China property sector could see ‘significant’ policy easing

January 25, 2022 | 12:03 am

NEW YORK — China’s real estate sector will likely see “significant easing” in the policies that govern it, BNP Paribas Asset Management (BNPPAM) said, months after starting to build a long position in that sector’s debt.

“We are of the view that we are at a major inflection point in terms of policy and we are likely to see some significant easing,” said Jean Charles Sambor, head of emerging market fixed income at BNPPAM in London.

“We are involved in the sector and we are positive in the sector. We have built this position over the last couple of months.”

Sambor could only discuss the overall sector, not company-specific investments.

Chinese real estate sector assets came under a lot of pressure last year after stricter financing rules for property development set in 2020 met with a mountain of debt, effectively engineering a contraction. The outsized importance of China’s real estate in the global economy sent shivers down many portfolio manager backs.

The CSI China Mainland Real Estate Index fell as much as 28% last year before closing down 15%, with stocks in China Evergrande, one of the biggest developers in the midst of a restructuring, down 89% in 2021.

Evergrande carries about $300 billion in liabilities including some $20 billion in international bonds. The foreign bonds, which traded above 90 cents in some cases last year, are now at default levels at under 20 cents on the dollar.

“The property market had been under pressure because (the government) wanted to deleverage and to some extent they achieved that,” Sambor said. “Now China wants to make sure that the rest of the sector is not at risk.”

Some international investors expect state-owned enterprises (SOEs) to help smooth debt restructurings, but others worry that it could open the door for Beijing to use the limited returns to pay its local debts first.

Sambor said a sector restructuring cannot be led by the state because private sector involvement in the property market is very large.

“SOEs are a significant part of the market but are not dominating it so it is difficult for them to engineer an SOE-lead restructuring. You need to have strong participation from the private sector,” he said.

Sambor said BNPPAM’s view on the real estate sector is part of a wider bet on fixed income returns within emerging markets.

“We think it’s going to be the year of the great normalization in Asia high yield, with a focus on China,” Sambor said. “Asian high yield, and China more specifically, will be a key driver of EM fixed income performance in 2022.” — Reuters

Thich Nhat Hanh, poetic peace activist and master of mindfulness, 95

January 25, 2022 | 12:03 am

THICH NHAT HANH, the Zen Buddhist monk, poet, and peace activist who in the 1960s came to prominence as an opponent of the Vietnam War, died on Saturday aged 95 surrounded by his followers in the temple where his spiritual journey began.

“The International Plum Village Community of Engaged Buddhism announces that our beloved teacher Thich Nhat Hanh passed away peacefully at Tu Hieu Temple in Hue, Vietnam, at 00:00hrs on 22^nd January, 2022, at the age of 95,” said his official Twitter account.

His week-long funeral will be held at the temple in a quiet and peaceful manner, according to his followers.

“Thich Nhat Hanh will be remembered as arguably one of the most influential and prominent religious leaders in the world,” Chargé d’Affaires Marie C. Damour of the US Mission to Vietnam said in a statement.

“Through his teachings and literary work, his legacy will remain for generations to come,” she said, adding that his teachings, in particular on bringing mindfulness into daily life, have enriched the lives of innumerable Americans.

In a body of works and public appearances spanning decades, Thich Nhat Hanh spoke in gentle yet powerful tones of the need to “walk as if you are kissing the earth with your feet.”

He suffered a stroke in 2014 which left him unable to speak and returned to Vietnam to live out his final days in the central city of Hue, the ancient capital and his place of birth, after spending much of his adult life in exile.

As a pioneer of Buddhism in the West, he formed the Plum Village monastery in France and spoke regularly on the practice of mindfulness — identifying and distancing oneself from certain thoughts without judgement — to the corporate world and his international followers.

“You learn how to suffer. If you know how to suffer, you suffer much, much less. And then you know how to make good use of suffering to create joy and happiness,” he said in a 2013 lecture.

“The art of happiness and the art of suffering always go together.”

Born Nguyen Xuan Bao in 1926, Thich Nhat Hanh was ordained as a monk as modern Vietnam’s founding revolutionary Ho Chi Minh led efforts to liberate the Southeast Asian country from its French colonial rulers.

Thich Nhat Hanh, who spoke seven languages, lectured at Princeton and Columbia universities in the United States in the early 1960s. He returned to Vietnam in 1963 to join a growing Buddhist opposition to the US-Vietnam War, demonstrated by self-immolation protests by several monks.

“I saw communists and anti-communists killing and destroying each other because each side believed they had a monopoly on the truth,” he wrote in 1975.

“My voice was drowned out by the bombs, mortars and shouting.”

“Venerable Thich Nhat Hanh lived a truly meaningful life. I have no doubt the best way we can pay tribute to him is to continue his work to promote peace in the world,” the Dalai Lama, the spiritual leader of Tibetan Buddhism, said on Twitter.

‘LIKE A PINE TREE’
Towards the height of the Vietnam War in the 1960s he met civil rights leader Martin Luther King, whom he persuaded to speak out against the conflict.

Mr. King called Thich Nhat Hanh “an apostle of peace and non-violence” and nominated him for the Nobel Peace Prize. “I do not personally know of anyone more worthy of the Nobel Peace Prize than this gentle Buddhist monk from Vietnam,” Mr. King wrote in his nomination letter.

While in the United States to meet King a year earlier, the South Vietnamese government banned Thich Nhat Hanh from returning home.

Fellow monk Haenim Sunim, who once acted as Thich Nhat Hanh’s translator during a trip to South Korea, said the Zen master was calm, attentive and loving.

“He was like a large pine tree, allowing many people to rest under his branches with his wonderful teaching of mindfulness and compassion,” Haemin Sunim told Reuters. “He was one of the most amazing people I have ever met.”

Thich Nhat Hanh’s works and promotion of the idea of mindfulness and meditation have enjoyed a renewed popularity as the world reels from the effects of a coronavirus pandemic that has killed over a million people and upended daily life.

“Hope is important, because it can make the present moment less difficult to bear,” Thich Nhat Hanh wrote. “If we believe that tomorrow will be better, we can bear a hardship today.

“If you can refrain from hoping, you can bring yourself entirely into the present moment and discover the joy that is already here.” — Reuters

Quasi-banks book 10.3% NPL ratio at end-Sept.

January 25, 2022 | 12:03 am

BAD DEBT held by quasi-banks stood at P14.501 billion for a nonperforming loan ratio (NPL) of 10.3% as of September 2021, data from the Bangko Sentral ng Pilipinas (BSP) showed.

Quasi-banks’ bad loans rose by 6.9% year on year from the P13.562 billion seen as of September 2020. Their NPL ratio inched up from the 10.2% a year earlier, but was a tad lower than the 10.4% seen as of end-June.

Meanwhile, the industry’s gross loan portfolio rose by 5.6% year on year to P140.801 billion as of September from P133.335 billion a year ago.

Nonperforming assets (NPAs) of quasi-banks, which include real and other properties acquired, increased by 9.5% year on year to P16.044 billion from P14.654 billion.

The industry’s restructured loans hit P2.138 billion, surging 79.5% from the P1.191 billion last year.

Quasi-banks boosted their loan loss reserves by 36.9% year on year to P5.414 billion from P3.955 billion. These buffers made up 3.8% of their total loan portfolio, increasing from the 3% seen as of end-September 2020.

This brought their NPL coverage ratio to 37.3%, improving from the 29.2% seen a year earlier.

Meanwhile, allowance on NPAs also climbed 36.2% year on year to P5.607 billion from P4.118 billion.

With this, their NPA coverage rose to 35% from 28.1% from a year earlier.

BSP-supervised financial institutions with quasi-banking functions include financing companies and investment houses.

Last week, the Department of Finance said five asset management companies have been set up to will help financial institutions unload their nonperforming assets to clean their balance sheets. This is in line with the Financial Institutions Strategic Transfer (FIST) Law, which took effect in February 2021.

Quasi-banks may also sell their nonperforming assets to FIST corporations that are registered with the Securities and Exchange Commission. — L.W.T. Noble

Axelum sees robust global demand for its products

January 25, 2022 | 12:03 am

AXELIM Resources Corp. expects stronger growth for its coconut products this year as it forecasts robust global demand based on the country’s export performance for most of last year.

“We are seeing increasing requirements for coconuts owing to stronger preferences for nutritiously-laden food labels by a thriving health-conscious population. Last year, Axelum catered to a larger customer base and managed to outpace industry growth to accelerate global market leadership,” Axelum President and Chief Operating Officer Henry J. Raperoga said in a media release on Monday.

The manufacturer and exporter of coconut products cited a surge in coconut sales abroad to boost Philippine exports last year.

From January to November 2021, it said coconut exports were up 54% to $1.74 billion from $1.13 billion. It added that the top commodities were coconut oil and desiccated coconut with a growth of 54% and 49%, respectively.

“Based on third-party estimates, the global coconut products market is projected to reach $31.1 billion by 2026, with a compound annual growth rate (CAGR) of 14% from 2018. Aside from traditional categories, market drivers include the fast-rising coconut water and coconut milk powder segments,” the company said.

“Coconut water is a popular and healthier alternative to sugary and caffeinated drinks while coconut milk powder is an extensively-used universal food ingredient particularly for much-sought all-natural diets,” it added.

For 2022, Axelum said it would expand its nut processing and storage capabilities to improve the yield of its core products. It is also scheduling planned rollouts of multiple food products to the American market by the second half of the year.

From January to September last year, the company’s net income rose 51.1% to P578.7 million from P383.1 million in 2020.

In the third quarter alone, its net income increased 44.5% to P260.3 million from P180.2 million in the same quarter in 2020.

At the stock exchange on Monday, Axelum shares were unchanged at P2.88 each. — Luisa Maria Jacinta C. Jocson

Airbnb says ‘live anywhere’ trend here to stay

January 25, 2022 | 12:02 am

MANY COMPANIES expect to continue implementing remote and hybrid work schemes in the near future, which Airbnb says would allow more people to live anywhere they want.

“This Live Anywhere trend is like a decentralization of living, and it’s changing the identity of travel,” the home rental company said in a statement.

Airbnb said it has seen an increase in long-term stays in the third quarter of 2021.

“In Q3 2021, over 85% of long-term stay nights booked in the Philippines were for stays in urban destinations. Metro Manila, Metro Cebu and Baguio emerged as the top most searched destinations for long-term stays,” it said.

Airbnb also expects more people giving up their leases to become “digital nomads.”

“The share of Airbnb long-term stay bookers who used their stays to lead a nomadic lifestyle grew from 9% (in 2020) to 12% (in 2021). In the Philippines, 45% of Filipinos polled want to rent out their homes and travel,” it said.

More cities and countries will tweak their visa and tax rules to attract these remote workers, Airbnb said.

What makes us human

January 25, 2022 | 12:02 am

By Michelle Anne P. Soliman, Reporter

Album Review
The Gods We Can Touch
Aurora
Decca Records

THE PURSUIT for perfection, the constant doubt of one’s inner beauty, and worthiness to be loved are some of the introspections that Norwegian singer-songwriter Aurora Aksnes sings about in her new album.

In the two years since the release of her last album in 2019, Ms. Aksnes has had stint on Disney’s Frozen 2 as the voice of the North Wind, and joined Idina Menzel and nine other singers in a live performance of “Into the Unknown” at the 92^nd Academy Awards in 2020. In 2021, her 2015 single “Runaway” re-entered the music charts after going viral on TikTok.

On Jan. 21, Ms. Aksnes released her third studio album, The Gods We Can Touch.

In the album, Ms. Aksnes references Greek gods and goddess as perfect creatures and shows the listener that with their flaws, even gods are relatively human.

“They were more human, more relatable, almost touchable. Most importantly, they had flaws,” Ms. Aksnes wrote in the album’s storyline on Spotify. “This album is a celebration of all the things we should never be ashamed of; they are what make us human.”

While maintaining her signature ethereal and electropop sound, Ms. Aksnes experiments with other musical styles in specific tracks.

Unlike her previous albums — Infections of a Different Kind (Step 1) from 2018 and A Different Kind of Human (Step 2) from 2019 — which have songs with sexual and political themes and social issues, The Gods We Can Touch is more introspective, with songs about self-love, self-worth, appreciating your uniqueness, and accepting your flaws.

The 15-track album begins with “The Forbidden Fruits of Eden” with Ms. Aksnes’ signature high-pitched and icy harmonies. The 40-second intro track starts the album with a lightweight mood, as if you are listening to the musical score in a fantasy film’s opening scene.

The mood abruptly shifts to mysterious with the guitar plucking introduction to “Everything Matters” (featuring French singer Pomme). In this track, Ms. Aksnes sings of how simple things are great miracles.

In “Giving in to the Love,” he album’s third single takes inspiration from Prometheus, the god of fire, who sculpted humans. It is in this track where she sings of self-appreciation: “If I’ll be somebody, I’ll never let my skin decide it for me. I never had the world, so why change for it?” The song has a certain 1990s grunge rock sound.

It is followed by the dance tune “Cure for Me,” which carries a similar theme from the previous song with the repeated chorus line: “I don’t need a cure for me,” followed by an infectious circus theme sample.

The album’s first single and slow dance ballad, “Exist for Love,” is a break from the album’s first upbeat tracks. Serving as an ode to the goddess of love Aphrodite in the music video, Ms. Aksnes sings: “I can’t imagine how it is to be forbidden from loving, ‘cause when you walked into my life, I could feel my life begin.”

The second half of the album offers diverse musical styles — something different from the 25-year-old singer’s previous records.

“A Temporary High” (this writer’s personal favorite) takes the listener back to the 1980s pop sound with the track’s heavy use of synthesizers and danceable melody.

It is followed by “Artemis,” inspired by the story of the goddess of wild animals, vegetation, chastity, and childbirth. This one has a jazzy musical arrangement with violin and cello instrumentals.

The final three tracks — the hard-hitting folk-rock piece “Blood in the Wine,” the easy-listening “This Could be a Dream,” and the folk sounds and harmonies in “A Little Place Called the Moon” — succeed each other like a film soundtrack, narrating a story’s climax to its happy ending. The music can inspire the listener to imagine the landscapes and townsfolk in a fictional world.

Ms. Aksnes’ exploration of other musical styles is a bold move that only adds to her versatility. She also maintains the lyrical meaningful songwriting she is known for. And the album illustrates the importance of listening to songs in the order that the artist intends them to be heard — here they narrate a story from creation to self-discovery. Ms. Aksnes proves that being eccentric can be fun too.

To listen to The Gods We Can Touch and for more information, visit https://www.aurora-music.com/.

Himlayang Pilipino Plans placed under conservatorship

January 25, 2022 | 12:02 am

THE Insurance Commission has placed Himlayang Pilipino Plans, Inc. under conservatorship due to capital and trust fund deficiencies.

Insurance Commissioner Dennis B. Funa had previously issued a cease-and-desist order against the company due to its “inability or willingness to comply” with instructions to pay P112.3 million in capital deficiency and P184.88 million in trust fund deficiencies, the commission said in a press release Monday.

Capital deficiency means the firm’s liabilities exceeded the minimum buffers required under Republic Act (RA) No. 9829 or the Pre-Need Code of the Philippines.

The Pre-Need Code of the Philippines authorizes the IC to place a company under conservatorship if the company is in a state of continuing liability or unwilling to comply with the code’s requirements or the commission’s orders.

Mr. Funa said the pre-need company was given enough time to comply with instructions before the cease-and-desist order was issued.

“Notably, the company requested for various regulatory reliefs after it was apprised of the results of the verification of its 2020 annual statement,” the commission said.

This included requests for authority to venture into high-yielding investment portfolios, suspension of the directive to fund deficiencies, and withdrawal of the excess of trust funds for both education and pension plans.

“However, the requests were denied due to various legal considerations, which eventually led to the issuance of the cease-and-desist order and later, the conservatorship order,” the ICs said.

The commission in an email said the appointed conservator for Himlayang Pilipino Plans will come up with a rehabilitation plan to restore the company’s financial viability.

“Bearing in mind that the pre-need business is imbued with public interest, it is this commission’s mandate to safeguard of the rights and interests of the public while, at the same time, ensure the financial resilience of the business,” Mr. Funa said.

“We aim to restore the company to financial viability with the ultimate objective of protecting the interest of its planholders.”

Himlayang Pilipino did not immediately respond to a request for comment.

Latest data from the IC showed Himlayang Pilipino Plans had assets of P632.5 million as of Sept. 30, 2021. Trust fund investments stood at P310.03 million while its trust fund deficiency was at P144.75 million. Total liabilities were at P680.2 million while its paid-up capital was at P150 million. It booked a net loss of P6.44 million in the period. — JPI

NLEX Corp. to upgrade contactless systems; motorists served up 28%

January 25, 2022 | 12:02 am

NLEX Corp. on Monday said it is working to expand and upgrade its contactless systems to further improve customer service after serving 119 million motorists in 2021, up 27.96% from 93 million in 2020.

The enhancements planned for 2022 “include the installation of RFID early detection feature, installation and software upgrade of RFID card readers or contactless terminals, upgrade of system servers, and replacement of toll lane equipment — all aimed at improving the service to customers,” the company said in an e-mailed statement.

“About 29 more toll lanes will be equipped with enhanced scanners for faster RFID detection and additional 50 toll lanes will have new contactless terminals where customers can tap their Easytrip card to process their RFID transactions,” it added.

When completed, a total of 217 toll lanes will be equipped with RFID early detection features and 258 toll lanes with contactless terminals.

“We are innovating and adapting accordingly to improve our operations so we can provide customers with a quick and seamless experience both in our expressways and digital channels,” NLEX Corp. President and General Manager J. Luigi L. Bautista said.

The company said that traffic control gates as well as lane status and toll fare indicators on 187 toll lanes will also be replaced to improve efficiency.

It intends to launch this year an interactive chatbot system on its website and Facebook Messenger to “help customers get instant answers to their basic inquiries.”

As for its expansion plans, the company previously said that it targets to start this year the construction of a two-kilometer expressway section between the existing Mindanao Avenue toll plaza and Quirino Highway in Novaliches, Quezon City.

Upgrade work on the northbound portion of the Candaba Viaduct, a five-kilometer bridge between Pulilan, Bulacan and Apalit, Pampanga, will be started next month.

NLEX Corp. is part of Metro Pacific Tollways Corp., the tollway unit of Metro Pacific Investments Corp. (MPIC).

MPIC is one of three key Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT, Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Arjay L. Balinbin

Obiena declines PSC mediation

January 25, 2022 | 12:01 am

Legal battle between Obiena and PATAFA looms

By Joey Villar

A LOOMING legal battle between Olympian pole-vaulter Ernest John “EJ” Obiena and the Philippine Athletics Track and Field Association (PATAFA) emerge after the former on Monday formally declined the mediation proposed by the Philippine Sports Commission (PSC).

“It is with great regret that I am forced to officially withdraw from the PSC offer of mediation due to the bad faith of Mr. Juico and PATAFA,” said Mr. Obiena in a statement referring to PATAFA President Philip Ella Juico.

The World No. 6 and Asian record-holder accused the PATAFA of allegedly peddling lies that Sergey Bubka and Ukrainian coach Vitaly Petrov voluntarily executed their respective affidavits and that the former concealed Mr. Petrov’s bank details so the money will be coursed through him.

Mr. Obiena also lashed at PATAFA for attacking his mother, former PATAFA auditor Jeanette Obiena.

“Where is the dignity and respect in that? I do not believe I can enter into any mediation with people who are seemingly focused on destroying me,” said Mr. Obiena. “For me, hurling multiple false accusations, hiding information and lying are not the framework for good faith and mediation.

“They used friends, relatives and fellow athletes as pawns of their aggression,” he added.

It will be the second time Mr. Obiena declined to join the mediation.

And the decision may have worsened the already gloomy situation as PATAFA’s two-week moratorium delaying the implementation of the recommendations of its fact-finding panel, which included Mr. Obiena’s expulsion from the national team and a filing of an estafa case against him, to give way for the mediation has expired.

PATAFA has accused Mr. Obiena of allegedly falsifying liquidations concerning payments to Mr. Petrov, which the Southeast Asian Games gold medalist has repeatedly denied.

At press time, there is no word yet from PATAFA on its next move.

The PSC, for its part, has started its own probe and tasked a team headed by its executive director Atty. Guillermo Iroy to look deeper into the matter.

“Last week, PSC accounting with the supervision of CoA (Commission on Audit) started investigation with PSC board approval,” said PSC chairman William Ramirez.

“The executive director is entrusted by the board to take charge of this investigation and will make appropriate advisory to the two parties.”

RLC Residences extends help to typhoon victims

January 25, 2022 | 12:01 am

RLC RESIDENCES extended assistance to the homeowners and employees of its Cebu projects, in the aftermath of Typhoon Odette.

The RLC Residences’ property management office worked with its counterpart in Manila to secure much-needed supplies to Cebu. Universal Robina Corp. provided food, drinking water, and other supplies to the residents and employees of Azalea Place and AmiSa Private Residences, located in Cebu.

The property management office also worked alongside Phoenix Petroleum Philippines to supply the diesel needed for the properties’ generator sets.

RLC Residences also announced that it will waive all penalties and interests incurred for late payments starting Dec. 16, 2021, to Jan. 31, 2022. This covers property buyers in typhoon-stricken areas, including Cebu, Bohol, Negros, Surigao, Siargao, Iloilo, Samar, Leyte, and Palawan.

Entertainment News (01/25/22)

January 25, 2022 | 12:01 am

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Sayaw ng Dalawang Kaliwang Paa focus of Muni-Muni Stories

EPISODE 4 of Muni-Muni Stories sees Alvin Yapan, Jema Pamintuan, and Ada Tayao discussing the soundtrack of the 2011 film, Sayaw ng Dalawang Kaliwang Paa. The episode is now available on Spotify. Sayaw ng Dalawang Kaliwang Paa (2011) takes the audience through the lives of artists caught up in a love triangle. The love of dance wakens in Karen, Marlon, and Dennis other kinds of desire. They struggle to transform the subtle, complex emotions swirling in their love triangle, through poems, music, and bodily rhythm. Alvin Yapan, Jema Pamintuan, and Ada Tayao together create a lively, reflective discussion on Litanya, one of the poems featured in the movie. Written by Merlinda Bobis, the poem provides the basis of the film’s the main soundtrack. This episode’s trio recounts working with the poem and gives the audience a snapshot of how the movie and the song both came to life. Muni-Muni Stories Season 2 is exclusively available on Spotify. Episode 5 will feature director Khavn discussing the soundtrack of his 2017 film, Balangiga: Howling Wilderness. Muni-Muni Stories is a podcast co-produced by Filipinas Heritage Library (FHL) and Podcast Network Asia. Its second season on Jan. 3, 2022. In this new season, many heavyweights in the film and music industries talk about official soundtracks (OSTs) in Pinoy movies we love. Also in the line-up this season are Glaiza De Castro, Antoinette Jadaone, Armi Millare, JP Habac, and more guests.

The Gilded Age premieres today

FROM Downton Abbey creator Julian Fellowes, HBO’s The Gilded Age debuts same time as the US today, Jan. 25, at 10 a.m. exclusively on HBO GO and HBO, with a same day encore at 10 p.m. on HBO. Written by Julian Fellowes and Sonja Warfield and directed by Michael Engler and Salli Richardson-Whitfield, the nine-episode drama series stars an ensemble cast of Cynthia Nixon and Christine Baranski, Carrie Coon, Morgan Spector, Denée Benton, Louisa Jacobson, Taissa Farmiga, Blake Ritson, Simon Jones, Harry Richardson, Thomas Cocquerel, and Jack Gilpin. The American Gilded Age was a period of immense economic change, of great conflict between the old ways and brand-new systems, and of huge fortunes made and lost. Against the backdrop of this transformation, The Gilded Age begins in 1882 with young Marian Brook (Jacobson) moving from rural Pennsylvania to New York City after the death of her father to live with her thoroughly old money aunts Agnes van Rhijn (Baranski) and Ada Brook (Nixon). Accompanied by Peggy Scott (Benton), an aspiring writer seeking a fresh start, Marian inadvertently becomes enmeshed in a social war between one of her aunts, a scion of the old money set, and her stupendously rich neighbors, a ruthless railroad tycoon and his ambitious wife, George (Spector) and Bertha Russell (Coon). New episodes will air every Tuesday.

Cha Eun Woo in Hallyu Hangouts session

SMART Hallyu Hangouts, in partnership with Viu, will allow Smart customers to spend time with South Korean star Cha Eun-Woo. The session will stream live on Jan. 29, 4 p.m., with a replay at 8 p.m. on the same day. Mr. Cha is known for his roles in K-Dramas like My ID is Gangnam Beauty, True Beauty, and variety shows such as All the Butlers and Handsome Tigers, which are all available on Viu. Smart launched the Hallyu Hangouts series last year to bring top South Korean stars like Hyun Bin, Son Ye-Jin, and Park Seo Jun closer to Filipino K-drama fans and Smart subscribers. For more information on how to watch Smart Hallyu Hangouts with Cha Eun-Woo, visit https://smart.com.ph/Pages/hallyu-hangouts and follow to follow Smart’s official accounts on Facebook, Twitter, and Instagram for updates.

Crystal Paras releases new single

ACTRESS and singer Crystal Paras celebrates the beauty of waiting in her latest single under GMA Playlist “Hintay,” out on various digital platforms worldwide. “This is a very sweet love song. It reminds me of the early parts of a relationship, very vulnerable ang lyrics. Coming from a woman’s perspective, if I heard it, ise-send ko siya sa crush ko or sa taong gusto ko (I will send it to my crush or the person I like),” Ms. Paras said in a statement. Produced and released by GMA Playlist, “Hintay” was written by Rina Mercado. Ms. Paras was part of StarStruck Season 7 in 2019. Since then, she has appeared in the series Boys Lockdown, Love of My Life, and The Lost Recipe, and will appear in the live action adaptation of the hit animé series Voltes V Legacy. “Hintay” is available to stream on Spotify, YouTube Music, iTunes, and other digital platforms worldwide.

liesl-mae releases new single

AFTER releasing a cover of Ben&Ben’s anthemic rock single “Lunod,” singer-songwriter liesl-mae has released an original song entitled “Headspace.” With two previously released singles under her belt, “Headspace” marks her official debut as a pop singer-songwriter. The single is one of the first original songs that the Kuala Lumpur-based artist has written, noting that she penned “Headspace” in the beginning of 2020 when she found herself weighed down and overwhelmed. An advocate for mental health, liesl-mae is determined to openly address and discuss mental health in her music in the hopes of inspiring others, as well as to foster understanding around the subject matter. She is one of the three new artists of OFFMUTE, Sony Music Entertainment’s new Southeast Asian label. “Headspace” is available to stream on all digital music platforms worldwide.

Maris Racal releases new single

MARIS Racal is back with the single, “Pumila Ka,” featuring up-and-coming singer-songwriter and rapper, Raven. The song is an empowering tune that emphasizes how people need to be more aware and considerate of those around them. “I wanted to write a really relatable song and I was thinking of everyday expressions that I could build a song around,” Ms. Racal said in a statement. “The inspiration for this song is the Filipino expression “pumila ka” (get in line) usually endearingly delivered among friends when competing for a crush. I asked Rico Blanco for a dance beat, and so he quickly did a dancehall beat and within seconds, I was singing the chorus.” The song was written by Maris and raven, with production by Rico Blanco. “Pumila Ka” is available to stream on all digital music platforms worldwide.

New Pokémon Legends video out

THE POKÉMON Company has released a Pokémon Legends: Arceus Hisui 360° View video. The video features the setting for the Pokémon Legends: Arceus, Jade Region in 360-degree view. In the Hisui 360° View video, The Pokémon Company has recreated a realistic feeling where the viewer can “immerse” in the rich nature and vast land of the Hisui Region, the stage of the adventure. In the video, the user can encounter Pokémon by clicking or tapping on the screen. They can also “ride” a Pokémon around the Hisui region with three Pokémon. Pokémon Legends: Arceus will be released on Jan. 28 for Nintendo Switch. Preorder is available.

House approves bills on cooperative banks, LANDBANK charter

January 25, 2022 | 12:01 am

THE House of Representatives approved two bills related to financial institutions on third and final reading on Monday as it resumed its plenary sessions.

House Bill (HB) 9541 or the Cooperative Banking Act was approved after receiving 156 affirmative votes and no negative votes.

The measure aims to regulate the activities of these banks and encourage the private sector to form cooperatives.

A committee report on the bill was submitted by the Committee on Ways and Means and the Committee on Banks and Financial Intermediaries on May 31, 2021.

Meanwhile, HB 10581 or the measure providing a charter for Land Bank of the Philippines was approved on third reading with 160 affirmative votes and 0 negative votes.