Townhouse, duplex villas offered in Southwoods City

February 18, 2020 | 12:06 am

GLOBAL-ESTATE Resorts, Inc.’s new residential project features two-storey townhouses and duplex villas within the Pahara residential village in Southwoods City.

In a statement, the subsidiary of Megworld Corp. said Upland Villas will have 65 units, composed of townhouses and duplex villas in modern and tropical architecture.

Units will have living and dining areas, kitchen, maid’s room, common bathroom, and a lanai on the ground floor, and bedrooms and bathrooms on the second floor. Each unit gets a two-slot carport.

“Set within the exclusive enclave on the hills of Southwoods City, Upland Villas is a unique residential offering where one can relax and enjoy the beauty of its natural surroundings. More importantly, since we have easily sold out the lots of Pahara, this is an opportunity to own a property within this sought-after village inside Southwoods City,” Rachelle Peñaflorida, vice president for sales and marketing, Megaworld Global-Estate, Inc., said.

Upland Villas unit owners have access to the Pahara Clubhouse and amenities, such as a swimming pool, fitness center, jogging paths, children’s playground, multi-purpose function area, yoga and reflexology garden, meditation and aromatic gardens as well as landscaped open spaces.

Residents can also enjoy the surrounding flower and herb gardens.

Upland Villas is expected to be completed in 2024.

The 561-hectare Southwoods City is located at the boundaries of Biñan, Laguna, and Carmona, Cavite.

Gov’t makes full award of T-bills as investors flock to safe havens

February 18, 2020 | 12:06 am

THE GOVERNMENT fully awarded the Treasury bills (T-bills) it offered on Monday as rates declined across-the-board, also opening its tap facility to sell more one-year papers amid strong demand.

The Bureau of the Treasury (BTr) raised P20 billion in T-bills yesterday after its offer was almost four times oversubscribed, with total bids reaching P78.3 billion.

Broken down, the government accepted P6 billion via the 91-day papers as planned from total bids of P21.798 billion. The three-month papers fetched an average rate of 3.072%, down by 4.3 basis points (bps) from the 3.115% quoted in the auction last week.

The Treasury raised another P6 billion as programmed via the 182-day papers from total tenders amounting to P20.792 billion at an average rate of 3.42%, which was 4.1 bps lower than the 3.461% yield last week.

For the 364-day T-bills, the government accepted P8 billion as planned at an average rate of 3.836%, also lower by 7.2 bps from the 3.908% fetched the previous week.

Following the auction, National Treasurer Rosalia V. de Leon said they opened the tap facility to offer another P8 billion in one-year T-bills to accommodate the strong demand for the tenors, which reached a total of P35.755 billion yesterday.

At the secondary market’s close on Monday, the 91-, 182- and 364-day T-bills fetched rates of 3.181%, 3.433% and 3.889%, respectively.

“Going into the auction, it is the result of, first, the lingering concerns on COVID-19 (coronavirus disease 2019), of course, we’ve seen rates going down from the revision of the outlook of Fitch [Ratings] from stable to positive,” Ms. De Leon told reporters after the auction on Monday.

A bond trader said the lower rates fetched for the T-bills at the auction were within expectations as the market continues to have strong demand for the short tenors.

“Also, the market got excited again because of the pronouncement of BSP (Bangko Sentral ng Pilipinas) Governor Benjamin E. Diokno for another rate cut in the second quarter. I think those are the expectations. They see the flight to safe havens, and of course that’s the Treasury bonds. So we are seeing that our liquidity is going back to government securities market.

Mr. Diokno said last week that the central bank may cut rates by another 25 bps as early as the second quarter to shield the economy from the effects of the COVID-19 outbreak and as it continues to dial back the 175 bps worth of hikes done in 2018.

The BSP’s policy-setting Monetary Board will have its second rate-setting meeting for the year on March 19. At its meeting on Feb. 6, it already reduced benchmark interest rates by 25 bps.

The rates on the BSP’s reverse repurchase, overnight lending and deposit facilities now stand at 3.75%, 4.25%, and 3.25%, respectively.

Last year, the central bank eased policy rates by a total of 75 bps amid slowing inflation.

DOMESTIC BORROWINGS
Meanwhile, Ms. De Leon said they are focusing on domestic borrowings right now as they are still monitoring the global bond market amid the virus outbreak.

“Given lingering concerns on the outbreak, I think it is still very tepid for the moment in terms of other issuances. But we’re seeing US Treasuries go down… [we might do other offshore issuances] kapag medyo na-reduce na ’yung concerns sa COVID-19 (when concerns over COVID-19 subside)… We can still tap the onshore peso [market],” Ms. De Leon said.

The Treasury has set a P420-billion local borrowing program this quarter, broken down into P240 billion in T-bills and P180 billion via Treasury bonds. — BML

SM Prime malls, residences drive 18% profit rise

February 18, 2020 | 12:06 am

EARNINGS of SM Prime Holdings, Inc. in 2019 rose 18% to P38.1 billion, driven by the sustained growth of its mall and residential network across the country.

In a statement Monday, the Sy-led property developer reported double-digit growth in its consolidated net income amid a 17% increase in its consolidated operating income to P56.7 billion.

The company’s total revenues last year also climbed 14% to P118.3 billion, fueled by the robust growth of its mall operations and residential developments.

By business segment, revenues from SM Prime’s mall business increased 8% to P57.8 billion, coming from a 7% same-mall-sales growth across its network. Same-mall-sales growth is SM Prime’s measure of growth in its existing malls.

Sales from cinema and event tickets also climbed 6% to P5.5 billion last year, while revenues from amusement, merchandise sales and others grew 15% to P3.9 billion.

SM Prime closed the year with 74 malls in the Philippines totaling 8.5 million square meters of gross floor area (GFA), and seven malls in China with 1.3 million square meters of GFA.

The residential business of SM Prime, which is handled by SM Development Corp. (SMDC), saw a 24% jump in revenues to P45.2 billion. This came from a 17% increase in consolidated costs of real estate sales to P20.8 billion and a 39% rise in operating income to P17.1 billion.

The company traced the growth to higher construction accomplishments in its projects last year, further boosted by the fast take-up of its ready-for-occupancy projects in Pasay City and Makati City.

SMDC closed the year with P90 billion in reservation sales, a 24% rise from a year ago. This translates to an 11% increase in unit sales to 23,424 units.

Other business segments had a combined revenue of P9.6 billion last year, up 14% year-on-year. This includes revenues from SM Prime’s Commercial Properties Group and SM Hotels and Convention Centers, which grew due to the full-year contribution of ThreeE-Com Center office building in Pasay City and the opening of NU Mall of Asia and Park Inn by Radisson hotels in Iloilo and Quezon City last year.

By the end of 2019, SM Prime had 12 office buildings with a GFA of 695,000 square meters, eight hotels with more than 1,900 rooms, four convention centers and three trade halls.

“SM Prime’s continuous growth was brought about by our strategic expansion in the country’s developing cities. We look forward to 2020 as we strengthen our presence in more key areas in the Philippines through sustainable integrated property developments that have great potential to further contribute to the growth of the overall economy,” SM Prime President Jeffrey C. Lim was quoted as saying in the statement.

For 2020, SM Prime is scheduled to open three to five new malls in key provincial cities, along with 15,000 to 20,000 residential units varying from high-rise and mid-rise buildings and single detached house and lot projects.

It is also targeting to launch the first tower and podium of FourE-Com Center in Pasay City, translating to 110,000 square meters of additional GFA. It will open a Park Inn by Radisson hotel in Bacolod and expand the Park Inn by Radisson in Clark within the year, along with the opening of SMX Clark and Olongapo City Convention Center.

Shares in SM Prime at the stock exchange were flat at the close of Monday’s trading at P41.70 apiece. — Denise A. Valdez

Embattled R. Kelly accused of sex with teen in 1990s

February 18, 2020 | 12:06 am

SINGER R. Kelly, already facing trial in three states on sexual abuse, child pornography, kidnapping, and obstruction of justice charges, has been hit with an updated indictment in Chicago stemming from a newly identified victim, court documents showed on Friday.

The superseding indictment, filed in US District Court in Chicago, identifies the latest accuser only as “Minor 6” and charges Kelly, 53, with engaging in sexual acts with her in the late 1990s, when she was 14 or 15 years old.

The new charges also seek forfeiture of assets from the Grammy-winning R&B performer’s production company and a separate firm owned by his manager Derrel McDavid, a co-defendant in the Chicago case.

A victim previously included in the indictment and known as “Minor 2” was removed from the charging documents for reasons that were not made clear.

“We are aware of the superseding indictment. We continue to fight for him and look forward to the day he is free #notguilty #rkelly,” the entertainer’s criminal defense lawyer, Steve Greenberg, said on Twitter.

“The superseding indictment was expected and does not change our position. We look forward to taking this matter to trial,” McDavid’s attorney, Vadim Glozman said.

Kelly has pleaded not guilty to all criminal charges filed against him in New York, Illinois, and Chicago.

The entertainer, best known for such hits as “I Believe I Can Fly” and “Bump N’ Grind,” has faced sexual abuse allegations dating back more than two decades. Some of those accusations were detailed in a Lifetime documentary, Surviving R. Kelly first broadcast in January 2019.

Federal prosecutors in New York have also charged Kelly with running a criminal scheme in which women and underage girls were recruited to have sexual activity with him.

In that case Kelly is accused of bribing an Illinois official in August 1994 to obtain a fake identification for the singer Aaliyah so they could get married.

Kelly was then 27 and Aaliyah was 15, but according to published reports their marriage license listed Aaliyah’s age as 18. The marriage was annulled in 1995. Aaliyah died at age 22 in a 2001 plane crash in the Bahamas.

Prosecutors in the Chicago case charged Kelly last July with engaging in sex acts with five minors, recording some of the alleged abuse on video, and using threats to keep victims quiet.

Kelly was also charged last February by Illinois state prosecutors with aggravated sexual abuse, and last August by Minnesota state prosecutors with soliciting sex from a minor.

In 2008, Kelly was acquitted at trial on state child pornography charges in Illinois. — Reuters

Megawide, 8990 Holdings break ground for new Cubao condominium

February 18, 2020 | 12:05 am

MEGAWIDE Corp. and 8990 Holdings, Inc. last week broke ground for a new condominium project in Cubao, Quezon City.

“We are proud to be working with 8990 Holdings, Inc. on their latest project, Urban Deca Towers Cubao. We are grateful for their continued trust in Megawide and we are committed to providing first-world construction solutions to meet their standards,” Eric Tan, Megawide deputy head of construction, said in a statement.

Urban Deca Towers Cubao is a 45-storey building with 2 basement levels, and will have both commercial and residential units. It is located on EDSA corner Mayor Ignacio Santos Diaz St., within close proximity to the MRT-3 Cubao Station and LRT-2 Araneta Center Cubao Station.

Mr. Tan said Urban Deca Towers Cubao will be built mainly with Megawide’s proprietary precast and formworks technologies.

Megawide and 8990 have also worked together on Urban Deca Homes Ortigas, which marked a milestone as it recently topped off the first building of its 22-tower residential condominium development.

Urban Deca Homes Ortigas is located on a 13-hectare property along Ortigas Avenue Extension, Barangay Rosario, Pasig City.

8990 Chairman Mariano D. Martinez said this is the developer’s largest project so far.

Once completed by 2024, the development will have a total of 19,046 units. The condominiums have two-bedroom and three-bedroom units ranging 35.57 square meters (sq.m.) to 42.07 sq.m.

“We want to make commuting easier for them as this is conveniently located near business establishments and even schools so it’s ideal for young professionals and small families,” Mr. Martinez said.

ICTSI transfers 30% stake in Papua New Guinea subsidiary to two community landowner groups

February 18, 2020 | 12:05 am

INTERNATIONAL Container Terminal Services, Inc. (ICTSI) said its unit in Lae, Papua New Guinea recently completed the transfer of 30% of its share to two local communities in the island country.

In a disclosure to the stock exchange on Monday, ICTSI said its subsidiary, ICTSI South Pacific Ltd. (ISPL), which owns 100% of South Pacific International Terminal Ltd. (SPICTL), forged agreements with community landowner groups Ahi Terminal Services Ltd. and Labu investment Ltd.

The agreement is for both Ahi and Labu to each acquire 15% stake of SPICTL.

“The signing of the agreements completes the transfer of the 30% of SPICTL to the local communities in compliance with the Terminal Operating Agreement,” ICTSI said.

To recall, ICTSI signed in 2017 an agreement with Ahi and Labu to establish a collaborative framework” in support of the port project in Lae.

ICTSI has 25-year concession agreements to operate ports in Lae and Motukea.

SPICTL would handle the deployment of cranes and other equipment at Port of Lae, the largest container handling facility in Papua New Guinea. Lae is the second largest city in the country.

Under the subscription and shareholders agreement between ICTSI and the two community landowner groups, Ahi and Labu would each have a 15% share subscription in SPICTL.

SPICTL would also hire workers from Ahi and Labu, as well as undertake projects to benefit host communities.

The company, led by tycoon Enrique K. Razon, Jr., reported 29.4% increase in its net income attributable to equity holders to $184.86 million for the nine months to September 2019. — Arjay L. Balinbin

BDO Leasing to appeal RS suspension with SEC

February 18, 2020 | 12:05 am

BDO UNIBANK, Inc.’s leasing subsidiary will appeal the decision. — *BW FILE PHOTO*

BDO LEASING and Finance, Inc. (BDOLF) will appeal the suspension of its registration statement (RS) with the Securities and Exchange Commission (SEC) after this was flagged for being “materially incomplete and inaccurate.”

This comes after parent bank BDO Unibank, Inc. sold its controlling stake in BDOLF to third parties and the revisions in BDOLF’s primary business to become a holding company.

In a filing with the local bourse on Monday, the leasing and financing arm of Sy-led BDO Unibank, Inc. said it wants to engage the SEC for a reconsideration of the regulator’s decision as soon as possible.

“BDOLF believes that there are no sufficient grounds for the suspension of its Registration Statement (RS),” it said, noting it has been transparent and timely with reporting material transactions.

“The protection of minority shareholders has always been considered by BDOLF. In particular, minority shareholders are vested with appraisal rights and the Mandatory Tender Offer will allow them to sell their shares at a premium,” BDOLF said.

Last week, the SEC’s Markets and Securities Regulation Department (MSRD) ordered the suspension of BDOLF’s registration statement, saying the information in the document has become “materially incomplete and inaccurate” after the company sold a controlling stake to third parties.

“The MSRD finds that the suspension of the RS is consistent with public interest and protection of investors as the RS is materially incomplete and inaccurate, and, if left unchecked, would tend to work a fraud on investors,” the SEC said on Feb. 14.

It cited that Rule 14 of the 2015 Implementing Rules of the Securities Regulation Code that an amended RS is needed to be filed with the SEC in circumstances such as a major change in the primary business of the issuer; reorganization of the company; or an increase in risk on the investment or on the securities covered by the registration.

Last month, BDO said it entered into an agreement to sell its equity stake worth 88.54% of BDOLF for about P5.451 billion as part of the restructuring of its leasing business. — LWTN

Second in romantic trilogy revolves around communication problems

February 18, 2020 | 12:05 am

IN A LOT of ways, To All the Boys 2: I Still Love You, is a set up before the big reveal that is the third movie in the series. The latest movie in the John Hughes-inspired romantic comedy series starring Lana Condor and Noah Centineo showed how the new couple navigates through their new relationship while semi-dealing with each of their issues.

Semi-dealing, because for people who have read the novels by Jenny Han, the show is a cute intermission piece for what happens in the third book.

The third film in the series, To All The Boys: Always and Forever, Lara Jean was shot back-to-back with the second film.

“My whole thing for the sequel is like I want her to use her voice better and I wanted her to take up more space. I think [in the sequel] she is not as alone — she has more supportive friends and family and the way she holds herself a little bit more upright,” Ms. Condor told the media during a video conference on Feb. 13.

(The video conference was held in lieu of the press tour and fan meet for the film which were cancelled because of the COVID-19 virus outbreak.)

She’s right: the first few scenes we see of Lara Jean Covey is her reveling in her new relationship with Peter Kavinsky, set to the tune of The Crystal’s “Then He Kissed Me.” She is walking confidently in the hallways of her school and is incredibly supportive of her friends, Chris and Trevor, dating.

But while the film is chockful of the romantic moments — the first date, the first kiss, and a paper lantern promise — which is expected of the genre, it also highlights that the foundations on which Lara Jean and Peter’s relationship is built on are not as solid as they think.

(Mild spoilers ahead.)

She may have found confidence but deep inside, Lara Jean is still insecure, especially with Peter starts hanging out with his ex, Gen. Her insecurities about the relationship lead her to grow closer to John Ambrose, one of the boys who had received her love letters.

Ms. Condor noted that what John Ambrose afforded Lara Jean was comfort and calm while Peter gives her passion and excitement.

But like any self-respecting John Hughes tribute, the conflicts turn out to be due to communication issues.

“Just be honest about where you’re coming from, and about what you’re dealing with in the moment with your significant other, you know, most things can be sorted or ironed out with communication,” Mr. Centineo said in the video conference.

Mr. Centineo said that Peter was not without faults as he is someone who is wont to pretend that something is okay when it isn’t and that is something he needs to grow out of.

“When I first watched the movie, I wanted to scream at Lara Jean… I do understand as a young person I understand her having a hard time [communicating and being honest with yourself and with others], but I definitely was screaming at the screen like ‘just say something’!” Ms. Condor said.

But despite the misgivings of both Peter and Lara Jean, Ms. Condor assured the press that while Lara Jean grow a lot in the sequel, “ultimately it’ll be most fulfilling when you watch the third movie.”

“She really comes fully into her own in the third movie,” she said.

For all its teenage angst, To All the Boys 2 presents the Korean concept of jung or jeong, or the unbreakable connection between people even when love turns to hate. Oh, and that we all need a fairy grandmother like Stormy (Holland Taylor).

To All The Boys 2: I Still Love You is directed by Michael Fimognari and is available on Netflix. — Zsarlene B. Chua

PBoC cuts rate for loans

February 18, 2020 | 12:04 am

THE People’s Bank of China cut the rate for one-year loans to support banks. — *WIKIPEDIA.ORG*

CHINA’S CENTRAL BANK provided medium-term funding to commercial lenders and cut the interest rate it charges for the money, a move widely anticipated by analysts to cushion the economy from the virus epidemic.

The People’s Bank of China (PBoC) offered 200 billion yuan ($29 billion) of one-year medium-term loans on Monday. The rate was lowered by 10 basis points to 3.15%, the lowest since 2017. The central bank also added 100 billion yuan of funds via 7-day reverse repurchase agreements, resulting in a net 700 billion yuan withdrawal of money from markets as some 1 trillion yuan of reverse repos matured on Monday.

The rate reduction is “in line with expectations, while the injection amount is relatively small as interbank funding is sufficient after the new year,” said Zhou Guannan, an analyst at Huachuang Securities Co. in Beijing. Zhou expects additional medium-term lending facility funding to be supplied in March.

Since the outbreak of the coronavirus worsened in late January, China’s central bank and government have announced small rate cuts, early bond sales, and various other targeted measures to calm financial markets and support companies. So far, there’s not been a massive increase in stimulus, although that may change if and when the coronavirus is brought under control.

Monday’s rate cut is likely to be matched by a similar reduction in the loan prime rate, which is the basis for pricing corporate and household loans. A Bloomberg survey showed economists expect the rate for 1-year loans to fall by 10 basis points when it’s announced on Feb. 20.

Futures on China’s 10-year government bonds reversed gains after the operation, falling 0.27% as of 3:11 p.m. in Shanghai. The yield on sovereign notes due in a decade rose 3 basis point to 2.896%.

“The injection is relatively small,” said Becky Liu, head of China macro strategy at Standard Chartered Plc, adding the operation will reduce incentives to chase Chinese government and policy bank bonds. “It means the PBoC does not intend to further lower front-end rates from here.”

“I don’t think investors are overly worried about a lack of liquidity as it’s a clear trend that the PBOC would ease,” said Zhou Hao, an economist at Commerzbank AG. “Any declines in bonds resulted from today’s operation will create an opportunity for investors to buy more debt. The 10-year sovereign yield may fall to 2.8% in the coming weeks.” — Bloomberg

Grand Hyatt residential condo to rise in BGC

February 18, 2020 | 12:04 am

FEDERAL LAND Inc. teamed up with Japanese financial firm ORIX Corporation to introduce Grand Hyatt Manila Residences, the first residential condominium in Southeast Asia carrying the Grand Hyatt brand.

Grand Hyatt Manila Residences is a two-tower development flanking Grand Hyatt Manila hotel — which will be part of Federal Land’s master-planned township, Grand Central Park in North Bonifacio Global City.

“Grand Hyatt Manila Residences exemplifies the brand’s signature level of grandeur,” the company said.

Customized a la carte services are available for residents. They can order directly from Gran Hyatt Manila, book the services of a private chef, avail of general cleaning and errand services, concierge assistance, limousine or transportation services, and pet care service.

Residences of Grand Hyatt Manila Residences will have automatic Globalist membership to the premier loyalty program for the Hyatt brand, World of Hyatt.

Occupancy cost in Manila premium offices among the world’s lowest, says JLL report

February 18, 2020 | 12:04 am

OCCUPANCY cost for premium office locations in Manila are among the lowest across the globe, a recent report by Jones Lang LaSalle (JLL) found.

In its Premium Office Rent Tracker report published last month, the real estate consultancy firm ranked Manila the 66^th in its review of 86 markets for the cost of rent for premium office spaces.

It said total occupancy cost in Manila is at $54 (about P2,731) per square foot (sq. f.) per year, making it the third most affordable among the Southeast Asian cities covered by the report.

The others are Malaysia’s Kuala Lumpur at $30 per sq. f. per year; Thailand’s Bangkok at $46 per sq. f. per year; Indonesia’s Jakarta at $60 per sq. f. per year; Vietnam’s Ho Chi Minh City at $78 per sq. f. per year; and Singapore at $117 per sq. f. per year.

“Manila continues to enjoy stable demand and growth in the office sector and we think this positive trend will continue to flourish in the coming years as we see more investment in infrastructure and quality office space,” JLL Philippines’ Head of Commercial Leasing Lizanne H. Tan said in a statement.

The report said affordability is still a consideration for companies in office hunting, and it encourages corporate occupiers to look for alternatives.

“Affordability continues to be a concern, particularly in the top-tier cities like Hong Kong, New York and London…. More affordable cities are also attracting greater corporate interest, such as Helsinki, Montreal, Denver and Manila,” it said.

Hong Kong, New York and London are all in the top five markets with the highest premium office rent across the globe, where Hong Kong leads the entire list with an annual occupancy cost of $313 per sq. f.

In the Philippines, office demand come from the information technology-business process management (IT-BPM) sector and corporate occupiers, particularly in the prime locations of Makati City and Taguig City.

These two cities, JLL Philippines said, are the top locations in terms of average annual rent at $431 (about P21,800) per square meter and $463 (about P23,418) per square meter, respectively.

“The presence of quality grade stock, strategic location, infrastructure accessibility, and talent agglomeration serve as key advantages of these districts,” it said.

Across the globe, technology firms are seen to drive up demand for premium office spaces, joined by companies in the banking and financial services sector.

“While optimal experience is by necessity specific to organizations and locations, experience levers include access to spaces for employees across a range of activities, which will be essential ingredients of premium office space going forward,” the report said.

“Sustainability and corporate responsibility are rising on corporate and personal agendas, so green features and services — from access to greenery to minimizing resource utilisation — are increasingly important,” it added. — Denise A. Valdez

Elton John ‘deeply upset’ after cutting short concert

February 18, 2020 | 12:04 am

SINGER Elton John is seen on a jumbotron as he reacts after prematurely ending his show at the Mount Smart Stadium in Auckland, New Zealand on Feb. 16, in this screen grab obtained from a social media video. — *REUTERS*

WELLINGTON — British singer-songwriter Elton John apologized to his fans in New Zealand late on Sunday after he lost his voice due to walking pneumonia and was forced to cut short a concert in Auckland.

John broke down in tears at Auckland’s Mt Smart Stadium after he was unable to sing despite receiving medical attention.

He took to his Instagram page on Sunday night to apologize to fans who had turned up for the show.

“I want to thank everyone who attended tonight’s gig in Auckland. I was diagnosed with walking pneumonia earlier today, but I was determined to give you the best show humanly possible,” he said in the post.

“I played and sang my heart out, until my voice could sing no more. I’m disappointed, deeply upset and sorry. I gave it all I had,” he added.

The legendary singer, who won an Academy Award this month for best original song in his own biopic, Rocketman, had to be assisted from the stage after attempting to launch into the song “Daniel,” the New Zealand Herald reported.

John had told the crowd early in the concert that he was ill and his voice was “shot,” but he was determined to put on a great show.

He struggled to perform “Candle in the Wind” and told the audience he did not know how long he could continue, the Herald said. He briefly left the stage but returned in a new costume.

Several songs later he had lost his voice entirely and the show was over. He was seen weeping and waving to a cheering crowd as he left the stage, assisted by medics.

The concert was part of John’s Farewell Yellow Brick Road tour.

He is to play two more Auckland shows — on Tuesday, Feb. 18 and Thursday, Feb. 20. Those shows are expected to go ahead as planned as doctors are confident John will recover, state broadcaster 1News reported on Monday, quoting the event promoter Chugg Entertainment. — Reuters