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BoP deficit narrows in Sept.

TIMIS ALEXANDRA-UNSPLASH

THE PHILIPPINES’ overall balance of payments (BoP) position narrowed significantly to $414 million in September from the $2.34-billion gap in the same month a year ago, the central bank said.

Data released by the Bangko Sentral ng Pilipinas (BSP) on Thursday showed the country’s BoP position remained in deficit for a sixth straight month in September. It was also the widest deficit since the $606-billion gap in June. 

Month on month, the BoP deficit widened from the $57-million deficit in August.

Philippines: Balance of Payments Position“The BoP deficit in September 2023 reflected net outflows arising mainly from the National Government’s (NG) payments of its foreign currency debt obligations,” the central bank said in a statement.

The BoP measures the country’s transactions with the rest of the world at a given time. A deficit means more funds fled the economy than what went in, while a surplus shows that more money entered the Philippines.

For the nine-month period, the Philippines’ BoP position swung to a surplus of $1.74 billion from the $7.83-billion deficit in the same period in 2022.

“This development reflected mainly the improvement in the balance of trade and the higher net inflows from personal remittances, trade in services, and foreign borrowings by the NG,” the BSP said.

Latest data from the local statistics agency showed the country’s trade deficit stood at $4.13 billion in August, narrower than the $4.2-billion gap a month prior and the $6.03-billion deficit a year earlier.

Year to date, the trade deficit shrank to $36.31 billion from the $41.86-billion gap during the same period in 2022.

“Given that the current account is likely in deficit due to the sizable trade deficit, financial account inflows, most likely tied to government issuances of bonds, likely pushed the BoP into a surplus (in the January-to-September period),” ING Bank N.V. Manila Senior Economist Nicholas Antonio T. Mapa said in an e-mail.    

The government raised $1.26 billion from the retail dollar bond offering in late September.

“The retail dollar bond issuance during the month helped bring the deficit to $414 million, offsetting the trade deficit,” Mr. Mapa added.

At its end-September position, the BoP reflected a final gross international reserve level of $98.1 billion, 1.5% lower than $99.6 billion as of end-August.

The dollar reserves were enough to cover 5.7 times the country’s short-term external debt based on original maturity and 3.6 times based on residual maturity.

It is also equivalent to 7.3 months’ worth of imports of goods and payments of services and primary income.

An ample level of foreign exchange buffers safeguards an economy from market volatility and is an assurance of the country’s capability to pay debts in the event of an economic downturn.

“The BoP may remain in deficit for the rest of the year given our expectation for the current account to stay in the red,” Mr. Mapa said.

In the second quarter, the current account deficit reached $3.6 billion, or equivalent to -3.4% of gross domestic product (GDP), which was lower than the $8-billion shortfall a year ago.

This brought the current account deficit in the first semester to $8.2 billion (-4% of GDP), a 32.2% reduction from the $12.1-billion deficit (-6.1% of GDP) recorded in the same period last year.

“There is a planned Sukuk issuance but we’ve yet to hear more details on the timing,” Mr. Mapa said.

The government is planning to launch Sukuk bonds by end-November. It is targeting to raise around $1 billion from the Islamic bonds, which will have a minimum denomination of at least $200,000.

The BSP expects the country’s BoP position to end the year at a $127-million deficit (0% of GDP). — Keisha B. Ta-asan

Marcos says Maharlika fund will start operating by yearend

PRESIDENT FERDINAND R. MARCOS, JR. — PHILIPPINE STAR/KRIZ JOHN ROSALES/ PPA POOL

By Kyle Aristophere T. Atienza, Reporter

THE PHILIPPINES’ first sovereign wealth fund will start operating by yearend, President Ferdinand R. Marcos, Jr. said on Thursday after suspending it supposedly to improve its organizational structure.

“The organization of the Maharlika fund proceeds apace,” he said before leaving for Saudi Arabia, where he is expected to promote the fund. 

“We have found more improvements we can make, specifically to the organizational structure of the Maharlika fund,” he added, amid criticisms that the wealth fund threatens the financial stability of two state banks.

Mr. Marcos said the concept of the Maharlika Investment Fund (MIF) “remains a good one” and therefore, “we are still committed to having it operational before the end of the year.”

The Oct. 12 memorandum ordering the suspension of the MIF law’s implementing rules and regulations (IRR) was addressed to the Bureau of the Treasury as well as the heads of the Land Bank of the Philippines (LANDBANK) and the Development Bank of the Philippines (DBP).

The President insisted that the suspension must not be seen as “a judgment of the rightness or wrongness of the Maharlika fund.”

“On the contrary, we are just finding ways to make it as close to perfect and ideal as possible, and that is what we have done,” Mr. Marcos said, adding that he consulted economic managers and other people who would be involved in the fund’s operations.

“Their inputs had been very important and that is why we are now going to utilize them to make it a better organization.”

In a statement, Budget Secretary Amenah F. Pangandaman said the economic team will work closely with the President “to prudently review all provisions line by line and make sure that all things are in order.”

“We will also take this opportunity to engage in more multi-stakeholder groundwork in preparation for the launch of the MIF.”

DAMAGE TO CREDIBILITY?
If the issue is just a matter of improving the organizational structure of the investment fund, “why suspend the whole of Maharlika,” Action for Economic Reforms coordinator Filomeno S. Sta. Ana III said in a Facebook Messenger chat.

“This shows an utter failure of communication. Or it shows the confusion in Malacañang,” he said. “This further damages the leadership’s credibility.”

Mr. Sta. Ana noted that the Philippine government’s credibility matters most for investors.

Enrico P. Villanueva, a senior lecturer at the University of the Philippines Los Baños, expressed doubt if the MIF could start operations before yearend when there’s only just two and a half months to go.

“Making a new fund operational in that limited time period is implausible. The IRR revision may take at least two weeks or even more than two months depending on how serious the administration is in making the rules better,” he said via Messenger chat.

Earlier, observers said the suspension of the IRR may be aimed at allowing the President to have greater say on the choice of the Maharlika Investment Corp.’s top executives.

“Whether the President and the MIF proponents like it or not, the directive — to suspend the implementation of the IRR is an admission that something is wrong or amiss with the MIF — certainly in the IRR, and likely even in the law itself,” Mr. Villanueva said.

For GlobalSource Partners Country Analyst Diwa C. Guinigundo, the problem is not the fund’s organizational structure “but the whole concept of putting up a sovereign investment fund when we have chronic fiscal deficit and rising public debt.”

“It’s a missed opportunity for the President to rectify this piece of bad legislation,” he said in a Viber message. “With this very tentative mode of formulating and executing public policy, it would be difficult to inspire investment confidence and market support.”

Terry L. Ridon, a public investment analyst and convenor of think tank InfraWatch, said the IRR suspension should pave the way for the government to assess the performance of the LANDBANK and DBP which have remitted their contributions to the MIF.

“If the banks’ performance flounders in the next few months to at most a year, the government should reassess whether it should dive quickly into MIF investment or focus on strengthening the performance of government banks instead,” he said via Messenger chat. 

The suspension of the Maharlika fund’s implementation came amid concerns on the financial stability of LANDBANK and DBP, which were required to contribute P50 billion and P25 billion, respectively, to the fund’s startup money.

After remitting their contributions, the two banks sought regulatory relief from the central bank’s capitalization requirements.

Earlier this month, Foreign Affairs Assistant Secretary Daniel R. Espiritu said Mr. Marcos is expected to promote the Maharlika fund during his meetings with investors on the sidelines of his participation in the first-ever summit between Southeast Asian and Gulf leaders today (Oct. 20).

Mr. Marcos, in his pre-departure speech, said his government was “encouraged by the reaction of our friends in the Middle East and for that matter around the world to the fund.”

“We’re very encouraged that we are going down the right path.”

Bayan Muna Chairman Neri J. Colmenares said that following the suspension of the MIF law’s IRR, the High Court should “see that the chief executive himself is now hesitant of his pet project and that there is indeed no need for its certification of urgency.”

“The Office of the President’s reason for stopping the MIF’s implementation is to “further study the plan” — meaning it was rushed and half-baked,” he said in a Thursday statement. “We urge the Supreme Court to decide on our petition against the constitutionality of the railroaded passage of the Maharlika law and forever prohibit this presidential abuse of the power to railroad legislative proceedings.”

Gary Ador Dionisio, dean of the De La Salle – College of Saint Benilde School of Diplomacy and Governance, said the government has failed to prove that it is capable of protecting public money. 

“MIF is unnecessary and untenable to protect taxpayers’ money,” he said via Messenger chat. “A weak institution like the Philippines will always be prone to oligarchic interest.”

Economists hike inflation projection for this year

Shoppers browse through the aisles of a supermarket in Mandaluyong City, Aug. 10, 2023. — PHILIPPINE STAR/ MIGUEL DE GUZMAN

PRIVATE SECTOR economists raised their inflation outlook for this year through 2025 due to recent supply-side shocks, although they still expect inflation to return to the 2-4% target range in 2024 and 2025, the Bangko Sentral ng Pilipinas (BSP) said.

Based on the results of the BSP’s survey of external forecasters in September, the average inflation forecast of analysts for 2023 went up to 5.9% from just 5.5% in the August survey.

Economists’ mean inflation forecast for 2024 and 2025 also climbed to 3.7% (from 3.5% previously) and 3.5% (from 3.4%), respectively.

The analysts’ forecasts are slightly above the central bank’s projections. The BSP sees average inflation at 5.8% this year, before easing to 3.5% in 2024 and 3.4% in 2025.

“Analysts expect inflation to accelerate anew due to recent supply-side shocks domestically and overseas,” the BSP said in the highlights of the Sept. 21 Monetary Board meeting.

“They also anticipate further upside risks to the inflation outlook, due mainly to supply disruptions, particularly from the adverse impact of weather disturbances and trade restrictions,” it added.

At its Sept. 21 meeting, the Monetary Board kept the key interest rate unchanged at a near 16-year high of 6.25%. This was after hiking borrowing costs by 425 basis points from May 2022 to March 2023.

“The Monetary Board deemed it appropriate to maintain prevailing monetary policy settings while emphasizing the BSP’s focus on resuming monetary policy tightening action to respond to emerging upside risks to the inflation outlook and potential second-round effects that could dislodge inflation expectations,” the BSP said. 

The central bank’s policy-making body also called for more non-monetary interventions such as the temporary reduction of import tariffs and timely arrival of imported commodities.

“The BSP also continues to prioritize the restoration of inflation towards a target-consistent path over the medium term, in line with its primary mandate to ensure price stability,” it said.

However, the risks to the inflation outlook are on the upside, which could cause inflation to breach the 2-4% target next year, the central bank said.

“The potential impact of higher transport charges is among the major risks to the inflation outlook given the fare increase petitions filed by transport groups in August 2023 due to elevated oil prices,” the BSP said. 

The Land Transportation Franchising and Regulatory Board had approved the P1 provisional jeepney fare increases nationwide, raising the minimum fare to P13 starting Oct. 8. For modern jeepneys, the new minimum fare would be P15.

“Other key upside risks to the inflation outlook are the impact of El Niño weather conditions on food prices and utility rates, higher-than-expected minimum wage adjustments, and higher domestic prices of key food items facing ongoing supply constraints,” the BSP said.

BSP Governor Eli M. Remolona, Jr. earlier said that the Monetary Board may resume its monetary tightening at its next policy-setting meeting on Nov. 16 if risks to the inflation outlook persist.

Mr. Remolona also hinted at an off-cycle rate hike, but he said the BSP still needs to review the latest data before coming up with a decision. — Keisha B. Ta-asan

PHL unlikely to hit 2024 growth goal

PHILIPPINE ECONOMIC managers are targeting 6.5-8% gross domestic product growth in 2024. — PHILIPPINE STAR/WALTER BOLLOZOS

By Keisha B. Ta-asan, Reporter

THE PHILIPPINES is unlikely to hit its 6.5-8% gross domestic product (GDP) growth target in 2024, due to high borrowing costs and increasingly gloomy trade outlook.

“We are expecting Philippine economic growth to accelerate from 5.3% in 2023 to 6.2% in 2024. That is still less optimistic than the government’s projections of 6.5-8%,” BMI Asia Country Risk Analyst Shi Cheng Low said in an e-mail.

He noted the dimmer trade outlook and elevated interest rates to tame rising inflation are two major headwinds to the economy’s expansion next year.

“We think that the trade cycle downturn has further to run. Growth in both the US and Mainland China, the Philippines’ two largest partners, is set to slow next year, which will limit any recovery in exports,” Mr. Low said.

Mr. Low said in a webinar on Tuesday that the US economy may enter a shallow recession in the second and third quarter of 2024, while China’s economic growth may slow to 4.7% in 2024 from 5.2% this year.

The Development Budget Coordination Committee projects goods exports and imports to grow by 1% and 2%, respectively, this year. Exports growth is expected to stabilize at 6% in 2024 to 2028, while imports are expected to grow by 8% annually during the same period.

Mr. Low said the Bangko Sentral ng Pilipinas (BSP) will also likely maintain its hawkish stance during the first half of 2024, as inflation remains elevated.

“Increasing price pressures will prompt the central bank to resume its tightening cycle. We now think that a hike of 25 basis points (bps) is possible in the November meeting,” he said.

BSP Governor Eli M. Remolona, Jr. earlier said the Monetary Board is considering another 25-bp rate hike on Nov. 16, and even hinted at an off-cycle rate hike if price pressures persist.

“Still, we think the tightening cycle will have not much further to run beyond that,” Mr. Low said.

The BSP has kept the key interest rate at a near 16-year high of 6.25% for the last four meetings. To curb inflation, it has hiked borrowing costs by 425 bps from May 2022 to March 2023.

BMI expects Philippine inflation to average around 3.6% next year, well within the 2-4% target band of the BSP, but a tad higher than the central bank’s 3.5% forecast for 2024.

“But we note that risks are skewed to the upside due to the El Niño phenomenon and the Hamas-Israel conflict being potential sources of upside price volatility,” Mr. Low said.

Meanwhile, Security Bank Corp. Chief Economist Robert Dan J. Roces said while another rate hike can be effective in stabilizing prices and support the local currency against the dollar, it may slow down economic growth and burden borrowers with higher debt costs. 

“Balancing inflation control and economic growth is a complex task that calls for a multi-faceted approach. In addition to rate hikes, government authorities could consider supply-side policies, fiscal stimulus, and foreign exchange interventions among other measures,” he said in a Viber message.

Mr. Roces said a cautious approach that avoids further monetary tightening could be “more prudent” in dealing with inflation, given the risks to economic growth. 

“The BSP will be very wary of over tightening especially as investment weakness has been very apparent in the latest growth data,” BMI’s Mr. Low said.

The Philippine economy grew by an annual 4.3% in the second quarter, the slowest in over two years. It was weaker than the 6.4% growth in the first quarter.

For the first semester, GDP growth averaged 5.3%.

Gross capital formation dipped by 0.04% in the second quarter, a reversal of the 12.6% growth in the first quarter and 17.2% in the second quarter of 2022.

Third-quarter GDP data will be released on Nov. 9.

“As for rate cuts, we expect it to materialize in the second half of 2024, similar to our projections for the Fed. This means that interest rates will be kept at multi-year highs for a prolonged time,” Mr. Low said.

At its meeting last month, the US Federal Reserve kept its own policy rates unchanged at 5.25-5.5%.

Netflix raises prices and adds subscribers, despite Hollywood strikes

LOS ANGELES — Netflix increased subscription prices for some streaming plans in the United States, Britain, and France on Wednesday as it shattered expectations for new customers, sending its shares surging 13%.

Almost 9 million subscribers joined Netflix around the globe in the third quarter, surpassing Wall Street analysts’ forecast for 6 million, according to LSEG. Netflix said it expected a similar number of additions in the current quarter.

The strong performance showed Netflix was thriving despite Hollywood labor tensions that shut down a large swath of US production. Netflix makes many of its shows and movies overseas, which accounted for the bulk of its new sign-ups.

Netflix pointed to the global success of One Piece, a live-action adaptation of the venerable Japanese manga series and an example of its hefty investment in stories with local resonance that travel the world. The streaming giant also attracted new audiences to long-running television shows, such as the legal drama Suits, which it licensed from Comcast, and HBO’s World War II series Band of Brothers.

“These are the times I’m glad we have such a rich and deep and broad programming selection,” Netflix co-CEO Ted Sarandos said after the release of the quarterly results. “The same was true during COVID, when we were able to manage the slate through a prolonged and pretty unpredictable production interruption.”

Hollywood’s film and television writers ratified a new contract this month, but actors remain on strike. Mr. Sarandos said Netflix was “totally committed to ending this strike.”

The company’s third-quarter customer gains represented its strongest quarterly uptick since the second quarter of 2020, when lockdowns early in the global pandemic led to an unprecedented surge in streaming subscriptions.

Netflix increased the US price of its premium ad-free plan by $3 per month to $22.99. The cost for premium rose by £2 to £17.99 in Britain, and by €2 to €19.99 in France.

Investors welcomed the news, sending Netflix shares climbing to $390.80 in extended trading from a close of $346.19.

PP Foresight analyst Paolo Pescatore said the third-quarter growth at Netflix was a testament to its recent crackdown on password sharing and the opportunities for growth as it moves into advertising.

“It is firing on all cylinders, with recent efforts all heading in the right direction,” he said.

GLOBAL GAINS
The price hikes were announced in an earnings report that showed the company’s global subscriber base reached 247 million at the end of September.

Substantial subscriber gains came in Europe, the Middle East and Africa, where Netflix added nearly 4 million subscribers. More than 70% of its members now reside outside the United States.

During the quarter, Suits became the most-watched title across film, original TV, and acquired TV on streaming in the US for 12 straight weeks after it hit Netflix. The series, starring Prince Harry’s wife, Meghan Markle, originally aired on the USA cable network from 2011 to 2019.

“As the competitive environment evolves, we may have increased opportunities to license more hit titles,” Netflix said in its quarterly letter to shareholders.

The company posted revenue of $8.54 billion, in line with analyst forecasts. Earnings came in at $3.73 per share, ahead of Wall Street’s expectation of $3.49.

Netflix’s forecast for fourth-quarter revenue of $8.69 billion was slightly below analysts’ estimates of $8.77 billion.

The writer and actor strikes prompted Netflix to revise its projections on content spending to $13 billion in 2023, assuming the studios reach a settlement with striking actors “in the near future.”

That was down from the $17 billion it expected to spend.

Netflix said it continued to dominate viewership. Netflix programming accounted for 8% of television screen time, second only to YouTube, the company said, citing Nielsen data. — Reuters

The horrors of false hope and misplaced faith

Movie Review
In My Mother’s Skin
Directed by Kenneth Dagatan
Amazon Prime Video

By Brontë H. Lacsamana, Reporter

FOR Filipinos seeking out unique depictions of their nation’s wartime gloom and doom (and subsequent navigation of it all), there is a notable pantheon of works.

There’s Oro, Plata Mata (Gold, Silver, Death) from 1982, written by Jose Javier Reyes and directed by Peque Gallaga, set in World War II in the island of Negros, where haciendero families descend into misfortune and violence.

There’s Tatlong Taong Walang Diyos (Three Years Without God) from 1976, written and directed by Mario O’Hara, also set in WWII but in Laguna, where a teacher and a soldier’s romance is shattered by the arrival of the Japanese.

In My Mother’s Skin, directed by Kenneth Dagatan, premiered earlier this year at the Sundance Film Festival in the US, and it continues the age-old sentiments of the two, established films before it.

The same time period, a similar provincial setting, with more harrowing insights about the consequences of colonial suffering on the Filipino identity — but what sets it apart is that it basks in wartime dread as an atmospheric folk horror, experienced by a child who must learn to protect herself against false hope.

Dagatan’s film follows Tala (Felicity Kyle Napuli), a young teen desperate to cure her dying mother, Ligaya (Beauty Gonzalez), while her father has had to leave to escape accusations of stealing Japanese gold. Between her frail mother and her naive younger brother, Tala takes it upon herself to find food and medicines as the war keeps them starving, helpless, and isolated in their provincial estate.

In her journey into the jungle, she encounters a mysterious diwata or Philippine “fairy” (Jasmine Curtis-Smith) who offers her assistance. The understandable decision to trust this being, when no other alternatives exist at the moment, quickly becomes the downfall of her family.

Based on this summary, one would expect something akin to Guillermo del Toro’s 2006 fantasy Pan’s Labyrinth, which also sets a young girl on the dark side of folklore during a historically pivotal war.

However, this fairy tale is far more cruel and bloody.

Gonzalez as Ligaya is equal parts heartbreaking and terrifying as she is first weakened by a fatal illness and later possessed, gradually contorted by a parasitic, flesh-eating force. Curtis-Smith inhabits her breathtaking Santo Niño-inspired diwata garb with an eerie calm, appearing and sounding both inviting yet menacing.

Napuli as Tala is the revelation of this film, this being her first movie role coming from theater. She delivers an impressive characterization of a teenager becoming brave enough to fend for herself and her family — albeit in the worst of times, where humans both, Filipino and foreign, and creatures, seek to take advantage of their desperation. As the film goes on its blood-soaked path, she embodies the role of one so young and confused by all the terrors that beat her down, again and again.

Elevating the slow-burn frights presented by Dagatan (known for his 2015 horror short Sanctissima and his 2019 supernatural horror feature Ma) are the fascinating visuals and sound design.

Originally from Cebu and mindful of the quality of regional perspectives, it’s no surprise that his films are all drenched in the lush untamed atmosphere only found in a rural Philippine setting. Eddie Huang and Yi Ling Chen’s fantastic sound design permeates in this regard, making use of the sound of cicadas and the rustling through leaves in admirably frightening ways and conveys the heightened feeling of being trapped in a tropical environment.

The fascinating visuals are filled with religious iconography: the Catholic statues that the family pray to every day, and the diwata’s beautiful costume patterned after the iconic Santo Niño’s. Benjamin Padero’s production design provides us these images as haunting reminders of the tragic Filipino tendency towards false hope and misplaced faith, being an aggressively religious country, in keeping with how Tala falls for the diwata’s schemes.

As an atmospheric horror, In My Mother’s Skin delivers scares that are subtle yet effective, with steady narrative pacing and sometimes lacking pay-offs that only serve the dread of it all.

Coming from Sundance to a streaming platform like Amazon Prime Video (globally, might I add!) may be an unusual journey for such a singular type of film, but hopefully it finds an audience that it can both horrify yet inspire.

10 films to compete in this year’s MMFF

INSTEAD of the usual eight films, 10 will compete in the 49th Metro Manila Film Festival (MMFF) as announced on Tuesday in a post on the film festival official’s Facebook page.

The final six films that complete the festival’s lineup were chosen from 30 film submissions. They are:

Jun Robles Lana’s comedy Becky and Badette (produced by The Ideafirst Company), starring comediennes Eugene Domingo and Pokwang;

Lemuel Lorca’s comedy Broken Hearts Trip (Smart Films Productions and BMC Films), starring Christian Bables;

Zig Dulay’s fantasy drama Firefly (GMA Pictures), starring Alessandra De Rossi;

Pepe Diokno’s historical drama Gomburza (Jesuit Communications Foundation), starring Enchong Dee, Cedrick Juan, and Dante Rivero;

Derick Cabrido’s horror film Mallari (Mentorque Productions), starring Piolo Pascual; and,

Conrado Peru and Rommel Penesa’s romance When I Met You in Tokyo (JG Productions), starring Vilma Santos and Christopher De Leon.

The first four official entries were announced in July. They are:

Nuel Naval’s drama A Family of Two – A Mother and Son Story (Cineko Productions), starring Sharon Cuneta and Alden Richards;

King Palisoc’s horror thriller K(ampon) (Quantum Films), starring Beauty Gonzalez and Derek Ramsay;

Jason Paul Laxamana’s action-adventure Penduko (Sari Sari Network, VIVA Films, etc.), starring Matteo Guidicelli and Kylie Verzosa; and,

Mae Cruz-Alviar’s family drama Rewind (ABS-CBN Film Productions, Star Cinema, etc.), starring Marian Rivera and Dingdong Dantes.

The first four entries were chosen based on their scripts. The final six are all completed films.

The MMFF Selection Committee is headed by producer Jessie Ejercito.

The films were selected based on the following criteria: artistic excellence (40%); commercial appeal (40%); Filipino cultural values (10%); and global appeal (10%).

“The 10 chosen films are truly very good, based on the trailers and actors and actresses that represent these films,” said Don Artes, the acting chairman of the Metropolitan Manila Development Authority (MMDA) and chairman of the MMFF. The MMDA runs the film festival.

The 49th MMFF will run from Dec. 25 to Jan. 7, 2024 in theaters nationwide. The film festival’s Gabi Ng Parangal (awards night) will be held on Dec. 27.

For more information, visit www.facebook.com/mmffofficial. — BHL

QCinema names entries for 2023 Asian Next Wave Competition

EIGHT feature films will be competing for the Pylon Award in this year’s QCinema International Film Festival. The Asian Next Wave competition will showcase eight feature film directorial debuts from the Philippines, Malaysia, Vietnam, Japan, Taiwan, Korea, and Thailand.

QCinema will be held from Nov. 17 to 26 in various cinemas around the metropolis.

The eight films are:

Abang Adik, by Jin Ong, about two undocumented denizens in Kuala Lumpur, the deaf-mute Abang who wants to legally obtain an ID and live a decent life, and his temperamental younger brother Adi who will take any shortcut to climb out of poverty. The film swept the top prizes at Udine’s Far East Film Festival, including the award for best first feature.

Gitling by Jopy Arnaldo, starring Gabby Padilla and Ken Yamamura, is about a translator hired by a filmmaker for a film festival in Bacolod. The two become friends, bonding over stories of heartbreak, and a language that the translator made up. The film uses subtitles in novel ways, expressing what is unsaid between characters that cannot express what they are really feeling. Gitling won for Best Screenplay in the recent Cinemalaya Film Festival.

Inside The Yellow Cocoon Shell, written and directed by Thien An Pham, follows Thien, who travels to the jungles of rural Vietnam in search of a long-lost brother following the sudden death of his sister-in-law. What follows is a journey of spiritual discovery through the mystical landscape of his nation. The film had its world premiere in the Directors’ Fortnight section at the 76th Cannes Film Festival, winning the Caméra d’Or for the best first feature film.

Last Shadow At First Light, by Nicole Midori Woodford, is about Ami, who believes that her father has been lying to her about her mother’s death. She travels to Japan and finds herself on a road trip with her uncle, chasing ghosts and apparitions on the way to discovering painful truths about love and loss.

Love Is A Gun, by Lee Hong-chi, is about Sweet Potato, who spent some years in prison for working for a syndicate. He’s trying to go straight, but his past keeps catching up with him, trying to draw him back into a violent life. Love Is A Gun is the first Taiwanese film to win the best first feature at the Venice International Film Festival.

Mimang, by Kim Tae-yang, follows a man and a woman as they walk the streets of Seoul, a city that seems to keep changing as time goes by. TIFF’s Giovanni Fulvi calls Mimang “A condensed Korean indie counterpart to Richard Linklater’s Before series.”

Solids By The Seashore, a Thai romance/environmental film by Patiparn Boontarig, is set in a Southern Thai town of Songkhla, which is under threat from coastal erosion. Here Muslim poet Shati meets artist Fon, who has traveled from Bangkok for an exhibit bringing awareness to the impending environmental disaster. Shati is torn between her religious upbringing and a burgeoning affection for Fon, and faces an inner turmoil reflected in the chaos brought on by the monsoons.

Tiger Stripes by Amanda Nell Eu, is about 12-year-old Zaffan who is going through the challenges of puberty. But there’s something unusual about the changes her body is experiencing, and when the community discovers what’s happening, Zaffan is shunned and attacked. Tiger Stripes had its world premiere at the 2023 Cannes Film Festival where it won the Critics’ Week Grand Prize.

The films will be screened at Gateway Cineplex 10, Robinsons Movieworld Magnolia, Ayala Malls Cinemas’ UP Town Center, Power Plant Cinema, and Shangri-La’s Red Carpet Cinemas.

Steady property market growth seen outside NCR

By Revin Mikhael D. Ochave, Reporter

REAL ESTATE brokerage and consultancy firm KMC Savills is expecting continuous growth for property markets outside Metro Manila amid the expansion of the information technology and business process management (IT-BPM) sector in the countryside. 

KMC Savills Managing Director Michael McCullough said during a virtual briefing on Thursday that the company foresees the sustained expansion of IT-BPM companies outside the National Capital Region (NCR).

Metro Cebu, Metro Clark, Davao, Iloilo, and Bacolod are the areas included in the firm’s report on the future of Philippine regional cities.

“One of the things that we are so excited about is that the provincial areas did better than Metro Manila. There’s been more activity happening outside Metro Manila. It’s all been to the provinces. Companies want to go where the best employees are,” Mr. McCullough said. 

“A lot of people during the pandemic returned to the provinces. That’s where the companies want to move back to. There’s been available decent quality (office stock), IT-grade, and companies have taken advantage of the lower rates to set up offices where their employees are located. This reduces attrition and lowers costs. We expect this to continue,” he added. 

Aside from IT-BPM firms, other industries that are expanding their office space in provinces include providers in the flexible office, e-commerce, and logistics sectors. 

“Flexible office providers are expanding slowly but surely in these regional provinces because they do know that there is demand for them to expand there,” said KMC Savills Chief Operating Officer Cha Carbonell.

“E-commerce and logistics providers who need satellite offices in those areas are also expanding in the regional areas. The demand [for] office space is still predominantly occupied by the IT-BPM sector,” she said, adding that other types of industries help in the absorption of office space in regional cities.

The report showed that the Metro Cebu property market is expected to withstand any supply pressure as the IT-BPM sector increases its presence.

Metro Cebu logged a 20.9% vacancy rate in the first half of the year and 1.25 million square meters (sq.m.) of current office stock. 

“Due to the recovery in demand, Cebu’s vacancy rate is forecasted to return to pre-pandemic levels by 2025,” KMC Savills Executive Director John Corpus said. 

For Iloilo City, KMC Savills said the overall vacancy rate improved to 8.1% in the first semester after the completion of Cybergate Iloilo Tower 2 in Pavia. The city currently has 209,700 sq.m. of office stock.

“Grade B stock saw a massive drop in its vacancy rate to 13.1% from 22.7% at the end of 2022. The report is optimistic that vacancy rates should remain in single digits despite another 22,500 sq.m. of new office space in second half of 2023,” KMC Savills said. 

The report said that Bacolod logged a 13.5% vacancy rate in the first half amid struggling demand, which is projected to improve in the coming quarters. The area has 187,128 sq.m. of current office stock. 

“Leasing activity may improve in the coming quarters as demand is expected to spill over from neighboring Iloilo. Conditions are expected to be static in the next term, but leasing activity has picked up in recent months,” KMC Savills said.

For Davao, KMC Savills said the overall vacancy rate fell to 6.4% in the first half from 12.1% at the end of last year. The area has 231,384 sq.m. of current office stock. 

“Davao remains one of the most affordable markets in the country amidst the influx of demand from outsourcing firms. Unlike the other office markets in VisMin, Davao still lacks a sizeable cluster of townships that can command above-average rates,” KMC Savills said.

“However, KMC Savills forecasts that the current demand trend may be an opportunity for developers to rethink their strategy in the region,” it added.

Meanwhile, the report said that Metro Clark has logged a 33.6% vacancy rate in the first half. The area has 432,058 sq.m. of current office stock.

“Office buildings outside of Clark Freeport Zone have performed better with their vacancy rate averaging 25.3% in the same period. Although the overall vacancy rate is higher than some submarkets in Metro Manila, leasing activity in Metro Clark has been healthier in the capital — albeit at specific locations only,” KMC Savills said. 

“Overall, KMC Savills reports that the total office stock in Iloilo, Bacolod, and Davao are not as sizeable as Metro Cebu or Metro Clark, however, the increased demand for these markets should trigger developers to construct new Grade A office buildings or introduce new business districts,” it added.

Stuff to Do (10/20/23)

Piolo Pascual in one-night concert

PIOLO PASCUAL will hold a one-night concert at the Newport Performing Arts Theater on Oct. 20, 8 p.m. Billed as a showcase of his vocals, appeal, and music, the show will feature tracks that Mr. Pascual has popularized, such as “Paano Ba ang Magmahal” from his 2015 hit movie The Breakup Playlist, “One More Chance,” “Kailangan Kita,” and “Timeless.” Tickets are now available at all TicketWorld and SM Tickets outlets. Ticket prices range from P1,500 to P8,500.

Newport partners with OPM artists for Oktoberfest

COMBINING good food and good music will make the Newport World Resorts (NWR) rendition of Oktoberfest a memorable one this year, as they join forces with popular FM radio station Magic 89.9 for a special celebration at El Calle Food & Music Hall from Oct. 20 to 21. The two-day celebration will see rising OPM artists share the spotlight with German food and beers. The first day focuses on fresh voices: singer-songwriter Rhodessa and R&B artist Earl Agustin. The second day will feature acoustic balladeer CARLO and singer-songwriter Amiel Sol. These performances will be accompanied by hearty sausages and German beers. For more information on NWR’s Oktoberfest, visit https://www.newportworldresorts.com/oktoberfest2023

German Film Fest at Gateway

GERMAN comedian and author Felix Lobrecht and director David Wnendt will be answering questions from Filipino audiences after a screening of their film, Sun and Concrete, which is showing in the Goethe-Institut Philippines’ KinoFest this Oct. 22 at Gateway Cineplex. They will discuss the collaboration that went into the making of the film, which is a coming-of-age and crime film where four boys plan a theft at their school. The Q&A session will be moderated by Filipino writer and filmmaker David Fabros. KinoFest, a showcase of some of the hottest films to come out of Germany in the past two years, returns fully offline for the first time after the pandemic. It features seven films that offer us a chance to delve into the rich variety of German cinema, and four experimental films from Germany and the Philippines. The KinoFest runs from Oct. 20 to 22 at Gateway Cineplex 10, Cinemas 6 and 7, Gateway Mall, Araneta City, Cubao, Quezon City. To be shown are Sun and Concrete, Ehala, The Ordinaries, Happy Lamento, Orphea, Toubab, Republic of Silence, Sisi and I, Hao are You, Aligato: The Brief Life of an Ember, and Love is a Dog from Hell.

GLOBE holds first ‘Hear For It’ Podcast Festival

Globe joins ANIMA Podcasts in co-presenting the first-ever Philippine Podcast Festival, “Hear For It!,” to be held at the Glorietta 2 Palm Drive Activity Center in Makati City on Oct. 20, from 10 a.m. to 7 p.m. At the festival, participants may access the Globe Creator Pod via the GlobeOne app and support a cause at the same time. By donating two Globe Rewards points to the Globe-led Hapag Movement, they can use the pod for 10 minutes, record their own podcast, and upload it to their own personal file. The Hapag Movement is a Globe-led effort to combat involuntary hunger through supplemental feeding and sustainable livelihood support. The event will also feature thought leadership sessions and panel discussions with some of the country’s most prominent podcast creators from ANIMA Podcasts, The Podcast Network, and Spotify Podcasts such as Paano Ba ‘To?! Podcast by Bianca Gonzalez, Intellectwalwal by Victor Anastasio, Linya Linya Podcast by Ali Sangalang, Wake up with Jim and Saab, The Koolpals, Ang Walang Kwentang Podcast by Antoinette Jadaone and JP Habac, Anyare Saeyo? by Kristel Fulgar and Moy Esguerra, and Queertuhan with Roanne and Tina. Aspiring audio creators can also learn about the tools and equipment essential for podcasting, gain insights on how to monetize content, and receive mentorship from seasoned podcasters. Globe customers also get the exciting opportunity to win one of 20 all-access passes to meet their favorite podcast creators through a special raffle.

NCCA celebrates Nat’l Indigenous People’s Month

THE National Indigenous People’s (IP) Month will officially be celebrated on Oct. 20 to 21 at the Metropolitan Theater and Aroceros Park, both in Manila, as per Presidential Proclamation No. 1906 from 2009, which mandates the “recognition and protection of the rights of Indigenous Cultural Communities (ICCs)/IPs.” The National Commission for Culture and the Arts will mark the occasion by opening an arts and crafts fair, with demonstrations and workshops, at the Arroceros Park. They will also launch an IP exhibit at the Metropolitan Theater’s Gallery of Stars. Selected universities will be taking part in a cultural outreach with the IPs. This year’s theme is “Buháy na Dunong: Pagkamalikhain at Kalikasan” (Living Heritage: Creativity and Nature), which highlights how both the creativity of the IP and the richness of nature sustain intangible cultural heritage, according to the NCCA. Admission is free for the two-day event.

Limited run for Silver Lining musical

Rockitwell Studios and MusicArtes, Inc. present a brand new Filipino musical, Silver Lining, at the Carlos P. Romulo Auditorium, RCBC Plaza, Makati, with a limited two-weekend run with shows on Oct. 20 to 22, and Oct. 27 to 29. An original work with modern rock and pop music, Silver Lining is a journey of rediscovery in two timelines, reliving the challenging times of the 1970s as well as understanding the struggles and conflicts of today’s youth. PETA’s Maribel Legarda directs Silver Lining, whose script is by Palanca-awardee Joshua Lim So, with lyrics and music by Jack Teotico, with additional music, lyrics and musical direction by Vince Lim, and choreography by PJ Rebullida. Ricky Davao leads the cast which also includes Noel Comia Jr. and Krystal Brimner of Star Magic. Tickets are available at Ticket2Me.net or bit.ly/ silverliningmusical.

Alice Reyes Dance PHL’s Carmen and Other Spirits

ALICE REYES Dance Philippines (ARDP) will stage Carmen and Other Spirits from Oct. 20 to 21 at the Samsung Performing Arts Theater in Circuit, Makati. A mixed bill featuring four dances that confront current issues in society, it is co-presented by the Cultural Center of the Philippines and its Professional Artist Support Program, and features dance trainees from Guang Ming College, Philippine High School for the Arts, De La Salle College of Saint Benilde, and other independent performers. The program is top-billed by Carmen, choreographed by National Artist for Dance Alice Reyes, springing off from Propsper Merimeé’s 1845 novella of the same title about Don Jose, who is infatuated with the titular Gypsy woman Carmen. The “other spirits” in the program are three works by the country’s top Filipino choreographers: Alden Lugnasin with his piece that echoes synchronized swimming movements, Swimming the Ilog Pasig; Ronelson Yadao, artistic director of ARDP, who essays the importance of interdependency of two individuals in his work Two; and Lester Reguindin’s Now, which draws inspiration from young environment activist Greta Thurnberg and her bold speech at the United Nations’ Climate Action Summit in 2019. Tickets can be booked via TicketWorld.

NeoFilipino features distinct styles

THE return of CCP Choreographers Series’ NeoFilipino, on Oct. 20, 21 and 22 at the Tanghalang Ignacio B. Gimenez (CCP Blackbox Theater) in Pasay City, marks the third and final tier of the CCP Choreographers’ Series. It is a platform for established artists to collaborate with other art forms in creating new works with distinct choreographic styles, following WifiBody.ph and Koryolab. NeoFilipino 2023: In Transit will feature choreographers Christine Crame, Jose Jay Cruz, and Al Garcia, who have each built a distinct choreographic voice and style of dance. It is directed by dancer and choreographer Ms. Crame, with set design by Tuxqs Rutaquio, and projection mapping by Ces Valera. Its institutional supporters are De La Salle-College of Saint Benilde, Guang Ming College and Myra Beltran’s DanceForum. The P500 tickets are available at the CCP Box Office and at TicketWorld (https://premier.ticketworld.com.ph/shows/show.aspx?sh=NEOFILI23).

Ayala Museum hosts Ambeth Ocampo lecture

TO encourage people to learn more about Philippine arts, culture, and history, the Ayala Museum is presenting the “History Comes Alive: Eras” lecture series by Dr. Ambeth Ocampo. The second lecture, on Oct. 21, Saturday, focuses on Juan Luna’s long-lost painting, Hymen, oh Hyménée and how it affects people’s perception of Juan Luna, his art, and his time. The painting was first unveiled to the public at the Ayala Museum last June in time for the 125th anniversary of Philippine Independence. It is the centerpiece of the museum’s “Splendor” exhibit, which runs until the end of the year. To learn more about Ayala Museum Memberships and the museum’s latest activities, visit ayalamuseum.org.

The Italian Film Festival returns

THIS year, the Italian Film Festival in Manila delves deeper into Italian culture, life, and art and will run from Oct. 21 to 24 at the Cineplex, Cinema 3 of the Venice Grand Canal Mall in McKinley Hill, Taguig City. It will feature six recent films: Diabolik where love and crime mix in a series of adventures by Antonio and Marco Manetti; Leonora Addio by Paolo Taviani which tells of the adventure of the urn of ashes of Pirandello and its journey from Rome to Agrigento; Il Colibrì (The Hummingbird) by Francesca Archibugi which follows a man from the 1970s to the near future and the myriad relationships on his path; Il Ritorno Di Casanova by Gabriele Salvatores follows the famous Venetian libertine as he has trouble facing the fact that he’s over 60; Settembre by Giulia Steigerwalt is set on a September day when three people realize that the life they find themselves in is not the one they had dreamed of; Diabolik Ginko All’attacco by Antonio Manetti and Marco Manetti continues the story of Diabolik as the film follows his escape from Inspector Ginko’s latest trap. One film will be screened on opening night on Oct. 21; on Oct. 22 and 23, two films will be featured at 6:30 and 8:30 p.m.; and the last film will be shown on Oct. 24 to close the Italian Film Festival. All screenings will be available to the public (on a first-come, first-served basis) and are free of charge. The Italian Film Festival is organized by the Philippine-Italian Association under the auspices of the Embassy of Italy in the Philippines.

Lukas Graham to perform in Manila

SINGER-SONGWRITER Lukas Graham is set to perform live in Manila on Oct. 22 at the New Frontier Theater in Quezon City. From humble beginnings in a Copenhagen hippie commune to sharing the red carpet with the likes of Adele, Justin Bieber, and Beyoncé in Hollywood, Lukas Graham makes headlines for his music exploring his journey of self-discovery. He will be joined in his Manila concert by fellow Universal Music artist, Juan Karlos, whose song, “Ere,” recently made history as the first Filipino song to appear on the Spotify Global Chart. Tickets to the show, ranging in price from P3,105 to P4,925, are available via ticketnet.com.

Coke Studio joins MassKara Festival

On Oct. 22, Coke Studio Philippines takes to the MassKara festival’s Sunset Stage at North Capitol Road in Bacolod City to transform it into a party hub. Bacolod City’s annual MassKara Festival is celebrated for its vibrant colors, distinctive masks, and contagious energy. It is known for its epic street parties, with MassKaraland being the biggest. Coke Studio Philippines’ concert is headlined by Sarah Geronimo and PLAYERTWO, and also features local talents like Ferdinand Aragon, the Aire Band, and Mojo Nova.

Last weekend for PETA’s Walang Aray

THE PHILIPPINE Educational Theater Association (PETA) is bringing back its recent musical sensation, Rody Vera’s Walang Aray, an irreverent reimagining of Severino Reyes’ classic zarzuela Walang Sugat. This combination of Mr. Vera’s libretto, original catchy tunes by Vince Lim, and director Ian Segarra’s storytelling runs on PETA’s theater stage from Oct. 6 to 22. The musical is led by seasoned theater actors Gio Gahol and Marynor Madamesila, together with Shaira Opsimar and Jon Abella, playing the star-crossed lovers Julia and Tenyong. The feel-good musical romp garnered 21 mid-year citations at the Gawad Buhay Awards in its previous run, including Outstanding Musical, Original Score, Ensemble Performance, and Choreography. The limited three-weekend run of Walang Aray can be seen at the PETA Theater Center, Quezon City. Tickets are now on sale via TicketWorld.

Ang Unang Aswang has shows til December

THE FINAL production in the FEU Theater Guild (FTG)’s 89th season is Ang Unang Aswang. Written by Palanca awardee playwright Rody Vera and directed by FTG’s Artistic Director Dudz Teraña, the play is about the unusual life of a girl, abandoned as a baby in the forest, who is raised by a dog, cat, and boar. The Aswang will alternately be played by Dianne Andallo, Jazzie Alejo, Brigitta Marilla, and Margarita Barrameda. Raffaele Pascua and Arvin Jade Javier alternate as Aso, Davewyn Macawile plays Pusa, Jonas Cunanan is Baboy Ramo, Aaron Bayani is The Binata while The Asawa is played by Kesiah Aritao. The show will run every Wednesday, Thursday, Friday, and Saturday until Dec. 9 at the FCA Studio, Engineering Bldg. at FEU Manila, Nicanor Reyes St., in Sampaloc, Manila. Tickets are priced at P200 for the FEU community and P400 for guests. For details, visit the official webpage of FTG: feutheaterguild.com or FTG’s social media pages.

Maynilad sets aside P1.14B to upgrade water treatment plants

THE west zone water concessionaire’s intended improvement is in response to the worsening quality of the raw water from Laguna Lake.

MAYNILAD WATER SERVICES, Inc. is setting aside P1.14 billion to upgrade its two water treatment plants in Putatan, Muntinlupa City.

In a media release on Thursday, the west zone water concessionaire said the upgrade would include the material and structural reinforcement of the facilities’ existing silt curtain and strengthening of the sludge management system.

Maynilad added that the provision of activated carbon dosing at the intake, and the replacement of all ultrafiltration membranes are among other enhancements.

The intended improvements are in response to the “worsening quality” of the raw water from Laguna Lake, the company said.

“The PWTP (Putatan water treatment plant) upgrades, which Maynilad has been implementing in phases, enabled the company to sustain normal water production since June 2023 despite sudden shifts in the lake water’s quality,” it said.

The previous upgrades led to an improvement in service availability for the company’s customers compared to the previous year, it said. This was when the water production of WTPs would immediately drop following spikes in total dissolved solids, algae proliferation, and the presence of organic and inorganic matter in the lake water.

“We have had to incorporate additional treatment processes at Putatan WTP to handle some quality parameters of Laguna Lake that now occur at levels not seen from recorded prior 10-year experience,” said Randolph T. Estrellado, chief operating officer of Maynilad.

“This investment is essential so we can continue to maximize the lake’s strategic value as a water source for Metro Manila,” he added.

According to Mr. Estrellado, the improvements were aligned with the recommendations of the Public Utility Board, Singapore’s national water agency.

At present, the two treatment plants supply 300 million liters per day (MLD) of potable water to around 1.7 million customers south of Metro Manila.

In August, Maynilad said the construction of the P11-billion WTP located in Poblacion, Muntinlupa was 80% complete and is expected to produce an initial 50 MLD of potable water by December this year.

The treatment plant will be Maynilad’s third facility to tap Laguna Lake as an alternative source of raw water to Angat Dam.

Maynilad serves Manila, except portions of San Andres and Sta. Ana. It also operates in Quezon City, Makati, Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas, and Malabon.

It supplies the cities of Cavite, Bacoor, and Imus, and the towns of Kawit, Noveleta, and Rosario, all in Cavite province.

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

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

Entertainment News (10/20/23)

Gloc-9, Ramdiss, Hero to headline Spotify concert

THE Spotify KALYE X concert series is now heading to its grand finale in Manila, starring hip-hop legend Gloc-9, together with rising lyricist Ramdiss and flow master Hero. They will unveil the final track of the three first  original Filipino hip-hop Spotify Singles as part of KALYE X during the show. In partnership with Wish 107.5, the concert will take place at the Circuit Event Grounds in Makati on Oct. 28, free of charge. To join the hip-hop celebration, audience members must be 18 years old and above, have a pre-registration QR code, a Spotify account, and a valid photo ID with birthdate. Gates will open at 4 p.m. for Spotify Premium users, giving them an exclusive sneak peek at the artist soundcheck, while free users can start entering the venue at 5:30 p.m. Visit the #SpotifyKalyeX Manila event page for more information.

TV5 and PBA partner with A2Z for free TV

THE PHILIPPINE Basketball Association (PBA), together with TV5, announced the league’s new free-to-air home for its 48th season is A2Z. “TV5 continues to be a strong supporter of the PBA and Philippine Basketball as a whole. The partnership with A2Z ensures that Filipinos nationwide have widespread access to live PBA Games on free-to-air and opens up new audiences to experience the country’s top basketball league,” said TV5 President and CEO Guido Zaballero in a press statement. Once the league tips off on Nov. 5, fans can watch the PBA games live on A2Z every Wednesday, Friday, and Sunday, with weekday games airing at 4 and 8p.m., while weekend games tip off at 3 and 6:15 p.m.

Disney+ launches docu series on Formula 1 legends

A NEW four-part unscripted documentary series with Keanu Reeves will share the story of Brawn GP and their remarkable Formula 1 championship season. Brawn: The Impossible Formula 1 Story will premiere on Disney+ on Nov. 15. In it, Reeves is host and executive producer, and it will center on Formula 1 legends Ross Brawn, Jenson Button, Nick Fry, Rubens Barrichello and Christian Horner. The unscripted documentary series tells the story of how Brawn, in 2009, competing in the most expensive and technologically advanced racing series on Earth, made his understaffed, underfinanced, and independent team win the World Championship, taking on the biggest titans of the industry. It is a North One production developed, written, and produced by showrunner Simon Hammerson with three-time BAFTA-winning executive producer Neil Duncanson and directed by 2022 Broadcast best sports documentary winner Daryl Goodrich. Brawn: The Impossible Formula 1 Story will be available on Disney+ on Nov. 15.

SHANNi marks her official debut as recording artist

YOUNG singer-songwriter SHANNi officially makes her entrance as a recording artist with single that showcases vulnerability beyond her years. Titled “sa panaginip,” the song features a lilting, throwback sound and jazz-pop edge. It was inspired by The Eternal Sunshine of the Spotless Mind, a movie about love’s inevitable imperfections and the difficulty of purging the memories that once defined it. SHANNi wrote the track when she was in 10th grade after watching the film for the very first time. One Click Straight’s Sam Marquez mixed and mastered the song, while SHANNi’s older brother Blaster Silonga (IV of Spades) contributed background vocals. The single is out now on all digital music platforms worldwide under Sony Music Entertainment.

The Final Pitch Season 9 successfully wraps

THE Final Pitch, the country’s leading business reality show, has concluded its ninth season with JLabs, an offshore tech development firm headed by CEO Julius San Pascual, clinching a half-million dollars multi-year engagement for projects with UnionDigital Bank, offered by Henry Aguda, President and CEO of UnionDigital Bank. Aligned with the show’s overarching theme of “Open Edition,” which championed diversity and inclusivity, technology and non-technology entrepreneurs who advanced to the finale were also met with offers from the investor-judges. Mylo Speech Buddy System, a video-streaming platform for children on the autism spectrum, garnered support for a kickstarter campaign launch from Brian Poe-Llamanzares, President of Pantheon Holdings. Unisol, a clothing company, received a deal from Robert Scott, Vice-President for Hotel Operations of Okada Manila, to be the supplier for the hotel’s uniform requirements. Mommyki, a super app for pets, and Likhaan, an online platform for artists and artworks, both earned an offer of embedding goods insurance from Rico Bautista, President and CEO of Etiqa Life & General Assurance Philippines. The 10-episode series, hosted by show creator John Aguilar, aired on CNN Philippines, and the entire series is now available on The Final Pitch YouTube channel.

1999 WRITE THE FUTURE releases debut single

88RISING has released the official audio and music video for “World Stop Turning,” a new single from its new media & artist collective, 1999 WRITE THE FUTURE. For its launch, the collective tapped artists Rich Brian, Warren Hue and Zion.T for the R&B song. In the track, the singer/rapper trio reminisce on former relationships, looking back on spurned lovers who won’t be missed when the world stops turning. The accompanying music video portrays the three of them spending a Sunday afternoon with friends and familys. “World Stop Turning” is now available on all streaming platforms.

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