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Phoenix Petroleum seeks trading suspension of its series A preferred shares 

DENNIS A. UY-LED Phoenix Petroleum has requested on Monday for the voluntary suspension of the trading of its third tranche series A (PNX3A) preferred shares, as the firm addresses concerns and questions on their settlement.

In a regulatory filing, the firm said that it asked for the postponement as it needed to clarify issues, queries and questions on the settlement or redemption of the PNX3A shares.

On Friday, Phoenix Petroleum said that it would fully redeem all of its PNX3A shares at P100 apiece. The total redemption price was P1.25 billion.

The outstanding preferred shares were issued five years ago, on Dec. 18, 2015. They had an interest rate of 7.427% per year and were entitled to an optional redemption during the third year of its listing date. If not fully redeemed on the fifth year after the listing date, the shares were subject to a step-up dividend rate.

In a previous filing, Phoenix Petroleum said that the shares could be redeemed through its paying agent BDO Unibank, Inc.-Trust and Settlement Group.

Earlier, the firm approved the settlement of P3 billion in outstanding commercial papers, which were issued at a discount last year to a face value of 4.6657% per annum.

During the third quarter, the company reported a net income of P296 million, reversing its P5-million loss in the second quarter. Meanwhile, its overall volume sales rose by 42% from July to September on the back of local business recovery as well as relaxed lockdown measures.

Shares in Phoenix Petroleum on Monday decreased 0.16% to finish at P12.76 apiece. — Angelica Y. Yang

Central bank waives transaction fees under PhilPaSS until 2021

THE CENTRAL BANK said fees will be waived until end-2021. — BW FILE PHOTO

THE CENTRAL BANK has extended further the waiving of fund transfer fees for transactions made via the PhilPaSS or Philippine Payment and Settlement System facility until next year as part of their continuing relief measures amid the coronavirus crisis.

Memorandum No. M-2020-095 signed by BSP Deputy Governor Maria Almasara Cyd N. Tuaño-Amador on Dec. 16 said the temporary waiver of transfer transactions will be applied until the last business day of 2021.

The move is meant “to provide further support for the efficient operations of financial institutions and further foster a supportive environment” for BSP-supervised institutions, the central bank said.

In turn, these entities are expected to provide better financial intermediation services to the public and encourage use of electronic payments.

The waived fees will apply for interbank transactions, peso leg of dollar trades, peso leg of government securities trades, Philippine Clearing House Corp. transactions, automated teller machine transactions, and the manual processing of interbank transactions.

“The BSP enjoins participants of PhilPaSS to actively disseminate to the public the available automated clearing houses (i.e., InstaPay and PESONet) and PhilPaSS as facilities to electronically transfer funds to target recipient accounts maintained with other banks participating in PhilPaSS, thereby providing Filipinos a wide range of digital payment channels,” Ms. Tuaño-Amador said.

PhillPass is the country’s real-time gross settlement system that facilitates bank transfers between lenders. Payments for transactions are carried out through the demand deposit accounts of banks maintained with the BSP.

The latest memorandum follows the earlier released Memorandum No. M-2020-048 which extended the waiver of fund transfer fees of PhilPasSS transactions only until the last business day of 2020.

It was in April when the BSP first waived PhilPass transaction fees, initially set to be in effect just until the end of the lockdown in Manila. — L.W.T. Noble

DMCI Homes unveils condominium project in Malate

DMCI PROJECT Developers, Inc. is looking to generate around P3 billion in reservation sales from its newly launched condominium in Malate, Manila.

In a statement, DMCI Homes Vice-President for Project Development Dennis Yap said the company launched The Camden Place after seeing “encouraging” sales of its previous projects despite the pandemic.

“There’s a growing market optimism because of the steady demand for residential spaces even with the health crisis. Aside from that, we would like to believe that homebuyers will continue to patronize our projects because we always strive to offer the best value products in the market,” Mr. Yap said.

The single-tower project is located along Dominga St. and near the campuses of College of St. Benilde and De La Salle University.

The Camden Place will have 756 units, which is a mix of studio, 1-bedroom, and 2-bedroom units measuring 24 square meters (sq.m.) to 54.50 sq.m. It will have 27-residential floors and five-podium parking levels. Pre-selling unit prices start at P3.98 million.

The project is targeted for completion in March 2025.

“For The Camden Place, we aim to offer young working professionals and students right-sized homes with convenient indoor amenities and facilities that help satisfy their work, lifestyle, and wellness needs. We also hope to generate interest from homebuyers who may want to invest in a property with big rental and capital appreciation potential,” Mr. Yap said.

The Camden Place will also feature a co-working space, Sky Deck Pool, fitness gym, lounge areas, entertainment room, game area, Sky Promenade, and Sky Lounge.

Shareholders approve Millennium Global’s increase in capital stocks

MILLENNIUM Global Holdings, Inc. has secured the approval of its stockholders to increase its authorized capital stock to an amount not exceeding P10 billion.

In a regulatory filing on Monday, the company said its stockholders had granted the change in its stock to up to P10 billion, divided into 100 billion shares, and with a par value of 10 centavos per share.

Millennium Global said the amount is yet to be determined by its board of directors, but will not exceed P10 billion.

The new figure is an increase from the company’s previous authorized capital stock of P250 million, divided into 2.5 billion shares, at a par value of 10 centavos per share.

The company added that the stockholders also approved the subscription to at least 25% of the stock by Yang Chi Jen, the company’s chairman, at 20 centavos per share.

“The number of shares to be subscribed by Mr. Yang shall be determined after relevant board approval/s of the exact amount/s of the increase in authorized capital stock. The increase may be done in tranches, but not to exceed the total amount of P10 billion,” the company said.        

According to the disclosure, the change aims to raise additional capital for its investments and operations.

Meanwhile, the company also announced that its principal office is now at Lot 9 Block 2 John St., Multinational Village, Parañaque City.

On Monday, shares of Millennium Global at the stock exchange rose 13.84% or P0.031 to end at P0.255 per piece. — Revin Mikhael D. Ochave

Bilingual pop anthem ‘Suyo’ wins PhilPop songwriting tilt

NOAH Alejandre and Reanna Borela’s “Suyo” bagged the top prize of the PhilPop 2020 Songwriting Festival. Conveying the intricacies of romantic relationships amidst language and cultural differences, “Suyo” bested 14 entries from Metro Manila, North Luzon, South Luzon, the Visayas, and Mindanao clusters on the PhilPop Finals Night, held online on Dec. 20. The composers behind the winning song — who also interpreted their own track under the moniker, reon — walked away with the grand prize of P1 million, tax free.

Aikee’s “Bestiny” and Sherwin Fugoso’s “Pahuway” emerged as the first and second place winners, winning P500,000 and P250,000, respectively.

“Bestiny” was interpreted by Kevin Yadao and Jr. Crown, while “Pahuway” was sung by Ferdinand Aragon, who composed the PhilPop 2018 runner-up song, “Di Ko Man.”

A special award called Smart People’s Choice, which was determined based on the cumulative number of streams and views via Spotify and YouTube, was also handed out to the standouts in every geographical cluster: “Kasadya,” composed and interpreted by XT on Sax with Jay-ar Vaño for Mindanao; “Suyo,” composed and interpreted by reon for the Visayas; “Para Kay Catriona,” composed by Kulas Basilonia and interpreted by I Belong to the Zoo for South Luzon; “Balikan,” composed by Lolito Go and interpreted by Ben Manalo for North Luzon; and “Huling Sayaw,” composed by Kian Dionisio and interpreted by Nyoy Volante for Metro Manila.

PhilPop Songwriting Festival 2020 kicked off its celebration with a week-long series of online events featuring the 15 finalists.

Connect, a digital media agency based in the Philippines, produced a five-part series called PhilPop 2020 Podcast. The digital documentary, which ran from Dec. 12 to 18, put a spotlight on the finalists per cluster and the stories behind every song.

During the week-long promo spot, the finalists also guested at Wish 107.5’s Connect to talk about their respective entries in the competition.

A day before the Finals Night, PhilPop 2020 also debuted the music videos of the PhilPop finalists. They are now available on Warner Music Philippines’ official YouTube account.

Yellen pressed to back strong dollar policy in reversing Trump-era tone

JANET YELLEN once touted the benefits of a weaker greenback for exports, but as the incoming Treasury secretary, she faces pressure to return the US to a “strong-dollar” policy — and may cause trembles on Wall Street if she doesn’t.

The greenback’s tumble this year — it’s heading for the second-biggest drop in the past decade and a half — has already stoked foreign policy makers’ concerns, thanks to the competitive advantage it gives the US. Even a tacit endorsement of a weakening dollar could spur tensions with trading partners.

Yellen, President-elect Joe Biden’s pick for Treasury chief, if confirmed will take office about a month after her predecessor labeled two countries as currency manipulators and named 10 on a watch list for artificial interference. The moves, unveiled Dec. 16, capped a volatile period for currency commentary under President Donald Trump’s administration that heightens focus on Ms. Yellen’s approach.

The US adopted a policy of favoring a “strong” dollar in 1995, marking an end to regular calls for other countries to drive their currencies higher. While the mantra did evolve from one Treasury chief to another, no administration from then until the Trump years communicated, as the president did in 2017, that the dollar was “getting too strong.”

While they sometimes did endorse a strong dollar — always from a long-term perspective — Mr. Trump and outgoing Treasury Secretary Steven Mnuchin said that a weaker currency would help American exports. Mr. Mnuchin also said an “excessively strong dollar” could have negative short-term effects on the US economy.

It’s a sentiment Ms. Yellen herself has suggested she shared in the past.

As president of the Federal Reserve Bank of San Francisco in 2004, Ms. Yellen helped establish a view among investors that the US central bank saw a weaker currency as a help in addressing the country’s current-account deficit. As the Fed’s chair a decade later, she continued to make that connection, saying repeatedly that dollar appreciation posed a drag for American exports.

It’s the Treasury secretary’s job to oversee currency policy, and at least two former holders of that title have urged Yellen to make clear she doesn’t favor dollar depreciation. That’s after Mr. Mnuchin went so far as to entertain Mr. Trump’s consideration to forcibly weaken the dollar in mid-2019.

PREDECESSORS’ CALLS
“It would be unwise to appear actively devaluationist or indifferent to the dollar,” Larry Summers, who was Treasury secretary under Bill Clinton and national economic adviser under Barack Obama, said last month.

Mr. Summers highlighted that the dollar’s dominant role in the global financial system puts the onus on the Treasury to manage its responsibilities carefully. Favoring a strong dollar is “prudent” for the incoming secretary, in particular given Biden’s plans for “expansionary policy,” said Mr. Summers, who is a paid contributor to Bloomberg.

Hank Paulson, who served as Treasury secretary under George W. Bush, made the same point in a Wall Street Journal opinon column this month.

“Interest rates are at historic lows, and the federal debt is larger as a share of the economy than at any time since the end of World War II,” Mr. Paulson wrote. “It is critically important to bend down the steep trajectory of the rising national debt. Otherwise, the dollar will eventually be debased. Washington won’t be able to pay its bills.”

Those aren’t the kinds of concerns Ms. Yellen needed to focus on during her tenure at the Fed, which began in the 1990s as a board member. She instead looked at how the exchange rate factored into the economic outlook, and what the implications were for setting monetary policy.

“Yellen as a Fed person can talk about the benefits of a weaker dollar with regard to inflation and exports,” said Brad Bechtel, global head of foreign exchange at Jefferies LLC. “But as a Treasury secretary the typical stance is a strong dollar policy.”

The dollar’s exchange rate has been set by the market since the 1970s, and official comments don’t tend to have more than a fleeting impact on the greenback, but they are still viewed closely by overseas policy makers along with investors.

The new administration’s pronouncements will be keenly eyed after the Mnuchin Treasury’s latest report on overseas foreign-exchange practices. For a quarter century, the US held off on declaring any trading partner as a manipulator of its currency.

Mr. Mnuchin applied that label three times — for China from August 2019 to January, and, in Wednesday’s announcement, for Switzerland and Vietnam.

MANIPULATOR TAG
Switzerland’s central bank quickly rebuffed Mr. Mnuchin’s demand for it to scale back intervention in the franc. Taiwan, which is on the so-called monitoring list, said the Treasury inaccurately represented its foreign-exchange purchases.

On that score, Ms. Yellen has previously indicated a more understanding view of exchange-rate movements. In 2019, she said, “It’s really difficult and treacherous to define when a country is gaming its currency to gain trade advantages.”

“She will likely advocate a high hurdle both to express and implement an active dollar policy and also to be cautious in accusing trade partners of currency manipulation,” Daniel Hui, a JPMorgan Chase & Co. global foreign-exchange strategist, wrote in a Dec. 14 report.

Regardless of whether she actively returns the US to a strong dollar policy or tries to shy away from any comments, Yellen is seen bringing stability and predictability to any comments on the $6.6 trillion-a-day currency market. She underscored the importance of message discipline when, as Fed chair, she called on her colleagues in 2014 to be mindful of what they said about the dollar and highlighted that it’s the Treasury that speaks for the US government on the currency.

“By longstanding agreement, the Treasury speaks for the US government on international economic policy and the dollar,” Yellen observed in the late-October 2014 Fed policy meeting.

More than six years later, that’s just the role she’ll be expected to take on. — Bloomberg

First Philippine Industrial Park gets special PEZA award

THE Philippine Economic Zone Authority (PEZA) has given the Green, Healthy, Smart, and Sustainable Ecozone Award to First Philippine Industrial Park (FPIP) for its “notable commitment to promoting healthy industrialization and sustainably-designed, smart, and green economic zone.”

FPIP was one of only two ecozones to receive the award from PEZA during an online ceremony on Dec. 10.

To earn the award, FPIP met 10 qualifying criteria, such as compliance with requirements under the Renewable Energy Act of 2008; the Clean Air Act; the Philippine Green Building Code; and the Energy Efficiency Conservation Act.

PEZA also took into consideration the ecozone’s solid and liquid waste disposal system; recycling system; energy management system and RE development; water use and reuse system, as well as projects designed to minimize the impact of climate change.

The 520-hectare ecozone is located in Santo Tomas and Tanauan in Batangas. It was established by the Lopez Group through First Philippine Holdings Corporation, together with Sumitomo Corporation of Japan.

FPIP and its locators provide employment for over 60,000 Filipinos.

Five FPIP locators also received recognition and awards from PEZA. Brother Industries (Philippines), Inc., was honored as an Outstanding Employer, and for its Outstanding Environmental Performance, as well as COVID-19 response; B/E Aerospace, was cited as Outstanding Exporter; Canon Business Machines (Philippines), Inc., received the Galing Pinas! Special Citation for Local Purchases on top of its Outstanding Environmental Performance Award; Ibiden (Philippines), Inc., was elevated to the Hall of Fame for winning three times the Outstanding Community Project Award; and Philippine Manufacturing Co. of Murata, Inc., was conferred a COVID-19 Response Award.

Derek Ramsay vs Three Comedians

The heartthrob talks about his least favorite role, playing a bad guy, and becoming a meme

IT was an early Christmas present for everyone involved when widely acknowledged hunk Derek Ramsay popped on a stream with widely acknowledged funny guys comedians Mike Saddi, Jeps Gallon, and Jethro Trogo.

Actor and model Derek Ramsay, known for his movie roles as the desirable guy women fight over, jumped onto The Kids Are Asleep stream hosted by the comedians., a surprising choice given its relatively small audience (about 270 likes on Facebook; plus the audience during Mr. Ramsay’s guesting numbered a little below 50). It was a bit of a surprise for the boys, too.

“He was in our shortlist of people we really wanted to talk to,” said Malaysia-based Mr. Saddi as he introduced their guest. He said that they dropped him a message through US-based Mr. Trogo, who had interviewed Mr. Ramsay in his past life as a writer. “We got a panicked response from Jethro the next day, saying, ‘He replied! What do I do?’ Say ‘yes!’,” said Mr. Saddi. “This is the feeling I had noong nireplyan ako ng crush ko (when my crush replied to me),” he said. He also joked that for the first time in the show’s run, his wife was finally watching him, as was his brother. “This is probably the proudest moment of the Saddi family.”

The audience, anxious for a prank from comedians (why not?) were taken aback when Mr. Ramsay appeared, wearing a T-shirt, a baseball cap, and leaning on a massage chair. “It’s me. I’ve got the full-on beard and I’ve got some hair now, but it’s still me.”

Mr. Ramsay celebrated his birthday on Dec. 7. “I’m a big 44.” Asked about his birthday goals, Mr. Ramsay answered, “Ang kapal naman ng mukha ko guys (I’d be too full of myself), if I have something to complain about in my life. I’ve been very blessed.”

“I guess the last thing I’d want to tick off my bucket list would be to become a pro golfer. I’ve been working hard on that. It’s kind of hard to do it if you start this late in life,” he said.

The comics then asked him about his movie career, with Mr. Gallon having a special interest because of his own career as a screenwriter. Mr. Ramsay said that a lot of the writers in the Philippines write a film or a character with an actor already in mind. “Which I think is something that should be changed, actually,” said Mr. Ramsay.

As it has with most people, the pandemic has placed a damper on his own plans: he had been tapped to do a foreign film with Australian actor Sam Worthington. “It was a police film. I was really excited to get my hands on that character, but unfortunately, COVID happened. They moved it back,” said Mr. Ramsey. This led to a discussion of the roles he favored: one of his favorites was playing a drug-addled cop for Brillante Mendoza’s Amo for which he lost 25 pounds. “It wasn’t the matinee idol thing,” he said.

“There’s so much more you can do with the bad guy. You don’t have to make people like you. You piss people off — not that I enjoy pissing people off. As an actor, you can just become more — you can go crazy with it.”

When the hosts asked what sort of movie he would pitch for himself, he turned the question around. “Can I answer with something that I don’t want to be pitched to me, which is two girls fighting over a guy?”

While Mr. Ramsay had appeared on runways, ads, TV shows, and many films, No Other Woman, a film where he cheats on Cristine Reyes with a glamorous Anne Curtis, cemented his place in Philippine pop culture. This paved the way for other roles where he is again fought over by two beautiful women who reserve sharp barbs for their rival. “I think, Jeps, we’ve been there, done that, let’s move on. No more adultery and all of that,” said Mr. Ramsay. “That was at the young stages of my career. After that, it was another one, and then I realized: parang ako na lang lagi playing this guy (I was always playing the same guy).” He remedied this by watching his previous performances and trying not to bring what the previous role demanded to the next. “Let’s make it a little different.”

Mr. Ramsay didn’t seem to enjoy shooting a sexy beach scene in No Other Woman noted Mr. Trogo — a fact Mr. Ramsay acknowledges, thanks to the hot lights, saltwater, and spanx (his) that came off.

He does look fondly on his role as Jeremy on English Only, Please, which won him a Best Actor award at the 40th Metro Manila Film Festival. “They said they saw a different side of me. That’s what I’ve been wanting for so long.”

Another role he would have enjoyed was teaching: “If I weren’t an actor, I’d definitely be teaching, maybe history; maybe math. I took up Math as my major in the UK — which was my weakest subject in High School. I learned to love it.”

Mr. Ramsay is also known as an endorser for Dunkin Donuts, a happy accident brought on by an interview where he professed his love for doughnuts. As a college student in Boston, he said that he and his friends would study in a nearby Dunkin Donuts. Learning that leftover doughnuts were thrown at midnight, they befriended the doughnut guy, bought coffee, and got lots of doughnuts. Dunkin Donuts then got in touch with him. “This is like heaven for me!”

“When we do the commercials, I eat the doughnuts. Not eat and spit it out,” he said. “When I watch a movie, I can eat a dozen donuts straight. No one believes me.”

Of course, for some people, his most iconic role was playing a cop chasing movie pirates in a public service announcement (PSA) that plays before any film screens in the cinemas as a way to deter film piracy. In it, he places a hand on a man recording the movie and says, “Pare, pulis ako (Dude, I’m a cop).”

“You haven’t made it unless you’ve become a meme!,” said Mr. Ramsay, strangely proud of the direction that PSA took him. “Naging ‘Mais Ako’ (I’m a corncob). May picture ng mais tapos mukha ko (There was a picture of a cob of corn with my face on it).

“I did that, I wasn’t paid for that, I enjoyed shooting that,” he said of the PSA. “We have to pitch in and do what we can do to help Philippine cinema.”

Catch the episode and other jokes by The Kids Are Asleep on facebook.com/thekidsareasleeplive. — Joseph L. Garcia

Basic Energy agrees to sell 67% interest to property company

BASIC ENERGY Corp. announced that a real estate firm is set to acquire at least 67% of its outstanding capital stock.

In a stock exchange disclosure on Monday, the company said it signed a memorandum of agreement that provided for the sale of its 9.83 billion primary shares to MAP 2000 Development Corp. (M2DC).

The shares will be subscribed and issued out of the increase in Basic Energy’s authorized capital stock to P5 billion from P2.5 billion, which is awaiting approval from the Securities and Exchange Commission (SEC).

“[The] said capital increase was approved by the company’s stockholders at the annual stockholders’ meeting held last October 23, 2020,” the disclosure said.

In a disclosure in October, Basic Energy said it had secured approval from its stakeholders to double its authorized capital stock to P5 billion, which consists of 20 billion shares that have a par value of P0.25 per share.

The company said the increase in its authorized capital stock was meant to create enough shares of stock for subscription by possible investors.

“This is also to provide flexibility to the company in the issuance of additional sharers in the future to raise capital to fund new projects and possible expansion of existing projects, without having to secure SEC approval again for an additional increase in capital stock,” the company said.

According to the disclosure, M2DC is a Philippine-registered company that has business interests in real estate acquisition, development, and management, among others.

Basic Energy shares were last traded on Dec. 18, when it closed at P0.470 apiece. — Revin Mikhael D. Ochave

Entertainment News (12/22/20)

Chinese drama on WeTV

THE CHINESE costume drama The Legend of Fei premiered globally and can be streamed exclusively on WeTV, with fresh episodes streamed daily. Following on the heels of last year’s blockbuster hit series The Untamed, Legend of Fei is also an adaptation of the novel Bandit by Chinese author Priest. Legend of Fei is the story of the 48 Strongholds of the Shu Mountains and the warriors and bandits who are sworn to protect it. The tale unfolds over 50 episodes. To stream The Legend of Fei, along with other Asian Premium Content, download the WeTV app from the App store and Google Play. To catch more episodes of this epic adventure, subscribe to WeTV VIP at P59 monthly, quarterly at P159, or annually at P599.

Lilystars Christmas album

PHILIPPINE indie music label Lilystars Records has released IN REVERIE: A Lilystars Christmas Compilation, an 11-track album with heartfelt music for the holiday season. With Hallmark-inspired melodies, vibrant arrangements, and intimate songwriting, the songs in IN REVERIE offer an alternative listening experience for those who want their Christmas jams a little bit on the obscure side. It covers a diverse selection of tunes with genres spanning pop, folk, blues, jazz, indie rock, twee, electronic pop, post-punk, and alternative music. Eleven artists from Lilystars Records participated in the call for submissions: Orange & Lemons, Meagan Trees, The Bloomfields, Project Orange, Dey Rose, Dustybuns, Parasouls, The Charmes, The Geeks, Kubra Commander, and Starry Eyed Cadet. IN REVERIE: A Lilystars Christmas Compilation is now available on all digital platforms worldwide via Lilystars Records.

HBO renews drama Industry

HBO’s drama series Industry has been renewed for a second season. This series will conclude its eight-episode first season with the final two episodes airing back-to-back same time as the US on Tuesday, Dec. 22, at 11 a.m. and 12 p.m. on HBO GO and HBO, with a same day encore at 11 p.m. on HBO. Industry follows a group of young graduates competing for a limited number of permanent positions at a leading international bank in London. Industry gives an insider’s view of the blackbox of “high finance” through the eyes of an outsider. Stream or download Industry on HBO GO. Download the app at the App Store or Play Store on your device and enjoy a seven-day free trial. Access HBO GO via Cignal or at https://www.hbogoasia.com/. HBO GO can now be accessed via Android TV, Apple TV, LG TV and Samsung Smart TV — and comes with AirPlay and Google Cast functionality.

Third season of 24X24

WRAP up the year 2020 and kick-off 2021 with the inspiring stories of Filipinas who are making their names and changing landscapes in different industries overseas on the third season of 24×24, airing outside the Philippines via ANC, TFC IPTV, and iWantTFC. The eight-episode series features empowering stories of women living overseas, juggling multiple roles while also living a life where they get to fulfill their passions to make a difference. Season three includes the stories of Ruby Ibarra, a scientist and musician based in California; Cherish Maningat is a theater and TV actress in South Korea; ABS-CBN Global Head of Music Roslynn Cobarrubias is a marketing advisor and TV and music producer; Denise Facurra-Svenson, owner of Medium Asia PR Agency; social entrepreneur and career advisor Michelle Ostbo who is based in Norway; ULAM the Movie producer and director Ali Cuerdo from New York; Hershey Hilado, an entrepreneur and owner of RVMP in Australia; and K-Pop star Kriesha Chu from South Korea. The show now airs outside the Philippines on ANC every Saturday for countries from the Middle East, Africa, Asia, and Pacific, and every Friday for countries in Europe, the US, and Canada. It can also be seen via TFC IPTV, and on iWantTFC via the app or at iwanttfc.com. For details about the program, visit iwanttfc.com, mytfc.com, or TFC’s official Facebook pages.

Netfix producing live action version of manga Yu Yu Hakusho

NETFLIX has announced it will produce a live action series based on the legendary hit manga Yu Yu Hakusho. Originally serialized in Weekly Shonen Jump for four years from 1990, Yu Yu Hakusho was later adapted into an anime series that aired from 1992 to 1995. Straddling the worlds of humans, spirits and demons, the characters take on a series of challenges in this fantasy adventure series. The manga series is still talked about among its fans even after ending over a quarter century ago. Yu Yu Hakusho will now be a live action Netflix Original Series. The story revolves around Yusuke Urameshi, a high school student who spends his days getting into fights. One day, he dies in an accident while trying to protect a young child, and as he grapples with the fact that he is looking down on his dead body, a woman named Botan who calls herself a guide to the spirit world relays to him the shocking truth: no one expected a delinquent like Yusuke to die performing an act of goodness, and there was no place for him in either heaven or hell. Thus, Yusuke is given a chance to be revived, and after passing his trial, he becomes an Underworld Detective. From there, Yusuke quickly becomes entwined in a mystery that envelopes the human, demon and spirit worlds. The Netflix Original Series Yu Yu Hakusho will be released worldwide, only on Netflix.

Ben&Ben music video stars KathNiel

ACTORS Kathryn Bernardo and Daniel Padilla play a romantic couple stuck in a time loop in the new music video for Ben&Ben’s song “Sa Susunod na Habang Buhay.” Helmed by the band’s resident director Jorel Lising and written by Gaya Sa Pelikula creator Juan Miguel Severo, the song’s visual narrative explores the complicated relationship dynamics of two lovers who have lost and found each other in a fated cycle of events. The music video of Ben&Ben’s “Sa Susunod na Habang Buhay” is out now via Sony Music Philippines.

Developer says projects are ‘disaster-ready’

THE PHILIPPINES faces a number of natural disasters every year, so it is only natural for Filipinos to want to own homes that are “disaster-ready.”

Century Properties Group (CPG) recognizes the importance of developing projects that are attractive and uphold the safety and well-being of the community.

In a statement, CPG said it properly graded the site of The Residences at Commonwealth in Quezon City to ensure the water runoff drains to the proper outfall locations.

The site for the Residences at Azure North in San Fernando, Pampanga was back filled by 3 to 4 meters to elevate the finish grade. It also incorporated an adequate drainage design for flood readiness.

CPG said Century City in Makati City has a flood-prevention and mitigation system that involved the installation of sump pumps within the buildings that dump water into the drainage.

The developer said its buildings follow the National Building Code, and has a team of engineers and architects to ensure the integrity of its buildings in Century City Makati, The Residences at Commonwealth, the Residences at Azure North in San Fernando, Pampanga; Acqua Private Residences in Mandaluyong and Azure Urban Resort Residences in Parañaque City.

“The high-rise condominiums developed by the company also employ SMRF or Special Moment Resisting Frame, which are frames with members and joints that allow buildings to withstand the forces caused by an earthquake. For its much taller buildings that dot the skyline, the company uses Performance-Based Design methods — considered as a gold standard in designing skyscrapers around the world as it specifies design parameters for a building to withstand the seven strongest earthquakes within the past 2,500 years,” CPG said.

CPG also noted its projects have proper safety equipment in case of fire and other emergencies. Property management staff also undergo training so they know what to do during emergencies.

First Gen unit picks 3 foreign firms for LNG carrier

A UNIT of First Gen Corp. has selected three foreign firms to advance to the next round of the tender process for the charter of a floating storage regasification unit (FSRU), the Lopez-led company said in a regulatory filing on Monday.

The charter of the vessel is part of FGEN LNG Corp.’s $300-million interim offshore liquefied natural gas (LNG) terminal project in Batangas City. The preferred tenderers are BW Gas Ltd., Dynagas Ltd., and Höegh LNG Asia Pte Ltd. They will move on to the next stage of the binding tender process.

The offshore LNG terminal is expected to accelerate the entry of the imported fuel into the country by the third quarter of 2022. It will serve the natural gas needs of existing and future gas-fired power plants of affiliates and third parties.

Norway-based BW Gas and Höegh specialize in LNG transportation and floating regasification services, while Greece-headquartered Dynagas is an LNG maritime transportation company with a fleet of 15 LNG carriers.

An FSRU is an LNG carrier and contains an onboard regasification plant, which can turn LNG back into gas.

In October, First Gen said it had sent out binding tender invitations to three chosen contractors for the FSRU, namely: BW Gas, Höegh, and New York-listed GasLog’s unit GasLog LNG Services Ltd. Dynagas was added in the list last month.

Also in October, FGEN LNG chose McConnell Dowell Philippines, Inc., the local unit of an Australian contractor, for the LNG terminal’s engineering, procurement, and construction (EPC) contract. The contract was signed last month.

First Gen and Japan’s Tokyo Gas Co., Ltd. also signed a joint cooperation agreement to pursue the design, development, testing, commissioning, construction, ownership, and operations and maintenance of the interim offshore gas project.

The latest deal stated that Tokyo Gas would own a 20% interest in the project. As it makes its final investment decision, it would then enter into a definitive agreement with First Gen.

Shares in First Gen on Monday inched up 3.19% to close at P29.10 apiece. — Angelica Y. Yang

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