Economists have slashed their 2020 outlook for the Philippines by more than any other Southeast Asian nation as it struggles with one of the region’s worst coronavirus outbreaks.
The forecast for the country’s gross domestic product dropped from a 6.1% expansion at the beginning of the year to an 8.9% contraction, a swing of 15 percentage points, according to the median of estimates compiled by Bloomberg. Thailand is second-worst, at 10.1 percentage points, followed by Malaysia’s 9.8 percentage points.
The Philippines central bank unexpectedly cut policy rates last week to help accelerate the economy’s disappointing recovery amid weak consumption and fiscal spending and as it grapples with the impact of back-to-back typhoons.
“The third-quarter and nine-month year-to-date data show an alarming lack of consumer demand that requires direct fiscal stimulus,” said Patrick Ella, a portfolio manager and economist at Sun Life of Canada Philippines Inc.
While Thailand has contained the spread of the virus, its tourism industry has been gutted by international travel restrictions while weak global demand and a strengthening baht have pummeled exports. The nation’s economy is forecast to shrink 7.1% this year.
Vietnam is expected to suffer the least from the pandemic, with its 2020 growth forecast revised down by 3.9 percentage points to 2.8%, outpacing the 2% forecast for China. — Cynthia Li and Ailing Tan/Bloomberg
The Philippines is close to concluding talks with Britain’s AstraZeneca for the supply of at least 20 million doses of its COVID-19 vaccine, a top coronavirus task force official said on Monday.
Carlito G. Galvez, Jr., the former general in charge of strategy to fight the coronavirus, said the government was also in talks with Pfizer Inc. and China’s Sinovac for vaccine supply deals.
Mr. Galvez said the government could enter into an advance market agreement with AstraZeneca before the month ends.
If negotiations with three drugmakers were successful, Mr. Galvez said in a televised briefing with President Rodrigo R. Duterte, the Philippines could lock in 60 million vaccine doses.
AstraZeneca said on Monday its COVID-19 vaccine could be as much as 90% effective, giving the world’s fight against the global pandemic a new weapon, cheaper to make, easier to distribute and faster to scale-up than rivals.
Mr. Galvez said the British government has offered to send military personnel to the country to help with roll out of vaccines, which may arrive in the country in the second quarter of next year.
Finance Secretary Carlos G. Dominguez III said in the same briefing the government was seeking 73.2 billion pesos ($1.52 billion) from the World Bank, Asian Development Bank, state-run banks, and bilateral sources to fund the purchase of the vaccines.
With its more than 108 million people and some of the highest numbers of COVID-19 infections in Asia, the Philippines is considered as both a suitable location for clinical trials and a large market for global vaccine manufacturers. — Reuters
New investment pledges are expected to be lower this year amid the pandemic. — REUTERS/ERIK DE CASTRO
THE Philippine Economic Zone Authority (PEZA) is aiming to approve more than P100 billion in investment pledges by the end of the year, led by a potential investor relocating from China.
“We might exceed more than P100 billion this year, with all these positive responses of our present investors and incoming investors,” PEZA Director General Charito B. Plaza in a press conference on Monday.
For the first 10 months of 2020, the agency reported P72.6 billion in new investment pledges, falling by more than a quarter from a year earlier.
The PEZA board approved another P14.6 billion worth of new investments during its board meeting earlier this month.
However, even if PEZA reaches P100 billion in new investment pledges, this would still be around 15% lower than P117.54 billion in investments approved in 2019.
Before the pandemic, PEZA aimed for 5-10% growth in new investment pledges this year.
Ms. Plaza said that the agency is in talks with an Israeli company that could transfer 16 of its facilities from China to the Philippines, while some companies already in PEZA ecozones are also looking to expand their current operations.
“We will first have an MoU (memorandum of understanding) and then we are helping them in finding the appropriate economic zone to locate their 16 branches,” she said.
Details on the company’s projects and industry have not yet been released.
Ms. Plaza said she is aiming to have all companies in PEZA economic zones to be operational by the end of the year.
As of Nov. 6, 87% or 2,627 companies on PEZA ecozones are operational, representing more than a million workers. The remaining 13% are non-operational companies with 432,747 employees.
More companies that remain non-operational are in Luzon, representing 14% of 2,560 companies. Meanwhile, 6% of the 409 Visayas-based companies are not operating and 7% of 46 Mindanao-based companies are non-operational.
Ms. Plaza in a press release last week said the competition from Southeast Asian neighbors in attracting investors transferring from China remains “tough,” noting the country’s underdeveloped infrastructure and logistics. — Jenina P. Ibañez
The coronavirus pandemic continues to dampen consumer confidence, even as the holiday season nears. — PHILIPPINE STAR/MICHAEL VARCAS
FORMER economic managers warned it might be too early to claim the “worst is over” for the Philippine economy, saying that quarantine restrictions should be further loosened to ensure a stronger and more inclusive recovery.
“It would be unrealistic to assume that we have already flattened the pandemic, and economic activities are on their way to recovery. A resurgence can reverse any initial gains,” Diwa C. Guinigundo, former Bangko Sentral ng Pilipinas (BSP) deputy governor, said in a forum hosted by think tank Stratbase ADR Institute on Monday.
Mr. Guinigundo noted a new wave of coronavirus infections is hitting the United States, as well as some countries in Europe and Asia that have reported early success in containment.
The Health department on Monday reported 1,799 new cases of coronavirus infections, bringing the total number to 420,614.
BSP Governor Benjamin E. Diokno and Socioeconomic Planning Secretary Karl Kendrick T. Chua recently said the “worst is over” for the economy after seeing signs of recovery.
Among the economic data cited are the balance of payment (BoP) surplus widening to $2.104 billion in September, and a 9.3% rise in cash remittances to $2.601 billion in the same month. Foreign direct investments jumped 35% to $797 million in July.
However, the economy remained in a recession, as gross domestic product (GDP) shrank by 11.5% in the third quarter.
“It is too early to claim victory over the deep recession. It would be too ambitious to expect them to resume the usual business activities. This is the essence of economic scars that take time to heal. Savings must have been drawn down, investments have ground to a halt and business activities will be difficult to be put on stream immediately, [since] output and jobs have been lost, while productivity will need time to gain momentum,” Mr. Guinigundo said.
In the same forum, former Socioeconomic Planning Secretary Ernesto M. Pernia said he expects fourth-quarter GDP to shrink by five percent as infections continued to rise and fiscal response remained low. He estimates GDP to contract by 8.5% for the full year.
The Development Budget Coordination Committee is set to revise its projections for the year. It currently expects GDP to shrink by up to 6.6% by yearend.
Mr. Pernia said fiscal stimulus should be further ramped up to help the economy bounce back faster, citing data from the Asian Development Bank that the country’s $21.65 billion spending on pandemic response is the lowest among its Southeast Asian peers: Indonesia, Malaysia, Singapore, Thailand and Vietnam.
“From the beginning, and even now, we can still spend enough to really get things going,” Mr. Pernia said.
Mr. Guinigundo said fiscal policy “should not be timid in this particular issue.”
He said the improvements in key sectors could be sustained by restoring business and consumer confidence, since the Philippine economy is largely driven by consumption. The government should lead the way through effective crisis management and response, he added.
“Unless this is effectively and credibly done, the economic scars of loss output, loss of jobs, businesses, weak consumer and business confidence, will continue to take their toll on future economic performance,” Mr. Guinigundo said.
At the House of Representatives, another bill proposing a third stimulus package has been filed.
House Bill No. 8059, or the Bayanihan to Rebuild as One Act (Bayanihan III), proposes to allocate P247 billion in emergency response and economic recovery programs.
House Ways and Means Chair and Albay Rep. Jose Maria Clemente S. Salceda, the bill’s co-author, said a third stimulus package is necessary to ensure that the crisis does not “eat up too much of our economic structure.”
“It is very hard to recover when so many businesses have already closed for good,” he said in a statement, adding the Bayanihan III is “the necessary booster shot so we can truly begin recuperating in 2021.”
“The Executive can make their concerns known, and we will take them into consideration. They can even give us a fiscal limit to work on. But what we cannot accept is the idea that we have spent enough in 2020. That may have been barely true if the recent calamities did not strike. But the sheer fact is that more people have gone into poverty this year than we expected,” Mr. Salceda said.
“Finance Secretary Carlos Dominguez does not have to worry about fiscal discipline on the part of the House. If there is only so much in Bayanihan III that the government can afford, we will cooperate. But it cannot be zero.”
House Stimulus Committee Chair and Marikina Rep. Stella Luz A. Quimbo earlier filed her own version of the Bayanihan III bill, which would require an allocation of P427 billion. — Beatrice M. Laforga and Kyle Aristophere T. Atienza
SOUTH KOREA granted $100 million worth of loans to the Philippines to boost its war chest against the coronavirus disease 2019 (COVID-19) pandemic. — REUTERS
SOUTH KOREA is looking to expand investments in the Philippines, but expressed concern over the country’s “high” corporate income tax rate, according to the Department of Finance (DoF).
A DoF statement said South Korean Ambassador to the Philippines Han Dong-man expressed concern over the country’s current 30% corporate income tax (CIT) rate during a recent meeting with Finance Secretary Carlos G. Dominguez III.
Mr. Dominguez assured Mr. Han that the proposed Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill aims to immediately cut CIT by five percentage points to 25% this year, and by an additional one percentage point every year until it hits 20%.
The CREATE bill is still pending in the Senate.
Mr. Han said the two countries should explore investment opportunities involving the manufacturing of environment-friendly vehicles, since the Philippines is among the world’s largest producers of nickel. Nickel is a key component in electric car batteries.
South Korea also committed to providing more funding support for the Philippines’ infrastructure projects.
Mr. Dominguez said the South Korean government “expressed willingness” to grant financial assistance for the proposed P65.7-billion Panay-Guimaras-Negros Bridge Project in Visayas.
He said the Philippine government affirmed its plan to advance the processing of the South Korean loans and grants in the pipeline.
This includes possible additional loans for pandemic response and more funding to support projects on maritime safety, water resources management information system, agricultural modernization and forest management.
Last month, South Korea granted $100 million (P4.8 billion) worth of loans to the Philippines to boost its war chest against the coronavirus disease 2019 (COVID-19) pandemic.
In January, South Korea also provided a $50-million (P2.4-billion) loan for the Philippines-Korea Project Preparation Facility that will fund feasibility studies and various preliminary activities for infrastructure projects under the “Build, Build, Build” program.
Mr. Dominguez also sought South Korea’s support to create a framework agreement needed to process tied financing in buying military equipment for the Department of National Defense (DND).
South Korea is ready to extend the financial support needed by the Philippines for its projects and COVID-19 response, said Mr. Han.
He also assured that the two nations are already in the final stages of negotiations on the proposed Philippines-Korea free trade agreement.
South Korea is the Philippines’ fifth-biggest source of foreign funding with ongoing loans and grants amounting to $680 million (P33 billion) as of June.
As of Oct. 2, the government has secured $9.91 billion (P480 billion) worth of loans and grants from its bilateral and multilateral partners for its coronavirus pandemic response. — B.M.Laforga
THE REGULATORY office of the Metropolitan Waterworks and Sewerage System (MWSS) ordered west zone water concessionaire Maynilad Water Services, Inc. to explain and fix the service interruptions and turbidity issues in its water supply after the onslaught of Typhoon Ulysses.
In a statement on Monday, MWSS Chief Regulator Patrick Lester N. Ty said Maynilad is expected to send an official explanation within the week about the rotational water service interruptions and the sudden jump in complaints concerning the poor water quality coming out of customers’ faucets.
“The concessionaire is also expected to propose solutions that should prevent the recurrence of these issues with future typhoons,” Mr. Ty said.
MWSS said that on Nov. 12, Maynilad issued advisories regarding rotational water service interruptions that were caused by the lower water output in the provider’s treatment plants in La Mesa resulting from the inflow of turbid water from Ipo Dam.
Mr. Ty said MWSS issued two “notices to explain” to Maynilad on Nov. 16 and Nov. 20 for the concessionaire’s failure to advise the customers to store water and brace for possible service interruptions prior to the typhoon; the increase in complaints on the “poor aesthetic quality” of water; and the water provider’s failure to comply with the schedule on announced water service interruptions.
According to MWSS, the notice given on Nov. 16 also directed Maynilad to ensure that affected customers will not experience low or no water pressure for more than one day.
“The MWSS regulatory office assures affected customers that their interest is prioritized as the agency investigates the matter. The agency will protect, first and foremost, the welfare of the public in light of these issues,” Mr. Ty said.
Jennifer C. Rufo, Maynilad head of corporate communications, said in a mobile phone message that the company would cooperate with the directive of the MWSS.
“We will respond to our regulators, and we will cooperate,” Ms. Rufo said.
In a recent service update, Maynilad has assured its customers that clearing operations in its facilities continues and sludge from all of its basins will be removed by Nov. 24.
“We apologize to our affected customers for the inconvenience this has caused. Know that we are working non-stop to restore our operations affected by Typhoon Ulysses,” the water provider said. — Revin Mikhael D. Ochave
AIRASIA Group Berhad continues to focus on survival and restructuring, as travel behavior is expected to return to normal by 2022, its top official said.
“If there’s a crisis, there are opportunities, and we feel it’s a great chance to restructure, reenergize and come back stronger. I believe 2021 will be a much, much better year than 2020. I’m anticipating that by June, things will begin to normalize. By 2022, we’ll start to see normal behavior coming out,” AirAsia Group Chief Executive Officer Anthony Francis “Tony” Fernandes said at Go Negosyo’s online conference on Monday.
The group currently focuses on “survival” and “being positive” amid the ongoing global health crisis, Mr. Fernandes added.
“It’s also about restructuring our business. It’s about cash. It’s about helping those within the ecosystem—it’s about re-pivoting, and that’s what we have been doing,” he continued.
AirAsia also announced on Monday that its logistics venture, Teleport, has completed the rollout of its delivery services in 70 cities in Southeast Asia, including Manila, Bacolod, Cebu, Davao, General Santos, Iloilo, Kalibo, Puerto Princesa, Tacloban, Tagbilaran, Clark, Cagayan de Oro, and Zamboanga, “over the last 30 days.”
“Businesses in any of these 70 cities can now partner with Teleport to have items instantly delivered to their customers within one hour,” it said in a statement.
Teleport Chief Executive Officer Pete Chareonwongsak said, “Soon, businesses can experience 24-hour express deliveries between cities as well as cross-border deliveries.”
“The goal is by next year, with a click of a button, you can send almost anything instantly to anywhere AirAsia flies to,” he added.
The group is banking on its digital business to help its airline operations recover from the impact of the coronavirus pandemic.
In September, AirAsia Group Executive Chairman Datuk Kamarudin Meranun said the airline group expects its digital segment to become “another core business.” — Arjay L. Balinbin
TYPHOON-AFFECTED areas such as the Bicol Region, Isabela, and Cagayan provinces will have ample supply of cement products to start the rehabilitation of infrastructure and houses, cement makers said on Monday as they dismissed the possibility of any shortage.
In a statement, Cement Manufacturers Association of the Philippines (CeMAP) said its member companies are finding workarounds on the transport issues posed by damaged roads and infrastructure due to consecutive typhoons.
As a result of the wide-scale damage to infrastructure and houses caused by the typhoons, the group said rehabilitation efforts would create higher demand for construction materials.
“The need to rebuild and repair will result in an increased need for construction materials, including cement, in Regions 2 (Cagayan Valley) and 5 (Bicol Region),” the group said.
Citing news reports, the group said Typhoon Rolly had damaged more than 137,000 houses in Albay and Catanduanes.
“In the worst hit province of Catanduanes alone, the super typhoon affected 35,000 families, destroyed 10,000 houses and severely damaged 19,000 others,” the group said.
CeMAP also said that in Region 2, the government reported that damage caused by Typhoon Ulysses to infrastructure amounted to P5.91 billion.
Meanwhile, the group said its member companies are also preparing their relief response efforts and corporate social responsibility projects for Cagayan, Isabela, and Bicol Region.
“CeMAP is one with the nation in the rebuilding efforts in these severely damaged areas,” the group said.
“Cement is considered a prime commodity and domestic production plays a vital role in keeping domestic economies vibrant by creating jobs and generating tax revenues both directly and through its ancillary industries,” it added. — Revin Mikhael D. Ochave
FINANCIERS of renewables are able to limit their financial risks, because they can invest in smaller amounts on those projects, the head of one of the fastest growing Philippine energy companies said on Monday.
“The advantage of renewables, I should say, is that you can do your investments in digestible, reasonable chunks, unlike a large scale thermal plant where you typically invest billions of dollars,” AC Energy, Inc. President and Chief Executive Officer Eric T. Francia said.
“With renewables, you can invest in hundred or two hundred million dollar at a time (and) that manages or limits your risk,” he said, during a webinar organized by the Philippine Energy Independence Council and the European Chamber of Commerce of the Philippines.
Last week, Mr. Francia disclosed to reporters that AC Energy is planning to sell its stakes in its coal-fired power plant projects in line with its vision to generate more than half of energy from renewables by 2025.
He also shared that the Ayala-led firm was able to raise $300 million in green bonds last week. Green bonds are fixed-income instruments that are tapped to raise money for projects related to climate and environment.
During the webinar, he expressed concern on the possibility that no one will want to invest in the energy sector if the market experiences a sudden rebound amid the new normal.
“My concern is that we go to the extreme that nobody invests and we will suddenly have a shortage in 2023 (or) 2024, if the market rebounds sooner and stronger than expected. At least, we can hedge up a bit by having measured investments on the renewable space,” Mr. Francia said.
The AC Energy executive encouraged potential users and investors to make the most of the lower rates being offered by monetary authorities.
Shares in Ayala Corp. on Monday went down by 0.58 % to close at P850 each. Those of its unit AC Energy Philippines, Inc., which makes up the firm’s local energy projects, surged by 8.97 % to finish at P6.32 apiece. — Angelica Y. Yang
DDMP REIT, Inc. has submitted an application to the Securities and Exchange Commission (SEC) for a real estate investment trust (REIT) offer.
The firm, formerly known as DD Meridian Park Development Corp., on Monday submitted to the SEC its REIT plan to sell to the public 5,942,488,469 common shares at P2.25 apiece, with an over-allotment option of up to 594,248,847.
The shares include existing common shares offered by DoubleDragon Properties Corp., Benedicto V. Yujuico and Teresita M. Yujuico.
The company will not receive proceeds, but total proceeds to be raised in the sale of offer shares will be around P14.7 million. Selling shareholders will receive a net of P14.2 million, with the full exercise of the over-allotment option.
The offer shares will represent around 36.67% of the issued and outstanding capital stock of the company after the offer is completed, assuming that the over-allotment option is fully used.
Shares amounting to 17,827,465,406 will be outstanding after the firm offer.
The company’s property portfolio includes three commercial properties with six office towers that have retail businesses – DoubleDragon Plaza, DoubleDragon Center East, and Double Dragon Center West. — Jenina P. Ibañez
REAL ESTATE developer Bria Homes is continuing to expand its portfolio of housing developments.
In a statement, Bria Homes said it will soon launch “vertical villages,” which it described as a cluster of mid-rise residential condominiums targeting small families and young professionals.
The developer said the vertical villages will offer amenities such as a communal clubhouse with function halls, swimming pools, play areas, and complete gym facilities.
Bria Homes will also launch a series of smaller pocket developments called Bria Cityville in Montalban, Rizal, and Danao, Cebu.
Bria Cityville offers house-and-lots, targeting Filipino professionals looking to live just outside of Metro Manila.
For those who need more space for expansion, the developer is introducing Bria Executive. These exclusive communities will be located next to existing Bria communities in Cagayan de Oro; Maco, Davao de Oro; Pililla, Rizal; and Naga, Camarines Sur.
“As in all Bria projects, these new product lines will bear the features and elements that mark Bria communities as Filipinos’ homes of choice: proximity to schools, hospitals, and retail establishments; recreational amenities such as basketball courts, multi-purpose halls, and eco-friendly spaces; and security facilities like 24-hour CCTV cameras, perimeter fences, and guarded entrances and exits,” the company said.
Bria Homes is a subsidiary of publicly listed company Golden Bria Holdings, Inc.
NAME CHANGE On Monday, Golden Bria told the stock exchange its board of directors approved the move to change its corporate name to Golden MV Holdings, Inc.
The company, led by tycoon Manuel B. Villar, Jr., said it would seek the stockholders’ approval of the amendment to its articles of incorporation by way of written assent. Forms will be sent to stockholders.
For the written assent solicitation, the board set the record date on Dec. 10, 2020.
‘WAKE CONNECT’ Meanwhile, Golden Haven Memorial Parks, Inc., another subsidiary of Golden Bria, launched the first and only real-time interactive wake viewing in the country.
Through “wake connect,” bereaved families can attend their kin’s wake and funeral services through Golden Haven’s official website.
A virtual tour of the memorial park is also available on the Golden Haven website. Prospective buyers can check out the features of Golden Haven’s properties.
Current clients can now make reservations, schedule park visits, and pay bills on the website or access QR codes posted on Golden Haven’s official Facebook page.
“These are trying times for everyone. But Golden Haven rises to the occasion by providing efficient digital services to our clients. The same Alagang Golden philosophy that makes us a leading name in the Philippine deathcare industry is set to ensure that our clients may honor memories of their dearly departed under any or all circumstances,” Rizalito “Red” J. Rosales, chief operating officer of Golden Haven, said.
FOLLOWING on the heels of several local film festivals that have opted to go for digital — or hybrid — screenings, the Quezon City International Film Festival (QCinema) will likewise be showing its films online, although it will have a physical screening of its opening film, the black-and-white version of Bong Joon-Ho’s Oscar award-winning film Parasite (2019).
“We’re lucky that its producers agreed for it to have a theatrical screening here,” Eduardo J. Lejano, the festival’s director, said during a press conference on Nov. 16 via Zoom.
He described the opening film, which premiered at the Rotterdam Film Festival in January, as an “entirely different experience” even for people who already watched what is the first foreign language film to win Best Picture at the 2020 Academy Awards. The monochrome version of Parasite will be shown on Nov. 27 and 28 at the Gazebo Royale Events Place in Quezon City. The screenings are by-invitation only.
QCinema will run from Nov. 27 to Dec. 6 online via the Filipino streaming service Upstream. The Metro Manila Film Festival in December will also be using Upstream as its streaming partner.
And because the pandemic has halted or made it incredibly difficult for films to be produced this year, QCinema (like Cinemalaya) will be featuring it’s past Best Picture winners alongside foreign films instead of original films like the QCinemas of the past.
Among the former Best Picture winners that will be screened this year are Glen Barit’s Cleaners (2019), Dwein Baltazar’s Oda sa Wala (2018), and Khavn dela Cruz’s Balangiga Howling Wilderness (2017). Also screening in this year’s QCinema is Rae Red’s Babae at Baril (2019) which recently won the Gawad Urian Best Picture and a slew of other major and technical awards.
As QCinema is normally held in October, Mr. Lejano said that they had been hoping that the cinemas — which have been closed since the start of the coronavirus disease (COVID-19) pandemic — would be allowed to open that month. But since they were not, QCinema made a shift to the digital realm.
“Like many other film festivals around the world, we’ve had to adapt to the unprecedented challenges of 2020. Factoring in safety concerns and restrictions, we’ve decided to follow the global trend of staging a hybrid film festival,” Mr. Lejano explained.
“We were changing plans as we went along because we were waiting for the government to announce MGCQ (modified general community quarantine),” Mr. Lejano said. “We were also hoping, just like the organizers of the Metro Manila Film Festival (MMFF), that the cinemas would open in time for QCinema. The festival used to be held every October, but we had to move it to late November.”
In another departure from the norm, Mr. Lejano said that this year they are presenting a smaller number of movies — 20 films instead of the 70 to 80 films the festival normally shows. But while the number of films have been decreased Mr. Lejano said that they tried to find films that would suit everyone’s taste.
QCinema will be hosting the Asian premiere of Lav Diaz’s Genus Pan (2020), the Southeast Asian premieres of the Peruvian drama Song Without a Name (2010) by Melina Leon, and the Brazilian film Divine Love (2019) by Gabriel Mascaro.
Mr. Diaz’s Genus Pan, a film that shows how much human beings are like animals, was the only Philippine entry at the 2020 Venice Film Festival. Mr. Diaz received the Best Director Award at the festival.
Other films that will be screened at QCinema are Vietnamese film Rom (2019) by Tran Thanh Huy, Hong Kong’s Suk Suk (2019) by Ray Yeung, and Polish film Corpus Christi (2019) by Mateusz Pecewicz.
Mr. Lejano admitted that it was difficult for them to get the digital screening rights for the festival films and that they had to assure the distributors that Upstream is completely safe and secure.
Aside from the screenings, QCinema will also have a ceremonial turnover of COVID-19 assistance grants it will give to the Inter-Guild Alliance to help industry workers affected by the pandemic. They will also be announcing the winners of the COVID Completion Grant at the opening ceremony on Nov. 27. The grant is given to select independent films that were forced to halt production during the lockdowns.
QCinema runs from Nov. 27 to Dec. 6 via Upstream.ph. Each film is priced at P150 and a limited number of tickets will be released per film starting Nov. 24. Bundles are also available at P750 for access to five films and QCinema-branded items. For more information, visitqcinema.ph and its official social media pages. — Zsarlene B. Chua
