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Italy bans truffle hunting after swine fever outbreak poses risk

REUTERS

IN AN unusual twist of culinary fortunes, a swine-disease outbreak in Italy means the harvest season for its renowned truffles is getting cut short.

African swine fever was detected in wild boar this month in the country’s northwest. To quell further spread of the illness, which is highly contagious and fatal for pigs, officials issued a six-month ban on activities from mushroom-collecting to hunting and mountain biking to keep people from areas where the boar roam.

That includes scouting for truffles, the prized mushrooms shaved on pasta and infused in oils that can cost thousands per kilogram. Italy’s Piedmont region, where the infected pig was found, is famous for the delicacy and hosts an annual showcase in Alba for haute cuisine fans. Truffles grow on tree roots and are often scouted deep into the forest, with dogs trained to sniff out their musky scent.

The restrictions — announced this week by the agriculture and health ministries — are being enforced in some municipalities and are likely to expand across the region, according to Daniele Stroppiana, a truffle hunter and merchant in Piedmont. January marks the end of the season for white truffles, the most expensive variety which has sold at €6,000 per kilogram this year. But the ban will hurt the harvest for lower-valued black truffles that runs through March.  

“We hope that the ban won’t help the import of truffles from abroad. Slovenia, Croatia, Romania and Iran are producers,” Stroppiana said by phone.

Truffle markets have been upended in the past two years as the pandemic shuttered restaurants and halted tourism, curbing demand for high-end food. Stroppiana said he secured a special permit for truffle searching during the lockdowns, but buyers were lacking.

Still, the new collection limits could ultimately aid future harvests of the elusive mushrooms.

“Truffles would rest for a season and there may be more the next year,” Stroppiana said. “Intensive collecting is making truffles more difficult to find than before. A rest would be bad in economic terms, but not for natural cycles, for sure.” — Bloomberg

Data of Globe customers can be donated to Odette victims 

GLOBE.COM.PH

CUSTOMERS of Globe Telecom, Inc. can now convert their unused data into rewards points that can be donated to victims of Typhoon Odette.

The telecommunications company said that starting Jan. 15, its customers can go to the rewards section of the GlobeOne app and convert data from the account of their choice to help typhoon victims via donations.

“Data conversion is as follows: 1 gigabyte (GB) = P10; 5GB = P50; (and) 10GB = P100,” Globe said in a statement.

“Mobile customers both prepaid and postpaid, as well as home broadband customers both prepaid and volume-based postpaid, can convert their points into donations via the new GlobeOne app,” the company added.

According to Globe, the donations will be used in the relief efforts of Ayala Foundation, GMA Kapuso Foundation, Rise Against Hunger Philippines, Tzu Chi Foundation, ABS-CBN Foundation, and PGH Foundation in areas affected by Typhoon Odette.

The telecommunications firm added that donations via Globe rewards and GCash are still open for interested individuals.

“Our aim is to arm our customers with as many options as possible to help and reach our kababayans (compatriots) affected by Typhoon Odette — all from the safety of their homes. This first-in-the-industry Data-As-Currency offer gives our customers means not only to maximize their data subscriptions, but also extend a helping hand,” Globe Chief Commercial Officer Issa Guevarra-Cabreira said. — Revin Mikhael D. Ochave

Peso may strengthen ahead of BoP data

BW FILE PHOTO

THE PESO may strengthen this week ahead of the release of central bank data and as the market has already priced in expectations of policy tightening by the US Federal Reserve.

The local unit closed at P51.11 per dollar on Friday, declining by seven centavos from its P51.04 finish on Thursday, based on data from the Bankers Association of the Philippines.

Still, it strengthened by 24 centavos from its P51.35-per-dollar close a week earlier.

Hawkish signals from US Federal Reserve officials caused the market to opt for the safe-haven greenback and led to the peso’s weakness last week, UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion said in an e-mail.

In a congressional hearing for his confirmation, Fed Chair Jerome H. Powell on Tuesday said the economy should be able to weather the impact of the current surge and is ready to face tighter monetary policy, Reuters reported.

Separately, Fed Governor Lael Brainard said the central bank is prepared to quell inflation by raising interest rates.

US inflation rose by 7% year on year in December, the highest level since June 1982.

Meanwhile, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort in a Viber message said there was cautious sentiment in the market last week amid the Omicron-driven infection spike.

Active coronavirus disease 2019 (COVID-19) cases have climbed by more than 30,000 since Wednesday, based on data from the Department of Health. New cases reached a record high of 39,004 on Saturday, bringing active infections to 280,813.

For this week, Mr. Asuncion said the market will look at the impact of Typhoon Odette on food supply and inflation. He said investors have already priced in signals of policy tightening from the Fed.

Crop damage from Typhoon Odette reached P13.4 billion as of Jan. 14, based on data from the Department of Agriculture.

Meanwhile, Mr. Ricafort said the release of the latest balance of payments (BoP) data and developments in the country’s COVID-19 situation will affect sentiment this week.

December BoP data is expected to be reported on Jan. 19, based on the central bank’s advance release calendar.

For this week, Mr. Ricafort gave a forecast range of P50.90 to P51.30, while Mr. Asuncion expects a wider trading band of P50.80 to P51.30 per dollar. — L.W.T. Noble with Reuters

The Matrix co-producer Village Roadshow considering strategic options — WSJ

KEANU REEVES and Carrie-Anne Moss in The Matrix Resurrections (2021) — IMDB.COM

VILLAGE Roadshow Entertainment Group, which has co-produced Joker and The Matrix, is considering taking on an investor or selling itself, the Wall Street Journal reported on Friday, citing sources familiar with the matter.

Village Roadshow’s controlling shareholder, Vine Alternative Investments, has tapped PJT Partners, Inc. and held talks with potential buyers, the report said, adding that the process may not result in a deal.

The company, which has reportedly been making original content as streaming platforms begin to take centerstage, has been under pressure with Netflix, Inc., Walt Disney Co.’s Disney+, and AT&T, Inc.’s HBO Max spending billions of dollars on content.

Village Roadshow has in the past collaborated with Disney and AT&T’s Warner Bros. and recently was behind the Metaverse-themed movie Ready Player One and Morgan Freeman-starrer Going In Style.

The company is among many production houses to consider strategic options as valuation of their content has been rising. The publication earlier reported that Ron Howard and Brian Grazer-founded company Imagine Entertainment is in talks to sell a majority stake to Centricus, an investment firm.

Village Roadshow, Imagine Entertainment, and Centricus did not immediately respond to Reuters requests for comment. — Reuters

Lexus Philippines turns 13

Banking on a solitary dedicated dealership, Lexus Philippines has steadily grown its portfolio and business. — PHOTO FROM LEXUS PHILIPPINES

FROM THE TIME of its founding, Japan-headquartered luxury marque Lexus has been earnestly pursuing the spirit of innovation and untiring evolution in luxury, and it continues to take up the challenge of building vehicles that exceed customers’ expectations.

Lexus first opened its doors in the Philippines 13 years ago, and has since been considered the “gateway to a world of unparalleled luxury for the most discerning Filipino car buyers.” The Lexus lineup of luxury sedans, coupes, crossovers, and SUVs showcase not only the latest in cutting-edge technology but also exhibit the artistry of “takumi” master craftsmen. But beyond the vehicles themselves, the company says it prides itself in creating amazing experiences.

The past year saw the launch of the new LS and the newest variant of the Lexus IS, which marked the resurgence of these luxury sedans. In a release, Lexus said that the new LS “is the pinnacle of luxury craftsmanship,” the flagship sedan of the lineup which also offers personalization to suit the selective taste of each customer. Built under the expert eye of takumi master craftsmen, the coming together of glass, metal, wood, and fabric to create a luxury vehicle’s interior can only result in art.

The all-new IS sport sedan also made its debut with an additional variant said to be suitable for first-time luxury car buyers. The Lexus IS 300h was born and bred at the Toyota Technical Center Shimoyama Test Track — where the toughest and most challenging roads in the world have been recreated. This suits the IS perfectly, as every facet of its performance was developed on that extremely challenging on-road course, all for the sake of delivering an experience like no other to drivers around the world. Moving forward, the new IS sets the bar for the dynamic handling of all future Lexus models.

Before 2021 ended, Lexus introduced the new ES — a model renowned for its quiet, smooth performance and high levels of cabin comfort and spaciousness. The current changes focus on strengthening these qualities, refreshing the car’s styling, improving ride and responsiveness, and introducing new, technology-led equipment features.

Lexus Philippines also unveiled the MyLexus Mobile App. With it, owning and maintaining a Lexus is now easier and more convenient than ever. Available for download for both Android and iOS users, the MyLexus Mobile App makes maintaining a Lexus, shopping for a new model, or learning more about the world of Lexus all possible from a handheld mobile device.

Last March 2021, Lexus held the world premiere of “LF-Z Electrified,” a conceptual BEV that incorporates driving performance, styling, and technologies envisioned for realization by 2025. It features ideal dynamic balance achieved through the optimal placement of the battery and electric motors, as well as, among others, a new four-wheel driving force control technology known as Direct4 that generates a superior and highly flexible driving performance, setting the LF-Z Electrified apart from conventional vehicles. Also, in the near future, Lexus plans to incorporate technologies and advanced infotainment functions that will further enrich its customers’ mobility experience.

Lexus said it has “always been at the forefront of making innovative technology available to those who have embraced green motoring. For Lexus in the Philippines, hybrid technology has always been as much about outright performance as it has been with improving fuel-efficiency. Today, the LS, IS, RX, and NX hybrid variants are available locally.”

Lexus Philippines added that “customers in the Philippines can expect a future-focused road ahead with Lexus prioritizing personalization, innovation, hybrid vehicles, and crafted experiences. With its promise of delivering superior quality, car enthusiasts can expect even grander things from Lexus in the future.”

For more information, visit lexus.com.ph or the company’s social media pages on Facebook and Instagram, @lexusmanila. To arrange a consultation with a personal sales consultant, visit the Lexus Remote page at https://fal.cn/3eSWW.

PLDT acquires top libero Kath Arado, De Leon, Mendrez

TOP LIBERO KATH ARADO (8) — PETRO GAZZ ANGELS FB PAGE

PLDT picked up last season’s top libero Kath Arado from the free agency on Sunday to strengthen its floor defense as it shoots for a big finish in the 2022 Premier Volleyball League Open Conference tentatively unfurling Feb. 16 in Paco, Manila or Tagaytay.

The High Speed Hitters also brought in middle blocker Jessey de Leon and outside hitter Mean Mendrez, who suited up along with Arado for 2021 third placer Petro Gazz in Bacarra, Ilocos Nore.

Mses. Arado, De Leon and Mendrez will join a few remnants of the team that included Eli Soyud, Chin Basas and Nieza Viray.

They’ve let go of multi-titled coach Roger Gorayeb, Isa Molde, Aiko Urdas, Jorelle Singh, Shola Alvarez and Alyssa Eroa among others.

The Manny V. Pangilinan Group of Companies-owned franchise had also tapped George Pascua in succeeding Gorayeb and changed their moniker with hopes of contending for the championship.

The squad is expected to announce its other recruits soon.

The volleyball community was abuzz with talks that the High Speed Hitters could land popular middle blocker Mika Reyes, who was left without a team after Sta. Lucia Realty disbanded.

The club finished seventh out of 10 with a 3-6 record a season back. — Joey Villar

Debt yields decline on dovish BSP

YIELDS on government securities fell last week after the Bangko Sentral ng Pilipinas (BSP) signaled it will not raise benchmark rates in the first half despite hawkish statements from the US Federal Reserve.

Debt yields, which move opposite to prices, went down by an average of 10.69 basis points (bps) week on week, based on the PHP Bloomberg Valuation (BVAL) Service Reference Rates as of Jan. 14 published on the Philippine Dealing System’s website.

At the short end of the curve, yields on 91-, 182-, and 364-day Treasury bills (T-bills) decreased by 6.35 bps (to 0.9438%), 3.77 bps (1.1246%), and 8.17 bps (1.4809%), respectively.

The belly of the curve likewise fell as rates of the two-, three-, four-, five-, and seven-year Treasury bonds (T-bonds) dropped by 28.39 bps (to 2.3173%), 26.84 bps (2.9657%), 23.89 bps (3.5654%), 19.97 bps (4.0517%), and 8.53 bps (4.6148%).

The long end closed mixed as 10-year paper inched down by 0.14 bps (to 4.8243%), while the 20- and 25-year T-bonds rose by 4.35 bps (5.0079%), and 4.07 bps (4.9952%), respectively.

A bond trader said in a Viber message that the market zeroed in on the BSP’s promise of no hikes on the first half of 2022 and “basically market ignored the hawkish Fed.”

Another bond trader said local yields dropped last week after the Bureau of the Treasury (BTr) partially awarded the reissued papers it offered despite the hawkish rhetoric of the US central bank.

“We haven’t had any full bond auction award since the RTB (retail Treasury bond) issuance in December, but there are still some funds just waiting to be invested, so the local bond market continues to benefit from the liquidity,” the second trader said in a separate Viber message.

Inflation eased to fall within the 2-4% central bank’s target in December, suggesting that the BSP may have some elbow room to keep its policy rates lower for longer, the second trader added.

BSP Governor Benjamin E. Diokno said on Tuesday that the central bank is unlikely to raise borrowing costs in the first semester of the year as it waits for the economy to recover.

Meanwhile, after investors asked for higher yields even with easing inflation, the BTr partially awarded on Tuesday its offer of reissued five-year debt with a remaining life of four years and two months.

Despite attracting P58.277 billion in bids, The Treasury raised only P22.126 billion during the exercise, lower than the P35-billion program. 

The papers were awarded at an average rate of 4.012%, higher by 25 bps when the series was last offered on Nov. 3.

Had the government made a full award, the bonds would have fetched an average rate of 4.051%.

On the other hand, the Fed decided in December to end its monthly $120-billion bond-buying program after nearly two years into the pandemic starting this March. It also signaled that it could raise its near-zero policy rate three times this year.

During his renomination hearing in US Congress on Tuesday, Fed Chair Jerome C. Powell said the US economy should weather the coronavirus disease 2019 surge brought by the Omicron variant and was ready for the start of interest rate hikes as its December inflation accelerated to its fastest pace since 1982, Reuters reported.

For this week, both bond traders expect the yield curve to continue its downward slope, with the first saying maturities for the next two weeks will probably support government securities.

“Expect lower yields as bond maturities for the next two weeks will probably support government securities,” the first trader said.

The second trader said yields, especially the front end of the curve, will trend sideways with downward bias due to reinvestment requirements ahead of the bond maturities this month.

“Aside from that, the market will look to the results of the new 10-year FXTN (fixed rate Treasury notes) issuance for justified directional cues,” the second trader said.

The Treasury will offer fresh 10-year papers worth P35 billion on Tuesday. — B.T.M. Gadon

BDO rises as November bad debt ratio improves

IMPROVING asset quality of the Philippine banking system drove traders to stock up on shares in Sy-led BDO Unibank, Inc. last week.

A total of 9.54 million BDO shares worth P1.21 billion were traded from Jan. 10 to 14, data from the Philippine Stock Exchange (PSE) showed, making it the sixth most actively traded stock in the market.

BDO’s share price grew by 5.3% on a week-on-week basis to P129.50 apiece on Friday. Since the first trading day of the year, the stock’s price climbed by 7.9%.

“The movement in BDO’s price is mainly because of the steady improvement in the banking industry, both in terms of asset quality and expansion in the total loan portfolio,” Regina Capital Development Corp. Head of Research Luis A. Limlingan said in a Viber message.

Bad debts held by the Philippine banking system as a share of its total loan portfolio eased in November as the nonperforming loan (NPL) ratio reached an eight-month low of 4.35%, preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed.

This was lower compared with October’s 4.42% but remained elevated from the 3.81% recorded in November 2020.

NPLs include credit left unpaid at least 30 days beyond the due date. They are considered risky assets and have a high risk of default, which could spell losses for the banks.

After rising to a 13-year high of 4.51% in July and August, the lenders’ NPL ratio has fallen as pandemic-related restrictions were relaxed, allowing businesses to expand operational capacity.

Soured loans held by the industry rose by 19% annually to P481.88 billion in end-November. Meanwhile, total loans disbursed grew by 4.3% year on year to P11.08 trillion as of November.

The central bank earlier said the NPL ratio could reach 5-6% by end-2021 before peaking at 8.2% by 2022.

BDO, for its part, recorded a 3.1% NPL ratio in the nine months to September.

Mr. Limlingan said the improvement in the bank’s NPL is likely to be stalled in the short term due to the spike in the coronavirus disease 2019 cases.

“However, this should only be temporary,” he said. “As business activities start to pick up again, hopefully in [the second half of 2022], the bank will likely go back to its path to recovery.”

Unicapital Securities, Inc. Equity Trader Cristopher Adrian T. San Pedro attributed BDO’s movement last week to “bullish January effect” on index heavyweights including financial issues, “fueled by the prospects of strong fourth quarter 2021 gross domestic product (GDP) report and earnings season.”

“The hawkish [Federal Reserve] on interest rates and strong US dollar might also prompt the BSP to recalibrate its monetary policy in the short term which could also benefit the banks in the country,” he said in a Viber message.

The Fed said in December that it would end its monthly $120-billion bond-buying program, aimed to shield the US economy from the economic fallout brought by the pandemic, starting this March. It also signaled that it could raise its near-zero policy rates three times this year.

Meanwhile, BSP Governor Benjamin E. Diokno said the local central bank is unlikely to raise its policy settings in the first semester as it waits for the economy to recover.

Currently, the country’s key rate — the overnight reverse repurchase rate — stands at a record low of 2%. Overnight lending and deposit rates are at 1.5% and 2.5%, respectively.

Mr. Diokno expects the economy to grow within the 7-9% government forecast this year. He also sees inflation settling near the midpoint of the 2-4% central bank target band for 2022. 

BDO’s attributable net income almost doubled to P32.44 billion in the nine months to September as its loan provisioning normalized.

“We remain optimistic on the bank’s loan growth driven by consumer and corporate loan as renewed economic activity coupled with the vaccine rollout increased mobility,” Mr. San Pedro said.

He forecasts BDO’s net income to range between P32 billion and P35 billion in 2021. For this year, he pencils in a P46-billion bottom line for the bank.

Mr. Limlingan expects a “strong double-digit rebound” in BDO’s net profit in 2021, “nearly doubling” its 2020 net income.

BDO’s net income is “likely to inch closer” to its pre-pandemic level this year, he added.

“It’s kind of challenging to say where the stock is headed in the coming weeks,” Mr. Limlingan said, giving his resistance level at P133.80.

“However, there could be some pullback, as BDO is trading above its moving averages. BDO’s reliable support is at P121.60.”

Mr. San Pedro sees the bank to have P126 consolidated support level and P135 resistance, “with a potential target of P150 to P160 if it stays above P130 levels.” — Ana Olivia A. Tirona

Stocks to move sideways as COVID-19 cases rise

BW FILE PHOTO

SHARES are seen to move sideways this week amid surging coronavirus disease 2019 (COVID-19) cases in the country.

At the end of Friday’s trading, the bellwether Philippine Stock Exchange index (PSEi) dropped 46.41 points or 0.63% to close at 7,261.34 while the broader all shares index fell 14.81 points or 0.38% to finish at 3,855.30.

Week on week, the main index rose 250.23 points versus the 7,011.11 close recorded on Jan. 7.

Cristina S. Ulang, First Metro Investment Corp. head of research, said the local market is projected to go sideways as investors await COVID-19 cases in the country to peak.

“Any sign of such will push the market higher in the approach to the Chinese New Year which is a seasonally strong period for share prices,” Ms. Ulang said via Viber message.

On Jan. 15, the Department of Health announced that the Philippines recorded a new record high for its single-day tally of new COVID-19 cases at 39,004, bringing the total number of infections to 3,168,379.

Online brokerage 2TradeAsia.com said in a market note that the country’s daily COVID-19 case tally will remain a catalyst for the market’s performance this week.

“Average value turnover rose to P6.22 billion, up 11.78% week on week, while foreigners turned to net buyers for P10 million on average (versus) P90-million average net selling last week,” 2TradeAsia.com said.

“After reaching the highest daily COVID-19 cases on record this week, there are arguments that the country has reached/near to reaching the crest in Omicron’s infection curve,” 2TradeAsia.com said.

Timson Securities, Inc. Trader Darren Blaine T. Pangan said in a mobile phone message that market participants may be looking forward to the listing of residential developer Haus Talk, Inc. on PSE’s small, medium, and emerging board on Jan. 17.

Haus Talk has priced its initial public offering shares at its ceiling of P1.50 apiece.

With the P1.50 per share price tag, the company may raise up to P750 million from the sale of 500 million primary common shares.

“Investors may digest the announcement that the National Capital Region (NCR) will remain under Alert Level 3 until the end of the month, instead of reverting to stricter movement restrictions,” Mr. Pangan said.

Malacañang last week said NCR will remain under Alert Level 3, along with other areas across the country, from Jan. 16 to Jan. 31 following the surge in COVID-19 cases seen to be caused by the Omicron variant.

According to 2TradeAsia.com, the PSEi’s immediate support is seen at 7,000, while resistance will range from 7,400 to 7,500.

“The closest resistance that the index may retest this week lies at the 7,450 area, while immediate support may be pegged at 7,000,” Timson’s Mr. Pangan said. — Revin Mikhael D. Ochave

Kenya starts warehouse receipt system to curb agriculture losses

REUTERS

KENYA began its farm produce warehouse receipt system to help curb post-harvest losses to as low as 10% from 40% and boost growers’ liquidity ahead of a planned commodities exchange.

Farmers can now deliver produce including corn, beans, rice and coffee to one of five newly set up warehouses across the country, hold on to a receipt and wait to sell when the price if favorable. In the meantime, they can use the receipt to access benefits, such as credit.

Agriculture accounts for about a fifth of Kenya’s gross domestic product and employs about 70% of the people in rural areas. Farmers of commodities, however, usually lose money when prices fall, partly because of inadequate or inappropriate storage.

Kenyan lawmakers passed the legislation to back the system in June 2019. The East African nation now has five certified warehouses operated by the state-owned National Cereals and Produce Board. The warehouses are located in the capital, Nairobi, as well as in Nakuru, Eldoret, Kitale and Meru, where farmers, agro-processors and traders can deliver their produce.

The receipts can be transferred, traded and used as collateral for credit and to access inputs, Hamadi Boga, principal secretary at the ministry, said on Thursday in a statement.

“It will subsequently reduce price volatility and improve liquidity when farmers make use of it as the first step toward a commodity exchange,” he said.

In 2016 Kenyan authorities sought consultants to set up a commodities exchange. The government is yet to announce when it will begin operations. — Bloomberg

Style (01/17/22)

Michael Kors collaborates with Ashya on bags

IN a collaboration with Ashya, a young accessories brand founded by American/Jamaican duo Ashley Cimone and Moya Annece, Michael Kors has launched two exclusive, limited-edition bags: the Moya Multi Bag and the Ashley Bolo Bag, debuting this month. As Michael Kors approached his 40th anniversary, he wanted to celebrate the milestone by supporting the future of the fashion industry and decided to provide a unique opportunity to an emerging brand — offering them the global reach, distribution and platform of the Michael Kors company to help bring their brand to a larger audience. In addition, he wanted to share his personal advice and experience, as well as the mentorship of his team. The decision to collaborate with Ashya was a natural choice — a New York-based brand inspired by travel, dedicated to the marriage of style and pragmatism, and helmed by two talented, thoughtful and entrepreneurial designers. The gender-neutral, leather Ashya X Michael Kors bags feature a custom print that incorporates the MK Signature logo print in a new pattern inspired by West African weaving techniques. The Moya Multi bag can be worn as a crossbody or a belt bag. For added versatility, it features two lined pockets, each featuring a leather card sleeve, and a roomy interior. The Ashley Bolo bag is equally adaptable, and can be worn around the neck, the waist or cross-body. It features one lined compartment with a leather card sleeve, and is meant for carrying everyday essentials with hands-free ease. In the Philippines, Michael Kors (MK) is exclusively distributed by Stores Specialists, Inc., and is located at Central Square in Bonifacio High Street Central, Greenbelt 5, Newport Mall, Power Plant Mall, Rustan’s Makati, and Shangri-La Plaza Mall and online at Trunc.ph and Rustans.com.

Sperry and John Legend team up on capsule collection

ICONIC footwear brand Sperry and singer-songwriter John Legend (JL) partnered to design and introduce a new capsule collection of men’s footwear for Holiday 2021. Mr. Legend has served as Sperry’s Global Brand Ambassador since 2020. This is the first time that Sperry and Legend have collaborated on product design. The two styles, the Signature Boat Shoe and the Commodore Boot, are an evolution of the classic Sperry silhouette. Each is designed to complement and reflect John Legend’s personal style, featuring luxe suedes and leathers, soft lambskin linings, and Vibram soles. Design details inspired by John Legend such as a keyboard-print on the footbed, quotes by the musician printed on the inside of the tongue and subtle hand-stitched JL branding can be found throughout the collection. The Sperry x John Legend Signature Boat Shoe is part loafer, part boat shoe, and comes in butter soft suede and offers a pared-down aesthetic with no hardware or shoelace eyelets. Instead, laser cut details suggest the traditional 360 lacing which is a signature element of Sperry’s classic boat shoes. A fixed lace detail on the tongue allows for easy slip on and off. The Sperry x John Legend Commodore Boot plays off of Sperry’s best-selling chukka and raises the height to complement Mr. Legend’s weekend wear. This style is made with Sperry’s Plushwave technology, and the shoe is extremely light and extra comfortable. A clear outsole reveals a holiday-themed red and green tartan, inspired Mr. Legend’s holiday album and features the word “Legendary” in the pattern. The Sperry x John Legend Collection is now available on Sperry.com.ph and select Sperry retail stores in TriNoMa, SM Megamall, and SM Mall of Asia on Jan. 16.

NACIFIC launches new skincare line

KOREAN skincare brand NACIFIC has launched its newest skincare line focused on products and ingredients meant to soothe and help repair problematic, acne-prone, and sensitive skin. Called the Origin Red Salicylic Acid, the new line includes a toner, spot cream, and a wash-off serum. Each product contains Dermaclera, a patented soothing ingredient derived from Cynanchum atratum extract which helps soothe sensitive skin that is easily irritated due to external factors. Other active ingredients include AHA, BHA, among other ingredients. The NACIFIC Origin Red Salicylic Acid is available starting Jan. 17 on the brand’s official Shopee store.

Ford General Santos moves to bigger location

PHOTO FROM FORD GENSAN

FORD GENERAL SANTOS (GenSan) reported in a release that it has moved to a “new and bigger location, with the dealership facility now showcasing a more globally aligned exterior and interior look and feel to offer customers better retail experience.”

The dealership now rises along the National Highway, Barangay Makar in General Santos City. Boasting a bigger floor area of 1,700 square meters, Ford GenSan also gets a six-car display area and 15 service bays on the ground floor. It is now expected to be able to serve more customers in the province and nearby areas.

The second-floor body repair and paint area covers 3,640 square meters of floor space and features 30 bays. The third floor serves as the facility’s new vehicle stockyard that can store up to 77 vehicles. Its service annex has a total floor area of 2,000 square meters which can accommodate an additional eight service bays — with provisions for service expansion.

The new Ford GenSan showroom also features the new branding guidelines of Ford called Ford Signature — offering a customer-focused design, atmosphere, and interior that enhance the overall Ford dealership experience.

“The expansion is a testament to the growing preference towards our vehicle lineup and after-sales offerings among customers in GenSan. Opening a bigger Ford dealership facility is another milestone for us as we see more customers in GenSan drive their own Ford,” said Ford Philippines Managing Director Michael Breen.

Added Millennium Cars Mindanao, Inc. (MCMI) Dealer Principal and President Willy Q. Tee Ten, “We would like to thank our partners in Ford Philippines for their full support while we evolve from where we started to where we are today — a vision turned into a reality for all of us here in Ford GenSan. Now, we are not just situated in a bigger and better facility, but also in a more strategic location that would bring us closer to serving our clients in GenSan.”

To celebrate its opening, Ford GenSan is giving an P8,888 cash discount on all Ford vehicles purchased from Jan. 17 to 31, on top of current sales promotions being offered by Ford Philippines. During the same period, the first eight Ford customers per day who will have their vehicles serviced will get free engine detailing.

Ford GenSan is open from Monday to Saturday from 8 a.m. to 5 p.m. for both its sales and service operations. Customers can reach Ford GenSan via telephone numbers (083) 825-1111 or (083) 552-7777 or via e-mail at fordmindanaomarketing@autohubgroup.com.