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Federal Land seeing higher demand for townships

FEDERAL LAND, Inc. said it continues to see increased demand for its township developments such as Metro Park in Pasay City and Grand Central Park in Bonifacio Global City amid the pandemic.

“After a year of extraordinary circumstances, Filipinos are now looking for more than just a good place to sleep in when it comes to finding their home,” Federal Land Executive Vice-President Catherine C. Ko said in a statement.

“The comfort they feel inside their homes needs to extend to the areas outside their doors, into what we now call the ‘outside world’ for Filipinos to feel safe and secure in their environment. This is how communities offer value for our residents — living in our communities has allowed our residents to continue with their lives with minimal disruption, in a mixed-use community where almost everything that they need is within reach.”

Lockdown restrictions have also emphasized the importance of having a home with adequate spaces for work and recreation.

Luxury residential development Grand Central Park offers spacious unit layouts and extra rooms that can be used as an office or classroom. Metro Park’s resort-inspired condominium residences offer alternative spaces to work-from-home and landscaped gardens for relaxation.

Ms. Ko said the developer implemented safety regulations in its malls and existing properties and upgraded its sanitation facilities in accordance with government guidelines.

Megawide bags ‘multiple contracts’ worth P26B for Suntrust project

MEGAWIDE Construction Corp. on Monday said it bagged “multiple” contracts amounting to P26.3 billion from Suntrust Home Developers, Inc. for its Westside City Resorts World project.

“The initial letters of award from Suntrust — totaling P6.3 billion — included initial works such as pile cap, excavation, and lateral support direct contract, worth P2.3 billion, and Site B main contract, including basement substructure, superstructure, and architectural builders works and finishes, amounting to P4 billion,” the listed engineering and construction company said in an e-mailed statement.

The company added that it was awarded a supplemental agreement amounting to P20 billion on Dec. 18 last year.

The agreement covers the management of nominated subcontractors for mechanical, electrical, plumbing, and fire protection (MEPF); interior design; and allied services of the Main Hotel Casino, including “additional architectural, structural and civil works.”

The project will be located at the Entertainment City Manila, a gaming and entertainment complex along Manila Bay.

“The project is expected to be completed within 30 months from start date,” Megawide said.

Suntrust is the Philippine unit of Hong Kong-listed Suncity Group Holdings Ltd.

“The requirements of Suncity, in terms of engineering excellence, quality workmanship, and speed to market, perfectly match Megawide’s expertise,” Megawide Chairman and Chief Executive Officer Edgar B. Saavedra said.

“Large-scale investments such as these are critical for our national economic recovery from the crisis caused by COVID-19 (coronavirus disease 2019),” he noted.

The company recently reported total revenues of P9.03 billion for the first nine months of 2020, down by 34% from the previous year’s P13.69 billion.

Its contract revenue went down by 30% to P7.41 billion. Revenue from airport operations decreased by 63% to P998.17 million, while the airport merchandising business also saw its revenue drop by 72% to P69.51 million.

The company’s nine-month revenue from terminal operations grew by 167% to P551.91 million.

Megawide shares closed 0.27% lower at P7.33 apiece on Monday. — Arjay L. Balinbin

Converge exploring new satellite technologies

LISTED internet service provider Converge ICT Solutions, Inc. on Monday said it is currently exploring latest satellite technologies to improve its services.

“The latest satellite technologies, including that of Space Exploration Technologies Corp. (SpaceX), are among those new technologies being explored by Converge to bring high-speed broadband to far-flung areas in the country,” Converge said in a statement.

The company issued the statement to clarify news reports that it was in talks with SpaceX for a partnership on broadband satellite services.

“Converge wishes to clarify that the company is always looking for new technologies to bring high-speed internet services to the broadest number of Filipinos,” it said.

“However, it is still very premature to talk about a possible partnership between Converge and SpaceX at this stage as suggested in the… news reports,” it added.

Converge is targeting to reach over 15 million or 55% of Philippine households by 2025.

The company recorded 6.1 million homes passed, as of December 2020, accounting for 25% of total households in the Philippines.

It recently reported an attributable net income of P2.19 billion for the first nine months of 2020, up 57.63% from P1.39 billion it earned in the same period in 2019.

Converge ICT shares closed 4.40% higher at P18.52 apiece on Monday. — Arjay L. Balinbin

Gov’t upsizes T-bill award as rates decline further

THE GOVERNMENT Hiked its award of Treasury bills on Monday as rates continued to drop on the back of strong demand from investors looking for higher yields. — BW FILE PHOTO

THE GOVERNMENT upsized the volume of Treasury bills (T-bills) it awarded for the seventh straight week on Monday as demand remained high despite faster inflation and as rates continued to drop.

The Bureau of the Treasury (BTr) raised P24 billion from its offer of T-bills on Monday, higher than the P20-billion program, after it accepted more non-competitive bids for the three-month and six-month papers. It also opened its tap facility to offer another P5 billion in one-year securities.

The BTr has made above-program awards of its weekly T-bill offers since the start of the year

Total bids for the T-bills hit P88.61 billion on Monday, making the offer more than four times oversubscribed. However, this was lower than the P95.35 billion in tenders seen for last week’s offering.

Broken down, the BTr awarded P7 billion in 91-day debt papers, higher than its plan to raise P5 billion, as tenders reached P17.45 billion. The three-month T-bills fetched an average rate of 0.845%, down by 0.1 basis point (bp) from the 0.846% quoted last week.

The Treasury also borrowed P7 billion from the 182-day T-bills against the P5-billion program after bids hit P30.05 billion. The average rate of the six-month papers went down by 4.8 bps to 1.046% from the previous week’s rate of 1.094%.

Lastly, for the 364-day securities, the government made a full P10-billion award as it received tenders worth P41.11 billion. The average rate of the one-year papers stood at 1.416%, 3 bps lower than the 1.446% seen last week.

National Treasurer Rosalia V. de Leon said the oversubscription seen for Monday’s offering showed the market is still flush with cash and that investors remain interested in putting their money in government debt despite the uptick in inflation.

“Liquidity continues to overflow. Market sees a spike in prices as temporary, with supply constraints and inflation dialing back to the middle of the target next year,” Ms. De Leon said.

Headline inflation quickened to 4.2% in January from the 3.5% logged in December, hitting a two-year high as food and transport prices continued to increase.

Despite this, the central bank on Thursday kept benchmark interest rates at record lows to support the Philippine economy’s recovery from the coronavirus pandemic. In its first policy setting for the year, the Bangko Sentral ng Pilipinas’ (BSP) Monetary Board maintained the overnight reverse repurchase rate at a record low of 2%. The rates on its lending and deposit facilities were likewise kept at 2.5% and 1.5%, respectively.

However, the BSP raised its average inflation forecast for the year to 4%, the upper end of its 2-4% target for 2021, from 3.2% previously. Meanwhile, it lowered its inflation forecast for next year to 2.7% from 2.9% previously.

Meanwhile, a bond trader said the bids seen for Monday’s T-bill offering were largely driven by end-user demand as investors search for yields higher than time deposit rates.

“Mostly invested in T-bills are funds intended for savings/time deposit which is at 0.5% per annum,” the trader said via Viber.

The government is also offering three-year retail Treasury bonds (RTBs) until March 4, unless closed earlier. The bonds carry a rate of 2.375% and are being sold for a minimum investment of P5,000.  During the rate-setting auction last week, the BTr sold an initial P221.218 billion in RTBs.

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

Are you feeling lucky?

After the disaster that was 2020, one feng shui consultant takes a risk to predict which signs will be lucky — or not — in the Year of the Metal Ox.

WE’RE ALL still reeling a bit from 2020 (there is still a pandemic, after all), so it’s best to know what’s in store for all of us for 2021.

Resorts World Manila got the help of Feng Shui consultant Jean Yu Chua to predict what’s up for 2021, the Year of the Metal Ox. “The character is very mild, and also, you can see the character of the Ox is very hardworking. Very determined, focused on work and responsibility that goes to them,” said Ms. Chua during a webinar on the eve of the Lunar New Year, which started on Feb. 3 but was officially celebrated on Feb. 12.

“In terms of relationships and stability, we can trust the Metal Ox.”

“It’s a big transformation for all of us; to get new ideas,” she said in a mix of Filipino and English. “We’ll be very innovative this year: anything about digital marketing or online business.” She does warn that one can’t rush into things, and to have patience to seek and wait for better opportunities.

“This year is more about searching.”

Ms. Chua then gave a rundown of the luck prospects of each sign, placing them in groups based on their luck this year.

NOT-SO-LUCKY
Ox — 1925, 1937, 1949, 1961, 1973, 1985, 1997

It may come as a surprise to some that the people born under the sign matching the current year will face problems. “When it’s your year, you have challenging stars where all eyes are on you,” said Ms. Chua. All the ideas and decisions are on your shoulders; and all their attention will be on you. “You can feel the pressure and stress on that part,” she said. When it comes to the Ox’s love life, they should avoid quarrels and negative thinking, and be more open to communication; avoiding secrecy. For the Ox’s career, while there are opportunities present, they must be seized with proper timing and preparation.

Sheep — 1931, 1943, 1955, 1967, 1979, 1991

Due to its status as one of the more unlucky signs this year, Ms. Chua advises against aggressive decision-making by those born in a Sheep year. The Sheep and Ox are in conflict, and in ideas and communication Sheep have may not be in favor of everyone. She advises avoiding quarrels and misunderstandings, and to practice openness and to prevent hypersensitivity. She advises they focus on goals and work towards them, but not to expect too much in return. There might be unexpected changes in finances, so a Sheep should take care when investing.

Dog — 1934, 1946, 1958, 1970, 1982, 1994

The Dog can expect conflicts when it comes to health problems and lowered energy and vitality. She cites the stomach, the digestive system, the head, and the immune system to be problem areas. Therefore, the Dog should plan ahead for quality time, and take lots of breaks.

Horse — 1930, 1942, 1954,1966, 1978, 1990

Bad luck from 2020 might carry over to 2021; though there are some lucky stars present for this sign. A conflict star hurts decision-making skills, which might bring on indecision due to a lack of focus. She advises level-headedness in investments and decisions, though there are good chances for better relationships this year.

Dragon — 1928, 1940, 1952, 1964, 1976, 1988, 2000

Inauspicious stars affect the Dragon’s finances, so Ms. Chua advises against aggressive expansion and investments. A Dragon must budget for essentials, and not to be so trusting with their personal information.

LEADER GROUP
These signs can expect more luck due to their association with the Ox.

Rabbit — 1927, 1939, 1951, 1963, 1975, 1987, 1999

The Rabbit will experience a moderately good year due to a good star. That star allows for a Rabbit’s learning skills to shine, allowing one to exert influence over others to work together through logic and communication. This might be a good year for networking and establishing communications. The Romance Star is with the Rabbit this year, but she advises against being over-confident and too trustful. This should warn the Rabbit against third parties in relationships and other external conflicts. Otherwise, Rabbits may enjoy good relationships with families and others, as long as they set healthy boundaries.

Pig — 1935, 1947, 1959, 1971, 1983, 1995

Those born in a Pig year should make use of their ideas, suggestions, and influence, due to an opportunity for a leadership role. There are good opportunities to excel in previously missed or new opportunities. A Traveling Star presents new opportunities for creative ideas and business — think franchising and outsourcing. Also, it literally means a likelihood of travel; an opportunity to meet new people.

Rat — 1924, 1936, 1948, 1960, 1972, 1984, 1996

The Rat should try to overcome their fears from 2020, as well as not bring those conflicts to the new year. The Ox and Rat are friends, signifying good luck in partnerships. She advises against negative thinking, due to the stress it might bring the Rat.

WEALTH EXPLORER GROUP
These signs are the luckiest this year, with many opportunities; though some signs are blessed with luck this year to prepare for the bad next year.

Monkey — 1932, 1944, 1956, 1968, 1980, 1992

Due to the presence of a Happiness Star, the Monkey can look for the opportunity to find the best business or path for them this year. Her suggestions include: strategy, online businesses, systems, technology, and design. This is also a good year for upgrades. As always, she advises against rushing into things, especially since next year would be a year of conflict for them.

Rooster — 1933, 1945, 1957, 1969, 1981, 1993

The Rooster is one of the luckiest signs this year due to its affinity with the Ox. Mentors can help with suggestions, influence, and ideas. There are opportunities for savings, acquisition of assets, and leadership roles. This is a year for reviewing and improving upon old projects, but the Rooster should take heed of bad intentions and untrustworthy people.

Tiger — 1926, 1938, 1950, 1962, 1974, 1986, 1998

The Tiger and Ox are friends in business, so there’s luck in that field, especially in its social aspect (think networking). A Tiger should pounce on opportunities for money and investments, for they become seeds for future benefits — they will be needed for next year. This is a year to show off and develop talents.

Snake — 1929, 1941, 1953, 1965, 1977, 1989

Also a friend of the Ox, the Snake faces small successes and achievements. Outstanding performance in the workplace will lead to appreciation and recognition, and might allow for a little influence. The Snake should avoid overspending. — JL Garcia

Tagaytay Highlands introduces virtual turnover process

TAGAYTAY HIGHLANDS is adapting to the new normal by turning over units virtually through video communications applications.

“The virtual turnover procedure is a contactless process in which Tagaytay Highlands officially hands over the property to the buyer in real-time via Google Meet or Zoom. A Customer Service Officer guides the client step-by-step — from property inspection until signing of acceptance documents,” the developer said in a statement.

Clients are briefed about turnover documents, house construction and move-in guidelines during the turnover orientation. Turnover forms are also signed digitally by clients.

Tagaytay Highlands said they coordinate with the client on the turnover schedule.

“When the official turnover is done, the developer endorses the client to the Homeowners Association to further familiarize the client not only with the property, but also with the Tagaytay Highlands community of their purchased property,” the company said.

Tagaytay Highlands is a leisure development of the SM Group of Companies.

Iñigo Pascual releases his version of Air Supply’s ‘All Out of Love’

INTERNATIONAL rock duo Air Supply, composed of Graham Russell and Russell Hitchcock, hailed Iñigo Pascual and Moophs’ remake of their classic hit “All Out Of Love” for its “great production and sound.”

Mr. Russell joked during a press conference on Feb. 11 (via Zoom) that Mr. Pascual is bound to “sing the song for the rest of his career.”

The song is the latest collaboration between Mr. Pascual and Moophs, who were also behind the dancehall-pop tune “Always,” which became part of Apple Music’s “The 100 Best Songs of 2020.” The two artists also led the island pop track “Catching Feelings,” which has already garnered over 10 million streams on Spotify and over 100K dance challenge entries across various social media platforms.

“All Out Of Love” is just the first in Tarsier Records’ series of Air Supply remakes whose release will be spread out this 2021.

“You can expect a few more remakes by different artists and then we’ll compile them into an album at the end of the year,” Moophs shared. — ZBC

Alorica sets 10-15% revenue growth target

OUTSOURCING firm Alorica Philippines is expecting its revenues to grow 10-15% this year as demand from the retail and logistics industries requiring more customer service assistance swells.

This target outpaces the overall industry target of a 3.2-5.5% revenue compound annual growth rate (CAGR) up to 2022, as reported by industry group Information Technology and Business Process Association of the Philippines (IBPAP).

“There’s a lot of growth that we experience in other industries. To give an example, retail, logistics, health care — from customer service to tech support to online ordering,” Alorica Senior Vice-President Jojo Uligan said at an interview with ANC on Monday.

“The spike of people ordering online and having it delivered — we experience a lot of those as well. The growth will be coming from there.”

Mr. Uligan has not yet responded to requests for comparative growth rates from previous years.

Around 70-80% of Alorica employees work from home, Mr. Uligan said, noting that the measures set during the lockdown improved productivity.

The company will likely permanently retain a percentage of its workforce under WFH, depending on their client-requirements, he added.

IBPAP cut its revenue growth rate to reach $27.88-$29.09 billion in 2022 from the 3.5-7.5% CAGR forecast set in 2019.

Employment CAGR was cut to 2.7-5% from the previous 3-7% goal, which would mean 1.37-1.43 million full-time employees, or that the industry plans to add 130,000 jobs between 2021-2022.

Outsourcing companies that expected contraction last year represented four percent of the total employee headcount of IBPAP’s polled companies, which means that smaller firms with fewer contracts were hit harder by the effects of the pandemic on the economy.

Alorica Philippines employs 43,000 people. — Jenina P. Ibañez

BSP bills undersubscribed on RTBs

THE CENTRAL BANK sold P99.05 billion in one-month securities on Monday, below its program due to the government’s ongoing offer of retail Treasury bonds (RTBs) and expectations of quicker inflation.

Demand for the 28-day bills offered by the Bangko Sentral ng Pilipinas (BSP) on Monday was lower than the P100 billion on the auction block and the P148.81 billion in bids seen on Feb. 9. The auction was suspended last Friday in view of the Lunar New Year holiday.

This is the first time the BSP bills were undersubscribed since the weekly offerings started in September.

Accepted yields for the one-month securities were seen from 1.603% to 2%, a wider band compared with the 1.6% to 1.6235% logged in the previous auction.

With this, the average rate for the papers settled at 1.6402%, higher by 2.78 basis points than the 1.6124% recorded on Feb. 5.

“The very slight undersubscription in the 28-day bills auction reflects market participants preference for shorter tenors in view of the Bureau of the Treasury’s scheduled settlement for the retail Treasury bonds on March 9,” BSP Deputy Governor Francisco G. Dakila, Jr. said in a statement.

The government last week sold an initial P221.218 billion in three-year retail Treasury bonds on strong investor demand due to robust liquidity in the market.

Bids for the retail papers maturing in 2024 offered by the Bureau of the Treasury at the rate-setting auction for the bonds reached P284.183 billion, well above the initial plan to raise at least P30 billion.

The three-year retail bonds fetched a coupon rate of 2.375%. The government is set to sell the RTBs until March 4 but can close the offer period earlier.

The 28-day BSP bills and term deposits are tools used by the central bank to gather excess liquidity in the financial system and to better guide short-term market interest rates.

Aside from the RTB offering, expectations of faster inflation may have also led to the undersubscription and the higher yields seen for the BSP’s 28-day securities, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said.

Headline inflation spiked to 4.2% in January from 3.5% in December due to the continued increase in food and pump prices. The central bank last week raised its average inflation forecast for the year to 4% (from 3.2%), citing upside pressures from food, oil, and non-oil price hikes.

Even so, the central bank kept its policy settings steady at its review last week, maintaining the rates on its overnight reverse repurchase, lending, and deposit facilities at 2%, 2.5%, and 1.5%, respectively. — L.W.T. Noble

Developer turns over Cedar Town units

CITIGLOBAL REALTY and Development, Inc. began turning over the first batch of Cedar Tower’s condotel units to investors.

Cedar Tower is one of the towers under the Tagaytay Clifton Resort Suites (TCRS) project.

“The completion of TCRS is still underway and promises to provide deluxe amenities at an affordable price,” CitiGlobal said.

The TCRS project will feature a clubhouse, gym, library, swimming pool, and other leisure facilities.

Entertainment News (02/16/21)

Love and Revolution at CCP Arthouse Cinema

WHAT better way to celebrate the month of love and arts than the screenings of films and documentaries from the archives of Cinemalaya and Gawad Alternatibo, as well as some well-loved Philippine cinema classics? The Cultural Center of the Philippines (CCP) Arthouse Cinema’s “Of Love and Revolutions,” features stories of love and revolutions in different types and forms daily until Feb. 26, at 3 p.m., via the CCP Vimeo Channel. All screenings are free. To be shown is Ligaw Liham, directed by Jay Abello and Manny Montelibano, about the town simpleton who falls in love with a beautiful married woman. Love for the country rules in Signos, Sister Stella L., EDSA People Power: The Philippine Experience, Revolutions Happen Like Refrains in a Song, and In the Middle of the Night. Mike De Leon’s documentary Signos featuring press freedom icon Joe Burgos, nationalist Jose “Pepe” W. Diokno, director Lino Brocka, human rights lawyer Rene Saguisag, Manila Archbishop Cardinal Sin, and sectoral representatives from the peasants, labor unions, and religious groups who spoke truth to power during the dark years of the 1970s under a dictator. Most of the personalities shown and interviewed in Signos became the inspiration behind the characters portrayed in the acclaimed film Sister Stella L., starring Vilma Santos and also directed by Mike De Leon. It tells the story of the social and political awakening of a nun as she becomes involved in a labor strike. EDSA People Power: The Philippine Experience is a series of video clips shot during the People Power Revolution stitched together in remembrance of the role of the people in toppling a dictator.  It was directed by the “Filipino People” and Eva Mari Salvador. Revolutions Happen Like Refrains in a Song is director Nick Deocampo’s love song about the historical struggle of the Filipino people that led to the 1986 People Power Revolution. The documentary chronicles the filmmaker’s personal history as it intersects with the social upheaval of the 20 years climaxing in the 1986 People’s Power Revolution. In the Middle of the Night puts the spotlight on President Duterte’s War on Drugs. Awarded first prize during the 2017 Gawad Alternatibo, director Bryan Kristoffer Brazil documents the different yet similar cases of brutal killings in the Philippines that have become so rampant and their aftermath. To watch the films, go to vimeo.com/ondemand/ofloveandrevolutions and use the promo code RADICALOVE. For updates, follow the official CCP and CCP Media Arts Division Facebook page.

M Lhullier carries streaming platform POPTV

KNOWN for its remittance service, M Lhuillier has partnered with the newest streaming platform POPTV. POPTV subscriptions are now available in more than 2,600 M Lhuillier branches nationwide. To join, the customer should go to a M Lhuillier branch, fill out the form, pay, and wait for their subscription to be activated. They may also opt to use the ML Wallet App. Log in, go to Bills Payment, and select POPTV. Fill out the details and purchase the subscription using the ML wallet. POPTV carries movies and series that include local blockbusters from ABS-CBN, VIVA, Regal, and TBA Studios, as well as tagalized K-dramas, BL series, animes, Asian movies, and many more. To download the streaming app, search for POPTV PINAS on Google Play, Huawei App Gallery, and Apple App Store. Users can avail its P49 subscription good for 10 days or P99 for 30 days. For more information visit facebook.com/poptvph or visit www.poptv.ph.

YouTube stars in Sponge Cola’s music video

YOUTUBE content creators Agassi Ching and Jai Asuncion are featured in Sponge Cola’s latest music video of “Siguro Nga.” The onscreen and offscreen love team amassed a fandom in social media with pranks, viral videos, and challenges. In the music video, they portray a fictional romantic couple in disarray. The music video also comes with a meta-karaoke version of the track that allows fans to sing and engage with the narrative. Inspired by the hit K-drama, StartUp, Sponge Cola’s “Siguro Nga” was written by Yael Yuzon as a tribute to one of its characters, Han Ji-Pyeong. Its lyric video features  footage from Seoul, South Korea that includes locations from the series. The music video of “Siguro Nga” is out now on YouTube.

Ben&Ben’s releases new song

FILIPINO folk-pop group Ben&Ben officially dropped a new single called “Inevitable” on Valentine’s Day via Sony Music. Inspired by recent events surrounding the band’s lives, their latest song encourages listeners and music fans to live in the moment freely and truthfully without the need to succumb to expectations. It was written by Paolo Benjamin (lead vocals and acoustic guitars) during an afternoon run by the beach near where Ben&Ben live. Production-wise, the song retains the sonic hallmarks of the group’s prior releases, while employing experiments in texture and tone, described in a release as “world music-meets-acid jazz.” The song eventually made it as the official theme of Smart Communications’ newest commercial ad featuring Hyun Bin and Son Ye Jin, stars of the popular Korean drama, Crash Landing on You. Ben&Ben’s “Inevitable” is out now all digital music platforms worldwide via Sony Music.

Balik sa Bohol Sale

IN A BID to reinvigorate the tourism industry of Bohol, several hotels and resorts are holding the Balik sa Bohol: Bohol Online Sale from Feb. 21 to March 14. In order lure tourists back, massive price drops (by as much as 70%) in rooms, food, tours and related services will be offered by resorts, hotels, and tour operators during the sale, which is organized by the private sector and supported by the Department of Tourism (DoT), the Tourism Promotions Board, and the Provincial Government of Bohol. The participating hotels are: the Amarela Resort, the Amorita Resort, Be Grand Hotel, the Bohol Bee Farm, The Bellevue Resort, Best Western Plus The Ivywall Panglao Resort, Bluewater Panglao Beach Resort, the Bohol Beach Club, the Chocolate Hills Adventure Park, The Acacia Glamping, Donatela Resort and Sanctuary, the Loboc River Resort, Mithi Resort and Spa, South Palms Resorts Panglao, Angels’ Wings Tours and Travel, Baclayon Travel & Tours, Bohol Holidays Travel & Tours, Inc., Coordinates Tours and Travel, and Travel Village. The sale platform is powered by Atlantis and is co-sponsored by Cebu Pacific Air. For more information, contact Margie Munsayac at margie.munsayac@bluewater.com.ph.

2 new songs from Zack Tabuldo

ASIAN television has been the inspiration for Zack Tabuldo’s two latest songs. His newest single “Iyong Iyo” — out now on all digital platforms worldwide via MCA Music, Inc. — is loosely based on the K-drama Hey Ghost, Let’s Fight, in which an exorcist falls in love with a wandering spirit. In “Iyong Iyo,” the singer gives everything to his love — literal possession. Meanwhile, “Elizabeth” — which is set to be released in two weeks — is a bright, 1980s pop-inspired anthem inspired by the original Thai song for the hit comedy, Let’s Fight Ghost. “Iyong-iyo” is currently available on all music streaming sites while “Elizabeth” is set to drop on Feb. 26.

Rally of Hope concert reaches 63 nations

MILLIONS of people from 63 nations convened online on Feb. 6 to call for the healing of the nation and the world at the Rally of Hope Philippines concert, sponsored by the Universal Peace Federation, (UPF), an NGO holding general consultative status with the United Nations (UN). Dubbed as “One Million People Praying for the Healing of the Nation and the World,” the event was telecast on PTV 4 and was simultaneously live-streamed on radio, cable TV stations in different parts of the nation and in countries as far as Fiji, and other social media platforms. The event was an online interfaith gathering to collectively pray for the healing of the world from the coronavirus disease 2019 (COVID-19) pandemic, the healing of Mother Earth from the ruins of climate change, and the healing from social divisions. Some of the Filipino performers at the rally were Jed Madela, Gerphil Flores, 4th Impact,  Reo Brothers, FCPC Baliktanaw, and the Philippine Meistersingers.

STI Holdings net income down 40%

TANCO-led STI Education Systems Holdings, Inc. recorded a P90.32-million attributable net income for the October-December period of its fiscal year that ends on June 30.

In a disclosure to the stock exchange on Monday, the listed private school operator disclosed that its net income is lower by 40.4% than the P151.65 million it posted in the similar period in 2019 due to fewer revenues.

STI Holdings said its total revenues during the three-month period fell 22.2% to P632.42 million against P813.23 million in 2019.

For the first six months of its fiscal year, STI Holdings recorded an attributable net loss of P112.32 million, a turnaround from the P307.67-million income it had in 2019.

Its revenues during the period dropped 42.3% to P929.06 million against P1.61 billion a year ago.

“The shift in the start of the school year for the senior high school (SHS) and tertiary programs, and the lower number of enrollees brought about by the impact of and restrictions implemented due to the coronavirus disease 2019 (COVID-19) pandemic resulted in the decrease in revenues,” the disclosure said.

“All classes in STI Education Services Group, Inc. (STI ESG) and STI West Negros University, Inc. (STI WNU) started on Sept. 7, 2020, while SHS classes in iACADEMY started on Aug. 24, 2020 and tertiary classes started on Aug. 28, 2020,” it added.

According to the disclosure, the total enrollees of schools under STI Holdings reached 70,223 students for school year 2020-2021, down 16.4% compared to 83,967 students in the previous school year.

To recall, STI changed its fiscal year and now begins every July 1 of each year and ends on June 30 of the next year, in an effort to align its academic cycle with the academic calendars of public and private education institutions.

On Monday, STI Holdings shares at the stock exchange rose 1.22% or P0.005 to close at P0.415 apiece.

CEU NET INCOME DIPS 17%
Meanwhile, Centro Escolar University (CEU) reported a P109.41-million net income for the October-to-December period, or the third quarter of its fiscal year that ends in March due to lower revenues.

In a separate disclosure on Monday, the listed university said its net income for the period is 17% lower than the P131.76-million net income it had in 2019.

Its revenues for the three-month period fell 22.6% to P367.52 million against P474.60 million in 2019.

For the first nine months of its fiscal year, CEU recorded a P188.05 million net income, reversing its net loss of P14.57 million in the previous year.

Revenues for the period declined 6% to P910.32 million, from P968.36 million in 2019.

CEU stocks fell 1.81% or 12 centavos to end at P6.52 each on Monday. — Revin Mikhael D. Ochave

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