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Teener Canino leads Far Eastern University team at Bangkok Open

REULLE CANINO — FACEBOOK.COM/NCFPCHESS

TEEN chess wonder Reulle Canino tries to reach new heights as she spearheads the Far Eastern University (FEU) team in the Bangkok Open set April 13 to 21 at the Sheraton Hua Hin Resort and Spa in Phetchaburi, Thailand.

Fresh from defying overwhelming odds by topping the National Women’s Championships in Malolos City, Bulacan last month, the 15-year-old prodigy from Cagayan de Oro will pursue the Woman International Master  (WIM) title and eventually the Woman Grandmaster (WGM) title just like her idol and mentor — FEU alumna Janelle Mae Frayna.

Ms. Canino earned a spot as the national women’s team’s youngest member in the FIDE World Chess Olympiad in Budapest, Hungary this September.

But first, Ms. Canino said she has to continue competing and Bangkok will be the first of many she will participate in to achieve her goals.

There, she will be joined by FEU teammates Vic Glysen Derotas, Mary Joy Tan, Mhage Gerriahlou Sebastian, Bea Mendoza, Jasmine Rizalyn Tejada, Shaina Magne Romanillos, Franklin Lloyd Andes, Jerish John Velarde, Oscar Joseph Cantela, Lemuel Jay Adena, Ritchie James Abeleda, Zeus Paglinawan, Samantha Umayan, April Joy Claros, Kate Nicole Ordizo and Arleah Cassandra Sapuan.

“This is part of the advocacy FEU and I are trying to do, produce future champions,” said FEU and national women’s team coach GM Jayson Gonzales, whose trip is backed by FEU Chair Aurelio “Gigi” Montinola, President Juan Miguel Montinola, Manila athletics director Mark Molina and Diliman executive director Dr. Armi Cunanan-Yabut.

Apart from Ms. Canino, FEU has also produced national champions and Grandmasters like Mr. Gonzales himself, Bong Villamayor and WGM Janelle Mae Frayna. — Joey Villar

PBA balance of power: The fall of perennial forces and rise of promising ones

PBA.PH

THE BALANCE of power in the Philippine Basketball Association (PBA) has tilted — at least for now.

But instead of just one or two teams, the command has spread to almost every team with now a surprising equilibrium among the 12 houses midway through the Philippine Cup with the fall of perennial forces and rise of promising ones. “I’ve said this before and I’ll say it again, all of the teams have upgraded,” said Chot Reyes, whose mighty TNT Tropang Giga now just lurks in the middle pack with a 3-3 slate.

“For TNT, we’re no longer the mighty TNT. The sooner we accept that fact, the better it is going to be for us. We cannot win games on talent alone. We have to outwork and outhustle every team we play,” he said after bowing to Blackwater and NorthPort before beating Meralco, 92-90.

As expected, reigning champion San Miguel sits on top of the echelon with a perfect 4-0 slate but the teams chasing behind are suddenly the unheralded ones.

Blazing NLEX (5-1) and NorthPort (4-1), with its franchise-best longest streak in the Philippine Cup at four wins, lurk at second and third while the usual lottery squad Terrafirma, on the heels of a 91-85 win over superpower Ginebra, is at No. 4 with a 4-3 slate.

That’s only the second win of Terrafirma over Ginebra in 23 meetings since PBA entry in 2014 to already equal its most number of wins under coach Johnedel Cardel while previous cellar-dweller Blackwater (3-3) that rode on a historic 3-0 start before losing three straight is at No. 5.

Trailing behind are regular contenders TNT (3-3), Ginebra (3-3), Meralco (3-4) and Rain or Shine (3-4) as Commissioner’s Cup finalist Magnolia (1-2) and semifinalist Phoenix (1-4) plunged to the bottom with winless Converge (0-6).

It’s a free-for-all jungle and no team is already a pushover. All teams want the smoke and are out for blood, according to Rain or Shine mentor Yeng Guiao amidst their three-game winning streak in a similar run like last year from a 0-5 start.

And the journey is about to get tougher from here on. — John Bryan Ulanday

FEU Lady Tamaraws shoot for spot at UAAP Final 4 against AdU Lady Falcons

FEU LADY TAMARAWS — UAAP MEDIA TEAM/ JULIUS DOMONDON

Games Tuesday
(Smart-Araneta Coliseum)
10 a.m. — AdU vs FEU (men)
12 noon — DLSU vs UE (men)
2 p.m. — AdU vs FEU (women)
4 p.m. — DLSU vs UE (women)

FAR Eastern University (FEU) tries to widen its gap from multiple chasers for the coveted fourth spot while Adamson University (AdU) wants to stay in the thick of the race when they figure in a crucial duel in the University Athletic Association of the Philippines (UAAP) women’s volleyball tournament Tuesday at the Smart-Araneta Coliseum.

The Lady Tamaraws hold an inside track to the last Final Four slot by a favorable margin with a 5-4 slate and they are not keen on allowing others to get closer, starting against the Lady Falcons (2-7).

Game time is at 2 p.m. before defending champion and semifinal-bound De La Salle University (DLSU), possibly without reigning MVP Angel Canino, beefs up its twice-to-beat bid against another Final Four hopeful University of the East (2-7) at 4 p.m.

DLSU (8-1) and National University (8-2) along with pacer University of Santo Tomas (9-1) have booked the first three Final Four tickets, leaving one final slot up for grabs among FEU and three other contenders including UE and Ateneo de Manila University (2-7).

The magic number to the Final Four is with seven wins, not leaving FEU out of the woods just yet even if it manages to squeak past AdU for a potential 6-4 slate.

That would mean Adamson, UE and Ateneo still sporting slim chances to get to six wins as well, given FEU’s shutout the rest of the way.

But a win now would push the Lady Tamaraws closer. And it’s here for the taking.

“That’s the goal,” said FEU mentor Manolo Refugia.

Good thing for the Lady Tamaraws, they will have a 25-13, 25-22, 25-17 win over the Lady Falcons in the first-round meeting to bank on to complete the head-to-head sweep. — John Bryan Ulanday

Red Bull half court’s first Davao champions headed to conquer national finals in Manila

BLANCAS GOLDEN KNIGHTS — KENTOY FILMS

IN a showdown of talent and tenacity, the Red Bull Half Court Qualifiers in Davao reached its thrilling conclusion. Blancas Golden Knights dominated the men’s division, while Coaches Corner showcased their supremacy in the women’s category, commanding the court with their exceptional skill and determination. From buzzer-beaters to jaw-dropping crossovers, the event witnessed the best of Davao’s streetball scene — crowning Davao’s first-ever Red Bull Half Court champions.

Rising stars emerged, leaving an indelible mark on the court and setting the stage for an electrifying journey ahead. The victorious teams from Davao now advance to the National Qualifiers, where they will face off against other regional champions from across the country alongside wildcard teams consisting of professional players to make the competition more intense.

Meanwhile, despite training individually during their preparation, the winning team in the Women’s Division attributed their triumph to their exceptional teamwork.

The stakes are high as they compete for a coveted spot in the Red Bull Half Court World Finals, set to take place in the basketball mecca of New York City.

Cemented by their recent triumphs, Blanca, UMTC – 3, and Coaches Corner will go to the National Finals. With their skills honed and their spirits unwavering, they stand ready to represent the Davao region at the Red Bull National Finals on April 27, 2024.

PLDT High Speed Hitters eye share of lead in PVL against SGA

PHILSTAR FILE PHOTO

Games Tuesday
(PhilSports Arena)
4 p.m. — Farm Fresh vs Nxled
6 p.m. — PLDT vs SGA

PLDT aims to reclaim a share of the lead with Choco Mucho as the former tackles Strong Group Athletics (SGA) Tuesday in the Premier Volleyball League (PVL) All-Filipino Conference at the PhilSports Arena.

The High Speed Hitters nailed their fourth straight win at the expense of the Akari Chargers, 25-17, 25-20, 25-19, last week to improve to 6-1 and they could extend their streak to five and jump to the top alongside the Flying Titans (7-1) if they could hurdle the SGA Spikers (0-7) in their 6 p.m. duel.

Majoy Baron should ride the crest of her match-high 13-points effort in their last win and pointed to her finally adjusting to the team’s style of play. Fighting for semifinal survival are Nxled and Farm Fresh, who have identical 2-5 records and would face off at 4 p.m.

The Chameleons were coming off a rousing triumph over the SGA Spikers, 25-16, 25-16, 25-15, while the Foxies were reeling from a 25-10, 25-14, 25-15 defeat to the Cignal HD Spikers both Thursday. — Joey Villar

Liverpool needed late goal from Salah to draw 2-2 with Man Utd

MANCHESTER, England — Mohamed Salah scored a late equalizer from a penalty kick as Liverpool escaped Old Trafford with a single point in a 2-2 draw with Manchester United to climb to even on points with Premier League leaders Arsenal.

Mr. Salah stroked home in the 84th minute for his sixth league goal at Old Trafford, the most of any visiting player in the league’s history, overtaking Steven Gerrard’s five.

With seven games remaining in the neck-and-neck title race, Liverpool and Arsenal have 71 points with the Gunners leading on goal difference. Holders Manchester City are third on 70 points, while United are sixth with 49.

“It feels like a loss, it is our fault again,” Liverpool skipper Virgil van Dijk told the BBC. “We had so many chances and we should finish the game off.”

Luis Diaz got Liverpool on the scoreboard in the 23rd minute when Dominik Szoboszlai swung in a corner that Darwin Nunez headed to the unmarked Colombian who hooked in a volley from close range.

WILD GOAL
But Bruno Fernandes scored a wild goal — the United skipper’s 50th league goal for the side — with their first shot on target in the 50th minute when he latched on to a loose Liverpool pass and lobbed the ball from the centre circle past keeper Caoimhin Kelleher.

Kobbie Mainoo had the Old Trafford faithful roaring with his rocket from just inside the 18-yard box that sailed into the far top corner in the 67th minute.

Mr. Mainoo was the first 18-year-old to score a league goal against Liverpool since Cesc Fabregas for Arsenal in 2005, and the delighted teenager sprinted to the corner flag to salute the crowd in celebration.

“It’s an unbelievable feeling to score my first Old Trafford goal and to do it in this fixture was even more special,” Mr. Mainoo told Sky Sports, adding that he was disappointed about the result.

“We didn’t get the three points and that’s the main thing. I think we performed really well in the second half. The lads made minor mistakes and if we iron them out then we win the game.”

MIXED EMOTIONS
Liverpool were awarded their penalty when Harvey Elliott was taken down in the box.

It was the second time in recent weeks that Erik ten Hag’s team had struck a blow against Liverpool, dispatching them from the FA Cup with a dramatic 4-3 quarter-final home win in extra time last month.

But it was also the third consecutive game that United had given up late goals, in a 1-1 draw at Brentford and 4-3 loss at Chelsea.

“Very mixed emotions,” Mr. Ten Hag said. “On one side I am disappointed that we have dropped seven points in one week after being in winning positions, but we have to blame ourselves for making stupid mistakes.

“On the other side I am very proud. You see how we are improving and the potential of this squad is amazing.”

The match marked the first time Liverpool had failed to win a league game in which they held a lead since October against Brighton.

“We should have won the game, that is clear,” Liverpool manager Juergen Klopp told Sky Sports. “We should have had other goals in the first half already. As far as I’m concerned, we have a point more than we did before. They put an extra shift in, that’s how it is.

“We don’t have many home games left. The team who wins the league in the end should deserve it. We are in the race and I’m absolutely fine with it.”

POSSESSION
Liverpool dominated with 62.1% possession and 28 shots to the home side’s nine. They kept Manchester United to zero shots on target in the first half of a league match for the first time since April 2022, also against Liverpool.

Alejandro Garnacho briefly had the United crowd on their feet with a goal in the second minute but it was chalked off for offside.

United have won just one of their past 12 Premier League games against Liverpool — this fixture last season. — Reuters

How 3 European human rights cases could shape climate litigation

A VIEW of a pole to measure the decrease of ice is amid climate change on the Plaine Morte glacier in Crans-Montana, Switzerland, Sept. 5, 2023. — REUTERS

LONDON — Does government inaction on climate change violate human rights? 

That is the question the European Court of Human Rights will for the first time seek to answer in Strasbourg, France, as it rules this week on three separate climate cases.

The verdicts will set a precedent for future litigation on how rising temperatures affect people’s right to a liveable planet.

The following lays out what is at stake.

WHAT ARE THE LAWSUITS?
Six Portuguese youths are suing 32 European countries for allegedly failing to avert catastrophic climate change that they say threatens their right to life. 

The case, which has been described by experts as “David v. Goliath”, does not ask for financial compensation, but for governments to drastically cut emissions.

At the same time, thousands of elderly Swiss women have argued that their government’s “woefully inadequate” efforts to fight global warming put them at risk of dying during heatwaves.

The women’s lawyers are seeking a ruling that could force Bern to cut carbon dioxide emissions much faster than planned.

In the third and final case, Damien Carême, a former mayor of the French commune of Grande-Synthe, is challenging France’s refusal to take more ambitious climate measures.

WHAT RIGHTS MAY HAVE BEEN VIOLATED?
This will be the first time the European Court rules on whether allegedly weak climate change policies infringe on people’s human rights enshrined in the European Convention.

The Portuguese youths have argued their right to life is threatened by climate change-driven events such as wildfires, and that failure to tackle climate change particularly discriminates against young people who face the prospect of an increasingly unliveable planet.

The Swiss women have said Bern violated their right to life by failing to cut emissions in line with a pathway that limits global warming to 1.5°C (2.7°F).

Their case cites a United Nations Intergovernmental Panel on Climate Change report that found that women and older adults were among those at highest risk of temperature-related deaths during heatwaves and uses the applicants’ medical records to show their vulnerability.

Mr. Carême’s application, made in 2019, will assess whether insufficient government action can amount to a violation of the right to life, by exposing people’s homes to climate risk.

“We all are trying to achieve the same goal,” said 23-year-old Catarina Mota, one of the Portuguese youths. “A win in any one of the three cases will be a win for everyone.”

WHAT COULD THE RULINGS BE?
The 17-judge panel could issue very different verdicts for each case. The rulings cannot be appealed.

“The three cases are quite distinct in terms of who’s bringing the case, which government or governments is being sued, and what the ask is in the case,” said Lucy Maxwell, co-director of the Climate Litigation Network.

Some of the involved governments have argued the cases are inadmissible. Switzerland has said it is not Strasbourg’s job to be “supreme court” on environmental matters or to enforce climate treaties.

The court may decide a case is too difficult to fit within the existing framework of the Court and needs to be decided at a national level, Maxwell said. The latter is a common outcome that could give a boost to national accountability. 

“The European Court may issue a declaration that those governments have not complied with their human rights obligations because their 2030 targets are too weak and not in line with science,” she said.   

WHAT CAN A RULING AGAINST GOVERNMENT ACHIEVE?
A ruling against the Swiss or Portuguese government would “send a clear message that governments have legal duties to significantly increase their efforts to combat climate change in order to protect human rights,” Ms. Maxwell said.

This should result in those countries revising their 2030 emissions reductions targets.

If countries do not update their targets, further litigation could be carried out at the national level and courts could issue financial penalties.

Any failure of governments to comply with domestic court orders “sparks major rule of law issues,” Ms. Maxwell said.

“We rely on the compliance of governments with national court orders.”

HOW WILL THE RULINGS SET A LEGAL PRECEDENT?
A regional human rights court has never before ruled on climate cases, and the verdicts are likely to be game-changing.

“If successful… it would be the most important thing to happen for the climate in Europe since the Paris Agreement because it kind of has the effect of a regional European treaty,” said Ruth Delbaere, a senior legal campaigner for civic movement Avaaz, which has helped to raise funds to cover the Portuguese youth’s legal fees.

All three cases are being decided by the court’s top bench — known as the Grand Chamber — where only cases that raise serious questions about the Convention’s interpretation are sent.

The cases’ outcomes will therefore serve as a blueprint for both the Strasbourg court and national courts considering similar cases.

Gerry Liston, a senior lawyer arguing the Portuguese case, said “the most impactful outcome” would be a ruling that binds the 32 countries that are Europe’s major emitters. They include the European Union and neighboring countries.

But a ruling against even just one country could be applied as precedent against all 46 signatories of the European Convention.

A win could embolden more communities to bring similar cases against governments. Equally, a loss for the claimants could deter future legal action.

Six other climate cases have been put on hold by the Strasbourg court pending Tuesday’s three rulings, said Joie Chowdhury, a senior attorney at the Center for International Environmental Law.

These include a lawsuit against the Norwegian government that alleges it violated human rights by issuing new licences for oil and gas exploration in the Barents Sea beyond 2035.

Whatever happens this week will also have influence beyond Europe’s borders, Ms. Maxwell said.

Courts in Australia, Brazil, Peru and South Korea are considering human rights-based climate cases.

“They will be looking at what happens in Europe and there will be ripple effects well outside,” she said. — Reuters

SpaceX launches S. Korea’s 2nd spy satellite amid race with North

SPACEX.COM

SEOUL — South Korea’s defense ministry said on Monday the country’s second homegrown spy satellite had entered orbit after its launch on a SpaceX Falcon 9 rocket from the John F. Kennedy Space Center in Florida.

The launch, which comes after Seoul’s first spy satellite was put into orbit from California’s Vandenberg Space Force Base in December, was livestreamed on social media platforms X and YouTube.

The Falcon 9 rocket was launched at 2317 GMT on Sunday and the satellite successfully separated from the launch vehicle 45 minutes later and entered its targeted orbit, the ministry said in a statement.

It made successful communications with a ground station about two hours and 40 minutes after the launch, the ministry added.

The back-to-back launches of reconnaissance satellites come amid a race against North Korea for military capabilities in space.

After two earlier attempts ended in rocket crashes, Pyongyang said in November last year that it used its own Chollima-1 launch vehicle to place the Malligyong-1 reconnaissance satellite in orbit.

North Korea has previously vowed to launch three new spy satellites in 2024.

South Korean Defense Minister Shin Won-sik told reporters that North Korea could launch a second spy satellite as early as in mid-April, the Yonhap news agency reported.

Mr. Shin’s comment was based on the military’s observation of North Korea’s related activities, South Korean defense ministry spokesman Jeon Ha-gyu told a briefing.

Seoul’s second spy satellite is equipped with a synthetic aperture radar (SAR) capable of producing images regardless of weather conditions due to how it processes data. — Reuters

Geneos cancer vaccine shrinks liver tumors in small trial

NEARLY a third of patients with advanced liver cancer who received a personalized vaccine developed by Geneos Therapeutics along with an immunotherapy drug in a small, early trial saw their tumors shrink, US researchers reported on Sunday.

The result was roughly twice the response typically seen with immunotherapy alone, the researchers said.

Findings from the preliminary study, presented at the American Association for Cancer Research in San Diego and published in Nature Medicine, suggests that vaccines based on mutations only present in a patient’s tumor may boost the immune system’s ability to recognize and attack hard-to-treat cancers.

The findings, which must be confirmed in a larger trial, moves the industry another step closer to effective cancer vaccines, after many past failures, and may expand the types of cancers that such therapies can treat.

Partners Moderna and Merck and Co. and others have had promising results combining customized vaccines with immunotherapy to prevent skin cancer from returning in patients following surgery.

For the study, researchers used samples from patients’ tumors to build vaccines based on neoantigens — new mutations only present on an individual patient’s tumor. The goal was to train the immune system to attack and kill only these unique proteins, leaving healthy tissue unscathed.

Unlike skin cancer, which has many mutations for the body to recognize, liver cancer is considered a cold cancer because it contains fewer mutations, which has rendered immunotherapies less effective.

“This vaccine essentially educates the immune system to recognize antigens that it’s ignored,” said study leader Dr. Mark Yarchoan of Johns Hopkins Kimmel Cancer Center.

The study involved 36 patients with hepatocellular carcinoma, the most common form of liver cancer. Patients were given custom-made vaccines on top of Merck’s widely used immunotherapy Keytruda, the standard of care at the time.

Nearly a third of the patients treated with the combination therapy (30.1%) experienced tumor shrinkage, with three of those subjects having a complete response, meaning no detectable signs of the tumor remaining after a median follow-up of 21.5 months.

That compares with the typical response of about 12% to 18% in patients with liver cancer who receive immunotherapy alone.

“This certainly suggested that the vaccine actually added clinical efficacy,” Yarchoan said.

The most common adverse effect was mild injection site reactions. There were no serious adverse events.

Unlike many vaccine candidates based on messenger RNA (mRNA) technology, the Geneos treatment is a DNA vaccine in which the genetic code of the mutated proteins is injected into cells using a small electrical impulse. Each vaccine can target up to 40 mutated genes. — Reuters

New Zealand tightens visa rules amid near record migration

KERIN GEDGE-UNSPLASH

SYDNEY — New Zealand said on Sunday that it was making immediate changes to its employment visa program after a near record migration last year which it said was “unsustainable.”

The changes include measures such as introducing English language requirement for low skilled jobs and setting a minimum skills and work experience threshold for most employer work visas. The maximum continuous stay for most low skilled roles will also be reduced to three years from five years.

“The Government is focused on attracting and retaining the highly skilled migrants such as secondary teachers, where there is a skill shortage,” Immigration Minister Erica Stanford said in a statement.

“At the same time we need to ensure that New Zealanders are put to the front of the line for jobs where there are no skills shortages,” she said.

Last year, a near record 173,000 people migrated to New Zealand, the statement said.

New Zealand, which has a population of about 5.1 million, has seen a rapid growth in its migrant numbers since the end of the pandemic, raising concerns last year that it was fanning inflation.

Neighboring Australia, which has also seen a big jump in migrants, has said it would halve its migrant intake over the next two years. — Reuters

How ACCESS addresses challenges of taking MCLE in the Philippines

The practice of law, just like any other profession, is a continuing learning process. Lawyers are constantly facing the challenge of becoming most knowledgeable, not just about the existing national laws but also about the technical details (even science) of any subject involved in the cases they handle.

That is why the Supreme Court is requiring all members of the Philippine bar (practically all practicing lawyers across the country) to take mandatory continuing legal education (MCLE) facilitated by authorized learning centers.

MCLE is designed to ensure that Filipino law practitioners keep abreast with the law and jurisprudence. The 36 credit units required every 3 years are also aimed at helping lawyers maintain professional ethics and further enhance the standards of the practice.

However, compliance with the MCLE requirements is logically not as easy as it seems. “Some lawyers think MCLE is just a waste of time,” says Atty. Peaches Martinez-Aranas, Managing Partner of boutique law firm LMA Law, faculty member of the Lyceum of the Philippines College of Law, and Co-Founder of ACCESS MCLE, the pioneer in offering online MCLE in the country.

“ACCESS was established in 2017 with the goal of changing how practicing lawyers in the country usually view MCLE. By infusing convenience to this requirement, we aim to make them look at it as an opportunity for continued learning and professional growth,” she adds.

Convenience of online MCLE

As many lawyers find it hard to balance their time for personal and professional matters, ACCESS MCLE had pushed for digitalization of continuing learning for Filipino lawyers. In 2019, the Supreme Court finally approved the provision of online MCLE. The learning center has since become the leader and standard setter in providing digital MCLE for lawyers in and even outside the country.

Through ACCESS, lawyers can now choose the best option for MCLE based on their convenience and learning preferences. Learners can sign up for online on-demand or flexi-synchronous sessions. For those who are into the traditional classroom mode, face-to-face classes are still offered.

“Our on-demand online sessions enable learners to attend classes whenever, wherever they are. The flexi-synch option makes MCLE program schedule identical all year round so learners can catch a lesson they miss on the same day and time on the following month, still online,” Atty. Peaches explains.

Maintained quality of programs

She further assures fellow law practitioners about the quality of the MCLE programs offered by ACCESS. “We have curated the best and timely courses facilitated by no less than some of the country’s legal luminaries. We have even invested in technology to produce the best online sessions that are setting the industry standards higher,” she says.

Atty. Peaches even points out how ACCESS is democratizing MCLE, helping lawyers address the budget constraints. “Our online programs can make learners save on transport costs going to and from traditional classroom-type sessions. The time a learner saves while still complying with the MCLE requirement can arguably be priceless.”

To learn more about ACCESS MCLE and its programs, visit https://accessonline.ph/.

 


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DoubleDragon subsidiary Hotel101 Global set to list on the Nasdaq

DOUBLEDRAGON.COM.PH

SINGAPORE/MANILA — Philippine real estate firm DoubleDragon on Monday said subsidiary Hotel101 Global will list on the Nasdaq in the United States via a merger with special purpose acquisition company JVSPAC Acquisition Corp.

Hotel101 Global will become the first Philippine company to list in the U.S. following the deal with the SPAC – a publicly listed shell that raises funds to merge with a private entity.

The merger is likely to result in Hotel101 having an equity value of over $2.3 billion, DoubleDragon, Hotel101 and JVSPAC said in a joint statement. It will close in the second half of the year with Hotel101 listing under ticker “HBNB”.

“We believe that a NASDAQ listing will provide Hotel101 with access to public capital markets and help accelerate our global expansion plans,” Hotel101 CEO Hannah Yulo-Luccini said in the statement.

Hotel101 is the hotel arm of Philippines-listed DoubleDragon, formed by tycoon Sia with Jollibee Foods owner Tony Tan Caktiong.

It builds and operates hotels with standardized, 21 square metre rooms that it sells individually to investors.

Hotel101’s asset-light business model generates revenue first from room sales and then from the recurring income from day-to-day hotel operations, Yulo-Luccini said.

It is headquartered in Singapore and operates two hotels in the Philippines, with three under development in Japan, Spain and the U.S.

The firm aims to expand to 25 countries including China and Saudi Arabia by 2026, and derive 95% of revenue from overseas.

JVSPAC is led by Albert Wong, former CEO of luxury products distributor Kingsway Group – the sole distributor of Lamborghini cars in Hong Kong, Macau and Guangzhou, the statement showed.

The merger will see Hotel101 join a growing number of Southeast Asian firms to list in the U.S., filling a void left by Chinese companies that have paused such listings amid Sino-U.S. tension.

Vietnamese EV maker VinFast listed in the U.S. in August via a merger with SPAC Black Spade Acquisition. It now commands a market value of some $10 billion, LSEG data showed.

In February, the parent of Malaysian budget airline AirAsia, Capital A, finalised a deal to list its brand management unit on the Nasdaq with SPAC Aetherium Acquisition. That deal gave the unit, Capital A International, an enterprise value of $1.15 billion. — Reuters