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Great deals await you at UCPB Auto Warehouse’s Valentine weekend deals

Make your heart race this Valentine’s season with exciting deals at the UCPB Auto Warehouse!

Enjoy up to 10% discount on the published selling price of an array of affordable and quality pre-owned cars ranging from compact and subcompact cars, sedans, family vans and trucks until February 29, 2020.

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The UCPB Auto Warehouse is open every day including holidays from 8:30 am to 7:00 pm. Go to www.ucpb.com/propertiesforsale for the complete list of available vehicles. Watch out for upcoming weekend deals by checking the UCPB website or liking the UCPB Facebook page. For Waze users, type UCPB Auto Warehouse-Oyster Plaza Parañaque.

Promo runs from February 13, 2020 to February 29, 2020. Per DTI Fair Trade Permit No. 02985, Series of 2020. Terms and conditions apply.

PearlPay Indonesia partners with Association of Rural Banks in Central Java

Filipino fintech PearlPay further expanded their presence in Indonesia through a strategic partnership between PT Mutiara Garuda Digital (PearlPay Indonesia) and the Association of Rural Banks in Central Java (Perbarindo Perhimpunan Bank Perkreditan Rakyat Indonesia DPD JAWA TENGAH).

The signing, which took place last February 24, 2020, will kickstart the digital transformation of 252 rural banks in the province, granting them access to PearlPay’s end-to-end digital banking solutions. This new partnership more than doubles PearlPay’s network of rural banks in Southeast Asia, providing them with the means to expand and serve more people.

“I understand that rural banks are in the best position to be purveyors of innovative technology, better financial inclusion, and more regional economic development,” said PearlPay Indonesia CEO Mr. Yoni Depari.

Before taking on the role of leading PearlPay’s Indonesian operations, Mr. Depari served as the Deputy Director at the Central Bank of Indonesia.

According to Pak Dadi Sumasarna, President of the Association of Rural Banks in Central Java, the affordable pricing of PearlPay’s platform will help rural banks participate and thrive in the digital economy. Currently, the association is serving 1.5 million depositors. But by digitizing the rural banking industry, banks can further improve their capabilities and speed up their processes, helping them to potentially address the financial needs of 34.5 million Indonesians in Central Java.

National government fiscal performance (December 2019)

INFLATION may have quickened slightly in February due to higher food prices, which was likely offset by lower utility and oil prices amid the coronavirus disease 2019 (COVID-19) outbreak and subsiding risks from the Taal Volcano eruption. Read the full story.

National government fiscal performance (December 2019)

Budget gap widens to record P660B

THE BUDGET DEFICIT widened to a record P660.2 billion in 2019, as the government spent nearly P500 billion, mainly for infrastructure projects and social protection programs, in December alone.

Data from the Bureau of the Treasury (BTr) released on Thursday showed expenditures of P3.797 trillion jumped by 11.42% for the full year, outpacing the 10% rise in revenues to P3.137 billion.

The full-year budget gap breached the P620-billion deficit programmed for the year, and is 18.27% higher than the P558.3- billion deficit in 2018. This translated to 3.55% of gross domestic product (GDP), exceeding the 3.25% limit for the year.

The Development Budget Coordination Committee (DBCC) set a budget deficit ceiling of P610 billion or 3.2% of GDP for 2019.

“Expenditures sped up despite the delay in the approval of the 2019 budget as line agencies caught up with spending towards the latter part of the year,” the BTr said in a statement.

For December, expenditures surged 57.83% to P494.4 billion — the highest-ever monthly spending recorded, while revenues grew by 4.77% to P243.3 billion.

“In particular, disbursements for the month of December surged by P181.1 billion… backed by strong infrastructure spending of the DPWH (Department of Public Works and Highways), implementation of social protection programs and services of the DSWD (Department of Social Welfare and Development), and personnel services expenditures with the grant of the Service Recognition Incentive, payment of pension and retirement benefits, as well as requirements for the creation and filling of positions in various agencies,” the BTr said.

The budget shortfall for December widened to P251.1 billion from an P81 billion deficit in the same month in 2018.

“The higher spending recorded in December could help offset the potential effects of the virus fallout,” Jonathan Ravelas, chief market strategist at BDO Unibank Inc., was quoted by Bloomberg as saying. “If they are able to continue this pace of spending, it could help the economy more.”

Like many Asian countries, the Philippines is looking to cushion the economic impact of the coronavirus disease 2019 (COVID-19) which continues to spread around the world.

Nicholas Antonio T. Mapa, senior economist at ING Bank NV-Manila Branch, said he expects the strong government spending in the first half to “insulate” the economy this year as COVID-19 will likely curb household spending.

He also said the strong spending data could prompt an upward revision of the 2019 GDP growth to six percent from its current 5.9%.

“The surprise surge in spending in December is reflected in the aggressive borrowing stance of the BTr of late and we can expect this behavior to continue given the concurrent 2019 and 2020 budgets running parallel this year,” Mr. Mapa said in a note sent to journalists.

SPENDING SURGE
Actual government expenditures last year exceeded the BTr’s P3.769-trillion spending plan by 0.74%.

Broken down, primary expenditures — total spending net of interest payments — reached P3.436 trillion last year, exceeding the P3.370-trillion program and 12.34% up from the P3.059 trillion spent the previous year.

Interest payments also rose 3.34% year-on-year to P360.9 billion, but was 9.68% below the P399.6-billion target.

The BTr said interest payments as a percentage of revenue and expenditures declined to 11.50% and 9.50%, respectively (from 12.25% and 10.25% in 2018), “highlighting affordability and sustainability in the country’s debt and borrowing operations.”

Meanwhile, national government revenues increased by 10% to P3.137 trillion in 2019, falling 0.39% short of the P3.149-trillion program for the year.

Broken down, tax collections accounted for the 90.1% or P2.827 trillion of the year’s total revenues. While tax collections increased 10.21% year on year, the figure was still 4.3% short of the P2.955-trillion target last year.

“Revenue effort went up to 16.86% from 16.36% in 2018 and exceeded the program of 16.51% [while] tax effort [stood at] 15.19% lower than the goal of 15.49% but higher than the previous year’s 14.72%,” the BTr report read.

The Bureau of Internal Revenue (BIR) collected P2.175 trillion last year, up 11.46%, while the Bureau of Customs collected P630.3 billion, a 6.27% increase from year-ago figures.

However, the country’s two largest tax-collecting agencies fell short of their targets, with BIR’s tax collections 4.22% lower than its P2.27 trillion goal and BoC’s collections 4.65% less than the P661.0-billion goal.

The BTr said the BIR missed its target due to lower revenues from the excise tax on fuel and sweetened drinks, while Customs’ shortfall was mainly due to the stronger peso and lower volume of importations.

Meanwhile, taxes collected by other offices inched up 5.33% to P22 billion but were 4.27% short of the P23-billion collection target.

Revenues from non-tax sources rose 8.9% to P309.7 billion, exceeding the P194.2-billion target by 59.41%.

“Although total revenue was growing 10.08% y-o-y, government must be prudent and careful about budget deficits and being able to do what was set to be done,” UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion said in a Viber message.

For Mr. Asuncion, the fiscal deficit will likely exceed its ceiling again this year at 3.2% of GDP as the government is expected to provide fiscal stimulus to support economic growth this year, targeted to land within the 6.5-7.5% band. — Beatrice M. Laforga with Bloomberg

National government fiscal performance (December 2019)

Central bank mulls more rate, RRR cuts

THE CENTRAL BANK may cut rates by more than 25 basis points (bps) this year as the government looks to boost growth amid fears of an economic fallout due to the global spread of the coronavirus disease 2019 (COVID-19), its chief said on Thursday.

In a briefing at the central bank’s headquarters, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said they will reassess how the virus could hit the economy as the outbreak worsens, with more cases confirmed outside China.

“I’m not totally ruling out an additional cut of more than 25 bps this year. Definitely there will be another 25[-bp cut]. I’m not ruling out [a cut worth] 50 or 75 bps,” Mr. Diokno told reporters.

He, however, said he remains positive the economy will expand by six percent this year despite emerging risks.

“We are still confident that we will still hit six percent [growth]…” he said. “So there are many things that we should do while the whole world is in a mess…so that when all of these settle down, we’ll be in a stronger position again.”

The government targets 6.5-7.5% gross domestic product (GDP) growth for the year. The economy grew by 5.9% in 2019, a tad below the downward-revised goal of 6-6.5%.

The Monetary Board on Feb. 6 trimmed key policy rates by 25 bps, bringing the rate on the BSP’s reverse repurchase, overnight deposit and lending facilities to 3.75%, 3.25% and 4.25%, respectively.

Mr. Diokno said earlier this month that the central bank may cut rates by another 25 bps as early as the second quarter to help shield the economy from the impact of the fast-spreading COVID-19.

The central bank last year reduced key rates by a total of 75 bps. This partially unwound the 175 bps worth of hikes it implemented in 2018 to quell rising inflation.

“We’re lucky that we have both fiscal and monetary space,” Mr. Diokno said. “We might consider additional cuts in reserve requirements or in the…policy rate, but when that will happen, of course that will depend on our assessment of the situation and the conditions.”

The reserve requirement ratio (RRR) for big banks is currently at 14%, while those for thrift and rural lenders are at four percent and three percent, respectively, following 400 bps worth of cuts last year.

The BSP chief has vowed to reduce big banks’ RRR to the single-digit level by the end of his term in mid-2023.

Mr. Diokno earlier said COVID-19 could result in a 0.2% reduction in GDP growth if the virus lasts for a quarter or 0.4% if it persists for two quarters. He said growth may be hit by 0.3% on average in the first semester based on their preliminary analysis.

With the virus already affecting more than 80,000 people around the world, disrupting business operations in some countries and causing market jitters, Mr. Diokno said he has already instructed BSP Deputy Governor Francisco G. Dakila, Jr. to “revisit” these estimates.

Mr. Diokno said their previous analysis took into consideration the case of the Severe Acute Respiratory Syndrome (SARS) epidemic back in 2003. However, he said that China then is “much different from China now.”

“China now accounts for, I think, at least 30% of global growth if not higher,” he said.

BSP Monetary Policy Sub-sector Officer-In-Charge Dennis D. Lapid said in reviewing their analysis of the outbreak’s impact on the economy, they will consider data such as foreign direct and portfolio investments.

“Even with…what’s happening, we’re confident that we’ll still hit six percent this year. Because most of the things that we plan to do are not heavily affected by the coronavirus, like the ‘Build, Build, Build,’” Mr. Lapid, referring to the government’s massive infrastructure program. — Luz Wendy T. Noble

Inflation impact on the poor worsens in January

By Jobo E. Hernandez
Researcher

INFLATION, as experienced by low-income families, picked up to its fastest pace in six months in January, the Philippine Statistics Authority (PSA) reported on Thursday.

The inflation rate for the country’s bottom 30% income households clocked in at 2.3% in January, faster than the year-on-year inflation rate of 1.9% in December 2019, but slower compared to 5.2% in January 2019.

The latest reading, which was revised from the earlier-reported 2.6% last Feb. 5, marked the fastest clip in six months or since July 2019’s 2.7%.

This compares with the 2.9% headline inflation experienced by the average Filipino household in January that was faster than 2.5% in December, but slower compared to 4.4% in January last year.

The consumer price index (CPI) for the bottom 30% reconfigures the model basket of goods in order to reflect the spending patterns of the poor. This compared with the headline CPI which measures inflation as experienced by the average household.

This also marked the first time the bottom 30% CPI used 2012 prices as the base year. Prior to the rebasing, the bottom 30% CPI used 2000 prices.

The PSA noted higher annual increases in the following commodity groups: food and non-alcoholic beverages (0.7% from 0.2% in December 2019); alcoholic beverages and tobacco (22.4% from 22.3%); housing, water, electricity, gas, and other fuels (2.7% from 2.4%); transport (3.5% from 2.8%); communication (0.4% from 0.3%); recreation and culture (2.9% from 2.7%); and education (5.2% from 5.1%).

The food-alone index also posted an inflation rate of 0.6%, an increase from December 2019’s 0.1%.

Indices that remained unchanged during the month were clothing and footwear (2.8%); furnishing, household equipment and routine maintenance of the house (1.8%); and health (2.9%).

Bucking the trend was the restaurant and miscellaneous goods and services index, whose inflation inched down to 2.6% from 2.7% previously.

Poor households’ inflation in Metro Manila went down to 2.1% in January from 2.9% in December. On the other hand, those living outside the capital experienced inflation of 2.3% in January, higher than 1.9% the previous month.

“Clearly, the uptick may have come from the recent Taal Volcano eruption where there was a temporary increase in food prices coming from the areas immediately surrounding the volcano,” UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion said in an e-mail yesterday.

Taal Volcano spewed a giant ash column on Jan. 12, covering large parts of Southern Luzon and cities near Metro Manila. The volcano is the country’s second-most active volcano and has been under Alert Level 2 since Feb. 14.

“We have also seen the increase in fuel prices due to the TRAIN law implementation last January. Most of all, there has been a diminished base effect since we have already seen much lower levels of annual increments last 2019,” Mr. Asuncion added, referring to the Tax Reform for Acceleration and Inclusion law.

The economist was referring to the implementation of excise taxes on petroleum products that took effect at the start of the year under the third and final tranche of the TRAIN Law. Under this tranche, additional excise taxes of P1 per liter for gasoline, P1.50 per liter for diesel, and P1 per kilogram for household liquefied petroleum gas (LPG) will be imposed.

Moreover, there will be an additional 12% value-added tax, bringing the total to P1.12 per liter for gasoline and per kilogram for LPG, and P1.68 per liter for diesel. On the other hand, stocks that are part of oil companies’ Dec. 31, 2019 inventories are not subjected to the additional excise taxes.

Looking forward, Mr. Asuncion said inflation in February is expected to be lower with the decline in global oil prices.

“Knee-jerk reactions of fear due to the COVID-19 (coronavirus disease 2019) outbreak may also have caused the slight dampening of consumption demand across food products,” Mr. Asuncion added.

PCC: Concerns over foreign ownership of utilities may be addressed through regulation

NATIONAL SECURITY concerns arising from the removal of foreign ownership restriction in telecommunications, transportation and other industries can be addressed through regulation, according to the Philippine Competition Commission (PCC) commissioner.

“Understandably, there are security concerns in so far as certain public services which are no longer classified as part of the public utilities… We believe that those can be best addressed by regulation rather than limitation on ownership,” PCC Commissioner Johannes Benjamin R. Bernabe told BusinessWorld in an interview on Monday.

The House of Representatives passed House Bill No. 78, which seeks to amend the 83-year old Commonwealth Act No. 146 or the Public Services Act, on second reading last week. The bill proposed to limit the definition of pubic utilities to power transmission and distribution, water distribution pipeline system and sewerage pipeline system. Under the 1987 Constitution, foreign ownership of public utilities is limited to 40%.

Critics have said that HB 78 is a way to bypass the Constitutional limits on foreign ownership of public utilities, as it did not include telecommunications, power and transport in the definition of public utilities.

Mr. Bernabe said national security risks can occur regardless of the ownership of public utilities.

“If the fear is that the content is being manipulated, or if the fear is that vital information are being compromised then that is something that can happen whether or not its 60-40 (60% Filipino-owned, 40% foreign-owned),” he said.

“So what you really need are regulatory measures in place to make sure that those security breaches do not happen.”

HB 78 also provides a clearer definition of “public utility” which had been used interchangeably with “public services.”

Mr. Bernabe said public utilities are industries, considered as natural monopolies, and may pose risks if largely owned by foreigners.

He said the Public Services Act needs to be updated to identify industries that are no longer natural monopolies.

“Telecoms, before it was a natural monopoly simply because of the cost of laying down a backbone for the entire country, but now you have Wifi, you have satellites, cell sites, which can replicate the transmission required for telecoms, so its time has come,” he said.

HB 78’s counterpart measure is still pending at the committee level in the Senate.

The Cabinet included the measure as of the priorities for the first regular session of the 18th Congress. It also topped the list of bills supported by 14 local and foreign business groups, which was submitted to Congress last July.

The measure nearly hurdled the 17th Congress after it was approved in the House of Representatives, but failed to secure final approval in the Senate before the June 2019 adjournment. — Charmaine A. Tadalan

House legislators weigh next move on ABS-CBN

HOUSE SPEAKER Alan Peter S. Cayetano said he would meet with the House committee chair on legislative franchises, Rep. Franz E. Alvarez, on Monday or Tuesday to determine whether the lower chamber should have an “administrative hearing” on ABS-CBN Corp.’s franchise issue.

He told reporters on Thursday that the “meeting or hearing” would clarify the instructions to the National Telecommunications Commission (NTC). He added that ABS-CBN would not shut down unless Congress denies its franchise renewal.

“Walang dahilan magsarado ang ABS unless hindi ma-grant ang franchise. So while we’re deciding, walang dahilan na magsara,” he said.

(There is no reason for ABS-CBN to shut down unless its franchise renewal is not granted. So while we’re deciding, there’s no reason for its closure.)

On Wednesday, Justice Secretary Menardo I. Guevarra said the letter of the House of Representatives authorizing the NTC to issue a provisional authority to ABS-CBN once its franchise expires is enough for the regulatory agency.

He added that a similar resolution from the Senate would be “better.”

“It doesn’t really matter if it’s only the House franchise committee who has given that authorization to the NTC. From a legal standpoint, that’s substantially better than mere customary practice or established precedents,” he told reporters in a mobile-phone message.

“But a similar resolution from the Senate will provide a tougher armor to the NTC in the event of a legal challenge,” he added.

In the chance interview with Mr. Cayetano, he also told reporters that the House Joint Resolution (HJR) seeking to extend the media network’s franchise was “not needed” because it would “create more issues and more problems.” He said if the joint resolution is heard, it would give rise to more arguments.

Cebu Rep. Raul V. Del Mar filed HJR 28 on Feb. 18 seeking to extend ABS-CBN’s franchise until the 18th Congress ends or in June 30, 2022. Cagayan de Oro Rep. Rufus B. Rodriguez filed HJR 29 on Wednesday seeking to extend the media network’s franchise for one year or until May 4, 2021.

“Ang message ko lang (My message is), we’re not taking any chances here but nor are we letting ABS off the hook just like that because it’s not about the President,” Mr. Cayetano said. “It’s really about the responsibility of a network if we give them a 25 year franchise.”

Meanwhile, Albay Rep. Jose Maria Clemente S. Salceda said that ABS-CBN’s franchise “most likely” would be renewed.

He said if the franchise of the Catholic Bishops’ Conference of the Philippines (CBCP) was approved at the House, that of ABS-CBN will also be cleared, he told reporters on the sidelines of the Makati Business Club meeting on Thursday.

Republic Act No. 11319, which extends CBCP’s legislative franchise for another 25 years, lapsed into law in July 2019 after President Rodrigo R. Duterte did not act on the bicameral conference committee report.

“Like the renewal of the franchise of CBCP, which would have been more problematic given the more antagonistic relationship between the administration and the Church … I would expect that the ABS-CBN franchise, using the same process, will be renewed,” Mr. Salceda said.

Currently, 11 bills are pending in the House committee on legislative franchises seeking to renew the franchise of ABS-CBN.

ABS-CBN’s franchise will expire on May 4, 2020. Congress has six session days left before it adjourns for its Easter recess on March 13. — Genshen L. Espedido and Vann Marlo M. Villegas

Media network to donate P2.6-M refund from unaired political ads

ABS-CBN Corp. will follow President Rodrigo R. Duterte’s advice to just donate the P2.6-million refund that he declined to accept to a charitable institution.

The network also thanked Mr. Duterte for accepting the apology of Carlo L. Katigbak, the company’s president and chief executive officer.

On Wednesday, the President said he would not accept the P2.6 million being refunded by the embattled network for not airing his campaign ad during the 2016 presidential elections.

He said ABS-CBN should just donate the money to any charitable institution.

The Lopez-led company said in a statement on Thursday: “We are grateful and humbled by President Rodrigo Duterte’s acceptance of our apology.”

“We will coordinate with the President’s office as it relates to his guidance on donating the refund to a charitable institution,” ABS-CBN added.

It also said that it “remains committed to becoming a better organization and to continue to provide more meaningful service to Filipinos.”

The Office of the Solicitor General has filed a quo warranto petition seeking the cancellation of the legislative franchises of ABS-CBN Corp. and ABS-CBN Convergence, Inc. for supposedly violating the laws on foreign ownership restriction and for operating a pay-per-view channel, among others.

The Senate on Monday tackled the franchise renewal of ABS-CBN, which Mr. Duterte threatened to shut down.

The Justice department said the network may continue operating without the approval of Congress, noting that lawmakers could file a resolution authorizing the National Telecommunications Commission to issue a provisional permit to ABS-CBN. — Arjay L. Balinbin

Three icons, one stage

TONIGHT and tomorrow, three icons of Philippine music — Basil Valdez, Lani Misalucha, and National Artist for Music Ryan Cayabyab — join forces in And The Story Begins.

This concert is presented by Resorts World Manila and CCC Productions on Feb. 28 and 29 at Resorts World Manila’s Newport Performing Arts Theater.

The powerhouse performances also feature the Manila Symphony Orchestra String Ensemble for the two-night show.

“This is going to be the first time na kaming tatlo ay magkakasama (that all three of us will be together), although we have worked together [in the past],” said Ms. Misalucha during a press conference last week. Ms. Misalucha’s career in the 1990s and early 2000s inspired her title “Asia’s Nightingale,” given by MTV Southeast Asia. In 2004, Ms. Misalucha moved to the US with her family, finding newfound fame as the first Asian to headline at a main showroom of the Las Vegas Strip. Ms. Misalucha would return to the Philippines a few years later.

For his part, Basil Valdez has had a long and storied career, spanning 50 years in Philippine music. He is best remembered for his songs “Hanggang sa Dulo ng Walang Hanggan” and “Ngayon at Kailanman” (both titles of movies starring Richard Gomez, which used those songs as themes).

According to Mr. Cayabyab, the concert will be a review of Mr. Valdez’s best known hits, while Ms. Misalucha will perform a mix of new and established hits (during the press conference, she sang one of her latest songs, “I Can’t Give Anymore”).

As for Mr. Cayabyab, he was named a National Artist for Music in 2018. Mr. Cayabyab’s storied career, beginning in the 1970s, would see him giving command performances for royalty, releasing an unforgettable library of songs, and shaping contemporary Filipino music and theater with musicals such as Ang Larawan, Katy, and works based on the country’s most famous novels Noli me Tangere and its sequel, El Filibusterismo.

“We’re also looking back at how we started,” Mr. Cayabyab said, pointing to the show’s title as the beginning of a story.

He mentioned that he entered music right after graduating from college, in order to support his family. Mr. Valdez’s career trajectory, meanwhile, is tied to Mr. Cayabyab, who apparently discovered him in a band in 1977. Ms. Misalucha’s answer, meanwhile, was in jest: “Akala ko magiging beauty queen ako (I thought I was going to be a beauty queen).”

For these three greats, already veterans at their field, it seems as though a daunting and potentially monumental task can be brushed off as easily as a crumb. Speaking about audience expectations for that evening, Mr. Cayabyab said, “What can you expect? Fun.”

Tickets for And The Story Begins are now available at the RWM Box Office and all TicketWorld outlets. — Joseph L. Garcia

SEC flags ‘Elite’ group offering allowance and insurance cover

THE Securities and Exchange Commission (SEC) has flagged another illegal investing group that is luring the public by offering weekly allowances and an insurance coverage.

The corporate regulator posted an advisory on its website Thursday against Elite Entrep Blue Print/Elite Entrepreneur Blue Print/EEBP. It said it operates on Facebook and invites people to invest a P115,000 capital in the firm.

But the SEC said EEBP is not authorized to solicit investments, as it does not have the required registration and license from the commission to operate such business.

“[T]he public is hereby advised to stop investing in the investment scheme being offered by the said entity,” it said.

The SEC likened EEBP’s operations to Teachers Financial Coaching Program/Teachers Financial Freedom Program/Elite Teachers Financial Program/Teachers Financial Program, another investment group that it said was operating illegally.

EEBP invites the public to invest P115,000 in exchange of P11,500-worth of Royale products. By selling the products and recruiting more members, the investors may be able to get their returns.

A weekly income of P5,000 to P50,000 and a P1-million insurance coverage in Bank of the Philippine Islands is also offered to investors as some of the “benefits” in becoming a member of EEBP.

The SEC said those that acted as salesmen, brokers, dealers of agents for the group may be fined up to P5 million or imprisoned for 21 years, or both, as penalty for violation of the Securities Regulation Code (SRC).

Section 28 of the SRC require persons engaging in the buying and selling of securities to secure a registration with the SEC.

The SEC said it will also give the names of those involved in EEBP to the Bureau of Internal Revenue for appropriate penalties and tax assessment. — Denise A. Valdez

Yo! DJ Hyo

By Cecille Santillan-Visto

Show Review
DJ Hyo: The Exclusive DJ Set
Feb. 8
House Manila, Resorts World Manila

IT HAS always been the dilemma of Korean pop stars: How they will transition from K-pop superstardom to a celebrity life that is less frenzied but equally glamorous?

Many have slowly moved away from the limelight towards family life with the likes of Wonders Girls’ Sunye choosing to settle down long after the popularity of “Nobody” died down. Others go into business — Hyorin of the defunct Sistar started her own music label, while Brown Eyed Girls’ Narsha launched her own clothing line. Though still very active, ex-2NE1 member Sandara Park has ventured into hosting and, in 2016, was named as the Public Affairs Manager at YG Entertainment, one of the biggest talent agencies in Korea.

But Girls Generation member Kim Hyoyeon felt the need to be a bit, well, different.

While still immersed in music, the 30-year-old Hyoyeon has fashioned a persona that deviates from the girl-next-door image that was tailor-fit for the members of Sonyeo Sidae (SNSD), the Korean translation of Girls Generation.

The last time that she was here in the Philippines with the nine-member GG was in 2015 — they were among the first foreign acts to perform at the then newly opened Philippine Arena. The group, which was launched in 2007, has since lost some members and has gone into semi-hiatus. Hyoyeon returned to Manila nearly five years later — alone and bringing with her a kind of entertainment different from what the fans are used to.

As a solo artist, Hyoyeon — now known as DJ Hyo — has released several singles such as “Sober,” “Punk Right Now,” and “Badster,” a psychedelic piece which she co-wrote and co-produced. She performed all these during her exclusive DJ set at Resorts World Manila’s House Manila earlier this month.

The club was teeming with Girls Generation fans, known as Sones, who came in full force and armed with their pink GG light sticks.

The show kicked off at around 10 p.m. and a number of celebrities were in attendance. Barely three weeks from the announcement of their breakup, James Reid and his ex-girlfriend apparently set aside any possible disagreements to see DJ Hyo at the event.

To drum up excitement, there were a number of front acts before DJ Hyo finally took the stage. Angelo G, Lox, and Nix Damn P were the curtain-raisers and provided house music for two hours. A DJ at Wave 89.1 FM, Angelo G has his own radio show, The Vibe, and plays at various clubs. Lox, on the other hand, was featured in the track “Don’t You Forget” along with Mr. Reid and Narez. Nix Damn P, meanwhile, is a household name in the local DJ and clubbing scene and has collaborated with various DJs and artists throughout his career.

With more than three years of experience as a solo artist, DJ Hyo expertly worked the crowd, craftly weaving her own music with hits of Girls Generation, which the audience apparently enjoyed. She also played her other tracks such as “Wannabe” and “Mystery” — dancing in between mainly for the benefit of the fans. Though rather conservatively dressed in a green ensemble layered with a floral polo with subdued makeup, DJ Hyo still exuded the K-pop superstar vibe. As she is still a member of SNSD’s sub-unit, Oh! GG, she reverts to her idol image from time to time, particularly when she performs with the five SNSD members who stayed with SM Entertainment.

A clean shift to an alternative — and equally lucrative career — may be what every K-pop star dreams of. DJ Hyo may not have completely cut herself off from Girls Generation but she has made already a name for herself. The GG connection may be difficult to set aside, but at least she has been able to slowly step out of its shadow.

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