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Local space venture gears up for first rocket launch

By Patricia B. Mirasol

Orbital Exploration Technologies, Inc. (OrbitX), the country’s first commercial space venture, is targeting 2023–2024 for its first launch. Its rocket, the Haribon SLS-1, will be propelled by two of the company’s other innovations: the Tamaraw Rocket Engine and RP-2 fuel, a renewable rocket fuel derived from plastics. 

Haribon SLS-1 is in Technology Readiness Level 4, or the level in which components are validated in a laboratory environment, and can carry approximately 200 kilograms in low earth orbit (an orbit with altitude ranging from 200–300 kilometers to 1,600 kilometers).

SPACE ACCESS BENEFITS LIFE ON EARTH

Sustaining earth and accessing space are two of the problems OrbitX tackles. Founded in 2019, the venture aims to be a major provider of affordable, green, and sustainable space access to developing countries while taking care of the environment. Its founder and chief executive officer, Dexter Baño Jr., said that the benefits of outer space ventures are here on terra firma. 

“The real benefit of having access to space is all on earth. Having access to space would allow us to attain better telecommunications, defense technologies, geopositioning services, and meteorological technologies,” he said in an interview with BusinessWorld. “For example, cancer research and farming could be improved if we have access to space. We can also protect our security as a nation because of better defense infrastructures that are only possible in space.”

Space science can help fight cancer by allowing researchers to study cell behavior that’s normally masked by responses to gravity. The gravity experienced in low-earth orbit, for instance, is 10,000 to one million times less powerful than that felt on earth’s surface. In microgravity, cells can be studied “in a state more closely resembling cells in the body.”

Other applications of space technology include: earth observation satellites that monitor greenhouse gases and possible natural calamities such as typhoons; global positioning system (GPS) navigation tools that allow for better mobility and prompt response during search and rescue missions; and microwaves and solar panels that started out as part of space projects but are now part of everyday living.

SEEKING SUPPORT AND COLLABORATION 

Funders of the deep-tech startup’s project include several private individuals and Genix Ventures, a firm focused on investing and accelerating early-stage technology companies in Southeast Asia. Amazon Web Services has also given it a product grant for research worth $6,500 for two years of use. 

A crowdfunding campaign is underway too for those who want to pitch in their support; the general public can choose among packages that include incentives such as a space ticket and an exclusive Haribon SLS-1 launch day seat.

While seeking support, OrbitX discovered that most of the interest came from Indians across Europe and Asia. One such supporter, Abhishek Raju, himself a space industry professional, paved the way for connecting the company with the Indian Space Research Organization. Mr. Baño Jr. said he will be meeting the Indian ambassador to the Philippines soon to discuss a possible diplomatic collaboration between the Philippines and India. 

“India is the most logical ally because, like the Philippines, they started at a very minimal budget to establish an extremely reliable space agency,” he added. “We have similarities in our socio-economic status as countries. We also have a knowledge economy like India, but we are not yet utilizing it properly.”

OrbitX sends the Philippine Space Agency regular updates on its project developments, although it is not affiliated with—nor has it received any funding from—the said agency.

BSP grants new P540-B loan to gov’t

By Luz Wendy T. Noble, Reporter

THE Bangko Sentral ng Pilipinas (BSP) has granted a fresh P540-billion loan to the National Government to boost pandemic relief funds.

“We just approved it last Dec. 28. [It is a] done deal,” Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said in an online forum on Wednesday.

This is the third time the National Government has received support from the central bank, which has extended advances of P300 billion in March and P540 billion in October.

The National Government had made the request for a new loan from the BSP after it repaid its previous P540-billion loan on Dec. 17.

Mr. Diokno said they allowed another direct advance “because the National Government needs it” at a time when revenues are down while expenditures are on the rise.

“I call it bridge financing. In the meantime that they do not have the taxes and the cash to pay for the COVID-related programs, then we lend them P540 billion,” Mr. Diokno said.

He said the direct advance will be a “non-interest bearing loan” with the same terms as the previous advance — payable within three months and extendable for settlement for another three months.

Under Republic Act No. 11494 or the Bayanihan to Recover as One Act, the central bank is authorized to lend the National Government an equivalent of 30% of its average revenue or P850 billion. The previous cap was set at 20% of its average annual revenue.

The BSP chief said the National Government can make another request for direct advances given it is within the provision of the law.

“They have to pay first, whatever we lent them. And then, we consider another request,” Mr. Diokno said.

The National Government’s gross borrowings in the first 11 months of 2020 reached P3.048 trillion. In November alone, gross borrowings skyrocketed 764% to P124 billion from P14.346 trillion. This year, the government targets to borrow P3 trillion.

The budget deficit swelled to P108.2 billion in November, surging by 148.29% from the P43.6-billion gap a year earlier, as revenues dropped alongside a rise in government expenditures.

Aside from its direct advances to the Bureau of the Treasury, Mr. Diokno has said they have been purchasing government securities in the secondary market.

“This is part of BSP’s immediate monetary policy response to help shore up domestic liquidity, and restore market players’ confidence to continue participating in primary auctions,” Mr. Diokno said.

A World Bank report released on Monday stressed the need to coordinate conventional and unconventional monetary policies.

“Monetary policy alone cannot prevent rising concerns over solvency associated with elevated government borrowing yields,” the report said.

While non-conventional policies were instrumental in restoring market functioning following the instability caused by the COVID-19, World Bank said their medium- and long-term effects in emerging and developing economies have yet to be fully assessed.

“Structural, financial, and fiscal reforms are needed to reduce the risk of debt distress in response to the COVID-19 pandemic over the longer-term,” it added. — with Beatrice M. Laforga

Outstanding debt rises to P10.13T as of end-Nov.

THE government’s outstanding debt further rose to P10.13 trillion as of end-November as it continued to raise much-needed funds for its efforts to respond to the coronavirus disease 2019 (COVID-19) pandemic.

The Bureau of the Treasury (BTr) on Wednesday reported the total outstanding debt of P10.13 trillion was 1.1% higher than the P10.02-trillion debt as of end-October, due to higher borrowings from domestic lenders.

“From the start of the year, the NG (National Government) debt stock has grown by P2.40 trillion or 31.1% owing to higher funding requirements to respond to the COVID-19 pandemic and other socio-economic measures,” the BTr said in a statement.

The end-November tally represents 99.7% of the government’s projected P10.16-trillion debt stock by the end of 2020.

Around 71% of the total were from domestic sources while the rest were sourced offshore.

Domestic debt stood at P7.192 trillion as of end-November, up 1.6% from the P7.077-trillion level the month prior and 40% higher than the P5.115 trillion a year ago.

The increase was mainly due to the issuance of domestic government securities which went up by 1.8% to P6.65 trillion from the month prior and 30% year on year.

Outstanding external debt slipped by 0.3% month on month to P2.942 trillion as of end-November.

The BTr said the decline was due to the continued appreciation of the peso versus dollar in November, which resulted in P10.74 billion in net effect of currency adjustments. This more than offset the government’s net foreign loan availments worth P2.55 billion, the BTr said.

Year on year, the external debt jumped by 13.4% from P2.594 trillion in November 2019.

Outstanding external debt is composed of loans worth P1.288 trillion and global bonds issued last year worth P1.653 trillion.

The Republic of the Philippines tapped the foreign capital markets three times in 2020 to raise more funds for its pandemic response.

Total government guaranteed obligations, meanwhile, fell by 1.1% month on month to P442.83 billion after the net repayments worth P4.26 billion were made to both local and foreign guarantees. The peso’s appreciation against the greenback also reduced the value of external guarantees by P1.4 billion, which more than offset the P630- million effect of third-currency appreciation on external guarantees.

Year on year, total guarantees went down by 5.3% from P228.1 billion.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a note to journalists on Wednesday that they expect state borrowings to increase further over the coming months as the government borrows more to prop up the economy and fund its mass vaccination drive.

“The Philippines’ external debt-to-GDP ratio is much lower at 25.3% as of 3Q 2020, relatively lower compared to similarly rated countries, thereby also giving the government greater leeway to increase foreign borrowings while managing foreign exchange risks that may entail,” Mr. Ricafort added.

This year, the total debt stock is seen rising further to P11.982 trillion by end-December or 58.3% of GDP as the state borrows more to plug its budget deficit. — Beatrice M. Laforga

Implementation of short selling may be ‘challenging’

By Revin Mikhael D. Ochave, Reporter

THE much-awaited implementation of short selling may face challenges, as the local stock market is still “very illiquid” and remains small compared with other markets, experts said.

COL Financial Group, Inc. Chairman and Founder Edward K. Lee said short selling may be difficult since the local market is not yet fully developed and the number of investors is still small.

“The volume of the Philippine market is still very illiquid. If it is illiquid, it is very difficult to short sell,” Mr. Lee said in a mobile phone interview.

PSE President and Chief Executive Officer Ramon S. Monzon earlier said the exchange is looking forward to implementing the short-selling program this year. However, he said the PSE will still have to address concerns by foreign investors on the securities borrowing and lending (SBL) program rules.

Short selling is the sale of a stock that is not owned by the investor, but will be settled by the delivery of a borrowed stock. An investor can generate a profit by selling the borrowed stock, and then buying it back when the price declines.

“When you are shorting markets, it is a different ball game. You can have unlimited losses,” Mr. Lee added.

A risk in selling short is that one can lose more than the original investment. A short seller’s loss potential is unlimited since there is no cap on how much the stock price can rise.

“In short selling, you are not in control. Short selling is more volatile. You have to be more careful,” Harry G. Liu, Summit Securities, Inc. president, said in a phone interview.

Mr. Liu said it is important to have safeguards in place.

“The person who sold has to have the guarantee that he can buy back and pay for the difference. There should be safeguards on short selling in terms of the ability to buy back at a certain time. Because of the volatility of the price, hindi mo masabi – if you short one million, and the market is very thin, you might not be able to cover the whole thing immediately, di ba? The ability to cover is very important,” he said.

However, Mr. Liu said short selling has its role and can be very helpful for the local bourse.

“Short selling will prevent the market from crashing very fast because the person who sold will have to buy back (the shares). It can be a mechanism to be able to create buying support,” he said.

Meanwhile, Regina Capital Development Corp. Head of Sales Luis A. Limlingan said the introduction of short selling will help stimulate investor demand.

“New products mean new avenues for investment and more diversification,” Mr. Limlingan said in a mobile phone message.

For Timson Securities, Inc. Head of Online Trading Darren Blaine T. Pangan, short selling would be beneficial to investors since it allows them “to hedge the risk that naturally comes with a ‘long-only’ portfolio, especially when market downturns come into the story.”

“Similar to going long, shorting stocks also requires careful research and due diligence as it may also work against traders and investors,” Mr. Pangan said in a mobile phone message.

Before implementing short selling, PSE’s Mr. Monzon said there are three items that need regulatory clearance, namely: SEC’s approval of the Philippine Depository and Trust Corp. (PDTC) as a lending agent; the SEC’s approval of identified offshore assets as collateral for foreign SBL participants; and the go signal from the BIR for the use of Global Master Securities Lending Agreement (MSLA) for foreign participants instead of the local MSLA.

“While there are no more pending items on the short selling program, it has a lot of dependency on the SBL program,” Mr. Monzon said.

PHL seen to post 2nd worst slump in East Asia

The Philippines is one of the worst-hit economies in East Asia, according to the World Bank. — PHILIPPINE STAR/MICHAEL VARCAS

THE WORLD BANK said the Philippine economy likely saw the second-worst slump in the developing East Asia and the Pacific region last year, due to the extended lockdowns and a prolonged coronavirus disease 2019 (COVID-19) outbreak.

In its Global Economics Prospects report published on Wednesday, the Washington-based multilateral lender kept its 2020 gross domestic product (GDP) forecast of an 8.1% contraction for the Philippine economy.

This is the second-steepest contraction among 14 developing economies in East Asia and the Pacific in the World Bank report, only better than Fiji’s estimated 19% GDP decline.

However, the World Bank forecast is smaller than the 8.5-9.5% slump expected by the Philippine government.

If realized, the World Bank’s estimate would be the biggest full-year economic contraction in Philippine history, after the 7% GDP contraction in 1984, based on available official data dating back to 1947.

The World Bank noted the Philippines is among the “worst-hit” economies in the region, which had “extended periods of lockdown combined with large domestic outbreaks.”

“Restrictions on economic activity to stem the pandemic have largely eased across the region, and goods exports have started to recover. Although the spread of the pandemic appears to have slowed in much of the region, infection rates remain elevated in Indonesia and the Philippines and have been increasing recently in Malaysia,” the report read.

The Health department reported 1,047 new COVID-19 infections bringing the overall tally to 480,737 as of Wednesday. This is the second highest in Southeast Asia, after Indonesia which had 788,402 COVID-19 infections as of Wednesday.

The World Bank also kept its Philippine growth forecast at 5.9% this year and 6% in 2022. This is below the Philippine government’s 6.5-7.5% growth target this year and 8-10% in 2022.

Meanwhile, the World Bank said the emerging East Asia and the Pacific region likely inched up by an average of 0.9% last year, before growing by 7.4% and 5.2% this year and next year.

Economic recovery this year is likely to be led by China which is seen growing by 7.9%, while the rest of the region could see a more prolonged recovery. — B.M.Laforga

AREIT buys 9.8-hectare land in Laguna Technopark

AREIT, Inc. has acquired 9.8 hectares of land owned by Technopark Land, Inc. (TLI) in a move that could help boost its income generation capabilities.

In a regulatory filing on Wednesday, the company said it purchased TLI’s land that consists of four parcels of land and is being leased by Integrated Micro-Electronics, Inc. (IMI) for the next seven years.

AREIT said the land is situated in Laguna Technopark, and was bought via a deed of sale amounting to P1.1 billion, inclusive of value added tax.

“The acquisition of this land will directly contribute to AREIT’s income starting this month, adding to the earnings generated by the company’s existing buildings,” the disclosure said.

“This will increase the distributable income to its shareholders, demonstrate AREIT’s ability to deliver stable and regular dividends, and strengthen its potential for capital appreciation,” it added.

According to the disclosure, Laguna Technopark is an industrial park that spans 471 hectares. It covers portions of Biñan and Santa Rosa in Laguna, and is managed by AyalaLand Logistics Holdings Corp., a subsidiary of Ayala Land, Inc.

AREIT said that together with its acquisition of The 30th in Pasig last October, its portfolio will reach 344,000 square meters of leasable space, higher than the current figure of 171,000 square meters. It also puts the company’s total property value to P37 billion.

“Aside from being value-accretive to investors, AREIT’s assets promote job creation for Filipinos. AREIT’s office buildings are home to top local and global companies that employ over 50,000 Filipino workers, including this newly acquired land where over 5,000 jobs are generated,” AREIT President and Chief Executive Officer Carol Torres-Mills said.

In August last year, AREIT had its P12.33-billion initial public offering (IPO), which marked the first real estate investment trust (REIT) listing in the country. Under REIT guidelines, AREIT must reinvest its offer proceeds in the Philippines within a year from its IPO.

On Wednesday, shares in AREIT at the stock exchange fell 0.17% or five centavos to close at P28.95 per piece. — Revin Mikhael D. Ochave

GMA Network sets over P20-B for capex, content cost for 2021-2023

GMA NETWORK, Inc. has allocated more than P20 billion for capital expenditures (capex) and content cost in 2021 until 2023, it said on Wednesday.

In an e-mailed statement, the listed media company said the three-year capex budget covers the construction of a new building in Quezon City, continuing expansion of its digital terrestrial television reach, and several regional projects.

A “huge portion” of the budget is allocated for content production and post-production, it added.

GMA Network also said it plans to launch “early this year” a mobile digital TV receiver.

The product will enable viewers to watch TV “on the go for free with bonus interactive features,” it said.

The media giant had set aside a capex of P1.22 billion last year. In July, GMA Network Chairman and Chief Executive Officer Felipe L. Gozon said the network would defer 30% of its capex budget for the year due to the coronavirus pandemic.

The company saw its attributable net income for the third quarter of 2020 jump 199.62% to P2.49 billion from the previous year’s P832.64 million.

The network’s third quarter revenues grew 37.20% to P5.91 billion.

GMA Network currently offers a variety of content through its digital channels aside from its programs on GMA-7 and GMA News TV.

“Further diversifying its programming, GMA is the new home of the National Collegiate Athletic Association (NCAA) for Season 96 to 101 — including the centennial year of the Philippines’ first athletic league in 2024,” the network also said.

GMA Network shares on Wednesday closed 2.18% lower at P5.82 apiece. — Arjay L. Balinbin

Converge ICT network now ‘stronger and more resilient’

CONVERGE ICT Solutions, Inc. announced on Wednesday an improvement in its network, saying it now has a better ability to address outages.

In an e-mailed statement, the fiber internet service provider said it had deployed a third core node to further improve its customers’ internet experience.

“A third core backbone node will enable a robust and redundant traffic routing in the network, making it more fault tolerant,” Converge ICT said.

“Previously, the main network backbone of Converge was connected to two core nodes located in Metro Manila and Pampanga. With the completion of a third core network backbone node last December, the Converge end-to-end pure fiber network becomes stronger and more resilient with a more efficient network traffic distribution and better ability to address outages,” it explained.

The company had experienced “power-related” issues in its data center in November affecting its subscribers nationwide. Converge Founder and Chief Executive Officer Dennis Anthony H. Uy said the company would put up another data center to address outages.

Mr. Uy said on Wednesday that Converge’s expansion efforts have been running at an “unprecedented pace.”

“We know that network capabilities need to be more, so we can serve everyone as best as we could,” he noted.

Converge recently deployed 34 broadband remote access server systems throughout Luzon to “help enhance customer internet experience as it increases reliability and decreases latency,” the company said. “Having installed in a geographically distributed architecture enables avoiding a single point of failure.”

The company announced in December that its subscribers had reached one million.

Converge ICT shares on Wednesday closed 0.80% lower at P14.84 apiece. — Arjay L. Balinbin

PHL is 4th in region for women with most leadership posts

THE PHILIPPINES ranked fourth in Southeast Asia in a study measuring the percentage of women holding leadership positions in e-commerce companies, online shopping company iPrice Group said.

With 39% of top-level positions in e-commerce firms held by women in the third quarter of 2020, the Philippines dropped to fourth out of the seven countries studied after holding the top spot in 2018.

“Hong Kong has the highest percentage of women in power in the top e-commerce companies in Southeast Asia, where 55% of the top-level roles are actually women,” iPrice said.

Vietnam and Hong Kong followed with 46% and 44%, respectively. Malaysia trailed the Philippines with 37%, followed by Indonesia (36%) and Singapore (35%).

“Overall, there is a 60-40 disparity between men and women when it comes to being in positions of power,” the report said.

The gender gap in Southeast Asia is wider for C-level and vice-president roles, with only 31% and 38% of the positions held by women.

But the gap shrinks with senior vice-president roles, 44% of which are taken on by women. Similarly, department heads in these firms are 41% women.

The Philippines last year topped a list of 32 countries in a global survey on the role of women in senior management. The Grant Thornton International 2020 Women in Business report showed that 43% of female executives were in a senior leadership role, compared to the 29% of female executives globally.

The iPrice report also found that Filipinos in e-commerce are the second-most “satisfied” with their jobs in Southeast Asia, after Indonesia.

“They give their top 3 e-commerce companies a 3.8-star rating, while 76% of them would recommend the companies to friends, and 87% of them approve of their CEOs,” iPrice said, but noted that the Philippines also has one of the lowest recorded salaries among the countries studied. — Jenina P. Ibañez

Yields on term deposits decline on post-holiday demand surge

YIELDS ON term deposits offered by the Bangko Sentral ng Pilipinas (BSP) slipped on Wednesday as demand picked up following the holidays and with the financial system still awash with liquidity.

Total bids for the BSP’s term deposit facility (TDF) reached P867.292 billion on Wednesday, going beyond the P530-billion offering and also higher than the P531.223 billion in tenders logged on Dec. 22, the last auction in 2020.

“The results in the TDF auction reflect increased market interest for the BSP’s deposit facilities as demand for cash gradually normalizes following the December holidays,” BSP Deputy Governor Francisco G. Dakila, Jr. said in a statement.

Broken down, demand for the seven-day term deposits amounted to P380.918 billion, surpassing the P190 billion on the auction block as well as the P159.937 billion in tenders seen in the previous offer.

Accepted rates for the one-week tenor ranged from 1.6105% to 1.7%, narrower than the previous auction’s yield margin of 1.65% to 2%. With this, the seven-day paper’s average rate stood at 1.6735%, falling by 3.8 basis points (bps) from 1.7115% seen in the previous offering.

Meanwhile, for the 14-day papers, demand reached P486.374 billion, higher than the P340-billion offering and also more than the P371.286 billion seen for the P320 billion auctioned off on Dec. 22.

Banks asked for yields ranging from 1.6125% to 1.7125%, a slimmer band than the 1.6% to 1.7444% logged in the previous auction. This caused the two-week tenor’s average rate to slip by 1.84 bps to 1.6819% from 1.7003%.

For the 12th straight auction, the BSP did not offer 28-day term deposits following the start of its weekly offerings of short-term bills with the same tenor.

The TDF and BSP securities are among the tools used by the central bank to gather excess liquidity in the financial system and to better guide market interest rates.

“Yields mostly eased for the first auction for 2021, as the premium for short-term funds eased upon crossing the new year with the end of window-dressing and balance sheet management shortly before the accounting,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a text message on Wednesday.

Despite the faster inflation seen in December, the lower yields, backed by higher demand, reflect the “large excess liquidity” in the financial system, Mr. Ricafort added.

Inflation rose to 3.5% in December, quicker than the 3.3% in November as well as the 2.5% print a year ago due to the surge in food and transport prices. The December inflation print was also the fastest in 22 months or since the 3.8% reading in February 2019.

This caused headline inflation to average at 2.6% in 2020, slightly faster than the 2.5% logged in 2019 but matching the BSP’s forecast and also falling within its 2-4% target. — Luz Wendy T. Noble

Alegria oil field cannot supply fuel on a national scale, DoE official says

PRODUCTION capacity of the onshore Alegria oil field in Cebu is not enough to supply fuel on a regional and national level, a Department of Energy (DoE) official said on Tuesday.

“Although [its production capacity] is significant from a local perspective, it’s not enough to supply at a regional or even more so, the national level,” DoE Assistant Secretary Leonido J. Pulido III told Senator Risa N. Hontiveros-Baraquel during a Senate hearing on the Midstream Natural Gas Industry Act. He did not give exact figures on the oil field’s current production capacity.

In 2016, the DoE and the oil field’s service contractor China International Mining Petroleum Co. Ltd. (CIMP) said that the 197,000-hectare area in Southern Cebu had commercial quantities of natural gas.

Mr. Pulido made the statement in response to Ms. Hontiveros-Baraquel’s question on the Alegria oil field’s status of production.

Although the oil field was “ramping up,” it had experienced some delays, said Mr. Pulido. He did not explain the cause of the setbacks.

Last year, Hong Kong-based Polyard Petroleum International Group Ltd.’s unit CIMP signed a drilling service agreement with oil services firm East Asia Oil Engineering Group Ltd. The deal, which was inked on Jan. 11, remained valid until Dec. 31 last year.

Under the deal, East Asia Oil was tasked to provide turnkey services to help CIMP drill six production wells in the Alegria oil field. The services included supplying a full set of drilling equipment, materials and personnel in well drilling, mud logging, wire line logging, cementing, testing and other related services.

CIMP, which held Petroleum Service Contract No. 49 covering the Alegria oil field, began exploration and drilling activities in the area in 2009.

Three years ago, DoE Secretary Alfonso G. Cusi said that the Southern Cebu oil field could produce enough natural gas to supply the requirements of a small power plant with a capacity of 60 megawatts.

He added that the two oil wells in the field could produce 180 barrels of crude oil each.

The US Energy Information Administration described the Alegria oil field as one of the two active petroleum fields in the Philippines, with the other being the Galoc offshore field in the northwest Palawan basin. — Angelica Y. Yang

What are you doing after New Year’s Eve?

Cooking up the leftovers

IT’S BEEN just a week since your New Year’s Eve dinner, and we’re sure you’ve got a full fridge. We trust that numerous servings of lechon paksiw and days of chicken sandwiches might grind your gears. San Miguel Culinary Center’s cooking show, Home Foodie, helped us out with these recipes that might make your holiday recipes taste completely new. —  JLG

CHICK ‘N JUICY ARROZ CALDO

Skip the chicken sandwiches, there is a warm, tasty soup for these colder January days.

Ingredients:

2 tbsp Magnolia Nutri-Oil Coconut Vegetable Oil

1-1/2 cups shredded leftover Magnolia Chick ‘N Juicy (or just about any fried or roast chicken)

1 piece (18 gm) ginger, sliced and pounded lightly

1 piece (50 gm) onion, sliced

4 cloves garlic, crushed

3 cups rice, washed once

6 cups water

2 tbsp patis (fish sauce)

1 (20 g) stalk green onion, chopped (optional)

Procedure:

Heat oil in a pan and sauté the ginger, onion, garlic, and rice.

Add chicken and water. Simmer for 30 minutes over low heat, stirring occasionally until rice is cooked. Season with patis.

Top with green onion.

Makes seven servings.

CHICKEN TURMERIC RICE

When you have leftover chicken adobo from cooking up your leftover roast chicken.

Ingredients:

1/4 cup Magnolia Nutri-Oil Palm Vegetable Oil

2 pieces (100 gm each) potatoes, cubed

1 cup shredded leftover chicken adobo, reserve adobo sauce

4 cloves garlic, crushed

1 tbsp turmeric powder

1 piece chicken bouillon cube

1/4 tsp pepper

1 (160 grams) bundle mustard greens, cut into 2-inch length pieces

4 cups cooked rice

Procedure:

Heat half of the oil in a large pan then fry potatoes until cooked. Add the leftover chicken adobo and sauté. Set aside.

In the same pan, add the remaining oil and sauté the garlic, turmeric powder, chicken cube, and pepper. Add the reserved adobo sauce and simmer for two minutes.

Add mustard greens and cook until bright in color. Add the rice and toss well.

Arrange on a serving plate and top with the chicken and potato mixture.

Makes six servings.

Tip: You can also toss the chicken and potatoes in the rice.

FIESTA HAM FRIED RICE

Skip the ham sandwiches for this breakfast (or lunch) special.

Ingredients:

1 tbsp Golden Fry Palm Oil

1/2  a ball (500 gm) of Purefoods Fiesta Ham (or any other leftover ham), cut into 1 cm cubes

1 head garlic, finely crushed

3 eggs

6 cups chilled cooked rice

1 tsp fine iodized salt

Procedure:

In a non-stick wok or large pan, cook ham in oil until its surface caramelizes.

Add garlic and cook until sticky.

Make a well in the center of the ham bits and add eggs. Cook until almost set and then scramble to fully cook.

Add rice and mix well. Season with salt.

Makes six servings.

ADOBO PIZZA

Another dish to jazz up that classic leftover recipe.

Ingredients:

1 pc pre-baked pizza crust (12 inches)

1/2 cup sweet-style pizza sauce

1/3 cup grated Magnolia Quickmelt Cheese

1/3 cup cubed leftover adobo

1/2 cup cubed kesong puti  (carabao milk cheese)

1 pc tomato, chopped

1 egg hard-boiled then cut into eighths

2 tbsp toasted garlic

Procedure:

Preheat the oven to 550°F.

On a pizza crust, spread the pizza sauce then top with cheese.

Arrange the rest of the toppings on top of pizza crust and bake for three minutes.

Makes eight servings.

BOSCAIOLA FRITTATA

A deceptively fancy way to deal with leftover ham.

Ingredients:

2 tbsp Magnolia Gold Butter (Unsalted)

1 can (198 gm) button mushrooms pieces and stems, drained

3 cloves garlic, minced

1 tbsp chopped parsley (optional)

200 grams leftover Purefoods Fiesta Ham, diced or cut into thin strips

1/4 tsp iodized fine salt

1/8 tsp pepper

6 eggs, beaten

1/2 cup Magnolia Fresh Milk

1/2 cup grated Magnolia Queso de Bola

Procedure:

In a frying pan, melt the butter on medium heat and sauté the mushrooms, garlic, parsley, and ham. Season with salt and pepper.

Meanwhile in a large bowl, combine the eggs, milk, and cheese. Pour over the filling in the pan.

Cover and cook over lower heat until set. Check doneness by sticking a toothpick in the middle. The toothpick should come out clean and without any egg mixture on it.

Makes eight servings.

ROAST CHICKEN PIZZA

How to deal with leftover chicken, lechon, or pork.

Ingredients:

1/2 kg leftover Magnolia Chick ‘N Juicy Sweet Roast (you can also use leftover lechon or roast pork)

2 pre-baked pizza crusts (12 inches)

1/2 cup store-bought barbecue sauce

1 cup store-bought pizza sauce

1/2 cup grated mozzarella cheese

1/2 cup grated Magnolia Quickmelt Cheese

1 (100 gm) red bell pepper, sliced

1 (50 gm) bundle fresh cilantro leaves

Procedure:

Remove meat from bones and shred into large pieces. Mix with the barbecue sauce and set aside.

Place the pizzas on baking trays. Spread 1/2 cup of pizza sauce on the surface of each pizza.

Combine the mozzarella and Quickmelt cheese. Top each crust with 1/4 cup of cheese and equal portions of the marinated chicken and the bell pepper slices. Top with the remaining cheese.

Bake in a preheated oven for 15 to 20 minutes at 450 degrees F. Top with fresh cilantro leaves before serving.

Makes two 12” pizzas at eight slices per crust for a total of 16 slices.

CHICKEN BARBECUE WRAPS

Something different for the leftover roast chicken.

Ingredients:

1/4 cup Magnolia Nutri-Oil Coconut Vegetable Oil

1 cup sliced red bell peppers

4 cups flaked leftover roast chicken

1 cup store-bought barbecue sauce

8 pieces flour tortillas

1 pack (120 g) Magnolia Cheezee Squeeze

1/4 cup chopped parsley

Procedure:

Heat the oil in a pan over medium heat. Add the bell peppers and cook until tender. Add chicken together with barbecue sauce. Mix well.

To assemble, place the chicken filling in the middle of the tortillas. Roll tortillas into cone shapes then drizzle warm cheese onto the filling. Garnish with parsley.

Makes eight servings.

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