BIZ BUZZ: Peter Paul wants in on Franklin Baker?

We just heard that one of the country’s major coconut players was seeking aid to restructure a mammoth P6.3-billion loan, and we’ve got other news.

Franklin Baker Co. of the Philippines, which produces desiccated coconut, may also get another investor.

READ: Franklin Baker seeks loan restructuring

Apart from the rumored entry of the Metro Pacific Group for P1 billion, sources familiar with the matter told Biz Buzz that another player may be coming to town: Peter Paul Philippines Corp.

Although there was “no firm indication of an investment,” the people said Peter Paul was “looking at” Franklin Baker.

Looks like the coconut industry is getting the attention—and investment—it deserves.

Will Peter Paul end up being Franklin Baker’s white knight? Abangan! —Meg J. Adonis

Unionbank’s expansion plan

Even though it has been ramping up its digital services, Aboitiz-led Unionbank of the Philippines is also eyeing to expand its physical presence, with new branches poised to open in regions outside of the capital.

And the bank has both its regular and ultra-rich clients in mind.

The target locations of the new branches are Calabarzon, Cagayan de Oro and Cebu—the homeland of the prominent Aboitiz business clan.

And part of this expansion is an ongoing rationalization that would identify any branches that can be relocated elsewhere, Albert Cuadrante, chief marketing and experience officer at Unionbank, told reporters during an exclusive preview of the bank’s state-of-the-art wealth center at its “The Ark” branch in Makati.

The new wealth center is a place where elite clients can enjoy exclusivity, safety and sophistication when making high-value transactions.

According to Cuadrante, another part of Unionbank’s branch expansion plan is its commitment to build more sophisticated wealth centers around the country for its top-tier clients.

“We have teams going around assessing the potential of each region. And how many branches can these regions carry,” he said. —Ian Nicolas P. Cigaral

What firms do to manage and retain talent

With 64 percent of employees in the country being either in the middle of switching employers or considering doing so, according to a global study by Aon Plc, getting certified as a workplace where staff want to stay is indeed something to flex about.

This is not lost on JTI Philippines, which says it ranks No. 2 in this year’s list of Top Employers in the Philippines by the Top Employers Institute. According to the Netherlands-based institute, JTI Philippines’ parent firm is also in their list of this year’s top employers in the Asia-Pacific region as well as globally.

“Aside from continuing to improve our work environment and caring for their well-being, we pride ourselves on our focus on diversity, equity and inclusion (DEI),” says Ari Wisnubroto, people and culture director at JTI Philippines.

(Thankfully, this is not America under Donald Trump, where DEI initiatives are frowned upon.)

Wisnubroto says JTI’s family leave policy supports new parents by providing 20 weeks of fully paid leave when welcoming a child, regardless of their gender, sexual orientation or the way they become parents.

Also, they have a program that offers free driving lessons to women without driving experience and who want to pursue a field-based career at JTI.

The company also sponsors individuals from disadvantaged communities with the opportunity to earn a college degree while earning a salary and developing their careers at JTI.

Meanwhile, Sun Life Grepa Financial Inc. says it has been certified as a Great Place to Work for the third straight year. This latest stamp of recognition is good for the November 2024 to November 2025 cycle.

According to the United States-based Great Place to Work Institute, 86 percent of Sun Life Grepa’s employees say the joint

venture between the Yuchengco Group and Sun Life Philippines is “a great place to work.” This is higher than the 65-percent affirmation rate for an average firm in the country.

Richard Lim, president of Sun Life Grepa, says that the recognition upholds “the culture we have cultivated together—one that values a supportive and empowering workplace where employees can thrive both personally and professionally.”

Results from the latest round of survey show that 91 percent of Sun Life Grepa workers said that the company fosters an inclusive environment where they feel welcome.

Also, 92 percent acknowledged fair treatment regardless of gender and 92 percent appreciated how the company celebrates special events. —Ronnel W. Domingo

New Monde products on shelves soon?

The instant noodle world has always been plagued with criticism about salt content and health hazards. These are perhaps among the reasons why consumption remained flat worldwide in 2023, data from the World Instant Noodles Association (Wina) show.

Still, industry giants like Monde Nissin Corp., whose superstar products are Lucky Me! instant noodles, are optimistic that they can drive this demand up.

Or so Monde Nissin CEO Henry Soesanto says.

READ: Instant noodle makers admit need to make product healthier

“We’ll try our best to do it,” Soesanto told reporters on the sidelines of the 11th Wina Summit in Taguig City on Tuesday.

That may not be difficult to do as the Philippines defied the global consensus in 2023, with instant noodle demand inching up by 2.33 percent to 4.4 million servings.

The global average, on the other hand, was down by 0.82 percent, according to Wina.

Apart from the noodle optimism, Soesanto also hinted at the possibility of adding new products to their portfolio, which includes the iconic SkyFlakes crackers.

“We are seeing a lot of new categories in the market,” Soesanto said. “We’ll keep on introducing those.” —Meg J. Adonis