HEADLINES

Sa sunod-sunod na oil price hike, napakalaking tulong ng fuel subsidy program para sa mga tsuper at operator ng public utility vehicles (PUVs). Kadalasang umaabot ng tatlong buwan ang kabuuang proseso nito, pero kamakailan lang, inatasan ni Pangulong Ferdinand ‘Bongbong’ Marcos Jr. ang Department of Energy (DOE) na simula sa susunod na taon, dapat pabilisin ng isang buwan ang pamamahagi ng fuel subsidy para sa transport sector. Suportado naman ng netizens ang direktibang ito ng Pangulo.

Ayon kay Energy Secretary Raphel Lotilla, inaabot ng tatlong buwan ang pamamahagi ng fuel subsidy dahil kinakailangan pang pagsama-samahin ng Department of Transportation (DOTr) ang listahan mula sa Land Transportation Franchising ang Regulatory Board (LTFRB), Department of Interior and Local Government (DILG), at Department of Trade and Industry (DTI).

Nais itong pabilisin ni Pangulong Marcos Jr. sa pamamagitan ng pagpapasimple ng requirements para sa fuel subsidy. Dahil sa utos na ito, mas mabilis na mapakikinabangan ng mga benepisyaryong apektado ng tumataas na presyo ng produktong petrolyo ang ibabahaging ayuda ng gobyerno.

Sa pagpapasimple ng release requirements para sa fuel subsidy program, Department of Budget and Management (DBM), DOTr, at DOE na lang ang kailangang mag-apruba ng guidelines para sa nasabing programa. DOTr ang magiging responsable sa beneficiaries na nasa ilalim ng franchise; DILG naman para sa tricycle drivers; at DTI para sa delivery service drivers.

Sa ilalim ng fuel subsidy program, mabibigyan ng 10,000 pesos ang bawat driver ng modernized PUVs; 6,500 pesos naman para sa traditional PUVs; 1,200 pesos para sa delivery riders; at 1,000 pesos para sa tricycle drivers.

Napakalaking tulong ng PUV drivers sa pang araw-araw nating buhay. Dahil sa kanila, ligtas tayong nakakapunta sa iba’t ibang lugar at nakakauwi sa ating pinanggalingan. Talaga namang masasabing napakahalagang tungkulin ang ginagampanan nila para sa ating mga Pilipino. Sa pagpapabilis ni Pangulong Marcos Jr. sa pamimigay ng tulong sa ating mga tsuper at operators, masisiguro nitong magiging tuloy-tuloy ang kanilang serbisyo para sa bayan.

The Figaro Coffee Group, one of the Philippines’ leading and beloved food and beverage conglomerates, hosted a remarkable press conference at the Edsa Shangri-La Mandaluyong. This exclusive event, titled “2023 Business Performance and Beyond,” was graced by the top management of the Figaro Coffee Group, including Mr. Justin Liu, Chairman; Ms. Divine Cabuloy, CEO/President; Mr. Mike Barret, COO/EVP; and Mr. Petronio Español III, CFO.

Strategic Expansion

A major highlight of the conference was the exciting update on the expansion of Figaro Coffee Group’s portfolio of brands. As of 2023, the group operates 60 Figaro Coffee stores, 116 Angel’s Pizza outlets, 10 Tien Ma’s locations, and 6 Café Portofino establishments, a total of 192 stores. Moreover, the Figaro Coffee Group has set its sights on new horizons, with upcoming store openings in Laguna, Pampanga, Rizal, Cebu, Pangasinan, Bohol, Ormoc, and Davao for the remainder of 2023.

Financial Milestones

The Figaro Coffee Group’s financial performance for the year ending June 30, 2023, showcased impressive growth and resilience. Revenues surged by a remarkable 75%, primarily attributed to the extensive expansion and opening of 44 new stores during the period, bringing the total number of stores to 167. This expansion was complemented by a 6% increase in same-store sales compared to the previous year, driving total revenues to a substantial P4.28 billion, up from P2.44 billion in the same period the year before.

The group encountered a slight decline in gross margin, dropping from 49% to 45% in June 2023. This was largely due to global inflation affecting major raw materials, particularly within Angel’s Pizza. However, this was mitigated by careful management of overhead costs, maintaining operating expenses at 31.7% of sales, a notable improvement from the 38.8% ratio from the same period the previous year.

Despite these challenges, net income after tax witnessed an extraordinary 133% increase, soaring to P462.6 million from P198.2 million, driven by increased volumes and efficient cost management.

The Figaro Coffee Group also made substantial strides in improving its cash flow and financial position. An infusion of P820 million from Monde Nissin, along with funds from the IPO proceeds of the previous year, bolstered assets from P1.8 billion to P3.2 billion by the end of June 30, 2023. The current ratio improved to 374% from the previous year’s 319%, and debt to equity was impressively maintained at 1%. Return on equity more than doubled from 8% the previous year to 17% by June 30, 2023, despite the infusion of new investors.

The Figaro Coffee Group remains firmly poised for growth in the coming years, with ample funding for capital expenditure requirements, strong margins, and positive projections in terms of transaction counts and same-store sales percentage.

Innovations at Angel’s Pizza

Angel’s Pizza, the strongest brand under the Figaro Coffee Group umbrella, introduced a series of exciting developments in 2023. Notable highlights include the launch of the Angel’s Pizza App, featuring ordering and payments system in an easy-to-use and friendly interface. Additionally, the introduction of the “Creamy Spinach Sushi Bake Pizza” has captured the taste buds of customers, becoming the second best-selling pizza, just behind the iconic “Creamy Spinach Dip Pizza.”

Angel’s Pizza also embarked on a spirited journey with the Angel’s Pizza Caravan, delighting customers with activities such as motorcades, drum and lyre performances, and fan photo operations. Furthermore, the brand introduced delectable new items to its menu such as Palabok Special, Chicken Fingers, Banana Langka Pie, Ube Macapuno Pie, Saba Con Yelo and Triple Chocolate Cake.

New Offerings

In the world of Figaro Coffee, 2023 saw the introduction of new items: the Roasted Almond Oatmilk Latte, its Piña Colada Cake and keto selections in selected stores. Meanwhile, Tien Ma’s presented three new offerings to its patrons: the Honey Walnut Chicken, Spinach Soup, and General Tso’s Chicken.

“Sama Sama Sa Angel’s Pizza” Jingle and Video Launch

The press conference concluded with the much-anticipated launch of the Angel’s Pizza jingle and video, titled “Sama Sama Sa Angel’s Pizza,” which aims to capture the hearts and minds of customers and solidify the brand’s place in the Philippines’ culinary landscape.

SM Supermalls President Steven Tan was recognized as one of Winshang’s Golden Censer Prize winners for being ‘The International Influential Person of the Year 2023 in Shopping Centers’ at the 2023 China (International) Shopping Center Summit in Shanghai on August 24.

The Golden Censer Prize is a large-scale professional recognition of China’s commercial real estate and famous brands initiated by Winshang, in collaboration with mainstream industrial media, based on field research, data analysis, and media surveys among others. 

Tan, who assumed the role of President of SM Supermalls in 2020, has been a key figure in the growth and innovation of the mall chain in the Philippines and China. As President, he oversees mall operations in both countries, carrying forward SM’s 65-year legacy of retail innovation and outstanding customer service.

Under his leadership, SM Supermalls withstood the challenges of the pandemic and rebounded as the economy slowly opened up amid the global health crisis. With the guidance of the Sy family, Tan made sure that SM responded with an agile, innovative, and proactive approach to cater to the needs of all stakeholders, from employees and tenants to shoppers.

SM Mall of Asia Complex

The mall’s strategies– adapting the tenancy mix, creating novel reasons to attract visitors to malls, targeting new customer segments through innovative marketing, and developing omnichannel services– enabled them to gain the trust and loyalty of modern shoppers during the pandemic.

SM City Yangzhou

SM City Sto. Tomas

Because of this, SM managed to recover and exceed pre-pandemic revenues and income by 2023. In line with their latest expansion program, SM continues to open new malls in China and the Philippines. This brings the total number of shopping centers, locally and internationally, under Tan’s stewardship to 93, featuring a cumulative construction area of over 10.8 million square meters and a daily foot traffic of more than 4.2 million. The latest malls to open were SM City Yangzhou last September 28, 2023 and SM City Sto Tomas, Batangas last October 27, 2023.

Steven Tan receives the 2023 PeopleAsia People of the Year Award

Tan’s exceptional efforts were also honored by various international organizations over the years. He received numerous accolades including the 2021 Asia’s Most Influential by Tatler Asia, the 2022 Asia Pacific Women’s Empowerment Principles (WEPs) Awards Leadership Commitment by United Nations (UN) Women, and the Global Filipino Executive of the Year at the Asian Chief Executive Officer (CEO) Awards just to name a few. His dedication and visionary leadership continue to shape the landscape of shopping centers and commercial real estate, not just in Asia but across the globe.

Tan, shared the Winshang Golden Censer Prize with his two co-awardees namely Powerlong Real Estate Holding’s Co-President, Chen Deli, and SCE Commercial Management Holding’s Chairman of the Board, Huang Lun.

SM Supermalls is a subsidiary of SM Prime Holdings Inc., with 85 malls in the Philippines and 8 in China. 

To know more about SM Supermalls, visit www.smsupermalls.com and follow @SMSupermalls on social media.