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MPIC plans women’s medical center

THE hospital unit of Metro Pacific Investments Corp. (MPIC) is investing about P5-6 billion for a new medical facility specializing in women’s health care.

MPIC President and Chief Executive Officer Jose Ma. K. Lim said Makati Medical Center, which is part of Metro Pacific Hospital Holdings, Inc. (MPHHI), will be opening a women’s center beside the hospital at Ayala North Exchange.

“This is a special facility that’s dedicated or specializing in women’s ailments and diseases. This is designed by a Singaporean architectural firm,” Mr. Lim said during MPIC’s briefing for its second quarter results in Makati on Thursday.

MPIC Chief Finance Officer David J. Nicol said the project will have about 250 beds, depending on the center’s exact configuration.

MPHHI is currently conducting a tender offer to shareholders of Medical Doctors, Inc., the owner of Makati Medical Center, to increase its stake in the company to 49.9%, from its current ownership of 33.3%.

The tender offer was initially supposed to end on July 26, but the company extended the deadline until Aug. 9 following the low acceptance of shareholders.

“We don’t expect a huge acceptance. I think the net result is it won’t change very much,” Mr. Nicol said.

On the other hand, MPIC Chairman Manuel V. Pangilinan said they are also looking at building a children’s hospital in Metro Manila.

“There’s no meaningful children’s hospital in this country at all. So we’re looking at several sites to see where we can locate it,” Mr. Pangilinan said in the same briefing, saying that it will house about 300 to 500 beds.

The women’s medical center and children’s hospital will be the part of the company’s target to have 5,000 beds under its portfolio.

MPHHI currently has 14 hospitals across the country, including Cardinal Santos Medical Center, Our Lady of Lourdes Hospital, Asian Hospital, De Los Santos Medical Center, Manila Doctors Hospital, Marikina Valley Medical Center, Inc., and Dr. Jesus C. Delgado Memorial Hospital in Metro Manila.

The company also has interests in hospitals in the provinces, namely Davao Doctors Hospital, Riverside Medical Center in Bacolod, Central Luzon Doctors Hospital in Tarlac, West Metro Medical Center in Zamboanga, Sacred Heart Hospital of Malolos, Inc. in Bulacan and St. Elizabeth Hospital, Inc. in General Santos City.

The company is currently preparing for an initial public offering by the end of this year or early next year, earlier saying it might raise between P15-20 billion to finance its expansion and acquisition of other hospitals. — Arra B. Francia

Fed cuts interest rates, signals it may not need to do more

WASHINGTON — The Federal Reserve cut interest rates on Wednesday, but the head of the US central bank said the move might not be the start of a lengthy campaign to shore up the economy against risks including global weakness.

Fed Chairman Jerome Powell cited signs of a global slowdown, simmering US trade tensions and a desire to boost too-low inflation in explaining the central bank’s decision to lower borrowing costs for the first time since 2008 and move up plans to stop winnowing its massive bond holdings.

“Let me be clear — it’s not the beginning of a long series of rate cuts,” Powell said in a news conference after the Fed released its latest policy statement. At the same time, he said, “I didn’t say it’s just one rate cut.”

Financial markets had widely expected the Fed to reduce its key overnight lending rate by a quarter of a percentage point to a target range of 2.00% to 2.25%, but many traders expected clearer confirmation of forthcoming rate cuts.

US President Donald Trump, who has repeatedly attacked the Fed’s policy stance under Powell and demanded that it push through big rate cuts, said on Twitter the Fed chief “let us down” by not telegraphing that an aggressive easing was coming.

US stock prices fell during Powell’s news conference. The benchmark S&P 500 index closed down 1.1% for the day. Yields on 2-year notes, a proxy for Fed policy rates, rose to 1.87%.

Ken Polcari, managing principal at Butcher Joseph Asset Management, said Powell’s message was “not what the market was expecting to hear” even though most traders expected a rate cut. “He is not shutting the door, but he is also not saying there is another one coming in September, so hold on,” Polcari said.

Heading into Wednesday’s Fed decision, the S&P 500 was up about 3% since June 19, when the Fed first signaled a rate cut was likely as it pledged then to “act as appropriate to sustain” the record-long US expansion.

In a statement at the end of a two-day policy meeting, the Fed said it decided to cut rates “in light of the implications of global developments for the economic outlook as well as muted inflation pressures.” It said it will “continue to monitor” how incoming information affects the economy and that it will “act as appropriate to sustain” the expansion.

“It’s smart of them to go ahead and take out some insurance here. It’s better than none at all,” said Brett Ewing, chief market strategist at First Franklin Financial Services in Tallahassee, Florida.

The US dollar index gained ground to touch its highest in more than two years. The index, which measures the greenback against a basket of currencies, was up about 0.5% on the day.

TWO ‘NO’ VOTES
The Fed’s policy decision drew dissents from Boston Fed President Eric Rosengren and Kansas City Fed President Esther George who argued for leaving rates unchanged.

“This is the most dissent we’ve had in the current Fed; we had two hawkish dissenters on this decision,” said Eric Donovan, managing director of over-the-counter foreign exchange and interest rates at INTL FCStone.

Rosengren and George have raised doubts about a rate cut in the face of the current expansion, an unemployment rate that is near a 50-year-low, and robust household spending.

On the opposite flank was Trump.

“What the Market wanted to hear from Jay Powell and the Federal Reserve was that this was the beginning of a lengthy and aggressive rate-cutting cycle which would keep pace with China, The European Union and other countries around the world,” Trump said after the Fed decision. “As usual, Powell let us down.”

Powell and other Fed officials in recent weeks have walked a middle ground, flagging risks like continued uncertainty on the global trade front, low inflation and a weakening world economy, but repeating the view the United States is fundamentally in a good spot.

The Fed said in its statement it continued to regard the labor market as “strong” and added that household spending had “picked up.” But it noted business spending was “soft” and that measures of inflation compensation remain low.

The Fed said the rate cut should help return inflation to its 2% target but that uncertainties about that outlook remain. Sustained expansion of economic activity and a strong labor market are also the most likely outcomes, the Fed said.

Several banks, including JPMorgan Chase & Co. and Citigroup Inc., announced plans to lower their rates used as a benchmark for a wide range of consumer and commercial loans after the Fed decision. That will translate into lower interest rates on a wide range of loans and could drag on bank earnings in the coming quarters.

Underscoring its decision to ease policy across the board, the Fed also said it would stop shrinking its $3.6 trillion in bond holdings starting Aug. 1, two months ahead of schedule. The Fed bought most of the bonds after the 2008 global financial crisis to stimulate a sluggish economy but in more recent months has been letting some of them expire without replacing them.

Trump celebrated that move, saying, “at least he is ending quantitative tightening,” a term for the bond-trimming policy that the Republican president said should not have started given tame inflation.

“Ending the quantitative tightening right here was also a good call,” First Franklin’s Ewing said. — Reuters

Pag-IBIG collects P30B in home loan payments

THE HOME Development Mutual Fund (Pag-IBIG Fund) reported home loan payments rose 12% to a record-high P30.44 billion in the first six months of 2019.

“We were able to sustain our momentum from 2018, which is our best year yet. In the first half of 2019, home loan payments averaged P5.07 billion per month which is considerably higher than the P4.53 billion average last year,” Eduardo D. del Rosario, who heads both the Housing and Urban Development Coordinating Council (HUDCC) and Pag-IBIG Fund Board of Trustees, said in a statement.

Mr. del Rosario noted that the Pag-IBIG Fund got off to a good start this year, when home loan payments reached P5.4 billion in January and hit P5.99 billion in May.

“Robust collections reinforce Pag-IBIG Fund’s financial sustainability. The amount we collected are then plowed back to our housing portfolio so that more members can avail of a home loan from Pag-IBIG Fund,” he added.

Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti said the improved collection efficiency allowed the agency to hit a record high performing loans ratio (PLR).

As of June, Pag-IBIG Fund’s PLR stood at 90.60%, the highest it ever recorded. Mr. Moti noted this shows nine out of 10 of its home loan borrowers regularly pay their monthly amortization.

In 2012, the fund’s PLR was at 75%. The fund’s PLR reached 90% for the first time in 2017, then hit 90.23% in 2018.

“Our portfolio is unique in the sense that we cater to minimum wage earners who are usually unserved by most lending institutions because of their financial situation. Despite this, we are happy to report that our efforts to maintain efficiency of collections enabled us to keep our performing loans ratio at above 90 percent,” Mr. Moti said.

Cisco whistleblower gets first False Claims payout over cybersecurity

SAN FRANCISCO — Cisco Systems Inc has agreed to settle a whistleblower’s claim that it improperly sold video surveillance software with known vulnerabilities to US federal and state governments, marking the first payout on a False Claims Act case brought over failure to meet cybersecurity standards.

The settlement and underlying claim were unsealed on Wednesday, eight years after the initial legal complaint. Cisco paid $8.6 million to resolve the case, with most of that going to the federal government and 15 state buyers and more than $1 million going to the whistleblower, James Glenn.

“We are pleased to have resolved a 2011 dispute involving the architecture of a video security technology product,” said Cisco spokeswoman Robyn Blum. “There was no allegation or evidence that any unauthorized access to customers’ video occurred as a result of the architecture.”

Glenn attorney Anne Hayes Hartman and other experts believe Cisco’s payout is the first in a false claims cyber case.

Many more whistleblower claims could ensue, experts said. The settlement “clearly provides an opportunity for entrepreneurial plaintiffs or potential plaintiffs to go around looking for more examples like this,” said Georgetown University law professor Gregory Klass.

Hundreds of false-claim suits are filed yearly, in part because of built-in rewards for those who point out improper conduct by government contractors. Under the law, a whistleblower must provide non-public information in order to win an award.

With many contracts including pledges that products meet cyber security standards set by the government, experts have long warned that the claims could expand into that area and punish vendors for the vulnerabilities that are present in many systems.

Cisco’s Video Surveillance Manager was used by Los Angeles International Airport, the Washington DC police and the New York City public transit system, as well as many schools, said Hartman.

The complaint unsealed Wednesday also names as customers the US Army, Navy, Air Force, and Marine Corps.

Glenn was working at a Cisco partner in Denmark called NetDesign, the complaint says, among other things working with Danish police. In 2008, he warned Cisco that a hacker who got into one camera that was part of the system could use flaws in the software to get administrative control of the entire network. The suit says a hacker could then potentially move beyond the video system.

“Due to the vulnerability in Cisco’s surveillance system, any user who has or can gain access to one video camera could potentially gain unauthorized access to the entire network of a federal agency,” the suit says.

When Cisco failed to act, Glenn spoke with an LA airport police detective on an FBI terrorism task force.

The company acknowledged the flaws in 2013 as it released an updated version of the software.

“There’s this culture that tends to prioritize profit and reputation over doing what’s right,” Glenn said in a written statement. “I hope coming forward with my experience causes others in the tech community to think about their ethical mandate.” — Reuters

IMI earnings plunge in April-June

AYALA-LED Integrated Micro-Electronics, Inc. (IMI) saw its attributable profit plunge 79% in the second quarter of 2019, weighed down by the lower demand for its new programs amid additional investments.

In a disclosure to the stock exchange on Thursday, the listed electronics firm posted a net income attributable to the parent of $5.45 million from April to June, lower than the $26.02 million it earned in the same period a year ago. Revenues also slipped 8.8% to $312.65 million.

This brought attributable profit for the first half to $5.78 million 82% lower year on year, after a 49% decline in revenues to $342.99 million.

The company attributed the decline to the slowdown of the global economy, a downturn in the automotive market, and geopolitical issues hounding key markets in China and the United Kingdom.

“Unfortunately, political and economic market factors are currently holding back the revenue growth, while also affecting the profitability of the company,” IMI President and Chief Operating Officer Gilles Bernard said in a statement.

IMI was further impacted by the depreciation of the Euro against the US dollar, affecting its operations in Bulgaria and Czech Republic.

Shares in IMI lost 3.16% or 30 centavos to close at P9.20 each at the stock exchange on Thursday. — Arra B. Francia

Out of Africa

The Lookout
Directed by Afi Africa
Aug. 10
Cine Adarna, UP Film Center,
UP Diliman, QC

AFI AFRICA’s The Lookout first appeared in last year’s Cinemalaya Festival, to less than stellar notices. You can hardly blame the skeptics: the script features largely unsympathetic characters, a complex plot told nonlinear fashion, a generous (or — depending on how you feel about such things — excessive) dose of langorously lingered-upon sex.

The film is flawed to put it mildly; the question one might ask instead is: Is anything here worth noting? Anything that might have been done different, maybe lessons that could be learned for next time?

Africa presumably wanted a noirish sensual feel and largely succeeded: with cinematographer Marvin Reyes, production designer Arthur Maningas, and art director Jay Anthony Gochingco he creates a look of dark hedonism, of plainspoken concrete boxes flooded with garish lights — deep reds and electric blues — where one can indulge in a fantasy of excess, or a nightmare of violence.

Africa was apparently not content; to the look he added a plot filled with hidden identities and twisted conspiracies, betrayals and double agents and siblings separated since childhood. To that he added a style of storytelling that withheld as much information as possible, to be doled out sparingly — sometimes in flashback — mentioned in passing, or implied somewhere in the dialogue.

Topping the heap like a sprinkle of 24k gold leaf is the theme of corruption of laws and morals resulting in wholesale murder: the government complicit in criminal activity, the innocent slaughtered in a series of extrajudicial killings. Arguably the single most affecting image is of a mother mourning her bloodied child Pieta-fashion, possibly inspired by one of several famous photos that capture Duterte’s costly drug war.

Affecting, yes. But the image only tangentially touches on the plot, and Africa doesn’t really build on the pity aroused or stoke any outrage at the dysfunctional society we live in. We experience the shock of recognition, we move on; the moment is soon forgotten.

The film is an assassination thriller, a crime noir, an erotic bacchanal, a queer love story. Too much? Yes and no; the production has the budget of the usual independent digital film, and Africa cleverly leverages what money he has to give the film a look. Arguably though to properly carry off the kind of narrative and visual excess he was aiming for he needed more money and resources, a more extravagant production design with more outrageous sets. You might call what he ended up with minimalist excess, or a sense of excess on a tight budget.

Or he might have pared his production down some, in terms of story, or subplot, or stylization. Saying that, the sympathetic viewer — if any — may instinctively rebel: “Why not have it all? Why not, on your debut film, execute a triple gainer, stick the landing, win the applause of all — or jeers from those who fail to understand?”

One can look to other filmmakers who triumph — Rainer Werner Fassbinder, for one, created lush eroticized films on a low budget. The man was fearless; in adapting Effie Briest and Querelle he simply slapped page after page of text on the screen; the latter production he shot completely in sets, under lurid honeyed lighting. For World on a Wire he suggested the artificial nature of a virtual world by shooting mirror reflections, video screens, dappled metal surfaces, glass transparencies — he had no money for special effects so he improvised brilliantly from what he had (basically 1970s Paris and the disco ball).

Fassbinder played fast and loose with narrative coherence and historical truth; he was however more careful about emotional truth. No matter how shapeless the script may be, the interaction between actors — even when stylized — retained some kind of baseline realism. Africa does attempt to get inside the heads of his assassin protagonist and lover — outré dialogue sadomasochism and all — but the result feels less than satisfying, more like a sketched-in affair that leaps arbitrarily in status from purchased prostitute to object of obsession to loved-hated Judas. If Africa had focused more on relationships than gangster machinations — who knows?

Then there’s Seijun Suzuki. Stylist nonpareil who doesn’t give a fuck about narrative, or so it seems. Suzuki is both inspiration and bad influence to neophyte filmmakers; watching his works you think: anything is possible, just throw enough color and craziness on the screen.

Not really. Suzuki didn’t pull that style whole out of a hat; he developed it over years. In an early film like Take Aim at the Police Van (1960 — from the title alone you can guess the genre) he’s already flagrantly digressing with long conversations at a bar, and over a toy popgun. A gunman sticks the gum he’s chewing on one end of a sniperscope; the same gunman is foiled moments later when a quickthinking girl slaps off the overhead light; a stripper staggers out of her room, an arrow sprouting from her naked left breast; a truck careens out of control, trailing a stream of flaming gasoline.

Suzuki is visibly more interested in outlandish gestures than in the humdrum plot (something to do with sex trafficking) but he doesn’t ignore said plot or the audience trying to follow; if anything he’s possibly more conscious than the average filmmaker. If the film were simply about story it would follow the narrative on autopilot, but because Suzuki keeps taking off in all kinds of directions he needs to keep a vigilant eye on the thread of narrative; he needs in effect to know where the runway is in case of an emergency landing.

Suzuki started from a relatively sober perspective, and later developed the confidence to run truly amuck with films like Branded to Kil, Pistol Opera, Zigeunerweisen. It helps, I submit, that despite Suzuki’s flaunting of conventional storytelling he doesn’t write the script alone; he usually has one to two other writers working with him, presumably as a check on his wildest instincts, a guarantee he doesn’t leave his viewers too far behind.

Africa, in writing and directing his debut, could perhaps have used a co-writer, a sounding board for his ideas; could have pared down the elements and focused on the romance, done a Brokeback Mountain with guns instead of horses (or likewise dropped the romance for intricate assassination scenarios, an In Bruges set in Manila). There’s no doubt the man is talented, no doubt he has substantial things to say. One hopes he can clear his head and map out a strategy for his next outing, something even crazier but more coherent, if that at all makes sense.

Singapore Life looks to start PHL operations by 2020

WWW.FACEBOOK.COM/SINGAPORELIFECO

SINGAPORE LIFE will be ready to operate in the Philippines next year and is looking to offer “fairly priced” services.

“Singapore Life has decided to expand its operations in South East Asia. The Philippines was selected as one of two priority countries, predominantly because of its high growth potential and internet penetration,” Singapore Life Philippines CEO Rien Hermans said in a statement on Thursday.

“All in all we are targeting to be ready by year-end to start launching our products to the market at the start of 2020,” Mr. Hermans added.

The CEO said they already registered with the Securities and Exchange Commission (SEC) and is currently applying for a life insurance license with the Insurance Commission.

The new player’s entry was confirmed by Insurance Commission (IC) Chief Dennis B. Funa, saying the company’s application will be processed soon.

“I already had talks with Rien Hermans of Singapore Life. I can only say that their application will be under process in the coming weeks, Mr. Funa said in a phone message late Wednesday night.

Mr. Hermans said the company will comply with the required P1 billion capital for life insurers but did not disclose the exact amount of its investment in the country.

“Of course we will comply with the required capital investment of P1 billion and additionally, we are ready to invest the needed funds to set up and run the business in its starting phase,” he said.

According to Mr. Hermans, using digital front-end systems, cloud-based systems and API platforms in their operations will mean lower administration costs and ensure fair pricing of the company’s services.

He added that Singapore Life has already partnered with Grab which will help it “stay mobile.”

“Grab is helping us to stay mobile and mobile banking became a dominant way to interact with banks. Apart from competitive pricing, the service delivery has been key to the success of these companies and it is time for the insurance industry to follow,” he said. — BML

Ryanair tells staff it has 900 more pilots and crew than needed

DUBLIN — Ryanair has 500 more pilots and 400 more cabin crew than needed, and job losses will be announced in the coming weeks, Chief Executive Michael O’Leary told staff in a video message.

The comments come less than two years after Europe’s biggest budget airline was forced to cancel hundreds of flights, due in part to a shortage of pilots.

However, the Irish company had flagged job losses on Monday when it reported a sharp fall in profits, and said earlier this month it was halving growth plans for next year due to delays in deliveries of Boeing’s (BA.N) grounded 737 MAX jet.

“We hope to preserve as many jobs as we can, but we have to respond now and we have to respond quickly to the MAX aircraft delivery delays and to the threat of a no-deal Brexit at the end of October,” O’Leary said in the video posted after Monday’s results.

He added job cuts would take place at around the end of September and again after Christmas.

Ryanair pilots in Britain and Ireland are holding a ballot over potential industrial action and some union officials, who declined to be identified, said O’Leary was trying to deter them from voting to strike.

They said a hiring agency that worked with Ryanair was still advertising for flight staff and earlier this month the airline had launched a new pilot training program in central Europe. — Reuters

PXP Energy trims losses in 1st half

PXP Energy Corp. posted a P7.6-million consolidated net loss attributable to equity holders of the parent firm during the first six months of 2019, trimming the P20.1-million losses posted in the same period last year.

Reported consolidated net loss was also cut to P17.9 million from P32.8 million “due to reduction in oil production costs, lower depletion rate, and higher other income (charges), partially offset by lower petroleum revenues,” it told the stock exchange.

PXP Energy, an upstream oil and gas company, has yet to disclose its financial figures specific to the second quarter.

During the first half, its consolidated petroleum revenues fell by 22.9% to P51.4 million from P66.7 million a year ago “resulting from a 13.6% drop in crude oil price in Service Contract (SC) 14C-1 Galoc, and the plug and abandonment (P&A) of SC 14A Nido and SC 14B Matinloc production wells.”

The company directly and indirectly owns oil and gas exploration and production assets in the Philippines, and indirectly owns an exploration asset in offshore Peru.

PXP Energy cut its cost and expenses by 22% to P86.2 million brought about by lower depletion cost in SC 14C-1 Galoc and the cessation of operational costs in SC 14A Nido and SC 14B Matinloc.

“Group general and administrative expenses higher due to depreciation charges from Right-to-Use asset,” PXP Energy said.

Among the highlights of the reporting period is the payment on Feb. 11 by Philex Mining Corp. of an additional P1.386 billion in connection with PXP Energy’s announcement in Oct. 26, 2018 of the signing and execution of a definitive subscription agreement.

The mining company subscribed to 260,000,000 common shares at P11.85 per share for P3.081 billion. With the payment, Philex Mining’s total paid subscription increased from P770.25 million to P2.156 billion, representing 70% of its total subscription in PXP Energy.

PXP Energy also said on Thursday that through Forum Energy Ltd., a 78.98% owned subsidiary, it would take guidance from the Philippine government on any future activity in SC 72 and SC 75.

The company said it was “mindful that the Malampaya gas resource, which supplies about 40% of Luzon’s power requirements, could be exhausted within the next decade.”

“In that light, resumption of exploration in SC 72 is of national interest…. [PXP Energy] therefore, remains hopeful that the force majeure imposed on SC 72 and SC 75 will be lifted by the Department of Energy soon for [it] to be able to resume exploration works in these SCs (service contracts),” it said.

On March 2, 2015, the Energy department placed SC 72 under force majeure because the contract area falls within the seas that was the subject of the arbitration process at that time.

Earlier this week, PXP Energy Chairman Manuel V. Pangilinan said he had not heard any advice from the government on the lifting of the moratorium.

“No words from the government. No words from CNOOC,” he said, referring to China National Offshore Oil Corp., the Chinese state firm with which PXP Energy had initial talks with for a joint exploration.

On Thursday, PXP Energy shares traded higher by 3.35% to close at P10.48 each. — Victor V. Saulon

Your Weekend Guide (August 2, 2019)

EIGASAI x Cinemalaya

IN celebration of the 22nd Japanese Film Festival or EIGASAI, The Japan Foundation Manila, together with the Cultural Center of the Philippines (CCP) is bringing the Japanese independent film, Lying to Mom, to Manila on Aug. 3, 6:15 p.m., at the CCP Little Theater. Lying to Mom is a drama mixed with humor depicting a family attempting to recover from sorrow. The screening will be followed by a Director’s Talk and Q&A session.

This year’s Cinemalaya Independent Film Festival, will be held on Aug. 2 to 11 at various venues within the Cultural Center of the Philippines complex, and on Aug. 7 to 13 at selected Ayala Malls and Vista Malls.

Ebe Dancel live at Shangri-La Plaza

EBE DANCEL

EBE Dancel kicks off performances at Shangri-La Plaza this month on Aug. 3, 7 p.m., at the mall’s Grand Atrium. The former Sugarfree frontman is well-known for the band’s hit songs like “Mariposa,” “Prom,” and “Wag Ka Nang Umiyak.” Dancel has also released two successful solo albums: Dalawang Mukha ng Pag-ibig and Bawat Daan.

Ang Huling El Bimbo

FULL HOUSE Theater Company returns with the final run of Ang Huling El Bimbo, a musical featuring the songs of the Eraserheads, until Aug. 15 at the Newport Performing Arts Theater, Resorts World Manila, Pasay City. The musical tells a story of friends who reunite after 20 years and look back on the things that brought them together and kept them apart. For tickets and schedules, visit TicketWorld (www.ticketworld.com.ph, 891-9999).

Rak of Aegis returns

THE hit Pinoy jukebox musical Rak of Aegis returns to the PETA Theater Center, with ongoing performances until Sept. 29. The show brings the songs of the Aegis band such as “Halik,” “Sinta,” and “Basang-Basa sa Ulan,” to tell the tale of a perennially flooded barangay. This latest production features a mix of original cast members including Aicelle Santos and Kim Molina, Isay Alvarez-Seña and Sweet Plantado-Tiongson, Robert Seña and Renz Verano, and Kakai Bautista and Neomi Gonzales. Tickets are available through TicketWorld (www.ticketworld.com.ph, 891-9999).

PHL film history exhibit at CCP

THE Cultural Center of the Philippines (CCP) presents an extensive exhibit on Philippine film history that will open on Aug. 3, 3:30 p.m., at the CCP Bulwagang Juan Luna (Main Gallery). Titled Scenes Reclaimed: CCP 50 x Cinemalaya 15, the exhibit traces the historical participation of CCP in the development of Philippine cinema across its first 50 years of service, culminating in its establishment of the first nationwide independent film festival, Cinemalaya, currently also celebrating its 15th anniversary. The exhibit includes artworks, artifacts, photos, and videos representing crucial moments and issues throughout the history of the Philippine film in the context of the CCP. It is on view until Sept. 24.

Happy Hallyu Day 3 this weekend

IT WILL be an all Korean pop culture day on Aug. 4 with Happy Hallyu Day 3 at Skydome, SM North EDSA, Quezon City. Several K-Pop fanclubs will be participating, with booth activities and fan made/official merchandises. CNA Philippines will provide top Korean beauty, culture, and K-Pop needs. The Asianovela Channel will have a special activity booth featuring GIF photos and a dubbing contest. FanLive will be giving away Noir Meet & Live Tour 2019 “The Ninth” passes for some lucky attendees. There will be tips on learning Korean, and tips on how to make the most out of a Korea trip. There will also be performances from Mykee, Bright, Kaiju X , Ken DG, PHP, and SB19.

Job interviews should also focus on retention

Soon after we selected some new employees put them through orientation, we unexpectedly received their resignations, while some of them were no-shows on the second day. It’s very disappointing to realize that the time, money and effort that we put into the recruitment process went to waste. What’s wrong with our hiring procedure? — Without a Clue.

When he was 88 years old, the late American Supreme Court Justice Oliver Wendell Holmes once found himself on a train. When the conductor came by, Justice Holmes couldn’t find his ticket, and he was terribly upset. He searched all of his pockets and fumbled through his wallet without success. The conductor was sympathetic. He said:

“Don’t worry, Mr. Holmes, the Pennsylvania Railroad Company will be happy to trust you. After you reach your destination, you’ll probably find the ticket and you can just mail a copy to us.”

But the conductor’s kindness failed to put Mr. Holmes at ease. Still very much upset, he said: “My dear friend, my problem is not about the loss of my ticket, but to find out where I’m going!”

One of the major difficulties facing anyone in Human Resources and those in line management is the disappointment when newly-hired employees back out after only a few days or weeks. Your company seems to be in deeper trouble as many of your new hires disappear after the first day of onboarding.

If you have not yet discovered the reason, then I should tell you what’s missing. Just like Justice Holmes, you may have failed to understand where you’re going in both the short-term and the long-term. Many of our hiring managers are more focused on testing the knowledge, skills and habits of job applicants in performing the tasks in the workplace.

Many recruitment managers and requisitioning people managers fail to recognize the need to explain to job applicants what’s in store for them should they accept the job. And I’m not even talking of the pay and perks package. There is more to it than that. So what are they? Let me list down a few of the applicants’ “other” expectations from their prospective boss and the organization, in general.

Shortly before making a job offer, ask the following questions to the applicants to determine the future of your work relations:

One, what do you expect your boss to do to help you succeed in this job? This is important because there are people out there who need (or want) close supervision while others want almost complete freedom in performing their tasks. Some would want management to respect their opinion on anything, which may not necessarily mean accepting them all. So which one fits the management style of the prospective boss and the whole organization?

Two, what are the things that could possibly irritate you in a work relationship? The answers to this question could include almost anything, from management ignoring insignificant issues that are very important to the employees. Sometimes, new employees may find new solutions to old problems but management would not hear of it because it may compromise the integrity of the boss who implemented it a long time ago.

Three, do you have any future plans or issues that would affect your performance? You may not know it. Therefore, it’s best to ask this question as well. A job applicant may be planning to migrate to another country, pursue higher education, join a family in the province or start a business. Of course, sincere answers may be difficult to secure, but somehow, you will get the opportunity to read the applicant’s body language, should this question be raised.

Four, would you be willing to perform overtime work without pay at times? This question is typical in a Japanese corporation where employees, even managers are constrained to work beyond office hours if their Japanese bosses are still around. They call it service overtime work, which is part of the Japanese organizational culture. So, when it comes to Japanese management, it is best to ask this question to find out if there’s a general fit.

Five, how long should you stay in a company without a promotion? This is a tricky question that might best verified when you review the applicant’s CV. However, chances are there are applicants who will reveal their intentions by saying they would be happy to receive a promotion in three years’ time, when they’ve in their current job for 10 years without a promotion.

Six, what would you do if your boss insults you in front of others? This reminds me of a friend who, unmindful of their co-workers and guests around him, suddenly and without provocation insulted an employee about her looks. This is a wicked reflection of the prospective boss’s management style. Sure, there are bosses like that who, for some reason, may forgot to act appropriately and professionally at all times.

Last, describe your model boss in terms of “consistency” and “flexibility.” The answer may be too obvious to some people, but somehow, applicants would want to know how their prospective boss handles situations with various people. At the same time, this does not mean having a rock-solid management policy that can’t be adjusted in case of extra-ordinary circumstances.

These questions are by no means complete. You can devise your own list by keeping tabs of the most common reasons why employees leave and use them to test the patience or perseverance of the company’s potential hires. To arrive at more questions like these, review the results of exit interviews with your former employees and incorporate them into your job interview questions.

ELBONOMICS: Fire your job applicants long before they accept a job offer.

 

Send anonymous questions to elbonomics@gmail.com or via https://reyelbo.consulting

Stimulating Fil-Am trade and tourism

ANAHEIM, CALIFORNIA — Bacolod City’s award-winning MassKara Dance Troupe has invaded the happiest place on earth — Disneyland Resort — which had just opened its newest themed area known as Star Wars: Galaxy’s Edge. Yesterday, the MassKara dancers performed at the Disney California Adventure theme park here in Anaheim, the most populous city in Orange County just south of Los Angeles.

Fresh from garnering the “Best Foreign Group” award during the 2019 Daegu Festival in South Korea last May, these acrobatic dancers will highlight the 2nd MassKara Festival at Long Beach City in LA County on Aug. 2-4. Their stints include the gala ball tonight at Long Beach Marriott Hotel and the main festival this weekend at the LB Recreation Park, both organized by the Long Beach-Bacolod Association (LBBA).

The MassKara dancers also had performances in the Bay Area last week as special guests of the Rotary Club of Daly City, Saint James Catholic Parish, and San Francisco Filipino Cultural Center (SFFCC) at Mission District. It may be noted that San Francisco’s city council recently approved the creation of a new cultural heritage district called SOMA Pilipinas, consisting of 10 city blocks with a combined area larger than San Francisco’s Chinatown.

SFFCC President Dr. Richard Kempis and Chief of Staff Teresa Dulalas said their organization is volunteer-driven, but they are in close coordination with the Department of Tourism and the National Commission for Culture and the Arts.

According to them, SOMA (short for South of Market) Pilipinas rose from the ashes of the defunct Manilatown where thousands of Filipino-Americans stayed beginning in the decade of the 1910s up to the time it was razed to the ground by a fire in 1997. The State of California has likewise officially recognized SOMA Pilipinas as one of 14 cultural districts in the state, thanks to the leadership of the Filipino-American Development Foundation.

Cultural festivals provide an excellent venue to promote Filipino products and foster trade with Americans, as exemplified by two Pinoy fiestas that are happening simultaneously on Aug. 10-11. These are the “Fiesta in America” at Secaucus Meadowlands Expo Center in New Jersey as well as the “Pistahan Parade and Festival” at Yerba Buena Gardens in downtown San Francisco. These annual events always draw the largest number of Filipino-American attendees in the East Coast and the West Coast, respectively,

LBBA President Peter Ramirez aims to replicate the success of last year’s 1st MassKara Festival at Long Beach with additional sponsors and a bigger attendance this time around. He also hopes to make MassKara the Southern California counterpart of Northern California’s Pistahan in terms of the variety and quality of exhibitors and entertainers.

With the revival of sister-city ties between Bacolod and Long Beach, opportunities to develop business partnerships have increased among the constituents of both cities. For instance, a homegrown chain of chicken inasal restaurants is planning to establish branches in California either through franchising or joint ventures with US partners.

Last year, LBBA sent a delegation to the original MassKara Festival in Bacolod and will do so again this October for the 40th edition of the world-famous festival, which was first held in 1980 under the administration of then Mayor Jose Montalvo, Jr.

Incumbent Mayor Evelio Leonardia was the city’s tourism officer in the early years of the MassKara, and he was instrumental in establishing sister-city relations with Long Beach. During his most recent terms of office, he has been sending trade and tourism missions to the US headed by City Administrator John Orola and former Councilor Em Legaspi-Ang to promote Bacolod as an investment destination among the large Fil-Am communities of the West Coast.

Other local government units (LGU) in the country should learn from the experience of Bacolod City’s LGU in leveraging its cultural assets to attract investors and further expand its economy.

 

J. Albert Gamboa is CFO of the Asian Center for Legal Excellence and Chairman of the FINEX Golden Jubilee Book Project.