Suite 601, 6th Floor West Tower, Philippine Stock Exchange Center, Exchange Road, Ortigas Center, Pasig City, Philippines 1605
1,619 square meters
Photoshop – 16 Licenses
NUMBER OF HALF HOURS DELIVERED
It's now a matter for the history books that the GFC started a global wave of economic trauma and a redistribution of global economic wealth.
The collective economies of Europe and the United States are struggling to regain traction. Some countries such as Greece are on the brink of economic collapse. The West is heavily laden with debt and confidence remains low. On the flip side, Asia is moving forward at a very fast rate of knots.
The Philippines as part of Asia continues to display robust growth and the inward cash flow associated with the increasing foreign investment has created sizeable cash reserves. This is great for the domestic economy but not so good for exporters like us who have to deal with the fact that the Peso has strengthened against the US Dollar by 18% in the past 15 months and 25% in the past two to three years.
As an exporter, the challenge for us is to absorb the increase in costs caused by the stronger currency while still maintaining a superior level of service to our clients. Thankfully, Top Draw has strong fundamentals and we're well placed to meet the challenges ahead.