shopping mall – Page 2 – Author Carlo Carrasco

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

February 4, 2025January 27, 2025carlocarrasco

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

What to watch on YouTube right now – Part 46

December 18, 2024December 12, 2024carlocarrasco

Welcome back, my readers, YouTube viewers and all others who followed this series of articles focused on YouTube videos worth watching. Have you been searching for something fun or interesting to watch on YouTube? Do you feel bored right now and you crave for something to see on the world’s most popular online video destination?

I recommend you check out the following topics and the related videos I found.

#1 American shopping malls could solve the nation’s housing problems? – It is no secret that there is a shortage on housing in the United States. In recent times, there is a trend that sounds unbelievable at first but it is indeed happening – the conversion of certain shopping malls into new residential places. You have to watch the CNBC video below to find out more. Perhaps you want to check if the failing shopping mall near you is being converted into new housing for your community.

#2 Japanese RPGs with mature stories – Role-playing games made by Japanese game developers always have stories to tell regardless of the types of game design and gameplay features that were made. There are JRPGs with fantasy tales that were inspired by other works of the genre while other tales were made to be original by their respective game developers. From time to time, developers come up with stories that can be described as mature. To find out what I mean, I encourage you to watch the video by Gaming Broductions below.

#3 Slope’s Game Room examines the legacy of Paperboy – Among all the arcade games I played inside Circus Circus Hotel in Las Vegas in 1989, Paperboy was the one that stood as the most memorable. The game was a lot of fun and its presentation was also humorous in a cartoony way. Then there was also the bicycle handle the arcade machine had for controlling my character. By today’s standards, it is unlikely you will find an existing and working machine of Paperboy in your local arcade. If you are a newcomer and you want to learn more about the origin and impact of the Paperboy game franchise, watch the video by Slope’s Game Room.

#4 A look back at 2001’s Swordfish – Hollywood today keeps on making sub-par action movies because a lot of filmmakers as well as production teams are obsessed with identity politics and woke garbage. Not only are there woke and Leftist activists among Hollywood’s workers, there are private investors funding film projects with DEI (Diversity, Equity and Inclusion). That being said, it is more entertaining to watch action movies from the pre-woke era of Hollywood and among them is Swordfish (2001) which starred John Travolta, Hugh Jackman, Don Cheadle and Halle Berry. The film is not exactly a gigantic blockbuster nor was it an action genre classic. In fact, it is flawed and does not require much thinking from viewers. But the mere fact that it is NOT WOKE makes it much more entertaining to watch than any of the action movies made by woke Hollywood people over the past several years. To get to discover Swordfish, watch GoodBadFlicks’ exploratory video and TBR Schmitt’s movie reaction video below.

#5 You, Me and the Movies’ Cliffhanger reaction video – Way back in 1993 here in the Philippines, there was a short period when both Steven Spielberg’s Jurassic Park and Sylvester Stallone’s Cliffhanger played simultaneously in the cinemas which resulted in a huge amount of moviegoers lining up for tickets. While Jurassic Park is iconic, Cliffhanger has a more intriguing pre-production and production history. Even though Carolco had major financial problems and Stallone had a fear of heights, the film was eventually made and became a big hit worldwide. To find out if Cliffhanger is still entertaining, watch You, Me and the Movies’ reaction video.

#6 A look back at Die Hard with a Vengeance – I still remember way back in the middle of 1995 how disruptive Die Hard with a Vengeance was as soon as it opened in cinemas here in the Philippines. People left and right suddenly started making plans to watch the film and find out what kind of opposition John McClane (Bruce Willis) would face. While I found the 1995 movie inferior to the classic Die Hard of 1988, it still was enjoyable. For some reason, the film was released in Philippine cinemas as “Die Hard 3” and on local TV as “Die Hard 3: With a Vengeance.” If you have seen the movie and you want to revisit it, watch the follow videos I selected.

#7 Die Hard Arcade documentary by PatmanQC – Decades ago, there was a Sega-produced video game that had a notable movie license – Die Hard Arcade. I had friends who enjoyed that game so much in the local arcades and later on Sega Saturn. A few of them even were convinced to replay Die Hard (1988) on home video. You might be wondering if Sega and 20^th Century Fox collaborated to make Die Hard Arcade for many people to enjoy. Actually, it’s more complicated than that and to find out why, I encourage you to watch PatmanQC’s Die Hard Arcade documentary now.

8. Woke Disney’s Snow White movie massively rejected online – Even if there were no controversies at all, I really have no intention to watch the 2025 Snow White movie of woke Disney. Even until now, a lot of members of the public have been rejecting it online and no matter what Disney does, they just keep on failing to salvage the film. Watch and learn from the video of RK Outpost below.

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

November 11, 2024October 23, 2024carlocarrasco

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 3^rd floor (note: officially referred to as the 2^nd Level or 2L or 2^nd Floor by the mall. The 1^st floor and 2^nd 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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Mardi Gras Warehouse Sale 2024 set for November 15 to 17 at Madison Galeries

October 26, 2024October 22, 2024carlocarrasco

Madison Galeries announced that the 2024 edition of the Mardi Gras Warehouse Sale is all set to happen from November 15 to 17, 10AM to 8PM, at The Events Place at the 3^rd floor of the mall in Barangay Cupang, Alabang, Muntinlupa City.

For the newcomers reading this, Madison Galeries is located along Don Jesus Boulevard and it is a short drive away from Alabang Hills Village as well as the West Service Road.

To put things in perspective, posted below is an excerpt from Madison Galeries’ Facebook announcement. Some parts in boldface…

Exciting news, everyone! The ultimate Warehouse Sale is back and better than ever! Mark your calendars! Mardi Gras is coming on November 15-17, 2024, at The Madison Events Place.

This is the anticipated event of the year where you can score amazing deals with up to 80% off a wide range of items! Whether you’re hunting for unique finds, fresh stocks, or just looking to snag low prices, this sale is not to be missed.

Those who wish to receive updates about Mardi Gras Warehouse Sale via Viber can join the community by clicking https://tinyurl.com/MardiGrasViberComm

The accepted modes of payments at the sale are cash, GCash and credit cards. Like the previous years’ Mardi Gras sale/bazaar, there will be a wide range of items offered such as coffee mugs, utensils, kitchenware, clothes, toys, bags and more. Mardi Gras Warehouse Sale is also an opportunity for shoppers to buy items for Christmas gift-giving.

For more information, contact Madison Galeries by sending email at social@madisongaleries.com or visit their Facebook page at https://www.facebook.com/MadisonGaleries

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Filinvest Malls and COMELEC sign MOA enhancing voter accessibility, Festival Mall to have official registration site

February 10, 2024February 7, 2024carlocarrasco

Recently in the progressive City of Muntinlupa, a memorandum of agreement (MOA) was signed by officials of the Commission on Elections (COMELEC) and Filinvest Malls inside Festival Mall in Filinvest City which should enhance voter accessibility through the local implementation of the Register Anywhere Program (RAP), according to a social media post by Festival Mall dated February 7, 2024.

To put things in perspective, posted below is an excerpt from the social media post of Festival Mall. Some parts in boldface…

In a move to enhance voter accessibility, Filinvest Malls becomes the first mall chain to sign a Memorandum of Agreement (MOA) with the Commission on Elections (COMELEC), launching the Register Anywhere Program (RAP) during a contract signing ceremony at Festival Mall on February 7, 2024. Tristan Las Marias, President & CEO of Filinvest Land, Inc., and COMELEC Chairman George Erwin Garcia, solidified their commitment to RAP during the ceremony.

Operational from February 12 to September 30, 2024, RAP will establish registration sites in key Filinvest Mall locations, including Festival Mall (Alabang), Main Square (Bacoor), Fora Mall (Tagaytay), and IL Corso (Cebu). This initiative seeks to enhance the efficiency of the voter registration process, prioritizing accessibility and community involvement. These locations have been strategically selected to ensure easy access for diverse communities.

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 need voter-related registration soon, would you avail of the RAP service at Festival Mall? Do you think the agreement between Filinvest Malls and COMELEC will make a huge impact with current voters as well as aspiring voters?

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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COMELEC’s Register Anywhere Program (RAP) to be implemented on February 12, 2024 nationwide

January 17, 2024January 11, 2024carlocarrasco

In relation to the resumption of the voter registration process set for February 12, 2024, the Commission on Elections (COMELEC) announced that its Register Anywhere Program (RAP) will be implemented nationwide on the same date, according to a Philippine News Agency (PNA) news article.

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

The Commission on Elections (Comelec) is set to implement nationwide its Register Anywhere Program (RAP) when the voter registration period resumes on Feb. 12.

In a statement Thursday, the poll body said the RAP would accept applications in all capital cities and towns and highly urbanized cities (HUCs).

“RAP registration sites will be set up in malls, universities, or government offices/agencies in all capital cities and towns and HUCs nationwide. RAP has now been institutionalized in the Commission as a program owing to its favorable turnout and positive reception by the general public and other stakeholders,” the Comelec added.

In 2022, the poll body held a pilot testing of the RAP in selected areas, including malls and government agencies.

The initial testing was held in SM Fairview, Robinsons Place Manila, SM Sucat, Robinsons Galleria, SM Mall of Asia, Robinsons Tacloban, SM City Legazpi and Robinsons Naga.

Aside from these venues, the Comelec said the program will also be held in select church organizations, private establishments, government agencies and educational institutions.

The RAP’s nationwide implementation aims to provide additional avenues and opportunities for voter registration in places of higher concentration of people traffic and congregation of persons of voting age.

“This move will maximize efforts to register workers, employees, and students with limited time and opportunity to register, for them to become voters for the 2025 National and Local Elections,” it said.

Under the RAP, a registrant will be allowed to file his/her application wherever there is a designated RAP registration site regardless of his/her place of residence.

Other applications that will be accepted in RAP sites include new registration, transfer of registration from another city/municipality/district, transfer of registration from overseas to local, correction of entries or change of status, and reactivation.

The RAP will be available until Aug. 31.

Let me end this piece by asking you readers: What is your reaction to this recent development? Are there many members of your local community who intend to avail of COMELEC’s RAP?

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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Where to deposit your excess Peso coins while you are in Alabang

November 29, 2023November 27, 2023carlocarrasco

If you are constantly present here in Alabang in Muntinlupa City, and if you have an excess number of Peso coins that you want to have deposited for safekeeping or for personal use, then you should visit the coin deposit machine (CoDM) of the Bangko Sentral ng Pilipinas (BSP) located inside Festival Mall in Filinvest City.

To be more specific, the BSP CoDM inside the said shopping mall is located on ground floor very near the escalators which itself is in close proximity to the following ground floor businesses: SM Savemore grocery, Saibachi Japanese Restaurant and Café BLK & BRWN (this one is just steps away from the machine).

*This is the BSP coin deposit machine inside Festival Mall in Alabang.*

Before you join the line for depositing your coins at the BSP’s coin deposit machine, you must have a valid GCash account (to receive the value of the coins successfully deposited). If you don’t have a GCash account, you can still have the value of the deposited coins converted into SM shopping vouchers (accepted by The SM Store). There is also a Maya option available.

Still before joining the line, you must make sure that your Peso coins are not dented/damaged, and each coin is loose (meaning not taped together as a bundle). Obviously, foreign coins, tokens and demonetized Peso coins (Peso coins that are outdated) will be rejected. These tips are to ensure that the coins will be counted by the machine once deposited. To learn more, watch the video below and pay close attention to the details…

Once you join the line, you will need to be patient not simply because there could be several customers ahead of you but also because there will most likely be other customers ahead of you who brought at least one large container of coins with them for depositing which can take some minutes to be deposited into the CoDM (note: there is always a BSP assistant who will help and occasionally troubleshoot the machine whenever it malfunctions).

Do not be surprised to see other customers ahead of you who brought multiple plastic containers of coins to be deposited. Based on my personal experience depositing coins at the machine inside Festival Mall, I noticed that more families and local businesses are having their idle coins put into the CoDM. There was a time when one customer ahead of me deposited coins from four large containers and it took several minutes for the machine to count them all and this includes moments when the machine malfunctioned and the BSP assistant had to do some fixing on the spot.

Once you start your turn to deposit at the CoDM, let the BSP assistant guide you. There will be buttons on the machine for you to press before you start putting your coins into the receiving mechanism. From time to time as coins get counted, there will be a few coins that the machine will reject and will instead fall into the lower part where you can reach into and collect. You can try depositing the uncounted coins until it gets counted. As mentioned earlier, foreign coins, tokens and demonetized Peso coins will be rejected.

Once your deposit is successful, you can decide whether to have the counted value transferred into your active GCash account or into an SM shopping voucher. Receipts will be issued from the machine which you must always keep to yourself. Do not throw away the receipts.

*Another look at the BSO CoDM inside Festival Mall located near the escalators at the ground floor..*

I hope this post will be helpful to you and your effort to deposit excess Peso coins into the BSP DoCM inside Festival Mall. In my experience, the lines range from very short (1 or 2 customers ahead of me) to long (8 customers ahead of me). There will be customers who will be depositing a small amount and there are others who brought so much coins as the BSP coin deposit project has attracted a lot of attention locally. You will need to be patient and manage your time when you join the line for the CoDM. To learn more about the coin deposit project, click https://www.bsp.gov.ph/Pages/CoinsAndNotes/CDM.aspx

Let me end this piece by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City, have you deposited your idle Peso coins into the BSP CoDM inside Festival Mall? If you were able successfully deposit your coins, how long did you wait before your turn happened?

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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Visit Mardi Gras Bazaar (2023) at Madison Galeries now!

November 18, 2023December 4, 2023carlocarrasco

NOTE: Shortly after the launch of Mardi Gras Bazaar, Madison Galeries renamed it into Mardi Gras Warehouse Sale which had its last sale on December 2 and 3, 2023. The previous announced schedule of Mardi Gras Bazaar set for November 18 to December 31, 2023, no longer matters.

It has finally happened and already a lot of people have joined in for their shopping needs or purposes. I’m talking about the latest Mardi Gras Bazaar which officially started this morning at the 3^rd floor of Madison Galeries along Don Jesus Boulevard, Alabang Hills, Barangay Cupang, Muntinlupa City, and I personally visited and bought some nice things with the Christmas season in mind.

*Mardi Gras Bazaar this year is happening at the 3rd floor of Madison Galeries. If you go further in, there is a lot of space inside with all the products for sale.*

Also taking place right now is the Christmas Sale of Oriental Merchants at the 4^th floor of the same mall.

For the newcomers reading this, the Mardi Gras Bazaar this year will last until December 31, 2023 with a schedule of 10AM to 8:30 PM. In my personal experience, this is my 2^nd time to attend the bazaar at Madison Galeries and it also marked the first time in four years since I last attended it (read my 2019 Mardi Gras Bazaar experience by clicking here).

More on the ongoing Mardi Gras Bazaar, check out the pictures I posted below and may these be a reference for you all…

*A wide shot of the venue of the bazaar. There is a lot more products not seen in this image.*

*Looking for a new bicycle? Mardi Gras Bazaar has it!*

*The return of Mardi Gras Bazaar is indeed special. So many products with attractive prices around.*

*In the background are the counters where shoppers lineup with their selected products. Payments by cash, GCash (e-wallet) and credit cards are accepted.*

*In my experience, the process has been orderly.*

For those of you who need directions to get to Madison Galeries for the bazaar, posted below is a screenshot from the social media post of the mall…

As we now live in the post-pandemic age, the newest Mardi Gras Bazaar is an important event not simply because it offers shoppers opportunities to acquire good items at discounted rates but also because it contributes to the normalization of life after the depression of COVID-19.

That being said, I encourage you my readers to take the opportunity to come to Madison Galeries and join the Mardi Gras Bazaar while there is still time. I encourage you also tell your neighbors and friends in our communities about it.

*For your reference, this was at the ground floor of Madison Galeries along Don Jesus Boulevard.*

For more information about Mardi Gras Bazaar (2023) and other activities at Madison Galeries, visit their Facebook page at https://www.facebook.com/MadisonGaleries

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Madison Galeries’ Mardi Gras Bazaar set for November 18 to December 31, 2023

November 10, 2023December 4, 2023carlocarrasco

Madison Galeries, the nice open-air shopping mall located along Don Jesus Boulevard in Barangay Cupang, Muntinlupa City, recently announced the return of their popular Mardi Gras Bazaar which is all set to take place from November 18 up to December 31, 2023 at the 3^rd floor.

*The official image and details that Madison Galeries posted through social media.*

For the newcomers reading this, the Mardi Gras Bazaar is a well-known special event of Madison Galeries’ with an emphasis on shopping as well as a wide variety of products that buyers can choose from for gift-giving or for the use of their respective households. It should be noted that several products will be offered at discounted rates which should easily attract bargain hunters as well.

In 2019, I published two posts about the Mardi Gras Bazaar which you can read by clicking here and here. My post-event article has some pictures which should you give an idea of what to expect at the next edition of the Mardi Gras Bazaar.

For the 2023 edition of the Mardi Gras Bazaar at Madison Galeries, the announced schedule of November 18-December 31 is pretty extensive and it should give people a lot of time and opportunities to shop. The schedule of the bazaar for each day is 10AM to 8:30 PM.

What to expect at this year’s bazaar? Based on the official image from Madison Galeries, there will be clothing, toys, appliances, electronics, hardware and other items that can be ideal for gift-giving this Christmas season. As with the past editions of the Mardi Gras Bazaar, a discount of up to 80% will be applied on certain items for sale.

Still on Madison Galeries, it should be noted that The Madison Events Place Facebook page shared the 2023 Mardi Gras Bazaar post which suggests that the 3^rd floor venue (The Madison Events Place itself) will be the place to go to. Going back to 2019, I personally attended the Mardi Gras Bazaar and the Village Food Fair 2 (click here) on separate occasions and both special events utilized The Madison Events Place as the main venue. The said venue is a really nice and spacious indoor facility that is also comfortable, secure and fully air-conditioned.

Personally, I am eager to attend this upcoming event. For those of you who have yet to visit Madison Galeries in Alabang, the mall has sufficient parking spaces (note: there are elevated indoor parking levels inside).

Watch out for Mardi Gras Bazaar at Madison Galeries on November 18 to December 31, 2023. Visit the mall along Don Jesus Boulevard in Barangay Cupang, Muntinlupa City. The said boulevard is accessible through Alabang Hills Village (for those who have AHVA car stickers) and the West Service Road. Visit Madison Galeries’ official FB page at https://www.facebook.com/MadisonGaleries

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Almost P90 million worth of coins deposited through BSP’s machines

October 6, 2023October 4, 2023carlocarrasco

Do you have an excessive amount of coins with you right now? In recent times, the Bangko Sentral ng Philippines (BSP) launched their project to give people opportunities to deposit their coins through coin deposit machines (CoDMs) that were installed in a few locations. According to a report by GMA Network, almost P90 million worth of coins have been deposited.

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

Nearly P90 million worth of coins have been deposited through the Bangko Sentral ng Pilipinas’ (BSP) coin deposit machines (CoDMs).

Since its launch on June 20, over P87.4 million worth of coins were deposited through CoDMs from more than 20,000 transactions as of September 22, 2023.

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

Latest central bank data revealed that the coins deposited into the machines were mostly credited to customers’ e-wallets, while a portion was exchanged for shopping vouchers.

In June, the BSP deployed two CoDMs at the SM Mall of Asia in Pasay City, one at Festival Mall in Alabang, Muntinlupa City, and another at Robinsons Place Ermita in Manila.

Moreover, the BSP installed additional coin deposit machines at Robinsons Place Galleria in Ortigas, SM City North EDSA, SM City Fairview in Quezon City, SM City San Lazaro in Manila, SM City Bicutan in Parañaque, and SM City Bacoor in Cavite, bringing the total CoDMs count to 10.

The BSP’s CoDMs accept all denominations of the BSP Coin Series and the New Generation Currency Coin Series launched in 2018, ranging from a centavo to as high as P20.

Through the CoDMs, customers can deposit legal tender coins and have the equivalent amount credited to their GCash accounts. The BSP said it is also working to onboard Maya to provide more e-wallet options to the public.

In using the machines, the central bank urged customers that coins to be deposited must not be taped or bundled, must not come with other objects like buttons, magnets, nails, tokens, screws, or washers, and must be gently placed in the coin slot in handfuls.

Being based in Muntinlupa City, I myself managed to deposit coins into the BSP machine located inside Festival Mall in Filinvest City in Alabang. I really liked the convenience of having the amount of my deposited coins transferred electronically into my GCash account and without any technical or convenience fees charged. I can only hope that the BSP will come up with options for coin depositors to transfer the collected value directly into bank accounts without charging any fees.

Let me end this piece by asking you readers: What is your reaction to this recent development? Were you able to deposit your coins at a BSP machine near your local community? Do you think this project by the BSP will help prevent coin shortages from happening? If you have an excessive amount of coins in your household right now, would you be willing to deposit them all into a 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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