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Honda City Hatchback 1.5 RS CVT: Game, set, hatch

No Jazz, no problem: The City delivers all the usual Honda traits of agility and nimbleness. — PHOTO BY MANNY N. DE LOS REYES

Chopping off the Honda City’s trunk — and all that Jazz

I’VE ALWAYS felt that the Honda Jazz is one of the greatest cars on Earth. Yes, it’s a GOAT — not just in its class, but in the whole “automobiledom.”

And why shouldn’t it be? The Honda Jazz retains all the virtues that the world-changing Austin/Morris Mini pioneered when it introduced front-wheel drive to an unsuspecting world way back in 1959 — diminutive dimensions that wrap around a surprisingly spacious interior and a small, fuel-efficient engine that delivers spritely (and even world-beating) performance.

And now Honda, at least Honda in the Philippines, is putting the Jazz name to rest as the current model enters the twilight phase of its life cycle. The next-generation Jazz (the Honda Jazz has always been called Honda Fit in Japan, Europe and America) debuted in the 2019 Tokyo Motor Show and will likely continue only for the Japanese and European markets. The new car’s styling is decidedly less sporty and more futuristic than its predecessors’.

So what is Honda to do in the Philippines? The answer to that is easy: Take its best-selling model, the City, and lop off the trunk. Of course, that’s easier said than done.

But it makes a lot of sense, because the Jazz has always been based on the City (the first Jazz was based on the second-gen City). The City has also always been universally acclaimed. In my many years of automotive journalism, I have yet to hear of negative feedback on Honda’s subcompact sedan.

So does the new City Hatchback live up to its illustrious forerunner’s game-changing ways? In a word, a resounding “yes!”

The City Hatchback is powered by the same 1.5-liter DOHC i-VTEC engine that powers the City sedan and produces 121ps at 6,600rpm and 145Nm of torque at 4,300rpm. This smooth and eager motor is mated to a CVT with paddle shifters. Honda’s Eco Assist System, which consists of the Econ mode and Eco-Coaching Ambient Light, is still available to help promote fuel-efficient driving.

On the road, the City Hatchback delivers all the usual Honda traits of agility and nimbleness. Its rev-happy engine is very energetic and wonderfully smooth and vibration-free. There’s no stick shift but you can still have a little fun flicking through the paddle shifters. The balance between ride quality and handling responsiveness is arguably the best in its class: No surprise for a Honda to ace on-road dynamics.

Size-wise, the City Hatchback is as wide, just under an inch taller, and is a sizable eight inches (204mm) shorter than its four-door sibling. More importantly, it has the same generous 2,600mm wheelbase. Best of all, it has the ingenious fold-flat or flip-up ULTR seats of the Jazz to give it a level of versatility and flexibility that will shame many crossovers.

The four ULTR modes are:

• Utility Mode: With the two rear seats folded flat, the vehicle can carry two passengers and accommodate large cargo items in the rear storage area;

• Long Mode: With the front passenger seat fully reclined and rear passenger seat folded flat, the vehicle can carry two passengers and accommodate long cargo items such as surfboards;

• Tall Mode: With the rear seats folded upward, the vehicle can accommodate tall items that need to remain upright, such as a large plant or tall piece of luggage;

• Refresh Mode: After removing the front-seat headrests, moving the seats all the way forward and tilting the seatbacks all the way back, the Refresh Mode allows the front and rear seats to be connected — providing a comfortable place for two people to fully recline.

Any subcompact crossover can fit three or four golf bags with the rear seatbacks folded down. But how many subcompact crossovers can fit two tall plants on the floor of the rear seat area while lugging a window-type air-con, plus a week’s worth of groceries in the rear cargo area? The Jazz and the new City Hatchback can.

Unlike the City sedan — which comes in three variants ranging in price from P848,000 (City 1.5 S) to P1.058 million (City 1.5 RS) — the City HB comes in only one form: the fully loaded P1.115-million City Hatchback RS (a P57,000 premium over the similarly outfitted top-of-the-line City RS sedan). I still wish Honda Cars Philippines would introduce a lower-spec City HB variant like the sedan’s S or V counterpart. They might even be able to squeak one in at just under P900,000 (if it’s an S version).

In any case, a City HB RS buyer will enjoy the car’s generous features. Inside, the City Hatchback boasts a spacious cabin complemented by high-quality materials similar to the sedan. Comprised of its equally beautiful and comfortable suede-and-leather seats, black interior trim with red stitching and accents, leather-wrapped shift knob and steering wheel with audio controls, front and rear center armrests, sports pedals and multi-information display with red illumination, the City Hatchback embodies an overall premium interior complementing its sporty RS design exterior.

The car also boasts an array of various tech features such as an eight-inch touchscreen/eight-speaker infotainment system with Apple CarPlay, Android Auto and WebLink connectivity, and a new air-conditioning system with (hooray!) rotary knobs working with a digital AC display. The City HB also features a push-start system with smart keyless entry system and remote engine start, which provides added convenience and ease of access.

Safety features include Honda’s G-Force Control (G-CON) body structure, Vehicle Stability Assist (VSA) with Agile Handling Assist (AHA), Emergency Stop Signal (ESS), ABS, Electronic Brake Force Distribution (EBD), Hill Start Assist (HSA) and Multi-view Rear Camera with dynamic guidelines. The City Hatchback also comes standard with six air bags (dual front air bags, side air bags, and side curtain air bags) and boasts a five-star ASEAN NCAP safety rating.

All things considered, the City Hatchback not just makes a worthy successor to the Honda Jazz, it even makes a compelling argument against many crossovers, a vast majority of which never venture off road, anyway. The City Hatchback is that rare jack of all trades and master of many. More people should appreciate its genius.

US coffee roasters scramble for Colombian supplies, prices jump following disruptions caused by protests

REUTERS

NEW YORK — Coffee processors in the United States are scrambling to secure Colombian coffee stocks as recent protests in the South American country have disrupted deliveries to the world’s largest coffee consumer.

Stocks of Colombian coffee, a very popular type of mild arabica beans among US customers, are rapidly shrinking as roasters with contracts to supply groceries and coffee shops with coffee specifically labeled as 100% Colombian rush to get those bags, importers said.

Some of that Colombian coffee will be replaced by other mild beans from Central American countries, they said, but at a smaller scale.

“You can’t really replace Colombians. Big roasters have commitments to deliver those packages to supermarkets,” said a US-based coffee importer, adding that he has basically ran out of that coffee in the last few days.

He said prices for Colombian coffee stocked in the United States rose to up to 75 cents per pound over ICE futures in the local cash market, from a 55 to 58 cents premium before the anti-government protests in Colombia that blocked roads and stopped the flow of coffee to ports.

Protests have paused, but it will take time for normal flows to resume.

“It should take 60 to 90 days. There is a short supply of Colombians in the arrivals, in the offloads at ports,” said Christian Wolthers, a partner at US coffee importer Wolthers Douqué LLC.

Jairo Castano Vargas, who works for an independent Colombian coffee exporter, said that despite the formal end of protests, problems persist.

“Some trucks with goods have been attacked by demonstrators when approaching the ports,” he said. The port of Cartagena is still only at 20% of loading capacity.

A third US importer said that some roasters who are not contractually obligated to supply coffee from a specific origin may replace Colombian beans with other coffees in their blends.

He also said that smaller specialty coffee roasters may take Colombian coffees off the shelf temporarily if they cannot find them at reasonable prices. — Reuters

Emperador aims to expand Tamnavulin facilities

LISTED brandy and whiskey manufacturer Emperador, Inc. is eyeing to further expand facilities and capacity after seeing an increased demand for its single malt brand, Tamnavulin.

“Abroad, we are expanding capacity in Scotland,” Kevin Andrew L. Tan, director at Emperador, told reporters last Wednesday, “Our Tamnavulin is selling very, very well, it’s hit the Top 25 already… so there’s [a] clamor to improve, to increase the capacity.”

Other names under the company included in the Top 25 Single Malt Brands are The Dalmore and Jura, the company said during listed conglomerate Alliance Global Group, Inc. stockholders’ meeting on Thursday.

Mr. Tan said the company is looking to invest more in expanding Tamnavulin facilities after seeing increased popularity in Taiwan and China.

“A lot of our allocations to be honest is going to China right now, Taiwan, Japan, and surprisingly Cambodia,” Mr. Tan said.

“These are some of the key countries or areas where we’re expanding very fast but Asia seems to be very resilient, also [the] US,” he added.

Last month, Emperador said it is allotting a P1.5-billion budget for capital expenditures this year as it accelerates global expansion plans. Its brandy and whisky products are available in over 100 countries on six continents.

Emperador generated a net income of P2.08 billion for parent firm equity holders in the January-to-March period, a 43% jump from P1.46 billion year on year. Its topline went up by 13% to P12.07 billion due to the “robust performance” of its global business.

On Friday, shares of Emperador at the stock market rose by 0.2% or two centavos, closing at P10.10 each. — Keren Concepcion G. Valmonte

BSP allows sharing of consumer data

BW FILE PHOTO

THE Monetary Board has approved the rules allowing banks to share consumer data to improve their financial solutions, the Philippine central bank said at the weekend.

In a statement, the Bangko Sentral ng Pilipinas (BSP) said the open finance framework would promote financial inclusion and drive digital transformation.

Allowing the sharing of user data would help financial institutions improve investment, pension and insurance products, among other things, it said.

The central bank said information sharing would be phased based on the sensitivity, type and holder of the data.

“The tiers are not necessarily sequential and multiple implementations may occur at the same time,” it said.

The first tier will involve sharing of information on products and services and other details that are already accessible online. The second level gives access to data on subscriptions and new account applications.

The third tier covers sharing of accounts, personal and financial information provided by customers, and the next level will give access to transaction data such as payment history.

The framework will also cover other information on more complex financial products, the BSP said.

“Open finance is definitely not a sprint but a marathon,” central bank Governor Benjamin E. Diokno said in the statement. “It will be a long and challenging run, but just like any other sport we need to properly prepare and condition ourselves to finish strong in this race.”

“It will further enhance interoperability in the country by promoting the open finance framework that aligns well with the BSP’s digitalization goals,” Angelito M. Villanueva, executive vice-president at Rizal Commercial Banking Corp., said in a Viber message on Sunday. — Beatrice M. Laforga

adidas unveils latest collaboration with LEGO

GLOBAL sportswear brand adidas recently launched a set of products done in collaboration with the LEGO Group and innovative tights designed to keep more menstruating persons in sport.

Launches new period proof tights

GLOBAL sportswear brand adidas recently unveiled a set of products done in collaboration with the LEGO Group. It has also released innovative tights designed to keep more menstruating women in sports.

LEGO and adidas Originals teamed up anew to give a new take on the Superstar sneaker as well as a buildable Lego brick model of the popular silhouette.

The adidas brand also launched new tights in line with its push to service all women in sport.

The adidas Originals LEGO Superstar sneakers highlight iconic elements from both brands — the aesthetics of the former and the recognizable bricks of the latter.

Available in adult sizes, the LEGO Superstar features classic white and black leather construction that is elevated with custom three stripes, shelltoe, and heel tab which have been carefully crafted to emulate the LEGO brick pattern. Gold foil accents round out the look.

To complement the release of the LEGO Superstar, the groups are releasing a “never seen before” LEGO offering in the form of a collectible display piece. The LEGO adidas Originals Superstar 10282 is just like the real thing — it has the iconic adidas Originals Superstar sneaker graphics, shell toe shape, trefoil logo, and serrated three stripes mark — but given a LEGO twist.

The model measures over 12 cm high, 27 cm long, and 9 cm wide and comes with a display stand and plaque. The set also includes 17 extra LEGO elements so one can choose to build either the right-foot or left-foot sneaker, or both for those who want to create a pair. For extra realism, it has shoelaces and comes in an authentic shoe box.

“As a kid of the ‘80s and growing up in the ‘90s, the Superstar sneaker with its rich street art culture was such an iconic item, and that’s also when I got my first pair. So, when the collaboration with adidas started I was super excited to work on this model,” said Florian Müller, Senior Designer, LEGO Group, of their collaboration in a release.

“As shoes represent very organic objects, made from flexible material that also look different on every person, it was a fun challenge to translate this into the LEGO System in Play, which by nature is square and blocky… It’s been a super collaborative process with valuable insights shared about the art of shoe making, and now we just look forward to seeing how fans will take to the model, customizing it in their own unique and wonderful ways.”

TECHFIT PERIOD PROOF TIGHTS
Meanwhile, adidas released its TechFit Period Proof Tights to encourage more women to do sports during their period without the fear of leakage.

Done under its “Watch Us Move” campaign, a commitment to revolutionize its product offerings and services to better support the needs of its diverse female community, adidas’ TechFit Period Proof Tights feature an absorbent layer that not only protects against leaks, but is also able to help keep the tights in place, ensuring utmost comfort and confidence for the user.

The new performance wear is driven by a study that shows teenage girls are dropping out of sports at an alarming rate, with one of the key reasons being fear of period leakage. Using these insights, the brand set out to create a product that helps athletes stay in a sport throughout their cycle by giving them an added layer of protection.

The tights use the new adidas Flow Shield technology which has a set of absorbent layers and a membrane that helps protect against leaks, giving athletes added confidence while training through their period. A wicking layer, absorbing layer, and leak-proof layer work together to provide protection, while a bonding frame holds each layer together and keeps the tights in place.

“We started designing this collection from the inside out. We knew it had to be comfortable and breathable, but, most importantly, it had to serve its purpose of helping to protect against leakage,” said Kim Buerger, Senior Product Manager — Women’s Apparel at adidas.

The TechFit Period Proof collection is now available on adidas.com.ph, in stores, and via the adidas app.

Meanwhile, the LEGO Superstar is set to drop on July 1 in select adidas retailers and adidas.com as is the LEGO adidas Originals Superstar 10282 model which will be exclusively available at LEGO Certified Stores and the official online store at bankeebricks.ph, priced at P5,999.75. — Michael Angelo S. Murillo

M & M & M, as you want them

BMW M5 Competition — PHOTO FROM BMW PHILIPPINES

BMW Philippines offers wide customization options on new M models

GOOD THINGS come to those who wait. And that’s exactly the message SMC Asia Car Distributors Corp. (SM ACDC), the official importer and distributor of BMW vehicles in the Philippines, wants to deliver to fans of the Munich-based car maker.

Its trio of M vehicles — the all-new M3 Competition Sedan, all-new M4 Competition Coupé, and refreshed M5 Competition — can be customized to the customer’s druthers from “various M parts and ex-factory price options to lend their M vehicle a special touch with the highest standards of quality.”

In a release, SMC ACDC President Spencer Yu said, “It’s all about making our finest cars even more special. Our customers value and deserve exclusivity and individuality; and that is exactly what our BMW M division caters to. The selection process allows for limitless combinations between exterior, interior, and performance features to make the overall experience of buying and owning a BMW M car genuinely exciting.”

The wait will take four to six months, but BMW buyers will surely delight in the bespoke quality of their vehicles once these get to them.

For buyers of the BMW M5 Competition, exclusive interior finishes are available such as BMW Individual fine-wood trims, stand-alone options like a Bowers and Wilkins surround sound system, BMW Individual paint colors, and a range of M light alloy wheels.

On the other hand, the all-new BMW M3 Competition Sedan and all-new BMW M4 Competition Coupé are offered in “a thrilling set of materials to choose from.” Customers can opt for unique body paintwork and distinct colors for interior panels. The customization even extends to the complement of driver assistance systems, such as the BMW head-up display and Parking Assistant Plus, or high-performance accessories like M carbon ceramic brakes. “BMW guarantees that customers are free to handpick the details,” insisted the company.

Globally launched last year, the all-new BMW M3 Competition Sedan and BMW M4 Competition Coupé are siblings with a long history — it’s been 35 years since the original M3 rolled out. These midsized high-performance sports cars in sedan and coupé iteration are said to be “track-optimized” while nonetheless boasting everyday utility.

Both are powered by a high-revving in-line six-cylinder engine returning 510hp, mated to an eight-speed M Steptronic transmission with Drivelogic. “The new 3.0-liter straight-six unit combines the hallmark high-revving character of BMW M GmbH engines with the latest version of M TwinPower Turbo technology. Two turbochargers with indirect charge air cooling, a flow-optimized air intake system, and a petrol direct injection system working with maximum pressure of 350 bar help to generate the engine’s instantaneous power delivery and appetite for revs, which it sustains without interruption into the higher reaches of the engine speed range,” said BMW.

Meanwhile, the BMW 5 M Competition is distinguished from its normal 5 siblings through black styling details. A high-gloss black finish marks the BMW kidney grille surround, mesh on the M gills, the exterior mirror caps and additional rear spoiler on the boot. The rear apron gets black inserts. M5 Competition logos are on the kidney grille, gills and boot lid, while the door sill plates have an illuminated version. The tailpipes of the standard M Sport exhaust system are finished in black chrome.

Under the hood is BMW’s S63 V8 engine promising 625hp at 6,000rpm. At 1,850rpm, the peak torque of 750Nm arrives and “is sustained at this elevated level all the way to 5,860rpm.” The new BMW M5 Competition reaches 100kph from standstill in only 3.3 seconds; 200kph from rest in 10.8 seconds. It can muster a top speed of 250kph.

The kind of bespoke options afforded the M line will be unrivaled in the BMW stable. In response to a question from “Velocity,” Spencer Yu said, “We will be keeping the customization options exclusive to our M models. Giving our customers an opportunity to personalize their vehicles simply makes the purchasing experience ultimately more enjoyable. We hope that this brings not only automobile enthusiasts but also aspiring performance car owners closer to the world of BMW M.”

A purchase of any BMW vehicle comes with a class-leading BMW Warranty which covers each vehicle for five years or 200,000 kilometers, whichever comes first.

Australia: Taking China to WTO over wine tariffs enables negotiations

REUTERS

MELBOURNE — Australia’s complaint to the World Trade Organization (WTO) over China’s anti-dumping duties on wine exports should enable bilateral negotiations, Foreign Minister Marise Payne said on Sunday.

The government filed a complaint on Saturday over duties that were applied last year and nearly wiped out exports of Australian wine to the Chinese market.

“What lodging the dispute enables us to do is begin dispute consultation settlements, which actually is a bilateral discussion with China about the issues,” Payne said in an interview on the Australian Broadcasting Corp.’s (ABC) Insiders program.

“We’ve seen duties of over 200% applied to Australian wine. We don’t believe that that is consistent with China’s obligations under the WTO. So that part of the process enables us to have that direct conversation.”

The Australian government has complained frequently that China has ignored calls to ease trade tensions.

It is the second time in six months Australia has appealed to the WTO. In December, Canberra launched a formal appeal seeking a review of China’s decision to impose hefty tariffs on imports of Australian barley.

Relations with China, already rocky after Australia banned Huawei from its nascent 5G broadband networking in 2018, have worsened since Canberra called for an international inquiry into the origins of the coronavirus, first reported in central China last year.

China, Australia’s largest trading partner, responded by imposing tariffs on Australian commodities, including wine and barley and limited imports of Australian beef, coal and grapes, moves described by the United States as “economic coercion.”

Asked about the fresh international push to find answers to the origin of the virus that causes COVID-19, Payne said it was important to maintain the momentum.

“We are very determined to work with our partners to ensure that (…) investigation is able to access its material that it needs, including within China,” Payne said. — Reuters

PSE staff get COVID jabs via Taguig City bus

COURTESY OF PHILIPPINE STOCK EXCHANGE, INC.

THE Taguig City local government brought its coronavirus disease 2019 (COVID-19) vaccination bus to the Philippine Stock Exchange, Inc. (PSE) tower last Friday for the inoculation of PSE employees and other building personnel.

“[The] inoculation event will certainly boost investor confidence, which is the fuel that drives the stock market. We will reopen the Trading Floor shortly given that our employees have been vaccinated and are now protected from the virus,” PSE President and Chief Executive Officer Ramon S. Monzon said in a statement.

Other officials present last Friday were Senator Pia S. Cayetano, Trade Secretary Ramon M. Lopez, Socioeconomic Planning Secretary Karl Kendrick T. Chua, Vaccine Czar Carlito Galvez, Jr., National Task Force Against COVID-19 Special Advisor Teodoro J. Herbosa, Taguig City Mayor Lino Cayetano, and Taguig City Vice-Mayor Ricardo Cruz, Jr.

The exchange’s employees are part of the country’s A4 priority group or the economic frontliners.

Mr. Chua was the first to receive a dose at the vaccination bus at the PSE Tower last Friday, where a total of 206 individuals got vaccinated.

This includes 135 PSE employees, 28 building tenants, and 43 building personnel.

“The inclusion of private sector employees or economic frontliners among the priority groups for inoculation is a major step in the reopening of the economy,” Mr. Monzon said. — Keren Concepcion G. Valmonte

Yields mixed after Fed remarks

YIELDS ON government securities ended mixed last week as the US Federal Reserve signaled it was no longer guaranteeing its policies would be dovish.

The yields, which move opposite prices, fell by 1.69 basis points (bps) on average from a week earlier, based on the PHP Bloomberg Valuation Service Reference Rates posted on the Philippine Dealing System website.

At the short end of the yield curve, rates of the 91-, 182- and 364-day Treasury bills (T-bills) went down by 3.26 bps, 0.68 bps and 3.47 bps, respectively to 1.2217%, 1.4267% and 1.6367%.

The belly of the curve ended mixed as yields on the two-, three- and four-year Treasury bonds (T-bonds) fell by 4.92 bps to 1.9816%, 2.82 bps (2.3773%) and 0.57 bp (2.7453%), respectively. The rates of the five- and seven-year T-bonds rose by 1.22 bps and 0.9 bp to fetch 3.0669% and 3.5182%.

At the long end, 10-year notes rose by 3.67 bps to 3.8882%, while the 20- and 25-year debt paper dropped by 4.13 bps (4.9514%) and 4.5 bps (4.9486%), respectively.

“The initial catalyst had been the Bureau of the Treasury’s 10-year bond auction,” Jose Miguel B. Liboro, head of fixed income at ATRAM Trust Corp., said in an e-mail. Yields rose further toward the end of the week as hawkish comments from the US Fed caused a spike in US Treasury yields, he added.

The bond market was now more confident that runaway inflation would not occur, said Nicholas Antonio T. Mapa, a senior economist at ING Bank N.V. Manila. “Local bonds were also upbeat, with investors hopeful that inflation would slow in the coming months,” he said in an e-mail.

The Bureau of the Treasury borrowed P35 billion through reissued 10-year T-bonds with a remaining life of nine years and 24 days on Tuesday, amid falling rates and supportive monetary policies here and overseas.  

Bids were oversubscribed 2.4 times at P84.24 billion, prompting the bureau to open its P10-billion tap facility amid strong demand.

Mr. Liboro expects yields to continue to move gradually lower. “Notwithstanding the upward pressure on global yields, the main driver locally will be inflation, which has shown signs of plateauing and will be likely to spur additional buying interest on local bonds over the coming months,” he added.

This week, all eyes will be on the Philippine central bank’s policy meeting on June 24.

BDO Unibank, Inc. Chief Market Strategist Jonathan L. Ravelas in a Viber message said he expects local benchmark interest rates to move sideways in the near term.

A BusinessWorld poll of 16 economists last week showed the BSP would probably keep its record-low policy rates to support economic recovery. — Lourdes O. Pilar

Style (06/21/21)

COS to open first Manila store this week

COS, the London-based fashion brand, will be opening its first store in the Philippines on June 25. Located at SM Aura Premier in Bonifacio Global City, the new COS store houses womenswear and menswear and will launch with the Spring Summer 2021 collection. Remaining aligned with the COS aesthetic, the store is designed in line with the brand’s core aesthetic of modern, timeless, and minimal design, with the use of sustainable materials.

Penshoppe taps Cha Eun-Woo for ‘The Conscious Generation’ Collection

LOCAL fashion brand Penshoppe champions eco-friendly fashion with the release of its newest “The Conscious Generation (TCG) Collection” featuring Cha Eun-Woo, a member of the K-pop group Astro. The TCG Collection features everyday wearable pieces fabricated from recycled PET bottles spun into yarns and blended with cotton. To promote the collection, Cha Eun-Woo has been photographed sporting the collection’s T-shirts, pullovers, trousers, bags, and caps, all of which are partially woven with what were once disposable plastic bottles. All TCG pieces come with a small QR Code design, which functions to let consumers know how the items were made and what the items were made of. The Conscious Generation Collection is now available on penshoppe.com, Shopee, Lazada, and Zalora. Meanwhile, Penshoppe has released its first limited edition Team Penshoppe Catalog featuring its global ambassadors of the year: BLACKPINK’s Lisa and Astro’s Cha Eun-Woo. Each 18-page catalog contains the two performers Penshoppe-exclusive photos, and fans can take their pick from three catalog versions. The catalog is included with a minimum single-receipt net purchase of P1,200 on penshoppe.com, and will be available in select Penshoppe stores starting June 25 until supplies last. For more information on the promo mechanics, visit penshoppe.com and watch the Team Penshoppe Catalog promotional video.

Ascot Chang offers promo in June, July

THE ICONIC brand Ascot Chang, known for its heritage of traditional Shanghai tailoring with a contemporary edge, and which offers bespoke tailoring, has a special promo in June and July. Shop Ascot Chang at Rustan’s and for every order of a custom Ascot Chang suit, buyers receive one complimentary Ascot Chang custom shirt. For every purchase of two bespoke shirts, customers receive one free shirt. The promo runs until July 31. Ready-made Ascot Chang blazers, pants, dress shirts and accessories are also now offered with discounts of up to 70% off. Call 0917-111-1952 to shop through Rustan’s Personal Shopper On-Call.

Zara Group holds end-of-season sale

THE ZARA End of Season Sale is here, available both in-store and online, with discounts of up to 50% off. From chic summer dresses, to denim shorts that pair with cute tees, or tropical print shirts, this Zara sale has hundreds of fashion staples on offer. The rest of the Zara Group brands — Massimo Dutti, Bershka, Stradivarius, and Pull&Bear — also have ongoing End of Season Sales. Zara has branches at Ayala Center Cebu, Glorietta 3, Greenbelt 5, Mega Fashion Hall, One Bonifacio High Street, Power Plant Mall, Shangri-la Plaza Mall, SM Mall of Asia, and TriNoma. Massimo Dutti has branches at Greenbelt 5 and Power Plant Mall. Stradivarius has branches in Glorietta 2, Megamall, Shangri-la Mall East Wing, and SM Aura Premier. Bershka has branches at Ayala Center Cebu, Glorietta 2, Mega Fashion Hall, Shangri-la Mall, and SM Mall of Asia. While Pull&Bear has branches at Ayala Center Cebu Mega Fashion Hall, and TriNoma.

New mask sheets focus on the derriere

GET CHEEKY WITH BUTTITUDE MASKS SHEETS

RUSTANS The Beauty Source launches Buttitude, a beauty mask brand that focuses on the derriere. The mask sheets are uniquely designed to smoothen, hydrate, and detoxify skin in one’s nether region. Made from all-natural, FDA-approved ingredients including citrus, lava seawater, and volcanic ash unique to Jeju Island, Buttitude is something different to try. With all these active ingredients present in each Buttitude sheet, the user can get rid of butt acne, roughness, and dry skin. There are three variants to choose from: Smoothing Butt Mask (orange), formulated with Jeju tangerines, it exfoliates skin while reducing the appearance of fine lines and wrinkles, and when used regularly, the mask also evens skin texture, restores elasticity, and brightens the bum cheeks; Hydrating Butt Mask (blue), a hydrogel sheet mask infused with moisturizing Jeju lava seawater that maintains the skin’s moisture balance, thus promoting elasticity and softness around the butt; and, Purifying Butt Mask (green), designed to clear clogged pores are clear acne through the use of Jeju volcanic ash, a cleaning ingredient that regulates the overproducing sebum pores in the skin while cleansing, exfoliating, and removing unwanted toxins. For best results, use the masks one to two times a week.

IKEA Philippines searches for magazine cover models

IN PREPARATION for the opening of the first store in Pasay City, IKEA Philippines is producing a magazine to share the brand’s milestones and inspiration to the Filipinos. IKEA will feature Filipino families or individuals on the cover and will be searching for a magazine cover model. The search to be on the cover of the magazine is open to all Filipinos. Five families or friends or individuals will be selected to be on the printed and/or digital cover of the magazine. Selected participants will also receive P30,000 worth of IKEA shopping vouchers. Entries to the search will be collected from June 15 to 30. Winners will be announced via IKEA Philippines Facebook page. For more information and to see full contest mechanics, visit the IKEA Philippines website, www.IKEA.ph.

Rimowa releases Never Still bag collection

RIMOWA has launched multi-use soft bag line, the Rimowa Never Still. The collection draws on the brand’s long history of rethinking the look and feel of travel meeting an evolving mobility landscape head-on. Made in Italy, this unisex collection consists of three products designed for a wide range of uses. Each features the marks of the iconic German luggage house such as modern timeless shapes, the Rimowa grooved design, bespoke hardware showcasing the brand’s monogram and logo, a flexible travel strap that allows customers to fix their bag onto their suitcase, a personalizable address tag, and a color palette that matches favorites from Rimowa’s Essential collection, including Black, Gray, Cactus, and Desert Rose. The Never Still Backpack and the Backpack Small have plenty of practical pockets both inside and out. Crafted out of premium canvas and lined with a tone-on-tone grosgrain fabric, the backpacks feature adjustable shoulder straps and either one or two front zip grooved leather exterior pockets with unique debossed grooves created exclusively for this collection. The Never Still Weekender is made in Italy from the collection’s signature premium canvas and leather. It has a spacious interior with two zipped compartments including a series of considered interior pockets that hold up to a 15” laptop, a mobile phone and more. The additional strap can be used to go hands-free for convenience on the go. The Rimowa Never Still collection is now available in the Philippines.

Cetaphil gives extra protection for sensitive skin

DERMATOLOGIST-recommended Cetaphil has a wide range of products formulated with gentle yet effective ingredients that are safe to use even on sensitive skin. With products that cover face and body skin needs, Cetaphil also offers protection against the five signs of skin sensitivity (dryness, irritation, roughness, tightness, weakened skin barrier). Cetaphil Sun is a lightweight, dermatologically tested and highly water-resistant face and body sunscreen suitable for sensitive skin. With its SP 50+ and UVA and UVB protection, Cetaphil Sun is good for daily use without leaving any white cast on the face. The Cetaphil Face line includes: Gentle Skin Cleanser, the cult favorite cleanser that’s formulated with micellar technology to gently yet effectively remove dirt, makeup, and impurities; Gentle Foaming Cleanser that softens as it cleans without stripping skin of its natural moisture balance; Daily Exfoliating Cleanser, a gentle cleanser that buffs away dry, dull, and dead skin cells; Hydrating Eye Cream-Serum, a powerful but lightweight creamy serum that helps improve and promote skin’s natural elasticity and firmness; Rich Hydrating Night Cream with Hyaluronic Acid, a nighttime cream clinically proven to provide intense hydration for 24 hours without irritating the skin. Cetaphil Body includes: Ultra Gentle Body Wash, a fragrance-free body wash containing hydrating pro Vitamin B5 and Aloe Vera extract; Deep Cleansing Bar, a hypoallergenic cleanser; Antibacterial Bar, a mild antibacterial non-soap cleansing bar; Moisturizing Lotion, a fast-absorbing lotion that enhances skin’s natural moisture; and Moisturizing Cream, a rich cream that provides 24-hour hydration. Cetaphil Sun, Face, and Body products are available in Mercury Drug and Watsons stores nationwide, as well as via online at the official Cetaphil Philippines stores in Lazada and Shopee.

Great gift suggestions for your car-loving dad


AUDI SPORT ZIP-OFF JACKET
Audi Sport, the Ingolstadt-headquartered automaker’s high-performance division, lends its insignia to this jacket that is perfect for wet weather. Audi said this is “perfect for a Le Mans outing.”

PGA CARS, local distributor and service provider of Audi, Bentley, Lamborghini, and Porsche automobiles, trots out a procession of lifestyle items from these iconic car companies that any car-crazy father will most definitely fall for. Father’s Day may have come and gone, but it’s still fairly close enough to warrant getting an additional gift for your pops. And in case you actually forgot to score him a present, we’re pretty sure he’ll forgive you if you get any of these below.

“Get him some awesome stuff not found in malls but rather from the car showrooms he loves,” underscored PGA Cars in a release.

• AUDI

 

• BENTLEY

• LAMBORGHINI

• PORSCHE

For more information on the products, call +632 8727-0381 to 85.

Profit taking pulls down Ayala Land stock price

PROFIT taking drove much of Ayala Land, Inc.’s stock activity last week.

Ayala Land was the third most actively traded stock last week with P2.47-billion worth of 67.37 million shares having exchanged hands on the trading floor during the week from June 14 to 18, data from the Philippine Stock Exchange (PSE) showed.

Ayala Land shares closed at P36 apiece on Friday, down 6% from the June 11 close of P38.3 per share. Year to date, the stock has gone down by 14.3%.

“Ayala Land declined as selling pressure picked up due to profit taking. It has gained 23% in the last four consecutive weeks, said AAA Southeast Equities, Inc. Head of Research Christopher John A. Mangun in an e-mail.

Regina Capital Development Corp. Equity Analyst Anna Corenne M. Agravio shared a similar assessment: “Ayala Land’s fundamentals are solid despite the pandemic-related shocks to profit, so the recent selldown was likely caused by a technical correction. Naturally, a lot of investors would secure their profits after continuous week-on-week gains,” she said in a separate e-mail.

Ms. Agravio noted news of property firms’ plans of listing of their REITs (real estate investment trust) did little to affect Ayala Land’s share price as the property subindex was sold down during the latter half of last week.

REITs allow investors to earn dividends from specific revenue-generating properties of developers. There are currently five real estate firms that look to tap REITs for raising funds, with two having already been listed in the PSE — Ayala Land’s AREIT, Inc. and DoubleDragon Properties Corp.’s DDMP REIT, Inc.

Last week saw Megaworld Corp. announce putting 10 of its office, retail, and hotel assets into a REIT that looks to sell up to P27.3-billion worth of shares in an initial public offering.

A week earlier, Ayala Land has executed the deed of exchange for the property-for-share swap transaction with AREIT, Inc. The transaction will issue Ayala Land and its subsidiaries, Westview Commercial Ventures Corp. and Glensworth Development, Inc., 483,254,375 primary common shares of AREIT at P32 apiece in exchange for Ayala Land’s properties valued at P15.46 billion altogether. The shares will be sourced from AREIT’s authorized capital stock, which it seeks to raise to P29.5 billion from P11.74 billion, pending approval from the Securities and Exchange Commission.

The transaction will expand AREIT’s portfolio to 549,000 square meters (sq.m.) from 344,000 sq.m., as its deposited property value will also increase to P52 billion from P37 billion. This will also bump up Ayala Land’s ownership in AREIT to 66% from 50.1%.

The properties in the property-for-share swap include the following: Vertis North Commercial Development, Evotech Buildings 1 and 2, Bacolod Capitol Corporate Center, Ayala Northpoint Technohub, and office condominium units at BPI-Philam Life Buildings in Makati and Alabang. 

The week of the announcement saw Ayala Land’s share price go up 5.22% on a week-on-week basis to P38.3 on June 11. It later fell by 6% to P36 per share last Friday from the previous week with most market players choosing to take profits on the stock.

Latest financial statements show Ayala Land’s attributable net income went down by 36% year on year to P2.8 billion in the first quarter, as revenues slipped by 13% to P24.6 billion.

Property development revenues fell 6% to P16.2 billion, while commercial leasing revenues slumped by 41% to P5.1 billion as operations of malls, hotels and resorts remain restricted. Residential sales reservations jumped 15% to P28.5 billion, as Ayala Land reported robust local demand.

“The biggest drag on Ayala Land is the lack of mall traffic. The easing of restrictions will definitely be positive for their retail leasing operations,” AAA Southeast Equities’ Mr. Mangun said.

For Regina Capital’s Ms. Agravio, Ayala Land is moving towards a “V-shaped” recovery.

“While its malls will still be under a lot of pressure, given the mobility restrictions related to the pandemic, its property development revenues are expected to recover more quickly. Sales reservations and launches were already up in [first quarter] on a year-on-year basis,” she said.

Ms. Agravio placed Ayala Land’s support and resistance levels at P35 and P38.3 per share, respectively.

Meanwhile, AAA Southeast Equities’ Mr. Mangun pegged the stock’s primary and secondary support price levels at P35.7 and P33.8, respectively, while its primary and secondary resistance price levels are at P38.35 and P42. — N.M.A. Bo

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