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PSALM planning to rebid Manila property after last week’s failed auction

STATE-LED POWER SECTOR Assets and Liabilities Management Corp. (PSALM) will rebid a parcel of land in Manila where a thermal power plant used to stand after the agency failed to attract bidders.
“PSALM will look into the reasons as to why the four bidders, who initially purchased bid documents, decided eventually not to participate in the bidding,” the agency said in a statement on Monday, quoting Irene Joy B. Garcia, its president and chief executive.
She declared the public auction a failure due to the non-receipt of any bids on the deadline set at noon of Aug. 15, 2018. The asset’s rebidding will be set as soon as the road map for the second round of bidding is finalized, PSALM said.
The property, which has an approximate area of 20,975 square meters, is valued at around P886 million. It had previously hosted a power plant, which provided electricity to consumers in the Luzon grid before it was decomissioned in 2009.
Proceeds of its privatization was used to liquidate maturing debts of the power sector.
PSALM took over ownership of government-owned power generation assets when the sector was restructured with the passage of Republic Act No. 9136, the Electric Power Industry Reform Act of 2001. Its principal purpose is to manage the orderly sale and privatization of the assets.
The privatization of the Manila thermal power plant paved the way for the clean up of the land ahead of its sale. The agency had expected the proceeds to help augment its funding sources for the management of its assumed liabilities.
PSALM said the property has a potential commercial value because of its proximity to Manila’s business establishments. The land is on Isla de Provisor along the Pasig River in Paco, Manila.
In its invitation to bid published on Aug. 8-10, 2018, the PSALM board set the a minimum bid price for the property at P885,746,650. It said the invitation did not refer to a new project, but merely intends to inform interested bidders of the land’s minimum bid price.
PSALM first published its invitation on Dec. 5-7, 2017 without disclosing a minimum bid price. Any bid below the minimum will be rejected during bid opening. Interested parties were informed that the property will be sold on an “as is, where is” basis.
The bidding was open to individuals and sole proprietorships, partnerships or corporation, joint ventures or consortiums, government corporate entities and local government units authorized by law to acquire, own, hold or develop real properties in the Philippines.
If the bidder or any of its components is a corporation, it must be duly registered and organized under the laws of the Philippines and at least 60% Filipino-owned. — Victor V. Saulon

Hilton eyes more partnerships in PHL

By Arra B. Francia
Reporter
HILTON WORLDWIDE Holdings, Inc. is on the lookout for more partnerships with hospitality institutions in the Philippines, as it seeks to develop more talents to serve the growing tourism industry in the country.
The global hospitality firm sees a need to enhance the talent pool in country to accommodate the projected influx of tourist arrivals in the coming years. Citing government data, the company said international arrivals grew by 10.96% to 6.6 million in 2017, and is further expected to rise in the next 10 years from top spending markets such as Korea, the United States, and China.
With this, Hilton is looking to take advantage of the opportunities in the hospitality sector.
“We are always committed to nurturing and developing talent across the country, especially among young people. Our goal is to impact at least one million young people by 2019, and we strive to connect, prepare, and employ these talents, such as through alliances with schools,” Hilton Vice President for Human Resources for Asia-Pacific Brendan Toomey said in an e-mailed response to questions sent by BusinessWorld.
“We conduct training sessions and bring on board interns and management trainees from these school alliances, and are on the lookout for suitable partners in the Philippines,” Mr. Toomey added.
Hilton noted comprehensive training is essential in delivering value service to their guests. For this, the company has several initiatives to ensure that each member undergoes comprehensive training, including the Management Trainee Program, Asia Pacific Elevator Program, and E3 Leadership Development Curriculum.
The Management Trainee Program is an 18-month program in Southeast Asia, Japan, and India where youths who want broader operational exposure but do not have any hospitality experience can be trained for 18 months.
The Asia Pacific Elevator Program is for those aspiring to become general managers, and are deployed in the Operations, Commercial, Finance and Human Resources functions. Trainees are also rotated to properties in two countries to broaden their perspectives on various cultural contexts.
Meanwhile, the E3 Leadership Development Curriculum is described as a “globally harmonized framework for leadership development with three distinct tracks – Elevate, Engage and Excel, aligned with different career stages for our Team Members.”
“We are committed to helping (our team members) reach their full potential, so that they can deliver that renowned hospitality experience that is synonymous with our brands,” Mr. Toomey said.
Alongside the need to train more people for the hospitality sector, Hilton said the number of hotel rooms in Metro Manila are not enough to accommodate the large tourist numbers. Citing a study by Pinnacle Real Estate Consulting Services, Inc., the company said Metro Manila needs an additional 70,000 rooms for tourists.
Hilton has taken this as an opportunity to expand its presence in the country through the opening of Hilton Manila this October. The Hilton Manila expects to cater to the demand for business and leisure travelers, at the same time creating employment opportunities in the country.

Prince’s 1995-2010 albums made available for streaming

LOS ANGELES — The estate of prolific late pop icon Prince made more than 300 songs from his later career available on digital download and streaming services for the first time on Friday.
The tracks come from 23 albums — from 1995’s The Gold Experience to 2010’s 20Ten — that have been launched online as part of a deal struck with Sony’s Legacy Recordings.
There is also a new 37-track compilation called Prince Anthology 1995-2010, made up of highlights from the 23 albums.
“Many of these albums, long sought-after by fans and collectors, are available for the first time for streaming and download, adding more than 300 essential Prince songs to the artist’s online in-print catalog,” Legacy said in a statement.
The Prince Estate and Sony Music Entertainment reached an agreement in June that would see Legacy digitally distribute 35 Prince albums in total.
The music includes previously unreleased albums as well as singles, B-sides, live recordings and other rarities.
The songs come from Prince’s later career, when he was at his most industrious, and putting out up to four albums a year.
“Freed from major label demands and expectations, Prince was able to write, record and release his own music on his own terms,” Legacy added.
Variety magazine noted that Prince’s biggest hit from that period, 1994’s “The Most Beautiful Girl in the World,” has not been included, despite being on The Gold Experience.
It quoted an unnamed source who said the track was “on legal hold as a result of existing litigation.” — AFP

T-bills fully awarded on strong liquidity

THE GOVERNMENT made another full award of the Treasury bills (T-bill) it auctioned off on Monday as rates slipped across all tenors on the back of additional liquidity in the market amid P91-billion worth of maturing state debt.
The Bureau of the Treasury (BTr) borrowed P15 billion as planned at its T-bills auction yesterday. The offer was almost thrice oversubscribed as demand from investors totalled P43.1 billion, albeit slightly lower than the P49.4 billion recorded at last week’s offering.
Broken down, the government borrowed P4 billion as planned via the 91-day tenor yesterday as tenders amounted to P12.857 billion. The average rate for the papers slid 4.1 basis points (bp) to 3.203% from the 3.244% logged in the previous auction.
For the 182-day T-bills, the Treasury borrowed P5 billion as planned out of the P17.928 billion offered by banks and other financial institutions. The average yield likewise declined by 5.3 bps to 4.064% from the 4.117% quoted in the previous offering.
The government also made a full award of the 363-day papers, accepting the programmed P6 billion out of total offers amounting to P12.358 billion. Its average yield likewise declined 2.3 bps to 4.869% from last week’s 4.892%.
At the secondary market prior to the auction, three-month and six-month papers were quoted at 3.615% and 4.0651%, respectively, while one-year securities fetched a 5.1077% yield.
At the close of the trading, the yield on the 91-day T-bill was steady at 3.615%, while rates of the 182-day and 364-day papers went down to 4.0641% and 4.8366%, respectively.
National Treasurer Rosalia V. De Leon said the government opted for another full award yesterday given strong liquidity in the market.
“The appetite continues to be on the short end but nonetheless we see that the rates are already trending downwards,” Ms. De Leon told reporters on Monday.
“We have maturities of about P91 billion. P86 billion would mature [on Monday] and then another P5 billion within the week. That will also go to the system [as it will increase liquidity].”
She added that the 50-bp rate hike by the Bangko Sentral ng Pilipinas (BSP) earlier this month “calmed” the market.
“We see that after the 50-bp hike was delivered, I think that has also calmed the market. More or less, we see rates on a downward trajectory,” Ms. De Leon said.
The central bank’s policy-setting Monetary Board raised key rates by 50 bps on Aug. 9 — the third consecutive tightening move this year — to temper inflation expectations. Rates now stand at a 3.5-4.5% range.
“And also the pronouncements of [BSP Deputy Governor] Diwa [C. Guinigundo] that eventually inflation will peak sometime in September, so [market players] see that rates are also trending downwards.”
Meanwhile, a trader said the auction result was within market expectations.
“As expected, we saw strong demand on the Treasury bills due to the recent maturity of the bonds,” the trader said in a phone interview
“There’s also an upcoming maturity this Aug. 22 worth P5 billion so that drove the bids lower.”
The Treasury is set to raise P300 billion from the domestic market this quarter through auctions of securities, offering P195 billion in T-bills and another P105 billion in Treasury bonds.
The government plans to borrow P888.23 billion this year from local and foreign sources to fund its budget deficit, which is capped at 3% of the country’s gross domestic product.
MARAWI BONDS
Meanwhile, Ms. De Leon said yesterday that the Treasury is discussing with the Bangon Marawi team the necessary funding for the planned retail Treasury bonds for the rehabilitation of the war-torn city.
“We are already discussing with the Bangon Marawi team in terms of the requirements and also about their plans and requirements,” she said, noting they are focused on the campaign to encourage Filipinos to participate.
Last week, the national treasurer said the government has already secured necessary approvals for the planned retail Treasury bonds for the rehabilitation of Marawi city worth an indicative P50-60 billion, but the timing of the offering has yet to be determined.
“The structure that we’re looking at for the Marawi bonds is we want everyone to contribute to help. Even for those [overseas Filipino workers] through online means because if they do that online, they don’t have to go through banks,” Ms. De Leon said. — Karl Angelo N. Vidal

SC sets aside CA decision on PT&T rehab plan

By Denise A. Valdez
THE SUPREME COURT (SC) has reversed the appellate court’s decision to junk Philippine Telegraph and Telephone Corp.’s (PT&T) rehabilitation plan, the telecommunications company said on Monday.
In a disclosure to the stock exchange on Monday, PT&T said the High Court on July 11, 2018 issued a resolution that granted the company’s motion for reconsideration and reinstated its appeal against the May 2017 Court of Appeals (CA) decision that stopped its rehabilitation plan.
“Given the circumstances, this is a favorable decision for PT&T,” the company’s legal counsel Kenneth Joey H. Maceren said.
The Court of Appeals last year dismissed PT&T’s petition for rehabilitation, siding with a group of creditors.
Earlier this month, PT&T said the regional trial court (RTC) of Makati City, which acted as its rehabilitation court, has allowed the company to exit its court-assisted corporate rehabilitation on Aug. 6 “subject to compliance with certain requirements in line with the approved Rehabilitation Plan.”
PT&T chief operations officer Miguel Marco A. Bitanga told BusinessWorld in a text message on Monday that the company’s priority is still to leave rehabilitation.
“We just have to make sure we do whatever is necessary to exit rehab, and addressing both the rehab case with the RTC and the appeal with the SC would help ensure this objective is met,” he said.
Mr. Bitanga earlier said leaving rehabilitation would let the company raise additional capital in the stock market to finance its plans for expansion.
PT&T is vying to participate in the government’s bid for a so-called “third telco” player. PT&T Chief Executive Officer James G. Velasquez said earlier this month that leaving rehabilitation is “another proof” of its commitment to this endeavor.

CPG tops off 5th tower in QC project

CENTURY PROPERTIES Group, Inc. said it has topped off Roxas West, the fifth residential tower at The Residences at Commonwealth in Quezon City.
“In Century we have dreamed of a community that will set a new benchmark for residential living in Quezon City — a beautiful vertical village that is safe, well-designed and teeming with unique amenities. Now here we are, halfway through our vision. We look forward to completing this project soon and we thank all our employees and unit owners for its success,” CPG Chief Operating Officer Marco R. Antonio was quoted as saying in a statement.
The Residences at Commonwealth is an eight-tower, mid-rise community located in Don Antonio Drive near the corner of Commonwealth Avenue.
The towers are named after the Philippine presidents of the Commonwealth era — Manuel L. Quezon, Sergio Osmeña, Sr., and Manuel A. Roxas.
CPG said Osmeña West, Quezon North and Roxas East towers have already been turned over, while Osmeña East is set to be turned over in the fourth quarter. The remaining four towers are targeted to be completed within the next two years.
The Residences at Commonwealth boast of unique amenities. For instance, the Clubhouse will have an arts and crafts studio, study and library room, screening room, a cooking studio, and a rock-and-roll studio. It will also have a nursery and kindergarten, as well as gym and dance studios.

Angelina Cruz releases debut EP

HAVING ALREADY found success on Spotify, singer Angelina Cruz has released her self-titled debut album under Universal Records.
Her EP, the 16-year-old singer’s debut single “Sumilong Ka,” recently reached over 1.6 million streams on Spotify, while her rendition of Orange and Lemon’s original song “Hanggang Kailan (Umuwi Ka Na Baby)” has reached 2.3 million streams.
Angelina Cruz — her full name is Angelina Isabele Cruz Montano — is the eldest daughter of TV actress Sunshine Cruz and actor Cesar Montano.
It was only two years ago that Angelina Cruz realized that she could sing.
“When I was a kid, I never really saw myself as a singer. It’s usually my younger sisters who love to sing. Just recently — two years ago — I bought a ukulele and I learned how to play. Eventually, I did [song] covers, and I uploaded some of them online and I got good comments. So that’s when I realized that I should hone my talents more,” Ms. Cruz told BusinessWorld at a press conference for the album launch at Café Dominique in Quezon City last week.
The singer’s mother contacted Universal Records after finding out that her eldest daughter started singing.
The self-titled album, Angelina, includes original tracks such as “Kaya Mo Ba?,” the singer’s Tagalog-English single; “Paraiso” featuring Iñigo Pascual; and the previously released “The Boy I Used to Know” and “The Best of You.”
The singer said that the songs on the album are love songs she “can related to.”
Ms. Cruz said that she plans to venture into exploring other music genres and writing her own songs in the future. “I really want to make a name for myself and set my own path — write new songs, write my own songs, and maybe explore genres of music,” she told the press.
Angelina is available on iTunes, Spotify, Apple Music, Amazon, and Deezer. — Michelle Anne P. Soliman

Burned by China default, yield-hungry Korean funds shift sights towards Qatar

SOUTH KOREA’S yield-hungry investors who were spooked by a Chinese default are shifting their sights to the other end of the continent, to the Middle East.
One hot product is short-term securities backed by deposits at Middle East banks. Korean money managers increased such purchases 23% in the first half to 10.3 trillion won ($9.2 billion), with Qatar making up the majority, according to data from Korea Investors Service. Meanwhile, investments in products linked to Chinese bank deposits plunged 43% to 9.2 trillion won.
A default by China Energy Reserve & Chemicals Group Co. in May ruined demand for Chinese debt among Korean short-term investors such as money market funds, because other bonds from the company had been repackaged into commercial paper sold in the Korean market. Korean investors are looking instead at Middle Eastern bank deposits that typically offer better yields than local or Chinese banks.
Lenders in Qatar need funding after a Saudi Arabia-led group of nations cut commercial links with the country last year. Moody’s Investors Service said risks faced by Qatar include a possible escalation of regional tensions that threaten to disrupt its hydrocarbon exports and pressure the country’s finances. It may also get tangled up in Turkey’s troubles after pledging $15 billion of direct investment in the country.
Still, Moody’s raised Qatar’s Aa3 rating outlook to stable from negative last month, saying the country can withstand the economic, financial and diplomatic boycott by three neighboring countries and Egypt.
Middle East deposits “will likely continue to appeal to investors as they’re trying to get a bit more yield amid a low interest-rate environment at home,” said Kim Sun-ju, a credit analyst at SK Securities Co. in Seoul.
PROFITABLE BANKS
Fitch Ratings said that while Qatar’s banking system relies on foreign funding and is exposed to a weak domestic real estate sector, it has remained sufficiently profitable to “absorb foreseeable pressure on funding costs and asset quality,” according to a report in June.
The structured products backed by Middle Eastern deposits, sold through special-purpose vehicles created by Korean brokerages, typically mature in six months to a year. They carry yields of about 2.4% for those with one-year maturity after hedging for currency moves. That compares with a 1.8% yield on similar-maturity won government debt.
Qatar National Bank QPSC’s deposits accounted for more than half of the deposits, followed by Doha Bank QPSC and Emirates NBD PJSC, according to KIS data. Debt backed by the deposits of Qatar’s Al Khalij Commercial Bank PQSC was sold to investors in Korea for the first time this year.
China’s financial deleveraging campaign also reduced sales of the nation’s deposit-backed debt in South Korea as lenders needed less funding for loans, according to Taewoo Park, a credit analyst at Samsung Securities Co. in Seoul.
“Middle Eastern banks filled the vacuum,” he said, adding that while the Turkey move may affect investor sentiment, it’s unlikely to develop into a credit issue. — Bloomberg

APC’s Kalinga geothermal project to get perks

A UNIT OF APC Group, Inc. has secured the government’s certification for its geothermal development in Kalinga province as a project of national significance, giving it perks including speedy regulatory permitting, the holding firm said on Monday.
“We hereby disclose that pursuant to Executive Order (EO) No. 30, the Energy Investment Coordinating Council (EICC) through the Department of Energy recently approved the application of Aragorn Power and Energy Corporation (APEC) for its Kalinga Geothermal Project to qualify as an Energy Project of National Significance,” it told the stock exchange.
During the pre-development phase, the certificate entitles APEC’s geothermal project to all the rights and privileges provided for under EO 30 series 2017, including action on the application within 30 working days.
EO 30 was signed by President Rodrigo R. Duterte in June 2017, while the Energy department issued the implementing rules and regulations in April 2018.
The project in Kalinga, Cordillera Administrative Region will enjoy presumption of prior approval, that is, it is presumed to have already complied with the requirements and permits from other government permitting agencies.
It will be deemed approved if no action is made five days after the lapse of the 30-working day period for processing of the application.
APC said the submission of monthly monitoring sheet is every 10th of the succeeding month to the EICC secretariat. It will list in detail the progress of the implementation of the project with respect to its permitting requirements.
The company said the certificate for the pre-development stage was issued in favor of APEC, its majority owned subsidiary.
On Monday, shares in APC jumped 32.61% to close higher by P0.15 at P0.61 each. — Victor V. Saulon

Avida targets young, single professionals for 2nd Davao project

DAVAO CITY — Avida Land Corp, the mid-range brand of property giant Ayala Land Inc, (ALI), has launched its second condominium project here, targeting young and single professionals as a major market.
The upcoming Avida Towers Abreeza will be located across the 10-hectare Abreeza complex, a mixed-use joint venture between ALI and homegrown firm Anflo Management and Investment Corporation (ANFLOCOR).
In an interview, Maria Teresa A. Tatco, Avida marketing head, said the project is capturing millennials, which currently comprise about 25% of their buyers.
“These are those who want to be in a live-play-work (community that is) just a walking distance. In fact, as early as 2012, when no one was delivering or saying that this can be a potential market… Our main market then was the typical 35 to 45 years old like young families, but we saw that this market (millennials) are actually buying,” she said.
Ms. Tatco said Avida designed a campaign to counter perception that young professionals could not possibly afford an Ayala-developed property.
“They thought they cannot buy an Ayala property because of the thinking that it is too expensive, but we explained that this is a stretched downpayment and you can own a unit for as low as P15,000 in a horizon of three years,” she said.
The Avida Towers Abreeza will initially have one building, with an investment cost of about P1.7 billion. It will have 736 residential units in 23 floors and three podium parking floors. It will also have commercial units on the ground floor.
The units range from 22 to 52 square meters, with prices ranging from P2.9 million to P7.7 million.
Herbert M. Herrero, Avida Land assistant vice president of project and strategic management group, said construction is expected to start in the first quarter of next year and turnover of units will be in 2023.
The first Avida project in Davao City, the Avida Towers, is located at the downtown area.
“It is good that we are launching again because we felt that the reception of the market of our first development medyo maganda (quite good), and now we still feel the same reception,” said Mr. Herrero.
Mr. Herrero also said the company is now looking at available properties for a horizontal residential project.
“We are really on the lookout. Avida is looking at 20 hectares optimum for a subdivision development. Hopefully, we get to purchase a property. We don’t rush things, we talk to everybody also,” he said. — Maya M. Padillo and Carmelito Q. Francisco

Revolution Precrafted seals $210-million US deal

REVOLUTION PRECRAFTED PROPERTIES, Inc. is expanding into the United States after securing a $210-million deal to build luxury villas in California.
The property technology firm said in a statement that it bagged a contract with Imperial Heights LLC for the supply of “ultra-high luxury” residential villas in San Gabriel Mountains, San Bernardino County in California.
Under the contract, Revolution Precrafted will build 60 residential villas spanning at least 450 square meters with around five to six bedrooms each. The company said each villa will cost $3.5 million.
The villas will stand on a 24-acre property inside a gated luxury residential development in San Gabriel Mountains called Imperial Heights Estates.
The company has also been placed in charge of land and site development.
Revolution Precrafted Founder and Chief Executive Officer Jose Roberto R. Antonio said the design of the villas is still being finalized, with development to start by the first quarter of 2019.
“We have enjoyed great success in Asia, Europe, and Latin America and we are proud that through our extensive partners network, we have finally broken through the United States, which is one of our primary target countries,” Mr. Antonio said in a statement.
Revolution Precrafted described Imperial Heights as a US-based company involved in real estate development for 22 years now. It has single and multi-family residential structures in California, Las Vegas, and Utah.
With the partnership with Imperial Heights, Revolution Precrafted is now present in 17 markets worldwide. It has struck several partnerships with international companies in the past six months, including a $52-million project in Spain, a $1.2-billion project in Myanmar, and $3.2-billion project in Dubai.
The company has also forged partnerships with property companies in the Caribbean nations of Trinidad, Guyana, Jamaica, and the Bahamas, as well as in Japan, Puerto rico, Ecuador, Brazil, and Cyprus.
Locally, it is currently developing prefabricated structures for Century Limitless Corp. for the $1.1-billion Batulao Artscapes in Nasugbu, Batangas, the $750-million Revolution Flavorscapes in Mexico, Pampanga, and the $125-million Puerto Azul project in Cavite. — Arra B. Francia

Must-read: 10 books adapted to film in 2018

IT’S ONLY halfway through 2018 but it has already been a great year for book-to-film adaptations. Here is a list of the books that every book and film lover must catch up on before seeing them on-screen.
• The Guernsey Literary and Potato Peel Pie Society by Mary Ann Shaffer and Annie Barrows. Set in post-World War II London in 1946, this epistolary novel follows author Julie Ashton as she corresponds with the members of The Guernsey Literary and Potato Peel Pie Society, a book club hastily created by its members as an alibi for breaking curfew during the German occupation. Mike Newell’s film adaptation is currently available on Netflix and stars Lily James as Juliet Ashton.
• To All the Boys I’ve Loved Before by Jenny Han. The author, who graced last year’s Manila International Book Fair (MIBF) for a book signing, was inspired to write To All the Boys I’ve Loved Before from her teenage habit of writing letters to her crushes. The novel tells the story of 16-year-old Lara Jean Covey, whose life spirals out of control when her letters are secretly mailed out. Susan Johnson directs the Netflix film based on the novel, released on Aug. 17, and which stars X-Men: Apocalypse’s Lana Condor.
• Crazy Rich Asians by Kevin Kwan. This breakout debut novel pulls readers into the whirlwind that is the lives of, well, crazy rich Asians. Directed by Jon M. Chu, the film adaptation is the first Hollywood film since The Joy Luck Club in 1993 to feature an all-Asian cast. It opens in cinemas on Aug. 22. (Tip: Keep your eyes peeled for Kris Aquino’s cameo.)
• First Man: The Life of Neil A. Armstrong by James R. Hansen. This official biography gives an in-depth account of astronaut Neil Armstrong’s life and career and the journey leading to the momentous Apollo 11 mission. First Man, the film based on the biography, stars Ryan Gosling as Neil Armstrong and Claire Foy as Janet Shearon, Neil Armstrong’s first wife. The movie is set for theatrical release in October.
• The Girl in the Spider’s Web by David Lagercrantz. In this book, David Lagercrantz continues the late Stieg Larsson’s gripping Millennium series that began with The Girl with the Dragon Tattoo. The sequel sees hacker Lisbeth Salander assisting journalist Mikael Blomkvist in investigating an organization named the Spider Society. Taking the place of Rooney Mara who played Lisbeth in the first film adaptation, Claire Foy plays Lisbeth in the November film sequel directed by Fedé Alvarez, also known as director of acclaimed thriller Don’t Breathe.
• Boy Erased: A Memoir by Garrard Conley. In his memoir, Garrard Conley recounts his childhood as the son of devout Baptist parents who was made to undergo conversion therapy after being outed at 19 years old. The book includes details of Conley’s as well other participants’ experiences of the program. Joel Edgerton directs and stars in Boy Erased, also starring Nicole Kidman and Russell Crowe as the parents of Jared Eamons, played by Lucas Hedges. The film is set to be released in November.
• Fantastic Beasts and Where to Find Them by J.K. Rowling. Potterheads, it is time to dive back into the wizarding world as the sequel to the 2016 adaptation of J.K. Rowling’s Fantastic Beasts and Where to Find Them, a textbook on the universe’s magical creatures, is coming out this November. Eddie Redmayne reprises his role as Newt Scamander in Fantastic Beasts: The Crimes of Grindelwald, accompanied by Jude Law as Albus Dumbledore and Johnny Depp as Gellert Grindelwald. Returning director David Yates direct the sequel with a screenplay again by Rowling.
• Mortal Engines by Philip Reeve. This book imagines a post-apocalyptic world in which London has been transformed into a “Traction City” that moves on wheels and consumes other cities to obtain resources. The first novel in the tetralogy, Mortal Engines follows Tom Natsworthy and Hester Shaw as they find themselves stranded outside of London. Co-written and co-produced by Peter Jackson, Christian Rivers’ film adaptation comes out in December, starring Hugo Weaving and Hera Hilmar.
• My Heart Is My Own: The Life of Mary Queen of Scots by John Guy. In this biography, Guy examines the archives and re-analyzes the life of Mary Stuart, opening room for new interpretations to the queen’s tragedy-laden life. Saoirse Ronan stars as Mary Stuart opposite Margot Robbie as Queen Elizabeth I in the historical drama directed by Josie Rourke. The film is set for a December release.
• Mary Poppins by P.L. Travers. It’s only been a 54-year-long wait, but finally, the sequel to the classic film starring Julie Andrews is coming in December. Mary Poppins Returns will see Emily Blunt starring as the titular character, with Lin-Manuel Miranda, Julie Walters, Colin Firth, and Meryl Streep joining her in the cast. In the meantime, revisit her magical adventures with the Bankses through P.L. Travers’ Mary Poppins series — there are eight books in total.
All of these books and more will be available at the 39th MIBF, set on Sept. 12-16 at the SMX Convention Center, Mall of Asia Complex, Pasay City. For details, call 896-0661 or 896-0682, e-mail bookfair@primetradeasia.com, or follow @ManilaBookFair on Facebook, Twitter, and Instagram.

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