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Solid Cement secures $75-million loan for new Antipolo plant

CEMEX Holdings Philippines, Inc. (CHP) has secured a subordinated revolving loan worth up to $75 million to finance its new plant in Antipolo, Rizal.
In a disclosure to the stock exchange on Monday, the listed cement manufacturer said its operating subsidiary Solid Cement Corp. availed of a subordinated revolving credit facility from one of the companies under the Cemex group, Cemex Asia, B.V.
CHP said Solid has already made an initial drawdown worth about $40.7 million.
The loan is set to mature in six years, carrying a fixed interest rate ranging from 8.2%-10.2% annually, depending on the company’s consolidated leverage computed from its net debt and consolidated EBITDA (earnings before interest, taxation, depreciation, and amortization).
A subordinated loan indicates that it ranks after other debts to be paid should a company go bankrupt or be liquidated. In this case, CHP said the loan is subordinated to its facility agreement with BDO Unibank, Inc. last February 2017 worth $280 million.
“Solid is entitled to prepay the loan with any other proceeds (aside from a new loan from a related company outside the CHP group) at any given time and with no prepayment penalty whatsoever,” the company said.
CHP will use the proceeds of the loan to finance the construction and installation of Solid’s new cement plant. The facility will have a capacity of 1.5 million metric tons per year, and serves as an expansion of the cement line at Solid’s plant in a 42-hectare property in Antipolo.
The company announced last year that it will be spending $235 million to expand the Solid cement plant’s capacity, increasing its total output to 3.4 million metric tons.
The expansion comes amid the expected surge in demand for cement products under the government’s Build, Build, Build program, which will see the construction of more infrastructure projects in the country.
“With the national government’s Build, Build, Build infrastructure program, CEMEX continues its major role in supporting the construction of the government’s flagship projects which include airports, seaports, railways, roads and bridges across the country,” CHP President and Chief Executive Officer Ignacio A. Mijares said in an earlier statement during the announcement of the project.
CHP swung to a net loss attributable to the parent of P604.7 million in the first nine months of 2018, versus an attributable profit of P687.98 million in the same period a year ago. The company attributed the negative performance to higher input costs due to inflation.
The loss came amid an 8.11% uptick in revenues to P17.91 billion during the nine-month period.
Incorporated in 2015, CHP manufactures and distributes cement products under the Island and Rizal brands in Luzon, and Apo brand in the Visayas and Northern Mindanao areas.
Shares in CHP rose by 2.42% or four centavos to close at P1.69 each at the stock exchange on Monday. — Arra B. Francia

Why Avida Cloverleaf is a good investment

BALINTAWAK used to be synonymous with textile mills, wet markets and the cloverleaf-shaped interchange linking the North Luzon Expressway (NLEX) and EDSA.
But Balintawak’s image is getting an upgrade, as Ayala Land Inc. (ALI) continues to develop its mixed-use Cloverleaf project on the former site of textile mills owned by the Lim family.
The Ayala Malls Cloverleaf is now open at the master planned estate, while construction of Avida Towers Cloverleaf Tower 1 is now underway.
Seeing strong demand for its first tower, Avida Land launched last September the second of three planned buildings under Avida Towers Cloverleaf.
Ryla Czarina T. Durante, Avida Land Corp. project development associate manager, said Tower 2 has attracted buyers from Quezon City, as well as Caloocan, Malabon, and Navotas, and most were end-users.
She said the buyers recognized that Avida Towers Cloverleaf is a good investment because the area serves as the gateway to the north, with its access to the North Luzon Expressway and the Skyway Stage 3.
“Since the Skyway is connected to SLEX, they can also access the southern part of Luzon easier without going through the traffic on EDSA. The property is also connected to EDSA, as well as LRT and MRT stations,” she said during a briefing in Makati City on Nov. 21.
Ms. Durante described Avida Towers Cloverleaf as a “pocket urban haven.” And being located within an estate managed by the Ayala Property Management Group “offers a secure and organized living experience,” she added.
Also, Ms. Durante noted the price of units at Avida Towers Cloverleaf have doubled since Tower 1 was launched in July 2015.
“Since the launch of the first tower, the prices have gone up and this shows there’s high market potential and high appreciation of value in the property. With the developments and the infrastructure coming from the government as well, we foresee it is expected to increase over time,” she added.
Unit prices for Tower 2 range from P4.1 to P9.9 million, or about P180,000 per sq.m. To compare, Tower 1 had an average selling price of P95,000 per sq.m.
Tower 2 offers 848 units, with sizes ranging from studio at 23 square meters (sq.m.), junior one-bedroom (24 sq.m.), one-bedroom (33-37 sq.m.), and two-bedroom layouts (52 sq.m.).
The junior one-bedroom unit, which is priced at P4.4 million, is a new offering by Avida Land.
“We did that because we’d like to tap certain price points in the market. Given the awareness of buyers to attain financial prudence, the rising costs, this specific unit caters to that market because it’s very economical and efficiently designed. It has a partitioned wall, offering something similar to a one-bedroom, but in a smaller space,” Ms. Durante said.
In line with ALI’s sustainability efforts, Tower 2 has green building design features such as low emissivity glass windows and occupancy sensors.
“Our windows are designed in such a way that the glass when light passes through it, reflects the heat and maintains the temperature of the unit, effectively the home owners would use less the cooling appliances,” Ms. Durante said.
Rain water harvesting has also been incorporated in the tower’s design. The collected rainwater will be used for watering the landscaped areas.
“All of these items when taken together, makes their operations more efficient, and less cost for the residents,” she said.
Tower 2’s amenities include a clubhouse, swimming pool, children’s playground, indoor gym, landscaped spaces, and serenity gardens. It is set to be completed in 2024. — Cathy Rose A. Garcia

Jackson fans look to beat it down to Paris

PARIS — A portrait of Michael Jackson as King Philip II of Spain and an Andy Warhol print are among artworks on display at a show in Paris dedicated to the late pop star.
The Michael Jackson: On the Wall exhibition at Paris’ Grand Palais features an array of portraits and Jackson-inspired works including collages, videos and installations. The exhibition was first shown at London’s National Portrait Gallery in June.
Nicholas Cullinan, director at the National Portrait Gallery, hoped the Paris show would replicate the success of the event in London. He said 82,500 people visited the exhibition there, including celebrities such as Madonna.
Artist Kehinde Wiley’s Equestrian Portrait of King Philip II (Michael Jackson) was the last commissioned portrait of the singer before his death, and it shows the eccentric artist in regal mode, wearing armor and riding a horse.
Mr. Jackson, dubbed the “King of Pop,” died at the age of 50 in 2009 after an overdose of prescribed medicines. Mr. Jackson first rose to fame as a child star singing beside his brothers in the Jackson Five. He then pursued a solo career that led to huge, worldwide hits with songs such as “Beat It,” “Thriller,” and “Bad.” — Reuters

Avoid credit, buy emerging markets: Morgan Stanley’s plan for 2019

MORGAN STANLEY sees the US economy in a sharp slowdown next year, along with a pickup in global inflation that keeps monetary tightening intact. For investors, that means get out of credit, stock up on cash and head to emerging markets (EM), the bank’s strategy team said.
“The bear market is mostly complete for EM, has further to go in US credit and is about to begin for the US dollar,” strategists led by Andrew Sheets wrote in a note Sunday. Value should beat growth in stocks, Treasury yields should converge with euro zone counterparts and rising default rates will put strains on BBB-rated corporate debt, they said.
A key macroeconomic shift will be the end of outsized American economic outperformance, with US growth seen at an annualized rate of just 1% by the third quarter of next year. Stocks outside the US will do better than their American peers, according to Morgan Stanley.
With growth slowing and earnings weakening, leveraged corporate securities will get hit hardest, the strategists wrote. They advised a 5% underweight allocation to credit relative to benchmarks. Geographically, they see the “potential for Asia to bottom in 2019,” one of the few silver linings.
An American slowdown, and consequent pause in Federal Reserve tightening at some point in 2019, would offer emerging markets a respite from the pressure posed by Treasury-yield and dollar gains this year. The MSCI Emerging Market Index underperformed its developed-world counterpart for much of 2018, though that trend has started to shift more recently.
Emerging-market equities scored a “double upgrade” from Sheets and his team, to overweight from underweight, while the US was cut to underweight. China warrants an equal weight holding relative to other emerging nations, though that could change depending on the outlook for the trade war or faster easing by Chinese policy makers, according to Morgan Stanley.
As for commodities, Brent crude should get back to $80 a barrel by the end of 2019 — still below its highs of last month — though “much depends on December’s OPEC meeting,” the bank said.
Cash, which now returns more than the pace of inflation in the US if not Europe or Japan, got a 4% overweight recommendation in the report.
A Fed pause won’t offer much relief for American markets, the team warned, given a trend of faster inflation that would limit the central bank’s ability to shift gears entirely.
“A major challenge for U.S. assets next year is that they’re ‘boxed in’ — better-than-expected growth will simply mean more Fed tightening, while weaker-than-expected growth will raise slowdown risks, with limited scope for policy support,” the strategists wrote. “In a major change from the last 10 years, both good news and bad news create problems for U.S. markets.” – Bloomberg

Gov’t partially awards T-bill offer

THE GOVERNMENT partially awarded the Treasury bills (T-bill) it auctioned off yesterday, rejecting all bids for the shortest tenor amid tepid demand, as investors preferred to lock in their funds in longer maturities due to easing inflation expectations.
The Bureau of the Treasury (BTr) raised just P11 billion out of the P15 billion it intended to borrow. Total bids from market participants reached P29.28 billion — almost double the offer size but lower than the P30.28 billion received last week.
Broken down, the Treasury rejected all bids for the 91-day tenor, with tenders from investors amounting to P3.131 billion, below the P4 billion the government wanted to borrow.
Had the government proceeded with a full award, the three-month debt papers would have fetched an average rate of 5.641%, up 34.6 basis points (bp) from the 5.295% logged the previous auction.
Meanwhile, the government fully awarded the 182-day securities, borrowing P5 billion as planned. The offer was more than thrice oversubscribed as tenders reached P16.203 billion. The average yield climbed just 1.4 bps to 6.294% from the 6.28% quoted at the auction last week.
The Treasury likewise made a full award of the 364-day papers, accepting P6 billion out of the total bids totalling P9.945 billion. The debt notes yielded 6.55%, up 2 bps from the previous offer’s 6.53%.
The three-month, six-month and one-year papers were quoted at 5.434%, 6.194% and 6.574%, respectively, yesterday, based on the PHP Bloomberg Valuation Service Reference Rates.
Following the auction, National Treasurer Rosalia V. De Leon said the market’s preference is currently on the longer end as players see inflation decelerating in the coming months.
“I think the market preference now is…inching towards the longer part of the yield curve given the demand for the six-month and one-year (papers). They like to lock in rates at this point,” Ms. De Leon told reporters yesterday.
She added that market players are already pricing in the “easing of inflationary pressures” as well as the decline in oil prices.
Inflation stood at 6.7% in October, matching the previous month’s print which was a nine-year high. On a monthly basis, inflation eased to 0.3% from 0.9% posted in September.
The Bangko Sentral ng Pilipinas (BSP) has raised its benchmark rates by 175 bps this year following five straight hikes done to rein in inflation expectations.
“Ang laki na ng binagsak ng oil prices (Oil prices have gone down significantly) so there’s already the possibility that inflation is really going down already and the might also trigger a pause in terms of BSP policy action,” Ms. De Leon added.
Meanwhile, a bond trader said the results for the six-month and one-year papers were expected.
“We saw demand on the longer tenors probably because that’s where the client demand to serve the end-user requirements. They have to replenish the longer tenors,” the trader said in a phone interview, adding that the tepid demand for the three-month T-bills was also expected.
The Treasury is raising P270 billion from the domestic market this quarter through auctions of securities, offering P180 billion in T-bills and another P90 billion in T-bonds.
DOLLAR BONDS
Meanwhile, Ms. De Leon said there is “still some window” for the Treasury to offer dollar-denominated Republic of the Philippines (RoP) bonds this year despite the risk-off market sentiment amid geopolitical issues abroad.
“We’ll see — there’s still some window before the end of the year,” the Treasurer said.
She added that the market is on a wait-and-see mode on the developments regarding the meeting of Chinese and US Presidents Xi Jinping and Donald Trump during the G20 Summit, as well as the upcoming policy meeting of the US Federal Reserve, among others.
The Treasury said in September it is still looking at issuing RoP bonds this quarter after it offered 10-year greenback bonds last January amounting to $2 billion which carry a 3% coupon.
Ms. De Leon also noted that the BTr does not have any plans to issue retail Treasury bonds (RTB) given its healthy cash position.
“Walang (There’s no) RTB for this year. We have not really discussed RTB. We have a very strong cash (position) given the…good outcome of our auctions,” she said.
“We also did the tap [facility] and then we also have other inflows coming from the program loans that we also expect which will further deepen our cash (position).” — Karl Angelo N. Vidal

Luxury condo offers ‘best’ views of Pico de Loro Cove

FREIA, the latest residential condominium to be launched at Hamilo Coast in Nasugbu, Batangas, offers the “best, most prime views” of Pico de Loro Cove.
With its contemporary tropical architecture, Freia stands out from other developments in Pico de Loro.
“We actually planned this in such a way that we’ve gone through so much in terms of the planning stage, in terms of the layout, even the orientation of the building. The type of architecture for this one is what we call contemporary tropical architecture… It’s a type of architecture wherein the building adapts to the climate of the surroundings, even the landscaping. All in all, it’s very cohesive,” Jose Arlie C. Cruz, an architect and consultant from GF & Partners, said during a press conference last Nov. 16.
The luxury condominium does not block the other buildings in Pico de Loro, as it sits at the highest point of the mountain. The three mid-rise buildings of Freia were also designed at different elevations to align them with the mountain.
“We’ve also maximized the orientation… even the afternoon sun, it actually faces the shorter side, or the wall side. So, majority, the whole length faces the favorable winds,” Mr. Cruz said.
Freia is being developed by SM Prime, Inc.’s unit Costa del Hamilo, Inc. The groundbreaking for the project was held last Aug. 9. The three towers will offer 214 two-bedroom units which will all have balconies facing either the sea view of the West Philippine Sea or the mountain view of the Pico Mountains.
Unit sizes range from 67 square meters (sq.m.) to 146 sq.m., with prices starting at P10 million up to P30 million
Alexis Ortiga, senior assistant vice president for sales at Costa del Hamilo, said that the views are the main selling point of the condominium, noting it has “the best, the most prime views in Pico de Loro Cove.”
Freia’s three towers will have a total of nine penthouse units, which have three bedrooms each. Each bi-level penthouse will also have a 100-sq.m. open area wherein owners can hold gatherings. Penthouse units range from 300 sq.m. to 400 sq.m. with prices ranging from P40 million to P50 million.
As part of Hamilo Coast’s vision of building master-planned communities anchored on sustainable beach resort living, Freia will also use solar panels to power electricity in common areas and use ceiling-to-floor glass windows and doors “to maximize the view…”
“If the resident wants to avail of natural wind or natural breeze, they would just open the sliding glass doors,” Mr. Cruz explained.
A waste management system will also be implemented at Freia, with the goal of reducing the community’s carbon footprint.
Freia is the only condominium development within Pico de Loro Cove that will have its own resort-like amenities such as outdoor pools, a lounge deck, function rooms, and pocket gardens. The Pico de Loro beach is just a 500-meter walk from the condominium.
Unit owners will also get a lifetime membership to the adjacent Pico de Loro Beach and Country Club, giving them access to sports facilities, and other outdoor activities like mountain trekking, kayaking, cove boat tours, or bird watching.
Hamilo Coast is SM Group’s premier beach resort in Nasugbu, Batangas. It is approximately 90 minutes away from Manila via Cavitex and the new Ternate-Nasugbu road. — Vincent Mariel P. Galang

Benedict Cumberbatch gets dastardly in Grinch

By Angela Dawson, Front Row Features
HOLLYWOOD — After more than 50 years of stealing Christmas from the merry residents of Whoville, everyone’s favorite holiday party pooper is at it again in an all-new animated feature The Grinch.
Benedict Cumberbatch (Doctor Strange, Avengers: Infinity War) provides the voice of the green villain in this eighth fully animated feature from Illumination (makers of the Despicable Me movies) and Universal Pictures, in this latest iteration of Dr. Seuss’ beloved holiday story. The holiday comedy is directed by Scott Mosier and Yarrow Cheeney from an adapted screenplay by Michael LeSieur and Tommy Swerdlow.
The popular British actor spoke about getting into character as The Grinch, who lives on a secluded mountaintop high above the village of Whoville, where preparations are under way for the annual holiday celebration. The Grinch, whose sole companion atop Mt. Crumpet is his faithful dog Max, is literally green with envy over the unshakable happiness of the Whos. He plots to dress up as Santa Claus and steal their presents overnight on Christmas Eve. But when he discovers the next morning that they are still filled with the joy and spirit of Christmas, he has a change of heart. Previous iterations of the story by Theodor Geisel (a.k.a. Dr. Seuss) have appeared in a 1966 animated TV movie and a 2000 live-action feature film starring Jim Carrey.
Mr. Cumberbatch’s Grinch is slightly less mean and moviegoers are provided a backstory as to why he became so antisocial. He travels to Whoville to pick up some food for Max, and he isn’t as brutal with his pet as he plots to steal the Whos’ presents. He even manages to include a misfit reindeer in his dastardly plot to ruin Christmas. Mr. Cumberbatch leads an all-star voiceover cast that includes Rashida Jones, Keenan Thompson, Angela Lansbury and Pharrell Williams.
Q: What is your secret to providing the voice for the Grinch?
Cumberbatch: (I had to) find out who the character was and experiment with that a lot and push it around. That was kind of key for me. The writing is pretty blissful. They’re taking a lot from the book as well. That kind of jam, the poetry the riffing of rhyming couplets and the rhythm of that is important to different parts of the story to get who he is. There is a lot of backstory on him in this film so you know what motivates him. You have the usual actor questions about that I guess, even though he is a green fluffy guy who wants to steal Christmas and has a heart that is two sizes too small.
Q: What makes your Grinch different from previous Grinches?
Cumberbatch: A lot of things. One is the revelation that he was an orphan. The idea that he’s somebody who didn’t have family love and care and a home to return to and would naturally feel traumatized by seeing everyone else having that and question why he didn’t have or deserve that. It’s everything that makes him bitter. When he is offered love and forgiveness by Cindy Lou (voiced by Cameron Seely) and the Whos, that disappears. That makes him unique. You understand why he is the way he is but love it when he’s good again and his heart grows.
Q: What is your favorite Grinch character trait?
Cumberbatch: Emotional eating. I’m doing some of it today. I’m far from home and tired and hungry so I share that with the Grinch.
Q: Is there something positive about him?
Cumberbatch: I like that by the end of the film he figures out what the true value of Christmas is and life in general which is love and kindness, the things we need most.
Q: Do you personally love or dread the Christmas holidays?
Cumberbatch: I’m kind of in the middle. I’m not as high as a Who on it but not as grinchy as a Grinch. I don’t dread them, that’s for sure. I seem to put more pressure on myself to get them right than I need to. That’s sort of the materialistic thing creeping in ‘Got to get the presents. Got to get the right thing for the right person’ instead of remembering that people are grateful for you to be there. You have a good time with those you love.
Q: True. What scene was a lot of fun for you to voice?
Cumberbatch: A lot of them. The hunt for the reindeer, getting frozen as he climbs the mountain with Max. It was fun to get into that moment when the Grinch goes full psycho to steal the thing and the end as well, just playing that social misfit who has never experienced belonging before. This guy is out of his comfort zone and learning.
Q: What else makes this new version of the story different?
Cumberbatch: This version is very loyal to the book which is a very thin book but tiny phrases in the book are catapulted into massive set pieces. The amount of energy makes this a very special version of the story, the amount of visual invention, flair and freedom that the animation artists have and the message wraps up in a very wonderful, modern way. There is a lot of comedy and invention.
Q: Why do people like the Grinch so much?
Cumberbatch: I think people get a vicarious thrill out of how the Grinch behaves. How curmudgeonly he is, how the over magnified and overproduced elements of Christmas can be just too much. Also, he’s funny. That will be memorable about this Grinch. He’s very witty and self-aware. There is also a very strong, beating heart to this.

Energy Development Corp. to be delisted on Nov. 29

LOPEZ-LED Energy Development Corp. (EDC) will officially be removed from the Philippine Stock Exchange (PSE) on Thursday, Nov. 29.
In a notice posted late Friday, the PSE said its board of directors has approved EDC’s petition for voluntary delisting.
Prior to the approval, EDC had bought back 2.01 billion common shares at P7.25 each from the public during its tender offer of up to 2.04 billion common shares. This represents about 10.72% of the company’s outstanding voting shares.
The tendered shares were then crossed from the PSE on Nov. 5. With this, only around 0.16% of EDC’s outstanding common shares are held by the public.
EDC first announced its intention to delist from the local bourse in September 2017, as it pursued a corporate strategy that would “require greater flexibility” to support the company’s long-term growth.
Incorporated in 1976, EDC has grown to be the country’s largest renewable energy producer, holding 1,472 megawatts (MW) of capacity from a combination of hydro, solar, and wind power plants. It also has almost 1,200-MW from geothermal energy sources.
The company generated a net income attributable to the parent of P6.07 billion in the first nine months of 2018, 2% higher year-on-year as gross revenues rose 13% to P27.75 billion. — Arra B. Francia

UnionBank raises P10.5 billion from maiden offer of peso bonds

UNIONBANK of the Philippines has priced its peso-denominated bond offer worth P10.5 billion, which will support its expansion plans.
In a statement to the local bourse on Monday, the Aboitiz-led UnionBank said it has more than doubled the issue size of its maiden peso bond issue to P10.5 billion from the originally announced P5 billion.
The two-year debt notes carry a coupon rate of 7.061% per annum to be paid quarterly.
The offer received “overwhelming” investor demand as the issue size was already over twice covered. This prompted UnionBank to shorten the public offer period almost a week earlier than expected.
The fixed-rate bonds were priced at 30 basis points (bp) over the two-year [PHP Bloomberg Valuation Service] government benchmark rates quoted on Nov. 21.
The rate is at the lowest end of the lender’s indicative guidance of 30-50 bps communicated during the bank’s road show in Manila, Cebu and Davao earlier this month.
The bonds will be issued and listed on the Philippine Dealing & Exchange Corp. on Dec. 7.
The offering marks the first tranche of the bank’s P20-billion bond and commercial paper program approved by UnionBank’s board last Aug. 31.
Jose Emmanuel U. Hilado, UnionBank Chief Financial Officer, said the lender is encouraged by the results of its maiden local currency bond issuance.
“The proceeds of the bonds will help support our strategic business expansion plans, while providing a new shorter dated investment instrument to our institutional and retail clients,” Mr. Hilado was quoted as saying in the statement.
HSBC and Standard Chartered Bank served as the joint lead arrangers and bookrunners of the transaction. The lenders were also the selling agents alongside UnionBank.
Lenders can now raise fresh funds through corporate bonds with greater ease as new rules do away with having to secure approval from the Bangko Sentral ng Pilipinas.
Metropolitan Bank & Trust Co. is looking to raise an additional P5 billion through another tranche of note offering after it raised P10 billion via fixed-rate bonds, part of its P100-billion program announced last month.
Bank of the Philippine Islands also raised P25 billion through peso-denominated papers, marking the first tranche of its P50-billion program.
UnionBank booked a P6.1-billion net profit in the first nine months, lower than the P6.4 billion tallied a year ago, due to increasing interest rates and its inability to issue credit for teachers.
Shares in UnionBank closed unchanged at P 65.90 apiece yesterday. — Karl Angelo N. Vidal

Amaia Land expands in Bulacan

AMAIA LAND Corp., a unit of Ayala Land Inc., is developing quality but affordable condominiums in the greater Metro Manila area, such as Amaia Steps Altaraza in San Jose Del Monte, Bulacan.
Located on Quirino Avenue corner Governor F. Halili Avenue in Brgy. Tungkong Mangga, Amaia Steps Altaraza is the company’s first affordable mid-rise condo in the 55-hectare township Altaraza Town Center.
“With Ayala Land’s expertise in building communities, Altaraza Town Center is projected to be the next growth complex in northeastern Manila,” the company said.
Amaia Steps Altaraza is located near shopping malls such as SM City San Jose del Monte and The District by Ayala Malls, supermarkets Waltermart and Puregold Tungko; educational institutions like STI College, Colegio de San Agustin, and APEC Schools; and transport hubs like the Metro Rail Transit Line 7, which is currently under construction.
Among the amenities at Amaia Steps Altaraza are a swimming pool, landscaped areas, a children’s play area and a clubhouse.

Animals, food, cars, and more at Discovery Festival

THE Discovery Festival returns to BGC’s Bonifacio High Street on Dec. 8.
Last year’s festival attracted some 100,000 visitors. This year, fans can “certainly look forward to a freshly curated concept” says a press release on the event, as “there will be more brands, more excitement, and so much more to love… showcasing our expanded portfolio — from food, travel, lifestyle, culture to adventure.”
Among the participating celebrities from Animal Planet, TLC, and Asian Food Channel will be are Animal Planet’s Amanda Giese, who will talk on how she rehabilitates and rehomes animals in Amanda To The Rescue. In connection with this, visitors can adopt a pet at the adoption booth done in partnership with PAWS.
TLC star Whitney Thore will hold a dance workout in celebration of female body positivity and self-love; and there will be a cook-off between mother-and-son pair Sherson and Ann Lian, and Anton Amoncio from the Asian Food Channel.
Janet Hsieh returns to team up with gourmet personality Sarah Huang Benjamin to whip up a salted egg dish together on stage.
Discovery Channel will set up the Gas Monkey Garage featuring a line-up of classic vintage cars
Visitors can get a henna tattoo on their arm — but the design is the artist’s choice.
Pet can get a complimentary massage and check-up by a veterinarian at the Animal Planet booth
There will be workshops on latte art and watercolor Christmas card making at the TLC Zone.
HGTV will hold an artisanal Home Bazaar which will include a Christmas wreath workshop.
The Asian Food Channel will be behind a number of food booths.
Admission is free. Details on the event are available on http://www.discoveryfestival.net/.

China among bright spots as Asia outlook darkens, Goldman says

CHINESE stocks should outperform in Asia as a dimming economic outlook forces Beijing to take more aggressive measures to boost growth, according to Goldman Sachs Group, Inc.
While Asian equities have overshot to the downside this year, returns in 2019 will be “fairly subdued,” Goldman Sachs’ chief Asia-Pacific equity strategist Timothy Moe told reporters in Hong Kong. Any rebound in the region’s stocks next year will likely be moderate as estimates on corporate margins were “too optimistic,” Mr. Moe said.
Goldman recommends buying beaten-up Chinese A-shares on the expectation that policy easing measures will start to lift markets in the first or second quarter of next year.
“Given quite a challenging global macro and growth environment we expect policy to be quite supportive and China to ease policy more aggressively in 2019,” said Goldman’s China strategist Kinger Lau.
The bank upgraded its recommendation on the Philippines to overweight and lifted Australia, Thailand and Malaysia to market weight, while cutting Hong Kong, South Korea and Taiwan to underweight.
It expects US-China trade concerns to intensify further, but there’s a good chance of a “pause” in the tariff dispute, Mr. Moe said — Bloomberg

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