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AC Energy to invest in Zambales solar power plant

AYALA-LED AC Energy Philippines, Inc. said on Tuesday that its board of directors had approved the company’s investment in a 60-megawatt (MW) solar power plant project in Palauig, Zambales.

The solar power plant will be constructed through the company’s unit AC Energy Development, Inc., it told the stock exchange in an update of its earlier disclosure when AC Energy Philippines’ board approved the acquisition of a bigger stake in solar farms in the Visayas.

On Nov. 12, AC Energy Philippines said its board had ratified the company’s plan to acquire an investment fund’s stake in a wind farm in north Luzon and full ownership interest in two solar farms in Negros Occidental.

The company said its board of directors had also approved additional short-term credit lines of up to P8 billion, and the budget for 2020, which it did not disclose.

The regular board meeting, which was held on Nov. 11, ratified the executive committee’s approval to enter into a share purchase agreement with the Philippine Investment Alliance for Infrastructure (PINAI) fund for the acquisition of the latter’s ownership interest in Philippine Wind Holdings Corp., the parent company of North Luzon Renewables Energy Corp.

The board has also approved the purchase of up to 100% of PINAI fund’s ownership interest in San Carlos Solar Energy, Inc. (Sacasol), which owns and operates a 45-megawatt (MW) solar farm in San Carlos City, Negros Occidental. The solar farm is operating under the feed-in-tariff (FiT) regime.

Also approved was the acquisition of up to 100% of PINAI fund’s ownership interest in Negros Island Solar Power, Inc. (Islasol), which owns and operates an 80-MW solar farm in Negros Occidental.

AC Energy Philippines earlier reported a third-quarter net income attributable to equity holders of the parent firm of P203.38 million, reversing the P80.49-million loss in the same period last year. Revenues during the quarter reached P3.22 billion, down 8% from a year ago.

In the nine months to September, attributable losses reached P348.48 million, bigger than the P130-million losses a year ago.

On Tuesday, shares in AC Energy Philippines slipped 0.77% to P2.58 each. — Victor V. Saulon

CredoLab looking to diversify clientele

SINGAPORE-BASED financial technology (fintech) player CredoLab is targeting to “diversify” its clientele in the Philippines and offer its data analytics solutions to non-bank firms by next year, a senior official said.

In an interview last week, CredoLab Chief Product Officer Michele Tucci said this will allow firms outside the financial industry to use their software in analyzing customer behavior and match them with insurance and banking products.

Mr. Tucci said that they are bringing this strategy, which it started in Indonesia, to the Philippines to offer their services to other industries housing large databases such as airlines and those in the e-commerce sector.

“So we are looking at diversifying our clientele. You will see large database owners such as a retailer or an airline saving facility to leverage our analytics solution as a service for them. We are not going to simply score customers for credit risk assessment, but analyze customer behaviors and match them with insurance products and banking products so the large database owners can monetize the data,” Mr. Tucci told BusinessWorld in an interview.

“For the company, they get a revenue share from the insurance or banking products, while for the users, they get relevant products at fair prices,” he added.

The Philippines is currently CredoLab’s second-largest market out of its 14 partner-countries, only next to Indonesia. Of the 3.5 million scores CredoLab is expecting to produce this year, he said one million will come from the Philippines alone.

To ensure data security and privacy protection, Credolab’s software only accesses the metadata, which Mr. Tucci referred to as “the data about the data,” instead of personally identifiable information (PII) which is the exact personal information of clients.

He said through metadata such as location, frequency, and distribution, among others, they can analyze the customer’s behavior for credit scoring — even for those with no credit history — for risk assessment and detecting fraudulent activities.

So far, the four-year old company is servicing the “top four banks and the largest multi-finance firm in the Philippines,” as well as several banks and lenders.

However, Mr. Tucci emphasized the need for greater financial literacy among Filipinos to further maximize the use of metadata for data security and help them minimize their exposure to fraudulent activities such as the mobile lending applications that use PII to shame their clients online.

In September alone, the Securities and Exchange Commission shut down more than 30 illegal online lenders after it received complaints from victims of debt shaming by these fraudulent lenders.

Mr. Tucci said banks here were “quick” to adopt fintech to integrate in their operations and shift from its traditional know your customer (KYC) approach, but implementation has been slower than expected.

He urged banks to start digitizing to streamline their services since the traditional KYC method “is very manual, labor intensive.”

“The banks realize that they want to partner with fintechs but then it takes time for them to go through the procurement process, integration of the technical solution and then deployment,” he said. — Beatrice M. Laforga

Kärcher returns to clean its 3rd cultural site in PHL

AFTER THE cleanup of the Rizal Monument in Luneta Park in December 2017 and the People Power Monument along EDSA in February 2018, German cleaning equipment manufacturer Kärcher returned to Manila for the weeklong restorative cleaning of the UNESCO World Heritage Site, the San Agustin Church in Intramuros, Manila.

Two years ago, Thorsten Mowes, cleaning expert at Kärcher Inc., toured Manila and Intramuros after they cleaned the Rizal Monument.

“We had a stop here at the church, and I thought that it would also be nice to support the church with our cleaning efforts,” Mr. Mowes said during a press event on Nov. 14.

The cleanup is part of the company’s cultural sponsorship program, Kärcher Cleans the World, which was initiated in 1980 and has since cleaned more than 140 structures worldwide including the colonnades of St. Peter’s Square in Rome, the Christ the Redeemer Statue in Rio de Janeiro, and Mount Rushmore National Memorial in the United States.

Completed in 1607, the San Agustin Church is the oldest stone church in the country. Through time, it has gathered organic vegetation on its natural stone exterior.

According to San Agustin museum director Rev. Fr. Ricky Villar, OSA, the last time façade underwent intensive cleaning was six years ago when they manually scrubed its walls.

Mark Palisoc, Kärcher Philippines General Manager, told members of the press that for a Philippine site to be involved in the program, Kärcher Inc. submits a proposal to both the general headquarters in Germany and the management of the chosen site. Once the parties involved approve, an inspection of the site and testing is conducted to determine which cleaning method and device is best for the structure.

THE CLEANING PROCEDURE
Kärcher is using hot water high-pressure cleaners emitting gentle steam — the same technology it used to clean the Rizal monument. The cleaning, which will be finished tomorrow, involves Mr. Mowes and two technicians.

During his demonstration, Mr. Mowes heated the water to the maximum (150 °C) and activated the “gentle steam” setting. Then, he slowly moves the steam over the surface of a section of San Agustin’s façade five times. The difference between the cleaned and not-cleaned areas were considerable. Mr. Mowes explained that the importance of removing biological growth goes beyond the structure looking dirty. “The alga [especially lichens] can produce an acid which can destroy the stone underneath. So if it’s a layer full of biological growth, the substance behind it will be damaged afterwards. So, that’s why it’s good to remove it from time to time.”

He added that other cleaning methods such as the use of strong detergents and chemicals are not only abrasive to the surface but also bad for the environment.

For maintenance, Mr. Mowes advised stone structures to undergo cleaning every five to 10 years to avoid further biological growth. As for future projects in the Philippines, Mr. Palisoc said: “We would love to get more opportunities and more approval from our general headquarters.” — Michelle Anne P. Soliman

PHirst to launch 2 projects in Laguna, Batangas

AFFORDABLE housing developer PHirst Park Homes, Inc. (PPHI) aims to generate around P3.5 billion from two residential projects to be launched in Laguna and Batangas before the end of 2019.

“We are launching two more projects before the end of the year in line with our goal of rolling out 33,000 homes by 2023. With the consistently strong market demand PHirst Park Homes continues to be bullish in expanding its footprint in key growth centers in Luzon,” PPHI President and Chief Executive Officer Ricky M. Celis was quoted as saying in a statement.

The two horizontal projects will have a combined total of 1,912 units with a sales value of P3.5 billion.

Mr. Celis said the nine-hectare property in Calamba will offer 891 units and is scheduled to be launched on Nov. 23.

In Nasugbu, Batangas, PPHI will offer 1,021 units on a 13-hectare property. He said the company hopes to secure the permits and license for the Nasugbu project before it is launched in December.

“PPHI goes beyond the basics as we bring various innovative design concepts and amenities that would allow residents to fully enjoy their hard-earned investment. By the end of this year the company will also launch a new system that would further simplify the buying experience to make it easier for buyers to own their very first home,” Mr. Celis said.

PPHI, the joint venture of Century Properties Group, Inc. and Japan’s Mitsubishi Corporation, has four existing projects. It has projects in Pandi, Bulacan; Tanza, Cavite; Lipa, Batangas; and San Pablo, Laguna.

With the six projects, PPHI would have launched 117 hectares with a total of 10,839 units valued at P19 billion.

As of end-October, the company has finished 517 units and sold 4,630 homes valued at P7.7 billion.

RBA weighed policy easing, opted to assess impact of past interest rate cuts

AUSTRALIA’S CENTRAL BANK considered cutting interest rates at its latest meeting, but decided instead to hold steady and monitor the impact of earlier easing amid concern that households were being spooked by very low borrowing costs.

In minutes of its Nov. 5 meeting released Tuesday in Sydney, the Reserve Bank of Australia (RBA) said the board recognized the “negative effects” of lower rates on savers and sentiment. It kept the cash rate unchanged at a record-low 0.75%.

“A case could be made to ease monetary policy at this meeting,” the RBA said. The board “also discussed the possibility that a further reduction in interest rates could have a different effect on confidence than in the past.”

The central bank has cut rates three times since June as it tries to spur hiring and investment to accelerate growth in an economy that has slowed sharply in the past 12 months.

Yet so far, only the housing market has responded as usual to lower rates, with consumption remaining tepid and confidence weak.

Still, the cuts have allowed the board to keep a lid on the currency at a time when the Federal Reserve was easing — both the RBA and Fed lowered rates by 75 basis points this year. The US has since signaled that it’s on hold, giving RBA Governor Philip Lowe some breathing room on when to deploy his remaining conventional ammunition.

The Australian dollar declined after the release, trading at 67.90 US cents at 12:20 p.m. in Sydney, from 68.06 cents just before the minutes were published.

“Global financial markets were signaling a decline in pessimism, which, if sustained could lead to better-than-expected outcomes for the global economy,” the RBA said.

It decided “the most appropriate approach would be to maintain the current stance of monetary policy and to make another full assessment once more evidence of the effects of the earlier monetary easing had become available.”

WEAK WAGES, JOBS
Since the meeting, salary and employment data have both come in weaker, with wages rising an annual 2.2% and unemployment climbing to 5.3% as the economy shed jobs for the first time in over a year. The RBA is trying to return inflation to its 2%-3% target and needs the jobless rate to fall to spur wage gains and push up consumer prices.

“It appears that the ‘on hold’ decision was not made lightly,” said Gareth Aird, senior economist at Commonwealth Bank of Australia, which forecasts a cut next February. “We view this new information and its inclusion in today’s minutes as a dovish tilt.”

Traders are pricing in a chance of another quarter-percentage-point cut in the first half of next year that would take the cash rate to 0.5%. Lowe has said the lower bound of policy is probably around 0.25%-0.5%, suggesting that another cut could open the door to unorthodox policy measures.

The central bank reiterated Tuesday that “it was reasonable to expect that an extended period of low interest rates would be required in Australia to reach full employment and achieve the inflation target.” The bank also repeated it was prepared to ease policy further if needed.

Lowe has been pressing the government to lift spending to bring fiscal policy in line with monetary policy. But the government has so far resisted as it aims to return the budget to surplus.

The RBA forecast “moderate” economic growth for the third quarter that ended in September. Spare capacity is likely to remain in the labor market “for some years,” it said. — Bloomberg

Holiday auctions in 2 cities and a website with cause

FROM ITS regular auctions in Makati City, Salcedo Auctions is extending its reach and fundraising efforts through its subsidiary brand Gavel&Block by holding a sale in Pasig City for the first time, in conjunction with its new online platform.

Salcedo Auctions’s auction series Under the Tree this month will include two unique sales: The Wish List by Salcedo Auctions, and The Holiday Sale by Gavel&Block.

The pieces in The Wish List auction are carefully selected Philippine art, rare furniture, and tribal and ethnographic art. Some items include a monumental Gothic tambol aparador from the 19th century, a solid ivory Salvador del Mundo statue from the 18th century, Emmanuel Garibay’s painting Mendiola (2010), Mauro “Malang” Santos’ painting Pahiyas (1963), and an untitled Napoleon Abueva kamagong wood sculpture from 1986.

Under the Tree: The Wish List will be held on Nov. 23, 2 p.m., at the Salcedo Auctions headquarters at the NEX Tower in Makati City. The public preview is ongoing from 10 a.m. to 6 p.m. daily until Nov. 22.

On Nov. 30, Gavel&Block will hold the Under the Tree: The Holiday Sale auction at 2 p.m. at the Lobby of The Podium West Tower, Ortigas Center in Pasig City.

This auction focuses on Philippine art, jewelry and timepieces, design collectibles, and historic memorabilia. The items for auction include a 1960s flat-face Murray pedal car, a Tiffany & Co. 18k white gold and diamond “Star Key” pendant necklace, a 1970s Patek Philippe yellow gold square bracelet watch, a Christian Dior mink jacket, and a 2015 untitled BenCab digital print.

“At Salcedo Auctions, we have always strived to create experiences that people will remember, whether it’s through purchasing art or participating in the auction process,” Victor Silvino, managing director of Salcedo Auctions said in a press release.

“With Gavel&Block at The Podium, we hope to not only bring the auction experience to a whole new set of art and design enthusiasts, but also to reinforce the robust retail environment that is so crucial in the upwardly mobile, progressive direction that our country is headed. We have always hoped for more people to appreciate what we have to offer through our different brands and sales,” he added.

The public preview will be held daily from Nov. 21 to 29, 11 a.m. to 10 p.m., at the Ground Floor of The Podium.

CHARITABLE ACTS ONLINE
To reinforce the spirit of giving, Salcedo Auctions launches its new online platform, Bid for the Future (bidforthefuture.org).

“Sometime [in the] middle of this year, Salcedo Auctions was approached by a Spanish fundraising web-based company that wanted to be able to expand the fundraising experience [in the country],” Salcedo Auctions director Richie Lerma told the press on Nov. 11 at Ça Va Creperie & Floral Atelier in The Podium, adding that the company had attended the previous Gavel&Block auctions.

Mr. Lerma and his wife Karen, then sought the help of their 16-year-old son Joaquin, a Grade 11 student taking the Science, Technology, Engineering and Mathematics (STEM) strand, in developing an online platform for donations.

Young Joaquin Antonio Lerma, who is the Bid for the Future project head, chose Escuela Taller, an NGO founded in 2009 that educates and trains underprivileged youth in preserving and restoring built cultural heritage, as the first beneficiary.

“Our main goal is to ensure that donating to charities are sufficient and convenient for people. I want to make sure that Bid for the Future promotes causes that will ensure change,” he said, via live video call during the press launch.

“Right now, my first and foremost passion is history. That’s how I decided that our first initiative will be about conservation,” he added.

The website includes information about Bid for the Future and the projects of Escuela Taller de Filipinas Foundation. Donors may contribute any amount and settle them through Paypal or debit card transactions.

“It was quite clear to me that my first project would be about promoting history and preservation. So I wanted but I wanted to make sure that the organization I choose would be able to use the funds efficiently and effectively,” Joaquin Lerma said.

“[I]t expands the idea of being able to help,” his father said. “Everybody can be a part of building for the future.” Salcedo Auctions’ Under the Tree online catalogues are available at salcedoauctions.com. For inquiries, e-mail info@salcedoauctions.com or call 8659-4094, 8823-0956, 0917-107-5581. Follow @salcedoauctions on Facebook and Instagram. — Michelle Anne P. Soliman

Max’s Group, subsidiary sign DBP loan agreements

MAX’S GROUP, Inc. (MGI) and one of its subsidiaries are tapping loan facilities of the Development Bank of the Philippines (DBP) to raise a combined amount of P2 billion.

The listed casual dining firm told the stock exchange yesterday it signed a P1-billion five-year loan agreement with DBP. The cash to be generated will be used to fund “existing short-term loans to mitigate financing costs and to fund general corporate requirements.”

Its wholly-owned subsidiary, No Bia, Inc., likewise entered a separate, 10-year loan agreement with the DBP to raise P1 billion. MGI said this will be used to pay for the construction and commissioning of a new commissary in Carmona, Cavite.

“The loan is secured by a suretyship extended by MGI,” it added.

MGI announced in May it is constructing the P1-billion No Bia Food Manufacturing and Distribution Center in Cavite. The commissary, which is targeted to open in 2020, will support MGI’s planned store expansion.

Once operational, the commissary will support MGI’s brands which include Max’s Restaurant, Pancake House, Yellow Cab Pizza, Krispy Kreme, Jamba Juice, Max’s Corner Bakery, Teriyaki Boy, Dencio’s and Sizzlin’ Steak.

The company earlier said it is committing to spend P600 million for capital expenditures in 2019.

MGI is targeting to open 80 new stores before 2019 ends. It previously said it was able to open 50 new stores as of end-September, increasing its pool of restaurants to 730 branches worldwide.

The company’s net income in the nine-month period stood at P494.77 million, up 9.8% from last year, driven by the increase in its franchised stores.

Shares in MGI at the stock exchange traded flat on Tuesday, closing at P12.50 each. — Denise A. Valdez

US monetary policy ‘in a good spot,’ says Mester

COLLEGE PARK, Md. — The current level of interest rates is appropriate for the US economy and the Federal Reserve should now pause as it monitors how the economy evolves, Cleveland Fed President Loretta Mester said on Monday.

“We think that policy now is well calibrated to the economy and we are really going to be looking at the data going forward to see whether any adjustment is needed in that policy..so we’re in a good spot,” Mester said during an event held at the University of Maryland.

Mester, who has been against all three interest rate cuts this year, is the latest US central bank policy maker to emphasize the Fed is now effectively on hold with interest rates.

The US Federal Reserve cut interest rates in July for the first time in a decade and followed that with a further two reductions at subsequent meetings in September and October.

Mester said that while she was against last month’s rate decision, she was sympathetic to the reasons for it and it was “a close call.”

Since that meeting Fed Chair Jerome Powell and others who have publicly spoken have also made clear they are now looking to keep interest rates unchanged over the coming months unless there is a material deterioration in the US economic outlook.

The moves had been characterized as a “mid-cycle” adjustment designed to offset headwinds to the US economy from slowing global growth and the US-China trade war, which has hurt manufacturing and business investment.

But fears that such weakness could spread to the wider economy have not materialized with the US economy growing moderately, unemployment near a 50-year low and consumer spending, which accounts for roughly 70% of US economic activity, holding up.

Mester has cited those strengths as evidence of a resilient economy in her reasoning for not supporting this year’s reduction in borrowing costs.

Mester repeated her view the US economy is doing well, with economic growth around trend, the labor market still solid and the Fed’s preferred measure of inflation gradually moving back toward the central bank’s 2% goal.

Like her colleagues, she said she was now watching and waiting to see if sectoral weakness spreads to the wider economy but so far the US consumer has been strong.

Asked her view on negative interest rates, Mester told the audience that Europe’s use of them “is perhaps working better than I might have anticipated” but added she is not supportive of such an approach in the United States should there be a downturn.

“Our financial markets are very different than theirs. We are more market-centric,” Mester noted, adding she would prefer a return to quantitative easing and forward guidance, given they have already been successfully used in the past.

The Cleveland Fed chief does not currently have a vote on interest rate policy but participates fully in deliberations. She regains a vote on the Fed’s policy committee next year. — Reuters

Arts & Culture (11/20/19)

Launch of Anthology of European Speculative Fiction

THE European Union National Institutes of Culture (EUNIC) Philippines, and Anvil Publishing will officially launch Haka: European Speculative Fiction in Filipino on Nov. 28, 2 p.m., at Instituto Cervantes branch at the Plaza San Luis Complex, Intramuros, Manila. The book, an anthology of 16 pieces of speculative fiction from seasoned writers across Europe, was compiled by Julie Nováková and former Czech Ambassador Jaroslav Olša, Jr. and translated in Filipino by Susanna Borrero and Louise Lopez. The collection includes stories about getting trapped in a space-time continuum, heroes bringing deviation back into the world, and living two extra hours each day but with bitter consequences. The anthology has an introduction by Julie Nováková and features the works of Peter Schattschneider, Ian Watson, Hanuš Seiner, Richard Ipsen, Johanna Sinisalo, Aliette de Bodard, Michalis Manolios, Péter Lengyel, Francesco Verso and Francesco Mantovani, Tais Teng, Stanislaw Lem, Pedro Cipriano, Zuzana Stožická, Bojan Ekselenski, Sofía Rhei, and Bertil Falk. It is the third book in the series spearheaded by EUNIC Manila, following Layag: European Classics in Filipino (2017) and Agos: Modern European Writers in Filipino (2018). The book will be available for P250 at select National Book Store branches, and online through www.anvilpublishing.com and www.national bookstore.com.

Artist groups collaborate for children’s rights

THE Cultural Center of the Philippines (CCP), Center for Art, New Ventures & Sustainable Development (CANVAS) and Black CANVAS present “Batang Karapat-Dapat,” a Mini-Festival on the Rights of the Child, on Nov. 20-23 at various CCP venues. This multi-arts event brings together various artists from different fields to promote the rights of children and to mark the 30th anniversary of the UN Convention on the Rights of the Child. The highlight of this mini-festival is a storytelling collaboration performance entitled Mga Kuwentong Karapat-Dapat on Nov. 20 and 23, 2 p.m. Three CANVAS-published stories (Tahan Na, Tahanan, Nadia and the Blue Stars, and Inang Kalikasan’s Bad Hair Day) will come to life in the form of shadowplay, dance and music, focusing on the value of home, society and environment. Free admission to the shows and strictly by reservation only. For inquiries, please check the website and social media accounts of CCP, CANVAS and Black CANVAS.

A night of guitar music

Y SPACE at the Yuchengco Museum, The Guitar Friends, and Gitara Manila present ENCORE! Iconic Pieces of the Classical Guitar featuring performances by Duo Manila (Monching Carpio and Dr. Ivar Fojas); the beneficiaries of the Maestro Jose Valdez Guitar Scholarship Fund, Aaron Aguila, Edel Mark Bitao, Bea Rose Cena, Leandro Ong, and Iqui Vinculado, the PWU Guitar Ensemble, and the St. Scholastica’s College Guitar Ensemble. The concert will be on Nov. 21, 6:30 p.m. Tickets cost P700 (Regular), P500 (Seniors and PWDs), and P300 (students, YGC employees and embassy employees in RCBC Plaza). For tickets and reservations, contact yspace@yuchengcomuseum.org or call 8889-1234.

Jose Tence Ruiz at Kaida

ONGOING at Kaida Contemporary until Nov. 25 is potahMATIC, a solo exhibition by Jose Tence Ruiz. According to an exhibit description, the exhibit serves as a release valve for the frustration caused by the situation in the country. Kaida Contemporary is located at 45 Scout Madriñan St., South Triangle, Quezon City.

Anita Magsaysay-Ho works for the home

AFTER SEVERAL successful collections of art objects for the home by Filipino artists BenCab, Al Perez, Paulina Luz Sotto, Fernando Amorsolo and Arturo Luz, Rustan’s present “Offerings,” a collection of mementoes and objects for the home featuring the work of Anita Magsaysay-Ho. The collection includes art that Magsaysay-Ho painted on three plates during the period she lived in Tokyo, reproduced in limited edition by Bernardaud. Other pieces in the collection include artwork applied onto boxes, and drawings embroidered on cushion covers and napkins. The collection also includes giclee reproductions of selected artwork on paper. There will be a collection of Christmas and stationary cards, with images celebrating the Christmas season. “Offerings,” is available at the 4th Floor of Rustan’s Makati. Beginning January, the collection will be available at Rustan’s Alabang Town Center, Gateway, Shangri-La Plaza, and Cebu. A portion of the proceeds from the sale of the collection will be donated to the Anita Magsaysay-Ho Foundation which provides scholarships to deserving students and supports organizations promoting art and culture.

Exhibit on Martial Law victims on view

THE MANY faces who fought for freedom at the time of Martial Law are honored through Ang Tanda-Tanda Mo Na, Sinungaling Ka Pa Rin!, an exhibit of hand-sketched portraits of victims at the De La Salle University (DLSU) College of Law Rufino Campus. The large-scale artworks were produced by the young student-artists from The De La Salle-College of Saint Benilde (DLS-CSB) Fashion Design and Merchandising and Production Design Programs. The exhibit is on public view until Nov. 30 at the DLSU College of Law, Rufino Campus, 38th St., Bonifacio Global City, Taguig City.

Mo-Space exhibits

OPENING ON Nov. 23 and on view until Dec. 31 at Mo-Space’s Main Gallery is In Retrospect, featuring works by José Santos III, and Blanch to Sweeten by Pam Yan Santos at Gallery 2. As he reaches 50 years of age, José Santos III reflects on his career as an artist through the scope of his past exhibitions in and out of the country in In Retrospect. Meanwhile, Santos unceasingly captures the banal, the personal, and the domestic with the quintessential wit in her works. The gallery, located at MOs Design, Bonifacio High Street, BGC, Taguig, is open daily from 11 a.m. to 8 p.m.

NAMCYA finals start next week

THE National Music Competitions for Young Artists (NAMCYA) has been the home of talented young Filipino artists for almost 50 years. The second half of the year for NAMCYA was filled with competitions not just in Metro Manila but all over the Philippines. Semi-finals round started on Aug. 30 in Metro Manila and continued in Visayas and Mindanao for the whole month of September. At the same time, NAMCYA also offered Traditional Music Workshop free for all the teachers in the area which they call “Mentoring the Mentors.” The National Finals Competition runs from Nov. 26 to 29 at the Cultural Center of the Philippines (CCP). Three concerts will happen afterwards. The Concert for Solo Winners will be held at CCP on Nov. 30 alongside the Traditional Music and Rondalla Outreach Concert at the Rizal Park Open Air Auditorium’s Labs Kita Sabado program. The Concert of Winners will be on Dec. 1. The Finals Competition and the concerts will be open to the public and all free of charge. Claim tickets for the Finals Competition and the concerts at CCP’s lobby. For details contact the NAMCYA Secretariat at 8836-4928, or visit the Facebook page www.facebook.com/NAMCYA.

Passerby at Galleria

ROBINSONS GALLERIA presents Passerby, the first collective exhibit of Art Smart Teachers at the Mall’s Veranda, Level 3, which is on view until Nov. 30. The exhibit is about the different insights that the artists have gained from their individual experiences as a “passerby.” The 10 participating artists are Aubrey Decleodt, Jade Alfonso, Kaye Gorospe, Mandy Micaller, Marte Goyon, Thyra Batiancilla, Ron Mariñas, Summer de Guia, Eunice Vergara, and Alice Anatan.

Virgin Labfest goes to CDO

VIRGIN Labfest (VLF), the festival of “unpublished, unstaged, untested and untried” plays, brings its unang puga (first run) to Cagayan de Oro City from Dec. 4 to 7. This will be the first time the VLF ventures out of the Cultural Center of the Philippines (CCP) and into the regions to reach a wider audience. Co-presented by the CCP and the Liceo de Cagayan University, the “Extra Virgin Labfest” will feature nine one-act works, which were selected from the manuscripts submitted by regional playwrights. Presented on Dec. 4, 7 p.m., are back-to-back performances of Dominique Beatrice T. La Victoria’s Ang Bata sa Drum (about a young boy who finds comfort inside a drum after he is punished by his father), which will be directed by Tat Soriano, and Maynard Manansala’s Dalawang Gabi (two separate encounters between a middle-aged teacher and her former student), directed by Hobart Savior. Presented on Dec. 5, are Gil Nambatac’s Si Balaw ug ang Lablab sa Palawpaw (foreign invaders disturb the lives of an indigenous community), directed by Roland Rivera; Darren Bendanillo’s Banga (the story of a refugee as she attempts to cross a checkpoint manned by a brutish soldier), directed by Zip Mercado de Guzman; and Norman Isla’s Daang Papunta, Daang Pabalik (two siblings are caught in a rift between the military and the rebels), directed by Pepito Sumayan. To be presented on Dec. 6 are Mario Lendel Barinque’s Ang Mga Babae sa Kusina (a househelp who remembers the children she had raised in her last hours on earth), directed by Denise ‘Honey’ Aguilar and Jesus Christopher Salon; Jim Raborar’s Bulan (five teachers try to break a curse), directed by Tat Soriano; and Aldren Alferez’s Crystal Clear (a teacher tries to clear her name), directed by Maia Poblete. To be presented on Dec. 7 are Angelo Dabbay’s Pultahan (a confused man struggles to open a door that does not budge), directed by Hobart Savior and Kenneth Sabijon; Reil Benedict Obinque’s Act of Contrition (a young man who confronts a priest after past trauma), directed by Anito Librando and Jet Paclar; and Karlwinn Paitan’s Unsay Koneksyon sa Iring (after stray cats enter their home, a minor accident leads the family to reveal their secrets), directed by Felimon Blanco.

MyEG Philippines partners with Multisys Technologies

FINANCIAL technology solutions provider MyEG Philippines tapped Multisys Technologies Corp. as its preferred Philippine technology partner to serve companies and government agencies with software system solutions.

“We look forward to this synergistic collaboration with Multisys as we continue to expand our reach in the Philippines. This will enable us to offer a wider and more enhanced platform for essential services accessible anywhere at any time,” MyEG Philippines President Ronald Aquino said in a statement.

The deal will allow a “seamless experience to customers using financial technology platforms that are activated in Multisys eBusiness and eGovernment platforms.”

“Multisys is set elevate the country’s various industries through our software solutions, which will drive the growth of the Philippine economy. Having the privilege to enrich the everyday lives of the Filipinos is certainly fulfilling for us. Our partnership with MyEG further strengthens our shared goal to make IT in the Philippines more functional and expansive,” Multisys President and Chief Executive Officer David Almirol, Jr. said.

The two companies are also discussing ways to bring their partnership abroad.

Multisys, which is backed by telecommunications giant PLDT, Inc., is working with local government units on Smart City and Smart Government projects.

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.

Manufacturing takes a backseat despite improved Q3 GDP growth (2019)

Manufacturing takes a backseat despite improved Q3 GDP growth (2019)

How PSEi member stocks performed — November 19, 2019

Here’s a quick glance at how PSEi stocks fared on Tuesday, November 19, 2019.

 

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