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Shell National Students Art Competition: Filipino strength highlighted in winning works

THE WINNING works in this year’s Shell National Students Art Competition were images of unsung heroes of Philippine society, from hardworking farmers and steadfast artisans to everyday Filipinos upholding cultural traditions.

Following the post-pandemic return to in-person activities, the Shell Pilipinas Corporation’s 56th National Students Art Competition (NSAC) received a record-breaking 2,900 entries across all categories.

“The ingenuity displayed by our participants, their choice of subjects and the stories woven into their art pieces all resonate the profound truth, that the Philippines is a nation that is always moving forward through their creativity and vision,” Serge Bernal, Shell Pilipinas’ Vice-President for Corporate Relations, said in his opening speech on Nov. 28.

He told BusinessWorld after the program that during the pandemic, the number of entries went up since the online format gave wider access. The worry this year was that going back to the physical might mean fewer participants.

“We were surprised to find the numbers actually went even higher,” he said. “This year, we also visited more schools in the regions. If we could bring this to all 7,000-plus islands, we would.”

There were five categories in NSAC this year: Digital Fine Arts, Sculpture, Watercolor, Oil and Acrylic, and the newest category Photography, which was reintroduced for the first time since 1972.

The top winners in each category had recurring messages of the value of Filipino strength and spirit, in keeping with this year’s theme “Galíng Pinoy, Galing Pinoy.”

In the Digital Fine Arts Category, Mary Dawn Jane Monterde of Holy Trinity University in Palawan won first place for her work, Beyond Illumination, which depicts a kerosene lamp’s fire lighting up various facets of the Filipino spirit. Speaking about her work, Ms. Monterde said that her fellow countrymen served as her main inspiration.

Weaving the Narrative by Judhea Java of University of the Philippines Cebu won the Oil and Acrylic Category. The subjects of the piece are women artisans who take on the noble task of continuing the local weaving tradition even in contemporary society. “Indigenous weavers are often marginalized, so I wanted to champion them and show how important they are in weaving the different narratives of Filipino people today,” said Ms. Java.

In the Watercolor category, Glenn Gonzales of the University of the Philippines Diliman won for his painting titled Inaaning Tagumpay. The piece presents a farmer holding up his produce amid the fields. Mr. Gonzales said that it is inspired by his hometown, Nueva Ecija, which is rich in agricultural produce provided by farmers who tirelessly work, day after day, to look after their crops.

The winning work in the Sculpture category is also inspired by farmers. John Patrick Gante of the Bulacan State University won for his sculpture Resilience Unearthed, which depicts a farmer hard at work. For him, the piece is a tribute to “the unsung heroes of our society.”

Finally, Tarlac State University’s Marniel Daguio won first place in the Photography category for his work titled Rahuyo ng Mapag-asang Tala. He said that capturing the act of a cultural tradition being upheld by members of the local community, in the form of hanging a simple parol (star-shaped Christmas lantern), was very important to him.

The 2nd and 3rd place winners are: Mayamang Pamayanan by Mary Ashley Sophia Chikiamco, and Hanapbuhay: Hanap Sining by Jahn Aldrin Carilimdiliman in the Digital Fine Arts category; Prinsipyo by John Lester Garcia, and Faceted Identities by Markus Gabrielle Gallegos in the Oil/Acrylic category; Nak, Uuwi na si Mama by Edward Russel Romero, and Pagsibol by Shereen Yancy Millet in the Watercolor category; Hiraya by Ace Brian De Leon, and Kakanyahan ng Bayanihan by Gerald Ed Chua in the Sculpture category; and Buhay by Jennielyn Liezel Sala, and Pahiyas ng Kamay by Connie Grace Carlos in the Photography category.

This year’s judges were: Ross Capili, Lex Kabigting, and Pablo Biglang-Awa, Jr. for the Digital Fine Arts category; Marina Cruz, Rodel Tapaya, and Ronald Ventura for the Oil/Acrylic category; Kenneth Esguerra, Nemi Miranda, and Renato Habulan for the Watercolor category; Michael Cacnio, Toym Leon Imao, and Ram Mallari for the Sculpture category; and Jorell Legaspi, Ardie Lopez, and Edwin Tuyay for the Photography Category.

Launched by Shell Pilipinas in 1951 as a search for art to feature in its calendar, NSAC grew to become the longest-running Philippine student art competition. Among NSAC’s winners were Jose Joya, Ang Kiukok, and Benedicto “BenCab” Cabrera — all National Artists today.

For updates on the virtual gallery of winners, visit Shell Pilipinas’ social media accounts. — Brontë H. Lacsamana

AirAsia parent plans potential  IPO for Philippine operations

FASYAH HALIM-UNSPLASH

By Ashley Erika O. Jose, Reporter

CAPITAL A Berhad, the parent firm of AirAsia Philippines, said it would continue to expand its funding sources including through an initial public offering (IPO) for its operations in the Philippines.

In a media release, the Malaysian multinational company said fund-raising efforts are continuing after the group secured debt financing amounting to $179 million from Bangkok Bank and Citibank.

“The impending revenue bond of $200 million from the international credit market will be the first capital raise earmarked for the expansion of the airline, which will be followed by an equity raising including potential IPO issuance for AirAsia Philippines,” the group said.

The company said it expects its lease liabilities to be restructured by December, adding that the group recorded revenues of 4.2-billion Malaysian ringgit.

“In the coming months, the Group anticipates making significant announcements regarding asset disposals and public listings, positioning the company on a solid foundation for future growth,” it said.

“As we approach the final quarter, we are expecting a revenue upswing, exceeding pre-pandemic levels. This optimistic outlook is based on robust travel demand during the peak season, which enables us to command premium fares and boost ancillary income,” said Bo Lingam, chief executive officer of AirAsia’s aviation group.

The financial performance of AirAsia Philippines and the overall market conditions are among the factors that could affect investors’ appetite for the planned IPO of AirAsia Philippines, analysts said.

“AirAsia Philippines has a strong track record of profitability, and investors may be attracted to its low-cost business model. However, the airline is also facing challenges from rising fuel costs and increased competition,” Globalinks Securities and Stocks, Inc. Head of Sales Trading Toby Allan C. Arce said in a Viber message.

The aviation industry is still recovering from the pre-pandemic levels and some investors may still be cautious about investing in airlines, Mr. Arce said.

“However, the Philippine aviation market is expected to grow in the coming years, driven by increasing tourism and a growing middle class,” he said.

According to the Department of Tourism, the country welcomed 4.82 million international visitors as of November, which exceeded its target for 2023 at 4.8 million.

“The ultimate success of the IPO will depend on the overall market conditions and the airline’s ability to execute its growth strategy. It’s a challenging time for an IPO for AirAsia Philippines, but it’s not impossible,” Mr. Arce said, citing inflation and interest rates, which are also factors that could affect investor appetite.

Headline inflation further slowed to 4.1% in November from 4.9% in October on lower prices of food, transport, and restaurant and accommodation services, according to the Philippine Statistics Authority on Tuesday.

November inflation, for the 20th straight month, was still above the 2-4% target.

“Market appetite for airline stocks remains subdued. Interest rates remain elevated and the shares of Cebu Pacific and Philippine Airlines are trading near their 52-week low, so it is not the best time for AirAsia to IPO,” China Bank Capital Corp. Managing Director Juan Paolo E. Colet said in a Viber message.

Mr. Colet said that a potential IPO window can open in the second half of 2024 citing expectations of a dovish shift in monetary policy and better growth prospects.

BusinessWorld sought AirAsia’s comments about its timeline for its planned IPO but it has yet to reply at the deadline.

The feasibility of an AirAsia Philippines IPO depends on carefully balancing economic headwinds with industry-specific challenges and the company’s unique strengths. By strategically navigating these complexities, AirAsia Philippines could potentially succeed in its IPO ambitions,” Mr. Arce said.

Rep lines up Jose Mari Chan musical, Philippine folklore for children in 2024

THE REPERTORY PHILIPPINES theater company announced its 86th season on Dec. 4 at Greenbelt 1’s Onstage Theater.

FOR its 87th season — and its first full season post-pandemic — Repertory Philippines (Rep) will present more Filipino stories in 2024, including an original jukebox musical featuring the music of Jose Mari Chan and a musical adaptation of a children’s short story on Philippine folklore.

It will also be Rep’s first season away from its longtime home, Greenbelt 1’s Onstage Theater, which is closing its doors in January. Rep will instead mount its productions at RCBC Plaza’s Carlos P. Romulo Auditorium, in Makati.

“We all know why it’s been dark the past four years. Though Rep has actually managed to keep afloat with one production every year, this rabbit hole of darkness is over. We are emerging bigger, better, and stronger than ever,” Mindy Perez-Rubio, Rep’s chief executive officer and president, told the press on Dec. 4 at the Onstage Theater.

On presenting Filipino stories, she explained that, after 56 years, 86 seasons, and 462 productions, it is about time Rep championed local theater.

“We definitely want to tap millennials and Gen Z, and that is why we are going this direction. It is also something we need to cultivate because Rep has only had around three original productions. Now, we’ll have two more,” she said.

THE 87TH SEASON LINEUP
Rep will stage four productions in 2024, each targetting a particular market and tackling love in different ways.

Opening the season is Betrayal, one of the best-known plays of British theater icon and Nobel Prize winner for Literature Harold Pinter. The story employs a reverse-chronological structure to examine the consequences of an extramarital affair on three complex individuals. Directed by London-based actor and theater director Victor Lirio, it also stars London-based Filipino actors James Bradwell, James Cooney, and Vanessa White.

Concurrent with the production’s run in March is The Bridge Project, a skills exchange program where Betrayal’s Filipino-British director and actors will hold free masterclasses, lectures, and readings for local theater practitioners.

Betrayal will run from March 1 to 17.

Next is the second longest-running Off-Broadway musical, I Love You, You’re Perfect, Now Change, written by Joe Di Pietro (book and lyrics) and Jimmy Roberts (music). It is a series of vignettes on love and relationships between singles, wallflowers, urbanites, seniors — you name it — all played by a cast of four. It will be directed by Menchu Lauchengco-Yulo, with Ejay Yatco as musical director and Joey Mendoza as set designer.

“It tackles everything people thought about dating and marriage, lovers, and in-laws, but were just too afraid to confront and admit,” Ms. Lauchengco-Yulo said of the story at the press conference,

I Love You, You’re Perfect, Now Change will run from June 7 to 30.

Rep’s third production of the season will be a Repertory Theater for Young Audiences (RTYA) offering, Jepoy and the Magic Circle. An adaptation of the children’s short story “The Magic Circle” by Philippine literature icon Gilda Cordero-Fernando, the light-hearted musical is all about Filipino folklore. It centers on Jepoy and his dog, Galis, as they enter the whimsical balete world to attend a tikbalang wedding and befriend kapres, aswangs, and tiyanaks. Directed by RTYA creative director Joy Virata, the adaptation will be written by Rody Vera with music and lyrics by Ejay Yatco.

“RTYA stuck to well-known fairytales as we built our audience. What Rep knew was Western theater, and that’s what we developed,” Ms. Virata said, on why do a local story now after all this time. “It takes a long time to do a musical. It’s fate that I found Ejay and Rody so we could finally do this.”

As for its differences from an existing adaptation of the story by Dulaang UP called Umaaraw, Umuulan, Ikakasal ang Tikbalang, Mr. Vera added: “Like how Grimm’s fairytales can be very grim, Filipino folk creatures are material for horror but also relatable and fascinating to young people. We will introduce these characters in a different light, with ballet and stage lighting.”

Jepoy and the Magic Circle’s show dates will be announced later.

Finally, Rep 2024 will cap off the season with Going Home to Christmas, an original jukebox musical featuring the music of Jose Mari Chan, whose name has become synonymous with Christmas. It will be directed by Leo Rialp and written by Robbie Guevara, Luna Griño-Inocian, and Joel Trinidad, with additional scenes by Cathy Azanza-Dy.

Though the story is still being written, Ms. Griño-Inocian teased that it centers on relationships — between father and son, husband and wife, boyfriend and girlfriend. “It is set in an airport because everyone is going home for Christmas,” she said. “It’s sort of like Love Actually except it’s very Pinoy in sentiment and a lot of the stories will sound familiar.”

Going Home to Christmas will run from November to December, in time for Christmas in 2024.

For updates, show schedules, ticket inquiries, and season passes, visit www.repertoryphilippines.ph, and repertoryphilippines on Facebook and Instagram. — Brontë H. Lacsamana

Meralco expects lower power generation charge for December

POWER DISTRIBUTOR Manila Electric Co. (Meralco) is expecting a lower generation charge for December amid a decline in demand and fewer plant outages.

“Initial indications show a possibility of lower generation charge this coming December,” Meralco Spokesperson Joe R. Zaldarriaga told reporters in a Viber message.

“We observed an improved supply situation due to lower demand and fewer plant outages, which are expected to bring down prices in the WESM (Wholesale Electricity Spot Market),” he added.

According to Meralco’s monitoring, the average capacity on outage was lower by more than 600 megawatts (MW) while the average demand likewise was lower by around 400 MW.

As of early October, the average WESM price in Luzon rose to P7.58 per kilowatt hour (kWh) from P4.87 kWh in September. Electricity spot market price also rose in the Visayas to P8.49 per kWh from P6.36 per kWh previously.

Meanwhile, the average spot market price in Mindanao declined to P4.96 per kWh during the period, from P5.71 per kWh in September.

In November, the power distributor raised its household rate by P0.23 per kWh, bringing the overall rate for a typical household to P12.05 per kWh due to an increase in transmission charges.

The electricity rate was higher than last month’s P11.82 per kWh.

The transmission charge increased by P0.12 per kWh due to higher ancillary service charges, which then climbed to P91.35 per kWh.

Generation rates last month also jumped by P0.07 to P7.19 per kWh.

Currently, Meralco is looking for suppliers for its 1,800 MW and 1,200 MW baseload capacity supply requirements to ensure a continued supply of electricity for its consumers.

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

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

Daikin and Mandaue City ink landmark deal for energy efficiency 

1) MOU signing ceremony. (From left): Philippines Green Building Council Chief Executive Officer Christopher Dela Cruz; Mandaue City Councilor Jennifer del Mar; Mandaue City Mayor Jonas Cortes (joining online from Mandaue City); Daikin Airconditioning Philippines President Takayoshi Miki; and Daikin Industries General Manager of Global Operations Division Junichi Ohmori officially sign the MOU between the City of Mandaue and Daikin Airconditioning Philippines.

Daikin Airconditioning Philippines Inc. and the City of Mandaue forged a strategic partnership to boost technology cooperation for sustainable urban development and energy efficiency. The two parties signed a Memorandum of Understanding (MOU) at the Technology and Innovation Center (TIC) at Daikin’s Yodogawa Plant in Osaka, Japan on Nov. 16, 2023.

Daikin Airconditioning Philippines, a subsidiary of Daikin Industries, Ltd., the world’s largest air conditioning manufacturer headquartered in Osaka, will support the City of Mandaue with its Green Building Ordinance to ensure it retains its investment location potential.

Mandaue Mayor Jonas Cortes stressed how the partnership with the technology leader in the HVAC industry signifies a commitment to meet global standards and build a better urban landscape.

2) Daikin’s Technology and Innovation Center (TIC) in Osaka is the first large-scale office building in Japan to win LEED Platinum certification based on energy efficiencies achieved, the comfort of the indoor environment, and the planning involved for energy measurement and data collection.

“At the heart of our collaboration lies an unwavering commitment to tackle the hurdles posed by the swift urban growth in our beloved city of Mandaue. We are diving into challenges like traffic management, waste control, environmental protection, and flood resiliency head-on. Daikin Philippines Inc., with its cutting-edge air conditioning solutions and strong devotion to energy efficiency, becomes an invaluable partner in our quest for a city that’s not just livable but sustainable,” said Cortes, speaking remotely from Mandaue City.

Daikin Airconditioning Philippines President Takayoshi Miki likewise praised the local government for taking steps to lower their carbon footprint during the event.

“Last year we had a meeting in your office where we learned of your pride and passion in attaining sustainability and efficiency in your city. We are lucky to find such good partners who are purposely driving to achieve progress for the City of Mandaue,” said Miki.

Present at the signing ceremony were Philippines Green Building Council (PHILGBC) Chief Executive Officer Christopher Dela Cruz, Mandaue City Councilor Jennifer del Mar, and Daikin Industries General Manager of Global Operations Division Junichi Ohmori.

The MOU signing was also witnessed by representatives from PHILGBC, Daikin Philippines, officials of Mandaue City, and select media representatives, who were given a background on the Japanese multinational conglomerate’s history and updates on the latest technological advancements in the field of air conditioning.

3) The display at the Daikin Discovery Hall details the rich history of the world’s leading air conditioning manufacturer.

Inside the Technology and Innovation Center (TIC)

Delegates were given a first-hand tour of the award-winning Technology and Innovation Center (TIC) in Daikin’s Yodogawa Manufacturing Plant Complex, in Settsu City in Osaka.

The core facility provides a venue for showcasing advancements in environmental technologies since Daikin was first established in 1924 that can be used as models for energy efficiency around the world.

The research and development center is the first large-scale office building in Japan to achieve the highest rank of Platinum Certification in the LEED (Leadership in Energy and Environmental Design) for New Construction (LEED-NC) rating system.

Developed and managed by the U.S. Green Building Council (USGBC), LEED is a green building certification system that has expanded globally as an evaluation system for environmentally responsible buildings and area development.

The six-floor building covering 49,000 m2 of floor space was designed using Japan’s Zero Energy Building (ZEB) concept, utilizing tech and design features to reduce energy consumption while maintaining indoor temperature comfort.

In a tour of the facility, officials showed how Daikin’s exterior walls incorporate eaves that serve both an aesthetic and useful function by shielding 50% of direct sunlight, resulting in fewer shadows while still bringing in the natural light. The building also makes use of a centralized controller to control electric blinds and high-performance Low E double glass for thermal insulation to limit the building’s air conditioning load.

The large open-type office area makes use of a combination of VRV (or Variable Refrigerant Volume systems based on Inverter technology compressors developed by Daikin) and DESICA (which uses a heat pump to absorb and release moisture into the air) to process sensible and latent heat separately. The advanced models ensure ultra-high air-conditioning efficiency. The building also makes use of mechanical ventilation and outdoor air to help cool the air conditioning units.

The airy entrance hall has a unique air conditioning system that harnesses natural energy and infuses seasonal scents which are distributed through the ventilation system to provide a comfortable working area while saving energy.

Meanwhile, Daikin’s rooftop facility harnesses renewable energy through the use of fixed solar panels all around the building along with solar trackers which are programmed to move and face the sun throughout the day.

4) An exhibit shows the evolution of air conditioning technologies developed by Daikin Industries Ltd.

Fostering collaborative innovation

Another highlight of the TIC tour was seeing the evolution of air conditioning systems from the past nine decades in the Daikin Discovery Hall and the laboratories and offices where engineers continue to develop new technologies for the future.

Considering the prevalent practice in Philippine offices featuring enclosed cubicles and conference rooms, it was notable how the shared office spaces in Daikin were designed to break down barriers among engineers and encourage joint efforts.

Experts in different fields work in an open office design with just a few glass walls to accelerate synergy and teamwork within the company. Everyone can see colleagues within a 30-meter radius and multiple meeting points in between desks provide venues for discussions.

At the center of the office space is the “Waigaya Stage” which enables meetings to be easily held across divisions. Nine hundred individuals can gather in a single space to promote a culture of collaboration.

Daikin also promotes collaboration among colleagues by installing vending machines that require simultaneous operation by two individuals to encourage them to discuss ideas together.

Shadow art piece at the Daikin Discovery Hall. Components of an air conditioner, Daikin’s area of expertise, reflect a person running with one driving purpose.

Simple solutions for energy efficiency

In a media briefing, Daikin officials noted that global energy consumption due to air conditioning has risen sharply due to COVID-19.

In the Philippines, basic needs, like electricity are rapidly becoming more expensive for consumers and commercial operators, while climate change is causing temperature levels to rise.

Daikin officials also cited the “excessive cooling culture” in the ASEAN region as a major challenge. AC temperatures are normally set low in offices, at roughly 23 degrees, with workers wearing jackets and feeling chilly.

Replacing normal ventilation with Daikin’s energy recovery ventilation can reduce the load of heat and humidity from outside air, making indoor temperature comfortable even at 26 degrees, leading to energy savings and comfort.

Responding to BusinessWorld, Deputy Division Manager of Daikin Philippines Wesley Andre Chu explained that Daikin developed a “cooling-only VRV model” specific for tropical countries like the Philippines that doesn’t require heating.

While the VRV model that makes use of an inverter technology, which does not only control the cooling but also the humidity, is not yet popular in the Philippines, Daikin hopes to make it more widely known.

Chu stressed how the partnership aims to increase awareness regarding the latest trends and technologies in air conditioning, ventilation, energy efficiency, indoor air quality, and environment protection that are already available and can be used to reduce energy consumption in offices, residential, and commercial areas in the future given the economic expansion and potential growth of the area.

Citing a recent study, a representative from Mandaue noted that the heat index in the city has increased by 2% and they are considering Daikin’s new technology for a planned new government center in Mandaue, which they hope to turn into a green building.

Just like the art piece outside the Daikin Discovery Hall made from parts of an air conditioner, that reflects a shadow of a running man, Daikin’s efforts reflect the company’s collaborative goal for energy efficiency. The partnership forged by Daikin and the City of Mandaue is another leap forward in the journey toward sustainable urban growth.

Learn more about Daikin at www.daikin.com.ph. — Kara Santos

 

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Gov’t makes full award of bonds as inflation eases further in Nov.

RJ JOQUICO-UNSPLASH

THE GOVERNMENT made a full award of the reissued Treasury bonds (T-bonds) it auctioned off on Tuesday at a lower average rate after headline inflation eased in November.

The Bureau of the Treasury (BTr) raised P20 billion as planned via the reissued 10-year bonds it offered on Tuesday as total bids reached P40.651 billion, or more than twice the amount on the auction block.

The bonds, which have a remaining life of nine years and eight months, were awarded at an average rate of 6.224%, with accepted yields ranging from 6.15% to 6.244%.

The average rate of the reissued bonds dropped by 55.7 basis points (bps) from 6.781% quoted for the papers when they were last offered on Nov. 14. This was also 40.1 bps below the 6.625% coupon for the series.

However, the average yield was 1.1 bps higher than the 6.213% quoted for the 10-year bond and 6.3 bps above the 6.161% seen for the same bond series at the secondary market before Tuesday’s auction, based on PHP Bloomberg Valuation Service Reference Rates data provided by the Treasury.

The average rate of the reissued bonds declined from the previous award following slower inflation last month, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

“The release of softer-than-expected Philippine headline inflation for November 2023 has likewise lowered expectations for bond yields,” a trader said in an e-mail.

Headline inflation slowed to a 4.1% in November from 4.9% in October and 8% in November 2022, data released by the Philippine Statistics Authority on Tuesday showed. This was the lowest rate seen since March 2022’s 4%.

This was near the lower end of the Bangko Sentral ng Pilipinas’ (BSP) 4-4.8% estimate for the month and was below the 4.4% median estimate of 15 economists in a BusinessWorld poll conducted last week.

For the first 11 months, inflation averaged 6.2%, faster than 5.6% in the same period last year and still well above the BSP’s 2-4% target and 6% baseline forecast for 2023.

T-bond rates declined amid expectations of rate cuts by the US Federal Reserve next year, Mr. Ricafort added.

Markets are pricing in a rate cut from the Fed by the first half of 2024.

The US central bank kept its target rate steady at the 5.25%-5.5% range for a second straight time during its Oct. 31-Nov. 1 meeting.

It has hiked rates by a cumulative 525 bps since it began its tightening cycle in March 2022.

The Fed will hold its last policy review for this year on Dec. 12-13.

The BTr wants to raise P60 billion from the domestic market this month, or P20 billion via T-bills and P40 billion via T-bonds.

The government borrows from local and foreign sources to help fund its budget deficit, which is capped at 6.1% of gross domestic product this year. — A.M.C. Sy

Art Jakarta: Anonymous artist makes fun of art, the art scene, and fellow artists

WE’RE FREQUENTLY told not to bite the hand that feeds us, but they didn’t say anything about laughing at it.

In last month’s Art Jakarta, the Indonesian capital’s art fair, there was a section devoted to small galleries. Artist management initiative Alias Aliases presented an exhibition on a mysterious figure with a name that sounds silly and angry at the same time: Beyond Crap.

Beyond Crap’s work consists of comics inspired by works from the 1930s and ’40s; simple enough. However, the cartoonish expressions on the subject’s faces are all vehicles to make fun of the art world. One such work is dear god, a UV print on Hahnemule paper, that shows a despondent artist kneeling in prayer, saying “Dear God, can you restart my career?” A second panel shows the same artist finishing their prayer: “I think I’ve chosen the wrong gallery.”

Another one, Right Away, pokes fun at the shallow tastes of art collectors: a woman says, “You can send your bathroom photo, and we’ll render it with the painting right away!” Other works of conceptual art aren’t safe either: a man has been punched by a mechanical fist, and with a look of bewilderment, the man says, “Who the hell curates this?”

Sabiq Hibatulbaqi, project manager for Alias Aliases for the exhibition, gave some clues as to the identity of Beyond Crap: they’re a little bit older than 30, and while they poke fun at the art scene, they gladly participate in it — their work was also displayed at Art Jakarta that day. Mr. Hibatulbaqi says that most of the work of the anonymous artist behind Beyond Crap consists of installations. “I told him that it would be fun if we talked about the art market in the art fair,” said the project manager.

There’s a universality in the local artist’s work: no matter where you are in the globe apparently, an artist will have to wade through negotiations, the hypocrisy of dinners and openings, and all the sort of “crap” one wades through in the art world, when many times, all an artist wants to do is to create art. Another panel by Beyond Crap summarizes it: a figure hulks over an artist covered in mess, with the figure saying: “Stop overthinking and do what the market wants!”

Artists themselves, in their pursuit of fame and glory in their chosen field, aren’t safe from their anonymous colleague’s eye: an artist in a state of undress holds up a pair of jeans and says, “Ahh…the collector magnet! Perfect for tonight’s opening!”

Mr. Hibatulbaqi said about the artist’s choice to remain anonymous: “He can see the threshold of what is fun and what is not in terms of the art scene.” — Joseph L. Garcia

Colliers expects REIT market’s expansion and diversification

INVESTMENT MANAGEMENT firm Colliers is expecting the diversification and expansion of the Philippine real estate investment trust (REIT) market, which would be beneficial to the country’s property market.

“Moving forward, Colliers sees an aggressive expansion of REIT companies in the Philippines. We even see some firms exploring the feasibility of divesting other asset classes, including business parks and data centers, as well as co-working and co-living facilities,” Colliers Director and Research Head Joey Roi Bondoc said in a statement on Tuesday.

“We even recommend that firms explore the viability of infrastructure and renewable energy projects,” he added.

With this, Colliers is urging property firms to further test the market as it would bring opportunities from the developing local REIT sector.

“The Philippine REIT market is primed for further diversification and developers should be on the lookout for other assets that can be divested into their REIT companies,” Colliers said.

The firm added that REITs and stakeholders should be mindful of the regulatory environment, adding that they should be updated on the proposed amendments to Republic Act No. 9856 or the REIT Law as well as how new measures and provisions would stall or advance the sector.

In March, the House of Representatives approved on third and final reading House Bill No. 7525, which seeks to amend the REIT Law. A counterpart bill in the Senate has yet to be filed.

Some of the proposed amendments under the bill include requiring REITs to reinvest within one year from receipt of proceeds realized by the sponsor or promoter, as well as requiring REITs to submit a reinvestment plan to the Securities and Exchange Commission and Philippine Stock Exchange, and securing an annual certification to prove that they are compliant with their reinvestment plan.

Meanwhile, Colliers said that property developers should assess the ideal portfolio mix that would provide the optimal yield for investors. 

“Property firms should consider divesting asset classes that will provide highest dividend to investors based on these asset classes’ performance in the market,” Colliers said. 

“Office and industrial are usually part of developers’ portfolio mixes but property firms should also look at other viable assets in the future including retail and hotel,” it added. — Revin Mikhael D. Ochave

Peddlr represents the Philippines at the KPMG Global Tech Innovator 2023 Final in Lisbon

At the global stage. Peddlr CEO and Founder Nel Laygo pitched his tech startup at the Global Tech Innovator (GTI) final in Lisbon, Portugal last Nov. 15, 2023.

Peddlr, a digital accounting and bookkeeping point of sale (POS) application established in Catbalogan, Samar, took the global stage as the Philippines’ representative to the KPMG Private Enterprise Global Tech Innovator (GTI) 2023 Final on Nov. 15.

Having emerged as the gold winner of the local leg during KPMG in the Philippines’ Innovation Summit last July 20, Peddlr has been mentored by experts within the firm and KPMG’s network of industry leaders in the country.

Peddlr competed among 22 tech companies during the global final as part of the Web Summit, which includes country winners from Australia, Brazil, China, Columbia, Denmark and Finland.

Peddlr CEO and Founder Nel Laygo pitched his tech startup to the panel of judges, expounding on the platform’s mission to revolutionize traditional business processes. “Our aim is to replace outdated pen-and-paper business methods, particularly on sales recording, credit management, and manual inventory stock management,” Laygo explained. More than providing solutions, Peddlr is also dedicated to optimizing MSMEs in their decision making in terms of product scaling and pricing, shelf positioning and improving credit score.

While Peddlr didn’t secure the top spot in the competition, Laygo expressed gratitude for the opportunity to showcase Peddlr and demonstrate its impact on helping MSMEs leverage technology for business growth. “It is an honor to represent the Philippines and showcase Peddlr’s positive impact on Philippine MSMEs. Our sincerest gratitude to KPMG in the Philippines for the mentorship and helping us bring our tech business to the global stage,” Laygo shared.

“We at KPMG have long been committed to helping drive digitalization in the country and providing a platform to these tech startups is just among the many ways to support them,” KPMG in the Philippines Head of Technology Consulting Jallain Marcel Manrique highlighted. Manrique also mentioned that this is the first time the Philippines has joined the global competition and affirmed that KPMG will continue championing tech titans in the country. “We are immensely proud of Peddlr and how far they have come. We are looking forward to supporting more outstanding and innovative Filipino startups and witnessing their journey to become tech giants in the years to come.”

Watch out for the next leg of Tech Innovator in the Philippines at KPMG in the Philippines’ Innovation Summit this 2024.

 

© 2023 R.G. Manabat & Co., a Philippine partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.

 

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Arts & Culture (12/06/23)

Journey to Bethlehem musical film in SM

JOURNEY to Bethlehem, a live-action Christmas musical that stars Fiona Palomo, Milo Manheim, and Antonio Banderas, weaves classic Christmas melodies with humor, faith, and new pop songs in a retelling of the nativity story. It will be shown exclusively in SM Cinemas starting Dec. 6, just in time for the Feast of the Immaculate Conception.  Journey to Bethlehem is distributed in the Philippines by Columbia Pictures, local office of Sony Pictures Releasing International.

Mythological creatures in ballet about teenage bullying

ADA, Lundag sa Hiwaga, a dance performance that features Philippine mythical creatures, will be staged on Dec. 11 and 12, 1 and 7 p.m., at the 5F Theater of the De La Salle-College of Saint Benilde (DLS-CSB) Design + Arts Campus, 950 Pablo Ocampo Street, Malate, Manila. A tale of self-discovery and the effects of teenage bullying, the story centers on the life of high school student Ada, who suddenly faced day-to-day intimidation from her once close friend Maggie after an incident during a wholesome game. With her lost confidence and morale, she found hope after she discovered and entered the magical world called Hiwaga, inhabited by mythological beings such as bakunawa (a serpent-like dragon), diwata (fairies), duwende (dwarfs), and kapre (tree demon). They all assisted her to open up with her true identity. The 90-minute production will showcase the student-artists of the Dance Program. Tickets are available at P600. For more information, visit https://www.facebook.com/benildearts.

LEAF Awards deadline for nominations extended

THE PHILIPPINE LEAF Awards is extending its deadline for the submission of nominations to Dec. 10. It is aiming for broader participation of outstanding individuals and entities in the live entertainment, performing arts, fashion, and festivals categories. Meanwhile, it announced the recipients of this year’s Beacon for Culture and Arts Award include National Artist for Music Ryan Cayabyab, former National Commission for Culture and the Arts Chairman and Cultural Center of the Philippines President Arsenio “Nick” Lizaso, Congressman Christopher “Toff” De Venecia, Halili-Cruz School of Dance Artistic and Creative Director Dr. Shirley Halili-Cruz, and Tarlac Governor Susan Yap. These individuals were recognized for “their exemplary leadership and innovation through their governance, advocacy, and programs, leaving a lasting impact on the culture and arts sector.” The awarding ceremony is scheduled for Feb. 8, 2024 at 1 p.m., at the Metropolitan Theater in Plaza Bonifacio, Manila.

Yuchengco Museum hosts guitar quartet concert

THE CHRISTMAS concert Paskong Cuerdas will take place on Dec. 16, 4 p.m., in the YSpace at the Yuchengco Museum, RCBC Plaza, Makati. For the benefit of Family Wellness Center Foundation, Inc., it is presented by the Yuchengco Museum and the Guitar Friends. The PIMA Guitar Quartet and soprano Stefanie Quintin will perform festive tunes in time for the Christmas season. Tickets cost P750 while students, seniors, PWDs, Yuchengco employees, and embassy employees in RCBC Plaza can enter for P550.

The Nutcracker at Newport Performing Arts Theater

THE CHRISTMAS ballet The Nutcracker will be performed at the Newport Performing Arts Theater on Dec. 16 at 3 and 8 p.m., and on Dec. 17 at 3 and 7:30 p.m. The Cultural Center of the Philippines, in partnership with Zonta Club Metro Greenhills, Soroptomist SI Founder Manila, and Rotary Club of Makati Premier District, presents the Philippine Ballet Theatre of the holiday classic which follows Clara in her journey of toys coming to life, dancing and frolicking in the Land of Sweets. Tickets are now available via TicketWorld.

The Sandbox Collective unveils 2024 lineup

FOR its 10th anniversary next year, the theater company The Sandbox Collective will be staging three plays in 2024, all stories with themes of discovery, growing pains, and coming of age. The season will begin in February with The 25th Annual Putnam County Spelling Bee, an award-winning Broadway musical about an eclectic group of six spelling championship competitors. It will be directed by Missy Maramara, with Rony Fortich as musical director, and will run from February to March at the PowerMac Center Spotlight Theater, Circuit Makati. Next will be the sci-fi musical comedy Little Shop of Horrors, one of the longest-running Off-Broadway shows, to be directed by Toff De Venecia, with musical direction by Ejay Yatco. It will run from July to August at the Globe Auditorium, Maybank Performing Arts Theater, BGC, Taguig. Finally, the season will end with the Manila premiere of Tiny Beautiful Things, based on the bestselling book by Cheryl Strayed and adapted for the stage by Nia Vardalos, to be directed by Jenny Jamora. It will run for three weeks in November at the Zobel De Ayala Recital Hall at the Maybank Performing Arts Theater.

An intellectual giant on Philippine agribusiness: Forecasts and recommendations

PRANONGCREATIVE FROM PIXABAY

(Part 4)

As we usher in a new era in Philippine agriculture with the appointment of Francis Tiu Laurel as the next Secretary of Agriculture, to take the place of President Ferdinand Marcos, Jr. himself who kept this portfolio for the first 14 months of his Presidency, we face the stark reality that the Philippines is still far behind our ASEAN peers, i.e., Indonesia, Vietnam, Thailand, and Malaysia, in rural and agricultural development. It is clear that what the late Dr. Rolando “Rolly” Dy recommended 10 years ago fell mostly on deaf ears. Not much was done to learn from the experiences of our neighbors for one reason or another, mostly for lack of political will and a continuing absence of focus on the most important goal of food security.

For the sake of the new leadership, it would be useful to repeat what Rolly recommended about how the Philippines can learn from our more successful neighbors in the area of rural and agricultural development.

Ten years ago, in his Magisterial Lecture at the UA&P, Rolly quoted from a 2012 McKinsey Report on Indonesia that prescribed six pillars for high, sustained and inclusive growth. These were: a.) increasing small holder yield; b.) diversifying into other crops; c.) reducing food wastes and losses; d.) cultivating grasslands; e.) exploiting aquaculture potentials; and, f.) increasing commercial farm yields. Some 80% of the gains will be contributed by the first three. Given the background of the new Secretary of Agriculture, who has headed one of the largest fishing ventures in the southeast region, there should be hope that under this present Administration, we will see a quantum leap in the production and productivity of the fisheries sector.

As mentioned in a former article in this series, despite the constant reference to the primordial importance of land consolidation in such crops as coconut, cacao, coffee, palm oil and a few other products susceptible to large-scale production like bananas and pineapples, a large portion of our arable lands will always be devoted to small holder cultivation, especially in rice, corn, and vegetables and other high-value crops. This should be the focus of the Government’s efforts to improve agricultural productivity, especially in providing the small farmers with farm-to-market roads, irrigation systems, subsidized farm inputs such as fertilizers and insecticides, and access to credit. As regards rice, it would be wise for the Government to listen to the expert advice of people in the private business sector on how to address the ongoing rice crisis. Special attention should be given to the advice contained in a column of former Secretary of Finance Gary Teves, who is now very much involved in the private sector as a member of the board of one of the largest food and beverage conglomerates in the country, San Miguel Corp.

In a column in a leading daily, Gary Teves outlined the following short- and long-term solutions to the ongoing crisis in which rice prices have skyrocketed:

1.) Encourage greater private sector participation in the rice supply chain, particularly conglomerates who can help enhance the efficiency of the rice distribution system essential to combat disruptions that drive up rice prices.

2.) Closer collaboration between government agencies. He gives the following examples: the Department of Agriculture (DA) and the National Food Authority should work together to develop a rice procurement and distribution plan, specifically addressed to the current crisis. This plan should ensure that farmers get a fair price for their produce and that consumers can buy affordable rice. The DA and the Department of Trade and Industry can also develop a rice market development plan that connects farmers with buyers. In this regard, May-ani, a digital and social enterprise has been helping small farmers get better prices for their products by providing them, through their smart phones, with information on the retail prices of their products on a daily basis. There should be more social enterprises that will help digitalize small-scale agriculture.

3.) Develop more agriculturists who can upskill small farmers in the use of technology to improve their productivity. Here, the concept of “master gardeners” developed in the United States should be adopted by TESDA (Technical Education and Skills Development Authority)-type of schools in the Philippines.

4.) At the local government level, promote a co-financing mechanism that incentivizes local government units (LGUs) to provide more funding to rice programs. Proceeds from the so-called Mandanas-Garcia ruling should be utilized in these financing initiatives.

5.) Continue implementing the rice tariffication law (RTL) which helps to offset domestic shortages and to stabilize prices.

Among the more long-term measures proposed by Gary are the amending of the Comprehensive Agrarian Reform Law which can promote efficient land use, increased productivity through modernized farming practices, crop diversification, economies of scale through consolidated farms, improved rural infrastructures, better access to credit, market regulation and comprehensive support for smallholder farmers.

Continuing with what Rolly wrote about learning from our neighbors, he cited a report from the Japan International Cooperation Agency, or JICA, which indicated that Indonesia would enjoy a substantial expansion of tree crops, particularly rubber, coffee, cocoa, and palm oil, driven mainly by foreign and private investment using modern technology and management. In fact, this happened mainly in the oil palm sector when Malaysia, the former global leader in the production of palm oil, ran out of workers, leading to a substantial increase of Malaysian investment in the oil palm industry of Indonesia. This most populous country in the ASEAN, with the largest land area, soon became the biggest producer in the world of palm oil.

In recent times, however, the largest buyers of palm oil — such as Unilever, Procter and Gamble, and Nestlé — have stopped importing palm oil from Indonesia when they realized that virgin forests were being cut down to make way for oil palm plantations. This has led some of the investors in oil palm plantations to take a closer look at the Philippines since, in the words of one of them, our country has already denuded most of our forests. In fact, there are now some Philippine conglomerates investing in planting oil palm on denuded public lands under the jurisdiction of Department of Environment and Natural Resources (DENR), especially in the islands of Mindanao and Negros. Among them is the leading conglomerate DMCI Holdings.

In the same JICA Report, it was mentioned that the Philippines would retain global leadership in the coconut sector, but with increasing reliance on “new” coconut products both for the domestic and export markets. This forecast made 10 years ago was only partially accurate. Indeed, the coconut sector is increasingly diversifying into higher-value food exports like coconut water, coconut milk, coconut sugar, and virgin coconut oil or VCO. Unfortunately, though, the Philippines has been surpassed in the volume of coconut production by both India and Indonesia.

Another forecast made 10 years ago by JICA that did not materialize was that the Philippines would retain a slightly smaller but highly competitive sugar industry. At present, the Philippine sugar industry is facing a crisis of high costs of production, a shortage of farm workers, and a lack of long-term capital. Some of the large sugar mills on the island of Luzon have closed and are in the process of relocation to less urbanized areas where the prices of real estate are much lower than they are in such provinces as Batangas, Pampanga, and Tarlac. As in the coconut industry, the only hope for a “highly competitive sugar industry” that JICA envisioned 10 years ago is the reconsolidation of small sugar farms, especially in the island of Negros, that were fragmented under an ill-advised agrarian reform program when applied to the sugar industry.

Even Taiwan, that was in East Asia considered the gold standard in land reform, was fortunate to have leaders during the time of Chang Kai Sek who had enough common sense to exempt the sugar industry from land fragmentation.

(To be continued.)

 

Bernardo M. Villegas has a Ph.D. in Economics from Harvard, is professor emeritus at the University of Asia and the Pacific, and a visiting professor at the IESE Business School in Barcelona, Spain. He was a member of the 1986 Constitutional Commission.

bernardo.villegas@uap.asia

BNPL sales seen surging by 173%

PIXABAY

BUY NOW, PAY LATER (BNPL) sales in the Philippines are expected to increase by 173% in 2024, driven mainly by mobile transactions, a study by financial solutions provider UnaCash showed.

“Buy Now, Pay Later is consistently on the rise… This can be regarded as a modern digital-era payment solution, not just in the Philippines, which offers convenience to both consumers and its partner merchants by minimizing the initial cost of purchases. Innovative upgrades like point-of-sale loans will allow this payment method to experience remarkable growth in the years to come,” UnaCash President Aleksei Kosenko said in a statement on Tuesday.

BNPL has become a tool that Filipinos use frequently to shop, with 15% of all online transactions in the country done using these options, UnaCash noted.

The expected growth in the gross merchandise value of items bought using BNPL options next year would be faster than the estimated 154% rise in BNPL use for this year, but slightly slower than the 178% increase in 2021.

The faster rise seen next year could come on the back of an expected 84% growth in the e-commerce market in 2024, which UnaCash said would be driven by increasing mobile commerce usage.

Mobile commerce (m-commerce) refers to transactions done using devices like smartphones or tablets.

The share of m-commerce in the e-commerce industry grew to a “historical high” of 74% in 2022 from just 16% in 2018, it said.

By next year, the share of m-commerce in the industry is expected to reach 80%, UnaCash said.

The use of m-commerce doubled from 2018 to 2022, growing by an average of 6% per year, it said.

“By the end of 2022, more than half of the Philippine population was involved in mobile commerce, with penetration reaching 55%… The largest increase in the indicator was observed in 2020, at 12% — primarily due to the impact of the pandemic,” UnaCash added.

Meanwhile, m-commerce sales value posted an average annual growth of 47.4% from 2018 to 2022.

“The most significant surge occurred in 2019, with a remarkable increase of 63.4% in sales through m-commerce, signifying a 4.7-fold increase or an equivalent of P243.3 billion. By 2022, it was worth P308.7 billion,” it said.

“The e-commerce audience in the Philippines, predominantly mobile, are persons aged 25-34 years old, making up more than 30% of users, followed by those aged 18-24 years,” it said. — AMCS

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