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SEC flags Flint Technology for unauthorized investment offer

FLINT.COM.PH

The Securities and Exchange Commission (SEC) has flagged Flint Technology Corp. for offering unauthorized investments to the public.

While the entity is registered as a corporation with the commission, the SEC stressed that it is not authorized to collect investments.

Flint Technology is run by Jan Andre M. Mercado and it is said to be a product of his other business, Signet Properties.

The entity also goes by Flint, Flint PH, and Flint Philippines. However, none of its other names are registered with the commission and none have licenses to collect investments from the public.

Flint is said to be a real estate crowdfunding platform powered by business financing platform SeedIn Technology, both of which are not registered as crowdfunding intermediaries or as funding portals.

“The scheme of Flint / Flint PH / Flint Philippines constitutes offering and sale of securities in the form of investment contracts to the public as its investors need not exert any effort other than to invest or place monies in its operation in order to receive profits,” the corporate watchdog said.

A minimum investment of P1,000 in Flint promises a 12% return per annum.

“Allegedly, the earnings will be taken from profits of the real estate investment that is offered to any person at any time,” the SEC said.

The commission is calling on the investing public to be cautious in investing activities and reminded to take precautions before engaging with Flint.

Sought for comment, Mr. Mercado said in a statement that his SEC-registered company had already filed its crowdfunding license application.

“Our legal team is prepared to work closely with the SEC in order to secure all necessary compliance requirements and abide with the current cf rules and regulations. We are confident to resolve any existing issue to protect the integrity of the company, as the welfare of the general public is what is of paramount importance to us,” he said.

“Rest assured flint is doing its best and is in constant communication with the SEC as we work hand-in-hand to ascertain a positive resolution for all parties involved,” he added. — Keren Concepcion G. Valmonte

Darren Espanto returns with his first virtual concert

Darren Espanto

FILIPINO-Canadian singer Darren Espanto sheds his teenage persona in his new online concert, Darren Home Run: The Comeback Concert, which will be shown on June 19 on ktx.ph, iWantTFC, and TFC IPTV.

Born on May 24, 2001, Mr. Espanto first appeared on Philippine television in 2014 as a contestant in The Voice Kids Philippines where he finished in second place under Team Sarah. In his seven-year career, Mr. Espanto has held major concerts in the Philippines, the USA, Canada, and the Middle East. His cover of Timmy Thomas’ 1990 single, “Dying Inside to Hold You,” has 49.8 million streams on Spotify.

A collaboration between ABS-CBN Events and MCA Music, the concert was initially scheduled on May 30 and 31, but was postponed after the singer was exposed to a coronavirus disease 2019 (COVID-19) positive individual. The virtual concert was rescheduled in June.

“It’s called Darren Home Run because in the past seven years, I feel like I have hit the bases in the music/concert scene in the Philippines. It’s kind of like I hit a home run in this show. I just came back from Canada so I’m very excited,” Mr. Espanto said in an online press launch on June 8 held via Zoom.
“This is the biggest virtual concert that I have ever done. Most of the songs that I personally chose for the setlist are close to my heart and are related to my journey in showbiz,” Mr. Espanto said in a mixture of English and Filipino.

The concert is directed by Paolo Valenciano, with TV direction by Jon Moll and musical direction by Soc Mina. Performances on the show are choreographed by D Grind.

“What I envisioned, he (Paolo Valenciano) really brought to life. And I’m happy with how everything looks,” Mr. Espanto said of the stage direction.

“Since this is virtual show, it has to be pleasing to the eyes even if it’s just on a screen. We want to bring the whole concert experience to your homes or wherever the people watching will be,” he added.

Darren Home Run: The Comeback Concert on June 19, 8 p.m., has a re-run the next day, June 20, at 10 a.m., via ktx.ph, iWantTFC, and TFC IPTV. His new single, “Tama Na,” is now available on digital music streaming services. Tickets to the concert are available via KTX.ph, iWantTFC, and TFC IPTV. VIP tickets — at P1,500 — are only for the June 19 live show via KTX.ph, and come with exclusive access to a Zoom party with Mr. Espanto. Regular tickets are available at P699. SKYcable subscribers can watch the concert commercial-free and in high-definition via SKY Pay-Per-View on June 19, 8 p.m., for P699. To get the pay-per-view passes, they can visit mysky.com.ph/skyppv or text SKY PPV <Account No.> to 23662. — Michelle Anne P. Soliman

Gov’t hikes Treasury bill award

BW FILE PHOTO

THE GOVERNMENT increased the amount of Treasury bills (T-bills) it accepted on Monday as rates continued to decline across the board amid robust liquidity in the market.

The Bureau of the Treasury (BTr) raised P21 billion in T-bills on Monday, higher than the programmed P15 billion, as it doubled its acceptance of non-competitive bids across all tenors.

Total tenders reached P100.296 billion on Monday, making the auction 6.6 times oversubscribed. This was also higher than the P92.52 billion in bids seen in the previous week’s auction.

Broken down, the BTr borrowed P7 billion via the 91-day T-bills from P28.229 billion in bids, up from the initial plan to raise just P5 billion. The three-month debt fetched an average rate of 1.118%, down by 5.8 basis points (bps) from the 1.176% seen last week.

The government raised another P7 billion from the 182-day papers versus the original P5-billion program as tenders hit P34.037 billion. The tenor’s average rate likewise dipped by 5 bps to 1.372% from 1.422% previously.

For the 364-day securities, the Treasury also upsized its award to P7 billion from the P5-billion plan, with demand for the papers reaching P38.03 billion on Monday. The one-year instruments were quoted at 1.577%, declining by 7.2 bps from the 1.649% fetched for the tenor last week.

National Treasurer Rosalia V. de Leon said yields dropped across all tenors as the market was awash with cash following  the redemption of retail Treasury bonds (RTBs) worth P131 billion.

“Liquidity looking for outlets as [the] RTB maturity further bolstered ample funds onshore, searching for yields,” Ms. De Leon said in a Viber message to reporters after Monday’s auction.

Meanwhile, a bond trader attributed the decline in T-bill rates to “easing inflation concerns and as investors continue to assess business prospects given the improvement in NCR (National Capital Region), but a corresponding increase in COVID cases in the countryside.”

Headline inflation was steady for the third straight month at 4.5% in May and fell within the 4-4.8% estimate of the Bangko Sentral ng Pilipinas (BSP).

Year to date, inflation averaged at 4.4%, higher than the 2-4% target of the BSP and its revised forecast of 3.9% for the year. May was the fifth month in a row that inflation went beyond target.

Meanwhile, health authorities in late May said new coronavirus cases have started to increase in cities and provinces outside the capital, while NCR and its nearby areas are experiencing a steady decline in new infections.

The Health department reported 7,302 new infections on Sunday, while active cases were at 59,865.

On Tuesday, the BTr will offer P35 billion in reissued 10-year Treasury bonds (T-bonds) with a remaining life of nine years and 24 days.

The Treasury wants to raise P215 billion from the local debt market this month: P75 billion via weekly offers of T-bills and P140 billion from weekly auctions of T-bonds.

The government is looking to borrow P3 trillion from domestic and external sources this year to help fund a budget deficit seen to hit 9.4% of gross domestic product. — Beatrice M. Laforga

Globe says some modems sold as DITO’s; ready to take legal action

GLOBE.COM.PH

GLOBE Telecom, Inc. is ready take legal action against those who sell its Globe At Home WiFi modems with DITO Telecommunity Corp.’s stickers, the company said on Monday.

“It has come to our attention that certain individuals and retail establishments are illegally reselling and passing off as DITO Telecommunity modems several of our Globe At Home WiFi modems,” Globe said in an e-mailed statement.

Globe added that its WiFi modems are being sold to customers with DITO stickers, “making them appear as DITO modems.”

“We are prepared to take the necessary legal action against these unscrupulous individuals and establishments carrying out these deceptive business practices, through the assistance of law enforcement authorities,” it also said.

For his part, DITO Chief Administrative Officer Adel A. Tamano said in a statement: “It has come to our attention that there are so-called DITO-branded modems that are being sold online.”

“Let me take this opportunity to assure the public that the unauthorized use of the DITO branding in any form shall result in the possibility of prosecution for intellectual property infringement,” he added.

“There are no official DITO modems or pocket WIFI devices that have been launched at this time. DITO cannot and will not guarantee the performance and service should our SIM cards be used in these unauthorized devices in the market today,” Mr. Tamano explained.

Globe said that individuals who have bought or been made aware of this activity may report the matter to the Trade department’s Consumer Protection Group via its e-mail address at consumercare@dti.gov.ph or text 09178343330.

They may also report via Globe At Home’s official FB messenger, Globe added. — Arjay L. Balinbin

Bank lending to resume growth in third quarter as confidence improves

LENDING is expected to resume its growth next quarter after months of decline amid improved sentiment among lenders and borrowers as the economy gradually reopens and with the government’s vaccine rollout continues, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said on Monday.

“As we’re opening up the economy, I think there’s growing confidence. There will be [a] more optimistic outlook in the next few quarters so that’s where the situation is,” Mr. Diokno said in an interview with ANC on Monday, adding lending could resume its expansion by the third quarter.

“There’s a lot of liquidity in the system. There’s risk aversion on the part of the banks but I think confidence is coming back largely because of the vaccines. To me, that’s the game changer here,” he added.

Outstanding loans by big banks shrank for the fifth straight month in April, dropping by 5%, based on latest BSP data. Loans disbursed for production activities (-3.9%) and consumer loans (-10.2%) contracted that month. This, despite central bank measures that have infused over P2 trillion in fresh liquidity into the financial system. 

“That’s understandable because the banks have become stricter in their standards,” Mr. Diokno said. “On the other hand, [it’s also] because in the economy, there is less demand for expansion. If you are a businessman, you borrow to expand your business, but why will you expand at this time?”

Metro Manila and adjacent provinces were placed under strict lockdown measures in March and April due to the surge in coronavirus disease 2019 (COVID-19). Restrictions have been eased since then as cases dropped, and government officials and various stakeholders continue to push for the further reopening of the economy.    

ING Bank N.V. Manila Senior Economist Nicholas Antonio T. Mapa said the low base from last year will also support a recovery in lending next semester. 

“June was the first month of single-digit growth before overall lending crashed into negative territory by year-end,” Mr. Mapa said in an e-mail, adding he also expects loans disbursed by banks to post growth by the latter part of the third quarter.

Aside from the gradual reopening of the economy, Mr. Mapa said previous monetary policy decisions are expected to have worked their way into the financial system by next half. The BSP has said the transmission of interest rate adjustments takes six to nine months.

“As we roll into the third quarter, we will likely see the impact of BSP’s stimulus measures finally taking root. We note also that BSP can only do so much in terms of monetary policy, with the banks also needed to do their part to ensure that monetary stimulus is impactful and effective,” Mr. Mapa noted.

The central bank last adjusted benchmark interest rates in November when it trimmed borrowing costs to record lows. It has been on a pause since then and has said it would keep its policy stance accommodative to support the economy’s recovery.

The central bank will have its next policy review on June 24. — LWTN

In the Heights disappoints with $11-M opening weekend

In the Heights (2021) — IMDB.COM

LOS ANGELES — In the Heights, the acclaimed adaptation of Lin-Manuel Miranda’s Broadway show, didn’t hit all the right notes in its box office debut.

The Warner Bros. movie generated a wane $11.4 million from 3,456 US theaters in its first four days of release, below expectations heading into the weekend that suggested the film would reach $20 million. In the Heights also opened on HBO Max, the streaming service owned by the studio’s parent company WarnerMedia, though the company didn’t report its digital viewership.

The disappointing commercial reception is puzzling because critics embraced the film, showering it with some of the best reviews of the pandemic era. Moreover, Warner Bros. put substantial marketing heft behind the picture, and director Jon M. Chu and Mr. Miranda devoted a great deal of energy into promoting the movie, which compensated for the fact that its cast was comprised of mostly unknown stars and emerging actors.

The film’s hybrid release on HBO Max likely affected in-theater turnout, but it isn’t the sole reason that inaugural ticket sales for In the Heights came in under projections. Recent Warner Bros. releases like Godzilla vs. Kong, Mortal Kombat, and The Conjuring: The Devil Made Me Do It still pulled in solid receipts despite being offered simultaneously on streaming. But, as audiences are slowly making their way back to theaters, box office charts are indicating that people have been more inclined to show up for properties with more brand recognition. Though the Tony Award-winning In the Heights isn’t an original property like La La Land or The Greatest Showman, it’s not as well known as Mr. Miranda’s other musical sensation Hamilton, or even Rent, Les Miserables, or Cats.

To that end, box office prognosticators believe In the Heights can find an audience over the summer, similar to the box office sleeper hit that was 2017’s musical The Greatest Showman. The Fox movie debuted to a muted $8.8 million, but audiences fell in love with the soundtrack and Hugh Jackman’s charisma and returned to theaters over and over again. It tapped out with $174 million and $438 million globally, a huge result. Though In the Heights isn’t expected to reach those box office heights, it doesn’t have much competition on the horizon and could continue to play on the big screen.

Based on the 2008 Broadway show, In the Heights follows a bodega owner named Usnavi (Anthony Ramos), who discovers that his mom-and-pop stop-and-shop has sold a winning lottery ticket. As the lively neighborhood of Washington Heights in upper Manhattan reaches sweltering hot temperatures, friendships, relationships, and dreams are put to the test. The ensemble cast also includes Melissa Barrera, Leslie Grace, Corey Hawkins and Olga Merediz. Quiara Alegria Hudes, who wrote the book of the musical, penned the screenplay. In the Heights carries a $55 million production budget.

Also new to theaters this weekend, Sony’s animated family film Peter Rabbit 2: The Runaway arrived with a middling $10.4 million from 3,346 venues through Sunday. Amid the pandemic, films catered to family crowds, like Universal’s The Croods: A New Age and Warner Bros.’ Tom and Jerry, have been reliable theatrical draws, so the Peter Rabbit sequel could have a long life on movie theater marquees.

Overseas, Peter Rabbit 2 has already made $45 million. It cost $45 million to make. — Reuters

SMDC seeks incentives for its Pampanga housing project

NEARLY a thousand units are being offered at SMDC Cheerful Homes Phase 2 in Barangay Sta. Maria, Mabalacat City, Pampanga. — CHEERFULHOMES.COM.PH/

SM DEVELOPMENT Corporation (SMDC) has applied for incentives under the Board of Investments (BoI) for its low-cost housing project in Pampanga.

In a notification published in a newspaper on Saturday, BoI said that the Sy-led company is applying to register as a new developer of economic and low-cost housing project under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act and the Preferred List – Mass Housing of the 2020 investment priorities plan (IPP).

The company is developing SMDC Cheerful Homes Phase 2, a residential subdivision offering 922 units in Barangay Sta. Maria, Mabalacat City.

CREATE, or Republic Act No. 11534, reduced the corporate income tax and reformed the country’s fiscal incentive system. Sectors identified by the government would enjoy income tax holidays for 4-7 years, then a special corporate income tax for 10 years.

The IPP is the provisional list for sectors qualified to receive such incentives from the government while the Strategic Investment Priority Plan (SIPP) is being developed.

The 2020 IPP will be the transitional list until the end of this year or until the new SIPP is approved, Trade Secretary Ramon M. Lopez said in April.

A mass housing unit development based on a P2 million price ceiling is covered under the 2020 IPP, along with in-city low-cost dwelling projects for lease or rent.

The Department of Finance said that industries under the SIPP will be classified into three tiers based on their ability to make high-value investments that will create more jobs.

Persons with objections to the project may file it in writing with the BoI within three days from Saturday, BoI Infrastructure and Services Director Angelita F. Arcellana said in the notice. — J.P.Ibañez

Converge ICT included in 2 global stock market indices

FIBER internet provider Converge ICT Solutions, Inc. announced on Monday that it had been included in two global stock market indices, the Financial Times Stock Exchange (FTSE) Renaissance IPO Index and the FTSE ASEAN All-Share Index, increasing its exposure to passive and active investors.

Global index provider FTSE Russell, a unit of the London Stock Exchange, included Converge in the FTSE Renaissance IPO Index and the FTSE ASEAN All-Share Index, the listed company told the local bourse.

Converge President Maria Grace Y. Uy said, “These will allow us to be more exposed to both passive and active investors who regularly monitor FTSE indices.”

FTSE ASEAN All-Share Index — a partnership between FTSE and Southeast Asian exchanges — is intended to reflect the performance of large, mid and small-cap listed Southeast Asian companies.

Converge said it passed the size eligibility, free float, and liquidity criteria of the regional index.

The company added that it was included in the FTSE Renaissance IPO Index — designed by Renaissance Capital and calculated by FTSE Russell — after its initial public offering (IPO) in the Philippine Stock Exchange in 2020.

“The IPO Index Series is designed to track the activity and performance of the global IPO market, and to add structure and transparency to these equities, providing market participants-controlled access to the attributes of IPOs,” Converge noted.

According to the company, the IPO index constituents are screened on a quarterly basis for size, liquidity, and free float.

“This index covers all institutionally investable IPOs in developed and emerging markets of operating companies with an initial investable market capitalization of at least $100 million,” it also said.

Converge’s attributable net income in the first quarter nearly tripled to P1.55 billion from P573.60 million in the same period last year, owing primarily to an increase in subscribers amid the ongoing pandemic crisis.

Total revenues, which include contributions from residential and enterprise, increased 83.2% to P5.55 billion in the first quarter from P3.03 billion in the same period in 2020.

Converge ICT Solutions shares closed 0.70% higher at P21.60 apiece on Monday. — Arjay L. Balinbin

BSP looking to streamline UITF rules

THE BANGKO SENTRAL ng Pilipinas (BSP) is looking to streamline the requirements for financial institutions’ creation of unit investment trust funds (UITFs).

“The proposed issuance streamlines the process for the creation of UITFs as well as the amendments to the features of a UITF,” BSP Deputy Governor Chuchi G. Fonacier said in a Viber message.

Concerned stakeholders are given until June 23 to submit their feedback on the new rules to the BSP.

Once the circular is approved, the BSP will give concerned financial institutions a six-month transitory period to adjust their policies and processes related to UITFs.

The BSP, in its Manual of Regulations for Banks (MORB), defines UITFs as an open-ended trust funds that could be in peso or other acceptable currency. These are operated and administered by a trust entity. These could include money market funds, bond funds, balanced funds, and equity funds, among others.

Prior to this draft circular, the MORB did not specify prerequisites for creating UITFs. Financial institutions are required to get approval to engage in the trust business from the Monetary Board in accordance with Republic Act 8791 or The General Banking Law of 2000.

The proposal said a trust entity that wants to create a UITF needs to secure “the authority to administer a particular class and/or structure of a UITF from the BSP.”

“Such authority shall be obtained through prior approval by or notification to the BSP,” the draft circular said.

The draft said institutions that have previously rolled out UITFs will only need to make a written notification to the BSP if they are creating new ones, while those doing so for the first time will need to get the central bank’s go signal.

The central bank said documentary requirements when applying to create a UITF will include a written application for authority to create the fund within 10 days from the approval of the firm’s Board of Directors; a copy of the board resolution; and certification from the entity’s chief executive officer (CEO) and chief compliance officer attesting that their proposed funds are compliant with the minimum standards set by the BSP.

Financial institutions will also need to submit sample key information and investment disclosure statement, as well as business documents that contain their policies on marketing, fund management, and risk management, as well as training plans and activities for marketing personnel.

“An application for authority to create a UITF that is found to be accompanied by incomplete documentary requirements shall be returned,” the draft circular said.

Meanwhile, for the written notification, documentary requirements will include the financial institution’s board resolution on the creation of the UITF and the certification from its CEO and chief compliance officer on the new UITF’s compliance with the BSP’s prudential criteria.

The proposed rules also give the central bank the power to suspend or limit the ability of a financial institution to venture into new UITF activities if they do not conform to central bank rules on disclosure and risk management.

To get the central bank’s approval for a UITF, trust entities of banks and other financial institutions should have no supervisory issues on investor protection and must implement adequate risk management practices as prescribed by the BSP. Their planned investment products should also adhere to the central bank’s minimum standards on disclosure and client suitability assessment.

The BSP will charge a processing fee of P10,000 for applications for new UITFs. Financial institutions are required to launch these UITFs within six months from the central bank’s approval.

The draft circular also includes a section on minimum disclosure requirements that requires financial institutions to give their clients relevant information about the UITFs, including the intended frequency of income distribution and the distribution yield. — L.W.T. Noble

A mixed bag

Neptunia Virtual Stars — IDEA FACTORY

Video Game Review
Neptunia Virtual Stars
Personal Computer via Steam

Totally Reliable Delivery Service
Personal Computer via Steam

The Neptunia series is certainly one that’s not afraid to diversify. Idea Factory has dipped the Neptunia franchise’s toes in practically everything at this point, straying from its role-playing-game niche to create all sorts of different offerings in different genres. Neptunia Virtual Stars is one such example, veering from the roots and going for a fast-paced action setup. While its premise is silly, it’s unabashedly self-aware, and the combination of light-hearted humor and entertaining story beats makes it seem like a natural extension. If nothing else, it’s another way to see the cute virtual idols of Gamindustri get an excuse to kick some butt.

In Neptunia Virtual Stars, that’s exactly what the Neptunia girls do. Working hand in hand with some Virtual YouTubers, they hack, shoot, and cut their way to save another world from destruction. With different weapons on tap, different skills to equip, and different accessories to use, the heroines of Neptunia Virtual Stars raise the quality of the third person action shooter genre.

Eschewing the series’ turn-based RPG systems, Neptunia Virtual Stars revels in its frenetic shooting and gritty melee swings. Each of the goddesses all have their own different gear to use, and while the shooting mechanics aren’t particularly deep, they contrast greatly with the ability to use the VTubers’ own melee-focused weapons. You’ll zip and dodge through each stage, gunning down opponents and hacking them to bits as you please. It doesn’t require much brain power, but it’s exceedingly fast and fluid. And while the combat can sometimes feel loose due to the guns being nearly useless without locking on, it does make successful hits feel weighty and impactful. With a pretty good soundtrack to match, Neptunia Virtual Stars’ first impression is certainly solid, and serves to tide you over long enough to get to what most buyers will undoubtedly get the game for: its VTuber collaboration.

Somehow, Idea Factory has managed to pull some actual VTubers into the game itself, and honestly, it’s the perfect fanservice to spice things up. The clips aren’t particularly long video clips, but their integration is nonetheless a treat. For example, you wouldn’t expect to see Shirakami Fubuki and Minato Aqua to drop in. But they do, and more; from Hololive to Kizuna Ai to The Fist Of The North Star’s Heart, no doubt included half-jokingly. However strong these moments might be, though, they’re ultimately a mixed bag. Most of the actual VTuber screen time you’ll see is taken up by the game’s own VTuber heroines in Me, You, Vice, and Licht. The rest of the VTubers are relegated to short, if sweet, cameos between battles, and what utility they have in-game isn’t seen through actual collaborations with them; they’re more like equipment. True, it would’ve been unreasonable to expect the Hololive idols to join in on the action. Then again, it does feel disappointing for the game to barely use them.

That’s perhaps the biggest let-down for Neptunia Virtual Stars. By itself, the game is nothing earth-shaking; its combat is entertaining but repetitive, and its story is run-of-the-mill and mediocre. It’s the VTuber collaboration that promises no small measure of uniqueness; while the game’s own VTuber heroines are entertaining, the chance for you to actually interact with your favorite VTubers should be the game’s main selling point. That said, it’s hard not to feel like they’re underutilized, especially when you consider how popular these VTubers actually are. This leaves Neptunia Virtual Stars feeling empty, as if it had a hole inside its makeup; it’s still a lot of fun, but it could have been more.

Make no mistake. Neptunia Virtual Stars remains a good recommend, and not simply because it’s the latest release from a revered intellectual property. It does have its moments where it’s extremely entertaining, and, especially early on, its fast pace and cute themes really make it shine. Unfortunately, its inability to fully capitalize on its combat mechanics and its thematic inclinations makes it hard to fully appreciate. It’s a good game overall, but it’s one that does not live up to its potential.

THE GOOD:

Cameos from VTubers

Decent combat mechanics and a bevy of characters to choose from, especially with the downloadable content

A very, very solid selection of songs in the soundtrack

THE BAD:

Repetitive and loose gunplay that’s very reliant on a lock-on system

VTubers feel underutilized, and that was the entire point of the game

Somewhat prone to crashing, with some particularly bad lag spikes in some dungeon segments

RATING: 8/10

POSTSCRIPT: Totally Reliable Delivery Service harks back to a simpler time — back when people reveled in the silliness of games like, say, Goat Simulator, where the fun wasn’t so much based on combat or story, but on how your character could interact with the environment. Often, these types of games are silly, with exaggerated physics, nonsensical mechanics, and an overall experience that often borders between the edges of entertainment and frustration. In all these counts, Totally Reliable Delivery Service delivers in spades.

In Totally Reliable Delivery Service, you’re one of up to four unlucky couriers living in a world where its physics don’t quite make sense. You’ll have to leap, dive, sprint, jump, grapple, and drive your way to your destination with your cargo in tow, and while the concept is simple, the act itself is not. This is because every task you can take is drastically more difficult than it should be due to the game engine. It’s absolutely insane with its ragdoll physics, with objects prone to flying off and vehicles threatening to toss you overboard with every jerking motion.

For the most part, Totally Reliable Delivery Service translates to a whole lot of fun. And it gets even better if you’re able to bring in friends to play with, as some of the tasks really start to shine if you have multiple gamers cooperating to finish each task. You’ll find a plethora of vehicles and tools to help you along your way: from helicopters and rockets to delivery trucks, cars, and jetpacks. Do well enough and you’ll unlock new tasks, new locations, and new ways to customize your character. It’s all good stuff to mess about with, and with friends, it’s a blast from start to finish.

But that’s really only if you play with friends. Alone, and your experience is a whole lot different, and while it is still entertaining, it really shines best when played cooperatively — when failures are caused by the (deliberate) antics you and your buddies come up with. Go solo, and a lot of the tasks still retain their charm, but the tedium of having to do everything by yourself starts to weigh down on the experience.

All told, Totally Reliable Delivery Service is best enjoyed in the company of friends. If you’re part of a group into games with ridiculous physics engines, it’s a no brainer. It doesn’t provide for a particularly deep experience, but it’s one that’ll leave you and your buddies entertained for hours on end.

THE GOOD:

Bright, colorful, and downright silly

Tons of vehicles on tap

A lot of content to run through, and most of it unique enough to be memorable and entertaining in a multiplayer session.

THE BAD:

Best played with friends, as its single player component isn’t quite as robust

Borders on frustrating, with some tedious tasks

Best played in short bursts, as it requires both skill and patience

RATING: 8/10

THE LAST WORD: Sony Interactive Entertainment Singapore has announced the release of two new colors to its DualSense Wireless Controller lineup. Midnight Black and Cosmic Red variants will be released in the region, including in the Philippines, at P3,990 and P4,290, respectively.

In consonance with its Galaxy theme, the Midnight Black version features two subtly different shades of black with light grey to reflect how gamers view space through the night sky. Meanwhile, the Cosmic Red version offers a striking black and red design inspired by vivid shades of red found throughout the cosmos.

DMCI Homes introduces lease-to-own option

DMCI HOMES recently introduced an option that would give renters an option to purchase a condominium unit in selected properties.

“This limited time promo offers a lease-to-own option to those who will rent a unit in select move-in ready DMCI Homes properties in Metro Manila, Baguio and Davao through DMCI Homes Leasing Services,” the company said in a statement.

A client can move into a unit after paying one month’s rent in advance and the two-month deposit requirement for a 24-month lease.

DMCI Homes said the promo comes with a “lock-in price” that would shield the client from any unit price increases in the future.

If a client decides to purchase the unit, he needs to submit a letter of intent six months before the end of the lease contract. The client should also pay the required minimum equity down payment before securing financing scheme within the six-month conversion allowance.

A “significant portion” of the rental fee will be credited as down payment for the purchase of the condominium.

SM Prime, coast guard clean up a portion of Manila Bay

BW FILE PHOTO

INTEGRATED property developer SM Prime Holdings, Inc., in partnership with the Philippine Coast Guard, conducted a clean-up activity along a portion of Manila Bay last week.

The project is in line with the company’s continuing efforts to support the Manila Bay rehabilitation program.

The clean-up team, which also included officials from SM Mall of Asia (MOA) and SM By the Bay, sought to remove solid waste and debris from SM MOA’s stretch of the bay, according to statement sent by a public relations agency. The activity took place on June 8, which fell on World Oceans Day.

“Being a responsible integrated property developer, SM Prime has always been aware of its role as a member of the community to help care for the environment, including our seas and oceans,” SM Prime’s Senior Vice-President for Special Projects Siegfred B. Mison said.

Since December, the listed firm has been conducting weekly cleanups at the SM MOA Complex, with support from several groups within the company.

“To ensure that we are able to carry out this role effectively, we continue to collaborate with various communities and government partners as we implement programs that contribute to marine conservation,” Mr. Mison said.

In May, SM Prime collected 4,322 sacks of waste, which reached 42,878 kg; 80 bags of recyclable materials amounting to 240 kg; and 5,272 sacks of silt, which weighed 105,440 kg.

“SM’s regular clean-up drives support the United Nations Sustainable Development Goals (SDG), particularly SDG 11, Sustainable Cities and Communities, and SDG 14, Life Below Water,” the company said.

It added that it had embarked on other marine conservation-focused programs, including the “Plastic Waste Collection Program” in partnership with local nonprofit Plastic Credit Exchange, and the “Trash-to-Cash Recycling Market.”

The Sy-led company previously reported a first-quarter net income of P6.5 billion, lower by 22% from P8.3 billion year on year, amid lower consolidated revenues.

Shares in SM Prime improved by 1.35% or 50 centavos to finish at P37.50 apiece on Monday. — Angelica Y. Yang