Home Blog Page 9709

DoubleDragon tops off new Jollibee Tower

DOUBLEDRAGON Properties Corp. has topped off its 41-storey Jollibee Tower on Monday, which is seen to start contributing P631.8 million in annual recurring income this year.

The listed property developer said in a statement that it has completed the construction of the building’s topmost floor, with handover to tenants to start in May. Jollibee Foods Corp. (JFC) will be the tower’s anchor tenant.

Located at the corner of F. Ortigas Jr. Road and Garnet Road in Ortigas Center, Jollibee Tower will offer 59,365 square meters (sq.m.) in total leasable area, as well as 1,149 parking slots on four basement parking floors and eight podium parking floors.

It has also received the Leadership in Energy and Environmental Design Gold pre-certification awarded by the US Green Building Council, indicating that the building is environmentally friendly.

Jollibee Tower is DoubleDragon’s eighth office tower to date. It has the four towers in DoubleDragon Plaza in Pasay City, DD Center-East and DD Center-West in DD Meridian Park in Pasay City, and Skysuites in Quezon City.

With this, DoubleDragon now has 265,073 sq.m. in completed office leasable space, keeping it on track to reach its target of 300,000 sq.m. in leasable office space by 2020. The company is seen to hit this target with the completion of one more office building in DD Meridian Park next year.

This forms part of DoubleDragon’s target to have 1.2 million sq.m. under its leasing portfolio by next year.

Aside from 300,000 sq.m for leasable office spaces, this target also includes 700,000 sq.m. from 100 CityMalls, 100,000 sq.m. from about 5,000 hotel rooms under the brands Hotel101 and Jinjiang Inn Philippines, and 100,000 sq.m. of industrial space from eight CentralHub sites across the country.

The company’s net income climbed 19% to P966.02 million in the first nine months of 2019, after a 16% increase in gross revenues to P4.72 billion

DoubleDragon Chairman and Chief Executive Officer Edgar J. Sia II earlier said that he expects the company to generate P10.52 billion in revenues this year, as it looks to end the year with more than 600,000 sq.m. in completed leasable spaces.

DoubleDragon is a joint venture between Injap Investments, Inc. of Mr. Sia — the founder of the Mang Inasal grilled chicken restaurant chain — and Honeystars Holdings Corp. of Tony Tan Caktiong, chairman and founder of Jollibee Foods Corp.

Shares in DoubleDragon firmed up 2.46% or 55 centavos to close at P22.95 each at the stock exchange on Monday. — Arra B. Francia

SM malls to support BFP fire safety campaign

SM Prime Holdings, Inc. is partnering with the Bureau of Fire Protection (BFP) to support the latter’s fire safety information campaign at its shopping malls.

“As a member of the community, and a responsible mall developer, SM supports initiatives for a public-private partnership such as this one. We are humbled to be BFP’s partner in promoting fire safety, and in helping build disaster-resilient communities. Through this partnership, we hope to teach our customers, as wells as communities where our malls are present, the importance of safety and resilience,” Steven T. Tan, chief operating officer of SM Supermalls said in a statement.

Under the memorandum of agreement (MOA), SM malls will host some of BFP’s activities for fire safety education and support the information campaign. BFP will share its expertise in fire safety and disaster resiliency with SM employees and mall tenants. — Vincent Mariel P. Galang

The Weeknd sued by British songwriters

CANADIAN singer The Weeknd has been sued by three British songwriters over allegations he copied their work to produce his hit “A Lonely Night,” according to US court documents.

Songwriters William Smith, Brian Clover, and Scott McCulloch sued the Weeknd, Universal Music Group, Inc., and others in a Los Angeles federal court. The song in question appears on The Weeknd’s Grammy-award winning album Starboy.

The British songwriters heard “A Lonely Night,” recognizing it as their song “I Need to Love,” the lawsuit said.

The UK songwriters are seeking unspecified damages.

They edited the two songs together in a sound clip youtu.be/y-WCCWWYsj0 they said showed the similarities.

Joel Zimmerman, who is listed as an agent for The Weeknd, did not immediately respond to a request for comment.

The lawsuit said that in 2004 and 2005, the British artists pitched their song to various artists around the world. A division of Universal Music bought the rights to the song in 2008, the court document said.

In 2016, the songwriters were told by the label that the song had not been used and it was relinquishing all rights to their work, according to the lawsuit.

Two weeks later, The Weeknd and Universal released Starboy. Last year, The Weeknd was sued with an allegation that his song “Starboy” from the album of the same name, was a rip-off. — Reuters

IMI moves up on list of top EMS firms

INTEGRATED Micro-Electronics, Inc. (IMI) on Monday said it improved its ranking in Manufacturing Market Insider’s list of top 50 electronic manufacturing services (EMS) companies in the world.

The Ayala-led company now ranked 17th on the list, from last year’s 18th spot. Manufacturing Market Insider ranks EMS companies based on 2018 revenues.

IMI saw a 24% increase in revenues to $1.35 billion in 2018, driven by its traditional business. Its traditional business alone generated a 16% increase in revenues to $1.04 billion.

The company specializes in manufacturing quality electronics for “long product life cycle segments” like automotive, industrial electronics and aerospace markets.

IMI has manufacturing plants in the Philippines, China, Bulgaria, Czech Republic, Germany, Japan, Mexico, Serbia, United Kingdom and United States.

The unit of AC Industrials, Inc. reported its net income attributable to the parent reached $45.5 million, up 34% due to a one-time gain from the sale of a China entity.

“We remain committed in our strategy to develop complex and high-value products that allows us to remain relevant in our focused target markets,” IMI Chief Executive Officer Arthur Tan earlier said.

Gov’t makes partial award of T-bill offer

THE GOVERNMENT made a partial award of the Treasury bills (T-bill) it placed on the auction block on Monday, with demand for the shortest tenor strengthening following the latest inflation print, which gave the local central bank some space to adjust benchmark rates.

The Bureau of the Treasury (BTr) borrowed just P11.075 billion out of the programmed P15 billion at its auction yesterday even as the offer was oversubscribed, with bids from investors amounting to P20.856 billion.

Broken down, the Treasury borrowed P4 billion as planned via the 91-day tenor yesterday as tenders reached P9.601 billion. The average rate declined 2.3 basis points (bp) to 5.612% from the 5.635% tallied in the previous auction.

Meanwhile, the government made a partial award of the 182-day T-bills, accepting just P2.76 billion out of the P5-billion program, even with total offers amounting to P5.34 billion. The tenor’s average yield climbed 2.4 bps to 5.982% from the 5.958% quoted in the previous offer.

For the 364-day T-bills, the government borrowed P4.315 billion out of the P6 billion it wanted to raise. The offer volume was undersubscribed as bids totalled just P5.915 billion. The average yield on the papers picked up 9.1 bps to 6.052% from the 5.961% fetched last week.

At the secondary market yesterday, rates of the three-month, six-month and one-year papers closed at 5.737%, 5.959%, and 6.035%, respectively.

Deputy Treasurer Erwin D. Sta. Ana said the market sought to park most of their funds in the 91-day tenor, with tepid demand for the 182-day and 364-day papers causing their rates to increase.

“The decision of the committee was to cut the auction for the latter two tenors at the rate wherein the market came in more,” Mr. Sta. Ana told reporters yesterday.

“If we see that the bulk of the submission is on this rate, we assume that the market is at that level.”

He added that the market demand was concentrated in the shortest tenor as participants priced in possible adjustments in monetary policy in the next quarters.

Market watchers are taking the latest inflation print, which came slower than expected, as a green light for key interest rate cuts.

March inflation eased further to 3.3%, a sharper slowdown than what market players expected. This is the slowest pace since January 2018, and marks the fifth straight month of decline since November.

However, officials of the Bangko Sentral ng Pilipinas (BSP) on Friday cautioned against swift plans to cut policy rates, saying they need to be watchful about the El Niño episode as well as rising global oil prices.

“It looks like it could be the participants are weighing in some of the possible policy movements in the next quarters, of course given several pronouncements already of the BSP,” Mr. Sta. Ana said.

He added that demand for the longer tenors was somehow muted party due to the holidays this month.

“There’s muted trading in the past days because of the short working week this week and next,” he said.

Markets are on break today in commemoration of Araw ng Kagitingan. Trading will also be suspended next week for Holy Week.

Sought for comments, a trader said yesterday’s auction results were within market expectations even as rates ended mixed.

“The movement was still sideways because of the holidays. The appetite was quite weak and as the market is waiting for the 10-year bonds on Wednesday,” the trader said in a phone interview.

The government plans to borrow P315 billion from the domestic market this quarter, broken down into P195 billion in T-bills and P120 billion in Treasury bonds.

It is looking to borrow P1.189 trillion this year from local and foreign sources to fund its budget deficit, which is expected to widen to as much as 3.2% of the country’s gross domestic product. — Karl Angelo N. Vidal

Insuring homes against fire

AMID the increasing number of fire accidents, Malayan Insurance urged property owners to secure their homes against fire.

“Fires are disasters that put lives and homes in danger, and through planning and vigilance, these terrible losses can be prevented,” Malayan Insurance First Vice President for Marketing & Communications Martin D. Yuchioco said in a statement. “Our products, Home Protect and Business Protect both offer coverage for losses caused by fires.”

Data from the Bureau of Fire Protection (BFP) showed 14,316 fires were reported as of December 2018, 0.84% higher than 2017.

The BFP said the leading causes of fires are “malfunctioning or faulty electrical connections, lit cigarette butts, and open flames from unattended stoves.”

Park Bo Gum fan meet

LOVE In The Moonlight breakthrough actor Park Bo Gum will meet his Filipino fans at his first fan meeting on April 27 at the Mall of Asia Arena. This is part of the Park Bo Gum’s 2019 Asia Tour: May Your Every Day Be A Good Day. The tour kicked off in Seoul last January, and Manila will be the 8th and final stop, concluding the round of shows in Asia this year. The actor will give Hi-Touch royalty and Good Day Manila official posters to all on-site attendees. In addition, 50 fan meet ticket holders will be randomly selected to be part of his press conference prior to the Manila show, and 40 other ticket holders will each receive an autographed official poster. Among his many films and TV shows are Blind, Wonderful Mama, The Admiral: Roaring Currents, and Reply. Park Bo Gum’s 2019 Asia Tour: May Your Every Day Be A Good Day live in Manila is produced by ABS-CBN Events and Ovation Productions. Tickets, which range in price from P5,860 to P10,110, are available via www.smtickets.com and at all SM Tickets outlets.

Boulevard Holdings’ sales fall 22% in 10 months

BOULEVARD Holdings, Inc. (BHI) reported sales dropped by 22% for the ten months ending March 31, due to the six-month closure of Boracay island last year.

In a disclosure to the stock exchange, the Panlilio-led firm said consolidated sales of products and services stood at P71.73 million for the ten-month period, lower than the P92.48 million recorded a year ago.

For the month of March, BHI said sales slipped 9% to P11.69 million versus P12.79 million a year ago.

“(The) decrease in sales mainly due to six months closure of Boracay, Malay, Aklan for rehabilitation effective April 26, 2018 and Friday’s Holdings, Inc., which owns and operates Friday’s Boracay Beach Resort is one of the companies affected by the order of the National Government,” the company said.

To recall, the Department of Environment and Natural Resources ordered all resorts and establishments in Boracay to be closed from April to October to allow for the island’s rehabilitation.

Friday’s Boracay Beach Resort resumed operations on Oct. 30, 2018.

The company’s core business is in the operation of resort developments. Its subsidiary, Friday’s Holdings, Inc., owns and operates Friday’s Boracay Beach Resort. It also owns Friday’s Puerto Galera, Inc., which operates Friday’s Puerto Galera Beach Resort in Boquete Island, Sto. Nino, Puerto Galera.

Inflated credit risk scores leave investors in the dark on real risks

CONSUMER CREDIT scores have been artificially inflated over the past decade and are masking the real danger the riskiest borrowers pose to hundreds of billions of dollars of debt.

That’s the alarm bell being rung by analysts and economists at both Goldman Sachs Group Inc. and Moody’s Analytics, and supported by Federal Reserve research, who say the steady rise of credit scores as the economy expanded over the past decade has led to “grade inflation.”

This means debtors are riskier than their scores indicate because the metrics don’t account for the robust economy, skewing perception of borrowers’ ability to pay bills on time. When a slowdown comes, there could be a much bigger fallout than expected for lenders and investors. There are around 15 million more consumers with credit scores above 740 today than there were in 2006, and about 15 million fewer consumers with scores below 660, according to Moody’s.

“Borrowers with low credit scores in 2019 pose a much higher relative risk,” said Cris deRitis, deputy chief economist at Moody’s Analytics. “Because loss rates today are low and competition for high-score borrowers is fierce, lenders may be tempted to lower their credit standards without appreciating that the 660 credit-score borrower today may be relatively worse than a 660-score borrower in 2009.”

The problem is most acute for smaller, less sophisticated firms that lend to people with poor credit histories, deRitis said. Many of these types of lenders rely mainly on the data supplied by Fair Isaac Corp., the so-called FICO score, and are unable or choose not to include other measures — such as debt-to-income level, economic data or loan terms — into their models for measuring risk, he said.

Car loans, retail credit cards and personal loans handed out online are the most exposed to the inflated scores, according to deRitis. This kind of debt totals around $400 billion, with nearly $100 billion bundled into securities that’s been sold to investors, data compiled by Bloomberg show.

What has analysts concerned is that cracks have already begun to show up in the form of a rising number of missed payments by borrowers with the highest risk, despite a decade of growth. And now with the economy showing signs of weakness, as seen with the recent inversion of the Treasury yield curve, those delinquencies could grow and lead to larger-than-expected losses for investors in riskier asset-backed securities.

“Every credit model that just relies on credit score now — and there’s a lot of them — is possibly understating the risk,” Goldman Sachs analyst Marty Young said in an interview. “There are a whole bunch of other variables, including the business cycle, that need to be taken into account.”

Fair Isaac Corp. created its FICO credit score product in 1989, and it’s still used by more than 90% of US lenders to predict whether a would-be borrower is an acceptable risk. Most scores range from 300 to 850, with a higher score purporting to show that someone is more likely to pay back debts. A competitor, VantageScore, was created in 2006 by the three major credit raters Experian, TransUnion and Equifax.

The concern that’s come up, Goldman and Moody’s say, is that lenders haven’t adjusted their underwriting standards as average credit scores have risen during one of the longest economic recoveries on record. So as cracks start to appear in the economy, someone whose credit score rose to 650 from 550 since the Great Recession may pay their bills more like they did 10 years earlier.

“Borrowers’ scores may have migrated up, but inherently their individual risk, and their attitude towards credit and ability to pay their bills, has stayed the same.” deRitis said. “You might have thought 700 was a good score, but now it’s just average.”

Big banks and lenders have been savvy enough to recognize the problem and include many other factors besides credit scores in their underwriting. This is probably true for some of the smaller lenders too.

FICO acknowledges that the credit score alone may not be enough to make informed underwriting decisions, and other factors need to be considered.

“The relationship between FICO score and delinquency levels can and does shift over time,” said Ethan Dornhelm, vice president of scores and predictive analytics at FICO. “We recognize there’s a lot more context you can obtain beyond a consumer’s credit file. We do not think that score inflation is the issue, but the risk layering on underwriting factors outside of credit scores, such as DTI, loan terms, and even trends in macroeconomic cycles, for example.”

But according to Goldman’s Young, the change in scores helps explain why missed payments on auto loans have significantly risen in recent years despite low unemployment, increasing wages and a relatively strong economy.

In February, the Federal Reserve Bank of New York said the number of auto loans at least 90 days late exceeded 7 million at the end of last year, the highest total in the two decades that the data has been tracked. Meanwhile, the subprime segment of auto-loan asset-backed securities has seen 30-day delinquencies rise 81% since 2011, driven by looser underwriting due to rising competition between lenders, according to S&P Global Ratings.

“Some deep-subprime auto lenders may be deeply reliant on credit scores, although there’s a pretty wide range within the auto industry of how lenders use scores and other metrics,” Michelle Russell-Dowe, who invests in consumer asset-backed securities at Schroder Investment Management, said. “For marketplace lending, regardless of the statistics you collect on borrowers, there is something adversely selective about somebody looking for loans online.”

Marketplace lending — loans handed out online — has been flashing signs of stress. Missed payments by consumers and writedowns for online loans bundled into bonds increased last year, according to PeerIQ, a New York-based provider of data and analytics for the consumer lending sector.

“We don’t see the purported improvement in underwriting just yet,”’ PeerIQ wrote in a recent report tracking marketplace lending.

Russell-Dowe also avoids the retail credit card sector. So-called private label credit cards — those issued by stores, rather than big banks — saw the highest number of missed payments in seven years in 2018, according to credit bureau Equifax.

She urges investors to do the difficult work necessary to figure out how each lender approaches underwriting and to determine whether they take other factors into consideration besides just scores.

“As an investor it’s incumbent on you to do that deep credit work, which means you have to know as much as possible about how things should pay off or default,” she said. “If you don’t think you’re being paid for the risk, you have no business investing in it.” — Bloomberg

Developer tops off Exquadra Tower

Exquadra Tower

THE construction of top-grade office buildings like Exquadra Tower is driving renewed interest in the Ortigas business district.

Exquadra Tower, which recently held its topping-off ceremony, is a 38-storey curtain-walled building with 57,000 square meters (sq.m.) of gross leasable area. Designed by global architectural firm Arquitectonica, it can accommodate 6,000 to 8,000 employees once operational.

“The availability of prime projects like Exquadra Tower has sparked the interest of corporate occupiers once more in this highly accessible area,” Miguel Manipol, associate director of Leechiu Property Consultants — the leasing agent of the tower, said in a statement.

Mr. Manipol noted the biggest supply of new office buildings in the next five years will come from the Ortigas, Mandaluyong, and Pasig area.

A property of Unioil Petroleum Philippines, Inc., Exquadra is located along Exchange Road, Ortigas Center in Pasig City. The tower boasts of environment-friendly features and is pre-Certified Leadership in Energy and Environmental Design (LEED) Platinum. — Vincent Mariel P. Galang

Maynilad inaugurates new water treatment plant

MAYNILAD Water Services, Inc. on Monday inaugurated the Putatan Water Treatment Plant 2 (PWTP2), its second treatment facility that sources raw water from Laguna Lake.

The PWTP2, which started operations on April 1, produces 100 million liters per day (MLD) of potable water to Maynilad customers in Muntinlupa, Parañaque, Las Piñas, and Cavite.

The facility will increase capacity in phases until it reaches the 150-MLD capacity later this year. Once PWTP2 operates at full capacity, Maynilad will temporarily shut down Putatan Water Treatment Plant 1 (PWTP1) for rehabilitation and upgrades.

Manuel V. Pangilinan, Maynilad chairman, said PWTP2 “is a vital component of Maynilad’s plan to develop alternative sources of water to ensure long-term water security for its customers.” He noted that it is the company’s aim to lessen dependence on Angat Dam as primary source of raw water.

In a statement, Maynilad President and Chief Executive Officer Ramoncito S. Fernandez, said that the company constructed the new facility to address the growing demand for water in the West Zone.

“Maynilad has been tapping Laguna Lake as source since 2009 when our first treatment facility in Muntinlupa became operational. In anticipation of the growing demand for water, we constructed this additional facility which will not only increase available supply but also enable us to better address the variable quality of the raw water coming from Laguna Lake,” Mr. Fernandez said.

Mr. Pangilinan said Maynilad intends to build two more water treatment plants.

“We want to build two more plants like this…Our target is to build up to 600 MLD,” Mr. Pangilinan said. “We want to build plant number 3 within the term of President Duterte. That’s our commitment.”

According to Maynilad, PWTP2 uses a multi-stage process of Dissolved Air Flotation, Biological Aerated Filter, ultrafiltration, reverse osmosis, and chlorination to treat the water from Laguna Lake and convert it to a product that complies with the Philippine National Standards for Drinking Water (PNSDW) of the Department of Health.

The Department of Environment and Natural Resources (DENR) is calling for a cleanup of Laguna Lake, which Maynilad says it is willing to support.

Sinabi naman ng DENR and Laguna Lake [Development Authority] na kailangang linisin ’yung lake (The DENR and LLDA said that we have to clean up the lake). For us, whatever we can do to help clean up Laguna Lake, we will do so,” Mr. Pangilinan said.

Metro Pacific Investments Corp., which has majority stake in Maynilad, is one of three Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT, Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has interest in BusinessWorld through the Philippine Star Group, which it controls. — Reicelene Joy N. Ignacio

Whimsy and depth

The Princess Guide
PlayStation 4/Nintendo Switch

WHEN Penny-Punching Princess was released early last year, not a few quarters deemed it a Japanese role-playing game that tread way, way off the beaten path. It wasn’t just quirky in the manner that Nippon Ichi Software (NIS) properties tended to be. It was inventively so, introducing the concept of bribery and corruption as a means by which the principal protagonist would turn erstwhile enemies into allies. And under the watchful eye of industry veteran Hironori Takano, it proved to be a standout among a bevy of rote action-adventure titles on the Nintendo Switch.

Parenthetically, gamers who consider Penny-Punching Princess to have been well worth their while will be pleased to know that NIS has put forth another title that builds on the brawler’s strengths. At the same time, The Princess Guide manages to be accessible to the less venturesome, eschewing idiosyncratic mechanics in favor of a more traditional progression hierarchy. It begins from the vantage point of a battle-weary warrior ready to settle down and yet not quite willing to let go of his colorful past. In an effort to transition to a peaceful life, he decides to cast himself as a sage prepared to impart his knowledge of combat off decades’ worth of personal experience to those who wish to hire him for the purpose.

Because of the would-be mentor’s reputation as a seasoned champion, aided in large part by times he himself wrote to perpetuate it, he promptly gets four princesses under his wing; each has singular characteristics, and each has preferred fighting styles. Each also has a storyline gamers must navigate prior to reaching the denouement of the overarching narrative. Thusly, The Princess Guide sees him teach them, and then learn from him — as is appropriate for their specific skill sets. Needless to say, control of all the characters is inevitable, although one at a time through individual campaigns, and then together.

All told, The Princess Guide is of medium length by JRPG standards. That said, the distinctiveness of the characters adds further value in variety. Arrogant Veronica is partial to magic and wants to conquer the world — literally. Dagger-wielding Alpana is the opposite, full of empathy and seeking to unite citizens of her domain. Gunslinger Monomaria, demanding of self to a fault, figures to restore honor to her broken family’s name by freeing her kingdom from debt. Good-natured Liliartie, trusty axe in tow, craves for a fine meal and, concomitantly, sees a dragon she needs to fight as one.

In other words, layers of texture dot The Princess Guide. And, for good measure, the mentor has the capacity to praise or scold a princess in combat, to tangible effects. A word of encouragement leads to restoration of health, while a reprimand serves to increase aggression under pressure. Clearly benefiting from Takano’s involvement in its development, it likewise presents a more refined version of Penny-Punching Princess’ trap system, enabling the soldiers that accompany the protagonists to occupy Relics and use their features for maximum damage to multiple opponents.

Progression is clear within each princess’ story arc, but The Princess Guide doesn’t lack for side quests off an easily discernible world map. Completion of main and extra missions provides the mentor with experience via Knowledge Materia, which, in turn, can be used to improve his charges’ skills. Admittedly, though, the rinse-and-repeat context is premised on prior knowledge of its triggers. In this regard, it could have allowed for a more favorable learning curve and offered tutorials on an as-needed basis. Instead, the requisite instructions are found in a repository gamers have to dig into by themselves.

Certainly, it helps that The Princess Guide shines from a technical standpoint. It’s an audio-visual feast on the PlayStation 4 Pro, exhibiting a distinct brightness of colors that highlight the stellar character and background designs, backstopped by an appropriately enveloping sound mix. The default Japanese voice acting is superb and augmented by spot-on English subtitles. Menus are detailed and a breeze to read, and while the action can sometimes be hard to keep up with on a busy screen, it’s more a function of the sheer number of characters involved than of swooning frame rates. Movements and animations are steady even when played on an undocked Nintendo Switch, with NIS ostensibly going for optimum performance even as it comes with some optical softness.

Be forewarned, though: Precisely because of the ease with which gamers can get lost in the glory of The Princess Guide, there is a tendency for manual saving to be overlooked. It cannot, lest hours upon hours of progress be lost for lack of an autosave feature. It’s a big miss, but one that the game thankfully manages to overcome because of its myriad positives. On the whole, NIS’ latest venture is a stylized medium-length actioner of equal parts whimsy and depth, humor and gravitas, and manages to pull its weight well above the JRPG crowd.

THE GOOD:
• Multiple run-throughs via distinct storylines

• Visually striking

• Distinctive gameplay

• Action is smooth, even on an undocked Switch

THE BAD:
• Grinding required

• Tutorials not provided as needed

• No autosave feature

• Middling artificial intelligence

RATING: 8/10

POSTSCRIPT:
The first hour of Neo Atlas 1469 pretty much sums up what it requires most: patience. It serves as both a fitting preamble for the main storyline and a thorough tutorial of gameplay mechanics. Players take on the role of the head of a trading company, and, within that time frame corresponding to the three years prior to the title date, build the firm up for what’s to come. Following the completion of the period of instruction (which cannot be skipped), they are asked by the king of Portugal to look for new potentially valuable-resource-bearing territories beyond Europe, and specifically that of Zipangu.

The premise of Neo Atlas 1469 is nothing new. Early generation consoles are replete with titles that provide simulations of relationship building across continents. In fact, it’s a port of a Vita release of the same name, which was a remake of Neo Atlas II on the Sony PlayStation. For all its supposed negatives as just the latest in a long line of point-and-click adventure releases, however, it’s the best of the lot to date and a decidedly unique offering on the Nintendo Switch. Rewards await, but aren’t collected merely by going from Point A to Point B; en route, players are compelled to make budget and personnel decisions that affect their capacity to meet their objectives within the allotted 30 years.

Most of the map that governs activities in Neo Atlas 1469 is unavailable at the outset, and is made clear only upon exploration of the fleet at the company’s disposal. As the designated admirals set sail for lands far and wide, costs mount, but so, too, do opportunities for favorable trade through proper inventory management and efficient transport of goods. Gamers benefit from added playthrough knowledge amid the expansion of routes, but are occasionally presented with the risk-reward dilemma of treasure hunting.

For all intents, the level of micromanagement required by Neo Atlas 1469 should please quarters literally and figuratively comfortable playing the long game. And, in this regard, NIS America rightly believes there is a viable market, having just released a physical copy of the title out West. (8/10)

Hard West is exactly that: a gritty 19th-century Western that boasts of an outstanding story told from varying points of view via distinct character campaigns. Heavily influenced by XCOM: Enemy Unknown, it features turn-based tactical gameplay through a handful of modes that serve to drive the narrative forward. Even seemingly inconsequential decisions to further strategic objectives weigh on how events unfold and are appreciated. In this regard, the text-heavy interface benefits from tight editing (although, admittedly, sometimes too tight as to border on dismissive).

Lest Hard West be judged as a copycat, it separates itself from other similar tactical titles, and even from XCOM, in its conscious effort to avoid randomness and instead introduce “luck” as an integral component to character development and advancement; depending on circumstances and turns of events, it can either be replenished or reduced to positive or negative effect. Additionally, CreativeForge Games chucked experience points in tracking protagonists’ upgrades, instead relying on playing cards — collected following the attainment of specific mission parameters — to form poker hands that provide corresponding buffs and bonuses.

The enemy artificial intelligence is occasionally a letdown, but, overall, Hard West delivers on its premise and promise of a Cowboys and Aliens experience. At $19.99, it’s a good buy, especially since it runs well on the go and includes from the outset all content previously released on other platforms. Recommended. (7.5/10)