THE GOVERNMENT has kept its 2-4% inflation target until 2020, with the central bank seeing that price increases will remain “manageable” despite the expected impact of tax reform.
In a statement, the Bangko Sentral ng Pilipinas (BSP) said the inter-agency Development Budget Coordination Committee (DBCC) has kept the target band for annual inflation for the next two years.
“The current manageable inflation environment could be sustained over the medium term. Inflation projections and expectations continue to indicate that inflation could settle within the current inflation target, although there are upside risks to the inflation outlook,” the BSP said.
The DBCC conducted its second review for the year on Dec. 22, where economic managers decided to keep the annual economic growth target at 7-8% from 2018 to 2022.
Inflation has logged 3.2% from January to November this year, well within the target range and rising from the 1.8% average in 2016.
Price stability is one of the central bank’s key mandates, with inflation dynamics standing as its main consideration in setting monetary policy.
The BSP has kept its policy stance since a hike in September 2014. Borrowing rates currently range between 2.5-3.5%, following procedural adjustments which took effect in June 2016 following the shift to an interest rate corridor.
“Expectations of healthy economic growth alongside the tax reform program would create demand-side impetus to inflation. Nonetheless, the favorable effect of sustained investment spending by the national government on the economy’s productive capacity would help temper inflation pressures,” the central bank said.
President Rodrigo R. Duterte on Dec. 19 signed the first Tax Reform for Acceleration and Inclusion (TRAIN) package as Republic Act 10963.
Split into several tranches, the entire tax reform program is designed to shift the burden to those who can afford to pay more, while raising additional revenues that will help finance the government’s ambitious P8.44-trillion infrastructure development effort until 2022.
The measure reduces personal income taxes for those earning below P2 million, alongside a simpler system for computing donor and estate taxes.
Foregone revenues will be offset by the removal of some exemptions to value-added tax; increased tax rates for fuel, automobiles, tobacco, coal, minerals, documentary stamps, foreign currency deposit units, capital gains for stocks not in the stock exchange, and stock transactions; and new taxes for sugar-sweetened drinks and cosmetic enhancements.
The TRAIN law is expected to raise P90 billion in additional revenues.
Meanwhile, the inflationary impact of potential increases in international commodity prices are also seen “moderate,” given lower pass-through costs on basic goods.
The BSP sees inflation averaging at 3.4% in 2018, slightly higher than the 3.2% expected this year. By 2019, inflation is expected to average at 3.2%.
The central bank has acknowledged that the pace of price increases is likely to go faster next year, coupled with rising global crude costs. Still, BSP Deputy Governor Diwa C. Guinigundo said that higher oil prices — which have a huge bearing on the consumer basket — would “not be enough to upset inflation” beyond 4%.
Higher duties to be imposed under the tax reform package would likewise have a “transitory” impact on consumer prices, Mr. Guinigundo added.
THE VILLAR GROUP of companies is accelerating its capital spending to P175 billion in the next three years, targeting to boost the growth of its businesses in real estate, leasing, retail, hospitality, and education.
The massive capital expenditure budget will support tycoon Manuel B. Villar, Jr.’s vision of establishing his property business as one of the major players by 2020, in addition to building his retail brands.
Companies under the Villar group include Vista Land & Lifescapes, Inc. (VLL), Starmalls, Inc., Golden Haven, Inc., all three of which are listed at the Philippine Stock Exchange, and All Value Holdings, Corp., which serves as the holding firm for his retail businesses.
“We are very bullish in the coming year as we take advantage of the various collaborations among our companies in addition to the sustained sound Philippine macroeconomic fundamentals,” Mr. Villar told reporters in Las Piñas last Dec. 19.
Around 60% of the capex will fund the company’s real estate expansion, while the rest will go to the leasing and retail businesses. Of the P175 billion capex, Mr. Villar said P50 billion will be spent in 2018.
For VLL, Mr. Villar said the company will push expansion to the provinces as he expects a “reverse migration” phenomenon given the government’s plans to develop areas outside Metro Manila. This expansion will help boost profit and revenues grow by 12-15% annually.
To date, VLL is present in 132 cities and municipalities and 46 provinces around the Philippines.
To complement VLL’s residential business, the listed firm has committed to expand the Villar-led Georgia Academy, now with three branches, to 13 next year.
The property company will also be developing six hotels in the next three years, five of which will carry the Hotel Mella brand. Mr. Villar identified Boracay, Tagaytay, Bataan, and Cebu as the locations for the hotel. A branded hotel to be developed with a partner is also set to rise in Evia, VLL’s property in Las Piñas.
For Golden Haven, the company plans to acquire more land for memorial parks. At present, it has 14 memorial parks — a figure which it hopes to double in the next three years.
“We are going big in memorial parks. We aim to have one in every city where we have Camella Homes,” Mr. Villar said, referring to one of the residential brands under VLL.
Recently, Golden Haven diversified into the mass housing sector by taking over the operations of another Villar-led company, Bria Homes, Inc. The P3.01-billion acquisition will mark the company’s entry into housing development.
Meanwhile, Starmalls will be increasing its number of malls to 60 in the next three years, from the current 22.
Mr. Villar is bullish on his retail business, which comprises home improvement chain AllHome, All Day Supermarket, All Day Convenience Store, Coffee Project, and bakery Bake My Day.
The Villar group will be increasing the number of All Day Supermarket branches to 26 in 2018, from the current count of 13. The public will also see a total of 100 branches of All Day Convenience stores next year, from just 72 in 2017. Around 10 to 12 AllHome depot stores will likewise be added in 2018, for a total of 26 to 28.
Coffee Project, meanwhile, will be present in around 45 to 50 locations by next year.
“There are now 22 branches of Coffee Project. Next year, we hope to make it to 45 to 50. So we will add 23 to 28 more. We now have 15 to 20 identified locations, including Davao, Cagayan de Oro, Iloilo, and Naga,” Mr. Villar said. — Arra B. Francia
THE Department of Information and Communications Technology (DICT) said it is studying ways to make the allocation of telecommunications spectrum “more equitable,” and may resort to redistribution.
DICT officer-in-charge and Undersecretary Eliseo M. Rio, Jr. said that the agency will study best practices worldwide for allocating frequencies, the bulk of which are currently controlled by incumbents PLDT, Inc. and Globe Telecom, Inc.
“We will come up with a more equitable allocation of frequencies, based on best practices of other countries like refarming and will be the subject of public hearings before being finalized,” Mr. Rio said in a text message.
PLDT and Globe added to their advantage last year by acquiring the telco assets of San Miguel Corp. (SMC).
The acquisitions include rights to the coveted 700 megahertz (MHz) frequency band.
The Philippine Competition Commission (PCC) estimates that only 12.8% of the spectrum will be available for a potential third player.
Refarming may open the government to legal action and Mr. Rio said the government needs to plan for the long term in the event the incumbents resist refarming.
The DICT is looking at allocating the remaining uncommitted frequencies to a third player, which could possibly be structured as a consortium.
Mr. Rio told reporters last week that the DICT does not favor distributing the remaining frequencies to many players, which might lead to buyouts by PLDT and Globe.
Mr. Rio said in a social media post last week that no matter how “financially and technically robust” the third player may be, the frequencies available may not leave the third player in a position to compete.
Possible areas in which the third player can compete include building cellphone towers for lease to other companies including the incumbents, and fixed-line Internet service to underserved areas.
Malacañang has said that China Telecom Corp. Ltd. has been nominated by the Chinese government to invest in the Philippines. It has yet to choose a local partner, as the law provides for only 40% maximum foreign ownership in telecommunications.
Philippine Telegraph and Telephone Corp. (PT&T) is set to roll out a nationwide broadband network, as well as mobile service, in the next few years, which is seen as a bid to position itself as a local partner for the third player.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a stake in BusinessWorld through the Philippine Star Group, which it controls.
FUND MANAGERS are worried the hike in stock transaction tax (STT), which will be implemented on Jan. 1, may hamper the Philippine Stock Exchange’s (PSE) growth.
The increase in STT is part of the first package of the Tax Reform for Acceleration and Inclusion (TRAIN) law, which takes effect next week. The STT will increase by 20% to 60 basis points (bps), or six-tenths of 1%, from 50 bps of the gross selling price or gross value in money of the shares of stock sold, bartered, exchanged, or otherwise disposed.
“The STT applies to every sale, barter, exchange or other disposition of shares of stock listed and traded through a local stock exchange, other than sale by a dealer in securities, and shall be paid by the seller or transferor,” the PSE said in a memorandum dated Dec. 26.
While the stock exchange is seen to generate an additional P1.7 billion in revenues annually, the higher STT may turn off investors.
“My initial thoughts are that it will slightly reduce trading volume. It increases both risk and friction cost,” First Metro Asset Management, Inc. President Augusto M. Cosio said in a text message.
PSE President Ramon S. Monzon earlier this month said the higher STT will affect the competitiveness of the Philippine stock market.
“What we have to understand is the PSE does not operate in the local market alone. We really compete with the other exchanges, Thailand, Malaysia, Indonesia, Vietnam. We compete for the money of the foreign investors. So when you increase STT, you are increasing the friction cost. As it is right now, before the increase that 50bps STT is already one of the highest in the region,” Mr. Monzon said.
The PSE currently has the highest STT among regional markets, followed by the Burma Malaysia Exchange with a tax of 30bps of the transaction value. Meanwhile, the Hong Kong Exchange charges a stamp duty of 10bps of the transaction value, with the Singapore exchange does not have a stock transaction tax.
“It might hamper capital market growth. I would have preferred they increased taxes on unlisted securities,” BDO Capital and Investment Corp. President Eduardo V. Francisco said in a text message.
For his part, Summit Securities, Inc. President said while the market can bear the STT increase, it would have been better to maintain it at its current level.
“I don’t think it’s something big. If it’s something big, if it’s 0.06% then I think we can bear it… But I just wish they can maintain it and push for more volume instead,” Mr. Liu said.
Timson Securities, Inc. Marketing Head Mark Levinson R. Koa noted the move can also deter active day and swing traders’ from trading more, since the higher taxes would make it harder to generate profits.
“To combat the possible negative effects of the higher taxes, PSE can finally launch short-selling and other derivative products in 2018. These new and exciting investment options might just be the key to invite more trading participants into our local stock market,” Mr. Koa said in a text message.
Mr. Monzon earlier short selling will be one of the initiatives they are planning to launch in 2018 to entice more foreign investors into the PSE.
“We are really embarking on a lot of new initiatives that will make it more attractive to the foreign investors. We’ll try to launch short selling, and the securities borrowing and lending for the first quarter next year. We plan to launch new indices… That would make out market more attractive to foreign investors,” the PSE president explained.
THE PESO grew stronger against the dollar on Thursday, returning to the P49 level for the first time in more than six months, as market players weigh the negative effects of the US tax overhaul on large financial institutions.
The local currency closed the session at P49.98 versus the greenback, gaining six centavos from its P50.04-per-dollar finish on Wednesday.
Yesterday’s finish was also the peso’s best performance since it closed at P49.91-to-the-dollar last June 19.
The local unit traded stronger the whole day, opening at P49.94 versus the dollar. Its intraday low stood at P50.05, while its best showing was at P49.85 against the greenback.
Dollars traded yesterday surged to $625.3 million from the $523.1 million that changed hands on Wednesday.
A trader interviewed yesterday said the peso climbed mainly on the back of rising concerns over the US tax reform law signed last week.
“The continuous strength of the peso is driven by outlook on the unprecedented impact of the US tax reform to large financial institutions, primarily due to substantial adjustments to these firms’ deferred tax assets which are seen to affect income statements negatively,” a trader said in an e-mail.
On Wednesday, Barclays said it expects a $1.3-billion write-down on its annual post-tax profits, forcing the lender to reduce its deferred tax assets value. The British bank is also expecting its common equity Tier 1 capital ratio to go down by 20 basis points.
Meanwhile, another banker suspected the Bangko Sentral ng Pilipinas of buying dollars in the afternoon trading, prompting the peso to hit its P50.05 low.
“What we noticed is some late session buying from agent banks, and this sparked a rally in the last 10 minutes before the closing,” another trader said.
Continued offshore investor interest and sustained remittance inflows even after Christmas also boosted the peso.
For today, one trader said the peso may play within P49.80 to P50.10 against the dollar, while the other trader sees the pair moving within a slightly slimmer range of P49.85 to P50.10.
Another trader gave a higher projection of P49.80 to P50.05. “It is expected that the local currency will appreciate [today] due to possible window-dressing of local traders as this year’s trading come to a close.” — Karl Angelo N. Vidal
MAYNILAD Water Services, Inc. is contributing P375 million or about half of the total investments required to rehabilitate the Angat-Umiray transbasin tunnel, one of the most important water supply systems for Metro Manila.
“Through sustained investments in water infrastructure enhancements, we can continue to meet the drinking water needs of an ever-growing population,” Ramoncito S. Fernandez, president and chief executive officer of Maynilad, said in a statement.
The transbasin tunnel in General Nakar, Quezon province is one of the common purpose facilities of state agency Metropolitan Waterworks and Sewerage System (MWSS).
“We fully support the MWSS in this endeavor,” Mr. Fernandez said.
Maynilad, the largest private water concessionaire in the Philippines in terms of customer base, is an agent and contractor of the MWSS for the west zone of the greater Manila concession area.
The P749-million rehabilitation project will cover the 13.4 transbasin tunnel that is used to convey raw water from the Umiray River to Angat River.
Maynilad said the tunnel is crucial to the water supply system of Metro Manila and nearby provinces, serving 90% of the population or about 16 million people.
“Among the rehabilitation works and upgrades that will be implemented is the retrofitting of intake/diversionary structures to withstand the effects of inclement weather such as severe flooding,” Maynilad said.
The MWSS project would add new features to the transbasin tunnel “for better resiliency, such as additional slope protection, revetment walls, and steel sheet piles along the weir,” the company said.
The tunnel’s rehabilitation is scheduled to be finished by the fourth quarter of 2018. It will help to secure the water supply of Metro Manila residents “in the face of supply uncertainties brought on by climate change,” Maynilad said.
Maynilad serves certain portions of the cities of Manila, Quezon and Makati. It also covers Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas and Malabon in Metro Manila.
Outside the Philippine capital, it serves the cities of Cavite, Bacoor and Imus, and the towns of Kawit, Noveleta and Rosario, all in Cavite province.
Metro Pacific Investments Corp., which has a majority stake in Maynilad, is one of three Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT, Inc.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has interests in BusinessWorld through the Philippine Star Group, which it controls. — Victor V. Saulon
FINTQ, the financial technology arm of Voyager Innovations, Inc., has launched programs and services in its bid to bring financial inclusion to the grassroots level.
KasamaKA, a grassroots-based program, was launched in September which aims to offer access to formal financial services by providing a digital platform, making transactions fast, easy and safe.
With the intention to drive Filipinos away from informal financial services such as “5-6,” KasamaKA offers services such as lending, insurance, investments and savings, among others.
“FINTQ and Voyager Innovations are committed to Bangko Sentral ng Pilipinas (BSP) in intensively promoting the National Strategy for Financial Inclusion, and as our goal, we aim to include 30 million Filipinos into the mainstream financial system by 2020 through the KasamaKA program,” Angelito M. Villanueva, FINTQ managing director, was quoted as saying in a statement.
KasamaKA also launched a caravan in partnership with Land Bank of the Philippines (LandBank), BSP and Department of Social Welfare and Development, to promote financial inclusivity and literacy at the community level.
The caravan presents modules which introduces formal financial systems, as well as business and livelihood opportunities, to the participants. It made stops in rural areas of Ifugao, Tarlac, Iloilo, Cebu, Davao del Norte and Misamis Oriental.
“This national caravan aims to improve financial literacy, especially in rural communities that usually have to access to this kind of training. With the help of our partners such as KasamaKA, we can reach more unbanked and underserved Filipinos all over the country,” Landbank President and Chief Executive Officer Alex V. Buenaventura said.
FINTQ has also collaborated with Liga ng mga Barangay to bring KasamaKA to the association’s livelihood and entrepreneurship initiatives for the unbanked in over 42,000 barangays.
At present, 86% of households are considered unbanked due to their lack of savings account. BSP surveys have proven that most of the people do not have access to formal financial services due to the inadequacy of easy-to-reach programs.
Voyager Innovations is PLDT, Inc.’s digital innovations unit. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a stake in BusinessWorld through the Philippine Star Group, which it controls. — KANV
ANOTHER YEAR is coming to a close and a new year is looming — and with it a renewal of hopes and dreams, and wishes for better times.
It is this new beginning, this chance for a fresh start, that everyone celebrates at the moment the clock strikes midnight on the first day of the new year.
One can welcome the year quietly, reflectively, cocooned at home, sheltered from the neighbors’ explosive racket; or surrounded by family and friends, making that noise yourself to drive away bad luck.
Or one can seek the company of other like-minded well-wishers in a public space, amidst music and champagne, watching fireworks explode in the sky as you count down to the New Year.
If the latter manner sounds the most attractive, here is a listing of some of the metro’s many New Year’s Eve dinners and parties.
NORTHERN LIGHTS
The sky in the Ortigas Center will be twinkling with fireworks to greet the new year and guests at Marco Polo Ortigas Manila will get a front seat at Vu’s Sky Bar and Lounge. It will be offering two meal packages — the Shimmer which is good for three to four persons with its signature dish, Beef Salpicao, as the highlight of the meal; and the Dazzle, good for five to six persons, which includes sizzling pork sisig and chicken satay. The Spellbound Band takes the center stage at 9:30 p.m. For details visit www.marcopolohotels.com.
The New Year’s Eve buffet at the Eastwood Richmonde Hotel
At the nearby Eastwood Richmonde Hotel, the newly opened Eastwood Café+Bar offers a New Year’s Eve Dinner Buffet, at P1,650 net per person. The hotel’s New Year’s Eve Countdown Party at the will be held at the lobby and the Eastwood Café+Bar starting at 10 p.m. and going on to 1:30 a.m. For P1,150 net, enjoy overflowing drinks and a cocktail buffet with a glass of sparkling wine. The following day, a hearty New Year’s Day Sparkling Brunch Buffet will be served at the Grand Ballroom from 10 a.m. to 2 p.m. for P1,150 net. All buffet offers are free-of-charge for children five years and below while children six to 12 years old get 50% discount on the full price. For inquiries and reservations, call 570-7777.
There’s no better way to express the word “feast” than with an epic Holiday Buffet at the Luxent Hotel. On Dec. 30 and 31, the banquet is open and filled with the season’s favorites including turkey and Roast Beef Pine Ham. Dinner starts at 6 p.m. and ends midnight on Dec. 31. The Holiday Buffet is available for P2,500 net. The Lush Bar and Lounge has Holiday Party Bundles for the season which are available until Jan. 7 from 9 a.m. to midnight every day. Luxent Hotel caps the year off with a party with a polka dot theme, filled with thrills, good food, and a sparkling wine toast at midnight. Guests can feast on an unlimited barbecue selections, pasta, salads, appetizers, desserts and drinks at the Seasons ballroom. A live band and DJ will liven up the night as they draw prizes for the all-night raffle, and a host of other surprises. Kids can enjoy the wait too as they have an indoor film showing. All of this for P1,888 for adults and P888 for kids five to 12 years of age, with kids up to three years old free of charge. Ticket rates are discounted for those availing the Holiday Buffet at the Garden Café. For inquiries or reservations, call 863-7777.
It will be a Cuban-themed New Year’s celebration at The Peninsula Manila
Get together with family and friends at The Richmonde Hotel Ortigas’ Richmonde Café for a lavish New Year’s Eve Gala Dinner priced at P1,560 net. Eat, drink and be merry with an assortment of flavorful dishes, a choice of bottomless iced tea or a glass of red or white wine, party favors, and entertainment. The buffet dinner is served from 6 to 9 p.m. The hotel’s New Year’s Eve Countdown Party will be held at the hotel lobby. From 9 p.m. onwards, groove to the live band and fill out the New Year’s resolution list, while dining at a cocktail buffet which comes with your choice of three drinks. The countdown party ticket, priced at P795 net, is also inclusive of a glass of sparkling wine to toast when the clock strikes midnight. Avail of the New Year’s Eve Gala Dinner and Countdown Party Bundle for P1,880 net. The following morning, greet the first day of the year with the New Year’s Day Breakfast Buffet of breakfast favorites for P880 net. Children six to 12 years old get a 50% discount and while those aged five and below are free-of-charge for all buffet offers. For inquiries and reservations, call 638-7777 or visit www.richmondehotelortigas.com.ph.
Welcoming the New Year at the Eastwood Richmonde Hotel.
For a music-filled star-studded celebration, head to the Eastwood City New Year Countdown from sunup to sundown. The revelry begins at 6 p.m. at the Eastwood Mall Open Park, and ends just before dawn at the Fuente Circle at the Eastwood Citywalk. Headlining the party are some of the biggest names in the music industry including X Factor PH 2012 Grand Champion KZ Tandingan, rap icon Gloc-9, and The Voice PH 2013 finalist Morissette Amon who will top-bill the year-ender countdown at the stroke of midnight. Top band Spongecola is also set to perform together with Sam Concepcion and Kiana Valenciano. Joining the stellar roster of performers are X Factor UK finalist Alisah Bonaobra, and online R&B sensation Karencitta. Eastwood City’s annual tradition, the Dazzling Star Drop — inspired by the Ball Drop in Times Square in New York City — will be held at midnight followed by a fireworks display. The party continues until the early hours of 2018. Guests can head over to Eastwood Fuente Circle and Citywalk 2 and be part of a raucous After Party, which will run from midnight until the early hours of Jan. 1. For more information, call the Megaworld Lifestyle Malls Concierge at 709-9888, 709-0888, 0917-838-0111 or visit www.megaworldlifestylemalls.com.
CITY CENTRAL
Considered by many to be the New Year’s Eve party, this year The Manila Peninsula gala ball and dinner at The Lobby will have a Cuban theme. By midnight, The Lobby will become a sea of balloons and shiny confetti while guests party over food and champagne. Prices are at P9,850 (with a Champagne cocktail) and P6,650 for children under 12 years. The party begins at 9 p.m. The celebration is not complete without a feast: Old Manila offers a five-course set dinner menu by Marco Pierre White-trained Chef de Cuisine Allan Briones; Escolta offers a dinner buffet of salads, Italian antipasti, ripe cheeses, sushi, pasta, holiday hot and cold main course specialties; and Spices offers an Asian-inspired a la carte dinner menu. Dinner offers start at 6:30 p.m. For inquiries, call 887-2888, extensions 6694 (Restaurant Reservations), 7410 (Festive Desk), e-mail diningpmn@peninsula.com, or visit peninsula.com.
Next door, the New Year’s Eve Dinner at Discovery Primea’s Flame restaurant is highlighted by chef Luis Chikiamco’s grilled Colorado rack of lamb, black truffle tortilla de patatas, and river prawn. Guests may opt for either an early five-course dinner at 5:30 p.m. or a seven-course at 10 p.m. For reservations, call 955-8888 or e-mail primearestaurnats@discovery.com.ph.
At New World Makati, Café 1228’s New Year’s Eve dinner comes with one round of sparkling wine and standard drinks for P2,999 per person. The New Year’s day lunch is priced at P2,599 per person. At the award-winning Chinese restaurant, Jasmine, there are several the 10-course set menus with signature dishes and traditional favorites available on Dec. 31 and Jan. 1. The set menu prices start at P9,888 for a group of six guests. Or dine on the Festive Yum Cha Lunch Buffet brimming with steamed, baked and fried dumplings, rolls, noodles and buns at P1,388 per person.
Celebrate the year that was and welcome the New Year with a bang at the Dusit Thani Manila’s Mayuree Ballroom. Ring in the new year to the live music of The Verve Band and dance to the beats of DJ Ornussa Cadness while enjoying unlimited standard vodka, rum, gin tequila, beer, red and white wine, softdrinks, chilled juices and iced tea at P1,800 net per person from 8 p.m. to midnight. Free access applies to guests availing of the New Year’s Eve Set Menu at Benjarong and New Year’s Eve Crossover Dinner. For tickets, call 238-8888 extensions 8430, 8838.
BAYSIDE
Over at the City of Dreams, start the celebration with a seven-course Omakase menu with the whole family at Nobu Manila, then for the New Year’s Eve countdown, the CenterPlay bar features a performance by True Faith while Chaos nightclub highlights a Brazilian Carnival-themed party with bands Brad & Nina and Jason & Anna, together with resident DJs Khai Lim and David Ardiente. The program starts at 6 p.m. The door charge is P1,000 inclusive of two drinks. For inquiries and reservations, call 800-8080, e-mail guestservices@cod-manila.com, or visit www.cityofdreamsmanila.com.
Meanwhile, the Waterfront Manila Pavilion Hotel and Casino welcomes the new year with Sparkle On!, a night of dance, songs, drinks, and food. The hotel’s New Year’s Eve buffet and countdown party cost P1,200 per person. For inquiries and reservations, visit www.waterfronthotels.com.ph or call 526-1212. Welcome the new year while dancing to the mixes of DJs Travis, Mars Miranda, Ace Ramos and enjoy the crooning of Martin Nievera in New Year’s Eve Splash Solaire Resort and Casino’s poolside on Dec. 31. Doors open at 9 p.m. Tickets and schedules are available at TicketWorld (www.ticketworld.com.ph, 891-9999).
On the last night of 2017, guests may ring in the New Year at Conrad Manila’s C Lounge with front row seats for an uninterrupted view of the dazzling fireworks display at Manila Bay. The countdown is accompanied with a performance by Red Picasso. Entrance is priced at P1,000 net per person, inclusive of one beverage. Limited al fresco seating is also available at P30,000 net for a maximum of six persons. For reservations and inquiries, e-mail conradmanila@conradhotels.com or call 833-9999.
Dance the night away with live music by guest DJs and enjoy the magnificent view of the fireworks display by the bay at the New Year’s Eve Countdown Party at the roof deck of the AG New World Manila Bay Hotel. In-house and walk-in guests can enjoy three rounds from a selection of alcoholic or non-alcoholic beverages. Rates are at P1,800 for walk-in guests and P1,500 for in-house guests and restaurant diners. For more information and reservations, call 252-6888, e-mail reservations.manilabay@newworldhotels.com or visit newworldhotels.com.
Party in style at the Diamond Hotel’s Corniche, Lobby Lounge or Bar 27. Kick off the celebration with an elegant feast at the Corniche Buffet (P3,580 net per person) from 6:30 p.m. to 12:30 a.m. and celebrate new beginnings with a glass of Cava, party favors, and access to the New Year Countdown Party with live entertainment by the Infinite Band and Yellow Lane Band. Plus, guests will get a chance to win roundtrip airline tickets for two to Davao. Yurakuen features a savory Japanese Dinner Set Menu which includes Cava and acoustic duo for entertainment at P2,980 net per person from 6 to 10 p.m. At the Lobby Lounge there will be a Jamon and Wine Pairing Dinner at P1,180 net per person from 6 to 9 p.m., and a midnight buffet spread with access to the New Year’s Countdown party. There will also be a midnight buffet spread at the Mezzanine Area for P880 net per person from 10 p.m. to 2 a.m. Enjoy cocktails and barbecue with a festive al fresco vibe at the Poolside Bar for P750 net per person from 6 to 11 p.m. Pop the champagne as you countdown to midnight at Bar 27 with cocktail in hand and a spectacular view of the Manila Bay fireworks. Have your fill of antipasti and tapas with a standard drink priced at P2,800 net per person from 6 p.m. to 2 a.m., with live entertainment by Maria’s Project. Tickets to the Bar 27 New Year’s Eve party are available at onlineshopping.diamondhotel.com at 50% off until Dec. 29. The New Year’s Eve Countdown offers are also available for purchase at onlineshopping.diamondhotel.com. For queries and reservations, call 528-3000 ext. 1121.
SOUTHERN EXPOSURE
Resorts World Manila and Marriott Manila present The Grand Countdown to 2018: Experience the Fantasy starting at 6 p.m. on Dec. 31. Hosted by Giselle Sanchez, the show features Arnel Pineda and Lani Misalucha, with special guests Sam Mangubat, Darren Espanto, and Jon Santos. The Holy Mass begins at 6 p.m. to be followed by the dinner and show at 7 p.m. Tickets and schedules are available at TicketWorld www.ticketworld.com.ph, 891-9999.
Acacia Hotel Manila will welcome the new year with the All That Glitters New Year Countdown Party. Enjoy live music and comedy of Arpie and The Multivitamins, then, just before midnight, head to the topmost floor of the hotel for the grand balloon drop and a view of the panoramic fireworks display over the metro’s south side. The New Year’s Eve party will be held from 8:30 p.m. onwards at the Grand Acacia Ballroom. Tickets at P2,700 net per person are available at the front desk. For reservations call 720-2000 or e-mail enquiry@acaciahotelsmanila.com.
FAR AWAY
For a white beach celebration, there is Coast Boracay, a boutique resort with a beach-front view and walking distance to and from the most happening restaurants, bars, shops and party venues. The resort’s Cha-Cha’s Beach Café will jumpstart its New Year’s celebrations a few days early with performances by a live nine-piece Latin band, Punto Cubano, on Dec. 29, 30 and 31, complemented with live club sessions by DJ Supreme Fist and live percussions by Marcus Maguigad and RWG. On New Year’s Eve, all featured artists will perform at the Latino–inspired countdown party. Guests can party all night while partaking of Cha Cha’s block-party style buffet inclusive of unlimited drinks at the Tropical Cocktail Bar. Cha Cha’s New Year’s Eve Party is priced at P2,500 ++ per person. For details, e-mail reservations@coastboracay.com or call Manila office at 576-4555.
Celebrate the start of 2018 at the City of Love’s Richmonde Hotel Iloilo. At The Granary, there will be a New Year’s Eve dinner buffet for P1,300 net per person. For inquiries call (+63) 33 328-7888 or book online at www.richmondehoteliloilo.com.ph.
THE SENATE is set to tackle at least five priority bills when sessions resume in January 2018, according to Senate President Aquilino L. Pimentel III.
“Come January 2018, we will work on the Anti-Terrorism Law, a law creating the National ID system, a law providing Universal Health Care, the Bangsamoro Basic Law (BBL), and a measure that would convene Congress as a Constitutional Assembly and pave the way for the shift to Federalism,” Mr. Pimentel said in a statement on Thursday, Dec. 28.
The BBL and Federalism are two of the most contentious measures being pushed by the administration of President Rodrigo R. Duterte.
In a press briefing last week, presidential spokesperson Herminio Harry L. Roque, Jr. said the president believes that if the BBL “doesn’t pass the test of constitutionality, then we can resort to further autonomy.”
“And of course, there is still federalism. Because obviously, if it is declared unconstitutional then the remedy is to amend the Constitution,” Mr. Roque said. “So it’s something that stakeholders must consider also, whether or not they will insist on the BBL first or wait until the Constitution has been amended. But the President is being true to his promise to everyone that he will pursue BBL.”
Both President Duterte and Senator Pimentel belong to Partido Demokratiko Pilipino-Lakas ng Bayan (PDP-Laban), which advocates participatory and consultative democracy and federalism.
Sought for comment, Maki T. Datu-Ramos II, a former public lawyer who has worked as a legal consultant of one of the commissioners of the Bangsamoro Transition Commission, said among the “contentious issues in BBL will be the territorial expansion” of the Autonomous Region in Muslim Mindanao (ARMM) through a plebiscite.
“That would be constitutionally problematic because mother territories from respective LGUs (local government units) where constituents or officials of barangays, municipalities or cities subject for plebiscite might raise a constitutional issue before the Supreme Court,” said Mr. Ramos, a Maranao from Lanao del Sur, one of the ARMM provinces.
Meanwhile, Mr. Pimentel also expressed his gratitude to the Filipino people “for their continued trust in his leadership of the Senate” as the latest Social Weather Station (SWS) survey showed that he achieved a “good” net satisfaction rating at +49, up three points from the +46 he received in the Third Quarter 2017 Survey.
“I am grateful for the continued confidence shown in me by the Filipino people. My wish is that my colleagues in the Senate and I can keep their trust in 2018 as we work harder to improve the quality of life for all,” Mr. Pimentel said.
GENEVA — A Muslim indigenous community on the Philippine island of Mindanao has suffered widespread human rights abuses that could intensify with President Rodrigo Duterte’s extension of martial law there, United Nations (UN)-appointed experts said.
Mr. Duterte has called the island a “flashpoint for trouble” and for atrocities by Islamist and communist rebels.
Lawmakers this month overwhelmingly backed his plan to extend martial law there through 2018, which would be the country’s longest period of such emergency rule since the 1970s era of strongman Ferdinand Marcos.
The militarization has displaced thousands of the Lumad people and some have been killed, said Victoria Tauli-Corpuz and Cecilia Jimenez-Damary, the UN Human Rights Council’s special rapporteurs on the rights of indigenous peoples and internally displaced people.
“They are suffering massive abuses of their human rights, some of which are potentially irreversible,” the pair said in a statement late on Wednesday. “We fear the situation could deteriorate further if the extension of martial law until the end of 2018 results in even greater militarization.”
The Philippines was obliged by international law to protect indigenous peoples and ensure human rights abuses were halted and prosecuted. “This includes killings and attacks allegedly carried out by members of the armed forces,” they said.
The government fears that mountainous, jungle-clad Mindanao, a region the size of South Korea that is home to the Lumad, could attract foreign militants.
The UN experts said they had information suggesting that 2,500 Lumads had been displaced since October, and that Lumad farmers had been killed by military forces on Dec. 3 in Barangay Ned in the province of South Cotabao.
“We fear that some of these attacks are based on unfounded suspicions that Lumads are involved with militant groups or in view of their resistance to mining activities on their ancestral lands,” the pair said, without giving further details.
A spokesman for Mr. Duterte said the martial law extension was needed “to quell the remaining terrorists who brought destruction to Marawi and its neighboring communities.”
Its legal and factual basis had been “clearly established based on the security assessment by our ground commanders,” Spokesperson Harry Roque added in a statement.
Since Duterte took power in June last year, the Philippines has also drawn international criticism for the killing of about 3,900 people in police anti-drugs operations. Police deny allegations by human rights advocates that many of the killings were executions. — Reuters
THE Philippine Basketball Association (PBA) presents its final offering for the year 2017 today with a double-header to be headlined by the clash between the TNT KaTropa and Alaska Aces at the Cuneta Astrodome in Pasay City.
Dropped their opener in the season-opening Philippine Cup, both the KaTropa and Aces gun for the bounce-back win in their 7 p.m. encounter that would allow them to book their first victory and have something to build on entering the brand-new year.
Opening the festivities for the final playdate of the PBA this year is the battle between the Rain or Shine Elasto Painters and Blackwater Elite at 4:15 p.m.
TNT bowed to Rain or Shine, 82-79, in its debut on Dec. 22 that saw it struggling to get their offense going.
The KaTropa just hit 30% of their shots on the floor, going 31-of-102, and shooting just eight-of-38 for 21% from beyond the arc.
Despite that, the KaTropa still managed to stay in the contest for much of the game, led by Jayson Castro, until they lost some ground in the fourth period from which they could not recover from.
Mr. Castro finished with a near-triple double of 18 points, 10 assists and nine rebounds in the loss.
Sophomore Roger Pogoy had 16 points while Anthony Semerad and Kelly Williams added 13 and 11 points, respectively.
“We simply missed a lot of shots tonight but still we managed to keep our energy and stay in the game. We have to perform and execute our game plan better next time,” said TNT coach Nash Racela after the game.
ACES
The Aces, meanwhile, look to rebound from their 108-95 loss at the hands of the Magnolia Hotshots on Dec. 20.
While they started the game strong, even claiming the opening quarter, 26-21, the Aces could not sustain it moving forward, particularly in the second canto where they were outscored, 36-21, which proved to be telling in the end.
Calvin Abueva tried his best to lead his team to the victory with solid numbers of 20 points, 15 rebounds and five assists but the Hotshots just had too many answers to what Alaska throw at them.
Vic Manuel also had 20 points while rookie Jeron Teng wound up with 16 of his own for the Aces.
“Defensively we were not really up there. We had a lot of lapses especially in the second period where they made their run. We need to be sharper in our coming games to give ourselves better chances at winning,” Alaska coach Alex Compton said.
In the first game, Rain or Shine (1-0) goes for its second win in as many games while Blackwater (0-1) looks to win its first after losing in its debut.
After today’s matches, the PBA takes a break and returns on Jan. 7 with a double-header at the Smart Araneta Coliseum.
Meanwhile, rookie Kiefer Ravena was the first recipient of the PBA’s player of the week honors after leading the NLEX Road Warriors to a 2-0 record in the Philippine Cup’s opening week.
The second pick in this year’s rookie draft, Mr. Ravena averaged 19 points, 8.5 assists, 4.5 rebounds and two steals in their victories over Kia Picanto and GlobalPort Batang Pier in that order.
The rookie sensation beat out teammate JR Quiñahan, San Miguel’s June Mar Fajardo, Barangay Ginebra’s Greg Slaughter, Meralco’s Niño Canaleta, and Rain or Shine’s Beau Belga and Raymond Almazan for the award.
LOY ARCENAS’ Ang Larawan, the musical film based on the play by National Artist for Literature Nick Joaquin was named this year’s Best Picture at the 43rd Metro Manila Film Festival’s (MMFF) Gabi ng Parangal held on Dec. 27 at the Kia Theater in Quezon City.
Aside from bagging the night’s and festival’s top prize, the film starring theater actress Joanna Ampil and singer/actress Rachel Alejandro, also went home with a Best Actress award for Ms. Ampil, Best Production Design for Gino Gonzales, Best Musical Score for Ryan Cayabyab, the Gatpuno Antonio J. Villegas Award, and a posthumous Special Jury Prize for Nick Joaquin.
“We don’t feel worthy to receive this award in place of Nick Joaquin. We don’t have the right. But we want to share with you a memory we have of him — every time we showed Ang Larawan (the play version) he would be there commenting and laughing… I’m sure up there in the sky he will be saying to all of us: ‘Good job everybody! Contra Mundum!’” said Celeste Legazpi-Gallardo, one of the producers of the film, while accepting the Gatpuno Antonio J. Villegas award for Mr. Joaquin.
Another big winner was Paul Soriano’s Siargao which went home with not just four technical awards — Best Sound for Paul Soriano and Mark Locsin, Best Original Theme Song for “Alon” by Hale, Best Editor for Mark Victor, and Best Cinematography for Odyssey Flores — but the Best Director award for Mr. Soriano and the Best Supporting Actress nod for Jasmine Curtis-Smith. Siargao was also named the Second Best Picture in the festival.
“THANK YOU MMFF2017!!! We didn’t expect that our small film would garner this much recognition. Congratulations Team Siargao!!!” said a post on the film’s official Facebook page.
The Fernando Poe, Jr. Memorial Award went to the reboot of Ang Panday and a Special Jury Prize for Directing went to Rodel Nacianceno — better known by his screen name Coco Martin. Ang Panday was Mr. Nacianceno’s directorial debut.
“Thank you MMFF for this prestigious award. I’m so proud that my son witnessed this unforgettable experience. Dan Villegas thank you for guiding me and helping me bring life to Gab,” said Derek Ramsay in an Instagram post on Dec. 27, having won the Best Actor Award for his work in All of You. “[Thank you] Jennylyn Mercado for being such a great leading lady.”
Joyce E. Bernal’s Gandarrapiddo: The Revengers Squad bagged the People’s Choice Award.
BREAKING RECORDS
While not bereft of controversy — there was much grumbling about how the festival entries were chosen — the MMFF executive committee (Execom) still considers this year’s festival as a success, reporting that the 2017 MMFF “broke box-office records as it surpassed the 2015 [MMFF] first and second day gross sales,” according to a statement posted on its official Facebook page on Dec. 27.
“The big achievement is bringing back our kababayans to the theaters. It took quite some time before we saw this kind of enthusiasm once again from the Filipino viewers,” MMFF Execom Chair Tim Orbos was quoted as saying by the statement.
The statement also added that this year’s festivals “tripled the foot traffic to the theaters from last year.”
The 2016 festival was somewhat of an anomaly as it was composed mostly of quality independent films which earned a smaller box-office take and drew fewer people to the theaters. Last year’s festival posted P413 million in gross receipts compared to 2015’s P1.2 billion. The 2016 festival crowned Baby Ruth Villarama’s Sunday Beauty Queen as Best Picture, the first documentary to win in the festival.
But those waiting for the committee to release the numbers for the first or second day gross and which films which topped the box office, this information will not be made available. The Execom, “along with the producers of the festival entries plus the theater representatives, have agreed not to release any actual figures and rankings so as not to create a bandwagon effect on the viewers,” said MMFF spokesperson Noel Ferrer in a statement posted on his Facebook page on Dec. 26.
“We encourage everyone to support ALL the eight entries because we are as strong as our weakest film,” he added.
The MMFF runs until Jan. 7, 2018.
Below is the full list of winners at this year’s MMFF:
• Best Picture — Ang Larawan
• 2nd Best Picture — Siargao
• 3rd Best Picture — All Of You
• Gatpuno Antonio J. Villegas Cultural Award — Ang Larawan
• Fernando Poe, Jr. Memorial Award for Excellence — Ang Panday
• Best Picture (Short Film) — Anong Nangyari kay Nicanor Dante
• People’s Choice Award (Short Film) — Noel
• Best Director — Paul Soriano (Siargao)
• Special Jury Prize for Directing — Coco Martin (Ang Panday)
• Special Jury Prize (Posthumous) — National Artist Nick Joaquin for Ang Larawan
• Best Actress — Joanna Ampil (Ang Larawan)
• Best Actor — Derek Ramsay (All of You)
• Best Supporting Actress — Jasmine Curtis-Smith for (Siargao)
• Best Supporting Actor — Edgar Allan Guzman (Deadma Walking)
• Best Child Performer — Sebastian Benedict Arumpac, aka Baeby Baste (Meant To Beh)
• Best Screenplay — All of You
• Best Cinematography — Odyssey Flores (Siargao)
• Best Editing — Mark Victor (Siargao)
• Best Production Design — Gino Gonzales (Ang Larawan)
• Best in Visual Effects — Ang Panday
• Best Original Theme Song — “Alon” by Hale (Siargao)
• Best Musical Score — Ryan Cayabyab (Ang Larawan)
• Best Sound — Paul Soriano and Mark Locsin (Siargao)
• Children’s Choice Award — Ang Panday
• People’s Choice Award — Gandarrapiddo: The Revenger Squad
