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D&L recurring profit jumps 14% in Q2

D&L Industries, Inc. (DNL) expanded its recurring income by 14% to P784 million in the three months ending June, driven by higher volumes for the high margin specialty product (HMSP) segment of its food business.
The listed manufacturer of customized food ingredients and specialty raw materials said in a statement on Thursday that this pushed the first-half recurring income 13% higher to P1.53 billion. Revenues, meanwhile, stood at P13.2 billion, four percent higher year-on-year.
The earnings for the first half translate to an earnings per share of 21 centavos.
DNL attributed the profit growth to the 14% increase in volumes from the food unit’s HMSPs, which accounted for 63% of total revenues. The company noted the segment’s growth for the period is twice its historical average increase of seven percent.
“The pick-up in HMSP is encouraging as it represents the side of the business that is recurring and sticky,” the company said. This allowed a two percent year-on-year increase for the food ingredients segment.
The commodity business meanwhile contributed 37% of total revenues. Blended commodity margins climbed to 9.7% for the second quarter alone, versus four percent in the previous quarter, pushing overall gross profit margin to 18% in the first half, one percentage point higher year-on-year.
Exports accounted for 21% of DNL’s revenues, indicating a five percent drop due to the higher base it recorded in the same period a year ago. Oleochemical products — which are chemicals processed from coconut oil — were the top contributor to exports at 35%, as the company saw strong demand for high margin coconut-derived oleochemicals from developed countries.
The company earlier said it targets to have its export business contribute half of its total revenues by 2025, as it prepares to enter new markets in the Asia-Pacific region.
Shares in DNL rose 20 centavos or 1.89% to close at P10.76 each at the stock exchange on Thursday. — Arra B. Francia

Lady Gaga heads to Vegas with dual shows

NEW YORK — Pop star Lady Gaga on Tuesday announced a residency in Las Vegas with twin shows to display her two sides — extravagant and glitzy, and stripped back and jazzy. Lady Gaga said her shows would begin on Dec. 28 at the newly rebranded Park MGM, a giant complex on the Las Vegas Strip which was initially built as the Monte Carlo Resort and Casino in the style of the Mediterranean gambling hub. The star plans two shows, with one, entitled Lady Gaga Enigma, promising more of her theatrics. The other show, Lady Gaga Jazz and Piano, will star her singing minimalist versions of her songs as well as pop standards. Lady Gaga announced Enigma shows through November 2019 with only a handful of the stripped-back concerts. — AFP

Delivering a thoroughly stunning experience


By Anthony L. Cuaycong
THERE was a time when fighting games were little more than button-mashing exercises. Perhaps the relative lack of complexity was due to the genre being in its infancy stage. Perhaps it was borne of the publishers’ intent to be as inclusive as possible. In any case, gamers still found them irresistible for the most part, if for no other reason than because they afforded the opportunity for instant gratification. In comparison to, say, sports titles, fights involved short matches and rematches. Bragging rights were passed on quickly and often, and the speed with which they were earned, lost, regained, and desired anew served only to ramp up the intensity of the competition.
That said, it was inevitable for developers to build on their products, and the sheer number of alternatives vying for gamers’ time and money led to continuous improvement. These days, fighting games are much more complex, and with rapid advances in technology have come challenges from practically anywhere in the globe. Those standing in the way of ultimate success are no longer in the same room, and, in all probability, not even in the same country. Which is why the most serious gamers invest no small measure of effort in mastering the intricacies of a given title, taking pains to get to know their character(s) as best they can and thereby mastering the pace, speed, combinations, and strategies required to prevail.
Needless to say, the commanding level of commitment is secured only by the best fighting games. And, in this regard, it’s no wonder that few titles boasting of diverse sets of characters with compelling story lines, of engaging game play that requires hours upon hours to navigate, and of competitive balance have built a cachet of goodwill. For Arc System Works, BlazBlue is thankfully such a title, in the last decade claiming a loyal following that expects each subsequent release in the franchise to be bigger and better.
In this regard, Nintendo Switch owners are fortunate to get an outstanding port of BlazBlue: Cross Tag Battle. Visually and aurally, it’s a feast for the senses. The two-dimensional sprites retain their familiar flair, propped up by intricate backgrounds that convey spatial depth. At the same time, the anime-inspired sound track succeeds in highlighting the action, with the option to choose between English and Japanese language tracks a decided plus. Summarily, the release for the hybrid console holds its own vis-a-vis those for the PlayStation 4 and the PC in terms of presentation.
Given BlazBlue: Cross Tag Battle’s pedigree, it is, not surprisingly, deep and engrossing. It isn’t just that 20 characters are available at the outset; it’s that they include venerable names from the Persona, Under Night In-Birth, and RWBY lines. Arc System Works has pulled out all the stops, leveraging its productive relationships with Atlus, French Bread, and Rooster Teeth to secure appropriate rights on the use of such notables as Yu Narukami, Yosuke Hanamura, Hyde Kido, Linne, Ruby Rose, and Weiss Schnee. Significantly, another 20 are available as downloadable content, with more planned, giving substance to its positioning as a fan-friendly crossover fighter.
Gameplay-wise, BlazBlue: Cross Tag Battle performs admirably on the Switch. Whether docked or on the go, controls are tight, and combos can be executed with relative ease; the Joy-Cons do the job well, but the Pro Controller is especially responsive and, absent a third-party arcade stick, should be the default choice in competition. Certainly, it helps that gamers need only concentrate presses on the A, B, C, D, and P buttons, with tag-ins made between teammates, properties utilized, and attacks done via the right sequences. In this regard, the capacity to map two-button presses serves gamers well, allowing for the buildup of in-game gauges and the subsequent execution of special moves unique to character choices. Be forewarned, though: Astral Heat finishes are difficult to pull off given their conditional hurdles.
Significantly, BlazBlue: Cross Tag Battle offers a satisfying “Episode Mode” that has gamers run through just about the whole gamut of character combinations, in the process enabling them to settle into one that suits their playing style. And there is substantial exposition between fights, a boon for those deep into character development. On the flip side, the omission of any quick-play, arcade-type mode will nag at those who prefer to go straight to the meat of the game.
All the same, the comfort level will eventually be such that progression to rewarding multiplayer challenges is assured. And this is where BlazBlue: Cross Tag Battle truly shines. Whether across the couch from a friend or across continents against a total stranger, it delivers a thoroughly stunning experience. Apart from character introductions, online lag is virtually nonexistent, and at no time does it give the impression of uneven competition; regardless of the choices made, gamers know they’re part of fair fights, with the outcome dependent on the right mix of skill and good fortune.
In the final analysis, BlazBlue is a superb offering from Arc System Works, providing a dream lineup of 20 popular characters off the rack (and at least 20 more behind a paywall) through spectacularly polished game play. As a gift slated to keep on giving, it’s the best fighting game on the Switch by far. At $49.99, it’s filled to the brim and a decided bargain for casual fans and hard core gamers alike.

DoLE bans employers from profiting from wage deduction schemes

THE LABOR department has banned employers deducting wages from workers for payment plans from profiting as a result of their participation in the scheme.
The Department of Labor and Employment (DoLE) made the changes in Department Order (DO) 195, “Rules Amending Section 10 of Rule VIII of the Implementing Rules and regulations of the Labor Code on Wage Reduction” which was signed by labor secretary Silvestre H. Bello on July 27.
Section 10(b) was amended as follows: “When the deductions are with written authorization of the employees for payment to the employer or a third person and the employer agrees to do so… the latter (must) not receive any pecuniary benefit directly or indirectly, from the transaction.”
The amendment is consistent with Article 113(c) of the Labor Code of the Philippines which states that employers can deduct from wages “In cases where the employer is authorized by law or regulations issued by the Secretary of Labor and Employment.”
Article 113 also prohibits deductions from wages except “in cases where the worker is insured with his consent by the employer, and the deduction is to recompense the employer for the amount paid by him as premium on the insurance” and “For union dues, in cases where the right of the worker or his union to check-off has been recognized by the employer or authorized in writing by the individual worker concerned.”
DO 195 added that the issuance should not be used as a reason to cause “diminution or substitution of any benefits and privileges” of the employee. — Gillian M. Cortez

Mother’s ghosts

By Noel Vera
Movie Review
Mamang
Directed by Denise O’Hara
MARIO O’HARA passed on in 2012. His niece Janice O’Hara chose one of his scripts (rewritten extensively by her father Jerry O’Hara) to be her debut feature (Sundalong Kanin [Rice Soldiers, 2014]), arguably one of the best of 2014. Janice died two years later, leaving us that one film, compelling us to ask: is there some kind of curse on this family that blesses them with filmmaking and storytelling talent, but relatively fragile lives?
Now Janice’s twin sister Denise — who helped produce Sundalong Kanin — has dared that so-called curse by writing and directing her own feature.
Where Janice’s feature was an ambitious drama set in a small town during the Japanese Occupation, Denise’s is an intimate character study of essentially one person. Mamang (Mama, 2018) is the story of Celeste Legaspi’s eponymous character, confined mostly to her darkly gorgeous 19th century house, an aging wife and mother left by her job-seeking son Ferdie (Ketchup Eusebio) to dwell on her memories.
Only her memories turn out to be more than just vague daydreams. She smashes garlic, fries them in hot oil (you hear — and can almost smell — the sizzling garlic), adds the old cold rice (the best kind for frying). Crisps dried fish and eggs, transfers them to a plate, lays them on the kitchen table. Gently shoves the hot rice on a plate, turns, lays the plate on the table — and only then realizes there’s a uniformed man (Paolo O’Hara, the director’s brother) sitting there, starting on the fish and eggs.
Who is he? Frightened, she wakes Ferdie, but when her son finally gets up to take a look (Mamang following close behind with hacksaw in hand ready to swing) the soldier is gone. Ferdie is now faced with the possibility that his mother is suffering from dementia — from hallucinations caused by degenerating functions of the brain, due to her age.
Right away you think of Michael Haneke’s Amour, but where Haneke’s stripped-down horror film — his, in my book, most unsettling and finest work to date — is a relentless descent into madness, Denise O’Hara takes a different approach: Mamang not only learns to deal with her “phantoms” but gives back as good as she gets. She realizes they are figures of her past (Except for that soldier — who is he? He never speaks, never explains himself). There’s her husband Heme (Alex Vincent Medina), handsome and amorous (he first appears to her naked and wanting sex while she is taking a shower); when she rejects him he takes to bringing young (presumably just as ghostly/imaginary) girls to the house. There’s the mysterious Amado (Gio Gahol) — from hints dropped here and there a Huk rebel who emerges from his hideout to serenade her. And there’s others — the point being that rather than random supernatural visitations, Mamang seems to be reliving her past, remembering old loves and quarrels, trying to take advantage of an apparent second chance to resolve a long, complicated life.
Interesting concept but god — or the devil — is in the details, and if anything O’Hara has equaled if not bettered her twin in overall execution. Not that the earlier film is necessarily weaker but that production felt hurried and awkward, the cinematography necessarily (and appropriately) plainspoken to better accommodate the powerful script. This debut has a sumptuous distinctive look thanks in large part to cinematographer Lee Meily (who supervised the camerawork in visually striking films like K’Na the Dreamweaver; Santa Santita (Magdalena); American Adobo; cut her teeth on the even smaller-scaled if still lovely Sana Pag-ibig Na). Her fluid camerawork is used to good effect — following, for example, as Mamang moves from one room to another, indicating passage from the normal to the paranormal world (or alternately, from objective reality to the intricate passages of her own mind); the subtly tinted lights accentuating the beauty of the old house, all rich narra flooring, high airy ceilings, bright capiz-shell windows.
I have to mention the earthquake that might or might not have occurred in Mamang’s imagination. O’Hara sells us the reality of what the elderly woman experiences (as opposed to just shaking the camera — a tired convention — or resorting to digital effects) through brilliant use of two simple details: a terrifying deep bass rumble and a violently shaking lamp and bedstand.
Speaking of accentuated beauty… it is difficult to dispute Ms. Legaspi’s; she was lovely back in the 1970s, is remarkably handsome still, especially when she fixes her hair in a wavy ‘do, tilts her head just so, and flashes that thousand-watt smile. She’s done some theater work, done some film work, has not really focused on either (she’s best known as a singer). One wonders why — possibly she was never inclined to the medium, or felt lightweight compared to the likes of Gina Alajar or Nora Aunor and didn’t feel the need to compete. Not necessarily that she’s incapable but she has a light touch, a gift not for heavy drama but for light comedy.
I’m guessing Denise O’Hara had seen her uncle Mario’s rare comedy film Tatlong Ina, Isang Anak starring both Nora and Celeste, and while the premise (three women trying to raise a foundling child) sounds funny enough, the film itself is (unsurprisingly) dark and noirish, with Nora playing straight arrow and Celeste playing eccentric. At one point she decides to commit suicide and Mario plays the scene out matter-of-factly, with Celeste making repeated attempts and the child with its endless needs frustrating her every time.
Presumably taking her cue from the scene in that particular film, Denise has Celeste’s character confronted with everything from the unusual to the supernatural to the grotesque-to-the-point-of-funny situations; the actress earns comic mileage by facing them (after being initially spooked) with the same deadpan pragmatism — if she ever cracked a smile or winked at us as if to say “Isn’t this hilarious?” the film would immediately deflate. She’s so good I submit (helps to have a director who perfectly understands her wayward appeal) that she manages to achieve a surprising poignancy. Mamang in the end cedes no territory to the claustrophobic pathos of Haneke’s masterpiece, but does so in its own sweet natured yet clear-eyed yet roundabout way, an achievement all its own. I am suitably impressed, and not a little enchanted.
The movie is showing in select Ayala cinemas.

Japan bond exodus fears overblown, regional banks say

GLOBAL BOND markets may have less to worry about from an all-out Japanese exodus. The yields on Japan’s benchmark bond are still too low to tempt regional lenders to switch investments back home, even after the central bank permitted a higher trading range, according to managers and traders at the companies.
Regional lenders want to see 0.5% on the 10-year bond before considering a pivot back from overseas markets, according to bankers who asked not to be identified in discussing strategies. Still, the Bank of Japan’s (BoJ) new guidance, tolerating a yield of as high as 0.2%, has spurred volatility and is boosting trading profits, they said.
The BoJ’s policy tweaks, made partly to ease the pain of its stimulus for local banks, have spurred speculation that Japanese funds could shift some of the $2.4 trillion invested in overseas debt back home. Regional banks account for about a fifth of foreign securities held by the whole banking sector, or the equivalent of $80 billion, according to data from the central bank.
“A slight yield steepening is welcome but it’s too marginal to hope for a dramatic change to banks’ profitability,” said Ayako Sera, a strategist at Sumitomo Mitsui Trust Bank Ltd. in Tokyo. “A steepening by a mere few basis point after the BoJ’s decision isn’t sufficient to ease the severe situation facing them.”
Years of BoJ monetary easing have squeezed lending margins at Japanese banks and lowered income from domestic securities, with Governor Haruhiko Kuroda acknowledging the pain on July 31 when he said the BoJ would allow a wider swing in bond yields.
Regional bank holdings of government debt fell in May to their lowest since March 2008 to 20.6 trillion yen, according to BoJ data.
YIELD SPIKE
Yields for the benchmark bond spiked to as high as 0.145% last Thursday before pulling back to the 0.11% level on Thursday at 2:20 p.m. in Tokyo. The 20-year was at 0.62%.
“In terms of helping banks make money, rising volatility is better than nothing, and as more players come and boost volatility, that will also help improve liquidity,” said Nana Otsuki, chief analyst at Monex Inc. in Tokyo. “Banks may see it easier to profit from trading when markets stabilize with a clearer vision of where yields are settling down.”
The comments by the regional bankers highlight the difference in strategies among Japanese investors and the complexities involved from any policy adjustments. While the regional lenders are more focused on shorter-duration bonds, investors are also paying attention to the trigger points for Japan’s life insurers.
Two of the nation’s largest insurers, Japan Post Insurance Co. and Nippon Life Insurance Co., said in April they will consider buying more Japanese government bonds once 30-year yields climb above 1%.
ILL AFFORD
Although regional lenders want yields to rise, they don’t want it to happen too quickly. Any significant increase would send bonds plummeting and boost unrealized losses on their holdings which they can ill afford to withstand.
According to an estimate by Japan’s Financial Service Agency, the group’s risk exposure to yen interest rates relative to capital is nearly triple that for major banks. If yields on both yen and foreign securities were to rise 50 basis points from levels as of the end of March, more than a quarter of the lenders would suffer valuation losses that exceed profits, it said.
Yields on the 10-year bond may not climb further, according to Morgan Stanley MUFG Securities Co. The benchmark will probably settle closer to 0.1% once market volatility settles down, partly because the BoJ owns so much of the five-to-10 year debt.
The central bank’s relentless buying of bonds has resulted in it owning about 65% of all outstanding five-to-10 year securities — the highest among all the maturity zones — squeezing supply of the notes in the market. — Bloomberg

Modern jeepney firm gets LTFRB franchise

NEW TRANSPORT company EcoDyip, Inc. has been awarded by Land Transportation Franchising and Regulatory Board (LTFRB) a franchise to operate modern jeepneys dubbed “DyipKo” in two routes in Metro Manila.
The company said in a statement it currently has 50 DyipKo Supro for its Eastwood to Capital Commons route, and another 50 DyipKo Transmover for its Lawton to Parañaque Integrated Terminal Exchange (PITX) route.
“With the support from the local government specifically DoTr (Department of Transportation), EcoDyip aims to serve more routes as they expect to complete their target of 1,000 DyipKo units in the next three years,” the company said in a statement.
EcoDyip Managing Director Dennise C. Trajano told reporters after the awarding event in Pasig City that the company is investing roughly P2.2 billion for the vehicles it is purchasing from Indian company Mahindra.
Mahindra also provided for the 100 DyipKo units already delivered for the Eastwood-Capital Commons and Lawton-PTIX routes.
The modern jeepney units are furnished with air conditioning and CCTV cameras, and uses a tap-to-pay system that reads the company’s own DyipKo card.
Mr. Trajano noted the 1,000 DyipKo units it targets to acquire will be deployed mostly in the National Capital Region, but in the end it will depend on the franchise from the LTFRB.
The company is looking to expand the coverage of its DyipKo units, starting with its application for a Taguig route.
The government is currently in the process of moving from the classic jeepney units to modern e-jeepneys. This project, called the public utility vehicle modernization program (PUVMP), requires jeepney drivers and operators to replace vehicles aged 15 years and above within a three-year period. — Denise A. Valdez

Pitt, Jolie spar over child support, house loan

LOS ANGELES — Brad Pitt on Wednesday rebutted claims that he had failed to support his children and accused his estranged wife Angelina Jolie of trying to manipulate the media in their long drawn-out divorce. In the latest round of bitter accusations between the Hollywood power couple once known as Brangelina, Pitt’s attorneys said the actor had paid over $1.3 million in bills for Jolie and their six children since their 2016 separation. In documents filed in Los Angeles Superior Court, the attorneys also said Pitt had loaned Jolie $8 million to help her buy a new home. Jolie’s attorney responded by saying that Pitt was charging Jolie interest on the loan for the new house and that the actress has had to shoulder most of the expenses for the children alone. Pitt’s attorneys said that Jolie’s claims were “a thinly-veiled effort to manipulate media coverage.” — Reuters

Your Weekend Guide (August 10, 2018)

The Vagina Monologues

NEW VOICE Company presents Eve Ensler’s The Vagina Monologues on Aug. 11, 8 p.m. (English) and Aug. 12, 3 p.m. (Filipino), at the Carlos P. Romulo Auditorium, RCBC Plaza, Makati City. The show stars Monique Wilson, Missy Maramara, and Mae Paner. Directed by Thea Tadiar, the monologues focus on themes such as body issues, love, sex, menstruation, childbirth, and rape. For tickets and schedules, visit TicketWorld (www.ticketworld.com.ph, 891-9999).

MaArte Fair 2018

ORGANIZED by the Museum Foundation of the Philippines, Inc. (MFPI), the 10th edition of the MaArte fair highlights men with a Pinoy Man Cave at The Peninsula Manila in Makati. The fair will be held on Aug. 10 to 12, 10 a.m. to 8 p.m. Among the exhibitors are Len Cabili’s Filip+Inna, Jojie Lloren for La Herminia Piña, and Tim Tam Ong. Admission is free.

PHL Readers Writers Festival

READERS and writers will reunite once again for talks, autograph signings, and workshops, and spend an afternoon with best-selling authors Erin Entrada Kelly, and Adi Alsaid at the Philippine Readers and Writers Festival 2018 on Aug. 10 to 12 at Raffles Makati. For more information and schedules, visit www.readersandwritersfestival.com.

History Con 2018

MANILA’S biggest entertainment convention, History Con 2018 will be held on Aug. 10 to 12 at the World Trade Center Manila in Pasay City. There will be meet and greet sessions with international celebrities, exhibits, lectures, and special activities. For tickets and schedules, visit https://smtickets.com/.

Eto Na! Musikal nAPO!

9 WORKS THEATRICAL presents Eto Na! Musikal nAPO!, a musical comedy featuring the music of the Apo Hiking Society. There are performances until Aug. 21 at the Maybank Performing Arts Theater, BGC Arts Center, Taguig. For tickets and schedules, visit TicketWorld (www.ticketworld.com.ph, 891-9999).

Cinemalaya 14: Wings of Vision

THE 14th Cinemalaya Philippine Independent Film Festival is ongoing until Aug. 12 at venues in the Cultural Center of the Philippines and selected Ayala malls. For details visit www.cinemalaya.org, www.culturalcenter.gov.ph, or TicketWorld (www.ticketworld.com.ph, 891-9999). Tickets for Cinemalaya films at Greenbelt, Trinoma, UP Town Center are not available at TicketWorld.

Ang Huling El Bimbo

FULL HOUSE Theater Company presents Ang Huling El Bimbo, a musical featuring the songs of the Eraserheads. Performances are ongoing until Aug. 26 at the Newport Performing Arts Theater, Resorts World Manila, Pasay City. For tickets and schedules, visit TicketWorld (www.ticketworld.com.ph, 891-9999).

Rak of Aegis

PETA brings Rak of Aegis back for a 6th run until Sept. 2. The musical, featuring the music of the jukebox band Aegis, tells the tale of a perpetually flooded barangay and how its inhabitants adapt. The PETA Theater Center is at No. 5 Eymard Dr., New Manila, Quezon City. For tickets and schedules, visit TicketWorld (www.ticketworld.com.ph, 891-9999).

Chilean band brings jazzy touch to classic game soundtracks


SANTIAGO, Chile — A Chilean band is bringing smooth saxophone melodies and spine-tingling bass lines to classic video game soundtracks in its quest to attract more youngsters to jazz.
The four friends in their twenties who make up the group Jazztick started out playing on the streets of Santiago, hoping to popularize the genre in Chilean culture.
Now full-time musicians, the question they’re most often asked is what does America’s original art form have to do with the geeky world of gaming?
“The worlds of jazz and video games aren’t so far apart,” explains pianist Max Gonzalez, who counts US greats Bill Evans and Chick Corea among his heroes.
“They are both tools that allow for a lot of improvisation. And on the piano, the notes and the melody belong to me, I am master of my character and my actions.”
The sounds of the sax, electric bass, drums and piano mingle with the pings and crashes of 1980s classics such as Super Mario Bros, The Legend of Zelda, Sonic the Hedgehog as well as some more recent hits like Metal Gear Solid.
It is a musical journey through time in which listeners finds themselves immersed in a melange of jazz-fusion peppered with funk and Latin influences.
“Video games are huge in Chile, and we grew up on these sounds. Through our music, we take our audience back to their childhood,” says Jazztick’s bassist Sebastian Vera, who founded the band in 2014.
“With this mix, we attract adults to music from video games and we bring young people towards jazz music.”
“Some passers-by stopped because they liked the sound of our swing. But most got into our sound because they recognized the melodies of famous games,” says drummer Victor Becerra, all of 20 years old.
The band is among a growing number of groups from around the world specializing in interpreting the soundtracks of successful game sagas.
Originally added to immerse gamers in the story and help them focus, classic gaming soundtracks have been re-invented with covers ranging from symphonic orchestras to heavy metal to electronic remixes with thumping beats. — AFP

Five barriers that complicate labor productivity

Despite overtime work, many of our workers miss their production quotas and deadlines to the absolute disappointment of management and our clients. What’s wrong with us? And how would you propose to solve our problem? — Don’t Know.
A priest received a donation of a male parrot with an acquired vocabulary of bad words from a dying owner who gave it to the parish church known to adopt orphaned animals. The result was embarrassing for the parishioners, until a spinster suggested that she take care of the bad-mouthed parrot by making it live with her well-behaved female parrot at home.
The old woman’s female parrot said nothing every hour except “let us pray” followed by The Lord’s Prayer. As soon as the two birds were put together, the cursing parrot took one look at the lady parrot and chirped:
“Hi, baby! How about a little kiss?” The female parrot responded gleefully: “Thank you Lord! My prayers have been answered!”
Sometimes, it takes “a little kiss” and a change of environment to make everything more positive. Of course, don’t forget to say a little prayer before doing anything. More often than not, managers busy themselves with meeting production quotas and deadlines and they forget to have a little celebration to change the mood of the overworked employees.
If not done, this results in complicated situations with the organization spending unnecessarily to pay the overtime premium even when workers do little to meet quotas and deadlines.
Coping with this type of pressure is not easy, but not necessarily hopeless. Achieving labor productivity can be simpled if you take the necessary steps to avoid the most common pitfalls, many of which are invisible to the naked eye. These include the following:
One, when the workers are not empowered to solve problems. The word “empowerment” has been around for some time, and yet many people managers don’t want to do it for fear of losing control. But that’s false thinking. Problem-solving and decision-making are not a monopoly of management. They should be delegated to the workers who are nearer to the issues. Otherwise, managers would have nothing to do except to fight fires.
Two, when the workers are not equipped with problem-solving tools. Empowering the workers requires that you provide them with proper training and the tools to identify and solve operational bottlenecks that are causing backlogs. There are many types of tools that the workers must be familiar with, such as fishbone diagrams, histograms, and the five whys, among others. These tools are easy to use and practical for solving production issues.
Three, when the workers are not informed of the real situation. Everyone must bring factual data. Clearly-defined timelines are not enough. They must be explained fully alongside with the regular sharing of information on percentage of defects, turnover rate, overtime costs, absenteeism and other related expenses. Correlate these with job security and the workers will be able to appreciate the value of those data.
Four, when the workers are forced to hit unrealistic targets. At times, this is acceptable, but not if it’s done on a regular basis. It’s also a reflection of poor planning. That’s why every manager must be on top of the situation to anticipate problems. Seeking daily feedback from the workers will allow you to do just that. This means that management must do daily “gemba” (shop floor walking) to see for themselves the real situation.
Last, when managers appear strict and unfriendly. Even if it’s unintentional, some managers are accustomed to showing negative body language. The solution, of course, is to stay positive, energetic, and full of confidence. It’s also important for all managers to acknowledge their mistakes promptly and be explicit about it by correcting their errors, including how they treat the workers. This can-do attitude will enhance their credibility.
Don’t let these issues overwhelm your management team. As long as you’re doing your best in a smart manner and ready to change for the better, then everything would be all right.
Making better use of the workers’ ideas can go a long way. In essence, this is co-ownership. If the workers know their ideas are welcome, they will respond completely. If they’re being appreciated by management, chances are, they will reciprocate positively. Of even greater importance is your management team’s ability to create a fun and enjoyable workplace that allows people to exchange “little kisses” with one another.
Don’t take this literally. This means creating excuses to celebrate small wins so people are energized to come up with small wins that contribute to big milestones.
ELBONOMICS: Managers must do the hard part, so the workers can do the easy part.
 
Send feedback or questions to elbonomics@gmail.com or via https://reyelbo.consulting

Greening money

THE business of making money ‘green’ is beginning to flourish. One just needs to look at recent numbers to see the growing business opportunity.
In the private sector alone, an estimated $600 million in investments is needed to achieve Philippine energy efficiency targets for 2020 and $34 billion to meet the country’s renewable energy installation targets for 2030, according to the Department of Energy. In construction, the International Finance Corporation (IFC) estimated that $2 billion worth of investments are needed to set up green commercial buildings and $12 billion for residential developments. And then there’s the rich array of sustainable energy projects to support, including low-carbon energy such as smart grids, e-vehicles and hybrid transport, green chemicals and manufacturing products, wastewater treatment, and recycling and waste treatment services.
With such gargantuan green projects, it’s no wonder banks and financial institutions are jumping into the bandwagon to make green loans much more accessible to a wider range of entities, including small and medium enterprises.
Traditionally, investors look at financial metrics of companies alone. Nowadays, they are also taking into consideration a company’s environmental, social and governance (ESG) issues, not just financial returns. Any form of financial service that integrates ESG into investment or business decisions is termed “sustainable finance.”
At the Green Financing Forum organized by the Financial Executives Institute of the Philippines (FINEX) on June 20, 2018, sustainable finance champions hogged the limelight. Herry Cho, ING Bank’s head of sustainable finance in Asia Pacific, cited in her presentation that a sustainable strategy is no longer just “nice to have,” but now a need that demands urgent, concerted, and global-scale efforts to address climate change. Green bonds, which gained traction in 2016 in emerging markets, especially offer a glowing promise. While still proportionately small, the market for green bonds is growing fast and continues to diversify, said Ms. Cho.
At the forum, Securities and Exchange Commission Commissioner Ephyro Luis Amatong encouraged more local issuers to tap into the $36-trillion market, with investors in Asia, Europe, and North America now mandating green bonds.
The International Finance Corp., the private sector arm of the World Bank, recently issued the first internationally rated AAA peso-denominated green bonds equivalent to about $90 million. This was meant to finance the capital expenditure of Energy Development Corp. in a bid to improve the generation output of the country’s largest geothermal energy producer.
Green securitization is yet another high-impact tool, bundling green loans into securities to open the doors of institutional investors to small-scale green projects otherwise too small to access such capital.
The commitment to green financing, however, doesn’t end in bonds, credit lines, and securitization. Firms providing advisory services, technical assistance and transfer knowledge in climate business and industry-specific green investment principles could also benefit from the growing trend in sustainable finance.
By 2030, green financing is seen to emerge as a $44.5-trillion pie, with one-third of banks forecasted to be lending for climate change measures. In championing green and therefore responsible finance, banks and financial institutions assert their frontline position in helping the world become environmentally, socially, and financially resilient.
For humankind to survive what scientists warned as the Earth’s sixth mass extinction, everyone must think green and put their green money where their mouth is.
 
Ma. Victoria C. Españo is the President of the Financial Executives’ Institute of the Philippines (FINEX) and the Chairperson and CEO of Punongbayan & Araullo Grant Thornton, one of the leading Audit, Tax Advisory and Outsourcing firms in the Philippines.
marivic.espano@ph.gt.com

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