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Chemical Industries sells Makati property for more than P1 billion

CHEMICAL Industries of the Philippines, Inc. said it has completed the final transaction for the sale of its Makati property for P1.13 billion.

“A final transaction has been reached between the parties. It was determined that the actual buyer is Keyland Makati Properties, Inc.,” the firm said in a regulatory filing on Monday.

The listed company said that it signed the deed of absolute sale for the property with Keyland Makati, which is the assignee of its parent entity, Keyland Corp.

The 1,009-square-meter property is located at 851 A. Arnaiz Ave., Legaspi Village, Makati City.

According to the company, the sale was made to “convert idle assets into cash” and to “increase revenues.”

The total purchase price was divided into a reservation deposit of P50 million, and the remaining P1.08 billion net of creditable withholding tax payable via manager’s check.

Keyland is a real estate developer of residential and commercial buildings in urban centers.

According to its website, Keyland has three residential projects located in the cities of Makati, Muntinlupa and Las Piñas. Its office properties are in the cities of Muntinlupa, Las Piñas, Makati and San Juan.

Chemical Industries is a holding company primarily engaged in the manufacture, distribution, and sale of industrial chemicals.

On the stock exchange on Monday, its shares closed unchanged at P150 apiece. — Justine Irish D. Tabile

Whatever happened to Maria Ozawa?

MARIA OZAWA

By Joseph L. Garcia, Reporter

ON THE evening of Dec. 30, 2022, Maria Ozawa poured tequila down my throat. For a few seconds, I lived a fantasy held onto by thousands of teenage boys in the early 2000s who worshipped the Japanese adult film star.

Maria Ozawa was in town on the penultimate day of 2022 as an ambassador for Mansion Sports Bar, a noisy new club in Makati that seemed to shake up one of the quieter streets in Makati’s Legaspi Village.

Ms. Ozawa isn’t new to the club scene: according to her, she has two lounges in Manila; one in Makati, and another in Manila’s Port Area. She also owns a bar in her native Japan.

In 2005, Maria Ozawa began her journey as the queen of smaller screens: watched in secret by boys of all ages. The Canadian-Japanese star awakened their sexuality as she performed stunt after stunt on camera. She left the industry around 2009, having performed also in some mainstream Japanese films. She appeared in some mainstream films in Southeast Asia at the beginning of the 2010s. To her recollection, she entered the Philippines in 2015, dipping her fingers in the Manila showbiz scene, shooting films with action stars Cesar Montano and now-Senator Robin Padilla. Up until 2022, she had been dating Filipino actor, model, and chef Jose Sarasola.

While the pandemic had kept her in Japan, she has traveled back and forth between the countries since travel restrictions have been lifted.

When BusinessWorld met her, Ms. Ozawa was wearing a white halter dress with a neckline held up by chains. She displayed an almost-girlish innocence and enthusiasm, and spoke with a high, charming voice. She discussed the reasons why she left the adult film industry. “That was a long time ago. Around 2009 or 2010,” she pointed out.

“I’ve accomplished my dream. I know that that industry isn’t an industry that you can do forever. Not for long-term,” she explained.

“When I started this, I wanted to be famous, and I wanted to change the inspiration and the thinking about the industry itself. I did — then I won an award,” she said.

If Ms. Ozawa’s recollections about leaving the industry are correct, she left the industry near the time she won at the 2009 AV Grand Prix, a Japanese award-giving body for the adult film industry (called the AV, as in “adult video,” in Japan). In that year, one of her films won the Best Violence Video Award and another, Oral Venus, won a special award in the Featured Actress Video category.

“I think that was the time when I thought, ‘If I quit, would I still be famous?’ People would be like, ‘Where did she go? What happened to her?,’ rather than just continuously doing [films] until they forget about you. A fast decision, I think,” she told BusinessWorld. “Luckily, I was well-known in other countries.”

LESS STRESS
We asked her about the difference between being famous on small screens and big mainstream ones. “Totally different,” she said, though the answer is less about the different kinds of fame but more about a nation’s culture. “I guess it’s like which country you work (in). In Japan, any celebrity, whatever the type is, it’s very, very hard to work there compared to the Philippines,” she said.

“I’ve done it both. Working here in the Philippines is so much less stress. Easier — in a good way. Everybody’s very supportive, and people just — their backup, their hospitality, is something very different from Japan. I’m not saying Japan’s mean, but it’s just a culture thing. I think people here in general are nicer,” she said.

“Except for the traffic, I love everything.”

She talked about going off-camera: not just from adult films, but from being what we called a “movie movie” star. She found the term amusing and repeated it. “Now I know how the staff felt, and how hard it is to work in the back,” she said with laughter. “But then, I think I enjoy being in this situation better than always being in the camera. Or the artist’s side. I think in the long term, I think it’s so much easier to work in this business management thing because you could gather up with people, meet new people, and then there’s so many work opportunities which I love,” she said.

“I really enjoy my status right now.”

Asked if she missed the porn industry, she said, “Sometimes. Not like literally the job itself. I miss my staff. I miss my girl friends. Most of the people I was working together (with), they’re all retired already. I just miss that atmosphere. Everybody’s so warm, so nice, and then the makeup artists, the video crew, they’re all nice. They were like my family. I was doing that industry for about a couple of years,” she explained.

“Sometimes I think about it. I wonder how it is now. I don’t know how they film it now. I would like to visit a studio one day and compare. I’m sure everything’s getting better with all the techniques, right? It will be nice if I can go visit.”

She did go further about the advantages of life off-camera. “Relaxing. No pressure. I can do whatever I want, anytime I want. There’s no camera following you 24/7.”

But “I miss acting,” she said about her mainstream career. “I do, but then — secret — I’m also really good at acting on the movie movies. I look at myself on the big screen and I’m like: ‘Oh my God! I couldn’t believe it! It’s really me!’”

FINDING ROMANCE
Ms. Ozawa has found love again: we mentioned her breakup with the Filipino celebrity Mr. Sarasola, but now, she says she’s dating a man from Japan. “Yes!” she responded to a question about dating again. “You’re not giving up,” she quipped.
“He’s Japanese. Since I went back to Japan, it’s just so much easier. If you’re in that country, it’s so much easier,” she said.

“I always had this thing about romance about foreign people — they’re more romantic than Japanese people. Because of the culture — they open doors for you, roses, dates, everything. These small things,” she explained. “But when I go back to Japan, I feel relaxed also, because we talk in the same language; Japanese or English. Whereas here, when I was living here, I had trouble, because I couldn’t speak Tagalog.”

“I tried to learn, but since people are so good in English — you guys are so smart — I got lazy.”

INFLUENCE
Since Ms. Ozawa left the industry, adult film stars and their lives are entering mainstream conversation. She wouldn’t be the first one to have a career off-camera: we’ve read about adult stars becoming sommeliers, or musicians, or artists. On another note, amateur performers also hit audiences more easily thanks to adult websites that allow one to upload their own content, and even earn a living through platforms like OnlyFans.

In response to a question about her work influencing the mainstreaming of adult film stars and its culture, she agreed, “I think so.”

“I think it’s good and bad in both ways. Of course, it’s the industry where I was in before, so I couldn’t say anything bad about it. But then, I think, if you want to continuously do that industry, you really have to think it through,” she said.

“I’ve been telling lots of people, like younger girls: just don’t do it for the heck of it, or because of the money. People will regret it. It’s going to be there forever, and it might ruin your future life,” she warned.

“What I tell them is: do it if you really want to, but never do it because of someone else. Do it because you really, really thought about it,” she said.

“Don’t give up on your dreams. I hope people will look at me and think differently about the industry. I never gave up on my dreams before. I had so much trouble when I was younger. But I just kept going.”

“And this is where I am. I want to tell people: never give up.”

Petron to buy $22.47M of its debt securities

PETRON Corp. is buying $22.47 million of its outstanding senior perpetual capital securities listed in Singapore after its offer to holders of its debt ended last week, the oil company said on Monday.

In a regulatory filing, the listed company said that it had received valid tenders to its offer amounting to a total of $37.48 million of its securities listed on the Singapore Exchange Securities Trading Ltd.

Petron said it is buying the securities at $927 per $1,000 in principal amount. The deadline for its tender offer was on Jan. 12, 2023.

The company said that it set a deadline for the settlement of payment on Jan. 19, adding that its offer for the $22.47 million should be received on or before that date.

Petron also said that it targets “to deliver all securities acquired to the tender offer to the registrar for prompt cancellation.” After the purchase, its outstanding securities will be down to $477.53 million.

On Jan. 4, Petron said that it was offering to buy up to $50 million of its outstanding senior perpetual capital securities, which is a part of its $500-million outstanding US dollar-denominated debt issued on Jan. 19, 2018.

In a previous regulatory filing, Petron said that it set a timeline of two weeks from the start of the offer period until the payment date. It set the start date on Jan. 4, with the expiration deadline on Jan. 12, unless extended or terminated by the company, while the payment date was scheduled on Jan. 18.

Earlier this month, Petron secured the approval of the Securities and Exchange Commission on its planned biofuels venture that will allow the company to construct and operate a coco-methyl ester plant and secure relevant permits for the project.

Petron operates the remaining refinery in the country that provides 40% of local petroleum requirements. Its refinery in Bataan produces 180,000 barrels per day.

It also has about 50 terminals and around 2,700 service stations where it sells gasoline and diesel. Its combined refining capacity is 268,000 barrels a day, producing fuels and petrochemicals.

At the local bourse on Monday, Petron’s shares closed 0.40% lower or P2.49 apiece. — A.E.O. Jose

HK Disneyland welcomes guests back with tour packages, new activities

FOLLOWING the further easing of COVID-19 pandemic restrictions in Hong Kong, tourists are now welcome to rediscover familiar rides, take photos with their favorite Disney characters, and enjoy several new activities at the Hong Kong Disneyland Resort.

Tourists no longer have to quarantine when they visit Hong Kong and they are allowed to explore attractions and restaurants as soon as they arrive.

“We have seen guests from other parts of the world, including Philippines, Australia, Singapore returning to HKDL (Hong Kong Disneyland). We are encouraged and invigorated to see more and more inbound tourists returning to HKDL and Hong Kong recently,” Eva Lau, Hong Kong Disneyland Sales Director for Hong Kong and international markets, told BusinessWorld in an e-mail.

The theme park has been closed four times and opened five times as part of the city’s efforts to contain the virus outbreak since the first easing of restrictions in June 2020.

“We’ll continue to work with the Hong Kong Tourism Board, industry peers and corporate partners to further promote Hong Kong to international market to attract more inbound tourists,” Ms. Lau said.

This year, the theme park is offering special tickets and hotel promos such as “Reignite the Magic Combo: 1-Day Park Ticket” and “Disney Premier Access,” which enables priority access to some of the Park’s most popular attractions.

NEW ATTRACTIONS, CHINESE NEW YEAR ACTIVITIES
There are a number of newly opened attractions plus special activities lined up for the Chinese New Year weekend.
In celebration of the theme park’s 15th anniversary, the reimagined centerpiece, named Castle of Magical Dreams, was launched in 2020. Inspired by 13 stories of Disney princesses and queens, the architecture embraces their unique characteristics through the interpretation of color, icons, and symbols.

There are a couple of new shows. Follow Your Dreams is a 20-minute live outdoor musical show with a new song of the same title, while Momentous is a 20-minute show told in six chapters with large-scale projection mapping technology, choreographed fountains, illuminated water projection, lasers, theatrical lighting, and fireworks effects.

Guests who visit during the Chinese New Year weekend (Jan. 20 to 22) can expect Disney characters parading on Main Street dressed in festive new year outfits, Ms. Lau said. As a Chinese New Year tradition, guests will receive a newly designed lai see (red envelopes), from Jan. 22 to 25 (while stock lasts). The envelopes contain chocolate gold coins as well as dining and shopping coupons. Guests will also meet the lavender rabbit StellaLou, the Year of the Rabbit mascot, dressed in a cheerful red dress and fan. StellaLou will be joined by her friend, the pink fox LinaBell.

“As we always say, ‘Seeing is Believing’,” Ms. Lau said. “We want to invite Filipino tourists to visit HKDL and experience their long-missed magical moments in person.”

HEALTH AND SAFETY MEASURES
While restrictions have eased, there is still an ongoing pandemic, so there are health and safety measures to accomplish. Prior to visiting, guests are required to fill up a “Vaccine Pass” that allows access to premises. Guests will have their temperature screened before entering the theme park and must wear masks (except at outdoor areas of the park). For more information, visit https://www.hongkongdisneyland.com/guest-services/health-and-safety/.

For the latest travel information about Hong Kong, guests may visit https://www.coronavirus.gov.hk/eng/inbound-travel.html.

Tickets to the theme park are to be purchased in advance with via the Hong Kong Disneyland reservation website (https://www.hongkongdisneyland.com/book/general-tickets). They are also available at KKDay, Klook, Traveloka, and Trip.com. — MAPS

AirAsia PHL reopens Kaohsiung route; EVA Air to launch Taipei-Clark flights

BW FILE PHOTO

LOW-COST carrier AirAsia Philippines announced on Monday that it recently resumed its service to Kaohsiung, Taiwan just in time for the Lunar New Year festivities.

The inaugural flight departed from the Ninoy Aquino International Airport (NAIA) Terminal 3 on Jan. 7, it said in a statement.

“Before the pandemic, this route and Manila-Taipei had immensely contributed to our growth with its consistently high traffic demand, especially among leisure travelers and overseas Filipino workers who are always searching for the best value deals,” AirAsia Philippines Chief Executive Officer Ricardo P. Isla said.

“We look forward to reopening more international routes and air travel in the Eastern Region of Asia,” he added.

Kaohsiung, a city located in southern Taiwan, is known for its river parks, cultural activities, and culinary scene.

“The Manila-Kaohsiung flight departs via the NAIA Terminal 3 every Tuesday, Thursday, and Saturday, 4:45 p.m. and arrives in Kaohsiung 6:45 p.m. Its return flight leaves Kaohsiung International Airport at 8:15 p.m. and arrives at NAIA T3, 10:00 p.m.,” AirAsia Philippines said.

Meanwhile, international airline EVA Air announced separately that it will operate daily nonstop flights between Taipei and the northwestern Philippines starting March 30.

“The addition of Clark International Airport will give EVA three gateways in the Philippines and boost the convenience and flexibility passengers enjoy now with Manila and Cebu service,” the airline said in an e-mailed statement.

“By the end of March, the airline will be operating 35 flights a week to the Philippines, offering travelers from throughout Asia, Europe, Australia and North America more arrival and departure options,” it added.

The Department of Tourism (DoT) said recently that the Philippines logged 2.65 million international arrivals in 2022, beating the 1.7 million target and raising hopes for the arrivals goal to be met in 2023.

The DoT said that of the 2.65 million international arrivals in 2022, 2.02 million were foreigners while 628,445 were returning Filipinos.

Of the foreigner arrivals, the US accounted for 505,089, South Korea 428,014, Australia 137,974, Canada 121,413, the UK 101,034, Japan 99,557, Singapore 53,448, India 51,542, Malaysia 46,805, and China 39,627.

The data cover arrivals between February and December. The Philippines reopened its borders with easier quarantine requirements on Feb. 10.

For 2023, the DoT target is 4.8 million international visitors. — Arjay L. Balinbin

Opera star Placido Domingo faces new accusations of misconduct

MADRID — Opera star Placido Domingo faced new accusations of sexual harassment from a fellow Spanish singer in a television program broadcast on Sunday, three years after such claims prompted an apology and curtailed his career.

In a 2020 investigation, more than three dozen singers, dancers, musicians, voice teachers, and backstage staff said they had witnessed or experienced inappropriate behavior by Mr. Domingo, 83, over three decades. Mr. Domingo has not admitted any wrongdoing.

The latest accusation came from an unidentified singer in Spain’s La Sexta television channel. Appearing as a dark figure, she said Domingo allegedly asked to touch her at a theater in Spain at the start of the 21st century. On another occasion, he tried to kiss her, she said.

“One of the first things they tell you is don’t go up in the lift alone with Placido Domingo,” the woman told La Sexta television channel.

She related how Mr. Domingo allegedly asked to touch her after a rehearsal.

“The first time that I felt unease was when we were rehearsing. He (Placido) told me in front of everyone: ‘Listen, can I put my hand in one of these lovely pockets of yours.’ I was wearing trousers with an embroidered back pocket,” she said.

“I had a bad stomach because I thought what can I say to (Domingo) in order to carry on normally. If I tell him no, there will be consequences and if I say yes, I don’t even want to think about it.”

The singer said she did not report Mr. Domingo to her bosses or the authorities.

“He is Domingo. He is untouchable. He should not be but I am in the shadows,” she added.

Representatives of Mr. Domingo did not respond to a request for comment.

The 2020 investigation by the American Guild of Musical Artists (AGMA) concluded that Mr. Domingo had behaved inappropriately.

Mr. Domingo said in a statement at the time he respected the women’s decisions to speak out and that he was “truly sorry for the hurt I caused them.”

The findings prompted Spain to cancel planned performances by the tenor-turned baritone at publicly funded theaters. US institutions including the Metropolitan Opera in New York and San Francisco Opera also scrapped planned engagements.

Mr. Domingo resigned as general director of the Los Angeles Opera, whose own enquiry found 10 allegations about him to be “credible.”

No criminal case was brought to court over any of the claims.

In an interview with Spanish newspaper El Mundo in January 2022, Mr. Domingo denied harassing anyone and said he felt he had been convicted in the court of public opinion because he did not speak out.

AGMA’s investigation was partial, he said, and contained few concrete facts.

Mr. Domingo returned to Spain to perform in a charity concert in June after an absence of almost a year and a half, and has performed in other countries. — Reuters

CTA affirms ruling on Carmen Copper’s refund claim

CTA.JUDICIARY.GOV.PH

THE Court of Tax Appeals (CTA) has affirmed its ruling partially granting Carmen Copper Corp.’s efund claim representing its importations traced to zero-rated sales worth P10.59 million for the period covering July to September 2016.

In a 27-page ruling dated Jan. 10 and made public on Jan. 13, the CTA full court agreed with its second division denying the firm’s original claim worth P36.11 million since it provided invoices outside the year 2016.

“A taxpayer must not only prove the existence of a zero-rated sale but also that the zero-rated sale was issued a valid invoice,” Associate Justice Marian Ivy F. Reyes-Fajardo said in the ruling.

On Sept. 26, 2018, Carmen Copper filed its annual income value-added tax (VAT) returns and showed an excess of input taxes worth P48.24 million traced to zero-rated sales.

Under the country’s revenue code, a VAT-registered taxpayer claiming zero-rated sales must present official receipts that are attributable to a specific period.

Transactions with foreign firms outside the Philippines are entitled to zero-rated sales that do not translate to output tax. The term “zero-rated” must be written on a taxpayer’s receipts to qualify for a 0% VAT rating.

The firm filed its initial claim for refund worth the said amount with the Bureau of Internal Revenue VAT Credit Audit Division, which was partially granted in the amount of P12.13 million.

“It is clear in the National Internal Revenue Code and its implementing rules and regulations and the above-cited cases that the sale of goods must be evidenced by a sales invoice for tax purposes,” said the tax tribunal.

In a separate dissenting opinion, Associate Justice Roman G. Del Rosario said Carmen Copper’s claim should be partially granted since VAT invoices dated outside the period may be accepted in consideration of a firm.

“Owing to the exigencies in the mining industry, VAT invoices are issued after the final determination of the quantity and price of the exported minerals, which may fall outside the period of the claim,” he said.

The magistrate voted to remand the case to a CTA division to determine its refundable amount. — John Victor D. Ordoñez

First hotel in Panglao Shores expected to open by Q1 2024

THE tourism arm of Alturas Group of Companies is developing Panglao Shores in Panglao, Bohol. — COMPANY HANDOUT

By Justine Irish D. Tabile, Reporter

PANGLAO, BOHOL — The first hotel in Panglao Shores is expected to open its doors by the first quarter of 2024.

The tourism arm of Alturas Group of Companies last week launched Panglao Shores, a 50-hectare mixed-use estate that will have six hotels and resorts, as well as a residential and retail area.

Panglao Shores’ first hotel will have 188 room keys. It will be an expansion of South Palms Resort Panglao which currently has 78 rooms and villas.

The new hotel will be managed by an international company, said Hope Marie R. Uy, managing director of Panglao Shores and South Palms Resort. She declined to name the company.

“We are already building the hotel, we are actually already 50% done with the construction,” Ms. Uy said.

Panglao Shores will also have 37,000 square meters (sq.m.) of commercial space, over 1,000 residential units, 27-sq.m. communal area, international convention center, farmers market and community green spaces, international medical facility, among others. 

Ms. Uy said this development will help Bohol achieve its goal of attracting more meetings, incentives, conferences and exhibitions.

“Definitely we need a bigger communal area for events and conferences as I don’t think we have that here yet in Bohol,” she added.

The community estate aims to mirror the sustainability agenda and circular economy in its existing property called South Farm Panglao-Bohol where waste is recycled.

Bill Barnett, managing director of the estate’s lead consultant C9 Hotelworks, said that being sustainable is not only a conscientious choice but also helps reduce costs.

“If I have an energy-efficient hotel, my hotel will have lower operating costs,” Mr. Barnett said.

“Although you have to continue to invest in the technology, there is a return. The return is not only doing the good thing but there’s also an economic model on the return of investment,” he added.

Meanwhile, Ms. Uy said that having a solar-powered hotel is achievable as the group already tried it in one of its farms.   

“We have livestock farms located in Bohol and one of these farms is solar-powered so we already have a success story. An almost 100%-solar-powered pig farm, that’s already a success story,” she said. 

The whole estate will incorporate international building standards and materials.

Panglao Shores will also make use of smart technologies, electric transport and water treatment, reduce waste, and will eliminate single-use plastics.

The Alturas group plans to finish the whole project in two phases within 10 years. The initial phase includes all initial infrastructure needs like roads, as well as the first hotel.

“In our timetable, we are hoping that we are able to establish this project in 10 years. Early next year we are opening our first resort, and phase two is coming up with the commercial zone and hopefully by 2033 we’re all up,” Ms. Uy said.

Panglao Shores is a flagship project under the Tourism Infrastructure & Enterprise Zone Authority which aims to deliver outstanding economic and social benefits to their destinations. It will be under Panglao Bay Premiere Parks and Resorts Corp., a subsidiary of Alturas Group.

Japan film fest returns onsite

A SCENE from the animated film Belle

AFTER being held online for two years because of the ongoing COVID-19 pandemic, the Japan Foundation Manila returns to on-site screenings for this year’s edition of the Japanese Film Festival (JFF).

This year will also see the launch of two online sites supporting the festival, plus related sweets making workshops.

Ten full-length films will be screened in selected cinemas nationwide from Jan. 22 to Feb. 22.

Launched in 1997, the JFF, formerly known as EIGASAI, is presented and run by the Japan Foundation, Manila. It shows everything from drama to animé and mystery films, including recently released films.

“The Japanese Film Festival continues to offer new and contemporary takes on the development of Japanese cinema with a global perspective,” said Ben Suzuki, director of Japan Foundation Manila, at a press conference on Jan. 10 at the Red Carpet Cinema at the Shangri-la Plaza mall. “Films are a powerful vehicle for cultural exchange and bilateral relations We at the Japan Foundation Manila would like to take this opportunity to further strengthen ties between Japan and the Philippines through movie showing,” he said.

The festival kicks off on Jan. 22 at the Shangri-la Plaza in Mandaluyong City, with screenings until Feb. 3. There will also be simultaneous screenings at SM City Baguio, SM Seaside Cebu, SM City Davao from Jan. 27 to 31; followed by film showings at Cinematheque Manila, Cinematheque Negros, Cinematheque Iloilo, Cinematheque Davao, and Cinematheque Nabunturan on Jan. 28 and 29; and at the Cine Adarna in UP Diliman, Quezon City, from Feb.17 to 22. Admission is P100 per screening.
THE 10 FILMS

The festival opens with Hosoda Mamoru’s animated film Belle, starring the voices of Nakamura Kaho and Satoh Takeru. The 2021 film tells the story of a high school girl Suzu who lost the ability to sing when her mother died in an accident when she was young. One day, she is invited to join a virtual world known as “U” where she creates an alter-ego and becomes popular as the singer Belle.

Keisuke Yoshida’s Intolerance is about the father of a junior high school girl who dies in an accident after allegedly trying to shoplift. Wanting to prove her innocence, he doggedly chases down everyone involved. The drama film stars Arata Furuta and Tori Matsuzaka.

Keisuke Yoshida’s In Blue follows Urita (played by Kenichi Matsuyama) who loves boxing but fails to win in matches. Meanwhile, his younger rival Ogawa is close to becoming the Japan champion and is preparing to marry Urita’s childhood friend. Though everything he ever wanted is within Ogawa’s grasp, Urita continues to work toward his dream.

Maeda Tetsu’s And So The Baton Is Passed is about Yuko (Nagano Mei) a high school student who lives with her stepfather Morimiya (Kei Tanaka). Morimiya is her third father. Her mother, Rika (Satomi Ishihara), is a free spirited person who has remarried several times, and disappeared from Yuko’s life. Even though Yuko and her stepfather are not blood related, she is fully loved by him.

In Yoshino Kohei’s Animé Supremacy!, Hitomi Saito works for a major animation production company and has been given her first chance to direct a series, but storm clouds soon gather over the production. The film stars Yoshioka Riho, Nakamura Tomoya, Emoto Tasuku, and Ono Machiko.

Tachibana Masaki’s Blue Thermal follows Tamaki (Hotta Mayu) who wants nothing more than an ordinary life in college. Unfortunately, she damages a glider shortly after school starts and ends up taking a gofer position with the aviation club to pay back the damages. She then becomes fascinated with the world of the skies.

Zeze Takahisa’s In the Wake follows a series of baffling serial killings where the victims were tied up and left to starve. Just released from prison, Tone (Satoh Takeru) surfaces as a suspect but detective Tomashiro (Abe Hiroshi) cannot nail down conclusive proof.

In Shiraishi Kazuya’s Lesson in Murder, Masaya Kakei attends a low-ranked university, a situation he finds depressing. One day, he receives a letter from Yamato Haimura, a high-profile serial murderer convicted and sentenced to death for nine of the 24 killings he had been accused of. Reaching out to Masaya, Yamato freely admits his guilt but insists the ninth conviction was a frameup and implores him to find the true killer The film stars Abe Sadawo and Okada Kenshi.

Yuasa Masaaki’s Inu-Oh is an animated film about an encounter between the unusual looking Inu-Oh and the young minstrel Tomona. The two become inseparable friends and foster one another’s talents, releasing successive hit songs and gradually rising to stardom.

In Omori Tatsushi’s Every Day a Good Day, Noriko (Kuroki) and her cousin Michiko (Tabe Mikako) start taking tea ceremony lessons with Takeda, who has a reputation for being an extraordinary teacher. At first, Noriko is confused by the intricate rules, but after two years she comes to realize the profundity of the tea ceremony. The film stars Yoshimura Tomomi, Kanai Takaharu, and Kondo Takahiko.

JFF ONLINE, INDEPENDENT CINEMA
To strengthen the distribution of Japanese films, the Japan Film Festival has launched two online platforms for overseas viewers.

“As you know, the pandemic has completely changed the situation in the global entertainment industry. The Japanese film industry has faced a crisis with its annual box office revenue falling by about 50%,” Masafumi Konomi, producer of JFF and JFF Plus Online said in a video.

“Despite this, more than 500 films continue to be produced each year in Japan. Even though many films have been produced, hardly any Japanese films are released overseas. Therefore, the JFF distributes a variety of Japanese films not only at the annual cinema festival but also on JFF Plus Online,” Mr. Konomi said.

JFF Plus Online (https://jftor.org/events/jff-plus/about/) is a website for Japanese cinema with content primarily in English and Japanese. The featured films are based on the annual Japanese Film Festival.

The second streaming platform, launched in December 2022, is JFF+ Independent Cinema (https://watch.jff.jpf.go.jp/). It is a free online streaming program featuring 12 Japanese independent films. Its content runs until March 15.

SWEETS-MAKING WORKSHOPS
Inspired by one of the films in this year’s line-up, Every Day a Good Day, the JFF is also hosting wagashi or traditional Japanese sweets workshops on Jan. 20 and 21, facilitated by wagashi master Momoko Takai.

The Nerikiri Workshop, to be held on Jan. 21 (at 11 a.m. and 3 p.m.) at the Shangri-la Plaza’s Grand Atrium focuses on making decorative rice cake with white beans. Nerikiri is a type of Japanese wagashi made by kneading and mixing sweetened white bean jam, yam, and glutinous rice flour. Nerikiri visually reflects seasonal features and is tinted with different colors and molded into various shapes according to the season. Seats will be provided for non-participating viewers. To register for the workshop, visit https://japanesefilmfestph.jfmo.org.ph/side-events/.

Meanwhile, the Daifuku Workshop will be held online on Jan. 22, 11:30 a.m. It will be streaming on the JFM Instagram live and will focus on making rice cakes with sweet filling. Enjoyed during teatime, daifuku are soft rice cake (mochi) wrapped around a small round of sweet bean paste or other fillings like fruit, then covered with a light dusting of potato starch to keep them from sticking together. Daifuku also means “great luck.”

For more information on the films and workshops, and screening schedule details, visit https://www.facebook.com/jfmanila and https://japanesefilmfestph.jfmo.org.ph/.

Locad raises $11M to boost supply chain platform

LOGISTICS startup Locad has raised $11 million during a funding round as part of efforts to boost its supply chain platform in the Philippines and across the Asia-Pacific (APAC) region.

In a statement on Monday, Locad said the funding round was led by Reefknot Investments, which is a fund anchored by Temasek and Kuehne & Nagel.

“The series A funding round also saw participation from returning investors Sequoia India and Southeast Asia’s Surge, Febe Ventures, Antler, Foxmont, and Kaya Founders, as well as new investors Access Ventures and JG Digital Equity Ventures,” Locad said.

According to the startup, the funding round will be used to expand its supply chain platform that allows consumer brands in the Philippines and across the APAC region to automatically store, pack, ship, and track orders in a distributed, end-to-end supply chain as-a-service.

The startup added that the funding will be used to add warehouses, partner with transport operators, and hire talent across the region to scale in Southeast Asia and Australia.

“Locad’s platform, dubbed the logistics engine, syncs inventory across sales channels such as Shopify, Lazada, Shopee, Woocommerce, and TikTok Shop and orchestrates end-to-end order fulfillment for business-to-consumer (B2C) and business-to-business (B2B) orders, from storage to delivery, through a network of warehouses and shipping partners,” the startup said.

The startup’s logistics engine provides the backbone to support the e-commerce and omnichannel growth of global brands such as Havaianas, Century Tuna, Reckitt Benckiser, and Emma Sleep in the region.

It is also expanding the logistics access of Filipino brands such as DMD Skin Sciences, Rawbites PH, Nuprene Co, and Humble Sustainability.

Constantin Robertz, Locad chief executive officer and co-founder, said the startup seeks to provide “frictionless movement” of physical goods and data across the supply chain for small and medium enterprises (SMEs) and enterprise brands.

“As modern consumer brands in the Philippines and APAC are transforming to direct-to-consumer and omnichannel retail, we have seen that the supply chain and fulfillment infrastructure is a key barrier to scaling the business, and the bar is only rising further due to higher customer expectations for fast delivery, and the complexity driven by an increasing number of sales channels,” Mr. Robertz said.

Mr. Robertz said that Locad is eyeing to expand its presence in the Philippines over the next five years.

“In the Philippines, we already have fulfillment centers in Luzon, Visayas, and Mindanao. Over the next 5 years, we expect to build the region’s largest network of warehouses enabling next-day delivery in Tier 1 to 3 cities across the region, and make this available to brands and merchants in one integrated platform,” Mr. Robertz said.

Reefknot Investments Vice President Ervin Lim said that Locad’s operating model of localizing warehouses into the cities and keeping the inventory close to the consumers gives time and cost savings to brands and consumers.

“We believe that Locad’s logistics engine will spur greater participation in the digital economy as consumers outside of Tier-1 cities can now receive their orders 2-3x faster at a fraction of the usual cost,” Mr. Lim said.

Launched in the Philippines in 2020, the company expanded its regional presence over the past two years. It has warehouses and carriers across Singapore, the Philippines, Thailand, Hong Kong, and Australia.

“To date, Locad has served over 200 brands across the Philippines, Singapore, Thailand, Hong Kong, and Australia, and fulfilled more than 2 million transactions while maintaining a 99% same-day order fulfillment rate,” it said. — Revin Mikhael D. Ochave 

Palafox develops master plan for MCU campus

MANILA Central University (MCU) tapped Palafox Associates for the conceptual master plan for the renovation of its campus in Caloocan.

“The conceptual master plan was developed to embody MCU as a center of educational excellence, integrating academic, healthcare, and wellness in its design,” Felino A. Palafox, Jr., Palafox Associates principal architect-urban planner and founder, said in a statement.

As MCU will incorporate natural greenery into the school grounds, Mr. Palafox said it was easy to implement its design principle of “integral ecology.”

“This is balancing social equity with protecting and conserving natural environments, inclusive economic growth, culture, history, and interfaith spirituality,” he added.

MCU Vice-President for Planning and External Affairs Renato C. Tanchoco said the university is surrounded by 499 trees.

“With this new aesthetic, we’ve woven this aspect into the university’s overall design, while, at the same time, providing wide breathing spaces that’s both aesthetically pleasing and beneficial for safety in the new normal that are living in right now,” he said.

The new design for MCU’s facade is expected to be completed before school year 2023-2024, while the master plan will take around 20 years to be completed.

MCU said the renovation of the campus will not interfere with face-to-face classes and other activities.

Gov’t makes full award of Treasury bills

BW FILE PHOTO

THE GOVERNMENT fully awarded the Treasury bills (T-bills) it auctioned off on Monday as rates were only marginally higher across all tenors amid strong demand and expectations of slower monetary tightening by the Bangko Sentral ng Pilipinas (BSP).

The Bureau of the Treasury (BTr) raised P15 billion as planned from the T-bills it auctioned off on Monday as bids reached P45.891 billion, more than thrice the amount on offer.

Broken down, the Treasury raised P5 billion as planned via the 91-day T-bills with tenders reaching P16.321 billion. The average rate of the three-month papers rose by 1.8 basis points (bps) to 4.25% from the 4.232% quoted for the tenor last week, with accepted rates ranging from 4.23% to 4.27%.

The government also made a full P5-billion award of the 182-day securities as bids for the papers reached P15.2 billion. The six-month tenor was quoted at an average rate of 4.967%, inching up by 0.8 bp from the 4.959% seen in the previous week, with accepted rates ranging from 4.95% to 4.989%.

Lastly, the BTr raised the programmed P5 billion from the 364-day debt papers as demand for the tenor reached P14.37 billion. The average rate of the one-year T-bill rose to 5.448%, 5.5 bps higher than the 5.393% fetched for the tenor last week. Accepted yields ranged from 5.429% to 5.493%.

At the secondary market before Monday’s auction, the 91-, 182- and 364-day T-bills were quoted at 4.3887%, 5.0447%, and 5.413%, respectively, based on PHP Bloomberg Valuation Reference Rates data provided by the Treasury.

“The Auction Committee fully awarded bids for Treasury bills at today’s auction… The auction was 3.1 times oversubscribed with total bids reaching P45.9 billion. With its decision, the Committee raised the full program of P15 billion for the auction,” the BTr said in a statement on Monday.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message that the Treasury fully awarded its offer as rates rose only slightly amid dovish signals from the BSP on rates and banks’ reserve requirement ratios (RRR).

BSP Governor Felipe M. Medalla last week said the central bank is likely to raise benchmark interest rates by 25 or 50 bps at its meeting on Feb. 16 amid the need to anchor inflation expectations.   

He also said the pressure to match the US Federal Reserve’s policy tightening was waning, and the need for large policy adjustment is “no longer there.”    

The BSP’s policy-setting Monetary Board raised borrowing costs by a total of 350 bps last year to tame inflation. This brought its policy rate to a 14-year high of 5.5%.

Meanwhile, the Fed delivered 425 bps in rate hikes last year, which brought its own key rate to 4.25-4.5%. It will hold its first policy review for this year from Jan. 31 to Feb. 1.

Mr. Medalla likewise said last week that they may cut the reserve requirements for banks in the first half of 2023.

The RRR for big banks is currently at 12%, one of the highest in the region. Reserve requirement ratios for thrift and rural lenders are at 3% and 2%, respectively.

The BSP earlier committed to bringing down the RRR of big banks to single digits by this year.   

Meanwhile, a trader said in a Viber message that the T-bill yields fetched on Monday were within expectations.

“Looks like there’s not much interest to aggressively bid on T-bills since longer tenors offer yield pickup,” the trader added.

On Tuesday, the BTr will offer P35 billion in 20-year Treasury bonds (T-bonds) with a remaining life of 19 years and 10 months.

The Treasury wants to raise P200 billion from the domestic market in January, or P60 billion through T-bills and P140 billion via T-bonds.

The government borrows from domestic and external sources to finance its budget deficit, which is capped at 6.1% of gross domestic product for this year. — A.M.C. Sy

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