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AEV consolidates banking units under UnionBank

By Krista A. M. Montealegre,
National Correspondent

ABOITIZ EQUITY Ventures, Inc. (AEV) transferred its ownership in PETNET, Inc. to the subsidiaries of UnionBank of the Philippines that will consolidate the conglomerate’s interests in banking and financial services.

In a disclosure to the stock exchange on Monday, the holding firm said it signed a share purchase agreement for the sale of its 51% stake in PETNET to City Savings Bank, Inc. and Union Properties, Inc. (UPI) for P1.2 billion.

An affiliate of AEV, UnionBank owns 99.77% of CitySavings and 100% of UPI. The subsidiaries acquired 2.46 million shares in PETNET at P487.54 apiece, which is based on the agreed enterprise value for PETNET and its assets, net of the amount attributable to the other shareholders of PETNET.

“The sale and resulting consolidation of all of AEV’s existing interests in banking and financial services will unlock shareholder value from the synergies between the core businesses of CitySavings and PETNET,” the conglomerate said.

PETNET, known under the retail brand PERA HUB, has the largest network of Western Union outlets in the Philippines. With over 2,800 outlets nationwide, it offers a variety of cash-based services including remittance, currency exchange and bills payment.

CitySavings intends to take advantage of PERA HUB’s retail network and expand its existing loans marketing partnership with PETNET to boost its market reach.

The acquisition also gives the UnionBank group a platform to conduct agency banking, in which banks can employ third-party outlets to perform certain financial services in their behalf.

The consolidation also supports the BSP’s efforts to improve financial inclusion in the country by using non-traditional channels.

The completion of the sale, targeted by the second quarter of 2018, is subject to the approvals by the Philippine Competition Commission and the Bangko Sentral ng Pilipinas (BSP).

AEV posted a 7% decline in net income to P15.9 billion in the first nine months of 2017 compared to P17.1 billion in the previous, dragged by non-recurring losses of P1.2 billion from foreign exchange losses from the revaluation of dollar-denominated loans and pre-termination costs on refinancing.

Without the extraordinary items, AEV’s core net income remained flat at P17.1 billion.

Aside from financial services, AEV is also engaged in power, food, real estate and infrastructure.

Shares in AEV added 70 centavos or 0.98% to close at P72 apiece on Monday.

Aboitiz and Lopez firms team up for Visayas construction projects

THE CONSTRUCTION companies of the Aboitiz and Lopez families are joining forces to undertake projects in central Philippines.

In a statement, Aboitiz Construction, Inc. (ACI) and First Balfour, Inc. said they signed a memorandum of understanding “to explore potential project collaborations in the Visayas.”

The two firms will combine their expertise and resources to pursue prospects and secure contracts in the region.

“This partnership guarantees resilience and competitiveness as both can leverage on respective strengths,” said Aboitiz Construction Chairman Jaime Jose Aboitiz was quoted in the statement as saying.

Combined, Aboitiz Construction and First Balfour bring almost a century of construction experience, with strong presence in the country.

Aboitiz Construction began operations in 1975 with its head office in the Visayas while First Balfour, a Lopez-led company, started in 1969 with its headquarters in Luzon.

Aboitiz Construction is capable of doing work from conceptualization to execution and commissioning, from earth moving to marine structures, from petrochemical to world-class resorts, from warehouses to office buildings and more.

Lopez-led First Balfour has a track record in building real estate, water and transport infrastructure as well as power and energy.

The construction sector is poised for sustained rapid growth given the strong private sector activity and the roll out of the government’s P8-trillion aggressive infrastructure program — dubbed “Build, Build, Build” — that aims to decongest the Philippine capital and boost countryside development. — Krista Angela M. Montealegre

Global Crypto Hub starts operations

By Melissa Luz T. Lopez,
Senior Reporter

BANGKOK-BASED Global Crypto Hub has started operations in the Philippines, with plans to dangle an initial coin offering (ICO) and to roll out their own digital currency for investors and remittance services.

The cryptocurrency consulting firm unveiled its Manila hub yesterday as they look to tap investments through an ICO via usereum, their own digital currency.

Global Crypto Hub opened their knowledge center in Ortigas on Saturday, the first of 15 locations they are targeting to put up across Asia this year.

Global Crypto Hub co-founder Jagdish Pandya said yesterday that their firm is looking to engage Filipino clients and tap the huge remittances market here, as they work to secure regulatory approvals to offer these services.

“Cryptocurrency remittance is a very big business globally because it gives you lightning speed of transfer,” Mr. Pandya said in a briefing held at the Crowne Plaza Manila Galleria in Pasig City yesterday.

Remittances from overseas Filipino workers totalled $25.318 billion from January to November 2017, according to the Bangko Sentral ng Pilipinas (BSP).

Pressed further, Mr. Pandya said their firm is currently staging expos to bring together investors and companies looking to tap cryptocurrency and blockchain technology for their operations, where the usereum digital token can be utilized.

“We are also in process to apply for licensing for exchange and ATM (automated teller machines) for cryptocurrency… Currently, we don’t accept any fiat currency,” Mr. Pandya added, noting that the plan is to be carried out this year.

For now, investors who want to subscribe to usereum can acquire units by buying a different virtual currency from a duly-registered exchange in the Philippines, which can later on be switched to the firm’s own token online.

As of December, two virtual currency exchanges are registered with the BSP: Rebittance, Inc. and Betur, Inc. more popularly known as Coins.ph. The regulator has been evaluating at least 12 applications from new players eyeing to formally set up cryptocurrency exchanges in the Philippines amid rapidly-growing interest in bitcoin and similar platforms.

These digital currencies may be used for paying goods sold through the Internet, which sometimes stands as an investment for its holders given its fluctuating valuations. It is a form of digital money that is not issued or guaranteed by a central bank, and can be sent or received by anonymous users internationally.

Mr. Pandya said they made an initial investment of $50,000 in the Philippines, which forms part of a $1-million investment as the firm plans to open similar hubs in Cebu and Davao. Global Crypto Hub maintains operations in Thailand, India, Malaysia and Dubai.

The global cryptocurrency market is currently valued at $400 billion, soaring from $17 billion in January 2017, Mr. Pandya added.

FDCP honors the honored

THE FILM Development Council of the Philippines (FDCP) celebrated the triumphs of Filipino films and filmmakers abroad during its second Film Ambassadors’ Night on Feb. 9 at the Sampaguita Gardens in Quezon City.

The awards ceremony is meant to show the council’s “appreciation for their passion and hard work,” Mary Liza Diño-Seguerra, chairperson and CEO of the FDCP was quoted as saying in a press release.

“In 2017 alone, more than 80 films including their actors and those involved in their production have won in various international festivals,” Ms. Diño-Seguerra said during the awards night.

The night saw actors Allen Dizon and Angelie Sanoy recognized as “A-Listers,” or those who won in top international film festivals. Mr. Dizon and Ms. Sanoy were named the Best Actor and Actress respectively at the 33rd Warsaw International Film Festival in Poland for their work in Bomba (2017), Ralston Jover’s film about a hearing-impaired laborer.

Also named A-Listers were Bianca Balbuena who received the Producer of the Year Award given by the Asia-Pacific Screen Awards International Federation of Film Producers Association (FIAPF) at the 11th Asia Pacific Screen Awards held in Australia.

Also named an A-Lister was Pailalim (2017), a film by Daniel R. Palacio about a gravedigger trying to save her sick daughter, which won the Fedora Award at the 65th San Sebastian International Film Festival in Spain; and Pauwi Na (2016) by Paolo Villaluna, about family travelling a great distance using pedicabs. The film won the Golden Goblet Award at the 20th Shanghai International Film Festival in China.

The night’s top awards, the Camera Obscura Artistic Excellence Award which recognizes “[those] who defied the norms, broke records and introduced modern breakthroughs in filmmaking,” were given to Saving Sally (2016) by Avid Liongoren for “its international recognition as a original full length Filipino animation film;” Kita Kita (2017) by Sigrid Andrea P. Bernardo for “setting a new box-office record as the highest grossing, independently produced film in the Philippines” having earned more than P300 million during a three-week run, passing 2015’s Heneral Luna which earned P257 million; and producer Ferdinand Lapuz for “reintroducing Philippine cinema to the global scene, paving the way for numerous films to be recognized in various prestigious international film festivals.”

Mr. Lapuz produced films such as Bomba (2017), Die Beautiful (2016), and Pamilya Ordinaryo (2016), among others.

Below is the complete list of winners at the FDCP Ambassadors’ Night:

A-LISTERS
• Allen Dizon

• Angelie Sanoy

• Bianca Balbuena

• Pailalim (2017) by Daniel Palacio

• Pauwi Na (2016) by Paolo Villaluna

CAMERA OBSCURA

• Saving Sally (2016) by Avid Liongoren

• Kita Kita (2017) by Sigrid Andrea Bernardo

• Ferdinand Lapuz

FULL-LENGTH FILMS
• Area (2016) by Louie Ignacio

• Laut (2016)by Louie Ignacio

• Singing in Graveyards (2016) by Bradley Liew

• Baboy Halas (2016)by Bagane Fiola

• Ignacio de Loyola (2016)by Paolo Dy

• Tale of the Lost Boys (2017) by Joselito Altarejos

• Women of the Weeping River (2016) by Sheron R. Dayoc

• Patay na si Hesus (2016) by Victor Kaiba Villanueva

• 2 Cool 2 Be 4Gotten (2016) by Petersen Vargas

• 1st Sem (2016) by Allan Michael Ibanez and Dexter Paglinawan Hemedez

• Ang Babaeng Humayo (2016) by Lav Diaz

• Birdshot (2016) by Mikhail Red

• Dagsin (2016) by Atom Magadia

• Imbisibol (2015) by Lawrence Fajardo

• Paglipay (2016) by Zig Dulay

• Huramentado (2016) by Noriel Jarito

• Pitong Kabang Palay (2016) by Maricel Cabrera-Cariaga

• Pamilya Ordinaryo (2016) by Eduardo Roy, Jr.

• Baka Bukas (2016) by Samantha Lee

• Across the Crescent Moon (2017) by Baby Nebrida

• Sikreto sa Dilim (2017) by Mike Magat

• Matangtubig (2015) by Jet Leyco

DIRECTORS
• Louie Ignacio

• Mikhail Red

• Raymund Ribay Gutierrez

• Sheron Dayoc

• Sari Dalena and Kiri Dalena

• Fritz Silorio

• Lav Diaz

• Brillante Mendoza

ACTORS
• Gabby Concepcion

• Christopher de Leon

• Christopher de Leon, Matteo Guidicelli, Dina Bonnevie, Sandy Andolong, Gabby Concepcion and Joem Bascon for their work in Across a Crescent Moon (2017) by Baby Nebrida

• Arnold Reyes

• Mary Joy Apostol

• Carlos Morales

• Leon Miguel

• Laila Ulao

• Anna Luna

• Hasmin Killip

• Ronwaldo Martin

• Tommy Abuel

• Ana Capri

• Ai Ai delas Alas

• Iza Calzado

• Lotlot de Leon

• Angel Locsin

• Ricky Davao

• Charo Santos- Concio

FILM DOCUMENTARY
• Sunday Beauty Queen (2016) by Baby Ruth Villarama

• Two Way Jesus (2017) by Jet Leyco

TV DOCUMENTARY
• Warmer (2017) by Atom Araullo

• Front Row: Bata sa Bintana (2016) by JC Rubio

• Reel Time: Maling Akala (2016) by Jayson Bernard Santos

• Reporter’s Notebook: Pasan-pasang Pangarap (2016) by Ian Simbulan

SHORT FILMS
• Imago (2016) by Raymund Ribay Gutierrez

• Fatima Marie Torres and the Invasion of Space Shuttle Pinas 25 (2016) by Carlo Francisco Manatad

• Jodilerks dela Cruz, Employee of the Month (2017) by Carlo Francisco Manatad

• Do I have Boobs Now? (2017) by Joella Cabalu and Milena Salazar

• Contestant #4 (2016) by Jared Joven and Kaj Palanca

• Diliman (2017) by TJ Collanto

• Supot (2016) by Phil Giordano

• Maria (2017) by JP Habac

• Pipo (2015) by Richard Legaspi

CREATIVE AND TECHNICAL EXCELLENCE IN FILM
• Greg Rodriguez III for Ang Araw sa Likod Mo (2017)

• Lawrence Fajardo for Imbisibol (2015)

• Herlyn Gail Alegre and John Paul Bedia for Imbisibol (2015)

• Che Espiritu for Fatima Marie Torres and the Invasion of Space Shuttle Pinas 25 (2016)

• Jona Ballaran for Dagsin (2016)

• Inshallah Montero for Papa’s Shadow (2016) — Zsarlene B. Chua

Date night with Karylle

SPEND Valetine’s Day at one of Metro Manila’s most exclusive clubs as actress/singer Karylle (Ana Karylle Tatlonghari-Yuzon in real life) holds a Valentine’s concert at the Manila House in Bonifacio Global City, Taguig.

Titled Date Night, Ms. Tatlonghari-Yuzon told the media during a press conference on Feb. 5 that she decided to hold her concert in Manila House because “it’s one of my most favorite places.”

“For one night, we’re opening Manila house to the public for Valentine’s so even non-members can come and see the place,” she said.

Manila House, which opened its doors in early 2017, is touted as a private club for the select few. To be a member, one has to be invited by an existing member (ABS-CBN News, in a July 2017 article, said the property has an estimated 600 members) and put down a six-figure one-time payment plus a monthly fee for the upkeep.

The tropical colonial-styled club, spanning 5,000 square meters and located on the 8th floor of the Net Park Bldg. along 5th Avenue, was designed by architect and interior designer Gert Voorjans.

“I’d love people to enjoy the perfect chill date night. I love how Manila House is the prettiest place in the metro with lots of art, and there’s something beautiful everywhere you look. But of course, on Valentine’s day, your eyes should be on your date. We will set the mood for that perfect date!” Ms. Tatlonghari-Yuzon was quoted as saying in a press release.

Designed as an intimate concert (with either a sit-down dinner or cocktails), Ms. Tatlonghari-Yuzon said the show will be done in two parts — the first half will be dedicated to standards and a few Broadway songs while the second will be about Original Pilipino Music (OPM) songs and her original songs.

Joining her are the Passport Holders, with special guest Kris Lawrence and singing contest Tawag ng Tanghalan finalists Froilan Canlas and Charles Kevin Tan.

“I love singing to couples. It’s my favorite thing,” she said.

Date Night will be on Feb. 14, 9 p.m., at Manila House, 8th floor, Net Park Bldg., BGC, Taguig. Ticket prices are P5,000 (including dinner) and P3,500 (including cocktails). For ticket inquiries, contact ALV Events International at 637-7016 or Manila House at 0917-816-3685. — Zsarlene B. Chua

Ceres-Negros FC starts AFC Cup campaign

By Michael Angelo S. Murillo
Senior Reporter

FRESH from its historic and groundbreaking bid in the AFC Champions League, Bacolod City-based club Ceres-Negros FC now channels it focus on the AFC Cup, beginning today as it kick-starts its bid with a home game against visiting Boeung Ket Angkor of Cambodia.

Bracketed in Group F in the group stage, the “Busmen,” the defending ASEAN Zone winner, will play in a series of home-and-away games against C-League champion Boeung Ket, ASEAN Zone finalist Home United of Singapore, and Myanmar champion Shan United with the hopes of emerging on top of the grouping to advance to the next round of Asia’s secondary club football tournament.

It all begins for Ceres in its 7:30 p.m. match today against Boeung Ket at the Panaad Stadium in Bacolod.

In last year’s edition of the Cup, Ceres, the inaugural champion of the Philippines Football League, topped its grouping and advanced to the ASEAN Zone semifinals and eventually to the finals where it won over Home United.

In the inter-zone playoff semifinals though it fell to FC Istiklol of Tajikistan, 5-1, to see its impressive run come to an end.

Expected to carry the cudgels for the team this year are Stephan Schrock, Manny Ott, and Super Herrera to be joined possibly of new signings Tony Doblas, Mike Ott, Sean Kane, and Takumi Uesato.

AFC CHAMPIONS LEAGUE RUN
Ceres is coming off a head-turning performance in the AFC Champions League where it became the first Filipino club to come within one win of advancing to the main draw of the tournament.

Despite not highly regarded as the other competing teams in the preliminary round, it went on to beat Shan United in the first round and then upset Brisbane Roar in the second round to come within one win of making further history in the Champions League.

Ceres said it will try to build on that experience and put into good use the lessons of it as it embarks for the AFC Cup even as it said that it is expecting nothing easy as it has put itself as a “target” for the good performances it has had of late.

This year will mark the fourth time the Bacolod-based team will be competing in the AFC Cup.

The other club carrying the Philippine flag in this year’s edition of the tournament is Global Cebu FC, which is in Group G.

It lost in its opener last Saturday to Vietnamese side FLC Thanh Hoa F.C., 1-0, in Hanoi.

The match between Ceres and Boeung Ket will be shown live over cable channel FOX Sports 2.

Second concert added to Manila stop of Celine Dion’s Asian tour

CANADIAN SONGSTRESS Celine Dion has added another date to her much-awaited Manila concert on July 19 at the SM Mall of Asia Arena.

The second date, July 20, was announced by the concert promoters Ovation Productions and AEG on Monday with the statement saying that due to the fact that tickets to the July 19 concert sold out “within days” of it being announced on Jan. 18, the promoters added a second performance “to ensure all fans have a chance to catch the show.”

The July 20 tickets be offered to the public beginning Feb. 15, 10 a.m. at www.smtickets.com, though members of TeamCeline (a Celine Dion fan club in Manila) will be able to purchase tickets in advance starting Feb. 13, 10 a.m. to midnight. PLDT Smart subscribers will also be having a pre-sale on Feb. 14, 10 a.m. to midnight.

Tickets range in price from P2,640 for General Admission to P35,380 for VIP.

The July concerts will be Ms. Dion’s first in Manila. She was supposed to sing in Manila in 2014 but had to cancel due to the deteriorating health of her husband and manager, Rene Angelil.

Manila is one of the stops of the Asian leg of the singer’s tour which will see her performing for the first time in Asian cities such as Singapore, Jakarta, Taipei, and Bangkok.

The tour, which will open on June 26 in Tokyo, will also be bringing her to cities “she hasn’t performed in for 10 years” including Tokyo and Macau, said a press release.

With a career spanning over 30 years, Ms. Dion is known for numerous hits such as the 1991 title track of Disney’s Beauty and the Beast which she sang with Peabo Bryson, “The Power of Love,” “It’s All Coming Back To Me Now,” and “My Heart Will Go On,” the love theme of James Cameron’s mega-hit movie Titanic.

The new millennium and its succeeding years saw Ms. Dion doing what she does best: touring and singing. In 2010, she announced a three-year residency in Caesar’s Palace in Las Vegas, but the residency and her other shows were put on hold or canceled in 2014 following the deterioration of her husband’s health after the removal of a cancerous tumor.

Mr. Angelil died in 2016 and Ms. Dion resumed her residency a few months later.

The same year saw her receive the Lifetime Achievement Icon Award by the Billboard Music Awards.

One of her most recent hits os “How Does a Moment Last Forever” for The Beauty and the Beast Original Motion Picture Soundtrack released in 2017.

Ms. Dion has sold almost 250 million albums over a three-decade career, earned five Grammy Awards, two Academy Awards, and seven American Music Awards. She also received the Diamond Award at the World Music Awards in 2004 in recognition of her status as the best-selling female artist of all time.

Celine Dion will be performing on July 19 and 20 at the SM Mall of Asia Arena. — ZBC

Ringstar Boxing championing the sport in this part of the world

By Michael Angelo S. Murillo
Senior Reporter

INSPIRED by the rich boxing tradition in the Asian region, Ringstar Boxing, a Singapore-based promotions company, has decided to set up shop in this side of the world.

Founded in 2016, Ringstar is led by founder and CEO Scott Farrell, a self-confessed risk taker whose vision is to promote the great sport of boxing while developing homegrown stars along the way.

“Asia is a hotbed of talent for boxing. It has produced fighters like Gerry Peñalosa, Manny Pacquiao and many, many more world champions. The Philippines as a whole is amazing. Thailand as well has produced champions. I know I can build it here. I know I can bring it to a stage where I can show it to the world. That was my plan,” said Mr. Farrell in an interview with BusinessWorld as he spoke of the inspiration for Ringstar and the decision to locate here.

The enthusiastic British promoter shared that Ringstar’s journey so far has involved a lot of work and proving itself as an organization and promotions company, something Mr. Farrell proudly said they have been handling well as they have been steadily building their way up.

“It has been 17 months now for Ringstar and I would say it has been picking up across the board. Since incorporation, we have reached a broadcast footprint of over 150 million potential viewers worldwide. We’re taking in partners. We have FOX Sports and here we have worked with ABS-CBN. Overall it has been doing well,” Mr. Farrell said.

“Of course challenges are still there. Some may argue that the quality of our fighters is not yet there but that’s because most of the protected fighters are being kept from us. But we are making our way through it. We are unique. We take risks in bringing the best fights to the fans with the best production so as not to make it an ordinary road show,” he added.

On April 20, Ringstar will stage its fourth live show dubbed “Roar of Singapore IV: The Night of Champions” at the Singapore Indoor Stadium and will feature two Filipino fighters in the headlining fights.

Jeson Umbal will take on hometown bet Muhamad Ridhwan for the vacant International Boxing Organization (IBO) Intercontinental featherweight title while Filpino bantamweight Michael Dasmariñas faces off with French boxer Karim Guerfi for the vacant IBO world title.

Also featured in the Singapore boxing event is the IBO Oceania title between Malaysia’s Mirage Kahn and New Zealand’s Chase Haley.

Mr. Farrell said Roar of Singapore IV is representative of what Ringstar Boxing is all about.

“Not many people may know much of these fighters for now but they will go out and give fans great quality boxing fights that they will talk about,” he said.

He went on to say that a lot is in store for Ringstar Boxing, with more quality live shows in different parts of the region, including in the Philippines by the middle of this year.

“Fantastic things are still to come from us. Boxing is still very much alive. Contrary to popular notion, boxing did not die. It just rested. And we at Ringstar will try to continue to prove that,” Mr. Farrell said.

RFM income up 6% in 2017 on strong pasta, ice cream sales

RFM Corp. reported a 6% profit increase for 2017, boosted by the robust sales of its ice cream and pasta products.

In a statement issued Monday, the listed food and beverage firm said net income increased to P1.064 billion last year, from the P1 billion it generated in 2016.

Sales revenues stood at P12.7 billion, as higher sales of Selecta ice cream and Fiesta pasta during the period helped offset price pressures in the commodity flour business. RFM had earlier noted that it will be ramping up efforts to grow its branded consumer brands to mitigate the effects of increased prices of raw materials.

Ice cream brand Selecta, which RFM developed in partnership with Uniliever Philippines Ltd., saw revenues climb 13% during this period. To support the rising demand for the product, the two companies have earmarked a capital expenditure of P1 billion to grow the ice cream business. Capex will be internally funded by the ice cream joint venture.

“RFM sees continued consumer consumption growth in the coming years and we are investing already to be able to take full advantage of that growth,” RFM President and Chief Executive Officer Jose A. Concepcion III said in a statement.

The company is in the process of upgrading its flour mill using P240 million of internally generated cash. The pasta business also includes the Royal brand, while other products under RFM’s portfolio are Sunkist Orange Pulp, Vitwater, and White King All-Purpose Flour.

“For 2018, we see sustained growth in our ice cream and faster growth in the pasta business. We also plan to push our RTD (ready-to-drink) milk lines for faster growth this year,” Mr. Concepcion added.

The company on Monday also disclosed that it will be giving out cash dividends worth P300 million, which is the first tranche of its 50% dividend payout from its 2017 earnings.

RFM is likewise undertaking a share buyback program worth up to P900 million. As of Feb. 7, the company has already bought back from the open market 102.76 million shares for an aggregate amount of P441.27 million.

Incorporated in 1957 originally as Republic Flour Mills, Inc., RFM’s business is divided into tow segments: the institutional segment for the flour, bakery, and other bakery products to institutional customers, and the consumer segment that manufactures and sells ice cream, milk, juices, pasta, and other rice-based mixes.

Shares in RFM gained four centavos or 0.82% to close at P4.90 apiece at the Philippine Stock Exchange on Monday. —Arra B. Francia

RLC raises P20 billion from stock rights offering

ROBINSONS LAND Corp. (RLC) has raised P20 billion from the completion of its stock rights offering (SRO) last week.

In a disclosure to the stock exchange Monday, the Gokongwei-led property developer said the SRO, offered from Feb. 2 to 8, was oversubscribed. A total of 1.1 billion shares priced at P18.20 apiece were sold from the issuance, 1.074 billion of which were sold during the first round, while 25.995 million shares were sourced from the oversubscription option.

One rights share was offered for every 3.7217 existing common shares held as of Jan. 31.

The offer brings RLC’s total issued and outstanding shares to 5.194 billion, with 3.871 billion held by local shareholders and 1.322 billion owned by foreign investors.

RLC looks to use the funds raised from the offer to finance land acquisitions that would support the expansion of its commercial, residential, office, and hospitality businesses.

The company booked a single-digit increase in attributable profit in the first nine months of 2017 to P4.56 billion, following flat revenues that stood at P16.64 billion.

Shares in RLC were down by 25 centavos or 1.21% to close at P20.40 apiece at the stock exchange on Monday. — Arra B. Francia

Get Out, Call Me by Your Name win big at Writers Guild Awards

LOS ANGELES — Get Out and Call Me by Your Name won top prizes at the Writers Guild of America Awards Sunday, three weeks before the Oscars, the glittering climax of Hollywood’s awards season.

Writer-director Jordan Peele picked up the trophy for best original screenplay for Get Out, a dark satire of the African-American experience and liberal white guilt.

“This was a passion project. It was something I put my love into, I put my soul into, so getting this from you means so much,” Peele said as he picked up his trophy.

“I started writing it in 2008 and there were a lot of ups and downs.”

The film, starring Daniel Kaluuya, has already landed Peele best first time feature at the Directors Guild of America Awards and is nominated for four statuettes at the Oscars, to be held on March 4.

Get Out beat out The Big Sick, I, Tonya, Lady Bird, and The Shape of Water.

The evening was hosted for the third year in a row by Emmy and Grammy-winning actor, writer, and comedian Patton Oswalt, who began by light-heartedly chastising the WGA for bringing him back.

“Given the current atmosphere, maybe get a female host next year. There are hilarious comedians and writers out there,” he said.

James Ivory scooped the prize for best adapted screenplay for his work transforming Andre Aciman’s 2007 novel Call Me by Your Name into the film of the same name, starring Timothee Chalamet.

Luca Guadagnino’s paean to the universal heartbreak of first love, set in 1980s northern Italy, bested highly touted rivals, including The Disaster Artist, Logan, Molly’s Game, and Mudbound.

It is also nominated for four Oscars, including nods for Ivory’s screenplay, best picture, best actor for Chalamet, and best original song.

Best documentary screenplay went to Brett Morgen for Jane, a study of the life and work of celebrated primatologist Jane Goodall, whose groundbreaking chimpanzee research revolutionized people’s understanding of the natural world.

In the television category, Hulu’s The Handmaid’s Tale won both best drama and best new series, while HBO’s Veep took best comedy series.

The WGAs is one of Hollywood’s last major prize-giving ceremonies ahead of the Academy Awards.

It is not considered as reliable a predictor of Oscars glory as the other guilds’ prize-giving nights, however, as members can only shortlist scripts written under WGA guidelines or those of several international partners. — AFP

New-look Cavaliers spoil Pierce’s retirement party

LOS ANGELES — The Boston crowd came out to celebrate Paul Pierce on Sunday — but LeBron James and his new Cleveland supporting cast had other ideas as the Cavaliers routed the Celtics, 121-99.

James shook off a first quarter leg injury to finish with 24 points, 10 assists and eight rebounds for the Cavaliers who were one of the busiest teams at the NBA trading deadline.

Cleveland acquired four players and dealt away six others as they attempt to make a push for their fourth straight NBA finals.

“We got some players that are pretty smart and they picked it up like they had been here all year,” said James, who played just 28 minutes.

Despite the home team’s loss, the night belonged to Pierce and his family as they got to hear tribute videos from Kobe Bryant and Magic Johnson and see his number 34 raised to the rafters of the Boston Garden arena.

“It definitely gave me chills, especially with LeBron out there,” Pierce said afterwards. “I wanted to be out there.”

Pierce, who retired at the end of last season, watched the game from his sideline seat, waiting for the postgame ceremony. But when the Cavaliers raced to a 27-point lead halfway through the final quarter the crowd couldn’t hold back chanting “We want Paul Pierce.”

James scored 13 of his 24 points in the second quarter. He chipped in eight during a 13-2 burst that turned a one-point deficit into a double-digit lead. The Celtics made it 64-55 on the first basket of the third quarter but never even got close for the rest of the game.

James collided with Aron Baynes with about five minutes left in the first quarter and hobbled to the sidelines. After receiving treatment on his right leg he returned with nine minutes left in the half and immediately picked up where he left off.

In their first appearances since being acquired at the trade deadline, Jordan Clarkson scored 17 points, Rodney Hood had 15, George Hill had 12 and Larry Nance scored five points. The foursome practiced with Cleveland for the first time on Saturday.

“All of our new guys performed and played well,” coach Tyronn Lue said. “So that’s a good sign.”

The Celtics have lost three of four while the Cavaliers have won three straight.

Terry Rozier scored 21 points with nine assists and Kyrie Irving scored 18 against his former teammates before sitting out the final quarter in the loss.

In Charlotte, DeMar DeRozan scored a team-high 25 points and CJ Miles came off the bench to score 24 points as the Raptors notched their fifth straight victory with a 123-103 win over the Charlotte Hornets.

Head coach Dwane Casey became the first coach in franchise history to record 300 wins. — AFP

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