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Ovialand to invest P850M in project

OVIALAND Inc. will develop a new project in San Pablo, Laguna. — COMPANY HANDOUT

OVIALAND, INC. has teamed up with Japan’s Kyushu Yaesu Co. Ltd. for the development of a residential project in San Pablo, Laguna.

In a statement, Ovialand said it will invest P850 million in Santevi, which will initially cover 10 hectares and offer 810 house-and-lot packages.

This is Ovialand’s second joint venture with Kyushu Yaesu, a wholly owned subsidiary of Saibu Gas Holdings Co. Ltd., after the Caliya project in Candelaria, Quezon.

“We are looking forward to expanding our market share in the South Luzon region given the potential for growth. According to the Bangko Sentral ng Pilipinas, South Luzon comprises 33% of the national GDP and holds 25% of the total housing demand in the country,” Pammy Olivares-Vital, Ovialand president, said in a statement.

Santevi is Ovialand’s third housing development project in San Pablo, after Sannera and Savana.

“Ovialand has seen sustained customer demand from its developments in San Pablo and as a result, we were encouraged to pursue the development of Santevi to reach more customers who are looking for a house that provides the best value for their money,” Ms. Vital said. — Cathy Rose A. Garcia

South Park creators sign massive new $900-million deal with ViacomCBS

A STILL from the episode 10 of South Park — SOUTHPARKSTUDIOS.COM/

THE CREATORS of South Park have signed a new deal with ViacomCBS, Inc. that will pay them more than $900 million over the next six years, one of the richest deals in TV history.

Trey Parker and Matt Stone will use the money to make new episodes of South Park for Viacom’s Comedy Central network and to create several spinoff movies for the company’s Paramount+ streaming service, the parties said Thursday. Their first project under the new deal will be a movie set in the world of South Park that will debut some time before the end of the year.

The deal with Mr. Parker and Mr. Stone is the clearest sign yet of ViacomCBS’s growing commitment to Paramount+. The streaming service trails the likes of Netflix and Disney+, but has added millions of subscribers since it rebranded in March. ViacomCBS is looking to the addition of South Park movies to accelerate its growth. The series remains the most popular TV show on Comedy Central.

Chris McCarthy, president and chief executive officer of the MTV Entertainment Group, approached Mr. Parker and Mr. Stone about extending their deal with Comedy Central and getting some South Park programming that would be exclusive to Paramount+. The company’s current strategy is to use its biggest hits on cable to lure customers to its streaming services. Earlier this year, Mr. McCarthy signed a new deal with Taylor Sheridan, the creator of the hit cable show Yellowstone, to create a spinoff show that will stream on Paramount+.

At the end of June, ViacomCBS had more than 42 million subscribers across its streaming services, which include Paramount+, BET+, and Showtime.

As giant media and technology companies compete in the streaming wars, the value of franchises like South Park has soared to record heights. Few, if any, production teams have managed to capitalize on the changes in the home entertainment landscape better than Mr. Parker and Mr. Stone, who own 50% of all online rights to the show.

Their new deal, which runs through 2027, covers six more cycles of South Park and includes 14 made-for-streaming movies.

“We did a South Park movie in 1999, and we’ve never done another one because the show has been so satisfying,” Mr. Stone said in an interview from his home in New York. “Now we’re older, and the idea of what streaming movies can be is pretty promising.”

When Mr. Parker and Mr. Stone first created South Park based on a short film they made in college, they were nervous that nobody would watch — or, alternately, that they’d be run out of town due to its outlandish humor. But the show, which debuted in 1997, was an instant hit, delivering millions of viewers and putting Comedy Central on the map. By the third season, they had stopped getting any notes from the network on how to improve it. “We do whatever we want, and they are pretty supportive of it,” Mr. Stone said. “We’re the luckiest guys in TV in that way.”

South Park has now been on the air for 24 years, making it one of the longest-running series in TV history, outliving every program on Comedy Central except for The Daily Show. Along the way, Mr. Parker and Mr. Stone have maintained the quality of the series, not to mention their sanity, in part, by sticking to a schedule. They only make between six to 10 episodes a year. Each season is produced over the course of a few months in Los Angeles.

The onset of the pandemic upended their routine. Last year, Mr. Parker and Mr. Stone didn’t produce a new season of South Park. They did manage to produce a pair of specials, which inspired them to think through some bigger ideas for South Park. They hadn’t made a movie since 2004’s Team America: World Police. But what if they made a bunch of longer-form South Park episodes?

Mr. Stone is reluctant to use the phrase “cinematic universe,” a term worn thin by Marvel and its many imitators. But, in many ways, that is what Mr. Parker and Mr. Stone are now creating. The coming Paramount+ movies will expand on the existing world of South Park and introduce new concepts and characters.

Both men have always seen themselves as part independent filmmakers, part entrepreneurs. Early on, they were quick to recognize the power of the internet. While negotiating a new deal with Viacom in 2007, they both proposed creating a website where fans could watch recent episodes of the show for free. Mr. Stone credits the resulting site, South Park Studios, with keeping their young fan base engaged while also curbing piracy.

As part of that arrangement, negotiated by their long-time lawyer Kevin Morris, Mr. Parker and Mr. Stone secured a 50% stake in all future online deals for the show. Their stake, once worth pennies, is the basis of Park Country, a company which they own outright, that is now valued at more than $1 billion.

Parker and Stone eventually shut down South Park Studios when Viacom licensed the streaming rights for the show to Hulu in an $87.5-million deal. Hulu later reupped that agreement for about $110 million.

In 2018, the streaming rights to South Park once again came up for auction. At the time, Viacom was in the process of merging with CBS, which operated All Access — the streaming service that would later be rebranded as Paramount+. HBO Max swooped in and outbid All Access, offering $500 million over five years.

The deal with HBO Max sent one of Viacom’s most popular shows to one of its fiercest streaming competitors. It also increased the value of the South Park library to a level few shows ever reach.

“That was one of the better things that happened in our financial life,” Mr. Stone said. “We took it to market and established its worth. That’s rarely done right now.”

The team at Park County is now focused on their next big deal overseas. Over the years, Viacom has licensed the rights to South Park to different streaming services in different territories — a hodgepodge of arrangements that currently generates more than $10 million a year in sales. Park County’s chief financial officer, Keith Pizzi, is aiming to consolidate everything in one massive overall deal for the international streaming rights.

Earlier this year, Stone and Parker established a $600 million credit facility with HPS Investment Partners LLC that appraised their library at close to $1 billion, according to people familiar with the terms of the deal. In addition to the movies for Paramount+, Parker and Stone are going to use that money to invest in a wide range of creative endeavors, including a documentary series, a weed company and a 3D video game that is set in the world of South Park.

Mr. Stone and Mr. Parker are also currently building a team of “deep fake artists,” who specialize in creating media in which an image that looks like a real person is inserted into an existing video clip. They have spent the past couple of years working on a “deep fake” movie, one of several films they have in development, including a musical. South Park pays the bills and then some,” Mr. Stone said. “Trey and I have used that to pay for other stuff we want to do.”

Stone said the long-term plan is to sell their stake in South Park, as well as other assets like The Book of Mormon. In the current frenzied market, such a package would likely fetch a high price. Recently, Reese Witherspoon sold a majority stake in her production company Hello Sunshine to a new firm run by former top Walt Disney Co. executives in a deal valued at about $900 million — without any assets on par with South Park changing hands.

“We’re proud of the fact that years ago we said, ‘Let’s put the show online and build that audience,’” Mr. Stone said. “What a great time to be an independent dealer. This is something we’ve worked on a long time, and life did come our way.” — Bloomberg

BSP unlikely to hike rates, cut RRR anytime soon

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THE BANGKO SENTRAL ng Pilipinas will likely keep interest rates and banks’ reserve requirement steady in the meantime. — BW FILE PHOTO

THE CENTRAL BANK will not raise rates or cut banks’ reserve requirement ratio (RRR) anytime soon as the economy’s recovery is still in its “early stages,” Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said on Monday.

Mr. Diokno said ahead of the Monetary Board’s policy review on Thursday that it is not the right time to make any adjustments to benchmark interest rates or lenders’ reserve ratios as the economy still needs support from easy policy.

“We need to sustain it [economic recovery] and raising interest rates at this time is not the right thing to do, it is counterproductive,” he said in an ABS-CBN News Channel interview on Monday.

“We will continue our monetary policy accommodation as long as necessary to ensure that the economic recovery is sustainable and strong,” Mr. Diokno added.

Reducing banks’ RRR is “not in the agenda” at Thursday’s policy meeting, he added, following hints from the central bank last week that it remains open to cutting these ratios.

“While I’m committed to reduce the RRR to single digit before the end of my term, which is in 2023, cutting it now is untimely and not justified,” Mr. Diokno said.

“There’s still a lot of liquidity in the system. If there comes a time when the financial system needs more liquidity or some sort of strong loan demand, then that’s the time when we might consider…,” he added.

A BusinessWorld poll last week showed 18 analysts unanimously expect the BSP to keep benchmark interest rates unchanged at their record lows at Thursday’s meeting as the spread of the Delta variant of the coronavirus disease 2019 (COVID-19) threatens the economic outlook.

The BSP slashed benchmark rates by a cumulative 200 basis points (bps) last year. Borrowing costs have been at record lows since the Monetary Board’s last adjustment, which was a 25-bp cut in November.

Aside from keeping rates low, the central bank has also provided stimulus by freeing up liquidity via RRR cuts and other easing measures, which have released some P2 trillion into the financial system, equivalent to about 12% of the country’s gross domestic product (GDP).

Despite this, bank lending has been contracting since December, declining by 2% in June due to cautiousness among lenders amid the uncertain economic environment.

The reserve requirement for big banks is currently at 12%, still one of the highest in the region. The central bank last cut big banks’ RRR in April 2020 with a 200-bp reduction.

In July 2020, it likewise slashed the reserve requirements of thrift and rural banks by 100 bps to 3% and 2%, respectively.

ING Bank N.V. Manila Senior Economist Nicholas Antonio T. Mapa said due to the excess liquidity in the financial system, funds that will be released by another RRR cut are unlikely to find their way into the real economy.

“An additional P100 billion freed up by a potential RRR reduction would simply return to the BSP’s overnight facilities and not likely be utilized to fund fresh loans,” Mr. Mapa said.

He noted that bulk of the liquidity released via the central bank’s easing measures are “simply returned” to the BSP — parked in its term deposit facility and short-term securities — as banks are hesitant to lend due to the risky business environment.

“The BSP has done its part to signal to banks and realign the risk reward spectrum for banks to consider, but at the end of the day, it will be up to banks to deploy these funds in productive sectors of society,” Mr. Mapa added.

The economy shrank by 3.9% in the first quarter, a softer contraction versus the 4.2% previously reported, based on revised data released by the Philippine Statistics Authority (PSA) on Monday.

The PSA will report second-quarter GDP data on Tuesday. A separate BusinessWorld poll of 20 analysts yielded a median estimate of a 10.6% growth print for the April to June period, mainly due to base effects from the 17% contraction a year earlier. If realized, this would mark the country’s exit from recession following five straight quarters of economic contraction.

The government targets 6-7% GDP growth this year. — LWTN

PDEx clears Aboitiz firm’s P10-billion debt securities

THE Philippine Dealing & Exchange Corp. (PDEx) has given the green light for Aboitiz Equity Ventures, Inc. (AEV) to list the third tranche of its retail bonds worth P10 billion, including oversubscriptions, the listed holdings firm said on Monday.

In a regulatory filing, AEV said the third tranche is part of its shelf-registered bonds, which are cumulatively valued at P30 billion.

“The PDEx approval paves way for the secondary market trading of bonds,” the company said.

The bonds will be issued in two series, namely: Series “E” with a fixed interest of 3.2977% per year maturing in 2025, and Series “F” with a fixed interest of 4.1018% per annum maturing in 2028.

The Aboitiz-led firm earlier said that the offer for the third tranche of its debt securities consisted of a principal amount of P5 billion, with an oversubscription option of up to P5 billion.

Last month, the corporate regulator cleared AEV’s third tranche by issuing the firm a certificate of permit to offer the securities for sale.

In a disclosure filed in June, the company said the proceeds from this tranche will be used to redeem some of its outstanding bonds, finance the future requirements of Aboitiz InfraCapital, Inc., and for other general corporate purposes.

Local debt watcher Philippine Rating Services Corp. issued a “PRS Aaa” rating for the bonds, noting that the securities have a minimal credit risk and that the firm has an “extremely strong” capacity to meet its financial commitments.

AEV holds investments in power, banking and financial services, food, infrastructure, and land.

The firm previously reported a 159% year-on-year rise in its second-quarter consolidated net income to P4.9 billion amid higher contributions from its business segments.

AEV shares at the local bourse inched down by 1.36% or 55 centavos to close at P40 apiece on Monday. — Angelica Y. Yang

RCR properties cater to evolving needs of workforce

RL COMMERCIAL REIT, Inc. (RCR) and its parent company Robinsons Land Corp. are confident that its office properties can accommodate the evolving needs of the workforce amid the pandemic.

RCR has a portfolio of 14 commercial real estate assets located in Metro Manila, Metro Cebu, Metro Davao, Naga, and Tarlac, with total gross leasable area of around 425,000 square meters. The main tenants are from the information technology-business process management sector, which is allowed to operate throughout the community quarantines.

RCR’s properties are equipped with hybrid walk-thru metal detectors with temperature scanners, copper films on high touch point surfaces, foot baths, and sanitizing stations within the building premises.

“As more people get vaccinated and economic bubbles are formed, we see employees return to office spaces partially or completely. I strongly believe this would be better for businesses in terms of data security and infrastructure. More importantly, we believe that it’s beneficial for the mental health and wellbeing of employees,” RCR President and CEO Jericho P. Go said in a statement.

RCR is planning to conduct a P26.67-billion initial public offering.

T-bill yields inch up as investors ask for higher returns

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THE GOVERNMENT made a full award of the Treasury bills (T-bills) it offered on Monday after rates ended mixed as investors sought higher returns amid continued uncertainty over the country’s outlook.

The Bureau of the Treasury (BTr) raised P15 billion as planned via its auction of T-bills on Monday as the offer was 3.7 times oversubscribed, with tenders reaching P54.855 billion.

The demand was also bigger than the P50.76 billion in bids recorded in the previous auction last week.

Broken down, the BTr borrowed P5 billion as planned via the 91-day papers from P17.2 billion in bids. The three-month T-bills fetched an average rate of 1.064%, 1.1 basis points (bps) higher than the 1.053% quoted for the tenor last week.

The Treasury also raised the programmed P5 billion via the 182-day T-bills after the tenor attracted demand worth P17.21 billion. The average rate of the six-month debt also inched up by 0.6 bp to 1.407% from 1.401% previously.

Lastly, the government made a full P5-billion award of the 364-day securities it offered on Monday as total tenders reached P20.445 billion. The one-year securities were quoted at an average rate of 1.625%, down by 0.7 bp from 1.632% seen a week ago.

Prior to the auction, the rates of the 91-, 182- and 364-day T-bills were at 1.111%, 1.396% and 1.642%, respectively, based on the PHL Bloomberg Valuation Reference Rates published on the Philippine Dealing System’s website.

A bond trader said investors asked for higher yields during Monday’s auction due to continued uncertainty, which resulted in an increase in the average rates of the 91- and 182-day T-bills.

Demand for government securities has remained high as the coronavirus disease 2019 (COVID-19) pandemic continues to cloud the country’s economic outlook and financial markets, causing investors to prefer parking their excess cash in safe-haven assets.

Metro Manila and its nearby provinces are under the strictest form of lockdown from Aug. 6-20 to help curb a surge in COVID-19 cases due to the more transmissible Delta variant.

The Health department on Friday said Delta cases had been detected in all 17 cities and one municipality in the capital region. It said 119 more people had been infected with the Delta variant, bringing the total to 450.

It also reported 9,671 new COVID-19 infections on Sunday, bringing the total to 1.65 million.

On Tuesday, the BTr will offer P35 billion in fresh seven-year Treasury bonds (T-bonds).

The Treasury is looking to raise P200 billion from the local market this month: P60 billion via weekly offers of T-bills and P140 billion from weekly auctions of T-bonds.

The government wants to borrow P3 trillion from domestic and external sources this year to help fund a budget deficit seen to hit 9.3% of gross domestic product. — BML

CODA breaks new ground for deaf movie theatergoers

IMDB.COM

LOS ANGELES —  Going to the movies isn’t much fun for deaf people. Screenings in theaters with captions are limited and the special glasses and equipment needed to read them are often broken or unavailable.

CODA, a coming-of-age story about the only hearing member of a deaf family, will change that when it is screened with open captions that need no special equipment in all US and UK movie theaters and showtimes, starting Friday.

“It couldn’t be more groundbreaking, (just) as the film is groundbreaking in support of the deaf community and the hard-of-hearing community,” said Marlee Matlin, who plays a deaf mother in the film. Ms. Matlin is the only deaf performer to ever win an Oscar, for best actress in Children of a Lesser God in 1987.

CODA, an acronym for child of deaf adults, won four awards at the Sundance Film Festival earlier this year. It also will be streamed with full subtitles in more than 36 languages on Apple TV+, starting Friday.

Apple worked with movie theater operators to ensure the film would be played everywhere, for deaf and hearing audiences alike, with the captions burned into the print in what is thought to be a first for a feature film release in theaters.

“It is historic. It is huge for all us,” said Daniel Durant, a deaf actor who plays son Leo. “This is a day we have waited to see for so many years.”

CODA tells the story of high school student Ruby who has grown up having to interpret for her deaf father, mother, and brother in situations ranging from doctor visits to their small fishing business. The family communicates with sign language, and all three of the deaf characters are played by deaf actors.

It follows Sound of Metal about a drummer who loses his hearing, which earned six Oscar nominations earlier this year, including for best picture.

Mr. Durant said while some scenes give the specific viewpoint of deaf people, the appeal of CODA is universal.

“Anyone who watches this can feel connected with it because everyone comes from a family, and every family goes through similar struggles —  kids growing up, what are they going to do in their future, becoming independent, maybe they’re moving away from their family,” he said.

Writer-director Sian Heder, who is hearing, learned American Sign Language for the project and wanted to ensure the film was accessible to everyone.

“Oftentimes I think deaf people are left out of the movie-going experience because of devices that don’t work and lack of devices in theaters,” Heder said.

The filmmakers hope the open caption screenings for CODA will persuade other studios to follow their example, and will encourage deaf people to try movie theaters again.

Heder recalled the emotional reaction of a deaf man at a recent screening with the open captions in Gloucester, Massachusetts, where the film was shot.

“He was, like, ‘I don’t go to the movies. I can’t wear those glasses. They make me nauseous. Half the time they don’t work so I’ve just stopped going to the theater.’ He hadn’t seen a movie in the theater in 10 years and he was very moved and excited.” — Reuters

Puregold income grows 17% to P4B despite sales decline

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PUREGOLD Price Club, Inc. posted a 17.3% profit growth in the first half of the year, generating a consolidated net income of P3.99 billion from last year’s P3.4 billion.

In a statement on Monday, the company said its net sales declined by 7.1% to P76.18 billion. Majority or 72% of sales were derived from its Puregold store network.

The company has so far opened 15 new organic stores out of the 30 to 40 Puregold store launches planned for the year.

Meanwhile, the company’s S&R Membership warehouse clubs and S&R New York Style Pizza stores accounted for 28% of its revenues.

Puregold said S&R is eyeing to open two more warehouse clubs in the second half of the year.

The company also has several digitalization efforts to keep in touch with its customers.

“Puregold’s innovative digitalization approach through our Puregold Mobile app, Puregold Channel, and our e-commerce website will enable us to connect seamlessly with our consumers during this COVID-19 (coronavirus disease 2019) pandemic and at the same time strengthens our customer loyalty,” Ferdinand Vincent P. Co, president of Puregold, said.

The listed company currently has 484 stores across the country, divided into 418 Puregold branches, 20 S&R membership shopping warehouses, and 46 S&R New York Style quick service restaurants.

Puregold stocks at the local bourse declined by 1.73% or 70 centavos on Monday, closing at P39.70 each. — Keren Concepcion G. Valmonte

Flexible workspace company partners with PHL resorts

KMC Solutions has partnered with several resorts in the Philippines as it offers new flexible workspace options to its members.

In a statement, KMC Solutions said it launched Flex By KMC, which would allow its staff, clients and members to work from hotels and resorts at discounted rates. The hotels include Bravo in Siargao, Hue Hotels and Resorts in Boracay, and Amorita Resort in Panglao island, Bohol.

“Flex is designed as an incentive for which KMC staff, but members and our staff leasing clients can also purchase it for their staff as a reward, so they can lounge by the beach, while still staying productive,” the company said, adding that rooms are equipped with a desk, chair, and good internet connection.

KMC Solutions has flexible workspaces in over 20 locations around Metro Manila, Cebu, Clark and Iloilo.

Outstanding but…

Eximius: Seize the Frontline is a FPS/RTS hybrid that focuses on squad-based combat. — PHOTO FROM SEIZETHEFRONTLINE.COM/

Video Game Review
Eximius: Seize the Frontline
Personal Computer via Steam

Outbreak: Endless Nightmares
Sony PlayStation 5/Nintendo Switch

Ghosts ‘n Goblins Resurrection
Sony PlayStation 4

Eximius: Seize the Frontline has humble origins, but also carries big dreams on its shoulders. Coming from bright minds at Malaysia-based Ammobox Studios, the game is one of stark ambition, seeking to combine the novel concepts of real-time-strategy (RTS) gameplay with first-person-shooter (FPS) mechanics in a manner that few others have tried before. True, titles like Natural Selection 2 do come to mind. Eximius: Seize the Frontline, however, goes far beyond the leanings of its predecessors. While it may bear the trappings of a modern military shooter, it makes for a brand-spanking-new, exciting way to experience both genres at the same time.

In Eximius: Seize the Frontline, there are two main classes to select in-game. You can work either as an officer on the ground or as the top commander aiming to lead the army to victory. The choices require inherently different approaches and interactions with the game, and dictate how you’ll be experiencing its mechanics firsthand. As an officer, it’s your job to do the gruntwork. With a gun in your hand, you’ll be ducking behind cover, moving from objective to objective, and shooting down whatever foes you come across, be they man, drone, or vehicle. It’s standard FPS fare, and while the gunplay is fairly mediocre, the good variety of weapons you have on hand combined with the punchy nature of their sounds makes for a decent fun time. The feel isn’t like that of any release in the Call of Duty or Battlefield series, but it does play great, especially when combined with the overall RTS mechanics.

In Eximius: Seize the Frontline, the officers lead the charge and the commander supports it. Officers are the ones who spearhead attacks into enemy territory, but the commander is the one who purchases upgrades, drops health packs for his soldiers, buys vehicles, and even assigns squads of friendly non-playable characters to support the attacks. This interaction with both classes brings up a highly tactical experience to the forefront, one that relies on communication as well as on skill to really shine. You’ll have assaults on defended positions while salvos of missiles drop to augment your charges. You’ll encounter heavy resistance from jet troopers and assault vehicles, and have to fend off upgraded players and grunts on your way to secure victory. It’s a fun, dynamic experience waiting to be discovered, and, when it all works, it works wonderfully.

Therein lies the problem in Eximius: Seize the Frontline, though. For all the potential that it carries, it’s held back by one main flaw: It has a low player count. A multiplayer-based game with only a small multiplayer community to back it up will have intrinsic issues, and while some games can manage, this one cannot. With its current population not even reaching triple digits, unfair match-making is to be expected. There simply aren’t enough people to play with, especially for newcomers, leading to a very difficult new player experience. This doesn’t mean that it’s a bad game. In fact, it has all the makings of a compelling one. Unfortunately, in its current state, it is hard-pressed to cope with issues like skill gaps between new players and veterans. And it doesn’t help that the tutorials are vague and high latency pops up — temporary hurdles, to be sure, but nonetheless difficult to get past.

Bottom line, Eximius: Seize the Frontline is nothing short of outstanding under the right set of conditions. Else, it has a handful of barriers to entry for those looking for a casual game to enjoy.

THE GOOD:

• Superb combination of RTS gameplay and FPS mechanics

• Surprisingly enjoyable combat, against both NPCs and other players

THE BAD:

• Very low player count, resulting in less than enjoyable gameplay experiences when matched with veterans

• High variances in latency

RATING: 7.5/10

POSTSCRIPT: “The soul is willing, but the body is weak” is how Outbreak: Endless Nightmares can best be described. As the brainchild of Drop Dead Studios, Outbreak is a game of lofty intentions, with aspirations of combining an old-school approach to survivor horror with the random nature of a roguelike game. Featuring a straightforward but understandable progression system, a decent selection of maps to explore, and all the quirks of classic survival horror gameplay, it really aims to highlight the nostalgia for those who wish for a return to the classic Resident Evil style of gameplay.

Creditably, Outbreak: Endless Nightmares does well to meet the aforementioned objective. The levels you can travel around in are, by nature, repetitive, albeit with unique themes. From an abandoned mansion to a ruined factory, you’re pretty much exploring the best a standard horror setting can offer. Each level archetype has its own loot table with its own levelled gear and rarity, with different types of traps to conquer, enemies to face, and puzzles to solve. These are all randomized as well, forcing you to ration the few supplies you can find along the way. While you can hoard items you wish to use while navigating the levels, you can hold only eight unique items in your limited inventory, forcing you to either drop the ones you don’t need or place them inside randomly generated item boxes. Progression through a given level is as simple as finding the exit door, with some levels being as short as five seconds should you be fortunate enough to spawn next to the exit door itself. Complete enough levels, and you earn the reward of either going home with whatever loot you scavenged or moving on to a more difficult set of levels with better rewards to claim.

Outbreak: Endless Nightmares is really just standard roguelike gameplay, wearing the mask of a survival horror game to keep you going. That said, it’s actually fairly entertaining, if somewhat cheesy. Levels are usually simple to clear, and the surface-level survival horror rationing gives the game a little depth when it comes to inventory management. Any permanent progress you can gain comes off in the form of better items to use, and of more varied levels to explore. And while it’s not deep, it keeps you interested, at the very least by the concepts it mashes together. After all, few games can lay claim to the title of rogue-like survival horror.

Admittedly, Outbreak: Endless Nightmares is far from perfect. For starters, it looks mediocre at best. Animation feels stiff and unwieldy, to the point that it alters depth perception; it makes you avoid melee weapons as it’s not able to properly convey their reach. Guns feel great to fire, but the comical blood-spatter effect combined with the damage output of your weapon being tied to its rarity and level can lead to some pretty absurd moments.

And then there are Outbreak: Endless Nightmares’ puzzles. Most of these come in the form of switches to activate or statues to push into place – not too hard to solve in and of themselves. It’s just too bad that environmental hazards don’t have a good tell if you’re going to be hitting them or not, causing you unnecessary frustration when you get hit by a laser that you’re absolutely sure shouldn’t be hitting you. Meanwhile, an occasional puzzle can be absurd in its simplicity, calling into question why Drop Dead Studios even bothered putting it there if all you needed to do was press a button to “solve” it. At the other end of the spectrum is the odd puzzle that just doesn’t work. It won’t be bad per se, but the setup makes it almost impossible to complete properly. It won’t feel difficult or challenging — just broken, broken and unfinished, and ultimately frustrating.

Outbreak: Endless Nightmares needs to be appreciated for its efforts to be unique and present hitherto-unseen concepts. It has a lot of content to play through, a lot of unlockables to peruse, and even some cooperative content for when you want to play with someone else. On the flipside, it can appear clunky and unfinished, and can test your patience. To be fair, Drop Dead Studios continues to listen to feedback and is bent on making requisite changes, perhaps even to the core design. Left unsaid through the course correction is the fact that it should have been far more polished upon release.

All told, Outbreak: Endless Nightmare is an ambitious indie title, the little game that dares try. When – if – it will succeed is the question.

THE GOOD:

* Decent amount of content to run through

* Fairly straightforward game design

* Coop-enabled to enjoy with others

THE BAD:

* Some puzzles and environmental hazards seem broken

* Content-heavy, but very light on depth, with shallow, surface-level mechanics

* Evidently limited options for randomization, likely leading you to seeing the same room layouts shortly after you start

RATING: 6/10

Ghosts ‘n Goblins has had a reputation for being a hard game, and is infamous for its high difficulty curve and punishing design. Considering what it stands for, no eyebrows were raised when Capcom opted to stick to its extremely punishing gameplay when it comes to its successor. In fact, the Japan-based developer stuck to a familiar story in presenting Ghosts ‘n Goblins Resurrection as knight Arthur’s quest to rescue his damsel in distress from the clutches of an evil demon. A missed opportunity to expand upon the source material’s premise? Perhaps. All things considered, however, it’s not really that much of a loss when the gameplay does the intellectual property proud and sticks the landing.

With seven brutal levels to play through and eight different weapons to wield, Ghosts ‘n Goblins Resurrection is the classic Ghosts ‘n Goblins experience cranked up to 11. Enemies continually spawn to harass you, invariably with a desperate vigor to take you down. You’ll trek through all the classic stages, from haunted graveyards to ruined castles, and fight a plethora of difficult foes and mini-bosses that stand in your way. It’s a tough experience, especially given the fact that Arthur’s constitution is far more fragile than his knightly stature would imply. It’s not an easy game by any means, and, given how aggressive the enemies are, it occasionally borders on being unfair. But that’s what makes it so engrossing. The seemingly insurmountable struggles make victories taste all the sweeter. And while you’ll die again, and again, and again, Ghosts ‘n Goblins Resurrection is all about learning patterns and being patient. Make that extremely patient. When you understand the proper balance between rushing forward and stopping, that’s when the game is at its finest.

Fear not, though, for while Ghosts ‘n Goblins Resurrection can be frustrating, it’s got some extra features that can give you a helping hand if you’re having trouble. For starters, there are four difficulty levels to choose from, giving you plenty of flexibility in how you want your experience to be – with the lower difficulty levels giving you extra hit points to help you get through the stage. The ability of a cooperative feature means you can team up with another player if you don’t feel confident you can finish a level on your own. Meanwhile, the game’s checkpoints are spaced just enough to not feel too frustrating. (If you ever feel the need to challenge yourself, the “Legend” difficulty will more than test your skills.)

All told, Ghosts ‘n Goblins Resurrection stands as the franchise’s best release, especially when combined with its stylized visual design. It’s brilliant side-scroller, one that will definitely test your mental fortitude AND your skill. In the aftermath of one of your myriad deaths in the game, you will find yourself asking if you’re ready for another challenge. No matter your decision, you’ll never forget your experience – no small feat for a game that uses the same formula of the 36-year-old original. Clearly, the best classics last. The spit and polish simply make it look prettier.

THE GOOD:

• The classic Ghosts ‘n Goblins experience at its finest

• Allows for more flexibility in how it can be enjoyed, with various difficulty modes and a coop feature to spice things up

• Striking new, stylized art that also helps in letting monsters stand out

THE BAD:

• Not much added content

• Can still be as frustrating as ever

• Depending on how skilled you are and what difficulty you choose, can have a short runtime

RATING: 9/10

THE LAST WORD: VNG Corp. is slated to release Cloud Song: Saga of Skywalker, which has players exploring a fantasy world while flying solo or with the help of friends. Boasting of a classic European animation style, it offers customizable characters of the Mage, Archer, Swordsman, Oracle, and Rogue classes for party members to choose, mix, and match.

Cloud Song: Saga of Skywalker includes a series of player-vs-player (PvP) and player-versus-environment (PvE) challenges for players to reap rewards. PvP interactions feature offline fights, guild wars, duels, and cross-server wars, where players can earn medals, resources, champion titles, exclusive frames, and access to different battlefields. Meahwile, PvE conflicts come by way of daily hurdles for players, with the boss-level battles leading to character upgrades.

Available throughout Southeast Asia, Cloud Song: Saga of Skywalker will be in the pre-registration phase until Aug. 18.

BanKo looking to develop more products, services for entrepreneurs

BPI DIRECT BanKo, Inc. has partnered with World Bank Group member International Finance Corp. (IFC) to expand its services and improve its credit scoring.

Bank of the Philippine Islands’ (BPI) microfinance arm BPI Direct BanKo said in a statement on Monday that it signed a memorandum of agreement with IFC, under which the latter will provide support to the former in improving and expanding its offerings for self-employed micro-entrepreneurs (SEMEs).

The partnership will also allow BPI Direct BanKo to tap IFC’s expertise for the digitalization of its current processes and services and to improve its credit scoring model.

The project is also backed by the governments of Australia and Japan, as well as the Women Entrepreneurs Finance Initiative.

“We trust that the technical expertise and global experience of IFC will help BPI Direct BanKo develop and implement relevant products and services that will benefit Filipino SEMEs in the short term and in the long run,” BPI Direct BanKo President Jerome B. Minglana said in the statement.

Mr. Minglana said the partnership will boost the bank’s digitalization and help promote financial inclusion.

The bank noted that small businesses are among those worst hit by the pandemic due to their reliance on domestic demand as well as their limited financing options.

“The challenges in gaining access to credit for microentrepreneurs and in granting credit for lenders like BanKo have been further exacerbated by the pandemic,” Mr. Minglana said.

BPI Direct BanKo aims to give SEMEs easier access to products and services via digitalized processes through the partnership with IFC.

“This will be part of a new loan growth strategy for BPI Direct BanKo that will not be highly dependent on the expansion of brick and mortar offices,” the lender said.

“These innovations and partnerships are expected to foster growth among Filipino SEMEs, reflecting our commitment to supporting the recovery of the MSME (micro, small and medium enterprises) market from the pandemic and consequently the nation as a whole,” Mr. Minglana added.

BPI Chief Risk Officer Marita Socorro D. Gayares last month said BPI Direct BanKo has provided credit to about 145,000 self-employed and microentrepreneurs since 2019.

Its listed parent BPI booked a net income of P6.8 billion in the second quarter, up by 28.8% from P5.375 billion a year earlier.

BPI’s shares closed at P83.15 apiece on Monday, up by 70 centavos or by 0.85% from its previous finish. — LWTN

Roxas Holdings cuts net loss to P159M as revenues rise

ROXAS Holdings, Inc. (RHI) posted a P159.43-million net loss attributable to parent firm equity holders for the April-to-June quarter due to challenges faced by the local sugar industry.

The listed sugar and ethanol producer said in a stock exchange disclosure on Monday that its net loss for the third quarter of its end-September fiscal year is an improvement over the earlier year’s P425.58-million losses on the back of higher revenues.

Pedro E. Roxas, RHI chairman, said that despite an increase in the volume of sugarcanes milled across sugar-producing regions, the sugar industry had to endure the effects of a prolonged La Niña phenomenon.

“We are also seeing a decline in the yield from sugarcanes, partly because of more water content diluting the sweetness of the canes,” Mr. Roxas said in the disclosure.

RHI’s revenues from contracts with customers reached P1.9 billion for the quarter, up 59.7% from the P1.19 billion it recorded last year, while operating expenses also rose 11.7% to P175.32 million from P156.97 million.

For the nine months to June of its fiscal year, RHI posted a 0.9% increase in its attributable net loss to P731.92 million against the P725.65-million net loss it had in the similar period in 2020.

Revenues from contracts with customers for the October-to-June period reached P3.79 billion, up 19.9% from P3.16 billion a year ago.

Operating expenses fell 3.1% to P481.18 million compared to P496.35 million incurred a year ago.

Meanwhile, RHI President and Chief Executive Officer Celso T. Dimarucut said the company started to implement actions aimed to solve factors causing volatility and higher costs in the industry.

“We have seen marked improvements in our ethanol unit, as a result of strategic and opportunistic shifts and flexibility in feedstock, to address production costs which have increased in recent years. This was made possible as RHI gradually regains its market share in canes from its competitors since it bolstered its cane acquisition master plan,” Mr. Dimarucut said in the disclosure.

“Likewise, other mid- and long-term capacity building plans for our sugar business are underway, to improve the bottom line of the group. We hope that, with these efforts, we can unlock the group’s core strengths amid changing conditions, and assure sustainable operations in the coming years,” he added.

Based on the Philippine Stock Exchange website, RHI shares were last traded on Aug. 6 and closed at P1.35 apiece. — Revin Mikhael D. Ochave