Full MMFF lineup includes films from canceled summer festival

November 27, 2020 | 12:03 am

THE 10 official full-length films that will be featured in the wholly digital version of the Metro Manila Film Festival (MMFF) have been named and will include the typical mix of fantasy, comedy, romance, and drama that the festival is known, as well as some of the official entries of the canceled Summer MMFF.

“This year is not like the other years because of the pandemic… but it’s not enough reason not to hold the MMFF,” Danilo Lim, chairman of the Metropolitan Manila Development Authority (MMDA) which organizes the MMFF, said in the vernacular in a Nov. 24 digital press conference.

“Christmas won’t be complete without the Metropolitan Manila Film Festival. The festival has long been part of the tradition: a time where families get together, watch, and enjoy,” he said of the importance of the festival.

And thus the move to digital using the Filipino streaming service Upstream and GMovies, both of which have also been used by another local film festival, the Quezon City International Film Festival or QCinema.

Earlier in the year, the film festival named the first four entries based script submissions, but because of the coronavirus disease 2019 (COVID-19) quarantine protocols in place which made it very difficult to produce films in a pandemic, three of those first entries had to back out: Ang Mga Kaibigan ni Mama Susan, Praybeyt Benjamin 3, and The Exorcism of My Siszums.

Only fantasy film Magikland, directed by Christian Acuna and produced by Lore Reyes and the late Peque Gallaga, managed to finish production. The film, which took three years to make according to Mr. Reyes in the press conference, is meant to complete the film cycle which is made up of the two other fantasy films created by Mr. Gallaga and Mr. Reyes — Magic Temple (1996) and Magic Kingdom (1997).

“Bringing this film to life will hopefully be direk Peque’s legacy,” Mr. Acuna said in the same press conference.

Four official film entries from the canceled Summer MMFF — it was supposed to be held in April — made the cut and are now part of the Christmas MMFF. These are the family drama Coming Home by Adolfo Alix, Jr., about a sick OFW who comes home to his estranged family; an LGBT-themed drama, Isa Pang Bahaghari by Joel Lamangan, about a man coming home to his family and enlisting the help of his gay best friend so his family will accept him; horror film The Missing by Easy Ferrer, about a renovation gone wrong set in Saga, Japan; and a romantic drama, Tagpuan by McArthur Alejandre, about a the love story of an estranged husband and wife.

The Missing, according to Mr. Ferrer, presents a “different way of showing horror films” as it combines Filipino horror stereotypes with Japanese horror elements like those found in Ring (1998) and Ju-on: The Grudge (2002).

Noel Ferrer, the MMFF spokesperson, clarified that the films which were carried over from the Summer MMFF were not intended to replace the films that backed out and that the films were re-evaluated using the following criteria: artistic excellence (40%), commercial appeal (40%), Filipino cultural sensibility (10%), and global appeal (10%).

The other entries in the festival are: the biopic film Suarez: the Healing Priest about the life of Fr. Fernando Suarez, directed by Joven Tan; the comedy Mang Kepweng: Ang Lihim ng Bandanang Itim by Topel Lee, a follow-up to the 2017 film Mang Kepweng; another comedy, Pakboys Takusa by Al Tantay, featuring a gang of middle-aged playboys; Boys’ Love film The Boy Foretold by the Stars by Dolly Dulu, about a high school student falling in love with a classmate who recently got his heart broken; and the drama Fangirl by Antoinette Jadaone, about a young fan forming a relationship with her idol.

Fangirl was described by film critics as Ms. Jadaone’s bravest film to date as the film revolves around the theme: “Don’t meet your heroes,” and how fans typically idealize their idols.

The MMFF, the country’s largest film festival, is organized by the MMDA and runs from Dec. 25 until the first week of January. During this period, only Filipino films are screened in theaters nationwide. Recent grosses of the festival have amounted to P1 billion. — Zsarlene B. Chua

MRC Allied transforms into holding firm; structure stays

November 27, 2020 | 12:03 am

FORMER property development business MRC Allied, Inc. is now operating as a holding company, the firm said in a disclosure to the local bourse on Wednesday.

MRC Allied will now be “carrying on the business of a holding company for that purpose either in its name or in the name of any other corporation,” the company said in a regulatory filing.

It said that it would still “purchase or otherwise acquire and own, hold, use, develop, subdivide, manage, operate, lease, lease out, sell assign, transfer, mortgage, pledge, exchange otherwise dispose of real property and personal property or business of every kind and description.”

These were included as amendments in its articles of incorporation.

The firm also added additional provisions on secondary purposes, such as acting as a guarantor or co-obligor of any person, corporation or entities that it may have direct or indirect interest in, and borrowing or raising money by issuing bonds, among others.

“MRC will continue its usual business. It will continue its usual business operations and no change in its capital structure,” MRC Allied said.

Since it has become a holding company, an additional company might be added as its subsidiary in the future, it added.

MRC Allied’s wholly-owned units include Menlo Renewable Energy Corp., MRC Tampakan Mining Corp., MRC Surigao Mines, Inc., and Makrubber Corp.

Shares in MRC Allied on Thursday decreased by 3.57% to finish at P0.54 apiece. — Angelica Y. Yang

Security Bank sees PHL GDP contracting by 9.9%

November 27, 2020 | 12:02 am

SECURITY BANK Corp. sees the economy shrinking by 9.9% this year due to slower business activity and with a vaccine against the coronavirus disease 2019 (COVID-19) still under development.

“Uptick and renewed lockdowns worldwide provide downside risks. We do expect some additional activity to pick up in the next quarter,” Security Bank Executive Vice President and Treasurer Raul Martin A. Pedro said during the bank’s economic forum on Thursday.

“Heading to the fourth quarter, it will be better but not significantly better. If we look at nominal levels of economic activity, we would be hovering around P4.1-4.3 trillion in terms of GDP (gross domestic product),” he added.

The bank’s new forecast is worse than its projection of a 7.7% contraction in September. The government expects the economy to shrink by 4.5%-6.6% this year.

The Philippine economy remained in recession as GDP declined by 11.5% in the third quarter, a reversal of the 6.3% expansion recorded in the same quarter last year but easing from the record 16.9% plunge in the previous three-month period. This brought the year-to-date average to a contraction of 10%.

Security Bank said it expects the government to spend more efficiently to further accelerate business activity amid the pandemic.

“Fiscal support and improved mobility is imperative to support growth recovery. But the BSP (Bangko Sentral ng Pilipinas) is left to do heavy lifting,” the bank said.

The BSP has fired off several stimulus measures to help boost the economy. Last week, the Monetary Board trimmed the rates on the BSP’s overnight reverse repurchase, lending, and deposit facilities by another 25 basis points (bps) to 2%, 2.5%, and 1.5%, respectively. This brought cumulative cuts for the year to 200 bps.

Meanwhile, the government has provided a fiscal boost by way of two economic stimulus laws to aid businesses and sectors hit by the pandemic: Republic Act (RA) No. 11469, or the Bayanihan to Heal as One Act and RA 11494 or the Bayanihan to Recover as One Act (Bayanihan II).

However, Security Bank said these have been insufficient in stoking economic activity as most businesses are only recouping the losses they sustained in the past month.

“Bayanihan II per se has no additional impact because it only applies to current loans. Therefore, it has not changed the equation for the banks,” Mr. Pedro said.

“In a growing economy, you would expect that it will be importing a lot for capital expenditure and the result of that should be a weaker currency,” he added.

He said household spending and manufacturing will likely only start rebounding in the first half of 2021.

“A good part of our economy has been affected by the pandemic. It clearly changed our approach trying to reduce exposures to highly affected industries. We became a little stricter on our standards but the mentality towards MSMEs (micro, small and medium enterprises) has not changed. Once the economy normalizes, it is an area we want to be heavily involved again,” Mr. Pedro said.

The bank expects Philippine GDP to return to growth by 2022, forecasting a 6% expansion for that year. — KKTJ

Comedy tonight: Red Ollero cracks jokes for a good cause

November 27, 2020 | 12:02 am

IT’S hard to ignore Red Ollero. He stands a little over six feet tall and possesses a certain stature. He has appeared in movies, produces and writes for Comedy Manila and Solid OK, and he opened for the sold-out Mall of Asia Arena show of Filipino-American comedian Jo Koy. That show had an audience of thousands, a fact one can’t ignore, because he reminds you of it in the first few minutes of his special, Red Ollero Live at the Paper Lantern.

Mr. Ollero is streaming his 37-minute special, which was shot at a Solid OK open mic just a few days before the March lockdown. Tickets for the stream can be bought via Ticket2Me.net, on a pay-what-you-want basis (P100 to P1,000), and all proceeds go towards a cause that’s ignominious to ignore: the charity efforts of Tulong Kabataan for victims of recent typhoons Rolly and Ulysses. As of the time of writing, Mr. Ollero has already raised P30,000.

BusinessWorld was able to obtain a review copy of that show, and the jokes jump from his own large figure, buffets, the gym, the church, and all the people in them. A special highlight (for this reporter, at least) was his ability to sustain a chain of dick jokes for three whole minutes. I’m not joking (but he was). Frankly, the whole sequence left me pumping my fist, and the sheer feat of saying dick joke after dick joke for that measure of time is something to be applauded (depending on your taste, of course).

Of course it’s rude, and sometimes it could be rude. The jokes elicit laughs that aren’t quite ladylike. Your face would crumple at a full-on grimace (I noted this at a joke about communion wafers). This would certainly be a hit for irreverent 20 to 40-somethings, but anybody older might be wont to clutch their pearls (well, depending on how liberally they were raised). As he said himself during the special, “Buti napaka-open minded niyo; mga putangina niyo (It’s good that all of you are so open-minded, you sons of bitches).”

He delivers like your eloquent friend with a high tolerance for alcohol with hours of time on his hands. You can jump into the special at any time, and it will feel like you’ve walked in on an inuman (drinking session), and you’re sorry to be late. His observations are also quite deft (I again would like to point out his observations on communion wafers); not cheap shots at low-hanging fruit. He’s also aided with a physical aspect, thanks to a highly expressive face.

“As a child, I really enjoyed reading Pugad Baboy and listening to the albums of Rex Navarrete. I learned how our culture can be funny,” said Mr. Ollero in an interview with BusinessWorld. “I grew up and I would consume more content from the internet like Homestar Runner and Penny-Arcade, and they would do funny stuff I haven’t seen or heard before. [That] taught me how to look at something very differently from others. Finally, comedians like Dave Chappelle and Bill Burr taught me to not be afraid to speak my mind.” He has been performing, starting out as a teen, since 2007. Asked if he had always been funny, he said, “Maybe? I was voted ‘Most Cheerful’ in grade school.”

It’s easy to see what an audience gets from a show: the laughter, of course, but then one will also see another point of view of how the world works for other people. “Their laughter is the most desired response for a comedian. That’s all we really look for, that’s the primary purpose of my stand-up,” he said.

“The best comedy [comes from] things you don’t expect. That’s why I like taking mundane daily things that just happen and find the funny in them. The buffet joke came from real experiences, and I just exaggerated it for comedic effect. These are just things people say and I just took that logic and blew it up,” he said about his observations.

As one of this country’s most well-known acts, of course he’d know what this country might need for a more robust comedy industry. “We need more comedians, like a lot of really good ones. The more we are, the more shows we can do, the more people are going to know about us.”

Lockdown Laughs

RED Ollero isn’t quite alone. Here is a list of comedy offerings by members of Comedy Manila, presented in podcast formats since the lockdown.

KoolPals (on Spotify) – Comedy trio GB Labrador, James Caraan, and Nonong Ballinan say on their Facebook page, “Ang KoolPals ay isang podcast tungkol sa kahit ano. At kahit ano, kaya naming gawing nakakatawa! (KoolPals is a podcast about anything; and we make anything funny).” A vague proposition, but one that has made it a No. 1 trending podcast on Spotify (at least on Nov. 24).

Nagmamarunong (on Spotify and Facebook Live) – Another podcast in trio format, comedians Micah Andres (he usually starts the show riled up by the news), Andren Bernardo (the self-proclaimed “face that runs the place”), and Michael Saddi (who has a son) talk about whatever pops into their heads, and then argue about it.

The Kids are Asleep (Facebook Live) – Three dads: Jeps Gallon, Michael Saddi (from Nagmamarunong), and Jethro Trogo talk about raising their kids, the stock market, and other sundry, but they make it funny.

The Class Clown with Chino Liao (Spotify) – Mr. Liao has a wide variety of guests on his podcast, so while laughing you’ll also learn a lot from members of several industries: from sneakers to science.

Pusong Pinoy, Pusong Hapon (Facebook Live) – Comedians Israel Buenaobra and Yuri Horikoshi teach each other the rudiments of living in Manila and Japan (Mr. Horikoshi has been living in this city since 2016), while peppering it with dick jokes. Mr. Buenaobra also holds open mic nights every Friday for aspiring comedians.

Some of these acts will be performing for Comedy Manila’s upcoming Nov. 28 show, Feature Perfect, at 8:30 p.m., via Zoom. Tickets are available via Ticket2Me.Net for P300. Performers include Winer Aguilar, Micah Andres, Andren Bernardo, Ramon Cabochan, Jeps Gallon, Derf Hebrado, Roger Naldo, and Alexio Tabafunda. — JLG

Buskowitz Energy sells signature solar home systems at 40% off

November 27, 2020 | 12:02 am

RENEWABLE energy developer Buskowitz Energy is offering its signature Solar Home Systems at a 40% discount per package, with rates starting at around P119,000, as part of its three-day Black Friday Sale, the firm said in a media release.

The sale aims to make the company’s solar energy systems “more affordable for home owners.”

“If more homes adopt solar power, then perhaps in the long run, we’ll see those savings go into more meaningful purchases for family members, lower daily operating costs for households, and create generations of green-conscious homeowners who will help create a more eco-friendly future,” Chief Executive Officer James Buskowitz said in a statement.

The offers under the 40% discount include the 2.2 kilowatt-peak (kWp) Solar Home Lite (P119,397.79); 3 kWp Solar Home (P170,638.76); 5 kWp Solar Home Plus (265,438.07); and 10 kwp Solar Home Max (P517,719.36).

Each package includes high-efficiency, tier-one solar panels; mounting hardware accessories; installation fees; net metering fees and free delivery within Metro Manila and other areas.

The firm, which also provides financing solutions for its customers, said that its residential solar line can help offset lower electricity costs by up to 60%.

Interested customers may avail of the Black Friday discount from today up until Nov. 29. — Angelica Y. Yang

US tech firms can pay gig workers with equity under SEC proposal

November 27, 2020 | 12:02 am

WASHINGTON — The US securities regulator on Tuesday proposed a pilot program to allow tech companies like Uber and to pay gig workers up to 15% of their annual compensation in equity rather than cash, a move it said was designed to reflect changes in the workforce.

The Securities and Exchange Commission (SEC) said Internet-based companies may have the same incentives to offer equity compensation to gig-workers as they do to employees. Until now, though, SEC rules have not allowed companies to pay gig workers in equity.

The proposal would not require an increase in pay, just create flexibility on whether to pay using cash or equity. It comes amid a fierce debate over the fast-growing gig economy, which labor activists complain exploits workers, depriving them of job security and traditional benefits like healthcare and paid vacations. The SEC’s Democratic commissioners said giving tech giants such flexibility would create an uneven playing field for other types of companies.

“Work relationships have evolved along with technology, and workers who participate in the gig economy have become increasingly important to the continued growth of the broader US economy,” said SEC Chairman Jay Clayton in a statement.

The proposed temporary rules would allow gig workers to participate in the growth of the companies their efforts support, he added, capped at 15% of annual compensation or $75,000 in three years.

Democratic SEC commissioners Allison Lee and Caroline Crenshaw opposed the move, saying alternative work arrangements, including independent contractors and freelancers, have existed for decades across a range of industries and it was not clear why tech companies should be singled out for special treatment.

“Whatever the potential merits of equity compensation for alternative workers, the proposal does not establish a basis for selectively conferring a benefit on this particular business model,” they wrote in a statement. — Reuters

Calling attention, investment and innovation to the housing market’s invisible segment

November 27, 2020 | 12:01 am

It seems to still be “all systems go” in Bogo, a city located in northern Cebu, as noted by Sambag Barangay Chairman, Virgilio Terada. Supply of essential goods are stable while hardware stores selling building materials are still open, except for those that chose to temporarily close shop. The problem, however, is that people still can’t buy anything, even if they need to repair or rebuild their homes.

When the city was placed under enhanced community quarantine in March, many of Terada’s constituents, most of which are construction workers, had returned home because work in Cebu City temporarily stopped. Terada did not only have to deal with their health situation, but also those in need of financial aid because their sources of livelihood had stopped.

“Tricycle drivers and construction laborers are the most affected, because nobody wants to go out and even major construction works stopped around here. There are still those doing minor home repairs, but these homeowners only hire two people at most because of physical distancing,” Terada revealed.

His only hope is for the pandemic to be finally over so they can all return to normal. “We really live in difficult times, and I can’t give all of them jobs or money. And without money, they can’t complete their homes.”

Terada’s community represents the staggering number of people who struggle to incrementally build a decent home, due to a lack of affordable construction materials and access to appropriate services, and whose home building plans are further dampened due to the pandemic.

Referred to as the owner-driven construction segment, they constitute 55% of what is called the “unserved” segment, whose housing needs reached 5.9 million units, as revealed by a 2020 housing gap study by Habitat for Humanity’s Terwilliger Center for Innovation in Shelter, and Center for Communications and Research (CRC). The study further revealed that, by 2022, the anticipated housing crisis will hit the Philippines hard with a 15-million housing gap if nothing is done to immediately address it.

The study was one of the highlights of the recently launched ‘BAHAYnihan: Rising Together through Housing’ online forum organized by Habitat for Humanity Philippines, the Terwilliger Center, and CRC. The online forum was part of Habitat’s celebration of Urban October and was a first of a series of quarterly online forums that aim to build awareness of the housing needs in the country and the unserved population, and to create partnerships, particularly with the business sector, in solving the gap.

“The economy is at a stand-still, which makes the flow of resources slower and limits the opportunities for income generation. Low-income households are putting house repairs and upgrades on hold, and this continues to happen because the Philippines is one of the most unequal economies and societies in Southeast Asia. This inequality causes exclusion in various aspects of the housing market system: financial, material, services, information, and policy exclusion,” said Jessan Catre, Terwilliger Center’s Philippine Shelter Venture Lab Country Lead.

Strengthening housing markets

Typically, low-income households build homes that they improve as soon as their resources allow. The process of housing improvement itself is often a ladder out of poverty for families. These changes benefit the larger community, reducing inequality and building resilience against economic and natural disasters.

Additionally, housing is shown to be a larger-than-expected contributor to emerging economies’ GDP, with a contribution of 14.9% of the GDP in the Philippines alone, on par with sectors such as manufacturing that often draw more attention in economic recovery plans. In the Philippines, the undercount of the entire housing sector’s contribution to the country’s GDP is already at Php 1.39 trillion (US$ 29 billion).

Given the importance of housing in social and sustainable development indicators, there is great potential for serving low-income families’ shelter needs. In the Philippines, these incremental builders represent a market value of Php 626.5 billion (US$13 billion).

With the launch of the Terwilliger Center in 2016, and the Philippines’ Shelter Venture Lab in 2019, Habitat for Humanity aims to play a catalytic role by stimulating changes in market systems, including supporting companies to find market opportunities that can meet the shelter needs of low-income families. The Center works with local firms and other market actors to expand innovative and client-responsive services, products and financing. Such an approach enables low-income households, particularly incremental builders, to improve their shelter more effectively and efficiently.

In partnering with Philmetal Products, Inc., the Terwilliger Center supported in expanding the roofing materials company’s distribution channels, in order to enable 2,500 low-income households in Cebu to access more affordable, improved quality materials.

“We are also working closely with media companies to produce content about better housing targeted at low-income audiences. Our interventions include audience research so we can better understand how low-income households behave, particularly what kind of content they consume and how they access it,” Catre said. Other partnerships have provided provide digital training and educational opportunities to aspiring skilled construction workers and tradesmen.

Business solutions to housing

To ensure business-driven solutions are making a real difference, the Terwilliger Center is engaging with more market actors across the supply chain, as well as often-overlooked labor groups such as incremental builders and masons.

“By working through the core business model of companies, we can increase their ability to reach new market segments and change the way the housing and construction sector works for low-income Filipinos. An inclusive approach makes good business sense. By making their products and services accessible to more Filipinos, businesses are also expanding their own resources and markets,” Catre added.

In the Philippines, the Terwilliger Center and Habitat for Humanity Philippines continue to bring attention to the unserved segment’s housing needs through the BAHAYnihan Forum. In January, the second iteration of the forum will gather national corporate leaders to find and promote business solutions that provide quality products and services to the unserved segment.

Enterprises, corporations, startups, professional associations, academics and other interested parties can apply to join the Terwilliger Center’s programs by sending an expression of interest alongside an organizational or professional profile. Selected organizations will receive financial and technical support, and will benefit from Habitat’s knowledge of low-income housing, and latest findings from ongoing research on the unserved but emerging segment and global best practices. Contact us at TCIS-PH@habitat.org to find our more and submit your expression of interest.

Sexual harassment exposed in a poison-pen letter

November 27, 2020 | 12:01 am

Our human resource department received an anonymous letter via suggestion box alleging that a manager from another department is sexually harassing his young assistant. There were no other details, evidence, or witnesses except the words: “My boss (name withheld) is a devil. He must go to hell for lifting my skirt and for touching my shoulder every now and then. I am a victim. Please help!!!” How would you advise on dealing with this situation? — White Lily.

I suppose there are only three persons who are privy to this issue. This includes you, assuming you are from the HR department, the victim, and the manager-harasser. As Benjamin Franklin said: “Three can keep a secret, if two of them are dead.” When you’re handling an employee discipline issue, you must keep this secret from start to finish.

The principle in law, justice, and fair play is that if there’s no victim, no offense was committed. In other words, no corpse, no murder. To extend the analogy further — no complaint, no issue. Of course, there are exceptions to this in extreme cases. Another theory holds that it’s better to acquit thousands of guilty people than to put an innocent man to death.

You’re treading on dangerous ground. Therefore, avoid any legal complications that may arise out of this poison-pen letter, which has no probative value. It won’t be accepted by any court of law. Technically, there should be no issue to begin with. Without a complainant or witness, the case should be dropped pronto. But what if it’s true? Would you turn a blind eye to the victim simply because she doesn’t have the courage to report the matter to you?

What if that manager accuses you of creating friction within his department? What if he asks why you are paying attention to unfounded allegations? If you pay attention to all accusations, how will you prevent other employees from doing the same thing?

SIX MEASURES
A solution to this conundrum is not out of reach. As an HR practitioner, you should be the first line of defense in deterring sexual harassment and preventing it from escalating. You need to be proactive. Here are some pointers that may guide you in managing this particular case and all other cases in the future:

One, review or reestablish a policy on sexual harassment. You can take your cue from a 25-year old law, Republic Act 7877 or the Anti-Sexual Harassment Act of 1995. You can adopt its definition and make it part of the company’s Code of Conduct. Note, however that even in the absence of such provisions in your Code of Conduct, you can still “prosecute” any offender by following the provisions of such law.

Two, remind all workers and managers about such a policy. As soon as the “smoke” comes out, it’s best to issue a circular via bulletin board, e-mail alert, or any other such reminder. You need to make the point that any violation of the law or corporate policy will not be tolerated, subject only to the limitations of due process.

Three, provide a guide on reporting offenses for the victims. Make it clear that a poison-pen letter to management is not the best way. List down all the requirements and provide a template incident report, but make it easy for the victims to file a report to any manager whom they trust or the HR department as the default reporting department.

Four, organize a seminar-orientation on sexual harassment. Do this every three months depending on the population of potential victims or as soon as an ugly rumor begins circulating. Depending on your budget, you can hire a lawyer-specialist, an HR consultant, or invite some officials from the Department of Labor and Employment who can share with you how other companies have handled such cases.

Five, inform the CEO or your department boss about the issue. Your boss may not like being surprised or to hear of the issue from others. Explain the situation right away and your plan to prevent the recurrence of such incidents, regardless of the reliability of the poison-pen letter. More often than not, your plan of action will be accepted.

Last, confer with the alleged offender. This is optional and depends much on the personality of the accused manager or his rank. If that person is known to be abrasive and has a difficult character, it’s better for you not to inform him of the existence of such a letter. Even if you take the high road or do it diplomatically, you may be misinterpreted.

QUICK ACTION
As soon as you hear of a rumor about sexual harassment, you should treat it like an emergency. You must act expeditiously and fairly to both parties. If you keep dragging your feet, you may end up overtaken by events like the victim’s resignation, mass action by other victims, or intervention from the victim’s lawyer or union. Your career may even be at stake.

The circumstances may vary, but in general, you don’t have to accuse the alleged offender or share the letter with him. Again, anonymous letters have no real value and should be discarded right away. But it doesn’t mean sweeping it under the rug. As an HR person, your job is to keep an ear to the ground. Be alert for any issues that could potentially damage work relationships and careers.

Send anonymous questions to elbonomics@gmail.com or via https://reyelbo.consulting

Listing Filipino firms abroad

November 27, 2020 | 12:01 am

Two homegrown firms are about to be listed in foreign stock exchanges. One of them is fintech venture iWave, Inc., a unit of Philippine Stock Exchange (PSE)-listed DFNN, Inc. engaged in systems integration, information technology, and software development.

Through a reverse takeover of China Sky Chemical Fiber Co. Ltd., iWave is undertaking a backdoor listing in the Singapore Exchange (SGX). Once the scheme is approved by state regulators, China Sky will then transfer its listed status to iWave in the form of shares in the surviving firm, which is an arrangement allowed under SGX rules.

This month, the iWave board appointed Robert Isaacson as an independent director. He is a seasoned investment consultant in North America and the Asia-Pacific region who has completed consulting assignments for leading financial institutions such as the Commonwealth Bank of Australia, Mitsubishi Futures of Japan, and United Overseas Bank of Singapore.

In a storied career spanning 50 years in finance, Mr. Isaacson served as director and adviser of the Chicago Mercantile Exchange, New York Cotton Exchange, American Futures Industry Association, Asia Pacific Managed Futures Association, and Hong Kong Global Arbitrage Conference, among others. As a highly regarded industry expert, he has testified before the US Senate and House of Representatives while as an author, his works have been published in the Wall Street Journal, Dow Jones Commodity Handbook, Chicago Tribune, Nikkei Financial Daily, and Barron’s, to name a few.

These twin developments augur well for iWave as it expands its footprint internationally and is poised to become one of only three Filipino companies listed in the SGX. Its listing in the city-state’s bourse would translate into better access to a wider capital base considering that Singapore is a global financial hub.

Meanwhile, another DFNN unit called Hatch Asia, Inc. (HAI) has been given the green light to list its wholly owned subsidiary, Hatch Australia Holdings Pty. Ltd., in the Australian Stock Exchange (ASX). The Foreign Investment Review Board of Australia recently stated that it had no objection to HAI’s takeover bid for Silver Heritage Group Ltd., a Sydney-based gaming company listed in the ASX.

HAI is acquiring 92% of Silver Heritage’s issued capital after the latter’s existing securities are consolidated and new shares of Hatch Australia are issued. The deal will allow DFNN to fully value its early investments in HAI by tapping the Australian capital market. This merger and the ongoing acquisition process in Singapore will both create new business streams that are seen to pave the way for more Filipino companies to enter the global arena.

REENTERING THE PROPERTY MARKET
Real estate industry veteran Januario Jesus Atencio III has returned to the property business via a 13% equity investment in Ovialand, Inc. (OLI) through his private asset management company Januarius Holdings, Inc. (JHI). It may be recalled that he retired in 2017 as President and CEO of PSE-listed 8990 Holdings, Inc.

Last week, JHI unveiled its partnership with OLI, a housing developer founded by the Olivares family in 2014. OLI’s projects are concentrated in the Southern Luzon provinces of Batangas, Laguna, and Quezon. It expects to generate P4 billion in revenues over the next three years from a current land bank of 32 hectares.

OLI President Pammy Olivares-Vital said Mr. Atencio’s entry was a welcome surprise. She disclosed that it was at a housing convention when she first proposed the joint venture between JHI and OLI. After two more meetings, the agreement was sealed “and what happened next would change the course of our company forever,” she narrated during a virtual media briefing.

Officers of the two companies exchanged ideas during the first wave of the lockdowns when the entire Luzon Island was placed under enhanced community quarantine (ECQ). Surprisingly, OLI was able to sell housing units even during the ECQ period and when construction was allowed to resume, Ms. Vital’s team quickly adapted to the new normal.

While many businesses took a wait-and-see stance in the early stage of the COVID-19 pandemic, both JHI and OLI remained confident that the Philippine economy would bounce back in direct proportion to the willingness of private companies to be bold.

J. Albert Gamboa is CFO of the Asian Center for Legal Excellence and chairman of FINEX Publications.

Stuff to do (11/27/20)

November 27, 2020 | 12:01 am

Mercatino pop up shop

A NEW eclectic pop-up shop focused on sustainability and supporting local businesses is open from Nov. 28-29 and again on Dec. 5-6 at La Collina, Poblacion, Makati. The pop-up store is curated by Carol de Leon and will feature slow food by Anita Celdran. Visiting the pop-up store is by reservations only although access is free as the store can only accommodate up to 20 people per time slot. To reserve a slot, visit eventbrite.com/e/mercatino-pop-up-shop-tickets-126845242535.

Robinsons Malls holiday promos

IT’S NEVER too late to squeeze in last-minute shopping and tick all of the things off on your shopping lists with Robinsons Malls’ ongoing Christmas Holideals, and get up to 70% off participating merchants with its Holiday Sale from Nov. 16 to Dec. 20. Robinsons Malls are also holding several raffle draws with prizes including an iPad 8^th Gen and a 32-inch Devant Smart TV (one raffle entry for a single-receipt purchase worth P2,000) from Nov. 15 to Jan. 31. Visitors who take photos of the mall Christmas decor stand the chance to win Realme Buds Classic and other prizes from Nov. 27 to Dec. 3. For more information visit RobinsonsMall on Facebook; or follow @RobinsonsMallOfficial on Instagram; and @RobinsonsMalls on Twitter.

Greenhills Super Sale

GREENHILLS Mall is having a Christmas Super Sale from Nov. 27 to 30, with discounts of up to 70% at Greenhills’ last sale of the year. From restaurants such as Boulangerie 22, Gloria Maris, Ramen Nagi, and Red Mango, lifestyle stores like PabDer, Fully Booked, Game Extreme, and the Body Shop, to unique fashion and gadget finds from the tiangge stores — there’s something for everyone at Greenhills’s Christmas Super Sale. For the complete list of participating stores, check Greenhills’ announcement on its Facebook Page.

Rustans’ Black Friday and Cyber Monday Sale

WITH CHRISTMAS Day looming, Rustans.com’s Black Friday/Cyber Monday Sale on Nov. 27 to 30 offers designer deals at the most important time of year. Enjoy offers from leading brands of to up to 70% off. From stylish clothing to accessories, best-selling skincare and makeup products to fine jewelry, kid-approved toys and plushy home items, Rustans.com gives customers four days to stock up on all the items one needs for the holiday season.

National Book Store, Art Bar, Kids Ink, and Powerbooks sale

NATIONAL Book Store, Art Bar, Kids Ink, and Powerbooks are holding an ongoing Christmas Sale at their stores nationwide until Nov. 30, with discounts of up to 50% and freebies on participating items. Books, modular learning and online schooling supplies, work from home essentials, and more are included. Strict safety protocols are implemented in all branches, including regulation of the number of shoppers inside the store, required wearing of face masks and face shields, enforcement of social distancing, use of contactless payment methods, and regular sanitation of all floors, counters, surfaces, and shopping baskets. Get more updates by following National Book Store on social media -@nationalbookstore on Instagram and @nbsalert on Facebook, Twitter, and YouTube.

Dua Lipa’s live virtual concert via Smart

DUA Lipa’s Studio 2054, a live virtual concert, will be streamed across the world on Nov. 28, at 4:30 a.m., Philippine time, with replays at 8 and 10 a.m., and 5 p.m. Philippine time. To make it easy for Filipino fans to experience this spectacle, mobile services provider Smart Communications, Inc. has partnered with LIVENow, a pay-per-view service, to enable Smart Signature subscribers to buy their tickets and charge this to their postpaid bill. Just sign up at https://tinyurl.com/SmartDuaLipa, select Pay Your Phone, then choose Smart as the mode of payment. Smart Prepaid customers can also buy concert passes using their prepaid load. Last August, Smart also teamed up with LIVENow to bring Ellie Goulding’s The Brightest Blue Experience Online concert as part of the GigaFest line-up of activities.

‘Suddenly Turning Visible’ exhibit

THE CULTURAL Center of the Philippines and National Gallery Singapore co-produced an online program featuring artist Lani Maestro. Tune in to a conversation between Ms. Maestro, Seng Yu Jin, co-curator of “Suddenly Turning Visible,” and Rica Estrada of the CCP Visual Arts and Museum Division via https://fb.me/e/WxCbHMxW. Suddenly Turning Visible: Art and Architecture in Southeast Asia (1969-1989) features five artworks from the CCP Visual Arts Collection and may be viewed at the Ngee Ann Kongsi Concourse Gallery of the National Gallery Singapore until Nov. 29.

Discovery Shores Boracay miniseries

ON SATURDAY, Nov. 28 at 4 p.m., the World of Discovery (WOD) webinar series by Discovery Hospitality (DHC) is launching a collection of special edition episodes on the return of travel in the new normal. The Discover Now miniseries kicks off with Discover Boracay, with the webcast streaming via Facebook Live from the beaches of Discovery Shores Boracay. Online personalities David Guison, Angelique Manto, and Marj Sia will share every step of their 2020 travel experience to Boracay’s sandy shores. The webinar, hosted in partnership with Cebu Pacific airlines and Philippine Airport Diagnostic Laboratory (PADLAB), will also delve into the details of the travel planning process, including collecting LGU requirements, the at-home swab test, and the flight to Caticlan Airport. Chris Tiu once again joins the WOD webinar to host, alongside Discovery Shores Boracay’s Director of Sales and Marketing Claire del Rosario-Bernabe. All the webinar guests will join the webcast from different areas of Discovery Shores Boracay to highlight the experience across the resort, and of course, to maintain safe social distancing. The webinar will be live on bit.ly/DHC-LIVE.

Deaf students’ online festival

THE 26^th Deaf Festival, a tradition that promotes awareness and appreciation of Deaf identity and culture, has moved online. Themed “Festival of Hope: Moving from a spirit of hopelessness to a spirit of hope,” this year the festival is hosted by the School of Deaf Education and Applied Studies (SDEAS) of the De La Salle-College of Saint Benilde (DLS-CSB). It serves as a venue for the Deaf students to enrich their knowledge, skills and creativity. The festival will include an online bazaar, a two-part seminar for both those who can hear and who cannot, games and poster making contests, and will wrap up with a cultural show on Nov. 28, 2 p.m., via a private Facebook group. Tickets are at P80 for students and P100 for adults. Register at: https://forms.gle/VpABBm7gZKMhYbYPA. For inquiries or donations, contact sdeas.deaffestival@benilde.edu.ph or dea.faustino@benilde.edu.ph or visit the event’s official Facebook account @SDEASDeafFestival.

Globe myBusiness Gift Local E-Bazaar

FROM Nov. 27 to 29, the Globe myBusiness Gift Local E-Bazaar in Lazada will feature small-medium enterprise (SME) merchants and bazaaristas from the retail, food, and tourism industries, and social enterprises. Every day at 6 p.m. for the duration of the event, selected merchants will be live-selling on Lazada’s platform and the Globe myBusiness Facebook page. Games, raffle prizes, and entertainment courtesy of Globe Voices also await e-shoppers. Among the merchants participating in the e-bazaar are: Kajg jewelry and accessories, TeeshertCo, BEBE CO., miNEEYture, Obra Kinaiya, Crafts by Lesy, Terra Philippines, Old World Food Enterprise, and Everything About Snack. Globe myBusiness will be donating 100% of the merchants’ joining fee to Ayala Foundation’s Brigada ng Ayala project that seeks to provide help to disaster-affected areas as well as provide connectivity to public school teachers and students.

Araneta City’s deals for the long weekend

As the long weekend starts, Araneta City is holding a slew of sales, promos,and deals. There is the Black Friday Sale on Nov. 27 at the Gateway Mall, Ali Mall, and Farmers Plaza with discounts of up to 70% on select items. On Nov. 30, Bonifacio Day, order food or items from any Araneta City establishment using the Araneta City Assist and enjoy a one-day free delivery. Check out the Araneta City Assist via the mobile app or website, contact any participating store, then place an order — and mention the promo code HEROES TREAT to avail the free delivery service. Over at the Gateway Mall during the long weekend, visit the booth of Novotel Manila Araneta City at the mall activity area for hotel sales and offerings, curated holiday goodies, packages, hampers, and platters. Score discounted room vouchers and dining vouchers that serve as gifts. Visit the official Facebook page of Novotel Manila Araneta City for more details. Drop by the Christmas bazaars at the Gateway Mall, Ali Mall, and Farmers Plaza starting Nov. 27 to find a wide range of Christmas gifts and items for a variety of preferences and budgets. If online shopping is preferred, there is “Ask Araneta: Regalo,” Araneta City’s first virtual gift finder, designed to assist shoppers in finding the best gifts this holiday season. This service is available for items sold in retail establishments at the Gateway Mall. Customers are assigned their own virtual finder, and communication is done via chat. They can ask for gift recommendations, and the virtual finder will reply with a catalogue listing down items matching their query. They can also ask the virtual finder to send pictures of the recommended gifts, and visit a given retail store to ask for more details about the shortlisted items, among other requests.

CCP Arthouse Cinema Online film screenings

THE Cultural Center of the Philippines (CCP) Arthouse Cinema focuses on nationalism and Filipino heroes with selected Cinemalaya and Gawad Alternatibo films in celebration of Andres Bonifacio Day. The featured films – Ang Paglilitis ni Andres Bonifacio, Dagami Daytoy, Hollow Blocks, Puting Ilaw, and Pilipinas – will be screened for free from Nov. 27 to 29 via the CCP Vimeo Channel. A one-day extension (until Nov. 30) will be offered to CCP Film Society members. To watch the films, go to https://vimeo.com/ondemand/bayanitayo. Choose the film you want to watch and click “RENT.” At the billing page, type <BAYANI> then click “apply.”