Sex worker drama Anora claims top prizes at Academy Awards

March 4, 2025 | 12:07 am

ANORA, the story of a sex worker who gets a chance at a new life when she marries a wealthy client on a whim, won five Academy Awards on Sunday, including the coveted best picture Oscar.

The movie’s 25-year-old star, Mikey Madison, was named best actress. The film also won best director for Sean Baker and trophies for original screenplay and editing.

Ms. Madison scored an upset over Demi Moore, who had been favored to win best actress for her role in The Substance.

“I grew up in Los Angeles, but Hollywood always felt so far away from me,” Ms. Madison said on stage. “To be here standing in this room today is really incredible.”

She said she wanted to “thank and honor the sex worker community.” She said, “I will continue to be an ally.”

Her Anora role also earned Ms. Madison best actress honors at the Independent Spirit Awards and Britain’s BAFTAs.

Anora director Sean Baker had been favored to win the directing award, having collected top honors from the Directors Guild of America and the Producers Guild of America, and the directing award at the Film Independent Spirit Awards.

Anora emerged as the winner in an unpredictable Oscars race that included papal thriller Conclave, Jewish immigrant story The Brutalist, and blockbuster musical Wicked.

Adrien Brody claimed his second Academy Award, winning the best actor trophy for his role as a Jewish immigrant and architect who chases the American dream in The Brutalist.

The 51-year-old New York City native had previously won for The Pianist, when he became the youngest best actor winner at age 29. Mr. Brody joins an elite group of multiple winners in this category that includes Daniel Day-Lewis, Tom Hanks, Anthony Hopkins, Jack Nicholson, and Spencer Tracy.

Mr. Brody has said his mother escaped from Hungary and moved across the Atlantic, echoing the journey of the character he plays, a modernist architect named Laszlo Toth.

“I understand a great deal about the repercussions of that on her life and her work as an artist,” he told reporters at the Venice Film Festival. Mr. Brody’s mother is the celebrated photographer Sylvia Plachy.

Zoe Saldaña was named best supporting actress for her role as the fixer for a Mexican drug lord in the Spanish-language Netflix musical Emilia Pérez.

Speaking through tears, Ms. Saldaña said her grandmother had come to the United States in 1961 and would be thrilled to see her win for a role in which she sings and speaks in Spanish. “I am a proud child of immigrant parents with dreams and dignity and hard-working hands,” she said.

Kieran Culkin, who started acting as a child, received the best supporting actor award for playing one of two cousins who travel to Poland to study their family’s roots in A Real Pain. “I have no idea how I got here,” Mr. Culkin said. “I’ve been acting all my life. I never felt like this was my trajectory.”

Winners of the gold Oscar statuettes are chosen by the roughly 11,000 actors, producers, directors and film craftspeople who make up the Academy of Motion Picture Arts and Sciences.

ISRAELI-PALESTINIAN DOCUMENTARY A WINNER
No Other Land, a film showing the alliance that develops between a Palestinian activist Basel Adra and an Israeli journalist Yuval Abraham amid their peoples’ conflict on the occupied West Bank, won the documentary feature film Oscar.

The two jointly accepted the award. Mr. Adra said: “No Other Land reflects the harsh reality that we have been enduring for decades and still resist as we call on the world to take serious actions to stop the injustice and to stop the ethnic cleansing of the Palestinian people.”

Mr. Abraham said they made the film because together their voices were stronger. “We see each other, the atrocious destruction of Gaza and its people which must end, the Israeli hostages brutally taken in the crime of Oct. 7 which must be freed.

“When I look at Basel I see my brother but we are unequal. We live in a regime where I am free under civilian law and Basel is under military law that destroys his life and he cannot control.

The prize for best animated feature went to independent film Flow, the first movie from Latvia to win an Oscar.

Brazilian drama I’m Still Here, about a matriarch whose husband is taken away by the military regime that ruled the country in the 1970s, won the Academy Award for best international feature film.

The film tells the true story of Eunice Paiva’s struggle to uncover the truth about her husband’s forced disappearance in 1971. It was directed by Walter Salles, whose 1998 film Central Station was also nominated for best foreign film, as the category was then known.

Nominees Ariana Grande and Cynthia Erivo opened the show with a Wizard of Oz-themed medley including the showstopping hit “Defying Gravity” from their film Wicked.

Timothée Chalamet who was wearing a canary yellow tuxedo, received a jab from the Oscars host, comedian Conan O’Brien. “You will not get hit on your bike tonight,” Mr. O’Brien said.

Mr. O’Brien also threatened any winners who spoke too long that he would show their old headshots or cut to a shot of actor John Lithgow “looking slightly disappointed.”

Midway through the show, Mr. O’Brien brought a group of Los Angeles firefighters to the stage and thanked them for their work during the January wildfires. He also invited them to deliver a few jokes.

“It’s great to be back with Conan,” said Pasadena Fire Captain Jodi Slicker. “Usually when he calls, he’s stuck in a tree.” — Reuters

And the winner is…

THE full list of Oscar winners at Sunday’s 97^th Academy Awards.

Best Picture – Anora

Best Director – Sean Baker, Anora

Best Actor – Adrien Brody, The Brutalist

Best Actress – Mikey Madison, Anora

Best Supporting Actor – Kieran Culkin, A Real Pain

Best Supporting Actress – Zoe Saldaña, Emilia Pérez

Best Original Screenplay – Anora

Best Adapted Screenplay – Conclave

Best Animated Feature Film – Flow

Best Animated Short Film – In the Shadow of the Cypress

Best International Feature – I’m Still Here, Brazil

Best Documentary Feature – No Other Land

Best Documentary Short – The Only Girl in the Orchestra

Best Original Score – The Brutalist

Best Original Song – “El Mal” from Emilia Pérez

Best Sound – Dune: Part Two

Best Production Design – Wicked

Best Live Action Short Film – I’m Not a Robot

Best Cinematography – The Brutalist

Best Makeup and Hairstyling – The Substance

Best Costume Design – Wicked

Best Visual Effects – Dune: Part Two

Best Film Editing – Anora

T-bills fetch mostly lower yields on inflation bets

March 4, 2025 | 12:07 am

THE GOVERNMENT made a full award of the Treasury bills (T-bills) it offered on Monday at mostly lower rates on expectations that Philippine headline inflation slowed last month and with investors swamping the offer.

The Bureau of the Treasury (BTr) raised P22 billion as planned from the T-bills it auctioned off on Monday as total bids reached P85.474 billion, almost four times as much as the amount on offer and higher than the P83.711 billion in tenders recorded on Feb. 24.

Broken down, the Treasury borrowed P7 billion as planned via the 91-day T-bills as tenders for the tenor reached P37.48 billion. The three-month paper was quoted at an average rate of 5.283%, easing by 4.6 basis points (bps) from the 5.329% seen at the previous auction, with accepted rates ranging from 5.28% to 5.358%.

The government also made a full P7-billion award of the 182-day securities as bids stood at P24.51 billion. The average rate of the six-month T-bill was at 5.61%, 6.2 bps lower than the 5.672% fetched last week, with the BTr only accepting bids with this yield.

Lastly, the Treasury raised the programmed P8 billion via the 364-day debt papers as demand for the tenor totaled P23.484 billion. The average rate of the one-year debt rose by 1.6 bps to 5.77% from 5.754% previously, with bids accepted carrying yields of 5.625% to 5.788%.

At the secondary market before the auction, the 91-, 182-, and 364-day T-bills were quoted at 5.2794%, 5.6116%, and 5.7842%, respectively, based on PHP Bloomberg Valuation Service (BVAL) Reference Rates data provided by the Treasury.

“Treasury bill average auction yields were mostly slightly lower after rising for three straight weeks after the comparable short-term PHP BVAL yields were mostly marginally lower week on week ahead of the latest local inflation data that is expected to ease from 2.9% in January,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

“T-bill auction yields are now again slightly lower versus the comparable short-term PHP BVAL yields,” he added.

Headline inflation likely slowed in February as prices of rice and other key commodities declined, analysts said.

A BusinessWorld poll of 18 analysts yielded a median estimate of 2.6% for the February consumer price index (CPI), well within the Bangko Sentral ng Pilipinas’ (BSP) 2.2%-3% forecast for the month.

If realized, February inflation would be slower than the 2.9% in January and the 3.4% clip in the same month in 2023. This would also be the slowest pace in four months or since the 2.3% recorded in October.

The Philippine Statistics Authority will release February CPI data on Wednesday (March 5).

The BTr fully awarded its T-bill offer despite the mixed yield movements as it saw “good demand as some investors are getting comfortable again on path of policy rates moving forward,” a trader said in a text message.

The BSP last month unexpectedly held benchmark interest rates steady in a “prudent” move as global uncertainties cloud the outlook for growth and inflation, leaving the target reverse repurchase rate unchanged at 5.75%.

This was the Monetary Board’s first pause following three consecutive 25-bp cuts since it began its easing cycle in August 2024.

BSP Governor Eli M. Remolona, Jr. said uncertainty over the trade policy of US President Donald J. Trump and its potential impact on the Philippines led to the decision to keep rates unchanged for now. However, he said the BSP continues to be in an easing cycle, with the pause letting the central bank hedge itself against the risk of policy reversal.

He added that the central bank will likely continue reducing interest rates by 25 bps at a time, with 50 bps in cut for this year still likely.

The Monetary Board’s next policy meeting is on April 3.

Analysts likewise expect the BSP to stay in monetary easing mode, with some expecting a rate cut next month, as weak economic growth, manageable inflation, and likely limited impact from Mr. Trump’s tariff policies giving the central bank ample policy space.

On Tuesday, the BTr will offer P30 billion in reissued seven-year Treasury bonds (T-bonds) with a remaining life of five years and four months.

The Treasury is looking to raise P147 billion from the domestic market this month, or P22 billion from T-bills and P125 billion from T-bonds.

The government borrows from local and foreign sources to help fund its budget deficit, which is capped at P1.54 trillion or 5.3% of gross domestic product this year. — A.M.C. Sy

Fruitas plans more acquisitions

March 4, 2025 | 12:06 am

FOOD and beverage kiosk operator Fruitas Holdings, Inc. said it hopes to continue its acquisition spree as it expands its brand portfolio.

“What we are looking at would still be along the lines of our businesses,” Fruitas Chief Financial Adviser Calvin F. Chua said during the Money Talks with Cathy Yang program on One News Channel when asked about the company’s acquisition plans.

“Beverages would be one, and maybe extending into food-based products and using that to supplement the product mix in our community stores,” he added.

In January, Fruitas said it had earmarked P500 million for its capital expenditure (capex) budget this year, with 10% allocated for brand acquisitions and development.

It added that 50% of the budget is for commissary infrastructure and logistics upgrades, while 40% is for store expansions. The company aims to open 100 stores this year.

In November last year, Fruitas acquired a 60% stake in the Mang Bok’s brand for P8.86 million, marking its entry into the roasted chicken segment.

Fruitas’ subsidiary Balai ni Fruitas, Inc. also completed its purchase of the Sugarhouse cake and pastry brand in May last year.

In 2023, Fruitas acquired the Ling Nam noodle house brand and the Fly Kitchen cloud kitchen company.

Meanwhile, Mr. Chua said the company’s planned P100-million share buyback program allows for potential partnerships.

“If there’s somebody who might want to enter the company later on at higher valuations, we won’t shy away from realizing value. If you look at foreign investors in the country, food, beverage, and healthcare would probably be at the top of the list,” he said.

Last month, Fruitas said its board approved the share buyback program to boost shareholder value.

As of end-2024, Fruitas had a 40.75% public float, equivalent to 869.38 million publicly owned shares.

Fruitas said the share buyback program could potentially acquire 163.93 million shares based on the company’s closing share price of 61 centavos apiece on Jan. 31.

Once the share buyback program is completed, Fruitas said its public float could drop to 35.81%, corresponding to 705.45 million publicly owned shares.

Fruitas has 2.13 billion issued, outstanding, and listed shares. The share buyback program could potentially reduce its outstanding shares to 1.97 billion.

The share buyback program will have an initial term of one year, which could be extended upon board approval, Fruitas said.

On Monday, Fruitas shares fell by 1.49% or one centavo to 66 centavos each. — Revin Mikhael D. Ochave

Oscars red carpet features sculptural and shiny gowns and some props

March 4, 2025 | 12:06 am

LOS ANGELES — Wicked star Ariana Grande walked the Oscars red carpet on Sunday in a sculptural flared pink top and a tulle skirt by Schiaparelli, one of several actors to make bold fashion statements.

Whoopi Goldberg wore a shiny blue gown with a flared skirt, while British actress Yasmin Finney sported a black dress featuring feathery attachments that shot over her head.

A Complete Unknown star Elle Fanning chose a lacy white gown with a full skirt and black belt, while The Brutalist best supporting actress nominee Felicity Jones wore a silver dress with slits and a tie around the waist.

Demi Moore, favored to win best actress for The Substance, won a sparkling silver gown with a train flowing behind her.

Zoe Saldaña, a favorite to win best supporting actress for her turn in Emilia Pérez, wore a multi-tiered maroon dress with a sparkling top and long gloves on her arms.

A Complete Unknown best supporting actress nominee Monica Barbaro won a voluminous high-waisted pink skirt with a sparkly top.

Halle Berry wore a strapless silver gown with shiny small tiles running down the dress, while Gal Gadot chose a bright red gown with a full skirt.

Among the men, the black tuxedo was popular and Oscars host Conan O’Brien sported one. But Jeff Goldblum picked a white jacket and a floral purple shirt with purple flowers attached to his lapel.

A Complete Unknown best actor nominee Timothée Chalamet chose a lemon yellow suit and shirt.

Colman Domingo, nominated for best actor for Sing Sing, amped up his look with a bright red jacket and shirt and black lapels to go with the black trousers.

Comedian Bowen Yang wore a pink shirt and an embroidered leather jacket with no tie.

The creators behind the animated film Wallace & Gromit: Vengeance Most Fowl carried props related to their film, and one of the directors of the documentary feature about Ukraine, Porcelain War, carried a small dog in his arms. — Reuters

Security Bank books record 2024 income

March 4, 2025 | 12:06 am

SECURITY BANK Corp. saw its net profit rise by 23.4% to an all-time high in 2024, driven by record revenues.

The bank’s attributable net income climbed to a record P11.24 billion last year from P9.11 billion in 2023, it said in a disclosure to the stock exchange on Monday.

“This is on the back of the bank achieving record-high total revenues of P54.9 billion, up 28% year on year,” it said.

This translated to a return on equity of 8.11%, up from 6.95% in 2023, while return on assets was at 1.12%, rising from 1.06% a year prior.

In the fourth quarter alone, Security Bank booked a net income was P2.8 billion, up 81% year on year, with revenues rising by 27% to P14.9 billion.

“Growth and investment were the defining outcomes for 2024. We thank our clients, teammates and stakeholders for the partnership and collaboration. We carry that momentum into 2025 as we leverage our investments to support clients and execute on our BetterBanking promise,” Security Bank President and Chief Executive Officer Sanjiv Vohra said.

The bank’s net interest income climbed by 25.9% to P43.72 billion last year, mainly driven by higher interest earnings from loans amid the elevated rate environment.

Net interest margin went up to 4.73% from 4.49%.

Non-interest income rose by 36.3% to P11.2 billion as service charges, fees and commissions grew 47% to P8.9 billion amid higher fees from bancassurance, credit cards and loans.

On the other hand, Security Bank’s operating expenses climbed by 26.8% to P39.69 billion due to increased investments in manpower and technology.

This resulted in a cost-to-income ratio of 60.23% last year, inching down from 60.75% a year prior.

The bank also set aside P6.6 billion in provisions for credit and impairment losses in 2024, up from P4.8 billion in 2023.

Security Bank’s net loans grew by 25.9% year on year to P677.8 billion in 2024.

“Retail and MSME (micro, small and medium enterprises) loans combined sustained its growth, up 37% year on year. Wholesale loans accelerated to 21% growth rate year on year from the 19% posted in the third quarter of 2024. The growth in retail and MSME loans was driven by home loans which grew 19% year on year, credit cards which rose 64%, auto loans which grew 54%, and MSME loans which grew 54%,” it said.

“Retail and MSME loans as percent of total loans was at 32%, up from 29% a year ago. Total investment securities increased to P338 billion, up 49% year on year,” it added.

Despite the increase in loans, the bank’s gross nonperforming loan (NPL) ratio improved to 2.85% last year from 3.37% in 2023.

NPL reserve cover was at 80.76%.

On the funding side, total deposits grew by 32.1% to P801.1 billion in 2024, with current account, savings account or CASA deposits rising by 16%. Its CASA ratio stood at 52%.

The loans-to-deposit ratio stood at 84.61% in 2024, down from 88.76% the year prior.

Security Bank’s assets grew by 29.6% to P1.13 trillion at end-2024.

Total equity also increased by 3.68% to P141.14 billion. Its capital adequacy ratio stood at 13.84% in 2024, down from 16.19% a year prior, while its common equity Tier 1 ratio was at 12.94%, declining from 15.30% in 2023.

Its liquidity ratio was at 36.40%, up from 34.74% in 2023.

“The bank maintains healthy liquidity, with liquidity coverage ratio at 178% and net stable funding ratio at 130% as of Dec. 31, 2024,” it added.

It opened 21 new branches in 2024, expanding its network to 346 branches as of end-2024.

Security Bank’s shares rose by 90 centavos or 1.28% to close at P71 each on Monday. — A.R.A. Inosante

RLC unveils first EV charging station, plans to build 2,000 more in five years

March 4, 2025 | 12:05 am

ROBINSONS Land Corp. (RLC) said it plans to build 2,000 electric vehicle (EV) charging units within five years to support the transition to electric mobility.

“After this first installation at GBF Center, Robinsons Land plans to extend the GoCharge network by partnering with EV and energy industry leaders to deploy chargers across its various developments nationwide within the next two years, with a vision to expand to 2,000 charging units within five years,” the company said in a statement on Monday.

“By investing in advanced EV-charging infrastructure, Robinsons Land not only supports the shift to electric mobility but also solidifies its role as a true champion of meaningful sustainability,” it added.

On Feb. 28, Robinsons Land unveiled its first EV charging station, GoCharge, located at GBF Center 1 in Bridgetowne Destination Estate, Quezon City.

RLC initially deployed green energy-powered car and motorcycle chargers, powered by solar panels supplied by EV dealer Wuling Philippines.

Apart from the standard charging units offering 220 volts (V)/32 amperes (A) at 7 kilowatts (kW), which provide a full charge in six to seven hours, the new GoCharge hub also includes fast-charging units delivering 400 V with 114-228 A at up to 200 kW, allowing vehicles to charge in as little as 30 minutes.

“I believe RLC and Wuling share a vision of creating a more sustainable and future-ready Philippines. As with Wuling, RLC is deeply committed to innovation and excellence,” Robinsons Land President and Chief Executive Officer Mybelle V. Aragon-GoBio said during the launch.

The partnership is part of RLC’s advocacy to make EV ownership more convenient and accessible to Filipinos, said Robinsons Land Senior Vice-President Jericho P. Go.

“For an ordinary Filipino family, the savings on ever-rising fuel costs can make a significant difference in their daily life. That money could be redirected to more nutritious food, paying bills, children’s allowances, improved education, healthcare, or even expanding a business,” Mr. Go said.

“With more affordable mobility and reduced expenses, we can help level the playing field and truly improve lives.”

Robinsons Land said it is open to collaborating with other leading EV brands for future GoCharge stations to expand its reach and provide the best technologies for its customers. — Beatriz Marie D. Cruz

Workout studio Ultra Lagree brings in a new kind of fitness

March 4, 2025 | 12:05 am

CARDIO, weight, and strength training tend to involve a lot of different workout regimens. For fitness-minded Filipinos, this makes working out quite demanding both physically and in terms of schedule — but not in the 45-minute class Ultra Lagree.

“Basically it’s low impact, high intensity. You sweat even if you’re moving really slow because the focus of it is the smaller muscle groups, the slow-twitch muscles,” said Ultra Lagree coach Jai Lawan, who is an accredited master trainer.

Unlike lifting weights at the gym, which utilizes “fast-twitch muscles,” Ultra Lagree targets muscles that people don’t usually use.

Ms. Lawan is just one of the many instructors teaching at the Ultra Lagree workout studio, located in three different locations in Metro Manila. These are at Mitsukoshi Mall in Bonifacio Global City, Taguig; Estancia Mall in Capitol Commons, Pasig City; and the Bonavida Center in Barangay Laging Handa, Quezon City.

BusinessWorld was able to try out one of the sessions to see what Ultra Lagree is like. The class, held in the Estancia branch, had five participants.

The Megaformer machine is at the center of the workout. It is a piece of fitness equipment that one gets on top of to do the various exercises, with adjustments moving the rear and front platforms as needed for each position.

Before the class, first-timers are given a brief overview of how to adjust the Megaformer, which is helpful. But as soon as the workout starts, it is unavoidable to feel overwhelmed by the machine and how fast others in the class seem to work it. It takes a few minutes for a newbie to actually catch up and be on time with the others, especially for those cautious about being out of balance or even falling off.

Be it lunges or planks, Megaformer users are challenged to stabilize themselves during movements and activate the slow-twitch muscles that Ms. Lawan was talking about. It’s perfect for those with back problems like scoliosis and the like, since the low-level impact doesn’t put pressure on the joints and connective tissues.

Because it takes place within just 45 minutes, Lagree is a mix of time under tension — and afterwards, people feel as if they had come from a bodybuilding workout.

FOR VARIOUS FITNESS LEVELS
Established by Sebastian Lagree in 2006, Ultra Lagree now has three branches in the Philippines as of this year. The idea of bringing Lagree to the country began after couple Harold and Ela Lee experienced their first class in Los Angeles in 2018.

“We knew it wasn’t going to be simple to grow a Lagree community since it is a specialized workout that was quite hard for some to understand, but we succeeded in offering high quality classes, urging people to give it a try, and maintaining a welcoming atmosphere to give all our clients a personalized service,” said Ultra Lagree proprietor Mr. Lee in a statement.

Ms. Lawan added that the reason they’ve found success so far is the fact that Lagree “meets diverse workout demands, regardless of fitness levels, ages, and body types.”

A Lagree session involves a maximum of seven participants, because the instructor must keep an eye on each one to guide their use and proper form on the Megaformer machines.

“I remember when I was new, I had a client who was a CrossFit and boxing trainer. He was really big and I was worried because he might have an easy time — but in the first few minutes on the machine, he was shaking!” Ms. Lawan said.

“That’s when I realized Lagree is different. It utilizes different muscles that we don’t normally use,” she explained.

Whether for beginners or experienced fitness buffs, combining resistance training and cardio into one workout has its benefits. The obvious one felt afterwards is how the muscles are refreshingly sore from stretching and contracting while maintaining balance.

Ms. Lawan recommended that everyone at least try it once — though it will take two or three sessions to get fully comfortable with the machine.

“It may look intimidating, but every workout challenges everyone to step outside the comfort zone to be stronger and better,” she said. — Brontë H. Lacsamana

For more information, visit www.ultralagree.ph or ultralagree.ph on Facebook and Instagram.

BPI expects to complete rebranding of Robinsons Bank branches by October

March 4, 2025 | 12:05 am

BANK of the Philippine Islands (BPI) expects to finish rebranding all branches of Robinsons Bank Corp. (RBC) by October.

“By October, all Robinsons Bank branches will be branded as BPI. So, you won’t see any Robinsons branches by October,” BPI Executive Vice-President and RBC President and Chief Executive Officer Elfren Antonio S. Sarte told reporters last week.

As of June 2024, BPI had 865 branches while RBC had 157.

The merger between BPI and RBC took effect on Jan. 1, 2024, with BPI as the surviving entity.

BPI Chief Executive Officer Jose Teodoro K. Limcaoco said in January that all RBC branches should be rebranded by the end of the year, saying a “couple” of branches have been integrated already.

Mr. Sarte said there are more than 150 more RBC branches that needed to be converted as less than 10 branches have undergone rebranding.

BPI’s integration of RBC into its network is being done in tranches, he said.

“It’s really more managing the transition. We’re either consolidating or transferring. There will be some that will be transferring to the BPI side, some that consolidate, or there will be some that will be using the Robinsons Bank side to host BPI. So, it’s more of trying to rationalize which will be good for the customers of both banks,” he said.

Mr. Sarte said that the conversion of RBC’s branches would virtually complete the integration of the bank into BPI’s network.

RBC’s contribution to BPI’s asset base is at roughly P180 billion, which is equivalent to about 6% in terms of assets and income, he added.

“The estimate is that we contribute about 6% to the entire BPI in terms of assets and income. That’s the scale. Because once we ended, we were transferring P180 billion in assets to BPI. That’s not very big considering the scale of BPI,” Mr. Sarte said.

BPI’s total assets stood at P3.35 trillion as of end-2024.

The listed bank’s net profit rose by 20% year on year to a record-high P62 billion last year, driven by double-digit revenue growth.

BPI shares rose by P2.70 or 2.17% to end at P127 apiece on Monday. — Aaron Michael C. Sy

Are you ready for 2030?

March 4, 2025 | 12:04 am

crowd-question-mark-isometric-design-concept — FREEPIK

I remember the Y2K phenomenon when right before the year became 2000, everyone was nervously waiting for the start of the millennium because people said computers could blow up, files may forever be lost, and anything we had saved in our laptops would disappear into thin air. Well, guess what? We are still here 25 years after that “fateful” prediction about what would happen at midnight when Dec. 31, 1999 would become Jan. 1, 2000. We waited with bated breath and then nothing happened. What did happen is that we learned to adapt to QR codes, e-mails, and chat groups. Depending on which country or area of the world you are in, you would need a messaging platform like Viber, WhatsApp, Messenger, Line, and WeChat.

How about the road to 2030? What can we expect five years from now? Will the Earth cook due to a warmer climate, will the seas combine and land shrink? We need to prepare for another way of life after 2030 because it looks like we are not going to solve the Climate Crisis in such a short time. So, just the way we feared the year 2000 or the millennium, here we go with 2030 and Climate Change. What must we do then?

For the next five years, we will have to adapt, change our ways, and think of a new world because, as we speak, it is already changing. Just like everyday life, we now must adjust to ordering from robots or using our phones to place an order from a restaurant. (Almost) everything we need is available online, making brick and mortar stores irrelevant. Everything we need to file with the government has to be done online, and payments are now mostly cashless for ease and security.

We, the Boomers, have seen the biggest changes over many decades, from rotary phones to mobile phones, from reel tape recorders to Spotify, from 8mm films to Netflix. And we will still be here to see what will happen in five years or 2030 — knock on wood. I am happy I was born the time I was because I saw the changes happening before my very eyes and how human nature just adapts without complaints. Like they say, those who don’t adapt will die.

We now see five years as our end goal to reverse Climate Change, to fulfill the United Nations Sustainable Development Goals (UNSDGs), which used to be the Millennium Development Goals (MDGs) until the millennium came and nothing yet had changed. We see the next five years as our chance to see a better world — if we start to act now.

In the corporate world, we see many more changes, such as: work from home arrangements, talent acquisition challenges, and increasing wages due to inflation. How do we address these changes in the next five years? Many have seen 2030 as our date to beat and that will come sooner than later.

Maybe what will really change is the way the world will operate. We will not disappear in 2030, but we will see new institutions, new rules, and new laws. Already, we are seeing companies merging, instead of competing. We are seeing new forms of government or what seems to be a new way of dealing with global powerhouses. Can you live without the USA, or can you live without China? As global boundaries have disappeared e-commerce wise, we will soon find that all this jockeying for power will soon be a thing of the past. Everyone must learn to live with what used to be foreign and, as they say, be “glocal” — a term we started to use when the internet started to blur boundaries. Thinking global but remaining local.

Even in poor countries, like the Philippines and India, the internet and social media have allowed people to learn and to know about what happens everywhere and overseas. Transparency has happened without forcing it, only because social media has made everything public and transparent.

While everything has become transparent, it has also become very public and only the very few can afford to have privacy. Your digital footprint says it all. If you wish to know someone, just “Google” them and you will get instant information about them.

So, what must we do going towards 2030?

Let’s make sure our companies follow the path of honesty and integrity. If you are to survive, you must walk the talk, be a real person and a real honest company.

Let’s make sure our companies have a role in saving the planet by observing eco-friendly practices, even when no one is looking.

Let’s make sure our people are prepared to work from home, if need be, towards building better and closely-knit families.

Let’s change the tide of migration towards reintegration of our OFWs, to have them come back and serve the country.

Let’s keep our talents well-paid at home to serve our countrymen — our teachers, doctors, and nurses must not see immigration as their ticket to success.

Let’s grow our own food and work towards food security, down to the smallest social unit which is the family.

Yes, 2030 is a mere 1,500 days or so away, but we can work towards building a better future with home-grown talents, less imports, and going back to basics. All these can be done even while our digital natives have made our systems more efficient, transparent, and public. One day at a time, one company at a time. We all need to change and adapt, or die.

It is going to be a new world. What will be destroyed is the old world filled with dishonesty and discord. And we will wake up to a new world order, sooner than later. We have to do our part now so we can face 2030 squarely in the face.

So, let’s wrap our arms around technology and embrace it with a positive attitude. Whether in biotech or AI, technology will help us reach this milestone and deal with the new world by 2030.

This article reflects the personal opinion of the author and does not reflect the official stand of the Management Association of the Philippines or MAP.

Chit U. Juan is the co-vice chair of the MAP Environment Committee. She is also the president of the Philippine Coffee Board, Inc. and Slow Food Manila (www.slowfood.com).

map@map.org.ph

pujuan29@gmail.com

SMPC posts 30% profit decline on weaker selling prices

March 4, 2025 | 12:04 am

CONSUNJI-LED Semirara Mining and Power Corp. (SMPC) reported a 30% decline in net income to P19.6 billion for 2024 due to lower coal and electricity selling prices.

“The effect of weaker selling prices was cushioned by record-high coal shipments and power generation, increased electricity sales, and a lower government share,” SMPC said in its financial statement released on Monday.

Revenues fell by 15% to P65.19 billion from P76.96 billion a year ago, primarily due to lower selling prices for both coal and electricity. Increased sales volume provided some relief.

Operating expenses rose by 12% to P4.81 billion from P4.30 billion in 2023 due to higher taxes, insurance premiums, maintenance costs, and office renovations.

“Despite price corrections, we focused on key factors within our control — maximizing production, achieving record-high coal shipments and power generation. Our disciplined strategy and dedicated team played a crucial role in navigating energy market shifts,” SMPC President and Chief Operating Officer Maria Cristina C. Gotianun said in a media release.

In 2024, SMPC recorded 16.5 million metric tons (MT) in coal shipments, driven by stronger demand from China and domestic markets.

The company hit its maximum coal production of 16 million MT for the third consecutive year, while gross power generation totaled 5,358 gigawatt-hours (GWh).

For the fourth quarter, SMPC’s earnings declined by 26% to P3.9 billion from P5.3 billion in the same period last year, citing a weaker contribution from the coal segment, while the power segment remained relatively stable.

From October to December, total revenues stood at P15.52 billion, 25% lower than P20.76 billion previously, mainly due to lower coal shipments and selling prices.

Standalone coal revenues plunged by 32% to P11.80 billion. Total coal shipments dropped by 19% to 4.3 million MT due to lower production and a limited inventory of commercial-grade coal.

The average Newcastle Index during the period climbed by 2% to $135.6, while the Indonesian Coal Index fell by 12% to $51.8.

Semirara coal’s average selling price declined by 15% to P2,821 per MT, attributed to stabilizing market prices and a higher proportion of lower-grade coal shipments.

Coal production decreased by 31% to 2.9 million MT due to pre-stripping activities at two new blocks in the Narra mine.

For the power business, standalone revenues rose by 10% to P5.08 billion, supported by improved average capacity and electricity sales despite a 3% decline in the average selling price.

Total gross generation improved by 8% to 1,290 GWh as additional capacity was generated following the restoration of SEM-Calaca Power Corp. Unit 2’s dependable capacity to 300 megawatts in May last year.

As a result, power sales grew by 13% to 1,223 GWh, with 56% of generated electricity sold to the spot market.

The average selling price from bilateral contracts rose by 15% to P4.70 per kilowatt-hour (kWh), while the spot market price fell by 15% to P3.73 per kWh.

SMPC is the only vertically integrated power generator in the country that runs on its own fuel. The company supplies fuel to power plants, cement factories, and other industrial facilities across the Philippines. It also exports coal to China, South Korea, Brunei, and other nearby markets.

At the local bourse on Monday, shares in the company inched up by 0.13% to close at P37.40 apiece. — Sheldeen Joy Talavera

Marvel’s Daredevil: Born Again brings back beloved characters

March 4, 2025 | 12:04 am

Dark superhero show premieres on Disney+

ALMOST seven years since the Netflix Daredevil series ended, comic-book fans are bracing themselves for the action crime drama to return — this time under Disney.

From 2015 to 2018, Charlie Cox and Vincent D’Onofrio brought to life the characters Matt Murdock/Daredevil and Wilson Fisk/Kingpin, respectively. Their few yet explosive clashes as a blind lawyer-slash-masked vigilante and as a crime boss-turned-mayor will be the center of the new show.

Actors and characters that appeared in the original series will also show up: Deborah Ann Woll as Karen, Elden Henson as Foggy, Ayelet Zurer as Fisk’s wife Vanessa, Wilson Bethel as Dex/Bullseye, and Jon Bernthal as Frank Castle/Punisher.

Following built-up anticipation over the past few years, Daredevil: Born Again will premiere on March 5 on Disney+, with eight episodes in total. A new episode will be released each week.

The series’ newcomers are Margarita Levieva, Michael Gandolfini, Zabryna Guevara, Nikki M. James, and Jeremy Earl.

While there is a pressure to live up to what the original comics and the first few seasons of television had done before, this refreshed take will bring something new to the table, according to showrunner and executive producer Dario Scardapane.

“The thing about Daredevil is the mix of heart and muscle. They’re battling each other, so you have to find that kind of humanity through the action that’s trying to reset the bar for television,” Mr. Scardapane said at a press conference on Feb. 23 that was livestreamed from the United States.

“There’s really high octane action, moments of depth of character, and these two grinding at each other from across the city,” he added.

Even the trailer teases this dynamic, with Murdock and Fisk having a tense meeting at a diner and discussing how much time has passed since their last encounter.

On playing a blind lawyer by day and masked vigilante by night — now with traumas from events in the previous series — Mr. Cox said that the Daredevil has had to “rethink and refine his identity in a way that’s probably more profound than we’ve seen before.

“He ends up going down a path that is best described as a band aid that will have to be ripped off, slowly and painfully,” he said. “For fans of the original show, it’s the same Matt Murdock essentially, just influenced by his experiences.”

For Mr. D’Onofrio, whose character embodies “the kind of badness that makes crime mob stories so appealing to people,” Fisk’s struggle is similar to the main character’s, but of a different flavor.

“We’re trying to live in the daylight, the two of us. We have that in common. We’re broken men. There’s the metaphor of vampires trying to live in the daylight,” he explained.

Both Mr. Cox and Mr. D’Onofrio spoke of a “sense of trust” between them in the five or six scenes they share throughout the season.

The latter said: “You can’t put us together in the same scene a lot because it’s not as powerful, but it’s always so good every time we do it. It always marks the beginning of something or the end of something, or both sometimes. It’s intense.”

As for managing expectations of people who already love and followed the characters from comic book to screen, Mr. Cox said that there is nothing to worry about.

“There’s a thirst when we speak to fans, for that dark quality, that identity or fabric of the show that we’ve had in the past that we can’t necessarily articulate,” he said.

“It’s a worried desire if that quality is gonna be there, and I think it is.”

Daredevil: Born Again is out now on Disney+. — Brontë H. Lacsamana

Sun Life Philippines, Pioneer Insurance top life and nonlife insurers in premiums in 2024

March 4, 2025 | 12:04 am

SUN LIFE of Canada (Philippines), Inc. (Sun Life Philippines) and Pioneer Insurance and Surety Corp. were the top life and nonlife insurers in 2024 in terms of premium income, data from the Insurance Commission (IC) showed.

Sun Life Philippines posted the highest premium income among life insurers last year at P57.155 billion, while Pioneer Insurance booked P6.28 billion in net premiums written to top the nonlife sector, IC rankings based on firms’ submissions of unaudited enhanced quarterly reports on selected financial statistics showed.

“To be the number one life insurance company is a tremendous honor for Sun Life, more so as we celebrate our 130^th anniversary of serving the Filipino nation. This remarkable achievement is a testament to the trust and support of our clients. It also reflects the hard work and dedication of Sun Life employees and advisors, and their relentless pursuit of excellence in serving our clients,” Sun Life Philippines Chief Executive Officer and Country Head Benedict C. Sison said in a statement on Monday.

“With total earned premiums amounting to P57.15 billion, Sun Life bested the nearest competitor by more than P9 billion, establishing itself as the market leader for the 14^th year in a row. In addition, Sun Life ranked number one in net income, invested assets, and total assets,” the company added.

LIFE INSURERS
In terms of premium income, Pru Life Insurance Corp. of UK (Pru Life UK) was ranked second among life insurance firms with P48.15 billion, followed by FWD Life Insurance Corp. (FWD Life Philippines) with P39.85 billion, Allianz PNB Life Insurance Inc. with P32.13 billion, with AXA Philippines Life and General Insurance Corp. (AXA Philippines) rounding out the top five at P26.55 billion.

BDO Life Assurance Co., Inc. (BDO Life) recorded the sixth-highest premium income in 2024 at P19.69 billion, followed by The Insular Life Assurance Co., Ltd., (Insular Life) at P18.46 billion, and BPI-AIA Life Assurance Corp. (BPI-AIA Life) at P17.7 billion.

The Manufacturers Life Insurance Co. (Phils.), Inc., (Manulife Philippines) was in ninth place at P15.83 billion, while Sun Life Grepa Financial, Inc. rounded out the top 10 with a premium income of P14.49 billion.

Meanwhile, based on net income, Sun Life Philippines topped life insurers with P10.98 billion, followed by BPI-AIA Life at P4.81 billion, BDO Life at P4.26 billion. Pru Life UK at P3.72 billion, and the life unit of AIA Philippines Life and General Insurance Co. Inc. (AIA Philippines) with P3.53 billion.

In terms of new business annual premium equivalent or NBAPE, Pru Life UK was the top life insurer with P9.83 billion, followed by Sun Life Philippines with P8.96 billion, FWD Life Philippines at P7.74 billion, BPI-AIA Life at P5.31 billion, and BDO Life with P4.69 billion.

Meanwhile, AIA Philippines’s life unit had the highest net worth among life insurance companies at P55.94 billion, followed by Sun Life Philippines at P52.42 billion, Insular Life at P43.09 billion, BDO Life with P24.01 billion, and Manulife Philippines at P16.88 billion.

Sun Life Philippines was the largest life insurer in terms of assets at P328.79 billion, followed by AIA Philippines’ life unit with P256.35 billion, AXA Philippines with P174.49 billion, Insular Life at P155.92 billion, and Pru Life UK at P148.49 billion.

The life insurance sector’s premium income grew by 13.56% to P352.02 billion in 2024 from P309.99 billion, according to IC data based on submissions of 31 out of 35 licensed companies.

NONLIFE INSURERS
Meanwhile, in terms of net premiums written (NPW), Malayan Insurance Co., Inc. was the second top performer among nonlife firms with P5.36 billion, followed by Prudential Guarantee & Assurance, Inc. (PGA) at P4.29 billion, Stronghold Insurance Co., Inc. (Stronghold Insurance) at P4.11 billion, BPI/MS Insurance Corp. (BPI/MS Insurance) at P3.15 billion.

Standard Insurance Co. Inc. was in sixth place with P3.08 billion, followed by Pacific Cross Insurance, Inc. with P2.81 billion, Mercantile Insurance Co., Inc. at eighth place with P2.62 billion, the nonlife unit of AXA Philippines at ninth with P2.14 billion, and with the nonlife unit of Paramount Life & General Insurance Corp. rounding out the top 10 with P2.02 billion in premium income.

Based on net income, Insurance Company of North America was the top performer at P585.75 million, followed by Pioneer Insurance with P529.52 million, Standard Insurance with P433.75 million, Stronghold Insurance with P431.92 million, and Petrogen Insurance Corp. with P431.92 million.

Meanwhile, Pioneer Insurance had the highest net worth among nonlife insurers in 2024 at P18.24 billion, followed by Malayan Insurance at P6.03 billion, Standard Insurance at P4.95 billion, Petrogen Insurance with P4.45 billion, and Travellers Insurance & Surety Corp. with P4.41 billion.

Pioneer Insurance was also the largest nonlife insurance company in terms of assets with P54.8 billion, followed by Malayan Insurance with P40.92 billion, PGA with P20.57 billion, BPI/MS Insurance with P17.75 billion, and Standard Insurance with P10.86 billion.

The combined net premiums written of nonlife insurers grew by 10.49% year on year to P71.84 billion in 2024, IC data based on submissions of 55 out of 59 licensed firms showed. — Aaron Michael C. Sy

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