Villar-led memorial park firm starts 6^th project in Mindanao

June 22, 2021 | 12:05 am

DAVAO CITY — Listed firm Golden MV Holdings, Inc., the Villar group’s memorial park developer, has started working on its 6^th project in Mindanao located in Tagum City, Davao del Norte.

Anna Mae D. Escalante, south Mindanao cluster head of the Golden Haven brand, said the upcoming park will be a seven-hectare complex along the new bypass road in the city.

“Golden Haven has always been known for its picturesque landscaped gardens. You can also expect the same lush greeneries and fresh air at Golden Haven Tagum,” she told BusinessWorld in an online interview.

She added that the greenery will blend with Tagum’s palm tree-lined highways.

The company develops and sells memorial lots as well as builds and operates columbarium facilities across the Philippines. It currently has 35 developments in 32 locations.

Its projects in Mindanao are located in Zamboanga City, Cagayan de Oro City, Bukidnon, South Cotabato, and General Santos City.

Ms. Escalante said the company’s memorial parks attract buyers not just for family use but also as an investment.

“We have investors who are not even from the city where our park is located. The high-value appreciation of our lots makes it attractive to investors,” she said. — Maya M. Padillo

Globe 5G network now covers ‘at least 88%’ of NCR

June 22, 2021 | 12:04 am

GLOBE Telecom, Inc. said on Monday that its fifth-generation (5G) network now covers at least 88% of the National Capital Region (NCR).

“Based on Globe’s latest report, at least 88% of the National Capital Region now has Globe 5G outdoor coverage with Bonifacio Global City Central Business District (CBD) and Ortigas CBD having the highest coverage with similar 97%,” Globe said in an e-mailed statement.

“Makati CBD is third with 96% coverage while Pateros is fourth with 92% coverage,” it added.

The Ayala-led telco’s 5G network is also available in “at least 82% or more in 13 cities in Metro Manila.”

Citing data from Ookla, the company behind Speedtest, Globe said its 5G network was the “most available” to users of 5G-capable devices in the first three months of the year.

“The Ookla data underscores the company’s expanding 5G coverage, which makes it possible for customers to latch on Globe’s 5G network much longer than competition,” it said.

Issa Guevarra-Cabreira, Globe chief commercial officer, said more customers are now adopting 5G, which promises faster speeds, higher bandwidth, and more stable internet connections than 4G.

“We expect more installations of 5G cell sites for the remaining six months of the year as the demand for 5G technology will continue to rise even further,” she added.

Globe said its 5G is also available in 81% of Cebu City, 68% of Boracay Island, 67% of Bacolod City, and 53% of Iloilo City.

“In Mindanao, 5G is now available in 73% of Davao City and 72% of Cagayan De Oro City.”

It also said six additional 5G cell towers are being installed in General Santos City. — Arjay L. Balinbin

More micro retailers opening in Eton Centris

June 22, 2021 | 12:04 am

ETON PROPERTIES is seeing an increase in micro retailers opening physical stores at Eton Centris in Quezon City. Eton Properties Chief Operating Officer Karlu Tan Say said there are signs the retail sector is “gaining pace” but has adapted to the “new normal.”

“Most commercial tenants prefer units with smaller cuts to complement their e-commerce strategies and save on operational costs. With the retail sector as one of the hardest hit in this ongoing pandemic, we’re pleased to see this boost in market confidence as we enter the second half of 2021,” she said in a statement.

Three new physical stores opened in Eton Centris this month, namely Brother’s Burger at Centris Cyberpod 3 and Chizmozza and Glory’s Empanada, which are both located in Centris Station.

Nine more retail stores set to open in the next few months. These include Bella Moda, Coco Fresh Tea and Juice, Glimpse, Nicatto Health Dynamics Corporation Health Clinic, Dragon’s Nest Cafe, Dragon’s Nest Restaurant, Empanada Nation, Jing Jing’s Balut, and Carinderia Hits.

However, retailers have shifted to kiosks or smaller shops with spaces averaging 32 to 59 square meters (sq.m.), from the usual cuts of 144 sq.m.

Da Vinci Capital, Cosco Capital execute share-for-share swap

June 22, 2021 | 12:03 am

business-man-shaking-hands — SNOWING/FREEPIK.COM

DA VINCI Capital Holdings, Inc. and Cosco Capital, Inc. have executed a deed of exchange on June 18 for a share-swap transaction, Da Vinci Capital disclosed to the exchange on Monday.

The company earlier said that it would revive its operations through a liquor distribution business.

Cosco Capital will be transferring all of its shares in Montosco, Inc., Meritus Prime Distribution, Inc., and Premier Wine and Spirits, Inc. (PWSI) to Da Vinci Capital.

The transaction includes 7.5 million shares in Montosco, 7.5 million shares in Meritus Prime Distribution, and 1.5 million PWSI shares.

In exchange, the company will issue Cosco Capital 11.25 billion common shares priced at P2 each.

Da Vinci Capital will be seeking approval from the Securities and Exchange Commission (SEC) for an increase in authorized capital stock and the subscription of Cosco Capital of shares in the company following the share-swap deal.

“[The company] shall likewise seek SEC confirmation on its exemption from registration of securities and the valuation of the shares which shall stand as consideration to be received from Cosco Capital pursuant to the share-for-share swap,” Da Vinci Capital said.

Once it receives the go signal from the SEC, both companies will apply for the certificate authorizing registration with the Bureau of Internal Revenue and the listing of the additional shares with the Philippine Stock Exchange within the year.

Da Vinci Capital previously said it would change its name to The Keepers Holdings, Inc., subject to stockholders’ and regulatory approval.

On Monday, shares of Da Vinci Capital at the stock exchange went down by 0.68% or two centavos to close at P2.94 each. — Keren Concepcion G. Valmonte

Russian homebuilder confident in PHL real estate sector’s growth

June 22, 2021 | 12:03 am

RUSSIAN HOMEBUILDER PIK expects demand for condominiums in Mandaluyong City to continue growing, as the country recovers from the pandemic.

“The Philippine real estate sector continues to grow, which is why we are so confident in our expansion plans,” PIK Country Manager Mai Yang said in a statement.

Ms. Yang said public infrastructure projects such as the BGC-Ortigas Center Link Road, rehabilitation of the Metro Rail Transit Line 3 and EDSA Greenways will help boost Mandaluyong’s connectivity with other parts of Metro Manila.

PIK is developing its first residential condominium project, One Sierra, in Mandaluyong City.

“With One Sierra, we offer relaxed urban living at the center of this bustling city. We named the building after the quaint Sierra Madre Street that provides balance to our central location with easy access to EDSA with a quieter neighborhood behind our property,” PIK Marketing Director for International Projects Elena Petropavlovskaya said.

GrowSari raises over $30M in funding from global investors

June 22, 2021 | 12:02 am

E-COMMERCE platform GrowSari said on Monday that it had raised over $30 million so far this year for funding in two rounds of capital raising efforts.

Series A investors include Robinsons Retail Holdings, Inc., JG Digital Equity Ventures, and Wavemaker Partners LLC.

Meanwhile, Singapore-based investment company Pavilion Capital Fund Holdings Pte. Ltd. and growth fund Saison Capital Pte. Ltd., Tencent Holdings Ltd. in China, and International Finance Corp. make up the list of Series B investors.

“With the fresh funds, we aim to more than double GrowSari’s existing coverage and service more than 300,000 sari-sari stores, including those in Visayas and Mindanao,” GrowSari Co-Founder Reymund Rollan said in a statement on Monday.

“This will also help us broaden our supplier marketplace with new third-party partners and scale our financial service pilots,” he added.

GrowSari is a mobile app connecting sari-sari stores, or neighborhood mom-and-pop shops, to products of FMCG (fast-moving consumer goods) brands at distributor prices. Products by Unilever, Procter & Gamble, Alaska, and Nestle are included in GrowSari’s offerings. It also has flexible payment options.

Meanwhile, orders from the app will be delivered straight to each store without additional costs and minimum order requirements.

The app also gives them access to become online shopping ordering hubs in their communities, as well as giving them access to payment services.

GrowSari also has microfinancing support and assistance options, and e-services in telco and remittance.

“GrowSari aims to empower and significantly increase the earnings of sari-sari stores in the Philippines by providing direct access to a wide assortment of affordable products, e-businesses, and financial assistance,” Mr. Rollan said.

Founded in 2016, the mobile app aims to tap the local stores’ potential to be the biggest and most accessible distribution channel in the Philippines.

“Through GrowSari, we want to use proprietary technology to accelerate financial health for Filipino sari-sari store owners, helping them to use, protect, and grow their business in the long run and transforming sari-sari stores into comprehensive service hubs for the Philippines’ grassroots communities,” Siddhartha Kongara, chief technology officer of GrowSari, said.

As of end-2020, the app had a user base of 50,000 stores in over 100 municipalities across the Luzon island. The company aims to expand to 200 cities and serve over 300,000 sari-sari stores, including those in the Visayas and Mindanao. — Keren Concepcion G. Valmonte

So it shall sound

June 22, 2021 | 12:02 am

Mobile-Recording-Kit-2 — HIT PRODUCTIONS mobile recording

Audio company goes for remote recording during pandemic

WHEN the country went under COVID-19 (coronavirus disease 2019) lockdown last year, like many other activities, the recording and mixing of new music and sound by a team in a studio had to take a break. For many of these recording businesses, the transfer to a digital platform enabled them to continue operations despite the restrictions.

Audio production house Hit Productions was one of the studios that were able to sustain their operations and expand their portfolios, attracting more clients and projects amidst a global crisis.

Established in 1991, Hit Productions has created award winning audio for local and international brands such as Unilever, Coca Cola, Nestle, Globe, P&G, J&J, McDonald’s, and Jollibee. It has also recorded albums for bands such as Ben & Ben, Razorback, and South Border, as well as produced surround sound audio for films including On the Job, Heneral Luna, and Ang Larawan,

According to Hit Productions President and Managing Partner Vic Icasas, it helped that the studio has had remote work protocols in place since 2013. The team was using Slack, Source Connect, and Zoom, all of which enabled employees to conduct online meetings and contactless recordings. In 2019, the company launched a mobile recording van that would go to the talents, enabling them to record their music or speech despite busy schedules that would keep them away from a normal studio.

To record with a remote set up during the lockdown, the company prepared tablet-powered portable recording kits that included a pair of professional headphones, a microphone, and files preloaded with all the scenes or the scripts for the voice actor.

“We deliver it by courier, [the device] is self-operated. Our engineers will be on Zoom with the talent to help set it up and [get] tested. And then the client and the agency supervise the recording over Zoom,” Mr. Icasas said during an online press conference on June 14.

The arrangement was fruitful. Hit Productions was able to handle the sound production for ad campaigns in 2020 such as “Ingat Angat,” a private sector-led health and safety campaign during the pandemic.

“The van that we envisioned to be able to reach out to remote talents has now become an [iPad] in a hardcase. The surround sound room that we use to mix local movies is now actually fully booked,” said Mr. Icasas. They even found themselves working with international clients in the past year. “We are mixing feature films, TV shows for streaming services in Malaysia and Indonesia,” he said. They are also producing voiceovers for a foreign video game company and audio books for Hong Kong-based clients.

THE FUTURE FOR AUDIO RECORDING
Mr. Icasas noted that the accessibility provided by digital tools, remote working, and communication platforms may continue to promote audio production in the Philippines.

“The democratic nature of tools being available, [and] of knowledge being available — watching YouTube lessons — has actually managed to scale up people to the point that we’re seeing more talented applicants coming our way which we didn’t used to see before,” he said.

Prior to the advancements in digital technology and social media, television and radio advertisements “took forever to produce,” he noted.

“[It took] a couple of months to shoot, to color grade, and to produce the music. For radio, [it was] probably quicker because there is no (video) shoot involved. But still was not [at] the amazing pace that social media comes out with new content [and] ads nowadays,” he said.

While television and radio allot airtime of 30 seconds to a minute for ads, “Now you have three to six second ads or bite-sized ads coming out of TikTok, and three or five minutes of mini movies coming out on YouTube,” he said.

“The opportunities for the audio production industry are quite exciting, because of all the different media channels and all the different lenses of advertising that we now have to work with,” Mr. Icasas said.

“Audio [production] is definitely a mature medium, but it’s a moving target. And it is an exciting time to be in the audio business. This is the time to be agile.”

For more information, visit https://www.hitproductions.net/ and https://www.facebook.com/HitProductions/. — Michelle Anne P. Soliman

More Robinsons malls get safety seals

June 22, 2021 | 12:02 am

TWO MORE Robinsons malls have received the “safety seal” from the government.

In a statement, Robinsons Malls said its malls in Tagaytay and Quezon City have been given the safety seal by the departments of Interior and Local Government, Health, Trade, Tourism and Labor.

With the safety seal, Robinsons Tagaytay and Robinsons Magnolia are considered “safe to the public and compliant with the health and safety protocols mandated by the government.”

This brings to seven the number of Robinsons malls with the safety seal.

Gov’t increases T-bill award as rates drop further

June 22, 2021 | 12:02 am

THE GOVERNMENT hiked the volume of Treasury bills (T-bills) it awarded on Monday as rates dropped across all tenors on expectations that the central bank would keep borrowing costs at record lows at this week’s policy meeting.

The Bureau of the Treasury (BTr) raised P17 billion via the T-bills on Monday, higher than the P15-billion program, as it accepted more bids for the one-year securities.

Total tenders for Monday’s auction reached P59.064 billion, or nearly four times as much as the offer volume.

Broken down, the BTr borrowed P5 billion as planned from the 91-day T-bills from bids worth P15.75 billion. The three-month papers fetched an average rate of 1.078%, down by 4 basis points (bps) from the 1.118% quoted in the previous auction.

The Treasury also made a full P5-billion award of the 182-day papers on offer on Monday as tenders hit P18.967 billion. The average rate of the six-month debt dipped by 2.4 bps to 1.348% from 1.372% last week.

Meanwhile, the government raised P7 billion from the 364-day securities, higher than the P5-billion plan, as the BTr doubled its acceptance of noncompetitive bids to P4 billion from P2 billion. The one-year tenor attracted P24.347 billion in bids and were quoted at an average rate of 1.563%, down by 1.4 bps from the 1.577% fetched at last week’s offering.

National Treasurer Rosalia V. de Leon said T-bill rates declined on Monday amid strong liquidity in the market and steady inflation.

“For now, rates will stay low as markets anticipate MB (Monetary Board) to hold rates,” Ms. De Leon said in a Viber message to reporters after the auction.

A bond trader said yields on the short-term debt papers dropped on expectations of stable prices after Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno last week said they see inflation staying “manageable” this year.

“But [it’s] interesting to note that the bid-to-cover ratio is lower this week than the past three auctions, and the drop [in rates] is less than the past three auctions as well,” the trader said via Viber.

The trader added that demand for the T-bills seems to be easing.

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.

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.

Meanwhile, inflation rose by 4.5% for the third straight month in May. While this was slower than the two-year high of 4.7% in February, it exceeded the central bank’s 2-4% target range.

Year to date, headline inflation averaged at 4.4% as of May. The BSP expects inflation for 2021 and 2022 to reach 3.9% and 2.8%, respectively, within target but quicker than the 2.6% print in 2020.

Mr. Diokno last week said headline inflation will likely slow and fall within its target range by yearend.

On Tuesday, the BTr will auction off reissued 10-year Treasury bonds (T-bonds) with a remaining life of five years and 10 months.

The Treasury wants to raise P215 billion from the local debt market this month: P75 billion via weekly offers of T-bills and P140 billion from weekly auctions of T-bonds.

The government is looking to borrow P3 trillion from domestic and external sources this year to help fund a budget deficit seen to hit 9.3% of gross domestic product. — BML

Vista Land’s Lessandra brand sees 28% growth

June 22, 2021 | 12:01 am

VISTA Land & Lifescapes, Inc.’s Lessandra brand has recorded a 28% year-on-year growth rate in the month of May, as sales also increased.

The brand caters to the affordable market segment. It also recorded a 43% sales bump in May, the company said without disclosing specific figures.

“The positive growth we have is due to our unceasing efforts to provide quality and affordable homes to homebuyers, excellent service, and by keeping up with the trends and technology, particularly in the digital arena,” Lessandra Division Head Eduardo T. Aguilar said in a statement on Monday.

The brand offers virtual home tours. Reservation and payment processes are available through its website, where customers can also get a real-time response should they have queries.

“On top of that, we have official social media pages, so clients have the flexibility to choose which platform they are more comfortable with to reach out to us,” Mr. Aguilar said.

Lessandra will also continue project expansions this year in Luzon and Mindanao. It also looks to offer its first condominium located near Metro Manila.

The brand, formerly a house series under Camella Homes, is currently present in over 40 communities nationwide.

On Monday, Vista Land stocks at the local bourse closed lower by 2.39% or nine centavos at P3.67 each. — Keren Concepcion G. Valmonte

Entertainment News (06/22/21)

June 22, 2021 | 12:01 am

1 of 5

My Amanda on Netflix

NETFLIX Philippines’ film My Amanda, stars Alessandra de Rossi (this is also her directorial debut) and Piolo Pascual (who is also the co-producer). My Amanda tells the story of unusually close best friends while dealing with their respective complicated relationships. My Amanda is produced by Spring Films and AWOOO. It premieres on Netflix on July 15.

Kyle Echarri releases new album, New Views

KYLE Echarri comes out with his second full-length album New Views. In a major shift from his debut album, which came out in 2016, the 18-year-old artist wrote all seven original tracks included in the album from ABS-CBN’s Star Pop label. He was also heavily involved in the production of most of the songs. Label head Rox Santos is the album’s supervising producer. Its key track, “Liligawan Na Kita,” is a writing collaboration between Mr. Echarri and his Huwag Kang Mangamba co-stars Seth Fedelin and Andrea Brillantes. The song, produced by Mr. Echarri and co-performed by Seth, talks about one’s willingness to wait and court someone very special. Mr. Echarri’s 2020 single “I’m Serious” is also included in the album, along with “Dyosa” which was produced by RnB singer Jay-R. New Views is available on various digital music streaming services.

Rapper Zelijah releases EP

AWARD-WINNING rapper, songwriter and producer Zelijah has released his long-awaited EP, Press F to Drop Out, a collaboration with rising rapper Ellis G. The six-track EP navigates a story of two college dropouts pursuing their passion in music and arts, while facing the challenges of juggling adult responsibilities and landing a lucrative career out of their chosen paths. Press F to Drop Out explores music beyond the fringes and outside of the two artists’ comfort zone. “We made it happen by incorporating unusual sounds and instruments, as well as trying new genres we wouldn’t usually dive into,” Mr. Zelijah said in a statement. “The ending result is a colorful EP that caters to every emotion.” The EP’s carrier single, “Black Silk,” blends Miami bass with electronic and hip-hop music. Press F To Drop Out is produced, mixed, mastered, and written by Mr. Zelijah, and is co-written by Ellis G. The song “Hellhound” features Malli and was co-produced by Tashi, a young producer based in Manila. “Rags 2 Racks” and “Fake Friends” feature a guitar arrangement from Lexus Cabanting, and the latter also highlights a saxophone solo from SUD’s Carlos Dela Fuente. Press F to Drop Out is out now on digital music platforms worldwide via Sony Music Philippines.

KMJS’ story named finalist at the 2021 NYF

Kapuso Mo, Jessica Soho’s (KMJS) story on “Babaeng Tinaga sa Mukha (The Woman Slashed on Her Face)” is a finalist at the 2021 New York Festivals (NYF) World’s Best TV and Films Competition. The two-part episode is one of the six contenders from the Philippines competing against nominees from other countries. GMA Network has five short-listed entries this year. “The Woman Slashed on Her Face” is vying for a Medal in the Documentary: Social Justice category and tells the harrowing story of a woman named Celia who was slashed across her face by her husband. Aired in June 2020, the story shed light on domestic abuse and how cases of gender-based violence further increased during the implementation of the community quarantine in the country at the height of the pandemic. A few months after the episode aired, Celia finally got justice — her husband was arrested by the police. KMJS aired the second part of the story in November 2020. The episodes were produced by Sancia Novie Palma. Winners of this year’s NYF will be revealed on Oct. 12 in Las Vegas. Kapuso Mo, Jessica Soho airs Sunday nights at 8:25 p.m. on GMA Network.

Godzilla vs Kong to premiere in PHL on HBO GO

DIRECTED by Adam Wingard, legends will collide as Godzilla vs. Kong which premieres on HBO GO from June 23. For decades, cinematic titans Godzilla and King Kong have been following their own, separate journeys in film, until now. In this iteration of their stories, Godzilla uncharacteristically attacks cities at random — cutting a swath of destruction across the globe. Meanwhile, Kong in this story is by far the largest incarnation to ever appear on-screen. As always, Kong has an endearing bond with a human — this time, it’s a young Skull Island orphan, who is, like him, the last of her line, Jia. As the paths of these two titans unexpectedly cross, they battle to restore balance to the Earth. The film stars Alexander Skarsgård, Millie Bobby Brown, Rebecca Hall, Bryan Tyree Henry, Shun Oguri, Eiza González, Julian Dennison, with Kyle Chandler and Demián Bichir. For more movies from the MonsterVerse, both Godzilla and Godzilla: King of The Monsters are available to stream or download on HBO GO.

Bria Homes to hold ‘PlanTahanan’ Day

June 22, 2021 | 12:01 am

BRIA HOMES is looking to promote sustainability and environmental awareness with its virtual PlanTahanan Day event on June 30.

The event, which will be livestreamed at 10 a.m. on the BRIA Homes official Facebook Page, will tackle the themes of sustainability, wide open spaces, and benefits of trees.

Participants will learn how to “reduce their ecological footprints such as reusing and recycling, supporting local economies, eliminating plastic wastes, planting trees, and using mass transit — instead of driving — to nearby destinations.”

The event will also highlight open spaces at Bria Communities, as well as the importance of planting trees in these residential developments.

“We want to remind Filipinos of the amazing benefits of trees — how they generate oxygen, lessen greenhouse gases, reduce air and water pollution, prevent flood damage, provide natural habitats for animals, and offer generous shade that contribute to the comforts of living in a safe and clean environment,” Rizalito “Red” J. Rosales, president and CEO of Bria Homes, said in a statement.