Forty Philippine companies are set to showcase various healthy and natural food selections in the country’s third participation in the China International Import Expo (CIIE) at the National Exhibition and Convention Center, Shanghai, China on November 5 to 10, 2020.
In a statement on Tuesday, the Department of Trade and Industry (DTI) said the Philippine delegation will focus on healthy and natural food products to tap into the growing demand for nutritious fruits, snacks and ingredients in China. The delegation is under the FOODPhilippines banner led by DTI through the Center for International Trade Expositions and Missions (Citem).
Food segments that will be featured are tropical fruits and vegetables, processed fruits and nuts, healthy snacks, seafood and marine products, and other premium food selections. “Exciting products that will be featured from the Philippines are our luscious mangoes, sweet bananas, versatile coconuts, and tangy pineapple. We want the Chinese market to see the Filipino ingenuity and creativity in transforming these fruits into scrumptious snacks, refreshing juices, and other flavorful offerings,” said Citem Executive Director Pauline Suaco-Juan.
The FOODPhilippines pavilion will also showcase emerging tropical fruits such as durian, calamansi (Philippine lime), guava, and passion fruit. Seafood products including tuna, milkfish, squid, and shrimp will also be available in different packaging, including frozen cuts, in can and sausages.
Sy Group’s SM Prime Holdings saw its consolidated net income slump by 48 percent to P14.4 billion in the first nine months of the year from P27.6 billion in the same period last year. The integrated property developer in a filing on Monday said its consolidated revenue for the period also declined by 29 percent to P60.7 billion from P85 billion year-on-year.
SM Prime president Jeffery Lim said their core businesses, especially their malls, exhibited a slight recovery as the government began to reopen more industries to aid the economy in the second half of the year. Lim added that they also tightened their expenses, achieving a “major reduction” in operating expenses quarter-on-quarter. The revenue of SM Prime’s Philippine mall business for the period was down 57 percent to P18.3 billion from P42 billion in 2019. Its rental income likewise slipped by 52 percent to P16.8 billion from P35.1 billion year-on-year. Meanwhile, the revenue of the firm’s residential business headed by SM Development Corp. climbed 7 percent to P34.2 billion from P31.9 billion. SMDC’s reservation sales in January to September also inched up to P66.7 billion from P66.4 billion last year.
majority of the outstanding debts 