BIZ BUZZ: Yacht race, anyone?
The wealthy clients of Bank of the Philippine Islands (BPI) will not be racing next week via sports cars on paved roads or on a field in their running shoes.
Rather, they will be cruising the waters of Subic Bay on April 3 to April 6 for the fourth installment of BPI Private Wealth’s highly competitive Signature Yacht Race Series.
After grueling sea conditions and intense winds battered around a dozen boats in the Busuanga Cup last January, it seems that sailors will not be deterred from joining the BPI Subic Regatta.
READ: Iconic regatta comes to Busuanga
“You see how passionate they are in their sport … A boat typically has 10 crew members, half of them are paid and half are volunteers,” Perlu Mapanao, BPI senior vice president and head of the banking giant’s Wealth Loan unit, told reporters on the sidelines of a recent media roundtable discussion.
BPI has said that the Subic race will come on the heels of the Rolex China Sea Race 2024, which takes competitors across the West Philippine Sea to Subic Bay. As a result, we may also see yachts from Hong Kong and other parts of Asia participating in BPI’s race.
The regatta is set to have three racing classes to accommodate various types of yachts, with daily awards awaiting participants.Launched in November 2023, the Signature Yacht Series promises “an unforgettable journey through the Philippine archipelago.”
Previous races happened in Corregidor (November 2023), Palawan (January) and Boracay (February), all known tourist destinations.
Let’s hope that weather conditions will be better during the Subic race for the benefit of both the sailors and the rich biodiversity in the area. —Meg J. Adonis
Empowering women-led MSMEs
Rosemarie “Ut” Rafael, founder and chair of logistics company Airspeed, recently took her oath as the new chair of Women’s Business Council Philippines Inc. (WomenBizPH), an organization driven by the country’s top women business leaders and entrepreneurs.
Rafael, one of Inquirer’s “Women of Power” honorees this year, succeeded Mylene Abiva, who is CEO of school technology provider FELTA Multi-Media Inc. Abiva will continue to serve as secretary.
READ: Breaking barriers, changing norms
WomenBizPH is positioning itself as a leading voice of women in commerce, aiming to inspire and empower women in the Philippines. Serving as the platform to discuss issues for women in business and possible government policies and solutions, WomenBizPH is the lead private sector partner of the government, particularly the Department of Trade and Industry (DTI) and the Philippine Commission on Women. It represents the Philippines at Asia-Pacific Economic Cooperation and Association of Southeast Asian Nations events.
Asked what would be the focus of WomenBizPH under her auspices, Rafael told Biz Buzz, “Thrust is women empowerment of MSMEs (micro, small and medium enterprises) through access to market and finance, in collaboration with government agencies such as DTI — since our office is in DTI — and DILG (Department of Interior and Local Government).”
Other officers of WomenBizPH are: Rhoda Caliwara (Executive Genesis Services), president; Rosemarie Ong (Wilcon Depot), vice president; Ida Tiongson (PruLife UK), treasurer and Sarah Mateo (SPD Jobs), auditor.
Other women leaders who now serve as trustees are: Cynthia Mamon (Enchanted Kingdom); lawyer Lorna Kapunan and Alpha Allanigui (United Neon).
The new board led by Rafael will be in office until 2026. —Doris Dumlao-Abadilla
Another SEC office in Mindanao
The Securities and Exchange Commission (SEC) has opened a new extension office in Butuan City, Agusan del Norte province, banking on the potential of one of the country’s fastest-growing regions.
The corporate watchdog on Monday said the Butuan office would serve the Caraga Administrative Region, which had a gross regional domestic product of more than P320 billion in 2022.
“Choosing Butuan as the newest location for our extension office was an easy decision to make, as the high number of business name registrations in the area shows its potential to become a thriving business hub in the future,” SEC chair Emilio Aquino said.
The Butuan office is the SEC’s 11th extension office in the Philippines. Others are located in Baguio, Tarlac, Legazpi, Cebu, Bacolod, Iloilo, Zamboanga, Davao and Cagayan de Oro.
Prior to the establishment’s opening, the 7,158 registered corporations and partnerships based in Caraga were previously under the jurisdiction of the Cagayan de Oro extension office. —Meg J. Adonis
Zamboanga’s biggest depot
Seaoil, a leading local independent fuel provider and operator of the biggest network of import-capable fuel terminals, raised its stake in southern Philippines with the opening of the biggest depot in Zamboanga. As a top taxpayer in the areas where its depots operate, Seaoil thus looks to bring better revenues and raise the collection of regional districts in Zamboanga City.
With a maximum storage capacity of 30.5 million liters of fuel, the P822-million brand-new Seaoil Zamboanga Bulk Terminal is Seaoil’s 13th depot, bringing up its total fuel capacity to more than 440 million liters. Located at the Zamboecozone Authority and Freeport, the new depot will serve the fuel requirements of consumer and commercial customers in Zamboanga del Sur and the nearby islands of Tawi-Tawi, Jolo and Sulu.
Beyond business, Seaoil has vowed to be more active in giving back to the communities. It will bring to the area Seaoil Foundation’s Tugon sa Gutom program and potentially provide partners with free on-the-job training on tanker safety and marine environmental protection. —Doris Dumlao-Abadilla
