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Lav Diaz wins Best Director at Venice Film Fest’s Orizzonti section

FILIPINO auteur Lavrente “Lav” Diaz has added yet another trophy to his already full shelf as he won the Best Director Award in the Orizzonti section of this year’s Venice International Film Festival for his film, Lahi, Hayop (Genus Pan).

The film, which revolves around the plight of Filipino illegal miners and how society neglects them, was the only Philippine entry in the prestigious festival. Mr. Diaz directed, wrote, edited, and produced the film which stars Bart Guingona and Nanding Josef.

“I once was asked to define man, the so-called human beings, supposedly the most superior inhabitant of planet Earth, and due to the moment’s urgency, for a quick reply, all I could muster was an animal simile (‘Man is an animal’), and I felt terrible, I thought I fumbled, but then looking back now, it was in fact the better answer. Yes, in fact, man remains on that level, animal,” Mr. Diaz wrote of his film on the Venice Film Festival website.

He added that while humans are better developed as a species, “most of us still retain the demeanor and comportment of the chimpanzee, the genus Pan, part of Hominidae, the great primate family,” and thus “by nature, we are violent, aggressive, obsessive, transgressive, imposing, envious, territorial, narcissistic, and egotistical.”

But there’s hope, Mr. Diaz wrote, as the human brain is still developing and once it has achieved full development, “man shall be complete, a truly self-actualized species, altruistic, saintly, and true, just like Buddha, Gandhi, Christ, and the farmer, Mang Osting, who generously provides for my vegetarian needs.”

“Thus, this film, Lahi, Hayop… it has always been my desire to make a film about animals; but, man as animals, man honestly acting like one, an animal, as he has been acting like an animal all his life anyway,” he ended.

(To view the film’s trailer,visit https://www.youtube.com/watch?v=D2lKsbG4crU)

Lahi, Hayop was not the first time Mr. Diaz won at the Venice Film Festival — in 2008, his film Melancholia won the Orizzonti Grand Prize, and in 2014, he won the Golden Lion award, the festival’s top honor, for the film Ang Babaeng Humayo (The Woman Who Left).

The Orizzonti section of the festival is a category running parallel to the main competition and is an international competition “dedicated to films that represent the latest aesthetic and expressive trends in international cinemas,” according to the festival website.

Mr. Diaz, known for weaving contemplative, yet complex stories on human nature, has in recent years become a favorite in the international circuit with Mula Sa Kung Ano ang Noon (From What is Before) winning the Golden Leopard at the 2014 Locarno International Film Festival, and Hele sa Hiwagang Hapis (A Lullaby to the Sorrowful Mystery) winning the Golden Bear at the 2016 Berlin International Film Festival, the same year Ang Babaeng Humayo (The Woman Who Left) won the Golden Lion at the 73rd Venice International Film Festival.

Mr. Diaz is one of the most prominent members of the slow cinema movement — his 2004 film, Ebolusyon ng Isang Pamilyang Pilipino (Evolution of a Filipino Family) spans almost 10 hours. In comparison, Lahi, Hayop runs for two hours and a half.

The Venice International Film Festival, is considered the world’s oldest film festival (it started in 1932) and is one of the “Big Three” film festivals, a list that include the Cannes Film Festival in France and the Berlin International Film Festival in Germany. — Zsarlene B. Chua

Alsons issues P1-B debt papers for renewable plants

Alsons Consolidated Resources, Inc. issued on Monday P1 billion worth of commercial papers, the proceeds of which will be used to fund its upcoming renewable power projects.

The debt papers under the second series of the company’s debt service program were listed and traded on the Philippine Dealings and Exchange (PDEx), the Alcantara-led holding firm told the stock exchange. The program started in 2018.

Early in the month, the company disclosed that the proceeds of the company notes will be used to fund eight run-of-river renewable projects in the pipeline.

Clean power facilities will constitute the biggest share of Alsons’ power portfolio, said Alsons Chairman President Tomas I. Alcantara in a previous disclosure.

Presently, one of the eight projects, the 14.5-megawatt (MW) hydropower plant in Maasim, Sarangani province, is under construction. It is targeted to run by 2022.

Another power generator, the 105-MW San Ramon Power, Inc. baseload coal-fired power plant in Zamboanga City, is also being developed and is expected to begin construction early next year.

Alsons’ latest series of issuance was rated PRS A plus by the Philippine Rating Services Corp. (PhilRatings), meaning the company has an above-average capacity to meet its financial obligations. It was also given a stable outlook, thus the rating is likely to be maintained in the next 12 months.

The holding firm’s net income soared more than four times to P1.39 billion in the first semester, while revenue jumped 70.6% to P5.29 billion. It attributed its financial performance to its fully operational 210-MW Sarangani Energy Corp. coal-fired baseload plant.

Alsons is engaged in both power production and real estate. It has four power generators with a combined capacity of 468 MW.

On Monday, shares in Alsons dipped by 1.61% to close at P1.22 each. — Adam J. Ang

Nomadland wins top prize at masked and distanced Venice film festival

VENICE — Nomadland, a US movie about a community of van dwellers traversing the vast American West, won the Golden Lion award for best film at the Venice film festival on Saturday.

The film, by US-based Chinese director Chloe Zhao, stars Frances McDormand as a widow in her 60s in a depressed Nevada mining town who turns her van into a mobile home and sets out on the road, taking on seasonal jobs along the way.

The festival on the Lido waterfront was the first such event to go ahead in front of live audiences since the COVID-19 pandemic all but shut down the world of showbiz.

“Thank you so much for letting us come to your festival in this weird, weird, weird world and way,” McDormand said in a video message with Zhao.

The jury led by Australian actress Cate Blanchett gave two runner-up Silver Lion awards, one to Mexican director Michel Franco’s thriller New Order and the other to Japanese historical drama Wife of a Spy, by Kiyoshi Kurosawa.

Veteran Russian director Andrei Konchalovsky was also awarded a special jury prize for Dear Comrades!, a film about the 1962 massacre of striking workers in Novocherkassk which had been tipped as a front-runner for the top prize.

British actress Vanessa Kirby, who was in Venice with two films, won the best actress award for her performance as a woman reeling from the grief of losing her newborn daughter during a home birth in Pieces of a Woman.

The best actor prize went to Italy’s Pierfrancesco Favino.

A strict safety protocol was put in place for the festival, including the wearing of face masks when watching films and leaving about half the seats in theaters empty.

Due to travel restrictions, few Hollywood celebrities made the trip to the world’s oldest film festival, which is regarded as a showcase for Oscar contenders as awards season approaches. Many winners did not attend the awards ceremony on Saturday night, and those who did only pulled down their masks for their thank-you speech.

Still, festival director Alberto Barbera said he was fully satisfied with the result, adding the event had met its goal of having about 50% of its usual public of cinema fans, accredited media, film critics and industry officials.

Blanchett said the awards had been decided after “healthy and robust discussions” and praised the organization of the festival given the circumstances.

“After a day or two it was seamless… good discussion is good discussion with a mask or not,” she told the closing press conference. — Reuters

PCC readies rules on notification-exempt mergers

THE Philippine Competition Commission (PCC) will be issuing guidelines on the suspension of its review of business mergers and acquisitions with transaction values below P50 billion.

The Bayanihan To Recover As One Act, known as Bayanihan II, exempts parties in mergers and acquisitions from being required to notify the competition regulation body within two years from the effectivity of the law.

PCC review of these transactions, conducted on its own initiative, is also suspended for a year.

The upcoming guidelines amend previous rules, where parties in mergers and acquisitions reaching a threshold value of P2.4 billion were previously required to notify the PCC.

“PCC will be issuing implementing guidelines for pending and future transactions,” the commission said in a statement on Monday.

However, it said it would continue to protect against cartels and monopolies that could restrain the movement of essential goods and services. 

“PCC is intensifying enforcement activities to scan the market for anti-competitive agreements and abusive practices that harm the Filipino people,” it said.

Francisco E. Lim, professor of Competition Law at Ateneo de Manila Law School, said that the provision will be good for business in the short term because less time would be required for transactions.

“But it may not be good in the long term as the commission may still challenge their validity post transaction,” he said in a mobile message on Monday.

President Rodrigo R. Duterte signed Bayanihan II into law last week. The law provides P165.5 billion to fund the country’s coronavirus disease 2019 (COVID-19) response. — Jenina P. Ibañez

Why demand for residential projects outside Manila is rising

By Denise A. Valdez, Senior Reporter

RESIDENTIAL developments outside central business districts are expected to gain ground as more people continue to practice remote work arrangements and prefer open spaces.

During Lamudi’s roundtable discussion with real estate leaders last week, developers and consultants said they saw a shift in market preference towards areas outside Metro Manila.

“The need to be in a CBD (central business district) is not that important anymore because of work from home,” Raphael B. Felix, CEO of Phinma Property and board chairman of the Subdivision and Housing Developers Association, said in the streamed webinar.

“There’s really a change. I can see the regions happening, (and) a lot of our new projects are in the regions,” he added.

New lifestyle patterns, where people spend more time at home and avoid crowded areas, are seen to continue even when the lockdowns are eased, Colliers Research Manager Joey Roi H. Bondoc said.

He noted several buyers are already eyeing locations outside Metro Manila when looking for second or third residential units. “They’re planning to invest in areas that are less dense,” Mr. Bondoc said.

And property developers are already reacting to this. Tomas P. Lorenzo, president and CEO of Torre Lorenzo Development Corp., said the company is increasing focus outside the capital.

“We’ve also moved forward with developing outside Metro Manila. We really see the next wave (there),” he said.

“Realizing that technology now allows people to work remotely, it means that there will be many people post-pandemic who will consider really living outside (Metro Manila),” he added.

A builder of solar-powered houses, Imperial Homes Corp., observes the same trend. “People are going to areas outside the CBDs,” Imperial Homes President and CEO Emma M. Imperial said.

Colliers’ Mr. Bondoc said aside from the immediate trend now, he expects further growth for residential developments in the provinces in the future, as companies are also growing more keen in spaces outside Metro Manila.

“We’ve been seeing a lot of companies implementing business continuity plans. Those that were Metro Manila-centric initially are now looking at expanding outside of Metro Manila,” he said.

“Eventually, those office requirements would also result in greater residential investments in these areas,” he added.

SM drive-in theater opens at Mall of Asia

SIX MONTHS into lockdown and traditional cinemas are still not open because of health risks, but SM Cinema, arguably the largest cinema operator in the country, has found a modicum of success in introducing a new way of watching films outside one’s home in the relative safety of one’s car as after a pilot launch in SM Pampanga in late July, SM Cinema’s drive-in cinema has found its way to SM Mall of Asia (MOA).

Aptly called SM Cinemas by the Bay, the drive-in cinema is found at the SM MOA Concert Grounds (Block 16), with a perfect view of the Manila Bay. The one hectare parking lot can fit up to 106 cars per screening. Each vehicle can contain two to four people. Tickets, priced at P400, includes a popcorn bucket, beef franks, and bottled water.

Viewers can watch the films on a raised LED screen while audio is streamed via the cars’ radio through a specific FM frequency.

“The first SM Cinema Drive-in which was launched in Pampanga on July 31 drew an overwhelming reception from the public. Tickets were selling fast… There was a positive response from the public as it is an innovative, fun and safe way of watching movies,” Ruby O. Reyes, SM Cinema’s vice-president for marketing, told BusinessWorld in an e-mail interview on September 10.

(READ MORE: https://www.bworldonline.com/sm-pampanga-opens-drive-in-theater-in-midst-of-pandemic/)

But how was a cinema drive-in experience, really? According to Martin Marvin Macalintal, it was an “enjoyable experience,” but will not replace the experience in a traditional cinema as seeing a movie while inside a car does not provide the complete immersive experience one has in a regular cinema.

“The experience of a drive-in movie, there’s a distance from the screen, you’re not immersed into the screen because technically when you’re inside the cinema, everything is in total darkness… so you’re totally immersed and focused on to what’s happening on the screen,” Mr. Macalintal, cultural attache of the French Embassy in the Philippines, told BusinessWorld in a phone interview on Sept. 9. Among the embassy’s many projects he is involved in are the annual French Film Festival and the European Union’s CineEuropa.

Mr. Macalintal went to watch Train 2 Busan: Peninsula on Sept. 8 upon the invitation of SM Cinema.

The screening started at 6:30 p.m. though the parking lot opens earlier at 5:30 p.m., he recalled. Upon arrival, marshals were there to check the tickets (they are only bought in advance and not on-site) and the temperature of the person/s inside the vehicle. The vehicle also undergoes disinfection via a mister. After verification, the vehicle is led to a section where the viewer/s are given their food and drinks before being led to their designated parking space.

Mr. Macalintal was “seated” at the fourth row and reckoned that there were about 30 or so vehicles of people watching the film with him.

“The sound was clear: every sound effect, every explosion, everything was clean,” he said of the experience as the sound inside the car mimics a surround sound system.

“I enjoyed the experience because it’s actually something I wanted to do for the French Film Festival before,” he added.

And while a drive-in cinema cannot be a replacement for regular cinemas because it is not as immersive, Mr. Macalintal said that it’s an alternative, especially for an industry that has been one of the hardest-hit in the pandemic.

“To me, I think, the film industry is looking for alternative means of reviving the industry. The first and probably the last thing that will close and reopen would be the cinemas. So for half a year now, cinemas are closed worldwide so all these multi-million dollar/euro films are kept for next time. They are not making money,” he said, and as such, drive-in cinemas provide these films a way of being shown to a wider audience while still following health protocols.

“It’s an alternative, it’s not perfect but hey, [now] you can go out of your house and see a movie,” he added.

Tickets for SM Cinema by the Bay can be bought online via www.smtickets.com. The cinema has one 6:45 p.m. screening on Friday, Saturday, and Sunday. — Z.B. Chua

PLDT studies opportunities in ABS-CBN’s SkyCable

PLDT, Inc. said Monday it was exploring opportunities in Sky Cable Corp., a subsidiary of ABS-CBN Corp.

“PLDT regularly explores opportunities available to the group that may complement our overall business strategy. As such, PLDT is evaluating options with respect to SkyCable for possible opportunities,” PLDT said in a statement.

It added: “However, there is nothing definite nor disclosable at this time.”

PLDT issued the statement to clarify news reports that it is bidding for SkyCable.

In a separate statement, ABS-CBN said: “SkyCable has not solicited this bid to sell the company, nor has ABS-CBN Corp. made any decision with regard to a divestment of SkyCable.”

If the deal pushes through, the Bayanihan To Recover As One Act (Bayanihan II) signed by President Rodrigo R. Duterte on Sept. 11 exempts mergers and acquisitions from compulsory notification “with transaction value of less than P50 billion which are entered into within two years” from effectivity of the law.

The Philippine Competition Commission in a statement said the new law also suspends its “exercise of motu proprio review of these mergers and acquisitions for a period of one year.”

The National Telecommunications Commission (NTC) issued in July a cease-and-desist order against the direct broadcast satellite service of SkyCable.

The company’s legislative franchise had expired on May 4.

Last week, the NTC issued an order recalling all the frequencies assigned to ABS-CBN after the House of Representatives in July denied the network’s application for a legislative franchise.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a stake in BusinessWorld through the Philippine Star Group, which it controls. — Arjay L. Balinbin

Gov’t partially awards T-bills as investors ask for higher yields

THE GOVERNMENT made a partial award of the Treasury bills (T-bills) it offered on Monday as market players sought higher yields ahead of the US Federal Reserve’s policy meeting and the Bangko Sentral ng Pilipinas’ (BSP) maiden bond issuance.

The Bureau of the Treasury (BTr) borrowed just P12 billion out of the programmed P22 billion even as the offer was more than twice oversubscribed, with bids totaling P54.152 billion.

Broken down, the BTr accepted P7 billion as planned in the 91-day T-bills, with the tenor attracting bids worth P26.313 billion or almost four times the offer volume. The three-month papers fetched an average rate of 1.15%, down 1.7 basis points (bps) from the 1.167% logged in the previous auction.

The Treasury said it doubled accepted bids from the non-competitive sector or small investors to P4 billion. Their prices are computed on the average price of all competitive tenders from institutional investors.

The government also borrowed P5 billion as programmed via the 182-day tenor with tenders reaching P13.134 billion. The six-month securities fetched an average rate of 1.589%, higher by 7.1 bps from 1.518% previously.

On the other hand, the Treasury did not award any 364-day T-bills yesterday even as tenders reached P14.705 billion, well above its P10-billion program. Had the government made a full award, the average rate for the one-year papers would have climbed to 1.969%, 16.2 bps higher than the 1.807% fetched in the previous auction.

At the secondary market, the 91-day, 182-day and 364-day T-bills fetched yields of 1.207%, 1.518% and 1.84%, respectively, yesterday.

National Treasurer Rosalia V. de Leon said the yields fetched for the T-bills reflected investors’ anticipation of the US central bank’s policy meeting on Sept. 15-16 and the BSP’s bond offering on Friday.

She added that the Treasury rejected the bids for one-year papers as rates soared compared to prevailing yields at the secondary market.

“The BTr rejected bids for the 364-day papers as rates were higher by 16 bps, north of the previous auction, as well as secondary levels. Banks are positioning in anticipation of maiden BSP offering, as well as outcome of the Federal Reserve policy meeting this week,” Ms. De Leon told reporters via Viber after the auction.

“The banks were saying they will go for one-year debt if the BTr accepts [a] big pickup [in yields] versus the secondary levels,” Ms. De Leon added.

A trader likewise said “bids for the 364-day bills are too high and the market is probably waiting to see first how the central bank’s auction will go.

The central bank will offer 28-day securities on Friday, with the final offer volume set to be confirmed on Sept. 16.

The BSP said the auction volume for the debt papers will be small at the start, but will be gradually increased based on market response and its liquidity forecast.

The Treasury is looking to raise P160 billion from the domestic market this month: P100 billion via weekly auctions of T-bills and P60 billion via Treasury bonds to be offered fortnightly.

The government is looking to borrow around P3 trillion this year from local and foreign lenders to help fund its budget deficit expected to hit 9.6% of the country’s gross domestic product. — K.K.T. Jose

Sta. Lucia touts nature-inspired developments

URBAN FARMING and gardening have become popular stress relievers amid the pandemic. This has prompted many home buyers to look into properties with green open spaces.

“We have seen how critical it is to have enough space to move around. Social distancing isn’t something we see as temporary. I think this will now become the norm and thus, it is important to live and reside in an area where there’s more than enough space for people to move around, have access to nature and have good air quality to breathe in,” Sta. Lucia Land, Inc. President Exequiel D. Robles said in a statement.

Sta. Lucia Land’s portfolio includes leisure farm lots at La Huerta Farms and Residences in Laguna, and a lakeside community The Lake at St. Charbel in Cavite.

Mr. Robles said the lake development and farm lots are projects that are “built for and beyond the new normal.”

“Nature or the simple idea of creating your own green space had become a perfect therapy for many individuals while on quarantine. And this is something that we fully understand and long advocated for. This is why we have in our portfolio projects that would allow residents to commune with nature and to some extent, realize their dream of becoming a full-fledged gardener/farmer,” Mr. Robles said.

Disney’s Mulan opens weak in China

LOS ANGELES — Walt Disney Co’s live-action remake of Mulan pulled in $23.2 million over the weekend at box offices in China, a slow start for the big-budget epic about a Chinese folk hero in its most important theatrical market.

The debut for Mulan fell short of director Christopher Nolan’s Tenet, which grossed $29.8 million in China a week earlier. Unlike Tenet, Mulan was tailored to draw big audiences in the country.

But Mulan, which cost $200 million to produce, was hit by political controversy and received mixed reviews in China. It had been set to debut in March until it was delayed by the coronavirus pandemic, which has limited moviegoing worldwide.

“That’s a disappointing debut,” said Jeff Bock, senior media analyst at Exhibitor Relations Co. “Disney made this film for Chinese audiences and they saw it pretty much fall flat.”

Mulan provoked a backlash on overseas social media, and calls for a boycott, over its star’s support of Hong Kong police and for being partly filmed in the Xinjiang region, where China’s clamp-down on ethnic Uighurs and other Muslims has been criticized by some governments and rights groups.

Chinese authorities told major media outlets not to cover the film’s release in the wake of the uproar, four people familiar with the matter told Reuters.

Total worldwide box office receipts for Mulan reached $37.6 million through Sunday for the seven territories where the film is playing.

Disney is trying to turn a profit on Mulan through an unusual release strategy because the pandemic has left many theaters shuttered.

The company made Mulan available for online viewing in the United States and other countries where the Disney+ streaming service is available.

In China and other countries where Disney+ does not operate, Disney is releasing Mulan in cinemas. Disney has not provided sales figures from streaming.

Starring big-name Chinese-born actors — Jet Li, Gong Li, Donnie Yen and Yifei Liu — Mulan was tailored to appeal to audiences in China, the world’s second-largest movie market.

But there was no major media build-up and no star-studded premier or red carpet launch.

Online reviewers in China seemed more concerned about the plot than the politics.

‘EXTREME REVIEWS’
The film was rated 4.7 out of 10 on China’s popular social media site Douban.

Some posters pointed out historical inaccuracies, including the use of buildings that only appeared hundreds of years after the film’s setting.

The movie’s “pre-sales started too late, and it got quite some extreme reviews before the premiere,” said Liu Zhenfei, an analyst with Maoyan.

“On top of the fact that it is impacted by piracy issues, because the storyline is Chinese, it faces higher expectations when shown in China,” he said.

The ticketing company predicted Mulan would likely take in less than 300 million yuan in ticket receipts during its entire run in China.

By comparison, The Eight Hundred, a patriotic movie about China’s fight against Imperial Japanese during World War Two, earned 141.3 million yuan on its first full day in August.

People coming out of the first screenings of Mulan said the politics had not put them off.

“We should not make art political,” said Shanghai cinema-goer Gao Wenxing, 23.

“As a Chinese person, I don’t think there is anything wrong with Liu Yifei’s action,” she added, referring to the actress who plays the Mulan and angered many with her support for police in Hong Kong at a time when the city was embroiled in unrest.

When asked in the past about the reaction to the film’s Xinjiang shooting, China’s foreign ministry has reiterated Beijing’s denial of the existence of re-education camps in the region, calling facilities there vocational and educational institutions and accusing anti-China forces of smearing its Xinjiang policy. — Reuters

PAL launches deals to boost air travel demand

FLAG carrier Philippine Airlines (PAL) is offering promotional low fares aimed at boosting air travel during the last quarter of the year and the first six months of 2021, its spokesperson said.

“With this latest offering from Philippine Airlines, we hope to stimulate demand and boost travel during the 4th quarter of this year and first half of 2021. As we look forward to a more promising outlook for the industry in 2021, we will continue to carry out similar initiatives,” PAL Spokesperson Cielo C. Villaluna told BusinessWorld in a phone message.

PAL’s “September Deals” promotion offers passengers one-way base fares as low as P688  for domestic journeys and $99 for round-trip international flights.

“Travelers may purchase these promotional low fares from September 14 to 20, for travel during the seven months from November 1, 2020 to May 31, 2021,” PAL said in a statement.

“For flexibility, PAL passengers may enjoy free rebooking on the same booking class seven days prior to departure date,” it added.

The airline said the initiative also aims to support Philippine businesses and communities as the economy gradually reopens.

PAL currently operates flights on various domestic and international routes while implementing “strict new-normal safety measures,” it said.

Safe Travel Barometer, a unit of travel industry consulting firm VIDEC, has identified the flag carrier as one of the top 10 airlines with the highest safety credentials for travel during the pandemic, Ms. Villaluna noted. — Arjay L. Balinbin

TLDC shifts to ‘agile’ work arrangements

TORRE LORENZO Development Corporation (TLDC) has shifted to agile work arrangements and ramped up its digital transformation amid the pandemic.

“Our top priority remains ensuring that our employees, as well as those who live and work in our developments, remain safe and secure during the pandemic,” TLDC Chief Executive Officer Tomas P. Lorenzo said in a statement.

Under the company’s flexible work arrangement scheme, employees are allowed to work at home if they can complete their tasks remotely.

Transport service is provided to employees who need to be physically present at the office.

TLDC also implemented the digitization of various administrative processes that were previously done manually. “Paper transactions are part and parcel of any corporate operation, but we have fully embraced technology to minimize this and ensure our people can secure necessary documentation for their tasks from wherever they work,” Mr. Lorenzo.

All TLDC employees are required to wear both masks and face shields at the office. Meetings are conducted virtually, while COVID testing is regularly conducted for all employees and support staff.

For employees and outsourced service providers going to TLDC properties, the company provides free lodging as well as subsidized meals to help ensure their safety and security.

For clients, TLDC has kept digital channels such as its social media accounts open to respond to queries and requests. Its projects can be viewed through walkthrough videos, while the contact center is available to receive concerns six days a week.