Facebook Instagram Linkedin Twitter Youtube
Home Blog Page 6894

Karaoke show Sing Galing makes a TV comeback

AFTER being off the air for 16 years, the karaoke game show Sing Galing! returns to TV5 on April 5, offering viewers an evening singing session prior to the primetime series lineup.

Sing Galing! first aired from 1998 to 2005 on ABC-5. During its run, it won entertainment awards including the 2000 PMPC Star Awards for Television for Best Game Show.

In the latest version of the game show, each episode features three contestants (a.k.a. “singtestants”) who compete through three rounds of karaoke singing. The songs will be chosen randomly for each contestant. The contest also offers a bonus round where contestants sing to a randomly selected song with missing lyrics.

During the karaoke rounds, the game show’s signature animated genie appears on screen to strike a gong when a contestant goes out of tune or misses lyrics — making the contestant miss the chance of winning. The winners will vye for the grand finals.

The new show is hosted by “sing masters” — singer Randy Santiago and comedians Donita Nose (a.k.a. Rodello Juntos Solano) and K Brosas — with singers Rey Valera, Ronnie Liang, and Jessa Zaragoza as the judges. The audience can also participate in activities and in online Sing Galing! segments hosted by singer Zendee.

“May mga portion na hindi mo alam kung ano ang kakantahin mo. So, it’s understandable kahit sumabit ka. (There are portions that you would not know what to sing. So, it’s understandable if you missed),” Mr. Valera said in a press launch held over Zoom on March 26.

“Hindi kami pressured na husgahan [ka], at naintindihan namin [at] ng mga manonood yung nangyayari (We are not pressured to judge you, and we and the audience understand what happens),” Mr. Valera said about his role as a game show judge, adding that there is no serious criticism on singing dynamics in their show compared to a talent show.

“Napanood ko ito dati… Hindi kasi siya napakapormal tapos may tawanan din… Dito mo makikita ‘yung culture ng mga Filipino bilang mga singer, mga mahihilig sa videoke (I have watched the show before… It is not very formal and it is also funny… it shows the culture of Filipinos as singers, as those who love videoke singing),” Donita Nose said.

Aside from being within the age bracket of 18 to 60 years old, Donita Nose said that qualifying contestants should be strong-willed, love to sing karaoke, have extensive knowledge of songs, and sing at performance level.

Sing Galing, Ang Original Videoke Kantawanan ng Bansa! will air Mondays to Fridays at 6:30 p.m. on TV5 beginning April 5. — Michelle Anne P. Soliman

Atlas Mining returns to profitability with P118-M net income

ATLAS CONSOLIDATED Mining and Development Corp. recorded a P118-million net income last year due to improved production and higher metal prices.

The listed mining firm disclosed in a regulatory filing on Monday that its net income for 2020 is a reversal from the P565-million net loss it had the year earlier.

Revenues last year reached P18.32 billion, a 7% increase from P17.13 billion in 2019, while its earnings before interest, tax, depreciation, and amortization (EBITDA) rose 45.8% year on year to P8.92 billion.

“The improvement in the bottom line is attributed to the sustained stability of operation and production, the significant increase in gold volume, the increase in metal prices in the second half and the decrease in operating costs,” Atlas Mining said in the disclosure.

Gold output of the company’s Cebu-based wholly owned subsidiary, Carmen Copper Corp., reached 47,857 ounces for 2020, a 26.7% increase from 37,786 ounces in 2019.

Carmen Copper also produced 107.09 million pounds of copper metal in 2020, a drop of 0.1% from the 107.24 million pounds it had the year earlier.

“Milling tonnage increased by 5% from 17.57 million tons to 18.37 million tons. On the other hand, copper grades decreased by 5% from 0.319% to 0.304%; while gold grade significantly improved by 31% from 6.24 grams per dry metric tons (DMT) to 8.17 grams per DMT,” Atlas Mining said in the disclosure.

“Copper metal content of concentrate shipped decreased by 4% to 106.07 million pounds, while gold content increased by 23% to 43,480 ounces due to higher gold grade,” it added.

According to Atlas Mining, the average realized copper price for 2020 rose 2.6% to $2.79 per pound, while the average realized gold price also improved 27.5% to $1,777 per ounce.

The company added that cash costs also fell 14.3% year on year to P9.51 billion due to decreases in waste stripping, fuel, power, explosives, and maintenance parts.

Adrian Paulino S. Ramos, Atlas Mining president, said the company had been able to post growth in earnings due to improving metal prices and on the operational improvements it attained over the years.

“We are confident that these improvements will serve as an effective hedge against any downturn in the commodities market. We will continue to focus on operational stability and safety, cost efficiencies, and sustainability,” Mr. Ramos said in the disclosure.

On Monday, shares of Atlas Mining at the stock exchange improved 0.80% or five centavos to finish at P6.29 apiece. — Revin Mikhael D. Ochave

Gov’t hikes award of T-bills as investors flock to safer assets

THE GOVERNMENT hiked the volume of Treasury bills (T-bills) it awarded on Monday as rates went down across the board, with investors flocking to the safe-haven securities following the reimposition of stricter restrictions in the capital and nearby provinces.

The Bureau of the Treasury (BTr) borrowed P24 billion via the T-bills on Monday, more than the programmed P20 billion, as total tenders hit P79.33 billion or almost four times the amount on offer. The bids also climbed from the P64 billion in demand seen the previous week.

It also opened its tap facility to offer P5 billion in one-year T-bills.

Broken down, the BTr raised P7 billion from the 91-day debt, higher than the P5-billion program, with bids reaching P22.357 billion. The average rate of the three-month papers went down by 6.7 basis points (bps) to 1.269% from the 1.336% fetched last week.

It borrowed another P7 billion from the 182-day T-bills, more than the P5-billion plan, after the tenor attracted demand worth P21.507 billion. The average yield of the six-month debt fell by 10.9 bps to 1.609% from 1.718% previously.

Lastly, the Treasury made a full P10-billion award of the one-year securities on offer as tenders hit P35.466 billion. The 364-day T-bills fetched an average rate of 1.926%, down by 7.1 bps from the 1.997% quoted for the tenor last week.

“[We] see rates moderating as investors again flock to safe-haven assets,” National Treasurer Rosalia V. de Leon said in a Viber message to reporters after the auction on Monday.

Ms. De Leon said there is still enough liquidity in the financial system. She noted that the recent spike in inflation, which has been a growing concern among investors, is only transitory, as emphasized by the central bank in its latest meeting.

Meanwhile, a bond trader said the rates of short-term government securities went down on strong investor demand as the stricter lockdown imposed in the capital and surrounding provinces raised questions about the economy’s prospects for recovery.

Metro Manila, Bulacan, Cavite, Laguna and Rizal have been placed under the strictest form of lockdown again for one week starting Monday in a bid to curb the surge in coronavirus disease 2019 (COVID-19) cases.

Economists warned the tighter measures will hamper the economy’s rebound as it dampens confidence among consumers, businesses and investors.

Meanwhile, the Bangko Sentral ng Pilipinas (BSP) last week kept benchmark rates steady at record lows despite rising inflation as it supports an economy whose recovery is at risk from a renewed surge in COVID-19 infections.

The Monetary Board kept the overnight reverse repurchase rate at an all-time low of 2% for a third consecutive meeting. Rates for the overnight lending and deposit facilities were also maintained at 2.5% and 1.5%, respectively.

The central bank has kept borrowing costs unchanged since its December meeting, but BSP Governor Benjamin E. Diokno has said they will respond accordingly when the need arises, especially if rising inflation causes second-round effects.

Headline inflation reached 4.7% in February, the highest since the 5.1% in December 2018.

The central bank upwardly revised its inflation outlook to 4.2% this year from the forecast of 4% given in February. The average print for 2022 is seen at 2.8%, slightly higher than the previous projection of 2.7%.

The central bank chief also said on Wednesday that 2021 is “too early” for the BSP to unwind the easy policy it implemented at the height of the pandemic as the economy is still recovering. He said there is a need to maintain monetary policy accommodations for the BSP’s price and financial stability objectives.

Excluding the result of the tap facility auction on Monday, the BTr raised P169 billion from the domestic bond market this month, higher than the programmed P160 billion. This is composed of P109 billion in T-bills and P60 billion in Treasury bonds (T-bonds)

The Treasury wants to raise P170 billion from the local bond market next month, broken down into P100 billion in T-bills to be offered weekly and P70 billion via fortnightly auctions of T-bonds.

The government is looking to borrow P3 trillion this year from domestic and external lenders to help fund its budget deficit seen to hit 8.9% of gross domestic product. — Beatrice M. Laforga

British royal Kate launches book of portraits to remember pandemic

NPGSHOP.ORG.UK/

KATE, the Duchess of Cambridge, on Sunday launched a book of photographic portraits taken during Britain’s coronavirus disease 2019 (COVID-19) lockdowns that she said would provide a lasting record of the pandemic.

Ms. Kate, who is married to Prince William, the Queen’s grandson and second in line to the throne, began the project with the National Portrait Gallery last year, inviting people to submit photos taken during Britain’s first coronavirus lockdown.

A panel of judges including Ms. Kate chose 100 portraits from over 31,000 entries, which were shown in digital and community exhibitions before the book was announced.

“Through Hold Still, I wanted to use the power of photography to create a lasting record of what we were all experiencing — to capture individuals’ stories and document significant moments for families and communities as we lived through the pandemic,” Ms. Kate wrote in the introduction to the book.

The book, called Hold Still: A Portrait of Our Nation in 2020, will be available from May 7,  exactly a year after the project began. Net proceeds will be split between the National Portrait Gallery and the British mental health charity Mind. — Reuters

Petron to enhance Bataan oil refinery

PETRON CORP. is looking at building additional components in its 180,000 barrels-per-day (bpd) refinery in Bataan in a bid to shift to cleaner technology and speed up the transfer of goods, according to a project description report from the Department of Environment and Natural Resources (DENR).

The firm is proposing to build a refinery solid fuel fired boiler phase 3 (RSFBB-3), a 500-meter fuel transfer line connecting to the SL Harbor Bulk Terminal Corp. (SLHBTC) and six support facilities, which are collectively known as the “Petron Refinery Special Projects.”

In its project description, Petron said that the special projects aim to help the refinery shift to cleaner technology by replacing its fuel oil-fired boilers, and “alleviate the pier and tank utilization” by building new transfer facilities.

The firm, however, clarified that the installation of the new components will not increase its production capacity.

The projects will be located at Brgy. Alangan in Limay. “The facilities (RSFFB-3 and transfer line) will be separately located in areas within the boundaries of Petron Bataan Refinery, Panasia (Energy, Inc.) and SLHBTC,” Petron said.

On Friday, the DENR said that it would hold a public scoping activity for Petron’s special projects on April 5 via Microsoft Teams video conferencing. The environment department said that those who wish to participate are encouraged to attend the event and provide their inputs during the review period.

A public scoping is part of the department’s environment impact assessment process where the project proponent is given the chance to provide an overview of the planned project, and gather issues and concerns, among others.

Two months ago, Petron said that it was infusing close to P3 billion to improve its refinery operations in Bataan, after registering in the province’s freeport area. The approval of the firm’s application by the Authority of the Freeport Area of Bataan allowed its refinery to avail of tax perks.

The company previously announced that the refinery would push forward with the economic shutdown of operations in 2021. Earlier, Petron President and Chief Executive Officer Ramon S. Ang announced the temporary shutdown of refinery operations to “reduce losses due to weak margins.”

Petron reported a net loss of P11.4 billion last year, swinging from a net income of P2.3 billion a year earlier as sales dropped due to the pandemic. For the full-year 2020, the firm’s consolidated sales volume slid 27% to 78.6 million barrels compared to its 2019 value.

Shares of Petron in the local bourse inched down 1.28% or four centavos to finish at P3.09 on Monday. — Angelica Y. Yang

BSP seen keeping rates steady this year to support economy

THE BANGKO SENTRAL ng Pilipinas (BSP) is likely to keep its policy settings untouched in 2021 to support recovery, analysts said, with a rate hike expected to happen if inflation risks persist.

“The BSP will look to the slow domestic recovery as a reason to keep monetary policy accommodative, particularly with uncertainty around the pandemic still high,” Fitch Solutions Country Risk & Industry said in a note.

The central bank maintained benchmark rates at record lows last week as it supports an economy whose recovery is at risk from a renewed surge in coronavirus infections.

The Monetary Board kept the overnight reverse repurchase or policy rate at an all-time low of 2% for a third consecutive meeting. Rates for the overnight lending and deposit facilities were also maintained at 2.5% and 1.5%, respectively.

The central bank slashed rates by 200 basis points last year. The Monetary Board has six more policy-setting meetings this year, with the next one set on May 13.

Fitch Solutions said the renewed lockdown and stricter restriction measures in Metro Manila and some provinces strengthen the case for the BSP to hold its policy settings for the whole year.

“We expect this to spur the BSP to keep monetary conditions loose as domestic activity remains below pre-pandemic levels and spare capacity is large. Compounding this is the lack of credit growth despite loose monetary conditions,” it said.

Outstanding loans by big banks fell for the second straight month by 2.4% in March as lenders remained risk-averse due to the pandemic.

Separately, Nomura Global Markets Research also projects a base case scenario of a pause for the whole of 2021.

“We continue to expect the policy rate to remain unchanged at 2% this year, but still see a rising risk of rate hikes if BSP’s expectation of inflation moderating by the fourth quarter does not materialize,” Nomura Global Markets Research analysts Euben Paracuelles and Rangga Cipta said in a note on Friday.

“While we think BSP sounded more hawkish [on Thursday], it is also unlikely to be signaling that rate hikes are imminent as it continues to see limited signs of second-round effects of inflation,” the analysts said.

The central bank upwardly revised its inflation forecast for the year to 4.2% (from 4%), above the 2-4% target for 2021. Meanwhile, the outlook for 2022 was also raised to 2.8% from 2.7% previously.

Inflation reached 4.7% in February due to higher food prices caused by typhoons and the African Swine Fever that tightened supply. This was the fastest print since the 5.1% in December 2018.

BSP officials have said they remain watchful for signs of broader-based inflation, but said supply-side factors would not warrant an “earlier-than-planned” exit from easy monetary policy. — L.W.T. Noble

Belarus disqualified from Eurovision Song Contest

MOSCOW —  Organizers of this year’s Eurovision Song Contest have disqualified Belarus, ruling that its entry song — by a band whose lyrics have been deemed in the past to mock anti-government protests — is in breach of competition guidelines.

Earlier this month the organizers rejected an entry by Belarus, which has been gripped by a political crisis since Aug. last year, as the submitted song mocked protests against President Alexander Lukashenko.

The song, by the band Galasy ZMesta, sparked a backlash from opposition figures in Belarus, who have faced a violent crackdown during the protests.

After the European Broadcasting Union (EBU) rejected the song, Belarus submitted another option, by the same band. But late on Friday the EBU also turned that down.

It said in a statement that it had “carefully scrutinized the new entry to assess its eligibility to compete” but found it to be “in breach of rules of the competition that ensure the Contest is not instrumentalized or brought into disrepute.”

This means Belarus will not be participating in the Eurovision Song Contest at all, the EBU said. The contest takes place on May 18-22 in Rotterdam.

Opposition has grown in Belarus to Mr. Lukashenko’s rule following an Aug. election that demonstrators say was rigged to extend his 27-year rule, leading to mass unrest and a violent crackdown.

Rights groups say over 34,000 people have been detained. The government says it is being unfairly maligned. The president denies electoral fraud and has accused the West of sponsoring the protests. — Reuters

BoI cites Taiwan’s Sercomm as local output reaches millions

THE local production of broadband and wireless network equipment manufacturer Sercomm Philippines, Inc. recently reached 10 million units of telecommunications equipment, the Board of Investments (BoI) said.

Having started operations at the Carmelray industrial Park 1 in Laguna in 2019, Sercomm has invested $45 million to date. The company employs around 2,000 people in its Philippine facility, the investment promotion agency said in a press release on Monday.

“We plan to continuously expand our operations to support future business growth in the local and global markets,” Sercomm Chief Executive Officer James Wang said.

The publicly listed Taiwanese company’s revenues reached $219 million in the first two months of 2021, up 41% from $155 million in the same period last year. Total revenues last year reached $1.27 billion.

“[The company’s] decision to put up a Philippine facility barely two years ago, played a major part of its global operations as validated by the numbers in its recent filing,” BoI Managing Head Ceferino S. Rodolfo said.

“Recognizing the opportunities then and the ability to meet global demand by strategically growing their capabilities in the Philippines in support of their global supply chain in a relatively short period has certainly contributed to these milestones.”

Mr. Rodolfo continued to promote the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, which would cut corporate income tax and reform the Philippine incentives system. President Rodrigo R. Duterte on Friday vetoed nine sections of the bill.

Sercomm is headquartered in Taiwan, where it also has production sites and research centers. — Jenina P. Ibañez

No loan moratorium during ECQ — BSP

THERE WILL BE no mandatory loan moratorium despite the reimposition of stricter lockdown measures, the Bangko Sentral ng Pilipinas (BSP) said, even as it urged banks to provide relief measures to borrowers amid the situation.

The central bank said in a statement shared by BSP Governor Benjamin E. Diokno to reporters through Viber that the mandatory 30-day grace period mandated by the Republic Act No. 11469 or the Bayanihan to Heal as One Act is not applicable despite the reimposition of the enhanced community quarantine (ECQ) in Manila as the law was only effective until June 1, 2020.

Following this, another 60-day loan moratorium under Republic Act No. 11494 or the Bayanihan to Recover as One Act was also granted, which expired on Dec. 31.

“The BSP strongly encourages BSP-supervised financial institutions to continue to provide relief measures to its clients by renewing, restructuring, or extending the terms of the loans, among others, based on their continuing assessment of their cash flows,” the central bank said.

Latest data from the BSP showed the nonperforming loan (NPL) ratio of big banks stood at 3.7% in January, inching up from the 3.61% in December and the 2.16% a year earlier. This was equivalent to P392.256 billion in bad loans, climbing 67% from the P234.987 billion seen in January 2020.

“The BSP will continue to closely monitor the impact of the pandemic on the financial industry to promptly address any emerging risk and to support a sustainable economic recovery,” it said.

Metro Manila and surrounding provinces Cavite, Laguna, Rizal, and Bulacan are placed under the tightest restriction measures from March 29 to April 4 in an effort to prevent further virus spread as cases surge. — L.W.T. Noble

Ask him anything: William Shatner’s life story to live on through AI

William Shatner — IMDB.COM

LOS ANGELES —  Actor William Shatner, best known for forging new frontiers on the Star Trek TV series, has tapped new technology that will give current and future generations the chance to query him about his life, family, and career.

Shatner, who turned 90 on Monday last week, spent more than 45 hours over five days recording answers to be used in an interactive video created by Los Angeles-based company StoryFile.

Starting in May, people using cellphones or computers connected to the internet can ask questions of the Shatner video, and artificial intelligence (AI) will scan through transcripts of his remarks to deliver the best answer, according to StoryFile co-founder Stephen Smith.

Fans may even be able to beam Mr. Shatner into their living rooms in future, Mr. Smith said, as Shatner was filmed with 3-D cameras that will enable his answers to be delivered via a hologram.

Mr. Shatner, who played Captain Kirk on Star Trek from 1966 to 1969 and in a later series of Star Trek movies, answered 650 questions on topics from the best and worst parts of working on the classic sci-fi show to where he grew up and the meaning of life.

The Canadian-born actor said he “wanted to reveal myself as intimately as possible” for his family and others.

“This is a legacy,” Mr. Shatner said. “This is like what you would leave your children, what you’d leave on your gravestone, the possibilities are endless.” — Reuters

Pacific Online enters joint venture to bid for lease of lottery system

PACIFIC Online Systems Corp. entered a joint venture (JV) for a government bidding with the Philippine Gaming Management Corp. (PGMC) and International Lottery & Totalizator Systems, Inc. (ILTS).

The three will participate in the procurement by the Philippine Charity Sweepstakes Office (PCSO) for a five-year lease of its customized lottery system called the 2021 PLS Project. The bid submission is scheduled for Monday.

“A successful bid by the joint venture will mean that Pacific Online will continue on as part of the group, which will be leasing new online lottery equipment for the lotto operations nationwide of the PCSO,” the company said in a disclosure to the exchange on Monday.

Under the conditions of the joint venture, Pacific Online will cover 50% of the investment, PGMC will account for 49%, and ILTS will contribute 1%.

PGMC will be assigned as the lead joint venture partner and is expected to represent the three companies through the bidding process.

“Arrangements with regard to the management and operations of the joint venture company, once it is formally organized as a separate juridical entity will be agreed upon at a later date,” Pacific Online said.

The joint venture will have to be incorporated and registered with the Securities and Exchange Commission as required by the PCSO bidding rules.

Pacific Online provides technical and market expertise on lottery product distribution in the Philippines with state-run PCSO through an existing maintenance repair agreement and an equipment lease agreement.

On Monday, Pacific Online shares at the stock exchange rose by 2.88% or P0.06 to close at P2.14 apiece. — Keren Concepcion G. Valmonte

Cebu Pacific operator lists convertible preferred shares at stock exchange

CEBU AIR, Inc., the listed operator of budget carrier Cebu Pacific, announced on Monday that 328.95 million of its convertible preferred shares with a par value of P1 per share are now ready to be traded on the main board of the Philippine Stock Exchange (PSE).

“Despite the numerous challenges that airlines are currently facing, Cebu Pacific was able to raise approximately P12.49 billion ($256 million) from existing shareholders,” Cebu Air said in a disclosure to the stock exchange on Monday.

The listed company added that the success of its fund-raising activity is “reflective of the belief that shareholders have, not only in the long-term prospects of Cebu Pacific, but also its vital role in the economic recovery of the Philippines.”

The company has said the amount raised would help it address financial liabilities, including repayment of an advance by JG Summit Philippines Ltd., aircraft operating lease payments, principal debt repayments, and passenger refunds, among others.

Cebu Air recently announced that its board approved a P16-billion, 10-year loan from local banks.

The loan would be used to fund its capital expenditures and other general corporate purposes.

The loan should also provide a cushion against “unexpected working capital requirements that may stem from fuel price and foreign exchange rate volatility,” Cebu Air said in an announcement.

Cebu Air shares closed 1.58% higher at P45 apiece on Monday. — Arjay L. Balinbin

1...6,8936,8946,895...12,841Page 6,894 of 12,841
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin Twitter Youtube