Home Blog Page 5623

CTA affirms real estate firm’s canceled tax assessment

CTA.JUDICIARY.GOV.PH

THE Court of Tax Appeals (CTA) affirmed the cancellation of the tax assessment on Meridien East Realty & Development Corp. worth P35.67 million inclusive of penalties and interest for the fiscal year 2010.

In a 26-page decision on July 14 and made public on July 18, the CTA full court said the commissioner of internal revenue (CIR) acted in bad faith by failing to prove the company misstated or withheld facts from the Bureau of Internal Revenue (BIR).

“He (CIR) merely alleged that respondent committed misrepresentation and bad faith in obtaining BIR Ruling No. DA-245-05 without even presenting any documentary evidence proving such factual matter,” according to the ruling written by CTA Associate Justice Maria Rowena Modesto-San Pedro.

The court ruled that the company did not misrepresent or provide materially different facts in the issuance after the issuance of a BIR ruling.

CIR, the petitioner, is tasked by the government to enforce revenue laws and collect tax in accordance with the country’s revenue code.

The respondent is a domestic firm primarily engaged in the purchasing, selling, and leasing of real estate properties.

It added that the CIR violated the country’s revenue code when it retroactively overturned a BIR ruling, which ruled in favor of the real estate company.

Under the BIR ruling, the company is not subject to 10% value-added in cases of conveyance of land and common areas not in connection with a sale.

The CIR then authorized an examination of the company’s books of accounting and records for tax deficiencies.

The official argued that retroactive application of BIR rulings may be made if taxpayers acted in bad faith by misrepresenting facts.

“The reversal of the BIR Ruling was merely due to a change of opinion by petitioner on the tax consequences of the same set of facts which respondent presented in obtaining BIR Ruling No. DA-245-05,” said the tribunal.

It noted that a taxpayer has the right to rely on the BIR Ruling as long as it did not misrepresent, provide materially different facts, or commit bad faith after the issuance. — John Victor D. Ordoñez

Stories of northern indigenous people highlighted in new series

THE NATIONAL Commission for Culture and the Arts (NCCA) premieres a miniseries on a man who learns about his roots in the Philippines’s northern regions.

Project Destination, which premieres on July 24, 11 a.m., on GTV, follows Andre, a 23-year-old Filipino-American who is estranged from both his biological family and Filipino heritage. Upon learning about his father’s death, he returns to the Philippines where he discovers his family’s Filipino history, culture, and heritage.

Written by Felinda Bagas and directed by Zig Madamba Dulay, the series aims to explore and investigate Filipino cultural values.

Tuwang-tuwa ako na maging part ng project na nagkukuwento ng mga kuwentong katutubo (I am happy to be part of a project that tells stories about our native people),” Mr. Dulay said during a press conference on July 12 at the NCCA headquarters in Intramuros, Manila.

Mr. Dulay has directed several films and TV series focusing on indigenous groups. The first was Paglipay (2016), about an Aeta from Zambales who makes a living from the kaingin farming practices and hunting on Mount Pinatubo. He then directed the GMA fantasy drama series Sahaya (2019), which focused on a Badjao child who has a special connection with the water; as well as the GMA the romance drama series Legal Wives (2021), about the Maranao community.

“[Ka]pag nagkuwento ka kasi sa kanila (audiences) ng hindi masyadong aware iyung mga Pilipino…you get to share hindi lang ‘yung kanilang kultura kundi yung kanilang pagiging tao (When telling stories to the audience about something Filipinos are not very aware of, you share not only the community’s culture but also their humanity),” he said.

“In that way, nakakatulong kami, kung hindi man mabura ay mabawasan ng tuluyan ang diskriminasyon o yung pagtingin ng iba sa kanila. Para sa akin, malaking tulong na iyun (In that way, we are able to contribute, if not erase then slowly lessen the discrimination or others’ perception of them. To me, it is a huge help),” he added.

THE PRODUCTION
Work on the series began in 2019 with research that involved traveling to Pampanga, Baguio, Ilocos, and Cagayan, and conducting interviews with members of the indigenous communities there and their elders.

The series highlights a defined set of Filipino values based on focused group discussions (FGDs) facilitated by the NCCA. The FGDs were facilitated through the NCCA’s Planning and Policy Section (PPS). The creative team also included Lutgardo Labad and Lotlot Bustamante as executive producer.

The result of the research and interviews is a six-episode miniseries. The series was shot in 2020 when COVID-19 restrictions eased, and film production was permitted.

Kahit na hindi kalakihan yung budget namin, sinikap naming mag-shoot sa mga probinsya kasi mahalaga sa amin na kapag ipro-project mo iyung kultura ng isang lugar, kailangan mong mag-shoot doon (Despite the tight budget, we sought to shoot scenes in the provinces because it is important for us to shoot on location when it involves projecting the culture of a community),” Mr. Dulay said.

THE CAST
Andre is played by Filipino-Australian actor Migo Adecer. Paul Holmes plays Cole, Andre’s adoptive father while Yul Servo plays Jojo, Andre’s biological father. Angeli Bayani plays Isabel, Andre’s mother who married Cole out of necessity. Kate Valdez plays Loret, from a prominent political clan in Negros, who falls in love with Andre. Royce Cabrera plays Jay, Andre’s younger brother who was left behind in the Philippines and works as a traditional wood carver and tourist guide. Linda Villalobos plays Lola Miling, Isabel’s mother, Andre’s grandmother. Also in the cast are Acey Aguilar, Ross Pesigan, Tim Mabalot, Seth dela Cruz, and Yñigo Delen.

To know if the production had depicted the communities correctly and effectively, the final cut of the miniseries was screened in the communities and gained the approval of the tribe leaders and elders.

Kailangan mong makita ‘yung kuwento nila at kailangan mong malaman ‘yung opinion nila or masasabi nila after mong magawa (You have to see the stories they tell you, and you have to seek their opinions or feedback after the work is done),” Mr. Dulay said. “Ang taas ng tingin ko sa prosesong iyun…. (I have high regard for that process).”

Mr. Dulay recalled that the elders, who in their 80s, said that there have been a number of series, films, and documentaries shot in their community, but this series gave them the chance to contribute their insights, opinions, and suggestions.

Gamitin mo ang medium mo para magbigay ng boses sa mga tao na hindi masyadong pinapakinggan (Use your medium to lend a voice to those who are seldom heard),” said Mr. Dulay.

Project Destination premieres on July 24, 11 a.m. on GTV. — Michelle Anne P. Soliman

Coca-Cola opens distribution center in Bohol

COCA-COLA Beverages Philippines, Inc. (CCBPI), the local bottling arm of Coca-Cola, opened a distribution center in Tagbilaran, Bohol as part of its investment in its long-term growth in the country.

“We are grateful to our associates and partners in Bohol who play significant roles in supporting the success that we see today, and fueling the growth for tomorrow,” CCBPI Chief Executive Officer and President Gareth McGeown said in a press release on Thursday.

The new distribution hub will be vital in catering to Coca-Cola’s customers and partners in the province of Bohol as it will enable operational and logistical efficiencies that will allow the company to deliver beverages to customers across the province.

“Our first site in Bohol has been here for 70 years — we will continue to serve local communities here and across the Philippines for as long as we can. We are excited about many opportunities and we are glad to be strengthening our partnership with our customers, government partners, and communities through our new distribution center,” CCBPI Tagbilaran Plant Manager Ayesha Castillano said.

CCBPI said that it will ensure that every Coca-Cola bottle that reaches the market goes through the strictest manufacturing and safety measures, and the highest sustainability standards.

“We look forward to the amazing things we can accomplish in the years to come through our Tagbilaran Plant and distribution center. CCBPI is forever grateful for your continued trust and support that has always been the anchor of our success,” Mr. McGeown added.

Today, the Coca-Cola system in the Philippines has evolved into a total beverage company, offering 19 brands in its beverage portfolio and employing over 10,000 Filipinos in 19 manufacturing facilities and more than 70 distribution centers nationwide.

Through its manifesto #GoBeyondGood, the company supported safe water access programs in over 200 communities, trained and peer mentored over 200,000 women entrepreneurs, and accelerated packaging collection and recycling under its global “World Without Waste” initiative. — Justine Irish D. Tabile

A good visual novel

Yurukill: The Calumniation Games — NINTENDO.COM

Video Game Review
Yurukill: The Calumniation Games
Nintendo Switch

Monark
Sony PlayStation 5

AT the outset, it’s hard not to feel confused about what Yurukill: The Calumniation Games attempts to do. Its quirky over-the-top nature might seem forced the first time you look at it, especially when you get to its gameplay mechanics. It’s a visual novel, filled with escape room segments, all while being interspersed with a solid shoot-’em-up minigame. That is not a combination you’ll often find, and, at times, the pacing does seem a little off. However, if you set aside your initial misgivings, you’ll see that the game has far more going for it despite its weirdness, and that while it doesn’t excel at any particular thing, it does do a superb job at balancing the different genres to keep things lively.

Yurukill: The Calumniation Games follows the story of Sengoku Shinju, a man who’s been framed for the deaths of 21 people. His chance for freedom, however, arrives in the form of Binko, a mysterious woman who offers him a chance to redeem himself. All he has to do is participate in some games in an eccentric location known only as Yurukill land. These are no simple games, though; in Yurukill land, winning might mean total freedom, but it’s rife with danger for the unwary. A simple misstep could spell disaster, and when Shinju’s closest partner is someone who has it out for him, it’s not going to be as easy as it seems.

This concept is what propels much of the story of Yurukill: The Calumniation Games. There are interesting dynamics to be explored with each character, as they all have their own agendas and goals to fulfil. The tension is always present because of this, especially in the scenes where prisoners and their partners are involved. There’s a clear power imbalance at play, and this creates great friction that allows each character’s story to develop, especially when it gets emotionally charged in the game’s more dramatic moments. These dramatic moments also extend to other portions of the game, particularly in its escape room segments. They share the same quirky, weird personality that Yurukill land has to offer, but do so in a way that makes each puzzle feel unique. Each problem you have to solve in these sequences has its own internal logic, setup, and solution, and this gives it a strong personality that manages to make these sequences memorable.

To be sure, the escape room segments in Yurukill: The Calumniation Games are far from challenging. Each puzzle can be figured out pretty easily, and the hint system that can be availed of doesn’t penalize players who use it. In fact, it seems almost expected for you to experiment with it, as the dialogues these hints have are fun and reveal more about the characters and how they view the trials they face. In a lot of ways, these puzzle segments seem like the developers’ way to break up long visual novel segments of just pure reading.

This, however, does not extend to the shoot-’em-up segments of Yurukill: The Calumniation Games. While the game in the easy setting is actually pretty, the harder modes are where the challenges really amp up. The game certainly isn’t shy on throwing trying stages at you. The characters you have available to choose from all have their own strengths and gimmicks, and the differences in their playstyle actually have an impact on how smoothly you can proceed depending on what kind of power-ups you prefer. It doesn’t do much new in the shmup (shoot-’em-up) genre, but it does things well enough to make it actually enjoyable. Colorful lights shoot at you, dozens of projectiles home in, and plenty of powerups can be discovered and enjoyed to counter these.

That’s Yurukill: The Calumniation Games in a nutshell. You rotate between its three game modes, mainly getting story beats through its visual novel side to tell you more about its sinister plot. The puzzle and the shoot-’em-up segments pop in now and then to break up the long reading bouts, occasionally chiming in with story details or small plot-related anecdotes that help smoothen the experience. And, honestly, while it might not strive to be more, it does what it has set out to do. All of its parts, when played, are equally satisfying, and the main hurdle the game has isn’t in its lack of quality; it’s in finding an audience that’s willing to accept this mish-mash of genres to really dig deep into its story. Granted, parts of the narrative do drag a little, especially in the beginning when it has to establish its important plot points, but the rest of the story is able to keep up its pace to a satisfying degree.

Yurukill: The Calumniation Games is best when it’s able to suck you into its world this way. Its great soundtrack mixes with its strong presentation and its personality, and it embraces the inherent silliness of its premise. Even so, it manages to still keep its sharper edge when it needs to, forming a story that is, at its core, a mystery surrounded by characters you’d really like to see triumph. When it plays to these strengths, it highlights its best parts quite well, especially if you enjoy the themes it has at play.

The overall package of Yurukill: The Calumniation Games does give you enough content to really dig your teeth into, with a lengthy story mode to uncover, and its shmup side adding on to the replay value with its arcade mode. Your first run will really have you engrossed in its story and its characters, and its premise is enough to draw you in to appreciate its other modes. While it does have some minor issues on the Nintendo Switch (especially when the screen goes crazy with its visual effects), these barely detract from the singular experience it’s providing, and any fan of a good visual novel will find a place for it in his or her collection.

THE GOOD:

• Interesting genre mix of story, puzzle, and action gameplay

• Likeable characters with a tense and interesting premise

• Good artstyle and sprite design, combined with a strong visual flair during its shmup segments

THE BAD:

• Minor performance issues during tenser segments can be annoying

• Escape room segments are a bit too easy (and are impossible to fail due to the hint system in place)

• The story’s slow start may feel boring compared to its more developed plotlines later on

RATING: 8.5/10

POSTSCRIPT: Underneath Monark’s solid horror motif, there’s a ton of things to love. What looks like an overly edgy concept actually belies its strong role-playing-game mechanics. When combined with its slick, gothic vibe and smooth gameplay, it manages to hold its own in time. Though it has its flaws, particularly in its story, its presentation and gameplay is topnotch. And while some of its mechanics might throw you off, the way the game paces itself ensures that you land on your feet all the same.

In Monark, you play as a student from the Shin Mikado Academy. No ordinary school, Shin Mikado is enveloped by a mist that slowly drives its student populace mad. These mists are powered by demons, and these demons are your targets. You must team up with a ragtag group of misfits to bring them down before they cause too much undue harm. Along the way, you learn more about what you’re facing, talk and bond with your companions, and see their stories as well as that of the school you’re enrolled in unfold.

Monark does not really break new ground in terms of storytelling, especially when other Japanese RPGs start so similarly. However, it is able to keep things interesting through its unique features, particularly with its motifs in place. Borrowing heavily from dark, gothic imagery, each of the characters you will eventually use is symbolized by one of the seven deadly sins, and their backstories are tied to this. Each has his or her own personal demons to conquer, and have his or her own arc to go through. What’s more, there’s a slew of options you can choose to influence how the characters end up, which eventually leads down to diverging routes and storytelling differences that make you feel like you have an impact on what’s happening. These choices also directly affect what ending you’ll get, incentivizing repeat playthroughs in modes like NG+ to see all the content. Even your own personal character isn’t one pre-built into the story. You craft him or her yourself, influenced through a cryptic questionnaire you answer early on that changes what kind of skills he or she has. While this may seem minor, it’s the little touches like this that allow for a more personalized playthrough that feels unique to each person who picks it up.

The writing quality in Monark is, at the very least, competent. While the initial setup of the story may feel sluggish, a lot of it is deliberately meant to set the grim tone of the narrative. At times, it may even feel a little too depressing, as it strays away from moments of levity to dwell on darker emotions that may leave people feeling uncomfortable. While the game handles these topics tastefully, not many titles tackle these sorts of issues, and they frequently come up in the form of puzzles you need to finish, or enemies you need to beat down.

Meanwhile, the combat is anything but dour. Monark’s battles are where it really shines, asking you not only to make good use of your skills, but also to manage certain resources to make the most out of its systems. A lot of it will come naturally, of course; proper skill usage, proper positioning, proper use of buffs, debuffs, and heals — these are all concepts other JRPGs use. However, Monark adds in an additional layer through its Madness system. Misuse of it can both be beneficial and disastrous, as characters in the madness state not only get a tremendous buff to their damage potential; they also go berserk and attack the closest targets available. While a maddened party member will eventually die out when enough turns have passed, the provision allows you to pull off some very crazy combo potentials at the cost of risky moves. A similar effect can also be achieved by instead getting into an Awakened status, which also boosts your stats but doesn’t lose you control of your units. If you manage to achieve both at the same time, you become incredibly powerful, stacking both bonuses while still retaining full control of your character.

This might seem like a little thing, but this extra management you have to do in Monark means so much when skills either cost health or increase your madness bar. You’re always juggling whether to use up your health or if you’re fine with getting a little closer to going crazy, all while being swarmed by enemies who, while not exactly smart, are relentless in their aggression. Combat encounters will always necessitate this balance, and even during the slower segments of grinding away for levels and items, it’s always in the back of your mind just how much you’re willing to push yourself to make this fight a little easier.

This type of combat system does come with a cost, however. While it is engaging, it can also be draining, particularly in how the later enemies scale. Levels aren’t a suggestion so much as a necessity, and, more often than not, you’ll find yourself tempted to grind away for more stats. While easy to do, it suffers from the repetitiveness of having to do it in the first place. And while the story motif and environments hold up the first time through, they don’t remain that way once you have to repeat your trek through these dungeons with the hope of levelling up.

On the whole, this is pretty much the core concern of Monark. While it has some grand ideas about what it wants to do, its pacing suffers, not just from its mechanics but also from the design of its story. It’s meant to be a slow burn, but the decision comes at the cost — and to the point where the dragging moments may put down some of its well-thought-out aspects.

On the whole, Monark really succeeds at what it tries to do, but runs into some issues that some may not be okay with. That said, its uniqueness stands out. It’s not just an edgy JRPG riding on its inspirations; it’s got a lot of content to offer, and a lot of combat to enjoy.

THE GOOD:

• Enjoyable (if depressing and dark) story writing

• Well-thought-out combat system that rewards careful planning, and enables aggressiveness

• Lots of content on offer, with multiple endings to unlock

THE BAD:

• Questionable pacing, especially at the start of the game

• Enemies are more numerous than competent, which can lead to some dragging encounters in the later parts (particularly if you’re underleveled)

• Its tactical combat can feel repetitive during grinding

It’s not often that a title like Submerged gets to hit store shelves. While walking sims are still relatively popular, Submerged just manages to slip into that category due to how it’s presented, and your initial impressions of it might lead you to think otherwise. However, it does play out differently from others of its genre. Framed like an adventure game, Submerged is a short but sweet experience, focusing mainly on themes of exploration and family. Revolving around saving the life of your younger sibling, Submerged offers very little else other than this premise, and you’ll slowly be drawn into its surprisingly competent atmosphere. While it doesn’t take long to beat and is not very complicated, it does have a few interesting qualities to it that help keep it interesting all the way to the end.

Submerged’s story is pretty simple as it is. You are your brother’s caretaker, and you must find a way to help his injuries before they worsen. This means exploring the ruined city to its fullest, and finding what you can scavenge in its abandoned ruins. In the process, however, you must make use of your boat to travel around its flooded parts to find supplies, and to do some parkour and climbing to reach higher areas the water has not reached. While not much story is initially revealed, there’s a surprising amount of personality here on offer, particularly in the ruins you’re tasked to explore, where you traverse all sorts of abandoned buildings and overgrown sections.

This is the real meat of the experience. As you look into what Submerged has to offer, you discover that it has something beyond what the genre normally offers. Admittedly, it isn’t really much, not when games like Subliminal or The Stanley Parable offer a more dynamic experience. But, even then, there’s still something to appreciate. How you move from area to area is pretty smooth, making exploration feel seamless and satisfying, and you’ll check out all sorts of locations of interest, looking for whatever collectibles you can find. There are no enemies to fight or quick-time events to play out. You’re simply there for the ride.

While this might sound boring, it’s the environment that really makes its mark in Submerged, and the little mysteries it sets up when you encounter all sorts of creatures and locations overcome the lack of concrete storytelling the game normally gives out. Getting to explore the city to its fullest and piecing together its mysteries while looking out at its decayed exteriors is something most games dare not try, and it is stunning in how this little independent title seeks to pull this off. Its graphics are not stunning by any means, but the way it frames each location makes up for its shortcomings, especially with the way it manages to make the horizon work in tandem with the images you’re seeing. It frames areas you look at and arrays them against the bigger backdrop of the overall landscape, and honestly, it looks absolutely gorgeous despite the low-quality models on hand. There’s a timeless charm it manages to capture, and it adds a distinct feel to the ruins you have to look for – almost as if you’re intruding on something that has been long forgotten. Especially when the music hits and sets the tone so well.

However, while exploration is Submerged’s greatest asset, it also leads to the game’s dizzying lows. There’s a very unpolished feel to it at times, particularly in the animations which come off as very raw and simple by comparison. It’s nothing too out of the ordinary given the budget, but it does detract from the majesty of what you’re seeing. If anything, the real danger is in how it can feel so boring at times. Submerged is a walking simulator, and while it might hide that fact, once you realize it, it loses a bit of its mystery. Nothing hurts or harms you, and an adventure with no inherent danger is a story with no stakes. And with few real twists to look forward to, the mystery behind everything breaks down, because, really, what are you scared of in the ruins when nothing hinders your path?

Submerged is a short game, and while you can return to look for missing collectibles, it’s safe to say it’s not a title you’ll spend much time on, even if you do go for 100% completion. It lacks the ambition to go further with its premise, and while it’s an admirable little title that tries to achieve much, it  cannot hold a candle to the initial expectations it sets. It’s a nice little distraction, but yo’’ll play it, finish it, and move on to greener pastures before long.

THE GOOD

•Great music and interesting premise

•Nice environments and backdrops to explore

•Surprisingly atmospheric, with a story revolving around family and sacrifice

THE BAD:

• Short and sweet experience, with low replay value

• No challenge to it at any point, with not very memorable story beats compared to the grander mystery of the ruins you explore

• Low budget and rough character models contrast greatly with more picturesque environment

THE LAST WORD: 2K Sports has announced that Suns shooting guard Devin Booker will be featured on the cover of NBA 2K23.

The three-time NBA All-Star and 2021-22 Kia All-NBA First Team selection will appear on this year’s Standard Edition and cross-generation Digital Deluxe Edition. Meanwhile, living legend Michael Jordan will appear on — what else? — the NBA 2K23 Michael Jordan Edition and the limited NBA 2K23 Championship Edition. On the distaff side, all-time WNBA greats Diana Taurasi and Sue Bird will appear on the limited WNBA Edition.

NBA 2K23 will also reintroduce The Jordan Challenge, which encourages players to recreate 15 iconic moments from Jordan’s illustrious career. All four editions of the game will be available in digital and physical formats. Pre-orders have started, with the worldwide release scheduled for Sept. 9.

Filipino film project receives 2 funding awards in Korean Film Fest

HORROR film project Posthouse, directed by Nikolas Red and produced by Iana Bernardez, bagged two film funding awards at the Network of Asian Fantastic Films (NAFF) 2022 Awarding Night on July 12. NAFF was part of the Bucheon International Fantastic Film Festival (BIFAN) 2022 in South Korea.

Produced by the Filipino production company Epicmedia, the film won the Discover of Asia Award and the VIPO Award amounting to roughly $15,000.

The Discover of Asia Award is granted to a newcomer to the Asian genre film scene, while the VIPO Award is given to the best project by the festival’s premiere sponsor and partner, Visual Industry Promotion Organization (VIPO), a Japanese non-government organization that supports the creative industry.

The film “represents a new generation of filmmakers keeping the [Philippines horror] flame alive and praying homage to their cinematic predecessors, while making innovative and unique movies, mostly aimed at a raving young audience,” the producers said in a statement.

The NAFF, now on its 14th edition, has been supporting projects and cultivating filmmakers via its two programs, Project Market and Fantastic Film School.

Posthouse was one of 32 projects from 18 countries participating in the hybrid format of NAFF 2022 this year.

Posthouse tells the story of a worker in a post-production facility which is believed to be haunted. In a race against time, the man must complete a puzzle of disturbing images in order to save his daughter from a sinister entity.

The Posthouse team’s participation at NAFF 2022 was supported by the Film Development Council of the Philippines (FDCP) through its International Film Studies Assistance Program (IFSAP).

Mr. Red’s project has been part of two FDCP programs. In 2021, it participated as a short silent film at the Mit Out Sound International Silent Film Festival, and earlier this year, it was a selected project to undergo the Fiction Lab of the Full Circle Lab Philippines.

ICTSI recognized as 8th terminal operator globally

LISTED port operator International Container Terminal Services, Inc. (ICTSI) said on Thursday it was named one of the top global terminal operators.

“ICTSI ranked 8th among global terminal operators in terms of equity TEU based on the consolidated 10.1 million twenty-foot equivalent units (TEUs) it handled in 2020,” the company said in an e-mailed statement on Thursday, citing the latest Global Container Terminal Operators Annual Review and Forecast of maritime research firm Drewry.

In 2021, ICTSI’s consolidated throughput increased by 10% to 11.1 million TEUs as a result of the reopening of markets and improvements in trade amid the global health crisis.

The report also recognized ICTSI, which operates 33 terminals in 20 countries, as “the largest wholly independent port operator with a presence across six continents,” the company noted.

“Despite the slowdown of global trade during the past two years due to the COVID-19 pandemic, ICTSI continued to expand its operations with the addition of two new multipurpose terminals in Nigeria and Cameroon,” it added.

It also expanded its existing operation in Rio de Janeiro, Brazil, by adding rail logistics to its services.

The company allotted $250 million in capital expenditures (capex) for 2021 to fund projects in its flagship Manila International Container Terminal, Matadi Gateway Terminal in D.R. Congo, and Victoria International Container Terminal in Australia.

It has budgeted approximately $330 million in capex for 2022.

According to ICTSI Chairman and President Enrique K. Razon, Jr., 87% of the capex for this year will be used for the group’s expansion projects and 13% for maintenance.

Last year, ICTSI spent $165 million on expansion, maintenance, and new projects.

The listed port operator saw a 58% growth in its first-quarter attributable net income to $142.3 million from $90.1 million in the same period a year earlier.

The company’s revenue rose by 21% to $528.3 million, while its EBITDA — or earnings before interest, taxes, depreciation, and amortization — increased by 28% to $337.9 million. — Arjay L. Balinbin

Brad Pitt battles assassins in action thriller Bullet Train

Brad Pitt and Aaron Taylor-Johnson in Bullet Train

BERLIN — Hollywood star Brad Pitt fights off assassins on a high-speed train traveling across Japan in action thriller Bullet Train, reuniting with his former stuntman turned director David Leitch.

Mr. Pitt plays Ladybug, an unlucky assassin who wants to get a job done well before he finds himself battling a range of dangerous opponents, all with missions connected to his, on board the bullet train.

Based on Kotaro Isaka’s 2010 novel, the film also stars Sandra Bullock, Zazie Beetz, Aaron Taylor-Johnson, Joey King, Brian Tyree Henry, Michael Shannon, and Hiroyuki Sanada.

“Dave actually was my stunt man in ‘98…We met on Fight Club and he trained me for the fight and it worked so well,” Mr. Pitt told a news conference in Berlin on Tuesday, about Mr. Leitch.

“We went on with that pairing till about ‘04 with a bunch of other films, and then he left me to do other things, and now it’s come back full circle so it’s really nice for me to have him as the boss now.”

The film features plenty of stunts and fight scenes as the assassins all seek to get hold of a briefcase.

Mr. Leitch, who directed Atomic Blonde, Deadpool 2, and Fast & Furious Presents: Hobbs & Shaw, said he sought to balance the film’s violence with comedy.

“It’s always a balance of tone in a movie… I think creating a heightened world… allows us to get away with more things,” he said. “So we’re in this sort of comic book world, this escapist fantasy world and we can play with some of those darker ideas.”

The film’s cast and crew are promoting Bullet Train in Europe this week ahead of its global release in early August.

“I didn’t even realize it’s been like three years because we’ve been in lockdown and haven’t brought anything to a table in a while,” Mr. Pitt said of returning to the promotional trail.

“It’s just nice. We all put everything we had into telling the story. It’s come together.. .and it’s really nice to now let it go, hopefully people will be enjoying it together in the theater, laughing.” — Reuters

Fighting Philippine team out to improve ASEAN Para Games finish in Solo

PHILIPPINE Paralympic team in Tokyo Para Games. — PHILIPPINE SPORTS COMMISSION

THE 144-strong Philippine team sets out on a mission to improve on a fifth-place finish in the last staging of the ASEAN Para Games five years ago as it plunges into action in the 11th edition slated July 30 to Aug. 6 in Solo, Indonesia.

The Filipinos harvested 20 gold, 20 silver and 29 bronze medals the last time the biennial meet was staged in Kuala Lumpur, Malaysia and there is high hopes they could eclipse it, if not match the haul.

“This is a hungry team, a fighting team that is eager to showcase their skills and talent after being deprived of international competition for over two years due to the COVID-19 pandemic,” said Philippine Paralympic Committee president Mike Barredo, who thanked the Philippine Sports Commission for bankrolling the trip.

“I would not be surprised at all if many of our national para athletes will strive harder than ever before in making the most of this opportunity to bring honors to our country in the 11th ASEAN Para Games,” he added.

The track team will spearhead the charge as it has fielded in the biggest delegation at 24 headed by Tokyo Olympians, wheelchair racer Jerrold Mangliwan and thrower Jeanette Aceveda.

Next up are the 22-strong chess squad headed my 2018 Jakarta Asian Para Games quadruple gold medalist and FIDE Master Sander Severino while the Tokyo veteran duo of Ernie Gawilan and Gary Bejino lead the 12-member swim squad.

Other events the country are seeing action are archery (nine), badminton (eight), boccia (four), goal ball (six), judo (five), powerlifting (eight), sitting volleyball (10), table tennis (13), and men’s and women’s wheelchair basketball (12 and 11).

All in all, the country will have 212 delegates to Solo that included officials, chef-de-mission Walter Torres and coaches. — Joey Villar

Panglinan, Tan join public relations congress

MANUEL V. PANGILINAN and Kevin L. Tan will headline the list of business icons who will share their thoughts on the role of communications in shaping the country into the “next normal” during the National Public Relations Congress in September.

The event, hosted by the Public Relations Society of the Philippines (PRSP), is scheduled on Sept. 1 and 2 at The Peninsula Manila in Makati City.

“We are very excited to present a roster of speakers and panelists, not just from the communications industry but also from the business community, who believe that the public relations profession is integral to their organizations’ growth and success,” said Harold C. Geronimo, PRSP president.

Mr. Pangilinan is the chairman of the MVP group of companies, and Mr. Tan is the chief executive officer of Alliance Global Group, Inc.

The other business leaders who will join the high-level discussions are Bernie Liu, founder and chief executive officer of the Penshoppe group; June Cheryl A. Cabal-Revilla, chief financial officer and chief sustainability officer of Metro Pacific Investments Corp.; and Christian R. Gonzalez, executive vice-president and chief risk officer of International Container Terminal Services, Inc.

Flying in from overseas are Prita Kamal Gani, president of the ASEAN Public Relations Network; Jaffri Amin Osman, executive member of the Global Alliance for Public Relations and Communication Management; Fiona Cassidy, president of the PR Institute of New Zealand; and Boy Kelana Soebroto, general chair of PERHUMAS.

Cathy Yang, chairperson of the National PR Congress, said this year’s event “aims to inspire through thought leadership from those who thrived throughout the pandemic and served others through effective and empathic communications during the most challenging two years globally.”

She added that the first-ever joint congress “aims to propagate truth, innovation, and progress as key anchors for communicators. Through this convergence, we hope to continue responsibly and sustainably help rebuild and reopen our economy.”

This year is a milestone for PRSP as it will be the first time that it will hold the congress as a joint hybrid event for the 29th National PR Congress and the 28th Student PR Congress.

Franz dela Fuente, PRSP treasurer, said the 28th Students’ PR Congress, which he chairs, “aims to offer a fresh and clear perspective for tomorrow’s communicators. To effectively communicate under a better normal, we need to equip our young communicators with a refreshed mindset, engage them through thought-provoking discourse, and empower them to make the right decisions to help build a better nation.”

Organized by PRSP, the PR Congress is the largest congregation of public relations practitioners across industries in the public sector, civil society and students in the Philippines.

College of St. Benilde Lady Blazers eye perfect season

COLLEGE of St. Benilde Lady Blazers. — SYNERGY/GMA NETWORK, INC.

THE USUAL feeling of one who is on the cusp of greatness should be exhilaration, excitement with some nervousness thrown in on the side.

Shockingly, it was not the atmosphere inside the practice facility of the College of St. Benilde (CSB) Lady Blazers on the eve of what could be the defining moment of their lives — a Game Two duel with the Arellano University (AU) Lady Chiefs for the NCAA Season 97 volleyball diadem at the Filoil EcoOil Centre today.

“The team has low morale,” a source yesterday told The STAR.

The same source was referring to some individual awards that didn’t go the CSB players’ way including one that hurts the most — the Best Setter plum that the team felt should have gone to the incredibly efficient and reliable Cloanne Sophia Mondonedo.

It actually started when the squad received the list of the season individual awardees the day before the finals opener.

Of all the CSB players, only skipper Francis Mycah Go will bring home individual trophies — the Most Valuable Player and first Best Outside Spiker.

The other achievers to be honored today are second outside spiker Dolly Grace Versoza of Jose Rizal U, first and second middle blocker Zonxi Dahab of Lyceum of the Philippines U and Mapua’s Alyanna Nicole Ong, best opposite spiker Reyann Cañete of San Sebastian, best libero Alex Cyra Salvaloza of Emilio Aguinaldo College, best setter Venice Puzon of LPU and rookie of the year Katherine Santos of SSC.

“CSB was stats leader in the team in setting and Clo (Mondonedo) was also individual leader. Their relatives are livid about the results, that’s why they were bothered when they played,” said the same source.

In spite of it, the Lady Blazers came out playing bigger than themselves, fought off their inner demons and vented their ire on the poor Lady Chiefs with a merciless 25-21, 25-11, 25-10 destruction Wednesday.

It was a win that sent CSB on the verge of an amazing title sweep and second crown overall after reigning supreme in its breakthrough triumph seven years ago.

AU, in contrast, will desperately muster the last of its remaining strength and willpower, hoping to equalize and send the series into a decider on Sunday for a chance at a four-peat feat.

But CSB should go all out and try to replicate the same fighting form it showed last time when it returns to battle in Game Two set at 2 p.m. and keep an eye on the biggest prize of them all — a dream perfect season. — Joey Villar

DICT says Cities project generated 375,000 jobs

DICT FACEBOOK PAGE

THE Department of Information and Communications Technology (DICT) said its Digital Cities 2025 Program with private partners, the IT and Business Process Association of the Philippines and Leechiu Property Consultants, has so far created 375,000 jobs nationwide.

“At present, the Digital Cities 2025 has created 375,000 jobs from the IT-BPM (Information Technology and Business Process Management) industry,” Information and Communications Secretary Ivan John E. Uy said during the “Liveable Cities Labs: Building Digital Cities” virtual forum on Wednesday.

“The total economic impact outside of Metro Manila is about P5.6 billion every month,” he added.

The program has been pushing for inclusive growth and development since 2009, he noted.

The Philippines dropped out of the top 10 countries that are considered attractive destinations for technology, digital and innovation, and business process management, after a decline in the workforce during the pandemic, according to the Tholons Global Innovation Index 2021.

From fifth place in 2020, the Philippines ranked 18th among the Top 50 Digital Nations last year.

For the sake of the IT-BPM industry, the digital workforce must be expanded, Mr. Uy said.

“There is a pending bill in Congress on the digital workforce. I think our legislators (now see) the importance of building up a digital workforce in the country,” he noted.

“There are a lot of gaps in the (IT-BPM) sector, especially because most of the talent produced by our universities does not seem to match the industry’s needs.”

There were 31 cities in the Digital Cities Program last year, according to the DICT. These include Balanga, Batangas, General Santos, Iligan, Legazpi, Puerto Princesa, Taytay (Rizal), Tuguegarao, and Zamboanga.

They were identified based on four major metrics — talent, business environment, infrastructure and cost of doing business.

“These digital cities will, we hope motivate existing players to expand beyond the National Capital Region and encourage new ones (IT-BPM companies) to set up shop in the Philippines,” the DICT said in its report. — Arjay L. Balinbin

BPI Q2 net income almost doubles after asset sale

BANK of the Philippine Islands (BPI) posted a higher net profit in the second quarter and the first half, driven by a net gain on an asset sale and tax adjustments, improved revenues and lower provisions for bad loans.

BPI’s net income rose by 82.9% to P12.5 billion in the quarter ended June 30 from the P6.8 billion recorded in the same period last year, the bank said in a disclosure to the stock exchange on Thursday. Excluding the impact of the asset sale, the lender’s net income in the quarter was at P8.7 billion.

This brought the lender’s net earnings for the first half of the year to P20.4 billion, up by 73% from the P11.75 billion seen in the same period in 2021.

Excluding the impact of the asset sale and tax adjustments, BPI’s net income stood at P16.7 billion in the first semester, up by 24% year on year.

“This result is inclusive of a net gain on sale of property and tax adjustments due to the CREATE (Corporate Recovery and Tax Incentives for Enterprises) Law,” the bank said.

The lender’s end-June net income translated to a return on equity of 13.98%, while return on assets was at 1.71%.

BPI’s revenues in the second quarter went up by 35.6% to P32.3 billion for the quarter amid higher net interest and non-interest earnings. Without the proceeds from the asset sale, revenues were at P27.3 billion in the period.

This caused revenues in the first half to climb by 19.8% to P57.6 billion.

Net interest income grew by 16.2% to P39.3 billion in the first half as net interest margin rose by 15 basis points to 3.46% from 3.32% on the back of a growth in loans.

Non-interest income also climbed by 28.4% to P18.3 billion in the semester, which the bank attributed to a 42.2% increase in fee income. This was tempered by “notably lower” securities trading gains due to a high base.

The bank’s total operating expenses in the first semester rose by 7.3% to P25.8 billion from a year earlier amid increased investments in technology. Its cost-to-income ratio stood at 44.8%.

Excluding income from asset sales, its cost-to-income ratio was at 49.1%.

BPI’s loan portfolio grew by 14.4% to P1.6 trillion as of June due to higher volumes across the board, led by the corporate (up 16.3%), small and medium enterprises (16.5%), and auto (5.9%) sectors.

Its nonperforming loan (NPL) ratio stood at 1.99% at end-June, down from the 2.94% seen a year earlier. NPL coverage ratio was at 170.7%.

With asset quality improving, the bank’s provisions for credit losses declined by 23.1% to P5 billion at end-June from P6.5 billion last year.

“The sustained strong metrics in asset quality resulted in a continued decline in credit cost to 66 basis points, towards pre-pandemic levels,” the bank said.

Meanwhile, deposits with the bank grew by 18.3% year on year to P2 trillion. BPI’s current account, savings account (CASA) deposits increased by 12.6% for a CASA ratio of 79.2%.

The bank’s loan-to-deposit ratio was at 78.1%.

“Both loan and deposit volumes remain above pre-pandemic levels,” BPI said.

The bank’s assets climbed by 13.1% to P2.5 trillion at end-June, while total equity was at P304.1 billion.

Its common equity Tier 1 ratio stood at 16% and its capital adequacy ratio was at 16.9%, both beyond the central bank’s minimum requirement.

BPI’s shares closed unchanged at P89 apiece on Thursday. — K.B. Ta-asan