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Central bank chief looks to bring down big banks’ RRR to zero within term

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THE PHILIPPINE central bank chief said big lenders’ reserve requirement ratio (RRR) could be brought down to as low as zero before his term ends in 2029.

Asked if the RRR could be reduced to zero during his six-year term, Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. said this is “possible.”

“We’ve been discussing bringing it down to 5%, but we still don’t know when. But we will get there. The 7% is still high,” he said in mixed English and Filipino on the sidelines of an event on Monday.

The BSP last month announced that it would reduce the RRR for universal and commercial banks and nonbank financial institutions with quasi-banking functions by 250 basis points (bps) to 7% from 9.5% effective on Oct. 25.

It will also cut the RRR for digital banks by 200 bps to 4%, while the ratio for thrift lenders will be reduced by 100 bps to 1%. Rural and cooperative banks’ RRR will likewise go down by 100 bps to 0%.

The RRR is the portion of reserves that banks must hold onto rather than lending out. When a bank is required to hold a lower reserve ratio, it has more funds to lend to borrowers.

Mr. Remolona is serving a six-year term, which began last year and will end in 2029.

He earlier said the BSP is eyeing to bring down big banks’ RRR to as low as 5% from a high of 20% in 2018 as the country’s reserve requirements are among the highest in the region.

LARGE RATE CUT
Meanwhile, Mr. Remolona said the central bank has room to cut benchmark interest rates by 50 bps in one meeting but reiterated that this would only be done in a “hard-landing” scenario.

“I think there is (space). But usually, you’re worried about a hard landing when you consider 50 bps,” he said.

“If there’s no risk of a hard landing, 25-25 (for now), 25 bps is normal; 50 bps, you’re worried that there might be a hard landing.”

The central bank in August reduced borrowing costs for the first time in nearly four years, cutting its policy rate by 25 bps to 6.25% from the over 17-year high of 6.5%.

The Monetary Board’s policy meeting this month has been rescheduled to Oct. 16 from Oct. 17, Mr. Remolona said, while its last review for the year will be held on Dec. 19.

The BSP chief last month said they could deliver a 25-bp rate cut each at their October and December meetings. This would bring the policy rate to 5.75% by end-2024. — Luisa Maria Jacinta C. Jocson

The power to make a difference

The EY Entrepreneur Of The Year 2024 Philippines has concluded its search for the country’s most visionary leaders shaping opportunities and transforming industries. It is a program of the SGV Foundation, Inc., with co-presenters: the Asian Institute of Management, the Department of Trade and Industry, the Philippine Business for Social Progress, and the Philippine Stock Exchange.

Ruth Yu-Owen
President and CEO
Upgrade Energy Philippines

RUTH YU-OWEN stands as a testament to the power of resilience and visionary leadership in the renewable energy sector. Her journey from a young entrepreneur with a modest upbringing in Zamboanga City to the current president and chief executive officer (CEO) of Upgrade Energy Philippines (UGEP) is nothing short of inspirational.

With a rich Tausug and Chinese heritage, Ms. Owen’s entrepreneurial spirit was evident from an early age, when she sold candies to her classmates. Not one to be deterred after failing to pass the Certified Public Accountant Licensure Exam, she harnessed her people-centric personality to lead her to a fulfilling career in sales, which paved the way to senior positions in an international freight forwarding company. However, it was the loss of her job at the peak of her career that became the catalyst for her venture into the renewable energy industry, founding PhilCarbon in 2006.

In 2016, Ms. Owen partnered with Belgian company Upgrade Energy to establish UGEP, focusing on rooftop solar projects for the commercial and industrial segment. The company’s comprehensive services span engineering, procurement, construction, operations, maintenance, and project financing for renewable energy projects. Under her leadership, UGEP has achieved remarkable milestones, including the completion of the Philippines’ largest solar rooftop project for one of the country’s largest conglomerates in Batangas, with a capacity of 13,800 kilowatt-peak.

Despite encountering a myriad of challenges, including opposition to a wind farm project in Sagada and some missed opportunities to benefit from government incentives, Ms. Owen displayed unwavering determination. She invested her personal savings to keep her business afloat and consistently placed her team’s welfare at the forefront. This steadfast commitment not only helped her navigate through tough times, but also laid the foundation for future successes. As a result, Ms. Owen’s resilience and strategic foresight led to a series of successful ventures that garnered the attention and confidence of investors, significantly enhancing UGEP’s footprint in the renewable energy market.

Her influence extends to championing environmental, social, and governance (ESG) principles, establishing new benchmarks for sustainability in the energy sector. UGEP’s employment practices reflect a 50-50 gender balance and a commitment to employee well-being, mirroring Ms. Owen’s belief in diversity, inclusiveness and social responsibility.

Integrity is a core value that permeates UGEP’s culture, with transparent practices and robust corporate governance. Ms. Owen’s commitment to continuous learning and ethical standards is evident in her active participation in governance programs and various committees and boards such as being co-chair of the European Chamber of Commerce of the Philippines Renewable (ECCP) Energy Committee and chair of the Management Association of the Philippines (MAP) Energy Committee.

Moreover, her advocacy for women empowerment is showcased through her co-founding of Connected Women, a social initiative that leverages technology to foster economic independence for women by training them in artificial intelligence data annotation, providing the human factor in the loop for machine learning, ultimately creating 21st Century employment opportunities.

Looking ahead, UGEP’s ambitious growth target of 500 megawatts (MW) of renewable energy utility scale and 200-MW of rooftop solar by 2028 sets a bold vision under Ms. Owen’s leadership.

Ms. Owen has earned recognition as one of the “Most Influential Filipino Women on LinkedIn” and continues to serve as an example of leadership in renewable energy. Her community engagement, such as leading the Ateneo de Zamboanga RISE campaign, which raises funds for the institution and ensures that students are fed daily through the Pan Cada Dia food subsidy feeding program that has been going on for 20 years, amplifies her contribution to social development, encapsulating her multifaceted approach to leadership that blends business excellence with societal progress.

Media sponsors are BusinessWorld and the ABS-CBN News Channel. Gold sponsors are SteelAsia Manufacturing Corp., Uratex, and Converge ICT Solutions, Inc. Silver sponsor is International Container Terminal Services, Inc. Bronze sponsor is Lausgroup Holdings, Inc. Banquet sponsors are Robert Blancaflor & Groups, Inc., Bounty Fresh Group Holdings, Inc., and Vista Land & Lifescapes, Inc.

The winners will be announced on Oct. 23, 2024. The EY Entrepreneur Of The Year 2024 Philippines will represent the country in the World Entrepreneur Of The Year 2025 in Monte Carlo, Monaco in June 2025. The EY Entrepreneur Of The Year program is produced globally by Ernst & Young (EY).

Construction firms set for H2 rebound — analysts

JOSUE ISAI RAMOS FIGUEROA-UNSPLASH

By Ashley Erika O. Jose, Reporter

LISTED construction companies are expected to rebound in the second half, driven by sector recovery and favorable economic conditions, according to analysts.

“The outlook for the profitability of listed Philippine construction companies in the second half of 2024 depends on several key factors, including economic growth, infrastructure spending, and interest rates,” Toby Allan C. Arce, head of sales trading at Globalinks Securities and Stocks, Inc., said in a Viber message.

China Bank Securities Corp. Research Associate Neil Andrew L. Maderaje said listed construction firms have a positive outlook for the remainder of the year, driven by the robust construction activities in the country fueled by the government’s infrastructure initiatives and private developments.

In August, the Department of Budget and Management (DBM) said the national government’s spending on infrastructure expanded by 17% in June following increased disbursements for completed public works projects.

“We think that construction activity could accelerate, especially as businesses’ appetite for expansion-related capex (capital expenditure) improves. We believe these macroeconomic developments will strengthen earnings growth prospects for construction firms in the coming quarters,” Mr. Maderaje said in an e-mail.

For the second quarter, listed construction companies posted mixed results.

Megawide Construction Corp. recorded a 30% drop in its attributable net income for the second quarter to P258.66 million, compared with P370.28 million last year. Its second-quarter revenue fell by 8.4% to P6.19 billion, compared with P6.76 billion a year ago, its financial statement showed.

Phinma Corp. widened its net loss for the second quarter to P251.71 million from the P18.61 million loss in the same period last year due to higher expenses for the period.

For the April-to-June period, Phinma recorded a gross revenue of P4.92 billion, marking a 20% increase from the P4.1 billion previously. Its gross expense went up by 24.4% to P5 billion from P4.02 billion in the comparable period a year ago.

Meanwhile, EEI Corp. returned to profitability for the second quarter after recording an attributable net income of P59.77 million, a reversal from a loss of P255.03 million in the same period last year.

EEI’s gross revenue for the second quarter climbed to P4.14 billion, up by 6.7% from P3.88 billion last year, while its expenses went down to P3.9 billion, lower by 5.1% from P4.11 billion last year.

For China Bank Securities’ Mr. Maderaje, construction firms are projected to rebound as the Bangko Sentral ng Pilipinas (BSP) signaled more rate cuts.

“Given recent policy rate cuts and the outlook for more cuts heading into 2025, we think that construction activity could accelerate,” he said.

BSP Governor Eli M. Remolona, Jr. has said that the Monetary Board could implement two more rate cuts at its next two meetings scheduled for Oct. 16 and Dec. 19.

The central bank began its easing cycle in August by cutting the target reverse repurchase rate by 25 bps to 6.25% from the over 17-year high of 6.5%. This was the first time the BSP reduced rates in nearly four years.

“As the economy grows and inflation cools, the government may ramp up infrastructure spending. Listed construction companies, especially those involved in public infrastructure projects, could see significant earnings growth from increased government investments,” Mr. Arce said.

According to a BusinessWorld poll of 15 analysts conducted last week, the median estimate for the September consumer price index (CPI) is 2.5%.

If realized, September inflation would be significantly slower than 3.3% in August and 6.1% in the same month a year ago.

“With inflation moderating, the cost of raw materials like steel, cement, and fuel may stabilize, preventing the sharp increases seen in previous years. This would allow construction firms to maintain or even improve their profit margins by better managing project costs,” Mr. Arce said.

D&L’s Chemrez plans capacity boost for coco-biodiesel

CHEMREZ Technologies, Inc., a subsidiary of D&L Industries, is considering increasing its coco-biodiesel plant capacity by repurposing existing production lines as the higher blend implementation starts today, Oct. 1.

The move is being considered as the company’s coco-biodiesel plant in Quezon City is already operating at optimal capacity, Chemrez President Dean A. Lao, Jr. said during a media briefing at D&L’s plant in Tanauan, Batangas on Monday.

Chemrez could repurpose some lines for oleochemical products at the Quezon City plant to produce coco-biodiesel, Mr. Lao said, noting that oil companies have ramped up their orders to comply with the higher biodiesel blend mandate.

The Department of Energy (DoE) previously said that all diesel fuel sold in the country should have coco-biodiesel or coco methyl ester (CME) content of 3% starting Oct. 1, up from the current 2%.

The blend rises to 4% by Oct. 1, 2025, and to 5% by Oct. 1, 2026, aimed at providing price relief and support to the coconut industry.

According to Mr. Lao, Chemrez could also add more lines in the Batangas plant if the repurposed lines in Quezon City are not enough to meet the surging coco-biodiesel demand.

However, he said there is no plan yet.

“We also have to look into it to see if we can get a good return on investment,” Mr. Lao said.

He added that Chemrez is also ramping up the production lines of higher-margin coconut oil products such as medium chain triglycerides oil, which is gaining popularity in both domestic and export markets.

“We have to weigh carefully which will be more beneficial for us to expand,” Mr. Lao said.

Chemrez is the country’s largest biodiesel manufacturer with a capacity of 90 million liters per year.

“This directive from the DoE is a huge step towards progress and the development of the biodiesel and coconut industry in general,” Mr. Lao said.

“This should pave the way for greater energy self-sufficiency while collectively reducing our CO2 footprint on the planet,” he added.

D&L Industries is engaged in product customization and specialization for the food, chemicals, plastics, and consumer products original design manufacturer industries.

The company’s principal business activities include manufacturing customized food ingredients, specialty raw materials for plastics, and oleochemicals for personal and home care use.

On Monday, D&L stocks dropped 3.43% or 23 centavos to P6.47 apiece. — Revin Mikhael D. Ochave

Jack Daniel’s partners with indie productions to promote Pinoy bands 

GABRIEL FAJARDO of Jack Daniel’s Philippines opens the On Stage program.

THIS YEAR, seven Filipino production groups will be strengthening indie music communities through a selection of live event stages in Metro Manila.

They will do this through Jack Daniel’s On Stage 2024, a program that aims to showcase the diversity and richness of the local music scene.

“Tonight, we’re celebrating 20 years of Jack Daniel’s supporting the local independent music community. We’re excited to present Jack Daniel’s much-anticipated return to music after the pandemic,” Mark Huang, Jack Daniel’s market manager for the Philippines, said at the media launch on Sept. 24.

Gabriel Fajardo, brand manager for Jack Daniel’s Emerging Asia, added that the whisky brand has been supporting music since 1866.

“Jack Daniel’s and music equals the perfect mix,” he said at the event in Pasay City. “We look closely at our consumers, at what’s relevant to them. We know that music is the key to the heart and key to the soul.”

This year’s On Stage concept is Playlist LIVE, which provides an avenue for bands to showcase their artistry and musicality on various Metro Manila stages. The production partners who will host and produce the live lineups are: Locked Down Entertainment (Oct. 18), Funky Beat Entertainment (Nov. 9), Doc Def Productions (Nov. 16), The Flying Lugaw (Nov. 23), Gabi Na Naman Productions (Nov. 29), Otelik Presents (Dec. 6), and SYQL (Dec. 7).

PROMOTION RAFFLE
There will also be a national promotion raffle held alongside the music program.

“Jack Up the Volume” will give people a chance to experience music on a global scale — two grand prize winners will be flown to one of the biggest music festivals in Japan.

Others will get a chance to win other prizes like laptops, tablets, premium headphones, electric guitars, vinyl players, and, of course, bottles from the Jack Daniel’s family of brands.

While specifics of the raffle have not yet been released, Mr. Fajardo said that consumers can expect details to be released through Jack Daniel’s Philippines’ social media pages soon. In the meantime, he encouraged the public to mark the dates for the live shows on their calendars.

“Our music program will highlight 35 of our indie artists who will be touring in the seven live shows around Metro Manila,” he said.

“These are artists who came up through the pandemic, survived the hardships, and thrived. We’re bringing these bands back on stage.” — Brontë H. Lacsamana

PAL expanding Australia routes

BW FILE PHOTO

FLAG CARRIER Philippine Airlines (PAL) is expanding its international network as it is set to offer 22 weekly flights to Australia starting next month.

“We are poised to intensify efforts to promote tourism between the Philippines and Australia,” PAL President and Chief Operating Officer Stanley K. Ng said in a media release on Monday.

PAL, operated by listed PAL Holdings, Inc., said it will expand its flights between Manila and Brisbane to daily nonstop flights, seven times a week starting Oct. 27.

With this, PAL has now the widest network of flights to Australia from the Philippines, offering more routes to four cities of Australia than any other carrier, the flag carrier said.

Aside from its daily Manila-Brisbane flights, PAL also operates daily flights to Sydney.

It also provides flights to Melbourne, which it operates five times a week, and flights to Perth, three times a week.

“We at Philippine Airlines are excited to welcome tourists and business travelers onboard our daily flights from Manila to Brisbane, and likewise on our extensive network of nonstop flights to Sydney, Melbourne, and Perth,” Mr. Ng said.

To date, PAL flies to 36 destinations in Asia, North America, Australia, and the Middle East, as well as 32 cities in the Philippines.

“This enhanced connectivity will significantly boost people-to-people exchanges and tourism, and facilitate greater opportunities for trade and investment as the Philippines and Australia advance our Strategic Partnership,” Philippine Ambassador to Australia Hellen B. De La Vega said. — Ashley Erika O. Jose

Shakey’s Pizza Asia plans US subsidiary

LISTED Shakey’s Pizza Asia Ventures, Inc. (SPAVI) is eyeing an expansion into the United States with the planned incorporation of a new subsidiary.

In a regulatory filing on Monday, the company announced that its board had approved the incorporation of a fully owned subsidiary in the US, with its registration expected to be completed after 30 days.

“The incorporated entity will be the group’s platform in its expansion plans in the territory which will grow system-wide sales, revenues, and bottom line internationally via company-owned and franchised stores in the territory,” SPAVI said.

SPAVI said the new subsidiary will own and operate stores and franchises and will market the group’s products and brands.

The company did not provide further details on the new US subsidiary.

SPAVI’s brand portfolio consists of kiosk-based food brand Potato Corner, Peri-Peri Charcoal Chicken and Sauce Bar, Singaporean milk tea brand R&B Milk Tea, and artisanal brand Project Pie.

The company recently opened the 2,000th store of its Potato Corner brand, located in SM Cebu.

SPAVI acquired Potato Corner in 2022 to strengthen its brand portfolio. Potato Corner has a presence in 15 markets globally and has partnered with over 800 franchisees worldwide.

Potato Corner recently entered the Malaysian market and has been expanding its presence in China.

For the first half, SPAVI posted a 14% decline in its net income to P421 million from P489 million last year, citing inflationary challenges.

System-wide sales increased by 14% to P10.1 billion, while operating expenses surged by 36% to P960 million.

SPAVI has 2,351 networks and outlets across its brands as of the end of June.

On Monday, SPAVI shares fell by 0.43% or four centavos to P9.26 per share. — Revin Mikhael D. Ochave

Kris Kristofferson, influential singer-songwriter, 88

KRIS KRISTOFFERSON in a scene from the 1976 film A Star is Born.

KRIS KRISTOFFERSON, who became one of the most influential American singer-songwriters of his time with works such as “Me and Bobby McGee,” as well as becoming a successful actor, died Saturday at the age of 88, according to a family statement.

Mr. Kristofferson had been suffering from memory loss since he was in his ’70s. A family spokesperson said in a statement that Mr. Kristofferson died peacefully at his home in Maui, Hawaii, surrounded by family, but a cause of death was not listed.

Mr. Kristofferson was a Renaissance man — an athlete with a poet’s sensibilities, a former Army officer and helicopter pilot, a Rhodes scholar who took a job as a janitor in what turned out to be a brilliant career move.

Mr. Kristofferson first established himself in the music world as a songwriter in the country music capital of Nashville — writing hits such as the Grammy-winning “Help Me Make It Through the Night,” “For the Good Times,” and one-time girlfriend Janis Joplin’s plaintive No. 1 hit, “Me and Bobby McGee.”

In the early 1970s, he became well-known as a performer with a rumbling, unpolished baritone, as well as an in-demand actor, notably opposite Barbra Streisand in A Star is Born, one of the most popular films of 1976.

Mr. Kristofferson was born in Brownsville, Texas, on June 22, 1936, and moved frequently because his father was a general in the Air Force. After graduating from Pomona College in California, where he played football and rugby, Kristofferson attended Oxford University on a Rhodes scholarship and then fulfilled the family tradition by joining the Army.

He went through the Army’s elite Ranger School, learned to pilot helicopters and reached the rank of captain. In 1965 Mr. Kristofferson was offered a position teaching English — he was enthralled by the works of poet William Blake — at the US Military Academy in West Point, New York, but he turned it down in order to head to Nashville.

Mr. Kristofferson became a janitor at the Columbia Records studio because it would give him a chance to offer his songs to the big-name stars recording there. He also worked as a helicopter pilot ferrying workers between Louisiana oilfields and offshore drilling rigs.

During that time Mr. Kristofferson wrote some of his most memorable songs, including “Help Me Make It Through the Night,” which he said he penned atop an oil platform.

His most audacious song pitch came when he landed his helicopter on Johnny Cash’s lawn — although he denied Cash’s version of him climbing out of the cockpit with an audio tape in one hand and a beer in the other. Cash would later have a No. 1 hit with Mr. Kristofferson’s “Sunday Morning Comin’ Down” lament.

‘NOTHING LEFT TO LOSE’
Mr. Kristofferson’s best songs were filled with seekers, wastrels and broken souls trying to find love, redemption or relief from the hangover that life had given them. The broken-hearted narrator of “Bobby McGee,” a song Mr. Kristofferson said was inspired by the Federico Fellini film La Strada, summed it up with the line, “Freedom’s just another word for nothing left to lose.”

“Kris brought (country music) kind of from the dark ages up to the present-day time, made it acceptable and brought great lyrics — I mean, the best possible lyrics,” Willie Nelson, an early role model for Mr. Kristofferson, told CBS’s 60 Minutes in a 1999 interview. “Simple but profound.”

Mr. Kristofferson recorded four albums with Rita Coolidge, the second of his three wives, in the 1970s and joined Nelson, Cash, and Waylon Jennings in the country music super group the Highwaymen in the 1980s and ’90s.

Mr. Kristofferson’s rugged good looks led to roles in movies such as Cisco Pike, Pat Garrett & Billy the Kid, The Sailor Who Fell from Grace with the Sea, Convoy, Heaven’s Gate, Lone Star, and Blade.

Mr. Kristofferson lived hard during his heyday. There was a long line of girlfriends and performances he could not remember because he was drunk. He gave up drinking — but not marijuana — when a doctor told him he was killing himself.

“It was fun,” Mr. Kristofferson told 60 Minutes. “It was the way that I thought an artist was supposed to live. I always agreed with Blake when he said that the road of excess leads to the palace of wisdom. … I think God protects fools and songwriters.”

After his initial stardom, Mr. Kristofferson took on causes such as the United Farm Workers and spoke out against US government involvement in Nicaragua and El Salvador in the 1980s.

Mr. Kristofferson began experiencing debilitating memory loss in his mid-70s and his performances suffered for it. Doctors told him it appeared to be the onset of Alzheimer’s disease or dementia, possibly brought on by blows to the head while boxing and playing football and rugby in his younger days.

But in 2016, his wife, Ms. Lisa, told Rolling Stone magazine that Mr. Kristofferson had been diagnosed with Lyme disease, which can cause memory problems, and that after treatment and stopping Alzheimer’s medication, his memory began to return partially.

Mr. Kristofferson kept active with a 2016 tour that included performances with Nelson and stops in Europe. That year he also marked his 80th birthday by releasing The Cedar Creek Sessions, an album featuring live versions of his best-known songs.

Mr. Kristofferson and his third wife, Ms. Lisa, whom he married in 1983, lived on the Hawaiian island of Maui for more than 30 years. He had eight children. — Reuters

Local gas focus seen to offset imported LNG prices

REUTERS

PRIORITIZING indigenous gas could help mitigate the rising prices of imported liquefied natural gas (LNG), the Senate committee on energy chairperson said on Monday.

In a statement, Sen. Pilar Juliana “Pia” S. Cayetano, the sponsor of Senate Bill 2793, also known as the Philippine Natural Gas Industry Development Act, recommended prioritizing indigenous gas.

Citing data from the natural gas market, she said that Malampaya gas costs $12.8 per million British thermal units (MMBtu), compared to LNG, which costs $15.3 per MMBtu, inclusive of all regasification and other costs to generate power.

Sen. Sherwin T. Gatchalian earlier flagged certain provisions of the proposed law, one of which prioritizes indigenous gas over imported LNG. He said that this is “problematic” as consumers will be “forced” to pay higher electricity prices whenever indigenous gas is more expensive.

Citing industry sources, he said that the cost of LNG is $10.5 per MMBtu, which corresponds to a levelized cost of energy rate of P7.07 per kilowatt-hour.

Ms. Cayetano renewed her call to her colleagues to “take a patriotic stand” in favor of local natural gas resources by passing the proposed law.

“Let’s take a stand. Prioritize indigenous (natural gas). Support indigenous. And buy indigenous,” she earlier said.

“It ensures a continuous and stable energy supply in the country, even or despite unpredictable events occurring in the global market.”

Ms. Cayetano said that SB 2793 will incentivize the full exploration and development of the Philippines’ indigenous natural gas resources to address concerns about energy security.

She said the proposed law is key to revitalizing indigenous gas exploration, “which has been nearly abandoned because of the absence of clear-cut policies.”

“From 150 wells in the 1970s, there have been no additional drilling efforts since 2019. Are we going to let this industry die? Are we going to be dependent on imported natural gas?” she said. — Sheldeen Joy Talavera

Maggie Smith, mistress of waspishness on stage and screen, 89

Maggie Smith in a scene from Downton Abbey.

LONDON — Dame Maggie Smith, who died on Friday aged 89, was a perfectionist who turned anxiety into an art form and was hailed as one of the great actors of stage and screen.

One of the few actors to win the treble of an Oscar (twice), Emmy (four times), and Tony, Ms. Smith moved effortlessly between performing Shakespeare and Oscar Wilde on stage to the Harry Potter movie franchise and the hit television series Downton Abbey.

But soul-searching about her art was anathema to the British actor, who jealously guarded her privacy and spurned the trappings of stardom.

“I wish I could just go into Harrods and order a personality,” she once said. “It would make life so much easier.”

Perhaps her concern about her perceived lack of personality was what spurred her to take on so many others.

Her first Academy Award nomination was for her turn playing Desdemona opposite Laurence Olivier’s Othello in 1965, before she won her first Oscar for her role as an Edinburgh schoolmistress in 1969’s The Prime of Miss Jean Brodie.

Her second was for her supporting role in the 1978 comedy California Suite, where she played alongside Michael Caine.

Other critically acclaimed roles included Lady Bracknell in Wilde’s The Importance of Being Earnest on the West End stage, a 92-year-old bitterly fighting senility in Edward Albee’s play Three Tall Women, and her part in the 2001 black comedy movie Gosford Park.

STAR OF HARRY POTTER AND DOWNTON ABBEY
In the 21st century, she was best-known as Professor McGonagall in all seven Harry Potter movies, and the Dowager Countess in the hit TV series and movie spin-offs of Downton Abbey, a role that seemed tailor-made for an actress known for purse-lipped asides and malicious cracks.

Margaret Natalie Smith was born on Dec. 28, 1934, in Essex, northeast of London. She moved to Oxford as a small child when her father, a pathologist, took a role at the university, and she began acting in the local theater at 17.

Her big break came in 1956 with New Faces on Broadway. Her 1958 part in the British crime movie Nowhere to Go earned her a BAFTA nomination.

The following years were to see a welter of acclaimed roles in movies (including Travels with my Aunt, A Room with a View, and The Secret Garden), on stage (Lettice and Lovage, Virginia), and on television (David Copperfield, My House in Umbria).

Critic Irving Wardle hailed a mouth that contracted from a wide, inviting smile to the “sucked-in venom of a stoat at bay” — something she put to good use in Downton Abbey.

For many viewers, her waspish turn in the smash-hit historical series that ran on television from 2010 to 2015 was the best reason to watch it, and it earned her multiple awards — although it did little for her desire for a private life.

“I led a perfectly normal life until Downton Abbey. I’m not kidding. I’d go to theaters, I’d go to galleries, things like that, on my own. And now I can’t and that’s awful,” she said at the BFI Radio Times festival in 2017.

Ms. Smith was known for being demanding on herself and others. Theater director Peter Hall, who worked closely with her for many years, said: “She nags herself into perfection.”

She had a tempestuous eight-year marriage to actor Robert Stephens, which ended while they were playing newly entangled divorcees in Noel Coward’s Private Lives. They had two sons — actors Toby Stephens and Chris Larkin.

Ms. Smith then married her teenage sweetheart, writer Beverley Cross, a rock of imperturbability for her until his death in 1998.

In 1990, Ms. Smith was knighted by Queen Elizabeth and became a Dame. — Reuters

Ochre Tower in Tagaytay to break ground in Oct.

HIGHLANDS Prime, Inc. (HPI), a subsidiary of SM Prime Holdings, Inc., has unveiled its Ochre Tower project within Tagaytay Highlands, a mountain resort and mixed-use development in Tagaytay, with completion scheduled for 2029.

Ochre Tower will break ground in October and be completed by 2029, the company said in a statement last week.

“Ochre is only one of five mid-rise residential buildings with five to nine floors comprising a composite design that is inspired by all things Tagaytay Highlands,” HPI said in a media release on Sept. 26.

Ochre units range from 46.12 to 97 square meters and provide spaces for both work and leisure, according to the company.

The unit price ranges from P10.9 million to P21.2 million, not including penthouse units.

The company said it envisions this low-density condominium development to promote open-air activities.

“Highlands Residences is confident that there will be strong interest in its Ochre Tower as Tagaytay Highlands remains committed to sustain its vision to be the exclusive leisure property of choice amid the demand for luxury mountain resort living,” it added. — Aubrey Rose A. Inosante

Entertainment News (10/01/24)


Junior Orchestra to perform at MiraNila

THE MiraNila Heritage House & Library is presenting the concert Strings of Gold: The Manila Symphony Orchestra Returns Triumphant from Europe on Oct. 1 at 6 p.m. It follows the orchestra’s triumph with a gold prize and Grand Prix in the 13th Bratislava International Youth Music in Slovakia back in July. In the same month, the group journeyed to Vienna and garnered the top prize at the 2024 Summa Cum Laude International Music Festival, besting 140 orchestras from 33 countries. The repertoire for the concert will include classical works for strings by Josef Suk, Antonio Vivaldi, and Antonín Dvořák, as well as popular classics by Andrea and Ennio Morricone, Harold Arlen, Ryan Cayabyab, Conrado del Rosario, BINI, and Benny Castillon, among others. Tickets are still available, costing P1,500 on a first-come-first-save basis. Reservations can be made via 0927-277-6335 (Robeen Manalo). Pre-concert snacks and post-concert dinners are available at Bizu MiraNila with a 5% discount for ticket holders on the day of the concert. MiraNila Heritage House & Library is located at 26 Mariposa St., Brgy. Bagong Lipunan, Crame, Quezon City.


And So It Begins is PHL’s entry to the Oscars

THE Film Academy of the Philippines (FAP), the country’s umbrella organization of various movie guilds, announced that it has selected And So It Begins as the Philippine entry to the International Feature Film Award category of the 97th Academy Awards. The film is a documentary on the people’s movement that was born out of the 2022 presidential elections. It presents the parallel journeys of presidential candidate and then Vice-President Leni Robredo, and Nobel Laureate and Rappler founder and journalist Maria Ressa. The story shows the struggle for freedom, truth and meaningful change, amid the rise of fake news and forces that threaten democracy. “After fielding an animated entry (Iti Mapukpukaw) for the first time last year, the Philippines is again making history as it sends a documentary to the Oscars,” FAP said in a statement. The film previously screened at the 2024 Sundance International Film Festival and opened in the Philippines on Aug. 21.


Billyrrom’s first album out now

GENRE-defying Japanese band Billyrrom, known for their unique sound dubbed “Tokyo Transition Soul,” which blends soul, funk, and rock, has dropped their first album. Titled WiND, the 11-track record includes previously released singles “DUNE,” “Windy You,” and “Once Upon a Night.” The band said in a statement: “Each sound and word that composes this album is filled with the thoughts, efforts, and creative exploration not only from the six of us but also from the many people who contributed to its production.” Billyrrom was recently chosen Japan’s representative for Fender Next 2024, an artist support program by the renowned guitar brand, which selected 25 promising talents out of 1,000 artists worldwide. WiND is available now on all digital music streaming services.


K-pop group SEVENTEEN to premiere concert film

ON OCT. 17, fans of K-pop icon SEVENTEEN will be able to watch their concert film SEVENTEEN TOUR ‘FOLLOW’ AGAIN on Disney+. Filmed at Seoul’s World Cup Stadium, the upcoming release features all 13 members of the popular group as they premiere their hit song “MAESTRO”, as well as unit performances of “Spell,” “LALALI,” and “Cheers to Youth” during a sunset-to-nighttime show. It drops on Oct. 17 on Disney+.


Japanese boy band Number_i releases debut album

RISING J-pop sensation Number_i has released their debut album No. I, featuring contemporary R&B single “ICE.” The 14-track album aims to offer a fresh take on the J-pop genre with fan favorites like the hit “GOAT,” the Sho Hirano-produced “BON,” and the recently released “INZM.” The band gained acclaim following their performance at 88rising’s Coachella stage back in April. Their debut album No. I is out now on all digital music streaming platforms.


Tom Hardy returns in Marvel’s Venom: The Last Dance

IN Venom: The Last Dance, Tom Hardy is returning as Venom, one of Marvel’s most complex characters, for the final film in the trilogy. In it, the actor plays both Eddie and Venom, who are on the run as they are hunted by both of their worlds. Venom: The Last Dance also stars Chiwetel Ejiofor, Juno Temple, Rhys Ifans, Peggy Lu, Alanna Ubach, and Stephen Graham. The film is directed by Kelly Marcel. It arrives in Philippine cinemas on Oct. 23, distributed by Columbia Pictures, the local office of Sony Pictures Releasing International.


KAIA drops new pop single

AS ONE of the most sonically adventurous P-pop groups in the Philippines, KAIA aims to push more boundaries with their new single, “Walang Biruan,” out now via Sony Music Entertainment. The bubblegum-pop track channels the playful side of young love. “The song is about telling someone how much you like them sweetly and honestly. It has a catchy tune and lighthearted vibe, making it easy to relate to and enjoy,” KAIA said in a statement. It was co-written and co-produced by eclectic boy band KINDRED’s Luis Montales and Kenneth Amores, who aided the five members of KAIA in bringing out their spontaneity. A music video by Jonathan Tal Placido of Toothless will soon be released.


Anime film The Colors Within set to arrive in the Philippines

FROM the mind of anime director Naoko Yamada comes The Colors Within, which arrives in the Philippines on Oct. 23. Ms. Yamada, known for the hit anime series K-On!, will be delivering another heartfelt musical journey with an original film. The Colors Within follows Totsuko, a high school student who has the ability to see the “colors” of other people, her favorite being that of her classmate, Kimi. Together, they form a band with the quiet Rui, leading to a story of friendship and music. The film opened to critical acclaim at the Annecy International Animation Film Festival in France, also winning a Golden Goblet Award for Best Animation at the Shanghai International Film Festival. The Colors Within will open in Philippine cinemas on Oct. 23.


A1 to serenade Manila in 2025 Valentine’s concert tour

FANS of the British-Norwegian boy band A1 have something to look forward to this coming Valentine’s season in 2025. The iconic pop group, known for their timeless hits and heartfelt performances, is returning to Manila for their Valentine’s Tour 2025 on Feb. 15, 2025, at the New Frontier Theater, Araneta Center, Quezon City. Following the success of their TWENTY FIVE concert tour in 2023, A1 members will once again take the stage to perform classic hits such as “Like a Rose,” “Everytime,” “Same Old Brand New You,” and “Caught in the Middle.” Tickets, with prices ranging from P3,000 to P5,750, are now on sale via the TicketNet website and physical outlets.


E-sports movie Friendly Fire to premiere in October

THE coming-of-age film Friendly Fire by director Mikhail Red will be making its premiere on Oct. 23. Starring Loisa Andalio as Hazel Sales, a female amateur gamer who plays the shooter game Project: Xandata, the film takes its characters on a journey of self-discovery. Discovered and recruited by Sonya Wilson (played by Coleen Garcia), Hazel soon joins the professional e-sports team dubbed Team Isla. The film also stars Yves Flores, Bob Jbeili, Harvey Bautista and Jan Silverio. Friendly Fire opens on Oct. 23 in cinemas nationwide.


StageDoor to host the Philippines’ first musical theater rave

GMG Productions’ StageDoor is set to host the Philippines’ first-ever Musical Theater Rave this October. The groundbreaking event brings musical theater fans together where Broadway meets the dance floor. “StageDoor is beyond excited to bring this unique experience to Manila. We’ve always aimed to create safe, inclusive spaces where fans can connect over their shared love for musical theater, and this night is the perfect way to do just that,” said Carlos Candal, GMG Productions’ CEO, in a statement. Featuring beats from DJ Daddy A, the event will play musical hits, from Broadway classics to Disney favorites. The event is open to people ages 16 and up. Attendees are encouraged to come dressed as their favorite musical theater characters and participate in the costume and lipsync contests for a chance to win prizes. It will be held on Oct. 26 at the Globe Auditorium, Maybank Performing Arts Theater, Bonifacio Global City. Tickets, priced at P1,500 (inclusive of two complimentary drinks), are available via TicketWorld.


Soundtrip Sessions features South Border, Ella May Saison

FOR an evening of soulful melodies, Soundtrip Sessions Vol. 3 will feature two iconic acts: Ella May Saison and South Border. It will be held at The Theater at Solaire on Nov. 9 at 8 p.m. Tickets are available via TicketWorld.