New vehicle sales up 27% in February

March 14, 2023 | 12:34 am

CAMPI-090323_motorcycle-lane-motorist — Vehicles are seen along Commonwealth Avenue in Quezon City. — PHILIPPINE STAR/MIGUEL DE GUZMAN

NEW VEHICLE SALES rose by 27.2% year on year in February, bolstering the industry’s hopes it can exceed pre-pandemic sales levels this year.

A joint report released by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) showed vehicle sales reached 30,905 units in February, higher than 24,304 units sold a year earlier.

“The industry demonstrated anew positive sales growth of 27.2% in February 2023 on a year-on-year basis — a clear indicator of a continuously progressing auto industry from the pandemic,” CAMPI President Rommel R. Gutierrez said in a statement.

Month on month, February vehicle sales rose by 4.8%.

In February, commercial vehicle sales increased by 29% to 23,716 units, accounting for 76.74% of the industry’s total sales. This was driven by double-digit growth in sales of light commercial vehicles that went up by 20.4% to 18,035 and Asian utility vehicles (AUVs) that rose by 84.1% to 4,896.

Sales of passenger cars jumped by 21.6% to 7,189, which made up 23.26% of total sales in February.

Month on month, sales of commercial vehicles grew by 7.8%, while passenger car sales declined by 4.22%.

For the first two months of the year, vehicle sales went up by 34% year on year to 60,404 units.

Commercial vehicle sales rose by 37% to 45,709, led by strong demand for light commercial vehicles (up by 29% to 34,792) and AUVs (up by 85.5% to 9,483 units).

Passenger car sales jumped by 25.6% to 14,695 in the January-to-February period.

As of end-February, Toyota Motor Philippines Corp. led all car manufacturers in terms of sales with 28,299 units sold, equivalent to a 46.85% market share.

Mitsubishi Motors Philippines Corp. ranked second with 10,656 units sold for a 17.64% market share, followed by Ford Motor Co. Phils., Inc. with 4,171 units (6.91%), Nissan Philippines, Inc. with 3,535 units (5.85%), and Suzuki Phils., Inc. with 2,939 units (4.87%).

Mr. Gutierrez said CAMPI and TMA members aim to sell 395,000 units this year, 12% higher than the 352,596 units sold in 2022.

“Members of CAMPI and TMA remain optimistic that sales will further grow by 10% to 15%, heading towards the 395,000-unit sales mark this 2023 from the actual sales of 352,596 units recorded last year,” Mr. Gutierrez said.

“Various economic favorable indicators are prevailing, improving the overall outlook of the economy alongside increasing consumer demand for new motor vehicles,” he added.

If the 2023 sales target is met, it would surpass the 369,941 units sold by CAMPI-TMA members in 2019.

This would also be the second-highest ever sales for CAMPI-TMA, since the 425,673 units sold in 2019 or a year before the implementation of Republic Act No. 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) law.

The law increased excise tax rates on automobiles to generate more revenues for the government. However, the law also exempted electric vehicles and pickup trucks.

There are concerns that vehicle sales could take a hit if the government pushes through with the lifting of the excise tax exemption for pickup trucks.

In November, the House of Representatives approved House Bill No. 4339 or the fourth package of the Comprehensive Tax Reform Package program on third and final reading, which includes the removal of the excise tax exemption enjoyed by pickup trucks.

The exemption on pickup trucks was included in the TRAIN law as part of state efforts to help small business owners and professionals.

Total auto industry sales are forecast to hit 408,300 units this year. These include sales from CAMPI and TMA members, as well as Association of Vehicle Importers and Distributors exclusive members and MG Motors Phils.

The sales projection is 10.4% higher than the 369,981 units sold by the auto industry in 2022. — Revin Mikhael D. Ochave

More Fed hikes may put pressure on peso

March 14, 2023 | 12:33 am

USA FED — The seal for the Board of Governors of the Federal Reserve System is on display in Washington, DC, U.S. on June 14, 2017. — REUTERS/JOSHUA ROBERTS/FILE PHOTO

By Keisha B. Ta-asan, Reporter

FURTHER TIGHTENING by the US Federal Reserve may put pressure on the Philippine peso and cause potential fund outflows in the coming months, analysts said, adding that more rate hikes from the Bangko Sentral ng Pilipinas (BSP) could help cushion the blow.

US Federal Reserve Chairman Jerome H. Powell last week said the US central bank would likely raise interest rates more than expected to control inflation. This led market players to speculate that the terminal rate might peak at 6% this year.

“This will likely place pressure on the peso and other currencies. This is because of yield differentials compared with the US,” MUFG Senior Currency Analyst Jeff Ng said in an e-mail.

He said the US 10-year yields are higher than Malaysia’s and Thailand’s, causing some currency depreciation for both countries in the past weeks.

“Although we see potential fund outflows in the near term, we eventually expect the Fed to turn neutral. This will help to reverse some dollar strength,” Mr. Ng said.

The US Federal Reserve has increased the Fed fund rate by 450 basis points (bps) since March last year, bringing rates to 4.5-4.75%. The Fed’s next policy review is scheduled for March 21 and 22.

Further rate increases by the Philippine central bank to tame elevated inflation might help limit the yield differentials between the country and the US, Mr. Ng said.

“Given these, we expect the BSP to hike to at least 6.5% in 2023, with some chance of more rate hikes in the coming months,” Mr. Ng said.

Last month, the BSP raised its key policy rate by 50 bps to 6% — the highest in nearly 16 years. It has raised rates by 400 bps since May 2022.

Inflation is expected to remain elevated this year, with the BSP projecting a full-year average of 6.1%.

“Our constructive view on the peso against the dollar in the second half of the year has remained premised on the theme of normalization, after imbalances in the previous year,” Mr. Ng said.

He said the local currency might move within the P54-to-P55 against the dollar this year.

China Banking Corp. Chief Economist Domini S. Velasquez said the Fed would likely move up its terminal rate projection.

“However, we currently have a 125-bp rate differential with the Fed, and it will remain sufficient to stabilize the peso,” she said in a Viber message.

The Fed’s aggressive monetary tightening since last year has caused volatility across foreign exchange markets globally, bringing the peso to its record low of P59 against the dollar in October 2022.

The peso has since rebounded, closing at P54.93 on Monday, 24 centavos higher than its previous finish, Bankers Association of the Philippines data showed.

Ms. Velasquez said the “sweet spot” in 2022 was a 100-bp rate differential between the BSP and Fed, and investor sentiment has improved since then.

“This year, at the end of central banks’ tightening cycle, we expect some ‘risk on’ sentiment which will partly mitigate the rise of the dollar. We do not see a return of the P59-a-dollar anymore this year even with a more hawkish Fed,” she said.

However, the country’s foreign exchange market might still experience market volatilities, as the peso is likely to weaken to as low as P57 versus the greenback this year, she added.

Moody’s Analytics Senior Economist Katrina Ell said the peso has held up relatively well against the strong dollar despite elevated inflation, ensuring the BSP will continue to hike rates for a few more months.

“This comes against a backdrop of some other economies in the region being near or close to the end of their tightening cycles,” Ms. Ell said in an e-mail.

Inflation eased for the first time in six months as it slowed to 8.6% in February from 8.7% in January. For the first two months of the year, inflation averaged 8.6%, higher than the BSP’s 6.1% forecast.

“The BSP can’t do much unless it follows the interest rate hike of the Fed. Companies that have US debt will be affected since they will be paying higher interest,” Mercantile Securities Corp. Head Trader Jeff Radley C. See said.

Regina Capital Development Corp. Head of Sales Luis A. Limlingan said there is less pressure for the BSP to raise rates due to the latest inflation report.

“So long as the peso remains within a reasonable range, the BSP will at most match the Fed, while trying to keep rates from staying elevated for long. Even if inflation control is the primary goal of the BSP, a weaker peso is also linked because this is tied to import costs,” he said.

However, First Metro Investment Corp. Head of Research Cristina S. Ulang said the US central bank is unlikely to remain hawkish amid the sudden collapse of Silicon Valley Bank (SVB).

Last week, California banking regulators shut down the bank and seized its deposits, marking the largest US banking failure since the 2008 global financial crisis.

This might also prompt slower rate hikes by the Fed if not a pause, Ms. Ulang said.

“Consequently, the pressure on BSP to hike rates won’t be as much prior to the SVB closure,” she added.

Marcos: Systems vs cyberattacks on energy infrastructure needed

March 14, 2023 | 12:32 am

Broken Ethernet cable-Cybersecurity — A broken ethernet cable is seen in front of binary code and words “cyber security” in this illustration taken on March 8, 2022. — REUTERS

THE GOVERNMENT needs to develop systems to deter possible cyberattacks on the Philippines’ energy infrastructure, President Ferdinand R. Marcos, Jr. said on Monday.

“We are continuing to shore up our defenses when it comes to cybersecurity,” Mr. Marcos said in a speech in Malacañang after the National Intelligence Coordinating Agency (NICA) and National Grid Corp. of the Philippines (NGCP) signed a deal to boost cybersecurity.

“Since NGCP is a critical part of our security, of our ability to continue to function as a society, then this is an important day because now we have made more robust the defenses against any possible attacks on our power systems, on any other elements in our everyday lives that require power,” he said.

Under the deal, the NGCP will share “vital information” on energy-related security issues and provide technical advice to the NICA, which is tasked to recommend actions in safeguarding the grid agency’s transmission assets.

Mr. Marcos said there have been fears that the involvement of any foreign entity in the power transmission system “would present a security threat to the Philippines.”

The partnership between NGCP and NICA is a “very good step towards answering that challenge,” he said.

The State Grid Corp. of China has had a 40% stake in NGCP since 2008, which has raised fears of possible Chinese interference in the country’s energy infrastructure.

In February 2020, Filipino senators expressed concern that the Philippines’ national security might have been compromised after an NGCP official disclosed that their system had been attacked “a hundred times already in just the past few weeks.”

Senator Ana Theresia “Risa” Hontiveros warned at the time that the Chinese could switch off the grid any time. She said China may not even need to hack into the Philippine’s transmission grid to remotely disable it given that the supervisory control and data acquisition network used to control the NGCP’s power transmission facilities is supplied by NARI Group Corp., which is also a Chinese state-owned entity.

Meanwhile, Mr. Marcos compared the conflicts caused by the industrial revolution to the problems that the world faces today due to digital technologies.

“For example, in the early 20^th century in the First World War, industry was labor intensive. Hence, trench warfare,” he said. “And in the Second World War, we had industrialized our businesses, and hence, it was machinery and the production of airplanes and tanks that won the war. And now, we do our business through cyberspace.”

Mr. Marcos said the government is now “developing our cyber systems so that we are secure and so that the data that we need to collect and to disseminate are available to us.”

Boosting the country’s cybersecurity systems would also “ensure that we are able to do and handle data in a secure fashion without the risk of it being used somehow against the Philippines.”

“Let this be an example to all the other sectors that could be assessed to be at risk when it comes to cybersecurity,” Mr. Marcos said. “It is a good example for the rest of our infrastructure, and I talk about hard and soft infrastructure.”

The Marcos administration seeks to boost investments in the Philippine energy sector to attract more foreign investors.

In January, Energy Secretary Raphael P.M. Lotilla told Chinese investors the Philippine government was prioritizing the integration of renewable sources of energy into the country’s power system. — Kyle Aristophere T. Atienza

Foreign chambers push for air transport reform legislation

March 14, 2023 | 12:31 am

NAIA-airport-passengers — PHILIPPINE STAR/MIGUEL DE GUZMAN

MEMBERS of the Joint Foreign Chambers (JFC) urged Congress to approve a much needed air transport reform bill, after technical glitches hit the country’s main international gateway earlier this year.

“The members of the JFC — with other industry associations such as the Safe Travel Alliance, Air Carriers Association of the Philippines and the International Air Transport Association — have long advocated for these reforms and we are optimistic that with congressional, executive, and private sector support, we will finally see their enactment in the 19^th Congress,” the business groups said in a statement.

The JFC made the statement after the release of Senate Committee Report No. 39 on the air traffic management glitch at the Ninoy Aquino International Airport (NAIA) in January that caused the shutdown of Philippine airspace and the cancellation of hundreds of flights.

The Senate Committee on Public Services recommended amendments to the Civil Aviation Authority of the Philippines (CAAP) charter to strengthen the agency and address its conflicting functions as a regulator, operator and investigator. It also called for the passage of measures creating the Philippine Transportation Safety Board (PTSB) and the Philippine Airports Authority.

“The incident at the NAIA, and the disruption it caused to air transportation throughout the country, is a strong reminder of the need to pass laws to institute structural reforms in the air transport sector,” the JFC said.

Senator Mary Grace S. Poe-Llamanzares, who heads the Senate Public Services Committee, has said sabotage and cyberattacks were not the reasons behind the CAAP glitch that caused flight cancellations and left thousands of Filipinos and foreign tourists stranded.

“The Jan. 1 systems failure was indeed a confluence of factors and errors. Experts likened it to the planets aligning albeit with an unfortunate consequence. It’s rare but we know it can happen, and it will continue to happen if we don’t do anything about the problems of the air traffic system in the country,” she said in a statement.

The JFC once again pressed the Senate and House of Representatives to hold public hearings on the proposed creation of the PTSB.

“Senate and House Bills have already been filed and are pending in both chambers, with Senate Bill No. 1121 creating the PTSB sponsored for plenary approval by Senator Poe on March 7. We urge relevant committees in both chambers to conduct public hearings on the bills pending at the committee level and for the Senate to commence deliberation on Senate Bill No. 1121 at the soonest possible time,” the JFC said.

The JFC statement was approved by the American Chamber of Commerce of the Philippines, Australian-New Zealand Chamber of Commerce of the Philippines, Canadian Chamber of Commerce of the Philippines, European Chamber of Commerce of the Philippines, Japanese Chamber of Commerce and Industry of the Philippines, Inc., Korean Chamber of Commerce of the Philippines, Inc. and Philippine Association of Multinational Companies Regional Headquarters, Inc. — Revin Mikhael D. Ochave

ACEN, US firm BrightNight tie up for energy projects in India

March 14, 2023 | 12:08 am

AYALA-LED ACEN Corp. has partnered with US-based renewable power company BrightNight LLC to develop and operate large-scale 1.2-gigawatt (GW) hybrid renewable energy projects in India.

“With this partnership, we are significantly strengthening our foothold in India’s fast-growing market as we shift from pure solar play to multi-technology renewables,” Patrice R. Clausse, chief executive officer of ACEN International, said in a media release on Monday.

The listed energy platform said it is aiming to deploy $250 million equity and related performance guarantees to back up BrightNight’s existing portfolio and future growth.

ACEN said its units, ACEN Renewables International and ACEN International, will help accelerate the construction of BrightNight’s existing 1.2-GW hybrid portfolio in India, including a 100-megawatt (MW) wind-solar project in the Indian state Maharashtra.

“ACEN is one of the largest and most respected renewables investors in Asia Pacific, and we are honored that they have chosen to work with us,” Martin Hermann, chief executive officer of BrightNight, said.

ACEN said the hybrid projects will be operational 24/7, with calibrated use of storage technologies.

“They have demonstrated success in scaling and operating large fleets of renewable assets through strategic partnerships across the region, and we have a shared vision on delivering what the India market requires: dispatchable, reliable, and affordable clean power,” Mr. Hermann added.

ACEN together with its partners owns a solar farm portfolio of 630-MW direct current (MWdc) or 450-MW alternating current (MWac) of operating projects and under-construction assets in India.

“BrightNight, meanwhile, brings its advanced India portfolio, experienced local team, and differentiated capabilities to develop and optimize large-scale, multi-technology hybrid renewable power plants,” ACEN said.

The renewable energy company said working with BrightNight will accelerate the energy transition in India.

BrightNight is said to be developing a 23-GW portfolio across the US and Asia Pacific, including India, Australia, the Philippines, and Bangladesh.

Listed energy company ACEN has been ramping up the expansion of its renewable energy portfolio. Last year, it spent around P50.6 billion as capital expenditure for the construction of 1,300 MW in new solar and wind farms in the Philippines, Australia, and India.

ACEN said it has more than 2,400 MW of projects under construction and that it is expecting around P50 billion to P70 billion in capital spending in 2023 to expand its renewable energy portfolio.

ACEN is targeting to reach a renewable energy capacity of 20 GW by 2030. It now has about 4,000 MW of attributable capacity from projects in the Philippines, Vietnam, Indonesia, India, and Australia. Up to 98% of the installed capacity is renewables.

On Monday, shares in the company slipped by P0.11 or 1.78% to close at P6.08 each on the stock exchange. — Ashley Erika O. Jose

Ginebra San Miguel net income up 9% to P4.5B

March 14, 2023 | 12:07 am

GINEBRA San Miguel, Inc. (GSMI) has posted a 9% growth in net income to P4.5 billion in 2022 due to a higher volume of sales, the alcoholic beverage manufacturer told the stock exchange on Monday.

In a disclosure, the listed subsidiary of conglomerate San Miguel Corp. described last year’s profit as “a new record,” which it managed to achieve despite global supply chain disruptions, high inflation, and a weak peso.

“GSMI is one of the few companies that continued to grow despite the challenges of the past years. This is genuine proof of the company’s strength and true resiliency,” said Ramon S. Ang, its president and chief executive officer.

Consolidated sales last year grew by 11% to P47.3 billion compared with the level in the previous year because of volume growth and higher selling prices, the company said.

Income from operations reached P6 billion, which is 13% higher than that of the previous year.

“Strong brand equity, relevant campaigns, and a continuous push to expand distribution coverage in new markets enabled GSMI to sustain its volume ascent and remain the market leader in the hard liquor category,” the company said.

Total volume growth went up to 7% across various products, which “boosted the company’s bottom line.”

Its products Ginebra San Miguel, Vino Kulafu, and its Gin offerings also saw substantial growth for the year, the company said.

Meanwhile, the company’s board of directors approved the declaration of P0.75 in regular cash dividends and P1.75 in special cash dividends on common shares for shareholders as of March 24.

GSMI shares on Monday dropped by 3.33% at P5 to close at P145 apiece. — Adrian H. Halili

SEC warns against two unlicensed investment-taking entities

March 14, 2023 | 12:06 am

THE Securities and Exchange Commission (SEC) has warned the public against putting money in two investment-taking entities, which have not secured a license to offer shares.

In separate advisories, the SEC identified these entities as S&C Shamai Cloverleaf Group of Companies, Inc. and Camacho Trading.

The advisory stated that S&C Shaimai has been enticing the public on social media and online to invest in the company for a minimum of P10,000, which is said to earn 10% to 25% in interest after 30 to 45 days.

S&C Shaimai is comprised of several entities: Shaimai Best Food Hub, Shaimai Burger, Shaimai Best Pizza, Clover Leaf Realty Development, Clover Leaf Administration of Financial Marketing, Broom Broom Express, and Shaimai Tech Computer Trading.

Additionally, Broom Broom Express, a delivery service, is enticing the public to invest while guaranteeing 25% interest for a minimum amount of P89,000.

Meanwhile, Camacho Trading allegedly deals in supplying Korean newspapers to use as packaging supplies for vegetables, fruits, dried fish, and flowers, among others.

The entity promises investors a 10% return on investment per month. Its online posts claim that an initial investment of P50,000 may net a would-be investor up to P5,000 for the first six months then a return on the initial investment on the seventh.

In its review, the commission stated that both entities are not authorized to solicit investments from the public. — Adrian H. Halili

SM Investments ready to take public shares in 2GO for P5.55 billion

March 14, 2023 | 12:05 am

SY-LED SM Investments Corp. has set aside about P5.55 billion to fully accept shares in 2GO Group, Inc. in a tender offer that will begin on March 15, both companies disclosed to the stock market on Monday.

The tender offer shares, priced at P14.64 each, amount to 378,817,279 common shares and account for 15.39% of the issued and outstanding capital stock of 2GO.

The offer price went through an independent third-party fairness opinion by BPI Capital Corp. as the independent third-party valuation provider. BDO Securities Corp. was tapped as the tender offer agent.

SM Investments’ tender offer period is set to start on March 15 at 9:00 a.m. and end at 3:00 p.m. on April 28, unless extended by the company with approval from the Securities and Exchange Commission.

During the tender offer period, tendering stockholders of the company may offer a portion or all their common shares in 2GO to be accepted and sold to SM Investments.

While the period remains open, shareholders who have previously tendered shares are allowed to withdraw their shares at any time.

“Expectation is for many shareholders to partake in tender offer since the price was around double of what it was trading prior to the announcement,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

During the voluntary delisting of 2GO on the main board of the Philippine Stock Exchange, its shares were trading at P14.24 apiece, or higher by 56.5% than the P9.10 closing price before the tender offer announcement.

“Value turnover was rapidly increased as well,” Mr. Limlingan added.

“For sure everyone will be tendering their shares since SM wants to make 2GO private, 15% is the remaining public float. It is just a small chunk that SM can easily buy,” said Mercantile Securities Corp. Head Trader Jeff Radley C. See in a Viber message.

SM Investments has said that the tender offer was meant to delist 2GO shares from the stock exchange’s main board. It currently owns 52.88% of 2GO, while Trident Investments Holdings Pte. Ltd. holds 31.72%.

Mr. See also said that a large number of stakeholders are likely to tender their 2GO shares as these might not be easily sellable once the company becomes private.

On the local bourse on Monday, shares in SM Investments were unchanged at P875 apiece. — Adrian H. Halili

Cebu Pacific aims to boost demand for Singapore travel

March 14, 2023 | 12:04 am

CEBU PACIFIC said on Monday it will add a Clark-Singapore route to its existing Singapore-bound routes from Manila, Cebu and Davao, and boost demand by offering free travel programs in partnership with Singapore Tourism Board (STB).

“In anticipation of summer, peak travel season, we now have four cities with direct accessibility to Singapore. We’re quite optimistic for the market for these flights,” said Michelle Eve A. de Guzman, Cebu Pacific’s marketing director, at a press briefing on Monday.

Starting end of March, flights will increase to four times weekly from Davao and daily from Cebu, while daily flights from Clark will be launched starting April 28.

“The frequency of our Manila-Singapore route, flying three times a day, is almost back to pre-pandemic numbers. This really contributes to the accessibility of Singapore for Filipinos,” Ms. de Guzman added.

To boost demand, STB’s rewards program SingapoRewards will offer one of 40 complimentary itineraries or experiences to every international short-term visitor who arrives by air throughout 2023.

The experiences will take tourists to lesser-known places such as the Brass Lion Distillery and the S.E.A. Aquarium, and unique adventures such as the Bugis, Waterloo, and Kampong Gelam Instagram walking tour.

Juliana Kua, STB’s assistant chief executive, said that Singapore got 6.3 million tourists in 2022, which they aim to increase to 12-14 million this year.

“As for the Philippine market, which has always been a strong one for us, we’re hoping it will at least double for 2023, whether it’s their first time or repeat visits where they discover sides of Singapore they never knew about before,” she told BusinessWorld.

The SingapoRewards program was piloted in Australia, India, and Indonesia from October 2022 to March 2023 and is now available globally.

Because of the budget carrier’s increase in flights and STB’s rewards program, Cebu Pacific is confident that Filipinos can “extract value from the entire Singapore travel experience,” according to Candice Iyog, Cebu Pacific’s customer experience officer.

“When we announce additional capacity, we intend for it to stay that way. It will depend on the market, but we’re optimistic that Filipinos will respond well to these travel opportunities,” she said at the briefing.

SingapoRewards can be redeemed and booked through the VisitSingapore app and website. — Brontë H. Lacsamana

Offbeat multiverse movie Everything Everywhere dominates the Oscars

March 14, 2023 | 12:04 am

DANIEL KWAN, Daniel Scheinert and Jonathan Wang win the Oscar for Best Picture for Everything Everywhere All at Once during the Oscars show at the 95th Academy Awards in Hollywood, Los Angeles, California, US, March 12, 2023. — REUTERS/CARLOS BARRIA

Michelle Yeoh becomes first Asian Best Actress Oscar winner

LOS ANGELES — Everything Everywhere All at Once won the coveted best picture trophy at the Academy Awards on Sunday as Hollywood embraced an off-kilter story about a Chinese-American family working out their problems across multiple dimensions.

The movie claimed seven awards overall, including three of the four acting Oscars for stars Michelle Yeoh, Ke Huy Quan, and Jamie Lee Curtis. Ms. Yeoh played the lead role of a stressed-out laundromat owner who finds she has superpowers in alternate universes.

Everything Everywhere was an improbable winner as a film that strayed far from traditional storytelling to spin a tale about a family at odds. The kung fu adventure was filled with oddities such as people with hot dogs for fingers and a chef with a raccoon under his hat. Plastic googly eyes and a giant everything bagel also played important roles.

Ms. Yeoh was widely regarded as the front-runner for the award after claiming a Screen Actors Guild honor and a Golden Globe award for the role. This was her first Oscar nomination.

“For all the little boys and girls who look like me watching tonight, this is a beacon of hope and possibilities,” the 60-year-old Malaysian actress said on stage. “And ladies, don’t let anybody ever tell you you are ever past your prime.”

Ms. Yeoh got her start in Hong Kong action movies in the 1990s and broke through in Hollywood when she was cast as the first ethnic Chinese Bond girl in 1997’s Tomorrow Never Dies opposite Pierce Brosnan.

Since then, she has enjoyed success in a range of genres, solidifying her reputation as both a big-budget action star and formidable acting talent.

Her best-known films include Ang Lee’s 2000 martial arts movie Crouching Tiger Hidden Dragon, the 2005 period drama Memoirs of a Geisha, and the 2018 romantic comedy Crazy Rich Asians.

Mr. Quan, a onetime child star who gave up acting for two decades, won best supporting actor for his portrayal of Ms. Yeoh’s disgruntled husband in a family grappling with a tax audit that threatens their business.

A weeping Mr. Quan, who was born in Vietnam, kissed his gold Oscar statuette as he held it on stage in front of the biggest names in show business.

“My journey started on a boat,” Mr. Quan said. “I spent a year in a refugee camp. Somehow I ended up here on Hollywood’s biggest stage.”

As a boy, Mr. Quan starred in a 1984 Indiana Jones movie and The Goonies in 1985. The 51-year-old said he had quit acting for years because he saw little opportunity for Asian actors on the big screen.

“They say stories like this only happen in the movies,” he added. “I cannot believe it’s happening to me. This is the American dream.”

Ms. Curtis, who built a career in horror films such as Halloween, won best supporting actress for playing a frumpy tax agent named Deirdre Beaubeirdre.

The 64-year-old Curtis looked upward and addressed her late parents, Academy award nominees Tony Curtis and Janet Leigh. “I just won an Oscar,” she said through tears.

The Whale star Brendan Fraser, known for 1990s roles such as The Mummy and Encino Man, won best actor for playing a severely obese man trying to reconnect with his daughter.

A German remake of World War I epic All Quiet on the Western Front was named best international feature. The movie, which streamed on Netflix, depicts the horrors of trench warfare through the eyes of a young man initially keen to join the fight. It won four Oscars, second highest after Everything Everywhere All At Once.

Director Edward Berger thanked the film’s young star, Felix Kammerer, who joined him on stage.

“This was your first movie, and you carried us on your shoulders as if it was nothing,” Mr. Berger said.

Navalny, about the poisoning that nearly killed Alexei Navalny, Russia’s most prominent opposition leader, and his detention since his 2021 return to Moscow, won the Oscar for best feature documentary.

“Alexei, I am dreaming of the day when you will be free and our country will be free,” his wife, Yulia Navalnaya, said on stage. “Stay strong my love.”

“Naatu Naatu,” a song from the Indian movie RRR that created a viral dance sensation, was honored as best original song.

Independent studio A24, which released Everything Everywhere All At Once and The Whale, claimed nine awards, more than any other studio.

CRISIS RESPONSE TEAM ON HAND
A crisis response team was on hand in case of an unexpected twist. The group was formed after Will Smith smacked Chris Rock on stage last year, tarnishing the film industry’s most prestigious ceremony.

At the start of the show, two US military aircraft flew over the Oscars theater, and host Jimmy Kimmel landed on the stage by parachute, in a tribute to best picture nominee Top Gun: Maverick.

Comedian Mr. Kimmel joked in his opening monologue about the audience reaction to Mr. Smith’s attack last year.

“If anything unpredictable or violent happens at the ceremony, just do what you did last year — nothing,” he told the crowd of A-list celebrities. “Maybe give the assailant a hug.”

Guillermo del Toro’s Pinocchio was named best animated feature.

Ahead of the awards, nominees dressed in designer gowns and tuxedos touted their movies on a champagne carpet in place of the traditional red.

Winners are voted on by the roughly 10,000 actors, producers, directors and film craftspeople who make up the film academy. — Reuters

The winners at the 2023 Oscars

MICHELLE YEOH wins the Oscar for Best Actress for Everything Everywhere All at Once during the Oscars show at the 95th Academy Awards in Hollywood, Los Angeles, California, US, March 12, 2023. — REUTERS/CARLOS BARRIA

LOS ANGELES — The 95^th Academy Awards took place at a ceremony in Los Angeles on Sunday. The following is the full list of 2023 Oscar winners:

BEST PICTURE: Everything Everywhere All at Once

BEST DIRECTOR: Daniel Kwan and Daniel Scheinert, Everything Everywhere All at Once

BEST ACTRESS: Michelle Yeoh, Everything Everywhere All at Once

BEST ACTOR: Brendan Fraser, The Whale

BEST SUPPORTING ACTOR: Ke Huy Quan, Everything Everywhere All at Once

BEST SUPPORTING ACTRESS: Jamie Lee Curtis, Everything Everywhere All at Once

BEST INTERNATIONAL FEATURE FILM: All Quiet on the Western Front, Germany

BEST ANIMATED FEATURE FILM: Guillermo del Toro’s Pinocchio

BEST DOCUMENTARY FEATURE FILM: Navalny

DOCUMENTARY SHORT FILM: The Elephant Whisperers

SHORT FILM, LIVE ACTION: An Irish Goodbye

SHORT FILM, ANIMATED: The Boy, the Mole, the Fox and the Horse

BEST ORIGINAL SCREENPLAY: Everything Everywhere All at Once, written by Daniel Kwan and Daniel Scheinert

BEST ADAPTED SCREENPLAY: Women Talking, screenplay by Sarah Polley

BEST ORIGINAL SCORE: All Quiet on the Western Front, Volker Bertelmann

BEST ORIGINAL SONG: “Naatu Naatu,” from RRR, music by M.M. Keeravaani; lyrics by Chandrabose

CINEMATOGRAPHY: All Quiet On The Western Front, James Friend

FILM EDITING: Everything Everywhere All at Once

VISUAL EFFECTS: Avatar: The Way of Water

SOUND: Top Gun: Maverick

PRODUCTION DESIGN: All Quiet On The Western Front

COSTUME DESIGN: Black Panther: Wakanda Forever, Ruth Carter

MAKEUP AND HAIRSTYLING: The Whale

Alsons to develop Avia Estate township in Sarangani capital

March 14, 2023 | 12:04 am

By Marifi S. Jara, Mindanao Bureau Chief

ALSONS Development and Investment Corp. (Alsons Dev) is investing an initial P1 billion to develop a township in Sarangani, its first real estate venture out of Davao City where it has built high- and upper mid-range residential and commercial projects over the last 60 years.

The planned community called Avia Estate will occupy a 121-hectare property in Alabel, the capital of Sarangani province in southern Philippines. It will be along the highway that leads to beach destinations in Sarangani Bay.

Development is underway for the first 32 hectares that will have single-detached homes in the Narra Park Residences, a commercial center, parks and open spaces, community amenities, a branch of the Abba Orchards School, and a public safety complex that will house police and fire stations.

The 1.2-kilometer frontage of the complex is also planned to be a commercial strip.

“Sarangani has always been a valued region to the Alcantara family because we believe in its potential for growth and development,” Alsons Dev Director Miguel A. Dominguez said during the Avia Estate launch on March 10.

The diversified Alcantara Group’s aquaculture and agribusiness ventures are mainly located in Sarangani.

“We want to be part of that growth, and we are committed to helping lead Mindanao’s progress by creating a new lifestyle destination that will serve as a growth hub and create more opportunities for the people residing here,” said Mr. Dominguez, who served as one of the youngest governors of the province for three terms in 2004-2013.

Jolla A. Soriaga, assistant general manager for Alsons Dev’s Business Units Group, said during the launch that they target to start turning over residential units by late 2025.

For the commercial segments, Ms. Soriaga said negotiations are ongoing for locators and partners, and shops could open as early as end-2023.

Alsons Dev’s partners in its Davao City projects include CityMall Commercial Centers, Inc.

‘TABULA RASA’
Architect and urban planner Paulo G. Alcazaren, who led in designing the estate, said the project is what planners consider a “tabula rasa.”

It’s a “blank slate,” he said, “unencumbered by the usual developer problems of unsuitable and uncooperative neighbors, unsupportive local governments, contested boundaries.”

Mr. Alcazaren also said that since Alabel — which is adjacent to the commercial center General Santos City — and Sarangani are not yet highly urbanized areas, they have the opportunity to learn and avoid the mistakes of the Philippines’ urban hubs.

“This is the opportunity for areas other than Manila to show how to do it (urbanization) correctly,” he said.

Alabel Mayor Vic Paul M. Salarda, for his part, said the local government has continuously been pursuing policies on ease of doing business, recognizing that good governance is key to attracting investors such as Alsons.

“I thank the Alcantara group for seeing the possibilities of our town,” he said.

“We are confident that this partnership will lead to many opportunities that will improve the lives of our residents and put Alabel on the map as a dynamic growth hub in Sarangani,” the mayor said.

Sarangani is part of the Soccsksargen Region composed of the provinces of South Cotabato, Cotabato, Sultan Kudarat, and Sarangani, and General Santos City.

AirAsia posts 95% increase in sold seats for March travel

March 14, 2023 | 12:03 am

AIRASIA Philippines said that it saw a 95% increase in the number of seats sold to guests traveling in the month of March to 475,000 from a year ago driven by its competitive pricing.

“AirAsia’s competitive pricing is still seen as among the top motivators for guests choosing to fly with us,” AirAsia Philippines Communications and Public Affairs Country Head Steve F. Dailisan said in a press release.

“Our effort of mounting different online and on-ground travel promos is our way of providing the best value for our guests’ hard-earned money,” he added.

For the budget carrier, the top destinations booked during the period are Cebu, Boracay, Tacloban, Taipei, Bangkok, and Seoul.

Meanwhile, the airline will be offering another round of “P1SO” seat sale, which its customers can book from March 13 to March 19.

Through the promo, AirAsia guests can enjoy a peso one-way base fare to Boracay, Bohol, Puerto Princesa, Bacolod, Davao, Kalibo, Cagayan de Oro, and Roxas from Manila; and Boracay, Puerto Princesa, Davao, and Cagayan de Oro from Cebu-Mactan International Airport.

Meanwhile, AirAsia guests may book for P511 to P2,811 international destinations such as Macao, Taipei, Bangkok, Bali, Tokyo, and Osaka for travels from Sept. 4, 2023 to Aug. 13, 2024.

“We advise our guests to plan ahead and book their flights earlier to enjoy affordable rates. We also invite our guests to regularly visit our website and download the airasia SuperApp for exciting deals on hotels and activities,” Mr. Dailisan said. — Justine Irish D. Tabile