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SEC flags investment scheme operated by Bitcoin Digital

THE Securities and Exchange Commission (SEC) is warning the public against an unregulated investment operator that claims to be endorsed by Finance Secretary Carlos G. Dominguez III and local celebrities.

In an advisory on its website, the SEC said a group named Bitcoin Digital, which runs its own website, does not have a regulatory license to sell securities and solicit investments to the public.

“[B]ased on our records, Bitcoin Digital is not registered with the commission and is not authorized to solicit, accept or take investments/placements from the public nor to issue investment contracts and other forms of securities,” it said.

“Moreover, Bitcoin Digital is likewise not included among the registered banks, exchanges or companies engaged in digital assets with the Bangko Sentral ng Pilipinas,” it added.

The SEC advisory showed screenshots of Bitcoin Digital’s promotional materials, which featured “fabricated” endorsements from Mr. Dominguez along with the faces of President Rodrigo R. Duterte and celebrity Vic Sotto.

The corporate regulator likened the group’s tactics to Bitcoin Revolution and Immediate Edge, which the SEC had previously warned the public against engaging with.

“[T]he public is advised not to invest or stop investing in any scheme offered by Bitcoin Digital that promises ridiculous rates of return with little or no risk,” the SEC said.

The group claims to provide a passive money-making opportunity through cryptocurrency investing. With a minimum investment of €250 (about P14,100), an investor may earn about €500 to €2,000 (about P28,200 to P112,800) daily.

The SEC said this shows signs of a Ponzi scheme, where money collected from new investors are used to pay fake profits to earlier investors.

The regulator warned that salesmen, brokers, dealers, and agents of Bitcoin Digital and other operators of unauthorized investment schemes may be penalized with up to a P5-million fine, up to 21 years of imprisonment, or both. — Denise A. Valdez

Construction of high-end Davao condo stays on track

DAVAO CITY — The Ayala and Alcantara groups’ township project, Azuela Cove, is on track with its first residential building scheduled for topping off by the end of the year.

Rico Manuel, Ayala Land, Inc. (ALI) area head for Mindanao, said in an e-mail interview last week that they have been able to catch up with the construction schedule after the delay in previous months and despite limitations in observance of health protocols. 

He said the company is forging ahead with the development as homebuyers are seen to prefer properties that offer a wide range of services and amenities within one complex.

“The pandemic changed our perspective in life, highlighting the importance of health and living in a sustainable community. We are all of a sudden reminded of the importance of essential amenities and facilities that should be easily accessible to us during these times,” he said.

Azuela Cove features a high-end condominium, The Residences, located along the Davao City coast facing the Davao Gulf and Samal Island. The 22-floor, two-tower building has a combined 147 units ranging from 181 to 377 square meters each.

The 25-hectare mixed-use complex is a project of Aviana Development Corp., a joint venture company of ALI and the Alcantara Group of Companies.

A two-storey shopping center is also under construction, which will house the Gaisano Market and restaurants on the ground floor, and lifestyle shops on the second floor.

The Gaisano Market is targeted to open by the second quarter of 2021, according to Kristine G. Lim of the Gaisano’s DSG Sons Group, Inc.

A branch of St. Luke’s Medical Center will also be built within the complex.

Existing amenities include a row of cafes and dining places called The Shops, The Sports Hub, and The Enderun Tent for events and gatherings, which have all resumed operations under government-set restrictions on capacity.

Aviana Corp. has also partnered with the Department of Agriculture for the use of an open area as a weekend Kadiwa market where local farmers and food processors sell their goods.

“Our vision of offering a complete waterside community is steadily coming to fruition. With The Shops, The Enderun Tent, The Sports Hub, the upcoming Gaisano Hypermarket and St. Luke’s Hospital, Azuela Cove, is truly becoming the most ideal and complete in-city community to live in,” Mr. Manuel said. — Maya M. Padillo

New Spanish films to show online in November

FILM buffs will be able to catch a series of movies considered as “The Other Spanish Cinema,” a label with which the generation who started working with cinema at the dawn of the 21st century was named, through the “New Cinephilias Online” film series on Vimeo.

Instituto Cervantes and Festival de Sevilla, in collaboration with the Embassy of Spain in the Philippines, will present “New Cinephilias Online” through the Instituto Cervantes channel on the Vimeo platform. The films will be freely accessible for 48 hours from their start date and time. A new film will be shown every Saturday starting Nov. 7.

The films to be shown are Adrián Orr’s documentary Niñato (Kid), which was named Best Film during the 19th BAFICI – Buenos Aires Festival Internacional de Cine Independiente (Buenos Aires International Independent Film Festival); the drama feature films Ver a una mujer (To See a Woman) by Mònica Rovira and A estación violenta (The Wild Season) by Anxos Fazáns; and Xavier Artigas and Xapo Ortega’s documentary Idrissa, crònica d´una mort qualsevol (Idrissa, Chronicle of an Ordinary Death), which was nominated to the XII Premios Gaudí (Guadí Awards) and the 15th Festival de Sevilla de cine europeo (Seville European Film Festival).

“These films are creations of filmmakers who sought to express themselves with new paradigms and who benefited from the freedom offered by the digital revolution,” a release from the Insituto Cervantes says. “During the last 20 years, these artists have created a niche where they experiment with new narrative models. There is no doubt that, with them, new viewers are born who appreciate and look forward to seeing the fruits of their labors: the modes of postmodernity, the visual quality, the formal audacity and the multiple representations of these films are some of the features they share and that are recognized by creators and viewers.”

“New Cinephilias Online” will start on Nov. 7, 3 a.m. in Manila (Nov. 6, 8 p.m. in Madrid), with the screening of Niñato (2017), which will be available for 48 hours until Nov. 9 at 3 a.m. The documentary focuses on the family of David Ransanz, a young and jobless rapper from the suburbs of Madrid who raises a three year old while living in his mother’s house. Director Adrián Orr draws a moving and close portrait of this “kid” who tries to resist a monotonous and not very encouraging situation, while still holding on to his musical dreams.

Premiering on Nov. 14, again at 3 a.m. Manila time, is the drama Ver a una mujer. Directed by Mònica Rovira in 2017, it is an intimate film about the relationship between the director and her first female love, Sarai.

Another feature film, 2018’s A estación violenta, will be shown on Nov. 21. This dazzling debut of Anxos Fazáns, adapted from the novel by Manuel Jabois, showcases life in a city where there is no horizon other than that of an unhappy past and that of a lost generation. It is a story of silent loves, broken complicities, and mutual mistrust.

The film series ends with the documentary Idrissa, crònica d´una mort qualsevol, on Nov. 28. The film depicts how the Spanish legal system has made it nearly impossible to investigate into the death of a 21-year-old Guinean migrant at the Centre d’Internament d’Estrangers de Barcelona (Foreigners Internment Center of Barcelona). The directors are not just recounting a real life story, but conveying about the effective use of cinema as a tool for action and change.

The films are in Spanish with English subtitles. Admission is free. For further information and updates on this film series, check out http://manila.cervantes.es or Instituto Cervantes’ Facebook page, www.facebook.com/InstitutoCervantesManila.

ABS-CBN shutdown leaves ‘information gap’ — professor

THE shutdown of ABS-CBN Corp. left a big “information gap” in the midst of natural calamities such as Typhoon Rolly because of the broadcast giant’s wide reach and significant role in covering far-flung areas, a journalism professor said on Monday.

“What cannot be denied is the wide reach of the ABS-CBN network, not to mention the fact that it has a regional network group, which can mobilize community journalists and at the same time use the latest technology to get information from the ground,” Danilo A. Arao, an associate professor at UP Diliman’s Department of Journalism, told BusinessWorld.

His comments come after Undersecretary Ricardo B. Jalad, executive director of the National Disaster Risk Reduction and Management Council, on Sunday appealed to the media to help in disseminating advisories on the strength and risks of Typhoon Rolly, saying some remote areas are reached only by radio.

Disaster spokesperson Mark Cashean E. Timbal on Monday said communication with disaster managers in Catanduanes, where Rolly made its first landfall Sunday morning, was limited to satellite calls or radio communication.

According to Mr. Arao, ABS-CBN’s TV Patrol Bicol was able to get the necessary information from Catanduanes even when communication lines were down in the province during the onslaught of typhoons.

“Right now, we cannot do that, we can only rely on certain anecdotal evidence given by some residents,” he said.

The House of Representatives in July denied the franchise renewal of ABS-CBN, forcing the country’s largest network, in terms of reach, to shut down some of its operations, including its regional television programs and radio format program Teleradyo, which can only be accessed now online and on digital TV.

ABS-CBN’s regional network has been producing local TV Patrol programs on the network’s 21 regional stations for over three decades, serving viewers in the countryside with news presented in their own dialects. 

Reporters who speak in the language that viewers truly understand bring a sense of comfort and relatability, Mr. Arao said, adding that ABS-CBN had the “best and the brightest” community journalists for its regional news and public affairs programs.

“In communication, we need a certain degree of cultural proximity to our audience,” he said.

Mr. Arao said other networks also have regional outfits to varying degrees, but their level of organization “still has much to be desired” compared with that of ABS-CBN.

“If you combine community journalism with the technologies that ABS-CBN can provide, this will be an effective way to provide the necessary information,” he said.

With the absence of a top broadcast station, the country is partly missing regional perspectives that could have been essential in development planning, public health expert Anthony C. Leachon said over the weekend.

“We have a dearth of information coming from main media stations with the absence of a top broadcast station. We are missing the regional situationers of the development of the typhoon, hotlines for donations, and experts’ opinions. Overcommunication saves lives,” said Mr. Leachon, a physician and a former adviser of the government’s taskforce against coronavirus.

Mr. Arao said ABS-CBN is missed “because we would have wanted more and more coverage, instead of less coverage.” He said there is “no such thing as too much information or too much coverage” during natural calamities. — Kyle Aristophere T. Atienza

ECB policy action pledge has banks, marts guessing

THE EUROPEAN CENTRAL Bank’s (ECB) exceptionally clear pledge to come up with a new package of monetary stimulus at its next policy meeting has given markets plenty to think about.

President Christine Lagarde was forthright last week in saying her institution will provide all the support needed for a euro-area economy that is again shutting down under the onslaught of the coronavirus.

But she was also insistent that simply doing more of the same is not the plan. To hammer home that message, she referred to the “recalibration” of the ECB’s measures 20 times in her one-hour press conference.

So financial professionals immediately got to work figuring out what that might entail.

BOND BINGE 1
Economists and investors are essentially unanimous on one thing: the €1.35-trillion ($1.6- trillion) pandemic emergency purchase program will be expanded.

The powerful bond-buying plan — agreed at an extraordinary ECB meeting in March, and only half of which has so far been used — can crush signs of stress in government finances by buying up the debt of struggling nations.

JPMorgan Chase & Co., UBS AG and Barclays Plc all expect an extra €500 billion to be added. Morgan Stanley expects a little less, Commerzbank AG a little more. The general view is that the program will be extended by six months to the end of 2021.

The weekly pace of purchases could also be stepped up even before the meeting, according to Evercore ISI.

BOND BINGE 2
Some economists see a chance of another bond program being boosted as well — the asset purchase program that was launched in 2015 to fend off the risk of deflation. After a brief halt in 2019, it was resumed and is running at €20 billion a month, plus a “temporary envelope” of €120 billion. It’s currently scheduled to run until the end of this year.

ABN Amro Bank NV, Barclays and Pictet & Co. are among those saying the program will likely be extended into 2021 and stepped up — Pictet says it might be doubled to €40 billion a month.

A related, and much thornier, topic is whether the asset purchase program should be granted the type of flexibility used in the pandemic version. Some ECB policy makers have pushed back against that idea.

Pictet says it’s also possible the ECB could buy so-called fallen angels — securities that have seen their credit rating cut to below investment grade because of the crisis — in its private-debt programs. Junk bonds are currently ineligible.

BANK RELIEF
The ECB is proud of its six-year-old innovation of giving banks cheap long-term loans to spur them to keep credit flowing, so economists widely expect that to be key to the December package.

More funding rounds are seen as likely, as only one is planned in 2021, perhaps with even looser terms. JPMorgan and others think three more operations will be added next year, and the terms adjusted so that it’s easier for banks to get the lowest interest rate of -1%.

JPMorgan says the standards on the collateral deemed acceptable for the loans could be loosened to make it easier for banks to access them.

Such generosity will feed into another tricky debate though — whether banks should be allowed to resume paying dividends.

RATE-CUT RESISTANCE
One change that looks less likely is the once-standard central bank tool of an interest-rate cut. The policy rate is already at a record-low -0.5% and hasn’t been reduced at all during the pandemic, for fear of crimping bank profitability to the point that they make credit harder to get.

Those concerns have been mitigated by some exemptions from the negative rate — which works as a charge on bank deposits — and by the long-term loan program. ABN Amro sees a strong case for exemptions to be increased.

Still, Austrian central-bank Governor Robert Holzmann said on Friday that he doesn’t see a rate reduction as being effective, and economists reckon many of his colleagues will agree. Commerzbank is among the few that sees action, saying the ECB will probably cut by 10 basis points in combination with other measures.

DECEMBER TEASE
Mr. Holzmann was also keen to stress that policy makers will “perhaps have new instruments” — though he wouldn’t speculate on what they might be. Nor would his colleagues who spoke after Ms. Lagarde’s press conference.

One idea that surfaces occasionally, and has so far always been turned down, is to help strengthen banks by buying their debt. Patrick Perret-Green, head of research and strategy at AdMacro Ltd., says “it’s always struck me as strange that they’ll buy corporate paper and accept the credit risk but not that of banks.”

That still looks unlikely though. The ECB is also the supervisor for euro-area banks, and so risks running into a conflict of interest. — Bloomberg

Vista Residences launches Sky Arts Manila

VISTA RESIDENCES is looking to attract young professionals and entrepreneurs with its new residential condominium in Manila.

The condominium arm of Vista Land & Lifescapes, Inc. is developing Sky Arts Manila, a 45-storey tower that sits on a 3,750 square meters (sq.m.) of prime real estate. The company is currently pre-selling units at Sky Arts Manila.

Sky Arts Manila offers studio, one-bedroom and two-bedroom units with various layout options to address needs of unit owners.

“As with all Vista Residences properties, Sky Arts Manila boasts of indoor and outdoor amenities — swimming pool, fitness center, function rooms, landscaped gardens, to name a few — that let its future residents enjoy a well-integrated live-work-play lifestyle,” the company said.

Residents will be able to relish views of Manila Bay from West units and enjoy the Manila cityscape from South units. 

Sky Arts Manila is located near the central business centers of Makati, Bonifacio Global City, and Bay City. It is also a stone’s throw away from malls (Robinsons Manila, SM Manila and Mall of Asia Complex); educational institutions (University of the Philippines Manila, St. Paul University, Philippine Christian University and Philippine Women’s University); world-class hospitals (Manila Doctors Hospital and Philippine General Hospital); and entertainment and gaming complex (Entertainment City).

Cine Europa moves online

LIKE many film festivals, the Cine Europa film festival has also moved its 2020 installment — featuring 19 films from 20 European countries — online.

“This 23rd edition is different from the previous ones. Obviously, we’re in the midst of…[a] pandemic, but that has [led] us to go virtual like many other festivals this year,” Rafael de Bustamante, first counsellor of the European Union (EU) delegation to the Philippines, said in an online press conference on Oct. 30 via Zoom.

The online version of the festival celebrating European films is also meant to reach more people because it will be held online until Nov. 29 through the festival website, cineeuropaph.com.

“The novelty this year is we can bring more movies [and it will also] allow us to present a wide variety of European movies. Before, we used to get physical copies from member-states who are present in the Philippines, but now we can access repositories that we have with us,” he said before explaining that the films chosen for this festival are films “which rarely make it to commercial theaters.”

The festival opened on Oct. 31 with a by-invitation only screening of Sweethearts (2019) by Karoline Herfurth at the SM Mall of Asia Cinema by the Bay drive-in cinema, and a simultaneous online screening.

The German comic-thriller is about a thief and her easily-panicked partner who are running from both a relentless detective and the ruthless underworld.

Among the other films to be screened in the festival is the Austrian documentary She is the Other Gaze (2018) by Christiana Perschon. It tells the story of five female artists whose career started in 1970s Vienna and how their art is connected to feminism. Meanwhile Tel Aviv on Fire (2018) by Sameh Zoabi is a film from three countries — Belgium, France, and Luxembourg — about two people trying for a second chance at love after 40 years.

Another Belgian film, The King of Belgians (2016) by Peter Brosens and Jessica Woodworth, follows the journey of the titular character as he journeys through the Balkans, desperate to return home to save his country from its worst political crisis.

The Czech film Women on the Run (2019) by Martin Horsky, is about a matriarch who tries to fulfill her wish of running a 42-km marathon and does so with her family despite not having prior training and dealing with various issues.

Denmark’s Before the Frost (2018) by Michael Noer, tells the story, set in the 1850s, of a farmer facing starvation and looking for a better life for his family. He is given a choice between allying himself through marriage with another farmer or selling his land to a wealthy landowner.

Also from the Nordic region, Finland’s Lady Time (2020) by Elina Talvensaari is about a woman who ends up with a dead woman’s belongings and must come to the decision whether to throw them away or not.

From France comes Let the Girls Play (2019) by Julien Hallard, a film about the formation of the country’s first female football team which was inadvertently created by a sports journalist and an executive secretary for the same paper.

Another football film, Germany’s Too Far Away (2019) by Karoline Herfurth, tells the story of the friendship between a bullied German boy and a Syrian refugee.

Hungarian film Bad Poems (2018) by Gabor Reisz, follows a man who is dealing with heartbreak by wandering around his city and musing about love.

Italy’s Vice of Hope (2018) by Edoardo de Angelis, tells the story of Naples’ child trafficking issue and a woman having difficulty giving birth.

Jacob, Mimmi, and the Talking Dogs (2019) by Edmund Jansons is an animated film from Latvia and Poland about two kids spending summer in a city suburb where they meet a talking dog and embark on a mission to save a wooden house from reconstruction.

Another Latvian film, Mellow Mud (2016) by Renars Vimba, follows two orphaned siblings who must choose between living in an orphanage or living with a grandmother they hate.

The Polish film All These Sleepless Nights (2016) by Michael Marczak, is a documentary about a new era dawning in Warsaw and how two schoolboys figure this dawn into their own coming of age.

The Line (2017) by Peter Bebjak is a Slovakian thriller about the lives of traffickers and smugglers crossing from the Ukrainian border.

Spanish film Bunuel in the Labyrinth of Turtles (2019) by Salvador Simo is an animated film following Spanish filmmaker Luis Bunuel and artist Salvador Dali as they try to create a documentary about Spain’s poorest region.

And Then We Danced (2019) by Levan Akin tells the story of a Georgian dancer whose life is turned upside down with the entry of his rival whom he harbors a secret desire for.

Another animated film, My Life as a Zucchini (2016) Claude Barras from Switzerland, is about a boy sent to a foster home and, together with other orphans, learns the meaning of life, love, and family.

Finally, the Netherlands’ The Conductor (2018) by Maria Peters, is based on the life of the first woman who successfully conducted a large symphony orchestra, Antonia Brico. The film chronicles her love for music and the struggles she faced entering a world dominated by men.

To watch the Cine Europa films for free, register via https://www.cineeuropaph.com/cine-europa-23/registration/Site/Register. For the full screening schedule, visit cineueropaph. — Zsarlene B. Chua

‘Gritty and witty’: reactions to the death of screen legend Sean Connery

SEAN CONNERY, who has died at the age of 90, was known not only for movie roles including the British secret agent James Bond but also for his support of Scottish independence from Britain. Here are some reactions:

• Nicola Sturgeon, First Minister of Scotland — “Sean was a global legend but, first and foremost, he was a patriotic and proud Scot. His towering presence at the opening of the Scottish Parliament was a sign of his dedication to his country.

“He was a lifelong advocate of an independent Scotland and those of us who share that belief owe him a great debt of gratitude.”

• British actor Daniel Craig, a fellow James Bond — “It is with such sadness that I heard of the passing of one of the true greats of cinema.

“Sir Sean Connery will be remembered as Bond and so much more. He defined an era and a style. The wit and charm he portrayed on screen could be measured in megawatts; he helped create the modern blockbuster. He will continue to influence actors and film-makers alike for years to come. My thoughts are with his family and loved ones. Wherever he is, I hope there is a golf course.”

• James Bond producers Michael G. Wilson and Barbara Broccoli — “He was and shall always be remembered as the original James Bond whose indelible entrance into cinema history began when he announced those unforgettable words — ‘The name’s Bond … James Bond’.

“He revolutionized the world with his gritty and witty portrayal of the sexy and charismatic secret agent. He is undoubtedly largely responsible for the success of the film series and we shall be forever grateful to him.”

• Australian actor Hugh Jackman — “I grew up idolizing #SeanConnery. A legend on screen, and off. Rest In Peace.”

• Sam Neill, Australian actor and The Hunt for Red October co-star — “Every day on set with #SeanConnery was an object lesson in how to act on screen. But all that charisma and power — that was utterly unique to Sean. RIP that great man, that great actor.”

• British musician Elton John —  “A true screen legend.”

• US actor and politician Arnold Schwarzenegger — “Sean Connery was a legend, one of the greatest actors of all time. He provided endless entertainment for all of us & inspiration for me. I’m not just saying that because he was a bodybuilder who placed in the Mr. Universe contest! He was an icon. My thoughts are with his family.”

• Indian actor Abishek Bachchan — “We’ve lost another legend today. After watching Highlander I hoped he’d remain immortal. He will live on through his immense work. #RIP Sean Connery. There will never be a better Bond than you.”

• British actor Elizabeth Hurley — “RIP the glorious Sean Connery.”

• American actor George Takei — “Sean Connery was a movie legend, even far into his golden years. Our strongest Bonds were formed by him, and he was Untouchable. He passed today at age 90, a suave hero to the end.” — Reuters

Citicore solar powers Bench Tower

RENEWABLE energy firm Citicore Power, Inc. is now supplying clean energy to homegrown clothing brand Bench’s 22-storey headquarters in Fort Bonifacio, Taguig for its day requirements, according to a media release on Monday.

Citicore is supplying power to Bench from its solar plants during the day, a company representative told BusinessWorld in a text message. In the evening, the Bonifacio Global City-based store receives its power supply from the grid, it added.

The power demand of the Bench Tower is around 1 megawatt (MW).

“We thank Bench for entrusting us [with] their power needs, We are delighted to partner with Bench in advocating corporate sustainability” Citicore President Oliver Y. Tan said in a statement.    

The Citicore-Bench partnership started last Monday, and it was signed by Ground 18 Realty Corp. for Bench and Citicore’s retail electricity supply arm, Citicore Energy Solutions, Inc. (CESI).

The local retail brand’s move to transition to clean, renewable power is in line with its green initiatives implemented in its headquarters—such as having a rainwater collector, virtual wall garden, green pockets, and properly placed glass windows for natural light.

Citicore’s CESI got its electricity supply license from the Energy Regulatory Commission in January 2017. It is currently supplying a total of 55 MW to contestable customers.

Citicore’s unit Citicore Renewable Energy Corp. owns and operates eight solar farms across the country.

Earlier in August, the energy firm announced that it expected its unit to reach 238 MW by next year, as it detailed its plans to complete a 75-MW solar farm in Arayat and Mexico, Pampanga, in November. — Angelica Y. Yang

Insurers urged to digitize as consumers go online

INSURERS need to digitize quicker as more consumers in the so-called “discovery generation” who prefer shopping online are seen to increase to over 310 million in the next five years, a product consultant said.

Leigh Reyes, chief product consultant of marketing firm MullenLowe Philippines, said insurers can use mobile-based web links to show their digital product catalogues and connect consumers to financial advisors.

“You have your customers in your mobile chat tool WhatsApp and you send them the digital catalogue. When they want to order, you give them the URL and when they click, the agent gets a commission,” she said in a recent webinar organized by the Philippine Insurers and Reinsurers Association.

Ms. Reyes said this new kind of direct selling originated from global cosmetics firm Avon which sustained its sales despite the lockdown caused by the coronavirus pandemic.

A survey by Facebook and research firm Bain & Co. showed people shopping online could expand to over 310 million in Southeast Asia by 2025 or more than threefold from the 2018 level.

However, Ms. Reyes said this number will be bigger soon as the pandemic has forced people to learn and adopt technologies in a year from the usual capability shifting period of five years.

The survey published last year shows a minimum growth of 64% in online shopping in the Philippines, with 72% of Filipinos surveyed willing to try new or multiple brands. However, Ms. Reyes said insurance firms must race to innovate to get brand loyalty.

“If you want to try something, it will cost you less to try it now than later because then you’re not an innovator but a third, fourth, or fifth player. Brain-wise, people only can keep two names in their head. People are binary,” she said.

Innovation in the insurance industry can also include tools for customer reviews which Ms. Reyes said can help narrow down consumer choices and make a certain brand more memorable.

“Advertising is the price you pay for a poor product. A discovery generation is also a review-hungry generation. They’re not going to trust the brand first, they’re going to trust other people first. Somebody can come up with a rating system with customers actually putting ratings for each product,” she said.

The survey also showed 86% of Southeast Asians tend to compare products both offline and online before buying them. Ms. Reyes added it takes four positive reviews to bury a negative review of a product.

Philippine Insurers and Reinsurers Association Executive Director Michael F. Rellosa agreed that insurers need to innovate faster as he said many insurers are still “in shock” due to the pandemic.

“I think our industry is stuck. We’re still in the pre-change stage and so there’s a lot of catching up to do,” he said.

“The thing is there are many ways to innovate because it’s not only the product but the service. This is a warning to insurers because we do have new companies that are innovating,” Insurance Institute for Asia and the Pacific Executive Director Francisco D. Papa, Jr. added. — KKTJ

Condominium to rise in Timog Avenue

PH1 WORLD Developers is launching its first high-rise condominium project, located in Timog Avenue, Quezon City.

The affiliate of MySpace Properties, Inc. said it is developing My Ensō Lofts, “providing extra space at no extra cost.” The condominium will have 1,204 residential units.

“PH1 World Developers is a company driven to disrupt the conventions of property development in the Philippines to transform the way Filipinos live and work. With our newest project, My Ensō Lofts, we will deliver a condo that utilizes innovative engineering to provide homeowners with extra living space at no extra cost, right in the heart of Quezon City,” said Albert Ong, PH1 World assistant vice-president for business development.

Megawide Construction Corp. has been tapped for the construction of the high-rise tower. For My Ensō, a unique engineering solution to maximize unit space called AddLoft Technology will be used. Each unit will have a loft structure to maximize its high ceiling spaces.

Residents will have access to amenities including a co-working space, a rooftop garden, underground parking, as well as commercial and retail spaces on the lower floors. The building is also equipped with 24-hour security and keyless entry locks.

My Ensō Lofts is expected to be completed by the fourth quarter of 2025.

Entertainment News (11/03/20)

‘Sidequel’ of Kingdom series in the works

STREAMING entertainment service Netflix has confirmed the production of Kingdom: Ashin of the North, a continuation of the story that captivated the world and introduced a mysterious new character. Kingdom: Ashin of the North is a “sidequel” from Kingdom season two and a backstory about the mysterious character Lee Chang’s group encountered on their journey north to discover the origins of the infected. The surprising appearance of Gianna Jun in the role of Ashin at the end of Kingdom season two intrigued audiences. In this bonus story, Jun as Ashin will unveil the mystery behind her identity. Park Byung-eun is also confirmed to star. The new story will detail what had happened to Ashin in the past in the northern region and how the two characters’ fates intertwined. Kim Seong-hun, who directed Kingdom season one and oversaw the production for season two, will team up again with Kim Eun-hee, who scripted the first two seasons, to unravel the origins of the resurrection plant and the secrets behind the infected.

Find Bruce Lee in virtual mystery hunt

THE PUBLIC are invited to find a missing statue and solve the mystery in an online mystery hunt called Hong Kong Heist. Hong Kong Tourism Board (HKTB) has collaborated with Mystery Manila to design the game so visitors can experience and virtually tour Hong Kong’s most famous landmarks in a time where travel is not yet possible. With Hong Kong Heist, HKTB and Mystery Manila promise 45 minutes of mind-boggling puzzles as Manila’s sleuths traverse the Avenue of Stars and the streets of Hong Kong in search of Bruce Lee’s missing statue. Hong Kong Heist is now available to the public via Mystery Manila. Interested participants may book their slots through Mystery Manila’s official Facebook page or website.

PhilPop 2020 introduces 2nd batch of songs

THE PHILPOP songwriting competition returns with an eclectic set of new releases from the finalists of the Visayas cluster. Distributed by Warner Music Philippines, the homegrown tracks are now available on all digital and streaming platforms worldwide. The entries include “Suyo,” composed and interpreted by Noah Alejandre and Reanne Borela (also know as the duo reon), which features back and forth banter in Bisaya and Tagalog; “Hinungdan,” composed by Michael Catarina and interpreted by James Gulles, a song about a person who is having a hard time telling his feelings for someone; and “Ayaw Na Lang,” an “old-meets-new” kind of jam composed by Jerika Teodorico and interpreted by Lourdes Maglinte.

Alex Bruce drops new jam ‘Yakap’

THE 13-YEAR-OLD Filipina rapper/songwriter Alex Bruce has had a good year — “Mind As A Weapon” and “Pull It Off” have garnered more than a million hits respectively, and teamed up with global hitmaker August Rigo for the trap banger “Go Crazy.” The rapper has just released “Yakap,” a love song in hip-hop/R&B form. The song finds Alex Bruce dealing with her first-hand experience on puppy love and infatuation. The song was a three-way collaboration with her father Alex Bruce who is currently in Australia, and music producer Cursebox. The songwriting, recording, and production were done in a span of two weeks. “Yakap” is now available on all digital platforms worldwide via Sony Music Philippines.

Filipina singer-songwriter Meagan Trees releases ‘Take Me Away’

DUMAGUETE-based singer-songwriter Meagan Trees’ latest single, “Take Me Away,” reflects on the importance of being vulnerable and taking risks. The song was based on a late night adventure at the beach with a friend. The ethereal folk ballad is now available on all streaming and digital platforms worldwide via Lilystars Records.

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