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Bacolod City, Philippines Tuesday, June 30, 2020
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E-commerce boosted for faster
recovery of businesses, exec says


Property giant Megaworld is boosting its e-commerce facilities to fast track the recovery of its commercial and hotel businesses, which have been greatly affected by the coronavirus pandemic, its press release said.

It is set to roll out digital platforms that are aimed at “enhancing customer experience” under the so-called “new reality”, such as ‘e-concierge’, a mobile application that allows guests to have contactless interaction with hotel staff, from check-in to check-out, including virtual ordering of food from various food and beverage outlets in the hotels.

“Our e-commerce platforms will give our customers the convenience and comfort that they need as we take their safety and well-being to a whole new level. We will also do the same for our mall customers, which will also greatly help our retail tenants,” Kevin Tan, chief strategy officer of Megaworld said.

Megaworld’s net income for the first quarter of 2020 declined by 8 percent to P3.8-billion from P4.1-billion during the same period last year.

For the period ending March 31, it registered cash reserves amounting to P25.7-billion and a net debt-to-equity ratio of 26 percent.

It also reduced its capital spending for the year from P60-billion to just P36-billion, the press release added.*


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