Sky Fiber upgrades broadband plans

March 23, 2021 | 12:04 am

SKY CABLE Corp. has upgraded its home internet subscription plans as the pandemic resulted in more customers working or studying remotely and needing faster internet speeds.

“Subscribers will continue to have broadband plans from Sky that are affordable but in addition get faster speeds that will entirely meet their needs,” said Claudia Suarez, Sky’s consumer products group head, in a statement.

For a P999 monthly fee, subscribers can get up to 20 megabits per second (Mbps) from the previous speeds of 5Mbps or 10Mbps. The upgrade is also available in the other Sky Fiber unlimited broadband plan options such as its highest speed plan, which was previously at 150Mbps but has now leveled up to 200Mbps for the same price of P3,499 monthly.

“Sky Fiber’s internet plans were designed to assist Filipino households to cope with their combined demand for remote work, e-learning, online entrepreneurship, or content streaming,” Ms. Suarez added.

A plan at 40Mbps is priced at P1,499 per month, while a plan at 80Mbps is priced at P1,999 per month.

Alan Supnet, Sky’s head for consumer broadband products, said in a Zoom press launch on March 19 that Sky Fiber is “set to change the game with the challenges in the new normal.”

“With the challenges that we still face today in relation to the ongoing pandemic, we in Sky realized the importance of home internet in our daily activities. Our consumers always say that, ‘Internet is life.’ And we clamor for a reliable provider that can give them a good balance between internet speeds and price,” he said.

Sky Fiber is also offering unlimited broadband plus HD cable bundle speed plans of up to 120Mbps. For P2,999 a month, subscribers can get to smoothly stream online videos with a speed of 120Mbps from a previous speed of 60Mbps, while also having access to over 60 cable channels.

Sky Fiber also introduced the Sky Evo, a digital box that offers access to over 190 Sky cable channels, 5,000 downloadable apps, and pre-installed content streaming apps such as iWantTFC, HBO GO, YouTube, Prime Video, and Spotify.

Jose Joevel Rivera, who heads the research and product development division, said the Evo box is able to support the changing needs of customers.

“It is the first Android TV-based set to be launched in the Philippines that can support both cable, IPTV and OTP. We realize that customer-watching behavior is changing and they keep on switching from live television to on-demand,” he said.

The Sky Fiber “super speed” plans are available in Metro Manila, Bulacan, Rizal, Cavite, Laguna, Batangas, Cebu, Dumaguete, Bacolod, Iloilo, and Davao.

Baguio, Gen. Santos, and Zamboanga can experience fiber-fast speeds of up to 80Mbps. — Michelle Anne P. Soliman

Widower turned sleuth reflects on old age in Oscar-nominated Chilean documentary

March 23, 2021 | 12:03 am

BUENOS AIRES — An 83-year-old widower on a mission to investigate potential abuse at a nursing home reveals telling lessons about the trials of growing old in Chilean filmmaker Maite Alberdi’s Oscar-nominated documentary The Mole Agent.

Although the story rings like the plot of a fiction film, the drama that unfolds is real. The tender and touching feature film, nominated for best documentary, is the only Latin American nominated for an Academy Award.

With equal doses of humor and film noir, the 90-minute documentary tells the story of Sergio Chamy, a confounded but enthusiastic sleuth who barely knows how to handle a cell phone. He enters incognito into a senior home that is inhabited by elderly people from many different backgrounds finding one common denominator — loneliness.

“The detective movie is just an excuse to talk about another topic, an excuse that is both funny and an original starting point … [the film] is not about the case or the detective,” said Ms. Alberdi, 37, in an interview with Reuters by Zoom.

The intimate film questions the stereotypes of old age, using details of an universally appealing tale to reflect on the sense of abandonment felt by many elderly people who live in nursing homes. According to Ms. Alberdi, the aging population in Chile has the highest suicide rate. “Scientifically we have sought to help people live longer … everyone wants to live longer, but no one wonders what they want from that extension of life,” she said.

During the filming, the residents of the home did not know that Sergio, who took the job to distract himself after losing his wife several months before, was a “spy” and found out only after the film was finished. “When we told them what it was about and they saw it, they laughed at the situation, more than anything else, they couldn’t believe that they hadn’t realized” that Sergio was a mole, said Ms. Alberdi.

Available on Netflix, The Mole Agent premiered at Sundance, and won the Audience Award at the San Sebastian Film Festival. It was also a finalist at the Goya Awards and is the first Chilean film to be nominated for an Oscar for best documentary feature film.

Ms. Alberdi’s documentary will compete with the South African Netflix production My Octopus Teacher, Collective from Romania, and the US films Crip Camp and Time.

The director said she hopes the nomination will open doors to other Latin American women who dream of making films. “This marks a turning point not only for me but for many who will come after me (…) That is what fills me the most with pride, creating new dreams,” Ms. Alberdi said.

The Oscar awards ceremony will be held on Apr. 25. — Reuters

AllHome boosts online shopping with easy payment methods

March 23, 2021 | 12:03 am

VILLAR-led AllHome Corp. has made online and onsite shopping more convenient by providing customers with several payment options for their purchases.

In a statement on Monday, the company said customers could opt for several payment method such as: cash, debit card or credit card with zero percent interest installment for up to 12 months; mobile payment services such as AllEasy, GCash, and PayMaya; bank to bank transfers or cash on delivery for orders done online or through personal shopper service; or layaway plans through Aeon and Home Credit.

AllHome Chairman Manuel B. Villar, Jr. said the company is boosting its e-commerce platform and is offering convenient payment methods in order for more customers to have access to its products.

“By enabling customers to shop and pay online, we are also offering them the experience of shopping at their leisure. AllHome is committed to boosting consumer confidence, which is critical as the market continues to recover from the pandemic. We remain optimistic that our efforts today will create a lasting impact on our new future,” Mr. Villar said in the statement.

“With flexible payment terms and modes of payment, shoppers are in for a more hassle-free experience as they browse items for sale across AllHome’s seven categories: furniture, appliances, linen, homeware, hardware, construction, and tiles and sanitary wares,” AllHome Vice-Chairman Camille A. Villar said in the statement.

During the height of strict quarantine measures in April last year, AllHome launched its own e-commerce platform that made the company’s products available to customers across the country.

On Monday, shares of AllHome at the stock exchange fell 1.39% or 11 centavos to finish at P7.80 per share. — Revin Mikhael D. Ochave

The Executive Centre to open in Makati City in Q2

March 23, 2021 | 12:03 am

FLEXIBLE WORKSPACE provider The Executive Centre (TEC) is entering the Philippine market with a flagship office in Makati central business district.

In a statement, TEC said it will open its flagship center in Ayala Triangle Gardens Tower 2 within the second quarter.

The company is hoping to target domestic and multinational businesses looking for workspace solutions within prime locations.

“Philippines is an exciting opportunity to develop our presence globally while supporting the strategic growth of our members with our premium flexible workspace solutions that is currently lacking in this market,” TEC Philippines Country Manager Josh Alfafara said.

Mr. Alfafara noted many companies are shifting to more agile business models, and increasingly favor flexible workspaces over long-term leases.

“As we move into a ‘new normal,’ we foresee that even the most traditional of businesses will see the benefits of our unique premium flexible workspace offerings,” he said.

TEC opened in Hong Kong in 1994 and now has more than 150 centers in 32 cities and 14 markets. The company said it is the third largest serviced office business in Asia with annual turnover in excess of $237 million.

Peso seen to depreciate vs the dollar on rising US yields, global oil prices

March 23, 2021 | 12:03 am

THE PESO is expected to weaken further versus the dollar in the next three to six months amid higher US bond yields and oil prices, Fitch Solutions Country Risk and Industry Research said. — *BW FILE PHOTO*

THE PESO will continue depreciating versus the dollar in the next three to six months due to headwinds such as higher US bond yields and oil prices, as well as the fresh surge in infections, Fitch Solutions Country Risk and Industry Research said in a report.

“We believe emerging market currency volatility, including for the peso, is likely to remain elevated over the coming months, while oil prices will remain elevated will be an additional headwind to the currency,” Fitch Solutions said in a note on Monday.

It noted the peso has weakened by 1.2% as of March 16, making it an underperformer in the broader MSCI Emerging Markets Currency Index that depreciated by 0.6% in the same period.

Global developments including rising US bond yields and oil prices are expected to cause the peso to decline further versus the dollar, Fitch Solutions said. It expects the unit to move at an average rate of P48.40 per dollar this year from P47.50 previously.

“Our view for a temporary trend of higher US Treasury yields means emerging market currencies are likely to suffer, particularly in overvalued or growth underperforming markets,” Fitch Solutions said.

US benchmark yields have been rising in the past weeks, with the 10- and 30-year Treasury papers reaching their highest yields since January 2020 and August 2020 on Thursday, Reuters reported.

Meanwhile, Fitch Solutions said the increase in oil prices puts pressure on the peso’s strength as this could increase the country’s import bill.

The increase in infections here has also hurt investor sentiment in the country and local financial markets, Fitch Solutions said.

“Another lockdown could see foreign investor sentiment around the peso weaken even further,” it said.

Officials from the Bangko Sentral ng Pilipinas (BSP) meanwhile said the currency is likely to remain stable even with these risks and as the crisis drags on.

“Possible forces that can support the peso will be expected pickup in demand from the external sector as the global economy continues to improve,” BSP Department of Economic Research Senior Director Zeno R. Abenoja said in an online briefing on Friday.

The central bank last week said it expects both exports and imports to grow by 8% (from 5%) and 12% (from 8%) this year.

Last year, exports slumped 10.1% to $63.8 billion from a year earlier while imports shrank 23.3% to $85.6 billion, based on data from the Philippine Statistics Authority.

“[W]e also foresee the GIR (gross international reserves) remaining adequate, this constitutes a good factor and could also support the peso moving forward,” Mr. Abenoja added.

Latest central bank data showed GIR stood at $109.082 billion as of end-February. The BSP expects the country’s reserves to reach a record $114 billion by yearend.

“We actually have become more optimistic… All of these are going to argue of continued stability in our foreign exchange position,” BSP Deputy Governor Francisco G. Dakila, Jr. said at the same briefing. — L.W.T. Noble

Filinvest Land unit to increase overallotment option for share sale

March 23, 2021 | 12:02 am

THE board of directors of Filinvest Land, Inc. (FLI) has approved the initial public offering (IPO) of the common shares of subsidiary Cyberzone Properties, Inc., with the overallotment option increased to 163.42 million common shares from 163.08 million.

The company said a stabilizing agent or affiliate may avail of the option shares.

FLI will be offering up to 1.63 billion common shares of Cyberzone Properties through a secondary offer. Shares will be priced up to P8.30 apiece.

Same terms will apply to secondary shares and option shares.

The IPO is now going through the registration requirements of the Securities and Exchange Commission.

FLI will also need to adhere to the listing requirements of the Philippine Stock Exchange and the requirements of the revised implementing rules and regulations of the REIT (real estate investment trust) Act of 2009. — Keren Concepcion G. Valmonte

Ravers feel the music at socially distanced silent disco

March 23, 2021 | 12:02 am

BARCELONA — Barcelona ravers have found a way to get round COVID-19 curbs on clubs by holding outdoor silent discos in some of the city’s best-known locations.

On Sunday, people welcomed the first day of spring by putting on their headphones and busting some moves at Mar Bella beach along Barcelona’s famous seafront — all while respecting social distancing regulations.

“It’s been incredible, really cool. I didn’t expect there’d be so many people,” said therapist Andres Mellado, 41. “At first it seems a bit odd dancing in the middle of Barcelona and people were stopping to look, but it’s beautiful … It’s a great thing to do on a Sunday morning, come here and connect a bit to the music,” he said.

What started off as a fun meet-up between friends has grown into a regular Sunday morning event, the Tribu Silent Disco. One took place at the famous Magic Fountain in the neighborhood of Montjuic.

“(We asked ourselves) what could we do to boost dancing now that there are so many restrictions? And we had the idea to do it outdoors and with headphones,” Silent Disco co-founder Xavi Panella told Reuters.

“First we told friends and acquaintances and then people joined because we do it outdoors and in beautiful places where we don’t bother anyone and we maintain a safe distance.” — Reuters

Developers urged to adjust prices

March 23, 2021 | 12:02 am

THE GLOBAL coronavirus pandemic has affected the property industry, as foreign investments fell and projects are put on hold.

Travel restrictions and stringent bank loan standards have also hampered the property industry’s recovery.

“Developers should consider repositioning their products, readjusting their prices to suit the current market, and developing creative marketing strategies such as offering virtual house viewing in order to stay competitive during this challenging time,” Marivic Españo, P&A Grant Thornton chair and CEO, said in a statement.

On the other hand, demand for affordable housing appears strong as buyers take advantage of record-low interest rates and the slump in property prices.

“We anticipate a surge in transactions when the COVID-19 situation is more stable as we foresee a lot of first-time homebuyers and investors will be taking this opportunity to own a house for their own stay or for renting or for investment purposes,” Ms. Españo said.

In line with its ASEAN focus services launch, the member affiliates of Grant Thornton in the Philippines, Cambodia, Malaysia, Singapore, Thailand and Vietnam are holding a webinar on March 24 to give insights on the current market landscape and growth opportunities for the property industry in the ASEAN region.

Sarkunan Subramaniam, managing director of Knight Frank Malaysia, along with tax experts from Grant Thornton Philippines and other ASEAN offices, will be speaking in the webinar.

ABIC settles 2^ndpayment for PNB’s nonlife arm

March 23, 2021 | 12:02 am

ALLIED BANKERS Insurance Corp. (ABIC) has settled its second payment for its purchase of Philippine National Bank’s (PNB) nonlife insurance arm PNB General Insurers Co., Inc. (PNBGen).

The Tan-led bank told the local stock exchange on Monday that it received P450.7 million for the second installment payment from ABIC for the bank’s 65.75% stake in its nonlife insurance arm PNBGen.

The payment will be completed in three tranches, with the last one worth P450.7 million due on June 21.

“The sale of PNBGen shares is consistent with the bank’s objective to exit the nonlife insurance business being a non-core undertaking,” PNB said in the disclosure.

“The bank will remain in the bancassurance space to support its strategic growth plans and at the same time eliminate insurance underwriting risk,” it added.

PNB said proceeds of the transaction will be used for general business purposes.

PNBGen is the Tan-led bank’s nonlife insurance arm that offers coverage for fire and allied perils, marine, motor car, aviation, surety, engineering, and accident insurance, among others.

Meanwhile, ABIC is the non-life insurance arm of LT Group, Inc. The move to sell PBGen is part of LT Group’s efforts to consolidate its nonlife insurance businesses.

The share purchase agreement worth P1.523 billion was finalized on Dec. 29. The initial payment worth P521.8 million was also settled that day, followed by the first installment worth P100.156 million in January.

Based on net premiums written, PNBGen ranked 24^th (P623.89 million) in 2019 while the ABIC placed 28^th (P473 million), according to data from the Insurance Commission.

PNB saw its net income slump by 73% year on year to P2.6 billion in 2020 after increasing its loan loss reserves to P16.9 billion, five times higher than the year-ago level. It said it allocated loan loss reserves for the worst-hit sectors during the pandemic, including real estate, transportation, wholesale and retail trade to manage risk exposures.

Shares in PNB went down by 40 centavos to close at P22.85 each on Monday. — B.M. Laforga

FPH buys 712 million Lopez Holdings shares

March 23, 2021 | 12:01 am

SOME 712.2 million common shares or 15.68% of Lopez Holdings Corp.’s total issued and outstanding common shares were tendered and bought by First Philippine Holdings Corp. (FPH) through a block sale at the exchange on March 18.

FPH has submitted to the Securities and Exchange Commission its fourth amended final tender offer report on its acquisition of common shares from parent company Lopez Holdings.

The transaction amounted to P2.74 billion. FPH purchased the shares at the tender offer price of P3.85 apiece.

FPH waived the tender offer minimum prerequisite of 908.46 million issued and outstanding common shares, which is 20% of the total issued and outstanding offer shares of Lopez Holdings.

“Originally, there were other prerequisites pertaining to the delisting of the common shares of [Lopez Holdings]. Since the voluntary delisting of the common shares will no longer be pursued, these prerequisites will no longer be imposed by [FPH],” FPH said.

Lopez Holdings backed out of its plan to voluntarily delist from the exchange in January after FPH amended its tender offer.

The delisting of Lopez Holdings was dependent on the number of shares FPH will acquire.

Lopez Holdings planned to voluntarily delist if FPH acquired 45.56% of its total issued and outstanding shares. There was also a possibility of Lopez Holdings involuntary delisting if it falls below the minimum public ownership requirement of 10%.

The Lopez family’s Lopez Holdings is the holding firm for investments in broadcasting and cable, telecommunications, power generation and distribution, and banking. FPH is the parent firm for energy investments.

FPH shares at the stock exchange declined by 2.54% on Monday to close at P69.05 from P70.85 apiece, while shares of Lopez Holdings inched down by 0.29% or P0.01 to end at P3.39. — Keren Concepcion G. Valmonte

Lemcon PHL moves to ALogis warehouse

March 23, 2021 | 12:01 am

LEMCON (PHILIPPINES), Inc. signed a deal with AyalaLand Logistics Holdings Corp. (ALLHC) to take up 17,000 square meters (sq.m.) of gross leasable space in ALogis Biñan, Laguna Technopark.

The asset management solutions company will occupy 10 units of ready-built facilities for exclusive storage of infrastructure equipment for a telecommunications company. Lemcon is currently preparing the facilities for its workshops and warehouse space.

With an initial 11,000 sq.m., Lemcon is targeting to begin operations in April. Turnover of the remaining 6,000 sq.m. of the ready-built facilities is expected to be completed by July 2021.

“In our pursuit for excellence and client satisfaction, we needed to upgrade our warehouse facilities. Hence, we chose ALogis Biñan. A bright warehouse space, the facilities are located within an ideal industrial estate, with outstanding utilities and convenient access to major transport routes. Complemented with a clear and fair contract, we’re convinced that the move to ALogis Biñan in Laguna Technopark will be helpful for our sales organization and other long-term objectives,” Harsyl R. Tan, vice-president of finance at Lemcon (Philippines), said.

Laguna Technopark, which is owned and managed by ALLHC, expects 160 workers to be hired after Lemcon completes its relocation.

Other ALogis sites are located in Naic, Porac, Calamba, and Manila. ALogis Naic broke ground earlier this year.

Entertainment News (03/23/21)

March 23, 2021 | 12:01 am

Clara Benin joins Sony Music’s new Southeast Asian label

PHILIPPINE singer-songwriter Clara Benin has signed on with Sony Music Entertainment’s new Southeast Asian label, OFFMUTE. The label “offers emerging artists from across all genres a dedicated platform to pursue their own creative vision. The new label will support Southeast Asian artists in amplifying their music and building a strong pan-regional audience base through enhanced promotional, marketing and artist development, drawn from Sony Music’s global expertise and resources,” a press release explains. Signed alongside Benin are Indonesian alt-pop singer Mezzaluna and Malaysian recording star Liesl-mae. Clara Benin has amassed more than 25 million streams on combined music platforms Spotify and YouTube, and has headlined local and international music festivals, and won multiple awards including Wishclusive Contemporary Folk Performance of the Year for her song “I Rose up Slowly.” Singer-songwriter Mezzaluna, who comes from strong musical lineage, is known for her “deep, soulful vocals and an intensely personal storytelling style.” She will be releasing her debut single this year, which OFFMUTE will be amplifying across the region. Malaysia’s Liesl-mae is “making waves in the Malaysian music scene with her soothing, almost-lullaby-like tunes.” For details on OFFMUTE and its artists, visit https://www.facebook.com/offmuteASIA.

Five Films For Freedom now available via British Council

FIVE Films for Freedom, the world’s largest LGBTIQ+ digital campaign, is now available to watch on British Council’s global digital networks until Mar. 28. This year’s five short films from India, Spain, Sweden, the USA, and the UK explore emerging sexuality, trans-activism, homophobia, and genderless love. The films are free to view on British Council’s Arts YouTube channel. The British Council in the Philippines is partnering with the Film Development Council of the Philippines to bring this festival to audiences in the country. In the Philippines, Five Films for Freedom was viewed 7,000 times last year, premiering online a week after the country was placed under lockdown. This year’s campaign acknowledges that links between global LGBTIQ+ communities may have been adversely impacted by restrictions arising from COVID-19. In response, the campaign asks audiences to share the films widely using the hashtag #FiveFilmsForFreedom. Viewers are also invited to vote for their Five Films Favorite on the Five Films For Freedom homepage and select the film that resonates most for them via a web poll. The winning film will be announced on British Council social media channels prior to Mar. 28. The Five Films For Freedom 2021 are: Bodies of Desire (India), Indian poet Panikar’s work is the basis for this visual, poetic film capturing four sets of lovers in a sensual celebration of genderless love and desire; Land of the Free (Sweden) follows David and friends as they celebrate his birthday with a swim at the beach but the good mood swiftly changes after two straight couples walk by and laugh; Pure (USA) is about a young Black girl grappling with her queer identity and ideas of “purity”; Trans Happiness is Real (UK) is a documentary about transgender activists take to the streets of Oxford, England to fight anti-trans sentiments using the power of graffiti and street art; and, Victoria (Spain) which follows a bittersweet reunion between a trans woman and her ex, sparking tension and long buried resentment. Some films may contain nudity or sexual elements. Viewer discretion is advised.