ICTSI Pakistan opens rail service

July 16, 2019 | 12:02 am

A SUBSIDIARY of International Container Terminal Services, Inc. (ICTSI) on Monday said it launched a dedicated rail cargo service connecting Karachi and Lahore in Pakistan.

In a statement, Pakistan International Container Terminal (PICT) said the cargo rail service will “move goods faster and at a significantly lower cost to upcountry markets, benefiting major industries” such as agriculture, textile, fertilizer, sports goods, electronics and fast-moving consumer goods.

PICT said it is now the only terminal at the Port of Karachi that has its own internal rail connection.

“PICT hopes to be the container terminal of choice for trade at the Karachi Port… This rail service provides us with more efficiency and flexibility. As an alternative, rail transport, this reduces the cost of doing business for clients. At the same time, this helps alleviate congestion on the city roads,” Khurram Khan, PICT chief executive officer, said.

ICTSI acquired a majority stake in PICT in October 2012. PICT holds a 21-year concession for the construction, development, operations and management of a common user container terminal at Karachi Port for a period of 21 years, which started in 2002.

Pinball wizard

July 16, 2019 | 12:01 am

Senran Kagura: Peach Ball
Nintendo Switch

UNLESS GAMERS have been living under a rock all this time, they would most definitely be familiar with the Senran Kagura series. The arrival of the Nintendo 3DS handheld console at the turn of the decade gave Marvelous the impetus it needed to bring Senran Kagura: Skirting Shadows and Senran Kagura Burst to the attention of those on the lookout for actioners featuring no small measure of fanservice. The newly formed Japan-based publisher, out to make an impact as an offshoot of the merger of industry players Marvelous Entertainment, Livewire, and AQ Interactive, felt it had in its hands a solid franchise featuring appealing characters, deep and unpredictable gameplay, and nuanced storylines designed to transcend platforms.

Marvelous was right, and it didn’t have to wait long to see its gamble pay off. Senran Kagura: Skirting Shadows and Senran Kagura Burst were certified hits, leading to more releases. And in just eight years, it has seen the takeup of Senran Kagura videogames — 11 to date, two spinoffs included — reach the seven-figure mark. And so winsome are the principal protagonists that they’ve managed to cross over as stars of manga and anime adaptations. The cast has grown significantly over time, feeding on the overarching narrative of female shinobi-in-training from the Hanzo National Academy, the rival Hebijo Clandestine Girls’ Academy, the elite Gessen Girls’ Academy, and the rogue Crimson Squad aiming to become the best in the art of ninjitsu.

In growing the Senran Kagura franchise, Marvelous has been predisposed to pushing the envelope, not just in terms of having titles provide naughty visuals and dialogue, but in occasionally branching out of the main story to have familiar faces grace unusual settings. Senran Kagura: New Wave, released on iOS and Android platforms in 2012, focused on card battles. Senran Kagura: Bon Appétit, which made its way to the PlayStation Vita two years later, was about rhythm cooking. Senran Kagura: Peach Beach Splash, out on the PS4 in 2017 and on Windows shortly after, made use of water guns as shooters. And, in its newest offering for the Nintendo Switch, gamers are enjoined to operate pinball machines.

In terms of content and choice, the just-released Senran Kagura: Peach Ball offers much less than its predecessors in the Senran Kagura series. The Story Mode has Yomi, Asuka, Yumi, Ryona, and Murasaki coming into contact with Beastall, Haruka’s latest concoction, while inside the rest room of the Honey Arcade and turning into animals as a result. Gamers are then tasked to help them turn back into their old selves before they lose their memories. The key is for them to breathe in the antidote contained in a Peach Ball; only when it manages to reach, as the game itself notes, “the proper vibrational force” will it produce a mist that “can restore their humanity.”

So how should gamers meet the stated objective? Well, since the damsels in distress are inside the arcade, Senran Kagura: Peach Ball makes the answer clear. They each need to be coaxed into going on top of a pinball machine, after which playing it and continually directing the Peach Balls to their bodies will trigger the release of the mist. The premise is ridiculous, but par for the course in a Senran Kagura offering. So are the raunchy, if witty, dialogue, exaggerated and enhanced frontal assets of the characters, and creative parameters governing their increasing state of undress. Indeed, a proper rescue sees them devoid of clothing, albeit with their private parts strategically covered.

And therein lies the rub. As the latest from a franchise that has claimed a loyal following precisely because of its unique capacity to lace risqué material with humor, Senran Kagura: Peach Ball does not disappoint. On the flipside, it could very well have thrived even absent all the suggestive content. As a straight-up pinball game, it’s nothing short of outstanding. Various themes augment the two tables available. More importantly, the layouts are superb; they’re tricked out logically, and the risk-reward interplay is such that there is merit in going for mini-games and specified targets.

The Story Mode should be the way to go for most gamers, who start with choosing from the five aforementioned characters, save his or her choice, and then direct his or her choice to save the rest. That said, Senran Kagura: Peach Ball offers Free Play, which allows for the sidestepping of the narrative in favor of all-out pinball fun. And fun does come in spades, with table physics decidedly favoring the player, not to mention encouraging its tilting. Regardless of choice, the currency gained from the experience can then be used to purchase in-game bonuses; the sheer number of unlockables should keep completionists coming back for more action.

By and large, Senran Kagura: Peach Ball makes no pretensions about its intellectual property roots and intent to thrill, but not to the point of being exploitative. Nonetheless, it remains one of the most enthralling pinball games in the market. Admittedly, it doesn’t run at 60 frames per second on the Switch. Then again, it doesn’t need to; it features ultra-smooth gameplay, vibrant colors, striking artwork, enveloping music, a topnotch Japanese voice track backstopped by precise English subtitles, an appropriately light story, and, best of all, a compelling interface. Controls are precise and high-definition rumble is supported, providing gamers with physical feedback that ups the ante on the action.

There are titles that highlight suggestive subject matter. There are games that feature loads of arcade entertainment. And then there is Senran Kagura: Peach Ball. Enough said.

THE GOOD:

• Stays true to intellectual property roots

• Outstanding gameplay mechanics

• Superb production values

THE BAD:

• Relatively short Story Mode

• Sensitive subject matter

• May be an acquired taste

RATING: 8.5/10

POSTSCRIPT: Senran Kagura Burst Re:Newal — Censorship is, on principle, a no-no, so the decision of Sony to limit the content carried by Senran Kagura Burst Re:Newal (which made its way to store shelves early this year) vis-à-vis the original release cannot but be viewed with disappointment. The strict guidelines imposed by the console manufacturer on games licensed for the PlayStation 4 have, in this particular case, compelled publisher Marvelous to leave out an offering (present in the 2011 version of Senran Kagura Burst as well as in its iteration for the personal computer) that enabled gamers to better acquaint themselves with characters in the dressing room.

The good news is that the absence of the feature in no way discounts the true value of Senran Kagura Burst Re:Newal. At heart, it’s a labor of love that updates the title responsible for getting the Senran Kagura series off the ground. Everything about it is improved, and drastically so that it might as well be treated as a new release. From the visuals to the audio tracks to the gameplay itself, it trumps its source material. And no wonder; the latter came out on the Nintendo 3DS, a previous-generation handheld device far behind the powerhouse PS4 Pro in hardware specifications.

Armed with the processing capabilities of the platform on which the update is to run, Marvelous has cut no corners. And the result is remarkable; at the very least, Senran Kagura Burst Re:Newal manages to provide the same come-ons the current batch of gamers are used to. Which is to say those unfamiliar with the Senran Kagura series can do a lot worse than use it as a starting point. Parenthetically, the transition to the sequels and the spinoffs become less jarring. The interface has been made to approximate that of Senran Kagura Estival Versus; instead of the outright hacking and slashing that defined combat in Senran Kagura Burst on the 3DS, no small measure of strategy is required to progress in the remake.

In sum, Senran Kagura Burst Re:Newal earns its $39.99 price tag. Even those who already finished the original on the 3DS will appreciate the upgrades and additional bells and whistles. Polished and packing a punch, it can lay claim to being the best from the Senran Kagura series to date. (9/10)

Freia showroom opens

July 16, 2019 | 12:01 am

PROSPECTIVE buyers of the beachfront condominium Freia can take a sneak peek at the laid-back lifestyle it offers at the Freia showroom in Nasugbu, Batangas.

Freia is set to rise within the Pico de Loro Cove at Hamilo Coast.

At the showroom, buyers can catch a glimpse of Freia’s future grand lobby as designed by Budji+Royal. Also ready for viewing is a two-bedroom seaside view unit designed by Budji+Royal, and a 2-bedroom mountain view showcasing a furnished deliverable unit.

“Distinguished by its open-plan concept, the living spaces seamlessly flow into each other, providing its resident ease in moving around… The color palette used echoes a tranquil environment. The beige flooring reminds one of the soft sands of Hamilo Coast, while the rest of the interiors are awash with the delicate hues of taupe, white, and blues, lending a fresh tropical vibe,” the developer said.

Freia offers 214 superior two-bedroom units and nine (9) bi-level three-bedroom penthouse units. It will be the only condominium development in Pico de Loro Cove with its own amenities such as outdoor adult and kiddie pools, a lounge deck, function rooms, and pocket gardens.

Jefferies names CLSA’s Slone as Asia chairman

July 16, 2019 | 12:01 am

JEFFERIES GROUP LLC continued to capitalize on the internal woes of CLSA by adding the Asian brokerage’s former long-time Chief Executive Jonathan Slone to a 50-plus regional hiring spree that has already included top-ranked analyst Christopher Wood.

Investment banking and broking firm Jefferies said on Sunday that it appointed Slone as chairman of Asia, a role that will focus on the financial firm’s major relationships for investment banking and trading throughout the region.

Earlier this year, Slone, Wood, and a host of other CLSA bankers, including its Chairman Tang Zhenyi, left the brokerage, which was bought by Chinese brokerage CITIC Securities in 2013 for $1.3 billion.

The resignations resulted from CITIC’s efforts to revamp CLSA’s daily operations and differences over strategy, people with direct knowledge of the matter had said earlier.

Prior to joining Jefferies, Slone spent over three decades at CLSA, where he was their longstanding chairman and CEO and oversaw CLSA’s global operations of broking, investment banking, asset management, research and sales.

Other former CLSA employees who have joined Jefferies include Wood, a top-ranked equity strategist in Asia during the last two decades, as its global head of equity strategy, and Desh Peramunetilleke as head of microstrategy product.

Slone, Wood and Peramunetilleke will be based in Hong Kong, Jefferies said.

Jefferies has also hired well-known Australian banking analyst Brian Johnson from rival CLSA, adding to more than two dozen others who have been poached from the Asia-focused broker, Australian media reported last month.

Jefferies’ stepped-up Asia expansion comes at a time when some investment banks are looking to reduce costs in the cut-throat competitive equities sales and trading, and research businesses in the region.

The firm has recently hired 54 professionals across sales, trading, research and investment banking in Australia, Japan and Hong Kong, it said in a statement.

“The significant hires in recent weeks across our firm’s Asian platform represent the next stage of growth and commitment to our firm’s continued global expansion,” Jefferies’ CEO Rich Handler and President Brian Friedman said. — Reuters

Greenergy ends MoA with South Korean group

July 16, 2019 | 12:01 am

GREENERGY Holdings, Inc. has terminated its memorandum of agreement (MoA) with a Korean group that was supposed to develop for the listed company a number of ventures, including a transport hub and “smart” property projects.

The holding firm, led by businessman Antonio L. Tiu, told the stock exchange that the MoA was off because of the failure of TheBizlink Co. Ltd. and its local unit TheBizlink Philippines, Inc. to comply with its obligation within the prescribed period.

Greenergy said it had received a letter from the TheBizlink group saying that it was “still in the process of negotiating with several financial companies and investors for the initial investment in the project contemplated” in the MoA dated Jan. 30, 2019.

Greenergy said TheBizlink was also requesting for “additional period of time to conduct its due diligence.”

In reply, Greenergy sent a letter expressing its gratitude and appreciation for the support, but has decided to terminate the agreement.

Under the MoA, TheBizlink group was supposed to develop a transport hub, smart-farming agriculture area, smart-city commercial and/or mixed-use developments and other related developments.

Within 90 days from the execution of the agreement, TheBizlink was to provide Greenergy a funding facility in the initial amount $350 million provided that the legal, financial and technical due diligence on the project to be conducted by the group does not result in any material adverse findings involving the project.

On Monday, shares in Greenergy fell by 7.75% to close at P2.38 each. — Victor V. Saulon

How PSEi member stocks performed — July 15, 2019

July 16, 2019 | 12:00 am

Here’s a quick glance at how PSEi stocks fared on Monday, July 15, 2019.

Domestic market capitalization of select stock exchanges in Asia Pacific (June 2019)

July 16, 2019 | 12:00 am

Gov’t drafting executive order to address high shipping costs

July 15, 2019 | 10:44 pm

THE government is drafting an executive order (EO) for the Palace addressing high shipping costs, Trade Secretary Ramon M. Lopez said.

In his speech at the 2nd Logistics Services Philippines Conference on Monday, Mr. Lopez said he plans to reconvene the technical working group that issued a joint administrative order (JAO) on the matter to work on the EO.

Mr. Lopez said measures require more “teeth,” with the EO expected to “really allow us to implement with greater force the provisions of the JAO.”

Mr. Lopez said that the target date for a draft is one month.

In a news conference at the same event, Mr. Lopez said, “The executive order will specify… the agency that will really be accountable for… the setting of shipping rates.”

The JAO, issued by Departments of Trade and Industry (DTI), Transportation (DoTr) and Finance (DoF), sought to regulate shipping costs and introduce port reforms to address inefficiencies.

The JAO will be replaced by the EO upon its effectivity.

The JAO is awaiting the signature of the DoF. Mr. Lopez said the DoF is legal issues such as which agencies will be responsible for enforcing certain provisions, and international shipping rates.

“On port congestion, wala nang issue don dahil BoC (Bureau of Customs), malinaw kanila iyon at nagawan na nga nila ng solusyon (there’s no issue on port congestion because it’s clear that the BoC has to take the lead there and they have come up with solutions), so that’s been addressed. So we’re now looking into the area (of) shipping rates.

Mr. Lopez said rates are freely set at the moment, and the government is looking at how , they can be managed to avoid overcharging.

“Kaya nga maingat kami dun sa pag-issue lang nung provision (that’s why we are careful in issuing the provisions), that particular part on the international shipping rates, ano ang (what are) allowable, and ano ang (what are the) parameters.”

According to a study conducted in 2017 by the World Bank, “An Assessment of Logistics Performance of Manufacturing Firms in the Philippines,” logistics costs as a percentage of sales were estimated at 27.16%, compared with Indonesia’s 21.4%, Vietnam’s 16.3% and Thailand’s 11.11%.

Mr. Lopez said the target is to lower the cost ratio to at least 20% by the end of year. — Katrina T. Mina

E-cigarette industry given until October to register with FDA

July 15, 2019 | 10:43 pm

E-CIGARETTE and vaporizer (vape) businesses will have until October to register their establishments and products before the Food and Drug Administration (FDA) or face possible seizure of their goods.

Speaking to reporters, FDA Officer-in-Charge Rolando Enrique D. Domingo said that businesses who currently involved in the sale, distribution, manufacture, import, and export of Electronic Nicotine and Non-nicotine Devices, the government acronym for which is END/ENNDS, will have to register with the FDA in order to obtain a license to operate. The agency will be giving these businesses a three-month transition period to do so since the Department of Health (DoH) issued DoH Administrative Order (AO) 2019-0007 last week.

“After the grace period, kailangan na ’yung nagtitinda, nagma-manufacture, nag-i-import, at nagtitinda ng retail ay may license to operate at kailangan ang products nila i-register (those who sell, manufacture, import, and sell at retail need to have a license to operate and also have their products registered),” he said.

The DoH AO 2019-0007 provides guidelines on the conduct of business for the ENDS/ENNDS industry. According to the guidelines, the sale of nicotine shots and concentrates is prohibited.

If businesses fail to follow the AO, Mr. Domingo said that the FDA will issue warnings ordering the establishments to comply. If these businesses continue to be non-compliant despite the warning and advisory, the FDA will issue a seizure order to remove all their products from the market.

As part of the AO, the DoH will also release rules that will govern refills for ENDS/ENNDS products. Mr. Domingo, who is also a Health Undersecretary, said, “Within the next three months we are going to have a complete list. What we don’t want are flavors that appeal to children.”

In a separate statement, the Health department said that there are studies affirming that e-liquids used for ENDS/ENNDS have some ingredients that put users at risk. The Health department also rejected the argument that ENDS/ENNDS products are a healthier alternative to tobacco products since more long-term studies need to be produced in order to prove these claims.

“The Department cautions the public regarding harmful chemicals in these devices such as nicotine, ultra-fine particles, carcinogens, heavy metals, and volatile organic compounds. Results generated from peer-reviewed studies show that e-cig juices contain high levels of addictive nicotine, which can result in acute or even fatal poisoning through ingestion and other means, “ DoH said in a statement on Monday. — Gillian M. Cortez

CoA cites Agriculture dep’t over P4.88B in unliquidated fund transfers

July 15, 2019 | 10:43 pm

THE Commission on Audit (CoA) said the Department of Agriculture (DA) had about P4.88 billion worth of unliquidated fund transfers to various agencies and nongovernment organizations in charge of implementing several projects for the department.

According to the 2018 CoA audit report, various offices of the DA had a total of P5.71 billion in fund transfers to implementing agencies and NGOs.

“Audit of 16 DA offices showed that funds transferred to IAs (implementing agencies) and NGOs during the year for the implementation of DA projects amounted to P5,714,851,478.71. Of the said amount, P4,883,115,478.07 or 85.45% of the funds transferred were not liquidated,” the state auditor said.

CoA added that P16.6 billion of the prior year’s balance of P23.7 billion remain unliquidated — or lack supporting documents showing how the money was spent.

CoA recommended that the DA send follow-up demand letters to the concerned implementing agencies and NGOs.

“(The Management agreed to instruct all DA offices to) adopt an effective monitoring scheme to enforce submission of liquidation reports of the concerned NGOs/IAs, as well as the progress reports,” CoA said.

It added that DA offices concerned should “conduct ocular inspections or visits to the available addresses or location of the grantees to validate the implementation of their projects and validate the existence and legality of concerned NGOs.”

Asked to comment, Agriculture Secretary Emmanuel F. Piñol said that he has yet to see the report.

“That would not be unusual though because we do transfer funds to other agencies, including LGUs (local government units). There is a certain period set for the liquidation of the transferred funds,” Mr. Piñol said in a text message to BusinessWorld. — Vince Angelo C. Ferreras

NEDA subcommittee approves doubling in Mindanao rail cost

July 15, 2019 | 10:42 pm

THE National Economic and Development Authority’s board said its Investment Coordination Committee-Cabinet Committee (ICC-CabCom) approved major upgrades in the estimated cost and scope of the ongoing Mindanao rail and Metro Manila bridge projects.

In a statement, NEDA said the authorized cost of the Mindanao Railway Project Phase 1-Tagum-Davao-Digos Segment (MRP-TDD) has been raised to P82.9 billion, more than doubling the 2017 estimate of P35.9 billion.

It said the new authorized cost covers additional structural and construction spending and the construction of an additional Davao Satellite Depot.

The other new costing is for the Metro Manila Priority Bridges Seismic Improvement Project is P7.9 billion from P4.3 billion. NEDA said the cost changes are due to the use of different technology for improvements to the Guadalupe Bridge across the Pasig River, the temporary detour bridges, and additional work shifts to ensure a shorter construction period.

The bridge project has also been granted an extension of one year and eight months, to August 2023, including a one-year defects liability period.

The ICC-CabCom also cleared the inclusion of the project management consultant at a cost of P14.39 billion, inclusive of VAT and contingencies, in the scope of works for the Philippine National Railways South Long Haul Project.

“We see changes in scope and cost as opportunities to optimize the project components and update the estimates. The government aims to speed up implementation while ensuring quality,” said Socioeconomic Planning Secretary Ernesto M. Pernia, who co-chaired the meeting with Finance Secretary Carlos G. Dominguez III.

LTFRB firm on June 2020 deadline to complete jeepney modernization

July 15, 2019 | 10:42 pm

THE government is intent on completing the jeepney fleet modernization program as scheduled, after the initial stages of the project started in 2017 resulted in only 4,000 modernized jeepneys taking to the roads.

The Land Transportation Franchising and Regulatory Board (LTFRB) said yesterday that the modernized jeepneys that are operational according to its latest count is well below the 170,000 units the government had targeted for modernization by mid-2020.

“Ang deadliest deadline nyan, June 30, 2020. Mawawala na lahat ng mausok at bulok na sasakyan, jeep, basically (The “deadliest deadline” for jeepney modernization is June 30, 2020. By then, all smoke-belching and dilapidated jeepneys will be phased out),” LTFRB Board Member Ronaldo F. Corpuz said in a briefing yesterday.

The government launched the PUV Modernization Program in June 2017, requiring operators to decommission units of a certain age, for replacement with modernized units.

For jeepneys, the requirement is to phase out units that are 15 years or older within three years from the launch of the PUV Modernization program, or by June 2020.

But two years into its implementation, some transport groups are still not on board with the government’s modernization initiative.

Yesterday, the Alliance of Concerned Transport Organizations (ACTO) and Pinagkaisang Samahan ng mga Tsuper at Operator Nationwide (PISTON) staged protests against the PUV Modernization Program, citing difficulties experienced by the drivers and operators in complying with the terms.

They asked the government to review the modernization scheme and withdraw plans to phase out older jeepney units that have been properly maintained and roadworthy.

The LTFRB said it is open to dialogue to discuss any concerns transport groups may have in the process of fleet modernization, but will remain firm on the new standards for Public Utility Vehicles (PUVs).

“Willing naman kami makinig… Doon sa nagsasabi na sumasang-ayon naman sila, subalit may mga hindi sila gusto sa proseso, pwede naman namin silang pakinggan doon (We’re willing to listen. Those saying they agree with the PUV Modernization Program but have questions on parts of the process, we will listen to them),” LTFRB Technical Division Head Joel D. Bolano said.

The agency also said it believes the remaining time for the June deadline is sufficient to achieve refleeting.

“Ugali nating mga Pilipino, kung kelan last hour, tsaka bibira (Filipinos are in the habit of doing things at the last hour),” Mr. Corpuz said. — Denise A. Valdez