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Possibilities amid disruptions

With a history that dates back 167 years, the Bank of the Philippine Islands (BPI) has been true a game-changer in the country’s banking and finance industry.
As the first bank in the Philippines and the entire Southeast Asia, the bank keeps abreast of various disruptions in order to deliver relevant banking services to Filipinos. While various disruptions — especially in the digital realm — may be a threat to some, the 167-year-old bank perceives them as exciting possibilities for the industry.
“At BPI, we keep an eye on developing trends and nascent technologies that may be disruptive. Disruptions, however, are also emerging opportunities for us. They provide us with exciting prospects to provide better customer service, innovate our processes, or come up with new products or services,” said Mon Jocson, BPI Head of Enterprise Services Segment.
BPI is known as a leading figure in the digitalization of the country’s banking industry. As a testament to this, the bank was the first to introduce the through-the-wall 24/7 automated teller machine (ATM) and the Express Payment System or EPS.
Moreover, BPI was also the first to have the local interactive voice response system for financial services, mobile banking, and online branch appointment system, among others.

“If we look at our clients now, many of them are digitally savvy. They embrace technology because of the convenience, safety and reliability it offers them. The proliferation of smartphones alone has created a demand for us to create an app that would allow them to make transactions anytime and anywhere,” said Jocson.
Further stepping up its game as it positions itself at the forefront of digitalization in the local banking industry, the bank has soft-launched a new online portal and mobile app to offer a better customer experience for its clients.
“As we see it, transactions done digitally will overtake those done with cash in the coming years. At the moment we are a cash-heavy country with only about one to two percent non-cash transactions. But we are moving toward a ‘cash-lite’ economy,” Jocson said.
“Through our digitalization efforts, expansion of our branch network, strengthening of our SME and retail business, and focus on financial inclusion through our microfinance arm, BanKo, we hope to shape a whole new experience for all our customers and offer them a better, safer and more convenient way to bank with us.”
Although disruptions have changed and continue to transform the landscape of banking and finance industry in the country, one thing remains true for BPI.
“Our BPI Credo says our first responsibility is to our clients. Despite changing times, this has always been true for us. This has led us to value innovation in technology and processes so we can serve our clients well. Building lasting and meaningful relationships is very important,” said Jocson.
“We want to offer convenience and efficiency through the use of technology, and more meaningful and higher value interactions with clients in our branches. Customer service, excellence and integrity continue to define BPI.”

S&P cautions on tax reform uncertainty

By Melissa Luz T. Lopez
Senior Reporter
PROLONGED UNCERTAINTY over tax reform could weigh on investor appetite towards the Philippines, S&P Global Ratings said on Thursday in the wake of reports that lawmakers could be hesitant to approve measures involved as the May 2019 midterm elections draw closer.
Andrew Wood, director for S&P’s sovereign and international public finance ratings, said approval of the second tax reform package will have a greater impact on the business climate than the country’s fiscal outlook.
“With regard to investor sentiment, it becomes more of a timing issue. For the time being, we have heard anecdotally that investors are taking a wait-and-see approach to the Philippines because they want to see how this package is negotiated and how it turns out,” Mr. Wood said in a webcast yesterday.
“What we may see is if this package is drawn out a bit more in negotiations for a significantly longer time than expected, that could weigh on investor sentiment towards the Philippines over the remainder of this year until it is settled in the future.”
The second package seeks to cut corporate income tax rates gradually to as low as 20% from 30% currently in order to put them at par with levels among the Philippines’ close Asian competitors for investments, as well as remove tax incentives given by 14 investment promotion agencies that are deemed redundant and which the Finance department estimates had cost the government some P300 billion in 2015.
This comes on the heels of the first package of the Tax Reform for Acceleration and Inclusion that reduced personal tax rates but added or imposed new taxes on several items like fuel, cars, sugar-sweetened drinks and cosmetic surgery, among others.
President Rodrigo R. Duterte on Monday egged lawmakers on to approve all the remaining tax reform measures this year in order to beat the election fever.
However, Senate leaders have remained lukewarm to the second package now pending in Congress, saying no one was willing to sponsor the measure. The Finance department hopes to submit the remaining two to three more packages by the end of this month.
Pending approval of the reform, Mr. Wood said planned investments in the Philippines may be left hanging as investors await concrete progress.
The International Monetary Fund has also backed the measure, saying that the Philippines does not need to resort to tax holidays just to attract private investments.
S&P in April revised its credit outlook for the Philippines to “positive” from “stable,” hinting at stronger chances of bagging a rating upgrade from the current “BBB” level, which is a notch above the minimum investment grade status.
The debt watcher has said the “positive” tag takes stock of the “more proactive” policy environment in the Philippines, which Mr. Wood said increases the chances that strong growth will continue without eroding state finances.
S&P remains upbeat about Philippine growth prospects over the medium term. The credit rater projects another 6.7% growth this year to match 2017’s pace, among the fastest in Asia although short of the government’s 7-8% target.
“There’s a lot to like about this economy,” Mr. Wood said, citing strong consumer spending, increased manufacturing and exports, as well as a robust infrastructure drive.
“In terms of expenditures, we do expect the government to continue to spend more on infrastructure projects domestically. This will feed into stronger investments growth, and in the future we expect that to also support productivity growth in the economy.”
Kim Eng Tan, senior director at S&P, said the trade war between the United States and China is unlikely to derail economic growth for now.

Bank reserve requirement steady for now — BSP

THE BANGKO SENTRAL ng Pilipinas (BSP) will not introduce further cuts in required bank reserves this year, its chief said, and may pause until inflation eases back on target in 2019.
BSP Governor Nestor A. Espenilla, Jr. said two cuts in the reserve requirement ratio (RRR) introduced earlier this year should be enough for now, as the central bank takes stock of rising inflation and related developments in financial markets.
“We have already achieved significant progress this year,” Mr. Espenilla told financial analysts on Wednesday afternoon.
The BSP chief met on Wednesday with bank economists and other market watchers to “promote better understanding” of the central bank’s mandate. This comes as some analysts have flagged confusing signals from the central bank, particularly on the timing of interest rate adjustments.
Since June, universal and commercial banks have been required to keep 18% of deposits as reserves from 20% previously.
The two RRR cuts of one percentage point each have freed up about P200 billion for increased lending and bank investments, although the BSP said these have been siphoned by its weekly term deposit auctions.
Some economists argued that the RRR cuts in March and June ran counter to back-to-back 25 basis points (bp) interest rate increases from the Monetary Board, as the former injected liquidity to the system while the hikes pushed up yields.
“This initiative can resume next year just as inflation returns to target based on our forecast. The goal of achieving single digit RRR by the end of my term is therefore quite attainable without sacrificing effective monetary control,” Mr. Espenilla told reporters via WhatsApp message when pressed further.
Inflation has trended above the 2-4% target in recent months and peaked at 5.2% in June. Prices increased by an average of 4.3% last semester, versus a 4.5% full-year projection.
Mr. Espenilla added that the 200bp cut in required bank reserves has done its part in sending a “credible and concrete signal” to the market.
In its latest assessment on the Philippines, the International Monetary Fund (IMF) suggested for the central bank to halt further RRR cuts “until inflation is clearly on a downward path and inflationary expectations are better anchored.”
IMF mission chief Luis E. Breuer backed further tightening moves from the BSP to rein in inflation. Mr. Espenilla said the central bank is considering a “strong follow-through” policy adjustment in its Aug. 9 meeting.
Still, the BSP chief reaffirmed his commitment to a gradual reduction in deposit reserves. “This will lower friction costs in the banking sector, create more efficient financial intermediation, and help curb shadow banking given the rise of strong alternatives offered by fintech and digital innovation,” Mr. Espenilla said, noting that future cuts will be timed “deliberately.”
“Excess liquidity is reabsorbed through our open market operations and significant FX operations. The upward trend in market rates validates tighter market conditions.”
Average yields on term deposits offered by the central bank have been hovering close to four percent, or the ceiling of the 3-4% range for benchmark interest rates. — Melissa Luz T. Lopez

Economic managers nix lower deficit ratio

STATE economic managers have bucked the International Monetary Fund’s (IMF) recommendation for the government to reduce its budget deficit ceiling, citing the need to speed up implementation of major infrastructure projects.
A joint statement released on Thursday by the government’s Investor Relation’s Office quoted Finance Secretary Carlos G. Dominguez III as saying that the proposal to cut the fiscal deficit to 2.4% of gross domestic product (GDP) in 2018 and 2019 amid inflationary concerns was “tough advice.”
“Given deliberate improvements in our process, projects are in full steam to realize benefits envisioned in a timely manner,” Mr. Dominguez said.
“We do acknowledge that adjustments may be necessary to adequately respond to the changing macroeconomic landscape both internal and external,” he added.
Yet he said that the recommendation “will be discussed in the DBCC (Development Budget Coordination Committee) since this requires the collective efforts of its members.”
To recall, the DBCC in its 173rd meeting on July 2 capped the government’s fiscal deficit ceiling at three percent of GDP this year, and raised it to 3.2% for 2019 from three percent in 2016 and 2017, in a bid to accelerated sending on its P8-trillion “Build Build Build” infrastructure program.
The deficit cap is programmed to return to the three percent level next year, until 2022, as the momentum of faster public infrastructure spending steadies, the economic managers said.
The IMF’s 2.4% recommended ratio of fiscal deficit to GDP is steady with the actual 2.4% deficit logged in 2017.
Inflation averaged 4.3% in last semester after June’s 5.2%, above the central bank’s 2-4% target. The central bank forecasts inflation to finish at 4.5% this year, and return to target next year.
The IMF expects the Philippines GDP growth to clock in at 6.7% in 2018 and 2019, steady from 2017. It also expects inflation at 4.7% this year.
Bangko Sentral ng Pilipinas Governor Nestor A. Espenilla, Jr. meanwhile reiterated the central bank’s commitment to combat inflation after hiking policy interest rates by 25 basis points each in its May and June meetings. He has signalled that “strong” policy adjustments are in store when the Monetary Board meets to review policy anew on Aug. 9, hours after the second-quarter GDP report and two days after the July inflation report.
“The BSP is firm in its commitment to price and financial stability. Elevated inflation this year was mainly on account of supply-side factors. However, to address potential second-round effects, the BSP saw it proper to hike policy rates last May and June. We are also prepared to take a strong follow-through action to anchor inflation expectations and address any brewing demand-side pressures,” said Mr. Espenilla.
The Executive has also asked Congress to impose a regular tariff scheme on imported rice that is estimated to slash retail prices of the grain by about P7 per kilogram.
“There will be no letup in the government’s policy of aggressive spending on infrastructure and human capital development while maintaining fiscal prudence, in step with President Rodrigo Duterte’s vision of reducing poverty incidence to 14% and transforming the economy into an upper middle-income one by 2022,” said Mr. Dominguez.
Budget Secretary Benjamin E. Diokno for his part, said: “We will subject the IMF Staff proposal to a thorough review. Reducing the budget deficit program to 2.4% of GDP is feasible. However, the implication of abandoning some of our big-ticket infrastructure projects is something we are not comfortable with.”
“We are already gaining significant progress in our aim to accelerate infrastructure development to boost the country’s competitiveness and improve the quality of life of Filipinos. We do not intend to slide back,” he added.
Mr. Diokno assured that the administration’s fiscal policy will “continue to be prudent, sustainable, and supportive of our investments in public infrastructure and human capital development.”
Socioeconomic Planning Secretary Ernesto M. Pernia meanwhile said: “We are determined to stay the course on tax reform.”
“We are also carefully monitoring our widening trade deficit that’s largely caused by substantial capital goods imports that should enhance growth potential, thereby sustaining poverty-reducing economic development,” he added. “Further, we are vigorously implementing our Export Development Plan.” — Elijah Joseph C. Tubayan

Keeping track of Philippine game changers

OVER the last three decades, BusinessWorld has served up reports on and analyses of corporate, financial and economic developments that have shaped Philippine business and society.
This year, it carries out its mission to remain a most trusted chronicler in the digital age through its 31st Anniversary Report, entitled “The Changing Game,” with narratives on how developments in the digital space have changed the landscape in various sectors.
How does innovation level the playing field in sectors traditionally monopolized by the Big Boys?
“The Changing Game” seeks to answer this question through reports, infographics and crowd-sourced questions from readers of BusinessWorld’s millennial-oriented platform, SparkUp.
Spread across today’s issue from sections four to 12, “The Changing Game” contributes to BusinessWorld’s continuing efforts to keep tabs on what has been shaping the evolving Philippine business landscape.
 
To know more, visit www.bworldonline.com/thechanginggame

Family legacies

Text and photos by Michelle Anne P. Soliman, Reporter
An agriculturist who never got to travel outside the country built the first Art Deco building in the country in 1936; a kapitan del barrio’s widow strategically equipped her home so she could see everyone’s movements; and a frequent traveler erected a mansion for his unmarried children and in memory of his deceased wife. The legacy of Negros Occidental’s sugar barons lives on in the stories of their homes.
During a recent trip to Bacolod to mark the opening of a Seda hotel, the brand’s seventh in the country, members of the media took a tour which brought them to three homes of prominent Negrense families as an example of what the city has to offer visitors.

The Boat House on Burgos Street

Negrense sugar baron Don Generoso M. Villanueva had the Art Deco-style Daku Balay (big house) on Burgos Street built in 1936 for his family. Designed by architect Salvador Cinco from Cebu, all the materials used in its construction came from Bacolod but the skilled workers needed to build it came from all over the country — the carpenters were from Nueva Ecija, the metal workers from Negros, and the hand-marbling was done by workers from Sorsogon and Romblon.
It was the tallest building in the city until 1959.
One of Don Generoso’s granddaughters, Maria Lilia V. Villanueva, now uses it as an office.
Ms. Villanueva described her grandfather as a “visionary.” Despite not being able to travel abroad, Don Villanueva got inspiration from his travels in Manila and wanted to “make Burgos Street the modern boulevard of Bacolod.”
Because of the nautical feel of the house’s design elements — the elliptical balcony with hand-marbled details of half-moons on the floor, water-themed bathrooms, and rows of portholes in several rooms — Don Villanueva’s home is popularly known as the Boat House.
Other features of the house include wall carvings depicting a farm which represented Don Generoso’s 30-hectare orchard plantation, an open deck for parties with orchestra pit, and an elevator.
Guests to the house are greeted by the sculpture of a dog at the entrance. Ms. Villanueva noted that her grandfather loved to take care of animals and channeled that love through various animal references found all over the house such as the animal figures in the hand-marbled flooring.
During the Second World War, General Takeshi Kono, the Japanese commanding officer in charge of Western Visayas, occupied the house. The hand-marbled floors of peach, white, and green; other floors made with seven types of Philippine hardwood; and cloud-like details in the house were said to have appealed to the Japanese general.
“I was told that his strict instructions were not to destroy the house, that’s why the house was returned to the family intact [after the war],” Ms. Villanueva said, adding that the general had conversations with Don Villanueva.
When Ms. Villanueva returned to Bacolod in 2012 after 35 years of living in the United States, she vowed to clean the house and set up her office in her favorite room — the billiard room at the third floor.
As the president and COO of Marosvill Development Corp., Ms. Villanueva established BelleArte residential condominiums, a 67-unit Art Deco-inspired project located at the back of the original house, — the condominum’s design is a homage to her late grandfather’s house. BelleArte is part of her plans to establish the area as an Art Deco district, as well as, make the daku balay a landmark destination in Bacolod.
It was always just a matter of when to come back, she said. “I was always sensitive about losing my identity. I think it has a lot to do with an experience like this, belonging to a family who had a very strong sense of who they were. My grandfather was Pinoy na Pinoy (a true Filipino), very Pinoy, very Bacolodnon. And then he built something like this. It’s part of me. There are people with vision, and it doesn’t matter where they come from,” Ms. Villanueva said.
“I think this is the largest Streamline Art Deco structure in the Philippines left,” said Ms. Villanueva, who hopes to carry forward the house’s legacy. “It (the house) has to be shared.”
Sayang (What a pity) if other generations will not want to be part of it. For me, that’s what I tell my nieces and nephews. Everybody’s experience is different but I think that the most valuable thing that one can always carry wherever they are is your identity. When you say identity, for me, it’s daku balay,” she said.

Balay ni Tana Dicang

The “house of stone” — a mansion set on a 6,000-square meter property along Rizal Street in Talisay, Negros Occidental — was built in 1883 for Efigenio Lizares who was the kapitan del barrio (then the equivalent to a city mayor), and his wife Enrica Alunan.
The mansion of 18 rooms — with interiors of Filipino hardwood and painted with hints of blue — was where they raised their family of 17 children (10 girls and seven boys) and an adopted nephew.
When Mr. Lizares died of pneumonia in his 50s, his wife, popularly known as Tana (short for kapitana) Dicang, took his place as head of the family and took charge of the operations of the family’s sugar production.
The first floor of the house still has the original Machuca tile flooring, the room that housed the old convenience store, and the parking area for carriages and, later, cars. The steps to the grand staircase were built in consideration of the old tradition of oro, plata, mata (gold, silver, death) that says one must have the right number of steps on any staircase, and they should never end in mata. While most people would make sure their last step would be oro, in this house it ends in plata as Tana Dicang believed that it would not be difficult for her to help her family with finances.
The mansion’s staircase railings have rose vine designs as Tana Dicang believed that way visitors climbing the stairs would leave their bad luck behind before officially being welcomed to the house. The guests then had to wait at the receiving area where they were served either rich chocolate eh meaning they were welcome, or the watery chocolate ah which indicated they were not.
The mansion’s second floor has large intricately carved wooden windows for ventilation and which also let in the helped the music of the orchestra that played on Sundays surrounding the home.
Tana Dicang also had her version of surveillance cameras — peepholes set up around the house which allowed her to monitor her visitor’s actions and the activities of her workers.
A modern day visitor to the mansion can admire the old photographs and a sculpture of Mr. Lizares by National Artist of the Philippines for Sculpture Guillermo Tolentino in the living room, and enter the room used by President Manuel Quezon which still holds the original bed he slept on.
Tana Dicang died of old age in 1942. She left a will indicating that the revenue earned from her hacienda would go to the restoration and maintenance of the house.
The house still stands as one of the province’s best preserved ancestral homes and now serves as a lifestyle museum.
The Balay ni Tana Dicang Museum is everyday from 10 a.m. to 5 p.m.

The Ruins

The last stop on the tour was not a house, but the remains of one.
As an avid traveler who frequented Hong Kong, sugar baron Mariano Ledesma Lacson met Maria Braga, a Macanese (Portuguese-Chinese) woman during one of his visits. Mariano successfully courted Maria and brought her to Talisay where they were blessed with 10 children.
“When she was pregnant with her 11th child, she slipped in the bathroom and began to bleed. Immediately, my great grandfather sent his horse-drawn carriage to Silay (then the center of trade and commerce) to call the doctor. But it took days before the doctor came. And by the time he arrived, Maria and her baby were already gone,” said Raymond Javellana, Mariano and Maria’s great grandson and head operator of The Ruins.
His great grandfather then fell into a deep depression. “The one day, he said, ‘I’m going to build a house for my unmarried children,’” Mr. Javellana said.
To achieve his goal, Mariano traveled back to Hong Kong to meet with his father-in-law, a Portuguese ship captain, to ask for his help.
“And the house became a mansion,” Mr. Javellana said.
Built in the 1920s within a 440-hectare sugarcane plantation, the mansion had a floor area of 903 square meters.
But the house did not last for very long.
Early in 1942, the Americans instructed the local guerillas to burn all structures that could possibly be used by the Japanese — and these included Mariano’s mansion which at that time had only two occupants.
The story goes that it took three days for the well-built mansion to burn down to an empty cement shell.
“We were lucky that this house was never used by the Japanese. They (guerillas) simply burned it. What you see today are the remains of the skeletal frame of the mansion,” said Mr. Javellana.
He speculated that the mansion’s floor plan was based on that of a house in Portugal. “Since there was no architect, we believe that the plans of his (the father-in-law) own house in Portugal, he must have probably given to his son-in-law.”
The Italianate design and details of the remains of the house help support Mr. Javellana’s claim, including the cornices, Romanesque columns, details of shells carved on the roof, the belvedere with a 180-degree view of the area, and the location of the mansion facing west to the coastal waters.
A unique feature of the mansion which survived the conflagration are the molded initials of Mariano and Maria — two M’s facing each other — which are carved into all posts around the mansion.
After world War II, The Ruins were abandoned until Mr. Javellana arrived in 2005. His branch of the family — the children of Don Mariano Ledesma Lacson and Cora Maria Osorio Rosa-Braga — acquired the 3.6 hectares where the burned mansion stands by lottery.
“With my exposure to tourism in Manila, it gave me the idea to convert it into a tourist attraction,” Mr. Javellana said.
The family has kept The Ruins — which still stand in the middle of a working farm — intact as a tourist attraction that can be visited for a fee or hired for events. It is open to daily from 8 a.m. to 8 p.m. There is an entrance fee of P100 for adults, P50 for students, and P20 for children.

Marvel, Netflix, Disney will show sneak peeks at AsiaPOP Comicon


FOR IT’S third year, AsiaPOP Comicon Manila (APCC) 2018 is bringing three content showcases from Marvel, Netflix, and Disney, promising exclusive sneak peeks of future projects alongside the presence of some of the shows’ biggest stars at the SMX Convention Center in Pasay City from July 27 to 29.
“Undoubtedly APCC Manila 2018 is turning out to be the biggest of all APCC editions so far as we have raised the bar with a great mix of talent from different fields and Asia’s first ever combined exclusive content showcase from Marvel, Disney, and Netflix,” Abdulla Mahmood, director for marketing and international business development, Al Ahli Holding Group, said in a press release.
Among the stars gracing this year’s pop culture convention are Finn Jones (who plays the titular character in Marvel’s Iron Fist series produced by Netflix, and played Loras Tyrell in HBO’s Game of Thrones), Mike Colter (who plays the title character in Netflix-produced Marvel’s Luke Cage), Tye Sheridan (who played Cyclops in the 2016 X-Men: Apocalypse and Wade Watts in 2018’s Ready Player One), and Osric Chau (who plays Kevin Tran in CW’s Supernatural).
Mr. Chau revealed that he is also shooting his self-produced film, Empty by Design, in the Philippines. The film will revolve around people who try to “reconnect with their roots, culture, and find the feeling of home they didn’t find anywhere else in the world,” he said during a press conference on July 25 at the Conrad Hotel in Pasay City.
Hall M, Marvel’s showcase, will see Marvel VP for Creative Development Stephen Wacker deliver world-exclusive previews of upcoming titles. Hall N, Netflix’s showcase, meanwhile, will feature the realistic sets of Netflix shows such as Stranger Things and Riverdale.
Netflix will also be hosting a special Marvel panel with Mr. Colter, Luke Cage series creator Cheo Hadari Coker, and Mustafa Shakir who plays Bushmaster. Another panel is dedicated to teasing the second season of Iron Fist and will feature Mr. Jones and series creator M. Raven Metzer.
Disney’s Hall D, the first in the world, is said to feature exclusive looks into upcoming features.
For APCC’s Artist Alley, expect the presence of Brian Muir, a 48-year veteran sculptor who is known for creating the Darth Vader helmet and armor in the Star Wars series; Lan Medina, who has worked in Vertigo/DC Comics’ Fables which won 14 Will Eisner Comic Industry Awards (the industry’s Academy Awards equivalent); and Whilce Portacio who has worked in X-Men and X-Factor.
Also in this year’s lineup of artists are Alex Sinclair, Mike McKone, Phil Noto, Amanda Visell, and Michelle Valigura.
For the cosplayers, APCC Manila will be attended by Canvas Cosplay, Leon Chiro, Vera Chimera, and Yugana Senshi Uon while anime fans will see Adi Shankar and Takashi Yoshizawa, producers of Castlevania and Godzilla: Planet of the Monsters, respectively.
Tickets for APCC Manila 2018 are available at the SM Tickets website (www.smtickets.com) and all SM Ticket outlets. Ticket prices are P650 (one-day pass), P950 (two-day pass), and P1,150 (three-day pass).
For more information, visit asiapopcomicon.com/manila and its corresponding social media pages. — Zsarlene B. Chua

Director ready for backlash vs Norse mythology show


DOMINIC ZAPATA, with his two decades-long career directing film and television, is no stranger to large-scale productions with the most recent being GMA’s Alyas Robinhood (seasons 1 and 2) and Mulawin vs. Ravena in 2017, but his newest foray into fantasy series — Victor Magtanggol — is proving to be his biggest work to date.
“I hadn’t utilized motion capture as much as I have here definitely not for television yet — this is the first time,” Mr. Zapata told reporters shortly before the show’s launch on July 23 in GMA Network Center, Quezon City.
“The magnitude of the work goes beyond production. It also includes the kind of bashing we had to confront because of what we decided to pull off,” he added.
Victor Magtanggol, which airs starting July 30 on GMA’s Primetime block, takes inspiration from Norse myths and legends and follows the titular character (played by Alden Richards) as he tries to save the world from the encroaching evil caused by Loki (played by John Estrada) while maintaining his alter-ego, a carpenter who is looking for his mother in Japan.
Loki is the brother of the god of thunder Thor, who perished in the events of Ragnarok — a cataclysmic battle which ended the earth and killed many of the major Norse gods. Loki aims to get his hands on Thor’s hammer, Mjolnir, to create monstrous offsprings to spread evil in the world.
The show was first announced earlier this month and almost immediately, people compared the show to Marvel’s Thor because both shows use Norse mythology as their basis.
Mr. Zapata clarified that while both shows use the same myths and legends, Victor Magtanggol is set after the events of Ragnarok while the Thor film series never goes beyond the event.
He expected the negative reactions and comparisons the moment he read the script, but he loved it so much that he went with it.
“The challenge is the beauty of it,” he explained.
It should be mentioned that Mr. Zapata faced similar backlash in 2017’s Alyas Robinhood which was compared to CW’s ongoing series, Arrow, as both feature vigilantes using bows and arrows as their main weapons
The breadth of Victor Magtanggol, which was shot entirely in 4K resolution and is special effects heavy (the pilot alone, he said, has about 15 minutes of special effects) was ultimately meant to encourage a generation who are growing up watching streaming services such as Netflix, HOOQ, and iflix, to watch regular TV.
“How I intend to arrest the situation is by coming up with productions that are so massive that you cannot afford it making it only a streamed content production,” he said.
The series was shot both in Japan and the Philippines and is scheduled to air for 16 weeks minimum.
Joining Mr. Richards in the series are John Estrada as Loki, Andrea Torres as Sif (Thor’s last wife and Victor Magtanggol’s trainer), Pancho Magno as Modi (one of Thor’s sons and Magtanggol’s rival), Conan Stevens as Thor, and Miguel Faustmann as Magni/Magnus (another of Thor’s sons and keeper of Mjolnir).
Also in the cast are Al Tantay, Coney Reyes, Eric Quizon, Janine Guttierez, and Maritoni Fernandez, among others.
Victor Magtanggol airs starting July 30 on GMA’s Telebabad Primetime block. — Zsarlene B. Chua

Final Game of Thrones season to air in first half of 2019

REUTERS

BEVERLY HILLS, California — HBO will debut the final season of its international hit Game of Thrones in the first half of next year and it aims to start production on a prequel in 2019, a network executive said on Wednesday.
Casey Bloys, HBO’s president of programming, speaking at a Television Critics Association event, declined to provide details on the eighth and final Game of Thrones season or to provide a more specific premiere date.
The Emmy-winning medieval fantasy series is HBO’s biggest hit ever with some 30 million viewers in the United States and an army of devoted fans worldwide.
HBO, a unit of AT&T Inc., also is in the process of searching for a director and cast for a Game of Thrones prequel, Bloys said in response to questions. He said he hopes the prequel pilot will begin filming next year.
The network announced in June that it had ordered the pilot and would proceed with a full series if the pilot goes well.
The as yet untitled prequel will take place thousands of years before the events of Game of Thrones. It was created by British screenwriter Jane Goldman with author George R.R. Martin, whose novel series A Song of Ice and Fire is the basis for the Game of Thrones television series.
It will chronicle “the world’s descent from the golden Age of Heroes into its darkest hour,” and look at the secrets of the history of the warring families in the fictional kingdom of Westeros, the network has said.
HBO considered five different scripts before settling on the approach for the prequel.
“The reason we did multiple scripts is out of five, we’d be lucky to get one we are very excited about,” Bloys said.
The remaining four scripts are either dead or still in the works, he said. — Reuters

Venice Film Festival to host Netflix movies, to screen unfinished Orson Welles work

ROME — FROM westerns to the space race and the latest offerings from Oscar-winning directors, this year’s Venice Film Festival will present a rich line-up of premieres, including a host of Netflix movies and an unfinished Orson Welles work, organizers said.
The 75th edition of the world’s oldest film festival kicks off in late August, with some 20 movies competing for the Golden Lion Award.
Unlike May’s Cannes Film Festival, which Netflix Inc. pulled out of after organizers banned its films from competition for its refusal to release them in cinemas, the Venice event will show several movies by the streaming platform.
“We must come to terms… with these new production realities,” Venice Film Festival director Alberto Barbera told a news conference on Wednesday.
“We cannot ignore these realities, we cannot pretend they do not exist.”
Among the Netflix films in competition are the Coen brothers’ western The Ballad of Buster Scruggs and black and white family drama Roma by Oscar winner Alfonso Cuaron.
Jason Bourne director Paul Greengrass will present his Netflix-distributed work 22 July — about the aftermath of the 2011 massacre of 77 people in Norway by far-right militant Anders Breivik.
The organizers of the 11-day festival, which usually offers a first peek at Oscar contenders, have already announced La La Land director Damien Chazelle’s space drama First Man, chronicling Neil Armstrong’s mission to become the first man to walk on the moon, as the opening film.
Highly anticipated western dark comedy The Sisters Brothers by Jacques Audiard, and Yorgos Lanthimos’ period piece The Favorite with Oscar winner Emma Stone and new The Crown actress Olivia Colman are also in competition.
Other contenders include Peterloo about the 1819 massacre in Manchester by Mike Leigh and Napszallta (Sunset) by Laszlo Nemes, who directed the Oscar winning Son of Saul.
A film about Vincent van Gogh, At Eternity’s Gate, and What You Gonna Do When The World’s On Fire? about a black community in the southern United States last summer will also vie for the top prize.
“It’s a particularly rich season, we had to make choices and that is often painful,” Barbera said.
Out of competition, a remake of romantic musical drama A Star is Born with Bradley Cooper and Lady Gaga as well as crime film Dragged Across Concrete, starring Mel Gibson and Vince Vaughn will screen.
Netflix is also bringing Orson Welles’ unfinished The Other Side of the Wind to the festival out of competition. The film about a movie director making a comeback was first shot in the 1970s and recently completed.
Organizers have also said veteran British actress Vanessa Redgrave will be presented with the Golden Lion for Lifetime Achievement honor. — Reuters

Comedy next in Czech film series

THE Czech comedy film Cosy Dens (Pelíšky) will be the ninth film in the Czech Movie Gems festival to be screened at the Manila Cinematheque. Based on novel Hovno Hoří (Shit Can Burn) by Petr Šabach, Cosy Dens, directed by Jan Hřebejk and released in 1999, is set during one of the most tragic days of the 20th century when the emerging democracy in Czechoslovakia was being crushed by the Soviet army invasion in August 1968. This coming-of-age comedy depicts two families in a small suburban apartment building, where both fathers obsessed about politics, while unlike them, their teenage kids, being bored with politics, are instead drawn to the allure of the Capitalist West world — rock and roll, the latest sneakers, and beautiful film stars. Cosy Dens was widely acclaimmed by press, critics, and various award-giving bodies, receiving the Critic’s Prize at the 1999 Karlovy Vary International Film Festival among many others. Indirectly, the film brings to attention that this forthcoming month is the 50th anniversary of the end of the so-called Prague Spring. The film will be shown at the Cinematheque Manila on Aug. 8, 6:30 p.m. Admission is free. Seating is on a first-come, first-served basis, subject to capacity.

Man takes pickax to Trump’s star

DONALD TRUMP’s star has dimmed in Hollywood, after a suspect with a pickax early Wednesday vandalized his plaque on Hollywood’s Walk of Fame. It’s the second time vandals have damaged Trump’s star at the tourist site. ABC7 television cited witnesses as saying a man removed the pickax from a guitar case and began swinging it at the brass-rimmed star — one of more than 2,500 embedded in Hollywood’s sidewalks in honor of famous entertainment figures. Before he was elected president in the November 2016 election, Trump starred as himself in The Apprentice TV reality series. Los Angeles police confirmed that they were called about 3:30 a.m. for a report of vandalism at the star’s location on Hollywood Boulevard. After bashing the plaque, the suspect called police “and advised he had vandalized Donald Trump’s star,” the Los Angeles Times quoted police Lieutenant Karen Leong as saying. The police confirmed to AFP that the suspect, Austin Mikel Clay, 24, turned himself in and was booked on a charge of felony vandalism. The Hollywood Historic Trust will repair the star. — AFP

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