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Loftier luxe: Refreshed Bentley Bentayga raises bar in SUV opulence

Regal ride expected in PHL by Q3

THERE WAS a time when the SUV was a segment ultra-premium brands dared not touch with their velvet-gloved hands. Maybe it felt too much like getting their hands dirty with utilitarian ethos. After all, it’s called a utility vehicle, for crying out loud.

Those days must seem so far away now. Show me a luxe brand without an SUV and I’ll show you a missed opportunity. Thing is, it appears that a love for SUV or crossovers is a universal phenomenon that cuts across demographics. When one in three vehicles sold is a crossover, it behooves you to cover that base.

First presented as a concept car called the EXP 9 F at the 2012 staging of the Geneva Motor Show, what would eventually be the Bentayga was first revealed in 2015 (with a 2016 model year). It had been named after the Roque Bentayga in Gran Canaria of the subtropical Canary Island, and also the Taiga snow forest of the northern hemisphere. After more than 20,000 handcrafted units sold, who could fault Bentley for the Bentayga?

Now it’s time for a refresh, and Bentley has done just that. Launched live online at 5 p.m. last June 30 in the UK (midnight of July 1 here), the new (not yet all-new) iteration of Bentley’s SUV is also the first car launched under Bentley’s “Beyond100” business plan.

It banners a new exterior styling, which is said to adopt “the Bentley design DNA now prevalent across the entire model range, giving Bentley the freshest and most modern product family of any luxury car company,” according to a release. Bentley has also given the vehicle new technology “and an even more cosseting cabin.”

Bentley pointed that its top-selling model combines “the abilities of a performance grand tourer, a luxury limousine, a spacious family car and an off-roader, (and) the new Bentayga follows its predecessor’s mantle of having the broadest brief of any car on sale today.”

Averred Bentley Motors Chairman and Chief Executive Adrian Hallmark: “From its moment of launch nearly five years ago, the Bentayga has been the very definition of the luxury SUV. Like the Continental GT, the Bentayga created an entirely new part of the market, and since we set the benchmark many others have joined the sector, but no other car can offer a breadth of ability to rival the Bentayga.”

He added that the changes in the vehicle is a result of listening to what Bentley customers (up to 70% of whom were new to the brand) want and making improvements “to the areas most important to them.” These areas were “exterior presence, infotainment system and rear seat package.”

As mentioned, the new Bentayga now fits in more nicely with the Bentley line’s design language. This was, according to the company, introduced by the third-generation Continental GT and all-new Flying Spur. “Together, the three cars form a new family that are more visually connected than ever before. The bold styling offers an imposing road presence, with every panel at the front of the car redesigned for a cleaner, modern look.”

The matrix grille has been made larger and more upright, while the new, intelligent matrix headlight features a Bentley design inspired by cut crystal glassware. “A more aggressive front bumper emphasizes the performance characteristics of the car. Heated, wet-arm windscreen wipers are introduced for the first time, with 22 washer jets in each arm.” Yes, 22 washer jets.

At the rear, it gets a new full-width tailgate with new encapsulated lamps, as the license plate has been pushed down to the bumper. It gets wide, split tailpipes suggestive of its powerful performance, while the rear track has been upped by 20 millimeters. The wheels are unique to the Bentayga.

Inside is a new center fascia and steering wheel, new door trims and all-new seats — now available with ventilation in the rear of the five-seat cabin option. Rear passengers also get more space of up to 100mm of legroom, depending on configuration.

On the handcrafted wing dashboard design is Bentley’s next-generation infotainment system with a 10.9-inch display screen and edge-to-edge graphics. “The all-new digital display includes super high-resolution and dynamic graphics which are configurable to suit driver preferences.

“The latest hardware and software bring all-new navigation with satellite maps, online search and other features. Wireless Apple CarPlay is standard for the first time, alongside the existing wired system, along with Android Auto (market dependent). Rear seat occupants benefit from the introduction of a new, larger touchscreen remote control tablet, similar to that introduced in the all-new Flying Spur.”

The UK car maker reported that the Bentayga now has USB-C data ports and a wireless phone charger as standard. Like new Continental GT models, the Bentayga gets an embedded SIM so that the My Bentley connected car features “no longer require customers to provide their own data connection.” The dedicated app, available on both Apple iOS and Android mobile platforms, is undergoing continuous development and refinement.

“The luxurious interior can be further enhanced with the application of dark tint diamond brushed aluminum trim for the first time in a Bentley, as well as two straight-grained veneers new to Bentayga: Koa and Crown Cut Walnut. Mulliner Driving Specification adds a new quilting design, and micro piping detailing is a new option for the seats.”

Initially available to power the new vehicle is a 4.0-liter, twin-turbocharged petrol V8 engine putting forth 550ps and 770Nm. The plug-in hybrid and W12-powered Speed versions should follow this year.

PGA Cars, authorized Bentley distributor and service provider in the country, confirmed to “Velocity” that the new vehicle will make its way into the market soon. “It should be here by the third quarter, and discerning consumers for whom only the best will do can definitely place their reservations on this extraordinary luxury vehicle.”

Yields on gov’t debt drop

YIELDS ON government securities declined last week amid lingering effects of the surprise half-percentage-point cut by the Bangko Sentral ng Pilipinas (BSP).

Debt yields, which move opposite to prices, went down by 18.9 basis points (bps) on average week on week, the PHP Bloomberg Valuation Service Reference Rates as of July 3 published on the Philippine Dealing System’s website showed.

“The biggest driver for the downward move in yields this week was the BSP’s unexpected decision to cut the key rate by 50 bps [on June 25],” Carlyn Therese X. Dulay, first vice-president and head of Wholesale Treasury Sales at Security Bank Corp., said in an e-mail.

“This caused market players to chase good yield given the big slash in the policy rate and as a result, the whole GS curve moved down by around 60-70 bps from levels prior to the BSP decision,” Ms. Dulay said.

“Dealers/investors scrambled for safe-haven assets. The rally was evident across the curve with some series even exceeding 50 bps drop since June 25,” a bond trader said in a separate e-mail.

In a surprise move, the central bank on June 25 trimmed benchmark rates by 50 bps to record lows to prop up the economy amid gloomy prospects brought by the coronavirus pandemic.

Overnight reverse repurchase, deposit and lending rates now stand at 2.25%, 1.75%, and 2.75%

“Much of the rally is on the short end of the curve with abundant liquidity still coming into play,” said Ms. Dulay.

“It looks like banks still have a lot of cash to park and as a result, the two-year [debt] and below are trading sub 2% and the three- to five-year [papers] sub 2.25%, while the rest of the curve is seeing relatively thinner volumes. Banks may not yet take in longer duration heavily as pandemic concerns are still present and further BSP intervention becomes less likely given the drastic measures they have already taken,” she added.

At the secondary market last Friday, yields on nearly all benchmark tenors were lower than week-ago levels, except for the longer 20- and 25-year bonds, which increased 8.9 bps and 34.6 bps, respectively, to 3.588% and 3.659%.

Yields on 91-, 182-, and 364-day Treasury bills declined by 30 bps, 32.6 bps, and 61.5 bps, respectively, to fetch 1.827%, 1.873%, and 1.948%.

Rates of the two-, three-, four-, five- and seven-year Treasury bonds (T-bonds) also went down by 28 bps (to 2.096%), 27.8 bps (2.205%), 25.9 bps (2.311%), 21.9 bps (2.423%) and 12.3 bps (2.641%) respectively.

Yield on 10-year T-bond likewise dropped by 11.6 bps to 2.814%.

For this week, Ms. Dulay expects rates of short tenors to “remain contained with cash ready to come in after any upward movement in yields.”

“This behavior may extend to the belly of the curve (five-year sector) as well. Beyond this tenor, there is a probability that yields may follow an upward trend given the supply coming in this month, particularly of seven- and 10-year bonds,” added Ms. Dulay.

For the bond trader, “we see yields to move sideways with a downward bias as the market will try to position itself ahead of the 10-year bond auction. Also, expect the market to take its cue from the latest CPI (consumer price index) data.”

Last Friday, the Bureau of the Treasury announced that it will issue on July 7 fresh P30-billion 10-year bonds, instead of the seven-year paper reissuance.

The Philippine Statistics Authority will report June inflation data on Tuesday, July 7. — Lourdes O. Pilar

PT&T partners with software provider Maxava for business recovery solutions

Philippine Telegraph and Telephone Co. (PT&T) has partnered with multinational disaster recovery software solutions provider Maxava to offer business resiliency solutions to Philippine companies.

“PT&T and Maxava are in a unique position to provide superior resiliency services,” the listed telecommunications company said in a statement e-mailed to reporters at the weekend.

“The partnership was signed by PT&T’s IT Services business unit headed by Ella Mae Ortega and James G. Velasquez, president and chief executive officer of PT&T, together with Simon O’Sullivan, senior vice president of Maxava,” it added.

PT&T said its partnership with Maxava, a global provider of innovative monitoring, high availability, and disaster recovery solutions for IBM Power Systems, “solidifies” its thrust to offer its clients with “industry-leading business resiliency solutions especially now that companies have seen the importance of resilience and business continuity in the current COVID-19 (coronavirus disease 2019) crisis.”

PT&T noted that Maxava currently serves more than 500 customers in over 40 countries, providing support directly through its regional offices in North America, Europe, and the Asia Pacific.

Ms. Ortega said that a pandemic is just one type of a crisis that companies will have to face. “We have to be prepared to thrive and not merely survive whatever the conditions.”

Maxava’s Mr. O’Sullivan said: “While all countries need to be prepared for manmade risks, the Philippines like many other countries, also needs to be ‘disaster recovery ready’ for the heightened potential of natural disasters. In the field of data and IT, Maxava is determined to offer Philippine companies the best of breed solutions for disaster recovery.”

“The Maxava High Availability Suite can open the door for organizations to have a secure disaster recovery plan, no matter what the size or scope of their operation,” he added.

PT&T trimmed its net loss in the first quarter by 23.4% after revenues from its broadband business improved.

The company incurred a net loss of P15.60 million for the first three months, down from the P20.36 million it reported during the same period last year.

Its total revenues for the quarter stood at P107.38 million, an improvement of 38.5% from the previous year’s P77.56 million.

PT&T said it remains keen on its plan to provide mobile services, as the penetration of smartphones continues to grow and the advent of 5G technology provides an ability for the company to enhance various applications. — Arjay L. Balinbin

Carabao center joins milk feeding program for malnourished children

carabao
RFU6.DA.GOV.PH

THE Philippine Carabao Center (PCC) said it entered into partnerships to provide milk to malnourished children in Nueva Ecija.

In a statement, the PCC said it signed a Memorandum of Agreement with the Philippine Council for Agriculture and Fisheries (PCAF) and the Nueva Ecija Federation of Dairy Carabao Cooperatives.

The milk feeding program will cover selected barangays in Talavera, Nueva Ecija. The expected beneficiaries number 46 and are aged between three and five years.

The program’s other objective is to ensure that dairy farmers generate stable income.

The PCAF has procured P100,000 worth of carabao milk for use in the milk feeding program, which will run for three months starting June 1. — Revin Mikhael D. Ochave

Sent packing: Germany sets out to fry the cheap meat trade

BERLIN — How much should a slice of meat cost? More, says German Agriculture Minister Julia Klöckner.

Following a coronavirus outbreak at a German abattoir which cast a spotlight on standards in the industry, Ms. Klöckner is trying to wean German households — many on tight budgets — off low-cost meat.

“Meat is too cheap,” Ms. Klöckner told Reuters. “Lurid advertising with low prices for meat does not fit with appreciation and sustainability … This is no longer acceptable.”

Cut price meat, from peppered salami to the traditional sausage or Wurst, is a staple for many German consumers but a recent COVID-19 (coronavirus disease 2019) outbreak at a meat plant in the west of the country has raised questions about some of the measures taken to keep prices down.

Efforts to track down people affected by the virus were hampered when some slaughterhouses were unable to give the home addresses of all their workers because they were relying on sub-contracting firms to supply them with migrant labor

Some of the sub-contracting firms were themselves also relying on sub-contractors to get them staff.

German Labor Minister Hubertus Heil condemned the system of “sub-sub-sub-contracting” in abattoirs and is introducing a new law compelling meatpackers to employ staff directly.

In addition, Agriculture Minister Klöckner plans a raft of measures to address what she calls the “serious consequences” of downward meat price pressures on animal welfare, working conditions in abattoirs and farmers’ incomes — a move she knows risks driving business abroad, with a loss of control over standards.

Ms. Klöckner has proposed an animal welfare levy to compensate farmers for the cost of better husbandry of their livestock and to counter the risk of driving meat processing abroad, she will also push for European animal welfare labelling on meat goods.

“Meat should not be a luxury commodity for the rich, but also not an everyday junk product,” she said at a meeting with meat industry and retail representatives on June 26.

The cost of living website Numbeo estimates a kilo of beef leg costs 10.64 euros in Germany against 16.67 euros in France, 14.58 euros in the Netherlands or 12.32 euros in Denmark.

German meat processing industry association VDF said the industry will accept change.

“The sector has decided to depart from the system of worker contracts in slaughtering, cutting and packing of meat as fast as possible,” VDF director Heike Harstick said.

German poultry meatpackers will also end sub-contracting by early 2021, but the transfer to permanent employment will lead to rising production costs and so higher prices for poultry meat products, association ZDG said.

“We expect that food retailers and consumers show willingness to accept these costs,” ZDG President Friedrich-Otto Ripke said.

The German farmers’ association DBV also supported the government’s move on slaughterhouses.

Taken together, Ms. Klöckner’s plans and a government move to tighten meat processing labor standards are sure to push up meat prices and lessen Germany’s comparative advantage in the trade versus other west European countries, Hubertus Gay, senior agricultural policy analyst at the OECD, said.

“The question is how much less — will it only affect additional growth (in the German market) or will it lead to a reduction compared to others? There, it’s too early to call,” he said.

However, the impact on retail prices may be relatively moderate.

“Feed usually makes up the largest cost block in meat production while the cost of slaughtering makes up a relatively small share of the cost per kilogram of meat,” said Rabobank analyst Stefan Vogel. — Reuters

Under Armour holding end-of-season sale

SPORTS gear and apparel manufacturer Under Armour is currently holding an end-of-season sale which runs until Aug. 2 and offers up to 50% off on selected Under Armour items.

Further, if one buys two items, they will get an additional 10% discount while buying three items affords a 15% price cut from the total purchase.

Items on offer are workout gear, trainers, accessories, and other sporting goods.

To assist customers amid safety concerns over the coronavirus disease 2019 (COVID-19) pandemic, the Under Armour sale also covers Viber & Collect so one can shop from the comfort of their home.

To check and avail of the end-of-season sale, drop by or reach out to participating Under Armour brand houses — Under Armour Bonifacio High Street (0997-533-2157 / 0956-245-3027), Under Armour SM Mall of Asia (0917-834-2886 / 0917-875-3656), Under Armour Trinoma (0917-833-0193 / 0917-851-7805), Under Armour Megamall (0935-227-1780 / 0995-942-0849), and Under Armour Greenbelt 3 (0977-854-4879 / 0965-556-6760 / 0919-082-1391).

Further details are posted on AthletesPro’s Instagram and Facebook accounts.

AtheletesPro, established in 2018, is a sports retailer which holds the exclusive distribution rights for the Under Armour brand in the Philippines. — Michael Angelo S. Murillo

OUTLIER: Altus sustains market interest following previous week’s listing

By Jobo E. Hernandez, Researcher

INVESTOR EXCITEMENT over new listings made newly introduced Altus Property Ventures, Inc. (APVI) one of the most actively traded stocks last week.

Following its debut on June 26, enthusiasm over the real estate firm persisted with a total of 60.58 million shares worth P2.42 billion being traded from June 29 to July 3, data from the Philippine Stock Exchange (PSE) showed. This made it the second most actively traded issue during the period.

APVI ended at P30 apiece on Friday, up 62.2% from its P18.5 closing price a week before.

“The excitement in new listings (as we saw in MerryMart Consumer Corp.’s initial public offering) appeared to have carried over to APVI’s listing [on June 26], buoying price action. As a real estate company, having a strong recurring income is important,” said China Bank Securities Corp. Research Director Rastine Mackie D. Mercado in an e-mail, noting the firm generates leasing income from the North Wing of Robinsons Place Ilocos Norte.

Mr. Mercado also pointed to the company’s development plans as a “positive catalyst.”

In a separate e-mail, Unicapital Securities, Inc. Equity Analyst King A. De Mesa shared a similar assessment: “The market is pretty weak during this time amid uncertainty regarding the real economic condition and second-quarter corporate earnings. Traders have found some excitement trading the newly listed APVI amid the weak market, just like MerryMart,” he said.

“APVI’s stock price doesn’t really reflect the value of its business. APVI is becoming more like a speculative stock in my view,” he added.

Altus, a former unit of Robinsons Land Corp. (RLC), made its debut in the local stock market on June 26 by way of introduction, or without immediately offering its shares publicly.

The real estate company, which was incorporated in 2007, applied with the small, medium and emerging board of the Philippine Stock Exchange last year to list its total issued and outstanding common shares of 100,000,000 by way of introduction via RLC’s declaration of a property dividend to its shareholders.

With an initial listing price of P10.10 per share, Altus’s stock price went up to as high as P240 per share before closing at P18.5 per share on June 26.

Last week saw the price go up to as much as P59.8 on Wednesday before settling at P42.1 that day. The remainder of the week saw market players take profits with an intra-day low of P28.3 on Friday before partially rebounding at P30 to finish the week.

Listed conglomerate JG Summit Holdings, Inc. now owns 60.97% of APVI’s total outstanding capital stock upon receiving 60,972,361 shares.

In a regulatory filing last Wednesday, the company reported a 20.5% decrease in its net income to P14.84 million in the first quarter from P18.67 million in the same quarter last year.

Meanwhile, its full-year net income last year went up by 11.5% to P64.48 million versus the P57.82 million posted the previous year.

“APVI will be hit significantly after the imposition of lockdown measures just like other mall operators. APVI also operates only one mall on Ilocos Norte, posing a significant risk to its cash flows,” Unicapital’s Mr. De Mesa said.

For China Bank Securities’ Mr. Mercado, key risks for the firm “include the possibility of higher vacancy rates (due to business/tenant closures or shift of consumer preference towards online shopping), possible rent concessions, and muted recovery in foot traffic.”

Mr. Mercado placed the stock’s support and initial resistance at P17 and P48.15, respectively.

Peso to climb on expectations of strong local data

THE PESO is expected to appreciate this week, to be supported by local data releases, including inflation and trade balance.

The local unit closed at P49.55 versus the dollar on Friday, appreciating by 18 centavos from its P49.73 finish on Thursday, data from the Bankers Association of the Philippines showed.

The peso also strengthened by 37 centavos from its P49.92 close on June 26.

The market favored the peso over the dollar amid a continued surge in infections in the US, said Ruben Carlo O. Asuncion, chief economist at UnionBank of the Philippines, Inc.

“The dollar weakness comes from investors still weighing signs of increasing COVID-19 (coronavirus disease 2019) infections in the [world’s] biggest economy, potentially hurting quick recovery hopes,” Mr. Asuncion said in a text message.

Meanwhile, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said the peso was supported by prospects of a vaccine for the virus and the improvements in US jobs data.

“The peso exchange rate closed the strongest in more than three years or since June 14, 2017’s close of P49.505, after stronger-than-expected US jobs data and positive developments on possible vaccine versus COVID-19 led to improved global market risk appetite,” he said in a text message.

Data from the US Labor department showed nonfarm payrolls increased by 4.8 million jobs in June, Reuters reported. This is a record high since the government started keeping records in 1939, on the back of the reopening of more restaurants and bars as restrictions have been eased.

Analysts said the peso will keep strengthening versus the greenback this week on local data.

“The peso is expected to continue its strength with economic data releases (June inflation, exports and imports) possibly providing downward pressures),” Mr. Asuncion said.

A BusinessWorld poll of 16 economists yielded a median estimate of 2.2% for June headline inflation, within the 1.9% to 2.7% forecast range of the Bangko Sentral ng Pilipinas’ Department of Economic Research and the 2-4% target this year. If realized, the estimate would be quicker than the 2.1% pace in May but still slower than the 2.7% seen in June 2019.

Analysts said increases in oil and rice prices were the upside pressures to inflation.

The Philippine Statistics Authority will report June inflation and May international merchandise trade data on July 7 and 10, respectively.

Aside from these, the market will also watch development related to COVID-19, said Mr. Ricafort.

“Markets would also take cues on any further progress on possible vaccines versus COVID-19,” he said.

For this week, Mr. Asuncion said the peso could move around the P49.60 to P50.00 levels while Mr. Ricafort gave a forecast range of P50.30 to P50.80 per dollar. — L.W.T. Noble with Reuters

Positive economic data to lift stocks this week

PHILIPPINE SHARES may continue moving sideways this week with an upward bias as positive economic data across the world are expected to continue.

The benchmark Philippine Stock Exchange index (PSEi) picked up 8.58 points or 0.13% to close at 6,372.66 on Friday. On a weekly basis, the PSEi went up 3% to reverse the 1.95% decline in the prior week.

Value turnover rose 27% to an average of P8.48 billion. Foreign investors became net buyers with net inflows reaching an average of P1.08 billion, reversing the previous week’s average net foreign selling of P1.15 billion.

AAA Southeast Equities, Inc. Research Head Christopher John Mangun said the positive performance in the local bourse was in line with other markets which were boosted by better-than-expected economic data.

Among these were the improvements in manufacturing data in many economies including the Philippines and the growth in nonfarm payrolls in the United States.

“The PSEi started the week lower as it moved toward its support at 5,950, but then, it quickly changed course and started moving higher as bargain hunters took advantage of low prices,” Mr. Mangun said in a market note.

In the coming week, Mr. Mangun said the market may keep its upward trajectory as June marked the third consecutive month of the PSEi’s gains.

“After last week’s performance, we may see the main index continue higher and test its next resistance at 6,600. A successful breakout above this resistance level by the end of the week will signal an even stronger move higher in the coming weeks,” he said.

For Philstocks Financial, Inc. Research Associate Claire T. Alviar, the market is likely to move sideways with investors still weighing economic recovery hopes against mounting cases of coronavirus infections in the Philippines.

“The difference between past weeks and (this) week is the optimism for the week ahead could be higher given the strong data coming offshore… This can boost investors’ sentiment as it can be viewed as the start of economic recovery,” she said in a text message.

“Here at home, recovery hopes have also started as the government eased lockdown measures, and more businesses are reopened already with additional available transportation modes,” Ms. Alviar added.

She also said investors may price in comments from Socioeconomic Planning Acting Secretary Karl Kendrick T. Chua that the gradual recovery of the local economy may start this month.

Investors will also await the June inflation report of the Philippine Statistics Authority to be released on Tuesday.

“Anticipated benign June inflation rate to be released…could add positive sentiment as this may, at least, strengthen purchasing power — helpful in the consumer stocks, as well as in the overall economy,” Ms. Alviar said.

AAA Southeast Equities’ Mr. Mangun is putting support for the market within 6,040-6,350 and resistance within 6,600-6,800. — Denise A. Valdez

Toyota gets its e-game on with GR Supra GT Cup Asia-Philippines

NOWADAYS when most sporting (and motorsports) events have been shut down by the COVID-19 pandemic, Toyota Motor Philippines (TMP) is leveraging the power of the digital medium to capture the familiar waku-doki (heart-pumping excitement) — particularly of its grassroots-level event Vios Racing Festival (VRF) — with the Philippine staging of the GR Supra Cup Asia.

With this, TMP ventures for the first time into e-motorsports. The competition is organized under Toyota’s global Gazoo Racing brand, and the company said in a release that “the virtual racing tournament aims to find the Philippines’ top esports racers who will represent the country in the Asian Regional Round in the last quarter of this year.”

It could be recalled that TMP’s long-running VRF one-make-race’s 2020 calendar had been scuttled due to the pandemic, so the GR Supra Cup Asia takes its place, albeit online, bannering the brand’s premier sports car.

Tuason Racing School (TRS) has been tapped to help stage the esporting event which boasts two classes: Promotional (for novice drivers with no professional esports background), and Sporting (for intermediate and professional e-racers). Qualified to join are Filipino gamers aged 18 and above, who will compete against other participants for a chance to represent the country against other contenders from Asia Pacific countries in the GR Supra GT Cup Asia Regional Round.

How does it work? Responding to a question from “Velocity,” the minimum requirements, according to JP Tuason of TRS, is a PlayStation 4 console, a Gran Turismo Sport game, and decent Internet service. Underscoring how easy it is to join, Mr. Tuason said that a second-hand gaming console might cost P9,000, then the game itself around P1,000. The participant also needs to register to the PlayStation Network (which will require a valid credit card, which won’t be charged). “That’s why we have an 18-and-above requirement,” he explained.

Mr. Tuason said he and the rest of the organizers are aware of Internet speed limitations in many parts of the country, so the events will be held at night when bandwidth is typically better. A faster connection also helps assure that participants won’t be disconnected from the game while it’s on.

“The qualifying rounds will start this July and will be concluded with the grand finals in August, in time for the regional competition towards the latter part of the year. To join, interested players may check out the complete mechanics and register online via toyota.com.ph/gtcup,” said TMP.

A separate class for media and celebrity partners will be created based on a different selection process by TMP. A Junior Class, where racers below 18 years old can join, will also be opened, but winners cannot qualify for the regional round in compliance with international tournament rules.

TMP President Atsuhiro Okamoto said, “This e-motorsports program will not only continue Toyota’s racing legacy, but will also discover the Philippines’ top esports talents. We are very excited to find them so they can represent the country in our international races.”

The company also announced its support to pandemic frontliners who have been working to keep road safety in check. “Our motorsports programs have always been linked with our responsible driving and road safety advocacy. The GR Supra GT Cup is no different,” declared TMP Executive Vice-President Kei Mizuguchi. “We are encouraging our racers and livestream viewers to donate any amount to be used for to provide food packs for military, police and medical frontliners deployed to man our highways and checkpoints. TMP will match the donation from racers and viewers to reach out to more frontliners. It’s our simple way of helping and thanking them for keeping us safe on the road during these challenging times.”

For more information, visit www.toyota.com.ph or check out Toyota’s official social media pages at ToyotaMotorPhilippines (Facebook and Instagram), and @ToyotaMotorPH (Twitter). — KMA

How PSEi member stocks performed — July 3, 2020

Here’s a quick glance at how PSEi stocks fared on Friday, July 3, 2020.

Lawmakers critical of Duterte join calls versus anti-terror law

OPPOSITION LAWMAKERS on Sunday joined the dissent against a stronger anti-terror measure that President Rodrigo R. Duterte enacted last week, saying it arms the government to violate human rights and stifle dissent.

“With legal challenges expected to reach it, I call on our Supreme Court to protect our democracy and invalidate this legal abomination before Mr. Duterte, and other tyrants that might follow him,” Senator Leila M. de Lima, a staunch critic of the President, said in a statement.

She said the law could “inflict further oppression and repression upon our people.”

Mr. Duterte signed the bill into law on Friday amid criticisms from militant groups and calls from his allies to review the measure.

A group of lawyers led by Howard M. Calleja asked the Supreme Court at the weekend to void the law that they said was “repugnant and perilous to the constitutional rights of every citizen.”

The Anti-Terrorism Act neither contained compelling state interests nor did it show “that the least intrusive means were undertaken,” according to an excerpt of the lawsuit posted by the lawyers on Facebook.

The group, which asked the tribunal to stop the enforcement of the law, said they sent the petition to the high court by electronic filing and would submit a printed copy on July 6.

Named respondents were Cabinet officials including the heads of the Foreign Affairs, Defense, Interior and Local Government, Finance and Justice departments.

Meanwhile, Albay Rep. Edcel C. Lagman said the law had repressive provisions. “The new Anti-Terrorism law must be cleansed of its constitutional infirmities notwithstanding the say-so of its implementors,” he said in a statement.

“It is incumbent upon the Supreme Court to use the scalpel of judicial review to excise the numerous oppressive and unconstitutional provisions of the new law in its adjudication of relevant petitions,” he added.

The law allows an anti-terror Council made up of Cabinet officials to perform acts that are otherwise reserved for courts, such as ordering the arrest of suspected terrorists. It also allows the state to keep a suspect in jail without an arrest warrant for 14 days from three days now.

It also considers attacks that cause death or serious injury, extensive damage to property and manufacture, possession, acquisition, transport and supply of weapons or explosives as terrorist acts.

“The palace will leave it to the Supreme Court to decide on these petitions and will abide by whatever the ruling is,” Presidential Spokesman Harry L. Roque said in a statement on Sunday.

National Security Adviser Hermogenes Esperon, who was also named a respondent in the lawsuit, said the government would face the legal challenge.

“Our legal team is ready and the President studied that thoroughly,” he told DZBB radio on Sunday.

Mr. Esperon said the rules that will enforce the law would contain safeguards against abuse.

The law will take effect 15 days after it is published. The rules must come out within three months.

The House of Representatives last month adopted the Senate version of the bill that it approved in February.

The measure would have lapsed into law on July 9 had Mr. Duterte failed to sign or veto it. — Charmaine A. Tadalan and Gillian M. Cortez

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