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COVID-19

Innovation

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University of Experience

People & Culture

Infrastructure

Aboitiz InfraCapital Breaks Ground On New Commercial Lots, Expanding First CBD In Batangas

Banking and Financial Services

UnionBank, Leon Gallery Host Timely Discussion On NFT Art

Innovation o’Clock: It’s Time for the IT Genius Hour!

Land

AboitizLand Partners with SMCC Philippines, Pushes Innovation in Construction Using Japanese Precast Technology

Aboitiz Group Advisory to External Stakeholders regarding COVID-19

2019 Bankers’ Night

2019 Brigada Eskwela Cebu

Aly Virrey

The development is the third and last phase of the commercial lot inventory
within the LIMA Central Business District
Aboitiz InfraCapital (AIC), the infrastructure arm of the Aboitiz Group, broke
ground on a new phase of Commercial Lots within the 30-hectare LIMA Central
Business District (CBD)— the first CBD development in the province of Batangas. 

LIMA Land President and Aboitiz InfraCapital Economic Estates Head Rafael
Fernadez De Mesa welcomed guests at the Groundbreaking Ceremony and revealed
future plans for the LIMA Central Business DistrictThe new phase is the third
and last phase of the commercial lot inventory within LIMA CBD located inside
LIMA Estate. AIC is currently offering commercial lots to investors looking to
capitalize on the anticipated economic expansion outside Metro Manila. 

Lot sizes range from 1,800 up to 5,000 square meters, developed to suit the
needs of BPO companies and traditional offices, condominiums, dormitories,
hotels, schools, and hospitals. 

Investors in these commercial lots will become part of an already thriving CBD
that is very much a part of the everyday lives of Batangueños. Currently housed
within the CBD are various commercial components such as The Outlets at Lipa,
LIMA Exchange, LIMA Park Hotel, LIMA Transport Hub, and rising quickly is LIMA
Tower One, a PEZA-certified and BERDE-accredited green building which is the
first of a planned seven-tower office park right at the heart of the CBD —
slated for completion in early 2024. 

During the groundbreaking ceremony, LIMA Land, Inc. President and AIC Economic
Estates Head Rafael Fernandez de Mesa highlighted how LIMA Estate is currently
home to 140 world-class companies and leaders in the industry, that directly
employ over 60,000 people, and how the company envisions LIMA CBD to continue to
create high value-added jobs outside of the National Capital Region (NCR).

“Industry has been the catalyst for what LIMA Estate has become, but LIMA Estate
is quickly emerging as more than just a leading industrial estate, it is also
quickly becoming a center for commerce in the Batangas province. Commercial lot
investors will be able to capitalize on a flourishing CBD, while sales to third
parties will further expedite the fulfillment of AIC’s vision of an economic hub
to rival the best in the country,” Fernandez de Mesa said. 

Fernandez de Mesa also shared AIC’s goals in transforming LIMA Estate into a
smart, sustainable estate through the introduction of new product lines, smart
city features, and sustainability initiatives, all meant to cater to
increasingly discerning and sophisticated businesses, while also raising the
standard of development in provincial locations. The recent 5-Star BERDE
Certification from PHILGBC is a testament to this commitment and has made LIMA
Estate the very first Industrial Estate, and the largest project in the
Philippines, to achieve this certification.

Meanwhile, Batangas Governor Hermilando “Dodo” Mandanas welcomed the timeliness
of the expansion, recognizing how LIMA Estate has put Batangas on the map as one
of the country’s investment powerhouses. 

Batangas Governor Mandanas shares his appreciation for Aboitiz InfraCapital’s
contributions to the province’s economic growth.“I would like to recognize the
tremendous contribution of the Aboitiz Group in the development, not only of the
province but also of the region –  the region of CALABARZON. You could see that
it is right now, the premier, number one development in the province of
Batangas. For having this energy, this commitment, this faith, really seeing
that Aboitiz is in the right place,” Gov. Mandanas said. 

(L-R) Ms. Meyrina San Luis of JSL Enterprises, Batangas Vice Governor Mark
Leviste, Ms. Jean Traballo, Division Chief for Domestic Investments Promotions
Service of Bureau of Investments, Honorable Mayor Cristeta Reyes of Malvar, LIMA
Land President and Aboitiz InfraCapital Economic Estates Head Rafael Fernandez
de Mesa, Batangas Governor Hermilando Mandanas, and AECOM Philippines Vice
President Sylvester Wong.Guests from the PEZA, members of the local government
units of Lipa and Malvar, Batangas, alongside affiliates of the Aboitiz Group,
and current locators and brokers of the LIMA Estate all witnessed the
groundbreaking ceremony.

As the country’s largest privately-owned industrial estate, LIMA is a mixed-use
development hosting 140 locators, 167 retail stores and restaurants, the
138-room 4-star LIMA Park Hotel, the LIMA Transport Hub, and over 2,000
households.

Aboitiz Eyes

UnionBank and The Leon Gallery, one the country's most prestigious auction
houses, recently hosted a discussion on non-fungible token or NFT art to deep
dive on how these developments continue to reshape the art scene, as well as
guide artists and art collectors in navigating the emerging space.

The talk was held during an exhibition by Filipino abstract artist Jose Antonio
Reyes (JAR), whose works were showcased at the Leon Gallery last July 18 as a
follow up to his acclaimed NFT art collection, JAR Heads, which was successfully
launched on the Cardano Network with over 1 million in ADA sales in the
secondary market in the span of only six months.

Speaking on his recent successes, JAR shared how NFT art enabled him to have
people around the world appreciate and gain access to his art, and how this
space can afford similar opportunities to other traditional artists.

Joining Reyes in the discussions were RJ Dela Cruz and Migui Planas of
UnionBank's Digital Asset Markets Unit (DAMU), with the latter giving a 101 on
NFT art, its development, and how beginners can competently leverage these
technologies. 

NFT expert and Union Bank Digital Asset Trader Migui Planas goes on a deep dive
into the emerging blockchain-based art space.Meanwhile, DAMU Head Dela Cruz
zeroed in on UnionBank’s activities and developments in the blockchain,
cryptocurrencies, and NFT spaces. He touched on the Bank’s journey into the
emerging space, as well as his personal transition from traditional finance into
the world of digital assets.

One of the highlights of Dela Cruz' talk was UnionBank's Virtual Asset
Over-the-Counter (VA OTC) Service — a first in the industry — which was designed
to create an easy and convenient access for people looking enter into the NFT
art space. UnionBank is the first and only bank in the Philippines to offer this
type of service, further strengthening the Bank’s position as the country's
leader in blockchain innovation.

"Through its VA OTC service, UnionBank provides both artists and collectors
alike with trustworthy platform for buying and selling NFT art," said Atty.
Tonico Manahan, a well-known art collector. "While there are many ways for
people to fund their wallets to buy NFT art or transact with crypto, buying and
selling with the help of a well-established bank ensures that every crypto
transaction is secure."

> It's a way for beginners to have peace of mind in entering the perceived
volatile space given that transacting with a regulated financial institution
such as a bank would be secure.

—JAR
To know more about UnionBank's VA OTC service and other solutions related to
NFTs, please send an email to digitalassets@unionbankph.com.

Rachell Janine Leyva

As we build and nurture innovative, agile, and entrepreneurial behaviour among
our A-People, it is no secret that innovation is a major driver in our quest
towards our Great Transformation and becoming the first Philippine
techglomerate. No doubt that one department that would be at the forefront of
this challenge is the AEV  Information Technology (IT) Team.


After the ADEA Innovation Program was launched, the IT team instituted the IT
Genius Hour. The IT Genius Hour is a depiction of Google’s innovation practice.
This program allows IT team members to use 10-20% of their work week to explore
innovation projects of their choosing that will benefit the organization.

In an effort to foster the value of innovation,  continuous collaboration and
employee engagement within IT, we had two running programs, BFF (Beer Friends
Forever) and GT Sharing (Great Transformation) . These two programs were avenues
for our team members to connect and share ideas on topics relevant to our
functions. Seeing an influx of innovative ideas and purposeful ideas during
these sessions, we decided to streamline the activity and refine the process in
line with ADEA. 


Thus, the IT Genius Hour was born.




The IT Genius Hour, done during C-Focused Fridays, is composed of 6 Ps namely -
Passion, Pitch, Probe, Plan/Project, Product and Presentation. These steps are
aligned with ADEA’s recommended design thinking process of idea generation and
co-creation, experimentation, implementation and communication, engagement, and
sharing of lessons learned.


This year, we are targeting the achievement of a 5 rating on our Innovation KPI
and 100% team member participation in all our activities. We are glad to have
developed this safe space where all team members feel comfortable to speak up
about their ideas and have provided an avenue for the team to enhance their
presentation skills.


We also put great focus on providing and accepting feedback, and continuously
striving for improvement after both success and failure.

Let us think like a scientist and encourage creativity. 

Together, let us unlock our innate genius!

UnionDigital Bank (UnionDigital), the wholly-owned digital banking subsidiary of
UnionBank, has officially begun operations as one of the country’s first digital
banks upon approval from Bangko Sentral Pilipinas (BSP).
UnionDigital Bank aims to building a connected, financially inclusive, and
Tech'd Up Philippines.“I am proud to announce that UnionDigital Bank has
received approval to operate from the Bangko Sentral!” exclaimed UnionDigital
co-founder and CEO Arvie De Vera in a LinkedIn post
[https://www.linkedin.com/pulse/uday-uniondigital-bank-receives-approval-operate-arvie-de-vera]
. “This is the final step in an arduous 3 stage application process, and now, we
are officially operational as a bank.”

In a disclosure posted in the Philippine Stock Exchange, UnionBank revealed that
BSP awarded a certificate of authority granting UnionDigital Bank Inc. a license
to operate last July 12, making the Bank one of only six digital banks approved
by BSP to operate in the country.

“UnionDigital Bank reimagines banking without branches, paper, vaults or
outdated frameworks, allowing us to build what we have always envisioned for the
Philippines—A teched up nation where the best financial solutions are available
to all communities, regardless of occupation, wealth, or location,” he shared.

De Vera continued, “Why shouldn’t our farmers or tricycle drivers have access to
the best-in-class financial technologies? Why shouldn’t people who use virtual
assets like NFTs and crypto have access to regulated banking? What good is
prosperity as a country if it isn’t inclusive?”

Since being granted approval, the UnionDigital has already made strides in its
goal to promote financial inclusion as it entered into a partnership with
Singapore-based Nexus Enterprise Technologies Pte. Ltd. (Nexplay), which manages
e-sports teams and serves as a video game content platform.

The partnership, according to De Vera, allows UnionDigital to offer its
financial services to Filipino gamers, giving them access to a digital bank
account. “Nexplay opens opportunities for us to engage our country’s digital
natives in platforms they are quite familiar with games. This is particularly
important if you consider the rise of play-to-earn gaming and content streaming
in the Philippines,” he explained.


--------------------------------------------------------------------------------

Continue scrolling below to watch UnionDigital's UDay Launch Video Recap:

UnionDigital Bank Granted BSP Approval To Start Operations

Franzia Marie de Leon

Pilmico Foods Corporation (Pilmico), as the Aboitiz Group’s Food subsidiary, has
always lent a helping hand in various causes — from disaster relief operations,
feeding programs, and livelihood programs, especially in the communities where
they are present in the Philippines. 


And in 2018, Pilmico strengthened its presence across the Asia Pacific with the
acquisition of the Gold Coin Group. With this, they have expanded their
footprint business-wise, and more importantly, their corporate social
responsibility (CSR) initiatives to these countries. 



Making students happy during China’s Children’s Day

Qinzhou 38th Primary School received sports equipment and school supplies kit
from Gold Coin in celebration of Children’s Day last June 1.June 1 marks the
Children’s Day celebration in China, to celebrate the presence of kids and the
youthful energy they bring. To commemorate this special day, team members of
Gold Coin China donated sports equipment and school supplies for the students of
Qinzhou 38th Primary School. 


Mai ZengDong, School Principal of Qinzhou 38th Primary School, said his
appreciation for Gold Coin. “All of us are very grateful for your donation to
Qinzhou 38th Primary School during the national statutory Children’s Day. We’re
sure your kind actions will bring a smile to our students,” he said.


This initiative is Gold Coin’s contribution to the government’s “Children’s Day
Education Assistance” program. 


Keeping beaches and the environment clean in Malaysia

Team members of Gold Coin Malaysia put up signboards about responsible waste
disposal at Tanjung Purun beach in Labuan, Malaysia.‌‌Meanwhile, team members of
Gold Coin Malaysia spent their Saturday morning at Tanjung Purun beach in
Labuan, Malaysia last June 25, 2022, to conduct a beach cleaning activity. 


The clean-up drive aims to promote awareness of preserving the local beaches and
taking care of the environment. Staff members of Gold Coin partnered with
Perdabanan Labuan, the area’s local government unit, in collecting trash and
installing signboards to remind beach-goers to be responsible for their waste.


Dato’ Dr. Hj Otman Bin Che Jusoh, Assistant Chief Executive Officer of
Perdabanan Labuan, thanks Gold Coin for its activity. “We welcome Gold Coin
Feedmill (Sabah) Sdn. Bhd CSR activities in cleaning  Tanjung Purun Beach area
as well as the contribution and installation of signboard and rubbish bin in the
area as part of our joint role in taking care of our environmental cleanliness
and preserving the beauty of Labuan Island,” he said.


Since Pilmico’s establishment nearly 60 years ago, the value of responsibility
has been embedded in its core. Through the acquisition of Gold Coin, the mission
to Feed Humanity is not anymore confined in the Philippines, but also extends to
the rest of Asia Pacific. 


These initiatives held in China and Malaysia are just a few of the many programs
lined up by Pilmico and Gold Coin for their communities in the years to come.

Food

Aboitiz’s CSR Footprint Reaches Asia Pacific Through Its Food Group

LIGTAS NA BALIK-ARAL: City Savings Bank supports the Department of Education
(DepEd) advocacy for a safe school environment through the Brigada Eskwela
program. DepEd officials led by Vice President and Education Secretary Sara
Duterte (2nd from left) and Usec. Legislative Affairs and International
Cooperation Office Gerard Chan (leftmost) interacts with external partners
during the Brigada Eskwela National Kick-off at Imus Pilot Elementary School,
Imus, Cavite last August 1, 2022.As the country prepares for the gradual
resumption of face-to-face classes, the Department of Education (DepEd) together
with its external partners launched Brigada Eskwela 2022 with the theme “Tugon
sa Hamon ng Ligtas na Balik-Aral” at Imus Pilot Elementary School, Imus, Cavite
last August 1.

With education-focused initiatives at the core of its Corporate Social
Responsibility, CitySavings continues to support the safe opening of the new
school year this August. This year, the Bank has committed to helping 200
beneficiary schools nationwide.

On top of safety and sanitation essentials, CitySavings will also provide
medical devices and equipment, learning and teaching supplies, technology
support, and emergency kits. To further co-create a safe learning environment,
the Bank will also help with the maintenance and repair of handwashing
facilities, comfort rooms, and classroom facilities.

During the national kick-off, Vice President and Education Secretary Sara
Duterte expressed her appreciation to all education stakeholders for ensuring
the safety of students and teachers as they return to in-person classes.

In a press statement released by DepEd, Vice President Duterte mentioned “With
the national government supporting DepEd with the Basic Education Development
Plan 2030 serving as our guide, the success of the Department’s plans and
programs shall now be completed by undying love for the profession of teaching
Filipino children, our children, the future of our nation”.

The Bank and its team members have actively supported and volunteered at Brigada
Eskwela activities since 2010. CitySavings is focused on providing relevant,
accessible, and sustainable CSR programs as it elevates the lives of people of
moderate means.

CitySavings Co-creates A Safe School Environment With 
Vice President And DepEd Secretary Sara Duterte Through Brigada Eskwela

Techglomerate CEO pledges Aboitiz Group’s commitment to global economic
sustainability
SMA represents the Group as a Steward in the global Council for Inclusive
Capitalism. Aboitiz is one of the largest conglomerates in the Philippines with
interests in energy, banking, food, real estate, infrastructure, construction,
technologies, data science and artificial intelligence.The Aboitiz Group
announced that its president and CEO Sabin Aboitiz has accepted an invitation to
become a Steward of the Council for Inclusive Capitalism (CIC), a global
nonprofit organization that combines moral and market imperatives to help build
a more inclusive, sustainable, and trusted economic system for the world.

> I am thrilled to welcome Mr. Sabin Aboitiz to the Council and look forward to
working with them as they take the necessary actions to ensure a better future
for us all. 

—Meredith Sumpter, CEO, CIC.
The Aboitiz Group, widely recognized as one of the best-managed companies and
sustainability leaders in the Philippines, was invited to join the Council for
its strong business leadership in power, banking, food, infrastructure, land,
construction, shipbuilding, and technology. Through these industries, the group
plays a critical role in the country’s economic development by providing
life-essential products and services to one-fifth of the Philippine population.

Aboitiz’s acceptance of his new role and responsibilities in the Council
appropriately comes six months into what he calls his Group’s “Great
Transformation” into the Philippines’ first techglomerate — an across-the-board
initiative to supercharge the entire group’s DNA through hyper-innovation and
the cultivation of a more modern and progressive startup-like culture.

Aboitiz introduced the bold move in the beginning of the year and with much
support from the group’s workforce known as “A-People,” continues to champion it
as “an urgent imperative for survival, success, and sustainability.”

This transformation is directly aligned with the Council’s objectives in more
ways than one. As a more climate-conscious techglomerate, Aboitiz committed to
exploring decarbonization solutions that will balance society's demand for
equitable products and services with environmental impacts.

The Group's power division, Aboitiz Power, is increasing its renewable energy
capacity to achieve a balanced 50:50 renewable and thermal energy portfolio by
2030. The power company will also no longer be investing in any new coal
capacity.

Moreover, with the startup of Aboitiz Data Innovation last year, the group is
now utilizing data science and artificial intelligence to make group-wide
operational decisions that are much more cognizant of environmental and societal
concerns.

This is particularly prominent in the Group’s two biggest business units:
Aboitiz Power where they are using data science to maximize resources and
minimize its carbon footprint. And UnionBank where they are leading the way in
using technology to develop inclusive approaches to financial services and be
able to reach the unbanked population of the country.

> I am honored to be part of an organization that brings people from all over the
world together to make sure the capitalist ideal of a global free market economy
remains beneficial for all people everywhere, without exception, preference, or
prejudice.

—SMA
The Group was also recognized in the Asean Tech Awards for ESG for the
innovations that led to sustainable outcomes for its stakeholders.

Ultimately, being part of the Council strengthens Aboitiz’s commitment to
sustainability and ESG practices, and the fulfillment of its brand promise of
advancing business and communities.

SMA Joins Council For Inclusive Capitalism

AboitizLand and SMCC Philippines join forces to guarantee the durability and
quality of homes in The Villages at Lipa in Batangas. The precast concrete
technology by SMCC Group, one of the world’s front-running contractors in that
field, will further enhance the value of residential properties in LIMA Estate,
a 700-hectare industrial park also developed by AboitizLand.AboitizLand
officially welcomes a new partner, the Philippine subsidiary of Sumitomo Mitsui
Construction Co., LTD, SMCC Philippines, Inc., in bringing meaningful innovation
to its residential projects with the introduction of Japanese precast concrete
technology. The collaboration between the two leading companies ensures that
sustainable and high-quality housing materials are used in the construction of
residential units in The Villages at Lipa located in LIMA Estate, Batangas. 

During the recent ceremonial partnership awarding event at the Aboitiz
headquarters in Bonifacio Global City, AboitizLand CEO and President David
Rafael and SMCC Chairman Dr. Hideo Arai were in attendance as signatories.
Joining them as witnesses are Miguel Mendoza, Vice President for Residential
Operations, Jade Garzon, AboitizLand Assistant Vice President for Construction
Management, Yoshiki Tsuji, Sumitomo Senior Managing Executive Officer, Division
Director (Global Division), and Hiromichi Tatsuzawa, SMCC General Manager.  They
were joined by representatives from both firms as well as project leaders and
team members of The Villages at Lipa.

Reshaping the Industry
Rafael explains why the collaboration is important to the local real estate
market: “For The Villages at Lipa, SMCC will produce the precast panel and
structural shells in the housing projects. This means that Lipeño property
owners can now experience firsthand the benefits of this high-strength concrete
technology that ensures resilience against natural calamities, as well as
improved schedule of unit turnover.”

AboitizLand innovates ways to bring more Filipinos home as it partners with SMCC
Philippines for Japanese precast technology. Watch this video for a recap of the
recent partnership awarding ceremony last July.Precast concrete technology was
previously used mainly in civil and industrial applications but is now being
utilized by the residential development industry around the world to add
high-quality value to developments, and minimize labor shortages and
construction delays. Since a number of components are being produced in a
movable precast plant away from the construction site, one of the outcomes is
greener construction as it reduces construction noise and pollution in highly
urbanized areas. Another result is improved construction quality, owing to the
regulated plant setting.

As Japan is prone to temblors, the cutting-edge innovation of SMCC ensures that
its construction products are also earthquake-resistant structures, in addition
to their being fire- and deterioration-resistant. With SMCC set to attain the
international standard for construction performance and Japan’s Supreme Quality,
clients of its partner AboitizLand can trust that their residential investments
are being built with the most reliable pre-cast technology in the world today.

Expressing excitement about the partnership, Dr. Arai gives his full support to
SMCC Philippines in introducing such an advanced construction methodology that
will help create future-ready houses in the Philippines. “By introducing such an
advanced precast concrete technology to the construction of modern houses, the
single family home sales market in the Philippines will find more value for its
quality and durability.”

Mission: Innovating Ways to Lead More Filipinos Home
Even more now as a developer with a national presence—and one that has
consistently earned critical acclaim for its house and community
designs—AboitizLand is steadfast in its mission to innovate the living
experience of Filipinos. “Our work with international experts is just one of the
ways by which we add value at every stage of our project development,” Rafael
adds. 

AboitizLand’s The Villages at Lipa aligns with the sustainability pushes of LIMA
Estate, a smart economic center which will be home to the first central business
district in Batangas. With a well-connected ecosystem, property owners have easy
access to the various components there: LIMA Exchange for daily errands; The
Outlets at Lipa and Aboitiz Pitch for retail, leisure, and dining enjoyment; and
LIMA Technology Center and LIMA Business District for work and commercial
purposes. 

To learn more about the development in Lipa, interested homebuyers are invited
to schedule a viewing that follows national health and safety protocols via 
https://www.facebook.com/TheVillagesAtLipa, or tour the site virtually through
http://aboitizland.com/the-villages-at-lipa/.

Union Bank of the Philippines announced on August 1 that it has completed the
acquisition of Citi’s consumer banking business in the Philippines. 
Done Deal. The official signing was led by UnionBank President and Chief
Executive Officer Edwin R. Bautista (3rd from left), and Citi Philippines Chief
Executive Officer and Country Officer Aftab Ahmed (4th from left.) They are
joined by (left to right) Consumer bank head Manoj Varma, UnionBank Chief
Customer Experience Officer and Chief Digital Channels Officer Ana A. Delgado,
Citi Philippines Country Counsel Atty. Pia Lacson and UnionBank Treasurer and
Global Markets Head Jose Emmanuel Hilado.Speaking on the groundbreaking deal,
UnionBank Chief Customer Experience Officer and Chief Digital Channel Officer
Ana A. Delgado said, ”This acquisition accelerates our goal of becoming a great
consumer bank in the Philippines with one of the most diversified consumer
banking portfolios among the listed banks today. With the acquisition of the
Citi consumer business, we are now strong across three consumer businesses,
namely: credit cards, salary / personal loans and mortgage loans.” 

Meanwhile, UnionBank President and Chief Executive Officer Edwin R. Bautista
described the acquisition as a "game changer" for both the Bank's employees and
especially its customers. 

> We are now a much larger consumer bank. We added a consumer portfolio that is
well-run and very profitable. This will provide us better margins and allow us
to maintain our industry-leading ROE moving forward. Over 1,500 top talents from
Citi, including its Senior Management Team, will be joining UnionBank. This
further deepens our leadership bench. I am confident that, together, we will be
able to bring the best customer experience and serve many more market segments
and communities through innovation and collaboration.

-Edwin R. Bautista, President and CEO, UnionBank 
This was echoed by Delgado, who emphasized that the potential  synergies across
both organizations will allow UnionBank to unlock tremendous value by enriching
its customer proposition and elevating customer engagement. 

"As we work to bring new and exciting products and services to our customers, we
are committed to ensuring that the same level of experience will continue for
the 1 million customers that are moving to UnionBank. To deliver on this
commitment, we have set-up a dedicated integration team and are working closely
with Citi to ensure a smooth transition,” she added.

UnionBank is the 7th largest publicly-listed bank in the Philippines and is
widely recognized as the leading digitally transformed and most innovative bank
in the industry. With the Citi consumer portfolio, UnionBank will become part of
the top 3 credit cards issuers in terms of usage and spends. 

The transaction will be effected via (i) an asset and liability transfer of the
consumer banking activities of Citibank, N.A., Philippines Branch, (ii) the sale
of the shares in Citicorp Financial Services and Insurance Brokerage
Philippines, Inc., and (iii) and the sale of the real estate shares in Citibank
Square building in Eastwood, Quezon City. 

The total cash consideration is based on the net assets of the Citi Philippines
consumer banking business plus a premium of Php 45.3 billion. Based on the
closing statement as of 30 June 2022, the net asset value of the business was at
Php 26.71 billion.

UnionBank Completes  Acquisition Of Citigroup’s Consumer Banking Business In The Philippines

PERA HUB [https://perahub.com.ph/] has launched a new sub-brand for its business
partners: PERA HUB Remit Partner. This aims to mutually promote their brand
alongside PERA HUB’s wide array of products and services, ultimately addressing
the growing demands of customers today.
Customers can conveniently transact and avail of PERA HUB’s products and
services in over 3,000 PERA HUB Remit Partner locations and PERA HUB branches
nationwide.The launch of the PERA HUB Remit Partner brand was driven by the
company’s vision to strengthen its retail network and make products and services
more accessible to customers in over 3,000 PERA HUB Remit Partner locations
[https://perahub.com.ph/branches/] nationwide.

This move allows customers to have more options as they can enjoy PERA HUB’s
products and services not only in its company-owned branches but also through
its continuously expanding network of business partners. These services will
include the availability of international and domestic remittance brands such as
Western Union, Transfast*, and Remitly; bills payment, cash-in and cash-out
services, microinsurance products, and digital products such as PERA HUB Mobile
and PERA HUB Visa Prepaid Card.

Through this initiative, the company’s prominent partners such as Sinag
Pawnshop, SMJ Pawnshop, H. Lhuillier Pawnshop, Tiwala sa Padala (Tambunting
Pawnshop), Jackie’s Foreign Exchange and Money Transfer, Bongabong Pawnshop, De
Leon Pawnshop, and LBC, among others will now carry the brand, PERA HUB Remit
Partner.

PERA HUB’s business partners San Nicolas Flowershop in Ilocos Norte and JLVG
Pawnshop in Pampanga are seen carrying the PERA HUB Remit Partner brand through
exterior signages.Likewise, this will help partners - particularly the micro,
small, and medium enterprises (MSMEs) to further position their businesses in an
ever-dynamic, niche-based remittance industry. PERA HUB recognizes that MSMEs
play a pivotal role in engaging customers within their respective communities,
making transactions easier, simpler, and closer to home.

PETNET President and CEO Ian T. Ocampo highlighted the importance of
strengthening the partnership with PERA HUB’s network by continuously supporting
its business partners to bounce back as the economy reopens.

“Now more than ever, we would like to emphasize the presence of our network that
has been with us since the very beginning. We aim to do this not only by
strengthening our affiliation with them but also by extending new revenue
streams which allow them to welcome new customers while enabling us to serve
more people in different communities. This way, we get to give more value to
their business and the community,” Ocampo said.

Now on its 24th year, PERA HUB continues to expand its growing portfolio of
services to support and utilize its partner locations to extend financial
services to more Filipinos in different parts of the country. PERA HUB’s Remit
Partners consist of pawnshops, rural banks, remittance centers and money
changing centers, with more partners to be onboarded in the upcoming months.

For businesses that are interested to offer their products and services in PERA
HUB’s retail network, please email customercare@perahub.com.ph

*Transfast provides cash pickup services at Transfast-branded cash payout
locations

PERA HUB Unveils PERA HUB Remit Partner Brand For Sub-agents, Offers More Remittance And Financial Services In Over 3,000 Locations Nationwide

Anti-Red Tape Authority (ARTA) Officer-In-Charge Usec. Ernesto Perez thanks the
Aboitiz Group for helping ARTA reach its goals during the recent Memorandum of
Agreement signing for ‘Project PinasBilis’.To support the efforts of the
government in building its capability to ensure a quick, responsive, and
citizen-centric service, the public and private sector have come together to
launch “Project PinasBilis: ‘Serbisyong publiko, pinabilis’”, an initiative that
will strengthen the objectives outlined in the Republic Act 11032 or the Ease of
Doing Business Act (EODB) and the Anti-Red Tape Act of 2007.

In a ceremony held on May 31, 2022, the Aboitiz Group through Aboitiz Equity
Ventures, Inc. (AEV) and Aboitiz Foundation, Inc. (AFI), together with the
Anti-Red Tape Authority (ARTA) signed a memorandum of agreement (MOA) that would
put in motion a program that aims to streamline the government processes and aid
in the establishment of infrastructure to transform the country into a conducive
environment for businesses to thrive.

> We just entered a significant milestone that signals the official beginning of
‘PinasBilis’ and highlights our shared commitment to helping national government
agencies and local government units to deliver quick, responsive, and
citizen-centric government service.  We in Aboitiz are thankful to be given this
opportunity. 

-Christopher Camba, First Vice President for Corporate External Relations, AEV
Through this partnership, Aboitiz and ARTA will provide the needed digital tools
and infrastructure to select government offices, as well as facilitate the
necessary training to capacitate the employees from the respective agencies to
ensure the continuity and sustainability of the program.

“Reducing red tape and expediting public service transactions involve undoing
decades of outdated policies in the bureaucracy. These are roadblocks to
productivity and profitability for our investors, whether they are MSMEs trying
to find their place in the sun or large conglomerates trying to better their
position,” AEV Chief External Affairs Officer DJ Sta. Ana, representing Aboitiz
Group President and CEO Sabin Aboitiz, said.

“With Project PinasBilis, we are combining our capabilities to strengthen the
EODB Act further, which will certainly allow us to move many needles. But it
cannot happen in an instant. Streamlining and simplifying the entire process of
setting up a business in our country takes a lot of effort from all involved.
Much work needs to be done and you can count on us to support as much as we
can,” he added.

Moreover, AFI President and COO Maribeth Marasigan detailed the salient features
of the partnership namely, (1) ‘PinasBilis’ will provide capacity-building
programs for select government employees and (2) the program shall identify
national and local government units which are in need of digital tools and
hardware with corresponding training of the frontline personnel — all at no cost
to the government and will be wholly funded by AFI through a PHP3.7 million
grant and the donation of PHP1.3 million worth of hardware.

From left to right: ARTA Chief of Staff and Deputy Director General for
Administration, Finance, and Special Programs Usec. Carlos Quita, ARTA
Officer-In-Charge Usec. Ernesto Perez, Office of the Presidential Adviser on
Streamlining of Government Processes Usec. Gloria Jumamil - Mercado, ARTA
Director General Sec. Jeremiah Belgica, Aboitiz Foundation Inc. (AFI) President
and COO Maribeth Marasigan, Aboitiz Equity Ventures (AEV) Chief External Affairs
Officer DJ Sta Ana and AEV First Vice President for Corporate External Relations
Christopher Camba.Aboitiz and ARTA will establish their respective project
management teams (PMT) tasked to monitor the implementation of ‘PinasBilis,’ as
well as provide the necessary staff support to include coordination with the
pertinent agencies and ensure the judicious management of funds under the
supervision of AFI. Its creation, according to Marasigan, gives the MOA some
flexibility in the selection of participants in the series of capacity-building
programs and to meet the contingencies in the project implementation.

In overseeing its implementation, Aboitiz’s PMT will consist of AEV Corporate
External Relations Manager Fatima Mateo as the Project Lead, along with Ceazar
Ryan Aquino, and Marc Alejo.

> “This Memorandum of Agreement is a culmination of a number of successful
coordination meetings of the ARTA and the Aboitiz Group. We are grateful to
Aboitiz Group for dedicatedly working with our team in the ARTA. After our
several sharing sessions from 2021, we are confident that the ‘PinasBIlis’
project will meet its goal to help us in streamlining and digitizing our
services, especially in the national government agencies and local government
units. 

-Ernesto V. Perez, Officer-In-Charge, ARTA
Established in 2018, ARTA or the Anti-Red Tape Authority is an attached agency
of the Office of the President mandated to implement and oversee a national
policy on anti-red tape and enact the EODB Act.

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