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Repertory, MSO postpone performances to next year

TWO major cultural groups have announced the cancellations of their performance seasons due to the ongoing COVID-19 pandemic.

Repertory Philippines (Rep) will resume its theatrical productions in 2021, Rep’s Board of Trustees announced in a statement published on Facebook on May 7. Meanwhile, the Manila Symphony Orchestra (MSO) has also said that it is cancelling its 2020-2021 season due to the pandemic.

“We had no choice but to take this step to comply with the government’s regulations on mass gatherings and to ensure the safety of the MSO community and supporters,” the MSO said in a statement released to the press.

“Despite the current situation and limitations, we remain committed to bringing fine orchestral music to you,” said the MSO. “We are finding other ways to continue serving you through performing music that provides comfort and solace during these difficult times. We have recently created videos while in quarantine which we have dubbed ‘Tagpi-Tagping Damdamin: MSO in quarantine video series.’’ The videos are available on the MSO YouTube channel.

So far, the video series includes a performance of Ennio Morricone’s “Nella Fantasia” (https://www.youtube.com/watch?v=ceKQHi-9OKQ); “Tifa’s Theme” from Final Fantasy: (https://www.youtube.com/watch?v=Yls4gqDNkdw); and the Beatles song “Let it Be” (https://www.youtube.com/watch?v=wA33vfMIYMU).

The Rep Theater for Young Audiences (RTYA) production of Snow White and the Dwarfs, which was originally scheduled to run from Sept. 12, 2020 to Jan. 10, 2021, has been postponed for September 2021.

“[The] Department of Education (DepEd) and Department of Health (DoH) have deemed it unsafe for students to go out on field trips and tours this year, even after the resumption of classes this September. Since [the] majority of the RTYA audiences are students, Rep will duly hold off this production to next year,” the announcement said.

Rep’s production of the musical Carousel, which was originally scheduled for May 1 to 24, has also been pushed back to February 2021 as the opening production of its 84th season.

Meanwhile, this year’s Workshop for the Performing Arts is also canceled. Online workshops will be offered to interested students in July.

Rep will stay connected with audiences online through REPisodes, a series of digital shows on its Facebook page (https://www.facebook.com/repertoryphilippines/).

The second REPisode, titled “Stage Kiss and Tell,” features the cast and production team of Rep’s production of “Stage Kiss” — this year’s season opener — on May 11 (8 p.m.). Participants in the behind the scenes roundtable discussion include director Carlos Siguion-Reyna; set designer Ohm David; and cast members Missy Maramara, Tarek El Tayech, and Jamie Wilson. The project is in support of the Open House fundraiser (https://www.facebook.com/OpenHouseFundraiser/) which gives aid to displaced performing arts workers during the COVID-19 crisis. To donate, visit http://bit.ly/DonateOpenHouse.

Rep is also exploring possibilities of showcasing full length shows online.

The theater company also announced that season passes for the 83rd season may be refunded or applied for use for the 2021 season. For more information about this, e-mail marketing@repphil.org or repphilfoundation@gmail.com.

For more updates on the MSO, visit its Facebook page at https://www.facebook.com/manilasymphony/.

Investors keen on MPIC as stocks rise after Duterte apology

By Marissa Mae M. Ramos
Researcher

METRO Pacific Investments Corp. (MPIC) was among the companies whose stocks saw renewed investor interest after President Rodrigo R. Duterte’s apology to Manuel V. Pangilinan and the Zobel brothers over his remarks about the businessmen’s companies in recent months.

Data from the Philippine Stock Exchange showed a total of 533.84-million MPIC shares worth P1.48 billion being traded last week, making it the fourth most actively traded stock in the local bourse that time.

Shares in the Pangilinan-led company closed higher by 11.3% week-on-week to P2.86 apiece from P2.57 apiece on April 30. Year to date, the stock is down 14.9%.

“The biggest driver [last] week was the reconciliatory message of President Duterte to MPIC’s principals (the Pangilinan Group) and the Ayala Group,” PNB Securities, Inc. President Manuel Antonio G. Lisbona said in an e-mail.

The apology, according to Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco, “deescalated the tensions” between the government and two of the country’s biggest water concessionaires — MPIC’s subsidiary Maynilad Water Services, Inc. and the Ayala-led Manila Water Co., Inc.

“The move has lowered the perceived regulatory risks and has brightened the prospects on negotiations, tilting its direction towards a favorable water concession contract for both parties,” Mr. Tantiangco said in a separate e-mail.

Mr. Duterte apologized to the Zobel brothers and Mr. Pangilinan in a speech last Monday, which he said was triggered by the businessmen’s assistance during the coronavirus disease 2019 (COVID-19) crisis. MPIC’s per-share price gained 13.5% the next day.

Mr. Duterte also said he was open to drafting new contracts for the water concessionaires.

Late last year, Mr. Duterte threatened to file economic sabotage cases against Maynilad and Manila Water over allegedly onerous provisions in their contract with the government.

As of December 31, 2019, Maynilad is 52.8% and 27.19% owned by MPIC and DMCI Holdings, Inc., respectively.

Members of the so-called “MVP Group” have been actively working with the government in building quarantine sites and providing necessary medical equipment and other basic needs for frontline workers.

In the first quarter, MPIC reported a lower core net income — the first in its history — brought by the adverse effects of the enhanced community quarantine (ECQ) in mid-March to contain the spread of COVID-19. Core net income in the first three months dropped by 6% to P3.4 billion while net attributable income declined by 47% to P1.9 billion.

“[T]he decline in its core net income could get deeper this second quarter amid the longer period of the ECQ in mainland Luzon…,” Philstocks’ Mr. Tantiangco said.

He said the company’s light rail segment would be “one of the most heavily hit segments” as its operations were halted during the ECQ and will be expected to operate at a limited capacity once Metro Manila transitions to a general community quarantine.

Earnings of MPIC will still be driven by its segments on power and water albeit hit by weaker economic activities in commercial and industrial properties, Mr. Tantiangco said.

He added that “toll operations are still expected to be weighed by reduced toll road traffic amid the restrictions inland travel brought by the quarantine.”

For PNB Securities’ Mr. Lisbona: “It is likely also that the implementation of toll rate hikes will be deferred to the latter part of the year, another factor that will weaken toll road earnings,” he said, adding that they expect the company’s utility and healthcare businesses to “remain resilient but not pick up the slack.”

Both analysts pointed out the company has been preserving its cash position by postponing share buy-back operations.

“Currently, MPI’s current ratio is at 1.37 times, which shows that it has ample liquidity in meeting short-term obligations. Debt-to-equity ratio, meanwhile, is at 1.04 times, higher than its 5-year average of 0.78 times. This means that the company is getting more tilted to debt financing,” Philstocks’ Mr. Tantiangco said.

“MPIC’s fundamentals are currently challenged and this is expected to weigh on its share price movement. On the upside, however, the share could get a boost if there will be further positive developments on the negotiations between the government and Maynilad,” he added.

Mr. Tantiangco placed MPIC’s support at P2.50 and resistance at P3.

PNB Securities’ Mr. Lisbona said the company “has since regained some composure” since the peak of panic selling on March 23 when it closed at P2.28 apiece.

“We see support at P2.28 and P2.40 and resistance at P3.00 to P3.18 for the short-term,” he said.

MPIC is one of three Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being PLDT, Inc. and Philex Mining Corp. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., maintains an interest in BusinessWorld through the Philippine Star Group, which it controls.

WFH during the ECQ: BAVI’s Ronald Mascariñas

FORCED to do much of his work at home with the enhanced community quarantine in effect in the National Capital Region and nearby provinces, Ronald Mascariñas, Bounty Agro Ventures Inc. (BAVI) president and general manager, said that the setup is not much of an adjustment to him as he had been working from home on occasion even before the coronavirus disease 2019 (COVID-19) pandemic rendered outside movement limited.

He, however, said the current situation has been a challenge to the poultry company as a group, forcing them to recalibrate their business approach and taking into account the lessons and opportunities the situation presents.

BusinessWorld reached out to Mr. Mascariñas online where he got to share his experience working from home (WFH) and how COVID-19 would affect their business moving forward.

The interview has been lightly edited.

HOW MUCH OF AN ADJUSTMENT IS WORKING FROM HOME FOR YOU?

WFH is not new to me. I normally go to the office only for meetings or to sign documents which is about three times a week. I find no sense going to the office [and] open my laptop when I can do exactly the same from home (in Laguna) without throwing away three hours of driving.

A MONTH OR SO INTO THE ECQ, WHAT ARE THE UPSIDES AND DOWNSIDES YOU HAVE OBSERVED FROM DOING WFH IN RELATION TO WHAT BOUNTY AGRO VENTURES INC. WANTS TO ACHIEVE? ANY CHALLENGES YOU HAVE ENCOUNTERED IN DOING SO (E.G. SLOW INTERNET CONNECTION, DIFFICULTY REACHING YOUR OFFICERS, ETC.?

Communication was never a problem. My management team is used to getting e-mails, Facebook messages or phone calls from me from home. Globe installed some type of aerial antenna in my house many years ago so signal for voice calls is very strong.

WHAT IS YOUR PREFERRED MODE OF COMMUNICATION WITH YOUR PEOPLE (SKYPE, ZOOM, MESSENGER, E-MAIL, TEXT MESSAGE AND PHONE)?

In order of priority: 1. E-mail because I want communications organized in a folder; 2. Messenger; 3. Text message; 4. Phone

WHERE IS YOUR WFH OFFICE?

It is usually in the library but every now and then I do work at the patio.

HOW DO YOU START YOUR DAY FOR WFH? WHAT TIME DO YOU START WORKING? DO YOU DRESS UP FOR IT? UNTIL WHAT TIME DO YOU USUALLY WORK FROM HOME?

I usually start at 8 a.m., take my precious 30-minutes nap, and work until 11 p.m.

DO YOU TAKE BREAKS WHILE AT IT? IF SO, WHAT DO YOU DO?

My usual break is reading and answering comments from my over one million followers on my (Facebook) page. While I have a full-time page admin answering the comments, I need to guide her on how to answer FAQs for every new post I make. This gives me a real-time update on the pulse of my market. I watch one or two episodes on Netflix before going to bed. On Netflix I like House of Cards, Race to the White House and Bolivar. You should watch them.

ANY MEMORABLE EVENTS WHILE WFH?

We discovered two new strong trade channels during the quarantine. I am excited that we will come out stronger after this.

One of the new channels are the rolling stores, which we will continue even after the quarantine and another one is expanding our product offering, carrying basic products from other companies as none of the major companies organized to bring their products close to the locked-out communities.

For the second one, products we have carried to date were from sister companies Holly Farms for pork products and Bounty Farms for table eggs. Virginia Foods for processed meat products like hotdogs. Gardenia bread. We’re still finalizing which cooking oil to carry.

We have also relaunched our fresh produce business which we shelved 10 years ago. Clear opportunity from agricultural produce rotting in the countryside because they do not have a way to bring it to the consumers. This industry is bigger than the poultry industry.

WHAT ARE THE KEY POINTS YOU USUALLY TACKLE WHEN WFH? IS IT ANY DIFFERENT WHEN YOU ARE IN YOUR REGULAR OFFICE IN ORTIGAS?

Monitoring and reinforcing execution of the new trade channels. Management direction is very different since our traditional trade channels have been shut off by the quarantine restrictions. Our farms continue to produce the usual volume of chicken and we need to quickly find new markets for that.

APART FROM BAVI’S REGULAR BUSINESS, CHOOKS-TO-GO IN PARTICULAR, YOU ALSO ARE INVOLVED IN OTHER CONCERNS AS WELL, AMONG WHICH ARE 3X3 BASKETBALL AND THE MAHARLIKA PREMIER BASKETBALL LEAGUE. HOW DO YOU BALANCE THINGS SO EVERYTHING WILL BE COVERED?

I rely on my key personnel for execution. Once we agree on what needs to be done, I do not want them to bother me with day-to-day concerns. They message or call me only if it is urgent, otherwise they update me weekly by e-mail.

WITH HOW THINGS STAND RIGHT NOW, WFH WILL BE PART OF THE “NEW NORMAL” FOR THE IMMEDIATE FUTURE AT LEAST, HOW ARE YOU PREPARING FOR IT? IS IT BAVI READY FOR IT?

From Day One of the ECQ announcement, my stance was for a worst-case scenario that this will last up to the end of the year. While we lost close to 50% of sales from our traditional trade channels in the first week of ECQ, we are improving every week and are behind by just a little over 10%.

WHAT IS YOUR MESSAGE TO THE BUSINESS COMMUNITY AMID COVID-19 AND ECQ AND MOVING FORWARD?

We cannot just wait and watch until this is over. If we do, there might be no business left after the ECQ. — Michael Angelo S. Murillo

Exporters group seek fast passage of stimulus bill, more farm funds

By Jenina P. Ibañez
Reporter

PHILIPPINE exporters are calling for the immediate passage of the government’s economic stimulus bill, while requesting for increased funding for the agriculture industry and improved loan distribution for small businesses.

Their plea is in a letter dated May 5 through the Philippine Exporters Confederation, Inc. (Philexport) to Albay Representative Jose Ma. Clemente S. Salceda, who heads the Economic Response Stimulus Package cluster of the Defeat COVID-19 special committee in Congress, along with representatives Stella Luz A. Quimbo and Sharon S. Garin.

The House is currently legislating the proposed Philippine Economic Stimulus Act (PESA), which would inject P475 billion into the economy in the first year of its 2020 to 2022 coverage to help businesses recover from the effects of the coronavirus disease 2019 (COVID-19).

“Because of the urgent nature and impact of this bill, we strongly call for the bill to be passed in a month’s time especially for the benefit of our MSMEs (micro, small, and medium-sized enterprises) and their stakeholders, which account for some 60% of the country’s employment and 30% of our GDP,” Philexport President Sergio R. Ortiz-Luis Jr. said in the letter.

Philexport said it supports the position of the Philippine Chamber of Commerce and Industry, which called for more farming aid, public transport subsidies, and loans flexibility for MSMEs. Philexport proposed that the P10-billion budget for agri-fishery be at least doubled to help address productivity, technology, and climate change issues.

The export business group said the lending scheme from SB Corp. is welcome, but also proposes that Negosyo Centers be deputized to accept and review applications, especially in provinces.

“This function may also be delegated to industry associations also as a form of vetting. Likewise, anticipating the huge number of applications, we recommend that loan proceeds be distributed via bank transfers to lessen people movement and facilitate the release,” it said.

The group also said the digitization of government functions should be fast-tracked to improve trade facilitation and ease of doing business.

They also said that availing grants and loans from PESA should not disqualify businesses from availing of other forms of relief measures.

Philexport also asked for clarity on certain provisions, such as the application of PESA in Luzon businesses affected by the enhanced community quarantine (ECQ). The group recommended that PESA be applied to all businesses that have been critically affected by the pandemic nationwide.

Exporters also asked for clarity on the wage subsidy coverage for two months of payroll for critically impacted business, suggesting that the two months include the period covered by the ECQ and the month after its lifting.

“There should also be a provision stating the minimum requirements, at most Certificate of Employment and Compensation from the employer with just the latest payroll slip. Proceeds may be coursed through the employers who already have the payroll system to facilitate the disbursement,” Philexport said.

PESA is currently being discussed at committee level.

Casa de Memoria holds charity fundraising online auctions

CASA DE MEMORIA, Palacio de Memoria’s auction house, celebrates its fourth anniversary with two online auctions.

The two auctions — Primero auction and the Segundo anniversary auction — will be held at the official website (www.casadememoria.com) at 2 p.m. on May 30 and 31, respectively.

The auctions will showcase a curated selection of historical artworks, antiquities, and heirlooms of European-Filipino provenance.

The items for sale at the Primero auction include a rare “Islas Filipinas” map by mapmaker Francisco Coello and Antonio Morata; an ivory and bronze art sculpture by Louis Barthelemy of ethical provenance; an art nouveau lamp and a glass vase by Émile Gallé; and two 20th century Murano goblets.

For the Segunda anniversary auction, items for sale include paintings, furniture, sculptures and centerpieces, and religious antiques.

Segundo’s selection of paintings reflect the cultural richness of Europe during the 18th to 20th centuries, such as Pablo Picasso’s Sala Gaspar, and Betsy Westendorp de Brias’ Summer Nights in Madrid. The furniture on auction include a 19th century sofa, and a six-piece set of Carlos IV side chairs which are carved, painted, and gilded beech. Decorative art pieces include a cup-shaped centerpiece in rose quartz, an intricately decorated French amphora, a Peruvian altar piece by Manuel Palomino, and a Baroque-style golden reliquary of the virgin martyr Saint Euphrasia.

Proceeds from both auctions will go to funding the emergency quarantine facility (EQF) in Sta. Ana Hospital Manila for COVID-19 patients. Designed by WTA Architecture and Design Studio, the EQF can accommodate 15 beds, a testing box, sanitation and disinfection areas, and a nurse’s lounge.

“Our current situation, while it may be difficult, has taught us the value of helping one another. These two auctions are special for us as we enable ourselves to reach out to our community while showcasing the beauty and legacy of the illustrious past,” said Palacio de Memoria general manager Camille Lhuillier said in a press release.

Registration for both auctions is through bit.ly/CDMPrimero20. Absentee bids can also be placed prior to the live auction.

For more details, call 8253-3994 or e-mail hello@casadememoria.com. For more information, visit https://www.casadememoria.com/ or follow @thecasadememoria on Facebook and @casadememoria on Instagram. — MAPS

JoyRide motorcycle riders in quandary amid health crisis

By Arjay L. Balinbin
Reporter

MOTORCYCLE taxi company JoyRide is working to further develop its delivery business as its passenger services face an uncertain future due to the coronavirus pandemic.

Jose Emmanuel “Noli” M. Eala, vice-president for corporate affairs at JoyRide (We Move Things Philippines, Inc.), told BusinessWorld that the “new normal,” where everyone is expected to observe physical distancing rules, greatly affects the livelihood of motorcycle taxi riders.

“As far as JoyRide is concerned, we’ve already provided them the platform now. I think we will continue to develop this delivery platform to make it more convenient,” he said in a phone interview.

“We have already come up with two types of services: the delivery and the other one is Pabili. With the Pabili service, we are now able to sign up merchants where people can actually do concierge services for them, and I think that’s the area which we are trying to develop,” he added.

He said the company has convinced “a good number” of riders to shift from passenger services to delivery since the start of the government-imposed enhanced community quarantine (ECQ).

“Our delivery service actually started at a low point, but it has picked up exponentially in the last three and a half weeks,” he added.

“We have seen the potentials. We have also seen how the future might look with this quarantine. We believe that this is an area that we will be exploring even more, even beyond the quarantine. I think there are really good signs that people will need this kind of service in the future. Of course, we will still continue our passenger services, our motorcycle taxi, depending on what the government allows us to do in the future,” Mr. Eala continued.

The Transportation department’s pilot program for motorcycle taxis had ended last March 23.

“There has been no discussion on this obviously, and of course we will be waiting for Congress to craft the legislation. In the meantime, there is still a demand that we believe needs to be served in the future. We are confident that the government will see that the motorcycle taxi service is not only necessary but also safe. We have been collating all the data necessary to present to the government to prove that the motorcycle taxi service should be allowed and should be legalized,” Mr. Eala said.

AHC launches new brightening line

THE Unilever-owned Korean beauty brand AHC has launched a new line targeted for those who want brighter skin — the line can “improve skin pigmentation and reduce [dark] spots in just four weeks,” it promises in a release.

The new products join the previously available lines from AHC: the anti-aging line 365 and the hydrating Aqualuronic line.

Called Peony Bright, it includes five products — a foam cleanser (P1,699 for 40 ml), a toner (P1,799 for 150 ml), a serum (P2,099 for 140 ml), a spot corrector (P1,700 for 20 ml), and toning up cream (P2,449 for 50 ml).

The latter is a cream that is used at the end of one’s skin care routine (after moisturizers, if you use them) and is meant to brighten and even out one’s skin tone before applying makeup.

The line caters to people with oily or combination skin with a focus on problematic skin because of the spot corrector.

AHC — a brand that has gained popularity due to its availability in high-end aesthetic clinics in South Korea — uses pink peony flowers from Gangwon province, “the cleanest region in Korea that is famed for its pristine beauty,” according to the release.

The flowers are picked, aged, and fermented before the extraction of the active ingredients meant to brighten the skin.

AHC is available in several online stores nationwide. The prices stated are from Watsons.com.ph.

How to stay healthy according to Watsons

THE COVID-19 pandemic has changed how the world views health, and now, more than ever, it is important to keep healthy — and health and beauty chain Watsons Philippines has a few suggestions on how to do this.

“Our global health situation has affected us critically, and required us all to make well-being a top priority,” the company said in a release.

At the top of the list is to keep being active — even when indoors — for at least 30 minutes to an hour four times a week as regular exercise can “improve mood, help boost health of the internal organs, and strengthen the immune system.”

Eating healthy is also important and Watsons recommends eating more vegetables and incorporating immunity-boosting spices like garlic and ginger into dishes. Tea works too and Watsons is recommending the Nutrabliss tea line. According to its website, it currently has two variants: the Green Tea blend and the Green Tea and Cherry Blend. Both are priced at P279 for 16 tea bags per box.

Getting enough sleep also improves one’s heath, so does taking vitamins and supplements. Watsons is recommending its Watsons Generics Ascorbic Acid (P2.25 per tablet) alongside multivitamins like Conzace Soft Gel capsules (P12.50 each) which contains zinc and vitamins A, C, and E to “help boost immunity and promote healthy hair and skin,” according to the release. Meanwhile, Myra E 400IU (P12.25 per capsule) has vitamin E to “help fight cell damage.”

Kids can also take Growee Syrup (P171 for 120 ml) and Cherifer PGM (P191 for 120 ml).

One can also opt to use supplements to top up their health but consult your doctor first to see if you need supplements and which supplements to use.

The products can be bought online via Watsons.com.ph

Q1 farm, fishery sales rise by 12%, buck overall export dip

EXPORTS of agricultural and fisheries products rose 12% to $1.31 billion in the first quarter, the Department of Agriculture (DA) said, citing data from the Philippine Statistics Authority.

“This is a complete opposite of the total Philippine exports during the period, which dropped by 5.16% to $25.73 billion,” Agriculture Secretary William D. Dar said.

The largest agri-fishery export earners were banana, coconut oil, canned tuna, fresh or dried pineapples, desiccated coconut, other prepared fruits such as banana chips, carrageenan, prepared or preserved pineapples, and other cigarettes containing tobacco.

Banana was the top farm export commodity in terms of value, at over $489 million shipped out during the first quarter, followed by coconut oil, which rose 5.4% year on year to $232 million.

“Banana shipments bounced back from pre-enhanced community quarantine (ECQ) levels, although with minimal growth at 1.74%, due to the increase in buying prices of the fruit bound for China,” the DA said.

Exports of shrimp and prawn fell 17.2% to $77 million.

The DA said the agri-fishery sector was unaffected by the outbreak of coronavirus disease 2019 (COVID-19) during the period, as the enhanced community quarantine was only enforced during the last two weeks of the first quarter.

“The country’s major trading partners like Japan, China, South Korea and the European Union had not yet imposed import restriction policies at that time,” the DA said.

The DA said that it will push agriculture exports in the following months as it views the sector as a vital foreign exchange earner with the ability to provide employment to a large portion of the population.

“Agri-fishery exports will continue to play a major part as the country progresses to the “new normal” on the heels of the COVID-19 pandemic,” Mr. Dar said. — Revin Mikhael D. Ochave

Pangilinan sets sights on agriculture sector

BUSINESSMAN Manuel V. Pangilinan is exploring opportunities in agriculture as he expects the sector to play a bigger role in the country’s food supply chain.

In Friday night’s episode of The Chiefs, Mr. Pangilinan, who leads the so-called MVP Group of Companies, said he is looking to engage this week with an Israeli group that operates greenhouse facilities.

“Apparently there is an existing greenhouse operation run by Israelis, an Israeli group. So I’m meeting them next week. We should get into that situation,” he said Friday.

He noted he has been talking with Indonesian businessman Anthoni Salim about the latter’s greenhouse property in Batam Island, Indonesia. Mr. Pangilinan said Mr. Salim’s greenhouse operations in Batam Island is being used for planting vegetables that are exported to countries like Singapore.

“Sabi ko [I said], ‘That’s a very intriguing thought, because why can’t we do it here?’… I called him back, ‘Can we see the template of what you do? Because we want to replicate it here.’ Sabi niya [He said], ‘Sure’,” Mr. Pangilinan recalled from his talks with Mr. Salim.

Mr. Salim is the chairman of Hong Kong-based First Pacific Co. Ltd., which controls the three Philippine firms in the MVP Group: Metro Pacific Investments Corp., PLDT Inc., and Philex Mining Corp.

Mr. Pangilinan noted his group owns a 20-hectare property in Cavite and a 27-hectare property in Bulacan, which may be used for the agriculture venture.

The Filipino businessman said he wants to have a clearer picture of what the country’s supply chain looks like and where raw materials are sourced. He mentioned talking to economists from the University of the Philippines to draw up a supply chain blueprint of the country.

“We need to understand where these raw materials, including pharmacy, are coming from. So in a situation like this, we can identify where we can substitute the current supply chain that we have from abroad,” Mr. Pangilinan said.

He said he is taking cues from Socioeconomic Planning Acting Secretary Karl Kendrick T. Chua on which industries would thrive in the new normal. Some of these are agriculture, food production, pharmaceuticals, telemedicine, tele-learning, e-government, e-work, e-commerce and smart cities.

“It’s a whole range of possibilities that are emerging from this crisis,” Mr. Pangilinan said, noting these opportunities are attractive to the MVP Group.

The MVP Group currently has businesses in water, power, telecommunications, healthcare, tollways, rail operations, entertainment and media. It recently took interest in logistics and hospitality as well.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., maintains interest in BusinessWorld through the Philippine Star Group, which it controls. — Denise A. Valdez

Power cooperatives donate P12M to customers as lockdown subsidy

AN association of electric cooperatives pledged to donate P12.1 million to power utilities operating in the countryside for their electricity subsidies program in aid of poor customers affected by lockdown measures to fight the coronavirus disease 2019 (COVID-19) pandemic.

In a statement over the weekend, One EC Network Foundation, the foundation arm of the Philippine Rural Electric Cooperatives Association (Philreca), said its board of trustees passed in April a resolution donating P100,000 to each electric cooperative across the country.

Lately, all 121 rural cooperatives committed to cover the cost of electricity of their poor customers with at least 20 kilowatt-hours (kWh) of consumption, or the so-called lifeline consumers.

They said, however, that they may have different parameters in implementing the subsidies program.

The Pantawid Liwanag is a corporate social responsibility initiative led by Philreca to support over 3 million poor customers affected by the government’s quarantine measures.

To fund this program, the cooperatives have realigned their budgets from canceled activities, such as annual general membership assemblies and district election of directors.

An total of P365 million has already been allocated to implement the program, the group said, which is higher than its estimated P250 million budget.

The electric cooperatives said earlier that they plan to waive their qualified customers’ electricity bills falling from March 26 to April 25. — Adam J. Ang

Hip-hop singer LIRAH releases new love song

FILIPINO hip-hop singer LIRAH has released her newest single, “Bakit Hindi,” today. The song is about facing one’s budding romantic feelings for a friend.

Written during the ongoing COVID-19 quarantine, the song’s official music video, directed and edited by Sean Daniel Pollisco, was shot purely on mobile phone by Pollisco and Andreah Bermudez.

Lirah Bermudez, who goes by the stage name LIRAH, got her start in the industry at the tender age of 13 when she was named runner-up in GMA’s reality singing contest Protégé in 2011.

She also collaborated with rap singer Gloc-9 on the song “Asintado,” in 2014. It was the theme song for the Cinemalaya film entry of the same name, directed by Luisito Ignacio.

Her debut single “Sahod” earned her a Best New Artist nomination from Wave 89.1’s Year-End Awards 2019. “Sahod” was followed by a collaboration with Ex Battalion’s Bosx1ne and Flow G titled “Mahal Mo Rin Ba Ako?” this year. The song has been featured in several playlists including Apple Music’s Absolute OPM.

“Bakit Hindi” tells the story of a girl who is uncertain about the feelings her male friend has for her, and she begins to question her own feelings. The track was composed by Lester Vano, who also composed the viral hit “Nadarang” (2017), sung by rapper Shanti Dope. “Bakit Hindi” was produced and arranged by Samuel Mopal of Sandiwa.

LIRAH’s “Bakit Hindi” is available in all digital music stores starting May 8. — ZBC

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