Disneyland, other California theme parks, stadiums could reopen April 1

March 9, 2021 | 12:06 am

LOS ANGELES — California health officials set new rules on Friday that would allow Disneyland and other theme parks, stadiums and outdoor entertainment venues to reopen as early as Apr. 1, after a closure of nearly a year due to the coronavirus pandemic. But the return of Mickey Mouse to the “Happiest Place on Earth” and live spectators to the California ballparks of America’s favorite pastime still come with major caveats. Theme and amusement parks would be permitted to restart on Apr. 1 with severely limited capacity, but only if the counties where they operate are removed from the “purple” tier of California’s color-coded coronavirus disease 2019 (COVID-19) restrictions, the system’s most stringent classification. Masks and other safety measures would still be required, and the parks initially would be open only to state residents. Attendance would range from 15% to 35% of normal capacity. Outdoor stadiums, ball parks and performance arenas would also be allowed to welcome back live audiences starting Apr. 1, though at a fraction of maximum seating and subject to the same tiered system of constraints. Opening day turnouts for Major League Baseball games would be muted affairs in Southern California, with no more than 100 spectators allowed in venues located in purple-zoned counties. That would include the stadiums of the Los Angeles Dodgers, the San Diego Padres and the Anaheim Angels. San Francisco and Oakland, home of the Giants and the Athletics, respectively, are currently designated red, which would limit seating to 20% capacity. —Reuters

Robinsons Retail to buy back P2-B shares

March 9, 2021 | 12:06 am

GOKONGWEI-LED Robinsons Retail Holdings, Inc. will extend the company’s share buyback program for another P2 billion in a move to raise shareholder value.

The program will be facilitated through the Philippine Stock Exchange.

“Our buyback program is in line with our capital allocation policy, which involves our strategies for organic growth, M&As, e-commerce, and higher dividend payouts,” Robinsons Retail President and Chief Executive Officer Robina Gokongwei-Pe said in a statement on Monday.

The additional share buyback would be on top of the P2-billion share buyback program approved on March 9, 2020.

The company said it is in a strong net cash position to implement an additional share buyback program.

“We are confident in the growth trajectory of Robinsons Retail as we venture into more adaptive and agile means of doing business,” Ms. Gokongwei-Pe added.

Robinsons Retail has already repurchased some 24.7 million shares as of early March this year, amounting to P1.5 billion.

The company closed 2020 with a decline of 25.2% in its net income attributable to equity holders to P2.93 billion. Net sales meanwhile decreased 7.3% to P151.03 billion.

Robinsons Retail shares at the stock exchange dropped by 2.25% or P1.20 on Monday, closing at P52.05 apiece. — Keren Concepcion G. Valmonte

Twitter’s Dorsey auctions first ever tweet as digital memorabilia

March 9, 2021 | 12:05 am

THE FIRST ever tweet — “just setting up my twttr” — is up for sale after Twitter boss Jack Dorsey listed his famous post as a unique digital signature on a website for selling tweets as non-fungible tokens (NFTs). The post, sent from Mr. Dorsey’s account in March of 2006, received offers on Friday that went as high as $88,888.88 within minutes of the Twitter co-founder tweeting a link to the listing on Valuables by Cent — a tweets marketplace. Old offers for the tweet suggest that it was put for sale in December, but the listing gained more attention after Mr. Dorsey’s tweet on Friday. NFTs are digital files that serve as digital signatures to certify who owns photos, videos and other online media. Mr. Dorsey’s 15-year-old tweet is one of the most famous tweets ever on the platform and could attract bidders to pay a high price for the digital memorabilia. The highest bid for the tweet stood at $2 million at 04:47 GMT on Saturday. The updated offer was made by cryptocurrency pioneer Justin Sun, who won an auction for Warren Buffett’s charity dinner. “I have updated my offer to 2 million USD,” Sun tweeted. Launched three months ago, Valuables compares the buying of tweets with buying an autographed baseball card. “There is only one unique signed version of the tweet, and if the creator agrees to sell, you can own it forever.” A tweet’s buyer will get an autographed digital certificate, signed using cryptography, that will include metadata of the original tweet, according to the Valuables website. The tweet will continue to be available on the Twitter website. — Reuters

SMC to dredge 600,000 tons of silt, waste from Pasig River

March 9, 2021 | 12:05 am

DIVERSIFIED conglomerate San Miguel Corp. (SMC) said that it is targeting to annually remove 600,000 tons of silt and solid waste from Pasig River over the next five years, as it awaits the arrival of two units of dredging equipment.

“Through the years, Pasig River has become narrower and shallower because of accumulated silt and waste. By cleaning and widening it, we will be able to increase its capacity to keep water flowing within its banks especially during heavy rains,” SMC President Ramon S. Ang said in a press release on Monday.

The two new units of dredging equipment are said to be capable of pulling 600,000 tons of silt and garbage out of Pasig River’s waters per year for the next five years, SMC said.

It added that it would be partnering up with the Department of Environment and Natural Resources (DENR), the Department of Public Works and Highways, and other concerned government units in extracting 50,000 tons of waste per month from the river.

Mr. Ang said that they were able to identify sections of the river where the depth has been reduced to as little as one meter. According to him, these were the areas which caused widespread flooding.

For the Pasig River to channel flood waters to Manila Bay, it should be at least 10 meters deep, he explained.

SMC said that it plans to begin the river’s clean-up operations by April.

SMC is also undertaking a P1-billion dredging and clean-up initiative in the Tullahan River system, which is seen to benefit flood-prone areas like Malabon and Navotas.

In March 2019, the conglomerate inked a deal with the DENR to implement a comprehensive dredging and clean-up program for the 59.24 kilometer river.

SMC shares in the local bourse were unchanged at P125 apiece on Monday. — Angelica Y. Yang

Real estate optimism focuses on healthcare, retirement

March 9, 2021 | 12:05 am

By Jenina P. Ibañez, Reporter

POST-PANDEMIC property investment opportunities are focused on healthcare, offices and retirement, real estate service provider Santos Knight Frank said.

According to the Philippine results of the global Knight Frank survey, individuals with high net worth in the Philippines have a “soft level” of optimism this year.

High net worth individuals (HNWIs) in the population — or those with net worth over $1 million — are interested in healthcare investments, according to almost half of wealth managers surveyed said.

Meanwhile, 42% said they are interested in offices, while others could be more interested in retirement (33%) and industrial and logistics (25%) investments.

“One in every 3 HNWI is also looking to buy a new home primarily to upgrade their family’s main residence, for leisure/holiday, or permanent movement,” Kash A. Salvador, Santos Knight Frank director of investment and capital markets, said in an e-mail on Friday.

Santos Knight Frank, the Philippine affiliate of Knight Frank, said that the coronavirus disease 2019 (COVID-19) pandemic has significantly affected wealthy Filipinos, because most family-led conglomerates have stakes in retail, hospitality, and aviation.

These industries have been battered by the slump in tourism and mall foot traffic, as the government continues to implement restrictions to contain the spread of the virus.

Tourism revenues last year dropped 83% to P81.4 billion after pandemic-related restrictions prompted a significant decline in foreign visitors, the Department of Tourism said.

“A significant number of wealth managers said their clients’ wealth has either remained the same or decreased marginally,” Mr. Salvador said.

“Liquidity has been a priority for HNWIs with businesses, and so we have seen liquidation of assets especially of properties which do not support core businesses.”

Despite the decline last year, the firm is expecting a reversal over a five-year period.

The Knight Frank wealth report 2021 said that the number of super-rich Filipinos is likely to grow between 2020 to 2025, in line with a global trend, after the number dropped last year.

The forecast, the report said, represents “optimism for the emergence of a new economic cycle and set new expectations for the post-pandemic world.”

The firm’s Attitude Survey consulted 600 private bankers and wealth advisors globally between October and November last year. Santos Knight Frank has not yet reported how many were surveyed in the Philippines.

Kim Kardashian says body-shamers ‘really broke me’ during pregnancy

March 9, 2021 | 12:04 am

LOS ANGELES — Kim Kardashian on Friday called out those who bully and body-shame others, recalling her embarrassment when she was attacked for gaining 60 pounds during her first pregnancy. In an Instagram stories posting, Ms. Kardashian detailed how she had been compared to a killer whale during the later stages of her pregnancy in 2013, and how her figure was contrasted unfavorably to Prince William’s wife Kate, who was also pregnant at the time. “I cried every single day over what was happening to my body, mainly from the pressures of being constantly compared to what society considered a healthy person should look like — as well as being compared to Shamu the Whale by the media,” she wrote, referring to the mammal that used to perform at SeaWorld. “I was shamed on a weekly basis with cover stories that made my insecurities so painful I couldn’t leave the house for months after. It really broke me,” said Ms. Kardashian, who rose to fame through her family’s reality TV show Keeping Up with the Kardashians. The cosmetics businesswoman and social media star said she was reminded of those months while watching a recent documentary about Britney Spears, tracing the meteoric rise of the pop star and the media coverage of her mental health breakdown in 2007. Ms. Kardashian, 40, said the documentary made her empathize with Ms. Spears. She said the media “can be very traumatizing and it can really break even the strongest person… No-one deserves to be treated with such cruelty or judgment for entertainment,” Ms. Kardashian told her 208 million Instagram followers. Ms. Kardashain gave birth to her daughter North in June 2013. She went on to have a son, Saint, in 2015 and later had two children by a surrogate because of health complications. Ms. Kardashian last month filed for divorce from the rapper Kanye West, her husband of almost seven years. — Reuters

ePLDT launches new cloud commerce platform

March 9, 2021 | 12:04 am

EPLDT, the information and communications technology unit of PLDT Enterprise, has launched a cloud-based e-commerce solution called “Salesforce Commerce Cloud,” its top official said on Monday.

“Our commitment is to continuously support businesses of all sizes by enabling them with the latest technologies,” Juan Victor I. Hernandez, ePLDT president and chief executive officer, said in an e-mailed statement.

The latest cloud commerce platform allows businesses to use a “one-stop e-commerce solution and free businesses from the demands of managing various digital channels,” Mr. Hernandez, who is also senior vice-president and head for PLDT and Smart Enterprise Business Groups, added.

ePLDT said it supports complete customer journey across Salesforce CRM service functionality and complementary enterprise applications.

“By connecting Salesforce Commerce Cloud with other Salesforce clouds, businesses can power the entire customer lifecycle — from awareness and acquisition, to purchase and fulfillment, to advocacy and retention,” it explained.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a stake in BusinessWorld through the Philippine Star Group, which it controls. — Arjay L. Balinbin

Hospital, wellness center in Megaworld’s Davao township opens

March 9, 2021 | 12:04 am

By Maya M. Padillo, Correspondent

DAVAO CITY — The 250-bed Lanang Premiere Doctors Hospital, located within Megaworld Corp.’s Davao Park District, has opened, adding to the medical facilities available in the city as it transitions to the new normal prompted by the ongoing coronavirus pandemic.

Kevin Andrew L. Tan, Megaworld chief strategy officer, said the opening of the hospital within their first township project in Mindanao comes at a time when health services are particularly crucial and new standards in delivering medical care are necessary.

“This also complements our vision for the township as a thriving community where our residents, office workers, and even visitors have convenient access to a world-class medical facility,” Mr. Tan said via Messenger.

The Lanang Premiere Doctors Hospital, initially planned for full operations in July 2020, was inaugurated on Feb. 27 after hurdling delays due to the pandemic-related restrictions.

It has a 14-storey hospital facility and an adjacent five-floor building for doctor’s clinics.

The hospital has also been designed for medical tourism.

Apart from the hospital, the 11.2-hectare Davao Park District currently houses the Davao Finance Center, an office building targeted for information technology, business process outsourcing, offshore gaming, and other corporate clients.

More than half of the complex will be occupied by four condominium buildings being developed by Megaworld subsidiary Suntrust Properties, Inc.

The 7.2-hectare residential component has also been delayed. Units in the first two towers were supposed to have been turned over to owners in 2020.

Leonora P. Gutierrez, Suntrust senior assistant vice-president for regional operations, said the new target date for delivery to buyers is in 2022.

“Since completion is expected towards the end of the year, turnover will follow in 2022,” Ms. Gutierrez said in an online interview.

The four towers will have a combined 1,260 residential units and commercial spaces on the ground floor.

AboitizLand updates mobile app

March 9, 2021 | 12:03 am

ABOITIZLAND is launching its mobile app that would streamline the contactless home-buying process amid the pandemic.

In a statement, the property firm said it is updating the Vecino Portal, a mobile application that provides efficient end-to-end online services for homebuyers.

With the app, homebuyers can track the construction status and payments, get home construction updates, access documents, and schedule acceptance and turnover dates.

“A critical process in real estate is the turnover of the unit for the vecinos (Spanish for neighbor). We found a way to complete this process amidst the pandemic through online turnovers,” said AboitizLand CEO David L. Rafael in a statement.

The Vecino app will be updated to make it easier for buyers and sales partners “to reserve units, submit documentary requirements, complete monthly amortizations and apply for a housing loan.”

“Through the use of data science and artificial intelligence (DSAI), AboitizLand will employ systems and processes that will pave the way for improved customer service. Apart from investing in various digital tools to automate critical areas in their operations, the company will also rationalize routine processes potentially through Robotic Process Automation,” the company said.

AboitizLand partnered with sister company Union Bank of the Philippines on an improved customer profiling system and a predictive model that will detect construction delays.

Women wanted: Abbey Road Studios tackle industry imbalance

March 9, 2021 | 12:03 am

LONDON — Abbey Road Studios is opening its doors to women, hoping to inspire future generations of female artists, producers and engineers with a week-long festival of workshops. The famed London recording studios launched its “Equalise” program on International Women’s Day 2020. This year’s edition is online, due to the COVID-19 (coronavirus disease 2019) pandemic, with participants offered classes on technical know-how, interactions with other music makers and guidance from industry leaders virtually. “Five percent of music producers and engineers are women, which is abominably low,” Abbey Road Studios’ managing director, Isabel Garvey, told Reuters in the venue’s Studio Three, where Pink Floyds’ The Dark Side of the Moon and Amy Winehouse’s final tracks were recorded. “This program that we’re running is shining a light on all of those characters behind the scenes and helping young women understand the opportunities.” The program, which opened on Mar. 1 and runs through International Women’s Day on Mar. 8, features live masterclasses with leading female music industry figures and panel discussions with rising talent. Ms. Garvey, 45, has been at the helm of the world’s oldest recording studio since 2014. Following what she describes as a “deep, dark history in finance,” she carved herself a career in music, rising to senior roles at major music labels. The “Equalise” program also features one-to-one mentoring sessions. — Reuters

AG&P says DoE approved its LNG terminal project

March 9, 2021 | 12:03 am

Philippines LNG will be the fifth planned LNG import terminal in the country. — BW FILE PHOTO

SINGAPORE — Atlantic Gulf & Pacific Co. (AG&P) said on Monday its Philippines subsidiary has received the green light to develop a liquefied natural gas (LNG) import and regasification terminal in Batangas Bay, south of Manila.

The firm, part owned by Osaka Gas Co. Ltd. and the Japan Bank for International Cooperation, said the Philippines’ Department of Energy (DoE) has issued it a notice to proceed to develop the terminal, known as Philippines LNG, which will provide the fuel to power plant, industrial and commercial customers and other consumers.

Philippines LNG will be the fifth planned LNG import terminal in the Southeast Asian nation, which is seeking the fuel as the Malampaya gas field in western Philippine waters is expected to run dry this decade.

Four other terminals worth about P65 billion ($1.34 billion) are at various stages of approval or financial closure.

Philippines LNG will have an initial capacity to deliver up to three million tons per annum (mtpa) of regasified LNG, with additional capacity for liquid distribution, AG&P said in a statement.

It will also have scalable onshore regasification capacity of 420 million standard cubic feet per day (mmscfd) and almost 200,000 cubic meters (cbm) of storage, AG&P said.

The statement did not disclose financial details of the project.

The company has completed its pre-development work for the terminal, which is expected to be commissioned by mid-2022. — Reuters

Infrastructure projects seen to boost demand for Bria Homes

March 9, 2021 | 12:02 am

THE government’s aggressive infrastructure push is expected to drive demand for residential projects outside of Metro Manila.

Bria Homes is ramping up its expansion of its communities in the provinces to take advantage of the anticipated demand.

One of its projects is located in Mariveles, Bataan.

“Mariveles will soon become a sought-after location for new residents as it will be the starting point of the upcoming Bataan-Cavite Interlink Bridge that connects Mariveles to Naic, Cavite,” the Villar-led property company said.

Another Bria Homes project in Alaminos, Laguna will likely benefit from the completion of the Alaminos-San Pablo City Bypass Road, which will make it easier for motorists to travel to and from Quezon province and the Bicol region.

Toll Road 4 on the South Luzon Expressway will give motorists faster access to BRIA projects in Laguna and Bicol.

“With its multiple residential developments in Central and Northern Luzon, Bria Homes stands to gain the most from the shorter travel time to be engendered by all these projects,” the subsidiary of Golden MV Holdings, Inc. said.