Chicago police seek follow-up interview with Empire actor

February 19, 2019 | 12:02 am

CHICAGO — Chicago police have shifted the direction of their investigation into actor Jussie Smollett’s report of a hate-crime assault and are seeking to interview him again, after releasing two men detained for questioning in the probe, a police spokesman said on Saturday.
Mr. Smollett, 36, an openly gay African-American performer who plays a gay character on the musical hip-hop TV drama Empire, ignited a furor on social media last month when he reported he had been attacked on the street by two men yelling racial and homophobic slurs.
According to Mr. Smollett’s account, his assailants struck him in the face, draped a rope around his neck and doused him with an “unknown chemical substance” before fleeing. Police said the actor took himself to a hospital but was not seriously hurt.
On Wednesday evening this week, police said they arrested two Nigerian brothers described as “persons of interest” who were recognized from surveillance camera footage taken in the area of the alleged Jan. 29 assault.
The pair were freed two days later without charge, police told Reuters on Friday, in light of “new evidence” from their interrogation.
Police spokesman Anthony Guglielmi denied a media report on Thursday that detectives were looking into whether Smollett had staged the attack, saying then that there was “no evidence to say this is a hoax.”
On Saturday, Guglielmi issued a brief statement saying that “information received from the individuals questioned by police earlier in the ‘Empire’ case has in fact shifted the trajectory of the investigation.” He added, “We’ve reached out to the Empire cast member’s attorney to request a follow-up interview.”
Attorneys for Mr. Smollett said in a statement late on Saturday that he was “angered and devastated” by recent reports that the alleged attackers were people he is familiar with, including a personal trainer he hired to prepare him for a music video.
“He has now been further victimized by claims attributed to these alleged perpetrators that Jussie played a role in his own attack. Nothing is further from the truth and anyone claiming otherwise is lying,” said the lawyers, Todd Pugh and Jonathan Brayman. — Reuters

PhilRatings gives top grade to China Bank

February 19, 2019 | 12:02 am

CHINA BANKING Corp. (China Bank) bagged the highest credit score from Philippine Rating Services Corp. (PhilRatings), with the lender seen keeping its solid footing amid expansion plans.
In a statement, PhilRatings said the Sy-owned universal bank secured the “PRS Aaa (corp.)” rating, which is the top tier in the local debt watcher’s scale.
“The rating takes into account China Bank’s growth strategy, which supports expansion in scale, market reach, and product base, while keeping its solid franchise on its core market; synergies with its strong shareholder and experienced management; sound asset quality; improvement in funding profile; and the favorable outlook of the domestic banking industry,” PhilRatings said on Monday.
A firm with an “Aaa” rating is said to have a “very strong” capacity to meet its financial commitments when compared to other Philippine corporates.
China Bank is the seventh-biggest bank in the country as of September 2018, according to central bank data. Bank assets reached P727.706 billion, while total loans amounted to P417.581 billion during the period.
“China Bank’s brand franchise continues to expand, supported by its acquisitions in recent years that reflect its goal to grow further in scale, market reach, and product base,” the credit rater added, noting that the bank’s foothold on the Filipino-Chinese commercial segment has helped propel the bank over the past 98 years.
In particular, PhilRatings said the lender’s acquisition of its thrift unit China Bank Savings, Inc., as well as its investment banking arm China Bank Capital Corp., has helped broaden its services to cover big-ticket financing for corporate clients.
Asset quality also remains “sound,” with China Bank holding on to a low share of bad debts at just 1.4% as of end-2017.
“Ample risk mitigation measures vis-a-vis credit expansion will keep asset quality stable,” PhilRatings noted, while pointing out that bank loans remain supported by customer deposits.
Current and savings accounts also account for more than half of the bank’s deposit base, which is deemed “credit positive” as these are a more stable funding source.
The Makati-based debt watcher also pointed out that being part of the SM Group conglomerate allows China Bank to have special access to certain markets.
Shares in China Bank closed at P27.75 each on Monday, down 20 centavos or 0.72% from the previous day’s finish. — Melissa Luz T. Lopez

Tarlac-2 takes delivery of over 60,000 Trina solar panels

February 19, 2019 | 12:02 am

TRINA Solar Energy Development Pte. Ltd. has completed the delivery of more than 60,000 solar panels for PetroSolar Corp.’s Tarlac-2 solar farm.
In a statement on Monday, the company said 61,200 pieces of Trina Solar Tallmax TSM PD14 A model panels were delivered to the solar farm in Central Technopark, Tarlac City.
The panels, which were manufactured in Changzhou, China, have special reflecting film technology, which allows more light to be reflected back into the solar cell. This means the panels can absorb more energy and produce more electricity.
“The Philippine solar industry has tremendous room for development. We will continue to further expand our commitment to support renewable energy in the Philippines,” Trina Solar Philippines Country Manager Junrhey Castro said.
The Tarlac-2 project is a 20.4-megawatt (MW) solar power facility which is expected to be completed within the second quarter. It is located next to the Tarlac-1 Solar Plant.
PetroSolar is a joint venture of PetroGreen Energy Corp. (PGEC) and EEI Power Corp. PetroGreen is the renewable energy arm of publicly listed PetroEnergy Resources Corp.
Trina Solar, founded in 1997, is a leading provider of integrated solar energy solutions. — V.M.P.Galang

Tagaytay Highlands celebrates 25 years

February 19, 2019 | 12:02 am

TAGAYTAY Highlands, a luxury mountain resort complex developed by the SM Group, is celebrating 25 years this year.
Starting as an exclusive golf club in the 1990s, Tagaytay Highlands is home to the 18-hole Highlands Golf Course and the championship 27-hole Midlands Golf Course, which offers views of Taal Lake and Volcano.
Tagaytay Highlands is also known for its country club, as well as the cable car and Swiss funicular transport systems.
“Tagaytay Highlands continues to widen its already extensive portfolio of themed residences with development firsts,” the company said.
Residential developments include the North American log cabin communities, Woodlands & Woodlands Point; Horizon Terraces with Asian-contemporary garden villas and suites; Greenlands; and Midlands’ themed communities such as Katsura, Yume, Sycamore, and Vireya.
“A home to be passed down to generations, a secure investment, a much-needed weekend getaway. Above all these things, Tagaytay Highlands still has so much more to offer as it evolves and embraces progress and modern trends while keeping the promise of exclusivity and luxury,” the company said.

Wistful game

February 19, 2019 | 12:01 am

The Liar Princess and the Blind Prince
Playstation 4/Nintendo Switch
FROM THE outset, The Liar Princess and the Blind Prince has moved to tread off the beaten path. In a live broadcast early last year announcing, among others, its development, Nippon Ichi Software made sure to highlight its unique plot: It tells the story of a wolf needing to take on human form and pretend to be a princess in order to help a prince it accidentally blinded regain his sight. And, as subsequent public updates have likewise shown, it does so by employing a singularly flat aesthetic; it relies on a hand-drawn art style that emphasizes its Grimm Brothers-storybook tone.
That The Liar Princess and the Blind Prince was the winning pitch of an in-house competition held annually (and, NIS just had to point out, by a female web designer) served only to punctuate its distinctiveness. As with previous contest winners Yomawari: Night Alone and htoL#NiQ: The Firefly Diary, it figured to push the envelope in its treatment of the subject matter. And, with uncommon flair, it succeeds. It isn’t merely a puzzle platformer cum action adventure; it takes pains to accentuate its themes of love and companionship by having the lead characters take center stage together.
In The Liar Princess and the Blind Prince, gamers control one or the other depending on the situation, with the princess literally holding the hand of the prince and guiding him through challenging terrains and, whenever necessary, turning into her original wolf form to take care of hurdles or do battle with the forest’s threatening inhabitants. Meanwhile, the prince can aid in the journey by appropriately using — or placing, with directional cues — objects only he can hold. The mechanics result in an experience that summons the need for both quick reflexes and analytical thinking. Even as jumps require perfect timing, puzzles oblige solutions that can border on the complex.
To be sure, the gameplay of The Liar Princess and the Blind Prince takes a little getting used to and, admittedly, can lead to frustration. Even those long familiar with side scrollers that test hand-eye coordination will find it exacting; its unforgiving nature makes the task of navigating two characters at the same time through rough patches difficult at best. On the flipside, it never fails to immerse, and the manner in which it does begets further engagement. Death is unavoidable, but leads to improvement; brain teasers stump, but never to the point of being unfair.
The Liar Princess and the Blind Prince benefits from complementary visual and sound designs that enhance the moods it wants to convey at any given moment. The visceral feedback cannot be denied, and is a decided boon for a chronicle that constantly pulls at heartstrings. And, indeed, the art and music are favorable to both the narrative and the action; they enable gamers to better capture the nuances of the characters in the context of the tale as well as the trek. The journey to the witch who stands as the prince’s salvation and the wolf’s redemption is made more compelling.
Expectedly, The Liar Princess and the Blind Prince runs best on the PlayStation 4 Pro. That said, the Nintendo Switch also manages to acquit itself well, even undocked. Load times are fast on both platforms, with controller feedback exhibiting no lags and the muted colors and traditional look and feel of the title coming through as envisioned. Moreover, the deliberate pace, uncomplicated interface, and frequency of checkpoints make for technically stress-free gaming at home or on the go. Notably absent are the frame drops that plagued the previous release on the PS Vita.
In any case, the relatively short length of The Liar Princess and the Blind Prince comes off as both bad and good. Gamers are allowed to take their time en route to their destination, with optional collectibles (flowers and leaves) and objectives (concept art and background information) available for completionists to pursue. Nonetheless, it can be finished in less than 10 hours — and well under given the elective of a single button press to move on to the next stage. In the final analysis, it’s probably just as well; it neither feels rushed nor overstays its welcome. And, ultimately, it manages to do just what it wants: connect with and compel those who partake of it to invest emotions in characters and thereafter regard them with wistful longing.
THE GOOD:
• Outstanding story featuring layered characters
• Complementary art and sound designs
• Challenging puzzles, but not to the point of being unfair
• Leisurely pace; gamers never feel rushed
• Original Japanese voiceover is retained, augmented by English text
THE BAD:
• Short and can be finished in well under 10 hours, even by completionists
• Occasional gameplay glitches
• Iffy replay value
RATING: 8/10
POSTSCRIPT:
YIIK: A Post-Modern RPG — Ackk Studios’ labor of love is exactly what its title suggests: a role-playing game set near the turn of the millennium. It’s also decidedly unique: It gladly gives in to Oriental influences in look, sound, and thematic presentation, but employs the setting of a small Western town in thrusting characters at the forefront of a narrative rich in the mysterious and the supernatural. Alex, newly graduated from college and unsure of his direction in life, serves as the ideal principal protagonist, eager to spout theoretical concepts while dealing with practical realities.
YIIK: A Post-Modern RPG is by no means perfect. It makes no pretenses about its Earthbound roots, and because it draws inspiration from the Super Nintendo Entertainment System cult classic, it manages to be a winsome look at a not-too-long-ago era spiced up by alternate realities. Unfortunately, it also sets itself up for misplaced comparisons. As an aside, the turn-based combat mechanics, affecting in their use of otherwise-nondescript items as weapons, suffer from uneven pace and balance. On the whole, though, it delivers on its promise of 20-odd hours of immersive gameplay. (8/10)
Holy Potatoes! A Weapon Shop?! — Humor abounds in the title developed by Daylight Studios as part of its Holy Potatoes! series of management sims. You get to run a shop that forges all manner of weapons for characters that go by familiar-sounding monikers in an effort to protect the legacy of your famous grandfather. You’re free to adopt whatever leadership style — or lack thereof — you prefer, hopefully enabling the potato smiths under your tutelage to help grow your business. Be good at what you do, and heroes will spread the word and endorse your work.
The ultimate objective looks and sounds simple, but the journey winds up to be a blast because Holy Potatoes! A Weapon Shop!? offers you challenges without taking itself too seriously. You craft weapons, try to find buyers for them, make unique ones, and forage for the required supplies, the seeming tedium broken up by unexpected developments compelling you to take action, not to mention by the constant reminders that, hey, you’re a potato head dealing with other potato heads sporting names of venerable figures. When you interact with such notables as Claude (with — what else? — the Busted Sword), Luke Spudwalker, Wolverinnie, Nyandalf the Grey, and Hairy Pota(to), levity is assured. (8/10)

ING rolls out all-digital platform

February 19, 2019 | 12:01 am

ING BANK N.V.-Manila has ventured into the retail segment in the country by launching an all-digital banking service.
In a statement sent to reporters on Monday, the bank said it has rolled out its all-digital savings bank in the Philippines via mobile phone application.
ING’s digital platform allows customers to open a savings account through their mobile phones. The savings account does not require any minimum amount and maintaining balance.
Clients can also put money into the bank account through mobile check deposit and transfer money for free through PESONet, an automated clearing house initiated by the central bank.
“Globally, ING is known for pioneering ‘branchless banking’ since 1997 and is positioned as a leading digital bank in Europe and Australia. We are very excited that our expertise in digital banking is now also available to Filipino consumers,” said Hans B. Sicat, ING Bank country manager for the Philippines.
He added that the Philippines is the “most digital-savvy country in Southeast Asia” and that more Filipinos are looking for convenient ways to bank, based on the bank’s market research.
“We believe that Filipinos’ receptiveness to digital banking will continue to grow and the roll-out of initiatives under the National Retail Payment System would fuel this growth.”
“As the first all-digital bank in the Philippines, ING is in a sweet spot to champion digitalization in the banking sector and offer customers the most convenient way to bank,” Mr. Sicat added.
Late last month, Malaysian financial giant CIMB Bank formally launched its banking operations in the country through an all-digital and mobile-first retail bank.
ING Bank is a global financial firm offering retail and wholesale banking services in over 40 countries. It has been operating in the Philippines as an wholesale lender since 1990. — KANV

Getz focuses on health care, medtech

February 19, 2019 | 12:01 am

GETZ Healthcare Philippines is focusing on growing its health care business in the country this year, after divesting from the fast-moving consumer goods (FMCG) business.
“Health care around the region, in ASEAN, and in the countries we are in, is growing very very well and we believe we can add more value to the market where we are working,” James Sinkins, Getz Healthcare chief executive officer, said during a press briefing in Ortigas, Pasig, on Monday.
Formerly Getz Bros. Philippines, the company is now focusing on medtech marketing and promotion, as well as health care and pharmaceutical sales distribution.
Getz Healthcare Vice-President for Sales and Marketing Pete D. Miranda, Jr. said that the company is investing a total of $180 million this year for its businesses in different countries.
Aside from the Philippines, Getz Healthcare operates in Singapore, Malaysia, Taiwan, Australia and New Zealand, Pakistan, Thailand, Hong Kong and Macau, and Vietnam.
“The total investment is $180 million. We plan to grow threefolds in the next five years,” Mr. Miranda said.
Ian Grist, Getz general manager, said the company is about to open a distribution center in Taguig in March.
“We are in the process of commissioning new distribution center which is health care-centric…This is quite different from FMCG in terms of temperature control and quality assurance,” Mr. Grist said.
“We are not new to the Philippines and we’re not new to health care. We are positioned to really support the development of health care in the Philippines,” Mr. Grist said.
Getz Healthcare provides end-to-end services ranging from sales, marketing, logistics, regulatory, technical support to quality assurance.
“We have a team who carry medical devices. We do promotions and the hospitals and at the same time, we do logistics, warehousing, delivery, end-to-end, starting from regulatory then if the products are approved by the FDA (Food and Drug Administration), we can already market it,” Mr. Miranda said. — Reicelene Joy N. Ignacio

P.A. Properties expands San Fernando project

February 19, 2019 | 12:01 am

P.A. ALVAREZ Properties & Development Corp. (P.A. Properties) recently broke ground for Phase 3 of its 33-hectare residential development in San Fernando, Pampanga.
In a statement, the real estate developer said Trillium Park is a 9-hectare residential community within Bridgepointe Place.
There are 158 bungalow-type housing units available. P.A. Properties offers two model houses — Iris on a 60-square meter (sq.m.) lot, and Natalya on a 96 sq.m. lot.
Both houses will have two bedrooms, one toilet and bath, a kitchen, living area and dining areas, as well as a provision for carport.
Bridgepointe Place is a 33-hectare development which already has two communities — Sandsfield, a 14-hectare Asian-inspired community and Midori, a 10-hectare Japanese-themed community.
The development is located in Brgy. Del Rosario, San Fernando, Pampanga. It can be easily accessed through North Luzon Expressway (NLEX) through San Fernando Exit.
Nearby commercial and industrial establishments include Universal Robina Corp. (URC), Pepsi-Cola Distributors, Asia Brewery Inc., Del Monte Philippines, and the Coca-Cola Plant.
Academic institutions near the community are Our Lady of Fatima University Pampanga, New Era University-Pampanga Branch, and St. Scholastica’s Academy.
Bridgepointe Place is P.A. Properties’ first project in Pampanga, and the third one in the Northern Luzon. — Vincent Mariel P. Galang

How strong is the relationship between retail price of rice and headline inflation?

February 19, 2019 | 12:00 am

How PSEi member stocks performed — February 18, 2019

February 19, 2019 | 12:00 am

Here’s a quick glance at how PSEi stocks fared on Monday, February 18, 2019.

Philippine Stock Exchange’s most active stocks by value turnover — February 18, 2019.

SEIPI sees 2019 electronics export growth of 3%

February 18, 2019 | 10:07 pm

THE Semiconductor and Electronics Industries in the Philippines Foundations, Inc. (SEIPI) said it set its 2019 export growth target at 3%, which is higher than its assumption for growth in the global industry of 2% and slightly higher than the industry’s growth in 2018.
In a phone interview on Monday, SEIPI President Danilo C. Lachica said the “3% approved by the Board is higher than the 2% global outlook” for the semiconductor industry.
The group is counting on the technological upgrade cycle in various markets, such as automotive, consumer electronics and office equipment.
“The bulk of the exports is semiconductors so that’s where (we’re)seeing the growth,” Mr. Lachica added.
The group also said 2018 was still a “record-breaker” that outstripped the midyear estimate issued by the Philippine Statistics Authority (PSA).
The country’s electronic exports grew in 2018, although at a much slower pace than the at least 11% annual growth recorded in 2017 and below industry’s full-year target.
Data from the PSA showed that 2018 electronics shipments totaled $37.57 billion, up 2.83%.
“Nonetheless, this is the second straight year for record electronics exports,” SEIPI said in a report on Monday.
Electronics accounted for around 57.2% of 2018 total merchandise exports, which fell 1.8% to $67.488 billion. Economists have attributed the weak exports mainly to weak global demand as a result of trade tensions between the United States and China.
Of the 2018 electronics exports, 73.76% consisted of semiconductor components/devices worth $27.71 billion.
The next biggest segment was electronic data processing with $6.25 billion worth of exports and the “other” electronics segment which accounted for $2.87 billion.
These were followed by office equipment at $817.11 million; telecommunication $591.16 million; consumer electronics $588.96 million;communication radar $560.44 million; automotive electronics $113.07 million; and medical/industrial instrumentation $56.09 million.
Hong Kong was the industry’s biggest market in 2018, accounting for 21.15% of electronics exports. Next were the United States and China at 13.61% and 13.17% respectively. — Janina C. Lim

Senate backs franchise for Leviste solar firm, limited to 13 provinces

February 18, 2019 | 10:06 pm

THE SENATE committees on public services and energy have recommended the approval of a “non-exclusive” franchise for Solar Para sa Bayan Corp. (SPSBC) subject to the adoption of amendments from the chamber.
In Committee Report No. 659 dated Feb. 7, the committees proposed amendments in House Bill No. 8179 for the SPSBC to be granted a “nonexclusive franchise” to operate distributed energy resources and microgrids using Solar PV Technology or a hybrid of it in “remote and unviable, unserved or underserved” areas covering 13 provinces.
The provinces named under the amendments are Aurora, Batangas, Bohol, Cagayan, Camiguin, Compostela Valley, Davao Oriental, Isabela, Masbate, Misamis Occidental, Occidental Mindoro, Palawan and Tawi-Tawi. The Department of Energy (DoE) is tasked to determine the areas to be served.
The bill defines remote and unviable areas as places where “immediate extension of distribution lines is not economically feasible due to the distance from the nearest facilities.” Unserved areas are places with no electricity access, while underserved areas are places with less than 24 hours’ power daily.
In the original House Bill No. 8179, SPSBC was allowed to provide electric power to customers in areas to be determined by the DoE, which must include unserved and underserved areas.
The SPSBC is an energy distribution company founded by Solar Philippines President Leandro L. Leviste, the son of Senator Loren B. Legarda. Several groups have opposed the granting of the company’s franchise due to possible conflicts with Republic Act No. 9136 or the Electric Power Industry Reform Act of 2001 (EPIRA law).
The Coalition for Rural Electrification or CoRE, a group composed of at least six entities in the power sector, is planning to challenge the franchise of SPSBC before the courts.
Under the bill, the company is also obligated to charge reasonable power rates as approved by the Energy Regulatory Commission (ERC). It is also directed to create employment opportunities and on-the-job training in their franchise areas.
The Senate committees also inserted amendments clarifying that the proposed franchise will not revoke existing franchises. They also proposed a provision stating that the franchise will “not affect the duty of DoE to promote private sector participation in the electrification of remove and unviable, unserved, and underserved areas.”
Other qualified third party microgrids may also participate “in any competitiveness selection to operate in any remove and unviable, unserved, and undeserved, as determined by DoE.”
The DoE, in consultation with ERC and other stakeholders, is directed to provide rules and regulations to operationalize the franchise “without compromising grid stability, the rate effect on consumers, and other technical and financial considerations” within the framework of the EPIRA law.
The committee report was signed by the chairpersons of the Senate committee on public services and energy, Senators Grace S. Poe-Llamanzares and Sherwin T. Gatchalian, respectively. It was also signed by 10 members of the committees and the four Senate leaders as ex-officio members.
Senator Paolo Benigno A. Aquino IV noted in the committee report that he would propose amendments “with regard to scope and any provisions that may be violative of the Phil(ippine) Competition Law.” Senate Minority Leader Franklin M. Drilon wrote that he has “serious reservations on constitutional issues” with the franchise. — Camille A. Aguinaldo