Superb Technology: Smart, IdeaSpace bring AngelHack to Philippines

SMART Communications, Inc. (Smart) and business incubator IdeaSpace Foundation have partnered with US-based AngelHack to launch the Philippine leg of the what is considered the world's biggest coding marathon.

The April-June AngelHack Spring Global Challenge is expected to bring in 6,000 developers in 32 cities in Asia Pacific, North America, South America and Europe.

The winners in each city will enter a three-month accelerator program under which AngelHack will help turn their big idea into a startup.

Winners will then be brought to the United States for mentorship and meetings with key people of Silicon Valley. AngelHack will also help connect the hackathon winners with angel investors worldwide.

The Philippine leg of the competition is scheduled for June 8 to 9. More details will be announced soon.

"There is a Singapore-based venture capitalist interested in investing in Asia Pacific winners. I have a good feeling someone from the Philippines will win," said AngelHack cofounder and chief executive officer Greg Gopman during the Philippine launch of AngelHack at the Jump Experience Center in SM Megamall.

"We see a lot of opportunities in the next few years in the Philippines and in Southeast Asia," he added.

Gopman said he learned about the active developer community in the Philippines when he was recently in Singapore. He said he's excited about the AngelHack partnership with Smart's developer community Smart Developer Network (Smart DevNet) and IdeaSpace.

"It's an ideal partnership because Smart really cares about the developer community.

It's also nice to know that Smart has invested in a foundation (IdeaSpace) that promotes technology entrepreneurship," Gopman said.

Smart DevNet has been organizing and sponsoring numerous hackathons and developer meetups since its launch in mid-2012. IdeaSpace, which is backed by Smart and other companies, recently named the 10 startups it will support through seed funding and mentorship.

"We encourage developers to join the Philippine leg of AngelHack so they can hack their way to the global stage. This event is like the Olympics for engineers and hackers," said IdeaSpace president Earl Valencia.

"Joining hackathons is the opposite of complaining. Instead of ranting about things, we can devise something that can solve our problems. Hackathons like this bring to the fore the country's potential game changers," said Smart developer evangelist Paul Pajo. (PR)

SunStar

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WSJ: Equity Deals Keep Coming in Singapore, Philippines

Lucio Tan

 

Reuters

Southeast Asia's recent boom in share offerings is growing louder.

In the Philippines LT Group Inc. LTG.PH +11.11%, a conglomerate owned by billionaire Lucio Tan, raised around $920 million in the country's largest-ever share offering, pricing shares at 20.50 pesos ($0.50) each  the high end of the indicative range, issuance manager UBS AG said Wednesday.

That followed Monday's report in The Wall Street Journal that the Philippine unit of Nasdaq-listed Melco Crown Entertainment Ltd. is looking to raise $377 million in a private placement. Road shows for that sale started Monday in Manila and will be held in Hong Kong, Singapore, London and the U.S., the term sheet showed.

Meanwhile, in Singapore, Taiwanese pay-TV operator Asian Pay Television Trust is testing investor appetite for a listing as a business trust that could raise up to US$810 million, people with knowledge of the deal said Wednesday.

And Croesus Retail Trust, a Japanese real estate fund, has revived a plan to raise around US$300 million by listing some of its shopping malls as a business trust in Singapore in the second quarter.

Also aiming for a second-quarter listing in Singapore is U.K.-listed Investec PLC, a fund management and banking group, which plans to raise up to US$500 million through an IPO of its aircraft leasing trust.

So far this year, Southeast Asia has seen a surge in share offerings. Both Thailand and Singapore have raised more money from new listings than Hong Kong, the world's busiest IPO market from 2009 through 2011.

The Wall Street Journal

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Brunei Sultan, Phil President Aquino vow closer cooperation

EYE-CATCHING The President's sister and incidentally the country's No. 1 taxpayer, Kris Aquino, at the state luncheon Tuesday hosted by her brother for Brunei Sultan Hassanal Bolkiah who was here on a two-day state visit. EDWIN BACASMAS

President Aquino on Tuesday vowed closer cooperation with visiting Sultan of Brunei Haji Hassanal Bolkiah and other regional leaders to find a peaceful solution to territorial conflicts in the South China Sea.

At a state luncheon for the Sultan, the President said the government wanted to "move forward" with negotiations on a code of conduct to reduce disputes in the international waterway.

The President referred to rival claims by the Philippines and fellow Asean members Malaysia and Vietnam, along with Taiwan and China over the Spratly islands and the Scarborough Shoal in the West Philippine Sea.

"This is our pledge: to continue working with our neighbors in implementing the commitments of Asean member states in the Declaration of the Conduct of Parties in the South China Sea, and in moving forward with negotiations for the adoption of a Code of Conduct," Aquino said.

The Sultan's visit comes a week before leaders from the Association of Southeast Asian Nations converge in Bandar Seri Begawan on April 24 and 25 for their 22nd summit. Brunei is this year's chair of Asean, which also includes the Philippines, Singapore, Indonesia, Malaysia, Thailand, Cambodia, Vietnam, Laos and Burma (Myanmar).

Bolkiah, for his part, vowed to foster peace and stability in southeast Asia. He also praised Aquino for his peace initiatives with Moro rebels in Mindanao.

Bolkiah said Brunei, as Asean chair this year, would "continue to work closely with the Philippines towards achieving concrete outcomes in economic growth and social progress, and in promoting regional peace and stability."

Aquino welcomed Bolkiah to Malacañang at past 10 a.m. after the latter laid a wreath at the monument of national hero Dr. Jose Rizal at the Rizal Park. A 21-gun salute boomed as the President and the Sultan stood on a platform while the anthems of both countries were played.

Bolkiah was set to fly out at around 3 p.m.

INQUIRER Global Nation

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