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2GO Group bullish on tourism in second half

2GO Group, Inc. anticipates a spike in travel demand in the second half of the year as tourist destinations reopen amid the vaccine rollout.

“We understand the public’s yearning to travel post-pandemic, especially from younger generations who are willing to travel sooner rather than later,” 2GO Assistant Vice-President Blessie Cruz said in an e-mailed statement on Monday.

The company encouraged customers to “firm up” their travel plans in the second half of 2021, “as domestic tourism reopens and more locals are getting vaccinated against the COVID-19 (coronavirus disease 2019).”

To recall, the Philippine tourism industry’s contribution to the economy plunged to its lowest level in at least two decades in 2020.

Preliminary data compiled by the Philippine Statistics Authority showed tourism’s direct gross value added accounted for 5.4% of gross domestic product (GDP) last year, down from 12.8% of GDP in 2019.

“Admittedly, a setback in an industry that was flourishing before the COVID-19 pandemic, the dismal figures reflect the gargantuan challenge that the DoT (Department of Tourism) and the entire tourism industry are faced today,” the Tourism department said in a statement.

2GO also introduced on Monday its “Unli-Trip” offering to Boracay, Cebu, and other local destinations.

“Starting today until July 15, 2021, passengers can avail Unli-Trip tickets for sailing on Sept. 1 to Dec. 31, 2021. The all-in rate of P1,059 with a base fare of P299 is applicable to Super Value Class and Tatami accommodations, inclusive of 50kg baggage allowance, surcharge, insurance, and exclusive of meals,” it said.

“Passengers can book their travel tickets in all 2GO retail outlets nationwide. Meanwhile, a service fee is charged on top of the rate when tickets are bought from authorized agents,” it added.

2GO’s promo covers all its destinations from Batangas to Caticlan and Roxas, including Manila to Bacolod, Cagayan de Oro, Cebu, Coron, Dumaguete, Iloilo, Puerto Princesa, Butuan, Iligan, Ozamiz, Zamboanga, and vice versa.

The Tourism department said that “for the next two years, the Philippines will be positioned as a ‘safe, fun, and competitive destination’ rooted in strong partnerships with communities and visitors.”

“This will be achieved by developing and marketing portfolio of products that harness the natural and cultural endowments to benefit the present and future tourism generation,” it added. — Arjay L. Balinbin

Petron plans shelf registration of P50-B fixed-rate bonds

PETRON Corp. will be filing a registration statement with the Securities and Exchange Commission (SEC) for the shelf registration of up to P50-billion fixed-rate bonds, the oil company told the stock exchange on Monday.

Petron said the bonds will be offered to the public in tranches, with the first offering and issuance worth up to P18 billion.

It will file for the registration statement, prospectus, and offer supplement with the SEC, as well as a listing application with the Philippine Dealing & Exchange Corp.

The executive committee of its board of directors gave the company a go signal in a meeting held on Monday.

The committee also greenlighted the assignment of BDO Capital & Investment Corp. as the sole issue manager.

It also approved of the appointment of BDO Capital, China Bank Capital Corp., Philippine Commercial Capital, Inc., PNB Capital and Investment Corp., and SB Capital Investment Corp. as joint lead bookrunners and joint lead underwriters, as well as other banks that may be invited for the issuance of the first tranche of the bonds.

On Monday, shares of Petron at the stock exchange went up by 7.78% or 26 centavos to close at P3.60 each. — Keren Concepcion G. Valmonte

Cebu Landmasters generates P5.2-B sales in second quarter

CEBU Landmasters, Inc. (CLI) recorded a 13% growth in sales to P5.2 billion in the second quarter, the company disclosed on Monday, calling its performance a signal to future income streams.

“Our robust sales performance indicates CLI’s income streams in the near future. We have been working hard for this kind of growth trajectory,” Jose R. Soberano III said, referring to the company’s growth target of 15% to 20%.

In the same period last year, the Cebu-based property developer’s sales reached P4.6 billion.

For the first six months of the year, Cebu Landmasters recorded a 14% increase in reservation sales to P8.5 billion from 7.4 billion as housing demand was sustained in the Visayas-Mindanao, or Vis-Min, region.

The company launched six projects during the six-month period in Ormoc, Cebu, and Iloilo. Its Velmiro Heights project in Cagayan de Oro is now 83% sold, while its Mandtra Residences in Cebu is 82% sold out.

In Iloilo City, its premium Terranza Residences sold out 81% of its inventory in three months from April.

Its projects in Cebu accounted for 29% of its sales, Iloilo developments contributed 27%, and Cagayan de Oro made up for 20% of the sales, while sustained sales from Davao, Bacolod, Dumaguete, Bohol, and a new expansion area in Ormoc accounted for the balance.

Cebu Landmasters said its economic housing offers accounted for 41% of the sales in the first half of the year, while the mid-market segment made up for 38%, and sales from its high-end developments accounted for 21%.

The company is expecting its momentum to be sustained for the rest of the year “with fresh inventory to be launched” using its existing land bank.

“Meanwhile, land purchases in key growth areas to secure a new pipeline of revenue streams are on the drawing board and are expected to be closed in the coming months,” the property developer said.

Stocks of Cebu Landmasters at the local bourse were up by 1.35% or five centavos on Monday, closing at P3.75 apiece. — Keren Concepcion G. Valmonte

Locad raises $4.9M in seed round to help expand PHL logistics infra

LOGISTICS and supply chain management integrator Locad is looking to strengthen logistics infrastructures in the Philippines after it raised $4.9 million in seed funding.

“With this funding, Locad is set to strengthen the logistics infrastructures in the Philippines and in Southeast Asia and provide businesses with top-of-class service in e-commerce fulfillment,” Locad Chief Executive Officer and Co-Founder Constantin Robertz said at a virtual press briefing.

Venture capital company Sequoia Capital India’s Surge led the seed round with participation from Antler, Febe Ventures, Foxmont, Global Founders Capital, Gokongwei Family, and Hustle Fund.

Locad will use the investment to expand its platform and fulfillment network.

“Many vendors, producers, and sellers are migrating to digital services but are still hampered in delivering their products to their customers,” Mr. Robertz said. “They also lack infrastructure, resources, and experience in managing both online services and their own supply chain.”

Mr. Robertz noted the e-commerce sector faces several challenges, including long delivery periods, delays in shipping, inability to deliver to far locations, high shipping costs, lack of storage space, and irreconcilable inventory levels.

He said Locad can simplify e-commerce logistics through its “distributed and flexible” warehousing network, all-in-one platform for managing multiple stores and inventory pools, and automated order fulfillment.

Locad was founded in Manila in October last year. It also has offices in Australia, Hong Kong, and India.

The company said its mission is to “level the playing field in direct-to-consumer commerce by giving brands small and large access to an integrated, distributed and flexible supply chain network that is simple yet scalable.” — Arjay L. Balinbin

ERC to PCCI members: use your own power generators

THE Energy Regulatory Commission (ERC) has asked the Philippine Chamber of Commerce and Industry (PCCI) to urge its members to use their own generators to avert power interruptions while augmenting limited supply.

“We seek the assistance and support of the PCCI to encourage their members, especially the commercial and industrial customers, to participate in the ILP (interruptible load program) to help augment the limited power supply considering the possible power interruptions in the coming months,” ERC Chairperson and Chief Executive Officer Agnes VST Devanadera said in a statement on Monday.

The ILP calls on large power users with their own generating facilities to voluntarily not draw power from the grid when supply is tight. The Department of Energy (DoE) works with distribution utilities and electric cooperatives to implement the program.

Rolling out the ILP is one of the immediate actions that can address the projected supply deficiency in the upcoming weeks, the ERC said, citing the DoE’s power outlook.

Left unaddressed, the commission said the tight supply conditions may lead to yellow and red alerts — the grid operator’s warning of thinning power reserves.

National Grid Corp. of the Philippines issues a yellow alert when reserves fall below ideal levels. This is subsequently downgraded to a red alert if the supply-demand balance worsens. According to the Energy department, red alerts triggers rotating “brownouts.”

From May 31 to June 2, the Luzon grid was placed under a spate of yellow and red alerts due to forced plant outages, thinning reserves and higher temperatures.

BusinessWorld reached out to PCCI for its thoughts on ERC’s statement, but the group has not yet replied as of press time. — Angelica Y. Yang

Samal’s prime resorts ready for new tourism landscape

Chema’s By The Sea is a beach resort located in the Island Garden City of Samal, Davao del Norte. — COMPANY HANDOUT

By Maya M. Padillo, Correspondent

WHILE THE travel industry continues to be squeezed by coronavirus-prompted restrictions, two of Samal island’s pioneer prime resorts have adopted changes to cater to the transformed tourism landscape.

Chema’s By The Sea, for one, has tapped Discovery Hospitality Corp. (DHC) for its allied services on reshaping operations given new health protocols and service standards.

DHC provided Chema’s owner, Poseidon Holdings Corp., with expert guidance on modifications for food and beverage, using information technology and digital marketing, human resources, housekeeping, and operational management.

DHC Senior Vice-President and Head of Sales and Operations Cathy Nepomuceno said the company is not taking over the management of Chema’s. 

“The project is just to provide assistance to the new team in terms of re-opening,” she said.

DHC will be managing the upcoming Discovery Samal through an agreement with Samal Shores, Inc. The resort, which will be located on a five-hectare complex, is expected to open next year.

Chema’s, a quaint resort that is also known for its gardens, has started offering day trips, apart from overnight, weekend or long-stay holidays.

“Spending days at Chema’s By The Sea is just heartwarming… For us, it’s all about setting the direction and build the essence of the resort through the different individuals that make up this resort,” DHC Chief Operating Officer and Discovery World Corp. President Jose Parreño said in a statement.

Chema’s has cottages and bigger cabin-type accommodations for groups and families, all with exclusive spaces. It provides boat transfers from Davao City, which is just a 10-minute ride.

PEARL FARM
Pearl Farm Beach Resort, one of the first top-end destinations in Samal, is using technology as part of its recalibrated operations to ensure the observance of health safety standards. 

The resort of the Floirendo family’s ANFLOCOR group now has a “virtual concierge,” which handles food orders and requests for assistance by guests.

“We started the applications… to prevent physical interaction, using a QR code for a contactless transaction,” Pearl Farm Vice-President and General Manager Josu Mikel Villaverde said in an interview.

Mr. Villaverde said one of the biggest advantages of the resort — and beach destinations in general — is that they offer nature and outdoor activities. 

“It is outdoor and there is nothing safer than this kind of set up. You just open a door and you are in a room and open a sliding door and you are outside already. Refreshing natural ventilation,” he said.

“The risk is minimal when you are with nature,” he added.

Pearl Farm, located further southwest of Samal, is a 45-minute boat ride from the company’s own marina in Davao City.

Actress Bea Alonzo transfers to GMA Network

ACTRESS Bea Alonzo (R) talked about her farm life in Zambales during the pandemic with Jessica Soho during the July 4 episode of Kapuso Mo, Jessica Soho on GMA-7. Ms. Alonzo signed up with GMA Network last week.

FILIPINO-British actress Bea Alonzo will explore new opportunities after signing a contract with GMA Network. Ms. Alonzo sealed the contract with the network on July 1.

Prior to joining GMA Network, Ms. Alonzo worked with beleaguered rival network ABS-CBN where she starred in primetime dramas and in ABS-CBN produced films such as One More Chance, The Mistress, A Second Chance, and Four Sisters and a Wedding.

The pandemic, Ms. Alonzo said, gave her the time to “think and reflect on the things about my life,” adding that she wants “to take on new possibilities and challenges.”

Ms. Alonzo said she looks forward to working exploring new projects such as hosting a talk show, guest starring at the network’s sitcoms, and working with Kapuso artists.

“I am beginning to rediscover myself again. I am going to make new friends. I am going to meet new people and collaborate with new people. That is such a huge blessing for someone like me who loves to do what I’m doing,” Ms. Alonzo said at an online press conference on July 1 held via Zoom and livestreamed through Facebook.

Ms. Alonzo is scheduled to film a movie with GMA Network contract star Alden Richards.

They will star in the Philippine adaptation of the Japanese television drama Pure Soul. The film is co-produced by Viva Films, GMA Pictures, and APT Entertainment.

“And this time I will be introduced to a totally new audience. And I just hope that magustuhan nila yung gagawin ko (I just hope the audiences will support what I work on),” she said. “My purpose is to really to touch lives and to do characters that will resonate with a lot of Filipinos.” — MAPS

New Rockwell Centers to rise in Angeles and Bacolod cities

E-ROCKWELL.COM/ROCKWELL-IN-NEPO-ANGELES

ROCKWELL LAND Corporation is planning to launch two flagship projects in Angeles, Pampanga and Bacolod.

The Lopez-led property company is investing P8.5 billion to develop Rockwell Center Nepo, Angeles.

The 3.6-hectare project, a joint venture with the Nepomuceno family, is expected to be launched within July with the first tower — The Manansala. This will be the first Rockwell Center outside of Makati City.

“We are excited to be part of the skyline of Angeles, Pampanga. Once the project is completed, the community will feature four mid-rise residential buildings and its very own Power Plant Mall,” Rockwell Land President and CEO Nestor Padilla said in a statement.

The company is also developing Rockwell Center Bacolod, a 30-hectare master-planned project. Phase 1, comprised of commercial lots, will be launched by yearend and is expected to generate P1.4 billion in revenues.

Other projects to be launched this year include Sillion Building at 32 Sanson in Cebu, The Villas at Aruga Resort and Residences — Mactan Phase 2, Terreno South Phase 3 in Lipa, Batangas, Nara Residences Lots in Bacolod, The Arton East Tower in Katipunan, Quezon City, and The Balmori in Rockwell Center, Makati.

“We remain optimistic to launch several projects, especially with the continued trust our clients have given our brand after seeing how we all handled the first year of the crisis,” Mr. Padilla said.

Robinsons Land expands Metro East mall to connect to LRT-2

ROBINSONS Land Corp. said on Monday that it will be connecting its Robinsons Metro East mall to the Marikina station of the Light Rail Transit Line 2 (LRT-2).

Inspired by Hong Kong’s interconnected malls via MRT and London’s “hop-on, hop-off” retail experiences via train, Robinsons Land’s The Link will connect the mall to LRT-2 and will feature “grab and go” shops.

“Located on the second level, The Link will have a mini-grocery, drugstore, optical shops, bank, grab-and-go food kiosks, and pasalubong (souvenir) shops for your last-minute shopping,” Robinsons Malls Regional Operations Director Myron Yao said in a statement on Monday.

The Link will span around 4,000 square meters.

Robinsons Land said it will also have medical and wellness facilities on the mezzanine area, as well as an elevator to cater to persons with disabilities.

It will also feature Korean store No Brand and Pet Lovers Center.

On Monday, shares of Robinsons Land at the stock exchange went up by 1.02% or 18 centavos to close at P17.88 each. — Keren Concepcion G. Valmonte

Vietnam orders Netflix to remove Australian spy show over South China Sea map

NETFLIX

HANOI, July 2 — Netflix, Inc. has removed Australian spy drama Pine Gap from its services in Vietnam after a complaint from broadcast authorities in the Southeast Asian country about the appearance of a map which depicts Chinese claims in the South China Sea.

The map, which briefly features on the screens of a control room at a spy base in two episodes of the six-part show, depicts China’s unilaterally declared “nine-dash line” and is displayed within the context of maritime claims in the region.

“Netflix’s violations angered and hurt the feelings of the entire people of Vietnam,” the Authority of Broadcasting and Electronic Information said in a statement on its website.

“This is the third time in a row in the last 12 months that Netflix has been found to distribute movies and TV shows containing content which violate Vietnam’s sovereignty,” said the statement, which was dated July 1.

The “nine-dash line” is a U-shaped feature used on Chinese maps to illustrate its disputed claims over vast expanses of the resource-rich South China Sea, including large swathes of what Vietnam regards as its continental shelf, where it has awarded oil concessions.

Chinese and Vietnamese ships have in recent years been embroiled in months-long standoffs in the disputed waterways.

Netflix confirmed it had removed the show in Vietnam but said it remained available on the service in the rest of the world.

“Following a written legal demand from the Vietnamese regulator, we have removed the licensed series, Pine Gap, from Netflix in Vietnam, to comply with local law,” a Netflix spokesperson said.

In Oct. 2019, Vietnam pulled DreamWorks’ animated film Abominable from cinemas over a scene featuring a similar map showing the “nine-dash line.”

Vietnam’s broadcasting authority said the other two shows which it had raised as issues with Netflix were Put Your Head on My Shoulder, a 2019 Chinese rom-com, and the US political drama Madam Secretary.

Put Your Head on My Shoulder was still visible on Netflix on Friday, although Madam Secretary was not. — Reuters

Gov’t fully awards T-bills even as yields rise on inflation bets

BW FILE PHOTO
THE BUREAU of the Treasury made a full award of the short-tenored papers it offered on Monday even as rates inched up. — BW FILE PHOTO

THE GOVERNMENT made a full award of the Treasury bills (T-bills) it offered on Monday even as rates edged up across the board due to cautious investor sentiment.

The Bureau of the Treasury (BTr) raised P15 billion as planned via its auction of T-bills on Monday, with total tenders reaching P49.323 billion, making the offering more than three times oversubscribed. The demand for the papers, however, was smaller than the P53.567 billion bids seen in last week’s auction.

Broken down, the Treasury raised P5 billion as programmed via the 91-day debt papers from P16.55 billion in bids. The three-month T-bills fetched an average rate of 1.044%, up by 1.3 basis points (bps) from the 1.031% quoted at last week’s auction.

It also borrowed the planned P5 billion from the 182-day T-bills after the tenor attracted bids worth P16.112 billion. The average rate of the six-month debt inched up by 1.9 bps to 1.351% on Monday from 1.332% previously.

Lastly, the BTr made a full P5-billion award of the 364-day securities it offered on Monday as tenders hit P16.661 billion. The one-year debt papers were quoted at an average rate of 1.568%, a tad higher than the 1.562% seen in the previous auction.

National Treasurer Rosalia V. de Leon said the rates of the T-bills inched higher on Monday as threats to economic recovery linger, even after the latest manufacturing Purchasing Managers’ Index (PMI) reading signaled improving conditions.

The Philippine manufacturing PMI rose to 50.8 in June from 49.9 in May, the first time since March that the index breached the 50 neutral mark that separates contraction from expansion.

Ms. De Leon said investors remain cautious due to the new Delta variant of the coronavirus disease 2019 (COVID-19) and elevated inflation.

On the other hand, a bond trader said market players asked for slightly higher rates at Monday’s auction because T-bill yields are already too low due to their steady decline in previous offerings.

Other investors may have also placed higher bids in case inflation increased faster than expected last month, the trader said.

Health officials said there has been no local transmission of the Delta variant of COVID-19 in the Philippines so far as travelers are being strictly monitored for possible infections.

Meanwhile, headline inflation may have eased slightly in June amid improving food supply conditions and lower transport prices.

A BusinessWorld poll of 14 analysts held last week yielded a median estimate of 4.3% for June headline inflation, matching the midpoint of the 3.9% to 4.7% estimate given by the Bangko Sentral ng Pilipinas (BSP) for the month.

If realized, June would mark the sixth consecutive month that inflation went beyond the BSP’s 2-4% target and would also be faster than the 2.5% print logged in the same month last year. Still, the month’s headline print would be slower than the 4.5% logged in May.

The Philippine Statistics Authority will report June inflation data on Tuesday.

The BTr will also offer on Tuesday P35 billion in reissued seven-year Treasury bonds (T-bonds) with a remaining life of six years and nine months.

The Treasury is looking to raise P235 billion from the local market this month: P60 billion via weekly offers of T-bills and P175 billion from weekly auctions of T-bonds.

The government wants to borrow P3 trillion from domestic and external sources this year to fund a budget deficit seen to hit 9.3% of the economy. — B.M. Laforga

RLC Residences opens new sales hub

SYNC Building Perspective

RLC RESIDENCES recently opened a new sales hub for its Sync condominium development.

The condominium project is strategically located less than 10 kilometers from Ortigas business district, Bonifacio Global City, Makati, and the emerging Bridgetowne township.

The Sync sales hub is located along C-5 Bagong Ilog, Pasig City.

“With its strategic location, Sync offers a haven for urban professionals looking for a home that can cater to their on-the-go lifestyle,” RLC said.

Sync’s amenities include a rooftop jog trail and fitness center, game room, private theater, and leisure pool.

Interested buyers can schedule your visit at the Sync Sales Hub via our Online Appointment Link bit.ly/RLCResidences_OnlineAppointment.

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