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Car sales surge 42% in October

PHILIPPINE STAR/ MICHAEL VARCAS

VEHICLE SALES accelerated 42.4% in October, driven mainly by strong commercial vehicle sales as economic activity continues to pick up.

A joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) showed vehicle sales reached 32,146 units in October, higher than the 22,581 units sold in the same month last year.

“The continued double-digit growth recorded anew in October is boosting optimism for the automotive industry, further accelerating full recovery this year from the pandemic disruptions,” CAMPI President Rommel R. Gutierrez said in a separate statement.   

Commercial vehicle sales jumped 59.5% to 23,852 units in October, accounting for 74.20% of the industry’s total sales for the month.

Sales of light commercial vehicles (LCVs) grew 58.5% to 18,184 units, followed by Asian utility vehicles (AUVs) which surged 84.6% to 4,688 units.

On the other hand, passenger car sales rose 8.8% to  8,294 in October, accounting for 26% of the industry’s total.

For the first 10 months of the year, CAMPI-TMA members saw a 30.9% increase in vehicle sales to 280,300 units.

“Sustaining this growth trend in the remaining months of the year gives us confidence that the industry will be able to emerge strong, exceeding its forecast speaking from the current business-as-usual standpoint,” Mr. Gutierrez said.

Commercial vehicle sales increased 45.6% to 211,948 units sold, driven by double-digit growth in LCVs and AUVs.

However, passenger car sales slipped 0.4% to 68,352 units in the 10-month period.

Toyota Motor Philippines Corp. remained the leader with a 50.10% market share, after selling 140,425 units so far this year.

Other top manufacturers include Mitsubishi Motors Philippines Corp. at 14.51% or 40,666 units sold; Ford Motor Co. Phils., Inc. at 6.65% or 18,645 units sold; Nissan Philippines, Inc. at 6.34% or 17,762 units sold; and Suzuki Phils., Inc. at 5.77% or 16,167 units sold.

CAMPI earlier said it targets to sell 336,000 units this year, up by 17% compared with the 268,488 units sold in 2021. — Revin Mikhael D. Ochave

Working towards a fiber-powered future

The Entrepreneur Of The Year Philippines 2022 has concluded its search for the country’s most undaunted and unstoppable entrepreneurs. Entrepreneur Of The Year Philippines is a program of the SGV Foundation, Inc., with the participation of co-presenters the Asian Institute of Management, the Department of Trade and Industry, the Philippine Business for Social Progress, and the Philippine Stock Exchange. BusinessWorld will feature each finalist for the Entrepreneur Of The Year Philippines 2022 ahead of the awards ceremony on Nov. 21.

Dennis Anthony H. Uy
CEO and Co-Founder
Converge ICT Solutions, Inc.

AS A CHILD, Dennis Anthony H. Uy migrated from China to Pampanga with his parents and siblings. Working for his uncle’s business, Mr. Uy was exposed to entrepreneurship and discovered his passion for technology at a young age as he recalled repairing all sorts of electrical devices. In high school, he took vocational courses after school hours to learn more about hardware and electronics, and eventually studied programming at a computer school.

This passion for technology and entrepreneurship compelled him to establish Converge ICT Solutions, Inc. (Converge), which has been recognized as the fastest-growing fiber internet service provider in the Philippines by the International Finance Awards.

Mr. Uy’s first ventures as an entrepreneur involved selling and renting out Betamax tapes; and reselling computers such as IBM system mainframes. When computers became commoditized, he saw the speed at which technology was evolving and this inspired him to shift gears and start going into networking products. This involved installing Sun Microsystems servers for niche markets such as banking, government usage, and multinational companies.

Realizing that Betamax tapes were a sunset industry, Mr. Uy closed his shop and started the first cable TV service provider in Angeles City called Angeles City Cable Television Network (ACCTN). Groundwork for ACCTN was just starting when Mt. Pinatubo erupted in 1991.

Instead of fleeing the city, Mr. Uy was determined to pursue the cable business. He set up his company’s office and cable TV network control center in his parents’ home. His first big project came when ACCTN started providing cable TV for the Mimosa Leisure Estate.

“We provided news and public affairs, which was important to the citizens recovering from the effects of the Pinatubo eruption,” he said. While other cable companies were using analog set-top boxes, ACCTN offered digital cable boxes.

Always trying to be one step ahead of the competition, Mr. Uy introduced another innovation to his clients, establishing internet service provider ComClark Network and Technology Corp. ComClark offered dial-up internet service, and this was followed by the launch of Instanet, a prepaid internet card. ComClark gradually expanded its customer base and suite of services, and it evolved into Converge in 2007.

Even though Converge had already established its network in Central Luzon, Mr. Uy set his sights on Metro Manila.

“At first, I was hesitant. You need to have a strong foundation or else you will fail,” he said. Because of his expertise and reputation with technology, he got his break when he landed a deal to help Destiny Cable organize and optimize their cable internet. The revenue share he got from Destiny allowed Converge to start doing business in Metro Manila.

Through international trade shows abroad, Mr. Uy noticed the whole country was behind in terms of internet infrastructure. “We had the most expensive and slowest internet in Asia,” he said. “It was about time we needed to change.”

He researched how to implement the use of fiber optics and micro-trenching to facilitate the rapid and least disruptive way of installing fiber optic cable lines. He started his own construction company to handle the micro-trenching firsthand. The company first adopted this technology in Makati City, where the project was completed in just two months with almost no disruption to the city. In 2013, Converge launched Fiber-to-the-Home fixed broadband services in the country.

Converge offers fixed broadband internet services to residential and enterprise customers. The company also provides private data network solutions, cloud and colocation services and other connectivity solutions to enterprises of varying sizes; and add-on services such as speed boosts and pay TV.

Mr. Uy envisions a fiber-powered future for the country’s digital infrastructure. “I did this out of passion, it didn’t matter if I profited or not,” he said.

The importance of fiber internet became evident during the COVID-19 pandemic. There was a sudden surge in demand for high-speed connectivity for work-from-home professionals and students and fiber was recognized for its superiority.

At this opportune time, Converge stepped in and was able to meet the demand, connecting over 1.8 million subscribers as of the 1st quarter of 2022. From its home base in Central Luzon, the company extended its reach and partnerships to bring fiber broadband connections to Visayas and Mindanao. Converge was also the first company in Southeast Asia to lay 2,000 kilometers of undersea fiber cables in less than six months during the pandemic.

By expanding the digital infrastructure and transformation in the country, Mr. Uy said this will lead to more job creation. He established a BPO customer care service in his hometown to create more job opportunities.

My. Uy was recognized among the “People of the Year” for 2022 by PeopleAsia and received the Global Excellence Award by the International Chamber of Commerce Philippines.

Mr. Uy believes that internet access should be a right of every individual. “Filipinos have been deprived for the longest time,” he said. “They deserve better, future-ready services to access needs such as special education and healthcare.”

He plans to tap into the “sachet culture” of Filipinos and is currently researching ways to offer stable and fast unlimited data to the masses at lower prices than the existing mobile plans with data caps.

“It’s really a challenging industry but someone has to do it. I like being a disruptor. You need to wake up the country. The more disruption, the better it is for Philippine consumers,” Mr. Uy said.

The media sponsors of the Entrepreneur of the Year Philippines 2022 are BusinessWorld and the ABS-CBN News Channel. Gold Sponsors are SteelAsia Manufacturing Corp., Uratex, and Navegar. Silver Sponsors are Intellicare, OneWorld Alliance Logistics Corp., and Regan Industrial Sales, Inc. Banquet Co-presenter is PMFTC, Inc. Banquet Sponsors are Uratex, MerryMart Consumer Corp., Robert Blancaflor Group, Inc., International Container Terminal Services, Inc., Joy~Nostalg and Vista Land & Lifescapes, Inc.

The winners of the Entrepreneur Of The Year Philippines 2022 will be announced on Nov. 21 in an awards banquet at the Grand Hyatt Manila. The Entrepreneur Of The Year Philippines will represent the country in the World Entrepreneur Of The Year 2023 in Monte Carlo, Monaco in June 2023. The Entrepreneur Of The Year program is produced globally by Ernst & Young (EY).

BSP to review cap on credit card rates in January

REUTERS

THE BANGKO SENTRAL ng Pilipinas (BSP) said it will review the current cap on interest rates and other charges imposed by credit card companies in January.

This after the Monetary Board agreed last week to maintain the existing ceiling on credit card interest rates and other charges until end of 2022. 

The BSP kept the maximum interest rate or finance charge on an unpaid outstanding balance of a credit cardholder at 2% per month or 24% a year. It also set the maximum monthly add-on rate on credit card installment loans at 1%.

A maximum processing fee of P200 per credit card cash advances was also maintained.

“The reasonableness of the ceilings shall be subject to further review in January 2023. The BSP will continue to closely monitor evolving domestic and external developments that will impact the state of credit card financing, sustainability of credit card operations and viability of banks/credit card issuers,” the BSP said.

Keeping the limit on credit card rates and charges may encourage consumers to spend more, economists said.

“This would still support increased demand for credit amid improved consumer sentiment/confidence as the economy further reopened towards greater normalcy… In view of the increasing trend in local and US/global interest rates that increased financing/borrowing costs, the continuation of the cap would lead to faster credit growth,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

The central bank imposed the ceiling through Circular 1098 issued in September 2020. The cap took effect on Nov. 3, 2020 in a bid to ease the burden of Filipinos affected by the pandemic.

The rates and fees of credit card transactions are subject to review by the BSP every six months.   

“Maintaining credit card charges is likely to temper any unnecessary costs for consumers in this period of high inflation and high interest rate environment. So far, credit growth appears robust despite increasing interest rates as evidenced in bank lending growth,” China Banking Corp. Chief Economist Domini S. Velasquez said. — KBT

Dennis Marasigan’s return to the CCP

DENNIS MARASIGAN-ARTISTIC DIRECTOR CCP

The new artistic director will have to navigate bureaucracy and a major renovation

IT WAS Nov. 2 and the beginning of another regular work week. For Dennis N. Marasigan, it was his first day back in an office at the Cultural Center of the Philippines (CCP) after 16 years. This time, as its new vice-president and artistic director.

Sitting on his worktable was a printed copy of the open letter sent by his predecessor, Chris B. Millado. The letter opens with: “Dear Colleague, ‘Break a leg!’ for taking on what could be the best arts management post in the country. I wish you the most fulfilling time as you immerse in the hundreds of arts-related activities during your tenure.”

In mid-September, Mr. Marasigan received a call from CCP President Maria Margarita “Margie” Moran-Floirendo. She asked him if he was interested in becoming the CCP’s new artistic director.

“I thought the phone call was about [the opera] Turandot because I had been asked to be the production manager for it,” Mr. Marasigan told BusinessWorld in an interview via Zoom. “My first reaction was to laugh… I wasn’t thinking about it.”

After he was given time to think about the offer and talk to his family, Mr. Marasigan filed his application and officially assumed the post a month later.

Mr. Marasigan admitted that it felt “a little weird” to be back in the CCP offices.

He first worked at the CCP from July 1989 to September 1994 as division chief for technical services. In October 1994, he became assistant vice-president and department manager for theater operations, a post he held until February 1997. He then became the artistic director-department manager for the performing arts, twice — from March 1997 to July 1998, and again from June 2000 to August 2001. Finally, he served as department manager for marketing from August 2001 to November 2006.

Since then, he worked on occasional projects at the CCP.

As a creative, Mr. Marasigan is an actor, director, lighting designer, and producer. He is also the theater arts program head at the Meridian International Business, Arts and Technology College (MINT College).

A NEW ROLE
His first day at work two weeks ago was focused on meeting with familiar and new staff and finding out what he needed to know about their respective tasks, and what his job would be like.

“The first thing that I suppose that I need to brush up on is just to figure out how the CCP bureaucracy works,” Mr. Marasigan said. “I’ve been trying to figure out and find out the plans of the CCP.

“The most immediate is that the building is going to be closed for at least three years. And that means that we will have to rethink the way we implement our projects and programs for the next couple of years,” he said.

During the three-year renovation, the CCP’s productions and program will have to be held in other spaces in Metro Manila.

In a podcast with BusinessWorld, CCP Department Manager Administrative Services Teresa “Tess” S. Rances said that the performances of the resident companies and some workshops will transfer to the Metropolitan Theater in Manila. Some will be held at the new Samsung Performing Arts Theater in Circuit Makati.

The newly launched Tanghalang Ignacio Gimenez or Black Box Theater — a venue that is separate from the main CCP building — will see performances by Tanghalang Pilipino (TP), and screenings for the Cinemalaya International Film Festival.

“It gives us again the flexibility to do these performances and events outside of the center and reaching not the usual regular participants that we have if it were to here at the CCP complex,” Mr. Marasigan said of the building closure.

His focus, at the moment, is managing his transition and reorienting himself with the programs for next year before implementing new ideas.

“I [want to] find out why things are being done, and perhaps after that also talk to the stakeholders and ask them if they think that the CCP is addressing their needs or their concerns,” he said.

Aside from his new role, Mr. Marasigan will also be directing the rerun of Tanghalang Pilipino’s Ang Pag-uusig as part of the CCP resident theater company’s 36th performance season in April 2023 — a play he also directed in 2017 and 2018. His recent directorial stint with the theater company was the filmed restaging of Layeta Bucoy’s Doc Resurreccion: Gagamutin ang Bayan in April this year.

Because of his new position, his teaching load as a professor will be reduced, and schedules in film production will have to change.

UPHOLDING ARTISTIC FREEDOM
After reading the physical copy of Mr. Millado’s open letter, Mr. Marasigan said: “I called him right away. He wished me well and I asked him about his experience.”

Mr. Millado, who was also his batchmate at the University of the Philippines, had also worked at the CCP before returning in 2001 as Associate Artistic Director for Performing Arts.

“He replaced me because I had been moved to Assistant Vice-President for Marketing,” said Mr. Marasigan. “The quaint thing about my having to succeed him also means that I have very large shoes to fill.”

Towards the end of his open letter, Mr. Millado wrote that he hopes for the new artistic director will uphold artistic freedom.

“The responsibility of protecting and defending the constitutional right to freedom of expression of the artist and cultural worker continues to be paramount and central to your job as a civil servant. It is the historical imperative of your office and the teams under you to protect and defend this democratic space if needed.”  (Link to the open letter: https://coverstory.ph/an-open-letter-to-the-next-ccp-artistic-director/)

Mr. Marasigan believes in this. “I believe that the arts have a function beyond entertainment. The arts can serve as a function of helping educate and serve as a mirror to society,” he said.

“While not every artist believes in that and not every artist needs to do that, but for artists to be able to create works of art that can really affect the lives of people, then there has to be artistic freedom,” he said. — Michelle Anne P. Soliman

Paul Allen’s art collection hauls in record $1.5 billion at auction

PAUL CEZANNE’s La Montagne Sainte-Victoire — PHOTO FROM CHRISTIES.COM

FIVE DOZEN works from Paul Cezanne, Vincent van Gogh, and other revered artists brought in $1.5 billion last Wednesday at an auction of part of the vast collection of paintings and sculptures amassed by late Microsoft co-founder Paul Allen.

The total represented the highest amount ever collected at a single art auction, according to the auction house, Christie’s in New York. Proceeds will be donated to philanthropic causes in accordance with the wishes of Allen, who died in 2018.

Several of the winning bids smashed previous records for individual artists and many exceeded the expected sales prices estimated by Christie’s.

Among the priciest works sold was Pointillist pioneer Georges Seurat’s Ensemble (Petite version), an 1888 oil on canvas depicting three nude women. It fetched $149.2 million including fees, a record for a Seurat piece.

Cezanne’s La Montagne Sainte-Victoire, a colorful landscape painted from 1888-1890, sold for $137.8 million, another record. And a Gustav Klimt 1903 painting, Birch Forest, set the high mark for a Klimt work, selling for $104.6 million.

Other notable sales included the highest price ever for a Van Gogh painting. The artist’s Verger avec cypres sold for $117.2 million. Paul Gaugin’s 1899 oil on burlap Maternite II fetched $105.7 million.

Paintings from Georgia O’Keefe, Claude Monet, David Hockney, Andrew Wyeth, and Pablo Picasso also sold, along with sculptures by Alexander Calder and Max Ernst.

A 1905 print of a photograph by Edward Steichen, The Flatiron, sold for $11.8 million, a record for a Steichen work and nearly four times Christie’s highest estimate.

Additional pieces from Allen’s collection will be offered at auction on Thursday. — Reuters

Sia-led firms post lower third-quarter net income

BW FILE PHOTO

COMPANIES led by businessman Edgar J. Sia II — DoubleDragon Corp., DDMP REIT, Inc., and MerryMart Consumer Corp. — on Tuesday reported declining profits in the third quarter after booking lower revenues and incurring higher expenses.

DoubleDragon had a 94.5% decline in its third-quarter net income to P193.15 million from P3.54 billion last year. Its top line stood at P2.24 billion in the three months ending September, 73.6% lower than P8.47 billion a year ago.

Costs and expenses for the property leasing firm amounted to P1.38 billion, up by 11.3% from P1.24 billion in the previous year.

For the nine-month period, DoubleDragon’s attributable net income declined to P1.18 billion, down by 80.1% from P5.94 billion last year. Its top line as of September decreased by 49.3% to P5.66 billion from P11.16 billion a year earlier.

The company’s costs and expenses reached P3.36 billion, up by 3.8% from P3.24 billion a year ago.

In its press release, it said last year’s nine-month results included a P2.79-billion tax benefit with the implementation of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law.

“DoubleDragon since the past few years has been in the intense mode of putting in brick by brick its business fundamentals and simultaneously solidifying each and every underlying part of the business,” Mr. Sia said.

“Today, we are glad that the team has formed and calibrated its concept, brand and business units in four diversified real estate sectors,” he added.

DDMP, which invests in income-generating real estate, in a separate disclosure reported a 9.4% lower net income of P482.44 million in the third quarter from P532.26 million in the same period last year. Its topline was 3.9% lower at P582.88 million from P606.49 million a year ago. Costs and expenses during the quarter increased by 52.1% to P100.44 million from P66.02 million in the previous year.

Year to date, DDMP’s net income reached P1.54 billion, up by 44.4% from P2.77 billion in 2021. Its topline was flattish at P1.82 billion from P1.81 billion a year ago. Costs and expenses during the period were lower by 4.9% to P278.09 million from P292.53 million last year.

On Tuesday, its board of directors approved a cash dividend to all shareholders amounting to P486.2 million or around P0.03 per share with the payment date set on Jan. 9, 2023.

Meanwhile, MerryMart recorded a 25% lower attributable net income in the third quarter to P4.95 million from P6.59 million last year. Its topline reached P1.68 billion in the three months ending September, higher by 73.9% from P966.08 million a year ago.

Cost of sales in the quarter stood at P1.41 billion, 77% higher than the P798.17 million it booked in 2021.

Year to date, MerryMart’s attributable net income was slightly higher at P23.14 million than P23.01 million last year. Its revenues as of September rose 62.1% to P4.55 billion from P2.81 billion a year ago.

Its cost of sales during the period was placed at P3.78 billion, a 57.9% increase from the P2.4 billion booked in 2021.

According to a press release, the consumer-focused retailer’s nine-month revenue growth was boosted by sales growth of existing stores and contributions from pharmacy chain acquisitions.

Mr. Sia said MerryMart continues to be “firm and unwavering” in its pursuit for the group to become one of the “most dominant and highly relevant” consumer companies in the Philippines by 2030.

On the stock exchange on Tuesday, DoubleDragon shares declined by 1.87% or P0.13 to close at P6.81 each. In contrast, MerryMart shares climbed by 3.45% or P0.04 to P1.20 apiece. DDMP shares were unchanged at P1.30 each. — Justine Irish D. Tabile

Showing off songs and sequins, Museum of Broadway opens in New York

THEMUSEUMOFBROADWAY.COM

NEW YORK — Right on Times Square in the heart of New York’s theater district, a new Museum of Broadway is designed to take fans behind the curtain of some of its biggest musicals.

Rooms in the museum on 45th Street, which opened on Tuesday, use music, videos, glittering costumes, and walk-through sets to tell the history of how the theater district came to be. It also covers groundbreaking shows from West Side Story to Cats, with details on who does what behind the scenes.

“Broadway’s been around, you know, since the 1700s. And so we just are really wanting to bring that to life,” said co-founder Julie Boardman.

The heart of Broadway Theater was located downtown in Union Square in the 1850s and arrived in Times Square in the early 1900s. A show is considered “Broadway” when performed in about 40 theaters with 500 or more seats in the Broadway District in Midtown Manhattan.

“It’s a very uniquely American art form that’s developed here. And so, you know, it should be here, and it should be in Times Square,” Ms. Boardman said. — Reuters

Villars’ listed firms report profit growth on ‘revenge’ spending

VILLAR-LED companies Vistamalls, Inc., Vista Land & Lifescapes, Inc., Golden MV Holdings, Inc., and AllDay Marts, Inc. recorded profit growth in the third quarter as consumer spending picked up.

Vista Land, a developer of residential subdivisions and condominiums, posted a P2.26-billion attributable net income, up by 10.5% from P2.05 billion last year.

“Our leasing business has sustained its growth momentum given the return to ‘normalcy’ and the so-called revenge spending,” Vista Land President and Chief Executive Officer Manuel Paolo A. Villar said in a press release on Tuesday.

The company registered profit growth despite a 65% decline in its top line during the quarter to P5.8 billion from P16.59 billion a year ago.

For the January-to-September period, Vista Land’s net income rose by 6.9% to P6.09 billion from P5.7 billion in the previous year. Its nine-month revenues declined by 5.2% to P21.23 billion from P22.39 billion a year ago.

By end-September, Vista Land had 12 project launches with an estimated total value of P21.8 billion.

In a separate report, Vistamalls’ attributable net income surged more than two times to P1.68 billion in the third quarter from P675 million a year ago, after booking higher revenues and incurring flattish expenses.

Vistamalls, whose units develop and operate malls and office centers, recorded a 39.1% rise in its top line to P2.61 billion in the three months ending September from P1.87 billion previously. Costs and expenses at P839 million were just slightly higher than the P832 million incurred last year.

For its nine-month showing, Vistamalls’ profit climbed by more than two times to P5.1 billion from P2.32 billion in the same period last year. Its revenues amounted to P8.46 billion for the three quarters, up by 50.3% from P5.63 billion a year ago.

Costs and expenses for the period were lower by 4.4% to P2.04 billion from P2.13 billion as the company saw a decrease in occupancy expenses, outside services, and repairs and maintenance.

Golden MV, which is into real estate including memorial lots and chapels, had an attributable net income of P450.99 million in the third quarter, 9.4% higher than P412.25 million a year ago. The company’s topline was 4% lower at P1.28 billion from P1.33 billion in the same period last year.

Sales of real estate units amounted to P1.21 billion, lower by 3.5% from P1.25 billion in 2021.

For the nine months to September, Golden MV posted P1.14 billion attributable net income which was 6.4% higher than P1.07 billion in the previous year. Its top line totaled P3.85 billion, 5.4% lower than P4.07 billion a year ago. 

Meanwhile, supermarket operator AllDay Marts posted a 3% increase in its net profit to P88.38 million in the third quarter from P85.8 million last year. Its sales rose to P2.48 billion, up by 4% from P2.38 billion a year ago.

Its nine-month net income declined by 62.3% to P100 million from P265.45 million in 2021. Year-to-date revenues rose 2.8% to P7.07 billion from P6.87 billion last year.

“AllDay’s market, one that is particularly affected by the trend of ‘revenge retail,’ have been observed to shift their spending towards enjoying themselves through travel and leisure, and rightfully so, especially after such long periods of lockdown,” AllDay Chairman Manuel B. Villar, Jr. said.

In a separate disclosure, AllHome posted a 46.8% lower income of P176.48 million in the third quarter from P331.66 million a year ago. AllHome’s topline was also lower at P2.84 billion, down 16.5% from P3.4 billion last year. The company sells home improvement and construction products in mall-based, free-standing, and specialty stores.

For the three quarters to September, the company’s net income fell by 59% to P398.59 million from P972.63 million a year earlier. Its topline declined by 10% to P9.11 billion from P10.13 billion.

“There are still prevailing circumstances in the country that stem from the pandemic — and AllHome’s 9M 2022 performance show signs of this,” Mr. Villar said.

“We have seen increased construction activity throughout the country, especially as the effects of the pandemic have worn off for most part. We look at this with optimism for the coming year, as this will see the completion of most construction activities started or restarted during the pandemic,” he added. — Justine Irish D. Tabile

Arts & Culture (11/16/22)

ARTablado Ac-ac Gives Back — Pamilya sa Kalabaw

ARTablado, Luis Ac-ac team up for charity show

ARTABLADO, Robinsons Land Corp.’s platform to showcase Filipino artistry and ingenuity, and master carver Luis Ac-ac of Paete, Laguna, joint forces in mounting a philanthropic exhibit aimed at helping artists and organizations displaced by the COVID-19 pandemic. Proceeds from the show — “Ac-ac Gives Back: Artists para sa mga Artista” — which will run from Nov. 16 to 30 at ARTablado in Robinsons Galleria, will go to Diwang Pinoy Organization, Inc., and Museo Ac-ac’s Jose D. Caancan Memorial Sculpture Competition. These organizations will utilize the proceeds in the form of, among others, artistic, educational, and psycho-social support. Mr. Ac-ac chose Diwang Pinoy for its role in supporting students, artists, and cultural workers affected by the pandemic through financial support for them to mount their recitals, exhibits, and live performances. It also helps these artists and cultural workers complete their college education and provides them assistance during calamities and other challenges. Launched in 2020 during the height of the pandemic, the Jose D. Caancan Memorial Sculpture Competition bats for the safeguarding of Paete’s age-old wood carving tradition and encourages the youth to venture into the world of art. Forty of Mr. Ac-ac’s works will be on view during the two-week show, curated by his daughter, Marygrace Ac-ac. The works revolve around the theme of Filipino folk life, Mr. Ac-ac’s favorite subject, which are finely executed in the classical tradition of sculpting. For more information, contact Marygrace Ac-ac at 0917-871-7799 and museo.acac@gmail.com or Rosana Villegas of ARTablado at RoseAnn.Villegas@ronbinsonsland.ph.

Mo_Space holds group show

ON view at Mo_Space’s Main Gallery and Gallery 2 until Dec. 5 is “Phylogeny of Desire,” a group show curated by Ronald Achacoso. Mr. Achacoso describes it as, “an art exhibition showcasing a selection of works from artists, botanists, and plant enthusiasts who draw inspiration from the astounding morphological diversity and the intriguing ecological complexities of the plant kingdom — particularly the unique assemblage of Philippine flora — and trace its resonance in the fundamental processes of art making”. He goes on to say: “The show also pays tribute to and commemorates the Dr. Leonardo Co, arguably the most important plant taxonomist and field botanist the country has produced in the last few generations, and whose tragic and untimely demise 12 years ago has left a gaping void in the world of Philippine Botany at this most critical point in time.” MO_Space is open daily from 10 a.m. to 7 p.m. at MOs Design, Bonifacio High Street, BGC, Taguig. For inquiries, call 8403-6620, or 0917-572-7970.

Exhibit features BPI art collection

IN collaboration with Ayala Museum, the BPI Foundation opens the 2022 BPI Art Exhibition, “Phases, Places, Faces” on Nov. 16 at the Ayala Museum in Makati. Culled from the BPI art collection, the display of art aims to showcase life’s beautiful facets as presented by Filipino visual artists of yesteryears and of the present, curated by the Senior Curator and Head of Conservation of Ayala Museum, Kenneth Esguerra. The exhibit runs until Dec. 31

Guitarist Ivar Fojas in CCP concert series

CLASSICAL guitarist Ivar Fojas will hold a solo concert as part of the Cultural Center of the Philippines’ Special Concert Series on Nov. 16, 7:30 p.m., CCP Tanghalang Ignacio Gimenez (Black Box Theater). Dr. Fojas currently works as a guitar professor at the Philippine Women’s University School of Music Graduate School where he mentors masters and doctoral-level guitar students and teaches Ph.D. courses in music, and is an associate Professorial Lecturer 5 at De La Salle University Literature Department. Dr. Fojas conducted research on the lute works of J.S Bach that culminated in a lecture. This led him to baroque guitar performances with the Helios Ensemble and Arizona Baroque. He presented numerous solo recitals and performed guitar concertos in the Philippines by Mauro Castelnuovo-Tedesco, Federico Moreno-Torroba, and Joaquin Rodrigo with the Manila Symphony Orchestra and Peace Philharmonic Philippines, among other events. In 2020, Dr. Fojas was featured in an online concert under the Sunshine Classics concert series together with the Kabataang Gitarista (KG). For more information about the event, follow the official CCP social media accounts on Facebook, Twitter, and Instagram.

Dulaang UP’s The Reconciliation Dinner

THE STAGE is set for Dulaang UP’s 45th Theatre Season opener, The Reconciliation Dinner, a new one-act play by Floy Quintos and directed by Dexter M. Santos. The play is a dark comedy about friends trying to heal unspoken hurts, suspicions, disbelief about the choices of those they thought they knew well. In light of the 2022 elections, how well do we really know those we hold dear? And how far are we willing to go to overlook the choices they make? The cast is led by Stella Cañete-Mendoza and Frances Makil-Ignacio. They are joined by Randy Medel Villarama, Jojo Cayabyab, Nelsito Gomez, Hariette Mozelle, and Phi Palmos. This is Messrs. Quintos and Santos’ sixth theater collaboration, having worked together on The Kundiman Party, Angry Christ, Ang Huling Lagda ni Apolinario Mabini, Ang Nawalang Kapatid, and Collection. The Reconciliation Dinner runs from Nov. 18 to 20 at the UP Theater Main Hall Stage, UP Diliman, Quezon City. Tickets are available via Ticket2Me (https://ticket2me.net/e/36022). The production will also have a limited video-on-demand release via Ticket2Me. For ticket inquiries e-mail dulaangup.upd@up.edu.ph or message the Facebook page Dulaang Unibersidad ng Pilipinas (DUP Official Page).

The Future of Libraries discussed in seminar

INSTITUTO Cervantes de Manila will hold a seminar titled “The Future of Libraries” on Nov. 19 at its center in Intramuros (Calle Real, Plaza San Luis, Intramuros, Manila). It will be composed of a lecture and a round table discussion. The lecture will be from 10 to 11:30 a.m. and the round table discussion will be from 1 to 2:30 p.m. Libraries have always had a respected role in society, being repositories of knowledge that have helped civilizations advance, and where people could enrich their minds and keep themselves entertained without the expectation of shelling out money for everything. Nowadays, however, libraries are faced with many challenges brought about the digitalization of information, the increasing number of diversions for the public, and the difficulties brought about by the pandemic. The seminar speaker is Carme Fenoll, Director of the Culture and Community Area of the library of the Universitat Politécnica de Catalunya. The round table discussion will have representatives from the National Library, the Miguel de Benavidez library of UST, the Ortigas Foundation, and the Aurelio Montinola Jr. library of Alliance Française. This event is open to all and is free of charge. Confirm attendance by sending an e-mail to cenmni@cervantes.es.

Joseph the Dreamer returns for a limited run

TRUMPET’S musical Joseph the Dreamer returns, with performances until Nov. 27 at the Maybank Performing Arts Theater, BGC Arts Center, Taguig. The musical tells the Biblical story of Joseph, who brought the Jews into Egypt. Written by Freddie Santos, the musical is based on Cam Floria’s cantata entitled Dreamer: What Really Happened to Joseph. This production is a re-imagined version directed by Paolo Valenciano, featuring updated musical arrangements by Myke Salomon as well as an updated script. For tickets visit, https://premier.ticketworld.com.ph/shows/show.aspx?sh=JOSEPH22&utm_source=Facebook&utm_medium=posts&utm_campaign=JTD. 

Hanbok Fairytale exhibit ongoing at KCC

FAIRYTALES are reimagined in the exhibit “Once Upon A Time… Hanbok Fairytale of Wooh Nayoung” at the Korean Cultural Center (KCC) in the Philippines, which is ongoing until Feb. 28, 2023. Korean artist Wooh Nayoung created 32 illustrations featuring reinterpreted scenes from fairytales written by Hans Christian Andersen, the Brothers Grimm, Lewis Carroll and various other authors. The characters in the illustrations wear the traditional Korean Hanbok together with their representative colors. Malakas and Maganda of the Filipino legend will also be drawn by the artist in a traditional Korean painting style. The Korean Cultural Center in the Philippines is at 59 Bayani Rd., Fort Bonifacio, Taguig City. The center is open Mondays to Fridays, 9 a.m. to 4 p.m., and Saturdays, 10 a.m. to 4 p.m., excluding holidays. Admission is free. Guests are advised to bring their vaccination card to present upon entry. A maximum of 60 people are allowed inside the building at a time for health and safety regulations.

Discussion on Imelda Cajipe Endaya’s work

THE CULTURAL Center of the Philippines (CCP) Visual Arts and Museum Division presents the “Teodora Alonso Reading Club: A Discussion on the Work of Imelda Cajipe Endaya,” a public conversation on the artistic and cultural works of the visual artist, on Nov. 26, 3 p.m., at the Bulwagang Juan Luna (CCP Main Gallery). The event is named after one of Cajipe Endaya’s artworks, titled The Teodora Alonso Reading Club, which is included in the ongoing retrospective exhibit of her work at the CCP. The painting shows a palimpsest of an archival image of Teodora Alonso with her daughters and granddaughters wielding books that contend with the friarocracy. Critic Eileen Legaspi Ramirez and artist Judith Adam will join the discussion via Zoom, while artist Brenda Fajardo and scholar Neferti Tadiar will be presenting pre-recorded videos. Ms. Cajipe Endaya will be on site to share her own reflections and insights. Professor Sofia Guillermo will moderate the discussion. The event will conclude with the turnover of In Certain Seasons Mothers Write in the Time of COVID, an anthology whose book cover features Cajipe Endaya’s artwork Salinlahi’y Iligtas. The anthology was published by the CCP Intertextual Division and Philippine PEN. The discussion is open to the public. The program will also be streamed live via the CCP, CCP VAMD, and CCP Intertextual Division’s Facebook Pages. For inquiries, contact the CCP VAMD, Production and Exhibition Department, at 8832-1125 loc. 1504/1505, e-mail (vamd@culturalcenter.gov.ph), or through @ccpvamd on Facebook, Twitter and Instagram.

Mula sa Buwan returns in December

THE MUSICAL Mula sa Buwan returns to the Samsung Performing Arts Theater in Circuit Makati in December after its run in August and September, but there are changes in the cast this time around. Barefoot Theatre Collaborative announced that the role of Christian, most recently essayed by Markki Stroem, will now be played by MC Dela Cruz. Joining the cast for the December run is Cedrick Juan who will play Maximo, and Khalil Tambio as Limon. Reprising their roles are Myke Salomon as Cyrano, Gab Pangilinan as Roxane, Phi Palmos as Rosanna, Jon Abella as Tato, and Jillian Ita-as as Gabriel. Directed by Pat Valera, Mula sa Buwan is an original Filipino musical based on Edmond Rostand’s Cyrano de Bergerac and Soc Rodrigo’s Filipino translation. There will be performances from Dec. 2 to 4 and Dec. 9 to 11 at the Samsung Performing Arts Theater of Circuit Makati. For tickets visit https://premier.ticketworld.com.ph/. 

The second Gador Awardees

A CEREMONY for the second Gador Awardees was held at the newly built Tagum City Cultural Center Theater on Nov. 5. The Gador Award is a recognition program for outstanding artists, cultural administrators and organizations in Mindanao initiated by the Kaisa sa Sining (KSS) Mindanao network of the Cultural Center of the Philippines (CCP) and facilitated by the CCP Cultural Exchange Department (CED). The 13 recipients this year are Dr. Christine G. Ortega (literature/cultural administration, Iligan City); Dr. Helen Tejero (music, Iligan City); Francisco Englis (music/Iligan City); Ronolfo “Popong” Landero (music/Davao City); Br. Carlito “Karl” Gaspar (theater/cultural administration, Davao City); Kubali Millan (visual arts/Davao City); Waway Saway (Talaandig/music, Lantapan, Bukidnon); Nilda Mangilay (Subanen/indigenous art, Zamboanga Del Sur); the Kathara Dance Theater Collective (dance-theater, Davao City); the Kaliwat Performing Artists Collective (theater/cultural administration, Davao City); the Tambuli Cultural Dance Troup, (dance/indigenous art, Tawi Tawi); the MSU Kabpapagariya Ensemble (theater/cultural administration, General Santos City); and the Dumendingan Arts Guild (cultural administration/indigenous Art, Pagadian City). The Gador Award aims to recognize exceptional individuals and organizations who have contributed to the flourishing of arts and culture in the region. The awardees for this year were chosen from a total of 20 nominations from the KSS Mindanao network. In 2020, the first Gador Awards were conferred on six individual honorees — Agnes Locsin, Maria Todi, Sunnie Noel, Steven P.C. Fernandez, Nestor Horfilla, and Joey Ayala — and two organizations — the Sining Kambayoka Ensemble and the Integrated Performing Arts Guild.

Galeria Paloma launches educational initiative online

GALERIA Paloma launched its educational initiative, Perspectives, with a panel discussion on “Collecting Crypto Art,” done in partnership with Binance and Palladium. A recording of the panel discussion is now available for viewing online on its website (galeriapaloma.com) and its YouTube channel. “[T]he gallery would like to offer these resources as recordings on accessible platforms,” gallery director Kimi Rocha-Delgado said in a statement. “We do our best to gather key insights from professionals beyond our local art scene to get a pulse of current movements in global art, and then present these insights accessibly and relatably.” Apart from the approximately one-and-a-half hour full recording, the gallery has identified key clips and quotes for those who may want to familiarize themselves with key concepts and insights with easy references, especially on topics that may seem intimidating or opaque, like web3. Panelists emphasized the central role blockchain technology assumes in the changing art landscape: Fatmire Bekiri, Head of Tokenization at Sygnum Bank, the world’s first digital asset bank; Gareth Fletcher, program director at Sotheby’s Institute of Art; Kenneth Stern, general manager of Binance Philippines; and Regie Tongol, lawyer and collector of both crypto and traditional-form art.

500 Years of Christianity in the Philippines book launch

ANG BAGONG Bayani Assembly (ABBA) of the Knights of Columbus will launch the coffee table book, 500 Years of Christianity in the Philippines, on Nov. 16 at Club Filipino Greenhills, San Juan. The book opens with the discovery of the Philippines, followed by the establishment of the early Catholic churches, the influential friars, the rise of Catholic universities, and includes an essay on the Virgin Mary by Fr. Alexander Balatbat. The book also includes a history of the Knights of Columbus in the Philippines by Rene V. Sarmiento. “Our objective was to present the historical perspective and at the same time capture the rich contribution of Christianity and other European influences to our cultural development,” a press release states.  The book is published by Ang Bagong Bayani Assembly (ABBA) of the Knights of Columbus, with an editorial team, headed by Matias V. Defensor.

Araneta City lights up its traditional belen

TWO weeks after lighting its iconic 100-foot Christmas tree, Araneta City kept its holiday celebration alive with the traditional lighting of its giant Belen on Nov. 11. The life-size belen — a classic Christmas icon that depicts the nativity of Jesus Christ — is located at Gen. McArthur Avenue (between Farmers Market and Farmers Garden). Lighting the belen has been a tradition since 1991. Other upcoming activities include the opening of two classic attractions that are back at Araneta City this year — the Christmas on Display, and the Fiesta Carnival.

PLDT group sets decarbonization target for 2030

PHOTO FROM JGSUMMIT.COM.PH

THE PLDT group on Tuesday said it targets to reduce its greenhouse gas emissions by 40% by 2030.

The goal is part of the group’s commitment under the environmental pillar of its ESG or environmental, social and governance principles, PLDT said in an e-mailed statement.

“The roadmap sets annual targets for reduction in emissions on an absolute basis, as well as in terms of intensity, including emissions as a percentage of revenues,” it noted.

The group is currently undertaking various infrastructure projects, including the VITRO Sta. Rosa hyperscale data center, Jupiter cable system, and the upcoming Asia Direct Cable and Apricot Cable systems.

The projects are seen to boost the Philippines’ digital transformation efforts, as well as address future industry requirements for massive data capacity, high-speed connectivity, and more digital services.

“We have committed to embedding sustainability in the way we do business responsibly, to ensure significant and lasting value for future generations in the digital innovations that we offer,” said PLDT and Smart President and Chief Executive Officer Alfredo S. Panlilio.

Gary F. Ignacio, vice-president and head of the strategic business development sector, said that sustainability is a key consideration in the design of the VITRO Sta. Rosa hyperscale data center to ensure power utilization efficiency and the optimum use of scarce water resources.

According to the group, it has started producing its own power with the use of solar panels in some of its facilities such as those already installed in VITRO Clark and the soon-to-rise VITRO Sta. Rosa.

“PLDT has integrated renewable energy (RE) into the power mix of VITRO data centers starting at 20% of each site’s power consumption with the long-term goal to be fully powered by RE as more supply becomes available,” the group noted.

“The recently launched Jupiter cable system on the other hand was deployed through Horizontal Directional Drilling on the cable’s final mile approach to PH shorelines to minimize environmental disturbance within marine life ecosystems,” it added.

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

Banksy showcases new mural in war-scarred Ukrainian town

A NEW graffiti in Banksy style at the wall of destroyed residental building in the Borodianka town, which was heavily damaged by fighting in the beginning of Russian invasion, Ukraine, Nov. 12. — MAXYM MARUSENKO/NURPHOTO VIA REUTERS

BORODYANKA, Ukraine — Renowned graffiti artist Banksy unveiled a work in the Ukrainian town of Borodyanka, which had been occupied by Russia until April and heavily damaged by fighting in the early days of Moscow’s invasion of its neighbor.

Banksy posted a photo of the mural — a girl gymnast performing a handstand on a small pile of concrete rubble — on Instagram late on Friday. The work was painted onto the wall of a building destroyed by shelling.

At least one other piece of new graffiti in Banksy’s signature style, although not posted by the mercurial artist on social media, was spotted in Borodyanka, portraying a man being flipped in judo by a much smaller child.

The symbolism of that piece was unmistakable: an allusion to the biblical story of David and Goliath, the unlikely triumph of the underdog, as well as a nod to Russian President Vladimir Putin’s much-publicized love of the Japanese martial arts.

Several curious onlookers came to see the artwork, some of whom had made the 60 km drive from Ukraine’s capital city, Kyiv.

“This is such a historic moment for our country, that people like Banksy and other famous figures are coming here and showing the world what Russia has done to us,” said one of the visiting Kyivans, 31-year-old Alina Mazur. — Reuters

Global Ferronickel net income climbs 41%

LISTED mining firm Global Ferronickel Holdings, Inc. (FNI) posted a 40.8% increase in its net income for the third quarter despite recording lower revenues.

In a stock exchange disclosure on Tuesday, the mining firm said that its net income for the July-to-September period rose to P1.72 billion compared with P1.22 billion last year. FNI’s revenues for the quarter dropped 24.2% to P2.88 billion from P3.80 billion.

In its quarterly financial report, the company registered other income amounting to P1.17 billion in contrast to its P222.64-million charges incurred a year ago. Its other income came in part from an amount received from a settlement in a case.

For January to September, FNI’s net income rose 14.7% to P2.13 billion compared to P1.86 billion in the same period last year.

Revenues reached P5.09 billion, down 20.6% from P6.41 billion in the same period in 2021. Of the total, 98.2% came from mining operations while 1.8% came from services rendered to customers.

According to FNI, it sold 3.15 million wet metric tons (WMT) of nickel as of September, down by 25.5% from 4.228 million WMT in the same nine-month period last year.

“The group completed 58 shipments of nickel ore during the nine months period … as against 78 shipments of nickel ore during the same period last year mainly due to bad weather conditions. The group encountered more rainy days each month this period totalling to 161 rainy days compared to 137 rainy days of the same period in 2021,” the company said.

Meanwhile, FNI said that the overall average realized nickel ore price in the January-to-September period dropped 6.1% to $28.89 per WMT compared with $30.78 per WMT last year.

“The average realized peso over dollar exchange rate for the group’s export revenues was P54.87 compared to P49.22 of the same period last year, higher by P5.65 or 11.5%,” the company said.

On Tuesday, FNI shares at the stock exchange rose P0.03 or 1.32% to end at P2.30 apiece. — Revin Mikhael D. Ochave

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