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AMRO trims 2023 PHL growth outlook

PHILIPPINE STAR/EDD GUMBAN

PHILIPPINE gross domestic product (GDP) growth is likely to fall slightly below the government’s target this year, the ASEAN+3 Macroeconomic Research Office (AMRO) said.

“The Philippines’ economic growth is projected to moderate to 5.9% in 2023 due to high base effects and weaker external demand, before edging up to 6.5% in 2024 as external demand recovers,” AMRO Group Head and Principal Economist Runchana Pongsaparn said in a statement on Tuesday.

Mr. Pongsaparn was part of the AMRO team that visited Manila from Aug. 29 to Sept. 8. for its annual consultation.

“Meanwhile, domestic demand is expected to remain robust supported by continued improvement in labor market conditions, lower inflation, robust overseas remittances, and higher government infrastructure spending,” he said.

The think tank’s latest 2023 GDP forecast is lower than the 6.2% it gave in its Regional Economic Outlook Report in July. It also falls below the government’s 6-7% GDP target.

AMRO kept its Philippine growth forecast for 2024 unchanged at 6.5% amid an expected recovery in external demand. This is at the lower end of the government’s 6.5-8% target for next year.

The think tank noted the Philippine economy continued to show strong growth momentum in the first half of 2023. Philippine GDP expanded by a weaker-than-expected 4.3% in the second quarter, bringing the first semester growth to 5.3%.

“Growth was supported by resilient domestic demand with a strong recovery in the labor market despite weaker external demand. Notwithstanding a widening current account deficit, external position remains sound with sufficient international reserve buffer and low external debt,” AMRO said.

AMRO also said Philippine full-year inflation will likely settle at 5.5% this year before slowing further to 3.8% in 2024.

“Despite some moderation, inflationary pressure will likely remain elevated as reflected in the high level of core inflation, due to a positive output gap and the second-round effects induced by increases in the minimum wages and expectations of persistently high inflation,” it added.

Meanwhile, AMRO flagged risks to the Philippines’ growth outlook such as elevated inflation, local supply shocks, an economic slowdown in major trading partners and global financial market volatility.

“The long-term growth potential is largely affected by the scarring effects of the pandemic, the pace of infrastructure development, geopolitical risks, and the economic losses from natural disasters, which are being exacerbated by climate change,” it said.

Among AMRO’s policy recommendations to boost growth include upskilling the workforce, implementation of policies to attract investments and promote exports of goods and services. The government can also improve the Philippines’ competitiveness through infrastructure investment and digitalization, it added.

For the medium and long term, AMRO said “fiscal policy should balance between restoring fiscal buffer and supporting sustainable growth and development.”

The think tank said close coordination between regulators will be crucial in identifying and mitigating financial stability risks that may arise from nonfinancial firms.

“Meanwhile, the authorities should continue to improve the liquidity management framework, develop the bond and repo markets, and continue to expand financial inclusion, to enhance the system’s resilience to shocks and promote market activities,” it added. — Luisa Maria Jacinta C. Jocson

Central bank ready to act as price pressures persist

The central bank slightly raised its average inflation forecast for 2023 to 5.6% from 5.4% previously. — PHILIPPINE STAR/MIGUEL DE GUZMAN

THE BANGKO SENTRAL ng Pilipinas (BSP) stands ready to act as necessary to address any risk to inflation, which is still seen to fall within the 2-4% target range by fourth quarter this year, an official said.

BSP Deputy Governor Francisco G. Dakila, Jr. said inflation will fall within the 2-4% target range in the fourth quarter, barring unprecedented supply shocks. 

“Nevertheless, we continue to see that the risks to the inflation outlook have remained tilted towards the upside both for this year and for next year,” he said during the Philippine Economic Briefing in Dubai on Tuesday.

“The BSP remains ready to respond as necessary to any risks that threaten the achievement of the inflation target.”

Inflation accelerated for the first time in seven months in August, as food and transport costs surged. Inflation rose to 5.3% in August, marking the 17th consecutive month that inflation surpassed the BSP’s 2-4% target.

For the January-to-August period, inflation averaged 6.6%, still above the central bank’s 5.6% full-year forecast.

Mr. Dakila said August inflation was largely due to weather-related disturbances in the country, which drove up the prices of food items such as rice, vegetables, and fish.

“In the absence of further supply shocks, risks continue to lean towards the upside over the near term. Hence, the case for vigilance remains,” he said.

Mr. Dakila said the BSP would like to see inflation go back to within the 2-4% target band before any policy easing is considered due to the need to anchor inflation expectations.

The Monetary Board has paused for a third straight meeting in August, keeping its key policy rate at a near-16 year high 6.25%. From May 2022 to March 2023, the central bank hiked benchmark interest rates by 425 basis points (bps).

“On the BSP’s part, the Monetary Board is set to convene and decide on the policy stance next week, on Sept. 21. As always, our focus remains on ensuring price stability conducive to sustainable and non-inflationary growth,” Mr. Dakila, adding that it will also take into consideration the US Federal Reserve’s next move.

However, Mr. Dakila noted that “the situation is now very different compared from where we were last year, when inflation is still in an upward trajectory.”

“Right now, the focus of the Monetary Board will be on domestic situations. The impact of external factors will be less compared to last year,” he said, adding that the peso has stabilized this year.

The Fed’s next meeting is on Sept. 19 to 20. It hiked borrowing costs by 25 bps at its meeting in July, bringing the Fed funds rate to 5.25-5.5% — its highest level in 22 years. — Keisha B. Ta-asan

BoI-approved investments hit P800 billion

PHILIPPINE STAR/MICHAEL VARCAS

THE BOARD of Investments (BoI) has already approved P800 billion worth of investments as of early September, surpassing last year’s level, Trade Secretary Alfredo E. Pascual said.

Mr. Pascual told reporters on Monday that the BoI’s year-to-date investment approvals have already exceeded the P729 billion in investments it greenlit in 2022.

The Trade chief said the BoI appears to be on track to reach its revised P1.5-trillion full-year target.

“I am confident that this target could be achieved. There is even a possibility that it could be surpassed,” he told reporters in mixed English and Filipino.

The BoI raised its target for investment approvals this year by 50% to P1.5 trillion from the original P1 trillion.

Mr. Pascual had also said the Philippines is aiming to be a top-two destination within the Association of Southeast Asian Nations for foreign direct investments.

“But the more immediate and reliable barometer is the entry of investments in the BoI,” he said. — J.I.D. Tabile

Objects of antiquity unveiled to the public

EDWIN BAUTISTA points out his favorites from the Philippine map section. — BRONTË H. LACSAMANA

An exhibit of a banker’s treasures launches Salcedo Auctions’ series of private art collections

FOR Edwin R. Bautista, the president and chief executive officer of UnionBank, anticipating the future is a priority. His job entails making decisions based on changing interest rates, economic growth, and the trajectory of banking amid the digital transformation.

But lining the hallways of his home and, more recently, in the exhibition space of Salcedo Auctions, is a vast array of battle-captured Philippine flags, indigenous and Katipunan-related armaments, and wood, ivory, and silver statues of saints made by local artisans — proof that he is just as concerned with the country’s past as he is with the future.

Among this varied collection is a trove of pre-colonial gold jewelry from Butuan and Samar, which are traces of a lavish lifestyle before the arrival of the Spaniards (and even before the concept of the Philippines arose). These particular objects of antiquity in the collection are prized, not just by Mr. Bautista, but by his wife Aileen, who beams with pride at the thought of Filipinos today realizing how rich their ancestors were.

The image many people have of an art or artefact collector is of a selfish greedy snob who cares mainly about the investment value of their possessions and the sense of prestige that comes with it. As passionate collectors, the Bautistas could not be further away from that caricature.

They like to share their collection with others. For example, many of the weapons in the collection were previously exhibited at the Museo ng Kaalamang Katutubo. This time, having them displayed at Salcedo Auctions in conjunction with the rest of the extensive Bautista collection is an overwhelming yet fascinating crash course in Philippine history.

Curated by director and art enthusiast Floy Quintos, the assortment of artefacts was organized to present many narratives of Filipino nationhood, as dense and varied as they are. It’s a big task that resulted in an exhibition that deserves to be seen by many beyond its one-weekend run at the start of September. For now, it has opened a Pandora’s box — with Salcedo Auctions taking on a new role, of unveiling private collectors’ prized possessions to the public.

“These are not just investments. These are about the learnings,” Mr. Bautista says, as he showed the guests his archive of rare maps hanging on the walls and tracing the emergence of the Philippines on the world stage from one old relic to another. Of great interest was a map from 1563, believed to be the first to mention the word “Filipinas,” hence regarded as the country’s birth certificate.

There was also ecclesiastical art, ranging from majestic santos to intricately painted retablos that represent Filipinos’ unwavering Catholic devotion. On the other hand, there was a subsection dedicated to anting-antings and mamarrachos, which are folk artefacts and icons that counter typical religious expressions with unorthodox portrayals of holy persons — a form of resistance by local artisans.

Seeing the creation of folk mythology at play was the highlight of that section, with talismanic flags, small amulets, and vests drawn over with hybrid gods and Latin phrases taking center stage. They give a glimpse of how revolutionary Filipinos mixed their own indigenous beliefs with elements of Catholicism.

Mrs. Bautista’s part of the collection exhibited splendor and told its own story, with wearables like necklaces, rings, headbands, and even death masks, all made of gold. While her husband has hunted for antiques since early adulthood, her interest in it developed gradually, starting with dismay at him bringing home so many relics to store in the house then later developing into love for pre-colonial craftsmanship.

For her, the gold jewelry symbolizes the wealth of the Filipino that existed long before the arrival of Europeans. “We were so rich in gold that we traded it with the Chinese for plates,” she tells everyone who marvels at their beauty.

Mr. Bautista’s small collection of swords and bladed weapons — just a few out of about a thousand which he donated to a local museum — is another example of important items long forgotten.

“These are rare because they were taken as war trophies by Spanish and American soldiers. I had to acquire them, to repatriate them, to be appreciated by Filipinos,” he says.

The exhibit of the Bautista collection is just the first of many in a series called “Private Art, Public Lives,” a new program of Salcedo Auctions’ gallery and exhibition arm. Through the series, many more private collectors will have the chance to give back by sharing what they have. This allows both the collectors and the exhibitors and curators to “breathe new life into old items and infuse them with meaning, so that more people may learn from them,” in Mrs. Bautista’s hopeful words.

The exhibition of their collection may have been too short-lived for this goal, as more than one visit would have been needed to give this fascinating myriad of objects the attention it deserved, but, as per Mr. Bautista, this is definitely not the last time that they will share a selection of their vast assortment of artefacts with the public.

“Once you see the underlying psyche, the soul of the Filipino, my conclusion is that, with all the external influences and manifestations, we have truly changed,” he said. “But we have still kept our soul as a nation.” — Brontë H. Lacsamana

First Gen takes first shipment of imported LNG, eyes second 

FIRSTGEN.COM.PH

By Revin Mikhael D. Ochave, Reporter

LOPEZ-led First Gen Corp. received the first delivery of imported liquefied natural gas (LNG) last month, said its president, who is now considering a second shipment.

“We’ve already imported the first shipment of LNG. It is already here. It came last month,” First Gen President and Chief Operating Officer Francis Giles B. Puno said in an interview on the sidelines of the Management Association of the Philippines’ International CEO Conference in Taguig City on Tuesday.

He said the shipment was meant for the commissioning of the company’s interim offshore LNG terminal project to ensure that “everything is working.”

“It will be to make sure that the system is working. It also shows that the fuel works with respect to the existing power plants. What is happening is that we are running on Malampaya gas and then we also have to run on LNG, or a combination of the two. That is the important part — commissioning,” he added. 

In July, First Gen said an LNG carrier would be in charge of transporting 154,500 cubic meters of LNG as well as the gassing up and cooling down of the BW Batangas floating storage regasification unit (FSRU) at Subic Bay before the cargo’s transfer into storage tanks on board.

The BW Batangas is the FSRU of First Gen unit FGEN LNG Corp. and BW LNG, its Norwegian partner. The vessel will provide LNG storage and regasification services to First Gen’s current and planned gas-fired power plants and third-party terminal users.

After the LNG transfer into the storage tanks, the BW Batangas will then return to FGEN LNG’s terminal in Batangas, thus completing the commissioning activities.

The imported LNG will be used to power First Gen’s natural gas plants — San Lorenzo, San Gabriel, Santa Rita and Avion — with a combined capacity of 2,017 megawatts.

The four gas-fired facilities, which supply a fifth of the country’s power requirements, depend on the Malampaya gas field situated offshore northwest Palawan, which has seen dwindling supply in the past few years.

LNG is touted as a solution to the country’s power needs amid a looming power crisis with the expected depletion of the Malampaya field, the country’s only indigenous source of natural gas.

According to Mr. Puno, First Gen has yet to secure a long-term contract for imported LNG supply. 

“None yet. At least, the international suppliers will be aware of First Gen,” he said.

Mr. Puno added that there is no timetable yet for securing a longer-term commitment, which he said would provide “cheaper power for consumers.”

“We are seeking to address that issue, a long-term contract,” he said. 

“We already bought the first shipment. Likely, we will buy a second shipment as well. It is not yet a long-term arrangement,” Mr. Puno said.

“The question is how we will transition from spot cargo to long-term. That will depend on the market if the market will accept the longer-term commitment,” he added.

Meanwhile, Mr. Puno said there is no update yet on the previously announced collaboration between First Gen and Prime Infrastructure Holdings, Inc. to develop a gas aggregation framework. 

“None yet. That is still a work in progress,” he said.

In July, First Gen said the gas aggregation framework seeks to “make it possible to blend currently declining volumes of indigenous Malampaya gas with imported LNG” as well as complement ongoing commercial development of new indigenous natural gas fields.”

On Tuesday, shares of First Gen dropped 14 centavos or 0.71% to close at P19.50 apiece.

Jon Santos and Jenny Jamora restage Bawat Bonggang Bagay

JON SANTOS

By Giselle P. Kasilag

A UBIQUITOUS Filipino dessert, comedian Jon Santos confessed to BusinessWorld, is at the top of his list of brilliant things. But to find out what it is, he is inviting everyone of come and see the restaging of Bawat Bonggang Bagay — the Filipino translation of Duncan Macmillan’s play Every Brilliant Thing.

Indeed, he has found himself indulging in that dessert as the opening night draws near. He is nervous but clearly very excited. And in the eyes of director Jenny Jamora, Mr. Santos is definitely ready. After all, one person on stage engaging an audience for over an hour is really what one would expect from a Jon Santos theatrical performance. His decades-long career as a stand-up comedian is exactly like that. But Bawat Bonggang Bagay is anything but a typical Jon Santos show. Indeed, play is not typical in any way at all.

Every Brilliant Thing is a one-person play featuring a narrator sharing childhood experiences coping with a parent’s depression and suicide attempts by listing “brilliant things.” It is an interactive production with members of the audience expected to participate in the show.

It was first staged in the Philippines by The Sandbox Collective in 2019 and again in 2020 with Teresa Herrera and Kakki Teodoro alternating as the lead character. The company brought it back a third time last June, with both actresses returning for the company’s first post COVID pandemic production. But they also offered a twist. A Filipino version premiered with Mr. Santos as the lead.

Ms. Jamora explained that The Sandbox Collective’s managing artistic director Toff De Venecia saw an opportunity to have the piece translated after receiving requests and encouragement from peers to do so. The material had already been translated to Hebrew, Mandarin, and Arabic. It made sense to come up with a Filipino version.

“It is written in the published version that the production should adapt it to where they are. Whatever can be done to bring the story closer to you, you can do. The safeguard is, they have to approve the translator,” she said in a mix of English and Filipino, adding that award-winning playwright Guelan Luarca was an easy choice for the translation, along with Mr. Santos whom she revealed was the first name to come up when casting was considered.

The process of taking the translated material and making it ready for the stage, however, was far from easy. Every tweak they make has repercussions on the time line and the character’s history. But the challenges were worth it.

“I am a native English speaker but, always, anything in Filipino speaks to something in the depths of my soul as a Filipino more immediately. So it’s the same with this material. There is a layer lost in the distance. My spirit came closer to the story all the more,” the director explained.

“The actors are my resource. In Every Brilliant Thing, they are alone. They are actor, set, chorus, ensemble, prop! So I parse out their strengths and work with that. For this shows, it’s like molding a piece of clay. I don’t try to hammer out just one form. So if you watch Teresa, it’s very different. If you watch Kakkie’s show, it’s very different. Jon is also very different,” she continued.

While the idea of a translated Every Brilliant Thing generated much excitement, receiving the script and performing it for the first time saw Mr. Santos digging deep into his theater roots.

“It is said that a manual on How to Act does not contain much. It’s just that each one of those few things, you have to learn hundreds of times over and over and over,” he said.

“You listen for that thing that stirs your inner crazy. You look and listen and you’ll find that there are things to see and hear from the character that would intrigue you. So, I find the connection with the character. So, I found it and I deepened it by consulting with my director for a character bible and music landscape. I [the character] have a birthday. I have a zodiac sign. In my head there are certain things that made my mom behave like that. And there were certain decisions my dad made that got that into that stalemate all these years. So there is that kind of world-building.”

He also found inspiration in films such as Little Miss Sunshine, Ordinary People, and Spoiler Alert. Music was equally important in setting the stage for the different moments of his character’s life. He drew heavily on different acting devices to help him create the character.

Indeed, the outcome was a happy surprise when the curtains rose on the first staging of Bawat Bonggang Bagay. The applause was deafening. Later on, a member of the audience approached Mr. Santos and told him that he felt he was seen. Many have shared that they have started their own lists of brilliant things.

“The purpose of the material is to talk about something that is usually difficult to talk about but in a more accessible and less dark way,” said Ms. Jamora. “That is why it is good too when you get the opportunity to use comedy as the device for a topic that is so severe, serious and heavy,” Mr. Santos chimed in.

They both recognize the vulnerability of the situation, both for the actor and the audience watching. Thus, they have taken great care in creating a safe space for all. Ms. Jamora credits The Sandbox Collective’s marketing and PR team for crafting appropriate content warnings and disseminating the information so that people watching are forewarned about the content. Truly, discussions about mental health have come a long way and these measures aid in encouraging conversations without fear or judgment.

“We hope that the play does not do more or less than it should,” said Mr. Santos.

Bawat Bonggang Bagay clearly resonated with the local audience, so much that it merited a restaging so soon. The job now is to continue exploring the character and the material.

“I want for the audience to come in as their authentic selves,” said Mr. Jamora, “and leave feeling more that they can be more themselves than they ever have been.”

Bawat Bonggang Bagay will run at the Zobel de Ayala Recital Hall, Maybank Performing Arts Theater, 9th Ave. cor. 26th St., BGC, Taguig City from Sept. 15 to 24. Tickets will be available through Ticketworld or through The Sandbox Collective at 0917-152-5560.

Maynilad allots P3 billion to upgrade 17 sewage treatment plants by 2027

MAYNILAD Water Services, Inc. is setting aside at least P3 billion to upgrade 17 of its existing 22 sewage treatment plants (STPs) by 2027 to conform to water and wastewater quality guidelines.

In an e-mailed media release, the west zone water concessionaire said it would add treatment processes “to enhance nutrient-removal capability” that will meet the revised effluent standards set by the Department of Environment and Natural Resources (DENR).

Under a department administrative order (DAO) released in 2021, the DENR updated the water quality guidelines for selected parameters based on the current classification of water bodies and their beneficial use.

Effluent standards have also been updated for selected parameters based on the perceived impact on the activities in the area and on the environment.

“By 2027, all 22 existing wastewater treatment plants in the West Zone — which have a combined treatment capacity of around 684,707 cubic meters of wastewater per day — will be upgraded to conform to DAO 2021-19 standards,” the company said.

Maynilad said its Parañaque water reclamation facility — currently its biggest STP in terms of volume output — is already compliant with DAO 2021-19 standards.

The new STPs that the company plans to construct will already have the upgrades factored in their treatment capacity design, it said.

Maynilad said the investment is part of its P178-billion wastewater management spending plan from 2023 to 2046, which aims to expand sewer coverage and manage pollution loading in bodies of water.

The plan also includes the construction of 18 new STPs in different areas and the installation of around 360 kilometers of new sewer lines that will carry used water from households to STPs.

The company maintains and operates 20 STPs, two joint sewage and septage treatment plants, and one septage treatment plant that processes wastewater and sludge collected from customers before it is discharged to receiving bodies of water.

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

Switching up orchestral music for Filipino audiences

The PPO’s new musical director will promote local composers

NEARLY a year after conducting a Philippine Philharmonic Orchestra (PPO) concert as part of the orchestra’s performance season — which also served as a search for a new musical director/conductor — Grzegorz Nowak found himself back in the country and in charge. And he has many plans.

The Cultural Center of the Philippines (CCP) announced early in September that Mr. Nowak had been selected to be the new music director and principal conductor of the country’s leading orchestra.

“I found that the orchestra members are very good and responsive,” Mr. Nowak said of his time last year conducting the PPO. “As I raised my demands in every rehearsal, they would meet the challenge. It is very encouraging,” the Polish conductor said at a press conference introducing him to the public. “I think this orchestra has tremendous potential.”

His experience with the music landscape in the Philippines is admittedly limited, but the time he spent in October of last year motivated him to return.

Mr. Nowak said he conducted his first ever piece of Filipino music — by National Artist Lucio San Pedro — last year during the PPO concert. That concert also featured works by Peter Illich Tchaikovsky and Igor Stravinsky.

“I surveyed many works and I loved it. I enjoyed performing here very much,” he said.

As a sought-after conductor with a long career in opera and concerts, Mr. Nowak previously served as the principal associate conductor of the Royal Philharmonic Orchestra in London. He was also the music director of the Polish National Opera in Warsaw, Poland.

Given all his experience, he specified that the Philippines must prioritize its own artists and musicians.

PROMOTING LOCAL COMPOSERS
One of Mr. Nowak’s first ideas is to promote Filipino composers. By commissioning more original works, the Cultural Center of the Philippines (CCP) and the PPO could encourage young aspiring composers to pursue their passions.

“Every year we can introduce the position of ‘composer in residence.’ This person can write three works during the season for our orchestra,” he told the media.

He said that supporting a home-grown composer is one of the most effective ways a country can empower its people. Mr. Nowak told reporters that this happened around the time of World War II, citing Soviet-era Russian composer Dmitri Shostakovich as an example, among others. “There was heavy oppression during and after the war. The people used writing, arts, music to produce works that no one could suppress, and that’s how they freed themselves from oppression,” he said.

The PPO’s new music director also proposed a modern music festival, which will present both music from all over the world and Filipino music. It could have a competition for young Filipino composers, where the winner can be given a chance to perform his or her work during the festival.

“We need to give the artists freedom to express what they want. We should not restrain them with our own ideas,” said Mr. Nowak.

THE FUTURE OF ORCHESTRAL MUSIC
Freedom to express, teamwork among musicians, and connection with the audience are the reasons live concerts remain as exhilarating as ever, said Mr. Nowak.

“Nowadays, we have many recordings, but a recording, no matter how great it is, will never replace the feeling and excitement of a live concert,” he said.

Always full of stories to tell, Mr. Nowak shared his experience working with Kathleen Battle, the American operatic soprano known for her distinctive vocal range and tone.

“In that concert, she started out tense but then you could feel she was warming up and relaxing, and then she was the queen of the night,” he told reporters. “The reaction of performers, the soloist, the conductor, the orchestra, is dependent very much on the audience.”

For this reason, he believes that all forms of live music — be it operatic or symphonic — can never die out. The challenge for the CCP and the PPO would be to turn Filipino audiences on to that exhilarating feeling.

As the PPO’s principal conductor, his goal is to make it the best team of musicians there is. He likened an orchestra of amazing individual musicians without teamwork to a team of star athletes without teamwork.

“This orchestra has the potential to become a very good team, and that’s what I’m here for — that we work together to make this wonderful team into one of the world’s top orchestras,” he said.

39TH CONCERT SEASON
The PPO’s 39th concert season, titled Switch, refers not just to Mr. Nowak being the new conductor at the helm, but also to the orchestra’s switch from its usual venue — the theaters of the CCP’s main building, which is now undergoing an extensive and prolonged renovation — to the Samsung Performing Arts Theater in Circuit, Makati.

The first concert of the season will be Roman Carnival, on Sept. 15, featuring guest pianist Mark Bebbington. The PPO will perform Hector Berlioz’ Roman Carnival, Edvard Grieg’s Piano Concerto, op. 16, A minor, and Ottorino Respighi’s Pini di Roma.

Oct. 13 will be Italian Night, with a program featuring a commissioned Filipino work, Antonin Dvořák’s Cello Concerto, and Felix Mendelssohn’s Symphony no. 4, op. 90. Cellist Wen-Sinn Yang will be there as a guest performer.

Mr. Nowak and the PPO will then pay homage to the great musicians of Russia in the Russian Masters concert on Nov. 17. The program will include Peter Ilich Tchaikovsky’s Eugene Onegin: Polonaise, Sergei Rachmaninoff’s Piano Concerto no. 2, op. 18, C minor, and selections from Serge Prokofiev’s Romeo & Juliet. Pianist Nikolay Khozyainov will be the guest performer.

To usher in the holiday spirit, Ode to Joy on Dec. 8 will see the PPO perform Wolfgang Amadeus Mozart’s Piano Concerto no. 21, K 467, C major and Ludwig van Beethoven’s Symphony no. 9, op. 125, D minor. Filipino pianist and former CCP president Raul Sunico will perform with the PPO.

For the first concert of the new year, the PPO will perform another commissioned Filipino work, plus Johannes Brahms’s Piano Concerto no. 1, op. 15, D minor and Peter Ilich Tchaikovsky’s Symphony no. 4, op. 36, F minor. The concert on Jan. 12 will be called Fate and feature pianist Jerome Rose as soloist.

Celebrity pianist Krystian Zimerman will then take center stage in Piano Rapture on Feb. 9. On that day, Mr. Nowak will also conduct the PPO on Stanislaw Moniuszko’s The Fairy Tale Overture, Beethoven’s Piano Concerto no. 4, op. 58, G major, and Rachmaninoff’s Symphony no. 2 op. 27.

Don Pasquale, the penultimate concert of the season, focuses on the magic of opera, with a semi-staged opera performance of Gaetano Donizetti’s Don Pasquale on March 8.

The PPO’s 39th season shall culminate with its eighth concert, Fete Francaise, on April 19. The orchestra will perform a commissioned Filipino work, Camille Saint-Saëns’ Introduction and Rondo capriccioso, op. 28 and Maurice Ravel’s Daphnis & Chloé, Suites 1 & 2. Violinist Diomedes Saraza will be the guest performer. — Brontë H. Lacsamana

ACEN forges new partnership for RE ventures in Indonesia

AYALA-LED ACEN Corp. said its subsidiary had agreed with Indonesian firm PT Dewata Megaenergi to look into possible renewable energy (RE) projects in Indonesia.

In a disclosure to the stock exchange on Tuesday, the company said its unit ACEN Indonesia Investment Holdings, Pte. Ltd. and PT Dewata Megaenergi signed a shareholders’ agreement on Sept. 8.

The two entities partnered to establish a joint venture platform named PT Dewata ACEN Renewables Indonesia that will “explore potential renewable energy projects within Indonesia.”

Earlier on Aug. 18, ACEN Indonesia’s agreement with another Indonesian firm PT Trisuya Mitra Bersama had been declared effective via a joint venture entity PT Puri Prakarsa Batam.

The partnership focuses on building large-scale solar power plants, battery energy storage systems, and green hydrogen projects in Indonesia.

Earlier this month, ACEN announced the partnership of another subsidiary ACEN Renewables International Pte. Ltd. with Singapore-based company Silverwolf Capital Ltd. to pursue solar projects in Taiwan through a joint venture platform called ACEN-Silverwolf Pte. Ltd.

ACEN is also targeting to build solar projects with a minimum operational capacity of 1,000 megawatts (MW) in Asia through its partnership with German solar developer ib vogt (Singapore) Pte. Ltd.

The joint venture involves shovel-ready projects in Bangladesh, Laos, Cambodia, Vietnam, Indonesia, Malaysia, and other countries in the Asia-Pacific region.

Last week, ACEN said it had raised P25 billion by issuing perpetual preferred shares, which is the first tranche of the company’s shelf registration of up to 50 million preferred shares. The funds are expected to hasten the company’s renewable energy expansion.

ACEN currently has around 4,200 MW of attributable capacity encompassing the Philippines, Vietnam, Indonesia, India, and Australia. It aims to expand its renewables portfolio to 20 gigawatts by 2030.

At the local bourse on Tuesday, shares of the company went down by 19 centavos or 3.87% to close at P4.72 each. — Sheldeen Joy Talavera

How video games like Starfield are creating a new generation of classical music fans

A STARFIELD wallpaper — BETHESDA.NET

STARFIELD was one of the most anticipated video games in recent history. The game, which was released on Sept. 6, allows players to build their own character and spacecraft, travel to any one of a thousand or more planets and follow multiple story arcs.

The soundtrack is equally epic, with audio director Mark Lampert describing the game’s music as a “companion to the player,” with a “sense of scale” that “had to be totally readjusted,” in a recent interview about Starfield’s sound design.

Soundtracks for outer space have appeared in many films — Star Wars, 2001: A Space Odyssey, and Interstellar, to name a few.

But the interactive music of Starfield does something different: Utilizing a palette of musical language that cultivates a contemplative soundscape, it launches the listener into the vastness of space while remaining curious, innocent and restrained. If you close your eyes, you can imagine it being performed in the concert hall.

That’s exactly what happened prior to the game’s release, when the London Symphony Orchestra performed the Starfield Suite before a sold-out audience at the Alexandra Palace Theater, one of the world’s most prestigious concert halls.

As a conductor, musician, and educator, I’m excited about games like Starfield because they’re drawing people to symphonic music like never before.

Before recording technology, the only way to hear music was to experience it live. Throughout early history, music functioned as an integral part of cultural life: It was played at festivals, accompanied religious services, and even served as a means of communication.

During the time of the Renaissance, around the middle 15th to 16th centuries, there was a shift from music as function to music as art and entertainment.

Soon, live vocal and instrumental music became a form of popular entertainment, and people clamored for bigger and better sounds. In the 16th century, the marriage of art, drama, and music was consummated in opera. During the 17th and 18th centuries, instruments continued to evolve, large concert halls and opera houses were built, and composers explored new ideas that pushed boundaries.

What’s now known as “symphonic music” was born: music that was performed by a symphony orchestra. A symphony is not only a large group of musicians, but it is also a piece of music written by a composer containing multiple movements.

To hear a performance of Beethoven’s Fifth Symphony, you had to witness a symphony orchestra play it, and crowds clamored to gain entry to concert halls to hear the newest and most acclaimed composers’ works.

During the 18th and early 19th centuries, however, a set of social rules calcified around this music: how to listen, what to wear, where to sit, and when to applaud. As tastes and technologies began to change in the late 19th century, the masses were drawn to new forms of music like jazz. Concert halls, meanwhile, became the realm of high culture, high art, and high society.

A clear divide between popular music and what became known as “classical” music emerged. That divide still exists today.

Many argue that the classical music world is no longer accessible to most people — it’s seen as too intimidating and too stuffy, with works that are too long and tickets that are too expensive. Meanwhile, symphony orchestras around the world are scrambling to diversify their music and ranks within a tradition and culture that was long reserved for the highly educated, wealthy, and white.

With symphonies working to be more inclusive in their music education and program offerings, I see video games as a key way to bridge this divide.

Due to limitations in hardware, early video games utilized synthesized “bleeps and bloops.” However, these constraints spurred programmers to think about creative ways to make games more immersive through sound.

Today, video games do not have the same limitations. Composers have the agency to create soundscapes that utilize the most advanced hardware and software, and they can employ some of the best musicians in the world to record award-winning soundtracks.

In a 2021 interview, video game composer and conductor Eimear Noone said, “More young people listen to orchestral music through their game consoles today than have ever listened to orchestral music in the history of music.”

She’s probably right. There are over 3 billion gamers around the world, and people between the ages of 18 and 25 spend the most time playing video games. A 2018 poll conducted by the UK’s Royal Philharmonic Orchestra found that more young people are exposed to classical music through video games than through attending live performances.

The fusion of advanced technology and scholarship has forged worlds like those found in the Assassin’s Creed franchise, which can act as time machines that allow players to explore ancient civilizations, with historically informed soundtracks accompanying them on their journeys.

In Activision’s Sekiro: Shadows Die Twice, composer Yuka Kitamura used traditional Japanese instruments to craft a sound informed by Japan’s Sengoku period; the music of Civilization IV contains tracks influenced by composers throughout history; and many of today’s most popular video game titles feature classical music.

“Thanks to video games,” Boston Globe music writer A.Z. Madonna wrote, “I fell in love with classical music.”

Today’s video game music is more interactive and nonlinear than traditional concert hall and film music. This means that composers think differently when writing for games. Tools, technologies, and education for composers and musicians are changing.

The increasing complexity of video games means composers are once again pushing boundaries through expanded sound palettes. Like Starfield, many modern game titles incorporate symphonic music needed to provide the emotional and atmospheric underpinning of the game experience.

As the gaming industry continues to expand — it’s projected to earn $533 billion globally by 2027 — video game soundtracks have become more and more popular. When a game is released, music streaming platforms routinely release an accompanying soundtrack.

The classical music world and symphony orchestras may finally be catching on.

In 2022, the BBC Proms, a daily summer concert series that features classical music in London, included video game music performed by the Royal Philharmonic Orchestra for the first time in history. In 2023, the Grammys recognized “Best Video Game Soundtrack” as an official category for the first time. Its inaugural winner was Stephanie Economou for her work on Assassin’s Creed Valhalla: Dawn of Ragnarök.

Today, there are a number of symphonic concert series — GameOn!, Game Concerts, Distant Worlds, and VGL — that feature live video game music performed by top orchestras.

Starfield is marked by beautiful graphics, interactive game play, and a compelling story, but holding it together is the gravity of its sonic landscape. Video game music has come a long way from its first “bleeps and bloops.” Symphonic music will continue to accompany players’ video game journeys, and like Starfield, the sky is no longer the limit.

J. Aaron Hardwick is the Orchestra Director and Assistant Professor of Music, Wake Forest University.

SEC warns vs. investing in Mono Mall and Dermacare-Beyond Skin 

THE Securities and Exchange Commission (SEC) warned the public against investing in Mono Mall and Dermacare-Beyond Skin Care Solutions/Beyond Skincare Solutions as these entities are unauthorized to solicit investments.

In two separate advisories posted on Sept. 11, the SEC said Mono Mall and Dermacare-Beyond Skin Care Solutions/Beyond Skincare Solutions do not have the necessary registration to sell securities or solicit investments as mandated by the Securities Regulation Code. 

According to the SEC, Mono Mall claimed that it promotes and helps merchants to increase product sales and sell their products online. It also claimed to cooperate with online shopping platforms Lazada, Shopee, Zalora, and TikTok. 

“The said entity claims that they are legitimate and is registered with the SEC but upon verification with the SEC database it turned out that Mono Mall is not duly registered and the SEC certificate they are showing to the public is fake,” the SEC said.

The SEC said that individuals or a group of persons claiming to represent Mono Mall are encouraging the public to invest in the entity.

“Their tasking and recharging scheme works by luring unsuspecting victims to participate in fake online jobs, supposedly in partnership with large e-commerce platforms such as Lazada. Here, they complete tasks such as helping complete e-commerce orders to earn commissions,” the SEC said.

Meanwhile, the SEC said that Dermacare-Beyond Skin Care Solutions/Beyond Skincare Solutions is enticing the public to invest in the entity via a franchise partner agreement, which promises a guaranteed return of 12.6% interest every quarter for five years.

The franchise partner agreement also comes with complimentary services such as a 50% discount on all Dermacare/Dr. White and Glow Services, a 50% discount on all owned brand Dermacare/Dr. White and Glow Products, a 20% discount on doctors’ services, complimentary services for two extensions of choice, and a maximum of two treatments per visit.

According to the SEC, the company’s registered name is Beyond Skin Care Ventures, Inc.

“Republic Act No. 11765 or the Financial Products and Services Consumer Protection Act also prohibits investment fraud which is defined under the law as any form of deceptive solicitation of investments from the public,” the SEC said.

“The public is hereby advised to exercise caution in dealing with any individual or group of persons soliciting investments for and on behalf of Dermacare-Beyond Skin Care Solutions/Beyond Skincare Solutions/Beyond Skin Care Ventures, Inc. and not to invest or to stop investing in the investment scheme being offered by the subject entities or its representatives,” it added. — Revin Mikhael D. Ochave

Arts&Culture (09/13/23)

Music educator Michelle Nikki Junia is CCP president

EARLY childhood educator and performing artist Michelle Nikki Junia was recently elected to be the president ad interim of the Cultural Center of the Philippines (CCP), effective Sept. 1.  Ms. Junia, who has been with the CCP as a board trustee since 2016, replaced Maria Margarita “Margie” Moran-Floirendo, who is now the CCP’s ad interim co-vice chairperson together with lawyer Lorna P. Kapunan. As president, one of Ms. Junia’s goals is making the CCP programs known to the younger audiences that compose a large chunk of the country’s population through art integration and digital technology. “It won’t be as difficult for some people to reach out to CCP because they may be able to relate to me,” said Ms. Junia, who coincidentally is the youngest person to be CCP president.

Meet-and-greets, panels at Manila Int’l Book Fair

THREE National Artists for Literature — Ricky Lee, Rio Alma, and Gemino Abad — will grace the opening of the Manila International Book Fair on Sept. 14. The three authors will kick off four days of literary activities at the fair, including book signings. Former Miss Universe Pia Wurtzbach will launch her debut novel, Queen of the Universe, at 6 p.m. The next day, Sept. 15, will see the panel discussion “Getting the Dream: How These Homegrown Filipino Authors Got Published by the Largest US Publishers,” featuring Mae Coyiuto, Gail Villanueva, Sugar and Spite, Lulu Sinagtala, Caris Avendaño Cruz, and Thea Guanzon. Meanwhile, Komiket will train the spotlight on cult comic creator Kevin Eric Raymundo, better known as Tarantadong Kalbo. The Indie Village, a one-stop shop for Philippine independent publishers, will also showcase a host of events, such as a book signing and Tiktok post contest with Erwin Mallari by Aklat Mirasol, spoken word poetry by Ang Propeta, and a raffle of paintings by Janine Dimaranan and Bryan Barrios by Southern Voice Printing Press. These are just some of the activities that await visitors at the MIBF, which will be held at the SMX Convention Center, Mall of Asia Complex, Pasay City, until Sept. 17.

Hamilton ticket lottery now open

THE AWARD-WINNING musical Hamilton, known for blending hip-hop, jazz, R&B, and Broadway, opened its lottery for tickets on Sept. 11, in time for the performances starting this month at the Theatre at Solaire. Theater goers who sign up will have the chance to purchase two orchestra lottery tickets for P1,600 via TicketWorld. The lottery draw for performances from Sept. 17 to 24, except for Sept. 21, will close on 11:59 p.m. on Sept. 13. For more information on how to sign up, read the FAQs of the official website.

Philippine Suzuki Youth Orchestra holds concert

THE PHILIPPINE Suzuki Youth Orchestra (PSYO), a training orchestra of young musicians with a diverse repertoire, will play classical music for one afternoon at the Metropolitan Museum of Manila in BGC, Taguig on Sept. 16. The orchestra will feature Adrian Nicolas Ong and Theodore Julius Tan on violin, Herrick Ortiz on cello, and the cello quartet Spectrum. It is led by Mr. Ortiz of the Philippine Philharmonic Orchestra and with the assistance of Suzuki-certified teachers Patrick Garcia and Janine Samaniego. To reserve tickets, send a message via Viber to 0906-431-1407 or visit rb.gy/qwqjp. Each ticket will also serve as a free pass to tour the museum.

Maningning Miclat Foundation holds poetry workshop

THE MANINGNING MICLAT Art Foundation Inc., in cooperation with the Far Eastern University (FEU), is now accepting Filipino poem entries with the theme “Pagtatagumpay sa Pandemya” for the Maningning Poetry Workshop, to be held on Sept. 27 at the FEU University Conference Center. Fifteen participants, aged 26 and younger, will be chosen to attend the free workshop based on the one poem they each submit. A hardbound book, Ningning at Liwanag: Antolohiya ng 10 Nagwagi sa Gawad Maningning Miclat sa Tula (2003-2021), will be launched at the event, at which time the winners of the 2023 Maningning Miclat poetry competition will also be announced. FEU participants can send their entries to egonzales@feu.edu.ph while non-FEU participants can send theirs to maningningpoetry@gmail.com. Deadline to submit entries is Sept. 15 at 11:59 p.m.

ARTablado presents Rizal artists

IN “BEYOND BOUNDARIES,” the ongoing exhibit in Robinsons Antipolo’s ARTablado gallery, 13 artists from the Pililla Association of Local Artists and Designers (PALAD) showcase their prowess. The participating artists, all from Pililla, Rizal, are Amiel Manalo, Betchay Tejada, Ma. Christina Mae De Mesa, Dionisio “Dennis” Pagalunan Jr., Dian Masinsin, Hannah Castalone, Jeremy Benasa, Joy Blanco, Jun Roco, Marlon Lucenara, Serineo “Neo” Hilao, Manuel “Noli” Alejandro, and Rona Acuesa. As a collective of local artists and designers that have been actively shaping the cultural landscape of Pililla, PALAD artists transcend their town to extend their influence on a broader audience, advocating for the vital role of art in society. Their exhibition runs until Sept. 15 at Robinsons Antipolo.

Salcedo Auctions launches live and online auction

Salcedo Auctions will be mounting the September edition of The Well Appointed Life, a live and online auction, on Sept. 16. With the theme “Igniting Passions,” it will be bringing on the block works of “sterling provenance” by National Artists Carlos “Botong” Francisco, H.R. Ocampo, and Anita Magsaysay-Ho, and works by Constancio Bernardo, and Mariano Benlliure. A preview of the lots in the auction is on view until Sept. 15 at Salcedo Auctions’ space in NEX Tower, Makati. View the online catalogue of The Well-Appointed Life at salcedoauctions.com. For inquiries, e-mail info@salcedoauctions.com.

Rep presents Snow White and the Prince

REPERTORY PHILIPPINES (Rep) will present its own take on tale of Show White and her prince with the musical Snow White and the Prince. The romantic and funny adventure will run from Sept. 16 to Dec. 17 at the Onstage Theatre in Greenbelt 1, Makati. Originally slated for Rep’s pandemic-shortened 2020 season, the production revolves around raven-haired and resourceful Snow White, her kind and loving nursemaid, the very charming Prince Philippe, his kind and shrewd butler Rupert, the evil and devious Queen, a witty and slightly beleaguered Magical Mirror, and the seven fiercely loyal dwarves. Tickets will be available through Ticket2Me and Ticket World. For inquiries, message Repertory Philippines on its Facebook page or e-mail sales@repphil.org.

CCP presents Granada Flamenco Ballet

GRANADA FLAMENCO Ballet, hailing from Seville in Spain, will be performing in Báilame (Dance for Me) for the first time on the Philippine stage this month. A collaboration between the Cultural Center of the Philippines (CCP), the Embassy of Spain, the Casino Español de Cebu, and the Flamenco Agency from Seville, the shows will commemorate 75 years of diplomatic relations between the Philippines and Spain. Báilame is a ballet performance focused on finding a greater balance between music and dance. Granada Flamenco Ballet will have performances on Sept. 20 and 21 at the Casino Español de Cebu in Cebu City, and on Sept. 22 and 23 at the Tanghalang Ignacio B. Gimenez (CCP Blackbox Theater) inside the CCP Complex, Pasay City. Ticket prices for the Cebu shows range from P800 to P1,000, while the tickets for the Manila shows cost P2,000. Tickets are available at Ticketworld. For more information, visit https://culturalcenter.gov.ph/.

PGH Medical Foundation to hold Biennial Art Auction

ART COLLECTORS, enthusiasts, and philanthropists to acquiring choice works of art from great Filipino artists at the PGH Medical Foundation, Inc.’s upcoming 8th Biennial Art Auction. The foundation is a non-stock, non-profit organization founded in 1997 to assist the Philippine General Hospital achieve its mandate of providing excellent healthcare to the poor. To be auctioned off are works by National Artist Fernando Amorsolo and Arturo Luz, Juvenal Sanso, Ramon Orlina, Marge Organo, and other equally well-known artists. The auction will take place at the Manila Polo Club in Makati on Sept. 26. For more details, contact Lourdes de la Rea and Victor Zoleta at 8536-2874.

AIA PHL gives grant to the National Museum

AIA Philippines (formerly Philam Life) recently presented a five-year institutional grant for the National Museum as part of the company’s commitment to contributing to nation-building and art appreciation in support of mental wellness. The insurance company had previously given the National Museum an institutional grant of P10 million as supplementary funding for the acquisition, preservation, and restoration of artworks, as well as the upkeep of key pieces of the AIA Philippines art collection in the museum. These include Vicente Manansala paintings and the Jose Alcantara murals that were once found at the former Philam Life head office in Ermita, Manila.

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