You can win the world’s biggest jackpot from the Philippines

September 17, 2019 | 10:04 am

If you wondered what’s the biggest lottery jackpot in the world today, there would be two answers. The American Mega Millions lottery offers a $192 million jackpot while the leading lottery in Europe, EuroMillions, offers a €173 million top prize. Depending on how you do your currency conversions, these two huge jackpots are nearly the exact same prize.

Amazingly, you don’t need to travel to America to play Mega Millions and there’s no need for you to get on a plane to Europe to play EuroMillions. It’s possible to play both of these lotteries, with official lottery tickets, without leaving your home in the Philippines.

Here’s how to play from the Philippines:

Sign up at theLotter.com, the world’s leading online lottery ticket purchasing service.
Select either Mega Millions, or EuroMillions, or even both of them from over 50 lotteries available on the site.
Fill out your tickets with your favorite numbers, or use a computer-generated random selection.
Indicate how many lines you want to play, or choose to play with a lottery syndicate to increase your chances of winning.
Confirm your ticket purchase and you’re eligible to win prizes in the upcoming draw.

How theLotter works

As a lottery ticket messenger service, theLotter uses local agents in America to buy official Mega Millions and local agents in Europe to purchase EuroMillions lottery tickets on behalf of its customers from all over the world. A small surcharge is added to ticket prices in order to cover the cost of this service.

Tickets are scanned and uploaded to a customer’s account before the draw. With these scanned versions of the tickets and email confirmation, customers can rest assured that they have full ownership of their tickets. TheLotter provides a dedicated support team, available 24/7, to help customers with any concerns.

What happens when you win?

When you win a lottery jackpot prize at theLotter, the entire amount is yours! No commissions are deducted from winning tickets. Winnings are transferred to your secure, private account and you can withdraw them at any time.
Over the years, theLotter has paid out more than $95 million in prizes to over 5 million winners from across the globe. The biggest winners include a woman from Panama who won $30 million playing the Florida Lotto and a man from Iraq who won a $6.4 million Oregon Megabucks jackpot.

The Mega Millions and EuroMillions jackpots could be won at any time and the next draw is coming up soon. It is totally possible for the next big lottery prize winner to be a resident of the Philippines!

For more information on how to play lotteries online from the Philippines, visit theLotter.com.

EDITOR’S NOTE:

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POGOs now top property demand driver

September 17, 2019 | 12:33 am

PHILIPPINE Offshore Gaming Operators (POGOs) have displaced the information technology-business process management (IT-BPM) sector as the single biggest source of demand for office space in the country, real estate service firm Leechiu Property Consultants (LPC) reported on Monday.

LPC noted that POGOs have accounted for 375,000 sq.m., or 38%, of total Metro Manila office space take-up of 990,000 sq.m. year-to-date, as “[t]he Philippine offshore gaming industry surged ahead of the IT-BPM sector for the first time as the country’s top demand driver for office space…”

“They did not stop negotiating for more office space despite China’s crackdown,” LPC President David Leechiu said in a press briefing in Makati City.

The Department of Finance (DoF) last week said it would take its crackdown on tax-dodging POGOs a step further by closing down those that still refuse to pay personal income tax withheld from their foreign workers even after being notified of such liabilities, and haling them to court.

The government estimates POGOs’ tax liabilities at a cumulative P21.62 billion, so far, and that it foregoes about P2 billion in monthly revenues for every 100,000 unregistered POGO workers in the country.

Philippine Amusement and Gaming Corp. (Pagcor) Chairperson and Chief Executive Officer Andrea D. Domingo backed the DoF’s move, telling reporters in a mobile phone message on Monday that the “BIR (Bureau of Internal Revenue) has the legal authority to close down establishments that evade taxes.”

“Pagcor supports this move. We are issuing a letter to all POGO operators and service providers to this effect.”

Traditional office tenants were the second biggest demand driver, taking up 320,000 sq.m., while IT-BPM firms occupied around 294,000 sq.m.

By the end of 2019, LPC estimates total office take-up to reach 1.2 million sq.m. in Metro Manila, about 450,000 sq.m of which will be by POGOs. IT-BPM locators are projected to occupy 350,000 sq.m., while the rest will be taken up by traditional offices.

Should the crackdown against POGOs prompt several of these businesses to leave the country, Mr. Leechiu said that IT-BPM — also known as business process outsourcing (BPO) — will be able to fill the gap.

“The POGO footprint is in four geographies, so if they disappeared today, the BPO sector will just backfill that requirement,” Mr. Leechiu explained.

POGOs currently operate in the so-called Bay area — land reclaimed from Manila Bay, Makati City, Alabang and Quezon City.

Mr. Leechiu also noted that 60-70% of POGOs are from China, while others hail from other markets like Australia, Europe and Japan.

Citing data from the Bureau of Immigration and IT and Business Process Association of the Philippines, LPC said POGOs spend about $9 billion in annual salaries for their employees, bigger than the estimated $7.5-billion cumulative annual pay for BPO workers.

POGOs are also seen as a key driver for the residential market, generating annual housing rental income of $680 million.

At the same time, the property consultancy maintained its stance that the Philippine Economic Zone Authority (PEZA) should continue declaring more economic zones in Metro Manila to drive the expansion of the IT-BPM sector, notwithstanding a moratorium imposed in June by Malacañan Palace under Administrative Order No. 18. “We would continue to encourage signing of more PEZA zones in Metro Manila because we need the BPO sector to keep growing in Manila if we want them to grow in the provinces,” Mr. Leechiu said.

AO 18 forms part of government efforts to push development further away from Metro Manila.

LPC noted that out of the 1.2-million sq.m supply pipeline until 2022, 86% are still applying for PEZA accreditation. Delays in their approval could lead to a deficit in PEZA space in the next five years, causing a slowdown in IT-BPM expansion in that period.

Mr. Leechiu said further that IT-BPM firms are likely to accelerate expansion in the Philippines over the next 12 months, in the face of expected recession in several major economies such as Italy, Germany, Mexico, Brazil, China, the United States and some Middle East countries.

“The Philippines is one of only two places in the world where BPOs can scale at the level they need to scale globally and quickly. Only India and the Philippines can give them the scale of talent they need to be able to have a meaningful impact on their bottom line.” — Arra B. Francia

What sectors drive demand for office space?

September 17, 2019 | 12:33 am

Energy dep’t taking stock of Saudi oil attack’s impact

September 17, 2019 | 12:32 am

THE DEPARTMENT of Energy (DoE) on Monday downplayed the impact of the attack on Saudi Arabia’s oil production sites on Saturday, saying it was “premature” to speculate on its effect on local petroleum prices even as television reports quoted department and industry sources as saying the incident could jack up pump prices by as much as P3-5 per liter.

However, the department said it was meeting with local oil companies this week and that it had convened an emergency meeting on Sunday after the attack on the facilities of Saudi Arabian Oil Co. (Aramco).

“We are seeking to ensure that the energy family will be sufficiently prepared to face the potential impact of this unfortunate incident, if any, on the country,” Energy Secretary Alfonso G. Cusi said in a statement.

The DoE was reacting to the attack by explosive-laden drones on Aramco’s crude processing plants, setting them on fire. The incident is estimated to have halved Saudi Arabia’s production — reducing it by 5.7 million barrels per day — and clipped world supply by five percent. The US is blaming Iran for the strike on the world’s biggest crude producer, with US President Donald Trump tweeting that the superpower was “locked and loaded” to deliver a response.

Bloomberg reported that Brent oil posted its biggest ever intraday jump to more than $71 a barrel before paring gains.

“It is premature at this moment to say that the Saudi Aramco incident would have an adverse impact on the country. The DoE is closely monitoring developments in the international markets until the last trading day on Friday to fully assess any impact on the prices,” Mr. Cusi said.

In an online message sent to reporters, the DoE said Mr. Cusi had directed a meeting this week with oil companies “to look into the sufficiency of inventory levels.”

“The impact on prices, if any, may be felt by Tuesday next week; that is, if there will indeed be an adverse impact. To date, the DoE reiterates that [estimating] the impact of the incident is still premature.”

The emergency meeting on Sunday afternoon was attended by representatives of the DoE’s Electric Power Industry Management Bureau and Oil Industry Management Bureau, as well as of the National Electrification Administration, National Power Corp., Philippine National Oil Co. (PNOC) and PNOC Exploration Corp.

“Rest assured that the DoE, together with the entire energy family, is closely monitoring the situation and will keep the public properly informed of developments on the matter,” the department said.

Petron Corp., the country’s biggest oil company, said that it does not expect any immediate supply disruption after the attack, even as it “regrets the recent attacks made on Saudi Aramco’s refinery facilities, affecting oil output on an international scale.”

“We wish to assure the public that there will be no supply disruption from our end. We have adequate supply to support our domestic requirements,” it said in a statement.

“Meanwhile, we are closely monitoring the situation and hoping that normalcy will be restored soon.”

Separately, Senator Sherwin T. Gatchalian said the surge of global oil prices as a result of the drone strike underscores the need for the DoE to put energy security at the forefront of its energy direction by diversifying the country’s oil supplier portfolio.

“Doing so would insulate consumers from price volatility,” Mr. Gatchalian said.

“Unforeseen external disruptions on the oil supply chain, such as what happened in Saudi Arabia, can create massive disruptions in our local transportation and power sector. In fact, the Philippines had been importing 33.7% of its crude oil from Saudi Arabia as of 2018, making [it] the top supplier of crude oil in the country.”

Mr. Gatchalian, who heads the Senate’s energy committee, said the DoE and local oil industry suppliers should formulate a contingency plan to replace Saudi oil in the short term until supply from that country normalizes.

He said the department should also ensure that oil companies and refiners are complying with the required minimum inventory of 15 days and 30 days, respectively, to cushion the impact of this disruption. — Victor V. Saulon

Senate to go through corporate tax reform with a ‘fine-toothed comb’

September 17, 2019 | 12:31 am

THE MEASURE that will reduce the corporate income tax rate to 20% by 2029 from 30% currently and overhaul fiscal incentives will go through a “fine-toothed comb” in the Senate, Majority Leader Juan Miguel F. Zubiri said on Monday, following the bill’s approval in the House of Representatives late last week.

“We will go through it with a fine-toothed comb. It’s going to be different from the House of Representatives, where it’s a numbers game. Here, each and every one of the Senators will have to look into these provisions,” Mr. Zubiri told reporters.

The House of Representatives on Friday approved on third and final reading House Bill No. 4157, or the “Corporate Income Tax and Incentives Rationalization Act (CITIRA).” The bill forms part of the administration’s comprehensive tax reform program (CTRP).

Mr. Zubiri said that amendments eyed by the Senate includes extending the “sunset” period for all incentives by five to seven years as opposed to the two to five years provided under the House version.

He also said the Senate plans to increase the gross income earned (GIE) rate to seven percent from the current five percent.

“As far as I’m concerned we will push for a longer time for transition because, apparently, the House mentioned only between two to five years. We’re going to push between five to seven years, a longer transition period which is requested by different chambers of commerce,” Mr. Zubiri said, citing among others the European Chamber of Commerce of the Philippine, Japanese Chamber of Commerce and Industry of the Philippines and the American Chamber of Commerce of the Philippines.

“We’re also looking at raising the gross tax payment from five percent to seven percent.”

The House bill provided a two-year transition period for locators already enjoying the five percent GIE for over 10 years, three years for those who have availed it for five to 10 years and five years for those below five years.

“Let’s just review first what’s mentioned in the CITIRA. We’re having a few hearings on the CITIRA this week. Maybe after those hearings, we can be clarified on what were the issues, what were taken out, and what were left behind,” he said.

“We have to strike a balance between companies that may leave the country due to the loss of these incentives, at the same time revenue for government and income generated by other industries because of the lowering of the income tax from 30% to 20%.”

The Senate Ways and Means committee begins on Tuesday tackling the second CTRP package which is the proposed CITIRA, and expects to conclude committee deliberation on package two-plus, which will increase excise tax rates on alcohol products and e-cigarettes.

Other remaining CTRP packages include proposals to provide a single framework for real property valuation and assessment and to simplify the tax structure for financial investment instruments, which were all among the measures mentioned by President Rodrigo R. Duterte in his July 22 fourth State of the Nation Address.

The government has so far enacted Republic Act No. 10963, which slashed personal income tax rates and increased or added levies on several goods and services; RA 11213, the Tax Amnesty Act, which grants estate tax amnesty and amnesty on delinquent accounts left unpaid even after being given final assessment; and RA 11346, which will gradually increase excise tax on tobacco products to P60 per pack by 2023 from P35 currently.

Sought for comment, Trade Secretary Ramon M. Lopez told reporters on Monday that “there is a bit of revenue contribution or improvement if we are going to extend the transition which we are working on with the DoF (Department of Finance) as a relief.”

“We can consider adjusting the GIE in the meantime kasi ang pinu-push is two to five years. I heard also from Senator Zubiri there that they’d like to push for a longer transition to soften the landing.”

The CITIRA is also among the measures proposed in July by 14 local and foreign business groups to the Office of the President and the 18^th Congress. — Charmaine A. Tadalan

Remittances recover in July to grow fastest in nine months — BSP data

September 17, 2019 | 12:30 am

By Luz Wendy T. Noble

MONEY SENT HOME by overseas Filipino workers (OFW) recovered in July from June’s drop to post the fastest growth in nine months, according to data the Bangko Sentral ng Pilipinas (BSP) released on Monday.

OFW cash remittances jumped 7.5% to $2.581 billion in July from $2.401 billion a year ago, and by 12.71% from June’s $2.290 billion, BSP data showed.

These inflows’ 7.5% growth pace in July was the fastest since October 2018’s 8.7% rise.

Personal remittances, which include inflows in kind, bore a similar picture, increasing by 7.2% year-on-year to $2.867 billion in July which was also the fastest since October 2018’s eight percent.

Sought for comment, UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion described the latest remittance performance as a “welcome result” due to its impact on gross domestic product (GDP).

“We were expecting a 4.9% growth year-on-year for July and $2.5 billion total inflow. This is positive for household spending for the beginning month of Q3 2019,” he said in an e-mail.

“As a largely domestically driven economy like the Philippines, this bodes well for how GDP for the third quarter of this year will turn out. More remittances inflow just means more domestic demand, and increasing domestic demand induces more economic expansion.”

GDP growth clocked in at a disappointing 5.5% last semester against the government’s 6-7% target for full-year 2019, due largely to late enactment of the P3.662-trillion national budget that left new projects unfunded.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort cited the stronger peso — at P50-51 to the dollar — for the bigger remittances as it required “more US dollars or foreign currencies to be sent to the Philippines by OFWs to their families/dependents.”

“Furthermore, improved/increased deployment of OFWs, especially diversification of OFW deployment to more host countries, especially in major/developed countries around the world (especially those countries that experience ageing population and requiring more labor from overseas) may have also partly supported the latest stronger growth in OFW remittances,” Mr. Ricafort added.

The seven months to July saw cash remittances growing 3.9% to $17.219 billion and personal remittances increasing by 3.6% to $19.119 billion.

The same comparative seven-month periods saw cash remittances from land-based and sea-based OFWs increase by 2.5% to $13.4 billion and by 8.9% to $3.8 billion, respectively.

US continued to top all sources of OFW remittances with a 36.8% share year-to-date, followed by Saudi Arabia, Singapore, United Arab Emirates, the United Kingdom, Japan, Canada, Hong Kong and Kuwait.

“The combined remittances from these countries [sic] accounted for 78.1% of total cash remittances from January to July 2019,” the central bank said.

Cine Europa adds Bohol to its run

September 17, 2019 | 12:08 am

CINE EUROPA opens its 22^nd edition in Metro Manila on Sept. 20 at its new venue at Cinema 1, Greenbelt 3 in Makati City. It runs until Sept. 24.

This year, the festival showcases 12 films presented by the embassies of Belgium, the Czech Republic, Denmark, France, Germany, Hungary, Italy, the Netherlands, Norway, Spain, Sweden, and the United Kingdom.

“Cine Europa is a distinctive way to showcase European cultural diversity and to open up opportunities in the cultural and creative industries,” the Chargé d’Affaires of the EU Delegation to the Philippines Thomas Wiersing was quoted as saying in a press release.

Cine Europa is also expanding its regional presence for the second year in a row by presenting the festival films for the first time in Bohol from Oct. 11 and 12.

At the press launch on Sept. 5 at Greenbelt 3’s My Cinema in Makati City, Mr. Wiersing said that adding new cities is an opportunity “to increase their footprint in the Visayas.”

After the Manila leg, the festival will be held at SM City in Cebu; SM in Iloilo City; Ateneo de Naga University and SM in Naga; the Palawan State University and SM in Palawan; and the Visayas State University in Baybay, Leyte. And of course, in Bohol. It will return to Metro Manila for its last leg at the Film Development Council of the Philippines (FDCP) offices in November.

“Cultural and creative sectors including the film industry play a significant role in ensuring the continuing development of societies, strengthening identity, creating jobs, and driving inclusive and sustainable growth,” Mr. Wiersing said. “I wish that somehow Cine Europa can provide a very good opening to enhance the bilateral relationship between the EU and the Philippines.”

The films to be shown are:

• Belgium’s Achter De Wolken (Behind the Clouds), directed by Cecilia Verheyden, about two people who meet after 40 years and question the possibility of a second chance at love.

• Czech Republic’s Teorie Tygra (The Tiger Theory), directed by Radek Bajgar, about a veterinarian who breaks free from his marriage to start a new life.

• Denmark’s Vinterbrødre (Winter Brothers), directed by Hylnur Pálmason, is about a feud between brothers and another family.

• France’s Tour De France, directed by Rachid Djaidani, follows a rapper who leaves Paris after a dispute with his rival, who then finds a friendship with a music producer.

• Germany’s Grüße Aus Fukushima (Greetings from Fukushima), directed by Doris Dorrie, follows an old geisha and a young women who become friends as they go through their own struggles amidst the 2011 Tohoku earthquake and the nuclear disaster in Fukushima.

• Hungary’s Búék (Happy New Year), directed by Krisztina Goda, follows a group of friends who regularly celebrate New Year’s Eve and catch up.

• Italy’s Essere Leonardo da Vinci, un’intervista impossibile (Being Leonardo da Vinci, an impossible interview), directed by Massimiliano Finazzer Florry, follows two journalists who find themselves at the polymath’s final resting place, unexpectedly meet him, and are granted an interview.

• The Netherlands’ De Marathon (The Marathon), directed by Diederick Koopal, follows four out-of-shape men who start training for a marathon, hoping to win enough money to pay a debt.

• Norway’s Kongens nei (The King’s Choice), directed by Erik Poppe, is based on true events from 1940 when the German army presented king of Norway with the choice to either surrender or die.

• Spain’s 10.000 km (Long Distance), directed by Carlos Marques-Marcet, follows a couple whose plans to start a family are imperiled when the wife is offered an artistic residency in Los Angeles.

• Sweden’s Tjuvheder (Drifters), directed by Peter Grönlund, follows a drug pusher who steals some money and travels with a friend out of town.

• United Kingdom’s Mary Shelley, directed by Haifaa Al-Mansour, centers on the love affair between poet Percy Shelley and Mary Wollstonecraft, that led to the creation of the first sci-fi novel, Frankenstein.

For more information and screening schedules, visit www.eeas.europa.eu/delegations/philippines or the official Facebook page of the EU Delegation to the Philippines. — Michelle Anne P. Soliman

Axelum lowers maximum offer price for IPO to attract investors

September 17, 2019 | 12:08 am

COCONUT PRODUCTS manufacturer Axelum Resources Corp. reduced the maximum offer price for its initial public offering (IPO) to P5.72 per share, in a bid to attract more investors.

In a disclosure to the stock exchange Monday, the company said the lower price was made in consultation with First Metro Investment Corp., the issue manager, bookrunner, and joint lead underwriter for the IPO.

The price is 16% lower than its earlier target of up to P6.81 per share. Axelum will announce the final offer price on Sept. 20.

“By updating the maximum offer price, we aim to optimize investors’ interest and appetite in our local stock market, include more investors while still maintaining funding for our strategic plans,” Axelum President and Chief Operating Officer Henry J. Raperoga said in a statement.

With this, the company can raise up to P6.463 billion in fresh capital from the sale of 1.13 billion common shares. This consists of 400 million treasury shares, 300 million new common shares, and 430 million existing common shares held by CP Compass Singapore Pte. Ltd.

Axelum will have a public float of about 28.25% after listing.

The company’s offer period will run from Sept. 24 to 30, in time for listing at the main board of the Philippine Stock Exchange on Oct. 7. It will list under the ticker “AXLM.”

Axelum plans to use the proceeds from the offering for the expansion of its domestic and international distribution networks, installation of new manufacturing facilities for new products, and improvements for existing manufacturing facilities.

It will also use a portion of the capital for acquisitions. Mr. Raperoga said in an earlier interview that they have offers from companies in Vietnam and in the Philippines for potential deals.

Part of the proceeds will also be used to pay existing debt and other capital expenditure requirements.

The company currently has its main production facility in Medina, Misamis Oriental, with two distribution facilities in the United States and Australia. Its customers include international brands such as Vita Coco, The Hershey Co., Nestlé, Unilever, Ferrero, General Mills, Campbell’s, Quaker, and ConAgra Foods, among others.

Its products include desiccated coconut, coconut milk powder, coconut milk or cream, and reduced fat coconut, as well as other coconut products.

Axelum expects sales volume of coconut water to increase this year, although overall revenues may slump due to lower global prices for coconut oil, an official said last week.

Coconut water accounts for about 20% to 30% of the company’s business.

Axelum will be the second firm to go public this year after property asset management company Kepwealth Property Phils., Inc. last August. It will be followed by Villar-led home improvement supplies retailer AllHome Corp., which plans to raise P20.7 billion.

Also pending with the Securities and Exchange Commission are the IPO applications of Cal-Comp Technology (Philippines), Inc., Metro Pacific Hospital Holdings, Inc., and Fruitas Holdings, Inc. — Arra B. Francia

How a ‘crazy’ man brought Dusit kind of luxury to Davao

September 17, 2019 | 12:08 am

By Marifi S. Jara
Mindanao Bureau Chief

TORRE LORENZO Development Corp. (TLDC) President and Chief Executive Officer Tomas P. Lorenzo likes to tell the story of how most everyone thought him “buang,” meaning crazy in Visayan, when he first started talking about developing top-end facilities in Davao City for business and leisure travelers.

That was about six years ago, before the city came into the spotlight being the President’s hometown.

At that time, several of the country’s major developers have set foot in Davao, doing mainly condominium and commercial projects.

Mr. Lorenzo’s inkling on the potential of an upscale development came from frequent trips between Manila and Davao, where the Lorenzo family has roots and diverse business interests.

“Flights were always full, and I was thinking, I don’t know these people, who are all these people?” he said in an interview at the new Dusit D2 Davao before the launching ceremony on Sept. 6.

Mr. Lorenzo said an informal market review indicated it was mostly businessmen who have taken on the investment opportunities in the country’s south as well as professional Filipinos working overseas who have the money to purchase property and spend for holidays.

“That’s where this came out,” he narrates.

TLDC, after exploring various options, forged a partnership with Dusit International.

The joint venture has borne not just the 120-room Dusit D2 Hotel, but also a linked 174-unit Dusit Thani Residences, a serviced condominium-hotel now in the final stages of completion, and the soon-to-be branded Dusit Thani at Lubi Plantation Resort on a private island in nearby Compostela Valley province.

A fourth hotel, a Dusit Princess brand, is also in the pipeline.

Dusit International Chief Operating Officer Lim Boon Kwee said working with the TLDC team has been “a pleasure” because their captain is a “very passionate developer.”

Torre Lorenzo Development Corp. President and CEO Tomas P. Lorenzo — *BW PHOTO*

Davao City Councilor Mabel Sunga-Acosta, delivering the mayor’s message during the Dusit D2 launch, said having another international hotel brand strengthens the city’s campaign to become a “major hub” for the meetings, incentives, conventions and exhibitions segment.

“You are not buang after all,” she tells Mr. Lorenzo.

Compostela Valley Governor Jayvee Tyron L. Uy said the Lubi resort, which is under his jurisdiction, is a “trendsetter” for the province that is also in the midst of rebranding as Davao de Oro in line with its program to attract investors and tourists.

“It means a lot to us, especially when you talk about creating economies, it will bring economic growth… and at the same time promoting tourism in the province,” he said in an interview with BusinessWorld at the Lubi resort.

The Dusit Thani, which is on the site of a former coconut island plantation, is still a work in progress but several villas are now ready for occupancy alongside The Beach Club, which is open for day-trippers.

“This is not your P50 (per person entrance fee) type of resort, which I am sure we have all experienced,” Mr. Lorenzo said. “Think Dusit Maldives.”

Christopher Wichlan, general manager of the Dusit properties in the Davao Region, said what they have now is a unique product cluster consisting of an “exclusive destination” and “value for money.”

The Beach Club, when fully completed before the end of the year, will include a dive center that would allow guests to explore the waters around the island that has been kept as a marine sanctuary for 30 years.

For staying guests, “natural barriers” will be set up to create a private space with exclusive facilities.

“The way we’ve invested here (all the Davao properties), with all the technologies and security is to make sure that everyone has the confidence to come here,” Mr. Wichlan said.

Mr. Lorenzo said the bigger commitment behind the Davao ventures has been to contribute to the growth of Mindanao, the Philippine’s vast southern islands that continue to address both real and perceived concerns on peace and security.

“I am from Mindanao… the idea here is developing Mindanao.”

CHNDTR specializes in hugot-core

September 17, 2019 | 12:07 am

CHNDTR sometimes find themselves sidelining as relationship counselors on their Facebook page.

WITH SO MANY bands trying to make it into the music scene, the goal has always been about making an impact — and for three-year-old band CHNDTR, it meant creating their own musical genre.

Named after lead singer Chin Detera, the band got together in 2016 when it won the top prize at the Robinsons Supermarket Deli Music Battle of the Bands. With their penchant for “songs [that] have so much feels to it (sic),” the band members decided to call their music “hugot-core.”

Hugot is a popular slang term used to describe words and sentences inspire great emotion — usually sadness and heartbreak — from a person.

“The term hugot-core was coined by our fans. They were the ones who started calling our music that and we decided to run with it,” Ms. Detera told BusinessWorld in the vernacular during a press conference to launch the band’s latest single on Sept. 3 at The 70s Bistro in Quezon City.

The new single, “Sulat,” is a follow-up to the 2018 single “Kulang,” which was part of their debut album Habang Umuulan. Both are songs of heartbreak.

But the focus on emotional love songs was not something they started out doing on purpose.

“When we write our music, that’s what comes out. Maybe it’s because of our influences. But the lyrics always come from Chin,” Benjo Criste, the band’s drummer, said at the press conference.

Ms. Detera explained that her lyrics come from all sorts of experiences — she wrote one song when her bandmates hung up on her when they were talking.

“Oh okay, they hung up on me. We now have a new song,” she said while laughing.

Aside from Ms. Detera and Mr. Criste, the other band members are Sean de Leon on bass and Niko Bacani on lead guitar.

CHNDTR, which is pronounced as “Chin Detera,” also plays on the idiosyncrasies of a generation who grew up texting messages without vowels to fit in the character limits of pre-smartphone cellphones.

“We were really called Chin Detera before, but Chin felt that she really wanted to make it feel like a band and not like a solo act so we played with changing our names. But our previous manager didn’t want us to change our names so as a compromise, we decided to just take out all the vowels,” Mr. Bacani said.

Three years in (though Ms. Detera said she has been singing and writing since she was nine years old) the band is focusing on strengthening its presence and amassing a dedicated following from the same millennial (or younger) age group.

To keep them involved with the fans beyond their gigs, Ms. Detera said that they have a Facebook group where they communicate with fans — which at times some fans use to ask for relationship advice.

“So we’re not only a band, we’re also sidelining as relationship counselors,” Ms. Detera said. — ZBC

Damosa Land tops off Seawind’s 5th tower

September 17, 2019 | 12:07 am

DAVAO CITY — Damosa Land Inc. (DLI) is aiming to complete its six-building Seawind condominium project by next year, with construction currently ahead of schedule.

“All six towers should be finished already by the end of 2020, which is actually our original construction schedule. Our original plan was to finish it in six years. We are sticking to that schedule,” DLI Vice President Ricardo F. Lagdameo told BusinessWorld during a company event last week.

Seawind’s fifth tower was originally targeted for completion by May 2020.

“So the construction has been ahead of schedule, even for Tower 6 wherein we are also few months ahead of schedule,” Mr. Lagdameo said.

“The topping off shows that we are sticking to our timetable and our commitment to our customers,” he added.

Seawind, DLI’s first condominium project launched in August 2015, is within a 2.7 hectare property in Davao City’s Sasa area.

Its amenities include a swimming pool, clubhouse, pocket parks, walkways, commercial complex and a public transport terminal.

Mr. Lagdameo said they aim to finish the whole project by the end of next year.

Of the 1,161 total units in the six buildings, about 97% are already sold, according to Mr. Lagdameo.

“Majority of our buyers are mostly of working age about 25 years old to 45 years old and employed by various companies. We also have some executives and a lot of Anflocor employees,” he said.

DLI is the property development arm of the Floirendo-owned Anflo Management and Investment Corp. (Anflocor). — Maya M. Padillo

Hijo’s township seen to boost economic activity in Mindanao

September 17, 2019 | 12:07 am

By Maya M. Padillo, Correspondent

TAGUM CITY — Hijo Central, a smart and sustainable township project by Hijo Resources Corp. (HRC), is expected to generate around $10 billion in economic activity in Mindanao.

Launched Sunday, Hijo Central will be developed in 132 hectares of the 1,054-hectare HRC property in Madaum, Tagum, Davao del Norte.

HRC Vice Chair and Chief Executive Officer Rosanna Tuason-Fores told media they see huge potential from the project on the back of the economic activity to be generated, such as port usage and logistics, leisure and tourism, agribusiness, property development, and the renewable energy components of the project.

Ms. Fores added that they are currently looking for locators and boutique investors to locate in Hijo Central.

She said they are partnering with sustainable partners for power, water provider and telecommunications.

They will also establish a smart city, a hub for food technology, biotech, and agritech, she said.

“Smart cities are not just for technology. It is about building an ecosystem of smart people, smart place and smart planet. From a farm to a smart city with Hijo Central at the core of it all,” Ms. Fores said.

She added that Hijo Central will include a digital agricultural marketplace, which is a platform that connects farmers to global customers.

In partnership with Kitchen Israel, Ms. Fores said Hijo Central will establish a food innovation hub where entrepreneurial ideas are exchanged, laboratories are available to test these ideas, and where interested proponents can get support from the academe and private sector for commercialization to maximize the value of a growing food market.

In his speech during the launch, Ramon B. Segismundo, president and chief operating officer of HRC, said Hijo Central will support agricultural modernization with farm initiatives and agricultural industrialization with a state-of-the-art banana and coco sugar manufacturing facility worth more than P600 million.

Mr. Segismundo said they will also establish a digital agriculture platform in partnership with indigenous peoples farmers to boost their livelihood.

Through a grant from the Department of Science and Technology (DoST), HRC will come up with an app that will help farmers to get enough yield and improve the quality of bananas, he said.

Mr. Segismundo said with the help of Israeli experts and in partnership with DoST, they will also be forming a start-up that will incubate ideas and commercialize practices in agriculture.

“If there is a Silicon Valley, there will be a DavNor Valley in agriculture. Hijo Central is the first smart and sustainability city in Tagum and part of the vast growing region in the Philippines, Metro Davao. We contribute to restore and rebuild the corals and mangrove in our ecosystem and all of these would not be possible without our pro-God, pro-poor, pro-environment leader Rossana Fores,” Mr. Segismundo said.

With a master plan of 10 years, the development of Hijo Central will be done in four phases.

Sujata S. Govada, CEO and managing director of Urban Design Planning International, the master plan partner of HRC for the project, said they have ye to finalize what will be done in the first phase of the project’s development.

“But land development has already started,” Ms. Fores noted.

Ms. Fores also assured that the environment will be protected, with 49% of the development to be devoted to green spaces and 51% for saleable spaces.

“People, place, and planet concept is a smart city framework. Hijo Central will have a lot of space,” Ms. Govada assured.

The HRC site is classified as a Planned Unit Development Zone by the City of Tagum Comprehensive Development Zoning Ordinance. HRC was founded by the late Jose “Boy” Tuason, Jr. who acquired Hijo Plantation, Inc.

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