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Vote of confidence

Per ESPN, the Thunder have picked up their option on the last year of head coach Billy Donovan’s contract. Needless to say, it’s a vote of confidence on the way the former Gators mentor has steered their campaigns since he arrived on the scene in 2015. There were plenty of rough moments, but more highs than lows, and not simply because he had at his disposal a roster deep in talent. Once he got the hang of the tendencies of his charges, he went about instituting a system designed to maximize their specific skill sets, to significant success.
True, Donovan’s cause depends in large measure on the willingness of top player Russell Westbrook to toe the line. In previous seasons, the latter has been both the Thunder’s greatest asset and biggest weakness, intensely bent on winning but prone to flights of individual fancy that went either way. So far through the 2018-19 campaign, however, he has managed to rein in the negative proclivities of his brightest star, taking pains to underscore that supernovas reach unparalleled peaks, but die out fast — not quite the ideal for a franchise bent on moving to the top and then staying there.
Certainly, the numbers show the strides Donovan has made year on year. Apart from so far steering the Thunder to within a game of first place in the highly competitive West, he has managed to get his charges subscribing to collective objectives. Westbrook is still Westbrook, a triple-double machine who starts the offense but, unlike before, doesn’t necessarily end it. If anything, it can be argued that the closer role has been taken over by Paul George, currently second in ESPN’s telling “RPM wins” metric.
And so the Thunder went about cementing their relationship with Donovan. They could have waited until the end of the season to do so. Instead, they got rid of any worries he might have had about his future and thereby allowed him to keep his focus on the team’s goals. And because he’s signed on until 2020, he has effectively chucked the lame-duck status that could have undermined his leadership. As it stands, Westbrook, George, and the rest have bought in, ensuring for him commitment from above and below. It’s now up to him to reward the trust with results.
 
Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994.

The Cross Collection for Scuderia Ferrari makes a perfect holiday gift

We never run out of our need for something to write with. Whenever we have a sudden idea in mind, an important item or task to take note of, or a thoughtful letter to send, the pen is a very powerful instrument, like handling a magic wand. If you still wonder what to give this Christmas, why not make your presents more special by giving your loved ones and yourself a worthwhile treat — something worth using and treasuring for years?
Christmas is a great time to give the perfect gift with the fresh Cross Collection made by craftsmanship icon Cross in collaboration with Formula 1™ racing team Scuderia Ferrari. Drawing inspiration from the spirit of the distinguished racing team that has captured the world’s imagination, Cross has created a thrilling collection of exclusive fine writing instruments and gift sets suitable not just for Ferrari fans alone, but for everybody who loves to write as a task or as an art.
The Cross Collection for Scuderia Ferrari is worth your eye’s gaze and your hand’s grasp for its head-turning design and finely-tuned performance. Each pen stands out for its aerodynamic silhouettes with hand-polished finishes inspired by bold Scuderia Ferrari signature colors of Rosso Corsa Red, Modena Yellow, Polished Metal, and Glossy Black. Plus, each finish is coupled by a custom-designed clip inspired by the nose and cockpit of a Formula 1™ racecar as it bears an authentic Scuderia Ferrari emblem.
In this collection, Cross’ elegant craftsmanship and performance-ensuring engineering deftly collaborate to bring authentic Scuderia Ferrari racing design details to the iconic Cross Townsend, Century II, and Classic Century profiles.
Inside the sleek Cross Townsend Collection for Scuderia Ferrari are pens available in Glossy Black Lacquer, Glossy Rosso Corsa Red Lacquer, and Brushed Black Etched Honeycomb Pattern.
Meanwhile, Cross Century II Collection for Scuderia Ferrari expresses all the speed and excitement of Formula 1™ racing with the Glossy Rosso Corsa Red, Polished Chrome, and Glossy Black Lacquer pens.
Lastly, Cross Classic Century Collection for Scuderia Ferrari authentically bears the Scuderia Ferrari soul with pens in Matte Modena Yellow Lacquer, Matte Black Lacquer, and Matte Rosso Corsa Red Lacquer.
Each finish of the three collections is available in ballpoint, rollerball, and fountain pen.
Regardless if you are a fan of racecars or not, this collection wraps the excitement of Scuderia Ferrari into a stunning writing instrument that fits like a glove as it races across any page. The Formula 1™ racing soul lives within each writing instrument in this officially licensed collection.
The Cross Collection for Scuderia Ferrari is available in Rustan’s and selected Scribe stores nationwide.
For more information, visit www.newtrends.ph/cross or connect thru www.facebook.com/crossphilippines.

Overseas Filipinos’ cash remittances (October 2018)

MONEY sent home by overseas Filipino workers (OFWs) grew by its fastest clip in six months in October, according to data the Bangko Sentral ng Pilipinas (BSP) released on Monday, prompting analysts to expect household spending that fuels overall economic growth but whose growth has slowed lately to have picked up this quarter. Read the full story.
Overseas Filipinos’ cash remittances (October 2018)

Oct. remittance data bare GDP boost

By Elijah Joseph C. Tubayan
Reporter
MONEY sent home by overseas Filipino workers (OFWs) grew by its fastest clip in six months in October, according to data the Bangko Sentral ng Pilipinas (BSP) released on Monday, prompting analysts to expect household spending that fuels overall economic growth but whose growth has slowed lately to have picked up this quarter.
OFW cash remittances increased by 8.7% to $2.474 billion in October from $2.275 billion a year ago. The latest inflows were also 10.59% more than the $2.237 billion logged in September.
“The top countries that contributed to the increase were the United States (US), Canada, and Taiwan,” the BSP said in a statement accompanying the data.
“Cash remittances from… land-based ($18.7 billion) and sea-based ($5 billion) workers grew by 2.8% and 4.2% year-on-year, respectively.”
October inflows brought year-to-date cash remittances to $23.768 billion, 3.1% more than the $23.06 billion recorded in last year’s comparable 10 months.
The 10 months to October saw the US, Saudi Arabia, United Arab Emirates, Singapore, Japan, United Kingdom, Qatar, Canada, Germany and Hong Kong accounting for 79% of cash remittances.
For Michael L. Ricafort, economist at the Rizal Commercial Banking Corp. (RCBC), OFWs sent more cash to help their families cope with fast increases in prices of widely used goods and at the same time to take advantage of the peso’s weakness.
“Higher prices of goods and services may have required greater amount of OFW remittances needed to be sent back home and converted to pesos, assuming all other factors are the same,” Mr. Ricafort said in an e-mail when sought for comment.
October saw the second straight month of nine-year-high 6.7% inflation, before the pace eased to six percent in November.
Mr. Ricafort also recalled that global oil prices hovered around four-year highs in October, “thereby could have increased the demand for OFWs at that time for host countries that heavily depend on oil revenues (such as for large infrastructure projects), especially host countries in the Middle East, where there is a large concentration/demand for OFWs.”
The peso was trading at the P54-per dollar level from the start of October until the middle of that month, before it tapered to P53.535 at the end of the month. Mr. Ricafort said that made it “attractive to… convert more OFW remittances to get more peso proceeds after waiting for the US dollar/peso exchange rate to top out/reach the peak.”
Ruben Carlo O. Asuncion, chief economist at Union Bank of the Philippines, Inc. (UnionBank), said in a separate e-mail that the increase in OFW cash remittances was to be expected as Christmas approached.
“The 8.7% growth level is a good sign for end-year cumulative remittances. The usual seasonal push is driving this growth. OFWs are sending for Christmas spending of households… This definitely bodes well for year-end remittance growth numbers. I expect a stronger inflow in the coming months driven by Christmas season OFW household spending,” he said.
The third quarter saw household spending growth slowing to 5.2% from 5.4% in the same three months last year, and from 5.9% in the second quarter, which was blamed on high inflation.
State economic managers have said that they were “concerned” about the slowdown. Household consumption contributed about 67.18% to gross domestic product (GDP) in 2018’s first three quarters, according to Philippine Statistics Authority data.
At the same time, economic planners have expressed satisfaction that growth is increasingly fueled by investments. Among others, fixed capital formation grew 16.5% last quarter, slower than the preceding three months’ 21.2% increment but still bigger than the year-ago 7.8%.PSA data also showed government spending growth picking up to 13.1% in the first three quarters from 5.5% a year ago.
Hence, both economists expect that household spending could help push up GDP growth this quarter.
“It definitely can be a catalyst,” UnionBank’s Mr. Asuncion said.
“As almost always, household consumption has helped buoy economic growth. It is expected that there will be an uptick in household spending in Q4 because of inflation easing and Christmas spending.”
For RCBC’s Mr. Ricafort, “[r]elatively stronger growth in OFW remittances could continue to sustain up to the following month (November 2018), partly due to lower base/denominator effects and the growth could taper by December 2018 partly due to higher base/denominator by then.”
The economy grew by 6.1% in the third quarter, averaging 6.3% year to date against the government’s current 6.4-6.9% GDP growth target for whole-year 2018 that was revised down from a 7-8% initial projection.
Overseas Filipinos’ cash remittances (October 2018)

House measure seeks to form office to monitor, push priority infrastructure

A BILL establishing a one-stop shop for priority infrastructure projects has been filed at the House of Representatives.
House Bill No. 8755, authored by Quirino Rep. Dakila Carlo E. Cua, intends to fast-track infrastructure project planning and construction. “The one-stop shop facility shall facilitate all necessary procedures and communications with all relevant implementing agencies, government agencies, and contractors,” Mr. Cua said in an explanatory note.
The office, to be led by a project manager who will be appointed by the President with the rank of undersecretary, will prepare timetables for priority infrastructure projects, monitor and ensure related activities follow their respective timetables, facilitate processes and securing of requirements from all relevant state agencies, acquire right of way including through exercise of power of eminent domain, serve as contractors’ contact when dealing with state offices, and recommend actions to the President to resolve bottlenecks and other issues hindering project progress.
Sought for comment, Philippine Chamber of Commerce and Industry Chairman George T. Barcelon said in a telephone interview: “I think we need an agency to prioritize what are the infrastructure projects that would be most beneficial.”
“It’s very important that there are regional developments, such as farm-to-market roads, irrigation projects and maybe with an agency like that, they can be more responsive to some of the needs of the other regions.”
The government has embarked on an infrastructure program that will see some P8 trillion spent till 2022, when President Rodrigo R. Duterte ends his six-year term. — C. A. Tadalan

DoF still banks on watered-down tax amnesty program to deliver

THE DEPARTMENT OF FINANCE (DoF) remains hopeful that an impending tax amnesty program that has been ratified by Congress — but without two provisions initially designed to help verify claims made by delinquents in their applications — will grow the ranks of taxpayers in the country.
Congress ratified the tax amnesty measure last week which provides relief for those with unpaid national taxes for years up to 2017. It is now up for signature by President Rodrigo R. Duterte.
The final ratified version did not contain provisions to relax bank secrecy restrictions that would have helped verify whether participating individuals and business would be truthful about asset and other declarations that would be the basis for amnesty payment, as well as for automatic exchange of information (AEoI) with foreign tax authorities to help detect cross-border tax evasion and money laundering.
“We hope relevant taxpayers, and those who are currently non-taxpayers, will come out of the woodwork and avail of the generous amnesty provisions,” Finance Assistant Secretary Antonio G. Lambino II said in a mobile phone message on Saturday, even as he added: “… [w]e regret not having the provisions on the lifting of absolute bank secrecy and AEOI in the bill.”
“While the bill was supposed to allow taxpayers a fresh start via amnesty, it was also meant to signal a more aggressive fight against tax evasion. Those two missing provisions would have been formidable tools to detect and go after tax evasion.”
Legislators and tax experts said that inclusion of the said measures would have violated the Constitutional provision that a law must have only one subject matter.
The DoF has argued that the deleted provisions were integral parts of the program.
The House of Representatives Ways and Means committee leadership has said that it is open to filing another bill containing the deleted provisions and will wait for DoF to propose a draft.
Only the first of up to five planned tax reform packages has been enacted so far which cuts personal income tax rates and either increases or adds levies on various items.
President Rodrigo R. Duterte had asked for legislative approval of all the other packages by yearend, since lawmakers are expected to be increasingly distracted by campaigning for the May 13, 2019 mid-term elections.
Congress is currently on a Dec. 15, 2018-Jan. 13, 2019 break and its resumed session on Jan. 14-Feb. 8 is not expected to be as productive due to election campaigning, while the May 20-June 7 session is expected to see poor attendance in the aftermath of the polls.
The remaining tax reform packages involve corporate income cuts and removal of redundant fiscal incentives; higher taxes on minerals, tobacco and alcohol; a universal property valuation system as well as rationalization of taxes on financial instruments.
Although the main objective of tax amnesty is to grow the tax base, the DoF had expected the program in its original version to generate P41 billion in additional revenue, and only P26 billion without the easing of bank secrecy and the AEoI.
The last amnesty program was in 2008 from which the government raised P4.91 billion. Prior to that, there were 17 offers since 1972.
The latest planned program imposes an amnesty charge equivalent to a portion of taxpayers’ outstanding unpaid taxes in exchange for immunity from civil, criminal and administrative penalties. It will cover unpaid estate tax, other national taxes as well as delinquency in specific circumstances. Taxpayers will be given a year from issuance of implementing rules to avail of amnesty, except in the case of estate tax amnesty for which interested parties will be given two years to avail. — Elijah J. C. Tubayan

China’s outcast steel machines find unwelcome home in SE Asia

MANILA — China banned induction furnaces last year in a crackdown on polluting producers of low-quality steel, but these machines have made their way to parts of Southeast Asia, hitting domestic steelmakers and fueling safety and environmental concerns.
The Philippines and Indonesia have seen an influx of these furnaces since China prohibited their use for steelmaking in June 2017, eliminating 140 million tons of capacity — or just over the combined output of the United States and Germany.
The two Southeast Asian nations — big steel importers with fast-growing economies — are ideal markets for these induction furnaces (IFs) that produce cheaper steel.
But some big Indonesian and Philippines steelmakers claim that IF-produced steel does not meet national quality standards and poses a major risk in these countries that are prone to earthquakes and typhoons. They have urged their governments to ban IFs.
Unlike electric arc furnaces, IFs have limited or no capacity to remove impurities in the process of producing steel, resulting in inconsistent product quality. Since most IFs in the two countries produce rebar, which is used in construction, rival steelmakers say that poses safety hazards.
In the Philippines, “the rebar market is under attack from IF producers” which sell the product 20% cheaper than those from electric arc furnaces, said Roberto M. Cola, president of the Philippine Iron and Steel Institute.
In Indonesia, after China banned IFs, the furnaces were imported by factories to reduce steelmaking costs at the expense of safety, said Silmy Karim, chief executive of top Indonesian steelmaker Krakatau Steel.
“Imagine, Indonesia is an epicenter for earthquakes, so we must be vigilant. They must be prohibited,” said Mr. Karim, who is also chairman of the Indonesian Iron and Steel Association.
‘WHOEVER WANTS TO BUY’
In banning IFs, China was also addressing the overcapacity that has dogged its steel sector for years. It hasn’t stopped the sale of these machines to buyers outside China, mostly sold as second-hand equipment.
A trader based in top Chinese steel-producing city Tangshan buys and sells IFs with capacity of between 0.25 to 60 tons to, he says, “whoever wants to buy.”
“I can also send it to overseas buyers as long as their country is okay with importing second-hand equipment,” said the trader who spoke on condition of anonymity, adding there are container companies that process the shipping.
Another Tangshan-based trader said many of these machines are shipped to Southeast Asian nations such as Indonesia and Cambodia, most of them exported as parts and then assembled at the final destination.
The Association of Southeast Asian Nations (ASEAN) Iron and Steel Council urged member governments in January to prohibit the imports of Chinese IFs for use in steelmaking, saying the region has become a preferred destination for the “obsolete and unwanted equipment from China.”
“If it’s an ASEAN directive, all governments are inclined to comply,” said Trade Undersecretary Ruth B. Castelo from the Philippines, whose government has launched an investigation of IFs that is currently underway and is expected be completed in the first quarter of 2019.
The total capacity of IFs in the Philippines has surged to 400,000-500,000 tons from 150,000-200,000 tons two years ago, said Mr. Cola, who is also vice-president of leading Philippine steelmaker Steel Asia Manufacturing Corp. In Indonesia, 30-40% of domestic rebar producers use IFs, said Karim of Krakatau Steel.
Elsewhere in the region, Vietnam has not seen any movement of IFs from China since the latter banned the furnaces in 2017, said Chu Duc Khai, vice-chairman of the Vietnam Steel Association, adding that the government is not allowing new investment in IFs.
There are also no new IF investments in Thailand with the rebar market there facing overcapacity, making it unattractive for new entrants, said Wikrom Vajragupta, chairman of the Thailand Iron and Steel Industry Club.
Mr. Karim, in Indonesia, said he wrote to Jakarta’s environment ministry last month to draw attention to companies using IFs, but has yet to receive a response. Indonesia’s environment and industry ministries did not respond to repeated requests for comment by Reuters.
Authorities had to shut some plants using IFs in the Philippines for violating environmental laws, but allowed them to resume operations after they complied, Environment Undersecretary Benny D. Antiporda said.
Castelo, the Philippine trade official, said she visited three steel plants using IFs and found them either lacking or without anti-pollution devices.
“It’s not safe even for the workers and for the neighbouring areas,” said Castelo.
“(But) we cannot just ban it without justification so we have to go through due process,” she said, referring to the investigation into IFs. — Reuters

Catriona Gray wins Miss Universe


CATRIONA GRAY became the fourth Filipina to win the Miss Universe crown as she was adjudged Miss Universe 2018 during the pageant’s coronation night on Dec. 17 in Bangkok, Thailand
As the new Miss Universe, Ms. Gray joins Gloria Diaz, Margie Moran, and Pia Wurtzbach, who held the title in 1969, 1973, and 2015, respectively.
The 24-year-old Filipino-Australian beauty queen beat Tamaryn Green of South Africa and Sthefany Gutiérrez of Venezuela who were named first and second runner-up, respectively, in a pageant that included a transgender contestant for the first time in the 66-year-old pageant— Miss Spain Angela Ponce, 27.
“My heart is filled with so much gratitude. There were moments of doubt where I felt overwhelmed and I felt the pressure,” said Ms. Gray,
Ms. Gray previously competed in the Miss World 2016 pageant where she finished in the Top 5.
In January this year, Ms. Gray joined the Binibining Pilipinas pageant where she bagged the crown for Miss Universe Philippines 2018 on March 18 at the Smart Araneta Coliseum.
During the days leading to the final night of the pageant, Ms. Gray graced the stage with a costume adorned with indigenous tribe patterns while pulling a giant Christmas lantern behind her in the National Costume section, and her slow-motion twirl in a hot pink swimsuit during the preliminary Swimsuit competition became a hit on social media.
As a contender for the Top 5, Ms. Gray was asked about her opinion on the legalization of marijuana.
She replied, “I’m for being used in medical use but not so for recreational use. Because I think if people were to argue, ‘What about alcohol and cigarettes?’ So everything is good but in moderation.”
After she was crowned, Ms. Gray told reporters the question was “definitely relevant” and “an active topic,” in an apparent reference to the war on drugs in the Philippines that has killed thousands of Filipinos and caused international alarm.
Moments before the crowning of the new Miss Universe, Ms. Gray advanced to the Top 3.
For the final question and answer portion, the contestants were asked, “What is the most important lesson you’ve learned in your life and how would you apply it to your time as Miss Universe?”
Dressed in a flaming red Mayon volcano-inspired evening gown by Capampangan designer Mark Tumang, Ms. Grey answered, “I work a lot in the slums of Tondo, Manila and the life there is very… it’s poor and it’s very sad and I always taught myself to look for the beauty in it, to look in the beauty of the faces of the children, and to be grateful and I would bring this aspect as a Miss Universe — to see situations with a silver lining and to assess where I could give something, where I could provide something as a spokesperson. If I could teach also people to be grateful, we could have an amazing world where negativity could not grow and foster, and children would have a smile on their face.”
REACTIONS
Congratulations quickly poured in for the TV host, singer, model, stage actress, and beauty queen.
Fellow Miss Universe Pia Wurtzbach posted this on Instagram: “This girl is on fire! You started strong and captured our hearts with your grace, commitment and fearlessnes! And that walk… how could anyone forget that walk? Now, you’ve conquered the Universe! This is just the beginning. Congratulations, Miss Universe 2018 @catriona_gray! You have made us all proud! Raise your flag!”
Presidential Spokesperson Salvador S. Panelo released a statement of congratulations from the Palace for her win.
“Ms. Gray truly made the entire Philippines proud when she sashayed on the global stage and showcased the genuine qualities defining a Filipina beauty: confidence, grace, intelligence and strength in the face of tough challenges. In her success, Miss Philippines has shown to the world that women in our country have the ability to turn dreams into reality through passion, diligence, determination and hard work. ”
Meanwhile, Vice-President Leonor G. Robredo made reference to their mutual roots in the Bicol Region — Ms. Robredo hails from Camarines Sur while Ms. Gray’s mother is from Albay — in her congratulatory note, saying “Mabuhay ang mga Bicolana!”
The vice-president focused on unity and inspiration in her note. “Your victory has brought happiness to millions of households throughout our nation. Regardless of different backgrounds and allegiances, in this, you have brought us together,” said Ms. Robredo. “With the eyes of the world and the entire Filipino nation on you, you chose to highlight your work with the poor, and to send a much-needed message of hope to all. With those inspiring words, you already became a winner in my heart, and, I am certain, in those of many others.”
Senator Paolo Benigno “Bam” Aguirre Aquino IV released a statement that said “Thank you for showing the world that Filipino beauty is intelligent, creative and full of heart.”
Senator Mary Grace Poe-Llamanzares said that “A woman of style, substance and brave heart deserves the crown…The Filipinos will be by your side in your Miss Universe journey.” — Michelle Anne P. Soliman with Reuters

New reality show focuses on special needs animal rescue

AMANDA GIESE was 10 years old when she found a sick stray kitten in her neighborhood. The lemon-sized kitten, whom she called Jane Doe, was covered in fleas and was feeling cold.
“We didn’t think she would survive. I washed her and took to her to the vet[erinarian],” Ms. Giese said. Despite the vet telling her that the kitten had a small chance to survive, she challenged herself to take care of it. “I took the challenge and ran with it. The cat survived all the way to my 20s.”
Ms. Giese’s passion for animal welfare led her to pursue veterinary medicine and establish Panda Paws Rescue (“Panda” was her childhood nickname), a family run in-home rescue for animals which need medical and special care.
The organization’s animal rescue activities are now documented in a reality show.
The opportunity came when a member of the production staff of Animal Planet, who was aware of the animal rescue organization, reached out to them and pitched the idea for show.
“Animal Planet was looking for new content and new shows that [are] family centric,” said Ms. Giese, during a visit to the Philippine Animal Welfare Society (PAWS) headquarters in Quezon City on Dec. 7. She was in the Philippines for the Discovery Festival earlier this month.
Ms. Giese agreed to the idea of pursuing a reality show under the following conditions: that it be made up of documented and “not created content,” that it be family oriented or “something that everyone could watch,” and that it be educational for the public.
In the show, Ms. Giese, along with her husband and two children, launch rescue missions across the US to save animals with medical and special needs and help rehabilitate them to be ready for adoption. Through her animal rescue nonprofit organization, she aims to “end the homelessness, abuse, and neglect of all animals.”
TIPS FOR PET OWNERS
During the media roundtable, Ms. Giese shared tips on responsible pet ownership.
Ms. Giese advised people to have their pets spayed and neutered to control population growth.
“It requires pet owners to be responsible and that includes spaying (as the procedure for female pets is called) and neutering (for males) their own animals. I know a lot of people still have an old-school mentally about altering your animal, but we want to stop this overpopulation, we have to take care of our animals in our home,” she told the press.
For first-time pet owners, Ms. Giese advised that it is best to adopt adult or senior animals.
“Everyone wants the cute fluffy puppy, but it doesn’t stay a cute puppy forever. It’s less than a year that it will look like that. And you don’t know the[ir] personality or temperament, bad behaviors, and fears. You don’t really know what that puppy is going to be like no matter how hard you train it and socialize it,” she explained.
“But when you’re adopting an adult animal, you know exactly what the animal is like. You know their personality, what their fears are, their behaviors, you know what you’re getting.”
As for adopting stray animals, providing health care is priority.
“If it’s a friendly stray, take it to [your] vet, get the vaccination done, and the spaying and neutering done. Whether you’re going keep it or not, at least do that part to start, and see how it does in your home,” Ms. Giese advised. “If it does not work out, at least it’s vaccinated.”
Through the reality show, Ms. Giese hopes to educate the public on how to care of their pets as the owners’ contribution to the planet.
“Kindness is cool… Find what it is that you are passionate about and get out there and help make the planet a better place for everybody.”
Amanda to the Rescue airs on Tuesdays at 9 p.m. on Animal Planet. — Michelle Anne P. Soliman

Ayala targets to sell over 10,000 Kia vehicles in 2019

THE AUTOMOTIVE UNIT of Ayala Corp. (AC) targets to sell over 10,000 units of Kia vehicles in 2019, while also preparing for the introduction of three new models in the local market.
AC Automotive Business Services, Inc. said on Monday that it plans to exceed the record annual volume sold under its previous distributor.
Presenting Kia’s 15-year performance since 2003, AC Automotive Deputy Chief Executive Officer and Kia Philippines President Emmanuel A. Aligada noted that the most number of Kia vehicles sold was in 2015 at 10,010 units, translating to a market share of 3.1%.
“We’re looking at north of 10,000 by next year (for target sales)… In terms of volume, it is the lower priced vehicles. You saw that we are in 60% of the critical segments, and we are working to be competitive in several aspects,” Mr. Aligada said in a press briefing in Makati City on Monday.
Should the target be realized, this would show more than a 316% surge from 2018’s forecast sales of 2,400 units with a market share of 0.6%. Mr. Aligada said market share would also increase to 2% based on next year’s target sales.
The units will be imported from South Korea, where the Kia brand originated.
The company said it will also be unveiling three new models during its relaunch of the Kia brand on Jan. 30, 2019, bringing in models that were previously unavailable in the Philippines.
Kia Philippines currently has nine models in its 2018 lineup, with the cheapest one priced at about P635,000 to P798,000 called the Picanto. This is also the company’s best-selling model.
To support its target sales for next year, the company plans to add more dealers and outlets to its current network of 37 across the country.
Mr. Aligada said the company is setting its sights on 10 new outlets in Metro Manila alone. This will be in addition to the existing 10 outlets in the area, since more than half of the auto industry’s total sales come from Metro Manila.
The company also sees opportunities in provincial areas as far as Mindanao.
“We are working on two fronts, one is expand and improve the current setup because if we are to bring in volumes of sales therefore the current facilities must be worked on to allow for the incoming customers,” Mr. Aligada said.
“Beyond that, we’re also looking at areas where we are not: way up north, somewhere in South Luzon, even in Mindanao there are opportunity areas.”
Mr. Aligada also said they will work on strengthening partnerships with banks to ensure that they can offer customers competitive pricing packages for their units.
The Kia brand is the sixth under AC Automotive’s portfolio, following Honda, Isuzu, Volkswagen, KTM motorcycles, and Maxus which will be introduced next year. — Arra B. Francia

Spider-Man: Into the Spider-Verse swings to $35-M debut, Mortal Engines sputters

LOS ANGELES — Spider-Man: Into the Spider-Verse is the new box office king, collecting a solid $35.4 million during its first three days of release.
That’s hardly the biggest opening for an animated film this year, but it does rank as the best start for a cartoon in the month of December. Illumination’s Sing previously held that title, debuting with $35 million in 2016.
Another weekend release, Warner Bros.’ The Mule, snagged the No. 2 spot with $17 million. Clint Eastwood directed and stars in the R-rated crime drama about a nonagenarian who gets caught smuggling drugs for the cartel. The Mule, Eastwood’s first acting gig since 2012’s Trouble With the Curve, brought out a much older crowd. Moviegoers over the age of 35 accounted for 78% of audiences. In addition to Eastwood, The Mule cast includes Bradley Cooper, Laurence Fishburne, Michael Pena, and Dianne Wiest.
Not all newcomers were able to stick the landing.
Universal’s Mortal Engines launched in fifth place with a disastrous $7.5 million when it debuted in 3,103 venues. That could be catastrophic for the sci-fi saga that cost over $100 million to make. The post-apocalyptic steampunk adventure has fared slightly better overseas, picking up $34.8 million from 54 international territories, but Mortal Engines looks like it could still lose a sizable chunk of change. Peter Jackson produced the CGI spectacle, adapted from Philip Reeve’s YA novel. The middling reviews haven’t helped build momentum, and it carries a paltry 28% on Rotten Tomatoes. It’ll be an uphill battle for Mortal Engines to break through a crowded holiday frame and attract the kind of audience it needs to justify its expensive price tag.
Spider-Verse, based on Sony’s catalog of Marvel heroes, is resonating with a slightly older audience than most animated adventures. It also has plenty of time to make up ground during a holiday frame, though Warner Bros.’ Aquaman might cannibalize a bit of the superhero crowd.
Philip Lord and Christopher Miller produced Spider-Verse, which cost $90 million and takes place in a universe where more than one Spider-Man exists. Miles Morales (voiced by Shameik Moore), a Brooklynite with a Puerto Rican mom and an African American dad, puts on the Lycra-tights for this rendition. Mahershala Ali, Hailee Steinfeld, Jake Johnson, Brian Tyree Henry, Lily Tomlin, and John Mulaney round out the voice cast.
Spider-Verse has already racked up plaudits, including a Golden Globe nod for best animated feature, and boasts an impressive 97% on Rotten Tomatoes. Weeks before Spider-Verse opens in theaters, Sony announced the development of a sequel and spin-offs set in the shared multiverse.
Elsewhere, Fox’s Once Upon a Deadpool, a PG-13 re-release of Deadpool 2 picked up $2.6 million on 1,566 screens. That sum will get added to the initial run of Ryan Reynolds’ R-rated superhero comedy, which now sits at $322 million in North America and $736 million globally. The original version wasn’t released in China, but the new clean(er) cut means the Middle Kingdom could finally give the raunchy mercenary a chance.
A pair of animated flicks secured third and fourth place. Universal’s The Grinch continues to bring back solid returns, pocketing another $11.5 million this weekend for a domestic total of $239 million. Ralph Breaks the Internet earned $9.3 million in its fourth weekend of release, bringing its North American tally to $154 million. — Reuters

ALI allots up to P10 billion for Seda Hotel expansion

By Arra B. Francia, Reporter
AYALA LAND, Inc. (ALI) will be spending P8-10 billion until 2020 for the expansion of its homegrown hotel brand, as Seda Hotel enters new locations while expanding existing developments.
“The total investment is maybe around P8 to 10 billion for the future developments. This is the budget for today and the new properties (until 2020),” Seda Hotel Senior Group General Manager Andrea Mastellone said during a press briefing in Taguig City on Monday.
The listed property developer is set to launch in 2019 a second tower for Seda Bonifacio Global City (BGC) with 342 additional rooms, 214 rooms for Seda Cebu IT Park, and 293 rooms for Seda Residences Makati.
ALI decided to expand Seda BGC given the strong demand from the international corporate market in the area, noting that there are only a few players present in the city. Seda BGC is the company’s top performer in terms of revenues, with an average occupancy rate of 80% coupled with room rates of about P6,000 to P8,000 per day.
“The occupancy varies according to the areas, but the busiest is here in BGC. We’ve experienced fabulous occupancy since two months after opening, we were fully booked almost every day. We are still experiencing minimum 80%,” Mr. Mastellone said.
Across the group, Seda enjoys an average occupancy rate of about 80%.
All three hotels to be opened in 2019 will be the first in Seda’s portfolio to feature serviced residences, as the company looks to cater to guests who stay longer than two to three days.
In particular, all units at Seda Residences Makati and Seda Cebu IT Park will be serviced residences, while Seda BGC will have 48 serviced apartments.
“These guests are mostly business travelers on assignments for months and who would opt for temporary dwellings that are bigger than a hotel room, with basic home conveniences,” Seda Group Director of Sales and Marketing Melissa J. Carlos said during the press briefing.
Mr. Mastellone noted that the serviced residence concept will only be established in business districts, as there will not be much demand in the provinces.
The company will further unveil 350 rooms at Seda Manila Bay in Aseana City, Parañaque and 206 rooms at the second tower of Seda Nuvali.
The expansion forms part of the company’s plan to have 3,268 rooms across 11 locations by 2020. ALI currently has 1,863 room across nine locations, namely BGC, Cagayan de Oro, Davao City, Nuvali in Laguna, Iloilo, Quezon City, Bacolod, Cebu, and Palawan.
“With 1,863 rooms now in our portfolio and having achieved most of our annual targets, we are confident that our goal of building 1,405 more rooms in the next two years to hit our target of 3,268 rooms by 2020 is achievable and will be positively received by the market,” Ms. Carlos said.

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