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The Medical City offers innovative SPOT MAS for cancer risk detection

The Medical City (TMC) has introduced an innovative program called SPOT MAS (Screening Program for Oncologic Targets: Molecular and Serologic). This program aims to help patients determine their predisposition to various types of cancer through advanced molecular and serologic testing.

SPOT MAS offers a comprehensive approach, integrating the latest advancements in genetic and biomarker testing. By analyzing a patient’s genetic profile and blood markers, the program can identify potential cancer risks before symptoms appear. This proactive measure enables early intervention and personalized preventive strategies, significantly improving patient outcomes.

This test works by drawing a blood sample from a patient. The collected blood then undergoes next-generation sequencing to find cancer signals or circulating tumor DNA (ctDNA). If ctDNA is found, the sample will be analyzed to identify the tumor’s origin.  SPOT MAS will be able to detect a patient’s risk for cancers in the lung, liver, breast, stomach, and colon. The results are then reviewed by a team of expert oncologists and genetic counselors at TMC, ensuring personalized and accurate assessments.

Patients who are 40 years old and above, have a family history of cancer, or have an elevated risk for the disease due to factors such as an unhealthy lifestyle are potential candidates for SPOT MAS. However, this test is not an alternative to regular cancer screening.

By incorporating SPOT MAS into its healthcare offerings, TMC reaffirms its commitment to pioneering preventive medicine and empowering patients with the knowledge to take control of their health.

For more information, interested individuals may contact The Medical City’s Facebook Page or call (02) 8988-1000 local 6386 or 6579.

Disclaimer: SPOT MAS is not a substitute for regular cancer screening.

 

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Maynilad receives SEC approval for blue bond issuance

MAYNILAD Water Services, Inc. said the Securities and Exchange Commission (SEC) has approved its proposed blue bond issuance.

The SEC confirmed Maynilad’s proposal to issue Series A Blue Bonds due 2029 and Series B Blue Bonds due 2034, the company said in a statement on Thursday.

This complies with the ASEAN Green Bond Standards, as well as SEC Memorandum Circular No. 12 from 2018 and SEC Memorandum Circular No. 15 from 2023.

“This is the first Blue Bond public offering in the Philippines,” the company said.

Maynilad is proposing to offer up to P12 billion of fixed rate with an oversubscription option of up to P3 billion, subject to the company’s compliance with certain remaining requirements.

The company is targeting to offer the blue bonds from May 27 to May 31 and issue and list on the Philippine Dealing & Exchange Corp. on June 7.

Net proceeds from the offer are intended to finance sustainable water and wastewater management projects, according to the company.

The SEC said blue bonds refer to “a subset of green bonds and sukuk whose proceeds will exclusively be used to finance or refinance new and/or existing eligible blue projects and activities.”

Eligible blue projects are classified into several categories, including sustainable fisheries management, sustainable aquaculture, wastewater management, and marine and offshore renewable energy that do not harm marine ecosystems, among others.

Maynilad’s blue bonds have been rated “PRS Aaa” with a stable outlook by the Philippine Rating Services Corp.

The company has tapped BPI Capital Corp. as the sole issue manager for the offer. BPI Capital will also act as joint lead underwriter and joint bookrunner, together with BDO Capital & Investment Corp., First Metro Investment Corp., and East West Banking Corp.

Maynilad serves the cities of Manila, except San Andres and Sta. Ana. It also operates in Quezon City, Makati, Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas, and Malabon. It also supplies the cities of Cavite, Bacoor, and Imus, and the towns of Kawit, Noveleta, and Rosario, all in Cavite province.

Metro Pacific Investments Corp., which has a majority stake in Maynilad, is one of three Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera

GT Capital attributes Q1 growth to Metrobank, TMP, AXA Philippines

LISTED conglomerate GT Capital Holdings, Inc. saw its first-quarter (q1) attributable net income grow by 7.1% to P7.11 billion, led by its banking, automotive, and insurance businesses.

“This was driven by the record performance of Metropolitan Bank & Trust Co. (Metrobank), the net income of which is at P12 billion, Toyota Motor Philippines (TMP), which realized a net income of P4 billion, and AXA Philippines Life and General Insurance Corporation (AXA Philippines) with a net income of P 728 million,” the company said in a statement on Thursday.

“Federal Land, Inc. (Federal Land) recorded a net income of P291 million, while associate Metro Pacific Investments Corp. (MPIC) also contributed to GT Capital’s robust performance during the period,” it added.

Combined revenues for the first-quarter period rose 6.2% to P74.1 billion from P69.8 billion in the corresponding period a year ago. 

“We are encouraged by the quality and persistence of our core earnings growth on top of the prior year’s historical high levels,” GT Capital President Carmelo Maria Luza Bautista said.

“These demonstrate the strength in the underlying fundamentals of GT Capital and the resiliency of the domestic economy,” he added.

At the same time, he expressed confidence that the group will sustain its early gains throughout the remainder of the year.

GT Capital has interests in banking, automotive assembly, importation, dealership, and financing, property development, life and general insurance, and infrastructure.

Its operating companies also include Toyota Financial Services Philippines Corp., Sumisho Motor Finance Corp., GT Capital Auto and Mobility Holdings, Inc., JBA Philippines, Inc., and Premium Warranty Services Philippines, Inc.

MPIC is one of the three key Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT Inc.

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

Manila Water divests from Bulacan water companies

MANILA Water Co., Inc. announced on Thursday its subsidiary’s divestment from Bulakan Water Co., Inc. (BWCI) and Obando Water Co., Inc. (OWCI) for a total of P1.02 billion to fund other initiatives.

Filipinas Water Holdings Corp. (FWHC) has signed a share purchase agreement with SMC Bulacan Water Services Corp. for the sale of all of FWHC’s interests, Manila Water said in a regulatory filing.

The interests constituted a 90% stake in BWCI, amounting to 135 million shares, and a 90% stake in OWCI, amounting to 88.2 million shares.

BWCI is a joint venture corporation with Bulacan Water District to operate the concession for the provision of water and sanitation services in Bulacan town.

Meanwhile, OWCI is a joint venture corporation with Obando Water District to operate the concession in the Municipality of Obando, both in the province of Bulacan.

Manila Water serves the east zone network of Metro Manila, covering parts of Marikina, Pasig, Makati, Taguig, Pateros, Mandaluyong, San Juan, portions of Quezon City and Manila, and several towns in Rizal province. — Sheldeen Joy Talavera

Getting up close and personal via VR

BTS’ virtual reality experience now in the Philippines

K-POP boy group BTS has made waves across the globe, and is now arriving in the Philippines by way of the immersive virtual reality (VR) exhibition “BVERSE ‘BTS, Singing the Stars.’”

Put together by YiZ Entertainment and hosted by Araneta City, the unique experience is set to transport fans to BTS’ stage performances at The Fact Music Awards. The exhibition uses virtual reality (VR) to recreate their singing and dancing on that stage in full detail, to make viewers feel they are right there with them.

“BTS’ team worked with our Korea team to bring this out to you guys while they are currently serving their mandatory military service. One of the main reasons we’re doing this now is we want to keep the BTS love alive in the meantime,” said Joe Yi, Chief Executive Officer of YiZ Entertainment, in a press interview at the May 14 preview of the show.

The show recently concluded its run in Malaysia and Thailand and is now in the Philippines and Japan.

“Fans are going to love it because it is a new experience. I know that the BTS ARMY (the official name of the group’s fanbase) here is very united, so it’s exciting to see their real, raw reactions,” he added.

According to the group’s label HYBE, the seven members — Kim Seok-jin (Jin), Jeon Jung-kook (Jungkook), Park Ji-min (Jimin), Kim Tae-hyung (V), Min Yoon-gi (Suga), Jung Hoseok (J-Hope), and Kim Nam-joon (RM) — will return from the mandated military service one by one starting this year and will all reunite by 2025.

Since their debut in 2013, BTS has become a worldwide sensation. Their upbeat, empowering hits include “Dynamite,” “Yet to Come,” “For Youth,” and “Permission to Dance,” all four of which are included in the “ ” exhibition.

For fans, the VR version of the iconic performances will feel remarkably up close and personal. Truly immersive and lifelike thanks to projection mapping, the VR videos mimic having a front row view, looking up at the stage where the members are singing and dancing, seemingly so close that they might even step on you.

“The contents used for the VR concert experience were taken over the span of three to four years,” Mr. Yi told BusinessWorld. The goal, he said, is to ensure an enthralling visual and auditory experience for fans who might be sick of simply watching flat videos on their devices.

After the VR show, the exhibition then takes visitors on a tour of seven rooms, each representing a BTS member. Every room is personalized by theme, with eye-catching interiors and high-quality photo prints. They are: RM’s Nature Planet, Jin’s Satellite, J-Hope’s Hope Planet, V’s Film Planet, Suga’s Art Planet, Jimin’s Aqua Planet, and Jung Kook’s Prism Planet.

Casual fans of BTS will find it educational to get a feel of each member through the rooms, but staunch ARMYs who already have a bias (a term they use referring to a favorite member) can head straight to the room of their choice.

A regular ticket is P1,500 and comes with free gifts: a   zip lock pouch, a battery-operated ARMY star badge, and a random photocard of one of the BTS members.

Just before the exhibition’s exit is a gift shop offering limited edition BTS merchandise. These include clear folders, postcards, calendars, brochures, tote bags, and T-shirts all featuring the BTS members.

The “BTS  ” exhibition runs from May 17 to Aug. 15 at the New Gateway Mall 2 in Araneta City, Cubao, Quezon City.

Regular passes, which will allow entry only during a chosen date and time, are priced at P1,500. A limited number of Flexi-Pass tickets, which allow fans to come in at any time during their chosen date, are available for P1,900. — Brontë H. Lacsamana

Delay expected for Tuy-Dasmariñas transmission project — NGCP

THE National Grid Corp. of the Philippines (NGCP) said the completion of the Tuy-Dasmariñas 230/500-kilovolt (kV) transmission line and substation project may be delayed after a regional court ordered relocation of two tower sites.

“The tower parts for the current route have already been manufactured, and it is unlikely that a revised route will make use of the same tower type. We will have to manufacture tower parts from scratch,” the grid operator said in a statement on Thursday.

There would also be an additional construction and right-of-way costs that could be incurred, it said.

The NGCP said that it filed expropriation cases against E.M. Ramos and Sons, Inc. and several other defendants who claim interest over the properties affected by 15 of the 135 towers to be constructed for the project.

The regional trial court of Dasmariñas has issued writs of possession (WoP) for both cases.

However, in an order dated April 8, the regional court ruled to reinstate the previously withdrawn WoP but confirmed the previous order to relocate two towers.

The NGCP said that the expropriation-related delays may lead to additional costs, as well as potential power interruptions as it may hamper the entry of an additional 5,21.55 megawatts in proposed generation capacity near Calaca, Batangas.

The completion of the transmission project is targeted for December of this year.

However, the project could be delayed by an estimated 27 months, involving about a year for right-of-way acquisition and roughly 15 months more for survey, procurement, fabrication of materials, and construction.

“We will be pursuing all remedies available to us to expedite the resolution of the issue. Our priority is to finish our projects on time and prevent avoidable delays of this kind,” the NGCP said.

“We ask our stakeholders to recognize that delays in our projects impact the public directly,” it added.

The Tuy-Dasmariñas 230 kV transmission line project was approved by the Energy Regulatory Commission with an approved cost of P3.05 billion.

The Tuy 500-kV Substation Project Stage 1, with an applied cost of P8.454 billion, is still awaiting ERC approval. — Sheldeen Joy Talavera

For Cannes film market, conditions ripe for success after early pandemic years

FREEPIK

CANNES — All the elements are in place for a successful Cannes film market after several subdued pandemic years, with a record line-up tempting buyers who are counting on a vibrant international market to eclipse weakness in the United States.

While the Cannes Film Festival conjures visions of glamorous celebrities on the red carpet and yacht parties, the main attraction is the film market, where industry players, big and small, gather to do business.

That market, which opened on Tuesday and runs until May 22, is set to welcome a record number of participants, over 15,000 from more than 140 countries.

In addition to films with Oscar potential, such as director Ali Abbasi’s The Apprentice, about a young Donald Trump, there is a large number of not-yet-made films up for grabs due to the Hollywood strikes.

“The line-up is very strong,” Kent Sanderson, president of independent film distributor Bleecker Street, told Reuters.

And it includes more English-language films and established directors this year, such as Paul Schrader and Francis Ford Coppola, Mr. Sanderson said.

“The list is better and of a higher level than I think I’ve ever seen,” especially for films yet to be made, that have been held back due to the strikes in Hollywood, Scott Roxborough, European bureau chief for The Hollywood Reporter, told Reuters.

“That, combined with the fact that the independent market in the United States, the distribution market, is still quite tough” will put the spotlight on Cannes, he said.

CAUTIOUS OPTIMISM
Still, the mood is cautious following the earlier pandemic years, said Mr. Sanderson, whose Bleecker Street acquired the Cate Blanchett-led Group of Seven comedy Rumours, showing at Cannes.

A big question is whether the US will match its foreign counterparts in terms of sales, said Mr. Sanderson.

While there has been some recovery in the years since the COVID-19 outbreak, with Europe doing better than the US, “nobody really sees a trajectory that would take us back to the level of ticket sales and the revenue that we saw in 2018, 2019,” Mr. Roxborough said.

Ticket sales in the United States and Canada peaked at $11.9 billion in 2018. Last year, they came in at $8.9 billion.

“Whether that has to do with a shift in habits, that people just don’t want to go to theaters in the same way, whether it has to do with the fact that we’re past the sort of boom of the Marvel films, I’m not quite sure,” said Mr. Roxborough, who doubted there would be “another $11-billion year.”

Box office researchers Gower Street Analytics predict 2024 global ticket sales of $32.3 billion, 3% lower compared with last year based on current exchange rates.

Better sales prospects overseas have prompted filmmakers to turn to the international market before the United States, Mr. Roxborough said.

Just this month, MadRiver Pictures, led by Chief Executive Officer Marc Butan, closed a deal with key global distributors that sees it pre-selling rights to those partners, and allows MadRiver to bankroll and approve films before selling in the US, reported The Hollywood Reporter.

The venture will focus on action, thriller, and adventure features and will aim to produce two to three films a year.

“For a lot of the independent distributors, there’s a kind of insatiable demand for those types of movies because the supply isn’t there,” Mr. Butan told Reuters.

SPACE FOR BIG TITLES ONLY
According to Mr. Butan, the changes in viewing habits spurred by streaming companies have been accompanied by higher-end commercial film studios shifting toward the larger-budget tent pole movies — films that are nearly guaranteed hits — leaving the mid-budget space to the independent studios.

For films outside the mainstream with “great scripts, great cast, great directors that are made at the right price — I think there’s a real market for those,” said Mr. Butan.

However, “the stuff between those two zones, when you get kind of into the $15-40 million space or something like that, it’s really, really hard,” Mr. Butan said.

Clement Magar, of the China-focused Fortissimo Films, has also seen the market for small titles dry up.

Instead, he said, companies go for big theatrical releases to earn money, or seek deals with larger platforms like Netflix — which tends to just buy big, mainstream Chinese titles.

“It used to be a small market; now it’s zero market for small titles, and there’s only space for big titles,” said Magar, whose company is launching the animated Chinese feature, The Umbrella Fairy, at the Cannes’ market this year. — Reuters

Megaworld board OK’s Alliance Global share subscription

MEGAWORLD Corp. said its board of directors has approved the subscription of its parent company, Alliance Global Group, Inc. (AGI), to its 1.38 billion common shares for P2.61 billion.

In a stock exchange disclosure, Megaworld said the 1.38 billion common shares will be issued out of the P5.5 billion increase in authorized capital stock.

Alliance Global will subscribe to its shares priced at P1.90 each, representing a 5% premium over the company’s 30-day volume weighted average price, Megaworld said.

“The subscription is made by AGI to support growth and future business expansions of the corporation in line with the latter’s strategies and directions,” Megaworld said.

For the first quarter, property developer Megaworld saw an 8% jump in its first-quarter attributable net income to P4.4 billion from P4.08 billion last year on higher residential sales as well as mall and hotel revenues.

Consolidated revenues during the January to March period improved by 16% to P18.87 billion from P16.23 billion last year.

The company attributed the revenue growth to its Boracay Newcoast development, which saw strong bookings of the 1,200-seater Boracay Newcoast Convention Center.

To date, Megaworld has 31 master-planned integrated urban townships, integrated lifestyle communities, and lifestyle estates across the country.

At the stock exchange on Thursday, shares in the company closed four centavos, 2.27% higher at P1.80 apiece. — Ashley Erika O. Jose

PHL financial system resources expand by 9% as of end-March

BW FILE PHOTO

THE COMBINED RESOURCES of the Philippine financial system rose to P31.672 trillion as of end-March, data from the Bangko Sentral ng Pilipinas (BSP) showed.

Preliminary data from the central bank showed resources of banks and nonbank financial institutions increased by 9% at end-March from the P29.038 trillion in the same period a year ago.

It also edged up by 2.2% from P31.003 trillion as of end-February.

The financial system’s resources include funds and assets such as deposits, capital, as well as bonds or debt securities.

BSP data showed banking resources jumped by 10.7% to P26.442 trillion as of end-March from P23.887 trillion a year earlier.

Broken down, total resources held by universal and commercial banks climbed by 10.6% P24.778 trillion from P22.397 trillion in 2023.

Resources of thrift banks stood at P1.116 trillion in end-March, up by 8.9% from P1.025 trillion.

Meanwhile, digital banks’ resources surged by 65.6% to P101 billion from P61 billion in the same year-ago period.

Rural and cooperative banks held P446 billion of total resources at end-December, higher by 10.4% from P404 billion a year earlier, based on the latest available data.

Meanwhile, the resources of nonbank financial institutions inched up by 1.5% to P5.23 trillion as of end-December from the P5.151 trillion recorded in the previous year.

Nonbank financial institutions include investment houses, finance companies, security dealers, pawnshops and lending companies.

Institutions such as nonstock savings and loan associations, credit card companies, private insurance firms, the Social Security System and the Government Service Insurance System are also considered nonbanks.

“The continued faster growth in banks’ loans, deposits, and capital due to continued growth in earnings largely contributed to the latest growth in the total resources of the financial system,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

Separate BSP data showed that the Philippine banking industry’s net profit rose by 2.95% to P92.107 billion at end-March from P89.47 billion a year prior.

Meanwhile, the banking system’s combined assets jumped by 10.8% to P25.65 trillion as of March from P23.15 trillion.

Ruben Carlo O. Asuncion, chief economist at Union Bank of the Philippines, Inc., said that the rise in total resources was also driven by gross domestic product (GDP) growth.

“I would like to think that this is relative to GDP growth. If GDP rises, this data has a higher likelihood to rise,” he said in a Viber message.

The Philippine economy grew by 5.7% in the first quarter, better than the 5.5% in the preceding three-month period but slower than the 6.4% expansion logged in the same quarter in 2023.

The country’s first-quarter growth was about the same as Vietnam’s 5.6% and ahead of China (5.3%), Indonesia (5.1%) and Malaysia (3.9%).

The government is targeting 6-7% GDP growth this year. — Luisa Maria Jacinta C. Jocson

Tracking the progress of healthcare in PHL

Photo from Freepik / pch.vector

One of the most concrete pieces of evidence of humanity’s progress is the advancement of healthcare and medicine. According to the World Health Organization, since 1990, the global under-five mortality rate has decreased by over 50%, saving approximately 17,000 children’s lives daily. Globally, life expectancy has increased by approximately six years since 2000, from 66.8 years in 2000 to 73.4 years in 2019.

As technology continues to develop and pervade every aspect of daily life, this is only expected to get better. In the Philippines, for instance, the healthcare sector is undergoing a revolutionary transformation.

It was only in 2018 that the Philippines’ Universal Health Care (UHC) Act was enacted into law. It acted as a significant reform aimed at improving healthcare access and affordability for all Filipinos, and since then, progress in the field of health and medicine continued unabated towards the pursuit of inclusive and affordable healthcare for all Filipinos.

The UHC law automatically enrolls all citizens in the National Health Insurance Program (PhilHealth), expanding the scope of covered services to include preventive, curative, and rehabilitative care. This prioritizes protecting Filipinos from financial hardship due to medical costs, while strengthening the nation’s primary care system through efficient use of resources.

Further towards that goal, the Marcos administration recently announced an increase in this year’s budget for the improvement of the health facilities in the country — to the tune of more than P28.58 billion. The funds have been allocated under the 2024 General Appropriations Act for the Department of Health’s implementation of the Health Facilities Enhancement Program (HFEP).

According to the Department of Budget and Management, this is higher by 6.6% from the P26.81 billion earmarked in 2023. The allocation, according to Budget Secretary Amenah Pangandaman, is evidence of President Ferdinand R. Marcos, Jr.’s administration’s steadfast commitment to healthcare reform.

She underlined that realizing Mr. Marcos’ goal of turning the nation into a “Bagong Pilipinas” where Filipinos have access to first-rate primary healthcare depends on sustained support for the HFEP.

“As the President said in his last SONA, we are increasing our public health facilities both in number and in capability. And so, we will ensure that this program will get a much-needed support,” Ms. Pangandaman said.

“We understand that many Filipinos depend on public hospitals and centers, that’s why it’s important that our health facilities are prepared and equipped to cater to the needs of our fellow countrymen,” she added.

The HFEP’s entire funding allotment will go toward building, modernizing, or growing government healthcare facilities around the country. Additionally, the budget will be utilized to buy medical transport trucks and hospital equipment.

Program priorities include Geographically Isolated and Disadvantaged Areas and Universal Health Care sites.

In addition, the HFEP seeks to equip and facilitate ongoing project building while modernizing critical facilities for effective response to the coronavirus disease 2019 and other potential public health emergencies in the future.

Healthcare will only continue to get more sophisticated as more innovations on the digital front emerge. From telemedicine to integrated digital health platforms, technology is not only bridging the gap between urban and rural healthcare services but also enhancing the efficiency and accessibility of medical care.

Telemedicine has emerged as a vital component of the healthcare landscape in the Philippines, especially accelerated by the pandemic. According to the Department of Science and Technology-Philippine Council for Health Research and Development (DoST-PCHRD), the future of digital healthcare in the country involves widespread adoption of telehealth services.

These services enable remote consultations, reducing the need for physical visits and allowing patients, particularly those in remote and underserved areas, to access medical advice and treatment without the challenges of travel​.

“Right now, we have 77% of our country covered with internet connectivity, but 85% of our population is on the internet. Meaning, we at the DICT (Department of Information and Communication Technology) have to make sure to close that gap, where the remaining 23% who are mostly in the geographically isolated and disadvantaged areas where healthcare solutions are much needed are reached,” DICT Undersecretary Jocelle Batapa-Sigue said during a discussion hosted by the PCHRD.

Digital health platforms are also being developed to integrate various health services. These platforms aim to provide comprehensive healthcare solutions, including electronic medical records, appointment scheduling, and teleconsultations, thereby streamlining operations and improving patient outcomes. The integration of artificial intelligence (AI) in these platforms helps in predictive analytics, enabling healthcare providers to offer personalized care and early intervention strategies.

Towards affordable universal healthcare

Recently, the Department of Health and the World Health Organization (WHO) have launched the 2024-2028 National Integrated Cancer Control Program (NICCP) Strategic Framework that reemphasizes how crucial it is to establish priorities and build capacities in order to meet the strategic objectives of cancer control.

The goal is to keep improving access to cancer centers, providing financial support, and establishing a multi-sectoral council for policy-making, planning, and coordination in cancer prevention and control in the Philippines.

“Universal health coverage and strong primary healthcare are the keys to addressing broader health system factors that influence equitable access to affordable, high-quality cancer care. The WHO will continue to support the country in ensuring that the cancer control program is built on an effective health system,” Dr. Rui Paulo de Jesus, WHO representative to the Philippines, said.

Similarly, the Philippine Health Insurance Corp. (PhilHealth) and the Philippine Information Agency (PIA) have intensified their partnership to promote universal healthcare.

In particular, a strategic collaboration between the PIA and PhilHealth will focus on simplifying member registration and educating the masses with regard to PhilHealth’s “Konsultasyong Sulit at Tama (Konsulta)” Program, which aims to promote preventive health through the availment of free outpatient care services for early detection.

These include health risk assessment, laboratory and diagnostic tests, and medicines for select conditions such as asthma, diabetes, and hypertension.

“PhilHealth’s Konsultasyong Sulit at Tama, or Konsulta benefit package, seeks to address persisting health conditions and emerging diseases that could possibly lead to financial difficulties should they be left unattended. This program aims to prevent worsening conditions that often lead to hospitalization or expensive medical treatments,” said PhilHealth President and Chief Executive Officer (PCEO) Emmanuel R. Ledesma, Jr.

“Maintaining a healthy lifestyle and practicing good health habits that help us in preventing or avoiding illnesses are vital to our overall well-being, especially in these times when medical care costs are constantly increasing,” he added, urging the public to give priority to preventive healthcare.

As the Philippines continues to embrace the future of healthcare, consistent and continuous development is essential. These efforts, as well as similar investments in infrastructure and capacity-building, are crucial to ensure that healthcare providers are equipped with the necessary skills and tools to effectively use digital technologies. Additionally, such policies and regulations must be updated to support the integration of digital health solutions while safeguarding patient information and promoting ethical practices.

Technology will no doubt play a bigger transformative role in the Philippine healthcare system of the future, driving improvements in access, quality, and efficiency. With continued investment and collaboration, digital health initiatives have the potential to significantly enhance healthcare delivery and outcomes for all Filipinos, paving the way for a more equitable and sustainable healthcare system. — Bjorn Biel M. Beltran

Dystopia and glamor collide as new Mad Max saga premieres at Cannes

ANYA TAYLOR-JOY in a scene from Furiosa: A Mad Max Saga.

CANNES, France — Marvel royalty Chris Hemsworth walked the Cannes Film Festival’s red carpet alongside star-of-the-show Anya Taylor-Joy for the first time on Wednesday night to mark the world premiere of director George Miller’s much-awaited Furiosa: A Mad Max Saga.

Mr. Hemsworth, aka Thor, went sans bowtie down the carpet alongside his wife, Elsa Pataky, while Ms. Taylor-Joy wore an elegant strapless gown. American actress Faye Dunaway and Australian director Baz Luhrmann also attended the event.

The fifth Mad Max iteration comes 45 years after Mr. Miller first introduced audiences to his dystopian film universe and is a far cry from the original 1979 film starring Mel Gibson.

The focus in the latest film is on the origins of Furiosa, the one-armed big rig driver played to great acclaim by Charlize Theron in the preceding film, 2015’s Mad Max: Fury Road.

This time around, Furiosa is portrayed by Taylor-Joy, best known for The Queen’s Gambit and The Witch, as she faces off against Mr. Hemsworth as the bearded biker warlord, Dementus.

Variety and The Hollywood Reporter said that while the film had some impressive action scenes, and Ms. Taylor-Joy gives a fierce performance, it is a step down from the success of Fury Road.

Summarized in Variety’s review headline: “The origin story of Furiosa has dazzling sequences, but George Miller’s overstuffed epic is no Fury Road.”

Audiences will have their chance to see the Warner Bros. film when it is released in theaters later this month. It is set to hit international theaters on May 22 and in the US on May 24. — Reuters

Phinma says education unit drives slight growth in Q1 income

UNSPLASH

PHINMA Corp. saw a slightly higher first-quarter net income of P229.57 million compared with P227.37 million last year, driven by the performance of education unit.

“We entered 2024 with optimism, as our education, construction materials, property development, and hospitality businesses built on investments and best practices from the previous year,” PHINMA Chairman and Chief Executive Officer Ramon R. del Rosario, Jr. said in a statement on Thursday.

“We are challenging our business units to do in their sectors, starting with housing, what we are doing in education in serving the needs of the underserved,” he added.

For the first quarter, the company’s top line climbed by 14% to P5.45 billion, its financial statement showed.

Phinma’s first-quarter combined expenses went up by 14.7% to P4.61 billion from P4.02 billion in the comparable period a year ago.

The company said the growth of Phinma Education Holdings, Inc. and the performance of Phinma Construction Materials Group lifted the company’s earnings.

For the first quarter, Phinma Education recorded P1.88 billion in consolidated revenues, a 26% increase compared with the same period a year ago, driven by increased enrollment figures.

Phinma CMG composed of  Union Galvasteel Corp. (UGC), Philcement Corp. (Philcement), and PHINMA Solar Energy Corp. (PHINMA Solar) recorded a combined net income of P27.71 million and gross revenues of P3.05 billion. 

“All these we continue in line with our call to use business as a force for good, as a means to improve lives and the nation as a whole,” Mr. Del Rosario said. 

At the stock exchange on Thursday, shares in the company closed unchanged at P20 apiece. — Ashley Erika O. Jose

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