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Sales of imported cars increase in February but down year to date

SALES of imported automobiles increased by 12% year-on-year in February, although year-to-date sales still dropped, according to data released on Thursday by the Association of Vehicle Importers and Distributors, Inc. (AVID).
Sales by AVID members totaled 7,876 units last month compared to 7,017 units in February 2017.
Still, auto sales dropped eight percent to 14,499 units as of February from 15,712 units in last year’s first two months.
Sales of passenger cars dipped by one percent to 2,843 units last month from 2,881 units a year ago.
Accounting for 62% of February’s total, light commercial vehicle (LCV) sales increased by 22% to 4,905 units from 4,028 units in February last year.
YEAR-TO-DATE
The first two months of the year saw 15% drop in passenger car sales to 5,140 units from 6,065 a year ago, with Hyundai Asia Resources, Inc. (HARI) topping the list with 3,490 units sold, 12.8% less than the year-ago 4,002 units. In a separate statement on Thursday, HARI reported that total sales increased by 38.6% to 3,715 units in February, driving two-month sales up 16.2% to 6,537 vehicles. Suzuki Philippines, Inc. (SPI) followed with 1,204 units sold, slighly less than the year-ago 1,280.
The same comparative two-month periods saw LCV sales dip three percent to 9,146 units from 9,434 units. Ford Group Philippines, Inc. topped in this segment with 3,596 units sold, 19% down from 4,456 units in last year’s first two months. HARI followed with 2,893 units sold, 87% more than last year’s 1,550; while SPI sold 1,680 units, a fourth less than 2,202 last yar.
The annual growth was driven by increased consumer spending and the launch of new products.
“We are encouraged by the good sales performance of AVID for the month which signals stronger consumer confidence as well as preference for top-notch products. While we are still in the early part of the year, we… expect a robust recovery for the automotive industry,” AVID President Ma. Fe Perez-Agudo said in a statement.
AVID is the auto industry association whose members import their products. — JCL

‘Investor optimism’ makes hot money rebound in Feb.

FOREIGN portfolio investments — referred to also as “hot money” for the ease by which these funds enter and leave the economy at the slightest stimulus — turned around in February from a year ago on the back of sustained “investor optimism” even as they were more than halved from January, according to latest data which the Bangko Sentral ng Pilipinas (BSP) released on Thursday.
February bared $339.57 million in net hot money inflows that reflected a rebound from the year-ago $528.53-million net outflow but were still 55% less than January’s $762.82-million net inflows.
Gross inflows increased by 34.9% to $1.41 billion in February from $1.045 billion a year ago but were still 31.6% less than January’s $2.062 billion.
In comparison, gross outflows fell by 32% to $1.071 billion in February from $1.574 billion a year ago, and by 17.6% from January’s $1.299 billion.
About 77.4% of investments registered with the BSP in February went to securities listed on the Philippine Stock Exchange (PSE) — particularly to banks, holding firms, property companies, food, beverage and tobacco companies, and transportation companies — while 22.4% went to peso-denominated government securities and just 0.2% went to other peso-denominated debt instruments.
All these transactions yielded net inflows in February, BSP said, with those involving PSE-listed securities at $175 million, those of peso-denominated government securities at $162 million and those of other peso-denominated debt instruments at $3 million.
February saw the United Kingdom, the United States, Singapore, Luxembourg, and Norway were the top five hot money sources, accounting for 67%.
The central bank attributed that month’s net inflows “to investor optimism arising from developments on trade negotiations between the US and China and the passage of the tariffication law, which is expected to help boost the rice supply in the country and thereby temper inflation.”
President Donald Trump that month postponed “indefinitely” the US plan to impose $200 million in tariffs on Chinese goods, originally scheduled on March 1, citing “substantial progress” in bilateral talks.
Meanwhile, President Rodrigo R. Duterte signed on Feb. 14 the law liberalizing importation of rice by replacing quantitative restrictions on imports of the grain with tariffs: five percent for rice coming from within the Association of Southeast Asian Nations (ASEAN); 40% for imports within the 350,000 metric-ton minimum access volume (MAV), regardless of country; and 180% for above-MAV imports from non-ASEAN countries.
The latest flows brought the tally to a $1.102.39-billion net inflow in the first two months, a turnaround from a $366.37-million net outflow a year ago.
Sought for comment, Rizal Commercial Banking Corp. economist Michael L. Ricafort credited easing inflation and low interest rates for sustained investor interest.
“Lower inflation and interest rates fundamentally increase the incomes and purchasing power of consumers… and also increases the sales, profits and valuation of listed companies as well,” Mr. Ricafort explained in a mobile phone message.
Union Bank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion said separately that foreign portfolio investments could post smaller net inflows in March “unless external environment gets better for good,” particularly significant gains in resolving the Sino-US trade spat.
This month’s first two days saw net inflows slashed significantly to just $49.13 million from $1.178 million a year ago, as gross inflows fell to $118.56 million from $1.329 billion and total outflows dropped to $69.43 million from $150.37 million. — Karl Angelo N. Vidal

Why the worst may be over for the global economy

LONDON — The world economy may be the rockiest it’s been since the financial crisis, yet there are reasons to expect the current slowdown will prove short-lived.
Bloomberg Economics, Deutsche Bank AG and Morgan Stanley are among those whose economists reckon the slide will bottom out in this quarter or next before an acceleration later in the year.
“Put the Federal Reserve pause, trade truce and China stimulus together and we’re looking for a trough in the first quarter and very moderate pick up ahead,” said Tom Orlik, chief economist at Bloomberg Economics.
CENTRAL BANKS TO THE RESCUE
Led by the Fed, many central banks have either held back on tightening monetary policy or introduced fresh stimulus, soothing investor fears of a slowdown.
Fed Chairman Jerome Powell says he and colleagues will be patient on raising interest rates again, while European Central Bank President Mario Draghi has ruled out doing so this year and unveiled a new batch of cheap loans for banks.
Elsewhere, authorities in Australia, Canada and the United Kingdom are among those to have adopted a wait-and-see approach.
China, at its National People’s Congress this month, signaled a willingness to ease monetary and fiscal policies to support economic expansion.
Having tightened at the end of last year — in part prompting the Fed to rethink the outlook — financial conditions have loosened up.
After touching a two-and-a-half-year low in December, the Bloomberg US Financial Conditions Index — which measures the overall level of financial stress in money, bond and equity markets — has since rebounded.
Reflecting a more positive investor view, there’s also been a rebound in stocks this year. The S&P 500 has gained almost 20% from its December low, while the Shanghai Composite is up about 22%.
An easing in US dollar strength versus 2018 has also given relief to emerging markets, taking some pressure off policy makers to guard against capital flight.
Credit numbers for China and Japan in February were up strongly from a year ago.
IHS Markit’s indicator of global growth rose in February from a 28-month low and, encouragingly, there was an improvement in the gauge of demand.
Its measure of worldwide services also picked up in February for the first time in three months.
Citigroup’s surprise index for the euro area — which has been one of the weak spots of the global economy — has rebounded to its best reading in almost five months.
In China, a measure of new orders in the manufacturing Purchasing Managers Index improved last month, and Germany got good news about an increase in water levels on the River Rhine.
A drop last year disrupted barge traffic, hitting industry and adding to the temporary factors that pushed the economy near a recession.
TRADING PLACES
Investors have been keen to blame political discord, and especially the global trade war, for prompting businesses and consumers to retrench.
One measure of unpredictability in 20 countries entered the year at a record level.
But US President Donald Trump decided against imposing another round of tariffs on China on March 1 and there are signs that he and Chinese President Xi Jinping may soon be able to strike a trade deal.
A model designed by the Institute of International Finance (IIF) to track US trade in real time showed signs of stabilizing from early this year.
“Global trade fears are overblown, as are concerns that global growth may slow significantly,” according to Robin Brooks, the IIF’s chief economist.
Even with February’s disappointing US employment report, the global labor market continues to tighten, providing reason to hope consumers will keep spending.
JPMorgan Chase & Co. estimates unemployment in developed nations is now at a 40-year low of five percent and set to fall further. That has the bank predicting wages will grow 3.2% in the final quarter of this year, the fastest for any point in the decade-long expansion and almost a percentage point faster than the same period of 2017.
The International Monetary Fund is still predicting global growth of 3.7% this year and 3.5% in 2019, a pretty good clip for this stage of the expansion.
Deutsche Bank strategist Alan Ruskin also argues there is reason to be more upbeat than the headlines suggest. China’s economy, for example, is five times its size in 2000, meaning a six percent growth rate now is equivalent to 30 percent back then.
“When making even longer-term comparisons, absolute levels and changes become even more important than the limited perspective provided by percentage changes,” he wrote in a note to clients this week. — Bloomberg

SMC recurring income flat in 2018

DIVERSIFIED conglomerate San Miguel Corp. (SMC) recorded flat earnings growth in 2018, mainly due to lower crude prices for its fuel business that was further dragged down by forex losses.
In a presentation to investors posted on its website, SMC said consolidated recurring net income hit P55.18 billion, one percent higher year on year. This came amid a 24% increase in consolidated revenues to P1.02 trillion.
“Income growth for the conglomerate was tempered by the sharp decline in crude prices resulting in inventory losses for its fuels and petrochemical business during the 4th quarter of 2018. This was compounded by forex translation losses for the year,” the company said in a statement.
Petron Corp. saw its net income drop 50% to P7.07 billion last year, primarily due to inventory losses incurred in November and December. The company noted that global oil production supply surged during the fourth quarter, causing a nine-week plunge in international oil prices.
At the same time, revenues of the country’s largest refiner jumped 28% to P557.39 billion.
San Miguel Food and Beverage, Inc. (SMFB) delivered an eight percent profit increase to P30.53 billion, following a 14% increase in consolidated revenues to P286.38 billion.
The food and beverage giant benefited from strong sales from all units, but its bottomline was also tempered by elevated costs during the period. For instance, net income of San Miguel Pure Foods, Inc. went down by 15% to P5.89 billion, despite a 13% increase in sales to P132.23 billion.
The power unit through SMC Global Power Holdings Corp. registered a 37% increase in operating income to P33.17 billion. Consolidated revenues rose 45% to P120.10 billion after volume grew by 39% for the period.
“This was attributed to additional generation from the Limay, Malita and Masinloc power plants and better contributions from the Ilijan and San Roque power plants,” the company said.
Meanwhile, operating income of SMC’s infrastructure unit gained 13% to P11.83 billion, after revenues of P24.53 billion, nine percent higher year on year. The company benefited from more vehicles using its operating toll roads.
SMC said the construction of Skyway Stage 3 and Metro Rail Transit Line 7 remains on track, while its Bulacan Bulk Water project will be able to start providing potable water to six municipalities within the year.
Shares in SMC went down 0.23% or 40 centavos to close at P172 each at the stock exchange on Thursday. — Arra B. Francia

Megaworld and BCDA to jointly manage Bonifacio Capital District

By Arra B. Francia, Reporter
MEGAWORLD CORP. has partnered with the Bases Conversion and Development Authority (BCDA) for the property management of the 160-hectare Bonifacio Capital District (BCD) in Taguig City.
The listed property developer signed on Thursday a memorandum of agreement (MoA) with BCDA for the new district on the southern part of Fort Bonifacio, which will encompass Megaworld’s existing developments such as the 54.3-hectare McKinley Hill and the 34.5-hectare McKinley West.
BCD will also include properties owned by BCDA, namely the 26-hectare Philippine Navy Village, the 33.1-hectare Bonifacio South Pointe in partnership with the SM Group, the 10.1-hectare Consular property beside McKinley West, and a one-hectare lot.
Under the agreement, Megaworld and BCDA will create a Policy Review Board (PRB) that will set the policies and restrictions for the execution of BCD’s masterplan.
“The PRB is one of the most important, if not the most important body of any development,” BCDA President and Chief Executive Officer Vince B. Dizon said in a press briefing after the MoA signing in Taguig on Thursday.
“It is in charge of ensuring the right execution of the development. It’s in charge of the urban designs, ensuring that each and every locator in the property follows these guidelines, and is in charge of the short, medium, and long-term development of the entire property,” Mr. Dizon explained.
Mr. Dizon noted how the absence of a masterplan in most cities in the Philippines has given rise to “not so ideal conditions” for businesses, as well as for the people residing and working in those cities.
Megaworld Senior Vice President and Chief Strategy Officer Kevin Andrew L. Tan said the execution of the masterplan will include traffic management, landscaping of major roads, and security management, among others.
“In the next five years, after completing the road developments, utilities network and the subway project, we will be focused on traffic management, which includes development of bike lanes and pedestrian networks as well as deployment of traffic marshals,” Mr. Tan said in the same event.
The company will also expand the CCTV monitoring within the district, which will be incorporated into its Central Command Center in McKinley Hill.
Megaworld is currently developing commercial, residential, office, and institutional properties in McKinley Hill and McKinley West spanning about 1.26 million square meters (sq.m.) in gross floor area (GFA). The company expects to finish another 2.1 million sq.m. in GFA within the next 10 years from proposed mixed-use developments on undeveloped lots in the district.
BCD will also house several government institutions in the future, namely the Senate of the Philippines, the Supreme Court, and the Court of Appeals.
The company also noted that BCD will house one of the proposed stations, Lawton East Station, which will be part of the Metro Manila Subway to be completed by 2025.
Megaworld is the property arm of tycoon Andrew L. Tan’s Alliance Global Group, Inc., whose investments also include liquor, gaming, and quick-serviced restaurants.
Shares in Megaworld climbed 2.22% or 12 centavos to close at P5.53 each at the stock exchange on Thursday.

AC Health to increase stake in Generika

By Arra B. Francia, Reporter
THE health care unit of Ayala Corp. (AC) plans to subscribe to more shares in the Generika group of companies to fund the pharmacy’s expansion.
In a disclosure to the stock exchange on Thursday, the listed conglomerate said Ayala Healthcare Holdings, Inc. (AC Health) has signed conditional agreements to subscribe to an additional 2.5% stake in the Generika group, bringing its ownership to 52.5%.
The Generika group includes Actimed, Inc., Erikagen, Inc., Novelis Solutions, Inc., and Pharm Gen Ventures Corp.
Under the deal, AC Health will subscribe to a total of 970,412 shares in Generika, consisting of 706,579 shares in Actimed, 42,105 shares in Erikagen, 155,921 shares in Novelis, and 65,807 shares in Pharm Gen Ventures.
“We continue to see increasing demand for quality generic medicines and are excited about Generika’s growth potential. The additional capital will help us with our store and product expansion efforts,” AC Health President and Chief Executive Officer Paolo Maximo F. Borromeo said in a text message to BusinessWorld.
“We will also use it for operations and technology improvements which will be critical to support our store expansion,” he added.
The company did not disclose the exact value of the transaction, but noted that it is less than 10% of AC’s total equity.
AC Health first acquired a stake in the Generika Group back in 2015, following its partnership with the Ferrer family. The company has since targeted to increase its network to 1,000 stores by 2020, from its current portfolio of more than 800 stores.
AC President and Chief Operating Officer Fernando Zobel de Ayala earlier said that they invested in the Generika drugstore since generic medicines provide Filipinos up to 80% savings versus branded equivalents, allowing better access to communities.
AC Health also manages FamilyDoc clinics, which is seen to have 100 clinics by next year from more than 50 locations by end-2018. The company acquired a 75% stake in Negros Grace Pharmacy, Inc. last year, expanding its footprint in Visayas.
The company has previously invested in technologies related to the health care industry. This includes health app called Aide, which allows patients to book medical professionals who can provide services at home, as well as online pharmacy MedGrocer.
AC’s net income attributable to the parent went up by five percent to P31.8 billion in 2018, driven by its property, telco, and energy units. Revenues for the group stood at P274.88 billion, 13% higher year on year.
Shares in AC gained 0.6% or P5.50 to close at P925.50 each at the stock exchange on Thursday.

Sex, lies and video: K-pop world rocked by sex scandals

SEOUL — South Korea police were due to question two K-pop stars on Thursday over allegations of sex tapes, secret chat about rape, and deals facilitated by prostitutes, in a sex scandal that has rocked South Korea’s music world and hit entertainment stocks.
The allegations against the boyish stars who epitomize an industry that has put South Korean pop culture on the global stage has triggered a blame game with accusations the business has neglected young stars’ morality in the lust for fame and fortune.
Singer Lee Seung-hyun, better known by the stage name Seungri, said on Monday he was leaving the entertainment industry to fight accusations he paid for prostitutes for foreign businessmen to drum up investment in his business.
Police have said the 28-year-old singer is suspected of what is known as “sexual bribery.”
Lee, a member of the group BIGBANG and nicknamed South Korea’s “Great Gatsby” for his lavish lifestyle, denies any wrongdoing.
“Seungri has never provided prostitutes,” his lawyer, Son Byoung-ho, told Reuters.
Lee is due to appear at a Seoul police station on Thursday for questioning.
Another singer and TV celebrity, Jung Joon-young, is also in trouble.
Jung admitted on Wednesday to having shared videos he secretly took while having sex with women. Police are investigating.
Jung’s agency, MAKEUS Entertainment, has terminated his contract and he has been barred from leaving the country while police question him over suspicion he distributed the videos.
Lawyers for Jung could not be reached for comment.
Lee and Jung were both members of online chat groups where secret sex tapes were shared, and men joked about drugging and raping women, according to the broadcaster SBS.
K-pop had largely escaped scandals as South Korea’s anti-sexual harassment #MeToo movement ensnared political, sports, and other figures.
But that’s clearly changing.
‘WALKING TIME BOMB’
Industry commentators have taken aim at the business managers, notorious for demanding the strictest of training regimes and controlling every aspect of young stars’ lives.
The focus on finding the winning song and dance formula came at the cost of the performers’ “moral education,” said entertainment commentator Ha Jae-keun, adding that many companies covered up problems until it was too late.
“If the agencies do not give sufficient care to their stars, including education and stress management, they will end up raising walking time bombs,” said another industry commentator, Kim Sung-soo.
The South Korean public is demanding action and selling shares in the industry.
A petition calling on the president to crack down on predatory and corrupt practices the scandals have exposed has gathered more than 200,000 signatures.
Shares of Lee’s agency, YG Entertainment, fell more than 20% after his sex bribery scandal was first reported on Feb. 26, while shares of other top music companies have also taken hits.
YG said on Wednesday it would terminate Lee’s contract at his request. A company source told Reuters the future of BIGBANG as a group had not been decided.
But some fans are already walking away.
“What a scumbag. I am ashamed to say I used to be a BIGBANG fan,” said Jenny Eusden, an English teacher in South Korea.
“I just want people to know this is not OK.”
Kaori Kuwabara, a 52-year-old Japanese fan of BIGBANG said YG Entertainment should explain.
“My friends told me that I should stop being a fan of K-pop,” she said as she waited outside the company’s office in Seoul, hoping to put her demand for answers to company officials. — Reuters

Mislatel group still hopes to launch by late 2020

antenna tower
By Denise A. Valdez, Reporter
THIRD telecommunications player Mislatel consortium is still hopeful it will begin commercial operations by late-2020 despite not receiving its frequencies and certificate of public convenience and necessity (CPCN) as scheduled from the government.
“To address the delay, even before the issuance of the CPCN and frequencies, we are taking steps to prepare for our roll-out,” Mislatel Spokesperson Adel A. Tamano said in a text message on Thursday.
“For example, currently we are moving forward on the planning and evaluation stage for our network infrastructure and backbone. We have agreements with NGCP (National Grid Corp. of the Philippines) and Transco (National Transmission Corp.) and are currently evaluating their existing network as part of our rollout plan,” he added.
The group formed by Mindanao Islamic Telephone Company, Inc. (Mislatel), China Telecommunications Corp. and businessman Dennis A. Uy’s Udenna Corp. and Chelsea Logistics Holdings Corp. is scheduled to launch its services sometime in November 2020, based on its rollout plan submitted to the Senate in January.
The November 2020 schedule was derived from the timeline in Mislatel’s rollout plan, assuming it would receive its frequencies and CPCN this March. The company said it was supposed to start engineering work one month from the receipt of its CPCN.
Eliseo M. Rio, Jr., acting secretary of the Department of Information and Communications Technology (DICT), told reporters on Thursday it cannot give Mislatel the go signal until it receives approval from the Congress.
“Okay na lahat [Everything is okay], expect for this transfer of franchise of Mislatel to the consortium. Without that, we could not give the CPCN, the authority to operate, nor can we give the frequencies,” he said.
“Everything that Mislatel was required to do within that time period, they did. Ang problem lang is ’yung [The only problem is the] Congress, they could not dictate the Congress to follow our time period,” Mr. Rio added.
Mislatel is waiting for the Congress to adopt the Senate version of House Concurrent Resolution No. 23, which allows the transfer of controlling interest from the former owners of Mislatel to the Mislatel consortium.
Congress is currently on a session break and will resume on May 20.

Weinstein movie library gets new home under former MGM chief Barber

FILMS backed by disgraced movie mogul Harvey Weinstein, from The King’s Speech to Inglourious Basterds, have found a new home.
Gary Barber, who led a turnaround of Metro-Goldwyn-Mayer (MGM), is creating a new venture with Lantern Entertainment, which bought Weinstein Co. assets out of bankruptcy last year. The new company will be called Spyglass Media Group, taking the name of the studio Barber co-founded in 1998.
Italian independent distributor Eagle Pictures and Cineworld Group Plc, the second-largest theater chain in the world, are backing the company as strategic investors.
The new studio will make new films and TV shows, some of which were put on hold because of the Weinstein bankruptcy — a move brought on by sexual-harassment claims against the eponymous producer. The company also will distribute a 250-title library that includes Oscar winners such as The Artist and television shows like Project Runway, which returned for its 17th season on Thursday. The group plans to sell its content to streaming outlets, which continue to multiply.
WELL TIMED?
“There could not be a better time to produce compelling and crowd-pleasing content for worldwide distribution across multiple platforms,” Barber said in a statement Wednesday. In an interview, he added that the company will be hiring a management team and producing its own content, some of which will be released theatrically.
Barber has contributed some of his own funds to the business, alongside the other investors. He co-founded his predecessor company, Spyglass Entertainment, which backed movies like The Sixth Sense and the 2009 Star Trek.
Weinstein Co. was sold to Lantern last year in a bankruptcy sale worth about $437 million, including debt. The arrangement means Harvey Weinstein himself won’t profit from the new venture. — Bloomberg

Cebu Pacific eyes new Australia routes amid rising demand

CEBU PACIFIC is considering opening new routes to Australia as the budget carrier saw rising demand for its Manila flights to Sydney and Melbourne last year.
In a statement on Thursday, Cebu Pacific Vice-President for Marketing Candice Jennifer A. Iyog said they are looking at “connecting key cities such as Perth or Cairns” to add to its existing destinations Sydney and Melbourne.
“As more brand-new aircraft enters the (Cebu Pacific) fleet, we are now in a position to seriously study the possibility of expanding to more destinations in Australia. We are encouraged by our performance in the Australia market,” Ms. Iyog was quoted as saying.
A recent report from Australia’s Bureau of Infrastructure, Transport and Regional Economics (BITRE) showed Cebu Pacific flew 27,519 passengers between the Philippines and Australia in December 2018, up 45.7% from the 18,889 it recorded in the same month in 2017.
The budget carrier opened its Manila-Melbourne route in August last year, its second link to Australia after it launched the Manila-Sydney route in 2014.
“We have an average market share of about 40% for our Melbourne and Sydney routes. We are pleased with the strong reception in Melbourne for Cebu Pacific,” Ms. Iyog said.
Citing data from Tourism Australia, Cebu Pacific said tourists from the Philippines to the country grew 11.7% in the January to November period to 140,700. Data on the Philippines’ Tourism department website likewise showed visitors from Australia rose 6.61% to 186,851 during the January to September period.
The carrier is expecting to receive six Airbus A321neos (new engine option), five A320neos and one ATR 72-600 by the end of the year, which it eyes to use for new destinations to Australia, India, Russia and Northern Japan. — Denise A. Valdez

Celebrating 70 years of Korean-Philippine friendship

THE PHILIPPINES and Korea mark 70 years of diplomatic relations this year and last week celebrated the milestone through a one-of-a-kind “friendship concert.”
Held at the Mall of Asia Arena, the show featured three up-and-coming Korean pop groups — April, Noir and NCT Dream, a local rock band, Silent Sanctuary, and was attended by ranking government officials and members of the diplomatic corps.
Fans of the featured artists came in droves and were ecstatic to witness the free performance.
Ambassador of Korea to the Philippines, Dong-man Han, delivered the welcoming remarks, and surprised the audience by speaking in full Filipino throughout his three-minute speech.
“Ang K-pop, Korean telenovelas, K-food ay sikat sa Pilipinas. Isa sa ating mga trabaho ay ang pagpapalaganap ng Korean wave dito sa bansa. (K-pop, Korean telenovelas, and K-food are popular in the Philippines. One of our tasks is to further promote Korean wave in the Philippines),” he said
He also noted that Seoul is one of the biggest sources of tourism for the Philippines, with 1.6 million tourist arrivals. Korea is also the fourth-biggest trading partner of the country.
“Sa mga (hindi) fans ng K-pop, inaanyayahan ko kayo (na) suportahan ang paglago at pagtatag ng relasyon ng Pilipinas at Korea (For non-K-pop fans, we invite you to support the growth and strengthening of relations between the Philippines and Korea),” Mr. Han added.
Kim Yong-sam, Vice-Minister of the Ministry of Culture, Sports and Tourism of the Republic of Korea and Victorino M. Manalo, a commissioner of the National Commission for Culture and the Arts and executive director of the National Archives of the Philippines, also spoke during the opening ceremonies.
But the crowd at the MOA Arena did not need any convincing. They loudly cheered for April, who visited Manila for the first time since the all-girl group debuted in August 2015. April sang four songs, kicking off with “Oh! My Mistake,” and following it up with “April Story,” “Take My Hand,” and “Tinker Bell.”
During a press conference held before the concert, the six-member band said it was a great honor to be part of the momentous occasion.
“We are thankful (for the opportunity) to perform (at the 70th anniversary concert),” said Rachel, one of April’s members. Another member, Chaekyung, said April is distinct from other girl groups due to its versatility. She said the they can easily pull off “cute” and even the “sexy” concepts.
April members Naeun and Yena said they look forward to more K-drama projects and participating in the popular Korean variety shows. However, their short-term goal is to top any of the K-music countdown programs in their next musical comeback.
For Noir, which was in the Philippines last December to hold a fan meeting, the return performance was a treat to their fans, who they recently christened as “Lumiere.”
The nine-member team, which was launched only in 2018, said that the warm welcome they received from Filipino supporters may result in more events in the Philippines in the future. They dished out “Airplane Mode” and “Gangsta” in their four-song set.
The main act of last week’s concert was NCT Dream, a group of teenage boys put together by Korean talent agency giant, SM Entertainment, and considered as among the most influential teens of 2018. NCT Dream is the third sub-unit of the bigger band, NCT, and, following a systematic admission-and-graduation system, its members are separated from the group upon reaching the age of 19.
Members Renjun, Jeno, Jaemin, Jisung, and Chenle sang some of NCT Dream’s hits including “Chewing Gum,” “Go,” “We Go Up,” and “My First and Last.”
Their intricate and complicated choreography wowed the crowd, and their performance was a fitting close to the showcase, which was hosted by comedian Ryan Bang and Kring Elezano-Kim.
Homegrown group Silent Sanctuary also held its own during its segment, with its members performing “Bumalik Ka Na Sa Akin” and “Sa ’Yo.”
The Philippines and Korea have been friends and allies since the post-World War II era. Given the cultural links and the apparent interest in each other’s way of life, the two countries are expected to continue to foster their close relationship in the coming years, well beyond their platinum anniversary.

CPG-Mitsubishi venture targets P2.7-billion sales from San Pablo project

THE joint venture company of Century Properties Group, Inc. (CPG) and Japan’s Mitsubishi Corporation is launching this month a new affordable housing community in San Pablo, Laguna.
In a statement on Thursday, PHirst Park Homes, Inc. (PPHI) said it expects to generate P2.7 billion in sales from the 1,640 units to be built on the 18.5-hectare development in San Pablo.
“PPHI is proud to launch a PHirst Park Homes community in San Pablo, Laguna. True to our brand mission of delivering first homes that are beautiful, well-designed, and of good quality at attainable prices, we continue to raise the bar in the affordable housing market,” Loren B. Sales, PPHI vice-president for customer management group, was quoted saying in a statement.
Units range from 40 square meters (sq.m.) to 121 sq.m. The Calista Mid has a lot area of 44 sq.m., while Calista End has a lot area of 60.5 sq.m. A combined unit is at 80 sq.m., while the Calista Duo has a lot area of 121 sq.m. A single-detached unit called Unna is at 54 sq.m.
PPHI said all the units have the option of having a second floor.
The San Pablo community will have health and fitness amenities like monkey bars, cross trainers, domical bars, foot reflexology area, and pull up bars. There will also be a clubhouse, swimming pool, water play area, playground for kids, outdoor cinema, and a basketball court.
PPHI said the development is along Maharlika Highway, Brgy. San Ignacio, and can be accessed through South Luzon Expressway via Santo Tomas Exit. It is also just a few minutes away from SM City San Pablo.
This is the company’s second affordable housing community after the one in Lipa, Batangas, PHirst Park Homes Lipa is a 20-hectare horizontal development in Brgy. San Lucas that was launched in June 2018. It is currently undergoing land development, while construction of the first batch of houses will start in September. — Vincent Mariel P. Galang

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