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Singlife’s Cash for Funeral Costs provides financial relief in the most difficult time

Singlife recently launched Cash for Funeral Costs.

At the end of the day, being faced with a five to six-figure bill isn’t something everyone can afford to deal with. But, it is something you can be prepared for.

Facing the loss of a loved one is a deeply emotional experience, and the last thing families should worry about during this period are financial burdens. Singlife Philippines understands this, which is why their new Cash for Funeral Costs plan empowers Filipinos to plan for end-of-life expenses with peace of mind.

Protecting families from high funeral costs

Filipinos are family first. They will do everything in their capacity to help alleviate the emotional and financial strain brought on by loss. Likewise, bereaved families would want to give dignified farewells to honor their departed. But funeral expenses can easily hit six-digits, creating a significant financial strain on families who are already coping with the loss of their loved ones.

Singlife’s Cash for Funeral Costs alleviates this burden by providing up to P300,000 cash benefit paid to the insured’s beneficiaries with premiums starting at only P447 per month. This gives families the flexibility to use that money to fulfill their loved ones’ final wishes, or use it for any other unexpected end-of-life expenses so they can focus on grieving and remembrance.

The product was designed with customers in mind. Its key benefits aim to provide as much ease as possible when making funeral arrangements.

Benefits of Cash for Funeral Costs

  • Meaningful financial support: Receive up to P300,000 in cash to cover funeral expenses. Plans start at only P447/month.
  • Yearly coverage boost: Your funeral costs plan gets more valuable over time because your coverage increases every year at no additional cost*. This can help you cover possible price increases in funeral arrangements.
  • Flexible payment duration: You can choose to pay your monthly installments for five or 10 years, and you are covered until 120 years old.
  • Be covered in case of disability: In case you get permanently disabled, all your remaining unpaid premiums will be considered paid but you will still keep your coverage intact.
  • Family plan: No need to transfer or share plans. With one plan, your spouse or life partner is also covered. We’ll also cover your children for free starting in your second year.
  • Immediate financial assistance: Upon confirmation of death, we’ll give your beneficiaries immediate funeral cash assistance for urgent funeral expenses.
  • Memorial care support: When you pass away, Singlife’s dedicated team will guide your family with arrangements.

A real-life story of financial protection

While adding an insurance plan to your budget is an extra expense, it will provide peace of mind and significant financial support in crucial moments. Take, for example, the story of John. He was the sole provider for his senior parents. Tragically, John suddenly passed away in his sleep at the young age of 28.

But, because of the insurance policy he got from Singlife, his parents received a benefit of almost P1.5 million from his Singlife policy, helping them financially bounce back from their son’s death and grieve their loss without added financial strain.

John’s insurance plan prepared him and his family for that difficult time, thanks to Singlife.

Singlife Philippines and GCash innovate together to provide financial security to Filipinos

Singlife Philippines and GCash recognize the importance of financial security in every life stage for Filipinos. Even at the end, sending you off with dignity shouldn’t have to push your loved ones into a financial crisis.

Death may be unpredictable, but Cash for Funeral Costs puts financial control in your hands and helps you make a choice to financially prepare for this moment and focus on leaving a lasting legacy for your loved ones.

 

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Tokyo’s controversial Yasukuni Shrine picks ex-admiral as chief priest

Source: https://en.wikipedia.org/wiki/Yasukuni_Shrine

TOKYO – Japan’s Yasukuni Shrine has picked a former military commander as its chief priest in a move that could stir controversy over a site that other Asian nations see as a symbol of Japan’s wartime aggression.

Umio Otsuka, 63, a former Maritime Self Defense Force (SDF) commander and a one-time ambassador to Djibouti, confirmed his appointment, which marks the first time since 1978 for an ex-military official to assume the post.

The last retired military officer appointed as chief priest, Nagayoshi Matsudaira, enshrined 14 prominent convicted war criminals alongside the 2.5 million war dead honored at the shrine, including World War Two-era prime minister Hideki Tojo.

“I feel very honored that the next stage of my life will be to serve this shrine for peace, where the spirits of those who gave their precious lives for the country are commemorated and honored,” Mr. Otsuka told Reuters.

A spokesperson for Yasukuni Shrine, whose name means “peaceful country” in Japanese, declined to confirm his appointment.

Visits to the shrine by senior Japanese political figures have drawn criticism from countries such as South Korea, which was under Tokyo’s colonial rule for 35 years, and China, which Japan invaded.

Conservatives assert that Yasukuni, which was established in 1869 as Japan emerged from more than 250 years of isolation, is meant to commemorate all the nation’s war dead and is not a shrine dedicated to those blamed for waging war on Japan’s neighbors.

Mr. Otsuka’s appointment comes as Tokyo and Seoul deepen security cooperation with each other and their shared ally, the United States, in response to escalating regional threats from China, Russia and North Korea.

No serving Japanese prime minister has visited the shrine since Shinzo Abe went in 2013, prompting an expression of disappointment by then-US President Barrack Obama. – Reuters

How DonBelle lives for real to live more

Phenomenal loveteam Donny Pangilinan and Belle Mariano or DonBelle

This generation’s phenomenal loveteam, Donny Pangilinan and Belle Mariano or DonBelle, disclosed that living for real is the secret to living more. In a recent interview for their latest Smart Prepaid campaign, the tandem shared that navigating fame in the digital age could be tricky, but grounding oneself in reality makes all the difference.

Below, DonBelle peels the layers of online fame by sharing tips on authenticity, finding balance and voice during social media-heavy times. As Gen Zs themselves, Donny and Belle recognize the need to keep things grounded and authentic despite fame, and this is something their followers would spot and relate to right away.

Don’t let social media dictate who you are

It’s easy to join the bandwagon and post what everybody else is posting but for DonBelle, authenticity is a priority and people should find beauty in imperfection.

“Don’t let the digital world dictate who you are. Being true to yourself and finding your voice is what makes you genuinely shine,” said Donny to start the conversation.

Belle agreed, “Totoo ‘yan. It’s our real stories, our truths, that connect us.”

Unfiltered bravery in social media realness

For DonBelle, being real means being brave. It takes courage to be real, they said as Donny elaborated on the courage it takes to showcase one’s true self.

“In an age where everyone is curating their online personas, being authentic is a brave act. It’s about peeling off the layers of expectation and daring to be seen for who you really are,” he added.

Belle added, “Mahirap sometimes, pero worth it. Real beats perfect any day. And you also become more relatable.”

Finding balance when it comes to sharing things online

The young actors find balance in knowing what to share and when to share things on social media.

“Every day is an opportunity to be a better version of ourselves. It’s not about the likes or the follows, but being real with yourself and with others,” Donny said.

Belle echoed, “Stay true, kahit online. Even though we may be in the public eye, we are still normal people who value family and friends the most.”

Donny intimated that achieving balance online “is about finding those moments of quiet in a day that’s constantly buzzing with notifications.”

On the other hand, Belle offered a glimpse into her strategy, “Simple joys lang, like reading or spending time with family, help me stay true to myself.”

Evolve to inspire

“The real challenge is to continuously evolve and share that journey with others. It’s about being genuine, which truly connects us,” said Donny, underscoring the impact of authenticity on forming meaningful connections.

Belle supported this sentiment with a simple yet powerful message, “Be real, inspire. If we can somehow encourage our community to be better versions of themselves, if we can bring joy to their lives, and if we can help them live for real to live more, happy na kami ni Donny.”

‘Live for Real’ with Smart Prepaid

Like DonBelle, Smart Prepaid encourages subscribers to “Live for Real” to live more in its latest campaign. This campaign highlights its commitment to enabling genuine and real connections through innovative offers, highlighting Smart’s latest prepaid offerings such as Power All, Magic Data, and Smart Prepaid eSIM.

PowerAll 99 offers 8 GB data for all sites and apps, Unlimited All-Net Texts, and Unlimited TikTok for 7 days, while Magic Data 99 comes with NO EXPIRY 2 GB for all sites and apps with no expiration, Magic Data starts at 99. Subscribers can conveniently register for these offers via the Smart App or through their trusted retailers.

On the other hand, the Smart Prepaid eSIM makes it so much easier for subscribers to enjoy greater flexibility with multiple SIMs in one device — without the need for a physical SIM card. Mobile users can now order the Smart Prepaid eSIM at the Smart Online Store and can be digitally delivered via email instantly. It is also available at accredited retailers at local and international airports, malls, and Smart flagship stores on e-commerce sites like Lazada and Shopee.

Smart Prepaid’s value-packed offers are powered by the Smart mobile network, recently recognized for delivering the Philippines’ Best 5G Coverage and 5G Availability in the latest report by independent analytics firm Opensignal.

To know more about Smart Prepaid offers, visit https://smart.com.ph/Prepaid/liveforreal or follow its official accounts on Facebook, Instagram, YouTube, and TikTok.

 

Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by publishing their stories on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.

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PHL to grow 6.4% this year — Fitch

REUTERS

THE PHILIPPINES is expected to be the fastest-growing economy in Southeast Asia this year, according to Fitch Ratings.

Data from Fitch Ratings’ Asia-Pacific Sovereigns Credit Outlook for February showed that the Philippines’ gross domestic product (GDP) is projected to expand by 6.4% this year.

This will be the fastest growth in Southeast Asia, ahead of Vietnam (6.3%), Indonesia (5%), Malaysia (4.2%), Thailand (3.8%) and Singapore (2.3%).

Krisjanis Krustins, Fitch Ratings’ primary sovereign analyst for the Philippines, said Philippine GDP growth would likely remain above 6% in the next few years.

“We forecast real GDP growth of above 6% over the medium term, considerably stronger than the ‘BBB’ median of 3%, supported by large investments in infrastructure and reforms to foster trade and investment, including through public-private partnerships (PPPs),” he said in an earlier commentary.

Fitch Ratings’ forecast is slightly below the government’s 6.5-7.5% target this year.

The Philippine economy grew by 5.6% in 2023, slower than 7.6% in 2022 and fell short of the government’s 6-7% full-year target.

Economic managers have said they might revise growth assumptions and targets to be more “realistic” and account for global economic conditions.

The Philippine Statistics Authority (PSA) is set to release first-quarter GDP data on May 9.

For 2025, Fitch expects Philippine economic output to expand by 6.5%. This also makes it the fastest-growing economy in the region next year, alongside Vietnam.

It will be ahead of Indonesia (5.2%), Malaysia (4.5%), Thailand (3.4%) and Singapore (3%).

In November, Fitch Ratings affirmed the Philippines’ “BBB” investment grade rating and kept its “stable” outlook.

A “BBB” rating indicates low default risk and reflects the economy’s adequate capacity to pay debt. A “stable” outlook on the rating also means it is likely to be maintained over the next 18-24 months.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said Philippine GDP growth could settle at 6% this year and potentially in the next 10 years.

“Before the pandemic, Philippine GDP consistently grew by at least 6% from 2012-2019 due to the demographic sweet spot and other important economic bright spots,” he said in a Viber message.

He cited strong remittances, low unemployment, improved government spending and the uptick in tourism as growth drivers.

Meanwhile, Fitch sees inflation averaging 4% this year, within the central bank’s 2-4% target. However, it is above the Bangko Sentral ng Pilipinas’ (BSP) average forecast of 3.6% for the full year.

It also expects inflation to ease further to 3.5% next year, above the BSP’s forecast of 3.2%.

The BSP earlier said it expects inflation to accelerate above the 2-4% target in the second quarter due to the El Niño weather event, as well as positive base effects.

Meanwhile, Fitch Ratings raised its global GDP growth projection by 0.3 percentage point to 2.4%, as it expects faster US growth.

In its latest Global Economic Outlook, the debt watcher said it also raised its US growth forecast to 2.1% from 1.2%.

It trimmed its China growth forecast to 4.5% for this year from 4.6%.

“An unprecedented pro-cyclical widening in the US fiscal deficit in 2023 boosted domestic demand and helped explain the surprising resilience of GDP growth,” Fitch said. “But we expect the fiscal impulse to fade this year and household income growth to slow.”

For 2025, Fitch expects global economy to grow by 2.5% as “the eurozone finally recovers on a pickup in real wages and consumption — but US growth slows.” — Luisa Maria Jacinta C. Jocson

Philippines slightly improves in Human Development Index

Students are seen walking to school in Manila, Feb. 24, 2024. — PHILIPPINE STAR/EDD GUMBAN

THE PHILIPPINES jumped five spots in the latest Human Development Index, but remained one of the laggards in Southeast Asia, the United Nations Development Program (UNDP) said.

The Philippines ranked 113th out of 193 countries in the UNDP’s index, which measures a country’s health, education and standard of living.

The Philippines’ score improved to 0.71 in 2022 from 0.692 in 2021. This also marked the country’s highest score since 0.714 in 2019.

Philippines moves up in Human Development IndexThe Philippines’ score was below East Asia and the Pacific’s average of 0.766 and the global average of 0.739.

In Southeast Asia, human development levels were “very high” in Hong Kong (fourth), Singapore (ninth), Brunei Darussalam (55th), Malaysia (63rd), and Thailand (66th).

The Philippines had a “high” human development level, along with Vietnam (107th) and Indonesia (112th).

On the other hand, human development was considered “medium” in Laos (139th), Myanmar (144th), Cambodia (148th) and Timor-Leste (155th).

“The world has achieved a new record in human development. After steep losses in 2020 and 2021, the Human Development Index… has climbed to its highest level ever recorded at the global level,” the UNDP said in a report.

While the index value is greater than in 2019, the UNDP said it does not mean the world has fully recovered from the impact of the coronavirus pandemic and other crises.

“Essentially, we have not reached the level of human development that could have been expected had the pandemic not happened,” it said.

Life expectancy at birth is at 72.2 years in the Philippines,” according to the Human Development Index. The expected years of schooling for Filipinos is 12.8, while the mean years of school is nine.

Life expectancy in Singapore is 84.1, with 16.9 expected years of schooling and 11.9 mean years of school.

The Philippines’ gross national income per capita is about $9,059, a far cry from Singapore’s $88,761.

The Philippines also ranked 92nd in the gender inequality index with a score of 0.388, while its gender development score stood at 0.966.

Jose Enrique A. Africa, executive director of think tank IBON Foundation, said the Philippines’ human development ranking does not reflect an improvement in the poverty situation.

“The appearance of improvement is unwarranted though, because the country’s economic growth has long been grossly inequitable and manifests disproportionately as income, profit and wealth gains for the richest rather than a generalized improvement in the conditions of the majority,” he said in a Viber message.

Almost half of Filipino families, equivalent to 13 million households, consider themselves poor, according to a survey by the Social Weather Stations in late 2023.

Mr. Africa said the index’s measure of education does not even capture the poor quality of education in the country.

“Amid low family incomes, the government has so much more to do to improve the reach and quality of the public school system,” he said.

The Philippines had one of the longest and strictest lockdowns in the world, with schools closed between April 2020 and March 2022. — B.M.D.Cruz

FSCC keeps eye on potential spillovers from global uncertainties

The main office of the Bangko Sentral ng Pilipinas in Manila. — BW FILE PHOTO

THE FINANCIAL STABILITY Coordination Council (FSCC) is keeping a close eye on the possible spillover effects from global developments, Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. said.

In a statement, Mr. Remolona, who is also FSCC chairman, said uncertainties in advanced economies were “likely to affect the Philippines in different ways.”

“While global markets have been very fluid, the Philippines has shown its resilience by expanding at a pace that exceeds that of most other economies in the world,” he said. “The FSCC recognizes that expectations at the end of 2023 of early rate cuts by the US Federal Reserve have been tempered by recent US data.”

“That said, the council weighs the potential spillovers coming from abroad versus the resilience that the local market continues to exhibit,” he added.

In February, the US Federal Open Market Committee kept interest rates steady for the fourth straight meeting. From March 2022 to July 2023, the Fed raised borrowing costs by 525 basis points (bps) to bring the target Fed fund rate to 5.25-5.5%.

In its Financial Stability Report released last month, the FSCC said the US central bank was unlikely to cut key rates soon and would likely keep policy rates elevated for longer than expected.

Markets widely expect the BSP to only begin policy easing after the Fed starts to cut rates.

The Monetary Board kept its benchmark rate steady at a near 17-year high of 6.5% for a third straight meeting in February.

From May 2022 to October 2023, the BSP raised rates by 450 bps. The Monetary Board is set to hold its next policy meeting on April 4.

Meanwhile, the FSCC said estimates show that a “sizable” portion of corporate bonds and loans would mature this year.

“Given the nature of these debts, the FSCC expects a significant amount to be refinanced,” it said.

“The council recognizes that the banking sector has been able to provide much of the corporate funding through the years. However, the FSCC also looks to a stronger capital market to complement the banking sector and to better manage various risks,” it added.

The report showed that while outstanding corporate bonds have grown “significantly” over the past 15 years. They have remained flat over the past five years.

At end-2023, outstanding corporate bonds stood at P1.55 trillion, lower than P1.6 trillion at end-2022. This was also reflective of the P259.3 billion in maturing bonds.

The FSCC is also seeking to expand the access of Philippine corporations to the bond market.

“Enhancing the capital market is an issue that is shared by all members of the FSCC. We recognize that regulators must take a more proactive role in market development and encourage deliberate collaboration among stakeholders,” Mr. Remolona said.

The FSCC is an interagency council composed of officials of the BSP, Department of Finance, Securities and Exchange Commission, Insurance Commission and Philippine Deposit Insurance Corp. — Luisa Maria Jacinta C. Jocson

Gov’t faces challenges in bringing down fiscal deficit

MARI GIMENEZ-UNSPLASH

By Luisa Maria Jacinta C. Jocson, Reporter

THE GOVERNMENT might find it challenging to meet its targets in bringing down its fiscal deficit in the near term if it does not ramp up fiscal consolidation plans, analysts said.

“By and large, although the country has narrowed down its budget deficit… it is still theoretically high considering that the ideal deficit has fallen short of the target,” Colegio de San Juan de Letran Graduate School Associate Professor Emmanuel J. Lopez said in an e-mail.

“If this will be a trend for the rest of the year till 2028, it is doubtful the government can achieve the deficit target cap of 5.1% of the gross domestic product (GDP),” he added.

The National Government’s (NG) budget gap narrowed by 6.32% to P1.51 trillion in 2023 from P1.61 trillion in 2022. However, it was 0.85% above the P1.499-trillion deficit ceiling.

Government revenues rose by 7.86% year on year to P3.82 trillion and exceeded its program by 2.55%. On the other hand, state spending went up by 3.42% to P5.34 trillion, surpassing its program by 2.06%.

The NG’s deficit as a share of GDP stood at 6.2% as of end-2023, a tad higher than its 6.1% target but lower than 7.3% at end-2022.

Union Bank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion said the year-on-year improvement of the deficit-to-GDP ratio signaled “fiscal prudence” despite high inflation and interest rates.

“In this fiscal trade-off, fiscal consolidation won out (lower deficit ratio with a slight breach of the program deficit target) over the fiscal objective to support growth and offer some relief to higher interest rates and inflation,” he said in an e-mail.

“We think that this ongoing fiscal trade-off and other dynamics will not change materially in 2024 and expect a fiscal deficit outlook of P1.58 trillion that corresponds to a lower ratio of 5.5% of our projected 2024 GDP,” he added.

This year, the NG’s deficit ceiling is capped at P1.39 trillion or 5.1% of GDP. The government seeks to bring this further down to 3% by 2028.

Finance Secretary Ralph G. Recto earlier said the government’s fiscal performance remains “robust” and is on track with its consolidation plan.

Meanwhile, Ateneo de Manila University economics professor Leonardo A. Lanzona said the government’s fiscal consolidation efforts have been “uncertain and disappointing.”

In an e-mail, he noted that the targets were deliberately downgraded as the government recognized “the limits on fiscal space and growth expected during the year and the need to stabilize its fiscal position.”

“However, the government has exceeded its targets as the economic performance dipped and the social problems due to inflation grew. Thus, the budget deficit naturally narrowed, but is still higher than the government target,” he added.

Mr. Lanzona said the government does not have enough fiscal resources to both “grow the economy and meet its social responsibilities.”

Mr. Lopez said the government should manage its fiscal spending in the near term.

“Practically the government is spending more than its earnings, therefore increasing its borrowing from outside sources to achieve the desired fiscal spending,” he added.

The Philippines’ efforts to bring the deficit down would depend on economic growth, Mr. Asuncion said.

If GDP expands at a better-than-expected pace, Mr. Asuncion said it may be possible to meet the 3% deficit target “sooner than later.”

“We think this is within the realm of possibility if the easing of monetary policy interest rate settings comes sooner than later,” he added.

The economy grew by 5.6% last year, much slower than the 7.6% expansion in 2022. It also fell short of its 6-7% growth target.

This year, the government is targeting 6.5-7.5% GDP growth.

To further bring down the deficit, Mr. Lanzona said there must be an “effective and massive” tax reform.

“A truly progressive income tax reform that focuses on wealth will be needed. Since these taxes are not based on consumption, these will have no impact on inflation as this will only entail a redistribution of incomes from the rich to the poor,” he added.

Mr. Recto earlier said he does not plan to introduce new taxes, for this year at least.

Instead, the Finance department has been tweaking and fine-tuning ongoing tax proposals, such as the rationalization of the mining fiscal regime and the Passive Income and Financial Intermediary Taxation Act.

SMC profit surges 67% to P45 billion

ANG-led conglomerate San Miguel Corp. (SMC) recorded a 67% jump in its net income for 2023, reaching P44.7 billion, driven by growth across its business segments.

The conglomerate’s earnings before interest, taxes, depreciation, and amortization (EBITDA) last year rose by 24% to P205.3 billion, while consolidated operating income improved by 34% to P144.5 billion, SMC said in a statement on Thursday.

SMC attributed the results to volume growth across its key businesses, including San Miguel Brewery, Inc., Ginebra San Miguel, Inc., Petron, and SMC Infrastructure, along with the integration of Eagle Cement Corp.’s financial results.

“We had a strong finish to 2023, which was marked by a healthy operating income and EBITDA, thanks to our continuous efforts to maximize operational efficiencies, aligned with our sustainability agenda,” SMC President and Chief Executive Officer Ramon S. Ang said.

“Our robust performance again reflects our resilience and ability to deliver a strong bottom line despite macroeconomic uncertainties, and our commitment to continue investing on nation-building projects,” he added.

SMC’s food and beverage business led by San Miguel Food and Beverage, Inc. (SMFB) saw a 10% jump in net income to P38.1 billion as revenues improved by 6% to P379.8 billion. The growth was due to better volumes and pricing strategies, the company said.

San Miguel Brewery, Inc. recorded a 16% increase in its 2023 net income to P25.3 billion as consolidated sales climbed by 8% to P147.3 billion.

Net income of Ginebra San Miguel, Inc. increased by 55% to P7 billion in 2023, while its EBITDA surged by 41% to P9.4 billion. Its revenues rose by 13% to P53.6 billion.

The conglomerate’s food group recorded a 2% jump in revenues to P178.8 billion due to “strategic pricing across segments, complemented by aggressive marketing to stimulate demand.”

“Strong fourth-quarter operating income growth of 89% cushioned a full-year decline at 23%, to end at P10.2 billion,” SMC said.

Net income of San Miguel Global Power tripled to P9.9 billion in 2023 from P3.1 billion in 2022 due to better operating margins and foreign exchange gains. Revenues fell 23% to P169.6 billion on lower contracted volumes and prices due to reduced fuel tariffs.

“Newcastle coal indices averaged $172.79 per metric tons (MT) in 2023, compared to $360.19/MT in 2022,” SMC said.

“Notably, the fourth quarter saw a 32% increase in volumes from the year-earlier period — a turnaround from the declines in the first three quarters of the year, partly due to higher sales volume from the San Roque hydropower plant, and increased contributions from its battery energy storage system network,” it added.

Petron Corp. saw a 10% jump in its 2023 net income to P10.1 billion. Its sales volume increased by 13% to 126.9 million barrels led by wide presence and effective volume-generation strategies both in the Philippines and Malaysia.

However, Petron’s revenues dropped by 7% to P801 billion as prices continued to correct from record-high levels in 2022.

SMC Infrastructure recorded a 33% improvement in its 2023 net income to P11.4 billion. Consolidated revenues grew by 17% to P34 billion due to sustained growth across all operating toll roads.

“Combined average daily traffic volume reached 1 million vehicles, an 8% increase from 2022 level, buoyed by continued increase in travel activities,” SMC said.

SMC’s cement business consisting of Eagle Cement Corp., Northern Cement Corp., and Southern Concrete Industries, Inc. saw a fourfold growth in consolidated revenues to P37.2 billion in 2023 due to the full-year consolidation of Eagle Cement in 2023, and the start of commercial operations of a new facility in Davao del Sur.

SMC is confident that it would “efficiently manage its business and continue to deliver sustainable value” amid market uncertainties.

The conglomerate is expecting its food and beverage business to see sustained growth led by positive consumer demand backdrop, favorable inflationary environment, and strong brand following.

SMC’s Infrastructure business is forecasted to sustain its growth trajectory with continued traffic growth across its network, as well as increased travel nationwide.

With its increased capacity, the conglomerate said its cement business is seen to benefit from both private and public sectors’ push for economic and infrastructure development.

“SMC is optimistic that the country’s robust macroeconomic fundamentals and its strategy, anchored on our sustainability agenda, will sustain growth momentum throughout 2024,” it said.

On Thursday, SMC shares dropped by 0.39% or 40 centavos to P101.10 apiece. — Revin Mikhael D. Ochave

Filipina celebrities define the female struggle

BRONTË H. LACSAMANA

HUMILITY, humor, and humanity are three qualities that a “shero” or female hero must have, said Filipina celebrities at a discussion held to commemorate International Women’s Month.

Insurance company InLife organized the event gathering five different women to talk about their perspectives on modern feminism, albeit from different backgrounds. The session, titled “The Spot: Sheroes in the Limelight,” took place on March 12 at The Peninsula Manila in Makati City.

The panel was composed of singer-actress Sharon Cuneta-Pangilinan, comedienne Kaladkaren, actress- comedienne Mitch Valdez, radio DJ Nicki Morena, and content creator Aryn Cristobal.

Kaladkaren, a transwoman comedienne and advocate for LGBTQ+ (lesbian, gay, bisexual, trans, queer) and women’s rights, observed that they all had to contend with the pressures of society.

She quoted the iconic monologue delivered by America Ferrera in the 2023 film Barbie: “You have to be thin, but not too thin … You have to have money, but you can’t ask for money because that’s crass. You have to be a boss, but you can’t be mean. You have to lead, but you can’t squash other people’s ideas. You’re supposed to love being a mother, but don’t talk about your kids all the time. You have to be a career woman, but also always be looking out for other people.”

To conclude, Kaladkaren pointed out that it could be summarized in Bea Alonzo’s famous line in the 2013 blockbuster Filipino film Four Sisters and a Wedding. “Bakit parang kasalanan ko (Why is it always my fault)?!” she said as she imitated the character.

A reaction to these unfair standards, the panel discussion was held in time for the 5th anniversary of InLife’s “Sheroes” program.

Filipino multi-hyphenate megastar Sharon Cuneta-Pangilinan, said there are many ways to empower women: through financial education, health and wellness, women-specific solutions, and access to business and social networks.

“We, as public figures, have a responsibility. What we advertise and promote should be true, authentic, sincere,” she told the press after the event.

With InLife, she has been able to give financial advice to Filipinos, like doing ample research before investing in anything and diversifying one’s assets. “People listen, so we can’t just say anything,” Ms. Cuneta said.

Influencer and content creator Aryn Cristobal’s struggle was with expectations put on her by society, in the form of titas (aunts) who judged her life choices.

Not only was she single after an engagement that was broken off, and working freelance, but she also swore off having children. “I decided I wanted to focus on giving back and taking care of my mother instead of starting a family as is expected of many women my age,” Ms. Cristobal said.

The decision allowed her to break free from outside forces, to finally “take ownership of her life.” Women can get fulfillment from many things — whether it’s starting families, building a career, or being independent, she added.

Renowned actress-comedian-singer Mitch Valdez said she resonated with Ms. Cristobal’s lifestyle as well. “I was really a hubadera when I was younger,” she said, using a term that means a woman who wears revealing clothes. However, one instance where she had to prove that women could do many things was when she filled in for an absent male vocalist in her band.

“Imagine; I had to sing both the male and female parts!” said Ms. Valdez. She then performed a hilarious set where she impressively did just that.

As a woman who grew up in typhoon-prone Samar and moved to Metro Manila to be a breadwinner for her family, radio DJ and TV host Nicki Morena said, “I had to find confidence in myself, as a probinsyana (provincial), as a Bisaya.”

Her perseverance helped her stay on track and she has “never looked back since.” For her, it is important that women be free to do such. — Brontë H. Lacsamana

PLDT inks clean energy supply deal with ACEN unit 

PLDT INC. announced on Thursday an agreement with ACEN Renewable Energy Solutions (ACEN RES) to power the telecommunications company’s facilities.

“This supply agreement with ACEN RES expands and diversifies renewables in the energy mix of our key facilities. Our continuous transition to [renewable energy] supports the direction to make our PLDT facilities eco-efficient and future-ready,” PLDT Vice-President and Sector Head for property and facilities Leo Gonzales said in a statement.

ACEN RES is the retail electricity supply business of Ayala-led energy company ACEN Corp.

Under the agreement, ACEN RES will energize the 33 facilities of PLDT in the National Capital Region, PLDT said. Among those facilities is the company’s 24/7 command center in Makati City.

ACEN RES will source its power from solar power and geothermal energy.

The collaboration is expected to result in a reduction of at least 21,000 tons of carbon emissions per year, PLDT said.

“We are keen on supporting PLDT as it continues to transition to RE (renewable energy) and use more renewable energy to power its operations that are vital to our country’s connectivity and digital infrastructure. ACEN is looking forward to this venture that will help foster an energy-secure future for our telecommunications industry,” said Jose Antonio T. Valdez, ACEN senior vice-president for market transformation.

Just last week, PLDT announced that it had secured a P1 billion green loan to fund its ongoing expansion and upgrade of its fiber network, which it said would allow the company to reduce its carbon footprint.

At the local bourse on Thursday, shares in the company gained P10 or 0.72% to end at P1,400 each; while shares in ACEN closed unchanged at P3.80 apiece.

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

Eternity and a day

Movie Review
Gaano Kita Kamahal
Directed by Mario O’Hara

COMING OFF the commercial and critical success of Kastilyong Buhangin (Castle of Sand, 1980), Nora Aunor, Lito Lapid, and Mario O’Hara put their heads together once more to present Gaano Kita Kamahal (How Much I Love You, 1981), a more ambitious, more lavish production.

Mely Tagasa and Mario O’Hara’s script for Kastilyong Buhangin told their story in fairy-tale terms — Nora and Lito’s Laura and Oscar growing up as childhood playmates, Laura tormented by her ogre foster-father, brave Oscar defending her and paying a heavy price. The die was cast long before they knew anything: Oscar was Laura’s friend — brother, almost — before falling in love; Oscar grew up not under his mother’s care but in the prison system — when released he walks about with a convict’s mentality (strike back when struck; stick to your friends no matter what; fight hard, play rough, die young). Laura, blessed by Oscar’s sacrifice, knew better — she had the talent and drive to succeed in a singing career. They were fated to follow their respective trajectories, she an uninterrupted ascent, him a downward spiral.

In Gaano Kita Kamahal (script by Daniel Martin, Greg Tadeo, Jerry O’Hara, Mario O’Hara) the tone is set by the film’s opening image, of a man in ballerina drag dancing a clumsy pas de duh while Melissa Manchester croons “Through the Eyes of Love” on the soundtrack — the dissonance between romantic ballad and graceless slapstick at once funny, ugly, and somehow poignant. We meet the lovers as strong independent-minded adults pursuing separate if parallel careers: Lito as sword master Hector, Nora as songstress Pilar. Presumably they met in a show and fell in love; presumably Hector with his strong, rugged physique felt the need to expend surplus energy not just on Pilar but on any statuesque beauty who happens to walk past — in this case singer Lucy Alba (Geraldine), daughter of veteran director Bernardo Alba (Mario Escudero), who happens to be Hector’s mentor. When Lucy gets pregnant, Hector is stuck.

Obvious why Kastilyong was such a box office smash — nothing hits harder than a pair of star-crossed lovers (ask Shakespeare), especially when you’ve followed them from childhood. Asked to repeat Kastilyong’s winning recipe O’Hara fiddles with the formula, and the result is more complicated with a hidden agenda — to pay tribute to Filipino vaudeville.

You see that agenda everywhere: the ballads, the dance numbers, the comedy skits. Señor Alba has big plans for Hector to star in his latest film production (vaudeville is dying, has been dying for years, and the jackpot is an offer to make a movie of what you’ve been performing all this time onstage). Alba playfully challenges Hector to a duel wherein the former easily disarms the latter, the director reminding Hector that he taught him everything he knows. When Hector defies Lucy’s demands to marry her, he should have known better — or does when Señor Alba sets the record straight (I can make or break you). The result is grotesque comedy with O’Hara planting the camera before the chapel altar, turning it into an impromptu stage where priest blesses the couple’s union, well-wishers shake hands, and the camera, once in a while, freezes on Hector’s face to show what he thinks of the farce.

Offered a bit of sugar and you can take or leave it depending on how you feel at the moment; prohibited from ever having sugar for the rest of your life and you develop a craving, as if to crystal meth — now Hector can’t stay away from Pilar, who doesn’t for a moment encourage him but can’t help being responsive. Early on O’Hara showed us the lovers’ normal interaction (long takes of the two bickering); once the rampart of matrimony rises between them the interactions suddenly become wordless, bitterly exchanged glances and gestures, and what starts out as a funny sketch darkens into a deeply felt passion play.

Nora is best known for her roles as dusky provinciana either being threatened by a tyrannical employer or abusive husband or drunken Japanese officer; not as well-known but should be are her films as reluctant adulterer, who falls into a love affair not entirely of her own volition, pulled into it by feelings she can’t express in words (but can, eloquently, with her eyes). One remembers that moment in Kastilyong Buhangin when Oscar pulls at Laura’s hand and the audience swoons; there’s a similar moment in Gaano where Hector seizes Pilar — Nora looks surprised, not just by Hector’s gesture but by her own feelings on the matter. O’Hara does capture lightning in a bottle a second time, at least in this moment, a gift if you like to Nora’s fans.

And sometimes it’s not the script, sometimes it’s the details enhancing the drama. O’Hara began with a sarcastic interpretation of “Through the Eyes of Love” (we meet a pair of not exactly graceful lovers), along the way quotes lines from Alan Jay Lerner’s “I’ve Grown Accustomed to (His) Face” (which Pilar sings with rueful affection while O’Hara inserts shots of Hector in bed with Lucy), and so on. O’Hara is operating in full-on musical mode, the numbers commenting, sometimes cynically, on the story. When we reach the eponymous song’s onscreen performance we’re primed to soar as Nora negotiates the ladder of consonants and vowels (Mag. Pa. Kai. Lan. Man!) that is the song’s key term (roughly put: forevermore).

Or not. Nora and Lito as adulterers? Lito as an unrepentant asshole? Where’s the mix of action and song numbers? And what’s this vaudeville shit? Audience and critics alike expected a Kastilyong 2 and got a more adult, more clear-eyed melodrama where both lovers do wrong and know they’re doing wrong (in Kastilyong you get the sense it’s the alcohol and anxiety of living in the world outside prison) but can’t help themselves anyway (the film recalls the startling conclusion to Mike Nichols’ The Graduate only here Dustin Hoffman can kick ass and Katherine Ross can actually act and sing). Most of the film is wall to wall song numbers with a sprinkling of action (the play-fencing between Hector and Señor Abla; an outdoor braw — shot handheld with only one cut mid-sequence — where Hector defends his father) — a dry slog for Lito Lapid fight fans until the closing minutes. The film was savaged by critics and bombed at the box office.

Which is a pity; thanks to the success of Kastilyong, O’Hara managed to put together a dream team of talents: production designer Benjie de Guzman, who conceived the massively elaborate kitschy sets evoking the age of vaudeville (the musical numbers coming across as George Cukor with a trace — just a trace — of deadpan Ken Russell); cinematographer Conrado Baltazar, who gave the film a brooding melancholic grandeur; and Efren Jarlego — of the Jarlego family of film editors — who did the understated but precise cutting.

Flaws? O’Hara inserts one too many melodramatic incidents (a jar of flung acid, an improbably timed car accident) while trying to maneuver his chess pieces to their inevitable conclusion, a confrontation between Hector and his mentor, Señor Alba.

I remember in an interview O’Hara citing Michael Curtiz’ The Adventures of Robin Hood as a formative childhood experience and I can see that wide-eyed child at work here, shooting the intricate swordplay in long takes, taking care to show the footwork (almost always a neglected aspect in action sequences) and how balance is always a swordsman’s concern. I wondered at the choreography — how did Lito Lapid manage to teach his adversary fencing, and how did the older Mario Escudero keep up? Turns out Escudero was the fencing master — he taught Fernando Poe, Jr. how to use the sword — and Lito Lapid the pupil, having an infernal time keeping up. Art imitates life, and so on.

Critics flinched at the prospect of a cheesy swordfight and Lapid fans were presumably disappointed he didn’t get to use his fists, but this is O’Hara again and without shame expressing his love for a dying art — the fight takes place on a stage littered with stage props, loose curtains, fallen light fixtures, continues backstage and up (of course) to the balcony, with a finale straight out of Hitchcock. Critics may have flinched and audiences failed to follow, but I had the time of my life, fashion trends in action and filmmaking be damned. Highly recommended.

(Thanks to Jojo De Vera for support and valuable information)

DoubleDragon: Hotel101-Madrid finished by Q4 2025

SIA-LED DoubleDragon Corp. (DD) on Thursday said its hotel project in Madrid is expected to be finished by the fourth quarter (Q4) of 2025.

The Hotel101-Madrid project, which is being implemented by DoubleDragon’s subsidiary Hotel101 Global, will begin construction in April, the listed company said in a regulatory filing.

Hotel101 Global broke ground for the project on March 13.

The 680-room hotel project is located in a 6,593 square-meter property along Avenida Fuerzas Armadas, Valdebebas, Madrid, Spain.

The hotel’s construction will be done by Ferrovial Construction Group, one of the largest construction companies in Spain.

“[The] opening is just in time for the start of the Madrid F1 Grand Prix, which happens to be located right beside Hotel101-Madrid,” DD said.

“[The hotel] is surrounded by major landmark buildings and is about three minutes walk to the Valdebebas Train Station, four minutes walk to IFEMA convention complex, five minutes walk to Real Madrid Sports Complex, and around seven minutes to the new Madrid Barajas International Airport,” it added.

Hotel101 is seeking to have presence in 25 countries by 2026. These include the Philippines, Japan, Spain, USA, United Kingdom, United Arab Emirates, India, Thailand, Malaysia, Vietnam, Indonesia, Saudi Arabia, Singapore, Cambodia, Bangladesh, Mexico, South Korea, Australia, Canada, Switzerland, Turkey, Italy, Germany, France, and China.

On Thursday, DoubleDragon shares fell by 0.61% or five centavos to P8.13 apiece. — Revin Mikhael D. Ochave

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