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Former SEC official joins Alternergy

ALTERNERGY Holdings Corp. has appointed Ephyro Luis B. Amatong, a former commissioner at the Securities and Exchange Commission (SEC), as an adviser to the board.

In a statement on Monday, Alternergy Chairman Vicente S. Perez described Mr. Amatong as having “a solid track record on financial markets and securities” as a government official.

“His work as supervising commissioner of markets and securities regulation helped create the right regulatory environment and set the stage for Alternergy to take the plunge of an IPO (initial public offering),” Mr. Perez said.

The appointment came after Alternergy’s market debut on March 24, the company said.

Mr. Perez said that after the IPO, Alternergy now expects wider opportunities for raising capital, which the company will use to fund renewable energy projects.

“Atty. Amatong can be very instrumental in guiding Alternergy with our future capital market issuances, particularly in the area of green bonds,” Mr. Perez said.

Mr. Perez said the company is looking at green bonds as one of its financing modes for its projects in the next three to five years.

Mr. Amatong said Alternergy has “strong prospects for growth as well as multiple opportunities in the growing field of sustainable finance.”

“I look forward to working with the Alternergy team to optimize funding and ensure that its portfolio of power projects is developed and delivered on time for the benefit of the communities it serves,” he said.

Mr. Amatong served as SEC commissioner from May 2014 to March 2022. — Ashley Erika O. Jose

Actor Orlando Bloom visits children’s center in Kyiv

ORLANDO BLOOM visits children’s center in Kyiv —INSTAGRAM.COM/ORLANDOBLOOM

KYIV — Orlando Bloom, a goodwill ambassador for the United Nations children’s organization (UNICEF) and a star of the Pirates of the Caribbean and Lord of the Rings movies visited a children’s center in Kyiv on Sunday.

It was his first trip to Ukraine since 2016, the British actor said. He also met with Ukraine’s President Volodymyr Zelensky.

“I would have never expected the war to have escalated throughout the country since I was there,” Mr. Bloom said on Instagram.

“But today, I was fortunate to hear children’s laughter at a UNICEF-supported Spilno center, a safe, warm, and nurturing space for children to play, learn and receive psychosocial support.”

The Spilno centers, spread throughout Ukraine, offer support for displaced children and their families, with more than half a million children and their caregivers having visited one in the past year, according to a UNICEF statement on its website.

As of March 26, at least 465 children have been killed in the 13-month long war Russia waged against its neighbor, according to Ukraine’s Prosecutor General’s Office.

“He knows what this aggression has brought, how full-scale the world’s efforts must be to stop it, to restore Ukraine after the war,” Mr. Zelensky said in his nightly video address after meeting Bloom. — Reuters

SM Prime launches FourE-Com Center

FOURE-COM Center is the newest Pre-LEED Gold certified office building in the SM Mall of Asia Complex. — COMPANY HANDOUT

SM PRIME Holdings, Inc. expanded its premium office portfolio with the launch of FourE-com Center in the SM Mall of Asia Complex.

“We are expanding our office portfolio on the back of our growth momentum and optimism on the continued recovery of the real estate industry. This is supported by return-to-office policies, take-up of office spaces driven by e-commerce, BPOs and data centers, and demand for innovative and sustainable office solutions that necessitate growth in the real estate sector,” Alexis Ortiga, SM Prime vice-president for commercial properties group, said in a statement.

FourE-com Center will have 100,000 square meters of leasable area in three towers with 15 floors each. It is the latest Pre-LEED Gold certified office building in SM Mall of Asia Complex, and designed by multi-awarded and globally renowned architectural firm Arquitectonica.

“Arquitectonica’s vision for FourE-Com Center is inspired by crystal formations, with three adjacent rhombic towers sprawling down from a landscaped sky garden podium,” the company said.

FourE-com’s sustainable design features include a double-glazed glass curtain to allow natural light to permeate into office spaces, use of LED lighting, water-saving fixtures and aerators, pressure-operated escalators, and recycled water for irrigation. Other building elements also include bike racks, shower rooms, and inter-connected elevated walkways to encourage reduction in carbon footprint.

“We continue to build green buildings with world-class amenities and sustainable features that provide an inspiring work environment for our tenant-partners and stakeholders,” Mr. Ortiga said.

SM Offices’ other LEED-certified buildings include ThreeE-Com Center in the Mall of Asia Complex, Mega Tower in the Ortigas central business district, Aura Tower in Bonifacio Global City, and North Towers in Quezon City.

Green office building Robinsons Cybergate Galleria Cebu gets EDGE certification

ROBINSONS Cybergate Galleria Cebu — COMPANY HANDOUT

ROBINSONS Cybergate Galleria Cebu recently became the only building in the island province to get an EDGE (Excellence in Design for Greater Efficiencies) certification.

It is also the third EDGE-certified project for its developer, Robinsons Land Corp. (RLC).

“We need to develop more green workplaces that improve energy efficiency and boost productivity. We are committed to reduce our carbon footprint and this is very much aligned with the sustainability goals of our tenant partners as well. As we build offices of the future, we need to ensure that future generations will get to experience and enjoy these too,” RLC Senior Vice-President and General Manager for Offices and RL Commercial REIT, Inc. President Jericho P. Go said in a statement.

EDGE is a building certification system created by the World Bank Group’s International Finance Corp. for emerging markets. It seeks to promote resource efficiency in buildings by adopting designs that help reduce materials, water, and electricity consumption.

The Philippine Green Building Initiative considered several unique features of Robinsons Cybergate Galleria Cebu such as the reduced window to wall ratio, reflective paint and tiles for the roof, double glazed glass panels, and air conditioning units that employ Variable Refrigerant Flow technology.

The building also uses LED lighting, an automatic meter reading system, low flow faucets, low volume flush water closets, water efficient urinals, and rainwater harvesting system among others.

“This is an important milestone for Robinsons Offices. With Robinsons Cybergate Galleria Cebu along with the other office buildings that have been certified or awaiting a certification award, it is clear that we have the tools and innovations to become greener and more efficient. We now have the capability to accelerate the transition to a lower-carbon future and a goal of achieving net zero carbon by 2050,” Mr. Go said.

UnionBank eyes P30-B bond issue

BW FILE PHOTO

UNION BANK of the Philippines, Inc. (UnionBank) plans to raise up to P30 billion from an issuance of peso-denominated bonds, it said on Monday.

The Aboitiz-led bank’s board of directors approved the issuance during its regular meeting held on Friday, UnionBank said in a disclosure filed with the local bourse.

“The bank has yet to establish the timetable and other details for the issuance,” it said.

The papers will be issued out of the bank’s bond program, which has been upsized to P50 billion from the P39 billion announced in 2019.

The increase in its bond program was also approved by UnionBank’s board of directors at the same meeting.

The bank previously said proceeds from its bond program will be used “to expand funding base, support business expansion plans, and for other general corporate purposes.”

UnionBank booked a net income of P12.673 billion in 2022, rising from the P12.578 billion posted in 2021, amid improved net revenues and net interest income.

Its shares climbed by 20 centavos or 0.23% to close at P85.50 apiece on Monday. — AMCS

A Brown fully acquires shares in Vires Energy 

A BROWN Co., Inc. has fully acquired Vires Energy Corp., the listed holding firm announced on Monday.

In a stock exchange disclosure, A Brown said the acquisition of the remaining 0.005% shares in Vires Energy increased its ownership to 100%.

In the company’s disclosure dated June 18, 2020, A Brown announced that its board had approved the acquisition of all the outstanding shares of Vires Energy, with its initial acquisition of about 99.995% of shares.

Vires Energy, a subsidiary of A Brown, is one of the seven proponents of liquefied natural gas (LNG) facilities in the Philippines. It plans to develop an integrated floating LNG storage and re-gasification terminal as well as a 450-megawatt floating natural gas-fired power plant in Batangas.

Data from the Energy department show that Vires Energy’s floating storage and re-gasification unit has a total capacity of three million tons per annum and a total construction cost of P6.15 billion.

The power plant is expected to start commercial operations by 2027.

A Brown also said that Vires Energy has also secured an Environmental Compliance Certificate and a Board of Investments registration for fiscal incentives for the floating power plant and LNG terminal components of the project.

The company also said that the notice to proceed was also extended until October 2023 from the initial issued date last April 2021.

Vires Energy said it is now seeking long-term gas supply contracts and baseload off-take agreements. — Ashley Erika O. Jose

Influencers take stock of life and dreams if US bans TikTok

REUTERS

LOS ANGELES — When Cassidy Jacobson was 13 years old, she posted a video of herself dancing on the popular app TikTok.

Little did she know then that six years later her Casssidy_J account would have 1.5 million followers on the short-form video platform with fans drawn to her love of dance and hair care.

Jacobson dreams of using her success on TikTok —  an app used by 150 million Americans — to start her own curly hair care line and inspire others to love their natural curls.

That dream and those of other TikTok creators may be dashed as many lawmakers pressure the Biden administration to ban the popular Chinese-owned social media app in the United States, alleging the app could be used for data collection, content censorship, and harm to children’s mental health.

Last week, TikTok said the Biden administration demanded its Chinese owners divest their stakes or face a potential ban.

Ms. Jacobson is preparing for the possibility that she may have to take her content elsewhere if the Chinese company ByteDance, which owns TikTok, is no longer allowed to provide the app in the United States.

“TikTok is kind of rocky right now and the goal of a content creator is to grow yourself across platforms to have a solid community, you don’t just want to focus on one app,” Ms. Jacobson told Reuters.

Whether it’s creating all new content for YouTube reels or taking her TikTok content and transferring it over to Instagram, the influencer is making sure to diversify her content.

At a tense congressional hearing on Thursday, TikTok chief executive Shou Zi Chew faced tough questions from lawmakers.

“We do not promote or remove content at the request of the Chinese government,” Chew told the hearing, adding the app was “free from any manipulation.”

ALTERNATIVES
There are less severe options than banning the app outright, said Freedom House Research Director for Technology and Democracy Allie Funk.

“Congress could pass a robust privacy law and bolster requirements for companies to be more transparent about their operations and practices,” she told Reuters.

She suggests a comprehensive privacy law to limit data collection from TikTok along with regular audits to ensure transparency.

While it’s still not clear if the bill introduced by senators to grant the Commerce Department power to ban foreign technology will pass, many TikTok influencers are advocating for preservation without prohibition.

“There needs to be protection for users on apps, I think the only way is for the government holding ginormous companies accountable, whether they’re US-based or they’re based in China,” Ms. Jacobson said.

Regardless of the country, she believes that privacy violations from anyone harms everyone.

That is a sentiment echoed by some Democratic lawmakers, some of whom worry about the political fallout for President Joseph R. Biden of banning something so beloved by many young voters.

Trans Chicana TikTok creative NaomiHearts, known for her self-love content, believes a ban would dampen her faith in Mr. Biden, for whom she voted in 2020.

“We put our trust in someone, in my mind there’s no good politician,” said Naomi, who declined to give her full name. “But I put him in office because I believed in what he stood for and as time goes by, I think this is going to affect a lot of people’s opinions.”

Naomi said she is a bit reluctant to switch over to other platforms, as TikTok has given her opportunities that she hasn’t found elsewhere.

Beyond popularity and fans, TikTok backers believe it provides livelihoods, paths to social change, and a sense of community.

“As a trans person in this world, they (society) don’t really care about us, so to be able to make six figures a year because of TikTok, and brands reaching out to me because of that app, it’s wild,” she said. —  Reuters

Toyota Motor Philippines remits P34.6B in taxes last year 

PHILSTAR FILE PHOTO

TOYOTA Motor Philippines Corp. (TMP) announced that it had remitted P34.59 billion worth of duties and taxes last year.

The car manufacturer said in a statement on Monday that it was recognized by the Bureau of Customs (BoC) as the country’s third top importer and revenue contributor for 2022.

TMP imports various vehicles including Toyota and Lexus models, multi-sourced parts for production, and service parts from the Asia-Pacific region, with the Port of Batangas serving as the main port of entry.

“While the Port of Batangas is the primary channel for completely built-up (CBU) vehicle units, it also serves as a gateway for the export of original equipment manufacturer (OEM) parts and components produced by Toyota export parts suppliers, making it an important link to Toyota’s global supply chain,” TMP said.

“TMP also has notable business operations with the BoC-Manila International Container Terminal (MICT) where it is recently certified as a ‘Flagship Elite’ member by International Container Services, Inc., one of MICT’s operators,” it added.

Meanwhile, TMP said that it was also given the “Outstanding Taxpayer Award 2023” by the Laguna provincial government. The company has a manufacturing plant in Santa Rosa City, Laguna, which produces the Toyota Vios and Innova models.

Aside from local production, TMP is also engaged in the wholesale distribution of Toyota and Lexus vehicles across its 73 dealers in the Philippines.

In 2022, TMP led all car manufacturers in terms of sales as it accounted for 174,106 units sold or 49.38% of the 352,596 units sold, based on data from the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA).

As of end-February, TMP posted the highest sales among vehicle manufacturers, with 28,299 units sold or 46.85% of the 60,404 units sold by CAMPI and TMA members. — Revin Mikhael D. Ochave

Philippine Business Bank completes P500-million stock rights offering

PHILIPPINE Business Bank, Inc. (PBB) has raised P500 million from its stock rights offering, it said on Monday.

The bank said in a disclosure to the local bourse that it has completed its offering of 50 million shares priced at P10 apiece.

The actual subscription of the rights shares will become effective only upon their listing on the Philippine Stock Exchange on March 31. The offer period ran from March 17 to 23.

Eligible shareholders were entitled to subscribe to a share for every 4.6428 common shares as of the March 10 record date. The ex-rights date was March 7.

The bank previously said proceeds will be used to increase its capitalization as part of its goal to get a universal banking license and expand its main businesses.

“The proceeds from the offer will be used primarily to increase PBB’s capital to partially comply with minimum capital requirement for a universal bank license and for other general corporate purposes including but not limited to investments, loans, maintenance capex, operating expenses, and other opportunities,” it said.

“The increase will also enable PBB to meet the growing demands of the banking business and positions the bank to exploit opportunities as the economy rebounds,” it added.

The bank said last month that it is aiming to obtain a universal banking license from the Bangko Sentral ng Pilipinas by 2024 or 2025.

PBB’s net income rose by 15.2% to P926.6 million in the first nine months of 2022.

Its shares rose by 27 centavos or 2.85% to end at P9.75 apiece on Monday. — Luisa Maria Jacinta C. Jocson

PropertyGuru Awards open for submissions

PROPERTYGURU, a leading property technology company, said it expects to receive more diversified entries from the Philippines for this year’s Asia Property Awards.

Jules Kay, general manager of PropertyGuru Asia Property Awards, said the Philippine property market remains strong amid the economy’s recovery.

“Last year in the Philippines it was the biggest we’ve ever had, so it’s quite a high benchmark to reach. But from what we are hearing in the market, there are a lot of new products and there’s a lot of progress with projects that are now completing or getting close to completion,” he said during the launch of the PropertyGuru Philippines Property Awards 2023 last week.

PropertyGuru Philippines Property Awards 2023 is now open for submissions on its website asiapropertyawards.com/nominations. The deadline is on July 14.

The site inspections for the entries are scheduled from Aug. 7 to Sept. 1, while final judging is set on Sept. 6.

The gala dinner and awards ceremony will be held at the Fairmont Makati hotel on Sept. 29. The regional grand final gala presentation in Bangkok, Thailand is set on Dec. 8.

Eligible entries are selected by the independent panel of judges, which include experts from various sectors such as real estate consultancy, architecture and interior design, and sustainable development.

PropertyGuru said it has two special recognition awards focusing on environmental, social and governance impact, and sustainable design.

“From a regional level, I can say that it’s starting to have a real impact. [Buyers now] choose properties on their sustainability credentials,” Mr. Kay said. — JIDT

Queen and Adam Lambert to bring Rhapsody Tour back to North America

ADAM LAMBERT and Queen during the Rhapsody Tour on July 11, 2022 at the Unipol Arena in Bologna, Italy. —EMMANUELE OLIVI/LIVEMEDIA VIA REUTERS

NEW YORK — British rockers Queen and US singer Adam Lambert are heading out on the road again, bringing their updated and expanded Rhapsody Tour back to North America after four years.

Guitarist Brian May, drummer Roger Taylor and Mr. Lambert announced on Friday they would return this autumn to the region where they first launched the tour in 2019.

The 14-date swing begins on Oct. 4 in Baltimore and wraps up in Los Angeles on Nov. 11.

“It’s evolved, is the way I would say it. I was tempted to call this ‘The revved up Rhapsody tour’ because it’s a little different from the way you saw it last time,” Mr. May told Reuters in a joint interview with Mr. Taylor and Mr. Lambert.

“We’ve been all around the world with it. All kinds of stuff has happened. Different songs, different production. We’re always putting new stuff in. So, now you look at it and it’s hardly recognizable from the way it started out.”

The new dates follow a UK and European tour last year, with a 150-minute set list including Queen classics like “We Will Rock You,” “Don’t Stop Me Now,” and “Somebody To Love” against a backdrop of dazzling special effects.

“We like to try and introduce different songs, so deeper cuts in amongst the big hits, just to keep ourselves fresh and to (give) the show a little bit more depth. It won’t be the same as people saw before,” Mr. Taylor said.

“It’s nice to give a visual context to these songs that people know so well. And… it changes some of the perception of what the song is about or the feeling of the song when you put it next to another one, when the background is a certain environment,” Mr. Lambert added.

In October, Queen released rediscovered song “Face It Alone” featuring late frontman Freddie Mercury, which was originally recorded in the late 1980s during sessions for the band’s chart-topping album The Miracle but didn’t make the cut.

Asked if might be any future such releases featuring Mr. Mercury, May said: “Hard to answer… There are a few little bits and pieces with Freddie on but it’s getting harder and harder to find anything that hasn’t been heard.”

Mr. May, 75, was at Buckingham Palace last week to receive his knighthood for services to music and charity from Britain’s King Charles.

“We’ve had quite a bit of contact with King Charles over the years so it was nice to see him, we had a nice little chat,” Mr. May said, adding the monarch asked him about his knees when he had to bend down as part of the ceremony.

“It was very intimate, (I) had my family there. He put the sword on both sides and asked me about my knees… We talked about this (knees) because we’re of an age. I’m actually a year older than him.” — Reuters

Globe Telecom, Inc. to conduct annual meeting of stockholders virtually on April 25

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