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Aboitiz group allots P48-B capex

MAJORITY of the budget or P23 billion is earmarked for power business unit Aboitiz Power Corp. — BW FILE PHOTO

ABOITIZ Equity Ventures, Inc. (AEV) has earmarked P48 billion for its 2021 capital expenditure (capex), higher by 69% compared with the level in the previous year, with the bulk going to its power projects, it said on Tuesday.

“Over the next 10 years, we commit to investing in capacities to advance business and communities in the nine Asia-Pacific countries where we operate,” said AEV President and Chief Executive Officer Sabin M. Aboitiz in a press release.

In 2020, the company spent P29 billion amid what it called “unprecedented challenges” because of the coronavirus disease 2019 (COVID-19).

“We continue to invest in our country to support economic recovery and growth, as millions of Filipinos are relying on us — families and communities. Our team members take this responsibility to heart. We simply cannot fail,” Mr. Aboitiz said.

In the press release, AEV said majority of the budget or P23 billion was earmarked for its power business unit Aboitiz Power Corp. to complete the 1,336 megawatt (MW) coal-fired power plant in Mariveles, Bataan under GNPower Dinginin Ltd. Co.

“AboitizPower is likewise adding to its portfolio battery energy storage system projects that will help ensure grid stability through sufficient ancillary services,” the holding firm added.

AboitizPower recently said that it was in the process of adding its first battery energy storage project to its portfolio, as it would install the 49-MW facility of its unit Therma Marine, Inc. in Maco, Davao de Oro.

Meanwhile, P25 billion of this year’s budget will go to AEV’s other business units.

Broken down, P13 billion will go to Aboitiz InfraCapital, Inc. for various projects, including bulk water supply under its unit Apo Agua Infrastructura, Inc. with Davao City Water District and other water projects. The allocation also covers the construction of common towers for telecommunications.

Around P2 billion will be earmarked for Republic Cement and Building Materials, Inc.; and P4 billion will go to AEV’s food group, which will be mainly used for feedmill expansion.

Aboitiz Land, Inc. will have a budget of P3.1 billion for its land-banking activities and residential projects; while UnionBank of the Philippines will corner more than P2 billion for its digital and branch transformation efforts.

AEV is the Aboitiz group’s holding firm with investments in power, banking and financial services, among others.

Separately, AboitizPower told the stock exchange that the Philippine Dealing and Exchange Corp. (PDEx) had approved the listing of its P8-billion bonds, including oversubscription.

“The PDEx approval paves the way for the secondary market trading of the Series ‘A’ Bonds, with a fixed interest rate of 3.8224% per annum. The bonds will mature in 2026,” AboitizPower said.

Earlier this month, AboitizPower said that it had started selling five-year fixed rate bonds worth P8 billion to retail investors after the firm received a permit to offer the securities for sale from the Securities and Exchange Commission.

The company opened the public offer on March 2 and said that the selling would end on March 8. The bonds are to be issued on March 16. They will mature five years from the issue date.

AboitizPower holds the Aboitiz group’s investments in power generation, distribution and retail electricity services. The firm owns distribution utilities in the country’s three major islands.

Shares in AboitizPower at the local bourse slipped 2.14% or 55 centavos to close at P25.10 each. AEV shares shed 5.82% or P2.2 to finish at P35.60 apiece. — Angelica Y. Yang

Japan’s teamLab melds museum and sauna in fresh digital art experience

TOKYO —  A wall of flower petals bursts into a thousand fragments. A huge ball levitates in the air, turning from red to blue to purple. Hundreds of butterflies dart around a screen of tiny water particles.

This is not a modern art museum, but the latest creation of Japan’s teamLab collective of engineers, artists, and architects, anchored around a maze of seven saunas lit up in hues of red, green, and yellow.

The Tokyo-based digital art group took over an empty lot in the city’s glitzy Roppongi district and over the last year erected a gigantic tent housing the sauna rooms and three immersive art installations.

“Art is traditionally exhibited in luxurious places like palaces or museums —  we wanted to create a luxurious state of mind for people to experience it,” said Takashi Kudo, a teamLab lab member at a demonstration on Saturday.

“TikTok teamLab Reconnect” runs from Mar. 22 until the end of August. For $44 on weekdays and $53 on weekends, visitors can dip in and out of the hot rooms and cold showers, and walk inside the artworks sporting only swimming suits. The coronavirus means seating in the biggest saunas was cut from 24 to 12 and ventilation was adjusted to meet government standards for air circulation.

Mr. Kudo stood under dozens of large, hand-blown glass lamps from Italy. The lamps slowly changed colors from burnt orange to magenta, illuminating dark corridors separating the rooms. The team said it wanted to affect all senses, including touch, sound and smell. Aromas such as roasted green tea waft through one of the saunas, and white birch in another.

“Nobody goes to an art museum in this fashion because art is art and sauna is sauna,” said Mr. Kudo pointing to his swimming trunks. “What we wanted to try is to combine and offer a very different experience —  and a very different experience of this art.” —  Reuters

D&L Industries plans to issue up to P5-B fixed-rate bonds

MANUFACTURING firm D&L Industries, Inc. said its board of directors had approved a plan to offer peso-denominated fixed-rate bonds worth up to P5 billion to fund the company’s expansion plans in Batangas.

In disclosure to the exchange on Tuesday, the company said the board approval set the offering’s principal amount at P3 billion, with an oversubscription option of up to P2 billion. The bonds will have a tenure of three to five years.

“With interest rates still remaining low, we believe it’s an opportune time to tap the debt market. Our maiden bond offering will be a useful financial exercise for the company and will allow flexibility for future opportunities we can potentially take advantage of,” D&L President and Chief Executive Officer Alvin D. Lao said in a statement.

The offer is subject to the requirements of the Securities and Exchange Commission, the Philippine Dealing and Exchange Corp., and other regulators.

D&L said it would release further details on the offer once it has been finalized.

The company’s Batangas plant has a total estimated capital expenditure of P8 billion. Construction began in late 2018, with some P4 billion remaining to be deployed for the project. It is expected to be completed by the end of the year.

The plant will be used for the company’s food export business and its oleochemicals segment. It will also allow the company to manufacture downstream packaging.

“For instance, while the company primarily sells raw materials to customers in bulk, the new plants will allow it to ‘pack at source.’ This means that D&L will have the ability to process the raw materials and package them closer to finished consumer-facing products,” D&L said.

“This will enable D&L to move a step closer to its customers by providing customized solutions and simplifying their supply chain, which is of high importance given global logistical challenges and concerns,” the company added.

The plant is anticipated to boost the company’s growth, as D&L aims to expand in international markets and as the company plans to develop more coconut-based products.

“We believe that the future growth prospects of the business remain strong, and we look forward to our new plant coming online by the end of the year,” Mr. Lao said.

“The resiliency that the company showed last year highlights the relevant nature of our businesses’ catering to basic industries, and our operational adeptness as even in the worst of times, even at the peak of the lockdown, we never saw our net income turn negative,” he added.

In 2020, the company earned P515 million in the first quarter, P287 million in the second quarter, P573 million in the third quarter, and P637 million in the last quarter.

In the fourth quarter, the company’s income grew by 8% compared with the P590 million generated in the same period in 2019. The company said it “signifies the inflection point in earnings growth.”

D&L’s net income for the year amounted to P2.01 billion, 23% down from P2.62 billion in 2019.

“We believe that the worst is over and we are in a very good position to further recover as the economy continues to reopen,” Mr. Lao said.

On Tuesday, D&L shares at the exchange rose by 2.11% to close at P7.25 apiece from P7.10. — Keren Concepcion G. Valmonte

Ayala Corp. to redeem P10-B fixed-rate multiple put bonds

AYALA CORP. plans to fully redeem its P10-billion, 6.80% fixed-rate multiple put bonds due 2021 on the bonds’ maturity date, May 12.

“The bonds shall be redeemed by payment in cash of the redemption price set at 100% of the issue price plus all accrued and unpaid interest based on the coupon rate of 6.80% per annum,” the company said in a disclosure to the exchange on Tuesday.

Of the P10-billion fixed-rate multiple put bonds, Ayala has an outstanding balance of about P9.9 billion, with a net of P96.6 million redeemed by bondholders in 2019 by exercising a put option.

“Amounts due to such redemption will be paid by the issuer [through] the Philippine Depository & Trust Corp. as paying agent, in the customary manner for payments by the issuer on the bonds prior to the maturity date,” the company said in its notice of bond redemption.

Payments to bondholders will be made on its record date, May 7. No secondary trading of the bonds or modifications in the accounts will be made starting on the record date.

The bonds’ listing on the Philippine Dealing & Exchange Corp. will be terminated once it has been redeemed on its maturity date.

AREIT CAPITAL HIKE
Meanwhile, the board of directors of Ayala Land, Inc.’s real estate investment trust AREIT, Inc. has approved to increase AREIT’s authorized capital stock to P29.5 billion from P11.74 billion.

In a disclosure to the exchange, AREIT’s board of directors also approved a property-for-share swap transaction plan worth P32 per share. This involves the subscription of Ayala Land to 483.25 million primary common shares of AREIT in exchange for key Ayala Land commercial properties worth a total of P15.46 billion.

The swap transaction will increase AREIT’s leasing portfolio to 549,000 square meters (sq.m.) from 344,000 sq.m., bumping up its deposited property value to P52 billion from P37 billion.

Both plans are still subject to the approval of AREIT shareholders and of regulatory bodies.

“The transaction, including the information on the involved assets, will be indicated in the definitive information statement which shall be made available by AREIT to its shareholders by March 31,” AREIT said.

Disclosure forms will be submitted to the Philippine Stock Exchange once approval from shareholders is secured and once the Deed of Exchange has been executed.

Ayala shares at the exchange improved by 3.27% or P24 on Tuesday to close at P757 apiece. Meanwhile, AREIT shares increased by 2.36% at the market to finish at P32.50 from P31.75. — Keren Concepcion G. Valmonte

Broadway stars vow ‘We Will Be Back’ in pop-up performance in New York City

NEW YORK —  Theater performers reunited in New York City’s Times Square on Friday for a live pop-up show, vowing to return to the stage a year after Broadway drew its curtains due to the pandemic.

The special event featured appearances by singers, dancers and actors including Broadway stars Matthew Broderick, Chita Rivera and Tamara Tunie, who were happy to see friends and perform before an audience again.

A collection of actors performed classic theater hits and an original song, “We Will Be Back,” with costumes from Broadway shows Ain’t Too Proud, Moulin Rouge! The Musical, Six, Phantom of the Opera, and Wicked also on display.

For Tony award winner Nikki M. James it was a joyous reunion. “It’s amazing to see all my friends, to see that we’re thriving and to know that we’re feeling really hopeful about our ability to bring theater back to New York really, really soon, safely.”

Last March the pedestrian numbers in Times Square fell from 365,000 people per day to 35,000 almost overnight, said acting president and chief operating officer of the Times Square Alliance, Tom Harris. Now, he said, the numbers are back up to 100,000 over the last few days.

“Broadway closing down was a tangible symbol of the beginning of this pandemic and how serious it was,” Mr. Harris said. “The return of Broadway will also mark the end of the pandemic, and all that we have learned from the pandemic.”

While it is estimated that theaters will not reopen until September, organizers said the day provided an opportunity to safely and ceremoniously come together on Broadway. The live and in-person special performance represented arts and culture workers, unions, and individuals who comprise the Broadway community.

Mr. Broderick, who was in rehearsals for a new production when the shutdown happened, said he felt like “Rip Van Winkle… waking up from a year of sleep. It’s a very, very strange feeling.”

“I’m sure, for everybody, for audiences too, it’s going to take a while to get back.” —  Reuters

BAP elects PNB’s Veloso as head

PHILIPPINE NATIONAL Bank President and Chief Executive Officer (CEO) Jose Arnulfo “Wick” A. Veloso has been elected as the new president of the Bankers Association of the Philippines (BAP).

Mr. Veloso will succeed Bank of the Philippine Islands President and CEO Cezar P. Consing as the head of the industry group.

“I look forward to collaborating with the government to support their efforts and look for ways to speed up the recovery of the economy. We will work with the government, its lawmakers and our regulators especially in building, enhancing or amending banking laws and regulations to help promote economic activity safely,” Mr. Veloso was quoted as saying in a BAP statement released on Monday.

During the annual general membership meeting on Monday, BAP members also elected Land Bank of the Philippines (LANDBANK) President and CEO Cecilia C. Borromeo as first vice-president and ING Bank- N.V. Manila Country Manager and Head of Clients Hans B. Sicat as second vice-president.

Meanwhile, UnionBank of the Philippines, Inc. Chief Executive Edwin R. Bautista and Security Bank Corp. President and CEO Sanjiv Vohra will serve as BAP’s treasurer and secretary, respectively.

The industry group also welcomed new members to its board of directors including representatives from the Bank of China; Bank of Commerce; BDO Unibank, Inc.; China Banking Corp.; Development Bank of the Philippines; The Hongkong and Shanghai Banking Corp.; ING Bank; JPMorgan Chase Bank; LANDBANK; Metropolitan Bank & Trust Co.; Mizuho Bank Manila Branch; PNB; Standard Chartered Bank; Security Bank; and UnionBank.

Amid the pandemic, BAP worked alongside legislators in crafting support measures such as Republic Act (RA) No. 11469 or Bayanihan to Heal As One Act;, RA No. 11494 or the Bayanihan to Recover as One Act; and RA No. 11523 or the Financial Institutions Strategic Transfer Act.

“2020 is a year navigating through uncharted territories. It is during these times that we have further demonstrated BAP’s unparalleled support to the banking industry and its members,” BAP Managing Director Benjamin Castillo said.

Mr. Consing, BAP’s outgoing president and chairman, said they have also given inputs for other key legislations for the financial system such as the amendments to RA 10000 or the Agri-Agra Credit Act of 2009; changes to the Philippine Deposit Insurance Corp.’s charter; the proposed Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery of GUIDE Act; and the bank secrecy bills that are still pending in Congress.

BAP is an industry group for the country’s universal and commercial banks. Its members include 45 lenders, of which 21 are local banks while 24 are foreign bank branches.

The cumulative net income of universal and commercial banks slumped 32.7% to P142.56 billion in 2020 from the P211.57 billion booked in 2019 as they beefed up their loan loss provisions amid the crisis. — L.W.T. Noble

Addressing the challenges of screening colorectal cancer

THE coronavirus disease 2019 (COVID-19) pandemic has been an unprecedented global health crisis that has severely challenged the provision of routine healthcare, including screening for colorectal cancer (CRC).

These screening programs throughout the world ceased operating primarily due to fear of transmission of SARS-CoV-2, the virus that causes COVID-19, and from decreasing healthcare resources. There is a real risk of spreading and being infected during an endoscopy examination, due to the potential aerosol-producing nature of these procedures. The professional societies initially recommended only emergent endoscopic procedures for symptomatic patients. Screening and surveillance procedures have not been performed regularly during the pandemic period.

The interruption of CRC screening and surveillance in many countries during the pandemic has resulted in a delayed diagnosis of CRC, possibly in a more advanced stage. Published articles have shown that delaying colonoscopy by more than nine months after a positive Fecal Immunochemical Test (FIT) can lead to an increased risk of CRC.

There is an apparent lack of awareness of the preventability of this disease among our patients. Not all primary health providers are updated on the current screening guidelines for this cancer. There is no national population-based CRC screening program in the country, but it is not surprising as only a few Asian countries have one, like Japan, Hongkong, Taiwan, and Singapore. The Department of Health has recently announced its plans on prevention and early detection initiatives of colorectal cancer in the next few years in line with the implementation of the National Integrated Cancer Control Act (NICCA), signed into law in 2019.

March is Colorectal Cancer Awareness Month. The massive worldwide campaign for colorectal cancer screening has its beginnings in the United States in 2000. In the Philippines, The Medical City and its doctors have been among the leading advocates for this cause since 2010.

The big financial burden of CRC screening on the patient presents another very significant barrier to this campaign. The most commonly used method of CRC screening in the Philippines, the colonoscopy, can cost between P15,000 to P30,000 depending on the hospital. Many may not know that FIT is a less expensive screening test, which only costs less than P500. What makes things worse is that several local health maintenance organizations (HMOs) refuse to pay for CRC screening strategies. I sympathize with my patients who were encouraged to undergo screening for their health, but had to pay out of pocket since the test was disapproved by their health card.

RISK FACTORS FOR COLORECTAL CANCER
Despite these challenges, we need to continue educating our primary healthcare providers, our patients, and the general public on the importance of CRC screening.

Almost all of these CRCs start as abnormal growths in the lining of the colon and rectum called polyps. These polyps grow slowly and it may take around 10 years for some polyps to develop into cancer. However, not all polyps progress to cancer. The removal of these polyps reduces the risk of developing cancer.

An important fact is that these polyps and early cancer may not cause complaints. Signs and symptoms, like rectal bleeding, constipation, anemia, weight loss, and abdominal pain may be experienced by patients only in later stages of cancer.

The most common individual-specific factors that increase risk for cancer in the colon and rectum are: 1) age greater than 50; 2) personal history of colorectal cancer or advanced polyps; 3) family history of cancer in the colon and rectum; 4) certain diseases, like Inflammatory Bowel Disease.

Being over 50 is the most common risk factor for this cancer, as 90% of new cases of CRC occur after the age of 50. A family history of a first-degree relative with CRC increases risk by two- to three-fold.

There are also lifestyle habits that can be modified that likely contribute to the formation of this cancer: 1) cigarette smoking; 2) alcohol consumption; 3) obesity; 4) lack of exercise; 5) a diet that has high saturated fat, low fiber, and high red meat consumption.

Living a healthy lifestyle by avoiding smoking, not consuming excessive alcohol, regular exercise, and eating the right food all can lower your risk of cancer in the colon and rectum.

COLORECTAL CANCER SCREENING
In several countries, CRC screening is recommended for average-risk people starting the age of 50. Screening at an earlier age, usually at 40, is advocated in first-degree relatives of patients with CRC, and in those with other additional risk factors. The death of Black Panther star Chadwick Boseman last year, at the age of 43, turned the spotlight on CRC.

The gold standard for CRC screening is a colonoscopy as it can detect and remove pre-cancerous polyps. The procedure involves a flexible fiber-optic scope with a camera that is inserted through the rectum and is carefully advanced to visualize the colon under mild anesthesia.

Some patients may not want to have an invasive test. A stool test called FIT is a good screening alternative. It detects only human blood and is specific for bleeding in the colon. The test is repeated every year if the initial test is negative. If the test is positive, a colonoscopy is needed to rule out the presence of cancer. In pandemic times, the FIT test may be used to stratify patients as to who need the colonoscopy more urgently than others, given the more limited health resources of our country during these times.

When the Department of Health plans a population-based screening program in the Philippines, this can result in diagnosing cancers in the earlier stages when these can be effectively treated and lead to an eventual decrease in mortality. We can hope that once this COVID-19 pandemic is over, screening measures to prevent colorectal cancer can be finally realized as envisioned by NICCA.

 

Dr. Jun R. Ruiz is a Philippine and American board-certified gastroenterologist and the lead advocate for colorectal cancer screening of the Augusto P. Sarmiento Cancer Institute of The Medical City. He finished his Gastroenterology Fellowship at the George Washington University Medical Center in DC. He was part of the staff of the Gastroenterology Department in Kaiser Santa Clara in their successful colorectal cancer screening program of the Kaiser Permanente in Northern California from 2005 to 2013.

Shakespeare company to resume shows for audiences in outdoor theater

LONDON — Britain’s Royal Shakespeare Company (RSC) will resume performances for live audiences in a specially constructed outdoor theater in the summer, beginning with a production of The Comedy of Errors, it said on Friday.

The RSC, based in playwright William Shakespeare’s birthplace of Stratford-upon-Avon, plans to stage shows in the Garden Theater, located in the gardens outside its Swan Theater, which overlooks the river Avon.

The Comedy of Errors was originally scheduled to begin performances last April, but the company, like theaters across the country, had to bring down the curtain due to the coronavirus disease 2019 (COVID-19) pandemic.

Director Phillip Breen will now re-work the production for the new open-air venue.

“These have and will continue to be challenging times, but we look forward with optimism,” RSC artistic director Gregory Doran said in a statement. “The outdoor theater gives us the security that we can perform to good sized audiences as we emerge from the pandemic.”

Another RSC production, The Winter’s Tale, originally set to open in Mar. 2020, will now be broadcast as a filmed version around Shakespeare’s birthday in April, the RSC said.

Various theaters, including in London’s West End, have begun announcing their summer reopening plans with cautious social distancing measures, after Prime Minister Boris Johnson last month shared his roadmap out of lockdown for England.

It aims for entertainment venues to be able to re-open their doors from May 17.

Composer Andrew Lloyd Webber, the man behind musicals such as The Phantom of the Opera and Evita, has said rehearsals for his latest production Cinderella had begun in early March, aiming for a summer opening. He said his musical Joseph will also start showing at the London Palladium in July. — Reuters

Fruitas rolls out new product lines and community stores

“THE PANDEMIC has required us to adapt to the demands of our customers,” says Fruitas President Lester C. Yu. — FRUITASHOLDINGS.COM/

LISTED food and beverage company Fruitas Holdings, Inc. will be rolling out new product lines and new community stores in several cities in the coming weeks.

“The pandemic has required us to adapt to the demands of our customers,” Fruitas President and Chief Executive Officer Lester C. Yu said in a statement on Tuesday.

The company will be launching its Fruitas Pure 100% Cold Pressed Juices line, which is made from fresh fruits and vegetables. It will be available in five flavors, namely: The Cleanser, Rainforest, Beauty Boost, The Energizer, and the Immunity Booster.

Fruitas will also introduce the first standalone Fruitas Creamery, which will sell the company’s dairy-based ice cream and soy-based ice cream from its Soy & Bean brand.

Several more Soy & Bean community stores will open in Las Piñas and Marikina in the coming weeks. The brand will also open its first franchised store in Rizal.

The company said it is using its network of community stores to expand its delivery service, CocoDelivery.

“We will continue to expand and enhance CocoDelivery. Our community stores, which [were] conceptualized during these challenging times, now contribute approximately 10% of our revenues and we expect this to further increase moving forward,” Mr. Yu said.

The company cited how its Soy & Bean community store in McArthur Highway, Angeles City, Pampanga is serving customers in the city and nearby towns.

“We will also be offering a wider selection of products to our customers and get closer to them. As near-term risks from the pandemic remain, we will also further amplify the health benefits of our key products,” Mr. Yu said.

Fruitas shares at the stock exchange inched down by 0.70% to close at P1.41 apiece from P1.42. — Keren Concepcion G. Valmonte

Banks urged to boost guards vs cyber threats

BANKS MUST NOT let their guards down despite beefing up their cybersecurity measures as attacks get increasingly sophisticated, internet security firm Kaspersky said.

“They’ve (Philippine banks) tried to build up security operations but this is never enough  because they (attackers) are always trying to catch up,” Kaspersky Southeast Asia General Manager Yeo Siang Tiong said in an online briefing on Tuesday.

“Every bank in this industry and every bank around the world can be a target even if they invested a lot of money [in cybersecurity]. They can be breached and become a victim to sophisticated threats,” said Seongsu Park, security researcher at Kaspersky.

The Bangko Sentral ng Pilipinas (BSP) said it received some 20,000 customer complaints last year. BSP Governor Benjamin E. Diokno said most cases were about unauthorized or fraudulent transactions by scammers.

Emerging trends in cybersecurity attacks go beyond Windows software and utilize mobile implants, supply chains, and exploit internet facing network devices, Mr. Park said.

“It is important that they (banks) seek help and not just try to do it by themselves. They need to have a basic level of defense which is intelligence driven and not just the first generation software most of them have,” Mr. Yeo said.

He added that it is also important for financial institutions to update their consumers on how culprits are changing their attack schemes.

Mr. Park said the global cyber threat landscape in 2020 mostly targeted governments, banks and financial institutions. He also noted that COVID-19 has been used by hackers for scams and social engineering schemes.

With the BSP looking to finalize an open finance framework that will allow customer-permissioned sharing of data among financial institutions, Mr. Yeo said regulators will play a vital role in ensuring cybersecurity while achieving the good intentions of the framework.

“Usually the regulatory agency will play a central role in defining the exchange of the data. This is important to make sure that APIs (application programming interface) and data are not open to breaches,” Mr. Yeo said. — LWTN

Crypto investor Metakovan named as buyer of $70-M digital artwork

LONDON    The buyer of a $70-million digital-only artwork was named on Friday by auction house Christie’s as a crypto asset investor who goes by the pseudonym “Metakovan.”

The auction to buy the work by digital artist Beeple, which ended on Thursday, was the first ever sale by a major auction house of a piece of digital art that does not exist in physical form. The work is in the form of a new kind of digital asset: a Non-Fungible Token (NFT). This means that it is authenticated by blockchain, which certifies its originality and ownership.

Metakovan, whose real name was not disclosed, is the founder of Metapurse, the world’s largest NFT fund, Christie’s said in a statement.

The work, called Everydays: The First 5000 Days, is a collage of 5,000 individual images, which were made one-per-day over more than 13 years.

It sold for $69,346,250, which Metakovan paid in the form of cryptocurrency Ether.

The sale put Beeple into the top three most valuable living artists, Christie’s said, trailing only David Hockney and Jeff Koons.

“When you think of high-valued NFTs, this one is going to be pretty hard to beat. And here’s why —  it represents 13 years of everyday work,” Metakovan said in a statement released by  Christie’s. “Techniques are replicable and skill is surpassable, but the only thing you can’t hack digitally is time. This is the crown jewel, the most valuable piece of art for this generation. It is worth $1 billion.” — Reuters

Executive checkup for women

TILL MAY 31, St. Luke’s Medical Center (SLMC) is offering a women’s health package at P11,920. The executive checkup, available at the Health and Wellness Center of SLMC Bonifacio Global City (Taguig City), includes the following: pap smear, gyne ultrasound, breast ultrasound, complete blood count, chest X-ray, urinalysis, fecalysis, nutritional counseling, and a complimentary outpatient COVID-19 RT-PCR test.  For more information, contact St. Luke’s at 8-789-7700 ext. 5104 (SLMC-Global City) or 09985822276; 8-723-0101 ext. 5564 or 4815 (SLMC-Quezon City) or e-mail productinfo@stlukes.com.ph.