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StanChart CEO Lynette Ortiz wins UN Women 2021 Philippine WEPs Awards for Leadership Commitment

Standard Chartered Bank Chief Executive Officer Lynette Ortiz was named UN Women 2021 Philippine Women’s Empowerment Principles (WEPs) Awards Champion in the Leadership Commitment category recently. This category recognizes leaders in corporations who have been instrumental in setting strong corporate commitments inclusive of progressive polices, regulations or practices that aim to promote gender equality in the workplace, marketplace and community. This includes taking specific roles and responsibilities in promoting gender equality within the company and making public commitments or delivering gender-sensitive messages to the public. Ortiz accepted the award at the virtual UN 2021 WEPs Awards Philippines Ceremony last Oct. 15.

Ortiz is a strong advocate for diversity and inclusion with gender equality and women empowerment as her personal advocacies. In the past, she led the local staging of Vagina Monologues to celebrate International Women’s Day to benefit One Billion Rising with some parts played by international theater actress and women’s rights activist Monique Wilson and has spoken in conferences and symposia on these topics.

She is also actively involved in various career coaching sessions for college students and young professionals with Filipina CEO Circle, and a mentor in the bank’s global Speed Mentoring Programme for female colleagues. She was recently appointed as Vice-Chairperson of the Diversity and Inclusion Committee of the Management Association of the Philippines.

Ortiz highlights StanChart’s commitment to promote equality and create an inclusive and flexible culture in the workplace where people can realize their full potential. She said, “The bank believes in equal opportunities for all. Being an inclusive employer and business is fundamental to our strategy and our purpose to drive commerce and prosperity though our unique diversity. Representation and inclusion of our diverse talent is key to our long-term success as a bank. This helps us understand and serve our customers better across our wide footprint globally. It allows us a broader range of ideas, views and solutions.”

She also underscores the importance of empowering women in the workplace. “StanChart’s culture and work environment create a fertile StanChart CEO Lynette Ortiz wins UN Women 2021 Philippine WEPs Awards for Leadership Commitment ground to promote women’s empowerment. It is important to support and inspire each other and add a collective voice to the conversation. We must actively challenge stereotypes, offer support to female colleagues, and openly celebrate role models in order to drive a more inclusive environment.”

The oldest international bank in the Philippines, StanChart continues to embed diversity and inclusion into its organizational DNA and reaffirm its commitment to gender equality. The bank ranked among the top 100 companies in Equileap’s 2021 Gender Equality Global Report and Ranking, and recognized on Bloomberg Gender Equality Index 2019 for the fourth year in a row. Financial Times also recognized StanChart as a diversity leader and signed a statement of support to the UN Women’s Empowerment Principles in 2018.

The WEPs Awards honor Asia-Pacific private businesses that champion gender equality in the workplace, marketplace and community in alignment with the WEPs. Established by UN Women and UN Global Compact, the WEPs are a set of 7 principles guiding businesses to become more gender responsive across their value chain.

 

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P131-B loss seen if fuel tax suspended

PHILIPPINE STAR/ MICHAEL VARCAS
Local pump prices have gone up for the eighth straight week as oil firms on Monday raised gasoline prices by P1.8 per liter (/L), and increased diesel and kerosene prices by P1.5/L and P1.3/L, respectively. — PHILIPPINE STAR/ MICHAEL VARCAS

THE SUSPENSION of excise taxes on petroleum would result in as much as P131.4 billion in revenue losses for 2022, potentially hampering the country’s budget for recovery, the Department of Finance (DoF) said.

In an Oct. 20 memorandum to Finance Secretary Carlos G. Dominguez III, Finance Undersecretary Antonette C. Tionko recommended that the suspension of excise taxes on fuel products should be “appropriately studied” amid substantial foregone revenues that “may affect the government’s budget for COVID-19 (coronavirus disease  2019) recovery measures.”

The memorandum from the DoF’s Revenue Operations Group was made in response to Energy Secretary Alfonso G. Cusi’s proposal to suspend excise taxes on petroleum products as pump prices continue to rise.

The suspension, Mr. Cusi earlier said, might reduce pump prices by P8 to P10 per liter.

Ms. Tionko said foregone revenue from the Bureau of Customs could reach a total of P24.7 billion next year if the excise tax is suspended. Incremental excise tax revenues under the Tax Reform for Acceleration and Inclusion (TRAIN) law would account for P106.7 billion.

Republic Act No. 10963 or TRAIN law raised excise tax on fuel in three tranches from 2018-2020.

Excise tax now stands at P10 per liter for gasoline, P6 per liter for diesel, and P5 per liter for kerosene.

Oil prices went up on Wednesday after as US fuel stocks fell amid rising demand, Reuters reported. Brent crude futures went up 0.9% or 74 cents to $85.82 per barrel, the highest since Oct. 2018.

Local pump prices have gone up for the eighth straight week as oil firms on Monday raised gasoline prices by P1.8 per liter (/L), and increased diesel and kerosene prices by P1.5/L and P1.3/L, respectively.

The DoF’s Ms. Tionko also confirmed that the Energy department could only suspend excise taxes through new legislation amending the oil deregulation law.

A safety net provision in the TRAIN law allowing for excise tax suspension as a means to guard against fuel price shocks only refers to the tax increases under the law, which took place in 2018, 2019 and 2020, she added.

Meanwhile, presidential candidates weighed in on the proposed suspension of excise taxes on fuel products.

Labor leader Leodegario “Ka Leody” de Guzman said that suspending excise tax will not affect fuel prices much and instead urged for the regulation of the oil industry and local adoption of renewable energy and electric vehicles.

“Even without the excise tax, local oil prices will still be high because of monopoly pricing in a deregulated industry,” Mr. De Guzman, the presidential candidate of Partido Lakas ng Masa (PLM), said in a text message.

The oil industry was deregulated through Republic Act 8479 or the Downstream Oil Industry Deregulation Act of 1998 in a bid to stabilize and provide reasonable oil prices and encourage competition and investment in firms, among others.

Senator Panfilo M. Lacson and former Senator Ferdinand “Bongbong” R. Marcos, Jr. both expressed support for the proposed halt on the collection of excise taxes on fuel products.

Mr. Marcos also called on the DoE to consider the restoration of the defunct Oil Price Stabilization Fund that was set up by his father and the late dictator Ferdinand Emmanuel E. Marcos, Sr. in 1984 to protect the economy from prolonged increase in global oil prices.

Meanwhile, Manila Mayor Francisco “Isko Moreno” Domagoso said he would seek a 50% reduction in taxes on oil, if elected President.

“If given a chance… the first thing I would do is to lower the tax on oil by 50%,” he said in a meeting with farmers in Tarlac.   

The standard bearer of Aksyon Demokratiko said that his proposal would help lower the price of electricity. — Jenina P. Ibañez and Russell Louis C. Ku

BSP to focus on keeping policy support for economy

Benjamin E. Diokno, Bangko Sentral ng Pilipinas Governor — BLOOMBERG

THE CENTRAL BANK will focus on maintaining policy support to help drive economic recovery, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said, adding the Philippines is well-placed to weather the impact of monetary policy tightening in other countries.

“Many central banks in advanced and emerging economies have started reassessing their respective monetary policy settings in view of surging prices owing to strong demand and persistent supply constraints,” Mr. Diokno said at an online briefing on Thursday.

“The BSP, however, is confident that the Philippines is well-placed to recover with a possible tightening of global financial conditions,” he added.

Mr. Diokno said the BSP can tap policy tools for such incidents, including a timely participation in the foreign exchange market to help tame volatility. Measures that target specific imbalances and prevent the buildup of risks in the financial system may also be tapped, he added.

The country will also be shielded by its ample dollar reserves and external payment position that is supported by remittances, business process outsourcing earnings, and expected recovery in export revenues, Mr. Diokno said.

Earlier this week, he said it appears that record low policy rates will be maintained “between now and the end of the year.”

“Inflationary pressures may continue to emanate from rising international commodity prices, the potential effects of recent weather disturbances, and a possible prolonged recovery from the African Swine Fever outbreak,” Mr. Diokno said.

The BSP chief said he believes inflation is still transitory, noting inflation will return to within target in 2022 and 2023.

Headline inflation in September eased to 4.8% from 4.9% in August, but still above the 2-4% BSP target. Inflation is expected to average 4.4% this year.

Global oil prices have surged in recent weeks, pushing local pump prices higher for an 8th straight week.

BSP Deputy Governor Francisco G. Dakila, Jr. attributed the higher oil prices to weather disruptions and the decision of major oil exporting countries to keep production levels unchanged despite a rise in global demand.

“Having more targeted intervention would be actually more effective. Assistance can be directed to the most vulnerable sectors of the economy, including on public transport,” he said.

While demand conditions continue to recover, BSP Department of Economic Research Senior Director Zeno R. Abenoja said the economic rebound “remains fragile.”

“Against this backdrop, continued monetary policy support remains crucial in supporting private demand and encouraging banks to lend and thereby allow the economic recovery to gain more traction,” Mr. Diokno said.

“Further traction from non-monetary government interventions to directly address supply-side inflation pressure also provide flexibility to monetary authorities in preserving policy support for the economy,” he added.

The Monetary Board has two more policy reviews scheduled this year on Nov. 18 and Dec. 16. — L.W.T.Noble

Office market showing signs of rebound

PHILIPPINE STAR/ MICHAEL VARCAS

By Keren Concepcion G. Valmonte, Reporter

THE OFFICE leasing market is beginning to show signs of recovery from the coronavirus pandemic as terminations begin to “meaningfully slow down” in the third quarter, Leechiu Property Consultants (LPC) said on Thursday.

Office space demand is expected to reach 450,000-500,000 square meters (sq.m.) by yearend, led by the Information Technology and Business Process Management (IT-BPM) sector, LPC executives said.

However, this is still way below the pre-pandemic demand of 1.75 million sq.m. in 2019.

“One of the better news we’ve received this quarter is that the office leasing contractions or terminations are down by 69%, the lowest it has been throughout the last 18 months,” Mikail C. Barranda, director for commercial leasing at LPC, said at an online briefing on Thursday.

In the third quarter, office leasing terminations declined to 42,000 sq.m. from the second quarter.

Office take-up in the first nine months reached 383,000 sq.m., which is already 98% of the full-year demand in 2020.

“While the recovery has not been as fast as earlier predicted, the worst appears to be behind us,” LPC President and Chief Executive Officer David T. Leechiu said.

However, third-quarter office demand slowed quarter on quarter due to the spike in coronavirus disease 2019 (COVID-19) infections and strict lockdown in Metro Manila, LPC said.

“But this has been offset by 228,000 sq.m. of active office leasing requirements seeking to be completed within the next six months,” it said, noting about 70,000 to 100,000 sq.m. may be finalized in the remaining months of 2021.

The IT-BPM industry accounts for 129,000 sq.m. or 57% of the total live leasing requirements in the next six months, LPC said.

Philippine Offshore Gaming Operators (POGOs) made up for 5% of the inquiries received by LPC.

“Hopefully, with the passage of the new POGO law or the Republic Act 11590, as far as we know, it has been well-received by the operators, it rationalizes the tax and as the airways start to open up, we may see them starting to operate again in their existing offices and hopefully take space again by next year,” Mr. Barranda said.

The law will subject offshore gaming firms to a 5% tax on gross gaming revenues. The Finance department said it is projecting tax collections from POGOs to reach up to P76.2 billion from 2022 to 2023. 

ILOILO SURPRISES
Around 75% or 289,000 sq.m. of the year-to-date office transactions were recorded in Metro Manila. It already surpassed the 266,000 sq.m. office transactions in Metro Manila in 2020.

Meanwhile, 25% or 94,000 sq.m. were logged from provincial areas, which represent nearly three-fourths of the transactions in 2020.

“Iloilo continues to surprise. Iloilo picked up 40%, almost 40% of total office demand in the provinces outside of Manila and that has been sustained for about two and a half years,” Mr. Leechiu said.   

Iloilo accounted for 39% or 37,000 sq.m. of office transactions in the provincial areas, followed by Clark, Pampanga (14% or 13,000 sq.m.), Laguna (12% or 11,000 sq.m.), Davao (10% or 9,000 sq.m.), Cebu (8% or 8,000 sq.m.).

“Iloilo now has become a template for many of the provinces. For one, it has quality real estate availability coming from one of the largest developers, Megaworld [Corp.], which has converted the old airport into a mixed-use township development, 24/7 retail, office, hotel, basically all the support systems needed,” Mr. Barranda said.

The LPC report also pointed out that BPO (business process outsourcing) companies are looking “for new geographies to penetrate.” It identified Laoag in Ilocos Norte, Tuguegarao City in Cagayan, and Bohol as cities that may be attractive to BPO firms.

The real estate consultancy firm is anticipating demand to “drastically increase” in the fourth quarter as borders reopen for international travelers.

Long Philippine bonds likely out of favor on inflation fears

BW FILE PHOTO

MOST SOUTHEAST ASIAN yield curves have flattened in recent months in tandem with a similar move in US Treasuries. The Philippines is an outlier.

The spread between five-year and 10-year peso bond yields is near the widest in over a year, with long-dated securities hit by fears about rising supply as the Philippines’ fiscal deficit widens. There’s little indication the gap will shrink as central bank policy anchors the short end of the curve while elevated inflation weighs on longer maturities.

The steeper curve could mean higher funding costs as the deficit widens to a record 9.3% of gross domestic product this year, although National Treasurer Rosalia V. de Leon expects the rise in yields to be temporary. Coming at a time when yield curves in Thailand and Malaysia are flattening, the steepening risks making longer-dated peso securities the region’s laggards.

“Relative to regional bonds, the outsized selloff in Philippine bonds is primarily due to a greater extent of widening in the inflation risk premium,” said Duncan Tan, a strategist at DBS Bank Ltd. in Singapore. “As long as energy prices stay supported, we expect Philippine bonds to underperform and the yield curve to steepen relative to regional curves.”

The spread between five-year and 10-year Philippine bonds stands at 117 basis points (bps). It reached 132 bps in late September, the widest in over a year.

In contrast, the Malaysian and Thai yield curves have narrowed by 21 bps and 17 bps, respectively, since early June as they mirrored a similar move in Treasuries.

This indicates the Philippine yield curve is unlikely to track a further flattening in its US counterpart, which may result in long-dated peso notes underperforming their regional peers. Swap traders expect the spread on 5- and 10-year Treasuries to narrow to 33 bps from 49 bps in a year’s time.

The Philippine curve may also steepen further as elevated price pressures drive up longer-dated yields while shorter maturities are anchored by the central bank’s pledge to hold off on interest rate hikes. Bangko Sentral ng Pilipinas has raised its 2021 average inflation target to 4.5% from 4.4%, above its target range of 2% to 4%, citing supply-side pressures.

Long-dated peso bonds will probably face further pressure from a heavy pipeline next year. While the budget deficit is expected to ease to 7.5% of GDP in 2022, the shortfall will still be wider than the pre-pandemic five-year average of 2.4%. With BSP signaling that it’ll continue to slow purchases of government debt for the rest of the year, there appears to be little respite in store. — Bloomberg

Fewer banks tightened lending standards in Q3

LENDERS generally kept strict lending standards in the third quarter, but fewer banks tightened their lending rules, based on a survey conducted by the Bangko Sentral ng Pilipinas (BSP).

The latest Senior Bank Loan Officers’ Survey (SLOS) released on Thursday showed a majority of banks kept their overall standards for loans to both enterprises and households based on the modal approach.

Based on the diffusion index, the study showed a net tightening of credit standards imposed for both businesses and retail borrowers in the July to September period.

“However, we also know note that a fewer number of banks reported tightened lending standards in the third quarter compared to the second quarter,” Lara Romina E. Ganapin, Bank Officer VI at the BSP’s Monetary Policy Research Group, said at an online briefing.

“There has also been a modest recovery in overall lending attitudes since the pandemic,” she added.

Credit standards that were particularly tightened for businesses include reduced credit line sizes; stricter collateral requirements and loan covenants; and increased use of interest rate floors.

On the other hand, banks reported some form of easing by extending longer loan maturities to firms.

Meanwhile, lending standards for households were tightened through lower credit line sizes, stricter loan agreements and collateral requirements. Banks eased credit standards for households by narrowing loan margins and lengthening loan maturities.

For the last three months of the year, the diffusion index approach showed lenders are expecting to implement stricter loan standards for businesses as they expect economic uncertainty to continue and a deterioration of borrowers’ profiles and in the liquidity of banks’ portfolio.

Meanwhile, bank respondents expect to relax lending standards for households on the back of better borrowers’ profiles and positive economic prospects.

“They [banks] expected strong growth in remittances, particularly during the Christmas holidays that provided support to the outlook for lending to households,” Ms. Ganapin said.

Loan demand is seen growing in the fourth quarter, based on the diffusion index approach.

Increased borrowings from businesses will be likely due to corporate clients’ higher inventory financing requirements and accounts receivable financing needs, as well as improvement in customers’ economic outlook, the survey showed.

Meanwhile, loan demand from the retail borrowers is expected to be driven by higher consumption, lower income prospects, and more attractive financing terms offered by banks.

Bank lending in August rose 1.3%, ending eight straight months of decline.

For the third quarter SLOS round, the BSP sent questions to 64 banks, 51 of whom responded. This represents a response rate of 79.7%. — Luz Wendy T. Noble

Medilines’ P2-B public offer gets PSE approval

MEDILINES Distributors, Inc. has received the go signal from the Philippine Stock Exchange (PSE) for its P2-billion initial public offering (IPO) slated for next month.

“The exchange approved the application of [Medilines Distributors] for the initial listing of up to 2,750,000,800 common shares, with a par value of [25 centavos] per share, under the main board of the exchange, which includes the shares subject of the company’s [IPO],” the PSE said in a listing notice on Wednesday evening.

Medilines Distributors was founded in 2002 and is involved in the business of distributing medical devices from brands such as Siemens, B. Braun, and Varian. The company has a product portfolio that feature devices for diagnostics imaging, dialysis, as well as cancer therapy.

“The healthcare industry has been in the spotlight since this pandemic broke out,” PSE President and Chief Executive Officer Ramon S. Monzon said in an e-mailed statement.

“We are pleased to see a company in this space tap the stock market for capital raising. We are hopeful that this IPO will pave the way for other companies in this sector to seek funding from the equities market,” he added.

The company is looking to offer to the public as much as 825 million common shares for up to P2.45 per share. It has scheduled its price-setting on Nov. 16.

Medilines Distributors will be offering up to 550 million common shares as the primary offer. Meanwhile, company chairman Virgilio B. Villar will be offering up to 275 million common shares by way of secondary offer.

“We intend to use the net proceeds from the sale of primary shares to fund the working capital in relation to the procurement of existing products and the buildup of medical consumables inventory and debt repayment,” the company said in its prospectus dated Oct. 8.

Majority or P743.1 million of the proceeds from the sale of primary shares will be used to repay debt, while P541.5 million will be allotted for working capital for the procurement of products as well as fund its foray into the medical consumables segment.

The company said it will not be receiving proceeds from the secondary offering of Mr. Villar’s shares.

“The exchange’s approval of the conduct of the IPO and listing of the company’s shares is subject to its compliance with all of the post-approval conditions and requirements of the exchange,” the PSE said.

Medilines Distributors aims to conduct the offer from Nov. 22 to 26, while its listing date was tentatively set to Dec. 7. It will be listed under the stock symbol “MEDIC.”

The company assigned PNB Capital and Investment Corp. as the offer’s sole issue manager, lead underwriter, and sole bookrunner. — Keren Concepcion G. Valmonte

Seaoil aims to expand to 1,000 fuel stations by 2023

SEAOIL FB PAGE

SEAOIL Philippines, Inc. said on Thursday that it targets to put up its 1,000th fuel station in two years’ time.

“Seaoil aims to open 1,000 stations by 2023 and further improve its growing lubricants market share,” the firm said in an e-mailed statement on Thursday.

The independent fuel company recently opened its 600th station in Brgy. Sepung Calzada, Tarlac City.

Seaoil separately told BusinessWorld that it typically costs up to P5 million to open a new station, but added that it does not have the final budget yet on its capital expenditures for the year 2023.

According to the firm, retail and terminal expansion has remained “on-track” despite the onset of the global health emergency.

Seaoil also said it partnered with fintech company LOCQ, OPC to develop “PriceLOCQ for Business,” an app which allows companies to lock in fuel prices when they are low, store fuel in virtual tanks, and refuel at participating stations at their preferred time.

“PriceLOCQ for Business is the only solution that allows businessmen to hedge against fuel prices — that is to lock in fuel prices when they are low and redeem at Seaoil when prices go up,” Seaoil Chief Executive Officer Glenn L. Yu said in a statement.

Individuals can also use the PriceLOCQ app on their mobile devices.

In the first half of 2021, Seaoil’s share in the domestic petroleum market stood at 5.49%, up from 5.14% in the same period last year, based on estimates from the Department of Energy. — Angelica Y. Yang

Maynilad moves planned water interruptions to Oct. 29-Nov. 1

WEST ZONE water concessionaire Maynilad Water Services, Inc. moved the scheduled water interruptions in parts of its service area to Oct. 29 (11 a.m.) until Nov. 1 (11:59 p.m.) to give customers more time to prepare.

The water provider said in a statement that the water interruptions originally planned on Oct. 25 to Oct. 28 was moved after a huge number of customers requested for additional time to get ready.

Maynilad previously announced that the water interruptions will be caused by a pipe realignment activity along Sobriedad St. corner Cristobal St. in Sampaloc, Manila to give way for a flood control project of the Department of Public Works and Highways (DPWH).

“The new schedule coincides with the break for Undas (All Saints’ and All Souls’ Day) when people typically go to the provinces and fewer customers are expected to be home, thus mitigating the impact of the service interruptions on consumers,” Maynilad said.

Further, Maynilad said the areas set to be affected by the water interruption and their corresponding interruption schedules are the same.

Areas that will experience water interruptions include parts of Las Piñas, Makati, Manila, Parañaque, Pasay, as well as parts of Cavite province such as Bacoor, Cavite City, Imus City, Kawit, Noveleta, and Rosario.

The water provider previously disclosed that 28% or 421,000 water service connections, equivalent to 2.9 million customers, will be affected by the interruption.

“Given the deferment, Maynilad will also use the extra time to further increase our available complement of mobile water tankers and stationary water tanks, with the assistance of local government units and the local fire bureaus,” it said.

Patrick Lester N. Ty, chief regulator of the Metropolitan Waterworks and Sewerage System (MWSS) Regulatory Office, urged customers in a separate statement to report deviations from the schedules of the announced service interruptions.

“The MWSS-Regulatory Office advises the public to observe social distancing at the tankering sites to prevent the spread of the coronavirus disease 2019 (COVID-19) virus,” Mr. Ty said.

Metro Pacific Investments Corp., which has a majority stake in Maynilad, is one of three Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT, Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Revin Mikhael D. Ochave

Celebrities’ hometowns the focus of new travel show

TOURIST spots in Pangasinan, Zambales, and Zamboanga are highlighted in AXN Asia’s new travel and lifestyle show My Hometown is G.O.A.T.

Celebrities assume the role of hosts and adventurers as they explore their hometowns and show the audience what makes these destinations the “Greatest of All Time” (G.O.A.T.).

The six-episode travel and lifestyle series will premiere regionally in Southeast Asia on Nov. 4, with new episodes airing on AXN Asia every Thursday and Friday at 8:30 p.m., and on the AXN Asia YouTube channel every following Wednesday at 8:30 p.m.

During an online press conference on Oct. 14, George Chien, co-founder, president and CEO of KC Global Media Asia, said, “Not only will viewers be able to discover the delicacies, the activities, the attractions that made the place great; they will also be able to uncover a more personal side of the celebrity hosts, as they share their stories about their childhood.

Actress and beauty queen Megan Young and actor, news anchor Mikael Daez head to Ms. Young’s hometown in Zambales, then visit neighboring Pampanga and Tarlac for a taste of their delicacies and history.

Miss Universe Philippines 2019 Gazini Ganados flies to Zamboanga for a solo trip around the city. Basketball star Marc Pingris, along with his Philippine Bikers Amazing “PBA” Moto Club crew, takes the long road on his motorbike up to scenic spots of La Union, passing by his hometown of Pangasinan on the way.

Each 15-minute episode of My Hometown is G.O.A.T. will see the celebrity hosts tell stories about their childhood. In addition, they will also be show viewers how to be safe when traveling in the new normal.

“With this show, we hope on one hand, to bring joy in homes of audiences who are unable to travel just yet. On the other hand, we also like to reach our many Filipino fans across Asia, who have been longing for home,” Mr. Chien said.

My Hometown Is G.O.A.T. premieres on Nov. 4 on AXN Asia. AXN Asia is available on SKYcable, Cignal, and G-Sat. — Michelle Anne P. Soliman

Globe’s Asticom enters engineering services space

BW FILE PHOTO

GLOBE Telecom, Inc. on Thursday said its wholly owned Asticom Technology, Inc., a shared services company, has launched a second subsidiary to help telecommunications companies speed up their fiber rollouts.

“Fiber Infrastructure and Network Services, Inc. (FINSI) is the latest addition to the Asticom Group,” Globe said in an e-mailed statement.

FINSI will provide end-to-end services and industry-specific solutions to telcos.

“We are on a mission to accelerate the Philippines into a connected nation, using innovative, leading-edge technologies and world-class local expertise,” FINSI General Manager Marc Kerveillant said.

Mharicar Castillo-Reyes, president and chief executive officer of Asticom Group, said her company aims to help the Philippines reach greater connectivity by being “the first-ever homegrown” engineering services provider supporting the major telcos.

In January, Asticom Technology launched its first subsidiary, Asti Business Services, Inc. (ABSI), to provide enterprises with end-to-end solutions for human resources, administrative, finance, and information technology functions.

ABSI aims to provide enterprise services to telecommunications, financial technology, information technology, retail, health, logistics, automotive, banking, education, real estate, and aviation companies. — Arjay L. Balinbin

Entertianment News (10/22/21)

Dune

Dune opens in PH cinemas Nov. 10

JUST as cinemas are getting ready to reopen as quarantine restrictions are being relaxed, Warner Bros. Philippines has announced that the epic adventure Dune will open exclusively in Philippine theaters on Wednesday, Nov. 10. As director Denis Villenueve (Blade Runner 2049, Arrival) has said: “Dune has been made, designed, dreamed to be seen on a big screen.” The Academy Award nominated filmmaker directs Warner Bros. Pictures and Legendary Pictures’ Dune, the big-screen adaptation of Frank Herbert’s bestseller, considered one of the most influential books of the 20th century. A mythic hero’s journey, Dune tells the story of Paul Atreides, a brilliant and gifted young man born into a great destiny beyond his understanding, who must travel to the most dangerous planet in the universe to ensure the future of his family and his people. Paul Atreides is played by Timothée Chalamet, and he is joined onscreen by Rebecca Ferguson, Oscar Isaac, Josh Brolin, Zendaya, Jason Momoa, Javier Bardem, and David Bautista. Dune is distributed in the Philippines by Warner Bros. Pictures, a WarnerMedia Company. The featurette Dune – Big Screen Experience can be viewed at https://youtu.be/wn9GLUzEyf4]

Viral Scandal kicks off in November

CHARLIE Dizon, Dimples Romana, Jake Cuenca, and Joshua Garcia star in ABS-CBN Entertainment’s latest series which explores the spread of controversial videos, Viral Scandal. It premieres on Nov. 15 at the Kapamilya Channel’s Primetime Bida. Ms. Dizon plays a teenager caught in a viral video. How she and her mom (played by Dimples Romana) deal with the scandal is the subject of the series. Directed by Dado Lumibao and Froy Allan Leonardo, the series also stars Joshua Garcia, Jameson Blake, Markus Patterson, Ria Atayde, Maxene Magalona, Aljon Mendoza, Karina Bautista, Louise Abuel, Kaila Estrada, Vance Larena, Gian Magdangal, Arielle Roces, and Aya Fernandez. The series will replace Huwag Kang Mangamba and will air on Kapamilya Channel, TV5, A2Z, Kapamilya Online Live, iWantTFC, and TFC IPTV.

Tom Morello releases new album

ROCK & Roll icon and two-time Grammy winner Tom Morello has released his new album, The Atlas Underground Fire, via Mom + Pop Musi. The 12-track album is a follow-up to his critically acclaimed and groundbreaking 2018 album, The Atlas Underground. Featuring collaborators including Bruce Springsteen, Eddie Vedder, Chris Stapleton, Mike Posner, Damian Marley and more, The Atlas Undergound Fire puts Mr. Morello’s guitar playing on full display, taking the instrument into the future and forging an alternative/rock/EDM masterpiece with all-time legends and cutting-edge firebrands. The genre-spanning tracklist includes Mr. Morello’s latest single, “The War Inside” featuring Chris Stapleton, which was released alongside a music video animated by Tom Crew. Mr. Morello premiered the track in an exclusive interview with Zane Lowe on Apple Music 1’s The Zane Lowe Show. Mr. Morello — co-founder of Rage Against The Machine, Audioslave and Prophets of Rage — is widely known as a barrier breaking guitarist who continues to push the limits and prove the transformative power of music. Of the album, Mr. Morello said: “Making this album was a life raft during a troubled time. Creating a global conspiracy of rock‘n’roll pen pals of incredible and diverse talents really kept me going and helped me push myself as an artist and guitarist. I recorded all my guitar parts in a cloistered isolation and it feels great now to unleash these tunes on the world and inflict the latest chapter of my bizarro guitar playing on an unsuspecting public.”

TALA releases new single   

THE 21-YEAR-OLD singer-songwriter TALA is releasing her new single, “nevermind,” a sincere and truthful response to her song, “i think I’m dreaming.” According to TALA, “It’s very vulnerable, as though one was reading a page of my journal or a letter.” “nevermind” is available on iTunes, Apple Music, Deezer, YouTube, and Spotify.

Tic Tac offers Mobile Legends upgrade

TIC TAC has collaborated with one of the top mobile games in the Philippines, Mobile Legends, for its “Refresh your Game” campaign. As part of this campaign, Tic Tac hosted a virtual Game Night on Oct. 8, hosted by ML gamer Sarah Carlos, with guests TV personality John Vic de Guzman, gaming influencer Yskaela Fujimoto, and celebrity Kristoffer Martin, sharing tips on how they approach the game. They also battled it out live with three audience members selected through an online contest before the event. Through the “Refresh your Game” campaign, up to 3,500 Mobile Legends gamers can win 50 ML Diamonds every week. The rewards will be sent as redeemable codes via email, and one ML account can win up to five codes each day. To join: gamers have to purchase Tic Tac and keep the official receipt; then visit the website www.TicTacWin.com to upload a scan of the receipt, which is the proof of purchase, and provide the requested details on the website. After submitting the information, the gamer will receive a link to verify their e-mail. As a bonus, Tic Tac will also be giving away 50 grand prizes every week — Limited Edition and Special Skins, Heroes, and 1,000 Diamonds (prizes worth up to P1,500 each. To qualify for this Bonus giveaway, gamers must use the hashtag #TicTacFresh and make a public Facebook post saying why they love Tic Tac. They can then follow the steps mentioned above, add a screenshot of the Facebook post and become part of the weekly Bonus contest. Bonus prize winners will be announced every Wednesday. This promo is valid until Nov. 28, and is only available for players based in the Philippines. For more information visit www.tictacwin.com or the Tic Tac Philippines Facebook page: www.facebook.com/tictacpilipinas.

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