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NEDA Board OK’s institutionalization of social protection measures

President Ferdinand R. Marcos, Jr. presides over the 5th National Economic and Development Authority Board meeting in Malacañan Palace, April 20, 2023. — PHILIPPINE STAR/KRIZ ROSALES

THE NATIONAL Economic and Development Authority (NEDA) Board, chaired by President Ferdinand R. Marcos, Jr., approved the institutionalization of existing programs aimed at alleviating poverty in the country.

NEDA Secretary Arsenio M. Balisacan said on Thursday the NEDA Board had given the go signal for the social protection floor, which was endorsed by the Cabinet’s social development committee.

“Social protection floor refers to nationally defined sets of basic social security guarantees that aim to prevent or alleviate poverty, vulnerability, and social exclusion,” he said at a virtual briefing on People’s Television Network (PTV).

“These guarantees provide protection to individuals and families in times of need. The guarantees should ensure that, at a minimum, everyone in need has access to essential healthcare and basic social protection,” he added.

The floor will provide basic guarantees that cover the entire life cycle — health, including maternity care; children; active age; and older persons.

Mr. Balisacan said the protection floor institutionalizes existing programs that have been “proven to work.”

“We don’t have to restart all over again when there is a need to provide support to vulnerable groups. We are a country that are exposed to a lot of risks, (such as) climate change, and we want to make sure that when these vulnerable members of society are exposed to these risks, they do not fall to poverty because of those exposures so we can sustain the progress we are making in poverty reduction,” he said.

Among the recommendations are the full implementation of universal healthcare and feeding programs, and improvements to the Pantawid Pamilyang Pilipino Program (4Ps).

The government is feeding 570,000 children for 120 days a year, according to the NEDA.

“Under the social protection floor, we aim to increase the number of feeding days to 209 in the medium term and to 365 days at the end of this administration’s term,” Mr. Balisacan said.

The government will also undertake efforts to address teenage pregnancy and support children in need of special protection.

Mr. Balisacan said the government would support Filipinos “who are unable to earn sufficient income, including those who are part of the informal economy.”

This includes unemployment insurance, social insurance coverage for temporary workers, worker compensation benefits, and provisions for emergency employment.

The government will ensure that senior citizens will receive discounts and can avail themselves of learning opportunities and get health services.

“Additionally, under social pension, our goal is to fully implement Section 5 of the Expanded Senior Citizens Act, which provides pension coverage to all indigent senior citizens,” Mr. Balisacan said.

Latest data from the statistics authority showed that the poverty incidence rate rose to 18.1% in 2021 from 16.7% in 2018.

Under the Philippine Development Plan, the government aims to bring down the poverty incidence to 16-16.4% this year and to 12.9-13.2% in 2025, 10-10.3% in 2027, and 8.8-9% in 2028.

ON TRACK
Meanwhile, Mr. Balisacan said the government is on track to hit its 6-7% growth target this year.

“Remember, the International Monetary Fund (IMF) in its recent World Economic Outlook upgraded its outlook for the Philippines from 5% to 6%. That’s a one-percentage-point increase, one of the very few countries with that kind of upgrade. We are quite optimistic despite these headwinds,” the NEDA secretary said.

Last year, the economy expanded by 7.6%, surpassing the government’s 6.5-7.5% target.

However, Mr. Balisacan warned of the negative impact of the looming El Niño weather phenomenon.

“In the past experiences of El Niño, that will come with lower production particularly for basic agricultural produce. What we want to ensure is that we mitigate the negative effects of El Niño. We can start planning and putting the necessary adjustments to reduce the negative effects while at the same time making arrangements for necessary support for those most exposed, particularly the vulnerable groups.”

The Philippine Atmospheric, Geophysical & Astronomical Services Administration (PAGASA) earlier this week said the likelihood of an El Niño event has risen to 80% in June, July, August and September, and 87% in November, December and January.

Pagasa said El Niño increases the likelihood of below-normal rainfall conditions in some parts of the country.

Past El Niño events have even triggered drought conditions in the Philippines and other parts of Asia. — L.M.J.C.Jocson

Twilight is also coming to TV as Harry Potter gets rebooted

KRISTEN STEWART and Robert Pattinson in a scene from the 2008 blockbuster film Twilight

TWILIGHT, the vampire-romance series that spawned five blockbuster movies and captured the hearts of brooding teenagers worldwide, is coming to TV.

Lions Gate Entertainment Corp. is developing the series — based on the young-adult books by Stephenie Meyer — for television, according to a person familiar with the matter. But plans are in the very early stages and haven’t been finalized, said the person, asking not to be identified because the information isn’t public.

The Hollywood Reporter first reported on the plans. Shares of Lions Gate jumped more than 6% to $11.49 in New York on Wednesday.

News of a potential Twilight series follows plans by Warner Bros. Discovery, Inc. to create a TV show based on J.K. Rowling’s Harry Potter saga, which was previously made into eight movies. It underscores the pressure studios are facing to squeeze as much revenue as possible from intellectual-property rights they own, especially if they’ve already generated billions of dollars from the franchises.

The five Twilight movies — the first of which was released in 2008 — grossed $3.3 billion worldwide, earned stars Robert Pattinson and Kristen Stewart a legion of die-hard fans and turned the series into a cultural touchstone for a generation of young moviegoers.

As for Lions Gate, it has struggled to find a buyer and has lost more than 30% of its market value since the start of 2022, even though it boasts a library of almost 20,000 titles, including The Hunger Games. It recently got a reprieve with the success of John Wick: Chapter 4, the latest installment in action-movie series starring Keanu Reeves. —Bloomberg

Can death on the screen feel the same as a real one?

MATTHEW MACFADYEN in the Succession episode “Connor’s Wedding”

DEATH is a part of life, an adage usually reserved for those who physically exist in our lives — family, friends, colleagues, acquaintances. So what happens when a profound death experience happens on the screen? Is that still a legitimate experience of mourning?

Last week, the popular TV show Succession had a significant “on screen” death — where even the cast filming the scene spoke as if the response to the trauma had a very real feeling.

In the same way as the cast, social media reactions to the sudden and unexpected death of a person with a complex character, after four seasons of growing to understand them, can feel like the death of someone you actually know.

The research behind this phenomenon can be found as far back as the 1970s when early understandings around the death of a main character on children’s television served to provide real world insight into the irreversibility of death as a universal experience.

Over time, as popular culture and television became more nuanced, the diversity of the ways in which death occurred in fictional programs began to replicate the complexity of “real” loss in our lives. Via television, we get access to catastrophic loss, multiple casualty events, loss after significant illness — as well as seeing how death impacts the people left behind.

In that episode of Succession, we also see what happens when a death occurs involving a person where their character or relationship to others is strained. We see ways in which grief is not always a byproduct of love.

Death on screen can also act as a trigger or a reminder of the losses we have endured.

When a show realistically portrays grief in its purest form, the emotive or reflective reaction can unlock our own grief. Engaging with the small screen is an overt act of escapism, often for entertainment. We might be switching on a program with the intention of relaxation, only to be met with trauma and sadness.

When a sudden loss is brought into our lounge rooms, or via the devices on our laps, we experience shock, confusion, and anger about the abruptness of an event, just like the feelings we can experience when loss happens suddenly in our real lives.

Safe reporting of sudden and traumatic death on fictional TV shows is not covered by media reporting guidelines. Warnings prior to a scene, or consistent information at the end of an episode about seeking additional support, might be minimal.

Recent research identifies multiple contexts related to warnings where TV shows may note that an episode will explore death, however, the complexity of how this might be portrayed is limited.

While there is no rulebook for grief, reacting emotionally to a small screen death can bring about concerns that we look silly or that we lack awareness of the distinction between reality and fiction. This form of parasocial grieving, described as having feelings attached to a pseudo-relationship, does feel real, does have consequences and does need space to be managed.

We don’t all watch the same shows, we don’t all respond to the death of a character the same way, we might even struggle to understand why people have the reactions they do when a TV death occurs. I would encourage you to pause for a moment and remember the ones that did get under our skin.

In 1985, Australian viewers lived through the death of Molly from A Country Practice, where the final image of a mother’s end-stage cancer diagnosis played out while watching her daughter fly a kite.

Teens watching Sarah Michelle Gellar stumble across the sudden untimely death of her mother in Buffy the Vampire Slayer shaped many feelings when there is a catastrophic loss without warning.

In the last decade, the sudden death of Patrick from Offspring had people legitimately calling in sick from work the next day.

The global reaction to the Red Wedding scene in Game of Thrones had forums on Reddit unpacking why so many characters were murdered and sharing the impact of the sights and sounds of blood and murder and traumatic grief.

We engage in a social contract when we connect to a TV show. We expect to be removed from our real life and engage in the viewing of other spaces. Death in those spaces – and the reactions to that loss – can feel as if they break that contract. —  The Conversation via Reuters Connect

Sarah Wayland is an Associate Professor at the University of New England.

Razon moves north Solaire’s opening to 1st quarter 2024

BW FILE PHOTO

RAZON-led Bloomberry Resorts Corp. said it is targeting to open Solaire Resort North within the first quarter of 2024 after the pandemic and supply chain disruptions delayed the project.

“The project was delayed during the pandemic and the lockdowns for obvious reasons and further delays have been experienced due to disruptions in the supply chain and components that come from abroad that are needed to finish the property,” Bloomberry President and Chairman Enrique K. Razon, Jr. said during the company’s annual stockholders’ meeting on Thursday.

“But we are working our way through this more and more, we are gaining traction and progressing in the construction. And very soon, we will be able to determine a hard date for opening but we still expect as of today for that opening to be within the first quarter of 2024,” he added.

Solaire Resort North will rise on a 15,676-square-meter lot in Vertis North, Quezon City. The project started excavation work in 2019 but construction work was halted by pandemic restrictions.

Meanwhile, Mr. Razon expects Bloomberry’s gaming to drive this year’s top line amid the segment’s expected growth.

“The mass gaming segment is primed to set new highs in 2023 and will continue to contribute the lion’s share of our revenues. We anticipate that this segment will grow steadily on the back of sustained expansion of the local economy, which is forecasted to grow between 6% and 7% this,” he said, pertaining to the government’s target gross domestic product growth for the year.

In 2022, the company recorded an attributable net income of P5.17 billion, a reversal of the past two years’ losses, after gaming revenues increased by 72% to P32.21 billion from P18.73 billion previously.

The growth in the segment drove Bloomberry’s top line, which increased 76.5% to P38.81 billion in 2022, from P21.97 billion in 2021.

Mr. Razon said the casino-resort operator is seeing an increase in the number of travelers from Asian countries particularly South Korea and China as restrictions ease.

“Steadily, we are seeing increases in inflows from both countries and other countries as well. We expect and hope that this trend continues through the year,” he said.

Meanwhile, Mr. Razon foresees inflation and Russia’s war on Ukraine to continue affecting the operational cost of International Container Terminal Services, Inc. (ICTSI), which he also chairs.

“We have inflationary headwinds throughout the globe right now and we expect that to continue and there’s really no telling when this inflationary environment will end,” Mr. Razon said during the port operator’s annual stockholders’ meeting on Thursday.

He said the war in Ukraine “is causing global instability and energy prices to go up and we also cannot say when this war will conclude and how long it will last.”

Amid inflationary pressures cited, the company will keep a close watch on its costs and the management of its ports, Mr. Razon said.

“However, the company’s business remains strong and we continue to be very prudent in our actions and watch very closely our costs and how we are managing each and every terminal,” he said.

“I believe that these problems will continue for the foreseeable future but the company will overcome them eventually,” he added.

In 2022, ICTSI posted a 43% jump in its attributable net income to $618.46 million after booking higher operating income.

In 2022, the port operator’s revenues from operations increased by 19.8% to $2.24 billion from $1.87 billion in 2021. It saw a 9% increase in the consolidated volume it handled to 12.22 million twenty-foot equivalent units (TEUs) from 11.16 million TEUs a year earlier.

On Thursday, shares in Bloomberry slipped by four centavos or 0.44% to P9.06 each, while ICTSI shares went up by P3.60 or 1.71% to P213.60 apiece. — Justine Irish D. Tabile

Stuff to do (04/21/23)

Peninsula holds its biggest wedding fair

The Peninsula Manila mounts its biggest wedding fair yet, “Weddings at The Peninsula… and More 2023,” on April 22 and 23, from 10 a.m. to 7 p.m., in cooperation with Christine Ong-Te Events (COTE) and Manila Fashion Festival (MFF). The fair gives attendees the chance to peruse and choose from a range of wedding and celebratory essentials, each one chosen for their signature style and savoir faire — from bridal finery to tabletop decorations, cakes and bouquets to honeymoon and holiday destinations, photographers, events hosts, and many more. Many exhibitors will offer giveaways, but the best prizes will be that of The Peninsula Manila’s “Couple Goals Hunt” where lucky guests will have the chance to win a three-day/two-night stay for two with breakfast at The Peninsula Hong Kong, The Peninsula Tokyo, and The Peninsula Bangkok, along with other prizes. On April 22, there will be a series of fashion shows, The Peninsula Bridal Collection, featuring bridal wear by Filipino designers like Joey Samson, Hannah Kong, Mak Tumang, Banggo Niu, Jo Rubio, Jojie Lloren, Ivarluski Aseron, Steph Tan, JC Buendia, the students of F.A.B. Creatives, and the designers of the Fashion & Design Council of the Philippines (FDCP). In cooperation with Manila Fashion Festival, The Peninsula Bridal Collection will be shown at The Lobby, starting at 3 p.m. with the collection of Steph Tan; 4 p.m. with F.A.B. Creatives students and mentors Ivarluski Aseron, JC Buendia, Joey Samson, and Jojie Lloren; 5 p.m. with Banggo Niu; 6 p.m. with Hannah Kong, Jo Rubio, and Mak Tumang; and 7 p.m. with the FDCP. The fair also gives a chance to future brides and grooms to check out the hotel’s venues, like the Rigodon Ballroom or The Conservatory. Also, the hotel’s events managers on hand to answer any questions. A lot of the vendors at “Weddings at The Peninsula… and More 2023” will offer special deals or discounts. Book on the same day and save even more. For inquiries regarding the wedding fair, call 887-2888, extension 6579 and 6573 (Wedding Sales), e-mail jonnayeh@peninsula.com or marizsison@peninsula.com, or visit peninsula.com.

CCP marks Earth Day with art installations, film screening

IN celebration of Earth Day on April 22, the Cultural Center of the Philippines (CCP) will unveil a series of public art installations in collaboration with several visual artists to be held at various locations in the CCP Complex starting April 20. The conceptual installations will showcase a diverse array of natural, indigenous, and found objects and materials transformed into public art, with the aim of promoting public consciousness about environmental issues. For this year, one solo and one group of visual artists will exhibit their artworks: Tanod-Lupa (Nature Guardians) by Abdulmari “Toym” De Leon-Imao, and Surogpon Kita by Bicol-based non-profit Kintab Artists Group, Inc. Surogpon Kita can be viewed until May 28. The CCP Film, Broadcast, and New Media will also showcase a selection of films that pay tribute to the lives of patriotic Filipino environmentalists and earth warriors with the installation of CCP Cinema Under the Stars and CCP Arthouse Cinema. Catch these Gawad Alternatibo films for free: Himig Himbing, Balitok by She Andes, and Walang Hanggang Buhay ni Leonardo Co by Nannette Matilac on April 20, 3 p.m. at the CCP Liwasang Kalikasan. At 8 p.m., watch Ani, a Cinemalaya film by Kim Zuñiga and Sandro Del Rosario. From April 20 to 30, the CCP main building will also light up with earth colors which the public may view from 6:30 to 9 p.m.

Dia del Libro at Intramuros

THE INTRAMUROS Branch of Instituto Cervantes de Manila will host a celebration of World Book Day, or Día del Libro, on April 22, from 10 a.m. to 6 p.m. Día del Libro will feature Manila top bookstores and publishing houses that will be selling a wide array of books at a 20% discount. Following the tradition in Spain, every book purchase would entitle one to a free rose. And for this year’s celebration, Instituto Cervantes will be giving out hundreds of books for free. Apart from the book market, visitors to Día del Libro will be treated to poetry recitals, free Spanish classes, book presentations, street art, games, exhibits, storytelling sessions, Spanish food, as well as fun activities for the children. Among the writers who will be signing copies during the event are Jessica Zafra, Charlson Ong, Wilfredo Liangco, Katrina Martin, Kannika Claudine D. Peña, and Vince Groyon. Book lovers will also have the chance to attend book presentations organized by some publishers. The program schedule can be found at https://www.facebook.com/events/1224034514883637. Instituto Cervantes is challenging visitors to join a Quixotic attempt: to handwrite Don Quixote de La Mancha. The final hand-written book will be deposited in the Library of Instituto Cervantes. People interested in taking part in the writing of Don Quijote can join on the same day with no prior registration. Participants in the handwriting chain will receive a rose. Instituto Cervantes is also inviting poetry lovers to recite verses written in Spanish by Filipino poets in the 2nd Recital of Filhispanic Poetry. All the recorded recitations will be compiled in a video that will be posted on the Instituto Cervantes Youtube channel at https://www.youtube.com/@InstitutoCervantesManila at the end of April. Interested poetry aficionados can register at https://forms.office.com/e/EZwcmKDsTN. As one of the perks of Día del Libro, Instituto Cervantes will offer a 10% discount and special gifts for those enrolling for Spanish classes on April 22. And to cap it off, Instituto Cervantes will close Día del Libro 2023 with a live concert featuring Filipino rock band Talahib People’s Music at 5:30 p.m. Admission to all Día del Libro activities is free on a first-come, first-served basis. For more information, visit the website www.facebook.com/InstitutoCervantesManila.

MCAD marks Earth Day with graphic design workshop

IN COMMEMORATION of Earth Day on April 22, the Museum of Contemporary Art and Design (MCAD) of the De La Salle-College of Saint Benilde will host a free graphic design and lettering workshop on climate change for children ages 12 to 16. Entitled “A, B, C’s of Climate Change,” the hybrid event explores how visual communication increases the awareness and understanding by the youth on messages that pertain to current environmental issues. It will educate the participants on how to plan and project their ideas and experiences into visual and textual contents. The workshop will be facilitated by Filipino contemporary artist and painter Tia Avila. The workshop is free. It will be held on April 22, at 2 p.m. Interested participants may register through https://forms.gle/oif8Uzvnm76hKZGWA. For more information, e-mail mcad@benilde.edu.ph or call 8230-5100 local 3897.

Encantada at the Met

Alice Reyes Dance Philippines will perform Encantada, the neo-ethnic ballet of National Artist for Dance Agnes D. Locsin, at the Manila Metropolitan Theater along Taft Ave., Manila, on April 21 and 22, 7:30 p.m., and April 22, 2 p.m. The landmark piece introduced audiences to Ms. Locsin’s neo-ethnic choreography — a fusion of ethnic dance, modern dance, and classical ballet — and later helped cement her legacy as a dance pioneer. It features music by Joey Ayala and a libretto by Al Santos. This year’s restaging, overseen by Ms. Locsin, 65, stays as faithful to the original as possible. The iconic Encantada mountain by National Artist for Theater and Design Salvador “Badong” F. Bernal will rise in the Manila Metropolitan Theater.

CASA San Miguel’s faculty recital

CASA San Miguel will hold the CUERDAS Faculty Concert featuring Renee Vie Soterio on April 23 at 3 p.m. At the young age of 12, Ms. Soterio began to learn the violin as a scholar of the CASA San Miguel music program and later became a student of Alfonso “Coke” Bolipata. Soon after that, she was made a member of the Pundaquit Virtuosi, now an active teacher of the Cuerdas School, mentoring some of the current members of the Pundaquit Virtuosi. Tickets are P200. For details call 0907-082-6692 or 0917-838-2752.

BGC holds Pet Huddle

THE 4TH Pet Huddle, which was originally scheduled for April 15 and 16 at Fifth Avenue at Bonifacio High Street, will now be held on April 22-23. The event, which started in 2021, is held in partnership with pet apparel line Hey Pacey. Fifty merchants are participating this year, and among the activities for pets are a Pet Parade, a Pet Blessing, and a Pawject Runway. For more information follow BGC’s Facebook facebook.com/bonifacioglobalcityph/ and Instagram @bonifacioglobalcity.

Summer of fitness and fun activities at Ortigas Land

Ortigas Land offers locations where visitors (and their pets) can enjoy a diverse range of fun, recreational activities this summer. Ortigas Land’s many outdoor areas located at Ortigas East and Capitol Commons in Pasig City, and Circulo Verde in Quezon City all have safe jogging paths, as well as open spaces where one can stretch and do yoga, arnis, boxing and sparring. There are also bike lanes, plus benches and picnic spots. Circulo Verde (CV) in Quezon City has a couple of places that can be reserved for practice and official games. The CV Quad is a convertible court suited for basketball and volleyball enthusiasts. Interested players can reserve the court via CV Quad’s Facebook page for P1,200 per hour for Day Time (7 a.m. to 5 p.m.) and P1,500 per hour for Night Time (5-10 p.m.). Add a scoreboard and shot clock for P200 per hour. For football there is the Palms Arena field. From Monday to Thursday, it can be reserved for the Normal Hour rate of P3,000 (6 a.m. to 6 p.m.) and Peak Hour rate of P3,500 (6 p.m. to midnight). From Friday to Sunday, the Normal Hour rate is at P3,500 and Peak Hour is at P4,000. CV Quad and Palms Arena are located at Circulo Verde, Bagumbayan, Quezon City. Ortigas Land also has pet-friendly spots. Take your dogs for a walk or jog at the Capitol Commons Park at Capitol Commons, Camino Verde Rd., Pasig City. The open park is spacious enough to let dogs run and play. Over at Hachi Park in Circulo Verde, pet owners can let their dogs run around off leash and play with other dogs. The 365-square-meter enclosed space has convenient trash bins to dispose of a dog’s waste. Grab something to eat at Tiendesitas while walking the dog at The Grounds in Ortigas East, an open-air outdoor space. One can also stock up on supplies at the nearby Pet Village in Tiendesitas. The Grounds is located at Central Drive, Ortigas East, Pasig City. For more information, follow Ortigas Land on Facebook and Instagram. Download the Ortigas Malls app to sign up for the Ortigas Community Card.

PLDT names officials to handle vacated key posts

BW FILE PHOTO

PANGILINAN-led PLDT Inc. has designated officers-in-charge for the departments previously handled by officers who voluntarily vacated their key posts earlier this week.

In a regulatory filing on Thursday, the listed telecommunications company has assigned Danny Y. Yu, senior vice-president and group controller, to be in charge of the finance department after the early retirement of Anabelle L. Chua, who was senior vice-president, chief financial officer and chief risk management head.

PLDT has appointed First Vice-President Bernadette C. Salinas as the acting head of the supply chain management department previously headed by Mary Rose L. Dela Paz, who had voluntarily resigned as senior vice-president and chief procurement officer.

For its network department, PLDT has assigned First Vice-President and Deputy Network Head Roderick S. Santiago to be the officer-in-charge, following the early retirement of Mario G. Tamayo, senior vice-president and network head.

“No replacements have been designated for the roles of Alexander S. Kibanoff, who availed of the Company’s Manpower Reduction Program and who was voluntarily separated from service effective April 16; and Wilson S. Bobier, who was voluntarily separated from service due to his voluntary resignation effective April 16,” the company said.

Meanwhile, credit analyst CreditSights said that the key officials who were announced to depart PLDT could have been the “parties deemed responsible” for the company’s budget overrun.

“On the face of it, we believe these officers could have been the ‘parties deemed responsible’ for PLDT’s capex (capital expenditure) overrun, despite various seemingly benign reasons provided by the company for their departure,” CreditSights said.

“Given the departed officers’ job titles and positions coincide with the company’s earlier statements, and given this was a simultaneous departure by five senior personnel, we are inclined to think these cannot be random, unconnected departures,” it added.

The credit analyst also said that the departure of the five officers could induce short-to-medium-term operational challenges.

“We think day-to-day operations of the company could be hampered, strategic directions could be less clear, and execution risks of ongoing projects could be higher,” CreditSights said.

“Given the seniority of the departed officers and their relatively long tenors with the company, we think it could be more challenging for the company to fill in the gaps,” it said, citing Ms. Dela Paz who has been with the company for over six years and Ms. Chua for over 20 years.

However, CreditSights said the departures could also demonstrate the telco’s commitment to improving its long-term operations and corporate governance.

“We see a possibility that these officers were let go by the company after ‘substantially completed external investigations’ found negligence or bad decision-making on their parts,” it said.

“Even though higher management would have clearly been aware of the immediate operational impacts from the absence of the senior officers, the fact it remained firm in its drastic turnovers could suggest a strong commitment towards ensuring proper accountability and governance,” it added.

In December last year, the telco said that it would undertake a management reorganization process to address weaknesses that allowed the budget overrun to occur.

The statement came after PLDT’s internal probe showed a P48-billion budget overrun in the past four years.

On March 23, the company said that the review conducted by an external counsel for the period 2019-2022 showed “no evidence of fraud, intentional concealment, or bad faith conduct on the part of any employee of the company and no basis to restate the company’s historical financial statements.”

Post-2022, its outstanding commitment to its major vendors for the acquisition of property and equipment was reduced to P33 billion, which the company said resulted from PLDT’s entry into settlement and mutual release agreements in March this year.

“Overall, we maintain our expectation that the capex overrun was due to management missteps and not intentional fraud, but remain watchful of negative headlines risks,” CreditSights said.

On Thursday, shares in PLDT went down by two pesos or 0.16% to P1,269 apiece.

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. — Justine Irish D. Tabile

EntertainmentNews (04/21/23)

A STILL from the play Hamilton —DANIEL BOUD

Hamilton extends PHL run until Nov. 26

DUE to overwhelming demand in the pre-sale, GMG Productions has announced that Hamilton will be extending its season to Nov. 26. The musical’s original closing date was Nov. 12. No further extensions are possible, said GMG. New tickets will be made available to the waitlist and the general public. Those who signed up to the Hamilton Philippines waitlist, a waitlist pre-sale access link will be sent through their registered e-mail address. The Tony, Grammy, Olivier, and Pulitzer Prize winning musical will begin performances at The Theatre at Solaire on Sept. 17. Tickets are available through TicketWorld.

Original Tagalog-dubbed Marimar returns

VIEWERS can binge watch the popular mid-1990s Mexican telenovela Marimar exclusively on-demand on Jungo Pinoy starting April 21. The Mexican soap that started the ’90s telenovela craze and launched Thalia into the consciousness of Filipinos, Marimar, is making a comeback on streaming after 20 years via Jungo Pinoy, the entertainment app specifically created and curated for Filipinos by Los Angeles-based media company Jungo TV. The telenovela follows Marimar as she rises from her less fortunate situation, gets the guy, and gets even, with the help of her sidekick, the talking dog Fulgoso. This is the first time that the original Tagalog-dubbed version will be available on-demand on a streaming platform. Jungo Pinoy is showing the first 10 episodes of the soap for free. The streaming app will also be launching more exclusive Tagalog-dubbed series through its content partnership with Latin America media giant TelevisaUnivision. The Jungo Pinoy app is available on Google Play Store and Apple App Store.

Bayang Barrios marks 35 years in music

ETHNIC music pioneer Bayang Barrios will be celebrating her 35th year in the music business with a solo concert. It will be held at the Cultural Center of the Philippines’ Tanghalang Ignacio B. Gimenez (Black Box Theater) on May 6, at 7:30 p.m. Joining her on stage will be music legends Joey Ayala, Gary Granada, Lolita Carbon, Cooky Chua, and Poppert Bernadas, friends and collaborators over three decades in show business. The anniversary concert, Bayang Barrios: Katutubong DIVA, will be directed by Floy Quintos. Ms. Barrios is best known for the songs “Malayo Man, Malapit din,” “Bagong Umaga,” “Pag Nanalo ang Ginebra,” and Encantadia’s theme song. Ms. Barrios is also a teacher, mother, theater artist, designer, and peace advocate. She has a band named Naliyagan, and is married to another award-winning musician-producer, Mike Villegas. A Manobo from Agusan del Sur, she once downplayed her ethnic origins until she met a songwriter and performer who celebrated native cultures in his music, Joey Ayala. She joined Mr. Ayala’s iconic band Ang Bagong Lumad, which pioneered in giving native themes and music a contemporary beat and vibe. Before she went solo, Ms. Barrios was with Ang Bagong Lumad for nearly 20 years as they traveled the country and the world introducing indigenous music, instruments, and dance to mainstream audiences. Produced by Manila Media, Inc., tickets to Bayang Barrios: Katutubong DIVA are available at TicketWorld.

Warner Music PHL marks 30 years with We Play Here

FELIP, Dilaw, Lola Amour, and more will kick off Warner Music Philippines’ We Play Here on April 27. The event jumpstarts the 30th anniversary celebration of the global music label’s presence in the Philippines. We Play Here is a series of live performances and events. To jumpstart the celebrations, six of the country’s musical acts are coming together for the launch concert. SB19’s Ken — performing under his mononym FELIP — leads the lineup. Also performing are rising Davao-based hip hop group PLAYERTWO, R&B singer and rapper JRLDM, pop band Dilaw, pop rock band Lola Amour, and soul and R&B duo Leanne & Naara. “Our We Play Here series showcases and celebrates everything that is so exciting about where this generation of Filipino artists is at right now,” said Sarah Ismail, Managing Director of Warner Music Philippines, in a statement. “The acts are bigger, better, and more diverse than ever before, and our whole team is so proud of the role that Warner Music Philippines is playing in the global rise of OPM.” We Play Here kicks off on April 27, 6 p.m., at the SM Aura Samsung Hall, Taguig. Pre-sale tickets for the first installment of We Play Here are sold out, but regular tickets are still available at P950. Purchase tickets online via https://weplayhere.helixpay.ph and follow @weplayhere_ for event updates, artist meet and greet activities, and merchandise announcements.

Tickets to The Making of Harry Potter available on Klook

ASIAN travel and experiences platform Klook has tickets available for pre-booking to the Warner Bros. Studio Tour Tokyo — The Making of Harry Potter on its platform. The studio tour is set to open to the public on June 16 for the first time in Tokyo, and will take visitors behind-the-scenes of the Harry Potter and Fantastic Beasts films to learn about the world of film production. Klook users can purchase tickets to the Studio Tour together with a transportation pass (SEIBU 1 Day Pass, SEIBU Kawagoe Pass, or Tokyo Subway Ticket) as a combo package, offering flexibility and convenience to move around Tokyo. The package options are now available on Klook. The Klook app is available via the App Store and Google Play Store. Note that pre-booking is a must. For more information, check out Klook’s official website, Facebook page and Instagram.

GMA Network airs TV shows in Russia

SEVEN of GMA Network’s TV series set to air in Russia this year. Through its content distribution arm GMA Worldwide, GMA sold 248 hours of content, which will be dubbed to Russian, to a leading Russian broadcaster. The acquired titles are: Lolong (Crocodile Whisperer), Love You Stranger, Return to Paradise, Artikulo 247 (Article 247), First Yaya (The First Nanny), Love You Two, and Kapag Nahati Ang Puso (Broken Hearts).

PSE set to introduce new sectoral indices – official

BW FILE PHOTO

THE Philippine Stock Exchange, Inc. (PSE) is set to introduce new sectoral indices this year as it aims to update the classification of listed companies, a company official said on Thursday.

“Hopefully [it will be introduced] by [the fourth quarter] and that’s already set in stone,” PSE Assistant Vice-President and Capital Markets Development Division Head Mark Frederick V. Visda told reporters on the sidelines. an event led by the Shareholders’ Association of the Philippines (SharePHIL).

“It’s really a matter of us putting together some things, but in terms of the revision, that’s it,” he added.

In a report, Mr. Visda said that the PSE will introduce these sectors: consumer; energy and utilities; mining and materials; and technology, media and telecommunications. The move seeks to update company classification in the index.

“We think it’s really about updating how we classify companies in terms of their sectors,” Mr. Visda said.

The revision was due in part to listed companies diversifying their businesses to other sectors, he added.

“We thought that we should capture these changes by revising or updating our sectors,” Mr. Visda said.

The indices, once updated, will total eight from the existing six, with the services sector along with the mining and oil sector either to be replaced or reclassified.

“Also, it is high time that we introduce a consumer sector since that is something that our economy is really dependent on, he said.

The financials, holding firms, and property sectors will be retained.

The local bourse operator benchmarked the MSCI index and other global classification standards as it aligns its sectors.

“If you talk to investors, they are a lot more updated than what we have now. So, we just want to align also with what people are trying to use,” he said.

In terms of impact, the new sectoral indices will see more relevance to investors tracking sector performances, he added. — Adrian H. Halili

On Malaysia homecoming, Oscar winner Michelle Yeoh vows to nurture local film talent

MALAYSIAN actress Michelle Yeoh greets her fans during a public meeting with fans for the first time since winning her first Oscar for Best Lead Actress in Kuala Lumpur, Malaysia April 18. —REUTERS/HASNOOR HUSSAIN

KUALA LUMPUR — Michelle Yeoh is hoping her recent triumph as Asia’s first Oscar-winning actress can help her to support filmmaking talent in her native Malaysia, where she returned on Tuesday to greet fans for the first time since her Academy Award.

Ms. Yeoh, 60, won the Oscar for her portrayal of Chinese American laundromat owner Evelyn Wang in the science-fiction kung fu comedy Everything Everywhere All at Once.

“I know there are amazing filmmakers from this part of our world and we just have to, first of all, we have to create opportunities for them. We have to create platforms that will showcase their talent,” Ms. Yeoh told a news conference before a fan event.

“So I do want to work very closely with the heads of studios here, people who can make the change, people who can push the path forward.”

Dressed in loose jeans and a white blouse, Ms. Yeoh posed for pictures smiling with her Oscar statuette in front of a sign that said “pride of Malaysia.”

She later navigated through a throng of fans eager to capture her return on their smartphones as security personnel propped up barricades and cleared the way.

Ms. Yeoh made her Hollywood breakthrough as the first ethnic Chinese Bond girl in 1997’s Tomorrow Never Dies opposite Pierce Brosnan.

She has also starred in Crouching Tiger Hidden Dragon, the 2005 period drama Memoirs of a Geisha and the 2018 romantic comedy Crazy Rich Asians.

It was Ms. Yeoh’s first Oscar nomination and she was widely tipped as the favorite.

“I heard the roar of joy, happiness all across the world to Los Angeles,” she told fans, recalling when the winner was revealed.

“I thank all of you for having been on that journey with me because I felt your support, I felt your strength, because it was a difficult journey.” — Reuters

Cebu Pacific receives 10th A320neo aircraft

CEBU PACIFIC has received its 10th Airbus 320neo aircraft, which is part of its planned transition to a more fuel-efficient fleet by 2028, the budget carrier announced on Thursday.

“The delivery of our 10th A320neo (new engine option) aircraft, powered by sustainable aviation fuel, highlights Cebu Pacific’s commitment to become one of the greenest airlines in Asia,” said Jose Alejandro B. Reyes, chief strategy officer of Cebu Pacific.

“We continue to invest on these fuel-efficient NEO aircraft and incorporate sustainable aviation fuel (SAF) in our operations,” he added.

The 10th aircraft is the second of the airline’s 10 expected Airbus NEO deliveries for the year. Cebu Pacific is expecting the delivery of eight more Airbus NEO aircraft: one A320neo, three A321neo, and four A330neo.

The airline said on Thursday that it received the new aircraft on April 16, which flew from the Airbus Delivery Center in Toulouse, France to the Ninoy Aquino International Airport using SAF.

SAF is a drop-in fuel similar to conventional jet fuels. The use of it results in up to 80% reduction in carbon emissions across the fuel’s life cycle, according to Cebu Pacific.

“Cebu Pacific is the first low-cost carrier in Southeast Asia to incorporate SAF into its operations when it delivered its third A330neo in May 2022,” it said.

By 2050, the airline is aiming to achieve net zero carbon emissions through various investments in fuel-efficient operations while keeping fares affordable.

The airline is also keen to optimize its resources through fuel-efficient practices and incorporating SAF.

At present, its fleet comprises 30 A320s, 17 A321s, five A330s, and 16 ATRs. — Justine Irish D. Tabile

Russia’s Bolshoi ballet drops Nureyev after ‘LGBT propaganda’ law

NIHAL DEMIRCI ERENAY/UNSPLASH

MOSCOW — Moscow’s Bolshoi theatre has dropped a contemporary ballet about the legendary Russian dancer Rudolf Nureyev from its repertoire following the expansion of a ban on “LGBT propaganda.”

A law passed in November not only widened an existing prohibition on material considered to promote an LGBT lifestyle but also restricts the “demonstration” of LGBT behavior.

This makes any portrayal of homosexuality — such as Mr. Nureyev’s relationships with men after his defection from the Soviet Union in 1961, which the ballet touches on — almost impossible.

The ballet, choreographed by Kirill Serebrennikov, has had a troubled history in Russia, where President Vladimir Putin has long promoted conservative values as part of a nationalist agenda backed by the Russian Orthodox Church.

It premiered in December 2017, several months late, after the then-culture minister reportedly called it gay propaganda, and has not been performed since 2018. Performances scheduled for 2022 were abruptly canceled after Mr. Serebrennikov publicly blamed Russia for the conflict in Ukraine.

“Nureyev was removed from the repertoire in connection with the law … where issues related to the promotion of ‘non-traditional values’ are stipulated absolutely unequivocally,” Vladimir Urin, general director of the Bolshoi, told a news conference on Wednesday.

Mr. Serebrennikov, one of Russia’s leading film, theater, and television directors and stage designers, made his frustration clear.

“This criminal ‘law’ was passed specifically against this show and against several books… Well, OK…” he wrote on his Telegram channel, adding three rainbows — an LGBT symbol.

Mr. Serebrennikov has himself fallen foul of Russian authorities.

He was detained in 2017 and held in house arrest for almost two years, to the outrage of Russia’s liberal cultural establishment, before being given a suspended sentence in 2020 on charges of embezzling a state subsidy. After he repaid the sum, the sentence was cancelled last year. — Reuters

GrabFood sees more transactions, targets sustained growth

GRAB.COM

ONLINE food delivery service GrabFood has seen more consumer transactions and is targeting to sustain its growth, according to its official.

Greg Camacho, Grab Philippines director for deliveries, told reporters in Taguig City on Thursday that GrabFood consumers ordered 1.7 times more in 2022 compared with 2019 levels.

GrabFood is the food delivery service of Grab Philippines superapp.

“We’d seen GrabFood transactions grow 1.7 times so it really means that people are just ordering and doing more transactions in general,” Mr. Camacho said.

“Our goal is to keep growing the number of transactions, which is why we are looking for more touchpoints for consumers,” he added.

Mr. Camacho also said that the average basket sizes of customers using GrabFood increased 84% in 2023 compared with pre-pandemic levels, signaling higher consumer spending.

“The exciting thing about that is people are not doing just transactions, but they are actually spending more per transaction,” Mr. Camacho said.

“More than 50% of transactions on Grab are coming from families. Almost 75% of transactions are for more than one person. That means the basket size will be higher than really just ordering for yourself,” he added.

Mr. Camacho also disclosed that deliveries are seen to remain despite the reopening of the economy, but said that GrabFood is still searching for other opportunities such as the dine-in market.

“If you look at the behavior of deliveries… it’s still here. It’s here to stay,” Mr. Camacho said.

“We’re trying to tap the dine-in market with self-pick-up with scan-to-order. I think through that way, what we see is continued growth, through offering different touchpoints for our consumers,” he added.

Scan-to-order is a dine-in solution that allows consumers to order and pay for dine-in via the Grab app while self-pickup allows consumers to order ahead and claim their orders from merchants.

Meanwhile, Mr. Camacho said that GrabFood recently launched in Cabanatuan and is eyeing to sustain its strong presence in areas outside of Metro Manila such as Cebu, Davao, Bacolod, and Iloilo.

He added that GrabFood is set to launch its services in Tagbilaran City as part of its expansion efforts.

“It is not just the main city centers. We’re really looking for cities that have a potential to be a good delivery city,” Mr. Camacho said. — Revin Mikhael D. Ochave

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