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Songs of the North: new songwriting fest focuses on Northern Luzon talent

TO foster a better understanding of Northern Luzon culture and identity, AmiananPop Music, Inc. has launched a songwriting festival, the finals of which will take place online on Dec.  4.

Following in the footsteps of the Visayan Pop Music Festival (Vispop) and Mindanao Popular Music Festival (MinPop), the new AmiananPop Songwriting Festival 2021 puts a spotlight on musicians and songwriters from the Ilocos, Cordillera, and Cagayan regions, as well as non-Tagalog speaking areas in Central Luzon.

The songwriting festival is the first project of AmiananPop Music, Inc., a non-stock, non-profit organization.

THE COMPETITION

“Amianan” is an Ilocano term which means “north.” Through AmiananPop Songwriting Festival 2021, artists from the North are encouraged to write, record, and produce songs in their own languages.

“Every language and/or dialect is unique, and so are the stories and nuances that come with it, and that is why this is the ultimate goal of the movement, to create a community of storytellers that will represent the ‘now’ generation of Northern singer/songwriters,” AmiananPop co-founder and chairman Davey Langit said in a statement.

The songwriting tilt uses the tagline Sikamimet!, which is an Ilocano for “It’s our turn.”

The competition is meant to bring modern regional pop music to the forefront of mainstream consciousness by making sure that the songs are well-produced and can compete on a global level.

“All the finalists have written and arranged songs, and the melodies are great. How do we bridge the gap? We make sure that the songs are well-produced, so that when people not familiar with the language hear them, they will be encouraged to look for the translation of all songs,” Ebe Dancel, pop rock musician (formerly the lead singer of the band Sugarfree), songwriter, and co-founder and president of AmiananPop said during the online press conference on Oct. 15.

THE FINALISTS

From 58 submissions, the entries were narrowed to 10, who will be competing for the grand prize in December.

The 10 finalists are: “Sungbat” by Angelic Mateo; “Urayen Ka” by Harold Lumandaz; “Bisikleta” by Jomabel Trapse; “Laineng Onan Aro” by Fernan Castro Estrada (composer) and Melchor Orpilla (lyricist); “Pudno Nga Ayat”  by Ryan Madrid (composer) and Kimberly Collado (lyricist); “Agka Pamaga” by Ruth Lee Resuello; “Anto Kasi Ngaran Tu Man” by Ruth Lee Resuello; “Napacurug Nga Aya” by Rivah-Anne and Remedios Singson; “Arapaap” by Red Gumayagay; and “Lab Story” by Patrick Visto.

The selection of the finalists was made by Messrs. Langit and Dancel, along with foundation board members National Artist for Music Ryan Cayabyab, singer-songwriters Noel Cabangon and Gary Granada, Ma. Cristina Joy Balajadia, musical director Melvin Morallos, Christopher Donaal, and singer Agat Morallos.

The finalists were selected based on musicality, lyrics, creativity, and new sound. Mr. Langit, who is himself a singer-songwriter and instrumentalist, noted that the chosen songs have modern arrangements and strong melodies.

The Grand Champion of AmiananPop will win P100,000; the 1st runner up with get P50,000; 2nd runner up gets P25,000; 3rd runner up gets P15,000; and the 4th runner up gets P10,00. The remaining five will receive consolation prizes.

AmiananPop is also looking at digital platforms on which to release the songs.

“A songwriting competition is the best way to bring out these talents. Since we have this, this might encourage other songwriters… This is a good platform to have their music heard and encourage them to write more,” said Mr. Cabangon, who is a co-founder and board member of AmiananPop.

“Our dream is not just to make them available but hopefully promote them,” he said.

For more information, visit https://www.facebook.com/AmiananPop/. — Michelle Anne P. Soliman

Gov’t makes full award of T-bills

BUREAU OF THE TREASURY FACEBOOK PAGE

The government made a full award of the Treasury bills (T-bills) it auctioned off on Monday on stable demand as investors continue to prefer to park their funds in short-term papers amid inflation fears.

The Bureau of the Treasury (BTr) raised P15 billion as planned via the T-bills it auctioned off on Monday as total tenders reached P34,721 billion, more than double the initial offer but lower than the P36.088 billion in bids logged in the previous auction.

Broken down, the BTr raised P5 billion as planned via the 91-day debt papers from P9.3 billion in bids. The three-month T-bills fetched an average rate of 1.119%, up by 0.6 basis point (bp) from the 1.113% seen at last week’s offering.

The BTr also borrowed P5 billion as programmed from the 182-day securities it offered on Monday as bids reached P14.201 billion. The average rate of the six-month T-bills slipped 0.3 bp to 1.387% from 1.39% a week ago.

Lastly, the government made a full P5-billion award of the 364-day T-bills as the tenor attracted tenders worth P11.22 billion. The average yield of the one-year instruments stood at 1.606%, up by 0.2 bp from the 1.604% fetched last week.

National Treasurer Rosalia V. de Leon said in a Viber message to reporters after the auction that rates moved sideways on the back of good demand for the short-term papers due to their limited supply.

The BTr is only offering P15 billion in T-bills weekly.

Meanwhile, a bond trader in a Viber message noted that Monday’s auction result was “nothing new” as the rates fetched reflect the bids are client-driven.

“We expect it to remain the same moving forward,” the trader said.

A second trader said T-bill yields moved sideways from the previous auction “supporting the bear steepening trend of the GS (government securities) yield curve due to rising inflationary expectations.”

“Global oil prices continued to hover at their highs, while domestically, we continue to observe nine consecutive weeks of oil price hikes,” the second trader added.

Global oil prices climbed on Monday amid tight supply and strong fuel demand in the United States and other economies rebounding from the effects of the pandemic, with US crude hitting a seven-year high, Reuters reported on Monday.

Brent crude rose 0.83% to $86.24 a barrel, while US crude rose 0.80% to $84.51.

At the secondary market, the 91- 182- and 364-day T-bills were quoted at 1.2296%, 1.4582% and 1.6104%, respectively, before the auction, based on the PHL Bloomberg Valuation Reference Rates published on the Philippine Dealing System’s website.

On Tuesday, the BTr will offer P35 billion in reissued seven-year Treasury bonds (T-bonds) with a remaining life of six years and nine months.

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

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

Ayala Land subsidiary expands Cavite Technopark

AYALALAND Logistics Holdings Corp. (ALLHC) recently unveiled the third phase of its industrial park in Naic, Cavite.

Cavite Technopark was originally launched in 2015 with 118 hectares, and now covers 166 hectares.

“Cavite Technopark aims to put Naic on the map as another key growth center in South Luzon. As the industrial estate develops, we not only pave the way for the rise of more light and medium, non-polluting enterprises, but also continue energizing environments and generating more employment opportunities for Caviteños,” Patrick C. Avila, ALLHC head of industrial parks and real estate logistics, said in a statement.

While the first phase caters to companies registered with the Philippine Economic Zone Authority (PEZA), the third phase is for non-PEZA registered industrial locators.

ALLHC, a subsidiary of Ayala Land, Inc., is targeting to complete Cavite Technopark Phase 3 by the second quarter of 2023.

The company expects on-going infrastructure projects to improve the industrial park’s accessibility and connectivity. These projects include the Cavite-Laguna Expressway (CALAX), the Manila-Cavite Expressway (CAVITEX) extension, the Cavite-Tagaytay-Batangas Expressway (CTBEX), and the Bataan-Cavite Interlink Bridge.

Last January, ALLHC broke ground for the second phase of its ALogis Naic ready-built facilities within Cavite Technopark. The project adds 16,000 square meters (sq.m.) of gross leasable area to the existing 13,000 sq.m. area.

Revenue from marked fuel tops P305 billion

DUTIES AND TAXES collected from marked fuel products totaled P305.79 billion as of Oct. 22, dating back to the launch of the program in 2019, the Department of Finance (DoF) said.

The volume of fuel on which the taxes were collected was 31.22 billion liters starting from Sept. 4, 2019.

Revenue generated includes P276 billion in Customs duties from September 2019 to Oct. 21 this year, along with P29.786 billion in excise taxes between December 2019 and July 2021.

Around 73.32% of the marked fuel volume was in Luzon, with 21.15% in Mindanao and 5.52% in the Visayas.

Diesel accounted for 60.93% of the volume and gasoline represented 38.54%. The rest was from kerosene.

The program aims to deter fuel smuggling by injecting a special dye into fuel products to signify tax compliance. Absence of the dye is deemed evidence that the fuel was smuggled.

The government in September last year began collecting a fuel marking fee of P0.06884 per liter, inclusive of value-added tax on all manufactured, refined or imported petroleum products.

Revenue foregone due to fuel smuggling was between P20 billion and P40 billion a year, the DoF said. — Jenina P. Ibañez

House committee approves barangay microfinancing bill

A HOUSE COMMITTEE approved Monday a bill that proposes to establish a microfinance cooperative for barangays to help community members fund their entrepreneurial ventures.

In a hearing, the House Committee on Micro, Small and Medium Enterprise Development approved an unnumbered substitute bill and committee report to House Bill 7968 filed by Bataan Rep. Geraldine B. Roman, which if passed will become the Barangay Microfinance Cooperative Act.

If signed into law, the measure will require barangay microfinance cooperatives (BMCs) to register with the Cooperative Development Authority (CDA) and to make distributions of up to P3 million from income to its members.

The bill requires certificates of accreditation issued by the CDA to be subject to minimal requirements with no fees collected and need to be processed within 30 calendar days upon submission of complete documents. The certificate will be effective for five years and can be renewed.

Income generated from operations of the BMC will be exempt from any tax, subject to compliance with reporting requirements to various government agencies. Failure to comply would lead to the suspension of their registration for up to one year.

BMCs will also be exempt from the Minimum Wage Law provided that all employees are entitled to government benefits given to regular employees.

Under the measure, barangay officials cannot be elected as officers of the BMC.

Funding for the proposed law will come from the annual budget of the CDA, with additional funding to be provided from revenue generated from government-licensed gambling and lotteries.

Any additional funding burden will be shared equally among regulators, operators, and licensors such as the Philippine Amusement and Gaming Corp. and Philippine Charity Sweepstakes Office and will be made available five years after the pandemic has been formally declared to have ceased in the country.

Misamis Oriental Rep. Christian S. Unabia, chairman of the technical working group that prepared the substitute bill, said the five-year provision was inserted following input from the funding agencies that their revenue is needed for measures deemed vital during the pandemic, such as the implementation of the Universal Health Care Law.

Ms. Roman said current financing laws do not provide an adequate and accessible system for barangays, leaving potential entrepreneurs little resort to financing except from usurers. — Russell Louis C. Ku

Alec Baldwin was aiming at camera when gun discharged — affidavit

Alec Baldwin in Live from New York! (2015)

SANTA FE, N.M. — Alec Baldwin was drawing a revolver across his body and pointing it at a camera during rehearsal on the set of Rust when the weapon fired and struck the cinematographer in the chest, according to an affidavit released on Sunday.

The affidavit provided additional details about Thursday’s accidental shooting in New Mexico that killed 42-year-old Halyna Hutchins and wounded director Joel Souza. Mr. Baldwin had been handed the prop gun and told it was unloaded, authorities in Santa Fe have said in court documents.

“Joel stated that they had Alec sitting in a pew in a church building setting, and he was practicing a cross draw. Joel said he was looking over the shoulder of (Ms. Hutchins), when he heard what sounded like a whip and then loud pop,” the affidavit read.

Ms. Hutchins was shot in the chest area, the document said.

“Joel then vaguely remembers (Ms. Hutchins) complaining about her stomach and grabbing her midsection. Joel also said (Ms. Hutchins) began to stumble backwards and she was assisted to the ground,” the affidavit adds.

Ms. Hutchins said she could not feel her legs, Reid Russel, a cameraman who was standing next to her at the time of the shooting, told officials.

A distraught Mr. Baldwin, 63, was photographed on Saturday outside a hotel in Santa Fe embracing and talking with Matt Hutchins, the husband of Halyna Hutchins, and their nine-year-old son. In a statement read to a candlelight vigil on Saturday, Mr. Hutchins called his wife’s death “an enormous loss.”

No one has been charged in the fatal incident during a rehearsal on Thursday at the Bonanza Creek Ranch outside Santa Fe as the sheriff’s office continues its investigation.

Multiple media and social media reports have raised concerns about safety protocols on the set of the low-budget movie. Both Mr. Souza and Mr. Russel described a walk-out by a camera crew before the accident.

“Reid stated that the camera crew was having issues with production involving payment and housing,” the affidavit reads, adding that Mr. Russel had said six individuals had walked out.

Serge Svetnoy, chief electrician for Rust, said in a Facebook post on Sunday that he had held Ms. Hutchins in his arms while she was dying and blamed “negligence and unprofessionalism” for her death.

Celebrity website TMZ.com, citing unidentified sources connected to the production, said the gun handed to Mr. Baldwin had previously been used by crew members for target practice off-set, using real bullets.

Reuters could not verify the report and police in Santa Fe did not respond to inquiries on Sunday.

According to the Los Angeles Times, more than a week ago Mr. Baldwin’s stunt double accidentally fired two rounds from a prop firearm after being told it was “cold,” an industry term meaning a weapon is not loaded with ammunition, including blanks.

Rust Movie Productions said last week that although they “were not made aware of any official complaints concerning weapon or prop safety on set, we will be conducting an internal review of our procedures while production is shut down.”

According to court documents, the prop gun was handed to Mr. Baldwin by the film’s assistant director, Dave Halls, who has more than 20 years’ experience in the business.

Mr. Halls did not respond to requests for comment on Sunday. Also involved in the sheriff’s probe is the movie’s chief armorer, Hannah Gutierrez. She could not be reached for comment. —  Reuters

Court acquits GMA execs accused by ABS-CBN of copyright infringement

LISTED broadcast company GMA Network, Inc. announced on Monday that a Quezon City regional trial court had acquitted its two executives of copyright infringement charges filed by ABS-CBN Corp.

“The Quezon City Regional Trial Court (RTC) Branch 93 acquitted Grace Dela Peña-Reyes and John Oliver T. Manalastas, who were then GMA Network’s news operations head and news program manager, respectively,” the media company said in an e-mailed statement.

ABS-CBN filed a copyright infringement complaint against GMA in 2004 for the latter’s coverage of the homecoming of overseas worker and hostage victim Angelo dela Cruz that year.

“ABS-CBN allowed Reuters Television Service (Reuters) to air the footages it had taken earlier under a special embargo agreement,” the Court of Appeals said in its summary, as cited by the Supreme Court in a 2015 decision, where ABS-CBN’s petition to sue Ms. Dela Peña-Reyes and Mr. Manalastas was granted.

GMA said the complaint stemmed from the “alleged unauthorized and illegal use and broadcast of ABS-CBN’s footage.”

“In the Sept. 29, 2021 decision penned by Presiding Judge Arthur O. Malabaguio, the court sided with Dela Peña-Reyes and Manalastas, citing ‘the failure of the prosecution to prove their guilt beyond reasonable doubt,’” GMA said.

“GMA’s use of the said footage was done under a valid subscription agreement with Reuters and CNN, which allows it to air and re-broadcast these video feeds,” GMA also said, citing Ms. Dela Peña-Reyes and Mr. Manalastas.

ABS-CBN was sought for comment through its head of corporate communications. — Arjay L. Balinbin

SMDC holds live-selling events

SM DEVELOPMENT Corp. (SMDC) is now holding online live selling events for its ready-for-occupancy (RFO) units, tapping celebrities such as Sarah Geronimo-Guidicelli and Alex Gonzaga to entice new customers.

In a statement, SMDC said customers can go on a virtual tour of its residential communities on its Facebook and YouTube channels.

“Say Mine to Your Dream Condo — a RFO digital selling event, which will be aired every weekend of October and November, allows home hunters to tour SMDC properties, as well as score amazing deals for their new SMDC unit,” the developer said.

The live-selling show features five developments — Trees Residences (Novaliches, Quezon City), Air Residences (Makati), South Residences (Las Piñas), Grass Residences (Quezon City), and Fame Residences (Mandaluyong).

DMCI Homes unveils new features in QC project

DMCI PROJECT DEVELOPERS, Inc. (DMCI Homes) said it is introducing new features in its new condominium development along Aurora Boulevard, Quezon City.

The residential arm of listed DMCI Holdings, Inc. said for The Oriana, customers may choose a unit with a daybed, an alternative to units with balcony that it usually offers.

“Units with daybed are ideal for those who intend to use the dynamic piece of furniture as an extension of their bedroom. Aside from maximizing the living space, the daybed concept creates an illusion of protrusions in The Oriana’s facade, providing some variety to the texture and profile in the building design,” DMCI Homes said in a statement.

Units at the Oriana’s North Tower will be ready for occupancy by April 2026.

The Oriana will also have a garbage chute feature; provision for split-type air-conditioning unit; a flexible coworking space; among others.

It will also have a Sky Bridge that will connect the two towers, so residents can share roof-deck amenities. There are also plans to have a community shuttle service for residents.

BDO’s net income down 10.6% in Q3

BW FILE PHOTO

BDO Unibank, Inc. recorded a lower net profit in the third quarter due to increased expenses and as its net interest income slipped amid lower rates.

The bank’s net earnings in the July to September period went down by 10.6% to P11.033 billion from P12.346 billion a year earlier, based on its quarterly financial report released on Monday.

This brought BDO’s net income for the first nine months to P32.484 billion, jumping 95.7% from the P16.598 billion logged in the same period in 2020. The bank said in a statement that its profit for the period was back to its pre-pandemic level on the back of its “resilient business franchise and normalized provisions.”

Return on average common equity improved to 10.72% as of end-September from 5.97% a year earlier. Return on assets also rose to 1.26% from 0.68%.

BDO’s net interest income slipped by 0.96% to P33.108 billion in the third quarter from P33.43 billion in the same period a year ago, its financial statement showed.

The bank attributed the drop to the decline in lending rates as well as the cap on credit card fees. Net interest margin stood at 4.05% as of end-September from 4.36% a year earlier.

Interest income on loans and other receivables dropped by 8.18% to P31.192 billion in the third quarter from P33.972 billion a year earlier.

However, this was partially offset by its interest earnings from trading and investment securities, which improved by 31% to P5.067 billion from P3.86 billion.

Meanwhile, BDO’s non-interest income in the July to September period increased by 20% to P14.778 billion from P12.332 billion. This was backed by higher commission fees, foreign exchange gains, and insurance premiums, which offset the bank’s net loss from trading.

On the other hand, operating expenses rose 7% year on year to P29.914 billion in the third quarter from P27.951 billion, driven by higher compensation and occupancy expenses as well as the increase in costs related to its insurance business.

“The bank sustained investments in its IT/digital infrastructure and expanded its digital capabilities to further elevate customer experience and raise productivity,” BDO said.

The bank set aside P3.659 billion for impairment losses in the third quarter, surging by 162% from the P1.392 billion a year ago. However, as of end-September, these provisions were 56% lower year on year at P10.44 billion from P23.826 billion.

Loans stood at P2.365 trillion as of end-September, with customer credit starting to pick up, BDO said. Its gross nonperforming loan (NPL) ratio was at 3.1% and its NPL coverage ratio was at 101% in the same period.

On the funding side, total deposits reached P2.734 trillion as of end-September. BDO said its current account, savings account deposits rose 14% year on year, making up 85% of the total.

The bank’s capital base stood at P422.3 billion as of September, with its common equity Tier 1 well above the regulatory requirement at 13.8%. Capital adequacy ratio was also higher than the regulatory requirement at 14.87%, up from 14.34% a year prior, amid increased capital that outpaced growth in risk-weighted assets.

BDO has over 1,500 branches and 4,400 automated teller machines nationwide.

The Sy-led lender’s shares went up by P1 or 0.78% to close at P129 apiece on Monday. — Luz Wendy T. Noble

Competition body ‘not notified’ of Udenna-SPEx deal

THE Philippine Competition Commission (PCC) on Monday said it was not notified of the deal between a unit of Udenna Corp. and Shell Philippines Exploration B.V. (SPEx), which holds a 45% stake in the Malampaya deepwater gas-to-power project.

“In Udenna’s transaction to take over controlling stake in Malampaya from Shell this year, this was not notified to PCC due to the increase in notification threshold to P50 billion under the Bayanihan II,” PCC Chair Arsenio M. Balisacan said in an emailed statement on Monday.

However, the PCC said it was notified of the deal between another Udenna unit and Chevron Malampaya LLC, which earlier sold its 45% stake in the offshore Palawan project.

In May this year, Shell Petroleum N.V said that it had signed with Udenna unit Malampaya Energy XP Pte. Ltd. for the sale of its 100% shareholding in SPEx, which holds a 45% operating interest in Service Contract (SC 38) that includes the Malampaya gas field.

The deal — valued at a base consideration of $380 million plus additional payments of up to $80 million — is in line with group’s upstream portfolio transition. The transaction’s effective date started on Jan. 1, 2021.

The other firms with interest in SC 38 are Udenna unit UC38 LLC with 45%; and state-led Philippine National Oil Co. Exploration Corp. (PNOC-EC) with 10%. UC38 acquired its stake in March last year from Chevron.

Mr. Balisacan added that the body also only looks at the competition side of transactions and defers other aspects, such as firms’ capability to operate, to sector regulators.

As such, he said the PCC “found no competition issue” in the transaction of Udenna to buy all the shares of Chevron as “Udenna was not engaged in the natural gas business.”

The statement came after Senate energy committee chair, Senator Sherwin T. Gatchalian, held that the Energy department’s approval of the deal between Udenna and Chevron was “defective” and is therefore “invalid.”

In the Senate energy committee’s budget hearing on Thursday, Mr. Gatchalian again questioned the said deal between Udenna and Chevron as under Presidential Decree 87, sale transactions involving oil exploration require prior approval from the government, which in this case is the DoE.

The DoE had earlier claimed that it was not informed of the transaction and that it did need to approve the agreement as it was an agreement between two private companies.

However, during the hearing on Thursday, Energy Secretary Alfonso G. Cusi said the DoE did approve the sale through a “farm-in process,” but Mr. Gatchalian said the new process used was not stated in any of the documents submitted by the DoE on the Malampaya buyout.

The Malampaya gas field covers an area of about 830 square kilometers. It provides up to 20% of the Philippines’ energy requirements and reduces its oil imports. — Bianca Angelica D. Añago

2GO Travel says 5 destinations grant easier entry to fully vaccinated passengers

2GO Group, Inc.’s 2GO Travel said the cities of Bacolod, Butuan, Cagayan de Oro, Iloilo, and the province of Cebu are now granting entry to fully vaccinated travelers without the need for reverse transcription-polymerase chain reaction (RT-PCR) tests.

“Fully vaccinated passengers bound for Bacolod, Butuan, Cagayan de Oro, and Iloilo can easily apply for their travel coordination permit via S-PaSS,” 2GO Travel said in a statement e-mailed to reporters recently.

S-PaSS is a travel management system developed by the Department of Science and Technology.

“Meanwhile, all passengers are welcome to Cebu province by simply presenting a medical certificate issued within 24 hours before arrival,” 2GO Travel added.

It also launched a P99 promo inclusive of 50-kilogram baggage allowance and free unlimited rebooking.

2GO Travel announced recently that it was offering a “free room upgrade” to fully vaccinated individuals.

“[2GO believes] that the key to local tourism recovery is for us to achieve herd immunity by getting vaccinated,” it said in an advisory.

2GO Travel is 2GO Group’s brand for its passage business. — Arjay L. Balinbin

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