Federal Land launches Aki Tower, Mitsukoshi mall

February 22, 2022 | 12:04 am

Federal-land-mitsukoshi-mall — THE Seasons Residences will have a four-level Mitsukoshi mall, named after Japan’s oldest department store. — COMPANY HANDOUT

FEDERAL LAND, Inc. continues to expand The Seasons Residences with the launch of a third residential tower and the first Mitsukoshi mall in the Philippines.

Federal Land is developing the project, located within its master-planned community Grand Central Park in Bonifacio Global City, with Japanese firms Nomura Real Estate Development Co., Ltd. and Isetan Mitsukoshi Holdings Ltd.

The third tower of The Seasons Residences is called the “Aki Tower,” which will have 51 storeys and is inspired by Japan’s autumn season. The first two towers are called “Haru” (spring) and “Natsu” (summer), while the last will be “Fuyu” (winter).

“Each unit is carefully laid out to create a haven for rest and relaxation. The cold autumn winds in Japan inspired creativity. Thus, the Aki Tower will house a music room, a reading lounge, and a business center,” Federal Land President and Chief Operating Officer Thomas F. Mirasol said during the virtual launch on Thursday.

Units at The Seasons Residences feature Japanese innovations — from its storage system to its eco-friendly shower toilets.

The Seasons Residences will also have a modern gym, gardens, a swimming pool, a karaoke room, and a spa and wellness center.

“The most unique amenity is the guest house. The guest house also takes into consideration the Filipino culture of having close family ties,” Federal Land Head of Sales Guita Saenz-Resurreccion said.

Residents may book a three-bedroom guest house at the residential development for their visiting family members and friends.

All four towers will have Viscoelastic Coupling Dampers, “a breakthrough in earthquake vibration control technology that can withstand earthquakes and high winds, common to the Philippines and Japan.”

Meanwhile, the Seasons Residences will also house the four-level Mitsukoshi mall, named after Japan’s oldest department store.

The basement level will feature Mitsukoshi’s “signature depachika,” featuring Japanese food and related products, as well as a grocery. Depachika is a term used to describe the basement-level food markets at Japanese department stores.

“The second floor will be a lifestyle floor curated with Japanese culture. The customers will find what they need for their everyday life,” Isetan Mitsukoshi Holdings Overseas Business Promotions Department Manager Momoko Umemura said.

“We will have Japanese tenants as well as global tenants,” she added. — KCGV

Curry dazzles with 16 triples as Team LeBron wins All-Star Game

February 22, 2022 | 12:04 am

STEPHEN Curry scored 50 points and set an All-Star Game record with 16 3-point baskets to give Team LeBron a 163-160 victory over Team Durant on Sunday night in Cleveland.

Curry, playing for Team LeBron, shattered the former All-Star record of nine 3-pointers, set by Paul George in 2016. The Golden State Warriors’ star fell two points shy of the scoring record set by Anthony Davis in 2017 but still took home MVP honors with his dazzling performance.

Joel Embiid of the Philadelphia 76ers had 36 points and 10 rebounds to lead Team Durant.

LeBron James of the Los Angeles Lakers hit the game-ending shot to reach the target score and give Team LeBron the victory.

Giannis Antetokounmpo of the Milwaukee Bucks had 30 points and 12 rebounds for Team LeBron. James scored 24 points while playing in his 18^th All-Star Game, one shy of Kareem Abdul-Jabbar’s record.

Devin Booker of the Phoenix Suns added 20 points for Team Durant.

The third quarter ended with Team Durant holding a 139-138 lead. That set the target winning score at 163 with the National Basketball Association (NBA) adding 24 points to the leading total after three quarters. It is the third straight year the formula has been part of the game.

Curry’s 16^th 3-pointer gave Team LeBron a 144-139 lead. Embiid’s three-point play later pulled Team Durant within 151-150 and then he sank two free throws to give his team a one-point lead.

Antetokounmpo later scored back-to-back baskets, James added a layup and DeMar DeRozan of the Chicago Bulls hit a turnaround to give Team LeBron a 161-155 lead. Chicago Bulls guard Zach LaVine scored five straight points for Team Durant before James drained the 17-foot fadeaway jumper that gave his team the required 163 points.

Curry attempted 27 3-pointers and was 17 of 30 overall from the field.

Chris Paul of the Phoenix Suns played 2:19 for Team LeBron despite having a fractured right thumb that will sideline him for six to eight weeks. Donovan Mitchell of the Utah Jazz missed the contest due to a non-COVID illness.

Also, injured Kevin Durant (knee) of the Brooklyn Nets didn’t partake in the festivities due to the death of his grandmother earlier on Sunday.

Between halves, members of the NBA’s 75^th anniversary team were honored.

When play resumed, Curry went into lava-hot mode and knocked down five 3-pointers in 128 seconds, including shots from 37 and 33 feet. His second 3-pointer during the stretch — a 25-footer with 8:37 remaining in the third quarter — was his 10^th to break George’s record.

Curry added two more 3-pointers later in the stanza to take a total of 15 into the final quarter. Both teams scored 45 points in the third period.

Curry had 24 first-half points on a record eight 3-pointers for a half, but Team LeBron trailed 94-93 at the break. Embiid had 17 first-half points to pace Team Durant. — Reuters

Love songs old and new in Michael Bublé’s 11^th studio album

February 22, 2022 | 12:04 am

FOR the past 15 months, Canadian singer Michael Bublé wrote, played music, and recorded three songs in a day with producers Ryan Tedder and Greg Wells. The result of all this effort is his 11^th studio album, Higher, which will be released on March 25.

The album is produced by Greg Wells and Bob Rock along with Alan Chang, Jason “Spicy G” Goldman, and Paul McCartney.

“This time out, I opened myself up completely to trying new things. I dug deeper while working and surrounding myself with the greatest music makers on the planet with gigantic imaginations,” Mr. Bublé said in a press release.

“…every moment felt magical or that the universe was conspiring to bring me to this moment in time 20 years into this amazing ride I’ve been on. I have never been more excited after completing an album,” Mr. Bublé said.

Higher is the 46-year-old singer’s first studio album in three years since Love was released in 2018. The new album follows his sold-out two-year global An Evening with Michael Bublé Tour which was held in support of Love.

According to the singer, the album’s first single, “I’ll Never Not Love You,” released on Jan. 28, is the sequel to 2009’s “Haven’t Met You Yet.”

“It’s about promising to someone that if they trust you and they give you their vulnerability, that you won’t hurt them,” Mr. Bublé said during an online press conference with media from Southeast Asia on Feb. 18.

“Love is expensive. Love has a great cost. When you really love someone, you’re putting yourself at risk. And the song is saying ‘Risk that for me and I’ll love you forever’.”

Other songs in the new album include a duet with American country musician Willie Nelson on his song “Crazy.” Mr. Bublé also interprets other love songs on the album including Paul McCartney’s “My Valentine” (2012), Bob Dylan’s “Make You Feel My Love” (1997), and American soul singer Sam Cooke’s “Bring it on Home to Me” (1962).

Mr. Bublé described interpreting others’ love songs as an honor.

“[It was an honor to] know that someone that I admired so much had trusted me to hold his art and interpret a song that meant so much to him,” he said of recording Mr. McCartney’s “My Valentine,” a song that the former Beatle wrote for his wife. Mr. McCartney also produced the song for the album.

In those months spending time at home, Mr. Bublé also credits his family for bringing inspiration to one of the singles in the new album.

Mr. Bublé said the idea for one of the tracks came from his eldest son. “That song came when my eight-year-old son came into the shower when I was giving my kids’ shampoo and conditioner,” Mr. Bublé said before singing the first few lines of what eventually became the song “Higher.”

The album’s co-producer Bob Rock, who has worked with Mr. Bublé since 2007, said in a statement that this was the most focused and inspired the singer has been.

“He understood the record he wanted to make. He had a clear vision. As soon as we started, he stuck his neck out to make each song get to the place that he was hearing it in his head,” Mr. Rock said.

“I was ambitious, probably overly ambitious. The concepts met execution, and it just worked,” Mr. Bublé said of what to expect of the new album.

He ended the 30-minute online conference with the bold statement: “I’m [going to] try the best I can to live in the moment and enjoy this ride, because I may never be able to do better than this.”

The song “I’ll Never Not Love You” is available to stream at Michael Bublé – I’ll Never Not Love You (lnk.to). To pre-order the album, visit Michael Bublé – Higher (lnk.to). — Michelle Anne P. Soliman

MORE Power seeks rate hike to cover P1.33-B projects

February 22, 2022 | 12:04 am

MORE Electric and Power Corp. (MORE Power) has sought the Energy Regulatory Commission’s (ERC) approval for its proposed rate increase to recover the cost of its emergency capital expenditure (capex) projects worth P1.33 billion.

In its application posted on the ERC website on Feb. 16, MORE Power has applied for a uniform increase of P0.5498 per kilowatt-hour (kWh) over the current effective rate.

The power distributor is using the 2015 ERC-approved rate for Panay Electric Co. (PECO), the previous distribution utility in Iloilo City before the Razon-led company took over in February 2020.

“The uniform increase will be computed based on the percentage of the proposed rate adjustments to PECO’s maximum average price for Regulatory Year 2015 as approved by the Honorable Commission and as currently implemented by MORE Power based on the Order of the Honorable Commission dated 5 March 2020 in ERC Case No. 2018-019MC,” MORE Power said in its application.

If the ERC approves the suggested interim rate increase, consumers will have the following distribution charges: P0.4677/kWh for residential; P0.3659/kWh for the city government; P0.3142/kWh for city street lights; and P0.1719/kWh for other government offices.

MORE Power said a denial of its rate increase would “greatly affect” the company’s cash flow as it “has no other means of recovering” the approved costs of its emergency capex spent to improve system capacity, reliability, efficiency, safety and to implement lower generation costs.

In October 2021, the ERC approved MORE Power’s emergency projects amounting to P1.33 billion, which the company said could not be covered by its current rate. It said for the approved capex for 2020, it is entitled to recover the allowable revenue requirement estimated at P26.97 million per month.

“This is the recovery that MORE Power is deprived of on a monthly basis without the requested rate adjustment,” the company said.

MORE Power, a subsidiary of Prime Strategic Holdings, Inc., holds a 25-year franchise to energize Iloilo City, which has around 55,000 consumers. — Marielle C. Lucenio

Demand for PEZA-registered buildings remains high

February 22, 2022 | 12:03 am

THE DEMAND for Philippine Economic Zone Authority- (PEZA) registered office buildings, especially those located in Bonifacio Global City (BGC), remain high despite the pandemic.

In a press release, Leechiu Property Consultants (LPC) said BGC buildings that are registered with the PEZA have a 4% vacancy rate, as compared with the 18% vacancy rate in other business districts.

Alpha Plus Property Holdings, Inc., owner of the 32-storey Ecoprime tower on the corner of 32^nd and Ninth Avenue, is confident that the high vacancy in Metro Manila’s business districts will be “temporary.”

LPC executive director for Investment Sales Henry Cabrera said BGC now has the largest concentration of multinationals after they migrated to new buildings in Taguig such as Ecoprime, from older buildings in Makati.

“There are only two PEZA-accredited buildings in BGC available right now that can offer 10,000 square meters (sq.m.) or more of contiguous space, and Ecoprime is one of them,” he said in a statement.

Ecoprime offers 15,000 sq.m. of contiguous space suitable for large tenants, attractive business destinations.

“BGC has limited new office space supply coming in the next three years and demand will continue to grow as we recover from the pandemic,” Mr. Cabrera said.

Azkals end U23 campaign with 2-1 win over Brunei

February 22, 2022 | 12:03 am

Phil-vs-Bru-U23-2_PFF — PHILIPPINES defeats Brunei, 2-1, in Phnom Penh, Cambodia. — PFF

THE Philippines edged Brunei, 2-1, to give its Asean Football Federation Under-23 (U23) Championship campaign a bright ending Sunday at the Prince Stadium in Phnom Penh, Cambodia.

Dennis Chung and Sandro Reyes provided the goals as the U23 Azkals claimed their first victory in Group A before bowing out of the knockout stages.

The Pinoy youngsters, who earlier drew with Timor-Leste and dropped a 1-0 loss to the host Cambodians, finished third in the group with four points ahead of winless Brunei.

The Timorese beat Cambodia, 1-0, in the last game of pool play to finish No. 1 with seven markers and clinch the coveted semifinal ticket. With six points, the Cambodians settled for No. 2 and now hope to finish as the best second-placed side across the three groups to also advance.

Mr. Chung pounced on Brunei’s goalkeeping miscue off a corner to draw first blood in the 47^th minute while Mr. Reyes delivered a fine strike off Andres Aldeguer’s assist 10 minutes later for 2-0. However, Muhammad Hakeme Yazid Said found the back of the net in the 59^th to pull Brunei one back.

“We made hard work of this game. We scored two goals but we let Brunei come back,” said coach Stewart Hall. “At the very least, we finished the competition on a high with some players making their international debut.” — Olmin Leyba

John Arcilla receives his Best Actor trophy

February 22, 2022 | 12:03 am

Actor John Arcilla receives the Volpi Cup for Best Actor ----Photo by Michelle Anne P. Soliman (2) — ACTOR John Arcilla receives the Volpi Cup for Best Actor. — PHOTO BY MICHELLE ANNE P. SOLIMAN

ACTOR John Arcilla finally received the Venice International Film Festival Volpi Cup for Best Actor that he won at the 78^th Venice International Film Festival in September last year for his work on Erik Matti’s On the Job: The Missing 8.

The trophy was presented to him at the WAGI! Celebration of Filipino Excellence film screening and discussion series at the Cultural Center of the Philippines (CCP) on Feb. 18.

After the special screening of On the Job: The Missing 8, Italian Ambassador to the Philippines Marco Clemente presented the award to Mr. Arcilla.

The Venice International Film Festival, founded in 1932, is considered the world’s oldest film fest which aims to raise awareness and promote international cinemas in all its forms.

In his speech, Mr. Clemente said that the Volpi Cup is “comparable to the Oscar for Best Actor and Supporting Actor.”

“The general public do not know that the Coppa Volpi is practically another Oscar. So, it’s important to know how prestigious this award is for [John] Arcilla,” Mr. Clemente said.

Among the previous Best Actor Volpi Cup winners are Brad Pitt, Colin Firth, Liam Neeson, Joaquin Phoenix, Javier Bardem, Ben Affleck, and Sean Penn.

In his acceptance speech, Mr. Arcilla said that he always believed in acting as a noble profession.

“When we create characters, it is a study of human behavior,” Mr. Arcilla said. “When we study an era, the milieu of a certain story — for whom and when it was written, where the story took place — it is, for me, comparable to social science.

“Performances touch lives, [and] broken hearts. Performances can reach out to lost souls, can encourage decisions to spectators, to a group of people, maybe, to a community,” he added. “That’s how powerful our work is. Or I think, that’s how powerful my work is. That’s why I keep on doing what I do as an actor.”

Mr. Arcilla dedicated the award to family who died during the ongoing coronavirus disease 2019 (COVID-19) pandemic and concluded his speech by offering the win to the Filipino people. “Mabuhay tayong lahat. Ito ay para sa atin. (Long live the Filipinos. This [award] is for us.),” he said.

On the Job: The Missing 8 made its world premiere in the Main Competition for the Golden Lion at the 78^th Venice International Film Festival in 2021.

The crime drama is a sequel to On the Job (2013), a film about penitentiary prisoners who serve as assassins. Directed by Erik Matti and written by Michiko Yamamoto, the sequel follows radio journalist Sisoy Salas (played by Mr. Arcilla) who investigates the disappearance of his colleagues. It also follows Roman Rubio (Denis Trillo), a prisoner temporarily brought out of prison to carry out executions.

During a discussion after the CCP screening, Mr. Matti announced that On the Job: The Series — in which The Missing 8 plus the original film, On the Job, including never-before-seen footage from the first film, are turned into a six-part series — will be the first HBO Asia Original show to launch in HBO Max in Europe and North America on Feb. 24.

Mr. Matti added that production of a second season of the series is planned for April 2023.

“I think right now, we’re positioned to showcase Filipino talent abroad. This, hopefully, can be an awaking to our peers in the business, that we can cross our borders and showcase our talents out there and dream about bigger projects,” the film’s producer, Ronald Stephen “Dondon” Monteverde, said.

The film is scheduled to screen in more international film festivals this year, including the Fribourg International Film Festival in Switzerland and the Udine Far East Film Festival in Italy. In March, it will be the closing film at the Montañosa Film Festival 2022 in Baguio City.

On the Job: The Series is currently available to stream on HBO Go. — Michelle Anne P. Soliman

SFA Semicon earmarks $65M for five-year capex program

February 22, 2022 | 12:03 am

SFA Semicon Philippines Corp. (SSP) is allocating $65 million for its capital expenditure (capex) spending in the next five years “to help SSP take advantage of new opportunities in the global semiconductor market.”

“The CAPEX program aims to replace some of the fully depreciated machineries and equipment in its Phase 1 facility and to upgrade, as well as purchase, new machineries and equipment in both SSP’s Phase 1 and Phase 2 manufacturing facilities in Clark Freeport Zone,” the company said in a disclosure on Monday.

SSP President Joon Sang Kang said the company will be maximizing the opportunities in the global semiconductor market “in light of the accelerated digitalization of homes, businesses, consumer markets, education, and other sectors due to the global pandemic.”

The company said $10.19 million of its unrestricted retained earnings as of Dec. 31, 2021 will be used for its capex program.

SSP’s audited financial statements as of Dec. 31, 2021 show the company logged a net income after tax jump to $12.74 million in 2021, 130% higher than the $5.54 million generated the previous year.

SSP shares on Monday went up 3.42% or four centavos to close at P1.21 apiece. — Keren Concepcion G. Valmonte

Gov’t fully awards Treasury bills at higher rates

February 22, 2022 | 12:03 am

THE GOVERNMENT made a full award of the Treasury bills (T-bills) it auctioned off on Monday even as yields went up after the central bank raised its inflation forecasts.

The Bureau of the Treasury (BTr) raised P15 billion as planned via the T-bills it auctioned off on Monday as total tenders reached P35.92 billion, more than double the initial offer. However, bids were lower than the P41.23 billion seen last week.

Broken down, the Treasury bureau raised P5 billion as planned via the 91-day securities from P13.314 billion in bids. The three-month debt paper fetched an average rate of 0.899%, up by 8.9 basis points (bps) from the 0.81% seen last week.

The BTr also borrowed the programmed P5 billion from the 182-day T-bills it offered on Monday from P11.49 billion in tenders. The average rate of the six-month debt went up by 9.1 bps to 1.157% from 1.066% previously.

Lastly, the government made a full P5-billion award of the 364-day debt papers it offered on Monday as bids reached P11.118 billion. The average yield on the one-year instrument stood at 1.568%, up by 9.3 bps from 1.475% a week earlier.

At the secondary market prior to the auction on Monday, the 91- 182- and 364-day T-bills were quoted at 0.8118%, 1.0631%, and 1.5003%, respectively, based on the PHP Bloomberg Valuation Reference Rates published on the Philippine Dealing System’s website.

“Rates rose following upward adjustment for inflation this year,” National Treasurer Rosalia V. de Leon said in a Viber message to reporters after the auction.

Rates also went up due to increasing tensions in Ukraine, she added.

The Bangko Sentral ng Pilipinas (BSP) raised its inflation forecast for 2022 to 3.7% from 3.4% previously and its 2023 estimate to 3.3% from 3.2%.

Inflation risks include pork and fish supply shortages, along with the effect of higher oil prices on transport fares, the central bank said.

Meanwhile, US officials have warned that Russian troops could invade Ukraine “in the coming days,” Reuters reported. Russia’s nuclear forces held drills supervised by Russian President Vladimir Putin on Saturday.

US President Joseph R. Biden agreed “in principle” to summit talks with Mr. Putin, hinting at a possible diplomatic solution.

On the other hand, a trader in a Viber message said yields inched up on investors anticipating a rate hike from the US Federal Reserve in March.

“Dealers and investors are also attuned to the book-building of the current RTB (retail Treasury bond) offering, so some investible funds may be heading there.”

The government last week raised an initial P120.764 billion at its rate-setting auction for its offer of five-year RTBs as tenders reached P183.44 billion, or more than six times the P30-billion plan. The retail bonds fetched a coupon rate of 4.875%.

The offer period for the peso-denominated debt will run from Feb. 15 to 28. There will also be a swap offer for bonds falling due on March 14 and July 4.

Before it canceled the remaining two bond auctions for February, the BTr had planned to raise P200 billion from the domestic market this month, or P60 billion via T-bills and P140 billion from Treasury bonds.

The government borrows from local and external sources to help fund a budget deficit capped at 7.7% of gross domestic product this year. — Jenina P. Ibañez with Reuters

Malls make COVID-19 vaccination fun for kids

February 22, 2022 | 12:02 am

MORE MALLS have been turned into pediatric vaccination sites, in support of the government’s coronavirus disease 2019 (COVID-19) vaccine rollout.

Robinsons Malls has opened more pediatric vaccination sites nationwide.

“Participating Robinsons Malls were transformed into giant playgrounds where they get to banter with mascots, play games, and bring home exciting treats,” the mall operator said.

For instance, Robinsons Place Antipolo held a carnival-themed vaccination party with free ice cream and photo opportunities for superheroes.

Meanwhile, Araneta Group allowed the Quezon City government to use its New Frontier Theater for the inoculation drive for nearly 3,000 children on Feb. 20.

While waiting for their vaccines, children were entertained by mascots and given balloon twisters.

“With Araneta City being a center of leisure and entertainment, we want to incorporate this to the experience of our young vaccinees. This way, they will be less anxious and stressed before and after they receive their COVID jabs,” Marjorie Go, AVP for marketing of Araneta City, said in a statement.

LBC Ronda Pilipinas 2022 returns after one-year break

February 22, 2022 | 12:02 am

RondaPilipinas-fb — THE LBC Ronda Pilipinas will be back on the road after a one-year pandemic hiatus as it holds its 11th edition with a 10-stage race. — RONDA PILIPINAS FB

THE LBC Ronda Pilipinas will be back on the road after a one-year pandemic hiatus as it holds its 11^th edition with a 10-stage race that would be participated in by the country’s top cyclists including reigning champion George Oconer of Navy Standard Insurance.

Mr. Oconer ruled the last edition of this annual race — the 10^th anniversary edition in 2020 — and is expected to be all out to repeat as overall individual champion and pocket the top purse worth P1 million.

“It will be tough, but with the help of my team, I will do my best to win it again,” said Mr. Oconer.

Mr. Oconer will have by his side another Ronda winner, 2019 titlist and Navy skipper Ronald Oranza and a slew of serious contenders including the young and dangerous riders of Go for Gold and a veteran-laden Excellent Noodles squad spearheaded by former champions Santy Barnachea and Jan Paul Morales.

Messrs. Barnachea and Morales, who combine for five Ronda titles in all, have teamed up this year to give the fancied Navymen and Go for Gold, which will be headed by Boots Ryan Cayubit, Dominic Perez and Jonel Carcueva.

Philippine Army, Team Nueva Ecija, Dreyna, Eagle Cement, Champ Café, Bike Kings Laguna, Vantage Ilocos Norte, VPharma, Team Quezon Province and Team Ilocos Sur are the other teams seeing action vying for the P3.5-million cash purse.

Apart from the P1 million to the winner, the second placer receives P400,000 while the third gets P200,000 with the team champion pocketing P200,000 courtesy of LBC Express, Inc., MVP Sports Foundation, Quad X, Twin Cycle Gear, Standard Insurance, Print2Go, Elves Bicycles, Elitewheels, Orome, Maynilad and Garmin.

Petron Boy Kanin, Green Planet Bikeshop, Prolite, Black Mamba, Lightwater and LBC Foundation are also backing the event along with the PhilCycling and Games and Amusements Board.

The race opens with the Stage One Individual Time Trial and Team Time Trial on March 11 in Sorsogon followed by the 163-kilometer (km) Sorsogon-Legazpi City Stage Three on March 12 and 189.1km Legazpi-Daet Stage Four on March 13.

It will be followed by the 212km Daet-Lucena Stage Five on March 14 and 157.4km Lucena-Tagaytay Stage Six on March 15.

It will take a one-day respite the next day and will wind up with the 180.4km Tarlac-Baler Stage Seven on March 17, 174.4km Baler-Echgue, Isabela Stage Eight on March 18, 193.2km Santiago, Isabela-Baguio Stage Nine on March 19 and Baguio City Stage 10 criterium on March 20. — Joey Villar

Tom Holland’s Uncharted tops US box office charts with $44-Million debut

February 22, 2022 | 12:02 am

Mark Wahlberg and Tom Holland in Uncharted (2022) — A SCENE from the film Uncharted

LOS ANGELES — Sony’s long-in-the-works video game adaptation Uncharted collected $44 million over the weekend, enough to lead North American box office charts and solidify Tom Holland’s star power.

The big-budget action adventure has been positioned as a key test of Mr. Holland’s bankability outside of his blockbuster success as Spider-Man. Uncharted has received mixed reviews, at best, so it’s safe to assume the 25-year-old British actor had a healthy hand in selling tickets. It also helps that Uncharted is rated PG-13 and based on one of the most popular video games.

Directed by Ruben Fleischer, who previously led Tom Hardy’s comic book tentpole Venom to box office glory, Uncharted is expected to earn $52 million through Monday’s President’s Day holiday. It’s an impressive start in COVID times, but it doesn’t mean the film has an easy path to profitability. Uncharted carries a $120-million price tag, so international ticket sales will be key in getting out of the red.

To that end, Uncharted crucially landed a release date in China, the world’s biggest theatrical market. Visual effects-heavy action-adventures, like Uncharted, tend to play well in China. But recently the country’s censors have been ultra-selective about letting Hollywood movies screen in its movie theaters, and when the Chinese government does approve non-local product, it’s been a real mixed bag at the box office. So, the film’s success in China remains to be seen. Since Uncharted isn’t opening in China until March 14, piracy could be a concern.

Outside of China, Uncharted has been a favorite. Already, the movie has earned roughly $55 million at the international box office and has crossed $100 million globally.

“This is an excellent opening,” says David A. Gross, who runs the movie consulting firm Franchise Entertainment Research. “Action adventures based on video games are big movies, and this weekend’s figure is nearly double the average for the genre.” He adds, “Budgets run high, so Uncharted needs to connect in every market. So far, it is doing that.”

Uncharted follows the globe-trotting treasure hunter Nathan Drake and his wisecracking partner Sully (Mark Wahlberg, who was once attached to play Nathan Drake and since aged out of the role) as they embark on a death-defying quest to uncover the greatest treasure never found. — Reuters