AC Energy profit rises 68% in Q3

November 5, 2021 | 12:04 am

AYALA-LED AC Energy Corp. (ACEN) recorded a 68% increase in its attributable net income in the third quarter, mainly driven by higher revenues from the sale of electricity and growth in its operating capacity.

In a regulatory filing with the Philippine Stock Exchange website on Thursday, AC Energy said its net income attributable to equity holders of its parent company rose to P1.58 billion in July to September from just P938.56 million in the same period last year.

Its consolidated net income in the period went up 67% to P2.26 billion from P1.35 billion a year ago.

For the first nine months, AC Energy recorded an attributable net income of P4.27 billion, up 22% from P3.51 million last year.

“The continued recovery of electricity demand in Luzon, as well as the growth in new operating capacity from recent acquisitions and greenfield projects contributed to ACEN’s noteworthy performance,” it said in a statement.

Attributable output grew 17% to 3,378.1 Gigawatt hours (GWh) in the first nine months of the year, up from 2,897.3 GWh in the same period last year.

“Challenges in the availability of thermal assets, coupled with high WESM (Wholesale Electricity Spot Market) prices, led to an increase in the cost of purchased power during the period, but this was partially offset by improved wind regime,” the company said.

In the third quarter, the company’s revenues increased by 3.48% to P5.47 billion from P5.28 billion.

Revenues from the sale of electricity went up 3% to P5.42 billion due to higher demand for electricity following the lockdown, “increased retail contracts, and growth in operating capacity.”

AC Energy acquired additional stakes in the 48-megawatt (MW) ISLASOL and SACASOL solar farms in Negros Occidental last year.

The company’s 60-MW Gigasol3 and 120-MW SolarAce1 solar power plants have also started commercial operations in April and June 2021 “which also contributed to the increase.”

Meanwhile, rental income rose 75% to P15.1 million. Other revenue, which consists of management fees earned by the company from its joint ventures as well as bulk water sales, climbed 134% to P31.8 million.

“ACEN continues to be a direct beneficiary of the steady resurgence in consumer confidence in both the Philippines and the Asia-Pacific. The company continues to aggressively roll out renewable energy investments in the Philippines and across the region, and is well-positioned to address the tightening supply-demand dynamics, as electricity demand continues to recover and fossil fuels become more expensive,” AC Energy President and CEO Eric T. Francia said.

AC Energy has 2,875 MW of attributable capacity in the Philippines and across the region, of which 1,908 MW are already operating.

Shares of AC Energy rose 0.49% or six centavos to finish at P12.26 apiece on Thursday. — BADA

RCBC expects card business to recover this year

November 5, 2021 | 12:04 am

RIZAL COMMERCIAL Banking Corp. (RCBC) expects a rebound in the credit card industry this year as the economy gradually recovers.

RCBC President and Chief Executive Officer (CEO) Eugene S. Acevedo said the industry’s credit card business experienced a slump in 2020 as the pandemic altered consumers’ lifestyle.

“But steadily, RCBC and the rest of the country’s banking industry are changing the pace this year. We are now seeing a quick recovery of the market in 2021,” Mr. Acevedo said at the launch of the RCBC Bankard’s new partnership with MasterCard, Inc. and Zalora Philippines.

“The continued revival of economic conditions, along with the ongoing vaccine distribution, can only positively impact the Philippines’ credit card market,” he added.

The three firms partnered to launch the Zalora Credit Card, which is particularly targeted for online shoppers interested in fashion and lifestyle benefits and freebies.

Mastercard Philippines Country Manager Simon Calasanz said the credit card is equipped with security features, including secure codes and authenticators, to help protect consumers in their online transactions.

“The new Zalora co-brand card gives users a physical first experience, meaning a virtual card is issued as soon as your application is approved. So you can start using it while waiting for your physical card in the mail,” Mr. Calasanz said.

The credit card is also a move towards sustainability as it is made using eco-friendly materials, RCBC Bankard Services Corp. President and CEO Arniel Vincent B. Ong said.

“It’s not made out of recycled material but it’s non-edible corn, which makes it a sustainable plastic substitute,” Mr. Ong said.

The maximum spending limit for their credit cards is “normally capped at P5 million”, although this could be adjusted higher depending on a customer’s capacity, he said.

“You can imagine how a lot of the affluent customers actually use up a lot of these high limits. There are really customers with very, very high usage,” he added.

Mr. Ong said consumer confidence has improved as the economy gradually reopens, as seen in the rise in credit card transactions.

“When we take a look at transaction volumes, they’re now up by about 15% for the industry. What’s probably more relevant is for RCBC, it’s up by about 25% year on year in the first nine months,” Mr. Ong said.

He also noted that their delinquency rate has generally improved as financial institutions have made arrangements with their customers on the management of their debts.

“So it will be a single-digit delinquency rate, which is similar to what RCBC is experiencing. In our case, delinquency has already peaked and we are now getting near to pre-pandemic levels,” he said.

Meanwhile, Zalora Philippines Co-founder and CEO Paulo L. Campos III said they expect “revenge shopping,” or making up for the time lost to the pandemic by spending, to fuel the rise in credit card payments.

“E-commerce in the Philippines is still going strong, and poised to grow to $15 billion in 2025, coming from $3 billion in 2019 and $4 billion in 2020,” Mr. Campos said.

RCBC Bankard and Zalora are waiving the card’s annual fee for the first year of use.

RCBC shares ended trading at P19.80 apiece on Thursday, up by 20 centavos or by 1.02%. — Luz Wendy T. Noble

Actress Kristen Stewart engaged to partner Dylan Meyer

November 5, 2021 | 12:03 am

LOS ANGELES — American actress Kristen Stewart said on Tuesday she was engaged to her partner of two years, actress and writer Dylan Meyer. Stewart, who in 2017 said she was bisexual, said Meyer had proposed to her. “We’re marrying, we’re totally gonna do it. … I wanted to be proposed to, so I think I very distinctly carved out what I wanted and she nailed it,” Stewart told SiriusXM’s The Howard Stern Show. “It was very cute. … We’re marrying, it’s happening.” Stewart, 31, plays Britain’s Princess Diana in the film Spencer, which arrives in movie theaters this week. She rose to global fame in the Twilight movies and dated her co-star, Robert Pattinson. Meyer, a writer and actress, is known for her work on the Netflix movie Moxie, and Miss 2059. — Reuters

SEC clears ACR’s P600-M commercial papers

November 5, 2021 | 12:03 am

THE Securities and Exchange Commission (SEC) has approved Alcantara-led Alsons Consolidated Resources, Inc.’s (ACR) plan to offer P600 million in commercial papers.

In a regulatory filing on Thursday, ACR said it received from the corporate regulator the certificate of permit to offer securities for sale.

The issuance forms part of the second tranche of the company’s P3-billion commercial paper program.

The P600-million debt papers will be composed of 364-day “Series Q” securities with a discount rate of 3.75% per year.

“These securities may now be offered for sale or sold to the public,” the SEC said in its certificate of permit dated Nov. 2.

It added that the issuance of the second tranche must comply with the Securities Regulation Code and the Revised Code of Corporate Governance, among others.

The SEC earlier this year cleared ACR’s P3-billion commercial paper program, which the firm said it plans to issue in one or more tranches within three years.

The first tranche, which has a base principal amount of P2 billion, was composed of 182-day “Series O” securities with a discount of 3.25% per annum.

ACR is under the Alsons Power umbrella brand.

Shares of ACR improved by 0.87% or one centavo to close at P1.16 apiece on Thursday. — Angelica Y. Yang

BSP’s green investments may reach $1B by 2023

November 5, 2021 | 12:03 am

THE BANGKO SENTRAL ng Pilipinas’ (BSP) investment in green bonds could reach $1 billion in the next two years as it continues to move towards sustainability, BSP Governor Benjamin E. Diokno said.

“[It’s] possible [to reach it] before the end of my term in 2023,” Mr. Diokno said at an online briefing on Thursday.

“Consistent with the timeline in 2023, the BSP will be further issuing sustainability-related guidelines that will cover the areas of investment activities about climate stress-testing and prudential reporting,” he added.

The BSP has so far invested $550 million in the green bond fund of the Bank for International Settlements, of which $200 million was placed earlier this year.

Rhodora M. Brazil-De Vera, deputy director of the Supervisory Policy and Research Department at the BSP, said more investments could be funneled into the green fund given the central bank’s commitment to sustainable financing.

“There may be a chance to increase it further because the BSP adopted its strategic allocation to green bonds that is subject to the approval of the Monetary Board. So the BSP will continue to look for opportunities on how it can increase its green bond holdings as part of its championing the sustainability agenda in the financial system,” Ms. Brazil-De Vera said.

Mr. Diokno earlier said they have no specific target for the BSP’s exposure to green investments.

The BSP is a part of the green force, an interagency technical working group for sustainable finance composed of 18 government agencies that it co-chairs with the Department of Finance.

Other members of the group are the Securities and Exchange Commission, Insurance Commission, Climate Change Commission, Department of Energy, Department of Environment and Natural Resources, National Economic and Development Authority, Bases Conversion and Development Authority, Department of Agriculture, Department of Budget and Management, Department of Interior and Local Government, Department of Public Works and Highways, Department of Science and Technology, Department of Transportation, Department of Trade and Industry, Mindanao Development Authority, and the Public-Private Partnership Center.

In October, the government unveiled its Sustainable Finance Roadmap that seeks to address gaps in policies and regulations in terms of promoting sustainable investments.

Meanwhile, the BSP last year released its own sustainable finance framework, which directed banks to adopt sustainability principles through environmental and social risk management systems. Banks were given three years to adopt the principles.

Last week, the BSP released the second phase of the framework through Circular 1128, which directs banks to monitor their environmental and social risks in their credit exposures and business operations. — L.W.T. Noble

DoLE to iron out Saudi OFW back pay details

November 5, 2021 | 12:03 am

OFW-NAIA — PHILIPPINE STAR/KRIZ JOHN ROSALES

THE LABOR department said Thursday that it will form a special task force to expedite the release of back pay and end-of-contract benefits owed to overseas Filipino workers (OFWs) forced to return home from Saudi Arabia in 2016.

In a statement, the Department of Labor and Employment (DoLE) said it will create a technical working group whose members will include the Riyadh-based labor officer, the Overseas Workers Welfare Administration (OWWA), and the Philippine Overseas Employment Administration (POEA), as well as representatives from a Saudi Arabia OFW group “to determine all details relevant to the release of the full settlement.”

Labor Secretary Silvestre H. Bello III also “ordered the inclusion of OFW representatives in the group that will meet with its counterpart from KSA (the Kingdom of Saudi Arabia) in order to hasten the processing of claims by some 9,000 OFWs,” DoLE added.

The Philippine and Saudi Arabian governments led by Mr. Bello and Saudi Labor Minister Ahmed al-Rajhi held talks in Dubai last week, DoLE said.

Citing OWWA Administrator Hans Leo Cacdac, DoLE said all specifics, such as eligibility, distribution, and documentary requirements will be finalized through the technical working group and should be ready before the scheduled visit of the Saudi Arabian labor minister in December.

The Saudi Arabia government is expected to pay P4.6 billion in unpaid salaries to 9,000 OFWs, Mr. Bello has said. — Kyle Aristophere T. Atienza

Deere union workers reject labor agreement offer

November 5, 2021 | 12:02 am

MEMBERS of the United Auto Workers (UAW) union rejected a deal with Deere & Co., extending a nearly three-week-long strike and illustrating the growing willingness of US workers to hold out for better terms.

The second rejected deal offered substantial improvements over one that workers turned down before going on strike, and included larger wage increases, no new tiers to retirement benefits and a signing bonus of $8,500.

The wage increase offered at 14 Deere facilities was larger than nearly a dozen other collective bargaining agreements the UAW has negotiated since 2018, according to Bloomberg Law’s database of labor contracts.

“Thirty five years ago, workers at Deere lost a lockout and took a deal that froze and reduced wages,” said University of Chicago historian Gabriel Winant. “Today they rejected an offer that starts with a 10% raise. It’s the biggest downward shift in the economic balance of power in my lifetime.”

Some 10,000 Deere employees — about 14% of its global workforce — went on strike on Oct. 14 for the first time since 1986, having rejected a prior deal that called for a 5% to 6% wage increase for the first year. The world’s biggest farm equipment maker has kept its factories running, using salaried employees. The company said the focus has been operating parts depots and its parts distribution center to ensure farmers can complete their harvest season.

The strike comes as supply chain snags for semiconductors and other parts are already causing turmoil at a time of peak demand for tractors during the US harvest. The consensus of analysts’ estimates compiled by Bloomberg shows the company will report $10.6 billion in net sales from equipment operations when it reports fiscal fourth-quarter earnings Nov. 24.

“By a vote of 45% yes to 55% no, UAW John Deere members voted down the agreement this evening,” the union said in a statement late Tuesday. “The strike against John Deere and Co. will continue as we discuss next steps with the company.”

Production and maintenance employees at 12 plants rejected the agreement, while workers at parts facilities in Denver and Atlanta approved a separate agreement with identical economic terms, the company said in a statement.

“Through the agreements reached with the UAW, John Deere would have invested an additional $3.5 billion in our employees,” Deere said. “With the rejection of the agreement covering our Midwest facilities, we will execute the next phase of our Customer Service Continuation Plan.”

The six-year contract that was rejected also included wage hikes of 5% in the third and fifth years, as well as lump-sum bonuses amounting to 3% of worker pay for the other three of the six-year contract. It also offered a $35,000 retirement bonus for workers with 10 to 24 years on the job and a $50,000 bonus for workers with at least 25 years.

The company’s existing “two-tier” compensation system, in which workers hired since 1997 receive less generous benefits than those who started working there earlier, has been a sticking point for many employees, and would not have been abolished by the tentative agreement.

Deere’s much-improved contract offer, and its employees’ choice to reject it, reflect workers’ increased leverage and heightened expectations at a moment of tight labor markets and heightened political focus on “essential workers.”

“The Deere strikers and others may be gaining a new awareness of their leverage in the current labor market, and that the time to act is now,” said Chris Rhomberg, a sociology professor at Fordham University. “The stakes are high, but a victory for the union in this strike can help re-shape the terms of the post-pandemic economy.”

The number of US workers on strike could grow substantially in the coming weeks if some of the tens of thousands of Kaiser Permanente healthcare workers who have authorized work stoppages walk off the job, or if film and TV workers follow their Deere counterparts’ lead in rejecting tentative deals negotiated by union leaders.

MORE LEVERAGE
While the current labor market has strengthened workers’ hand and weakened the threat of permanently replacing striking workers across the board, employees have particular leverage in those sectors where strikes can seriously disrupt or halt production.

That includes the International Alliance of Theatrical Stage Employees (IATSE) members slated to vote in the coming weeks on tentative deals reached with film and TV producers days before a planned strike, and the West Coast International Longshore and Warehouse Union members whose contracts expire next summer, as well as the Deere workers.

The Deere strikers’ leverage rests “on the times, but also on their ability to shut down production,” former Communications Workers of America President Larry Cohen, who now chairs the advocacy group Our Revolution, said Sunday. “You can’t do that everywhere — it’s harder at a Kellogg’s where they are importing stuff.” — Bloomberg

Stuff to do (11/05/21)

November 5, 2021 | 12:02 am

THE NEW Ortigas Foundation Library has reopened at the second floor of the McKinley building (above Unimart) in Greenhills Shopping Center, San Juan City. It is now open for library services. Research and topics can be browsed at http://ortigasfoundationlibrary.com.ph/. Reservations to visit must be made ahead of time through e-mail at ortigasfoundation@ortigas.com.ph. A time limit for research may apply depending on the number of visitors. Upon arriving, visitors must provide an ID, proof of vaccination, and fill up a standard health declaration form. They must wear a mask at all times inside the library premises. The library is open from 9 a.m. to 3 p.m. Parking spaces are available. The gift shop is also now open as well as the Conservation Lab to provide restoration services. For more details, visit https://www.facebook.com/Ortigas.Foundation/.

CCP re-opens with limited film screenings

TWENTY months after it closed down its theaters and other venues, the Cultural Center of the Philippines (CCP) will hold special premiere screenings of select feature and documentary films celebrating Filipino excellence. Collectively known as WAGI: A Celebration of Filipino World-Class Excellence, all the special screenings are scheduled at 7 p.m., at Main Theater. On Nov. 5, the CCP opens its doors with the screening of A Thousand Cuts, a social documentary by filmmaker Ramona Diaz, to celebrate the first Nobel laureate from the Philippines and Rappler CEO Maria Ressa. A Q&A session with the film director follows. Filipino pride and excellence in sports takes the spotlight in the special screening of the GMA 7 documentary Team Pilipinas on Nov. 26. Produced by journalist Atom Araullo, the film honors the athletes who represented the Philippines and bagged medals at the 2020 Tokyo Olympics — gold medalist Hidilyn Diaz, silver medalist Nesthy Petecio, silver medalist Carlo Paalam, and bronze medalist Eumir Marcial. The Philippine premiere of On the Job: The Missing 8 will be held on Dec. 9. Directed by Erik Matti, this film saw actor John Arcilla winning the Coppa Volpi for Best Actor to actor John Arcilla at the Venice Film Festival. The special screening is co-presented with the Embassy of Italy in Manila. There will be a Q&A session after the screening. Following the new rulings on the government-imposed lockdowns, the CCP will open with 30% audience capacity. Only audience members who are fully vaccinated will be allowed inside the theaters. They need to present their vaccination card/ID at the entrance, fill up a health declaration form or the Stay Safe app, and present their tickets/scannable QR Codes on mobile. Guards will do routine temperature checks before entering. For more information, visit the CCP website, www.culturalcenter.gov.ph, or follow the official CCP social media accounts on Facebook, Twitter and Instagram for updates.

Pru Life UK launches new global fund

November 5, 2021 | 12:02 am

PRU LIFE UK will be offering a new equity fund that gives investors access to global markets without needing to convert their peso holdings into foreign currency.

Called the PruLink Global Equity Navigator Fund, the product has allocations for equity markets in at least 10 major economies including the US, Japan, South Korea, United Kingdom, Canada, Brazil, France, Switzerland, Germany, and Australia, among others, Pru Life UK Vice-President for Investment Marketing Mark Anthony A. Valino said in an online briefing.

The fund will be available in the country starting Nov. 8. It is managed by Singapore-headquartered Eastspring Investments.

Existing and new Pru Life UK policyholders may avail of the product. It can be attached to their investment-linked life insurance policies.

The fund is suitable for young starters positioning for long-term investments, high-income earners looking to diversify their portfolio, as well as investors already familiar with the international financial markets, Mr. Valino said.

As it is a dollar-denominated feeder fund, investors should be aware of the risk that comes with currency volatility, he added.

“Make sure that you are able to accept and appreciate all of these risks that come also with the growth opportunities,” Mr. Valino said.

This month, the insurer welcomed Eng Teng Wong as its new president and chief executive officer, succeeding Antonio G. De Rosas following the latter’s retirement. Mr. Wong was previously the chief revenue officer and chief officer for ecosystem implementation at Prudential Services Asia.

Mr. Wong said he is optimistic about the untapped opportunity in the Philippines given its 111-million population, saying this is much bigger compared to the 32-33 million in Malaysia where he came from.

“We [in the Philippines] have one of the largest agent force in the country, not just the largest but also youngest and also growing fast,” he said.

He added that he hopes to address the challenge of financial literacy in the country.

Pru Life UK booked the second-highest net premium in the life insurance sector worth P30.98 billion last year, based on data from the Insurance Commission.

The insurer’s net income of P3.27 billion was the fourth biggest in the industry in 2020, while it ranked fifth in terms of its assets with P117 billion. — L.W.T. Noble

8990 Holdings earnings up 6.6% in third quarter

November 5, 2021 | 12:02 am

LISTED mass housing developer 8990 Holdings, Inc.’s net income reached P1.94 billion in the third quarter, higher by 6.6% year on year, on the back of higher real estate sales.

Based on its unaudited financial statements released on Thursday, 8990 Holdings said real estate sales in the three months ending September hit P5.34 billion, higher by 11% versus its level in the same period last year.

In the three months ending September, sales from the firm’s real estate business accounted for over 99% of the company’s revenues.

However, the company’s costs and expenses increased by 5% to P2.57 billion in the third quarter compared to P2.45 billion previously.

For the first nine months of the year, 8990 Holdings registered a net income of P5.40 billion, up by 63% compared to the P3.31 billion recorded in the year before.

“Our outstanding results, both for the third quarter of 2021 and for the first nine months of the year, definitely show an increase in confidence for the future from our core market of first-time homebuyers and end users,” 8990 Holdings President and Chief Executive Officer Anthony Vincent S. Sotto said in a separate press release.

“We are confident that with our products geared specifically to our core housing market, 8990 will finish 2021 strongly and signal the economy’s recovery for 2022 and beyond,” he added.

The firm noted that the country’s real estate sector is beginning to recover from the effects of the global health emergency amid the government’s continued rollout of its vaccination program against the coronavirus disease.

In addition to horizontal mass housing projects, 8990 Holdings also develops medium-rise condominiums and high-rise building projects.

Shares of 8990 Holdings inched down by 0.37% or four centavos to finish at P10.74 apiece on Thursday. — A.Y. Yang

Entertainment News (11/05/21)

November 5, 2021 | 12:01 am

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3SF Festival bares 20 finalists

ORGANIZERS of the Three Shots Film (3SF) Festival revealed the finalists to its new and unique competition. Media Underground or MUD Studios challenged students 16 to 25 years old to make a short film — fiction, documentary, or animation — using only three shots and three cuts for a story composed of a beginning, middle and end, with a minimum running time of one minute and a maximum of 15 minutes. Making it to the Top 20 are Cedric Dalangin (Sa Tanan Nga Adlaw), Calvin Ponteblanca (Feelingerong Feline) and John Thomas Trinidad (Boom Tiyaya) from University of the Philippines-Diliman; Mark Wilson S. Catindig (Ip-) and Christine Anne C. Crisostomo (Kabtang), Lyceum of the Philippines University-Manila; Lyka Calingasan (Lamang Lupa) and Janina Cortez (4:00 p.m.), De La Salle-College of Saint Benilde; Angelo P. Gillo (Ninong, Enge Arep) and Mark Jhon Villanueva (Living), University of the East-Caloocan; and Rainner S. Cion (Sakaling Makalipad), Far Eastern University-Manila; Jhody Alessandra Sacramento (Laruan), St. Dominic College of Asia; Jermaine Tulbo (Bulawan), Meridian International College; Ma. Aizil Blues Turen (Alpas), San Sebastian College-Recoletos, Manila; Peter Solano (Do or Die), Universidad de Manila; Alyssa Maxine B. Balayo (Nilaga), University of Santo Tomas; Faith Carisa Lacanlale (Bagito), UP Baguio; Francis Lester S. Lacambra (Per Kilo), Gordon College, Olongapo City; Francis Ryan Basa Pabiania (Paghibi sang Langit), Silliman University, Dumaguete; Preanne Nicole Parojinog (Kalat), Malayan Colleges Mindanao, A Mapúa School, Davao; and Dominic Howell Dumogho (Sumalangit Nawa), Father Saturnino Urios University, Butuan City. The 3SF Festival finalists will be available for viewing on MUD’s website https://www.mud-studios.net/ from Nov. 5 to 11. Awarding ceremonies will be held on Nov. 12, 8 p.m. The Best Film, Best Direction, and Best Cinematography winners will receive cash prizes and plaques of recognition. The festival will also hand out a People’s Choice award.

DC blockbusters and series on HBO GO

DC blockbusters, including James Gunn’s The Suicide Squad and other series featuring crime-fighting heroes, can now be streamed on-demand on HBO GO. Mr. Gunn gives a new twist to Warner Bros. Pictures’ DC franchise on the team-up of the most notorious criminals as they put their lives on the line to save the world. The film stars Viola Davis, Margot Robbie, Idris Elba, Michael Rooker, Sylvester Stallone, and John Cena. Viewers can watch more DC movies anytime on HBO GO, including box-office hits Man of Steel, Wonder Woman, Zack Snyder’s Justice League, and the series Arrow, Batwoman, DC’s Legends of Tomorrow, DC’s Stargirl, Doom Patrol, and more. Monthly subscription is priced at P99 which can be charged to a SKY subscriber’s monthly bill. HBO GO is also accessible as a built-in app on SKY EVO, SKYcable’s latest digibox innovation.

Robinsons Malls, Ben&Ben team up for Christmas song

THIS year, Robinsons Malls has chosen the popular, nine-member group Ben&Ben to get mall visitors into the holiday mood. With their cool vocal stylings and relaxing chords, the “famband” is the perfect complement to the mall chain’s aim to be the favorite place of Filipinos eager to celebrate with family and friends. For this new partnership, Ben&Ben created a fresh take on the popular Christmas song “Tuloy na Tuloy pa rin ang Pasko” which is expected to receive heavy airplay in music streaming platforms and at Robinsons Malls nationwide. Fans can likewise look forward to performances by the band exclusively presented by Robinsons Malls.

K-drama Happiness premieres on iQiyi

KICKING off on Nov. 6 on iQiyi is the new K-drama HAPPINESS, which takes place in a time when infectious diseases are the new normal. Set in a newly constructed apartment where the higher floors are for sale and the lower floors are rented out, the series depicts the subtle psychological battle and the class discrimination that occurs. Police officer Yoon Sae-bom (Han Hyo-joo) and her high school classmate Jung Yi-hyun (Park Hyung-sik) are also trapped in the apartment, fighting for survival as fear and distrust spreads amongst its residents. Directed by Ahn Gil-ho, the series stars Han Hyo-joo, Park Hyung-sik, and Jo Woo-jin. Beginning Nov. 6, new episodes of Happiness will be released at 12 p.m. every Saturday and Sunday on the iQiyi International app or iQ.com.

The Sopranos prequel premieres on HBO GO

THE MANY Saints of Newark, the feature film prequel to David Chase’s groundbreaking, award-winning HBO drama series The Sopranos, premieres exclusively on HBO GO on Nov. 11. Viewers can also stream or download all six seasons of The Sopranos on HBO GO now. In The Many Saints of Newark, young Anthony Soprano is growing up in one of the most tumultuous eras in Newark’s history, becoming a man just as rival gangsters begin to rise up and challenge the all-powerful DiMeo crime family’s hold over the increasingly race-torn city. Caught up in the changing times is the uncle he idolizes, Dickie Moltisanti, who struggles to manage both his professional and personal responsibilities — and whose influence over his nephew will help make the impressionable teenager into the all-powerful mob boss we’ll later come to know as Tony Soprano. The Many Saints of Newark stars Alessandro Nivola, Leslie Odom, Jr., Jon Bernthal, Corey Stol, Michael Gandolfini, Billy Magnussen, Michela De Rossi, John Magaro, Ray Liotta, and Vera Farmiga. Alan Taylor, who won an Emmy for his directing work on The Sopranos, helmed the film from a screenplay by series creator David Chase and Lawrence Konner. One can subscribe to HBO GO online at http://www.hbogoasia.ph/ or the mobile app via the App Store or Play Store for ₱99.70/month. Or access HBO GO via Cignal, Globe and Skycable. HBO GO is also available on Android TV, Apple TV, LG TV and Samsung Smart TV.

Empowered women

November 5, 2021 | 12:01 am

NEXTGEN ORGANIZATION OF WOMEN CORPORATE DIRECTORS
The Philippine population is about 50-50% male to female and our workforce is also about that ratio. However, when it gets to the boardroom, especially for publicly listed companies, the number drops significantly to 17% female board directors. The question is: should we be happy with 17% when studies show that companies with women in their boards result in better growth and performance?

This led to the formation of NextGen Organization of Women Corporate Directors (NOWCD), a non-profit group of women directors in boards of publicly listed and private companies. The goal is to increase women in board leadership positions by providing education and tools that keep members engaged, informed and high performing as directors. NOWCD will provide valuable local and international networks, training and capacity building to equip its members for their board roles and responsibilities.

Incorporated in September 2021 with Boots Garcia as chair and Chit Juan as president, NOWCD is affiliated with the Women Corporate Directors Foundation (WCD), the world’s largest community of women corporate women directors. Currently there are 30 members (by invitation) including Baby Nuesa, Maricelle Narciso, Nina Aguas, Nenette Lavares, Laurie Westfall, Mariana Zobel de Ayala, Gina Lorenzana, Gianna Montinola, Ida Tiongson, Lydia Echauz, Gianna Montinola, Jasmine Oporto, and Filipina CEOs Sharon Dayoan, Marife Zamora, Carol Dominguez and Riza Mantaring, among others.

WOMEN BUSINESS COUNCIL
WomenBizPH has just completed its very successful I AM WOMAN book and webinar series and already, there’s the Women Rise Research Project led by President Mylene Abiva, Chiqui Escareal Go and Atty. Dick Baladad.

When the lockdown started in 2020, economic activities were practically at a standstill. With the financial challenges, many small businesses were not able to bounce back and recover from the impact of the lockdown. So to better grasp the needs of Filipino Women Entrepreneurs, Women Rise took a close look at sunrise industries, the factors for their success and challenges to progress, such as the use of financial technology and the impact of national and local business environments. The Women’s Business Council also connected the Women Rise Research Study respondents to Department of Trade and Industry (DTI) and Small Business Corp., the financial arm of DTI, to learn more about the BAYANIHAN Cares Financial Assistance program. Financial support will now be available for the participants to expand their business or pivot to a new industry through the initiative of WomenBizPH.

Women Rise’s recommendation is that capacity building activities will strengthen businesses agency and build resilience, such as:

• business resilience planning;

• evidence-based planning;

• understanding the current business environment, including the potential sunrise industries;

• financial technology; and

• adapting technology to boost their business.

FINEX WOMEN IN FINANCE
In line with Agriculture Secretary William Dar”s PLANT! PLANT! for food security, FINEX Women in Finance led by Chair Terrie Magleo and Director Tiffi Zulueta sponsored the “Weedibles and Weedicinals” webinar emceed by Nikki Tang and moderated by Edith Dychiao. Yes! Weeds are useful. Many are edible and medicinal so no Filipino should go hungry. Do you know the weed for anti-aging, a memory enhancer, strong in vitamins B1, B2 and B6 for memory and nerves and even a facial moisturizer all in one? What weed is against dengue, good against anxiety and also has a calming effect?

MAKATI GARDEN CLUB
Christmas is just around the corner. Makati Garden Club led by Chair Mindy Perez Rubio, President Ching Caluag, and board members Ninit Paterno, Emily Cruz, Ruby Roa, Sonya Garcia, and Sandra Fernandez are all busy preparing for the Holiday Event on Nov. 12-19 with 10% discount on Christmas items. Beautiful items from COZY IN NATURE by DARA are also available. Also, watch out for gardening workshops scheduled for next year!

Never a dull moment with these empowered women!

(The views expressed herein do not necessarily reflect the opinion of these institutions.)

Ms. Flor G. Tarriela was the first chairwoman of the Philippine National Bank. She was the first and only independent director/chairwoman in the commercial banking industry. She is a former Undersecretary of Finance and the first Filipina vice-president of Citibank N.A. She is a trustee of FINEX and an Institute of Corporate Directors fellow. A gardener and an environmentalist, she established Flor’s Garden in Antipolo, an ATI Accredited National Extension Service Provider and a DOT Accredited Agri Tourism Site.