House panel chair admits helplessness in scheduling ABS-CBN hearing

By Ben Rosario

Despite the desire to quickly resolve the ABS-CBN franchise issue, the chairman of the House Committee on Legislative Franchises has admitted that his hands remain tied and could not schedule congressional hearings to decide the fate of the network giant.

As Palawan Rep. Franz Alvarez is forced to dilly-dally by not calling for a congressional hearing on eight pending ABS-CBN franchise renewal measures, at least 22 other applications for legislative franchises filed by government agencies and private firms have also absorbed adverse effects triggered by the delay.

Also awaiting committee action is House Bill 410 which seeks to correct alleged constitutional violations in the franchise of the Philippine Amusement Gaming Corporation (PAGCOR).

Lawmakers filed the bill to stop PAGCOR from encroaching on the legislature’s constitutional authority to pass legislative franchises.

Responding to queries raised by his House colleagues when he reported at the plenary session on Tuesday, Alvarez admitted that he is still awaiting a go-signal to call for hearing the pending legislative measures proposing a 25-year renewal of the existing legislative franchise granted ABS-CBN.

“I want this issue resolved immediately but there is no go signal yet,” Alvarez was overheard telling two House members.

Last week, Cayetano assured authors of the bill that hearings will be conducted soon, notwithstanding President Duterte’s opposition to the network’s continued operation.

Deputy Minority Leader Carlos Isagani Zarate and Rep. Ferdinandd Gaite, both of Bayan Muna, dared Cayetano and the rest of the majority leadership to be “true to the mandate of an independent co-equal branch of government and call for a hearing on the franchise renewal of ABS-CBN in the first week of February, as announced last January 22.”

https://news.mb.com.ph/2020/01/31/house-panel-chair-admits-helplessness-in-scheduling-abs-cbn-hearing/

Group to Congress: Renew ABS-CBN franchise for sake of people, environment

Saying it was for the good of the people and the environment, an environmental group has expressed its support for ABS-CBN and called on Congress to renew its broadcasting franchise.

“ABS-CBN provides wide and strong platforms to communicate the importance of the environment, including the realities that have caused environmental destruction,” the Green Thumb Coalition (GTC) said in a statement last Jan. 24.

“It is a vital part of environmental advocacy that resulted in increased awareness to address issues and mobilize the citizenry towards critical engagement and environmental governance,” the coalition added.

The GTC cited that the network’s shows and programs showcase the country’s “rich biodiversity.”

“It etches in the nation’s psyche that there is a parallel importance of environment and sustainable development; that the country’s resources should be used to benefit the present and future generations of Filipinos,” the GTC said.

“By raising red flags on the disastrous consequence of large-scale mining, dirty and harmful energy such as coal plants, massive land conversion and deforestation by way of news reporting, ABS-CBN mainstreams the silent testimonies of the forests, seas and the skies; giving them the ‘voice.’”

The uncertainty surrounding the media giant’s fate was brought about by President Rodrigo Duterte’s adamant declarations, saying he would sign any law to renew the network’s franchise.

Under Republic Act 3846, radio and television companies must secure a franchise from the government before they can operate.

ABS-CBN’s franchise is set to expire on March 30.

While the GTC said that the network was “far from perfect” as it had its fair share of criticism, what sets ABS-CBN apart from the others was being at the “forefront of environmental and nation-building advocacy.”

The GTC particularly cited the late Environment Secretary Gina Lopez, who, the group said, was “instrumental” in shaping the network’s public service programs.

By rejecting ABS-CBN’s franchise, Congress would shut down “such programs and similar endeavors in the pipeline despite its role in complementing the country’s general welfare thrusts.”

“Indeed, both the Executive Department and Congress’s inaction to renew ABS-CBN’s franchise is not only an affront to a free press, unhindered by political pressures, it is equally an attack on an institution that has taken the cudgels for the environment,” the GTC said.

“A decision to silence ABS-CBN is a decision to silence all its public service programs. It is by no stretch a decision to silence the cries of the environment,” the GTC added.

The GTC then urged Congress to renew ABS-CBN’s franchise “now,” adding that it was  “for the people, for the environment.”

https://newsinfo.inquirer.net/1221385/group-to-congress-renew-abs-cbn-franchise-for-sake-of-people-environment

Time to be ‘greedy’ as local bourse looks for bottom

Heightened regulatory risks, environmental uncertainties spurred by Taal Volcano’s eruption and the shrinking weight of the Philippine market in key emerging market indices are taking a heavy toll on local stocks, but now is the time for the patient investor to come in, analysts at leading online stockbrokerage COL Financial said.

To date, the main-share Philippine Stock Exchange index (PSEi) has yet to find its bottom and is decoupling from the rebound seen by other emerging markets.

In a briefing on Tuesday, COL chief technical analyst Juanis Barredo said the PSEi was now testing major support levels and would need to stay afloat 7,475 to 7,500 and break past 7,900 in order to catalyze a rally toward 8,200 to 8,400. This best case scenario has a 30-percent probability, he said.

Otherwise, he said the index might sway down between 7,200 to 6,824.

Barredo sees only a 20-percent probability of things turning too gloomy that would drag the PSEi toward 6,800, the worst scenario so far.

COL’s base case scenario, with a 50 percent probability, is that the PSEi would consolidate in a lower channel, finding support at 7,000 then rallying toward 7,500.

The bears have yet to take control of the local market as the PSEi has not yet fallen by 20 percent from its high of 9,058.

On a fundamental basis, COL head of research April Lynn Lee-Tan said the 2020 outlook continued to be favorable, given that the 2020 national government budget had been passed in time, the Bangko Sentral ng Pilipinas has room to ease monetary policy, faster earnings growth, cheap local equity valuations and improving global economic outlook.

COL expects the component companies of the PSEi basket to grow corporate earnings by 12 percent this year, faster than the estimated growth of 8 percent last year, driven largely by the consumer, power, property and telecom sectors.

However, Tan said foreign investors continued to avoid the Philippines partly due to regulatory risks–referring to President Duterte’s tirades against Metro Manila’s water concessionaires and the pending review of other contracts. The worst-case scenario is if the government would come up with unreasonable new contracts and nationalize water concessions and confiscate other projects with so-called “onerous” contracts. She said this could lead to a downgrade in sovereign credit ratings. Given the government’s aggressive infrastructure build-up program, she noted that it could not afford to have any credit-rating downgrade since this would constrain the government’s ability to borrow.

“But we are not expecting the worst,” Tan said. “We know that our economic fundamentals are very good, valuations are very cheap, risks are significant but will eventually be resolved, although we don’t know when that will happen and how low the market will go, so it’s hard to pull the trigger.”

For investors, the best strategy will be to stay invested and manage the risks, she added. While it’s difficult to expect gains in the short-term, investors will have to keep a long-term perspective and limit the size of their investment.

Citing investment guru Warren Buffet’s aphorism that the stock market is a device for transferring money from the impatient to the patient, Tan said that “for the patient investor, now is the time to invest.”

Likewise in reference to Buffet’s often-quoted advice to “be fearful when others are greedy and greedy when others are fearful,” Tan said, “definitely now is the time to be greedy.”

Tan said the four possible catalysts for the PSEi’s rebound would be the drafting of water concession contracts that would favor both the private and public sectors, an objective evaluation of so-called “onerous” contracts, franchise renewal for beleaguered broadcasting giant ABS-CBN and bankruptcy and corporate rehabilitation of defunct E-commerce and social networking site Multiply and waning of Taal Volcano’s activity. (See: Multiply bankruptcy)

https://business.inquirer.net/289214/time-to-be-greedy-as-local-bourse-looks-for-bottom

SM Supermalls names Tan as new chief

SHOPPING Center Management Corp. (SCMC), SM Prime Holdings Inc.’s subsidiary managing SM Supermalls, appointed Steven Tan as its new president.

The Sy-led conglomerate made the announcement via a disclosure to the Philippine Stock Exchange on Tuesday.

“His new position underscores the rapid and dynamic changes in the Filipino consumers behavior. Mr. Tan’s focus on building meaningful shopping experiences consistently through his career prepares him for this next phase,” SM Prime President Jeffrey Lim said.

Prior to his promotion, Tan was the chief operating officer of SCMC.

He was also the head of operations for SM Supermalls in China and in the Philippines.

The new SM Supermalls chief also led the launch of SM Mall of Asia in 2006 and SM Aura Premier in 2013.

Tan completed his master’s degree in business administration from the Paris School of Management.

He started his career working in various hotel properties in Taipei, and Shanghai before venturing into marketing and communications.

SM Prime’s income in the first nine months in 2019 rose by 18 percent to P27.6 billion from P23.44 billion a year ago due to robust mall and residential segments.

Mall revenues inched up by 8 percent to P42.03 billion while residential revenues climbed by 26 percent to P31.92 billion as of end-September last year.

SM Prime shares dropped by 3.05 percent or P1.25 to end at P39.75 apiece on Tuesday.

https://www.manilatimes.net/2020/01/29/business/companies/sm-supermalls-names-tan-as-new-chief/678092/

Artists, environmentalists urge Congress to pass ABS-CBN’s franchise renewal

The Concerned Artists of the Philippines, an organization of local artists, musicians, writers, filmmakers, and cultural workers in the country, has expressed support for the renewal of ABS-CBN’s franchise.

“We support the call for the immediate renewal of ABS-CBN’s franchise, which is set to expire in March 2020,” said the group in a statement recently posted on Facebook.

The group also called their members, allies, and fellow media workers to sign the one million signatures for ABS-CBN franchise renewal petition initiated by the National Union of Journalists in the Philippines (NUJP) on change.org.

“We urge actors, actresses, directors, writers, producers, and other media workers, whether in ABS-CBN or other networks, to wield their influence for the common good and encourage more Filipinos to rally against what NUJP describes as a “rape of democracy,’” according the group’s statement.
The organization also called on Congress to consider the non-renewal of ABS-CBN’s franchise as a threat to the future of its employees and their families and on the freedom of the press.

“Our representatives must understand that the threat to ABS-CBN’s future is not only a threat to the future of its thousands of employees and talents but also a threat to our democracy and freedom that they are bound to safeguard,” as stated in their official statement.

Celebrities, including Vice Ganda, Lea Salonga, Anne Curtis, Robi Domingo, Sunshine Cruz, Liza Soberano, Karla Estrada, Ria Atayde, Gretchen Ho, Agot Isidro, Marvin Agustin, Jolina Magdangal, Iza Calzado, Ogie Alcasid and Regine Velasquez have also vented their support for ABS-CBN’s franchise renewal as they shared the petition on social media, calling on their followers to sign the NUJP-initiated petition.

A nationwide alliance of environment groups, Green Thumb Coalition (GTC), has also showed its support for the franchise renewal of ABS-CBN for the network’s efforts in communicating the value of the environment through its various platforms, producing educational shows and providing relevant public service programs.

In a statement, GTC said that the TV network “provides wide and strong platforms to communicate the importance of the environment, including the realities that have caused environmental destruction.”

The 40-group coalition hailed the network’s news department for giving “voice” to nature.

“By raising red flags on the disastrous consequence of large-scale mining, dirty and harmful energy such as coal plants, massive land conversion and deforestation by way of news reporting, ABS-CBN mainstreams the silent testimonies of the forests, seas and the skies; giving them the ‘voice’.”

The coalition also said, “Filipinos clearly benefit from the positive impacts of its educational shows like ‘Sine Skwela,’ ‘Hiraya Manawari,’ ‘Bayani,’ among others and public service programs such as ‘Bantay Bata 163,’ ‘Sagip Kapamilya,’ ‘Bantay Kalikasan,’ to name a few.”

“GTC is reminded of the critical persistence and dedication of the late Gina Lopez, who had been instrumental in shaping much of the public service programs of ABS-CBN that continue to this day. These programs have been embraced by the people as emblematic of the Filipino culture and traditions,” according to the coalition.

The Philippine Movement for Climate Justice (PMCJ), another alliance of over 100 organizations representing various sectors in the country, also stands with GTC in their statement on ABS-CBN’s franchise renewal.

“ABS-CBN is one of the broadcasting stations that have been consistent when it comes to informing the public about the environment, its impact on our lives, and more importantly, how we can do our part in preserving our natural resources and help battle climate change,” said PMCJ in a Facebook post.

“In our world today, it is paramount that the people are well-informed about developments on our planet's climate and become empowered to act accordingly,” the group added.

https://www.philstar.com/entertainment/2020/01/28/1988462/artists-environmentalists-urge-congress-pass-abs-cbns-franchise-renewal

SM Mall of Asia Expansion

December 17, 2019

The old skylight is gone (2006-2019) 

New Escalators! 

At the 3rd Floor 

East Quadrant is ready for expansion 

January 26, 2020

Possible bridgeway between South Parking Building (SPB) and IKEA? 

Northwest Bridgeway

Valet area has been spruced up

 Entertainment Mall

South Entertainment Mall

New Tiles Spotted

Bridgeway to North Parking Building (NPB)?

From Hans Sy:

- Expansion will still be completed by 2022

- 24/7 Construction work suggested to him, but declined due to quality reasons

February 13, 2020

The new South Entertainment Mall Sports & Active Zone - Go Sport, Palladium, Speedo, Fila, etc will open soon.

MoA FOOD HALL

More tenants opening soon at the GL Atrium (Muji, Champion, Monki)

South Main Mall L3 on-going construction

February 28, 2020

° Main entrance (facing South Parking) is now boarded up in preparation for vertical expansion.

Inside and MOA Food Hall

The newly enclosed South Entertainment Mall

Commune Hall feels. Like a more restrained but refined version of Commune Hall with less visual clutter.

I wonder though, if Megamall can house both a Food Hall and a Food Court, why not MoA? Does anyone think (or know for sure if) a food court for plebeians will open elsewhere in the mall, one where tenants also offer dining choices at two-digit prices? Does Taste Asia food hall at the North Entertainment Mall counts? I think that they can put the Food Court brand at the Entertainment Mall near the music hall.

Does this mean, it will be enclosed? Certainly feels like it

February 15, 2020

Other updates:

Surplus will be relocated to a new location on Feb. 17, at the former site of Director's Club Cinema in the South Main Mall L2.

Fish & Co. and Italianni's have closed at the South Entertainment Mall to give way for the expansion works at that side (Burger King, SMDC and Cabalen are still open)

Din Tai Fung and Krispy Kreme will open at the new indoor section of the South Entertainment Mall, at the Ground Level.

BBX (Bad Bird), Frankie's, Sushi Nori, Easy Tiger, Dynasty Noodle Bar (Paradise Dynasty) will open soon at MoA Food Hall

Charriol will be opening soon at the 2F North Main Mall.

Doughnut, Malongo and Motoworld are opening soon at the L2 South Entertainment Mall.

> Another Penshoppe (since there's a new store?) will open at the 2nd Floor, North Main Mall, near Aldo.

> Ben's Cookies will open at the Ground Level West Atrium (south stairs)

> Pretzelmaker will open at the indoor section of the South Entertainment Mall (hilera ng Adidas at Nike)

> Forever 21 now has a tarp

> Coffee Bean & Tea Leaf will open at Level 2 West Atrium.