Sunday, June 13, 2021

As Children Struggle With Remote Learning, More Effective Interventions Needed

With over 28.5 million learners affected in the Philippines due to the Covid-19 pandemic, Synergeia with local governments and international partners come together to help spread and strengthen education reforms in the country.

As Children Learn Outside Classrooms, School Governing Councils Play A Critical Role

Nueva Vizcaya barangay leaders are visiting the homes of students who experience difficulties with remote learning through the help of the Synergeia Foundation.

Almost Four Years After Marawi Siege, Nearby Town Combats Threat Of Extremism

Nearly four years since the Marawi siege ended, many of Marawi’s residents remain in temporary shelters as the rehabilitation of the Islamic city is yet to be completed.

World Vision’s Abutin Na10 Supply Learning Materials To Pre-School Students In Batangas

18,000 sets of learning materials were recently turned over for the students in Batangas through the “Abutin Na10” campaign in partnership with World Vision.

SM Net Income At PHP9.0 Billion In Q1

SM Net Income At PHP9.0 Billion In Q1

Spotlight

How do you feel about this story?

Like
Love
Haha
Wow
Sad
Angry

SM Investments Corporation (SM) reported that its first quarter net income stood at PHP9.0 billion, lower by 16% than the previous year, partially reflecting the impact of the enhanced community quarantine (ECQ) and effects of the COVID-19 pandemic on the company’s results.

Consolidated revenues rose to PHP111.2 billion from PHP109.0 billion previously.

Banks contributed 46% of net income, while property and retail added 44% and 10% respectively.

“The ECQ and broader pandemic started to weigh on our performance during the first quarter. Our strong balance sheet, capabilities and partnerships provide us with the flexibility to anticipate and adapt to changes in customer needs and behaviors. We are actively enhancing digital and delivery services across all our core businesses, while also working to support and protect our employees, customers, MSMEs and business partners,” SM President Frederic C. DyBuncio said.

During the crisis, SM implemented sanitation protocols in all of SM’s essential businesses. It also supported the medical equipment and supplies needs of hospitals nationwide and worked with the government and other partners to provide much needed quarantine and testing facilities.

Retail

Retail operations under SM Retail Inc., which consist of both food (SM Markets, WalterMart and Alfamart) and non-food (THE SM STORE and Specialty Retail), posted revenues of PHP81.0 billion, up 3% from PHP79.0 billion in the previous year. Net income stood at PHP1.2 billion, down 56% from PHP2.7 billion the previous year.
Revenues from SM Retail’s specialty retail stores stood at PHP16.5 billion, lower by 16% from PHP19.6 billion previously.

Property

SM Prime Holdings recorded a consolidated net income of PHP8.3 billion in the first quarter of 2020, down by 5% compared with PHP8.8 billion in the first quarter of 2019. Consolidated revenue amounted to PHP25.8 billion, 3% lower than PHP26.5 billion in the same period last year.

The mall business, which accounts for 47% of consolidated revenues, has temporarily closed operations since the implementation of ECQ, except for stores that offer essential products and services.

Philippine malls recorded revenues of PHP11.3 billion, 16% down from PHP13.5 billion in the same period last year. Mall rental income registered PHP10.1 billion, 12% lower than last year’s PHP11.5 billion.

The residential group, led by SM Development Corporation (SMDC), which accounts for 44% of consolidated revenues, recorded a 23% increase in revenues to PHP11.4 billion from PHP9.3 billion in the same period last year. SMDC’s reservation sales amounted to PHP24.8 billion.

SM Prime’s other business segments reported consolidated revenues of PHP2.2 billion in the first three months of the year.

Banking

BDO Unibank posted PHP8.8 billion in net income in the first quarter from PHP9.8 billion previously. Core lending and deposit-taking businesses sustained their growth despite the ECQ. Net interest income amounted to PHP33.0 billion on stable margins. Customer loans went up by 11% to PHP2.2 trillion while total deposits rose by 9% to PHP2.6 trillion.

China Bank saw its net income increase by 19% to PHP2.2 billion in the first quarter, driven by sustained growth of its core businesses. Net interest income grew 34% to PHP7.9 billion. Gross loans grew 15% to PHP592 billion while deposits rose 9% to PHP785 billion.

Balance Sheet

As of end-March, total assets of SM stood at PHP1.2 trillion with a conservative gearing ratio of 37% net debt to 63% total equity.

Spotlight

As Children Struggle With Remote Learning, More Effective Interventions Needed

With over 28.5 million learners affected in the Philippines due to the Covid-19 pandemic, Synergeia with local governments and international partners come together to help spread and strengthen education reforms in the country.

As Children Learn Outside Classrooms, School Governing Councils Play A Critical Role

Nueva Vizcaya barangay leaders are visiting the homes of students who experience difficulties with remote learning through the help of the Synergeia Foundation.

Almost Four Years After Marawi Siege, Nearby Town Combats Threat Of Extremism

Nearly four years since the Marawi siege ended, many of Marawi’s residents remain in temporary shelters as the rehabilitation of the Islamic city is yet to be completed.

World Vision’s Abutin Na10 Supply Learning Materials To Pre-School Students In Batangas

18,000 sets of learning materials were recently turned over for the students in Batangas through the “Abutin Na10” campaign in partnership with World Vision.

Lifestyle

Entertainment

More Stories

2 NegOcc Coffee Growers Obtain ‘Fine’ Grade For Robusta Beans

Two coffee grower associations in Negros Occidental obtained a “fine” coffee grade for robusta beans in the recently-held 2021 Philippine Coffee Quality Competition (PCQC).

TESDA, Cebu Contractors Unite To Train Competitive Workforce

The TESDA has partnered with the Cebu contractors in producing globally competitive construction workers.

70-Year-Old N. Ecija Steel Bridge Reopens To Light Vehicles

The 70-year-old Cabu Steel Bridge in Nueva Ecija is now operational after undergoing repair.

COVID-19 Spurs Rise In Birth Control Interest

Filipinos are likely to search for birth control pills, which garnered the most Google searches in March, the iPrice Group study shows.

TESDA-12 Pushes LTO Accreditation Of 58 Driving Schools

TESDA and LTO in Soccsksargen earlier agreed to integrate their driver’s education courses to improve driving standards, especially in terms of safety.

Travel

Motoring