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Gov’t partially awards T-bills at lower rates

BW FILE PHOTO

THE GOVERNMENT made a partial award of the Treasury bills (T-bills) it auctioned off on Monday at lower average rates amid expectations of slower inflation in March.

The Bureau of the Treasury (BTr) raised just P12.8 billion from its offer of T-bills on Monday, below the P15-billion program, even as total bids reached P34.19 billion or more than twice the amount on the auction block.

Broken down, the Treasury made a full P5-billion award of the 91-day T-bills as tenders for the tenor totaled P13.94 billion. The average rate of the three-month paper went down by 10.40 basis points (bps) to 5.045% from the 5.149% seen at last week’s auction, with the accepted rates ranging from 5.03% to 5.06%.

The BTr raised likewise raised P5 billion as planned from the 364-day debt papers as bids reached P9.815 billion. The average rate of the one-year paper went down by 1 bp to 5.977% from 5.987% last week. Accepted yields were from 5.43% to 6%.

Meanwhile, the government borrowed just P2.8 billion via the 182-day securities, lower than the P5-billion plan, despite demand for the tenor reaching P10.435 billion. The six-month T-bill was quoted at an average rate of 5.674%, inching down by 0.3 bp from 5.677% the previous week, with accepted rates ranging from 5.668% to 5.68%.

At the secondary market on Monday, the 91-, 182-, and 364-day T-bills were quoted at 5.0501%, 5.6771%, and 6.0287%, respectively, based on PHP Bloomberg Valuation Service Reference Rates data provided by the BTr.

The government made a partial award of the six-month T-bills “to guide rates within secondary market levels,” National Treasurer Rosalia V. de Leon said in a Viber message to reporters after the auction.

T-bill rates were lower across the board as the market expects headline inflation to have eased further in March, a trader said in a Viber message.

“Treasury bill average auction yields finally corrected lower ahead of the latest inflation data that could ease year on year due to higher base effects,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

The Philippine Statistics Authority will release March inflation data on April 5, Wednesday.

A BusinessWorld poll of 16 analysts yielded a median estimate of 8.1% for March headline inflation, near the upper end of the 7.4% to 8.2% forecast of the Bangko Sentral ng Pilipinas (BSP) for the month.

If realized, this will be down from the 8.6% in February, but faster than the 4% print in March 2022. March would also be the 13th straight month that inflation was above the BSP’s 2-4% target for the year.

“However, the announced cut in oil output by OPEC (Organization of the Petroleum Exporting Countries) adds another challenge to slaying the ugly head of inflation,” Ms. De Leon added.

Saudi Arabia and other OPEC+ oil producers on Sunday announced further oil output cuts of around 1.16 million barrels per day (bpd), in a surprise move that analysts said would cause an immediate rise in prices and the United States called inadvisable, Reuters reported.

The pledges bring the total volume of cuts by OPEC+, which groups the Organization of the Petroleum Exporting Countries with Russia and other allies, to 3.66 million bpd according to Reuters calculations, equal to 3.7% of global demand.

Sunday’s development comes a day before a virtual meeting of an OPEC+ ministerial panel, which includes Saudi Arabia and Russia, and which had been expected to stick to 2 million bpd of cuts already in place until the end of 2023.

The OPEC+ cuts caused oil price increases of more than 6% on Monday.

On Tuesday, the BTr will offer P25 billion in reissued seven-year Treasury bonds (T-bonds) that have a remaining life of two years and 10 months.

The Treasury wants to raise P160 billion from the domestic market this month, or P60 billion via T-bills and P100 billion via T-bonds.

The government borrows from local and external 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

ALI continues to expand Vermosa Estate

AYALA MALLS Vermosa will soon rise within Ayala Land, Inc.’s fourth largest estate Vermosa in Cavite.

AYALA LAND, Inc. (ALI) continues to ramp up the development of Vemosa, its 725-hectare estate in Cavite.

In a statement, ALI said it is expanding retail outlets and services in Vermosa, as well as adding amenities such as parks, a government center, a church and malls.

Vermosa is a central business and residential district that straddles the cities of Imus and Dasmariñas in Cavite.

“Boasting a complete package of residences, malls, offices, institutions, schools, entertainment venues, government centers, BPOs and a world-class training and lifestyle destination for athletes and fitness enthusiasts, Vermosa continues to spur growth in the Daang Hari corridor,” ALI said.

Manila Electric Co. (Meralco) will have a dedicated substation within Vermosa to ensure continuous power for homes, commercial establishments, institutional facilities and amenities of the Ayala Vermosa Sports Hub.

ALI said the Ayala Malls Vermosa, a Landers Superstore, as well as Army Navy and Panda Express drive-thru stores will soon open.

Vermosa currently has a Petron gas station, as well as branches of Starbucks, McDonalds, Jollibee, Burger King, Coffee Bean and Tea Leaf and Peri- Peri Chicken.

The Philippine Red Cross will also build a headquarters in Vermosa.

“Capital values for commercial lot investments have thus almost doubled at 82% since the Estate was launched in 2014. Home investors have expressed satisfaction with the high turnover rates of the different residential areas,” ALI said.

Vermosa’s residential communities include The Courtyards by Ayala Land Premier, Alveo’s Ardia, and Avida Verra Settings.

Vermosa Campus Town, the estate’s commercial business district will have pedestrian walkways, bicycle lanes, jogging paths, and pocket parks.

FDC net income declines nearly 7%

FILINVEST Development Corp. (FDC) on Monday reported a 6.8% decline in its 2022 attributable net income to P5.65 billion despite what It described as a robust topline growth.

In a press release, it said revenues and other income rose by 13% to P71.1 billion, which it said resulted from “a recovery across all the major businesses.”

“Our financial performance in 2022 demonstrates our portfolio’s resilience and strength amidst the various economic headwinds that beset us,” said Lourdes Josephine Gotianun Yap, FDC president and chief operating officer.

“We are pleased with the steady recovery and improvement of each of our businesses toward last year’s second half. This gives us confidence that the trend will continue in 2023 with the support of a healthy macroeconomic environment,” she added.

In the release, the company said provisions for income tax rose by 153% to P2.4 billion after a one-time tax benefit arising from the Corporate Recovery and Tax Incentives for Enterprises Act or CREATE law in 2021.

FDC said its banking and financial services business made up 42% of its bottom line last year as it contributed a net income of P4.4 billion to the Filinvest group.

The real estate and hospitality segments followed with a combined contribution of P3.5 billion or 33% of the total.

The power subsidiary accounted for P2.2 billion of last year’s net income or 21% of the total. The balance of 4% came from other businesses.

On Monday, FDC shares finished unchanged at P5.50 each.

BSP sets guidelines for banks’ use of digital ‘know-your-customer systems’

THE BANGKO SENTRAL ng Pilipinas (BSP) has issued new rules covering financial institutions’ use of electronic “know-your-customer (KYC) processes,” providing minimum requirements for digital identification and verification of clients.

BSP Circular No. 1170 dated March 30 and signed by BSP Deputy Governor Eduardo G. Bobier as officer-in-charge, amends rules on customer due diligence (CDD), including guidelines on e-KYC, in the Manual of Regulations for Banks and Manual of Regulations for Non-Bank Financial Institutions.

The amendments aim to promote more efficient and seamless identity verification through technology and existing e-KYC systems, BSP Governor Felipe M. Medalla said in a statement.

“E-KYC is one of the key enablers to promote innovation and digital transformation aimed at advancing our financial inclusion agenda,” Mr. Medalla said. 

The new rules laid out the requirements for the use of digital identification and verification as part of the customer onboarding process of BSP-supervised financial institutions (BSFIs).

BSFIs are required to use strong information and communication technology architecture. The technology should also have appropriate onboarding requirements and authentication assurance levels.

They must also adopt tiered or risk-based e-KYC policies and procedures.

“Covered persons may use different methods to conduct customer identification and verification including e-KYC through digital ID system. For this purpose, digital ID systems are systems that cover the process of identity proofing/enrolment and authentication,” the central bank said.

The BSP said identity proofing can be documented digitally, physically, or both, but authentication and credentialing must be in digital form.   

“The digital ID system to be used in conducting CDD must be supported by robust technology, adequate governance, processes, and procedures that provide appropriate level of confidence that the system produces accurate results,” the BSP said.

Covered persons should also comply with the required digitization of customer records under relevant BSP and Anti-Money Laundering Council issuances.

“The covered person shall ensure that its conduct of e-KYC complies with relevant user consent and data sharing and protection/privacy laws, rules and regulations for data processing, storage, and management,” the BSP said. 

“All related transactions and their attendant risks or obligations, including the roles and responsibilities of each party involved, must be explicitly, clearly, and adequately provided by the covered person, and are explained to, understood, and accepted by the customer,” it said.

The central bank said the Philippine Identification System (PhilSys)-enabled e-KYC is an acceptable system under Republic Act No. 11055 or the PhilSys Act and its Revised Implementing Rules and Regulations.

The PhilSys-enabled e-KYC will be launched by the Philippine Statistics Authority (PSA). It will be subjected to PSA’s applicable guidelines and full implementation of the authentication procedures or methods and other related systems under the PhilSys.

However, if a covered person is unable to comply with the CDD measures, the BSFI-involved shall not open the account, commence business relations or any transactions, and should consider filing a suspicious transaction report on the customer.

Institutions that have existing e-KYC systems are given one year to comply with the prescribed e-KYC requirements.

Meanwhile, BSFIs that intend to shift to an e-KYC system must comply with the new rules before implementing their new processes. — K.B. Ta-asan

Manufacturing Purchasing Managers’ Index (PMI) of select ASEAN economies, March 2023

MANUFACTURING ACTIVITY in the Philippines expanded at its slowest pace in seven months in March despite strong demand, S&P Global said. Read the full story.

Manufacturing Purchasing Managers’ Index (PMI) of select ASEAN economies, March 2023

Japan’s Ryuichi Sakamoto, composer of The Last Emperor score, 71

COMPOSER Ryuichi Sakamoto, seen here at a 2018 press conference for the 68th Berlinale International Film Festival where he was a jury member, died on March 28.

TOKYO —  Ryuichi Sakamoto, the Oscar-winning Japanese composer famed for his scores for The Last Emperor, Merry Christmas Mr. Lawrence and other epic films, has died aged 71.

Mr. Sakamoto was also known for his acting, and for his work with the pioneering electronic music band Yellow Magic Orchestra (YMO) which he co-founded.

“He lived with music until the very end,” Avex, the recording company he worked with, said on its website. He had been suffering from cancer, but kept working in his home studio whenever his health allowed, the statement added.

He died on March 28, Avex said.

Introduced to the piano as a toddler, Mr. Sakamoto lived for music. As a high schooler, he rode on Tokyo commuter carriages so packed nobody could move, amusing himself by counting all the different sounds the train made along the way.

Mr. Sakamoto, who described French composer Claude Debussy as his hero, studied ethnomusicology at the Tokyo National University of Fine Arts and Music, with particular interest in the traditional music of Japan’s Okinawa prefecture as well as Indian and African musical traditions.

“Asian music heavily influenced Debussy, and Debussy heavily influenced me. So, the music goes around the world and comes full circle,” he told WNYC public radio in 2010.

Embracing electronic music, he and fellow studio musicians Haruomi Hosono and Yukihiro Takahashi formed YMO in 1978. The band’s groundbreaking use of a vast array of electronic instruments brought both domestic and global success.  

Sakamoto’s first score was for the 1983 film Merry Christmas Mr. Lawrence, in which he also played the commandant of a prisoner of war camp, starring alongside David Bowie. The score went on to win a BAFTA.

His most celebrated work was 1987’s The Last Emperor —  a film in which he also acted. The score won an Oscar, a Grammy and a Golden Globe.

Fans posted tributes on social media.

“Rest in peace Maestro. Your music enriched our lives and changed our view of the world around us and within us,” read one message on the Twitter account @elhichri0.

Sakamoto, who was an anti-nuclear campaigner and environmental activist, took a break from work in 2014 for about a year to be treated for throat cancer. Though cured of that after years of treatment, he announced on his website in January 2021 that he had been diagnosed with rectal cancer.

In December 2022, Sakamoto gave what was clearly meant to be a farewell concert for his fans, broadcast online.

“My strength has really fallen, so a normal concert of about an hour to 90 minutes would be very difficult,” he said in an online message several days before.

“As a result, I’ve recorded it song by song and edited it together so it can be presented as a regular concert —  which I believe can be pleasurable in the normal way. Please, enjoy.” — Reuters

Landco unveils The Spinnaker

THESPINNAKER.LANDCO.PH

LANDCO Pacific Corp. recently unveiled The Spinnaker, a luxury beachfront condominium in San Juan, Batangas.

“This project is called The Spinnaker, for its shape. The Spinnaker is the sail that you put in front of the ship to face the wind — it is the yacht’s turbocharger,” Landco President and CEO Erickson Y. Manzano said in a statement.

The Spinnaker is a premium, medium-rise condotel that will rise at the beachfront of the 23-hectare Club Laiya in San Juan, Batangas.

It will have 247 units and hotel-like amenities such as a well-designed lobby, gym and spa, infinity lap pool, kid’s pool, lounge and bar, kid’s play zone, ballroom, a sky bar and helipad. It will also have common and podium parking, as well as meeting rooms and storage rooms.

All units will have a view of the sea by Tayabas Bay, while other units will have a view of both the seascape and landscape featuring Mt. Daguldol.

Residents and investors will have access to Club Laiya amenities and activities, as well as benefits under the Landco Privilege Program.

The Spinnaker offers studio units (34-37 square meters), one-bedroom units (44-52 sq.m.), two-bedroom units (86 to 123 sq.m.), and three-bedroom units (91-225 sq.m.). It also has one-bedroom bi-level units (70-sq.m.), two-bedroom bi-level units (130 to 198 sq.m.), and three-bedroom bi-level unit (315 sq.m.).

Landco is a subsidiary of Metro Pacific Investments Corp. (MPIC).

MPIC is one of three Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being PLDT, Inc. and Philex Mining Corp. Hastings Holdings, Inc. —  a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc. — maintains interest in BusinessWorld through the Philippine Star Group, which it controls.

Benguet Corp. reports 6% lower income

BENGUET Corp. recorded an after-tax net income of P1.33 billion in 2022, down 6.3% from P1.42 billion a year earlier, despite ending last year with higher consolidated revenues.

In a stock market disclosure, the listed mining company said it recorded a lower bottom line “as fluctuations in noncash revaluation adjustments decreased but still commendable given the current economic volatility due to pandemic hangover.”

Consolidated revenues last year reached P4.03 billion, higher by almost 5% compared with the P3.84 billion posted in 2021.

“The revenues were sourced mainly from nickel, gold, and lime sales,” Benguet Corp. said.

Operating income also increased by 5.7% to P1.66 billion from P1.57 billion previously.

“The upward trend was supported by elevated metal prices and favorable foreign exchange that prevailed through most of the year,” the company said.

On Monday, shares in the company finished unchanged at P4.87 apiece.

BDO signs business alliance deal with Japanese lender

BW FILE PHOTO

BDO UNIBANK, Inc. (BDO) has inked an agreement with The Hyakujushi Bank, Ltd. (HBL) to provide banking support services to clients of the foreign lender that plan to establish or expand their businesses in the Philippines.

BDO signed a business alliance agreement via a memorandum of understanding with The Hyakujushi Bank with April 3 as its execution date, it said in a disclosure to the local bourse on Monday.

It said the agreement “aims to further strengthen the relationship between these two banks as BDO provides banking support services to Japanese business entities who are HBL customers and have existing operations or plan to build or expand their businesses in the country.”

“HBL expects to grow its roster of customers in the Philippines with new investments and business matching deals,” BDO said.

The Hyakujushi Bank, which is a regional bank based in Kagawa Prefecture, is the 16th Japanese bank that has partnered with BDO so far for the past 10 years.

The Japanese lender has 132 branches including satellite offices and commercial banking services. It has 60,000 corporate clients that are mostly located in industrial zones.

BDO booked an attributable net income of P57.054 billion in 2022, 33.33% higher year-on-year, amid strong results across all its core businesses.

Its shares declined by 30 centavos or 0.23% to close at P128.20 apiece on Monday. — AMCS

National Government fiscal performance

THE NATIONAL GOVERNMENT’S (NG) budget deficit slightly widened in February as revenue collection slipped and spending was flat, the Bureau of the Treasury (BTr) reported on Monday. Read the full story.

National Government fiscal performance

Easter Celebrations (04/04/23)

EASTER sweets and treats by Benilde Culinary Arts alumna Chef Lovely Jiao of Sugarplum Pastries

Easter eggs and more from Sugarplum Pastries

CHEF Lovely Jiao, the baker behind Sugarplum Pastries, once again offers treats and sweets to add fun and festivity this Easter. Specifically concocted for the season, her crowd-favorite themed cookie-do makes a comeback with a how-to color wheel guide to mix-and-match the frostings. Dubbed as the Egg-citing Kit, the D.I.Y. (do-it-yourself) package comes with piping bags of red, yellow, blue, and white frosting, and naked confetti biscuits in the shapes of eggs, rainbows, and flowers. The selection also features four Chocolate Surprise Eggs, which, when smashed, pop sprinkles and toppers. There is also the Hatch Me, a scene-stealing four-inch-tall Easter egg. Coming with a complimentary wooden mallet, it is a chocolate-smashing event as it is filled with a generous serving of an assortment of candies and other goodies. Ms. Jiao earned her culinary degree from the De La Salle-College of Saint Benilde, before establishing her own brand and launching Sugarplum Pastries in 2011. For more information, visit www.sugarplumpastries.com or the Facebook Page on https://www.facebook.com/sugarplumpastriesph.

Easter at City of Dreams Manila

A LINE-UP of Easter experiences and treats are in store at City of Dreams Manila from an Easter event at DreamPlay to Sunday brunch at Nobu Manila and Easter treats at Café Society. DreamPlay presents the Ultimate Easter Eggstravaganza 2023. This exclusive Easter event for passholders will be held on April 9, 10 a.m. to 3 p.m., and registration starts at 9:30 a.m. The facilities will be open to the public from 3 to 8 p.m. The VIP pass (P3,999) allows participants access to Easter activities and 12 attractions, a brunch buffet, and a meet and greet with DreamWorks characters. The activities include a chocolate egg hunt at 11 a.m.; a separate hunt for DreamPlay special eggs to win prizes; a magic show with balloon twisting; egg mold coloring; and a parade at The Shoppes at the Boulevard. For parents and guardians accompanying their children, a non-participating pass (P1,999) comes with access to the Easter event, a brunch buffet, and meet and greet with DreamWorks characters. The brunch buffet at Chez Gingy will be open from 11 a.m. to 2 p.m. The Easter event at DreamPlay is open to only 150 VIP and 100 non-participating passholders. Activities are for ages five years old and above. Children below five years old with a VIP pass must be accompanied by an adult with a VIP pass to participate in the activities. Reservation is ongoing. Over at Nobu Manila, the restaurant hosts an Easter edition of its popular Sunday brunch. Taking the Nobu Easter dining experience up a notch, the seafood bar offers fresh oysters, blue crabs, shrimps and slipper lobster; the carving station will feature two specialties, roasted whole wagyu beef leg with choice of wasabi mushroom or creamy wasabi sauce, and smoked wagyu beef brisket. The Nobu Easter brunch will be open from 11:30 a.m. to 3 p.m. and price starts at P4,303 net per person for the Regular package, inclusive of non-alcoholic beverages and mocktails. Up until April 9, Café Society will offer a selection of Easter treats and showpieces: handcrafted chocolates including the Easter bunny and duck chocolates, oversized chocolate eggs containing eight praline eggs, whimsical egg chocolates with bunnies, and chocolate chicks. There are also Easter cakes: Carrot Flower, Chocolate Basket with Easter chocolate eggs as toppings, Mango Egg Hunt decorated with fresh slices of mangoes and Easter chocolate eggs, and Chocolate Basket with Easter chocolate eggs and a fanciful bunny with its head burrowed in the cake. Finally, guests availing of a staycation at the three Forbes Travel Guide-rated hotels Nüwa Manila, Nobu Hotel and Hyatt Regency Manila, from Maundy Thursday (April 6) to Easter Sunday (April 9), will be treated to a special welcome gift of Easter meringue lollipops. The Easter welcome amenity is available for bookings made via direct channels and applicable Best Available rates or Rack rates should be booked to avail of the amenity. For inquiries, call 8800-8080 or e-mail guestservices@cod-manila.com or visit www.cityofdreamsmanila.com.

Easter at Crowne Plaza, Holiday Inn Manila Galleria

AN EASTER party called Bunnyland in Galleria will be held on April 9 at the Emerald ABC, 4th level of Crowne Plaza Manila Galleria. The program, which starts at 11 a.m., includes a magic show, Easter Egg Hunts, a piñata, balloon twisting, and bubble show. There will also be inflatables and a soft play set, face painting, and arts activity until 3 p.m. Loot bags will also be distributed at the end of the day. Upon registration for the Easter Egg Hunt, each child’s height will be measured, and they will be grouped per batch accordingly. Each participant shall receive a band color coded with their corresponding batch. For more information, call 98790-3100, fandb.reservations@ihg, or 0927-163-0128.

Easter break at Richmonde Hotel Ortigas

AT THE center of the metro within Ortigas Center is Richmonde Hotel Ortigas which offers local staycationers a soothing sanctuary at special rates for an easy and affordable urban getaway. Available from April 1 to 10, Richmonde’s Easter Break Escape Room Package provides guests with a soothing sojourn for as low as P3,400 net per night if staying for two or more nights. Overnight rates are priced starting at P3,500 net for Sunday to Thursday stays and P3,700 net for Friday and Saturday check-ins. For rates that come with daily breakfast buffet for up to two adults and two children aged five years old and below, rates begin at P4,200 net per night for a minimum of two nights, P4,300 net and P4,500 net for nightly stays from Sunday to Thursday and Friday to Saturday, respectively. All guests also get complimentary use of the Health Club’s gym and heated indoor pool, scheduled afternoon snacks at the café and lemonade at the pool area on April 6, 7, and 8. And for the convenience of in-house guests on April 9, an Easter Sunday mass will be celebrated at the 3rd floor function rooms at 10:30 a.m. For guilt-free indulgences this Lent and the summer season, the hotel’s all-day dining restaurant, Richmonde Café, introduces new seafood specials featuring fresh and healthy pescatarian dishes like grilled blue marlin (P810 net), sous vid black cod (P940 net), and salmon teriyaki (P865 net). These are available for a la carte orders the whole month of April. For bookings and inquiries, call 8638-7777 or e-mail stay@richmondeortigas.com.

Hotel Okura Manila’s offerings for Holy Week

IN HARMONY with the Holy Week observation in the Philippines and the spring season in Japan, Hotel Okura Manila will offer staycations, meat-free dishes, and vents for children and the whole family. Easter is a little sweeter with a selection of desserts crafted by the hotel’s pastry team. These treats feature themed motifs such as the egg, which represents new beginnings, and the rabbit, which symbolizes prosperity for P350++, which are available from April 1 to 9. The hotel’s all-day dining restaurant Yawaragi will be serving Meat-free Teishoku lunch sets with rice and various side dishes from April 3 to 9 (Holy Monday to Easter Sunday), with the price starting at P850++ per set. Yawaragi’s Easter brunch offerings include robatayaki-grilled yakitori, assorted fresh sashimi, Japanese hot dishes, and signature roast carving. To top off the springtime celebration, children can join egg painting activities and entertainment. The Easter brunch is available on April 9 from noon to 3 p.m. for P3,700++ per person. The hotel, located at Newport World Resorts, offers the Haru room packages which include a special welcome amenity, daily breakfast for two adults and two children, P2,000 food and beverage credits at Yamazato Restaurant, and access to the fitness center and outdoor swimming pool. The Haru room package price starts at P15,000 net per night. Booking dates are from March 20 to April 10 for the stay period beginning April 1 to 15.

Easter party at Eastwood Richmonde Hotel

EASTWOOD Richmonde Hotel has an array of exciting promotions and activities guests of all ages can enjoy. It will be a Beary Happy Easter at Eastwood Richmonde’s kiddie party on April 9, from 1 to 5 p.m. at the Ballroom and Amberley-Belmont Rooms. The event includes a snack buffet and food carts, Easter egg hunt, kiddie show with musical performances, and a bear-themed costume contest, plus photo booth, loot bags, games and prizes. Tickets are P1,499 net per child or adult. Children two years old and below are free if accompanied by a paying adult. During the Holy Week holiday from April 6 to 8, the hotel’s all-day dining restaurant, Eastwood Café+Bar, will serve a merienda buffet from 2:30 to 5 p.m. The Filipino snacks including pancit canton, arroz caldo, turon, sapin-sapin, halo-halo and more. The buffet is priced at P499 net, inclusive of a glass of iced tea. Come Easter Sunday, Eastwood Café+Bar will be presenting its newest weekend lunch buffet spread. Consisting of international favorites like roast beef short plate, maki rolls, hot pot, lechon belly roll, and many more, the Sunday Lunch Buffet will feature a Greek station with lamb shank and fish, plus a choice of tzatziki, skordalia or tabbouleh sauce. Priced at P1,499 net, it comes with bottomless iced tea and coffee. Children age six to 12 get a 50% discount while toddlers five years old and below eat for free. Richmonde’s Easter Eggsperience Room Packages, available from April 1 to 10, provide three rate options guests can choose from. For a no-frills stay, rates start at P3,800 net, which is good for room accommodation for up to two adults and two children five years old and below. For as low as P5,600 net, get inclusions of breakfast buffet for two and P500 dining credits that can be used for food and beverage orders at Eastwood Café+Bar or from room service. Then there’s the Easter Celebration Package, available on April 8 and 9, starting at P8,600 net which includes breakfast buffet for two, dining credits worth P500, and two tickets to the hotel’s April 9 Easter Party. All rates include complimentary use of the pool and gym, a 20% discount on restaurant and room service orders, and a 15% discount on all services of Lumiere Skin and Spa located beside the hotel’s mall entrance. For inquiries and bookings, call 8570-7777, 0917-531-6867 or e-mail stay@eastwoodrichmonde.com.

Ortigas Malls hold Easter egg hunts

ORTIGAS Malls have their own activities on Easter Sunday for kids and kids at heart. Greenhills goes to the farm with its Barn Eggsploration on Easter Sunday. Children can go hunting for Easter eggs with farm animals at the mall. Guests can register by scanning the barcode on their Ortigas Community Card, and spending an accumulated or single purchase worth P1,500 from March 17 to April 9 to register and participate. They may claim their tickets at the concierge area on the second floor of Centermall. At Tiendesitas, Easter Sunday takes on a Hawaiian luau theme. The Hawaiian Eggventure will feature balloon twisting, and egg and face painting from 1-2 p.m., an egg hunt from 2-3 p.m., and a luau mini musical show from 3-4 p.m. Guests can register by scanning the barcode on their Ortigas Community Card, and spending an accumulated or single purchase worth P1,000 from March 17 to April 9 to register and participate. Meanwhile, Estancia Mall will feature Pororo and Friends for an Easter Eggventure where kids hunt for eggs with them. Guests can register by scanning the barcode on their Ortigas Community Card, and spending an accumulated or single purchase worth P2,000 from March 17 to April 9. Tickets can be claimed at the concierge area at the ground floor of the East Wing. Register for an Ortigas Community Card via the Ortigas Malls app.

Easter traditions at Peninsula Manila

THE PENINSULA Manila invites guests to celebrate Holy Week — April 5 to 8 — and Easter Sunday and Monday on April 9 and 10 with a variety of activities and experiences for the whole family. On Easter Sunday, the hotel will hold the “It’s a Small World” Easter Adventure and Egg Hunt” at the Rigodon Ballroom. There will be numerous activities from face painting and Easter toy making, to Easter egg coloring and magic shows, and a visit from the Easter Bunny, who will be helping children fill their Easter baskets with eggs hidden in the “It’s a Small World” maze. Children from one to 12 can join the event which will run from 2:30 to 5 p.m. A lavish afternoon merienda buffet will be served in the ballroom. The egg hunt costs P4,000 for one child 12 years old and below including one adult, and P2,800 for an additional child or adult. The Lobby invites guests to a Filipino merienda, “EveryBunny’s Merienda Buffet,” featuring a selection of regional dishes from 2:30 to 5 p.m., April 6 to 8 (Maundy Thursday to Black Saturday). The merienda is available for P3,800 (with a flute of Champagne), P2,800 (adult), and P1,400 (children below 12). Meanwhile, The Lobby is serving the “Catch of the Day” seafood platter from April 6 to 10 (Maundy Thursday to Easter Monday), from 11 a.m. to 10 p.m. Good for two persons, the platter costs P4,500. During the long Easter weekend, The Lobby is going to have its own version of old-time ice cream parlors where they’ll be scooping frozen treats like the “Tropicana” and “Strawberry Blondie” sundaes as well as serving ice cream by the scoop. It will be open from April 6 to 9, 9 a.m. to 5 p.m., with sundaes going for P590 and P250 per scoop. Over at Escolta, it will be serving the all-you-can-eat “I Sea Buffet” Seafood Dinner Buffet from April 6 to 9, 6:30 to 10:30 p.m., for P3,800 for adults and P1,900 for children below 12. For Easter Sunday brunch, it will be serving the “Hoppy Easter Buffet Extravaganza” from noon to 3 p.m., for P7,000 (with free-flowing Champagne for two hours), P4,500 for adults, and P2,250 for children below 12. Meanwhile, Old Manila will serve the “Fruits de Mer” Seafood Menu on April 8 from 6:30 to 11 p.m. Old Manila Chef de Cuisine Domenico Nicolino presents a five-course Easter dinner menu where seafood flown in fresh weekly from Europe and South America takes center stage. The dinner is P6,000 per person. Over at Spices, there is the “Hooked on Crab” Eat-All-You-Can Crab Feastserved from April 5 to 10, for lunch at 11 a.m. to 2 p.m., and again for dinner at 6 to 10 p.m., for P2,000 per person. The Peninsula Boutique will offer “The Easter Bunny’s Favorites,” an Easter selection of cakes, hot cross buns, cakes, pastries, and other Easter treats, daily from 9 a.m. to 5 p.m. The hotel also has an “It’s Hip to Hop to The Peninsula this Easter” room package. Rates start at P14,200 for a Deluxe Room (exclusive of taxes) and includes a breakfast buffet in Escolta for two adults and two children (12 years old and below) and one passport for one child and one adult to the egg hunt on Easter Sunday. Stay dates are April 6, 7, 8, and 9. For inquiries or more information call 8887-2888 ext. 6630 (Rooms Reservations) or e-mail reservationPMN@peninsula.com or ext. 6694 (Restaurant Reservations), or e-mail diningPMN@peninsula.com.or visit peninsula.com.

Easter festivities at Conrad Manila

CONRAD Manila concludes the Lenten season and celebrates the coming holidays with festivities such as the “Easter Feast” at Brasserie on 3, Easter goodies from Bru Coffee Bar, and an “Afternoon Tea by the Bay” at C Lounge. Available on Easter Sunday, April 9, Executive Chef Warren Brown will offer an Easter-themed buffet spread at Brasserie on 3, the hotel’s all-day restaurant. Buffet highlights include Sustainable Seafood Paluto, Prime Ribs, as well as a Dessert Station with traditional Easter favorites such as chocolate bunnies and eggs, complemented by kakanin or Filipino rice cakes from different regions. The “Easter Feast” is priced at P3,500 nett per person, available for lunch and dinner. Children dining at any of Conrad Manila’s F&B outlets with their parents or adult companions can come in Easter costumes and take part in special Kiddie Afternoon Activities such as the traditional Easter Egg Hunt, face painting, balloon twisting, magic show and more. The Easter Egg Festival is open from noon to 4 p.m. at the Roosevelt function room. The C Lounge pairs signature teas with delicately hand-crafted sweet and savory Easter-inspired light bites including lemon tartlet, macarons, and mango panna cotta, among others. Available for the whole month of April from 2 to 4 p.m., “Afternoon By The Bay” at C Lounge is priced at P2,688++. Until April 9, The Bru Coffee Bar offers a selection of Easter Chocolate Bunnies, Surprise Eggs, Signature cakes and more, all available to order online for takeaway or delivery. Prices start at P150 net. Finally, the Conrad Spa is offering “Easter Bliss,” a package that includes a coffee scrub followed by its signature healing massage, complemented by BRU Coffee Bar’s specialty coffees. The package, priced at P5,000, is available throughout April. For inquiries or reservations, call 8833-9999 or e-mail conradmanila@conradhotels.com.

Easter treats at Newport World Resorts

INTEGRATED property Newport World Resorts has lined up offers to entertain the whole family this Easter, from hotel stays and dining treats to fantastic events. At the Manila Marriott Hotel, an Easter Wonderland awaits on Easter Sunday, April 9, with festive food, a friendly mascot, and a magician for P3,900 net per person. Kids who join the Easter Egg Hunt can win vouchers and gift certificates for the most eggs collected. The Hilton Manila’s Kusina Sea Kitchens will serve an Easter Sunday Buffet Brunch. Meanwhile, the Ballroom gets dressed up with fun kiddie Easter activities from inflatable castles, face painting, magic shows and so much more. Kusina’s Easter buffet with access to its Easter activities and games at the Ballroom is priced at P3,500++ per adult and child. Doors open at 11 a.m. The Sheraton Manila Hotel celebrates with an Easter Sunday party at S Kitchen, with buffet, egg hunting and decorating activity, and access to games and loot bags. For P3,888 per person. Hotel Okura Manila suggests a staycation with the Haru (Spring) Room Packages available for rates starting at P15,000 net per night. On Easter Sunday, its restaurant Yawaragi serves a bountiful Japanese-inspired celebration for P3,700++ per person. Newport Mall’s restaurants are also marking the occasion with seafood fare taking center stage. There is Filipino restaurant Crisostomo’s Lenten Special Savory Seafood Sinugba; Wolfgang’s Steakhouse offers Tuna Tartar, Jumbo Shrimp Cocktail, and Lobster Salad; while Nikkei Robata serves fresh Hokkaido Scallops. After dining, take the kids to the Easter Party at The Plaza at the second floor of Newport Mall. To join, guests need to present a single purchase receipt worth at least P1,000 from the ToysRUs Toy Fair, and a single receipt worth P1,000 from any of Newport Mall’s dining, shopping, amusement, and wellness establishments, and Newport Cinemas dated April 3-8. At the Easter Party, kids can try out some of the hottest toys of the year, join an Easter egg hunt, a costume contest, and play games. Book an overnight stay in a standard room at the Holiday Inn Express Manila-Newport City between April 5 to 10 and get access to the Easter Party at Newport Mall on April 9. Newport Mall’s operating schedule has been adjusted in observance of the Holy Week. On April 2-6, it will be open from 11 a.m. to 11 p.m., the mall will be closed on April 7, and reopen on April 8-9, from 11 a.m. to 11 p.m.

The Circus is coming to Alabang Town Center

THIS Easter, the circus comes to town at the Alabang Town Center. The festivities run from April 8 to 10. At the center of it all is the Digital Circus Ring at the Activity Center. Children can get creative in drawing and coloring their own circus animal and see them come to full view on the large LED screen. There will also be circus animals in large 3D format, and circus games like dunk tank and foam blasters which will be open to all those who want to play. Soft play games will also be available for kids three years old and below. On Easter Sunday, there will be an Easter Egg Hunt. There will be five batches scheduled throughout the day from 11 a.m. to 6 p.m. And each lucky child who finds the golden egg will be eligible to participate in the grand raffle and get the chance to win a brand-new Nintendo OLED. Children ages two to seven years old are scheduled to hunt at 11 a.m. and 3 p.m.; those ages eight to 12 years get their turn at 1 and 4:30 p.m.; and the 6 p.m. hunt is for kids ages two to 12 years old. To participate in the Easter weekend activities, visitors will need a Cirque du Animaux wristband which may be obtained by going to the concierge and presenting a single or accumulated receipts worth P2,000 for each child. To join the hunt on Sunday, an additional single or accumulated receipt worth P1,000 must be presented. For soft play games, a Soft Play wristband must be acquired by presenting a single receipt worth P500 for each toddler. For those who only want to participate in the Easter Egg Hunt, a single or accumulated receipts worth P3,000 is required. Slots are limited for the Easter Egg Hunt.

Century City Mall Easter events 

Celebrate Easter Sunday at Century City Mall with Easter Sunday’s Art & Mystery. This all-day event (11 a.m. to 5 p.m.), in collaboration with Mystery Manila, Sip & Gogh, and Taters, is filled with family-friendly activities. Shoppers must present a P500 receipt from any Century City Mall store dated April 9 to join in on the fun at Level 1, Main Atrium. Participants need solve four stations of Mystery Manila games.T hey can also practice their creativity with Sip & Gogh’s Easter Egg-painting activity. Taters will provide all participants with free popcorn before they leave the activity area. Visitors who dress up as the Easter Bunny can go to the Concierge to claim two free cinema passes. Century City Mall will be closed on Maundy Thursday and Good Friday. Mall hours of 10 a.m. to 9 p.m. will resume on Black Saturday. Century City Mall is located at Century City, Kalayaan Ave. corner Salamanca St., Makati City. 

Sweet Easter at Crimson Hotel 

Hop on over to Crimson Hotel Filinvest City Manila this Easter weekend for egg-citing activities, dining options, and staycation packages. On April 9, the Crimson Grand Ballroom will transform into a candy land. There will be games, a special egg hunt, an interactive show, costume and egg-decorating contests, and an Easter snack buffet. Tickets cost P1,350 net per person. Café Eight will offer an Easter Sunday Buffet Brunch on April 9 from noon onwards for P2,600 per person. In addition, Baker J and Firehouse Pizza have prepared Easter treats. Baker J’s Easter-themed cake is available in two sizes: a whole cake for P950 and a mini cake for P300 net. Firehouse Pizza is offering an Easter Bundle that includes classic pizza, a signature pizza, a chicken platter, a pasta platter, and a chocolate Stracciatella dessert for P3,200 net. For the Easter and long weekend holidays, the hotel offers staycation packages start at just P7,999 for a Deluxe room for one night or P13,300 for a two-night stay. Each package includes two tickets to the Easter Adventure in Candy Land on April 9, a special Easter welcome amenity, and other exclusive perks. To get tickets to the Easter Adventure in Candy Land event, visit https://bit.ly/eastercandyland. To reserve a table for the Easter Sunday Brunch Buffet, visit https://bit.ly/cafe8eastersunday. For room reservation, visit www.crimsonhotel.com/manila. 

TLDC starts work on premium condo project

COMPANY HANDOUT

TORRE Lorenzo Development Corp. (TLDC) is taking the next stage in the development of its 1.6-hectare integrated-use complex in Davao City with the construction of Crown Residences, a two-tower premium condominium.

The residential buildings will be within Tierra Davao, where the dusitD2 hotel and the Dusit Thani Residence are located.

“Putting the residences at the back will be phase 2 of the project. Phase 3 will be the corporate center in front,” TLDC Chief Executive Officer Tomas P. Lorenzo said during the recent project launching ceremony.

The 21-storey Crown Residences will be low-density with 322 units consisting of studio, one-bedroom and two-bedroom units, each with a private balcony that looks out into the Davao Gulf.

“With Crown Residences, we are bringing the same premium residences that we are known for,” TLDC Chief Operations Officer Cathy Casares-Ko said in her presentation during the launch.

It will also have open spaces, including a yoga and meditation garden, jogging trail, swimming pool, children’s playground, and a pet park. Other amenities include a fitness facility and function room.

The company is putting in a total of P3.2 billion into the full development of Tierra Davao, which will also have commercial spaces at the office building.

“The plan was to put a hotel as an anchor so people would know that something is happening in the area of Barrio Pampanga, Davao City. So now we are continuing this project… because the hotel has been so successful bringing in the much-needed international and local travelers,” Mr. Lorenzo said. — Maya M. Padillo

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