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ACEN allots P55-B investment for renewable energy

AC ENERGY Corp. (ACEN) is allocating P55 billion as capital expenditure budget for the expansion of its renewable energy business, its chairman said during the Ayala-led firm’s annual meeting on Monday.

“We have earmarked P55 billion for our renewable energy expansion,” ACEN Chairman Fernando Zobel de Ayala told stockholders during the virtual event.

“Last year was a noteworthy period, as we added 1,200 megawatts (MW) of renewable attributable capacity. The company also increased its project pipeline to 18,000 MW, putting its position to aggressively expand its renewable investments,” he said.

During the same meeting, ACEN President and Chief Executive Officer Eric T. Francia said the company had raised “significant capital” of about P48 billion last year “to help enable and convert” a pipeline of renewable energy developments into operating projects.

“Given our strong growth momentum, the company is beginning to look ahead to 2030, and we will soon firm up our 2030 vision and strategy,” he said, noting that the company’s 2030 vision will be unveiled later in the year.

Currently, 87% of ACEN’s capacity, or 3,300 MW, is sourced from renewables such as solar, wind, and geothermal.

The Philippines remains to be ACEN’s core market, accounting for 40% of the listed energy platform’s capacity, while the other 60% comes from various international ventures.

The company plans to continue building on three key strategies for its aggressive growth plans: expanding its geographic footprint, investing in new technologies, and forming strategic partnerships.

To complement its renewable energy generation projects, ACEN has embarked on battery storage development, floating solar, and offshore wind energy.

In 2021, the company tapped Nefin for distributed generation, German-based IB Vogt for Asia Pacific solar projects, and Super Energy for solar energy facilities particularly in the Greater Mekong area in Southeast Asia.

“These recent developments strengthen both ACEN’s organic development and operating capabilities and our partner network across the region,” Mr. Francia said.

Last year, the company started building more than 500-MW worth of projects, including the 283-MW San Marcelino solar farm in Zambales and the 160-MW Pagudpud wind farm in Ilocos Norte.

Mr. Francia said the two projects are set to be the country’s largest solar and wind farms once operational in 2023.

Within the region, ACEN has reached 1,000 MW of attributable capacity in Vietnam as it completed several wind farms with a combined 360 MW of attributable capacity, including the acquisition of a 49% stake in Super Energy’s 837-MW solar platform in Vietnam.

The company is also constructing the 520-MW-peak New England solar farm, which it expects to be the largest solar farm in Australia and the 420-MW-peak solar farm in India.

“To unlock the potential of our core solar and wind projects, we will be complementing these with battery storage to help manage the intermittency,” Mr. Francia said.

ACEN last year started operating the 40-MW Alaminos energy storage project, its first battery storage, which complements a 120-MW solar plant.

“We also started the construction of a 15-MW-hour battery storage project in Vietnam. This is a pilot utility-scale project supported by the US government,” Mr. Francia said.

On Monday, shares in the company slipped P0.04 or 0.49% to close at P8.16 each at the stock exchange. — Ram Christian S. Agustin

SM Prime sets aside P80-B capex for 2022

SM PRIME Holdings, Inc. announced on Monday that it is allocating P80 billion as spending budget this year, of which 20% will be used for land banking.

SM Prime President Jeffrey C. Lim said that the remaining 80% of the planned capital expenditures (capex) will be used for the development of malls, residential and office spaces.

“Things are positive. We believe that even if we aren’t able to reach pre-pandemic levels before the end of the year, we remain optimistic about the prospects for 2022. Moving into the second half [of the year], things will be much better,” Mr. Lim said in a virtual stockholders meeting.

In April last year, SM Prime said that it had allocated P80 billion for its 2021 capex, focusing on its mall and residential business segments, and factoring in the challenges brought about by the pandemic.

This year, the group is planning to open SM City Tuguegarao, SM City Sorsogon and SM City Tanza.

In the same meeting, SM Prime approved the declaration of a regular cash dividend of P0.097 per share, or 15% of the company’s net income in 2021, amounting to P2.801 billion to all stockholders of record as of May 11, 2022 and payable on May 24, 2022.

In 2021, the company reported a 21% increase in consolidated net income to P21.79 billion from P18.01 billion while consolidated revenues were up to P83.32 billion from P81.9 billion.

SM Prime’s residential business unit led by SM Development Corp. (SMDC) was the biggest contributor to overall revenues at 56% or P49.5 billion.

In 2021, SMDC worked on expansions in various key areas, including Manila, Las Pinas, Pasay, Parañaque, Bulacan, Laguna, and Iloilo.

“With the easing of mobility restrictions in Metro Manila, SM Prime officially opened SM City Daet in Camarines Norte, opened Mall of Asia Square, which houses the first IKEA store in the Philippines, and opened SM City Grand Central in Caloocan,” Mr. Lim said.

“SM Prime’s other businesses like hotels, offices, and business centers remained resilient in 2021,” he added.

Last year, the company also launched the Mega Tower in Mandaluyong and officially opened Park Inn by Radisson in Bacolod.

“Our joint efforts since the pandemic started have generated tremendous support with the government and private sector to collectively work to contain the spread of COVID-19 (coronavirus disease 2019),” Mr. Lim said.

Over the pandemic, the company repurposed the Mall of Asia Arena to become a swabbing location and made its hotels serve as quarantine facilities.

“Our integrated development properties served a much larger purpose, this time for the health and welfare of our Filipinos,” he added.

SM Prime also embarked on its renewable energy program in support of the Department of Energy’s goal of expanding the renewable energy component of the country’s energy mix to 35% by 2030.

“We are committed to increase the share of renewable energy in electricity consumption by up to 50% across various business segments by end-2022,” Mr. Lim said.

“Let us all continue pushing for a better tomorrow and work together and embark on a new era filled with remarkable partnerships and a safer and brighter future,” he added.

At the stock exchange, SM Prime shares were up by 0.28% or 10 centavos to finish at P36.15 on Monday. — Luisa Maria Jacinta C. Jocson

Ateneo battles red-hot Adamson; La Salle meets Far Eastern today

UNBEATEN and reigning champion Ateneo Blue Eagles - THE UAAP

By John Bryan Ulanday

RED-HOT Adamson tries to catch its biggest fish in unbeaten reigning champion Ateneo to solidify its place inside the Final Four when they tussle in the critical last week of the University Athletic Association of the Philippines (UAAP) Season 84 at the Mall of Asia Arena in Pasay City.

Game time is at 4:30 p.m. with the Soaring Falcons out to stretch their streak to five straight wins even against the mighty Blue Eagles, who are on a 37-game winning spree of their own since 2018 including an 11-0 start this season.

La Salle (7-4) and Far Eastern University (FEU) (5-6), for their parts, are out to boost their own playoff drives in the opener at 10:30 a.m. while National University (NU) (4-7) and Santo Tomas (3-8) fight for survival in the main game at 7 p.m.

Though already assured of a Final Four seat, University of the Philippines (UP) (9-2) eyes to secure the No. 2 seed against winless and also-ran University of the East (UE) (0-11) at 12:30 p.m.

With Ateneo and UP already in the playoffs while La Salle sporting an inside track at No. 3, four teams scramble for the last spot led by Adamson that is peaking at the right time to gain a grip of its own destiny in the last three matches.

Only the Blue Eagles gave a beating to the Soaring Falcons in the first phase, where they lost five games by an average of only three points before stringing four victories in a row to make a late Final Four surge.

Ateneo, which is also out to move closer to another season sweep for an automatic finals ticket that would only fortify its bid for a fourth straight UAAP crown, assures its readiness for a heavy Adamson fightback. “We always take it one game at a time and we know that Adamson is preparing for us of course, so it’s the same thing that we’ll be doing. We look forward to meeting them,” coach Tab Baldwin said.

The Bad Guys topples Fantastic Beasts 3 with $24-Million debut

The Bad Guys

LOS ANGELES — Universal’s kid-friendly caper The Bad Guys pulled off a heist for the ages, capturing the No. 1 spot at the domestic box office.

The animated comedy has collected $24 million from 4,009 North American theaters in its debut, enough to take the crown from Fantastic Beasts: The Secrets of Dumbledore. In its second weekend of release, the latest chapter in the Harry Potter prequel series plummeted to third place with $14 million, a troubling sign for the Warner Bros.’ Wizarding film franchise.

The Bad Guys may have towered over the competition, but it was not the only newcomer to movie theater marquees. The Northman, a blood-soaked Viking epic from director Robert Eggers, and The Unbearable Weight of Massive Talent, a meta comedy in which Nicolas Cage plays a fictionalized version of himself, opened in theaters nationwide to varying results. With three original movies in wide release, this weekend indicates that Hollywood does, indeed, still have new ideas — but audiences aren’t always willing to make the trek to watch them.

The Bad Guys carries a $70 million price tag, so although the Dreamworks Animation film has topped the box office, it may have to claw its way to profitability in its theatrical run. The international box office will be critical to getting into the black. Already, the movie has grossed $63 million overseas, bringing its global tally to $87.1 million. It helps that in addition to strong reviews, audiences appear to be high on the film, which secured an “A” CinemaScore from ticket buyers. Sam Rockwell, Marc Maron, Anthony Ramos, Craig Robinson, and Awkwafina lead the voice cast of The Bad Guys, which follows a crackerjack crew of animal outlaws as they attempt their most challenging con yet —  becoming model citizens.

The Northman opened in fourth place, generating $12 million from 3,865 locations. That’s a great result for an arthouse film, but alas, The Northman does not carry the budget of an arthouse film. The movie reportedly cost $90 million, though sources close to the production say the final number was closer to $70 million after factoring in tax incentives. And Focus Features, who split the cost with New Regency, did not skimp on promotional efforts. The Northman has posters with stars Alexander Skarsgard, Nicole Kidman, Anya Taylor-Joy, Ethan Hawke, Björk, and Willem Dafoe plastered in Times Square.

“Reviews are excellent, but with a budget of around $75 million, The Northman will struggle to recover costs,” said David A. Gross, who runs the movie consulting firm Franchise Entertainment Research.

The Unbearable Weight of Massive Talent, from Lionsgate, took the No. 5 spot with $7.1 million, a wobbly start given its reported $30 million budget. Directed by Tom Gormican, the wacky buddy comedy of sorts follows Cage, whose star is declining as a billionaire super fan (played by Pedro Pascal) offers him $1 million to attend a birthday party in the Maldives. When events take a turn, Cage teams up with the CIA and channels his most beloved movie characters to save his family from his biggest fan, who may be a dangerous arms dealer.

Despite stacked competition, Paramount’s family friendly sequel Sonic the Hedgehog 2 sped past Fantastic Beasts 3 and others to land in second place with $15.2 million from 3,809 venues. After three weeks in theaters, the Sonic follow-up has generated a mighty $145.8 million. The film is less than $3 million away from surpassing its predecessor’s $148 million pre-pandemic domestic box office total, though 2020’s Sonic the Hedgehog likely would have enjoyed a longer run on the big screen without COVID-19 spoiling those plans. —  Reuters

Right systems, controls seen key to data privacy rules compliance

MANAGEENGINE, a technology company, said that right systems need to be in place to ensure that the country’s data privacy policies are adhered to, amid fears that the data collected for coronavirus analysis could be later used for surveillance purposes.

“Businesses need to implement responsible data collection and processing practices to remain compliant with data privacy regulations,” Rajesh Ganesan, vice-president of product at ManageEngine, told BusinessWorld in an e-mail interview.

“Organizations need to incorporate methods to monitor and record numerous aspects of their operations, such as employee data, financial transactions, and network logs, to demonstrate conformance,” he added.

The implementing rules of the Data Privacy Act require the National Privacy Commission to manage the registration of personal data processing systems in the country. Ethical hacker Allan Jay “AJ” Dumanhug told BusinessWorld in a recent interview that many startups appear to be unaware of the law, which is why the government should penalize those that violate it, or else these lapses will persist.

“Even organizations with a strong focus on regulatory compliance struggle to keep up with the list of requirements owing to regulatory uncertainty, insufficient visibility, stringent enforcement actions, and changing technological environments,” Mr. Ganesan said.

He noted that a major concern that has emerged over the last few years is managing the large-scale collection of personal data.

“The pandemic offers a clear example of this: Contract-tracing cloud applications were… utilized to combat the coronavirus pandemic, and these store personal data that could be compromised by sophisticated cyberattacks.”

“While data analytics has played an undeniable role in studying the spread of the infection, it is imperative to monitor how organizations are processing the data collected from mobile phones, health screening apps, and more,” he also noted.

He said that the best practices for businesses to achieve compliance include forming a governance, risk, and compliance team; integrating compliance-related activities across departments; and developing compliance dashboards that show teams’ risk management and audit readiness.

Mr. Ganesan also outlined cost-effective strategies for ensuring data privacy and cybersecurity without breaking the bank, including building a robust risk management framework, training employees on regulation and compliance, and developing mechanisms for escalating regulatory and compliance issues directly to upper management. — Arjay L. Balinbin

Letran eyes Final Four twice-to-beat advantage

LETRAN Knights captain Jeo Ambohot — SYNERGY/GMA NETWORK, INC.

By Joey Villar

LETRAN guns for a twice-to-beat advantage in the Final Four as it squares off with San Sebastian College (SSC) on Tuesday in the 97th National Collegiate Athletic Association (NCAA) basketball tournament at the La Salle Greenhills Gym.

The Knights eliminated the Jose Rizal University (JRU) Bombers, 81-59, on Saturday to stretch their streak to seven and another win over the Stags in their 3 p.m. encounter would clinch them one of the two Final Four incentives.

Skipper Jeo Ambohot, who had 14 points and 12 rebounds in their recent win, knows they will be in for a tough ride against a San Sebastian team desperate to stay in the play-in race.

“Our mindset is always to play each game as if it’s a championship game and we will keep on doing it,” said the 6-7 Mr. Ambohot, who hopes to help the Muralla-based school win another championship on his final season.

The Stags absorbed a 71-62 loss to the College of St. Benilde (CSB) Blazers on Friday that sent the former into a four-way logjam at fifth to eighth spots with the Emilio Aguinaldo Generals, the Perpetual Help Altas and Arellano University (AU) Chiefs with identical 3-5 cards.

For SSC to make it through, it would need to win all their remaining two games including this one against the defending champion.

Meanwhile, No. 2 San Beda (6-1) battles No. 4 CSB (5-3) at 12 p.m.

The Lions are out to bounce back from a 68-54 defeat at the hands of No. 3 Mapua Cardinals (6-2), 68-54, on Saturday against the Blazers who are riding the crest of their emphatic triumph over the Stags.

“Tough game for us because San Beda has been kings of the NCAA this whole decade and a half, they have a great program,” said CSB coach Charles Tiu. “For us, we don’t have much to play for while they are fighting for a twice-to-beat advantage and to escape the play-in.”

“But we will try to compete with them,” he added.

Nicolas Cage is the most fascinating and exciting actor working today

Nicolas Cage in The Unbearable Weight of Massive Talent — IMDB.COM

IN Nicolas Cage’s latest film, The Unbearable Weight of Massive Talent, Cage plays a character called … Nick Cage. This meta-commentary on fame and celebrity, wrapped around a thriller plot, is full of Cage-inspired “Easter eggs” and knowing nods to the audience.

Once again, Mr. Cage reminds us that he might just be the most interesting and exciting actor working in mainstream cinema today.

As a Mr. Cage super-fan, I’ve always been struck by his prodigious work ethic (over 100 films, many shot back-to-back or concurrently); his appeal to venerated auteurs like David Lynch, Werner Herzog, and Martin Scorsese; his eclectic, quirky choices that bamboozle us; and his approach to stardom.

Take three other actors of a similar age: Mr. Cage is not Tom Cruise, whose precision-engineered career allows no risks to be taken. Nor is he Jim Carrey, whose early career blazed brightly and then faded away. Nor is he George Clooney, who has traded stardom for activism and advocacy.

Mr. Cage’s take on stardom is different: a chance to reinvent himself with each role, to try something new, to push barriers and surprise jaded viewers.

Early in his career, Mr. Cage established himself as an off-beat character actor renowned for his eccentric vocal delivery, his commitment to the Method and his ability to effortlessly pivot between genres.

In quick succession, he made Peggy Sue Got Married (1986, directed by his uncle, Francis Ford Coppola), Raising Arizona (1987), Moonstruck (1987), and Vampire’s Kiss (1988). None of these films are alike.

Co-stars were both baffled and bewildered. Some admired his verve that pushed performance to the limits. Others were dismayed at his peculiar decisions and what they saw as a “look-at-me” descent into excess and histrionics.

By 1996, with an Oscar win for Leaving Las Vegas (1995) as an alcoholic screenwriter seeking redemption, Mr. Cage had announced himself as a star.

Mr. Cage shortly became a fully-fledged ’90s action hero, with roles in The Rock (1996), Con Air (1997) and Face/Off (1997).

Watched back now, those performances seem to foreshadow Mr. Cage’s descent into self-parody, but at the time it was refreshing to see Mr. Cage play roles usually reserved for Bruce Willis or Arnold Schwarzenegger.

He was a nerdy everyman, with a lithe, fluid body. His nerdiness and ad-libbing was a refreshing antidote to the muscular action stars.

For sure, there were missteps along the way as he navigated his new-found status: the tabloid press had a field day reporting on his lavish spending. But in an era of changing modes of film distribution, audience fragmentation, and the existential demise of the film star, his presence felt both reassuring and addictive.

We looked forward to what he would do next.

But the wheels soon fell off. Mr. Cage drifted into generic video-on-demand schlock, such as Rage (2014) and The Runner (2015).

He has vigorously defended this work, but the suspicion remains he was motivated by commerce not art.

At the same time, the internet, and in particular meme and gif culture, began to work alongside Mr. Cage’s career, both undermining and reinforcing his peculiar brand of stardom.

Fan edits, memes, and YouTube mashups eventually became a source of great frustration for Mr. Cage as he struggled to reassure fans and critics alike he was a serious performer.

But this was not always backed up by his career choices or his own pronouncements on his craft. Sean Penn, his contemporary and early rival, disparagingly called him a “performer.” Mr. Cage referred to himself as a thespian, a troubadour entertaining the mob.

Most intriguing, he defined his heightened acting style as “nouveau shamanism”: a singular blend of trancelike “being” and pure Kabuki “playacting.”

For some, Mr. Cage’s ideas gloriously pointed to the new direction film acting was headed: brave, gonzo, idiosyncratic. For others, it cemented his status as a self-promoting charlatan.

So it comes as a great relief that the last five years or so have heralded a remarkable return to form for Mr. Cage.

His career was revitalized in 2018 with a quite extraordinary performance as the grieving lover turned avenging angel in Mandy. There is a scene from that film which distils Mr. Cage’s career into 60 magnificent seconds.

Sat alone in a garishly lit bathroom, he chugs a bottle of vodka, moans and mumbles and screams with grief. The “Cage Rage,” as it has become known, is there in full technicolor detail.

He followed that up with two memorably strange films: Colour Out of Space (2019) and Willy’s Wonderland (2020).

The first is a Lovecraftian tale of meteors, glowing goo, and hostile alpacas. In the latter, he plays the silent janitor of a demonically possessed funhouse.

Mr. Cage attacks both roles with typical insouciance and stoic resignation.

But best of all is Pig (2021). Here, Mr. Cage plays a grieving chef who has retreated to the Oregon wilderness with only a truffle-hunting pig for company. When the pig is kidnapped, Mr. Cage re-enters the world, intent on finding his only true companion.

Gone is the Elvis coolness of Wild At Heart (1990), the physical dexterity of National Treasure (2004) and the childlike blankness of City of Angels (1998). In Pig, Mr. Cage is bloated and bearded, wracked by grief and remorse.

It is one of his finest performances.

The Unbearable Weight of Massive Talent once more showcases Mr. Cage’s skills. He remains an intense, immersive actor whose career blends kitsch and Method commitment and who realizes that stardom — and what it means to be a movie star — has changed.

As he once famously said: “You tell me where the top is, and I’ll tell you whether or not I’m over it.”

 

Ben McCann is an Associate Professor of French Studies, University of Adelaide.

Filinvest Land to focus on middle-income housing

FILINVEST Land, Inc. announced on Monday that it will be focusing on its affordable and middle-income housing segment this year.

“We are ready to roll out more new projects in 2022 as we have already prepared complete plans and geared up our product delivery capacity to support further launches in the years ahead,” Filinvest Land Chief Strategy Officer and newly appointed President Tristaneil D. Las Marias said in a disclosure on Monday.

“The pandemic years gave us plenty of time to prepare, get our rollouts ready, and allow us to be first out of the gate for moments like now when the economy shows signs of rebound and restoration,” he added.

The real estate developer said it is also working on ensuring that its developments are sustainably designed.

“Filinvest Land projects are designed to be energy efficient, tap renewable energy sources, use sustainable building materials, and reduce construction waste. Mid-rise buildings, housing, and subdivision projects are low-density developments with broader and bigger open spaces,” the company said.

The company said that its residential developments now have detention ponds, rainwater collectors, sewage treatment plants (STP), and water recycling systems to provide an additional water source for irrigation and landscape maintenance.

The publicly listed property arm of Filinvest Development Corp. also declared a cash dividend for common shares amounting to P0.047 per share, representing a 30% payout which will be paid on June 2, 2022 for stockholders on record as of May 11, 2022.

Filinvest Development’s two other subsidiaries, EastWest Banking Corp. and real estate investment trust, Filinvest REIT Corp. (FILRT) also announced dividend declarations.

FILRT approved the dividend declaration to all stockholders amounting to P0.116 per share, its second quarterly cash dividend for the year and its fourth since its initial public offering (IPO) last year.

The amount is equivalent to an annualized yield of 6.6% or a quarterly yield of 1.65%, which is in line with the annualized dividend yield forecast for 2022 in its REIT plan based on its IPO price of P7.00 per share. The cash dividends will be payable on May 27, 2022 to stockholders on record as of May 6, 2022.

“Including FILRT assets, Filinvest Land and its subsidiaries have 780,000 square meters of office and mall gross leasable area (GLA). Our investment properties also include warehouse and land lease spaces for the logistic and e-commerce players and co-living accommodations. We target to reach 2.1 million square meters of GLA by 2026. Our vast inventory of investment properties are potential infusions to grow FILRT, which will provide opportunities for Filinvest Land to further recycle its capital,” Filinvest Land Chief Executive Officer Josephine Gotianun Yap said.

Meanwhile, EastWest Bank approved and ratified the declaration of cash dividends of P0.40 per share. The dividends, equivalent to a payout ratio of 20%, are payable on May 31, 2022 to all stockholders as of record date May 11, 2022.

“The dividend declarations are testaments of the Filinvest group’s commitment to our valued shareholders who have been with us in our journey. We are grateful for their continued support, trust and confidence. This also affirms our steadfast desire to grow and create value despite the obstacles faced during the extended pandemic period,” Ms. Gotianun-Yap said.

“With the improving business environment that we are seeing brought about by better mobility and relaxed quarantine measures, we are hopeful that 2022 will be the start of our country’s recovery as well as our businesses’ long-term growth,” she added.

Filinvest Land has built over 200 residential developments across the country, with large townships in Rizal, Cebu, and other major cities.

In 2021, the company reported a 2% increase in net income attributable to equity holders to P3.8 billion, driven by high reservation sales and continued construction progress.

Its residential business also grew 15% to P11.27 billion last year.

“We believe that this signals the recovery of the residential business as buyers are more confident of a better economy and business environment. We are optimistic that the trajectory of growth for the residential business will continue beyond 2022,” said Ms. Gotianun Yap.

At the stock exchange on Monday, Filinvest Land shares were up by P0.02 or 1.9% to P1.07 apiece. — Luisa Maria Jacinta C. Jocson

Megaworld eyes P1.9-B sales from ‘smart’ condo project

MEGAWORLD Corp. launched Herald Parksuites, its fourth residential condominium development in The Upper East Township in Bacolod City. — COMPANY HANDOUT

MEGAWORLD Corp. is looking to generate P1.9 billion in sales from its fourth residential condominium development inside The Upper East township in Bacolod City.

In a statement, Megaworld said it expects to P1.9 billion in sales revenues from the Herald Parksuites, which is scheduled to be completed by 2028.

The 12-storey Herald Parksuites offers 246 “smart home” units that are equipped with wireless smart home system and devices with WiFi router, video intercoms, and a standby power generator for a lighting fixture in the living area.

Studio units are sized up to 24 square meters (sq.m.), while studio with balcony units are up to 31.5 sq.m. There are one-bedroom units with balcony (up to 41 sq.m.), executive one-bedroom with balcony (up to 54 sq.m.), and one-bedroom loft with lanai (up to 78 sq.m.).

The biggest units are the two-bedroom units with balcony (up to 79 sq.m.) and two-bedroom loft with lanai (up to 109 sq.m.). These two-bedroom units will have kitchens with cooktop burners.

For loft-type units, the bedrooms and living rooms will have inverter split-type air-conditioning units.

“Taking inspiration from the posh apartments in New York City’s Upper East Side, this new residential tower will highlight Bacolod’s first ‘smart home’ amenities in a condominium with select loft units in generous layouts,” Jennifer Palmares-Fong, vice-president for sales and marketing forMegaworld Bacolod, said in a statement.

Herald Parksuites will have a central amenity floor that connects to the amenity floor of the adjacent tower, Two Regis. Amenities include an adult pool, children’s pool, pool lounge, pool bar, shower rooms, reading nooks, children’s playground, daycare center, and fitness center.

There is also a function room with extended outdoor area, private dining rooms and a game room.

Herald Parksuites will have its own basement parking facility, while the ground floor will have access to a retail arcade.

The tower’s “green” features include low-flow water fixtures, light sensors at hallways, rainwater harvesting and re-use facility, and material recovery facility.

Megaworld launched the first residential tower, One Regis, within The Upper East township in 2018. It was followed by Two Regis in 2019, and One Manhattan in 2020.

The listed property developer reported a 36% rise in net income attributable to equity holders to P13.4 billion in 2021, as revenues jumped by 17% to P50.8 billion. — Cathy Rose A. Garcia

Art in the Park: A celebration of book illustrations, and welcoming an NFT marketplace

Distort Monsters in action

THREE weeks after welcoming over 16,000 guests at the hybrid Art Fair Philippines, the fair’s affordable counterpart, Art in the Park, opened on April 24. Ongoing until May 1 at www.artinthepark.ph, the art fair will feature one day of physical activities on April 28 at the Jaime C. Velasquez Park in Makati City.

This year, the Art in the Park features 61 galleries, art schools, independent art spaces, art collectives, and, for the first time, an NFT (non-fungible token) marketplace. The prices for the artwork are capped at P50,000.

“We moved everything back because of the Omicron wave in January,” Art in the Park co-founder and organizer Trickie Lopa told the press in a Zoom interview on April 21.

Ms. Lopa, along with her fellow co-founders Lisa Ongpin-Periquet and Geraldine “Dindin” Araneta — all three are also the founders of Art Fair Philippines — decided to keep most of the fair online to avoid the risk of overcrowding in the park, and instead have one day onsite within the eight-day event.

ANG INK
Two of fair’s featured artists with special exhibits are Ang Ilustrador ng Kabataan (Ang INK) and Distort Monsters.

In line with their 30th anniversary, Ang INK will present a special exhibit called “INK in the Park,” with a collection of 40 artworks from various illustrators.

Artist, painter, and children’s book illustrator Jomike Tejido said that it is the first time that the group is being highlighted with a special exhibition after 16 years of participating in the art fair.

“The fair has helped us bring out our creative talents outside our usual platform as published illustrations in books and magazines for Filipino children,” Mr. Tejido told BusinessWorld in an e-mail. He noted that Art in the Park has given them the opportunity to be appreciated by art collectors and to showcase their graphic designs.

Ang INK’s special exhibition features 40 illustrators including Juno Abreu, Aldy Aguirre, Fran Alvarez, Jamie Bauza, Benedir Dasig, Jovan De Ocampo, Danielle Florendo, Liza Flores, Tin Javier, Jasmin Lacay, LD Mendoza, Arli Pagaduan, Jonathan Ranola, Mark L. Ruste, Jomike Tejido, and Ige Ochoa Trinidad.

Meanwhile, their regular booth will have 100 artworks by 16 artists. “Our regular booth has an open theme, where we showcase each of our individual styles and interests in subject matter,” Mr. Tejido said. “Visitors might be able to get a timeless piece from their favorite children’s book illustrators.”

Ang INK has 50 to 60 active members every year. “Membership is renewed annually. The roster of active members changes from year to year,” former Ang INK president Liza Flores said in an e-mail.

Over three decades, Ang INK strives “to improve the quality of work of its members, set a standard for the Filipino children’s book industry in the craft as well as business practices, expand its reach and influence in other regions of the Philippines,” Ms. Flores said, and for the Philippines to be known internationally for having diverse, imaginative and world-class illustrations for children.

In Dec. 2021, Ang INK opened its 30th year anniversary exhibit at the Ateneo Art Gallery.

DISTORT MONSTERS
The street artist Distort Monsters (real name: Miguel Antonio) bridges digital art and traditional art with “Monster Mayhem Megamash”.

Art in the Park will present 100 pieces from part two of “Monster Mayhem MegaMash,” that takes the artist’s colorful creatures in two-dimensional, three-dimensional, and digital forms, from murals to beyond NFTs (non-fungible tokens). These one-of-a-kind monsters will be available at www.artinthepark.ph as giclee prints that contain unique QR codes that when activated, will enable buyers of the prints to onboard the images as NFTs which they will also own.

Priced at P9,500, the concept of the online exhibit comes from Blindboxes, where buyers do not know which of the 100 unique prints and NFTs they have purchased until the giclee prints are delivered to them.

“One of the main goals of the Monster Mayhem [project] is to bridge my physical art into the digital world and then back again to the real world,” Mr. Antonio told the press in a Zoom interview on April 21.

Mr. Antonio said that they are offering generative NFTs which are digital art which carry design assets fed into a specific program. “Each asset or trait has a certain rarity percentage, and what the program does is it takes all those traits to assemble an image that’s totally unique,” he explained.

A live installation of 10 three-foot-high resin sculptures will complement the online exhibition of “Monster Mayhem MegaMash”. They will be on view at the Jaime Velasquez Park from April 24 to May 1.

ONLINE AND LIVE EVENTS
Complementing the online exhibits at Art in the Park are online events which will be held via Facebook Live (www.facebook.com/artintheparkph). These include the video premiere of Studio 1616’s exhibit on April 25, 5:30 p.m.; the video showing of INK STORY: 30 Years of Ang Ilustrador ng Kabataan on April 26, 5 p.m., followed by a panel discussion on the video with members of Ang INK and the Ateneo Art Gallery, at 5:30 p.m.; the video premiere of Distort Monsters’ Monster Mayhem Megamash on April 27, 5:30 p.m.; and The Platinum Series art activity for kids on April 30, 10 a.m.

Meanwhile, the following are the live events to be held on April 28 (4 to 8 p.m.) at Jaime Velasquez Park in Salcedo Village, Makati:

Distort Monsters will hold a live mural painting session starting at 3 p.m. Mr. Antonio will also discuss his Monster Mayhem MegaMash project, and how this bridges the gap between traditional art and NFTs in a talk scheduled at 5 p.m. on the same day.

Ang INK’s exhibition of new work which will be available for purchase on this day.

Studio 1616’s installation, Reflect Deflect live.

A two-hour DJ set by After the Noon Records from 6 to 8 p.m. Food and drinks will also be available at the park.

Art in the Park is organized by Philippine Art Events, Inc., for the benefit of the Museum Foundation of The Philippines and with support from Globe Platinum and Bank of The Philippine Islands.

For more information and the full schedule of activities, visit www.artinthepark.ph and follow www.facebook/artinthepark and @artintheparkph on Instagram. — Michelle Anne P. Soliman

Yuka Saso shoots 66 for joint 17th place in LA Open

FIL-JAPANESE Yuka Saso — REUTERS

FIL-JAPANESE Yuka Saso posted a strong closing round of five-under par 66 to secure a joint 17th placing in the Los Angeles Open at the Wilshire Country Club in California on Sunday.

Bouncing back from her lackluster 74 the other day, Ms. Saso gunned down four birdies in the last eight holes to highlight a hot 33-33 performance that lifted her 32 spots up in the final standings.

The 20-year-old Ms. Saso, who mixed three birdies with two bogeys in the first 10 holes, banked $18,461 (about P968,000) for this finish, which marked  a big improvement from her 56th place outing in last week’s Lotte Championship.

The 2018 Asian Games double gold medalist missed six fairways but reached 14 greens in regulation and took only 27 putts to complete her round.

Ms. Saso finished the tournament at three-under 281, falling short of a Top 10 finish by two strokes.

The reigning US Women’s Open titlist wound up 12 shots behind Japanese Nasa Hataoka, who closed out with 67 for 269 and a five-stroke win over Australian Hannah Green (274 after a final 68).

Ms. Hataoka collared her sixth LPGA Tour title a week after missing the cut in the windy Lotte event in Hawaii. — Olmin Leyba

PSC, sepak takraw group condemns the bombing of bus in Maguindanao

TERRORISM has no place in sports.

The Philippine Sports Commission (PSC) and the Pilipinas Sepak Takraw Federation, Inc. (PSTFI) condemned the recent bombing of a bus in Maguindanao that hurt several student athletes and a coach scheduled to join its national invitation tournament set in Dipolog City.

“The PSC strongly condemns this act of terrorism. There is no justification for purposely causing pain on any person, especially ones which could possibly become fatal like this bombing. This cowardly act aimed to terrorize the public included athletes among its victims whose budding athletic future are unfairly dimmed by this horrible atrocity,” said PSC chairman William Ramirez.

“We pray for the swift recovery of all the injured. Terrorism has no place in sports,” he added.

“The PSTFI strongly condemns the bombing of a bus plying the route from Cotabato City to Dipolog carrying student-athletes and coach of sepak takraw,” said PSTFI president Karen Tanchanco-Caballero in a statement.

“Our thoughts and prayers are with the victims of this unjustified attack on the innocents. Our players are just young men wanting to play sport in hopes of representing our country in the coming 12th ASEAN School Games,” she added.

Fortunately, the coach and three athletes, who would have represented the Bangsamoro Autonomous Region in Muslim Mindanao, suffered only minor injuries and mental trauma.

“All four of us are safe and John Paul Capio is stable. He sustained wounds on his feet. He is one of the hardworking athletes in our Bangsamoro Sepak Takraw Association,” said Ben Snow, the victims’ coach.

Mr. Caballero said they are now in touch with the victims and vowed to provide assistance.

“These terroristic acts have no place in sports and our sepak takraw family feels the families of the victims and that the PSTFI will reach out to them for any help we can provide,” said Mr. Caballero.

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