Rory McIlroy hits proposed breakaway Super Golf League

May 6, 2021 | 6:39 pm

RORY McIlroy called the proposed breakaway golf circuit Super Golf League “a money grab.” — RORY MCILROY FB PAGE

RORY McIlroy doubled down on his criticism of the Super Golf League (SGL) on Wednesday, calling the proposed breakaway golf circuit “a money grab.”

The Telegraph reported on Tuesday that negotiators for those behind the SGL — previously known as the Premier Golf League (PGL) — have been in South Florida making lucrative offers to several marquee players in the range of $30 to $50 million.

McIlroy said he was first approached by representatives for the proposed league in 2014 and that while the people and source of money behind the SGL may have changed, his stance has not.

“Nothing has happened,” McIlroy told reporters on Wednesday ahead of the Wells Fargo Championship in Charlotte. “No sponsorship deals, no media deals, no players have signed up, no manufacturers have signed up. There’s been so many iterations at this point.”

McIlroy drew a comparison between the SGL and the European Super League, a proposed breakaway soccer circuit that collapsed 48 hours after its announcement following massive global backlash.

“People can see it for what it is, which is a money grab,” McIlroy said of the SGL. “Which is fine if that’s what you’re playing golf for is to make as much money as possible. Totally fine, then go and do that if that’s what makes you happy.

“I’m playing this game to try to cement my place in history and my legacy and to win major championships and to win the biggest tournaments in the world. That’s why I’m playing this game.”

McIlroy along with Brooks Koepka and Jon Rahm were among the top players to say they had no intention of joining the PGL in the spring of 2020. As the chairman of the Player Advisory Council, McIlroy applauded the PGA Tour’s creation of a $40-million Player Impact Program as a bonus pool for its 10 most popular stars.

Its design is to “recognize and reward players who positively move the needle” on fan and sponsor engagement, a Tour spokesperson told Golfweek. The $40 million will be distributed among 10 players at the end of the year, with the most valuable getting $8 million.

While acknowledging that the program was designed to get the attention of players who may have been approached by the SGL, McIlroy views it as another opportunity for the broader PGA Tour membership.

“There’s the potential for anyone to get into this top 10, right?” McIlroy said. “Like a Will Zalatoris, he was on the Korn Ferry (Tour) last year, he’s had a wonderful rise. He’s cool, he’s got a really cool look, he’s young.

“There’s a possibility, if he keeps playing the way he’s playing this year, he could be in that top 10. And to think about that, to think about this kid that’s coming up that was on the Korn Ferry like a year ago and could make that top 10, I think that’s pretty cool.”

McIlroy has previously referenced the Saudi Arabian backers of the SGL and said last year that he didn’t really like where the money was coming from. He also took issue with the timing of this week’s report of the PGL making lucrative offers, with the news breaking the same day that PGA Tour commissioner Jay Monahan was holding his annual players meeting.

Sources told GolfChannel.com on Tuesday night that Monahan told the membership at Quail Hollow Club that any player who joins the PGL would face immediate suspension and likely permanent expulsion from the Tour.

“I’m very much against it,” McIlroy said to close out his remarks about the SGL. “I don’t see why anyone would be for it.” — Reuters

Chelsea outclasses Real Madrid to reach Champions League final

May 6, 2021 | 6:38 pm

LONDON — Goals by Timo Werner and Mason Mount sent Chelsea into a Champions League final showdown with Manchester City as it outclassed Real Madrid to win, 2-0, for a 3-1 aggregate triumph at Stamford Bridge on Wednesday.

German striker Werner, who has endured a stuttering first season at Chelsea, put his side in control when he nodded in one of the easiest goals of his career in the 28^th minute after fellow German Kai Havertz had struck the bar.

Thirteen-time European champion Real, which had come through each of their last three Champions League semifinal ties, had been second best for much last week’s first leg which ended 1-1.

Even with talisman Sergio Ramos back after missing the home leg, it was outplayed by Thomas Tuchel’s side again as the German continued his stunning impact in west London to become the first coach to reach back-to-back Champions League finals with different clubs.

Chelsea should have killed the game as it created, and wasted, a sackload of chances in a dazzling second-half display.

But Mount got the party started in earnest when he converted from close range in the 86^th minute to become the second-youngest English player to score in a Champions League semifinal after Wayne Rooney.

The final in Istanbul will be the second all-English champions League final in three seasons and gives Tuchel, who has transformed Chelsea since replacing Frank Lampard in January, the chance to make up for last season when his Paris Saint-Germain side lost to Bayern Munich.

“We deserved to win. The first half was difficult, they had a lot of possession and made us suffer,” Tuchel said.

“In the second half, we could have scored so much earlier, so much more to be safe, but now is no time for criticism. It is a fantastic achievement and big congratulations to the team.

“It is not done yet, we want to go all the way, we arrive in Istanbul to win.”

Real made a confident enough start in its famous white shirts on a night that felt more like January than May with a hailstorm erupting shortly before kickoff. — Reuters

Hyde side

May 6, 2021 | 6:38 pm

Those who know — and even just know of — Kyrie Irving have come to learn to accept his Hyde side. He simply thinks differently, and the inevitable assessment has little to do with his belief that the Earth is flat. His unique wiring is why he felt the need to abandon a seemingly cushy position with the Cavaliers in 2017, and why he saw fit to bid goodbye to the Celtics two years later. It also informs his actions as a member of the Nets’ Big Three; from the prolonged sabbatical he took to his violation of health and safety protocols to his continual refusal to make himself available to the media, he chooses to march to the beat of his own tune. And the clincher is that he does so with equal parts defiance and pride.

Irving is, of course, entitled to live his life the way he wants. He certainly has both the opportunity and the wherewithal to do so. But there’s a flipside, and his refusal to acknowledge it has cost him and those around him. Ask the Cavaliers and Celtics, whose futures were negatively impacted by his departure. And ask the Nets, who are compelled to keep on adjusting to him depending on which side of the bed he wakes up. It has resulted in tangible losses, literally and figuratively.

Make no mistake. Irving is worth all the trouble. For all his seeming minuses, he’s a wizard with the ball in his hands; he may be only 6’2”, but there’s no one better at mixing style with substance in making leather and nylon meet. Again and again. Which is why the Nets find value in adjusting to his whims, not to mention absorbing the fines they incur with every transgression he makes. Never mind that he does nobody any favors when he says he has no time for “pawns,” and that he exposes himself as hypocritical at best when he claims “I’m here for Peace, Love, and Greatness.”

At this point, the Nets are hoping their sacrifices will ultimately pay off with the Larry O’Brien Trophy. That they’re a mere two games behind the pacesetting Sixers in the East speaks volumes of their intrinsic competitiveness. To be sure, their strengths have never been in question; the presence of former Most Valuable Player awardees Kevin Durant and James Harden make them prohibitive favorites for the championship. All things considered, their weaknesses will define their campaign, and Irving would do well not to get himself counted as one. Else, they need not look beyond their own locker room to find the biggest threat to their title aspirations.

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is a consultant on strategic planning, operations and Human Resources management, corporate communications, and business development.

SM and Pasay LGU to build one of the biggest vaccination centers in the Philippines

May 6, 2021 | 4:37 pm

sm image — Preparations are underway for the giga vaccination hub at the Galeon in MOA Complex, Pasay City

SM, together with National University, and the local government of Pasay City have partnered for ‘Vacc to the Future’ program to build one of the biggest vaccination centers in the country which will accommodate around 2,000 individuals per day.

“We are very happy to partner with the Pasay local government unit for this project,” said SM Supermalls president Steven Tan. “With the vaccine center, this will greatly help in doubling efforts to hasten the vaccination of our community members, especially the medical frontliners, the elderly, and those who have co-morbidities.”

Pasay Mayor Emi Calixto-Rubiano said that the partnership with SM Supermalls is a win for the city as they work hard to accommodate as many people as they can for COVID-19 vaccinations with this milestone project.

SM and Pasay City government join hands for ‘Vacc to the Future’ vaccination program.

“We hope that our partnership with SM will encourage more people to sign up and get the vaccine so that we can slowly return to our normal lives. We all want to live safely and connect with our families and friends in person. We would like to thank SM Supermalls for making this possible,” said Calixto-Rubiano.

The facility is also fitted with an air-conditioning system and will soon feature a drive-through section for vaccination.

SM, in partnership with various LGUs, has rolled out multi-mall vaccination program with over 30 SM malls nationwide which were identified as partner vaccination sites. SM has ongoing vaccination activities in over 10 malls but will activate more and resume others once vaccines in some areas have arrived and become available.

Since the start of the pandemic, SM Supermalls has been at the forefront of helping Filipinos. Many SM malls have served as COVID-19 testing sites in partnership with the Philippine Red Cross.

The company has also donated beds, linens, and pillows to schools, such as Ateneo de Manila, the University of the Philippines, and other institutions who turned some of the classrooms and dormitories into COVID-19 facility wards.

For more information, visit www.smsupermalls.com.

Globe Business teams up with enterprise and SME partners to honor medical frontliners through food drive

May 6, 2021 | 3:51 pm

In celebration of International Labor Day, Globe Business, together with its corporate and SME partners, donated over 2,000 food packs to honor the hard work of medical frontliners who have relentlessly provided care for COVID-19 patients.

“In these trying times, we dedicate our Labor Day celebration to our medical frontliners whose resilience, bravery, and service continue to inspire us to remain hopeful. These modern-day heroes deserve our gratitude and support,” shared Peter Maquera, Senior Vice President for Globe Business. “Together with our partner companies, we were able to donate food packs to hospitals. This allowed us to not only show our appreciation to medical workers but also support local SMEs.”

Healthcare workers and staff of various hospitals in Metro Manila will benefit from this initiative. These hospitals include Pasay City General Hospital, Pasig City General Hospital, Philippine Lung Center in Quezon City, and San Lazaro Hospital.

For Globe Business, Labor Day is an opportunity to recognize the sacrifices of Filipino health workers in tirelessly facing the risks of the pandemic. It is also a chance to show support to them especially in this difficult time.

“Beyond the adversity, what’s amazing is how we help each other to power through regardless of the situation,” said IssaGuevarra-Cabreira, Globe Telecom’s deputy Chief Commercial Officer, in a video message thanking the company’s enterprise partners. “As business leaders, innovators, and visionaries, we inspire and motivate our employees and communities to make great strides through the crisis while keeping them safe and supported. Together, we will continue to persevere to overcome this crisis.”

For years, Globe has championed its cause of building a better world and staying true to its purpose of creating a “Globe of Good”, which is aligned with the United Nations’ Sustainable Development Goals (UN SDGs).

To support one of the UN SDGs, which is to propel economic growth and development through infrastructure and innovation, Globe commits itself to drive initiatives that promote resilience, collaboration, and digital solutions, that will empower businesses to use their resources to uplift individuals, families, and communities as they rise beyond the pandemic.

To learn more about our enterprise solutions, get in touch with your Globe Business Account Manager or visit our website today.

The Iconic Clinic celebrates 10 years of unparalleled beauty

May 6, 2021 | 3:19 pm

In 2011, The Icon Clinic first introduced itself in the Philippines by Dr. Eric “Yappy” Yapjuangco, a board-certified plastic surgeon performing all types of plastic surgery. Ten years later, the standalone clinic in San Juan’s heart is now one of the sought-after aesthetic clinics in the country known for various types of plastic surgery and skincare procedures.

Looking back on The Icon Clinic’s humble beginnings, Doc Yappy didn’t have a considerable marketing budget to promote The Icon Clinic when starting in the early 2000s. But he saw an opportunity on the Internet to create positive buzz, as social media then was beginning to become more influential and a constant growing fixture in almost everyone’s lives.

“I can’t pay a personality to show off my results,” Eric reminisces, “so, I used Facebook and Instagram to show before and after photos of patients who underwent my procedures.”

To this day, Doc Yappy continues to proudly and confidently promote his clinic and services on social media. In the process, his efforts have drawn more than 186,000 online followers and counting. It was only a matter of time before this growing online following find their way at The Icon Clinic’s front door.

These days, The Icon Clinic offers almost all forms of plastic surgery. Two of its most in-demand procedures are Rhinoplasty, plastic surgery performed to enhance the nose, and the Brazilian Butt Lift, a procedure which makes use of a person’s excess body fat that’s extracted through liposuction and reinserted, this time in the butt, to give the patient’s posterior more oomph through added volume.

Seeing Doc Yappy’s patients’ lives turn for the better is his most significant motivator in pushing the envelope in the competitive and ever-changing aesthetics surgery industry.

“What we are most proud about the company is how we were able to grow it from zero to one of the most trusted brands in the beauty industry. Most importantly, we are proudest with how we were able to have changed and affected thousands of lives for the better,” Doc Yappy shares.

To those who have yet to visit The Icon Clinic and even for the regular customers, you can expect more of the clinic’s latest innovations.

“We commit to increasing more of our roster of thousands of satisfied patients….. for Derma, we’ll launch more relevant treatments attuned with the ever-changing beauty needs of patients,” Doc Yappy concludes.

In celebration of The Icon Clinic’s 10th year anniversary, there will be a monthly giveaway of exclusive services! If you want to join and be one of the lucky winners, all you have to do is follow @docyappy on Facebook and Instagram, comment on the giveaway posts as to why you deserve to win. Here are the prizes for each month:

March: 1 lucky winner of Rhinoplasty

April: 3 lucky winners of Ultimate Underarm Whitening

May: 3 lucky winners of Underarm Botox

June: 1 lucky winner of Breast Augmentation

July: 1 lucky winner of Thermitight

August: 1 lucky winner of Icon Luxe Facial

September: 1 lucky winner of Hydrafacial

October: 1 lucky winner of Alma Diode Hair Removal

November: 1 lucky winner of ThermiVa

December: 1 lucky winner of Brazilan Butt Lift

For more information, please visit @docyappy on Facebook and Instagram.

China suspends economic dialogue with Australia as relations curdle

May 6, 2021 | 2:40 pm

BEIJING – China “indefinitely” suspended on Thursday all activity under a China-Australia Strategic Economic Dialogue, its state economic planner said, the latest setback for strained relations between the two countries.

“Recently, some Australian Commonwealth Government officials launched a series of measures to disrupt the normal exchanges and cooperation between China and Australia out of Cold War mindset and ideological discrimination,” China’s National Development and Reform Commission (NDRC) said in a short statement on the decision.

The commission did not say in the statement what specific measures prompted the action.

The Australian dollar fell sharply on the news, and was as low as 0.7701 to the U.S. dollar from Wednesday’s $0.7747.

Bilateral ties were strained in 2018 when Australia became the first country to publicly ban Chinese tech giant Huawei from its 5G network. Relations worsened last year when Australia called for an independent investigation into the origins of the novel coronavirus, prompting trade reprisals from China.

Australian Trade Minister Dan Tehan said the decision by the commission was “disappointing” because the economic dialogue was “an important forum for Australia and China to work through issues relevant to our economic partnership”.

“We remain open to holding the dialogue and engaging at the ministerial level,” he said in a statement.

The last meeting was in Beijing in 2017, when Australia’s trade minister signed an agreement on cooperation on Belt and Road projects in third-party countries.

Australia has, however, declined to sign agreements on direct participation in China’s flagship foreign policy initiative.

In April, Canberra cancelled two Belt and Road cooperation deals struck by the state of Victoria, prompting the Chinese embassy to warn that ties were bound to worsen.

Australia’s federal parliament granted veto power over foreign deals by states in December amid the deepening diplomatic dispute with China, which has imposed a series of trade sanctions on Australian exports ranging from wine to coal.

Successive Australian trade ministers have been unable to secure a phone call with Chinese counterparts since diplomatic tensions worsened in 2020.

In the 12 months to March, Australia exported A$149 billion ($115 billion) worth of goods to China, excluding services, of which iron ore was by far the largest product.

Experts expect the bilateral strains would not have a major impact on the iron ore trade.

“We believe the iron ore trading relationship between Australia and China will remain ring-fenced in relation to current political tensions between the two nations,” said Atilla Widnell, managing director at Singapore-based Navigate Commodities Ptd Ltd.

“This is a co-dependent relationship whereby either party cannot survive without the other.”

Matt Bekier, CEO of No.2 Australian casino operator Star Entertainment Group Ltd, which relied on Chinese tourists as a key revenue source until Australia closed its borders due to the pandemic, told the Macquarie Australia Conference he was unconcerned about China’s suspension of the Strategic Economic Dialogue.

“I’m probably a bit more optimistic that people will do what they’ll do. That’s not to say that (there won’t be) a number of months of challenges in the government relations,” he told the conference in Sydney. – Reuters

COVID curbs reinstated in Sydney as Australian officials trace mystery case

May 6, 2021 | 2:34 pm

SYDNEY – Australian officials reinstated social distancing measures across greater Sydney on Thursday, as they scrambled to find missing tranmission links in a COVID-19 case connected to an Indian variant of the virus.

With many people expected to gather over the weekend for annual Mother’s Day celebrations, the New South Wales state government restricted household gatherings to 20 guests and limited aged care facility visitors to two people per resident.

Masks will be mandatory on public transport and at indoor venues. All the restrictions, which cover around 5.3 million people in the country’s biggest metropolitan area, take effect at 5 p.m. local time and are scheduled to last until Monday morning.

“We believe this is a proportionate response to the risk we have ahead of us,” NSW Premier Gladys Berejiklian told reporters.

The measures, which also cover Sydney’s neighbouring regions of Wollongong, the Central Coast and Blue Mountains, were spurred by the detection of COVID-19 in a 50-year-old man, who passed the infection to his wife.

The case, the first local transmission in NSW in more than a month, baffled health officials given the man had no known links to high-risk jobs or people.

Testing has determined the man was infected with a variant first detected in India and genomic sequencing had linked the case to a returned traveller from the United States, NSW Chief Health Officer Kerry Chant said on Thursday, but there was no clear transmission path between the two people.

“We can’t find any direct link between our case, so what we’re concerned about is there is another person that is as yet unidentified that infected our case,” Chant said.

It appeared to be the first time officials had reported the local transmission of an India virus variant in Australia.

Tests on the infected man had showed a higher viral load than typically seen in infected people, potentially increasing the chance that the man has spread the disease, officials said.

NSW Treasurer Dominic Perrottet entered self-isolation on Thursday after he visited a restaurant at the same time as the infected person, classifying him as a close contact, his office said. Perrottet, who attended a sitting of state parliament on Wednesday, has tested negative.

Authorities also asked thousands of residents in the city’s inner west to seek testing for any mild flu symptoms after fragments of the coronavirus that causes COVID-19 were detected in the sewerage network used by several suburbs.

Speedy tracing systems, movement curbs and border restrictions have largely reined in the spread of COVID-19 in Australia, which has recorded 29,865 cases and 910 deaths since the pandemic began.

INDIA BAN

The federal government is currently under pressure to overturn a temporary travel ban on travellers, including its own citizens, from COVID-ravaged India. Australia has blocked all direct flights from the country until May 15.

A report in the Sydney Morning Herald newspaper on Thursday, citing unidentified sources, said at least two repatriation flights will be dispatched to India every week from the middle of this month to bring home around 9,000 Australians.

Prime Minister Scott Morrison, however, said the situation would be constantly reviewed.

“We are not going to commit to that at this point,” Mr. Morrison told radio station 3AW on Thursday. – Reuters

Blue Origin opens up bidding for first ‘spectacular’ space tourism trip in July

May 6, 2021 | 1:55 pm

SEATTLE – Blue Origin, billionaire Jeff Bezos’ rocket company, said on Wednesday it is targeting July 20 for its first suborbital sightseeing trip on its New Shepard spacecraft, a landmark moment in a competition to usher in a new era of private commercial space travel.

Blue Origin also said it will offer one seat on the first flight to the winning bidder of a five-week online auction, the proceeds of which will be donated to the space firm’s foundation.

The New Shepard rocket-and-capsule combo is designed to autonomously fly six passengers more than 62 miles (100 km) above Earth into suborbital space, high enough to experience a few minutes of weightlessness and see the curvature of the planet before the pressurized capsule returns to earth under parachutes.

The capsule features six observation windows Blue Origin says are nearly three times as tall as those on a Boeing 747 jetliner and the largest ever used in space.

“The view will be spectacular,” Blue Origin’s Director of Astronaut Sales, Ariane Cornell, told a media briefing.

After its first flight in July, Cornell said Blue Origin would have “a couple more” crewed flights before the end of the year. She declined to disclose details of the ticket price, which has been a closely guarded secret inside the company for years.

Reuters reported in 2018 that Blue Origin was planning to charge passengers at least $200,000 for the ride, based on an appraisal of rival plans from billionaire Richard Branson’s Virgin Galactic Holdings Inc and other considerations, though its thinking may have changed.

Wednesday’s announcement follows years of testing and development work that has included delays.

Cornell said Blue Origin would “love” to increase the frequency of its tourist spaceflights and add launch locations, possibly outside the United States, depending on demand. For July’s flight, the reusable New Shepard booster will launch and land in West Texas.

Celebrities and the uber-rich appear to be the core market for space tourist jaunts, at least initially. Cornell told reporters the most likely candidates would be “very clear on our radar.”

Only 569 people had ever been into space, she said, adding that “we’re about to change that dramatically.”

But she declined to say when – or if – Bezos, a lifelong space enthusiast and currently the world’s richest person, will take a trip on New Shepard.

Virgin Galactic also aims to fly private customers in early 2022, after a first flight with Branson on board later this year.

Its zero-gravity experience is anchored by its SpaceShipTwo plane, and the company has ambitious plans to offer point-to-point travel between far-flung cities at near-space altitudes.

Virgin says it will charge more than $250,000 for new reservations but has not announced final pricing. Sales will reopen following Branson’s flight.

Meanwhile, a college science professor and an aerospace data analyst are among a four-member crew for a launch into orbit planned later this year by Elon Musk’s SpaceX, part of a charity drive billed as the first all-civilian spaceflight in history.

Blue Origin has fallen far behind SpaceX on orbital transportation, and lost out to SpaceX and United Launch Alliance (ULA) on billions of dollars’ worth of U.S. national security launch contracts which begin in 2022.

But its space tourism announcement provides Bezos, who founded Amazon.com Inc, needed momentum while it protests SpaceX’s $2.9 billion contract under NASA’s high-profile program to return Americans to the moon in coming years.

Regulatory filings revealed that Bezos sold Amazon shares worth about $2 billion this week as a part of an arranged trading plan. Bezos, who will step down as CEO in a few months, has been unloading shares of the company he founded and had also said he would sell shares worth $1 billion to fund Blue Origin projects. – Reuters

Investor group in exclusive talks to acquire Forbes for $650 mln – source

May 6, 2021 | 1:30 pm

An investor group led by U.S. merchant bank GSV’s CEO Michael Moe has entered into exclusive negotiations to acquire business news and information publisher Forbes Media LLC for about $650 million, a person familiar with the matter said on Wednesday.

A deal could result in Forbes’ ownership changing hands seven years after Hong Kong-based investor group Integrated Whale Media Investments purchased 95% of the company. The remainder is owned by the Forbes family.

Moe’s consortium has about a month to clinch a deal with Forbes before the exclusivity period expires, the source said, cautioning that no deal is certain.

A Forbes spokesman said: “We have no comment, but investors have consistently shown interest in Forbes, which has produced three years of record results. 2021 is shaping up to be a strong year as well.”

GSV did not respond to a request for comment.

Reuters reported last week that Moe was leading a bid to acquire Forbes. Bloomberg News reported the exclusive negotiations earlier on Wednesday.

Forbes was valued at $475 million in 2014 when Integrated Whale Media bought a majority stake in the company from the Forbes family and investment group Elevation. Chinese conglomerate HNA Group made an unsuccessful bid to acquire a majority stake in Forbes in 2017, Reuters reported at the time.

As one of the oldest media outlets in the United States, Forbes publishes its flagship magazine which reaches six million readers. Founded by B.C. Forbes in 1917, it has long championed capitalism and entrepreneurship and is known for its annual list of the world’s wealthiest people.

The company has been undergoing a digital transformation amid declining print revenue. It has been doubling down on expanding key franchises like Under 30 and live events, most of which have become virtual during the COVID-19 pandemic. It says its digital platform now reaches more than 140 million people with 40 global editions. – Reuters

Lamudi brings together the biggest lineup of developers with exclusive deals at Online Housing Fair

May 6, 2021 | 1:00 pm

Lamudi’s survey of property seekers in the first quarter of 2020 revealed that 91% of respondents want financial help from property developers, with 46% looking for discounts, 31% for promos, and 23% interested in a smaller down payment. Responding to this need from the market, the leading real estate partner brings its housing fair online this May with not just the biggest lineup of developers, but also special deals and exclusive property discounts.

For the real estate industry, the first quarter of 2020 saw some of the hardest struggles, with the Taal volcano eruption happening in January, growing concerns about the novel coronavirus in February, and the subsequent announcement of the enhanced community quarantine (ECQ) midway through March.

Surveyed property seekers last year mentioned they were keeping their property buying time frame open, with 34% considering a property purchase a year after the start of the pandemic. Monitoring property demand on Lamudi across all price points, most price segments experienced year-on-year dips in pageviews on Lamudi in 1Q2020. Demand one year later in 1Q2021 points to recovery across all prices, with high-end properties proving most resilient during a time when cash is king, while the affordable segment showed the dream of homeownership is alive amid a health crisis.

High-end properties for sale lead recovery in the residential market

The luxury market, the only segment that posted positive year-on-year growth in pageviews in 1Q2020, saw a 33.7% average growth in pageviews year-on-year in 1Q2021. Leads for the luxury segment were particularly strong in 1Q2020 compared to 1Q2019, with houses priced over 20M posting a 222% growth. This grew by an additional 18% in 1Q2021.

As the country faced unprecedented challenges which highlighted the importance of cash, those with more purchasing power took the opportunity to consider investing in real estate — a financial move advised by investors during times of crisis.

Laborers showed strong desire to own a home amid the pandemic

Even outside the luxury segment, the importance of owning a home proved strong amid the pandemic. For affordable houses for sale, properties priced less than 450K saw a 46% growth in pageviews in 1Q2021 compared to 1Q2020, posting the highest recovery rate in the affordable segment. Property seekers realized the importance of owning a home when mobility restrictions were put in place. The proximity of one’s home to essential establishments and place of employment greatly affected their mobility, comfort, and capacity to work at such a critical time.

Houses in this price range were also the second most inquired property in 1Q2020 compared to 1Q2019 at 128% growth in leads, which continued to grow by 38% in 1Q2021.

Pandemic property demand calls for safe property search at home

The interest across all price segments fueled Lamudi’s decision to bring its much-anticipated housing fair online this May. As property buyers revive their confidence in investing in real estate, the free event will help them get the best value for their money through special deals and exclusive offers from featured developers. Since 2016, Lamudi has been organizing housing fairs in various cities across the country, bringing real estate seekers closer to their dream properties. Previous housing fairs were held in shopping malls, including SM Mall of Asia, TriNoma, SM City Cebu, and Glorietta — a setup that would not be ideal in the new normal.

Seeing the demand for homeownership bounce back in 2021, Lamudi has decided to host the first and biggest online housing fair in the Philippines through a digital platform showcasing exclusive offers from property developers such as RLC Residences, AboitizLand, Federal Land, Shang Properties, Prime Homes, Solar Resources, PH1 World Developers, ACM Homes, DMCI, and PIK, as well as the real estate brokerage PropertyPro.

Sponsored by Nook, Kamada, and the Subdivision and Housing Developers Association, Inc. (SHDA), the Online Housing Fair will officially open on May 3 and last until May 31, 2021. The event’s official media partners are BusinessWorld and Mindanao Times.

The online housing fair will feature the Pag-IBIG Fund to talk about affordable housing loan programs, and Atty. Siegfrid S. Suarez, the Legal and Compliance Officer of Lamudi Philippines, to answer land title transfer concerns. Renelyn Tan-Castillejos, a Certified KonMari Consultant and the founder of World of Yorokobi, will teach attendees how to tidy and organize their homes. Clean All PH and Happy Helpers will also give valuable advice on how to deep clean and sanitize the home in the new normal, and SoFA will be sharing home interior design tips. Learn to start your own garden at home with tips from ZassyGreen – All About Plants.

A first in the history of Lamudi, the online housing fair marks a significant milestone for the company. CEO Kenneth Stern said, “For the past years, Lamudi’s housing fairs have been held in malls all over the country. Our team has been working hard to address the limitations to property buying brought on by the pandemic, which is what led to us deciding to bring the housing fair online.”

Visit the Lamudi online housing fair through this link.

Monde Nissin gets investor commitments for $1-B IPO

May 6, 2021 | 11:06 am

SINGAPORE – Philippine food maker Monde Nissin Corp has secured investor commitments for a $1 billion initial public offering (IPO) at P13.50 ($0.28) each, in what would be the country’s biggest IPO on record, three sources familiar with the matter told Reuters on Wednesday.

The owner of meat alternative Quorn had flagged the sale of up to 3.6 billion primary shares at a maximum price of P17.50, but Philippine IPOs are rarely set at their top price.

A spokesman for Monde Nissin declined to comment.

“Monde could have priced the IPO higher but it was best to leave some money on the table in these choppy markets,” said one person who did not want to be identified as the fixed price has not been announced.

More than a dozen cornerstone investors, including some of the world’s largest asset managers are backing the IPO, the sources said.

The Philippines, a historical laggard in Southeast Asia in terms of capital market fundraising, is shaping up as the region’s biggest IPO market of 2021, despite local equity markets falling nearly 12% so far this year.

Monde Nissin is looking to finalise agreements with its cornerstone investors this week before formally opening books for the $1 billion IPO next week, said two of the sources.

Including an overallotment option of 15%, Monde Nissin’s IPO is set to raise P55.89 billion or $1.16 billion.

The firm is banking on growing demand for both consumer staples and higher-value products.

Lucky Me! is an iconic local brand, while British meat substitute Quorn, which Monde Nissin bought in 2015 for $831 million, gives it a foothold in the healthy food category. — Reuters

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