South Summit Madrid 2026, co-organized by IE University, said in a statement on May 19 that 50 of the 100 finalist startups use artificial intelligence as the core technology behind their businesses, reflecting the growing role of AI in the global entrepreneurial ecosystem.

The finalists were selected from more than 4,500 applications across 110 countries, with startups from 26 nations making the final list, up from 22 countries last year. Organizers described the competition as their 鈥渕ost international, mature, and AI-driven鈥� edition to date.

Singapore secured three finalist spots, while South Korea also had one finalist startup in the competition. Singapore-based finalists included OmniShelf in Digital & Tech Solutions, Ailytics in Industry 5.0, and cybersecurity firm Peris.ai in Trust Tech & Data. South Korea鈥檚 HISTRANGER was shortlisted under Digital & Tech Solutions.

Europe accounted for nearly 77% of the finalist startups, while the United States represented 6% of the total. Latin America also expanded its presence in the competition, increasing to 10 finalists from seven last year.

Spain contributed the largest number of finalists with 44 startups, followed by Portugal with seven and the United States with six. France had five finalists, while Italy and the United Kingdom had four each.

The competition also reflected the increasing maturity of startups globally. Organizers said 57% of finalists generate more than $150,000 in revenue, while 35% generate over $500,000 annually. About 60% have raised more than $1 million in funding, and 53% are already backed by venture capital firms.

Among the selected startups, 36 are already in the scaleup stage, while 46 have registered at least one patent. In addition, 38 startups have at least one female founder.

The finalists were grouped across 10 sectors, including climate technology, fintech, healthcare, mobility, enterprise solutions, and trust technology.

Finalists in the Climate Tech & Sustainability category included EarthScan, Green Growth, MESPAC, NPHarvest, Ocean Oasis, Phen Olives, PowerUP, Ravenwits, Solfium, and UniSCool.

Consumer finalists included Ciudadela, Fibrazo, FindNido, FoodieFame, iCook, Macadam, Manie, Ochy, Qualla, and Tangy Market.

In Digital & Tech Solutions, finalists included Arq Quantum Technologies, Astroteq.ai, HISTRANGER, Lokutor, LunaLift, Oasy, OmniShelf, Spendbase, tranSkriptorium AI, and Ubicuity.

The Fintech & Insurtech category featured Brokerware AI, CryptoMate, Dalatea, Dost, EthicHub, Granter, Initiativ, PagaFactu, Paynest, and VENDY.

Future of Work & Talent finalists included Kincode AI, Diingu, Nova, OneNewOne, Sendsteps AI, Space To Grow, Stemdo, Trainect, Valeria, and Worksible.

Health category finalists included 60Nd, Altum Sequency, FLOMICS, iYoni App, MedicubeX, Miramoon, Moonlight AI, Nanogrow Biotech, PREDICTHEON, and Tissue Dynamics.

Industry 5.0 finalists included A4Radar Vitals, Ailytics, Ainwater, Dairy Tech, Dottir Labs, Floatech, Mapsi, NanoChronia, URAPHEX, and Xplorobot.

In Mobility & Smart Cities, finalists included boxful, DeepNeurotic, DeterCamAI, Mettis AI, Mobi, Nido Constructech, Serp Energy, UP鈥橭NE, Xplora Srl, and ZYON Helmets.

Trust Tech & Data finalists included Captain Compliance, Coalex.ai, Judit, Metadataworks Limited, MicelioData, Naltilia, Peris.ai, Riskita, Secrets Vault, and simplyblock.

Enterprise Solutions finalists included anyformat, Dealcar, KonvoAI, Libertify, LoopOS, Service Club, Silmaril Technologies, SmarterMRP, Soource, and Wise CX.

South Summit Madrid 2026 will be held from June 3 to 5 at La Nave in Madrid, where finalists will present their projects to investors, corporations, and technology companies.

Organizers said startups that previously participated in the competition have collectively raised more than $20.5 billion in investment over the past 14 editions. 鈥� Arjay L. Balinbin

The three-day event, scheduled for June 3-5 at La Nave in Madrid, is co-organized by IE University and will focus on 鈥淎I Convergence,鈥� highlighting how AI is reshaping industries, venture capital, productivity and business models.

Nearly 30 unicorn companies are expected to participate, according to organizers.

South Summit described itself as a global platform that connects startups, investors, corporations and institutions to promote business opportunities within the innovation ecosystem.

Organizers said the event has gathered more than 42,500 startups over the past 14 editions, while its Startup Competition has produced more than 1,500 finalist startups with an 85% survival rate and more than $20.5 billion in investment raised.

South Summit said AI accounted for 61% of global venture capital investment in 2025, up from 30% in 2022, reflecting what it described as an 鈥渁ccelerated shift in the priorities of investors, startups, corporations and institutions.鈥�

鈥�Artificial Intelligence is no longer just a technology: it is a force that is redefining how we invest, how we build companies, how we compete and how we think about the future of Europe,鈥� South Summit founder and President Mar铆a Benjumea said in a statement.

Organizers said the conference will examine AI鈥檚 impact on investment, entrepreneurship, defense, sustainability, regulation and productivity amid increasing global competition over technological development and innovation.

The event will also feature a 鈥淒efense & AI鈥� track involving NATO innovation leaders through its DIANA defense accelerator program, alongside startups and investors working on cybersecurity, autonomous systems, infrastructure protection and dual-use technologies.

South Summit said the focus on defense technology reflects Europe鈥檚 efforts to strengthen technological sovereignty and reduce dependence on foreign technologies in critical sectors.

Juan Jos茅 G眉emes, vice president of IE University, said the event would once again position Madrid 鈥渁s the world capital of entrepreneurship and innovation.鈥�

鈥�For our institution, as co-organizers, it is a pride to promote a meeting that reflects our strategic commitment to Artificial Intelligence as a driver of transformation, and our entrepreneurial DNA,鈥� he said.

Jes煤s Herrero, chief executive officer of Red.es, said AI has 鈥渞edefined the competitiveness of countries and the ability of our companies to innovate.鈥�

鈥�To lead this transformation, we must train, attract and retain talent, but also bet on entrepreneurship as a key lever to promote a more ambitious ecosystem,鈥� he said.

Confirmed speakers include GoogleX founder Sebastian Thrun, investor Kim Perell and Female Invest co-founder Anna Hartvigsen.

South Summit and PwC also released a report ahead of the conference discussing AI鈥檚 growing role in venture capital and startup ecosystems, particularly in healthcare and defense.

South Summit has also expanded its presence in Latin America, holding events in Mexico, Colombia, Peru, Chile, Argentina and Brazil.

Organizers said the 2026 Brazil edition drew more than 24,000 attendees from 70 countries, alongside 3,000 startups and more than 1,000 investors managing a combined 鈧�250 billion investment portfolio. 鈥� Arjay L. Balinbin

In a statement on Monday, the Gokongwei-led developer said it received the 3G ESG Championship Award (Philippines) and the 3G Excellence in Green Innovation and Solutions Award during ceremonies held in Singapore on April 28.

The awards, organized by UK-based Cambridge IFA, assess organizations based on transparency, sustainability, and social responsibility.

RLC said the recognition reflects its sustainability initiatives across its property portfolio, including the use of rooftop solar panels in malls, energy efficiency measures, and renewable energy adoption in office buildings.

The company also cited waste and water management programs, as well as efforts to secure green building certifications.

On the social front, RLC said its programs are implemented through its foundation, which partners with local governments and organizations for reforestation, scholarships, medical missions, and disaster response.

The latest awards mark the company鈥檚 fourth consecutive year of recognition from the 3G Awards program. 鈥� ALB

The project, located along Mirasol Street in Barangay San Roque, is designed to attract homebuyers seeking proximity to key establishments and daily conveniences, RLC Residences said in a media release on Thursday.

The company said accessibility remains a primary consideration for buyers, noting that proximity to workplaces, schools and commercial establishments is a key factor in residential decisions.

It added that reduced commuting time is increasingly becoming a priority for urban residents.

MIRA is being offered as a pre-selling condominium development, with completion targeted by 2030.

The development is located near key commercial and transport hubs in Quezon City. These include Ali Mall (about 200 meters), SM Cubao (1.2 kilometers), and the Araneta City Bus Port (around 900 meters), as well as rail links such as LRT-2 Cubao (1.4 kilometers) and MRT-3 Cubao.

It is also situated near major educational and medical institutions, including the Technological Institute of the Philippines (about 200 meters), Ateneo de Manila University (2.4 kilometers), University of the Philippines Diliman (5.6 kilometers), and World Citi Medical Center (800 meters).

The project is expected to benefit from upcoming infrastructure developments such as the MRT-7, which is expected to be operational by 2027, and the Metro Manila Subway, targeted for completion by 2032, which are seen to improve connectivity in the area.

RLC Residences said Quezon City remains attractive to both end-users and investors due to its central location and access to multiple business districts.

The developer also cited sustained rental demand in the area, particularly for residential units located near schools, universities and commercial establishments, making such properties viable for leasing.

鈥淥ur primary goal is to have the unit rented out鈥� We鈥檙e looking for something that can appreciate and eventually become a source of passive income,鈥� Patty Yu, who purchased a unit at MIRA with her husband, was quoted as saying in the press release.

Colliers Philippines has cited Quezon City鈥檚 strong economic fundamentals and enterprise base as supporting long-term residential demand. 鈥� ALB

In a statement on Wednesday, the state-run retailer said it will offer complimentary shuttle rides for passengers arriving at Ninoy Aquino International Airport (NAIA) Terminals 1, 2, and 3 to its Luxe Duty Free store in the SM Mall of Asia (MOA) Complex in Pasay City.

鈥淚n partnership with the Department of Tourism (DoT) and Love PH, DFPC will also roll out a hop-on, hop-off shuttle service for arriving passengers鈥� expanding access to duty-free shopping beyond airport terminals,鈥� the company said.

DFPC said it is pursuing expansion plans in key airport locations, including larger retail spaces and upgraded store formats.

The company said these initiatives form part of its modernization efforts, which include expanding its presence within international airports and upgrading its retail network.

As part of its anniversary campaign, DFPC said it is offering discounts of up to 30% on selected items from May 1 to 3 at its Luxe Duty Free store, with promotions to be extended across airport stores nationwide from May 22 to 31.

鈥淔or nearly four decades, our focus has remained the same 鈥� delivering quality service and real value to every Filipino traveler,鈥� DFPC leadership said.

DFPC is an attached agency of the Department of Tourism. 鈥� ALB

In its first-quarter market report, LPC said 鈥�64% of hotels report significant to severe operational impact from the energy crisis.鈥�

LPC Director of Hotels, Tourism, and Leisure Alfred Lay said the industry is entering a more difficult period as cost pressures intensify.

鈥淧hilippine hotels are entering their most challenging period since the pandemic. Occupancy is expected to fall sharply in April and May as the fuel crisis drives up airfares, dampens traveler confidence, and squeezes household budgets,鈥� he said in a statement.

Early 2026 tourism data showed modest growth, although underlying demand remains uneven. Foreign tourist arrivals reached 1.32 million in January and February, up 3.09% from a year earlier, according to LPC.

Long-haul markets expanded 9.7%, led by the United States, Canada, Australia, the United Kingdom, and France. Short-haul markets grew at a slower 3.4%, with gains from Taiwan and Japan partly offset by declines in South Korea and China. LPC said a recovery in Chinese arrivals is expected by the third quarter, supported by the expansion of e-visas.

However, rising costs are beginning to alter travel behavior. The report said tourists are expected to take fewer trips, shorten their stays, and shift to cheaper and shorter routes, while booking patterns are reverting to pandemic-era practices.

Occupancy levels showed limited improvement last year. 鈥淗otel occupancy in 2025 remained at 60%, flat year on year, and still below the 68% recorded in 2019,鈥� LPC said.

Performance across destinations remained uneven. 鈥淐ebu/Mactan held ADR (average daily rate) but struggled to fill rooms, with occupancy sliding to 54%,鈥� the report said.

Industry conditions have become more challenging in early 2026 as higher fuel costs drive up travel expenses and weigh on demand.

鈥淛et fuel costs doubled within three weeks, leading to airfare increases of 25% to 50% for long-haul routes, and destination transport costs rising by 20% to 30%,鈥� LPC said.

Hotels are already seeing the effects on bookings, with declines in occupancy already underway or expected in the coming months.

LPC noted that 鈥�80% of hotels already feeling occupancy declines.鈥�

The meetings, incentives, conferences, and exhibitions (MICE) segment is also under pressure, which may further affect hotel revenues.

It said that 鈥�650 in-person ASEAN meetings are expected to be canceled, dampening room and event revenues.鈥�

Mr. Lay said the outlook remains uncertain as both international and domestic demand face pressure.

鈥淲ith international arrivals under threat and domestic spending softening, the industry is bracing for a difficult second half of the year, and the outlook beyond that depends entirely on how quickly the Hormuz crisis resolves,鈥� he added.

In response, hotel operators are adjusting strategies to manage revenues and costs.

LPC said that 鈥�30% of hotels are offering value-added packages instead of direct discounting, while 28% are choosing to hold rates and absorb the occupancy drop.鈥�

The report also noted that some operators are reducing rates to defend occupancy.

The outlook for the sector remains uncertain and depends on how long external pressures persist.

鈥淚n a prolonged conflict scenario, national occupancy could drop below 45%, potentially making a majority of hotels loss-making in 2026,鈥� LPC said.

Under a more moderate scenario, national occupancy is expected to fall between 45% and 50%, while a favorable outcome could see occupancy recover to 50% to 55%, the report said.

Domestic tourism is expected to provide some support as international travel becomes more expensive.

鈥淒omestic tourism remains the backbone of the industry,鈥� it said.

Uncertainty is also affecting investment and expansion plans in the sector. Rising construction costs and weaker demand visibility are prompting developers to reassess projects.

鈥淢any hotel construction projects are being shelved, delayed, or renegotiated due to surging costs and uncertain demand,鈥� LPC said. LPC said a return to more normal conditions may be possible by the fourth quarter under a favorable scenario. 鈥� Arjay L. Balinbin

The real estate investment trust arm of Megaworld Corp. said the Digital Park is scheduled to open in 2026 and will include about 2,000 square meters of flexible workspace designed for startups and emerging businesses.

Under the agreement, MREIT and e27 will collaborate on a pilot innovation hub intended to support startup firms, founders, investors, and other ecosystem participants, MREIT said in a statement on Thursday.

Facilities will include meeting rooms, conference areas, function rooms, and multi-sized workspaces, the company said.

The space is also expected to serve as a community hub for office tenants, students, and residents within the township, while attracting startups from across Asia seeking a base in the Philippines.

The partnership will be implemented in phases, beginning with identifying partners, followed by formal collaborations with investors, accelerators, and corporate groups. This will be followed by programs such as startup-investor sessions, networking activities, and other events.

鈥淲e are proud to welcome e27 as our strategic partner for technology and innovation in McKinley Hill. As a thriving hub for diverse local and multinational firms, our township is the perfect setting to ignite growth for local startup businesses. Together, we are building vibrant, collaborative ecosystems to support the Philippines鈥� next generation of startups, empowering them to scale their ideas and shape the future of innovation,鈥� MREIT President and Chief Executive Officer Jose Arnulfo Batac said.

鈥淢REIT鈥檚 infrastructure transforms our regional playbook from event-driven engagement to a permanent, embedded presence. By anchoring within township communities, we are creating continuous founder support 鈥� through weekly mentorship, investor access, and skills development 鈥� rather than quarterly engagements,鈥� e27 Chief Executive Officer and Co-Founder Mohan Belani said.

MREIT said the McKinley Hill project will serve as a pilot for similar innovation hubs planned in other Megaworld townships, including Eastwood City, Southwoods City, Capital Town, and Iloilo Business Park.

e27, founded in 2007 and based in Singapore, operates a platform that connects startups, investors, and corporate stakeholders across Southeast Asia. 鈥� ALB

鈥淢ore entrepreneurs are incorporating importing into their long-term business strategies,鈥� CargoBoss Philippines said in a statement on Wednesday.

鈥淭he focus now is on making the process more transparent, predictable, and accessible,鈥� it added.

SMEs account for more than 99% of registered businesses in the Philippines, generate over 60% of total employment, and contribute about 30% to 40% of economic output, the company said, city industry data.

As competition intensifies, more businesses are sourcing products from overseas markets, particularly China, which accounts for about 20% to 30% of the country鈥檚 total imports, it noted.

The expansion of the digital economy, driven by e-commerce and online marketplaces, has also enabled more entrepreneurs to enter retail and distribution, increasing demand for imported goods, the logistics provider said.

However, importing remains complex for many smaller firms due to challenges such as coordinating with suppliers, managing documentation, and dealing with shipping costs and limited visibility over shipments, the company also said.

CargoBoss Philippines, which offers integrated freight services including consolidation at origin and final delivery, said communication and shipment visibility remain critical for businesses, particularly in fast-moving sectors such as e-commerce.

鈥淲e鈥檝e seen how important timely communication is for our clients,鈥� it said. 鈥淧roviding consistent support helps businesses manage their operations more effectively.鈥�

The company also said that import-driven business models are expected to grow as SMEs expand and digital commerce gains traction. 鈥� ALB

At its 19^th anniversary gathering on March 25, the real estate arm of LT Group, Inc. outlined plans to strengthen delivery standards, customer experience governance, and operational discipline across the organization.

The company said the shift forms part of its operating direction called 鈥淓ton in Motion,鈥� which focuses on aligning internal processes and accountability measures.

鈥淓ton set out to build more than developments. Nineteen years of commitments honored. Standards held. Trust earned 鈥� quietly and consistently 鈥� in the daily work that most people never see. Eton in Motion is not an anniversary theme. It is a declaration of how this company moves: with clear standards, consistent delivery, and the discipline to hold the standard even when it is inconvenient,鈥� said Donna Kristine Salgado, assistant vice-president for marketing, public relations, and corporate communications, in a statement on Monday.

Eton said it is strengthening oversight of customer experience through a centralized tracking framework managed by its Customer Experience Committee, which will measure performance based on customer feedback.

The company also introduced an internal handbook covering brand and customer experience standards, aimed at establishing a consistent approach across operations.

鈥淣ineteen years ago, Eton Properties was a promise. Today, that promise is still being kept 鈥� and still being earned. There is a lot of work ahead of us,鈥� said President and Chief Executive Officer Kyle Ellis Tan.

鈥淏ut we are moving in the right direction. Not because of the milestone. Because we have made a deliberate choice to be honest about where we are and disciplined about where we are going.鈥�

Eton executives said the company is focusing on improving coordination across teams, reinforcing accountability in day-to-day operations, and aligning internal processes with performance targets.

Eton Properties Philippines has a portfolio spanning residential, office, commercial, and hospitality developments across key urban areas in the country. 鈥� ALB

In a statement, MPIF said the initiative will take place in Del Carmen in Surigao del Norte, Alaminos City in Pangasinan, Puerto Galera in Oriental Mindoro, Medina in Misamis Oriental, Cordova in Cebu, Marinduque, Tubbataha Reefs Natural Park, and Mabini in Batangas.

The program, now in its 18^th year, will include coastal and underwater cleanups, as well as mangrove planting activities scheduled for March 29.

MPIF said the activities will involve volunteers from local communities, schools, youth groups, civic organizations, and environmental groups.

Participating communities will also observe Earth Hour on March 28 at 8:30 p.m., the foundation said.

鈥淪hore It Up! has always been about bringing people together around a shared responsibility for our seas and our communities. These efforts may begin with a single weekend, but they reflect a much bigger commitment鈥攖o be more mindful of how our actions affect our environment and to take part in protecting it in ways that are both practical and meaningful,鈥� MPIF President Melody del Rosario said.

She added that cleanup activities help raise awareness and support longer-term efforts such as mangrove restoration and marine conservation.

MPIF said the program aims to strengthen partnerships with local government units and communities while supporting coastal and marine conservation efforts. 鈥� ALB

According to Navigating Technological and Geopolitical Transformation, a report from the inaugural IEX Berkeley Collider Summit co-organized by the IE School of Science & Technology and UC Berkeley鈥檚 International Co-Lab, the traditional playbook of globalization is being fundamentally 鈥渞ewired.鈥�

While the previous era prioritized efficiency and cost optimization, the report said the current landscape is increasingly shaped by differing regulations, national priorities, and tighter control over key resources and technology.

For businesses, this means resilience is no longer just a buzzword but a practical requirement in a world where capital, data, and talent move through channels shaped by regional politics rather than fully open markets.

In response to queries on practical execution, Ikhlaq Sidhu, dean of IE School of Science and Technology, said globalization is not retreating but being redesigned.

鈥淭he shift from efficiency to resilience means companies must continuously adapt to changes in AI, supply chains, and geopolitics, rather than optimize for a fixed model. For companies in Asia-Pacific, resilience means diversifying supply chains, understanding multiple regulatory systems, and building the ability to reconfigure operations quickly as conditions change,鈥� he told 大象传媒 via e-mail.

AI AS PHYSICAL INFRASTRUCTURE
A key takeaway for the Philippines, particularly its information technology and business process management (IT-BPM) and manufacturing sectors, is the shift of AI from cloud-based software into embedded, real-world infrastructure.

The report said AI is becoming an integral part of logistics, healthcare, robotics, and energy systems.

Mr. Sidhu said this shift will change how technology is valued and delivered.

鈥淎I is no longer something you buy as software 鈥� it鈥檚 becoming embedded into products, infrastructure, and operations. That makes standalone software harder to sell. In sectors like IT-BPM and manufacturing, value will shift to integrating AI into real-world systems 鈥� combining software, hardware, and human expertise to deliver outcomes at scale. The competitive advantage will come not just from using AI, but from embedding it deeply into workflows and going beyond what AI alone can do,鈥� he said.

The report added that the next wave of innovation will come from the convergence of semiconductors, autonomous systems, and digital twins 鈥� areas that may require companies to rethink investments toward hardware-software integration and sensor-based systems.

CLOSING THE 鈥楢GENCY鈥� GAP
The report also pointed to a widening talent gap between 鈥減edigree鈥� (credentials) and 鈥渁gency鈥� (the ability to lead and act in uncertain conditions). As AI spreads across industries, traditional credentials alone are no longer enough.

Mr. Sidhu said talent must focus on human judgment and real-world impact to become more valuable in the job market.

鈥淭he bar for talent is rising. It鈥檚 no longer enough to have credentials 鈥� people need the ability to do what AI cannot. Companies need to move learning out of the classroom and into real projects 鈥� working with AI, but going beyond it with judgment, creativity, and context. Scale is the new innovation,鈥� he said.

Trond Petersen, associate dean at UC Berkeley, said that institutions must shift toward building 鈥渋nterdisciplinary capability and navigability.鈥�

To address these challenges, the report identified five strategic priorities: promoting adaptable, skills-based education; managing data across different regulatory systems; strengthening cross-border collaboration; improving energy efficiency in computing; and designing systems that can work seamlessly across global markets.

The report also noted that success in innovation is no longer measured by invention alone, but by real-world impact at scale.

鈥淭he challenge is not just to innovate, but to ensure systems can work together across boundaries,鈥� said Leticia Cabral Calvillo, executive director of the IEX Research Xcelerator at IE University. 鈥� Arjay L. Balinbin

In a disclosure on Tuesday, the property developer said the agreement was executed with its existing joint-venture partner and is subject to customary closing conditions.

ALI said the unsolicited offer provided a premium, allowing the company to recognize gains from the sale and monetize its stake in Alabang Town Center.

Proceeds from the transaction will be used to support the growth of ALI鈥檚 leasing portfolio and to provide a return of capital to stakeholders, the company said. — ALB

In a statement on Thursday, ABS-CBN said it 鈥渄eeply regrets that this action has been taken at this critical juncture in our recovery.鈥�

鈥淲e have sought additional time to resolve this matter and are working urgently within the thirty-day period we have been given,” the network added.

It said the 鈥渁mounts and manner of the claims remain disputed,鈥� and denied any suggestion of deliberate payment delays. 鈥淭here is no truth to any insinuation that ABS鈥慍BN willfully delayed payment,鈥� the company said.

The network said that the financial constraints underlying the issue stem from its previous loss of broadcast franchise, which 鈥渟ignificantly reduced鈥� its revenues and caused continued losses.

At the same time, ABS鈥慍BN said its transformation into a storytelling company has shown 鈥渟teady performance improvement.鈥�

ABS鈥慍BN said it remains open to 鈥渇air and reasonable solutions鈥� and will continue to find ways to reach audiences should the partnership officially end.

TV5 Network is part of MediaQuest Holdings, Inc., whose unit Hastings Holdings, Inc. 鈥� under the PLDT Beneficial Trust Fund 鈥� holds a majority stake in 大象传媒 through the Philippine Star Group.– Arjay L. Balinbin

The valuation covers 366 hectares of prime land within Villar City, a 3,500-hectare master-planned development spanning Metro Manila and Cavite. Villar Land acquired the properties through its purchase of Althorp Land Holdings, Inc., Chalgrove Properties, Inc., and Los Valores Corp. for P5.2 billion on Sept. 30 last year.

In its filing on Thursday, the company said the properties were initially appraised using the income approach, yielding an estimated value of about P1.3 trillion. After discussions with its external auditor, Punongbayan & Araullo (P&A), Vil-lar Land adopted the market approach for its audited financial statements.

鈥淎ppraisal reports were obtained from SEC-accredited property appraisers to support the fair value measurement鈥� The company agreed to use the valuation based on market approach,鈥� the report said.

According to Note 28 of the audited financial statements, the fair value of investment properties was disclosed at P52.74 billion, while the properties were recorded at P8,759,321,390 cost, in compliance with Philippine Financial Reporting Standards (PFRS).

P&A identified the valuation as a key audit matter, citing 鈥渟ignificant judgments and high estimation uncertainty鈥� in determining fair values. The audit report noted that the market approach relies on subjective inputs such as comparable sale prices, bargaining allowances, location, topography, and amenities, making valuations highly sensitive to assumption changes.

The auditors said they performed extensive procedures, including reviewing appraisal reports, testing assumptions against market data, and engaging independent valuation specialists to validate the figures.

The adjustment follows a SEC show-cause order issued to E-Value Phils., the original appraiser, to explain its P1.33-trillion valuation. The regulator also imposed P12 million in fines on Villar Land and 11 of its officials in August for delayed submission of audited financial statements, citing violations of the Securities Regulation Code.

The company reported a net income of P1.423 billion for 2024, slightly higher than P1.416 billion for 2023, marking a 0.5% increase year on year. The improvement was driven by higher interment and chapel service revenues, which grew 23% and 43%, respectively, offsetting a 26% decline in real estate sales.

Total assets surged 28% to P35.75 billion from P27.98 billion in 2023, largely due to the Villar City land acquisition and reclassification of investment properties. Investment properties at cost jumped from P76 million to P8.76 billion, an increase of P8.68 billion or 11,462%, while fair value disclosure rose to P52.74 billion.

Equity declined slightly by 3% to P13.67 billion, while liabilities rose 59% to P22.08 billion, reflecting higher payables and related-party obligations linked to the acquisition.

EARLIER UNAUDITED DISCLOSURE

On March 31, Villar Land reported a net income of P999.72 billion for 2024, up from P1.46 billion the previous year, attributing the spike to fair value gains on investment properties that ballooned to P1.33 trillion from P59 million in 2023.

Revenue fell by 25% to P3.58 billion as real estate sales declined by 26% to P3.31 billion due to lower residential unit sales.

Villar Land, formerly Golden MV Holdings, Inc., changed its name in November 2024 following an amendment to its articles of incorporation. It is among the country鈥檚 largest developers of memorial parks under the Golden Haven brand and mass housing projects through Bria Homes.

At the local bourse on Thursday, shares of Villar Land were down by 29.97% or P688 to close at P1,608 apiece. 鈥� Beatriz Marie D. Cruz and Arjay L. Balinbin

The shares slipped by P0.02 or 0.13% after opening at P15 and touching a low of P14.98, data from the Philippine Stock Exchange (PSE) showed. Around 100.81 million shares were traded, valued at P1.51 billion.

Maynilad鈥檚 debut placed its market capitalization at about P113.2 billion, with a free float level of 30.18%. A total of 7.62 billion common shares were listed under the industrial sector鈥檚 electricity, energy, power, and water sub-sector. Foreign ownership in the company is capped at 40%, in line with public utility regulations.

In a statement, Maynilad said the listing marks a 鈥渉istoric milestone鈥� as President Ferdinand R. Marcos, Jr. joined company and PSE officials in ringing the bell to mark its official debut at the PSE Events Hall in Bonifacio Global City, Taguig.

鈥淭hrough this IPO, Maynilad strengthens its capacity to fund major expansion and modernization programs for water and wastewater infrastructure across the West Zone鈥攆urther advancing its mission to provide safe, reliable, and sustainable water and wastewater services to millions of Filipinos,鈥� the company said.

The company鈥檚 P15-per-share IPO raised P34.3 billion in gross proceeds, which will be used for capital expenditures and general corporate purposes.

At a press briefing following the listing ceremony, Maynilad President and Chief Executive Officer Ramoncito S. Fernandez said the results of the IPO reaffirm investor confidence in the company鈥檚 fundamentals.

鈥淲e believe that Maynilad has very strong fundamentals and a long-term value proposition. We [also] believe that Maynilad is a solid investment, delivering essential water services with very predictable cash flows,鈥� he said. 鈥淲e got very positive feedback from both domestic and foreign investors, attesting to the company’s operational performance, capex (capital expenditure) plans, and dividend policy.鈥�

During the same briefing, Maynilad Chief Financial Officer Ricardo F. Delos Reyes said total demand for the IPO reached 2.7 times the number of shares offered.

鈥淎s far as I know, we were oversubscribed, and the geographic distribution was: Asia investors accounted for 53.6%, European investors 14.7%, local investors 29.6%, and the U.S. finally at 1%,鈥� he said.

Maynilad becomes the second and last company to list on the PSE this year and the largest since Monde Nissin Corp.鈥檚 P48.6-billion offering in 2021 with its IPO price.

PSE President and Chief Executive Officer Ramon S. Monzon said during the listing ceremony that Maynilad鈥檚 IPO demonstrated renewed foreign investor confidence in the local market.

鈥淢aynilad had two foreign multilateral lenders, Asian Development Bank (ADB) and International Finance Corp. (IFC), investing in this IPO as anchor investors, along with six other foreign investors participating as cornerstone investors. Clearly, this disproves the doomsayers鈥� claim of foreign investor disinterest in our market,鈥� Mr. Monzon said.

He added that the Securities and Exchange Commission awarded the country鈥檚 first Philippine Green Equity Label to Maynilad for its adherence to sustainability standards.

In his remarks during the ceremony, Mr. Marcos said the listing underscores confidence in the country鈥檚 capital markets and commitment to public accountability.

鈥淲ith its IPO, Maynilad welcomes scrutiny and accountability. And in doing so, Maynilad can expand our capital markets and our shared belief that private enterprise can serve the public good,鈥� the president said.

鈥淢aynilad鈥檚 public listing signals what I have been telling the world: that the Philippines is open, ready, and eager to do business with you,鈥� he added.

鈥淕iven the market鈥檚 prevailing bearish sentiment, it鈥檚 not surprising that Maynilad failed to gain traction on its market debut,鈥� DragonFi Securities, Inc. Equity Research Analyst Jarrod Leighton M. Tin said in a Viber message.

鈥淭he stock鈥檚 current stability appears to be supported primarily by the stabilization fund, which, once exhausted, could lead to further downside pressure. Sentiment worsened following the softer-than-expected third-quarter gross domestic product (GDP) print released earlier, significantly missing forecasts.鈥�

The Philippine economy expanded by 4% in the third quarter, the slowest pace since early 2021, bringing the year-to-date growth average to 5%, below the government鈥檚 5.5%-6.5% target.

鈥淭he demand and liquidity were robust with MYNLD topping the list of most actively traded stocks, although that鈥檚 to be expected with market debuts. We will have to see the next few days if MYNLD can hold the line even amidst the weak market sentiment,鈥� AP Securities, Inc. Research Head Alfred Benjamin R. Garcia said in a Viber message.

Metro Pacific Investments Corp., which holds a majority stake in Maynilad, is one of three Philippine subsidiaries of First Pacific Co. Ltd., alongside Philex Mining Corp. and PLDT Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., holds an interest in 大象传媒 through the Philippine Star Group, which it controls.–Alexandria Grace C. Magno and Arjay L. Balinbin

The bonds will be issued in up to two series: two-year Series A bonds due 2027 with a fixed rate of 5.7725% and three-year Series B bonds due 2028 with a rate of 5.9418%.

The offer period will run from Oct. 6 to 13, according to GT Capital. First Metro Investment Corp. and ING Bank N.V. Manila Branch are the joint lead arrangers and bookrunners for the transaction. Both firms will also serve as the selling agents, alongside Metropolitan Bank & Trust Co. and BPI Capital Corp.

TFSPH aims to reach a wider investor base that includes both institutional and individual investors, GT Capital said.

Philippine Rating Services Corp. (PhilRatings) assigned TFSPH an issuer credit rating of PRS Aaa with a stable outlook.

In the first quarter of fiscal year 2025, TFSPH鈥檚 total revenues rose by 11% to P3.9 billion, while loan receivables increased by 9% to P159.4 billion.

TFSPH is 60% owned by Japan-based Toyota Financial Services Corp. and 40% by GT Capital. — A.L. Balinbin and B.M.D. Cruz

鈥淏uoyed by domestic demand and an uptick in infrastructure investments, the Philippine economy expanded by 5.4% in the first quarter of 2025, but US tariffs proved to be a spoiler. The country鈥檚 benchmark stock market index dipped 7% since fortunes were last measured, though that was partially offset by a firmer peso,鈥� Forbes Asia said in a statement.

The Sy siblings once again topped the Forbes list of the Philippines鈥� 50 Richest for 2025, despite a $1.2-billion drop in their net worth.

The six Sy siblings, namely, Teresita, Elizabeth, Henry Jr., Hans, Herbert, and Harley, posted a combined net worth $11.8 billion. They are the heirs to the SM Group built by the late Henry Sy, Sr., who was the richest man in the Philippines until his death in January 2019.

Ports and casino tycoon Enrique K. Razon, Jr. landed on the second spot for the second straight year. The chairman of International Container Terminal Services, Inc. and Bloomberry Resorts Corp. had a net worth of $11.5 billion, up from last year鈥檚 $11.1 billion.

Property tycoon and former politician Manuel B. Villar, Jr. remained in third place with a fortune of $11 billion, slightly higher than his net worth of $10.9 billion last year. This comes as he turned his mass-housing and memorial park developer Golden MV Holdings into Villar Land Holdings.

San Miguel Corp. Chairman and Chief Executive Officer Ramon S. Ang ranked fourth with a net worth of $3.75 billion, slightly lower than the $3.8-billion net worth last year.

In fifth spot was DMCI Holdings, Inc. Chairman Isidro A. Consunji and his siblings with a net worth of $3.7 billion.

The Que Azcona family debuted at No. 6 with $3.6 billion net worth. The family entered the richest list after the Mercury Drug Corp. President Vivian Q. Azcona passed away in April. Her son Steven Azcona took over the drugstore chain.

Jaime Zobel de Ayala and his family inched up a spot to 7^th place with a net worth of $3.4 billion, higher than the $2.6 billion a year ago.

Taipan Lucio C. Tan, chairman of LT Group, Inc., slipped a spot to 8^th place with a net worth of $3.2 billion.

Puregold Price Club, Inc. founders Lucio and Susan Co came in on ninth place with a net worth of $3 billion, while Jollibee Foods Corp. Chairman Tony Tan Caktiong rounded out the top 10 with $2.9 billion.

The Ty siblings, Arthur, Alfred, Alesandra and Anjanette, are 11^th richest in the country with a net worth of $2.8 billion. They are the children of late banking tycoon George Ty, who was the founder of Metropolitan Bank & Trust Co.

The Aboitiz family, who owns Cebu-based conglomerate Aboitiz Equity Ventures, Inc., are in 12^th spot with a net worth of $2.2 billion.

The Po family, who controls Century Pacific Food, ranked 13^th with a net worth of $1.9 billion.

Lance Y. Gokongwei and his siblings, whose companies include JG Summit Holdings, Cebu Pacific and Robinsons Land, are in 14^th spot with a net worth of $1.8 billion.

Andrew L. Tan, who owns Alliance Global Group, Inc., landed in 15^th place with a net worth of $1.65 billion.

Dennis Anthony H. Uy and Maria Grace Y. Uy, co-founders of broadband services provider Converge ICT Solutions, Inc., were in 16^th place as their combined net worth surged 74% to $1.6 billion.

In 17^th spot was Soledad Oppen-Cojuangco and family with a net worth of $1.15 billion, followed by online gaming, education, and logistics tycoon Eusebio H. Tanco in 18^th spot with a wealth of $1.1 billion.

In 19^th place were the Campos siblings, Jocelyn, Joselito and Jeffrey, with $910 million. Their father Jose Campos founded Unilab with business partner Mariano Tan.

Indonesian-born Hartono Kweefanus, chairman emeritus of Monde Nissin, and his family landed in 20^th spot with a net worth of $840 million. He is the brother-in-law of Monde Nissin president Betty Ang, who ranked 23^rd on the list with $615 million.

A minimum net worth of $185 million was needed to make this year鈥檚 list, up from $170 million in 2024.

Forbes said the net worth of top Philippine tycoons were based on the closing stock prices and exchange rates as of close on July 18, 2025. The list used shareholding and financial information from families and individuals, stock exchanges, analysts, and other sources. It also includes family fortunes, including those shared among extended families.

The list may also include foreign citizens or citizens who don鈥檛 reside in the Philippines but who have significant business or ties to the country. 鈥� with Arjay L. Balinbin and Revin Mikhael D. Ochave

The heirs to the SM Group empire held their top position despite a $1.2 billion dip in their wealth.

Ports and casino tycoon Enrique K. Razon, Jr., chairman of International Container Terminal Services, Inc. and Bloomberry Resorts Corp., retained the No. 2 spot with $11.5 billion.

Former senator and property magnate Manuel B. Villar, Jr. stayed in third place with a fortune of $11 billion.

San Miguel Corp. Chairman and Chief Executive Officer Ramon S. Ang ranked fourth with a net worth of $3.75 billion, followed by Isidro A. Consunji & siblings of DMCI Holdings, Inc. at No. 5 with $3.7 billion.

The Que Azcona family, taking over from the late Mercury Drug Corp. President Vivian Q. Azcona who passed away in April, debuted at No. 6 with $3.6 billion. The drugstore chain is now led by her son, Steven Azcona.

Jaime Zobel de Ayala & family of conglomerate Ayala Corp. came in seventh with $3.4 billion.

At No. 8 is airline and liquor magnate Lucio C. Tan, who holds a net worth of $3.2 billion.

Puregold Price Club, Inc. founders Lucio and Susan Co were listed ninth with $3 billion, while Jollibee Foods Corp. Chairman Tony Tan Caktiong rounded out the top ten with $2.9 billion.

The minimum net worth to make the 2025 list was $185 million, up from $170 million the previous year.

The full list appears in the August issue of Forbes Asia and on .鈥� Arjay L. Balinbin and Revin Mikhael D. Ochave

JAPAN-BASED department store chain Mitsukoshi is gearing up to introduce more Japanese brands and local partnerships at its Philippine branch Mitsukoshi BGC, a company official said.

鈥淲hat we are trying to do in Mitsukoshi BGC is to become a place where you can find and experience a bit of Japan, and where also new value is created through a combination of Filipino culture and Japanese culture,鈥� Momoko Umemura, manager at Isetan Mitsukoshi Holdings Ltd.鈥檚 corporate real estate department, said in a media briefing in Tokyo on May 29.听

鈥淢itsukoshi BGC is becoming one of the starting points for Japanese companies to start their business in the Philippines,鈥� she added.

Set to delight Filipinos is the Japanese treat anmitsu, a classic chilled dessert featuring white, semi-translucent jelly. This delicacy will be available for P450.

Mitsukoshi BGC is also expanding its selection of Japanese rice wines. Among the new offerings are the Kakurei Junmai Ginjo, priced at P1,980, and the Gangi Junmai Dai Ginjo Yunagi, which will be available for P2,980.

鈥淚t鈥檚 not only about Japanese companies. We鈥檙e trying to co-create new value and synergy. One good example is the collaboration between Mitsukoshi Fresh and Auro Chocolate,鈥� Ms. Umemura said. Auro Chocolate is a premium bean-to-bar chocolate brand in the Philippines.

She added that the company is also looking to partner with more local suppliers.

Mitsukoshi BGC, the first Japanese mall in the Philippines established in Bonifacio Global City (BGC), Taguig, in 2022, recently introduced 15 new brands, bringing the total number of purely Japanese brands to 38.

Japanese furniture retailer Nitori also recently opened its store in Mitsukoshi BGC.

The origins of Mitsukoshi trace back to 1673, during Japan鈥檚 Edo period, when Takatoshi Mitsui, a visionary businessman, established the Kimono Fabric store 鈥淓chigoya鈥� in Edo, now known as Tokyo.

In 1904, the听department store declaration听was issued, saying: 鈥淲e aim to pursue the improvement of customer satisfaction and convenience by providing the latest business presentations and assortment of cutting-edge department products.鈥� Consequently, Mitsukoshi established itself as Japan鈥檚 pioneering department store. Its flagship store is situated in Nihonbashi, a vibrant commercial district renowned for its iconic 17^th century canal bridge.

Mitsukoshi BGC, a commercial facility located in the basement of a residential building, is a partnership between local company Federal Land, Inc., the property arm of the Ty-led conglomerate GT Capital Holdings, Inc., and Japan鈥檚 Nomura Real Estate (NRE) Development and Isetan Mitsukoshi Holdings.

Their mixed-use residential and commercial development project 鈥渨as designed based on a Japanese concept and received the highest award in the Residential High-rise Development category at the International Property Awards, recognizing outstanding real estate projects worldwide,鈥� said Masato Yamauchi, director and head of NRE鈥檚 overseas business division, during a briefing.

鈥淭hrough managing this property, we aim to continually enhance the lifestyle offerings in Manila, providing a uniquely Japanese experience to the Filipino community,鈥� he added. The residential tower, named 鈥淭he Seasons Residences,鈥� features units named 鈥淗aru鈥� (spring), 鈥淣atsu鈥� (summer), 鈥淎ki鈥� (autumn),鈥� and 鈥淔uyu鈥� (winter), representing Japan鈥檚 four seasons.

鈥淎s seen, there are a lot of things to look forward to, a lot of products that will come soon to the shores of Mitsukoshi BGC,鈥� said Charmaine N. Bauzon, commercial business group head at Federal Land听NRE Global, Inc.

鈥淲e will not stop at just these products. I think we will continue to surprise our Filipino customers,鈥� she added.

JAPAN鈥檚 Nomura Real Estate (NRE) Development Co. Ltd. said it expects the Philippines, a primary investment focus in Southeast Asia after Vietnam, to contribute up to 30% of its total overseas profit by 2031.

鈥淲ith our current projections and assuming stable market conditions, we estimate that around 2031, the share of profit from FNG would be somewhere between 20-30% of the total profit of our overseas business we make, which is a substantial share,鈥� Atsushi Ogata, executive officer of NRE鈥檚 overseas business division, said in an interview in Tokyo last week.

In 2022, NRE and Federal Land, Inc.,听the property arm of the听Ty-led听conglomerate GT Capital Holdings, Inc., established Federal Land NRE Global (FNG) to develop real estate in the Philippines permanently.

FNG, which hopes to create 6,000 job opportunities in the Philippines within the first five years of its operations, said it aims to integrate NRE鈥檚 innovation, technology, and design with Federal Land鈥檚 knowledge of the Philippine market.

Federal Land鈥檚 projects include GT Tower International in Makati, Marco Polo Plaza and Marco Polo Residences in Cebu. They also include the Metro Park, a 36-hectare integrated community in the Bay Area, and the Grand Central Park, a 10-hectare township in Bonifacio Global City (BGC), featuring the Grand Hyatt Manila and Grand Hyatt Manila Residences.

Federal Land鈥檚 first project with NRE is The Seasons Residences, a four-tower high-end residential development in BGC.

鈥淔NG has four development sites in Metro Manila and Cebu Island, with a total project cost of approximately $5 billion,鈥� said Masato Yamauchi, director and head of NRE鈥檚 overseas business division. The FNG project encompasses an initial lineup of residential, office, commercial, and industrial facilities.

The partnership has also brought the first Mitsukoshi, an international department store chain headquartered in Tokyo, to the Philippines.

NRE, currently the largest developer in Japan in terms of condominium unit turnover and the fifth largest in consolidated sales, regards its global business as a significant driver of growth.

The company, with a diverse portfolio including residences, offices, retail spaces, logistics facilities, and hotels,听 plans to invest approximately JPY 550 billion in its overseas ventures by March 2031 and aims to generate more than 15% of its total profit from its international operations.

As of last year, NRE had an investment balance of JPY 140 billion in its overseas business 鈥� 19% for the Philippines, 5% for China, 10% for the United Kingdom, 1% for the United States, and 50% for Vietnam. This makes the Philippines the second largest recipient of NRE鈥檚 investments in Southeast Asia.

NRE is currently expanding its overseas portfolio into additional countries.

In Southeast Asia, Mr. Ogata said that Vietnam鈥檚 earlier market entry and larger population 鈥渘aturally鈥� led to higher investment there.

鈥淲e started the Vietnam business many years before the Philippines, so it鈥檚 natural to have a larger amount of investment. Also, the population of Vietnam is larger, making it a big market,鈥� he said.

Mr. Ogata also noted the need to recognize the distinct differences between the Philippine and Vietnamese markets when comparing NRE鈥檚 ventures in both countries.

鈥淏oth are rapidly developing but with unique characteristics. For instance, in Vietnam, we don鈥檛 have any capital restrictions, so if we would like, we can invest hundreds of percent into a foreign project,鈥� he said.

NRE鈥檚 projects in Vietnam include Zen Plaza, Sun Wah Tower, Phu My Hung Midtown, and Vinhomes Grand Park, all in Ho Chi Minh City, as well as the Ecopark Project in Hanoi.

The Philippines holds significant potential, Mr. Ogata noted. 鈥淭he Philippine market, with its large population, is strategically important for us.鈥�

The company employs the Japanese principle of 鈥渒aizen,鈥� or continuous improvement, to refine its business practices and product offerings.

鈥淭hrough kaizen, we鈥檝e refined sophisticated methods in Japan that we can apply to the Philippine market,鈥� Mr. Ogata said, highlighting the company鈥檚 tailored strategy to meet local needs at every project stage, from planning and design to construction and delivery, aiming to enhance overall value and quality.

鈥淓fforts to reach an amicable solution with Cagayan de Oro Water District (COWD) over outstanding payments and water pricing have been impeded by a lack of COWD representation,鈥� the company said in a statement on Wednesday.

It said that a meeting took place on April 30 with COWD, which included representatives from LWUA, Metro Pacific Water, Congressman’s office, and COBI.

鈥淗owever, only one COWD director was present, thereby not reaching a quorum to provide a needed resolution, which is the outstanding balance of COWD to COBI,鈥� the company said.

鈥淭his absence of representation from COWD raises concerns about their commitment to resolving the issue and compromising water supply for their consumers,鈥� it added.

The company noted that LWUA has already intervened to mediate and prevent service disruptions, particularly during the El Ni帽o season.

鈥淭hey requested a 30-day extension to facilitate discussions between Metro Pacific Water and COWD. Unfortunately, despite multiple negotiation meetings, an agreement could not be reached,鈥� it said.

鈥淎t this point, we are still open for an immediate and swift resolution of unsettled accounts.听 We encourage COWD to work with us to ensure a secure water supply for all Cagayanons,鈥� the company added.

Metro Pacific Water听is a wholly owned water infrastructure investment subsidiary of Metro Pacific Investments Corp. (MPIC).

MPIC is one of the three key Philippine units of Hong Kong-based First Pacific, the others being Philex Mining Corp. and PLDT Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority share in听大象传媒 through the Philippine Star Group, which it controls.听鈥� ALB

In an e-mailed statement, Shopee reported a fiftyfold increase in orders on Shopee Live, an interactive live-streaming feature on the e-commerce platform, during its 12.12 Mega Pamasko Sale.

鈥淲ith the gifting season in full swing, the first two minutes of the highly anticipated sale resulted in 12 million items sold on Shopee Live across markets,鈥� the platform said.

The surge in live-stream shopping led to a forty-sixfold increase in new buyers locally, emphasizing the trend鈥檚 popularity, it also said.

Shopee noted that buyers collectively saved P509 million, thanks to partnerships with brands and sellers.

鈥淎s the year draws to a close, Filipinos also look forward to year-end bonuses, signaling the opportunity to make major purchases, buy gifts, or reward themselves after a full year鈥檚 work,鈥� it added.

Home & Living items emerged as the top-selling category during the sale, indicating a consumer interest in enhancing living spaces. This was followed by Women鈥檚 Apparel and Mobile Accessories, reflecting diverse preferences among holiday shoppers.

At the same time, both the Fashion and Health & Beauty categories saw a fivefold increase in orders.

Top-performing brands with the highest number of orders platform-wide included Uni-Care, Maybelline, and Issy & Co.

Furthermore, o.two.o.ph, Uni-Care, and Lovito.ph secured the highest number of orders on Shopee Live.

鈥淒espite all the shopping, Filipinos remain frugal, making wise use of their money by stocking up on top-selling essentials such as face masks, organic baby wipes, and 3-in-1 twin coffee packs,鈥� the platform said. 鈥� ALB

CURATING moments of joy and surprise is the driving force behind M Proposals MNL, a wedding proposal planning company that hopes to expand all over the country, its founder Carmela Denise A. Alcordo said.

鈥淲e researched this several years ago, and until now, we鈥檙e the only one doing this full time,鈥� Ms. Alcordo said in an interview with听大象传媒.

Her journey started during high school in Batangas when a feasibility study project sparked her entrepreneurial spirit.

鈥淥ur teacher asked us to do a feasibility study, and what I did was create an events company. I saw that it was a viable business and something I could do.鈥�

鈥淪o I started with weddings, debuts, social and corporate events. And then, right after I graduated, I went to a corporate job, and I saw there was potential in proposal planning because I saw one of those showbusiness proposals, and I saw it usually goes viral (on social media platforms),鈥� she added.

The transition from general events to a niche as specific as proposal planning was not without its challenges.

鈥淚 didn鈥檛 have a business model to guide me; everything I created was based on my experience,鈥� Ms. Alcordo said.

鈥淚t was challenging but exciting to really come up with a business that is unique but with a lot of opportunities and potential.鈥�

M Proposals also experienced an unexpected surge in inquiries during the pandemic period, reaching an average of 10-20 per day, Ms. Alcordo added.

She said that the demand could be attributed to the hunger for surprise-filled proposals and the convenience the company offers to busy clients.

鈥淲e cater to overseas Filipino workers, nurses, executives, CEOs 鈥� people who lack time to conceptualize proposals.鈥�

PERSONALIZED PROPOSALS
At the core of M Proposals lies the art of personalization.

Ms. Alcordo detailed the process: 鈥淔rom significant details to shared hobbies, we use these elements to conceptualize a proposal perfect for the couple.鈥�

She recalled a flash mob proposal in a busy street, saying, 鈥淭he unforgettable moment was the girl鈥檚 reaction.鈥�

鈥淪he dreamt of this her whole life but didn鈥檛 expect her boyfriend could do it to her.鈥�

Such moments, she said, epitomize the emotional impact M Proposals aims for, resonating not just with the couple but also the surrounding audience.

DIVERSE OFFERINGS AND INCLUSIVITY
M Proposals embraces diversity through ready-made proposal packages starting from P30,000, Ms. Alcordo said.

Options like the hotel proposal, complete with decoration, cocktails, and an overnight stay, or the scenic lush proposal, offering breathtaking views, cater to varied preferences, she noted.

The inclusivity extends to LGBTQ couples.

While M Proposals does not have specific packages for them, Ms. Alcordo said, 鈥淭hey鈥檙e unique, [and] we give them the creativity they require.鈥�

鈥淏asically, we really cater to their requirements because they鈥檙e really unique and glamorous, and I like that,鈥� she added.

FUTURE EXPANSION AND VISION
As M Proposals continues its journey, Ms. Alcordo envisions expanding to different Philippine destinations and partnering with international companies.

鈥淐lients ask about proposals in other locations like鈥� Singapore,鈥� she said.

This aligns with her ultimate goal 鈥� making M Proposals a well-known name in proposal planning.

鈥淚 really want M Proposals to be a well-known proposal company in the Philippines,鈥� Ms. Alcordo said.

Beyond individual success, her vision extends to a collaborative network where proposal planners share creativity and craft unique experiences.

鈥淓ven if we are the first, definitely, I feel like we can have a network of proposal planners where we can help each other, but we will be top of mind when it comes to proposal planning. With all the clients that we鈥檒l have, we can provide them with creativity, and the unique and unforgettable experience that they would like to have,鈥� she said.

For Ms. Alcordo, her entrepreneurial journey embodies the essence of her business 鈥� unique, creative, and passionately driven.

鈥淭he good thing about this is the anticipation of surprises and having the privilege to listen to all of our clients鈥� love stories and make the most out of those stories to create unforgettable memories,鈥� she said.

鈥淓ven if I鈥檓 working, it feels like I鈥檓 not鈥� For example, if I have a client and ask them what their love story is, that鈥檚 the most precious part of my work.鈥� 鈥� with Aaron听Michael C. Sy

KATHMANDU, NEPAL 鈥� Against the backdrop of rich cultures and traditions in the Kathmandu Valley, three Filipinas are navigating opportunities as entrepreneurs.

Sharon G. Shakya, Ludivina 鈥淰ina鈥� Maharjan, and Sheilla Mae J. Manto, all with Nepali husbands, said their journeys have exposed them to unique and sometimes daunting challenges that come with running a business in Nepal.

Many Filipinas have established businesses in the country, including manpower agencies, education consultancies, inns, schools, spas, travel companies, cafes, bakeries, restaurants, and import-export trading houses, the Nepal-Philippines Chamber of Commerce and Industry said on its website.

Ms. Shakya, a dentist, moved to Kathmandu a few years back with the goal of making an impact on oral healthcare alongside her husband, who is also a dentist.

Yet, her journey did not stop at dentistry. While co-running Cosmo Dental Clinic with her husband, she ventured into the culinary world, opening a Filipino restaurant called Cebu Fiesta in Lalitpur, a city on the outskirts of the capital Kathmandu.

鈥淐ebu is already like my second home in the Philippines because that鈥檚 where I met my husband when he was studying there,鈥� Ms. Shakya told听大象传媒, explaining why she named her restaurant after Cebu despite being born in Negros, another region in the central Philippines.

Ms. Shakya is among Filipinas who married Nepali spouses they met at Philippine medical schools. This is not surprising, as the relationship between Nepal and the Philippines is often linked to education. 鈥淲e have hundreds of Nepali students going to the Philippines for studies, including aviation training and medicine,鈥� said non-resident Ambassador of the Philippines to Nepal Ramon S. Bagatsing, Jr. in an interview with local news agency myRepublica in 2022.

鈥淢ost Filipino women living in Nepal are married to Nepali men,鈥� Mr. Bagatsing noted.

For Ms. Shakya, her restaurant is more than just a business venture; it is a cultural bridge connecting the flavors and traditions of the Philippines with the Nepalese palate.

She envisions Cebu Fiesta as a place where people from various backgrounds in the Himalayan nation can come together to savor Filipino dishes and learn about Filipino culture.

鈥淚t is a good start for us that we are slowly introducing our food 鈥� our culture 鈥� here,鈥� she said.

The restaurant offers a diverse selection of Filipino dishes, with the bestsellers being lechon kawali (crispy fried pork belly), sisig (sizzling pork dish), and chicken adobo (chicken stew).

Cebu Fiesta, nestled in a residential area near schools and other small businesses, is adorned with Filipino handicrafts like buri products, creating a welcoming Filipino ambiance. The menu also features sinigang (sour soup), crispy pata (deep-fried pork leg), chop suey (vegetable stir-fry), halo-halo (shaved ice dessert), and more.

FROM DOMESTIC HELPER TO JEWELRY BUSINESS
The story of Ms. Maharjan, executive director at Classic Diamond Jewellers, is one of ambition and relentless pursuit. She began her journey as a domestic helper in Hong Kong but took an unexpected path when she married a jeweler from Nepal.

Born and raised in La Union in the northern Philippines, Ms. Maharjan鈥檚 journey embarked from a place where opportunities were scarce.

According to her, the year 1996 marked the inception of the jewelry business.

With a modest budget, her husband鈥檚 family ventured into the jewelry trade. The journey began within the confines of their home.

鈥淭he whole family started it, because in Nepal it鈥檚 usually a joint family business,鈥� she said.

鈥淚 didn鈥檛 join the business immediately. I worked at a travel agency in Nepal for two years just to learn the language, and after that, I went to India to gain knowledge of diamond assorting and colored stones, where I stayed for six months,鈥� she added.

She said that understanding every aspect of the business, from the ground up, was essential. She had also spent five years working in the family鈥檚 jewelry factory.

鈥淎fter that, we opened our first store in Lalitpur, then in America, in Jackson Heights, New York, and in Maryland, and then in Europe. I think we have four stores,鈥� she said.

Ms. Maharjan said her interest in jewelry began in her childhood, watching celebrities on TV, and it deepened during her stay in Hong Kong.

鈥淲henever I would pass by the streets of Hong Kong, I would always look for jewelry shops.鈥�

While she may not consider herself an artist, she said that her passion and keen eye for aesthetics drive her design process.

Drawing inspiration from various sources, she said that she brings her unique touch to each piece.

鈥淎lmost everything here, I designed. These are not exactly my designs 鈥� I got the idea from the internet or magazines and just modified them,鈥� she said.

The jewelry business takes pride in its diamond-encrusted crowns, particularly tiaras, which are popular not only among royalty but also among stylish customers.

According to her, skilled workers from Kolkata, India, known for their expertise in jewelry-making, are the foundation of the craftsmanship that distinguishes their jewelry.

She is proud to see her creations worn at parties and special events, she said.

鈥淚 recognize them 鈥� they look different because of the finishing.鈥�

MOTHERHOOD TO ENTREPRENEURSHIP
Ms. Manto, a registered nurse from Cebu, set foot in Nepal in 2018. Having met her husband, Suav Zuwa, who studied medicine in the province, their shared passion for improving lives through skincare and medicine kindled the idea of bringing their expertise to Nepal.

The couple started their entrepreneurial journey by venturing into retail.

鈥淔rom brightening skin to combating acne scars,鈥� Ms. Manto said, they recognized the demand for cosmetic products in Nepal.

Ms. Manto, president of Zuwa Enterprises, also said she was determined to balance the responsibilities of motherhood with her entrepreneurial dreams.

鈥淚 want to take care of my three kids while doing the business,鈥� she said.

Her background in customer service and sales in the Philippines also provided valuable insights into handling customers effectively, she noted.

Soon, they diversified their operations, delving into import and export activities between the Philippines and Nepal, by introducing their own skincare brands under the Zuwa Enterprises umbrella.

Recognizing the low trade volume between the Philippines and Nepal, 鈥渨e saw an opportunity to contribute,鈥� said Mr. Zuwa, Ms. Manto鈥檚 husband.

In the last 25 years, Nepal’s exports to the Philippines grew at annualized rate of 7.39%, from $30,800 in 1996 to $184,000 in 2021, based on data from the Observatory of Economic Complexity, a platform for international trade data.

Meanwhile, the Philippines’ exports to Nepal increased at a faster rate of 12.2%, reaching $6.21 million in 2021.

According to Mr. Zuwa, a key milestone in Zuwa Enterprises鈥� journey was the positive reception of Philippine-made skincare products in Nepal.

The products 鈥済ained good attention especially during the summer months,鈥� he told听大象传媒.

The couple also highlighted the similarities between Nepal and the Philippines.

Both nations share an Asian heritage and a preference for brighter and flawless skin, they said,听 adding that there is a high demand for exfoliants and whitening products like glutathione, collagen, and tretinoin in both countries.

After a brief hiatus due to the pandemic, the company resumed operations in December 2022 and imported a substantial 4,000 to 5,000 kilograms of cosmetic products in the previous quarter, Mr. Zuwa noted.

The company, he also said, encountered 鈥渘o resistance鈥� when introducing its products in either the Philippines or Nepal, witnessing rapid growth fueled by the shared enthusiasm for 鈥渢rying new, unique, and effective鈥� cosmetic solutions.

Ms. Manto uses TikTok to market her company鈥檚 products. Initially, TikTok served as a modest platform for their marketing efforts, but the shift toward livestreams and engaging video content significantly boosted sales, she noted.

鈥淪heilla herself wants to be on TikTok, and this trend, I think, is inspired by beauty company CEOs in the Philippines,鈥� Ms. Manto鈥檚 husband said, noting that the platform enables direct engagement with customers and aids in product improvement.

Zuwa Enterprises in Nepal operates from its own office in Kathmandu and delivers products nationwide, offering cash-on-delivery services. 鈥淲e have had around 40,000 customers reach out to us,鈥� said Ms. Manto鈥檚 husband.

MAKING CHOICES
The Filipino restaurant owner, Ms. Shakya, said she faces challenges during religious and cultural celebrations. For instance, Nepalese people鈥檚 preference for vegetarian food during Shrawan (mid-July to mid-August) affects sales, she noted.

To address this, she made the bold decision of adapting her menu to the Nepali culture by offering purely vegetarian dishes during this month.

She ventured into online delivery services to survive during the toughest times, especially during the pandemic.

Ms. Shakya also found support in her Filipino friends. 鈥淢any friends were willing to help me,鈥� she noted.

鈥淭hey said, 鈥極kay, in cooking, we will be there for you… because I didn鈥檛 really have a background in this since my profession is different,鈥欌�� Ms. Shakya said.

This camaraderie among Filipino expatriates plays a vital role in her journey, she added.

For Ms. Maharjan, the jeweler, a key challenge in the Nepali market is 鈥渆nsuring customer satisfaction.鈥�

In Nepal鈥檚 close-knit business environment, reputation and word-of-mouth are crucial. Even a single dissatisfied customer鈥檚 complaint can have a significant impact, she said.

鈥淭hey are the customers, so they are always right; even if it鈥檚 impossible to do what they want, we still try, because Nepal is a very small market.鈥�

Ms. Maharjan also emphasized the importance of treating customers like family.

鈥淲e treat them like family,鈥� she said. 鈥淲e have regular customers, and that鈥檚 what makes me happy here. If you have regular customers, it鈥檚 like a cycle, generation to generation.鈥�

Effective communication with local customers was a challenge for Ms. Manto of Zuwa Enterprises, prompting her to turn to technology and use artificial intelligence translation tools to understand and engage with Nepali customers.

Her advice to fellow entrepreneurs is grounded in her own experiences.

鈥淲e need to have persistence because the market is not constant; sometimes it鈥檚 up and sometimes down, so you have to be patient and consistent with your marketing strategies,鈥� Ms. Manto said.

The company expects that 鈥渁 number鈥� of its aircraft will be affected next year. As such, 鈥渢he growth rate for 2024 will be revised downwards,鈥� Cebu Air said in a disclosure to the stock exchange on Friday.

鈥淭here is no immediate impact on our operations, but we expect that this will affect our fleet availability in 2024,鈥� the company noted. 鈥淲e would like to assure our passengers that this is not a safety issue.鈥�

Cebu Air also said that the inspection is aimed at ensuring the 鈥渃ontinued safe operation鈥� of its P&W-powered aircraft fleet.

The budget carrier anticipates having 76 aircraft in its fleet this year and is initially expected to expand to 91 aircraft by 2024.

It is the youngest fleet in the Philippines and includes 25 P&W-powered Airbus aircraft, according to the airline.

鈥淧&W understands the importance of its partnership with Cebu Pacific and has committed to working closely with us to minimize any potential impact that this issue may have on our operations,鈥� Cebu Air said.

鈥淕iven the complexity of the situation in the near term, P&W assured us that it has aligned the expertise and resources needed and will work with its partners to resolve things as efficiently as possible,鈥� it added.

Sought for comment, Rene S. Santiago, former president of the Transportation Science Society of the Philippines, said that this will result in 鈥渞educed flying hours鈥� for Cebu Pacific.

“This would translate to fewer flights that it can support,” he said in a phone message. “The airline can either cancel some flights on its published schedule or load the same timetable on fewer aircraft.”

“For passengers, this means fewer seat miles for the first option and flight delays for the second option,” he added.

Cebu Pacific Chief Commercial Officer Alexander Lao informed senators during a hearing in July, prompted by customer complaints, that the Pratt & Whitney engine problems have been impacting the global aviation industry.

He said that restoring an engine would now take 220 days instead of the industry norm of 90 days.

Aerospace and defense company RTX Corp., the parent of Pratt & Whitney, has said that around 3,000 engines require inspection.

India鈥檚 Directorate General of Civil Aviation has reported three instances of engine failure in IndiGo flights and has recommended that Pratt & Whitney investigate the possible cause, the ministry said in a statement.鈥� Arjay L. Balinbin and Miguel Hanz L. Antivola with Reuters

鈥淚n the dynamic landscape of small business ownership, the demands of daily operations such as storing, picking, packing, and logistics coordination can be overwhelming 鈥� leading emerging entrepreneurs to lose focus on the bigger picture of furthering their ventures,鈥� FullFill (We Empower Ecommerce Solutions, Inc.), a Pasig City-based fulfillment support hub, said in a press release on Thursday.听

According to Straits Research, companies without sufficient internal warehouse space for efficient inventory management and those unwilling to allocate extra resources for shipping will find that a fulfillment center offers an optimal solution.

鈥淭he rise of e-commerce worldwide and the subsequent increase in people shopping online due to this trend, particularly in developing economies, is driving the demand for e-commerce fulfillment services,鈥� the research firm said in a statement.

FullFill, which supports the operations of small businesses based in Manila and various parts of the country, said that the fulfillment services sector helps boost growth and create stability among entrepreneurs who aim to professionalize and scale their ventures.

The company currently provides fulfillment services and micro-warehousing support for home-based entrepreneurs.

鈥淭he concept was curated to help entrepreneurs who want to expand their business in Manila but don鈥檛 have the capacity to set up a new team,鈥� FullFill said.

The company noted that it has started offering temperature-controlled shelf spaces that can maintain a temperature of approximately 24 to 26 degrees Celsius. This expansion caters to a broader range of temperature-sensitive products such as vitamins, health supplements, skin care, and more.

According to an analysis report by Grand View Research, the size of the worldwide market for e-commerce fulfillment services was assessed at $97.33 billion in 2022. The report forecasts a compound annual growth rate of 13.9% from 2023 to 2030. 鈥� Arjay L. Balinbin

The job-seeking platform is also studying to offer certifications through its partners, said Chook Yuh Yng, chief growth officer at SEEK Asia, JobStreet鈥檚 parent company, during a briefing.

JobStreet does not intend to compete with established educational platforms like Coursera and Udemy, which offer paid certifications, she told 大象传媒.听Instead, seekMAX, currently accessible for free, sets itself apart by providing content intentionally curated for job seekers, she noted.

Citing its own report, JobStreet said that 75% of Filipinos willing to retrain prefer self-study and 65% use digital learning platforms.听

The top five in-demand skills in the Philippines are digital literacy, adaptability, interpersonal skills, multitasking efficiency, and time management, according to the platform.

鈥淐andidates need to continue upskilling not only for professional growth but also for honing their soft skills which is what most industries look out for nowadays more than the candidate鈥檚 proficiency in their technical skills,鈥� said Dannah Majarocon, JobStreet Philippines鈥� managing director.

According to JobStreet, the top 10 in-demand jobs in the Philippines are customer service representatives, teachers, administrative officers, call center operators, nurses, software engineers, team leaders, business analysts, sales associates, and engineers.

In June, the unemployment rate reached a three-month high due to lower job quality.听

According to the Philippine Statistics Authority, the rate increased to 4.5% in June from May鈥檚 4.3%, representing the percentage of jobless Filipinos in the labor force. This was still lower than the 6% recorded in June 2022.

Around 2.33 million Filipinos were unemployed in June this year, up by 159,000 from May, yet notably down by 663,000 compared to June 2022鈥檚 2.99 million unemployed individuals.

鈥淚nitially launched in Indonesia in 2022, seekMAX successfully reached over 2.5 million users who have consumed 6.5 million minutes of content on the platform,鈥� JobStreet said.

The top content categories include job search tips, career guidance, salary advice, and self-improvement, it noted. 鈥� Arjay L. Balinbin

鈥淕lobally, the skills required for jobs have changed by 25% since 2015,鈥� LinkedIn said in an e-mailed statement on Thursday, citing its 鈥淭he Global Future of Work Report: State of AI @ Work.鈥�

In the Asia-Pacific region, this rate of change has been even more rapid. Skill requirements for the same positions have transformed by 36% in Singapore, 31% in the Philippines, 30% in India, and 27% in Australia since 2015, according to the platform.

As per LinkedIn, some of the most sought-after skills in the Philippines are soft skills.

鈥淐ompanies prioritize skills such as customer service, management, and communications to help their workforce navigate complex work situations, build relationships, and achieve results,鈥� it said.

Many professionals are already looking to expand their skill sets and leverage AI, it noted.听鈥淐ompanies, too, are already increasing their hiring of professionals with AI skills.鈥�

It said that the portion of global English job postings that mention GPT or ChatGPT has risen 21 times since November last year.

AI talent recruitment has grown faster than general hiring in the APAC region. This shows that companies are currently hiring more AI professionals compared to 2016, with figures like 24% in Japan, 20% in Indonesia, and 14% in Singapore, according to LinkedIn.

鈥淚n 2016, only three out of every 1,000 members globally could be considered AI talent. By 2022, that number had increased to 17 in 1,000 (based on the median share of AI talent across 25 countries),鈥� it said.

An individual, according to LinkedIn, qualifies as AI talent if he has incorporated AI skills like machine learning into his profile, or if he is in an AI-related job.

On a worldwide scale, there has been a 75% rise in members including generative AI-related keywords on their profiles every month from January to June 2023.

In the Philippines, approximately 5,000 professionals have indicated 鈥渁rtificial intelligence鈥� as a skill in their profiles, LinkedIn said. 鈥� Arjay L. Balinbin

鈥淭he research finds around three in four consumers (76%) would welcome more information about how to be more sustainable, [and] the proportion is highest in the Philippines (93%), Indonesia (91%), and the United Arab Emirates (90%),鈥� Alibaba said in a news release on Monday.

The study, titled 鈥淭he Sustainability Trends Report 2023鈥�, surveyed more than 14,000 consumers from 14 markets across Asia, Europe, and the Middle East, according to the company.

It found that convenience (53%) and affordability (33%) are critical for driving behavioral changes in consumer sustainability, suggesting that businesses can help consumers make sustainably conscious choices.

According to the study, many consumers are cynical (38%) about the motives behind businesses鈥� 鈥渟ustainable鈥� products, and only 15% fully trust sustainability claims.

鈥淎s a digital platform company, Alibaba is uniquely positioned and committed to addressing the 鈥榮ay-do鈥� gap challenge; by reducing the inconvenience obstacle, adding more sustainable choices, and optimizing supply chains to keep costs reasonable for consumers,鈥� said Liu Wei, Alibaba Group鈥檚 environmental, social and governance (ESG) strategy lead.

鈥淪ustainable consumption is crucial for the environment, and in the meantime it provides a great opportunity for businesses, as well as the digital economy as a whole, to have a long-lasting development into a sustainable future for all.鈥�

Based on the study, more than half (58%) of consumers have already embraced sustainable practices and feel they are making significant efforts.

There is a general willingness (73% on average) to learn about sustainable online purchasing methods, indicating an openness to receive more information on the topic, the report noted. 鈥� Arjay L. Balinbin

SINGAPORE 鈥� ManageEngine, the enterprise IT management software division of Zoho Corporation Pte. Ltd., plans to expand its presence in the Philippines, capitalizing on the surge in e-commerce transactions and the rapid adoption of technology among small- to medium-sized businesses (SMBs), according to the company鈥檚 top executives.

Arun Kumar, ManageEngine regional director for Asia-Pacific, disclosed the company鈥檚 plan to leverage the favorable market trend during an interview on Tuesday.

鈥淭he hub office, serving as our regional office, is located in Singapore,鈥� he told reporters. 鈥淲e aim to establish offices in all markets, including the Philippines, once we have established a local team there.鈥�

Present in the Philippines since 2004 or 2005, ManageEngine currently serves approximately 600 customers in the country, Mr. Kumar noted.

The 20-year-old company, which operates in 190 countries, has also established teams in Indonesia, Malaysia, Thailand, and Vietnam.

鈥淲e are currently seeking technical professionals with domain expertise in IT management for our expansion efforts,鈥� Mr. Kumar said on the company鈥檚 expansion plans for the Philippines.

鈥淭heir primary function will involve engaging customers and empowering partners,鈥� he added.

The company is also seeking marketing professionals to improve brand awareness, expand market presence, and facilitate channel enablement.

At the same time, Mr. Kumar highlighted the growing e-commerce landscape in the Philippines, emphasizing the need for robust IT management solutions to ensure seamless business operations amid the surge in online transactions.

In Southeast Asia, there are up to two million unique merchants currently transacting on e-commerce platforms, he said.

According to logistics platform Locad, the Philippine e-commerce market is projected to grow by 15%, reaching a minimum of $16 billion in 2023. By 2025, it is expected to reach $24 billion.

The increasing adoption of technology by SMBs in the Philippines further emphasizes the demand for efficient IT management tools, Mr. Kumar said.

He noted that in Southeast Asia, there are up to seven million small-to-medium-sized restaurants operating on food delivery platforms.

鈥淚t is equally important for these SMBs to invest in IT as they embark on the digital route for business innovation, continuity, and other purposes,鈥� Mr. Kumar said. 鈥淭hey need robust IT management and cybersecurity tools. These are some of the growth engines we are focused on for the future.鈥�

For his part, ManageEngine President Rajesh Ganesan highlighted the need for new operating models in today鈥檚 business landscape, adding that the shift to digital experiences has transformed every aspect of enterprises, affecting organizations across industries.

Mr. Ganesan identified the workforce, workplace, and workload as the key areas driving significant changes in digital operations.

ManageEngine is holding its first user conference in Southeast Asia from July 5 to 6 at the Sands Expo & Convention Center in Singapore. The primary objective of the conference is to gain a deeper understanding of the customers鈥� needs, foster networking opportunities, discuss prevailing IT trends, and gather valuable feedback, Mr. Kumar said.

鈥淎s a company, we have evolved by actively listening to our customers, identifying their pain points, and developing products to address those challenges,鈥� he added.