The Mall of Pasay

When the project was conceptualized, it was given the very grand name, Mall of the World. Then, it was downsized to the Mall of Asia.

These days, the mall that Henry Sy is putting up in the Reclamation Area (near Roxas Blvd.) is called – in jest, of course, and never in the presence of Mr. Sy – the Mall of Pasay.

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Perhaps in an effort to save on electricity, the lights in unused floors of Asiaworld’s hotel in Puerto Princesa are switched off at night.

With only the first and second floors lighted, the hotel owned by the Tan Yu family looks creepy from the outside.

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Although members of the Ilusorio family have yet to settle their differences, including who represents the family at the Philippine Communications Satellite Corp., things have pretty much settled down-enough for Marietta Ilusorio to fly to Maryland and indulge in eating those crabs that are at their fattest in autumn.

Honey Ilusorio, who sits in one of two rival Philcomsat boards, has traditionally spent her Christmas and summers abroad. This year, she decided to leave earlier than usual.

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Bank notes 1: As part of its year-long 100th birthday celebration in the country, Citibank NA is bringing in its hometown band, New York Philharmonic, for a two-day performance next month.

One of the performances will be co-hosted by country corporate manager Catherine Weir and global business bank head Nina Aguas for bank clients. That’s by invitation only.

The other performance will raise money for the Cultural Center of the Philippines. That’s open to anybody willing to pay the price of a ticket.

Uhm, there’s no way Citi will bring in the NBA team, the New York Knickerbockers. After all, Ms. Weir and Ms. Aguas are not into basketball.

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Bank notes 2: Deutsche Bank country manager Michael Hellbeck is hosting an investors’ briefing this Monday. The briefing is scheduled on the same day that Philippine Stock Exchange chairman Vivian Yuchengco and president Ernest Leung are hosting a local roadshow.

In the case of the PSE road show, all the stockbrokerage firms will have booths, manned most likely by the top honcho who will answer whatever questions are field their way. Oh yes, President Macapagal-Arroyo will be around to accept the PSE’s reform agenda.

Both briefings hope to generate more investor confidence and, hopefully, a couple of extra millions more in trading activity.

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AC Nielsen conducted an online survey on consumer confidence in the Philippines and in 12 other Asia-Pacific countries. The results of the survey conducted from July 13-31 were released yesterday by managing director for Southeast Asia Bienvenido Niles Jr.

Here are some of the findings:

• Like the rest of Asia, Filipinos surveyed believe economic recovery will take place within the next 12 months. In its previous survey, which did not include the Philippines, the time frame for economic recovery was within the first half of 2003.

• Slightly more than half of the Filipinos surveyed have deferred spending in the past six months. More Filipinos deferred extended holiday and investment in property than the rest of the countries surveyed.

• Purchase of a digital camera was the top electronic purchase that was deferred in the last six months and will be deferred again in the next six months.

• In the next six months, the top three major concerns of Filipinos surveyed are the worsening economy, 41-percent job security, 31 percent, and crime, eight percent.

By the way, of the Filipinos surveyed, 90 percent belonged to the AB and upper C segments.