A MONTH after saying it wants to invest here, Radiant Studios, the local unit of US-based Radiant ERA Holdings Llc., kicked off its first film project costing P200 million ($5 million).

Vice president for business development Andrei Aquino said the outfit has started principal photography on March 3. The film, called I Love You, will be released internationally middle of this year and toward the end of 2008 in the Philippines. The movie will feature local and Hollywood actors.

Radiant’s parent firm Radiant ERA Holdings said earlier it will invest up to P2 billion ($50 million) over the next five years to make eight to 10 films.

“There is no doubt about the talent found here in the Philippines. Being from the industry and having a 17-year track record, I’ve seen the possibilities of what kind of quality that can be produced locally. Through Radiant Studios, we want to bring the Filipino talent a couple of steps closer to the global marketplace because I believe in the talent and the potential. It just needs to be honed in the right way,” said Radiant ERA Holdings chief operating officer Jovie Saddul in a previous statement.

Apart from the technical skills and know-how that Radiant Studios will bring to the local market, it will also advocate proper strategies into the entertainment industry, which could be an alternative investment opportunity for local businessmen.

“This will be initially done for private investors and enthusiasts and, later on, to the general public. This, of course, is dependent on the size of the projects that we will be embarking on,” said Saddul.

Radiant Studios banners Radiant ERA Holdings’ venture into the entertainment industry. Among its assets are its live-action production arm Torch Media and Glow Animation, a studio designed to be the best 3D animation facility in the Asia-Pacific region.

THE goal of Philippine Long Distance Telephone Co. (PLDT) Group this year is to add at least 5 million mobile phone subscribers and about half a million for broadband.

Six PSEi stocks among last week’s losers

KEPPEL Philippines Holdings Inc. was the market’s biggest gainer last week. It traded only for two days: March 4, when it opened and closed at P1.80 on a turnover of P63,000; and March 3, when it traded at P1.56 throughout the session on a turnover of P54,600.

A MONTH after saying it wants to invest here, Radiant Studios, the local unit of US-based Radiant ERA Holdings Llc., kicked off its first film project costing P200 million ($5 million).

ISRAELI robotics company InRob Tech Ltd. announced it would set up shop in Makati City, where its Philippine partner, CP Communication Services Inc. (CP Comm), operates.

LAST week: Stock prices tumbled Friday on fears of rising inflation and an economic recession in the US.

Nobody knew who really started it but, at the end of the night, former finance undersecretary Milwida Guevara was P13,000 richer. The amount- of mostly P100 bills- was a response to her speech as the Haydee Yorac awardee that even P100 will go a long way to help a child get a better education.