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San Miguel’s Bulacan airport still a go, says Tugade

DESPITE lengthy delays in groundbreaking, Transportation Secretary Arthur P. Tugade said the P734-billion Bulacan international airport project of San Miguel Holdings Corp. (SMHC) would still push through.

“Umuusad naman bagamat dahan-dahan ‘yung Bulacan airport project,” Mr. Tugade said during a virtual briefing in Malacañang on Tuesday.

(The Bulacan airport project is progressing although it is slow.)

He added: “Sa akin pong kaalaman, ini-inform po ako, na nag-uumpisa na ho sila ng tinatawag na site survey at site relocation, ito po ‘yung pangunguna upang mapausad at maumpisahan na po ang proyekto. Meron na pong ginagawa d’yan ngayon.”

(I was informed that they are now preparing for the project by starting with site survey and site relocation. There are already activities being carried out.)

Mr. Tugade also said that the originally scheduled January groundbreaking for the airport project did not materialize due to “private issues” of San Miguel Corp. President and Chief Operating Officer Ramon S. Ang and the coronavirus pandemic.

The Transportation chief did not give a new schedule for the groundbreaking of the project.

The Bulacan airport project involves the construction of a 2,400-hectare airport with four parallel runways (expandable to six runways), eight taxiways and three passenger terminal buildings.

The project also includes the construction of an 8.4-kilometer toll road that will link the gateway to the North Luzon Expressway.

The airport is targeted to have an annual capacity of 100 million travelers, which the government hopes will help decongest Ninoy Aquino International Airport in Pasay City.

The first two runways are expected to be finished in three years at the earliest, while the rest are to be completed in four to five years. — Arjay L. Balinbin

PTT to resume opening of Café Amazon stores

By Adam J. Ang

THE Philippine unit of Thai state-owned PTT Public Co. Ltd. will resume opening Café Amazon stores that were supposed to open during the first six months of 2020 once the business situation has normalized after closing them during the lockdown period.

“We are currently assessing the situation as to how long this pandemic would affect the business. But some of our stores that are supposed to open this first and second quarter will still open once the situation has normalized,” PTT Philippines President and Chief Executive Officer Thitiroj Rergsumran told BusinessWorld.

In December last year, PTT Philippines announced its plan to open 15 to 20 of its coffee shop brand in the country.

The oil company has yet to see how the coronavirus disease 2019 (COVID-19) pandemic, which has sickened 6 million people globally so far, would affect its expansion target for the year.

PTT Philippines on Tuesday said it reopened 11 of its coffee shops in Metro Manila and nearby provinces as the government eased the community quarantine imposed across the country since June 1.

The stores are currently accepting deliveries and take-outs, while they still await the guidelines from the government on taking in dine-in customers.

“But as soon as we get the go signal from authorities to allow dine-in, we will do it gradually,” Mr. Rergsumran said.

Currently, there are 17 Café Amazon shops nationwide. The 6 stores that remain close are being sanitized in preparation for their reopening.

Café Amazon made its entry in the Philippines in 2016, opening at PTT SCTEx station, after PTT Philippines secured a master franchise from its parent company.

Hyun Bin crash lands into Smart

WHEN word that South Korean actor Hyun Bin was going to be the face of Smart Communications and clothing brand Bench dropped last week, Filipinos on social media lost their minds. And now that the Smart campaign has officially been launched, it became apparent that not even a pandemic can stop the Crash Landing on You star from gracing our screens (though he can’t be here physically because of travel restrictions).

“Signing him up for our Smart Giga Life and Smart Simple Ako and the impact he’s had — not just talking about the message effectively but actually delighting and making our customers and subscribers happy during these times actually makes him a very, very priceless investment,” Jane J. Basas, Smart’s SVP and head of consumer wireless business, said in a launch on June 1, via Facebook Live.

Hyun Bin first rose to prominence in 2005 when he starred in the Korean romantic-comedy drama series My Name is Kim Sam-soon, which was followed in 2010 by romantic-fantasy drama series Secret Garden. But arguably, his popularity truly soared after playing Captain Ri Jeong Hyeok, a North Korean soldier who falls in love with a South Korean woman in Netflix’s Crash Landing On You which aired from 2019 to 2020. The show has consistently been at the top of or in the Top 10 of Netflix’ trending shows in the Philippines list.

Last week, it was hinted, and then announced, that Smart had tapped him as its newest endorser as did Bench.

Ms. Basas said it didn’t come as a surprise that Bench also got Hyun Bin as its endorser because he is “one of the biggest Asian celebrities” and Bench has had experience getting South Korean endorsers in the past, like Ji Chang-wook , Lee Min-ho, and Park Seo Joon.

“I guess we’re just lucky from a timing standpoint that we were able to launch the campaign first,” she said.

Ms. Basas said the campaign was scheduled to launch in June and it pushed through even though they did have to postpone Hyun Bin’s visit to the Philippines for the launch event. She did assure that he will be coming to the country as soon as it is safe to do so.

The 37-year-old actor will be Smart’s endorser for an entire year, and has committed to fly to the country at least once and be part of Smart’s event on three occasions. Although Smart will not disclose the cost of the advertising deal, Ms. Basas said getting the VAST Entertainment superstar is a “priceless investment” for the telco.

The Smart TVC was shot entirely in South Korea in May, and because of the pandemic, none of the Smart executives were able to fly to Seoul and monitor the production on-site. But they did monitor via multiple video conferences.

“It was very easy [working with Hyun Bin], he was very game, and his professionalism and passion for his work came through,” Alfredo S. Panlilio, CEO and President of Smart Communications and PLDT’s chief revenue officer, said in the same launch.

But what is the campaign all about? Well, it is the launch of Smart’s newest tagline, “Simple, Smart Ako,” which, according to Mr. Panlilio, “sums up our company’s approach all this time to make amazing technology available, and, more importantly, simple for every Filipino.”

“We are embracing our role as a digital lifestyle enabler that keeps innovating to make the life of our customers simpler. Now that the world becomes more and more complicated, we believe that what matters most in life are the simplest things,” Mr. Panlilio said in a statement.

The campaign also highlights the telecommunications company’s various Giga promos which offer data that can be used for streaming video content, gaming, music, or for productivity.

With Hyun Bin joining the Smart fold, Mr. Panlilio said it is likely that Smart will have more Korean endorsers in the future.

After all, as Mr. Panlilio said, “Captain Ri is lonely if he is alone.” — Zsarlene B. Chua

Foreign investors seen to push PSEi higher

By Denise A. Valdez, Reporter

THE PHILIPPINE Stock Exchange index (PSEi) is projected to be taken to 6,600 by bulls outside the Philippines as foreign investors are back trading locally in the past days.

In a report Tuesday, Philippine National Bank (PNB) Head of Research Alvin Joseph A. Arogo said bargain hunting from overseas investors might be what propels the market outside the slump it had been in the past months.

“Although the fundamental risk-reward is no longer attractive, the potential resurgence of foreign buying can be a catalyst that carries the index near or even past our bull case,” Mr. Arogo said, referring to PNB’s bull target of 6,672.

He said PNB was expecting the index to close at 6,672 as bull case (+10.7% from last close), 5,572 as base case (-7.5%) and 4,194 as bear case (-30.3%).

The market has been trading between 5,400 and 5,900 in the past two months before the PSEi closed at 6,025.17 Tuesday.

Given current scenarios that led the market to record three straight days of net foreign buying as of Tuesday, Mr. Arogo said the local bourse might be an attractive place for foreign investors.

He noted of three “bright spots” where the Philippines beats US markets: cheaper valuations, room for interest rates, and the absence of social unrest, referring to anti-racist protests in America.

“Unlike in April during which the upbeat sentiment was mainly supported by domestic investors, foreign flow was more influential recently. Gross purchases from overseas investors rose to 63% of total during the past three days and 53% in May from only 41% in April,” Mr. Arogo said.

“As lockdowns ease and ‘doomsday fatigue’ spreads, risk-on sentiment is gaining more momentum even though uncertainties remain,” he added.

PNB summarized into four points the things the local market would have to deal with: the possibility of a second coronavirus disease 2019 (COVID-19) wave, the non-existence of a COVID-19 vaccine, slower than expected economic recovery, and weaker than expected earnings growth.

If investors get to hurdle these things, the market may sustain its momentum and the index may hit 6,672 or higher.

PNB noted, however, that equity markets across the world are extremely volatile due to the ongoing pandemic. “[T]here is a higher likelihood that our target price may be revised significantly over the next six to 12 months,” it said.

Why does it seem that people are getting more migraines during the pandemic?

TV host and model Bianca Gonzalez-Intal has been coping with migraines and taking maintenance medicine for almost 30 years.

“I was in school. I went to the clinic. My head was throbbing. Tinawag ‘yung mommy ko (My mom was contacted) to pick me up from school. [Then], I remember going to the hospital and doing some tests,” Ms. Gonzalez-Intal recalled when she first got diagnosed with a migraine in Grade 3.

As an adult, she takes strong medicine and naps prior to her work as a host to cope. “Whenever I had to host shows and events, there were bright lights and loud sounds, which are all migraine triggers. I have to take a strong medicine and take a nap backstage before showtime, so I could ease my migraine headache and be able to perform my role as host,” she said.

Aside from sounds and lights, a major trigger for migraines is anxiety. And being in the middle of a pandemic is stressful.

MIGRAINES AND THE PANDEMIC
Migraine is a headache disorder involving recurrent attacks of moderate to severe head pain, usually throbbing, often on one side of the head. Stress, lack of sleep, and strong odors are some of its common triggers.

According to the Global Burden of Disease Study 2016, around 12 million Filipinos suffer from migraine.

The pandemic has hit migraine sufferers hard. Swiss pharmaceutical company Novartis conducted a social media analysis of 3,645 posts (in English) from March 15 to April 15 this year which found that the stress and anxiety induced by the COVID-19 (coronavirus disease 2019) pandemic have triggered migraine attacks in patients globally.

“Migraine attacks may be more common these days because of stress and anxiety caused by the pandemic,” said Dr. Corina Maria Socorro Azores-Macalintal, consultant neurologist at Asian Hospital and Medical Center, said in a virtual media briefing, “Tama Na, Iwas Migraine, New Normal,” organized by Novartis Healthcare Phils., and held via Zoom on May 27. “The impact of the pandemic on the patient is more on the limitations of the patient’s access to health care, and their increase in stress and anxiety as the triggers for their migraine,” she said.

During the briefing, medical professionals discussed how migraine patients can cope amidst the COVID-19 pandemic, including resorting to telemedicine and other online resources for help.

The biggest culprit during the pandemic, said Philippine Neurological Association (PNA) President Dr. Rosalina Espiritu-Picar, during the briefing, is sleep issues. “The biggest problem with having an unstructured life because of the pandemic is that you don’t have regular working hours so sleep is also very irregular,” she said.

Anxiety and depression caused by the pandemic can be part of a vicious circle involving sleep problems and migraine pain. “They feed off each other,” said Dr. Espiritu-Picar. “That means people who do not sleep well tend to have more pain, and people who end to have more pain also tend to have more anxiety and depression. And that relationship is bidirectional,” she noted.

“The limitations imposed by the COVID-19 pandemic have impacted patients globally, including migraine sufferers. To cope with these limitations, we encourage migraine patients who are stable and do not require acute emergency care to utilize telemedicine tools so that they can stay connected with their doctors,” Dr. Espiritu-Picar said.

To give patients more information about migraines and headaches while maintaining safety protocols during the quarantine, the PNA posted a list of neurologists who are accepting telemedicine consultations on its official website (www.philippineneurologicalassociation.com), as well as a list of FAQs about headaches (https://www.philippineneurologicalassociation.com/headache).

While patients may be prescribed pharmacologic managements such as analgesics, triptans, and medicine combinations, Dr. Azores-Macalintal noted that non-pharmacologic managements such as staying hydrated, regular exercise, regular sleep, and stress management, are also important.

It is also advised to avoid food, behavioral, and environmental triggers. Food triggers include caffeine, alcohol, and monosodium glutamate (MSG); behavioral triggers include stress, too much or too little sleep, skipping meals, and dehydration; and environmental triggers include weather changes, loud noise, and exposure to glare or flickering lights like those that affect Ms. Gonzalez-Intal.

Different patients have different triggers, and one can discover which ones are particular to them by tracking their migraines. One way to do so is with Migraine Buddy, an advanced migraine headache diary and tracking app designed with neurologists and data scientists. Through the app one can not just learn what their particular triggers are, but also learn to recognize the warning signs. It is available on the App Store and Google Play.

MEDICATION
Aside from avoiding triggers, there are now medical options that can be taken to prevent migraines. One of these is Novartis’ Erenumab, which has been approved by the US FDA, EMA, Swissmedic and Australian Therapeutic Goods Administration for migraine prevention.

“Erenumab specifically targets the calcitonin gene-related peptide or CGRP receptor, which plays a key role in the pathophysiology of migraine. It has been shown to safely and effectively reduce migraine frequency, allowing patients to have more migraine-free days. This innovative anti-migraine medicine is self-administered once monthly via a pre-filled syringe,” Chief Scientific Officer of Novartis Healthcare Philippines Dr. Giovell Barangan said in a press release.

In the Philippines, it has been approved and prescribed for the prevention of migraine among adults. “The effectiveness has not been studied in the pediatric population that’s why it is only recommended for adult patients with migraine,” he said during the virtual media briefing. “It can only be purchased with a doctor’s prescription and guidance.”

“You have to understand that there are different kinds of headaches. Different headaches have different manifestations,” Dr. Espiritu-Picar said, adding the importance of consultations because various headaches require different treatments. She also advised patients to develop an active partnership with their doctors. “A big part of the management of migraine will depend on the patient’s cooperation,” she said.

To learn more about migraine and be in contact with fellow migraine sufferers, visit the Speak Your Migraine Facebook page at https://www.facebook.com/speakyourmigraineph. — Michelle Anne P. Soliman

Crown Asia earnings up 6% despite lower revenues

CROWN ASIA Chemicals Corp. posted a 6% increase in earnings in the first quarter despite a 5% decline in sales due to the coronavirus disease 2019 (COVID-19) pandemic.

The listed manufacturer of polyvinyl chloride (PVC) compounds said its net income in the three-month period stood at P45.43 million, up from P42.66 million in the same period last year.

The increase came amid a drop in revenues to P320.75 million from P338.52 million last year, which the company attributed to lower domestic sales due to quarantine measures that started in mid-March.

Crown Asia said its higher bottomline can be linked to the decrease in finance costs because of the repayment of car loans and foreign exchange rate differentials during the three-month period.

The company’s gross expenses stood at P256.15 million at the end of the quarter, down 8% year-on-year.

“[W]ith the advent of COVID-19 pandemic, the company will continue with its best efforts to sustain revenue and earnings growth, barring the economic barriers from local economic and world health and geopolitical issues,” it said in a statement.

Crown Asia distributes its products such as wires, cables, films, sheets, bottles, potable pipes and fittings, electrical conduits, flexible electrical pipes and sanitary pipes across the world. These are used directly and indirectly in the construction and telecommunications industries.

Shares in the company at the stock exchange closed flat on Tuesday at P1.74 apiece. — Denise A. Valdez

Frequent testing, less contact recommended to get Hollywood cameras rolling again

LOS ANGELES — Hollywood studios and labor unions on Monday proposed extensive coronavirus testing and other safeguards to allow actors and crew members to resume movie and TV show production in the United States.

An entertainment industry task force sent dozens of recommendations to the governors of California and New York, two of the largest US production hubs, and was awaiting a green light to return to sets. Filming around the world was halted in mid-March to help curb the coronavirus pandemic.

In a 22-page blueprint, the task force urged regular testing for cast and crew and daily monitoring of symptoms through temperature checks or other measures. Crew members would be told to wear face masks.

Actors, however, would not be able to wear masks or other personal protective equipment while filming. They would be advised to minimize scenes with close contact or use digital effects to portray intimate moments. TV shows also would be discouraged from filming before a live audience.

The guidelines were developed by a task force that included representatives from Walt Disney Co., Netflix, Inc., AT&T, Inc.’s Warner Bros and Comcast Corp.’s NBCUniversal, plus unions including SAG-AFTRA, IATSE and the Directors Guild of America.

Testing is “the cornerstone” of the recommendations and rapid results will be needed, according to a statement from Directors Guild President Thomas Schlamme and the group’s national executive director, Russell Hollander.

“Without testing, the entire cast and crew would be working in an environment of unknown risk,” the statement said.

Actors and those in closest contact with them should be tested more often, they added, since they will not be wearing personal protective equipment while on camera.

On Tuesday, the Los Angeles County Board of Supervisors will discuss its requirements for restarting productions in the county, home to several movie studios and sound stages. — Reuters

Suntrust signs deal with HK firm for convertible bonds

SUNTRUST Home Developers, Inc. is issuing P5.6 billion convertible bonds to be subscribed to by a Hong Kong-based company in relation to its construction of a hotel casino in Parañaque City.

In a disclosure to the local exchange on Tuesday, Suntrust said it had signed a subscription agreement with Hong Kong’s Summit Ascent Investments Ltd. earlier this week.

The deal requires Suntrust to issue P5.6 billion, 6% coupon convertible bonds that Summit Ascent will subscribe to under certain conditions. It said the move would support the development of the five-star hotel casino that Suntrust is building at the Manila Bayshore Integrated City in Parañaque City.

In Summit Ascent’s disclosure to the Hong Kong Stock Exchange, the company said the convertible bonds to be issued by Suntrust may be converted into conversion shares.

Net proceeds from the issuance is estimated at HK$1.6 billion, which Summit Ascent will use for the development of Tigre de Cristal, a hotel and resort in Russia.

Suntrust is 51%-owned by Fortune Noble Ltd., a wholly owned subsidiary of Hong Kong-based Suncity Group Holdings Ltd.

Suncity is a substantial shareholder of Summit Ascent through its parent company, Summit Ascent Holdings Ltd., where Suncity holds approximately 24.74% interest.

The hotel casino that Suntrust is building with Westside City Resorts World, Inc. will stand as part of Megaworld Corp.’s Westside City in Parañaque City. It is envisioned to have at least 400 rooms and a casino.

Shares in Suntrust at the Philippine Stock Exchange picked up 12 centavos or 10.43% to P1.27 each on Tuesday. — Denise A. Valdez

Globe partners with Korean streaming service

PHILIPPINE telecommunications company Globe has expanded its roster of video streaming site partners with the entry of VLive, a South Korean live video streaming and entertainment platform service.

“As we are relying on the internet for our main source of entertainment, we want to offer all types of content for our diverse set of users, and that includes streaming services for our subscribers who are avid fans of Korean pop music,” Ernest L. Cu, Globe President and CEO, said in a statement.

The partnership means that users can stream VLive’s content by registering through Globe’s prepaid data packages and promos (GoWATCH, GoSurf, and GoSAKTO, among others).

VLive is the live streaming video service of South Korean technology giant Naver Corp. which was launched in 2015. The site, and its mobile app, offers often exclusive live broadcasts, concerts, and reality series featuring South Korean celebrities. While many of the features are free, the service also offers subscriptions for premium content like surprise live broadcasts or fan interactions.

Among the artists who have content on VLive are KPop groups BTS, BLACKPINK, TWICE, TXT, and NCT.

For more information on Globe data packages, visit globe.com.ph or follow their official media pages. — ZBC

Eagle Cement continues food relief

EAGLE Cement Corp. has committed to continue supporting the communities around its cement plants as the coronavirus disease 2019 (COVID-19) pandemic persists.

The cement manufacturer said in a statement Tuesday it will keep distributing food packs to some 18,000 families despite the easing of quarantine restrictions in Luzon.

“As the COVID-19 pandemic continues to affect our country, EAGLE is committed to continue helping our partner communities where we operate, during the crisis and beyond,” Eagle Chairman Ramon S. Ang said in the statement.

“The livelihood of many residents in our communities have been affected by this pandemic and they currently do not have the means to provide for their families. We hope that our relief operations are able to help them,” he added.

Eagle Cement said it has so far distributed more than 21,000 relief packs to communities in Bulacan and Cebu since April. One pack contains rice and canned goods which it estimates would last two weeks.

The company partners with the Armed Forces of the Philippines and local government units to extend support to 34 barangays in San Ildefonso, Doña Remedios Trinidad and San Rafael in Bulacan and two barangays in Malabuyoc, Cebu. These municipalities are where Eagle Cement’s facilities are located.

Eagle Cement’s earnings fell 25% to P1.2 billion in the first quarter due to the suspension of construction activity in mid-March. Its shares in the stock exchange shed five centavos or 0.61% to close at P8.18 each on Tuesday. — Denise A. Valdez

MTV goes dark

YOUTH television channel MTV and other stablemate channels said they will go dark around the world on Monday to mark the death in police custody of George Floyd, joining other US entertainment outlets in condemning racial inequality. MTV will be joined by its other ViacomCBS youth and music channels, including Comedy Central, CMT, and VH1, at 5 p.m. ET (2100 GMT) in an eight minute, 46 second blackout — the length of time they said that a white Minneapolis police officer last week knelt on the neck of Floyd, a black man. Floyd’s death has prompted mass protests in cities around the United States decrying the treatment of black Americans, polarizing the country politically and racially. The TV networks will also provide a call to action encouraging audiences to link up with racial justice organization Color of Change. The move by MTV follows calls by leading record labels to suspend business, delay new music releases, and pledge support for racial justice organizations in the wake of Floyd’s death. Warner Music Group, Universal Music, Sony Music and other record labels have issued pledges and support for the “Black Out Tuesday” initiative. Multiple musicians, including Beyonce, Taylor Swift, Billie Eilish, Rihanna, Ariana Grande and Jay-Z have spoken out in response to the death and subsequent demonstrations, some of which have turned violent. — Reuters

Bounty Agro sustains business during pandemic

BOUNTY Agro Ventures, Inc. (BAVI) said it had managed to minimize its business losses even while the coronavirus disease 2019 (COVID-19) pandemic persisted.

In a statement, BAVI President Ronald R. Mascariñas said the company had expanded its business through creating new trade channels such as rolling stores that made its products more accessible to consumers despite the lockdown.

“We are among the lucky ones. We managed to minimize expected business losses at the start of the quarantine period in mid-March,” Mr. Mascariñas said.

In March, the company’s chicken rotisserie chain, Chooks-to-Go, launched a nationwide mobile store that also served products under its Uling Roasters and Bounty Fresh brands. BAVI said its rolling store had also partnered with barangays and village leaders.

“As a result, we are approaching the coming regimes of easing restrictions, a stronger organization with more products, and a healthier financial position,” Mr. Mascariñas said.

The company also sold live chicken sourced from its 400 contract growing partners, which kept Bounty’s supply chain stable throughout the lockdown period.

However, Mr. Mascariñas said the company needs to adjust to the new environment as the country has shifted to the more relaxed general community quarantine.

“We at BAVI met the difficult challenges of the last two months not by retreating but by advancing and expanding,” Mr. Mascariñas said.

BAVI claims to be the country’s second largest poultry integrator, together with its sister company Bounty Fresh Foods, Inc.

The company’s retail brands include Chooks-to-Go, Uling Roasters, and Adobo Connection. — Revin Mikhael D. Ochave

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