Tag: Festival Mall

Commercenter announces March 15, 2025 closure of its cinemas, promises something new coming

Commercenter announces March 15, 2025 closure of its cinemas, promises something new coming

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Commercenter, the nice sprawling shopping mall located in Filinvest City in Alabang, Muntinlupa, recently announced via social media that its 4-screen cinemas will be closing on March 15, 2025 and still they promised something new is coming.

To put things in perspective, posted below is the entire social media post announcement by Commercenter. Some parts in boldface…

To our amazing moviegoers, thank you for every laugh, tear, and unforgettable moment we’ve shared at Commercenter Cinema over the years. ❤️🎬 Your presence and memories will always be part of our story, and we’re beyond grateful for the journey.

While our curtains will officially close on March 15, this isn’t the end. Something exciting is on the way to Commercenter and we can’t wait to share it with you. Stay tuned! 😉✨

For transparency, posted below is the screenshot of one of the images that came with the social media post of Commercenter.

For the newcomers reading this, the cinemas of Commercenter opened in the late part of 2014 and its cinemas each had nice and comfortable seats with a good sound system and screen. Each cinema has over a hundred seats to accommodate moviegoers.

I myself saw lots of movies at Commercenter from 2014 to 2023 (note: I have not seen movies inside any cinema for 2024). While I cannot recall all the films I saw inside the cinemas of the sprawling mall, I saw the following there: Sound of Freedom (read my movie review by clicking here), Wonder Woman (my review here), The Hobbit: The Battle of the Five Armies, Write About Love (my review here), Rogue One: A Star Wars Story, Deadpool, Deadpool 2, Star Wars: Episode VII – The Force Awakens, X-Men: Apocalypse, Avengers: Age of Ultron, Avengers: Infinity War, Avengers: Endgame, Batman v. Superman: Dawn of Justice, Aquaman, Terminator: Dark Fate, The Batman, Jurassic World, and Godzilla: King of the Monsters (my review here) to name some.

The last movie I saw at Commercenter was Sound of Freedom.

In my experience, watching movies inside Commercenter was fun and comfortable. The mall is a short drive away from home and there are nice restaurants and stores inside. After watching a movie, I could enjoy a meal at Sigekiya Ramen or at The Black Pig or at Akrotiri, have coffee at The Coffee Syndicate or at The Bingsu. Or buy a snack at ASSI Fresh Plaza.

As such, it is really saddening to learn that Commercenter’s cinemas will be closing down soon. I can only speculate that not enough moviegoers in this post-pandemic age could support the cinemas of the mall and not enough private groups booked the cinemas for their events or gatherings. It seems to me that streaming – which became the new standard of watching movies since the COVID-19 pandemic – is a factor as well. Lastly, Commercenter charged P400 per ticket for foreign movies which is quite expensive for local moviegoers.

By adding Commercenter’s closing cinemas to the already closed old original cinemas of nearby Festival Mall, that would combine to a total of fourteen closed screens/cinemas. Festival Mall still has its 4-screen modern cinemas while Alabang Town Center’s cinemas are still operating. Without Commercenter as a movie venue, people living within Filinvest City and in the nearby communities will have to visit ATC and Festival Mall for the movie theater experience within Alabang.

The cinemas area at the 2nd floor of Commercenter.

Let me end this post by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City who frequently saw movies at Commercenter, how do you feel about the March 15 closure of the cinemas? If you could still remember, how many movies were able to watch at Commercenter in all? What was the most memorable cinematic moment you had inside Commercenter’s cinemas? What could be the new thing Commercenter promised?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Opening of DFA-NCR South Consular Office inside Festival Mall commended by Muntinlupa Mayor

Opening of DFA-NCR South Consular Office inside Festival Mall commended by Muntinlupa Mayor

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Recently in the progressive City of Muntinlupa, the permanent Consular of the Department of Foreign Affairs (DFA) was formally opened inside Festival Mall in Filinvest City, Alabang, and it was commended by Mayor Ruffy Biazon as the facility’s many services will be helpful for the local residents and those from other cities, according to a Manila Bulletin news report.

To put things in perspective, posted below is an excerpt from the Manila Bulletin news report. Some parts in boldface…

Muntinlupa Mayor Ruffy Biazon commended the opening of the permanent Consular Office of the Department of Foreign Affairs (DFA) at Festival Mall in Alabang.

Biazon attended the opening of the DFA Consular Office National Capital Region-South located at the third floor of the mall’s east wing.

Also present during the opening ceremony were Ambassador Joseph Yap, DFA Office of Consular Affairs Assistant Secretary Adelio Angelito Cruz, and Filinvest Land president and CEO Tristan Las Marias.

“Available dito ang primary services tulad ng document verification and authentication at passport issuance, among others. Spacious, bright, at convenient din ang bagong office—hindi lang para sa Muntinlupeños kundi pati sa ating mga kababayan from nearby cities and provinces (Primary services such as document verification and authentication and passport issuance, among others, are available here. The new office is spacious, bright, and convenient—not only for Muntinlupeños but also for our countrymen from nearby cities and provinces),” the mayor posted on Facebook.

Biazon said, “this office is more than just a facility. It’s a gateway of dreams para sa lahat ng Pilipinong nagnanais makabisita, makapag-aral, o makapagtrabaho sa ibang bansa (It’s a gateway of dreams for all Filipinos who wish to visit, study, or work abroad).”

Cruz said the DFA-NCR South Consular Office will serve “as the mini-OCA Aseana and DFA outpost.”

He said the Alabang office will provide “consular services that cover first time passport applications, passport renewals, authentication, and Assistance-to-Nationals (ATN).” 

The first passport applicant at the DFA-NCR South office was a 67-year-old man who applied for his very first Philippine passport. He said he applied for a passport so he can visit his child in California.

Let me end this post by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City, do you think the upcoming STI Academic Center Alabang will make a positive impact on local society as well as on families looking for schools to have their children enrolled in?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Ownership of Festival Mall transferring to Filinvest REIT Corporation (FILRT) for over P6 billion

Ownership of Festival Mall transferring to Filinvest REIT Corporation (FILRT) for over P6 billion

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Have you been to Festival Mall in Alabang lately? Some things might change in the near future as the ownership of the shopping and lifestyle mall (first opened in May 1998 as Festival Supermall) is being transferred by the Gotianun Group to Filinvest REIT Corporation (FILRT) in a deal worth more than P6 billion, according to a Manila Bulletin business news report.

To put things in perspective, posted below is the excerpt from the Manila Bulletin business report. Some parts in boldface…

The Gotianun Group is transferring ownership of its flagship Festival Mall-Main Mall in Filinvest City, Alabang, Muntinlupa City to Filinvest REIT Corporation (FILRT) in a P6.26 billion deal that marks the real estate investment trust’s entry into the retail leasing business.

In a disclosure to the Philippine Stock Exchange, Filinvest Land Inc. (FLI) said it is selling the 26-year-old Festival Mall to FILRT in exchange for 1.63 billion FILRT shares at an issue price of P3.85 per share under a tax-free property-for-share swap transaction.

“The transaction fulfills FLI’s commitment as the sponsor of FILRT to continually support the growth and expansion of its REIT portfolio through the infusion of high-quality income-generating real estate assets,” FLI said.

It added that, upon the Securities and Exchange Commission’s (SEC) approval of the transaction, FLI and FILRT shall execute a lease agreement for the building.

In a separate disclosure, FILRT said the issue price represents a 30 percent premium over the 30-day volume weighted average price of P2.94 per FILRT share, and falls within the fair value price range provided by FTI Consulting’s Fairness Opinion and LeeChiu Property Consultants, Inc.’s Valuation Report.

The property was appraised by Leechiu Property Consultants, and a fairness opinion was provided by FTI Consulting. A discounted cash flow (DCF) approach was used as the primary method to determine the value of the property.

Under the DCF approach, the future cash flows of the property were discounted using a weighted average cost of capital (WACC) based on a capital asset pricing model. A direct capitalization approach was also used as a secondary reference for the valuation of the property.

For the valuation of the shares, FTI Consulting used various methodologies such as the DCF approach, a dividend discount model, and a comparable public companies’ method, to arrive at a range of values for the fair value of FILRT shares.

The primary common shares to be issued by FILRT to FLI will come from the unissued common shares of FILRT. This will be subject to the approval by FILRT’s shareholders and regulatory approvals.

Upon the SEC’s approval of the transaction, FLI and FILRT shall execute a lease agreement for the property.

“Pursuant to the approval of the transaction, the Board approved the conduct of a special stockholders’ meeting (SSM) to be held on March 4, at 10:00 AM. The record date for the determination of stockholders entitled to notice and right to vote at the SSM is February 10, 2025,” the firm said.

FILRT’s diversification into mall leasing comes after its expansion into the hospitality space with the acquisition of 2.9 hectares of land owned by Filinvest Development Corporation (FDC) in Boracay Island for P1.05 billion in cash.

The land is being leased by Boracay Seascapes, Inc. (BSI), the building owner of Crimson Resort & Spa Boracay and a subsidiary of FDC.

FILRT President and CEO Maricel Brion-Lirio said this is the company’s first asset infusion since its initial public offering and “not only increases the distributable income to our shareholders in the immediate term but also supports our goal of delivering stable dividends and increasing the potential for capital appreciation in the longer term.”

Let me end this post by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City who happens to be a frequent visitor or shopper of Festival Mall, do you think the incoming, new owners will be able to make improvements on the mall somehow? Do you hope that the original cinemas of Festival Mall will get renovated and reopened with the latest cinema technologies in the future?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Have you been to X-Site amusement center inside Festival Mall lately?

Have you been to X-Site amusement center inside Festival Mall lately?

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In times of prosperity or hardship, Festival Mall (originally named Festival Supermall) in Filinvest City, Alabang, Muntinlupa City continues to attract families and shoppers. Since the mall’s early days in 1998, its amusement center X-Site kept on succeeding on attracting visitors and providing them bouts of varied fun in return to what the customers paid for. X-Site is a lively form of entertainment-focused capitalism that just keeps on moving forward and attracting visitors.

Located at the 3rd floor (note: officially referred to as the 2nd Level or 2L or 2nd Floor by the mall. The 1st floor and 2nd floor of the mall are referred to as Lower Ground Floor and Upper Ground Floor respectively), the X-Site Amusement Center has a wide floor space with a high ceiling.

The way it was designed, X-Site has several arcade games (lots of fun retro games included), merchandiser games, a virtual reality ride, KTV booths, motion-sensing dance spot, the ring toss, entertainment stores, indoor sports games, redemption games, bumper cars, and the indoor roller coaster (which explains the need of having a high ceiling). Watch below the YouTube video and the images I prepared below.

At the arcade games section inside X-Site.
Having a high ceiling made it possible to have an indoor roller coaster (tracks above the machines and people in this image). Other amusement centers in Alabang had lower ceilings which made their places feel small or tight when compared to X-Site.
Some newer machines plus indoor sports games added into the arcade games section.
This is the place for those who love dancing and music.

When I was much younger and Festival Mall was still new, I played lots of games at the arcade of X-Site. Elevator Action Returns, Tekken 2, Tekken 3, Marvel vs. Capcom: Clash of Super Heroes, Street Fighter Alpha 3 and Tekken Tag Tournament were some of the games I played there as far as I could remember. I never rode the indoor roller coaster because my fondness for roller coasters had faded away even before Festival Mall opened its doors (May 1998).

Back in 1998, I know a few friends whose had not even visited Festival Mall (at the time we talked) yet they already heard of the positive word-of-mouth feedback about the indoor roller coaster of X-Site.

The indoor roller coaster of X-Site remains a favorite ride for those who kept coming back.

On December 25, 2023, I visited Festival Mall to look around. I passed by X-Site and I saw an unusually large number of people there composed of young people, children and their parents/guardians.

For the newcomers reading this, December 25 here in the Philippines is a time of having fun during the Christmas season and also it is the day when the annual Metro Manila Film Festival (MMFF) opens in cinemas. This explains why a lot of people spend time at the shopping malls and it is a cultural thing here in the Philippines.

Considering the fact that the original cinemas of Festival Mall have deteriorated leaving only 2 or 3 screens operating (note: the mall also has modern cinemas at the expanded side), a lot of people still visited the mall to watch the MMFF movies that opened on December 25. As for the large number of people who flocked to X-Site that same day, I can only speculate that some of them might have been moviegoers passing the time as they wait for the next screening of movies to watch.

I took this shot of X-Site on December 25, 2023. Look at the high number of people on the floor.

If you plan to visit Festival Mall in Alabang and if you are craving for fun rides or games, then you might want to visit X-Site Amusement Center.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Over P1 billion deposited through BSP’s coin machines

Over P1 billion deposited through BSP’s coin machines

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A major breakthrough has been realized with regards to recirculating massive amounts of loose change in the Philippines as more than P1 billion in coins have officially been deposited into the coin deposit machines (CoDMs) of the Bangko Sentral ng Pilipinas, according to a GMA Network news report.

To put things in perspective, posted below is an excerpt from the GMA news report. Some parts in boldface…

Over a year since the launch of coin deposit machines (CoDMs), the monetary value of coins deposited through the Bangko Sentral ng Pilipinas’ (BSP) initiative to promote coin circulation has breached P1 billion.

In a statement on Thursday, the BSP said the total value of coins which coursed through CoDMs has reached P1,008,889,490.24.

The CoDMs, introduced in June 2023, were launched in a bid to encourage the public to make use of their idle coins.

The BSP said that since its launch, the CoDMs have accumulated more than 260,000,000 pieces of coins and facilitated almost 240,000 transactions.

Through CoDMs, people can place legal tender coins in the machines, with the total value credited to e-wallet accounts in GCash or Maya, GoTyme bank accounts, or converted into shopping vouchers.

As of this writing, the BSP’s coin deposit project website has yet to have the latest numbers published. Previously, the official numbers were P950,361,380.76 in overall value, 250,352,704 coins counted and 228,482 transactions registered as of September 15, 2024. You can read my September 26, 2024 post by clicking here.

Let me end this piece by asking you readers: What is your reaction to this recent development? Have you deposited your loose change into a BSP coin deposit machine in your locality during the past sixty days?  

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

More than P950 million deposited through BSP’s coin machines

More than P950 million deposited through BSP’s coin machines

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Almost a billion Pesos worth of coins have been deposited through the many coin deposit machines (CoDMs) of the Bangko Sentral ng Pilipinas (BSP) as of September 15, 2024, as published on their website.

Based on the latest statistics, a total of  P950,361,380.76 (14.26% higher than the previous count of P831,774,151.23) in coins got deposited into BSP machines on  228,482 transactions (13% higher than the previous count of 202,110 transactions) from customers. In terms of physical quantity, 250,352,704 in coins were deposited. The previous count of deposited coins was 223,021,306

Doing the math on the latest statistics, customers averaged P4,159.46 per transaction (versus the previous count of P4,115.45 per transaction) at the machines. As for the grand total Peso amount divided by the number of coins deposited, the average is P3.7961 per coin deposited (versus the previous average of P3.7296 per coin deposited).

When it comes to the number of coins involved with each transaction, 250,352,704 coins divided by 228,482 transactions resulted in an average of 1,095.72 coins per transaction. This result shows that a lot of people out there are making big deposits by the jars and bags at the coin deposit machines.

Let me end this piece by asking you readers: What is your reaction to this recent development? Does your household or your local business still have plenty of loose change that you could possibly deposit into the nearest BSP coin deposit machine? Are many members of your local community aware that they can deposit their excessive coins into BSP coin deposit machines so that they can money into their respective GCash accounts?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

FOR LEASE – A Spacious Condominium Unit at The Mondrian Residences in Filinvest City, Alabang

FOR LEASE – A Spacious Condominium Unit at The Mondrian Residences in Filinvest City, Alabang

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If you are looking for a spacious, furnished condominium within Alabang, we have one of 6 units only at the upper floor of The Mondrian Residences in Filinvest City available for lease. The Mondrian Residences is located at 5321 East Asia Drive, Filinvest City, Muntinlupa City.

The Mondrian Residences up close. Its building is very visible for those traveling along Commerce Avenue in Filinvest City.

At 93 sqm, it has one large bedroom, 3 bathrooms, living room with sofa, chairs and tables, kitchen with cooking equipment, one basement parking slot and 2 terraces overlooking Commercenter, Westgate and Alabang Town Center.

Residential facilities of The Mondrian Residences include a jacuzzi, a fitness center, function rooms, owners’ lounge, passengers’ elevators and service elevators. 24/7 security service, reception service, building maintenance and valet service are guaranteed. If you own a car, you can avail of the dedicated basement parking space that goes with the unit.

The Master’s Bedroom with indoor aircon, a balcony and view outside.
The living room with enough space for dining.
The view from the terrace of the unit.
The kitchen with refrigerator, microwave, toaster oven and cooking unit. At left is the main door.
The Mondrian Residences at night time.

The Mondrian Residences is strategically located in close proximity to office buildings, restaurants, hotels, coffee shops, banks, ATMs, the Filinvest City Central Park, movie theaters, shopping malls, gas stations, convenience stores, car dealers and groceries. This means that living in the unit is convenient for your job, your needs and your lifestyle.

Living at the The Mondrian Residences is peaceful as crime rarely happens in Filinvest City. At the same time, Filinvest City is a popular destination for fitness buffs and people who enjoy the open air surroundings with trees.

If you are interested to visit and see the unit, please send me a private message or call me at 09053350831.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Better than Streaming: Amusement tax will not be imposed on Filipino films in Muntinlupa City for the next 3 years

Better than Streaming: Amusement tax will not be imposed on Filipino films in Muntinlupa City for the next 3 years

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Welcome back, fellow geeks and movie buffs!

Recently in the City of Muntinlupa, the City Government approved an ordinance establishing a moratorium on the collection of the amusement tax on Filipino films (note: movies produced by Philippine companies/organizations) within the city for the next three years, as reported by the Manila Bulletin. The ordinance was signed into law by Mayor Ruffy Biazon.

In short, local companies here in the Philippines whose films are shown in theaters within the jurisdiction of Muntinlupa City could earn more as the amusement tax won’t be imposed for most of the year for the next three years while the cinema operators themselves can benefit along the way.

I say most of the year because the moratorium does not cover the time period of December 25 to January 7 which is precisely the time when the annual Metro Manila Film Festival (MMFF) happens.

To put things in perspective, read the excerpt from the Manila Bulletin news report posted below. Some parts in boldface…

Muntinlupa Mayor Ruffy Biazon and the City Council approved an ordinance granting a three-year moratorium on the collection of amusement tax from Filipino films in the next three years.

The Muntinlupa City Council passed and Biazon signed Ordinance No. 2024-229 “Declaring Moratorium on the Collection of Amusement Tax for Filipino Films in the City of Muntinlupa from January 08 to December 24 of every year for the next three (3) years.“

Under the existing Local Government Code, “The province may levy an amusement tax to be collected from the proprietors, lessees, or operators of theaters, cinemas, concert halls, circuses, boxing stadia, and other places of amusement at a rate of not more than ten percent (10%) of the gross receipts from the admissions fees.”

In February, the Metro Manila Council adopted the Metropolitan Manila Development Authority (MMDA) Resolution No. 24-11 “Declaring a Moratorium on the Collection of Amusement Tax for Filipino Films in Metro Manila from January 08 to December 24 of Every Year for the Next Three Years.”

In the Muntinlupa ordinance, it was stated that the MMDA resolution “was adopted to recognize the importance of the local film industry in promoting cultural and economic development and in response to the appeal of the local filmmakers to boost the film industry after the impact of the COVID-i9 Pandemic on the production and exhibition of Filipino Films, and the dominance of foreign films.”

Under the ordinance, all cinemas in Muntinlupa can avail of the moratorium on the collection of amusement taxes for Filipino films from Jan. 8 to Dec. 24 of every year for the next three years.

When it comes to the state of cinemas within Muntinlupa City, Commercenter has four screens and I noticed over the past two months that only 2 or 3 were operating during my visits there. Over at Festival Mall, their 4-screen modern cinemas are fully operating but their original cinemas (located several feet away by foot on the same floor) are still dark and depressing as only 2 or 3 screens (out of ten screens) were operating almost all the time.

As for the cinemas in Alabang Town Center, they seem to be operating normally and continue to attract a steady amount of moviegoers.

Going back to the approved moratorium, it remains to be seen if it could lead to a potential reduction of ticket prices in relation to Filipino movies within Muntinlupa. Even if ticket prices get reduced, would it be enough to convince people to come to the Muntinlupa cinemas and buy tickets for the cinematic experience. There is also the factor of the quality of Filipino movies showing in Muntinlupa movie theaters plus the factor of foreign movies.

As a resident of Alabang who saw lots of movies in the local cinemas, I noticed that Muntinlupa City is lacking when it comes to hosting film festivals (note: the annual MMFF does NOT count). Special events about movies focusing on variety, quality and artistry being held in Muntinlupa can help cinema operators attract moviegoers as well as the enthusiastic film buffs.

Perhaps the City Government or barangays could someday organize a special event of short films made by Muntinlupa-based filmmakers and have such films screened in local cinemas. Organizing another film festival showcasing films by independent filmmakers from around the country and having them screened in theaters within the city could help too.

Still on the topic of Filipino movies, when will the time come when the major local movie producers will have premieres of their new movies held in cinemas here in Muntinlupa and give locals the chance to see their favorite movie stars in person?

Let me end this post by asking you readers: What do you think about the 3-year moratorium approved by the City Government of Muntinlupa? Do you think that cinemas in Muntinlupa are losing money? Do you think the newly approved moratorium could be disadvantageous to the City Government in terms of revenue?

If you wish to join a group of movie enthusiasts and talk about cinema, visit the Movie Fans Worldwide Facebook group at https://www.facebook.com/groups/322857711779576

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

More than P831 million deposited through BSP’s coin machines

More than P831 million deposited through BSP’s coin machines

carlocarrasco

More than P831 million worth of coins have been deposited through the many coin deposit machines (CoDMs) of the Bangko Sentral ng Pilipinas (BSP) as of July 15, 2024, as published on their website.

Based on the latest statistics, a total of  P831,774,151.23 (6.1% higher than the previous month’s count of P783,628,810.29) in coins got deposited into BSP machines on 202,110 transactions (5.4% higher than the previous month’s 191,804 transactions) from customers. In terms of physical quantity, 223,021,306 in coins were deposited. The previous count of deposited coins was 211,689,731.

Doing the math on the latest statistics, customers averaged P4,115.45 per transaction (versus the previous month’s P4,085.57 per transaction) at the machines. As for the grand total Peso amount divided by the number of coins deposited, the average is P3.7296 per coin deposited (versus the previous month’s average of P3.7018 per coin deposited).

Let me end this piece by asking you readers: What is your reaction to this recent development? Were you able to deposit your excess coins into a BSP coin deposit machine in your locality recently? Has the BSP coin deposit machine near your been breaking down a lot in recent times?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

More than P783 million deposited through BSP’s coin machines

More than P783 million deposited through BSP’s coin machines

carlocarrasco

Over P783 million worth of coins have been deposited through the many coin deposit machines (CoDMs) of the Bangko Sentral ng Pilipinas (BSP) as of June 23, 2024, as published on their website.

Based on the latest statistics, a total of  P783,628,810.29 (10.7% higher than the previous month’s count of P707,661,554.41) in coins got deposited into BSP machines on 191,804 transactions (9.8% higher than the previous month’s 174,656 transactions) from customers. In terms of physical quantity, 211,689,731 in coins were deposited. The previous count of deposited coins was 193,901,254.

Doing the math on the latest statistics, customers averaged P4,085.57 per transaction (versus the previous month’s P4,051.74 per transaction) at the machines. As for the grand total Peso amount divided by the number of coins deposited, the average is P3.7018 per coin deposited (versus the previous month’s average of P3.6496 per coin deposited).

Let me end this piece by asking you readers: What is your reaction to this recent development? Were you able to deposit your excess coins into a BSP coin deposit machine in your locality recently? How long did you have to wait in line before depositing your coins at the BSP machine?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673