A red oceans of choices and features offering are available for new smartphones in the market today, especially the midrange spectrum. Everyone is considering the popular formula in choosing what is the fitting model for them, that is, the balance between Features and Affordability. In this product review, we will have an early look impression on the talk of the town, Xiaomi Redmi Note 12, plus lots of unboxing angles as bonus for our readers who are on the quest of meeting their dared smartphone model.

The box contains the Redmi Note 12 with non-removable 5000mAh battery, 33W Fast-charging power brick and USB Type C cable, Clear protective case, SIM ejector tool and documentations such as the Quick Start Guide, Warranty Card and Safety Information.

Display 

When choosing a smartphone to use for a year or two, one of the attributes that I check is the Display. When using your phones, the display plays a factor to be efficient. Xiaomi Redmi Note 12 amazes me with what they bring in the table of the midrange population. Sporting a stunningly bright and colorful AMOLED screen with an impressive 120Hz refresh rate. It is even protected with Corning Gorilla Glass build. As a multimedia generation, undoubtedly Redmi Note 12 is one of the leader displays with the 6.67" FHD+ display with DCI-P3. It will serve justice to your imaging, binge watching and even gaming by emulating fluid and responsive experience. We are delighted by the display’s smooth color transitions and gameplay. The high brightness mode allows you to take photos and phone usage on a broad daylight.

Platform 

Another attribute to consider is the hardware and its computing dynamics. At its class Xiaomi Redmi Note 12 is equipped with a Snapdragon 685 Mobile chipset that provides a seamless and efficient multitasking experience. With up to 8GB of RAM, switching between primary apps such as Camera, image processing apps, games and video streaming apps shows no hiccups. The 6nm process allows power-efficiency of the 2.8GHz CPU which keeps the battery operate at its rated capacity. The built in fast storage of up to 128GB gives you freedom on your creatives to capture perfect photos and videos or install creative apps without worrying about running out of space.

Aesthetics

Xiaomi Redmi Note 12 is preaching the design of the Redmi Note 12 Series, an immersive DotDisplay with stylish flat frames, giving off premium look and feel. This is important that while being durable and comfortable enough to hold for long periods of time without straining your fingers and arms.

Redmi Note 12 is available in Onyx Gray, Mint Green and Ice Blue.

Battery

With rich content over internet and demanding data speed processing, I need a device that has battery power juices that can get me through the day and also recharges almost as quickly as possible. Xiaomi Redmi Note 12 is one of the smartphones in the market today whose having a winning combination of generous battery capacity and high wattage power brick. Redmi Note 12 has a 5,000mAh battery and provisioned with 33W fast charging power brick. This long-lasting battery keeps going longer without needing recharging. When power up is needed, the 33W fast charging with MMT technology ensures a stable and efficient process. As I've learned, Middle Middle Tab (MMT) Technology lets you charge your battery smarter and not harder. With MMT technique, the energy is split making it bidirectional charging the same amount of energy and in a half duration.

Camera

The race of the best camera has actually been very interesting at the midrange class. Brands improve and get their midrange protégé out stands from the rest of the pack. Xiaomi Redmi Note 12 is designed with an impressive 50MP triple camera in style, enabling capturing moments and landscape for keeps. It is capable of taking great photos provide you choose the appropriate shooting mode or let the artificial intelligence (AI) decide for you.

Redmi Note 12 also comes with an ultra-wide camera and a macro camera that you can use at demanding situations and purpose.

Sample Pictures

I went on a photo walk within downtown and mid town Cebu City to test the 50M triple camera that Redmi Note 12 can offer. Most of my pictures are AI assisted. They are combinations of the Main camera, 2x Zoom and 0.6 ultra wide camera. The sample pictures are straight-out-of-camera (SOOC) pictures and no editing with an imaging tool is used.  Sample Pictures taken by Redmi Note 12

Summary

Xiaomi Redmi Note 12 is one of the best choice from the competing models of it class. It suits the vibrant lives of the young PH market. For the price tag of 9,999 pesos (6GB + 128GB) you'll get the 120Hz AMOLED display which is a topnotch at this class, above avergage performing Camera trio and Elegant aesthetically finished Redmi Note 12 branding.  There maybe response that would fall off the expectation but we say it's the those things that we can just live with. At this spectrum of smartphones, you wouldn't compare Redmi Note 12's performance to a above 20,000 smartphones, and it should not be.

Committed to support sustainable development and address climate change, the Philippines' leading mobile wallet GCash, together with the Ramon Aboitiz Foundation Inc. (RAFI), are continuing their initiatives to increase forest coverage and enhance existing mangrove areas in Cebu.

Arianne Magtarayo, RAFI Client Engagement Officer; Patricia Manio, GForest Head

Through GCash's GForest and RAFI's One to Tree Program, a total of 1,075,000 mangroves and upland trees have been planted since 2021. For the remainder of 2023, 75,000 more mangroves will be planted, completing the target of 1,150,000 trees spread across three projects in the province.

The two GForests cover the Luyang Watershed in the northern town of Carmen. One project has 375 hectares of farmland in the barangays of Caurasan, Upper Natimao-an, Liboron, Ipil, Cantumog, and Lower Natimao-an. Meanwhile, the other consists of 355 hectares of farmland with planting sites in the barangays of Upper Natimao-an, Corte, Ipil, Caurasan, Hagnaya, Lanipga, and Cantumog.

Among the 600,000 native trees planted in the two GForests are Avocado, Bangkal, Cacao, Cashew, Coffee, Guyabano, Jackfruit, Mamalis, Mangosteen, Molave, Nangka, Narra and Rambutan with a high survivability rate between 92 to 94% as of March 2023.

The Luyang Watershed is a significant ecological area in Cebu as it supplies at least twenty-four thousand cubic meters of surface fresh water. The enhancement of tree cover in the two GForests will improve rainwater percolation.

As a result, this increases the water table under the horizon that supplies springs that support surface water along rivers. The neighboring urban cities of Cebu, Mandaue, and Lapu-Lapu will benefit from this in terms of water supply.

CJ Alegre, GCash Sustainability Head; Estee Plunket, RAFI Chief Communications, Advocacy, and Partnerships Officer; Anton Dignadice, One To Tree Program Director

The third project is GForest Mangroves which aims to plant 550,000 seedlings in Daanbantayan, San Remigio, and Medellin. The three municipalities are facing the Tañon Strait, the biggest marine protected area in the Philippines under the National Integrated Protected Areas System.

As of May 2023, about 47.5 hectares have been covered for enrichment planting with 475,000 seedlings of the Bakhaw Lalaki (Rhizopora apiculata), Bakhaw Babae (Rhizopora mucronata), Bakhaw Bato (Rhizopora stylosa), Bungalon (Aviccenia alba), Miapi (Aviccenia marina), Aviccenia officinallis, Aviccenia rumphiana, Pagatpat (Sonneratia alba), Pedada (Sonneratia caseolaris), and Sonneratia ovata species.

Aside from mitigating the risks of natural disasters and augmenting water supply, the partnership has also helped in the livelihood of local communities. GCash and RAFI have engaged 200 landowners, 687 individuals, and ten people’s organizations in the site preparation, tree-planting, and maintenance activities of the projects.

"GCash is steadfast in playing an active role in minimizing the effects of climate change. Through GForest, we encourage Filipinos to take part in our eco-friendly initiatives and be Green Heroes. With partner organizations like RAFI, we continue to plant the seeds for a better tomorrow,” said CJ Alegre, GCash Head for Sustainability.

"This partnership with GCash allows us to reach more people and enable them to take part in caring for our environment even in simple ways. Through this partnershxqip people can build GForests one tree at a time, and also help in community-building and income augmentation of locals. This is a win for the environment and a win for Cebuanos," said Amaya Aboitiz-Fansler, RAFI President and Chief Executive Officer.

GForest is an in-app feature rolled out in 2019 in line with GCash’s sustainability agenda. Users earn green energy for cashless transactions done in the app such as paying bills, buying load, and sending money. Green energy is collected and used to plant virtual trees.

GCash partners with international and local organizations in planting actual trees around the country. At present, they have planted 2.2 million trees and aim to plant a total of 5 million trees by 2025.

For more information about GForest and other sustainability initiatives, visit www.gcash.com.ph

First heard seven years ago, the term three-wheeler had already set itself apart from the usual last-mile land transportation of the Philippines. Ever since, one brand made it to enrich Filipinos lives and say, “Ito ang No.1 Three-wheeler para sa akin” – Bajaj!

Trusted Worldwide

Believe it or not, this Pinoy favorite is loved worldwide! In 2021, Bajaj recorded an astonishing total of 364,000 unit sales for its three-wheeler category.

Reliable on Long Rides

Long rides without overheating? Bajaj Three-wheeler got you! Its 198.88 CC to 236.2 CC engine and car-type comfort will prepare you for a hassle-free ride.

Aftercare Advantages

Now, with 900+ parts and service shops, wherever you are in the Philippines, Bajaj Genuine AfterCARE is within reach!

Guaranteed Availability

Are you ready to be a Ka-Bajaj? This three-wheeler got you covered! With 1000+ Authorized dealer stores in Luzon, Visayas, and Mindanao - the inquiry to ownership process is a breeze.

Going 100,000 Ka-Bajaj!

“Bajaj ang No.1 Three-wheeler para sa amin,” says Michael Santiago, president of MCMSLA TODA in Antipolo City, whose Bajaj membership has grown from 1 to 100+ in just three years. 

Today, Bajaj Three-wheelers’ power, safety, comfort, and durability are admired by travelers, tourists, and drivers! Will this three-wheeler be your key to success too? Inquire here: https://bit.ly/inquirebajajthree-wheelernow

Talking about unstoppable, HONOR Philippines has just opened its first experience store in Cebu at SM City Consolacion, Upper Ground Cyberzone. Following its SM Fairview store opening, the leading smart devices provider vows to reach more Filipinos by the end of the year, targeting at least 100 experience stores.

The store opening was well received by Cebuanos with a jam-packed crowd interested to catch HONOR’s latest offerings. To see the full event highlights, check out this video (https://bit.ly/40CUci5)..

“By having more and more avenues to cater our HONOR fans and tech enthusiasts alike, we stay true to our promise of providing better service to Filipinos. With that, expect back to back store openings, more products to launch, and big announcements from us this coming weeks,” said Stephen Cheng, HONOR Philippines Vice President.

Going regional

Right after its first two experience store openings, the leading technology brand officially teased the opening of more experience stores in Luzon, Visayas, and especially in Mindanao.

Updated experience store openings of HONOR Philippines:

HONOR X9a 5G now in Limited-Edition Midnight Black

The new limited-edition HONOR X9a 5G Midnight Black was also showcased during the store opening. Lucky mall-goers were handpicked to participate in the viral HONOR smash challenge where the winner got to take home an HONOR X9a 5G!

This crowd-favorite sports a 120Hz Premium OLED Curved Display bringing users a large screen with an impressive screen-to-body ratio. HONOR X9a 5G has an impressive 64 MP Super Triple Camera and a 2-Day Battery Life.

Hurry and go now to the nearest HONOR Experience Store or any HONOR kiosk and partner dealer store as this HONOR X9a 5G Midnight Black comes in limited stocks only!. HONOR X9a 5G Midnight Black is also now available through your favorite online stores – Shopee (https://bit.ly/3oh9VGt), Lazada (https://bit.ly/3L0VuyT), and TikTok Shop (https://vt.tiktok.com/ZS8WXk7ow/), priced at P16,990.

If you want to win your own HONOR smartphone, it is also not too late to join the HONOR Summer Reel Contest! Interested participants can capture their best summer trip and post a video on their social media accounts with the hashtags #HONORPH, #GoBeyond, and #HONORPHSummer2023.

For more announcements, you may visit HONOR’s website www.hihonor.com or social media platforms: Facebook (Facebook.com/HonorPhilippines), Instagram (Instagram.com/honorphilippines/) and TikTok: (Tiktok.com/@honorphilippines). To check out HONOR’s complete list of retail stores, go to https://www.hihonor.com/ph/retailers/.

GCash is the Philippines’ #1 Finance Super App with over 79 million users who enjoy fast, safe, and convenient transactions online. Based on Data.ai, a reputable 3rd party platform, GCash is the #1 Finance Super App in the country with the most downloads, the highest Monthly Active Users, and even the highest Daily Active Users, as GCash is now part of their daily routines.

First launched as an SMS platform in 2005 and later as a super app in 2012, GCash was the first to introduce the QR payment system in the country. It supported the digital migration of Filipinos during the pandemic, and now that the world has reopened, it expands its services to suit the changing needs of Filipinos in a global digital financial landscape. 

At this year’s #GCashFutureCast event, GCash ushered in the future of Fintech through 10 ground-breaking innovations for every Filipino.

Tools for financial freedom 

GCash has made wealth management products like savings, insurance, and investments easy and accessible. Now it introduces products to help people grow their wealth and to help them protect it.

• GStocks PH is AB Capital Securities, Inc.'s (ABCSI) online retail securities trading services made accessible through the GCash app. Its user-friendly and simplified trading interface was designed through a collaboration with the Philippine Stock Exchange. Through GStocks PH, users can now trade stocks of over 280 local companies. GStocks PH will be available to more users soon.
• GCrypto allows users to discover and explore the world of Crypto and NFTs. Users get access to curated NFT collections, like The House of OhLala by Filipino contemporary artist, Reen Barrera, on the GCrypto NFT Hub.  Buying and selling Crypto is also made easier with an exchange powered by PDAX, the Philippines’ leading homegrown cryptocurrency exchange.
• GInsure Online Shopping Protect insurance offers users 60 days of coverage up to P20,000 for all their online purchases for just P34. The insurance covers scenarios when orders are not delivered, are accidentally damaged, are not as described, or are stolen. The insurance product, powered by Chubb, is embedded in the user’s online GCash payment journey across 1,500 online shops and platforms.

GCash goes global

Traveling Filipinos can now go cashless globally using GCash’s newest services. For overseas Filipinos, they can now use GCash to send money and support to their family back home.

• GCash Global Pay allows Filipino travelers to do cross-border QR payments at Alipay+ merchants in Singapore, Malaysia, Japan, South Korea, Qatar, Germany, Italy, France and the United Kingdom. This eliminates the hassle of paying with cash, or withdrawing money at ATMs where you can incur high service fees. It offers real-time Forex charging, with no service fees.
• GCash Card gives travelers the advantage of real time Forex charging at low exchange rates and no service fees. With this, users can access their funds in a single tap at over 100 million shops across 200 countries and territories around the world through VISA’s expansive network.. This enables travelers to enjoy hassle-free shopping and dining experiences wherever they may be.  The new GCash card will be available later this year.
• GCash Overseas allows overseas Filipinos in Japan, Australia, Italy and the USA to download GCash using international SIM cards. Now they can send money, buy load, and pay bills for their loved ones back home. They can enjoy the convenience of sending money for free with GCash to GCash transactions, saving them the cost of remittance fees. GCash also announced that it is now available in the UK and Canada.  GCash Overseas is currently on Beta and is limited to a number of users, but will expand to more users soon. 

Borrowing made easier

• GGives supports Filipinos with the ability to buy now, pay later with zero credit cards, zero additional documents, zero down payment, and now with zero interest at select merchants. GCash users are now free from the barriers normally associated with installment plans, for both in-store or online purchases. 
• Borrow Load will allow eligible users to borrow their favorite load promos today at zero cash out, giving them access to their preferred entertainment – even if they’re short on budget. They can now afford to access data-heavy apps with load promos valid for up to 7 days. Borrow Load will be rolling out to more users soon.

Improved security and user experience 

GCash has taken steps to make transactions safer and more seamless through two new features:

GChat is a new, user-friendly messenger feature that makes it easier to chat and transact with contacts, share receipts instantly, and trace transaction histories. The feature makes it easier to search for conversations with friends, merchants or customers, while the Gigi and Advisories features allow users to get help anytime in real-time. GChat will be rolling out to users in the next few months.

DoubleSafe is the latest GCash security feature that prevents fraudsters from taking over accounts. It provides an additional layer of security on top of the 2-Factor Authentication and mobile pin (MPIN). DoubleSafe will be activated for every first login to a new mobile phone, and will use facial recognition to secure an account should the user inadvertently share their MPIN and OTP to fraudsters

At the FutureCast event, GCash CEO Martha Sazon said, “GCash has empowered and enabled every Filipino to remain hopeful and pursue progress. As the Philippines’ #1 Finance Super App and the first finance app to be a household name in the country, GCash is positioned to be everyone’s enabler to be future-ready. With the 10 new innovations at GCash, our hopes for a better tomorrow begins today.”  

About GCash

GCash (G-Xchange, Inc.) is the #1 Finance App in the Philippines. Through the GCash App, 79M registered users can easily purchase prepaid airtime; pay bills at over 1,600 partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 5.2M partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. GCash is a wholly-owned subsidiary of Mynt (Globe Fintech Innovations, Inc.), the first and only duacorn in the Philippines.

GCash was recognized by The Asian Banker (TAB) and by the IDC in 2021 for its outstanding digital financial inclusion programs.

AutoStudio Cebu recently acquired a new dealership with two premium Italian motorcycle brands - Vespa and Aprilia SR GT.

The two Italian brands will showcase their top-of-the-line models during the grand opening of the new AutoStudio showroom on March 21, 2023, in Veterans Drive Nivel Hills, Lahug, Cebu City.

AutoStudio Philippines is the home of  Mini Cooper Philippines since 2019.

Foundever, a global leader in the customer experience (CX) industry, today announced it has launched its third location in Cebu and the first Foundever™ hub in the Philippines after the global rebrand. This opening further reinforces its continuous entrepreneurial journey of growth and transformation, first with the acquisition of Sitel in 2015 by Groupe Acticall and most recently with the acquisition of Sykes Enterprises, Inc. in 2021.

The global rebranding to Foundever underscores the company’s relentless commitment to innovation, dynamism, and top-notch customer experience delivery. It celebrates the expertise on which the company was founded, while maintaining the same level of innovation and agility with a strong human-centric element to its solutions.

"’Found’ represents our constant curiosity to innovate and create grounded solutions, and ‘ever’ signals our agility and drive to continuously adapt to the changing needs of the market and our clients," noted Cecile May-Moreno Venancio, Senior Marketing Director for APAC, Foundever™. “We know it’s a complex, fast-moving and changing world and this is especially true in our world of customer experience. So, at Foundever™, we recognize that it is our job to make CX simple and to deliver great experiences for customers by building a better experience for our people.”

Foundever has successfully grown from a small startup to become a global company that delivers over 9 million customer conversations and insights each day to help clients navigate their digital transformation journey. By combining scalability, award-winning culture, and innovative solutions, the company is able to stay ahead in the CX game for the world's leading brands. 

Since acquiring SYKES in 2021, Foundever has established its position as one of the top customer experience providers in the world. In the Philippines, this acquisition created a mutual employment advantage between the two companies and saw the number of Foundever associates across the country grow to over 40,000.

"Our team remains committed to learning, designing, and integrating solutions that meet the specific needs of clients. This includes taking time to know individual cultures, values, and operational models to address unique business challenges," Venancio concluded.

For more information, visit the company’s brand-new website at www.foundever.com.

About Foundever

Foundever is a global leader in the customer experience (CX) industry. With 170,000 associates across the globe, we’re the team behind the best experiences for +750 of the world’s leading and digital-first brands. Our innovative CX solutions, technology and expertise are designed to support operational needs for our clients and deliver a seamless experience to customers in the moments that matter.

Supporting +9 million customer conversations every day in +60 languages across 45 countries, Foundever™ combines global strength and scale with the agile, entrepreneurial approach of our founder-led culture, enabling companies of all sizes and industries to transform their CX.

Get to know us at www.foundever.com and connect with us on LinkedIn, Twitter, Facebook and Instagram.

March 2023, Manila Philippines - In a groundbreaking deal, Concentrix, a global leader in customer experience (CX) solutions and technology and the country’s largest private employer, confirms its plan to further expand in 2023 with a big move to Cebu Exchange.

This strategic partnership with ARTHALAND will see Concentrix bolster its leading local presence by adding Cebu Exchange, a PEZA-accredited office development on track to be the largest net zero carbon certified building in the Philippines. The expansion is expected to bring Concentrix’ site total in the country to 51, as the company remains committed to add more jobs as well as invest in superior and sustainable facilities for its growing staff.

Cebu City has become a popular location for businesses due to its highly skilled talent pool, superior regional accessibility, and more cost-effective alternative to Manila. In 2020, the city was named the 12TH most attractive BPO destination by the Tholons Global Innovation Index.

“Cebu has always been an exciting market for the office sector”, said Dom Fredrick Andaya, Senior Director of Office Services – Tenant Representation at Colliers. “Sixty percent all provincial office transactions that we recorded in 2022 happened in Cebu, and a bulk of these were office lease transactions cornered by IT-BPM firms. Aside from the abundance of highly skilled workers, the availability of higher-quality buildings with sustainability features provides extra incentive for occupiers to locate and expand in the city. We are very happy and thankful to have facilitated this landmark partnership between Concentrix and Arthaland.”

As part of the deal, Concentrix will take up a total gross leasable area of 16,686.73 sq.m spanning multiple floors of operations in Cebu Exchange later this year.  It is the largest commercial transaction and office take-up in Southern Philippines among comparable transactions of the same volume and requirements. 

The partnership also underscores Concentrix's strategic  Environmental, Social and Governance focus and Doing Right DNA, aligning  with ARTHALAND’s sustainability development goals, where the welfare of occupants is of  utmost importance.   The wellness features of Cebu Exchange is a testament to Concentrix being fanatical in caring for staff.

Cebu Exchange's reputation for sustainability, an important factor in Concentrix’ choice of facility, is also reinforced by ARTHALAND's sustainability projects outside its developments. ARTHALAND has an ongoing sustainable public school rehabilitation program in Cebu Island, which includes fixing roofs and adding solar panels, repainting public schools with low-VOC paints, providing low-energy LED lighting, and rehabilitation of toilet fixtures.

"At Concentrix, we design, build and run the future of customer experience (CX). And as we continue to grow, we also reimagine the future of workspace – what kind of facility is needed by our teams today and those joining our organization tomorrow. We are thrilled to partner with Cebu Exchange in giving our    teams the best sustainable and wellness-centered office space available in the market. Cebu Exchange’s energy-optimized facility not only supports our environment conservation goal, but also provides our people with flexible spaces to be creative and social.   It is critically important for us to prioritize the health, safety, and well-being of our staff while also being responsible for the health of our planet. As an industry leader, we proudly embrace the workspace of the future, today,” said Amit Jagga, SVP and Country Leader of Concentrix Philippines. 

"We are delighted to welcome Concentrix to the Cebu Exchange. The combination of Concentrix's expertise in customer engagement and business performance, and Cebu Exchange's commitment to sustainability and wellness, is a powerful collaboration that will bring benefits to all stakeholders. We look forward to a long and prosperous partnership.” said Oliver L. Chan, Senior Vice President of ARTHALAND.

Cebu Exchange has been pre-certified LEED Gold from the U.S. Green Building Council, achieved the highest 5-Star rating for its design from the Philippine Green Building Council, and the WELL Health-Safety Rating 2022 for Facility Operations and Management through the International WELL Building Institute. It is also registered and on track to receive (?) EDGE certification by the International Finance Corporation. 

Through the Net Zero Carbon Buildings Commitment of the World Green Building

Council, ARTHALAND has pledged to decarbonize 100% of its portfolio by 2030. ARTHALAND is the first real estate developer in Asia to do so and the first signatory from the Philippines. For more information, you may visit Cebu Exchange along Salinas Drive (in front of Cebu I.T. Park), Lahug, Cebu City, Philippines, email ask@arthaland.com, or visit www.arthaland.com.

Safe Harbor  Statement. This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include, but are not limited to, statements regarding the future growth and expansion of Concentrix, and statements that include words such as believe, expect, may, will, provide, could and should and other similar expressions. These forward-looking statements are inherently uncertain and involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Risks and uncertainties include, among other things: risks related to general economic conditions; competitive conditions in the company’s industry; the demand for CX solutions and technology; variability in demand by the company’s clients or the early termination of the company’s client contracts; the level of business activity of the Company’s clients and the market acceptance and performance of their products and services; and other factors contained in the company’s Annual Report on Form 10-K for the fiscal year ended November 30, 2022 filed with the Securities and Exchange Commission and subsequent SEC filings. The Company does not undertake a duty to update forward-looking statements, which speak only as of the date on which they are made.

About Concentrix

Concentrix (Nasdaq: CNXC) is a leading global provider of customer experience (CX) solutions and technology. We Reimagine everything CX to improve business performance for some of the world’s best brands, and the ones that are changing the world as we know it. Every day, we Design, Build and Run CX for over 130 Fortune Global 500 and 125 new economy clients. Whether it’s a specific solution or the whole end-to-end journey, we’ve got it covered. We’re the strategic thinkers who design brand-defining experiences. The tech geeks who build smarter solutions. And the operational experts who run it all and make it work seamlessly. Across 40 countries and 6 continents, we provide services across key industry verticals: technology & consumer electronics; retail, travel & ecommerce; banking, financial services & insurance; healthcare; communications & media; automotive; and energy & public sector. Location: Virtually Everywhere. Visit www.concentrix.com to learn more.

Copyright 2023 Concentrix Corporation. All rights reserved. Concentrix, the Concentrix logo, and all other Concentrix company, product and services names and slogans are trademarks or registered trademarks of Concentrix Corporation and its subsidiaries. Concentrix and the Concentrix logo Reg. U.S. Pat. & Tm. Off. and applicable non-U.S. jurisdictions. Other names and marks are the property of their respective owners.

“Green” funds give users chance to invest in recovering market

Leading Philippine fintech company GCash and ATR Asset Management (ATRAM) are offering sustainable investment products under the GFunds portfolio, to give the e-wallet’s users an opportunity to maximize the recovering market while investing in companies that promote “green” practices and industries.

“In line with GCash’s sustainability goals, we want to provide a platform to democratize access to funds that promote green practices. Thanks to our partnership with ATRAM, we’re also able to allow our users to benefit from the market that has been recovering from a slump caused by worries over inflation and high interest rates,” said GCash president and CEO Martha Sazon.

GCash and ATRAM have already been solid partners in offering users several funds that can help them grow their hard-earned money. Through sustainable investment products under GFunds, customers can support companies that promote positive environmental or social change, invest in clean energy, transport, and infrastructure, as well as those who provide access to healthcare.

“We are fully committed to our partnership with GCash and are very excited to expand our global and local fund offerings in GFunds. This includes one of our flagship Philippine equity funds, the ATRAM Philippine Sustainable and Development and Growth Fund. This fund invests in Philippine companies that are committed to improving and integrating sustainability in their workforce, products, and practices,” said Phillip Hagedorn, President of ATRAM Trust Corporation and CEO of Asset and Wealth Management.

Hagedorn also shared that since the fund’s inception in Feb 17, 2021, it has outperformed the PSEi by 9.57% as of December 31, 2022.

“Sustainable investing is the way to make lives better for all. We are confident that companies that embrace these sustainable practices will be the future winners,” Hagedorn noted.

As seen in recent news headlines about floods and extreme weather conditions, the Philippines has been among the most vulnerable to the negative impact of climate change.

Based on GCash’s market research, investors and non-investors alike are shifting their focus to sustainable investments, with 85% of investors wanting to place their funds in investments that make a positive impact.

GCash has been partnering with trusted institutions like the ATRAM group in giving its customers more opportunities to grow their hard-earned money and reach their financial goals.

Through GFunds, ATRAM is offering access to various sustainable investment products namely the Global Health Care Feeder Fund, Philippine Sustainable Development and Growth Fund, Global Equity Opportunity Feeder Fund, and the Global Infra Equity Feeder Fund.

GLOBE GROUP POSTS SOLID 4Q AND FULL YEAR RESULTS: 

RECORD REVENUES AT ₱158.0 BILLION, UP 4% YoY; 

RECORD EBITDAAT ₱79.1 BILLION, UP 6% YoY; 

NIAT AT ₱34.6 BILLION, UP 46% YoY; AND, 

NORMALIZED CORE NIAT AT ₱19.2 BILLION, UP 1% YoY

NON-TELCO REVENUES SUSTAIN GROWTH MOMENTUM AT 106% YOY; MOBILE BUSINESS REVENUES AT ₱107.5 BILLION, UP 3% YoY, DRIVEN BY RECORD MOBILE DATA REVENUES OF ₱83.8 BILLION, UP 8% Y OY; 

CORPORATE DATA REVENUES REACH RECORD ₱17.2 BILLION, UP 21% Y OY 

FULL YEAR 2022 CAPEX UP 9% YoY AT ₱101.4 BILLION (US$1.9 BILLION); CAPEX GUIDANCE OF US$1.3 BILLION IN 2023, 30% LOWER YoY VERSUS PEAK LEVEL, AND TARGETS US$1 BILLION BY 2024; 

FOCUS ON BRINGING THE COMPANY BACK TO MORE SUSTAINABLE FREE CASH FLOW LEVELS 

FIRST IN SEA: GLOBE PILOTS NEW LENS ANTENNA TECHNOLOGY 

FOR BETTER CUSTOMER EXPERIENCE 

GLOBE HAILED PH’S BEST MOBILE NETWORK INFRASTRUCTURE COMPANY AT GLOBAL BUSINESS OUTLOOK AWARDS 2022 

GLOBE RECEIVES PRESTIGIOUS 5 GOLDEN ARROW AWARD 

FOR CORPORATE GOVERNANCE AT THE 2022 GOLDEN ARROW AWARDS

Key Financial Highlights: Robust Topline Growth as Data Uphill Trend Continues 

The Globe Group closed the year with all-time high consolidated service revenues reaching ₱158.0 billion, up 4% year-on-year. Corporate data and mobile services, complemented by the continuous growth from non-telco services, mainly drove the topline expansion as more Filipinos adopt the digital lifestyle. Total data revenues as a percentage of total consolidated service revenues increased to 81% from 80% last year. 

The mobile business sustained its upward performance, ending the year with ₱107.5 billion compared to ₱104.4 billion reported the previous year and the second highest in company history. The revenue improvement came mostly from prepaid with greater public mobility and the resumption of face-to-face classes and work. Total mobile revenues comprised 68% of the total service revenues, with the total mobile customer base ending at 86.7 million in 2022. 

From a product perspective, mobile data revenues posted a record ₱83.8 billion for the full year of 2022 or 8% higher versus ₱77.8 billion in 2021. Mobile data traffic likewise soared to 4,658 petabytes as of end-December of 2022, surpassing the 3,733 petabytes reported in the preceding year. Mobile data now accounts for 78% of mobile revenues from 75% last year. On the other hand, mobile voice and mobile SMS revenues ended at ₱14.9 billion and ₱8.8 billion, lower year-on-year by 13% and 5%, respectively. 

With Globe’s expanded fiber footprint, postpaid fiber subscribers and revenues posted a year-on-year increase of 35% and 84%, respectively. The increasing fiber adoption among Globe customers drove the continued migration of home prepaid wifi (HPW) subscribers to fiber. However, this increase in fiber revenues was not enough to cover the decline in the legacy businesses, as the Home Broadband business further declined in the fourth quarter, ending the year at only ₱27.1 billion from ₱29.4 billion a year earlier. Similarly, total Home Broadband subscriber count now stands at 2.6 million or down by 30% year-on-year, with HPW data traffic declining to only 450 petabytes as of end-December 2022 from 808 petabytes a year ago. 

Despite the performance of the fiber business, the addressable postpaid fiber market has reached saturation levels with the wider market remaining underserved. Public clamor for reliable and more importantly, affordable internet connectivity continues. In response to this, Globe has shifted its focus to prepaid fiber, which it believes will open the industry to a new segment that could potentially drive the next phase of growth for the Home Broadband industry. One such prepaid offering is TMBayan Fiber WiFi, a public WiFi service where subscribers can connect their devices and have access to the internet. With this service, sari-sari stores, town plazas, community centers and other neighborhood convergence areas can become WiFi hotspots. As of end-January 31, 2023, Globe has fired up 652 TMBayan Fiber WiFi hubs in the National Capital Region (NCR); Luzon including Bulacan, Pampanga, Cavite, and Laguna; Visayas, specifically, Cebu and Tacloban; and Mindanao, including Davao del Norte, Davao del Sur, and Zamboanga. Globe expects to launch even more prepaid fiber products into the market by the 2nd quarter of 2023, to complement its current fiber offering. 

Corporate Data on the other hand, posted an all-time high revenue of ₱17.2 billion or 21% increase from a year ago due to the strong traction from information and communication technology (ICT) services which grew 89% year-on-year as more companies rely on business application, cloud, and data center services. 

As Globe continues to expand its beyond telco initiatives with a growing portfolio of digital companies in spaces such as fintech, healthtech, adtech, and entertainment, its non-telco revenues jumped to ₱4.2 billion in 2022 from ₱2.0 billion last year. The substantial revenue contributions from ECPay, Yondu, and Asticom led to its outstanding performance in 2022. 

Total operating expenses including subsidy stood at ₱78.9 billion for the full year of 2022, or 2% higher from a year ago. 2022 was a challenging year with several macroeconomic and external factors causing almost all expense line items to increase. These increases were partially offset by the declines from lease, services, marketing and subsidy, due to cost management initiatives employed by the company. 

Full year 2022 consolidated EBITDA stood at a record ₱79.1 billion or 6% higher from 2021 with the topline expansion of 4% offsetting the growth in operating expenses (including subsidy). This enabled overall EBITDA margin to increase to 50% from last year’s 49%, in line with full year guidance. With the EBITDA expansion and this year’s non-operating income, which fully covered for the 11% increase in depreciation charges, net income reached ₱34.6 billion or up by 46% than the ₱23.7 billion reported in 2021. 

Total non-operating income of ₱10.7 billion as of end-December of 2022 was attributed to the one-time net gain of ₱8.4 billion (post-tax) on the partial sale of Globe’s data center business reported in the first quarter of 2022 and the net gain of ₱6.2 billion (post-tax) from the sale and leaseback of its tower assets. Excluding these one-time gains, normalized net income would have been ₱20.0 billion, or up by 13% year-on-year. 

Accordingly, core net income, which excludes the impact of non-recurring charges, and foreign exchange and mark-to-market charges, ended at ₱19.2 billion for the period versus the ₱21.2 billion from the year earlier. Similarly, normalized core net income was 1% higher from last year. 

On the back of several initiatives executed by the company in 2022, the balance sheet has remained healthy and gearing comfortably within bank covenants despite all the headwinds that materialized in 2022 and debt increasing from ₱210.1 billion as of end-December 2021 to ₱233.2 billion this period. Globe’s gross debt to equity is at 1.53x while gross debt to EBITDA is at 2.35x; Net debt to equity ratio is at 1.43x while net debt to EBITDA is 2.20x; and debt service coverage ratio is at 3.82x. 

“Despite 2022 being a challenging year marked by inflationary pressures, high interest rates and weakened consumer confidence, Globe once again showed resilience. We are happy that the Globe Group closed the year with strong topline and EBITDA growth. We also achieved momentous milestones in 2022 where we closed the country’s largest-ever tower sale and leaseback agreement. In addition we successfully concluded our first stock rights of er in over two decades and raised ₱17 billion despite challenging market conditions. 

As we strive to future proof our network performance, provide better customer experience, and continue with various digital innovations to address the everyday pain points of our fellow Filipinos, we are optimistic that our beyond-telco initiatives will help enable the Philippines to become a truly digital nation.” Ernest L. Cu, President and CEO of Globe Telecom Inc., stated. 

Key Business Highlights: Capex peaked in 2022 at ₱101.4 Billion (US$1.9 Billion) or 9% YoY to improve its data infrastructure 

Globe’s capital expenditure (capex) closed the year at ₱101.4 billion or 9% above than last year, which marked the highest investment ever in its mobile and fixed network to provide world-class internet experience for Globe customers nationwide. Majority or 86% of this period’s total cash capex was allocated for data requirements to ensure that customers will have access to more relevant digital solutions and best-in-class connectivity wherever they are. Globe spent record-high levels of capex in the past several years with its aggressive builds towards a #1stWorldNetwork and now have a significant backbone for its network. Through its strict and clear governance processes, Globe has ensured proper deployment of capital over the last few years, which allows it now to focus towards capital efficiency and optimization. This will bring capex in 2023 down to $1.3 billion, a reduction of over 30% from the 2022 peak level, with the target of eventually bringing this down to $1 billion by 2024. Through this, Globe aims to bring free cash flow back to more sustainable levels moving forward, as it reaps the benefit of the opportunistic investments it made in its infrastructure the past few years. 

Moreover, Globe deployed over 1.4 million fiber-to-the-home lines in 2022 versus 1.45 million lines from a year ago to address the growing need for connectivity nationwide as the economy opens up and mobility improves. For 2023, Globe will be shifting its focus to maximizing the utilization of its fiber inventory, and ensuring delivery of the right product to the underserved prepaid fiber market. 

Additionally, Globe built 1,702 new cell sites (vs. 1,407 in 2021), upgraded around 13.6 thousand mobile sites to LTE, and installed 2,267 new 5G sites nationwide to connect more consumers and businesses with the accelerated digitalization needs brought about by the pandemic. 

Globe, a 5G pioneer in the Philippines, is helping drive the adoption of 5G technology in the country and paves the way for the next generation of digital innovation. Globe’s 5G outdoor coverage has now reached 97.2% of the National Capital Region and 90.2% of key cities in Visayas and Mindanao. The company ended 2022 with 5G connectivity in 70 cities and towns across the Philippines versus 29 in 2021, more than doubling its coverage in a year. Globe also logged over 3.9 million devices in its 5G network in December of 2022. 

Moreover, with the Company’s ongoing network investments to provide our customers with superior experience, Globe has been named the Best Mobile Network Infrastructure Company at the annual Global Business Outlook Awards 20221. This recognition follows last year's award for Most Innovative Telecom. Globe’s continuous network buildup and improvement is part of Globe’s commitment to the United Nations Sustainable Development Goals, particularly UN SDG No. 9, highlighting the roles of infrastructure and innovation as crucial drivers of economic growth and development.