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Holcim PHL to spend nearly $300M on capacity expansion

By Arra B. Francia, Reporter
HOLCIM PHILIPPINES, Inc. is allocating almost $300 million to hike capacity by a third by 2020, banking on the rollout of the government’s infrastructure program.
The listed cement manufacturer said in a statement on Monday that the investment will be used to upgrade its facilities in Bulacan and Misamis Oriental. This includes the installation of new kilns, mills, and waste heat recovery systems.
“Our capacity expansion ensures that we can provide a steady supply of quality building materials to support the government’s infrastructure program and the resulting construction activity from the economy’s sustained rise,” Holcim President and Chief Executive Officer John W. Stull said in a statement.
This investment comes on top of Holcim’s $54-million capital infusion to expand its cement production in La Union and Davao, which is expected to bring its capacity to 12 million metric tons by 2019. In 2016, the firm also conducted debottlenecking activities across all its sites, raising cement capacity to 10 million metric tons from 8.5 million.
Holcim expects its annual capacity to reach 13 million metric tons by the end of its expansion efforts.
“This investment is proof of our confidence in the country and our commitment to be a strong partner for progress. With this, Holcim Philippines will continue being a reliable partner in building a better future for the country,” Holcim Chairman Tomas I. Alcantara said in a statement.
Holcim reported a 47.58% drop in net profit to P176.88 million in the third quarter of 2018, as heavy rains in September dampened overall demand for cement products. Sales for the period stood at P8.52 billion, 3.15% higher year-on-year.
On a nine-month basis, Holcim’s net profit fell by 24.35% to P1.74 billion, tempered by price pressures due to the rise in costs of fuel, power, and distribution. The company’s performance was further hit by the weaker peso that affected imported production inputs.
Meanwhile, net sales went up by six percent to P27.3 billion in the same period, which the company attributed to successful commercial initiatives.
Holcim mirrored the lackluster performance of other listed cement manufacturers during the third quarter, as the industry was hit by higher input costs and the weaker peso.
Incorporated in 1964, Holcim is part of the LafargeHolcim Group, which is involved in building materials present in about 80 countries. The local firm has manufacturing facilities in La Union, Bulacan, Misamis Oriental, and Davao. Its cement products include Holcim Premium, Holcim 4X, Holcim Excel, and Holcim WallRight Cement.
Shares in Holcim gained 1.38% or eight centavos to close at P5.88 each at the stock exchange on Monday.

Netflix tiptoes into theaters, but keeps box office quiet

NETFLIX INC. has an Oscar contender on its hands with Roma, a drama about a Mexico City family from Academy Award-winning director Alfonso Cuaron.
The company thought enough of the film to break with one of its foremost traditions: Netflix released Roma in US theaters late November ahead of its online debut — anathema for the world’s biggest paid video-streaming service. But since then, the company hasn’t followed the typical playbook for promoting a likely Oscar winner.
The film’s run in a handful of theaters went largely unremarked, and that was intentional. Netflix asked Comscore Inc. — the main company that gathers box office data — not to monitor its impact.
“Netflix has made the decision to not participate in the sharing of their theatrical box office data,” Paul Dergarabedian, senior media analyst at Comscore, said in an e-mail. “Comscore will, of course, abide by their wishes.”
MISSED OPPORTUNITY?
Comscore collects raw sales data directly from theaters, which is then confirmed and distributed to studios and the press. Netflix specifically asked for that data not to be harvested with Roma.
In the process, Netflix may have missed a chance to build some buzz.
“Traditionally, the reporting of box office revenue offers studios the opportunity to tout their success while sparking a conversation about their movies,” Mr. Dergarabedian said.
Netflix, based in Los Gatos, California, declined to comment.
Giving Roma a theatrical run is expected to help improve its Oscar chances, since the Academy of Motion Picture Arts and Sciences doesn’t usually consider films that debuted online. But it’s clear that Netflix isn’t prepared to operate like a typical Hollywood studio. The company also doesn’t share figures on how many people view its films online, forcing the industry into a guessing game.
Netflix’s secrecy haven’t stopped industry watchers from trying to gauge the theatrical success of Roma. Over the Thanksgiving weekend, it was estimated to have grossed $200,000, or $66,600 per screen, trade publication Deadline estimated.
NEARLY SOLD OUT
According to online ticket seller Atom Tickets, Roma’s shows were nearly sold out on opening week. New York was the best performing market for the film, followed by San Francisco and Los Angeles.
Roma was never expected to be a US blockbuster: It’s a black-and-white drama that draws on the childhood experiences of Mr. Cuaron, who won an Oscar for Gravity. The movie is showing in independent theaters, such as Landmark and IFC. (Major exhibitors like Cinemark Holdings Inc. typically don’t show films unless they abide by the two- or three-month exclusive theatrical window the industry has set.)
Netflix has put out ads promoting the movie’s run, which began on Nov. 21 in Los Angeles, New York, and Mexico. Roma also opened in London last week, and it’s set to expand further in early December. It then will land on Netflix’s digital service on Dec. 14.
Last weekend, Netflix said the theater count is 18 in the US, one in Canada, one in the UK, and 14 in Mexico.
Mr. Cuaron, who is a favorite to win an Oscar for directing Roma, said he’s thrilled with Netflix’s distribution plan.
Nabbing such a prestigious filmmaker was a coup for Netflix’s film ambitions. The question now is whether the Roma experience will draw more directors to the fold — or put up fresh divisions between Netflix and Hollywood traditionalists. — Bloomberg

Malaysia’s Common Ground expands in Philippines

MALAYSIA-BASED co-working space operator Common Ground is expanding in the Philippines, with the launch of its hub at the Arthaland Century Pacific Tower in Bonifacio Global City.
Erman Akinci, co-founder of Common Ground, said what sets their co-working space apart from other providers is that they make sure that they are able to partner with more companies. They believe that through those partnerships, they can help their member-companies, big or small, further grow.
“What we realized is that a lot of our competitors they were focusing on maybe a small handful of partnerships and benefits… Businesses don’t work that way. You don’t just have one partner that going to fit or suite everybody in that whole space or across that whole network,”
Mr. Akinci said during the launch of Common Ground at Arthaland Tower last Nov. 22.
At Common Ground, they built a software that allows them to cater to multiple partners to establish their network. Through this, Mr. Akinci said their hubs in Malaysia have 20 local accounting firms, 15 law firms, three or four Human Resource (HR) companies, among others.
“It’s growing… That’s what you’re plugging into when you join Common Ground, that deep local value that’s going to help your business grow, help your business evolve, and we felt that’s way more powerful than just one partnership,” he added.
One partnership in the Philippines is with AirAsia, where members can book their flights and enjoy extra privileges like access to business lounge in airports, discounted rates, flexible change of flight schedule, among others.
Ana Lucia Aguila, Common Ground community manager, said the company is pushing for more partnerships to cater to the diverse needs of its members.
“Under one group, the community is really diverse we really are trying to cater to absolutely at the entire community,” she said.
Unlike other co-working spaces, Common Ground also holds a range of events from yoga sessions to workshops. These events are held at the 158-square meter (sq.m.) space called “grounds,” which can hold up to 100 people for corporate set ups.
“What is different about Common Ground, what sets us apart is we really think what our member companies and our member individuals really want out of that work space… They want to collaborate with each other. They want access to events from educational events all they way to business talks,” said Juhn Teo, co-founder of Common Ground.
Spanning 2,300 sq.m., the BGC co-working space also offers hot desks, fixed desks, private offices, meeting rooms, a cafe,, a lounge, pantries, call booths, WiFi, and printers.
The price range per desk ranges from P12,000 to P16,000 per month, while private offices start at P21,000 per month. Membership ranges from a month to three months.
Common Ground is also planning to open another hub at the IBP Tower in Ortigas by December, and another at 8 Rockwell in Makati City by February 2019.
By the end of 2019, the company targets to have ten Common Ground hubs in Metro Manila.
Founded in March 2017, Common Ground launched its first co-working space on Damansara Heights, Kuala Lumpur, Malaysia. Currently, the company has 13 co-working spaces in Malaysia and has around 2,000 members. Talks to open hubs in Thailand, Indonesia, and Vietnam are on-going.
Common Ground is in partnership with MVP Global Infrastructure Group (MVP Global), a private investment firm present in Malaysia, Vietnam, and the Philippines. — Vincent Mariel P. Galang

CIC acquires tech start-up

CONCEPCION INDUSTRIAL Corp. (CIC) is investing in tech start-up Teko Solutions Asia, Inc., which has core interests in the appliance service and repair business.
In a statement issued Monday, the listed refrigerator and air-conditioner manufacturer said its wholly owned subsidiary Cortex Technologies Corp. has acquired a majority stake in Teko Solutions, operating under the name teko.ph.
“This acquisition reinforces Cortex’s commitment to explore emerging technology and find ways to leverage it across the CIC’s group of companies, as well as CIC’s focus on building better lives and business,” CIC President and Chief Executive Officer Sean Byrne was quoted as saying in a statement.
Teko Solutions gives customers real-time access to service and repairs for home appliances such as air-conditioners, refrigerators, washing machines, and water heaters. The company said it manages “self-employed, qualified, and screened entrepreneur technicians,” with more than 850 certified technicians within its platform.
The customer and technician interact through Teko Solutions’ website for a seamless experience. Here the customer is asked to submit an appliance service request. The technician will then proceed with the required service at the customer’s most convenient time, according to its website.
“There’s an obvious synergy between Teko and the aftersales services offered by many of CIC’s consumer brands, such as Carrier, Condura, Midea and Toshiba as our consumers demand convenient after-sales service using mobile and web technology,” Mr. Byrne said.
“With Teko.ph’s technology and business model, this venture gives CIC an opportunity to build a nationwide aftersales network creating an appealing employment opportunity for individuals with the right skills, motivation, and entrepreneurial spirit.”
CIC’s attributable profit dropped by 10.5% to P673 million in the first nine months of 2018, on the back of flat gross revenues t P10.34 billion.
Cortex is part of the firm’s investments in technology, which is expected contribute 20-25% of revenues by 2020. CIC said it will spend P80 million to develop the unit.
Shares in CIC jumped 1.65% or 60 centavos to close at P37 each at the stock exchange on Monday. — Arra B. Francia

Successes, scandals and send-offs: 2018’s top showbiz stories


LONDON — A royal wedding with a Hollywood ending, a rapping Pulitzer first, and a send-off fit for a musical soul queen. The world of entertainment saw a spate of headline-grabbing stories this year with plenty of award-winning highs and some stumbling lows.
Award season kicked off 2018, with pop singer Bruno Mars triumphing at the Grammys while actress Frances McDormand briefly lost her newly-won Oscar at the Academy Awards.
Accolades came for Kendrick Lamar, the first rapper to win a Pulitzer prize, People magazine’s “sexiest man alive” Idris Elba, and George Clooney, named the world’s highest-paid actor, mainly thanks to the sale of his tequila company.
Bill Cosby was the first celebrity convicted of sexual abuse since the #MeToo movement began. Film producer Harvey Weinstein surrendered to New York police, and is facing charges involving alleged assaults of women, to which he has pleaded not guilty.
Netflix drama House of Cards returned without Kevin Spacey after the actor was accused of sexual misconduct. Roseanne Barr’s revived Roseanne show was quickly canceled after the actress sparked outrage by comparing a black former Obama administration official to an ape on Twitter. She apologized but said she had been misunderstood.
Rapper Kanye West made some startling comments, notably describing slavery as a choice and gave a rambling speech at the White House.
In film, mainstream racially diverse movies Black Panther and Crazy Rich Asians won over audiences and critics, while the trailer for Disney’s upcoming Lion King revival, saw a massive 224.6 million global views in its first day.
Pop singer Lady Gaga cemented her move to Hollywood in A Star Is Born, garnering Oscar speculation, while in other music news, the Spice Girls reunited — minus Victoria Beckham — and Elton John kicked off his farewell tour.
In front of global audience, Britain’s Prince Harry married American actress Meghan Markle. Pop singer Justin Bieber wed model Hailey Baldwin in a quiet ceremony.
Actors Brad Pitt and Angelina Jolie exchanged accusations in their drawn-out divorce. Singer Ariana Grande and comedian Pete Davidson got engaged but split a few months later. Ms. Grande’s ex-boyfriend Mac Miller died of an accidental overdose.
The world said goodbye to a number of stars, including Queen of Soul Aretha Franklin, physicist Stephen Hawking, actor Burt Reynolds, comicbook superhero creator Stan Lee, singer Charles Aznavour, chef Anthony Bourdain, DJ Avicii, fashion designer Hubert de Givenchy and film director Bernardo Bertolucci. — Reuters

DMCI Homes eyes 2nd project in Makati

DMCI Homes is planning to launch a second residential development in Makati City, following the success of its Brio Tower project.
“We’re looking at our property in Chino Roces Avenue as potential site of the next project,” DMCI Homes Assistant Vice President for Project Development Dennis Yap was quoted as saying in a statement.
This comes as the property unit of DMCI Holdings, Inc. began turning over residential units at its first Makati project — Brio Tower — a little over a year ahead of schedule.
DMCI Homes said it started the turnover for the first batch of unit owners at Brio Tower in late October, ahead of the committed occupancy schedule of November 2019.
Located on a 5,760-square meter lot in Guadalupe Viejo, Brio Tower is a single-tower resort-inspired development.
The 30-storey building offers 746 units have been presold, with reservation sales reaching nearly P3 billion.
Brio Tower boasts of an “Asian contemporary” architectural design, and offers an extended sky lounge, where residents can admire the cityscape. It has the Lumiventt design technology, which allows for natural flow of air and light through the Sky Patios and “breezeways.”
Among its amenities are a lap pool, kiddie pool, lounge area, jogging path, children’s playground, audio-visual room, gazebo, game room, and fitness gym.

Petron exports diesel in rare move

SINGAPORE — Top Philippine oil refiner Petron Corp. exported a diesel cargo in November in a rare move, and offered a December-loading shipment, trade sources said on Monday.
Petron sold a November-loading diesel cargo with 50 parts-per-million (ppm) sulphur for export, the first time in several years, they said.
The cargo was sold to Unipec, the trading arm of China’s state-owned refiner Sinopec, one of the sources said.
Last week, Petron also offered a 50ppm sulphur diesel cargo for loading over Dec. 17 to 19 from Bataan, the source added. It was not immediately clear if that tender has been awarded.
Petron could not be immediately reached for comment on the matter.
The Philippines is typically a net importer of diesel and it is not usual for the country to export diesel, traders said.
With Asian diesel refining margins spiking to a four-year high in mid-November, refiners in the region have been maximizing output of the oil product which is typically used in the transport, agriculture and industrial sectors.
“Refineries are running high, so they likely had extra cargoes to export,” a second source said.
Asian diesel margin subsequently plunged to below $14 a barrel to Dubai crude, its lowest in more than four months on Friday, before recovering to nearly $15 a barrel on Monday, Refinitiv Eikon data showed.
This might encourage refiners to continue to produce diesel, in turn flooding the Asian market, a Singapore-based trader said. — Reuters

Get Up, Stand Up! UNESCO declares reggae a global cultural treasure

PARIS — UNESCO has declared reggae, the Jamaican music that spread across the world with its calls for social justice, peace and love, to be a global treasure that must be safe-guarded.
Born in the poor neighborhoods of Kingston in the 1960s, reggae reflected hard times and struggle but could also be joyous dance music with its distinctive off-beat.
Its most famous songwriter and performer, the late Bob Marley, became a global superstar with hits like “No Woman, No Cry” and “Get Up, Stand Up.” Other notables include Jimmy Cliff and Toots and the Maytalls.
Artists such as the Clash incorporated its chunky beat and its politics into their own music, bringing it to a wider audience. It caught on from Britain to Brazil and Africa.
“Its contribution to international discourse on issues of injustice, resistance, love and humanity underscores the dynamics of the element as being at once cerebral, sociopolitical, sensual and spiritual,” UNESCO said in a statement.
The Paris-based UNESCO, the cultural agency of the United Nations, made its ruling at a meeting last week. — Reuters

Flexible workspace trend seen to continue in next three years

A SHIFT towards flexible workspaces by multinational companies (MNCs) is one of the trends that defined the Philippine property market in 2018, according to real estate services provider Santos Knight Frank, Inc.
During a media briefing last Nov. 23, officials of Santos Knight Frank cited a recent study showing 69% of MNCs are planning to increase their use of co-working spaces and 80% are expecting to grow the collaborative spaces they use over the next three years.
The study also showed 44% of companies said a fifth of their office space would be allocated as flexible spaces.
The Philippines currently has 110 co-working locations in Metro Manila, with each taking up 2,000 square meters (sq.m.) to 5,000 sq.m. per transaction.
The growth of these co-working spaces in the last two years was fueled by the companies’ need for flexibility.
Francis S. Gono, Santos Knight Frank director for occupier services and commercial agency, said these flexible spaces boost employee experience and learning. In return, employees are better able to deliver services to customers, which translate into improved company performance.
“It’s a workplace that fosters collaboration and growth of ideas not just delivery. So, what happens when employees get the proper workplace experience they stay… because they enjoy their work, they are happy… they learn more, and when they learn more, they are able to put the proper service at the proper time…” Mr. Gono said.
“The customer gets what he wants and the employees are happy and they stay and companies are able to deliver,” he added.
He noted workplaces are evolving right now, with companies partnering with co-working space providers to transform their offices into something where there will be more “collaboration” among employees.
“We see this as a trend and we see this as a continuing trend in the country,” Mr. Gono said.
Rick M. Santos, chairman and chief executive officer of Santos Knight Frank, noted the “sunrise idea” of co-working space is seen to further rise as other service providers, like We Work, expand in the country.
Mr. Santos said co-working companies will be account for a third of office take-up in the country in the next three to five years. — Vincent Mariel P. Galang

AEV subsidiary obtains P9-B loan for bulk water project

By Victor V. Saulon, Sub-editor
ABOITIZ EQUITY Ventures, Inc. (AEV) on Monday said it is borrowing P9 billion from several banks for its bulk water project in Davao City.
In a disclosure to the stock exchange on Monday, the listed conglomerate said subsidiary Apo Agua Infrastructura, Inc. signed an omnibus notes facility and security agreement for the P9-billion loan with a consortium of lender-banks.
The loan will be used for the Apo Agua project, a bulk water system with a capacity of treating 347 million liters of water per day, and an integrated 2.5-megawatt hydro-electric power plant.
“This is our first bulk water project. But we’re looking in quite a few,” AEV Chief Financial Officer Manuel R. Lozano said in an interview ahead of the signing of the loan agreement.
He said the Apo Agua project is now underway, with the engineering, procurement and construction (EPC) contract signed.
“Very soon, we’ll be ordering a lot of equipment,” said Mr. Lozano, who is also AEV chief information officer. “Once we signed the EPC [contract], I guess that’s the trigger.”
Aside from the bulk water project, AEV also has a stake in water distribution in San Fernando, Pampanga and in Malvar, Batangas.
“In water, [either] you’re the bulk supplier or you’re the distributor. In this particular case, we’re the source of the water. We’re delivering it to Davao City Water District, and sila ang nagdi-distribute (they distribute),” Mr. Lozano said.
“We need more bulk water projects, maybe desalination, maybe other types of ways to get clean potable water. So this is our first but we have a team that’s focused on water and they’re looking at several other projects as well. I cannot tell you for sure if it will happen in the next year or so, but definitely we’re trying. We’d like to have more,” he added.
Mr. Lozano said AEV is not focused on a specific area in the Philippines for its next water project, but the provinces and cities surrounding Davao City would be ideal.
“But the reality is we’re looking in the Visayas, we’re looking in Luzon, sa tingin ko (in my view) wherever the opportunity comes because I really think the issue is there’s demand across the Philippines,” he said.
For the Apo Agua loan facility, the consortium of lender-banks is composed of BPI Capital Corp. as mandated lead arranger and bookrunner; China Bank Capital Corp. as join lead arranger; Bank of the Philippine Island, China Banking Corp., Development Bank of the Philippines, and Bank of Commerce as initial note holders; and BPI Asset Management and Trust Corp. as trustee and notes facility agent.
AEV has partnered with JV Angeles Construction Corp. for the bulk water project as it builds expertise in the water sector.
“We’ve been doing hydro-electric projects for many years. So we have some expertise in managing the distribution of water, building the pipes. But we don’t have the construction expertise, that’s where JV Angeles comes along,” Mr. Lozano said.
On Monday, shares in AEV rose 1.34% to close at P52.90 each.

Actress Priyanka Chopra and singer Nick Jonas to marry in traditional Hindu ceremony

MUMBAI — US singer Nick Jonas and Quantico actor Priyanka Chopra were to be married in a traditional Hindu ceremony yesterday, the culmination of a three-day long wedding celebration that featured cricket matches and Bollywood songs, all taking place in a heritage Indian palace atop a hill.
The couple exchanged vows in a Christian ceremony on Saturday, wearing custom-made Ralph Lauren clothes, and later shared pictures on their social media of a pre-wedding ritual, the mehendi ceremony, which involves applying henna on the bride’s hands as a good omen.
“One of the most special things that our relationship has given us is a merging of families who love and respect each others’ faiths and cultures. And so planning our wedding with an amalgamation of both was so so amazing,” Bollywood actor Ms. Chopra wrote on her Instagram account.
The pictures showed the couple laughing and surrounded by family and friends, as an artisan applied henna on Ms. Chopra’s palms.
On Sunday, Ms. Chopra shared a picture and a two-second video of a cricket match, captioning it “team bride vs team groom #cricket.” Indian media reported that at another pre-wedding function, guests and the bride and groom danced to Bollywood songs, including some of Ms. Chopra’s biggest hits.
The couple have been tight-lipped about the details of the actual wedding, and representatives for the couple remain unreachable for comment. They are scheduled to host a reception in New Delhi on Tuesday.
The venue of the wedding, the Umaid Bhavan palace in the heritage north Indian city of Jodhpur, has been cordoned off to the public, and Indian media reported that the couple had asked guests not to carry cellphones to any of the ceremonies.
The palace is home to the Jodhpur royal family, and is believed to be the world’s sixth largest private residence. Part of the palace has been converted into a Taj heritage hotel with peacocks roaming 26 acres of landscaped gardens.
A night’s stay in the Grand Presidential suite can cost more than 500,000 rupees ($7,168), according to the hotel website.
Ms. Chopra, 36, and 26-year-old Mr. Jonas were engaged earlier this year after a whirlwind courtship that began at an Oscars after-party last year.
Ms. Chopra, who headlined three seasons of the ABC crime drama Quantico, is one of Bollywood’s biggest female leads with acting credits in several big-ticket films.
Nick and his brothers Kevin and Joe formed a pop-rock band, The Jonas Brothers, in 2005 and soared to fame as members of Disney’s stable of teenage stars. The band split up in 2013. — Reuters

Northpine’s lifestyle hubs

NORTHPINE Land, Inc. (NLI) recently opened a lifestyle complex within its Cavite residential community, and is on track to complete the lifestyle hub in its Pampanga community by 2019.
In statement, the developer said the lifestyle complex in Kohana Grove in Silang, Cavite was opened last August. The 4,000 square meter (sq.m.) complex features a multi-purpose hall, a viewing deck, a basketball court, a play area, and a swimming pool.
“The Lifestyle Complex will surely provide a more conducive avenue for the homeowners to live life in full bloom. This is yet another courageous move by NorthPine Land as we continuously design and construct lifestyle amenities that improve the quality of life,” said Ferdinand M. Macabanti, general manager of NLI, in a statement.
NorthPine is also targeting to open the lifestyle hub in Montana Views in San Fernando, Pampanga by the fourth quarter of 2019. The 4,000 sq.m. hub will have a basketball court, a fitness center, and a playground.
It will also have a WiFi equipped lifestyle center with an air-conditioned functional hall, multi-purpose area, playroom, entertainment room, and a snack bar.
“In over 20 years, NorthPine Land remains as a groundbreaker of innovations. We create lifestyle options that enhance the quality of living. This Lifestyle Hub is probably one of the best amenities NorthPine is bound to create. We are very excited to see this rise in the near future,” Mr. Macabanti said. — V.M.P.Galang

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