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IMF to hold consultation mission in PHL in Sept.

THE International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S. — REUTERS

THE INTERNATIONAL Monetary Fund (IMF) will hold its annual discussions with the Philippines starting in September, an official said.

IMF Representative to the Philippines Ragnar Gudmundsson said the IMF will hold its Article IV Consultation mission from Sept. 21 to Oct. 3. A press briefing is scheduled on Oct. 3.

“We will be discussing the growth outlook in the near term, taking into consideration the second-quarter numbers, and over the medium term, with a focus on economic diversification, digitalization, and policies to promote green and inclusive growth,” he said in a text message.

The IMF earlier said it may revise its forecasts for the Philippines, after the slower-than-expected 4.3% gross domestic product (GDP) growth in the second quarter. For the first half, GDP averaged 5.3%.

Economic managers have said GDP has to expand by at least 6.6% in the second half to be able to meet the government’s 6-7% target.

In its July World Economic Outlook update, the World Bank raised its growth outlook for the Philippines to 6.2% from the 6% forecast it gave in April. However, it lowered its 2024 growth projection to 5.5% from 5.8% previously.

“We will also be discussing the Medium-Term Fiscal Framework, monetary policy and inflation targeting, and the soundness of the financial system, amongst other topics,” Mr. Gudmundsson said.

He said the IMF’s Executive Board meeting may take place in late November.

The IMF currently expects full-year inflation to average 5.5% in 2023, before easing further to 3.2% by 2024. Both projections are below the Philippine central bank’s 5.6% forecast for 2023 and 3.3% next year.

To tame inflation, the Bangko Sentral ng Pilipinas raised borrowing costs by 425 basis points from May 2022 to March 2023, bringing the key interest rate to a near 16-year high of 6.25%. 

Under Article IV of the IMF’s Articles of Agreement, the IMF holds annual bilateral discussions with its members. A team from the IMF will visit the country to assess economic and financial developments and hold meetings with government and central bank officials.

The team will then present its findings for discussion to the IMF Executive Board, which represents all of IMF’s member countries. A summary of the IMF Board’s assessment will be given to the country’s government. 

The IMF last conducted its annual consultation with the Philippines in September 2022. The multilateral lender publicly released its staff report on Dec. 15 last year. — Keisha B. Ta-asan

Deficit-to-GDP ratio still a concern, analysts say

PHILIPPINE STAR/ MIGUEL DE GUZMAN

By Luisa Maria Jacinta C. Jocson, Reporter

THE deficit-to-gross domestic product (GDP) ratio may have slipped as of end-June, but analysts said it is still a cause for concern as it should have been driven by fiscal consolidation rather than slow spending.

“Although the low deficit-to-GDP ratio seems to be a positive development, its primary driver — government underspending — is a cause for concern, especially with regard to economic performance,” China Banking Corp. Chief Economist Domini S. Velasquez said in a Viber message.

The National Government’s (NG) deficit-to-GDP ratio slipped to 4.8% as of end-June from the 6.5% ratio in the same period in 2022.

This year, the government has set a budget deficit ceiling of P1.499 trillion, equivalent to 6.1% of GDP.

“Lower deficit- and debt-to-GDP ratios are ideal but the lower deficit numbers simply reflect underspending, which was a main reason for the second-quarter GDP growth miss,” ING Bank N.V. Manila Senior Economist Nicholas Antonio T. Mapa said in a Viber message.

Data from the Bureau of the Treasury (BTr) showed that the budget deficit in the first half narrowed by 18.17% to P551.7 billion from P674.2 billion a year ago. However, it fell short of its program for the period by 28.49%.

The BTr attributed this to slow state spending, which inched up only by 0.42% to P2.41 trillion and fell short of its program by 6.6%.

“Underspending is a major concern for the government as they vowed to improve disbursement in the second half of the year,” Mr. Mapa added.

The Philippine economy expanded by 4.3% in the second quarter, much slower than the 6.4% growth in the first quarter and 7.5% in the same period last year. This was mainly attributed to the weak consumption and decline in government expenditures.

Government spending in the second quarter contracted by 7.1%, a reversal of the 10.9% growth a year ago and the 6.2% growth in the first quarter.

“If the GDP is increasing, the lower deficit-to-GDP would have been a favorable development. However, since the GDP is contracting, a lower ratio becomes a negative indicator,” Ateneo de Manila University economics professor Leonardo A. Lanzona said in an e-mail.

In order to address sluggish spending, the government has ordered agencies to come up with a catch-up plan to accelerate expenditures and utilize their budgets more efficiently.

Ms. Velasquez said that the government’s plan to expedite spending for the remainder of the year could lead to a higher deficit-to-GDP ratio by the end of the year.

“We expect the government to ramp up spending in the coming months to catch up with the fiscal program, which could lead to wider budget deficits and potentially drive up the deficit-to-GDP ratio,” she said.

“Moving forward, we think that the medium-term fiscal program, where government programs a slower and consistent fiscal consolidation until 2028, is more beneficial in terms of balancing fiscal prudence and ensuring sufficient support for economic growth,” she added.

Mr. Mapa noted the government should improve fiscal consolidation efforts.

“Authorities must strike a balance between fiscal consolidation (better debt and deficit metrics) and investing in the economy as this will ensure a more resilient growth engine for the years to come,” he added.

Economic managers are targeting 6-7% GDP growth this year and 6.5-8% for 2024 to 2028.

Under the medium-term fiscal framework, the government is aiming to bring the debt-to-GDP ratio to below 60% by 2025 and reduce the deficit-to-GDP ratio to 3% by 2028.

“The recent statements on increasing or expanding government expenditures are clear departures from the official general policy of not spending dating back from the Duterte administration. As the government now begins to see the folly behind their strategy, it is then likely that the ratio will begin to increase up to the end of the year. But, with the growth momentum now dissipated, the damage has been done,” Mr. Lanzona added.

Pump price hikes may affect inflation downtrend

An attendant puts up new fuel prices on the board at a gas station in Paco, Manila, Aug. 8, 2023. — PHILIPPINE STAR /EDD GUMBAN

THE SERIES of fuel price hikes this month may likely reverse or temper the current inflation downtrend, analysts said.    

“It is not hard to imagine that the oil price hikes in August will probably have an effect on overall inflation,” Ser Percival K. Peña-Reyes, associate director of the Ateneo Center for Economic Research and Development, said in a phone interview.

So far this month, oil companies have raised pump prices by P5.60 per liter for gasoline, and P9.20 per liter for both diesel and kerosene.

Fuel retailers are scheduled to announce pump price adjustments today (Aug. 28).

On Friday, Brent futures rose by $1.12 or 1.3% to settle at $84.48 a barrel, while US West Texas Intermediate crude increased by 78 cents or 1% to settle at $79.83.

The sharp rise in global crude oil prices has pushed pump prices higher in recent weeks. This is mainly due to the oil production cuts from the Organization of the Petroleum Exporting Countries and its allies.    

“The uptick in pump prices will result in a less pronounced fall in headline inflation,” Nicholas Antonio T. Mapa, senior economist at ING Bank N.V. Manila, said in a Viber message.

Headline inflation slowed to 4.7% in July from 5.4% in June. In particular, transport inflation contracted by 4.7% in July, a faster annual decrease from 3.1% in June.

For the first seven months of the year, inflation averaged 6.8%. The Bangko Sentral ng Pilipinas’ (BSP) latest baseline projections still show a return to the 2-4% inflation target range in the fourth quarter.

However, the BSP slightly raised the 2023 average inflation forecast to 5.6% from 5.4% previously, citing wage hikes and the recent increase in global oil prices. It also hiked the inflation projection for 2024 to 3.3% from 2.9%, previously.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said the recent fuel price hike could drive up prices of other goods and services.

“The higher base/denominator effects on global crude oil prices could diminish and eventually normalize especially starting September 2023,” Mr. Ricafort said. “This could lead to some risk of re-inflation for the coming months especially by early 2024.”    

Other risks to the inflation outlook include the impact of storm damage on agriculture, higher rice prices, and recent wage hikes in the National Capital Region.

“Inflation could reaccelerate in the coming months in light of these developments, but slowing demand may offset inflation. If demand remains robust, inflation could reaccelerate,” Mr. Peña-Reyes said, adding that consumer spending is expected to further slow.

Mr. Ricafort said the peso depreciation against the dollar may have also increased the prices of imported fuel and other products.

The local unit closed at P56.57 versus the dollar on Friday, depreciating by 1.4% or 81.50 centavos from its P55.755 finish on Dec. 29.    

Meanwhile, China Banking Corp. Chief Economist Domini S. Velasquez said the BSP should remain on “standby” to mitigate any possible financial market volatilities given the US Federal Reserve’s hawkish statements over the weekend.    

“An excessive peso depreciation can still prompt BSP to hike. To aggravate the situation, we are also seeing higher food and oil prices possibly driving inflation higher this second half of the year,” she said.   

US Federal Reserve Chair Jerome H. Powell on Friday said they are prepared to raise interest rates as necessary to ensure inflation falls within target.    

“A key takeaway from Jackson Hole is that the Fed has reiterated that it will keep interest rates elevated for a longer period of time. As a consequence, even with inflation falling within the BSP’s target for the Philippines, cutting of policy rates may be delayed to preserve interest rate differentials,” Ms. Velasquez said.    

For ING’s Mr. Mapa, Mr. Powell’s statements were “balanced,” citing that the US Fed is open for a pause but is still ready to hike more if necessary.    

“The BSP will continue to be data dependent and not wedded to a particular strategy. Rate hikes are possible if the Fed continues to hike while also remaining open to pausing or cutting should the Fed do so,” Mr. Mapa said.    

The BSP will next meet on Sept. 21 to discuss policy. — K.B. Ta-asan

Listed telco, tech firms seen to sustain growth in earnings 

BW FILE PHOTO

LISTED telecommunications and information and communications technology (ICT) companies are expected to deliver higher results for the second semester on increasing demand for data and the growing adoption of digital transformation, analysts said.

“Our view in the short term is more of the same since telco companies are less susceptible to the inflationary headwinds the region is experiencing. However, sudden macro or geopolitical shocks could still revise our outlook for the remainder of the year,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

For the first semester, most telecommunication companies posted gains compared with the same period last year mainly boosted by revenue growth for the second quarter of the year.

Pangilinan-led PLDT Inc. recorded an attributable net income of P9.44 billion for the second quarter, a 22.4% increase from P7.71 billion a year ago amid higher revenues and lower operational expenses.

PLDT saw its gross revenues increase by 1.4% to P51.68 billion from P50.96 billion previously.

“The outlook for Philippine telco and ICT companies is generally positive, with growth expected to continue in the coming years. The industry is being driven by a number of factors, including the increasing demand for data, the growing adoption of mobile internet, and the government’s efforts to promote digital transformation,” said Toby Allan C. Arce, head of sales trading at Globalinks Securities and Stocks, Inc.

Converge ICT Solutions, Inc. reported a second-quarter net income of P2.11 billion, marking a 6.6% increase from P1.98 billion a year ago, which it attributed to subscriber growth and lower cost of services.

Globe Telecom, Inc. reported an increase of 17.7% in its attributable net income to P7.07 billion for the second quarter from P6.01 billion in the same period last year.

From April to June, the company’s gross revenues reached P44.49 billion, an increase of 1.7% from P43.76 billion in the corresponding period of 2022.

“As more people access the internet and consume digital content, there is a growing need for high-speed data services. Telecom companies that can offer reliable and affordable data plans are likely to see increased revenue,” Mr. Arce said in a Viber message. 

Meanwhile, DITO CME Holdings Corp. trimmed its attributable net loss for the second quarter to P1.10 billion from P4.63 billion a year ago after it posted higher gross revenues for the period.

For the second quarter, DITO CME recorded P2.62 billion in gross revenues, 54.1% higher than the P1.70 billion a year ago.

Its telecommunications venture is via DITO Telecommunity Corp., which is considered the country’s third dominant telco player.

However, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort gave a somewhat bleak outlook for the sector after the deactivation of unregistered subscriber identity modules or SIM cards, which might drag companies’ revenues and earnings for the coming months.

To recall, mobile operators have started to deactivate SIMs that were unable to register after the July 25 deadline.

“However, this is offset by the economic reopening narrative that would further increase business and economic activities as well as telco revenues and net income,” Mr. Ricafort added. — Ashley Erika O. Jose

Lancôme returns to the Philippines

LANCÔME is returning to the Philippines through a Greenbelt pop-up, but also through online channels and future stand-alone stores.

Lancôme had previously been in the Philippines, distributed through a luxury department store, but had faded from shelves in the mid-2010s.

“There are different reasons why we felt it was really the right time to launch Lancôme. [There is a] luxury market that is really soaring. You can see it not only in luxury beauty,” said Yannick Raynaud, L’Oréal Philippines Country Managing Director during a launch on Aug. 19, where guests were taken through the Greenbelt pop-up store.

“Luxury has changed as well,” she said, counting this change among Gen Z. “Yes, sophistication, personalization… but also responsibility.” To this point, 99% of the roses the brand uses are organically grown, and as for natural ingredients they use, they have biodiversity protection in mind, and are working on reducing plastic packaging, as well as providing refillable options.

Lancôme was founded in the 1930s by aristocrat Guillaume d’Ornano and business partner Armand Petitjean, taking its name from the Lancosme forest. Originally founded as a perfumery, the brand was acquired by L’Oreal in the 1960s.

“We’re the expert in developing safe, efficient products that are going to be the utmost quality. There is no compromise for us. Lancôme is the epitome of beauty, and it benefits from the most advanced formulas that we have in the group,” said Ms. Raynaud.

Products to look forward to include the Advanced Génefique Face Serum, containing 6 billion pre- and probiotic fractions in every bottle. This product aims to strengthen the skin’s protective moisture barrier. The L’Absolu Rouge lipstick headlines the brand’s make-up category, which is designed for high-performing and long-lasting beauty for its users. This lipstick, which doubles as skincare but with elevated color, comes in cream and matte finishes. Meanwhile, Idole, one of the brand’s more famous fragrances, has notes of citrus, rose, jasmine, and white musk, and is layered over a vanilla base. The three categories of skincare, makeup, and perfume are represented in the pop-up, where a skin analysis machine can show what one’s skin will look like after 15 years.

One of the brand’s more famous faces is actress Isabella Rossellini, who first appeared in advertisements for the brand in the 1980s and continued working with the brand for more than 10 years. She once again appeared as their face in 2016. “And we’re still with her today,” said Ms. Raynaud. “It says something about the brand. It’s not a test of time. It’s actually the legacy of time that we cherish, and the evolution of the power of women.”

Ms. Raynaud described the Lancôme woman thus: “Imagine this elegant Parisian woman, walking in the streets, standing tall, fresh-faced. This little blush in her face, because she’s in a hurry, but she’s also happy. By no means is she gray, stern; and she has the one thing that is very French: freedom.”

Discussing future distribution channels for Lancôme, Ms. Raynaud mentioned future spaces in Rockwell, Look by Watsons, online shops in Lazada and Shopee that launched last week, a spot in SM Makati, and kiosks in “high traffic areas in malls.”

“We just want to make sure that everywhere we will be, we will be the best experience for the consumer.”

The Lancôme pop-up store is at Greenbelt 5. — Joseph L. Garcia

Meralco exceeds renewables capacity target

MANILA Electric Co. (Meralco) said it had surpassed its target renewable energy (RE) contracts with an equivalent capacity of 1,880 megawatts (MW) as part of its long-term sustainability strategy.

In a media release over the weekend, the company said it had breached its initial target of 1,500 MW of RE capacity from various suppliers in compliance with the government’s renewable portfolio standards (RPS) policy.

“Our just, orderly, and affordable transition to clean energy is at the core of our sustainability journey, and this commitment solidifies our drive to bring to life projects that will help serve the country’s growing energy demand with greener power,” Meralco First Vice-President and Chief Sustainability Officer Raymond B. Ravelo said.

Under the RPS scheme, electricity suppliers are required to source a portion of their energy supply from eligible RE sources to contribute to the growth of the RE industry in the Philippines.

“We will continue to elevate and evolve our sustainability initiatives as we implement our long-term sustainability strategy that involves the adoption of next-generation clean technologies and deep decarbonization efforts as we aspire to be coal-free by 2050,” he added.

As of end-2022, RE accounted for about 22% of the country’s total energy mix, with coal-fired power plants accounting for almost 60%.

The government targets to increase the share of RE to 35% by 2030 and 50% by 2040. Last year, the Department of Energy raised the RPS requirement to 2.52% per annum starting in 2023 from 1% per annum previously.

“Through Meralco’s strategic sourcing initiatives, RE is expected to account for 22% of the distribution utility’s supply portfolio by 2030, and 18% of Meralco’s retail electricity supplier, MPower, by 2025,” the company said.

This will enable the company to reduce its total carbon emissions by 15% in relation to the projected baseline 2030 emissions, it said.

In a separate media release, One Meralco Foundation (OMF), the corporate social responsibility arm of Meralco, said it had installed a 5.1-kilowatt peak solar photovoltaic system in Davao de Oro for the rice milling facility of the Laak Multipurpose Cooperative.

The cooperative’s rice milling production increased threefold to over 100 sacks of milled rice daily from about 30 sacks per day previously with the building of a new solar facility, the company noted.

“Lack of electricity continues to be a challenge for many communities, especially in rural Philippines. The agriculture and livelihood electrification is an expansion of our community electrification program that fosters inclusivity and equitable access to basic services powered by sustainable and renewable energy solution,” OMF President Jeffrey O. Tarayao said.

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 an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera

Get a moisturizing pop of color with these tinted lip balm recommendations

Perfect for low-maintenance beauty lovers

By Zsarlene B. Chua

IF YOU ask me which color cosmetics are non-negotiables in my routine it’s these three things — tinted sunscreen, loose powder, and a tinted lip balm. A few years ago, I’d list a few more items including mascara, blush, and eyeliner. But after staying indoors for so long, I’ve come to love a super minimal routine that focuses more on having good skin and multi-purpose products — simply because I just can’t be bothered to do a full face every day.

That’s why I love tinted lip balms: they protect my always dry and chapped lips and give me that pop of color that makes me feel a little bit more put together even if my meetings are mostly over Zoom.

If you’re someone who also deals with chapped lips, someone who doesn’t really enjoy matte formulations, or someone who just wants something lighter and minimalist, here are a few tinted lip balm recommendations you can try adding to your skincare routine:

(Note: I previously wrote about my favorite non-tinted lip balms so if you prefer that, please read my product recommendations here: https://www.bworldonline.com/arts-and-leisure/2023/05/08/521252/take-care-of-your-lips-with-these-four-lip-balm-recommendations/)

HUMAN NATURE TINTED LIP BALM (P119.75/4 GM)
Recently, I’ve found myself using a ton of Human Nature products — from their lotions, shampoo bars, shampoos, facial toners and cleansers, and especially their lip balms — as I’ve come to appreciate the natural formulation in their products and the company’s sustainability and pro-Filipino efforts.

Their lip balms have always been among my favorite products from the brand and I always have a tube or two of Human Nature Tinted Lip Balm in my bag. These lip balms contain cocoa butter, beeswax, and plant oils that help keep your lips moisturized throughout the day and, unlike their lip butters, these lip balms are not prone to melting even during hot humid days.

The tinted lip balms come in seven shades: Rosewood (blue-red), Guava Jelly (purple), Pink Orchid (pink), Tulip Bloom (mauve), Island Kiss (coral), Poppy Punch (brick red), and Flame Tree (true red). I’ve tried Pink Orchid and Flame Tree and loved both mostly because the pigmentation is great and the texture is waxier which helps it stay on the lips and not move around.

Of all the products I’m reviewing, this is the one that stays on the longest.

EVER BILENA PLUS SERUM TINTED LIP BALM (P245/3.2 GM)
One of the newest products from Ever Bilena’s skin-caring cosmetics line (EB Plus) is the Serum Tinted Lip Balm. The product is said to be formulated with Vitamin E, Shea Butter, and Hyaluronic Acid to “soothe and hydrate your lips while giving a pop of color.”

It comes in four shades: Latte (light terracotta), Bloom (a mauve-y red), Toast of New York (mauve), and Naked (nude pink).

Of all the shades, I have been using Toast of New York a ton as it’s my perfect “My Lips But Better Shade” and it really brightens up my face. Latte is for when I just want very minimal color as it barely shows up on my skin tone (I’m fair with warm undertones). My mother, on the other hand, fell in love with Bloom and has been using it constantly.

Unlike the Human Nature Tinted Lip Balm, these EB Plus Tinted Lip Balms are more lightweight but with a similar color pay-off. So, if you prefer products that feel like you are almost wearing nothing when applied, I’d go for the EB Plus Serum Tinted Lip Balms.

Plus, the packaging is very elegant and perfect for those with clean beauty aesthetics. It comes in a hefty plastic octagonal-shaped tube that feels and looks premium despite having that budget-friendly price tag.

BURT’S BEES TINTED LIP BALM (P545/4.25 GM)
Here’s an old classic for everyone who wants a tried-and-true product from a tried-and-true brand — Burt’s Bees Tinted Lip Balm. It comes in eight shades though the only shades I’ve ever seen at my local drugstore are Hibiscus (Light Pink) and Daisy (a darker pink, almost mauve shade).

Unlike the two previous recommendations, the Burt’s Bees Tinted Lip Balms offer the least pigment pay-off, though in my experience, it moisturizes the longest.

It’s not as lightweight as the EB Plus Serum Tinted Lip Balms but it’s not as waxy as the Human Nature ones — it sits at that Goldilocks texture spot. It does, however, smell like beeswax, which I’m not a fan of as it smells like I’m rubbing a candle on my lips.

OMI MENTURM KUCHIBENI IRANAI LIP BALM (P145/3.5 GM)
Finally, to wrap up my list of favorite tinted lip balms is Omi Menturm Kuchibeni Iranai Lip Balm. It’s certainly a mouthful and I’ve gotten my hands on this from either Daiso or a care package from our relatives in Japan. Honestly, I forgot how I got this product but it’s pretty good nonetheless.

(I’ve seen it being sold on Lazada and Shopee and for those who want to try it, please make sure you’re buying from a legitimate seller to ensure product quality.)

The Omi Menturm Lip Balm is good because, 1.) it has SPF 12 and while that’s not enough to protect your lips from the sun, it’s better than nothing; and, 2.) unlike other tinted lip balms, this one stains your lips long after the balm is done.

I’ve used the Sakura Pink shade that gives you a light pink stain — and it does stain. I’ve been in situations where the color stayed for a day and a half and a vigorous lip exfoliation was the only thing that removed it.

Also, unlike the other lip balms, it doesn’t really do a lot as a lip balm — it dries up really quickly, which doesn’t really work for someone like me who has chapped lips. But I fell in love with the tint it leaves behind so I kept using it. So, I recommend this product for someone who doesn’t have dry lips and wants something lightweight lip stain that offers a little moisturization.

And that’s it, those are my tinted lip balm recommendations — I’ve tried not only to review and recommend products I love, but also to provide a number of choices for people who may want different textures, pigment pay-offs, etc.

Tell me your own tinted lip balm recommendations and any other skincare or cosmetic faves because I’m always looking for new products to try.

 

Zsarlene Chua is a former BusinessWorld reporter who is now a fledgling PR girl. She’s all about skincare, makeup, and video games. None of the products recommended are the writer’s clients. These are all independently reviewed and acquired products. Contact the author at zsarlene.chua@gmail.com.

Maynilad’s Muntinlupa plant nearly done

MAYNILAD Water Services, Inc. said the construction of its water treatment plant in Muntinlupa is 80% complete and is expected to produce 50 million liters per day (MLD) of additional water by the end of this year.

In a media release on Saturday, the west zone concessionaire said it had started the gradual commissioning of the plant to ensure that it can produce the initial amount of potable water by December.

Once fully operational by the first half of 2024, the P11-billion water treatment facility is expected to produce a full capacity of 150 MLD to provide water to customers in Parañaque, Las Piñas, Muntinlupa, and Cavite.

“This facility will help to enhance service reliability, as it will provide additional supply for customers in the south so their water service will not be affected despite raw water quality shifts in Laguna Lake, which have been occurring with more frequency owing to climate change effects,” the company said.

The treatment plant will be Maynilad’s third facility to tap Laguna Lake as an alternative source of raw water to the Angat Dam. Maynilad has two treatment plants in Putatan, Muntinlupa that supply 300 MLD of potable water to around 1.7 million customers in the south.

The project is part of Maynilad’s P220-billion service enhancement program from 2023 to 2027 that is focused on promoting enhanced water sustainability and climate resiliency.

Earlier this month, the Metropolitan Waterworks and Sewerage System said it was investigating Maynilad’s water service interruptions, which the company said were due to maintenance activities at its Putatan treatment plant. The company said it was replacing all 14 ultrafiltration membranes at the facility.

Meanwhile, the company has invested P5.7 billion for the construction of five treatment plants in four cities up to 2027 under its “new water” project.

The new facilities, once operational, will have a total combined capacity of 97 MLD, which is enough to supply the water needs of almost 400,000 customers.

Of the four facilities that are under construction, the treatment plant in Valenzuela is targeted to start operations within the year.

Maynilad serves Manila, except for portions of San Andres and Sta. Ana. It also operates in Quezon City, Makati, Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas, and Malabon. It supplies the cities of Cavite, Bacoor, and Imus, and the towns of Kawit, Noveleta, and Rosario, all in Cavite province.

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

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

Filinvest City offers free charging station for EVs

THE FILINVEST group has launched the first electric vehicle (EV) charging station in Filinvest City, Alabang as part of its sustainability efforts.

Filinvest Development Corp. (FDC) Director Michael Edward T. Gotianun said on the sidelines of the launch event Friday last week that the charging station features an AC charger and is available for free.

“We do not want to be left behind by other countries on the EV, although it will take some time for it to be adopted. For people looking to charge their cars, this is a place for them to charge,” Mr. Gotianun said.

Filinvest City, managed by Filinvest Alabang, Inc., is a township development spanning 244 hectares. Filinvest Alabang is a subsidiary of FDC.

The charging facility, which has two chargers, is located in the Central Park of Filinvest City.

“We strategically placed the EV charging station here in Central Park given that this is the city center of convergence, the heart of Filinvest City. It is accessible through all points in the township,” Filinvest Alabang First Vice-President for Townships Don-Don S. Ubaldo said during the event.

“Together, we are pioneering solutions that merge technology, sustainability, and convenience. This is a testament to our collective vision for a city that harmonizes with nature,” he added.

Meanwhile, Mr. Gotianun said that Filinvest is mulling to install more EV charging stations in other developments in line with Republic Act No. 11697 or the EV Industry Development Act (EVIDA).

“We are probably putting some parking charging stations in the other developments,” Mr. Gotianun said. “We have other developments all over Metro Manila. We have developments in Cebu and in Davao. We have hotels as well.”

A provision under EVIDA mandates the government and the private sector to allocate 5% of their fleet to EVs.    The law also orders establishments to set aside dedicated EV parking slots, the installation of charging stations in parking lots and fuel stations, the opening of green routes for EV users, and support for domestic EV manufacturing. — Revin Mikhael D. Ochave

Vice Ganda named Shopee endorser in time for big sale

The impulse buyer admits to last minute shopping on Dec. 24

VICE Ganda, one of the most visible LGBTQ+ stars on small and big screens, has been tapped to become Shopee’s latest ambassador. The TV host and comedian was announced as the star of the online shopping platform’s 9.9 campaign.

During the launch of the campaign on Aug. 23 at Shopee’s headquarters in Ortigas, Vice Ganda (born Jose Marie Viceral) appeared in an orange mermaid dress. On Shopee’s official Facebook page, they had earlier hinted at the host’s endorsement deal with a silhouette of a crowned person holding a horse-shaped scepter (the host’s Twitter bio describes Vice Ganda as “Supermodel turned actress turned horse”).

Asked what they last bought on Shopee, Vice Ganda said, “False eyelashes, saka (and also) contact lenses.”

The performer uses a lot of false eyelashes: “Hindi ako maka-awra nang hindi patong-patong ang pilikmata ko. Nakaubos ako agad ng isang banig ng pilikmata, kaya buti na lang, ang daming pilikmata na available sa Shopee (I can’t go out without my eyelashes one on top of the other. I go through a whole pack of eyelashes, so it’s great that there are a lot of eyelashes available on Shopee).”

As the -ber months announce the approach of Christmas (in the Philippines, at least), Vice Ganda was asked at a group interview about their own Christmas shopping habits. “Lagi akong last-minute shopping. May listahan naman ako ng mga kailangan kong bigyan. Diba meron kayong kakilala na ’pag ’di mo nabigyan, at saka bihira mo lang bigyan, kaya gusto mong bigyan sa mga panahon na ’yon (I’m always last-minute shopping. I do have a list of people I need to give gifts to. Don’t you know someone to whom you don’t often give gifts, so you want to give them something during the season)?”

The comedian’s staff get the list and complete it for them. “Nahahanap nila sa Shopee (they find it on Shopee),” the new endorser of the platform avowed. “Iyong iba ako iyong personal na bumibili. Nagpupunta ako sa mall. Dec. 24! Dec. 24, nasa mall ako, bago mag-Noche Buena (The others, I buy them personally. I go to the mall. On Dec. 24! On Dec. 24, I’m at the mall, before Christmas dinner).”

The long-time host of the noontime show It’s Showtime is an impulse shopper. “Yeah. I don’t have the luxury of time… bihira lang ako lumabas at makapag-shopping. Kapag nakita ko na, bibilhin ko na kasi hindi ko na alam kung kailan ko siya makikita ulit (I don’t go out often to shop. When I see something, I buy it, because I don’t know when I’ll see it again).”

“She’s got the personality, she’s got the wit,” Martin Yu, Head of Business Intelligence for Shopee Philippines, told BusinessWorld about the platform’s choice of Vice Ganda.  “It’s just a lot of energy. You can tell, even from here… she’ll bring her joy, she’ll bring her delight all the way for the platform and the customers.”

Shopee has also partnered with the League of Provinces of the Philippines, said Mr. Yu during the launch. This collaboration aims to support and accelerate the digitization of Micro, Small, and Medium Enterprises (MSMEs) across the country. He recalled previous activities with the same aim, such as an e-commerce workshop in Cebu in partnership with the Department of Trade and Industry (DTI) and PLDT. He also discussed their corporate social responsibility (CSR) efforts with Shopee Bayanihan, where the company donated P5 million worth of goods for calamity relief.

In previous years, especially during the pandemic, Mr. Yu had announced that there had been an increase of online shoppers in the Philippines. “The 2021 Global Web Index Market Snapshot shows 51% of Filipinos now prefer to shop online, with a 31% growth observed in online spending on groceries and household goods and 36% increase on medicine and healthcare needs,” he said at one point. With the world reopening and the world going back to its old habits, does this affect how Filipinos have taken up online shopping?  “I don’t think that’s caused a concern for us,” Mr. Yu told BusinessWorld. “There (are) a lot of people who are still very, very excited with shopping online. It has its own merits. There are some issues of traffic in the country, and I do think we cater on the wide assortment that we have on the platform.”

On the 9.9 Super Shopping Day, shoppers can avail free shipping on all their purchases with no minimum spending required. Brands like Unilever Beauty and Belo, and a wide assortment of fashion items will be priced at P99 and below. Users can expect discounts from brands like Vice Cosmetics, Mikana, Shigetsu, Inspi, Penshoppe, OXGN, Regatta, Havaianas, Bench, Keds, and Crocs. — Joseph L. Garcia

Rice imports down 42% on higher international prices

BW FILE PHOTO

THE PHILIPPINES imported 2.19 million metric tons (MT) of rice in the year to date, down 42.8% from a year earlier due to higher international rice prices, the Bureau of Plant Industry (BPI) said.

The BPI said rice imports in August up to Aug. 24 fell 56.4% year on year to 188,933.9 MT.

Federation of Free Farmers National Manager Raul Q. Montemayor said that rice importers were greatly affected by the higher market prices.

“It has become too expensive and risky for some importers to bring in rice specially after the India export ban,” Mr. Montemayor said in a Viber message.

Ateneo de Manila economics professor Leonardo A. Lanzona said in a Messenger chat that the rice export curbs by Vietnam have also affected rice imports.

“As a result, world rice prices have increased, thus resulting in lower imports,” Mr. Lanzona said.

India announced in July that it had imposed an immediate ban on exports of non-basmati white rice to ensures domestic availability of the commodity.

Vietnam also announced that by 2033 it plans to reduce rice exports to four million tons a year.

In the year to date, Vietnam remained the Philippines’ top source of rice, shipping 1.97 million MT or 91.2% of total Philippine imports.

Thailand and Myanmar shipped 90,459 MT and 85,545 MT, respectively.

Rice imports from India hit 13,187.39 MT in the year to date, equivalent to 0.6% of the total.

The Department of Agriculture’s price monitors placed the price of domestic well-milled rice on Aug. 24 at between P45 and P57, while regular-milled rice was selling for P41 to P55.

Imported well-milled rice was selling in Metro Manila markets at between P46 and P52. The Philippines does not import regular-milled rice. — Adrian H. Halili

Style (08/28/23)

Rustan’s Beauty Addict Event marks Beauty Hall opening

ON SEPT. 7, Rustan’s The Beauty Source presents the annual Beauty Addict Event, to be held in its newly revitalized Beauty Hall. Participating brands — Chanel, Clarins, La Prairie, Anastasia Beverly Hills, Tom Ford, MAC, La Mer, Clé de Peau Beauté, Shiseido, Hermes, Diptyque, Maison Francis Kurkdjian, L’Occitane, Grown Alchemist, Malin+Goetz, and L:a Bruket, among others — can literally be seen under a new light during the event. Interested parties may register for the Beauty Addict Event at bit.ly/RTBS-SeeingBeautyInANewLight. During the launch, there will be cocktails, roving interviewers, and photo opportunities with the Glam Bot, a high-definition, slow-motion camera that will highlight the guests’ beauty looks and styles up close. Guests can explore the new Beauty Hall and enjoy special offers, activities, and games from their favorite beauty brands during the event. There will be light installations and LED screens at the Beauty Hall. The Beauty Hall will be officially launched through a ribbon-cutting ceremony with Rustan’s executives followed by a dramatic reveal featuring the Halili Dance Group. Afterward, guests will be treated to a special performance alongside the Manila String Machine Orchestra together with Bea Tantoco. Capping off the night is an afterparty featuring live music by Renee Dominique and top DJs. The champagne bar is sponsored by Philippine Wine Merchants. Gourmet hors d’oeuvres will be catered by Margarita Fores. On Sept. 7 participating beauty brands will be offering one-day promos from midnight to 11:59 p.m. This applies to all Rustan’s stores, Personal Shopper On Call, and Rustans.com. Metrobank credit card holders who are also Rustan’s Beauty Addict Members, will get an additional P1,000 off on top of the existing Beauty Addict Event day promotions for a minimum purchase of P10,000. During the event, the first 100 guests to arrive at Rustan’s Beauty Hall will receive a two-sided Beauty LED Compact Mirror featuring a regular mirror, a magnified mirror, and LED lights that mimic sunlight. Guests who post their selfies on their socials during the event will also have the chance to win the “Best Selfie Award.” Each will receive a P10,000 shopping spree at Rustan’s The Beauty Source. Meanwhile,  from Sept. 8 to 17, participating Rustan’s beauty brands will have another promo applicable to all Rustan’s stores, Personal Shopper On Call, and Rustans.com. Plus, from Sept. 1 to Nov. 30, Rustan’s will offer the Beauty Addict Holiday Gift With Purchase. For a minimum receipt purchase of P30,000, Beauty Addict members are entitled to a complimentary Make It Pop Floral Jewelry Box from Kate Spade New York. Running simultaneously is the Beauty Addict Holiday Raffle. The grand prize winner will get a three-night stay for two at an exclusive hotel in Paris, France inclusive of Singapore Airlines KrisFlyer miles, redeemable for a Business Class Saver Award ticket to Paris, France. For every purchase of P2,500 worth of products and services from Rustan’s The Beauty Source, Beauty Addict and KrisFlyer members are entitled to one electronic raffle entry, while Metrobank cardholders, who are also Beauty Addict and KrisFlyer members, are entitled to two electronic raffle entries when they shop until Nov. 30.

Magnitude 9.9 Super Sale at the Paseo Outlets

THE PASEO Outlets at Greenfield City is gearing up for the Magnitude 9.9 Super Sale on Sept. 8 to10. Discounts can be as large as 70% off, with discounts on top of discounts on already on-sale items. Among the participating brands are 158 Designer Blvd. (buy two sale items, get an additional 10% off from Tommy Hilfiger), American Eagle Outfitters Outlet (buy 1 get 1), Bench Depot (Cotton On, Call it Spring, Kashieca, La Senza, and Pedro), BrandSmart, Crocs Outlet, Levi’s Factory Outlet, Marks & Spencers (buy two or more, get 20% off), along with sportswear and shoe brands Under Armour, Merrell, No Fear, Oakley Vault Saucony, and Skechers, adidas, Puma (Buy 2, Get 3), the Nike Factory Store, and Park Outlet (up to 70% off on Nike, Jordan, Puma, New Balance, Converse, Havaianas). Don’t miss multibrand stores The Outlet with Banana Republic, Gap, and Old Navy, Fusion (up to 70% off on Merrel, Keds, Sperry) Time Collection Outlet Store and USDS Outlet. At F&F, get Calvin Klein items at up to 50% off. The Paseo Outlets is located along Tagaytay Balibago Rd., Greenfield City, Sta. Rosa, Laguna.

Uniqlo collaborates with KAWS on T-shirts and more

UNIQLO will simultaneously launch the definitive book on the renowned contemporary artist KAWS, and a new UT T-Shirt collaboration collection with the artist, on Sept. 8. Both the new UT collection and the art book — launched exclusively with Uniqlo and publisher Phaidon — will be available at Uniqlo stores globally and through uniqlo.com. Designs in the collection of T-shirts and sweatshirts will feature KAWS’ signature COMPANION and BFF characters (the latter in bright pink), the cover of the new book, as well as the artist’s iconic XX motif. Items will be available in adults’ (unisex) and kids’ sizes. Additionally, Uniqlo will also offer a range of limited-edition gifts for customers purchasing the art book and UT collection. To celebrate the collaboration, some of the largest Uniqlo stores around the globe will be wrapped in designs featuring KAWS’ characters. The three adults T-shirt designs (P790), two adults sweatshirt designs (P1,490), three kids T-shirt designs (P590), two kids sweatshirt designs (P990), and the KAWS Art Book (P3,490) will be available at Uniqlo stores around the Philippines and uniqlo.com. The kids’ items only available at stores with kids’ sections, as well as on UNIQLO.com Special site: https://www.uniqlo.com/ph/en/contents/feature/kawsut2023/

Old Navy holds pants sale

OLD Navy will be holding the Very Important Pants sale from Sept. 15 to 17, with a Buy 1, Get 1 Jeans and Long Pants offer and 40% off on two or more regular-priced items. Old Navy VIPs can enjoy the same Buy 1, Get 1 offer and 50% off on regular-priced items during the VIP preview starting Sept. 11 to 17 at Old Navy Shangri-la, Bonifacio High Street or oldnavy.com.ph. Old Navy’s bestselling women’s jeans use innovative technology that features the Never-Quit Shape Retention and the latest stretch fabric making it easy to move in without bagging or sagging at the end of the day. There will be extra high-waisted wide-leg trouser jeans (online exclusive), high-waisted jeans, 1990s-inspired baggy wide-leg non-stretch jeans, and mom jeans, to ripped jeans and acid-wash jeans. There are also non-stretch jeans for women, made from 100% cotton. For men there are the classics: straight jeans, as well as fashion-forward baggy, loose, and slim jeans, crafted with high-quality denim that offers both durability and comfort. Most feature 360° super stretch tech for maximum comfort. There are also jeans for girls and boys. Old Navy makes its jeans eco-friendlier as well, using more recycled cotton and less water in the production process to create jeans that are more sustainable. Aside from classic styles, like chino pants to trendy joggers, and cargo pants, Old Navy has athletic pants and powersoft legging for yoga, workouts, and at the gym.

Michael Cinco to hold Metaverse Fashion Gala

INTERNATIONALLY renowned Filipino fashion designer Michael Cinco will bring his couture to Philippine Blockchain Week (PBW) in the country’s first-ever Metaverse Fashion Gala. Taking place on Sept. 18 at the Marriott Grand Ballroom, Newport World Resorts Manila, the event will redefine how audiences see digital fashion. “Fashion has always been about redefining barriers, and right now, there’s no bigger barrier than taking what’s physical into the digital,” said Mr. Cinco in a statement. “I’m excited to be partnering with PBW and even more excited for everyone to see what we have planned.” At the Gala, collectors will see a showcase of signature Cinco pieces, while the runway models’ avatars will be shown wearing the same outfits in the Metaverse. Fashion collectors will be invited to take home their favorite pieces, which will be made available for purchase through an exclusive pre-sale, which — in addition to the actual gowns — will come with special edition digital collectibles. PBW delegates will be treated to an exhibit of Michael Cinco gowns, which will be exhibited throughout the PBW venue. Part of the proceeds from the Michael Cinco Metaverse Fashion Gala will benefit the World Wildlife Fund for the conservation of endangered species, and the Global Reskilling Movement, an international initiative devoted to providing better opportunities for the youth. Tickets for the Michael Cinco Metaverse Fashion Gala, which include pre-show cocktails and a five-course dinner are on sale now. For reservations or more information, visit pbw.ph/mc or e-mail info@pbw.ph.

Red Charity Gala is back with Ivarluski Aseron

AFTER a three-year hiatus due to the pandemic, the fashion and charity event, the Red Charity Gala, returns on Oct. 8 at The Peninsula Manila. It will feature designer Ivarluski Aseron. Launched in 2009 by philanthropists and socialites Tessa Prieto and Kaye Tinga, the Red Charity Gala was organized to benefit The Philippine Red Cross, a non-profit humanitarian organization, and the Assumption HS81 Foundation, among other chosen beneficiaries. Every year, the Red Charity Gala features collections from famed local fashion designers such as Rajo Laurel, Joey Samson, Chito Vijandre, Lesley Mobo, Jojie Lloren, Ezra Santos, Cary Santiago, Michael Cinco, Furne One and Dennis Lustico. This year, it turns the spotlight on Ivarluski Aseron. In his latest collection, he paid homage to the Philippine culture with his modern takes on the Filipiniana incorporating the basket weaving technique typical of the banig. The designer has gained numerous accolades including Fashion Designer of the Year for Evening Wear at the Mega Fashion Awards 2008 and Revolutionary Designer of the Year at MTV 2004. He has participated in many local and international fashion weeks including Bali Fashion Week in 2007, Kuala Lumpur Fashion Week in 2005/2007 and Philippine Fashion Week from 2002 to 2005. For this year’s Red Charity Gala, Mr. Aseron’s collection will center on the theme “A Memoir in Motion.” For updates, follow Red Charity Gala on Instagram (@redcharitygala) and contact Maggie Gineta at 0917-832-5570 for other information.

BTS’ Suga, Mitchell & Ness collaborate on NBA collection

THE NATIONAL Basketball Association (NBA) and Mitchell & Ness have announced a new NBA capsule collection in collaboration with NBA Ambassador and BTS star Suga. The South Korean rapper, songwriter, and producer provided extensive creative input on the apparel line, which features NBA team-branded T-shirts, hoodies, jackets, shorts, and headwear across six NBA teams: the Brooklyn Nets, Chicago Bulls, Golden State Warriors, LA Clippers, Los Angeles Lakers and New York Knicks. The teams were selected based on the US cities where Suga performed as part of his recent solo world tour SUGA | Agust D TOUR ‘D-DAY’. The new SUGA x NBA capsule collection by Mitchell & Ness is marked with Suga’s Agust D moniker to signify his relationship with the NBA and also incorporates several design motifs inspired by his album D-DAY. The collection will be available in the coming weeks through select brick-and-mortar and online NBA Stores, Mitchell & Ness stores, and the Weverse Shop. Interested parties can visit www.nba.com/SUGAxNBA to register their interest with an NBA ID and gain access to early purchase information.

Adidas introduces Switch Fwd

ADIDAS has released its latest running shoe, Switch Fwd, constructed using cutting-edge design processes. The shoe’s engine — the EVA compound midsole — features intricately designed voids that collapse and spring forward, converting weight into forward motion, unlocking the potential of athletes of all levels by moving them forward with every stride. The result is a smooth-running experience that’s unique to forward technology-fueled running shoes. The soft EVA compound midsole, working in unison with the TPU plate, ensures a stable and cushioned transition through the forefoot and midfoot during the forward motion process. Additional features of the new Switch Fwd include a lightweight Continental outsole, which gives runners extra grip in all weather conditions; and a lightweight engineered mesh upper, which features strategically placed windows on the forefoot and midfoot for enhanced breathability. The shoe launches in a primary white and silver-violet colorway with lucid lemon detailing for women, and a primary white and wonder blue colorway for men with lucid lemon accents. The Switch Fwd is priced at P8,500, and is available via the adidas app, online https://www.adidas.com.ph/running and in stores.

Ever Bilena launches Matte K-Beauty collection

TO HELP fans achieve a K-inspired look, Ever Bilena has launched its newest Matte K-Beauty collection lipsticks. The lipsticks come in a lightweight formula and are infused with sunscreen filter and vitamin E for moisturized and protected lips. This matte K-Beauty collection quickly delivers vivid pigmented colors in just a few swipes. It features six colors inspired by trendy Korean shades: Daily Coral (similar to Etude Fixing Tint in BT21 RJ), Auburn Delight, the Paradise Nude, Maple Candy, Sweet Pea (a deep muted pink with a cool undertone), and Marshmallow Berry (similar to Peripera Ink Velvet in 28 Mauveful Nude, a cool-toned purple nude lip shade). The newest Ever Bilena Matte K-Beauty collection is available for P225 per lipstick. Ever Bilena products can be purchased on their official Shopee and Lazada stores, Watsons branches nationwide, and all leading department stores nationwide.

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