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Best developers honored at Lamudi awards

ONLINE property marketplace Lamudi recognized the year’s best real estate developers and projects at The Outlook 2018 Philippine Buyers’ Choice Property Awards.
At the gala dinner on Nov. 15, Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa C. Guinigundo said the central bank does not see any signs of a property bubble in the country and expects strong demand for real estate projects to be sustained.
“We believe that there is no substantive evidence of asset price bubble in the Philippine property market nor is there overheating in the macroeconomy as increasing property prices and property demand are supported by favorable economic and market conditions. Our robust macroeconomic fundamentals serve as an anchor for the real estate industry,” he said in speech.
Ayala Land, Inc. bagged the Best Developer of the Year for Luzon award while Megaworld Corporation was named the Best Developer of the Year for Visayas and Mindanao.
The Best Boutique Developer for Visayas and Mindanao was King Properties, Inc., while Primehomes Real Estate Development, Inc. won for Luzon.
For the special awards, Solana Verde of Imperial Homes Corporation was named Best Green Project of the Year, while Miramonti Green Residences of Italpinas Development Corporation was named Best Innovation Project for 2018.
SM Prime Holdings, Inc. President Jeffrey Lim received the award for Personality of the Year.
Here’s the list of properties in Luzon that won awards:

Best Affordable Condo of the Year 2018
Sorrento Oasis of Filinvest, Inc. (Value for Money) and Ridgewood Towers Premier of C5 Mansions Development Corporation (Investment Opportunity)

Best Premium Condo of the Year 2018
Kai Garden Residences of DMCI Homes, Inc (Amenities) and Avida Towers Asten of Avida Land Corporation (Trust and Reputation of Developer)

Best Luxe Condo of the Year 2018
Grand Hyatt Manila Residences of Federeal Land, Inc. (Customer Service) and Copeton Baysuites of Anchor Land Holdings, Inc. (Location)

Best Affordable House of the Year 2018
Claremont of Filinvest Land, Inc.

Best Premium House of the Year 2018
Portofino Alabang of Brittany Corporation

Best Mixed-Use Development of the Year 2018
McKinley Hill of Megaworld Corporation (Amenities and Location) and SM Mall of Asia Complex of SM Prime Holdings, Inc (Investment Opportunity)

Here’s the list of winning properties for Visayas and Mindanao:

Best Affordable Condo of the Year 2018
Amaia Steps Mandaue of Amaia Land Corporation

Best Premium Condo of the Year 2018
Solinea of Alveo Land Corporation

Best House of the Year 2018
Casa Mira South of Cebu Landmasters, Inc.

Best Mixed-Use Development of the Year 2018
Iloilo Business Park of Megaworld Corporation

“The quality of the nominations this year just goes to show that the local property development market is thriving and evolving according to the changing needs of the market. Needless to say, we had a difficult but nonetheless remarkable job of sifting through the submissions as each was deserving of recognition in their own right,” said Bhavna Suresh, chief executive officer of Lamudi Philippines, in a statement.
Now on its second year, The Outlook 2018 is organized by Lamudi to give credit to the best real estate developers and projects in the past year that were chosen through a survey among 10,000 Filipino property seekers.
Lamudi is part of the Rocket Internet Group, an online venture builder. The property platform has over 100,000 listed properties ranging from luxury condominiums to warehouses from Quezon City to Zamboanga. — Vincent Mariel P. Galang

Cemex faces lawsuit over Naga landslide

CEMEX Holdings Philippines, Inc. (CHP) is facing an environmental class suit in relation to an affiliated firm’s quarry operations in Naga, Cebu, following a landslide that left at least 78 people dead last Sept. 20.
In a disclosure to the stock exchange on Monday, the listed cement manufacturer said it has received a summons order for the class suit, alongside APO Cement Corp. The defendants also include APO Land & Quarry Corporation (ALQC), Mines and Geosciences Bureau (MGB) Regional Office VII, City Government of Naga and Province of Cebu.
CHP’s subsidiary, APO Cement, sources its materials from ALQC, which in turn had been conducting quarrying activities in Naga City. Operations have since been suspended due to the landslide.
“The class suit seeks the restitution of damage of natural and human environment, application for the issuance of an Environment Protection Order against quarry operations in Cebu Island with the prayer for Temporary Protection Order, Writ of Continuing Mandamus for the determination of the carrying capacity of Cebu Island and rehabilitation and restoration of the damaged ecosystems,” CHP said.
Petitioners sought P4.33 billion in damages for the incident.
CHP said it has yet to assess the impact of the class suit on its operations. — Arra B. Francia

Dark, new ‘Fantastic Beasts’ movie grounded in real world

LOS ANGELES — Albus Dumbeldore is a young professor at Hogwarts School; the charismatic but evil Gellert Grindelwald is determined to manipulate the world for his own ends; and Newt Scamander, with his magical suitcase of strange creatures, is trying to stop him.
The wizarding world created by J.K. Rowling returned to the big screen last week with Fantastic Beasts: The Crimes of Grindelwald, and its dark themes are grounded firmly in the real world.
Set in 1927, some 70 years before Ms. Rowling’s best-selling Harry Potter books and movies, Fantastic Beasts: The Crimes of Grindelwald is the second in a spin-off movie series that explores the fight between good and evil, and between tolerance and acceptance.
“The thing that has always been extraordinary about Ms. (Rowling’s) work is people relate to aspects of it, whether it is specific character traits or vulnerabilities or a political climate,” said Eddie Redmayne, who plays Scamander.
“Yet she shrouds it in this world that is so magical and sort of wonderful that you don’t feel like you’re being hit by it until you start thinking about it afterwards,” the actor told Reuters Television.
Ms. Rowling has said that the rise of populist politics in modern times was on her mind when she began writing the screenplays for the first two movies, but she has not said if she had a specific person or country in mind.
The new film’s 1927 setting sees Grindelwald, played by Johnny Depp, address huge rallies that incite his followers to violence.
“One of the things that Grindelwald does so well is that he has an insane goal. But… he makes it sound so reasonable,” said Alison Sudol, who plays mind-reader Queenie Goldstein in the movie.
Zoe Kravitz, who plays Scamander’s love interest Leta Lestrange, said she thought the Grindelwald character could be modeled after any kind of person with seductive power.
Whatever the inspiration, Mr. Depp was a good choice to play him, Ms. Kravitz said.
“He is so charismatic and intelligent and I think he’s the perfect person to play a villain like this. He’s so kind of seductive in a way,” she said. — Reuters

DMCI Homes plans new condo in Pasay

AFTER the success of its two projects in Pasay City, DMCI Homes is planning to develop another residential condominium development called Aston Residences in the area.
In a statement, DMCI Homes said the single-tower resort-inspired development is located along Dominga St., a stone’s throw from its La Verti Residences project along Taft Avenue. The property developer said both La Verti and Fairway Terraces in Villamor Air Base have already been sold out.
“Pasay City has always been a sensible choice of address for urban dwellers looking for a convenient and dynamic lifestyle because of its strategic location near business centers,” DMCI Homes President Alfredo Austria said, noting the city’s access to main thoroughfares and the Ninoy Aquino International Airport.
Mr. Austria said the company expects Aston Residences to do well because of its proximity to business districts, entertainment hubs, and educational institutions.
Aston Residences will have DMCI Homes’ trademark generous open spaces and resort-inspired amenities such as pool complex, landscaped atriums, podium deck garden, outdoor fitness area, children’s play area, sky promenade, Sky Patios, and fitness gym.

BSP disqualifies Araneta from bank directorships

LBC Express Holdings, Inc. said on Monday a board director in one of its subsidiaries was temporarily disqualified by the Bangko Sentral ng Pilipinas (BSP) from becoming a director or official of any financial institution.
“(LBC Express Holdings) was advised by LBC Express, Inc. that its director, Santiago G. Araneta, received a letter from the BSP regarding the approval by the Monetary Board of a resolution temporarily disqualifying Mr. Araneta from becoming a director and/or officer in any BSP-supervised financial institution,” the company said in a disclosure to the stock exchange.
LBC Express said the disqualification was related to the closure of LBC Development Bank, Inc. (LBC Bank), where Mr. Araneta was a director.
“The involvement of Mr. Araneta, if any, in the closure and the acts that led to the same is currently being evaluated by the BSP. Pending completion of such evaluation, it appears that the BSP has imposed such temporary disqualification,” the listed company said.
In 2011, the BSP Monetary Board ordered the closure of LBC Bank, which affected some 33,191 accounts with an estimated total deposit worth P5.95 billion.
In 2016, the Philippine Deposit Insurance Corp. (PDIC) filed a complaint with the Department of Justice against LBC Express owners for estafa and violation of the PDIC Charter, which led the bank to lose P1.8 billion.
Parent company LBC Express Holdings reported a 71% increase in net income during the nine-month period to P1.265 billion, as revenues rose 27% to P9.658 billion. — Denise A. Valdez

Fantastic Beasts 2 charms with $62-M debut

LOS ANGELES — Fantastic Beasts: The Crimes of Grindelwald enchanted moviegoers with a debut of $62 million. While that’s slightly lower than the start of Fantastic Beasts and Where to Find Them, the first installment in the Harry Potter spin-off series, it was easily enough to dominate the weekend box office.
Warner Bros., the studio behind the wizarding series, sees Fantastic Beasts as more of an international play, where the follow-up has already earned $191 million. Stateside, Crimes of Grindelwald has battled the worst reviews yet for a Harry Potter entry. It currently holds a bleak 40% on Rotten Tomatoes and a B+ Cinemascore.
The Crimes of Grindelwald is the second entry in what Warner Bros. intends to be a five-film franchise and is part of the studio’s ongoing effort to wring more riches from the wizarding world popularized by author J.K. Rowling. It sparked controversy when Johnny Depp was cast as the infamous dark wizard Gellert Grindelwald. However, it didn’t seem to taint enthusiasm among Potterheads.
Theaters were able to entice more than just witches and wizards this weekend. New offerings, along with a number of holdovers, were able to draw muggles and crack the top five as comedy Instant Family and heist drama Widows each opened relatively on par with expectations.
For Paramount, Instant Family starring Mark Wahlberg and Rose Byrne, generated $14.7 million when it launched in 3,286 locations. The feel-good film that’s loosely based on a true story of a married couple who adopt three young children earned a promising A CinemaScore, as well as a 79% on Rotten Tomatoes. The studio is banking on a strong Thanksgiving showing to boost momentum and justify its $48 million price tag.
Fox and New Regency are distributing Widows, directed by Steve McQueen, which brought in a tepid $12.5 million from 2,805 venues. The movie cost $40 million to make and follows a group of women who arrange a caper in order to pay back a crime boss after their criminal husbands are killed on a job gone wrong. The ensemble cast includes Viola Davis, Michelle Rodriguez, Elizabeth Debicki, and Cynthia Erivo. Since its debut at the Toronto Film Festival, Widows has garnered rave reviews, especially for Davis’ performance.
Second place went to Universal’s The Grinch, which pocketed another $38 million to bring its domestic tally to $126 million. Bohemian Rhapsody, Fox’s Freddie Mercury biopic, also saw a strong outing in its third weekend and nabbed third place with $15 million. That takes its North American total to $127 million.
In limited release, Universal got a head start on Green Book as the awards-bait film picked up $313,000 from 25 venues for a per-screen average of $12,520. Viggo Mortensen and Mahershala Ali co-star in the comedic drama, which expands nationwide on Nov. 21. It won the people’s choice award at the Toronto Film Festival and has since generated an A+ Cinemascore and 83% Rotten Tomatoes average. Directed by Peter Farrelly and co-produced by Participant and DreamWorks, Green Book follows a bouncer who takes a job chauffeuring a famed black pianist in the segregation era. Mortensen has been the subject of controversy after he used the N-word during a panel discussion promoting the film (he was making a point about how far society had come in the decades since Jim Crow). He has since apologized. — Reuters

BoP deficit narrows in October

By Melissa Luz T. Lopez, Senior Reporter
THE PHILIPPINES saw continued dollar outflows in October, the Bangko Sentral ng Pilipinas (BSP) said, at a time of a weak peso and as the state settled more foreign debt.
The country’s balance of payments (BoP) position logged a $458-million deficit last month, albeit narrower than the $368-million gap last year and September’s $2.696-billion deficit which was the widest in four years.
The BoP measures the country’s transactions with the rest of the world at a given time. A deficit means more money fled the economy than what went in, while a surplus shows that more funds entered the Philippines.
The October deficit is the smallest seen since a $1.272-billion surplus in August.
The BSP attributed the second straight month in deficit to the government’s payments for external debts as well as net foreign currency withdrawals. The central bank’s interventions in the daily peso-dollar trading also contributed to the net outflows, it said in a statement yesterday.
The central bank taps its dollar reserves to temper sharp swings in the peso-dollar rate, as part of its “tactical intervention” to keep the currency competitive.
The local unit traded above P54 versus the dollar in early October, driving the monthly average weaker to P54.0086 versus the P51.3433 rate seen a year ago. The peso has since pared its losses going into November, with the unit back to the P52 to $1 level as of yesterday.
Gross international reserves totalled $74.71 billion in October, lower than the $74.939 billion level the previous month. The amount can cover up to 6.8 months’ worth of import duties, the central bank said.
On the other hand, a steady stream of income from the BSP’s offshore investments partly offset these money outflows.
Year-to-date, the BoP tally now stands at a $5.594 billion deficit, roughly triple the $1.735 billion shortfall recorded during the comparable 10-month period in 2017.
The figure is also well beyond the $1.5 billion deficit expected for the full year since the BSP’s review back in May.
In a statement, the central bank attributed the wider-than-expected deficit to a ballooning merchandise trade deficit due to a heavy importations of raw materials and capital goods seen to “support domestic economic expansion.”
Imports surged by 16.3% while exports slipped by 2.1% as of end-September, leaving the trade gap at $29.91 billion for the first nine months of 2018, according to preliminary data from the Philippine Statistics Authority.
Ruben Carlo O. Asuncion, chief economist at the Union Bank of the Philippines, said the sustained BoP deficit was “expected” and will likely persist.
“This investment-led strategy by the government will continue to put pressure on the BoP. This is also being complicated by external environment pressures,” Mr. Asuncion said when sought for comment.
“The last two months may continue to look the same as the first 10 months of 2018.”

Christmas at Eton

ETON CENTRIS kicked off the Christmas season with a tree-lighting ceremony last Nov. 14. A giant 50-feet Christmas tree was adorned with over 2,000 pieces of multi-colored balls and twinkling lights.
“With its authentic and vibrant community, Centris has always been the soulful side of Quezon City. It is in this passion that we have prepared an exciting line-up of Christmas activities this year that friends and families can enjoy. We invite people to go to Eton Centris to celebrate this Christmas – reunions, parties, dates, me-time, anything that makes them happy,” said Assistant Vice President for Eton Centris, Marjorie G. Abot.
A Catholic Mass will be held at 6:30 p.m. at the Centris Walk from Dec. 15 to 23. There will be Christmas Musical Nights on all Fridays and Saturdays of December happening at the Centris Walk Open Grounds, while a fireworks display will run at 9 p.m. for all Saturdays of December.
A Christmas bazaar will be open from 11 a.m. to 9 p.m. for the entire December. The SIDCOR Market will still be held every Sunday from 6 a.m. to 2 p.m.

Gov’t makes full award of T-bills as demand soars

By Karl Angelo N. Vidal, Reporter
THE GOVERNMENT made another full award of the Treasury bills (T-bill) it auctioned off on Monday as investors were more confident to lock in their funds following the latest rate hike of the central bank.
The Bureau of the Treasury (BTr) borrowed P15 billion as planned at its T-bills auction yesterday as the offer was twice oversubscribed, with total bids amounting to P30.28 billion — higher than the P28.64 billion tallied at last week’s offering.
Broken down, the government fully awarded the 91-day papers, accepting P4 billion out of total tenders amounting to P4.74 billion. Its average yield climbed 12.3 basis points (bp) to 5.295% from 5.172% in the previous auction.
The Treasury also accepted P5 billion in bids as planned for the 182-day debt out of the P11.928 billion offered by banks and other financial institutions. The average rate likewise rose by 3.5 bps to 6.28% from the 6.245% quoted in the previous offering.
The government likewise made a full award of the 364-day T-bills, borrowing the programmed P6 billion from total offers totalling P13.612 billion. The average yield was almost flat, rising by a mere 0.9 bp to 6.521%.
Based on the PHP Bloomberg Valuation Service Reference Rates, the three-month, six-month and one-year papers were quoted at 5.339%, 6.155% and 6.545%, respectively, yesterday.
National Treasurer Rosalia V. De Leon said the Treasury saw a “good auction” yesterday, particularly for the six-month and one-year papers, with investors more comfortable with putting their funds in the longer-termed T-bills after another rate hike from the Bangko Sentral ng Pilipinas (BSP) last week.
“We [had] a good auction as we saw oversubscription… So investors are already locking in given after the 25-bp hike by the MB (Monetary Board),” Ms. De Leon told reporters following the auction.
At its Thursday meeting, the BSP’s policy-setting Monetary Board fired off another 25-bp hike in policy rates, following increases worth a cumulative 150 bps since May.
Following this, the central bank said it now expects inflation to clock in slower in the coming months, with price increases seen to settle below 4% over the next two years.
“I also think that the central bank already cemented with a 25-bp hike in terms of expectations on further the inflationary path so inflation expectations will also be well anchored,” Ms. De Leon added.
“So investors see that we are able to…temper inflation with all these actions coming from the MB as well.”
Inflation steadied at 6.7% in October, matching September’s print which was a nine-year year high. Likewise, month-on-month inflation eased to 0.3% coming from the 0.9% logged in September.
Meanwhile, a bond trader said the auction result was within expectations except for the 91-day papers which fetched a rate that was higher than expected.
“I think there was a lukewarm demand for the 91-day [T-bills] due to better yields of the longer tenors, so the yields on the 182- and 364-day papers were more attractive,” the trader said in a phone interview.
DOLLAR BONDS
Meanwhile. Ms. De Leon said the BTr is assessing market conditions for the timing of its issuance of dollar-denominated Republic of the Philippines (RoP) bonds following the deepening trade tensions between China and the United States.
“We continue to watch the market because this trade tension was reignited,” she said.
The world’s two largest economies traded barbs ahead of the Asia-Pacific Economic Cooperation Summit held in Papua New Guinea. In his speech, Chinese President Xi Jinping criticized Washington’s trade protectionism, while US Vice President Mike Pence said the tariffs on $250-billion worth of Chinese goods will remain in place until Beijing changed its ways.
“We want to see first more stable environment for us to be able to come out and do the issuance,” Ms. De Leon said. “And of course, we like to see more reasonable rates for the RoP.”
The Treasury said in September it is still looking at issuing RoP bonds this quarter. In January, the country returned to the global bond market after four years, offering 10-year dollar-denominated global bonds worth $2 billion which carry a 3% coupon.
Meanwhile, the government is also looking at issuing yuan- and yen-denominated papers to maintain its presence in the Chinese and Japanese capital markets.

AirAsia Philippines adds Clark-Seoul route

PHILIPPINES AirAsia, Inc. is launching flights from Clark to Seoul, South Korea in mid-January.
In a statement, AirAsia said it is adding three times weekly flights to Seoul beginning Jan. 19.
Flights depart in Clark at 5:50 p.m. and arrive in Incheon at 10:35 p.m. on Tuesday, Thursday and Saturday. Flights leave Incheon at 11:25 p.m. on Tuesday, Thursday and Saturday, and arrive in Clark at 2:35 a.m. the next day.
It is an exciting time for travelers from Metro Manila, Central and Northern Luzon wanting to experience winter in Seoul as we begin to offer new flights from Clark in January. AirAsia is expanding our network in Clark to provide the much-needed connectivity and convenience,” AirAsia Philippines CEO Dexter M. Comendador said.
The budget carrier is offering introductory promotional fares for the Clark-Seoul route for as low as P1,990.

Iconic iKON

By Cecille Santillan-Visto
Concert review
iKON 2018 Continue Tour in Manila
Mall of Asia Arena
Nov. 11, 2018
UNLIKE IN beauty pageants, the “spare tire” principle does not apply to reality shows. The winner usually proceeds to sign the hefty, multi-year, exclusive contract, receive all the accolades, and, for all intents and purposes, makes the runner-up eat dust.
Not so in the case of iKON.
iKON is a group formed from the reality survival program WIN: Who Is Next, broadcasted over Korea’s Mnet in 2013. YG Entertainment was looking to introduce a new boy band, pitting two teams against each other. Team A clinched the crown and debuted as Winner, but Team B, which would later form the nucleus of iKON, was also given the chance to launch following the determination of the final members through another show, Mix & Match.
Though they were then the losers, iKON is arguably now one of the most popular Korean pop bands. Their sheer determination and, more importantly, worldwide fan support fueled largely by social media, saved them from the brink of disbandment. Now after five years, they are on their first world concert tour.
The passion of iKON’s fans, called the iKONics, was evident during the Manila leg of the group’s concert. The SM Mall of Asia Arena was packed to the brim, prompting member Bobby to request the fans at the VIP standing area to enjoy the concert but to remain safe. The fan projects were also well-orchestrated, such as the simultaneous opening of mobile phone lights with assigned stickers, which created a sea of rainbow colors.
iKON’s “Love Scenario,” the main track in the album Return, skyrocketed the group’s career. It not only topped seven music charts in Korea in February, the song also remained number one in the Gaon Weekly chart for six weeks. iKON is the only K-pop artist to achieve such a milestone.
While “Love Scenario” catapulted iKON to full-fledged stardom — and they sang the song twice for good measure in the concert — there were other equally notable pieces in the repertoire of the seven members: leader B.I, Bobby, Jay, Song, DK, Ju-ne, and Chan.
iKON kicked off with “Bling Bling,” the perfect hip-hop number to get the crowd into the groove, which was followed by “Sinosijak,” which, although it does not have any definite meaning in Korean, fueled more fire into the already pumped up audience. In “Rhythm Ta,” the boys found themselves dishing out some sexy hip moves.
During the intermission, the Filipino fans learned that member Jay had lived in Davao for a few months. He shared, to the delight of spectators, that he could even speak Visayan. But what was impressive about iKON is that during the concert’s extended intermissions — there were about three or four of them throughout the two-hour show — the group did not need an interpreter to get their message across. Bobby was very fluent in English, B.I was consciously checking his grammar as he spoke but was better at expressing himself than most Korean stars who have visited Manila. As their message was not lost in translation — Bobby was on hand to interpret for his fellow members — the audience fully understood the group when they expressed appreciation towards the very enthusiastic and supportive crowd.
Some members performed either solo or as a unit. The vocal line sang the ballad “Perfect” while Bobby performed “Holup” with such gusto that it was easy to understand why he is the most recognizable iKON member. B.I sang “One and Only” and later, “Anthem,” a duet with Bobby.
Pulp was on point when it came to the stage and set — providing extended and second stages for the fans; three large LED screens at the center with two more on each side; and stage lighting that was vibrant but not too overpowering. Although there were some instances when red seemed overused, this was understandable as this is the group’s official color.
Aside from “Love Scenario,” the highly infectious “B-Day” also deserved an encore. “Dumb and Dumber,” “Freedom,” “Best Friend,” “Cocktail,” “My Type,” and “Everything” were also part of the set list. The most awaited “Killing Me” had dancing and chanting “jukgetda.” It was a balanced mix of hip-hop, ballads, and dance numbers. While the members are not as meticulous with their choreography as other boy bands, iKON made up for it with their powerful vocals and fervid delivery.
iKON also had some treats for the Manila leg of the world tour, singing some songs that were not part of the original setlist such as the newly released “Goodbye Road,” from the New Kids: The Final album.
While it has a negative connotation, being second best is not always bad. iKON has, in fact, overtaken some of its contemporaries by leaps and bounds. Indeed, runners-up can, and rightfully so, secure that elusive iconic status.

Awards for Discovery Country Suites

DISCOVERY Country Suites took home several awards, including Best Bed and Breakfast in Asia, at the Haute Grandeur’s Global Hotel Awards held last Nov. 1 at Palazzo Versace Dubai.
It also won the awards for Most Unique Guest Experience in the Philippines, Best Hotel View in the Philippines, and Best Country House in the Philippines. The bed and breakfast in Tagaytay is known for its views of Taal Lake and personalized service. It is part of The Discovery Leisure Company.