...the French PM visit

Historic visit by French leader to spur investments By Aurea Calica The Philippine Star October 20, 2012

French Prime Minister Jean-Marc Ayrault and his wife Brigitte are welcomed by President Aquino to Malacañang yesterday. WILLY PEREZ |

MANILA, Philippines - The Philippines is grateful for renewed French interest in the country as Prime Minister Jean-Marc Ayrault embarks on an official visit here, a first since the establishment of diplomatic relations between the two countries in 1947.

President Aquino yesterday welcomed Ayrault and his delegation to the Palace, where a bilateral meeting was held. Malacañang also hosted a dinner in honor of the French leader.

The Department of Foreign Affairs (DFA) said Ayrault, who assumed his position last May, was accompanied by a 130-member delegation comprised of ministers, parliamentarians and businessmen.

Deputy presidential spokesperson Abigail Valte said the visit of Ayrault was significant since bilateral trade with France increased in 2011 to $1.143 billion. “French investments are up by 90 percent in 2011,” Valte said in a press briefing.

She said French companies like Lafarge, Total and Alcatel also have a strong presence in the country. ]Other French companies have also signified their intent to participate in the bidding for several public-private partnership (PPP) projects.

The two leaders signed a Declaration of Intent in relation to a study for energy production from biomass.

The French government agreed to provide $482,204 to fund the feasibility study on rice straw as fuel to generate electricity using organic ranking cycle (ORC) technology.

Once the pilot project is developed, similar power stations could be installed in rural areas in the Philippines and exported to rice-producing countries in the Association of Southeast Asian Nations (ASEAN). Aquino and Ayrault also signed the Philippines-France Memorandum of Agreement on the Philippine Exhibition at the Musee Du Quai Branly.

“It confirms the conditions of the loan security conservation and return to the Philippines and immunity from seizure of the objects and artworks loaned for the exhibition and it will ensure mutual assistance in administrative matters of the following participating institutions: The National Museum of the Philippines and the Museum of the Bangko Sentral ng Pilipinas,” Valte said.


The Philippines was chosen to be the featured country in a grand exhibition at the museum in Paris from April to July of 2013.

It will be a landmark exhibition that will showcase 300-plus artifacts on pre-colonial Philippines.

The agreement aims to ensure the safety of the national treasures and other artifacts from the Philippines while in transit and on exhibition.

The French Prime Minister invited Aquino to open the exhibit of Philippine artifacts in France next year.

Ayrault said he and Aquino discussed a number of issues including China, security, sea traffic and other areas where the two countries could cooperate to strengthen economic and historical links.

Aquino, who thanked Ayrault and his business delegation for visiting the country, said the French side had been assisting the Philippines on projects to address climate change

and on urban development.


Ayrault said he would like to pay tribute to the Filipino people and also the President for overcoming personal ordeals for freedom, democracy and justice.

The French leader cited Aquino’s role in ASEAN and the kind of leader he had become, being the son of two democracy icons.

Ayrault said Aquino never gave in and never gave up in his fight for democracy, justice and human rights, and had always been committed to peaceful settlement of disputes both on local and international fronts.

Ayrault said several French companies came with him, as well the minister for foreign trade and a delegation of French leaders for the business forum today where possible investments could be explored.

 

...the Pinoys in Kiwi country

Pinoys help rebuild NZ city destroyed by earthquake By Nicholas Jones  (The Philippine Star)  October 20, 2012

MANILA, Philippines - Filipinos will play a key role in rebuilding a New Zealand city devastated by earthquakes, an example of growing ties between the two countries to be strengthened when President Aquino visits on Monday.

 

Aquino will be in New Zealand for two days and will head a group including a large trade delegation and members of the Cabinet.

 

Trade and business cooperation will be a focus of the visit, with the Philippines targeted by New Zealand as its third-largest market for dairy exports such as milk.

 

But with New Zealand’s Filipino population growing rapidly, cultural ties are also bringing the two countries closer.

 

That has been underlined by Filipino tradespeople’s help in getting Christchurch back on its feet.

 

The city was devastated by a magnitude 6.3 earthquake in February 2011 which killed 185 people – including 11 Filipinos – and left much of the central city in rubble.

 

The cost of the rebuild is estimated at $25 billion and will continue for several years.

 

But with a total population of 4.4 million, there are not enough local tradespeople to get the job done.

Nathanael Mackay, manager of NZ Immigration’s Manila branch, said working visas for the Christchurch rebuild had already been granted to 157 Philippine nationals.

 

That number will grow as the rebuild intensifies, with New Zealand construction companies visiting the Philippines to recruit workers.

 

Up to 30,000 workers – local and foreign – will be required during different times of the work.

 

“The rebuild is expected to create a variety of work opportunities in the Canterbury region, particularly for skilled tradespeople such as painters, carpenters and plasterers,” Mackay said.

 

The Philippines was a main skilled labor market being targeted by New Zealand employers, the others being Ireland and the United Kingdom.

 

Mackay said his office had created a website with the relevant information, and stressed work visas needed to be obtained before arriving in New Zealand.

 

 

Cultural links

 

 

New Zealand Ambassador Reuben Levermore said the Christchurch recovery was just one way the countries were being linked culturally.

 

 

He said the Filipino community in New Zealand had almost doubled in size since the last presidential visit in 2007.

 

 

“Small numbers in Philippine terms... heading towards 40,000 people – but that’s also heading towards one percent of our population,” he said.

 

 

Most of those people were skilled migrants, Levermore said.
 

The Philippines is currently New Zealand’s fourth-largest source of skilled migrants.
 

“These are people who are engineers, nurses, IT professionals, and now dairy workers as well. And they have a good reputation,” Levermore said.

 

 

His sister has a dairy worker from Mindanao on her farm in New Zealand’s mid-Canterbury region.

 

 

“If you live in rural New Zealand, you’re probably not going to know much about the Philippines. But again, it’s that human element.”

 

 

Levermore said as people learn more about each other they would do more together – whether in tourism, business, or education.

 

 

“Maybe in time New Zealanders might start to think, I’ll go on holiday there. We go to Bali, we go to Vietnam and Thailand.”

 

 

Filipinos had proven themselves ideal migrants to New Zealand, Levermore said.

 

 

“They speak English, they are very outgoing, friendly people who integrate well. And the fact that most Filipinos are Catholic, means they connect well to our Catholic communities in New Zealand.”

 

 

Communications Secretary Ricky Carandang, speaking to The STAR before he flew to New Zealand this week, said those shared values were at the base of the countries’ relationship.

 

 

President Aquino’s party will also visit Australia after two days in New Zealand.

 

 

“It doesn’t always make it to the headlines, but the ties are deep, they are historical, and they are multi-faceted,” Carandang said.

 

“We are a Christian-based democracy. And there aren’t many of those in Southeast Asia. We have shared values with Australia and New Zealand.”

 

 

Business high on agenda

 

 

During the state visit, the Philippines and New Zealand are set to sign a number of agreements to expand business between the countries.

 

 

The finalization of the Philippine Dairy Development Program and a Memorandum of Agreement on geothermal energy cooperation are likely to be on the agenda.

 

 

Levermore said energy was an example of how New Zealand expertise could benefit the Philippines.

 

 

The countries had much in common in terms of energy generation, with both producing hydro and geothermal energy, he said.

...the Korean perspective

Korean manufacturers eye Phl operations

 

 

By Louella Desiderio,

The Philippine Star

 10/20/2012

 

 

MANILA, Philippines - Korean manufacturers of construction equipment are looking at producing the equipment in the Philippines given the availability of manpower and the country’s geographical location.

 

ASEAN (Association of Southeast Asian Nations) – Korea Center Secretary General Hae Moon Chung told reporters on the sidelines of an investment forum that some Korean firms are interested in investing in the Philippines for the manufacture of excavators and other related equipment.

“These companies are interested in looking at the market for construction equipment and some are looking at producing equipment in the Philippines,” he said.

Some 14 Korean firms are part of an investment forum organized by the intergovernmental organization ASEAN-Korea Center, which seeks to increase trade and accelerate investment flows in the ASEAN and South Korea.

Chung however declined to identify the firms.

He said the Korean companies are looking at the Philippines given the availability of manpower here.

He said the Philippines’ geographical location makes it attractive since it is not very far from South Korea.

He noted though that the country, just like other members of the ASEAN, still lacks a developed manufacturing sector.

“Other than agricultural products, there is not much to export,” he said.

A developed manufacturing sector would allow the country to export more products to Korea and other markets.

Chung said the ASEAN-Korea Center intends to organize more business missions to help increase trade and investments between the two countries.

Since 2006, data from the ASEAN-Korea Center showed trade volume between the two countries has increased 1.8 times from $6.1 billion to $10.9 billion last year.

Korean investments to the Philippines meanwhile, has reached $885 million as of the first-semester.
Last year, investments made by Korean firms to the country amounted to $206 million.

...the French PM's visit

French PM to make historic visit to Phl (philstar.com)  October 19, 2012

MANILA, Philippines (Xinhua) - French Prime Minister Jean-Marc Ayrault is arriving in the Philippines today for a three-day visit, the first by a French leader since the Philippines forged diplomatic ties with France 65 years ago.

Ayrault is set to meet with Philippine President Benigno Aquino III for talks on strengthening the two countries' economic and political ties as well as regional and multilateral ties.

He will be accompanied by a 130-member delegation consisting of ministers, parliamentarians and businessmen.

Businessmen from France will participate in a Philippine-French business forum on Oct. 20. The forum is expected to highlight business opportunities in the Philippines.

The Department of Foreign Affairs said several business contracts will be signed and announced during the forum.

Leading global French companies have also expressed interest in participating in bidding for projects under the Philippine government's Public-Private Partnership program.

Total bilateral trade between the Philippines and France amounted to $1.14 billion in 2011.

Last year, French investments in the Philippines went up by 90 percent on year to P1.14 billion ($277.44 million).

...the PH retail bonds

PHL sells record-breaking P188B worth of 25-yr. retail bonds

 

 

 

October 19, 2012

GMA News

 

 

The Bureau of the Treasury terminated its debt sale late Thursday – ahead of its Oct. 22 closing date – after selling a record-breaking P188 billion worth of 25-year retail Treasury bonds or RTB.

"Sales hit about P188 billion. Volume consistently oversubscribed many times over on daily offers submitted. National Treasurer Roberto Tan told reporters Friday.

The latest debt sale breached the P179.9 billion worth of 15- and 20-year RTBs the government sold last February, and reflected a precedent-setting exercise as the first 25-year RTB the government sold.

Individual investors as well as government-owned or controlled corporations and local government units were largely the buyers of the national government’s latest offering, priced at 6.125 percent.

The price-setting auction started on Oct. 9, during which the Treasury Bureau P62.988 billion worth of the 25-year debt at 6.125-percent coupon rate.

Hired by the government were 23 selling agents led by issue managers Land Bank of the Philippines and Development Bank of the Philippines.

The selling agents included Allied Banking Corp., ANZ Banking Group Limited, BDO Capital and Investment Corp., BDO Universal Bank, BPI Capital and Investment Corp., China Banking Corp., Chinatrust Banking Corp., Chinatrust Philippines Commercial Banking Corp.

Also tapped to sell the 25-year bonds were Citibank, Deutsche Bank, Eastwest Banking Corp., First Metro Investment Corp., Hongkong and Shanghai Banking Corp., ING Bank, Maybank Philippines, Metropolitan Bank & Trust Company, Philippine National Bank, Rizal Commercial Banking Corp., Security Bank, Standard Chartered Bank, Sterling Bank of Asia, and Union Bank of the Philippines.

By December, the government is scheduled to stage a domestic debt exchange as part of its liability management strategy by redeeming maturing debts with longer-term settlement dates and lower interest rates. — VS, GMA News

...the likely (rating) upgrade (Bloomberg)

Economist: PH likely to get a rating upgrade

 

 

ABS-CBNnews.com

10/19/2012

 

 

 

"The Philippines is a great place to be, especially over the long run and there's an immense untapped potential in the country, especially in the mining sector," - Michael McDonough, Bloomberg economist

 

 

 

MANILA, Philippines - While Standard & Poor's says the Philippines still needs to overcome some hurdles before it can get investment-grade status, a Bloomberg analyst believes it's only a matter of time.

 

"The Philippines is well in investment grade actually. If you compare where it's ratings are versus where this instrument is being priced against 50 countries, the Philippines is most likely to get an upgrade... I do think its a matter of time. The Philippines is a great place to be, especially over the long run and there's an immense untapped potential in the country, especially in the mining sector," Michael McDonough, Bloomberg economist, told ANC.

The Philippines' current rating from S&P and Fitch is one notch below investment grade, while Moody's places the country two notches behind although with a positive outlook.

Investment grade status means that the three primary rating agencies in the world perceive a country to be a safe investment. This would lead to lower borrowing costs for the Philippines.

While some traders are already pricing in an upgrade to investment grade for the Philippines,
McDonough said there are certain pension funds and money managers that are not allowed to invest in a country unless it is investment grade.

"Speculative money could come in quickly but could also get out quickly, so once you get investment grade, you get more of these long-term money managers who will put money for longer. So you don't have to worry about them getting the money out as quickly," he said.

He noted that the euro zone crisis and weakness in the US economy may have led ratings agencies to be more careful in giving upgrades.

"If you look at what is going on in the world right now, its not very positive. So I'm not surprised if the rating agencies would come out and say we're not doing this upgrade yet...And it's not per se, the Philippines' fault. It lies on places like Europe and US. There's just a lot of uncertainty out there.

Unfortunately, these external factors are impacting the decision not to do the upgrade," McDonough said.

The Aquino administration, which has enjoyed 8 positive credit rating actions in the last 2 years, has been pushing for an investment grade status. - With ANC

...the Global Outlook

GLOBAL OUTLOOK ON PHILIPPINE ECONOMY

Awareness

October 18, 2012

Manila Bulletin


THE Philippines enjoys positive assessments and forecasts by global rating agencies and financial services firms, most of them citing governance reforms and their impact on attracting investments and doing business in the country. The latest, a special report by Dow Jones subsidiary, Market Watch, said the Philippines is emerging as one of “New Tigers” or economies that are “poised to drive future growth and grab more economic power” in Southeast Asia. The four Asian Tigers are Hong Kong, Singapore, South Korea, and Taiwan.

The Chief of Emerging Markets Equity Team at Morgan Stanley Investment Management (MSIM), Ruchir Sharma, said in his book, “Breakout Nations: In Pursuit of the Next Economic Miracles,” that the Philippines may soon join the world’s “tiger economies” as a result of reforms and strong leadership of the Aquino Administration. An economic surge may happen if the Philippines “rightfully manages its vast resources – being the world’s fifth-richest in natural resources such as oil, copper, nickel, gold, and silver,” he said.

Two foreign economists – Dr. Tyler Cowen and Dr. John Nye – both professors at George Mason University in Washington, DC, said the Philippines has the “best chance” of becoming a tiger economy in Asia. “The Philippines has strong economic fundamentals,” said Dr. Cowen, citing the gains of the Aquino Administration, English proficiency, and Filipinos’ belief in education as key ingredients for economic liberation. Dr. Nye advised that to achieve long-range changes, the Philippines should focus on two areas: Simplify the rules and further open up to the market.

Deutsche Bank AG, a German global banking and financial services company, noted the Philippines has become the strongest economy in Asia, citing its 6.4 percent growth in the first half of 2012, the fastest in the region. Growth is being driven by improved exports, it said, noting its resiliency despite the global conditions. A Wall Street Journal supplement, “Asia’s Euro Risk: How Will Asia Fare if Europe Cracks?” said that “only four economies – Australia, China, Indonesia, and the Philippines – were projected to weather a European situation, assessing that “the Philippines is better prepared to withstand a downturn with a stronger government balance sheet and a robust domestic economy.”

We congratulate President Benigno S. Aquino III and Vice President Jejomar C. Binay for their strong leadership and reforms that assure economic growth and the country’s recognition as emerging “tiger economy.” CONGRATULATIONS AND MABUHAY!

...the Next Tiger Economy

Is the Philippines the Next Tiger Economy?

 

 

Richard javad Heydarian

Foreign affairs analyst

The Huffington Post
10/18/2012 


As emerging economic giants of Brazil, Russia, China, and India whimper, global investors are increasingly enthralled by the bang of more compact, democratic and dynamic economies. A combination of robust domestic spending, macroeconomic buoyancy, and labor-market flexibility has more than compensated for their smaller size. The new darlings of international finance include countries such as Turkey, Indonesia, and the Philippines. While the two Muslim nations are well on their way to join the elite group of trillion-dollar economies, the Philippines is relishing a strong economic momentum.

Amid global fears of a double-dip recession, the Philippines represents a countercyclical story of growth and resilience. It is expected to expand by 5.5-6 percent this year. The currency has been relatively strong, while the stock market has been among the most bullish in Asia. The first quarter was most encouraging: the economy grew above 6 percent, while exports expanded by 7.7 percent. The country is also enjoying an 'era of moderation': interest rates are at around 4 percent, inflation is barely above 3 percent, and the debt-to-GDP ratio is at a historic low -- allowing considerable space for borrowing and monetary easing.

This sound economic environment explains why even "Dr. Doom" Nouriel Roubini has identified the Philippines as among the most resilient of key Asian economies in terms of responding to a major global shock. According to the Roubini Global Economics report, the country has considerable monetary-fiscal wiggle room to respond to growing volatility in the center-economies (i.e., euro zone, U.S., Japan, and China) and geopolitical uncertainties in the Persian Gulf.

As a result, all major credit agencies have upgraded Philippines ratings, currently just a notch below the 'investment grade' level.

So why is East Asia's 'sick man' suddenly booming? Well, similar to its peers in Ankara and Jakarta, the secret to Manila' economic upswing lies in improved governance and political stability. After a decade of democratic reversals, anemic economic performance, and widespread public dissatisfaction, the new Aquino administration is laying down the foundation of perhaps the next tiger economy in Asia.

Since taking office in 2010, President Aquino -- intent on rooting out corruption -- has successfully managed to impeach leading magistrates accused of corruption and administrative misconduct, paving the way for the prosecution of the former President Gloria Arroyo. To enhance transparency, he has aggressively lobbied for the passage of a Freedom of Information (FOI) bill in the legislature.

Meanwhile, he astutely navigated through the country's intricate state-church relations by helping his legislative allies to pass the controversial Reproductive Health (RH) bill, giving the state potential control over the country's explosive population growth.

In terms of conflict-resolution, the President has successfully concluded a 'framework agreement' with the country's main rebel group, the Moro Islamic Liberation Front (MILF). This could be the beginning of a long but fulfilling process of reconciliation, reconstruction, and sustained development in the country's southern island of Mindanao.

Recognizing the depth of his country's poverty and inequality, Aquino has engaged in a massive 'conditional cash transfer' program, targeting the most vulnerable sectors. There are also some signs of economic trickle-down: the second-quarter of 2012 has reported notable declines in adult unemployment (from 28.6 to 34.4 percent) and hunger (from 23.8 to 18.4 percent) compared to the first quarter, according to the Social Weather Station (SWS).

The government has also heavily relied on Public-Private Partnership (PPP) Projects to boost Philippines' flailing infrastructure and enhance investment-attractiveness. In less than 16 months it finalized a major PPP project.

It is these efforts that partly explain the Philippines' impressive performance in this year's economic competitiveness survey, with the country jumping by 10 notches in global rankings compared to last year. No wonder, an inspired Aquino recently declared, "We are now reaping economic benefits of good governance."

However, the true test of the new administration's mettle lies in achieving 'inclusive and sustainable' growth. By any measure, the Philippines is a land of extremes and mind-bugling contradictions. A third of the country's capital, Metro-Manila, is filled with 'shanty towns,' but it also boasts one of the world's biggest shopping malls, namely Mall of Asia and SM North Edsa, while benefiting from an impressive real estate boom, showcasing lush structures such as the Resorts World casino complex, a $4 billion Entertainment City complex, and a Versace-designed residential Tower (first of its kind in Asia). Global celebrities such as Paris Hilton and Donald Trump have lent their name to major residential projects in the country, namely the Azuri Urban resorts residences (showcasing a jaw-dropping man-made beach) and the $150 million Trump Tower.

It takes a cocktail of unyielding leadership and sustained implementation of right policies to address the country's structural imbalances. According to a recent authoritative study by the Asian Development Bank (ADB), entitled "Taking the Right Road to Inclusive Growth," the country's economic growth has not only failed to make dramatic and much-needed improvements in terms of poverty-alleviation and employment-generation, but it is ultimately 'unsustainable' -- unless there is significant diversification of an essentially service -- and remittance-dependent economy. This means the country needs to build a strong manufacturing base.

Party to a whole host of international trade regimes that have liberalized the Philippines' manufacturing markets, atop an appreciating currency, the country has been suffering from marked de-industrialization in recent decades. As a result, real wages have practically stagnated in the last three decades, with much of the population denied access to stable and well-paying jobs -- relying instead on remittances, insecure and low-paying jobs in the service sectors, or/and totally enmeshed in the informal economy. Moreover, the Philippines still struggles to attract investments. According to the IFC's 2012 Doing Business Survey, which looks at the overall investment environment, the Philippines ranks 136th out of 183 countries.

Clearly, reviving industries and improving the country's overall investment climate will require a much more structural and strategic economic approach, something which is glaringly absent in the current administration's agenda. But at least, there is finally a semblance of badly-needed macroeconomic and political stability.

...the PH stock market

Stocks shine as Thais, Filipinos nurture stability

By Pamela Sampson
Associated Press

Thursday, October 18th, 2012

The PSE benchmark in the Philippines has soared 29 percent in the last 12 months, making the country, together with Thailand, as the region’s best-performing stock market in the past year. AFP FILE PHOTO

BANGKOK —The two Asian nations with the region’s best-performing stock markets in the past year are unlikely havens for investors: Thailand and the Philippines. Both are better known for troubled politics and natural disasters, but have outshone higher-octane neighbors as new leaders nurture relative calm.

The PSE benchmark in the Philippines has soared 29 percent in the last 12 months and Thailand’s SET index is up a whopping 33 percent. By contrast, an index compiled by MSCI that tracks stocks in 12 Asian countries is up a ho-hum 2 percent. The Shanghai Composite Index in rising power China has sunk nearly 14 percent.

The Philippines, long regarded as an economic backwater blighted by a succession of deeply corrupt governments, has gained a measure of credibility due to the stability ushered in by the 2010 election of President Benigno Aquino III. Analysts credit him with boosting investor confidence by cracking down on corruption and living up to his promises of openness and good governance.

Thailand too has benefited from an improvement in its politics, although it’s unclear whether the current stability will be enduring. The country seemed to be veering toward civil war in 2010 when deadly street battles raged in Bangkok between the army and loyalists of Thaksin Shinawatra, the populist prime minister ousted in a 2006 coup.

Local stock brokers were resigned to the Thai market lagging its potential but the landslide election victory in 2011 of a pro-Thaksin party and the popularity of the country’s first female prime minister, Thaksin’s younger sister Yingluck, have boosted confidence. Lately, Thai stocks have also got a fillip from big-spending government policies that include efforts to overhaul flood defenses after a widespread inundation wrecked industry last year.

For both countries, the perception abroad that they have become a bit less risky has drawn renewed attention to their selling points.

One of the high notes for the Philippines is its newly minted status as a creditor nation, the first time in 40 years. Its foreign currency reserves total $80 billion, while foreign debt is about $65 billion.

 

Theoretically, the country could pay off all its foreign obligations and still have $15 billion in cash left over, said Alfred Dy, head of Philippines research at CLSA Asia-Pacific Markets.

“It’s the opposite of the countries in the West, where there’s a lot of external debt,” Dy said.

The country’s accumulation of foreign exchange is driven by two sources: remittances, or money sent home to the Philippines by citizens who work abroad, and the dramatic growth in outsourcing.

The remittance trend began as early as the 1960s, when Filipino nurses traveled to the US to work the night shifts at hospitals—hours that American nurses didn’t want to work. Today, more than one in 10 Filipinos out of a population of 95 million lives abroad for work. They sent home $20 billion in 201—more than double the amount in 2004.

The fact that they are spread across the world—in the Middle East, in America, throughout Asia—also spreads the risk if a particular region goes into an economic slump.

Meanwhile, a boom in business outsourcing, enabled by the high level of English proficiency in the Philippines and its young workforce, racked up $14 billion in 2011—soaring from $3 billion that was earned just seven years ago. The Philippines now rivals India as a global outsourcing giant.

These trends have insulated the Philippine economy from the export-reliant doldrums being experienced elsewhere in Asia.

“We don’t rely as much as other countries on exports,” Dy said. “It’s really more of a service economy, it’s sending people abroad and getting contracts on business outsourcing, which makes the Philippines a bit unique.”

“Even if the global economy slows down, we think these two items will be relatively resilient compared to traditional exports,” he said.

In Thailand, the government’s drive to boost investment and growth after massive flooding decimated industry last year has helped to make it a favorite of stock investors.

Thailand’s economy shrank 10.7 percent in the last quarter of 2011 after the country’s worst flooding in more than half a century disrupted operations at more than 1,000 factories, bringing the country’s key automotive and computer parts industries close to a halt.

But ever-resilient Thailand is bouncing back. The Asian Development Bank predicts Southeast Asia’s second-biggest economy will grow 5.2 percent this year and 5 percent in 2013.

Investors view positively measures Thailand has taken to increase domestic consumption, such as raising the daily minimum wage to 300 baht ($10) and offering rebates to first-time car buyers.

“It’s enabled households to have more disposable income and spend more,” said Frederick Gibson, associate economist at Moody’s Analytics. “I think the market has taken that as a positive sign, that households will have the ability to spend and that hopefully will have a positive impact on growth.”

Thailand’s public debt load as a percent of the economy—relatively low at 40 percent—means the government has the leeway to undertake expansionary fiscal policies, such as corporate tax cuts and other measures, said economist Eugene Leow of DBS Bank Ltd. in Singapore.

The country also has mapped out major infrastructure projects, including flood prevention measures, in the next few years.

“There are a lot of projects in the pipeline,” Leow said. “All these projects will cushion any slowdown.”

So of the two stock markets, which might be the better bet for investors wanting to take the plunge into Southeast Asian equities?

Herald van der Linde, head of equity strategy for Asia Pacific at HSBC, said he believes the Philippines stock market has become one of the most expensive in the world.

Van der Linde especially likes Thai banks since demand for financial services is growing fast. Like elsewhere in Asia, Thais have begun to invest in their own local markets and investment products, breaking from the traditional way of stashing wealth into houses and land, van der Linde said.

“Thailand, coming from a low base, is not that expensive yet. So if I had to put my money somewhere, I would put it in Thailand,” he said.

...the PH World's Top Choir

19 PHL choirs make it to list of 1,000 best choirs in the world

 

October 17, 2012

GMA News

 

 

Nineteen Filipino choirs made it to the international group Interkultur's list of top 1,000 choirs around the world.

 

According to its official website, Interkultur is a group that aims to bring together people from different countries through music.

 

 

The Philippine choirs that made it to the top 1,000 list are:
 

46. Kilyawan Boys Choir
 

77. Mandaue Children's Choir
 

93. The Himig Singers
 

101. Miriam College High School Glee Club
 

109. Kammerchor Manila
 

109. University of the Philippines Manila Chorale
 

124. Las Piñas Boys Choir
 

157. Samiweng Singers (Ilocos Norte National High School)
 

185. Calasiao Children's Chorus
 

209. Coro San Benildo
 

221. Manila Chamber Singers
 

228. Young Voices of the Adventist University of the Philippines
 

497. St. Benedict Children’s Choir
 

593. Polytechnic University of the Philippines Laboratory High School Chorale
 

733. First Asia Minstrels
 

785. San Pascual Baylon Chamber Singers
 

785. Zamboanga Hermosa Chorale
 

920. Vox Viri
 

921. The Aquinas University of Legaspi Chorale

The world rankings are based on the following categories:

• Children’s and Youth Choirs
• Mixed Choirs
• Female Choirs
• Male Choirs
• Chamber Choirs and Vocal Ensembles
• Sacred Music
• Pop, Jazz, Gospel
• Folklore

For over 20 years, Interkultur has been holding world-class competitions that have been recognized as the most innovative events in the global choral scene.

The competitions strictly comply with standards of the "Musica Mundi," a group dedicated to arranging high calibre musical festivals and custom concert tours for musical ensembles worldwide.

The Musica Mundi website said it has "a reputation for providing a truly international world-class children's chorus festival has grown to become the standard by which all other festivals are measured."


World choir games

Meanwhile, in a news release sent to GMA News Online by Irvinne Redor, the official representative of the Interkultur event series in the Philippines, the following choirs participated in the recently concluded World Choir Games 2012 in Cincinnati (Ohio) in the United States last July:

• Miriam College High School Glee Club
• Category 3: Youth Choirs of Equal Voices - Category Winner (GOLD IV Diploma)
• Category 13: Musica Sacra - Category Winner (GOLD V Diploma)
• Philippine Kammerata Singers
• Category 7: Mixed Chamber Choirs - SILVER II Diploma
• Category 14: Music of the Religions - SILVER IV Diploma
• Samiweng Singers
• Category 13: Musica Sacra - SILVER MEDAL
• Category 3: Youth Choirs of Equal Voices - SILVER X Diploma
• Category 21: Folklore - Category Winner (GOLD IV Diploma)
• Zamboanga Hermosa Chorale
• Category 7: Mixed Chamber Choirs - SILVER IX Diploma
• Category 15: Musica Contemporanea - BRONZE IX Diploma
• Category 18: Spiritual - SILVER III Diploma
• Vox Viri
• Category 11: Male Chamber Choirs - SILVER MEDAL
• Category 15: Musica Contemporanea - SILVER MEDAL

Upcoming Interkultur events

Redor also said the Philippine choirs competing in two upcoming Interkultur events are:

1st Xinghai Prize International Choir Championships
(Guangzhou, Canton, China)

8-14 November 2012

• Calasiao Children's Chorus
• Coro San Benildo
• Novo Concertante Manila
• Muntinlupa Science High School Chorale
• Tarlac State University Chamber Choir, and
• Lipa Choral Ensemble
  

2nd Vietnam International Choir Competition
(Huế, Vietnam)

12-16 December 2012

• Adventist Glee
• Centro Escolar University Singers
• Department of Justice Chorale
• Iriga City Singing Ambassadors
• Mapua Cardinal Singers, and
• Saint Paul College Pasig High School Chorale

- Andrei Medina, VVP, GMA News

...the world's largest prenatal class

PHL sets world record for prenatal class

 

 

GMA News Online

17 October 2012


For its "Buntis Day" held last March 10, the Philippines has set a world record for having the world's largest prenatal class in multiple venues.

The Guinness World Records website credited the Philippine Obstetrical and Gynecological Society for the feat held seven months ago.

"The largest prenatal class held across multiple venues involved 13,047 participants in an event organised by the Philippine Obstetrical and Gynecological Society (Philippines) in a total of 52 locations, on 10 March 2012," it said. It said the classes took place simultaneously at 10 a.m. in 52 locations across the Philippines on "Araw ng Buntis" (Day of Pregnant Mothers).

GWR noted the event was organized to encourage more women to have prenatal checks.

"The largest event was held in the province of Cebu, were 1,896 pregnant women attended the class held at the Cebu International Convention Center," it said. — ELR, GMA News

...the Zuellig

Makati building grabs international attention

 

By Kim Arveen Patria

Yahoo! Southeast Asia Newsroom

17 October 2012

 

The Zuellig Building in Makati

 

Amid a construction boom that has seen high-rise buildings sprout all over Metro Manila, a development in Makati has grabbed the attention of an international real estate award-giving body.

The newly constructed Zuellig Building has made it to the top three in the "Best Office and Business Development" category of MIPIM Asia Awards.

This qualifies the 33-storey office building to vie for gold against two other shortlisted development: the Tianjin Global Financial Center in China and the 50 Connaught Road Central Building in Hong Kong.

The building, located at the intersection of Makati Avenue and Paseo de Roxas, was developed by Bridgebury Realty Corp. and designed by architecture firm Skidmore, Owings & Merrill LLP.

It is the first real estate development in the Philippines to be recognized by MIPIM.

"The Zuellig Building's commitment to environmental responsibility, its distinctive facade, and superior finishes will enable it to become Metro Manila's premier business location," MIPIM said in its website.

The building has also earlier been awarded a gold pre-certification under the "Leadership in Energy and Environmental Design" program of the U.S. Green Building Council.

The Zuellig is "the first 21st-century Premium Grade office building in the Philippines," MIPIM said further.

MIPIM (Le marché international des professionnels de l’immobilier) is a group of industry leaders which recognizes "excellence and innovation in Asian real estate development," the group's website showed.

A jury composed of experts met in July to shortlist three winners in 10 categories.

 

Aside from Best Office and Business Development, other categories are Best Hotel and Tourism Resort, Best Industrial and Logistics Development, Best Refurbished Building, Best Residential Development, Best Shopping Centre, Best Futura Project, Best Futura Mega Project, Best German Project and the Special Jury Award.

For the first time this year, MIPIM will also determine the winner of a People's Choice Award through online voting.

Results of the poll will meanwhile comprise 50 percent of the final scores of the shortlisted buildings, thereby determining the gold, silver and bronze winners.

...the 2012 Euromoney's Finance Minister of the Year

SECRETARY CESAR V. PURISIMA, 2012 FINANCE MINISTER OF THE YEAR

 

 

Editorial

October 16, 2012

Manila Bulletin

 

DEPARTMENT of Finance Secretary Cesar V. Purisima has been named “2012 Finance Minister of the Year” by leading global banking and finance magazine Euromoney for his “careful and successful stewardship” of the Philippine economy, and for his initiatives in promoting capital markets, both in the Philippines and in the Association of Southeast Asian Nations.

Euromoney is the flagship publication of business and financial publisher Euromoney Institutional Investor. It has been selecting a “Finance Minister of the Year” over the past 30 years to coincide with the World Bank/International Monetary Fund (WB/IMF) Annual Meeting. Selection is based on three factors: Opinions of a committee of Euromoney editors, views of world’s leading bankers, and analysis of over 400 global economist-contributors.

Secretary Purisima, who received the award during the week-long WB/IMF Meeting in Tokyo, which started October 11, 2012, said it is a recognition of the Philippines’ economic gains under the Aquino Administration. “This is a testament to how far the Philippine economic story has turned around under the leadership of President Aquino. The President’s unwavering commitment to good governance has brought significant gains to the Philippine economy,” he said. In 2011, Secretary Purisima was also named Finance Minister of the Year by the London-based financial news source, “Emerging Markets,” comprised of current financial news on emerging market trends and analysis in capital markets.

Secretary Purisima was appointed Finance Secretary by President Benigno S. Aquino III on June 29, 2010. He held the post previously in the Arroyo administration before he resigned in 2005. Before joining the government, he headed one of the country’s biggest auditing firms, Sycip, Gorres & Velayo. He was a member of the Global Executive Board and Global Practice Council of Ernst & Young, one of world’s Big Four accounting firms. He served in Land Bank of the Philippines, National Power Corporation, Monetary Board of the Bangko Sentral ng Pilipinas, Energy Development Corp., World Bank Group and International Monetary Fund. He is Governor for the Philippines in Asian Development Bank. He is Chairman of the Power Sector Assets and Liabilities Management Corp.

We congratulate Department of Finance Secretary Cesar V. Purisima for having been selected “2012 Finance Minister of the Year,” by the prestigious Euromoney Magazine. We wish him the best and success in all endeavors. CONGRATULATIONS AND MABUHAY!

...the "Boom"

Charice gets rave reviews for Hollywood film role

By Allan Policarpio
Philippine Daily Inquirer

October 16, 2012

CHARICE and Salma Hayek in “Here Comes the Boom” Photo from ZEIBIZ.COM

With the recent US release of her Hollywood film “Here Comes the Boom,” Filipina singer Charice has added yet another milestone to her career as an international artist.

Charice got positive feedback for her role as Malia de la Cruz—a music prodigy in the sports-comedy flick that opened on October 12.

Directed by Frank Coraci and anchored by lead stars Kevin James and Salma Hayek, the film is about James’ character Scott Voss, a 42-year-old biology teacher forced to moonlight as a mixed martial arts fighter to raise money for his school’s ailing music program.

In a review published on his website (www.themovieboy.com), Online Film Critics Society member Dustin Putman commended Charice’s acting: “She brings such honesty and emotion to the screen that one can’t help but care about her… Charice is a star in the making with a smile that could light up a New York City blackout.”

David Germain of The Associated Press said Charice “adds adorability as a bright and earnest student.”

“Here Comes” writer and producer James, who is Charice’s teacher in the film, raved about the petite Pinay’s performance of Neil Diamond’s “Holly Holy.” He told Colorado FM station Jammin’ 101.5 during the red carpet premiere in Denver: “My girl Charice rocks it. She’s unbelievable, you’ll see.”

Stressful audition
In an interview aired on the CBS talk show, “The Couch,” on October 10, Charice said her “Here Comes” stint was her “first-ever big role.”

The “X Factor Philippines” judge related how nervous she was during the auditions. “They suddenly gave me the lyrics to Neil Diamond’s ‘Holly Holy,’ and I was like, ‘What’s this song? This is the end of me!’” Luckily, Charice had composed herself by the time she met the film director. “I did it; they were teary-eyed.”

Asked how it felt, working with big stars like James and Hayek, Charice said: “I didn’t expect them to be that nice… and so sweet.”

The 20-year-old earlier guested on big US TV programs “The Oprah Winfrey Show” and “Ellen.” She appeared in three episodes of the second season of the hit TV musical “Glee” and landed a cameo singing role in the 2009 film “Alvin and the Chipmunks: The Squeakquel.”

...the peace pact

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...the Bwakaw's Oscar chance

‘Bwakaw’ Ranks Sixth In Oscar Predictions List

By ROWENA JOY A. SANCHEZ

October 13, 2012

Manila Bulletin

 

 

TIME magazine named ‘Bwakaw’ among the ‘10 Films To Watch’ at the New York Film Festival (Publicity photo)

 

 

MANILA, Philippines – The Oscar buzz for “Bwakaw” has just gotten louder. Apart from the positive citations it has received here and abroad, the film has also been ranked sixth in the Top Tier Contenders list by esteemed Oscar predictions website, Awards Circuit.

Among the 71 films submitted for selection in the Best Foreign Language Film category of the Academy Awards, the Jun Luna magnum opus is the sole Asian entry in the Top 10 of the predictions list. It’s just behind five European films namely “Amour” (Austria), “A Royal Affair” (Denmark), “Beyond The Hills” (Romania), “Barbara” (Germany), and “The Untouchables” (France).

“Fill The Void” from Israel is the only other Asian film that made it to the Top 15.

The Awards Circuit has seemingly acquired a soft spot for “Bwakaw,” one of the top winners at the 2012 Cinemalaya Philippine Independent Film Festival. In a review by Awards Circuit writer Joey Magidson published Sept. 25, “Bwakaw” got three-and-a-half stars for being a “delightful little dramedy” about an old gay man’s quest for love and unlikely friendship with a stray dog.

Magidson noted that "Bwakaw" was “terrifically acted (especially by lead Eddie Garcia), tenderly directed, and often laugh out loud funny while retaining a strong emotional core.” And although the film "doesn’t reinvent the genre… it does show just how good a movie of this sort can be when the right people are making it.”

“Bwakaw” has made rounds in a number of film festivals internationally, such as in Toronto as well as New York; later this month it will compete in Tokyo. It is likewise triumphant in critic circles, with rave reviews from The Hollywood Reporter, Film Society of Lincoln Center, Twitch Film, Variety, and an inclusion in TIME's “10 Films To Watch” at the New York Film Festival list.

Out of all the representatives for Best Foreign Language Film, only five will constitute the official nominees for the category. The nominees will be revealed on Jan. 10, 2013; the winners will be unveiled on Feb. 24

...the Filipino flash

Donaire retains title via TKO of Nishioka in 9th round

 

 

 

CARLO L. PAMINTUAN,

GMA News October 14, 2012

 

 

Nonito “The Filipino Flash” Donaire defended his WBO super bantamweight title via TKO of Toshiaki Nishioka of Japan in the ninth round of their IBF and WBO super bantamweight title and WBC diamond championship fight in Carson, California October 13, 2012 (October 14 Manila time).

The Filipino champ floored Nishioka of Japan in the sixth and ninth rounds to prompt the corner of the Japanese to call a halt to the bout.

Nonito Donaire (L) of the Philippines pummels Toshiaki Nishioka (R) of Japan during the sixth round of their IBF and WBO super bantamweight title and WBC diamond championship boxing match in Carson, California October 13, 2012. Donaire won by TKO in the 9th round. Reuters/Danny Moloshok

Donaire landed a good left to the body followed by a thunderous left uppercut to drop Nishioka in the sixth round. The Japanese fighter tried to mount a comeback in the seventh and eighth rounds but his aggression only gave Donaire more openings.

In the ninth round, Donaire landed a counter right straight to send Nishioka to the canvas again. The former WBC champion gamely got up from the knockdown but his corner stopped the fight
after Donaire landed another uppercut to a still wobbly Nishioka.

“I was catching him with
uppercuts early in the fight,” Donaire said after the fight. “He was afraid of the uppercut so he leaned back. That’s why I caught him with that right in the ninth.”

The Japanese fighter started the fight very slow. It looked like he was purposely letting

Palace congratulates Donaire on TKO win

Malacañang on Sunday congratulated Nonito “The Filipino Flash” Donaire for his ninth-round technical knockout win over Japan’s Toshiaki Nishioka.
Deputy presidential spokesperson Abigail Valte said Donaire’s win solidified the Filipino boxer’s place in the international scene.
“Na-solidify ang pwesto ng Filipino boxer sa international scene when it comes to boxing, hindi lang si Manny Pacquiao," she said on government-run dzRB radio.
Donaire’s win in Carson City in California allowed him to keep his International Boxing Federation and World Boxing Organization super bantamweight crowns.
An article posted on boxing site Bad Left Hook said Donaire stopped Nishioka in the ninth round after having won every round up to that point. — LBG, GMA News Read more

Donaire do most of the work early on, hoping that the Filipino would punch himself out.

But that opportunity never came for Nishioka. Donaire used his distinct speed advantage, both with his punches and his movement, to dominate Nishioka.

It was a disappointing outing from the Japanese fighter who waited for over a year for the
opportunity to fight Donaire.

The Filipino finally had his breakthrough fight this year. The Filipino Flash last scored a stoppage victory way back in February of 2011. His last three fights have all ended with a decision.

After the fight, Donaire admitted that he was also weary of Nishioka’s power. “We know that
this fight could end at any moment. We both had power,” he said. “If I made a mistake, I know
he’ll capitalize on it, that’s why we were so focused.”

Donaire shows an opened knuckle in a photo posted on Twitter after his victorious bout with Nishioka in California. Photo from Donaire Twitter post

With his big win, Donaire bumped his record to 31 wins with only one loss, with 19 of his wins
coming via the short route. Nishioka on the other hand drops to 39 wins, five losses, and three draws.

After his ward’s big victory, Top Rank’s Bob Arum confirmed that Donaire will next fight the
popular Jorge “Travieso” Arce next in Mexico City.

Donaire posted a picture of his bleeding left hand after the fight. “Gna get stitched up. This was opened during sparring and I knew it was gna open up during the fight. Ima take the rest of the year off,” wrote Donaire. — LBG/HS, GMA News

...the contemporary PH arts

Buyers snap up works of PH artists

Speculators see upside in value of Philippine contemporary art

By Tina Arceo-Dumlao
Philippine Daily Inquirer

Saturday, October 13th, 2012

Jose Joya’s 1957 “Untitled (Abstract)” sold for P1,868,800.

During the Important Philippine Art auction held by Salcedo Auctions on Sept. 22, Anita Magsaysay-Ho’s 1950 oil painting “Lady with Guitar” sold for P6.307 million, a whopping 425 percent over the painting’s estimated value of P1.2 million to P1.4 million.

Ronald Ventura’s “Burnout”, meanwhile, topped the estimate by an even higher margin of 569 percent. The 2005 oil on canvas with collage sold for a hefty P5.022 million, far exceeding the estimate of between P750,000 and P850,000 for the piece measuring 90.7 centimeters by 60.7 centimeters.

According to Karen Kua-Lerma, president of Salcedo Auctions, the “tremendous upsurge” in the prices that both foreign and local buyers are willing to pay for Philippine art indicated the growing reputation of Philippine artists in the international art scene, as the country’s own image abroad has improved dramatically since the Aquino administration took over in 2010.

Nena Saguil’s 1956 “Paris at Night” fetched P759,200.

 

“It was not so long ago when news of a painting by a Filipino artist selling for P3 million was such a big deal. But now prices are rising and there seems to be no end to the increase,” says Karen, who put up Salcedo Auctions with husband, Ramon, in February 2010.

Karen points out that, apart from Filipinos who are either long-time art collectors or are looking to put a stamp on their growing wealth by collecting pieces of art, many foreigners also participated in the auction last Sept. 22.

Anita Magsaysay Ho’s “Lady with Guitar” (1950) went for P6,307,200.

Most foreign and local buyers collect these pieces with the hope that they will appreciate significantly in value down the road—much like how investors put their money in stocks with the intent of selling them later at a significant premium.

For these speculators, contemporary art pieces by young artists such as Ventura and Jose John Santos III are attractive because these present the best chances of appreciating significantly in value in just a few years.

Ramon, who is advisor of Salcedo Auctions and chief curator of the Ateneo Art Gallery, explains that these exponents of contemporary art are interesting to collectors because the prices they command are not yet fixed, and are in fact trending higher.

He compares them to speculative stocks on the Philippine Stock Exchange. There is great risk in purchasing these stocks issued by companies whose track record still needs to be tested. But they also promise the highest reward when and if their potential is unleashed.

 

An art enthusiast Ronald spent P5,022,400 to acquire Ronald Ventura’s “Burnout” (2005).

The works of National Artists, on the other hand, are more like the so-called blue chip stocks. The prices are set, appreciation is slow, but there is also very little risk of prices plummeting since there is general agreement on how much the art pieces are worth.

During the auction, for example, the 1957 piece of National Artist Jose Joya was sold for P1.868 million, not far from the high end of the 57.2 cm by 86.4 cm oil painting’s estimated value of P1.2 to P1.5 million.

Ramon explains that there are no hard and fast rules when it comes to putting a value to a piece of art as there are many factors that come into play, not the least of which is taste.

“Besides what the art piece represents, people are also looking at credentials. Ronald Ventura, for example, did not just pop out of the woodwork. He is critically acclaimed and he has won a number of awards,” says Ramon.

 

Mauro Malang Santos’ oil on canvas, “Still Life with Vase and Flowers” (1980), was sold for P934,400.

The value of the artwork of contemporary artists, he says, is mainly created by four art advocates. These are the institutions that give out awards or museums that mount exhibits; the commercial art market, or the galleries and auction houses that sell the pieces; reputable private collectors and finally the art critics.

The value, however, is ultimately decided by the buyer.

“You cannot really put a peso sign on the beauty. Ang Kiukok’s work used to shock people because of the angst and the subject matter. But now his art is called beautiful. There is a consensus among these advocates that his art is good,” says Ramon.

Ramon stresses, however, that the prices of contemporary art are also being driven by the global appetite for contemporary art that people want to keep in their homes, and not just sell to the highest bidder.

“Conversations” (2005) by Jose John Santos III was sold for P3,036,800.

“Globally, the appetite for contemporary art started growing in 2005. With the Internet and globalization, and with more people traveling, collectors now want to buy works from overseas and not just collect work done in their own countries,” says Karen.

Veteran and neophyte Filipino collectors are not far behind in the art collection scene, and they see their purchases of local art pieces by both the young and established artists as a vote of confidence in their own country.

“These young artists represent dynamism and confidence in this emerging economy. And how better to represent that emergence in the global scene than an artist selling well?” says Ramon.

There is also equally strong demand for works by established artists from Filipino buyers because they see these pieces as representations of Philippine heritage and culture. By buying a piece of art, they also get a piece of Philippine history.

“Many Filipinos see the purchases as a vote of confidence in the country, and the interest reflects the bullish sentiment prevailing in the country today,” he adds.

“For Philippine artists, this is a great time,” Ramon says.

...the AsPac filmfest nominees

A first for Filipino films: 3 nods in Asia-Pacific awards

Nominees are ‘happy, proud’ for country

By Bayani San Diego Jr.
Philippine Daily Inquirer

October 14, 2012

NORA Aunor and Brillante Mendoza on the set of “Thy Womb” in Tawi-Tawi.

The three nominations the Philippines received in this year’s Asia-Pacific Screen Awards (APSA) signify that the country remains a strong contender in the international scene, said Filipino filmmaker Brillante Ma. Mendoza.

Brillante was nominated for best director for his Venice entry “Thy Womb,” whose lead star Nora Aunor is in the running for best actress. Scriptwriter Chris Martinez, meanwhile, is vying for best screenplay for “Ang Babae sa Septic Tank.”

Mendoza, who was in Ghent, Belgium, for a screening of “Captive” at the time of the announcement of nominations last Friday, told the Inquirer via SMS: “After having at least nine diverse films at the Busan fest (in South Korea), we got three nods in the region’s top awards. This clearly proves that the country will continue to have a strong presence in world cinema. I’m proud and happy to be the first Filipino director to be recognized by the APSA in that category.”

According to its website, the APSA, which was founded in 2007, seeks to “recognize and promote cinematic excellence and cultural diversity (in) the vast Asia-Pacific region … and is considered as the region’s highest accolade in film.”

This year’s APSA awards ceremony will be held in Brisbane, Australia, on November 23.

Among the best

In 2008, Ishmael Bernal’s “Himala,” which starred Aunor, won the CNN APSA Viewers’ Choice award for Best Asia-Pacific Film of All Time.

“These nominations are a source of pride for our country and countrymen,” Aunor said in Filipino.

 “All these recognitions of the work and art of Filipinos are important. My nomination comes four years after ‘Himala’ won and it inspires me to work even harder. It warms my heart, especially since the honor comes from our fellow Asians.”

“I feel more than validated,” said screenwriter Martinez, who was earlier nominated for the same script at the Asian Film Awards in Hong Kong. “These nominations prove that our films and artists are among the best in the region.”

Martinez hopes the citation will highlight the contributions of writers in local cinema. “Every great movie starts with great writing. It’s my wish that the industry would give more importance to the written word. It’s time screenwriters stop being invisible.”

Martinez said that the entire “Septic” team—including actress Eugene Domingo and director Marlon Rivera—are “praying hard that we win.”

Not just poverty

Joji Alonso, “Septic” producer, said that the nods “call attention to the country … that there is so much talent here, just waiting to be tapped. It also shows that there are other stories, apart from poverty, that we can share with the world.”

The APSA citations prove “that there is still hope for the local film industry. That, if only we could all go out of the box, we would reach our prime much faster,” said Alonso.

Alonso noted that when she first read the “Septic” script, she instantly knew that it would go places.

“It’s both real and surreal.”

Martinez said that “Septic” has been making the rounds of international film fests “for over a year now. It will also be released theatrically in German- and French-speaking countries soon.”

After its Venice, Toronto and Busan screenings, “Thy Womb” will compete in Goa, India, in November and in Dubai in December, Mendoza said. It will have its Austrian premiere at the Vienna fest on October 25 and will be shown in local theaters on November 28.