New barcode system seen to benefit supermarkets

August 22, 2023 | 12:06 am

SUPERMARKETS are set to benefit from the planned adoption of a new barcoding system by 2025 as this would help make their operations more efficient, according to an industry group.

Philippine Amalgamated Supermarkets Association President Steven T. Cua said the upcoming shift to the quick response (QR) code matrix 2D barcodes from the 1D black and white vertical lines would boost the efficiency of retailers.

“The benefits include efficiency in transactions on the part of retailers,” Mr. Cua told BusinessWorld in a Viber message, citing “pertinent product information on the part of store merchandise buyers like place of origin, date of manufacture/harvest, date of expiration/spoilage, and customers (institutional/commercial users, smaller retailers and end-users).”

However, Mr. Cua said the new price coding system would require a change in the software and hardware used by supermarkets.

He added that it would take longer for smaller retailers to implement the new barcode due to the required capital outlay unless service providers would introduce installment payment programs.

“Supermarkets are totally unprepared for this given an overhaul in this price-capturing system. There is, after all, a need for advanced scanning technology/software requiring totally new hardware,” Mr. Cua said.

“The new price coding system using the QR Code requires a total change of software and hardware to capture the more comprehensive data of manufactured products and fresh produce. The sooner retailers jump into the fray to create volume for software and hardware providers, the cheaper the technology becomes available to retailers,” he added.

Meanwhile, Mr. Cua said the economy would also benefit from the shift to the new barcoding system since it would be implemented globally by 2025.

Mr. Cua said that since the global system will be uniformly implemented worldwide — much like the current barcode system — the country should adopt it “to make trade and merchandising of products hailing from anywhere in this planet easy to understand, monitor and acceptable.”

He added that local food retailers “will have to swallow the bitter pill” and shift or adopt the “new economic order within the next few years or be left behind in serving the demands of evolving consumers.”

The Philippine Retailers Association previously said that the new barcoding system would be trialed in the country by the first quarter of next year ahead of the upcoming global implementation. Both 1D and 2D barcodes will be used in the first two years of implementation to allow a transition period for retailers and manufacturers.

Some of the expected benefits of the new barcode include better traceability with more available information and more consumer-friendly as the QR code also contains other product information that could be accessed by consumers. — Revin Mikhael D. Ochave

LIONSGATE Play stabilizes subscriber base in Southeast Asia

August 22, 2023 | 12:05 am

LIONSGATE Play, the global streaming service of entertainment company Lionsgate, is planning to stabilize its subscriber base in Southeast Asia this 2023 by seeking out mobile and broadband partnerships in the region and continuing to provide adrenaline-fueled action and suspense content.

“We launched in the Philippines last year and we’re very happy having partnered with broadband service provider PLDT. The awareness of our streaming platform among PLDT users is 70% upwards,” said Amit Dhanuka, Lionsgate Play’s Executive Vice President for South Asia and Southeast Asia, at a media event in August.
“Asia is a significant contributor to the app’s growth even though we only entered the market in 2019,” he said, adding that it grew four or five times during its first year in the Philippines.

Lionsgate Play is hoping to be the biggest provider of the content they specialize in, which are “edgy, provocative, thrilling” action films and TV series, according to Mr. Dhanuka. Known titles on the platform include The Hunger Games, the Twilight saga, John Wick, Saw, and Mad Men. It also streams awards shows like the Emmys and the Golden Globes. Its latest offering is an espionage drama called Gray, which premiered exclusively in the Philippines on Aug. 18. New titles are added every Friday.

PLDT HOME PARTNERSHIP
Lionsgate Play Philippines’ country manager Ma. Cecilia Marino said that their exclusive partnership with PLDT Home gives Fiber users full access to the platform. “We can really deliver compelling stories to the Filipino audience by building partnerships with mobile and broadband,” she said. Mr. Dhanuka added that once the subscriber base is stable, they will consider producing more local content for the Philippines.

“We have around 20 million subscribers globally and we expect Southeast Asia to be crucial in growing that number,” said Mr. Dhanuka.

Early in August, Lionsgate Play even rebranded its service in the region, changing to a multicolored iridescent design and upgrading the look and interface of the app. The rebranding is meant to show that the platform’s content has “the variation of a prism,” according to Ms. Marino. Its app rating on the Play Store is currently at 4.0 stars.

For more information, visit https://pldthome.com/lionsgateplay. 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. — Brontë H. Lacsamana

Bucking headwinds: Landlords and tenants navigate an evolving work landscape in PHL

August 22, 2023 | 12:05 am

Office space — STOCK PHOTO | Image by Adolfo Félix from Unsplash

LIKE the Philippine property market in general, Colliers is seeing positive trends for the Metro Manila office market.

Occupiers can benefit by re-thinking their workplace as an investment that can help achieve their company’s vision and goals. In our view, the office can be maximized not only in terms of space utilization but also in terms of its value in talent recruitment and retention, and how it can align both employee and company values.

Metro Manila saw a marginal decline in office vacancy due to improved transaction activity and a slowdown in non-renewals in the first half of 2023.

Uneven recovery in rents is still being experienced across Metro Manila submarkets, with rental recovery noted in Makati central business district (CBD), Fort Bonifacio and Ortigas CBD.

Net absorption for the second quarter has improved, mainly driven by higher transactions volume coupled with the slowdown in vacated spaces.

With these new developments in the market, we project a higher net take-up by year-end. However, vacancy is still expected to remain elevated with more supply coming online in the latter part of 2023.

Colliers believes that landlords and tenants should continue seizing opportunities given the current tenant-leaning market. Occupiers may consider implementing flight-to-value or incorporate flex workspace in their real estate strategies.

With the increased interest in ESG (environmental, social, and corporate governance) and DE&I (diversity, equity, and inclusion), landlords can work with tenants on office renovations and incorporate these elements within building amenities and common areas to help align corporate and employee values.

INVEST IN A WORKPLACE THAT ‘WORKS’
Amid the ongoing transformation of the workplace and the workforce, occupiers should facilitate continuous dialogue with their stakeholders to determine how best they work and what can retain and attract talent to the organization.

Occupiers continue to see the office as critical to employee engagement, especially for new hires. More are using the office as a recruitment tool and training floor, as it now becomes a company’s platform to encourage people to come together.

With the renewed interest in DE&I and ESG, occupiers should consider these in their real estate strategies. Reflecting this in workplace strategy and design helps in differentiating the company and ensures talent retention.

CONSIDER PROVINCIAL STRATEGY TO CLOSE GAP BETWEEN WFH AND RTO
One of the major employee concerns on return to office (RTO) is the cost of moving back to their Metro Manila head offices. Implementing full RTO increases the risk of employee attrition, which can be costly for companies.

To address this, opening sites in provincial areas may be a viable strategy to address the gap between work from home (WFH) and RTO for employees.

SUBSTANTIAL SUPPLY FOR 2^ND HALF 2023
In the second quarter of 2023, Colliers recorded the delivery of 80,400 square meters (852,200 square feet) of new office space, with the completion of Primex Tower in San Juan and Parqal Buildings 1-9 in the Bay Area.

In 2023, Colliers expects the completion of 668,400 sq.m. (7.2 million sq.ft.), higher than our previous estimate of 569,100 sq.m. (6.1 million sq.ft.) as some landlords are on track to meet their buildings’ completion timelines to accommodate upcoming demand.

We project 538,900 sq.m. (5.8 million sq.ft.) of additional supply coming online in the second half of 2023, with Fort Bonifacio, Ortigas CBD and Quezon City likely accounting for nearly two-thirds of the new supply.

Meanwhile, 402,000 sq.m. (4.3 million sq.ft.) in the pipeline were put on hold or shelved by developers as of the first half of 2023, higher than the 166,000 sq.m. (1.8 million sq.ft.) in the first quarter of 2023. In our view, these projects may be redeveloped or reactivated by developers in the future.

From 2023 to 2025, Colliers sees the completion of 492,400 sq.m. (5.3 million sq.ft.) annually. This is only half of the one million sq.m. (10.8 million sq.ft.) completed annually from 2017 to 2019, a period wherein office completion was heavily influenced by the Philippine Offshore Gaming Operators’ (POGO) demand.

TRANSACTIONS DOWN 5%
In the first half of 2023, office deals in the capital region reached 306,000 sq.m. (3.3 million sq.ft.), down 5% year on year. Traditional firms including government agencies, telcos, insurance firms, and flexible workspace operators logged transactions of 125,700 sq.m. (1.4 million sq.ft.).

In the second quarter of 2023, outsourcing and shared services firms dominated transactions with 73,000 sq.m. (785,500 sq.ft.) of closed deals. Colliers has observed that most outsourcing firms are still actively expanding and are employing flight-to-value strategies despite hybrid work arrangements, transferring to new, high-quality towers in Makati CBD, Fort Bonifacio, and Ortigas Center.

Per submarket, the Bay Area, Ortigas CBD and Makati CBD recorded the largest volume of transactions in the first half of 2023, covering 57% of total office deals in Metro Manila.

Among the notable transactions in the first half of 2023 include spaces leased by Telus, 24/7 Intouch and Reed Elsevier in Quezon City; IGT Solutions in Alabang; Chevron and Opentext in Makati CBD; and Transparent BPO and the Department of Transportation (DoTr) in San Juan City.

SUSTAINED PROVINCIAL DEALS
Office transactions in key provinces rose quarter on quarter as deals in the first quarter of 2023 reached 60,400 sq.m. (649,900 sq.ft.), from 29,300 sq.m. (315,300 sq.ft.) a quarter ago.

In the first half of 2023, these deals totaled 89,700 sq.m. (961,900 sq.ft.), a marginal drop from the 90,700 sq.m. (975,900 sq.ft.) recorded a year ago. Cebu accounted for 48% of total provincial deals, mostly from outsourcing firms, followed by Pampanga (26%) and Davao (11%).

Colliers is optimistic that gains in the Metro Manila office sector will be sustained for the remainder of the year. The profile of tenants occupying physical space remains diverse while key office hubs outside Metro Manila continue to record transactions. Optimistic business sentiment and robust macroeconomic growth forecast should support firms’ expansion over the next 12 months.

Kevin Jara is the associate director for office services — tenant representation at Colliers Philippines.

AllHome, AllDay set to resume store expansion

August 22, 2023 | 12:05 am

LISTED companies AllDay Marts, Inc. and AllHome Corp. are set to begin expanding their retail stores starting next year, its top official said.

“By next year, we will resume our expansion. We will start the expansion of AllDay and AllHome,” Manuel B. Villar, Jr., the companies’ chairman, told reporters in a recent briefing.

Mr. Villar said the companies’ expansion efforts would begin with smaller freestanding projects.

“Smaller siya pero pareho pa rin, freestanding pero mas maliit,” he said.

(It’s much smaller but still the same as previous projects, freestanding but smaller.)

He added that the Villar group’s retail businesses were largely affected by lower foot traffic mainly attributed to the pandemic.

“We will come back strongly next year,” he said. “Most of our [retail businesses] are mall-based.”

Both companies said earlier that part of the proceeds from their initial public offering would be used for store expansions, with the rest for debt repayment and capital expenditures.

AllDay conducted its maiden listing on the Philippine Stock Exchange in 2021, while AllHome held its market debut in 2019.

For the second quarter, AllHome reported an 8.1% decline in attributable net income to P229.85 million from P250.02 million, mainly attributed to higher expenses by 3.8% to P2.75 billion.

Its top line for the three-month period inched up by 3% to P3.12 billion from P3.03 billion in the same period last year.

Meanwhile, AllDay’s attributable net income for the second quarter fell by 4.4% to P83.40 million from P87.21 million a year ago.

Its revenues rose 6.8% during the April-to-June period to P2.46 billion from P2.30 billion in the same period last year.

The company’s first-half attributable income surged to P171.97 million, a significant rise from P11.63 million a year earlier.

Last Friday, AllDay shares went up by 0.6% or P0.001 to P0.169 apiece while AllHome shares rose by 1.25% or two centavos to P1.58 apiece last Friday. — Adrian H. Halili

T-bill, bond yields likely to inch higher

August 22, 2023 | 12:04 am

RATES of Treasury bills (T-bills) and bonds on offer this week could rise slightly after the Bangko Sentral ng Pilipinas (BSP) kept borrowing costs unchanged last week but said it is ready to raise rates if needed amid upside risks to inflation.

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

On Wednesday, it will offer P30 billion in reissued 20-year Treasury bonds (T-bonds) with a remaining life of 15 years and five months.

T-bill and T-bond rates may inch up after the central bank held its key rate at its policy meeting last Thursday, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

“The 15-year auction [this] week will likely fetch a rate between 6.75%-6.9% as investors will likely ask a steep premium given what seems a long pause ahead of us,” a trader added in an e-mail.

The BSP kept its benchmark interest rates steady for a third straight meeting on Thursday, but signaled that it is prepared to resume tightening if needed amid risks to inflation.

The Monetary Board left its overnight reverse repurchase rate unchanged at a near 16-year high of 6.25%, as expected by 13 economists in a BusinessWorld poll. Interest rates on the overnight deposit and lending facilities were maintained at 5.75% and 6.75%, respectively.

The BSP has raised borrowing costs by 425 basis points (bps) from May 2022 to March 2023 to tame inflation.

BSP Governor Eli M. Remolona, Jr. said after the meeting on Thursday that the BSP is “ready to tighten” if necessary, as it keeps a close eye on developments that may impact inflation.

The Monetary Board will hold its next policy meeting on Sept. 21.

Mr. Ricafort added that the yields could also rise after the central bank raised its inflation forecasts to 5.6% from 5.4% for 2023, 3.3% from 2.9% for 2024, and 3.4% from 3.2% for 2025.

Headline inflation eased for the sixth consecutive month to 4.7% in July from 5.4% in June, bringing the seven-month average to 6.8%, well above the BSP’s 2-4% target for the year.

At the secondary market on Friday, the 91- and 182-day T-bills went down by 9.26 bps and 5.55 bps week on week to end at 5.7649% and 5.9996%, respectively, based on the PHP Bloomberg Valuation Service Reference Rates data published on the Philippine Dealing System’s website.

Meanwhile, the 364-day T-bills inched up by 5.28 bps to end at 6.3285%

The 20-year bond inched down by 1.54 bps week on week to end at 6.6839%.

Last week, the BTr raised just P12.185 billion via the T-bills it auctioned off, short of the P15-billion program, even as total bids reached P40.435 billion or more than two times the amount on offer.

Broken down, the Treasury made a full P5-billion award of the 91-day T-bills as tenders for the tenor reached P16.307 billion. The average rate of the three-month paper rose by 10.6 bps to 5.704%, with accepted rates ranging from 5.648% to 5.740%.

Meanwhile, the government raised just P3.83 billion from the 182-day securities out of the planned P5 billion despite bids for the tenor reaching P13.36 billion. The average rate for the six-month T-bill was at 5.945%, inching down by 4.5 bps, with accepted rates at 5.9% to 6%.

The BTr also borrowed just P3.355 billion via the 364-day debt papers out of the P5-billion program, even as demand reached P10.768 billion. The average rate of the one-year T-bill went up by 3.1 bps to 6.325%. Accepted yields were from 6.3% to 6.35%.

Meanwhile, the reissued 20-year bonds to be offered on Wednesday were last auctioned off on Nov. 28, 2019, where the government raised just P12.271 billion out of the P20-billion program. The bonds were awarded at an average rate of 5.341%.

The BTr wants to raise P225 billion from the domestic market this month, or P75 billion via T-bills and P150 billion via T-bonds.

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

Zack Tabudlo goes global

August 22, 2023 | 12:04 am

THIS YEAR, Filipino pop artist Zack Tabudlo entered the global stage with the release of his latest song “Fallin’,” a collaboration with South African rapper Nasty C as part of Coke Studio, Coca-Cola’s global music platform. As of Aug. 14, a month after the song dropped, its corresponding music video has reached 4.6 million views.

Mr. Tabudlo performed in a Coke Studio mini concert on Aug. 15 in BGC, where he sang his hit “Nangangamba” and the catchy track “Gusto,” which features rapper Al James.

Coke Studio brings together emerging and established music acts from around the world. “It’s not just about us celebrating seven years in the Philippines. It’s also the second year of the global Coke Studio project and a fitting time to elevate Filipino talent on the global stage,” said Teejae Sonza, Coca-Cola Group’s marketing director for Asia Pacific at Mr. Tabudlo’s mini concert.

The song “Fallin’” combined two rising powerhouses from different parts of the world, making it one of the top regional collaborations on the platform, according to Ms. Sonza. “There was a global song but there were regional duets as well, and it was the second most-viewed of the regional duets,” Ms. Sonza said.

The official Coke Studio anthem for 2023 was “Be Who You Are (Real Magic),” by Grammy-winning American musician Jon Batiste, featuring NewJeans, J.I.D, Camilo, and Cat Burns.

“It’s also heartwarming to read the comments and see South African fans of Nasty C discovering the talent of Zack. We take great pride in enabling these global collisions,” Ms. Sonza said of this year’s concept.

Al James, who was a guest at Mr. Tabudlo’s mini concert and had previously worked with him on the song “Gusto,” was a Coke Studio Philippines alumnus himself, featured in season three back in 2019.

“These major stages and opportunities for exposure and collaboration with other artists makes being part of this platform so exciting. Thank you as well to the Filipinos who support me, Zack, and all the Pinoy musicians who are reaching greater heights,” he told the press at the concert.

Coke Studio Philippines will be planning more events this 2023, such as the biggest Coke Studio concert in the country, fan engagements, and live brand experiences. — Brontë H. Lacsamana

Seda Hotels opens 12^th property in the Philippines

August 22, 2023 | 12:04 am

SEDA HOTELS recently opened its 12^th property in the Philippines.

Seda Manila Bay, located in Entertainment City, Parañaque City, offers 350 rooms ranging from deluxe rooms to suites.

“We are proud to see Seda Hotels flourish and continue to expand its footprint in the Philippines. Seda Manila Bay will carry on the brand’s commitment to providing unparalleled Filipino hospitality combined with service at par with global standards,” Javier Hernandez, president and CEO of AyalaLand Hotels and Resorts, said in a statement.

Hotel amenities include a water playground, a children’s playroom, a game room, and a gym.Guests can relax at the Seda Spa, which has private massage rooms. The hotel is also planning to open a mini-golf area.

Seda Manila Bay General Manager Jeffrey Enriquez said the hotel has a ballroom with a capacity of up to 350, as well as smaller meeting rooms.

“Guests can also expect a diverse and flavorful dining experience at Seda’s signature outlets, Misto restaurant, which serves a medley of international and local dishes, and very soon, Straight Up rooftop bar — perfect for catching the world-famous Manila Bay sunset,” Mr. Enriquez said.

The hotel’s location is perfect for business travelers, as it is only 15 minutes away from the Ninoy Aquino International Airport and a 30-minute drive to the Makati and Bonifacio Global City central business districts.

DITO CME in talks with investors for capital

August 22, 2023 | 12:04 am

DITO CME Holdings, Inc. said it is in talks with interested parties for potential capital-raising agreements to support its telecommunications business, DITO Telecommunity Corp.

“We are talking to a lot of interested parties. In due time we will announce. [These are] both local and international,” DITO CME President Ernesto R. Alberto told reporters in an interview last week.

Mr. Alberto said the telecommunications industry still attracts interest from the investment community.

“The market has been very lackluster in the last three years, with the pandemic and all, but at least it is coming along, things are getting better and there is a lot of interest from the investment community particularly in this unique space of having a digital active country with a young population with only three major enablers,” said Mr. Alberto.

He also said that the company will continue to spend a minimum of $1 billion a year to catch up with incumbent telco players, noting that the industry is capital-intensive.

He said the primary objective of DITO CME is to raise as much investment to fund its critical projects as the country’s so-called “third telco.”

“The benefit of us being a new player is we are devoid of any legacy; it is all brand new 4G. And if we think 4G is going to be replaced by 5G in the clear horizon that’s where we should participate in the play,” he added.

In its quarterly report, DITO CME said that it is expecting the closing of a project finance loan facility from creditors of up to $3.9 billion in the second half of the year.

On Feb. 13, DITO CME entered into a shareholder loan agreement amounting to P5.2 billion which it can draw on to address operating expenses and maturing obligations. By the end of the second quarter, the company said that its total drawdowns totaled P3.5 billion.

DITO CME has committed to spending P257 billion over a five-year period for the commercial rollout of DITO Telecommunity to pass the regulatory audits within the period.

“We satisfied the fourth-year technical audit of achieving 80% coverage so what remains is the fifth and last year of regulatory audit that will herald that we are indeed a full-pledge telco player in the industry,” said Mr. Alberto.

For the fifth technical audit, the company is required to increase its population coverage to 84% while maintaining the minimum speed of 55 megabytes per second for 4G.

“Despite the challenges, the telco is working hard and still very hopeful that they can meet EBITDA (earnings before interest, taxes, depreciation, and amortization) breakeven by end of 2025 and looking to make a profit in 2028,” he said. — Justine Irish D. Tabile

No to return of bus chaos on EDSA

August 22, 2023 | 12:04 am

edsa bus carousel — PHILIPPINE STAR/MIGUEL DE GUZMAN

The Management Association of the Philippines (MAP) commends the Metro Manila Development Authority (MMDA) for upholding the retention of the new EDSA busway system — thus continually improving bus traffic flow in this busiest major thoroughfare — and rejecting the proposal of bus operators to revert to the discarded practice of using two yellow bus lanes at the curbside for 3,000 bus units to resume operations.

The MAP likewise strongly opposes the proposal of bus operators for the simple reason that for the past three years, it has been demonstrated that the EDSA busway and bus carousel line system is a far superior public bus transport system because it was able to carry a one-day peak load of 454,649 passengers on Dec. 27, 2022 using no more than 550 bus units running on just one innermost busway lane with more spare system capacity to meet higher demand. Capital expenditures, excluding cost of rolling stock, by the National Government was only about P500 million, which translates to the lowest capital cost-to-passenger ratio among transit systems.

Although still a work in progress, other remarkable performances of the Busway were achieved. The average daily busway ridership reached 380,378 during the heavy Christmas season in December. Total ridership reached 154,100,856 from June 2020 to December 2022. Drivers are more disciplined, and they stop only at bus stations and do not linger there. Commuters’ travel time was reduced, allowing them to be more productive at work and enjoy quality time with their families. The Busway has also facilitated travel for ambulances and emergency vehicles. This high performance was achieved due to the higher efficiency of the inner lane busway as a people mover.

In sharp contrast, the discarded and highly inefficient two yellow curbside (outermost) lanes bus system gained worldwide notoriety as more than 3,000 buses jammed EDSA bumper to bumper, while hapless passengers and other commuters suffered long commuting hours and massive volumes of noxious exhaust fumes that polluted the air. The drivers were impervious to discipline. Buses loaded and unloaded anywhere with impunity, weaving in and out of lanes in chaotic fashion. Reverting to the failed yellow bus lane system will be grossly detrimental to commuters, to bus operators themselves and to the economy. Opportunity losses from traffic congestion may likely gallop way past the previously estimated P3.5 billion daily.

The main reason for the failure of the yellow bus lanes was their location in the outermost lanes. Being traffic conflict lanes, they are not ideal for bus mass transit in high density urban corridors because bus traffic flow was prone to interruption by vehicles exiting and entering the corridor from the many side streets. Access control to the curbside lanes was not possible and nonaccredited buses easily entered to bloat the bus fleet.

On the other hand, the inner lane busway was introduced abroad more than 50 years ago as a better alternative to curbside bus lanes. Busways have globally accepted standards and best practices, and chief among them is the alignment of the busway at the inner lane away from the traffic conflict curbside. Another is they must be dedicated to the exclusive use of public buses with no mixed traffic allowed. These are nondiscretionary features of the tried and tested system. It was precisely for these reasons that the busway was persistently advocated by the MAP transport reform advocates starting in 2015 as the ideal replacement for the yellow bus lanes.

Exercising strong political will, the Department of Transportation (DoTr) introduced the new EDSA busway at the innermost lanes. As a complementary measure, the Bus carousel line, developed by the DoTr Land Sector Team in consultation with bus operators, was introduced to operate on the busway with 550 maximum bus units. This transformational change introduced in June 2020 ushered in a new normal on EDSA, providing a sustainable commuter-friendly alternative bus system that is unimpeded by traffic, under rain-or-shine conditions and with less air pollution.

The consortium of bus operators now seeks to undo this structural public bus transit reform despite the benefits already shown.

We earnestly urge the DoTr to stay the course and expedite the completion of this project, preferably in partnership with a private concessionaire, while adhering to global standards and best practices.

Moving forward, full completion and upgrade of the busway up to global standards with a bus exchange system for convenient transfer of commuters to feeder lines will attract motorists to take public transit and leave their cars at home. This shift will reduce vehicle volume and decongest EDSA. Car lanes may also be reduced to make way for wider sidewalks to enhance nonmotorized mobility and planting of trees.

Efficient mass public transport and nonmotorized mobility are the long-term solutions to traffic congestion as envisioned by the National Transport Plan.

We call on other concerned sectors to link arms in continuing efforts to improve public transportation efficiency that is key to our people’s well-being.

Benedicta Du-Baladad is the president of MAP, while Eduardo H. Yap is chairman of the MAP Infrastructure Committee.

Entertainment News: Weezer to have first show in Philippines

August 22, 2023 | 12:03 am

Weezer arrives in the Philippines in October

Weezer, behind the hits “Say It Ain’t So,” “Buddy Holly,” “Beverly Hills,” and “Undone–The Sweater Song,” among others, is making their Philippine debut in October. The band was revealed to be part of the lineup of PLUS63 Festival Manila. Their concert will be on Oct. 14 at the SMDC Festival Grounds in Pasay City. At the music festival, Weezer will be joining Aminé, mxmtoon, Lola Amour, and PLAYERTWO, with more artists to be announced soon. Early bird tickets are on sale until Sept. 14, priced at P3,800 for General Admission and P7,000 for VIP, available on www.PLUS63Festival.com and SM Tickets outlets nationwide.

Engelbert Humperdinck returns to the Philippines

BRITISH pop singer Engelbert Humperdinck will be returning to the Philippines for a two-night concert at the Newport Performing Arts Theater on Sept. 9 and 10 as part of his ongoing world tour The Legend Continues. The iconic crooner, known as the “King of Romance” due to his passionate ballads that serenade audiences all over the world, has produced and performed hits like “Release Me,” “Quando Quando Quando,” “Spanish Eyes,” and many more. Mr. Humperdinck last performed in the Philippines in 2019. Tickets are now available at all TicketWorld and SM Tickets outlets, with prices at P12,800 (platinum), P11,800 (SVIP), P10,500 (VIP), P8,000 (gold), P5,500 (silver), and P2,500 (bronze). For more updates, visit www.newportworldresorts.com.

TV5 introduces new game show hosted by John Arcilla

TV5 announced its new game show concept, Spingo, fusing entertainment, strategy, and audience immersion through a blend of skill-based challenges and trivia. The show will have multi-awarded actor John Arcilla as its host, signifying a notable milestone in his career as he steps into the role of a charismatic game show host that must guide both contestants and viewers. The tagline “Sa bawat spin, go for the win!,” hints at how Spingo is a spin on Filipinos’ all-time favorite game of chance, Bingo. It also features an innovative twist on audience engagement by offering its viewers the chance to win big prizes via the Spingo app available via Google Play Store. John Arcilla will be accompanied by his co-host, Spingorgeous Girl Sam. Spingo premieres on Sept. 11 and will run Monday to Friday every 5:30 p.m.

Third World Romance screens nationwide

DWEIN Baltazar’s realist rom-com Third World Romance is now showing in cinemas nationwide. The film closed the 19th Cinemalaya Independent Film Festival on Aug. 12 and began screening all over the Philippines on Aug. 16. It stars real-life couple Charlie Dizon and Carlo Aquino as Britney and Alvin, who both work at the same supermarket and seek to be happy in a blue-collar world made tougher by their bleak economic reality in the pandemic. Lauded for veering away from the usual escapist rom-com formula, the film navigates love and survival through the lens of ordinary people.

Howie Severino and Atom Araullo to hold photo exhibit

TO SHARE the scenes and experiences behind many years of TV and documentary coverage all over the Philippines, I-Witness documentarists Howie Severino and Atom Araullo present “Unmasked,” a months-long photo exhibit set to run from Aug. 21, 2023, to May 26, 2024. It will be brought to various SM malls across the country, starting with SM Sta. Rosa in Laguna, which will have the exhibit until Aug. 30. Featuring photos shot while the two were producing I-Witness stories, the subject matters range from the drug war and the plight of Rohingya refugees in Bangladesh to Mr. Severino’s evacuation from the 2020 Taal Volcano eruption and his experience fighting a COVID-19 infection. “Unmasked” aims to remember a world just before the pandemic shut it down and celebrates a return to interactions where faces are visible once again. After SM Sta. Rosa, the public can catch the exhibit at SM City San Pablo, SM City Calamba, SM City Tanza, SM City Molino, SM City Trece Martires, SM City Dasmariñas, SM City Batangas, SM City Lipa, SM City Lucena, SM City Daet, SM City Naga, SM City Legazpi, and SM City Sorsogon. A complete schedule will be announced soon.

FDCP brings acclaimed foreign titles to Ayala Cinemas

THE FILM Development Council of the Philippines (FDCP) and Ayala Cinemas will be screening world cinema gems through “A-List Series Presents: FDCP World Cinema,” which runs from Aug. 23 to 29 in various Ayala Malls Cinemas in the country. Four film festival darlings from 2022 that have not yet been shown to the Filipino audience will be made more accessible. These include Aftersun directed by Charlotte Wells, Close directed by Lukas Dhont, Corsage directed by Marie Kreutzer, and Return to Seoul directed by Davy Chou, which originate from the United Kingdom, Belgium, Austria, and Cambodia respectively. The films have won multiple awards from the Cannes Film Festival, BAFTA Awards, Oscars and Asia Pacific Screen Awards. They will be screened at the following Ayala Malls Cinemas: Manila Bay, Greenbelt 3, Trinoma, Solenad, Capitol Central, Central Bloc, Centrio, Abreeza, and Harbor Point. Admission prices are at P250 in Metro Manila and P200 in provinces. For updates, follow Ayala Malls Cinemas on Facebook.

BSP commits to sustainable investing principles

August 22, 2023 | 12:03 am

THE CENTRAL BANK has joined a global network of public and private institutions committed to incorporate environmental, social, and governance (ESG) issues into investment decisions.

The Bangko Sentral ng Pilipinas (BSP) has signed the Principles for Responsible Investment (PRI), which were developed in 2005 in a process convened by then-United Nations (UN) Secretary-General Kofi Annan, it said on Monday.

“By signing the PRI, investors commit to integrating ESG issues into their policies, consistent with their fiduciary responsibilities,” the BSP said in a statement.

The PRI is a set of principles developed by investors in partnership with the UN. The principles prompt signatories to incorporate ESG into investment analysis and ownership practices, as well as seek appropriate disclosure of ESG issues by entities.

The principles also include the promotion of ESG and collaboration with other members in implementing them.

PRI Chief Executive Officer David Atkin said they welcome the BSP as a PRI signatory.

“As the central bank for the Republic of the Philippines, BSP has a broad mandate and responsibilities, and a unique opportunity to influence the responsible investment ecosystem in the market,” Mr. Atkin said. “BSP is to be commended for its commitment to incorporate ESG factors into its ownership and investment decisions, and we look forward to working with the team.”

The central bank said becoming a PRI signatory is part of the BSP’s 11-point Sustainable Central Banking (SCB) strategy and complements the BSP’s membership to the Network of Central Banks and Supervisors for Greening the Financial System.

“The BSP recognizes that in fulfilling its mandates, it must take concrete actions in promoting the sustainability agenda. Joining the PRI aligns with the Bank’s mission and values,” the BSP said.

The initiative will also allow the BSP to understand responsible investing and enhance the inclusion of ESG factors in the investment process and decision making, which will help it achieve its sustainability objectives, it added.

The BSP launched its 11-point sustainability agenda last year as it seeks to mitigate climate risks by advocating green policies and practices. Under the SCB Strategy, the BSP will foster environmentally responsible and sustainable policies and work practices, as well as integrate ESG principles in its key functions and operations. — K.B. Ta-asan

Groundbreaking for One Crown Suites

August 22, 2023 | 12:03 am

MEGAWORLD CORP. recently broke ground on a new residential condominium tower, One Crown Suites, in Sta. Cruz, Manila.

Located within the three-hectare Winford Resort, the 17-storey tower offers 389 “smart home” units each with their own balcony.

The groundbreaking ceremony was led by Wilson Sy, special adviser on Chinatown Affairs, Megaworld (center). Also joining him were (left to right): Paul Chan, Megaworld Manila marketing manager; Steve Velmonte, Megaworld Manila sales director; Victor Solidum, Megaworld Manila senior assistant vice-president and head of training and digital; Jennie Torio, Megaworld senior construction manager; Carlo Cuenco, One Crown Suites project manager; Ken Tee, Megaworld Manila sales director; Paulo Guevara, Megaworld Manila sales director; and Dominique Olandesca, Bauer Foundation Philippines project manager.

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