Tag: Philippines

109-yr-old Philpost bent on staying relevant in Internet age

Posted by | Nov 5, 2007 | |

Aside from a P6-billion modernization project to increase efficiency, the Philippine Postal Corporation is mounting efforts to curb theft and restore the public’s trust in their services.

Philpost, which celebrated its 109th anniversary Monday, is bent on remaining relevant despite the emergence of Internet and text messaging, said postmaster general Hector Villanueva.

The P6-billion computerization with the help of Japanese investors, he stressed, will make Philpost competitive once more in the delivery service in a year’s time.

“This will bring the Post Office to the 21st century. We will more than double our revenue, and be able to trace every letter. With our Internet capability we will be able to compete with money order, both international and domestic,” he said, adding that modernization is expected to bring billions more to their yearly USD 3 billion income.

Even without computers, Villanueva said OFW relatives will get their money’s worth since the Philpost only charges USD 3-USD 4 for USD 500 remittances against USD 57 from private companies. To attract more OFWs, Philpost will launch its “International Money Order” on Nov. 12 to service their needs.

Relatives of OFWs in Brunei, Hong Kong, Indonesia, Iran, Japan, Korea, Kuwait, Malaysia, Qatar, Singapore, Thailand and United Arab Emirates will benefit from the IMO since they will only need an ATM account to send or retrieve money.

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Western Union to Take Equity in Singapore Agent

Posted by | Oct 10, 2007 | |

The Western Union Company will take a 49 percent equity stake in its Singapore agent, Western Union Global Network (WUGN) – a subsidiary of Singapore-listed Hersing Corporation Ltd.

The acquisition is in line with Western Union’s stated strategy to take or increase equity stakes in key agents and continue to strengthen its global agent network.

Western Union’s current investment will be upgraded to ordinary shares. Western Union will now earn a pro rate share of profits of WUGN and enjoy enhanced voting rights. The deal also includes a long-term extension of WUGN’s representation agreement to offer Western Union money transfer services at more favorable commission rates. Under the terms of the agreement, Western Union is now able to explore additional agent relationships in Singapore.

Western Union entered the Singapore market with Hersing in 2001, and the business now boasts more than 60 locations throughout the country through Agents RHB Bank, American Express and SingPost. The city is home to the world’s largest Western Union flagship store at Lucky Plaza.

“Singapore, with its transient worker population, is a key market for growth for Western Union,” said Sunil Balagopal, regional vice president for South East Asia, Western Union. “This agreement reinforces our commitment to this market and strengthens our relationship with Hersing. We look forward to exploring more opportunities for innovation in providing money transfer services in Singapore.”

“Western Union’s money transfer service is trusted by millions of consumers globally to quickly and reliably send and receive money,” continued Balagopal. “We’re confident that this agreement will ensure that we can offer both consumers and Agents in Singapore the best possible service.”

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Western Union Secures Top Agents for Philippines Market

Posted by | Sep 24, 2007 | |

The Western Union Company has signed new, multi-year agreements with three of its top agents in the Philippines to offer Western Union(R) money transfer services. The three companies – Universal Storefront Services Corporation, e-Business Services Inc and PETNET Inc – together represent nearly 4,800 Western Union Agent locations in the country(1).

In addition, the company has increased its existing footprint with the addition of three new agents in the Philippines: Direct Agent 5 Inc., a consortium of consumer service enterprises; JP Tambunting pawnshops and Davao-based retail chain EMCOR Incorporated.

“The Philippines is a very important market for Western Union,” said Mr. Ian Marsh, Executive Vice President, Asia Pacific, The Western Union Company. “Outside of the United States, it is second only to Mexico for inbound remittances and has tremendous growth potential as both a key receive and intra-country market.”

The Philippines is the fourth largest receiver of remittances in the world, according to the World Bank(2). The Bangko Sentral ng Pilipinas (Philippines Central Bank) estimates that remittances from overseas will exceed USD 14 billion this year. There are currently over eight million Filipino workers overseas(3).

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European courier TNT eyes Subic logistics facility

Posted by | Sep 12, 2007 | |

European courier TNT NV is looking at the possibility of taking over the Subic Bay logistics facility that will be vacated by US-based Federal Express when it relocates its Asia-Pacific hub operations to Guangzhou, China next year.

Sources said the Dutch courier, in line with its expansion binge amid increased traffic in the region, could be eyeing the Subic facilities currently being used by FedEx for its Asia- Pacific regional hub operations.

Earlier, the country tried to lure another foreign courier to take over the facility, which is adjacent to the Subic Bay International Airport.

European courier DHL International GmBH has announced as early as last year that it was definitely not taking over FedEx’s facility in Subic.

US-based United Parcel Service of America Inc., on the other hand, has a hub in Clark, Pampanga.

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