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Pinoy artists dominate Spotify’s top charts in PHL

Ben&Ben

Ben&Ben was Spotify’s most streamed local artist in the Philippines according to the music streaming service’s yearend wrap-up.

Spotify released the lists of the top artists, albums, songs, playlists, and podcasts “that defined how more than 381 million people around the world listened and discovered audio in 2021,” the company said in a release on Dec. 2.

“Spotify 2021 Wrapped celebrates the millions of quirky and wonderful ways to listen, as well as look back at how audio helped listeners discover new favorites — while creators soundtracked the world around us,” says the statement.

The Spotify Wrapped report shows that Filipinos are listening to local artists, music, and podcasts, as well as musicians with Filipino roots.

For the second year in a row, Ben&Ben was the Philippines’ Top Streamed Local Artist, followed by Moira Dela Torre, Skusta Clee, Zack Tabudlo, and rising star, Arthur Nery in the top five.

Mr. Nery’s Letters Never Sent is the Top Local Album in the country, followed by Eraserheads’ Anthology, a compilation of the band’s greatest hits.

The Most Streamed Song in the country in 2021, according to the report, is Mr. Tabudlo’s “Binibini.” Global artists with Filipino roots took two of the top five spots: Olivia Rodrigo’s “drivers license” (No. 3) and Bruno Mars’ “Leave the Door Open” (No. 5). Rounding out the top five are K-Pop group BTS’ “Butter” (No, 2) and Pink Sweat$’s “At My Worst” (No. 4).

The top two Most Repeated Local Songs in the country were love songs by the same artist: Mr. Tabudlo’s “Binibini” and “Nangangamba.” Pinoy Hip-Hop  rounded out the top five in the category PDL, Flow G, Skusta Clee, and Yuridope’s “Pauwi Nako,” and Skusta Clee’s “Dance With You” and “Lagi.”

Spotify’s EQUAL program, a global initiative to foster gender equity in music, shines a light on local female artists. Jana Garcia’s “Di Biro” was the Top Streamed Song for EQUAL Philippines’ playlist, followed by Yeng Constantino’s “Ako Muna” and Nadine Lustre’s “Wildest Dreams.”

Aside from OPM, K-Pop is also popular in the Philippines. BTS was the Top Streamed K-Pop Artist in the country, followed by TWICE, BLACKPINK, IU, and SEVENTEEN.

When it comes to the spoken word, Filipino creators were also popular here, filing the slots in the Top Five Most Popular Podcasts in the Philippines. Wellness podcasts skypodcast and Sleeping Pill with Inka took the top two spots, followed by advice-type conversations Dear MOR: The Podcast, Boiling Water PH, and SUPERHUMAN with Will Dasovich.

PERSONALIZED WRAPPED FEATURES

Spotify has released new personalized Wrapped features to remind listeners how their aural year went. These include 2021: The Movie, a video montage of the listeners’ top played songs paired with iconic scenes from cinema to make a movie abut the listener; Your Audio Aura, a mashup the listener’s mood, tempo, liveliness, and artist/album art; Playing Cards, an interactive data-based game of truth and lie about the listener’s audio habits that they can play with a friend; Wrapped 2021: Blend, which taps the new Blend feature launched this year, to see how the listerner’s music taste matches up with friends.

Spotify’s users will be able to access and share their personalized Listener Wrapped experiences with features, which provides a deep dive into the music and podcasts that defined their year.

Spotify 2021 Wrapped Philippine Top Lists

Philippines’ Most Streamed Artists:

  1. BTS
  2. Taylor Swift
  3. Justin Bieber
  4. Ben&Ben
  5. Ariana Grande

Philippines’ Most Streamed OPM Artists

  1. Ben&Ben
  2. Moira Dela Torre
  3. Skusta Clee
  4. Zack Tabudlo
  5. Arthur Nery

Philippines’ Most Streamed Albums

  1. SOUR, Olivia Rodrigo
  2. Justice, Justin Bieber
  3. Fearless (Taylor’s version), Taylor Swift
  4. BE, BTS
  5. =, Ed Sheeran

Philippines’ Most Streamed Local Albums

  1. Letters Never Sent, Arthur Nery
  2. Anthology, Eraserheads
  3. Patawad, Moira Dela Torre
  4. LIMASAWA STREET, Ben&Ben
  5. Malaya, Moira Dela Torre

Philippines’ Most Streamed Songs

  1. “Binibini,” Zack Tabudlo
  2. “Butter,” BTS
  3. “drivers license,” Olivia Rodrigo
  4. “At My Worst,” Pink Sweat$
  5. “Leave the Door Open,” Bruno Mars

Philippines’ Most Streamed Local Songs

  1. “Binibini,” Zack Tabudlo
  2. “Nangangamba,” Zack Tabudlo
  3. “Paraluman,” Adie
  4. “Dance With You,” Skusta Clee and Yuri Dope
  5. “Ikaw Lang,” NOBITA

Philippines’ Most Popular Spotify Playlists

  1. Hot Hits Philippines
  2. Today’s Top Hits
  3. OPM Favorites
  4. Acoustic Favorites
  5. Kalye Hip Hop

Philippines’ Most Popular Podcasts

  1. skypodcast
  2. Sleeping Pill with Inka
  3. Dear MOR: The Podcast
  4. Boiling Waters PH
  5. SUPERHUMAN with Will Dasovich

Spotify 2021 Wrapped Global Top Lists:

Top Global Artists

  1. Bad Bunny
  2. Taylor Swift
  3. BTS
  4. Drake
  5. Justin Bieber

Top Global Streamed Albums

  1. SOUR, Olivia Rodrigo
  2. Future Nostalgia, Dua Lipa
  3. Justice, Justin Bieber
  4. =, Ed Sheeran
  5. Planet HER, Doja Cat

Top Global Streamed Songs

  1. “drivers license,” Olivia Rodrigo
  2. “MONTERO (Call Me By Your Name),” Lil Nas X
  3. “STAY (with Justin Bieber),” The Kid LAROI
  4. “good 4 u,” Olivia Rodrigo
  5. “Levitating (feat. DaBaby),” Dua Lipa

Top Global Podcasts

  1. The Joe Rogan Experience
  2. Call Her Daddy
  3. Crime Junkie
  4. TED Talks Daily
  5. The Daily

Most Popular Podcast Genres Globally

  1. Comedy
  2. Society & Culture
  3. Education
  4. Health & Fitness
  5. Music

Converge claims nationwide pure fiber connectivity

CONVERGE ICT SOLUTIONS INC./YOUTUBE

CONVERGE ICT Solutions, Inc. on Thursday said its fiber internet service now covers the whole nation, with 5.5 million ports deployed.

The company has opened 23 business centers nationwide as of end-November.

“We’ve achieved a record rollout of 654,188 ports in the third quarter of 2021 alone, a solid testament to the robust demand we continue to see throughout the country,” Converge Chief Executive Officer Dennis Anthony H. Uy said in an e-mailed statement.

By 2023, the company hopes to cover 55% of Philippine households with its fiber internet service.

It targets to reach more unserved and underserved areas of the country.

The company said it recently opened new business centers in Laoag City, Ilocos Norte; Candon, Ilocos Sur; La Trinidad, Benguet; Tuguegarao, Cagayan; and Bayombong, Nueva Vizcaya in Northern Luzon.

It also opened branches in Gapan, Nueva Ecija in Central Luzon; Valenzuela and San Juan City in Metro Manila; Batangas City and Lemery, Batangas; and Imus and Dasmarinas, Cavite in Southern Luzon; Sorsogon in the Bicol Re-gion; Iloilo City in the Visayas; and Cagayan de Oro and Davao City in Mindanao.

The company said it now serves 440 municipalities and cities. It has around 1.6 million residential subscribers as of September.

“Converge just this November completed its domestic subsea cable project connecting all the major islands of the Philippines to its national fiber backbone,” it noted.

The company’s attributable net income for the January-to-September period went up by 137% to P5.20 billion from P2.19 billion in the same period in 2020.

Revenues for the period increased by 76% to P18.83 billion from P10.68 billion last year.

Mr. Uy has said that Converge is looking at potential new partnerships to serve its clients in areas other than broadband internet, such as fintech, e-games, and content, among others.

Converge ICT shares closed 0.65% lower at P30.80 apiece on Thursday. — Arjay L. Balinbin

Sorcery the focus of Folklore’s Pinoy episode

A SCENE from HBO Asia’s series Folklore

A SMALL town, a mysterious illness, a worried policewoman, and a sorcerer are the ingredients that make up the Philippine episode of the second season of HBO Asia’s series, Folklore.

Folklore is a horror anthology series created by Singaporean director Eric Khoo which premiered in 2018. Each season consists of six episodes featuring stories based on Asian superstitions and national folklore and myths, with each episode helmed by a director from the specific Asian country.

The Philippine episode, “7 Days of Hell,” directed by Erik Matti, is the fourth show of the second season which premiered on Nov. 14.

Known for his work in the horror and suspense genre, Mr. Matti has directed crime thrillers like Honor Thy Father (2015) and BuyBust (2018), and horror stories including Pa-Siyam (2004), Kuwaresma/The Entity (2019), and Seklusyon (2016).

Written by Michiko Yamamoto, the episode follows Lourdes (played by Dolly De Leon), a righteous policewoman and mother who tries to save her son Eugene (Roshson Barman) from an unknown illness. When Eugene is given only a few weeks to live, Lourdes discovers that her son’s illness is caused by a powerful sorcerer’s curse. For Eugene to survive, he has to make amends with the sorcerer. Desperate to save her son, Lourdes, alongside Jong (Mon Confiado), goes to find out what he had done.

“In the episode, [the characters] confronted with something they couldn’t explain. And as policemen, they rely mostly on evidence or proof, on nothing ambiguous. But then they end up thinking [that] maybe this is the work of the supernatural,” Mr. Matti said during an online press conference on Nov. 23.

“For people who believe in logic, I think that’s interesting to watch in a story that slowly they try to veer towards illogical stuff, veer towards gut instinct, and intuition rather than provable evidence,” he added.

The episode also focuses on the theme of family. “It’s very important to know our children,” Mr. Confiado said.

In rural communities in the country, the belief in the powers of an albularyo (folk healer), and sorcerers called mangkukulam or mambabarang is still evident today. Folk healers connect with nature and the supernatural to heal ordinary illnesses and paranormal inflictions, while the sorcerers use their powers to cause harm.

Ms. De Leon said that sometimes fear stems from the unknown in people rather than in the supernatural.

“Some spirits are powerful, but the problem with people is you really can’t control them or their presence in your lives,” Ms. De Leon said.

Mr. Matti noted that horror stories can reflect something societal.

“In in this episode, more than the mambabarang, we wanted to do a police crime story. Michiko and I love crime stories, especially police stories. And Lourdes and Jong represent the detectives that we always love in the film,” Mr. Matti said. “It starts out with a crime, and you will see how the kind of corruption in a small-town police station started it all.”

Folklore’s “7 Days of Hell” premieres on Dec. 5 on both HBO and HBO GO. To watch the episode on HBO GO, stream or download the second season of Folklore. The app can be found on the App Store or Play Store. HBO GO is also accessible via Cignal or at https://www.hbogoasia.com/. — Michelle Anne P. Soliman

MAP appoints Pascual president for 2022

THE Management Association of the Philippines (MAP) said Alfredo E. Pascual will serve as its president for 2022.

MAP said in a statement Thursday that Mr. Pascual will become the association’s 73rd president since its founding in 1950.

Mr. Pascual is currently the lead independent director at SM Investments Corp., Megawide Construction Corp., and Concepcion Industrial Corp.

“His board seats include nonprofits and other organizations, such as Institute of Corporate Directors, Institute for Solidarity in Asia, FINEX Academy, University of the Philippines (UP) Foundation, Philippine Council for Foreign Relations, and the US-Philippines Society,” MAP said.

Mr. Pascual is also former president of the Rotary Club of Makati, an honorary member of Philippine-American Association of Scientists and Engineers (PAASE), and president of the global association of former employees of the Asian Development Bank.

Between 2011 and 2017, Mr. Pascual was the president and co-chair of the UP System. Prior to becoming the UP President, he was the alumni regent on the UP Board and also served as a trustee at the International Rice Research Insti-tute and Philippine Institute for Development Studies.

Other MAP officers for 2022 were Donald Patrick L. Lim, chief operating officer of DITO CME Holdings, Inc., vice-president; Wilson P. Tan, chair and country managing partner of SGV & Co., treasurer; Romeo L. Bernardo, manag-ing director of Lazaro Bernardo Tiu & Associates, assistant treasurer; Marianne B. Hontiveros, managing director of CEO Advisors, Inc., secretary; and Alexander B. Cabrera, chair emeritus and environmental, social, and governance leader of Isla Lipana & Co. and PwC Philippines, assistant secretary.

Other MAP governors are Cielito F. Habito, chair of Brain Trust, Inc., Meliton B. Salazar, Jr., president of PHINMA Education Network; and Rogelio L. Singson, president and CEO of Metro Pacific Water. — Revin Mikhael D. Ochave

Polymer 1,000 bills to be circulated in mid-2022

THE BANGKO SENTRAL ng Pilipinas (BSP) will start its pilot circulation of polymer banknotes next year, beginning with limited P1,000 bills to be delivered by the Reserve Bank of Australia (RBA).

BSP Governor Benjamin E. Diokno said the central bank partnered with the RBA for the pilot testing. A subsidiary of Australia’s central bank will deliver the first set of P1,000 polymer bills in April 2022.

“The 1,000 [polymer] notes will begin circulating in mid-2022. We have reached an agreement with RBA and its wholly owned subsidiary, Note Printing Australia [Ltd.], for the production of the polymer banknotes,” Mr. Diokno said at an online briefing on Thursday.

The new banknotes will co-exist with bills already being circulated, he said.

BSP Deputy Governor Mamerto E. Tangonan said the BSP is authorized to issue 500 million pieces of P1,000 polymer bills from 2022 to 2025.

With the initial limited circulation, the BSP will look into the lifespan of these polymer bills to see if they last longer than paper banknotes, he said.

“They (polymer bills) do last anywhere from two and a half [years], some central banks even reported 4.8. [years],” Mr. Tangonan said at the same briefing.

“We want to see if under local Philippine conditions, if the banknotes would last at least as long [as what was seen by other central banks],” he added.

Mr. Diokno said there are about 57 countries that have used polymer for their banknotes as of March 2021, incuding Canada, Australia, New Zealand, Malaysia, Vietnam, Mexico, and Fiji.

“Based on our research, among the most cited strengths of polymer banknotes are their being relatively more hygienic, difficult to counterfeit, durable and cost-effective, and environmentally friendly,” the central bank chief said.

Mr. Tangonan said they will also see if it is cost-effective to increase its circulation of polymer bills.

“Although it (polymer bills) costs a little bit more to print one banknote, but if you’re going to print much less…then that would give you a very strong justification to polymerize all denominations,” Mr. Tangonan said.

The central bank’s move towards using polymer for banknotes is expected to impact the country’s abaca industry, as the fiber is used in making paper bills.

The BSP earlier said its limited testing could displace around 0.1% or 0.2% of total abaca exports, representing about 210 to 481 jobs.

The central bank has said it will coordinate with relevant government agencies and industry representatives to address concerns over the livelihood of abaca farmers that will be affected by the move. — L.W.T. Noble

First Gen unit signs nearly P3-B loan deals

FIRST Gen Corp. unit Prime Meridian Powergen Corp. (PMPC) has signed three-year loan facilities totaling P2.8 billion with the Bank of the Philippine Islands and ING Bank N.V.

“This is the first term loan of PMPC and it is reflective of the Avion power plant’s strong and stable cash flows since starting operations in 2016,” First Gen President and Chief Operating Officer Francis Giles B. Puno said in a dis-closure to the Philippine Stock Exchange on Thursday.

PMPC owns and operates the 97-megawatt (MW) Avion dual-fired open-cycle gas turbine power plant in Batangas City. Proceeds from the loans will be used for the firm’s general and corporate working capital requirements.

Mr. Puno added that First Gen’s gas platform now stands at 2,017 MW and that the company is “working hard to deliver the country’s first Interim Offshore LNG (liquefied natural gas) Terminal Project, as well as additional nat-ural gas-fired power plants.”

First Gen’s wholly owned subsidiary, FGEN LNG Corp., entered into a five-year contract with Norway-based BW Gas Ltd. in April to charter an LNG carrier for the Lopez-led company’s offshore gas terminal project in Batangas.

First Gen said earlier that the LNG project would introduce LNG to the country by the third quarter of 2022 to serve the natural gas requirements of existing and future gas-fired plants of FGEN LNG’s affiliates and third parties.

The Avion power plant is one of the five natural gas facilities that source their supply from the Malampaya gas field in Palawan, which, the Department of Energy said earlier, will have completely depleted reserves by 2027.

First Gen also owns the three other gas facilities receiving supply from Malampaya, namely: the 1,000-MW Santa Rita, 500-MW San Lorenzo, and the 420-MW San Gabriel gas power plants.

The fifth natural gas facility fed by the deepwater gas-to-power project is the 1,200-MW Ilijan natural gas plant operated by KEPCO Ilijan Corp.

Shares in First Gen at the stock exchange declined by 0.34% or 10 centavos to close at P28.90 apiece on Thursday. — Bianca Angelica D. Añago

Stuff to do (12/03/21)

FDCP screens silent films

AFTER a series of intensive film labs, the Film Development Council of the Philippines (FDCP) presents the results of the first Mit Out Sound: International Silent Film Labs and Competition, where young filmmakers created new silent short films inspired by old Filipino classics. These silent films are on view until Dec. 3 at the FDCP Channel website (www.fdcpchannel.ph). Log in (if an existing subscriber) or create an account for free (if not a subscriber yet). Click the ISFFM 2021 tab and look for MIT OUT SOUND (MOS) SHORT FILMS.

Latest chapter of Money Heist premieres

LA CASA de Papel (Money Heist) is one of the most popular non-English series on Netflix. Part 5 Vol. 2 of the series premieres on Dec. 3. At the end of the last five episodes, Tokyo is dead and the enemy still lurks in the Bank of Spain, wounded but as dangerous as ever. To make matters worse, the Professor makes the biggest mistake of his life.

Trunc Mystery Boxes auction

TO CELEBRATE the season of giving, multi-brand online boutique Trunc is auctioning Mystery Boxes filled with luxury and premium items until Dec. 8. All proceeds will go to #MentalHealthPH, a non-profit organization that promotes and protects mental health in the Philippines. The auction is open to all residents of the Philippines. To join the auction, create an account at Trunc.ph, go to Offers page, and click the Mystery Box banner. Or visit truncmysterybox.ph. Once on the page, details about the campaign and bidding mechanics will be seen. Under it is the auction section where one can choose from a selection of Mystery Boxes whose retail values range from P9,890 to P98,000. Upon choosing a box, an electronic bidding form will appear, which should be filled out to place the bid. The minimum bid values range from P5,000 up to P48,000, depending on the preferred Mystery Box. Once the form is filled out, the customer will receive an e-mail to confirm the bid. For real time updates, refresh the page and click on the View Current Bids. The highest bidders will win their chosen boxes and will be notified through e-mail and the mobile number registered in their bidding form. They may choose to settle the amount for their boxes via bank transfer or PayPal. Once settled, Trunc will deliver the Mystery Boxes to the winners’ registered addresses. Join Trunc’s auction and support #MentalHealthPH. Visit Trunc.ph for more information.

Netflix offers Noche Buena boxes

NETFLIX is offering a limited collection of Christmas baskets that each follows a film or TV series theme. The basket selections are: The Gganbu (Squid Game), The I Louvre (Emily in Paris), The Bentesingko (Trese), The Merry Christmas as a Friend (My Amanda), The Billi Ciao (Money Heist), and The Most Wanted (Red Notice). To order the Netflix Noche Buena baskets, visit https://netflixnochebuena.com until Dec. 6. A limit of 150 orders will be accepted per day, but only one basket will be allowed per mobile number and address. Deliveries will begin on Dec. 13.

Halal industry seen as driver of recovery

THE halal industry is viewed as holding the potential to serve as a driver of the economic recovery after the pandemic, according to the Department of Trade and Industry (DTI).

Trade Secretary Ramon M. Lopez said during the first day of the 4th Philippine National Halal Conference Thursday that opportunities for the industry should be maximized in light of the global growth in the market for goods that are compliant with Muslim dietary practices.

“As we traverse the challenging times brought about by the pandemic, the need to maximize the industry’s potential and take advantage of the opportunities being presented to us remain our utmost priority,” Mr. Lopez said.

“The global halal economy is poised to move towards growth and advancement with many notable developments in the Islamic economy — led by an acceleration in digital transformation, disruption in global supply chains, and increased government focus on food security-related investments,” he added.

Mr. Lopez said the global market for such products is underpinned by an increasing Muslim population and greater adherence to Islamic ethical values, which is carrying over into consumption.

“Islamic finance and halal food lead the promising growth of the global Islamic economy,” Mr. Lopez said.

Mr. Lopez said that the DTI continues to extend its support to halal micro, small, and medium enterprises (MSMEs) to guide their production and promotion of compliant commodities.

“With our halal MSMEs continuously working towards improving their trade, coupled with technology and a new mindset, we can create a halal industry that is pandemic-proof and pave the way for our participation in the glob-al halal ecosystem,” Mr. Lopez said.

Mr. Lopez said the DTI’s current halal certifying bodies are expanding the pool of exportable products.

“We need to be keen on the innovations and market requirements to allow the facilitation of inclusive, competitive and export-ready products to be certified as halal,” Mr. Lopez said.

“In the future we look forward to crafting a Philippine Halal Development plan which is guided by an overarching goal of creating a halal ecosystem that is organized, structured, and recognized in the global halal economy,” he added. — Revin Mikhael D. Ochave

UnionBank in talks to buy Citi’s local retail unit

UNIONBANK of the Philippines, Inc. on Thursday confirmed that it is in talks with Citigroup, Inc. to potentially acquire the latter’s local retail unit following the banking giant’s decision to exit some markets in Asia Pacific.

“The discussions between [Union]bank and Citi are at preliminary stage, and any transaction in relation to the foregoing would be subject to, among other things, the completion of satisfactory due diligence, the negotiation and execution of definitive transaction documents, satisfaction of the conditions contained therein, and the approval by the regulators of the transaction,” UnionBank Senior Vice President, General Counsel and Corporate Secretary Joselito V. Banaag said in a filing.

Mr. Banaag added there is still no assurance the transaction would push through.

Bloomberg on Wednesday reported that UnionBank is the “preferred bidder” of the American banking giant, citing an anonymous source. The report said UnionBank is expected to negotiate a prospective $1-billion deal in the coming weeks.

Citi Asia head for media relations James A. Griffiths said in November that their retail business in the country has a “very broad range of buyers”. He said they plan to announce a deal by the second quarter or second half of 2022.

Citi is set to exit its consumer business in 13 Asia-Pacific markets including the Philippines. Meanwhile, it will continue to operate its corporate arm in the country.

Top officials from lenders including BDO Unibank, Inc., Bank of the Philippine Islands and East West Banking Corp. have previously said they are interested in acquiring Citi’s local retail banking business.

Based on central bank data, Citibank, N.A. has total assets worth P352.975 billion as of end-June, making it the country’s 12th biggest lender.

Meanwhile, UnionBank is ranked 10th with assets worth P646.071 billion as of end-June.

The Aboitiz-led lender’s net income improved by 26% year on year to P10.71 billion at end-September from P8.482 billion in the same period last year.

Its shares closed at P111 apiece on Thursday, up P6.70 or 6.42% from its previous finish. — L.W.T. Noble

Medilines to sustain growth via consumables business

MEDILINES Distributors, Inc. said it aims to grow its dialysis business by entering the consumables segment.

The company said in an e-mailed statement on Thursday that it targets “to realize more value from its dominance of the sale of equipment.”

“To sustain our growth in the dialysis category, we are transforming this business line into a one-stop shop where our customers can buy not only the equipment, but also their regular supply of consumables,” Medilines Chair-man Virgilio B. Villar said.

“This will help grow our bottom line as consumables tend to have higher profit margins versus equipment,” he said.

Medilines said its net income posted a 16% compound annual growth rate (CAGR) to P103 million from 2018 to 2020, while its topline CAGR rose 11.9% to “just under” P1.5 billion.

In the first six months, Medilines scored a profit of P100 million, while its revenues stood at P815 million. The company said medical linear accelerators (LINACs) made up for over 60% of its sales in the first half.

Medilines is said to be the largest distributor of cancer therapy equipment in the country, with a market share of over 90% according to the independent study done by Ken Research, Ltd. Its market share of dialysis machines stood at 50%.

The study also said the cancer therapy equipment market stands to grow with an 18.8% CAGR until 2025. It will be driven by the continued investments into establishing cancer treatment centers.

Medilines is scheduled to list on the main board of the Philippine Stock Exchange on Dec. 7 under the ticker symbol “MEDIC.”

“Amid the volatility, it is a welcome development for the Philippine stock market to finally have a pure-play healthcare listed company as the companies in this sector are typically considered as defensive stocks,” said Ger-ry B. Valenciano, president and chief executive officer of PNB Capital and Investment Corp.

PNB Capital is the sole issue manager, lead underwriter, and sole bookrunner for Medilines’ initial public offering.

The company offered 550 million primary shares for P2.30 apiece, while 275 million shares were sold by Mr. Villar. Medilines will not receive proceeds from the sale of secondary shares.

According to its final prospectus dated Nov. 16, Medilines plans to use P696.8 million of net proceeds for debt repayment, while P507.7 million will be allocated as working capital to procure existing products and to fund the compa-ny’s foray into the medical consumables business.

“Crafting our product portfolio is at the heart of Medilines’ strategy that has brought us sustainable growth over the years,” Mr. Villar said.

“We focus on products with resilient demand while building our capabilities to dominate certain markets rather than chasing a hot selling item that everybody else is selling,” he added. — Keren Concepcion G. Valmonte

Alec Baldwin on fatal movie set shooting; ‘I didn’t pull the trigger’

ALEC BALDWIN/IMDB.COM

LOS ANGELES —  Alec Baldwin said he did not pull the trigger of the gun that killed a cinematographer on the movie set of Rust, while investigators in New Mexico zeroed in on how live ammunition may have found its way to the set.

Mr. Baldwin, who was holding a gun he was told was safe when it went off, spoke in his first full interview about the Oct. 21 shooting.

“Well, the trigger wasn’t pulled. I didn’t pull the trigger,” the actor told ABC television journalist George Stephanopoulos, according to an excerpt released on Wednesday of the interview, which is to be broadcast on Thursday.

“I would never point a gun at anyone and pull a trigger at them. Never,” Mr. Baldwin added.

Cinematographer Halyna Hutchins was killed and director Joel Souza was wounded in what Baldwin has previously called a tragic accident on the set of the Western movie he was making near Santa Fe.

The Santa Fe Sheriff’s Department said on Wednesday it had no comment on Mr. Baldwin’s statement. It was not known whether authorities are pursuing an accidental discharge scenario.

No criminal charges have been filed. Investigators have been focusing their efforts on how live bullets, rather than dummies, got onto the set.

Court documents released on Wednesday showed they found Rust documents and suspected live ammunition for a revolver like the one Baldwin was using during a search this week at the premises of an Albuquerque supplier of props and weapons for movie sets.

The supplier, named as Seth Kenny, earlier told police he believed the live bullets found on the set may have been “reloaded ammunition” that he previously had acquired from a friend, according to the documents. Reloaded ammunition is made up of recycled components, including bullets.

Mr. Kenny could not be reached for comment on Wednesday.

Mr. Baldwin, best known for playing an egotistical TV network executive on the TV comedy series 30 Rock, has kept a low profile since the accident at the Bonanza Creek Ranch near Santa Fe.

Mr. Baldwin, who was the star and also a producer on the low-budget Western, “went through in detail what happened on the set that day,” Mr. Stephanopoulos said on Wednesday on ABC’s Good Morning America show ahead of the interview broadcast.

Two crew members have filed civil lawsuits accusing Mr. Baldwin, the producers and others on the production of negligence and lax safety protocols. The producers have said they are conducting their own internal investigation. — Reuters

PLDT Global, Kwik.Insure team up for OFW insurance

PLDT Global, Kwik.Insure team up for OFW insurance

PLDT Global Corp. on Thursday said it has partnered with online marketplace Kwik.insure to provide overseas Filipinos with access to insurance products.

Under the partnership, PLDT Global, through its mobile application Free Bee, is offering free two-minute calls to individuals who are customers of PLDT, Smart, and TNT in the Philippines.

“There is a need to bridge the gap and insure Filipinos, especially OFWs (overseas Filipino workers) and their families,” PLDT Global President and Chief Executive Officer Albert V. Villa-Real said in an e-mailed statement.

“Aside from giving them peace of mind, this can also be a way to educate them about investing on their health and the future,” he added.

According to the Insurance Commission’s latest data, insurance penetration, or the insurance industry’s contribution to the Philippine economy, was 2.3% in the first quarter of the year.

“This partnership with PLDT Global allows us to reach more Filipinos and provide them with convenient access to discover a wide variety of insurance products that are suited to their needs,” said Hamilton Angluben, founder and chief executive officer at Kwik.insure.

PLDT Global said Filipinos abroad can also subscribe to premium calls, which allow them to make affordable calls to individuals in the Philippines even if they are offline or do not use a smartphone.

“The upgraded Free Bee app also allows Filipinos in Canada, South Korea, United States, India, Singapore, Australia, and Japan to use a Virtual Philippine Number — a local Smart number that is assigned or paired to their Free Bee account — so that their families in the Philippines can freely call or text them and be charged only with local rates,” the company noted.

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

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