Britney Spears case throws spotlight on complex conservatorships

June 24, 2021 | 12:05 am

BRITNEY SPEARS — FACEBOOK.COM/BRITNEYSPEARS

POP star Britney Spears has been under a court-appointed conservatorship, or guardianship, since 2008. On Wednesday, she is due to make a personal address to the Los Angeles judge who is handling the conservatorship.

Here is how a conservatorship works in California:

What is a conservatorship?

A court-approved arrangement in which a person or organization is chosen to protect and manage the personal care and/or finances of a person whom a judge has found to be unable to manage his or her own affairs.

In what circumstances is a conservatorship approved by the courts?

When someone needs help taking care of his or her daily needs, managing their finances, or gives away large sums of money to strangers. Many are elderly people, or developmentally disabled, or people with temporary or permanent mental or physical disabilities. Details about the personal health of the conservatee is not made public. A court-appointed investigator is required to make a personal visit and submit a status report about the conservatorship every two years.

What are the duties of a conservator?

A conservator can be a relative, friend, or professional entity. Duties include deciding where the conservatee will live, making arrangements for their health care, housekeeping, transportation, managing finances, paying taxes and bills, making investments, protecting assets, accounting to the court for management of finances and reporting to the court on the status of the conservatee. Any changes require court approval.

Who are the conservators in the Britney Spears case?

The singer’s father Jamie is a joint conservator of her personal affairs with care manager Jodi Montgomery. Jamie Spears is also a joint conservator of her financial affairs with financial firm Bessemer Trust. Ms. Spears has an attorney to represent her. In 2020, Ms. Spears began her attempts to remove Jamie Spears as her personal conservator.

How much freedom does a person under a conservatorshp have?

Restrictions are determined by the court depending on individual circumstances. Since 2008, Ms. Spears has performed multiple concerts, been on several tours, recorded several albums, goes shopping, posts frequently to her Instagram account, has a boyfriend, gets an allowance and has gone on vacation.

How can a conservatorship be brought to an end?

The conservatee, or a relative or friend, can ask the judge at any time to end the conservatorship. A court appointed investigator would evaluate the case and hear from all sides. The conservatee must prove they can handle their own personal and financial affairs. The judge would make a decision. Ms. Spears has not made such a request. The court can remove a conservator who is failing to perform their duties and appoint a new one.

Why has the britney spears case attracted so much attention?

It is unusual for someone of Ms. Spears’ age and high profile to have been under such an arrangement for 13 years. Details of her mental health issues have never been revealed. The fan-based #FreeBritney movement, started in 2019, believes Spears is being held against her will and that she is sending cryptic messages through her Instagram postings. The 2021 TV documentary Framing Britney Spears brought wider attention to the case.

What is Britney Spears expected to say on Wednesday?

Neither Ms. Spears nor any of the attorneys in the case have said what the singer plans to speak about. She is not expected to attend the Los Angeles court in person but to speak via audio and/or video link. The last time she spoke to the judge, in May 2019, the hearing was closed to the public and her testimony was sealed. — Reuters

PNB Holdings to redevelop prime properties

June 24, 2021 | 12:05 am

PNB Center along Ayala Ave., Makati City

PNB Holdings Corp. will redevelop its prime real estate assets to maximize their value amid the demand for rental space, it said on Wednesday.

In a statement, the company said it would work on improving the gross leasable area of the PNB Financial Center located in Pasay City, which spans 10 hectares, and the PNB Makati Center in Makati City’s central business district.

“We are excited [about] planning for the redevelopment of our properties in Makati and Pasay as we see a very huge growth potential in these areas,” Karlu Tan Say, president of PNB Holdings and chief executive officer of Eton Properties Philippines, Inc., said.

The company will look to further enhance the developments to serve the market in “the new normal.”

“While we are cautious of the economic environment, we also remain optimistic that the ongoing vaccine rollout and the health and safety protocols in place will prompt the imminent reopening of the local economy,” Ms. Tan Say said.

PNB Holdings said it expects a “significant increase” in profits by the end of the year from its 2020 net income of P200 million. — Keren Concepcion G. Valmonte

You can now have what the BTS boys are having

June 24, 2021 | 12:04 am

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(but hold on to the sauce — it might be worth a mint)

AWARD-winning boyband BTS — we’re talking the American Music Awards, the South Korean Order of Cultural Merit, and the Guiness World Records, among other recognitions — apparently have a hankering for 10 pieces of Chicken McNuggets, medium fries, and a medium Coke. Since last week, Filipino fans have been able to enjoy the same thing the boys (namely Jin, Suga, J-Hope, RM, Jimin, V, and Jungkook) like to order.

The BTS Meal, available from June 18 until supplies last, is pinned on the McDonald’s Famous Orders program. Previous collaborations were with rapper (and Kylie Jenner’s ex) Travis Scott and singer J Balvin. The Famous Orders program was launched last year, with a Superbowl commercial featuring the favorite orders of several celebrities (from the commercial, we found out Kim Kardashian likes six-piece chicken McNuggets, a cheeseburger, a vanilla shake, an apple pie, small fries, and honey dipping sauce).

“No matter who you are, everyone has a favorite McDonald’s order — even some of the biggest celebrities,” said Assistant Vice-President of Marketing and Channels for McDonald’s Philippines Oliver Rabatan during an online press conference the day before the release. “BTS are longtime brand fans, who, no matter where they travel… enjoy McDonald’s.”

The BTS meal was launched in the US last year, and has gone on to be present in over 50 markets. The nuggets-and-fries combo come with a limited-edition spicy cajun sauce and sweet chili sauces, which, according to the brand, are based on “popular recipes” from McDonald’s South Korea.

The BTS meal arrived to the Philippines amid much fanfare: the week before the release, McDonald’s got their restaurant crew together for a BTS TikTok challenge. Earlier this week, McDonald’s BTS-themed photobooths were placed in some stores. On a more philanthropic note, McDonald’s gave a first taste of the much-awaited offering to healthcare workers prior to the June 18 launch. Through McDonald’s Kindness Kitchen, over 2,000 BTS Meals were distributed to select hospitals and vaccination hubs.

BusinessWorld snagged the meal last week and got the familiar snack of nuggets and fries (P270). It all comes down to the sauces, ranking the creamy Cajun sauce, with its spicy-creamy notes, our own favorite (the sweet chili sauce tasted — well, like sweet chili sauce, and nothing much else). We’d petition McDonald’s to keep the Cajun sauce a store staple if we could.

Of course, aside from having what the boys are ordering, the fans are crazy about the BTS-themed packaging. Using the band’s signature color — a light purple — the global giant fast-food brand splashed the McDonald’s nugget box, the paper cup, and the paper bag with the BTS logo and colors. Some fans have already taken to social media to show off what they’ve done with their merch: cellphone cases, journals, and toys. “Now we’re excited to give BTS fans a new way to connect with their favorite band through the McDonald’s food they love,” said Mr. Rabatan.

PS: Hold on to your sauces. In 2018, a sachet of McDonald’s Szechuan Sauce from 1998 (following a push from cartoon Rick & Morty) sold for about $14,700.* The seller had found it in an old car he had bought. Due to the publicity from the cartoon’s mention (and the sauce’s sale), McDonald’s briefly brought the sauce back. Current prices on eBay for the sauces range from $5 to $300. Who knows? In the future, one might be sitting on a gold mine — thanks to the boys.

For now, the boys of BTS are saving fans a bit of money. If one orders the BTS Meal through the McDelivery App from June 25 to 27, only ₱7 will be charged as the delivery fee (terms and conditions apply). — Joseph L. Garcia

*https://time.com/4744570/mcdonalds-szechuan-sauce-ebay/

Cisco Philippines unveils innovations for ‘inclusive’ hybrid work

June 24, 2021 | 12:04 am

CISCO Philippines announced Wednesday the new features added to its communication and collaboration tool Webex, aimed at making the hybrid work and events more “inclusive.”

“At the core of what we do at Cisco is our drive to deliver innovations in technology that can create pathways to economic prosperity for all, continue to connect the unconnected, and bring the ecosystem around our business along with us to a future that is inclusive, where no one is left behind,” Cisco Philippines Managing Director Karrie C. Ilagan said at a virtual briefing.

“We are bringing innovations to our portfolio with that in mind, and with Webex Suite, everyone has a seat at the table, everyone’s voice can be heard, and it’s a platform where discussions are made equitable,” she added.

Cisco said it expects 98% of future meetings to include at least one remote participant. The transition necessitates companies or organizations to invest in more than just a traditional meeting room.

The hybrid work and events setup, Cisco noted, is already at work in the country. The Health department alone has conducted 17,400 sessions via Webex over the past year, amounting to more than 2.3 million minutes of meetings and consultations, the technology company reported.

Among the latest advancements added to Webex include “Increased Value,” which combines meetings, calling, messaging, polling and events in one offering.

Another feature is the “End-to-End Events,” a complete events execution and management platform.

Cisco also added new audience interaction tools such as polling, quizzes, and Q&A.

Webex users will have the new ability of speech optimization “for remote and shared workspaces through My Voice Only to eliminate background noise, including speech from people in the background, and solely focus on the main speaker’s speech,” the company said.

My Voice Only will be available worldwide in August this year. — Arjay L. Balinbin

Wine and ride sales

June 24, 2021 | 12:03 am

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We’ve figured out just how to do greet the first week of July: get a few bottles of wine, then order a feast through Grab. This is all thanks to the Winery.ph Mid-Year Clearance Sale (June 30 to July 3) and the Grab Manyversary Anything and Everything Sale (June 21 to July 4).

WINERY.PH
This year, the online wine marketplace’s sale features 19 Great Deals, ranging from 34% off to 57% off. The discounts slash bottles priced at above P3,000 to a much more affordable P600 (and there are better deals out there, with some wines coming in at P266). The sale will run for four days only, from June 30 to July 3. A release from the brand says that the sale comes at a time when “the economy begins to open up and importers’ warehouses need to clear up space to make way for new shipments.”

Winery.ph’s Mid-year Clearance Sale is showcasing five value-for-money red wines from France (Richebaron Selection Rouge), Portugal (Haribon Red), Spain (Torre Solar Tempranillo Syrah and Ramon Bilbao Crianza Rioja Tempranillo), and Australia (Peter Lehmann Art & Soul Shiraz Grenache). On the more premium end of the spectrum are five quality wines from Spain (Raig de Raim Red, Nuestra Señora Portal, and Sa Natura Organic Red), France (M. Chapoutier Crozes Hermitage Petite Ruche), and from Italy (Piccini Memoro Rosso). The sale also features one high-end Rioja from Spain (Ramon Bilbao Gran Reserva Rioja Tempranillo).

In the White Wine category, the sale features value-for-money wines from Portugal (Guadalupe White) and France (Richebaron Selection Blanc); quality wines from Spain (Raig de Raim White and Nuestra Señora Portal Blanc) and from the King Valley Region of Australia (Chrismont La Zona Pinot Grigio); and one high-end wine from Italy (Livio Felluga Sharis Blanc).

For more information, visit www.winery.ph and follow the brand on Facebook and Instagram.

GRAB
Grab celebrates its ninth anniversary in the Philippines with a two-week Manyversary: The Anything and Everything Sale, running from June 21 to July 4. The sale offers consumers discounts of up to 70% across Grab’s wide range of services.

“Through the Manyversary campaign, Filipinos are able to get more value out of their regular activities,” said the brand in a statement.

From June 21, Grab users will be able to enjoy big savings with these week-long deals. On GrabMart, it offers Unlimited free delivery, up to P300 off, and 20% off bestsellers on GrabMart. Paying through GrabPay during the promo period gives the user the following benefits: 50% off GrabExpress Pabili, with a P9 flat fare, 20% cashback on Bills Payment transactions, and up to P300 off Lazada purchases when using a GrabPay Card. GrabCar offers 10% off the next ride, with no minimum fare; and up to 50% off an order on GrabFood. Finally, GrabExpress will offer 20% off deliveries — all terms and conditions applying, of course.

Check the app regularly for week-long deals, daily flash sales, and prizes available until July 4.

Monde Nissin amends rules to align with corporation code

June 24, 2021 | 12:03 am

MONDE Nissin Corp. on Wednesday said its board of directors had approved the amendments of the company’s by-laws, which are still subject to the approval of the Securities and Exchange Commission.

“The amendments are intended to further align the By-Laws with the Revised Corporation Code and the best practices of corporate governance,” the company disclosed to the exchange.

It now includes an article on the regular meetings of the company’s board, which will be held quarterly.

Meanwhile, the compensation and fees of directors will now be in accordance with Section 29 of the Code instead of a board resolution. It provides that the stockholders representing at least a majority of the company’s outstanding capital stock or the majority of the members should grant and approve the compensation at a regular or special meeting.

“The Board’s Corporate Governance, Nomination and Remuneration Committee shall have the responsibility of recommending such fees and other compensation of Directors,” the amendment states.

Meanwhile, the company’s executive committee must have three to five members chosen by the board of directors. The majority of the executive committee must also be board members.

The amendments also include changing the annual or regular meeting of the stockholders every fourth Tuesday of November. The stock and transfer book is also proposed to be closed at least 28 days for regular meetings and 21 days for special meetings before the scheduled date of the meeting.

Monde Nissin shares at the stock exchange went up by 1.10%, closing at P14.74 each. — Keren Concepcion G. Valmonte

Demand for finance apps climbs

June 24, 2021 | 12:03 am

MORE Filipinos installed finance apps, specifically digital banking platforms, in the first three months of 2021, following firms’ heightened marketing to gain more users, a study showed.

Non-organic installs (NOI) of finance apps increased by 20.2% in the country during the first quarter, higher than the 9.6% growth in the same period of 2020, based on a study conducted by California-based mobile marketing analytics AppsFlyer released on Tuesday. NOI refers to app downloads attributed to engagement with advertisements of a platform versus direct or organic installs.

AppFlyer said this higher NOI growth rate was on the back of firms’ 106% increase in spending for marketing to attract users. This was the second fastest growth in the region next to Indonesia (180%) and was followed by Thailand (92%) and Vietnam (48%).

For the Philippines, more than two thirds (69%) of finance app installations were digital banking platforms. This was followed by downloads of apps related to loans (22%), investments (6.3%), traditional banking (1.5%) and other financial services (0.8%).

However, downloads of loan apps declined as the number of lending apps dropped by 20% in the first quarter from a year earlier.

“The fintech sector has radically adapted to the changing environment and accelerated digital transformation, especially in developing markets where many are unbanked or underbanked,” Ronen Mense, managing director and president, Asia-Pacific, AppsFlyer, was quoted as saying.

“As more users shifted to their mobile devices, financial institutions followed suit, enabling consumers to function through their devices,” he added.

Meanwhile, the study also showed that Southeast Asia’s app fraud rates remained high, even as this declined by 20% from a year ago.

Fraud associated with digital bank apps increased by 16% in Southeast Asia, a point of concern for the Philippines where downloads of such platforms have climbed, AppsFlyer said.

On the other hand, fraud in loan apps fell by 33% in the first quarter.

The Bangko Sentral ng Pilipinas last year released a framework which sets apart digital banks from traditional lenders. Digital banks provide their services, including deposits and loans, through online platforms, versus offering them in branches like traditional lenders do. — L.W.T. Noble

Hotel News (06/24/21)

June 24, 2021 | 12:02 am

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Father’s Day may be over but the celebration continues at The Pen

FATHER’S Day may have wrapped up a few days ago, but it doesn’t mean the celebrations can’t continue. The Peninsula Manila continues to spoil dad throughout June with a relaxing staycation package. The DND (Do Not Disturb): Dad’s Resting package is a relaxing overnight stay that includes five-star accommodations in a guest room or suite with amenities guaranteed to rejuvenate and restore. His day starts with a set breakfast for two at The Lobby (and two Father’s Day gin & tonics later in the day) setting the tone. Afterwards, he can go for laps at the outdoor pool and have a supervised workout at the Peninsula Fitness Center, capped off with a complimentary Lobby dinner when accompanied by a paying companion. The staycation includes a gift of time — Peninsula Time, that is, a unique check-in/check-out experience that makes a day at The Pen last longer than 24 hours. With Peninsula Time, by prior arrangement, the guest may check in and out at any hour of the day or night for no additional fee. When he books a room or suite, it is his for one night — even if he checks in at 8 a.m. on Day 1 and check out at 10 p.m. on Day 2. The package rates start at P8,500 for a Deluxe Room, inclusive of taxes. For details on the room package, call 8887-2888 (trunk line), extension 6630 (Room Reservations), e-mail reservationpmn@peninsula.com, visit peninsula.com, or contact the hotel through PenChat, a 24-hour e-concierge (https://bit.ly/PenChatFacebook).

Park Inn by Radisson Clark opens new South Wing

PARK Inn by Radisson Clark has opened its all-new South Wing, adding more accommodation options for domestic and international guests in an up-and-coming destination. This multiple-use hotel has increased its inventory by 65% with the addition of 100 new rooms and suites, in line with a projected rise in passenger traffic at Clark International Airport, which is located just 10 minutes’ drive away. Housed within the newly constructed South Wing are 95 Superior Rooms, all of which feature comfortable bedding, working desks, mini-bars, sensor-activated air-conditioning, in-room technology such as IPTVs, bedside USB ports and complimentary Wi-Fi, and modern bathrooms with standalone rain showers. Five additional Suites will also offer Nespresso machines and separate living areas. All business guests will be able to use the hotel’s outdoor pool, fitness center, HUES all-day restaurant, lobby lounge and “grab & go” snack zone. Three meeting rooms are available for corporate guests, and those looking forward to retail therapy have access to the SM City Clark shopping mall, which is located next door. The existing 154-key North Wing will continue to accommodate Overseas Filipino Workers (OFWs) and Returning Overseas Filipinos (ROFs). The hotel has been SGS certified and adheres strictly to the Radisson Hotels Safety Protocol, and quarantining guests will not be able to access the hotel’s public areas and facilities. This multiple-use flexibility will provide greater options for guests, support the nationwide COVID-19 strategy, and drive additional benefits to its owners.

AbaCore Capital sees future growth in Batangas

June 24, 2021 | 12:02 am

ABACORE Capital Holdings, Inc. through its wholly owned subsidiary Philippine Regional Investment Development Corp. (PRIDE) is expecting further growth as its businesses move its operations to Batangas.

“AbaCore, PRIDE, and all its affiliates are in the best position to strategically take advantage of the opportunities presented with the development and growth of the Province of Batangas as the next Metro hub in the CALABARZON area,” AbaCore said in a statement on Wednesday.

PRIDE’s wholly owned units, Adroit Realty Corp. and San Isidro Catholic Memorial Park Development Corp. are said to be completing sales worth at least P958-million gross in the first six months of 2021.

AbaCore said the properties form part of its energy hub project in Simlong, Batangas.

Adroit and San Isidro are “transacting” their seafront properties along Batangas Bay.

“Upon consummation, PRIDE and affiliates expect Adroit and San Isidro to generate P728 million of net profit to PRIDE and affiliates’ bottom line, in addition to booked income of P100 million in the sale of marketable securities,” the company said.

PRIDE also expects to earn from its partnership with SquidPay Technology, Inc. to convert and run its PhilStar Development Bank to a digital bank, which will be based in Batangas.

AbaCore pointed to the government’s Build, Build, Build program, saying that it spurred growth in the industrial and tourism industries in the province.

“This has led to locators investing in Batangas real properties in anticipation of capital gain considering the relative value properties in Batangas have over its Metro Manila counterparts,” the company said.

On Wednesday, shares of AbaCore at the local bourse closed unchanged at P1.13 each. — Keren Concepcion G. Valmonte

Zuellig Pharma says SAP increased its order processing

June 24, 2021 | 12:02 am

HEALTHCARE services provider Zuellig Pharma said Monday its digital transformation through software company SAP SE has resulted in an increase of approximately 100,000 sales orders processed daily.

Daniel Laverick, head of SAP & IT Solutions Zuellig Pharma, said in a statement: “Even before the pandemic, we saw the importance of driving efficiencies so that we could grow, operate and support larger scale and more complex healthcare supply chains.”

“With this in mind, we embarked on a digital transformation journey with SAP and were able to quickly activate our technologies to address the spike in customer orders from countries like Thailand when the pandemic hit,” he added.

“This agility and speed of our sales order processing accounted for an increase of approximately 100,000 sales orders processed daily.”

With SAP, Zuellig Pharma has deployed over 60 automations across various markets, the official noted.

Zuellig Pharma is the company behind eZVax, a vaccine management solution for vaccine distribution and administration.

The system features its proprietary eZTracker solution, which is also built on SAP blockchain technology, “to address the issue of counterfeit medical products in the healthcare supply chain.”

SAP said “77% of the world’s transaction revenue” touches its system.

“Our machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customers’ businesses into intelligent enterprises,” it added. — Arjay L. Balinbin

Term deposit yields inch lower

June 24, 2021 | 12:02 am

YIELDS ON term deposits slipped on Wednesday ahead of the central bank’s policy review, where it is widely expected to keep rates steady to support economic recovery.

Demand for the term deposit facility of the Bangko Sentral ng Pilipinas (BSP) hit P645.342 billion on Wednesday, higher than the P520 billion auctioned off but failing to beat the P655.826 billion in tenders logged last week.

Broken down, tenders for the seven-day papers reached P220.938 billion, going beyond the P140-billion offering and also higher than the P212.281 billion seen in the previous auction.

Accepted rates for the tenor ranged from 1.7% to 1.75%, a narrower range compared with the 1.7% to 1.7999% band seen a week ago. This caused the average rate for the one-week deposits to drop by 0.88 basis point (bp) to 1.7376% from the 1.7464% quoted on June 16.

Meanwhile, the 14-day papers attracted bids worth P424.404 billion, surpassing the P380 billion on the auction block but lower than the P443.545 billion in tenders last week.

Banks asked for yields ranging from 1.75% to 1.8499%, a slimmer band versus the 1.7125% to 1.85% logged in last week’s auction. As a result, the average rate of the two-week papers slipped by 0.33 bp to 1.8085% from 1.8118% previously.

For the 35^th straight week, the BSP did not offer 28-day term deposits to give way to its weekly offerings of bills with the same tenor.

The BSP uses the term deposits and the short-term bills to mop up excess liquidity in the financial system and to better guide market rates.

Rates for the term deposits were lower on Wednesday as the market was looking ahead to the BSP’s policy review on Thursday, where it is widely expected to keep borrowing costs at record lows, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a text message.

The BSP will likely keep benchmark interest rates steady on Thursday to support the “fragile” economic recovery, with inflation improving on the back of government initiatives to ease supply issues, analysts said.

A BusinessWorld poll held last week showed 14 out of 16 analysts expect the central bank to retain its key policy rate at its record low of 2% at the Monetary Board’s fourth policy meeting for this year on June 24.

Analysts said it is crucial for the BSP to retain its accommodative stance in the meantime as the economy’s rebound from the impact of the coronavirus pandemic still has a long way to go.

The BSP slashed benchmark rates by a cumulative 200 bps last year. Borrowing costs have been at record lows since the Monetary Board’s last adjustment, which was a 25-bp cut in November.

BSP Governor Benjamin E. Diokno last week said their policy stance will be accommodative “for as long as necessary, until the economic recovery gets underway.”

Mr. Diokno likewise said the central bank has room to counteract any negative impact of the US Federal Reserve’s impending monetary policy tightening to ensure financial stability. — L.W.T. Noble

PHL places 103^rd in 2021 Sustainable Dev’t Ranking, continues to face challenges in achieving these goals by 2030

June 24, 2021 | 12:01 am