Facebook Instagram Linkedin Twitter Youtube
Home Blog Page 1536

PLDT teams up with Hong Kong-based HGC to boost data center connectivity

EPLDT.COM

PLDT Inc., through its unit VITRO, Inc., has tapped HGC Global Communications Ltd. to help enhance data center connectivity in the Philippines, the Pangilinan-led telecommunications company said on Monday.

“This strategic partnership will unlock new possibilities for VITRO and further expand our reach through HGC’s global network,” VITRO Chief Commercial Officer Gary F. Ignacio said in a statement.

Headquartered in Hong Kong, HGC is a fully-fledged fixed-line operator and ICT service provider.

The tie-up between HGC and VITRO — a subsidiary of ePLDT, Inc. — aims to provide digital infrastructure to meet the growing demand for faster and more efficient data center connectivity.

The partnership will also expand HGC’s services to VITRO Sta. Rosa, ePLDT’s 11th data center, by providing connectivity and telecommunications services to hyperscalers and enterprises co-locating at VITRO Sta. Rosa.

“This partnership creates an ecosystem that will enable HGC to further expand its data center connectivity and reinforce its position in the Philippines’ rapidly growing technology and digital infrastructure landscape,” the company said.

To date, PLDT, through its subsidiary ePLDT, has 11 data centers, including the 50-megawatt hyperscale data center in Sta. Rosa, Laguna.

In August, its parent firm said that it hopes to conclude the sale of ePLDT to a new foreign entity for more than $1 billion after dropping its negotiation with Japan’s Nippon Telegraph and Telephone.

At the local bourse on Monday, shares in PLDT fell by P8, or 0.53%, to close at P1,502 apiece.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Ashley Erika O. Jose

Central Luzon’s real estate potential: Tilted to the upside

ALFRED VALENCIA

CENTRAL LUZON remains a major economic center outside of Metro Manila. Its property market has substantially evolved over the past few years with national players seizing opportunities by aggressively land banking in the region. We see tremendous upside potential for its real estate market. Outside of residential, we see opportunities for office and industrial sectors.  This dynamism should be supported by vital public projects due to be implemented beyond President Ferdinand R. Marcos’ term.

Comprising of Pampanga, Bulacan, Tarlac, Zambales, Bataan, Nueva Ecija, and Aurora, Central Luzon is perhaps best known for its excellent culinary tradition; its vast expanse of farmlands, which earned it the nickname “Rice Granary of the Philippines”; the secluded coves of Zambales and Bataan, which are popular weekend destinations; and the adventure spots of Baler and the rest of Aurora. But aside from these, Central Luzon is also an economically buoyant regional hub with significant contributions to the national economy.

Central Luzon accounted for 13% of total overseas Filipino workers deployed in 2022. In our view, this is likely to ensure that the region’s economy will continue to be sustained by remittances from Filipinos working abroad.  What’s also interesting is that the central Luzon region accounted for 13% of residential loans granted by Philippine banks in 2023, up from 8% in 2019. This indicates continued rise in central Luzon residents’ appetite for residential units whether for end use or investment.

CENTRAL LUZON  ATTRACTS LARGE BPO PLAYERS
Talent availability remains to be the top consideration of outsourcing firms. Bulacan, Pampanga, and Tarlac produce about 15,000 graduates annually, according to the Commission on Higher Education.  This makes central Luzon a fertile ground for the business process outsourcing (BPO) expansion outside of the capital region.

Latest Colliers Philippines data showed that areas outside of the national capital region covered 21% of office space deals closed in the first half of 2024. This translates to about 122,000 square meters (sq.m.) of office space transactions during the period. Metro Manila accounted for the remaining 79% or about 459,000 sq.m. of office space deals. Pampanga remains one of the most active after recording 36,000 sq.m. of office space transactions during the period. Some of the notable BPO companies already in Pampanga include iQor, Asurion, Concentrix, and Cloudstaff. Other major outsourcing players in central Luzon include Foundever in Tarlac, TaskUs in Bulacan, and Emapta in Benguet.

Pampanga continues to dominate in terms of supply of high-quality office space and is ready to accommodate BPO companies that are on expansion mode.  From 2025 to 2026, among the buildings due to be completed are Four and Five West Aeropark campuses, 5 Workplus by Filinvest Land, and Pasudeco Tower 1 by Megaworld.

A COMPETITIVE INDUSTRIAL HUB
The Department of Trade and Industry is actively promoting Central Luzon as a manufacturing and logistics hub, highlighting growth opportunities in Pampanga, Bataan, and Tarlac. For instance, foreign industrial locators have expressed willingness to invest in New Clark City. These businesses are involved in logistics, e-commerce, light manufacturing, and data center operations. In our opinion, the development of New Clark City (NCC) in Capas will likely spur business opportunities in Central Luzon. The NCC is being primed as one of the major business districts north of Metro Manila. This also shows that industrial players have options outside of Clark Freeport in Pampanga. This should result in further diversification of central Luzon’s industrial landscape.

Colliers believes that the operation of the newly modernized  Clark International Airport should further raise the attractiveness of Central Luzon for more manufacturing and logistics investments. The development of the Manila-Clark Railway should also spur growth in the region. A cargo railway should further stoke central Luzon’s competitiveness as an industrial zone in Luzon.

PUMP-PRIMING CENTRAL LUZON  PROPERTY THRU INCLUSIVE INFRA
Bataan-Cavite Interlink Bridge will be built over Manila Bay and will reduce travel time between Bataan and Cavite from five hours to just 30 minutes once completed. Construction is expected to start in 2025 with full operations projected beyond 2028. The Bulacan International Airport is a 2,500-hectare, P736 billion ($15.3 billion) aviation hub with three modern passenger terminals, four runways, and eight taxiways, which will serve as an alternative airport to help decongest the Ninoy Aquino International Airport. The airport project is expected to be completed by the end of 2028. Meanwhile, Metro Rail Transit Line 7 (MRT-7) aims to cut travel time from Quezon City to Bulacan from two to three hours to 35 minutes. MRT-7 can accommodate 300,000 passengers during its first year of operation and may reach 850,000 in its 12th year. Another project that will complement these is the Central Luzon Link Expressway,  a 66.4-kilometer road project that will connect Tarlac City and San Jose, Nueva Ecija. As I previously stressed, these should further raise land and property prices in the region.

Central Luzon is primed for more property investments and these should excite residents and investors in the years to come!

 

Joey Roi Bondoc is the director and head of Research of Colliers Philippines.

joey.bondoc@colliers.com

PBCom looks to raise at least P2 billion from maiden bond issuance

BW FILE PHOTO

PHILIPPINE BANK of Communications (PBCom) is looking to raise at least P2 billion though its first offering of peso-denominated bonds, it said on Monday.

“Philippine Bank of Communications announces the public offering of its maiden peso bond issuance, with an initial size of P2.0 billion with an oversubscription option,” the lender said in a disclosure to the stock exchange.

“Proceeds from this bond issuance will be utilized for general corporate purposes, including refinancing debt obligations, diversifying funding sources and supporting loan growth,” PBCom said.

The Series A bonds have a tenor of one-and-a-half years and carry a fixed interest rate of 6.076% per annum.

They will be issued out of PBCom’s P15-billion bond program, which was approved by its board in March.

The bond offer period began on Monday and is set to run until Oct. 28, unless ended earlier by the bank.

The Series A notes are expected to be issued and listed on the Philippine Dealing & Exchange Corp. on Nov. 5, PBCom said.

PBCom appointed ING Bank N.V. Manila Branch as the sole arranger and bookrunner for the transaction. ING Bank will also serve as a selling agent for the bonds along with PBCom.

Development Bank of the Philippines’ Trust Banking Group was appointed as trustee for the offering.

PBCom’s net income grew by 16.08% year on year to P532.3 million in the second quarter amid higher revenues.

This brought its net earnings for the first half to P1.03 billion, up by 2.85% from the same period in 2023.

PBCom’s shares were last traded on the stock exchange on Oct. 10, closing at P15.20 each. — A.M.C. Sy

NEA, Batelec, Nordeco and other electric cooperatives

One of the more wasteful agencies in the government, one that needs an endless subsidy from Philippine taxpayers, is the National Electrification Administration (NEA).

Consider these points:

1. In 2020 alone, taxpayers nationwide sent P12.9 billion to NEA, then another P2 to P3 billion/year from 2021 to 2025. The NEA subsidy, on average, is larger than the annual budget of its mother agency, the Department of Energy (DoE), and at least three times the annual budget of the Energy Regulatory Commission (see the table).

2. The NEA is sending billions in taxpayers’ money to inefficient, if not failing, electric cooperatives (ECs) which are in need of capital expenditures (capex) or working capital, short-term (S-T) credit, etc. See these reports from the NEA website itself: “NEA Loans to ECs Reached P1.2 Billion in 2022” (Feb. 18, 2023), “NEA Loans Extended to ECs Exceed P1-Billion for 2023” (Jan. 11, 2024), “27 Electric Cooperatives Access Loans Worth P1.28-Billion — NEA” (Sept. 26, 2024).

In 2022, 35 ECs used up P1.2 billion of the NEA’s subsidy — P561 million for capex loans, P506 million for calamity loans, and P10 million for the S-T credit facility. In 2023, 28 ECs used up P1 billion plus of the subsidy — P475 million for capex loans, P465 million for working capital, and P63 million for S-T credit. And this year, up until August, 27 ECs used up P1.28 billion — P780 million for capex loans, P482 million for working capital, P13 million in calamity loans.

3. The NEA is a political institution that gives political patronage to ECs, which are allowed to incur system losses of up to 12% which are passed on to the consumers while private distribution utilities (DUs) are capped at 6% in system losses. That 6% difference between the two could be hundreds of billions of pesos yearly in additional payments by consumers in the provinces.

There is no “market failure” in electricity distribution to justify this continued patronage. I have argued in the past for the abolition of the NEA someday, and that all ECs should become corporations, monitored by the Securities and Exchange Commission (SEC) and not entitled to any taxpayer subsidy.

TWO CASE STUDIES OF INEFFICIENCIES
Let us look at the Batangas Electric Cooperative, Inc. (Batelec) I and II.

Consider the Ganire sa Batangas Facebook page which listed regular blackouts by Batelec 1 on Oct. 8, 11 p.m. to 3 a.m.; Oct. 9, 6 a.m. to 10 p.m. in Malvar; Oct. 11, 9 a.m. to 5 p.m.; and on Oct. 13, from 7 a.m. to 7 p.m.

I read a statement, “Batangas Mayors issue resolution, officially back Meralco-Batelec I joint venture.” It mentions many mayor-members of The League of Municipalities of the Philippines (LMP) — Batangas Chapter. They passed and issued a resolution supporting a joint venture between Meralco and the EC to help stabilize the power supply in the area. Signatories include the mayors of Agoncillo (Cinderella V. Reyes), Nasugbu (Antonio Jose A. Barcelon), San Luis (Oscarlito M. Hernandez), Calaca (Sofronio Leonardo C. Ona, Jr.), Calatagan (Peter Oliver M. Palacio), Sta. Teresita (Norberto A. Segunial), Taal (Fulgencio I. Mercado), Lian (Joseph V. Peji), and Tuy (Jose Jecerell C. Cerrado). Some 72% of the population of the Batelec I franchise area also support improvement of the power supply and the avoidance of frequent and prolonged blackouts.

The mayors declared that they “urge Batelec I’s management and Board of Directors to actively engage with Meralco executives and representatives to explore potential partnership opportunities, ensuring that such collaboration prioritizes the protection of employment for current Batelec I workers, enhance electric services and commit to providing transparent and regular updates on the progress of partnership.”

Meralco Senior Vice-President and Chief External and Government Affairs Officer, Arnel Casanova, said that “We welcome this development. This is an acknowledgment that we are one with LMP-Batangas in the mission to provide reliable and affordable electricity for the consumers. It is urgent and important that our partnership with Batelec I is equally supported by the stakeholders so we can all move forward with credible solutions. Meralco is positioned to lend technical expertise and infuse capital to Batelec I to jointly provide better service to Batanguenos.”

I also saw a Facebook video post of the chairman of the Batangas Forum and former Tanauan mayor, Francisco Lirio. He lamented that in the 47 years of Batelec presence in the province, there is little and very slow improvement in its services, saying that the problems before are still the problems today, and that he welcomes a joint venture between Meralco and Batelec II.

Rep. Joey Salceda, Chairman of the House Ways and Means Committee, emphasized in a statement that “Meralco provides the most reliable service among all major electric cooperatives and distribution utilities (EC/DUs), with outages suffered by the average consumer totaling to mere minutes in an entire year, versus days’ or weeks’ worth of blackouts for other neighboring EC/DUs.”

Good luck, people and local leaders of Batangas. Your province is rich — it had a provincial GDP of P671 billion in 2022 which is among the top 10 in the Philippines, but it is lower than Laguna’s P1.023 trillion and Cavite’s P780 billion. The whole of Cavite and portions of Laguna are under the Meralco franchise area. A good power supply at competitive prices can spur more growth, and more businesses and jobs, in a province.

Then there is the Northern Davao Electric Cooperative (Nordeco).

Last week at the House of Representatives Committee on Legislative Franchise, legislators questioned Nordeco over its repeated failure in delivering quality and reliable power to consumers within its franchise area, and opposed the planned expansion of the franchise coverage area of Davao Light and Power Co. which includes 16 municipalities and two cities in Davao del Oro and Davao del Norte.

Pwersa ng Bayaning Atleta Rep. Margarita I. Nograles argued that Nordeco’s arguments were just repeated, and that private DU Davao Light, which has a good track record, is willing to improve the reliability of the power supply to the consumers in the area.

Rep. Gustavo Tambunting of Paranaque’s 2nd District, the panel chairman, said that the committee had given enough time to Nordeco: “so much leeway has been given, and it has been a very transparent and open hearing.”

Rep. Cheeno Miguel Almario of Davao Oriental’s 2nd District corroborated the suffering of the consumers from “terrible electricity.”

Many ECs were formed through the forced merger, consolidation, and nationalization of private DUs. A friend told me that one Visayas-based private energy corporation alone lost two utilities in Ormoc and Jolo, and lost Dipolog and Dumaguete franchises.

Franchising was devolved from being a purely legislative prerogative and was granted to the NEA. Construction and development loans to ECs pre-EPIRA or during the 1990s have interest rates of 3% a year, while operating loans, mostly unpaid bills to NPC, are charged 7%. Plus, they pay no taxes and enjoy subsidies. So, it is ironic that some ECs want to be protected from private DUs when they were created at the expense of the private DUs in the past.

 

Bienvenido S. Oplas, Jr. is the president of Bienvenido S. Oplas, Jr. Research Consultancy Services, and Minimal Government Thinkers. He is an international fellow of the Tholos Foundation.

minimalgovernment@gmail.com

Live Nation wants ticket resale prices capped after Oasis issues

LIVE NATION ENTERTAINMENT, INC. Chief Executive Officer Michael Rapino predicted the British band Oasis will be the biggest concert tour of the year in 2025, but said surging sales of tickets on the secondary market illustrate the need for the US Congress to step in and regulate the industry.

“Multibillions” of robots targeted the tickets for the band’s upcoming tour when they went on sale, Mr. Rapino said. Other ticket sellers immediately began offering seats at higher prices. He urged government officials to regulate the business by capping ticket resale prices at a 20% markup.

“You shouldn’t have a middleman that has nothing invested in the business make any money from it,” he said.

Mr. Rapino spoke on Wednesday evening at the Bloomberg Screentime conference in Los Angeles. His company, the world’s largest concert promoter, is often the target of complaints from fans over the difficulty in getting tickets to shows from artists like Taylor Swift and Bruce Springsteen, as well as the prices of the tickets.

Also adding to Live Nation’s pains, it was sued last year by the US Justice Department and a group of states for allegedly monopolizing the concert ticket business. According to the complaint, the company’s Ticketmaster platform, the largest concert ticket sales site in the US, exercises power over performers, venues and promoters, narrowing the options for artists and forcing consumers to pay more in fees.

Mr. Rapino said he believed the company will win the case, which he attributed to overaggressive antitrust enforcement.

“We’re a 2% margin business, so we must be the dumbest monopoly alive,” Mr. Rapino said. “We give 90-plus percent of the door to the artist.”

Mr. Rapino has served as CEO of Live Nation since 2005, a period when the company acquired other local concert promoters and in 2010 merged with Ticketmaster. Among the music festivals Live Nation oversees are Lollapalooza, Electric Daisy Carnival, and Napa’s BottleRock.

Sales at Live Nation surged as venues reopened after the pandemic and consumers looked to get out and see shows again. Revenue last quarter rose 7% to more than $6 billion and operating income climbed 21% to $466 million. The company said it sees no signs of a slowdown.

Mr. Rapino said he tried to talk the Irish band U2 out of playing at the new Sphere theater in Las Vegas because he was afraid the globe-shaped venue with screens all around would make some concertgoers nauseous.

“I said to Bono, ‘My job isn’t to figure out what can go right. It’s what can go wrong,’” Mr. Rapino said.

Ultimately, the band opened the new venue to multiple sold-out shows.

“We sat there opening night and it was fabulous,” Mr. Rapino said. — Bloomberg

Engkanto Brewery goes solar with AboitizPower

THE NEW SOLAR ENERGY system is expected to generate 130,293 kilowatt-hours (kWh) in its first year of operation and a total of approximately 2.6 million kWh over the 20-year contract term with APx.

ABOITIZPOWER Distributed Renewables, Inc. (APx), a unit of Aboitiz Power Corp. (AboitizPower), has installed 97.09-kilowatt-peak solar panels at the brewing facility of Engkanto Brewery in Carmona, Cavite.

The construction of the solar project started earlier this year, and the system was tested and commissioned by the second quarter of 2024, the company said in a statement on Monday.

“We are happy to help our partner, Engkanto Brewery, create enjoyable drinking experiences and in the process, power their facilities more sustainably,” said James Byron Yu, first vice-president and head of retail of AdventEnergy.

APx is part of the solutions arm of AboitizPower retail unit Advent Energy, Inc.

Engkanto Brewery’s new solar energy system is expected to generate 130,293 kilowatt-hours (kWh) in its first year of operation and a total of approximately 2.6 million kWh over the 20-year contract term with APx.

APx said that the solar panels will provide renewable energy supply to their operations, “significantly reducing the brewery’s reliance on conventional energy sources, decreasing their carbon emissions, and bolstering their commitment to eco-friendly practices.”

“This marks an important chapter in our mission to brew quality beers while supporting environmental sustainability,” said Ian Paradies, founder of Engkanto Brewery.

“We believe that embracing renewable energy is not only beneficial for the environment but also sets an example for other businesses in the craft beer and manufacturing industries,” he added.

The beverage firm was originally in Makati but later moved to its larger facility in Cavite. — Sheldeen Joy Talavera

Architects push Filipino identity in modern builds

COCONUT PALACE, CCP Complex, Pasay City — WIKIMEDIA.ORG

By Edg Adrian A. Eva

ORIGINAL Filipino food like the globally acclaimed adobo opens up a world of flavors, much like how fashion brings to mind iconic Filipino pieces like the Barong and Terno that showcase Filipino heritage and have even been featured at international fashion events. However, Filipino architecture presents a more complex discussion, with some Filipinos questioning whether notable Filipino architecture, like the “Bahay Kubo” and “Bahay na Bato,” stands as uniquely Filipino or merely a blend of external influences.

But a more pressing question surfaced during the event of Ashton Design Dialogues titled “Facades of the Future,” which addressed how modern buildings in business hubs like Makati and Taguig often follow the global trend of sleek glass structures, seemingly leaving behind elements of Filipino identity. For some of the country’s renowned architects, a growing shift toward embracing modern Filipino architecture and incorporating it into new structures is now happening.

“There is such a dynamism and vitality in Philippine design right now, and even clients are responding positively when you would like to make an impact not just on the façade but the entire architecture and materials as well,” Cathy S. Saldaña, a Filipino architect said during the event. Ms. Saldaña is renowned for her expertise in island and resort development. She defines modern Filipino architecture by incorporating modern tropical design elements.

The integration of light and air in architecture enhances the mood through natural light while balancing natural light and artificial ventilation, thereby creating an effective combination of passive cooling technologies and artificial cooling.

“You can also have that outdoor feel that atmosphere of plants, bamboo all that is strongly Filipino. All that is ‘maaliwalas’ into your home or your building,” Ms. Saldaña said. Ms. Saldaña also told BusinessWorld that modern Filipino architecture draws inspiration from nature or other Filipino thumbmarks, reflecting elements such as the embroidered fabric of the Barong, the patterns created by tides on sandy shores — as being an archipelagic country — and even motifs from the Philippine flag.

“We are seeing the uniqueness of facades, the Filipino character already,” she added. The Philippines is gaining increasing attention in the global architectural scene, Ms. Saldaña noted, and this recognition is expected to grow as current design leaders forge change in the architectural landscape and instill a strong commitment among future architects. “Our skylines will be better, we will have more parks, more open spaces, and better urban designs because the stalwarts of design right now are pushing for it strongly,” she said.

Ms. Saldaña said that more needs to be done, such as bolstering education related to Filipino architecture, to ensure that the Filipino identity is preserved and that more Filipinos take pride in their heritage.

Pru Life UK launches new investment-linked product

PRU Life Insurance Corp. of UK Philippines (Pru Life UK) has launched a new investment-linked insurance product available for a limited time, it said on Monday.

“Pru Life UK introduces its latest investment-linked insurance product, PRUMillion Flex. This limited-time offer allows customers to pay premiums over just two years through various payment modes, giving them flexibility to manage their finances more effectively,” the life insurer said in a statement.

“We listened to our customers’ needs for a product that offers short-term payment with potential long-term gains. This inspired us to create PRUMillion Flex. With flexible payment options, high premium allocation, access to expertly-managed funds, and substantial coverage, customers can start building their million coverage in just two years,” Pru Life UK Vice-President and Chief Product Officer Garen U. Dee said.

PRUMillion Flex has a minimum annual premium of P250,000 and gives customers access to a range of managed funds.

“PRUMillion Flex combines flexibility, financial protection, and investment potential… The high premium allocation to the investment component can potentially grow wealth faster,” Pru Life UK said.

The product provides a death benefit coverage of five times the annual premium or 105% of the fund value, whichever is higher.

“Customers can still get 105% of the fund value once the policy reaches maturity at 85 years old as long as the insured is alive,” it said.

Clients can choose to pay monthly, quarterly, semi-annually, or annually.

“PRUMillion Flex is perfect for those who prefer short payment terms and avoid a significant one-time payment; those who are looking for alternative ways to grow their wealth… PRUMillion Flex addresses the growing demand for financial solutions that ensure both wealth security and growth, at a flexible pace,” the insurer added.

Pru Life UK has over 170 branches and general agency offices in the Philippines, with a life insurance agency force of more than 38,000 licensed agents.

It booked a premium income of P46.19 billion and a net income of P4.36 billion in 2023, data from the Insurance Commission showed. — A.M.C. Sy

In response to the letter from the Chinese Embassy

DEAR EDITOR, regarding the letter of the spokesman for the Chinese Embassy in the Philippines to the editor titled “One China principle brooks no challenges and distortions,” we have the following points to respond.

1. The Republic of China was established in 1911 with the dream of creating a democratic republic of the people, by the people and for the people. After the defeat in the civil war in 1949, the central government of the Republic of China retreated to Taiwan, but it continues to exist, thrive and exercise sovereign rights. While we have never denied some of those historical truths mentioned in the letter, including the Cairo Declaration and Potsdam Proclamation, they cannot deny that the continuous existence of the Republic of China on Taiwan is an objective and indisputable fact. Actually, the People’s Republic of China has never governed Taiwan for a single day.

2. Through valiant sacrifice and devotion over the years, people in Taiwan opened the door to democracy, and the people’s desire to master their own destiny has finally been fulfilled. The Republic of China on Taiwan has become a full-fledged democracy, continuing to exercise its sovereign rights, including electing its own President and Vice-President, and issuing visas to foreigners who want to travel to or work in Taiwan. Visa issuance is an act of sovereignty. When we commend the contribution of the 155,000 plus Overseas Filipino Workers (OFWs) in Taiwan that help develop Taiwan’s economy, we also welcome Filipino students to study and pursue higher education in Taiwan. They have to go to the “Taipei Economic and Cultural Office in the Philippines,” which is the de facto embassy of the Republic of China (Taiwan) in the Philippines, to apply for their visas to Taiwan, instead of the Chinese Embassy in the Philippines. It is also Taiwan’s government, not Chinese government that grants visa waiver treatment to Filipino passport holders for travelling in Taiwan within 14 days.

3. Though facing severe challenges from our biggest neighbor across the Taiwan Strait, the Republic of China (Taiwan) will neither yield nor provoke. Under the principles of parity and dignity, the government of the Republic of China (Taiwan) hopes to engage with the PRC to minimize the possibility of conflict by choosing dialogue over confrontation and exchange over containment.  It will staunchly uphold its free and democratic constitutional system, preserve the status quo, and remain committed to ensuring regional peace and stability.

Thank you very much.

Sophia Chi
Spokesperson of the Taipei Economic
and Cultural Office in the Philippines

Entertainment News (10/15/24)

Drag Race Philippines crowns 3rd season winner

THE winner of the third season of Drag Race Philippines is Maxie. Aside from the title of being the Philippines’ Next Drag Superstar, she received a grand prize of P1 million and a year’s supply of makeup products from Anastasia Beverly Hills. This all came after Maxie competed in a final lip sync for the crown against runner-up Khianna. The entire third season of Drag Race Philippines is available via HBO GO.

The Bloomfields releases new single ahead of show

IN TIME for their 20th anniversary show this month, The Bloomfields have dropped “Get Up,” a new single that the band originally wrote in 2019. Built around a single-chord jam, the song draws inspiration from 1960s psychedelic rock. The track brims with a heavy dose of loud, droning guitars and hypnotic soundscapes, providing a stark contrast to their more pop-leaning work. The indie pop/rock outfit will be performing the song live for the very first time at Byaheng Mahiwaga: The Bloomfields 20th Anniversary Gig, happening on Oct. 25 at Fin and Claw, Timog Ave., Quezon City.

Rain, Hwasa, and BINI in the IAM Worldwide concert

P-POP girl group BINI will be sharing the concert stage with Korean singer-actor Rain and Mamamoo member Hwasa on Oct. 20. The three are the chosen guest acts for the 7th anniversary of network marketing company IAM Worldwide, to be held in Mall of Asia Arena in Pasay City on Oct. 20. Organized by Wilbros Live, the concert will serve as a warm-up for the Pinoy girl group as they prepare for their three-day November concert Grand BINIverse in November at the Araneta Coliseum in Quezon City.

StageDoor adds 2nd night of Musical Theatre Rave

FOLLOWING overwhelming demand, StageDoor by GMG Productions has announced the Musical Theatre Rave: Encore, a second night of the sold-out Musical Theatre Rave. The event aims to merge the magic of Broadway with a high-energy dance floor, making it the ultimate celebration for theater lovers. Originally scheduled for one night only on Oct. 26 at the Globe Auditorium, Maybank Performing Arts Theater in BGC, the event will now have a second night on Oct. 27 at the same venue. The second night is open to attendees ages 12 and up, with tickets priced at P1,500 for adults (including two complimentary drinks) and P999 for juniors (no complimentary drinks). A special Family Bundle (two adults and two juniors) will also be available for P4,500. For more information, visit StageDoor’s social media pages.

The Rest Is Noise PH to hold Halloween Special

INDIE production outfit The Rest Is Noise PH will be throwing a Halloween party this month. It will feature Thai alternative pop trio KIKI as the headliner, in their first performance in the Philippines. The Bangkok-based band is known for catchy songs that blend pop and funk elements with groovy basslines, colorful synths, hip-hop elements, and soulful vocals. Other acts on the bill include Filipino drag star M1ss Jade So, whose run on the second season of Drag Race Philippines captivated fans all over the world, and AXEAN Festival alumni Munimuni and CRWN. DJ guests will be Davao-based hip-hop collective Playertwo and Chain Messages. “The Rest Is Noise Halloween Special” will take place at Sari-Sari Cocktails in Makati City on Oct. 27, from 7 p.m. onwards. Early bird tickets are available in limited quantities via bit.ly/kikimanila.

Ely Buendia launching album with full-length show

OPM legend Ely Buendia will be celebrating the release of his upcoming album, Method Adaptor, with an official launch at 123 Block in Mandaluyong City on Nov. 8, from 7 p.m. onwards. Aside from Mr. Buendia himself, the stage will be graced by a wide roster of artists under Offshore Music, such as Ligaya Escueta, ALYSON, Carousel Casualties, and Aviators. Presented by Gabi Na Naman Productions, Ely Buendia: Method Adaptor Album Launch will debut the songs off Mr. Buendia’s new record for the first time in a live setting, with special surprises in terms of production and repertoire. Pre-sale tickets are available via bit.ly/elybuendia123block.

British acid jazz band Incognito live in Manila

FANS of the British acid jazz band, Incognito, are in for a treat as the group is set to perform live in Manila for the first time after 10 years, on Nov. 10, at the New Frontier Theater in Quezon City. The group is known for their smooth blend of jazz, funk, and soulful sounds as their signature style, led by frontman Jean-Paul “Bluey” Maunick. The concert is presented by Ovation Productions. Tickets are available at ticketnet.com.ph.

Rakuten Viber brings back Backstage Pass Live

HOMEGROWN acts will be placed in the spotlight by Rakuten Viber in a free gig on Nov. 15 at the Brooklyn Warehouse in Manila. The lineup will include P-pop icons Josh Cullen of SB19 and KAIA, popular indie bands The Juans and One Click Straight, and pop-R&B star jikamarie. Tickets are available through Viber’s Backstage Pass Channel, where there will be a daily raffle giveaway until Nov. 10.

McDonald’s Stripes Run to host family and pets run

MCDONALD’S Philippines recently opened registration for its annual family fun run. Held since 2010, McDonald’s Stripes Run has been welcoming thousands of runners, now including their pets, all for the benefit of Ronald McDonald House Charities (RMHC) Philippines. This year, it will happen on Dec. 1 at the SM Mall of Asia Concert Grounds, with proceeds going to RMHC’s Bahay Bulilit Learning Centers across the country. Participants can choose from 10km, 5km, 3km, and 1km runs. There is also a 1km Fur Category for those bringing along pets. Each participant will receive a race kit to wear on race day, inclusive of race singlet, socks for kids and adults, a race map, bib, a breakfast meal on race day, and a finisher’s token. Participants can register at RaceRoster.com: bit.ly/StripesRun2024.

LOVER: An Eras Tour Experience coming to Manila

A TAYLOR SWIFT-INSPIRED concert is heading to the Philippines on Dec. 15. Lover: An Eras Tour Experience will be held at the New Frontier Theater, Quezon City, at 8 p.m. Fans can expect a recreation of Ms. Swift’s legendary Eras Tour and hear the greatest hits of the pop superstar, as brought to life by Texas-based performer Charity Eden. Lover has had performances worldwide, with sold-out shows in Japan, Kuwait, and across North America. The show is presented by Concert Republic, with tickets available at all TicketNet outlets and online. Prices range from P2,750 to P4,500.

Energy regulator pressed to release pricing mechanism for GEA-3

THE ENERGY Regulatory Commission (ERC) should finalize the pricing mechanism for the upcoming green energy auction (GEA) to ensure it proceeds as planned this year, a senator said.

“That is one of the priorities I think we need to do… the goal is to make the shift to renewables, and this is directly related to that. I hope we can get that done. I understand there are things that have to be done on the side of ERC as well,” Sen. Pilar Juliana “Pia” S. Cayetano said at the Senate budget hearing last week.

Energy Secretary Raphael P.M. Lotilla and ERC Officer-in-Charge Chairperson Jesse Hermogenes T. Andres were present at the hearing.

The DoE assured the lawmakers that GEA-3 will be completed before the end of the year.

“Our target for the Green Energy Auction 3 is to finish it before the end of the year such that the pumped storage hydro, [more than] 3,000 megawatts (MW), will be able to come in five years from now,” Energy Undersecretary Rowena Cristina L. Guevara said.

The green energy auction reserve prices, which set the maximum price offers for the auction, have yet to be released by the ERC.

“One of the items required there would be the approved pricing methodologies with ERC. We’re coordinating that,” Mr. Lotilla said.

Ms. Cayetano said that many investors are anticipating the third round of the GEA, which facilitates investments in the renewable energy sector.

In the last two years, the DoE has staged two rounds of GEA, which generated a total of 5,306 MW of renewable energy commitments for delivery in 2024 to 2026.

For this year, the agency has said that it would auction off renewable energy technologies worth a total capacity of 4,399 MW.

GEA-3 will cater to non-feed-in-tariff (non-FIT) eligible renewable energy technologies such as geothermal, impounding hydro, and pumped storage hydro.

The upcoming auction will also cater to run-of-river hydro, which is a FIT-eligible renewable energy technology.

The GEA program aims to promote renewable energy as one of the country’s primary sources of energy through competitive selection. — Sheldeen Joy Talavera

Discovery Hospitality to open second Kip & Kin in 2026

DISCOVERYHOTELS-RESORTS.COM

DISCOVERY WORLD Corp.’s property management firm Discovery Hospitality Corp. (DHC) is targeting to finish its lifestyle and “millennial-focused” brand Kip & Kin in Siargao by 2026.

“In the early first week of December, we will be introducing a new brand. It’s going to be called Kip & Kin, we will do the groundbreaking in Siargao Island in General Luna,” Discovery Hospitality Chief Operating Officer Jose “Jun” C. Parreño said during a media roundtable on Wednesday last week.

The concept of the Kip & Kin brand combines a hotel and hostel business in a single property.

Joegil Magtanggol M. Escobar, the hotel manager of Discovery Coron, said the development is targeted to be finished in two years.

The firm will break ground for the General Luna, Siargao location in the first week of December this year.

“This is for the younger market, for the millennial-centered, more on design, more on communal spaces, more on connection to the locality and experiential,” Mr. Parreño said.

Meanwhile, the first Kip & Kin brand in El Nido, launched in 2021, is still under construction as it was delayed due to the pandemic.

“We have a land bank in Benguet. We also have land banks in San Vicente. Actually, we have another lot in Boracay. Hopefully, we’ll be able to use that for Kip & Kin in the future also,” Mr. Parreño said.

This also came with the rebranding of the two resorts. Discovery Shores Boracay and Club Paradise Palawan are now Discovery Boracay and Discovery Coron.

The 99-suite Discovery Boracay offers guest rooms and signature suites ranging from 40-45 square meters (sq.m.) for a junior suite to 252 sq.m. for a grand signature suite.

It is 30 minutes away from Caticlan Airport and two hours away from Kalibo International Airport.

Meanwhile, Discovery Coron offers a garden suite, sunrise villa, oceanview villa premiere, sunset villa, and sunset villa premiere. These guest rooms span from 27 sq.m. to 60 sq.m.

The resort is an hour away from Busuanga Airport.

“With this change comes a fresh new website, updated social media handles, and several exciting experiences for our guests, designed for everyone to enjoy,” Mr. Escobar said.

The rebranding is intended to ensure consistency and elevate the customer experience across all resorts. 

“It is a crucial step in maintaining the high standard in service, amenities, and guest satisfaction that keeps Discovery Resorts distinct from the rest,” the firm said.

Along with the launch of the Kip & Kin brand, Mr. Escobar said that Sinag Restaurant is set to open later in 2024, along with the expansion of room offerings and treatments at the Glow Spa.

Last year, Discovery Resorts expanded with Discovery Samal that offers “a captivating vista of the Davao Gulf.” — Aubrey Rose A. Inosante

1...1,5351,5361,537...13,233Page 1,536 of 13,233
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin Twitter Youtube