BIZ BUZZ: Petron sweeps consumer choice awards

Every year, international brand research firm Standard Insights ranks the best products and services according to market perception in their Consumer Choice Awards.

And in the petroleum sector, the awards for the retail oil and gas segment are closely watched. And this year, Filipino consumers spoke with unanimity on which petroleum firm is the country’s best.

According to Standard Insights, Petron is the best in the country with a 45.7-percent rating, beating Pilipinas Shell’s 31 percent.

“Petron has secured the title of best overall retail oil and gas brand in the Philippines by a resounding margin, cementing its position as the preferred choice of consumers,” the firm said.

In terms of price and affordability, Petron also emerged on top, double the score of Shell.

“For those budget-conscious consumers seeking affordable yet high quality fuel options, Petron (303.3 percent) has been voted as the most affordable retail oil and gas brand in the country,” it said.

Note, of course, that this rating comes even if Petron diligently pays its taxes, compared to other fuel retailers who can offer lower pump prices by dodging government import levies.

In terms of accessibility, Standard Insights said Petron was the runaway winner with a rating of 53.6 percent versus Shell’s 27.3 percent – naturally because the petroleum unit of San Miguel Corp. has the biggest gas station network in the country.

Petron also emerged on top in terms of sustainability and environmental friendliness; and branding and marketing.

Other petroleum firms in the survey were Caltex Philippines, Seaoil,  Flying V, Clean Fuel, Unioil, Total, Phoenix, PTT, Petro Gazz and FlexFuel.

– Daxim L. Lucas

Harvard Club ‘babies’ in HK tilt finals

Two Philippine startups have made it to the finals of the Asia Technology Entrepreneurship Conference (ATEC) 2023 Startup Competition to be held in Hong Kong on Nov. 4.

These are Mayani, which delivers fresh produce from smallholder farmers to homes and businesses, and Kayamo, a financial services provider. Nominated by Harvard Club of the Philippines Global, these are among the 12 startups selected from 86 entries recommended by various alumni groups in the Asia-Pacific region.

Atec, Asia’s largest university alumni club-led technology conference and startup competition, was founded by the Hong Kong and South China University and the business school alumni clubs of Harvard, Columbia, MIT and Stanford.

Harvard Club of the Philippines, which has made it part of its mission to promote homegrown startups globally, is the only Philippine alumni group that is part of Atec.

The club selected Mayani and Kayamo based on their impact and potential to address some of this country’s biggest problems. They are seen to fill specific gaps that limit how small businesses (both in agriculture and trade) grow and scale up.

Club president Paolo Azurin, head of Philippine investment banking at CLSA, explained to Biz Buzz, “In the case of Mayani, we liked how they used market-based solutions to improve the lives of smallholder farmers and fisherfolk, at the same time giving households and commercial buyers access to affordable and fresh produce. Similarly, we found Kayamo’s commitment to provide technology enabled financial services to expand the businesses of the growing number of online sellers on Lazada and Shopee.”

The finalists will pitch before an audience and venture capital judging panel at the ATEC 2023 conference. The top 3 will be awarded cash prizes.

– Doris Dumlao-Abadilla