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Megawide, 2 Japanese firms secure P13-B subway deal

Metro Manila subway will run from Valenzuela City to the Ninoy Aquino International Airport. Photo taken on March 8. — PHILIPPINE STAR / MICHAEL VARCAS
CONSTRUCTION of the Metro Manila subway project is seen in Valenzuela, March 8. — PHILIPPINE STAR/ MICHAEL VARCAS

A JOINT VENTURE composed of two Japanese construction companies and Megawide Construction Corp. bagged the P13.26-billion contract to build the two stations of the Japan-funded Metro Manila Subway, the Department of Transportation (DoTr) said.

The contract was awarded to the joint venture of Tokyu Construction, Tobishima Construction, and Megawide, according to a notice of award issued by DoTr Undersecretary for Legal Affairs Reinier Paul R. Yebra on April 22.

The contract involves the construction of the Ortigas North and South subway stations and tunneling works.

However, the contract award still requires concurrence by the Japan International Cooperation Agency and compliance with the procurement standards for the Japanese official development assistance (ODA) loans. 

Sought for comment, a Megawide representative said: “As the official award/contract is yet to be announced by the DoTr, we defer to them first on releasing any information regarding the project.”

The DoTr began seeking bidders for the construction of the two subway stations and tunneling works in 2020.

Since the Metro Manila Subway project is funded by ODA from Japan, a Japanese firm should be the prime contractor. Companies from any country are eligible to serve as sub-contractors, according to the DoTr’s bid bulletin.

A joint venture will be eligible for the contract as long as “the nationality of the lead partner is Japan, that the nationality of other partners is Japan and/or the Republic of the Philippines, and that the local share of work of Japanese partners in the joint ventures is more than 50% of the contract amount,” the DoTr said.

The Metro Manila Subway will have 17 stations between Valenzuela and Bicutan.

Transportation Undersecretary for Railways Timothy John R. Batan said at a forum last week that the Metro Manila Subway involves 13 contracts, six of which have been awarded. This includes a P26.75-billion contract to supply 240 train cars that was awarded to the joint venture of Japan Transport Engineering Co. and Sumitomo Corp.

Transportation Secretary Arthur P. Tugade said in January that the tunnel works for the country’s first underground railway system was expected to start by the second quarter.

The government initially planned to launch partial operations this year and full operations in 2025, but Mr. Tugade has said this is no longer possible due to the limitations brought by the pandemic. Partial operation of the subway is now expected in 2025, while full operation is eyed by 2027.

“Once operational, the (Metro Manila Subway) will reduce travel time between Quezon City and NAIA (Ninoy Aquino International Airport) from 1 hour and 10 minutes to just 35 minutes,” the DoTr said in a January statement.

Two out of 25 tunnel boring machines from Japan that will be used for the project arrived in Manila in February.

The project was first proposed and planned in 1973 as part of the Urban Transportation Study in the Manila Metropolitan Area, according to the DoTr.

Shares in Megawide went up by 0.80% to P5.04 each on Monday. — Arjay L. Balinbin

Podcast tells the untold story of Pharmally

THE FOUNDERS of Pharmally thought they had it made. We were in a once-in-a-generation pandemic, the government had license to act fast and spend billions of pesos in one go, and there was a global shortage of medical supplies.

“It was a time, I guess, the intention was… we are three young men. We were greedy and wanted to bite off a bigger contract,” said Huang Tzu Yen, the Singaporean co-founder of Pharmally. And they would have gotten away with it too, had it not been for a little-known auditor who died shortly before his report was published.

Enter Modus: The Pharmally Con, a new podcast by award-winning audio production company PumaPodcast. It takes the listener through the twists and turns that led to one of the biggest cases of pandemic profiteering in the world.

The six-part series — hosted by Lourd de Veyra — includes new interviews and discoveries about the rise and fall of Pharmally Pharmaceuticals. It’s a story of hubris, big money, and even bigger backers. It also shows the lengths the powers-that-be will go to, to protect the favored.

How did a six-month-old company with no money bag the biggest contracts from the Philippine government, edging out even local suppliers? How did it get away with bringing in medical supplies without an import license?

It was the Bayanihan to Heal as One Act that removed the guardrails that were in place to prevent corruption. And as some people ended up driving Porsches and Lamborghinis, regular Filipinos had to keep buying and wearing face shields.

Produced with a sound design reminiscent of a classic crime film and Lourd de Veyra’s signature witty narration, the podcast is meant to be as entertaining as it is informative.

Every 20-minute episode will leave listeners wanting to know what happens next.

“The Pharmally scandal is proof that in a once-in-a-generation pandemic that killed so many, the people we trusted to lead us, failed us repeatedly,” says PumaPodcast Chief of Content Tricia Aquino in a press release.

The case is now in limbo, as most of the senators on the Blue Ribbon Committee are busy campaigning. Two of the Pharmally founders who are still detained are begging to be released on the grounds of “mercy and compassion.” One of the supposed co-conspirators is running for a seat in Congress in this election.

“We hope that the podcast will prompt reflection, especially when there are only a few days left until the elections. We are putting these candidates in the highest posts in the land. Will they wield their power responsibly, and for the public good? Or will they use their position to serve their interests?,” Ms. Aquino said.

Modus: The Pharmally Con is now available on Spotify, Apple Podcasts, and other streaming services. Episode 4 was released on April 29.

MegaWorld to boost Bacolod township capex to P45B

MEGAWORLD Corp. said it plans to increase the capital expenditure (capex) budget for its Bacolod townships to P45 billion, particularly for its The Upper East development.

“We are adding P10 billion more to our investment for The Upper East as we see great potential and opportunities for this new township, which is now fast rising to be Bacolod’s first modern central business district,” Megaworld Visayas Vice-President for Sales and Marketing Jennifer Palmares-Fong said in a statement on Monday.

In 2015, Megaworld announced that it was spending P35 billion to develop two townships in Negros Occidental, which includes the 50-hectare Northill Gateway and the 34-hectare The Upper East developments.

For its The Upper East project, the company said it had completed the construction of the 12-storey One Regis, its first residential condominium project, which is due for turnover within the year. The second tower, the 14-storey Two Regis, is set to be completed next year.

Two more condominium towers are in the construction pipeline, One Manhattan and Herald Parksuites.

Meanwhile, the property developer announced that it formally opened the Upper East Avenue, its eight-lane main avenue inside The Upper East.

The Upper East Avenue is composed of six road lanes and two “on-street” parking lanes. It is open for both private and public vehicles, subject to the traffic rules and regulations of its own estate management group, which will deploy traffic marshals around the area.

Secondary roads within The Upper East are now being completed, as well as an extensive network of bike lanes inside the township to help promote efficient and convenient mobility.

“Our first BPO (business process outsourcing) office tower development, No. 1 Upper East Avenue, has also started its construction. Soon, we will also begin the construction of our commercial developments in this township. Indeed, exciting times are ahead in The Upper East,” Ms. Palmares-Fong said.

The Upper East will soon have its own Megaworld Lifestyle Mall, commercial parks, hotel, church, and other institutional and recreational facilities, the company said.

In 2021, Megaworld reported a 36% rise in net income attributable to equity holders to P13.4 billion due to strong real estate sales, office rentals, and hotel revenues.

At the stock exchange, Megaworld shares dropped by 2.45% or seven centavos to finish at P2.79 each on Monday. — Luisa Maria Jacinta C. Jocson

Knott and Guermali brothers to skip Hanoi SEA Games

KRISTINA KNOTT — PHILSTAR FILE PHOTO

THE Philippine track and field team’s golden bid suffered a devastating blow after potential winners Kristina Knott and Guermali brothers Yacine and Said begged off from joining the Hanoi Southeast Asian (SEA) Games set on May 12 to 23 due to various reasons.

Ms. Knott, a Tokyo Olympian and 2019 SEA Games double-gold medalist, officially announced she has pulled out from the national team after suffering a foot injury recently.

Fellow Fil-Am Kyla Richardson will compete in Ms. Knott’s behalf in the 100 meters, 200m and the women’s 4x100m relay alongside twin sister Kayla, Robyn Brown and Eloisa Luzon.

Yacine, for his part, backed out due to conflict with his school schedules while Said withdrew due to injury.

Ms. Knott is easily a favorite to snare the sprint double mints while the Messrs. Guermalis are a cut above the rest in the 5000m, 1500m and 800m based on their personal best times.

But their absences may diminish the country’s golden chances in these events.

Philippine Athletics Track and Field Association President Philip Ella Juico remained confident the country can achieve their target of seizing eight to 11 gold medals.

Expected to deliver the mint for the Filipinos are pole-vaulter and Philippine flag-bearer Ernest John “EJ” Obiena, hurdler and sprinter Eric Cray, marathoner Christine Hallasgo, pole-vaulter Natalie Uy, hurdler Clinton Bautista, decathlete Aries Toledo, shot putter William Morrison III, thrower Melvin Calano and heptathlete Sarah Dequinan.

The country had 11 gold, eight silvers and the same number of bronze medals in the last edition of the biennial event three years ago at the New Clark City in Capas, Tarlac. — Joey Villar

SEC flags WOW Company for Ponzi-like investment scheme

THE Securities and Exchange Commission (SEC) issued an order of revocation to Wealth on Web Company, or WOW Company, for its Ponzi-like investment scheme and for operating without a license or registration.

In an advisory dated April 29, the SEC said that WOW Company was registered in its database as a partnership. As such, it was not authorized to solicit investments from the public as it did not secure prior registration and license to do so.

“Neither is WOW Company licensed as a capital market professional such as, among others, a securities broker,” it added.

WOW Company allows certain persons acting as its agents or representatives to make public presentations of its investment scheme and to invite the public to invest through social media.

The SEC said these acts make the group “liable for the unauthorized public offering of securities and the misrepresentation committed in connection with such public offering.”

It said the investment scheme has the characteristics of a Ponzi scheme, or an investment program that offers impossibly high returns and pays these returns to early investors out of the capital contributed by later investors.

Based on records from the commission, the company’s business purpose is to engage in direct selling of goods and merchandises to consumers, to engage in business of retail trading, such as but not limited to: apparels, e-loads, e-pins, e-coins, beverages, health and wellness, cosmetics and digital products.

“The department received various e-mails inquiring or reporting about [WOW Company] and its alleged investment-taking activities promising a guaranteed return on investment,” the commission said.

According to the SEC’s investigation, the unauthorized firm entices the public to an investment package where one may put in a minimum amount of P150 to as high as P135,000, while promising a return of as much as 3% to 6% daily depending on the chosen plan.

“The foregoing investment scheme of WOW Company has the characteristics of an ‘investment contract,’ a form of securities which must first be registered with the commission… before they may be offered and sold or distributed to the public,” the regulator said.

In April, the SEC had issued a show-cause order against the firm. However, its investigation showed that despite receiving the order, the group continued offering its services.

The advisory stated that the commission will be revoking the registration of the company as a partnership, and that its partners are directed to pay a fine of P1 million within a period of 15 days from receipt of the order. — Luisa Maria Jacinta C. Jocson

FDCP accepting entries to LBGTQIA+ film fest

ENTRIES to the short film competition of this year’s Pelikulaya: LGBTIA+ Film Festival, conducted by the Film Development Council of the Philippines (FDCP), are currently being accepted until May 13. Held in celebration of Pride Month, the second edition of the film fest will be held from June 10 to 26. It will be an online-onsite hybrid format.

According to an FDCP press release, Pelikulaya “aims to champion equality for the members of the LGBTQIA+ community and transcend the notion of acceptance as mere tolerance but as genuine understanding and celebration of diversity.”

This year’s film festival carries the theme, “Pantay-pantay, Iba’t ibang Kulay!” (The Different Colors are Equal). It also aims to focus on underrepresented members of the community, particularly on trans visibility.

“Interested applicants [to the Short Film Competition] are encouraged to tackle the less talked about, less understood identities, and experiences within the LGBTQIA+ community to further promotion of equality and acceptance of differences,” the press release stated.

Aside from the Short Film Competition, Pelikulaya 2022 will have a showcase of LGBTQIA+-themed feature films, special opening and closing films, and live activities at FDCP’s Cinematheque Centers in Manila, Iloilo, Negros, Davao, and Nabunturan. The feature films will also be screened online on the FDCP Channel.

The Pelikulaya LGBTQIA+ Short Film Competition is accepting 20-minute short narrative films by Filipino members of the LGBTQIA+ community. The films must have been completed within the last two years (Jan. 2020 to May 2022).

Ten short films will be selected as finalists which will be announced on June 2. The 10 films will be screened at the FDCP Cinematheque Centers from June 10 to 26.

The competition includes cash prizes of P35,000 for the winners of Best Short Film, Best Director, Audience Choice Award, Special Jury Prize, and Special Mention.

“We have always believed in the power of films and of storytelling in transcending boundaries of gender and biases. Pelikulaya is not just a film festival, it is an effort and a movement towards raising awareness, calling for equality, and a way of showing allegiance to the causes of the LGBTQIA+ community,” FDCP Chairperson and CEO, Mary Liza B. Diño-Seguerra was quoted as saying in a statement.

For more information on the competition requirements, visit https://fdcp.ph/updates/fdcp-now-accepting-entries-lgbtqia-film-festival. For updates, visit https://www.facebook.com/fdcpchannel.

Mine upgrade corners bulk of SMPC’s budget for 2022

SEMIRARA Mining and Power Corp. (SMPC) has earmarked P4.6 billion to refleet its mine equipment, cornering more than half of its capital expenditure budget this year, its top official said on Monday.

“For 2022, we intend to spend P8.8 billion for mine equipment refleeting, power plant maintenance, and power plant construction,” Maria Cristina C. Gotianun, SMPC president and chief operating officer, said told stockholders during the company’s annual meeting on Monday.

Up to P2.4 billion of the spending budget will go to the construction of a power plant, while the rest at P1.8 billion will be used for the maintenance of power plants.

“As a background, we are constructing a 13-megawatt (MW) power plant in Semirara Island to replace a 38-year-old facility and provide additional steady supply for our mining operations,” she added during the virtual event.

SMPC prides itself to be the only power producer in the country that owns and mines its fuel source. It is the largest local coal producer with a share of 99% of the country’s coal output.

Ms. Gotianun said the company expects stable output for its coal business segment this year as it was able to control the water level at its coal mine.

“Our goal is to produce up to 15 million metric tons. This should allow us to sell around 15 million metric tons of coal,” she said.

“As for the power segment, we see continued headwinds and tailwinds because of unit 2 election-related activities, higher fuel prices, and full reopening of the economy,” she added.

SMPC subsidiary Sem-Calaca Power Corp. previously reported a breakdown of a plant generator component in its unit 2 in December 2020 after only seven months of use. It resumed operations in September 2021 but at a derated capacity of 225 MW.

But in November, unit 2 went on an unplanned shutdown because of plant component’s failure. The downtime is being used to raise its capacity back to 300 MW.

SMPC expects the unit’s operations to resume in the third quarter of this year after faulty machinery, supplier induced delays, and an ongoing technical investigation.

“We are managing this situation very closely to improve overall availability and profitability,” Ms. Gotianun said.

She described SMPC’s financial results last year to be “historic” although she is bracing “for another year of extreme volatility.” She last year, the company faced several “headwinds and tailwinds.”

Ms. Gotianun enumerated these to include the “raging” pandemic, excessive water seepage at its coal mine, plant outages, China’s coal price cap, and a defective power plant equipment.

“On the flip-side, China demand and import quota increased on accelerating industrial activities, mine shutdowns and continuing ban on Australian coal,” she said.

Last year also marked the return of domestic electricity consumption to pre-pandemic levels, while supply constraints, prolonged plant outages and oil price hikes drove up prices.

“These developments triggered dramatic price shifts for our coal and power segments,” she said.

Isidro A. Consunji, SMPC chairman and chief executive officer, said in his report said the company last year “surged beyond and seized the growth opportunities given by the global economic reopening.”

SMPC’s consolidated net income in 2021 grew nearly five times to P16.2 billion as its gross revenue rose 85.6% to P52.42 billion.

Ms. Gotianun said improved market conditions “magnified the operating gains in our mine site and softened the impact of our power generation decline.”

“Our all-time-high top line and bottom line were mostly driven by the coal segment, which made a strong comeback in 2021,” she added.

Ms. Gotianun said SMPC has enough reserves until 2027, or the end of its coal operating contract. She placed the annual coal production until then to be at 13 million to 16 million metric tons.

In the face of China’s coal consumption slowdown because of lockdowns, she said SMPC was able to supply Semirara coal to new local buyers in the power and cement sectors, while developing new exports markets, namely: South Korea, Cambodia and Brunei.

SMPC’s coal resources come from Semirara Island in Caluya, Antique province.

At the stock exchange on Monday, SMPC shares were unchanged at P27.50 each. — VVS

A Minute with: K-pop band ATEEZ on songs, influences and touring

SOUTH Korean K-pop band ATEEZ, San, Min Gi, Yeo Sang, Seong Hwa, Jong Ho, Yun Ho, Hong Joong, Woo Young, pose for a photograph during a Reuters interview at Marriott Hotel Regents Park, before performing at Wembley Arena on April 30th and May 1st during their European tour, in London, Britain, April 28. — LISA GILES-KEDDIE/HANDOUT VIA REUTERS

LONDON — K-pop band ATEEZ played London’s Wembley arena on Saturday as part of their world tour, which was delayed from 2020 by the coronavirus disease 2019 (COVID-19) pandemic.

Known for songs like “Say My Name” and “Turbulence,” the eight-member boy band has garnered a legion of fans around the world since their 2018 debut.

Members Hong Joong, Seong Hwa, Yun Ho, Yeo Sang, San, Min Gi, Woo Young, Jong Ho spoke to Reuters about the tour, their songs and influences ahead of the two London weekend gigs.

Below are excerpts of the interview, via a translator, edited for length and clarity.

Q: Why do you think your songs are so popular?

Hong Joong: Our songs have their own energies.

Yun Ho: I think ATINYS (ATEEZ fans) love our performance, outlook and storyline.

Q: Which ATEEZ song would you suggest a new fan listen to first?

Min Gi: If I had to recommend one song that screams ATEEZ that would be “Say My Name” because it’s a very comfortable song to listen to and it has very meaningful lyrics and is an impactful song.

Yun Ho: For me it would be our first album that has two title songs that are “Pirate King” and “Treasure.”

Q: What has it been like to finally go on tour?

Seong Hwa: We are really thankful to all the fans who waited… for us to come back… We have been practicing and working really hard to come up with a better and stronger performance on stage for them.

Hong Joong: Finally we are enjoying this time now because we waited for a really long time (for it to happen).

Q: What are your main influences for your music videos?

San: We get inspiration from other artists, people who have come before us, and also from movies and everything around us. And also from the stories of our fans. — Reuters

PBA board of governors discuss plans for Season 47

NEWLY-REELECTED CHAIRMAN RICKY VARGAS — PHILIPPINE STAR FILE/JUN MENDOZA

THE Philippine Basketball Association (PBA) board of governors led by newly-reelected chairman Ricky Vargas of TnT looks to carry over the momentum from the successful 2021-22 staging into its full-bodied program for the 47th season.

The pro league’s executives discussed their plans for the three-conference season in a two-day session over the weekend in Boracay, where Mr. Vargas was voted into the chairmanship for a fifth consecutive term.

“Successful ang planning session at excited ang lahat para sa mga plans at programs namin for this year,” commissioner Willie Marcial said. (We have a successful planning session and all was excited at our programs for this year.)

Mr. Marcial said they will announce the specifics of their Season 47 calendar in a press conference on Wednesday.

TWO IMPORTS TOURNEY
The commissioner had previously mentioned that two import-spiced tournaments are in the pipeline as well as possible out-of-town and Dubai games down the road. The league is also set to welcome the Hong Kong Dragons as a guest team while sending representatives to the inaugural East Asia Super League and providing reinforcements for Gilas Pilipinas.

Aside from Mr. Vargas, who was again voted by acclamation during the Boracay gab, Terrafirma’s Bobby Rosales retained his post as vice-chairman while Phoenix Super LPG’s Raymond Zorrilla was elected as the new treasurer.

The PBA is slated to hold its first activity for Season 47 on May 15 with the Annual Rookie Draft. Prospective draftees, including Fil-Ams who now need to only show a Philippine passport this time, have until May 7 to submit their applications.

Mr. Marcial, meanwhile, expressed gratitude to the UAAP for clearing the way for its players to apply for the draft even while their tournament is ongoing. — Olmin Leyba

Condo rental rates in CBDs still lower than pre-pandemic level

A VIEW of buildings in Makati City. — PHILIPPINE STAR/MICHAEL VARCAS
RENTAL RATES for condominiums in the main central business districts are still lower than pre-pandemic levels. — PHILIPPINE STAR/ MICHAEL VARCAS

IF you’re looking for a condominium unit to rent, now may be a good time to consider those in key central business districts (CBDs) in Metro Manila.

In an April 28 report, Colliers Philippines said rental rates for residential condominium units in the main CBDs have dropped by an average of 15% in the first quarter of 2022 versus the same period in 2020.

“Colliers saw a significant decline in rents for studio and 1-bedroom units in major CBDs including Makati CBD, Fort Bonifacio and Ortigas Center compared to their pre-pandemic rates,” it said.

“Colliers recommends that tenants take advantage of rental corrections in these prime locations.”

According to Colliers, the average rental rate per square meter (sq.m.) for a studio and one-bedroom unit in Makati CBD stood at P930 in the first quarter of 2022, 15% lower than the P1,100 in the first quarter of 2020.

In Fort Bonifacio, Taguig, the average rental rate for a studio or one-bedroom condominium unit dropped 14% to P870 per sq.m., while in Ortigas Center, the rate slipped 15% to P910 per sq.m.

“In our view, the return of more employees to their respective offices should help stoke residential leasing demand for these key locations,” Colliers said.

Many companies have asked employees to return to the office amid the decline in coronavirus infections and continued easing of pandemic restrictions in Metro Manila.

Colliers said developers with ready-for-occupancy units within these CBDs should consider offering “attractive” leasing terms to tenants in order to boost occupancy.

Joey Roi Bondoc, associate director for research at Colliers, noted that property market optimism has improved as the economy gradually reopened.

“We now see more businesses encouraging their employees to return on site. This, coupled with the return of more foreign employees should have a positive impact on residential leasing. Hence, we are projecting a gradual recovery in rents and prices which should extend beyond 2022… Hence, we project a recovery which should start by the second half of 2022,” he said.

UPSCALE CONDOMINIUMS
Meanwhile, Lamudi Philippines said its latest data showed strong demand for condominium rentals in the main CBDs — Makati, Pasig and Taguig, with double-digit growth in leads in the first quarter from the fourth quarter of 2021.

In a statement, Lamudi said mid-cost condominium units for rent priced between P15,000 to P60,000 in these three CBDs had the most leads, but also noted an uptick in demand for upscale rentals.

“In Makati, leads for condo rentals priced between P60,000 to P100,000 increased by almost 90% quarter on quarter, the largest spike out of all other price segments in 1Q 2022. This may be attributed to increasing interest in larger personal space following the pandemic, as the majority of leads for listings under this price segment went to 2-bedroom followed by 3-bedroom units,” it said.

Lamudi data also showed robust demand for units for rent between P15,000 to P30,000, with a 46% spike in leads quarter on quarter.

Leads for condominium units in Taguig surged 60% quarter on quarter, mainly for units in the P30,000 to P60,000 rent range.

“However, potential Taguig condo renters showed growing demand for upscale rentals as leads for the P200,000 to P500,000 price band doubled from 4Q 2021 to 1Q 2022, possibly driven by interest from returning expats and investors following amendments to the Retail Trade Liberalization Act,” Lamudi said. — Cathy Rose A. Garcia

AyalaLand Logistics profit up 19%

AYALALAND Logistics Holdings Corp. reported a 19% increase in net income to P197 million in the first quarter of 2022, a year when it aims to boost its business performance.

“Our growth plans are geared to enable AyalaLand Logistics to seize opportunities in the new economy. With the competitive advantage from our solid portfolio of diversified product offerings, and our optimistic view on the economy’s reopening, we look forward to enhancing our business performance in 2022,” said Marla Rowena M. Tomeldan, the company’s outgoing president and chief executive, said in a disclosure on Monday.

The logistics firm, a subsidiary of Ayala Land, Inc., reported consolidated revenues of P864 million, without giving a comparative number. It previously reported quarterly gross revenues of P963.51 billion a year ago.

In the first quarter of this year, warehouse leasing revenues rose by 54% to P191 million from P123 million given improved occupancy and increased leased areas.

Meanwhile, industrial lot sales decreased by 18% to P316 million, due to unbooked reserved lots.

“Commercial leasing is gradually recovering with retail stores reopening and an increase in total customer foot traffic by 32% versus the same period last year,” the company said.

In February, AyalaLand Logistics acquired an existing ready-built facility in St. Tomas, Batangas, adding 64,000 square meters (sq.m.) of leasable warehouse space to its portfolio. The acquisition brought to 288,000 sq.m. its warehouse gross leasable area (GLA) across six locations.

The company is targeting to reach 500,000 sq.m. of GLA by 2025 and expects to double its cold storage capacity to 15,000 pallet positions by 2023.

On April 2, stockholders approved the increase in the company’s authorized capital stock of up to P10 billion, through the creation of P5 billion nonvoting preferred shares with a par value of P1 per share and the increase of P5 billion common shares with a par value of P1 per share. 

The increase in capital stock will be used as a funding source for expansion projects and growth plans, according to the company.

“All growth efforts are in line with the company’s vision to be leading real estate logistics and industrial estate developer in the Philippines,” it added.

The company has interests in real estate and property development of industrial parks, commercial centers, leasing of warehouses, and providing logistics facilities, through the following subsidiaries: Laguna Technopark, Inc.; Unity Realty & Development Corp.; LCI Commercial Ventures, Inc.; Ecozone Power Management, Inc.; Orion Land, Inc., Tutuban Properties, Inc., and Orion Property Development, Inc.

Orion Land wholly owns Tutuban Properties, which holds the lease and development rights over Tutuban Center in Manila’s downtown Divisoria.

In 2016, it entered into a deed of subscription where Ayala Land subscribed to 51.06% equity interest in the company.

At the stock exchange on Monday, AyalaLand Logistics shares were down by 4.24% or 19 centavos to close at P4.29 each. — Luisa Maria Jacinta C. Jocson

Entertainment News (05/03/22)

GMA releases new fantasy romcom

GMA Entertainment Group premieres the gender-switch series False Positive on May 2 after First Lady on the GMA Telebabad line-up. The fantasy romcom stars Xian Lim and Glaiza De Castro. Directed by Irene Villamore, the story follows the perfect couple, Edward (Mr. Lim) and Yannie (Ms. De Castro), who, not long after getting married, find out she’s pregnant. Their joy is gradually replaced with bickering and jealousy. After one major fight, Yannie curses into the wind hoping that Edward would understand what she was going through. A playful diwata heard her, and granted her wish — a little too literally.

New love song from Ben&Ben   

FOLK-POP band Ben&Ben has released a new single, “Paninindigan Kita.” Written by Paolo and Miguel Benjamin, the upbeat pop song captures the fearlessness of fighting for someone you love despite others’ disapproval. “It is also an ode to a lover that might be hesitant to take a step forward in the relationship,” a statement from the nine-piece band said. “It’s a heartfelt song that gives a balance between understanding where the lover is coming from, and a gentle reassurance that the one singing the song is ready and sure, after learning a lot so far about life and love.” “Paninindigan Kita” is the first song the band recorded in an actual studio since the pandemic started. The song is available on all digital music platforms worldwide via Sony Music Philippines.

Martin Nievera returns to Solaire stage

AFTER a two-year break, The Theatre at Solaire is back as the venue for live shows, starting with Martin Nievera Live Again! on June 25. This one-night concert is a fundraising event to support the Rotary Club of Makati West’s Gift of Life Project. Part of the proceeds of the concert’s ticket sales will fund the heart operations of children in need. For more information, visit https://www.solaireresort.com/article/martin-nievera-live-again. As part of Solaire’s continued safety measures, The Theatre requires double-masking and presentation of vaccination cards upon entry. For tickets, contact Ticketworld at 8891-9999 or via www.ticketworld.com.ph.

Star Wars lip balm for May the 4th

MAY the 4th is Star Wars Day, and Mentholatum LipCare is celebrating with its Men’s Cool Aqua Star Wars pack. Visit the Mentholatum store in Lazada and Shopee and catch the 60% off Flash Sale on May 4 for the Star Wars lip balm. There will also be a Buy 1 Take 1 sale on May 5 to 9 also on the Men’s Cool Aqua Star Wars lip care pack. The product contains vitamin E, aloe extract and macadamia ternifolia seed oil for long lasting moisturization; and SPF15 for UV Protection. It is available in a limited Star Wars design.

GMA’s new afternoon series Apoy sa Langit 

GMA ENTERTAINMENT Group’s latest Afternoon Prime series is Apoy sa Langit, directed by Laurice Guillen. When a widowed jewelry designer and her only daughter get a second chance at a complete family, life takes a surprising twist when an estranged daughter turns out to be her new husband’s secret mistress. The series stars Maricel Laxa as the widow, and Zoren Legaspi as the new husband. Also in the cast are Mikee Quintos, Lianne Valentin, Mariz Ricketts, Carlos Siguion-Reyna, Dave Bornea, Coleen Paz, Celine Fajardo, Patricia Ismael, and Mio Maranan. Apoy sa Langit airs Monday to Saturday after Eat Bulaga on GMA Afternoon Prime.  

Ken Chan sings about his ‘Quaranfling’

ACTOR AND SINGER Ken Chan has released a new single, “Quaranfling,” under GMA Music. “It’s a love story na nabuo (that came together) during the pandemic. Alam natin na maraming nabuong pagmamahalan (we all know that many love affairs ripened) while we are in the middle of the COVID-19 pandemic. Nakita natin na (We saw that) in spite of what’s happening ay may magagandang bagay pa rin na nangyari sa buhay natin (that beautiful things still happened in our lives),” Mr. Chan said in a statement. “Quaranfling” was written by Lolito Go, Jr. The track is available on streaming platforms worldwide.

Jamie Miller releases debut EP

POP singer-songwriter Jamie Miller has released his debut EP, Broken Memories. The six-song EP includes the Wales-born, Los Angeles-based artist’s breakthrough hit, “Here’s Your Perfect,” along with new tracks such as “Last Call” and “I Lost Myself In Loving You.” Bad Memories is available now via Atlantic Records/Geaux Uptown Records at all DSPs and streaming services.  For music and tour details, visit www.jamiemillermusic.com.

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