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Gov’t readies P13.5-B 1st tranche of Marawi bonds

By Elijah Joseph C. Tubayan
Reporter
THE GOVERNMENT will sell an initial P13.5 billion worth of retail bonds to domestic investors to help finance reconstruction and rehabilitation of Marawi City, the Department of Finance (DoF) said in a statement on Tuesday.
The DoF said funds to be raised will cover the P10 billion allocated this year under the national budget for the Bangon Marawi Comprehensive Rehabilitation and Recovery Program (BMCRRP) and another P3.5 billion for 2019.
The DoF said that the succeeding Marawi bond offers would depend on financing requirements.
“As we need money later on, we will issue more bonds,” Finance Secretary Carlos G. Dominguez III was quoted as saying.
Besides the P13.5-billion ($241-million) first tranche of Marawi bonds and the P10 billion ($200 million) budget allocation this year, the estimated $541-million total funding for projects under the Bangon Marawi program includes $100 million (P5.44 billion) worth of an Asian Development Bank emergency assistance loan.
The DoF also cited a funding gap of $64 million, which may be raised through a pledging session with development partners “sometime in November.”
Japan has already committed to provide financing support for the rehabilitation program, after inking a ¥2-billion grant agreement, while the United States, Spain, Australia, and the World Bank, have expressed interest.
Asked for details, Finance Assistant Secretary Antonio Joselito G. Lambino II said via text: “The Bureau of the Treasury is working closely with the Bangon Marawi Task Force on several fronts, including approval for the overall rehabilitation plan, securing commitments from our ODA (official development assistance) partners, and an information campaign to enjoin everyone’s support for this endeavor.”
“In terms of tenor, we are looking at three to five years to match the implementation period. The rate will take into account market conditions and the date of issue is forthcoming.”
TIMING WATCHED
Asked whether the retail bonds could be sold within the year, National Treasurer Rosalia V. De Leon told reporters separately after the auction of government securities yesterday: “We are looking at that horizon, but we cannot… really exactly tell.”
She also noted that overseas Filipinos can participate in the Marawi bond offer through the bond online system.
The DoF has said that the Marawi bond offer may total to P40-60 billion in a span of five years.
Marawi city was devastated after a five-month battle between government forces and Islamic State-inspired militants that ended in October last year.
The DoF also noted that the World Bank plans to pool contributions from other development partners into a proposed Bangon Marawi Multi-Donor Trust Fund.
The government has asked the Washington-based multilateral lender to set up a Project Monitoring Unit under the Task Force Bangon Marawi to monitor the status of programs and projects identified in the BMCRRP.
The Finance department noted that it will also convene a follow-up interagency technical working group meeting to finalize the list of projects under the BMCRRP and to identify policy and implementation concerns.

Ayala Land net income rises 15% in Q3

AYALA LAND, Inc. (ALI) registered a 15% profit increase in the third quarter of 2018, lifted by the strong demand for residential properties complemented by the expansion of its commercial leasing unit.
The listed property developer reported a net income of P7.2 billion in the three months ending September, higher than the P6.3 billion it booked in the same period a year ago. This pushed its net income 17% higher to P20.78 billion for the first three quarters of 2018.
Revenues for the third quarter improved by 14% to P39.3 billion, bringing the nine-month figure to P119.7 billion, 21% higher year-on-year.
“We sustained our growth momentum in the third quarter as residential demand remained strong and our commercial assets registered double-digit increase in revenues,” ALI President and Chief Executive Officer Bernard Vincent O. Dy said in a statement.
ALI’s property development segment saw its revenues climb to P82.8 billion, 23% higher year-on-year. Sales from its five residential brands, namely Ayala Land Premier, Alveo, Avida, Amaia, and Bellavita, in addition to its Malaysian unit MCT BHd contributed P70.3 billion, 26% higher than its P55.7-billion contribution in the same period a year ago.
Revenues from the sale of office spaces stood at P6.9 billion, while sales of commercial and industrial lots rose 16% to P5.6 billion.
The company’s reservation sales grew by 15% to P108.4 billion, indicating an average monthly take-up of P12 billion. At the same time, ALI launched P81.8 billion worth of residential and office for sale projects for the period.
ALI’s commercial leasing segment, which includes shopping centers, offices, hotels and resorts, expanded its revenues by 14% to P25.3 billion.
The shopping mall unit alone accounted for P14.3 billion, 13% higher year-on-year due to the strong performance of Greenbelt in Makati, UP Town Center in Quezon City, and the opening of Ayala Malls Circuit Makati. The company also benefited from the higher contributions of its newer malls like Ayala Malls The 30th, Ayala Malls Vertis North, and Ayala Malls Cloverleaf.
By end-September, ALI had a total of 1.83 million square meters (sq.m.) of gross leasable space under its shopping center portfolio.
For its office leasing segment, revenues inched up 13% to P5.4 billion, boosted by stable occupancy rates in its corporate centers in Vertis North in Quezon City, Circuit Makati, and The 30th in Pasig. ALI’s total office leasable space reached 1.03 million sq.m. by the end of the third quarter.
Meanwhile, the hotels and resorts business exhibited a 17% increase in revenues to P5.7 billion, lifted by higher occupancy and average room rates at Seda Vertis North in Quezon City and Seda Capitol Center in Bacolod, as well the performance of El Nido Resorts. The company added 209 rooms in the third quarter, bringing its total portfolio to 2,618 rooms.
ALI said it spent P77.9 billion worth of capital expenditures in the first three quarters, out of the P110.8 billion it committed to spend for the entire year.
The company’s robust spending is in line with its P40-billion net income target by 2020, with the residential and leasing segments contributing P20 billion each.
Shares in ALI dropped 5% or P2 to close at P38 each at the stock exchange on Tuesday. — Arra B. Francia

Globe profit up 3% in Q3

GLOBE TELECOM, Inc. reported its net income grew 3% during the third quarter to P5.02 billion, driven by an 11% increase in revenues from its expanding customer base.
In a regulatory filing on Tuesday, the telecommunications giant said third quarter revenues stood at P37.53 billion as the number of its mobile subscribers jumped 10% year-on-year to 65.4 million as of end-September and home broadband subscribers by 23% to 1.5 million.
For the nine-month period, Globe’s net income rose 17% to P15.15 billion, from the P12.99 billion recorded a year ago. Core net income, which eliminates non-recurring charges, one-time gains, foreign exchange gains and mark-to-market charges, was up 32% to P14.8 billion for the January to September period.
Consolidated service revenues increased 9% to P103.3 billion in the first nine months of 2018, “fueled by the surging data revenue growth across all segments.”
“The sustained growth momentum was fueled by better-than-expected data-related revenue growth across all business segments. This performance was boosted by the most pervasive 4G/LTE network, supported by the Company’s superior content offerings, through its partnerships with industry leaders and global content providers of music, lifestyle, video and eSports,” Globe said in a statement.
For the first nine months of the year, mobile revenues rose 8% to P79.1 billion, mainly driven by Globe Prepaid and TM.
Globe said its home broadband grew by 15% to P13.5 billion, while its corporate data business increased 11% to P8.4 billion. This offset the 16% drop in fixed-line voice revenues to P7.4 billion.
Total operating costs and subsidy, including depreciation charges, was 3% higher at P76.6 billion “as the increase in depreciation charges were partially offset by the decline in subsidy, interconnect costs, and rent expenses.”
Globe spent P32.5 billion in capital expenditures for the first nine months of 2018, 11% lower than the same period last year. The bulk or 78% of capex was allotted for its data-related services.
“We will remain aggressive with our network investments, which is now nearly 32% of our revenues to be able to support the growing demand for bandwidth-intensive applications and content,” Globe President and Chief Executive Officer Ernest L. Cu was quoted as saying in a statement. — DAV

Robinsons Land earnings surge in 3rd quarter

ROBINSONS Land Corp. (RLC) almost doubled its attributable profit in the third quarter of 2018, driven by the expansion of its mall network coupled with the higher sales from its residential unit.
In a regulatory filing, the Gokongwei-led property developer said net income attributable to the parent grew by 96% to P3.22 billion in the July to September period, compared to its P1.65-billion earnings in the same period a year ago. Revenues also went up 56% to P8.75 billion for the quarter.
On a nine-month basis, the listed firm’s net income climbed 43% to P6.55 billion versus P4.57 billion by end-September of 2018. This followed a 31% uptick in revenues to P21.8 billion for the period.
“The strong earnings is a result of the strategic initiatives we initiated to respond to the market and the creation of new revenue streams for the company,” RLC President and Chief Operating Officer Frederick L. Go said in a statement.
RLC operates five business segments, namely commercial centers, residential, office buildings, hotels, and infrastructure and integrated development.
Revenues under the mall division rose by 13% to P8.8 billion, as the company hit the 50th mark with the opening of Robinsons Place Tuguegarao last July. This brought RLC’s total mall leasable space to 1.4 million square meters (sq.m.).
RLC said it benefited from the influx of overseas buyers during the period, alongside efforts to improve product development and its sales force. Realized revenues from the segment went up by 29% to P6.5 billion.
Under offices, revenues surged by 17% to P2.8 billion, thanks to new buildings leased out to business process outsourcing (BPO) firms. The company ended September with a net leasable area of 440,000 sq.m. across 18 sites.
RLC’s infrastructure and integrated developments division recorded P2.2 billion in revenues for the period. The newly created division sources its revenues from building warehouses for lease, selling institutional lots, and acquiring land.
The hotels and resorts unit grew its revenues by eight percent to P1.5 billion. The company attributed the slower growth to the weaker sales of some projects, pre-operating expenses of new and upcoming hotels, and higher overhead expected in its head office.
Meanwhile, RLC has started pre-selling its first international project in China, which involves the first phase of a residential high-rise condominium. More than 90%, or 740 out of the 795 units, have already been booked so far. The company expects to recognize the revenues for the project next year.
“RLC continues to look for suitable properties to develop and for land banking across the country,” the company said.
Shares in RLC went down by 0.47% or 10 centavos to close at P21.20 apiece at the stock exchange on Tuesday. — Arra B. Francia

Sta. Lucia retains credit rating

LOCAL debt watcher Credit Rating and Investors Services Philippines, Inc. (CRISP) retained its AA rating for Sta. Lucia Land, Inc. (SLI), indicating the company’s “very strong” capacity to repay its debts.
In a statement, CRISP said it has affirmed its AA+ rating with a stable outlook for SLI, citing its strong market presence in the affordable and emerging middle class market, stable revenue growth, and timely land banking initiatives.
“SLI is a widely recognized brand in the affordable and emerging middle class market segments which represents a sizable market in the country today,” according to CRISP.
The debt watcher also noted SLI’s land banking efforts. To date, the company has acquired 97 properties totaling 418 hectares across the country. SLI has also signed 39 joint venture agreements for around 463 hectares in Pasig City, Pangasinan, Cavite, Laguna, Batangas, Rizal, Palawan, Iloilo, Cebu, Negros Occidental and Davao.
The listed property developer booked an attributable profit of P507.97 million in the first half of 2018, six percent higher year-on-year, on the back of a 13% uptick in gross revenues to P2.03 billion.
SLI currently has P2 billion worth of Series B bonds due 2021. — Arra B. Francia

13 Artists Award exhibit: mirror of society’s illnesses


THE WINNERS of the Cultural Center of the Philippines’ 13 Artists awards this year demonstrated that they’re not only concerned with their aesthetics, but also with what is happening in reality. The recipients have responded to the problems of our times: extrajudicial killings, social injustices, the oppressed’s endless plight, and fake news.
Artist Ronald Achacoso, the curator of the 13 Artists’ ongoing exhibition, called the winners as the “new vanguards of arts that explore the periphery of our sociocultural landscape.”
The winners are Eisa Jocson, Zeus Bascon, Raffy T. Napay, Cian Dayrit, Janos Delacruz, Doktor Karayom, Carlo Gabuco, Bea Camacho, Dina Gadia, Guerredro Z. Habulan, Archie Oclos, Lynyrd Paras, and Shireen Seno.
SPEAKING TO OUR REALITIES
The lone photographer in the group, Carlo Gabuco’s works, made with archival pigment ink on photo paper, feature the dark realities that are happening on the streets in light of the administration’s war on illegal drugs. His photographs are complemented by eight video installations in the exhibit. He also showed pieces focusing on extra-judicial killings or EJKs at this year’s Art Fair Philippines.
Another winner who focuses on current reality is Bea Camacho. Her works on view are also a reflection of reality vis-a-vis the spread of fake news and post-truth. Using copies of The Philippine Star newspaper, which has the tag line “The Truth Shall Prevail,” Ms. Camacho questioned our perception of our memories. A statement written on the gallery wall above a pile of copies of the Philippine Star, said: “It is about records and recording. It is about the malleability of memory. The nature of remembering and forgetting.”
Remembering is also at the heart of the works of Archie Oclos and Cian Dayrit, who are remembering the forgotten, the lost, and the least members our society.
Both born in 1989 — the youngest awardees in the group — Mssrs. Oclos and Dayrit depict on their canvases the social reality of the widening inequality between the poor and the rich.
Mr. Oclos is a street artist whose murals tackle perennial sociopolitical problems. His murals are seen in public sites in Tarlac, Cavite, Quezon City, and Binondo, Manila.
For the 13 Artists exhibition, he used NFA rice sacks as his canvases on which he drew students, activists, and rice farmers. Although the power struggles between the haves and the have-nots are nothing new, Mr. Oclos’ works became a strong timely statement because two days after the exhibition opened on Oct. 18, nine farmers in a Negros Occidental hacienda were massacred for tilling the land that was supposed to be their’s.
MAPPING THEIR WORDS
Farmers and indigenous peoples (IPs) are also the subjects of Mr. Dayrit’s works.
The artist, who uses cartography as one of his media, has been conducting workshops in small communities in Mindanao and Luzon, and few in Visayas since 2017 as part of his art practice. The idea behind his project is to give them a platform for their voices to be heard.
In one of his maps, he traced the words “capitalism,” “feudalism,” “neoliberal policies,” and “imperialism hacienda system” as parts of the systemic historical oppression in the Philippines.
“The essence is the idea of mapping as a form of resistance, or, if not, an assertion of rights or the rethinking of sense of being. The notion of counter mapping, or counter cartography, is that you’re countering the traditional canons of practice of cartography where it is usually authored by the states, from a seat of power.
“But in the workshops I do, the people who participate are the ones who author the maps and do their own representation in a space. In a way, it’s not something new. It’s been done by different cultures. Counter-cartography as a practice has also been done in other places precisely as form of resistance and survival. In my case, as a visual artist, I am trying to merge my platform and the practice,” he said.
His works in the exhibition are mostly maps drawn by the farmers and the IPs which contain texts and slogans. The artist said the maps could be overloaded with information, but he’s taking this both as a challenge and an invitation. “It’s dense in information. You present small drawings that require an intimate experience, I know that they are challenging as an exhibition, but in a way this is my interest: How to present the information, even if it is this dense. At the moment, let it be dense — it’s challenging people to give time and ask ‘what is this artist doing?’,” he said in a mix of english and the vernacular.
He said he asked the permission of the farmers, the workers, and the IPs he’s worked with before using their maps.
The writing in the maps are cries about social injustice, inequality, the lack of opportunities and rights of people forgotten and relegated to the peripheries.
The show’s curator, Mr. Achacoso said in his notes: “Imbibing the spirit of the times and pouring their proverbial sweat, blood, and tears on their canvas, they (the artists) function as society’s relief valves, attuned to its pressure points. Wrestling with contemporary fears and anxieties, our hopes and expectations, they trace the parameters of our national ethos.”
The 13 Artist Awards exhibition is on view at the Cultural Center of the Philippines until Dec. 23. — Nickky Faustine P. de Guzman

Petron nets P12 billion in 9 months despite weaker demand for fuel

PETRON CORP. reported a 3% increase in net income to P12.1 billion in nine months to September this year despite an industry-wide decline in fuel demand due to higher pump prices, the company said on Tuesday.
“Despite a challenging environment that brought pump prices to new highs and resulted in weaker demand, Petron continued to thrive and delivered above expectations,” said Petron Chairman Eduardo M. Cojuangco, Jr. in a statement.
Petron, the country’s largest oil refining and marketing company, said the “modest growth” during the nine-month period was backed by the robust showing of its Malaysian operations, sustained volume growth in the home country, and the contribution from its petrochemical business.
“We remain the undisputed industry leader and will continue to pursue our long-term strategies namely optimizing our regional refining assets, increasing our market share in the Philippines and Malaysia, and the roll-out of new products for our customers,” Petron President and Chief Executive Officer Ramon S. Ang said.
Petron said consolidated sales volumes in Malaysia and the Philippines reached record at a combined 81.4 million barrels over the period, nearly 1.2 million higher than last year.
The growth was supported by product offerings, namely Blaze 100 and Turbo Diesel Euro 5, substantial membership increase in its loyalty card program P-Miles, and the increase in its retail network now numbering 630 stations, it added.
Excluding international trading, total Philippine volumes increased by 1% to 47.2 million barrels in the three quarters of 2018 despite high local fuel prices.
Petron said its Bataan refinery continued to run at 95% capacity to support local sales and produce high-value petrochemicals. Petrochemical volumes rose by 3% while polypropylene sales jumped by 20%.
Combined revenues from the Philippine and Malaysian operations expanded by 34% to P419.9 billion from 2017’s P313.5 billion, reflecting higher international oil prices and the increase in volumes.
From December 2017 to September 2018, the bellwether Dubai crude increased by 25% to average at $77.25 per barrel. Operating income as of September increased by 1% to P22.3 billion.
Petron, which has a combined refining capacity of 268,000 barrels per day, produces a full range of fuels and petrochemicals. It operates about 40 terminals in the region and has more than 3,000 service stations where it sells gasoline and diesel.
On Tuesday, shares in the company rose 0.74% to close at P8.18 each. — Victor V. Saulon

Waitress starts serving pie

ATLANTIS Theatrical Entertainment Group this week will open a sweet musical — literally and figuratively — about the bitter realities of abusive relationships and the stresses of the everyday life. The Broadway musical Waitress will feature lots of pies, singing, and a whole lot of positive attitude.
“It’s a magical place to be part of. It’s so sunny and positive,” said Joanna Ampil who will headline the musical.
There was an open rehearsal on Oct. 29 and BusinessWorld was invited to take a peek and speak to the cast.
Opening on Nov. 9 and running until Dec. 2 at the RCBC Plaza in Makati, Waitress tells the story of Jenna (Ms. Ampil), a waitress at a diner that specializes in pie. Stuck in an abusive marriage with Earl (George Schulze), Jenna takes to baking as an escape from the stresses of her life and as a form of therapy. After learning that she’s pregnant, she starts an affair with her gynecologist Dr. Jim Pomatter (Bibo Reyes). She then learns about a pie contest and sees its grand prize as her chance to sort out her life.
Ms. Ampil said of the story: “It’s not just about women empowerment, it’s about Jenna trying to get her strength back. The audience will see themselves in some of the [musical’s] characters who are very accessible.”

The music is catchy, she added. It features songs by American singer-songwriter, actress and author Sara Bareilles, which she wrote for the production.
Ms. Ampil described the music as “tough” to learn and “vocally challenging.”
“It’s my first time to do something like this where the rhythm is difficult to follow. It’s good in a way that I’m learning. The lyrics are uplifting, it’s such an honor [to sing Ms. Bareilles’ songs].”
Playing Jenna’s best friends and fellow waitresses Dawn and Becky are Maronne Cruz and Bituin Escalante. Also in the cast are Dean Rosen, Steven Conde, Luigi Quesada, Gerhard Krysstopher, Luis Marcelo, Emeline Celis Guinid, Teetin Villanueva, Sarah Facuri, and Jillian Ita-as.
Waitress is directed by Bobby Garcia and choreographed by Cecile Martinez.
For details visit Atlantis Theatrical Entertainment Group at www.facebook.com/ATEGasia/. For tickets, contact Ticketworld at 891-9999 or visit www.ticketworld.com.ph. — NFPG

Win or lose, Singson-led consortium will pursue telco expansion

By Denise A. Valdez, Reporter
WHATEVER the result of the government’s bidding for a new major telco player will be, the consortium led by former Ilocos Sur Gov. Luis “Chavit” C. Singson said it will still pursue the expansion of its business, which involves the deployment of portable Wi-Fi hotspots connected to a satellite.
Mr. Singson, whose LCS Group of Companies partnered with TierOne Communications International, Inc., said they are only joining the government bidding to expedite the implementation of their expansion plans.
“Before there was an announcement of bidding, we were already doing telco. I have a new company, Gracia Telecoms, and my partner is doing (telco) also in Mindanao, TierOne… Wala naman sa amin yang bid eh. Pero noong in-announce, might as well bid. Mas mabilis ang trabaho namin [We don’t need the bidding. But when it was announced, we thought we might as well bid. It would make our jobs easier],” he said in an interview on Tuesday.
While the consortium’s ultimate goal is to win the third telco bidding scheduled today, Mr. Singson is confident they can still become the fourth or fifth telco should they fail to win the award.
“Tuloy tuloy kami, pero hindi namin sinasabi yang matatalo kami. We are there to win. Kasi even in other countries, meron namang fourth telco, fifth telco. Kaya tuloy tuloy kami [We will keep going, but we wouldn’t say we will lose. We are there to win. But even in other countries, there are fourth telco, fifth telco, so we will keep pushing],” he said.
What sets LCS-TierOne apart from other third telco aspirants is its planned use of a high throughput satellite to provide internet coverage all over the country.
“This is the only way — satellite. Because we are doing cable, everyone is doing cable. They are only serving the developed areas, but it will take forever because we have 7,000 islands. How can we service (everyone)? The only way to service everybody right away is through satellite. So we’ll be nationwide right away,” Mr. Singson said.
LCS-TierOne signed an agreement to buy equity in broadband satellite operator Kacific Broadband Satellites last month, which will allow the consortium to access bandwidth through its pop-up cell sites.
The pop-up cell sites named Telco-in-a-Box are cargo containers modified and installed with solar panels, an antenna and a radio disk to emit internet signal through the broadband satellite with speeds of up to 1.3 Gigabits per second (Gbps) within a 500-meter radius.
Mr. Singson said they plan to start within the year the initial distribution of 20,000 Telco-in-a-Box units in barangays, especially in rural areas, to offer services to unserved and underserved communities.
For the broadband satellite, he said Boeing Company is currently building the satellite which will be launched by August or September 2019. Satellite operator Kacific, which LCS-TierOne signed a deal with, said in its website it has contracted SpaceX for the launch of the Kacific-1 satellite on a Falcon-9 rocket next year.
“Kacific offers right now long-term bandwidth lease agreements to local wholesale customers wanting to secure for its affordable satellite broadband for their home market,” it said.
LCS-TierOne is one of nine local and foreign companies expected to submit their third telco bids to the National Telecommunications Commission (NTC) today. The winner will be awarded a certificate of public convenience and necessity (CPCN) valid for 15 years or the length of the franchise of a bidder, whichever is shorter; and radio frequency bands of 700 megahertz (MHz), 2100 MHz, 2000 MHz, 2.5 gigahertz (GHz), 3.3 GHz and 3.5 GHz.
The government’s bidding aims to find a third telco that will challenge the duopoly of Globe Telecom, Inc. and PLDT, Inc.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a stake in BusinessWorld through the Philippine Star Group, which it controls.

Does an artist’s ‘success’ rely on making it in the USA? Some say ‘yes.’

FRANK SINATRA made us believe that New York is the center of the world when he sang “If I can make it there, I’ll make it anywhere. It’s up to you New York, New York.” Filipino fans, then, including visual artists and the patrons behind them (if they have any), have always aspired to break into and make it in the Big Apple art scene.
In a talk “Promoting Filipino Art in America” on Oct. 24 at the Leon Gallery in Makati, the one-hour discussion touched on tips and tricks on how Filipino artists — paradoxically, there were no visual artists in the audience — could make it to the United States of America.
“I don’t imagine that it’s too different here. You need to approach the task of giving yourself exposure in a professional way. It’s not magic. It’s sort of like applying for a job: strategize and figure who you need to talk to. It’s complicated because you’re how many miles away from US, but if you take away the distance, I think it’s the same problem as getting a show anywhere,” said David Furchgott, one of the guest speakers in the event.
Mr. Furchgott is the founder of the International Arts & Artists (www.artsandartists.org), a nonprofit organization that aims to increase the cross-cultural understanding and art exposure via programs and exhibitions.
Another speaker, Jack Rasmussen, director and curator of the American University Museum in Washington DC, said artists can send their slides, or portfolio, to as many curators as they want. But the process is long, tedious, and uncertain.
“It takes time. It’s not easy,” he said, adding that it could be two years or 12 years.
He said: “How people get to be known is not a fast process.”
“It can be a difficult experiences, a lot of persistence. All systems have to go. You have to love the work and have something to say before anything else then success will follow — or not. Sometimes it’s not a matter of talent but it’s a very difficult market place,” he said, matter of factly.
Both American gentlemen have been working in the US art world for more than 20 years. They said they get at least four proposals in a day.
But what do these men look for when choosing what art to exhibit? The two said they are interested in artists who are self-aware and honest with their art.
“The artists who interest me are still tied to their culture. You cannot plug in an international style. It’s not going to be interesting,” said Mr. Rasmussen. “If you are going to follow the market trend and guess where it’s going, you’re not going to get there. It should come from your experience. Your life.”
Artists should have a distinct voice. Mr. Furchgott said: “The artist should have a story. You need to be able to talk about your work. If someone asks you what you do, you shouldn’t be like ‘Well it’s like… well it represents… uhmmm… I don’t know…’ You need to have a story and tell it.”
LEAVING ON A JET PLANE
Should Filipino artists who dream of making it globally just pack up and leave?
Art collector Ken Hakuta — who was in the country for the recent exhibit of works by his uncle Nam June Paik, the father of video art — was in the audience and said that Filipino artists should leave and settle for good in the US, particularly in the vibrant art communities in Los Angeles and New York.
“The numbers are disastrously low, close to zero, a few, compared, say, to the active market and community in South Korea. In New York, there are 3,500 working [South] Koreans — they weren’t born in America but they moved to America — and I understand there are 20 Filipinos there,” said Mr. Hakuta who joined in the discussion.
“For the artist to go global, they have to move there for 15 years and become permanent residents,” he said.
“It’s not good enough that Filipinos get residencies for six weeks or three months — they have to move there for 15 years. Look at Ai Wei Wei for example.
“The competition here is too weak, they have to learn and find out that they’re really bad. That’s the reality. They become good enough here and make good enough living, and they stop. But for some reasons, the [Filipino] artists here won’t move [to the US],” he added.
Perhaps because the Filipino artists are afraid to gamble? Or unwilling to leave their families behind? Or maybe because the current climate in America isn’t friendly to foreigners?
There are many reasons for not wanting to migrate to the US.
One Filipino artist who has been living in New York, told BusinessWorld in a separate occasion that moving to the US is easier said that done.
“It’s a very long, risky process,” New York-based artist Julio Jose “Jojo” Austria told BusinessWorld via Facebook. “What I can say is at least now I am one of the many who are making progress every single year. As a Pinoy artist, it’s like being a foot soldier in a frontline. Kasi I came in on my own, [which is] similar to the other few first-generation immigrant Filipino artists whom I had met along the way ’nung tumatagal na ko sa local scene (once I had been around a while in the local scene),” he said.
“Magkakaiba lang kami ng (We just had different) process of getting in — my ticket to getting in is being an artist-US resident — pero (but) we all have common experiences to share. It was a struggle, starting with being alone without connection and immediate family, being displaced, adjusting to a brand-new reality, and figuring out how to assimilate locally. Everything was trial and error from the beginning.”
Mr. Jose has been living in New York City for eight years now, and has done one major show and one small solo show there, and one solo show in Vermont. He also gets to participate in group shows — by selection and invitation — two or three times a year.
“It’s part of the competitive scene here kasi nga (because) you’re dealing with all types of artists [from] all over the world. For example, for you to have a show, be in an art program. You need to apply first or be invited. So kung lumusot ka lusot ka talaga (if you get in, you are really in) even if you don’t know anybody kasi ikaw at ’yung art work mo talaga ang tinitignan nila (because it is you and your art work that they are really looking at), which I think is a much better validation as an artist kasi you were given a break by merit…
“Well, there are a lot of vanity galleries or spaces around the city — if you have the money you can pay, which mostly outsiders do para lang masabi na (just so they can say) they had a show in NYC or at least gain an experience or a taste of the city, which I think hindi naman masama kasi para-paraan din ’yan (which I don’t think is a really a bad thing, its a way of doing it) and everybody has a right kung anong diskarte gusto mo gawin sa buhay (to use whatever strategies they want for their life),” he said.
He said he loves New York because it is a melting pot of culture. He even thinks that staying 15 years there, as Mr. Hakuta suggested, is too short a time — he believes an artist should stay in the US at least 20 years to learn and re-learn art.
But at the end, he said: “I am after the process [rather] than the result at the end of journey. For now, what is important for me is things are happening, the experiences, and what you’ve accomplished between points A and B, B and C, D and E, and so on.”
Before uprooting oneself, Mssrs. Furchgott and Rasmussen said it pays if artists make a name here first.
“It doesn’t hurt if you get noticeable in your country…” said Mr. Furchgott. “Sometimes it works by coincidences but it works by developing who you are as an artist. Then build up. People don’t become rock stars of the art world overnight.”
The two gentlemen agreed that local artists should serve their art first, then fame and money come next, in no particular order.
“If you’re looking for international stardom, it’s important to support your artists here first… and to represent your culture is a beautiful thing. It’s great to want to make a name, but you have to be doing this because you love it,” said Mr. Rasmussen.
At the end of the day, the two Americans affirmed what we already know: “Work hard, don’t give up. [It’s] important to believe in your culture and present that.” — Nickky Faustine P. de Guzman

ABS-CBN, GMA continue fight for TV ratings

ABS-CBN Corp. and GMA Network, Inc. tussled over nationwide TV ratings as both claimed dominance in October, using data from different audience measurement providers.
In a statement, ABS-CBN said it recorded an average audience share of 44% in October versus GMA’s 31%, based on Kantar Media data.
Citing data from Nielsen TV Audience Measurement, GMA said it posted an average total day people audience share of 41.1% in the National Urban Television Audience Measurement (NUTAM), while ABS-CBN’s share stood at 37.2%.
ABS-CBN said Kantar Media uses a nationwide sample size of 2,610 urban and rural homes, while GMA said Nielsen surveyed “approximately 900 more homes” than its rival.
The Lopez-led media company said it continued to lead in the primetime block (6 p.m. to midnight) with an average audience share of 48%, compared to GMA’s 31%.
ABS-CBN said it widened its lead in Metro Manila, with an average audience share of 42% against GMA’s 25%. Among Mega Manila households, ABS-CBN’ share reached 36% versus GMA’s 33%.
Meanwhile, GMA said it dominated the evening block with 41.3% audience share versus ABS-CBN’s 39.3%.
GMA said it registered an average total day people audience share of 46.9% in Urban Luzon against ABS-CBN’s 30.9%. In Mega Manila, GMA saw an average total day people audience share of 49.1%, while its rival registered a 28.1% share.

Learning through comics

BEFORE the advent of free television for cheap entertainment, there were comic books.
A prolific figure during the Golden Age of comics, Francisco V. Coching (1919-1998) is acknowledged as the “Dean of Filipino illustrators.”
He began his career in 1934 with works that reflected Philippine history, society and culture. He produced 63 comic titles — 51 of which were adapted to film. Among his popular works include Pedro Penduko, Sabas ang Barbaro, and El Indio.
In 2014, he was named National Artist for Visual Arts. His citation, signed by former president Benigno S. Aquino III, reads, “Sa pamamagitan ng komiks at pelikula, tumulong siyang patnubayan ang pagsalita at biswal na pagkatuto at paggamit ng Filipino bilang wikang pambansa (Through comics and film, he helped guide speech and visual learning and the use of the Filipino as a national language.)”
As a prelude to the artist’s centennial year, the Ayala Museum is presenting F.V. Coching: Komiks at Kultura, a retrospective of the artist’s original plates of comic covers, character studies, interactive displays, and re-colored reproductions of his works.
According to his daughter Lulu Coching Rodriquez, having an exhibit of her father’s work had always been her mother’s dream. “Even before my father became a National Artist, my mother was in the forefront of all efforts to bring his work to belong to everyone, especially to the young,” said Ms. Rodriguez’s message, as read by her husband Jose R. Rodriguez at the opening reception last week.
“We tie up with whoever has the works, this time it’s the family. They were able to save a lot of these drawings — originals of the artist,” Kenneth Esguerra, senior curator of the Ayala Museum, told BusinessWorld.
Mr. Esguerra said that comics were very popular back in the day since it was the “cheapest form of entertainment.”
“You just go to a sari-sari store, you can rent a comic book if you don’t have money to buy it. It was reachable to the masses,” he said, noting that comics nowadays are quite expensive.
The exhibit is presented under the Ayala Museum’s Images of Nation program which was developed to showcase the “vision and excellence embodied in the National Artist Award.”
“Art has a purpose. Art is not for art’s sake only, but it is used to teach history and culture,” Mr. Esguerra said.
F.V. Coching: Komiks at Kultura is on view until Feb. 3, 2019 at the Ayala Museum, Makati Ave., Makati. Copies of the catalogue are available at the Museum shop for P1,500. — Michelle Anne P. Soliman

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