Facebook Instagram Linkedin Twitter Youtube
Home Blog Page 12852

Del Monte Pacific maps turnaround plan

By Victor V. Saulon, Sub-Editor

DEL MONTE Pacific Ltd. (DMPL) mapped out a turnaround path for the company as it made a pitch to investors for its second tranche of US dollar-denominated shares that are on offer through Dec. 8.

Luis F. Alejandro, DMPL general manager and chief operating officer, said the most important factor for investors to look at is the organization’s new make up.

“We have a new CEO, new  CFO, new supply chain head, we have a new sales head and up and coming very soon in the next couple of months would be a chief marketing officer,” he said in an interview at the company’s headquarters at Bonifacio Global City on Tuesday.

DMPL is offering the Series A-2 preferred shares with an oversubscription option of up to 8 million. The shares have a par value of $1 each and an issue price of $10 per share.

The shares have a dividend rate of 6.5% per annum.

The funds raised from the offering will be used mainly to pay the balance of a $154 million loan from BDO Unibank, Inc.

“So we have overhauled the leadership team after two years because only in doing so, can we at least increase our chances of fast turnaround,” Mr. Alejandro said.

Turning the business around, he said, boils down to the company’s leadership and management.

“So I think in that perspective, that’s the most important development that has happened in the past six months,” the DMPL executive said. “With the right leadership you exactly know what will happen.”

Mr. Alejandro also said the company hired consultants on how the company could further downsize its operations in the US.

“For the US, they have given us some good guidance on how we can downsize, and with downsizing the operation, we will be more competitive in our pricing and the same time, we’ll have more cash that we can put into profit and put into marketing spending that will further drive volume, revenue and therefore profit,” he said.

Parag Sachdeva, DMPL group chief financial officer, said the company would be on an “investment mode” for this year and next.  

“We would be investing more than the usual in consumer and trade activation programs so that we can really accelerate in a declining category,” he said, referring to canned fruits, which have been overtaken by consumer preference for fresh fruits.

“This will require us to really invest, which will mean that profit performance in the next couple of years may be either flat or might even decline. That would lead to rebuilding the profit story in the next two or three years,” Mr. Sachdeva said.

“We are investing an incremental 3% of sales in driving the top-line growth,” he said, pointing out that the move would be for the company’s US business.

Asked to describe the size of the US operations as against the total, Mr. Sachdeva said: “I think it’s around 75%. It’s a big component from a sales perspective. But from a profit perspective, our Asian operation contributes more than 50% to the profitability of the company. We do expect the US to start contributing bigger from a profitability perspective in two to three years time.”

For full-year results ending in April 2017, DMPL reported sales of $2.3 billion, down 0.9%, largely because of lower US sales.

Task force formed to probe rogue cops

THE DEPARTMENT of Justice (DoJ), upon the request of the Philippine National Police (PNP), has created a task force to handle the preliminary investigation of cases filed by the PNP-Counter Intelligence Task Force (PNP-CITF) against rogue cops. Under Department Order 697, dated Oct. 25 but released to the media just this week, the task force will be spearheaded by Senior Deputy State Prosecutor Severino H. Gana, Jr. The group’s members include: Senior Assistant State Prosecutors Juan Pedro C. Navera, Susan B. Azarcon, Edwin S. Dayog, Susan Villanueva, Ma. Emilia Victorio, and Hazel Decena-Valdez; Assistant State Prosecutors Aristotle M. Reyes, Consuelo Corazon M. Pazzuiagan, and Chulo B. Palencia, Jr.; and Assistant Prosecutor Attorneys Borgy Calugay, Joan Carla Garcia, Loverhette Jeffrey Villordon, and Jonathan Paul Dimaano. — Andrea Louise E. San Juan

China’s November factory growth picks up despite pollution crackdown

BEIJING — Growth in China’s factory sector unexpectedly picked up in November, despite a crackdown on air pollution and a cooling property market that have been expected to weigh on the world’s second-biggest economy.

The upbeat data should help ease concerns, for now, that Beijing’s campaign to curb excess risk in the financial sector and its punishing war on smog could lead to a sharper-than-expected slowdown in China’s economy.

“A lot of people (predicted) a cyclical slowdown, but we haven’t seen that… it looks like the current momentum can be sustained until at least early next year,” said Zhou Hao, senior Asia emerging markets economist at Commerzbank.

The official Purchasing Managers’ Index (PMI) released on Thursday stood at 51.8 in November, compared with 51.6 in October.

It remained above the 50-point mark that separates growth from contraction on a monthly basis for the 16th straight month.

Analysts surveyed by Reuters had forecast it would come in at 51.4, easing for a second straight month after September’s more than five-year high.

Boosted by hefty government infrastructure spending, a resilient property market and unexpected strength in exports, China’s manufacturing and industrial firms have been a major driver behind the economy’s forecast-beating growth of nearly 6.9% so far this year.

November’s strong reading was led by high-tech and consumer goods manufacturing.

October economic data disappointed analysts as investment, industrial output and export growth slowed, raising concerns that a long-expected slowdown had begun, though Thursday’s PMIs suggested there was still solid momentum in China’s massive manufacturing sector.

Still, some economists see fourth-quarter economic growth moderating to around 6.6%, and slowing further to 6.4% in 2018, as borrowing costs rise and the boost from earlier infrastructure projects begins to fade.

“We doubt the current momentum in manufacturing will be sustained given that the sector faces increasing headwinds in the months ahead from the anti-pollution crackdown, slower credit growth, reduced fiscal support and a cooling property market,” Capital Economics economist Julian Evans-Pritchard wrote in a note.

A senior banking regulator said on Thursday that China’s economy could face downward risks as soon as the first quarter next year as the economy struggles for sustainable growth in the face of government efforts to deflate asset bubbles.

PRICE BOOST
For now, though, strong commodity prices are continuing to boost the performance of industrial firms such as steelmakers, which have cranked up production to cash in on robust profit margins.

While some mills, smelters and factories in northern provinces have been forced to curb output to reduce winter smog, there are signs that their counterparts in other parts of the country have ramped up output to gain market share.

A separate PMI on the steel sector rose to 53.1 in November from 52.3 in October, while a reading on steel raw materials jumped 12.6 points to 56.7.

Indeed, Chinese steel futures jumped nearly three percent on Wednesday to their strongest level since mid-September as winter curbs reduced stockpiles to the lowest in years.

Profits for China’s industrial powerhouses surged 25.1% in October, down only slightly from September’s nearly six year high, as coal mining and other upstream sectors continued to benefit from high prices.

Earnings have been boosted by surging factory gate prices, though the latest survey showed input price gains slowed, with the reading at 59.8 compared to 63.4 in October and the lowest since July.

Output price gains also slowed, reflecting concerns that higher commodity prices have not trickled down to higher prices and profit margins for downstream industries.

The latest pollution closures come on top of ongoing government efforts to trim down and upgrade the country’s bloated industrial sector by shutting down outdated capacity, which also has helped support producer prices.

A sub-reading for output rose to 54.3 in November from 53.4 the previous month as factories continue to expand production.

Readings for total new orders, new export orders and imports also quickened.

The PMI showed that large firms continued to be the best performers in November, though the gap between smaller firms narrowed from the previous month.

But the environmental crackdown is creating uncertainty for industrial firms, with an executive at the nation’s largest integrated copper producer Jiangxi Copper saying costs are going higher as emissions standards rise.

A sister survey also showed activity in China’s service sector accelerated at a faster rate in November, reinforcing the view that any slowdown in the economy would be gradual.

The official non-manufacturing Purchasing Managers’ Index rose to 54.8 from 54.3 in October.

A sub-reading for the construction sector rose to 61.4 from 58.5 in October.

The services sector accounts for over half of China’s economy, with rising wages giving Chinese consumers more spending power.

China’s leaders are counting on growth in services and consumption to rebalance their economic growth model from its heavy reliance on investment and exports. — Reuters

The Crown returns

By Mira Catherine B. Gloria
Online Editor

Television
The Crown
Netflix

“THE WORLD is changing and no one is prepared for what’s about to happen.” This was how award-winning actress Claire Foy, who plays Queen Elizabeth II in Netflix’s The Crown, teased the series’ upcoming second season, which will premiere on Netflix on December 8.

Foy returns as England’s sure-footed monarch who has to endure scandals and political crises both at home and abroad. The sophomore season of Netflix’s critically acclaimed historical drama will air 10 episodes, chronicling major political events that shaped Britain in the second half of the 20th century, from British armed forces fighting an illegal war in Egypt, to the downfall of Britain’s third Prime Minister, Harold Macmillan. This season won’t be complete without highlighting the drama within the royal household: Prince Philip’s rowdy behavior has threatened the Queen’s marriage, and Princess Margaret’s romance with fashion photographer Antony Armstrong-Jones has drawn unwanted attention to the royal family.

Also reprising their roles in Season 2 are Matt Smith as Prince Philip, the Duke of Edinburgh, and Vanessa Kirby, as Princess Margaret. Joining the cast this season is Matthew Goode (Burning Man, The Imitation Game), who stars as Antony Armstrong-Jones.

While filming Season 2’s last episodes in Lancaster House in London back in March, the four actors sat down with a group of visiting journalists and talked about what the new season brings — “mayhem,” hinted Kirby — and the challenging part about portraying members of one of the world’s most fascinating families:

What was it like playing a living monarch?

Claire Foy: I don’t really know how it feels. I’ve played real-life people quite a lot. It’s sort of less strange than getting feedback [from the person you’re portraying] because [in this series] you don’t get any feedback [from the Queen].

So I think at a certain point you can’t be scared of a) what the world is going to think, or b) that person (you’re portraying). We were never gonna be sensationalist about it or disrespectful or mean in any way. I would never ever want to do that with any part that I play just to offend people.

It’s a great character that Peter [Morgan, the show’s creator] has written, because it’s his invention. And it’s really the opposite of me. So I really enjoy playing her.

What was your perception of the royal family while growing up?

Claire Foy: I think as a British citizen, you just sort of grow up knowing that they’re there. They’re part of the fabric [of society] that we live in, so you just sort of accept that they’re there. You see them — Christmas, Easter, so they’re part of… sort of your family, in a way.

Matt Smith: Well it’s sort of ingrained to your cultural sensibility. I was aware of them, but I didn’t really pay that much attention to them. They were sort of just there, like the Buckingham Palace. But now I drive past it there’s a renewed sense of interest. I’ve become much more fond of them having made the show.

Vanessa Kirby: [I was] a bit indifferent. I didn’t really know much about them. I loved learning about historic kings and queens like Henry VIII — that was always fascinating to me. The current [royals], I didn’t really see what their purpose was necessarily, I don’t think that it’s that clear anymore. But I feel really proud of the show because of what it does and being inside it, too, and even as a person, it has helped me really lose the judgment and dissolve prejudices I have against them as human beings.

How do you prepare for your role?

Claire Foy: Just trying to approach it as an outsider… you really have to approach [the character] with a blank page. You can’t go with any preconceptions or judgment that you’ve known before because it just won’t work. So you just have to go forget everything you’ve been told or remember. And that’s sort of your job as an actor, anyway.

I supposed, your tendency as an actor is to want to emote, to feel everything, you want to be angry, you want to be sad, and you want to be happy, and you want to do all those things because, it’s a release, and it feels really good. But with Elizabeth, the type of person that she is, she doesn’t have that outlet… She’s just a very contained person, that’s part of her character. And that’s part of her generation; they keep calm, they carry on, and they sit around and go, “Oh, boohoo,” and navel gaze, all those things. [Crying] was just not part of their make up.

So it wasn’t necessarily hard [playing the part]. It’s just a different kind of direction, I suppose. And sometimes, you know, putting a restriction on yourself is amazing, because then it means you have to find other things to explore and stuff so, it’s challenging. It’s still great. I love it.

Matt Smith: [Prince] Philip, he’s got a particular gait and a particular stand, so I try to adopt that. He’s quite an interesting one, really, but I dip in and out [of the character], trying to get my head around it just before we’re about to go and then the rest you take your mind off it.

We have a great vocal coach, who helped us out and just kind of steep us really in the time and the period and the history of the [royal] family. Actually I learned a great deal not only about the royal family but of culture, history and the state of Britain.

The Crown 2

What did you discover about the character you play?

Matt Smith: Quite a lot. I love that [Prince Philip] has been a great servant to the country and the Queen… I’ve just been fascinated really by his humor and his wit and his charisma. I think Peter Morgan has written a great character.

He’s been a great father, he was great in the navy. But in this series, we explore his relationship with [Prince] Charles, which is interesting, and just explore the sort of debt that he had to pay in many respects. When you marry into a royal family and the parts of your life that you give up forever and I think that was difficult for him and it’s been interesting to explore the conflicts of him.

Vanessa Kirby: I didn’t know anything about [Princess Margaret]. I’ve seen pictures and I sort thought of her as an old lady with a drinking habit… It’s been amazing to recreate somebody or look at someone again in her early life and really get to know who they were then, and I try to read everything I could — lots of different accounts from sensationalist, musical-world type books, which are actually really great, to historically accurate, sort of very reverential accounts of her. And then there was lots of stories from different people, from different generations… I try to go back and find out who she was because, you know, someone just doesn’t end up like that.

I really loved taking on the journey of somebody who was all set for one thing and then your father dies and it completely changes. And how that affects everything, from the man you’re going to marry and have children with, and how that changes the course of your life.

What can we expect in the second season?

Matt Smith: It’s still all about [the royal family], really. But we learn more about [Prince Philip’s] history, where he’s from. We touch on [Queen Elizabeth and Prince Philip’s] marriage, and we explore the difficulties as any marriage would face, and that, I think, is ultimately what’s interesting about the royal family. And when it works, at its best, is that you glimpse them as basically, normal people, who get up and… I always like the scenes where they get ready for bed…the domestic stuff. I think these are, most often, the most dramatic and most compelling.

Vanessa Kirby: What we left off in Season 1, Margaret was not in a good place and, unexpectedly, this man [Antony Armstrong-Jones] walks in and there is an instant electricity, sort of meeting of equals in a way that she’s never felt before and mayhem ensues.

For me, personally, thinking about what [Princess Margaret] had gone through, or what she did, I think the aftermath of recovering from something like that — when your big sister says you can’t marry somebody that you’ve been waiting to marry for years and you’re in love with — how that affects you psychologically and going into love and just life in general.

Finding out who she really is, that journey, is I think [what can be expected] in this season.

Will the romance between Princess Margaret and Antony Armstrong-Jones be featured in the second season? How do you describe the chemistry between your characters?

Matthew Goode: It was the full 1960s. It was a new movement in music and art and everything. And I think it was one of the most exciting times to be around, especially with the general election, people thought there was change coming… and I think that fed very much into their relationship.

Vanessa Kirby: I think they found a match in energy and power that both of them had. And Margaret, I felt, needed somebody to say “No” to her. Somebody that intellectually matched her and that also somebody who showed her this whole other side of life — the underground London, the bohemian London, the jazz clubs, the art scene, all of which are essential to her but she never had access to inside these walls.

In the first season, you got a girl who’s desperate to get out but doesn’t know how. And she’s so intrinsically part of the family and her whole identity is just “princess,” that’s her name…

And she meets somebody that throws that away, which is incredibly exciting, alluring, electric, dangerous. “Get on the motorbike” — it’s danger, it’s thrill-seeking… And I think she goes head first into it. The rebel meets the rebel.

Why do you think the series was such a big hit?

Vanessa Kirby: I think that they are the last reigning public personas that [people] don’t have access to and don’t really know who they are behind closed doors.

Matthew Goode: The royal lineage goes back hundreds of years and it has affected a lot of countries mainly due to the Commonwealth. And I think what this show has done is peel back a lot of layers [about the royal family] and show a lot of stories that people didn’t remember or know about. Although the royal family had a lot of problems, a lot of their problems are exactly the same as ours and so people may feel very akin to it. And I think the show boosted the popularity of the royal family, quite a bit.

Giants transition

First off, let’s make one thing clear: No matter how the Giants may have handled the demotion of longtime quarterback Eli Manning, they couldn’t have escaped the public backlash. The two-time Super Bowl champion was simply too revered a figure, and the franchise’s decision to bench him would invariably have been subject to second-guessing regardless of cause and circumstance.

That said, it’s also clear that the Giants went about their business in the worst possible way. They were reeling from a lost season, and they had reason to move on from Manning, whose performances at center of late left a lot to be desired. However, instead of easing in third-round pick Davis Webb, not just this season, but, more rationally, through the next two, they saw fit to accelerate their timetable by: 1) telling, out of the blue, the QB who gave them rings at the expense of the high and mighty Patriots that his time was up; and 2) tapping, in the interim, a replacement the friendly neighborhood Jets didn’t want to have a part of anymore.

For all the perceived positives Geno Smith brings, there was to be no resurrecting the Giants’ 2017 season, so it’s evident even from casual observers that the assessment of Webb’s progress was the objective. So why didn’t they go about it differently, and early enough? Instead, they wanted to have the proverbial cake, and eat it, too. They thought Manning would go along with the idea of continuing a league-leading streak of consecutive starts, only to hand off the pigskin at the end of two quarters.

Under the circumstances, Manning was right to say no. He knew the move would cheapen the value of the record, just as he knew he was being set up to deodorize a tenuous handoff. Transitions are never easy, and are hardly ever smooth. The annals of the National Football League are littered with examples of veteran stars chafing at the notion that they’re expendable, with the very ego that spurred their success preventing them from accepting their plight. Still, it’s one thing to implement a change, and quite another to do so without careful thought.

And so Manning will be leaving the limelight with bitterness he shouldn’t have, and under conditions he needn’t experience. Meanwhile, the Giants are left to justify their sullying of the rep of a surefire Hall-of-Famer, even as their immediate future will most certainly remain murky. Which is just too bad, because they — and, needless to say, the fans — deserve better. Much, much better.

 

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.

Investors look to tax bill progress in hunt for leads

INVESTORS will primarily be looking at the possible passage of the tax reform package as the major catalyst for the market this month, after a loss in November.

The Philippine Stock Exchange index (PSEi) ended at 8,254.03 on Nov. 29, the last trading day of November, and recorded a loss of 1.33% for the month. The highest close for the month was 8,523.07 recorded on Nov. 6.

Corporate earnings lifted the market during selected trading days of the month, but investors mostly took profits despite good third-quarter gross domestic product results.

Metropolitan Bank & Trust Co. had the highest return in the blue-chip category, while Semirara Mining Corp. led losers, down by 15.29%

“The reconciliation of the tax reform bill version of the Senate and the House of Representatives will be one of the focus of local investors as the current admin is expected to sign it into law this month. Aside to this major catalyst, window dressing may also push our index higher, so, I’m guessing a rally towards 8,800-9,000 area before end of the year is highly likely,” Jervin S. de Celis, equities trader at Timson Securities, Inc., said in a text message.

The Senate earlier this week approved its version of the tax reform package, and a bicameral session is expected this month for the Senate and the House of Representatives to reconcile their versions and target enactment before the year ends.

Financial markets were closed yesterday in observance of Bonifacio day.

Meanwhile, other Southeast Asian stock markets were downcast on Thursday as broader Asian equities fell sharply on a selloff in technology heavyweights, with Singapore falling the most.

MSCI’s broadest index of Asia-Pacific shares outside Japan retreated over 1% after US technology stocks posted steep losses overnight as investors shifted to financials and other sectors that could potentially benefit from lower regulation and taxes, as well as higher interest rates.

China economic data showing an unexpected pickup in factory activity in November had little impact on Asian shares.

Singapore shares fell as much as 0.6% to their lowest in a week, weighed down by industrial and financial stocks. DBS Group Holdings and Jardine Matheson Holdings Ltd were the top drags on the index, inching down 1.1% and 1.7%, respectively.

Malaysian stocks held steady as losses in consumer discretionary stocks offset an about 30% jump in Sime Darby Bhd after the company’s plantation and property  units debuted on the Jakarta Stock Exchange. Trading in Sime Darby Bhd was based on the reference price provided by the company of 1.85 ringgit per share.

Indonesian shares slipped 0.3% as consumer staples and telecom stocks weighed, with the index of the country’s 45 most liquid stocks down 0.3%.

Unilever Indonesia Tbk PT, a unit of Unilever Plc, and United Tractors Tbk PT fell about 1.2% and 2.1%, respectively. — with Reuters

Now Showing (December 1, 2017)

Murder on the Orient Express

THE FILM adaptation of Agatha Christie’s thriller focuses on 13 strangers who are all suspects in a murder. Belgian detective Hercule Poirot is tasked to solve the case. Kenneth Branagh directs and stars in the film, along with Tom Bateman, Daisy Ridley, Johnny Depp, Michelle Pfeiffer, Judi Dench, Josh Gad, and Penelope Cruz. Empire’s Will Lawrence remarks, “There are strong emotions on display, the film exploring collective and individual senses of grief and loss, and there are many fine performances.” MTRCB Rating: PG

Wonder

BASED on R.J. Palacio’s New York Times best-selling novel of the same title, Wonder tells the story of August Pullman who was born with a facial deformity. Entering school for the first time as a fifth-grader after being home-schooled, he is challenged to interact with other kids and stand up to bullies. Directed by Stephen Chbosky, it stars Julia Roberts, Owen Wilson, Jacob Tremblay, Izabela Vidovic, Mandy Patinkin, and Daveed Diggs. Rolling Stone’s Peter Travers writes, “Though Auggie stays at the center of the plot, Chbosky lets each character claim his or her own section of the film. The varied perspectives give dimension to a story that could have hammered away relentlessly at the same theme.” MTRCB Rating: PG

Daddy’s Home 2

STEPDADS Dusty and Brad collaborate to celebrate the holidays with their kids but things might just turn chaotic when Dusty’s old-school and macho father and Brad’s ultra-affectionate and emotional dad arrive unexpectedly. Directed by Sean Anders, the film stars Mark Wahlberg, Will Ferrell, Mel Gibson, and John Lithgow. Variety’s Owen Gleiberman remarks, “You will feel good, for half a minute. The same way that you’ll chuckle, for a moment. That’s what happens when a Hollywood comedy is a Christmas present that’s all package.” MTRCB Rating: PG

Midnight Runners


AFTER two Korean National Police University students witness a kidnapping, they team up to investigate. Directed by Kim Joo-hwan, the film stars Kang Ha-neul, Park Ha-sun, and Park Seo-joon. James Marsh of the South China Morning Post writes, “Midnight Runners manages to be critical of the police, without demonizing the entire force. It also tackles some pressing social issues, without making grown men cry about it.” MTRCB Rating: PG

Barbi D’ Wonderwall Beki!

A CLOSETED gay working as a bodyguard, Billy Bayagan tries to prove his worth to his family of strict and conservative policemen. Directed by Tony Y. Reyes, it stars Paolo Ballesteros, Joey de Leon, Joey Marquez, Benjie Paras, Bianca Umali, Ejay Falcon, and Kim Domingo. MTRCB Rating: PG

Unexpectedly Yours

PATTY and Cocoy reunite after 30 years when start to organize their high school reunion. Cocoy and his nephew, Jason try to woo Patty and her daughter, Yanni. Directed by Cathy Garcia-Molina, it stars Sharon Cuneta, Robin Padilla, Julia Barretto, and Joshua Garcia. MTRCB Rating: PG

Your Weekend Guide (December 1, 2017)

PETA Theater presents Ang Buhay ni Galileo, Dec. 1, 6:30 p.m., at the Raja Sulayman Theater, Fort Santiago, Intramuros, Manila. The play is a Filipino translation of Bertolt Brecht play about one of the more controversial astronomers of the Renaissance. Directed by Rody Vera, it features Joel Lamangan, Upeng Galang Fernandez, and Randy Villarama. Tickets (P600) are available at TicketWorld (www.ticketworld.com.ph, 891-9999).

RESORTS World Manila and W Pagemanx Exclusive Management presents TYGA — Live in Manila on Dec. 1, 9 p.m., at House Manila, Remington Hotel Resorts World Manila. Tickets to the rapper’s show are P3,500. Patrons must be at least 18 years old. Tickets are available at TicketWorld (www.ticketworld.com.ph, 891-9999).

THE Cultural Center of the Philippines (CCP) and Ballet Philippines presents Edna Vida’s The Nutcracker, a retelling of the holiday classic set in the Philippines during the Spanish colonial era. It runs from Dec. 1 to 10 at the CCP Main Theater. Tickets available at TicketWorld (www.ticketworld.com.ph, 891-9999).

COMIC Jon Santos stars in Laugh Wins on Dec. 2, 3 p.m. and 8 p.m., at the Marriott Grand Ballroom, Resorts World Manila. Directed by Joaquin Valdes, the show features special guests Mitch Valdes and Isprikitik Improv. Tickets available at TicketWorld (www.ticketworld.com.ph, 891-9999).

BALLET MANILA presents the ballet Snow White on Dec. 2 and 3 at the Aliw Theater, Cultural Center of the Phlippines Complex. Choreographed by Lisa Macuja-Elizalde. Tickets are available at TicketWorld (www.ticketworld.com.ph, 891-9999).

ATLANTIS Theatrical Entertainment Group presents Tony award-winning Matilda the Musical, adapted from Roald Dahl’s children’s novel of the same name about a little girl with extraordinary powers who finds refuge from her abusive parents and her school’s cruel headmistress in library books. The show runs until Dec. 10 at the Meralco Theater, Ortigas Ave., Pasig City. Tickets are available at TicketWorld (www.ticketworld.com.ph, 891-9999).

REPERTORY Philippines Children’s Theater presents the musical Beauty and the Beast at the Onstage Theater in Greenbelt 1, Ayala Center, Makati City until Dec. 14. Joy Virata directs the classic story. Tickets are available at TicketWorld (www.ticketworld.com.ph, 891-9999).

THE 1960s celebration of drugs, sex, love, and peace, Hair — presented by Repertory Philippines — has performances until Dec. 17 at the Onstage Theater, Greenbelt 1, Ayala Center, Makati City. The musical is directed by Chris Millado and choreographed by PJ Rebulida. Tickets are available at TicketWorld (www.ticketworld.com.ph, 891-9999).

MEGAWORLD LIFESTYLE malls have set up Christmas Playville gingerbread areas which will be up until Jan. 4. Mascot characters meet-and-greet are scheduled on December at 2 p.m., 4 p.m., and 6 p.m., at Eight Forbes Town, Forbes Town; Uptown Mall in Uptown Bonifacio; and Newport Mall at Resorts World Manila. The mascots include Thomas and Friends, Tobot, DCSHG, Ben 10, PPG, Shopkins, and more.

IN QUEZON City, the Vertis North mall’s façade shines with a giant cathedral covered with lights for the holidays daily from 6 p.m. to 10 p.m. until Jan. 8.

MEGAWORLD’S Venice Grand Canal brings back the Parata Di Natale or Grand Christmas Parade with Venetian masquerades and mimes, a marching band, and popular mascots from children’s shows. The parade will run every Saturday at 3 p.m. and 5 p.m. Kids get to meet popular characters like Robo Carpoli, PJ Masks, Pokemon, Barbie, Peppa Pig, the Silvanian Families and more. Meanwhile, a Venetian Christmas Concierto will be held at the Ponte de Amore Bridge every Saturday and Sunday at 6 p.m. There are also Christmas Fairs daily, plus a fireworks show over the Grand Canal every weekend at 7 p.m. Christmas Bear displays for photo opportunities are located near the Christmas Tree and around the mall. For more information, call the Venice Grand Canal Concierge at 624-1971, 0917-512-9934 or veniceconcierge@megaworld-lifestyle.com).

RESORTS WORLD MANILA’s Christmas offerings for this season include concerts, a play, and Instagrammable attractions. Adorned with 100,000 multi-colored LED bulbs, Lumina is a tunnel of lights connecting Newport Mall and Maxims Hotel. Complementing the 110-meter Lumina is the giant Christmas tree at The Plaza, Newport Mall. Taking the “Fanstasy Funfair” theme for its annual Grand Fiesta Manila celebrations, RWM has announced that its show, Chitty Chitty Bang Bang has been extended until February 2018. Other shows at the Newport Performing Arts Theater are Bamboo’s The Oven Tour (With a Twist of Christmas) on Dec. 7; Dingdong Avanzado and Jessa Zaragoza’s 20/30 on Dec. 8; Manila Sound with Hotdog on Dec. 13, and Aegis’s Ating Sayawin on Dec. 20. The party will culminate on Dec. 31 with the annual New Year’s Eve countdown featuring Lani Misalucha, Arnel Pineda, Darren Espanto, Giselle Sanchez, and Jon Santos.

CHILDREN can try their hand at decorating a gingerbread house among other activities at The Pen’s Santa’s Workshop.

THE PENINSULA Manila’s annual family holiday classes called Santa’s Workshop offer a chance to decorate gingerbread houses, paint Paete taka horses, and create plush Christmas tree ornaments. There will be two sessions on Dec. 2, at 9 a.m. to 11 a.m. and 2 p.m. to 4 p.m. Prices are P2,000++ for one child and one accompanying adult with an additional P1,000++ for every additional companion. At the end of the Santa’s Workshop session everyone gets to bring home their masterpieces. Children also get to enjoy all the popcorn, cookies, cakes and hot chocolate they want while there will be gluehwein for the adults. For inquiries, call 887 2888, extension 6694 (Restaurant Reservations), 7410 (Festive Desk), e-mail diningpmn@peninsula.com or visit peninsula.com.

DEC. 3 will see four top chefs working in tandem in an exclusive eight hands six-course Auro Chocolate-inspired benefit dinner at The Peninsula Manila’s Old Manila restaurant, featuring the hotel’s chef de cuisine Allan Briones and executive pastry Chef Xavier Castello, and chefs Josh Boutwood of The Test Kitchen and Chele Gonzalez of Gallery Vask. The Beyond Bean-to-Bar: Chocolate-Inspired Dinner is priced at P5,000 where dinner guests get to adopt an organically grown Criollo cacao tree in Davao and help a small community of retired marines that have traded in their arms to farm cacao trees. For details, call 887-2888, extension 6694 (Restaurant Reservations), e-mail diningpmn@peninsula.com.

PRESENTE is a pop-up event by ArteFino that focuses on gift giving that supports and promotes Filipino craftsmanship. On offer are Philippine artisanal products from over 30 brands. The event will be co-presented by Power Plant Mall in celebration of “Christmas at Rockwell.” The collection also covers a broad price range to ensure that there is something for every budget. Gift delivery services will also be offered during the pop-up. Presente: A Holiday Pop-up by ArteFino runs from Dec. 1-31, at the R2 Level of Power Plant Mall. Proceeds will go to the HeArteFino Development Program.

ADB plans to increase focus on Mindanao, LGU financing reform

THE Asian Development Bank (ADB) said it plans to increase its focus on Mindanao, particularly in the areas of regional connectivity and enhancing financing capabilities for local government units (LGUs), as it firms up the terms of its new medium-term partnership program with the Philippines.

In a review of the ADB’s engagement with the Philippines, the bank said the 2017-2020 Country Partnership Strategy also focuses on aligning its programs with the Philippine Development Plan.

“Given Mindanao’s poverty and general lack of infrastructure and regional connectivity, there is a strong rationale for ADB to scale up its operations there,” the bank said, while noting that such a move would sync with the government’s increased focus on the south. It said that the ADB could also establish a liaison office in Mindanao.

Enhanced operations in Mindanao will aid regional integration with the Association of Southeast Asian Nations (ASEAN), especially the Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area, to which Mindanao is the country’s nominated gateway.

“Mindanao has great potential for regional cooperation and integration with Brunei Darussalam, Indonesia and Malaysia, given its geographical proximity to these countries and historic links rooted in culture and religion,” it added.

The bank said it plans to focus its efforts on developing LGU finance, particularly a municipal bond market.

Between 2011 and 2016, the ADB’s total approved portfolio was $4.78 billion, almost double the planned investment for the period. Sixteen projects accounted for loans worth $4.317 billion, and 11 were grants amounting to $47 million. There were also 37 technical assistance projects totaling $73 million, while nonsovereign operations consisted of four projects totaling $342 million.

Of the total, 50% were in public sector management, 12% in education, 11% in agriculture and natural resources, 11% in transportation, 8% in energy, and 8% in the water sector and other municipal infrastructure and services.

In terms of the projects’ relevance to the country’s needs, the ADB assessed them as “highly relevant,” and validated program performance as “efficient,” as the processing time of all loans from approval to effectivity averaged 6.9 months, slightly below the bank average of  seven months.

However, the review found program performance “less than effective,” due to shortfalls in achieving project and program outputs and outcomes, design and monitoring frameworks, compared with targets.

It added that the development impact of the partnership program was “less than satisfactory.”

“In terms of achievement of the government’s overall targets, only three targets out of six are likely to be achieved or exceeded,” which include improvements in the human development index, reduction in the fiscal deficit, and consolidation of the public-sector deficit.

“Achievements are lagging in terms of GDP (gross domestic product) growth, rate of growth of employment, and poverty incidence.” — Elijah Joseph C. Tubayan

Former officers convicted in ‘Dirty War’ trial

BUENOS AIRES — Former Argentine navy captain Alfredo Astiz, known as the “Angel of Death,” received life in prison Wednesday for crimes committed at a notorious torture center during the country’s 1976-1983 military junta.

He, along with ex-navy officer Jorge Acosta, were two of 54 accused in the massive trial probing nearly 800 human rights abuses carried out at ESMA, a former Argentine naval school that was one of the regime’s most notorious torture centers.

Both men had already been sentenced to life imprisonment in prior trials.

In total, 29 people were handed life in prison, while another 19 got sentences ranging from eight to 25 years in prison. Six people were acquitted.

Some 30,000 people were kidnapped, tortured and killed in what became known as Argentina’s “Dirty War,” according to rights groups. Victims included Montonero guerrillas, labor union leaders, students, leftist sympathizers and in some instance, their relatives and friends.

The trial is part of an effort to probe torture and crimes against humanity committed at the ESMA Naval Mechanics School.

Only a fraction of the estimated 5,000 regime opponents survived being sent there.

This is the third trial for human rights violations committed at ESMA, and some 800 witnesses have given court testimony.

Since the process began in November 2012, 11 of the accused have died, and three were deemed too ill to face trial. — AFP

For Mask of Truth, story is both its greatest asset and greatest failing

By Alexander O. Cuaycong

FOR THE REVIEW of the prequel Utawarerumono: Mask of Deception, please refer to this link: https://goo.gl/zmGgHu

Released in Japan in September 2016 and translated to English for Western markets the year after, Utawarerumono: Mask of Truth (MoT) picks up from where Utawarerumono: Mask of Deception (MoD) left off.

In following the exploits of main protagonist Haku in his adopted homeland of Yamato, it sees Osthor, one of his companions and the Royal General of the Right, killed in battle. He then takes it upon himself to continue Osthor’s struggle, even going so far as to take advantage of their similarities in appearance in order to assume the latter’s identity.

From MoT’s start evolves a surprisingly interesting narrative, one that those new to the series, and perhaps even to visual novels (VNs), may well fail to notice. Osthor is hardworking, strong-willed, and idealistic, which is to say Haku’s complete opposite, compelling him to suppress his personality to keep his deception going.

This, even as he learns firsthand how much influence the man he is impersonating wields, and, likewise, how important he himself was to people who believe it was he who fell in battle.

Considering the expansive backdrop, framed with falling empires, large-scale battles and powerful enemies and allies revealing themselves chapter-by-chapter, MoT delves into an intriguing premise, where Haku is not just dealing with inner conflict, but also with the actual demons that are plaguing his land.

This juxtaposition propels the plot and keeps the gamer/reader going, as Haku is pressed into conflict after conflict while struggling to keep his identity secret. In this sense MoT’s greatest asset — its story line — also underscores its biggest failing. It relies too much on information from the prequel to move forward.

Granted, the game’s prologue sequence does try to fill the gaps, but a large part of what makes it gripping is undermined by the inordinate amount of time gamers bumble along and try to glean the backstory harking to MoD from text alone. It certainly adds unnecessary length to what is already a protracted reading; clocking in at around 60 hours, MoT can be a text-dependent chore even for avid VN fans. In short, it’s as much of an acquired taste as its older sibling, especially to those who aren’t predisposed to Utawarerumono’s overly dramatic pacing.

Occasionally, MoT’s story is broken up by “battles,” though, as before, they seem to be just a way to break up the monotony more than anything else. Featuring tactical RPG-esque mechanics, the fights feel more like light bonuses than apt challenges, as they are neither particularly hard nor absorbing enough to spur strong positive sentiments. Attacks can feel flat and generic, and battles unsatisfying as a whole, even with its QTE (quick time event)-like segments mid-swing. That said, the combat system is serviceable, and Munechika’s Trials, its version of a free battle/quest system, does add in a bit of variety when players get tired of reading.

Overall, MoT holds its own when compared to other VNs. Fights can be a bit boring, but, at worst, provide welcome side-activities from time to time. It doesn’t break new ground, but it at least stays faithful to the Utawarerumono series and provides a good jump-off point for the next release.

For all its emphasis on fan-service and overreliance on MoD, it’s a good pickup for those partial to VNs in general and those who love the franchise in particular.

Video Game Review

Utawarerumono: Mask of Truth
PlayStation 4

THE GOOD

• A VN lover’s haven, with tons of dialogue and voiced text

• Outstanding music and sound design C

• Compelling premise and character development

THE BAD

• Combat mechanics could be better

• Overreliance on MoD to get the ball rolling

• Segments of the story tend to drag on

RATING: 7/10

Restarting the engine

When being suddenly unemployed, whether through mandatory retirement or a company being acquired by what seems at first to be a friendly force, applying to a new company for the same job is not always possible. The paradox on job hunting states that one is given a good offer, when he’s not even looking for one. If you’re happy where you are, you become as an object of poaching.

If a career turns out badly, it’s time to look for a new one.

With early retirement, say before age 50, thoughts turn to alternative occupations. Career counselors urge their clients to “reinvent themselves” without needing surgery or a new name. If former business associates or competitors don’t pick up calls on job openings, there is a need to look for a different set of strangers.

A second career entails a shift in goal setting and office hours, and maybe even working out of a low-rent office, like the unused den of the house. A totally different occupation, though possibly related in terms of skills set, needs to generate income of some sort, not coming from a family member or the sale of a property.

Hobbies and sidelines are always good places to look for alternative careers. The mantra of following your passion, when not referring to unwelcome advances on unwilling objects, seems the best place to start. Many a successful catering business started off from serving good food at parties. Sometimes, however, collection is a problem.

Do you like karaoke singing, especially with beer and raucous company? Okay, that particular bee in the bonnet may be left buzzing. Sure you like to belt out “Bridge over Troubled Waters,” but is there a market for ear-splitting wails, and going one octave lower for the chorus?

Executives who exit from high-paying jobs try looking for another one in a related field and find themselves brushed off as “over-qualified,” a code phrase for too old or difficult to place in a box. High-flying stars in entertainment that lose their jobs due to low ratings are game for auditioning for even minor roles. The Hollywood maxim from “Sunset Boulevard” about an aging star is often rechanneled — there are no minor roles, just minor talents. And true enough, the minor talents get the small roles at smaller fees.

The prospect of a second career stumps the executive used to a semi-monthly paycheck and a company car with free parking. His initial ideas are unimaginative. Going into his own business after all his life working for a company that has a department dealing with business permits and fire inspectors can be unsettling. There is no one to delegate anything to.

Obvious second careers which require no investment like teaching (pays too little) and consulting (no clients willing to pay more than lunch for free advice) are temporary.

Second careers are expected to pay less than the first ones. They also involve lower stress levels, flexible hours, and more socials. Commute time is shorter, sometimes requiring only a staircase from the bedroom to the home office. Office attire can also double as pajamas. Many of the adjustments involved in a second career are psychological. They revolve around having less money and status, but more enjoyment and free time. When asked by well-meaning (or gloating friends) “what keeps you occupied”, it’s best to be vague and give a short answer — venture capital.

The phenomenon of doctors re-training for second careers as nurses is special. This is change required by a desire to read a different set of newspapers in another country. Still, this shift entails a second career with lower status but possibly greater employment opportunities.

Second careers can have the makings of fantasy — what one has always wanted to be as a child but never got around to becoming. This wish list is now referred to as things to do before kicking the bucket.

There need not be the desperate search for something else to do for money. There’s always the option of simply ending the first career and leaving it at that. Retirement is not bad. It’s a chance to dip into the savings and stock portfolio, restart the engine… and drive to the beach.

 

A. R. Samson is chair and CEO of Touch DDB.

ar.samson@yahoo.com

1...12,85112,85212,853...13,744Page 12,852 of 13,744
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin Twitter Youtube