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Philippine government seeks 2 loans from Beijing’s AIIB

Commuters line up for the Metro Rail Transit Line 3 at the North Avenue station in Quezon City, March 28, 2022. — PHILIPPINE STAR/MIGUEL ANTONIO DE GUZMAN

THE PHILIPPINES is seeking two loans, worth over $900 million in total, from Beijing-based Asian Infrastructure Investment Bank (AIIB) to finance the Manila Metro Rail Transit Line 4 (MRT-4) project and a program that will support the economy’s post-pandemic recovery.

In a document on its website, the AIIB said the Philippines is seeking a $537.4-million loan that will fund the construction of a high-capacity mass transit railway system serving the eastern part of Metro Manila.

The MRT-4 will cover 12.7 kilometers from the Epifanio de los Santos Avenue (EDSA) Ortigas Ave. junction to Taytay, Rizal. It will have 10 stations.

The project is aimed at improving urban mobility and reducing greenhouse gas emissions. Once operational, the MRT-4 is expected to serve more than 400,000 passengers daily, the Transportation department said earlier.

AIIB said the loan will be up for final review by the fourth quarter.

The first phase of the MRT-4 project is jointly co-financed by the AIIB and the Asian Development Bank (ADB).

Data from the ADB website showed that the project is expected to be fully operational by 2028.

The ADB also earlier said the project is expected to reduce travel time from Taytay to the Ortigas central business district to less than half an hour by rail.

Meanwhile, the Philippines is also seeking a $400-million policy-based loan from the AIIB to support tax reforms as the country recovers from the pandemic.

The proposed Domestic Resource Mobilization program also aims to ramp up the digitalization of tax administration and strengthen international tax cooperation.

The Philippines seeks to sustain public spending for recovery by creating the legal frameworks for tax policies. This includes three critical tax reform laws — the proposed value-added tax on digital transactions, the carbon emission trading system, and the Ease of Paying Taxes bill.

It also sought an executive order that mandates tax agencies to adopt secure digital modes of revenue collection, as well as adopt a competency framework for local treasurers.

The Philippine government is also looking to use the loan proceeds to fund the Bureau of the Internal Revenue’s (BIR) digital transformation initiative.

“It focuses on operationalizing the Internal Revenue Integrated System to enable the BIR to use taxpayer data systematically to enhance gender-sensitive taxpayer services; establishing a Data Analytics Unit to undertake data analytics for promoting taxpayer compliance, and formulating sex-differentiated tax policies, and strengthening tax audit functions,” it said.

The loan will also finance measures to advance international tax cooperation, such as implementing a gender-responsive international tax competency program and introducing tax transparency standards, among others.

The program is also co-financed by the ADB, while the loan is set to be reviewed by the fourth quarter.

In 2021, the AIIB was the Philippines’ fourth-largest source of official development assistance (ODA), with loans and grants amounting to $1.5 billion or 4.68% of total ODA. — Luisa Maria Jacinta C. Jocson

Canadian firms keen  to invest in PHL

A Canadian dollar coin is pictured in this illustration picture taken in Toronto, Jan. 23, 2015. — REUTERS

CANADIAN PENSION FUNDS and other financial institutions are keen on investing in the Philippines, the Department of Finance (DoF) said.

“The Philippines has a very interesting story to tell. The meetings we had in New York and Toronto gave us the opportunity to share with current and potential investors the country’s robust growth outlook and the engines that will drive this growth, such as the recently reopened mining industry, the rebound of tourism, and the ambitious ‘Build, Better, More’ program,” Finance Secretary Benjamin E. Diokno said in a statement.

Mr. Diokno and the rest of the economic team were in the United States and Canada last week where they met representatives from fixed-income and infrastructure funds, institutional investors, development finance institutions, mining companies, and asset management companies.

The DoF said several funds such as FinDev Canada, Ontario Teachers’ Pension Plan, OPTrust, Ontario Municipal Employees Retirement System, Healthcare of Ontario Pension Plan, as well as investment management firms Black Creek and Vanguard were looking at investing in the Philippines.

These firms showed “keen interest in the Philippines’ public-private partnership (PPP) opportunities in infrastructure, investments in sustainability and energy transition, and sovereign issuances in the pipeline,” it noted.

During an economic briefing in Toronto on July 13, Mr. Diokno noted the government is pushing for Congress’ approval of the proposed Public-Private Partnerships Act before the end of the year.

“This measure provides a unified legal framework for all types of PPPs at the national and local levels and will make the policy environment for PPPs clearer, more predictable, and more competitive,” he said.

Mr. Diokno also highlighted the Philippine economy’s robust growth, as well as recent structural reforms to accelerate trade and investment in the country.

“Canada, a global leader in clean energy, may benefit from the recent liberalization of the Philippines’ renewable energy (RE) sector. Foreign enterprises may now participate in the country’s RE sector, particularly in solar, wind, hydro, and tidal energy — that’s 100%,” he said.

The Philippines had previously limited foreign ownership of RE projects to 40%.

Meanwhile, the DoF said Toronto Stock Exchange (TSX) Head of Government Affairs David Clarke presented the Philippine economic team with opportunities “to deepen capital in mining” amid the presence of TSX-listed mining firms in the Philippines.

In a Facebook post last week, the DoF said that B2Gold Corp. is also interested in expanding its operations in the Philippines.

B2Gold is a Vancouver-based low-cost international senior gold producer that currently operates a gold mine in Masbate. — L.M.J.C. Jocson

Filinvest unit plans desalination plant in Cebu

BW FILE PHOTO

By Ashley Erika O. Jose, Reporter

FILINVEST Development Corp. Utilities, Inc. (FDCUI) plans to build a desalination facility in Cebu City with a capacity of about 80 million liters per day (MLD) to meet the growing water demand in the area, a company official said.

“The issues that were raised earlier are all about Metro Manila, but let me take everyone outside Metro Manila. Metro Cebu area’s demand is 570 MLD and you know how much water can be supplied? 270 MLD. So, as we speak there is a shortage of 300 MLD,” Juan Eugenio L. Roxas, president and chief executive officer of FDCUI, said in a water forum hosted by Stratbase ADR Institute on Monday.

Mr. Roxas said FDCUI has existing desalination projects in Cebu City but described them as small. He said the city relies solely on Buhisan Dam. Deep wells, while prohibited in Cebu, cannot use groundwater as saltwater seeps through, making it unusable.

“We have no choice but to go into desalination,” he said. “Hopefully, we will get that off the ground. The most expensive water is no water at all. It is going to be blended with the existing supply of the water districts. So, it is not going to be that expensive.”

Meanwhile, Carlos Primo C. David, undersecretary for Integrated Environmental Science of the Department of Environment and Natural Resources (DENR), said the recent rains helped increased the water level of Angat Dam, which he said “will be good for five to seven days of usage in Metro Manila.”

“Theoretically, we need two months of that much rain falling,” Mr. David said, adding that although there is no crisis, “water level is quite precarious.”

He said that while Angat Dam reached its 180-meter minimum operating level, it still needs to rise further to 208 meters to ensure the stability of supply.

“We have around five months to be able to do so that we will have enough water for the following year. Therefore, water conservation still needs to be done,” he said.

As of 6:00 a.m. on Monday, Angat Dam hit 180 meters, up from 179.06 meters the day before.

MAYNILAD SERVICE
Meanwhile, the Metropolitan Waterworks and Sewerage System (MWSS) said water service interruptions in areas served by Maynilad Water Services, Inc. are “suspended indefinitely.”

“We are assessing the inflows from the watershed,” said Patrick James B. Dizon, head of the MWSS Angat/Ipo operations management division, in a Viber message on Monday.

Maynilad earlier said that it could further suspend water interruptions amid the rising water level at the dams.

On Saturday, Maynilad announced the suspension of planned service interruptions in parts of Caloocan, Malabon, Manila, Valenzuela, Navotas, and Quezon City for July 15 to 16, saying improved supply from Ipo Dam mitigated the impact of reduced releases from Angat Dam.

Last week, the west zone water concessionaire announced that it would implement nine-hour daily water interruptions starting July 12, affecting about 591,000 customer accounts.

Meanwhile, Dittie L. Galang, head of corporation communications of Manila Water Co., Inc., said that the east zone water concessionaire is ready to tap deep wells which could yield about 100 MLD of water supply when needed.

“Currently, we are operating 49 wells with 60 MLD production. We can ramp up to 80DW with 100 MLD production when needed,” Ms. Galang said in a Viber message.

Over the weekend, Maynilad said it targets to spend P1 billion to reactivate deep wells spread across Metro Manila, which could provide around 32 MLD of additional supply in preparation for the impact of the El Niño phenomenon. 

Phinma unit maps expansion  

PHINMA Education Holdings, Inc. is planning to further expand its presence as it targets neighboring Southeast Asian countries within the next two years.

Chito B. Salazar, Phinma Education president and chief executive officer, told reporters on Monday that the company is focused on expanding to Cambodia and Laos in the next two years.

“We really love Myanmar. But our focus within the next two years is Cambodia and Laos,” Mr. Salazar said.

“There are many other groups we can help. It is not driven by the goal to be global. What drives us is really the need,” he added.

Mr. Salazar said Phinma Education had also been asked to consider India and African countries such as Zambia and Rwanda, but said the company is not “thinking about it yet.”

“There’s always enough people to serve in the Philippines. But there are also others that we can help. We’re still getting our feet wet internationally,” he said.  

Mr. Salazar said Phinma Education’s presence in Indonesia will also be bolstered with a new building as well as the acquisition of a new school. Currently, the company is managing Horizon Karawang in West Java.

“Our board already approved further investments in Indonesia, both in terms of a facility and a new school. The optimism is there already. The board approved two things, the acquisition in Jakarta and we’re going to be expanding the existing school with a new building because it needs more people and more facilities,” he said.

Meanwhile, Mr. Salazar said Phinma Education is eyeing 160,000 enrollees for school year 2023-2024, higher than the 124,501 enrollees in school year 2022-2023.

For school year 2022-2023, Phinma Education logged a 10% increase in net income to P1.09 billion, while its total revenues also rose 19% to P4.5 billion.

“This year is a convergence of our model continuing to show promise, the growing need for the services we provide, and our business doing well in all aspects. We hope to be able to reach more and more underserved students who need quality education the most, so that they can uplift themselves, their families, and communities,” Mr. Salazar said.

Phinma Education is a subsidiary of listed holding firm Phinma Corp., which saw its shares fall 10 cents or 0.49% to P20.30 each on Monday. — Revin Mikhael D. Ochave 

SEC readies listing framework for energy firms

THE SECURITIES and Exchange Commission (SEC) is preparing a framework for energy companies to comply with the public listing requirement of the Energy Regulatory Commission (ERC), an official of the agency said.

“The ERC has actually come out with a directive that [companies] have to offer 15% of their ownership. We want it to be easier for these power generators and power distributors to comply with that requirement,” SEC Director Vicente Graciano P. Felizmenio, Jr. told reporters on the sidelines of an SEC event last Friday.

Under the Electric Power Industry Reform Act, power generation companies and distribution utilities that are not publicly listed are mandated to offer and sell to the public a portion or not less than 15% of their common shares of stocks.

“We are trying to provide a very friendly environment for power generators and distributors to actually meet the requirements [of the] ERC,” Mr. Felizmenio said. “That is why we are drafting this [directive] that would ensure compliance.” 

He said the draft of the proposed framework is set to be released within the year.

Kailangan lang naming i-fine tune at i-discuss ‘yun (We would still need to fine-tune and discuss it),” he added.

Mr. Felizmenio said the proposed framework would be similar to the SEC’s Securing and Expanding Capital for Farms and Agribusiness Related Modernization Schemes or SEC Farms program, which aims to help farm-based companies in sourcing funds for their agricultural projects by selling securities through simplified registration.

The companies may raise up to P500 million per project under the program, which was launched last month.

Meanwhile, Mr. Felizmenio said an agri-based company signaled its intention to tap the SEC Farms initiative to raise funding for poultry farms across the country.

Meron nang nag-express sa amin at ang target nya is November… parang ang gusto nya is to put up a poultry farm across the country, in every region,” he said.

(One company has already expressed its intention to us, and it is targeting in November to put up a poultry farm across the country, in every region.) — Adrian H. Halili

Flight fuel surcharge stays at Level 4

STOCK PHOTO | Image by Rudy Dong from Unsplash

THE CIVIL Aeronautics Board (CAB) set the applicable fuel surcharge for domestic and international flights at Level 4 for the third consecutive month in August.

In an advisory posted on Monday, CAB Executive Director Carmelo L. Arcilla announced that the passenger and cargo fuel surcharge will stay at Level 4.

At Level 4, the CAB matrix permits a fuel surcharge per passenger of between P117 and P342 for domestic flights and from P385.70 to P2,867.82 for international flights originating from the Philippines.

Meanwhile, the cargo fuel surcharge matrix allows a per kilogram charge of 60 centavos to P1.76 for flights within the country depending on the distance, and from P1.98 to P14.74 for international flights.

“For fuel surcharge to be collected in equivalent currency, the applicable conversion rate for the same period is $1 = P55.65,” CAB said.

The CAB has been reducing the fuel surcharge since April when it brought it down to Level 6 from Level 7 in March, then to Level 5 in May, and to Level 4 in June. — Justine Irish D. Tabile

Actress and fashion icon Jane Birkin, 76

JANE BIRKIN —REUTERS

BRITISH-BORN actress and singer Jane Birkin, a 1960s wild child who became a beloved figure in France, has died in Paris aged 76.

The French Culture Ministry said the country had lost a “timeless Francophone icon”.

Local media reported she had been found dead at her home, citing people close to her. Ms. Birkin had a mild stroke in 2021 after suffering heart problems in previous years.

Ms. Birkin was best known overseas for her 1969 hit in which she and her then-lover, the late French singer and songwriter Serge Gainsbourg, sang the sexually explicit “Je t’aime…moi non plus.

She had lived in her adopted France since the late 1960s and apart from her singing and roles in dozens of films, she was a popular figure for her warm nature, stalwart fight for women’s and LGBT rights.

The “most Parisian of the English has left us,” said Paris Mayor Anne Hidalgo. “We will never forget her songs, her laughs and her incomparable accent which always accompanied us.”

Jane Mallory Birkin was born in London in December 1946, daughter of British actress Judy Campbell and Royal Navy commander David Birkin.

She first took to the stage aged 17 and went on to appear in the 1965 musical Passion Flower Hotel by conductor and composer John Barry, whom she married shortly after. The marriage ended in the late 1960s.

Before venturing across the Channel aged 22, she achieved notoriety in the controversial 1966 Michelangelo Antonioni film Blow-Up, appearing naked in a threesome sex scene.

But it was in France that she truly shot to fame, as much for her love affair with tormented national star Mr. Gainsbourg, as for her tomboyish style and endearing British accent when speaking French, which some said she cultivated deliberately.

Following the breakup of that relationship in 1981, she continued her career as a singer and actress, appearing on stage and releasing albums such as Baby Alone in Babylone in 1983, and Amour des Feintes in 1990, both with words and music by Mr. Gainsbourg.

She wrote her own album Arabesque in 2002, and in 2009 released a collection of live recordings, Jane at the Palace.

“It’s unimaginable to live in a world without you,” said French singer Etienne Daho, who produced and composed Ms. Birkin’s last album in 2020.

It was on the set of the film Slogan in 1969 that Ms. Birkin first met Mr. Gainsbourg, who was recovering from a break-up with Brigitte Bardot, and the two quickly began a love affair that captivated the nation.

That same year they released “Je T’Aime… Moi Non Plus” (“I Love You… Me Neither”), a song about physical love originally written for Ms. Bardot in which Mr. Gainsbourg’s explicit lyrics are punctuated with breathy moans and cries from Ms. Birkin.

The song was banned by the BBC and condemned by the Vatican.

Mr. Gainsbourg’s drinking eventually got the better of the relationship, and Ms. Birkin left him in 1981 to live with film director Jacques Doillon. However she remained close to the troubled singer until his death in March 1991.

It was around this time that she inspired the famous Birkin bag by French luxury house Hermes, after chief executive Jean-Louis Dumas saw her struggling with her straw bag on a flight to London, spilling the contents over the floor.

She is survived by two daughters the singer and actress Charlotte, born in 1971, and Lou Doillon, also an actress, born in 1982. She also had a daughter, Kate, who was born in 1967 and died in 2013. — Reuters

FLI’s industrial park in Clark takes first locator StBattalion

THE Filinvest Innovation Park New Clark City Ready-Built Factory Complex (Gate and Guardhouse seen here) is set to open its doors to its first locator, Australia’s StBattalion, a manufacturer of electric vehicle batteries.

FILINVEST Land, Inc. (FLI) on Monday signed a lease agreement with an Australian electric vehicle battery manufacturer as the first locator in its industrial park in Tarlac.

“Filinvest Innovation Park-New Clark City warmly welcomes StBattalion as its very first locator. Their presence underscores the park’s vision as a leading sustainable business hub,” FLI President and Chief Executive Office Tristaneil D. Las Marias said.

“We are committed to building large-scale, integrated projects to become the stage for diverse developments, including businesses that will catalyze progress and employment for the local community,” Mr. Las Marias added.

StBattalion signed a five-year renewable lease with FLI subsidiary FCGC Corp. for two ready-built factory units at its New Clark City development.

FLI said each of the two units covers about 2,500 square meters in gross leasable area. The units will be located at the property developer’s 120-hectare industrial park.

The industrial park is inside the 9,450-hectare New Clark City, the greenfield development inside the Clark Special Economic Zone in Capas, Tarlac. It is registered with the Philippine Economic Zone Authority, thus locators enjoy tax perks, simplified import-export procedures, and visa facilitation assistance for foreign employees.

The industrial park’s ready-built factory compound will feature 10 prime model units to be built on a 40,000-square-meter lot.

“Each unit is designed for logistics, e-commerce, and light manufacturing locators,” the company said.

FLI said each unit will also have amenities such as unparalleled accessibility, a build-to-suit option for industrial facilities customization, high-tech communications, and expansive infrastructure such as an eight-meter ceiling clearance, a two-bay loading dock, and three tons-per-square-meter floor load capacity.

The location is only 30 minutes away from Clark International Airport, and 45 minutes away from Subic Bay International Seaport, “making it a key progress catalyst north of Metro Manila,” it said.

Also on Monday, the company said that it had signed a share purchase agreement with Rizal Commercial Banking Corp. to acquire two Cavite-based real estate firms.

In a regulatory filing, the company said it bought Cajel Realty Corp. and Niyog Property Holdings, Inc. from the bank for about P632.66 million.

FLI said it acquired 1.39 million common shares of Niyog at P391.42 apiece totaling about P544.44 million.

Additionally, it purchased 597,376 common shares of Cajel at P148.68 apiece totaling P88.82 million.

The company said both companies have a joint agreement with FLI, which undertook the development of parcels of land into an exclusive residential subdivision.

FLI will pay 30% of the purchase price upon closing and the balance net of retention will be payable in five years plus an agreed interest rate.

On Monday, FLI closed unchanged at P0.67 per share. — Adrian H. Halili

Fukushima drama has a spark

TV REVIEW
The Days
Netflix

OVER a month ago, Netflix dropped a disaster drama that largely went undiscussed despite its similarities with the acclaimed HBO miniseries Chernobyl. As a true-to-life dramatization of a nuclear accident, The Days is phenomenal.

It’s based on the book On the Brink: The Inside Story of Fukushima Daiichi, which chronicles the events that followed the Great Eastern Japan Earthquake of 2011 from the perspective of the nuclear plant workers and their families.

The earthquake, which occurred on March 11, 2011, disrupted electrical supply to the nuclear plant. A subsequent tsunami then flooded the site and rendered its generators useless. Without power, it became near-impossible to cool the nuclear reactors, resulting in one of the world’s worst nuclear crises.

This is where this reporter’s motivation to watch the miniseries comes in: 12 years after the disaster, the Fukushima Daiichi Nuclear Power Plant is still making headlines. (Related story: https://www.bworldonline.com/world/2023/07/04/532167/how-japan-plans-to-release-fukushima-water-into-the-ocean/)

Tokyo Electric Power Company, the plant’s operator, will be dumping 1.3 million tons of treated nuclear wastewater into the Pacific Ocean as part of ongoing cleanup efforts. As of 2023, the plant has been losing space to store the contaminated water that was used to cool the reactors in the incident.

By filtering the water to remove radionuclides, both the Japanese government and the regulators have assured that it will be harmless to marine life. Since it contains tritium, an isotope proven difficult to eliminate, it will be diluted in seawater a hundred times until it is safe enough to release.

The International Atomic Energy Agency (IAEA) has said the plan meets international standards and is not harmful to the environment, but fisherfolk and activists from various countries in the Pacific, including the Philippines, are up in arms. (Related podcast episode here: https://open.spotify.com/episode/25rEe4kEkDUaxOzPRJpToz])

A valid criticism of stories on nuclear power is the tendency to depict it as nothing but doom and gloom. The Days shows both its horrors and its fascinating technologies. It allows us to appreciate how we’ve put systems in place to harness nuclear energy, and marvel at how fast things can break down.

One would think that a show on the worst nuclear disaster since Chernobyl would be hard to put down and talked about for a while, but The Days’ downfall was its extreme attention to every detail. All bits of information had moments in the series, from the exact reading of kilopascals of pressure to the repetitive subplots of government figures talking in circles.

At first, watching hardworking employees don hazmat suits and shine flashlights within the dark facility, with possible risk to their lives, was thrilling — but not after the third or fourth time. Faster pacing would have cut things down to four or five episodes instead of the dragging, eight-episode miniseries it eventually became.

However, it provided great emotional insight into the devastating events that effectively shut down the Fukushima nuclear power plant for good, highlighting the courage and resourcefulness that the crew on-site had to use to keep the situation under control (until, of course, it could no longer be controlled). The excellent buildup of tension, authentic performances, and immersive visual effects kept me interested.

Koji Yakusho, who plays the power plant’s station manager Masao Yoshida, gives an impressive performance. The length of the series provided ample ground for him to display his acting prowess, transforming from a jolly, well-loved boss to a harsh yet practical leader in a life-or-death situation.

The displeased and always impatient Japanese prime minister Azuma Koshiishi is also played effectively by Fumiyo Kohinata, who channels an impulsive energy in the role as he yells at the bumbling, unprofessional people that surround him.

Often at odds with the Tokyo Electric Power Company (TEPCO), which struggles to get Japan’s power grid together after the disaster, the government side of boardroom meetings and urgent phone calls show the Japanese in a light that outsiders don’t often see — uncertain, incompetent, lacking coordination.

It makes for compelling television, at least for the first few frantic conversations that shift from government to power company to power plant, after which the redundancy of following every minor change in events as per real accounts causes the whole piece to suffer.

But even though the filmmakers’ commitment to factual storytelling was unwavering to a fault, its bookend first and final episodes stood out for sheer thematic impact.

The first episode is exactly what you’d expect from a horrific disaster epic: scenes of unimaginable destruction as the earthquake and tsunami hit the plant. It may even be the outlier in the entire series, shot like a traumatizing man versus nature horror film rather than an informative drama.

The last episode features a haunting epilogue based on station manager Mr. Yoshida’s actual testimony, combining the actor’s voice as a narrator with images and videos contextualizing Japan’s history with nuclear power and beautiful yet sad scenes of the tragedy’s aftermath.

Most importantly, it gives a full update about how the facility is still being actively dealt with to this day, as Japan struggles to safely dismantle all nuclear-affected bits and pieces.
Perhaps the same issues of toxic waste disposal, risks of meltdown, and differing views on the cost-benefit analysis of nuclear power will ebb and flow, time and again, as countries and governments waffle between what is necessary for our populations’ growing needs and what should cause alarm bells to ring.

The Days eventually comes to a conclusion, as did Mr. Yoshida’s life due to cancer, two years after he helped pull the plant out of its initial crisis. Like how the show often devolved into an endless array of detailed plot points and conflicts, the plant itself will take decades more to be fully dismantled. Meanwhile, the discussions that plague the topic of nuclear energy have yet to reach a conclusion. — Brontë H. Lacsamana

Buskowitz Energy to build Unilab unit’s  rooftop solar system

PXHERE.COM

BUSKOWITZ ENERGY is set to energize Amherst Laboratories, Inc., allowing Unilab, Inc.’s manufacturing subsidiary to power its operation with renewable energy via a 496-kilowatt-peak rooftop solar photovoltaic system.

In a media release on Monday, Buskowitz Energy said it would install 900 tier-one solar panels after having been commissioned by Amherst Laboratories to help its transition to renewables.

“It is our mission to continuously offer sustainable solutions to our clients in an effort to accelerate the Philippines’ shift from fossil fuels towards renewable energy,” said James Buskowitz, chief executive officer of Buskowitz Energy, adding that his company is “excited” to kickstart its partnership with Amherst Laboratories.

The solar energy company said the installation was designed to produce an average output of 700,000 kilowatt-hours of energy per year, allowing Amherst Laboratories to save up to P150 million.

“This is equivalent to sequestering carbon generated by consuming 5 million liters of gasoline; preventing 12 million pounds of coal from being burned; or electrifying 2,000 homes for one year,” it added.

Buskowitz Energy is a sustainable solutions company that aims to grow the country’s solar energy sector. To date, it has a total of 300 solar rooftop projects across the Philippines.

“The use of renewable energy such as solar panels, not only gives us savings in our operations but also provides an opportunity to contribute to the overall effort of reducing greenhouse gas emission. We are stepping forward to help promote the use of renewable energy and help reduce our carbon footprint,” Limuel Razo, corporate vice-president and head of manufacturing of Unilab.

Buskowitz Energy has 40-megawatt-peak of projects in the pipeline this year. It has so far installed solar photovoltaic systems and provided renewable energy for international brands such as Coca-Cola and Shell, along with local companies Petron Corp., NLEX Corp., Megaworld Corp., as well as SM and Robinsons malls. — Ashley Erika O. Jose

P-Pop convention returns for 2nd year

FOLLOWING a successful launch last year, the 2023 Pinoy Pop Convention Manila (PPOPCON) once again brought multiple P-pop acts to the stage.

Artists SB19, MNL48, BINI, Calista, Alamat, PPop Generation, G22, VXON, Yes My Love, Hori7on, Dione, Press Hit Play, VER5US, KAIA, 1st.One, and MONA came together on July 16, performing at the Smart Araneta Coliseum in Quezon City.

The 2023 PPOPCON was a three-day event that featured both established and promising P-Pop acts, allowing them to celebrate Filipino pop culture and engage with fans.

“We’re beyond grateful to all the fandoms, especially our Bloom, for the overwhelming love and support as we celebrated the mesmerizing world of P-Pop together!” said eight-member girl group BINI after their concert. “Bloom” is the fandom name of BINI.

“Let’s continue to inspire and uplift one another as we shape the future of Filipino talent and artistry,” they said on their social media account.

The convention also included interactive fan engagement activities on July 14 and 16, ranging from fan booth exhibitions to fan signing events at the Quantum Skyview at the newly opened Gateway Mall 2.

Alamat, one of the groups who joined the fan signing activity, showed off their outfits showcasing both traditional and contemporary elements. Other participants were Josh Cullen (of SB19), 1st.One, Kaia, and G22. Meanwhile, a few artists performed for free at the convention, including Mona and Valfer, P-Pop soloists who also hosted the concert pre-show.

“Thank you so much to everyone who supported me today, especially to my mooncakes,” said Mona after the concert. “Mooncakes” is the singer’s name for her fans.

Dione, R Rules, Daydream, Times New Roman, Ver5us, Yara, Yes My Love, Z2Z, SMS, Blvck Flowers, Eclipse, 6Sense, and Skouts also performed at the convention.

Teasing the next iteration of the P-Pop convention and concert, boy group SB19 called out to attendees to come back again next year.

Kitakits sa susunod na PPOPCON (See you at the next PPOPCON)!” they said. — Brontë H. Lacsamana

Alveo unveils Park East Place, its most premium dev’t in BGC

ALVEO LAND CORP. recently launched Park East Place in Bonifacio Global City, Taguig. In photo (from left) Alveo Chief Operating Officer Rufino Gutierrez, General Manager for North Operations Anton Sanchez III and President Mike Z. Jugo.

ALVEO Land Corp. unveiled its most premium residential development yet, Park East Place, in Bonifacio Global City (BGC), Taguig.

Park East Place is a single tower development offering 523 units with a total value of P20 billion.

Located at the corner of 32nd Street and 9th Avenue, the condominium is strategically located at the center of BGC — near office buildings such as The Curve BGC and The Global Tower and retail and commercial areas like Bonifacio High Street, Uptown Mall, Mitsukoshi and Market! Market!

“It’s a one-of-a-kind location so we wanted to offer a really refined residential setting. We are offering the most premium Alveo project to date and this will ensure the long-term investment value for its buyers. This is prime central living on BGC’s main avenue,” Anton Sanchez III, Alveo general manager for North operations, said during a July 11 press briefing in Makati City.

Alveo is making sure Park East Place lives up to its premium tag. The facade will have a nine-meter glass crown, which is a design collaboration between local architecture firm Aidea and foreign consultant Smith Group.

The tower will also feature an impressive podium design with angled fins and decorative perforated aluminum cladding, stone arcade columns, and a high glass ratio.

Park East Place will have 59 floors, of which 53 are for residential units. It will have a maximum of 10 units per floor. It offers one-bedroom (approximately 61 square meters), one-bedroom suite (approximately 67 sq.m.), two-bedroom (approximately 94-98 sq.m.), and three-bedroom (approximately 131 sq.m.) units. All units will have balconies.

“Park East Place only has one to three-bedroom units. We didn’t want to offer studio units here to improve the density of the development,” Mr. Sanchez said.

All units will have a range hood, a multi-point water heater, Kohler toilet fixtures, as well as split-type air conditioning for all main rooms (living room and bedrooms).

“We’re going to deliver premium materials, a notch higher than our standard Alveo deliverables, as well as branded finishes. We partnered with Kohler to provide a premium experience for toilet and bath… Units as delivered will be ready for move in,” Mr. Sanchez said.

Park East Place will have a 2,600 sq.m. amenity deck which will feature a pool, gym, function room, boardroom, and play area.

The tower will have eight floors dedicated to parking spaces. This will also be Alveo’s first project that will feature an electric vehicle (EV) parking system, allotting 5% of the parking spaces for EVs.

The average price for Park East Place is around P430,000 per sq.m., bringing the price range of units between P24 million to P66 million (including value-added tax).

Just two weeks after the launch, Park East Place has already recorded P6 billion in sales. Alveo officials said 28% of the tower’s total inventory has already been sold.

“The success of Park East Place’s project launch reaffirms Alveo’s presence in BGC. The extremely strong reception is a clear affirmation of Park East Place’s unique project concept, strategic location, and trust in the Alveo brand,” Alveo Land President Mike Z. Jugo said.

Units are scheduled to be turned over to buyers in 2030.

Park East Place is a project by Fort Bonifacio Development Corp., with Alveo serving as the development, sales, and marketing manager.

This is Alveo’s 20th project in 20 years in BGC or since parent Ayala Land, Inc. partnered with the Bases Conversion and Development Authority to develop Serendra in 2003.

“Alveo has consistently been the top residential developer in BGC, helping shape the city into what it is today,” Mr. Sanchez said. — Cathy Rose A. Garcia