BusinessMirror May 3, 2016

Page 1

SOUTH CHINA SEAWATCH:

SCARBOROUGH SHOAL AS A RED LINE

B

EING so close to the main Philippine island of Luzon, the Scarborough Shoal is a particularly sensitive piece of real estate. The uninhabited coral reef was exploited both Filipino and Chinese fishermen, and was used as a bombing range by the United States Air Force until Washington closed bases in the Philippines in 1991. In 2012 Chinese vessels seized the shoal, following a tense standoff with Filipino ships. The South China Morning Post reported, citing an anonymous military source, that Beijing will start reclamation work on the shoal later this year and may add an airstrip to extend the air force’s reach. Transforming the shoal into another military outpost so close to Manila and the busy Luzon Strait, which connects the South China Sea with the Pacific Ocean, would be the biggest challenge yet for the Philippines and its ally, the US. China did not confirm nor deny the report.

IN this April 16, 2012, file photo, protesters display placards during their rally outside the Chinese Consulate at the financial district of Makati City, to accuse poaching by Chinese fishermen at the disputed Scarborough Shoal in the South China Sea. AP

MEDIA PARTNER OF THE YEAR

A broader look at today’s business

www.businessmirror.com.ph

n

Tuesday, May 3, 2016 Vol. 11 No. 206

Technical kinks placed e-trike project in limbo $504M F B C U. O

@cuo_bm

RANKFURT, Germany—The Asian Development Bank (ADB) confirmed on Monday that the $504-million electric tricycle (e-trike) project, which it is financing, has encountered technical issues. ADB Sustainable Development and Climate Change Department Director Preety M. Bhandari made t his pronouncement in a news

INSIDE

LEADING PRIME-TIME SHOWS KEEP EDGE

briefing here on Monday. The $504-million project involves the supply and delivery of 100,000 units of e-trike. This is part of the

The cost of the e-trike project that involves the purchase of 100,000 electric tricycles ADB-funded Market Transformation through Introduction of Energ y-Ef f ic ient Elect r ic Vehicles Project. “There are many issues. It was not only the batteries, it was also C  A

BMReports

Are PHL airports ready for Brussels-type attack? Terrorism in Southern Philippines fans belief threats to security intensifying

P.  |     | 7 DAYS A WEEK

Gomes: Returning money to Bangladesh should be one of P-Noy’s final acts B B C

SHOW

D3

WITH OR WITHOUT CURRY Sports BusinessMirror

IAMI—Miami Heat ousted the Charlotte Hornets from the National Basketball Association (NBA) playoffs with an emphatic 106-73 victory on Sunday. Miami won two elimination games to take the series, 4-3, and will play Toronto in the Eastern Conference semifinals starting on Tuesday night. “Just great competition,” Heat Coach Erik Spoelstra said, lauding the Hornets. “Our hats go off to them. They made us better.... I think our basketball team needed to go through that, to be pushed and find a different level, which we showed in the last two games.” Goran Dragic scored 25 points in his first Game Seven, Gerald Green added 16 and Luol Deng scored 15. Dwayne Wade finished with 12 and Hassan Whiteside had a 10-point, 12-rebound, five-block clincher for the Heat, who have won their last four Game Sevens. Frank Kaminsky scored 12 for Charlotte, which got 11 from Courtney Lee and 10 from Nic Batum. The Hornets’ two biggest stars, Kemba Walker and Al Jefferson, never got going—combining for 13 points. “I thought we had a great season,” said Walker, who shot three-for-16. “We were really resilient. We had a lot of injuries but we stuck together all year. When guys’ names got called to make plays and step up, they did. A lot of people didn’t even think we’d be here.” A contentious series, with too much attention getting placed on courtside fan behavior and NBA officiating reports, pushed Miami to the limit. Charlotte had a chance to close out the Heat on its home floor in Game Six, wasting the opportunity. The Hornets never had a chance in Game Seven. Miami led the whole way, taking a 12-point lead at the half and stretching it to 24 by the midpoint of the third quarter—the period that has been a problem for the Heat all season but became the catalyst to what became a rout on Sunday. And with that, it was obvious that Charlotte’s season was going to be bookended. It started with a loss in Miami. And it ended with a loss in Miami. “I still thought at halftime, we were fine,” Hornets Coach Steve Clifford said. “And then in the third quarter, it got away from us.” Wade has played in 29 postseason series; the Heat have won 22 of them. And under Spoelstra, the Heat are now 15-4 in postseason series, 8-4 when facing elimination games and 15-5 in games when they have a chance to oust an opponent. “I’m not a prophet or anything,” Wade said, “but I knew we were winning this game.” AP

C1

| TUESDAY, MAY 3, 2016 mirror_sports@yahoo.com.ph sports@businessmirror.com.ph Editor: Jun Lomibao Asst. Editor: Joel Orellana

WITH OR WITHOUT CURRY

AVIATION Explosive Ordinance Disposal Management Unit member PO2 Lorna Tolentino and her K9, named Edd Sanc, inspect baggages inside the Naia Terminal 3 in Pasay City. She is just one of the members of the Aviation Security Group, which, composed of armed men in all-matte black uniform, is also part of the agencies that monitor them. Some of them could be seen boarding vehicles, sometimes with a K9 team in tow to sniff out bombs. NONIE REYES

KLAY THOMPSON scores 37 points in another brilliant performance for Golden State. AP

HEAT center Hassan Whiteside (21) converts against the Hornets in the first half of Game Seven on Sunday. AP

Raptors T snap out of drought

ORONTO—DeMar DeRozan scored 30 points and Jonas Valanciunas had 15 rebounds and 10 points, as the Toronto Raptors beat the Indiana Pacers, 89-84, on Sunday night in Game Seven of the first-round playoff series to advance to face Miami in the conference semifinals. Rookie Norman Powell added 13 points while Kyle Lowry had 11 points and nine assists and Patrick Patterson had 11 points to help Toronto win a seven-game series for the first time in franchise history. The Raptors won their first postseason series since a five-game triumph over the New York Knicks in 2001, ending the National Basketball Association’s longest active drought between playoff series victories. Paul George led Indiana with 26 points and 12 rebounds, George Hill scored 19 points and Monta Ellis had 15. Up 78-64 after three quarters, the Raptors didn’t make their first basket of the final quarter until a three by Powell at 8:19. Joseph followed with a pullup jumper to make it 81-67, leading to an Indiana timeout. The Pacers responded by scoring 12 of the next 14 points, cutting it to 85-79 with 3:23 remaining. Indiana cut it to three at 85-82 on Ellis’s three-pointer with 2:37 left but Lowry answered with a driving lay-up. George made a pair of free throws with 52 seconds left to pull Indiana within three again at 87-84. After DeRozan missed a three-pointer, Solomon Hill grabbed the rebound and Indiana called a timeout to draw up a play for George but he turned the ball over. DeRozan made the steal then got fouled at the other end and made both with 6.5 seconds left, giving the Raptors an 89-84 lead. George missed a three with 3.9 seconds left, Biyombo grabbed the rebound and Lowry heaved the ball to the other end of the court as time expired, sending Toronto into the second round. DeRozan scored 13 points in the first quarter, overcoming 12 by George and the Raptors led 28-23 after one. DeRozan’s first-quarter total was more than he had in either Games Four or Six, when he scored eight points. De Rozan made just one of five field goal attempts in the second but Powell came off the bench to score 10 points. DeRozan also scored 13 points in the third quarter. AP

The injured Most Valuable Player Stephen was sitting at his locker when it happened, chatting with Klay Thompson about how the Warriors dominated yet again without him, in a 118-106 win that put them up 1-0 in the Western Conference Semifinals. Sporting black street clothes and a carefree smile, he fired an empty sports-drink bottle toward the nearby trash can and...brick.

B S A

USA Today AKLAND—Just before Klay Thompson headed to the Oracle Arena media room to discuss his latest playoff feat, a 37-point outing against the Portland Trail Blazers on Sunday, in which he became the first player in National Basketball Association (NBA) history to hit seven or more three-pointers in three consecutive postseason games, the Golden State Warriors’ other Splash Brother saw something even more rare. A Stephen Curry miss—from point-blank range. The injured Most Valuable Player was sitting at his locker when it happened, chatting with Thompson about how the Warriors dominated yet again without him, in a 118-106 win that put them up 1-0 in the Western Conference Semifinals. Sporting black street clothes and a carefree smile, he fired an empty sports drink bottle toward the nearby trash can and...brick. Maybe they don’t need this guy after all. At least not this round. When Curry went down like a melting Gumby doll in Houston on April 24, you never would have guessed that their prospects for a title defense would be so promising one week later. A second-round matchup with the Clippers was still in play back then, as the basketball world didn’t learn until two days later that Chris Paul (broken hand) and Blake Griffin (quadriceps tendon tear) were out for the postseason. Enter a Blazers team that is your classic happy-to-be-here group, having lost four of five starters last offseason and severely overachieved to even get to this point, and the Warriors’ fortunes had taken a turn for the better just when it seemed like it couldn’t get any worse. From then until now—halftime of Game Four against the Houston Rockets all the way through Sunday—the Warriors have outscored the Rockets and the Blazers by a combined 82 points (307-225), while Curry cheers with all the spirit of a mascot from the bench. The right MCL sprain he suffered in Game Four against Houston isn’t as bad as feared, either, as he even hinted to ESPN’s Lisa Salters during an in-game interview that he could be back for Game three against Portland. What’s more, the beauty

O

of Curry’s absence is that, with the spotlight having shifted, it has forced us to appreciate Thompson’s special talent. Amid all the Curry madness, it’s often forgotten that some wondered whether he was the best player on his team just two summers ago. During Team USA’s gold medal run at FIBA World Cup in Spain, the combination of Thompson’s shooting and relentless defense was enough to make it a conversation. That same summer, even the Warriors were guilty of not fully knowing what they had. As has been well-chronicled, they gave serious thought to trading Thompson to the Minnesota Timberwolves in a deal that would have landed them Kevin Love. They ultimately declined, in large part because of concerns about what it would do to their defense. From owner Joe Lacob on down, they’ve been reminded why it was such a wise move to keep him ever since. “Not many guys in the league who could chase Damian Lillard around for 37 minutes and score 37 points, too,” Warriors coach Steve Kerr said. “Klay is a tremendous two-way player, and that was really an amazing night for him just in terms of his all-around play.... That’s a big burden to have to play both ways like that. He was awesome.” Thompson not only led a high-powered offensive effort but spent 37 minutes smothering one of the game’s best point guards in Damian Lillard (eight-of-26 shooting for 30 points and a minus-19 plus-minus rating). He called Lillard the Blazers’ “head of the snake” afterward—as good a clue as any that there will be more where this came from in the coming games. On the other end, he did the kind of Curry impression that few, if any other shooters could pull off. A reporter noted afterward that Thompson had been practicing his deep threes of late, backing up near the logo at the team’s practice facility in the same kind of way that Curry has for so long. Thompson, whose seemingly-endless swagger is such a unique juxtaposition with his desire to avoid the limelight, grinned when asked about it. “I’ve seen Steph do [that shot] a lot, so I’m just trying to be like him,” he said. “Those are shots that you don’t really want to take that much during the game, but if you make five or six in a row and you feel your guy is off you....” Fire away. With or without Curry, the Warriors just can’t seem to miss.

SPORTS

B R M @rectomercene  R A @reneacostaBM

C1

F

Second of three parts

AR south from the three inter nationa l air ports in Manila, a war continues to

PESO EXCHANGE RATES n US 46.8870

rage: a war against terror. Waged by combined pol ice and military forces, the war has recently unveiled the presence of a group fearfully linked to international terrorist groups. The death last week of two

reported members of the terrorist group Ansar Khilafa Philippines (AKP) fanned belief the Islamic State (IS) has already made its presence in the country or, as what the government maintains, has C  A

GOMES: “Bangladesh expects this money to go fast and they want to see some results. This delay is the only concern.”

@BcuaresmaBM

B

ANGLADESH Ambassador to the Philippines John Gomes, while trying his best to remain diplomatic, could not hide his dismay over the delay in the return of the “money of hardworking people of Bangladesh.” Amid the continued noise created by the cross-border $81-million bank heist from Bangladesh to the Philippine banking system, Gomes told the BUSINESSMIRROR that his country is optimistic that the money will be returned, although they could not understand the drag in the process of the local justice system. His appeal is now directed to the Aquino administration. “I think that this thing should be finished definitely before the next government comes into power. It will be an achievement of this government if they can wrap it up. I am not frustrated. I am not at all thinking this money will never go to Bangladesh…. The only thing is that Bangladesh expects this money to go fast and they want to see some results. This delay is the only concern,” he said.

Gomes added that the government of Bangladesh is grateful for the help extended by Philippine officials, but said the money should be returned to them by the end of this administration’s term. “Now, the date of hearing, the first [hearing] is on the third of May. And then we have to wait and see how much longer it takes for the next hearing. We have faith on the systems over here. The secretary of justice was very nice to me, very cordial. The complete thing should be completed before the next administration comes,” Gomes said. Earlier, casino junket operator Kim Wong has returned some of the stolen money in tranches to the Anti-Money Laundering Council (AMLC). On March 31 the casino junket S “G,” A

ADB, AIIB to cofinance road, water projects in Asia

F

M

C  A

BusinessMirror

UNITED NATIONS

2015 ENVIRONMENTAL MEDIA AWARD LEADERSHIP AWARD 2008

HEAT MELT HORNETS

The Philippines has contested China’s vast claims in the South China Sea at a United Nations tribunal, which is expected to rule soon in what many believe will be an unfavorable outcome for Beijing. China has refused to take part in the proceedings, and there are worries whether it might respond by cementing its island holdings, or even expanding them by fortifying Scarborough, too. Jay Batongbacal, director of the University of the Philippines College of Law’s Institute for Maritime Affairs and Law of the Sea, cited historical documents showing the US ceded the shoal to the Philippines as part of American administered territory at independence in 1946. This is evidence that the shoal is covered by the Mutual Defense Treaty, and thus, the US has an obligation to prevent it from being permanently controlled by China, he said.

R ANKFURT, Germany— The Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB) on Monday agreed to jointly finance projects in the road and water sectors. ADB President Takehiko Nakao and AIIB President Liqun Jin signed a memorandum of understanding (MOA) here on Monday on the sidelines of the ADB’s 49th Annual Meeting of the Board of Governors. The first of the projects that will be cofinanced by the ADB and AIIB is Pakistan’s M4 highway project, which costs $300 million. M4 is a 64-kilometer stretch of motorway connecting Shorkot to Khanewal in Punjab Province. The ADB and AIIB agreed to strengthen cooperation, including cofinancing, at the strategic and technical levels on the basis of complementarity, value added, institutional strengths and comparative advantages, and mutual benefit, the MOU states. “I am very pleased to have this framework of collaboration with a new and strong partner

in Asia,” Nakao said. “The ADB has been working closely with AIIB throughout its establishment process. We will further strengthen our cooperation in promoting sustainable growth, reducing poverty and combatting climate change in the region,” he added. For his part, Jin said he welcomes AIIB’s collaboration with the ADB. “AIIB looks forward to deepening our already strong relationship and expanding our collaboration as we seek to address the significant infrastructure-financing needs in the Asia region,” he said. Through cofinancing, knowledge work and joint policy dialogue with member-countries, the two institutions will work together in the areas, including energy, transportation, telecommunications, rural and agriculture development, water, urban development and environmental protection. The two institutions will undertake regular high-level consultations and joint data collection S “ADB,” A

n JAPAN 0.4415 n UK 68.3847 n HK 6.0446 n CHINA 7.2380 n SINGAPORE 34.8680 n AUSTRALIA 35.5966 n EU 53.7513 n SAUDI ARABIA 12.5025

Source: BSP (2 May 2016 )


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.