D&B Launches the Business Optimism Index in the Philippines

Rigodon Ballroom, The Peninsula Manila – The Launch of the Business Optimism Index last March 25 2010 turned out to be a groundbreaking, earth-shaking event.
 
The 130-person audience included prominent names from both the government sector and the private business community.
 
Present from the Department of Trade & Industry to grace the D&B affair were Mr. Michael Fabian Director of the Bureau of Export Trade Promotion, Ms. Abigail Zurita OIC of the Office of Policy Research and Mr. Eries Cagatan Director of the International Marketing Department, Board of Investments. Representing the Philippine Retirement Authority were its General Manager Reynaldo Lingat and OIC for Marketing Noehl Bautista. Executive Vice President of BCDA (Bases Conversion & Development Authority) Aileen Zosa was also present at the event.
 
Notable attendees from the business community include Mr. Hans Sicat, Chairman of the Philippine Stock Exchange, Mr. Cesar Virtusio, Executive Director of the Bankers Association of the Philippines, Mr. Gregorio Navarro, President of the Financial Executives Institute of the Philippines, Mr. Alberto Lim, Executive Director of the Makati Business Club, Ms. Kathleen Dimayuga, Policy Officer of the Philippine Exporters Confederation, Inc. and Ms. Analyn Grace Germo, Secretary/Committee Coordinator of the American Chamber of Commerce of the Philippines.
 
The Business Optimism Index for the 2nd Quarter of 2010 covered 250 respondents across various industry sectors to include Construction, Manufacturing of durables, Manufacturing of non-durables, Transportation, Communication & Utilities, Wholesale, Retail, Finance, Insurance & Real Estate and Services. Respondents were asked to share their next quarter outlook on critical parameters to include Net Sales, Profits, Selling Prices, New Orders, Inventories and Employees.
 
Mr. Nicholas Teoh, Vice President for Asia Pacific Partnerships enlightened the audience with his presentation titled “D&B Philippines: Building Local Confidence” to provide insights on the depth of the capacity of D&B as not merely an information provider but more crucially a business insight provider to the business market. A run through of the DUNSRightTM process of D&B, various ongoing initiatives to transform our Customer Value Proposition and focused plans of D&B for the Philippine market, gave the audience a better idea on how D&B enables its Customers to Decide with Confidence.
 
Mr. Victor A. Abola, Ph.D., a leading Philippine Economist spoke about bright prospects for Q2 2010 as a result of the BOI survey, to the delight of the audience. Key highlights he presented include:
 
A rise in Net Profit (+53%), Inventory (+24%) and most significantly in Sales (+56%)
 
Selling Prices are expected to be generally flat except in Transportation, Communications & Utilities and Manufacturing Durables
 
Hiring of Employees will continue with Retail being most optimistic in doubling its expectation of hiring over 3 quarters ago.
 
Key economic drivers to consider in Q22010 include the upcoming local & national elections in May which translates to a rush to finish construction jobs involving government contracts before a change in administration and the opening of the a new school year in June.
 
Dr. Abola also introduced the D&B Index specific to the Philippine Economic Zone Authority or PEZA. He noted from the survey results that about 85 respondents will expect slower Sales growth in Q2 2010 while other parameters reflect slightly better results.
 
The event indeed proved to be groundbreaking for D&B in terms of creating more brand awareness in the Philippines through the BOI. A lot of feedback were positive notes and had the audience asking for more information on D&B.
 
Strategic partner for the event was Airfreight 2100. Co-sponsors were BPI Family Savings Bank, DataOne Asia, Manila Electric Company, Metrobank Card and Serendipity. Media partners were the Philippine Daily Inquirer and Global News Network.