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Conclave wins top honor at Screen Actors Guild Awards

A SCENE from Conclave.

LOS ANGELES — Conclave, a drama about the selection a new pope, won the top award at Hollywood’s Screen Actors Guild (SAG) Awards on Sunday, boosting the movie’s chances of success at next weekend’s Oscars.

The movie starring Ralph Fiennes, Stanley Tucci, John Lithgow, and Isabella Rossellini won best movie cast at the SAG Awards, a red-carpet ceremony that streamed live on Netflix.

Timothée Chalamet scored the award for best movie actor for playing music legend Bob Dylan in A Complete Unknown. Demi Moore was honored as best movie actress for her role as a fading celebrity seeking a fountain of youth in The Substance.

The supporting movie actor and actress trophies went to Kieran Culkin for A Real Pain and Zoe Saldaña for Emilia Pérez.

The SAG Awards, handed out by members of the SAG-American Federation of Television and Radio Artists actors’ union, are closely watched because their choices often reflect the winners at the Academy Awards. Actors make up the largest group of Oscar voters. — Reuters

And the winner is…

THE following is a complete list of winners at the 30th Annual Screen Actors Guild Awards on Sunday for the best performances in film and television. The ceremony was streamed live on Netflix.

FILM
Best Cast in a Motion Picture – Conclave

Best Male Actor in a Leading Role – Timothée Chalamet for A Complete Unknown

Best Female Actor in a Leading Role – Demi Moore for The Substance

Best Male Actor in a Supporting Role – Kieran Culkin for A Real Pain

Best Female Actor in a Supporting Role – Zoe Saldaña for Emilia Pérez

Outstanding Action Performance by a Stunt Ensemble in a Motion Picture – The Fall Guy

TELEVISION
Best Ensemble in a Drama Series – Shōgun

Best Ensemble in a Comedy Series – Only Murders in the Building

Best Male Actor in a Drama Series – Hiroyuki Sanada for Shōgun

Best Female Actor in a Drama Series – Anna Sawai for Shōgun

Best Male Actor in a Comedy Series – Martin Short for Only Murders in the Building

Best Female Actor in a Comedy Series – Jean Smart for Hacks

Best Male Actor in a Television Movie or Limited Series – Colin Farrell for The Penguin

Best Female Actor in a Television Movie or Limited Series – Jessica Gunning for Baby Reindeer

Outstanding Action Performance by a Stunt Ensemble in a Television Series – Shōgun

STI posts 76% profit growth on strong enrolment

STI WEST NEGROS UNIVERSITY — STI.EDU

STI EDUCATION SYSTEMS Holdings, Inc. saw its attributable net income rise by 76% to P902.54 million for the six-month period ending December 2024, driven by higher enrollment.

The listed educational institution reported consolidated revenue of P2.63 billion for the first half of its fiscal year, which runs from July to June. This represents a 34.2% increase from P1.96 billion in the same period the previous year.

The company’s three-month attributable net income for the period ended December increased to P641.40 million, up by 30.3% from the P492.41 million previously.

While revenues for the three months-to-December went up by 21% P1.59 billion from the P1.31 billion in the comparable period a year ago. Its operating income was recorded at P710.6 million, climbing by 25.6% from the P565.6 million in the same quarter last year.

STI attributed its growth for the period to the increase of enrollees across its subsidiaries particularly in STI Education Services Group (STI ESG), STI West Negros University (STI WNU), and iACADEMY for school year 2024 to 2025.

The company said it recorded a 15% increase in students across its unit to 138,000 from 120,000 in the previous school year.

STI ESG recorded a 17% increase in enrolment to 121,374 students from 103,982 in the school year 2023 to 2024; while STI WNU in Bacolod City said students rose by 9% to 14,503 from 13,328 previously.

STI Holdings’ financial year follows its academic calendar beginning July 1 and ending on June 30 of the following year.

At the stock exchange on Monday, shares in the company closed unchanged at P1.41 each. — Ashley Erika O. Jose

Entertainment News (02/25/25)

Nina to perform at Bar 360 in Newport

ORIGINAL PILIPINO MUSIC singer Nina is returning to Newport World Resorts as she takes the stage of Bar 360 on Feb. 26 at 10:15 p.m. Attendees must pay a minimum cover charge of P2,000, consumable on food and drinks. Nina will serenade the crowd with her hits like “Jealous,” “Love Moves in Mysterious Ways,” and “Someday.”

National Artist Nora Aunor stars in Mananambal

NATIONAL ARTIST for Film and Broadcast Arts Nora Aunor is back on the big screen with the horror film Mananambal. The film is classified R-13 by the Movie and Television Review and Classification Board. Set in the province of Siquijor, the story explores the repercussions of exploiting sacred traditions, with Ms. Aunor portraying Lucia, a healer whose powers lead to unintended consequences. The film is now showing in cinemas nationwide.

Experimental films screened for free at MCAD

A SCREENING of experimental films titled “Visible Disruptions” will take place from Feb. 26 to 28. Curated by Ricky Orellana, Mowelfund Film Institute’s audiovisual archive head, the films will be screened at the Museum of Contemporary Art and Design (MCAD) at De La Salle College of Saint Benilde. The three-part program is free and open to the public. To be shown on day one is Tadhana (1978), the first-ever Philippine full-length animated film. The next day will feature 11 critically acclaimed cinematic shorts which all tackle Filipino psyche, culture, and politics. The holy Mt. Banahaw-set documentary Bahala na si Bathala sa mga Banal na Bata (2022) by Reuben T. Domingo and Tita Pambid will be shown on the third day. Interested participants may e-mail mcad@benilde.edu.ph.

97th Oscars to stream on Disney+

DISNEY+ will be streaming the 97th Oscars live and exclusive to Filipinos on March 3. The event will see some of Hollywood’s biggest names gathering to celebrate the best in film. Hosting the program for the first time is Emmy Award-winning television host, writer, producer and comedian Conan O’Brien.

All seasons of Sherlock now on Lionsgate Play

THE award-winning British drama series from the mid-2010s, Sherlock, can now be viewed online in the Philippines on the streaming platform Lionsgate Play. Spanning four seasons and a special episode, Sherlock is a fast-paced adventure series set in present-day London starring Benedict Cumberbatch as Sherlock Holmes and Martin Freeman as his loyal friend, Doctor John Watson.

Jericho Rosales is the lead of biopic Quezon

TBA STUDIOS has announced that Jericho Rosales has been cast in the titular role in Quezon, the third film of Jerrold Tarog’s “Bayaniverse” following Heneral Luna and Goyo: Ang Batang Heneral. The new biographical historical movie is expected to follow the life of Manuel L. Quezon, a Filipino lawyer and soldier who became the President of the Commonwealth of the Philippines from 1935 to 1944. Quezon will also mark Mr. Rosales’ return to Philippine cinema after a long hiatus; he was last seen on the big screen in the 2018 romantic drama The Girl in the Orange Dress.

The Juans brings more fan experiences, concerts

FILIPINO band The Juans will be presenting exclusive fan experiences and concerts through its Juaniversity Campus Tour. Open to students, these will take place on March 10 at Balacat Festival Open Concert, Pampanga; March 14 at JAB’s Nueva Ecija; March 15 at the Guiguinto Town Fiesta, Bulacan; and March 21 at ITCI 28th Founding Anniversary, Bataan.

Hemp Republic marks 25th year with show, album

ICONIC Filipino band Hemp Republic is marking its 25th anniversary in the music industry with the official launch of its six-track release, The Mighty People, which promises to be a celebration of resilience, unity, and the evolving sound of Pinoy reggae. Its album launch will be on March 22 at the ’70s Bistro in Quezon City, from 7 p.m. onwards. There will also be guests from the local reggae, ska, and dub scenes such as Brownman Revival, Reggae Mistress, Tropical Depression, and Collie Herb. For more information, visit Hemp Republic’s social media pages.

BINI headlines Aurora Music Festival Clark 2025

THE Aurora Music Festival is back for its fourth year on May 3 and 4 at Clark Global City. The lineup will be headlined by P-pop group BINI. The girl group will headline both days of the festival. Festival goers will also be treated to a display of more than 20 hot air balloons. The Aurora Music Festival Day 1 on May 3 will feature a lineup of Moira, TJ Monterde, Arthur Nery, BGYO, and Rico Blanco. Day 2 on May 4 will see Cup of Joe, Maki, Dionela, Flow G, and Over October. Ticket prices start at P500.

Immersive experiences on Disney Adventure

NEW experiences will be unveiled at the Disney Adventure, the Disney Cruise Line announced. These include the Marvel Style Studio, the Bibbidi Bobbidi Boutique, and Royal Society for Friendship and Tea, which welcomes children to various spots on the cruise. In another first for the fleet, Duffy and Friends will appear onboard through a series of retail and entertainment experiences, including the brand-new show, Duffy and The Friend Ship. The Disney Adventure will set sail on its maiden voyage on Dec. 15 from Singapore. Guests can book sail dates between April and September 2026 directly from the Disney Cruise Line website via https://disneycruise.disney.go.com/ships/adventure.

Benj Pangilinan confronts self-doubt in new single

AFTER releasing sentimental tunes “Love That’s Rare” and “Nandito Na Ako,” a duet with Angela Ken, Original Pilipino Music singer-songwriter Benj Pangilinan once again bares his soul in his latest single, “Alinlangan.” Released under Sony Music Entertainment, the heartfelt, piano-driven ballad expresses self-doubt and questions the validity of one’s feelings of love. Co-written with veteran composer Kiko Salazar, the song transitions from a minimalist piano arrangement with subtle instrumentation into a soaring pop anthem as it progresses. “Alinlangan” is out now on all digital music platforms worldwide via Sony Music Entertainment.

Mavy Legaspi is PBB Celebrity Collab Edition’s host

SPARKLE artist Mavy Legaspi is now one of the hosts of Pinoy Big Brother Celebrity Collab Edition. He becomes the second GMA artist to join the roster of PBB hosts for this year’s special edition, following his fellow Sparkle and GMA artist, Gabbi Garcia. Mr. Legaspi has previously hosted Tahanang Pinakamasaya and GMA Network’s popular cooking talk show Sarap, ‘Di Ba? alongside his mother Carmina Villarroel, and twin sister Cassy Legaspi.

Tate McRae releases third album

MULTI-PLATINUM pop sensation Tate McRae has released her third album, So Close To What, via RCA Records. It represents “the insurmountable moments in life, where the road ahead at times can feel endless and the destination non-existent,” Ms. McRae said in a statement. “It’s an introspective exploration of self-discovery, love, and nostalgia.” Its songs are written and produced by hitmakers like Ryan Tedder, Grant Boutin, Amy Allen, and Julia Michaels.

Tax court voids BIR’s P355.48-M assessment on cement company

CTA.JUDICIARY.GOV.PH

THE COURT of Tax Appeals (CTA) has ruled in favor of Holcim Philippines Manufacturing Corp., canceling a P355.48-million deficiency capital gains tax (CGT) assessment previously levied by the Bureau of Internal Revenue (BIR), citing that the BIR’s right to assess the tax had expired. 

The tax court’s Second Division, in a decision promulgated on Feb. 14, ruled that the formal letter of demand (FLD), issued on July 1, 2019, was void because it was released beyond the three-year prescriptive period.

“It cannot be denied that respondent (BIR) became aware of the subject transactions and the alleged tax deficiencies of [the] petitioner at that time. Counting ten (10) years from the issuance of the said BIR letter, [the] respondent had until April 12, 2012, to assess [the] petitioner,” the 22-page ruling penned by Associate Justice Ma. Belen M. Ringpis-Liban read. 

“However, it was only on July 1, 2019, that the FLD was issued — more than seven years after the last day of the prescriptive period. Hence, the 10-year period to assess has also prescribed,” it added.

The tax court also noted that internal revenue taxes must be assessed within three years from the last day prescribed by law for filing the tax return or the actual filing date, whichever is later.

According to Section 203 of the National Internal Revenue Code of 1997, “internal revenue taxes shall be assessed within three (3) years after the last day prescribed by law for the filing of the return.”

In ruling in favor of the cement company, the tribunal also rejected the BIR’s argument for a ten-year assessment period, as it failed to provide convincing evidence that Holcim willfully filed a false return.

The CTA stated that to prove a misstatement was deliberate or willful, “clear and convincing evidence must be presented for the ten (10)-year prescriptive period to be invoked.”

It noted that the BIR was aware of the transactions and alleged tax deficiencies as early as April 12, 2002, when it requested an informal conference with Holcim.

Counting ten years from this date, the court determined that the “ten (10)-year period to assess has also prescribed.”

The case arose when Republic Cement Corp. (RCC) sought a Certificate Authorizing Registration (CAR) to transfer shares of Iligan Cement Corp. from Alsons Cement Corp. (ACC) — now Holcim Philippines Manufacturing Corporation — to RCC. This transfer involved shares of stock sold in December 2000 and January 2001. 

The BIR initiated an investigation into the transaction, requesting documents in July 2001 and inviting ACC to an informal conference in April 2002 to discuss potential capital gains tax implications.

Holcim paid CGT on Jan. 8, 2001, and Feb. 19, 2001, amounting to P4,457,161.29 and P141,556,632.33, respectively.

After years of inactivity, Holcim requested a status report on the CAR issuance in April 2015. The BIR responded in May 2015, stating that the docket was under review and advising Holcim to reconstruct the documents and reapply for the CAR.

Holcim then submitted documents in January 2016 for the transactions that took place in December 2000 and January 2001. 

The BIR issued a Notice of Informal Conference in March 2018, followed by a Preliminary Assessment Notice (PAN) in July 2018, alleging a deficiency in CGT. Holcim replied to the PAN in September 2018. 

In July 2019, Holcim received an FLD and an Audit Result/Assessment Notice (FAN), reiterating the alleged deficiency taxes. Holcim protested the FAN and FLD in the same month.

The BIR denied Holcim’s request for reconsideration in a Final Decision on Disputed Assessment, which Holcim received on Nov. 10, 2020.

As a result, Holcim filed a Petition for Review with the CTA on Dec. 3, 2020, seeking the cancellation of the deficiency CGT assessments totaling P355,479,878.19. — Chloe Mari A. Hufana

T-bill yields steady as market digests RRR cut

BW FILE PHOTO

THE GOVERNMENT made a full award of the Treasury bills (T-bills) it offered on Monday as rates barely moved after the Bangko Sentral ng Pilipinas (BSP) said it will cut banks’ reserve requirement ratios (RRRs) further.

The Bureau of the Treasury (BTr) raised P22 billion as planned from the T-bills it auctioned off on Monday as total bids reached P83.711 billion, almost four times as much as the amount on offer and higher than the P56.275 billion in tenders recorded on Feb. 17.

Broken down, the Treasury borrowed P7 billion as planned via the 91-day T-bills as tenders for the tenor reached P24.475 billion. The three-month paper was quoted at an average rate of 5.329%, inching up by 1.1 basis points (bps) from the 5.318% seen at the previous week’s 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 P25.936 billion. The average rate of the six-month T-bill stood at 5.672%, 1 bp higher than the 5.662% fetched the previous week. Tenders accepted by the BTr carried yields of 5.64% to 5.693%.

Lastly, the Treasury raised the programmed P8 billion via the 364-day debt papers as demand for the tenor totaled P33.3 billion. The average rate of the one-year debt decreased by 2.6 bps to 5.754% from 5.78% previously, with bids accepted having rates of 5.74% to 5.77%.

At the secondary market before the auction, the 91-, 182-, and 364-day T-bills were quoted at 5.2933%, 5.592%, and 5.7889%, respectively, based on PHP Bloomberg Valuation Service (BVAL) Reference Rates data provided by the Treasury.

T-bill yields were mostly steady as the market is still assessing the potential impact of the RRR cuts, which will take effect next month, a trader said in a text message.

“Treasury bill average auction yields mostly corrected slightly higher for the third straight week … after the comparable short-term PHP BVAL yields were mostly slightly higher week on week,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

Mr. Ricafort said yields on government securities have climbed following the BSP’s surprise decision to pause its easing cycle this month, but its announcement of further cuts in banks’ reserve ratios partially offset the rise in T-bill rates this week. 

The RRR is the portion of reserves that banks must hold onto rather than lending out.

On Friday, the BSP said it will reduce the reserve requirement ratio for universal and commercial banks and nonbank financial institutions with quasi-banking functions by 200 bps to 5% from 7% effective March 28.

The RRR for digital banks will be cut by 150 bps to 2.5%, while that for thrift banks will be slashed by 100 bps to 0%.

Rural and cooperative banks’ RRR has been at 0% since October, which was the last time the BSP cut lenders’ reserve ratios.

“The BSP reiterates its long-run goal of enabling banks to channel their funds more effectively toward productive loans and investments. Reducing RRRs will lessen frictions that hinder financial intermediation,” the central bank said.

Monday’s T-bill auction was the last one for this month. The BTr raised P93.6 billion via T-bills in February, higher than the P88-billion plan, as it upsized its award at one auction.

On Tuesday, the BTr will offer P30 billion in reissued 20-year Treasury bonds with a remaining life of 19 years and three months.

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

China’s Ne Zha 2 animated blockbuster fuels nationalist pride, Hollywood hostility

BEIJING — As Ne Zha 2 shatters box office records, the Chinese animated film about a mythical boy with magical powers has sparked national pride and now hostility towards rival Hollywood offerings such as the latest installment of Captain America.

Dazzling Chinese audiences with dramatic fight scenes, Ne Zha 2 has become the highest-grossing animated film of all time globally, with record-breaking sales at home helping the movie dethrone Disney’s Inside Out 2.

But the film’s success overseas remains to be seen, sparking intense debates on Chinese social media on the merits and failings of the movie. Criticism of Ne Zha 2 has often been met with heated rebuttals.

Anti-Hollywood rhetoric has also emerged this week, with some on Chinese social media expressing frustration over the alleged lack of Ne Zha 2 screenings in North America.

“It doesn’t matter if Ne Zha 2 can survive overseas, but Captain America 4 must die in China,” according to one social media post, referring to Captain America: Brave New World which opened in China last week.

One cinema in southwest China even told a local state-backed media that it would support Ne Zha 2 by not screening the Marvel movie.

In an editorial on Feb. 16, the nationalist Chinese tabloid Global Times wrote that Captain America: Brave New World was faltering in China because Chinese audiences were “losing patience with formulaic expressions reliant on special effects and drawn-out dialogue.”

In contrast, Ne Zha 2 connected with “contemporary youth values” and had “multi-character emotional resonance,” the newspaper wrote.

The Marvel movie has made just 87.1 million yuan ($11.99 million) during its opening week in China, according to ticketing platform Maoyan, a fraction of the $88 million opening weekend ticket sales in the US.

In comparison, Ne Zha 2, which opened in China on Jan. 29, has raked in 12.6 billion yuan including international sales. — Reuters

PH1 says One Lancaster Park’s Tower 1 nearly sold out

BW FILE PHOTO

PH1 WORLD Developers, Inc. (PH1WD) reported strong take-up for One Lancaster Park (OLP) in Imus, Cavite, with its first two towers reaching 96% and 60% sold, respectively.

Its third tower, launched in January, has achieved a 30% sales rate.

Meanwhile, OLP’s fourth tower is scheduled for launch in the latter part of this year, according to the property development arm of Megawide Construction Corp.

“OLP brings green living closer to Metro Imus, Cavite, and offers a perfect balance of both city and nature life. By combining the convenience of metro living and the open-air feel of suburban space, PH1WD offers the perfect commune for future residents,” PH1 President Gigi G. Alcantara said in a statement on Monday.

Megawide has said it expects to complete the Tower 1 of its OLP project with Property Company of Friends, Inc. (Pro-Friends) by 2026

OLP features one- and two-bedroom units ranging from 28.62 square meters (sq.m.) to 67.24 sq.m.

Approximately 70% of the property is dedicated to open spaces, which include a seven-ha park, pocket gardens, a play area, elevated walkways, a clubhouse, adult and kiddie swimming pools, and a basketball court.

Ms. Alcantara highlighted the growth potential of suburban areas like Cavite in the real estate sector. 

“While Metro Manila is affected by the ongoing glut in condominium units, we believe that sprawling suburban areas, such as Cavite, offer significant growth potential in the real estate space, and OLP’s value proposition will be an absolute come-on,” she said.

OLP is located in Imus City, less than an hour from Metro Manila, and is accessible via the Cavite Expressway (Cavitex), Cavite-Laguna Expressway (CALAX), and the South Luzon Expressway through the MCX-Daang Hari Exit.

Additionally, the upcoming Phase 1 of the Cavite Bus Rapid Transit (BRT) System, developed by its parent firm Megawide, is expected to enhance connectivity in the area.

The 42-kilometer bus system will serve Imus, General Trias, Tanza, Kawit, Trece Martires, and nearby areas. The first phase includes three terminals and 27 stations, with a point-to-point (P2P) service connecting to the Parañaque Integrated Terminal Exchange (PITX). 

The Cavite BRT System is expected to improve the accessibility and viability of OLP and PH1’s other projects in Cavite, the company said. 

“As a first-world property developer, we envision social and economic sustainability in our ongoing and future projects and ensure that synergies are harnessed within the bigger group,” Megawide Chairman and Chief Executive Officer Edgar B. Saavedra said. 

“In OLP, for instance, our very own engineering, procurement, and construction (EPC) services, as well as precast and construction solutions (PCS) products, will be utilized to capture the end-to-end value chain.” — Beatriz Marie D. Cruz

5 Steps to mitigating SME cash flow gaps

JAKUB ZERDZICKI-UNSPLASH

Henry, the managing director of a facade maintenance company based in Manila, was having a great day — until he walked into his client’s office. Instead of collecting a promised P3 million check, he was met with a casual apology. “You’ll have it next week,” his client said. But Henry didn’t have a week. He had salaries and utilities to pay in three days. That missing P3 million wasn’t just a delay; it was a cash flow gap that could disrupt his entire business.

If you’re a business owner, you’ve probably been in Henry’s shoes. Cash flow gaps are one of the most common challenges for small- and medium-enterprises (SMEs) in the Philippines, usually caused by delayed collections, unexpected expenses, or seasonal fluctuations in revenue. The bad news? They’re stressful, especially if you have to come up with the money quickly. The good news? There are immediate steps you can take to navigate them and keep your business running smoothly.

1. Analyze your cash flow. The first step is to analyze your current cash flow situation by reviewing your financial statements, including your cash reserves, overdue invoices, and cash tied up in work in progress. This analysis will help you achieve two crucial goals. First, you’ll determine the exact amount needed to return to a positive cash flow position. Second, you’ll identify the root causes of your cash flow issues — and see if there are solutions that don’t require an immediate cash infusion.

2. Follow up on your accounts receivable. Do you have clients with overdue invoices? Follow up on them, especially the ones with the largest amounts owed. In this case, a friendly phone call to the client may work better than sending an e-mail or text reminder for payment. You can also negotiate a payment plan with them so they can pay part of the money owed immediately. Meanwhile, you can offer a small discount to clients with upcoming invoices to encourage them to pay earlier.

In the future, make it a point to improve your accounts receivable process by invoicing promptly, sending automated payment reminders, and having a clear payment policy to avoid confusion or delays.

3. Negotiate on your accounts payable. If your cash flow gap is due to accounts payable, consider negotiating longer payment terms with your suppliers. Extending your payment terms can provide temporary relief and help you manage cash outflows better in the future. Make it a practice to build a strong relationship with your suppliers — it can make them more willing to accommodate your needs during challenging times.

4. Reduce unnecessary expenses. Identify areas where you can cut costs without compromising the quality of your products or services. Review your expenses and prioritize essential spending. Consider the following cost-cutting measures:

• Eliminate Non-Essential Subscriptions: Cancel subscriptions or services that are not currently critical to your business operations.

• Optimize Inventory Management: Implement efficient inventory management practices to reduce excess stock and minimize holding costs.

• Review Utility and Overhead Costs: Evaluate your utility and overhead expenses and explore ways to reduce them — such as the use of energy-efficient equipment and appliances.

5. Explore a business credit line. If your cash flow gap persists, it may be time to explore financing options to bridge the gap. One effective solution is a credit line, a financial tool that provides flexible access to funds when needed, similar to a credit card.

In the Philippines, some financing companies, such as First Circle, offer non-collateral and free-to-open credit lines. This means you can activate a credit line before even encountering a cash flow gap, then keep it on standby as needed. New credit line applications can also be processed in as fast as two business days — a definite advantage over business loans, which can take a while to get approved.

Experiencing a cash flow gap is a common challenge for business owners — but it doesn’t have to derail your business. By being proactive in analyzing your cash flow, optimizing your accounts receivable, and reducing unnecessary expenses, you can come up with solutions that do not require coming up with money upfront. And in dire cases, exploring financing options, like a credit line, can help you right the ship quickly — just like it did for Henry, who applied for and activated a credit line in the three days before his payroll obligations were due. n

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.

 

Benedict S. Carandang is a member of the MAP Technology Committee and is the VP for External Relations of First Circle. This article was co-written with Jess Jacutan, an SEO and content marketing consultant for First Circle, an SEC-registered financial technology company that has been empowering SMEs through funding and free growth tools since 2016.

map@map.org.ph

benedict@firstcircle.ph

DMCI Homes eyes P6.55-B investment in Quezon City project The Erin Heights

DMCIHOMES.COM

DMCI HOMES, Inc. plans to invest P6.55 billion in developing The Erin Heights, a 55-storey high-rise condominium in Quezon City, slated for turnover by October 2027.

The project is expected to generate P12.3 billion in revenues, Dennis O. Yap, vice-president for project development at DMCI Homes, said in an e-mail.

Located on the corner of Commonwealth Avenue and Tandang Sora Avenue in Quezon City, The Erin Heights will comprise 1,606 units, with approximately 54% already sold.

“Beyond its prime location and luxurious amenities, The Erin Heights is designed to provide a seamless balance between work and leisure, making it an ideal sanctuary in the heart of a bustling city,” DMCI Homes said in a statement on Feb. 11.

The property offers studio-type units ranging from 28.50 to 32.50 square meters (sq.m.), two-bedroom units from 48.50 to 117 sq.m., and three-bedroom units from 76.50 to 183 sq.m.

Units feature balconies or extended living areas, designed to maximize natural light and ventilation through DMCI Homes’ Lumiventt technology. The modern tropical design aims to provide a sense of tranquility amid the urban landscape.

Approximately 53% of the total area is allocated for open spaces, including gardens, pools, and leisure facilities.

Other key amenities include a Sky Lounge with a snack bar and kitchenette and a Sky Deck Pool overlooking the city skyline.

Residents will also have access to landscaped atriums, an open lounge, a fitness gym, a shooting court, a lap pool, a leisure pool, a kiddie pool, a game area, and a coworking space.

The development will offer subscription-free, commercial-grade fiber internet.

For transportation, DMCI Homes’ carpool program, RideShare, will provide residents with convenient access to key locations.

A property management office within The Erin Heights will ensure a well-maintained, worry-free, resort-like living experience.

Strategically located near business hubs, universities, major transport networks, healthcare facilities, leisure destinations, and nature parks, the project offers prime accessibility.

To ensure construction quality, DMCI Homes said it employs a 102-point inspection system, conducting detailed checks and testing at every phase to meet DMCI specifications, industry standards, and government regulations.

The structure features an outrigger system strategically designed to provide lateral load resistance against strong winds and earthquakes. This advanced engineering method is also used in landmarks such as Burj Khalifa in Dubai and Taipei 101 in Taiwan.

As of January, the project is 36.57% complete, remaining on schedule for its 2027 target completion. — Beatriz Marie D. Cruz

Banks’ deposits rise to P20.37 trillion

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THE PHILIPPINE banking system’s total deposits rose by 7% year on year to P20.37 trillion in 2024 from P19.03 trillion in 2023 on the back of increases in total accounts and depositors.

Latest Bangko Sentral ng Pilipinas (BSP) data showed that the number of deposit accounts jumped by 17.9% to 143.35 million as of end-December 2024 from 121.6 million a year prior.

The number of depositors likewise climbed by higher by 14.7% year on year to 128.73 million from 112.27 million.

The Philippine banking system’s deposit liabilities were mostly made up of savings (P8.84 trillion), time (P5.88 trillion) and demand (P5.62 trillion) deposits, the data showed.

Broken down, deposits held by universal and commercial banks went up by 6.8% year on year to P19.1 trillion at end-December from P17.88 trillion.

Big banks had a total of 92.99 million accounts and 86.01 million depositors in the period.

Meanwhile, thrift banks recorded deposits of P826.205 billion as of December, up by 4.7% from P789.31 billion a year prior. The number of deposit accounts at these lenders stood at 7.42 million, with 7.27 million depositors.

Deposits of rural and cooperative banks also climbed by 19.8% to P350.178 billion at end-2024 from P292.24 billion the previous year. These banks had a total of 23.55 million deposit accounts and 23.05 million depositors.

Lastly, digital banks’ total deposits surged by 39.5% to P96.27 billion at end-December from P69 billion a year prior.

The number of deposit accounts at digital banks hit 19.39 million with 12.4 million depositors.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said the growth in Philippine banks’ deposits was partly due to faster lending.

Separate BSP data showed that outstanding loans of universal and commercial banks jumped by 12.2% year on year to P13.1 trillion in December. This was the fastest pace of bank lending growth in two years.

“Furthermore, deposits growth also partly sustained by local employment data among the best in nearly 20 years or since revised records started in 2005, thereby also partly supporting consumer spending, which accounts for more than 70% of the economy,” he added.

Increases in overseas Filipino workers’ remittances, business process outsourcing revenues and tourism receipts also supported the continued growth of bank deposits as well as consumer spending, Mr. Ricafort said. — Luisa Maria Jacinta C. Jocson

Robert De Niro makes TV debut in Zero Day, but hesitant on future TV roles

Robert De Niro and Angela Bassett in a scene from Zero Day.

NEW YORK — After a six-decade-long career, Taxi Driver actor Robert De Niro is starring in his first television series — but he is not convinced he would do it again.

“I don’t know. It’s a lot of work. It’s like doing three features back to back,” said the veteran American actor.

Mr. De Niro portrays a former US president in Netflix’s limited series Zero Day, which explores themes of truth and disinformation.

Mr. De Niro’s character leads the Zero Day Commission in the wake of a cyberattack that has inflicted chaos and claimed thousands of lives in the United States.

Matthew Modine, who plays a politician, said the show’s plot reflected how trust was being lost in institutions.

“It’s not the question of if a cyberattack will happen on the United States or in some other country around the world. It’s when,” he said.

Preparation for the role was intense, according to Mr. De Niro.

“It was a lot of work to learn all that and a lot of it was exposition, especially in certain parts,” he said. “There wasn’t much room for paraphrasing and stuff like that, or adlibbing… But it was worth doing, you know?”

The show was filmed during the last US presidential election campaign and creators Noah Oppenheim and Eric Newman said they were surprised how much art seemed to imitate life.

“Every day we’d be on set, and whether it was election-related news or just some other event in the world, we would see things happening that when we had written about them in the show, we had thought were fictional, you know, fancies and pieces of speculation,” said Mr. Oppenheim.

“And then we watched as these things unfolded in the real world.”

Zero Day, which among others also stars Angela Bassett and Jesse Plemons, is now streaming on Netflix. — Reuters

Toll operators to DoTr: Cashless system key to interoperability

PHILIPPINE STAR/ MICHAEL VARCAS

TOLLWAY OPERATORS on Monday said they welcome the decision to reassess the implementation of cashless toll collection but emphasized that its full adoption is necessary to enable interoperability among toll wallet systems.

“SMC Infrastructure acknowledges Transportation Secretary Vince Dizon’s initiative to review the implementation of cashless toll collection across all expressways, recognizing that the new leadership may want to reassess the policy before moving forward,” SMC Infrastructure said in a statement.

Last week, newly appointed Department of Transportation (DoTr) Secretary Vivencio B. Dizon ordered the Toll Regulatory Board (TRB) to suspend the full cashless toll collection system, which was scheduled for implementation on March 15. 

“I gave the instruction already to TRB to suspend that (cashless transaction). We have to make sure that the current system in place is as efficient as possible,” Mr. Dizon said in a separate statement on Monday.

This marks the third postponement of the policy’s rollout. Under Joint Memorandum Circular No. 2024-001, fines for motorists using expressways without RFID (radio-frequency identification) tags were initially set to take effect on Oct. 1 last year. However, the Transportation department deferred the implementation to 2025 to allow tollway operators and relevant agencies more time to refine their systems. 

SMC Infrastructure, which operates San Miguel Corp.’s (SMC) toll road network, said it has been working closely with the government for the past five years to enhance the tolling experience for motorists. 

“A key part of this effort has been ensuring full interoperability among electronic toll collection (ETC) systems across expressways,” SMC Infrastructure said.

It added that a crucial prerequisite for achieving interoperability is the full adoption of cashless and contactless toll collection.

The TRB previously said that implementing a cashless toll collection system is essential for the planned electronic toll collection interoperability. It also plans to introduce a unified RFID wallet system that can be used across various tollways. 

“Without a uniform cashless system, seamless integration between different toll operators cannot be fully realized. We understand the need to ensure that any transition to cashless tolling is seamless and truly beneficial to the public,” SMC Infrastructure said.

For his part, Metro Pacific Tollways Corp. (MPTC) Chairman Manuel V. Pangilinan said the company is set to meet with Mr. Dizon this week to discuss the suspension of cashless toll collection.

Additionally, Mr. Pangilinan said the company remains optimistic about the potential implementation of a barrierless toll system despite the suspension of the cashless toll collection policy.

“I think it will take time. We want to test it further, but it is within our sight. Other countries have done it, and it decongests the system,” Mr. Pangilinan told reporters on Monday. 

MPTC is the tollway subsidiary of Metro Pacific Investments Corp., one of three key Philippine units of Hong Kong-based First Pacific Co. Ltd., alongside Philex Mining Corp. and PLDT Inc. 

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., holds a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Ashley Erika O. Jose

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