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Filinvest Prestige offers new village experience

FILINVEST PRESTIGE’S Brentville International Community is offering a new village experience, as it makes key upgrades to the residential community in Biñan, Laguna.

“The new Brentville design strives for a more timeless feeling for residents. Its contemporary architecture gives off a light and airy character with clean lines and neutral palette,” said Juan Seriña, principal architect of H1 Architecture and Design — the design consultant for Brentville.

“We want to give our residents a space that fosters community, while seeking for a quiet and peaceful lifestyle. This is evident in the new Village Front, clubhouse, and the many green open spaces where they could congregate with their neighbors or follow through with their workout routines,” he added.

Brentville’s new entryway is now lined with shade trees and lush landscape. The main village gates also got face-lift and new color scheme.

The Village Front’s new retail development was designed by H1 Architecture and landscaped by AECOM. Open spaces and walkable areas will be incorporated into the modern design.

Residential clusters under Brentville will include The Meridien, Sunshine Palace, West Parc and Woodmore Spring. Prominence II offers townhomes and single-detached homes, while The Arborage at Brentville offers residential properties.

The community is home to Brent International School. Existing facilities and amenities include the main pool, infinity pool, kiddie pool, basketball court, tennis court, playground, and jogging trail.

IC allows insurance firms to join SBL transactions

INSURANCE and reinsurance companies can now diversify their investment portfolio after the industry regulator okayed their participation in securities borrowing and lending (SBL) transactions.

Insurance Commissioner Dennis B. Funa said firms may gain additional returns on their investment portfolios through loans in securities that are not actively traded.

“In view of the next tranche in the increase of minimum net worth requirement for insurance companies as prescribed under the law, insurance companies may increase their yield by engaging in SBL transactions,” Mr. Funa was quoted in the statement.

Dated Sept. 4, Circular Letter No. 2019-45 contains guidelines on the transactions.

It said firms’ investments in SBL transactions should not be more than 5% of the total admitted assets for life insurance companies.

Meanwhile, for non-life and reinsurance firms, the investments should not go beyond 10% of their net worth.

Lending or the borrowing period will also have a maximum cap of two years from the date of execution of SBL confirmation notice.

SBL, as defined in the circular, refers to the lending of securities from the lender’s portfolio to support the borrower’s trading activities and will be returned on a specific date.

Under the circular, among the eligible collaterals that firms can accept in their SBL transactions are peso-denominated cash, bonds or other instruments issued by the government and its agencies including the central bank, as well as those issued by corporations or institutions and securities listed in the Philippine Stock Exchange.

Firms will also have to comply with documentation, valuation, collateral management, record-keeping and reporting requirements for the transactions.

“With the issuance of this Circular Letter, insurance companies are now given additional investment channel to diversify their investment portfolio and to actively participate in capital market development,” Mr. Funa added.

In 2014, the IC issued rules on SBL transactions but the implementation was later deferred due to issues raised on repurchase agreements. — BML

Lyceum asks city gov’t to reclassify property

DAVAO CITY — Newly-opened Lyceum of the Philippines University-Davao has asked the city government to reclassify its area into a major commercial sub-zone from a medium density residential sub-zone.

In a document it submitted to the City Council Committee on Housing and Subdivision (High-End Projects), the university, which opened in June, said it is imperative that the classification of its 166,512-square-meter area be changed as it is planning to develop the property into a mixed-use site.

Based on the proposed project, aside from the school component, the plan is to put up a residential condominium, office, a hotel, a convention center and other commercial structures.

The document said the site which will be developed by Cebu Landmasters, Inc. (CLI), will also contain a “greening project” as about a fifth of the entire area will be green spaces.

The school is within an area where the classification is medium density residential sub-zone as there are big subdivisions nearby.

The document said a traffic impact assessment is also ongoing for the proposed projects as there are also power lines and water connections in the area.

In a disclosure to the Philippine Stock Exchange in May 2018, publicly-listed CLI said it has partnered with the university to turn the area into a modern township which will be called LPU Town.

Based on the disclosure, about five hectares of the area will be devoted to the campus of the university which will have a resource center, a swimming pool, dormitories, maritime center and a football field. — C.Q. Francisco

Farmer, sailor, singer, cook: wide variety of creators catch YouTube’s eye

YOUTUBE NEXTUP, an internationally staged contest where smaller YouTube creators are given the chance to learn how to scale up their channels, has named its newest batch of winners from the Philippines and the roster includes a poultry farming channel, a men’s beauty channel, and a Philippine law tutorial channel.

The winning channels are those of indie singer Reese Lansangan; a poultry farmer from Bicol, Dwight Tamayo; cycling enthusiast Mark More; singer Charlotte F.; men’s beauty guru Kuys Kiko; that of Rea Ninja who gives job interview tips; and the law tutorial channel Lex in Motion.

Also in the winning roster are long-time celebrity Nadia Montenegro who runs a cooking channel; student and lifestyle vlogger Raya Maurelle; fitness enthusiast Aileene; maritime chief engineer Chief MAKOi; and singer-songwriter Caleb Santos.

Now on its third year in the Philippines, YouTube NextUp accepts applications from creators with at least 10,000 subscribers but less than a million. Winners will participate in a week-long Creator Camp where “they will get a crash course on production techniques and receive in-depth training to further build their channels,” said a company press release.

“NextUp continues to grow not just in the number of applicants but also in the level of diversity. Every year, we see more and more creators joining the contest from outside Manila representing various languages, topics, and passion points. This proves that anyone can make it on YouTube,” said Marc Lefkowitz, Head of Creator & Artist Development, YouTube APAC, in the statement. “We hope that this trend will continue to further signify that YouTube is truly a home for every creator.”

Previous NextUp Manila winners included singer Renee Dominique and tutorial channel Team Lyqa.

During the launch on Sept. 5 at the Marquis Events Place in Bonifacio Global City in Taguig, Mr. Lefkowitz reiterated that YouTube in the Philippines is starting to take off as the company’s numbers showed that there are currently over 750 channels with 100,000 subscribers and more than 60 channels with more than a million subscribers in the country. Last year, only about 300 channels had passed the 100,000 subscriber mark and 19 channels had more than a million subscribers.

Mr. Lefkowitz first announced these numbers in May during the YouTube Fanfest in Manila.

YouTube NextUp, which started in 2011, has been staged in Indonesia, the United Kingdom, and Mexico. Upcoming NextUps are scheduled in Brazil and Japan, among others. — Zsarlene B. Chua

Bria Homes banks on affordability, quality

BRIA HOMES is aiming to build high-quality but affordable homes in safe communities around the country.

In a statement, the mass housing unit of listed Golden Bria Holdings, Inc. said its property developments are both affordable and have superior quality.

“By ensuring that future homeowners can purchase a Bria condominium unit or a house and lot package at affordable rates — some for as low as P1,897 per month — and through flexible payment schemes such as PAG-IBIG and bank financing, Bria has won the hearts of Filipino families,” the company said.

Bria Homes has over 50 mass housing projects around the country. It offers condominiums, as well as house-and-lot packages geared towards the different needs of individuals and families.

Bria communities all have recreational amenities such as basketball courts, and have guarded entrances and perimeter fences.

Mega mergers fail to lure funds to India’s state-run bank stocks

INDIA’S BIGGEST bank overhaul in decades to merge state-run lenders beset with bad loans and low capital hasn’t convinced investors to increase holdings of the shares.

Fund managers including Aberdeen Standard Investments Ltd. and JPMorgan Chase & Co. are shying away from increasing their positions in government-owned lenders. As well as poor asset quality at the banks, they cited uncertainty about the mergers’ timeline.

A prolonged shadow-banking crisis and hurdles in bankruptcy rules have left India holding the world’s worst bad-debt pile. Seeking to spur lending needed to revive economic growth from a six-year low, Prime Minister Narendra Modi’s government said Aug. 30 that it plans to merge smaller banks to create four new lenders that would hold more than half of the Indian banking industry’s assets.

“State run banks do have a large asset-quality burden,” said Rukhshad Shroff, who oversees more than $660 million in India equities at JPMorgan Chase & Co.’s asset management unit in Hong Kong. “Many also have very little capital. There is some evidence to show that digesting large mergers ends up being more complicated than was originally expected.”

Mergers at a time when economic growth is at its slowest pace in six years “will prove distracting” to state-owned lenders, according to Kristy Fong, who helps oversee $669.6 billion globally in equities as Asian investment director at Aberdeen Standard Investments Ltd. in Singapore. There is also a “significant gap in quality between the better-run and better-capitalized private sector banks and their state-run peers,” she said.

The firm owns Kotak Mahindra Bank Ltd. among top holdings in an India-specific equity fund, according to data compiled by Bloomberg.

The NSE Nifty PSU Bank Index, comprising 12 state-owned banks, has added 1.2% since the Aug. 30 merger-plan announcement, trimming its loss from this year’s high on April 2 to 27%. The gauge slipped 0.4% Monday, set to snap a seven-day winning streak, matching a 0.4% drop in the NSE’s benchmark Nifty 50 Index.

Fitch Ratings on Sept. 11 said in a note that the proposed consolidation of state-owned banks should be positive in the long-term for the industry but it must be accompanied by adequate capitalization and governance improvements.

The long-term benefits include stronger governance, better risk management and cost efficiency, according to US-based Principal Global Investors. “Improvement in the governance structure should translate into long term-benefits on multiple fronts, including asset quality,” said Ravi Gopalakrishnan, head of equities at firm’s asset management unit in Mumbai. He still prefers private lenders given the uncertainties surrounding the mergers.

For Mumbai-based stock advisory firm Target Investing, the mergers won’t solve the problem of slowing credit growth and rising bad loans, said the firm’s founder Sameer Kalra, who has been reducing positions in government banks. — Bloomberg

PCC fines Wingtech for late filing of notice for Nexperia acquisition

THE PHILIPPINE Competition Commission (PCC) fined Huawei contract manufacturer Wingtech Technology Co. Ltd. following late notification of its acquisition of Dutch semiconductor firm Nexperia Holding B.V., the anti-trust authority said in a statement on Monday.

The Philippine Rules on Mergers Review requires companies that have business interests in the Philippines to notify the PCC within 30 days after the execution of their agreement, but the firms filed with the anti-trust body after 194 days.

“The qualified transactions are required to undergo competitive assessment given their scale or merger may be market-moving or can alter the relevant market where they operate. The PCC is mandated to conduct competitive assessment to ensure these mergers will not harm the interest of consumers,” the commission said.

PCC cleared the companies after fining them P716,150 or half of 1% of the P14.3 billion transaction.

The anti-trust body ultimately concluded that there is no lessening of competition in the smartphone industry since Wingtech holds no business operations in the Philippines and Nexperia exports the products it manufactures in the country abroad, it said.

Wingtech is a contract manufacturer for Huawei Technologies and Xiaomi Corp., while Nexperia develops, manufactures, and sells semiconductors for electronic devices and cars.

The firms have until Oct. 12 to pay the imposed fine.

PCC, the country’s anti-trust body, reviews mergers and acquisitions under the Philippine Competition Act of 2015. — Jenina P. Ibañez

Don Tim expands Tagaytay project

DON TIM Development Corporation (DTDC) started building the second cluster of low-density condominiums as part of the Alta Monte Leisure Suites North project in Tagaytay City.

In a statement, DTDC said it broke ground on Cluster B Leisure Suites North, after Leisure Suites South sold out. Both are part of DTDC’s 13-hectare flagship project Alta Monte Subdivisions, located along Magallanes Drive.

“After successfully selling out all units under its 27 buildings from Leisure Suites South, Don Tim now looks towards the progress of its new cluster, Alta Monte Leisure Suites North, with another 27 condominium buildings,” the company said.

Alta Monte Leisure Suites offers just six units in each building.

“This assures not only (residents’) comfort when it comes to their living arrangements, but it also increases their level of safety and security,” DTDC said.

Taiwan central bank seen leaving rates steady on exports

TAIPEI — Taiwan’s central bank is expected to leave its policy rate steady for the thirteenth consecutive quarter, a Reuters poll of analysts showed, amid signs the export outlook may be slowly improving despite the escalating US-China trade war.

All 15 economists polled said they expected the central bank to keep the benchmark discount rate at 1.375%, where it has stood since June 2016, when its policy board meets on Thursday.

Like other trade-reliant Asian economies, Taiwan has been hurt by slowing global demand, particularly for its hi-tech products, and the prolonged trade dispute between its two largest trading partners, which has disrupted supply chains.

But export orders for July fell less than expected as retailers began stocking up on electronic gadgets ahead of the peak year-end shopping season, and actual exports unexpectedly returned to growth in August.

Last month, Taiwan’s government bucked a global trend of growth downgrades and raised its 2019 forecast, saying more companies were moving production to the island from mainland China to avoid higher tariffs from the trade war.

That returning production has helped Taiwan stand apart from other major regional exporters such as Hong Kong and Singapore, which are facing risks of recession.

“Better-than-expected growth performance will likely allow Taiwan’s central bank to keep rates unchanged through 2019-20,” DBS economist Ma Tieying said in a note, adding that “Made-in-Taiwan” was making a comeback after two decades of investment exodus and industrial hollowing out.

Higher interest rates could also lift the Taiwan dollar, hurting its export competitiveness.

Some analysts have cautioned, however, that recent signs of improvement are linked to the release of new smartphone models, which may provide only a temporary boost to orders. — Reuters

Upcoming Concerts (09/17/19)

Frontmen at concert for a cause

FORMER FRONTMEN of bands 6Cyclemind, Moonstar88, and Rivermaya are set to take the stage on Sept. 20 in Bacoor, Cavite, for a one-night concert to raise funds to buy medical supplies for people with hemophilia and who are undergoing dialysis. Called The Band of Hope, the concert brings together on one stage Ney Dimaculangan, who was the lead vocalist and writer of 6Cyclemind until 2011; Acel Bisa, who was the lead singer of Moonstar 88 until 2004; and Jason Fernandez who was the lead vocalist of Rivermaya until 2011. Other performers include electro-pop duo Beat per Machine, the band The Pub Forties, and Fliptop rapper Rapido. The Band of Hope will be held on Sept. 20, 5 p.m., at the Strike Gymnasium at the Bacoor Government Center along Molino Ave., Bacoor, Cavite. For tickets and reservations, call 0926-734-9429 or 0961-326-3722. Ticket prices are at P350 for balcony and P450 for ground.

Rainbow in Asia Music Festival in Manila

THE FIRST Rainbow in Asia Music Festival (RAMF) will be held in Manila on Sept. 21 at the Philippine Arena, Ciudad de Victoria, Santa Maria, Bulacan. The show will feature some of the best known Korean pop groups and will be hosted by 2NE1 member and host Sandara Park and actor-host Ryan Bang. The concert will showcase award-winning girl group Mamamoo as well as Oh My Girl. Winner and AB6ix are also part of the lineup. Solo artists Park Bom, also of 2NE1, and Kriesha Chu round up the roster of performing artists. Tickets range in price from P500 to P13,000, exclusive of ticket charges, and are available at TicketWorld. More information about the tickets are available at https://www.ticketworld.com.ph.

Momoland to donate concert proceeds to charity

TO PAY BACK its enthusiastic Filipino supporters, the K-Pop group Momoland and its agency, MLD Entertainment, have announced that the proceeds from the girl group’s Good Friends in Manila concert on Oct. 5 will be donated to support their chosen beneficiaries. The children in two small barangays in Antipolo City — Barangays San Jose and Calawis — will receive donations of clothes and other necessities. The turnover is expected to take place on Oct. 25. The project is not just a one-off charity event as they plan to hold similar charity projects annually. Good Friends in Manila will be held on Oct. 5 at Smart Araneta Coliseum at the Araneta Center, Cubao, Quezon City. The concert will also feature Ha Sung Woon and Kim Jae Hwan. Tickets cost P9,500 (SVIP standing and seated), P7,000 (Patron), P5,000 (lower box), and P3,000 (upper box). Tickets are now available in all TicketNet outlets nationwide or online through www.ticketnet.com.ph

HMR set to open in Cagayan de Oro

DAVAO CITY — HMR Trading Haus is set to open a branch in Cagayan de Oro within the month, it said in a statement.

HMR, a company that sells local goods and those from Australia, Europe and the United States, will open its 29th retail outlet inside the Puregold Store in Cagayan de Oro and will offer “branded appliances, housewares, gadgets, electronics, power tools, industrial supplies, outdoor products, sporting goods, and furniture for home, office and hospitality industry needs and so much more–all at affordable prices,” it said.

“We are excited to be opening in Cagayan De Oro and we have a lot of quality items at affordable prices to offer both wholesalers and end users,” said Sharlene Carman-Powell, HMR Philippines chief executive officer.

The outlet is part of the expansion of the brand’s superstore concept in the country, it said.

“Our clients include all types of agricultural, industrial, commercial and start-up enterprises. We offer the lowest prices on office furniture ensuring minimal start-up costs for businesses on a budget,” Ms. Carman-Powell said. — C.Q. Francisco

How PSEi member stocks performed — September 16, 2019

Here’s a quick glance at how PSEi stocks fared on Monday, September 16, 2019.

 

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