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Auditing’s solid significance in a digital world

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Through the years, the auditing landscape has evolved, adapting to technological advancements that shape new standards within the industry. In the midst of these changes, nonetheless, auditing professionals continue to play a pivotal role in ensuring financial integrity and transparency.

Auditing is among the sectors that have best optimized technology capabilities. According to a report from the global professional services firm KPMG, technology transformed financial and data reporting, analysis, and insights, leading to higher quality and more accurate audits.

Before, the role of audit professionals focused primarily on traditional tasks, which involved paper audits, writing reports, visiting clients and reviewing companies’ accounting reports. At present, technology has significantly advanced financial and auditing management. It now streamlines auditing tasks, extracts data, tracks real-time data, and utilizes data analytics for audit transactions.

More recently, artificial intelligence (AI) has made its way to the auditing industry, further revolutionizing auditing practices and the financial reporting ecosystem. It is now being integrated into audit processes and financial statement analyses. It has been cited for helping analyze large datasets, detect material misstatements, gain more relevant insights, and improve audit accuracy and efficiency.

Automation is also streamlining repetitive tasks and improves audit quality, while audit management platforms enable real-time monitoring, and other big data tools which are designed to simplify data and information.

With digitalized auditing, the role of internal and external auditors expanded to managing control processes, detecting risks, safeguarding data integrity, strengthening cyber resilience — all while ensuring regulatory compliance and adhering to international standards.

“Today, there’s a lot of technology involved,” Regula Tobler, auditor and partner at KPMG Switzerland, was quoted as saying in a media interview. “We can extract the data from client’s systems. The technology — data analytics, to be exact — does a lot of work. We do the analytics and that allows us to really focus on the more critical transactions. Some of that has been outsourced to shared service centers, for example. The job description is very different today. The one thing that hasn’t changed is that we’re still at the client site.”

As the demand for greater audit services increases, so does the need for skilled auditing professionals who enable and adhere to transparency across systems. While digital has permanently marked its spot on auditing, the skills of auditors are deemed as significant as these advancements are. Their expertise allows them to effectively navigate the digital landscape as they interpret data, address risks, and provide expert opinion in audit management.

Auditing, even in other sectors, is equally important and attractive. It goes beyond numbers; it also teaches professionals the knowledge and skills about financial management, tax, and the law — which are all fundamental in business operations.

“Auditing is definitely not going to become so redundant or irrelevant. I don’t see that happening at all,” Peter Leibfried, professor at the University of St. Gallen and director of the Institute for Accounting, Control, and Auditing, said.

As a business of transparency and information, he continued, this profession necessitates human touch and expertise. It needs a lot of emotional intelligence and excellent client relationships to work.

Combined with digital solutions, evolving frameworks, and data-driven approaches, auditors are expected to remain relevant in the following years. Digital auditors are seen to benefit businesses, bringing accuracy, efficiency, and transparency in business operations, particularly in audit management, risk management, and compliance reporting.

“[On what the profession will look like in 10 years], I think it’s going to evolve in a lot of things, including content, ESG (environmental, social, and governance framework), and working with data. You always need people in leadership and positions. Business, [and] the economy, is something that happens between people, not between the random computers or artificial intelligence,” Mr. Leibfried said. — Angela Kiara S. Brillantes

JG Summit income up 10%, boosted by merger gains

JG SUMMIT President and Chief Executive Officer Lance Y. Gokongwei — JGSUMMIT.COM.PH

GOKONGWEI-LED conglomerate JG Summit Holdings, Inc. reported a 10% increase in attributable net income for 2024 to P22 billion, driven by higher revenue and merger-related gains.

“Incorporating non-core items such as mark-to-market and foreign exchange movements, as well as losses from unplanned shutdowns and discontinued operations, net profits closed at P22 billion, 10% higher versus last year,” JG Summit said in a regulatory filing on Thursday.

Core profit rose by 29% to P24.9 billion, reflecting a P7.9-billion gain from the merger of Robinsons Bank Corp. with Bank of the Philippine Islands (BPI), which took effect in January last year.

Revenue grew by 11% to P379.7 billion, driven by strong travel and leisure demand, higher food and beverage sales volumes, and the resumption of petrochemical plant operations following a commercial shutdown in the prior year.

Parent net debt increased by 17% to P66.6 billion due to additional borrowings, including a P17.1-billion capital infusion into JG Summit Olefins Corp. (JGSOC) in the fourth quarter, used to meet maturing obligations and debt covenants.

“We have successfully navigated 2024 with mixed results across our business units and investments. Heading into 2025, our key priority will be to accelerate topline growth across all units, given the expected rebound in consumer sentiment as inflation eases,” JG Summit President and Chief Executive Officer Lance Y. Gokongwei said.

Universal Robina Corp. (URC) posted a 4% decline in 2024 net income to P11.7 billion, while revenue rose by 3% to P161.9 billion, supported by strong international business performance.

Robinsons Land Corp. (RLC) recorded flat net income at P12.5 billion, while revenue increased by 3% to P40.1 billion, driven by 14% annual growth in its investment portfolio.

Cebu Air, Inc. reported a 32% drop in 2024 net profit to P5.4 billion due to higher interest expenses related to fleet expansion. However, revenue rose by 18% to P104.9 billion. Passenger volume increased by 18%, supported by a 3% decline in average fares in the latter half of the year.

JG Summit Olefins Corp. saw its net loss widen to P16.5 billion due to challenging market conditions, though revenue rose by 33% to P50.4 billion.

JG Summit said polymer and olefin margins remained under pressure, constraining profitability despite improvements in aromatics, butadiene, and liquefied petroleum gas trading.

JGSOC has been under an indefinite commercial shutdown since January 2025 to mitigate losses amid unfavorable market conditions.

JG Summit’s equity share in Manila Electric Co. (Meralco) increased by 21% to P11.9 billion, driven by higher distribution sales volumes.

Its equity stake in Singapore Land Group saw a 31% increase, supported by improved hotel operations, higher rental rates, and increased occupancy in its property investments.

“We expect initiatives launched in 2024 to gain momentum — URC’s value-for-money offerings, Cebu Pacific’s expanded fleet capacity, and completed RLC projects will drive growth,” Mr. Gokongwei said.

“We are also optimistic about our ecosystem plays and partnerships — GoTyme, our digital banking arm, continues to acquire new accountholders, while DHL Summit Solutions, our supply chain and logistics venture, has expanded to new customers beyond the group,” he added.

JG Summit shares rose 2.33% or 38 centavos to P16.68 apiece on Thursday. — Revin Mikhael D. Ochave

Toyota Clarin, Misamis Occidental Service Center breaks ground

In photo (From L to R): TMP Vice President of Customer Service Operations Mr. Marvin Gardiner, TMP Vice President of Vehicle Sales Operations Ms. Elijah Marcial, TMP First Vice President of Customer Service Operations Mr. Bernardino Arevalo, 2nd District of Misamis Occidental Cong. Ando Oaminal, Misamis Occidental Governor Mr. Henry Oaminal, Toyota Cagayan De Oro (TCO) Chairman Mr. Peter Lim Lo Suy, and Toyota Cagayan de Oro Inc. President Ms. Betty Lu.

The new facility is set to enhance automotive care with efficiency and innovation

Toyota Motor Philippines (TMP), in partnership with Toyota Iligan City Inc., of the Toyota Cagayan de Oro Inc. group has officially begun the development of the Toyota Clarin, Misamis Occidental Service Center—the first of its kind in the province, offering local residents direct access to Toyota’s after sales services. Strategically located in Barangay Lapasan, Clarin, the new facility is designed to provide high-quality, reliable automotive services, enhancing the overall Toyota ownership experience for both existing and prospective customers in the region.

The forthcoming service center is designed to elevate customer convenience and satisfaction in Clarin and nearby areas and will help support customers within the region. Upon completion, the Toyota Clarin Service Center will span a total building area of 2,620 square meters and will offer a full range of after-sales services, including Periodic Maintenance, General Job, and Body and Paint services. It will also feature a modern showroom and state-of-the-art service bays to accommodate a larger number of customers efficiently. 

Driving for Economic Growth in Clarin 

“This facility will be part of the endless developments in the municipality of Clarin which we believe will help the further boost its local economy,” shared TMP First Vice President for Customer Service Operations, Mr. Bernardino Arevalo. “This initiative is a step toward building a stronger, more connected, and more prosperous Clarin, where progress benefits everyone,” he added.

Follow Toyota Motor Philippines on Facebook, Instagram and X, and join the ToyotaPH community on Viber to get the latest updates on products, services, and promos.

 


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Arthaland eyes launch of three residential projects this year

Arya Residences — ARTHALAND.IMGIX.NET

LISTED property developer Arthaland Corp. said it will launch three mid- to high-end residential projects this year.

“Right now, we have already completed three office developments, and we’re focusing more on residential projects, given that the office market is still soft,” Christopher G. Narciso, executive vice-president and business operations group head at Arthaland, told reporters on the sidelines of a briefing on Thursday.

The projects will rise in Quezon City, Makati City, and Laguna.

The listed developer is also set to complete its high-end condominium development, Lucima, in Cebu, as well as Eluria in Legazpi Village, Makati.

Over 50% of Eluria’s units have already been sold, Arthaland Senior Vice-President and Chief Sustainability Officer Oliver L. Chan said during the briefing.

“Eluria has garnered an excellent response from the market, with more than half of the units already reserved. With limited opportunities remaining, now is the perfect time to step into the Eluria lifestyle,” Mr. Chan said.

On pricing, a 300-square meter unit costs about P150 million to P170 million, he noted.

The 31-story Eluria features 37 limited-edition units, with only one to two units per floor. The project is expected to generate P6 billion in sales.

“Right now, Eluria’s units are still priced lower per square meter compared to other ultra-luxury developments in Makati or BGC (Bonifacio Global City),” Mr. Chan said.

“It’s still lower, but you get better finishes, you get sustainability out of it, and, of course, most importantly, you get the hospitality directors.”

Eluria offers personalized white-glove butler services from internationally trained hospitality directors. They will handle residents’ needs, including guest arrivals, food and parcel deliveries, restaurant reservations, and pet grooming and walking services.

To ensure security, each unit has a UV-sterilized valet box where residents can store parcels, dry cleaning, and other deliveries. Its elevators provide private access to each unit floor as well as the amenity floor, with an average waiting time of only 23 seconds.

Eluria is pre-certified LEED (Leadership in Energy and Environmental Design) Gold and holds WELL, BERDE, and EDGE (Excellence in Design for Greater Efficiencies) certifications.

Its key sustainability features include optimized natural light, water harvesting and reuse, smart contactless technologies, and pre-equipped electric vehicle charging stations. The tower also has a potager garden for residents seeking accessible produce.

Mr. Chan also noted that Eluria is unaffected by the condominium oversupply in Metro Manila, which is more concentrated in areas outside central business districts like Makati.

“In terms of the impact of what they call the oversupply of the mid-market segment, Eluria is completely separate from that.” — Beatriz Marie D. Cruz

Alternergy to develop wind power project in Albay

ALTERNERGY.COM

RENEWABLE energy developer Alternergy Holdings Corp. will develop a new onshore wind power project in Albay after securing a permit from the Department of Energy (DoE).

The DoE awarded a Certificate of Authority (CoA) to Alternergy Wind Holdings Corp. (AWHC), the wind sub-holding company of Alternergy, allowing it to undertake the exploration and assessment of wind resources for the project. 

“Alternergy is pleased to receive the DoE’s approval to develop another wind project in Luzon,” said Knud Hedeager, president of AWHC.

“The CoA framework is a landmark policy initiative by the current DoE under Energy Secretary Raphael Lotilla. It supports developers from the onset, thereby helping mitigate project risks and enhance overall project viability,” he added. 

Spanning 6,318 hectares, the prospective project is expected to generate at least 150 megawatts (MW), forming part of Alternergy’s next pipeline of projects beyond its 500-MW target by 2026.

“This is an exciting time for us as we are set to complete construction of our Tanay and Alabat wind power projects this year, after which Alternergy will move forward with developing new wind projects,” said Mr. Hedeager.

Under the permit, AWHC has three years to complete pre-feasibility studies and secure permits from government agencies, the company said. If the project site is deemed commercially viable, the CoA will be converted into a 25-year wind energy service contract. 

The Albay wind power project will be Alternergy’s fifth wind development, following its 33-MW Bangui Bay wind farm in Ilocos Norte and 54-MW Pililla wind farm in Rizal. Currently, Alternergy is developing two wind projects in Tanay, Rizal, and Alabat, Quezon, with potential capacities of 128 MW and 64 MW, respectively. 

The company aims to develop up to 500 MW of additional wind, solar, and run-of-river hydro projects. — Sheldeen Joy Talavera

Globe sells 51% of Yondu stake to NCSI

BW FILE PHOTO

GLOBE TELECOM, Inc. has entered into a joint venture with Singapore-based NCSI Holdings Pte. Ltd. (NCSI) by selling a 51% stake in its subsidiary Yondu, Inc.

In a stock exchange disclosure on Thursday, the Ayala-led telecommunications company said it had agreed to sell 51% of its stake in Yondu to NCSI. 

Globe said the resulting joint venture will have an enterprise value of P1.87 billion.

Under the agreement, NCSI will acquire Yondu shares from Globe and subscribe to new shares in Yondu. This transaction will result in NCSI obtaining 51% ownership, while Globe will retain a 49% stake.

Yondu, a unit of Globe, is an information technology (IT) solutions provider in the country.

Globe also said Yondu is set to acquire NCSI Philippines (NCSI PH) from NCSI, making it a wholly owned unit of Yondu. 

“Our vision for Yondu is to be a force for good through effective IT products and services. Partnering with NCS will unlock new global opportunities, enabling Yondu to expand its reach and deliver more impactful IT solutions worldwide,” Globe President and Chief Executive Officer Ernest L. Cu said. 

NCS, a subsidiary of Singtel Group, is a technology services firm with a presence in the Asia-Pacific region. It partners with governments and enterprises to advance communities through technology.

At the stock exchange on Thursday, shares in the company closed at P2,194 apiece, up P32 or 1.48%. — Ashley Erika O. Jose

PLDT, Smart adopt policies to protect biodiversity amid expansion

BW FILE PHOTO

PANGILINAN-LED PLDT Inc. and its wireless unit Smart Communications, Inc. have established policies to conserve biodiversity and support nature-based solutions as the company expands its network infrastructure.

“As we work to connect more Filipinos through technology, we also recognize our responsibility to care for the environment. The Philippines is one of the most biodiverse countries in the world, and having strong policies in place helps ensure that we grow our business in a way that also protects our natural resources,” PLDT and Smart Communications Chairman and Chief Executive Officer Manuel V. Pangilinan said in a statement on Thursday.

PLDT said these biodiversity policies were guided by the Department of Environment and Natural Resources and assessed based on their business impact.

PLDT and Smart have both established biodiversity policies to ensure that no trees are cut down while also offsetting losses from business activities through tree planting, replacement, or other reforestation projects.

The company said these policies will allow PLDT and Smart to integrate protection measures and minimize other potential environmental impacts of their business operations and value chain activities.

“We continue to future-proof both the business and the planet by identifying opportunities to embed sustainability in our operations. These PLDT and Smart Biodiversity Policies aim to institutionalize further responsible business practices, particularly those related to permitting network rollouts, regulatory compliance, and operational risk management measures,” said PLDT and Smart Chief Sustainability Officer Melissa Vergel de Dios. 

Last year, PLDT secured a P2-billion social loan to expand its fiber network and a P1-billion green loan for network upgrades and expansion. 

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

Pinning down the voice of a known orator

BENJAMIN ALVES hosting the launch event of Benjamin Barker at Rustan’s Department Store in Shangri-La Mall. — OFFICIAL PHOTO SHARED ON MR. ALVES’ INSTAGRAM (INSTAGRAM.COM/BENXALVES)

Benjamin Alves talks Manuel L. Quezon

QUEZON, a historical biopic about Philippine President Manuel L. Quezon (MLQ), is currently in production. It follows the life of the lawyer, soldier, and orator who became the President of the Commonwealth of the Philippines from 1935 to 1944.

Playing him has been a fun challenge so far for Benjamin Alves, who plays the young Quezon in the film. In between shooting days, he hosted the launch of menswear brand Benjamin Barker at Rustan’s Department Store in Shangri-La Mall on March 26. BusinessWorld spoke to the actor on the sidelines of the event.

“They wanted me to do the Quezon voice while hosting, but I didn’t want to reveal that just yet,” he said. Aside from the voice, his classic suit and combed-back hair during the event gave him the exact MLQ look.

Mr. Alves is taking on the role for the third time, having previously played the president in two previous installments of TBA Studios’ “Bayaniverse” series of historical films: Heneral Luna (2015) and Goyo: Ang Batang Heneral (2018). Quezon is said to be the final film in the trilogy.

“There was a long gap between Goyo and Quezon, so it’s nice [to be back],” he said. “On set we call it our “last dance” because it’s going to be our [last] time filming together.”

He revealed that he has been attending workshops with Jericho Rosales, who plays the older Quezon, and director Jerrold Tarog, where they’ve been working on getting the former president’s voice right.

Compared to the subjects of the previous biopics, Antonio Luna and Gregorio del Pilar, whose only surviving visual records are photographs, there is video of Manuel L. Quezon speaking and moving.

“It’s harder for us because we have to study him and the speeches that he’s known for,” Mr. Alves explained. “We went through all his famous speeches. Without giving away too much, the vigor and passion of Quezon as an orator is very much present in the film.”

He added that Quezon will pick up right where Goyo left off, covering not only Quezon’s rise as a politician, but also the tumultuous campaign against Emilio Aguinaldo in his later years.

“It’s not only Quezon’s story. Aguinaldo is very much a part of it. Some may argue that it’s a trilogy for Aguinaldo, and Mon [Confiado] is playing him impeccably,” Mr. Alves said, referring to their characters’ banter based on script readings so far.

The actor also mentioned a figure in the movie that he said “seems like [he] could be the next lead [in a historical movie],” although Quezon has been confirmed to be the final film in the “Bayaniverse.”

Other cast members in Quezon include Karylle Tatlonghari as former first lady Aurora Quezon, Romnick Sarmenta as Vice-President Sergio Osmeña, JC Santos as Manuel Roxas, and Cris Villanueva as the older Joven Hernando, who is the only fictional character in the series.

Notably, Game of Thrones actor Iain Glen plays Leonard Wood, a US Army major who became governor-general of the Philippines.

“He just has an aura, and his scenes are great. The team were all smiling during his scenes,” Mr. Alves said.

He told BusinessWorld that the goal is for Filipinos to watch Quezon in the cinemas. “The script is so much fun. And if you wait for it to come out on, like, Netflix, you won’t get the full experience.”

Quezon is slated for release in late 2025. — Brontë H. Lacsamana

BPI starts offering of 5-, 10-year dollar bonds

BANK of the Philippine Islands (BPI) on Thursday kicked off its offering of dual-tenor dollar-denominated bonds from which it is looking to raise at least $300 million.

The bank is offering five- and 10-year Regulation S senior unsecured fixed-rate notes, it said in a disclosure to the stock exchange.

“The notes will be issued via one or more drawdowns under BPI’s $3-billion medium-term note program and will be listed on the Singapore Exchange Securities Trading Ltd. (SGX-ST). Pricing of the notes is expected within the day,” it said.

BPI will settle and list the bonds on the SGX-ST on April 7.

The five-year bonds are targeted to be priced at 130 basis points (bps) above the five-year US Treasury yield, while the initial price guidance for the 10-year notes is at 115 bps above the rate of the corresponding US Treasury benchmark.

Proceeds from the issuance will be used “for refinancing and general corporate purposes,” the bank said.

BPI earlier said it is looking to raise at least $300 million via the offer. The offering comes after the bank held a series of meetings with fixed income investors on Wednesday.

The bonds will be sold at a minimum investment amount of $200,000 and in denominations of $1,000 thereafter.

BPI Capital Corp. is the sole global coordinator for the issue. It is also part of the joint bookrunners for the transaction, along with BofA Securities, Inc., The Hongkong and Shanghai Banking Corp. Ltd., JPMorgan Chase & Co., and UBS AG.

BPI tapped SyCip Salazar Hernandez & Gatmaitan as its legal adviser as to Philippine law, while the joint bookrunners’ counsel is Romulo Mabanta Buenaventura Sayoc & de los Angeles.

Meanwhile, Milbank (Hong Kong) LLP is the legal adviser of the joint bookrunners for English law.

S&P Global Ratings on Wednesday assigned a “BBB+” long-term issue rating to the bond offer, which is in line with BPI’s issuer rating.

BPI last issued dollar bonds in March 2024, which marked its return to the offshore market after five years. The bank raised $400 million from an offering of senior unsecured five-year notes, higher than the initial $300-million plan, as tenders reached $1.3 billion.

The Regulation S bonds were also issued out of BPI’s medium-term note program and were priced at 5.25%. They were likewise listed on the SGX-ST.

BPI’s attributable net income rose by 20.04% to a record P62.05 billion last year from P51.69 billion in 2023 as increases in both its net interest and non-interest income led to double-digit revenue growth.

The bank’s shares went down by 30 centavos or 0.22% to close at P134.50 apiece on Thursday. — Aaron Michael C. Sy

Araneta group taps MPower for power supply

Present during the ceremonial signing recently held at the ibis Styles Araneta City were (L-R) MPower Head of Commercial Operations Ray Fabros, MPower Senior Assistant Vice-President and Retail Sales Head Eddie John Adug, MPower First Vice-President and Head Redel M. Domingo, Novotel and ibis Styles Manila Cluster General Manager Maria Manlulu-Garcia, ACI, Inc. Senior Vice-President of Operations Antonio Mardo, and ACI, Inc. Senior Vice-President of Business Development John Castelo.

MPOWER, the local retail electricity supplier of Manila Electric Co. (Meralco), has entered into a new retail power agreement with the Araneta group to supply electricity to its newest hotel.

In a media release on Thursday, MPower said it has renewed its contract with ACI, Inc. to power its buildings in Quezon City and cover the power requirements of ibis Styles Manila.

ACI is the corporate unit that owns and manages Araneta City, a mixed-use development with retail, entertainment, residential, and office spaces, while Araneta Hotels focuses on developing and managing hospitality ventures within the district.

“The Araneta group is committed to excellent customer service and operational efficiency. Our long-time partnership with MPower secures a reliable energy supply across our multiple properties, allowing us to deliver the highest level of service to our guests,” said Maria Manlulu-Garcia, general manager of Novotel & ibis Styles Manila. 

ACI has been a partner of MPower since the latter began operations in June 2013. In 2018, MPower was also tapped to supply electricity to Araneta Hotels, Inc.

“The enduring partnership and trust given to us in powering Araneta City inspire MPower to continuously explore new avenues for growth and innovation, ensuring we deliver even greater value to our partners,” said Meralco First Vice-President and MPower Head Redel M. Domingo. 

Under the Competitive Retail Electricity Market (CREM), qualified power customers consuming at least 500 kilowatts are allowed to choose their energy supplier based on their specific requirements.

MPower recently entered into retail supply agreements with Megasoft Hygienic Products, Inc., Mega Land Prime Estate Corp., SM Retail, Inc., and ABS-CBN Corp. to support the power needs of their facilities.

The company serves contestable customers, including top corporations within Meralco’s franchise area. It holds more than a 25% share of the CREM within Meralco’s franchise area.

Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by 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

Facets of a woman the focus of Project Headshot photo exhibit

RFLXN photos and videos on Project Headshot Clinic’s page on Instagram. — INSTAGRAM.COM/HEADSHOTCLINIC

INNER STRENGTH, vulnerability, and versatility are the aspects of women that people must see, said Filipina leaders at the launch of a photo exhibit commemorating International Women’s Month.

Project Headshot Clinic organized the shoot that showcases the faces of over 20 different women, each with their own successful business or advocacy. The exhibit, titled RFLXN: The Many Faces of a Woman, was launched on March 26 at the Shangri-La Mall in Mandaluyong City.

The event also marked Project Headshot Clinic’s 18th anniversary as a digital platform that utilizes thematic headshots to further advocacies.

Niccolo Cosme, its founder and creative director, told BusinessWorld that the theme was inspired by the different facets of a woman.

“I really believe that each facet should be celebrated,” he said. “When we were shooting it, I was directing it in such a way that was empowering for them, telling them to appreciate their own beauty, their strength, their courage. Most of them said it was therapeutic at some point, and very reflective, hence the title of the show.”

The photoshoot utilized a mirror installation designed and built by Mykefrancis Oropesa Mayores, in collaboration with DHB Glasses and Mirrors.

Mr. Cosme noted that the hazy effect of the photos was not due to a digital filter, but an acetate placed on the lens to mimic haze.

“It’s not Photoshopped at all. I wanted to veer away from our usually highly digital work, and stay true to the photography itself. I made sure the experience the women had during the shoot was special and intimate, in a confined space surrounded by black walls,” he said.

The photographs on display at the East Wing Atrium of Shangri-La Mall have a QR code next to them, where mallgoers can access videos with music to get a full glimpse of the women in motion.

Most importantly, the QR code also links to the advocacies of the women.

Bea Rose Santiago, who was Miss International 2013, said at the launch that she carried not just the mantle of a beauty queen, but is a kidney failure survivor.

“We celebrate every version of us. As a beauty queen, I once stood on stage with a crown, but life had other plans. I faced kidney failure, a battle that tested my spirit and self-worth. Now, I’m celebrating the third year of my kidney anniversary, a living testament of resilience, second chances, and the power of a woman who refuses to give up,” she said.

Pinay Girlboss, the partner community of the exhibit, is an online platform that educates women on skills for personal and professional growth through courses and workshops.

“We want people to share the messaging that each of these faces are embodying,” said Marie Field Faith, Pinay Girlboss’ founder. “We even have Bai Rohaniza ‘Honey’ Sumndad-Usman, who is so brave to be teaching in conflict areas.”

Ms. Sumndad-Usman is not only a Maranao princess, but she also founded the Teach Peace Build Peace Movement in Mindanao. She said that empowering initiatives should not be confined to Women’s Month, with “many women in a never-ending battle all year long.”

Phoebe Fructuoso, another strong leader of an advocacy, also got her headshot for the exhibit. She founded PAVE Philippines (Promoting Awareness & Victors Empowerment), a non-profit organization dedicated to end rape culture and promote mental health awareness among gender-based violence survivors.

“The fight to end gender-based violence is on all of us. Every voice raised and every action taken brings us closer to a world where women no longer have to fight for safety and dignity,” she said.

Mr. Cosme told BusinessWorld that he is proud of the 18 years that Project Headshot Clinic has spent using photography to push important messages. The first campaign they did was for World AIDS Day back in 2008.

“During its inception, I wasn’t very sure what it was. All I knew was that I wanted to take pictures of people,” he explained. “I realized that it can’t be popular, or just about vanity or style. I felt like there has to be some sort of weight, some purpose. Now, we’re doing it for women.”

RFLXN: The Many Faces of a Woman runs at Shangri-La Mall’s East Wing Atrium until March 30. — Brontë H. Lacsamana

Seth Rogen’s The Studio makes Hollywood insiders of us all

By Esther Zuckerman

TV Review
The Studio
Apple TV+

FOR THOSE of us who spend our days thinking about movies (and the industry that makes them), there are plot lines in Apple TV+’s new series The Studio that can feel a little too real.

Take for instance the pilot: Matt Remick, played by Seth Rogen, a co-creator of the show, is appointed the head of the fictional Continental Studios. Matt is a corporate stooge who thinks of himself as a guy who loves the art of film, so when his boss (Bryan Cranston) demands he make a movie about the Kool-Aid man, Matt goes ahead and tries to recruit Martin Scorsese (who actually cameos) to direct. The plan fails spectacularly.

Matt’s attempt to have it both ways is disastrously funny, thanks to highbrow gags about Scorsese’s work and the sheer fun of watching an anxious Rogen get humiliated. It’s also painfully real: Art dies in the face of commerce, in this fictional Hollywood as well as in the real one.

Rogen co-directed every episode with his longtime creative partner, Evan Goldberg; they and their fellow writers, Peter Huyck, Alex Gregory, and Frida Perez, stylishly mine humor from the pain of the movie business. The question is: Will anyone outside the industry care? I’m biased, but I think so.

That’s because the creators have figured out a way to mix their satire with a snappy, broadly appealing energy centered around physical comedy and antic set pieces.

Yes, The Studio features a lot of in-the-know talk about the scoop-hungry Hollywood journalist Matt Belloni of Puck News, but it also has Rogen pratfalling, a ton of cursing and people getting way too high on mushrooms — you know, the kind of goofy stuff that’s been a staple of the star’s milieu for years.

As much as The Studio is about movies and the people who love and make them, it also understands that its medium is television. Unlike most shows these days, its structure is genuinely episodic. Each half-hour finds Matt getting himself into a new scrape, which keeps the action zipping right along and ensures no setup gets tired.

After pissing off Marty, Matt pivots to enraging director Sarah Polley (likewise playing herself) in the second episode, titled “The Oner.” Matt is on set to observe Polley direct what is supposed to be the bravura tracking shot at the end of her latest movie, which stars Greta Lee of Past Lives. Matt, a ball of nerves who mistakenly believes his filmmaking opinions matter, keeps messing everything up.

Cleverly, the entire episode is also shot in a “oner,” one continuous take executed beautifully by cinematographer Adam Newport-Berra. Newport-Berra’s work is key to the entire affair, giving it an intentionally retro ’70s vibe that evokes the days of Robert Evans even though the jokes are about artificial intelligence and Amazon takeovers. (The Studio wears its influences on its sleeve: Cranston’s chief executive officer, Griffin Mill, shares the same name as Tim Robbins’ character in Robert Altman’s The Player.)

Matt is surrounded by an eccentric group of fellow execs, including his bro-y buddy Sal (Ike Barinholtz), who only cares about the bottom line, and his acolyte Quinn (Chase Sui Wonders), who wishes she were working at a cooler place, like A24. Catherine O’Hara, meanwhile, is a dizzy delight as the executive Matt replaced, now bitterly working as a producer, and Kathryn Hahn barrels into scenes in an array of tacky, animal-print clothing as marketing guru Maya. 

Pretty much every episode features at least one major guest turn from a star playing a version of him or herself. (When Rebecca Hall shows up and isn’t playing Rebecca Hall, it’s genuinely disorienting.) The famous people who’ve joined Rogen and Goldberg’s circus include Olivia Wilde, Zac Efron, Anthony Mackie, Dave Franco, Ice Cube, and Zoë Kravitz. Kravitz’s performance in the finale is arguably the most fun of the bunch — she really lets loose.

All these appearances could feel lazy on the part of The Studio — and occasionally I did get distracted trying to figure out how each person is connected to the actual Rogen — but they go a long way to rooting this fictionalized Hollywood in reality. That’s because the show also cleverly features filmmakers who aren’t as recognizable, like Owen Kline, who made the critically acclaimed but little seen indie Funny Pages. He plays himself, flummoxed by the crass questions of the profit-obsessed businessmen.

The Studio has its hangups. It has to walk a fine line between being too inside-baseball and just knowing enough, and as a result its dialogue can sometimes feel a little obvious to, well, people like me. The characters overly explain terms their real life counterparts wouldn’t have to describe. And Matt is a little too hangdog, a little too likable, a little too much of a Seth Rogen type to be fully believable as the kind of exec who would rise through the ranks in this town. Anytime Matt shows a hint of braggadocio, it inevitably fades in the face of a new crisis, as Rogen’s character has to fight to extricate himself from the situation with his dignity intact. (His dignity is rarely spared.)

Although Matt’s principles are thin and he’s quick to cave to the demands of the market, you ultimately root for him. He does seem to have a nostalgic notion of the magic of the movies, even as he’s selling his soul to make IP slop. A studio exec worth cheering for? Now that’s a fantasy. — Bloomberg