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Nature through the eyes of Filipino and Chinese artists

BREATHTAKING landscapes and personal encounters in Palawan take focus on the Metropolitan Museum of Manila’s latest exhibit, In Harmony with Nature.

Done in partnership with the Bank of China and the Chinese Culture and Art Association Limited, the Metropolitan Museum of Manila launched the exhibit on Sept. 28 as part of its international arts and cultural exchange program for artists from China and the Philippines.

The project seeks “to cultivate fresh artistic encounters, current dialogues on environmental awareness, and enhanced understanding of cultural perspectives” and “cross-cultural linkages between China and the Philippines and the cultivation of new artistic encounters in respective unique locations,” a press release said.

Five artists were shortlisted for both countries. Participating artists from the Philippines are: painter, sculptor, and illustrator Manuel Baldemor; abstract painters Rico Lascano and Noberto Carating; painter Phyllis Zaballero; and watercolorist Jonahmar Salvosa; the Chinese artists are calligraphy artists and painters Kuku Chai Bukuk and Cai Zhixin; painter Ding Jie and Liu She; and printmaker Hao Ping.

“The Chinese artists were already chosen,” Metropolitan Museum of Manila president Tina Colayco told BusinessWorld about the shortlisting of Filpino artists, during the exchange program’s press launch in August.

“We just thought that we would do a match with artists who would have similar synergies,” she added, noting that all participating artists are established names in the art scene in their respective countries. For the Philippine leg of the exchange program, the 10 artists visited El Nido, Palawan in September to collect inspirations for their artworks.

Exhibit curator Desi Tolentino explained that Palawan has been “one of the ancient trade routes between the Philippines and China since the earlier centuries” prior to the colonization period.

The artworks include Manuel Baldemor’s landscapes (Early Birds) and marine life (Underwater World); Rico Lascano tranquil abstracts (Spatium Divinae); Norberto Carating’s bold colored abstracts painted with pumice gel, Tumauini #1; Jonahmar Salvosa’s cool-toned landscapes, Inherited Blessings, Dorocoy, My Island Happiness, and Bantilan, My Childhood Playground; Phyllis Zaballero’s nighttime landscape, Fireflies in the Iwahig River, and a bright beach painting, Crab; and Bukuk Chai’s Sea Turtle which shows a baby sea turtle with its tiny head above water.

After the exhibit walk-through, Ms. Tolentino told BusinessWorld that the activities aim to “create a more important dialogue on environmental awareness and ecological consciousness both in China and in the Philippines.”

The exhibition opening concluded with a live collaborative painting between the Filipino and Chinese artists. They created a seascape of Palawan with a shoreline and overlooking mountain ranges.

THE COUNTERPART EXHIBITION
After the exhibition in Manila, the 10 artists will go to Shenzhen, China on Oct. 20 to visit the city of Liling which is known for its traditional porcelain-making. They will take a tour to get inspiration for their paintings which will be shown in the upcoming counterpart exhibit in Art Wharf Gallery in Shenzhen, China on Oct. 26. A collaborative painting demonstration with the Chinese artists will also be held on the exhibition opening.

In Harmony with Nature is on view until Oct. 30 at the Bangko Sentral Gallery of the Metropolitan Museum of Manila, Roxas Blvd., Malate, Manila. Museum doors open at 10 a.m. to 5:30 p.m. from Monday through Saturdays; admission is free on Tuesdays. — Michelle Anne P. Soliman

LANDBANK asked to clarify details of PDS takeover

LAND BANK of the Philippines (LANDBANK) is moving closer to getting exemptive relief from the Securities and Exchange Commission (SEC) in line with its proposed acquisition of the Philippine Dealing System Holdings Corp. (PDSHC).

SEC Commissioner Ephyro Luis B. Amatong said they are currently reviewing LANDBANK’s application for exemptive relief which the state-run lender filed about two to three weeks ago.

“The application is under review, we already gave them a reply,” Mr. Amatong told reporters after the listing ceremony of Axelum Resources Corp. in Bonifacio Global City on Monday.

“We’re asking for clarity on the amendments to the fee structure, and then also they mentioned efforts to be more inclusive and fund agriculture, we want more detail on agricultural businesses (how they can) be more inclusive both to investors and to greater access to finance.”

LANDBANK needs to secure exemptive relief for the PDSHC acquisition since the Securities Regulation Code (SRC) states that no single group can own up to 20% of an exchange.

Item C of Section 33.2 of the SRC states that “no person may beneficially own or control, directly or indirectly, more than five percent (5%) of the voting rights of the Exchange and no industry or business group may beneficially own or control, directly or indirectly, more than twenty percent (20%) of the voting rights of the Exchange.”

However, the SRC also states that the commission may adopt rules, regulations, or issue an order defying the limit so long as “such ownership or control will not negatively impact on the exchange’s ability to effectively operate in the public interest.”

BusinessWorld sought Landbank’s comment on the matter but has yet to receive a reply as of press time.

Mr. Amatong did not answer when asked whether LANDBANK can get clearance within the year, but noted that discussions are “progressing.”

“Nagiging more focused na ’yung questions namin…Marami na silang substantive discussions sa application nila, kaya lumiliit ’yung requests namin for additional comments or clarity,” Mr. Amatong said.

LANDBANK said last July that it wants to acquire a 49% stake in PDSHC before the end of the year, already securing commitment from about 21% of shareholders at the time. It has set an offer price of P215 apiece for the shares.

The bank expressed its intention to increase its stake in PDSHC amid the Philippine Stock Exchange, Inc.’s (PSE) longstanding plan to merge the country’s capital markets. The PSE, however, has yet to bring down broker ownership to meet the single industry limit, consequently failing to secure exemptive relief for the PDSHC buyout.

Finance Secretary Carlos G. Dominguez, who also acts as LANDBANK’s chairman, earlier said that the delays in the PSE’s acquisition of PDSHC hampered the growth of the capital markets. — Arra B. Francia

Cultural activist Carlos Celdran, 46

CARLOS CELDRAN, the artist and activist who loved the glorious mess of Manila, passed away at the age of 46 in Madrid, Spain. His death was announced in a Facebook post by his wife, Tesa. “As the family is making arrangements to bring him home, no details can be announced yet. Only that he passed from natural causes,” the post said.

A social gadfly who riled up those in power, Mr. Celdran decamped to Madrid in January 2019 after being convicted of blasphemy. His Damaso performance, a one-man protest against the Catholic Church’s meddling with a woman’s right to birth control, “offended religious feelings” to the point of litigation. “I left the Philippines due to an aggressive political climate and human rights reasons,” Mr. Celdran wrote on his blog.

In February 2018, Mr. Celdran mounted the first edition of the Manila Biennale, an art festival that aimed to revitalize both Intramuros and the art scene by transforming the Walled City into a vibrant arts-and-cultural center. “I’ve always found art to be the most powerful way to change society, change the status quo. I think it’s always better to inspire than to intimidate. Because there are only two ways of making Filipinos change: you force them to change or you inspire them to change. And the best thing to use is art,” Mr. Celdran said in an interview.

He was also known for his Livin’ La Vida Imelda performance, an entertaining but pointed examination of the Marcos years, “a period when geopolitics and contemporary art intersected — sometimes with tragic consequences for the Philippines.” Or, in a more Celdranesque turn of phrase, the one-man show was about “the shoes, the hair, the architecture, and the fascism that was so in fashion at the time.”

His walking tours of Intramuros, which he conducted for 17 years in his signature black bowler hat, allowed him to share his love of Philippine history to a great many people. Mr. Celdran was the perfect tour guide: funny, whip-smart, and ebullient.

Prior to donning bowler hats and bunny ears, Mr. Celdran, at the age of 14, was a cartoonist for Business Day. He graduated with a fine arts degree from the Rhode Island School of Design in the United States in 1996.

Mr. Celdran’s energy and optimism will be missed. The Manila Biennale, which turned out to be a polarizing endeavor, was Mr. Celdran’s attempt to rouse the art community from the doldrums. “To save our soul, this is us telling our fellow artists to let’s get our shit together.” We will not easily find another like Celdran. — Sam L. Marcelo

Metro Manila still at risk of water shortage next summer — former MWC exec

By Victor V. Saulon, Sub-Editor

METRO MANILA remains at risk of a water shortage next summer as Angat Dam remains the sole supply source, but local government units in the Philippine capital can help avert another crisis through water demand-side management.

This is the view of Ferdinand M. dela Cruz, former president and chief executive officer of Manila Water Co., Inc. (MWC), who expects the city’s mayors to come up with a common stand to encourage consumers to be more conscious of their water use.

“What I did about three months ago was to approach sila Chairman Danny (Danilo D.) Lim ng (of) MMDA (Metropolitan Manila Development Authority) kasi (because) we needed the mayors to start talking about the demand side. Some mayors did during the crisis,” he said in an interview.

A water crisis hit Manila Water early this year when Angat Dam’s water flow of 46 cubic meters per second, translating to 4,000 million liters per day (MLD) or 1,600 MLD for the company, failed to keep up with a demand of about 1,740 MLD.

The situation was worsened by the El Niño phenomenon, which did not allow the dam to maintain its ideal elevation. A new water source in Cardona, Rizal was also not completed on time.

In April, the Metropolitan Waterworks and Sewerage System, which regulates Metro Manila’s east zone water concessionaire, imposed a penalty on Manila Water amounting to P1.134 billion.

Mr. Dela Cruz, who resigned in August from Manila Water, said the suggestion of a water demand-side management was warmly received by MMDA’s Mr. Lim. He said what the company was advocating was more encouragement from local government units (LGUs) on the prudent use of water.

“And if there could be local ordinances,” he said, pointing to possible regulation on the use of water for watering plants and washing vehicles.

“So we’re challenging the LGUs, ano ang pwede nating gawin (what can we do)? It could be an ordinance to limit [the use of water]. We’re giving them ideas but of course sila dapat magtulak noon (they should be the one to push it),” he said.

The ideas include water recycling and water harvesting when it rains, but not “imposing,” Mr. Dela Cruz said, adding that the discussions among LGUs are easier now after their constituents went through a water crisis.

He said on the supply side, Manila Water is prepared and has a roadmap on future water sources, including Wawa Dam and Laguna Lake.

By next summer, Mr. Dela Cruz said the situation may have improved but Kaliwa Dam, which is expected to be Metro Manila’s medium-term water source with 600 MLD, will still not be completed.

“The issue is what will be the level of Angat during summer,” Mr. Dela Cruz said. “That is the big question mark. You cannot replace 1,600 MLD.”

“We have to hit [an elevation of] around 212 to 214 [meters] by yearend,” he said, referring to a comfortable level before the summer months. “Depende pa rin ’yan (That still depends on) how much they give irrigation.”

Tribute show tonight for theater icon Tony Mabesa

TONY MABESA — TONY MABESA’S FACEBOOK PAGE

THERE will be a program honoring the “Lion of the Theater,” Antonio “Tony” Mabesa, who passed away last Friday after a seven-decade career in theater and film. Tonight for Tony: A Celebration will be held today at 4 p.m. at the University of the Philippines, Diliman in Quezon City.

Mr. Mabesa passed away on Oct. 4, at 10:20 p.m. He was 84.

Screenwriter Floy Quintos wrote on Facebook that day: “We, the family of Antonio Mabesa, are saddened to announce his passing. Sir Tony joined his creator at 10:20 this evening. He was surrounded by family and friends.

“We thank you for your prayers. We hope you can respect the family’s wish for privacy at this time,” Mr. Quintos added.

Born in Laguna in 1935, Mr. Mabesa began his journey in the theater by directing school plays at UP Rural High School. He went on to study at the University of the Philippines where he was mentored by National Artist for Theater Wilfrido Ma. Guerrero. He earned masteral degrees in theater arts at the University of California in Los Angeles in 1965, and in education at the University of Delaware in 1969.

In 1976, he founded the theater organizations Dulaang Unibersidad ng Pilipinas and its umbrella group, UP Playwight’s Theater where he was mentor to renowned actors such as Nonie Buencamino, Shamaine Centenera-Buencamino, Eugene Domingo, and Irma Adlawan.

Mr. Mabesa worked on more than 170 shows and also ventured into acting for film and television. His notable films include Tukso Layuan Mo Ako! (1991) and Kristo (1996); his latest role in television was Pedro Tansico in GMA7’s family drama series Hiram na Anak (2019).

In 2018, Mr. Mabesa played his last role in film as the late Eddie Garcia’s lover in the 2018 Metro Manila Film Festival (MMFF) LGBT-themed family drama, Rainbow’s Sunset, where he won the award for Best Supporting Actor.

Dulaang UP’s latest play, Fuente Ovejuna, which he directed, opens on Nov. 8.

Friends, family, and mentees expressed their condolences and appreciation for the late actor and director.

Shamaine Centenera-Buencamino on Oct. 5 wrote on Facebook: “My theater mentor passed away last night. Thank you sir Tony Mabesa. Not just for the acting lessons but for inspiring us to be our best in life. We love you and we will always be grateful that you became part of us. Please pray for the eternal repose of the soul of this beloved man. Bravo sir! Goodnight and may your soul rest in peace.”

On Facebook, theater director Dexter M. Santos wrote of his experience as a student of Mr. Mabesa and concluded with: “We all have our own special ‘Mabesa’ experience. Life lessons that molded us and made us survive this unforgiving industry. Memories that will forever be etched in our hearts. MARAMING SALAMAT PO SIR TONY… SA LAHAT LAHAT. You are not only a father to your ‘Mabesa Babies.’ You are not only a father to every UP Theater Major. You are a father to anyone who has been part of every Dulaang UP, UP Playwright’s Theater, and UP Dulaang Laboratoryo Production. You will be missed.”

Friends and colleagues who wish to pay their respects to Mr. Mabesa may visit Hall A at the Arlington Memorial Chapels and Crematory in Araneta Avenue, Quezon City. Interment details are to follow. — Michelle Anne P. Soliman

NIA, First Gen to develop hydroelectric power project

THE National Irrigation Administration (NIA) has signed a memorandum of understanding (MoU) with Lopez-led First Gen Hydro Power Corp. to develop a hydroelectric power project at the Aya Dam in Pantabangan, Nueva Ecija.

“In line with this, First Gen has requested NIA’s permission to conduct a comprehensive feasibility study of the project, including but not limited to, legal, economic, social, financial, and technical viability, to which NIA has permitted the former to conduct the same,” NIA said in a statement on Tuesday.

The government agency that oversees the development of irrigation systems in the country said the MoU will complement with the existing Pantabangan-Masiway hydroeletric power plant through an acceptable scheme under existing laws, such as the Renewable Energy Act of 2008 (Republic Act No. 9513).

The MoU was signed on Tuesday at its head office in Quezon City. NIA Administrator Ricardo R. Visaya and FG Hydro Vice-President Dennis Michael P. Gonzales signed the deal.

The 132-megawatt (MW) Pantabangan-Masiway hydroelectric power plant complex in Nueva Ecija is owned and operated by FG Hydro. The complex has two components: the then 112-MW Pantabangan hydroelectric plant component that was commissioned in 1977 and the 12-MW Masiway hydroelectric plant portion that was commissioned in 1981.

Both plants are part of a multipurpose hydro complex that supplies irrigation water for the vast rice fields of Nueva Ecija, around 180 kilometers northeast of Metro Manila.

FG Hydro is owned 40% by First Gen Corp. and 60% by Energy Development Corp. — Victor V. Saulon

BPI begins LTNCD offer

BANK OF THE Philippine Islands (BPI) launched a P3-billion offering of long-term negotiable certificates of time deposit (LTNCTD) on Monday to diversify its funding sources and support its expansion plans.

The P3 billion worth of LTNCTDs have a tenor of five-and-a-half years, the Ayala-led bank said in a disclosure to the local bourse yesterday, with the lender having the option to upsize its offer volume.

The offer period for the debt instruments will run until Oct. 16, with the issue and listing dates set for Oct. 25. However, the bank can adjust the timing of the offer if needed, it said.

The LTNCDs carry an interest rate of four percent per annum which will be paid quarterly. The papers can be bought for a minimum investment of P1 million and in increments of P100,000 thereafter.

Hongkong and Shanghai Banking Corp. Ltd. is the sole arranger and participating selling agent of this deal, while BPI Capital Corp. is the sole selling agent for the LTNCDs.

BPI, in a filing on Monday, said the central bank has approved its plan to offer up to P50 billion in LTNCDs.

The LTNCDs will be offered in one or more tranches.

The P3-billion offering it started on Monday constitutes the first tranche of the program.

“The issuance will support BPI’s expansion plans and diversify the bank’s funding sources,” the Ayala-led lender said in the disclosure.

LTNCTDs are like regular time deposits that offer higher interest rates but cannot be pre-terminated by holders.

However, the notes can be traded on the secondary market prior to maturity, making them “negotiable.”

In 2017, the bank launched a P30-billion LTNCD program in a bid to expand its funding sources.

BPI last month issued $300 million in ASEAN green bonds and two-year 100-million Swiss franc-denominated negative-yielding green bonds as part of its $2-billion medium-term note (MTN) program established in June last year.

In its maiden drawdown from the MTN, BPI raised $600 million in August last year via five-year senior unsecured fixed-rate bonds quoted at 4.25%.

The Ayala-led lender posted a net income of P7.01 billion in the second quarter, up 46.8% from a year ago, amid strong interest and non-interest income growth.

This brought BPI’s bottom line for the first semester to P13.74 billion, up 24.6% from the P11.03 billion booked in the same period last year.

The bank’s total revenues for the first half climbed 23.3% to P45.9 billion, brought by the 24.1% year-on-year growth in net interest income, which reached P32.36 billion.

BPI shares closed at P92.20 apiece on Tuesday, dropping 80 centavos or 0.86%. — BML

Rich spend millions on art as Hong Kong protests rage nearby

AS VIOLENCE escalated in Hong Kong over the weekend with protesters starting fires and throwing petrol bombs and police responding with tear gas, a roomful of Asia’s elite gathered to bid on art and wine.

The venue was the city’s convention center near where the protests took place, part of Sotheby’s five-day marathon, which continues through Tuesday. The sales include 20 live auctions and targets more than $336 million.

The highlight of Sunday’s contemporary art auction was a new world record for Japanese artist Yoshitomo Nara, whose painting of a cute but menacing cartoon girl — Knife Behind Back — sold for $24.9 million.

The jewels, wines, watches and fine art on offer this week — as well as the eye-watering prices — represented a jarring contrast to the events in the streets.

Video footage showed a bloodied taxi driver who was dragged out of his car and stomped by a group of protesters after the vehicle hit some of them. On Friday, a 14-year-old boy was shot and injured — the second such incidence of the week — during a scuffle between a plain-clothes police officer and demonstrators who had attacked his car.

The protests followed warnings from opposition leaders that Chief Executive Carrie Lam’s decision to invoke a colonial-era emergency law banning protesters from wearing face masks would only make matters worse.

Back at the auction, the Nara painting drew six bidders and sold in 10 minutes at a price that was five times the artist’s auction record, according to Sotheby’s. The seven-foot by seven-foot canvas was completed in 2000, when Nara returned to Japan after 12 years in Germany.

On Saturday, Sotheby’s sold a canvas by Chinese émigré artist Sanyu for $25.2 million, with four bidders pushing the painting of a nude female above its $19 million target. In the same sale, Zao Wou-Ki’s 21.04.59 sold for $13.3 million. — Bloomberg

Art, antiques at Leòn’s latest online auction

 

LEÒN XIII, the 13th online auction of León Gallery under the Leonexchange platform, will be held on Oct. 19 and 20 starting at 11 a.m. All bidding will be purely online at www.leonexchange.com.

Among the highlights of the auction are antiques from home of Martin Jesus Tadeo Imperial “Sonny” Tinio, Jr., including tables in all shapes and sizes of valuable hardwood, inlaid with mother of pearl and bone or topped in marble alongside intricately designed mirrors, art nouveau frames, wooden sculptures, and an array of canes embellished with gold, gemstones, and ivory. Tinio designed Casa Manila in Intramuros; restored ancestral homes in Taal, Batangas and Kawit, Cavite; and, is remembered as an antiquarian, collector, genealogist, historian, interior designer, scholar, and writer.

Also to be auctioned are paintings Aleah Angeles; Angelito Antonio, who was among the first batch of CCP’s Thirteen Artists Awardees; Norma Belleza, a feminist proponent of folk art; Dex Fernandez, known for his “Garapata” trademark and an Asian Cultural Council grantee; muralist and designer Froilan Calayag; Zhou Ling, known for her feminist Earth Mother imagery in the Yunnan Art School style; abstractionist Jigger Cruz; and Juvenal Sanso, the Filipino-Spanish master acclaimed for his impressionistic landscapes, among others.

Among the collectibles on the block are crystal and silver pieces, chinoiserie, Filipino period furniture, fine China, coffee table books, and rare photographs.

An exhibition of the pieces up for auction will open to the public on Oct. 14, from 10 a.m. to 6 p.m. at Leòn Gallery in Warehouse 14 La Fuerza Plaza, 2241 Chino Roces Ave. and at the G/F Eurovilla 1 Legazpi corner Herrera St., Legazpi Village, Makati City.

To join the online auction, go to www.leonexchange.com and registering as a buyer. Visit www.leon-gallery.com or contact info@leon-gallery.com or call 856-2781 for more information.

Arthaland incorporates new unit

ARTHALAND Corp. has subscribed to P12.5 million worth of shares in its newly incorporated joint venture firm with Japanese partner Mitsubishi Estate Co., Ltd.

In a disclosure to the stock exchange on Tuesday, the niche property developer said it incorporated Kashtha Holdings, Inc., after which it subscribed to 12.5 million shares worth P1 each.

Arthaland earlier disclosed that its joint venture with Mitsubishi Estate will be buying a 40% stake in its unit Savya Land Development Corp. (SLDC), which in turn is developing Savya Financial Center in Taguig City together with Arcosouth Development, Inc.

This means that Kashtha Holdings will have a 50% stake in SLDC.

SLDC is currently developing Savya Financial Center, a two-tower office development standing on a 5,991-square meter lot in Arca South, Western Bicutan, Taguig City.

Launched last March, the project will have a gross floor area of 59,856 sq.m with a total of 18 floors each. It will offer 332 units sized from 86 to 4,264 sq.m., while also having access to 700 parking slots.

Savya Financial Center will also house 12 units for retail tenants covering a total of 1,545 sq.m. Amenities include a landscaped bridgeway deck garden and a signature lobby.

The building has been designed with sustainable features in mind, including energy efficient air-conditioning system, material recovery facility, efficient waste management system, and dedicated low-emitting fuel efficient vehicle parking provisions.

It has been registered for dual certification in the US Green Building Council’s Leadership in Energy and Environmental Design (LEED) and the Philippine Green Building Council’s Building for Ecologically Responsive Design Excellence (BERDE).

Units are scheduled to be turned over by December 2023.

In an earlier statement, Arthaland said it will take the lead in managing the property’s operations, while Mitsubishi Estate will help improve the project’s value by providing expertise.

Arthaland’s net income attributable to the parent grew 12-fold to P446.29 million in the first half of 2019, against earnings of P34.55 million in the same period a year ago. This came after gross revenues climbed to P1.08 billion in the same period, from only P210.78 million in the first semester of 2018.

Shares in Arthaland jumped 4.82% or four centavos to close at 86 centavos each at the stock exchange on Tuesday. — Arra B. Francia

Armed Forces and Police General Insurance Corp. to cease operations

THE ARMED FORCES and Police General Insurance Corp. (AFPGen) has ceased its operations as a non-life insurance firm as the business is no longer financially viable, the Insurance Commission said yesterday.

Insurance Commissioner Dennis B. Funa said in a statement on Tuesday that AFPGen has voluntarily surrendered its license to sell non-life insurance products and has applied for a servicing license instead.

While the insurer’s 2018 net income was compliant with the P550-million net worth requirement, Mr. Funa said AFPGen has seen the financial health of its insurance business “continuously erode” in the past years.

“While the company’s net worth as of end-2018 is compliant with the existing P550-million net worth requirement, the company said that it is no longer viable to maintain its insurance business considering that its financial health continuously eroded in the last six years,” Mr. Funa was quoted as saying in the statement.

Under Republic Act 10607 or the Amended Insurance Code of the Philippines, new industry players are required to have P1 billion in paid-up capital, while existing insurance companies need to maintain a paid-up capital of P550 million by December 2016, P900 million by December 2019 and P1.3 billion by December 2022.

Mr. Funa said all of AFPGen’s issued policies prior to its surrender of its license remain valid, existing and binding.

An overseer has been appointed to monitor the company for its compliance with all of its outstanding liabilities to its stakeholders, the official said.

“Now as a servicing insurance company, AFPGen’s operation is limited to servicing its existing policyholders. All insurance contracts and policies issued by AFPGen shall remain to be valid and AFPGen is required to fulfill its obligation under these contracts,” Mr. Funa added.

The withdrawal and cessation of AFPGen’s operations will only be approved by the IC after it has settled al its obligations to clients and the creditors.

According to AFPGen’s 2018 annual report, it has issued 65,568 non-life insurance policies, the bulk of which were for migrant workers and motor cars.

Established in 1977, the company caters to the non-life insurance needs of the country’s military and police organizations. — BML

LRT-1 operator’s ISO certifications renewed

LIGHT Rail Manila Corp. (LRMC), the operator of Light Rail Transit Line 1 (LRT-1), has renewed two ISO certifications of its compliance to international standards in quality management and environmental management systems.

The company said in a statement Tuesday it received an ISO 9001:2015 and ISO 14001:2015 certification from third-party auditor TUV Rheinland.

Receiving an ISO 9001:2015 certification means the company was able to “consistently provide products and services that meet…statutory and regulatory requirements.”

Meanwhile, an ISO 14001:2015 certification means that a company promotes systems that focus on enhancement of environmental performance, fulfillment of compliance obligations and achievement of environmental objectives.

“We are happy to share this achievement because it is a result of our teamwork and commitment to quality. LRMC is committed to pursuing initiatives to modernize and improve LRT-1…,” LRMC President and Chief Executive Officer Juan F. Alfonso was quoted as saying in the statement.

Specifically, LRMC said it was commended for improved passenger queueing, shorter train headway, reduced cycle time and increased daily trips.

“With the privatization of the country’s oldest railway system, we were able to improve the safety, security and cleanliness of the stations as well as the quality and efficiency of services offered to customers,” LRMC Director for Health Safety Environment and Quality (HSEQ) Andrea Mellind C. Madrid said.

LRMC holds the 32-year concession to operate, maintain and develop LRT-1, which it took over in September 2015.

The company is a consortium of Ayala Corp.’s AC Infrastructure Holdings Corp., Metro Pacific Investments Corp.’s (MPIC) Metro Pacific Light Rail Corp. and Macquarie Infrastructure Holdings (Philippines) Pte. Ltd.

MPIC is one of three Philippine subsidiaries of Hong Kong’s 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. — Denise A. Valdez

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