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Suzuki presents updated Dzire

SUZUKI PHILIPPINES (SPH) brings in the 2021 version of the Dzire sedan, which features key updates and changes.

In a release, SPH Vice-President and General Manager for Automobile Keiichi Suzuki said, “We are very much thankful for the great support that the market has shown to us, especially for the past year. Despite the challenges the we are faced with, this new model serves as our light and hope as we continue to work harder and strive for greatness in the months and years to come.”

He added, “We, in Suzuki Philippines, are happy to announce that the new Dzire offers our latest innovative technology and design (for) an authentic sedan experience. We are optimistic that with this new model, we will be able to continue in championing the ‘Suzuki Way of Life,’ and remain true to our dedication to deliver quality products and services.”

The new Dzire rises upon Suzuki’s HEARTECT platform, and features lightness and high rigidity. Under the hood is a 1.2-liter engine that the company says is efficient and delivers “strong driving performance.” It is similarly mated to Suzuki’s so-called “automated manual transmission” Auto Gear Shift (AGS) “that gives the comfort of driving an automatic with the fuel efficiency of a manual transmission.”

The upgraded version gets a seven-inch infotainment system that accommodates USB and Bluetooth connectivity, GPS navigation, and has a radio AM/FM function. It features an electric fold and adjust outside door mirror, reverse parking sensors, and now ESP (electronic stability program). ESP automatically controls engine torque and brakes to suppress wheel slip during slippery conditions or when the tires lose traction.

The Dzire gets dual air bags, hill hold control, and a light and impact-absorbing body of through the company’s proprietary TECT (Total Effective Control Technology) platform, which also mitigates pedestrian injury by efficiently absorbing and dispersing energy in the event of a collision.

Aside from 378 liters of boot space, the Dzire gets multiple storage spaces and features such as a front console box and cup holders, front door pockets, glove box and rear door pockets, and rear arm rest with cup holders. Rear passengers get their own air-con vents along with a 12V accessory socket.

It receives a chrome grille and a new bumper with fog lamps. The Dzire is also fitted with alloy wheels, and now comes in two variants GL (MT) and GL+ (AGS). A variety of colorways for GL variant includes Arctic White Pearl, Premium Silver and Midnight Black Pearl. For the GL+, the New Dzire is available in Sherwood Brown Pearl, Oxford Blue Pearl Metallic, Magma Gray Metallic, and Phoenix Red Pearl. Pricing is P648,000 for the GL MT variant and P708,000 for the GL+ AGS variant.

For more information, visit any of SPH’s 74 dealerships nationwide or http://suzuki.com.ph/auto/. The company is on Twitter (SuzukiAutoPH) and Instagram (suzukiautoph).

DoE orders power firms to carry out ‘no disconnection’ policy

A MAN seen at fruit stand just beside electric wires at Kapalaran St. in Brgy. Commonwealth in Quezon City last February 5. — PHILIPPINE STAR/MICHAEL VARCAS

DISTRIBUTION utilities (DUs) must implement a “no-disconnection policy” for poor electricity consumers whose unpaid obligations must be settled by March this year, the Department of Energy said in an advisory posted on its website on Saturday.

“All DUs are hereby directed to implement a no-disconnection policy due to non-payment of bills falling due by March 2021 for all electricity consumers whose consumption level are within the lifeline rate set by the Energy Regulatory Commission (ERC) for the DUs franchise area,” the department said.

“This shall apply to all unpaid regular bills and installment payments relative to various advisories of the DoE and ERC,” it added.

The one-page advisory, which was signed by DoE Secretary Alfonso G. Cusi on Friday, did not give details on how many months the no-disconnection policy would run for.

The advisory comes days after President Rodrigo R. Duterte expressed his support for the DoE’s recommendation to extend the “no-disconnection policy” for poor power consumers during a Cabinet meeting on Wednesday, according to Cabinet Secretary Karlo Alexei B. Nograles.

In its advisory, the DoE said that all power consumers — both lifeline and non-lifeline — who still cannot pay their bills may “enter into socially equitable and manageable payment terms to prevent eventual disconnection of electricity services.”

Meanwhile, the DoE encouraged consumers who have the capability to pay to settle their bills within their original due dates “to help in managing the flow of cash in the energy supply chain, and ensure a continuous supply of electricity.”

The DoE also directed all DUs to post the advisory in their respective websites and consumer welfare desks.

Last month, Manila Electric Co. (Meralco) said that it had started giving disconnection notices to customers who were falling behind their payments.

Meralco Vice-President and Head of Corporate Communications Joe R. Zaldarriaga previously said that the firm had asked households consuming 201 kilowatt-hours (kWh) or more to settle their obligations in January, while giving those consuming 200 kWh and below until the end of the month to pay.

Meralco’s no-disconnection policy that covered typical households that consumed less than 200 kWh was due to end on Dec. 31, but was extended until the end of January.

On Thursday, Philippine Rural Electric Cooperatives Association (Philreca) said that the prolonged extension of the no disconnection policy “would disrupt the flow of money in the energy supply chain, and that its effects would extend to outside the power sector.”

“There will be a huge implication in the financial stability of all stakeholders in the energy supply chain should a prolonged ‘no disconnection policy’ is imposed by the government. And this disruption — bear in mind — is not just going to affect the energy sector. If electricity consumers default on their utility bills payments, then, the distribution utilities will eventually default as well to its power suppliers,” said Presley C. De Jesus, Philreca president and party-list representative in an e-mailed statement.

He added that the prolonged policy would also affect electric cooperatives, which are “non-profit by nature as they did not have a huge capital to support their operations during the global health emergency, unlike other utilities.”

Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT, Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Angelica Y. Yang

Facing green pressure, Indonesia halts deep-sea mining disposal

JAKARTA — Indonesia will no longer permit mining waste to be disposed in the ocean to allay concerns about the environmental impact of processing nickel used in electric vehicle (EV) batteries, a government official and a corporate mining source said.

The Southeast Asian nation, the world’s biggest nickel producer, has not officially banned so-called deep-sea tailings (DST) but by not issuing new permits it could delay planned projects and complicate efforts to dispose of waste.

Proponents of DST say it is cheaper and less harmful to pipe waste into the sea, especially on tropical islands where earthquakes or heavy rain limit storage, but critics says the impact of such marine disposal is poorly understood.

“There is no written regulation yet, but the policy is to not issue permits for deep-sea tailing for any future projects,” Jodi Mahardi, a spokesman for the Maritime and Investment Affairs Coordinating Minister, told Reuters.

Up to now only one nickel mine in Papua New Guinea is using DST, according to global producer association the Nickel Institute.

Indonesia currently uses the disposal method at its second-largest copper mine, run by PT Amman Mineral Nusa Tenggara.

Indonesian nickel projects seeking permission for DST did not receive an outright rejection, but a lengthy wait meant that land tailings eventually become “the only option,” according to a corporate mining source familiar with the matter.

Once the world’s biggest exporter of nickel, Indonesia banned ore exports last year amid efforts to develop a full nickel supply chain, starting from extraction, processing into metals and chemicals used in batteries, all the way to building EVs.

At least four high-pressure acid leach (HPAL) plants, which process nickel laterite into chemicals used in batteries, are being constructed in Indonesia led by Chinese investors. Most planned to dispose waste in the sea.

HPAL projects in Morowali, in Sulawesi, have decided to drop DST, said a source familiar with the matter. Meanwhile, an HPAL project in Obi Island is still waiting for the government’s decision.

Changing to disposing tailings on land from the ocean would require a major plant rework, said Angela Durrant, a nickel costs researcher at Wood Mackenzie.

“It would cost a fortune to switch from one established form of tailings disposal to another method,” Durrant said. However, she said that most new HPAL projects in Indonesia are unlikely to have set up any disposal systems yet.

Despite obstacles, Indonesia is expecting investment in nickel processing to double from 2020 to $35 billion by 2033, led by Chinese stainless steel producers and battery makers.

The country also signed a $9.8-billion EV battery deal with South Korea’s LG Energy Solution in December.

Indonesia has also been wooing Tesla, which has been looking to find reliable sources of nickel globally after warning the current cost of batteries remains a hurdle to growth. Tesla has sent an investment proposal and the government will meet with the company next week, Septian Hario Seto, the deputy head for investment and mining coordination said on Friday.

Maritime and Investment spokesman Jodi said that the Indonesian government was well aware of the need to uphold green standards “otherwise, companies like Tesla would not come here.”

Indonesia has a chequered environmental track record in mining so EV companies could be cautious about directly investing given environmentally-conscious consumers, experts say. “There’s potential in Indonesia but there’s also risk involved if they don’t have the right policies,” said Andrew Miller, product director at EV battery metals consultancy firm, Benchmark Intelligence Minerals. — Reuters

Bridgerton: in defense of ‘inaccurate’ costumes in period dramas

NETFLIX recently announced that its new series, Bridgerton, is the company’s most popular show to date. Adapted from Julia Quinn’s historical novels, Bridgerton depicts a set of upper class families at the beginning of the London “season” in 1813. The show has captured audiences and critics alike, but not all the attention has been positive. Its creative and, at times, inaccurate representation of fashion in the period has come under some criticism.

It is not the only period piece to have attracted such criticism. Netflix’s Enola Holmes (2020) and Greta Gerwig’s critically acclaimed adaptation of Louisa May Alcott’s novel Little Women (2019), have also had the veracity of their historical costumes questioned.

For some commentators, “inaccurate” costume choices can understandably detract from viewing pleasure. However, the artistic license that these shows take might actually be in keeping with 19th-century novels, which occasionally adapted and idealized fictional fashions too.

While Bridgerton gets a lot right in its portrayal of the Regency era, its bold costume choices have been the subject of increasing debate. Created by American costume designer Ellen Mirojnick, the costumes, of which there were 7,500 pieces, unapologetically play with notions of historical accuracy.

Although they largely adopt the long, flowing silhouette reminiscent of the 1810s, the brash colors, almost absurdly high waistlines, and other apparent inconsistencies in the gowns worn by the female characters have raised questions amongst viewers about the legitimacy of these fashions. One article also aptly notes the fashion faux pas that Bridgerton makes in its inaccurate use of corsets. In one scene, for instance, Daphne Bridgerton’s back is cut and bruised from her too-tight corset, but Regency women would have worn a chemise — a linen undergarment — against their skin to prevent this from happening.

Enola Holmes and Little Women both received similar scrutiny.

Although Little Women’s costume designer Jacqueline Durran won an Oscar for Best Costume Design, critics have argued that the award was “undeserved.” The film effectively uses temporal shifts to heighten emotional moments and render the familiar story new. Yet viewers have noted that the use of inaccurate silhouettes complicated such movements in time. There is no notable difference, for example, between the wide skirts the March sisters wear in childhood and the gowns they wear as adults — by which point the shape of the skirt would have changed significantly.

Similarly, the costumes used in Enola Holmes, set in 1884 and based on Nancy Springer’s young adult fiction, are a mix-match of styles from different eras, sparking confusion over the timeline of the tale.

In one scene, two artificial cage crinolines hang in a shop window. Made of a series of steel hoops to expand a skirt, this type of crinoline appeared in June 1856 and had fallen out of fashion by the 1880s, in which the film is set. By then, shops would have been selling bustles — a padded undergarment at the back of women’s dress used to add fullness.

But the anachronistic costuming of such productions has historical precedent. Some 19th-century writers adapted fictional fashions to suit their own and their readers’ tastes.

One of the most obvious examples is William Makepeace Thackeray’s novel Vanity Fair, which was first published serially between 1847 and 1848. Like Bridgerton, Vanity Fair meditates upon upper-class society, gossip, and issues of propriety in the first decades of the 19th century.

Writing in the mid-19th-century, Thackeray departs from the historical fashions of the Regency era, however, in favor of the fashions of his own time. In an early edition of the novel, a footnote directly addressing the reader declares:

“It was the author’s intention, faithful to history, to depict all the characters of this tale in their proper costumes, as they wore them at the commencement of the century. But when I remember the appearance of people in those days … I have not the heart to disfigure my heroes and heroines by costumes so hideous; and have, on the contrary, engaged a model of rank dressed according to the present fashion.”

Thackeray caricatures the fashions of the early 1800s. The angular lines of the man’s hat and trousers, and the woman’s elongated bonnet, which mirrors the straight line of her dress, are supposed to exemplify “hideous” Regency fashions.

In contrast, other illustrations in Vanity Fair show Thackeray’s characters in dress typical of the mid-century. The image shows the heiress Miss Swartz adorned in an 1840s ball gown, which is cut low off the shoulders and features a pointed bodice and full skirts.

In addition, historian Anne Hollander notes that Charlotte Brontë’s Jane Eyre (1847) — the second edition of which was dedicated to Thackeray — likewise plays with the presentation of historical fashion. Though not as overt as Thackeray, Jane Eyre, which is supposedly set at the beginning of the century, also “evokes those same Romantic clothes contemporary with its authorship.”

In this sense, just as costume dramas do today, some 19th-century novels adapted, idealized, and even sexed-up fictional fashions to suit public taste. — Reuters

 

Danielle Dove is a Visiting Research Fellow in Victorian Literature at the University of Surrey.

Lexus to present new vision and concept in March

Japan-headquartered luxury car maker Lexus, in a recent release, said it “will take a new step forward in aiming to make the diversified lifestyles of luxury customers more rewarding.” This will be encapsulated in the expression of a new vision and new concept that reveals the brand’s “intentions for the future” while “marking the beginning of a next generation of new vision of Lexus.” Lexus International President and Chief Branding Officer Koji Sato said, “Furthermore, we will launch the first model under our new vision within this year, and we will continue to introduce new models next year and beyond. From here on as well, by being considerate of our customers around the world and engaging in car-making that exceeds their expectations, we will continue to take up the challenge of delivering happiness to all people who come into contact with Lexus. I look forward to sharing more with you soon.”

DHL Global Forwarding PHL keen on helping gov’t distribute vaccines

DHL Global Forwarding (Philippines), Inc. said it could help the Philippine government in its importation of the coronavirus vaccines, citing its expertise in cold chain inbound logistics.

“We want to be part of the government’s many strategies in improving the Philippine situation amidst the pandemic by offering our ocean freight, airfreight, trucking and warehousing capabilities with regard to the planned importation of COVID-19 (coronavirus disease 2019) vaccines,” DHL Global Philippines Managing Director Yvonne G.H. Lee told BusinessWorld in a recent e-mail interview.

DHL Global Forwarding Philippines is part of the Deutsche Post DHL Group, which operates in more than 220 countries and territories.

“We have the expertise and capabilities from wherever the COVID-19 vaccines need to be sourced from. This would include our expertise in cold chain inbound logistics, warehousing and distribution plus a robust system to provide visibility of shipments and analytics,” Ms. Lee added.

The vaccine distribution remains to be a challenge globally because of the varying climate conditions and capabilities of countries, she noted. “To ensure the successful delivery of the precious life-saving cargo, the supply chain of vaccines should be carefully and meticulously planned and executed.”

Aside from the distribution of the COVID-19 vaccines, she said the company would also be prioritizing its digitization efforts this year.

She added that despite the news about the availability of the vaccines that sparked hope to everyone to physically re-engage, digitization would continue to accelerate.

“It allows ease and it improves the daily operations of our customers and freight forwarders simultaneously,” she noted.

“We will onboard our customers free of charge with our recently launched one stop portal for digital logistics, myDHLi, a tool that provides all relevant shipment data with just a few clicks away and can be displayed in detailed data analyses and reports.”

The company expects the Philippine economy to gradually rebound from this year onwards. — Arjay L. Balinbin

Global coffee supply surplus seen rising sharply — ICO

NEW YORK — The global coffee market should see a surplus of 5.26 million 60-kg bags in the 2020/21 season (October-September), above a revised upwards surplus of 4.14 million bags in 2019/20, the International Coffee Organization (ICO) said in a report on Tuesday.

In its first projection for the 2020/21 season, the ICO said production should reach 171.89 million bags, 1.9% higher than in the previous season, while consumption was seen at 166.62 million bags, 1.3% higher.

“Global demand for coffee is expected to stage a limited recovery as social distancing measures remain in place and the global economy slowly picks up,” the ICO said, adding that the increase in demand will not be enough to improve the market’s balance.

“This could limit further increases in coffee prices later in the coffee year unless demand recovers more quickly than currently anticipated,” the organization said.

Analysts have also predicted a large surplus for 2020/21, with a Reuters poll indicating it at 8 million bags. — Reuters

Yields on gov’t debt fall on liquidity

YIELDS at the secondary market fell slightly last week amid ample market liquidity and as the government announced it will auction off retail Treasury bonds (RTBs) this week.

Rates on government securities fell by an average of 2.23 basis points (bps) week on week, based on the PHP Bloomberg Valuation (BVAL) Service Reference Rates as of Feb. 5 published on the Philippine Dealing System’s website.

Yields on the 91-, 182-, and 364-day Treasury bills dropped by 5 bps, 5.3 bps, and 11.4 bps, respectively, from the previous week to end at 1.041%, 1.204%, and 1.416%.

Meanwhile, rates of the two-, three-, four-, and five-year Treasury bonds (T-bonds) likewise declined by 2.4 bps (to 1.783%), one basis point (2.074%), 1.4 bps (2.340%), and 1.9 bps (2.565%).

On the other hand, the yield on the seven-year paper was almost flat at 2.827%.

At the long end, the 25-year T-bond fell by 8.5 bps to yield 3.882%, while the rates of the 10- and 20-year papers increased by 8.9 bps (3.026%) and 3.1 bps (3.963%).

“Yields were lower as the [financial] system continues to be awash with liquidity. However, the yields actually closed higher compared to intra-week lows as markets digest the RTB issuance and the CPI (consumer price index) report,” a bond trader said in a Viber message.

Security Bank Corp. Chief Economist Robert Dan J. Roces, meanwhile, said the market “traded relatively flat” last week.

“There was some knee-jerk reaction when the CPI print came out before settling back,” Mr. Roces said in a Viber message.

The government will start offering three-year RTBs this week to raise at least P30 billion from the local debt market, the Treasury bureau said on Friday.

The agency said in a notice posted on its website that it would sell at least P30 billion in three-year retail bonds for three weeks starting Feb. 9 until March 4, or if closed earlier.

The bureau also opened a bond exchange offer where holders of FXTN 07-57, FXTN 10-53, RTB 03-09, RTB-10-03 and FXTN 10-55 can swap their current securities with the new retail bonds.

The government offers retail Treasury bonds annually to encourage small retail investors to invest with higher returns than prevailing market rates. These are also considered low-risk investments because they are backed by the state.

The bonds will be sold in denominations of at least P5,000, the Treasury bureau said.

The coupon will be determined during the rate-setting auction on Tuesday, and interest payments will be made quarterly.

Last year, the bureau offered retail bonds twice, raising P310.8 billion from the sale of three-year bonds in February and an all-time high of P516.3 billion from five-year securities.

Meanwhile, headline inflation quickened to 4.2% last month, faster than 3.5% in December and 2.9% a year earlier, the Philippine Statistics Authority said in a statement on Friday. It was also the fastest since 4.4% in January 2019.

January inflation exceeded the central bank’s estimate of 3.3-4.1% for the month and its 2-4% annual target.

“Expect yields to trend higher [this] week as we get more info on the RTB issuance and market will likely be on the defensive on higher CPI,” the bond trader said.

Security Bank’s Mr. Roces, meanwhile, said yields are “expected to trade sideways with an upward bias” this week. — A.O.A. Tirona

Style (02/08/21)

COS to open first PHL store

COS, the London-based brand known for its modern yet timeless style, will open a branch in the Philippines in early 2021. It will be located in SM Aura in Taguig. “Opening in the Philippines is an exciting step for the COS Brand. We have been hoping to enter the market for some time and I think our new Manila store is a great place to start. I’m excited to see how new customers will engage with our brand and collections,” says Christoffer Sellin, COS Asia Pacific Managing Director. The new store will open with COS Spring/Summer 2021, featuring wardrobe staples from tailored sets to lightweight knitwear and effortless blazers. The collection features sustainably-sourced materials such as organic cottons, jewelry crafted from recycled yoghurt pots and zero-waste seamless knitwear sets, with each piece designed to take the wearer beyond the season.

MUJI to open its largest store in PHL

Japanese lifestyle brand MUJI will open its largest store in the Philippines by the first quarter of 2021. This will be an expansion of its store in Shangri-La Plaza, which temporarily closed for renovation back in September 2020. From a size of 400 sqm, it will expand to 1,400 sqm. The newly expanded Shangri-la Plaza store will showcase various textures and natural materials such as old wood and metal. Around 4,000 items will be available in MUJI Philippines’ largest store, including the brand’s array of everyday life essentials such as health and beauty, stationery, travel, kitchenware, houseware, furniture, and electronics products, as well as men’s and women’s apparel, children’s wear, innerwear, bags, shoes, and accessories. In addition, MUJI Shangri-La Plaza will exclusively introduce to the Philippine market some specialty products and services including MUJI Labo — MUJI’s unisex clothing line, and services such as consultation for furniture, storage, and interior coordination, styling coordination, and product recommendations as provided by MUJI Advisors. This store will also feature the first MUJI Water Refilling Service and Open MUJI area (a space where the brand can showcase MUJI concepts and house various activities) in the Philippines and will reintroduce its best-selling items at better prices with its Price Review Campaign. MUJI also has branches at Greenbelt 3, C1 Bonifacio High Street Central, Power Plant Mall at Rockwell, Shangri-La Plaza East Wing, and SM Mall of Asia.

Lucky objects at Rustan’s for Lunar New Year

FEB. 12 marks the beginning of the Year of the Ox. Rustan’s invites everyone to wish loved ones and friends well this Chinese New Year through meaningful traditions and symbolic gifts. The lucky colors for the new year are red — one of the luckiest colors in Chinese culture and often worn at big celebrations and believed to scare away spirits of bad fortune and is a bearer of happiness and success — and the Pantone Colors of the year, Ultimate Gray and Illuminating Yellow, which symbolize stability and assuredness. Rustan’s premium brands feature wide selections in these colors which are perfect for the season. For men, Hackett offers complete apparel and accessories including bright red shirts. Phone accessories and gadgets from Cygnett and Ideal of Sweden are great options for boosting work productivity. For women, brands such as Adolfo Dominguez, Ricardo Preto, Strathberry, LoQ, and Longchamp offer eye-catching pieces ranging from tops, bottoms, bags, and footwear in red, yellow, and grey. Accessorizing for prosperity may also be considered: for example, Christian Louboutin’s logo belt and Aquazzura’s suede sneakers are comfy go-to’s for errands and casual days. For kids, they can spend their hongbaos on toys that stir imagination and curiosity. Lego’s Chinese New Year-themed set familiarizes children with the importance of tradition. Space-themed sandwich cutters from Lunch Punch and cooler bags from SoYoung also make snacks more enjoyable during playtime and home school sessions. Cute backpacks, Banz sunglasses, and Micro bikes and gear will also help children enjoy the rare taste of the outdoors. For the home, decorating in red is believed to bring luck all year long. Gorenje refrigerators in Fire Red add a strong yet minimalistic design to the kitchen. KitchenAid stand mixers come in Empire Red. Finally, tableware from Noritake, Bordallo Pinheiro, Bugatti, and Christofle create a luxurious atmosphere at home reminiscent of fancy dinners at restaurants. Use these on the eve of Chinese New Year for a memorable and stylish celebration. Meanwhile, Rustan’s East Cafe now has nián gāo, better known as tikoy. It is offering the Fortune Fish Tikoy Set for P580 until Feb 12. Pre-orders with down payments are processed three to five days prior to pick up. This is only available at East Cafe in Rustan’s Makati. For inquiries, contact 8812-0233.

Shop&Shop Valentine’s Day sale

WHETHER Valentine’s Day indoors or via Zoom, visit Shop & Shop — the new chat commerce channel of Rustan Marketing Corp. — on Facebook and find the perfect gift for your significant other or shop something the two of you can enjoy together. Until Feb. 13, score discounts up to 70% on beauty, fashion, luggage and home products, and have the item delivered right to the recipient’s doorstep for free with a minimum purchase of P1,000 (except on Tefal products). Shop & Shop is open from Monday to Saturday at 10 a.m. to 7 p.m. For weekly updates on the latest product offerings and daily exclusive promos, customers can stay connected via the following channels: Viber Community (Shop & Shop), Whatsapp (Shop & Shop), Facebook and Messenger (Shop & Shop by Rustan Marketing Corporation), and Instagram (@shopandshopbyrmk).

Self-care products from Shopee’s Valentines sale

WHO says you need a significant other to enjoy Valentine’s Day? What used to be an occasion meant only for couples is now a celebration for all kinds of love — including self-love. Enjoy up to 90% off on these self-care products during Shopee’s Valentine’s Day sale. Buy yourself some chocolate like the Dark Roca Chocolate Gift Box; or treat your skin with Mixdair Hyaluronic Acid Face Serum (it keeps skin plump and supple and improves skin elasticity and brightens skin tone); a Blackhead Vacuum Remover (it features three suction levels to accommodate different skin types and conditions); Teeth Whitening Activated Charcoal clears stains sans toxic ingredients (and helps fight cavities, gum disease, and bad breath); a Collagen Body Mask; the Innisfree Jeju Root Energy Mask (it has eight variants, each offering skincare benefits such as brightening, moisturizing, nourishing, firming, and clearing); the Etude House My Lash Serum which promises longer, stronger lashes); an Electric Massage Pillow comes with an optional heating function and eight massager nodes to relieve knots and muscle tension; and Onikuma K10 Pro Gaming Headset with noise reduction capabilities, stereo sound effects, and a flexible microphone; or the Lahome Juice Blender. These and more products are available with discounts of up to 90% until Feb. 14 on Shopee.

Tag Heuer, Porsche commence partnership with special-edition chronograph

Swiss luxury watchmaker TAG Heuer and Stuttgart-headquartered car maker Porsche announced the commencement of a longtime partnership with the launch of a new automatic chronograph. Launched online last Thursday, the TAG Heuer Carrera Porsche Chronograph Special Edition comes in a 44mm case, and is fitted with either a soft calf leather strap with Porsche-inspired stitching, or an interlocking bracelet. “What I really love about this watch is that it’s a Carrera sport chronograph infused with subtle and elegant design codes of Porsche,” said TAG Heuer CEO Frederic Arnault. A bright red “Porsche” inscription is engraved on the ceramic bezel which also features a tachymeter scale, while a textured dial is reminiscent of asphalt which TAG says “perfectly expresses a passion for the road.” Arabic numbers reflect the same style as that on the instrumentation of a Porsche vehicle. The watch is equipped with a Heuer 02 movement boasting 80 hours of power reserve; even the oscillating mass of the automatic chronograph is redesigned with inspiration from Porsche’s iconic steering wheel.

Investors pick Apollo as unit’s Cagayan offshore mining operations begin

By Jobo E. Hernandez, Researcher

MARKET investors snapped up Apollo Global Capital, Inc. shares last week after it firmed up its majority owned unit’s 10,000-ton-per-day magnetite iron ore offshore mining operation in Cagayan this month.

A total of 13.05 billion Apollo shares worth P2.78 billion were traded from Feb. 1 to 5, data from the Philippine Stock Exchange showed, making it the third most actively traded issue last week.

Shares in Apollo finished the week at 20.3 centavos apiece, 4.6% up from Jan 29’s 19.4 centavos. These have jumped by 24.5% since the start of the year.

“There was already a lot of positive speculation regarding Apollo’s mining operations beginning mid-January, which drove its share price to significant highs. [S]o once the firm confirmed the news [last] week, it was more or less already priced in — as seen from the thin price range Apollo has been trading at since the start of February,” Regina Capital Development Corp. Equity Analyst Anna Corenne M. Agravio said in an e-mail.

“It looks like investors are overall pretty optimistic about the prospects of the country’s mining industry, which could have also fueled Apollo’s trading volume,” Ms. Agravio added.

Mercantile Securities Corp. Analyst Jeff Radley C. See shared a similar view saying that the huge mineral reserve as well as iron ore gave a boost to Apollo’s share price.

“The market reacted positively even last year as news came out that it is the first ever offshore mining in the Philippines,” he said in a text message.

In a disclosure last Tuesday, Apollo said that its 90.47% owned subsidiary JDVC Resources Corp. is set to begin its magnetite iron ore offshore mining in Cagayan this month after it secured all environment and mining requirements.

JDVC also secured “satisfactory community acceptance” from the local government of Gonzaga, Cagayan.

It also said that JDVC partnered with Kinetic Holdings Corp. of nickel and restaurant magnate Frank Lao, who invested in three deep-sea mining vessels for a combined minimum output of 10,000 tons of ore per day.

Apollo said that its mining vessel MB Siphon I is already positioned to the mining site pending “favorable” weather conditions.

Apollo’s unit has a mining area of 1,902.59 hectares located 14 kilometers offshore the municipality of Gonzaga, Cagayan.

Magnetite ore is a source of iron for the iron and steel industries.

Last December, the Environment department gave the go-signal for the country’s largest offshore mining operations to JVDC to start in January after it secured necessary permits.

Apollo secured an up to P416-million credit line from the Development Bank of the Philippines last October to jump-start its iron ore production.

Incorporated in 1998, JDVC’s prime businesses are exploring, prospecting, and operating mines and quarries of all kinds of ores and minerals.

“The question now is how much can the company actually mine per vessel, and if the weather condition will cooperate. This is what the market is waiting for,” Mr. See said.

“On a technical standpoint, Apollo’s price range also attracted a lot of retail investors because of its volatility,” Ms. Agravio said.

This mining operation may provide a boost to the company’s earnings in the long term, not immediately, she said.

Apollo’s attributable net loss in the nine months to September widened to P11.11 million from P7.27-million loss in the same period in 2019.

For this week, Ms. Agravio pegged the stock’s support and resistance levels at 18 centavos and 24 centavos, respectively.

Mr. See expects Apollo to trade in a range for now between 19 centavos and 25 centavos.

How much did each commodity group contribute to January inflation?

How much did each commodity group contribute to January inflation?

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