45% of Filipinos Choose Online Financing Tools Due to Higher Speed

Wazzup Pilipinas!

According to a customer survey conducted by Robocash Group in India, Indonesia, the Philippines and Vietnam, speed of service is the key advantage of online financing tools stated by 50.4% of users. The difference between the four countries is relatively small. In particular, the share of Filipinos who appreciated this feature is lower the average by five points (45%) only. Still, speed has the highest preference among local customers.

Other advantages of fintech financing were related to its accessibility. The company statistics show that a lot of customers of relevant services are residents of rural areas. In many cases, they are self-employed or employed informally, and few of them have some credit history. In this respect, the possibility to get formal financial assistance looks positive by itself. For instance, a reduced list of supporting documents is the main advantage provided by online financing tools for 22.8% of respondents in the Philippines. Third place belongs to a higher probability to obtain financing with 9.6% of voices. On the total scale of the four countries, this feature was appreciated by 12.5% of all respondents who took part in the survey.



One more group of advantages relates to the convenience of fintech services at use. The round-the-clock operation, together with a variety of ways to obtain cash, complements significantly to the speed factor.

Commenting on the findings, the analysts of the Robocash Group added: "The findings have confirmed that quick elimination of gaps in a family or personal budget is the most common purpose of short-term online advances. That is why top priority is the speed of service. It also correlates with the main reason to apply for financing. For most customers, daily needs and regular monthly payments make the largest and most important part of family expenses. In particular, one-third of respondents (30.6%) spend most of their budget on food, fare payment etc. Then, monthly bills for housing and utility service, mobile phones, TV etc. make the largest spending for almost every fourth customer (24.5%). These are very cases requiring instant payment in the first turn."

Record High Turnout Posted for PNR Clark Phase 2 Bidding

Wazzup Pilipinas!


With the construction of PNR Clark Phase 1 (Tutuban-Malolos leg) already in full swing, the opening of bids for three contract packages under PNR Clark Phase 2 (Malolos-Clark) commenced with a record high turnout at the headquarters of the Department of Budget and Management – Procurement Service (DBM-PS) in Manila yesterday, 27 August 2019.

Package 1 covers civil works for 17 kilometers of PNR Clark Phase 2 including Calumpit and Apalit Stations; Package 2 for 16 kilometers including San Fernando Station; and Package 3 for 12 kilometers encompassing Angeles and Clark Stations.

Already the Asian Development Bank's (ADB) largest and fastest-moving project, the North-South Commuter Railway (NSCR) Project – which includes PNR Clark Phase 2 – continues to set records with its high turnout from nine (9) international and two (2) local companies, bidding as seven (7) different joint ventures and sole bidders.

Participating companies include Acciona (Spain), Daelim (Korea), Dong Ah Construction (Korea), EEI (Philippines), Hyundai Engineering & Construction (Korea), Italian-Thai Development Public Company Limited (Thailand), Megawide Construction Corporation (Philippines), PT Pembangunan Perumahan [PP] (Indonesia), PT Waskita Karya Tbk (Indonesia), PT Wijaya Karya Tbk [Wika] (Indonesia), and Sumitomo Mitsui Construction Corporation (Japan).

According to Philippine National Railways (PNR) General Manager Junn Magno, the record turnout of bidders demonstrates the international infrastructure industry's support to the Build, Build, Build Program of the Duterte administration, as well as their trust in the transparent, fair, and corruption-free bidding process jointly implemented by the Department of Transportation, PNR, and DBM-PS.

“We are very happy with the turnout of bidders for PNR Clark Phase 2. This vibrant participation from international and local companies is proof that they trust this government and the processes we institute. This is indeed a vote of confidence that we are doing things the right way, and soon, our countrymen will reap the benefits through improved mobility and connectivity,” GM Magno expressed.

PNR Clark Phase 2, which forms part of the NSCR, is a 53-kilometer rail line from Malolos, Bulacan to Clark, Pampanga. This will feature the country’s first airport express railway service. Once completed, it will allow commuters to reach the Clark International Airport from Buendia in Makati in just 55 minutes, compared to two hours by private vehicle via expressway. PNR Clark Phase 2 is also seen to accommodate 340,000 passengers in its opening year in 2022.

More contract packages are scheduled for bid submission and publication in the next months for the massive NSCR, which spans 147 kilometers and 37 stations. The PhP777.55-billion rail network project is co-financed by the ADB and the Japan International Cooperation Agency (JICA).

Bid submissions for Package 4 (8 kilometers with Clark International Airport Station) and Package 5 (Clark Depot) are slated on October 14. Start of bidding for 304 Commuter Train Cars, 56 Airport Express Train Cars, and Electromechanical Systems is scheduled in September through the fourth quarter of 2019. Meanwhile, bid submission for PNR Calamba Package 1 (1 kilometer with Blumentritt Station) is on November 5.

Grab Philippines and ONE Championship Honor Manny Pacquiao With Framed Belt

Wazzup Pilipinas!

Grab Philippines celebrated National Heroes Day last Monday, 26 August by inviting Grab drivers and their families for a day of fun in an event that celebrated Grab’s Everyday Heroes on the road.

In attendance were members of Grab Philippines community, ONE Championship senior executive Victor Cui, and team Lakay athletes Eduard Folayang, Geje Eustaquio, ONE Strawweight World Champion Joshua Pacio, and Team Lakay head coach Mark Sangiao. Also in attendance as a special guest was Filipino sports icon and national hero, Manny “Pacman” Pacquiao.

The event at the Mall of Asia Arena in Manila drew a huge crowd with entertainment and raffles. There were even performances by music and dance acts Shanti Dope, Rocksteddy, and the SexBomb girls.

Fans and Grab drivers who all came out to see Pacquiao, as well as members of the famed Team Lakay of Baguio City, were treated to a world-class evening program.

Pacquiao is a winner of multiple boxing world titles across eight different weight divisions. He is the only man in the history of the sport to achieve such a feat. But he, for the most part, has stayed within the sport of boxing for the majority of his career.

Aside from occasionally dabbling in professional pool, Philippine basketball, acting, and even singing, “Pacman” has remained a boxer. He has, however, dipped his influence in the sport of mixed martial arts -- at least, on the business end.

Pacquiao, who has worked closely with Asia-based martial arts organization ONE Championship in the past, was presented with a token of appreciation, by ONE and ride-hailing company Grab Philippines.

A beautifully-framed ONE Championship world title belt was presented to Senator Pacquiao as a commemorative token for being a national hero.

“Manny [Pacquiao] is such an inspiration to us all. On behalf of Team Lakay, I’d like to thank ONE Championship and Grab Philippines for allowing us to be a part of this event,” said Sangiao.

“Witnessing his career and how he has overcome countless obstacles and constantly defied the odds, Manny motivates us to be the best we can be. He’s a hero for us all. I’m sure everyone at the event was happy to see him there.”

Pacquiao also took the time to make a sizable donation to the Jinkee and Manny Heart Foundation, which gives free heart care for children in the Philippines. The Philippine senator donated 1,000 PHP for every grab driver in attendance, which ended up totaling 1-million PHP overall.

“Not only is he a sports icon, but Manny is also a terrific human being, and an amazing public servant who truly cares for the Filipino people,” said Folayang.

“With what he’s given back to the people, even taking money out of his own pocket to help the poor and underprivileged, it’s more than admirable. It’s inspiring, and it’s motivating. Everyone is in good spirits right now. It was such an honor to even be in the same room as Manny. He’s an absolute legend in every sense,” Folayang added.

ONE Championship and Grab have executed strong partnership activations since the beginning of the year, working on various initiatives in the country, as well as in Southeast Asia. The two companies look to continue that strategic partnership for the remainder of 2019 and beyond.