambault/Agence France-Presse — Getty Images


Adrift in the Andaman Sea are hundreds of thousands of people in the verge of death due to hunger, thirst and victims of human cruelty.

They are the Rohingyas, a Muslim ethnic group mainly living in Myanmar. It is estimated that they number some 800,000 and comprise 80 to 90 percent of the state of Rakhine.

Boatloads of them have fled Myanmar where they are being persecuted. Myanmar does not consider them its citizens. History accounts say they migrated from Bengal during the 1700s during the British rule. Although some scholars say they are indigenous to the state of Rakhine.

BBC’s primer on Rohingya is most helpful in understanding the humanitarian crisis that the Association of Southeast Asian Nations or ASEAN is hard put to confront.

Why are they fleeing Myanmar?

The BBC primer explains that “Successive Myanmar governments have been introducing policies to repress the Rohingya since the 1960s.They argue that Rohingyas are not a genuine ethnic group but Bengali migrants who represent a divisive leftover from colonial times.

They are denied basic services and their movements are severely restricted. The repression of the Rohingyas has gradually intensified since the process of reforms introduced by President Thein Sein in 2011.

The oppression they suffer there is so severe “that they feel they have no option but to leave”, Bangkok-based Rohingya expert Chris Lewa told the BBC.

Crying out for help from the sea. BBC

Crying out for help from the sea. BBC

So inflammatory is the Rohingya issue in Myanmar that democracy icon Aung San Suu Kyi, who is now a member of the parliament after years of imprisonment, has not been heard on her views about the persecution of the Rohingyas.

What’s the attitude of ASEAN countries where the boatloads of Rohingyas have tried to seek refuge to?
From BBC’s primer:

Thailand: Its Navy says that it has given aid to migrant boats in its waters, and it has indicated that it may be prepared to allow refugee camps on its shores. But it does not want permanent settlers, and few Rohingyas want to settle in the country even if the alternative is to remain on cramped boats.

Malaysia: This is the choice of destination for most Rohingya travellers, especially because it is predominantly Muslim and short of unskilled labourers. But Malaysia has made clear that it will not accept boatloads of migrants and has ordered its navy to repel them.

Bangladesh: For the last 20 years has been subjected to an influx of Rohingyas, sometimes allowing them to live in camps on its south-eastern border and sometimes sending them back to Myanmar. It is estimated that there are currently about 200,000 Rohingyas living in refugee camps, many in squalid conditions.

Indonesia: Like Malaysia is a Muslim country and like Malaysia has made clear that the Rohingyas are not welcome, with its navy turning away boatloads of migrants. A group of migrants who made it ashore in early May may be expelled, the government has warned.

The attitude of Indonesia, Malaysia and Thailand on the Rohingya’s is appalling considering that just two weeks ago,ASEAN Leaders (including Myanmar) in their 26th summit signed a “Kuala Lumpur Declaration on a People-Oriented, People-Centred ASEAN” agreeing to do the following:

“Strengthen efforts to build a people-oriented, people-centred and socially responsible socio-cultural community with a view to achieving enduring solidarity and unity among the ASEAN peoples by instilling a shared appreciation of cultural diversity as well as promoting the well-being and welfare of the peoples;

“Promote and protect the rights of women, children, youth and elderly persons as well as those of migrant workers, indigenous peoples, persons with disabilities, ethnic minority groups, people in vulnerable situations and marginalised groups, and promote their interests and welfare in ASEAN’s future agenda including through the ASEAN Community’s Post-2015 Vision and its attendant documents;

“Alleviate poverty and narrow the development gap by increasing access to basic needs and work towards achieving adequate standards of living in line with our global commitment on poverty eradication;

“Ensure our people’s access to clean water, clean air, basic healthcare and other social services so that they may lead healthy and productive lives and thereby contribute to the ASEAN Community.”
The Philippines has not made a statement on the Rohingya’s plight.

But there is one Filipino who has stood up for the Rohinyas. Former Agrarian Reform Secretary Ernesto Garilao made a personal appeal to President Aquino in Facebook:


“Dear Mr. President, Can we not give them temporary shelter; as we did with the Jews before the war; and the Vietnamese after the Vietnam war. The more important thing is that they don’t die at sea; as they would if no one left a finger. Mr. President, if the face of the circumstance, it is the right thing to do. It is at our Asean backyard.”

Nothing has been heard from Malacañang.

We are part of the community of man. Our many problems should not be an excuse to be oblivious of what is happening beyond our shores.

Our sense of humanity is diminished if we close our eyes and pretend the Rohingya humanitarian crisis is not happening and does not concern us.

Ayala Land marks first venture in ASEAN region

Ayala Land Incorporated marked its first investment in Southeast Asia with the acquisition of a 9.16% interest in Malaysian company GW Plastics Holdings Berhad, to be renamed MCT Berhad.

Through a private placement of $43 million (P1.91 billion), Ayala Land will have one board seat in MCT.

The company is very keen on expanding within the Association of Southeast Asian Nations (ASEAN) region, which is one of the fastest growing in the world, Ayala Land President and Chief Executive Officer Bernard Vincent Dy said.

“One of those countries that is experiencing fairly good growth rates, not only this year but also in the previous two to three decades, is Malaysia,” Dy said.

By partnering with a company such as MCT Berhad, Ayala Land will be expanding its footprint in Southeast Asia in line with its diversification goals and sets the platform for growth in Malaysia.

This also allows Ayala Land to enter the Malaysian market with an experienced team; benefit from synergies of the partnership; and add value to MCT over the long-term to enable it to be a key player in the Malaysian real estate market.

“We feel Malaysia is a market that shows a lot of opportunities for us to participate in,” he added.

Setting the stage

Founded in 1999 as a construction company, MCT is a property development company specializing in mixed-use projects that include retail, office, hotel, and mid-range to affordable residential properties.

MCT, listed with under the main market of Bursa Malaysia, has several ongoing projects in One City Subang Jaya and Cyberjaya, as well as a land bank in Dengkil, 1.5 kilometers away south of Cyberjaya, all located in Malaysia’s Klang Valley region.

Apart from Malaysia, Ayala Land is also looking at investment opportunities in Vietnam, Indonesia, and Myanmar.

Meanwhile, Ayala Land Chief Finance Officer Jaime Ysmael said the company is raising P7 billion ($157.49 million) from the issuance of 7-year retail bonds by the end of April.

The property firm hired BPI Capital Corporation, PNB Capital, ChinaBank and Hongkong Shanghai Banking Corporation (HSBC) as the underwriters for the offering.

Proceeds from this fund raising activity will be used to partially finance the company’s P100 billion ($2.25 billion) planned capital spending for 2015.

 

ASEAN Sky Line

We all know ASEAN is a growing region where economic development is undergoing and producing growth and prosperity. Out of all achievements, this time we will look at the sky line of ASEAN: the tallest building of each ASEAN nations. We share the same sky, therefore the same dream. 

NOTE: There are new buildings under construction and on the verge of completion as we speak. This article is last update of December 2014. Should there be any changes in the status, we will promptly work on it. Also, some countries are very difficult to access information regarding what we are looking for. So some might have inconsistent information. Please feel free to comments. 

1. Brunei- One of the richest land in the world, Brunei has attracted millions of tourists to witness its beautiful natural and human-made resort. Particularly, its highest building is approximately 122 meter longs and gorgeously standing in Bandar Seri Begawan. Having built in 1990 and owned by the Ministry Finance, it was called The Ministry of Finance Building and Complex.
Ministry of Finance Brunei


























2. Cambodia- Having been acknowledged as one of the oldest civilization country among Asia, Cambodia is an empire full of culture and belief. In 1992, Angkor Wat Temple, the most targeted place for most tourists, has been listed in World Cultural Heritage List. It brings such a pride and happiness to all Cambodian people. Nonetheless, recently there is a huge skyscraper emerges in the heart of Phnom Penh, called Vattanac Capital which owned by Vattanac Properties Limited. Its height is about 188 meters (617 ft) which will be used for Residence, Commercial, Office Rental, and Banking.
Vattanac Capital






















3. Indonesia- A country which made up of more than 17,500 islands, Indonesia has won its fame as a heaven of sea creatures. But marine life is not the only thing Indonesia shall be remembered about. Wisma 46, the 250 meters long PT Swadharma Primautama building which was built in 1996 in Jakarta, is a great addition to the growing sky line of ASEAN. You may note that this building appears in the 2004 video game Need for Speed: Underground 2, located in Bayview City Centre. 

Wisma 46
































4. Laos- Lao, which is famed for their beautiful landscape, installed a towering figure on the bank of the Mekong River. Erected since 2004, Don Chan Palace has been recognized as the top place which bringing harmony to any visitors. 
Don Chan Palace






















5. Malaysia- Little is needed to add for this amazing masterpiece. The Petronas Tower which is located in Kuala Lumpur city, is listed as the the top Commercial building which is the busiest and highest one among all. Its 451.9 meters height just simply amuse everyone. 
Petronas Twin Tower






















6. Myanmar- Myanmar also known as Burma is a country full of Pagodas and Temples. One might think that most of its well-known place are pagodas. However if we take a deeper look at each piece of its architecture, we will surprise of its masterpieces and unique. We would never get sick of visit every of its pagodas I promise. Because they were designed in deference and apparently gorgeous. Like many other countries, Myanmar does have its notable and the highest tower in town, it was called Diamond Inya Palace. It is a kind of residential condominium which will be finished in the following year 2015. With its 127 meters, this building owned by Mandalay Golden Wing Construction Ltd in Yangon.
Diamond Inya Palace




















7. The Philippines – The Philippines, a home of a diverse range of birds, plants, animals and sea creatures has earned so much attention from other people. It is a must stop-by place for whom enjoy travelling in the natural land. Whereas talking about a human-made attractive place there, PBCom Tower, a 259 meters long with antenna has been listed as the tallest building among many other stylist building in Manila even it was erected since 2010. 
PBCom Tower

























8. Singapore – The smallest and the most modern one in ASIA, Singapore has been earning respect and admiring from various countries even from the West. In such a short period of time, it has developed itself to become one of strongest countries in trade and economic. Due to its limited space, you would barely see a small building besides a resident one. But, what is more special about Singapore is that currently there are 3 buildings considered the highest one. They are: Republic Plaza (completed 1995), One Raffle Place - Tower Two (1986) and United Overseas Bank (UOB) Plaza One (1986), all are 280 meters long.
One Raffle Place
Republic Plaza









UOB Plaza One

9. Thailand – Thailand, with Its countless and wonderful natural resorts, its extraordinary services just make every tourists cannot help but note it as a relaxing place for summer vocation or after retirement. Moreover, its usage of technology is just more than expected. They have so many skyscrapers, modern way of transportation and many other means. Ever since 1997, its tallest tower has been built as Baiyoke Tower II within 304 meters in Bangkok.
Baiyoke Tower II
































10. Vietnam – Being known through its delicious snacks and foods, Vietnam rarely fail to fulfill its visitor desire. Sometime you don’t need to go to a market by just standing in front of your hotel or walking in the street, you would see tremendous kinds of snacks is being sold in everywhere. However, besides food, there are many things which adored by tourists. In 2011, the highest tower “Landmark 72” which is owned by Keangnam Enterprise, has charmed so many people by its great service in Hotel, office, serviced residences, retail and observatory in Hanoi. 
Landmark 72 Tower

























Article by: Dara Ratanakraksmey 
Prepared by: Chhaly Samsokrith

Standard & Poor’s Assigns ‘BB+’ Long-Term Issuer Credit Rating to Security Bank

Credit rating agency Standard & Poor’s released yesterday its ‘BB+’ long-term issuer credit rating for Security Bank Corporation. The outlook on the long-term rating is stable. Standard & Poor’s also assigned a ‘axBBB’ long-term and ‘axA-3′ short-term ASEAN regional scale ratings and a ‘B’ short-term issuer rating to Security Bank.

Standard & Poor’s based its ‘BB+’ rating on Security Bank’s business position, capital and earnings, risk position, funding, and liquidity metrics, using Standard & Poor’s criteria. The stand-alone credit profile of Security Bank is ‘bb+’.

In Standard & Poor’s Research Update dated October 27, 2014 which documented its credit assessment and rating on Security Bank, the rating agency stated that it views “Security Bank’s business position to be adequate in view of its status as a mid-sized bank with stable revenue streams from its traditional focus on the small and medium-sized enterprise (SME) and corporate segments. The bank has a proven management team, which contributes to its superior operating efficiency and asset quality compared with peers’.”

Standard & Poor’s further stated that it views “Security Bank’s management and strategy to be proactive and prudent, and this should continue to support an operating performance that is above the industry average. The bank’s return on equity (ROE) averaged 19.7% from 2010 to June 2014, compared with the industry’s 12.2%.”

On capital and earnings, the rating agency stated that it expects Security Bank’s risk-adjusted capital (RAC) ratio to be 7%-8% in the next one to two years, based on the rating agency’s formula. This is based on Standard & Poor’s expectation that the bank may sustain its capitalization by maintaining above-average earning capacity and prudent capital policy.

Standard & Poor’s further stated that “Security Bank’s operating performance is better than peers’ partly due to its cost efficiency. The bank averaged a cost-income ratio of 43% from 2010 to June 2014, and this was significantly lower than the industry average of 64%.”

On Security Bank’s risk position, the credit rating agency stated that “The strong risk position assessment for Security Bank reflects our view of the bank’s superior underwriting risk control with more prudent risk appetite compared with industry peers’, as well as the bank’s proven track record in its core corporate lending business. These strengths result in consistently above-average asset quality and lower credit costs than peers’.”

Standard & Poor’s added that “the bank’s ratio of non-performing assets (including restructured loans and Real and Other Properties Acquired) was about 2.1% at the end of 2013, which is significantly lower than the industry average of 5%-6%. The average net provision cost over the past five years was less than 10 basis points (bps), which is significantly lower than the industry average of 50bps-60bps.”

On funding and liquidity, the rating agency stated that “Security Bank’s funding profile is likely to remain average and its liquidity should remain adequate over the next two years because we expect the bank’s expansion of its branch network will help the bank to secure more stable deposit funding.”

The stable outlook on the long-term rating reflects Standard & Poor’s view that Security Bank will maintain its superior asset quality to peers’ and adequate capitalization and that its funding profile should gradually improve over the next 12-18 months.

Standard & Poor’s and its predecessor organizations have been in business for more than 150 years and is one of the world’s leading providers of independent credit risk research. In May this year, Standard & Poor’s upgraded the long-term sovereign credit rating of the Republic of the Philippines to ‘BBB’ from ‘BBB-‘.