February 26, 2017, 1:41 pm
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1 Philippine Peso = 0.07316 UAE Dirham
1 Philippine Peso = 2.54134 Albanian Lek
1 Philippine Peso = 0.03547 Neth Antilles Guilder
1 Philippine Peso = 0.30584 Argentine Peso
1 Philippine Peso = 0.02581 Australian Dollar
1 Philippine Peso = 0.03566 Aruba Florin
1 Philippine Peso = 0.03985 Barbados Dollar
1 Philippine Peso = 1.58916 Bangladesh Taka
1 Philippine Peso = 0.03686 Bulgarian Lev
1 Philippine Peso = 0.0075 Bahraini Dinar
1 Philippine Peso = 33.57502 Burundi Franc
1 Philippine Peso = 0.01992 Bermuda Dollar
1 Philippine Peso = 0.02801 Brunei Dollar
1 Philippine Peso = 0.13648 Bolivian Boliviano
1 Philippine Peso = 0.06094 Brazilian Real
1 Philippine Peso = 0.01992 Bahamian Dollar
1 Philippine Peso = 1.33493 Bhutan Ngultrum
1 Philippine Peso = 0.2068 Botswana Pula
1 Philippine Peso = 398.88425 Belarus Ruble
1 Philippine Peso = 0.0398 Belize Dollar
1 Philippine Peso = 0.0261 Canadian Dollar
1 Philippine Peso = 0.02005 Swiss Franc
1 Philippine Peso = 12.72046 Chilean Peso
1 Philippine Peso = 0.13672 Chinese Yuan
1 Philippine Peso = 57.13688 Colombian Peso
1 Philippine Peso = 11.05639 Costa Rica Colon
1 Philippine Peso = 0.01992 Cuban Peso
1 Philippine Peso = 2.07671 Cape Verde Escudo
1 Philippine Peso = 0.50888 Czech Koruna
1 Philippine Peso = 3.53457 Djibouti Franc
1 Philippine Peso = 0.14 Danish Krone
1 Philippine Peso = 0.93146 Dominican Peso
1 Philippine Peso = 2.19109 Algerian Dinar
1 Philippine Peso = 0.2946 Estonian Kroon
1 Philippine Peso = 0.31381 Egyptian Pound
1 Philippine Peso = 0.4485 Ethiopian Birr
1 Philippine Peso = 0.01883 Euro
1 Philippine Peso = 0.04109 Fiji Dollar
1 Philippine Peso = 0.01587 Falkland Islands Pound
1 Philippine Peso = 0.01587 British Pound
1 Philippine Peso = 0.08724 Ghanaian Cedi
1 Philippine Peso = 0.86631 Gambian Dalasi
1 Philippine Peso = 183.70194 Guinea Franc
1 Philippine Peso = 0.14674 Guatemala Quetzal
1 Philippine Peso = 4.07272 Guyana Dollar
1 Philippine Peso = 0.1546 Hong Kong Dollar
1 Philippine Peso = 0.46742 Honduras Lempira
1 Philippine Peso = 0.13926 Croatian Kuna
1 Philippine Peso = 1.29548 Haiti Gourde
1 Philippine Peso = 5.80753 Hungarian Forint
1 Philippine Peso = 265.9494 Indonesian Rupiah
1 Philippine Peso = 0.07359 Israeli Shekel
1 Philippine Peso = 1.32863 Indian Rupee
1 Philippine Peso = 23.53058 Iraqi Dinar
1 Philippine Peso = 645.38754 Iran Rial
1 Philippine Peso = 2.17673 Iceland Krona
1 Philippine Peso = 2.5527 Jamaican Dollar
1 Philippine Peso = 0.01409 Jordanian Dinar
1 Philippine Peso = 2.24469 Japanese Yen
1 Philippine Peso = 2.05918 Kenyan Shilling
1 Philippine Peso = 1.37643 Kyrgyzstan Som
1 Philippine Peso = 79.57561 Cambodia Riel
1 Philippine Peso = 9.1855 Comoros Franc
1 Philippine Peso = 17.93186 North Korean Won
1 Philippine Peso = 22.54632 Korean Won
1 Philippine Peso = 0.00607 Kuwaiti Dinar
1 Philippine Peso = 0.01634 Cayman Islands Dollar
1 Philippine Peso = 6.20761 Kazakhstan Tenge
1 Philippine Peso = 163.27555 Lao Kip
1 Philippine Peso = 29.96613 Lebanese Pound
1 Philippine Peso = 2.99761 Sri Lanka Rupee
1 Philippine Peso = 1.79319 Liberian Dollar
1 Philippine Peso = 0.25802 Lesotho Loti
1 Philippine Peso = 0.06074 Lithuanian Lita
1 Philippine Peso = 0.01236 Latvian Lat
1 Philippine Peso = 0.02836 Libyan Dinar
1 Philippine Peso = 0.20106 Moroccan Dirham
1 Philippine Peso = 0.39739 Moldovan Leu
1 Philippine Peso = 1.15302 Macedonian Denar
1 Philippine Peso = 26.97749 Myanmar Kyat
1 Philippine Peso = 49.15322 Mongolian Tugrik
1 Philippine Peso = 0.15924 Macau Pataca
1 Philippine Peso = 7.07312 Mauritania Ougulya
1 Philippine Peso = 0.70472 Mauritius Rupee
1 Philippine Peso = 0.30803 Maldives Rufiyaa
1 Philippine Peso = 14.28352 Malawi Kwacha
1 Philippine Peso = 0.3922 Mexican Peso
1 Philippine Peso = 0.0886 Malaysian Ringgit
1 Philippine Peso = 0.25623 Namibian Dollar
1 Philippine Peso = 6.27615 Nigerian Naira
1 Philippine Peso = 0.58478 Nicaragua Cordoba
1 Philippine Peso = 0.16617 Norwegian Krone
1 Philippine Peso = 2.16378 Nepalese Rupee
1 Philippine Peso = 0.02755 New Zealand Dollar
1 Philippine Peso = 0.00766 Omani Rial
1 Philippine Peso = 0.01992 Panama Balboa
1 Philippine Peso = 0.06452 Peruvian Nuevo Sol
1 Philippine Peso = 0.06317 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.08428 Pakistani Rupee
1 Philippine Peso = 0.08101 Polish Zloty
1 Philippine Peso = 113.69198 Paraguayan Guarani
1 Philippine Peso = 0.07254 Qatar Rial
1 Philippine Peso = 0.08479 Romanian New Leu
1 Philippine Peso = 1.15051 Russian Rouble
1 Philippine Peso = 16.24686 Rwanda Franc
1 Philippine Peso = 0.07471 Saudi Arabian Riyal
1 Philippine Peso = 0.155 Solomon Islands Dollar
1 Philippine Peso = 0.26894 Seychelles Rupee
1 Philippine Peso = 0.12751 Sudanese Pound
1 Philippine Peso = 0.17911 Swedish Krona
1 Philippine Peso = 0.02802 Singapore Dollar
1 Philippine Peso = 0.01587 St Helena Pound
1 Philippine Peso = 0.44244 Slovak Koruna
1 Philippine Peso = 147.37996 Sierra Leone Leone
1 Philippine Peso = 10.93843 Somali Shilling
1 Philippine Peso = 461.47041 Sao Tome Dobra
1 Philippine Peso = 0.17378 El Salvador Colon
1 Philippine Peso = 10.26061 Syrian Pound
1 Philippine Peso = 0.25623 Swaziland Lilageni
1 Philippine Peso = 0.69755 Thai Baht
1 Philippine Peso = 0.0455 Tunisian Dinar
1 Philippine Peso = 0.04518 Tongan paʻanga
1 Philippine Peso = 0.07108 Turkish Lira
1 Philippine Peso = 0.13368 Trinidad Tobago Dollar
1 Philippine Peso = 0.61008 Taiwan Dollar
1 Philippine Peso = 44.39131 Tanzanian Shilling
1 Philippine Peso = 0.54164 Ukraine Hryvnia
1 Philippine Peso = 71.22933 Ugandan Shilling
1 Philippine Peso = 0.01992 United States Dollar
1 Philippine Peso = 0.56326 Uruguayan New Peso
1 Philippine Peso = 66.74637 Uzbekistan Sum
1 Philippine Peso = 0.19873 Venezuelan Bolivar
1 Philippine Peso = 454.0546 Vietnam Dong
1 Philippine Peso = 2.10699 Vanuatu Vatu
1 Philippine Peso = 0.0506 Samoa Tala
1 Philippine Peso = 12.34369 CFA Franc (BEAC)
1 Philippine Peso = 0.0538 East Caribbean Dollar
1 Philippine Peso = 12.43714 CFA Franc (BCEAO)
1 Philippine Peso = 2.23132 Pacific Franc
1 Philippine Peso = 4.98008 Yemen Riyal
1 Philippine Peso = 0.25645 South African Rand
1 Philippine Peso = 103.39709 Zambian Kwacha
1 Philippine Peso = 7.2106 Zimbabwe dollar

PH: Ayala hub for car exports

The Ayala Group is expanding its manufacturing business preparing the Philippines as its hub for car exports. Ayala has under its wing four brands, Honda, Volkswagen, Isuzu and KTM. 

Arthur Tan, president and chief executive officer of AC Industrial Technology Holdings Inc., said the company starts production next week of KTM branded motorcycles and within the term of President Duterte, four wheeled vehicles for exports.

“We want to prove that the Philippines is a viable manufacturing hub of vehicles, that it can produce and export finished products. We want the Philippines to be the Asean hub for whatever car we will build,” said Tan on the sidelines of a corporate event of Volkswagen Philippines, one of the companies under AC Industrial.

He said AC Industrial is still pursuing plans to produce a four-wheeled vehicle in the Philippines independent of the Comprehensive Automotive Resurgence Strategy (CARS) program.

“We’re still pursuing that, we’re looking at the supply chain… What they will allow us to be able to produce a car and for a partner to come into the country… the key component parts and be able to convince them that producing the car itself makes viable sense to do it within the country.And not just for export but for domestic which is the key component of the motorcycle venture,” said Tan. 

Tan hopes the current administration would be much “more forward and long time thinking in partnering with companies like us which are willing to take that step. I’m still very positive that we’ll be able to do it (within the current administration). I feel that will happen. The previous administration, we tried to work strongly in order to bring in that time the Volkswagen and yet we were not successful. This new administration would have a better, much longer perspective.”

 The plan has been brought up with partner Volkswagen AG but this had been put on hold.

Klaus Dieter Schadewald, chief operating advisor of Volkswagen Philippines, said the company would have to take into consideration the investment required to do completely knocked-down operations in the Philippines which could go beyond $200 million.

For KTM AG, AC Industrial’s partnership with the fourth largest motorcycle manufacturer KTM Asia Motorcycle Manufacturing Inc., Tan said it would produce 3,000 to 5,000 units this year, ramping it up until it could reach its capacity of 30,000 units per year.

“We have space to double that. We are pleasantly surprised KTM is doing very well locally. We will export more than we will sell,” said Tan. From 50:50, the long-term plan is to export 70 percent of production to China.

 To be produced are 200cc to 400cc models, which are bigger than what the market offers at present.

“It is still mass market but (KTM is) a bit more aspirational. We are on track in production,” noted Tan.

Tan said CARS is a great program “if the plan is to be able to further enhance the incumbents,” but it is “very difficult for new players.”

“The hurdle rate, if we are to look historically to how all these carcompanies started in all the different locations globally, they didn’t come up… they didn’t drive through the CARS program,” said Tan, referring to the 200,000 units as minimum hurdle.

 He added the government should also create a level playing field in terms of giving lower tariffs for European cars under the planned Philippines-European Union free trade agreement. 

“Whatever it is to make a level playing field that the FTA (the Philippines) has accepted from one country and accept from the EU countries. I am not asking them to change anything. Whatever it is, make it a level playing field and let the market decide because it is good for the consumers. The benefit faroutweighs the negative to the public by getting more choices, getting more suppliers and developing more SMEs (small and medium enterprises) in manufacturing,” Tan said.

Volkswagen has asked the government to include in its FTA negotiations with the EU the reduction of tariffs on vehicles imported from EU. Tariffs currently stand at 30 percent.

But the move has been opposed by existing players, such as those which currently enjoy concessions under the Japan-Philippines economic partnership agreement and Asean and its FTAs with dialogue partners.

​Before setting up AC Industrial, Ayala Corp.’s sole manufacturing​ business was electronics, through Integrated Micro-Electronics Inc. (IMI).

Tan is now also the new president and CEO of Volkswagen Philippines effective January 1.

In 2016, AC Industrial was formed to execute Ayala Corp.’s strategy to create an industrial conglomerate which would house its manufacturing and automotive assets. The manufacturing and product development expertise of IMI, which has a growing business in the automotive electronics sector, has been combined with the rapidly developing AC Automotive group. Volkswagen Philippines disclosed 2017 targets to effectively double its 2016 performance to 2,000 units.
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