‘Res Ipsa Loquitur: The Lines That Define Me’

Rising Sun

‘ReS ipsa Loquitur: the Lines that Define Me” is the title of my art exhibit opening on the 11th of August at ArtistSpace in Makati. the show will run until August 27, 2023 and will feature an Artist Reception on its second day, August 12, at 4:30 p.m. i would like to invite you all to the opening and/or the reception the following day or to view the artworks anytime until the 27th.

I am presenting 25 artworks to the public. It’s a collection of works that define me as an artist, for example, the joyful memories from various places I have visited. Certain sceneries latched on and worked their way into my abstract work. History is also an important feature of my artworks and I hope I am able to give it adequate space and treatment in this collection.

I welcome the viewing public to look at my abstract artworks the way they want to. Art appreciation is very personal and I believe one can view my work in 1,001 ways. Also, you can see and interpret it differently every time you look at it. In this sense, my abstract represents infinite possibilities. It’s one of the beautiful qualities of abstraction, it has limitless potential.

I am grateful to ArtistSpace, JFR II Studio, Salazar Art Agency, and The Saturday Group of Artists for making the art exhibit possible. ArtistSpace is located at the ground level of Ayala Museum Annex, Makati Avenue corner De La Rosa Street, Greenbelt Park, Makati City. For details, please contact Mr. Tom Paolo Hinlo at +639686434187 or e-mail salazar.art.agency@gmail.com. I hope to see you on August 12 at 4:30 p.m.

An excerpt from the press release:

Res Ipsa Loquitur: The Lines That Define Me by Joy Rojas promises to be a captivating and timely affair. The exhibition not only showcases Rojas’ new works in abstraction but also delves into the artist’s experimental approach to color, abstract shapes, and texture. Unlike traditional pure abstraction, Rojas intertwines ele-

Is NGCP being treated unfairly?

Debit Credit

SoMe people worry about the adverse impact of the distribution of earnings to the stockholders by the National Grid corporation of the Philippines (NGcP). there is concern about the capacity of NGcP to provide for the much-needed capital expenditure build-up for infrastructure.

This matter is taken care of by the law. The Commonwealth Act 146 requires regulated entities in the power sector to accumulate the funds generated by depreciation in a separate bank account. This cannot be used for any purpose except for capital replacements or capex buildup. Any capex requirement not covered by the depreciation fund may be sourced or financed by the company from borrowings, from additional capital, or, from the reinvestment of retained earnings. However, the decision taken on these options is a management prerogative.

There may be years when the dividends that are declared exceed the company’s net income for the period. That is not an issue as long as there are enough unrestricted or accumulated retained earnings at the time of declaration. In other words, the basis for the amount of dividend declared is not the current year’s income, but the balance of accumulated and unrestricted retained earnings. Some quarters seem to fault the NGCP for paying a high dividend rate and leaving less for reinvestment purposes and instead relying on borrowings. There is no law or rule that prohibits this practice. It is purely a management prerogative. Come to think of it, this may even be good for consumers because even if owners or management agree to reinvest its earned dividends, the effect on allowed profits would be higher because the cost of debt is lower. So, reinvesting funds from dividends instead of borrowing would have the adverse effect of increasing the rates. Is it correct to allow NGCP or any regulated entity to include in the rate a return on capital used for any unfinished project or works in progress?

The Commonwealth Act 146 requires regulated entities in the power sector to accumulate the funds generated by depreciation in a separate bank account. This cannot be used for any purpose except for capital replacements or capex build-up. Any capex requirement not covered by the depreciation fund may be sourced or financed by the company from borrowings, from additional capital, or, from the reinvestment of retained earnings. However, the decision taken on these options is a management prerogative.

This same question has been raised to regulators in other countries. The prevalent position taken is that it is allowed for as long as it s reasonable. Reasonable here means it is fair to investors because, for projects with long gestation or construction periods, amounts or funds have been invested or borrowed, which means the cost of funds is due and demandable. No company can tell its creditors that the amounts of money they lent to the company will earn interest only when the project is finished. No one will lend money ments from the natural world, using a medley of colors that reference landscapes and historical imagery. The interplay between the artist’s gestural imprint and archival materials in his works creates a fascinating palimpsest, revealing the complexity of history and the layers of meanings within each piece. This duality of abstract expression and historical references adds depth and intellectual intrigue to the exhibition, allowing viewers to engage with the artwork on multiple levels. One of the most captivating aspects of the show is the exuberant and joyous quality emanating from Rojas’ works. Inspired by his encounters with nature during his travels, the artist’s creations seem to embody the very essence of his experiences. Rojas’ intention to share his sensations with the audience creates an immersive and emotionally resonant viewing experience. The vibrant colors, on this basis. Therefore, the reasonable criterion means consumers are expected to be charged with the cost of funds during the construction period. However, reasonableness also means optimization is observed. This consists of making sure that the costs of inefficiencies should not be part of the rate. This practice is not only recognized for purposes of regulation. This is also a generally accepted accounting practice. Should Congress amend or abrogate the franchise of NGCP? I think I will leave that matter to the lawmakers. But as an afterthought—if there is a clamor to change for the betterment or benefit of consumers, let the government operate the transmission system like a cooperative. The formula now will have to exclude the profit element in calculating the rates.

But, the question is—does the government have the funds to pay back NGCP, and will it have the means to finance future capital projects or replacements?

Many questions and issues abound. Food for thought and constructive action.