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Malaysian firm eyes waste-to-energy PHL projects

By Victor V. Saulon
Sub-Editor

A MALAYSIAN company has pledged to invest up to $2 billion to put up 12 waste-to-energy (WTE) facilities in the Philippines in partnership with Filipino company Integrated Green Technology, Inc. (IGT) and a French technology provider.

Michael C. Jimenez, chief executive officer and president of IGT, identified the Malaysian firm as PhilSar Renewable Energy Sdn Bhd. and the French group as CNIM Martin Pte Ltd. (CMPL), his partner in at least three WTE projects in the Philippines that have forged contracts with local government units in Pangasinan and Cebu.

“We’re excited about this,” he said in an interview after a conference on Friday to announce that company’s three WTE projects, two of which are in Cebu and one in Pangasinan.

The initial projects will cost about $230 million and will be funded by Allied Project Services Ltd. of London. The WTE projects earn from the fees collected from local government units, which have difficulty managing their waste disposal.

Mr. Jimenez said the projects in Cebu will be on Mactan island and on the main island itself, while another one in Cebu City is being finalized. Another project is also in the pipeline in Pangasinan.

Dolores S. Rivera, chief finance officer of PhilSar, said the partners will form a local company for the 12 projects, which are targeted for completion in about five years.

“[PhilSar] is investing $2 billion to fund the said projects,” she said on Friday.

“We’re going to enter into a memorandum of agreement and right after [that], we’re going to sit down with the foreign EPC (engineering, procurement and construction) contractors, then after that we’re going to enter into a joint venture,” she said in an interview.

She said the funds will be invested in 12 different cities in the Philippines for the construction of WTE facilities. She described PhilSar as owned by Filipinos and Malaysian-Chinese.

“We will be entrusting that to IGT,” she said when asked about the capacity of each facility. She estimated the power output of the 12 projects at 480 megawatts.

She said the joint venture partners will be participating in the ongoing projects of IGT in Cebu and Pangasinan, while a fourth one in Bulacan is set to follow after the acquisition of a property in San Jose Del Monte. Baguio is also a possible location for a WTE facility, she said.

“It depends on the trash, it depends on the hauling, it depends on the municipality waste kung gaano kadami,” she said. “Kung saan pinakamarami, doon pupunta.”

Asked about the timeline for completing the $2-billion WTE projects, she said: “I think about five, six [years].”

Denis Bauer, director and chief executive officer of CMPL, said what differentiates the French technology provider from other builders of WTE facilities is its paced approach in constructing its plants.

“Our approach is straightforward incineration,” he said. “With us, we take the waste, almost everything which has come, we can burn it.”

He said the business plan is more “compact” and requires a smaller loan than projects that include other segments such as waste recycling.

“So it’s much more simple. What we have decided with IGT is ‘let’s go first with waste-to-energy,’” he said, adding that the project will gain acceptance by showing that it works and is not polluting the environment.

DoF proposes sugar miller incentives as alternative to liberalized imports

THE Department of Finance (DoF) has proposed to raise the share of the sugar crop retained by sugar millers to give them more incentive to raise their efficiency levels, floating the restructuring of the planter-miller relationship as a possible alternative to liberalizing sugar imports.

Finance Secretary Carlos G. Dominguez III told reporters last week that he proposed that Senate Majority Leader Juan Miguel F. Zubiri consult the industry on increasing the millers’ take to encourage them to upgrade their machinery and improve their sugar-extraction yields.

Mr. Dominguez said the industry could look into a “new kind of relationship between a mill and the planter” since under the law, the mills get 30-40% of the crop while 60-70% goes to the planter, depending on the area.

Senators recently passed a resolution opposing the liberalization of sugar imports proposed by the DoF as a means of bringing down prices and making the food industry more competitive. The resolution cited the possible impact of liberalization on sugar industry jobs and the livelihood of small farmers.

“I also told Senator Zubiri that the other problem is the legislation that regulates the relationship between the planter and the mill.. Because of that, the mills have no incentive to invest capital to improve the efficiency of their mill,” he said.

Millers extract syrup from cane, producing raw sugar crystals for refining.

With more capital, Mr. Dominguez said the mills can upgrade their technology and raise yields.

“When you put in capital expenditure, you only are able to recover 30-40% of the revenue of the mill because the balance goes to the sugar planter. Why should they put 100% of the capital expenditure and only reap 30-40% of that,” he said.

He said that the sugar shortages and high domestic prices should be addressed immediately as the population grows and other producers become more competitive.

“If you look worldwide, the mills and the farmers do not share. The mill buys the cane. So if they own the whole cane then they can extract, they have every incentive to extract the most amount of sugar so I don’t really know what will come out but the current system has to be changed,” he said.

The DoF formally proposed to lift the quantitative restrictions on sugar imports in a process likened to the liberalization of rice imports, a prospect that led the politically well-connected sugar industry to mobilize opposition.

“We will respect the desire of the Senate to discuss this at length and I think it’s the right move,” he said.

In an economic bulletin, the DoF said that quantitative restrictions on sugar imports need to be replaced with tariffs in order to make prices more competitive for the food industry competitive prices.

A month later, the recommendation was opposed by the legislators after the Senate unanimously passed a resolution claiming that liberalizing imports will not make the industry.

Mr. Zubiri has said that instead of opening up the market to cheaper sugar imports, the economic team should instead focus on the full implementation of the Republic Act. No. 10659 or the Sugar Industry Development Act (SIDA) of 2015.

A component of the law is a productivity enhancement programs, infrastructure support such as farm-to-mill roads, research programs as well as financial support to small farmers.

“We will discuss it with them but I said we’re not only going to be talking about liberalization (but) also about improving the efficiency of the mills, how to incentivize that. Of course on the cane production side, it’s a long discussion,” Mr. Dominguez said. — Beatrice M. Laforga

Isuzu launches Traviz light-duty truck

Text and photos by Ulysses Ang

ISUZU PHILIPPINES CORPORATION recently launched a “last-mile” transportation solution with its all-new Traviz light-duty truck. Based on the D-Max pickup platform, the Traviz boasts of durability, big cargo capacity, a fuel-efficient powertrain, and modern design.

Named after a combination of “Transport, Trading, Transcend” and “Business,” the new Traviz is available in two wheelbase configurations: the short-wheelbase Traviz S and the long-wheelbase Traviz L. While both versions have a 1.6-ton payload capacity, the long wheelbase version can readily accept a 10-foot-long body.

“The all-new Isuzu Traviz continues our tradition of providing not just reliable products, but business solutions — reasons why, in the Philippines, Isuzu has been at the number one spot in the truck segment for more than 19 years,” says Isuzu Philippines President Hajime Koso. “The Traviz answers the most pressing and current customer needs, based on detailed market survey and IPC’s extensive on-the-ground experience,” he adds.

Powering the Traviz is a Euro 4 version of the 4JA1. This 2.5-liter common-rail direct-injection engine makes 78 horsepower at 3,900rpm and 176Nm of torque at 1,800rpm. Mated to Isuzu’s MUA-5S 5-speed manual, the Traviz does up to 23.4 km/L based on a test conducted with the Automobile Association of the Philippines or AAP.

Boasting a 4.5-meter turning radius, the Traviz is made to negotiate tight urban confines, yet it has the largest cabin in its class for the maximum comfort of its three occupants. Power steering is standard equipment as is a Deceleration Sensing Proportioning Valve or DSPV to help keep it stable even during heavy braking.

For comfort and convenience, the Traviz comes with a four-way adjustable driver seat for the driver, and a standard built-in tuner/USB sound system with two speakers. A reverse warning buzzer is standard, while air-conditioning is optional.

The Traviz will also form the basis of Isuzu’s entry into the Class 1 Modern PUV, completing the car maker’s triumvirate of offerings in the government’s PUV Modernization program. More details about this version will be announced at a later time.

The pricing for the Traviz starts at P962,000 for the short-wheelbase version and P992,000 for the long-wheelbase version. These prices reflect the cab & chassis configuration only. Made in Isuzu’s assembly plant in Indonesia (where it enjoys a 46% market share), it comes with a standard 3-year/100,000-km warranty.

Villar’s VLL breaks ground for first COHO project in Davao

DAVAO CITY — Vista Land & Lifescapes, Inc. (VLL) broke ground on Saturday for The Terraces, the first of four Camella Condominium Homes (COHO) projects in Davao City.

COHO is the new medium-rise condominium brand of the Villar-owned VLL. A COHO project would include amenities such as a co-working space in a coffee shop, a one-stop home improvement store, and an entertainment room with a cinema.

“We are already done with the clearing and by January next year we will be in full blast when it comes to construction. The construction with mid-rise is quick… and our timeline for the completion of one building is usually three years, unlike when it comes to high-rise, it will take five years of construction for one building,” Carlo V. Refamonte, COHO Mindanao operations head, said in an interview during the ceremony.

The first building of The Terraces, located in a 1.6 hectare property in Barangay Ma-a, will have 15 floors.

Mr. Refamonte said they have allotted a frontage of about 400-500 square meters (sq.m.) for future commercial development.

“We allotted commercial space as well in the frontage facing the Ma-a road,” he said.

The COHO units, at 30 sq.m. for one bedroom, 40 sq.m. two bedrooms, will have a price range starting at P3 million.

The three other COHO projects planned in the city are: The Acropolis in Lanang; The Frontera in Tigatto, Buhangin; and The Evora in Communal, Buhangin, which is five minutes away from the Davao International Airport.

Mr. Refamonte said the recent earthquakes in parts of Mindanao, including Davao City, prompted a review of geographical and structural design considerations to ensure the safety of their buildings.

VLL’s existing projects in Davao City include the Camella Northpoint condominium complex and the Camella Cerritos, a horizontal development in Mintal. — Maya M. Padillo

Poultry industry maintains 2019 growth target

AN ASSOCIATION of poultry farmers has maintained its 2019 growth target at 5-10%, with prices rising due to a shift to chicken consumption prompted by the African Swine Fever (ASF) outbreak in the Luzon hog population.

United Broilers and Raisers Association (UBRA) President Elias Jose M. Inciong said in a phone interview that the main constraint is obtaining financing, which will determine the extent of any farmer’s expansion.

“Historically, the expansion potential is 5% to 10% depending on financing capability… Small and medium-sized players, because of limitations in financing, can achieve a maximum of 5%.”

According to the Philippine Statistics Authority (PSA), the chicken industry accounted for 14.72% of the total value of agriculture output, equivalent to P25.941 billion, in the third quarter.

In the third quarter of 2017 and 2018, the industry accounted for 13.27% and 13.96%, respectively.

Volume of production grew 8.48% to 465,150 metric tons (MT) during the third quarter of 2019.

The PSA noted that increased production was brought by increased demand as consumers shift from pork to chicken due to the ASF outbreak.

“There is an improvement in the price because of the shift in demand and also there is a increase in the volume of chicken… and that would account for the growth,” Mr. Inciong said.

However, he warned raisers to be cautious in expanding production since the shift in demand may later be reversed. A chicken glut is possible if high prices attract excessive expansion.

“My concern is because farmgate price of chicken is high… everybody will transfer to a (product) where prices are now high.. and there will be glut there,” he said.

“If there are new entrants who do not know what they are doing… and they will come in a major way, it will disrupt prices, prices will go down, because they think the broiler industry is a simple industry,” he added.

The average price of chicken has been above P100 per kilo as the ASF scare escalated in September. Based on the weekly price monitoring of UBRA, as of Nov. 8 the average price of regular-sized chicken was P111.50 per kilo, down 0.44%, week-on-week. The price of prime-sized chicken was P112.21 per kilo, down 0.7%, week-on-week.

He also warned of increased chicken imports because of government inflation-control policy that encourages keeping prices low.

“The government has decided that importation is a priority (over) production and therefore we expect because of this increase in prices, we expect the government to again help importers, supposedly to help the consumers,” he said.

According to the Bureau of Animal Industry (BAI), chicken meat imports rose 11.4% to 200.29 million kilos in the first eight months of the year. Imports peaked in January at 30.28 million kilos, followed by August, worth 28.58 million kilos. — Vincent Mariel P. Galang

Audi unveils feature-packed all-new Q3 SUV

By Kap Maceda Aguila

AUDI PHILIPPINES last week locally debuted the all-new iteration of the Q3, the Ingolstadt, Germany-based automaker’s compact luxury crossover. First released in 2011, the Q3 is considered an “all-around SUV that (now) marks a step forward with its spaciousness, versatility, and technology.”

Unveiled at the Power Plant Mall in Makati City, the all-new Q3 “appears not only visually more confident, but is also roomier and more versatile. It has great all-around talents,” said Audi Philippines Head Benedicto Coyiuto in a release. “The all-new Q3’s introduction definitely strengthens our position in the country’s luxury SUV segment. We are quite excited to have this model in our lineup.”

Meanwhile, Audi Philippines Sales Manager and Product Specialist Paolo Brambilla said in an exclusive interview with Velocity that the Q3 has “a lot of current features coming from the Audi Q8 and A8. The full digital cluster is also incorporated in these units. This car is much bigger all over.”

Stretching 4,484 millimeters long, the SUV is 96mm longer than its predecessor. It is also 18mm wider (at 1,849mm, the widest in its segment), and stands shorter by five millimeters (at 1,585mm). Owing to an extended wheelbase (by 77mm to 2,680mm), the Q3 also offers more generous interior space.

Under the hood is a 1.4-liter, inline-four, turbocharged gasoline engine good for 150hp and 250Nm. Drivers can access the performance through a seven-speed, S-tronic dual-clutch transmission. Audi says the Q3 can reach 100kph from standstill in 8.7 seconds — all the way to a top rate of 220kph.

“The all-new Q3’s array of safety features and driver assistance systems include Electronic Stability Control, Electromechanical Power Steering, Hold Assist, Hill Descent Control, Park Assist with Parking Aid Plus, and a rearview camera,” reported Audi Philippines, and makes mention of a “five-star rating in the Euro New Car Assessment Program (NCAP), one of the most important automobile safety tests in Europe. The model has succeeded in the following categories: adult occupant protection, child safety, passenger protection, and vulnerable road user protection.”

The new iteration of the Q3 has also scored a “Good” rating from the Insurance Institute for Highway Safety (IIHS) as a Top Safety Pick Plus in crashworthiness. This is the highest rating a vehicle can achieve in the testing.

In its cabin, the Q3 now reflects the feel of “Audi’s parent-class models as it also harmonizes with the digital operating concept.” Of particular interest is the Audi Virtual Cockpit and a 10.1-inch MMI touch display that is compatible with Android Auto and Apple CarPlay.

The MMI touch display “is almost imperceptible against the high-gloss black glass-look surround when it is in a deactivated state.” Its octagonal shape, meanwhile, reflects the motif of the Singleframe grille, and is bordered by a wide chrome strip. Audi says the driver “can call up to two different views on the screen, including a ‘dynamic’ screen where the engine and road speed can be seen in square instruments which have red graphical elements.”

Even the luggage compartment grows to a larger total capacity of 1,525 liters with the backrests folded. With these up, capacity is at 675 liters. The Q3’s electric tailgate can open and close with a kicking motion underneath the rear bumper, as long as the key fob is with the user.

“For now, we’re featuring the 1.4 TFSI variant, but next year we plan to bring in the S lines and the RSQ3 variant,” revealed Mr. Brambilla, who added that Q3 units are directly imported from Germany where they are made.

From Beverly Hills to Manila: Anastasia’s is here

THE PRODUCTS of the brow salon to the stars, Anastasia Beverly Hills, now has a physical counter in Manila in Rustan’s Makati.

The products have already been seen in some of Manila’s purses because the brand has been available for years online, especially through online platforms Lazada and Sephora.ph. The brand is best known for its line of eyebrow products, namely the Brow Wiz, the Dipbrow Pomade, and several lines of eyeshadows, contour kits, and highlighters.

The company was founded in 1997 by Romanian-American businesswoman Anastasia Soare. Her clients have included celebrities such as supermodels Naomi Campbell and Cindy Crawford, and Queen of Talk Oprah Winfrey. Lest one might imagine that Ms. Soare’s influence ends with icons of the 1990s, the Kardashian sisters, arguably some of the best known women of this decade (and probably the next) are also clients. Ms. Soare, according to an estimate by Forbes magazine, has a net worth of about $1 billion, so you can proudly say that, yes, eyebrows are a worthy investment.

As we’ve mentioned above, the products are alerady accessible through online platforms. Nadean Barbers, Brand Manager for Anastasia Beverly Hills in the Philippines, said, however, “Now that we have the counter, they can actually try first before buying. That was their problem before.”

Counting the ways why a physical outlet is still best when it comes to makeup (at least for this brand) she said, “It’s best to try the texture first. It’s hard to get the right shade when you’re shopping online.”

An added experience is that the brand’s makeup artists can point one to the correct shade one needs and the best shape to go for. One can even take the experience home with, of course, the makeup, but also a line of stencils to shape your brows, the Beverly Hills Way (the High Arch shape is Oprah’s signature).

“I start with brows first before doing anything else. It shapes your face,” said Ms. Barbers. — Joseph L. Garcia

ICTSI stocks drop on lower-than-expected third-quarter earnings

RAZON-LED International Container Terminal Services, Inc. (ICTSI) was among the most traded stocks last week as investors reacted to the company’s third-quarter earnings that fell below expectations.

A total of P639.8-million worth of 5.21 million ICTSI shares exchanged hands from Nov. 11-15, making it the 12th most traded issue in the local bourse, the Philippine Stock Exchange data showed.

The stock was lower by 1.29% on a week-on-week basis to P122.2 per share last Friday from P123.8 per share. Year to date, the stock has risen by 22.8%.

“ICTSI was sold down on the day of its earnings release, which shows that some investors were disappointed with the company’s financial performance for the third quarter,” said RCBC Securities, Inc. Equity Analyst Jessica S. Pineda in an e-mail.

Ms. Pineda noted that the stock’s price drop that day “may have been seen as a bargain by traders to enter.”

In a separate e-mail, Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said that the stock was adversely affected by the past week’s “overall market sentiment” that was clouded by uncertainties surrounding the US-China trade negotiations.

“Investors worried that the talks may get derailed, which could consequently lead to a further escalation of the trade war and global economic slowdown. This, in turn, would drag the market in general, and ICTSI in particular given that the said company’s nature of business is greatly exposed to global trade,” Mr. Tantiangco said.

On the day the company’s earnings report was disclosed, the stock’s share price went as low as P122 per share from its opening price of P126 per share before closing at P123.9 per share. Bargain hunters took positions the day after, sending the stock’s closing price up slightly to P124 per share.

ICTSI reported a 7% increase in net income attributable to equity holders in the third quarter to $56.4 million amid a three-percent growth in revenues from port operations. This brought the nine-month bottom line to $184.9 million, which was 29% higher than a year ago.

The company attributed the profit growth to several factors such as the “strong operating income contribution” from the terminals in the Democratic Republic of Congo, Iraq, Mexico, and Manila and Subic in the Philippines; “new contracts with shipping lines and services” at the Victoria International Container Terminal in Melbourne, Australia; the “continuing ramp-up” at the new terminals in Papua New Guinea; and a “decline in equity in net loss” at Sociedad Puerto Industrial Aguadulce S.A., which is ICTSI’s joint venture terminal project with PSA International Pte. Ltd. in Buenaventura, Colombia.

However, ICTSI noted that the growth was tempered by the “acceleration of debt issue costs” associated with the partial prepayment of Euro-denominated term loan in July as well as the “non-recurring gain” from the “interest rate swap related to the prepayment of the project finance loan at its terminal operations in Manzanillo, Mexico in 2018.”

The company said that excluding these one-off items, its bottom line during the January to September period would have grown by 34%.

Given the company’s year-to-date net income of $184.9 million, Ms. Pineda forecast ICTSI’s full-year 2019 attributable net income to reach $226.4 million, which is around two-percent higher than last year’s $221.5 million.

“The conservative forecast is due to the expectation that ICTSI’s revenues will be dragged by high levels of costs, especially in terms of manpower brought by rate adjustments and depreciation and amortization brought by their expansion projects,” she said.

Ms. Pineda placed the stock’s support and resistance levels at P115 and P125, respectively.

“This is due to the tight consolidation of the stock in that area since the beginning of October,” she said.

For Philstocks’ Mr. Tantiangco, support is set at P120 while its resistance is set from P136-137.50.

“The robust earnings are expected to be driven by strong port operations especially now that we’re in the fourth quarter, which is usually the highest in terms of global trade in a year. At the same time, ICTSI has the new contracts with shipping lines and services at its terminals in Australia, Poland, Croatia, and Mexico, as well as the upgrades in its terminal in Papua New Guinea, all of which have already given a big boost to the port operator’s 2019 performance,” he said. — Edwin C. Aruta, Jr.

Japan training BARMM farmers to grow tea, buckwheat for export

JAPAN has been identified as a potential market for tea and buckwheat produced in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), Development Bank of the Philippines (DBP) President Emmanuel G. Herbosa said.

In an interview last week, Mr. Herbosa told BusinessWorld that once the Office of the Presidential Adviser on the Peace Process (OPAPP) “stabilizes” the situation, BARMM farmers and rebel returnees will be taught to plant export-ready crops through farming organizations.

Japanese investors are “working out the arrangements” and are currently conducting pilot projects to share technology for growing buckwheat and tea, he said.

“We are already in touch with the farming organizations to go and help all the Muslim farmers, many of them are rebel returnees. Then the Japanese now, through technology transfer, can teach them again how to plant buckwheat for Soba (noodles) and this is practically export-oriented,” he said.

He added that Kyushu, the southernmost Japanese main island, has a market “that is very interested in tea.”

“The Japanese… have a pilot projects right now. Kyushu is very interested in tea (growing) and coffee. The other possible crop is buckwheat for Soba. All we have to do now is get those farms off the ground and that’s (an initiative) that DBP will sustain,” he said.

He said DBP will come in with financing one the farms and the region’s political climate have stabilized.

He said other initiatives will seek to ensure food security across the region, expand economic inclusion and help rebel returnees to be “peaceful, productive and prosperous farmers.”

He also said that if negotiations proceed as planned, there will be “no middleman” as the products will be sold directly to Japan. — Beatrice M. Laforga

Rates on T-bills likely to move sideways

TREASURY bills (T-bill) on offer today will likely trade sideways following the central bank’s move to keep benchmark interest rates unchanged.

The Bureau of the Treasury (BTr) is looking to raise P20 billion via its T-bill offering on Monday, broken down into P8 billion in three-month papers, P6 billion in six-month securities, and another P6 billion in one-year notes.

A bond trader said the debt papers may trade sideways or inch up by around five basis points (bps).

Last Nov. 4, the Treasury made a partial award of the bills, raising only P9.8 billion out of the P20 billion program.

It rejected all bids for the 91-day papers even as it attracted P8.82 billion worth of investments. Had the Treasury made a full award of the papers, they would have fetched an average rate of 3.281%.

For the 182-day T-bills, the government raised just P3.8 billion out of total bids of P9.85 billion, as the securities fetched an average rate of 3.198%.

As for the one-year securities, the BTr awarded P6 billion as planned at an average rate of 3.513%.

In a phone message on Sunday, Robinsons Bank Corp. peso debt trader Kevin S. Palma said that after the Bangko Sentral ng Pilipinas (BSP) kept its monetary policy steady as widely expected, the market is now awaiting further news on the US-China trade talks.

“After the BSP kept its policy rates unchanged last week as expected, investors are currently on wait and see mode amid growing optimism about a US and China trade agreement,” Mr. Palma said.

On Thursday, the BSP Monetary Board decided to keep the benchmark interest rates for overnight reverse repurchase, as well as overnight deposit and lending at four percent, 3.5% and 4.5%, respectively. The regulator explained that the current rates are “appropriate” amid the weakening global economy, while sustained household spending acts as a cushion against external headwinds at home.

The move was widely expected after BSP Governor Benjamin E. Diokno hinted in separate television interviews that the central bank is “likely done” with rate cuts for the year.

So far this year, the BSP has cut rates by a total of 75 bps, partially dialling back the 175-bp hike it fired off last year in the face of successive multi-year-high inflation rates.

Reuters reported said that representatives from China and the United States made “constructive talks” on the first round of trade agreement over high-level phone call. The two representatives were China’s Vice Premier Liu He, U.S. trade representative Robert Lighthizer and Treasury Secretary Steven Mnuchin.

The two largest economies have been working on negotiations in an attempt to end the prolonged trade war. However, there are no clear details on the possible timeline of the deal yet.

Back home, Mr. Palma said that the auction should be met with strong demand as the bond maturities this week will flood the system with liquidity.

“Reinvestment requirements from a jumbo-bond maturity this week coupled with excess liquidity from RRR (reserve requirement ratio) cuts should keep the demand afloat for this auction,” he added.

The Treasury has set a P220 billion borrowing program this quarter for the local market, broken down into P100 billion in T-bills and P120 billion via Treasury bonds.

The government is planning to raise 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 gross domestic product. — Beatrice M. Laforga with report from Reuters

Nissan’s ‘Big 3’ LCVs conquer ‘land of mystery’

Text and photos by Aries B. Espinosa

NISSAN PHILIPPINES, INC. (NPI) has made the #GoAnywhere statement stick to its big three LCVs (light commercial vehicles): the Terra midsize SUV, the Navara pickup, and the Patrol SUV.

To prove its point, NPI planned out a three-day ride-and-drive of its three vehicles on an unlikely location — Siquijor Island — last Oct. 7 to 9. But, it also made a lot of sense. Siquijor, an island-province in Central Visayas with a land area of a mere 327 square kilometers, making it the third smallest province in the country, is predominantly hilly, its road network narrow. In many places, the road clung precipitously on cliffs between the mountains and the sea, offering majestic vistas. In short, Siquijor presented a valid challenge to Nissan’s #GoAnywhere battle cry.

NPI President and Managing Director Atsushi Najima said, “In line with our vision of enabling adventurers to reach their dream destinations, we are now in Siquijor Island, to conquer the country’s third smallest province with Nissan’s strong LCV lineup. We are creating the ultimate ‘Go Anywhere’ experience with the Nissan Patrol, Nissan Terra and Nissan Navara, by exploring the best and most diverse locations across the country.”

There is more to Siquijor than meets the eye, however. The island-province has cemented its place in local lore as an “island of mystery,” where all the Pinoy creatures of myth and legend and the mystic traditions converge.

That should have given us the creeps. But upon setting foot (and tires) on the island, we felt nothing but good vibes, saw nothing but welcoming smiles, and incredible tourist spots. It would seem that the locals have taken the superstitious beliefs associated to Siquijor all in good humor, seeing that mysticism and the supernatural have also somehow increased tourism to the province, and spooking people out can turn in quite a profit. Some roadside stores here openly sell voodoo dolls and potions. One interesting roadside stop makes visitors pose riding on a broomstick.

Despite Siquijor being one of the country’s smallest island-provinces, three days of driving in the island still wasn’t enough to cover all of its attractions. We were able to visit the 400-year-old Balete tree and the fish spa at the foot of it, as well as the Hapitanan Cafe and Restaurant for that “broomstick ride” photo-op. Another stop was the Lazi Convent and Church, opened in 1884 and has been declared a National Cultural Treasure by the National Museum. And then we trekked down to the multi-tiered Cambugahay Falls. The 135-steep steps led us to the falls, as well as to the happy shrieks of kids (and adults) who tried out the swing into the cold water.

There were a lot more places in Siquijor to visit, such as the pristine beaches, cliff diving spots, caves and waterfalls. But that would have to wait until our next visit.

These three days were the time the Terra, Navara and Patrol would showcase their ride and drive capabilities on the island’s narrow roadways. Siquijor’s road networks were originally designed for motorbikes, trikes, multicabs and small 6-seater jeepneys, but that was no problem at all for the agile LCVs. Nissan Intelligent Mobility’s signature Around View Monitor (AVM) were also useful in this regard. The AVM helps drivers park or navigate more easily by making them actually see their vehicle’s immediate surroundings through a virtual 360-degree bird’s-eye view from above the vehicle. The AVM helps the driver visually confirm the vehicle’s position relative to the lines around parking spaces and adjacent objects, allowing the driver to maneuver in and out of tight spots with more ease.

NPI said that because of Siquijor’s reputation as one of the most challenging islands to access in the Philippines, it became the perfect getaway for a #GoAnywhere ride-and-drive event and showcase the capabilities of all three vehicles. With its strong LCV heritage and Nissan Intelligent Mobility features, the Terra, Navara, and Patrol navigated their way easily, making the drivers and passengers focus more on enjoying what Siquijor had to offer.

The 2020 Terra’s new Nissan Connect Renault-Nissan AIVI was also highlighted in this drive. It now has a bigger, 8-inch monitor compared to the old 7-inch AV system, and the rear monitor integration at the back passenger rows can play videos via HDMI while the driver can still use his or her navigation guides up front. Offline maps are also available for the 4WD Terra VL.

Feliz Hotel Boracay: #StayHappy

TOURISTS, be they local or foreign, who have not been to the island of Boracay since it reopened in October last year are in for a pleasant treat with the vast improvements made in the place, enhanced by new establishments catering to the more serene vibe the area now exudes.

One such place is Feliz Hotel Boracay, an 80-room boutique hotel located at the heart of Station 2 and whose thrust is to give guests a “happy stay,” taking cue from the word feliz, “happy” in Spanish, anchored on upscale amenities and quality service with the iconic island as backdrop.

Officially opened in July this year, Feliz Hotel Boracay, part of the FJE Group of Companies and managed by Enderun Hotels, boasts of laid-back Latin American energy combined with the tropical charms of the Philippines.

Hotel officials said they were scheduled to open in 2018 but because of the six-month closure of the island — from April 26 to Oct. 26 last year — as ordered by President Rodrigo R. Duterte to rehabilitate the island and allow it to “heal,” Feliz’ opening was moved to a later date.

But they said it was a deferment they put into good use as they made sure that Feliz Hotel Boracay was up to the standards it was envisioned to have and in line with the programs of island authorities moving forward.

“We are really excited about Feliz Hotel Boracay. It is truly a great addition to the new Boracay island experience where it offers the perfect balance between fun and relaxation. We aim to redefine the travel experience through topnotch amenities and impeccable service with the iconic Boracay as its backdrop,” said Feliz Hotel Boracay General Manager Jun Delos Santos as he described what the new hotel is angling to offer.

He noted that the hotel is strategically located in the middle of the island scene at the D’Mall District in Station 2, just a few steps from the beach and close to a variety of entertainment, shopping, and dining options, allowing guests to have a myriad of activities to check out and experience.

A CUT ABOVE THE REST
Feliz Hotel Boracay is touted as one of the more upscale properties in the area.

Upon arrival, guests are greeted by a spacious plaza in front of the hotel, whose fountain has become a landmark in Station 2 and a go-to place for photos for locals and tourists alike.

Entering the hotel is an experience as one has to pass through 18-foot doors — the tallest in the country (still to be verified) staff said — that lead to the lobby.

Once inside, the Latin American inspiration is very much evident in the interior design of the lobby and hallways leading to the rooms in all floors.

Feliz Hotel Boracay has six room categories, namely, Premier King, Deluxe King, Deluxe Double, Premier Double, Suite, and Feliz Suite, ranging from 27- to 46-square meter studios to 52- to 72-square meter suites.

Officials said all the rooms were designed to provide a calm and luxurious sanctuary for guests looking for total relaxation and rest.

The rooms have spacious bathrooms with some having bath tubs depending on the type of room; couches, TV sets, closets, and tables and chairs for those who want to squeeze in some work while on vacation. Air-conditioning provides ample cooling which can easily be adjusted, while the hotel’s internet connection is strong.

Sustainability is something the hotel is also mindful of, thus in lieu of complimentary water in plastic bottles, every room it has refillable glass bottles. A digital tablet where pertinent hotel local numbers and menu, among others, can be found is provided instead of a printed menu of services.

Other hotel amenities include rooftop swimming pools for kids and adults, a fitness center and recreation area, as well as services like in-room spa treatments.

DINING OPTIONS
Feliz Hotel Boracay has two in-house restaurants — La Plaza and Buenavista.

La Plaza is an all-day dining place where one can enjoy the finest meat, seafood, and produce, while Buenavista is a rooftop bar that offers a majestic view of the island.

Cuisine in both restaurants is overseen by Executive Chef Onie Castillo, who sharpened his chops in various restaurants and resorts both here and abroad.

Mr. Castillo said that the hotel makes sure to use the freshest and authentic ingredients for their dishes.

At La Plaza, the cuisine is mostly Latin American, highlighted by a selection of its signature paella, which the executive chef said uses authentic arroz bomba.

Another must-try item at La Plaza, which takes its name from the hotel plaza outside, is the churros which have a light texture and partner well with the chocolate and caramel dips that go with it.

Mr. Castillo added that at La Plaza, they can also adjust to the preference of the diners.

Buenavista, meanwhile, serves dishes like pizzas, sandwiches, and pastas as well as classic and original cocktails.

“Feliz Hotel Boracay is the ideal hotel for island adventures as the hotel offers a unique blend of convenience and modern sophistication,” Mr. Delos Santos reiterated.

“We also take pride in our team of dedicated professionals grounded in thoughtful and genuine service to make you feel at home, all done with the brightest smiles in Boracay,” he added.

To know more about Feliz Hotel Boracay accommodations, reservations, and facilities, visit www.felizhotelboracay.com. — Michael Angelo S. Murillo

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