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AC Energy completes P13-billion follow-on offering

AC Energy Corp. has concluded its P13-billion follow-on offering, raising the Ayala-led firm’s fresh capital to P27.5 billion, it said on Monday.

In a regulatory filing, the firm said it had completed the sale of 2,010 million common shares on May 14.

Of the number, some 1,580 million shares were sold during the primary offer, 330 million shares were sold by AC Energy and Infrastructure Corp. (ACEIC) and Bulacan Power Generation Corp. during the secondary offer, and some 100 million were oversubscribed and sold by ACEIC.

ACEIC holds majority interest in ACEN.

“The offer was significantly oversubscribed, driven by the institutional tranche, as high-quality domestic and international institutional investors locked-in demand for ACEN,” the firm said. “The offer also saw a significant participation from PSE (Philippine Stock Exchange) trading participants and retail investors.”

In a Monday briefing, AC Energy President and Chief Executive Officer Eric T. Francia said that the follow-on offering concludes the firm’s final fund raising for the year.

The follow-on offering comes after ACEN’s stock rights offering and Singapore-based GIC Pte. Ltd affiliate’s private placement in the Ayala unit, which took place earlier this year.

“The total of those (three equity capital raising activities) is around P27.5 billion of fresh capital for ACEN. That will be deployed in support of our renewable expansion, particularly in the Philippines,” Mr. Francia said.

He added that this amount is included in the firm’s dry powder which has hit close to $1.2 billion covering its Philippines and international units.

Mr. Francia earlier said that ACEN is working on a renewable pipeline of 12,000 megawatts (MW), including projects in the country.

“We’re now approximately 2,500 MW of attributable capacity, of which 1,900 MW is from renewable sources (from) international and Philippines (units),” he explained.

He added that the firm is targeting to begin the construction of 1,000 MW worth of projects within the next six to 12 months, which will be equally split between its local and international platforms.

ACEN aspires to become the largest listed platform in the region as it hopes to reach a target net attributable capacity of 5,000 MW by 2025.

Shares of ACEN improved by 3.04% or 21 centavos to close at P7.11 apiece on Monday. — Angelica Y. Yang

Filinvest Land income slips as residential revenues fall

Filinvest Land-logo

FILINVEST Land, Inc. (FLI) posted a 45% decline in net income attributable to equity holders in the first quarter as residential revenues continue to fall.

The net income attributable to equity holders fell 45% to P736 million in the first three months compared with P1.35 billion in the same period last year, the company said in a disclosure to the stock exchange on Monday.

Gross revenues dropped by 20% to P4.54 billion as residential revenues fell by 20% to P2.47 billion.

The listed property developer said that residential sales inched up 2.4% to P3.44 billion in the first quarter compared to the preceding three months, signaling demand for affordable and mid-income housing.

The company has a P30-billion residential project pipeline as it looks to expand to Bataan, Naga, Dagupan, and General Santos.

“We prioritize first time home owners and the ultimate end users market. Our brands, Aspire and Futura, provide more depth within this market segment through a whole range of housing products addressing budget constraints and lifestyle preferences,” FLI President and Chief Executive Officer Josephine Gotianun-Yap said.

The company’s capital expenditures for the first quarter amounted to P3.08 billion, with 59% going to residential development and 30% to office developments.

“We remain optimistic that despite the challenges, 2021 will be a better year. We look forward to further growing our residential and leasing businesses, as well as our new initiatives, such as the industrial and logistics parks; as we serve the needs of our stakeholders while observing safety and health protocols,” Ms. Gotianun-Yap said.

FLI in 2020 posted a 41% fall in net income attributable to equity holders to P3.73 billion after the company noted the effects of the pandemic on the property sector.

Shares in FLI went up 1.85% or two centavos to P1.10 apiece on Monday. — Jenina P. Ibañez

Axelum net income up 20.4% in first quarter

AXELUM Resources Corp. posted a 20.4% improvement in its net income for the first quarter to P145.60 million on the back of stronger sales.

In a regulatory filing on Monday, the listed coconut manufacturer and exporter said its net income for the January-to-March period is an improvement from the P120.94-million profit it had in the similar period last year.

Axelum said its net sales for the quarter rose 22.5% to P1.47 billion compared to P1.20 billion the year earlier after posting growth in core product segments.

The company added that its operating income climbed 62.4% to P170.22 million from P104.80 million due to expanded margins.

“In terms of volumes, desiccated coconut grew 19% while sweetened coconut, coconut milk powder and coconut water, increased 19%, 15% and 10%, respectively. Gross margin improved to 25% from 21% in spite of escalating raw material prices and shipping costs,” the company said.

“For coconut water, Axelum saw delivered volumes climb 10% owing to enhanced nut processing activities and higher water collection,” it added.

Further, Axelum said its e-commerce business incurred a 104% jump in terms of sales during the period.

Axelum currently sells products under the Fiesta Tropicale brand on e-commerce platform Amazon USA. On May 3, the company also announced its entry into the local e-commerce segment with the launch of its own online coconut store in Shopee and Lazada.

“Global demand for desiccated coconut and sweetened coconut particularly in the United States, stayed resilient attributing to the sharp recovery of the food manufacturing, food service and retail sectors,” the company said.

Henry J. Raperoga, Axelum president and chief operating officer, said the company’s performance is off to a strong start for the year.

“Moving forward, we expect to benefit from continuing investments in capacity upgrades, plant modernization and pandemic response initiatives. These strategies will enable us to withstand prolonged uncertainties and sustain our growth momentum in the long term,” Mr. Raperoga was quoted as saying.

According to Axelum, it was recently granted a four-year tax holiday for its new agglomerated spray-dryer which began commercial production in April. The said equipment is set to double the production capacity of the company’s coconut milk powder segment.

The company added that it has a pending application for qualified tax incentives as a pioneer producer of pressed coconut water in the country.

On Monday, shares of Axelum at the stock exchange climbed 7.37% or 21 centavos to close at P3.06 apiece. — Revin Mikhael D. Ochave

The Pinoy tradition of setting silent films to music

International Silent Film Fest now hosts competition

IT IS rather ironic that the first silent films made in the Philippines were influenced by the zarzuela, a Spanish traditional musical comedy or drama with plotlines about everyday life.

“For almost the first 50 years of cinema in the country, zarzuela films were the dominant cinematic films [in the country]. The irony came when cinema was silent. And so how can we say there was influence of zarzuela which is a musical form?,” said Nick Deocampo, film director and historian, and Associate Professor at the Film Institute of the University of the Philippines, during the online press launch of the 15th International Silent Film Festival (ISFFM) which was held on May 12 via Zoom.

“How did it influence, for example, the making of the Dalagang Bukid?,” said Mr. Deocampo, who gave a short introduction to silent films in the Philippines.

Dalagang Bukid (1919) was the first silent narrative film by the “Father of Philippine Movies” Jose Nepumuceno.

“Even if the film itself was silent, Jose Nepumuceno has an orchestra play the music,” Mr. Deocampo pointed out, adding that the film’s lead actress, Atang de la Rama, would sing the song “Nabasag ang Banga” (“The Jar is Broken”) live at the theater during screenings.

It is with this backdrop that one sees how appropriate has been the form taken by the International Silent Film Festival through the years — it has shown silent films from different countries with live musical accompaniment in the theater during the screenings — in one of the oldest film cultures in Asia.

“Silent films have passed, but they’re not gone. In this day and age, where audiences are stirred with the new, as well as the nostalgic, the silent film still finds its way into the hearts of many film enthusiasts,” said Film Development Council of the Philippines (FDCP) Chairperson and CEO Mary Liza Bautista Diño-Seguerra at the press launch.

And on this its 15th year, the ISFFM sets out to promote silent filmmaking by establishing Mit Out Sound (MOS): International Silent Film Lab 2021. The competition also serves as a tribute to the film pioneer Jose Nepumunceno.

The online MOS: International Silent Film Lab aims “to encourage the production of silent films and discover new talents,” said a press release. The participants will be mentored by local and international filmmakers on story development, editing, and other technicalities.

“For the very first time, we hope that through this endeavor, our filmmakers can rediscover the silent genre and create reimagined portrayals of the cinematic past of the Philippines, the silent cinema era,” said Ms. Diño-Seguerra.

The ISFFM — which was established in 2007 by the FDCP, the Embassy of France, the Philippine Italian Association (PIA), Goethe-Institute Philippines, Instituto Cervantes de Manila, and the Japan Foundation, Manila — has issued a nationwide call for entries by amateur and professional filmmakers aged 16 and above. The competition carries the theme “Reimagining the Past with the Present.”

Ten filmmakers will be chosen to undergo the intensive MOS film lab. The FDCP, through its Film Cultural Exchange Program (FCEP), will conduct all MOS activities, including the Visual Storytelling Lab, Safe Filming Lab, and Editing Lab sessions that will be held via Zoom. 

Participants will each be awarded a production grant worth P50,000 to produce their silent shorts which will premiere at the Silent Short Film Competition at the 15th ISFFM in November.

During the festival, three awards will also be given: the Best Film Award (P20,000 with trophy and certificate), the Jury’s Special Prize Award (P10,000 with trophy and certificate), and the Jose Nepomuceno Award (P15,000 with trophy and certificate).

Aside from the silent film competition, the French Embassy, PIA, Goethe-Institute, Instituto Cervantes, and Japan Foundation will also screen silent films online.

The ISFFM is among the few remaining silent film festivals in the world and is the first and oldest Southeast Asian silent film festival.

The FDCP is currently coordinating with the National Commission for Culture and the Arts (NCCA) for a hybrid format closing ceremony, where the films will be screened in a movie theater accompanied with live music and audiences may view them online.

“Silent film is our own audiovisual heritage that acts as a time machine to our distant past, transporting us to the beauty of the mysterious of the beginning of cinema. Breathing life into these films through contemporary music, allow us to recollect that knowledge and relationship today to the legacies of our ancestors in the past,” Japan Foundation Manila Director Ben Suzuki said at the same press launch. 

“As one of the founders of this festival, it is my greatest hope that through this initiative, we could continue to inspire more Filipinos to create extraordinary films,” Mr. Suzuki said.

The deadline for interested filmmakers to submit the needed requirements to specialprojects@fdcp.ph is June 18. To download the application form and for more information, visit https://www.fdcp.ph/mitoutsound. For inquiries one may also contact Julienne Calugcug at jmcalugcug.fdcp@gmail.com or specialprojects@fdcp.ph. For more information, visit https://www.fdcp.ph/media/international-silent-film-festival-manila-launches-silent-film-competition-its-15th-year. — Michelle Anne P. Soliman

AllHome posts 27% rise in income on higher revenues

VILLAR-LED AllHome Corp. posted a 27.4% increase in its net income for the first quarter to P344.21 million on the back of improved revenues.

The listed company said in a stock exchange disclosure on Monday that its net income for the January-to-March period is higher than the P270.22 million it had the same period last year.

Sales of the company for the quarter also went up 6.5% year on year to P3.59 billion compared to P3.37 billion it had last year.

“Gross profit, earnings before interest, taxes, depreciation, and amortization (EBITDA), and net income margins were at 31.9%, 22.1% and 9.6%, respectively, which were all higher by over 125 basis points from same period last year,” the company said.

AllHome Chairman Manuel B. Villar, Jr. said the company’s first quarter performance is carried by the efforts in improving its digital footprint and store network expansion across provinces despite the coronavirus disease 2019 (COVID-19) pandemic.

“AllHome’s digital expansion is one of our top business priorities for the year. Given the change in consumer trend with the ongoing community lockdowns, we believe that on-demand delivery and online shopping will continue to increase and augment in-store sales,” Mr. Villar said in the disclosure.

According to AllHome President Benjamarie Therese N. Serrano, the company’s store network currently stands at 54 locations, with new branches in General Santos City, Cauayan in Isabela, Bacolod in Negros Occidental, and Bacoor in Cavite.

She added that the company remains optimistic that consumer confidence will return as more Filipinos are vaccinated against COVID-19.

“We remain fully committed to delivering the same quality of service, whether it be for in-store or online customers,” Ms. Serrano said in the disclosure.

Camille A. Villar, AllHome vice-chairman, said the company adjusted to the demands of its customers with the shift to online transactions as a result of the pandemic.

“Additionally, we continue to explore the new normal by finding ways to let our customers shop safely in-store, or in the comforts of their own homes via our online channels,” Ms. Villar said in the disclosure.

“To further expand our presence, AllHome is aggressively partnering with the country’s leading digital marketplaces to ensure that we tap all possible markets in the digital space,” she added.

On Monday, shares of AllHome at the stock exchange rose 1.30% or nine centavos to finish at P6.99 per share. — Revin Mikhael D. Ochave

Dispersal of workforce, safety costs bog down construction 

PHILIPPINE STAR/ MICHAEL VARCAS

By Jenina P. Ibañez, Reporter

CONSTRUCTION WORKERS who fled their job sites to wait out the pandemic in the provinces have exposed a weak point in the government’s infrastructure program — its vulnerability to disruption if the builders can’t get to work.

The exact reasons that are preventing their return are a matter of some dispute. Charlie A. V. Gorayeb, chairman of the Chamber of Real Estate and Builders’ Association, said the lack of harmonized quarantine rules across the various government agencies and local governments led to the displacement of workers during the strictest phases of the lockdown.

“There are jobs but some have not started for the simple reason of lack of workers,” he said in a phone interview. “Workers have not really been organized yet because they are scattered all over the country.”

The government has touted its infrastructure program as a generator of jobs, to address massive unemployment caused by the lockdown after the coronavirus disease 2019 (COVID-19) outbreak. The government is planning infrastructure spending of P1.169 trillion this year.

Other delays in restarting construction projects often center on disputes over who will pay for safety measures at job sites, such as testing, the establishment of quarantine areas, and disinfection facilities, according to an official with the Philippine Society of Construction Safety Practitioners, who asked not to be identified.

He said the main issue keeping workers from job sites is anxiety about public health, and not the inability to travel.

“Big companies have service vehicles. They can pick up the workers,” he said in a phone interview, identifying the families of such workers as the main source of resistance to their return. The families, he added, plead for the workers to stay in their provinces and farm, instead of risking their health in the capital, where many of the projects are. The bulk of the active COVID-19 cases in the Philippines are in Metro Manila and neighboring provinces.

The Philippine Constructors Association, Inc. (PCA) estimated in November that 92% of all projects disrupted by the pandemic had restarted in some form, though how much their timetables have slipped remains unclear in the runup to the dry months, which builders must maximize before activity slows with the onset of the rainy season.

Construction accounts for half of all industrial jobs, employing 3.9 million people in October. Staffing has risen significantly from the 2.7 million tallied during the strictest phase of the lockdown in April, although it remains below the 4.2 million recorded before the pandemic, according to government data.

A major labor union said cost-sharing disputes over safety measures have been a major factor in keeping construction workers from returning, though it also cited the role played by the permits and testing required by local governments to move through their jurisdictions and the road checkpoints set up at the various borders.

Associated Labor Unions-Trade Union Congress of the Philippines Spokesperson Alan A. Tanjusay said in a phone interview that COVID-19 testing remains a problem.

“Mostly employers or contractors or even project coordinators contributed to testing expenses, but lately contractors haven’t been paying the cost,” he said.

Construction workers risk infection inside their housing, where safety protocols are not always observed, Mr. Tanjusay said, adding that personal protective equipment is also viewed as a hindrance by those who need to do heavy lifting.

The industry had been suffering from a shortage of skilled workers even before the pandemic, the PCA said in an e-mail in February, and called staffing a continuing challenge, particularly with movement restrictions in place.

“Skilled labor shortages are also driven by the inability or difficulty to return to Manila from the provinces, and this also holds true for other provincial centers,” PCA President Will Decena said.

“We are also seeing a number of workers unemployed as a result of the slowdown in private construction investment.”

Residential construction, for example, declined last year because of delays caused by the pandemic. Completed units fell 70% in 2020, real estate professional services company Colliers Philippines said in a report.

The construction safety official maintains that health protocols are doable for the industry, especially since face masks have long been used in construction, while social distancing can be implemented with proper organization of the jobsite.

Mr. Tanjusay said to attract more interest in construction work, compensation must improve and workers in the industry must be given priority for vaccines.

“The government should increase the minimum wage rate and vaccinate the workers,” he said. “To get the economy going, they should be prioritized for the vaccine. When construction sites open, the supply chain comes back to life.”

While the vaccination program is now on-going, essential workers under the A4 category are not yet being inoculated.

Mr. Gorayeb said that the government should contact construction workers in the provinces to give them information on how to return to their places of work.

The recovery of private sector construction could start in the last quarter of 2021 at the earliest, PCA projected, noting that the government roadmap plans for a 7.1 million-strong construction workforce by 2030.

“This will be a make-or-break year for contractors who carry most of the project risk, especially the small and medium-sized ones,” PCA’s Mr. Decena said.

“We need to support the contractors in dealing with the risks and challenges to carrying out their work, so they can evolve, rather than go extinct.”

WandaVision rules at MTV Movie and TV Awards

(L-R) Elizabeth Olsen and Kathryn Hahn accept the Best Show award for ‘WandaVision’ onstage during the 2021 MTV Movie & TV Awards at the Hollywood Palladium on May 16, 2021 in Los Angeles, California. — MTV MOVIE AND TV AWARDS/GETTY IMAGES

MARVEL comics spinoff WandaVision dominated the MTV Movie and TV Awards on Sunday, while Scarlett Johansson and Sacha Baron Cohen got special awards for their contributions to the film industry.

Chadwick Boseman received a posthumous award, for best performance in a movie, for his final film, the jazz period drama Ma Raineys Black Bottom. The Black Panther actor, 43, died in Aug. 2020 of colon cancer. ‘’

“His impact is everlasting and we are eternally grateful for the way his presence and his art has changed the world. We love you and miss you,” said Black-ish actress Yara Shahidi, accepting the award on Mr. Boseman’s behalf.

WandaVision, the Disney+ series that gives starring roles to supporting superhero characters Wanda Maximoff and Vision, was chosen best TV show in the fan-voted awards, while Elizabeth Olson won for best performance for her portrayal of the lead character Wanda.

Kathryn Hahn took home the golden popcorn statuette for best villain for her role as nosy neighbor Agatha in WandaVision, which also won the popular best fight trophy for a battle between Agatha and Wanda.

Black Widow star Ms. Johansson was honored with MTV’s Generation Award in recognition of her Hollywood career.

In a video message, Ms. Johansson thanked her fans for their support. “I realize what an absolute gift it is to be able to have the opportunity to do what I love,” she said.

Mr. Baron Cohen appeared as his outrageous characters Borat, Bruno, the Dictator and Ali G., as well as himself, to accept the Comedic Genius award presented by Hollywood producer, Seth Rogen, who called the British actor and writer “the most fearless performer I have ever known.”

Leslie Jones hosted the show in Los Angeles before a small, COVID-tested and mostly unmasked live audience and a larger audience on huge video screens.

Elsewhere, Asian-American young adult romance To All the Boys: Always and Forever, was chosen best movie, while British actor Rege-Jean Page won for his breakthrough performance in the hit TV romantic series Bridgerton.

MTV’s awards for reality shows will be handed out in a separate ceremony to be broadcast on Monday night. — Reuters

49 QC subdivision lots up for public e-bidding

FORTY-NINE subdivision lots in the Tivoli Royale Subdivision in Barangay Batasan Hills, Quezon City will be offered through an electronic public bidding (e-bidding) on May 28, the Philippine Deposit Insurance Corporation (PDIC) said.

The PDIC will accept online bids from direct buyers who register at the e-bidding portal https://assetsforsale.pdic.gov.ph.

Online bids may be placed from 9 a.m. on May 27 to 1 p.m. on May 28. The e-bidding portal may also be accessed on the PDIC website by clicking on the “assets for sale” icon.

Up for auction are 10 vacant lots, sizes ranging from 300 to 1,000 square meters (sq.m.), with a minimum disposal price starting at P21.0 million.

Ten lots with improvements range from 259 to 424 sq.m. are also being auctioned off, with minimum disposal price starting at P18.0 million.

The PDIC said the aggregate minimum disposal price for the properties is at P1.3 billion.

“Five of these properties have issues on shape and size of the lots which have been affected by re-blocking or encroachment, with portions of some lots becoming part of common areas or road lot,” the PDIC said, emphasizing that the bidders should conduct due diligence on the properties.

Cebu Landmasters reports 25% profit increase to nearly P714M

PROPERTY developer Cebu Landmasters, Inc. (CLI) said it delivered “robust growth” in the January-to-March period with P713.8 million generated in net income attributable to parent, 25% higher than the P572.23 million recorded in the same period last year.

In a statement on Monday, the company said its consolidated net income rose by 12% to P725.19 million from P648.52 million year on year.

Meanwhile, CLI’s topline for the quarter totaled P2.35 billion, 11% more than the P2.11 billion from a year ago.

“Our revenues were driven by construction progress and robust sales. Demand continues to be underserved here in the Vis-Min (Visayas-Mindanao), we cannot stress this enough,” Beauregard Grant L. Cheng, chief finance officer of CLI, said during the company’s briefing with analysts and investors on Monday.

For the period, the company launched three projects worth P4.9 billion.

Reservation sales for the period grew by 17% year on year to P3.3 billion, 66% of which was from the company’s Garden Series and 33% was from its economic housing brand Casa Mira.

The company said it usually sells out 90% of its projects within 12 to 18 months from launch.

“We are pleased that our teams in each of the cities we serve have stepped up to fill the pressing need for residential units that deliver quality, safety and security,” CLI Chief Operating Officer Jose Franco B. Soberano said.

CLI said it plans to launch P14-billion worth of projects this year.

Capital expenditure spending for the period amounted to P1.65 billion out of its budgeted P12 billion for 2021.

CLI said around 86.7% of this was spent on project development, while 12.7% was spent on land acquisition.

The company expects its growth momentum to “speed up” in the second half this year after its joint venture projects mature for revenue recognition.

On Monday, CLI shares at the stock market improved by 3.57% to P5.80 apiece from P5.60. — Keren Concepcion G. Valmonte

Gov’t fully awards Treasury bills as yields drop on inflation bets

BW FILE PHOTO

THE GOVERNMENT fully awarded the Treasury bills (T-bills) it offered on Monday as rates dipped amid lower inflation expectations.

The Bureau of the Treasury (BTr) raised P25 billion as planned via the T-bills on Monday, with total tenders reaching P83.705 billion, making the offer over three times oversubscribed. However, demand declined from the P97 billion in bids seen last week.

Broken down, the Treasury awarded the programmed P5 billion in 91-day T-bills as total bids reached P16.965 billion. The three-month papers fetched an average rate of 1.27%, a tad lower than the 1.278% logged in last week’s auction.

The BTr also borrowed P8 billion as planned via the 182-day debt papers after the tenor attracted P25.11 billion in tenders. The average rate of the six-month debt dipped to 1.54% from 1.549% previously.

Lastly, the government made a full P12-billion award of the 364-day instruments as demand reached P41.63 billion. The one-year T-bills were quoted at 1.81%, down by 1.9 basis points (bps) from last week’s rate of 1.829%.

The Treasury opened its tap facility to offer another P5 billion in 364-day papers to take advantage of the strong appetite for the tenor that caused its yield to drop.

At the secondary market, before Monday’s auction, the 91-, 182- and 364-day T-bills were quoted at 1.304%, 1.5447%, and 1.8504% respectively, based on the PHL Bloomberg Valuation Reference Rates published on the Philippine Dealing System’s website.

“[The auction saw] strong participation as rates marginally declined,” National Treasurer Rosalia V. de Leon told reporters in a Viber message after Monday’s auction.

Ms. De Leon attributed the decline in T-bill yields to investors’ preference for safe haven assets like government securities and central bank’s lower inflation forecast for 2021.

Meanwhile, a bond trader said by phone that the auction’s outcome was expected following the worse-than-expected drop in first-quarter gross domestic product (GDP) and the Bangko Sentral ng Pilipinas’ (BSP) decision to keep its accommodative stance to support the economy.

The BSP held its key interest rate at a record low for a fourth straight meeting on Wednesday as it continues to support the economy’s recovery from the pandemic.

The Monetary Board maintained the overnight reverse repurchase rate at its record low of low of 2%. Both the lending and deposit rates were also kept at 2.5% and 1.5%, respectively.

The central bank’s decision to keep rates steady came a day after release of disappointing first-quarter GDP data. For the first three months of 2021, economic output shrank by an annual 4.2%, keeping the economy in recession for a fifth consecutive quarter.

Meanwhile, at the same meeting, the BSP lowered its inflation outlook for this year to 3.9% from its previous estimate of 4.2%. This will put inflation back within the central bank’s 2-4% annual target. On the other hand, the 2022 forecast was raised to 3% from 2.8% previously.

On Tuesday, the BTr will auction off P35 billion in reissued seven-year Treasury bonds (T-bonds) with a remaining life of six years and 11 months.

The Treasury wants to raise P170 billion from the local bond market this month: P100 billion via weekly offerings of T-bills and P70 billion from T-bonds to be auctioned off fortnightly.

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

And the winner is…

PHOTO FROM MTV MOVIE AND TV AWARDS/GETTY IMAGES

THE 2021 MTV Movie & TV Awards aired live from the Palladium in Los Angeles on May 17. Comedienne and actress Leslie Jones hosted the show, which kicked off MTV’s two-night event celebrating film and television.

Below is the complete list of winners:

BEST MOVIE: To All the Boys: Always and Forever

BEST SHOW: WandaVision

BEST PERFORMANCE IN A MOVIE: Chadwick Boseman — Ma Rainey’s Black Bottom

BEST PERFORMANCE IN A SHOW: Elizabeth Olsen — WandaVision

BEST HERO: Anthony Mackie — The Falcon and the Winter Soldier

BEST KISS: Chase Stokes and Madelyn Cline — Outer Banks

BEST COMEDIC PERFORMANCE: Leslie Jones — Coming 2 America

BEST VILLAIN: Kathryn Hahn — WandaVision

BREAKTHROUGH PERFORMANCE: Regé-Jean Page — Bridgerton

BEST FIGHT: WandaVision — Wanda vs. Agatha

MOST FRIGHTENED PERFORMANCE: Victoria Pedretti — The Haunting of Bly Manor

BEST DUO: The Falcon and the Winter Soldier — Falcon (Anthony Mackie) & Winter Soldier (Sebastian Stan

BEST MUSICAL MOMENT (SOCIAL CATEGORY)
“Edge of Great” — Julie and the Phantoms

The two-night event will continue tomorrow when the inaugural MTV Movie & TV Awards: UNSCRIPTED, a first-of-its-kind celebration of all things reality television airs from the Palladium in Los Angeles. Hosted by comedian Nikki Glaser, the show will celebrate the best jaw-dropping, no-rules, drama-filled moments from our favorite reality shows.

Astra condominium brand launched in Laguna, Cavite

BRIA HOMES recently launched its mid-rise condominium developments in Calamba, Laguna and General Trias, Cavite.

In a statement, Bria Homes President Rizalito J. Rosales said the company sees an expanding market for its condominium brand Astra Vertical Villages in the two areas.

“Our vertical villages in Calamba and General Trias will fulfill the growing need for safe, secure communities that offer all the comforts of modern, urban living without breaking the bank,” he said.

Astra Vertical Villages are described as contemporary mid-rise condominium developments that offer affordability and accessibility for young professionals and small families.

The developments in Calamba and General Trias will offer 880 units in 11 buildings, with options for 237 parking lots.

A typical 24-square meter unit will have a bedroom, dining and kitchen area, living room, and toilet and bath.

Astra will have a communal clubhouse with a swimming pool and gym and function halls. It will also have green spaces and playgrounds. There will also be provisions for a school, a wet and dry market, and a food park within the Astra premises.