TBA Studios tackles crime in new movie

April 22, 2022 | 12:07 am

alvin anson — The cast of TBA Studios’ Grace during the film’s script reading session. — PHOTO FROM FACEBOOK.COM/TBASTUDIOSPH/

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THE LATEST project of TBA Studios — the movie production outfit behind such films as Goyo and Heneral Luna — is a crime thriller titled Grace, the film company announced on their Facebook page on April 20.

To be directed by Ato Bautista (Expressway), the film about a college student who seeks revenge for the brutal death of his girlfriend, targeting a fraternity whose members and alumni are found in every powerful seat of Philippine society.

Taking on the lead role is musician-turned-actor Iken Ramirez, while Alvin Anson of Heneral Luna and Goyo: Ang Batang Heneral fame will play the villain.

The film’s screenplay — based on an earlier treatment developed by the late director Uro dela Cruz — is written by Ato Bautista, Kat Marasigan, and E. A. Rocha. It will be produced by Sea‘N’Sun Film Productions.

In a statement, Mr. Rocha, who is CEO and Co-Executive Producer of TBA Studios, said that Grace is “indicative of the entitlement and abuse wielded by people in powerful positions — a reflection of what is wrong with our country.

“I can only describe Grace as a relevant, violent and ultimately devastating modern parable that had to be told and cinematically experienced,” Mr. Rocha said.
Mr. Rocha is also in the cast, along with veteran actors Angeli Bayani, Art Acuña, Ronnie Lazaro, Cholo Barretto, Kiko Matos, and young actors Mark Neumann, Shaun Salvador, and Vance Larena.

The cast recently held its first script reading in Quezon City ahead of its principal photography in May. More casting announcements for the film will follow.

Grace is one of TBA Studios’ film offerings for 2022 which include the star-studded comedy The Comeback Trail with Robert De Niro, Morgan Freeman, and Tommy Lee Jones, and music documentary Fanny: The Right To Rock, which is the untold story of three Filipina American teens in the 1960s whose trailblazing impact on music was written out of history.

“Film fans will have plenty to get excited about with TBA Studios’ diverse offerings. And this is just our initial lineup! We have more projects to be announced soon,” TBA Studios Executive Vice-President and General Manager Daphne O. Chiu said in a statement. — MAPS

Ukraine war to affect ICTSI’s operations

April 22, 2022 | 12:07 am

LISTED PORT operator International Container Terminal Services, Inc. (ICTSI) said on Thursday that it expects the ongoing Russia-Ukraine war to have an impact on its performance, mainly due to trade disruptions among countries.

“So far, since the war started in February, we are only about to start seeing the effects,” ICTSI Chairman and President Enrique K. Razon, Jr. said during the company’s annual stockholders’ meeting.

He noted that trade with Russia and Ukraine will be heavily impacted, as certain countries have trade relations and activities with them.

“So we will be seeing an impact in those areas for sure, plus other impacts created by uncertainty and the changing of the global security order. We can all expect to see impact one way or another,” Mr. Razon said.

ICTSI has no exposure to Ukraine or Russia. The company has said that the continuing impact of the situation in Ukraine on business and institutions could result in business continuity interference, trade disruptions, rising prices of basic commodities including oil and power, among others.

On the coronavirus lockdown in Shanghai, Mr. Razon said: “This is similar to what happened in the earlier stages of the pandemic, when there were lockdowns in China and you had an accumulated effect, the rolling effect of congestions in many terminals all over the world.”

“With us, particularly in our terminal in Mexico, we probably expect the same thing, and we are well-prepared to handle this. In the past, in 2020 and first half of 2021, we still performed very well in spite of this,” he added.

The group has budgeted approximately $330 million in capital expenditures (capex) for 2022.

Mr. Razon said 87% of the capex will be used for the group’s expansion projects and 13% for maintenance.

Last year, ICTSI spent $165 million on expansion, maintenance, and new projects.

The listed port operator saw its attributable net income for 2021 surge to $428.6 million from $101.8 million a year earlier, mainly due to higher operating income.

Its total revenues from port operations increased 23.9% to $1.9 billion in 2021 from $1.5 billion previously.

It handled consolidated volume of 11,163,473 twenty-foot equivalent units (TEUs) in 2021, higher by 10% compared with the 10,193,384 TEUs handled in 2020, primarily due to volume growth and improvement in trade activities as economies recover from the impact of the pandemic and lockdown restrictions.

ICTSI shares closed 3.81% lower at P222.20 apiece on Thursday. — Arjay L. Balinbin

Stuff to do (04/22/22)

April 22, 2022 | 12:06 am

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CCP screens Lino Brocka films

THE CULTURAL Center of the Philippines (CCP) Arthouse Cinema will start screening films onsite again after an over two-year hiatus. To celebrate the birth month of the late National Artist Lino Brocka, two of his award-winning films will screen on April 22, 2022, at the CCP’s Tanghalang Manuel Conde: Bayan Ko: Kapit sa Patalim at 1p.m., followed by Insiang at 4 p.m. In Bayan Ko: Kapit sa Patalim, Turing who works in a printing press signs a contract agreeing not to participate in any labor union. When a strike begins, he refuses to support his colleagues. As a result, he and his pregnant wife find themselves alone and without help, leading Turing to become involved in a robbery. Meanwhile, Insiang follows the story of a young girl living with her mother in the slums of Manila. Her life becomes unbearable when her mother’s young boyfriend moves in with them. As there will be limited seats available for the on-site screening, it is advisable to pre-register (https://forms.gle/ZJTshJoNb3HHRE4m7). Those who watch the films will get a limited copy of the Scenes Reclaimed catalog. Both films will also be available for viewing worldwide from April 23 to 29 on the CCP Vimeo Channel (vimeo.com/showcase/ccparthousecinema).

Solidarity concert for agricultural workers

ARTISTA NG Rebolusyong Pangkultura (ARPAK) and Artists for Anakpawis will hold a solidarity concert and artists’ fair to highlight the struggle of agricultural workers on April 23, 1 to 10 p.m., at Picked Cafe & Gallery, Tunasan, Muntinlupa City. The opening of the artists’ fair will be marked by the screening of the remastered version of the short documentary on the Hacienda Luisita massacre, Sa Ngalan ng Tubo, by Tudla Productions. This will be followed by performances by Past Forward, Switchbitch, Barricade, Mocksmile, Limbs, No Way Out, Asoge, JK-ULTRA, ahju$$i, and Promote Violence, interspersed with speeches by speakers from organizations like the Federation of Agricultural Workers. Merchandise and art by Hippie Pixie, VISIBLESIGNAL, Marian Hukom, among others will be available at the fair. For more information, visit https://www.facebook.com/arpakph.

Cinema Rehiyon screening continues

THE FILMS of the film festival Cinema Rehiyon are still available for screening until April 30. Online screenings of the films created outside Metro Manila are available on Vimeo Cinema Rehiyon Selections at bit.ly/CinemaRehiyonSelections, and on free TV via ETC channel. For Vimeo screenings, use the promo code NCCANCC or CR2022. Cinema Rehiyon is the NCCA’s Subcommittee on Cinema’s program for the annual celebration of Arts Month in February.

CCP’s Young at Art S2 kicks off

THE SECOND season of Young at Art continues to serve as a space for different generations of artists to talk about their passion. It premieres on April 23, at 3 p.m., with young artists and National Artist for Literature Virgilio Almario. The episodes will stream on the Cultural Center of the Philippines (CCP) Facebook Page and the CCP YouTube channel. The show is presented by the CCP Arts Education Department, with support from the Department of Education and the National Council for Children’s Television.

S&P sees more financial flexibility, modest rating headroom for PLDT after tower sale

April 22, 2022 | 12:06 am

By Arjay L. Balinbin, Senior Reporter

PLDT, Inc.’s sale of its telecom towers could result in increased financial flexibility and modest rating headroom, S&P Global Ratings said on Thursday.

“The company will likely gain financial flexibility and modest rating headroom. That’s because the P77 billion in sales proceeds will more than offset PLDT’s estimated incremental lease liability of P27.5 billion, as well as special dividends of up to P9 billion that it intends to pay following the transaction,” S&P said in an e-mailed statement.

Regina Capital Development Corp. Equity Analyst Anna Corenne M. Agravio said this means that with the increased liquidity from the sale, PLDT will have “more room to take on debt without compromising their gearing ratios.”

“There is no need for additional cash flows,” she said in a phone message.

At the same time, S&P said PLDT’s sale of its 5,907 telecom towers to the subsidiaries of international telecommunications infrastructure services companies edotco Group and EdgePoint “will not materially hurt its competitive advantage.”

“PLDT considers the towers being sold as nonstrategic, and they account for about half of the towers that the company owns. We expect service level agreements made with the experienced tower buyers to preserve PLDT’s network quality,” it added.

The debt watcher noted that PLDT retained the ownership of active infrastructure as the transaction only covers passive infrastructure.

Of the nearly 6,000 towers, 2,973 will be acquired by ISOC edotco Towers, Inc., a subsidiary of edotco Group, and 2,934 towers by Comworks Infratech Corp., a subsidiary of EdgePoint.

“Based on the company’s estimate of the incremental lease liability, we now project PLDT’s debt-to-EBITDA ratio will improve to 2.0x-2.3x over the next 24 months,” S&P said.

“We had previously expected the ratio would remain close to the company’s downside rating trigger of 2.5x over the same period. This improvement should help PLDT better tolerate downside risk of competitive pressure and high capex necessary to enhance its network quality and connectivity, at the current rating level,” it added.

S&P added that this tower sale may not be the last of its kind in the country.

“In our view, the trend is mainly borne out of the need for an impending capex wave to roll out 5G networks.”

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls.

What To See This Week (04/22/22)

April 22, 2022 | 12:05 am

The Lost City

A RECLUSIVE romance novelist Loretta Sage (played by Sandra Bullock) goes on a book tour with her cover model Alan (Channing Tatum) and they get swept up in a kidnapping attempt that lands them both in a jungle adventure, with Alan trying to prove that he can be heroic in real life too. Directed by Aaron Nee, the film also stars Daniel Radcliffe, Brad Pitt, Patti Harrison, Oscar Nuñez, and Da’Vine Joy Randolph. Empire’s Helen O’Hara writes, “This movie is like its star’s jumpsuit: sparkly, gorgeous and entirely frivolous. It coasts by on charisma and comedic talent, on dancing and daring, on stunning locations (the Dominican jungle) and stakes that are high enough to hold the attention and not a millimeter higher.” Review aggregate site Rotten Tomatoes’ Tomatometer gives it a score of 78% and the audience score is 83%.

MTRCB Rating: PG

CTA affirms PLAI’s P115.2-M refund

April 22, 2022 | 12:05 am

THE COURT of Tax Appeals (CTA) affirmed the granted claim for refund of Premium Leisure and Amusement, Inc. (PLAI) of P115.2 million in erroneously paid income tax for the calendar year 2015.

In a 17-page ruling on April 12 and made public on April 18, the CTA en banc said there was no new reason given by the petitioner to reverse or modify the CTA First Division’s decision.

PLAI is a domestic investment holding company that engages in gaming-related businesses in the country.

CIR, the petitioner, under the law has the authority to refund internal revenue taxes, fees or other charges, and penalties provided by the country’s Tax Code.

The Commissioner of Internal Revenue (CIR) earlier asked the CTA en banc to nullify the prior ruling, claiming the court’s First Division made an error in saying the company was entitled to the tax refund.

The company asserted in its claim that being a licensee of the Philippine Amusement and Gaming Corporation (PAGCOR), it is entitled to benefits that include income tax privilege. It also argued that it showed proof of payment of the applicable license fee to PAGCOR inclusive of the franchise tax.

Meanwhile, the petitioner said the company has not proven its entitlement to the refund and that the judicial claim was not filed in the proper period.

“At the outset, Petitioner (CIR) presents no new argument to persuade us that it has a meritorious case,” according to a copy of the ruling written by CTA Associate Justice Maria Belen M. Ringpis-Liban. “They were already passed upon, addressed, and resolved in the assailed decision and assailed resolution.”

The court noted that the company timely filed its claims within the tax court’s prescribed two-year period from filing its annual income tax returns.

The tribunal stressed that the respondent properly indicated in its annual tax income return its paid tax due amounting to P115.2 million as well as official receipts issued by PAGCOR were proven credible sources of evidence.

“In this case, respondent was able to prove that it is entitled to refund or issuance of a tax credit certificate for its erroneously paid income tax for CY 2015,” said the en banc. — John Victor D. Ordoñez

Entertainment News (04/22/22)

April 22, 2022 | 12:04 am

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GMA introduces ‘Sparkada’ talent pool

GMA Network is introducing the new members of its Sparkle talent pool. The 17 new talents, called the “Sparkada,” where chosen by Johnny Manahan. “Most of the Sparkada already have a strong social media following. They are already celebrities in their own spheres and rights. Sparkle is here to magnify it and make them even bigger stars. They have all been through intense workshops to make sure they are ready for the limelight,” Mr. Manahan said in a statement. The “Sparkada” talents are: Roxie Smith, Cheska Fausto, Vanessa Peña, Kirsten Gonzales, Caitlyn Stave, Dilek Montemayor, Tanya Ramos, Lauren King, Saviour Ramos, Jeff Moses, Anjay Anson, Michael Sager, Kim Perez, Vince Maristela, Raheel Bhyria, Larkin Castor, and Sean Lucas.

Miss Universe Philippine coronation night

THE MISS Universe Philippines 2022 Finals will be held on April 30, 7 p.m. at the Mall of Asia Arena. Tickets are available at SM Tickets (https://smtickets.com/events/view/10924). The coronation night will also stream for free on iWantTFC and ABS-CBN Entertainment YouTube Channel.

The Virgin Labfest returns to the live stage

AFTER TWO years of virtual shows, the Virgin Labfest (VLF) returns to live performances for its 17^th year. The festival of new plays will be held at the Cultural Center of the Philippines’ Tanghalang Huseng Batute on June 15 to 26, with shows at 2 and 7 p.m. With the theme “Hinga” (Beathe), the VLF will showcase 12 new plays from emerging and established Filipino playwrights. This year the VLF is led by new festival directors Marco Viaña and Tess Jamias. Founded in 2005, the VLF is an annual laboratory festival of untried, untested, and unstaged works. Information on tickets is yet to be announced.

Clincher-seeking Gin Kings going all out at rescheduled Game Six

April 22, 2022 | 12:04 am

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Game 7 will be played on Sunday at Philippine Arena

By Olmin Leyba

DIFFERENT play date and venue, same objective for Game 6.

Clincher-seeking Barangay Ginebra and sudden death-eyeing Meralco clash in their re-scheduled sixth match in the Philippine Basketball Association (PBA) Governors’ Cup finals on Friday at the MOA Arena, both intent on accomplishing what they originally sought to do last Wednesday.

The 3-2-leading Gin Kings and the embattled Bolts got an unexpected break in action the other day when the pro league called off their initially-set Game 6 duel over at the Smart Araneta Coliseum due to a fire incident there.

“It’s out of our control so we will just adjust and get ready for the game on Friday at MOA,” said Meralco coach Norman Black, who conducted practice when the game was postponed last Wednesday.

Like Meralco, the defending champions tried to make the most of the extra time to recharge and gear up for the crucial 6 p.m. tussle that’s projected to draw another huge gate attendance.

“There should be fresh legs all around for both teams. Should make Game 6 more interesting,” said Ginebra mentor Tim Cone.

The Gin Kings put themselves on the cusp of a fourth Governors’ Cup title in the last five editions with back-to-back romps on Holy Wednesday, 95-84, and on Easter Sunday, 115-110.

Ginebra’s resident import Justin Brownlee said the crowd darlings are laser-focused on the job at hand.

“We want to really go out there and do whatever we can to win the game. Even though we got two opportunities, we’re thinking like it’s only one game to play,” said the Best Import awardee who torched Meralco with 40 spiked by 5-of-7 three-point shooting last time.

The Bolts are far from disheartened despite the daunting task of winning two in a row to steal the trophy from three-time conqueror Ginebra and carving a franchise first.

“Our guys are not giving up. There’s still another game to be won for them to be champions. So we want to win Game 6 and a winner-take-all Game 7,” said sophomore guard Aaron Black, who has been a revelation in the series and posted a career-high 25 in Game 5.

PHILIPPINE ARENA
Meanwhile, the pro league announced on Thursday that the 55,000-seater Philippine Arena in Bocaue, Bulacan will be the venue should the title series go to a deciding Game 7. It will be played on Sunday at 6:30 p.m., if ever.

This will mark the PBA’s return to the stadium, where a record 54,086 fans witnessed the finals rubber match between Ginebra and Meralco in the 2017 Governors’ Cup on Oct. 27 of that year.

The PBA’s most recent staging at the Philippine Arena was three years ago with the opening ceremonies of the Philippine Cup and the kickoff showdown between Ginebra and TnT held on Jan. 13, 2019.

CAB lifts capacity limit for flights to Kalibo, Caticlan

April 22, 2022 | 12:04 am

THE CIVIL Aeronautics Board (CAB) said it recently approved the petition of budget carrier Cebu Pacific, operated by Cebu Air, Inc., to lift the capacity limitation on flights to Kalibo and Caticlan.

This means that air operators flying to the Kalibo and Caticlan airports can now use aircraft with more than 200 seats, the CAB said in a resolution dated Feb. 28, 2022. Cebu Pacific filed the request on Feb. 21.

The 200-seat limitation on flights to Kalibo and Caticlan began in 2019 following the rehabilitation of Boracay. The objective was to rationalize visitor numbers and maintain the island’s carrying capacity, according to the CAB.

Cebu Pacific noted that “fuller loads and coupled with full utilization of all available aircraft seats would benefit the economy at large and ensure the continuous flow of business, cargo, and revitalizing (sic) tourism further to recover from the commercial ill effects of the pandemic,” the CAB said, citing the airline’s request.

The airline is aiming to restore 100% of its pre-pandemic capacity this dry season. It recently announced that it would add more flights for its passengers in Visayas and Mindanao “to enable them to explore more local destinations without having to pass through Manila.”

Boracay has a carrying capacity of 54,945 people per day, or 19,215 visitors and 35,730 non-tourists, according to a study by the Department of Environment and Natural Resources.

The Tourism department has said increasing the island’s carrying capacity is a matter for experts. — Arjay L. Balinbin

Queen Elizabeth gets own Barbie for Platinum Jubilee

April 22, 2022 | 12:03 am

Queen Elizabeth Barbie doll — SHOP.MATTEL.COM

LONDON – Britain’s Queen Elizabeth is being honored with a Barbie doll in her likeness to mark her Platinum Jubilee this year.

Toy maker Mattel said on Thursday it was commemorating the monarch’s 70 years on the throne with a Tribute Collection Barbie doll.

Dressed in an ivory gown with a blue sash adorned with miniature medallions and ribbons, the figure also has a tiara based on the one Elizabeth wore on her wedding day.

Queen Elizabeth, who turned 96 on Thursday, ascended the throne on the death of her father King George VI on Feb. 6, 1952. She is the longest-ruling monarch in British history.

The doll will be sold in London stores Harrods, Selfridges and Hamleys ahead of official Platinum Jubilee celebrations in early June. — Reuters

AyalaLand Logistics to hike capital stock

April 22, 2022 | 12:03 am

AYALALAND LOGISTICS Holdings Corp. stockholders on Thursday approved an increase in the company’s authorized capital stock of up to P10 billion to fund its growth plans.

This will be “used as funding source for the company’s expansion projects and growth plans,” Francis M. Montojo, chief finance officer of the company, said during its annual stockholders’ meeting.

This will be done “through the creation of up to P5-billion nonvoting preferred shares with a par value of P1 per share and the increase of common shares from P7.5 billion to P12.5 billion, with a par value of P1 per share,” she also said.

The company’s existing authorized capital stock is P7.5 billion, divided into 7.5 billion common shares, with a par value of P1 per share.

The stockholders also approved the delegation to the board of directors of the final terms of the issuance of the shares and the features of the preferred shares, the implementation of the proposed increase in authorized capital stock, and the creation of the preferred shares.

The company saw its attributable net income for 2021 increase 10.98% to P799.97 million from P702.81 million a year earlier.

Its total revenues reached P4.30 billion, up 15.59% from P3.72 billion in 2020.

The company is aiming to be a “dominant player” in the real estate logistics sector.

It is aiming to expand its presence across the country. It is currently present in Metro Manila, Laguna, Cavite, Batangas, Pampanga, and Laguindingan in Northern Mindanao.

The company has also said it aims to grow its warehouse gross leasable area to 500,000 square meters (sq.m.) by 2025 from its current 224,000 sq.m.

Its core business segments include industrial and logistics hubs, warehousing, cold storage, and data centers.

In 2021, the company acquired Technofreeze, Inc., a cold storage facility located in Laguna Technopark. — Arjay L. Balinbin

CSB battles SSC-R for berth in play-in phase

April 22, 2022 | 12:03 am

baste2_synergy_gma — SAN Sebastian College Stags — SYNERGY/GMA NETWORK, INC.

By Joey Villar

COLLEGE of St. Benilde (CSB) and San Sebastian battle each other on Friday for a spot in the play-in phase of the 97^th National Collegiate Athletic Association (NCAA) basketball tournament at the La Salle Greenhills Gym.

The Blazers are out to erase the stigma of a stinging 84-65 defeat at the hands of the Mapua Cardinals on Wednesday that sent the former skidding to fourth from joint third with a 4-3 card while dealing a blow to their play-in bid.

CSB also hopes to get back on its feet against an San Sebastian College-Recoletos (SSC-R) squad that is riding the crest of a 70-64 victory over Jose Rizal University (JRU) — the Stags’ third against four setbacks — on Tuesday.

Game time is at 3 p.m.

The Stags are expected to throw in the zone defense on the Blazers after the latter shot an atrocious 1-of-18 from beyond the arc in their most recent loss.

SSC coach Egay Macaraya is expecting CSB to make an adjustment in its perimeter game though.

“They are very good team, they hustle a lot,” said Mr. Macaraya.

Sweet-shooting big man JM Calma should be the focal point of the Stags’ offense as well as the backbone of their defense after the skipper who is playing his farewell season exploded for a career-high 26 points including five booming triples on top of 11 rebounds.

“I will just do my best to help the team in whatever way I can,” said the 6-5 Mr. Calma.

Meanwhile, Arellano University (2-4) and Lyceum of the Philippines University (LPU) (1-5) fight for dear play-in life as the two tackle each other at 12 p.m.