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UnionBank posts 9% increase in net profit

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UNIONBANK of the Philippines, Inc. recorded a higher net income in 2021 as revenues improved and its loan loss provisions declined.

The Aboitiz-led lender’s net profit rose by 9% year on year to P12.6 billion in 2021, it said in a filing with the local bourse on Monday.

Net interest income increased by 4% year on year to P29.8 billion in 2021. This was backed by its net interest margin, which improved by 9 basis points to 4.6% amid lower funding cost due to the increase in current account, savings account (CASA) deposits.

UnionBank’s total deposits increased by 8% to P570.5 billion as of end-2021, driven by the record 32% growth of CASA deposits to P341 billion.

Meanwhile, non-interest earnings increased by 14% to P15.3 billion, backed by higher fees, service charges, as well as foreign exchange gains, and trading income.

UnionBank’s loans and receivables rose by 6% year on year to P359.8 billion as of end-2021, while total assets grew by 7% to P831.1 billion.

The bank’s nonperforming loan ratio improved to 5% at end-2021 from 5.1% a year ago. It set aside loan loss provisions worth P5.8 billion in 2021, down by 31% from a year earlier.

“Our performance in 2021 gives us a good foundation for further growth in 2022. We expect a healthy expansion in our loan portfolio, steady margins from strong CASA growth, improving credit quality, and higher revenues across our business groups this year,” UnionBank Senior Executive Vice-President and Chief Financial Officer Jose Emmanuel U. Hilado was quoted as saying in the statement.

In December, UnionBank said it will buy the local retail unit of Citigroup, Inc. for P55 billion.

UnionBank also secured approval from the Bangko Sentral ng Pilipinas in July to operate a digital bank. This wholly owned subsidiary will be called Union Digital Bank which is on track for commercial launch by the middle of 2022, UnionBank President and Chief Executive Officer Edwin R. Bautista said.

“Together with our digital initiatives, our top priority in 2022 is the smooth transition and migration of Citi’s consumer banking business. We are committed to uphold Citi’s superior customer experience and provide a new home for all Citi employees in UnionBank,” Mr. Bautista said.

The Aboitiz-led lender’s shares closed at P100.60 apiece on Monday, up by P2.90 or 2.97% from its previous finish. — L.W.T. Noble

BPI net income climbs 11.5% in 2021

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BANK OF THE Philippine Islands (BPI) booked a P23.88-billion net profit in 2021 as the decline in its loan loss buffers and higher fee income offset lower interest earnings.

The bank’s net income was up by 11.5% from a year earlier, it said in a filing with the local bourse on Monday.

This translated to a return on equity of 8.4%, while return on assets stood at 1.1%.

For the fourth quarter alone, BPI’s net income improved by 51.2% year on year to P6.4 billion, the bank said.

BPI’s net interest income in 2021 fell by 3.7% year on year to P69.58 billion from P72.3 billion. This was dragged by its net interest margin, which dropped by 19 basis points to 3.3% due to lower yields across most loan portfolios and treasury assets.

Meanwhile, non-interest income decreased by 5.5% year on year to P27.82 billion in 2021. This, as the 23.2% rise in fee earnings could not offset the decline in trading income.

BPI’s revenues dropped by 4.2% year on year to P97.4 billion in 2021.

On the other hand, the bank’s operating expenses rose by 5.4% to P50.73 billion from a year earlier amid higher technology cost. This brought its cost-to-income ratio to 52.1%.

Total loans rose by 4.9% year on year to P1.48 trillion as of end-2021, backed by growth in mortgage, credit card, and microfinance credit.

BPI’s nonperforming loan (NPL) ratio improved to 2.49% as of end-2021 from 2.68%, while NPL coverage ratio rose to 136.1% from 115.2% a year earlier. The bank’s loan loss provisions dropped by 53.1% to P13.13 billion from P28 billion in 2020.

Meanwhile, the bank’s deposits rose by 13.9% to P1.96 trillion as of end-2021, boosted by the increase in its current account, savings account (CASA) (10.3%) and time deposits (28.2%). BPI’s CASA ratio stood at 77%, while loan-to-deposit ratio was at 52.1%.

BPI’s assets increased by 8.4% year on year to P2.42 trillion, while total equity stood at P293.06 billion as of end-2021.

The bank’s common equity Tier 1 ratio was at 15.8%, while its capital adequacy ratio stood at 16.7%, which are both above minimum regulatory requirements.

BONDS
Meanwhile, BPI raised P27 billion in fresh funds through its bond offering, where proceeds will be used to fund its corporate needs and refinance its debt.

The papers were oversubscribed by five times versus the initial target issue size of P5 billion, the bank said in a separate filing with the local bourse on Monday.

The papers have a tenor of two years and an interest rate of 2.8068% per annum which will be paid quarterly.

BPI ended the offer period for the bonds a week earlier than the original schedule amid the high demand.

BPI Treasurer Dino R. Gasmen earlier said that proceeds from the issuance will fund the bank’s general corporate needs as well as debt refinancing, while a part will be used to boost BPI’s digitalization.

The issuance is the fourth tranche under BPI’s P100-billion bond program.

The bonds were sold for a minimum investment of P1 million and increments of P100,000 thereafter.

BPI Capital Corp. and The Hongkong and Shanghai Banking Corp. (HSBC) were the joint lead arrangers for the offering. BPI Capital served as the selling agent for the bonds, while HSBC was a participating selling agent.

BPI shares closed at P98.10 apiece on Monday, down by P1.20 or 1.21% from its previous finish. — Luz Wendy T. Noble

Office leasing activity to remain subdued

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INFORMATION technology-business process management (IT-BPM) firms are expected to drive demand for office spaces this year, although overall office leasing activity is likely to remain subdued in the first half of 2022, JLL Philippines said.

“For the office market, we’re seeing signs of market stability. For Q4 2021, what we saw was a moderate take-up of 75,713 square meters (sq.m.) in gross leasing volumes,” JLL Philippines Head of Research and Consulting Janlo C. de los Reyes said in a briefing last week.

While lower than previous quarters, Mr. De los Reyes noted sentiment has improved.

IT-BPM companies were the key office market drivers in the fourth quarter and accounted for 62.5% of the overall office take-up in 2021.

However, the work-from-home guidelines implemented by the Philippine Economic Zone Authority (PEZA) for ecozone locators may curb the IT-BPM sector’s expansion this year.

“A lot of the IT-BPM occupiers have deferred their dealing decisions until they have clarity with regard to the guidelines set by PEZA… In the third quarter of last year, we saw pick-up in terms inquiries by a lot of the IT-BPM companies as they are waiting on the PEZA moratorium decisions. And with that being deferred to March 2022, we saw leasing activity go down,” Mr. De los Reyes said.

The Fiscal Incentives Review Board extended the remote work arrangements for IT-BPM firms located within PEZA ecozones until end-March. Under the guidelines, outsourcing firms are allowed to have most of their workforce at home until March but they must have 10% of their employees on site.

“We do expect the same narrative for this coming March. We do think that the PEZA may further extend the moratorium given the Omicron variant as well as the market performance over the next coming months,” Mr. De los Reyes said.

He noted many occupiers are now embracing a hybrid work model, “meaning they’re open to having a percentage of their workforce work remotely.”

Also, the upcoming May elections may dampen office leasing activity at least within the first half.

“We might see leasing activity slowdown as more investors as well as occupiers postpone their leasing decisions as they wait and see whether policies might change in relation to their portfolio and investment decision,” Mr. De los Reyes said.

Aside from IT-BPM sector, technology, e-commerce, and logistics companies are also expected to fuel office space demand this year.

Philippine Offshore Gaming Operators (POGOs), which drove the office market pre-pandemic, are anticipated to make a comeback.

“I think POGOs may return but definitely not the same size as the previous period. I think what we may see that there is also a bit of apprehension from landlords,” Mr. De los Reyes said.

Meanwhile, JLL Philippines said newly built real estate spaces is expected to “exert pressure on real estate recovery,” as this would dampen the market in the short term as demand would not support supply.

The property services firm expects 838,000 sq.m. of new office spaces, retail expansion of 497,000 sq.m., 23,000 sq.m. of new residential spaces, and 7,000 sq.m. for the hospitality sector.

“Everyone was looking at 2021 as the recovery year for the market, but I think it was still part of our journey to recovery. We do expect the same story for 2022, but definitely, there are signs that are pointing at improved movement with regard to the real estate market for this year,” Mr. De los Reyes said. — K.C.G.Valmonte

PHL AirAsia says domestic travel picked up in January

NEWSROOM.AIRASIA.COM

DOMESTIC travel picked up in January despite the surge in coronavirus cases, low-cost carrier Philippines AirAsia, Inc. said on Monday.

The airline reported a 182% increase in domestic travel for the month of January.

“The uptick in [coronavirus] cases in January has not affected domestic travel as the airline recouped 42% of its pre-COVID flight frequency this month,” the low-cost carrier said in an e-mailed statement.

“Seats sold for said month also increased by 200% as compared to the same month in the previous year. Moreover, load factor has increased by 10%,” it added.

The airline noted that Caticlan, Cebu and Tacloban remained the top destinations for both leisure and essential travels.

The low-cost carrier has also started gradually increasing its domestic flights slated for February for Davao, Iloilo, Cagayan De Oro, Bacolod, Puerto Princesa, Panglao and Kalibo “in preparation for a possible influx of travelers.”

The airline previously said, citing its own survey, that seven out of 10 Filipinos are still keen on pushing through with their planned air travel in the next nine months despite the rising coronavirus cases.

Philippines AirAsia Chief Executive Officer Ricardo P. Isla said that the airline has observed an increase in Filipinos’ confidence to travel as the country gains “a better understanding of the pandemic” and develops “a more fitting culture of safety and vigilance.” — Arjay L. Balinbin

Tolentino commends Malditas for booking World Cup berth

PHILIPPINE Olympic Committee (POC) president Abraham Tolentino on Monday lauded the national women’s football team for booking a historic stint in the FIFA Women’s World Cup.

“The POC congratulates our women’s football team for making world football history,” said Mr. Tolentino a day after the Filipinas shocked Chinese Taipei, 4-3, in a pulsating penalty shootout at the Shree Shiv Chhatrapati Sports Complex in Pune, India on Sunday night.

The effort also sealed the National lady booters a berth to the Asian Football Confederation Women’s Asia Cup, which was another breakthrough feat.

“We won our first-ever Olympic gold medal in Tokyo last July — adding two silvers and one bronze — and then this in football,” said the congressman from Tagaytay and PhilCycling chief.

“Filipino athletes have been leveling up and are putting the country prominently on the world sporting map,” he added

Mr. Tolentino also praised the Philippine Football Federation (PFF) under president Mariano “Nonong” Araneta and secretary-general Edwin Gastanes for having accomplished what looked like an “impossible dream,” noting that “we are not a football-loving nation,” he said.

“These two gentlemen of sports have painstakingly brought Philippine football up there, not to mention that they hold or held sensitive positions in the POC,” said Mr. Tolentino, referring to Mr. Araneta who was chef de mission to the Tokyo Olympics where weightlifter Hidilyn F. Diaz won gold and boxers Carlo Paalam and Nesthy A. Petecio clinched silvers and Eumir Felix D. Marcial bagged bronze. — Joey Villar

Entertainment News (02/01/22)

Muni-Muni Stories tackles Balangiga OST

EPISODE 5 of the second season of the Muni-Muni Stories podcast tackles the original soundtrack of the 2017 historical film Balangiga: Howling Wilderness. Set in Samar in 1901, and seen through the eyes of a boy named Kulas, the film’s director Khavn portrays a child’s flight from his hometown with his grandfather and a toddler whom they rescue. Two versions of the song “Katurog Na” (“Tulog Na/Sleep Now”) are the focus of conversation: an instrumental version and another performed by Khavn and Lolita Carbon. Motifs from this song run through the film. The episode builds the case that the movie should be seen by children. It also digs deep into the significance of naming, evident in the characters’ names, as well as the references to mythology and the rituals related to anting-anting. Muni-Muni Stories Season 2 is exclusively available on Spotify. Muni-Muni Stories, a podcast co-produced by Filipinas Heritage Library and Podcast Network Asia, launched its second season on Jan. 3. In this new season, many heavyweights in the film and music industries talk about official soundtracks (OSTs) in Pinoy movies. Also in the line-up this season are Glaiza De Castro, Antoinette Jadaone, Armi Millare, JP Habac, and more guests.

Filipino art songs the focus of online concert

THE CULTURAL Center of the Philippines (CCP), in partnership with the Tribung Pilipino Cultural Foundation headed by art patron and 2020 Gawad CCP Para sa Sining Awardee Danny Dolor, brings back traditional Filipino music with a focus on Philippine art songs in the concert Masayang Kabukiran which will be streamed on Feb. 1, 6 p.m., on the CCP Facebook page. The online event kicks off the celebration of February Arts Month this year. This production adopted the concept of Harana sa Dapit Hapon, a series of afternoon concerts/musicales first staged at the CCP Main Theater Lobby in 2015, which showcased traditional Filipino music: kundiman, harana, balitaw, danza, and love songs by great Filipino composers. The online concert features leading Filipino performers including sopranos Rachelle Gerodias and Jasmin Salvo, Korean baritone Byeong In Park, tenor Arman Ferrer, and the Kabataang Gitarista. Featured songs include “Sa Libis Ng Nayon,” “Rosas Pandan,” “Pobreng Alindahaw,” “Ang Tangi Kong Pag-ibig,” “Katakataka,” “Maalaala Mo Kaya,” “Minamahal Kita,” and a medley of Philippine folk songs. For more information, visit the CCP website (www.culturalcenter.gov.ph) or follow the official CCP social media accounts on Facebook, Twitter, and Instagram.   

Sky, HBO, History Channel host virtual fundraiser   

MORE THAN a million Filipinos are still struggling to get back on their feet after the devastation caused by Super Typhoon Odette. To provide help, SKY, with the support of its channel partners HBO and History Channel, are joining in the relief efforts of ABS-CBN and ABS-CBN Foundation’s “Tulong-Tulong Sa Pag-Ahon: Isang Daan Sa Pagtutulungan” with their own fundraiser, “Isang Daang Hakbang Sa Pagtutulungan: Kapamilya Virtual Run”. Starting Feb. 1, anyone can join the virtual run, where participants can donate money and do the “100 Hakbang (step) Challenge” to help provide aid to Odette survivors. Participants can enter this virtual run for a good cause by sending a donation of P100 or P400 via the GCash, PayMaya, or PayPal QR Code of Isang Daang Hakbang Sa Pagtutulungan: Kapamilya Virtual Run. They may also deposit their cash donation through BDO (0039300-86136) or BPI (3051-1156-26). A P100-donation can provide a food pack containing 1kg rice and two canned goods for one person while a P400 donation can provide 5kg rice and six canned goods for a family. After sending their donation, participants are to visit www.runrio.com to sign up for the virtual run and submit their proof of donation. Further instructions on how to track the results of the virtual run are detailed in the website. Participants can also go the extra mile by donating more and joining the Top Up Run Categories. A donation of P800 or P1,200 will allow them to join the 5K or 10K Virtual Run, while also helping provide food packs to more families. Registered participants can complete their 100 steps, 5K, or 10K virtual run, anywhere and anytime from Feb. 5 to 28. Runners are encouraged to share their progress or show their unlocked achievement by posting it on Facebook or Instagram using the hashtag #100HakbangSaPagtutulungan and tag other friends to do the challenge too. Finishers of the “100 Hakbang Challenge” will receive an e-badge while finishers of the 5K and 10K Virtual Runs will receive an e-badge, e-bib, and personalized e-certificate. ABS-CBN and ABS-CBN Foundation launched “Tulong-Tulong sa Pag-ahon: Isang Daan sa Pagtutulungan,” the second phase of their fund drive for the benefit of Odette survivors. As of Jan. 25, ABS-CBN Foundation has delivered food and basic necessities to 141,634 families in Palawan, Visayas, and Mindanao with the help of the donations.

Tickets to Limitless Part 3: Rise on sale

JULIE Anne San Jose returns with Rise, part three of her musical special Limitless: A Musical Trilogy. The third installment of the concert series is set to premiere on April 9. The Limitless journey kicked off in Sept. 2021 with Ms. San Jose visiting different locations in Mindanao in Limitless Part 1: Breathe. She explored the island of Siquijor in the Visayas in Limitless Part 2: Heal in Nov. 2021. Tickets for Limitless Part 3: Rise are available at gmanetwork.com/synergy. They are priced at P599 (General Admission), P1,199 (VIP), and P2,399 (Synergy Pass Premium). Follow www.facebook.com/GMASynergy for more details.   

Gigi De Lana releases debut album

GIGI De Lana has released her self-titled debut album under Star Music. Ms. De Lana and her band The Gigi Vibes depict different stages of love, from falling to heartbreak to recovery from pain, through eight original songs and two bonus tracks. Its key track, “O Bakit Ba,” is about the never-ending cycle of getting hurt, written by Ms. De Lana and Erwin Lacsa. She also co-wrote another song in the album, “Letting Go,” together with Jon Cruz and Erin Justo. The album also includes her debut single and break-up anthem “Sakalam,” and the official theme song of ABS-CBN Entertainment’s Viral Scandal series entitled “Nasayo Ako.” Other songs include a remake of “Bakit Nga Ba Mahal Kita,” the theme song of her ongoing iQiyi series Hello Heart. ABS-CBN Music creative director Jonathan Manalo served as the album’s overall producer.

The Knobs release new single

KNOWN for its slow pop-rock love songs, rising OPM band The Knobs has released a mashup of their original songs — “Walang Kapantay/Liwanag/Wala Na/Paglisan Mash Up.” The absence of live events and gigs because of the ongoing pandemic paved the way for the band to work on the mashup. The rock quintet is, composed of Jayr Corre (vocals/ bass), Raffy Corre (rhythm guitar), and Marco Corre (drums/ backing vocals), Emman Lopez (lead guitar) and Sky Cepe on (keyboards). The band’s new single is available to stream on all music streaming platforms. 

SB19’s Pablo releases solo debut single

SB19’s Pablo embarks on his journey as a solo artist with the release of his debut single “La Luna.” According to the singer, the song is about learning to embrace imperfections in pursuit of achieving acceptance and self-love. Outside his stint as a leader of SB19, Pablo has worked as a producer/composer, and won the top prize at last year’s Djooky Music Awards for his collaboration with rapper Josue, “Determinado.” He also wrote all the songs on SB19’s 2021 EP, Pagsibol. “La Luna” is available to stream on all digital music platforms worldwide.

Rex Orange County releases new album

REX Orange County has announced his forthcoming album Who Cares?, which is due March 11 via Sony Music. Out now is the new album’s lead single and its accompanying video, “Keep It Up.” In the video, the singer is seen dancing his way through Amsterdam’s busy city center as he performs the track alongside musician Benny Sings, with whom he created Who Cares? over the course of a few sessions in Sings’ Amsterdam studio. For more information, visit https://www.rexorangecounty.com/.

Hero releases new single

AFTER courting the person he liked the most in his single “Reyna,” Hero drops a new song called “Nakakahiya” which tells a tale of regret. Once again, he was joined by fellow rapper Kxle on this new song. This song was produced by Russel “Goodson” Tiquia. “Nakakahiya” is available to stream on all music streaming platforms.

Viu Philippines releases complete Still soundtrack

VIU Philippines released the complete official soundtrack of its first Viu Original, Still. Comprised of 13 OPM tracks, the songs capture the stories of each character. Still is an eight-part Viu Original musical series featuring young people stranded in music camp because of the pandemic. The songs were created and composed by Nica Del Rosario, Matthew Chang, Mike Shimamoto, and local production house Flipmusic. The complete official soundtrack of Still: A Viu Original Musical Narrative Series is available on Spotify, Apple Music, Deezer, and Tidal. All eight episodes of Still are also available on Viu! The Viu app is availabel on App Store, Google Play, and selected Smart TVs, or visit www.viu.com.

Landlords urged to prepare for ‘inevitable’ return to work

COLLIERS /SHUTTERSTOCK

LANDLORDS should take action now to prepare their properties for the “inevitable” return of workers to offices after the Omicron-driven surge in coronavirus disease 2019 (COVID-19) infections, according to Colliers.

“The Omicron variant should not hinder the property market’s recovery and the much-anticipated rebound of the Philippines’ office market. While the country battles a COVID-19 surge and new restrictions are imposed, landlords must now take action to prepare their properties for the eventual and inevitable return to work,” Maricris Sarino-Joson, director of Office Services – Landlord Representation at Colliers.

Landlords should start retrofitting their properties to make them safer for those returning to the office.

This can be done by introducing technology to curb the spread of viruses in the workplace, such as touch-less access for restrooms and elevators, hands-free door unlock mechanisms, and virtual guest passes.

Ms. Sarino-Joson noted that landlords can also help occupiers make changes to the design of spaces to accommodate social distancing rules and other health features.

“This may mean coming up with recommended designs which promote health and wellness of office workers and offering flexible fit-out periods for occupiers to implement these much-needed changes,” she added.

Converting spaces within buildings into fully fitted swing spaces or temporary office spaces is also ideal. “Existing tenants can use these spaces while they wait for their permanent office to be built or renovated,” Ms. Sarino-Joson said.

Colliers also noted that short-term leases are an ideal option for landlords to cover the cost of running and maintaining their properties amid the pandemic.

“Accepting short-term leases may… open doors to new and previously untapped clients, such as startups,” the diversified professional services and investment management firm said in an e-mailed statement on Jan. 28.

If landlords are able to find tenants willing to sign long-term leases, they should consider “sweetening deals,” Colliers added.

These include offering more favorable commercial terms and concessions, such as flexible lease terms, partial termination options, and delayed escalation.

“Show the prospective tenant that longer commitment in the property can mean bigger cost savings in the long term,” it said.

In December, Colliers said it was anticipating a rebound for the Philippines’ property market in 2022, owing to the increased vaccination rate and improved consumer and business confidence.

However, the emergence of the Omicron variant of COVID-19 has delayed many companies’ plans to return to the office. — Arjay L. Balinbin

PNVF will train men’s team to Qatar and its women’s to Brazil

THE Philippine National Volleyball Federation (PNVF) will send its men’s team to Qatar next month and the women’s squad to Brazil on April 12 as it gears up for the 31st Hanoi Southeast Asian (SEA) Games set May 12-23.

The 20-member men’s pool will begin training next week in Taguig before it holds a training camp in Qatar a month later while the women’s side, also composed of 20 players, will first train separately with their mother Premier Volleyball League (PVL) squads before flying to Brazil for a three-week camp.

PNVF president Ramon Suzara said they could only start the training of the women’s team because most of the players will see action in the 2022 PVL Open Conference slated March 16-April 9.

“We will then announce the final 14 players who will make our SEA Games team after their Brazil training,” said Mr. Suzara in an interview with Radyo Pilipinas on Monday.

The country is out to improve on its silver-medal finish in the men’s side and a fourth-place effort in the women’s section.

Mr. Suzara isn’t discounting the possibility of striking gold in both divisions.

“It’s possible,” said Mr. Suzara, who said Thailand, Indonesia and Vietnam should be the teams to watch out for.

Jaja Santiago, Alyssa Valdez, Kalei Mau, Jia Morado, Mylene Paat, Dindin Santiago-Manabat, Dawn Macandili, Kat Tolentino, Kath Arado, Jema Galanza and Deanna Wong will spearhead the women’s while Bryan Bagunas, Marck Espejo and Josh Umandal will lead the men’s.

Messrs. Bagunas and Espejo, who are currently playing in Japan, and Mr. Umandal, who is plying his trade in Bahrain, are expected to fly back to the country late this month to join their teammates. — Joey Villar

Filipinos more aware of data privacy — NPC

FILIPINOS are more aware of data privacy and privacy issues, according to a survey commissioned by the National Privacy Commission (NPC).

In a statement on Monday, the NPC said it commissioned a nationwide survey which showed that public awareness and knowledge of Republic Act 10173 or the Data Privacy Act increased to 25% in 2021 compared with 13% in 2017.

However, the survey also showed that most Filipinos with internet access still lack awareness in terms of internet security, with only a 9% awareness of proper social media usage.

The commission said the survey revealed that data privacy awareness is concentrated in the National Capital Region and other urban areas where internet access is high.

“Furthermore, the survey also found that dissemination of information through social media channels (Facebook, Twitter, YouTube) and television contributed to the growth of public awareness and knowledge,” the NPC said.

According to the NPC, the survey showed that individuals who consider the Data Privacy Act as relevant are aware of data privacy and can effectively explain its use.

In contrast, the survey revealed that those who find the law to be irrelevant have insufficient awareness on data privacy.

Privacy Commissioner John Henry D. Naga said data privacy awareness should have increased promotion in rural areas and those in the lower economic classes.

“We are planning to focus our efforts in increasing data privacy and protection awareness, which in effect will educate and empower data subjects, making them less vulnerable to data privacy abuses,” Mr. Naga said.

“Heightened awareness and familiarity with data privacy concepts and the Data Privacy Act is essential in improving public satisfaction, trust, and engagement with the NPC,” he added.

According to the NPC, the nationwide survey was conducted by the Philippine Survey and Research Center (PSRC) from October to November 2021. The survey’s respondents are males and females aged 18 years old and above from homes belonging to all income categories. — Revin Mikhael D. Ochave

Chinese New Year (02/01/22)

Robinsons Malls kick off the Chinese New Year

ROBINSONS Malls celebrates the Year of the Tiger with a line-up of events and activities with “Great Leaps at Robinsons Malls.” Robinsons Malls offers Roaring Promotions as select retail partners welcome shoppers with big discounts and other offers. Check out the malls’ restaurants and food outlets which offer treats and deals. For families and barkadas looking for fun and memorable Lunar New Year experiences, Robinsons Malls has installed majestic Chinese New Year attractions and organized activities with special prizes awaiting shoppers. On Feb. 1, to commemorate the year of the Water Tiger, Lion and Dragon Dances will be performed in several Robinsons Malls nationwide. Robinsons Malls in partnership with feng shui master, Marites Allen, will feature 2022 Chinese Zodiac forecast to guide interested shoppers discover what’s in store for them in love, wealth, career, and health. The RMalls+ app, the newest mobile app of Robinsons Malls, give everyone app-exclusive Roaring Deals and freebies from partner tenants, first dibs on special offers and promos, and free access to mall services such as parking and VIP pay lounge. The app also lets users purchase e-gift certificates that they can send as New Year gifts. For those who choose to celebrate the Lunar New Year at home, Robinsons Malls will not charge shopping fees for use of its personal shopper service, Robbie & Rosie in select malls nationwide. Customers can also order from multiple restaurants in one go through Malldash.ph and enjoy up to P168 discount for a miminum spend of P800.

Diamond Hotel Manila ushers in the Tiger

TO INVITE prosperity and luck this Chinese New Year, welcome the Year of the Water Tiger at Diamond Hotel Philippines. The Corniche restaurant will offer Chinese dishes until Feb. 6, created by Chinese chef Yang Yong. At the Lunch and Dinner Buffet, indulge in traditional Chinese New Year favorites and other celebratory dishes for P3,300 net per person. Dishes include Roast suckling pig, Braised chicken soup with Chinese herbs, Chinese New Year Pan Cai (all-in-one dish), Chinese New Year Yu Sheng, among others. Plus, every minimum of P5,000 spent at Corniche during this period entitles diners to “pick-a-prize” from the Prosperity Tree for prizes from the hotel. Corniche also features the Chinese Lauriat and Unlimited Dimsum until Feb. 6. Three Chinese Lauriat sets are available during lunch and dinner with prices starting at P3,600 net good for six persons. For an all-dimsum treat, head over during lunch for P1,088 net per person. For families commemorating the occasion at home, visit Diamond Hotel’s online shopping site onlineshopping.diamondhotel.com and browse the selection of featured Chinese delicacies to order. There are four Lucky Chinese Set Menus with prices starting from P2,999 net, all of which come with the Yu Sheng dish for the traditional Prosperity Toss. The Chinese Grazing Box good for four persons has a selection of cold cuts, appetizers, Chinese New Year tikoy and wine. Prosperity platters, namely the Chinese New Year Wealth Fortune Pot, Happiness Yu Sheng, New Year Wealth Roast suckling pig with Mantou and Fortune Cake are also recommendations to bring more luck. For reservations, call 8528-3000 ext.1121, or mobile number 0975-792-1473 from 9 a.m. to 5 p.m., or visit onlineshopping.diamondhotel.com. Dining guests must be fully vaccinated and other conditions apply. Diamond Hotel Philippines is located at Roxas Boulevard corner Dr. J. Quintos Street, Manila.

Sheraton Manila Bay offers Chinese New Year Lucky Bundles

SHERATON Manila Bay welcomes the Year of the Tiger with a trio of auspicious creations. Usher luck and sweeten the Chinese New Year feast by taking home freshly baked Mandarin Choux for P165 per piece, Asado pork bun for P155 per set of tree, and Chinese custard bun for P130 for a set of three. These are available at the Sheraton Kiosk located at Robinsons Place Manila, Padre Faura Wing, Mall Entrance, and for delivery by calling 5318-0788, 0917-583-7294, 0917-583-7326, or e-mail reservations.manilabay@sheraton.com. Sheraton Manila Bay is located at M. Adriatico cor. Gen. Malvar Streets, Malate, Manila.

RCBC looking to raise at least P3B from bond offer

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RIZAL COMMERCIAL Banking Corp. (RCBC) on Monday started its offering of sustainability bonds, with the proceeds to be used for general funding purposes in line with the bank’s sustainable finance framework.

The bank targets to raise a minimum of P3 billion from the offering with the option to upsize, it said in a filing with the local bourse on Monday.

The latest offering makes up the seventh tranche of RCBC’s P100-billion bond and commercial paper program, which still has an unissued balance of P27.96 billion.

“The funds to be raised from the offer will be used to support asset growth, refinance maturing liabilities and other general funding purposes in line with the bank’s Sustainable Finance Framework,” RCBC said.

RCBC’s ASEAN sustainability bonds have a tenor of two years and three months, and carry a fixed interest rate of 3% per annum.

The offer period runs from Jan. 31 to Feb. 11, unless modified by RCBC. The papers will be issued and listed on the Philippine Dealing and Exchange Corp. on Feb. 21.

The Hongkong and Shanghai Banking Corp. (HSBC) is the sole lead arranger for the transaction. It will also be a bookrunner together with RCBC Capital Corp.

The bonds will be sold by HSBC and RCBC.

Asked for details, RCBC said the minimum investment for the bonds starts at P100,000, with increments of P10,000 thereafter.

RCBC raised P17.87 billion in March 2021 through 2.5- and 5.2-year ASEAN sustainability peso bonds.

The bank’s net profit more than doubled to P2.01 billion in the third quarter of 2021, backed by higher interest earnings and trading income.

This brought RCBC’s net income for the first nine months of 2021 to P5.338 billion, increasing by a third from the P4 billion booked in the same period of 2020.

The Yuchengco-led lender’s shares closed at P20.40 apiece on Monday, up by five centavos or 0.25% from its previous finish. — Luz Wendy T. Noble

How PSEi member stocks performed — January 31, 2022

Here’s a quick glance at how PSEi stocks fared on Monday, January 31, 2022.

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