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ACEN lists P10-B ASEAN green bonds  

ACEN Corp. announced on Thursday that it had successfully issued and listed its maiden peso-denominated ASEAN green bonds with a principal amount of P10 billion.

“We are grateful for the strong support of Philippine institutional and retail investors for the company’s maiden peso green bond issuance,” ACEN President and Chief Executive Officer Eric T. Francia said in a statement.

ACEN, the listed energy arm of the Ayala group, said the green bonds are the first tranche under its P30-billion debt securities program registered with the Securities and Exchange Commission. The bonds have a fixed interest rate of 6.05% annually for a five-year tenor maturing in 2027.

ACEN noted that the green bonds were eight times oversubscribed, signaling robust demand and strong participation from institutional investors.

ASEAN green bonds comply with the ASEAN green bonds standards and proceeds are used exclusively to finance or refinance eligible green projects.

Maria Corazon G. Dizon, ACEN’s chief financial officer and treasurer, said amid the “challenging macroeconomic environment, we are encouraged by the enthusiastic take-up of our bonds by the investing community.”

“Our group is one of the country’s largest issuers of green bonds, and we are happy to contribute to the development of our nation’s debt capital market with our maiden peso green bond issuance,” she added.

ACEN will use the proceeds to fund its various renewable projects in the Philippines.

These projects are the 283-megawatts of direct current (MWdc) San Marcelino Solar I farm in Zambales, 42-MWdc expansion of the 72-MWdc Arayat-Mexico solar farm in Pampanga, and the construction of the 133-MWdc solar farm in Lal-lo, Cagayan.

To date, ACEN and its majority shareholder AC Energy and Infrastructure Corp. have raised an aggregate of $1.6 billion through green bonds since 2019 to fund renewable energy projects.

On Thursday, shares in ACEN closed 2.64% lower at P6.28 apiece. — Ashley Erika O. Jose

V&A celebrates Korean Wave of popular culture with new exhibition

VAM.AC.UK/EXHIBITIONS/NETFLIX

LONDON —  From the bright pink guard costumes in hit Netflix series Squid Game to a large sculpture of rapper G-Dragon, London’s V&A museum is celebrating South Korean popular culture and its rise to global prominence in a new exhibition opening this week.

Among the items on display at Hallyu! The Korean Wave are K-Pop costumes, K-drama props as well as a replica of the bathroom set in Oscar-winning film Parasite.

“This exhibition is actually celebrating the vibrant and colorful popular culture from South Korea from its inception to its place on the global stage,” curator Rosalie Kim told Reuters at a preview on Wednesday.

“‘Hallyu’ actually means Korean wave and it refers to this meteoric rise of popular culture from South Korea that has taken the world by storm in the past few decades.”

The exhibition is split into different sections including K-pop and its fans, television drama and cinema, fashion and beauty.

Greeting visitors is the pink jacket singer Psy wore in the music video for his 2012 mega hit “Gangnam Style.” Other outfits on display include ensembles worn by G-Dragon and K-pop groups ATEEZ and Aespa as well as colorful designer creations.

From the world of television, there are costumes from historical dramas as well as the recognizable pink boiler suits and a green tracksuit from Squid Game.

The Parasite bathroom replica is the first time the set from the protagonist Kim family’s basement flat has been recreated, with the museum working closely with the film’s production designer Lee Ha-jun.

Other items on display include photographs, posters, record covers and K-pop fan banners. Visitors can also take part in an interactive K-pop dance challenge.

Hallyu! The Korean Wave opens on Saturday and runs until June 2023. — Reuters

SMC plans P80-B bonds; CLI downsizes issuance to P5B

SEPARATELY, the board of directors of listed conglomerate San Miguel Corp. (SMC) authorized a plan to issue bonds worth P80 billion in a board meeting on Thursday.

The bonds will be composed of P60-billion fixed-rate peso-denominated bonds with an oversubscription option of P20 billion.

According to SMC’s disclosure to the Philippine Stock Exchange, its board of directors also authorized the company’s filing of its registration statement and prospectus with the SEC.

It also authorized the filing of the listing application of the peso bonds with the Philippine Dealing Exchange Corp.

“The board has authorized the engagement of the services underwriters, advisors, legal counsels, stock and transfer agent, receiving agent or bank, and other agents as may be necessary,” the company said in a disclosure.

Shares in SMC shaved off 35 centavos or 0.36% to P97.65 each.

CEBU LANDMASTERS FINALIZES SIZE OF ISSUANCE
Cebu Landmasters, Inc. (CLI) downsized the initial tranche of its shelf offering to P5 billion from P8 billion, the firm disclosed on Thursday.

As earlier approved by the board of directors of the company, the program was supposed to cover a principal amount of up to P5 billion and an oversubscription option of up to P3 billion.

CLI said that the issue size of its maiden fixed rate bond offering will have an aggregate principal amount of P5 billion across three tenors.

“In a strong show of confidence in CLI, the company’s maiden retail bonds received strong demand from both institutional and retail investors, even as CLI price at the lowest end of the initial spread range,” the company said in a stock exchange disclosure.

The interest rate for the 3.5-year series A is at 6.4222%, 5.5-year series B at 6.9884%, and 7-year series C at 7.3649%.

CLI said that the public offer period will run from Sept. 26 to 30 on the condition of receipt of the permit to sell from the Securities and Exchange Commission.

On Thursday, shares in CLI lost 6 centavos or 2.49% to P2.35 apiece. — Justine Irish D. Tabile

Financial inclusion award named after Espenilla

A GLOBAL AWARD for financial inclusion has been named after the late former Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla, Jr., the central bank said on Thursday.

Malaysia-based Alliance for Financial Inclusion’s (AFI) inaugural “Nestor Espenilla, Jr. Financial Inclusion Innovation Award” is meant to honor Mr. Espenilla’s contributions to improving access to financial services in the Philippines and globally.

AFI has 82 members from 75 countries composed of central banks and regulatory financial institutions. It was established in 2008 with the BSP as one of its founding members.

The award was established with funding support from venture capital firm Flourish Ventures, “recognizes institutions that demonstrate outstanding commitment toward innovation and the use of technology to further financial inclusion,” the BSP said in a statement.

The first recipient of the award is the Central Bank of Egypt. The winner will get support from the AFI to implement that aims to boost financial inclusion through technology and innovation.

Mr. Espenilla served as BSP governor from July 2017 until his passing in February 2019 due to illness. He was with the central bank for nearly 40 years, starting as a debt analyst in 1982.

“Recognized as a global champion for financial innovation and inclusion, former Governor Espenilla played a critical role in advocating financial inclusion in the Philippines. He became a key figure in many of the BSP’s groundbreaking policies, including the use of the “test and learn” approach to promote high-impact innovations in a prudent manner,” the central bank said.

In a message, Maria Teresita F. Espenilla, the late BSP chief’s wife, said: “By serving as the inspiration for the award that will, in turn, inspire the efforts of others, my husband continues to support and contribute to the work of the AFI in harnessing the power of technology and innovation in order to bring about greater inclusion for many more unbanked people.”

The BSP, as part of its financial inclusion goals, wants 70% of Filipino adults to have a formal financial account by 2023 from 56% in 2021. — Keisha B. Ta-asan

Stuff to Do (09/23/22)

Negros Trade Fair returns

THE ASSOCIATION of Negros Producers (ANP) and the provincial government of Negros Occidental bring back the Negros Trade Fair to the Glorietta Activity Center until Sept. 25. The 36th edition of the trade fair showcases a selection of products created with skilled craftsmanship and renowned Negrense heritage. For more information, visit https://www.facebook.com/thenegrostradefair/.

‘Pista ng Kapuluan’ at Alabang Town Center

THE ALABANG Town Center (ATC) will host the “Pista ng Kapuluan” — a film festival curated by the Tayo Change Youth Agency — on Sept. 25 to 30 at the ATC Activity Center. The festival will debut and screen feature films on cultural experiences directed by Filipinos from around the country. The feature films include Kanlungan directed by Louise Isabel Mendoza; Pulangui by Bagane Fiola; Ola by Mijan Jumalon; Consequences of Man by Jeffrie Po; and Si Astri Maka Si Tambulah by Xeph Suarez. The award-winning film K’na the Dreamweaver, directed by Ida Del Mundo, will also be screened. All films will be looped and exhibited within a cube installation at the ATC Activity Center. The festival is also the soft launch of Generation Townie, a movement by Alabang Town Center to celebrate and support the creative, thoughtful, and nation-building projects of the younger set of Townies in the community. Admission is free.

Tanghalang Pilipino stages Anak Datu

TANGHALANG Pilipino stages Anak Datu on Sept. 16 to Oct. 9 as the second offering of its 36th season. It is the maiden production at the newly built Tanghalang Ignacio Gimenez (Blackbox Theatre) at the Cultural Center of the Philippines. A play with music, the story is a multi-story production that banners peace through the intertwining of conflicts in a folk tale, a piece of stark social realism, and an all-too-familiar family drama. It is based on a short story written by National Artist for Visual Arts Abdulmari Imao and adapted for the stage by veteran playwright Rody Vera, it is directed by Chris Millado. Anak Datu follows a man in the Sulu Archipelago during pre-colonial Philippines who was born in captivity and grows up believing his father is a former pirate until he discovers the truth. This short story gave birth to Mr. Vera’s stage adaptation adjacent with other events in the history of Mindanao including the Jabidah Massacre and the personal lives of Abdulmari Imao’s family in the 1970s. The play stars Marco Viaña, Fernando “Nanding” Josef, Antonette Go, Lhorvie Nuevo, Tex Ordoñez-de Leon, Carlos Dala, and Hassanain Magarang. For tickets and show buyer inquiries, contact 0915-607-2275 or e-mail tanghalangpilipinomarketing@gmail.com.

CCP holds outdoor light and sound show

AS THE Cultural Center of the Philippines (CCP) celebrates its 53rd anniversary, it brings back the show SINAG 2022: Lights and Sound Spectacle with onsite performances every 30 minutes at the CCP front lawn on Sept. 23 to 25 from 7 to 9.30 p.m. Admission is free. Health and safety protocols for outdoors must be observed.

BSP, BAP push for banks’ digital transformation

THE BANGKO SENTRAL ng Pilipinas (BSP) and the Bankers Association of the Philippines (BAP) will continue to foster digital transformation in the sector to meet demand for online financial services.

“Our policy agenda on digitalization will not only make the financial system more inclusive but also more efficient,” BSP Governor Felipe M. Medalla said in recorded opening remarks at the Asian Banker’s 2022 Finance Conference on Thursday.

“As you may know, we have welcomed the entry of digital banks into the system. These are new industry players that would further push the digital transformation of finance,” Mr. Medalla said.

The central bank has capped the number of digital banking licenses at six to monitor the development of the sector, ensure competition, and boost its capacity to regulate these kinds of lenders.

The six online lenders that secured licenses to operate in the country are Tonik Digital Bank, Inc.; GOtyme of the Gokongwei Group and Singapore-based Tyme; Maya Bank of Voyager Innovations, Inc.; Overseas Filipino Bank, subsidiary of Land Bank of the Philippines; UNObank of DigibankASIA Pte. Ltd.; and UnionDigital of UnionBank of the Philippines, Inc.

“To ensure that these banks safely operate, the BSP is about to issue the second set of rules that will clarify the prudential requirements applicable to digital banks,” Mr. Medalla said.

“A digital financial marketplace model is being developed, which will set forth, among others, the criteria for the grant of authority to engage in digital marketplace operations and the related supervisory expectations. The model builds on the open finance framework,” he added.

Earlier this week, the central bank said as part of the prudential requirements for digital banks, their reserve requirement ratio will be at 8% and they will likewise be covered by existing Basel III standards for big banks that mandate them to maintain adequate capital and liquidity buffers.

“Regulating banks amid accelerated digital transformation and post-pandemic recovery is very tricky. But with our three pillars guiding our actions, we are ready to face the challenge,” the BSP chief said.

“Rest assured that the BSP will continue to foster an enabling environment that allows the financial institutions under our supervision to contribute to our three pillars of price stability, financial stability, and safe, secure, and efficient payments and settlements system, while supporting economic growth,” Mr. Medalla added.

BAP President and East West Banking Corp. Chief Executive Officer Antonio C. Moncupa, Jr. said in a speech that financial institutions are undergoing “profound changes” towards digitalization.

“New players are coming in and introducing innovation and challenging the banks,” he said, adding that customers now expect better banking experiences.

Mr. Moncupa said government policy initiatives will also continue to usher banks towards digital transformation.

“With all these developments, digital adoption will only accelerate. While there are new players, perhaps more innovative and more agile, I see them more like a bridge than a threat to the banks,” he said.

“On behalf of the BAP member banks, we consider the digital push as good and positive. In the end, digital transformation will make financial transactions more efficient, take out some barriers, expand possibilities, and improve commerce,” he added. — K.B. Ta-asan

SEC warns public against ‘Sophia Francisco’ entities

THE SECURITIES and Exchange Commission (SEC) warned the public against investing in Sophia Francisco Holding OPC, which is also knowns as Financial Consultancy Services Sophia-Francisco or Sophia Francisco Trading, as it is not authorized to sell securities.

The entity is said to be enticing the public to invest money in the company with a minimal amount of P500 per account. Investors were promised to earn 60% in 20 days or 25% in just 10 days.

The commission also found that a 5% referral fee was promised to those who would be able to entice others to invest. Individuals were asked to register on the entity’s website and deposit money through various modes.

The SEC said that Sophia Francisco Holding OPC allegedly earns through crypto trading “by hitting its monthly win rate of 4% daily, 28% weekly, or 112% monthly.”

“The transactions stated above are considered securities in the form of ‘investment contracts’ which must be registered with the commission,” SEC said.

Although the commission’s records show that Sophia Francisco Holding OPC is registered as a one-person corporation and that Financial Consultancy Services Sophia-Francisco or Sophia Francisco Trading was granted a certificate of business name registration by the Department of Trade and Industry, these entities are not authorized to solicit investments from the public.

“Hence, the public is advised not to invest or stop investing in any investment scheme being offered by any individual or group of persons allegedly for or on behalf of and to exercise caution in dealing with any individuals or group of persons soliciting investment for on and behalf of it,” the commission said. — Justine Irish D. Tabile

What To See This Week (09/23/22)

Avatar

Avatar 

JAMES Cameron’s 2009 blockbuster returns to cinemas in a remastered 3D format in anticipation of the release of its sequel, Avatar: Way of the Water, in December 2023. Avatar follows Jake, a paraplegic war veteran who is brought to the planet Pandora to participate in a program designed to help him walk again. The program introduces him to his avatar, a creature whose genetics are half human and half Na’vi, a sentient humanoid race who inhabit Pandora. In time, Jake will find himself in the middle of an escalating conflict between the two races. The film stars Sam Worthington, Zoe Saldana, Sigourney Weaver, and Michelle Rodriguez. Rotten Tomatoes’ Tomatometer gives it a score of 81%, and an audience score of 82%.

MTRCB Rating: PG

The Possessed

JACOB Chandler and his nephew Liam have forged a career clearing demons from the bodies of their clients. Something has changed lately as possessions increase and Jacob fights to keep those he loves safe. When he meets Liam’s new girlfriend, he recognizes something in her dark, broken gaze. Directed by Chris Sun, the film stars John Jarratt, Lincoln Lewis, Angie Kent, Lauren Grimson, Jade Kevin, and Simone Buchanan. Anton Britel of Sight & Sound writes: “With even the demons being little more than mischief makers, this comes surprisingly without much sense of peril, or even of narrative closure — but with plenty of good-natured charm.”

MTRCB Rating: R-16

‘Great resignation’ finds PHL workers wary of job-hopping

REUTERS

PROFESSIONALS in the Philippines are responding to the so-called “Great Resignation” by expressing reluctance to switch jobs unless they have another job offer lined up, according to recruitment consultancy Robert Walters, citing the results of a survey.

The report on the results of the survey, “The Not-So-Great resignation,” which was released on Thursday, indicates that 57% of Filipino professionals cited an assured landing spot as a precondition for leaving their current employer.

According to Robert Walters, the survey was conducted in June and involved 2,638 professionals and 1,131 companies in Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam.

“Job security proved important for the Philippines, with 57% of professionals uncomfortable leaving their job without a new one lined up… although they have thought of resigning, 38% of professionals still didn’t leave their jobs,” the report said.

“Among Southeast Asia, professionals in the Philippines are most likely to have (re-evaluated) how work fits into their personal lives… Talent in the Philippines was also the sole group in Southeast Asia to clearly prioritize work flexibility in (valuing) an employer,” it added.

The survey found that 74% of professionals in the Philippines considered resigning last year but 38% decided not to.

The top reasons affecting their decision to stay include no suitable replacement job (60%), uncertainty over the new workplace’s culture (33%), and changes in personal circumstances (26%).

Some 89% of talent in the Philippines have re-evaluated their work-life priorities over the past year, with a new focus on mental and physical health, the survey found. “Beside salaries, professionals value flexible work arrangements and inspirational colleagues and culture when looking at employers,” the survey said.  

“Companies should attract and retain employees through holistic packages that cover salaries, work flexibility and career development. Also, consider hiring and grooming talent based on potential, as they will be more likely to stay and grow with your organization,” Robert Walters Philippines Senior Manager Mae Mendoza said. — Revin Mikhael D. Ochave

Weighing financial benefits against social risks

FINANCE Secretary Benjamin Diokno has expressed his desire to discontinue the activities of Philippine Offshore Gaming Operator (POGO) companies due to the social cost associated with the industry. He said the country would incur a bad reputation for continuing to host the POGO firms during the recent Senate briefing by the Development Budget Coordination Committee (DBCC) on the proposed 2023 national budget.

DBCC is composed of the Department of Finance (DoF), the National Economic and Development Authority, the Bangko Sentral ng Pilipinas, the Department of Budget and Management, and the Office of the President. It determines the country’s overall economic targets, expenditure levels, revenue projections, deficit levels, and financing plans that are submitted to the President and the Cabinet for their approval.

The DoF chief remarked that since the online gaming industry has been banned in other countries like China and Cambodia, “people will ask why are they going to the Philippines?” To which he himself replied: “Maybe because we are loose or we are not strict on our rules, so we have reputational risk.”

On the other hand, the Philippine Economic Zone Authority had warned earlier about a possible real estate vacuum in Metro Manila once POGOs pull out of the country, while the Philippine Chamber of Commerce and Industry was worried that a mass exodus of mainland Chinese-owned POGOs would not only depress the growth of the entire property sector but also deprive the economy of much needed revenues.

In its latest market report, Leechiu Property Consultants projected that office rental rates could collapse by as much as 85% if the remaining legitimate POGOs are kicked out of the country. According to the leading real estate expert, the Manila Bay Area would be the hardest hit with lease figures expected to drop to as low as P300 per square meter from the 2019 peak of P1,500 per square meter.

POGO companies have emerged as the biggest lessees and buyers of office space in the Bay Area, where three integrated casino resorts are operating and one more is under construction. Rental rates there outperformed other property markets such as Makati, Ortigas, Taguig, and Alabang prior to the pandemic.

Not surprisingly, the area has also attracted large-scale reclamation projects spanning the cities of Navotas, Manila, Pasay, and Parañaque as well as the provinces of Cavite and Bulacan. To date, there are 25 such projects that aim to reclaim more than 100 square kilometers of land along the Bay Area’s coast. The Philippine Reclamation Authority (PRA) has so far approved six of these projects, the latest of which is Manila Waterfront City, a joint venture between Waterfront Manila Premier Development, Inc. (WMPDI) and the local government unit of Manila.

This 318-hectare public-private partnership has been valued at P34 billion by its proponent, translating to approximately P10,700 per square meter. Another property developer, Asian Seas Resources and Construction Development Corp., has asked the PRA to scrutinize it considering that a reclamation project should cost about P30,000 per square meter at current prices.

PRA Assistant General Manager Joseph John Literal disclosed that his office is looking into the alleged undervaluation based on industry standards, as the P34-billion project’s valuation is only based on WMPDI’s submissions. He noted that the social environment fund and regulatory fees of P800 million constitute part of the total fees that WMPDI needs to settle with the National Government agency.

Other projects that have already been approved by the PRA include the 360-hectare township of SM Prime Holdings, Inc. in Pasay City; the 418-hectare Horizon Manila consisting of three islands; the 650-hectare Navotas City Coastal Bay reclamation; the 148-hectare Manila Solar City venture; and the 265-hectare Pasay Harbor City project.

It remains to be seen, though, how the country’s real estate market would be able to absorb the combined 2,000-plus hectares of these land reclamation projects should the shutdown of the POGO industry push through.

The opinion expressed herein does not necessarily reflect the views of these institutions and BusinessWorld.

 

J. Albert Gamboa is the chief finance officer of Asian Center for Legal Excellence and chairman of the FINEX Media Affairs Committee.  #FinexPhils www.finex.org.ph

CREIT board clears P4.5-B unsecured fixed rate bonds

CITICORE Energy REIT Corp. (CREIT) said on Thursday that its board of directors had approved the issuance of P4.5 billion worth of unsecured fixed rate ASEAN green bonds.

In its regulatory filing, CREIT said its green bonds comprised of a based offer of up to P3 billion with an oversubscription option of up to P1.5 billion. These are subject to the approval of the Securities and Exchange Commission and Philippine Dealing and Exchange Corp.

Proceeds from the green bond offering will be used for the acquisition of multiple operating solar rooftop systems and various real estate properties suitable for utility-scale solar power plants.

ASEAN green bonds are specific bonds where proceeds will be exclusively applied to fund or refinance new or existing green projects.

In the second quarter, CREIT recorded a net income of P300.84 million, or more than four times higher than the P65.68 million earned in the corresponding period last year.

CREIT is a listed company whose listing was sponsored by Citicore Renewable Energy Corp.

On Thursday, shares in the company slipped by 1.74% or four centavos to end at P2.26 apiece. — Ashley Erika O. Jose

Entertainment News (09/23/22)

FACEBOOK.COM/ONEREPUBLIC/

OneRepublic to perform in Manila in 2023

GRAMMY nominated, multi-platinum selling band OneRepublic announced their return to Asia with the Live in Concert tour, which includes a performance on Feb. 23 at the Smart Araneta Coliseum in Quezon City. The band’s popular singles include “Apologize,” “Stop and Stare,” “Rescue Me,” and “Counting Stars.” Presented by Wilbros Live, concert tickets will go on sale on Sept. 30 at 10 a.m. via TicketNet.com.ph and TicketNet outlets nationwide.

Mang Lalakbay is a travel show for kids

Mang Lalakbay, the country’s first educational travel show for children, will bring them to scenic places across the country to learn and have fun at the same time starting Sept. 25 at 9:30 a.m. Airing on A2Z Channel 11 on free TV and the Kapamilya Channel on cable, livestreamed on Kapamilya Online Live, and available on demand on iWantTFC, Mang Lalakbay has everything a child could ever want while traveling under a “better normal” with their parents and families. Every Sunday, the playful Kuya ‘Bay (played by singer-actor Vic Robinson) will lead the kids in exploring natural and manmade attractions, including lush forests, rugged terrains, and bustling cities. Mang Lalakbay will guide the kids in appreciating and preserving the environment while learning from their own fun encounters, interactions and curiosities in the show’s 11 episodes. The pilot and second episodes will focus on animals and the importance of sanctuaries and zoos, while its third episode will tackle the need to adopt and care for rescued animals as pets instead of buying. Recycling and reuse of plastic waste is the focus of the 4th episode, while the 5th episode will show how trees protect the country’s watersheds and make the process of “from forest to faucets” possible. There will also be episodes on sports, nutrition, literature, different water forms, preserving underwater marine life and a coastal cleanup of Subic Bay and Olongapo City in Zambales. The show is produced by the creative production agency The Jumpcat Experiment with a grant from the National Council for Children’s Television’s National Endowment Fund for Children’s Television program. For sponsorship and brand partnership, call Sarah Geocadin at 0927-0775-048 or e-mail sarah.thejumpcatexperiment@gmail.com.  

STB collaborates with singer Charlie Puth

THE SINGAPORE Tourism Board (STB) is partnering with Warner Music Singapore and Grammy-nominated singer, songwriter and producer Charlie Puth in a creative collaboration to showcase Singapore’s destination offerings, as part of STB’s SingapoReimagine campaign. The collaboration, which will culminate in a video released in October, features the multi-platinum artist’s travels around the city. Mr. Puth will reimagine Singapore up-close and personal through his musical lens as he converses and shares his experiences, while exploring the different sights and sounds, from iconic spots to hidden gems. Mr. Puth’s one-week trip included Here Is SG, the latest photo-worthy spot and interactive space at Marina Bay waterfront promenade, as well as Long Bar at Raffles Hotel. The singer also explored lesser-known locations. The campaign will launch across STB and Charlie Puth’s social media platforms in October.      

Custom outfits in Björk’s new single

GUCCI Creative Director Alessandro Michele has designed two custom pieces to be featured in the video of the song “Ovule” by Björk and Nick Knight. The single is part of the artist’s new album, Fossora, set for release on Sept. 30 via One Little Independent Records. For “Ovule,” Michele created two one-of-a-kind stage costumes. To celebrate the creation of the dresses, Gucci released a special “making of” video. The film, directed by Tommaso Arnaldi, showcases the House’s artisans applying hand embroidered sequin fringes and crystalline edgings to one of the custom gowns. Watch the video at www.youtube.com/watch?v=kLBt4L_pDBg.

Película to screen in PHL, Malaysia, and Australia

ASIDE from returning to physical screenings in Philippine theaters, this year’s Película Spanish Film Festival is expanding regionally with online screenings in Malaysia and Australia. Owing to the success of the festival since its first run in 2002 by Instituto Cervantes de Manila, Película has been an annual attraction in Philippine theaters. Since then, countless films have been screened in theaters in the Philippines and have grown a steady following among Filipino film fans. Now in its 21st edition, the Película Spanish Film Festival will run from Oct. 5 to 16. All the movies are in Spanish (or their original language) with English subtitles. For updates on the Festival, visit the website at https://pelikula.org or the Facebook page of Instituto Cervantes de Manila: www.facebook.com/InstitutoCervantesManila.

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