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Hollywood studios embrace live experiences amid film, TV gloom

NETFLIX’s Queen’s Ball is a touring version of its hit show Bridgerton. — NETLIX.COM/CORINA MARIE

NETFLIX, INC. has had over 70 marriage proposals at the Queen’s Ball, a touring version of its hit show Bridgerton.

The events, which involve picking an attendee to be honored by the queen, are frequently posted online, according to Greg Lombardo, who heads the live experiences business at the streaming TV service.

“It just creates such conversation out there and supports that title in between those season releases,” Mr. Lombardo said on Friday at an industry event.

Netflix, Warner Bros. Discovery, Inc., and other entertainment companies are looking beyond films and TV shows, opening hotels, restaurants, and other attractions to deepen their relationships with viewers. Unlike other parts of the industry, where participants lament budget cuts, tepid movie ticket sales, and jobs moving overseas, the attractions business is booming.

Paramount Global’s hotel portfolio has expanded to 1,500 rooms from 200 in the past three years, according to Marie Marks, who leads the company’s experiences business. Another 2,000 rooms are in development, tied to classic Paramount films and its Nickelodeon kids brand.

Warner Bros., which is building a Harry Potter studio tour attraction in Shanghai, also has a hotel adjacent to a theme park in Abu Dhabi.

“The appetite to go out and do stuff has never been higher,” said Peter van Roden, executive vice-president for themed entertainment at the company. “The hotel’s just killing it down there.”

The three were among the executives speaking at a conference run by the Themed Entertainment Association, a trade group representing attractions designers.

Walt Disney Co. said in 2023 it planned $60 billion in capital expenditures at its experiences division over the next decade. That includes introducing new cruise ships and theme-park rides. Comcast Corp.’s Universal experiences division is in the midst of its greatest expansion, which includes a $7-billion theme park opening in May in Orlando, a horror-themed attraction in Las Vegas and a park for younger kids outside of Dallas.

“We are really looking into these different markets and really expanding the product that we already deliver,” Eric Parr, a senior vice-president who leads the creative studios at Universal, said on a panel at the event.

Not everything sticks. A high-end, Batman-themed restaurant in London closed after two years.

“That was not really about money-making,” Mr. Van Roden said. “It was about how could the DC franchise do an amazing, really cool eating experience.”

Netflix has opened restaurants such as Bites in Las Vegas, which serves food tied to its TV shows, including Orange is the New Mac (and cheese) and a Love Is Blind cocktail.

The company is establishing two, year-round Netflix Houses in malls this year, one in suburban Philadelphia and another in Dallas. They’ll feature experiences like waltzing on a Bridgerton set and the glass bridge challenge from Squid Game. Touring experiences have appeared in over 100 markets and can be tweaked to include local culture, Mr. Lombardo said.

There are some Netflix programs that may not work for the immersive experience, such as Ozark, which involves money-laundering, Mexican drug cartels and the occasional body being found in a lake.

“I’d be hard pressed to expect a lot of people to go to that,” Mr. Lombardo said. Bloomberg

CinePanalo 2025 Pocket Reviews: Diving deep and finding limitations

By Brontë H. Lacsamana, Reporter

WHILE the seven full-length films and 24 student-led shorts of the 2nd edition of Puregold’s CinePanalo Film Festival provide an exciting array of stories from all over the Philippines to see, a shadow looms over the event due to a stark omission.

Baby Ruth Villarama’s Food Delivery: Fresh From the West Philippine Sea was dropped from the line-up at the last minute, so the documentary about the situation in the West Philippine Sea (WPS) was unable to screen alongside the seven other feature films. The reason given for its removal was the rather vague “external factors,” which elicited whispers among the crowd on the film festival’s opening night, March 14, at Gateway Mall 2 Cineplex in Quezon City.

Like last year’s Cinemalaya film festival, which canceled the documentary Lost Sabungeros for security reasons and barely screened the anti-Ayala Land documentary Asog (Cinemalaya was held in an Ayala mall that year), CinePanalo is also under the mercy of its backers and sponsors. Why the festival chose not to stand by the WPS documentary it funded is a question that will probably never be answered, though speculation abounds.

But, of course, the show must go on, and the opening night’s proceedings were outwardly lively and filled with excitement for the entries having their premieres. Robbed of the chance to see the film I was most excited to watch, I opted for two others that also seemed to delve into the depths of their respective stories — figuratively and literally, as they are both also set by the sea.

Here are my reviews:

SALUM
Directed by TM Malones

Salum (meaning “to dive” in Hiligaynon) is about a father and daughter who work as scallop divers to earn a meager living in northern Gigantes Islands, in Carles, Iloilo, where shellfish is plentiful. While this setting offers great potential to educate viewers on the realities faced by divers there, this film only lightly touches on those issues and focuses on a family-oriented story.

The narrative is simple, centered on a father’s deep love for his daughter, although he is unable to provide the comforts that she deserves. Allen Dizon takes on the role of the father, Kosko, who has been left behind by his wife who is in Japan and he now struggles to provide for his only daughter. Christine Mary Demaisip plays 13-year-old Arya who is more than happy to help out her father in diving for scallops, though she wishes they could afford to buy her a phone.

Both leads, nominated for Best Actor and Actress at the festival, assume their roles with ease. The former embodies the pressures of a father who is driven mad by his limitations and by the rumors of unimaginable wealth that can ease their situation. However, it’s kind of odd that he’s the only character who speaks Tagalog while the rest speak Hiligaynon. Demaisip, though young, is as natural an actress as she is a swimmer, expressing the concern a daughter would have for a father under pressure. Both Dizon and Demaisip can be commended for actually doing the diving in the film, too, using the round flippers called yapak that real scallop divers in the region use.

The film paints the life of Filipino shellfish divers as one filled with life-threatening risk and exploitation. We briefly see compressor diving, which differs from freediving as it uses a basic form of surface-supplied assistance in the form of a battery-powered compressor that feeds air into a long hose for a diver to use underwater. This is dangerous due to the unreliable nature of the outdated, rusty equipment that can break down at a moment’s notice, and also due to the lack of technical stops done from the depths. Kosko mentions that his father was a victim of this, as many divers resorting to the method suffer from decompression sickness that can lead to blindness, paralysis, or even death.

Then there is a rumor that one of the clams Kosko and Arya sold to a rich businessman allegedly contained a pearl worth millions. Dizon then convincingly takes on a father’s feverish descent into finding treasure to give his daughter a comfortable life. The film speaks to the dangers of letting such false hopes and ambitions lead people to their downfall, similar to how the divers resort to unsafe practices like compressor diving. But the film never clearly makes this connection, instead throwing in issues of land ownership with Kosko mentioning that his father’s family used to own Silangan Island, until they were pressured to sell it for a pittance to a developer who has now turned it into a resort.

Salum honors the perseverance of those making an honest living while also depicting the circumstances that lead them to poverty. However, its attempts to dive into (excuse the pun!) certain issues feels insufficient. Kosko’s brief madness is treated as a learning experience, though he goes so far as to wastefully shuck piles of clams and scallops and even break the law by using an unregistered boat. The tragedy of his situation, while compelling, never fully serves the realities of Filipino seafood diving that were presented in the film. Ultimately though, it’s a solid representation of the kind of uplifting story that CinePanalo is going for. That people are there to help, and that an honest living is the most noble, is a great conclusion to the drama, marked by excellently filmed diving footage. But Salum also cracks open exactly what limits projects that are submitted to the control of film fests — that the stories told are toned down to fit its limiting, uplifting, family-friendly criteria.

FLEETING
Directed by Catsi Catalan

Fleeting is a beautifully filmed love letter to the short yet sweet nature of improbable romances. It appears to be the softest and gentlest film in the lineup. It follows Janella Salvador as Gem, a dreamer who moves to Mati, Davao, to attend flight school and fulfill her ambition of becoming a pilot. There, her workaholic, fully online life clashes with the slow-living mantra of RK Bagatsing’s JC, the surfer owner of the resort and café she’s staying in, who actually turns out to be the black sheep heir of a cacao farm.

Salvador and Bagatsing, also nominated for acting awards at the festival, play their parts to perfection. This being director Catsi Catalan’s debut is not obvious as she manages to bring out the best of both the leads’ talents — a mix of ferocity and vulnerability on Salvador’s part, and a blend of arrogance and mystery on Bagatsing’s — while also giving us a nice film to look at. Fleeting is a love letter to the meeting of two worlds: the calm, meandering pace of provincial Davao Oriental and the frenetic pace and pressures of the city; the reliable ebb and flow of the waves at sea (representing JC’s love for surfing) and the overwhelming vastness of the picturesque sky (representing Gem’s love for flying); the full surrender to the present moment and the yearning to connect with the rest of the world.

There are echoes of the typical romance here, not exempt to cliched lines galore, except there is no major conflict to dramatically wedge the two characters apart. The film instead has them meet, dance around each other, come together in poignant moments of understanding, and ultimately come apart. It’s all stretched out, at times to its detriment, some parts just made to entice you to visit Mati and try sikwate hot chocolate (admittedly it entices very well!). But its approach to love is as tame and natural as a beachside view of the horizon parting the heavens and the earth.

The scenery makes for a quintessential travel-oriented romance, with Gem starting out as a basic city girl tourist on the beach who pushes for JC’s café to have Wi-Fi. None of it really goes anywhere as they are shown to easily adjust to each other later on, him agreeing to have her market the café on social media, and her no longer pushing him to install Wi-Fi.

There’s also a little issue with how the guy turns out to be rich, being able to come and go to his family’s farm as he pleases (which isn’t usually how the black sheep of any family would behave). The resort-café also seems to operate on its own logic, having existed long enough for Gem to find it despite supposedly almost going bankrupt, as if JC is so incompetent as to not know the basic rules of running a business. It’s as if his being a mysterious black sheep of a rich family is an excuse for all of this to happen — as per the formula of many other romcoms before it. Fleeting turns out to not be any different when it comes to that.

It achieves its purpose, though, promoting Mati as a picturesque destination that many audience members will want to look into for their next vacation. The premise is old and bland, yet gorgeously told as the visuals of sea and sky parallel the characters’ differing paths in life. Again, it’s good enough for a debut and fully in line with the best CinePanalo has to offer.

Converge eyes up to 16% revenue growth

PHILSTAR FILE PHOTO

CONVERGE ICT Solutions, Inc. expects its revenues to grow by up to 16% this year after posting a P10.8-billion net income for 2024.

In a regulatory filing on Monday, the listed fiber internet provider said its profit rose by 18.9% to P10.8 billion from P9.09 billion in 2023.

“With the company’s strong trajectory and the industry’s broad underserved market, the company’s well-engineered products are well-positioned to capitalize on this growth potential,” Converge said.

The company’s total revenues increased by 14.8% to P40.61 billion from P35.36 billion a year earlier.

Broken down, revenues from its residential business rose by 14% to P34.42 billion, while enterprise revenues grew by 22% to P6.19 billion from P5.08 billion.

Converge said its FiberX subscriber base expanded by 196,419 during the year, 57.9% higher than the previous year.

Its small and medium enterprise segment remained the company’s fastest-growing subsegment.

“At Converge, our vision has always centered on giving amazing digital experiences,” Converge Executive Vice-President and Chief Commercial Officer Benjamin B. Azada said.

In January, Converge secured a Tier 3 design certification for its Caloocan data center, which is expected to go online this year.

The certification signifies compliance with industry standards for maintainability and redundancy, Converge said, adding that the facility is designed to accommodate 300 racks.

In a regulatory filing on Monday, the listed fiber internet provider said its profit rose by 18.8% to P10.8 billion from P9.09 billion in 2023. — Ashley Erika O. Jose

PITX says passenger traffic rose 31.7% in 2024

PHILIPPINE STAR/EDD GUMBAN

THE Parañaque Integrated Terminal Exchange (PITX) expects to serve its 200 millionth passenger within the second quarter after recording higher foot traffic last year.

PITX, which opened in 2018, had served 178.9 million passengers and recorded over 5.4 million vehicle departures as of end-2024, it said in an e-mail statement on Monday.

In 2024 alone, the landport saw a 31.7% increase in passenger traffic to 51.56 million from 39.16 million in 2023, driven by new routes and partnerships with transport operators.

PITX said the opening of the Light Rail Transit Line 1 PITX (Asia World) station in November last year contributed to foot traffic, with an estimated 20,000 passengers arriving and departing daily.

“The consistent rise in daily foot traffic since our opening in 2018 highlights the increasing reliance of commuters on PITX as a safe, seamless, and convenient transport hub. We take this as a responsibility to continuously innovate and expand our services to meet growing demand,” PITX President Jaime Raphael C. Feliciano said.

Last year, PITX launched six new routes in Luzon and two in Visayas to enhance nationwide connectivity.

It also expects a boost from the upcoming P1.87-billion Cavite Bus Rapid Transit (BRT) system, which will feature a point-to-point route spanning 42 kilometers across Imus, General Trias, Tanza, Kawit, Trece Martires, and surrounding areas. The project’s first phase is set to be operational in the second half of the year.

“Our long-term strategy is to solidify PITX as the gold standard for landports in the Philippines by expanding its intermodal capabilities, integrating emerging transport systems like the Cavite BRT, and enhancing nationwide connectivity through strategic infrastructure investments,” Mr. Feliciano said.

“By doing so, we are not just improving commuter mobility — we are actively shaping the future of the country’s transportation network,” he added.

PITX is the landport subsidiary of Saavedra-led infrastructure conglomerate Megawide Construction Corp.

The transport hub hosts various modes of transport, including city and provincial buses, modern and traditional jeepneys, and transport network vehicle services. It serves as a terminal for over 105 bus routes — 72 provincial and 33 in-city.

On Monday, Megawide shares rose by 0.88% or two centavos to P2.29 apiece. — Revin Mikhael D. Ochave

Game of Thrones actor joins biopic Quezon

IAIN GLEN (R) joins Jericho Rosales in Manuel L. Quezon biopic.

GAME OF THRONES actor Iain Glen is joining the cast of TBA Studios’ biographical historical movie Quezon, the film company announced on March 17.

Mr. Glen, whose credits include the role of Jorah Mormont in the fantasy drama TV series Game of Thrones, has been cast as Leonard Wood, the United States Army major who served as governor-general of the Philippines. Mr. Wood played a pivotal role in Manuel Quezon’s quest for Philippine independence from the United States.

The Scottish actor met the cast and crew of the film for their script reading at The Manila Hotel earlier this year.

Quezon director and co-writer Jerrold Tarog said the casting of Mr. Glen as Leonard Wood makes the film “much more alive.” “(Iain Glen) has gravitas. But at the same time, he can let loose, which is important for the role of Leonard Wood,” he said.

TBA Studios President and Chief Operating Officer Daphne O. Chiu, said: “This film is shaping up to be one of the biggest productions in Philippine cinema, with one of the largest casts ever assembled. We are excited to share with Iain — and the rest of the world — the production scale and level of artistry that Filipino filmmakers are capable of.”

Mr. Glen joins Jericho Rosales, who plays the film’s title role of Philippine President Manuel L. Quezon. Quezon, which is expected to follow the life of the Filipino lawyer and soldier who became the President of the Commonwealth of the Philippines from 1935 to 1944, is set to begin production this March.

How malls celebrate women

INTERNATIONAL Women’s Day may be over, but there are still plenty of Women’s Month events being held throughout Metro Manila. Malls, being the place many Filipinos frequent, are among the largest organizers of these events.

Whether you are in transit, whiling away the time, or finding somewhere to bond with family or friends, there are quite a few women’s events to choose from in malls around the metro.

Here they are, from north to south:

SM NORTH EDSA’S BEAUTYVERSE FAIR
Ongoing until March 31, the Beautyverse Fair at the upper ground level of SM North EDSA in Quezon City welcomes women to check out beauty finds offered by merchants throughout the area. Participants include Sunnies, Happy Skin, and BLK Cosmetics, among many others. There is also a photo spot where women can take pictures.

ROBINSONS GALLERIA’S ‘TREATS FOR HER’ OFFERING
To celebrate Women’s Month, Robinsons Galleria in the Ortigas Center, Quezon City, is offering “Treats for Her,” where shoppers get a chance to win a special treat. From March 22 to 23, they can present a single receipt of P2,500 from any food and beverage outlet to the Guest Services booth on the mall’s Level 3 and claim a prize.

SM MEGAMALL’S MEGA HUE DINER
For a space where women can sip, dine, and relax, SM Megamall in Ortigas Center, Mandaluyong City has put up a mega diner at the Mega Fashion Hall in Level 3. Running until March 31, the area offers treats from shops like Araro Gelato, Weekday Coffee, Chotto Matcha, and We Knead Pastry Shop.

Meanwhile, the Cutie Claw Machine gives visitors the chance to win beauty, fashion, and wellness gifts.

SHANGRI-LA PLAZA’S RFLXN PHOTO EXHIBIT
With RFLXN: The Many Faces of a Woman, Shangri-La Plaza in the Ortigas Center, Mandaluyong City, captures a visual narrative that celebrates the complexity, strength, and evolution of women. The photo exhibit will showcase the many faces of women’s beauty and will run from March 20 to 30 at the East Wing of the mall’s mid-level.

SM MALL OF ASIA’S WEDNESDAY SALE
For Women’s Month, the SM Mall of Asia in Pasay City is offering deals for women on Wednesdays. On March 19 and 26, mallgoers can check out buy-one, get-one and 50% off deals, applicable to various stores throughout the mall, from anti-aging skincare and fragrances to shoes, underwear, and workout clothing.

AYALA MALLS MANILA BAY’S WOMENPRENEUR FAIR
Right in the middle of the expansive Ayala Malls Manila Bay in Parañaque City is the Activity Center, where a market filled with women entrepreneurs is selling various goods and services until March 22. Titled the “Womenpreneur Fair,” it is organized by the Academy for Women Entrepreneurs and is open daily from 10 a.m. to 9 p.m.

The female health tech company Kindred also has a pop-up until March 23, where it offers 40% off on all its products and services, to promote women’s health to mallgoers.

Finally, on March 22, from 1 to 3 p.m., GoNegosyo will hold a talk on women empowerment and business insights for the women entrepreneurs in attendance.

ALABANG TOWN CENTER’S ‘BRIGHT & BEAUTIFUL’ POP-UPS
Billed as an “ode to female friendship and creativity,” the pop-up event “Bright & Beautiful” at the Alabang Town Center in Muntinlupa City will run from March 27 to 30. Held at the Activity Center, it will have stalls offering beauty finds and free makeovers from select merchants as well as a market of clothes and accessories by local creators.

Starting March 28, the sports, hobbies, and fitness area in front of Toby’s will host a series of workouts every day at 10 a.m.

Finally, on March 29 and 30, Bumi & Ashe will have pottery, rug tufting, and silver clay jewelry making workshops which will be open to all. — BHL

Breaking free

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Our nation’s greatest tragedy is not poverty, corruption, or external threats — it’s our paralysis in the face of these challenges. The current socioeconomic-political system, dominated by oligarchs and political dynasties, has proven immune to reform, absorbing and neutralizing every attempt at change. Elections, legislation, and advocacy have become ritualistic exercises in futility. The rules of engagement are skewed in their favor, leaving ordinary Filipinos demoralized and disillusioned.

We’re shackled by a small elite that wields disproportionate influence over our lives.

Despite decades of reforms and promises of change, the entrenched elites remain in place. From land reform programs under President Corazon Aquino, to across-the-board reform initiatives of President Fidel Ramos, to anti-corruption campaigns in subsequent administrations, every initiative has been diluted or derailed by oligarchic resistance. Even the Marcos experiment in authoritarian rule failed to dismantle the oligarchic structure.

Working within this system has repeatedly failed. The persistence of patronage politics and crony capitalism underscores the futility of conventional approaches. The question before us now is not whether change is needed, but how it can be achieved in a way that bypasses or disrupts oligarchic control. To break free, the Philippines must embrace innovative strategies that mobilize all sectors of society while circumventing traditional power structures.

Any good son and daughter of the Republic realizes from repeated bad experience that there’s no point in sticking to conventional approaches. It’s time to consider embracing creative disruption — tactical, unconventional, and relentless strategies that bypass or dismantle the system’s safeguards against real transformation. Most of us who’ve been there and done that, including enlightened oligarchs whose businesses actually uplift the poor, will reasonably agree that our “extraordinary situation requires extraordinary whole-of-nation actions.”

Here’s an assembly of ideas, distilled from regurgitating discussions, for discussion and consensus building on what Filipinos should be prepared to do to break free and take concerted action, come what may. But before doing so, it’s crucial to level off by agreeing first on what the common vision is to serve as the basis for strategies, goals, and relevant plans of action.

1. ECONOMIC PARALLEL SYSTEMS
The Philippine economy is held hostage by powerful interests that control life’s essentials — power, water, food, telecoms, banking, information. Attempts at reform have led to monopolistic shell games that merely reallocate control within the same circles. A true economic revolution requires direct, decentralized action.

Boycott and Replacement. A systematic, grassroots effort to establish cooperative and community-driven alternatives. Decentralized finance (DeFi), blockchain-powered microbanks, and peer-to-peer trade networks offer unprecedented opportunities to bypass traditional oligarchic control.

Energy Independence Cells. The failure to modernize the power sector should be countered by localized, self-sustaining microgrids and alternative energy collectives, such as small-scale solar, hydro, and geothermal barangay-based cooperatives.

Urban Farming and Food Sovereignty. Communities should adopt a war footing for food self-sufficiency — rooftop farms, aquaponic stations in urban slums, and large-scale cooperative farming on idle lands backed by digital supply chain coordination.

2. TACTICAL POLITICAL WARFARE
The oligarchic machine has perfected the art of neutralizing electoral, legislative, and investigation threats. Disrupting it in a way that accelerates its collapse might be a better approach.

The Trojan Horse Strategy. Embed operatives to create chaos within corrupt institutions — sowing dysfunction, sabotaging deals, ensuring bureaucratic gridlocks.

Digital Guerrilla Warfare. A dedicated Filipino information insurgency to systematically expose corruption, support whistleblower networks, and undertake crowdsourced investigations at an industrial scale.

Hyperlocal Revolts. Thousands of small, simultaneous, uncoordinated acts of defiance — public office sit-ins, public space occupations, bureaucratic work slowdowns, lightning street protests can overload and short-circuit the system.

3. GOVERNANCE WITHOUT PERMISSION
Build a new system alongside the old one to render it obsolete.

People’s Courts and Arbitration Networks. Communities should form arbitration councils that resolve disputes fairly and efficiently. If these gain credibility, even businesses will prefer them over official courts.

Underground Education Networks. Public education has failed to produce critical, patriotic, and capable citizens. A parallel system of underground schools — teaching true history, good manners, right conduct, a culture of service and patriotism, critical thinking, modern skills, entrepreneurship — to raise a new generation of Filipinos.

Autonomous Zones. Create self-sustaining enclaves of functional governance, communities that have their own financial, security, and infrastructure system.

4. REPROGRAMMING THE FILIPINO MIND
The deepest wound inflicted by colonialism and oligarchic rule is psychological. Filipinos have been conditioned to feel powerless, accept suffering, and see themselves as perpetual victims. This must be undone through a systematic campaign of radical reawakening.

Mythmaking and Identity Engineering. We must cultivate a new heroic narrative of defiance, resilience, and triumph aggressively propagated through films, music, art, and social media.

The Culture of Martial Readiness. We need to train in self-defense, community security, and emergency response through voluntary civic networks, and to also serve as psychological deterrents to foreign invasion and internal oppression.

Shame as a Political Weapon. A cultural shift must be engineered where betrayal by political parties, unworthy candidates, publicity agencies, and electoral bodies, is met with public humiliation so severe that it will be feared more than legal consequences.

5. STRATEGIC CHAOS
Change won’t come easily nor peacefully. The ruling order won’t yield without force. While outright violent revolution is impractical, controlled disruption is necessary. Consider:

Targeted Economic Collapses. Boycotts, worker strikes, and investigative journalism.

Overload. Civil disobedience and tax resistance on a massive scale.

Triggering Elite Infighting. The ruling class is factionalized too. Those in power can be made to turn on each other.

None of those ideas are pipe dreams. They require deep reflection, sustained effort, and selfless sacrifice from all sectors. Our struggle is a moral imperative requiring courageous collective action and performance excellence. The question is whether Filipinos are willing to take the leap to think, act like revolutionaries, and rally behind worthy leaders.

History shows that even the most entrenched systems can be dismantled when ordinary people unite behind a shared vision for good governance, justice, and freedom. The system will not fix itself. It must be bypassed, undermined, and ultimately, transformed. Only then can the Philippines be truly free.

 

Rafael “Raffy” M. Alunan III is a former secretary of Tourism and secretary of the Interior and Local Government; a member of the Management Association of the Philippines or MAP, the Harvard Kennedy School Alumni Association of the Philippines, the Philippine Council for Foreign Relations, and Rotary Club of Manila.

map@map.org.ph

malunan@gmail.com

Ionics to close manufacturing operations of subsidiary Iomni Precision

IOMNI.COM.PH

LISTED electronics manufacturer Ionics, Inc. said its subsidiary Iomni Precision, Inc. will cease production on May 15 to improve the company’s financial performance.

The decision was confirmed during a board meeting last week, Ionics said in a regulatory filing on Monday.

“After a lengthy review of the conditions affecting the plastic molding business, the management of Iomni recommended and its board of directors approved the cessation of its manufacturing operations, effective May 15, 2025,” Ionics said.

“The cessation of manufacturing operations is not expected to have any significant impact on the financials of the group and, moving forward, will improve its overall financial performance,” it added.

Iomni is engaged in the production and assembly of precision injection-molded plastic products. The company is located in the Light Industry & Science Park II in Calamba City, Laguna.

For the first nine months of 2024, Iomni posted a $0.4-million net loss, a reversal of the $0.01-million net income recorded in the prior year. Revenue fell by 46% to $1.51 million due to lower customer orders.

Iomni’s weaker performance dragged Ionics’ overall financials.

For January to September last year, Ionics’ attributable net income dropped by 30.5% to $2.85 million. Revenue rose by 7% to $78.35 million on higher sales from turnkey customers.

Gross profit declined by 17% to $8.17 million due to weak market demand for products under the consignment business model.

Ionics provides solutions for the telecommunications, automotive, computer, consumer, industrial, plastics, and medical sectors.

On Monday, Ionics shares rose by 20.25% or 16 centavos to 95 centavos each. — Revin Mikhael D. Ochave

Ted Lasso coming back for new season with Jason Sudeikis

LOS ANGELES — The Emmy-winning comedy series Ted Lasso is returning to the pitch for a fourth season, streaming service Apple TV+ announced on Friday.

Co-creator Jason Sudeikis will reprise his role as Lasso, the American coach of upstart British football team AFC Richmond in the feel-good, fish-out of water story.

“We all continue to live in a world where so many factors have conditioned us to ‘look before we leap,’” Mr. Sudeikis said in a statement. “In season four, the folks at AFC Richmond learn to leap before they look, discovering that wherever they land, it’s exactly where they’re meant to be.”

Ted Lasso won 13 Emmys including two for best comedy series during its three seasons from 2020 to 2023. Its future had been in doubt as the creators had said they originally planned for only three installments. — Reuters

Infrastructure delays may disrupt developers’ plans beyond Metro Manila, say analysts

PHILIPPINE STAR/MICHAEL VARCAS

By Beatriz Marie D. Cruz, Reporter

FURTHER delays in mass transport projects may complicate property developers’ expansion plans outside the National Capital Region (NCR), as improved connectivity is a key factor in unlocking new growth areas, analysts said.

“One way to temper the lackluster demand in Metro Manila is to be more aggressive in expanding outside the capital region; developers are also hinging their expansion on these infrastructure projects,” Joey Roi H. Bondoc, director and head of research at Colliers Philippines, said by telephone.

“These delays will likely stall the development strategies of developers outside Metro Manila,” he added.

Among the causes of delays in major mass transport projects are right-of-way (RoW) issues, budget constraints, and procurement and technical challenges.

“Infrastructure project delays may affect the credibility of the National Government in delivering economy-enhancing projects, which, in turn, could indirectly negate investor appetite for the Philippines,” Havitas Properties President and Chief Executive Officer Jonathan F. Caro said in an e-mail.

For instance, delays in the North–South Commuter Railway (NSCR) could affect key developments outside Metro Manila.

The Department of Transportation recently established a Flagship Project Management Office to accelerate the implementation of key mass transportation projects, including addressing RoW challenges.

Big-ticket projects under its monitoring include the NSCR, the Metro Manila Subway Project, the EDSA Busway Project, the EDSA Greenways Project, the Cebu Bus Rapid Transit, and the Davao Public Transport Modernization Project.

Both investor and buyer confidence rely on the timely delivery of public infrastructure projects, said Spike Alphonsus Ching, project director at PH1 World Developers.

“Delays or unmet expectations could erode confidence, particularly for developments meant to benefit from these projects. However, once these projects are completed, we expect a positive impact on the market, as enhanced connectivity unlocks new growth opportunities for both investors and property owners,” he said in an e-mail.

Delays in mass transport projects could also affect the development of luxury properties, which are primarily located outside the capital region.

“You can’t live there if you can’t get there,” Bill Barnett, executive director of Thailand-based hospitality consulting group C9 Hotelworks, said in an e-mail.

Mr. Barnett added that mass transportation infrastructure is necessary to further develop metropolitan areas in the countryside.

“For luxury real estate like branded residences, there is strong opportunity outside traditional areas like Makati, BGC (Bonifacio Global City), and the Bay Area, but the catalyst for change has to be a large-scale commitment to mass transport,” he also said.

Tech giants, stop trying to build godlike AI

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WE have ChatGPT because Sam Altman wanted to build a god.

For all the buzz, the chatbot is only a prototype along the way to a loftier goal of AGI, or “artificial general intelligence” that surpasses the cognitive abilities of humans. When Altman co-founded OpenAI in 2015, he made it the non-profit’s goal. Five years earlier, Demis Hassabis co-founded DeepMind Technologies Ltd., now Google’s core AI division, with the same AGI objective. Their reasons were utopian: AGI would create financial abundance and be “broadly beneficial” to humanity, according to Altman. It would cure cancer and solve climate change, according to Hassabis.

There are problems with these noble goals. First, the financial incentives of large tech firms are likely to skew AGI efforts towards benefiting their coffers first and foremost. Those early altruistic objectives of Altman and Hassabis have fallen by the wayside in the last few years as the generative AI boom has sparked a race to “win,” whatever that means. In the last few years, DeepMind’s website has removed content on health research or discovering new forms of energy creation to become more product-focused, spotlighting Google’s flagship AI platform Gemini. Altman still talks about benefiting humanity, but he’s no longer a non-profit “free from financial obligations” per his 2015 founding statement, and more of a product arm of Microsoft Corp., which has since sunk roughly $13 billion into his company. 

The other issue is that even the people who are building AGI are fumbling in the dark, despite how sure they are of their timeline predictions. Anthropic CEO Dario Amodei has said we’ll have AGI by 2027. Altman has said it’s “a few thousand days” away and we’ll have the first AI agents joining the workforce this year. Billionaire Masayoshi Son thinks we’ll have it in two or three years. Ezra Klein, a New York Times podcaster who regularly has AI leaders on his show, recently wrote, “It’s really about to happen. We’re about to get to artificial general intelligence.”

But ask the tech leaders what AGI actually means and you’ll get a smorgasbord of answers. Hassabis describes it as software that can perform “at human level.” Altman says it will “outperform humans.” Both, alongside Amodei, often take greater pains to talk about the complexity and challenges of defining AGI. Altman has also called it a “weakly defined term.” And Microsoft Chief Executive Officer Satya Nadella has even derided the AGI effort as “nonsensical benchmark hacking.”

I get little comfort from seeing AI’s top leaders trash talking or dancing around the definition of their North Star, while simultaneously racing toward it. Not just because computer-science experts, along with Elon Musk, worry that the advent of AGI will also come with rather high stakes, existential risks to human civilization. But because tilting at a vaguely defined goal opens the door to unintended consequences.

A more worthwhile aspiration would be narrower and more concrete, such as building AI systems that reduce medical diagnostic errors by 30%. Or in education, improving math proficiency in students by 15%. Or systems that could enhance energy grids to reduce carbon emissions by 20%. Such goals not only have clear metrics for success but serve concrete human needs, just as AI builders like Altman and Hassabis originally envisioned.

There is no evidence that when a company like Google or Microsoft (or China’s DeepSeek) claim to have finally built AGI, they will have the key to curing cancer, solving climate change, or increasing the wealth of everyone on earth by “trillions” of dollars, per Altman. So intense has the arms race become that it seems more likely they will instead position themselves as having a competitive advantage in the market, raise prices, and lock down information sharing. There will be questions about geopolitical ramifications. When he founded OpenAI, Altman said that if his team ever noticed another research lab was getting closer to AGI, they would down tools and collaborate. That looks like a pipe dream today.

Last month a large group of academic and corporate AI researchers published a paper that called on tech firms to stop making AGI the be-all and end-all of AI research. They argued that not only was the term too vague to measure properly, creating a recipe for bad science, it left key people out of the conversation — namely, all those whose lives would be changed. Technologists in 2025 have far more societal power than they did at the turn of the millennium, able to reshape culture and individual habits with the social media products they’ve deployed, and now large swathes of jobs too with AI, with few checks and balances.

The researchers, including Google’s former AI ethics lead Margaret Mitchell, suggest not only that tech firms include more voices from different communities and fields of expertise in their AI work, but that they drop the vague shtick about AGI, which one scientist memorably defined for me as “the rapture for nerds.”

The obsession with “bigger is better” has gone on long enough in Silicon Valley, as has the jostling between people like Musk and Altman to have the biggest AI model or the biggest cluster of Nvidia Corp.’s AI chips. J. Robert Oppenheimer had much regret for his role as the father of the atomic bomb, and now epitomizes the notion that “just because you can, doesn’t mean you should.”

Rather than look back in hindsight with remorse, tech leaders would do well to avoid the same trap of gunning for glory and trying to build gods, especially when the benefits are far from certain.

BLOOMBERG OPINION

ALI, PNB partner to simplify real estate financing for overseas buyers

(L-R) Shiela Marie B. San Buenaventura, RBG Chief Finance Officer, Ayala Land, Inc. (ALI); Rufino Hermann S. Gutierrez, Senior Marketing Director, AyalaLand International Sales, Inc. (ALISI); Augusto D. Bengzon, Chief Finance Officer & Treasurer, ALI; Mariana Flores, Caculitan, First Senior Vice President, Philippine National Bank (PNB); Celeste V. Lim, First Senior Vice President, PNB; Allan L. Ang, First Senior Vice President, PNB

REAL ESTATE developer Ayala Land, Inc. (ALI) has partnered with the Philippine National Bank (PNB) to streamline property purchases in the Philippines for foreign clients.

“We highly value our partnership with Philippine National Bank (PNB) as it strengthens our commitment to providing a seamless and efficient buying experience for our clients abroad,” Rufino Gutierrez, senior managing director of Ayala Land International Sales, Inc., said in a statement on Monday.

“Through this collaboration, we are making it easier for Filipinos and foreign investors to acquire properties in the Philippines by offering accessible financing and secure remittance solutions.”

The enhanced PNB Own a Philippine Home Loan program allows buyers in the United States to apply for a real estate loan evaluated based on their FICO Score, with no age limit on loan applications.

This offers greater flexibility and accessibility in securing home financing, ALI said.

Buyers can use the Autopay Remittance Solution via ACH by enrolling their US-based bank account, ensuring timely and hassle-free payments.

Ayala Land buyers in Singapore can avail of a US dollar-denominated loan, while those in Japan can secure financing in Japanese yen.

“This provides a practical option for international clients seeking a stable and convenient financing solution.”

Filipino buyers are also not required to appoint an attorney-in-fact when applying for a loan through PNB branches in Los Angeles, New York, Guam, Singapore, and Japan.

“We understand the challenges that come with buying property from abroad and, through this partnership, we are making the process easier, more accessible, and worry-free,” PNB President Florido Casuela said.

“With PNB’s specialized home loan solutions and global presence, we are committed to supporting Filipinos and investors every step of the way in securing their future in the Philippines.” — Beatriz Marie D. Cruz