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Web3PH unveils calendar of events for 2024

Looking ahead to 2024, independent organization Web3PH is gearing up for a series of groundbreaking events that mark just the beginning of its ambitious plans for the year.

These events include the insightful “Panimula: Kasaysayan At Kinabukasan” in January, an exclusive gathering for key technology figures in the public and private sectors; “Crypto Night” in February and May, a community meetup for both seasoned and new crypto enthusiasts; “The Beauty of Crypto” in March, a fusion of technology and aesthetics; “CODECAMP” in July, an initiative to onboard the next million Filipinos into web3; “UNDOXXED” in September, a token-gated event for the web3 elite; “Web3PH Summit” in October; and the much-anticipated return of “Block Party” in November.

Each event is carefully curated to foster collaboration, policy-making, industry growth, and community engagement, reflecting Web3PH’s commitment to propelling the country into the forefront of the digital era.

As it continues to broaden its scope, Web3PH is actively seeking dynamic partnerships and sponsorships. This presents a unique opportunity for forward-thinking organizations to become key players in the evolving web3 landscape in the Philippines. By contributing resources, expertise, and vision, partners can play an instrumental role in shaping a future where technology and community interconnect seamlessly.

The organization also extends an open invitation to potential sponsors and partners to embark on a transformative journey with Web3PH, which does not only involve backing successful events but forging lasting impacts in the realms of innovation and collaboration.

Following the resounding success of its Block Party event last November on the sidelines of YGG Games Summit 2023, Web3PH encourages everyone to stay engaged and connected.

“We’re just getting started,” adds Justin Wee, a core member of Web3PH. “2024 is set to be a pivotal year for us, and we’re thrilled to continue this journey with the support of our community. Together, we’re shaping the future of technology in the Philippines.”

Paris Fashion Week: Viktor & Rolf takes a snip; Giorgio Armani goes shimmery; Chanel has a light touch

VIKTOR & ROLF — VIKTOR-ROLF.COM

PARIS — For their spring summer couture show, Viktor Horsting and Rolf Snoeren, the Dutch design duo behind the label Viktor & Rolf, showed an all-black lineup of ballgowns, tiered dresses and a tuxedo jumpsuit that looked as though they had been attacked by a pair of scissors. (See the show here: https://www.viktor-rolf.com/collection/haute-couture-viktor-rolf-scissorhands-spring-summer-2024 )

Bright spotlights switched on at the start of the show, startling the chattering audience.

The first model walked out slowly in a full-skirted dress covered with a hulking, satin coat, cinched at the waist, its upturned collar framing her face. The silhouettes that followed appeared to be the same design, but with patches snipped away, to show legs, part of an arm, or the ivory lining.

Other looks were similarly rearranged into entirely new shapes, including one gown that had ragged material trailing on each side, and another that was sliced nearly down the middle — leaving one shoulder bare.

“It’s about our love for couture and as well the irreverence for it, to live in both at the same time,” Mr. Horsting said backstage after the show.

Mr. Snoeren explained why they used black throughout the collection.

“We wanted to focus on silhouettes and black makes everything more abstract,” he said.

The label belongs to Italian fashion group OTB.

YUIMA NAKAZATO
Yuima Nakazato showed an elaborate haute couture lineup at the Palais de Tokyo in Paris on Wednesday, sending models down a stark white runway in pleated, scrunched, shredded, and dyed fabrics, embellished with spikes and patches of shiny armor. (All the outfits can be seen here: www.yuimanakazato.com/collection/couture_ss2024.html)

The Japanese designer drew up costumes for an upcoming performance of the opera Idomeneo, debuting next month in Geneva, and the spring-summer runway collection was linked to the collaboration.

Male models were wrapped in layers of fabric — one wore an airy, sheer scarf wound around strips of silvery armor, while another moved with piles of bunched up ruffles trailing behind.

Draped dresses and skirts were embellished with huge, shimmery coins, and a suit jacket had patches that seemed barely stitched together.

The show closed with a performance by dancer Pau Aran Gimeno, who, dressed all in white, stepped into a pool of red paint and smeared it over the runway with the fabric of his trousers.

GIORGIO ARMANI
Italian designer Giorgio Armani took a shimmery haute couture lineup to a Paris runway on Tuesday, showing slim trouser ensembles and full skirted gowns in pastel hues. (View the show here: https://www.youtube.com/watch?v=BwueX7ST9VI. )

His Armani Privè spring summer collection drew crowds to the show venue, the Palais de Tokyo, as onlookers gathered to catch the arrivals of celebrities including actresses Glenn Close, Gwyneth Paltrow, and Juliette Binoche.

Models moved slowly down the slim runway parading bustier gowns with piles of ruffles, tapered trousers paired with silky, collarless vests and sheer tops decorated with ornate embroidered flower patterns.

Accessories included looping necklaces and earrings made of beads, as well as round, pleated hats set atop the head at an angle, forming a broad halo. Some models carried small, dangling purses, while others grasped clutches.

When the show ended, the room went dark, and the Italian designer emerged into the spotlight, offering a nod and a wave to the applauding audience.

Mr. Armani, 89, is also chief executive officer of his company, that he set up with his late partner in the 1970s.

CHANEL
Chanel creative director Virginie Viard whipped extra airiness into the luxury label’s spring/summer haute couture show, with thin veils and tufts of tulle that floated down a carpeted runway. (See the show here: https://www.chanel.com/us/haute-couture/spring-summer-2024/ )

The audience sat in a ring under a gigantic button — stamped with the label’s logo. Moving down from the ceiling, it announced the start of the show, tilting toward the photographers’ podium.

Leading the line-up, actress Margaret Qualley was all in white. She wore the label’s signature tweed jacket embellished with shiny buttons, square pockets, and a ruff collar, paired with shimmery white tights and a miniskirt. Black heeled sandals and a matching hair bow — worn by others throughout the show — finished the look.

The ensembles that followed were varied and distinct. Ms. Viard added a sheer, black train to a white bustier minidress, and trimmed a tweed jacket, with transparent, white balloon sleeves that puffed out just below the elbow.

While jackets were cut short, miniskirts were slung low, revealing white, shimmery skin-hugging material underneath.

The pastel color palette and shiny, crystal embellishments brought a light touch to the collection, offset with occasional veils of black tulle — that even took the form of trousers.

The Paris spring/summer haute couture shows ran through Jan. 25. — Reuters

Jollibee opens 100th North American branch

LISTED fast-food giant Jollibee Foods Corp. (JFC) now has 100 stores in North America after opening a branch on Jan. 25 in the city of Surrey, British Columbia, Canada, the company’s president said.

Over the weekend, JFC announced the opening of the new Jollibee branch at the Strawberry Hill Shopping Center. This marks the second branch in Surrey.

“The launch of our 100th store in North America is a crucial milestone for us, demonstrating the strength of our Jollibee North America team,” JFC President and Chief Executive Officer Ernesto Tanmantiong said.

He also expressed optimism for the future, saying, “We hope you will continue to cheer us on as we open the next 100 stores in North America and achieve our vision of becoming among the top five restaurant companies in the world.”

Highlighting the company’s accelerated push in North America, JFC noted the recent store opening as a part of its strategic expansion plans in the world’s largest quick-service restaurant market.

The Canadian expansion follows the recent inauguration of a Jollibee branch in Sterling Heights, Michigan, United States, on Jan. 12, marking the company’s first entry into the state.

JFC encompasses eight wholly owned brands, including Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal, Yonghe King, Hong Zhuang Yuan, and Smashburger. It also operates four franchised brands — Burger King, Panda Express, Yoshinoya in the Philippines, and Tim Ho Wan in certain territories in China.

The group also owns 80% of The Coffee Bean & Tea Leaf; 60% in the SuperFoods Group that owns Vietnamese coffee brand Highlands Coffee; and 51% of Taiwanese bubble tea brand Milksha.

Shares of JFC were last traded on Jan. 26 at P274.60 apiece. — Revin Mikhael D. Ochave

Charge to experience luxe

Priced at P9.99 million, the EQS grows the number of all-electric offerings from Mercedes-Benz Philippines. — PHOTO BY KAP MACEDA AGUILA

The Mercedes-Benz EQS is the all-electric version of the S-Class

THE FLOODGATES have truly been thrown wide open. Electric vehicles have long ceased to be novelties but represent the inevitability of our mobility fate.

That’s certainly how it looks like with the local Mercedes-Benz stable of models. Following a trio of electric releases (EQA, EQB, and EQE) in September of last year, IC Star Automotive, Inc., official distributor of Mercedes-Benz vehicles in the Philippines, unveiled the flagship EQS. Coming in a lone EQS 450 4Matic AMG Line guise, the electric vehicle is the all-electric equivalent of the top-rung S-Class.

Amid the influx of EVs, the distributor is bullish about prospects. Intimated Mercedes-Benz Philippines Product Planning and Training AVP Benjie Bautista to “Velocity,” “The reception has been very good, with many of our customers being early adopters. Some are our previous customers who want to experience change. They also have their own personal advocacies in sustainability, reducing CO2 emissions, carbon neutrality, and the like. It has also been a success because I think we’ve been able to position and price the vehicles competitively.”

By the executive’s reckoning, about 15% of the EQ-model buyers here thus far are repeat customers.

Introduced globally just last year, the EQS luxury sedan is said to be the first Mercedes-Benz model “built on the modular design intended for executive and luxury-class electric cars,” according to a Mercedes-Benz Philippines release. The company continues that the sedan “seamlessly combines design, technology, safety, and connectivity.”

The exterior shape is highlighted by the brand’s signature “one-bow design” featuring a “coupé-like roof line, which extends in an arc over the vehicle, over the frameless doors to the rear.” A truncated nose and clamshell hood mark the forward area, while an attractive fastback rear gets the viewer’s attention. The profile is not just for show, either. The sleek shape helps the EQS get down to a 0.20 coefficient of drag, which makes it the most aerodynamic production vehicle in the world.

The EQS boasts a so-called Digital Light with Ultra Range High Beam, which can adjust to the driving situation for “relaxed and safe driving.” On the other hand, the rear lights get a curved 3D helix shape and are connected by an illuminated strip.

Mercedes-Benz reported that the EQS already banners Artificial Intelligence, which allows it to “make decisions almost instantaneously and learn over time about how the car is used.” A so-called Zero-Layer interface allows vehicle function, display, and infotainment parameters to adjust to the user. It even makes context-based personalization of comfort, entertainment, and vehicle modes. Integrated in the MBUX infotainment system is adaptive software that ensures most relevant or used applications are available most readily. The car bears “up to 350 sensors, feeding control units and algorithms information to process.” It can read distance, speed and acceleration, deceleration, lighting conditions, precipitation, temperatures, and seat occupancy.

The centerpiece in the vehicle’s cabin is the MBUX Hyperscreen, a huge 56-inch curved display that allows the user to “view all information and issue voice commands more easily.” Covered by a length of bonded glass are three screens — an OLED 12.3-inch one for the driver, 17.7-inch display at the center, and 12.3-inch screen for the front passenger. A Burmester 3D surround sound system employs 15 speakers, wireless charging, and wireless Apple CarPlay and Android Auto connectivity.

The second row boasts the MBUX High-End Rear Seat Entertainment System, predicated on two 11.6-inch displays with touch controls on the backrests of the driver and front passenger seats. In addition, the MBUX rear tablet also comes standard. The independent tablet can be used outside the EQS. Android apps may be installed in the tablet, and it can be used as a remote control for all rear-seat entertainment functions. As for the seats, backrests are electronically adjustable. The front and rear seats are climatized and a comfort armrest is available in the rear.

And as it bears the hallowed “S” letter, the EQS receives a four-link front and multi-link rear suspension found in the S-Class, promising superior ride comfort. An Airmatic air suspension adjusts damping and allows for real-time adjustment to road conditions. Cabin lighting consists of 190 LEDs in wraparound light strips and elements. Active Ambient Lighting offers 64 colors, and can be operated and tailored through the MBUX voice assistant, which recognizes the position of the person speaking.

The EQS 450 4Matic AMG Line is powered by a next-generation lithium-ion battery. The 108.4-kWh cell pack can muster a maximum range of 717km (WLTP-certified). This can translate insisted Mercedes-Benz Philippines, to a “worry-free” trip from Manila to Baguio — depending on one’s driving habits and the vehicle load, of course. Its 4Matic all-wheel drive determines the most efficient all-wheel-drive distribution depending on situation, and the electric powertrain dishes out 360hp and 800Nm — translating to a standstill-to-100kph time of 5.6 seconds.

Finally, the Mercedes-Benz Driving Assistance Package Plus enhances safety through “modern, intelligently networked sensor systems” that yield semi-automated driving.

“We believe that the EQS is equally competitive in its segment,” added Mr. Bautista. “We’re expecting to build even more on our EV sales from last year… It’s very good that the government has been able to support the EV industry. We hope the support continues.”

The executive trusts that electrics will continue to be more attractive to buyers as public charging infrastructure is set up. “As infrastructure is being established, we’re confident that our customers can travel from, say, the northern tip of Luzon to the southern tip, and they’ll have chargers they can use along the way.”

Meanwhile, Mercedes-Benz Philippines Passenger Cars Distribution General Manager Rhomel Franco revealed to “Velocity” that a viable target strategy the company is looking at for its electric vehicles is to appeal to sustainable-minded firms’ executives. The Mercedes-Benz premium cache and green values are definitely aspirational sets for the, well, enlightened C-suite.

The 2024 Mercedes-Benz EQS 450 AMG Line has an introductory price of P9.99 million.

Beyond makeup: L’Oreal’s Beauty Academy now extends to social media training

DIGITAL BEAUTY ACADEMY graduate Angelica Galang.

L’OREAL’s Digital Beauty Academy program has produced 516 graduates, all aiming to earn their livelihood through social media.

With the rise of social media content monetization, this new iteration of L’Oreal’s Beauty for a Better Life program (which usually produces skilled beauty professionals) equips the students with knowledge on beauty, digital marketing strategies, e-commerce essentials, and expert social media management. The second batch of graduates were honored in a ceremony at Quezon City Hall on Jan. 16.

“We needed to create a program that would allow us to reach more individuals. What better way to do it than to use the power of beauty… and use digital to create more opportunities for individuals?,” said Krhizzy Pasigan, Corporate Affairs Head of L’Oreal Philippines in a press conference after the event. “At L’Oréal, we are moved by the impact that the Digital Beauty Academy training has had on its graduates. Guided by Beauty for a Better Life principles, we believe that beauty and education can be catalysts for social inclusion, providing women self-confidence and empowerment. In today’s digital landscape, we aim to go beyond traditional boundaries and utilize beauty and digital to unlock new livelihood opportunities in social commerce and content creation,” said Yannick Raynaud, Managing Director of L’Oréal Philippines in a statement. “We look forward to further expanding programs like this to other beneficiaries and cities around the country.”

The program was enabled with the cooperation of SPARK! Philippines, TikTok, and the Quezon City government, from where the graduates hailed from.

With previous iterations of the Beauty for a Better Life program, success could be measured with the immediate employment of the graduates. With the Digital Beauty Academy, and the rollercoaster ride of social media success, outcomes might be more nebulous. Still, at least according to Angelica Galang, a graduate from the first batch, life has improved.

Speaking in the same press conference, Ms. Galang said that she had been shy at first, but after training under the Digital Beauty Academy, she gained confidence, 48,000 followers, and a six-digit income.

“I think more than economic empowerment, my personal perspective is that when we had the launch of the first cohort, you can see that everybody was quiet,” said SPARK! Philippines Executive Director Maica Teves. “I think part of this is women finding their own voice.”

Observing that most of the participants in the program were women or LGBTQIA+ individuals, Quezon City Mayor Josefina “Joy” Belmonte emphasized the importance of granting economic opportunities to these particular groups. Ms. Belmonte gave other examples of gender-based economic programs that Quezon City has for its citizens, including the No Woman Left Behind project which helps women in jails by providing them with training and skills to convert tarps into bags, sold in retail stores and other channels. A percentage of these proceeds is given back to the women, because as Ms. Belmonte points out, “In the country, even when they’re in jail, they’re still the breadwinners in the family. They use this income to help their families.”

“There is solid data to show that when there are equal opportunities for everyone, there is greater progress in a society. Equal opportunities means that everybody is able to have equal chances towards progress, equal choices to develop their potential, and to contribute to the betterment of the nation,” she said during the press conference. — JLG

Viability concerns stall Ayala hospital arm’s bid for P9.49-B PGH cancer center

RAMILTIBAYAN/CC BY-SA 4.0/WIKIMEDIA COMMONS

THE Ayala group’s hospital brand is facing challenges in bidding for the P9.49-billion Philippine General Hospital (PGH) cancer center due to concerns about economic viability, an official said.

“No movement right now because when we looked at the terms of reference, it is quite difficult to make it really viable,” Jaime E. Ysmael, Healthway Medical Network chief executive officer, told reporters last week.

“The government is now studying if they can modify the terms,” he added.

Healthway Medical Network is the hospitals and clinics arm of Ayala Healthcare Holdings, Inc. (AC Health). 

“It is more of the economics. It is difficult to really make it work considering that you’re building a big hospital that will address both charity and private patients,” Mr. Ysmael said.

“You can get earnings from the private patients but we will not earn anything from the charity side,” he added.

Building a large hospital for both charity and private patients poses economic challenges, with complexities in the build-transfer-operate model, according to the company.

“Even the assets will not be with the proponent; it is hard also to get loans if that is the case,” he added.

The cancer center project, with a 300-bed capacity, began bidding in June last year, aiming to enhance the existing University of the Philippines-PGH cancer facility.

In November, the company inaugurated the P3 billion Healthway Cancer Care Hospital  in Taguig City, featuring specialized facilities and services.

AC Health’s diverse portfolio includes Healthway, Generika Drugstore, IE Medica, MedEthix, and the healthcare aggregator app KonsultaMD. — Revin Mikhael D. Ochave

Unlocking global opportunities: Studying abroad made easier with accessible and reliable payment platforms

For Filipinos, studying abroad is a golden opportunity. Beyond obtaining a high-quality education, it paves the way toward a thriving career. It’s not surprising then that an increasing number of Filipinos are showing interest in studying overseas. In 2022, data from UNESCO, or the United Nations Educational, Scientific, and Cultural Organization, revealed that nearly 23,000 Filipinos are pursuing education abroad.

“In the next five years, we can expect a 13% increase in Filipinos seeking quality education abroad. The endless possibilities it offers, coupled with strong support from the private and public sector, suggest a rising trend,” said PETNET President and CEO Adrian Alfonso Ocampo.

Aside from the educational and career benefits, there are additional exciting aspects to anticipate when studying abroad.

Exploring new places and building connections

Studying abroad goes beyond the classroom; it’s an opportunity to explore land away from home. During weekends or breaks from classes, students can schedule trips to roam across the country and meet new people, turning the experience into a combination of study and vacation.

Immersing in a new culture

Understanding and immersing oneself in a different country’s culture is another perk. By learning how the locals live and embracing their traditions, students gain a unique and expanded perspective of the world.

Professional growth

International education and work experience provide a competitive edge. It shapes people into dynamic, agile individuals who can adapt quickly.

PETNET, Inc. expanded its partnership under one of its service brands, PETNET Forex Solutions, with global B2B payments company, Convera, who provides leading payment solutions in the education space and is trusted by more than 900 institutions worldwide.

By leveraging Convera’s extensive network of partner universities, PETNET aims to offer a simple and economical solution through the Convera GlobalPay for Students platform for managing direct payments to international education providers,” said Mr. Ocampo.

With accessible programs for Filipino students, funding overseas education is now more manageable, particularly regarding tuition fees.

The Convera GlobalPay for Students platform ensures that Filipino students and payers can pay their tuition in Philippine Pesos (PHP) with the assurance that the payment will arrive on time, in full, without hidden charges. Tailored for international students, the platform offers a simple and reliable way to pay education fees.

Students, parents, and sponsors can select PETNET as their preferred payment option during checkout and complete their payment online via bank transfer.

Through this payment platform, PETNET Forex Solutions and Convera are empowering Filipinos by providing accessible payment solutions that bring them closer to their dreams of academic opportunities abroad.

“The Convera GlobalPay for Students platform hopes to assist Filipino students with access to a seamless and economical method of direct payments to education providers abroad,” said Mr. Ocampo. “Studying overseas is an opportunity you don’t want to miss. And we are glad that through our platform more Filipinos are being empowered to seize this once-in-a-lifetime breakthrough.”

Access the Convera GlobalPay for Students platform by visiting students.convera.com.

Stay updated on PETNET Forex Solutions’ latest services by following them on Facebook and LinkedIn.

 


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YGG announces partnership with Iskra

YGG Co-Founder Gabby Dizon (left) and Iskra CEO Eugene Lee (right)

Yield Guild Games (YGG) has announced it will be introducing its questing systems to Iskra, a web3 gaming hub and launchpad with over four million registered wallets and 100,000 monthly active users (MAU). Backed by the likes of LINE, Kakao, Wemade and Netmarble, Iskra brings together gamers and game studios, enabling players to explore high-quality blockchain games and create their own communities. The collaboration between Iskra and YGG aims to expand the web3 gaming ecosystem by creating engaging quests that deliver rewarding experiences within Iskra-partnered games.

As part of this partnership, YGG and Iskra have signed a memorandum of understanding (MoU), that establishes a collaborative relationship between the two parties. This includes conducting joint marketing campaigns via Discord events and AMAs, as well as increasing user participation through YGG’s questing systems.

“This partnership marks an important step for web3 gaming, as we get to show how effective the questing model is through Iskra’s growing platform of web3 titles. We look forward to creating engaging quests that will ensure player retention, build their on-chain reputation and contribute towards a shared vision for the ecosystem,” said YGG Co-Founder Gabby Dizon.

Founded in 2021, Iskra has raised over $40 million in seed investments to date. The platform has also partnered with Indonesia’s largest game developer, Agate, and entered into a strategic partnership with Vietnam’s leading blockchain company, VeriChain, and Coinbase for the launch of its Ethereum Layer 2 (L2) project, Base.

Electro-gran

The vehicle is the first in the country to feature BMW Connected Drive. — PHOTO FROM BMW

BMW PHL adds a sedan to its EV lineup

AHOY, electric vehicle enthusiasts! BMW Philippines recently revealed the latest addition to its local vehicle lineup: the BMW i4 eDrive35. Convincingly priced at P4.49 million inclusive of a five-year comprehensive BMW warranty, a six-year BMW service-inclusive package, and an eight-year high-voltage battery warranty, this all-electric, 286hp, four-door gran coupe is definitely an attractive, new product to consider in the premium sedan segment.

As one of its highlights, the new BMW i4 eDrive35 is the first BMW model available in the Philippines that comes equipped with BMW Connected Drive. This feature allows its users to fully exploit the (downloadable) MyBMW App, which enables its users to remotely control certain vehicle functions and access the car’s vital vehicle information through a smartphone.

BMW Philippines President Spencer Yu was keen to emphasize that it is the vision of SMC Asia Car Distributors Corp. — the official importer and distributor of BMW vehicles here — to have the brand offer the biggest selection of premium electric vehicles in the country. The i4 eDrive35 is its fourth battery electric vehicle model.

Said to be bestowed with good driving dynamics, renowned BMW handling, hallmark spaciousness, and a maximum battery range of 483km (per the WLTP cycle), this single-motor rear-wheel drive gran coupe is bound to paint smiles on many drivers’ faces — especially with its 400Nm of torque and ability to accelerate from zero to 100kph in six seconds.

It features fifth-generation, BMW eDrive technology, and also carries an adaptive recuperation system which recovers energy which would otherwise be lost during braking. This recovery system is intelligent because it learns from real-time driving data, and adjusts its system accordingly in order to achieve maximum efficiency in its recuperation in the first place. Moreover, the i4 eDrive35 highlights a high-voltage battery which uses the latest battery-cell technology. It has a built-in heating and cooling system which optimizes thermal management to get the most out of fast charging. The purchase of an i4 eDrive35 comes with a BMW Wallbox charger that will be installed by a company “i-partner” in the client’s home.

Furthermore, the i4 eDrive35 comes equipped with a cloud-based navigation system called “BMW Maps,” — which is not only dynamic in its computations, but is also able to consider route plans that include charging stops! It uses 5G data transmission, and is also capable of remote software upgrades. Automatic emergency calls are enabled for when there is an event such as a collision. Mind you, these connectivity benefits come fully purchased with the car, and are not dependent on subscriptions.

With other modern bells and whistles such as the ability to generate a digital car key, the availability of BMW’s intelligent personal assistant and its usual suite of safety features, the BMW i4 eDrive35 is certainly a car that is bound to have progressive car buyers giving it more than a passing look.

Marilyn Monroe memorabilia on view in Hong Kong exhibition

MARILYN MONROE fans in Asia will have the chance to see the iconic star’s personal memorabilia up close at Hong Kong’s Fringe Club.

The exhibit, running from Jan. 27 to Feb. 1, is a preview for Julien’s Auctions’ “Icons: Playboy, Hugh Hefner, and Marilyn Monroe” auction, which will run on March 28, 29, and 30 in Beverly Hills, California, USA.

The auction will feature memorabilia from the estate of Marilyn Monroe (who died in 1962, and was the first centerfold for Playboy magazine in 1954), Playboy media founder Hugh Hefner’s personal heirlooms, and items from the Playboy archives.

Highlights from the auction include the black gown worn by Ms. Monroe in a dream sequence from the movie Seven Year Itch, designed by William Travilla. This dress is estimated to sell from $100,000 to $200,000. A pink dress by Emilio Pucci has an estimated price of $40,000 to $60,000 (Monroe was buried in a dress by the same designer).

(The record for the most expensive dress bought at auction — $4.8 million — was sold by Julien’s Auctions. It was the beige dress worn by Ms. Monroe when she sang “Happy Birthday” for then-US President John F. Kennedy.)

More items from Ms. Monroe’s estate include a simulated diamond brooch (estimate price: $8,000 to $12,000), and a used tube of lipstick from Elizabeth Arden, marked “Orange Pink like Miss I./ sample 05022/ May 2, 1960” (estimate price: $7,000 to $8,000),

Not only Ms. Monroe’s outfits are up for grabs: at an estimated $2,000 to $3,000, one can own Mr. Hefner’s red silk smoking jacket, silk pajamas, slippers, and pipe. “This ensemble is not just a piece of history; it’s a slice of the Hef’s glamorous lifestyle [which] set new standards for luxury and leisure during the eras of the ’60s, ’70s, and ’80s,” said a release.

“The Icons: Playboy, Hugh Hefner, and Marilyn Monroe” exhibit in Hong Kong will run from Jan. 27 to Feb. 1 at Fringe Club, 2 Lower Albert Road, Central, Hong Kong.

PSE set to implement adjustments to indices

BW FILE PHOTO

By Revin Mikhael D. Ochave, Reporter

THE Philippine Stock Exchange, Inc. (PSE) will implement changes to its indices on Feb. 5, affecting the industrials, holding firms, property, services, PSE MidCap, and PSE Dividend Yield (DivY) indices, while the PSE index, financials, and mining and oil sectoral indices remain unchanged.

Changes, in line with the PSE’s index management policy, were made following a review based on trading activity in 2023, according to a document dated Jan. 26 posted on the PSE’s website.

In the industrial index, Ionics, Inc. and Shakey’s Pizza Asia Ventures, Inc. were added, while Axelum Resources Corp. and Phinma Corp. were removed.

Lopez Holdings Corp. was removed from the holding firms sectoral index.

Construction firm D.M. Wenceslao & Associates, Inc. and property developer Shang Properties, Inc. were the new additions to the property sectoral index.

The services sectoral index saw the inclusion of 7-Eleven operator Philippine Seven Corp., with exclusions including DFNN, Inc., Medilines Distributors, Inc., and Harbor Star Shipping Services, Inc.

In the PSE’s DivY index, China Banking Corp. and Synergy Grid & Development Phils., Inc. joined, while Aboitiz Equity Ventures, Inc., and GMA Network, Inc. were removed.

The PSE’s MidCap index included Petron Corp. and excluded Filinvest REIT Corp.

China Bank Capital Corp. Managing Director Juan Paolo E. Colet said: “The review of the various PSE indices are intended to ensure that they maintain their quality as reliable benchmarks of stock market performance.”

“They are important to many institutional investors who create funds on the basis of such indices as well as to active investors who measure alpha or their ability to outperform the relevant indices,” he said in a Viber message.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a separate Viber message that the review helps the investing public make better trading decisions.

“The changes may reflect the recent realities, especially in terms of trading activities, in terms of daily volumes and how often the shares are traded, free float, among others to help guide the investing public, both local and foreign investors,” he said.

Meanwhile, the PSE also introduced an amendment to determine a company’s free float under its policy on index management.

Under the amendment, shares held by pension funds and government-run social security funds, such as the Social Security System and Government Service Insurance System, are now generally considered free float. Their shares are only treated as non-free float if the fund has a board seat in a company.

The PSE said the amendment seeks to “provide more clarity regarding the shares held by pension funds for strategic purposes.”

Free float, also called public float, refers to the portion of the outstanding shares that are freely available and tradable in the market, or those shareholdings that are non-strategic in nature.

The PSE requires that a company’s public float should be at least 20% of its outstanding shares at the end of the 12-month period in review.

According to Mr. Colet, the move is a “much-needed clarification” that eliminates ambiguity in the provision.

“Under the old rule, the pension funds’ shares were excluded from the free float if they were intended to exercise control over the company. The PSE has now made it more clear-cut by stating it is the fact of having a board seat that will exclude the pension funds’ shares from the free float,” Mr. Colet said.

“This will give pension funds the flexibility to build stakes of less than 10% without affecting the free float of the company as long as such funds do not occupy a board seat,” he added.

Mr. Ricafort said the amendment would provide better transparency as well as “properly determine market activities and liquidity of the shares.”

“The available public free float would better reflect that reality for those listed companies, as part of greater transparency for investors,” Mr. Ricafort said.

T-bill, bond rates may rise before Fed meet

STOCK PHOTO | Image by RJ Joquico from Unsplash

RATES of Treasury bills (T-bills) and Treasury bonds (T-bonds) on offer this week could rise as the market awaits the US Federal Reserve’s policy meeting.

The Bureau of the Treasury (BTr) will auction off P15 billion in T-bills on Monday, or P5 billion each in 91-, 182-, and 364-day papers.

On Tuesday, it will offer P30 billion in reissued three-year T-bonds with a remaining life of two years and 11 months.

Rates of T-bills and T-bonds could track the increases seen at the secondary market last week after the Bangko Sentral ng Pilipinas (BSP) chief said they could keep benchmark borrowing costs steady at their meeting next month, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

At the secondary market on Friday, rates of the 91-, 182-, and 364-day T-bills went up by 6.33 basis points (bps), 8.53 bps, and 4.17 bps week on week to end at 5.422%, 5.7508%, and 6.0408% respectively, based on PHP Bloomberg Valuation Service Reference Rates data published on the Philippine Dealing System’s website.

The yield for the three-year bond likewise rose by 6.46 bps to 6.0046%.

BSP Governor Eli M. Remolona, Jr. said last week that the central bank is unlikely to cut rates at their first policy meeting of the year amid lingering upside risks to inflation.

“At this point, a rate cut is not likely (on) Feb. 15,” Mr. Remolona said in mixed English and Filipino, adding that the “numbers we are seeing” show the need to keep policy settings sufficiently tight for some time.   

The Monetary Board hiked borrowing costs by 450 bps from May 2022 to October 2023, bringing the policy rate to a 16-year high of 6.5%.

Meanwhile, the three-year bonds could see good demand as the market awaits the Fed’s policy decision this week, a trader said in an e-mail.

The trader sees the T-bonds on offer fetching rates from 5.95% to 6.05%.

The US central bank is widely expected to keep benchmark rates at the 5.25-5.5% range for a fourth straight meeting during its Jan. 30-31 review.

The Federal Open Market Committee raised borrowing costs by a cumulative 525 bps from March 2022 to July 2023.

Last week, the BTr raised P15 billion as planned via its offering of T-bills as total bids reached P34.985 billion or more than twice the amount on the auction block.

Broken down, the Treasury made a full P5-billion award of the 91-day T-bills as tenders for the tenor reached P11.94 billion. The average rate for the three-month paper went up by 8 bps to 5.306% from the previous week. Accepted rates ranged from 5.275% to 5.5.35%.

The government also raised the programmed P5 billion from the 182-day securities as bids for the tenor reached P10.97 billion. The average rate for the six-month T-bill was at 5.766%, up by 8.1 bps from the prior week’s auction, with accepted rates at 5.743% to 5.795%.

Lastly, the BTr borrowed the programmed P5 billion via the 364-day debt paper as demand for the tenor stood at P12.075 billion. The average rate of the one-year T-bill rose by 3.8 bps to 6.037%. Accepted yields were from 6% to 6.075%.

Meanwhile, the reissued T-bonds to be offered on Tuesday were first offered on Jan. 3, where the government raised P30 billion as planned at a coupon rate of 6% and an average rate of 5.9%.

The Treasury plans to raise P195 billion from the domestic market this month, or P75 billion via T-bills and P120 billion through T-bonds.

Last week’s T-bond auction was the last for January. It raised P130 billion through bonds this month, higher than the P120-billion program, as it held tap facility auctions to accommodate strong demand for long-tenored papers.

Meanwhile, this week’s T-bills offering will be the last one for this month. The BTr has so far raised P66 billion out of the P75-billion borrowing program for T-bills.

For February, the BTr plans to raise P210 billion from the domestic market, or P60 billion in T-bills and P150 billion through T-bonds.

The government borrows from local and foreign sources to help fund its budget deficit, which is capped at 5.1% of gross domestic product this year or P1.39 trillion. — A.M.C. Sy

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