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Cebu Pacific sets 2022 capex at nearly P33 billion

CEBUPACIFICAIR.COM

BUDGET carrier Cebu Pacific, operated by Cebu Air, Inc., said on Wednesday that it had set a capital expenditure (capex) budget of P32.8 billion for 2022, mainly for fleet replacement.

“This year, Cebu Pacific will have seven NEO (new-engine-option plane) deliveries, replacing eight CEOs (current-engine-option planes), which will exit the fleet. Capex for the year totaled P32.8 billion, which was 100% financed via sale and leaseback,” Cebu Pacific Chief Executive Officer Lance Y. Gokongwei said during the company’s annual stockholders’ meeting on Wednesday.

The company ended 2021 with 74 aircraft, the same as in 2020. It received six new aircraft last year.

“While we remain conservative in our 2022 fleet growth, over the next five years, we will have 48 deliveries and 35 exits, ending 2026 with 87 aircraft,” Mr. Gokongwei said.

In its audited financial statement for 2021, Cebu Air said that its capex commitments, related primarily to the acquisition of aircraft fleet, were at P183.85 billion as of end-2021 and P154.14 billion as of end-2020.

At the same time, the airline expects its share in the domestic market to rise further to 62.4% in May due to increased demand and “resilience” of its financial position amid the pandemic.

“The resilience of our financial position throughout 2021 has enabled us not only to maintain our leadership in the domestic market, but also to grow well ahead of our competitors,” Mr. Gokongwei said.

“As of mid-April of 2022, our domestic market share posted at 60%, which is already well ahead of our full-year 2019 and 2021 domestic market shares, which were both at 53%. We continue to boost our domestic capacity and estimate that by the end of May, our capacity share will increase further to 62%,” he added.

Domestic bookings and flight frequencies to Cebu Pacific’s key destinations have “breached pre-pandemic level,” he noted.

“As of April 20, 2022, seven-day average bookings were at plus 29% versus the same period in 2019. Removing Holy Week seasonality, booking velocity was at plus 15% versus 2019.”

Mr. Gokongwei also said that the Alert Level 1 status paved the way for relaxed travel restrictions such as 100% passenger capacity, while doing away with health declaration and the S-PaSS travel management system, making contact tracing optional, and recommending coronavirus testing only for priority groups.

The budget carrier recently reported a net loss of P24.9 billion for 2021, widening from a loss of P22.2 billion a year earlier. It generated P15.7 billion in revenues in 2021, 30% below the 2020 level.

The decline in revenues was mostly driven by the 50% drop in passenger revenue to P6.3 billion last year from P12.6 billion in 2020, the airline said.

Cebu Air shares closed 6.05% lower at P45 apiece on Wednesday. — Arjay L. Balinbin

PAL ‘on track’ to fully restore pre-pandemic domestic flights

BW FILE PHOTO

FLAG carrier Philippine Airlines, Inc. (PAL) said on Wednesday that it is adding more domestic and international flights this month and is on track to get back to the number of domestic flights it had before the pandemic.

“We are on track to full restoration of pre-pandemic domestic flights. As to the full restoration of international flights, this will depend on the reopening of specific markets. So potentially, we should be back to 2019 levels — except for China market — by end of the year,” PAL Spokesperson Cielo C. Villaluna told BusinessWorld in a phone message.

On PAL’s flights in the first three months of the year, she said, “It was a slow and gradual increase as far as regular commercial flights are concerned.”

“But domestic and international repatriation flights, bayanihan flights, vaccine cargo flights, all cargo charters never stopped.”

The airline saw “revenge travel” kick in by March, the start of the summer season.

PAL reached 40% of pre-pandemic daily frequencies in the fourth quarter of 2021, Ms. Villaluna noted.

She said prior to the pandemic, PAL was operating an average of 300 flight legs daily or domestic and international inbound and outbound flights daily.

“Today, we have restored 80% of our pre-pandemic number of domestic flights and 60% of our pre-pandemic number of international flights. To be specific, 80% of our average 170 domestic flight legs daily and 60% of our average 130 international flight legs daily.”

“We will be increasing flights progressively as travel restrictions further ease. We look forward to reverting back to pre-pandemic levels in due time. Safety remains our top priority,” she added.

PAL Holdings, Inc., the listed operator of PAL, recorded a net income of P60.6 billion last year, turning around from a loss of P73.1 billion in 2020, primarily due to an increase in “other income” attributable to gain from debt settlement and condonation.

Its revenues for 2021 reached P58.7 billion, 6.2% higher than the P55.3 billion in 2020.

In April, PAL and the Singapore Tourism Board announced a partnership to encourage more Filipinos to visit Singapore.

PAL Holdings shares closed 1.61% lower at P6.10 apiece on Wednesday. — Arjay L. Balinbin

Refund cuts Meralco power rates in May

PHILIPPINE STAR/ RUSSELL PALMA

POWER users’ electricity bill in May is set to decrease by 12 centavos per kilowatt-hour (kWh) or around P24 for a typical household using 200 kWh, the country’s biggest utility firm said on Wednesday.

In a media release, Manila Electric Co. (Meralco) said the overall rate this month is down to P10.063 per kWh from P10.183 per kWh in April. Distribution-related refund has offset an increase in power generation charge, it said.

“The overall rate reduction was mainly due to the Energy Regulatory Commission’s (ERC) order to Meralco to refund a total of P7.8 billion,” the listed electricity distributor said.

The company said the refund is equivalent to P0.4669 per kWh for residential customers. The power seller’s customer count is around 7.46 million, of which 92% are residential users.

“This (refund) will appear as a separate line item in customers’ power bills,” it said.

This month’s rate adjustment translates to a P36 decrease in the power bill of residential customers using 300 kWh, while those consuming 400 kWh and 500 kWh can expect a decline of P48 and P60, respectively.

Ronald V. Valles, Meralco head of regulatory management, said: “As a highly regulated entity, Meralco’s rates are constantly being reviewed to make sure they are fair and reasonable.”

“The immediate implementation of the ERC’s order more than offset the impact of the increase of the generation charge this month, benefitting Meralco customers,” he added.

This month, the power generation charge is up by P0.3553 to P6.2277 per kWh from the P5.8724 per kWh in April.

Charges from power supply agreements (PSAs) rose by P0.8045, while those from independent power producers (IPPs) went down by P0.4319 per kWh.

Meralco said the price of Malampaya natural gas went up by 10% starting in the second quarter to reflect the surge in global crude oil prices.

It identified the power suppliers with pass-through adjustments for the offshore gas field’s fuel as First Gas Power Corp.’s Sta. Rita and San Lorenzo plants, and First NatGas Power Corp.’s San Gabriel plant. The plants accounted for 36% of Meralco’s supply in April.

Meralco added that the peso’s depreciation had an impact on the suppliers’ charges. It cited the increase in usage of more expensive liquid fuel after the Malampaya consortium’s continued failure to provide enough supply of natural gas.

It said the generation charge for May includes the second of three installments of the deferred generation costs for the March bill and the first of three installments for the deferred generation costs for the April bill. It placed the installments to be equivalent to an add-on of around P0.20 per kWh in the generation charge.

Charges from the wholesale electricity spot market (WESM) declined by P0.8664 per kWh with the lower demand in the Luzon power grid due to nonworking holidays and cooler temperature in April.

“PSAs, IPPs, and WESM accounted for 48%, 41%, and 11%, respectively, of Meralco’s energy requirement,” Meralco said.

Meanwhile, the transmission charge, taxes, and other charges for residential customers had a slight decrease of P0.0084 per kWh, it said, adding that the collection of P0.0025 per kWh for the universal environmental charge remains suspended as ordered by the ERC.

Meralco earns from distribution, supply, and metering charges, which have stayed unchanged since the reduction in July 2015.

Pass-through charges from power generation and transmission are paid to the suppliers and the grid system operator, respectively. Taxes, universal charges, and the feed-in tariff allowance are remitted to the government.

In the same media release, Meralco said that there were no major power interruptions in its service area during the May 9 national and local elections, which it attributed to “months-long preparations.”

“The distribution utility reported 35 isolated outage incidents, all of which were immediately addressed by field personnel that were strategically positioned across its franchise area,” it said.

It also called for more participants in the interruptible load program (ILP), or the voluntary, demand-side management scheme led by the Energy department. ILP taps businesses to collectively cut electricity drawn from the grid by using their own power generation sets during imminent power interruptions.

As of May 10, up to 121 companies with a combined de-loading capacity of 554 megawatts in Meralco’s franchise area have joined the program.

Meralco also called on consumers to practice energy efficiency methods amid the expected increase in power usage during the summer months.

Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls.

On Wednesday, Meralco shares fell by 2.86% or P9.80 to close at P333.20 each. — Victor V. Saulon

DMCI net profit surges on units’ robust results

DMCI Holdings, Inc. reported that its first-quarter net income surged by 164.9% to P11.26 billion from P4.25 billion year on year, driven by robust operating results of its coal, nickel and power businesses amid skyrocketing commodities and electricity prices.

“Semirara exceeded our expectations while DMCI Mining and DMCI Power both grew double-digits. But our construction and real estate businesses are showing signs of slowdown because of knock-on effects of the pandemic and Russia-Ukraine war,” DMCI Holdings Chairman and President Isidro A. Consunji said in a statement on Wednesday.

Consolidated core net income surged nearly three times to P11.26 billion from P4.07 billion, excluding a nonrecurring gain of P179 million last year mainly from the deferred tax re-measurement impact of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act on Maynilad Water Services, Inc.’s service concession asset and a P12-million gain on sale of land of DMCI Homes.

Of its businesses, Semirara Mining and Power Corp. (SMPC)’s net income contribution surged more than six times to P8.52 billion from P1.32 billion, on the back of higher coal production, shipment and average selling prices, and higher spot electricity sales at elevated prices.

DMCI Homes contributed P1.41 billion, lower by 7% from P1.52 billion, due to lower construction accomplishments, fewer new accounts that qualified for revenue recognition, and higher sales cancellations.

Net income contribution from DMCI Mining Corp. grew 20% from to P499 million from P415 million on higher nickel ore shipment and forex rates.

D.M. Consunji, Inc. recorded a 7% drop to P367 million from P393 million due to the absence of a one-time related party transaction for a joint venture infrastructure project.

Maynilad’s contribution rose by 11% to P319 million from P287 million on lower personnel, utilities and interest expenses.

DMCI Power contributed P132 million, a 12% upturn from P118 million, driven by higher generation and sales across all its service areas.

On Wednesday, DMCI Holdings shares ended lower by 0.61% or five centavos to finish at P8.15 at the stock exchange. — Luisa Maria Jacinta C. Jocson

Monde Nissin income down 13.5% as commodity prices rise

MONDE Nissin Corp. reported that its core net income attributable to shareholders declined 13.5% to P2.1 billion for the first quarter due to continuing commodity price increases.

Quarterly reported net income likewise decreased by 0.9% to P2.3 billion despite lower interest costs.

Consolidated revenues increased by 7.2% to P18.3 billion due to the strong performance of the Asia-Pacific branded food and beverage (APAC BFB) domestic business.

Core earnings before interest, taxes, depreciation, and amortization (EBITDA) declined by 9.9% to P3.6 billion due partly to the company’s continued strategic investments in brand and new product development during the quarter.

APAC BFB net sales for the first quarter increased by 8.6% to P14.5 billion due to the improving performance of the domestic business, which grew 10.5% to P13.7 billion on price increases and continued volume growth for the noodles, culinary, and packaged cake categories.

However, the international business declined 15.4% to P854 million due to shipping constraints during the quarter.

Monde Nissin’s meat alternative business, Quorn Foods, posted a 1.3% revenue decline on an organic basis as the UK grocery market remains in decline and as the country continues to experience challenging macroeconomic conditions.

“While we had a strong start to the year and remain optimistic about the continuation of the growth we are seeing, commodity inflation remains a concern for our APAC BFB business and it is something that we will proactively respond to as the year progresses,” Monde Nissin Chief Executive Officer Henry Soesanto said.

“We are working hard to continually improve our efficiency and being mindful of our consumers when price increases become warranted, striving to maintain our growth momentum and recovering margin where possible,” he added.

On the meat alternative business, he said although the retail environment remains challenging, “our market share continues to be stable.”

“Our food service segment is also showing sustained momentum as it posted its best-ever quarter. We will leverage on these encouraging signs and work towards overcoming the short-term challenge,” Mr. Soesanto said.

At the stock exchange, Monde Nissin shares dropped by 0.45% or P0.06 to P13.34 on Wednesday. — Luisa Maria Jacinta C. Jocson

Padios wins first Philippine gold in 31st SEA Games in pencak silat

MARY Francine Padios wins the Philippines’ first gold medal in the 31st Southeast Asian Games by ruling on Wednesday pencak silat’s women’s seni (artistic or form) tunggal single. —PHILIPPINE STAR/ RUSSEL PALMA

HANOI — Mary Francine Padios won the Philippines’ first gold medal in the 31st Southeast Asian (SEA) Games by ruling on Wednesday pencak silat’s women’s seni (artistic or form) tunggal single at the Bac Tu Lien Gymnasium.

Ms. Padios thus put the Philippines on the medals table Vietnam started to dominate on Wednesday, a day before this side of Asia celebrates its biennial multi-sport festival — proof that sports, and mankind for that matter, has started to champion its way over and above the pandemic that for more than two years stunted the entire world.

Ms. Padios, only 18, is now a guaranteed pride of her native Kalibo in Aklan. She improved on the silver she won in the Philippines 2019 edition, a feat she said inspired her to fulfill because of her dad Jerome’s misfortune just before Christmas.

“My dad has become my inspiration after he figured in a terrible car accident on her way home in Aklan just before Christmas,” said Ms. Padios, whose dad has fallen into a coma since. “He was so exhausted and drowsy from work he slept before the wheel and met the accident.”

“He’s been movitating me ever since,” said Ms. Padios, whose 9.960 score bested favorite Arum Sari of Indonesia who settled for silver with 9.945.

Ms. Padios’s gold medal kept the Philippine campaign rolling in these Games where she’s the reigning champion.

Helen Aclopen accounted for a silver medal in women’s — 48 kgs of kurash, which also produced bronze medals from Charlie Quelino and George Baclagan.

Vietnam is living up to expectations on its goal to snatch the overall title from the Philippines and has amassed a front-running haul of six gold, five silver and six bronze medals as of 3 p.m. (Hanoi time) on Wednesday.

Malaysia stayed in stride with its six-gold output but had less silver and bronze with one and four, respectively, followed by Indonesia (3-4-0 gold-silver-bronze), Singapore (1-3-3). and Thailand (1-2-3).

No other country in the 11-member SEA Games has won a gold so far.

Hotels looking forward to better times

THE Philippine Pavilion pavilion was designed by Budji Layug and Royal Pineda. — PHOTO FROM EXPO2020DUBAI.COM

HSMA launches 8th Virtus Award

SAYING that it is “time to snap out of the shackles of the ‘safe only’ discipline of the past years,” the Hotel Sales and Marketing Association (HSMA) is launching the 8th edition of its Virtus Awards, which honors outstanding sales and marketing professionals and institutions in the hotel industry.

Launched on April 28 at the Kingsford Hotel, nominations have been made open for candidates. The awards, slated for October of this year, will be the first to be held live after two years of the pandemic.

“It’s time to snap out of the shackles of the ‘safe only’ discipline of the past years and focus on better, livelier options that hotels and resorts can offer to families, gatherings for leisure and business,” Rose Libongco, Virtus Awards Chair, said. “HSMA will release the tension and tedious controls to serve new schemes, delights in pursuing fun, fantasy and new hopes to allow us to dream again,” she said.

The awards will honor the best Sales and Marketing Associate, Sales and Marketing Manager, and Sales and Marketing Leader. Meanwhile, the Institutional Award for Marketing Campaign looks for the best marketing campaign for the industry, taking into consideration the Campaign theme, objectives and content; implementation, results and returns on investment; and presentation.

In a speech during the event, Ms. Libongco said, “Walang kasing-sarap na makasama kayong muli. Hindi biro ang ating pinagdaanan ng mahigit na dalawang taon. (There is no greater pleasure than to see you all again. What we have gone through for the past two years has been no joke). We fought for health, life, and businesses and settled difficulties and differences and, yes, losses, with tenacity, resolve, poise and hope.

“Here is a turning point that is presented. We cannot afford not to take this chance to separate from the past, change the course and leap towards better and brighter,” she said.

REPORT FROM DUBAI
A highlight of the launch was the keynote speech of Assistant Secretary and concurrent OIC Undersecretary for Trade Promotions of the Philippine Department of Trade and Industry Rosvi Gaetos, who had just come back from Expo 2020 hosted by Dubai. Over 190 countries participated in the World Expo, including the Philippines. The event was held over six months, from Oct. 2021 to the end of March 2022.

The “constant, incessant movement of Filipinos all over the world up to this day” became the inspiration behind the Philippines’ presentation at the Expo, said Ms. Gaetos in a speech.

The Philippine Pavilion at Expo 2020 Dubai was named Bangkota (coral reef in Ancient Filipino). Explaining the theme, she said, “Like a coral reef where a single polyp can travel oceans, attach itself to other polyps, then grow into bigger corals; Filipinos travel and migrate, build vibrant communities anywhere they go, bringing with them their skills and talents, and contributing tremendously to the economies of countries where they settle.

“We had the biggest pavilion in the history of our participation in world expos, [and] it was the very first time that we had a self-built pavilion of such scope and magnitude where we had to built from desert, ground-up,” she said.

The pavilion was designed by Budji Layug+Royal Pineda, and measured 1,386 sqm. on a 3,163.25 sqm. lot.

“The Filipino community in the host country fully mobilized in the true spirit of bayanihan (mutual support in a community) to support the Philippine pavilion and drive up our final number to 1.4 million visitors at closing,” she reported. — J.L. Garcia

Philippines assured of silver in men’s beach handball

THE PHILIPPINES is assured of the silver medal in the 31st Southeast Asian men’s beach handball event, an improvement over its bronze medal finish in 2019. — VNA PHOTO/QUÝ TRUNG

VINH PHUC, Vietnam — As far as handball coach Joanna Franquelli is concerned, it’s a silver medal that glitters like gold. With one game to go, the Philippines is assured of the silver medal in the 31st Southeast Asian men’s beach handball event, an improvement over its bronze medal finish in 2019 when the country hosted the biennial meet in Subic.

“I am really proud of what the team has accomplished in two years that we were not able to train together because of the restrictions due to COVID-19 (coronavirus disease 2019), but we’re happy with the result,” Ms. Franquelli, a former national athlete in basketball and fencing, said a day after the national squad gave defending champion Vietnam fits before losing in a shootout 14-21, 18-12 (8-10).

The loss was the second in five games for the Filipinos in the double-round competition featuring two other countries — Singapore and Thailand.

“We exceeded expectations and no one expected us to get this silver. They were expecting Vietnam and Thailand to slug it out for the gold, but it turned out that we’re the one who fought for the gold and it was a close one,” Ms. Franquelli added.

On Wednesday at the Tuan Chau Resort Ha Long in Quang Ninh, the Philippines battled Singapore and Vietnam faced Thailand in non-bearing games on the last day of the event.

Vietnam was out to finish the tourney unscathed in six matches while Thailand, the silver medal winner in 2019, had the bronze wrapped up with a 2-3 card. Singapore went into the match against the Philippines with a 0-5 card.

Set to return home with silver medals are Daryoush Zandi, Dhane Varella, Josef Valdez, Rey Tabuzo, John Michael Pasco, Jamael Pangandaman, Manuel Lasangue, Andrew Michael Harris, Mark Dubouzet and Van Jacob Baccay.

ACEN reports lower income

AC ENERGY Corp. (ACEN) reported a 68% decline in first-quarter consolidated net income to P405 million due to higher costs of purchased power from the spot market after the preventive maintenance outage of a power plant.

“The company faced significant headwinds in the first quarter from the impact of natural disasters, extended plant outages, and elevated spot purchases,” ACEN Chief Finance Officer and Treasurer Maria Corazon G. Dizon said in a media release on Wednesday.

During the quarter, consolidated revenues rose by 29% to P7.4 billion, driven by new operating capacity, including two solar farms each in the Philippines and in India, and several wind farms in Vietnam.

Aside from the maintenance of South Luzon Thermal Energy Corp.’s (SLTEC) power plant, revenues were hit by the curtailed output of the company’s facilities in the Visayas because of a transmission line damage from Typhoon Odette and a previous damage to a subsea cable.

“However, we expect these issues to be resolved in the short to medium term, with the full rehabilitation of transmission lines damaged by [the typhoon], and supported by new operating capacity coming online in the next few months,” Ms. Dizon said.

ACEN said to date, most transmission and distribution lines had been restored, but curtailment is still expected for the 80-megawatt (MW) Islasol solar farm until yearend because of the subsea cable’s reconstruction.

“The company also incurred a one-time buyout expense related to a customer contract. Without the impact of these events, the company’s net income would have reached approximately P1.6 billion during the period, for a growth of 23% year on year,” the Ayala-led energy platform added.

Publicly listed ACEN said that although attributable output expanded by 4% to 1,161 gigawatt-hours, this was offset by the effects of the SLTEC outage and the output curtailment in the Visayas.

Meanwhile, international assets’ output rose by 62% to soften the impact of the decline in the Philippines.

Renewable energy (RE) contribution increased by 52%, bringing its share to 76% of total energy production.

“To help achieve its capacity expansion targets and return to a robust growth trajectory, ACEN recently entered into new partnerships,” the company said.

In March, it set up a joint venture with CleanTech Renewable Energy 4 Corp. to start building a 133-MW solar farm and transmission line in Lal-lo, Cagayan province.

A month later, ACEN and Germany-based ib vogt agreed to create a 1,000-MW solar asset platform in Asia.

In late April, ACEN partnered with US-based firms Pivot Power Management and UPC Solar & Wind Investments LLC “to pursue opportunities to acquire operating wind projects in the US and to explore strategies for extending their useful life through preventative maintenance and repowering.”

ACEN President and Chief Executive Officer Eric T. Francia said recent global events had shed light on the importance of energy security and had hastened energy transition worldwide.

“The recent conflict in Ukraine and supply chain disruptions have led to soaring prices of commodities and fossil fuels, highlighting the need for more indigenous and sustainable energy sources. ACEN’s aggressive RE portfolio expansion and geographical diversification allow us to capitalize on these developments in the long run,” Mr. Francia said.

ACEN, which aims to be the largest listed renewables platform in Southeast Asia, has around 3,800 MW attributable capacity in the Philippines, Vietnam, Indonesia, India, and Australia.

Of the figure, about 3,300 MW, or nearly 90%, is renewable. The company aims to install 5,000 MW of RE capacity by 2025.

At the stock exchange, shares in ACEN declined by 3.89% or 28 centavos to close at P6.92 each. — VVS

Celebrity stylist Fanny Serrano, 74

PHOTO COURTESY OF FACEBOOK.COM/FATIMAMAXINE.MIRANDA
PHOTO COURTESY OF FACEBOOK.COM/FATIMAMAXINE.MIRANDA

ARGUABLY one of the first celebrity makeup artists to become a household name, Fanny Serrano (né Felix Mariano Fausto, Jr.) has passed away. He was 74.

His ward, Maktin Miranda, shared on Facebook: “It is with a heavy heart [that I have] to share to everyone that my Father, Felix Mariano Fausto Jr., aka Fanny Serrano, has peacefully joined our creator last night, around 9 p.m. MNL, at the comfort of our home.”

“Ang prayer lang namin huwag siyang masyadong maghirap (our only prayer was that he would not suffer too much) and our Lord gave that to him, the blessing of moving on in his sleep,” his daughter Patpat Miranda told ABS-CBN News in an interview today.

In March 2021, one of his most famous clients — actress, singer, and political spouse Sharon Cuneta — announced that Mr. Serrano had suffered from a “massive stroke.”

“I am happy to tell you that TF (Tita Fanny) is now home, recuperating and on his way to a happy 100 more years!,” said Ms. Cuneta a few months later.

An IMDB page in his name lists film credits in styling and makeup, in classics such as Sharon Cuneta-starrers like P.S I Love You, Babangon Ako’t Dudurugin Kita, Madrasta, and Minsan, Minahal Kita. Being around celebrity faces such as Cherie Gil, Kris Aquino, and Maricel Soriano also lent him a bit of a showbiz career himself — he appeared on anthology drama series Maalala Mo Kaya, among others.

Born in Singalong, Manila, he started out as a helper in a small salon in Paco, Manila. His big break came, when he did the makeup for actress Celia Rodriguez, and from there expanding his celebrity clientele.

He went on to open a chain of salons, and created his own make-up line and clothing line.

Actress and comedian Kakai Bautista said on Facebook, “I still can’t express how grateful I am for your kindness and generosity.”

“A few years ago, ikaw na isang Fanny Serrano ang nagtanggol at binigyan ako ng inspiration na laging magtiwala sa aking ganda (You defended me and inspired me to always believe in my beauty).” — JLG

Olympic champion Diaz not looking past opposition

HIDILYN DIAZ (foreground) with the Philippine weightlifting team — HIDILYN DIAZ FB

VINH PHUC, Vietnam — Although she’s the odds-on pick to lift the gold in her division, Olympic champion Hidilyn F. Diaz refused to look past the opposition in the 31st Southeast Asian (SEA) Games weightlifting battle on May 19-22 at the Hanoi Sports Training and Competition Center.

It’s not for lack of training or desire. She just acknowledged the fact that on any given day, someone might just spring a surprise.

“Everyone of us can win a gold medal and I can’t cite names because all of us are doing our best to perform at the highest level,” said Ms. Diaz, refusing to make any prediction in the regional multi-sporting competition.

“I can’t make any prediction since all the athletes are capable of winning a gold medal,” added the 2021 Philippine Sportswriters Association Athlete of the Year who ended the country’s quest for a golden win in the Tokyo Olympics.

A day after arriving in Ho Chi Minh City, the 31-year-old Zamboangueña plunged into training at the Steel Saigon gym to prepare for her gold medal bid in the women’s 55kg category on May 20. She reigned supreme in her division in the 2019 Philippine SEA Games.

“I’ll train for one week here in Ho Chi Minh City to prepare myself,” said Ms. Diaz, one of several stars on the national team, the others being gymnast Carlos Yulo, pole vaulter EJ Obiena, teen tennis star Alex Eala, the boxers who won medals in the Tokyo Games, and the Gilas Pilipinas squad.

Helping Ms. Diaz reach topnotch form on competition day are members of the HD team who arrived with her last Tuesday in Ho Chi Minh City — head trainer Julius Naranjo, nutritionist Jeaneth Aro and sports psychologist Dr. Karen Trinidad.

Ms. Diaz’s teammates on the women’s team, who will fly to Hanoi on May 16 after their rigid training at the Rizal Memorial Sports Complex, are reigning Asian champion Vanessa Sarno (-71 kg), Tokyo Olympian Erleen Ann Ando (64 kg), 2019 SEA Games gold medalist Kristel Macrohon (+71 kg), 2019 SEA Games silver medalist Margaret Colonia, Asian Championships silver winner Mary Flor Diaz (45 kg) and Rosegie Ramos (49 kg).

The men’s team members are Rio Olympics bet Nestor Colonia (67 kg), Fernando Agad (55kg), John Dexter Tabique (-89kg), Rowel Garcia (61kg), John Kevin Padullo (+89kg), and Lemon Tarro (73kg). They will be joined by coaches Gregorio Colonia, Nicolas Jaluag, Gary Hortelano and Patrick Lee.

Ms. Diaz arrived in Ho Chi Minh City on Tuesday together with her Team HD composed of head trainer Julius Naranjo, nutritionist Jeaneth Aro and sports psychologist Dr. Karen Trinidad.

“I’ll train for one week here in Ho Chi Minh City to prepare myself,” the College of Saint Benilde BSBA Major in Business Management said.

Ms. Diaz, before winning the gold in Tokyo Summer Olympic Games last July, had already won the silver medal in 2016 Rio Olympics and a gold medal in the 2018 Asian Games in Jakarta, Indonesia.

URC income up 20% on higher sales, forex gains

UNIVERSAL Robina Corp. (URC) announced that its net income in the first quarter was higher by 20% to P3.6 billion from P3 billion, driven by higher sales and foreign exchange gains.

“Over the past months, countries in the region have opened up their economies as COVID transitions to an endemic phase, we see market recovery,” President Irwin C. Lee said in a virtual briefing.

In the same period, sales were up 22% to P35.8 billion from P29.4 billion, from strong growth.

Of this, URC said that its Munchy’s unit contributed 5% to topline growth.

In 2021, URC acquired Malaysian biscuits company Munchy’s and declared its divestments in Oceania.

“URC is uniquely strong with a wide and diverse portfolio of products, leading positions in all categories and markets. We have built distribution through the pandemic, improving physical availability and winning the customers even during the downturn,” Mr. Lee said.

“The markets we compete with have not yet recovered from COVID declines. However, across the categories we played in, URC has performed better than overall market situation,” he added.

In 2021, URC’s net income rose 23% to P13 billion, driven by foreign exchange gains, proceeds from the sale of idle assets, and tax savings.

At the stock exchange on Wednesday, URC shares fell by 0.88% or P1.00 to close at P113 apiece. — Luisa Maria Jacinta C. Jocson

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