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CREC sets over $1-billion capex for solar projects

CITICORE SOLAR Pampanga 1, Arayat, Pampanga — CREC.COM.PH

CITICORE Renewable Energy Corp. (CREC) has allocated a capital expenditure (capex) budget of more than $1 billion (around P56 billion) for this year, with the majority of the funds earmarked for its first gigawatt (GW) of solar power projects, its president said.

“Total capex for 2025 would roughly be around north of $1 billion,” CREC President and Chief Executive Officer Oliver Y. Tan said during the company’s virtual annual stockholders’ meeting on Monday.

Mr. Tan said most of the budget had already been spent in the early part of the year to finance the 1-GW solar projects expected to be energized before yearend.

The balance is allocated for the second set of solar projects, which are scheduled to break ground in the second half of the year.

Last year, CREC earmarked a capex of around P35 billion, primarily for renewable energy (RE) projects.

CREC aims to add 1 GW of capacity annually to the Philippines’ energy mix, focusing on ready-to-build or under-construction projects over the next five years, targeting a total of approximately 5 GW by 2028.

While the company is still relatively new, Mr. Tan said CREC takes pride in its “vertical integrated business model.”

“We are an RE developer. At the same time, we have an in-house engineering, procurement, and construction arm. Post-energization, we also operate and maintain our plant in-house,” he said.

He said this business model gives the company two advantages: speed of execution and cost competitiveness.

“According to [the] Department of Energy, we corner 20% of total solar generated output for the past three years. We aim to maintain the same market share, if not increase [it], upon the energization of almost one gigawatt before the end of the year,” Mr. Tan said.

For the first three months, CREC reported an attributable net income of P137.89 million, up 15.4% from the previous year, driven by higher electricity sales.

CREC, directly and through its subsidiaries and joint ventures, manages a diversified portfolio of renewable energy generation projects, power project development operations, and retail electricity supply services.

At present, the company has a combined gross installed capacity of 285 megawatts from its solar facilities in the Philippines. — Sheldeen Joy Talavera

Nintendo’s Switch 2 has the handheld market all to itself

NINTENDO.COM

By Dave Lee

EIGHT YEARS since the launch of Nintendo Co.’s original Switch, the new console is finally here, in stores Thursday and online Friday. To greet the Switch 2, the return of what I feel is a much-missed staple, there was a frenzied midnight launch. Reports The Guardian:

“The sight of throngs of gamers looking to get their hands on the latest hardware when the clock strikes 12 is growing increasingly rare. But if you happen to walk by a Smyths toy shop at midnight on 4 June, you may encounter a blast from the past: excitable people, most in their teens or 20s, possibly discussing Mario Kart. They will be waiting to buy the Nintendo Switch 2, the first major games console launch since 2020 and potentially the biggest of all time.”

When the first Switch hit the market in 2017, rival console makers paid little attention. Nintendo was the walking wounded, reeling off the back of a highly disappointing Wii U, which sold a mere 13.6 million units, an extreme disappointment after 100 million in sales of the groundbreaking Wii. Its choice to separate from the pack, to not create a traditional home console to compete with Microsoft Corp.’s Xbox and Sony Group Corp.’s PlayStation, was seen as an admission of having fallen behind.

The device lacked technical capability and had a massive reliance on games Nintendo itself would need to make. Yet, as with the GameBoy all those years ago, weaker hardware compared to its competitors mattered little when the games were so smart and joyful. The company has sold more than 150 million Switch consoles globally, proving the form factor — a high-end mobile gaming device that could be played on TV if you wanted — hit a sweet spot.

You’d think, then, that competitors would be ready to pounce, but no. This time around its challengers are Sony, Microsoft, Valve, and, possibly, Apple Inc. At least, in theory: Despite being given the best part of a decade to think about it, none of Nintendo’s would-be competitors seem to have figured out exactly how to take it on.

Sony’s most recent foray into handhelds was the PlayStation Portal, which only worked if you also had access to a PlayStation 5 to stream your games from. A more direct Switch-like handheld is said to be in the works, but reportedly won’t arrive until the launch of the PlayStation 6 — meaning 2027 or later.

Microsoft, whose latest Xbox consoles have been heavily outsold by the PlayStation, is reported to have a partnership with manufacturer ASUS that will see an Xbox-branded device launched this year. It will essentially be a portable way to play PC games, making it more of a competitor against Valve’s Steam Deck, a handheld that runs titles available on the Steam platform. So far, this PC-gaming-on-the-move market is small. The Steam Deck, plus a small number of other variants on the theme, have sold a combined 6 million over the past three years, according to market research group IDC. This sector could be helped by advancements in cloud gaming, where you pay a fee to remotely play a much more powerful computer than the one in your hand, but I don’t see that becoming a mainstream demand any time soon.

The ASUS-Microsoft device, according to the influential news site Windows Central, will serve as a “research experience for Microsoft.” The site adds that a wholly Microsoft-designed Xbox handheld isn’t likely until 2027 at the earliest, if it happens at all.

It means the Switch 2 has the handheld market to itself for the foreseeable future — unless there’s a wildcard in the form of Apple. At this week’s World Wide Developers Conference, the company is expected to launch a standalone gaming app that will be pre-installed across its products. Apple already has an “Arcade” subscription offer but it’s not yet seen as a destination for serious gamers. That could change if the firm decides to make high-end games and investment its focus. Games companies have traditionally not enjoyed building games for Apple’s platforms, but the lure of being available on well over 2 billion active devices might be a powerful incentive.

While that plays out, Nintendo predicts it could sell as many as 20 million Switch 2 consoles by March next year, if it can make them quickly enough. Other potential hazards include uncertainties around pricing in the wake of President Donald J. Trump’s tariff yo-yoing, and the question of whether gamers might baulk at the increased cost of some marquee titles. Raising eyebrows as the launch date drew near was the fact Nintendo did not, as is the long-established norm, send out consoles to gaming publications for review, saying that “important features and updates” would be made available on launch day. Many are taking that as an indication that engineers are working furiously to get its software ready for primetime.

One might question how much reviews matter, though. The New York Times declared the Switch to be “mediocre” and “so-so on the go.” Nobody is daring to write off the strategy now. And yet, the biggest sales competitor to the Switch 2 will be the Switch 1, which is only around 10 million units shy of overtaking the PlayStation 2 as the biggest-selling games console of all time. — Bloomberg Opinion

Emperador earmarks lower P4-B capex for expansion projects

EMPERADORBRANDY.COM

LISTED whisky and brandy producer Emperador, Inc. has earmarked P4 billion for capital expenditure (capex) this year to boost production capacity.

Emperador will use most of the capex for the ongoing expansion of its Dalmore distillery in Alness, Scotland, which is scheduled for completion in the second half of the year. This year’s capex is lower than the P6.5 billion allocated for 2024.

“We are almost at the completion of the Dalmore distillery expansion in Alness, Scotland. This is envisioned to double the brand’s production capacity while also providing a new visitor experience,” Emperador Chairman and President Winston S. Co said in a regulatory filing on Monday.

The company is also expanding the whisky maturation complex at its Invergordon distillery, doubling its footprint to 92 hectares from 45.4 hectares. This will allow the grain distillery to house an additional 1.5 million casks of maturing whisky.

“All this effort will ensure the capability of the whisky business to meet greater global demand for single malt and blended whiskies in the long term,” Mr. Co said.

During the virtual stockholders’ meeting on Monday, Mr. Co said Emperador remains optimistic about its long-term growth prospects.

“We believe that the global business will continue to grow next year. When we look at the five-year horizon, we are very excited. All global reports indicate that there will be a continuous growth maybe following this year on a global basis,” he said.

“We believe that both the brandy and the whisky will have very good prospects in the coming years,” he added.

Mr. Co said Emperador is looking to tap new opportunities in markets such as China and India to support its growth plans amid tariff-related uncertainties.

“We are looking at opportunities wherein we can capitalize. One of the opportunities that have happened recently is the lowering of the Scottish whiskey taxes in India. The taxes came down by around 50%. We expect a surge in the importation into India,” he said.

Mr. Co said the company’s whisky business is also expected to return to growth despite strong market competition.

“We see that whiskey is still much more stable and resilient compared to the other categories in the alcoholic beverage sector. Nevertheless, we are seeing a slowdown in the whiskey business across the world. The market has become very competitive. We believe, however, that this is cyclical,” he said.

“We believe that eventually the Scotch whiskey business should return to growth. We are hoping that starting 2026, there should be a resurgence and a rebound back to regular consumption. It’s in the premium high-end segment that is a little bit affected. But we believe that consumption should continue,” he added.

Meanwhile, Emperador stockholders approved the election of Mr. Co, Katherine L. Tan, Kendrick Andrew L. Tan, and Kevin Andrew L. Tan as directors.

Stockholders also elected Jose Rene Gregory D. Almendras, Jesli A. Lapus, and Ho Poh Wah as independent directors.

Tycoon Andrew L. Tan stepped down from the board but was named chairman emeritus during an organizational board meeting following the stockholders’ meeting. Enrique M. Soriano III also stepped down as lead independent director. Mr. Almendras and Ms. Tan were elected to the company’s board in their place.

Mr. Co was named chairman and president, while Glenn D. Manlapaz was appointed chief executive officer.

Emperador shares rose by 0.55% or eight centavos to P14.50 apiece on Monday. — Revin Mikhael D. Ochave

Canada’s BCI to acquire minority stake in Pinnacle Towers

STOCK PHOTO | Image by Aopsan from Freepik

BRITISH COLUMBIA Investment Management Corp. (BCI) has signed an agreement to acquire a minority stake in Pinnacle Towers, a major telecommunications tower operator in the Philippines.

“BCI’s investment marks an important milestone in our journey and is a strong endorsement of our mission. With BCI and KKR as strategic partners, we are well-positioned to continue driving greater digital connectivity in the Philippines and across the region,” Pinnacle Towers Chairman and Chief Executive Officer Patrick Tangney said in a media release on Monday.

BCI will acquire the minority stake in Pinnacle Towers from KKR & Co. Inc., which will remain the company’s majority shareholder.

KKR’s interest in Pinnacle Towers comes from its Asia Infrastructure Funds I and II.

The three parties signed definitive agreements for the transaction on Monday. The deal is expected to be completed by the third quarter of the year, subject to regulatory approvals.

Founded in 2020, Pinnacle Towers operates around 7,000 towers across the Philippines. Its core business focuses on the development and operation of telecommunications infrastructure and related assets.

The platform also specializes in executing build-to-suit telecommunications tower projects and optimizing the use and management of sale-and-leaseback assets with leading mobile network operators.

“The Philippines represents a compelling market for long-term capital, especially in essential digital infrastructure services. This investment aligns with our emerging markets strategy of backing high-quality infrastructure assets alongside strong institutional partners,” said BCI Executive Vice-President and Global Head for Infrastructure and Renewable Resources Lincoln Webb.

Mr. Webb said BCI will continue to support Pinnacle Towers’ efforts to enhance digital connectivity.

BCI’s Infrastructure & Renewable Resources program has nine active investments in the Asia-Pacific region, including Rakuten Mobile in Japan, Altius in India, and Cube Highways, a toll road operator also in India.

Its acquisition of a minority stake in Pinnacle Towers will further expand its presence in Asia.

“The announcement that Canada’s BCI is acquiring a minority stake in KKR-backed Pinnacle Towers marks a significant move in the digital infrastructure space,” Globalinks Securities and Stocks, Inc. Head of Sales Trading Toby Allan C. Arce said in a Viber message.

This investment reflects global trends and underscores the critical role of telecommunications and digital connectivity, Mr. Arce said, adding that Pinnacle Towers stands to benefit from BCI’s financial strength and long-term investment perspective.

“For BCI, this investment underscores its commitment to digital infrastructure, a sector poised for exponential growth due to rising demand for connectivity. By aligning with Pinnacle Towers, BCI reinforces its strategy to diversify its portfolio with assets that promise stable and growing cash flows, especially in emerging markets where digital transformation initiatives are on the rise,” he said.

Globalinks Securities’ Mr. Arce said the move could positively impact the digital infrastructure landscape in the region, as Pinnacle Towers’ expansion may improve mobile network penetration, data speeds, and access to digital services in underserved markets.

China Bank Capital Corp. Managing Director Juan Paolo E. Colet said the transaction signals that the Philippine telecommunications infrastructure sector presents attractive opportunities for long-term institutional investors like BCI.

“The deal could also pave the way for more foreign capital flows into digital infrastructure development and mergers and acquisitions in our country,” Mr. Colet said. — Ashley Erika O. Jose

Entertainment News (06/10/25)

Heneral Luna, Goyo return to cinemas

IN celebration of Philippine Independence Day, the box office and critically acclaimed historical epics Heneral Luna and Goyo: Ang Batang Heneral are returning to the big screen starting June 12. These award-winning films chronicle the lives of Generals Antonio Luna and Gregorio del Pilar, heroes of the Philippine Revolution. They are the first two installments of TBA Studios and director Jerrold Tarog’s so-called Bayaniverse trilogy, the final chapter of which, Quezon, arrives in theaters later this year. The movies will be shown in the following participating cinemas: June 12 only – Robinsons Galleria Ortigas, Robinsons Manila, Robinsons Antipolo, Shangri-La Red Carpet Cinemas, Fishermall Quezon City, Fishermall Malabon, and Sta. Lucia East Grand Mall; June 12 to 15: SM Cinema North EDSA, SM Cinema Mall of Asia, and SM Cinema Fairview. Ticket prices start at P150 in select cinemas.

Live-action Snow White debuts on Disney+

DISNEY’S Snow White will start streaming exclusively on Disney+ on June 11. The live-action retelling of Disney’s Snow White and the Seven Dwarfs (1937) is set to a soundtrack that blends original songs with fresh takes on beloved classics, The film comes to life musically through the talents of EGOT-winning duo Benj Pasek and Justin Paul (The Greatest Showman, La La Land). Snow White (Rachel Zegler) shares her hopes in the heartfelt new ballad “Waiting on a Wish,” one of several “contemporary kingdom” tracks that join timeless favorites like “Heigh-Ho” and “Whistle While You Work.” Fans can also revisit Snow White and the Seven Dwarfs, the groundbreaking animated classic, which is now streaming on Disney+.

Ed Sheeran releases new single

FOLLOWING the technicolor pop of “Azizam” and the heartfelt nostalgia of “Old Phone,” Ed Sheeran is back with a new single titled “Sapphire,” a vibrant summer pop song. It celebrates love that transcends boundaries, featuring intricate South Asian percussion, backing vocals, and sitar by Indian artist Arijit Singh. It is also produced by Ilya Salmanzadeh, Johnny McDaid, and Savan Kotecha. “Sapphire” is out now on all digital music streaming platforms.

DreamPlay offers 10th anniversary activities

THIS JUNE, DreamPlay by DreamWorks at City of Dreams Manila is celebrating a decade of advocating the “learn, play, and create” concept through exploring the world of DreamWorks animation. To mark the milestone, it is offering a Viking adventure through 12 new attractions based on How to Train Your Dragon, a new live-action movie. Access to this costs P2,999 until June 29, inclusive of photo memorabilia, a chocolate milkshake, and a tumbler and necklace kit. On June 12, there will also be a Viking Costume Contest at 1:30 p.m., open to participating pass holders. Prizes for the winner include five lunch buffet vouchers at The Café at Hyatt Regency Manila and a Toothless plush toy. Finally, June birthday celebrants can avail of one free participating pass when accompanied by two participating pass holders, from June 1 to 29. Proof of birth date must be presented to obtain the free pass, valid only on the day it is issued.

Kenny G to hold one-night concert in Manila

AWARD-WINNING saxophonist Kenny G will take the stage for a one-night-only concert featuring his signature smooth jazz on July 15 at the New Frontier Theatre in Cubao, Quezon City. With a stellar career spanning over three decades and over 75 million records sold worldwide, Kenny G remains one of the most celebrated instrumental musicians of all time. Kenny G continues to redefine smooth jazz with his more recent releases. New Standards, follows his 2015 release, Brazilian Nights, inspired by the jazz ballads of the 1950s and ’60s. His very latest album, Innocence, combines his sense of melody with some very familiar songs that many will recognize from their childhood. Tickets to the concert are on sale via www.ticketnet.com.ph.

GMA Network presents new season of The Clash

GMA NETWORK’S hit singing competition The Clash is back for its new season, with the format “New Clashers versus Clashbackers.” For the first time in the show’s history, two batches of “clashers” will face off in an all-out vocal showdown. The new “clashers” were revealed to be Adelle Yu, Carlos Florez, Divine Camposano, Jan Echavarria, Jayce San Rafael, Juary Sabith, Liafer Deloso, Leigh Atienza, Marian Pimenta, Mitzi Josh, Scarlet Yape, and Venus Pelobello, all facing off with 12 returning contestants. The Clash airs on GMA Network.

James Reid drops new single with TJ Monterde

MULTI-AWARDED singer and actor James Reid has released his new single “Pahinga,” featuring pop hitmaker TJ Monterde. The collaboration serves as the focus track off the jgh (Deluxe) EP, released under Sony Music Entertainment and Careless Music. Produced by Mr. Reid and Brian Lotho and co-written by both with Jason Marvin and Mr. Monterde, “Pahinga” delves into love’s quiet resilience. The ballad “reflects the maturity of lovers during difficult moments.” It is out now on all digital music streaming platforms.

Robinsons Department Store opens back-to-school sale

THERE ARE shopping deals at Robinsons Department Store for school supplies this year, through the Back-to-School Sale that is ongoing until July 15. The store offers select uniforms, school shoes, notebooks, backpacks, and skincare products for up to 50% off across all branches nationwide. From June 12 to 15 and June 27 to 30, there will also be exclusive Payday Deals. The Shop Now, Pay Later promo is giving away P300 gift certificates from noon to 2 p.m., and P200 gift certificates for the rest of the day for a minimum of P5,000 single receipt purchase.

Japanese singer Ito Kashitaro to perform in Fête PH

JAPANESE singer-songwriter Ito Kashitaro is set to return to the Philippines following a successful debut visit in 2023, this time with more venues and collaborations. The masked singer will perform from June 21 to 25 across different venues in Metro Manila, Los Baños, and Baguio. Notably, he will be performing at the main stage of Fête de la Musique PH on June 21, held at the Ayala Triangle Gardens in Makati. The other venues are Happyland, Tondo, Manila on June 22; Mt. Makiling, Los Baños, Laguna, on June 23; and Baguio City on June 24 and 25. For more details, visit the official site: www.feteph.com.

QCinema launches RainbowQC festival for Pride Month

IN celebration of Pride Month, the QCinema International Film Festival is introducing the QCinema RainbowQC Pride Film Festival. Formerly a section within the program, RainbowQC now takes center stage with its own curated program. It is slated for June 25 to 27 at Gateway Cineplex 18, Gateway Mall 2, in Cubao, Quezon City. Leading the program is the Southeast Asian premiere of The Wedding Banquet by Andrew Ahn, a contemporary reimagining of the Ang Lee classic that explores themes of identity, family, and the evolving dynamics of modern relationships. Also featured is the Philippine premiere of Some Nights I Feel Like Walking, a co-production between the Philippines, Italy, and Singapore, directed by Petersen Vargas. For the full film lineup and screening schedule, visit QCinema’s social media pages.

Addison Rae releases debut album

POP superstar, songwriter, and actress Addison Rae has dropped her debut album, Addison, via Columbia Records. Alongside the 12-track album release, there is also a new music video for Ms. Rae’s song “Times Like These,” directed by photographer Ethan James Green, who also shot the album’s artwork. Shot across New York City scenes, the video follows Ms. Rae from a breezy boat ride to backstage scenes and ultimately into her signature, high-energy choreography. Addison is out now on all digital music streaming platforms.

The Itchyworms set to tour the UK

FILIPINO rock icons The Itchyworms will perform in the UK for the first time with the #AkinKaNaLangUK Tour. The chart-topping act behind the hits “Beer,” “Love Team,” and “Di Na Muli” will have a three-city tour covering Manchester, Liverpool, and London. This follows the band’s well-received shows across Japan, Singapore, the US, Canada, and Taiwan. The dates are: Night and Day Cafe in Manchester on June 22, Cavern Club in Liverpool on June 23, and Dingwalls Camden in London on June 28. Tickets are available via www.itchyworms.com.

Top Frontier Investment Holdings, Inc. announces Annual Stockholders’ Meeting on July 9 via remote communication

NOTICE OF 2025 ANNUAL STOCKHOLDERS’ MEETING
July 09, 2025

The 2025 Annual Stockholders’ Meeting of TOP FRONTIER INVESTMENT HOLDINGS, INC. will be held on July 09, 2025 (Wednesday) at 2:00 p.m. The Company will conduct the Meeting through remote communication.

The proceedings will be livestreamed at the Company’s website www.topfrontier.com.ph. The Chairman will preside the Meeting at 40 San Miguel Avenue, Mandaluyong City, Metro Manila, Philippines.

The Agenda of the 2025 Annual Stockholders’ Meeting is as follows:

  1. Certification of Notice and Quorum
  2. Approval of the Minutes of the Annual Stockholders’ Meeting held on July 09, 2024
  3. Presentation of the Annual Report
  4. Ratification of Acts and Proceedings of the Board of Directors and Corporate Officers
  5. Appointment of External Auditors
  6. Election of the Board of Directors
  7. Approval of the Per Diem Allowance for Directors
  8. Other Matters
  9. Adjournment

The electronic copies of the Minutes of the Annual Stockholders’ Meeting held on July 09, 2024, the Notice of the 2025 Annual Stockholders’ Meeting, the Definitive Information Statement (together with the Management Report), the sample ballot and proxy form, the 2024 Annual Report (SEC Form 17-A), the 1st Quarter 2025 Report (SEC Form 17-Q), the summary of the resolutions of the Board of Directors since July 09, 2024, and other pertinent documents for the 2025 Annual Stockholders’ Meeting, are available at the Company’s website and can be easily accessed through this link: www.topfrontier.com.ph/index.php/investor/TFASM2025. The aforementioned Company reports and other disclosures are likewise available in the Philippine Stock Exchange Electronic Disclosure Generation Technology (PSE Edge).

Stockholders can only attend the 2025 Annual Stockholders’ Meeting by remote communication by following the procedure summarized below.

a. Stockholders may view the livestream of the meeting by accessing the link provided in the Company website www.topfrontier.com.ph. There will be an audiovisual recording of the proceedings, for future reference.

b. Attendance of the stockholders of record as of May 30, 2025 shall be counted, and their votes will be cast, through ballots submitted by the stockholders or their proxies. The deadline for the submission of ballots and proxies is on June 25, 2025.  Ballots and proxies may be sent through email at stockholders@topfrontier.com.ph or by mail to the SMC Stock Transfer Service Corporation office located at the 2nd Floor, SMC Head Office Complex, No. 40 San Miguel Avenue, Mandaluyong City 1550, Metro Manila, Philippines.  Validation of ballots and proxies will be on July 02, 2025 at 2:00 p.m. at the SMC Stock Transfer Service Corporation office located at the above-mentioned address.

For an individual, his/her ballot or proxy must be accompanied by a scanned copy of his/her valid government-issued identification card with photo for verification of identity. For a corporation, its ballot or proxy must be accompanied by its Corporate Secretary’s certification setting the representative’s authority to vote and/or represent the corporation in the meeting, where applicable.  Ballots and proxies need not be notarized. For your convenience, a sample ballot/proxy is attached to the Definitive Information Statement. Hard copies of the ballots and proxies and notarized Secretary’s Certificates are requested to be sent to the SMC Stock Transfer Service Corporation office located at the above-mentioned address within a reasonable time thereafter.

c. The Company shall entertain questions and comments after the Presentation of the Annual Report.  Questions and comments to the Board of Directors and/or Management may be sent in advance (or may be written in the ballot/proxy) by email to stockholders@topfrontier.com.ph.  Questions which were not answered during the meeting shall be forwarded to the Office of the Corporate Secretary for appropriate response.

d. The requirements and procedure for the nomination for election to the Board, the pre-screening and evaluation of the qualifications of the nominees, and the voting procedure for all items in the Agenda (including the election of the members of the Board), are set out in the Definitive Information Statement.

e. Stockholders whose shares are lodged with brokers are requested to directly contact their respective brokers for guidance on their participation in the 2025 Annual Stockholders’ Meeting.

Should you have questions or requests for clarification on the procedure for the 2025 Annual Stockholders’ Meeting, please email them to stockholders@topfrontier.com.ph.

(Original Signed)
Virgilio S. Jacinto
Corporate Secretary and
Compliance Officer

 

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Allied Care Experts (ACE) Medical Center – Tacloban, Inc. to hold 2025 Annual Stockholders’ Meeting on July 3

NOTICE OF ANNUAL STOCKHOLDERS’ MEETING

DEAR STOCKHOLDERS:

Please be informed that the Annual Stockholders’ Meeting of Allied Care Experts (ACE) Medical Center – Tacloban, Inc. (“ACEMC-Tacloban”) will be held on July 3, 2025 (Thursday) at 8:00 o’clock in the morning, via Zoom Webinar, in light of the COVID pandemic.

For the conduct of the Webinar, please register on or before June 16, 2024, through the following link:

https://us06web.zoom.us/meeting/register/8q1X6IyZRQ67Ew7da08cCQ

Once you have successfully registered, you will receive a confirmation email containing information about the webinar meeting.

The link will provide you the process for the registration. You will receive a confirmation email once you have successfully registered in the platform, including the details and procedures in the conduct of the meeting. Voting will be done via the online tool which you can access once you have logged in to the Webinar; voting in the election of directors may also be done in absentia through the above link.

The meeting shall be recorded (visual and audio) for future reference. The Agenda:

  1. Call to Order
  2. Invocation
  3. Determination of Quorum
  4. Welcome Message
  5. Reading and Approval of the Minutes of the Y2024 Annual Stockholders’ Meeting
  6. Presentation and Approval of the Y2024 Audited Financial Statements
  7. President’s Report
  8. Ratification of the Acts and Proceedings of the Board of Directors, Officers, and Management of the Corporation for the period June 20, 2024 to July 2, 2025
  9. Election of the Board of Directors for the year 2025-2026
  10. Appointment of External Auditor for the year 2025
  11. Other Matters
  12. Adjournment

Only stockholders of record at the close of business on June 13, 2025, Friday, shall be entitled to notice of and to vote at the meeting. If you cannot personally attend the meeting, you may opt to send your proxy to attend in your behalf. Kindly submit your duly executed proxy form with the undersigned, via email, at acemctacloban2015@gmail.com not later than 5:00 p.m. on July 2, 2025, but preferably, on June 27,2025, to enable your proxy to register in the Zoom Webinar. Attached is a sample proxy form for your reference. [NOTE: Management is not soliciting proxies.]

The Information Statement and Management Report and SEC Form 17-A are available at the Corporation’s website at https://acemctacloban.com

You may contact the undersigned via email at acemctacloban2015@gmail.com through mobile number 09670124954 if you have inquiries/concerns regarding the meeting.

Very truly yours,

(Original signed)
Ma. Lourdes Opinion, MD
Corporate Secretary

 

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Maybe Happy Ending triumphs at Tony Awards with top musical wins

DARREN CRISS accepts the award for Best Performance by an Actor in a Leading Role in a Musical award for Maybe Happy Ending at the 78th Annual Tony Awards. — REUTERS/BRENDAN MCDERMID

NEW YORK — Maybe Happy Ending, a sweet and futuristic story that follows two obsolete helper robots as they navigate isolation, affection, and what it means to be human, was the big musical winner at the Tony Awards on Sunday, capping a record-grossing post-pandemic Broadway theater season.

The show won three big awards including best musical. Darren Criss won his first Tony for best leading actor in a musical for his role as the innocent Oliver, and its director Michael Arden won the award for best director of a musical.

The modern reimagining of Andrew Lloyd Webber’s classic Sunset Blvd. also won big, taking awards for best revival of a musical and for Nicole Scherzinger, who stars as the faded movie star Norma Desmond, won best actress in a musical.

The Pulitzer Prize-winning drama Purpose won the best play award. Written by Branden Jacobs-Jenkins, the play follows a family whose carefully constructed legacy unravels when their youngest son returns home with an unexpected guest, exposing buried secrets and faith-based conflict.

Host Cynthia Erivo, the Wicked film star, opened the show at Radio City Music Hall with a walk to the stage from the dressing room that mimicked actor Tom Francis’ viral post-intermission live outdoor Manhattan stroll as he sings the title song in Sunset Blvd.

Buoyed by a post-pandemic rebound, the 2024-25 season grossed a record $1.89 billion in revenue and drew 14.7 million attendees, the Broadway League said.

Cole Escola won the Tony for best lead actor in a play for his creation Oh, Mary! The show, Mr. Escola’s reimagining of Mary Todd Lincoln’s life and relationship with husband Abraham Lincoln, blends historical satire with absurd camp. The show also earned Sam Pinkleton the Tony for best director of a play.

TV’s Succession star Sarah Snook, who made her Broadway debut this season, won the award for best leading actress in a play for her tour-de-force performance of more than two dozen roles in The Picture of Dorian Gray.

HAMILTON REUNITED
The original cast of Hamilton, including the show’s creator Lin-Manuel Miranda, reunited to perform an electric medley in honor of the musical’s 10th anniversary. The number also served as a reintroduction to Leslie Odom, Jr. as Aaron Burr, a role he will resume in the production later this year for a limited time.

Francis Jue won best actor in a featured role in a play for Yellow Face. He thanked the Asian American actors who came before him and addressed the next generation: “This community sees you and I hope that encourages you to be brave, and to dream and to dream big.”

Kara Young, who was nominated for a Tony in the role of featured actress in a play four years in a row, won for the second year in a row for her role in the 2025 Pulitzer Prize-winning drama Purpose.

Natalie Venetia Belcon won the award for best featured actress in a musical for her role as Cuban singer Omara Portuondo in Buena Vista Social Club.

Jak Malone won the award for best featured actor in a musical for Operation Mincemeat, a fast-paced World War Two spy farce based on a bizarre true British plot to trick the Nazis with a dead body.

Best revival of a play went to Jonathan Spector’s Eureka Day, a sharp comedy about well-meaning parents at a progressive school whose unity cracks open over a vaccine debate.

RISING PRODUCTION COSTS A FACTOR
Alongside the creative highs this year were economic realities plaguing producers and audiences alike.

Premium seats for some productions run upwards from $400, prompting concern that Broadway is increasingly out of reach for casual and younger theater lovers. Even with lotteries and rush ticket programs, demand-driven pricing has become the norm.

Jason Laks, president of The Broadway League, said in a statement that rising costs have affected every facet of production, making it harder and harder to bring live theater to the stage. The Broadway League presents the awards along with the American Theatre Wing.

This season showcased a wide range of voices and perspectives, with many shows being led by Asian American, Black, Middle Eastern, and Hispanic actors and resulting in some historic nominations.

Four-time Tony-winning actor and writer Harvey Fierstein received a special Tony Award for lifetime achievement in the theater. “I dedicate this award to the people in the dark,” he said, “and I offer my most profound thanks to the people in my community.” — Reuters

The Winners Are:

Best Musical: Maybe Happy Ending

Best Play: Purpose

Best Performance by an Actress in a Leading Role in a Musical: Nicole Scherzinger, Sunset Blvd.

Best Performance by an Actor in a Leading Role in a Musical: Darren Criss, Maybe Happy Ending

Best Revival of a Musical: Sunset Blvd.

Best Revival of a Play: Eureka Day

Best Performance by an Actor in a Leading Role in a Play: Cole Escola, Oh, Mary!

Best Performance by an Actress in a Leading Role in a Play: Sarah Snook, The Picture of Dorian Gray

Best Performance by an Actor in a Featured Role in a Play: Francis Jue, Yellow Face

Best Performance by an Actress in a Featured Role in a Play: Kara Young, Purpose

Best Performance by an Actor in a Featured Role in a Musical: Jak Malone, Operation Mincemeat: A New Musical

Best Performance by an Actress in a Featured Role in a Musical: Natalie Venetia Belcon, Buena Vista Social Club

Best Direction of a Play: Sam Pinkleton, Oh, Mary!

Best Direction of a Musical: Michael Arden, Maybe Happy Ending

BTr hikes T-bill award as yields drop on BSP bets

BW FILE PHOTO

THE GOVERNMENT hiked its award of the Treasury bills (T-bills) it offered on Monday as rates dropped across all tenors, with the market pricing in further cuts by the Bangko Sentral ng Pilipinas (BSP) amid below-target inflation last month.

The Bureau of the Treasury (BTr) raised P28.6 billion from the T-bills it auctioned off on Monday, higher than the P25-billion plan.

The offer was nearly four times oversubscribed, with total bids reaching P98.259 billion. However, this was lower than the P116.316 billion in tenders recorded on June 2.

The strong demand prompted the BTr to double its acceptance of noncompetitive bids for the 364-day T-bills to P7.2 billion, it said in a statement.

It added that it made a full award as the average rates for the T-bills were all lower than those fetched at the previous week’s auction.

Broken down, the Treasury borrowed the programmed P8 billion via the 91-day T-bills on Monday as tenders for the tenor reached P20.23 billion. The three-month paper was quoted at an average rate of 5.451%, 0.1 basis point (bp) lower than the 5.452% seen in the previous auction. Tenders accepted by the BTr carried yields of 5.424% to 5.469%.

The government likewise made a full P8-billion award of the 182-day securities it auctioned off as bids amounted to P38.58 billion. The average rate of the six-month T-bill was at 5.524%, 4.1 bps lower than the 5.565% fetched last week, with accepted rates ranging from 5.522% to 5.543%.

Lastly, the Treasury raised P12.6 billion via the 364-day debt papers, higher than the P9-billion plan, as demand for the tenor totaled P39.449 billion. The average rate of the one-year T-bill declined by 2.4 bps to 5.656% from 5.68% previously, with bids accepted having yields of 5.635% to 5.673%.

At the secondary market before Monday’s auction, the 91-, 182-, and 364-day T-bills were quoted at 5.4413%, 5.6097%, and 5.6814%, respectively, based on PHP Bloomberg Valuation Service Reference Rates data provided by the Treasury.

“Treasury bill average auction yields were again slightly lower after the further easing of the latest inflation… in May 2025, which could support a possible BSP rate cut of 25 bps as early as the next rate-setting meeting on June 19,” Rizal Commercial Banking Corp., Chief Economist Michael L. Ricafort said.

The BTr hiked its T-bill award amid strong demand, investors swamping the offer as they sought to lock in still-high yields in anticipation of further monetary easing, Mr. Ricafort added.

“This time, we have a good consumer price index [print], which confirms the BSP can deliver a cut,” a trader likewise said in a text message.

Philippine headline inflation cooled to an over five-year low of 1.3% in May from 1.4% in April and 3.9% in the same month a year ago.

This brought the five-month average to 1.9%, a tad below the BSP’s 2-4% annual target band. The central bank expects inflation to average 2.3% this year.

Last month, BSP Governor Eli M. Remolona, Jr. said the Monetary Board could deliver two more rate cuts this year in “baby steps” or increments of 25 bps, with the next reduction on the table as early as next week’s policy meeting.

The BSP chief said cooling inflation gives them “plenty of room” to ease their policy stance further, although they don’t want to cut “too much” as this could stoke prices anew.

In April, the Monetary Board resumed its rate-cutting cycle with a 25-bp reduction after a surprise pause in its February review, bringing the policy rate to 5.5%.

The central bank has now reduced benchmark borrowing costs by a total of 100 bps since it began easing rates in August last year.

On Tuesday, the government will offer P30 billion in reissued 10-year Treasury bonds (T-bonds) with a remaining life of seven years and three months.

The BTr wants to raise P150 billion from the domestic market this month, or P60 billion through T-bills and P90 billion via T-bonds.

The government borrows from local and foreign sources to help fund its budget deficit, which is capped at P1.54 trillion or 5.3% of gross domestic product this year. — Luisa Maria Jacinta C. Jocson

Allied Care Experts (ACE) Malolos Doctors, Inc. to 2025 hold Annual Stockholders’ Meeting on June 24

NOTICE OF ANNUAL STOCKHOLDERS’ MEETING

Dear Stockholders,

Please be informed that the Annual Stockholders’ Meeting of Allied Care Experts (ACE) Malolos Doctors, Inc. (“ACE Malolos Doctors”) will be held on June 24, 2025 (Tuesday) at 8:00 o’clock in the morning, hybrid, via face to face at the 10th Floor, ACE Malolos Doctors Multi-Purpose Hall, Capitol View Park, Barangay Bulihan, Malolos, Bulacan and via Zoom.

For those who will be attending via Zoom, please register on or before June 23, 2025 5:00 p.m., through the following link: https://us02web.zoom.us/meeting/register/IatK7bEkT6iTiiYx-sNyDA

The link will provide you the process for the registration. You will receive a confirmation email once you have successfully registered in the online platform, including the details and procedures for the conduct of the meeting. Voting will be done via the online tool which you can access once you have logged in to the meeting; voting in the election of directors may also be done in absentia through the above link.

The Agenda:

  1. Call to Order
  2. Invocation
  3. Determination of Quorum
  4. Welcome Message from the Chairman of the Board
  5. Reading and Approval of the Minutes of the Y2024 Annual Stockholders’ Meeting
  6. Audited Financial Report for Y2024
  7. President’s Report
  8. Ratification of the Acts and Proceedings of the Board of Directors, Officers, and Management of the Corporation
  9. Election of the Board of Directors Y2025-2026
  10. Appointment of External Auditor Y2025
  11. Other Matters
  12. Adjournment

Only stockholders of record at the close of business on May 24, 2025, Saturday, shall be entitled to notice of and to vote at the meeting. If you cannot personally attend the meeting, you may opt to send your proxy to attend in your behalf. Kindly submit your proxy form with the undersigned, via email, at ace.malolos.doctors@gmail.com not later than 5:00 p.m. on June 23, 2025 to enable your proxy to register in the Zoom Webinar. Attached is a sample proxy form for your reference. [NOTE: Management is not soliciting proxies.]

The meeting shall be recorded (visual and audio) for future reference.

The Information Statement and Management Report and SEC Form 17-A are available at the Corporation’s website www.acemalolosdoctors.com

You may contact the undersigned via email at ace.malolos.doctors@gmail.com or call 044-8167698 if you have inquiries/concerns regarding the meeting.

Very truly yours,

(Original signed)
LUZCIELO M. ROXAS, MD
Corporate Secretary

 

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Hotel101 says Madrid project named official partner for F1 Spanish Grand Prix

HOTEL101 MADRID — HOTEL101 GLOBAL PTE. LTD.

HOTEL101 Global Pte. Ltd. said its project in Madrid has been named the official hotel partner for the Formula 1 (F1) Spanish Grand Prix from 2026 to 2035, under a deal with global sports hospitality company MATCH Hospitality.

Hotel101-Madrid signed a 10-year agreement with MATCH Hospitality on June 6, Hotel101 said in an e-mail statement on Monday. MATCH Hospitality is the official hospitality provider for the Spanish Grand Prix.

Under the agreement, Hotel101-Madrid and MATCH Hospitality will deliver accommodation experiences for attendees of the 2026 F1 event and beyond. The two parties will work to ensure seamless integration of premium lodging services with the event’s VIP and hospitality offerings.

MATCH Hospitality is known for managing hospitality programs for global sporting events such as the FIFA World Cups and the F1 British Grand Prix. It has a €400-million investment in the Spanish Grand Prix.

“This partnership marks a significant milestone in our mission to establish Hotel101 as a leading global hospitality brand,” Hotel101 Global Chief Executive Officer Hannah Yulo-Luccini said.

Construction of the 680-room Hotel101-Madrid is set for completion in the fourth quarter, in time for the inaugural Madrid Grand Prix in June 2026. The property is located on a 6,593-square-meter site in Valdebebas, Madrid.

The hotel’s amenities include an all-day restaurant, pool, gym, children’s playground, 24/7 reception, business center, function rooms, and a proprietary app for seamless guest experiences — from digital check-in to personalized service requests.

Hotel101 Global is slated to list on the Nasdaq Stock Exchange this month, after the United States Securities and Exchange Commission declared its Form F-4 effective on June 2. It is the hotel subsidiary of Philippine-listed investment holding company DoubleDragon Corp. (DD).

Upon listing, the combined company will operate as Hotel101 Global Holdings Corp. and trade under the ticker symbol “HBNB.”

Once listed, Hotel101 will become the first Filipino-owned company to be listed and traded on Nasdaq.

DD shares fell by 4.38% or P0.60 to close at P13.10 each on Monday. — Revin Mikhael D. Ochave

Stranger Things play wins Tony Awards, setting stage for TV series finale

NEW YORK — With bloody body contortions, booming blasts and brooding high school angst, Stranger Things: The First Shadow, based on the 12-time Emmy-winning Netflix science fiction series Stranger Things, took home Tony Awards on Sunday for best scenic design, lighting design and sound design of a play along with a special award for its illusions and technical effects.

Miriam Buether, the scenic designer for Stranger Things: The First Shadow reflected on the journey of creating frightening moments on stage.

“We love scaring people,” she said backstage at the ceremony hosted by Wicked film star Cynthia Erivo.

The play, directed by Stephen Daldry, was nominated for five Tony Awards in total, including best performance by an actor in a leading role in a play for Louis McCartney for his performance as Henry Creel, the younger version of the main antagonist of the Stranger Things series who is later called Vecna.

Stranger Things: First Shadow is one of the expansions of the Stranger Things universe created by brothers Matt and Ross Duffer, who announced the launch of Upside Down Pictures in 2022, marking an overall deal with Netflix that will also include a live-action Stranger Things spin-off series.

The series has spawned video games, cosplay, in-person immersive experiences and merchandise licensing deals, including the January 2025 deal with the company behind the popular Squishmallow plush toys.

Last month, at Netflix’s globally livestreamed fan event called Tudum Live, it was announced that the Stranger Things TV series would have a fifth and final season split into three parts, with part one on Nov. 26, part two on Dec. 25, and the series finale on Dec. 31.

The final season of Stranger Things was delayed by dual Hollywood strikes in 2023.

Stranger Things, the story of a group of adolescent friends in rural Indiana in the 1980s who battle creatures from an alternate dimension called the “Upside Down,” premiered on Netflix in 2016 and became a smash hit created by the Duffer brothers for the streaming platform.

The play, produced by the Duffer brothers, takes audiences back in time to 1959, two decades before the period explored in the TV show.

Jim Hopper and Joyce Maldonado — adult characters in the TV show — are seen as high school classmates with normal teen concerns about cars and classes until a new student named Henry arrives.

Henry Creel is an odd and troubled boy who holds the future of the small town of Hawkins, Indiana in his hands.

The New York cast includes Harlem actor Burke Swanson as Jim Hopper, Shameless actor Alison Jaye as Joyce Maldonado and Mr. McCartney as Henry Creel, who reprised his role after being in the London production.

The monster-filled play debuted in London in 2023 at the Phoenix Theatre and made its New York Broadway debut in March 2025 at the Marquis Theatre. — Reuters

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