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PLDT studies opportunities in ABS-CBN’s SkyCable

PLDT, Inc. said Monday it was exploring opportunities in Sky Cable Corp., a subsidiary of ABS-CBN Corp.

“PLDT regularly explores opportunities available to the group that may complement our overall business strategy. As such, PLDT is evaluating options with respect to SkyCable for possible opportunities,” PLDT said in a statement.

It added: “However, there is nothing definite nor disclosable at this time.”

PLDT issued the statement to clarify news reports that it is bidding for SkyCable.

In a separate statement, ABS-CBN said: “SkyCable has not solicited this bid to sell the company, nor has ABS-CBN Corp. made any decision with regard to a divestment of SkyCable.”

If the deal pushes through, the Bayanihan To Recover As One Act (Bayanihan II) signed by President Rodrigo R. Duterte on Sept. 11 exempts mergers and acquisitions from compulsory notification “with transaction value of less than P50 billion which are entered into within two years” from effectivity of the law.

The Philippine Competition Commission in a statement said the new law also suspends its “exercise of motu proprio review of these mergers and acquisitions for a period of one year.”

The National Telecommunications Commission (NTC) issued in July a cease-and-desist order against the direct broadcast satellite service of SkyCable.

The company’s legislative franchise had expired on May 4.

Last week, the NTC issued an order recalling all the frequencies assigned to ABS-CBN after the House of Representatives in July denied the network’s application for a legislative franchise.

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

Gov’t partially awards T-bills as investors ask for higher yields

THE GOVERNMENT made a partial award of the Treasury bills (T-bills) it offered on Monday as market players sought higher yields ahead of the US Federal Reserve’s policy meeting and the Bangko Sentral ng Pilipinas’ (BSP) maiden bond issuance.

The Bureau of the Treasury (BTr) borrowed just P12 billion out of the programmed P22 billion even as the offer was more than twice oversubscribed, with bids totaling P54.152 billion.

Broken down, the BTr accepted P7 billion as planned in the 91-day T-bills, with the tenor attracting bids worth P26.313 billion or almost four times the offer volume. The three-month papers fetched an average rate of 1.15%, down 1.7 basis points (bps) from the 1.167% logged in the previous auction.

The Treasury said it doubled accepted bids from the non-competitive sector or small investors to P4 billion. Their prices are computed on the average price of all competitive tenders from institutional investors.

The government also borrowed P5 billion as programmed via the 182-day tenor with tenders reaching P13.134 billion. The six-month securities fetched an average rate of 1.589%, higher by 7.1 bps from 1.518% previously.

On the other hand, the Treasury did not award any 364-day T-bills yesterday even as tenders reached P14.705 billion, well above its P10-billion program. Had the government made a full award, the average rate for the one-year papers would have climbed to 1.969%, 16.2 bps higher than the 1.807% fetched in the previous auction.

At the secondary market, the 91-day, 182-day and 364-day T-bills fetched yields of 1.207%, 1.518% and 1.84%, respectively, yesterday.

National Treasurer Rosalia V. de Leon said the yields fetched for the T-bills reflected investors’ anticipation of the US central bank’s policy meeting on Sept. 15-16 and the BSP’s bond offering on Friday.

She added that the Treasury rejected the bids for one-year papers as rates soared compared to prevailing yields at the secondary market.

“The BTr rejected bids for the 364-day papers as rates were higher by 16 bps, north of the previous auction, as well as secondary levels. Banks are positioning in anticipation of maiden BSP offering, as well as outcome of the Federal Reserve policy meeting this week,” Ms. De Leon told reporters via Viber after the auction.

“The banks were saying they will go for one-year debt if the BTr accepts [a] big pickup [in yields] versus the secondary levels,” Ms. De Leon added.

A trader likewise said “bids for the 364-day bills are too high and the market is probably waiting to see first how the central bank’s auction will go.

The central bank will offer 28-day securities on Friday, with the final offer volume set to be confirmed on Sept. 16.

The BSP said the auction volume for the debt papers will be small at the start, but will be gradually increased based on market response and its liquidity forecast.

The Treasury is looking to raise P160 billion from the domestic market this month: P100 billion via weekly auctions of T-bills and P60 billion via Treasury bonds to be offered fortnightly.

The government is looking to borrow around P3 trillion this year from local and foreign lenders to help fund its budget deficit expected to hit 9.6% of the country’s gross domestic product. — K.K.T. Jose

Sta. Lucia touts nature-inspired developments

URBAN FARMING and gardening have become popular stress relievers amid the pandemic. This has prompted many home buyers to look into properties with green open spaces.

“We have seen how critical it is to have enough space to move around. Social distancing isn’t something we see as temporary. I think this will now become the norm and thus, it is important to live and reside in an area where there’s more than enough space for people to move around, have access to nature and have good air quality to breathe in,” Sta. Lucia Land, Inc. President Exequiel D. Robles said in a statement.

Sta. Lucia Land’s portfolio includes leisure farm lots at La Huerta Farms and Residences in Laguna, and a lakeside community The Lake at St. Charbel in Cavite.

Mr. Robles said the lake development and farm lots are projects that are “built for and beyond the new normal.”

“Nature or the simple idea of creating your own green space had become a perfect therapy for many individuals while on quarantine. And this is something that we fully understand and long advocated for. This is why we have in our portfolio projects that would allow residents to commune with nature and to some extent, realize their dream of becoming a full-fledged gardener/farmer,” Mr. Robles said.

Disney’s Mulan opens weak in China

LOS ANGELES — Walt Disney Co’s live-action remake of Mulan pulled in $23.2 million over the weekend at box offices in China, a slow start for the big-budget epic about a Chinese folk hero in its most important theatrical market.

The debut for Mulan fell short of director Christopher Nolan’s Tenet, which grossed $29.8 million in China a week earlier. Unlike Tenet, Mulan was tailored to draw big audiences in the country.

But Mulan, which cost $200 million to produce, was hit by political controversy and received mixed reviews in China. It had been set to debut in March until it was delayed by the coronavirus pandemic, which has limited moviegoing worldwide.

“That’s a disappointing debut,” said Jeff Bock, senior media analyst at Exhibitor Relations Co. “Disney made this film for Chinese audiences and they saw it pretty much fall flat.”

Mulan provoked a backlash on overseas social media, and calls for a boycott, over its star’s support of Hong Kong police and for being partly filmed in the Xinjiang region, where China’s clamp-down on ethnic Uighurs and other Muslims has been criticized by some governments and rights groups.

Chinese authorities told major media outlets not to cover the film’s release in the wake of the uproar, four people familiar with the matter told Reuters.

Total worldwide box office receipts for Mulan reached $37.6 million through Sunday for the seven territories where the film is playing.

Disney is trying to turn a profit on Mulan through an unusual release strategy because the pandemic has left many theaters shuttered.

The company made Mulan available for online viewing in the United States and other countries where the Disney+ streaming service is available.

In China and other countries where Disney+ does not operate, Disney is releasing Mulan in cinemas. Disney has not provided sales figures from streaming.

Starring big-name Chinese-born actors — Jet Li, Gong Li, Donnie Yen and Yifei Liu — Mulan was tailored to appeal to audiences in China, the world’s second-largest movie market.

But there was no major media build-up and no star-studded premier or red carpet launch.

Online reviewers in China seemed more concerned about the plot than the politics.

‘EXTREME REVIEWS’
The film was rated 4.7 out of 10 on China’s popular social media site Douban.

Some posters pointed out historical inaccuracies, including the use of buildings that only appeared hundreds of years after the film’s setting.

The movie’s “pre-sales started too late, and it got quite some extreme reviews before the premiere,” said Liu Zhenfei, an analyst with Maoyan.

“On top of the fact that it is impacted by piracy issues, because the storyline is Chinese, it faces higher expectations when shown in China,” he said.

The ticketing company predicted Mulan would likely take in less than 300 million yuan in ticket receipts during its entire run in China.

By comparison, The Eight Hundred, a patriotic movie about China’s fight against Imperial Japanese during World War Two, earned 141.3 million yuan on its first full day in August.

People coming out of the first screenings of Mulan said the politics had not put them off.

“We should not make art political,” said Shanghai cinema-goer Gao Wenxing, 23.

“As a Chinese person, I don’t think there is anything wrong with Liu Yifei’s action,” she added, referring to the actress who plays the Mulan and angered many with her support for police in Hong Kong at a time when the city was embroiled in unrest.

When asked in the past about the reaction to the film’s Xinjiang shooting, China’s foreign ministry has reiterated Beijing’s denial of the existence of re-education camps in the region, calling facilities there vocational and educational institutions and accusing anti-China forces of smearing its Xinjiang policy. — Reuters

PAL launches deals to boost air travel demand

FLAG carrier Philippine Airlines (PAL) is offering promotional low fares aimed at boosting air travel during the last quarter of the year and the first six months of 2021, its spokesperson said.

“With this latest offering from Philippine Airlines, we hope to stimulate demand and boost travel during the 4th quarter of this year and first half of 2021. As we look forward to a more promising outlook for the industry in 2021, we will continue to carry out similar initiatives,” PAL Spokesperson Cielo C. Villaluna told BusinessWorld in a phone message.

PAL’s “September Deals” promotion offers passengers one-way base fares as low as P688  for domestic journeys and $99 for round-trip international flights.

“Travelers may purchase these promotional low fares from September 14 to 20, for travel during the seven months from November 1, 2020 to May 31, 2021,” PAL said in a statement.

“For flexibility, PAL passengers may enjoy free rebooking on the same booking class seven days prior to departure date,” it added.

The airline said the initiative also aims to support Philippine businesses and communities as the economy gradually reopens.

PAL currently operates flights on various domestic and international routes while implementing “strict new-normal safety measures,” it said.

Safe Travel Barometer, a unit of travel industry consulting firm VIDEC, has identified the flag carrier as one of the top 10 airlines with the highest safety credentials for travel during the pandemic, Ms. Villaluna noted. — Arjay L. Balinbin

TLDC shifts to ‘agile’ work arrangements

TORRE LORENZO Development Corporation (TLDC) has shifted to agile work arrangements and ramped up its digital transformation amid the pandemic.

“Our top priority remains ensuring that our employees, as well as those who live and work in our developments, remain safe and secure during the pandemic,” TLDC Chief Executive Officer Tomas P. Lorenzo said in a statement.

Under the company’s flexible work arrangement scheme, employees are allowed to work at home if they can complete their tasks remotely.

Transport service is provided to employees who need to be physically present at the office.

TLDC also implemented the digitization of various administrative processes that were previously done manually. “Paper transactions are part and parcel of any corporate operation, but we have fully embraced technology to minimize this and ensure our people can secure necessary documentation for their tasks from wherever they work,” Mr. Lorenzo.

All TLDC employees are required to wear both masks and face shields at the office. Meetings are conducted virtually, while COVID testing is regularly conducted for all employees and support staff.

For employees and outsourced service providers going to TLDC properties, the company provides free lodging as well as subsidized meals to help ensure their safety and security.

For clients, TLDC has kept digital channels such as its social media accounts open to respond to queries and requests. Its projects can be viewed through walkthrough videos, while the contact center is available to receive concerns six days a week.

LANDBANK approves P330 million in loans under ‘study now, pay later’ program

Land Bank of the Philippines (LANDBANK) has granted P330 million in loans as of mid-August under its “study now, pay later” scheme, the Department of Finance (DoF) said in a statement on Monday. 

The DoF said the loans will be extended to four schools that tapped the state-run lender’s P3-billion credit facility after securing approval from the board. Six more loan applications are now up for approval this month while five applicant schools have yet to complete their requirements.

There were over 60 schools that expressed their interest in the program when it was launched, the DoF said.

The lending program refinances or discounts promissory notes issued by the students’ parents, where schools can borrow up to 70% of the value of the promissory notes per semester and subject. The loan bears a fixed interest rate of three percent per annum.

Educational institutions eligible for the “study now, pay later” scheme are private high schools, private technical-vocational education training institutions, colleges and universities. The program is available until June 30, 2021.

Meanwhile, LANDBANK also has an ongoing P1.5-billion lending scheme where parents can borrow up to P300,000 to pay for their students’ tuition fees. The loan carries an annual interest rate of five percent.

The program is dubbed the Interim Students’ Loan for Tuition toward Upliftment of Education for the Development of the Youth (i-STUDY).

The two credit facilities were offered to help families whose incomes were sharply reduced amid the ongoing crisis so their children can still enrol this coming school year. 

LANDBANK President and CEO Cecilia C. Borromeo said the bank’s initiative was “in response to President (Rodrigo R.) Duterte’s call on the institution to support students during this time of crisis.” 

“This program will not only help families who have kids they want to send to school, but will also assist private schools and downstream industries to sustain and continue their operations,” Ms. Borromeo was quoted as saying. 

The DoF said parents with children in the primary and secondary levels can avail of the short-term loan with one year maturity while loans for students in tertiary level are payable for up to three years, inclusive of a one-year grace period. — BML

Warner Bros. won’t share Tenet box office data, angering rival studios

LOS ANGELES — People who closely follow box office earnings have noticed a surprising lack of transparency surrounding ticket sales for Tenet, the $200 million-budgeted sci-fi epic from director Christopher Nolan that released last weekend in US theaters.

Since Tenet premiered, Warner Bros., the studio behind the film, has parceled out carefully selected breadcrumbs of data to reporters and rival studios. Traditionally, studios share box office information on a daily basis. That’s not the case with Tenet.

Though it started playing in theaters on Thursday, Sept. 3, Warner Bros. waited until Sunday, Sept. 6 to officially announce opening weekend grosses. Tenet earned $20 million over the long weekend, a middling result for a film of its size.

Industry observers presumed that Warner Bros. wanted initial box office receipts for Tenet to look as robust as possible — and waiting until Sunday for the full weekend figure would make earnings sound stronger than they might if the studio had dribbled out daily numbers.

The studio, however, was concerned that reporters and rivals would misinterpret or unfairly analyze the results — leading to headlines that may incorrectly label Tenet’s debut as a flop. Warner Bros. urged journalists to provide context by noting that ticket sales would automatically be lower than normal given the fact that theaters in major markets like New York and Los Angeles aren’t open and cinemas that have reopened have done so at reduced capacity. With those caveats in mind, Warner Bros. was never banking on a splashy opening weekend and instead hoped Tenet would play in theaters for months without much in the way of competition.

Box office reports are one of the most public-facing activities that studios undergo. A hit opening weekend allows them to trumpet the good news in advertisements and through internal communications. But there’s a downside to those bragging rights. It also forces studios to own their mistakes — a miss is a miss, after all. With streaming rivals such as Netflix and Amazon keeping a tight grip on the number of times films are watched and refusing to reveal box office data about their films, more traditional studios have grown frustrated. Some studio executives have even publicly carped about the need to report grosses, suggesting they’d rather forgo the process all together.

Though it is unusual for a major studio like Warner Bros. to shield grosses for perhaps the buzziest movie of the year, other Hollywood players had given the company a pass for opening weekend because Tenet was the first significant movie to debut since coronavirus struck. Rival studios are closely watching the Nolan film as a test to see if people would go to the movies during the pandemic. The results, in effect, would help Hollywood decide whether or not to continue releasing big-budgeted tentpoles in the middle of a global health crisis.

Numerous insiders at rival studios emphasized that they want Warner Bros. and Tenet to succeed, citing the aphorism that rising tides lift all boats. But given the importance of the movie theater business, Hollywood executives at other studios have privately complained about the lack of transparency.

In normal times, executives that are involved in distributing films get access to grosses by the hour. Studios work with the research company Rentrak and its parent corporation Comscore to report daily numbers and publish box office charts each weekend that are widely distributed across the entertainment industry. Studios pay a lot of money to get down-to-the-minute updates, with the agreement that rivals have access to info from other distributors.

According to individuals familiar with the situation, Rentrak had to get permission from major studio heads before concealing daily numbers for Tenet. Though executives were initially reluctant, they ultimately agreed for the first weekend as a courtesy, believing that Warner Bros. was taking a bold bet in testing the waters and needed their support.

But as Tenet continued into its second weekend in theaters, there has still been a dearth of information regarding box office data. The studio has yet to report daily figures, and was expected to wait until this Sunday to divulge ticket sales.

Warner Bros. and Comscore declined to comment on this report. However, studio sources argue they aren’t obligated to share numbers with anyone else and stress that there’s no precedent for releasing a movie in a pandemic. Comparing Tenet to any other movie, one source said, is “apples and kumquats.” By distributing numbers in the traditional fashion, anyone on the outside could jump to conclusions and categorize Tenet as a financial disaster. They argue that there’s no difference between reporting numbers on Friday afternoon or Sunday morning.

Sources at other studios pointed out that some cinema owners, particularly those with drive-in locations, don’t report weekend earnings to studios until Sunday. While normally that wouldn’t make a notable dent in a final tally, drive-ins have become popular during the pandemic.

Adding to anxieties for Hollywood is the concern that other studios might make similar agreements to conceal grosses for upcoming releases — pushing box office revenues behind a curtain of inscrutability. Sony Pictures is already following suit, waiting until the end of this weekend to share sales for its romantic comedy The Broken Hearts Gallery.

That could signal that Warner Bros. decision to withhold information and tightly control its box office reporting may no longer be the exception to the rule. It could signal a new precedent for media companies always eager to avoid scrutiny. — Reuters

Entertainment News (09/15/20)

Korean Film Festival movies online

FOR 21 days, Filipinos, lovers of Korean films will be able to see their favorite stars on the aptly-themed “Celebrity Spotlight,” as the Korean Film Festival 2020 will be headlined by three of Korea’s biggest stars — Hyun Bin, Son Ye Jin, and Park Seo-jun. Starting Sept. 12 and running until Oct. 2, Filipino viewers may binge, enjoy, and repeat for as many times as they like, two of the best films from each star for a week. The films are available for view for free on the Korean Cultural Center’s website. The videos are only accessible for viewers in the Philippines and are not available for viewing on iPhone and MAC Safari. But they can be watched using Chrome on Apple gadgets.

Zac Efron hosts eco-conscious TV show

American actor and singer Zac Efron teams up with Discovery Channel to bring a new series titled Down to Earth with Zac Efron, where he embarks on a journey that will reveal the secrets to a healthy long life and the importance of being eco-conscious. The show airs on Sundays at 9 p.m. In the show, Efron travels to different parts of the globe to understand different eco-friendly initiatives — from Iceland using renewable sources to Paris’ clean drinking initiatives. Down to Earth with Zac Efron airs on Discovery Channel which is available on SkyCable CH 39, Cignal TV CH 140, and Destiny Cable CH 56.

Vans launches music competition

SPORTS brand Vans announces the worldwide expansion of the brand’s music platform, Vans Musicians Wanted. Originally launched in Vans’ Asia-Pacific region in 2015, the Vans Musicians Wanted competition is a global music platform that provides undiscovered musicians a chance for their original music to be heard by a global audience. This year’s competition is now a digital experience, and will award one grand prize winner the opportunity to share the stage with Vans Ambassador and Grammy award winning artist Anderson .Paak. Vans has partnered with Atlanta-based rapper J.I.D and Chinese-born and American-raised artist Bohan Phoenix to serve as guest judges for the global competition. To celebrate the partnership, Vans has teamed up with Bohan Phoenix to release his customized Vans shoes on Vans.com/Customs. Joining J.I.D and Bohan Phoenix as special guest judges, European based singer-songwriter Nilüfer Yanya, and Grammy award-winning artist, Anderson .Paak will review the top five artists from each region. The top five artists from APAC will perform at the Vans Musicians Wanted Virtual Concert this December, they will also receive free album distribution through Spinnup, Universal Music Group’s distribution service for independent artists. One grand prize winner will be selected to receive Vans product, Fender Gear, Vans Spotify and Apple Music playlisting, music video produced by Universal Music Group and one year of free and unlimited global music distribution from Spinnup (APAC exclusive), and the opportunity to share the stage with Anderson .Paak as the opening act in 2021.

Filipina-Singaporean singer-songwriter

FOLLOWING her well-received debut single “Tonight” in July, Filipina-Singaporean singer-songwriter Gail Belmonte chronicles her struggles reclaiming happiness on her new single “You Don’t” which was recently released on all digital platforms worldwide via indie label Umami Records. “You Don’t” is the second of a trio of singles Gail Belmonte is debuting in late 2020. The last of the series, “Restart,” is scheduled for release on Nov. 13. Listen to “You Don’t” via Umami Records at https://www.umamirecords.sg/you-dont/ . Born and raised in Singapore, of Filipino descent, Gail Belmonte was champion in the vocal solo category of Singapore talent competition Impresario 2016, a finalist of China Super Vocal 2016, a finalist in Mediacorp Singapore’s The Final 1 (2013), and also appeared in Season 4 of ABS-CBN’s Pilipinas Got Talent (2016). She has featured on tracks by artists like fulses, thecolorfractal, Fingerfunk and Tim De Cotta, and is now putting out her own music this year via indie label Umami Records.

Orange & Lemons release new indie pop single

ORANGE & Lemons has released its new single, “You Bring Out My Best,” which finds Clem Castro waxing poetic on the intimate moments with a fictional ex-lover. The song was intended as a pitch for a commercial project, but the band decided to release it as a stand-alone single.   “You Bring Out My Best” was written, arranged, and demo-recorded in February. Four months after the demo was shelved, Orange & Lemons braved the studio to resume recording of the single. Armed with disinfectants and face masks, the award-winning band carefully observed health and safety protocols to finish the material.  “You Bring Out My Best” was released on Sept. 11 on all digital platforms worldwide via Lilystars Records.

Netflix announces first K-pop documentary

NETFLIX has announced its first K-pop documentary, BLACKPINK: Light Up the Sky, which charts the meteoric rise of the South Korean four-member superstar girl group, BLACKPINK. Directed by Caroline Suh and produced by RadicalMedia, the film interweaves exclusive interviews with never-before-seen footage of BLACKPINK members Jisoo, Jennie, Rosé and Lisa, from their trainee days to the global sensations they are today. Viewers will get a first look into the recording process of the band’s follow up album, which depicts the highs and lows of being a K-pop idol group, and showcases each member’s talent. The film culminates with their historic 2019 Coachella performance, where BLACKPINK was the first K-pop girl group to take on the Coachella stage. The documentary will be released globally on Oct. 14.

Manila Broadcasting Company announces schedule of Annual Stockholders’ Meeting

Converge ICT, Nokia target to connect 300,000 customers in Mindanao 

FIBER internet provider Converge ICT Solutions, Inc. and multinational telecommunications firm Nokia Corp. are hoping to connect over 300,000 customers in Mindanao to their “ultra-broadband” services in the next three years.

“Converge ICT will bring ultra-broadband services to the island of Mindanao by deploying Nokia’s fiber-to-the-home (FTTH) solution,” Nokia said in an e-mailed statement on Monday.

It added: “With this deployment, Converge ICT will be expanding its broadband network coverage to the region by connecting more than 300,000 homes and businesses to ultra-fast, affordable, and reliable broadband services over the next three years.”

Converge ICT currently operates an end-to-end high-speed fiber network in the country with more than 30,000 kilometers in length.

The company is working to expand its domestic backbone from Luzon to the Visayas and Mindanao islands.

Converge ICT recently submitted an application to the Securities and Exchange Commission to do a P35.92-billion initial public offering.

“Amidst the COVID-19 pandemic, people have started to increasingly use digital platforms to complete a number of day-to-day tasks for which they demand an agile broadband network. Our network infrastructure will allow us to provide best-in-class broadband network to our subscribers especially during unprecedented times like these. We are confident that Nokia’s fiber solutions will enable us to enhance the overall quality of our services,” Converge ICT Founder and Chief Executive Officer Dennis Anthony H. Uy said.

Don Abad, head of customer team at Nokia Philippines, said: “We are delighted to support Converge ICT in its mission to provide superior broadband services to its customers. Our fiber solutions will help Converge ICT bring enhanced ultra-broadband services to its subscribers across the Mindanao region while our 7360 ISAM FX product portfolio will enable them to capture a greater share of the lucrative broadband services market.”

Nokia said its fiber solution will allow Converge ICT “to deliver a differentiated broadband service to customers.”

“The deployment uses fiber access nodes from the Nokia Lightspan FX series, which provides Converge ICT with the flexibility to use their fiber more efficiently and evolve to next generation technologies such as XGS-PON, 25G PON, next-generation PON line cards and Software Defined Access Network (SDAN), through a software upgrade,” it added. — Arjay L. Balinbin

Metrobank donates additional P30M to communities for 58th anniversary

EMPOWERMENT through dynamic partnerships has been at the heart of Metropolitan Bank & Trust Co.’s (Metrobank)anniversary for the many decades. This rings true as it celebrates 58 meaningful years of being the people’s ally in progress this year. A total of P30 million worth of grants was turned over virtually to social development partners during its annual giving-back tradition.

Coursed through its social arm, Metrobank Foundation, Inc. (MBFI) and Ty family’s GT Foundation, Inc. (GTFI), this year’s batch of beneficiary organizations received financial aid to implement their programs on health, education, arts, livelihood, and nutrition.

“The theme of this year’s event is collaboration. In these unusual times, our actions may be physically limited but through strategic partnerships, we can still achieve our objectives by working together,” said Metrobank and MBFI chairman Arthur V. Ty. “We at Metrobank have always looked at our anniversaries as an opportunity to give back and help the vulnerable and marginalized.”

PROMOTING HAND HYGIENE
As a member of the League of Corporate Foundations (LCF), MBFI will support #LCFWinS: Lingap Eskwela sa Pandemya Program. Collaborating with fellow corporate foundations, WASH (water, sanitation and hygiene) facilities will be constructed in select public schools nationwide. To complement the facility, hygiene kits and supplies will also be provided. MBFI’s donation will benefit almost 29 thousand students from 20 schools in Pasig, Mandaluyong, Quezon City, and Marikina, including La Union, Bulacan, Laguna, Rizal, Zamboanga City and Davao City.

REACHING MORE SCHOOLS
To reach out to more geographically isolated schools, MBFI renewed its seven-year partnership with the Yellow Boat of Hope Foundation. Aside from providing physical access to education for school children in the form of boats and school dormitories, MBFI will also provide in-kind donations of printers, copiers and risograph machines to aid teachers in the reproduction of the modules and learning materials. The donation shall benefit more than 20,000 students from 39 schools in the provinces of Cebu, Romblon, Zamboanga Sibugay, Camarines Sur, Sorsogon, Pampanga, Zambales, Bulacan, Basilan, Siargao, Tarlac, Capiz, Zamboanga del Sur, and Sulu.

Meanwhile, another donation of printers, copiers and risograph machines will go directly to select Department of Education public schools to benefit more than 23 thousand students from Manila, Navotas, Makati, Laguna, Sarangani, Leyte, Antique, Dipolog, Nueva Ecija, Iligan, Cavite, Iloilo, and Tarlac.

ART COMMUNITY GETS SUPPORT
To further solidify support for the local art community, MBFI also extended cash assistance to 200 visual artists whose main source of living was impacted by the crisis.

MINISTRY TO CURB POVERTY Another partnership renewed is that of the International Care Ministries. The donation will support their Transform and Prevail programs aimed at training and mentoring families living in ultra-poor communities on livelihood building skills. The assistance will cater to 222 households (1,110 individuals) from six communities in Cebu.

‘KINDNESS KITCHEN’ GOES SOUTH
From its previous donation to support the ‘Kindness Kitchen’ program of Ronald McDonald’s House Charities of the Philippines that served hot meals to 40 thousand individuals from NCR in April this year, MBFI will fund additional feeding activities. Families and frontliners from the cities of Cebu, Mandaue, and Lapu Lapu, and Davao province will be reached out to.

GT FOUNDATION STEPS UP TECH-VOC PROGRAM
GTFI, the family foundation of the late Dr. George Ty Siao Kian, believes that quality education and equitable healthcare are basic needs that should be made accessible to the underprivileged. Through its Scholarships for Technical-Vocational Education Program (STEP), out-of-school youth and underprivileged students can gain access to quality education that enable them to gain immediate employment.

The virtual event served as an opportunity to renew the partnership with Dualtech Training Center, Don Bosco Technical Institute, and Punlaan School. Over a period of three years, 150 Dualtech scholars will be supported to meet the manpower demands of specific industries. On the other hand, the three-year partnership with the Don Bosco Technical Institute will support the technical skills education of 135 scholars from their three centers. Lastly, 24 scholars of Punlaan School will have the opportunity to gain proper skills training on hospitality and culinary arts through a four-year agreement.

HEALTHCARE FOR INDIGENTS
Manila Doctors Hospital (MDH) serves as the healthcare affiliate of MBFI which offers social services to indigent patients such as hospitalization and consultation subsidies, medical missions, and other health-related interventions in select communities. Through the annual financial support of GTFI, the corporate social responsibility programs of MDH such as quality non-discriminatory inpatient and outpatient services and surgical operations will reach out to more indigent Filipinos in need of medical assistance.

LAPTOPS AND TABLETS FOR BLENDED LEARNING
To complement the National Government’s groundwork for a blended learning approach for the school year, GTFI launched Project PERFORM or Provision of Equipment to Reinforce Facility of Online and Remote Modality of Learning. The program is targeting to give laptops and tablets to more than 600 qualified students from public and techvoc schools, as well as GTFI and MBFI scholars.

“Sharing has been at the core of Metrobank’s anniversary for the last 58 years. Grants turned over to our partners are intended to benefit those whom they are helping. Our donations are expressions of gratefulness ingrained in our institutional culture,” said MBFI president and GTFI executive director Aniceto Sobrepeña.  “As we pursue these ideals, we do so honoring the memory of our founder Dr. George Ty Siao Kian. He envisioned a bequest that would go well beyond his lifetime, enabling and ennobling men to build a world where sound health, quality education, and productive lives are everyone’s portion,” he said.

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