BIZ BUZZ: Request granted – More free Wi-Fi hours at Naia

Passengers at Ninoy Aquino International Airport (Naia) can now use free Wi-Fi for three hours, an hour longer than the previous two-hour limit. In addition, they no longer need to provide personal information to access the internet services, which was a hassle anyway.

This is a welcome development for travelers who need to stay connected while waiting for their flights or filling out online forms.

New Naia Infra Corp. (NNIC) said the average internet speed at Naia terminals clocks in at 50 to 60 megabits per second (Mbps) and peaks at 115 Mbps.

The San Miguel-led group teamed up with PLDT Inc. and its wireless unit Smart Communications, as well as Converge ICT Solutions Inc., for the free high-speed internet service.

“Whether it’s for completing online travel requirements, accessing information, staying connected with loved ones, or simply browsing social media, good internet access is essential at any modern international airport,” NNIC said. —Tyrone Jasper C. Piad

Maya clinches major wins

Against the backdrop of a hyper-competitive digital banking sector in the Philippines, Maya continues to be recognized for the way it does virtual banking.

Maya has been awarded “Best Digital Savings Product“ and “Best Digital SME Lending” at The Asian Banker’s Philippine Excellence in Retail Finance Awards 2024.

These are two major wins that, the company said, sealed its status “as a game-changer in the banking sector.” The Asian Banker agreed, noting that Maya “addresses the needs of unbanked Filipinos.”

Maya boasts of a “tech-driven approach“ in banking that has expanded financial access for millions of Filipinos. The digital bank offers flexible savings with interest rates of up to 15 percent a year, and loans for consumers and small businesses.

Maya said its “high-engagement banking” links interest rates to customer app usage, boosting engagement while feeding data into its AI-driven credit scoring system. This model, the company explained, is changing consumer behavior, as frequent app users save more and qualify for loans faster.

As of June 2024, Maya’s borrower base grew to 1.2 million, with loan disbursements rising to P47 billion. Total customers expanded to 4 million, helping raise total deposits amounting to P32 billion. —Ian Nicolas P. Cigaral

AG&P plans $15-B Visayan road network

Engineering firm Atlantic, Gulf & Pacific Co. (AG&P) will soon study the feasibility of a $15-billion (P867 billion) mega infrastructure project that will connect Negros, Cebu, Bohol and Leyte through a network of bridges and tollways.

AG&P Industrial president Alex Gamboa told Biz Buzz that a detailed study would run for about 13 months, after which the construction works could start within 18 months.

“Our expectation is that this will run for close to 10 years, total. But phase one will be for a period of three to four years,” Gamboa said.

Last April, AG&P announced that it had signed a memorandum of agreement with the Visayas Neceboley Interlink Holdings Corp. to work on the project, which is part of the infrastructure pipeline of the National Economic and Development Authority.

The massive undertaking includes the development, operation and maintenance of a 238.05-kilometer state-of-the-art, all-weather bridges and expressways network to connect the four major islands.

While a decade seems too long for the public to reap the full benefits of improved connectivity in the Visayas, it is still good to hear that some parts of the bridges and tollways project may be usable by the tail-end of this administration. —Alden M. Monzon