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Alsons maps hydropower expansion, eyes 7 projects

ALSONS Consolidated Resources, Inc. is in the process of completing the development phase of two new hydropower plant projects, the company said on Thursday, as it stepped up its entry into renewable energy with an expected capacity of 78.5 megawatts (MW).

The Mindanao power generator will be adding seven more run-of-river hydroelectric power plants to its portfolio after announcing its initial venture into renewables via the 14.5-MW Siguil hydro power plant in Sarangani province.

The next two hydropower plants in Zamboanga del Norte and Negros Occidental “are now in the process of completing the development phase as we expect to be able to update you on their status towards the end of this year,” Alsons Executive Vice-President Tirso G. Santillan, Jr. said at the listed company’s annual stockholders meeting.

The Siayan (Sindangan) hydro power plant in Zamboanga del Norte will have a capacity of 22 MW, while the Bago hydro plant in in Negros Occidental will have 42 MW.

Alson’s 105-MW San Ramon Power, Inc. coal-fired power plant in Zamboanga City will start operations in 2024.

“We intend to use both internally-generated funds as well as tapping into the capital markets to fund our various projects,” Alsons Vice-President and Group Chief Finance Officer Alexander Benhur M. Simon said.

Alsons in January announced that it earmarked P6.54 billion in capital expenditures for four projects, including its first three hydroelectric power plants.

The P4.5-billion Siguil run-of-river hydroelectric power plant, which is under construction at the Siguil River in Maasin, is set to start commercial operations next year.

The company’s net income attributable to the parent more than doubled to P325 million in 2020 compared to a year earlier, which it attributed largely on its 210-MW Sarangani Energy Corp. baseload thermal plant in Maasim, Sarangani.

Its Azuela Cove township in Davao City, developed in partnership with Ayala Land, Inc., also contributed.

At present, Alsons has a portfolio of four power plants in Mindanao with a total capacity of 468 MW. The facilities serve more than 8 million people in 14 cities and 11 provinces in the island, it said.

“The company foresees stable energy demand in Mindanao for the rest of 2021,” it said in a statement.

Shares in Alsons closed unchanged at P1.33 each on Thursday. — Jenina P. Ibañez

Harry Potter quiz shows for fans to mark 20th anniversary

Emma Watson, Daniel Radcliff, Rupert Grint and Alfred Enoch in a scene in Harry Potter and the Sorcerer’s Stone (2001) — IMDB.COM

LOS ANGELES — Know your Gryffindors from your Dementors? Who was the Half-Blood Prince and what can you buy at Ollivanders? Fans of Harry Potter can test their knowledge of the books and films in a new TV quiz competition series being launched by WarnerMedia to air later this year as part of 20th anniversary celebrations of the first film in the adventures of the boy wizard. WarnerMedia said on Wednesday that casting was open for fans who want to take part in the four, one-hour quiz challenges. The quiz shows will be part of a five-night retrospective special featuring surprise guests that will also include what WarnerMedia called a “play-along” component in which Potter fans can take part by dressing up at home. The specials will be televised on HBO MAX, Cartoon Network and TBS later this year. Harry Potter and the Sorcerer’s Stone, the first movie adaptation of J.K. Rowling’s best-selling series, was released in Nov. 2001. The eight Harry Potter movies became one of the world’s biggest movie franchises, taking in some $7.7 billion at the global box office. — Reuters

DoLE backs jobless insurance scheme

PHILSTAR

THE Department of Labor and Employment (DoLE) said it supports a bill creating an unemployment insurance program for displaced workers.

At a House hearing Wednesday, Labor Undersecretary Ana C. Dione said the department supports the unnumbered substitute bill that will establish a National Unemployment Insurance Program. However, she added that requirements for workers to qualify for unemployment insurance should be less stringent.

“We support the bill but we have a suggestion on eligibility to reduce the requirements,” she said, adding that retrenched persons need to more easily avail of the benefits.

Ms. Dione said the current bill requires workers to undergo job counselling provided by the program or its accredited partners in order to be eligible for unemployment benefits.

Marikina City Rep. Stella Luz A. Quimbo, author of the bill, said: “I agree 100% maybe it is onerous (what the employee) has undergone.” She added that applicants might instead provide proof that they have started job counselling or produce a certificate stating that they are willing to undergo counselling.

The House Subcommittee on Employment on Wednesday approved the substitute bill, subject to style and amendments. It will next face the subcommittee’s mother panel, the House Committee on Labor and Employment.

The proposed unemployment insurance program aims to provide lost-income protection for workers involuntarily separated from employment. The bill also proposes to create the Philippine Job Insurance Corp. , which will oversee the viability and implementation of the program. — Gillian M. Cortez

AboitizPower plans second solar farm with 74-MW capacity

ABOITIZ POWER Corp. is developing a 74-megawatt (MW) solar power plant in Pangasinan province, it said on Thursday, marking its second project using the renewable energy (RE) technology.

In a statement, the listed company said the solar project had received board approval and is now in the development stage.

The solar farm will be built at Cayanga in the town of Bugallon, Pangasinan. It will be the company’s second solar power venture following the 59-MW peak solar facility in San Carlos, Negros Occidental.

“This will give contestable customers another option to go green, in line with AboitizPower’s commitment to being an effective partner for progress and driving change for the people today as well as for generations to come,” the company said.

AboitizPower President and Chief Executive Officer Emmanuel V. Rubio expects the project’s construction to start in the second half. It is targeted to start commercial operations by the fourth quarter of 2022.

“We are very excited about this because this is another step towards achieving our 10-year strategy with regard to significantly increasing our RE capacity and aiming for a 50:50 balance between our Cleanergy and thermal portfolios,” Mr. Rubio said in the statement.

“Majority of the solar facility’s capacity will be contracted for retail electricity supply, which we hope can help bring more sustainable energy to homes and businesses in the country,” he added.

Meanwhile, Pangasinan Governor Amado I. Espino III expressed his support for the company’s solar power venture in the province.

“Aboitiz has our full support. We are glad that they have chosen our province and the town of Bugallon as the site for this venture, which will definitely empower our mission of making Pangasinan number one,” Mr. Espino said.

In the first quarter of the year, AboitizPower posted a 197% increase in consolidated net income to P6.2 billion on the back of higher water inflows, improved availability of thermal facilities, and better spot sales.

On Thursday, shares of AboitizPower at the stock exchange fell 2.26% or 50 centavos to close at P21.60 apiece. — Revin Mikhael D. Ochave

Non-binary Demi Lovato blames drug overdose on ‘ignoring my truth’

Demi Lovato — EN.WIKIPEDIA.ORG

DEMI Lovato now identifies as non-binary, and attributed their 2018 drugs overdose to years of suppressing their real self in order to please the entertainment industry, the American pop singer said on Wednesday. Ms. Lovato, 28, said on Twitter that the decision to use the pronouns they/them had come after “a lot of healing and self-reflective work.” The “Sorry Not Sorry” singer, a former Disney Channel child star, spoke about their decision in a new podcast, 4D with Demi Lovato, that was launched on Wednesday. “In 2018 when I overdosed, I feel like the reason why that happened was because I was ignoring my truth, and I was suppressing who I really am in order to please stylists, or team members, or this or that, or even fans that wanted me to be the sexy, feminine pop star in the, in the leotard and look a certain way, you know?,” Ms. Lovato said. “I thought that was what I was supposed to be and now I just realize that it’s so much more important to live your truth than to ever suppress yourself because that’s the type of stuff that happens when you do,” they added. Lovato’s podcast follows a tell-all documentary earlier this year in which the singer spoke in detail about their long addiction to drugs and other mental health issues. — Reuters

SEC moves submission deadline for annual, quarterly reports to June 1

THE Securities and Exchange Commission (SEC) has once again extended the deadline for the submission of annual reports for the fiscal year ended December 31, 2020 and quarterly reports for the period ended March 31 after the Bureau of Internal Revenue (BIR) adjusted its own submission deadline.

In a notice to all publicly listed companies, issuers of registered securities, and other corporations, the commission said it has set June 1 as the new submission deadline for annual and quarterly reports.

“In light of the advisory issued by the BIR and the commission’s recognition of the challenges in the preparation and finalization of the AFS, the commission en banc, in its meeting held on May 18, 2021, resolved to further extend the deadline for the submission of annual reports for the calendar year ended December 31, 2020 to June 1, 2021 from May 17, 2021,” the SEC said.

The BIR told concerned taxpayers in an advisory that the submission of required attachments, which include annual financial statements (AFS), to the electronically filed amended annual income tax return should be submitted on or before May 30.

The deadline for the submission of quarterly reports for the period ended March 31 was also extended to June 1 because the statement of financial position as of the calendar year ended December 31, 2020 is required to be presented in the interim financial statements.

The SEC previously extended the deadline of annual reports by a month to May 17 from April 15, noting that it “was subject to an automatic adjustment to conform to any subsequent [BIR] announcement” relating to the BIR’s own deadline for AFS submissions. — Keren Concepcion G. Valmonte

Workers departing for Israel asked to delay departures amid Gaza violence

REUTERS FILE PHOTO

LABOR Secretary Silvestre H. Bello III said worker departures for Israel will be suspended following continuing violence between Israeli forces and militants in the Gaza strip.

In a statement Thursday, Mr. Bello said, “The processing of those who already qualified continues. We are merely suspending their actual departure while the tensions are still high.”

The Department of Labor and Employment (DoLE) had said earlier that deployment of workers, especially caregivers and healthcare workers, to Israel will continue for work sites that are deemed safe.

Mr. Bello called on caregivers and healthcare workers set to work in Israel to delay their flights. He added, “It will just be a few days of delay. We just want to be sure they will be safe.”

He said deployments to Israel are not yet banned outright.

Almost 30,000 overseas Filipino workers reside in Israel, with DoLE estimating that around 300 live in areas subject to Palestinian rocket attack. — Gillian M. Cortez

Cyprus Eurovision entry makes some see red

EUROVISION.TV

NICOSIA — It may have won audiences in Europe, but Cyprus’s entry for the Eurovision song contest has raised hackles at home, scandalizing the faithful for paying homage to the devil. “El Diablo” (The Devil), a dance mix performed by Greek singer Elena Tsagrinou, sailed through the first semi final of the contest held in Rotterdam on Tuesday night, securing a place in the May 22 finals. A small group of people with a powerful loudspeaker system blaring Orthodox hymns protested peacefully outside Cyprus’s state broadcaster on Wednesday, saying the song promoted devil worship. Cyprus’s influential Orthodox Church had waded into the fray when the song was unveiled in February, calling for the tune to be withdrawn. Thousands signed an online petition to that effect. The Cyprus Broadcasting Corp. says the song is about the battle between good and evil. “El Diablo” is not the only entry to the annual contest with a nod to Satan. Norway has its song “Fallen Angel” by the performer TIX, in chains and wearing white wings. The Netherlands is hosting the 65th edition of the event, which draws a television audience of about 200 million. —  Reuters

Nestlé, TESDA sign deal to train Mindanao Robusta coffee farmers

NESTLÉ PHILIPPINES, Inc. and the Technical Education and Skills Development Authority (TESDA) have entered into a partnership to train agricultural workers in sustainable coffee farming in the southern Philippines, with the aim of increasing the domestic supply of coffee beans.

On Wednesday, Nestlé and TESDA signed a memorandum of agreement for an initiative called the Coffee Production Level II Program and Scholarship, a 176-hour certification course offered to coffee farmers in Bukidnon and Sultan Kudarat, which produce 80% of the country›s Robusta beans. The program also hopes to aid indigenous people (IP).

During the signing on Wednesday, Nestlé Philippines CEO Kais Marzouki said: “We are grateful to be working with TESDA to promote entrepreneurship in the agriculture sector and enhance the competencies of the farmers.”

The program also aims to boost the supply of Robusta coffee which had been declining for years before a recent improvement.

“We will enable the farmers and our IP coffee growers to produce quality beans that are at par with the standards of Nestlé Philippines. We will also be able to help them increase their yields and pursue a more sustainable livelihood. This partnership will scale the impact of the work we do in TESDA for the farmers and IPs,” TESDA Director-General Isidro S. Lapeña said in a statement Wednesday.

TESDA Deputy Director General Lina C. Sarmiento said the program will accommodate an initial 400 scholars at a cost of P5.1 million. She added coffee agronomists, technicians, and others will be trained as trainers for the program.

“TESDA has allocated 200 training slots for farmer beneficiaries at the Bukidnon Integrated Coffee Center… In Sultan Kudarat, 200 farmer scholars from five key coffee communities in the municipalities of Esperanza and Kalamansig will also be trained in Coffee Production Level II,” she said. — Gillian M. Cortez

E-commerce firm Great Deals raises P1.4 billion

GREAT Deals E-Commerce Corp. announced on Wednesday that it raised $30 million (P1.4 billion) in its Series B funding round led by logistics firm Fast Group.

The Philippine-based e-commerce company will deploy this growth capital in technology development and the construction of an automated fulfillment center, Great Deals said in an e-mailed statement.

“Both [are] critical to meet the growing demand in e-commerce and to level-up the game in customer experience,” it added.

Aside from Fast Group that is supported by private equity and investment advisory firm CVC Capital Partners, Navegar, which is also a private equity firm that invested $12 million in Great Deals in the Series A round, also contributed to the latest funding round.

Great Deals Founder and Chief Executive Officer Steve Sy said, “With this funding and strategic support from our new investors, this opens new opportunities to drive forward Instant Commerce — delivery under one hour, wherever you are.”

“We can reach and serve more Filipinos faster and safer. That is the Next Big Thing that can boost further the digital economy in our country,” he added.

Part of the capital raised in this latest round will be deployed to construct a fulfillment center. “It will seat on a 10-hectare property, of which 70,000 square meters will be built into an e-fulfillment center around the Bulacan area. This will bring 5,000 new jobs than can fulfill one million orders a day,” Mr. Sy said.

The corporation works with the likes of both GrabMart and Food Panda to provide instant commerce, which promises delivery within one hour.

For his part, Fast Group President and Chief Executive Officer William B. Chiongbian II said his company sees “a lot of synergies” with the e-commerce company in building capability.

“This partnership also marks Fast’s first M&A transaction since CVC’s investment less than 6 months ago,” said Brice Cu, managing director at CVC.

Great Deals was established in 2014. It offers end-to-end business solutions ranging from digital marketing, content creation, storefront management, web design, business analytics and customer service to warehousing and peak-scaling fulfillment.

Great Deals caters to both local and multinational brands. — Arjay L. Balinbin

Stuff to Do (05/21/21)

Ayala Museum holds interactive virtual tour

IN CELEBRATION of International Museum Day, Ayala Museum will present “Where is the Filipino: An Interactive 8-Bit Tour Around the Philippines” on May 22 to 30. This unique experience, in partnership with Globe, takes viewers through multiple stops around the archipelago, encountering indigenous and ethnographic artifacts from the Ayala Museum collection along the way. This free virtual tour of the Ayala Museum collection provides an opportunity to situate these objects in their places of origin, familiarizing the public with the various ethnolinguistic groups represented in the collection and their material culture. The tour will be held on Gather.Town, an online social platform that allows visitors to interact with each other, control an avatar, and explore a 2D map — an experience reminiscent of playing classic 8-bit games during the 1990s. Register at www.ayalamuseum.org/IMD2021 or http://bit.ly/IMD2021Reg. The platform can accommodate 25 users at a time. For more information and instructions, visit www.ayalamuseum.org/IMD2021 or contact Ayala Museum through any of their social media platforms.

Children’s classic films on KTX.ph

ABS-CBN Film Restoration presents digitally restored classic children’s films which will be streamed at the Sagip Pelikula Festival on KTX.ph. The restored films are Ang Pulubi at ang Prinsesa, Kokey, Magic Temple, Cedie, Hiling, Sarah… ang Munting Prinsesa, and Ang TV Movie: The Adarna Adventure. The films are available to stream until June 12. Tickets are priced at P100 and P150. For more details on its upcoming film showings, follow ABS-CBN Film Restoration on Facebook at facebook.com/filmrestorationabscbn.

Eurovision Song Contest 2021: Open Up

AFTER its cancellation due to the COVID-19 outbreak last year, the Eurovision Song Contest 2021 will be held at the Ahoy Rottendam in the Netherlands. The Grand Finals will be held on May 22, with 25 finalists out of 39 participating countries. Chantal Janzen, Jan Smit, Edsilia Rombley and Nikkie de Jager (NikkieTutorials) will return as program presenters. The grand finals will be livestreamed on YouTube at https://www.youtube.com/user/eurovision.

Content creators hold meeting

THE CREATOR and Influencer Council of the Philippines (CICP) mounts its virtual General Membership Meeting (GMM) on May 25, 6 p.m., via CICP’s Facebook LIVE. Among the topics to be covered in CICP’s May GMM will be the journey of Philippine actors Bea Alonzo, Dimples Romana, and Enchong Dee as content creators, and the so-called Great Divide between celebrities and content creators or influencers. There will be a keynote speech by Luis Buenaventura on Non-Fungible Tokens or NFT. Joining the event as Fireside Chat Moderator will be TV host and actor Robi Domingo, while content creator Kimpoy Feliciano will be the host. Also making an appearance will be CICP President Jim Guzman and CICP Director for Ethics & Governance JJ Disini. The meeting is free and open to the public.

Alliance Global posts 13% income drop with pandemic restrictions

TAN-LED Alliance Global Group, Inc. (AGI) finished the first quarter with P2.6 billion in net income to owners, a 13% decline from P3 billion in the same period last year after renewed pandemic restrictions hit its businesses.

“During the first two months of the year, most of our businesses have already rebounded, sustaining the momentum achieved during the holiday season,” Kevin Andrew L. Tan, chief executive officer of AGI, said in a statement on Thursday.

“However, the momentum has been halted temporarily due to new restrictions imposed as a result of surges in new cases at the end of March,” Mr. Tan added.

The listed conglomerate said its net profit slid 20% to P3.2 billion from last year’s P4 billion, while consolidated revenues decreased by 16% to P31.8 billion from P38 billion.

“Thankfully, our international liquor operations continued to deliver strong results, supported by the reopening of the various economies across the globe and the improving traction of its brands in the international market,” Mr. Tan said.

Spirits manufacturer Emperador, Inc.’s net attributable profit soared by 43% to P2.1 billion in the first quarter from P1.46 billion in the same period last year. Its topline climbed 13% to P12.1 billion, which is “among its best performance to-date” driven by global sales.

“Note that Emperador’s diversified whisky and brandy portfolio continues to gain strong international presence — particularly in the Americas, United Kingdom and the rest of Europe, as well as Asia, particularly in China,” Alliance Global said.

Meanwhile, the net attributable profit of property firm Megaworld Corp. declined by 33% to P2.36 billion from P3.51 billion year on year. Without disclosing comparative figures, the company said it is a four percent improvement compared with the previous quarter.

Megaworld’s topline also fell by 33% to P10.11 million from P15.08 million. Real estate sales amounted to P5.9 billion amid higher project completion, reservation sales totaled P20.7 billion, and it finished the quarter with P3.1 billion in rental income.

Resorts World Manila owner and operator Travellers International Hotel Group, Inc. incurred a P1.1-billion net loss during the period, inching up last year’s P1-billion loss. Gross revenues went down by 24% to P5.2 billion year on year, but AGI noted that it is 13% higher from the previous quarter.

The gaming segment of Travellers International generated P4.6 billion in gross revenues for the three-month period, while non-gaming revenues amounted to P633 million. Meanwhile, its hotel operations saw improved occupancy rates to 65%.

The net attributable income of McDonald’s Philippines operator Golden Arches Development Corp. (GADC) declined by 32% in the first quarter to P73 million from P108 million a year ago. The company said without disclosing figures that its EBITDA (earnings before income, taxes, depreciation, and amortization) improved by 30% year on year.

GADC is a long-term partnership between AGI and the George Yang Group, holding the exclusive franchise to operate McDonald’s stores in the Philippines.

It closed the quarter with 655 stores under its belt, down from 669 stores a year ago after closing down 30 branches last year due to expired leases and concerns surrounding financial sustainability. This was offset by the launch of 16 new stores despite the pandemic.

Alliance Global said the pandemic taught the group “to be relentlessly creative and innovative in executing and modifying some of [their] strategies” for recovery.

“We are very optimistic for the next three quarters as we look forward to an accelerated vaccine rollout that would allow business activities to pick up,” Mr. Tan said.

Alliance Global Group saw its stocks drop by 0.38% at the local bourse on Thursday, closing at P10.40 apiece from P10.44. — Keren Concepcion G. Valmonte

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