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Philippine edge erodes in annual survey

AFTER figuring as one of the most-improved economies last year, the Philippines fell eight notches to 64th out of 141 economies in the World Economic Forum’s Global Competitiveness Report 2019, the Makati Business Club (MBC) said in a press release on Tuesday.

Global competitiveness index 2019 ranking

The MBC is the forum’s Philippine partner for the 2019 Executive Opinion Survey conducted March 15-April 30 which is a key component of the yearly report.

The country also slid to sixth place from fifth among the nine Southeast Asian countries covered.

According to the report, each country’s score is based on 12 “pillars of competitiveness,” namely: institutions, infrastructure, ICT adoption, macroeconomic stability, health, skills, product market, labor market, financial system, market size, business dynamism and innovation capability.

The MBC said in its statement that this drop was a result of the Philippines’ overall score falling to 61.9 from 62.1 last year.

“In the global ranking, Singapore took the top spot this year, with an overall competitiveness score of 84.8, outranking last year’s top performer, the United States,” MBC said.

For American Chamber of Commerce of the Philippines Senior Adviser John D. Forbes, “these results show that the country’s competition never sleeps.”

“The Philippines will need to move faster to reverse the downturn and return to an upward trend,” he said. “We suggest the NEDA (National Economic and Development Authority) and DTI (Department of Trade and Industry) identify several key short-term strategies to improve next year’s rankings.”

INDICATORS
The country’s biggest drops this year were in the fields of ICT adoption and macroeconomic stability.

In terms of ICT adoption, the Philippines dropped 21 spots to 88th globally from 67th, with its score dropping to 49.7 from 54.8.

In terms of macroeconomic stability, the country’s rank fell to 55th from 43rd despite maintaining a score of 90. MBC noted that this pillar includes inflation rate, which has nevertheless been dropping to within the central bank’s 2-4% target from 2018’s successive multi-year highs. In terms of inflation, the Philippines placed third in Southeast Asia.

The Philippines was also the least competitive in terms of health, in which it placed 102nd as life expectancy slipped to 65.6 years from 67.6 years in 2018.

The country’s highest rankings among the 12 pillars were in market size (31st), labor market (39th), financial system (43rd), business dynamism (44th), and product market (52nd).

In terms of specific indicators, the country’s best rankings were in internal labour mobility (7th), insolvency regulatory framework (9th), diversity of workforce (9th) and companies embracing disruptive ideas (10th).

“We would like to stress the need to foster investments in human capital and matching the benefits of innovation with talent development and a well-functioning labor market,” MBC Chairman Edgar O. Chua said in the statement.

“Innovation in education is key. We should use technology in classrooms and in training grounds. Furthermore, upskilling of workers will help us meet the changing demands of industries.”

Socioeconomic Planning Secretary Ernesto M. Pernia said that the country’s competitiveness can improve with better information and communications technology infrastructure.

“This ranking is comparative, so countries that are better in terms of communications technological advancement would rank higher,” he said by phone.

“We need to adopt the latest advancements in communication technology. DICT (Department of Information and Communications Technology) needs to exert more effort in improving our infrastructure in communications technology and software.”

The European Chamber of Commerce of the Philippines (ECCP) President Nabil Francis recommended policies to improve the Philippine ranking.

“While the Philippines has made great strides, its regional peers have improved by leaps and bounds in terms of creating a more conducive business environment. Moving forward, it is crucial to put in place sound economic policies that will further boost the investor confidence of European businesses,” Mr. Francis said when sought for comment.

“The ECCP believes that reforms such as the amendments to the Public Services Act and the Open Access Bill are crucial to improve the ICT landscape. Lastly, the chamber remains committed to working closely with the government to create a level playing field, foster competition and further improve the investment and business climate here in the Philippines.”

The proposed Open Access in Data Transmission act now awaiting legislative approval aims to improve data transmission services through the sharing of infrastructure among service providers, while the Public Services Act amendment aims to open the telecommunications and transport sectors to foreign investors. — with Beatrice M. Laforga

Meralco bills rising after 5 straight months of decline

AFTER five straight months of power rate cuts, average households using 200 kilowatt-hours (kWH) will see their total electricity bill this month to increase by around P9 after Manila Electric Co. (Meralco) announced a rise in the overall energy generation charge.

In a statement on Tuesday, the distribution utility said the electricity rate in October will be higher by P0.0448 per kWh to P9.0862/kWh from P9.0414/kWh the preceding month.

Those using 300 kWh, 400 kWh and 500 kWh can expect their bills to go up by P13.44, P17.92 and P22.40, respectively.

“Even with the slight increase this month, following five straight months of decrease, there has been a total downward adjustment of electricity rates amounting to almost P1.47 per kWh since April 2019,” the company said.

Meralco said the generation charge for October moved up by P0.0215/kWh to P4.5406/kWh from P4.5191/kWh because of the smaller net settlement surplus (NSS) refund during the month.

NSS is the remaining surplus or deficit after all market transactions have been accounted for. This accounts for price differences occurring between the power generator and customer locations or nodes because of losses and congestion. It is distributed to trading participants that are entitled to receive a share of the surplus or deficit in accordance with an Energy Regulatory Commission (ERC)-approved methodology.

For October, a smaller NSS refund was recorded by the Wholesale Electricity Spot Market (WESM), hence, the increase from the preceding month. In September, the power rate reduction was in part because of the NSS refund of around P684 million, bigger than the P381 million refund in October.

WESM charges also decreased by P0.5290/kWh after the power supply situation in the Luzon grid improved, with fewer power plants reporting outages. These charges also included the second installment of the NSS refund, as directed by the ERC in an Aug. 1 order.

Meanwhile, the transmission charge for households slightly increased by P0.0249/kWh as a result of higher ancillary service charges.

Taxes and other charges decreased by P0.0016/kWh.

Meralco said its distribution, supply and metering charges had been unchanged for 51 months, after these registered reductions in July 2015. It reiterated that it does not earn from the pass-through charges, including the generation and transmission charges.

Payment for the generation charge goes to the power suppliers, while payment for the transmission charge goes to the system operator National Grid Corporation of the Philippines. Taxes and other public policy charges like the feed-in tariff allowance rate are remitted to the government.

Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has interest in BusinessWorld through the Philippine Star Group, which it controls. — Victor V. Saulon

BSP not closing doors on further RRR cuts

THE BANGKO SENTRAL ng Pilipinas (BSP) could still cut banks’ reserve requirement ratio (RRR) further towards December after a cumulative 300-basis-point reduction this year so far should relevant data warrant such move, BSP Governor Benjamin E. Diokno signaled on Tuesday.

Monetary authorities, however, are likely done for 2019 with cuts in benchmark interest rates that have totaled 75 bp, through 25bp equal cuts on May 9, Aug. 8 and Sept. 26, he added.

Mr. Diokno told reporters on the sidelines of The Asset Philippine Forum in Taguig City that the central bank is waiting for relevant economic data to be released in the coming months.

Ask whether the central bank is done with easing the RRR in 2019, he said: “Sabi ko nga (As I’ve said), we’re looking at the data, kung pwede pa, bakit hindi? (If it’s still possible, why not) We’re looking at October [data]. September lang ’yung lumabas e (Only September data have been released).”

Among others, monetary authorities are watching if RRR cuts totaling 200 bp in 2018 and 300 bp so far this year have fueled lending to economic activities. The central bank reported at the start of this month that money growth eased in August despite continued demand for credit.

Domestic liquidity or M3, the broadest measure of money supply in an economy, grew 6.2% year-on-year to P11.9 trillion, slowing from the 6.7% growth logged in July. Month-on-month, money supply inched up by 0.3%.

Outstanding loans of universal and commercial banks grew 10.5% year-on-year in August, slowing from July’s 11.1%.

The RRR for universal and commercial banks, thrift banks and rural banks are now at 15%, five percent and three percent, respectively.

Remaining macroeconomic data that may weigh on monetary policy decisions include October and November inflation on Nov. 5 and Dec. 5, respectively, and the third-quarter gross domestic product to be released on Nov. 7.

“So meron ka pang (you still have) third quarter di ba? Lalabas pa ’yung World Economic Outlook around October so marami pa kaming titignan. Hindi pa sarado (The World Economic Outlook will be released in October so we still have a lot of data to assess. We may not yet be done with RRR cuts for this year).”

The Monetary Board has two more policy meetings left for the year on Nov. 14 and December 12, although it can act on the RRR in any of its weekly meetings.

“Nasa 15[%] na tayo (We are already at 15% for big banks’ RRR)… So you can extrapolate, I have two years and a half [left as BSP governor].”

Mr. Diokno has vowed to reduce the RRR to single digit before his term ends in July 2023.

Asked whether any cuts for 2020 will be similar to the cumulative cuts amounting to 300 bps announced so far for the year, Mr. Diokno replied: “Pwede naman naming gawing 50 [bps]… per quarter (We can also opt to trim RRR by 50 bps per quarter)… depende lang nga sa (it depends on) inflation dynamics.”

Asked if there could be even more cuts in policy interest rates, he said: “‘Yun siguro papabayaan na muna natin. Sarado na muna ‘yun (Maybe let’s leave it at that. That will be it)…”

“I think everybody’s happy.” — Luz Wendy T. Noble

A spirited 5th generation entrepreneur

The Entrepreneur Of The Year Philippines 2019 has concluded its search for the country’s most successful and inspiring entrepreneurs. Entrepreneur Of The Year Philippines is a program of the SGV Foundation, Inc. with the participation of co-presenters Department of Trade and Industry, the Philippine Business for Social Progress, and the Philippine Stock Exchange. In the next few weeks, BusinessWorld will feature each of the finalists for the Entrepreneur Of The Year Philippines 2019.

Olivia Limpe-Aw
President and Chief Executive Officer
Destileria Limtuaco & Company, Inc.

OLIVIA LIMPE-AW was challenged to make her mark in the liquor industry after taking over the leadership of Destileria Limtuaco & Co. Inc. (DLCI).

Taking over a well-established company since 1852, she was under immense pressure to sustain her family’s legacy that had been managed through four generations. She was determined to prove her abilities as an entrepreneur by positively transforming DLCI’s culture and operations as well as establishing her own brands and ventures.

Ms. Limpe-Aw was introduced to the family business at young age. She thought of her father’s office as her playground and spent much of her childhood running around the plant. During summer vacations, she would run simple office errands and sit in board meetings, eventually learning to love the company.

As the first female head of DLCI, she admits that some would not associate the liquor business with women leaders but, as fate would have it, her father had seven daughters but no son. He naturally had to pass the business on to one of them.

“If I had a brother, I wouldn’t be talking to you today,” she said.

Of the seven sisters, only Ms. Limpe-Aw was interested in taking over the company after seeing how her father devoted his life to the business. She recalls, “I saw him deal with different problems in the company. I just wanted to help him and make his life a little easier.”

This interest led her to study Business Economics at the University of the Philippines-Diliman. After graduating, she went straight to work at DLCI as her father’s assistant before being assigned to the cashier department. She eventually rose through the ranks and became the executive vice-president of finance.

Her ultimate test as an entrepreneur came in 1989 when the company suffered a labor strike, shutting down its plants and offices for nearly six months. Sales declined and the company’s distribution network fell apart, causing it to lose most of its market share of White Castle Whiskey.

DLCI had to undergo two retrenchment programs and manage its low sales volume.

Although DLCI was at the brink of collapse, closing was not an option for the Limpe family.

Ms. Limpe-Aw recalls that her father was adamant that they never give up no matter how difficult things became. Inspired by her father’s commitment, she developed sustainable solutions to address the company’s situation.

To alleviate the company’s financial problems, she decided to try her hand at exporting and making use of their inventories of imported malt whiskey. She studied trade agreements, identified prime export opportunities, and revived their manufacturing bonded warehouse. Soon, the company started exporting to Taiwan and other Southeast Asian markets.

She also improved the company’s products by adopting the ISO 9001 quality management system. In 1998, DLCI became the first distillery plant in the Philippines to receive an ISO 9001 certification.

Aside from paralyzing operations, the strike also led to labor-management distrust. Realizing that the company would need to adapt, Ms. Limpe-Aw facilitated change management initiatives by introducing changes to DLCI’s culture, policies, processes, systems and procedures. She worked with labor unions to rebuild trust and improve labor-management relations, forming resolutions that balanced the interests of all her stakeholders.

She recalls, “I sat through collective bargaining agreements and labor hearings to show them that I am not afraid and that I am fair.”

Through this process, she also formed her personal employee management principle: I will not give to one what I cannot give to all.

Despite the numerous challenges she faced, Ms. Limpe-Aw looks at the silver lining of her experience, saying: “I’m not afraid of problems because they’re opportunities.”

“If I didn’t go through tough times, there would be nothing to learn and I wouldn’t be where I am today.”

Ms. Limpe-Aw’s foresight, principles and hard work paid off as she was able to slowly rebuild DLCI, referring to herself as “the turnaround CEO” when she assumed leadership in 2004.

Not one to rest on her laurels, Ms. Limpe-Aw continues to seek new ways to innovate and grow the company, while simultaneously promoting sustainable practices.

She developed her own line of craft spirits made with Philippine fruits sourced from local farmers, whom the company promotes in its advertising campaigns. Her product line includes Paradise Mango Rum Liqueur, Amadeo Coffee Liqueur, Manille Liqueur de Calamansi, Very Old Captain Artisan-crafted Dark Rum and Intramuros Liqueur de Cacao. These products have become staples at pasalubong centers, promoting Philippine-made products overseas.

This has also allowed DLCI to expand its operations to cosmetics. After extracting the essential oils of the calamansi and dalandan fruits, the company uses the by-products from this process as ingredients for soap.

Ms. Limpe-Aw said that her planned line of cosmetic products is all-natural and fruit-based, as part of a sustainable environmental approach.

Together with her sons, Ms. Limpe-Aw also launched Gaz, a ready-to-drink cocktail packaged in doypacks. Gaz is now exported to South Korea, where it is available in over 4,000 convenience stores.

In February 2018, she opened the Destileria Limtuaco Museum in Intramuros, which aims to preserve and showcase DLCI’s history and entrepreneurial legacy. It also features a scaled model of the company’s liquor making process to teach visitors about the liquor industry.

Driven by her desire to prove that she had what it takes to become an entrepreneur, Ms. Limpe-Aw has gone beyond developing DLCI and has ventured into projects in other industries.

In 2007, she tried her hand in publishing and established Asian Dragon, a bilingual (English-Chinese) business and lifestyle magazine that features the stories of various political personalities and entrepreneurs. In addition, she formed Sulu Food and Beverage Corp. which produces Sulu Originals mangosteen jam. The company will soon launch other products like coconut jam and sugar coconut nata vinegar made from organic coconut water. As part of an initiative to bring economic progress and peace to the region, the company established the first manufacturing facility in Sulu, sources its raw materials from the province and employs locals in its plant.

Aside from her current projects and ventures, Ms. Limpe-Aw assures her clients and customers that she has many products in the pipeline aimed for the mass market. She is confident that the company will grow even stronger after she retires because she has trained her sons to take over the business. “What my father did not finish, I continued. Likewise, what I cannot finish, my children will continue,” she said.

Her entrepreneurial journey is filled with tales of grit and resilience amid significant challenges, earning her several awards such as the Filipino Investors Society Big Boss of the Year Award, Priority Integration Sector Excellence Award, and the Go Negosyo Women Starpreneur Award.

Ms. Limpe-Aw has proven that established companies like DLCI can benefit from the younger generations. As an entrepreneur who has carried her family’s legacy into the future, she summarizes her advice to would-be entrepreneurs: “Today’s CEO cannot just be a professional CEO, but an open-minded entrepreneur as well because one must be able to think out of the box to successfully manage a business.”

The official airline of the Entrepreneur of the Year Philippines 2019 is Philippine Airlines. Media sponsors are BusinessWorld and the ABS-CBN News Channel. Banquet sponsors are Global Ferronickel Holdings, Inc., Jollibee, Udenna Corp. and Uratex.

The winners of the Entrepreneur Of The Year Philippines 2019 will be announced on Oct. 15 in an awards banquet at the Makati Shangri-La Hotel.

The Entrepreneur Of The Year Philippines will represent the country in the World Entrepreneur Of The Year 2020 in Monte Carlo, Monaco in June 2020.

The Entrepreneur Of The Year program is produced globally by Ernst & Young.

The revenge of Sweeney Todd

THE ABUSE of power may lead its victims to go to extremes when seeking revenge.

“If you were Sweeney, what are you going to do? Would you allow yourself to [pursue] just mere revenge [or] to something more?” asked Jett Pangan, who plays the ferocious barber in Atlantis Theatrical Entertainment Group’s staging of Sweeney Todd: The Demon Barber of Fleet Street which opens this weekend.

“It’s an examination of how far people can be pushed under certain circumstances,” Tony and Olivier Award winner Lea Salonga, who takes on the role of Mrs. Lovett, said of the story’s characters.

The Tony award-winning musical is the third and final Stephen Sondheim musical to be staged in Metro Manila this year. Written by Hugh Wheeler, the musical marks its 40th anniversary since it premiered on Broadway in 1979.

SONDHEIM’S MUSICAL
Set in London during the Industrial Revolution, the story follows ex-convict Benjamin Barker who returns from exile and takes the name Sweeney Todd. While settling in a barbershop above Mrs. Lovett’s bakery, he plots to take his revenge on Judge Turpin, who convicted him even though he was innocent, and reunite with his wife and daughter, Johanna.

“We have gathered quite the cast for this retelling of Stephen Sondheim’s classic musical thriller. I think we will be bringing to the stage a unique version of Sweeney Todd as told by some of the best musical theater storytellers in the country, led by Lea Salonga and Jett Pangan. I am also so excited to be collaborating with a creative team full of geniuses in their craft. I can’t wait to begin,” director Bobby Garcia was quoted as saying in a press release.

During last week’s press launch at the Theatre at Solaire in Pasay City, Ms. Salonga noted her openness to play darker roles. “The thing about being an actor is that you should be open to playing both the good and the bad… You can’t always play the nice guy,” Ms. Salonga said. “I’d like to think that audiences are intelligent enough to be able to separate who I am in real life from who I am onstage as a character.”

Mr. Pangan admitted that “nothing prepared him” for the musical. “Two words — Stephen Sondheim. I almost hate the guy. But he’s a genius, no doubt. And to put his music into our bodies and tell the story was indeed a challenge for me,” Mr. Pangan said.

“This musical is not easy,” he added, pointing out that he saw Repertory Philippines’ staging in 2009 starring Audie Gemora as Sweeney Todd.

“When I saw that show in Greenbelt, I saw how difficult it was… I said to myself, ‘I’ll never do this thing,’” Mr. Pangan said. “And here I am. I respect the material so much.”

For Nyoy Volante, who takes on the role of Sweeney’s competitor, the barber Adolfo Pirelli, there is more to the show than just plain shaving.

“In theater, you have to flare (the actions) up a bit,” Mr. Volante said. “You have to watch it. We have different techniques that goes beyond shaving.”

Joining Mr. Pangan, Ms. Salonga, and Mr. Volante in the cast are: Ima Castro as the Beggar Woman; Gerald Santos as Anthony Hope; Mikkie Bradshaw-Volante as Johanna; Luigi Quesada as Tobias; Arman Ferrer as Beadle; and Dean Rosen as Jonas Fogg. Completing the ensemble are Steven Conde, Sarah Facuri, Christine Flores, Jep Go, Kevin Guiman, and Emeline Celis Guinid.

The show’s musical director is Gerard Salonga who will be conducting the ABS-CBN Philharmonic Orchestra.

Andrew Fernando, who plays the role of Judge Turpin, noted that ignorance of consequences of one’s actions makes the musical relevant in today’s society.

“People nowadays have very little grasp of consequences,” Mr. Fernando said. “We see a lot of that in the world today. That because of one’s desire to get what he wants or what she wants, nobody is looking at the consequences.”

Despite its dark and heavy themes, Mr. Volante interjected, “It’s a very nice show, ha.”

Sweeney Todd runs from Oct. 11 to 27, at the Theatre at Solaire. Tickets are now available at www.ticketworld.com.ph or through 891-9999. — Michelle Anne P. Soliman

DPWH to acquire majority of CALAX right-of-way by yearend

THE Department of Public Works and Highways (DPWH) said it is on track to complete the Cavite-Laguna Expressway (CALAX) by 2022 with a target of delivering 70% right-of-way for the Cavite segment before the year ends.

DPWH Secretary Mark A. Villar said on Tuesday the government has already acquired 40% right-of-way for the 27.2-kilometer Cavite section of the toll road, and this is expected to move up to 70% in the fourth quarter of 2019.

“Majority na siguro ng right-of-way by the end of the year, siguro mga 70% [Majority of the right of way may likely be delivered by the end of the year, maybe around 70%],” he told reporters, referring to the Cavite segment of CALAX.

The DPWH and the project’s concessionaire MPCALA Holdings, Inc. conducted an inspection of the Laguna segment of CALAX on Tuesday. They determined that the first three sections from Mamplasan to Sta. Rosa will be ready to be opened by end-October.

“Target namin by the end of the month i-open namin itong 10-kilometer segment [Our target is to open by the end of the month this 10-kilometer segment],” Mr. Villar said, referring to a portion of the 18.1- kilometer Laguna segment of CALAX.

The DPWH expects about 10,000 cars benefitting from the three sections once it opens, easing congestion along Governor’s Drive, Aguinaldo Highway and Sta. Rosa-Tagaytay Road.

The whole 45.3-kilometer CALAX will connect the Manila-Cavite Expressway (CAVITEx) from Kawit, Cavite to the South Luzon Expressway (SLEx) at the Mamplasan Interchange in Biñan, Laguna.

The P35.43-billion project will have interchanges at Kawit, Imus Open Canal, Governor’s Drive, Aguinaldo Highway, Silang, Sta. Rosa-Tagaytay, Laguna Boulevard, Technopark and a toll barrier before SLEx.

Once operational by the second quarter of 2022, CALAX is seen to cut travel time between CAVITEx and SLEx to 45 minutes from the current 2.5 hours.

MPCALA Holdings is under Metro Pacific Tollways Corp., the tollways unit of Metro Pacific Investments Corp. (MPIC). MPIC is one of three key Philippine units of Hong-Kong based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT, Inc.

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

Nature through the eyes of Filipino and Chinese artists

BREATHTAKING landscapes and personal encounters in Palawan take focus on the Metropolitan Museum of Manila’s latest exhibit, In Harmony with Nature.

Done in partnership with the Bank of China and the Chinese Culture and Art Association Limited, the Metropolitan Museum of Manila launched the exhibit on Sept. 28 as part of its international arts and cultural exchange program for artists from China and the Philippines.

The project seeks “to cultivate fresh artistic encounters, current dialogues on environmental awareness, and enhanced understanding of cultural perspectives” and “cross-cultural linkages between China and the Philippines and the cultivation of new artistic encounters in respective unique locations,” a press release said.

Five artists were shortlisted for both countries. Participating artists from the Philippines are: painter, sculptor, and illustrator Manuel Baldemor; abstract painters Rico Lascano and Noberto Carating; painter Phyllis Zaballero; and watercolorist Jonahmar Salvosa; the Chinese artists are calligraphy artists and painters Kuku Chai Bukuk and Cai Zhixin; painter Ding Jie and Liu She; and printmaker Hao Ping.

“The Chinese artists were already chosen,” Metropolitan Museum of Manila president Tina Colayco told BusinessWorld about the shortlisting of Filpino artists, during the exchange program’s press launch in August.

“We just thought that we would do a match with artists who would have similar synergies,” she added, noting that all participating artists are established names in the art scene in their respective countries. For the Philippine leg of the exchange program, the 10 artists visited El Nido, Palawan in September to collect inspirations for their artworks.

Exhibit curator Desi Tolentino explained that Palawan has been “one of the ancient trade routes between the Philippines and China since the earlier centuries” prior to the colonization period.

The artworks include Manuel Baldemor’s landscapes (Early Birds) and marine life (Underwater World); Rico Lascano tranquil abstracts (Spatium Divinae); Norberto Carating’s bold colored abstracts painted with pumice gel, Tumauini #1; Jonahmar Salvosa’s cool-toned landscapes, Inherited Blessings, Dorocoy, My Island Happiness, and Bantilan, My Childhood Playground; Phyllis Zaballero’s nighttime landscape, Fireflies in the Iwahig River, and a bright beach painting, Crab; and Bukuk Chai’s Sea Turtle which shows a baby sea turtle with its tiny head above water.

After the exhibit walk-through, Ms. Tolentino told BusinessWorld that the activities aim to “create a more important dialogue on environmental awareness and ecological consciousness both in China and in the Philippines.”

The exhibition opening concluded with a live collaborative painting between the Filipino and Chinese artists. They created a seascape of Palawan with a shoreline and overlooking mountain ranges.

THE COUNTERPART EXHIBITION
After the exhibition in Manila, the 10 artists will go to Shenzhen, China on Oct. 20 to visit the city of Liling which is known for its traditional porcelain-making. They will take a tour to get inspiration for their paintings which will be shown in the upcoming counterpart exhibit in Art Wharf Gallery in Shenzhen, China on Oct. 26. A collaborative painting demonstration with the Chinese artists will also be held on the exhibition opening.

In Harmony with Nature is on view until Oct. 30 at the Bangko Sentral Gallery of the Metropolitan Museum of Manila, Roxas Blvd., Malate, Manila. Museum doors open at 10 a.m. to 5:30 p.m. from Monday through Saturdays; admission is free on Tuesdays. — Michelle Anne P. Soliman

LANDBANK asked to clarify details of PDS takeover

LAND BANK of the Philippines (LANDBANK) is moving closer to getting exemptive relief from the Securities and Exchange Commission (SEC) in line with its proposed acquisition of the Philippine Dealing System Holdings Corp. (PDSHC).

SEC Commissioner Ephyro Luis B. Amatong said they are currently reviewing LANDBANK’s application for exemptive relief which the state-run lender filed about two to three weeks ago.

“The application is under review, we already gave them a reply,” Mr. Amatong told reporters after the listing ceremony of Axelum Resources Corp. in Bonifacio Global City on Monday.

“We’re asking for clarity on the amendments to the fee structure, and then also they mentioned efforts to be more inclusive and fund agriculture, we want more detail on agricultural businesses (how they can) be more inclusive both to investors and to greater access to finance.”

LANDBANK needs to secure exemptive relief for the PDSHC acquisition since the Securities Regulation Code (SRC) states that no single group can own up to 20% of an exchange.

Item C of Section 33.2 of the SRC states that “no person may beneficially own or control, directly or indirectly, more than five percent (5%) of the voting rights of the Exchange and no industry or business group may beneficially own or control, directly or indirectly, more than twenty percent (20%) of the voting rights of the Exchange.”

However, the SRC also states that the commission may adopt rules, regulations, or issue an order defying the limit so long as “such ownership or control will not negatively impact on the exchange’s ability to effectively operate in the public interest.”

BusinessWorld sought Landbank’s comment on the matter but has yet to receive a reply as of press time.

Mr. Amatong did not answer when asked whether LANDBANK can get clearance within the year, but noted that discussions are “progressing.”

“Nagiging more focused na ’yung questions namin…Marami na silang substantive discussions sa application nila, kaya lumiliit ’yung requests namin for additional comments or clarity,” Mr. Amatong said.

LANDBANK said last July that it wants to acquire a 49% stake in PDSHC before the end of the year, already securing commitment from about 21% of shareholders at the time. It has set an offer price of P215 apiece for the shares.

The bank expressed its intention to increase its stake in PDSHC amid the Philippine Stock Exchange, Inc.’s (PSE) longstanding plan to merge the country’s capital markets. The PSE, however, has yet to bring down broker ownership to meet the single industry limit, consequently failing to secure exemptive relief for the PDSHC buyout.

Finance Secretary Carlos G. Dominguez, who also acts as LANDBANK’s chairman, earlier said that the delays in the PSE’s acquisition of PDSHC hampered the growth of the capital markets. — Arra B. Francia

Cultural activist Carlos Celdran, 46

CARLOS CELDRAN, the artist and activist who loved the glorious mess of Manila, passed away at the age of 46 in Madrid, Spain. His death was announced in a Facebook post by his wife, Tesa. “As the family is making arrangements to bring him home, no details can be announced yet. Only that he passed from natural causes,” the post said.

A social gadfly who riled up those in power, Mr. Celdran decamped to Madrid in January 2019 after being convicted of blasphemy. His Damaso performance, a one-man protest against the Catholic Church’s meddling with a woman’s right to birth control, “offended religious feelings” to the point of litigation. “I left the Philippines due to an aggressive political climate and human rights reasons,” Mr. Celdran wrote on his blog.

In February 2018, Mr. Celdran mounted the first edition of the Manila Biennale, an art festival that aimed to revitalize both Intramuros and the art scene by transforming the Walled City into a vibrant arts-and-cultural center. “I’ve always found art to be the most powerful way to change society, change the status quo. I think it’s always better to inspire than to intimidate. Because there are only two ways of making Filipinos change: you force them to change or you inspire them to change. And the best thing to use is art,” Mr. Celdran said in an interview.

He was also known for his Livin’ La Vida Imelda performance, an entertaining but pointed examination of the Marcos years, “a period when geopolitics and contemporary art intersected — sometimes with tragic consequences for the Philippines.” Or, in a more Celdranesque turn of phrase, the one-man show was about “the shoes, the hair, the architecture, and the fascism that was so in fashion at the time.”

His walking tours of Intramuros, which he conducted for 17 years in his signature black bowler hat, allowed him to share his love of Philippine history to a great many people. Mr. Celdran was the perfect tour guide: funny, whip-smart, and ebullient.

Prior to donning bowler hats and bunny ears, Mr. Celdran, at the age of 14, was a cartoonist for Business Day. He graduated with a fine arts degree from the Rhode Island School of Design in the United States in 1996.

Mr. Celdran’s energy and optimism will be missed. The Manila Biennale, which turned out to be a polarizing endeavor, was Mr. Celdran’s attempt to rouse the art community from the doldrums. “To save our soul, this is us telling our fellow artists to let’s get our shit together.” We will not easily find another like Celdran. — Sam L. Marcelo

Metro Manila still at risk of water shortage next summer — former MWC exec

By Victor V. Saulon, Sub-Editor

METRO MANILA remains at risk of a water shortage next summer as Angat Dam remains the sole supply source, but local government units in the Philippine capital can help avert another crisis through water demand-side management.

This is the view of Ferdinand M. dela Cruz, former president and chief executive officer of Manila Water Co., Inc. (MWC), who expects the city’s mayors to come up with a common stand to encourage consumers to be more conscious of their water use.

“What I did about three months ago was to approach sila Chairman Danny (Danilo D.) Lim ng (of) MMDA (Metropolitan Manila Development Authority) kasi (because) we needed the mayors to start talking about the demand side. Some mayors did during the crisis,” he said in an interview.

A water crisis hit Manila Water early this year when Angat Dam’s water flow of 46 cubic meters per second, translating to 4,000 million liters per day (MLD) or 1,600 MLD for the company, failed to keep up with a demand of about 1,740 MLD.

The situation was worsened by the El Niño phenomenon, which did not allow the dam to maintain its ideal elevation. A new water source in Cardona, Rizal was also not completed on time.

In April, the Metropolitan Waterworks and Sewerage System, which regulates Metro Manila’s east zone water concessionaire, imposed a penalty on Manila Water amounting to P1.134 billion.

Mr. Dela Cruz, who resigned in August from Manila Water, said the suggestion of a water demand-side management was warmly received by MMDA’s Mr. Lim. He said what the company was advocating was more encouragement from local government units (LGUs) on the prudent use of water.

“And if there could be local ordinances,” he said, pointing to possible regulation on the use of water for watering plants and washing vehicles.

“So we’re challenging the LGUs, ano ang pwede nating gawin (what can we do)? It could be an ordinance to limit [the use of water]. We’re giving them ideas but of course sila dapat magtulak noon (they should be the one to push it),” he said.

The ideas include water recycling and water harvesting when it rains, but not “imposing,” Mr. Dela Cruz said, adding that the discussions among LGUs are easier now after their constituents went through a water crisis.

He said on the supply side, Manila Water is prepared and has a roadmap on future water sources, including Wawa Dam and Laguna Lake.

By next summer, Mr. Dela Cruz said the situation may have improved but Kaliwa Dam, which is expected to be Metro Manila’s medium-term water source with 600 MLD, will still not be completed.

“The issue is what will be the level of Angat during summer,” Mr. Dela Cruz said. “That is the big question mark. You cannot replace 1,600 MLD.”

“We have to hit [an elevation of] around 212 to 214 [meters] by yearend,” he said, referring to a comfortable level before the summer months. “Depende pa rin ’yan (That still depends on) how much they give irrigation.”

Tribute show tonight for theater icon Tony Mabesa

TONY MABESA — TONY MABESA’S FACEBOOK PAGE

THERE will be a program honoring the “Lion of the Theater,” Antonio “Tony” Mabesa, who passed away last Friday after a seven-decade career in theater and film. Tonight for Tony: A Celebration will be held today at 4 p.m. at the University of the Philippines, Diliman in Quezon City.

Mr. Mabesa passed away on Oct. 4, at 10:20 p.m. He was 84.

Screenwriter Floy Quintos wrote on Facebook that day: “We, the family of Antonio Mabesa, are saddened to announce his passing. Sir Tony joined his creator at 10:20 this evening. He was surrounded by family and friends.

“We thank you for your prayers. We hope you can respect the family’s wish for privacy at this time,” Mr. Quintos added.

Born in Laguna in 1935, Mr. Mabesa began his journey in the theater by directing school plays at UP Rural High School. He went on to study at the University of the Philippines where he was mentored by National Artist for Theater Wilfrido Ma. Guerrero. He earned masteral degrees in theater arts at the University of California in Los Angeles in 1965, and in education at the University of Delaware in 1969.

In 1976, he founded the theater organizations Dulaang Unibersidad ng Pilipinas and its umbrella group, UP Playwight’s Theater where he was mentor to renowned actors such as Nonie Buencamino, Shamaine Centenera-Buencamino, Eugene Domingo, and Irma Adlawan.

Mr. Mabesa worked on more than 170 shows and also ventured into acting for film and television. His notable films include Tukso Layuan Mo Ako! (1991) and Kristo (1996); his latest role in television was Pedro Tansico in GMA7’s family drama series Hiram na Anak (2019).

In 2018, Mr. Mabesa played his last role in film as the late Eddie Garcia’s lover in the 2018 Metro Manila Film Festival (MMFF) LGBT-themed family drama, Rainbow’s Sunset, where he won the award for Best Supporting Actor.

Dulaang UP’s latest play, Fuente Ovejuna, which he directed, opens on Nov. 8.

Friends, family, and mentees expressed their condolences and appreciation for the late actor and director.

Shamaine Centenera-Buencamino on Oct. 5 wrote on Facebook: “My theater mentor passed away last night. Thank you sir Tony Mabesa. Not just for the acting lessons but for inspiring us to be our best in life. We love you and we will always be grateful that you became part of us. Please pray for the eternal repose of the soul of this beloved man. Bravo sir! Goodnight and may your soul rest in peace.”

On Facebook, theater director Dexter M. Santos wrote of his experience as a student of Mr. Mabesa and concluded with: “We all have our own special ‘Mabesa’ experience. Life lessons that molded us and made us survive this unforgiving industry. Memories that will forever be etched in our hearts. MARAMING SALAMAT PO SIR TONY… SA LAHAT LAHAT. You are not only a father to your ‘Mabesa Babies.’ You are not only a father to every UP Theater Major. You are a father to anyone who has been part of every Dulaang UP, UP Playwright’s Theater, and UP Dulaang Laboratoryo Production. You will be missed.”

Friends and colleagues who wish to pay their respects to Mr. Mabesa may visit Hall A at the Arlington Memorial Chapels and Crematory in Araneta Avenue, Quezon City. Interment details are to follow. — Michelle Anne P. Soliman

NIA, First Gen to develop hydroelectric power project

THE National Irrigation Administration (NIA) has signed a memorandum of understanding (MoU) with Lopez-led First Gen Hydro Power Corp. to develop a hydroelectric power project at the Aya Dam in Pantabangan, Nueva Ecija.

“In line with this, First Gen has requested NIA’s permission to conduct a comprehensive feasibility study of the project, including but not limited to, legal, economic, social, financial, and technical viability, to which NIA has permitted the former to conduct the same,” NIA said in a statement on Tuesday.

The government agency that oversees the development of irrigation systems in the country said the MoU will complement with the existing Pantabangan-Masiway hydroeletric power plant through an acceptable scheme under existing laws, such as the Renewable Energy Act of 2008 (Republic Act No. 9513).

The MoU was signed on Tuesday at its head office in Quezon City. NIA Administrator Ricardo R. Visaya and FG Hydro Vice-President Dennis Michael P. Gonzales signed the deal.

The 132-megawatt (MW) Pantabangan-Masiway hydroelectric power plant complex in Nueva Ecija is owned and operated by FG Hydro. The complex has two components: the then 112-MW Pantabangan hydroelectric plant component that was commissioned in 1977 and the 12-MW Masiway hydroelectric plant portion that was commissioned in 1981.

Both plants are part of a multipurpose hydro complex that supplies irrigation water for the vast rice fields of Nueva Ecija, around 180 kilometers northeast of Metro Manila.

FG Hydro is owned 40% by First Gen Corp. and 60% by Energy Development Corp. — Victor V. Saulon

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