Along with increased support from the government, the country’s rice productivity and output also increased. In 2023, Philippine rice production will exceed 20 million tons for the first time, an increase of 1.5% compared to 2022.
Previously, Mr. Phung Van Thanh – Vietnam Trade Counselor in the Philippines, commented that space and opportunities still exist for our country’s rice export enterprises to continue to exploit and expand markets, increasing export turnover. exported to the Philippines.
However, he also warned that Thailand is looking for ways to increase production and market share of rice exports to the Philippines and compete with Vietnamese rice.
Therefore, rice export businesses need to continue to coordinate with ministries and branches to implement promotion, propaganda and promotion programs for Vietnamese rice products. In addition, it is necessary to diversify products, not focusing too much on high quality rice but also exploiting medium quality rice to serve a large number of people with middle and low incomes.
According to the provisions of Order No. 50 issued by President Ferdinard R. Marcos Jr. signed, rice from countries importing to the Philippines are subject to a 35% import tax – applicable until the end of 2024.
Data from the Vietnam Food Association shows that, from the beginning of the year until now, our country’s export rice prices have fluctuated in a sharp downward trend.
By March 27, the export price of Vietnam’s 5% broken and 25% broken rice decreased to 582 USD/ton and 558 USD/ton, respectively. Meanwhile, the price of rice of the same type in Thailand is 599 USD/ton and 551 USD/ton respectively.
Although export rice prices have dropped sharply, preliminary statistics from the General Department of Customs show that our country’s rice export turnover has exceeded the 1 billion USD mark as of March 15. The rice industry aims to export about 8 million tons this year, with an estimated turnover of 5 billion USD.
The world’s largest rice buyer increased imports from Thailand, alarming Vietnamese rice
“Controversy Surrounding California’s New Fast-Food Labor Law: Ice Cream Shop Owner Questions Exemptions and Labor Group Influence”
Controversy Surrounding California’s New Fast-Food Labor Law: Ice Cream Shop Owner Questions Exemptions and Labor Group Influence
Entities involved in determining which establishments will be subject to the law include the labor commissioner’s office, the fast-food council, and potentially the courts. Governor Newsom’s spokesperson, Alex Stack, emphasized that these entities will play a crucial role in determining exemptions.
Higher Wages for Fast-Food Workers
Despite attempts to seek clarification, Campbell has faced hurdles. Unite Here informed her that they were unable to assist as they focused on ensuring their union workers were exempt from the law. SEIU only responded after Campbell and other franchisees hired an attorney. A SEIU representative was scheduled to visit a Handel’s location in Southern California to assess whether the chain should be exempt but ultimately canceled without rescheduling. Campbell believes that an exemption for ice cream shops should have been included in the cleanup bill and feels compelled to pursue her own legislation.
An Ice Cream Shop Caught in the Crossfire
As California’s new fast-food labor law is set to go into effect, the owner of an ice cream shop in Southern California is raising concerns about the application of the law and the involvement of a labor group in determining exemptions. The law has been shrouded in controversy, with allegations that Governor Gavin Newsom pushed for a special exemption for bakeries to benefit one of his billionaire donors who is a Panera franchisee. Nondisclosure agreements were also utilized during the last-minute negotiations of the law.
Defining “Fast Food” and Its Implications
Despite the ongoing controversy and uncertainty, Campbell remains determined to seek clarification and resolution for ice cream shop owners like herself. With potential legal action on the horizon, the fate of ice cream shops under California’s fast-food labor law hangs in the balance.
As April 1 approaches, when the wage increase takes effect, the SEIU California spokesman stated that the new law would provide much-needed relief for over 500,000 workers in the state. The SEIU has dismissed previous reporting on their use of nondisclosure agreements as a “nothingburger.”
Negotiations Behind Closed Doors
The new law mandates major fast-food chains operating in California to pay their workers a minimum of per hour starting from April 1. Additionally, these chains are required to follow pay raise guidelines and other rules established by a special state council until at least 2029.
Seeking Clarification and Support
The inclusion of ice cream shops in California’s new fast-food labor law has left business owners like Campbell frustrated and seeking answers. Despite their efforts to engage with state lawmakers, many remain unresponsive or unable to provide written confirmation regarding the intent of the law. As Campbell hires lobbyists and attorneys, legal action remains a possibility.
Campbell has reached out to Governor Newsom’s office multiple times without receiving a response. Assemblyman Chris Holden, who wrote the law, claims he was not part of the negotiations and directed Campbell to the SEIU and Unite Here, two groups working on a cleanup bill (A.B. 610) to exclude restaurants with workers covered by collective bargaining agreements. However, due to the use of NDAs by the SEIU, other labor groups were left unaware of the negotiations in 2023.
A Call for Clarity and Action
According to the new fast-food labor law in California, a “national fast food chain” refers to a collection of limited-service restaurants with over 60 establishments across the country. These establishments share a common brand and exhibit standardized options for decor, marketing, packaging, products, and services. They predominantly provide food and beverages for immediate consumption on or off premises, with patrons typically ordering or selecting items and paying before consuming, often without table service. The law also specifies that a “limited-service restaurant” includes establishments classified under the North American Industry Classification System (NAICS) Code 722513.
The new labor law was negotiated privately and led by Governor Newsom’s office. Discussions surrounding the law were protected by nondisclosure agreements required by the Service Employees International Union (SEIU). Governor Newsom’s office denies any involvement in signing these NDAs. The outcome of these negotiations was made public on the third-to-last day of the 2023 legislative session, leaving no room for changes before its passage. Consequently, small business owners like Campbell may never know how the decision was made to include specific chains.
Gaby Campbell, a franchisee of a Handel’s Ice Cream location, has been grappling with the question of whether her shop falls under the purview of the new law. In a virtual testimony at the state’s fast-food council meeting on March 15, Campbell pointed out that federal law does not categorize ice cream shops and similar snack vendors as “limited-service restaurants,” which are the primary targets of the law. Handel’s Ice Cream specializes in ice cream treats and operates over 120 locations nationwide, with around 40 of them situated in California. Campbell argues that her employees, mostly high school and college students who work part-time, can already earn more than per hour during warmer months when accounting for wages and tips.
Campbell highlights that ice cream parlors are classified under a different NAICS code, known as 722515, according to the North American Industry Classification System. She questions whether the phrase “not limited to” used in California’s law encompasses her parlor. If so, this could potentially bring other similar establishments such as chain yogurt shops, pretzel vendors, boba tea shops, cinnamon bun shops, Golden Corral, and Sizzler under the umbrella of the law.
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APO’s Successful IPO Subscription Sets the Stage for Future Growth and Investment
APO closes IPO subscription. Investors are responding well. All 100 million shares were sold, preparing to enter the trading floor on April 2, ready to move forward with investment in improving machinery. Increased efficiency of APM’s production system, revealing high growth potential after fundraising KFS is confident stocks have good fundamentals.
Somsak Sirichainaruemit Chief Executive Officer of Asset Pro Management Company Limited or APM as financial advisor to Asian Palm Oil Public Company Limited or APO revealed that APO is preparing to trade on the Market for Alternative Investment (MAI) today first on 2 April in the business agricultural and food industry category (AGRO), 100 million shares, par value (par) 0.50 baht per share, offering price 0.99 baht per share, with share subscription open on March 25-27. This past July, which received a good response from investors and expressed confidence in the potential of the business.
Because APO has studies to modernize the business. Willingness to procure high quality raw materials on a regular basis. Moreover, the company is poised for growth. In addition, palm oil industry factors are likely to grow according to demand at home and abroad. There is also promotion by the government, such as using crude palm oil to develop higher value products.
Dr. Woranan Thawornan, Executive Director and Managing Director Kingsford Securities Public Company Limited or KFS said that as the underwriter for the newly issued ordinary shares, APO will receive interest from investors in trading on the Market for Alternative Investment (May) due to the price that the IPO proposal offers is appropriate Considering the operating potential of the company Strong financial position and good financial liquidity
By setting the IPO price at 0.99 baht per share, taking into account the ratio of share price to book value (Price to Book Value: P / BV), the value is equal to 1.00 times, and if you consider direct competitors with the company alone, there is Only UVAN VPO and UPOIC, which operates a similar business to the company, has an average P/BV of 1.55x.
Mr. Sittipas Udomphonkul, CEO of Asian Palm Oil Public Company Limited or APO, an expert in crude palm oil extraction business. Selling main products from crude palm oil extraction and by-products. Produces electricity from biogas to be sold to the Provincial Electricity Authority He said the company would like to thank investors for their interest in subscribing to the company’s additional ordinary shares. This made the IPO share offering a great success. This funding round will enable the company to expand its operational potential. Create growth in accordance with the operational plan that has been set out.
“The company has a plan to improve the production process. Change the autoclave machine from horizontal to vertical. Increase the efficiency of the palm oil production system To obtain good quality oil Help to protect the environment Reduce greenhouse gas emissions and reduce costs in the palm oil production system The rest of the money raised will be used as working capital for business expansion. Support the demand for crude palm oil Increase your chances of competing and making a profit. to create sustainable growth in the future,” said Mr. Sittipas.
#APO #delighted #IPO #selling #million #shares #ready #start #trading #2nd #April
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APO’s Successful IPO Subscription Sets the Stage for Future Growth and Investment