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Filinvest Land tops off first building in mid-rise community in Alabang

Filinvest Land, Inc. held a ceremonial topping off ceremony for Building Azul of Belize Oasis in Alabang, Muntinlupa City.

LISTED property developer Filinvest Land, Inc. (FLI) recently topped off the first building in its Belize Oasis community in Alabang, Muntinlupa City.   

FLI said in a statement that the Building Azul is a low-density tower with only 25 units per floor. It is part of Belize Oasis, the company’s first mid-rise development in Muntinlupa City under the Aspire by Filinvest brand.   

FLI said Building Azul has a “Venti-lite” design that incorporates sky gardens, allowing natural light and ventilation to the hallways.   

“Soon, the future residents of Belize Oasis will have the privilege of enjoying the attractive features that this project has to offer. Nestled in a highly accessible area, Belize Oasis can be easily reached through major thoroughfares such as C5, South Luzon Expressway, and the Skyway,” FLI First Vice-President for Brand/Product and Regional Project Head for Medium-Rise Buildings Aven D. Valderrama said.   

Belize Oasis is only a few minutes away from Filinvest City, FLI’s 244-hectare township in Alabang.

“Belize Oasis presents a golden opportunity to invest in a prime location with a ready rental market. Alabang has long been coveted due to its strategic positioning, excellent connectivity, and thriving commercial and business districts,” the company said.   

Amenities of its Belize Oasis development include a swimming pool, fitness gym, clubhouse with a dance studio, jogging trails, and manicured landscapes. It also has 70% allocated land for open spaces. — Revin Mikhael D. Ochave

Nickelback reclaims the narrative at documentary TIFF premiere

TORONTO — Rock band Nickelback heard you through the years of condemnation. Their response lies in their new documentary Hate to Love: Nickelback.

The film premiered at the Toronto International Film Festival (TIFF) on Friday, a fitting homecoming for the Canadian band.

Starring band members Chad Kroeger, Michael Kroeger, Ryan Peake, and Daniel Adair, the film takes both haters and fans on a journey through the group’s “rollercoaster career.”

Often labeled as one of the most hated bands in the world, the “How You Remind Me” singers decided it was time to share their side of the story.

“We thought this was a chance for us to hold the narrative,” said Ryan Peake, Nickelback’s guitarist and backing vocalist. “We’ve been silent about it for quite a while.”

There are hundreds of think pieces, Reddit threads, and videos filled with people attempting to break down the reason for the intense public hatred. The consensus seems to be the similarity between songs and its constant radio play in the early 2000s.

Frontman Chad Kroeger no longer rocks his iconic long hair, but his blonde frosted tips brought a hint of nostalgia from the band’s original look.

The film initially started as an album promotion and grew from there, said director Leigh Brooks, explaining that the resentment of the band and the toll it took on their families became too much to bear.

“(The abuse) doesn’t just affect that one person, it affects everyone around them. It was important to show that,” Leigh Brooks said.

The band was guarded at the beginning of filming in response to the vilification, said producer Ben Jones.

“We address everything,” Mr. Kroeger said. “We’re pulling back the curtain, giving everybody a look.” — Reuters

PetPal targets wider reach in Southeast Asia

PET TELEHEALTH platform PetPal is planning to boost its presence in the Philippines and Southeast Asia pet care markets amid increasing demand, its creator said.

In a statement on Monday, 917Ventures noted a surging need for veterinary services as the value of the region’s pet care market is expected to reach $3.08 billion by 2032 from $1.6 billion in 2022.

917Ventures, a corporate venture builder wholly owned by listed telco Globe Telecom, Inc., created PetPal to address the market gap for veterinary care options.

According to 917Ventures, 79% of the Philippine population own a pet, making it among the highest in Asia and prompting a need for more veterinary care options.

“With the surge in pet ownership, many struggle to find affordable, convenient veterinary care options for their beloved animals with just one vet available for every 10,000 pet owners in the country,” 917Ventures said.

917Ventures Managing Director Vince Dominic Yamat said PetPal and pet telehealth services are “transformative solutions” that cater to the demands of modern pet owners. It also aims to change how veterinary care is accessed and administered.

“By offering a platform, PetPal enables veterinary practitioners to reach a wider audience, deliver crucial services to more pet owners and their pets, and advocate for responsible pet ownership. Additionally, PetPal can also foster economic growth by stimulating demand and therefore creating new revenue streams and potentially generating jobs within the pet service sector,” Mr. Yamat said.

Meanwhile, 917Ventures said PetPal recently started to offer at-home grooming services, home vet visits, lab tests, and vaccinations. The platform also plans to introduce an online pharmacy and marketplace for other pet-related goods, supplies, and other services.

It added that a mobile app version of its PetPal Club subscription is projected to launch later in 2023. The subscription offers unlimited teleconsultations for up to two pets annually, as well as discounts on pet services.

“PetPal addresses a gap in the pet care market for convenient, accessible, and cost-effective healthcare services for pets,” 917Ventures Senior Venture Builder Jose Carlo C. Flordeliza said.

He said the American Society for the Prevention of Cruelty to Animals found that a significant number of pets “rarely see a veterinarian due to their owners facing substantial challenges such as cost issues and unavailability of veterinarians.”

“These barriers can lead pet owners to delay or skip veterinary treatments, or even abandon their pets. Affordable telehealth services like PetPal can address this while also helping pet owners avoid additional expenses related to transportation, travel time, or missed work,” he added.

Launched in February, PetPal has since expanded to more than 200 clinics and 1,000 veterinarians on the platform. — Revin Mikhael D. Ochave

Which healthcare center will help more people: Primary care facilities or specialty hospitals?

FREEPIK

On Aug. 24, President Ferdinand Marcos, Jr. signed in a bill mandating the establishment of specialty centers in Department of Health (DoH)-run hospitals and in government-owned or -controlled corporation (GOCC) hospitals in the country. Republic Act (RA) 11959 or the “Regional Specialty Centers Act” aims to ensure accessible and affordable healthcare services for all Filipinos.

Under the law, the DoH is designated to establish specialty centers in every region and in GOCC specialty hospitals, giving priority to the care of patients afflicted with cancer, cardiovascular, lung, renal, brain, and spine diseases, and trauma and burn cases. GOCC specialty hospitals include the Philippine Heart Center, the National Kidney and Transplant Institute, the Lung Center of the Philippines, and the Philippine Children’s Medical Center.

The specialty centers shall also prioritize orthopedic care, physical rehabilitation medicine, infectious disease and tropical medicine, toxicology, mental health, geriatric, neonatal, dermatology, eye, ear, nose, and throat care. At the instance of Batanes Rep. Ciriaco Gato, Jr., an ear, nose, and throat surgeon, ENT centers were included in the law. Said he, “As an ENT surgeon, I have seen how a simple infection resulting from minor issues can escalate into something serious due to lack of accessible specialized care.”

According to Senate President Juan Miguel Zubiri, the Regional Specialty Centers Act would provide medical access and convenience to millions of Filipinos outside Metro Manila. “The idea is to bring the Heart Center, Kidney Institute, Lung Center and Children’s Medical Center closer to the public in Luzon, Visayas, and Mindanao. The transportation cost of going to Manila as well as accommodation is too much,” Mr. Zubiri said.

“Patients from all over the country travel to Manila to seek medical help from these specialty hospitals because the treatment that they require are usually not available at the medical facilities where they reside or are too costly for them. Eventually, we want to bring these services closer to them with the establishment of satellite specialty hospitals,” Senator Sonny Angara added.

According to the Health department, as of 2022 the DoH manages 66 hospitals. Of these, only 36 are Level 3 hospitals or what are commonly referred to as general hospitals. Because of their existing physical facilities, equipment, and medical staff, Level 3 hospitals are the only hospitals that can readily be converted into specialty centers.

Level 3 hospitals are staffed by specialists in family medicine, pediatrics, obstetrics-gynecology, surgery, departmental clinical services, with respiratory units, general ICU, high-risk pregnancy units, dental clinics, teaching/training with at least two accredited residency programs for physicians in any medical/surgical specialty and/or subspecialty, physical medicine and rehabilitation units, ambulatory surgical clinics, and dialysis clinics.

Some of them, like the 1,500 bed Southern Philippines Medical Center in Davao City, may already have cardiovascular and kidney specialists. The services of the 1,000+ bed Vicente Sotto Memorial Medical Center in Cebu City includes cancer treatment. A P10-billion specialty complex like the one being developed in Clark, Pampanga need not be built in some regions.

Level 3 hospitals are located in the most urbanized and commercialized cities of the regions, except in Region I, where the government-owned and -controlled Level 3 hospital is in Batac, Ilocos Norte, not in Dagupan City, Pangasinan. Of the 15 regions, only Region XIII (Caraga) does not have a Level 3 or general hospital.

The location of regional specialty centers in those major cities negates the statements of President Marcos, Senate President Zubiri, and Senator Angara that the specialty centers would provide medical access and convenience to millions of Filipinos. The rural folks of Ilocos, the Cordillera, Cagayan Valley, Mimaropa, Bicol, the Visayas, and Davao regions still have to travel some 100 kilometers or more across mountains or channels to get to the major city where the specialty center is.

Also, services provided by the specialty centers will not be free but will be on a fee-for-service basis as in the Philippine Heart Center, although at rates lower than those charged by private hospitals like St. Luke’s. I know of a person who spent P835,000 for a quintuple bypass in the Philippine Heart Center in 2013. A kidney transplant costs more than that. Therefore, only the landed gentry, provincial business moguls, and political warlords would be able to afford the services of the regional specialty centers. Poor folks would just stay in their huts or shacks, treat themselves with herbal remedies or consult the neighborhood arbolaryo.

Cardiologists, oncologists, nephrologists with advanced training and long experience, and skilled surgical oncologists, thoracic surgeons, and kidney transplant surgeons, having built a lucrative practice and attained prominence in society, would most probably be living a lavish lifestyle. I wonder how many would be willing to relocate to places like Tuguegarao, Batangas City, Tacloban, Butuan, and Zamboanga City, which are among the likely sites of specialty centers.

The amount necessary for the initial implementation of the law will be charged against the current year’s appropriation of the DoH and will include in its program the establishment and operationalization of the specialty centers in its annual budget thereafter. The specialty centers will save hundreds of lives all right, but it will be the lives of the affluent and the powerful in the provinces.

But hundreds of thousands of lives will be lost because the appropriation of the DoH for the development of hundreds of primary care units in the rural areas — as mandated by Republic Act No. 11223, An Act Instituting Universal Health Care for All Filipinos — will be diverted to the establishment of the 14 other regional specialty centers.

The Universal Health Care Act was meant to save lives by providing the medical attention people need when they need it at a cost affordable to the farmers, fishers, cottage industry workers, pedicab drivers, market vendors, and sari-sari store attendants in the countryside. Universal healthcare will work only if there are primary care providers. Primary healthcare ensures people receive comprehensive care, ranging from promotion and prevention, to treatment, rehabilitation, and palliative care as close as feasible to people’s everyday environment.

Primary care units provide the first point of contact in the healthcare system. Folks from rural areas can access a wide variety of health services: preventive care and screenings; care for chronic conditions such as asthma, hypertension, and diabetes; and acute care for problems like coughs, digestive issues, and high fever. Causes of death among children are diarrhea, bronchitis, measles, malnutrition, and pneumonia. Other sicknesses are skin allergies, sore eyes, influenza, chicken pox, and respiratory infections.

The primary care doctor can detect early any health issue like high blood pressure, diabetes, heart disease, pediatric ailments, infections, and care for open wounds, and can determine whether the patient is at increased risk for more serious conditions and can help him or her to take steps to prevent them from developing. The simple infection resulting from a minor issue that Rep. Gato had seen many times would not have escalated into something serious had there been primary care facilities.

A primary care unit can be a six by eight-meter structure with space for consultation and for lying-in care, and a washroom/toilet. It would have a hand water pump and a water storage tank to provide running water. The facility would also have office tables, chairs, and beds. The number of beds would depend on the population of the community the primary care unit shall serve. The World Health Organization recommends that there should be two beds per 1,000 population.

A primary care unit would have a duly licensed physician and a support staff — a nurse, if available, or a midwife/caregiver trained for the effective delivery of primary care services. It would have available operational equipment, instruments, materials, and supplies consistent with the services it would provide.

Graduates of the schools of medicine of state universities can be required to practice for a year or two in the rural areas, if they are not already required by law. Almost all regions have a state university with schools of medicine and related healthcare fields. Primary care units can draw their physicians and support staff from those schools. And, of course, there are those who take up medicine for humanitarian reasons. They would gladly spend their entire professional life caring for the folks in the countryside.

If the budget for a specialty hospital center is used instead for the construction and operation of primary care facilities, hundreds of them can be set up to serve the millions of people who have no access to healthcare service and thus save hundreds of thousands of lives.

 

Oscar P. Lagman, Jr. is a retired corporate executive, business consultant, management professor and an avid sports fan.

TLDC inaugurates solar farm at Davao resort

TORRE LORENZO Development Corp. inaugurated the Lubi Sustainability Solar Farm at Dusit Thani Lubi Plantation in Mabini, Davao de Oro, Sept. 4.

DAVAO DE ORO — Torre Lorenzo Development Corp. (TLDC), in partnership with COREnergy, Inc. and Vivant Energy Corp., inaugurated the Lubi Sustainability Solar Farm at the Dusit Thani Lubi Plantation in Mabini on Sept. 4.

The Lubi solar farm has a peak capacity of 415 kilowatt-hours (kWh) and is projected to produce energy at 520,000 kWh. It is also expected to reduce 250 metric tons of carbon emissions each year.

“To put this number into perspective this solar farm’s annual energy production can power 220 households all year long,” said Michael Angelo H. Lasam, chief operating officer of COREnergy, Inc., which is the retail arm of Vivant Energy Corp.

Tomas P. Lorenzo, president and chief executive officer of TLDC, said the company will be able to save 20% of its energy expenses by using solar power.

“Our plan is to put batteries so that we’ll be 100% all solar,” said Bobby Horrigan, founder and chief executive officer of Hospitality Management and Consultancy.

Mr. Lorenzo said TLDC is dedicated to sustainability.

“We do it because it makes sense and that is why Vivant and COREnergy are our partners because it’s not our core business to do solar. When we look at the whole system to make it work, we need partners like them to give us that right amount of power,” he said.

Cathy Casares-Ko, chief operating officer of TLDC, said the operation of the solar farm is another milestone for TLDC.

“We are constantly exploring new opportunities and innovative ways to operate and respond to the needs of our stakeholders. We are on an island. This is a leisure destination. Sustainable travel is one of the emerging trends, which we cannot ignore. Sophisticated global travelers are now looking for accommodations that embrace sustainability practices,” she said. — Maya M. Padillo

The Nun II successfully subverts the classic exorcism movie – a priest explains how

(Warning: contains minor spoilers for The Nun II.)

THE NUN II is an arresting piece of storytelling which satisfies and subverts audience expectations in equal measure. On one level, it is an extremely watchable piece of action horror, comfortably divorced from reality. The demon from the previous film has resurfaced and is now stalking a group of thoroughly likeable characters in a French boarding school.

Sister Irene (played by Taissa Farmiga), the eponymous nun who previously defeated the demon, has been called in once again by the church authorities. She is assisted by Sister Debra (Storm Reid), a novice who doubts her own faith. This premise makes for a classic battle between good and evil. And there’s a steady stream of scares as the tension builds, before exploding into a jump-out-of-your seat moment.

Those familiar with the real Catholic church will recognize that exorcisms, the sacraments, saints, holy relics, and the respective roles of nuns and priests are not depicted with realism in The Nun II. And there is a casual side-stepping of the all-too-real gender constraints of the mid-20th century.

However, the Nun II does bring a refreshingly feminist gloss to well-worn tropes within exorcism fiction, shattering assumptions about who should be the victim and who should be the rescuer.

In popular culture, the stereotypical possessed person is female and, frequently, a child. The seismic impact of the character of Regan in The Exorcist (1973) is undeniably one factor in this. But the idea has deep and ancient roots.

Research has demonstrated that possession and demonic attacks tend to be associated with women and girls, both in historical and contemporary Christian cultures. There are a variety of reasons for this.

In the middle ages and early modern era, women were seen as more carnal, less spiritual, and weaker than men in both moral and intellectual terms. It was believed that this rendered them easier pickings for the devil. This thinking tied in with the biblical narrative that the serpent in the Garden of Eden deceived Eve rather than Adam. Of course, the point that Adam was feeble enough to take the fruit from his wife, despite God’s instruction, was either brushed under the carpet or used to further evidence the dangerous and malign female influence.

The vast majority of victims of harm linked to exorcism are female and in many cases the assailants are family members. Exorcism abuse is commonly a form a domestic abuse. In 2009, Janet Moses, a young woman from New Zealand, was killed by her relatives in the course of rites to free her from evil spirits. This tragic story formed the basis of a 2015 film: Belief: The Possession of Janet Moses. In England in 2021, a doctor was jailed for having illegally administered dangerous drugs to his partner in connection with exorcism rituals.

Women — and especially adolescent girls — are usually imagined as prey when it comes to demonic forces. This perception shapes both real-world behavior and the entertainment industry. Consequently, The Nun II, in which all of the key demon-battling protagonists are female and coming to the rescue of a stricken adult man, is a dramatic inversion of the norm.

Furthermore, none of the women are infantilized or sexually objectified. They kick and batter monsters in long skirts, trousers, knitted jumpers, and sensible shoes. Even the children are given more fighting to do than squealing (although some screaming is allowed and, frankly, understandable if you are being pursued by the literal devil incarnate).

All of this progressive change takes place without either ridiculing the men or turning them into pantomime villains. The female actors are allowed to be the rescuers due to the situation, rather than because of any inadequacy on the part of their male companions.

The film’s depiction of church dogma and ecclesiology belongs to Hollywood rather than Rome, and nobody should watch it imagining they will be enlightened about Catholic teaching on demons or other subjects (indeed, there are certain misrepresentations in this regard which some believers might find troubling).

Nonetheless, given the damage done to women and girls through exorcism-related abuse (most of which takes place outside Roman Catholic settings) and harmful gender stereotyping more generally, a film that breaks this mold has a lot to commend it. — The Conversation via Reuters Connect

Helen Hall is a Senior Lecturer at the Nottingham Law School, Nottingham Trent University. She is a priest in the Church of England.

T-bills fully awarded at mostly lower rates on strong demand

STOCK PHOTO | Image by RJ Joquico from Unsplash

THE GOVERNMENT made a full award of the Treasury bills (T-bills) it offered on Monday at mostly lower rates amid strong demand and the peso’s recent recovery against the dollar.

The Bureau of the Treasury (BTr) raised P15 billion as planned via the T-bills it auctioned off on Monday as total bids reached P51.814 billion, or more than thrice the amount on offer.

Broken down, the Treasury made a full P5-billion award of the 91-day T-bills as tenders for the tenor reached P14.715 billion. The three-month paper was quoted at an average rate of 5.575%, 2.3 basis points (bps) above the 5.552% seen last week, with accepted rates ranging from 5.543% to 5.59%.

The government also raised P5 billion as planned from the 182-day securities as bids for the tenor reached P15.983 billion. The average rate for the six-month T-bill was at 5.96%, down by 0.6 bp from 5.966% seen last week, with accepted rates at 5.938% to 5.974%.

Lastly, the BTr borrowed the programmed P5 billion via the 364-day debt papers as demand for the tenor stood at P21.116 billion. The average rate of the one-year T-bill inched down by 0.8 bp to 6.19% from the 6.198% quoted last week. Accepted yields were from 6.15% to 6.2%.

At the secondary market before Monday’s auction, the 91-, 182- and 364-day T-bills were quoted at 5.6553%, 5.9867%, and 6.193%, respectively, based on PHP Bloomberg Valuation Reference Rates data provided by the Treasury.

“The Auction Committee fully awarded bids for Treasury bills (T-bills) at today’s auction. The 91-, 182-, and 364-day T-bills fetched average rates of 5.575%, 5.96% and 6.19%, respectively, all lower than secondary market rates,” the BTr said in a statement on Monday.

“The auction was 3.5 times oversubscribed, attracting P51.8 billion in total tenders. With its decision, the Committee raised the full program of P15 billion for the auction,” it added.

T-bill yields mostly declined as the peso rebounded after it hit a near nine-month low last week, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

“The lower T-bill rates awarded today moved in line with the recent recovery of the peso,” a trader likewise said in an e-mail.

The peso hit a near nine-month low of P56.94 per dollar on Sept. 5, but has since rebounded.

On Friday, the local unit closed at P56.63 versus the dollar, strengthening by 16 centavos from Thursday’s P56.79 finish, data from the Bankers Association of the Philippines’ website showed.

On Tuesday, it will offer P30 billion in reissued seven-year Treasury bonds (T-bonds) with a remaining life of six years and 10 months.

The BTr wants to raise P180 billion from the domestic market this month or P60 billion via T-bills and P120 billion via T-bonds.

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

RELX plans PHL launch of disposable vape line in 2024

VAPE manufacturer RELX is looking at launching a disposable vaporized nicotine line in the Philippines next year to reach more markets.

“We felt the presence of disposable vaporized nicotine products and we shifted and we are trying to launch our own [here in the Philippines],” RELX International External Affairs Head Patrick C. Drilon said on the sidelines of last week’s launch of the company’s new product line.

Mr. Drilon said the company is targeting to launch the disposable line next year after its registration and compliance with the requirements of the Bureau of Internal Revenue and the Department of Trade and Industry.

The disposable vape product, called Waka, is being sold in RELX’s other markets. The company’s products are sold in 40 countries.

“We project that the disposable one will effectively convert more smokers into vaping,” Mr. Drilon said, adding that the disposable vape will be a cheaper option. 

“We are going to come out with a Waka price at around P550 with 10,000 puffs,” he said.

On Friday, RELX launched the second generation of its Infinity line, which has three usage modes: eco, smooth, and boost.

Asked whether the company projects the newly launched product line to contribute to its revenue growth, Mr. Drilon said it would but noted that the program is for its partners.

Mr. Drilon said he assumes huge revenue growth this year after a flavor ban was imposed last year.

“At that time, from the declaration of the flavor ban until the Vape Law came into effect, we were not able to sell a lot because we can only sell vapes with plain tobacco and menthol flavors,” he said.

“If you compare it with this year when we can sell flavored vapes, I assume that the growth will be very far,” he added.

In an advisory, the Food and Drug Administration said flavored liquid refill solutions for vapes would no longer be allowed starting May 25, 2022.

However, Republic Act No. 11900, or the Vaporized Nicotine and Non-Nicotine Products Regulation Act was enacted on July 25 last year. — Justine Irish D. Tabile

Ayala Land considers car-free Sundays in estates

AYALA LAND, Inc. (ALI) is looking at expanding its car-free Sundays initiative to the listed property developer’s estates possibly by next year, its marketing official said.

Christine Marianne C. Roa, ALI group head for marketing and communications for corporate, estates and malls, said the 700-hectare Vermosa estate in Cavite is one of the possible areas where the car-free Sundays initiative could also be launched.

“I don’t want to commit but the closest to being a sports facility is Vermosa [estate] in Cavite. There is a sports hub there. It is almost natural that it should also have one (car-free Sundays) because we’ve been having a run there for two years now,” Ms. Roa said during an interview on the sidelines of the initiative’s launch in Makati City on Sept. 10.

“Maybe next year. Hopefully, early next year,” she added.

Located in Imus and Dasmariñas, the Vermosa estate offers residential, retail, and office spaces. It features the Vermosa sports hub, which has an Olympic-sized swimming pool, a nine-track running oval, a mountain bike trail, and a hybrid supercross-motocross track.

On Sept. 10, ALI introduced its car-free Sundays along Ayala Ave. in Makati City. The initiative closes the avenue from vehicular traffic every Sunday from 6 a.m. to 10 a.m. for the entire month of September to allow various activities such as walking, running, and biking.

According to ALI, the initiative is in tandem with Make It Makati along with support from the Makati City government.

“Both the city of Makati and Ayala Land are steadfast in our commitment to sustainability. We are excited to bring you car-free Sundays for an entire month — a time where the streets are yours to enjoy, free from the usual traffic. It’s an opportunity to run, bike, skate, walk your pets, or partake in any fitness activity you love,” ALI Senior Vice-President and Group Head of Estates Robert S. Lao said.

On Monday, shares of ALI at the local bourse fell 25 centavos or 0.87% to finish at P28.55 each. — Revin Mikhael D. Ochave

Global Philippines: The successful FIBA hosting in Manila and the OGP Summit

Last week, two important global events concluded successfully. One was the final games of the Fédération Internationale de Basketball Amateur (FIBA) World Cup, last Sunday, Sept. 10. The second was the Open Government Partnership (OGP) Global Summit in Estonia last Sept. 7.

FIBA
The Philippines hosted some of the FIBA games, which were held from Aug. 25 to Sept. 10.

Some 80 country-teams went through qualifying games to join the top 32 teams that would play in the FIBA World Cup 2023. Of the 32 teams that went to Asia to play in the elimination rounds, eight each were hosted by Japan and Indonesia, and 16 by the Philippines. The 16 teams that survived the elimination round held their games in the Philippines.

I watched the opening games between Angola and Italy, then the Dominican Republic vs. Gilas Pilipinas on Aug. 25 at the Philippine Arena in Bulacan. My daughter Bien Mary and two friends, Luis and Simon, Filipino-German boys who live in Bavaria and who were on vacation here, joined me.

I also watched the semi-final games on Sept. 8 at the Mall of Asia (MOA) Arena: Serbia vs. Canada, then Germany vs. The USA. My two daughters, Bien Mary and Elle Marie, joined me for one game apiece. Then I watched the final game — Germany vs. Serbia — on Sept. 10, with my wife, Ella.

Over the past two weeks, the Philippines had been on the sports pages of many newspapers and sports channels around the world. One of the opening games was particularly electrifying for the local crowd because it was Gilas Pilipinas’ first game — more than 38,000 people watched it live. I wrote about it in my previous column, “BRICS energy and Philippine hosting of FIBA games” (Aug. 29).

This column is supposed to be about economic analysis and not sports analysis, so I will discuss the economics of the country hosting FIBA, led by the Samahang Basketbol ng Pilipinas (SBP), with the support by two government agencies, the Philippine Sports Commission and Philippine Olympic Committee.

IMMEDIATE, SHORT-TERM BENEFITS OF HOSTING FIBA
Here are the main beneficiaries of hosting FIBA: private sector economic players.

The first beneficiaries were the three arenas or stadiums where the games were played — Philippine Arena in Bulacan, the MOA Arena in Pasay City, and the Araneta Coliseum in Quezon City. Ticket prices were high, and attendance was high only during the opening games, the semi-finals, and the finals.

The next beneficiaries were the hotels, malls, restaurants and bars near the game venues. These were around MOA itself, the PICC area and Roxas Blvd., Pasay, Makati, Ortigas, and Quezon City.

Then there were the airlines, and the bus and van companies that transported the players, officials, staff, and security people, and companies that provided their food and other logistical needs.

Also benefiting were the telecom companies, and internet and mobile data providers.

Finally, the energy and electricity companies that provided 24/7 power needs of the hotels, malls, arena, etc. did well too.

Just assuming that around 20,000 balikbayans and foreigners spent $200/day for two weeks, that is $4 million or P280 million added to the local economy. The locals in the five business sectors mentioned above who earned more during the competition would also spend their earnings elsewhere — this is called the “multiplier effect” of higher or rising income.

We will now try to quantify the economic contribution of hosting the FIBA. Here I make two assumptions: First, a 6.5% GDP growth in the third quarter (Q3) of 2023, mainly coming from household and private spending (foreigners and locals), the rise in government infrastructure spending, and net exports of goods and services (especially tourism). Second, a sensitivity analysis of the contribution of FIBA hosting, including the multiplier effect. A 0.1% contribution to the GDP from FIBA hosting would have added some P5.1 billion in Q3 alone; a lower 0.05% contribution would give the domestic economy some P2.5 billion (see Table 1).

MEDIUM-, LONG-TERM BENEFITS OF FIBA HOSTING
The medium- and long-term benefits of hosting this important international sports event will be felt in the coming quarters and years. This is mainly through the increase in tourism, trade and investments in the country as more people abroad would have seen the games, the arenas, the big city, the people, the big population of always smiling and peaceful non-rioting people.

The country, the Philippine economy, owes the SBP a lot for its leadership in hosting the FIBA World Cup. In particular, SBP President Al Panlilio, and SBP Chairman Emeritus and member of FIBA Central Board, Manuel V. Pangilinan or Mr. MVP. Thanks much, sirs.

Thank you, FIBA leaders, and all the foreign teams that came here for the games. It was hugely entertaining to simply see so many seven-footers, 6’ 11” tall players, and “small” but very fast players like Germany’s 6’ 1” dribbler-shooter Dennis Schroeder, who was the FIBA 2023’s most valuable player (another MVP).

And, of course, thank you Gilas Pilipinas for uniting the country. You did not make it to the quarterfinals, but you made us go wild, screaming every time you scored or blocked an opponent’s shot.

I like this observation by Joe Zaldariaga in his column last month, “Sports: A game changer for the economy” (Philippine Star, Aug. 10). He wrote: “Just as success on the court demands strategic planning, agility, and teamwork, the same attributes fuel a nation’s progress in the business arena. There is reason to believe that a positive correlation exists between sporting achievements and a conducive business environment. President Marcos’ drive to attract foreign investors finds resonance in the FIBA World Cup’s potential to highlight the nation’s capacity to host world-class events — a beacon of business-friendliness.”

OGP GLOBAL SUMMIT IN ESTONIA
Department of Budget and Management (DBM) Secretary Amenah Pangandaman led the Philippine delegation to the OGP Global Summit, which was held on Sept. 5-7 in Estonia.

“Open Government” is broadly defined as one with more transparency, accountability, citizen participation, and technology and innovation by governments. As an economic researcher and writer, I believe there is more transparency now in economic and fiscal data than in the past — budget, taxes, borrowings, GDP, inflation, trade, investments, etc.

Secretary Pangandaman correctly stated in her opening address to the Summit that equipping citizens with adequate knowledge on the National Budget also means enabling them to meaningfully engage in various phases of the budget cycle and at different levels of government.

But I must add that the lockdown dictatorship of 2020 and 2021 had not resulted in humility among many officials, especially in the Health, Defense, and Interior/Police departments, and the local governments. Those officials engineered a draconian economic and political dictatorship that resulted in a huge annual budget deficit, huge annual borrowings, and more citizen dependence on government aid and subsidies.

Open Government should lead us to question and disobey the non-expert “experts” that the lockdown implementers have tapped and imposed on the public. We need more economic freedom, not restrictions on freedom. We need more sustained growth, not deep economic contraction.

 

Bienvenido S. Oplas, Jr. is the president of Bienvenido S. Oplas, Jr. Research Consultancy Services, and Minimal Government Thinkers.

minimalgovernment@gmail.com

Pueblo de Oro shifts to renewable energy

Solar panels at Pueblo de Oro Townsquare

PUEBLO DE ORO Development Corporation (PDO), the property development arm of the ICCP Group, is walking the sustainability talk as they actively pursue the installation of solar panel systems to energize buildings within their projects.

A pioneer of “green living” in the Philippines, Pueblo de Oro has consistently integrated environmental programs in its developments in Cagayan de Oro, Cebu, Pampanga, and Batangas. This includes flood control measures, erosion mitigation measures, recycling programs, generous open spaces, and nature reserves — all designed to make communities more environmentally resilient.

The developer has recently begun to harness renewable energy (RE) in its projects to make its operations at its sites even more sustainable.

Pueblo de Oro Golf & Country Club in Cagayan de Oro has installed solar panels in its Bag Drop Building. The system has resulted to approximately 12 percent savings in monthly electricity consumption for the Club.

In Cebu, Pueblo de Oro has installed another rooftop solar system in the Pueblo de Oro Townsquare, a three-level commercial strip located in Babag 2, Lapu-Lapu City. The system powers the Administration Office located in the retail center and is projected to reduce the office’s monthly electricity cost by approximately 46%.

Solar panels being installed at Pueblo de Oro Golf & Country Club

These initial rooftop solar panel set-ups are estimated to reduce carbon dioxide (CO2) emissions by a combined 2,128 kilograms (kgs) per year or equivalent to 97 trees planted and grown. On average, a mature tree can absorb and sequester approximately 22 kilograms of CO2 per year.

“We will continue to tap into innovative practices and technologies, such as renewable energy, and expand its use in our day-to-day operations to make our developments more sustainable and environmentally friendly,” said Pueblo de Oro officials.

In addition to the rooftop solar panels, the developer has also installed solar-powered streetlights in its various project sites. A total of 720 streetlight fixtures, ranging from 100 to 200 watts, were set-up in Cagayan de Oro; Mactan, Cebu; Santo Tomas, Batangas; and San Fernando, Pampanga. Running at an average of ten hours per day, the installed solar streetlights represent savings of over 320,000 kWh of grid-supplied electricity. This results in a reduction of CO2 emissions of approximately 154,787 kg per year, or equivalent to over 7,000 trees planted and grown.

In its Townscapes Malvar township in Batangas, the company is planning to utilize electric vehicles (EVs) to service the community and potentially integrate into the public transport network of the province.

Meanwhile, Pueblo de Oro’s house design at Townscapes Malvar has secured a preliminary certification from EDGE, an internationally recognized green building certification system. EDGE reported that the purposeful and innovative design resulted in improvements of 20 percent in energy efficiency, 52 percent in water efficiency, and a high 72 percent in embodied energy in materials used compared to a typical housing unit. For the homeowner, these translate to an estimated energy savings of 623.2 kWh per housing unit per year, or over P7,700 per year (estimated at current rates). It also means savings of 63 cubic meters of water per household per year.

 

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Ovialand partners with BDO

REAL ESTATE developer Ovialand, Inc. said it partnered with BDO Unibank, Inc. on a new home loan program.

In a statement, Ovialand said that under the BDO new home loan program, clients can receive up to 95% of the loan value to buy a home. This would allow a client to buy a new home with a downpayment as low as P100,000 to P200,000.

“We are pleased to partner with BDO in making the dream of homeownership a reality to more Filipinos. This partnership will enhance Ovialand’s own efforts in making the process of buying a home more convenient to everyone,” Marie Leonore Fatima Olivares-Vital, president and chief executive officer of Ovialand, said.

Angelita C. Manulat, BDO senior vice-president and home loans business head, said Ovialand’s goal of building affordable homes is aligned with the bank’s commitment to “make homeownership fast and easy through unique financing options.”

Ovialand’s  housing projects are mostly located in South Luzon, particularly in Batangas, Laguna and Quezon.

In April, the company launched a P990-million housing development in Baliwag, Bulacan to mark its foray outside South Luzon.

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