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IMF: AI may boost Philippine labor productivity

FREEPIK

By Keisha B. Ta-asan, Reporter

THE SHIFT to artificial intelligence (AI) technologies could increase labor productivity in the Philippine service sector, the International Monetary Fund (IMF) said. 

“Because of the Philippine economy’s early structural transformation to a service-based economy, raising the level of service sector labor productivity through digital skills and portability will be essential,” IMF Resident Representative to the Philippines Ragnar Gudmundsson said in an e-mail. 

“This will require upskilling of the labor force to leverage artificial intelligence tools and continue to move up value chains, as well as efforts to develop the country’s digital infrastructure especially outside urban centers,” he added.

Mr. Gudmundsson said the IMF is working on a study on how AI technologies could affect the Philippines.

Last week, the IMF said AI could affect nearly 40% of global employment. While it is seen to complement human work, it might replace other jobs and would likely worsen economic inequality. 

It said about 60% of jobs in advanced economies are exposed to AI. About half of these jobs will benefit from AI integration by boosting labor productivity.

But the other half showed that AI could perform tasks done by humans, effectively lowering labor demand and leading to lower wages and reduced hiring, the IMF said.

In emerging markets and low-income countries, AI exposure is expected at 4% and 26%, respectively.

“These findings suggest emerging market and developing economies face fewer immediate disruptions from AI,” IMF Managing Director Kristalina Georgieva earlier said.

“At the same time, many of these countries don’t have the infrastructure or skilled workforces to harness the benefits of AI, raising the risk that over time the technology could worsen inequality among nations,” she added. 

Senti AI Founder and Chief Executive Officer Ralph Vincent J. Regalado cited risks in jobs that can be automated with technology.

“Given the rise of generative AI technologies, we’ve seen that adoption has increased and most observed that it aids productivity,” he said in an e-mail. “It’s important that we invest in the education of our people, teaching them how to use these technologies to boost their work and be competitive in the job market.”

Mr. Regalado noted that companies and organizations should support affected employees by helping them acquire new skills.

AI would likely affect several industries including the technology, banking and the pharmaceutical and medical product sector, he said.

STATE SUPPORT
“The sectors identified by the IMF in high-income countries would also be the same here in the Philippines,” he said. “Mid- and high-level positions can definitely increase their productivity by using AI tools to offload some of their tasks.”

AI can enhance public services, modernize finance and boost the agriculture and healthcare sectors, according to the IMF report.

Regardless of the industry, any job that requires menial, low-level tasks that can be digitalized will be affected the most by AI, Mr. Regalado said. These include sales, customer service and data encoding jobs.

“This is not to say that all workers in these lines of work will be removed,” he said. “Companies that use conversational AI to handle inbound calls or customer chats may employ fewer workers to just monitor the logs and intervene if the customer requests a human agent.”

“Finance and accounting departments can spend less on staff manually encoding paperwork and just have them double-check the accuracy of data extracted through Document AI,” he added.

However, the Philippines is behind advanced economies due to the lack of infrastructure and manpower, Mr. Regalado said.

Businesses might also find it more expensive to invest in a new system versus relying on human labor, he added.

The Philippines fell 11 places to 65th out of 193 countries in the 2023 Government AI Readiness Index by Oxford Insights. It scored 51.98 out of 100, higher than the 44.94 global average.

Mr. Regalado said the government should lead in advocating AI adoption.

“Investing more in AI companies and research is one way,” he said. “The public sector shouldn’t shy away from collaborating with the private sector to look into ways the Philippines can benefit from increased AI adoption.”

The government should improve infrastructure to accommodate AI, including stable energy and internet connections.

“Mandating and even providing incentives to encourage businesses and government agencies to adopt and use tools that can improve productivity is another good idea,” Mr. Regalado said.

PCC clears sale of ABS-CBN’s Sky Cable to PLDT

PHILIPPINE STAR/ MIGUEL DE GUZMAN

By Revin Mikhael D. Ochave, Reporter

THE Philippine Competition Commission (PCC) has approved the sale of Sky Cable, a subsidiary of media company ABS-CBN Corp., to telecommunications giant PLDT Inc.

Competition watchdog PCC gave the go-signal for Sky Cable to be sold to Pangilinan-led PLDT, ABS-CBN said in a disclosure to the stock exchange on Monday. Sky Cable provides broadband, enterprise cable broadband, pay television, and cable services.

The Lopez-led media company said the deal involves the sale of 100% of Sky Cable’s total issued and outstanding capital stock to PLDT, “subject to a number of closing conditions.”

“ABS-CBN will disclose material information to update the disclosure made to the exchange on March 16, 2023 once they become available,” it said.

In a separate stock exchange disclosure, PLDT said that the proposed transaction will not be implemented until all closing conditions are fulfilled.

In March of last year, PLDT announced its plan to acquire Sky Cable for P6.75 billion, aiming to expand its coverage and services.

The transaction involves the sale of about 1.38 billion common shares at P4.90 apiece, with the purchase price based on the agreed equity valuation of Sky Cable’s shares as of Dec. 31, 2022.

China Bank Capital Corp. Managing Director Juan Paolo E. Colet welcomed the news, saying it is positive for ABS-CBN investors.

“This deal is particularly important to ABS-CBN as the proceeds will be used to reduce the company’s debt load, and the divestment will free up management’s time and resources to focus on content creation and explore new business opportunities,” he said in a Viber message.

He also said the move will not result in competition issues, adding that Sky Cable is not expected to have a material impact on PLDT’s financial performance in the near term.

“The remaining major players in the industry are already highly competitive as it is,” he said.

April Lynn Lee-Tan, chief equity strategist at COL Financial Group, Inc., said in a separate phone message that the acquisition will “expand PLDT’s market share.”

China Bank Securities Corp. Research Director Rastine Mackie D. Mercado said the acquisition will provide growth opportunities for PLDT’s home business.

“PLDT will also have the opportunity to migrate Sky Cable’s broadband customers into their higher value products -— which should help prop up top line growth prospects,” he said in an e-mail interview.

“We note such inorganic growth opportunities are a welcome development for telcos, especially as the postpaid broadband market is believed to be nearing saturation and the overall legacy telco sector is already considered a mature industry (i.e., limited growth prospects),” he added.  

On Monday, PLDT shares rose by P26 or 2.05% to P1,296 apiece while ABS-CBN stocks fell by one centavo or 0.2% to P4.99 each.  

 Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. 

DILG to push for 3-year tax holiday for local films

THE DEPARTMENT of the Interior and Local Government (DILG) has backed local film producers in their plea to reduce what they say is the excessive tax burden that makes it difficult to produce more movies.

At a meeting with representatives from the local entertainment industry, DILG secretary Benjamin “Benhur” Abalos, Jr. assured that he would speak with various local government units (LGUs) to present a solution — a three-year holiday on the collection of amusement taxes.

This will allow the local film industry to bounce back from losses due to the pandemic and due to the ongoing issue of piracy, he said at a press conference held after the meeting on Jan. 18 at Camp Crame.

Mr. Abalos noted that movie producers must worry about the 10% amusement tax in addition to the 12% value-added tax (VAT) and paying for the multiple permits needed to shoot in various cities.

“I will talk personally with all the mayors of Metro Manila, give them the numbers to start everything right. Later on, through different leagues, we will give them a full presentation,” he said.

According to film producer and lawyer Josabeth V. Alonso, a film that earns P100 million at the box office will generate a net revenue of P35 million to P37 million after all the tax deductions and distribution fees.

She said that only few locally produced films released in 2023 hit P100 million, with most grossing “an average of P2 [million] to P12 million only.” The additional income from an amusement tax holiday would be a big help to producers, cinema operators, and other industry stakeholders, she said.

In 2019, the Supreme Court rejected the Film Development Council of the Philippines’ (FDCP) motion to grant films amusement tax privileges, saying this violated “the principle of local fiscal autonomy,” with the removal of amusement taxes detrimental to LGUs.

“This autonomy is given by law, so we will just have to ask LGUs to waive taxation,” Mr. Abalos said. He revealed that his father, Mandaluyong Mayor Benjamin Abalos, Sr., was receptive to this and has informally agreed to it.

“If more [LGUs] do it, it will be a very good gesture to keep the ball rolling,” he added.

FDCP chair and veteran actor Tirso Cruz III brought up the need for LGUs to streamline the procedure of securing permits for production, which will encourage both local and foreign producers to make films in the Philippines.

“For foreign producers who are interested in shooting films here, there are over 7,000 islands to choose from… We can entice them to go here,” he said.

In addition, Mr. Abalos emphasized that law enforcement agencies like the Philippine National Police (PNP), National Telecommunications Commission (NTC), and National Bureau of Investigation (NBI) must boost their campaign against piracy.

“It greatly hurts the film industry. We need to give them a healthy environment to help them recover,” Mr. Abalos said.

Currently, only the city governments of Las Piñas and Quezon City do not charge amusement taxes, while Pasay reduced its rate to 5%. Other LGUs still collect 10% amusement tax. — Brontë H. Lacsamana

Five companies keen on Meralco power supply needs

PHILIPPINE STAR/MICHAEL VARCAS

THREE companies are looking to vie for Manila Electric Co.’s (Meralco) 400-megawatt (MW) baseload requirement, while two have expressed interest in the 260-MW peak requirement.

Masinloc Power Partners Co. Ltd. (MPPCL), Limay Power, Inc. (LPI), and First NatGas Power Corp. (FNPC) expressed interest and participated in the pre-bid conference on Monday for Meralco’s 400-MW baseload requirement.

MPPCL and LPI are under San Miguel Global Power Holdings Corp. (SMGPH), the power arm of listed conglomerate San Miguel Corp. 

FNPC, led by the Lopez Group, operates the 420-MW San Gabriel natural gas-fired power plant in Batangas.

Meanwhile, 1590 Energy Corporation (1590 EC) and San Roque Hydropower, Inc. (SRHI) participated in a separate pre-bid conference for the 260-MW peak requirement.

1590 EC owns and operates the 225-MW diesel power plant in Bauang, La Union. It is owned by Vivant Energy Corp., a wholly owned subsidiary of listed Vivant Corp.

SRHI, formerly known as Strategic Power Development Corp., is another subsidiary of SMGPH, serving as the administrator of the 345-MW San Roque hydroelectric power plant through an independent power producer administrator agreement.

The competitive selection process, a government-mandated transparent bidding process, aims to select the least-cost electricity supply.

Under the terms of reference for the interim power supply agreements, bidders must offer a minimum contract capacity of at least 50 MW.

Meralco said that the conduct of bidding for the 260-MW peak requirement and 400-MW baseload requirement are in preparation for the expected increase in demand during the dry months.

The deadlines to submit bids are set for Feb. 26 and 27, respectively.

Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc.

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

Wilcon Depot targets to open 100th store before yearend

LISTED construction supplies retailer Wilcon Depot, Inc. is aiming to reach 100 stores before the end of the year, a company official said.

The company opened its 91st store on Jan. 12 in Morong, Rizal, Wilcon’s Chief Operating Officer and Senior Executive Vice-President Rosemarie B. Ong said at the inaugural meeting of the Management Association of the Philippines last week.

“Barring any unforeseen events [we reach 100 stores before yearend]; we are trying to fast-track it,” she said.

“We are targeting to open eight to ten stores a year,” she added.

She also discussed Wilcon’s move to include farming and agricultural products in its offerings, supporting the company’s expansion beyond Metro Manila.

“We’re going outside Metro Manila, and then we have to address that market for them to make it accessible, especially the agricultural tools that they will use,” she said.

“It’s really more on construction for homes. But then we have to get into the market because most of the areas that we go to are agricultural areas. So to make it accessible for the farmers, especially for those in agriculture, we’re trying to expand our category into that also,” she added.  

On Jan. 17, Wilcon’s board approved the amendment to its articles of incorporation to include agricultural tools and equipment, pesticides, and fertilizers to its primary purpose. It will add farming and agricultural products to the company’s product line.  

The amendment is set to be presented to the company’s stockholders for approval during the annual stockholders meeting, with no scheduled date yet.

Wilcon Depot’s shares rose by five centavos or 0.23% to P22 apiece on Monday. — Revin Mikhael D. Ochave 

Rewind breaks PHL domestic box-office record

REWIND is now the highest-grossing Filipino film of all time, nearly a month since its premiere at the Metro Manila Film Festival (MMFF) on Dec. 25, 2023.

The romance-drama has grossed P815 million in the domestic box-office, said Star Cinema on Jan. 17.

It took the top spot held by the 2019 film Hello, Love, Goodbye, starring Kathryn Bernardo and Alden Richards and directed by Cathy Garcia-Molina, which earned P691 million in domestic sales.

The announcement was made on the social media posts of Star Cinema, which produced both films.

Although the MMFF has ended its run, Rewind is still showing in many cinemas nationwide. It will also be screened at the inaugural Manila International Film Festival (MIFF) from Jan. 29 to Feb. 2 in Los Angeles, California, USA.

Rewind tells the story of a married couple, John and Mary. After Mary dies in a car accident, John gets a chance to “rewind” to the day before the accident.

The film is directed by Mae Cruz-Alviar and stars real-life celebrity couple Marian Rivera and Dingdong Dantes in their long-awaited comeback reunion on the big screen.

However, counting its worldwide gross, Hello, Love, Goodbye remains the country’s highest-grossing film. It took P880 million in global ticket sales in 2019, while Rewind only has a total of P845 million — so far.

Given its upcoming MIFF run in Los Angeles and its ongoing run in the US and Canada, it may yet overtake the 2019 film.

During the Rewind thanksgiving party, Mr. Dantes said that the film made such an impact on him and his wife that they felt fulfilled when it was completed.

“We prayed that, hopefully, through this film and also through the nine other beautiful films [in the MMFF lineup], our industry can come alive again,” Mr. Dantes said in the vernacular during his speech at the party, which was uploaded on the Star Cinema YouTube page on Jan. 17. — Brontë H. Lacsamana

Phoenix Petroleum halts importation of diesel, gasoline

PHOENIXFUELS.PH

PHOENIX Petroleum, Inc. has temporarily halted the importation of diesel and gasoline since March last year, the listed oil company said on Monday.

In a clarification, the company told the stock exchange that it prefers buying domestic fuels over imported ones.

“This way, it allows the company to manage its resources as well as reduce and manage risks due to inventory losses. Nonetheless, should trading conditions change, the company will evaluate its supply approach and strategy,” Phoenix said.

The company incurred a net loss of P3.68 billion in the first nine months of 2023, a wider figure compared to the P1.07-billion net loss in 2022.

Revenues declined by 57.2% to P42.8 billion from the previous P99.92 billion.

The company attributed the decline to a 46.8% decrease in the total volume sold, which amounted to 1,156 million liters, compared to the 2,177 million liters in the previous year.

The company is considering entering into a sale-and-leaseback agreement with BDO Unibank, Inc. to restructure its debts, it said during its annual stockholders meeting in October.

The proposed deal involves some of the company’s assets such as terminals, depots, and retail stations, which the company could repurchase within three to five years from the time of sale.

Shares of the company declined by 20 centavos or 4.17% to close at P4.60 apiece. — Sheldeen Joy Talavera

Relevant leadership for a progressive Philippines

FREEPIK

(This was lifted from the Inaugural Address delivered on Jan. 18 by the author as the 2024 President of the Management Association of the Philippines or MAP.)

A few years ago, I was invited by the big blue school in Katipunan to speak at the honors ceremony where the best and the brightest were being recognized. I decided to ask the honorees if success was their ultimate objective. The young, energetic, and idealistic minds naturally responded positively.

I then ventured to suggest to them, wouldn’t being significant be a better objective? Many years since then, being more aware of the challenges of the times, I realized that being significant meant being relevant. I reasoned to them, one can be successful but not relevant, but one who is relevant is always successful. I explained to the young minds that everyone aspires to leave behind a mark of one’s lifetime, a legacy of one’s relevance takes center stage in depth and meaning.

The dictionary meaning of “relevant” is: connected or appropriate to the situation, the period, the activity, or the aspiration. “Relevant” comes from the Latin word “relevare,” which means “raising up.” By being relevant, we not only raise up ourselves, but more importantly, we raise others up. I believe the present call for all of us, our organizations, our businesses is to be relevant to the times, to the community, to the nation, and to the environment.

In navigating the complexities of an ever-evolving domestic and global landscape, embracing relevant leadership in business and government is not just an option but now a necessity and a continuous journey towards a progressive future.

As in the past, our activities this year will be guided by a theme. For 2024, the MAP Board of Governors has chosen the theme “Relevant Leadership for a Progressive Philippines.”

In line with this theme, MAP will pursue five thrusts:

1. Member Engagement,

2. Country Competitiveness,

3. ESG and Shared Prosperity,

4. Innovation, Technology and Digitalization, and,

5. Investing in the Youth.

MEMBER ENGAGEMENT
We will ensure the relevance of the topics and issues to be taken on in the MAP general membership meetings (GMMs) and other activities. The objective is to engage the membership in a more meaningful way. The programs will be executed to be interactive and engaging, discussing relevant topics and developments so as to benefit the members, their companies and the economy.

We will endeavor to have topics and resource persons who can stimulate and engage with our members.

We will expand outside Metro Manila to the key cities where we can engage new members and, through technology, enable their virtual participation in our various activities. This will be our way of helping expand business and economic development benefits to the rest of the country.

COUNTRY COMPETITIVENESS
Recent economic realities, together with globalization, highlight the need to enhance our country’s competitiveness, as all the other economies are doing.

To help improve the global competitiveness of the Philippines, we will push for vital policy reforms, through executive or legislative action, that will eliminate corruption, improve the ease of doing business, ensure food security through agricultural productivity, and sustain an enabling business environment for local and foreign investors. The aspiration is to attract greater and more diverse job-creating investments for more Filipinos to be gainfully employed.

ESG AND SHARED PROSPERITY
We need to respond to the reality of heightened economic inequality and the adverse long-term effects thereof. For our thrust on ESG and Shared Prosperity, we will push for the discourse and actions to encourage our members’ companies towards shared economic prosperity for all, environment and climate action, and principled business practices and governance.

INNOVATION, TECHNOLOGY, AND DIGITIZATION
With the recent technological developments that threaten jobs and the present workforce, we encourage action to prepare for the transitions. It is important that we encourage proper technology adoption, innovation, and digitalization to address these evolutionary challenges.

We also see digitalization as the key to improving the quality of service for the Filipinos and addressing corruption, both in the private and the public sectors.

INVESTING IN THE YOUTH
With increased global competitive realities, the development of competencies and well-being of the Filipino, especially the youth, is now more critical.

We will continue the Campaign against Malnutrition and Child Stunting or CAMACS and we will advocate for government and the private sector to pursue relevant education, health and wellness programs, particularly for the youth. The objective is for them to become productive members of society, with competitive skills and capacity that will ensure a progressive economy of the future.

MAP MEMBERS’ TOP SEVEN CONCERNS FOR 2024
We will certainly address the following Top 7 concerns of MAP members for 2024 which were generated through a survey in the 4th quarter of last year:

1. Corruption,

2. Ease of Doing Business,

3. Economy,

4. Agriculture,

5. Cybersecurity,

6. Education, and,

7. Climate Change.

Please note that all these top 7 concerns will be directly addressed by the five thrusts that we have explained.

WORKING WITH MAP COMMITTEES UNDER 5 GROUPS
In general, we will build on MAP’s current activities that benefit our members and other stakeholders.

While focusing on the five main thrusts, we will continue to pursue other advocacies and programs to adapt to dynamic changes in the domestic and global landscape.

Your 2024 Board will work with the 21 MAP committees which shall be grouped according to our five main thrusts for 2024.

1. The Member Engagement group will be headed by Noel Bonoan and myself.

2. The Country Competitiveness group will be headed by Corrie Purisima and myself.

3. The ESG and Shared Prosperity group will be led by Rex Drilon II and Marts Sazon.

4. The Innovation, Technology and Digitalization group will be handled by Marts Sazon and Al Panlilio.

5. The group on Investing in the Youth will be handled by Karen Batungbacal, Corrie Purisima and Al Panlilio.

We have listened and considered your input in our planning and identification of the five main thrusts and activities. We would appreciate your continued input and suggestions, please let me or the MAP Secretariat know.

We will be relying on the valuable support and active participation of every MAP member, particularly the MAP Governors and all the Committee Chairs and Vice-Chairs.

Years ago in that Katipunan event, the Jesuits and Faculty liked what I said as they told me so. I wondered though, how many of the best and the brightest listening agreed with me? I would have been very happy if some were even open to the consideration that it’s not all about personal success.

Today, here we have a roomful of very successful and significant individuals. It is a privilege, but much more a challenge, to be serving this prestigious group of women and men, full of talent, skill, and capability, but more so committed to do good, to do what is right for a better nation.

In addition to all the successes and significance here present, may we invite all of you to join us. Let us all share in the aspiration to be relevant leaders that are committed to a better future for the generations to come.

Your support will be very crucial to achieving our aspirations.

Thank you! Mabuhay ang MAP at mabuhay kayong lahat!!

 

Rene D. Almendras is the president and CEO of AC Logistic Holding Corp.

map@map.org.ph

almendras.rd@ayala.com

Nimona goes from underdog to surprise animation awards contender

LOS ANGELES — After a rocky road to the screen, Nimona has emerged as an unexpected animated film awards contender after receiving the most nominations for the genre’s 2024 Annie Awards.

“It’s a dream. What a Cinderella story, a phoenix rising from the ashes,” said co-director Troy Quane of the nine Annie nods for Nimona, now streaming on Netflix.

“The studio got shut down. The movie was dead and then not only has it come back to life — we were just happy for it to get out into the world — but now here we are on the red carpet, getting all these noms for the Annies, standing shoulder to shoulder with giants and legends of the industry,” Mr. Quane said.

In early 2021, Disney shut down Blue Sky Studios and its film Nimona was subsequently canceled.

But the filmmakers never lost hope and persevered until the project was completed.

Like its gutsy main character Nimona, the movie defied the odds and was later picked up by Annapurna Pictures, and Netflix acquired its global distribution rights and premiered the film in June 2023.

“Our credits are 14 and a half minutes long because of how many people it took to get this movie to the screen,” producer Karen Ryan said.

The science-fantasy film, thought to be one of the underdogs of the animation race this year, was nominated for top Annie awards including best feature and best director.

Directed by Mr. Quane and Nick Bruno and based on a 2015 graphic novel of the same name by ND Stevenson, Nimona follows the character Ballister Boldheart, a former knight who was kicked out of a medieval-influenced futuristic kingdom after being accused of murdering the ruler, Queen Valerin.

When Ballister is pursued by authorities, including his boyfriend and fellow knight Ambrosius Goldenloin, he crosses paths with the shapeshifter Nimona, a spirited teen who insists on becoming his sidekick.

The voice cast includes Chloe Grace Moretz as Nimona, Riz Ahmed as Ballister and Eugene Lee Yang as Ambrosius.

The movie highlights diversity, including LGBTQ+ characters.

“Yeah, I think it was taking a cue from that character,” Mr. Quane said. “Just being unapologetic in the storytelling, we went with the movie to not shy away from the LGBTQ+ themes.”

For him, it was vital for the film to celebrate underrepresented characters, Mr. Quane said.

Experts polled by the Gold Derby website have Nimona listed as the fifth leading nomination contender for the Oscars behind such favorites as Studio Ghibli’s The Boy and the Heron and Pixar’s Elemental.

But given its history, Nimona may once again defy the odds when nominations are announced on Jan. 23. — Reuters

Entertainment News (01/23/24)

Aurora Music Festival tickets now on sale

TICKETS are now on sale for the Aurora Music Festival which will be held at Clark Global City in Pampanga from April 6 to 7. The event will include live music and a display of more than 20 hot air balloons. The acts on day one will be SB19, Moira Dela Torre, December Avenue, Juan Karlos, Adie, and Cup of Joe. Day two will have Rico Blanco, Parokya ni Edgar, Kamikazee, Orange & Lemons, Itchyworms, and Andrew E. Produced by Epic Events, Eggstop, and Mr. Macchiato, the festival is a celebration of the OPM (Original Pilipino Music) scene. Tickets are now on sale via 
https://ticket.epiceventsph.com/, all SM Tickets outlets, and Shopee.

Four Filipino films to be shown at Sundance

AMONG the 92 films at the Sundance Film Festival, which runs from Jan. 18 to 28 in Salt Lake City and Park City in Utah, USA, are four works by Filipinos. These are the documentary And So It Begins by Ramona Diaz, and the short films Dream Creep by Carlos A.F. Lopez, Thirstygirl by Alexadra Qin, and Bold Eagle by Whammy Alcazaren. “Each of these shorts delves into subject matters that aren’t typically discussed at the family dinner table — sex addiction, the pursuit of love and intimacy in the digital age, and the confrontation of both internal and external horrors. While these topics may radiate a certain seductive allure, beneath the surface, there exists a profound and delicate exploration of the human experience and challenges of navigating the world,” said Sundance Film Festival’s short film programmer Irene Suico Soriano.

Free screening of films on gaming history

A COLLECTION of critically acclaimed and award-winning documentaries on the history of gaming will be screened for free by the Museum of Contemporary and Design (MCAD) of the De La Salle-College of Saint Benilde. The selection provides the viewers with a 360-perspective of the video game scene, from its humble beginnings and ending with some of the key purveyors in the community. It touches upon the conflict of tradition versus capitalism between industry giants. It likewise takes the audience into the ins and outs of game development, commercialization, and its impact on the personal lives of its avid users. The films are: The Lost Arcade (2015) by Kurt Vincent about the legacy of the Chinatown Fair Arcade on the competitive fighting game community in New York City (it screens on Jan. 24); Console Wars (2020) by director Jonah Tullis, based on the 2014 novel of the same title by Blake J. Harris, it is about the 1990s rift between Sega and Nintendo (Jan. 25); Indie Games: The Movie (2012) by James Swirsky and Lisanne Pajot introduces the audience into the behind-the-scenes of Braid, Super Meat Boy, and Fez (Jan. 26); Free to Play (2014) looks at the lives of three professional Defense of the Ancients (DotA) players in the lucrative e-sports tournament (Jan. 27). The screening is the year’s first offering for MCAD x Moving Image, a program that presents a series of hybrid documentaries, video essays, narrative experiments, filmed performances, and archival audiovisions. It is free and open to the public. It will be held online via Zoom at noon on the scheduled dates. Interested participants may register through http://tinyurl.com/nhcza936. For more information, visit https://facebook.com/MCADManila.

Gloc-9 drops new single

ASIDE from performing at different gigs and festivals, Gloc-9 started his 2024 strong with a new single, “Labandero.” The track weaves a narrative of life’s challenges and the unwavering spirit required to overcome them. The song’s hooks and rap verses deliver a message of hope and determination. It is part of the recent OPM Rising playlist on Spotify and is now available on all digital platforms.

Animated comedy Migration now in cinemas

THE FILM Migration is animation company Illumination’s latest original comedy. It follows the Mallards, a family of ducks, whose father Mack (voiced by Kumail Nanjiani), is content to keep his family safe paddling around their New England pond forever, while mother Pam (Elizabeth Banks) prefers to shake things up and show their kids the world. They embark on a family trip, via New York City, to tropical Jamaica. Migration, from Universal Pictures International, is now showing nationwide.

Dhruv releases new single

SINGER-songwriter and producer Dhruv has dropped “Tragedy,” the new single off his debut album which is expected to be released later this year. The piano-led track is co-written by Dhruv and produced by JT Daly, and it chronicles the somber feeling of being on the losing end of a breakup after a failed attempt of reconciling with an ex. Conceptualized by Dhruv and filmed throughout London, the accompanying music video, directed by AboveGround, has Dhruv act out his own version of a tragedy as he searches for answers but instead finds bad luck at every turn. “Tragedy” is out now on all digital music platforms worldwide via Sony Music Entertainment.

Tokyo Revengers 2 now showing

WITH intense action and physical sequences, Tokyo Revengers 2: Bloody Halloween – Destiny showcases a conflict between the Tokyo Manji gang and the Valhalla gang. It is based on the best-selling manga series of the same name by Ken Wakui, and stars Takumi Kitamura as the driven lead Takemichi Hanagaki. According to action director Yuta Morokaji, the emotions of the characters play against the sharpness of the actions, with much of it filmed on a large junkyard set. The film is out in Philippine cinemas now.

Century Properties Group to launch 2 projects in first half 

CENTURY Properties Group (CPG) is set to launch two projects in the first half of the year as part of its expansion strategy, the company announced on Monday.

The company plans to launch projects under its premium in-city line, with one located in Metro Manila and the other in Pampanga, the listed property developer said in a regulatory filing.

The Hotel Residences at Acqua development in Mandaluyong City is scheduled for launch in the first quarter, the company said.

The first mid-rise residential project, consisting of 12 stories, at Azure North in San Fernando, Pampanga, is also scheduled for launch in the first half, it added.

According to the company, the Hotel Residences at Acqua will offer move-in ready, hotel-fitted, and fully furnished suits. 

Meanwhile, the first tower of the residential development at Azure North will offer 375 units. It will also have multi-feature water park amenities.

“I think overall, 2024 should be a banner year for the company — better than this year,” CPG President and Chief Executive Officer Jose Marco R. Antonio said in November.

“Our outlook is actually cautiously optimistic. There are many reasons why we believe it’s going to be a good year. Our affordable housing business is growing very rapidly. As you are probably aware, we’ve launched many projects,” he added.

On Monday, shares of CPG fell by P0.005 or 1.79% to P0.275 apiece. — Revin Mikhael D. Ochave 

Green is in: Regulations influencing sustainable building development in Philippines

KELLY DOROTEO-UNSPLASH

IN THE PHILIPPINES, there are various financial regulations in place that encourage the development of green and sustainable buildings. These regulations incentivize businesses to adopt sustainable business practices and contribute to the country’s efforts to mitigate the impact of climate change.

In the previous Congresses, lawmakers have proposed a measure that would update the country’s Building Code, and mandate the implementation of green building practices in all new buildings and major renovations.

Other government agencies and business organizations have also proposed and enacted green initiatives to assuage the impact of climate change.

The Bangko Sentral ng Pilipinas (BSP) has also implemented sustainable finance regulations that encourage financial institutions to support green initiatives. The BSP’s Sustainable Finance Framework requires banks and financial institutions to integrate environmental and social considerations in their lending, investing, and risk management activities. The framework incentivizes the issuance of green bonds and green loans, which fund projects that have positive environmental impact, such as renewable energy and sustainable infrastructure. This regulation promotes the development of green finance and encourages sustainable investments, which can contribute to the country’s sustainable economic growth.

The Securities and Exchange Commission has issued guidelines on the establishment of Green Bonds and Social Bonds, which promote sustainable and socially responsible investments. These guidelines require issuers to disclose the environmental and social benefits of the bond proceeds and report on the use of proceeds and impact achieved. This regulation encourages the issuance of green bonds and social bonds, which fund projects that have positive environmental and social impacts, such as clean energy, affordable housing, and healthcare. These bonds attract socially responsible investors and promote sustainable development.

The Department of Energy (DoE) also implements financial regulations that encourage the adoption of green and sustainable workspaces. The DoE provides financial incentives, such as tax exemptions, reduced fees, and subsidies, to businesses that use renewable energy sources, such as solar and wind power. This regulation promotes the development of renewable energy, reduces reliance on fossil fuels, and contributes to the country’s efforts to mitigate the impacts of climate change. These incentives make renewable energy more affordable and attractive for businesses, leading to cost savings and environmental benefits.

Moreover, the Philippine Stock Exchange has launched the Sustainability Reporting Guidelines, which require listed companies to disclose their environmental, social, and governance (ESG) practices. This initiative encourages companies to adopt sustainable business practices and provides investors with ESG-related information to make informed investment decisions. The guidelines also promote transparency, accountability, and good governance, which can contribute to the country’s sustainable development.

The implementation of these financial regulations is crucial in promoting the development of green and sustainable buildings. Developers and building owners must embrace sustainable design and create structures that are greener and more efficient. Not only can they take advantage of existing regulations, but also use these to attract tenants that have ESG targets to meet. Moreover, the adoption of green and sustainable workspaces can lead to cost savings to building tenants, job creation, improved reputation, and contribute to the country’s efforts to mitigate the impact of climate change. Different government agencies are working hand in hand to influence greener construction, projects, and investments so that the Philippines can reap the advantages of an ecologically sound tomorrow.

Sustainability should be every Filipino’s responsibility.

 

Daniel Salapong is the associate director for Colliers Philippines.

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