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Rockwell Land to use P9B of retained earnings for capex

LISTED developer Rockwell Land Corp. announced on Monday that it will use P9 billion of its P15.3-billion retained earnings for capital expenditures (capex) for the period 2022-2023.

“At the regular meeting of the board of directors (BoD) of the corporation held today, the BoD approved the appropriation of P9 billion out of the total retained earnings of P15.3 billion as of Dec. 31, 2021, for capital expenditures covering the period 2022-2023,” the company told the stock exchange.

Rockwell Land and Juan D. Nepomuceno (JDN) Realty through their joint venture Rockwell Nepo Development Corp. broke ground in March for “The Manansala” project at Rockwell Center Nepo in Angeles, Pampanga.

The project is the first residential building in the mixed-use Rockwell Center Nepo.

Encompassing 4.5 hectares, Rockwell Center Nepo, Angeles is “poised to offer a similar experience as the flagship Rockwell Center in Makati City,” Rockwell Land said in a statement.

“The development is set to have three residential towers and the first Power Plant Mall outside of Metro Manila,” it added.

The Manansala, which is scheduled for turnover in 2025,  will have lifestyle amenities such as swimming pools, a function room, a fitness gym, and a multi-purpose court, as well as 78% open space.

“Through this joint venture between Rockwell Land and JDN Realty, Pampanga’s well-heeled market will find elevated lifestyle experiences delivered to them within their burgeoning region of Central Luzon,” the company said. — Arjay L. Balinbin

Gov’t fully awards T-bills amid strong demand

BW FILE PHOTO

THE GOVERNMENT made a full award of the Treasury bills (T-bills) it offered on Monday after several weeks of rejections and partial awards on the back of strong demand, despite expectations of rate hikes by the US Federal Reserve and Bangko Sentral ng Pilipinas (BSP) as inflation risks grow.

The Bureau of the Treasury (BTr) raised P15 billion as planned via the T-bills it auctioned off on Monday as total tenders reached P54.59 billion, almost three times as much as the initial offer.

Broken down, the BTr raised P5 billion as programmed via the 91-day T-bills at its auction on Monday as total tenders reached P29.350 billion. The average rate of the three-month debt dropped by 20.7 basis points (bps) to 1.380% from the 1.587% seen last week.

The government also raised P5 billion as planned from the 182-day securities as bids reached P14.17 billion. The average yield of the tenor went up by 17.4 bps to 1.781% from the 1.607% fetched at the previous auction.

Lastly, the BTr made a full P5-billion award of the 364-day T-bills as tenders reached P11.072 billion. The average rate of the one-year papers went up by 9.1 bps to 1.883% from the 1.792% fetched at the previous auction.

At the secondary market prior to the auction, the 91-, 182, and 364-day bills fetched rates at 1.3493%, 1.5347%, and 1.7434% respectively, based on the PHP Bloomberg Valuation Reference Rates published on the Philippine Dealing System’s website.

National Treasurer Rosalia V. de Leon in a Viber message to reporters said that the Treasury “finally” made a full award, with the rate of the 91-day tenor dropping amid heightened demand.

Ms. De Leon added that the higher rates for the 182- and 364-day tenors were due to a “higher inflation forecast this year” and as the BSP said it could start normalizing its pandemic-driven accommodative stance within the year, just like the Fed is doing.

A bond trader in a Viber message said investors want increased yields for longer tenors as they expect higher interest rates after six months. The trader added that investors are also looking ahead to March inflation data to be released on Tuesday for more cues.

BSP Governor Benjamin E. Diokno last week signaled the key policy rate could reach up to 2.75% by next year.

The central bank has kept its key rate untouched for the 11th straight meeting last month despite warning that its inflation target might be breached this year due to surging global oil prices brought by the Russia’s invasion of Ukraine.

At that meeting, the BSP said they now expect inflation to average 4.3% this year, above the 2-4% target and faster than the previous 3.7% estimate. The central bank also raised its inflation forecast for next year to 3.6% from 3.3%.

Analysts said headline inflation likely accelerated in March as the surge in global oil prices amid the Russia-Ukraine war caused faster increases in food and transport costs.

A BusinessWorld poll of 18 analysts yielded a median estimate of 4% for last month’s inflation, nearer the upper end of the central bank’s 3.3% to 4.1% projection.

If realized, this would be faster than the 3% in February and would match the upper end of the 2-4% target of the BSP. Still, it would be slower than the 4.5% seen a year earlier.

The Philippine Statistics Authority will release March inflation data today (April 5).

Central banks around the world have been tightening their monetary policies to temper inflation even in the face of risks to economic growth.

The Fed hiked its policy rates for the first time since 2018 by 25 bps last month to combat its surging inflation that reached a 40-year high. It also signaled more aggressive hikes in the coming meetings.

The BTr is planning to raise P200 billion from the domestic market in April, or P60 billion through T-bills and P140 billion via Treasury bonds.

The government borrows from local and external sources to help fund a budget deficit capped at 7.7% of gross domestic product this year. — Tobias Jared Tomas

UP, La Salle eye solo second in front of returning collegiate fans

UNIVERSITY of the Philippines Fighting Maroons — THE UAAP

By John Bryan Ulanday

UNBLEMISHED pacer Ateneo is determined to break away while University of the Philippines (UP) and La Salle hope to stay within striking distance when they test separate counterparts in front of the returning collegiate fans in the University Athletic Association of the Philippines (UAAP) Season 84 at the Mall of Asia Arena.

Spectators for the first time will be allowed to watch live in the venue starting on Tuesday, heating up the four-game UAAP wars nearing the end of the first round headlined by the Blue Eagles’ bid for a 5-0 start.

Ateneo, the three-time defending UAAP king, tests the mettle of National University (NU) featuring the duel of brothers Dave and Shaun Ildefonso at 7 p.m. for a chance to also make it 31 straight victories since 2018.

In the opener at 10 a.m., La Salle eyes a quick rebound after becoming the latest victim of Ateneo in a 74-57 defeat over the weekend while UP shoots for a fourth win in a row against Adamson at 1 p.m. Struggling teams FEU and UE also lock horns at 4 p.m.

Wins by the Green Archers and the Fighting Maroons would arrange a battle for solo second place on Friday in a bid to keep a stone’s throw away from Ateneo nearing the second round.

But more than the crucial duels, teams beam with happiness and excitement to play in front of roaring fans once again after a week of silence behind closed doors.

“We’re really excited about it after almost two years. Hopefully, the supporters will be able to pump up the team. They could be a big help and be our ‘Sixth Man’ there,” said La Salle mentor Derrick Pumaren.

“It’s great for the fans. They’re part of the atmosphere. They’re all part of what makes UAAP a great competition,” added Ateneo coach Tab Baldwin, noting the return of the Philippine crowd to “where they belong.”

The UAAP is staging its 84th Season under a bubble setup amid the pandemic but decided to allow fans, slowly but surely, under a limited capacity for now with an assurance of the student-athletes’ health and safety.

The premier collegiate league held its first four playdates without an in-game crowd including the Ateneo-La Salle rivalry last Saturday that could have attracted a full-house gate attendance.

An easy-going everyman, with vulnerability beneath the bravado: The best performances of Bruce Willis

BRUCE WILLIS in a scene from 1994’s Pulp Fiction. — IMDB.COM

THIS year was shaping up to be another busy one for Bruce Willis: three films released already, with another eight in post-production. Willis has become an astonishingly prolific actor, wisecracking his way through direct-to-video genre releases and joining that elite band of 1980s and 1990s multiplex superstars (Nicolas Cage, John Travolta, Sylvester Stallone) whose box office capital had flatlined.

Willis’s recent reviews were uniformly negative. “Phoning it in” became a byword for his post-2012 career choices, after his last critically successful films, Looper and Moonrise Kingdom. Hard Kill (2020), Apex (2021) and A Day to Die (2022) will not live long in the cultural memory.

Willis’s recent decision to step away from acting after a diagnosis of aphasia — a language disorder caused by damage in the area of the brain controlling language expression and comprehension — brings his career to a cruel end.

In his day, Willis could still surprise and tantalize. Terry Gilliam, who, in 12 Monkeys (1995), directed Willis in one of his most complex performances as the time traveler tasked with saving the world from a deadly virus, once described him as “a guy who was vulnerable, a man who’s lost, not the man in charge of the whole thing.”

It is this paradox — helplessness and resilience — that has defined Willis’s screen persona for four decades.

In 1988, one of Hollywood’s most laser-focused high concept pitches — NYPD cop saves hostages in a skyscraper on Christmas Eve — gave Willis the chance to hit the stratosphere.

As John McClane in Die Hard he almost single-handedly defined the wise-cracking action hero in the late 1980s, bringing an everyman quality to his roles that made up for in quips and smirks what he lacked in the hardened muscularity of a Jean-Claude van Damme or an Arnold Schwarzenegger.

Willis would return to the Die Hard franchise every few years. The law of diminishing returns inevitably kicked in, but the original played up Willis’s vulnerability beneath the bravado.

For a time, Willis could always be relied upon when heroism was wanted. Need someone to climb to the roof of a church and save two kids in the middle of a lightning storm? Wes Anderson, in the delightfully off-beat Moonrise Kingdom (2012), knew just the man.

Need someone to lead a crack team of oil drillers into space and blow up an asteroid headed for Earth? Michael Bay’s Armageddon (1998) — the high watermark of impending planetary disaster films — might not have worked as well were it not for Willis’s deadly seriousness at the center of this madcap plot.

(And I wonder if it was his idea to have his character introduced by hitting golf balls off an oil-rig and using a Greenpeace protest boat as target practice? It certainly fits the devil-may-care persona Willis honed over his time in Hollywood.)

In Country (1989) is Exhibit A when listing Willis’s bona fides as an actor.

Light years away from John McClane, and a tantalizing glimpse of what he was capable of when given a good script and a no-nonsense director, Willis plays a Kentucky Vietnam vet struggling with PTSD.

If this story has been told before, no matter: Willis reins in the mannerisms and the one-liners and fashions something far removed from anything he ever played subsequently: a sad, lonely survivor, withdrawn from the world, passively shuffling through life.

Willis’ role as Butch Coolidge, the ageing boxer in Quentin Tarantino’s epoch-defining neo-noir Pulp Fiction (1994) has perennially been overshadowed by the more showy turns by John Travolta and Samuel L. Jackson. But go back and watch the film again: Willis is both crumpled and brutal, exposed and ruthless.

Tarantino cast him deliberately: “Bruce has the look of a ’50s actor. I can’t think of any other star that has that look,” he said.

Willis’ scenes with Ving Rhames in the basement of the sleazy pawn shop sit at the heart of the film, while his interactions with Maria de Medeiros as his girlfriend Fabienne are gentle and blackly comic. It gave Willis’ career a shot of adrenaline, and showed others in Hollywood how star power (and a significant pay cut) could exist within American independent cinema.

We all know the twist to The Sixth Sense (1999) by now. But M. Night Shyamalan’s supernatural thriller should perhaps be better remembered for Willis’ measured and understated performance as Malcolm Crowe, a child psychologist whose patient can talk to the dead.

Malcolm’s assumptions are wrong in this film, just as ours are: one of the most memorable aspects of Willis’ performance is that, as an actor, he knows the twist from the start, but as the character he does not.

The film’s muted visual design and slow-burning pace is mirrored perfectly by the actor. Shyamalan’s camera zooms and tracks drop clues, but Willis never lets on. He would work again with Shyamalan in Unbreakable (2000), a clever twist on the superhero genre.

The aphasia diagnosis now allows us to reflect on his career choices differently. Indeed, as the Los Angeles Times reported, his co-workers have been expressing concerns about his work for many years.

It is a shame we shall not see directors experiment with Willis’ persona and deconstruct it in interesting ways like Michael Mann did with Tom Cruise in Collateral (2004) or Darren Aronofsky with Mickey Rourke in The Wrestler (2008).

It now seems likely Willis’ swansong will be the yet to be released Paradise City, a crime thriller set in Hawaii seeing him reunited with John Travolta nearly 30 years after Pulp Fiction. Let’s see if that self-aware, easy-going, cool vibe remains intact.

 

Ben McCann is an Associate Professor of French Studies at the University of Adelaide.

Globe expects P10.5-B gain from current data center; new data center deal sealed

GLOBE TELECOM, Inc. on Monday said it expects a pre-tax gain of around P10.5 billion from its current data center.

The company also announced that it recently sealed its data center joint venture partnership with ST Telemedia Global Data Centres (STT GDC) and Ayala Corp. (AC).

“Globe will recognize a pre-tax gain of around P10.5 billion, coming from the partial monetization of its current data center business coupled with the revaluation of the carrying value of Globe’s retained interest,” the company said in a disclosure to the stock exchange.

Globe said its partnership with AC and STT GDC, a data center provider headquartered in Singapore, marks its “serious entry” into the growing data center space.

They hope to accelerate expansion efforts and innovation “in order to better serve their enterprise clients and expand their product portfolio to grab a larger share of the growing market opportunity.”

“More importantly, all three companies are aligned in their environmental, social and governance aspirations,” Globe added.

Global hyperscalers may need facilities in the country because “local hosting” is a “key requirement” to address the “strong demand” for cloud services, data analytics and consulting company GlobalData said in a recent statement.

It noted that many Philippine businesses have expressed intention to migrate workloads to the cloud, propelling the country’s cloud market to $2.8 billion by 2025 from $1.8 billion in 2020.

“Under the agreement, both STT GDC and AC shall subscribe to new shares in KarmanEdge, Inc., a 100% owned subsidiary of Globe that will house the carved-out data center business,” Globe said.

“The capital infusion by the new partners will result in a post-money valuation in the range of $350 million. Post execution of the share subscription agreement, Globe will remain the largest shareholder with a 50% ownership, followed by STT GDC with 40% and AC taking up the balance,” it added.

Globe also noted that it will receive proceeds of $100 million from the transaction with the remaining capital injected to be utilized by the business for future expansion and growth.

Globe Telecom shares closed 0.87% lower at P2,498 apiece on Monday. — Arjay L. Balinbin

Quasi-banks’ 2021 bad loan ratio worsens to 9.9%

NONPERFORMING LOANS (NPL) held by quasi-banks reached P14.081 billion as of end-2021, resulting in an NPL ratio of 9.9%, based on data from the Bangko Sentral ng Pilipinas (BSP).

These bad loans increased by 4.1% from the P13.523 billion booked as of end-2020. The NPL ratio inched up from the 9.6% seen a year earlier, but was lower than the 10.3% as of end-September.

Meanwhile, the industry’s gross loan portfolio rose by 0.7% to P141.976 billion as of end-2021 from P140.948 billion a year earlier.

Nonperforming assets (NPAs), which include real and other properties acquired, increased by 2.9% to P15.432 billion as of December 2021 from P15.004 billion a year prior.

Restructured loans held by the industry amounted to P2.106 billion in 2021, higher by 67% from the P1.26 billion seen as of end-December 2020.

Quasi-banks beefed up their loan loss reserves, which reached P5.646 billion at the end of last year. This climbed by 27.5% from the P4.43 billion logged at end-2020.

As of end-2021, quasi-banks’ loan loss reserves were equivalent to 4% of their portfolio, up from 3.1% a year earlier. With this, the NPL coverage ratio improved to 40.1% from 32.8%.

Meanwhile, quasi-banks’ allowance on NPAs rose by a quarter to P5.816 billion from P4.637 billion.

This brought the NPA coverage ratio to 37.7% from 30.9%.

BSP-supervised financial institutions with quasi-banking functions include financing companies and investment houses. — Luz Wendy T. Noble

POC lifts 90-day suspension of PATAFA and the persona non grata tag on Philip Juico

PATAFA President Philip Ella Juico. — PHILIPPINE STAR FILE PHOTO

THERE is now peace on the Philippine sports front now.

The Philippine Olympic Committee (POC) has withdrawn its 90-day suspension on the Philippine Athletics Track and Field Association (PATAFA) and the persona non grata tag on the latter’s president Philip Ella Juico during its emergency executive board meeting on Monday.

It both came in the aftermath of Mr. Juico and the PATAFA board and Asian pole vault record-holder Ernest John “EJ” Obiena smoking the peace pipe after months of conflict.

“The Executive Board of the POC fulfilled its gentlemanly pronouncement and has lifted the two resolutions rendered by the POC on the PATAFA,” said POC President Abraham Tolentino.

“The lifting of the resolutions hinged on the successful mediation between pole-vaulter EJ Obiena and the PATAFA,” he added.

After mending fences following the mediation initiated by Philippine Sports Commission chairman William Ramirez, PATAFA has reinstated Mr. Obiena into the national team.

As a result, the World No. 5 was endorsed to international meets like the Hanoi Southeast Asian Games set on May 12 to 23 and the World Championships scheduled on July 15 to 24 in Eugene, Oregon in the United States.

“As projected, there were no objections and the motions of lifting were to be considered unanimous,” said the congressman from Tagaytay. “It is therefore with great relief to announce that the POC hereby lifts the resolution declaring Mr. Juico as persona non grata and also the resolution suspending PATAFA as member of the POC,” he added.

With the lifting of both sanctions, Mr. Tolentino said Mr. Juico and PATAFA could resume their active status with the POC.

“As I have maintained even before, there are no losers but only winners. The main winner being the Filipino athlete,” he said. — Joey Villar

Entertainment News (04/05/22)

Viu tops premium VOD service list

PCCW’s leading pan-regional OTT video streaming service Viu is the number one premium video on demand (VOD) platform in terms of the number of Monthly Average Users (MAUs) in Greater Southeast Asia, following the latest Media Partners Asia (MPA) AMPD Research report for Q4 2021, released on March 28. The report says that Viu’s MAUs is once again ahead of other major streaming platforms in Greater Southeast Asia and continued to be the highest for all quarters of 2021. The platform also ranked second in both paid subscribers and premium video streaming minutes amongst major video streaming platforms in Greater Southeast Asia in Q4 2021. Compared to 2020, the top 10 Viu Original titles showed growth of over 94% in video views and an increase of over 200% in video minutes. This helped drive subscriptions by 58% from 5.3 million in 2020, to 8.4 million in 2021.

Daily YouTube series tackles moving on

ACTRESS Maris Racal attempts to mend a broken heart with the help of an online app and her fake boyfriend Carlo Aquino in the romantic-comedy series How to Move On in 30 Days. As ABS-CBN’s first YouTube exclusive daily series, it follows Jen (Racal), a vlogger in her 20s who suddenly gets dumped by her long-time boyfriend Jake (Albie Casiño). Struggling to cope with the break-up, she gets drunk and goes viral on social media after causing a scene. To help Jen move on, her best friends convince her to download an app that will give her a step-by-step guide and useful tips that will help her move on within 30 days. Directed by Benedict Mique and Roderick Lindayag, the series also stars John Lapus, John Arcilla, Sherry Lara, Phoemela Baranda, Poppert Bernadas, Hanie Jarrar, Elyson De Dios, Rans Rifol, and James Bello. How to Move On in 30 Days streams from Mondays to Fridays on ABS-CBN Entertainment’s YouTube channel.

Harry Styles releases new single

GRAMMY Award-winning artist Harry Styles has released his new single and video “As It Was.” The track is the lead single from his new album Harry’s House, to be released May 20 on Columbia Records. The music video for “As It Was,” shot last month in London, finds Styles collaborating with Ukrainian Grammy Award-nominated director Tanu Muino. Harry’s House is Styles’ third solo studio album and his first music release since 2019’s Fine Line. The new album has 13 tracks written by Styles alongside frequent collaborators Kid Harpoon, Tyler Johnson, and Mitch Rowland.  Harry’s House is available for pre-order at all physical and digital retailers globally.

Megawide eyeing to revive NAIA rehab proposal in next administration

NINOY Aquino International Airport (NAIA) check-in counters. — BW FILE PHOTO

MEGAWIDE Construction Corp. is ready to revive its proposal to rehabilitate the Ninoy Aquino International Airport (NAIA) in the next administration, the company’s executive director said.

“It depends on the appetite of the [new] administration. We have a good proposal. We have a very good project,” Megawide Executive Director for Infrastructure Development Manuel Louie B. Ferrer told reporters at the Mactan–Cebu International Airport last week.

“If the new administration is interested, why not? The proposal is ready. We never closed our doors,” he added.

After the Manila International Airport Authority board rejected Megawide and its foreign partner GMR Infrastructure Ltd.’s appeal in 2021 to overturn the revocation of its original proponent status for the NAIA rehabilitation project, the company shifted its focus to local government unit projects.

Cebu2World Development, Inc. (C2W), a subsidiary of Megawide, has substantially completed the first phase of the P5.5-billion Carbon Market Redevelopment project in Cebu City, which will be launched on April 17.

The project is a 50-year joint venture with the Cebu City government. It covers the modernization of the 100-year-old Carbon public market as well as the infrastructure development of the entire district.

Under the contract, Cebu City will receive an annual guaranteed payment of P50 million with 10% escalation every five years.

The second phase of the project will be a mixed-use development.

“We have serious plans already for a land port project here in Cebu. It’s in Carbon. We’ll have a water taxi; when you get off, there’s an integrated terminal exchange which will connect you to different modes of land transportation,” Mr. Ferrer said. — Arjay L. Balinbin

Baguio moves to avert urban decay with stricter permits

A FENCE separates a cluster of residential structures from the Irisan Eco-park, a former dumpsite that was recently developed by the Baguio City government into a public open space. — BAGUIO CITY PIO

BAGUIO has started implementing stricter screening rules for business and building permits to address the mountain city’s problems brought about by rapid urbanization over the last three decades.

“We have to know the state of our city now so we can plan forward,” City Planning and Development Coordinator Donna R. Tabangin said in a streamed briefing posted on Saturday in response to complaints over delays in permit applications.

Ms. Tabangin said the city, one of the most popular tourist destinations in northern Philippines, has been “in the red” in terms of solid waste, forest cover, road network, and water supply, among other aspects of urban management.

She was citing a 2019 study by the National Economic and Development Authority, which warned that Baguio City is headed for “irreversible urban decay” by 2043 if no steps are taken to mitigate the problems.

“Urban decay means the city will give up on us, the city cannot sustain our activities,” Ms. Tabangin said. 

“Without corrections, we will reach that irreversible urban decay by 2043… or even earlier, we don’t know how nature will get back at us.”

Based on a recent audit conducted by the local government, there are 51,000 buildings of different sizes in the city with a land area of 57.5 square kilometers.

The urban planning official said 80% or about 40,000 of these structures were constructed without a building permit from the local government.

In late February, Mayor Benjamin B. Magalong announced that the city government is assessing the capacity ceiling that it will impose on daily visitor arrivals as coronavirus restrictions are lifted as well as a long-term policy.   

“To determine the threshold for tourists, we are now monitoring and looking at how far we can go in terms of the number of tourists to be allowed vis-a-vis the traffic situation, crowd movement and capacity and our ability to still implement physical distancing and other protocols,” he said.

The city government said the tourist capacity evaluation will also serve as “springboard for more concrete actions to achieve sustainable tourism where other negative effects of over-tourism like destruction of the environment, culture and quality of life of the people are also addressed.”

Baguio, dubbed as the summer capital of the Philippines, had a population of 366,358 as of the 2020 government census, up 45% from the 2000 headcount. — Marifi S. Jara

BankCom net income improves in 2021

NEWLY-LISTED Bank of Commerce (BankCom) recorded a higher net profit in 2021 as its interest earnings improved.

The lender, an affiliate of San Miguel Corp., booked a seven-year high net income of P1.2 billion last year, it said in a filing with the local bourse. This is 53% higher than the P784 million it posted in 2020.

BankCom’s core income rose, driven by its net interest income that rose 6% year on year.

Meanwhile, the lender’s non-interest income amounted to P826 million, backed by a 19% growth in earnings from service charges and fees, as well as commissions and gains on the sale of acquired assets.

The bank’s assets jumped 17% to P199.7 billion at end-2021 from a year earlier, driven by increased investment securities and a 4% growth in loans.

BankCom last month raised P3.36 billion from its initial public offering.

The bank’s shares, which started trading on Thursday, closed unchanged at P12.22 apiece on Monday. — LWTN

Mapua battles San Beda for a share of NCAA lead

TEAM MAPUA CARDINALS — NCAA/GMA

By Joey Villar

MAPUA eyes to join the big guns — defending champion Letran and last year’s runner-up San Beda — at the helm as it tackles San Sebastian College (SSC) on Tuesday in the 97th National Collegiate Athletic Association (NCAA) basketball tournament at the La Salle Greenhills Gym in Mandaluyong.

The Cardinals threaded the proverbial eye of the needle by edging the Emilio Aguinaldo College (EAC) Generals, 73-67, last March 27 and the Jose Rizal University Bombers, 59-56, on Friday to remain one of the three unbeaten teams in the league.

Another victory in their 12 p.m. duel with the Stags would keep it unscathed while reclaiming a share of No. 1 with the Knights and the Lions, who each have won three straight.

Mapua skipper Warren Bonifacio, who was instrumental in the two triumphs, is hoping to keep the momentum going.

“We need to keep on working hard and believing in ourselves,” said Mr. Bonifacio.

But expect another dogfight as Mapua is clashing with an equally dangerous San Sebastian College (SSC), which turned back University of Perpetual Help, 63-58, on Friday for its first win in two outings.

The Stags are hoping to bring their best defensive effort again.

“Our team is a defense-minded team. We’ll try to win games with our defense,” said SSC coach Egay Macaraya.

Also coming off victories were St. Benilde and EAC, which clashes in the second game at 3 p.m.

The Blazers bested the Arellano University Chiefs, 76-71, on Saturday to improve to 2-1 while the Generals eked out a 70-69 win over the Lyceum of the Philippines University the same day.