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

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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.

Quasi-banks swing to profit in 1^st quarter

June 22, 2021 | 12:01 am

THE QUASI-BANKING industry booked net earnings worth P52 million in the first quarter as investment houses bounced back and financing companies recorded lower losses.

The sector’s performance in the first three months of the year was a turnaround from the P195-million net loss it booked in the same quarter in 2020, central bank data showed.

By type of nonbanks with quasi-banking functions (NBQBs), investment houses turned in a net profit of P66 million in the first quarter versus the P644-million loss seen in the same period last year.

Meanwhile, BSP-supervised financing companies recorded a lower net loss of P13 million versus the P449 million seen a year ago.

The net interest income of NBQBs dropped by 38.2% to P1.497 billion in the first quarter from P1.879 billion last year. Interest earnings declined by 67% to P107 million, while interest expense slipped by 6% to P1.543 billion.

Broken down, investment houses logged a net interest income of P16 million, down by 82.8% year on year.

On the other hand, net interest earnings of financing companies went down by 17% to P1.48 billion. This, as interest and leasing income dropped by 6% and 10% to P90 million and P2.933 billion, respectively.

Meanwhile, the non-interest earnings of NBQBs stood at P517 million in the first quarter, a reversal of the P319-million loss seen a year ago. This was driven by its fee-based income, which more than doubled (125%) to P488 million from P217 million. Trading losses also dropped by 59% to P61 million from P149 million.

Bad debts written off by financing companies declined by 21.3% to P96 million, while their provisions surged by 132% to P613 million.

Operating expenses of NBQBs stood at P1.836 billion in the three-month period, higher by 12% year on year. Broken down, financing companies’ expenses rose by 29% to P1.786 billion, while investment houses spent 80% less than a year ago at P51 million. — LWTN

How PSEi member stocks performed — June 21, 2021

June 22, 2021 | 12:00 am

Here’s a quick glance at how PSEi stocks fared on Monday, June 21, 2021.

Philippines raises score on Global Peace Index

June 22, 2021 | 12:00 am

PSEi drops on profit taking, higher virus cases

June 21, 2021 | 9:00 pm

STOCKS started the week in the red as investors took profits amid the increase in coronavirus disease 2019 (COVID-19) cases and as the shift in the US Federal Reserve’s rate hike expectations continued to affect sentiment.

The Philippine Stock Exchange index (PSEi) went down by 24.21 points or 0.35% to close at 6,827.17 on Monday, while the all shares index lost 12.16 points or 0.29% to end at 4,154.74.

“The local bourse declined this Monday, together with its regional peers, as the latest developments with the Federal Reserve continued to weigh on investor sentiment,” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message.

Fed officials last week moved their first projected rate increases from 2024 into 2023, with 13 of 18 policy makers foreseeing a “liftoff” in borrowing costs that year and 11 seeing two quarter-percentage-point rate increases, Reuters reported.

“For today’s session, the market briefly fell back to the 6,700-level but managed to cut losses,” AB Capital Securities, Inc. Junior Equity Analyst Lance U. Soledad said in a Viber message on Monday.

“The market started the week with losses on increased selling pressure amid elevated new COVID-19 cases, although our market did much better than its Asian peers which suffered serious losses, similar to what happened to US equities markets last Friday,” AAA Southeast Equities, Inc. Research Head Christopher John Mangun said in an e-mail.

All sectoral indices closed in the red on Monday except for property, which gained 38.78 points or 1.17% to end at 3,332.08.

Meanwhile, holding firms declined by 96.39 points or 1.39% to 6,839.94; mining and oil shed 108.02 points or 1.16% to 9,203.02; industrials went down by 44.95 points or 0.48% to 9,319.08; services gave up 7.42 points or 0.47% to end at 1,551.23; and financials lost 0.91 point or 0.06% to finish at 1,490.49.

Value turnover decreased to P5.86 billion with 2.43 billion shares switching hands on Monday, from the P9.8 billion with 2.25 billion shares traded on Friday.

Decliners outnumbered advancers, 138 versus 64, while 50 names closed unchanged.

Foreigners logged P238.45 million in net purchases on Monday versus the P856.75 million in net selling recorded on Friday.

For today, analysts expect progress in the vaccination program to affect investor sentiment after the government secured 40 million doses of the COVID-19 jab made by Pfizer, Inc. and BioNTech SE, with delivery expected to begin in late September.

“We expect the deal signed between the government and Pfizer to provide [a] sustained appetite for bargain hunting despite continued profit taking,” AB Capital Securities’ Mr. Soledad said.

He said he expects the index to end between 6,800 to 7,000 today.

Philstocks Financial’s Mr. Tantiangco also said he expects an uptick on Tuesday due to bargain hunting ahead of the Bangko Sentral ng Pilipinas’ policy meeting. — K.C.G. Valmonte

Peso sinks on Fed’s hawkish shift

June 21, 2021 | 9:00 pm

THE PESO depreciated versus the greenback on Monday as players remained cautious after the US Federal Reserve hinted at a possible tightening of its easy monetary policy.

The local unit closed at P48.695 per dollar on Monday, sinking by 26.5 centavos from its P48.43 finish on Friday, based on data from the Bankers Association of the Philippines.

The peso opened the session at P48.48 versus the dollar. Its weakest showing was at P48.725, while its intraday best was at P48.48 against the greenback.

Dollars traded reached $1.338 billion on Monday, higher than the $1.071 billion seen on Friday.

The peso sank following hints from Fed officials that the US central bank could hike rates sooner rather than later, a trader said.

“The peso depreciated significantly as market participants continued to move from the unexpected hawkish shift of the US Federal Reserve,” the trader said.

US central bank officials moved their first projected rate increases to 2023 from 2024, with 13 of 18 policy makers foreseeing a “liftoff” in borrowing costs that year and 11 expecting two quarter-percentage-point rate increases. Meanwhile, seven of the officials are even pricing higher rates as early as next year.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said losses at the stock market also affected the peso.

The Philippine Stock Exchange index shed 24.21 points or 0.35% to end at 6,827.17 on Monday.

For Tuesday, the trader gave a forecast range of P48.50 to P48.70 per dollar, while Mr. Ricafort said the local unit could move between P48.60 and P48.80.

Palace says over P18 billion in Bayanihan II funds available

June 21, 2021 | 8:14 pm

Roque-Philstar — PHILIPPINE STAR/ JOVEN CAGANDE

THE PALACE confirmed Monday that over P18 billion from the second stimulus package, known as Bayanihan II, remains unused, following calls by senators to spend the hundreds of billions of pesos allotted for the pandemic response measure before it expires this month.

“Mayroon pa tayong P18.4 billion or 13% na hindi pa nao-obligate (We have P18.4 billion or 13% which has yet to be obligated),” the President’s spokesman Herminio L. Roque, Jr. said at a televised news briefing Monday.

Legislators have urged the executive branch to spend the remainder of Bayanihan II, authorized by Republic Act No. 11519 or the Bayanihan to Recover as One Act, which expires on June 30.

Budget Secretary Wendel A. Avisado said “agencies can utilize” the unobligated funds “at the end of the month.” He said about P123 billion has been obligated under Bayanihan II.

“Overall, including releases charged against the Fiscal Year 2020 General Appropriations Act, about P200.12 billion has been released for Bayanihan II. Obligations amounted to P172.28 billion (86.09%) and disbursements at P135.81 billion (78.83%),” he told reporters in a Viber message.

Mr. Roque said the executive branch will respect the wishes of Congress should it decide to extend the validity of Bayanihan II.

“We respect the wisdom of Congress dahil sila naman po talaga nagbibigay ng polisiya (because they determine spending legislation),” he said.

Mr. Roque said he has yet to receive any information on whether President Rodrigo R. Duterte will call for a special session to extend the law’s validity. — Kyle Aristophere T. Atienza

Manila Water wins indigenous people consent for Antipolo treatment plant

June 21, 2021 | 8:14 pm

MANILA WATER Co., Inc. said it obtained consent from indigenous people to build and operate the Wawa-Calawis Water Treatment plant on ancestral land in Antipolo.

The company signed a memorandum of agreement with the National Commission on Indigenous Peoples (NCIP) and Katutubong Pamayanan ng mga Dumagat/Remontado as part of the “Free, Prior, and Informed Consent” process to build the plant in the ancestral domain of the Antipolo Dumagat-Remontado.

The free, prior, and informed consent process in international human rights protects indigenous participation in decision-making for projects that affect them.

The partnership is the company’s first agreement with construct and operate provisions done with the NCIP, Manila Water said in a statement Monday.

“These provisions will open job opportunities for the IP community during the construction of the facilities in the area and even during operation of the plant,” the company said.

Through the deal, the east zone water concessionaire will build the first phase of the Calawis treatment plant and the second phase of the Wawa treatment plant.

The project will address water demand in Antipolo and Teresa in Rizal province.

Razon-controlled Prime Infrastructure Holdings Corp. recently strengthened its presence in the water market after its Trident Water Co. Holdings, Inc. acquired a controlling stake in Manila Water.

Trident Water now has 51% voting interest in Manila Water while its economic stake is at 25%. Ayala Corp.’s direct and indirect economic interest in the water concessionaire is at 38.6%, while its voting interest is at 31.6%.

Manila Water provides water and wastewater services in eastern Metro Manila, which includes Marikina, Pasig, Taguig, Makati, San Juan, Mandaluyong, parts of Quezon City and Manila, and Rizal province. — Jenina P. Ibañez

LRT-2 East Extension opening postponed

June 21, 2021 | 8:13 pm

COMMUTER TRAIN operator Light Rail Transit Authority (LRTA) announced Monday the postponement of the opening of the Light Rail Transit Line 2 (LRT-2) East Extension Project from June 22 to next month.

“We regret to inform the riding public that the long-awaited opening of the… LRT-2 East Extension Project was postponed for at least two weeks to give maximum time for the contractor to complete the signaling migration and integration works, and other preparatory activities,” LRTA Administrator Reynaldo I. Berroya said in a statement.

The East Extension Project adds four kilometers to the 13.8-kilometer LRT-2 train line, connecting it to Antipolo City.

With the inauguration ceremony now set for July 5, the Marikina and Antipolo stations are due to open to passengers the following day.

The LRTA said the pandemic restricted the arrival of foreign technical experts in signaling systems and some critical equipment necessary to conduct the integration activity and monitor the compliance of the project with Railway Safety International Standards.

“The signaling system is vital in railway operations to ensure safe and smooth train and traffic movement, controlled speed, accurate platform position, safe distance between trains, automatic stop in cases of technical breakdown and is designed in accordance with railway fail-safe principles,” it said.

The extension project aims to reduce the travel time between Manila and Antipolo from three hours to 40 minutes.

It is expected to add 80,000 passengers to the current 240,000 daily ridership of the LRT-2, which currently connects Recto Avenue in Manila to Santolan station in Marikina.

Mr. Berroya said the LRTA and the Department of Transportation (DoTr) had agreed that safety should be issued first before starting operations.

“We at LRTA and DoTr are always committed to provide our passengers with a safe, reliable, and comfortable journey,” he added.

He also appealed for “understanding and cooperation” as the integration of the signaling system of the two new stations to the current system “will require a shutdown of… operations from Santolan to Recto for two consecutive weekends from June 26 to 27 and from July 3 to 4 for the smooth implementation of the activity.”

“For the meantime, LRT-2 full operations from Santolan to Recto and vice versa will resume on Wednesday, 23 June 2021 after the need to implement degraded operations from June 12 to 22,” the LRTA said. — Arjay L. Balinbin

China-funded Estrella-Pantaleon Bridge now 93% complete

June 21, 2021 | 8:13 pm

THE Department of Public Works and Highways (DWPH) said Monday the China-funded Estrella-Pantaleon Bridge project, which connects the cities of Makati and Mandaluyong, is now 93% complete.

“Only a few activities” are left before the new bridge opens next month, Public Works and Highways Secretary Mark A. Villar said in a statement.

“Concreting of approach road on both sides of Makati and Mandaluyong will complete the links with the finished main and approach bridge,” Undersecretary for Unified Project Management Office Operations Emil K. Sadain said.

The P1.46-billion bridge project “will have four lanes and will be a 506.46-meter pre-stressed concrete rigid frame bridge with corrugated steel webs, replacing the temporary two-lane box truss bridge made of modular steel components dismantled in 2019,” the department noted.

The bridge project is one of two grant bridges — the other one is Bonifacio Global City’s Lawton-Sta. Monica Bridge — from China being implemented by the department.

“Other remaining ancillary works to complete the stunning bridge project with V-shape piers include asphalt overlay; and installation of lane markings, protective barriers and railings along both sides of the bridge, pipes for the storm water drainage structure, and lighting,” it added.

The project is among the 14 agreements signed during Chinese Premier Li Keqiang’s state visit to Manila in November 2017.

Once completed, the new bridge is expected to accommodate about 50,000 vehicles daily. — Arjay L. Balinbin