‘The Golden Year of PHL Sports’

December 30, 2021 | 12:03 am

Says POC president Tolentino of year 2021

FOR PHILIPPINE Olympic Committee (POC) president Abraham Tolentino, the country’s breakthrough performance in the Tokyo Games last August opened doors for the country to produce more golden moments in future editions.

“Yes, the Filipino athlete can win in the Olympics. Yes, we have the capability and we will build on that success,” said Mr. Tolentino.

The optimism came after weightlifter Hidilyn Diaz delivered the country’s first Olympic gold medal in Tokyo where she had a total lift of 224 kilograms — 97kgs in the snatch and 127kgs in clean and jerk.

It capped what had become the country’s best finish in the history of its Olympic participation as boxers Nesthy Petecio, Carlo Paalam and Eumir Marcial snared a pair of silvers and a bronze, respectively, to add to the massive haul.

“This is a year of congratulations for all of us — for breaking several milestones in our sports,” said Mr. Tolentino. “The perfect description for this year is The Golden Year of Philippine Sports.”

It was made memorable that it happened amid the challenges posed by the COVID-19 pandemic.

“The year 2021 saw us attain multiple medals highlighted by that elusive gold in the Tokyo Olympics,” Mr. Tolentino said.

“The Covid-19 pandemic may have slowed us down, but the ever resilient Filipinos have again proven that we rise against the odds.”

Aside from the Tokyo medallists, the congressman from Tagaytay sees medal prospects in other Olympians.

“Although the rest on Team Philippines didn’t win a medal in Tokyo, their determination and their youth make them strong candidates when we return to the Olympic stage in Paris,” he said. “Remember, Ms. Hidilyn was a young, unassuming and innocent 18-year-old when she competed in her first Olympics in 2008 in Beijing.” — Joey Villar

Typhoon Odette affects over 50 McDonald’s stores, one remains closed

December 30, 2021 | 12:03 am

OVER 50 McDonald’s Philippines stores were said to have been hit by Typhoon Odette but the majority have since resumed operations and only one remains closed.

“We closed as many as 53 stores but was able to open them at a limited capacity over the past days,” McDonald’s Philippines PR and Communications Senior Manager Meryl Adiel T. Hernandez said in an e-mailed response to questions on Dec. 29.

“To date, we only have 1 store closed, McDonald’s store in ICM Mall Cebu,” she added.

The six regions affected by the typhoon have since been put under a state of calamity. These include Mimaropa, covering the provinces of Mindoro, Marinduque, Romblon, and Palawan; Western, Central, and Eastern Visayas; Northern Mindanao; and Caraga, with Siargao, Dinagat Islands, and Surigao City.

McDonald’s Philippines said the stores’ reopening is a priority. The stores are currently powered by the company’s power generators.

“It allows our people to continue to work and earn, and become a safe place for our customers to get a hot meal, and even charge their phones,” Ms. Hernandez said.

The fastfood chain is still waiting for full power restoration as well as the arrival of more supplies.

The company has pledged 150,000 meals for typhoon victims through its Kindness Kitchen initiative. It said special deliveries are made through air freight for hard-to-reach areas amidst logistical challenges.

McDonald’s Philippines Managing Director Margot Torres said that it has corporate partners for the initiative, such as Coca-Cola Philippines and Andrew L. Tan’s Emperador, Inc. and Megaworld Corp.

Golden Arches Development Corp., a partnership between the Tan-led Alliance Global Group, Inc. and the George Yang group, is the sole operator of McDonald’s Philippines.

“To date, we’ve already served 24,000 meals in areas like Cebu, Bohol, Iloilo, Palawan, Surigao, and Leyte,” Ms. Torres told the ABS-CBN News Channel on Wednesday. “By the end of the year, we should serve 30,000 meals.”

The rest of the meals will be distributed by January.

“Currently, we already have a number of special deliveries making their way to our stores in Butuan and Surigao to be distributed to communities nearby,” Ms. Hernandez said.

“We also have a number of container vans that are still on the way to Visayas and Mindanao to provide assistance, however are held up while awaiting roads to fully clear and reopen,” she added. — Keren Concepcion G. Valmonte

Israel’s SavorEat launches personalized plant-based 3D printed burgers

December 30, 2021 | 12:03 am

HERZLIYA, Israel — Israeli foodtech firm SavorEat on Tuesday launched a plant-based burger system personalized to each customer, one of the first companies to use 3D printing technology to cook food.

Typically, vegan burgers from companies like Impossible Foods and Beyond Meat are frozen and later cooked on a grill.

SavorEat’s technology, however, are made on site by a self-contained 3D printer with three cartridges containing oils and other ingredients. Customers can choose how much fat and protein they want in each burger, which takes about six minutes to cook.

“It’s a mix of innovation of meat alternative and digital manufacturing where we can also cook the product,” Racheli Vizman, SavorEat’s chief executive, told Reuters.

She said the firm’s burgers are made with a combination of potato and chickpea and pea protein.

Demand for meat alternatives by health and environmentally conscious consumers has jumped in recent years, while alternative protein startups raised more than $3 billion in 2020. Another Israeli company, Redefine Meat, last month started to deploy meatless whole cuts in European restaurants.

SavorEat, funded mainly by Israeli institutions and whose Tel Aviv-listed shares rose 11% on Tuesday, said its products would initially be served at a local burger chain.

The company is also collaborating with food service firm Yarzin Sela that supplies Israeli high-tech companies and forged a deal with Sodexo to serve its vegan burgers to US universities.

“There is a growing segment of people called ‘flexiterian’ — people that are actively trying to look for meat alternatives to reduce their meat consumption,” Ms. Vizman said, citing about one-third of the US population.

Oded Shoseyov, chairman and chief scientist of SavorEat, said the firm is also working on a plant-based version of a pork breakfast sausage for the US market. — Reuters

Term deposit yields down on Omicron fears

December 30, 2021 | 12:03 am

YIELDS on the central bank’s term deposits slipped on Wednesday, as demand inched higher due to ample liquidity and amid concerns on the impact of the Omicron variant.

Demand for the term deposit facility (TDF) of the Bangko Sentral ng Pilipinas (BSP) reached P534.487 billion on Wednesday, the last offering for 2021. This surpassed the P400-billion auctioned off by the central bank as well as the P508.198 billion in bids seen last week.

Broken down, bids for the one-week term deposits amounted to P196.26 billion, well above the P170-billion offering and below the P202.415 billion in tenders logged the previous Wednesday.

Accepted rates were from 1.72% to 1.78%, wider than the 1.725% to 1.7675% seen a week ago. This brought the average rate of the seven-day papers to 1.7428%, dipping by 0.67 basis point (bp) from the 1.7495% quoted previously.

Meanwhile, the 14-day papers fetched bids amounting to P338.227 billion, higher than the P230-billion offer as well as the P305.783 billion recorded on Dec. 22.

Lenders sought for yields ranging from 1.765% to 1.83%, tighter than the 1.76% to 1.88% band logged a week earlier. With this, the average rate of the two-week deposits declined by 2.95 bps to 1.8011% from 1.8306% in the prior auction.

The BSP has not auctioned 28-day term deposits for more than a year to give way to its weekly offering of bills with the same tenor.

“The auction results continue to show strong interest from market participants for the BSP’s deposit facility amid sustained ample liquidity in the financial system,” BSP Deputy Governor Francisco G. Dakila, Jr. said in a statement.

Meanwhile, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said yields were lower as investors worry over the impact of the newest variant of the coronavirus disease 2019 (COVID-19).

“Concerns over the Omicron variant and the increase in COVID-19 cases in some countries could lead to some restrictions and could slow down global economic recovery and could also potentially ease demand/inflation,” Mr. Ricafort said in a Viber message.

In the Philippines, the infection rate has edged higher in the previous days. Cases rose by 421 on Tuesday to bring the total to 9,750, based on data from the Department of Health. Authorities have warned that cases in Metro Manila have been increasing over the holidays.

The Philippines has already detected four cases of the Omicron variant as of Tuesday.

The US and countries in Europe, as well as Australia, and China, among others, are also seeing cases spike in recent weeks.

The central bank on Wednesday said it expects inflation to range between 3.5% and 4.2% in December. BSP Governor Benjamin E. Diokno said lower oil prices could cause inflation to ease, although Typhoon Odette caused higher food prices.

In November, inflation stood at 4.2%, easing from the 4.6% in October but still above the BSP’s 2-4% target. Inflation year to date was at 4.5%, which is still above the central bank’s 4.4% forecast for 2021. — Luz Wendy T. Noble

Facebook pushes ahead with New York Farley project in bet on offices

December 30, 2021 | 12:02 am

IT’S BEEN a bright spot for a New York office market that has been hit hard by the pandemic: Technology companies have continued to sign leases in Manhattan even as employees work remotely.

That includes Meta Platforms, Inc., formerly known as Facebook, which is betting on offices despite the disruptions caused by the pandemic. While many companies have reduced their space, the social media giant is expanding in New York, with a goal of bringing workers back early in 2022.

Last year, Meta signed a lease for the redeveloped Farley Building across from Pennsylvania Station. It was the largest New York office deal in 2020. The company will occupy 730,000 square feet (67,800 square meters) at the former post office and employees will begin relocating there next year. Vornado Realty Trust, a major Manhattan landlord, developed the space, which is a central piece of a new technology and finance corridor that is taking shape just west of Madison Square Garden. That includes Hudson Yards, where Facebook already has an office and is renovating additional space with plans to move more people there in 2022.

Bloomberg got a tour of the new offices, which will be fitted with game and music rooms, art installations, libraries, cafes and expansive outdoor terraces.

The Farley Building, built in 1912, features 18 foot-high ceilings, large windows and a wraparound roof terrace for events.

Farley, a registered historic landmark, retains its original elevator banks, which Meta will convert into 1,500-square-foot libraries to be “focus areas” for employees. Desks will be situated in clusters near windows where natural light will filter in, while meeting spaces will be closer to the center of the floorplans.

The company’s office at 30 Hudson Yards, which features a cafe and event spaces, has 360-degree views.

The large windows at the Hudson Yards office provide views to the east where One Vanderbilt and the Chrysler Building are visible. — Bloomberg

Converge increases international network capacity by 1.3Tbps

December 30, 2021 | 12:02 am

CONVERGE ICT Solutions, Inc. said it increased its international network capacity by 1.3 terabits per second (Tbps) through its C2C (city-to-city) cable system, the company said in a statement on Wednesday.

The cable system connects the Philippines to Hong Kong, Taiwan, Singapore, Japan, Korea, and China. Converge said it is part of the EAC-C2C (East Asia Crossing-city-to-city) network, which spans 17,000 kilometers.

“It is our vision to make the Philippines a digital hub in Asia and securing much-needed international bandwidth is key to realizing this vision,” said Dennis Anthony H. Uy, founder and chief executive officer of Converge.

“We’re strengthening our international capacity portfolio in anticipation of tremendous demand in data in the coming years within and outside of Asia,” he added.

One Tbps is equivalent to 1,000 gigabits (Gb) of data that passes through the network with each second. Out of the 1.3 Tbps, 700 Gb per second is already active.

The additional 1.3 Tbps capacity going to Converge’s points of presents ensures that its connection is “fully redundant.” Converge said network connectivity will be maintained even if there would be a submarine cable outage.

“This additional capacity ensures sufficient and cost-effective connectivity for the fast-growing customer base of Converge, both residential and business,” Converge Chief Operations Officer Jesus C. Romero said.

On Wednesday, Converge shares at the stock exchange closed unchanged at P32.10 each. — Keren Concepcion G. Valmonte

Quizon wants another chance to win gold in SEA Games

December 30, 2021 | 12:02 am

daniel-quizon-ncfp-fb — DANIEL QUIZON — BW FILE PHOTO

REIGNING national chess champion Daniel Quizon has an unfinished business in the Southeast Asian Games.

If given a choice, the 17-year-old Mr. Quizon bested all comers to rule the National Championship set in Mactan, Cebu two weeks ago to earn a spot to the national team waging war in the Hanoi SEA Games in May next year.

There will be 10 golds in at least two events — rapid and blitz — initially listed in the Hanoi calendar and Quizon wants a share of it.

“I want to play in the blitz event,” said the Dasmariñas City native.

Mr. Quizon’s insistence was rooted to his heartbreaking experience in the 2019 SEA Games in Subic where he came a win away from snatching the blitz gold.

Mr. Quizon was at joint first with Indonesian Grandmaster Susanto Megaranto going into the seventh and final round and even caught a big fish in former world blitz champion Le Quang Liem of Vietnam along the way.

But as fate would have it, Mr. Quizon, then just an inexperienced 15-year-old, had a breakdown and blundered right in the opening, allowing Mr. Megaranto to cop the gold while sending the former back home without a single medal.

Now Mr. Quizon wants redemption.

“I hope to be given another chance at winning the gold in the SEA Games,” said Quizon, who is seeking to become a GM next year. — Joey Villar

What are you doing New Year’s Eve (and New Year’s Day)?

December 30, 2021 | 12:02 am

AS 2021 comes to a close, there are a lot of things to be grateful for and more reasons to celebrate as another year rings in. Here are some of the ways to welcome 2022.

FIREWORKS AT BGC
To welcome 2022, Taguig City and Bonifacio Global City (BGC) invite the public to view the City Government of Taguig’s drone and fireworks display that can be seen all throughout the estate. This will be complemented by the community’s twinkling lights and variety of al fresco dining options.

On Dec. 31, there will be simultaneous fireworks display in the following locations: 5^th Avenue, Bonifacio High Street (Drone Display at 11:55 p.m.); the Uptown Parade Steel Carpark; and the Market Market Open Carpark.

TAIWAN BROADCASTS FIREWORKS SHOW
Taiwan is once again providing its annual free live broadcast of the Taipei 101 New Year countdown fireworks display. The broadcast will begin precisely at 11:55 p.m. on Dec. 31. This year’s show will feature a 360-second performance using 16,000 fireworks, with the theme “Towards a better future.” It is hoped that the display could heal people’s hearts around the world as they look forward to a better and a merry 2022.

After the fireworks displays, the video will be uploaded to MOFA’s “Trending Taiwan” YouTube Channel: https://www.youtube.com/channel/UC4yFGrMYnnRusraegYMIauw

RWM’S COUNTDOWN CONCERT
Resorts World Manila’s (RWM) Grand Fiesta Manila is making a lot of noise to count down to the new year. It is bringing together two of the country’s leading rock acts, Aegis and The Dawn, for a back-to-back The Grand Countdown to 2022 concert to close out the year with a bang for a live audience at the Newport Performing Arts Theater (NPAT) on Dec. 31 starting at 8 p.m.

The concert will be hosted by Nicole Laurel Asensio, and big surprises await lucky spectators.

Tickets to the Grand Countdown to 2022 are now available from Bronze to SSVIP for P2,659 to P13,615. For inquiries contact Girah Manaligod (0917-872-8309), Neil Crisostomo (0917-658-9378), or King Feria (0917-823-9602). Stream the show at home live on pay per view at KTX.ph on Dec. 31 at 8 p.m. for P888 per access. For more information on The Grand Countdown to 2022 and Grand Fiesta Manila visit www.rwmanila.com.

DINE AT THE DIAMOND HOTEL
Greet the New Year at Diamond Hotel with sparkling offers for Dec. 31. A buffet spread awaits guests at Corniche where they can indulge in the New Year’s Eve dinner for P3,880 net per person which includes a glass of champagne, party favors, and live DJ entertainment for the countdown. Yurakuen features a Japanese set dinner feast to usher in the New Year which includes a glass of champagne and solo violinist for entertainment. The set menu for a group of four persons is P8,380 net, while a group of six persons can dine for P11,280 net. Guests can also celebrate at the Lobby Lounge with access to the Corniche New Year’s Countdown and Dinner Buffet for P3,880 net per person which includes a glass of champagne. The end of the year celebration will not be complete without the New Year’s Countdown at Bar 27 with a live DJ. Have fun all night at P1,380 nett per person consumable.

For queries and reservations, call Diamond Hotel at (632) 8528-3000 ext. 1121. Diamond Hotel Philippines is located at Roxas Blvd. corner Dr. J. Quintos St., Manila.

NEW YEAR COUNTDOWN PARTIES
Hotels at Resorts World Manila are offering a variety of festive hotel dining options and New Year’s Eve countdown parties.

Dance the night away over at the Marriott Hotel Manila with their Countdown to 2022 for P7,388 net per pax, where guests can indulge in live entertainment and a New Year buffet featuring fresh seafood on ice, roasted pig, US Prime ribeye, desserts, and a wine selection. The guest-favorite Cru Steakhouse also offers a special New Year Set Menu for P6,022 net per person that highlights US Angus beef tenderloin, Atlantic Salmon Terzetto, Roasted oxtail consomme, and The Peach Dessert.

Sheraton Manila will have a New Year’s Eve Gala Night at ColLab for P4,500++ per pax, inclusive of wine cocktails, a festive buffet, a raffle draw, and live performances from Jo and the Holy Notes. Guests can also opt for a fine dining experience at the Vubble in Vega Pool with Vubble Pop 2022, available for P10,000+++ per person. The package also includes complimentary entrance to the New Year’s Eve gala at ColLab. Meanwhile, New Year’s Eve Dinner by the Balcony is perfect for welcoming 2022 in private with a view of the Vega Pool festivities. For P18,888+++ for two guests, this package is inclusive of an overnight stay at Sheraton Deluxe Room with Balcony View, breakfast buffet at S Kitchen, a New Year’s Eve mini cake with sparkler, and an intimate four-course dinner at the balcony.

Head over to the Vega Pool at Hilton Manila and rock the year away with a dazzling light show, live entertainment, and interactive game and activity booths perfect for the family, all paired with a selection of gourmet favorites and cocktail mixes. Guests can choose from the hotel’s New Year’s Eve packages starting with Blast from the Past Poolside Countdown at P2,500++ per pax, inclusive of three beverages, P500 worth of dining credits, and party favors. The Poolside Dinner Buffet is also available at P3,500++ per person, which includes a festive dinner buffet featuring live tuna carving and lechon, one beverage, and party favors. For a more intimate and personalized experience, guests can book the Vubble Pod for P25,000++ for two pax. This package includes an overnight stay in a Hilton Guestroom with pool view with breakfast, butler and gueridon service, premium beverages, a five-course dinner at the Vubble, and free use of bluetooth speakers and Polaroid film camera.

All the hotel packages are available on Dec. 31. To know more about these offers, visit RWM hotels Facebook pages at @HiltonManila, @sheratonmanila, @manilamarriott. Visit www.rwmanila.com for details on other Grand Fiesta Manila 2021 offers.

AYALA MALLS WELCOME THE NEW YEAR WITH SALES
Ayala Malls will ring in 2022 with a slew of activities, offers and sales.

From Jan. 1-16, shoppers can avail of discounts and deals at mall-wide sales across all Ayala Malls nationwide. In addition, promos await shoppers courtesy of Ayala Malls and their partners, Zing, Citibank, GrabCar, and foodpanda.

Shoppers at all Ayala Malls nationwide will enjoy discounts of up to 70% at stores ranging from homegrown brands like Kamiseta, Bayo, and Plains and Prints to international labels such as Uniqlo, H&M, Zara, Pandora, and many more. Fitness, outdoors, and travel enthusiasts can get deals from North Face, Travel Club, Olympic Village, and GNC; while also finding the accessories to match their adventures at Restoerun, Dr. Marten’s, and Sunglass Haven among many.

In addition, for every P1,000 single or accumulated spend with their Citi credit card at Alabang Town Center, Glorietta, and Greenbelt from Jan. 1-31, shoppers get a chance to win a three day/two night holiday stay at El Nido Resorts Lagen Island, El Nido, Palawan.

Meanwhile, GrabCar users can avail of P50-off on rides to and from Ayala Malls by using the code, AyalaVacforGood, with a minimum fare of P200. This code can be used for a maximum of two times per user in select Ayala Malls on weekdays from 10 a.m. to 4 p.m. until Feb. 28.

Customers are now welcome to set their orders ahead of time through foodpanda, which they can enjoy at Ayala Malls’ al fresco patio areas or at home. App users can also input the promo code, AyalaMalls100, to avail P100-off on pick up at DriveBuy areas and delivery orders. The limited-time promo can be used on top of other foodpanda discounts along with a minimum spend of P399 at select Ayala Malls until Jan. 31.

Run until Jan. 15, Zing Plus app users can upgrade their account type to avail of free parking vouchers and redeemable Zing Points. Shoppers who link their GCash with their Zing accounts will earn 100 Zing Points upon first spend (minimum of ₱500) until Jan. 31. Plus, Zing users who shop with Visa can Earn 500 Zing Points for a minimum spend of ₱3,000 and earn up to 4X Zing Bonus Points until Feb. 15.

SHOPEE HOLDS 1.1 NEW YEAR SALE
Shopee starts 2022 with its first sale of the year, the 1.1 New Year Sale. Shoppers can enjoy a wide selection of products and promos such as ₱1 Deals, free shipping with no minimum spend, and 11% off vouchers.

Leading up to Jan. 1, there is a Payday Sale on Dec. 30, and Countdown Sale on Dec. 31.

Shopee visitors can also play Shopee Throw, a new game where they can earn points and redeem prizes by throwing sparklers at a rotating turntable. There is also a new Fortune Forecast as well with a chance to win a new Caffino Espresso Machine.

For details on Shopee’s 1.1 New Year Sale visit https://shopee.ph/m/1-1-sale.

Insurance brokers see more than P70 billion in premiums

December 30, 2021 | 12:02 am

INSURANCE brokers generated a total of P73.61 billion in premiums in 2020, earning P8.07 billion in commissions.

Aon Insurance and Reinsurance Brokers Philippines, Inc. topped the list with premiums reaching P13.48 billion that year, followed by Marsh Philippines, Inc., BDO Insurance Brokers, Inc. and Lockton Philippines Insurance and Reinsurance Brokers, Inc.

BDO Insurance earned the most in commissions with P1.5 billion, followed by Aon Insurance, Marsh Philippines, and Lockton Philippines.

“In terms of product line, insurance brokers generated the most premiums in fire insurance, amounting to P22.14 billion as of year-end 2020,” Insurance Commissioner Dennis B. Funa said in a press release on Wednesday.

“This is followed by the health insurance and life insurance lines, amounting to P17.29 billion and P9.48 billion, respectively.”

Insurance brokers earned the most commissions in fire insurance and health insurance.

Meanwhile, reinsurance brokers generated P2.19 billion in premiums and P157 million in commissions in 2020.

Among them, PhilPacific Insurance Brokers and Managers, Inc. ranked first in premiums produced with P732.65 million, while also earning the most in commissions with P52.36 million.

Alsons Insurance Brokers Corp. came in second in premium production, while KRM Reinsurance Brokers Philippines, Inc. ranked second in commissions.

“Reinsurance brokers generated the most reinsurance premiums in 2020 in the fire insurance line, with P1.41 billion; in the engineering line, in the aggregate amount of P286.96 million, and in the marine hull line, with P142.96 million,” Mr. Funa said.

“In terms of commissions earned as of year-end 2020, reinsurance brokers earned the most commissions in the fire insurance line, with P87.98 million in earnings.” — Jenina P. Ibañez

Waymo and Geely brand Zeekr team up to develop driverless taxis

December 30, 2021 | 12:01 am

CHINA’s Geely Holding said its premium electric mobility brand, Zeekr, will make electric vehicles for Waymo, Alphabet, Inc.’s self-driving unit, to be deployed as fully autonomous ride-hailing vehicles across the United States.

The vehicles will be designed and developed at Zeekr’s facility in Sweden, and later integrated with Waymo’s self-driving technology, Geely said on Tuesday.

Waymo said it would introduce the vehicles to US roads “in the years to come.”

Concept images Waymo published on Tuesday show a roomy, low-to-the-ground minivan with seating for about five riders and sliding doors on each side serving as the lone entryways.

Waymo is the first and only fully driverless taxi service in the United States. It has driven thousands of people since launching the service a year ago in Phoenix.

The partnership with Zeekr will help Waymo expand its driverless ride-hailing service in the face of increased competition, and also create inroads for Chinese brand Geely into the US market. — Reuters

PRA looking for new rowing hero, opens Lake Caliraya training center

December 30, 2021 | 12:01 am

THE PHILIPPINE Rowing Association has started its search for someone who could follow in the footsteps of Melcah Jen Caballero, a 2019 Southeast Asian Games double gold medalist who retired early this month.

“We need new heroes with the retirement of Melcah Caballero,” Philippine Rowing Association (PRA) president Patrick Gregorio yesterday told The STAR.

Ms. Caballero’s shoes will be hard to fill having accounted for two of three mints the country snared in the last staging of the biennial meet in Subic with wins in the women’s lightweight single sculls and lightweight double sculls with Joanie Delgaco.

Mr. Gregorio believes though that nothing is impossible.

“A journey begins with a single step and one of the first steps we’re taking is opening the Lake Caliraya rowing training center with the Manila Boat Club,” said Mr. Gregorio, who thanked former PRA president Quintin Pastrana for spearheading the project.

With Ms. Caballero, who had focused on her Naval career, out, Tokyo Olympian Cris Nievarez is expected to lead the national team targeting a couple of golds in the Hanoi SEA Games in May next year.

“The target is to bring home two golds in Hanoi,” said Mr. Gregorio.

The Nievarez-led rowers are also eyeing to do well in the Hangzhou Asian Games in September next year.

“We’re preparing for participation in the Asian Games too,” said Mr. Gregorio. — Joey Villar

AirAsia to complete RM974.5-M rights issue

December 30, 2021 | 12:01 am

AIRASIA GROUP Berhad (AAGB) announced that it is set to complete its renounceable rights issue to its existing shareholders on Dec. 31 in a bid to support its fundraising efforts.

AAGB said in a statement on Wednesday that the renounceable rights issue to its existing shareholders, upon listing of the redeemable convertible unsecured Islamic debt securities (RCUIDS) and warrants on the Bursa Malaysia’s main market, is raising Malaysian Ringgit (RM) 974.5 million.

According to AAGB, the rights issue involved the issuance of seven-year RCUIDS with a nominal value of RM0.75 apiece, plus free detachable warrants, on the basis of 2 RCUIDS with 1 warrant for every 6 company shares.

“The rights issue will enable AAGB to support various segments of the group, including but not limited to, working capital and other operational costs incurred due to the outbreak of the global coronavirus disease 2019 (COVID-19) pandemic and costs required to ramp-up operations to be prepared for the rebound of international travel, balanced with funding growth of the various AirAsia digital business unit,” it said.

AirAsia Group Chief Executive Officer Anthony Francis “Tony” Fernandes said the rights issue is a vital component of the company’s overall fundraising strategy supporting a strong rebound in air travel across ASEAN in 2022.

“We are gradually resuming flights in all of our key markets and look forward to returning to pre-COVID levels on many of our popular routes in the new year alongside strong vaccination rates, better testing procedures and education in all of our markets,” Mr. Fernandes said.

“Importantly, with today’s announcement, our fundraising strategy remains firmly on track. We have now achieved over RM2.5 billion of fundraising, providing strong liquidity to ramp up operations through next year when we expect to be sustainable and driving shareholder value once again,” he added.

Meanwhile, AirAsia Philippines said it had vaccinated 20% of its employees with the booster shot as part of the company’s vaccination campaign against COVID-19.

The carrier said in a separate statement on Wednesday that its efforts to strengthen the administration of booster shots is in line with the country’s intensified program as it seeks to maintain its low-risk status notwithstanding the threat from any emerging COVID-19 variant.

AirAsia Philippines said it saw a 15-20% increase in bookings for near-term travel within the past 30 to 60 days.

“Load factor for the month of December was registered at 91% while January is currently at 45%,” it said.

AirAsia Philippines Spokesperson Steve F. Dailisan said the company is already seeing an influx of passengers from Metro Manila to the different provinces across the country.

“For this reason, our ground and flight crew remain on standby to provide the very best service and guest experience including a focus on making sure that all our flights arrive on time,” Mr. Dailisan said.

“Taking the booster shot is our shared responsibility to ensure that all guest-interactions at the airport and onboard our flights have an added layer of protection against any emerging variant. We will continue to strengthen our multi-layered approaches to health and safety, and instill confidence amongst our guests throughout the peak end of year holiday season and into 2022,” he added. — Revin Mikhael D. Ochave