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FDI inflows rise for 5th straight month

REUTERS

By Jenina P. Ibañez, Senior Reporter

FOREIGN direct investment (FDI) net inflows almost doubled in October, rising for the fifth straight month after nonresidents’ net investments in debt instruments increased.

Data released by the Bangko Sentral ng Pilipinas (BSP) on Monday showed that FDIs climbed by 98.9% year on year to $855 million in October from $430 million a year earlier.

This was also 29.5% higher than $660 million in September, which was the lowest in four months as the surge in coronavirus cases dampened investor sentiment.

Foreign direct investment sustained an uptick as the economy gradually reopened in October, ING Bank N.V. Manila Senior Economist Nicholas Antonio T. Mapa said in an e-mail.

“Although still benefiting from the low base (in October 2020), the upward trajectory was indeed welcome. We can expect FDI to rise further to support the Philippine peso should the reopening continue,” he said.    

Foreign investments in debt instruments reached $637 million in October, up by 78.5% from $357 million a year earlier.

Reinvestment earnings reached $77 million, or 7.1% higher than $72 million in October 2020.

FDIs in equity capital surged to $141 million from $1 million a year earlier. Meanwhile, placements grew by 80% to $154 million from $86 million in the previous year.

Investments in equity and investment fund shares almost tripled to $218 million from $73 million.

For the first 10 months, FDI net inflows hit $8.1 billion, up by 48.1% from $5.5 billion in the previous year.

“Cumulative FDI net inflows rose on the back of the 78.6% increase in nonresidents’ net investments in debt instruments to $5.9 billion from $3.3 billion in the same period in 2020,” the BSP said.

John Paolo R. Rivera, an economist at the Asian Institute of Management, said FDI increased after the country’s pandemic situation in the latter part of 2021 improved.

“We were seeing significant improvements in our pandemic situation since September continuing to October until December relative to other ASEAN countries,” he said in a Viber message.

Net Foreign Direct Investment (Oct. 2021)

Gov’t urges Indonesia to lift coal ban

REUTERS
Workers walk near a tugboat carrying coal barges at a port in Palembang, South Sumatra province, Indonesia, Jan. 4, in this photo taken by Antara Foto. Antara Foto/Nova Wahyudi/ via REUTERS

By Marielle C. Lucenio

THE Philippine government is urging the Indonesia to lift its ban on coal exports, saying the policy would be detrimental to economies that depend on coal for power generation.

The Department of Energy (DoE) on Monday said Energy Secretary Alfonso G. Cusi had sent a Jan. 6 letter to his Indonesian counterpart, Minister of Energy and Mineral Resources Afirin Tasrif, appealing for the ban to be lifted, specifically for the Philippines.

Indonesia’s ban would be “detrimental to economies that rely on coal-fired power generation systems like the Philippines,” Mr. Cusi said in the letter.

Indonesia, the world’s biggest thermal coal exporter, suspended exports on Jan. 1 after its state power utility reported dangerously low inventory levels of the fuel at its domestic power stations, Reuters reported.

The Philippines is expected to be affected by Indonesia’s ban because it remains heavily reliant on coal for power generation.

“Power generated from coal comprises about 60% of the country’s power demand,” Mr. Cusi said in the letter.

Data from the DoE showed the Philippines imported 69.51% of its 42.476 million metric tons (MMT) of coal supply in 2020.

Mr. Cusi said the Philippines imported 2.3 MMTs of coal monthly from Indonesia in 2021.

The DoE chief requested the Foreign Affairs department to “intercede and appeal on behalf of the Philippines, through the Association of Southeast Asian Nations (ASEAN) Cooperation mechanism.”

Foreign Affairs Assistant Secretary Eduardo R. Meñez said the letter would be forwarded to the Indonesian government.

“It will be a sovereign decision of Indonesia, perhaps appeals from different countries can change the policy,” he said in a text message.

Other countries such as Japan, South Korea, China and India have also asked Indonesia to lift the ban.

This is a sign for the country to pursue energy independence, energy experts said.

Climate Financing Financial Futures Center Founder Sara Jane D. Ahmed said the issue surrounding Indonesia’s coal export ban reflects lock-in risks for fossil fuel-importing countries like the Philippines.

“Global prices in theory would increase as a result of the halting of Indonesian coal exports, which may be passed onto Filipino consumers and the industry. It’s time to focus attention on energy security and price stability through domestic renewables, storage and grid upgrades,” she said in a Facebook Messenger chat.

Earlier, Philippine companies operating coal-fired power plants said they have sufficient coal supply for at least 30 days. They are also tapping other suppliers; in case the ban extends beyond January.

“In the immediate short-term our coal supply should be safe. However, coal from other countries is likely to be expensive, and will also continue to increase in price as other major coal importers in Asia such as Japan, Korea, and Taiwan, will also need to look for other suppliers,” Verne Energy Solutions Chief Executive Johnny A. Altomonte told BusinessWorld in a Messenger chat.

Mr. Altomonte said the government should start preparing contingency measures.

“They should be looking for additional suppliers, perhaps implement demand-side management measures as well like incentive-based or time-based demand response programs,” he said.

The DoE said its Electric Power Industry Management and Energy Resource Development Bureaus were set to meet with coal power plant generators on Tuesday “to discuss potential strategies and the way forward.”

Meralco power rates to go down in January

PHILIPPINE STAR/ MICHAEL VARCAS

RESIDENTIAL customers of Manila Electric Co. (Meralco) will see lower electricity bills in January due to a drop in generation costs.   

In a statement on Monday, the company said the rate for a typical household decreased by P0.0746 per kilowatt-hour (/kWh) to P9.7027/kWh this month, from the P9.7773/kWh in December.

This translates to a P15 reduction in electricity bills for households consuming 200 kWh. Monthly bills of households consuming 300 kWh, 400 kWh, and 500 kWh will fall by P22, P30, and P37, respectively.

Meralco said the generation charge fell by 0.1081/kWh to P5.4262/kWh in January, “on the back of lower costs from power supply agreements (PSAs) and independent power producers (IPPs) that more than offset the higher charges from the Wholesale Electricity Spot Market (WESM).”

“This is a welcome relief for our customers and a good way to open the year,” Meralco Vice-President and Head of Corporate Communications Agapito Joe D. Zaldarriaga said at a media briefing on Monday.

He said the initial expectation was for an increase in the rates based on the market, but the situation was reversed after PSA and IPP rates fell by P0.4375 and P0.0543 per kWh, respectively.

“The higher share of excess energy deliveries of AC Energy plants and lower coal prices contributed to the reductions.

Meanwhile, WESM charges rose by P0.8511/kWh due to the “higher average capacity on outage in the Luzon grid.”

“Damage from Typhoon Odette and the continued Malampaya gas supply restriction also contributed to the grid’s tight supply condition,” Meralco said.

PSAs and IPPs contributed 46.5% and 41.3%% of Meralco’s energy requirement, while WESM’s share stood at 12.2%.

Transmission charges for residential customers jumped by P0.0728/kWh, as ancillary service charges went up.

Taxes and other charges fell by P0.0393/kWh.

Collection of the universal charge-environmental charge worth P0.0025/kWh remains suspended.

The company’s distribution, supply, and metering charges have been unchanged for 78 months.

Meralco said the ongoing refund of distribution charges cushioned the rise of the overall power rates in January.

The refund, which the Energy Regulatory Commission (ERC) had ordered Meralco to implement beginning March 2021, is based on the difference between the actual weighted average tariff and the ERC’s interim average rate for distribution charges for July 2015 to November 2020.

DEMAND TO PEAK IN MAY
There is no guarantee the downward trend in power rates would continue, especially since the summer season is approaching, said Mr. Zaldarriaga.

Meralco Vice-President and Head of Utility Economics Larry S. Fernandez said the company is preparing because demand is expected to peak in the last week of May or early June.

In December, the company proceeded with its emergency procurement of 170-megawatt (MW) power supply in preparation for the summer months and the national elections.

The supply, which is still open for bid submission until Feb. 2, will cover Feb. 26 and July 25.

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. — M.C.Lucenio

Competition watchdog to step up review of deals

BW FILE PHOTO

THE Philippine Competition Commission (PCC) is expected to step up its review of mergers and acquisitions this year, once the Bayanihan II law expires in September.

“As firms continue to struggle from lower demand and micro, small, and medium enterprises (MSMEs) remain vulnerable to indebtedness and closures, risks of anti-competitive behavior persist, including anti-competitive mergers and acquisitions, cartel activities, and abuses of dominance,” PCC Chairperson Arsenio M. Balisacan said in the commission’s year-end report released on Monday.

Republic Act No. 11494 or the Bayanihan to Recover as One Act (Bayanihan II) exempts from compulsory PCC notification all mergers and acquisitions with transaction value of less than P50 billion that were entered into two years from the law’s effectivity.

Once the law expires in September, companies whose parent company assets exceed P6 billion and whose merger and acquisition transactions exceed P2.4 billion will once again be required to notify the regulator.

In 2021, the PCC received only four merger and acquisition notifications, two of which were approved, while the other two were withdrawn since they were exempted from compulsory notification.

“These four transactions, with a total transaction value of P470 billion, were engaged in real estate with two, finance and insurance with one, and transportation and storage with one,” Mr. Balisacan said. 

He said the PCC would continue to monitor markets and conduct merger reviews of transactions that “may have substantially lessened competition.”   

The PCC will continue to focus on enforcement efforts on priority sectors such as e-commerce, health and pharmaceuticals, food and agriculture, energy and electricity, insurance, construction, water and telecommunications.

“There is no doubt that healthy competition — one that leads to better prices, more choices, greater quality, and the emergence of innovative solutions to economic challenges — must be an integral component of our development strategy moving forward,” Mr. Balisacan said.   

The PCC’s Competition Enforcement Office is currently conducting one preliminary inquiry and 18 full administrative investigations, but did not give details.

In 2021, the office opened 10 full administrative investigations regarding complaints involving companies in telecommunications, water, energy, and health sectors.

This year, Mr. Balisacan said the PCC will initiate market studies in sectors such as bus transport, telecommunications (internet service providers, wholesale broadband, and spectrum management), and water. He said the PCC will also conduct competition impact assessments in the sectors of energy, food, and sports.

Further, Mr. Balisacan said PCC will develop and issue guidelines on the review of non-horizontal mergers. — R.M.D.Ochave

Power of the Dog, West Side Story take top Golden Globes at off-screen ceremony

LOS ANGELES —  Dark Western The Power of the Dog and a remake of West Side Story won the biggest awards on Sunday at a diminished Golden Globes ceremony held privately without the usual glitzy lineup of Hollywood’s top television and movie stars.

Actors, directors and film studios largely ignored the Globes this year after criticism in 2021 that its organizers, the Hollywood Foreign Press Association (HFPA), operated with questionable ethics policies and no Black members. Longtime broadcaster NBC opted not to air this year’s awards.

The HFPA, which has expanded and diversified its membership and overhauled its practices, announced its picks at a Beverly Hills ceremony held behind closed doors. Recipients of HFPA philanthropic grants sat in the audience and announced winners. Honorees were revealed via social media and a live blog.

Steven Spielberg’s West Side Story, a tale of young love set among rival street gangs, was named best musical or comedy film. Released by Walt Disney Co., the film earned three trophies overall, including best actress for Rachel Zegler.

Netflix’s The Power of the Dog also won three awards including best director for Jane Campion.

Other acting honors went to Will Smith for playing the determined father of tennis stars Venus and Serena Williams in King Richard and Nicole Kidman for her role as Lucille Ball in Being the Ricardos. Andrew Garfield won a best actor award for his role as playwright Jonathan Larson in musical Tick, Tick… Boom!

For television, cutthroat corporate family saga Succession received the best drama award and Hacks, about a fading female comedian, was crowned best comedy.

Netflix led all studios with four film awards. HBO and HBO Max landed the most television honors, with six.

JOURNEY OF CHANGE
Mj Rodriguez, chosen as best TV drama actress for her work on Pose, was among the few stars to acknowledge her award, which was the first Golden Globe given to a transgender actress.

“Wow! … Thank you!” she wrote on Instagram. “This is the door that is going to open the door for many more young talented individuals.”

The Globes normally draw millions of TV viewers to a celebrity-filled red carpet and champagne-fueled dinner that makes for a glamorous yet informal contrast to the Academy Awards, the industry’s highest film honors.

In the past, winning a Globe provided a boost to movies making a run for the Oscars. This year, the significance is less clear. Awards watchers will follow closely other upcoming award ceremonies such as the Screen Actors Guild and the Producers Guild of America ahead of the Oscars on March 27.

Critics had objected to the HFPA not having any Black members and raised questions over whether close relationships with Hollywood studios influenced the selection of nominees and winners. In May, Tom Cruise returned the three Golden Globe statuettes he had won.

The HFPA responded by adding 21 new members, six of whom are Black, banning gifts and favors, and implementing diversity and sexual harassment training. The group now has 105 members and plans to expand this year.

“We are on a journey of change and we’re not going to rest,’ HFPA President Helen Hoehne said in a statement on Sunday.

At the ceremony, the HFPA played videos of support from actors Jamie Lee Curtis, who praised the group’s charitable work, and Arnold Schwarzenegger, who said winning a Golden Globe in 1977 helped launch his career.

“They understand that to support the arts and creativity, one must cultivate new, original and diverse voices,” he said of the HFPA. — Reuters

 


Key winners of the 2022 Golden Globe awards

LOS ANGELES —  The annual Golden Globe awards for film and television were announced on Sunday at a private ceremony in Beverly Hills.

Following is a list of winners in key categories:

MOVIES
Best Drama: The Power of the Dog

Best Comedy or Musical: West Side Story

Best Actor, Drama: Will Smith, King Richard

Best Actress, Drama: Nicole Kidman, Being the Ricardos

Best Actor, Comedy or Musical: Andrew Garfield, Tick, Tick… Boom!

Best Actress, Comedy or Musical: Rachel Zegler, West Side Story

Best Director: Jane Campion, The Power of the Dog

Best Animated Film: Encanto

Best Non-English Language Film: Drive My Car

TELEVISION
Best TV Drama Series: Succession

Best TV Comedy/Musical Series: Hacks

Best Actor, TV Drama: Jeremy Strong, Succession

Best Actress, TV Drama: Mj Rodriguez, Pose

Best Actor, TV Comedy/Musical: Jason Sudeikis, Ted Lasso

Best Actress, TV Comedy/Musical: Jean Smart, Hacks

Best TV Movie or Limited Series: The Underground Railroad — Reuters

Airlines try to manage manpower as Covid cases rise

PHILSTAR

By Arjay L. Balinbin, Senior Reporter

LOCAL AIRLINES said they are trying to manage the impact of the coronavirus disease 2019 (COVID-19) on their work force, as many have called in sick, affecting their operations.

“Many of our cabin crew called in sick. As such, we were compelled to cancel flights. Combination of domestic and international,” Philippine Airlines (PAL) Spokesperson Cielo C. Villaluna told reporters in a Viber message on Monday.

She added that PAL’s ticket office workers from the Ninoy Aquino International Airport (NAIA) Terminal 1 were transferred to Terminal 2 to help augment ticketing manpower.

“Several of our ticketing agents also called in sick, which is why we transferred ticketing agents from Terminal 1 to Terminal 2.”

The airline said sustaining full operations has been difficult because of the increasing number of its frontline and support personnel being unable to work due to precautionary quarantine or self-isolation requirements.

Some employees tested positive for COVID-19, according to Ms. Villaluna.

The flag carrier canceled several domestic flights on Monday, including those between Manila and Cagayan de Oro, Manila and Cebu, Manila and Pagadian, Manila and Dipolog, and Manila and Caticlan.

The airline also canceled flights between Manila and Tokyo.

“This is a very fluid situation. We may need to cancel more flights or make other operational adjustments in the coming days. Please continue to check flight status for any changes in your flight schedule,” PAL said.

Meanwhile, Cebu Pacific also reported having employees who were either sick or under home quarantine.

“Despite best efforts, the current situation has resulted in necessary reductions in scheduled flights,” the budget carrier said.

Various Cebu Pacific domestic flights were canceled on Monday, including those between Manila and Caticlan, Manila and Butuan, Manila and Cagayan de Oro, Manila and Cauayan, Manila and Iloilo, and Manila and Tuguegarao.

“Cebu Pacific operates with 100% fully vaccinated active flying crew. Our pilots and cabin crew undergo regular antigen testing (test before duty) before they are assigned to operate flights,” the airline said.

“Cebu Pacific has already started its booster program to ensure the continued safety of its employees and passengers,” it added.

For its part, Philippines AirAsia said it “elevated its internal COVID-19 response to ensure the health and safety of its Allstars (employees) and its guests, hence optimizing operations and preventing flight cancelations.”

The low-cost carrier said it established a “Safety Plus 24/7 Team” to strengthen its support and monitoring of the health and well-being of its employees.

“The airline welcomed the first week of January by enforcing the submission of the online daily health check form which monitors the health condition of all its Allstars, including those who are on work at home status. Its flight operations department is also clustering schedules and does regular onsite antigen tests for flight deck and cabin crew,” Philippines AirAsia noted.

The airline added that it prioritized securing booster shots for all of its employees who have been fully vaccinated against COVID-19.

How Cinema ’76 carries on in a pandemic

DESPITE the return of the cinema experience, things are different now. No more queueing for a ticket, or munching on popcorn while watching a film in a room packed with fellow patrons laughing and shouting at the events on the screen.

Barely three months since cinemas were allowed to open in the midst of the coronavirus disease 2019 (COVID-19) pandemic, getting audience members to return to the cinema has been a challenge. Then, right after the Christmas holiday celebrations, came the most recent surge of COVID cases in Metro Manila.

Just as many businesses have struggled, the microcinema Cinema ’76 Film Society has faced the uncertainty of when it would open its doors again.

“It’s a struggle for everybody in the cinema industry. It’s a whole business kasi when you produce a film, you have to have a distribution platform to show your films. Granted that there are online platforms —  thankfully it is there —  but it is still different cinema experience and watching it with the audience,” Executive Vice-President and General Manager at TBA Studios Daphne O. Chiu said in a Zoom interview in December.

Due to the 19-month closure of cinemas, the microcinema had to say goodbye permanently last year to its original headquarters in San Juan.

“We had to let go of a lot of our staff, walang guarantee kasi din kung kalian magbubukas ang sinehan (there was no guarantee at that time when cinemas would open),” Ms. Chiu said.

However, not all hope was lost as their focus shifted to managing the second branch in Anonas, Aurora Boulevard, Quezon City.

ADJUSTMENTS AND CHALLENGES OF REOPENING
Since the reopening of cinemas in the Philippines in Nov. 2021, Cinema ’76 has offered new titles weekly at P260 to P280 per ticket, with seats reserved via online booking.

“It really depends on the title. We are a microcinema and [we] have smaller space and team, and we also understand the need to jumpstart the industry,” Ms. Chiu said. “We intend to stay at our [price] range for as long as we can.”

The theater’s seating capacity has been adjusted to 48 people —  less than 50% of the space’s capacity of 120. Since the microcinema operates just one screen, the team employs a sliding tactic for back-to-back shows.

The team has also utilized the venue for private screenings and as an events space. They charge P12,000 for exclusive film screenings, seminars, fundraisers, workshops, and other events for 48 people. The films that can be rented depend on availability.

“We’re seeing more venue rentals than the regular walk-ins,” Ms. Chiu observed since reopening late last year.

As for Dec. 27, 2021, she said that “about 30% of the total sales come from the venue rentals.”

“There’s a space. So why not?,” she said.

Ms. Chiu also added that there has been a change in behavior among guests.

Prior to the pandemic, Cinema ’76 offered new titles on Fridays and accommodated indie titles which are not often seen in commercial cinemas. Since the film distribution is limited nowadays, the titles screened by the microcinema, and its opening dates are in conjunction with major cinemas.

“Now, we open [new titles] on Wednesdays. Surprisingly we see an increase on Thursdays as opposed to before,” she said. “And the day before the next Wednesday, tataas ulit. Surprisingly Monday malakas. We’re supposedly closed on Mondays, but we open on Mondays now because we see an increase in the audience.”

“But we need a little bit more time to study it,” Ms. Chiu said, referring to audience behavior.

Sana (hopefully) a lot more Filipinos can see that this industry is very special… In reality though, marami talagang nag-aantay ng (many eagerly anticipate) Marvel movies. But if we don’t support our own, mawawala tayo ([our local film industry] will be left behind),” she said.

THE CINEMA’76 CAFÉ
“We are happy in our new home,” Ms. Chiu said.

The microcinema’s Anonas branch has also ventured into a food and beverage with the opening of Cinema ’76 Café, an al fresco dining area. The café has movie-themed décor including posters from TBA Studios’ films, and bench seating.

TBA Studios is behind such films as Heneral Luna, Goyo, Sunday Beauty Queen, Kung Paano Sila Nawala, Birdshot, and Women of the Weeping River.

Ms. Chiu said that the idea of opening a café was born for guests needing a place to eat and discuss the film they had just watched especially during last full shows.

“We’re very happy to be doing something entirely different from producing, but it’s also film related. We’re still a cinema exhibitor, and we have a café that’s very cinema slanted and film-themed,” she said, adding that some of the staff from the shuttered San Juan branch are now working at the café.

THE ONLINE COMPONENT
To reach a wider audience Cinema ’76 also has its online platforms —  Cinema’ 76 at Home (https://cinema76fs.eventive.org/welcome) and TBA Play (https://www.tba.ph/global/).

“We have been targeting to reach more Filipinos abroad and their families and foreign friends,” Ms. Chiu said.

The titles are carefully chosen. “We all know that once you put it online, the danger of being pirated is there. Pa-isa isa yung nire-release namin, para mabantayan naming yung titles (We release titles one at a time so that we can monitor it).”

Cinema ’76 and TBA Studios also have their respective YouTube Channels where some of the action and drama titles, and recordings of virtual conversations with directors and actors are accessible.

In terms of film production for TBA Studios these days, developing a title will depend on safety.

“It’s too early to say if we’re pursuing it or not… The number one [thing to keep] in mind is the safety of the staff we will be contracting if there will be a project,” Ms. Chiu said.

“We are finding our way, but I can proudly say that we survived the height of the pandemic in the last two years. We’re not going to start from scratch again, but we’re starting from experience,” she said.

For ticket purchases, go to bit.ly/c76tickets. For booking inquiries, contact cinema76filmsociety@gmail.com and 0977-705-4276. For more information, visit https://www.facebook.com/cinema76fs.   Michelle Anne P. Soliman

SPNEC board clears capital increase to 50B shares

LEVISTE-LED Solar Philippines Nueva Ecija Corp. (SPNEC) said on Monday that its board of directors had approved an increase in the company’s authorized capital stock to 50 billion shares ahead of asset-for-share swaps with its parent firm.

In a disclosure to the exchange, SPNEC said the increase in capital stock from 10 billion shares previously is subject to stockholder and regulatory approvals.

“This would prepare SPNEC for asset-for-share swaps with Solar Philippines [Power Project Holdings, Inc.] and additional capital raises to expand its solar project portfolio, subject to third-party valuations and approvals,” the company said.

“The company is planning to have further consultations and a stockholder’s meeting on this proposal,” it added.

It said the move comes after the “strong investor interest” in its stock, citing more than P5 billion in trading in the past month to make it the Philippine Stock Exchange’s best-performing initial public offering (IPO) in 2021. Its shares closed the year higher by 28%.

“We are thankful for the level of interest in SPNEC, even as a single pre-operating project. At the same time, we note the feedback that adding our already operating or contracted projects would make the company even more attractive. We wish to take this opportunity to give our public shareholders this option, in the interest of advancing SPNEC’s value and profitability,” said Leandro L. Leviste, Solar Philippines founder, in the disclosure.

“We see that other companies have successfully listed assets through share swaps, and we support SPNEC doing the same if that is what our public shareholders want,” Mr. Leviste added.

During its IPO, SPNEC sold 2.7 billion shares for P1 apiece. The company said its offer was oversubscribed, reaching a total of P5.3 billion in orders.

Part of the proceeds of its P2.7-billion IPO will be used to build the first 50 megawatts (MW) out of the 500 MW that SPNEC has already developed. The largest part of the proceeds will be used to acquire land to expand beyond its capacity 500 MW, the company earlier said.

SPNEC said its parent Solar Philippines developed a pipeline of more than 10 gigawatts of solar projects, including an operational 63 MW in Batangas in partnership with Korea Electric Power Corp.; 340 MW operating and under construction in Tarlac, Batangas, and Cavite in partnership with a group led by Enrique K. Razon, Jr.; and several projects on the rooftops of SM malls.

SPNEC, which aspires to develop the largest solar project in Southeast Asia, finished trading on Monday with its shares up nine centavos or 7.5% at P1.29 apiece. — M.C. Lucenio

FDCP’s Full Circle Lab to run for 3 years

THE FULL Circle Lab Philippines (FCL), the flagship international film lab of the Film Development of the Philippines (FDCP), is now set to run for three years, from 2022 to 2024.

Launched in 2019, The Full Circle Lab Philippines aims develop Filipino and Southeast Asian projects with global potential. The various labs train filmmakers in all stages of filmmaking, from pre-production to post-production. The program enhances selected projects from around the globe.

The 2022 edition of the film lab is held in partnership with French production and culturing firm Tatino films. It will have a two-part hybrid workshop which will include an onsite residential workshop from April 26 to 30, and follow-up online sessions during Film Industry Month in September.

The five-month program will be composed of four separate film labs: First Cut Lab and Fiction Lab under the project-based labs, and the Creative Producers Lab and Story Editing Lab under the talent and skills-based labs.

“We are delighted to renew our partnership with Tatino Films, especially because next year, we will be celebrating 75 years of diplomatic relations between France and the Philippines,” FDCP Chair and CEO Mary Liza Diño-Seguerra said in a statement. “With FDCP’s long-term partnership with Tatino Films through what we call Horizons 2025, we are taking concrete steps toward making the Philippines a creative hub for filmmaking in the South-East Asian region.”

Film projects, series, animations, and talents from the Philippines and neighboring countries Brunei, Cambodia, Timor Leste, Indonesia, Laos, Malaysia, Myanmar, Singapore, Thailand, and Vietnam are welcome to apply. The new three-year cycle will be seeing a mentoring team of film professionals from Asia and mentors from all over the world.

“The whole world is looking at Asia now, and we want to capitalize on that and make sure that we are ready and equipped with the tools to take our diverse and unique stories to the global stage,” Ms. Diño-Seguerra said.

The program will be selecting 12 projects for Fiction Lab, three projects for First Cut Lab, eight participants for Creative Producers Lab, and three participants for the new Story Editing lab.

Entries are now being accepted. For more information and announcements, visit Full Circle Lab Philippines’ Facebook page.

Cirtek unit Quintel USA expands services to Hawaii

LISTED Cirtek Holdings Philippines Corp. said its telecommunications subsidiary Quintel USA, Inc. has entered the Hawaii market along with its new antenna portfolio.

“For the state of Hawaii, Quintel will support the islands with its new antenna portfolio outperforming its competitors in aspects such as Passive Intermodulation Mitigation (PIM), wind loading, independent tilt capability, and short delivery lead time,” Cirtek said in a disclosure on Monday.

Quintel has since delivered its first batch of orders in Hawaii. Its goal is to support the Hawaii market’s “growing wireless demand.”

The launch of its new fifth-generation (5G) NR (New Radio) is the first in the state to use the 850 band. It said the antennas would provide an independent tilt option whenever users use the dual band radio.

“This means that the network optimization can independently control the coverage footprint of 5G which is in the 850 band and the 4G in the 700 band,” Cirtek said.

Cirtek said Quintel will be introducing a “family” of macro and C-RAN antenna solutions to increase network data output.

On Monday, Cirtek shares at the stock exchange closed 1.12% higher or by four centavos to finish at P3.60 apiece. — Keren Concepcion G. Valmonte

Entertainment production studio Globe Studios now known as ANIMA

By Patricia Mirasol

Globe Studios, an entertainment production studio backed by the Globe Group of Companies, announced its new name in Jan. 5. ANIMA is now a brand of its own, and the new name signifies the changes the production studio will offer, said head of ANIMA Quark B. Henares in a press statement.

“We wanted something that feels more apt to the industry and medium we deeply care for,” he said. “It was so hard for us to let go of the name Globe Studios because we’ve done and achieved so much in our five years of existence, but I believe we can only go onward and upward with ANIMA.”

The telecommunications company has always given ANIMA creative leeway, even back when it was Globe Studios, Mr. Henares told BusinessWorld in a Facebook message.

“Who would have thought a major telco would greenlight a four-hour black and white musical by Lav Diaz?” he asked, referring to the film Ang Panahon ng Halimaw (The Season of the Devil). “Or an experimental horror like Midnight in a Perfect World?”

ANIMA’s current projects include Ang Pagbabalik ng Kuwago, the first Filipino feature film to premiere at the independent Sundance Film Festival in over 15 years, and Simula Sa Gitna, a Hintayan ng Langit spinoff series. It is also strengthening collaborations with sports media property One Championship, as well as entertainment programming channels WeTV, Netflix, and HBO Go.

The production studio works in long- and short-form formats, and in different genres. It has the podcasts Nandito Sila and Come Home (which both narrate supernatural and clairvoyant encounters), even as it also creates brand content, live-streaming executions, and music videos. It did Globe Telecom’s #SafeAtHome commercial, Kiana P. Valenciano’s Pasko na Sinta ko music video, and the homeschool vlog series featuring Globe ambassadors like Judy Ann S. Agoncillo.

“[Our] audience is composed of mainly millennials and Gen Zers who want to see something different in the entertainment they’re consuming,” Mr. Henares said. “The themes vary through everything from adulting to relationships to gender issues to politics. They constantly challenge us and we kind of love it.”

Like everything else, navigating the pandemic also posed a challenge to the entertainment sector.

Mr. Henares told BusinessWorld that the Metro Manila Film Festival taught them people are afraid of going back to the theaters anytime soon.

“We’ve really been taking a step back to see how our audiences consume content, and shaping our stories to better fit that paradigm,” he said.

Mr. Henares added it’s the stories – and how they are delivered – that matter.

“We’re doubling down on that with ANIMA, so you can expect more stuff on YouTube, on Spotify, on TikTok,” he said. “Wherever!”

Among ANIMA’s past projects are the films Fangirl and Goyo: Ang Batang Heneral, and the series Gaya sa Pelikula and OTJ: The Missing 8.

CNPF offers plant-based pizza and luncheon meat

CENTURY PACIFIC Food, Inc. (CNPF) launched new products under its vegan brand “unMEAT,” including dairy and luncheon meat alternatives as well as a “heat-and-eat” plant-based pizza.

In a disclosure to the exchange on Monday, CNPF said it now has a dairy alternative called “unCHEESE,” a new vegan shelf-stable line under “unMEAT luncheon meat,” and a “heat-and-eat” unPIZZA line with three flavors.

“The plant-based category has a huge potential, and essential to unlocking that value is through continuous innovation,” said Marie Nicolette G. Dizon, vice-president and general manager of refrigerated food at CNPF.

CNPF partnered with Shakey’s Pizza Asia Ventures, Inc. for the initial launch of “unCHEESE.” Using the dairy alternative, the two firms created a plant-based pizza called the “Goood Taco Pizza” that also comes with plant-based meat toppings.

“Dairy alternatives are one of the fastest-growing segments in plant-based globally,” Ms. Dizon said.

Meanwhile, the company also launched its shelf-stable product line with “unMEAT Luncheon Meat,” which was created using non-GMO plant-based proteins and ingredients.

CNPF’s unMEAT shelf-stable products are now available on the shelves of Singapore and will soon be available here in the Philippines as well as in “other key markets” like the United States and the United Arab Emirates (UAE).

“The shelf-stable plant-based format plays a huge role in developing specific markets because it drives accessibility. The price point is lower, making the switch to plant-based easier, and it’s less complex to distribute, leading to higher availability,” Ms. Dizon said.

Meanwhile, e-commerce exclusive “heat-and-eat” unPIZZA brand is made with unCHEESE and other unMEAT meat alternatives. unPIZZA comes in three flavors, namely: Margerita, “unMEAT” Lovers, and Sausage & Peppers.

CNPF launched its meat alternatives brand in 2020 to cater to consumer demand for healthier and “better-for-the-planet” food choices.

The unMEAT brand was first launched via Shakey’s Pizza’s “Goood Menu,” which includes pizza, burger, and nuggets, before CNPF eventually made its unMEAT products available in supermarkets nationwide.

unMEAT products are now on the shelves of markets in the UAE, the United States, China, and Singapore.

“As the category develops and awareness spreads, consumers will start to look for more,” Ms. Dizon said. “We have a new range and exciting innovations in the pipeline, all designed to add diversity to the plant-based food choices of our consumers.”

On Monday, CNPF shares at the stock exchange declined 0.90% or 25 centavos to close at P27.50 apiece. — Keren Concepcion G. Valmonte