Home Blog Page 9732

OFW film in search of PHL audience

THE PRODUCERS of Still Human, a film about a Filipina domestic worker in Hong Kong and her relationship with her disabled employer, are hoping to get a more widespread theatrical release in the country after its Philippine premiere in the recently concluded Cinemalaya Independent Film Festival.

Still Human is the debut film of Oliver Chan Siu-kuen and stars veteran Hong Kong actor Anthony Wong alongside Filipina theater actress Crisel Consunji.

The movie tells the story of a former nurse who becomes a caregiver to a paralyzed and irascible pensioner in order to earn enough money to support her family in the Philippines and in order to pay the fees to annul her marriage to her abusive husband.

Because of pensioner’s temper and the language barrier (they use a mobile phone app to translate conversations), the two get off to a rocky start but eventually forge a harmonious relationship — to the point that he begins to support his caregiver’s dream of becoming a photographer.

This mirrors the experiences of Xyza Cruz Bacani, a Filipina street and documentary photographer who was once a domestic helper in Hong Kong where she used her spare time taking street photographs around the city.

“Our director said that she was inspired to do the film after seeing a man in a wheelchair and a lady who she presumed was his caregiver on the street. And she started wondering about the dynamics of their relationship and why they looked so close. And then she started criticizing herself for even questioning how this kind of relationship can exist,” said Ms. Consunji during a press conference on Aug. 10 at the Cultural Center of the Philippines (CCP).

The movie won the Best New Director, Actor, and New Performer Awards at the 38th Hong Kong International Film Festival (the island’s equivalent of the Academy Awards). Ms. Consunji’s win marked the first time a Filipino actress was nominated — and won — in the event.

The film was also shown at the Udine Far East Film Festival where it won the Black Dragon Critic’s Award and the Top Audience Award. Mr. Wong also won the Golden Mulberry Award for Outstanding Achievement.

Still Human has also been screened in Chicago, Malaysia, Taiwan, and will soon be shown in Japan.

“The distributors have been working very hard but I don’t know, for whatever reason [the Philippines has not picked it up],” Ms. Consunji said.

There have been several Filipino films in recent years whose stories revolved around OFWs in Hong Kong: Babyruth Villarama’s Sunday Beauty Queen (2016), a documentary about domestic workers who join local beauty pageants, won Best Picture at the Metro Manila Film Festival; and this year, Cathy Garcia-Molina came out with Hello, Love, Goodbye about a woman who works multiple jobs to achieve her dream of having her family migrate in Canada. The film recently breached the P800 million mark inteh box office.

But what is different about Still Human, in Ms. Consunji’s words, is how it is able to elicit feelings of remembrance from its audiences, some of whom grew up with a Filipina domestic worker. (There are more than 200,000 Filipino domestic helpers in Hong Kong, according to an August report by the South China Morning Post.)

“I had several occasions in the post-screening discussions where there were people who would stand up and cry and say that this film made them remember their yayas,” she said before adding that while doing the film, she talked with several domestic workers who said that their employers think of them as family. — Z.B. Chua

Most Asian units slip on US-China

THE KOREAN WON was one of the Monday’s session’s worst performers.

MOST emerging Asian currencies slipped on Monday, tracking the broader sell-off in equity markets, as investors scurried away from risky assets amid intensifying Sino-US trade tensions.

US President Donald Trump on Friday heaped an additional 5% duty on some $550 billion in targeted Chinese goods, just hours after China unveiled tariffs on $75 billion worth of US goods.

The news shook global markets, leading to sharp sell-offs across Asian equities and a slump in crude prices, following Wall Street’s nose-dive on Friday.

“It can probably be assumed that tit-for-tat will be the default strategy in the coming months and reinforces the point that this conflict will probably last for an extended period,” DBS Economics and Strategy noted.

The Korean won, Chinese yuan and Indian rupee were the session’s worst performers, all shedding over 0.6%.

The rupee weakened to as low as 72.170 against the dollar, hovering at an 8-month trough it touched on Friday.

However, the yuan’s losses were curtailed after China fixed the yuan’s midpoint at a relatively steady 7.0570 per dollar, when it had been trading as weak as 7.1850 offshore.

Meanwhile, the Thai baht was the region’s sole gainer, adding 0.4%.

OCBC said it expects currencies of countries with a current account deficit such as India, Philippines and Indonesia to remain inherently vulnerable in the current environment.

This leaves the Thai baht more sheltered and in a position to outperform the rest of Asia, it added.

The baht is the region’s top performer this year, gaining 6.4% so far, owing to a weak dollar, strong foreign fund inflows and its large current account surplus.

While the Philippine equity market was closed on account of a holiday, the peso traded marginally lower amid thin volumes, posting the session’s smallest loss. — Reuters

RLC tops off The Residences at The Westin Manila

ROBINSONS Land Corporation (RLC) recently held a top-off ceremony for its luxury development — The Residences at The Westin Manila Sonata Place in Ortigas Center.

The Residences at The Westin Manila Sonata Place is a 50-storey residential development located along San Miguel Ave. corner Lourdes St. in Brgy. Wack-Wack, Mandaluyong City.

Homeowners have direct access to The Westin Manila Sonata Place, and avail of the hotel’s services such as housekeeping, in-residence dining, and recreational facilities.

“This luxury development is carefully curated by world-renowned architectural, engineering, and interior design firms to cater to the meticulous taste of its residents. Its intuitive spaces, signature amenities, and modern architecture speak of exceptional innovation that redefines the local landscape of the city,” RLC said in a statement.

Aboitiz-FTAP tandem inks deal with Smart Communications for common towers

THE joint venture of Aboitiz InfraCapital, Inc. and Frontier Tower Associates Philippines, Inc. (FTAP) has secured a deal with Smart Communications, Inc. to provide shareable telecommunications infrastructure.

In a statement yesterday, Aboitiz InfraCapital said it signed a memorandum of understanding (MoU) with Smart last week, making it the second firm it will provide common tower services. “This latest collaboration with Smart is in step with Aboitiz InfraCapital’s goal to ramp up the country’s connectivity through infrastructure,” Aboitiz InfraCapital Chief Operating Officer Cosette V. Canilao said in the statement.

Aboitiz InfraCapital and FTAP earlier signed a common tower agreement with Smart rival Globe Telecom, Inc., which will focus on building sites in Cebu, Davao and Olongapo.

As for Smart, the joint venture of Aboitiz InfraCapital and FTAP is also the second it is tapping for common towers. Smart signed an MoU with the tandem of edotco Group Sdn. Bhd. and ISOC Infrastructure, Inc. earlier this month.

“We welcome the opportunity to partner with Aboitiz InfraCapital and FTAP, and to accelerate the delivery of wireless services to more areas nationwide,” Smart President and Chief Executive Officer Alfredo S. Panlilio was quoted in the statement as saying.

The government has been urging telcos to avail the services of independent tower firms to build their infrastructure needs. These towers, unlike those built by the telcos for their own purpose, may be used by more than one tenant.

Mr. Panlilio said tapping common tower providers will allow Smart to improve its services as it will help in a “faster and more efficient rollout of our LTE and LTE-Advanced network, and eventually, our 5G base stations.”

Tapping tower firms is also expected to help telcos trim capital expenditures that go to building passive infrastructure assets.

The Department of Information and Communications Technology (DICT) is aiming to have 50,000 common towers built in the next seven to 10 years. To encourage telcos and independent tower providers to take part in this plan, the DICT commits to offer assistance in securing permits to agreements that are formed for shareable towers.

Smart is the wireless unit of PLDT, Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Denise A. Valdez

RWM marks 10th year with shows, food promos

RESORTS WORLD MANILA (RWM) is celebrating its 10th anniversary with dining and accommodation deals from its signature restaurants and partner hotels alongside a slew of musical performances in its venues.

“Resorts World Manila believes that we should always make the most out of life. That is why we at RWM continue to create world-class experiences with a Filipino touch and thrill the world every chance we get,” Joee Guilas, RWM director for corporate communications, said in a release.

On the entertainment front, Lea Salonga is performing in a two-night concert on Aug. 30 and 31 at the Newport Performing Arts Theaters. She will be joined by Esang de Torres, her daughter Nicole Chien, Tanya Manalang, and American theater actor Michael K. Lee.

Also part of the celebrations is Nyoy Volante’s performance at Bar 360 on Aug. 31.

Meanwhile, guests can enjoy the Great Food Trip promo for P10,000 which gives them 10 vouchers which can be used in the integrated casino-resort’s in-house restaurants like Silogue and Victoria Harbour Café located at the Garden Wing Gaming Area, Silk Road restaurant in the Grand Wing Gaming Area, and restaurants from partner hotels like The Terrace at Maxims Hotel, Kusina by Hilton Manila, S Kitchen at Sheraton Hotel Manila, Marriott Cafe at Marriott Hotel Manila, Savoy Café at Savoy Hotel Manila, and Café Belmont at Belmont Hotel Manila.

Each voucher allows the guest to enjoy either a dinner or lunch buffet at the restaurants, though in the case of Silk Road and Victoria Harbour Café, customers can choose from 10 of the restaurants’ “best-selling dishes,” as much as they want.

For those who like staycations, RWM is offering the “Grand Staycation Package” for P28,000 where customers can enjoy overnight stays at six of the property’s hotel brands: Holiday Inn Express Manila, Belmont Hotel Manila, Savoy Hotel Manila, Hilton Manila, Sheraton Manila Hotel, and Marriott Manila Hotel.

For more information on the promotions, visit www.rwmanila.com or download the RWM Mobile app. — ZBC

World Bank commits additional $280-million funding for PRDP

By Carmelito Q. Francisco, Correspondent

DAVAO CITY — The World Bank has committed to add another $280 million fund for the Philippine Rural Development Project (PRDP), Agriculture Secretary William D. Dar announced Saturday.

In a news conference here over the weekend, Mr. Dar said the fresh funding is expected to be downloaded next month to the program, which is being implemented with the Department of Agriculture (DA) as lead agency.

“We have talked with World Bank and they have agreed to add another $280 million,” he said.

The World Bank made an additional allocation after seeing that the PRDP has been proven as an effective “mechanism in uplifting the people in the rural areas,” he told BusinessWorld on the sidelines of the conference.

Implemented starting 2014, the PRDP had an initial funding of P27 billion and an additional $450 million was approved in December 2018.

Based on the online PRDP monitoring data, there are 797 projects under the Intensified Build Up of Infrastructure and Logistics for Development (I-BUILD), of which 455 are already approved and 342 in the pipeline.

I-BUILD projects have a total cost of P55.86 billion, including the World Bank loan proceeds, counterpart from the national government and the 10% equity from the local government unit (LGU) beneficiary.

On the other hand, the 675 I-REAP projects have a total cost of P2.58 billion.

VALUE CHAIN ANALYSIS
Mr. Dar also announced that the DA is planning to institutionalize the value chain analysis used in the PRDP.

LGUs applying for PRDP funding are required to submit a value chain analysis relating to their project and a Provincial Commodity Investment Plan.

The DA chief acknowledged that these requirements have inhibited some LGUs from submitting proposals, but he said local officials need to step up their capacity while the DA works on simplifying procedures.

“What we will do is to simplify the process without sacrificing due diligence,” he said.

PRDP Mindanao Program Director Ricardo M. Oñate, Jr., who confirmed the additional fund, also said that LGUs need to learn that such methods as having a value chain analysis for projects improves governance.

“In the long run, this will motivate them to craft programs that have strong foundations and have real goals and quantifiable targets,” Mr. Oñate told BusinessWorld.

RedDoorz attracts more investors

REDDOORZ, a hotel management and booking platform, last week raised $70 million at the first close of a larger Series C funding.

Singapore-based growth equity firm Asia Partners, Rakuten Capital, and Mirae Asset-Naver Asia Growth Fund, joined the funding round. Existing investors Qiming Venture Partners and International Finance Corporation (IFC) also participated in the round.

The Series C investment brings to $140 million the total of funds raised by RedDoorz since it launched in 2015.

“We are thrilled to welcome a new group of seasoned investors joining us in our mission to build the leading tech-enabled affordable travel brand in Southeast Asia. This new round is a testament to our strong business growth and market leadership position we were able to build during the last few years. RedDoorz operates in some of the most dynamic markets in the world and we see tremendous opportunities to continue growing our platform and expanding into new markets,” Amit Saberwal, founder and CEO of RedDoorz, was quoted as saying.

RedDoorz said it will use the new funds to enter new markets, launch customer experience projects, and invest in people and marketing. A portion of the proceeds will be used to build a second engineering hub in Vietnam.

The company also plans to boost its hotel staff and quality training programs across all properties in Singapore, Indonesia, Vietnam and the Philippines. As of the first quarter, RedDoorz has more than 150 hotels across 10 cities in the country, including Metro Manila, Baguio, Pampanga, Tagaytay, Palawan, Cebu, Iloilo, Bacolod and Davao.

RedDoorz also added Bohol, General Santos City, Roxas City and Caticlan as new destinations.

DMCI Homes launches new condo in Pasay City

DMCI Project Developers, Inc. has launched a new residential condominium in Pasay City, targeting first-time homeowners and young families.

The company, which operates the residential brand DMCI Homes, said in a statement that it has unveiled Aston Residences, a 45-storey tower along Dominga Street. The project will offer one- to three-bedroom units covering 30 to 87 square meters at a price range of P4.81 million to P10.87 million each.

DMCI Homes looks to attract first-time homebuyers, young families, and young professionals for the project, banking on its proximity to several universities and central business districts.

Aston Residences will rise within the vicinity of De La Salle-College of Saint Benilde, St. Scholastica’s College, University of the Philippines Manila, the Asian Institute of Management, and Mapua University.

The company also noted that it is near Makati Central Business District, the Bay Area, and Roxas Boulevard.

Aston Residences’ amenities include a fitness gym, lap pool, kiddie pool, podium deck garden, entertainment room, play area, and a Sky Promenade.

DMCI Homes will also include a laundry station, convenience store, and a water refilling station.

Aside from end-users, the company also hopes to attract investors to acquire units.

“DMCI Homes is optimistic that the new project called Aston Residences will generate good interest not just from end-users but also investors who are counting on big returns from competitive rental income and capital appreciation potential,” the company said in a statement.

It targets to complete the project by March 2024.

DMCI Homes has committed to launch seven projects within the year, two of which have been unveiled during the first half. The two projects located in Quezon City are seen to generate P10 billion worth of sales.

The company said other projects to be launched will be located in Pasig City, Las Piñas City, Mandaluyong City, Davao City, and Cebu City.

DMCI Homes booked a net income of P1.23 billion in the first half of 2019, 34% lower year on year, due to the absence of a one-time gain from the sale of land last year. Excluding this, core net income was up 6%.

Reservation sales for the period went down 13% to P20.1 billion, mainly because of the timing of project launches. It looks to record P38 billion in reservation sales for the entire year.

DMCI Homes is part of diversified engineering conglomerate DMCI Holdings, Inc., whose interests also include power, mining, construction, and water. — Arra B. Francia

Concert supports special needs inclusion

ENJOY MUSIC from artists like Ice Seguerra, the Itchyworms, and more while supporting a worthy cause on Sept. 13 at the Music Museum in Greenhills, San Juan.

Titled Hope Rising, the concert aims to support “special needs inclusion” as “100% of the proceeds will go to building businesses for young adults with special needs to work in,” according to the Gourmet Gypsy restaurant Facebook page.

The restaurant is one of the co-presenters of the concert alongside Gardenia Bakeries Inc., Philippines.

The concert lineup includes the aforementioned Ice Seguerra and the Itchyworms, performing alongside actors/comedians Candy Pangilinan, Jerald Napoles, and Nar Cabico.

Hope Rising will be on Sept. 13, 7 p.m. at the Music Museum in Greenhills, San Juan City. Tickets range in price from P500 to P1,500. For ticket inquiries and donations, call 400-4772 or 0919-991-7496. Tickets are also available at the Music Museum box office at 721-6726 or via Ticketworld.com.ph.

ADB’s technical support for PHL infrastructure at $77M

THE ASIAN Development Bank is supporting the Philippines’ infrastructure push.

By Denise A. Valdez, Reporter

THE ASIAN Development Bank (ADB) has so far awarded $76.79 million to support the Philippines in creating a pipeline of infrastructure projects that may be implemented by the next administration.

In an August 2019 Procurement Plan uploaded on its website, the ADB said it has already awarded the country a technical assistance loan of $23 million for road and bridge consultancy, $25.54 million for transportation consultancy and $28.25 million for water consultancy.

This forms part of the $100-million ADB budget for the Philippines to finance the Infrastructure Preparation and Innovation Facility (IPIF) project, which has a total cost of $164.06 million, of which the $64.06 million remainder will come from the government.

Public Works and Highways Secretary Mark A. Villar told reporters last week the ADB loan is being utilized to conduct feasibility studies for projects that may be implemented after President Rodrigo R. Duterte steps down in 2022.

“Right now, we have a facility from the ADB, the IPIF… That’s $100 million para gumawa ng mga feasibility studies (to do feasibility studies) that are worth tens and billions of pesos-much higher than what was left with us,” he said.

Itong pipeline, ito’y feasibility study (The pipeline, through feasibility studies, are) ready to implement projects. So at least, even after the term of this administration, marami pang mga projects (there are plenty of projects to be implemented),” he added.

The IPIF will be executed by the Department of Finance and implemented by the Department of Public Works and Highways (DPWH) and the Department of Transportation (DoTr).

The ADB said it wants to help DPWH and DoTr “materialize the goals of infrastructure investment” through the loan, as these pre-investment activities “will in turn help accelerate the Investment Coordination Committee (ICC) review and approval process” of infrastructure projects.

Mr. Villar said doing the feasibility study takes about a year and costs millions of dollars, therefore having it prepared can make it easier for the next administration to implement a project as it would only require the detailed engineering design.

“Feasibility study is the most difficult part in any big ticket [project]… Kapag may feasibility study na na full-blown, mas madali na yung implementation (When there’s a full-blown feasibility study, implementation is easier),” he said.

The Duterte administration has been pushing for increased infrastructure spending through the Build, Build, Build program to catch up on the infrastructure backlog in the country.

Mr. Villar earlier said the pipeline of projects when the administration came in is less than P50-billion worth of projects, and they envision to have about a trillion pesos worth of projects to hasten the ramping up of road and transportation networks across the country.

“When we came in, we didn’t have a large pool of shelved projects. So we really had to create our own pipeline; that’s what we spent the first two years doing. But now, we have a very healthy pipeline of projects that will carry even beyond the next administration for many administrations,” Mr. Villar said in an interview last year.

Metro Retail to build supermarket in Bacolod

METRO RETAIL Stores Group, Inc. (MRSGI) recently broke ground for a new supermarket in Bacolod, Negros Occidental.

The Metro Supermarket Sum-Ag will rise on a 6,377-square meter property along Araneta Street, National Highway.

“(The) new Metro store in Sum-Ag is expected to help boost the community’s economy and provide employment opportunities,” MRSGI said in a statement.

MRSGI currently operates in 54 stores in Central, Western, and Eastern Visayas, as well as in Central Luzon, Metro Manila, and South Luzon.

SMEs encouraged to adopt digital payments system

SMALL and medium enterprises (SMEs) are being encouraged by PayMaya Philippines, Inc. to invest in digital payment systems to expand their customer base.

In a statement, the digital wallet arm of PLDT, Inc. said that having the capability to facilitate digital transactions will help SMEs improve business operations, as it will provide a more seamless means to connect to other entities.

“Businesses — big or small — can easily start their digital transformation by installing a digital payment system that will allow it to tap and connect to a larger audience and work seamlessly with other companies and the public sector,” PayMaya President Shailesh Baidwan said in the statement.

A recent report by Ernst & Young Global Ltd. showed SMEs in the Philippines are expected to continue investing in current and transformative technologies in the next three years to catch up on the rest of the region.

PayMaya said investing in technology is expected to “(drive) consumers to purchase through different channels.”

“We are in a time where there is an accelerated real-time expectation from consumers that businesses have to meet. On the other hand, there is an increasing desire for companies to improve efficiencies, reduce operational risks, and respond to innovation. All these can be addressed by digital payments,” Mr. Baidwan said.

Among PayMaya’s business solutions are plug-ins, e-mail invoicing, quick response (QR) technology and an all-in-one terminal for payments.

PLDT’s digital arm Voyager Innovations, Inc., which handles PayMaya and Smart Money, among others, is targeting to have 30 million users in its platforms by next year.

Voyager is backed by China’s Tencent Holdings Ltd.; US-based Kohlberg Kravis Roberts & Co. (KKR); International Finance Corp. (IFC); and IFC Emerging Asia Fund.

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