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New York Knicks, Los Angeles Lakers most valuable NBA clubs — Forbes

LOS ANGELES — The New York Knicks and Los Angeles Lakers still top the list of most valuable NBA clubs, according to a survey released Wednesday by Forbes — which for the first time says every franchise is worth $1 billion.

According to its latest annual assessment, the average value of an NBA club is $1.65 billion.

The Knicks remain atop that list, worth $3.6 billion (€2.94 billion) and another iconic club, the Lakers, are now worth an estimated $3.3 billion.

The Knicks are profiting from a $1-billion renovation to Madison Square Garden, which provided new revenue opportunities from sponsorships and seating.

The Lakers, who like the Knicks have struggled in recent years, continue to benefit from raking in almost $150 million a year from their local television and radio deals.

The reigning champion Golden State Warriors passed the Chicago Bulls in this year’s list to lie third with a value of $3.1 billion to Chicago’s $2.6 billion.

The Warriors’ jump is due in part to the new arena due to open in two seasons.

New arenas in Sacramento, Milwaukee and Detroit have also pushed up franchise values.

The New Orleans Pelicans are the lowest-ranked, at an estimated value of $1 billion.

The club making the biggest jump from last year was the Philadelphia 76ers, who gained 48% in value to $1.18 billion, according to Forbes’ calculations.

The valuations were calculated with revenues and operating incomes from the 2016-2017 season, while taking into consideration the league’s revenue sharing. Arena deals, and revenue from non-basketball events that take place at the venues, are also included in the totals. — AFP

PHL graduates’ English edge seen narrowing

THE PHILIPPINES’ perceived advantage in English may be narrowing after a study found that Filipino university graduates as a group score below the target grade for high school graduates in some Southeast Asian countries.

“While the general consensus is that the Philippines is superior to its neighboring countries in terms of English proficiency, the results presented in the convention show that the advantage is greatly at risk with the improvement of English literacy in other countries such as Singapore and Thailand,” according to a statement issued by the Government-Academe-Industry Network (GAIN), Inc.

The findings, which were presented yesterday, pointed out that Filipino university graduates averaged a Common European Framework of Reference of Language (CEFR) grade of B1, lower than the CEFR B2 proficiency target set for high school graduates in Thailand and Vietnam.

CEFR is a standard used to measure language proficiency. A grade of CEFR A1 is the lowest while CEFR C1 is the highest.

The CEFR B1 average for Filipino university graduates is comparable to the proficiency of 5th and 6th grade students in native English speaking countries such as the US and the United Kingdom.

Research conducted by Southville Foreign University President Melva Diamante and Hopkins International Partners, Inc. General Manager Rex Wallen Tan showed that the average English proficiency score of a Philippine college graduate is 630 based on the Test of English for International Communication (TOEIC).

“This is alarming considering that taxi drivers in Dubai, United Arab Emirates are expected to have a TOEIC 650 score and business outsourcing agents are expected to have a TOEIC 850 score,” according to the GAIN statement.

GAIN Founder and President Monette Iturralde-Hamlin said: “[W]e have a problem.”

“We are globally competitive because we are good in English. But the results and the studies show that may no longer be true,” she said.

GAIN is a nonprofit organization that aims to identify and address the country’s workforce issues and competitiveness in the global market while Hopkins International is the sole authorized Philippine representative of the TOEIC.

Mr. Tan said that the CFER B1 score is likely the “best case scenario” as the study’s sample of 10,000 students came from the country’s richest and most literate regions.

He added that only between 3.2% to 10% of the graduates would get good jobs abroad based on the CEFR requirements.

The speakers likewise pointed the integration of the ASEAN (Association of Southeast Asian Nations) Economic Community as a concern moving forward.

“We are now competing with Thailand. Yet we were seen as the [leading] English-speaking [country in the] region,” said GAIN Chairman Peter Laurel.

ASEAN integration has increased competition as neighboring countries like Thailand and Malaysia are exerting more effort into achieving higher English proficiency. — Dane Angelo M. Enerio

Megaworld to introduce iTownship concept in Davao Park District

MEGAWORLD Corp. is developing its first “smart” township in Mindanao, as it starts rolling out its iTownship concept nationwide.

In a statement, Megaworld said Davao Park District will be classified as an iTownship, which means it will “integrate digital technology, design innovations and connectivity into the entire development.”

“Our goal is to future-proof our first township here in Mindanao. This means, there will be features and facilities within the township that maximize smart innovations, use of Internet and digital lifestyle. The Davao Park District will become the ‘township of the future,’” Megaworld Senior Vice-President Jericho P. Go was quoted as saying in the statement.

As an iTownship, Megaworld said the 11-hectare Davao Park District will have fiber optic-ready infrastructure, designated bike lanes and bike rental systems, LED-powered signages and digital walls, public and street Wi-Fi access, electric car charging stations and Township Operations Centers, among others.

“We have designated teams to carefully study what we can put here on the immediate term and on the long term. From design, smart technology, mobility and connectivity, energy efficiency as well as safety and security, we will put in place all these features to benefit those who live, work and play in the township,” Mr. Go said.

The P1.2-billion Davao Finance Center, which offers 26,000 square meters of office space, is expected to be finished within the first half of 2018.

Megaworld emphasized the 14-storey building’s safety features, such as an Automatic Fire Suppression System, Fire Detection and Alarm Systems, and a 24/7 CCTV and communication system.

“We will be extra-compliant to what the national and local fire codes require because the safety and security of our office tenants will always remain to be our top priority,” Mr. Go added.

Also in Davao Park District, Megaworld is building One Republic Plaza, with 18,000 square meters of office space inventory, and the Emperador House, with around 10,000 square meters of office space inventory.

Megaworld said the local city council of Davao City recently endorsed the accreditation of the Davao Park District, particularly the area of these office towers, as an economic zone for information technology under the Philippine Economic Zone Authority.

Incorporated in 1989, Megaworld primarily engages in the development of master planned communities that include residential, commercial, leisure, and entertainment components.

Megaworld’s net income attributable to the parent grew 11% to P9.98 billion in the first nine months of 2017, against the P8.98 billion it generated in the same period in 2016. Revenues, meanwhile, increased 5% to P37.1 billion during the same period.

Megaworld is the real estate unit of tycoon Andrew L. Tan’s holding firm Alliance Global Group, Inc., which also has core investments in gaming through Travellers International Hotel Group, Inc., liquor through Emperador, Inc., and quick service restaurants through Golden Arches Development Corp.

A stripped down Himala

By Nickky Faustine P. de Guzman
Reporter

Theater
Himala: Isang Musikal
Presented by 9 Works Theatrical and The Sandbox Collective
Feb. 10 to March 4
Power MAC Center Spotlight, Circuit Makati, Makati City

SIMPLE and stripped of spectacle and choreography. This is how Himala: Isang Musikal’s director Ed Lacson, Jr. sees his version of the 2004 stage musical based on the classic Filipino movie, Himala.

“It is the simpler, distilled version. We opted not to have choreography here, which I know is a big risk because musicals have them. Ganun siya ka stripped down (that is how stripped down it is),” said Mr. Lacson, whose version will be on view from Feb. 10 to March 4 at the Power MAC Center Spotlight, Circuit Makati.

But while this musical is otherwise bare-bones, it will be bold when it comes to the raw emotions required to match the gravity of each scene and each pregnant pause.

The musical will also do away with the use of an orchestra and microphones. “I was so surprised that you can make a musical with just the piano and the voice, without lapel [mics]. No anything,” he added.

Well, except for the rain effect as the deus ex machina turn which is crucial in telling the story.

Himala: Isang Musikal is a production of 9 Works Theatrical — the theater group behind the musicals Newsies and A Christmas Carol — and The Sandbox Collective, which is back from a three-year hiatus after its successful show #NoFilter.

Himala (1982) has one of the best known lines in the history of Philippine cinema — “Walang himala! Ang himala ay nasa puso ng tao, nasa puso nating lahat!” (There are no miracles! The miracle is people’s hearts, in the hearts of all of us!) — uttered by Nora Aunor who played Elsa, the erstwhile mystic.

“It is not a conscious effort to make it different, but it is finding a different entry point as a director,” said Mr. Lacson of his version. “It’s for those who haven’t seen it.”

Written by Ricky Lee, the story is set in the drought-ridden agricultural town of Cupang. A glimmer of hope comes in the form of Elsa, who claims to have healing powers after seeing the Blessed Virgin Mary. Her miracles encourage the ill and the curious to visit the town, reviving its prospects. In the process, the community’s spiritual and moral foundations are tested. “This story would not exist anywhere else but the Philippines. It is so Filipino: the sensibility, the decision making, the situations,” said Mr. Lacson.

The musical’s libretto was co-written by Mr. Lee and musical director Vince de Jesus.

“Here is the challenge: Elsa’s silence. What was she thinking about? That was what I should write. The inner monologues make for a good musical [because] the words left unsaid give it a voice,” said Mr. De Jesus of the work he wrote 15 years ago. “The songs here did not happen in real life. I mean, they sang it, but did the other person hear the song? It just happened in his or her head.”

Mr. Lee wrote the original movie script back in 1976, but no producer would touch it because it was a tragedy and there was no love story. The country was in the grip of Ferdinand Marcos’ Martial Law when Mr. Lee wrote Himala — he had just been released from detention when he finished writing it. “My mood [that time] was about questioning everybody,” he said.

While Himala was a product of its time, its truths endures and its theme is timeless.

Asked if they saw any parallels between the original Martial Law context and today’s setting, the director said it was not his motive to do an agenda musical.

“I did not have any agenda. For me, it is just a vehicle for telling this story. This is the milieu used so we can see how the Filipinos [in the play] decide how their lives should be. It is relevant, but I do not need to have any agenda to tell its story. The politics will come to those who are watching it. The politics comes in you, who is deciding,” Mr. Lacson said.

He added: “We go down to the core, which is [about] coping, people trying to survive. It is powerful enough for you to invest in the story.”

Mr. De Jesus, who was just 15 years old when he first saw the original film, said, “Habang tumatanda ka, nag-iiba ang meaning (As you get older, its meaning changes). You have different concerns when you are 20 or 31, and I am 50 now. It becomes more relevant as you grow old. It has a life of its own. It has many layers: faith, faithlessness, fanaticism, how a good person can do wrong, how your [in your] effort to be loved you end up being broken. Ang dami (So much). Personal, familial, romantic, friendship.”

In this iteration, the role of Elsa will be played by Aicelle Santos (Rak of Aegis and Maynila sa Kuko ng Liwanag). She will be joined by Kakki Teodoro (Aurelio Sedisyoso) as Nimia, Elsa’s childhood friend who opens a cabaret in Cupang; Neomi Gonzales (Rak of Aegis and Katy!) as Chayong, Elsa’s right hand; Bituin Escalante (50 Shades the Musical) as Nanay Saling; and Sandino Martin (Ang Larawan: the Musical) as Pilo, Chayong’s former lover.

Well worth its price

NIHON FALCOM is no stranger to Japanese role-playing games. Having been behind the successful Legend Of Heroes, Dragon Slayer, and Ys series, it was met with positive feedback when it debuted Tokyo Xanadu on the PlayStation Vita in 2015. The title, taking root from the popular Xanadu franchise, showcases many core elements present in the developer’s previous creations, among them an in-depth party system, dynamic combat, and on-the-fly character-switching. Given the welcoming response, a port to traditional platforms was inevitable, hence the release of an enhanced version on Steam and Playstation 4.

In Tokyo Xanadu eX+, players take control of Kou Tokisaki, a broody teenager with a heart of gold. When he’s pulled into an alternate dimension, Kou finds himself caught up in a plot involving otherworldly creatures called Greed, magical weapons, and the mysterious phenomenon “Eclipse.” Along the way, he must balance this out with the need for a normal routine in Morimiya City — going to classes, meeting new people, and generally just hanging out and helping others in need.

Fans of JRPGs such as Persona and Shin Megami Tensei will no doubt find a welcome and familiar premise here. With Tokyo Xanadu eX+ having two main phases, one involving the city and the other the mysterious otherworldly dungeons, it certainly doesn’t make any effort to hide where it got its inspiration from. The good news is that, for the most part, it does just fine. Kou is basically given the option to do whatever he wants, and there’s a certain charm in exploring the city and going on specific quests. The setting lends itself well to how the story and characters progress, and while Kou can come off a bit flat, the other characters are given a fair amount of depth and personality.

Needless to say, the latter adds meat to Tokyo Xanadu eX+, as friendly characters and would-be party members don’t just appear as cardboard cutouts but are given a fair amount of dialogue and personality. However, unlike in Nihon Falcom’s previous titles, Tokyo Xanadu eX+ features real-time combat. This represents a tonal shift that may prove jarring to Nihon Falcom regulars; while the story moves at a pace that is best described as reasonably slow, the combat sections are anything but.

Significantly, Tokyo Xanadu eX+’s Combat system moves away from the more traditional JRPG experience and opts for a more hack-and-slash approach to gameplay, with characters able to dodge and perform special attacks both on the ground and in the air. From combo attacks to flying attacks to special attacks to mid-battle character swapping, the game offers an interesting take on battles, treading a middle ground between slow and steady turn-based-with-active-time-battle-gauge gameplay (à la Final Fantasy) and fast full-on action (as in Witcher or Dragon Age).

Tokyo Xanadu eX+ 2

Combined with the challenge presented by bosses which are both terrifying to behold and entertaining to fight, Tokyo Xanadu eX+ proves to be reasonably heavy on both strategy and tactics. Fighting never devolves into button-mashing madness and requires displays of skill and sound decision-making, a welcome development for a genre whose best titles primarily rely on arbitrary stats and numbers.

As the tweaked version of its Vita ancestry, Tokyo Xanadu eX+ features additional scenarios, content, and rebalancing to make the game an overall better experience to play. And, thankfully, it runs at a smooth 60 frames per second, with few hiccups and bugs overall.

In the final analysis, Tokyo Xanadu eX+ is well worth its $60 price tag. Its story isn’t perfect, but its attention to characters and the painstaking care it put into the setting and the complex combat system makes it a great buy for JRPG fans, even for those who already played it on the Vita. With a first-run playtime of around 60 to 70 hours, it’s a bit short on the whole, but the amount of content available plus its fun factor give it outstanding replay value. Highly recommended.

Video Game Review

Tokyo Xanadu eX+
PlayStation 4

THE GOOD:

• Familiar setting with an interesting, if imperfect, story and a colorful cast

• Challenging yet fun combat system

• Superb music and voice acting

THE BAD:

• Shorter than other comparative JRPGs

• A bit too reminiscent of Persona and Legend of Heroes

• Can be dragging at times

RATING: 8.5/10

Tesco faces equal-pay case that seeks up to $5.6 billion in claims

AS THE UK FORCES companies to disclose the gap between men’s and women’s pay, the country’s biggest private employer is confronted with a massive demand from workers feeling short-changed.

Supermarket chain Tesco Plc has been presented with claims that law firm Leigh Day says could eventually total as much as £4 billion ($5.6 billion). The firm contends that female shop-floor workers are unfairly paid less than their male counterparts in warehouses and says more than 200,000 workers could be entitled to compensation.

“There really should be no argument that workers in stores, compared to those working in distribution centers, contribute at least equal value to the vast profits made by Tesco,” Leigh Day lawyer Paula Lee said. Tesco said it hadn’t received the claims.

The demands come as the UK implements new rules requiring any company employing more than 250 people to disclose the disparity in pay between men and women by April. Tesco is particularly exposed because of its size as well as a recent push to put thousands more staff on its shop floors in a bid to soften its hard-nosed image among UK consumers.

Staff in Tesco’s stores are paid around £8 an hour, while their counterparts in distribution centers may get in excess of £11.50, Leigh Day said. The firm said it has been approached by more than 1,000 people either currently or formerly employed by Tesco.

The grocer previously said that men on average were paid 14% more than women in the year through April 2016. Of Tesco’s lowest paid workers 62% are women, but only 41% of its highest earners are female. A Tesco spokesman said the company “works hard to make sure all our colleagues are paid fairly and equally for the jobs they do.”

Tesco’s shares were down 0.8% at 9:50 a.m. in London.

“If the Tesco employees are equally successful then all major retailers, and indeed businesses more generally, could be exposed to a tidal wave of equal pay litigation,” Crowley Woodford, an employment lawyer at Ashurst, said in an e-mail.

The publication of the British Broadcasting Corp.’s highest earners revealed substantial differences between men and women at the top of the organization, while EasyJet Plc’s new male chief executive officer took a pay cut to match the salary of his female predecessor.

Leigh Day specializes in human-rights cases that have turned it into a thorn in the side of large companies. Among other things, it represented Nigerian villagers against Royal Dutch Shell Plc over oil spills.

The Tesco case follows similar claims by Leigh Day against two other UK supermarket operators — Walmart, Inc.’s Asda and J Sainsbury Plc. In the Asda case, which more than 15,000 workers have joined, an employment tribunal found that the lower-paid store staff can compare themselves to the distribution-center workers.

“The difference in pay is probably due to the nature of the work rather than gender, but the Tesco claim could have big repercussions across other retail businesses,” according to Maureen Hinton, director at retail researcher Conlumino.

For all retail staff, work is already becoming less secure. Amid a shift to online shopping and warehouse automation there was a 3.9% drop in the number of hours worked in the UK retail industry in the fourth quarter, according to the British Retail Consortium.

For the retailers, the threat of a further bump in staffing costs is unwelcome. The likes of Tesco have borne the brunt of recent increases in the UK’s minimum wage, as well as cost increases stemming from the fall in the pound after the country’s vote to leave the European Union. — Bloomberg

What to see this week

3 films to see on the week of February 9-16, 2018

Along With the Gods: The Two Worlds


DUBBED as the film that usurped Train to Busan’s place as Korea’s top-grossing film, Along With the Gods: The Two Worlds tells a story of a firefighter who, after a heroic death, navigates through the afterlife with the aid of three guides. Directed by Kim Yong-hwa, it stars Ha Jung-woo, Cha Tae-hyun, Ju Ji-hun, Kim Hyang-gi, Lee Jung-jae, and Kim Dong-wook. The Hollywood Reporter’s Elizabeth Kerr writes, “In general, the film is strong technically, but appropriate though it may be, Bang Jun-suk’s syrupy, string-heavy score in the last act is likely to cause cavities.”

MTRCB Rating: PG

Meet Me in St. Gallen


JESSE and Celeste meet at a coffee shop and have one-night stand. They reunite every few years and eventually fall in love. Directed by Irene Emma Villamor, it stars Carlo Aquino and Bella Padilla.

MTRCB Rating: PG

Samson


A YOUNG Hebrew judge gifted with extraordinary strength defends the Israelites. He makes sacrifices to avenge his love, people, and God. Directed by Bruce McDonald, it stars Taylor James, Jason Rathbone, Billy Zane, Lindsay Wagner, Rutger Hauer, and Caitlin Leahy.

MTRCB Rating: PG

I, Tonya


THE Oscar nominated film is based on the life of American figure skater Tonya Harding and one of sports history’s most sensational scandals. After being the first American woman to complete a triple axel in competition, her association with a poorly executed attack on Nancy Kerrigan, an Olympic competitor, overshadowed her success. Directed by Craig Gillespie, it stars Margot Robbie, Sebastian Stan, Allison Janey, Paul Walter Hauser, Julianne Nicholson, and Bobby Cannavale. The New Yorker’s Richard Brody writes, “Gillespie stages his empathy for Tonya at arm’s length; he fails to respond to her experience in a direct, personal way. The result is a film that’s as derisive and dismissive toward Tonya Harding as it shows the world at large to have been.”

MTRCB Rating: R-13

On the Wings of Eagles


THE EPIC DRAMA tells the story of runner Eric Liddell from winning gold in the 1924 Paris Olympics to his experience as a POW during the Second World War. Directed by Stephen Shin, it stars Joseph Fiennes, Shawn Dou, Richard Sanderson, Jesse Kove, Elizabeth Arends, and Augusta Xu-Holland.

MTRCB Rating: PG

Severe blow

Nobody wants injures to happen, and from the Knicks’ vantage point, the anterior cruciate ligament tear on Kristaps Porzingis’ left knee the other day was just about the worst that could happen. Already in the midst of a swoon that had them winning just five of their last 18 games, the turn of events, which figures to sideline their top dog for the remainder of the season, all but scuttled their plans to make the playoffs.

On the other hand, the longer-term prognosis for the Knicks has them actually benefiting from Porzingis’ sidelining. Even as they were hitherto intent on battling for a postseason berth, their glaring inability to close out matches handicapped their cause. Heading into their match against the Bucks the other night (which, needless to say, led to yet another setback), they were five games off the eighth seed in the East and still dropping in the standings.

With Porzingis now out for the foreseeable future, the Knicks have no choice but to change their mind-set. Given their lack of competitiveness without their leading scorer and shot-blocker, they’ll be bent on tanking from here on. And if there’s any good news, it’s that the injury occurred before the trade deadline. Already, they’ve dealt seldom-used Willy Hernangomez, and are shopping starter Courtney Lee and reserve Kyle O’Quinn, in an effort to stack up on draft assets. As general manager Scott Perry noted, “our job is to get this team in better position for when he returns to the court so he returns to a group more cohesive, stronger and hopefully a little more talented.”

A tall order? Perhaps, and certainly made no easier by the albatross of a contract departed executive Phil Jackson gave to the banished Joakim Noah. All the same, the Knicks now have the opportunity to give the core of their future more on-court exposure and, as a result, experience, an option that was not on the table during their win-at-any-cost phase.

Make no mistake. The injury to Porzingis deals the Knicks a severe blow. He’ll be out for the better part of a year, which means his progress as their go-to guy will be stunted. That said, it’s not a death blow. If nothing else, it’s a chance for them to reboot their program, and, hopefully, they’ll be able to get things right this time around.

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is the Senior Vice-President and General Manager of Basic Energy Corp.

ECB wakes up to risks of digital currencies

THE European Central Bank (ECB) has woken up to the risks digital currencies can pose to policy makers’ bread-and-butter business: the economy.

“If you increasingly have bridges between the virtual world and the real world and then there is a collapse in this virtual world, it could drain liquidity from the real world,” Executive Board member Yves Mersch said in an interview in Frankfurt. “This then becomes a concern for the central bank.”

Until recently, policy makers dismissed cryptocurrencies as a speculative experiment. That changed when investors piled into Bitcoin and its peers toward the end of last year, creating more than $684 billion in paper wealth in just three months, before prices tumbled in 2018. Officials are investigating whether and how they can control a new asset class that’s captured the imagination of retail investors and attracted interest from financial institutions.

“We need more information,” Mersch said. “For me, one obligation would already be to force the unregulated platforms to report transactions in a harmonized way to repositories so that we would have access to information — also in order to create a better response.”

Germany and France are leading a push among the world’s biggest economies to regulate cryptocurrencies, and Mersch’s ECB colleague Benoit Coeure said last month that he’d expect the topic to feature prominently during a Group of 20 meeting in Argentina in March.

Agustin Carstens used his first major speech as head of the Bank for International Settlements this week to argue that there is a “strong case” for authorities to rein in digital currencies to ensure the functioning of payment systems and safeguard the “real value” of money.

“You won’t be surprised to know that we at the ECB are fully in line with his views and we have similar worries, or similar endeavors we are working on,” Mersch said. “The question is not so much that these virtual currencies are already at a level that would cause huge disruption in the real economy, but we are currently more concerned about the social and psychological effect they seem to have.”

STUDYING BLOCKCHAIN
Banks and regulators are researching whether the blockchain technology that supports Bitcoin could make capital markets more efficient and streamline cross-border payments. Concerns are mounting that the spread of cryptocurrencies — there are more than 1,500 digital tokens on the market now — could help criminals and terrorists conceal their finances.

The European Union has agreed to bring virtual currencies under the jurisdiction of anti-money-laundering legislation, which will require marketplaces to verify the identity of their customers.

The ECB has its own ways to prevent digital currencies from piggybacking on its financial infrastructure. The collateral framework already bans those assets from being used in financial transactions, while central counterparty clearing can be adjusted, Mersch said.

Earlier this week, ECB President Mario Draghi told the European Parliament that the central bank’s supervision arm is studying the risks digital currencies may pose to banks’ balance sheets. While he noted that financial institutions have so far shown limited appetite for the assets, he singled out the introduction of Bitcoin futures contracts on US exchanges as a potential risk.

“If you see how fast something can develop, it can very quickly reach dimensions of past bubbles that also had negative effects on the economy,” Mersch said. “That we cannot ignore.” — Bloomberg

Your Weekend Guide (February 9, 2018)

Christian Bautista joins the ballet

BALLET MANILA’S Ballet & Ballads returns to close the ballet company’s current season with a mix of dance and song. The star-studded affair features Ballet Manila CEO and Artistic Director Lisa Macuja-Elizalde, heartthrob crooner Christian Bautista, the Klassikal Musical Foundation, and the ABS-CBN Philharmonic Orchestra. There will be performances on Feb. 10, 6 p.m., Feb. 11, 3 p.m., Feb. 17, 6 p.m., and Feb. 18, 3 p.m., at the Aliw Theater, CCP Complex, Pasay City. For tickets and schedules, visit TicketWorld (www.ticketworld.com.ph, 891-9999).

Himala returns onstage

AICELLE SANTOS stars as a young woman who is looked upon as a bucolic town’s savior in Himala: Isang Musikal. The show runs until March 4 at the PowerMac Center Spotlight, Circuit Lane, Circuit Makati, Makati City. The musical is based on the 1982 Ishmael Bernal film starring Nora Aunor. For tickets and schedules, visit TicketWorld (www.ticketworld.com.ph, 891-9999).

Leigh Nash, Stephen Speaks live

CATCH Leigh Nash of Sixpence None the Richer and Stephen Speaks perform at Eastwood Mall Open Park on Feb. 9, 6 p.m. They are best known for songs such as “Kiss Me,” “There She Goes,” “Need to Be Next to You,” “Out of My League,” “Passenger Seat,” among others. For more information, contact the Megaworld Lifestyle Malls Concierge at (709-9888) or (709-0888), (0917-838-0111) or visit (www.megaworldlifestylemalls.com).

Erotic start for Fringe 2018

THE FIRST show for Fringe 2018, Deux Sex Machina: Hard Art for Art’s Sake, features Metro Manila’s first (and only) comedic erotica live-reading ensemble. Eight new original pieces will be performed at the Yuchengco Museum, RCBC Plaza, Makati City on Feb. 9, 9 p.m. Tickets are at P300 and are available at TicketWorld (www.ticketworld.com.ph, 891-9999). For information, e-mail info@yuchengcomuseum.org.

PETA’s season ender ’Night, Mother

PETA closes its 50th theater season with Marsha Norman’s Pulitzer-prize winning drama, ’Night, Mother, featuring Eugene Domingo and Sherry Lara. On an otherwise normal evening, Jessie announces to her mother that she plans to kill herself before the night ends. The show runs until March 18 at the PETA Theater Center, No. 5 Eymard Drive, New Manila, Quezon City. For tickets and schedules, visit TicketWorld (www.ticketworld.com.ph, 891-9999).

Borlongan gives Artist Talk

MEER EMONG: Artist Talk at the MET will be held on Feb. 10, 2 p.m. Artist Elmer Borlongan will talk about his ongoing exhibit, Elmer Borlongan: An Extraordinary Eye for the Ordinary, sharing insights on the artworks on view, the exhibition themes, and his 25-year artistic practice. Registration starts at 1:30 p.m. Lecture fee is P150 and P120 (students, senior citizens, PWDs). The exhibit runs until March 28. The Metropolitan Museum of Manila is at the Bangko Sentral ng Pilipinas Complex, Roxas Blvd., Malate, Manila.

The Greatest Showman sing-along

MALLGOERS and fans can join in the sing-along version of the musical film The Greatest Showman in select SM Cinema theaters. The tale of American showman and founder of Barnum & Bailey Circus, the film stars Hugh Jackman, Zendaya, and Zac Efron. There will be sing-along screenings of the film at SM Aura on Feb. 9 and SM Southmall on Feb. 10. A display of the film’s costumes is on view until Feb. 14 at SM Aura and SM North EDSA. Tickets can be booked through www.smcinema.com or get the SM Cinema app through the App Store and Google Play.

RHI narrows net loss in Q1

ROXAS HOLDINGS, Inc. (RHI) narrowed its net loss by 2% during the first quarter of crop year 2018, as revenues surged on higher volume of sugar sold.

In a statement, RHI said it posted a net loss of P110 million during the three-month period ending December, lower than the P112 million posted a year ago.

The integrated sugar and ethanol producer’s fiscal year begins on Oct. 1.

Consolidated revenues rose 39% to P2.07 billion during the first quarter, from P1.49 billion a year ago, boosted by higher sales of sugar.

For the quarter, RHI sold 786,173 kilogram bags (LKg) of raw sugar, 189% higher than the 272,374 LKg recorded a year ago. Volume of refined sugar went up 23% to 431,014 LKg. One LKg is equal to one 50-kilogram bag of sugar.

RHI Chairman Pedro E. Roxas in a statement said the first quarter is usually a slow period, but revenues from sugar operations doubled to P1.8 billion during the first quarter from P904 million a year ago due to sales of inventory from the previous crop year.

RHI President and CEO Hubert D. Tubio said the company’s gross profit increased 35% to P144 million due to higher revenues and improved efficiencies.

“We are seeing improvements in efficiencies, which resulted to higher production volumes at improved levels of production cost,” he was quoted as saying in a statement.

RHI Executive Vice-President and Chief Financial Officer Celso T. Dimarucut said the company’s earnings before interest, taxes, depreciation and amortization jumped 4% to P191 million in the first quarter versus 2017’s P183 million.

“While the Group’s interest expense for the period rose to P122 million in Q1 2018 from the P98 million in the previous year, carryover inventory sold during Q1 2018 reduced debt level by P527 million,” Mr. Dimarucut said.

Incorporated in 1927 as a sugar milling company, RHI became a holding and investment corporation in 2002, integrating its various sugar businesses, branching out to sugar, tolling and refining, energy and bioethanol.

RHI’s shares on Thursday were up 25 centavos or 6.85% to close at P3.90 each.

Most of RHI’s shares are owned by Hong Kong-based company First Pacific Co., Ltd., which also owns the PLDT, Inc. Hastings Holdings, Inc., a unit under PLDT’s beneficial trust fund subsidiary MediaQuest Holdings, Inc., has partial interest over BusinessWorld through its Philippine Star Group. — Anna Gabriela A. Mogato

Love and luck at Robinsons malls

NEXT WEEK sees two festival occasions: Valentine’s Day on Feb. 14 and the Lunar New Year on the 16th to mark the dual celebrations, Robinsons Malls offer shoppers a series of activities this month.

For those looking for the perfect present to show their affection, shop at Robinsons Galleria from Feb. 10 to 18 during the “Sweets for the Heart” Valentine promo. For a minimum single receipt purchase of ₱3,000, one gets a free Toblerone chocolate bar.

Over at Robinsons Place Santiago, Isabela’s best acoustic bands serenade shoppers with love songs as they perform live from Feb. 10 to 15, while at Robinsons Town Mall Malabon, acoustic singer Aiza Seguerra performs on Feb. 11.

On Feb. 14, the Pool of Music Ensemble visits Robinsons Metro East, while at Robinsons Place Malolos, Himig Handog P-pop Love Songs Finalist, Hazel Faith, launches her debut album, Keep The Faith, in time for the Valentine’s celebration.

Freebies abound at the malls in the Visayas region: present a single-receipt purchase of ₱1,000 to get heart-shaped pillow at Robinsons Place Jaro, Robinsons Place Antique, and Robinsons Place Roxas; flowers at Robinsons Place Tacloban and matching couple mugs at Robinsons North Tacloban. At Robinsons Place Iloilo, aside from getting special love gift tags with a single-receipt worth ₱1,000, Valentine’s Day will see the launch of Fave Radio Live featuring the mall’s Robinsons Singing Star alumni. This will be broadcasted live on Robinsons Place Iloilo’s official FB page, RobPlaceIloilo.

Meanwhile, Robinsons Malls will help visitors pick up good fortune for the Year of the Dog with numerous events celebrating the Lunar New Year.

On Feb. 17, Robinsons Place Antipolo will host Chinese Art Kiddie Workshops, while on Feb. 17 to 18, Robinsons Place Malolos will present a Chinese cultural show by the Confucius Institute of Bulacan State University.

For those who want to know their fortunes, two Feng Shui Masters will give consultations to mall visitors. Dr. John Tan — a professional Feng Shui Consultant in the Institute of Fengshui Bazi — will visit Robinsons Place Angeles on Feb. 7 to 9 and Robinsons Starmills Pampanga on Feb. 10 to 12; Hanz Cua — “the youngest Feng Shui Master in the Philippines and Asia” — will conduct his own Feng Shui consultation at Robinsons Galleria on Feb. 17. And finally, the celebration of Chinese New Year will not be complete without the traditional Dragon and Lion Dances. There will be performances on Feb. 16 at Robinsons Galleria, Robinsons Metro East, Forum Robinsons, Robinsons Novaliches, Robinsons Place Malolos, and Robinsons Place Santiago, and on Feb. 17 at Robinsons Place Antipolo, Robinsons Town Mall Malabon, Robinsons Starmills Pampanga, and Robinsons Place Angeles.

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