INFOGRAPHICS by Cong B. Corrales
Click on the infographics below to read our 2012 article, “The Hidden Costs of War in Mindanao.”
INFOGRAPHICS by Cong B. Corrales
Day: March 21, 2015
Metrobank reports 2014 Net Income of P20.1 billion
Metropolitan Bank & Trust Company (Metrobank) reported consolidated net income of P20.1 billion in 2014, with P7.0 billion income recognized in the fourth quarter. Total resources hit a new high of P1.6 trillion, up 16% from last year’s P1.4 trillion.
Net interest income (NII) increased 20% to P45.8 billion and contributed 61% of the Bank’s total operating income compared to 48% in 2013. The strong performance in the Bank’s core business was driven by robust growth in loans and deposits, and relatively stable spreads amidst the low interest rate environment and tough competition.
Metrobank’s recent investments in its branch network, coverage expansion, and internal system enhancements were catalysts for its sustained balance sheet growth. Deposits increased by 17% to P1.2 trillion, providing the Bank with stable low cost funding to fuel its healthy loan expansion. Building on the momentum from previous quarters, loans and receivables further accelerated to close the year at P759.5 billion or 24% growth with the commercial segment posting the strongest year-on-year increase.
Meanwhile, non-interest income was reported at P29.6 billion, consisting of P8.9 billion in service charges and commissions, P3.2 billion from trading and forex gains, and miscellaneous income of P17.5 billion. Miscellaneous income included the sale of non-core assets as well as foreclosed properties.
With the Bank’s focus on improving efficiency, operating expenses were kept at a reasonable level with recurring cost growth under 6%.
Asset quality continues to improve with non-performing loans (NPL) ratio dropping to a low of 1.0%, while NPL coverage increased to 165%. The Bank reported provisions for credit and impairment losses of P4.8 billion.
Last year, Metrobank opened 64 branches to increase its domestic presence to 920 branches, still the largest in the industry. More than half of the network is located outside Metro Manila placing the Bank in a position to better service the demands of the regional growth areas of the economy. This network advantage is supplemented by 2,100 ATMs nationwide.
Under Basel III, the Bank’s total capital adequacy ratio (CAR) remained well above the regulatory limit at 16.0%, with Common Equity Tier 1 (CET1) at 12.1%.
Metrobank recently announced that it obtained Board approval for a Stock Rights Offer (SRO) of up to P32 billion. Timing of the transaction is subject to receipt of regulatory approvals as well as market and other conditions. The SRO is expected to support the Bank’s accelerating growth momentum and to further enhance its capital ratios.
Petron posts better-than-expected income in 2014, sales volumes surge 6%
Amid the collapse of crude and finished product prices in the 2nd half of 2014, the Philippines’ leading oil company Petron Corporation posted a better-than-expected consolidated income of P3 billion for the year, lower than the previous year’s P5.1 billion. This would have been much higher if not for the net inventory loss of P6.5 billion.
The Company said that the 9% increase in Philippine sales volumes, the completion of strategic projects, and pro-active risk-management cushioned the impact of higher priced inventory being sold at lower prices in the 2nd half of the year. The price of benchmark Dubai crude fell by 44% from an average of US$108/barrel in June to an average of only US$60/barrel in December. This extraordinary development had a negative effect on oil companies around the world. The same situation happened in 2008 when global oil prices collapsed resulting in a P3.9 billion loss for Petron.
Petron said that combined sales from both its Philippine and Malaysian operations increased by 6% to 86.5 million barrels in 2014 versus 81.7 million barrels the previous year. As a result, sales revenues grew by 4% to P482.5 billion in 2014 from P463.6 billion in 2013. In its home market, sales volumes surged to 51.5 million barrels as Petron made headway in major market segments namely Retail, LPG, and Lubricants. Backed by the most extensive network in the country with 2,200 stations, retail volumes surged by 6% – the highest growth in the past 5 years. LPG volumes likewise grew by 5% supported by higher retail and industrial sales.
“Despite a difficult environment, we rose to the challenge and delivered strong results. We focused on completing major projects to unleash the full potential of our strategic assets and further cement our leadership in the industry,” Petron President and CEO Ramon S. Ang said.
Petron is commissioning its US$2-billion Refinery Master Plan Phase 2 (RMP-2) at its 180,000 barrel-per-day Bataan refinery. RMP-2 is expected to change the rules of the domestic oil industry. Petron will be the only company that can locally produce Euro-4 compliant fuels and provide extra volumes to other oil players. It also gives Petron a competitive edge since it raises the bar in fuels technology and quality. This project will help improve the supply security of the country at a time the Philippines is experiencing unprecedented economic growth.
Barely three years since entering the highly-competitive Malaysian market, nearly 550 stations now carry Petron’s distinct red and blue colors, have upgraded facilities, and more importantly, offer premium fuels and innovative services. The Company completed 10 new service stations in 2014 and about 20 more sites are in various stages of construction and commissioning.
“The completion of our rebranding and upgrading program is a significant milestone since it lays the foundation for our further expansion in the Malaysian market. We are pleased to note that we are gaining the trust and confidence of consumers there,” Mr. Ang added.
Mitsubishi Motors Philippines unveils the All-new Strada
Mitsubishi Motors Philippines Corp. (MMPC) brings more excitement to the pickup segment as it unveils the all-new Mitsubishi Strada. This 5th generation model is engineered as a sport utility truck combining the functionality of a pickup truck, comfort of a passenger car and amenities of a Sport Utility Vehicle (SUV).
After its grand launch in Thailand last year, the Philippines is the second country to release the 5th generation Strada. It will also be introduced in the ASEAN, Oceania, Middle East, Europe, Africa, Latin America and will soon be exported to 150 countries. The all-new Strada is manufactured by Mitsubishi Motors Thailand.
Beyond its new look, the improvements on the performance and other features of the All-new Strada are easily noticeable. In the Philippines, the all-new Strada will be available in 6 variants, two wheel drive (2WD): GL 4×2 base model Manual Transmission (MT), GLX 4×2 MT, GLX V 4×2 Automatic Transmission (AT) and four wheel drive (4WD): GL 4×4 base model MT, GLS V 4×4 MT and GLS Sport V 4×4 AT.
At the heart of the Variable Geometry Turbocharged (VGT) variants is a 2.5 Liter 4 In-Line 16-Valve DOHC Turbocharged (VGT) and Intercooled Common Rail Direct Injection Diesel (4D56). Thanks to this reliable engine which creates a maximum power of 178Ps/4,000rpm and an improved torque of 400N-m/2,000rpm. The top of the line GLS Sport V is equipped with an electronic dial of the Super Select 4WD-II.
The exterior of the all-new Strada gets more refinement as it flaunts a dynamic and yet sophisticated stance. The front bumper evokes strong curves with the lines appearing to flow smoothly from the three-diamond logo in the grille to the headlamps. The improved bumper design also directs water spray outward rather than the windshield, avoiding blinding situation when driving at cruising speed through puddles.
The distinctive “J-line” provides a clever engineering design to shorten wheel base and maximize the interior space. Its wheelbase of 3,000mm, front tread of 1,520mm and rear tread of 1,515mm are set to improve both handling stability and riding comfort. These tread dimensions also provide increase in maximum steering angle that permits a class-smallest minimum turning radius of 5.9m.
The all-new Strada now comes in an array of exterior color to choose from which will perfectly match your taste. Nine available colors are Quartz Brown Metallic, Impulse Blue Metallic, Earth Green Metallic, Rosita Red, Virgil Gray, Sterling Silver Metallic, Polar White, Savanna White and Pyrenese Black.
Inside the Strada is a two-tone Black/Gray with Piano Black and Silver accent center instrument panel for a more stylish and neat impression. Essential information that every driver would want to know comes in a handy and accessible feature with the touchscreen Multi-media system with dealer option GPS Navigation, Tire Pressure Monitoring System and Reverse camera display. The Multi-media system’s versatility in function for any media you use, at the same time can be linked with any android or i-devices ensuring pleasurable drive in every travel.
The all-new Strada’s interior offers ample space and comfort for every occupant. Compared to its predecessor, the Strada’s interior length grew by 20mm as it boasts of a 1,745mm legroom, which is the most spacious in its class. The seats of the all-new Strada use wider and longer seat cushions and backrest to provide better support to its occupants.
With its predecessor known for being the safest pickup, the all-new Strada uses the same Mitsubishi’s exclusive Reinforced Impact Safety Evolution (RISE) body. The RISE body construction incorporates front and rear crumple zones with reinforced beams to absorb collision force and direct it away from the vehicle’s interior. The engine and drive components also absorb energy, preventing further damage from reaching the cabin. Aside from the RISE body, the Strada has dual-stage front SRS Airbags and seat belt pre-tensioners that react instantaneously in the event of a frontal collision and these greatly reduces the chance of passengers being slumped into the steering wheel or dashboard.
Honda provides road assistance to motorists during Holy Week
In their continuous effort to provide utmost customer service, Honda Cars Philippines, Inc. (HCPI) together with its dealership network nationwide will set-up its annual Honda Emergency Assistance Team (HEAT) to provide on-site road assistance at different locations nationwide from April 2 to 5, 2015 (except April 3, Good Friday).
Regardless of the vehicle brand, Honda invites all motorists to drop by any of the identified authorized dealerships or off-site HEAT service booths to have their vehicles checked prior or during travel. Customers may avail of any of the following:
• FREE Emergency Assistance
• FREE Honda Diagnostic Check-up
• FREE 25 – Point Safety Check-up
• Travel Advisories
And Other Services such as:
• Preventive Maintenance Service
• Light to Medium Repair, and
• Sale of Honda Genuine Parts
Moreover, a roving team will check around the road conditions and offer services if necessary. Motorists may contact them at the following hotline numbers: 0917-5721486, 0917-5735860 and 0917-5735853. HEAT schedule on April 2 and 4 will be from 8am to 5pm and April 5 from 8am to 12nn.
Since 1993, HEAT has been providing customers with quality services during the Lenten Season wherever that may go.
H.E.A.T. is made possible in cooperation with Idemitsu, Emicor, DENSO, Oriental & Motolite Marketing Corp, Bridgestone, Yokohama, Kenwood and SAVI.