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NLEX Drive and Dine continues to grow

DEVELOPED and managed by MPT Mobility, NLEX Drive and Dine is said to “bring together a diverse mix of retail, outlet, leisure, and convenience offers for families and friends to unwind, relax, and create fun memories.”

Strategically set in the last stop before heading to Skyway or Mindanao Avenue Smart Connect, NLEX Drive and Dine is considered the top motorist toll service facility along NLEX, with an average daily foot traffic count of over 23,000, as well as an average daily vehicle count of over 7,000 on regular days and over 10,000 during peak season. Its expansiveness, variety of popular partner establishments, and high foot and vehicle traffic make it the ideal site for brands that are looking to increase their awareness and presence along the country’s longest expressway.

“More than being the leading rest stop, NLEX Drive and Dine has become the go-to destination for comfort and convenience of NLEX motorists and adjacent communities,” said MPT Mobility President and Metro Pacific Tollways Corp. (MPTC) CEO Rodrigo Franco. “This has led to an increase in visitors and demand for more food, shopping, and recreational options. So, we must grow and answer this need.”

NLEX Drive and Dine expansion includes the planned construction of five new buildings and a multi-level parking facility. USDS, the country’s leading branded outlet store for shoes, clothes, and home improvements, has already joined the roster and is targeting to open in October 2022. Building 1 is currently occupied by Nike, Levi’s, Oregon Premium Outlet Center, Casio, and A+ Premium Tech Dept. Building 2 still has vacant units, at approximately 150 square meters (sq.m.) each, at the ground and second floors. Building 3 has four vacant units, each at 200 sq.m. and with two floors. Buildings 4 and 5 are two-storey structures with six 200-sq.m. vacant units each.

For leasing inquiries, contact 0919-081-3972 or email jsvelasquez@mptmobility.com.

NLEX Drive and Dine is one of the seven existing operating units under MPT Mobility. MPT Mobility is the innovations arm of Metro Pacific Tollways Corp. (MPTC) whose aim is to improve the overall Pinoy traveling experience through tech-forward products and services and integrating mobility infrastructure all over the Philippines. For more information, visit www.mptmobility.com.ph.

3D clothing visualization: the answer to fast fashion pollution?

3D CLOTHING visualization by Benilde Fashion Design and Merchandising students

FAST fashion, or the mass production of cheap clothing, has contributed to textile waste, water and microfiber pollution, greenhouse gas emissions and soil degradation on a global scale.

To combat the rapidly changing trends which pressure consumers to purchase the latest, many practitioners and experts have turned to 3D clothing visualization as a sustainable alternative.

“It is the future of the creative process,” fashion designer-educator Roxoanne Bagano-Dizon explained. “It is creating clothes using 3D programs. With the help of cutting-edge technology, we can simulate the clothes and have it worn by an avatar.”

Ms. Bagano-Dizon, who owns an atelier that specializes in bespoke garments for weddings, debuts, and formal events, stressed that 3D clothing visualization also fosters creativity.

“All the changes can be achieved with just a click of a finger — you can edit the fit by adjusting it in the 3D environment,” Ms. Bagano-Dizon elaborated. “These garments are as good as their physical counterparts. It is very precise, which reduces the rate of returns as well as the carbon footprint.”

Clothing designer, graphic artist, and illustrator Zak Gonzaga added that this innovative approach makes the process easier. “With the advancement of technology, you can now see what the garment would look like even before it is actually produced,” he stated.

“Clients are able to decide easily on what to get since the design is almost real,” Mr. Gonzaga added. “It allows us to accurately know how much raw material is needed instead of buying it ahead of time.”

The Fashion Design and Merchandising Program of the De La Salle-College of Saint Benilde, where Mr. Gonzaga and Ms. Bagano-Dizon both share their knowledge and expertise as fashion educators, has incorporated 3D technology to train the next generation of style innovators.

For this technology, institutions need devices such as laptops or desktops, supplementary devices like tablets and a subscription to CLO, one of the most advanced, intuitive, and cohesive 3D garment design software.

3D clothing visualization is familiar in the international scene with global fashion schools incorporating it into their curriculum. Industry giants such as Tommy Hilfiger, Calvin Klein, and DVN have likewise invested in digital design.

“Digital fashion designers are now in-demand and skills on 3D clothing visualization is a must-have,” Ms. Bagano-Dizon said. Meanwhile, Mr. Gonzaga added that a background in computer-designing is an advantage. “Programs such as Adobe Photoshop and Illustrator are stepping stones to start learning 3D clothing programs,” he noted.

“It is the future,” Mr. Gonzaga said. “It is the next best thing after the invention of the sewing machine.”

Kia Philippines lowers sales target to 5,000

By Revin Mikhael D. Ochave, Reporter

KIA PHILIPPINES President Emmanuel A. Aligada said the company has lowered its sales target for the current year, as economic challenges such as the falling value of the Philippine Peso are making it hard for the automobile manufacturer to meet its original target of 6,000.

The company is now targeting “a little over 5,000 sales” for 2022, Mr. Aligada said on the sidelines of a press conference in Parañaque City last week.

Kia Philippines sold 3,748 units last year.

On the external challenges affecting the company, he said: “[First is] the on-and-off situation on the coronavirus disease 2019 (COVID-19); second is the economy itself. After the election, the foreign exchange moved all the way up to P56 (to $1).”

Despite the lower sales target, Mr. Aligada said that the company is still expecting strong sales growth towards the latter part of 2022.

The models driving the growth for Kia Philippines include its grand utility vehicle Carnival, mid-size sport utility vehicle Sorento, crossover Stonic, and subcompact sedan Soluto.

“[As for] our sales, we are at 30% growth from the January-to-June period. That 30% growth should further improve towards the end of the year,” Mr. Aligada said.

“Everybody is hit with supply concerns. We have been arranging for supplies to come in, and the fourth quarter is usually the kick-up. That’s the reason why we are confident that we will hit more than 30%, probably closer to 40%,” he added.

Further, Mr. Aligada disclosed that Kia Philippines is eyeing 50 operational dealerships across the country by 2024.

He said that some of the areas being targeted by the company include Northern Manila, parts of Central Luzon, Batangas, and Bicol.

“We now have 42 operational dealerships in the country. The objective is that by 2024, around 50 dealerships will be running,” Mr. Aligada said.

“The objective is to expand them (existing dealerships) to serve the communities they are in. The objective is that by 2023, we all have 50 locations appointed, with operations going up by 2024,” he added.

At the same time, he said Kia Philippines is looking forward to the signing of the free trade agreement (FTA) between the Philippines and South Korea.

“We’re eagerly anticipating it. That’s substantial if we can get it (FTA) sooner,” Mr. Aligada said.

Earlier in the year, Mr. Aligada said that the FTA would help Kia Philippines save 5% on taxes since the company sources the vehicles sold locally from South Korea.

“That’s a good sign for us to be more active in the market because of that 5% that we would be able to save on tax. A good number of our vehicles are sourced from Korea and together with other goods that would benefit from this treaty agreement, yes, we look forward to being more competitive,” Mr. Aligada previously said.

The Trade department recently said that the FTA between the Philippines and South Korea is estimated to be signed by November this year. The two countries began negotiations in June 2019 and concluded in October 2021.

Second round of MSCC Miata Spec Series roars off

The Mazda MX-5 action unfolds anew at the Clark International Speeday in Angeles, Pampanga. — PHOTO FROM MAZDA PHILIPPINES

SIXTEEN RACE-PREPPED Mazda MX-5 roadsters raced to the checkered flag during the second round of the Manila Sports Car Club (MSCC) Miata Spec Series.

Changes to the rules at this stage of the four-round series saw the formation of three different classes — the GT Radial Novice Class, the Rota Masters Class, and the Shell Pro Class. “Not only does this reflect the diversity of the racing talent present, but it also aims to nurture and develop up-and-coming racing talents to hone their talents in succeeding years,” said Mazda Philippines in a release.

Allan Uy in Car No. 99 continued to dominate as he took the overall win in Races 3 and 4. In the Shell Pro Class, Mr. Uy took Race 3 with a 1.192-second margin over Tyson Sy in Car No. 05, who is also racing in the Shell Pro Class. Angie King in Car No. 12 completed the podium finishers.

Mr. Uy struck anew in Race 4 with a 4.317-second lead over Ms. King. Paul Henderson Perez, driving in the Shell Pro Class, ended up in third.

In the GT Radial Novice Class, Jaime Miguel Almario took victory in Race 3 with Dino Imperial in second and Kirk Baltazar in third. In Race 4, it was Javier Toledo who took the top spot, followed by Jaime Miguel Almario and Kirk Baltazar.

The Rota Masters Class Races 3 and 4 were won by Windy Imperial, while Lito Ignacio took home second place in Race 4. Providing even more excitement in Round 2, Pilipinas Shell VIPs and guests were treated to a taxi ride in the MSCC Miata Spec Series cars by the racers.

The MSCC Miata Spec Series MX-5 uses a showroom-stock 2.0-liter Skyactiv-G engine mated to a six-speed Skyactiv manual transmission. In order to extract even more grip, the suspension components have been upgraded and reinforced with Cusco sports coil overs and chassis braces.

A custom stainless steel exhaust system, developed by local company Drift Xaust, maximizes air flow and enhances the aggressive racing note emanating from the MX-5’s 181hp power plant. A Sparco competition steering wheel, racing seat, harness and safety net, along with a new Cusco racing roll cage, are all installed in each car to ensure control and safety. All Miata Spec Series cars come fitted with GT Radial Champiro SX2 tires mounted on custom 17 x 8.0 J Rota Strike wheels.

The MSCC Miata Spec Series is sponsored by Pilipinas Shell Petroleum Corp., GT Radial tires, and Rota Wheels. Round 3 is scheduled on Oct. 29 (Races 5 and 6), and Round 4 will be held on Nov. 26 (Races 7 and 8). All races will be held at the Clark International Speedway.

Style (09/05/22)

SHANGRI-La Sealy Sleep Boutique

SSI brands join in 9.9 sales

SSI is stepping up for the holidays beginning on Sept. 9 with 9.9 promos and sales. At Nine West, buy two products get a third at P99 when shopping in-store and through The Specialist. Enjoy 40% off for a minimum purchase of P4,000 on Old Navy pieces. Get a free large tech pouch from Coach for every single-receipt net purchase of P20,000. SSI Life offers up to 50% off on products from participating brands including Steve Madden, Anne Klein, Banana Republic, Armani Exchange, Kurt Geiger, Pazzion, Coach, Marc Jacobs, Kenneth Cole, Polo Ralph Lauren, Jessica, Marks and Spencer, DKNY, Pazzion, Hogan, Tod’s, Michael Kors, Women’s Secret, Clarks, Kurt Geiger, Anne Klein, and Old Navy. Find a wide array of selections on multi-brand website Trunc.ph and get an additional 10%off (brand exclusions apply), or order through their at-home concierge service, The Specialist, through e-mail at customerservice@ssigroup.com.ph, phone call at 8-830-5000, Viber at 0917-552-9359, or send a message to www.facebook.com/SSILifePH.

Glamor in Natori, Josie Natori’s new collections

FOR Fall, Natori and Josie Natori’s new collections are modernizing opulent embellishments, silhouettes and hand-crafted embroidery that speak to the past, present and future. Luxurious fabrics such as silk, velvet, jacquard, matelassé, and taffeta are used in silhouettes that are elevated and chic, yet have a sense of ease. The autumnal palette of greens, purples, reds, and cognac are suitable for all climates. As there is an emphasis on prints in Natori, this season it has introduced the Infinity print which is symbolic of yin and yang. Key items have been updated this season, taking inspiration from Hollywood glamor. These include bustiers, a variety of dresses, statement knitwear, the puffer, the cocoon, plush faux furs, and supple leatherette. Natori is available at Rustans Makati and Rustans Shangri-La.

HA.MÜ champions avant-garde in new ensembles

YOUNG designers Abraham Guardian and Mamuro Oki’s artisanal local brand HA.MÜ continues to take an experimental, avantgarde approach: upcycled deconstructed garments, textured patchworks and threadworks and the distinct character in a clash of colors, layers and prints. The creative duo, who both have Fashion Design and Merchandising degrees from the De La Salle-College of Saint Benilde, have specially curated the most popular pieces from their milestone collections. Standouts include looks from their Spring/Summer 2022 Tokyo debut collection Flowers of Youth. Selections include puffed sleeved- uniform and side drape shirts, deconstructed boy scout tops, ampalaya blouses, raglan tees, circle puzzle and tailored irregular hem-lined vests. The line likewise includes blob pants and slants, 2D round silhouette and denim shorts, skirts and apron dresses, pinafore frocks, curved jeans and printed trousers, as well as a range of statement accessories from hats, caps, and bags to magnetic string of stone necklaces. The duo has likewise prepared their diffusion RTW brand, müü.haa, which invites fashion enthusiasts into a new way of understanding school uniforms. It features approachable and easy-to-wear shirts and shorts, pajama sets, denim jeans, wrap-around overskirt and dresses, coats and trousers in cottons, twills, and light and breathable pinstripe fabrics. It also has limited edition prints and patterns in the form of Doodletime button-downs, quilted vests and accessories, among others. The pair have opened the doors of their studio and work room for consultations and fittings. For more information, visit https://www.facebook.com/hamustudios.

Criselda’s High Glamor Collection for the Holidays

RUSTAN’s unveils Criselda’s Fall-Winter 2022 collection entitled “Flor-Arts,” inspired by the playful interplay of large-scale flowers and the graphic art prints of 1960s pop art. The collection features a palette of soft, romantic hues and bright, holiday colors in red, emerald, yellow and purple. Criselda’s familiar silhouettes are dramatic but updated, offering volume with a new sense of modernity and ease. The collection features party-ready tunics and caftans of every drape, material, and length. Bold, painterly splashes and geometrics offer pops of color and a lively injection of prints, while a black-and-white, polka-dot tunic reimagines the LBD (little black dress) for New Year’s Eve 2023. Florals are the central motif of every Criselda collection, and they abound in FW22’s details: dangling from fabric earrings, pastel-sweet and embroidered onto a pretty jacket and dress, and as chic accessories. Criselda Lontok is available at Rustans Makati, Rustans Shangri-La, Rustan’s Alabang, Rustan’s Gateway, Rustan’s Cebu and rustans.com.

Sealy’s Posturepedic coming soon to Power Plant

SEALY Posturepedic, a global leader in providing premium-quality spring mattresses, has been at the forefront of mattress innovation for more than 140 years now. It has revolutionized sleep technology, starting with the introduction of its patented spring technologies. Sealy Philippines, managed and distributed by Focus Global, Inc., was established in 2016. Since opening its flagship store at the Shangri-La Plaza, Mandaluyong, the brand has expanded to six showrooms: The Bed Room, Ayala Malls Manila Bay, Parañaque; Twenty-Four Seven, McKinley BGC; Focus Global, Inc., Pioneer, Mandaluyong; and the newly opened exclusive Sealy showroom in Greenbelt 5, Makati. The Sealy Posturepedic mattresses will also soon be available to those who frequent Power Plant Mall in Makati.  Sealy Philippines offers six mattress collections that address users’ varying lifestyle and therapeutic requirements. These collections range from extra-soft mattresses, to extra-firm mattresses that offer unmatched support, to ultra-responsive Adjustable Beds.

Lady Rustan collection of work-to-holiday-party staples

UNDER the helm of fashion designer Pia Regala Hebron, Lady Rustan (LR) has mastered the art of refined Filipino workwear. Office dressing in Manila’s tropical climate tends to skew towards the more casual, but Ms. Hebron creates a balance of relaxed sophistication that is consistent throughout LR’s collections. Fall Winter 2022 is all about workwear reimagined for the party season, with bright dashes of color and cheerful silhouettes jazzing up the regular corporate ensemble. White, red, pink and a spectrum of greens dominate the season’s collection, softened by neutrals in light beige, camel, and peach. Silky blouses and sleeveless tops coordinate with tailored ankle pants and wide-leg trousers. New details such as puff sleeves and lace add refreshing touches. A deep garnet wrap dress and a showstopping pink number with an asymmetrical hem compete as prime choices for this year’s noche buena. Lady Rustan is available at Rustans Makati, Rustans Shangri-La, Rustan’s Alabang, Rustan’s Gateway, Rustan’s Cebu and rustans.com.

Avon offers 24-hour liquid foundation

THOSE trying to find a foundation that can hold up all day with just one application, Avon makes it possible with the Avon Power Stay 24HR Liquid Foundation. This foundation is formulated with Comfort Last Technology which locks pigment and gives full-day coverage with just one application. It comes in Ivory Pink, Porcelain, Shell, Light Beige, or Nude. The Avon Power Stay 24HR Liquid Foundation has a transfer and smudge-proof matte finish plus a lightweight and breathable feel, plus SPF 10 protection. The formula is oil-free, non-greasy, dermatologist-tested and non-comedogenic. Follow Avon Philippines on Facebook and Instagram for more updates. Shop for Avon products at www.avonshop.ph or contact your local Avon representative.

Twists on tradition in Karen Kane’s FW ’22 collection

IN A season that’s commonly affiliated with return: to school, to familiar routines, to favorite recipes, and more, Karen Kane is “hoping to offer new ways of seeing things we already know so well,” according to a press release. “Our Fall collection is filled with plenty of unexpected favorites: plush coats crafted by hand, dresses with a little bit of sparkle, heritage-inspired prints, and much more. This season, it’s truly all about the details.” Karen Kane is available at Rustans Makati and Rustans Shangri-La.

Two-step skin care routine with Myra

AN OLDER generation may know Myra for that iconic orange pill called Myra E, but Myra also has a face care line that features a facial wash and facial moisturizer that can help hit skin goals at an affordable price. With a facial wash and facial moisturizer, Myra offers a two-step vitamin-powered skincare routine that includes five vitamins for healthy glowing skin: Vitamin E (an antioxidant that protects the skin from aging), Vitamin C (brightens skin and targets hyperpigmentation), Vitamin B3 (a.k.a; Niacinamide, that helps fade dark spots), Vitamin B5 (moisturizes and soothes sensitive and irritated skin), and, Vitamin B6 (reduces oiliness). Myra Facial Wash (P75 for a tube, P15 for a sachet) and Myra Facial Moisturizer (P105 in a tube, P11 in a sachet) are available at leading supermarkets and drugstores nationwide, or online from Shopee and Lazada. To learn more, visit www.myra.com.ph.

Desert chic, ocean-inspired collection for FW22

LOTUS Resort Wear makes wardrobes vacation-ready all year round. For Fall Winter 2022, the label is dropping two holiday capsules inspired by the hues of the desert and sea. The first capsule, entitled Desert Escape, features kaftans, cover ups, dresses, and separates inspired by the colors of sandy dunes. The collection includes soft linen dresses and drawstring pants in coral, light yellow, and dusty pink; flowy tunics in tribal prints; and bright florals. Details such as fringes, braided straps, and beading add to the overall, bohemian vibe. The second capsule, entitled Bluer Than Blue, takes its inspiration from the beauty of the coastline and skies. Think splashy blues and frothy whites tempered with shades of cobalt and navy. The collection features slip dresses in linen, tropical leaf tunics in airy cotton gauze, and comfy coordinates in cotton eyelet. A standout, knee-length skirt with rope ties completes this capsule. Lotus is available at Rustans Makati, Rustans Shangri-La, Rustan’s Alabang, Rustan’s Gateway, Rustan’s Cebu and rustans.com.

Metro Pacific group eyeing to develop insurance product

THE healthcare arm of the Metro Pacific Investments Corp. (MPIC) is looking to develop a health insurance product, its chairman said.

“[Another aspect] that we would like to develop in the healthcare service is to create a health insurance product for those who can least afford healthcare,” MPIC Chairman Manuel V. Pangilinan said during the National Public Relations Congress 2022 on Friday.

“If they are covered by insurance, then there’s the ability for them to afford the relevant medical care, and our hospitals would help out,” he added.

The portfolio of Metro Pacific Hospital Holdings, Inc. (MPHHI) now consists of 19 hospitals in Luzon, Visayas, and Mindanao. Its hospitals serve an estimated 3.6 million patients annually.

The hospital group also operates six provincial cancer radiotherapy centers, two healthcare colleges, and one central laboratory nationwide.

“Most of our doctors, especially in the topline hospitals, are older doctors, so we need to produce a young cadre of doctors that would enter the stream of these hospitals,” Mr. Pangilinan said.

He noted that 50% of hospital bills are doctors’ bills.

“About 20-25% are medicine and the balance are hospital services such as rooms, diagnostics, and laboratories,” he said.

On bringing down doctors’ bills, he said: “If you could deploy [the new doctors] to the primary-care clinics, then that’s the starting point for them to step into the shoes of the older doctors, and at the same time change the nature of the compensation of the doctors to become employees of the hospitals.”

“So, there’s a fixed monthly salary plus incentives that we should give them. That’s one way to bring down the doctors’ bills.”

MPHHI’s core net income declined 48% to P370 million in the first half, mainly due to higher personnel costs with additional headcount and higher depreciation from completed capital expenditures on the resumption of its expansion plans.

MPIC, which controls power, toll roads, hospital and rail businesses, posted an attributable net income of P9.5 billion in the first semester, down 9% from the same period last year when it booked gains from asset sales.

The company’s core net income for the first half was P7.5 billion, up 24% from P6 billion in the previous year.

Mr. Pangilinan has said the company remains steadfast in its pursuit of other potential growth areas, particularly in agriculture, tourism, and logistics.

Last year, MPIC recognized gains from the sale of power generation company Global Business Power Corp. and Thai toll road operator Don Muang Tollway Public Co. Ltd.

MPIC is one of three key Philippine units of First Pacific, the others being Philex Mining Corp. and PLDT, Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Arjay L. Balinbin

TMSPH leads demo project of data-measuring vehicle advertising

PHOTO FROM TOYOTA MOBILITY SOLUTIONS CORPORATION

LAST MAY 17, Toyota Mobility Solutions Philippines Corp. (TMSPH) launched a demonstration project of a mobility service to optimize advertising revenues by specifically measuring the effectiveness of wrap advertisement of fleet vehicles based on vehicle location information using the GPS data sent from mobile APP.

TMSPH spearheads the project with the cooperation of Flare, Inc. (Flare), a company that develops and operates mobility-related businesses such as wrap advertising; Toyota Financial Services Philippines Corp. (TFSPH), Toyota’s automobile sales finance company; and Toyota Daihatsu Engineering & Manufacturing Co., Ltd. (TDEM), Toyota’s regional office in Asia. The project will be promoted using 10 fleet vehicles throughout Metro Manila, Laguna, and other bordering cities for six months. During the demonstration, TMSPH will serve as an advertiser by promoting TFSPH’s Kinto One full-service lease product.

Unlike outdoor advertising in fixed locations such as billboards, the demonstration project enables the collection of a broad range of data and knowledge relating to advertising effectiveness by using cars that move in wide areas for advertising. It can also measure advertising effectiveness more accurately by using and checking GPS-based vehicle position information sent from drivers’ smartphones and real-time traffic data collected at each location, instead of using data obtained from a periodic traffic census.

Through the optimization of advertising rates based on detailed advertising effectiveness, TMSPH aims to offer more reasonable and satisfactory mobility advertising services to not only advertisers who desire to maximize cost efficiency but also corporate customers who want to reduce costs for owning and using cars by receiving advertising revenue.

In the future, it could be considered that the advertising area and time is optimized to meet advertisers’ individual needs by, for example, an intensive allocation of advertising vehicles in specific areas during a sale. The project also has the potential of creating a variety of new mobility businesses, including flexible and meticulous advertising campaigns using digital advertising vehicles and operational management of fleet vehicles through an effective use of apps and GPS.

TMSPH President Cristina Arevalo said, “We are always excited to try new technologies, and Flare has given us the opportunity to do so. We are looking forward to working closely with Flare in testing their system and application to improve our internal marketing studies.”

Garlic crop needs to be fortified against pests, agri chamber says

PHILSTAR FILE PHOTO/ ERNIE PEÑAREDONDO

THE domestic garlic crop needs to be made more resilient against pests and diseases to ensure adequate supply, an industry official said.

“We need to conduct continued research and development for improved technology specially on the garlic planting materials which through the years, according to experts, deteriorated in yield per hectare due to asexual propagation or clones of one another that became vulnerable to viral infections, pests and diseases,” Philippine Chamber of Agriculture and Food, Inc. President Danilo V. Fausto said in a Viber message.

“We need to have good planting materials that are free from viral and other infections that can quickly multiply in large numbers on a sustained basis. Just like in other crops the proven way to do this is through plant tissue culture to improve our yield,” he added.

In tissue culture, disease-free garlic planting materials can be mass produced in laboratories for eventual field planting, according to Mr. Fausto.

“Our current yield per hectare is around 2.5 tons to 4 tons compared to other countries that produce 10 to 15 tons per hectare such as China. We believe that making available good and disease-free garlic planting materials can match this yield if given attention by the government,” he added.

For 2022, the Department of Agriculture projects a garlic supply of 82,950 metric tons.

Based on the latest data from the DA, the retail price of imported garlic is at P120 per kilogram. There is no available data for local garlic.

Former Agriculture Undersecretary Fermin D. Adriano said that the Philippines imports more than 90% of its garlic requirements, mostly from China and India.

He said that the industry also lacks post-harvest facilities like dryers, storage and transport.

“China and India produce very cheap garlic. India has been offering technical assistance and joint ventures with potential local investors but none has taken the offer. Farms are too small because of prolonged implementation of agrarian reform. We need farm consolidation,” he added. — Luisa Maria Jacinta C. Jocson

Timothée Chalamet sinks his teeth into Venice cannibal flick

TIMOTHÉE Chalamet in Bones and All

VENICE — Bones and All starring Timothée Chalamet and Taylor Russell is an old-fashioned love story and road movie with a twist — the star-crossed protagonists are cannibals struggling to live with their horrific affliction.

“I feel like it has been one of the weirdest parts of my career,” Mr. Chalamet told Reuters ahead of the movie’s premiere last Friday at the Venice Film Festival.

The picture reunites Mr. Chalamet with director Luca Guadagnino, the Italian auteur behind Call Me By Your Name, the 2017 gay coming-of-age-film that helped propel the young US actor to international stardom.

Since then, Mr. Chalamet has played a string of often intense, troubled young men. But Bones and All takes things several stages further as he hooks up with Russell and the pair cross the US Midwest wrestling with, and sometimes succumbing to, their inner demons.

Mr. Chalamet said he hoped the audience would look beyond the gore and see the humanity at the heart of the story.

“I hope it doesn’t get misconstrued as a horror film or a cannibal film, or a film that is fake edgy that is trying to shock you,” he said.

“It is about so much more than that. It is about the human experience. It is about being alive at a time when there wasn’t the Internet and being totally disenfranchised and finding love that makes you feel seen.”

Before finding Mr. Chalamet, the film follows Ms. Russell as she seeks out her long-lost mother and, for the first time, confronts a world of fellow “eaters,” including Sully, played by Mark Rylance, with whom she shares an appalling meal.

Although the feral eating scenes are likely to shock many cinema-goers, Ms. Russell said they were not hard to act out.

“The goriness, if you would call it that, (has) a tactile element to it because it is so practical to act. So you don’t have to think too much about it. You just have to do it. The emotional stuff is what you worry about,” she told Reuters.

It is the second year running that Mr. Chalamet has headlined a major film at Venice, following on from his 2021 blockbuster Dune, and hundreds of fans waited under a fierce summer sun to catch a glimpse of their hero stepping out onto the red carpet.

“Man, it’s amazing. This is great, all this energy, I feel like I’m back home,” Mr. Chalamet said after stepping ashore on the Lido, a long island in the Venice lagoon, where the world’s oldest film festival plays out. — Reuters

Treasury bills, bonds likely to fetch higher rates

BW FILE PHOTO

RATES of government securities (GS) on offer this week are expected rise further as monetary authorities in the US and the Philippines remain hawkish and amid the peso’s continued decline.

The Bureau of the Treasury (BTr) will offer P15 billion in Treasury bills (T-bills) on Monday, made up of P5 billion each in 91-, 182-, and 364-day debt papers.

On Tuesday, the BTr will auction off P35 billion in reissued 3.5-year Treasury bonds (T-bonds) with a remaining life of three years and five months.

Traders expect yields to move higher at this week’s T-bill and T-bond auctions amid the hawkish stances of the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP).

“We expect the upward trend in yields to continue given that the Fed’s hawkish stance and its effect on the peso may push the BSP to front-load rate hikes,” the first trader said. “T-bills will probably get higher bids again and the BTr may opt to reject if that is the case.”

The first trader expects T-bill rates to rise by 10-20 basis points (bps) from the last awarded yields and sees the reissued 3.5-year bond to be quoted at 5.1% to 5.3%.

“Expect yields of T-bills to remain high until there are clear signs that inflation has peaked already. For the 3.5-year issuance, yields are expected to be in the 5.3% to 5.45% range,” the second trader said.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort likewise said yields on government securities on offer this week could rise further amid the peso’s continued depreciation, which could lead to more aggressive hikes from the BSP, hawkish signals from the Fed, and following the government’s retail Treasury bond (RTB) offering that helped mop up excess liquidity in the market.

Fed Chair Jerome H. Powell said at the Fed’s Jackson Hole symposium on Aug. 26 that the US central bank will hike interest rates as needed and keep them high for some time to combat rising inflation.

The Fed next meets to discuss policy on Sept. 20-21. It has raised rates by 225 bps so far since March, including back-to-back 75-bp hikes in June and July.

The US central bank chief’s hawkish speech caused the dollar to scale new heights in the past week, causing other currencies to weaken, including the Philippine peso.

The peso on Friday slumped to a new record low of P56.77 per dollar, down by 35 centavos from its P56.42 finish on Thursday, data from the Bankers Association of the Philippines showed.

Year to date, the peso has weakened by P5.77 or 11.31% from the P51 close on Dec. 31, 2021.

BSP Governor Felipe M. Medalla last week said the Fed’s next policy move will be a “big factor” to consider for the Monetary Board at their Sept. 22 meeting.

Mr. Medalla earlier said the BSP may need to respond if the Fed remains hawkish due to its spillover effects on the market that could affect inflation.

The BSP has increased borrowing costs by 175 bps since May in a bid to keep rising prices in check.

The central bank sees inflation averaging 5.4% this year, beyond its 2-4% target. Headline inflation hit a near four-year high of 6.4% in July, bringing the seven-month average to 4.7%.

A BusinessWorld poll of 13 analysts yielded a median estimate of 6.4% for August inflation, well within the BSP’s 5.9-6.7% forecast for the month and unchanged from July pace.

Meanwhile, the BTr raised a total of P420.448 billion from the 5.5-year retail bonds it offered from Aug. 23 to Sept. 2, with P108.517 billion coming from the bond exchange program. The RTBs carry a coupon of 5.75% and will be issued on Sept. 7.

At the secondary market on Friday, the 91-, 182-, and 364-day T-bills were quoted at 2.3830%, 3.3304%, and 3.8911%, respectively, based on the PHP Bloomberg Valuation Reference Rates published on the Philippine Dealing System’s website.

Meanwhile, the three-year tenor was quoted at 5.0753% while the four-year bond fetched a yield of 5.3769%.

At last week’s T-bills auction, the Treasury did not award the papers even as bids reached P17.289 billion, above its P15-billion offer.

Broken down, the Treasury turned down all bids for the 90-day T-bill even as total tenders reached P6.103 billion, above the P5-billion plan. Had the Treasury made a full award, the rate of the three-month debt papers would have surged by 61.5 bps to 2.685%.

The BTr also refused to award any 182-day securities even as total bids came in at P8.252 billion, higher than the programmed P5 billion. The average rate of the six-month T-bill would have gone up by 22.5 bps to 3.561% had the government made a full award.

Lastly, the Treasury rejected all tenders for the 364-day debt paper as demand stood at only P2.934 billion, below the P5-billion offer. Had the Treasury accepted these bids, the average yield on the one-year instrument would have jumped by 61.7 bps to 4.399%.

Meanwhile, the reissued 3.5-year papers to be offered on Tuesday were last auctioned off on Aug. 2, where the BTr made a full award of the fresh papers worth P35 billion at a coupon rate of 5.25%, with the average rate standing at 5.153%.

The BTr wants to raise P200 billion from the domestic market this month, or P60 billion through T-bills and P140 billion via T-bonds.

The government borrows from local and external sources to help fund a budget deficit capped at 7.6% of gross domestic product this year. — Diego Gabriel C. Robles

VMC acquisition of LT Group’s ethanol firm to improve operational efficiency — analysts

By Justine Irish D. Tabile

VICTORIAS Milling Company (VMC) acquisition of Asian Alcohol Corp. is expected to lower its operating costs and improve profit margins, analysts said.

“I believe it is a huge deal [for it] will expand VMC’s ethanol and power businesses while also lowering operating costs in terms of labor and supply chain,” Timson Securities, Inc. Head of Online Trading Marc Kebinson L. Lood said in a Viber message.

“It’s more of creating better operating efficiencies within the Lucio Tan Group of companies. With the high Global inflation, it would be better for companies to create synergies to maintain or improve their margins within their spheres,” Diversified Securities, Inc. Equity Trader Aniceto K. Pangan said in a text message.

Meanwhile, Mercantile Securities Corp. Head Trader Jeff Radley C. See said that there will be little movement in terms of price action for both companies since both are owned by Lucio Tan Group.

“Maybe Tanduay needs cash for operation and thought VMC might benefit if they sell it to them,” Mr. See said in a Viber message.

On Friday, LT Group, Inc. disclosed that Tanduay Distillers, Inc., together with Prior Holdings, Inc. and Castelbridge Investment, sold all outstanding shares of Asian Alcohol to VMC for P2.21 billion.

In the sale and purchase agreement signed on Sept. 1, Tanduay Distillers as well as the other two shareholders agreed to sell a total of 738.33 million shares of Asian Alcohol to VMC with the transaction expected to be completed before the year ends.

VMC has focused on becoming a fully integrated sugar business by diversifying into ethanol and power.

In the quarter ended May 31, revenues of VMC increased by 53.8% to P2.15 billion from P1.4 billion recorded in the previous year.

Sales in its ethanol segment are the third largest contributor at P594.71 million in the quarter, more than four times of last year’s P140.39 million.

Meanwhile, the company’s attributable net income went down to P243.6 million, lower by 26.7% than last year’s P332.2 million.

“For VMC, this will definitely be positive to further sustain their growth while Tanduay will further improve their balance sheet position to focus more on improving its growth stature with the acquisition by VMC,” Mr. Pangan said.

Mr. Lood said that the acquisition conveys that the group believes in the bright future ahead of VMC “although it is still in corporate rehabilitation.”

“The buyout will not only boost the group’s profit growth and liquid assets, but it will also aid in the manufacturing process and power generation. It will help them become more efficient with their operations in the future, which investors should consider,” Mr. Lood added.

On Friday, shares of LT Group climbed by 6 centavos or 0.69% to P8.76 apiece, while shares of VMC declined by 5 centavos or 2% to P2.45 each.

CA affirms insurance firm’s P4.87-M surety bond liability to travel agency

PHILSTAR FILE PHOTO

THE Court of Appeals (CA) affirmed the Insurance Commission’s (IC) order to Centennial Guarantee Assurance Corp. (CGAC) to pay its P4.87-M surety bond obligation to Travel Managers International, Inc.

In an 11-page decision on Aug. 31 and made public on Sept. 1, the CA Thirteenth Division ruled the IC did not commit an error in its order as CGAC was bound to pay the surety bond since its client failed to pay its outstanding balance to the travel agency.

“Thus, when Great Times failed to pay the balance of P4.87 million despite respondent Travel Managers’ demand to pay, the petitioner CGAC, as surety, became solidarily bound with Great Times for the payment of the said amount to the respondent,” according to the ruling penned by Associate Justice Nina G. Antonio-Valenzuela.

“The surety has the burden to prove that the surety has been discharged by some act of the creditor.”

A surety bond is a three-party legal agreement between a firm that needs a bond, an obligee, and a surety company that sells the bond.

Travel Managers, the respondent, is accredited by the International Air Transport Association to issue real-time electronic international and local airline tickets to customers.

The travel agency earlier asked the IC to compel CGAC to fulfill its client’s surety bond outstanding obligation of P4.87 million.

Great Times, a travel agency without accreditation, asked Travel Managers to issue international airline electronic tickets for its clients.

Travel Managers required the unaccredited agency to pay a surety bond of P5 million, which Great Times sought to fulfill through the insurance firm.

The respondent had already issued 81 electronic tickets to Great Times’ clients, which brought the bond to a total of P5.28 million.

Great Times made several partial payments that brought the pending bond amount to P4.87 million, which it failed to pay completely.

“It bears stressing, however, that although the contract of suretyship is secondary to the principal contract, the surety’s liability to the obligee is nevertheless direct, primary, and absolute,” said the appellate court. — John Victor D. Ordoñez

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