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Ayala targets to sell over 10,000 Kia vehicles in 2019

THE AUTOMOTIVE UNIT of Ayala Corp. (AC) targets to sell over 10,000 units of Kia vehicles in 2019, while also preparing for the introduction of three new models in the local market.
AC Automotive Business Services, Inc. said on Monday that it plans to exceed the record annual volume sold under its previous distributor.
Presenting Kia’s 15-year performance since 2003, AC Automotive Deputy Chief Executive Officer and Kia Philippines President Emmanuel A. Aligada noted that the most number of Kia vehicles sold was in 2015 at 10,010 units, translating to a market share of 3.1%.
“We’re looking at north of 10,000 by next year (for target sales)… In terms of volume, it is the lower priced vehicles. You saw that we are in 60% of the critical segments, and we are working to be competitive in several aspects,” Mr. Aligada said in a press briefing in Makati City on Monday.
Should the target be realized, this would show more than a 316% surge from 2018’s forecast sales of 2,400 units with a market share of 0.6%. Mr. Aligada said market share would also increase to 2% based on next year’s target sales.
The units will be imported from South Korea, where the Kia brand originated.
The company said it will also be unveiling three new models during its relaunch of the Kia brand on Jan. 30, 2019, bringing in models that were previously unavailable in the Philippines.
Kia Philippines currently has nine models in its 2018 lineup, with the cheapest one priced at about P635,000 to P798,000 called the Picanto. This is also the company’s best-selling model.
To support its target sales for next year, the company plans to add more dealers and outlets to its current network of 37 across the country.
Mr. Aligada said the company is setting its sights on 10 new outlets in Metro Manila alone. This will be in addition to the existing 10 outlets in the area, since more than half of the auto industry’s total sales come from Metro Manila.
The company also sees opportunities in provincial areas as far as Mindanao.
“We are working on two fronts, one is expand and improve the current setup because if we are to bring in volumes of sales therefore the current facilities must be worked on to allow for the incoming customers,” Mr. Aligada said.
“Beyond that, we’re also looking at areas where we are not: way up north, somewhere in South Luzon, even in Mindanao there are opportunity areas.”
Mr. Aligada also said they will work on strengthening partnerships with banks to ensure that they can offer customers competitive pricing packages for their units.
The Kia brand is the sixth under AC Automotive’s portfolio, following Honda, Isuzu, Volkswagen, KTM motorcycles, and Maxus which will be introduced next year. — Arra B. Francia

Spider-Man: Into the Spider-Verse swings to $35-M debut, Mortal Engines sputters

LOS ANGELES — Spider-Man: Into the Spider-Verse is the new box office king, collecting a solid $35.4 million during its first three days of release.
That’s hardly the biggest opening for an animated film this year, but it does rank as the best start for a cartoon in the month of December. Illumination’s Sing previously held that title, debuting with $35 million in 2016.
Another weekend release, Warner Bros.’ The Mule, snagged the No. 2 spot with $17 million. Clint Eastwood directed and stars in the R-rated crime drama about a nonagenarian who gets caught smuggling drugs for the cartel. The Mule, Eastwood’s first acting gig since 2012’s Trouble With the Curve, brought out a much older crowd. Moviegoers over the age of 35 accounted for 78% of audiences. In addition to Eastwood, The Mule cast includes Bradley Cooper, Laurence Fishburne, Michael Pena, and Dianne Wiest.
Not all newcomers were able to stick the landing.
Universal’s Mortal Engines launched in fifth place with a disastrous $7.5 million when it debuted in 3,103 venues. That could be catastrophic for the sci-fi saga that cost over $100 million to make. The post-apocalyptic steampunk adventure has fared slightly better overseas, picking up $34.8 million from 54 international territories, but Mortal Engines looks like it could still lose a sizable chunk of change. Peter Jackson produced the CGI spectacle, adapted from Philip Reeve’s YA novel. The middling reviews haven’t helped build momentum, and it carries a paltry 28% on Rotten Tomatoes. It’ll be an uphill battle for Mortal Engines to break through a crowded holiday frame and attract the kind of audience it needs to justify its expensive price tag.
Spider-Verse, based on Sony’s catalog of Marvel heroes, is resonating with a slightly older audience than most animated adventures. It also has plenty of time to make up ground during a holiday frame, though Warner Bros.’ Aquaman might cannibalize a bit of the superhero crowd.
Philip Lord and Christopher Miller produced Spider-Verse, which cost $90 million and takes place in a universe where more than one Spider-Man exists. Miles Morales (voiced by Shameik Moore), a Brooklynite with a Puerto Rican mom and an African American dad, puts on the Lycra-tights for this rendition. Mahershala Ali, Hailee Steinfeld, Jake Johnson, Brian Tyree Henry, Lily Tomlin, and John Mulaney round out the voice cast.
Spider-Verse has already racked up plaudits, including a Golden Globe nod for best animated feature, and boasts an impressive 97% on Rotten Tomatoes. Weeks before Spider-Verse opens in theaters, Sony announced the development of a sequel and spin-offs set in the shared multiverse.
Elsewhere, Fox’s Once Upon a Deadpool, a PG-13 re-release of Deadpool 2 picked up $2.6 million on 1,566 screens. That sum will get added to the initial run of Ryan Reynolds’ R-rated superhero comedy, which now sits at $322 million in North America and $736 million globally. The original version wasn’t released in China, but the new clean(er) cut means the Middle Kingdom could finally give the raunchy mercenary a chance.
A pair of animated flicks secured third and fourth place. Universal’s The Grinch continues to bring back solid returns, pocketing another $11.5 million this weekend for a domestic total of $239 million. Ralph Breaks the Internet earned $9.3 million in its fourth weekend of release, bringing its North American tally to $154 million. — Reuters

ALI allots up to P10 billion for Seda Hotel expansion

By Arra B. Francia, Reporter
AYALA LAND, Inc. (ALI) will be spending P8-10 billion until 2020 for the expansion of its homegrown hotel brand, as Seda Hotel enters new locations while expanding existing developments.
“The total investment is maybe around P8 to 10 billion for the future developments. This is the budget for today and the new properties (until 2020),” Seda Hotel Senior Group General Manager Andrea Mastellone said during a press briefing in Taguig City on Monday.
The listed property developer is set to launch in 2019 a second tower for Seda Bonifacio Global City (BGC) with 342 additional rooms, 214 rooms for Seda Cebu IT Park, and 293 rooms for Seda Residences Makati.
ALI decided to expand Seda BGC given the strong demand from the international corporate market in the area, noting that there are only a few players present in the city. Seda BGC is the company’s top performer in terms of revenues, with an average occupancy rate of 80% coupled with room rates of about P6,000 to P8,000 per day.
“The occupancy varies according to the areas, but the busiest is here in BGC. We’ve experienced fabulous occupancy since two months after opening, we were fully booked almost every day. We are still experiencing minimum 80%,” Mr. Mastellone said.
Across the group, Seda enjoys an average occupancy rate of about 80%.
All three hotels to be opened in 2019 will be the first in Seda’s portfolio to feature serviced residences, as the company looks to cater to guests who stay longer than two to three days.
In particular, all units at Seda Residences Makati and Seda Cebu IT Park will be serviced residences, while Seda BGC will have 48 serviced apartments.
“These guests are mostly business travelers on assignments for months and who would opt for temporary dwellings that are bigger than a hotel room, with basic home conveniences,” Seda Group Director of Sales and Marketing Melissa J. Carlos said during the press briefing.
Mr. Mastellone noted that the serviced residence concept will only be established in business districts, as there will not be much demand in the provinces.
The company will further unveil 350 rooms at Seda Manila Bay in Aseana City, Parañaque and 206 rooms at the second tower of Seda Nuvali.
The expansion forms part of the company’s plan to have 3,268 rooms across 11 locations by 2020. ALI currently has 1,863 room across nine locations, namely BGC, Cagayan de Oro, Davao City, Nuvali in Laguna, Iloilo, Quezon City, Bacolod, Cebu, and Palawan.
“With 1,863 rooms now in our portfolio and having achieved most of our annual targets, we are confident that our goal of building 1,405 more rooms in the next two years to hit our target of 3,268 rooms by 2020 is achievable and will be positively received by the market,” Ms. Carlos said.

Front(Row) and center with Momoland: direct selling group taps K-pop group

MORE THAN for its products, direct selling company, FrontRow, has initially caught the public’s attention with its powerhouse line-up of endorsers.
World boxing champion Floyd Mayweather and Miss Universe Queens Demi-Leigh Nel-Peters (2017 winner), Iris Mittenaere (2016), and Pia Wurtzbach (2015) spearheaded high-profile marketing blitzes this year for the health, beauty, and wellness firm. Former beauty queen Dayanara Torres also flew in recently for a brief modeling stint for FrontRow. Joining the roster of international stars are local celebrities Daniel Padilla and Kathryn Bernardo, James Reid, Cristine Reyes, and Ellen Adarna, to name a few.
Early this month, FrontRow took its advertising campaign to a whole new level by contracting Momoland as its newest superstar models. Momoland, one of Korea’s biggest K-pop girl groups, even held an exclusive fan meeting for select FrontRow members.
“Many were skeptical that we could get Momoland as our endorsers. But we proved that dreams do come true for our members,” said actor-director-entrepreneur Raymond “RS” Francisco, who is, together with Samuel Verzosa, behind FrontRow.
But even before Momoland, FrontRow started its foray into K-poplandia in mid-2018 with its sponsorship of Hello K-Idol, a talent search for the “ultimate Filipino K-pop idol” conceptualized by VIU, an online platform. Korean performers Yook Sungjae of BtoB and rocker Jung Joon Young were part of the series as “K-inspirations.”
At a press conference held at the newly opened FrontRow office in Quezon City, Mr. Francisco said they chose Momoland after conducting a survey on the most popular Korean group in the Philippines. The nine-member band behind such K-pop hits as “Bboom” and “Baam” easily topped the list. Its leading member, Nancy, is even more recognizable in the country due to her uncanny similarity to local actress Liza Soberano.
It was Momoland’s second visit to Manila this year. They were also here in August for a fan meeting at the Solaire Resorts and Casino.
“It’s always a treat to go the Philippine and see our Merries (the name of the group’s fans). But our visit this time around is different as we are now part of FrontRow,” said Daisy.
Aside from Nancy and Daisy (the members all use only one name), Momoland members JooE, Hyebin, Ahin, Nayun, Taeha, and Jane participated in the activities. Yeonwoo was unable to attend due to illness.
The latest visit also brought them to Vigan, Ilocos Sur for a mini-concert; a low-key hospital charity event to bring cheer to patient-fans; a series of video and photo shoots; a press conference for their public fan meeting at the Araneta Coliseum on Jan. 25; and, most importantly, the intimate gathering with FrontRow members.
“We are happy that you (Momoland) are part of FrontRow and the growing number of believers in our products,” said Mr. Verzosa.
During the fan meeting, Momoland members were armed with their trademark charm and cuteness, even agreeing to join a flash mob for the show’s opening.
The group sang “Baam” as its curtain raiser and then went on to play some games with their fans. There were several highlights in the fan meeting, such as the girls’ singing of an excerpt of “Bakit Ngayon Ka Lang” at the prodding of host Tim Yap. They also played the “What’s-in-the-Box” game, touching mysterious items inside the box and guessing what these were. The Momoland ladies also danced with one of their biggest male fans.
They closed the fan meeting with their biggest hit, “Bboom,” promising to return next month for a bigger show at the Big Dome.
Following the group’s success with the album, Great, fans are eagerly awaiting the release of Momoland’s next CD or extended play. When asked about their preferred theme for their next album, they said they are looking at a “girl crush” concept, where the members will be depicted as fierce and confident women, a 180-degree turn from their current sweet image.
But it is Momoland’s wholesome and amiable persona that FrontRow hopes will help sell the company and its products.
“Expect a lot more surprises from FrontRow soon,” said Mr. Francisco, hinting that there will be bigger star-endorsers in 2019.
For now, Momoland is front and center. — Pamela Cruz

Twin Lakes Hotel opens its doors

TWIN LAKES Hotel finally opened its doors this month, offering guests stunning views of its own vineyard, as well as Taal Lake and volcano.
The 122-room hotel is located within Global-Estate Resorts, Inc.’s (GERI) 1,200-hectare integrated tourism estate Twin Lakes in Laurel, Batangas. It is managed by Megaworld Hotels, which has experience handling homegrown brands Richmonde, Belmont, and Savoy.
During the opening last Dec. 8, Twin Lakes Hotel General Manager Jun R. Jimenez said the hotel can take advantage of the strong demand for rooms in the Tagaytay area.
Mr. Jimenez noted Twin Lakes Hotel has the distinction of being the only hotel in the Philippines with an actual grape-growing vineyard in its backyard.
Inspired by old European architecture, the hotel also has bigger function rooms that are perfect for weddings, conventions and similar gatherings.
“The ballroom can accommodate 500 to 600… You see the concept why Megaworld came out with a big function room because they want to cater banquets, weddings, celebrations, conventions… we want to concentrate on both rooms and functions,” Mr. Jimenez said.
The hotel offers Superior rooms sized up to 34 square meters (sq.m.), Deluxe and Executive rooms (both up to 38 sq.m.), and two-bedroom Family Suites and Presidential Suites (both up to 86 sq.m.). The suites have their own living areas. Rates range from P7,000 to P20,000.
The hotel also has an all-day dining restaurant, Twin Lakes Cafe facing the vineyard and the Taal Lake, an in-house spa, heated infinity pool, and the grand ballroom.
Twin Lakes Hotel is within walking distance of the Twin Lakes Shopping Village, which boasts of having the “most beautiful Starbucks in the Philippines.”
Mr. Jimenez said the company sees the new hotel as an opportunity to attract potential buyers for the residential condominiums within Twin Lakes.
“People from the condo do not have anything to do with the hotel but they do have some privileges like discounts. I think the concept of Megaworld is this is a good eye-catcher to the prospective buyers of the condo because they are planning to put a lot of units here,” he explained.
GERI, a subsidiary Megaworld Corp., has launched several residential condominiums at Twin Lakes, namely The Vineyard Residences, Swiss chalet-inspired The Manor, and The Belvedere. It is also developing two residential villages, namely Domaine Le Jardin and Lucerne.
“I think it’s a community. What they want for the area is when they go to Twin Lakes, everything is here,” Mr. Jimenez said.
Other development by GERI are Boracay Newcoast in Malay, Aklan, Eastland Heights, Southwoods City in Laguna and Cavite, Alabang West in Las Piñas, and The Hamptons Caliraya in Lumban-Cavinti, Laguna. — Vincent Mariel P. Galang

Globe to implement 8-digit landline numbers in mid-March

GLOBE TELECOM, Inc. said it will start changing by March next year the landline numbers of its customers in Greater Metro Manila from a seven-digit telephone number to an eight-digit combination, in compliance with an order from the National Telecommunications Commission (NTC).
The company said in a statement on Monday all its customers that have a landline subscription with an assigned area code of 02 will have an additional “7” at the start of their phone numbers starting March 18, 2019.
This means that customers of Globe and its subsidiary Innove Communications, Inc. with a telephone number of (02) XXX-XXXX will have a new number that is (02) 7XXX-XXXX.
Customers of another Globe subsidiary, Bayan Telecommunications, Inc., will likewise change phone numbers from (02) 3000-XXXX to (02) 3499-XXXX.
“We are working closely with the NTC and other telcos to assist affected customers before, during and after the migration. We would like to see all our customers being aware of this change before it comes into effect,” Globe General Counsel Vicente Froilan M. Castelo said in the statement.
Last year, the NTC issued Memorandum Order No. 10-10-2017 which required a public telecommunication entity (PTE) identifier for fixed-line numbers under the area code 02. This puts an additional digit in landline numbers, making it an eight-digit telephone number for residents in Greater Metro Manila area.
“This directive is to ensure there will be sufficient resource pool to cater to the rapid growth of landline customers in major cities,” Globe said.
Aside from Globe’s and Bayan’s, other PTE identifiers are “8” for PLDT, Inc. and Digital Telecommunications Philippines, Inc.; “6699” for ABS-CBN Convergence, Inc.; and “6999” for Eastern Telecommunications Philippines and Telecommunications Technologies Philippines, Inc.
The Ayala-led telco company noted customers may experience downtime during the transition period, which it scheduled on March 18 from 12 a.m. to 5 a.m.
For the three-month period from March 18 to June 17, Globe said it will play a special announcement to whoever will mistakenly dial old seven-digit landline numbers to inform them of the new eight-digit format with the PTE identifier. — Denise A. Valdez

Winner takes it all

By Cecille Santillan-Visto
Concert Review
Winner 2018 Everywhere Tour in
Manila
Nov. 10
Mall of Asia Arena
TELEVISION TALENT contests may be either a boon or a bane for budding Korean artists. While many proceed to make a name for themselves after the competition, some have fallen into oblivion after their 15 minutes of fame.
Others, like K-pop group Winner, are still in the midst of proving themselves worthy of the clinching the championship.
Winner is comprised of the winning members of the reality survival program WIN: Who is Next, produced and shown by Korean broadcasting company MNet in 2013. YG Entertainment was looking to introduce a new boy band and pitted two teams of talented newbies against each other. Team A prevailed and debuted as Winner.
It was the second time that Winner performed in the Philippines. The group served as the opening act in the last concert of labelmate, 2NE1, for the Manila leg of its All or Nothing World Tour in 2014.
Mino, Jinwoo, Seungyoon, and Seunghoon (they all go by just one name) returned to perform for their Filipino Inner Circles, as their fan group is called, sans Taehyun, reportedly a “problematic” member who recently broke away from the group.
Though one member short of the original lineup, Winner proved that it was deserving of the crown. Although the SM Mall of Asia Arena stage appeared too huge for the four of them, their performance was big enough to reach even the farthest fan at the General Admission section of the venue.
During the two-hour show, Winner sang some of its biggest hits, including its chart toppers, “Really Really” and “Everyday.” They also dished out the most popular cuts in their albums 2014 S/S, Everyday, and Our Twenty For.
Winner also covered some songs of their other YG labelmate, Big Bang. They performed Taeyang’s “Ringa Linga” (Seunghoon) and G-Dragon’s “Untitled 2014” (Jinwoo), and fortunately, they did not disappoint, living up to the high standards of the two established K-pop artists.
The sexy solo numbers of Mino, “Body” and “Turn Off the Light,” were accompanied by loud shrieks from the fans. However, he kept it wholesome by keeping on his red coat on but unbuttoning it enough to give the fans a glimpse of his well-toned body.
From the opening songs “Empty” and “Air,” up to the encore “Don’t Flirt,” “Luxury,” “Really Really,” and the remix of “Everyday,” Winner literally lived up to its winning persona. They were very accommodating to fans, taking selfies and were generous with hi-touches. As I was at the VIP standing area, I witnessed closehand the warmth and kindness the Winner members bestowed to their loyal followers.
The same stage was used in the concert of co-labelmate, iKON, who also had a Manila concert on Nov. 11. Pulp Live World arranged the stage, as well as the lights, sounds and LEDs in a level deserving of the K-pop stars — colorful, vibrant and spectacular.
The Mall of Asia Arena was a sea of nebula blue with fans waving their official light sticks throughout the concert.
It was one of Winner’s winning moments and their Pinoy fans can be sure it will not be their last performance here.
The way their career is tracking, Winner’s winning streak is just beginning. With the right projects and careful handling, the boys may be in it for the long haul.

Project T expanding with 2nd BGC facility

By Vincent Mariel P. Galang
PROJECT T recently launched its second facility in Bonifacio Global City, in response to the strong demand for its serviced office and co-working space.
During the soft launch of the new facility in Twenty-five Seven McKinley last Dec. 5, Project T officials said they took notice of the feedback from clients at its first facility in Bonifacio Stopover Corporate Center.
“Sometimes, if you get a negative feedback pwede mong i-turn [you can turn it to] as positive to make it… be closer to perfect,” Alvin Terrence G. Hong, of Project T, told BusinessWorld.
Kevin D. Cabrera, information technology director of Project T, said feedback signals that the clients care about the company by pushing them to improve the business.
Compared with its competitors, Project T aims to be more flexible when dealing with clients.
“We’re more flexible… Wala pa kong client na nag-no na ko [I have not said no to a client before]. May discount, s’yempre, hindi naman ‘yung hindi mo na kaya [Of course, there are discounts that are still reasonable], but in terms of pricing, in terms of length ng contract, whether it’s an hour, a day, weekly, monthly, or a year, we provide that,” Nicole Dacula, vice president of Project T, said during the same interview.
Ms. Dacula said the company also tries to retain the “feeling” of a small company by taking good care of its clients.
Spanning 2,300 square meters (sq.m.) or two floors, Project T’s new facility has a total capacity of 500 seats of serviced office space. There are three classifications: A — premium, spacious office space at the corner with big or small windows; B — office with windows but is not located at the corner; and C — simple office space with no windows.
Unlike the first facility which had more B and C offices, the new facility has more premium spaces due to strong demand.
Project T’s co-working space on both floors can accommodate up to 50 people. It also offers virtual offices for those clients who do not need a physical office yet.
The hub will have conference rooms, meeting rooms, training rooms, an event space, and pantries. There is also a game room, gym with shower area, sleeping quarters, a clinic and a lactation area.
Some rooms can also be converted into yoga/zumba/dance studios, or movie rooms, or whatever format a client needs.
Project T’s internet connectivity allows for connection between the two facilities, but has a speed of over 250 megabits per second (mbps) only in the second building. There are in-house technicians prevent online interruptions 24/7.
Rates range from P1,500 per month for virtual offices and P5,000 per month for the co-working space. For office spaces, the rate ranges from P14,000 to P20,000 per seat.
The second facility will be fully operational by January 2019.
Project T is planning to expand to other areas in Metro Manila, possibly Alabang, Mandaluyong, or Pasig by first half of 2019. There are plans to expand nationwide within the next two to three years.
Founded in 2017, the Filipino-lead office space and co-working space provider caters to different types of companies, especially the start-ups.
Project T also offers other services like staff leasing, human resources, payroll, and business registration.

Metro Pacific gets P20-B loan to finance capital expenditures

METRO PACIFIC Investments Corp. (MPIC) has obtained a P20-billion syndicated loan facility to finance its capital expenditures.
In a disclosure to the stock exchange on Monday, the infrastructure conglomerate said it has signed the 10-year syndicated term loan facility.
“Proceeds of said term loan facility will be used by MPIC to fund capital expenditures and for other general corporate purposes,” MPIC said.
BDO Capital & Investment Corp. and BPI Capital Corp. served as the arrangers and book runners for the loan.
The local unit of Hong Kong-based First Pacific Co. Ltd. said in 2017 that it plans to spend P653 billion in capital expenditures over the next five years, as it plans to further grow its toll roads, power, water, hospital, logistics, and railways units in the future.
Majority of the spending will be poured into its power business, in order to support the expansion of Manila Electric Company’s (Meralco) power generation capacity as well as Global Business Power Corp. (GBP)’s foray into renewable energy sources.
The company is also spending P125 billion until 2022 for Metro Pacific Tollways Corp. to pursue six projects, including the extension of the North Luzon Expressway, the Cavite-Laguna Expressway, the Cavite-C5 South Link, and the Cebu Cordova Link Expressway.
MPIC has allotted P45 billion for Maynilad Water Services, Inc. during the same period, as it pursues bulk water projects in the country as well as other projects in the Association of Southeast Asian Nations (ASEAN) region.
Meanwhile, Light Rail Manila Corp. will have a budget of P70 billion to upgrade and maintain Light Rail Transit Line 1. The hospital unit through Metro Pacific Hospital Holdings, Inc. has cornered P13 billion of the capital spending.
For this year alone, MPIC has committed to spend about P100 billion for its expansion.
MPIC booked a core profit of P12.2 billion in the first nine months of 2018, eight percent higher year-on-year as system-wide revenues also jumped by eight percent to P302.9 billion in the same period.
The company targets to end the year with a core net income of P15 billion, expecting slower growth in the fourth quarter. This would indicate a six percent increase from MPIC’s core net income of P14.1 billion posted in 2017.
MPIC is one of three Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being PLDT, Inc. and Philex Mining Corp. Hastings Holdings, Inc. — a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc. — maintains interest in BusinessWorld through the Philippine Star Group, which it controls.
Shares in MPIC dropped 1.47% or seven centavos to close at P4.70 each at the stock exchange on Monday. — Arra B. Francia

Anti-harassment groups share $20-M CBS handout

LOS ANGELES — CBS Corp. on Friday named the Time’s Up anti-sexual harassment group and 17 other organizations that will share a $20 million donation stemming from the exit of its chief executive Les Moonves following allegations of sexual misconduct. Time’s Up and the body representing Hollywood producers swiftly announced that they will spend their share of the funds on programs to increase diversity in the entertainment industry, and provide anti-sexual harassment training. CBS said in a statement that the $20 million grant was part of the company’s separation agreement with Mr. Moonves and “was deducted from any severance benefits that may be due to him.” Mr. Moonves, a major figure at the CBS broadcast network for more than two decades, was forced out in September after multiple allegations of sexual misconduct. Mr. Moonves has acknowledged three of the encounters but said they were consensual, and denied others. He was the most powerful US figure to have been brought down in the #MeToo scandal that has roiled Hollywood, politics and boardrooms since October 2017. The organizations receiving the CBS funds, including the #MeToo social media movement and the anti-sexual violence group RAINN, said the money would “drive real progress” in ending sexual harassment. But they added in a joint statement: “We also recognize that these funds are not a panacea, nor do they erase or absolve decades of bad behavior.” — Reuters

Cathay Land keeps investing in Silang, Cavite

CATHAY LAND Inc. is betting big on Silang, Cavite, as it continues to launch new projects to take advantage of the area’s growth potential.
The property developer this year opened the 20-hectare Acienda Designer Outlet, and plans to expand its existing projects Mallorca City and Cavite Light Industrial Park.
Cathay Land began investing in Silang 15 years ago when it began developing the 500-hectare masterplanned community, South Forbes Golf City.
Cathay Land President Jeffrey Ng said South Forbes now has boutique communities, commercial buildings, an award-winning 18-hole golf course, as well as Microtel and Destination hotels.
This year, the company launched two low-rise residential condominium projects in South Forbes Golf City, namely Stanford Suites 3 and Fullerton Suites.
There are plans to launch Mallorca Villas Phase 2 and the second phase of CLIP, which will add 60 hectares, soon.
Mr. Ng also said the company partnered with Ayala’s Alveo Land to develop a 50-hectare area in Barangay Hukay into a commercial and residential project called Hillside Ridge.
For the newly opened Acienda Designer Outlet, Mr. Ng expressed confidence the country’s first “true international outlet mall” will draw more tourists to Silang.
“We would like to see tourists coming not only to Tagaytay, but also to Silang as well. With the expected completion of the interchange of the Cavite-Tagaytay-Batangas Expressway (CTBEx), whose exit will be right beside this outlet in three years’ time, we have no doubt that this area of Silang will continue to progress and boom in the years ahead,” he said.
Freeport Retail Co-founder and Director Chris Milliken, whose company partnered with Cathay Land for Acienda Designer Outlet, said the outlet mall will create jobs in the area.
“I have been doing this for 25 years, and I have seen what it can do to a locality. This will really boom and create about 800 jobs. Because ADO presents what a proper outlet store is all about, with great planning, proposition, consumer experience, the future is bright for this business and for the community,” Mr. Milliken said.

8990 taps SM Hypermarket as anchor tenant for mall

MASS HOUSING developer 8990 Holdings, Inc. has tapped SM Hypermarket as the supermarket operator for its first mall development in Tondo, Manila.
In a disclosure to the stock exchange on Monday, the listed firm said it has signed an agreement with SM Hypermarket to be the lead anchor tenant for Deca Mall, which is set to open in the second quarter of 2019.
SM Hypermarket will occupy 3,073 square meters (sq.m.), comprising about a sixth of Deca Mall’s 18,000 sq.m. worth of gross floor area.
“By bringing in SM Hypermarket as the anchor tenant of Deca Mall, Urban Deca Homes residents and those from the environs no longer have to travel far for their everyday shopping needs,” 8990 Holdings President and Chief Executive Officer Willibaldo J. Uy said in a statement.
The P452-million Deca Mall will also house up to 450 small and medium enterprises in addition to a tiangge at the second floor.
The mall stands within 8990 Holdings’ 13-tower residential complex called Urban Deca Homes Manila. This is the company’s second largest project to-date, following a similar project in Ortigas Extension that will be launched in the first quarter of 2019.
Urban Deca Homes Manila covers a total area of 8.4 hectares, offering more than 13,000 residential units valued at about P20 billion. 8990 Holdings targeted residents of Tondo, the Port Area, Intramuros, Divisoria, and the Camanava (Caloocan-Malabon-Navotas-Valenzuela) area for the project, addressing the housing needs of those living in these densely populated areas.
The property developer has already sold out all units in the project, given the low amortization rates of P9,000 to P11,000 per month.
8990 Holdings booked a net income attributable to the parent of P3.41 billion in the first nine months of 2018, 38% higher than the same period a year ago as gross revenues also surged 41% to P8.63 billion.
The company expects 2018 to be another banner year, targeting P11.5 billion worth of revenues and about P4.49 billion in earnings by year-end.
Shares in 8990 Holdings went up by a centavo or 0.13% to close at P7.75 each at the stock exchange on Monday. — Arra B. Francia

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