BusinessMirror October 17, 2015

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A broader look at today’s business Saturday 2014 Vol.17,10 2015 No. 40 Saturday,18,October Vol. 11 No. 9

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DTI SAYS RELAXING THE STANDARDS WOULD EXPOSE THE AUTO-INCENTIVE PROGRAM TO NONSERIOUS PLAYERS

Govt not lowering CARS hurdles

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he Department of Trade and Industry (DTI) on Friday said it is not keen on relaxing requirements for the availment of incentives for car-parts making under a government program that would grant automakers a total of P27 billion in incentives.

INSIDE

Trade Secretary Gregory L. Domingo said only manufacturers that will make new auto parts will be eligible for the fixed investment support (FIS) incentive under the Comprehensive Automotive Resurgence Strategy (CARS) Program.

“It’s not an option to relax the criteria. If no one registers, it means

how to say ‘I’m Sorry’— and mean it

Tetangco’s Warning Shots Make phl Peso Region’s SteadiesT

only two things—there are no serious players or the program itself is problematic. But we won’t know that until we implement the program,” Domingo said at the sidelines of the Manila FAME. “We don’t want to lower our standards, because we might attract the See “CARS,” A6

Remittances growth to be stable at 5%–BSP

By Bianca Cuaresma

life

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tsipras faces first test since bailout rebellion BusinessMirror

World The

B2-1 | Saturday, October 17, 2015 • Editor: Lyn Resurreccion

Greek Prime Minister Alexis Tsipras gestures as he leads the first cabinet meeting of his new government in Athens on September 25.

Tsipras, at 41, is Greece’s youngest prime minister in about 150 years, won reelection in the early election despite a rebellion in his party after his remarkable policy U-turn in the summer when he broke key promises to fight bailout-linked austerity and instead signed a new bailout with even more tax hikes and income cuts. AP/ThAnAssis sTAvrAkis

Greece’s Tsipras faces first test since bailout rebellion

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THENS, Greece—Left-wing Prime Minister Alexis Tsipras on Friday faces his first test in parliament since a bailout rebellion split his party and triggered a snap general election last month.

Lawmakers will vote on a new austerity reform package to penalize early retirement and expand a widely hated property tax, among other cost-cutting commitments made for a €2 billion

($2.3 billion) loan installment.

The loan is part of a third major bailout agreement with the eurozone lenders, worth €86 billion euros ($98 billion). That July deal saw Tsipras abandon a pledge to

end austerity and alienate a large section of his Syriza party, forcing him to the polls for a second time in eight months.

Greece is now racing to overhaul its troubled pension system and impose a barrage of new cutbacks, struggling to keep pace with bailout targets as it seeks rescue funds for its banks. It also wants improved bailout repayment terms as its massive national debt is set to exceed 190 percent of annual output next year.

The additional austerity measures are expected to keep the country in recession over the next two years and unemployment above 25 percent.

Tsipras, however, faced little dissent

from his party or right-wing coalition partners during a parliamentary debate on the bill that started at committee level on Tuesday. His coalition controls 155 seats in the 300-member parliament, with support from at least 151 required for the bill to pass.

A Communist-backed labor union and a union representing civil servants are planning protests in central Athens on Friday. Six opposition parties in parliament have all pledged to vote against the bill.

A breakaway party formed by politicians who split with Tsipras’s party during the summer failed to get elected to parliament in the September election. AP

V.W. sales in e.U. rise in sept despite emissions scandal

A VolkSwAGen (Vw) Golf 2.0 Tdi is parked at a Vw dealer in Milan, italy, on october 15. italian authorities have searched the headquarters of Vw italia as part of a local investigation into the emissions testing scandal at the German automaker.

The financial police in the northern city of Verona conducted the searches on Thursday and confirmed that there are officials under investigation. AP/LucA Bruno

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ILAN—Volkswagen (VW) sales in Europe rose in September despite the emissions scandal that broke mid-month, but the German automaker’s growth lagged the market, according to statistics released on Friday by the European carmaker’s association Acea.

VW Group sales, comprising all VW brands including its luxury

marquees, rose by 8.4 percent in the EU, while the mass-market VW brand most implicated in the scandal, saw sales rise 6.6 percent, Acea said.

That compared with an overall increase in car registrations of nearly 10 percent to 1.35 million units across the region, the 25th straight monthly increase. While growth this year has been strong, Acea noted the

European market is still far below precrisis levels.

The VW Group, which eclipsed Toyota in the first half of 2015 to become the world’s top-selling car maker, shed European market share, from 23.6 percent in September 2014 to 23.3 percent. Last September, its sales growth exceeded the market.

VW still remains by far the dominant automaker in Europe, well-

ahead of second-place PSA Peugeot Citroën’s 10 percent.

VW’s emissions scandal broke in mid-September when US authorities revealed software that disabled emissions controls except when they were being tested.

German authorities have ordered a recall of all VW cars fitted with the software, affecting 8.5 million diesel cars across the EU. AP

MAlAySiA ArreSTS hAcker linked To iSlAMic STATe GroUP

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UALA LUMPUR, Malaysia—A Kosovo citizen has been arrested in Kuala Lumpur for computer hacking and allegedly providing information about US service members to the Islamic State (IS) group, Malaysian and US authorities said.

Malaysian National Police Chief Khalid Abu Bakar said in a statement late Thursday that the man, in his 20s, was arrested on September 15. Khalid said investigations showed the man was in contact with a senior IS group leader in Syria, and is accused of providing information on US service members after hacking several servers.

Khalid said the man, who entered Malaysia in August 2014 to study computer science at a private institution, would be extradited to the US. In a separate statement, the US Department of Justice identified the man as Ardit Ferizi, believed to be leader of an Internet hacking group called Kosova Hacker’s Security. It said he will stand trial on charges of computer hacking and identity theft violations.

It said Ferizi, known by his

hacking moniker “Th3Dir3ctorY,” allegedly hacked into the computer system of a US-based company and stole the personal information on 1,351 US military and other government personnel.

Between June and August, Ferizi allegedly provided the information to IS group member Junaid Hussain, also known as Abu Hussain al-Britani. On August 11 Hussain posted a tweet, titled “NEW: US Military and Government HACKED by the Islamic State Hacking Division!” which contained a link to a 30-page document, the US statement said.

The post was intended to provide IS supporters in the US and elsewhere with the information for the purpose of encouraging terrorist attacks against those individuals, it said.

“This case is a first of its kind and with these charges, we seek to hold Ferizi accountable for his theft of this information and his role in [Islamic State’s] targeting of US government employees,” Assistant Attorney General for National Security John P.Carlin said in the US statement. AP

Ukraine to sit alongside Russia on UN Security Council

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NITED NATIONS—Ukraine won a seat on the UN Security Council on Thursday and immediately promised to use the platform to wage a political battle against Russia for annexing Crimea and supporting eastern Ukrainian separatists.

The 193-member General Assembly also elected four other countries—Egypt, Japan, Senegal and Uruguay—to the UN’s most powerful body. All five countries were unopposed in their bids for the non permanent seats and will start their twoyear terms on January 1.

Fireworks are expected when Ukraine takes its seat alongside permanent member Russia.

Ukraine’s Foreign Minister Pavlo Klimkin called the election a very important day for Ukraine and the UN in its struggle for peace “under Russian aggression—and fighting against Russian aggressions.” He said the country is proud of the 177 votes it received, calling the strong support “a sign

of world solidarity with Ukraine.”

Klimkin was in New York earlier this week for a meeting with UN ambassadors and letting the world know that relations with Russia will be anything but conciliatory.

“Election to the Security Council is of special importance for us as a backdrop of the ongoing Russian aggression,” Klimkin told reporters on Tuesday. “For the first time, we have an absolutely unique and unimaginable situation...that a permanent member of the Security Council is an aggressor in Ukraine, waging a hybrid war against Ukraine.”

In an interview with the Associated Press after Thursday’s vote, Klimkin stressed that “the Security Council is not just about settling scores.”

It’s about promoting the UN Charter and its commitments to peace, sovereignty and human rights, he said, and Ukraine is ready to work with other council members “to bring stability and security” in Africa, the Middle East and elsewhere. AP

the world

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he Bangko Sentral ng Pilipinas (BSP) shrugged off concerns over the contraction of remittances in August, saying that the growth in the cash sent home by overseas Filipinos this year will continue to be stable at around 5 percent.

BSP Deputy Governor for the Monetary Stability Sector Diwa C. Guinigundo said in a text message that the decline in remittance inflows seen in August this year, as reported by the central bank earlier, will be temporary.

“I believe remittances will continue to be stable at around 5 percent for 2015. We continue to see robust deployment to different regions and territories. Filipino skills remain big in demand,” Guinigundo said.

The BSP reported on Thursday that cash remittances contracted by 0.6 percent in August compared to August last year. While the decline was at a minimal level, it was the first

time in 12 years that the cash sent home by Filipino migrant workers dwindled on an annual basis.

The last time that remittances declined was in April 2003. The growth of monthly remittances has been relatively shaky in 2015. On a month-on-month basis, growth hit a low of negative 0.6 percent to a high of 11.3 percent in the first eight months of the year. This is contrary to the growth pace seen in 2014, which settled mostly on the 5 percent-to-8 percent range.

In fact, Guinigundo said that in the last quarter of the year, the BSP expects “renewed heavy inflows, because of the holidays.”

“Despite the soft global growth, OFWs [overseas Filipino workers] continue to find opportunities because of their diversified skills and competencies,” Guinigundo said.

Cash sent home by OFWs hit $2.044 billion. This is lower compared to both the previous month’s inflows and the inflows seen in August last year.

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emper your animal spirits.”

That was the message from Philippine central bank Governor Amando M. Tetangco Jr. to a room full of foreign-exchange traders at a Bloomberg forum in Manila last month. The advice—and the unspoken threats that underpinned it—is an example of how the man in charge of the monetary authority for a decade uses soft power to contain swings in the peso and give local businesses more confidence in exchange rates than their Asian peers.

“If the banks see the hand of the central bank, they’ll

think twice going against it,” said Joey Cuyegkeng, an economist at ING Groep NV in Manila. “In certain cases, moral suasion is very effective; and, in certain instances, direct intervention is more effective. It’s all part of the tools.”

Tetangco has been Southeast Asia’s most successful proponent of spoken intervention, sparing precious currency reserves as the Philippine currency’s one-month implied volatility—a gauge of expected fluctuations used to price options—held at a regional low of 5.22 percent.

Continued on A6

PHL, V20 members present climate-change action plan

By Dave Cagahastian

T BusinessMirror media partner

he Philippines and other developing countries belonging to the so-called Vulnerable 20 (V20) group presented to the World Bank their call for bigger funding from industrialized countries to mitigate the effects of climate change.

At the annual meetings of the board of governors of the World Bank

PESO exchange rates n US 45.7960

PURISIMA: “The introduction of the use of carbon footprints to cover the costs will facilitate fair burden sharing between the public and private sectors. ”

Group last week in Peru, Finance Secretary Cesar V. Purisima pushed for an efficient international carbon-footprint mechanism that will measure the carbon-footprints of the public and private sectors, and impose more burden on those with bigger carbon footprints.

“The introduction of the use of carbon footprints to cover the costs will facilitate fair burden sharing between the public and

private sectors. This can be made feasible by adopting common, harmonized standards to measure and publicly disclose the carbon footprints of investment portfolios on an annual basis,” Purisima said, outlining the plan of action that the V20 has adopted in its inaugural meeting, also in Peru last week.

“The Fund can develop a simple, transparent and credible methodol-

ogy for carbon-footprint accounting and monitoring systems. On the other hand, the Bank can provide credit enhancements and continue catalyzing issuances of green bonds to broaden currency and maturity options. The Bank can also lead by example and initiate tracking of carbon footprints from projects financed by the World Bank Group,” he added.

Continued on A6

n japan 0.3852 n UK 70.9380 n HK 5.9092 n CHINA 7.2165 n singapore 33.2192 n australia 33.5330 n EU 52.1204 n SAUDI arabia 12.2155

Source: BSP (16 October 2015)

News

A2 Saturday, October 17, 2015 • Editor: Dionisio L. Pelayo

BusinessMirror

news@businessmirror.com.ph

Court upholds Comelec residency ruling on ‘balik-Pinoy’ candidates briefs

C.A. orders indictment of tabloid execs

THE Court of Appeals (CA) has ordered the Regional Trial Court (RTC) in Manila to proceed with the proceedings of the complaint filed by the group of evangelist Bienvenido Abante against a tabloid newspaper for alleged obscene publications and exhibitions.

In a 10-page ruling written by Associate Justice Normandie Pizarro, the CA’s 13th Division denied the petition for certiorari filed by Gloria Galuno and Edwin Alcala, editor in chief and circulation manager, respectively, of Hataw! No. 1 Sa Balita newspaper.

In the complaint filed by Abante’s group, both pastors and preachers of different Bible Baptist Churches in Metro Manila, they alleged that sometime from September 2007 to July 2008, Hataw and other tabloid and magazines either printed, among others, and sold with obscene, pornographic pictures, and had no educational and scientific value.

The Manila Prosecutor’s Office (MPO) found enough evidence to indict the management of Hataw and other newspapers for violating the Revised Penal Code and other decrees before the RTC in Manila.

Galuno and Alcala filed their motion to quash before the Manila RTC, but was denied until the case reached the CA. In denying the petition, the CA in its ruling said “The petitioners failed to show that the factual circumstances fall under any of the exceptional circumstances that would justify their immediate resort to a petition for certiorari.”

More personalities file COCs for senator SIX well-known personalities in the government, the media and showbusiness formalized their bid for a Senate seat on the last day of filing of certificates of candidacy (COCs) on Friday at the Commission of Elections office in Intramuros.

Those who filed their COCs on Friday morning include administration bets former Energy Secretary Carlos Jericho L. Petilla and Technical Education and Skills Development Authority Director General Joel Villanueva.

Petilla said once elected, he would focus on improving the education, health and energy sectors, while Villanueva vowed to advocate for jobs and quality technical education.

Dismissed Special Action Force Commander Getulio Napeñas and media broadcaster Rey Langit also filed their COCs under the banner of United Nationalist Alliance.

Napeñas said he decided to run for senator because of public clamor to provide justice to the victims of the Mamasapano incident where 44 SAF members were killed. For his part, Langit said he would represent the media in Senate, as he vowed to focus on the programs for overseas Filipino workers, education and health.

Television host and actor Edu Manzano, former chairman of the Optical Media Board, also filed his COC. Running as independent, Manzano was accompanied by his children during the filing.

If elected, Manzano said he would focus on tax reduction of individuals, increase revenue collection and improve the education system.

Lawyer Levi Baligod, the legal counsel for whistle-blower Benhur Luy, also filed his COC. He vowed to fight corruption once elected. PNA

NGCP assures preparedness on effects of Typhoon Lando CITY OF ILAGAN, Isabela—The National Grid Corp. of the Philippines (NGCP) has assured its service areas of prompt readiness to the effect of Typhoon Lando, which is threatening Northern Luzon.

Lawyer Cynthia Alabanza, NGCP spokesman and adviser for External Affairs, posted in the NGCP facebook account, stated that the NGCP has placed necessary preparations and precautions to minimize the impact of Lando on transmission operations and facilities of the NGCP. Alabanza said preparations included ensuring the reliability of communications equipment, availability of hardware materials and supplies necessary for the repair of damages to facilities, including the positioning of line crews in strategic areas, to facilitate immediate restoration work after the calamity.

She said the NGCP’s Integrated Disaster Action Plan (IDAP) prescribes the necessary preparations and other procedures to ensure the readiness of all power transmission facilities expected to be affected by the passage of the weather disturbance.

The NGCP official said the Overall Disaster Command Center monitors all power restoration activities, reports and updates from the Regional Command Centers in North Luzon, South Luzon, the Visayas, and Mindanao, whichever is directly affected by the weather disturbance. PNA

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By Joel R. San Juan

HE Supreme Court (SC), in a vote of 11-0, on Friday ruled that persons who renounced their foreign citizenship must still comply with the one-year residency requirement under Republic Act (RA) 7160, or the Local Government Code, before seeking an elective post.

Thus, in a decision written by Associate Justice Diosdado Peralta, the Court affirmed the orders issued by the Commission on Elections (Comelec)-First Division and the Comelec en banc on May 3, 2013, and the November 6, 2013, respectively, nullifying the certificate of candidacy (COC) of Rogelio Caballero, who won in the mayoral race in the town of Uyugan, Batanes in 2013.

The Court agreed with the Comelec that, while Caballero complied with the requirements of RA 9225, otherwise known as the Citizenship Retention and Reacquisition Act of 2003, since he had taken his Oath of Allegiance to the Philippines and had validly renounced his Canadian citizenship, he failed to comply with the other requirements provided under the said law for those seeking elective office.

Specifically, the SC noted that w he n a n at u r a l - b or n Fi l ipi no with dual citizenship seeks for an elective public office, residency becomes material.

The ruling came amid the Senate

Electoral Tribunal’s (SET) ongoing hearing in connection with the disqualification complaint filed against Senator and 2016 presidential candidate Grace Poe on the ground that she is not a natural-born Filipino citizen and for lack of residency.

The SET, however, has barred complainant Rizalito David from questioning Poe’s residency in connection with her eligibility to sit as Senator for his failure to file a complaaint within the required 10-day period after proclamation.

However, several law experts expressed belief that the issue on the residency of Poe may still be revived after she filed her COC for president.

Poe’s c r it ic s h a s quest ioned raised the question on whether she has met the residency requirement for a presidential bet under the Constitution.

Article VII, Section 2 of the Philippine Constitution requires a presidential candidate to be a resident of the Philippines for at least 10 years immediately preceding such election.

POE

Poe has insisted she has met the 10-year residency rule because she returned to the country in 2004 after her father passed away. She, however, did not renounce her US citizenship until 2010, when she was appointed to the Movie and Television Ratings Classification Board.

As late as 2009, she was still using her US passport to travel to and from the Philippines, according to Bureau of Immigration records.

In the case of Caballero, the Court pointed out that Section 39 of RA 7160 requires that the candidate must be a resident of the place where he seeks to be elected at least one year immediately preceding election day.

The Court explained that, while Caballero was a natural-born Filipino who was born and raised in Uyugan, Batanes, his naturalization in Canada resulted in an abandonment of domicile in the Philippines.

Caballero, in his petition filed before the Court, argued that the Comelec erred in nullifying his COCs on the ground of lack of residency.

DOTC, LRTA to add 120 brand-new LRVs to LRT 1 T

HE Department of Transportation and Communications (DOTC) and the Light Rail Transit Authority (LRTA) are procuring 120 brand-new Light Rail Vehicles (LRVs) for LRT Line 1, which currently runs from Roosevelt Avenue in Quezon City up to Baclaran in Parañaque City and is about to be extended to Bacoor, Cavite.

T he project w i l l be f u nded through a loan extended by the Japan International Cooperation Agency (Jica). The bid will be exclusive to Japanese-led companies or consortia.

“With the upcoming 11.8-kilometer extension of LRT 1 comes the need to add more trains to the system. This will enable us to meet demand, and to maintain the right headway between arriving trains at the stations. This is part of the massive modernization and upgrading

efforts that have started not only for LRT 1 but for all our railways,” said Transportation Secretary Joseph Emilio A. Abaya.

These 120 LRVs will be configured in 30 four-car train sets, to allow the rail line to accommodate up to about 750,000 passengers daily.

The winning bidder will cover the technical design of the coaches, procurement of materials required for manufacturing the LRVs, and ensure compliance with technical specifications through testing.

The supplier will be required to submit a project management plan, design and development plan, as well as an inspection, testing and commissioning plan, in order for implementation to run smoothly.

Prospective bidders may begin purchasing bid documents today, October 16, while a prebid conference is scheduled on October

30. The submission and opening of bids is scheduled on December 14.

The winning bidder will have three years to complete the delivery of the new LRVs, which will be done in two tranches: the first delivery is set in 2017, and the second in 2018.

Meanwhile, the Light Rail Manila Consortium (LRMC) will build the Cavite Extension over the next four-and-a-half years, making the entire line operational by the fourth quarter of 2020.

LRMC has been operating and maintaining the existing LRT 1 system since these functions were handed over by LRTA last month.

LRTA remains as regulator of the railway, and along with the DOTC, as implementing agency of the 32year public-private partnership (PPP) concession agreement with LRMC. PNA

Typhoon Lando winds threaten Aurora, Isabela–Pagasa

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ANILA—Aurora and Isabela provinces in Northern Luzon must guard against possible damage to structures and vegetation there, as well as rough waters off these areas due to winds from Typhoon Lando (international code name Koppu).

State weather agency Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) alerted on October 16 both provinces to such possibilities, expecting there in 24 hours winds of 61 kilometers

to 120 km per hour.

“In general, the winds may bring light to moderate damage to exposed communities,” Pagasa said in its 11 a.m. severe weather bulletin released on Friday.

Aurora and Isabela are already under public stormwarning Signal No. 2.

Among possible consequences of Lando winds there are roofs being blown off, trees and posts being toppled and shrubbery sustaining “considerable damage,” Pagasa noted.

“Rice and corn may be

adversely affected,” Pagasa also said. The agency, likewise, warned waves in open seas bordering Aurora and Isabela

can rise 4.10 meters to 14 meters so fisherfolk must avoid venturing into such waters.

“Storm surge is possible in coastal areas there,” Pagasa continued.

According to Pagasa, Lando was 585 km east of Aurora’s capital, Baler municipality, as of 10 a.m. on Friday.

Lando packed maximum sustained winds of 130 kilometers per hour near its center and gustiness of up to 160 kph, Pagasa noted.

“Estimated rainfall is from heavy to intense within the

typhoon’s 550-km diameter,” Pagasa also said.

It forecast Lando to move west at 15 kph.

The agency expects Lando to be 240 km east of Baler by Saturday morning, October 17.

By October 18, Pagasa forecast Lando to be 80 km north of Baler.

Isabela lies north of Baler and borders Aurora’s northern tip. Weathermen expect Lando to cross Northern Luzon this weekend and be some 60 km south-southeast of Laoag City by Monday morning. PNA

He claimed that prior to the filing of his COC on October 3, 2012, he took an Oath of Allegiance to the Republic of the Philippines before the Philippine Consul General in Toronto, Canada, on September 13, 2012, and became a dual Filipino and Canadian citizen pursuant to R A 9225.

On October 1, 2012, he renounced his Canadian citizensh ip b e fore a not a r y publ ic in Batanes to pursue his political ambition.

Caballero insisted that he did not lost his domicile of origin despite becoming a Canadian citizen, as he merely left his province temporarily to pursue a brighter future for him and his family.

He insisted that he went back to Uyugan during his vacation while working in Niagara, California, and finally in Canada.

But, the SC pointed out that in Coquilla v Comelec, it ruled that naturalization in a foreign country results in abandonment of domicile in the Philippines.

“Hence, petitioner had effectively abandoned his domicile in the Philippines and transferred his domicile of choice in Canada.

His frequent visits to Uyugan, Batanes, dur ing his vacation from work in Canada cannot be considered as waiver of such abandonment,” the Court ruled. “ The Court found that the Comelec committed no grave abuse of discretion in canceling petitioner’s COC. It also found that petitioner made material misrepresentation when he stated that he had been resident of Uyugan, Batanes, for one year prior to the May 13, 2013, elections,” it added.

Palace: Up to new DOJ chief to finish Mamasapano case

By Butch Fernandez

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ALACAÑANG is relying on new appointed Justice Secretary Benjamin Caguioa to go after still uncharged and scot free killers of the 44 Special Action Force (SAF) commandos massacred by Moro rebels in Mamasapano, Maguindanao, on January 25.

“The Department of Justice (DOJ) is taking continuing action to pursue justice for the fallen SAF troopers,” Communications Secretary Herminio B. Coloma Jr. said on Friday.

Coloma issued the assurance after former Justice Secretary Leila M. de Lima failed to wrap up the case against all the suspects who took part in the mass killing of SAF Commandos, before de Lima resigned to run for senator in 2016.

The Palace reaction was sought a day after former President Fidel V. Ramos, speaking at a fund-raiser for the schooling of SAF 44 orphans, lambasted the Aquino administration’s failure to bring justice to the fallen commandos.

“Maybe we are just being fooled.

More so, they are fooling victims and their families. Where is the follow up?

Suddenly all announcements have stopped,” Ramos lamented. “Is this because there are some new people coming in at DOJ?” he asked. The government had sent the slain SAF commandos on a mission to apprehend Malaysian terrorist Zulkifli bin Hir, alias Marwan, said to be a high-value target who was believed being coddled by Moro rebels.

Marwan and his Filipino sidekick were found staying in a house within a barangay believed to be controlled by the Moro Islamic Liberation Front with whom the Aquino administration had a cease-fire agreement.

As part of the peace deal, President Aquino’s key aides have mounted lobbying efforts in Congress to quickly pass the controversial Bangsamoro basic law (BBL) creating a new entity to replace the soon to be abolished Autonomous Region in Muslim Mindanao, but the BBL encountered rough sailing in the Senate and the House following the Mamasapano Massacre.

BusinessMirror Special Feature

www.businessmirror.com.ph

Saturday, October 17, 2015 A3

THE MAGIC LIVES FOREVER AT ENCHANTED KINGDOM

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HEN we think of magical experiences and enchanting memories, only one place in the Philippines should come to mind, and this would be no where else but Enchanted Kingdom—the country’s first and so far, the only world-class theme park.

The Philippines’ iconic theme park first opened to the public on October 19, 1995 in the City of Santa Rosa, Laguna, boasting of rides and attractions never before seen in the country in terms of variety, size and magnitude.

Throughout the past 20 years or so, Enchanted Kingdom has continuously brought magical memories and experiences through its thrilling rides and attractions, colorful and varied merchandise, sumptuous food, various entertainment shows and superlative service to guests of all ages, family and friends, schools and corporate gatherings.

The Magical Dreams

not just be a consolidation of rides, but a park with a story, characters and zones, which people will enjoy as an escape from reality”, recalled Mr. Mamon.

In 1993 the business partners Mario and Rafaelito purchased 17 hectares of land, visible from the highway and just half hour drive from Metro Manila, for their magical kingdom which will be the first of its kind in the Philippines.

They sought advices from both local and international experts and consultants to administer world-class construction and execution. Landmark Entertainment Group conceptualized the theme park and modeled after the Knott’s Berry Farm in California. The goal was to create a fantasy land yet feel the warmth and comfort of a home.

The theme park was so carefully designed with 7 themed zones to provide a different magical experience per zone.

The park was designed by Gary Goddard of Landmark Entertainment Group.

EK@20 and beyond

THE concept of the magical world of Enchanted Kingdom started with a simple dream between two friends named Cesar Mario O. Mamon and Rafaelito E. Minguez in 1992. These 2 men dreamt and perceived a kingdom where people can feel the fun and magic to escape from everyday’s formidable and challenging world of reality.

There were no theme park then and so we realized there was an opportunity for a fixed amusement facility that is more in the mold of Disneyland or Knott’s Berry Farm. A destination which would

AS Enchanted Kingdom celebrates its Emerald Anniversary on October 19, 2015, it also signals the start of its grand plan to redevelop and expand its facilities.

The management is preparing for indeed big and ambitious future plans for Enchanted Kingdom. Nevertheless, the theme park was a product of a dream and thus continuously to dream bigger. It is believed that EK’s longevity goes together with endeavors of continued efforts to enhance and improve the world-class theme park.

“Over the past twenty years, we have become a household name and have established a loyal following such that we can now position ourselves to offer more to our countless guests, expanding the age range of these offerings with more things to see and do than just rides and attractions.” remarked Mr. Cesar Mario

Messages MALACAÑAN PALACE Manila

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Y heartfelt congratulations to the Enchanted Kingdom Inc. as you celebrate your 20th

Anniversary.

When you first opened your gates to the Filipino public in 1995, you promised them “the

magic that stays with you.” Twenty years later, Enchanted Kingdom continues to welcome people from all walks of life, tr.ansporting them to a world of fun and extraordinary experience.

Thank you for the two decades of bringing joy into the lives of our countrymen, especially of children and families that

chose to share the momentous occasions in thaeir lives with you; your world-class service makes these moments even more meaningful and memorable to your patrons. May you constantly explore the variety of entertainment you can offer and cater to the interests of tour ists, both local and international; may you create attractions that resonate with contemporary Filipino

O. Mamon, EK’s Chairman & President and Immediate Past Chairman of the International Association of Amusement Parks & Attractions (IAAPA). “We will kick-off the middle of next year (2016) with a unique, one of a kind attraction never before seen in the country and one of the first and largest in Southeast Asia.”

Mr. Mamon added that the longterm plan is foreseen feasible in the next few years. Hence, it will bring an expansion of the existing theme park with more zones and more rides and attractions, including a signature zone to be known as Eldar’s Village, a Filipino Cultural Heritage Zone and an Extreme Action Zone all located around a manmade lake that will also be the venue for a variety of entertainment presentations.

Also in the pipeline is a world-class water park facility complete with the latest in water park attractions and its own themed hotel facility. A sizeable retail, dining and entertainment area is also planned to complement the expanded theme park and water park.

This area will also have several hotels and a convention facility. Rounding off the expansion will be an institutional campus for knowledge and training on various fields that are related to the amusement and attractions industry such as animation, film production and post-production facilities.

Enchanted Kingdom is taking flight as it celebrates its 20th anniversary. It is preparing for bigger and better things in the future for all its guests from a single day attraction to a weekend destination.

EKsperience the Magic Card

popular culture while preserving our cherished tradition of tight kinship and harmony.

We live in exciting times: A wave of optimism has rein igorated the archipelago, and our collective confidence is at its

peak. We are breaking away from the shackles of a past of mistrust and doubt, and herald a dawn of revitalization upon our land. We, likewise, eagerly await what this new decade in your continuing legacy will bring us. May you remaih with us as, together, we weave the Filipino people’s dream of an empowered, inclusive Philippines into a reality.

May you have a happy and stirring anniversary.

BENIGNO S. AQUINO III President

REPUBLIC OF THE PHILIPPINES Office of the Vice President

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Y warmest regards and congratulations to Enchanted Kingdom as you celebrate your 20 th

anniversary. It has been 20 years since the magic began and today Enchanted Kingdom is still the one and only world-class theme park in the country.

The devotion of EK's staffto keep families returning for the rides, shows and one-of-a­kind attractions is commendable. The teamwork put into making sure that guests enjoy their visit is truly admirable.

To the staff, managers, operators and the whole body of Enchanted Kingdom, congratulations for 20 years of excellent

customer service. May you continue to be guided by the Lord Almighty as you spread joy to families and ensure that the magic continues to live on. Congratulations once again and have a wonderful celebration!

JEJOMAR C. BINAY Vice President

ENCHANTED Kingdom exerts great effort to reinvent its magical offerings so they can always present fresh, new and exciting experience. It constantly delivers the magical experience to its guests at its finest by upholding high satisfaction standards and innovation. For 20 years, this has been the commitment of Enchanted Kingdom for keeping the magic alive.

A very special loyalty program has been launched to bring VIP treats for beloved guests. This is first for the theme park and attraction industry in the country.

“EKsperience The Magic Card” is especially designed to entitle the holders to have unlimited admission and exclusive discounts and premiums on EK Day Passes, food, special events, merchandise and birthday packages all year-round. This can be availed for as low as Php 2,500 with one free gift upon purchase. The EKsperience the Magic Card gives the cardholder several privileges and benefits that are truly irresistible. This includes special promos

and perks from merchant partners such as Acacia Hotel, Angel’s Corn, Bioessence, Browhaus, Buko Delite, Caliburger, Dairy Queen, Dimsum N’ Dumplings, Fruit Magic, Frutti Delite, Great Image Photography, Hawk Bags, Heima, Ice Monster, Karate Kid, Lil Orbits, One Tagaytay Place Hotel Suites, Pizza Hut, Potato Corner, Res| Toe|Run, Sarabia Optical, Shakes Station, Shawarma Shack, Seda Hotel Nuvali, Sesou Nature Source,

Strip, Suesh, and Treetop Adventure Nature Park.

EKsperience the Magic Card member will be eligible to receive periodic mailers and e-newsletters and other communications about Enchanted Kingdom’s products and services, including events information, opportunities and special offers available only for members. For more details, e-mail at EKmagiccard@ enchantedkingdom.ph.

A4 Saturday, October 17, 2015 • Editor: Angel R. Calso

Opinion BusinessMirror

editorial

Why is Subic Bay successful?

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hen the United States military bases at Subic Bay and in Pampanga were brought back to the Philippines, it was—or should have been—a golden opportunity. But disaster, both natural and human, intervened to turn gold into lead.

The problem with the Philippines is not that everything is terrible, as so many would like us and the world to believe, but that there are so many inconstancies that favor negative assessments. Most social programs fail to achieve the desired results, and then we have the Pantawid Pamilyang Pilipino Program, which is a success. So many politicians are a disgrace to the country, and then we also have the like of the late Sen. Joker Arroyo and people like Blas Ople and Raul Roco as role models.

It is the inconstancies of accomplishment that is keeping us down in some areas and killing us in others. The Philippines is unpredictable. Foreign direct investment has been a bad joke for decades and yet, for example, the call-center business is a stunning and enviable success.

However, we are not the only nation with this problem. Thailand has been trying for 50 years to achieve political stability under its constitutional monarchy but cannot seem to get it together, needing regular political intervention by the military. Maybe it is simply a matter of geography being next to the US, but Mexico is a narco-state whether they like that description or not.

The Subic Bay Freeport Zone (SBFZ) should have been an economic and investment jewel in the crown from the first day. The reason it was not was because there was little vision, too much political power infighting, and no thought-out long-term plan. Was it to be a tourist zone, a shipping-transit harbor, or a manufacturing free port? Like a child wanting to eat the cake, ice cream and candy all at the same time, the government was not able to focus and develop a single goal.

Instead, the country saw a failure in all three areas.

Nevertheless, over time, the SBFZ has finally found its legs, and is moving forward. Once again, Subic has been counted among the world’s best by being crowned winner of the Asia region, as well as picking up the award for best zone in South Asia and Southeast Asia. This award is given by fDi Intelligence, a division of the Financial Times Ltd. The SBFZ was commended also for its infrastructure and its ability to attract reinvestment. In our opinion, all the credit should go to the Subic Bay Metropolitan Authority. We offer our congratulations to its chairman, Roberto V. Garcia, and his team.

We will not second-guess why the SBFZ is doing so well in its appointed task. But we will note that the SBFZ is 110 kilometers north of Metro Manila.

Maybe the key to success is to get as far away from the seat of the national government as possible. Perhaps, we should ask Gov. Joey S. Salceda of Albay or Mayor Rodrigo R. Duterte of Davao City about that.

Why isn’t the stock market going up?

John Mangun

OUTSIDE THE BOX

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he stock-trading laptop is not booting up properly. My wife’s crazy toy poodle will not stop with that annoying barking. And there is a typhoon coming when I am having the house painted. No, I am not in a good mood. So, it is absolutely perfect that I want to talk about why the Philippine stock market is not going up.

Since the last full trading week in August, when the Philippine Stock Exchange Composite Index (PSEi) made its massive break lower, the PSEi has traded basically between 7,150 and 6,850, or a 300-point range. Three hundred points is not a big deal. It is only a 4-percent range from top to bottom.

But the two notable factors are that trading volumes are low, and we seem to be stuck in a range while still experiencing high volatility of 3-percent and 4-percent net weekly changes. Further, the unfortunate stock-brokerage analysts who have to be quoted every day in the newspapers are also stuck with trying to come up with reasonable excuses when there are none.

For the last two months, the rationale for stock-price movements has

been always the same. If the market is up, it is because the US Federal Reserve (the Fed) is not going to raise interest rates anytime soon. If the market is down, it is the fault of China’s continuingly bad economic numbers and outlook.

Against the twin dark forces of the Fed’s interest-rate policy and China is the Philippine economy, which is doing great or not depending on how you look at it.

However, the fact is, to say that stock prices are up because of the Fed, down next week because of China and up the following week because of the Fed, is either nonsense or PSE investors should be “inside Mandaluyong” at the National Center for Mental Health.

Since stock prices move based on what the majority of trading partici-

Unreliability of the study Cecilio T. Arillo

I

database

F there’s anything to learn from the latest Oxford Economics (OE) study on illicit tobacco trade released recently in Hong Kong to a selective group of mediamen, it is its unreliability as a reference for taxation as it drew a sharp retort from no less than Internal Revenue Commissioner Kim S. Jacinto-Henares.

Henares branded as biased and inaccurate the study that the government lost last year more than P22 billion in revenues due to rampant consumption of untaxed cigarettes.

She cited a World Bank study which showed that only 5 percent, not 19 percent as claimed by OE, of the total cigarette consumption yearly was sourced from the illicit cigarette trade.

Henares said the study made by OE is biased, because it was commissioned by a big cigarette producer who strongly opposed the passage of the “sin” tax law.

Although the revenue chief did not elaborate to avoid being dragged into a trade war between the multinational company and its small competitor, Mighty Corp., which the former has been repeatedly suspecting of engaging in trade malpractices to increase its market share and profits.

What prompted Henares to react quickly was that this is not the first time that OE came out with such an unreliable study, especially

at a time when revenue collections from the sin-tax law tremendously increased over the past few months and in the previous years, and, thus, debunked advocates of illicit trade.

There were three other highly questionable studies and reports on illicit trade that were also discredited not only by Henares but by the World Bank, World Health Organization (WHO) and the South East Asia Tobacco Control Alliance, equally reliable authorities on tobacco taxation and illicit trade.

One, is the AC Nielsen Report, which “estimates” illicit cigarettes using a questionable survey method. To date, nobody, except the multinational company, has seen an actual copy of the study. No government agency has been furnished with one, as well.

Two, is the Asia-11 Illicit Tobacco Indicator that you can throw away after reading the disclaimer that says: “ITIC [International Tax and Investment Center] and OE prepared the report in accordance with specific terms of reference agreed

pants are doing at any given time, it is impossible to believe that money flows are that psychotic even on the PSE, known for some unusual habits.

The motivation for buying anything, including shares, is liking the product and the price you must pay. You may buy an ugly shirt if the price is low enough and you may buy an incredible shirt even if the price is “high.” But notice the one variable is the price you must pay.

Some investors are fond of quoting Warren Buffett, who said, “It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.” But do you see the word “stock” in that quotation? There are some wonderful companies listed in the PSE with stock prices that are fair and going down. I would rather buy a “fair” company at a “wonderful” price that is going higher.

While we like to think that prices go down on selling pressure and up on buying pressure—as I’ve said before many times—buyers determine the price. No matter how many sellers there might be at a particular price, the price will continue to go higher as long as buyers are willing to pay more.

On the downside, no matter how few sellers there might be at a particular price, the price will go lower as long as there are not many buyers.

The PSEi has been range trading between 7,150 and 6,850, because buyers leave the market at 7,150 and

between Philip Morris Asia Ltd., an affiliate of Philip Morris International Inc. [PMI] and ITIC. PMI has provided financial support for the report. However, ITIC and OE assume all responsibility for the report’s analysis, findings and conclusions.

“The report is to serve as a public policy resource pursuant to ITIC’s mission. Nevertheless, should any party choose to rely on the report, they do so at their own risk. ITIC and OE will not accept any responsibility or liability to any claim in respect of the report.”

Three, is the Senate Tax Study-Research Office report that was obviously twisted by the PR guys of the multinational firm to its favor. The report itself offers the recommendations that the data therein is inconclusive and subject to further analysis whether there are taxes and duties leakages.

The Southeast Asia Tobacco Control Alliance also found out that: n The report failed to mention that, even according to its own results, the majority of countries (six out of 11) compared over time experienced a decline in the volume of illicit trade. n Nowhere in the report is it mentioned that for the majority of countries (four out of seven) where the share of illicit consumption in total consumption of cigarettes increased between 2012 and 2013, there was no tax increase in 2013. Such result might have undermined the notion that tax increases drive increases in illicit trade, a key message of the report.

Finally, the report is full of errors and mistakes, which is rather surprising given the “commercial” quality and glossy graphical presentation of the results. For example, the

come in at 6,850, regardless of what the sellers might be doing.

Now you are probably going to go all analytical on me and try to explain the thinking behind those particular turning points on the PSEi. Simply stated, now we can go back to Buffett. Since August, 7,150 has been a “bad”—not even “fair”—price and 6,850 has been a “wonderful” price.

But, to be fair, it is acceptable to want to know the why of those particular prices, but you can’t do it with any accuracy.

No stock-market analyst can possibly forecast investor sentiment of “wonderful” and “fair” or the effect on the PSE based on a Fed interestrate increase tomorrow or maybe in October 2016. You have a better chance accurately predicting today the winners for senator next May. Unless you have joined a contest where you win a prize if you forecast the PSEi at a certain date in the future —even Monday—and why it will be at that price, your only concern should be, right now 6,850 is wonderful and 7,150 is not. And that is the reason the PSE is not going higher.

E-mail me at mangun@gmail.com.

Visit my web site at www.mangunonmarkets.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis tools provided by the COL Financial Group Inc.

report does not make any distinction between smoking incidence and smoking prevalence, even though these are two very different concepts: prevalence is the proportion of a population that smokes, while incidence measures how many people per year begin to smoke.

It also confuses “sales” and “consumption,” two fundamental concepts on which the calculations are based. In short, as was true for the prior Asia-11 Report, the reliance on potentially biased data, combined with the lack of transparency about methods employed, results in a study whose estimates are of questionable value. We would caution any stakeholders against relying on this report when assessing the trade in illicit cigarettes in their country or in the region.

Mighty’s rival should be reminded that it is violating not only laws made by Congress (Republic Act [RA] 9211 and its interagency committee, implementing regulations and RA 7394 on unfair competition and deception), memoranda between government agencies and Article 5.3 of the WHO-Framework Convention on Tobacco Control (WHO-FCTC).

The country is a signatory to this government noninterference convention in 2004.

In essence, the WHO-FCTC recognizes that tobacco industry interference poses the single greatest threat to tobacco control. It has been documented that the big ones (multinational) in the tobacco industry have used self-serving strategies to subvert, hinder and prevent tobacco-control efforts at the start of the illicit trade campaign.

To reach the writer, e-mail cecilio.arillo@ gmail.com.

opinion@businessmirror.com.ph

Opinion

Transportation for all

‘Laudato Si’

BusinessMirror

Rev. Fr. Antonio Cecilio T. Pascual

SERVANT LEADER

Guillermo M. Luz

I

N preparation for the Asia-Pacific Economic Cooperation (Apec) CEO Summit this November in Manila, we (the Apec Business Advisory Council, or Abac) have organized a series of special dialogues between ministers and CEOs on a wide range of topics. So far this year, there have been dialogues on trade, life sciences, disaster management, services, cities, finance, and small- and medium-scale enterprise.

Last week in Cebu, we met with transport ministers to discuss “inclusive mobility.” At first glance, even I couldn’t understand what it was exactly referring to. However, by the end of an engaging discussion with transportation and logistics company CEOs over one afternoon and a dialogue with ministers the following morning, I had a newfound appreciation for the topic.

Three trends seem to be driving the need for better mobility for people and goods. The first is basically demographics: The world’s population is growing. The second is urbanization: more people are flocking to cities. However, a significant number of people still live in far-flung areas. And third: the creation of free-trade areas and the expansion of supply chains (and its effect on the shipment of intermediate goods as opposed to purely raw materials or finished goods) is driving demand for transport resources.

The basic emerging philosophy behind inclusive mobility is putting people at the center of the transport agenda. This philosophy has far-reaching impact on public policy, as well as technology and innovation. The greatest impact will be that this requires a “wholeof-government” approach rather than the traditional approach followed by many countries through their respective departments of transportation. In some Apec economies, they have started considering rebranding (and repurposing) their departments of transportation into departments of logistics or mobility. Rather than looking at different transportation channels—by air, by land, by sea—they now look at intermodal mobility.

Once you begin to look at inclusive mobility as a whole-of-government challenge, then you begin to think that governments need to look beyond physical infrastructure. Infrastructure is, of course, important. But so are services, design and policies to promote mobility. The bottom line is that policies need to be consumer-centric or people-focused rather than operator-centric.

Governments can, for instance, provide many options for mobility: sidewalks, elevated walkways, bicycle paths and bicycle-sharing systems, mass transit and good roads. The presence of many options ensures that people can pick the means of mobility that they find affordable and accessible to them.

Technology and innovation can play a major role. Oftentimes, even in cities that have the most masstransit systems in the form of efficient buses, subways, light rail, rail and roads, there is always the “last mile” challenge. How do people or goods get from their last train, bus, or subway stop to their homes?

Sometimes, the solution can be as simple (though by no means inexpensive) as providing bus stops or train stations within a certain distance from residences and offices.

In other cases, the solution can be as innovative as allowing transport network services (think Uber) or taxis to ferry passengers from stop to home/work or vice versa.

The implication here is that private sector innovation should be encouraged. The private sector is probably in the best position to test the commercial viability of a technology innovation. If the

innovation creates more efficiency in business operations, it is more likely to be financially sustainable which, therefore, increases the chances of expansion. That is good for the consumer. However, as technology and innovation tend to run ahead of the regulatory framework, some arrangement will need to be arrived for balanced regulation— one that gives room for innovation to prove itself while protecting consumer interests.

The second implication is that technology and innovation generate new data; in this case, Big Data.

Because so much data is generated so quickly, technology, logistics and telecommunications companies probably own more data and possess more computing power than most government agencies.

Sharing their data and analytics will probably help the government transportation and infrastructure planners do a better job of transport planning. Imagine the mobility patterns you can see through Big Data on a day-of-the-week, timeof-day basis. Uber can precisely do this and correlate data and patterns with such things as weather (rain, storms) and events (think of how traffic patterns change in areas hosting concerts, sports events, or large outdoor events). Mobility patterns can tell you where people live, work and play. That, in turn, tells planners where to create new train stops, bus stops, or bicycle paths and wider roads.

But not everything needs to be concentrated in densely packed urban areas. There is a powerful rationale for building up transport systems to service or connect secondary areas. Whether we are talking of airports, ports, roads, or rail, linking to secondary areas serves two purposes.

It prevents over-concentration of assets (and, therefore, too much risk) in large cities. Just imagine if a country had only one major international airport and that airport was shutdown. That country would effectively be isolated. Multiple sites means having built-in resilience to risk.

A second benefit would be that it would promote inclusive growth.

Imagine the effect of linking suppliers in the hinterland to markets in urban areas (and providing urban-based services to rural areas).

As finished products are shipped to the hinterlands, raw materials could be brought to urban centers.

That would spur inclusive growth.

Transportation for all is certainly a challenge in the Philippines.

With so much catching up to do, we better take some of these lessons to heart before we hopelessly clog up our system to the point of inclusive immobility.

Guillermo M. Luz (gm.luz@competitive.org.ph) is private sector cochairman of the National Competitiveness Council and an alternate member of Abac Philippines.

Part 6 Note: We continue the reprint as a series of the Holy Father Pope Francis encyclical Laudato Si (On Our Care for Our Common Home).

Loss of biodiversity

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he earth’s resources are also being plundered because of shortsighted approaches to the economy, commerce and production. The loss of forests and woodlands entails the loss of species which may constitute extremely important resources in the future, not only for food but also for curing diseases and other uses. Different species contain genes which could be key resources in years ahead for meeting human needs and regulating environmental problems.

It is not enough, however, to think of different species merely as potential “resources” to be exploited, while overlooking the fact that they have value in themselves. Each year sees the disappearance of thousands of plant and animal species which we will never know, which our children will never see, because they have been lost forever. The great majority become extinct for reasons related to human activity. Because of us, thousands of species will no longer give glory to God by their very existence, nor convey their message to us. We have no such right.

It may well disturb us to learn of the extinction of mammals or birds, since they are more visible. But the good functioning of ecosystems also requires fungi, algae, worms, insects, reptiles and an innumerable variety of microorganisms. Some less numerous species, although generally unseen, nonetheless, play a critical role in maintaining the equilibrium of a particular place. Human beings must intervene when a geosystem reaches a critical state. But nowadays, such intervention in nature has become more and more frequent. As a consequence, serious problems arise, leading to further interventions; human activity becomes ubiquitous, with all the risks which this entails. Often a vicious circle results, as human intervention to resolve a problem further aggravates the situation.

For example, many birds and insects which disappear due to synthetic agrotoxins are helpful for agriculture: their disappearance will have to be compensated for by, yet, other techniques which may well prove harmful. We must be grateful for the praiseworthy efforts being made by scientists and engineers dedicated to finding solutions to man-made problems. But a sober look at our world shows that the degree of human intervention, often in the service of business interests and consumerism, is actually making our earth less rich and beautiful, ever more limited and grey, even as technological advances and

consumer goods continue to abound limitlessly. We seem to think that we can substitute an irreplaceable and irretrievable beauty with something which we have created ourselves.

In assessing the environmental impact of any project, concern is usually shown for its effects on soil, water and air, yet few careful studies are made of its impact on biodiversity, as if the loss of species or animals and plant groups were of little importance. Highways, new plantations, the fencing-off of certain areas, the damming of water sources, and similar developments, crowd out natural habitats and, at times, break them up in such a way that animal populations can no longer migrate or roam freely. As a result, some species face extinction. Alternatives exist which at least lessen the impact of these projects, like the creation of biological corridors, but few countries demonstrate such concern and foresight.

Frequently, when certain species are exploited commercially, little attention is paid to studying their reproductive patterns in order to prevent their depletion and the consequent imbalance of the ecosystem.

Caring for ecosystems demands farsightedness, since no one looking for quick and easy profit is truly interested in their preservation. But the cost of the damage caused by such selfish lack of concern is much greater than the economic benefits to be obtained. Where certain species are destroyed or seriously harmed, the values involved are incalculable.

We can be silent witnesses to terrible injustices if we think that we can obtain significant benefits by making the rest of humanity, present and future, pay the extremely high costs of environmental deterioration.

Some countries have made significant progress in establishing sanctuaries on land and in the oceans, where any human intervention is prohibited which might modify their features or alter their original structures. In the protection of biodiversity, specialists insist on the need for particular attention to be shown to areas richer both in the number of species

Saturday, October 17, 2015

and in endemic, rare or less protected species. Certain places need greater protection because of their immense importance for the global ecosystem, or because they represent important water reserves and, thus, safeguard other forms of life.

Let us mention, for example, those richly biodiverse lungs of our planet which are the Amazon and the Congo basins, or the great aquifers and glaciers. We know how important these are for the entire earth and for the future of humanity. The ecosystems of tropical forests possess an enormously complex biodiversity, which is almost impossible to appreciate fully, yet when these forests are burned down or leveled for purposes of cultivation, within the space of a few years countless species are lost and the areas frequently become arid wastelands. A delicate balance has to be maintained when speaking about these places, for we cannot overlook the huge global economic interests which, under the guise of protecting them, can undermine the sovereignty of individual nations.

In fact, there are “proposals to internationalize the Amazon, which only serve the economic interests of transnational corporations.” We cannot fail to praise the commitment of international agencies and civil society organizations which draw public attention to these issues and offer critical cooperation, employing legitimate means of pressure, to ensure that each government carries out its proper and inalienable responsibility to preserve its country’s environment and natural resources, without capitulating to spurious local or international interests.

The replacement of virgin forest with plantations of trees, usually monocultures, is rarely adequately analyzed. Yet, this can seriously compromise a biodiversity which the new species being introduced does not accommodate. Similarly, wetlands converted into cultivated land lose the enormous biodiversity which they formerly hosted. In some coastal areas the disappearance of ecosystems sustained by mangrove swamps is a source of serious concern.

Oceans not only contain the bulk of our planet’s water supply, but also most of the immense variety of living creatures, many of them still unknown to us and threatened for various reasons. What is more, marine life in rivers, lakes, seas and oceans, which feeds a great part of the world’s population, is affected by uncontrolled fishing, leading to a drastic depletion of certain species. Selective forms of fishing which discard much of what they collect continue unabated. Particularly threatened are marine organisms which we tend to overlook, like some forms of plankton; they represent a significant element in the ocean food chain, and species used for our food ultimately depend on them.

In tropical and subtropical seas, we find coral reefs comparable to the great forests on dry land, for they shelter approximately a

Good news is bad news for China

By Michael Schuman Bloomberg View

O

N Monday the Chinese government will once again try to convince the world its troubled economy is not that bad off after all. Third-quarter GDP data will be released, and whether the growth rate beats or misses consensus estimates, it’s likely to be touted by the government as proof of the economy’s continued resilience.

No doubt that’ll help further calm investors, whose worst fears about China have ebbed recently. Overly bearish perceptions of China’s economy have become “thoroughly divorced from facts on the ground” proclaims the latest China Beige Book study. In a survey conducted in October by Bank of America-Merrill Lynch, only 39 percent of fund managers queried considered China the biggest “tail risk,” down significantly from 54 percent a month earlier.

Those investors shouldn’t get too comfortable. The panic that roiled global stock and currency markets over the summer may well have been overblown. But the real risks to China’s economic well-being are long-term, and they haven’t diminished. In fact, the strong growth rates could

be setting the stage for a harder landing later.

Even the regime agrees that China’s economy is seriously flawed. Excess capacity is rampant in steel, cement and other industries. Debt has risen to astronomical levels. The growth model China used during its hyper-charged decades— unleashing productivity by tossing its 1.3 billion poor workers into the global supply chain—has lost steam as costs rise and the workforce ages.

How well is China tackling these problems?

Not very. Debt continues to rise even as growth slows. IHS Global Insight estimates debt will increase to 254 percent of GDP in 2015, up from 248 percent last year. In all-too-many sick industries, zombie companies are being kept afloat by creditors and the government.

Deeper free-market reform is needed to spur entrepreneurship and innovation and better allocate financial resources to the most efficient companies. Yet, despite much talk from President Xi Jinping and his Communist Party comrades, progress has been glacial. The government’s new plan to improve the performance of bloated state enterprises is underwhelming.

Authorities have done little to make the banking sector more commercially oriented or to open the economy to greater foreign competition or

capital flows. The government’s heavy-handed intervention to quell a midsummer stock market swoon was rightly seen a step backward.

Above all, the economy needs to “rebalance” away from its unhealthy reliance on investment—which according to Goldman Sachs’ Ha Jiming, totaled 46 percent of GDP last year, more than during Mao’s disastrous Great Leap Forward. Government officials and some economists use top-line GDP data to claim consumption is playing a bigger role in the country’s recent growth. Since investment has dropped off somewhat, that’s probably true.

But that hardly means Chinese consumers have gone on a shopping binge. According to research outfit LMC Automotive, sales of passenger vehicles in China dropped by 1 percent in August from a year earlier, while consulting firm IDC recently forecast only 1.2-percent growth in 2015 for shipments of smartphones in China, down from nearly 20 percent in 2014. Nor is the government exactly helping matters: A long-awaited liberalization of interest rates on bank deposits remains incomplete even though it could swiftly put more cash in the pockets of the average family.

Economist Christopher Balding has done some crack research pointing out that the

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million species, including fish, crabs, molluscs, sponges and algae. Many of the world’s coral reefs are already barren or in a state of constant decline.

“Who turned the wonderworld of the seas into underwater cemeteries bereft of color and life?” This phenomenon is due largely to pollution, which reaches the sea as the result of deforestation, agricultural monocultures, industrial waste and destructive fishing methods, especially those using cyanide and dynamite. It is aggravated by the rise in temperature of the oceans. All of these help us to see that every intervention in nature can have consequences, which are not immediately evident, and that certain ways of exploiting resources prove costly in terms of degradation which ultimately reaches the ocean bed itself.

Greater investment needs to be made in research aimed at understanding more fully the functioning of ecosystems and adequately analyzing the different variables associated with any significant modification of the environment. Because all creatures are connected, each must be cherished with love and respect, for all of us as living creatures are dependent on one another. Each area is responsible for the care of this family.

This will require undertaking a careful inventory of the species which it hosts, with a view to developing programs and strategies of protection with particular care for safeguarding species heading towards extinction.

(To be continued) Caritas Manila’s Segunda Mana will open its 22nd charity outlet at Paseo de Santa Rosa in Laguna.

Segunda Mana are used and preloved items such as apparel, footwear, accessories, among others that may benefit others; slow and nonmoving inventories that may still be used; and goods that consume space in one’s closets, cabinets and garages which are still reusable or recyclable. These items are donated by generous companies, organizations and individuals, and are offered at friendly prices in stalls. Caritas Manila’s Segunda Mana advocates the 3Rs: reuse, reduce and recycle. These 22 charity outlets, likewise, provide employment to almost 6.7 percent unemployed from the urban poor sector, and livelihood to families who make trading as their source of income.

Proceeds of both Caritas Margins and Segunda Mana help sustain Caritas Manila’s flagship program Youth Servant Leadership and Education Program, which focuses on education for the underprivileged youth, supporting 5,000 scholars nationwide.

To know more about the programs of Caritas Manila, visit www.caritas. org.ph. For donations, call 563-9311.

For inquiries, call 563-9308 or 5639298. Make it a habit to listen to Radio Veritas 846 in the AM band, or through live streaming at www.veritas846.ph.

For comments, e-mail veritas846pr@ gmail.com.

service sector isn’t expanding as quickly as the bulls believe. His figures also show that the “new economy”—information technology, retail, accommodation —is making little headway against the “old economy” sectors such as construction, manufacturing and property. “The China rebalancing story still has many large hurdles of facts and strategy to overcome,” he concludes.

Meanwhile, the government continues to find ways to bolster that old economy. Yet, another round of debt-financed infrastructure spending is in the works. Beijing’s ambitious Silk Road initiative to build roads, ports and railways throughout Asia and beyond is meant to be a bonanza for Chinese construction firms. All this may tamp down joblessness today, but at the cost of greater productivity and efficiency in the economy.

A reckoning could be unavoidable. The Conference Board figures that unless China presses ahead more aggressively with pro-market reforms, GDP growth could sink to 4 percent from 2020. That sharp a slowdown would spur widespread unemployment and destabilize debtladen companies. So don’t worry so much about the data out of China today. Worry about what those numbers may look like five years from now.

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News

BusinessMirror

Saturday, October 17, 2015

China seen facing hard bump to growth in next 5-year plan

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hina’s leaders are poised to lower their growth target for the next five years, as they wrestle with challenges from rising debt to excess industrial capacity and bloated state enterprises.

More than two-thirds of 16 economists surveyed by Bloomberg News expect the growth target to be set at an annual average pace of 6.5 percent, or less, for 2016 to 2020, down from 7 percent the previous five years. A quarter of the economists said growth will slip below 4 percent year-on-year at some point during the next five years—perhaps, not a hard landing, but a hard bump for an economy that has averaged about 10-percent growth over the past three decades.

The 13th five-year plan is poised to be the first since Deng Xiaoping opened the nation to the outside world in the late 1970s to confront an era of sub-7-percent annual growth.

The deliberations of the plan will be announced after the October gathering in Beijing, known as a plenum.

It will then be formally approved by lawmakers at an annual parliamentary session in March.

At stake for President Xi Jinping

and Premier Li Keqiang is whether China can shift from a middle-income to high-income nation, a feat Nobel laureate Michael Spence says has been realized by only five economies—Japan, South Korea, Taiwan, Hong Kong and Singapore—while maintaining relatively high-growth rates. Crafting of the five-year plan coincides with heightened anxiety over China’s economic outlook, following a stock-market slump and surprise yuan devaluation in August that roiled global markets.

Success, stagnation

“This five-year plan and its outcomes will define whether the leadership of Xi and Li will be associated with economic success or stagnation,” said James Laurenceson, deputy director of the Australia-China Relations Institute at the University of Technology in Sydney. “Themes, such as promoting domestic

consumption and industrial upgrading, were included in the previous five-year plans, but now they’re imperatives, not worthy aspirations.”

Growth this year is on pace for the slowest expansion in a quarter of a century, as exports falter and investment-spending growth slows. The third-quarter expansion slipped to 6.8 percent from a year earlier, according to economists surveyed by Bloomberg News ahead of data due on Monday.

A boom in the equity markets added an estimated 0.5 percentage point to growth in the first half, according to Bloomberg Intelligence economists. That has now “turned to bust,” suggesting the financial sector’s contribution to GDP in the third quarter will be smaller, Tom Orlik and Fielding Chen wrote in a note.

Xi and Li face constraints, including an aging population and shrinking work force, vested interests opposed to market-driven change and anemic demand from abroad for the nation’s exports. Success will require a shift to more innovative, higher-valued industries requiring greater creativity, allowing state enterprises to fail, and building a financial system that directs capital more to vibrant private companies than deadbeat state ones.

Bloomberg news

PHL, V20 members present climate-change action plan Continued from A1

V20 is also pushing for the adoption of a financial-transaction tax and carbon pricing to more equitably distribute the burden of funding projects that mitigate the effects of climate change. The group reasoned out that industrialized countries are the ones responsible for accelerating the pace of climate change, while less developed

countries are the most vulnerable to its adverse effects.

“Available policy options must be further examined, including the adoption of financial-transaction tax and carbon pricing to get incentives right and generate resources necessary to mitigate irreparable damages from climate change,” Purisima said.

He said these policies should be put into action now, not only by the V20, but, more important, by the

Tetangco’s warning shots make phl peso region’s steadiest. . .

Continued from A1

That compares with 18.85 percent for Malaysia’s ringgit and 15.7 percent for Indonesia’s rupiah. Philippine reserves have increased in the past year, while Malaysian and Indonesian stockpiles have slumped, and the nation’s economy is forecast to grow faster than its Southeast Asian peers in 2015.

“The peso’s relative stability is one of the Philippines’s main selling points,” said Wee-Ming Ting, the Singapore-based head of Asian fixed income at Pictet Asset Management Ltd. The volatility “ is much less compared with some of the currencies in the region. That’s viewed positively by investors,” he said.

‘Quite successful’

Moral suasion is the influence which the central bank exercises to induce or convince banks to conduct operations in a manner that would contribute to the attainment of monetary goals, Bangko Sentral ng Pilipinas (BSP) says on its web site. Sometimes it doesn’t necessarily support the lenders’ objectives of maximizing profits, it says.

“Because the banks know that the BSP is available for consultation, we have been quite successful in containing volatility,”Tetangco said in an e-mailed response to questions. “The banks are also aware that we monitor market conduct closely, and that we would not hesitate to exercise supervisory action if we believe there is unusual market activity.”

The peso has been shielded from much of the market turmoil this year

due to the Philippines’s relative lack of dependence on commodity exports and comparatively low levels of foreign investment in its stocks and bonds.

Money sent home by Filipinos working overseas and a burgeoning businessprocess outsourcing industry have buoyed expansion. The Philippine economy is forecast to grow 5.9 percent this year, according to a Bloomberg survey, compared with 4.9 percent in Malaysia; 4.8 percent in Indonesia; and 2.7 percent in Thailand.

Stable currency

As the rupiah and the ringgit plunged last quarter and then rebounded sharply this month, the peso’s movement has been more muted. The Philippine currency declined 3.5 percent in the three months through September, compared with a 9-percent drop in the rupiah, and has risen 2 percent so far in October as the ringgit rallied 6.6 percent.

While the peso has been supported by the Philippines’s relatively strong economic fundamentals, the currency would be more volatile without the central bank’s use of moral suasion, said Patrick Ella, an economist at Security Bank Corp. in Manila.

“In times of stress, definitely the central bank will not only deploy moral suasion but other tools, as well,” he said, referring to intervention in the foreign-exchange market. “In stressful periods they will increase the tools available, as well as the intensity.

Bloomberg News

whole international community which stands to lose much if the projects to mitigate the risks and effects of climate change are delayed any further.

The V20 is composed of Afghanistan, Bangladesh, Barbados, Bhutan, Costa Rica, Ethiopia, Ghana, Kenya, Kiribati, Madagascar, Maldives, Nepal, the Philippines, Rwanda, Saint Lucia, Tanzania, Timor-Leste, Tuvalu, Vanuatu and Vietnam.

CARS. . .

Continued from A1

nonserious players,” he added.

The DTI is currently drafting the mechanics on how manufacturers could qualify for incentives under the Executive Order 182, which authorized the rollout of CARS program.

Domingo said the program has “ambitious targets,” and that the DTI is now looking at how FIS could be shared among manufacturers of auto parts. Participants may be entitled to two kinds of fiscal support up to maximum of six years—FIS and the production volume incentive. Of the total perks to be given out, FIS would account for 40 percent.

The CARS Program, seen as the cornerstone of the government’s Manufacturing Resurgence Program (MRP), aims to revitalize the local auto industry and make the Philippines a car-manufacturing hub in Asia.

Approved by President Aquino in June, the program calls for new investments in manufacturing parts not currently available in the country, such as large carbody panels, bumpers, instrument panels, head lamps, shock absorbers, plastic fuel tanks and automotive fabric.

The Philippines is currently considered a laggard in car production. According to data from the Asean Automotive Federation, car assemblers in the country produced 63,511 vehicles in January to August this year. This pales in comparison to Indonesia, which produced 740,000 units, and Malaysia’s 417,654 units.

Editor: Gerard S. Ramos • lifestylebusinessmirror@gmail.com

Life

BusinessMirror

Saturday, October 17, 2015

A7

How to say ‘I’m sorry’—and mean it Be it in your personal life or professional relationships, a sincere apology can go a long way

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By Jessica Reynolds | Chicago Tribune

OU messed up. Maybe you made your spouse cry, forgot about your kid’s basketball game, got caught in a lie—or worse.

An apology is in order. What should you say?

Our apologies are usually “woefully inadequate...because we have a fundamental misunderstanding about their purpose,” said Guy Winch, psychologist and author of Emotional First Aid: Healing Rejection, Guilt, Failure and Other Everyday Hurts. “Most apologies tend to be excuses or justifications that neglect to address the feelings of the person to whom we’re apologizing.”

Before you start to craft your apology, remember the goal is to make the other person feel better, not yourself.

“We will only feel better and less guilty, if they feel better and forgive us,” Winch said.

Sincerity will be at the root of any good apology, said Toni Coleman, a psychotherapist and relationship coach based in McLean, Virginia. “Too often apologies are delivered with a ‘but’ in an attempt at justification or rationalization,” she said.

But it was just one time. But I had a miserable day at work. But I didn’t think....

The moment you ask for forgiveness isn’t the time to make excuses, said Jonathan Alpert, psychotherapist and author of Be Fearless: Change Your Life in 28 Days (Center Street). It’s when you should show true remorse, Coleman said, and are open to listening to your loved ones explain how you’ve hurt them.

BLUEPRINT FOR AN APOLOGY “If apologies are an art form, most of us can barely finger paint,” Winch said. Admitting fallibility might be the first hurdle for many on the path to a good apology, but even those willing to own up to their mistakes should know how to do it effectively.

Winch said the ideal apology will include five specific ingredients:

1. An “I’m sorry” statement.

2. Expression of regret for your mistake.

3. An acknowledgment that social norms or relationship expectations were violated.

4. A statement of empathy in which you acknowledge that you understand how your actions my have hurt the other person.

5. A request for forgiveness.

Winch said No. 3—acknowledging why the act was wrong—“tends to sensitize the offender to the issue and reduce the likelihood of offending in this way again.” Make it clear to the person you harmed that you understand why your decision was a poor one.

Did you violate their trust? Break a promise?

Act selfishly? Say that.

But don’t go overboard. Keep the apology concise, Alpert said, and avoid saying too much or straying from the point. This could “dilute your intended message,” he said.

Even if your apology includes all the necessary parts, it needs to feel as if it has a heart, too.

“Don’t be afraid to show genuine emotion,” Alpert said. “This will go a long way in humanizing you and showing sincerity, both of which are critical in winning back trust and respect.” The trickier aspect of apologizing is identifying the best time to do it.

Good apologies require reflection and thought, so rushing one might make it less effective, Winch warned.

“Apologies that come too quickly can feel insincere,” Winch said, because they seem more like a knee-jerk reaction than deliberate recognition of your mistakes.

Alpert said the timing all depends on the circumstances. Waiting a few hours or days (whatever feels appropriate based on the offense) to give the person you wronged time

DR. Tina Santos (from left), breast cancer specialist and founder of Gift2Life Inc.; Monica Aveo, breast cancer advocate; and Ann Christine Palisoc, president of Philippine Wacoal Corp.

‘Keep Abreast’ about breast cancer

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hilippine Wacoal Corp. is celebrating the 10th year of its “Keep Abreast” campaign with its annual seminar that focuses on spreading awareness about the disease that impacts a staggering number of women—breast cancer. The forum is part of the brand’s yearlong advocacy to help improve the country’s alarming breast cancer statistics. The “Keep Abreast” campaign, which also includes free clinical breast examinations, is a joint effort between the Philippine Wacoal Corp. and non-governmental organization Gift2Life Inc. Breast cancer surgeon and specialist Dr. Tina Santos, who served as the spokesman during the first seminar held recently, highlighted the importance of early detection and lifestyle change in the fight against the disease.

“Breast cancer is a highly treatable disease. Committing to a lifestyle change that can lower risk factors and early detection remain very important and useful in defeating breast cancer.”

Philippine Wacoal President Ann Christine Palisoc added, “We have been making some improvements but we need to do more. There are a lot of factors that need to be addressed, like the element of fear among women.

Intensifying efforts like this can push individuals to take charge.”

A second free “Keep Abreast” seminar will be conducted on October 17, from 1 to 5 pm, at the Ateneo de Manila Professional Schools, Rockwell Center.

Everyone is also invited to participate in the Fun Run event “The Pink Run: D’ Feeting Breast Cancer” on October 25. To register, contact Concel Pangilinan at 892-5706 or 0917-8907620.

to calm down could play to your advantage.

“Initially after a wrongdoing, the person might be fuming with anger, hatred even, and they’ll be highly defensive,” Alpert said.

“Waiting for them to cool down will help ensure that your apology is better accepted.”

And even if you’ve left a wound open for a while, Alpert insists, “a late apology is better than no apology.”

“Most of us consider the words ‘I’m sorry’ the essence of an apology, but far too often these two simple words are nowhere to be found when we apologize,” Winch said. While “sorry” might be implied in your admission of error or guilt, “that doesn’t mean the other person doesn’t need to hear it.”

An empty “I’m sorry” is meaningless, Coleman said. A good apology “needs to be delivered with emotion and body signals” and should recognize how your actions hurt

the other person or people. If your apology feels forced, it is likely to leave the person who was wronged even angrier and less trusting than before, Coleman said.

“Clearly identify what it is you are apologizing for,” Alpert said.

Even if you offer the most detailed, earnest apology you could think up, understand that the person you wronged may not be ready, now or ever, to forgive. If your apology is rejected, “go back to the drawing board” and try again, Winch said. Be even more sincere next time.

Don’t be afraid to feel vulnerable.

“When people feel understood, when they feel you truly ‘got’ how your actions impacted them, they are far more likely to offer true forgiveness,” Winch said.

And if all else fails: “Ask the person what you can do to try to make things better,” Alpert said.

MAKING AN APOLOGY LAST Make it heartfelt. If you don’t mean every word of your apology, don’t expect the person you’ve wronged to buy it. Did you learn something about yourself in the process? Explain that, Alpert added. No excuses. “Don’t try to explain away why you said or did something wrong,” Alpert said. Instead, be direct and tell the truth about what happened.

Put yourself in the shoes of the person you hurt. Consider how the person you hurt was affected by your behavior, Alpert said.

Did it cause sadness, anxiety, or fear? Show empathy and, during the apology, say you understand why he or she may have felt those emotions.

If you vow to change, then...change.

“Words without action are empty and meaningless and often just reinforce the belief... that you aren’t sorry at all,” Coleman said.

M&S double-decker bus gives a fivefold experience with Children’s Hour A

S Marks & Spencer (M&S), one of the UK’s leading retailers, continues to tailor products and services toward the ever-changing consumer lifestyle, the British brand concurrently gives back to the world through innovative and unique ways that are wholesomely rewarding to souls in need. Together with Philippine Airlines, be surprised with what M&S brought to our shores this 2015.

Since its establishment, the business was built together with strong values of “Innovation, Inspiration, Integrity and In-touch.” It was definitely through their strong intangible foundation and heart of doing business that made them arrive and reach places beyond their homeland.

This year, together with the loving hands of Children’s Hour, a social-development organization that provides various programs for children in need of education, health and nutrition, protection, and financial support, M&S engraved a once-in-a-lifetime experience to these kids—an educational fieldtrip in an M&S double-decker bus as means of transport.

From a child’s curious mind, it is as if there are so many things to learn and uncover about the world. An educational fieldtrip can feed a constantly wondering mind, unleash inner brilliance, discover potentialities, spur interests, and explore horizons. The brand believes that every young soul out there deserves an unforgettable childhood experience that they get to grow and extend from. The fun-filled and interesting activities M&S had planned happened in early September.

Thrilled of actualizing this activity, M&S started off the weeklong educational trip at The Mind Museum with the Grade

3 students from Santo Rosario Elementary School. The schoolchildren got to see how expansive the universe is from the constellations and learned how prehistoric time was like. It was an interactive and fun way of getting to know how science works, and familiarizing the kids on how it plays a role in their daily lives. Joining the activity from Children’s Hour were Geenete Garcia, executive director; Kristine Milette, resource mobilization associate; and DJ/host Sam Oh, plus the M&S team.

With noses pressed on windows, the students from Center of Excellence in Public Elementary Education, together with the M&S team and volunteers from Children’s Hour, merrily went to Manila Ocean Park.

The students enjoyed viewing different marine animals, watched a sea lion show, and

were able to get a close encounter with the stingrays. Indeed, this was a fulfilling day for all of them as they fascinate themselves on how aquatic life is like.

On the third day, indigent kids who traveled a long way from Talim Island in Binangonan, Rizal, enjoyed an educational tour in Intramuros. Joining the historical tour was Patricia Bermudez-Hizon, celebrity ambassador for Children’s Hour. The students learned about the life and works of our national hero through the interactive displays. They were also amazed with how the Philippine historical past looked like as they passed by homes that were designed and built during Spanish era.

Meanwhile, the children from House of Refuge were joined by the Stallion Football Club and volunteers from Children’s Hour

and M&S Philippines for a day of sports.

The children were grouped and each team was assigned with a coach from the Stallion Football Club to guide them on the basics of football. It was an enriching activity for them as they learned the value of teamwork and, of course, the idea that practice makes perfect.

On the last day, Children’s Hour Ambassador Hizon celebrated her birthday by hosting a basketball clinic with the kids from Talim Island, Rizal.

This activity gave the children an opportunity to find out what skill they could offer to make their team win, while cultivating their interest in the sport, as well. Before the end of each tour, all the students and volunteers were given a bag of M&S food items to serve as tokens of appreciation.

Sports BusinessMirror

A8 | S

aturday, October 17, 2015 mirror_sports@yahoo.com.ph sports@businessmirror.com.ph Editor: Jun Lomibao

‘THE BEAST’ RAGES IN DOHA T

HE Alaska Aces’ Calvin Abueva has struck again.

Called “The Beast,” Abueva bared his fangs once more in front of a huge Filipino crowd, leading the Philippines’s

Manila North team to the quarterfinals of the International Basketball Federation (Fiba) 3x3 World Tour in Abu Dhabi with a revenge-flavored, do-or-die victory over Doha of Qatar in Pool D late Thursday night in the United Arab Emirates (Friday morning in Manila time).

Manila North rebounded from an opening game 21-17 loss to Kranj of Slovenia, where Mahindra’s Karl Dehesa was ejected, by knocking

FRANCIS CASEY ALCANTARA yields to more experienced Spaniard.

ALCANTARA CRASHES OUT T

OP seed Enrique Lopez-Perez of Spain booted out the last man standing for Team Philippines, Francis Casey Alcantara, 6-3, 6-3, in the 34th Philippine Columbian Association (PCA) Open-Cebuana Lhuillier International Tennis Federation Men’s Futures 2 on Friday at the PCA clay courts in Paco, Manila.

The 24-year-old Lopez-Perez relied heavily on his experience to breeze into the semifinal round of the tournament, supported by Cebuana Lhuillier, Puma, Dunlop, Head, Babolat, Compass/ IMOSTI and Rep. Manny Pacquiao of Sarangani.

“Okay naman ‘yung laro ko. Mas experienced lang talaga siya. Malakas ang bola niya, maganda ang serve niya. Napagod rin ako kasi ‘yung bola niya sobrang haba. Making it into the quarterfinals is still a good finish for me,” said Alcantara, who matched his second round finish in the Manila ITF Men’s Futures 1.

Lopez-Perez, who exploded with 14 aces,

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arranged a duel with fourth-seeded Jaoanese Arata Onozawa, who overpowered India’s Kunal Anand, 6-1, 6-1, in the event, supported by Whilpool/Fujidenzo, Broadway Motor Sales Corp.

Coca-Cola Femsa Philippines, Tyrecorp Inc., Pearl Garden Hotel, Metro Global Holdings Corp, Avida, PVL Restaurant, Mary Grace Foods Inc., Seno Hardware and Wire Rope Corp.

Third seed Kento Takeuchi of Japan also made it to the semifinals after beating No. 8 Yu Cheng-Yu of Chinese-Taipei, 6-4, 7-6 (5). Takeuchi will meet the winner of the match between Japanese No. 6 Makoto Ochi and Katsuki Nagao.

In doubles play, Alcantara and eight-time PCA champion Johnny Arcilla prevailed over national teammates Patrick John Tierro and Elbert Anasta, 6-4, 6-2, to advance to the semifinals.

The stellar combo of Alcantara and Arcilla will battle Soichiro Moritani and Masato Shiga of Japan, who defeated fellow Japanese fourth seeds Issei Okamura and Kento Takeuchi, 7-6 (4), 7-6 (2).

off 2014 Manila Masters tormentor Doha, 16-14, at 3 in the morning on Friday (Manila time) and moving to the knockout stage.

With an old issue settled, Manila North goes for payback on a more recent slight, facing 2015 Manila Masters winner and home team Novi Sad Al Wahda in the quarterfinals at 12:15 a.m. on Saturday (Manila time) Winners in the last Fiba 3x3 World Tour in Sendai, Japan, Novi Sad, featuring top 3x3 player Dusan Domovic Bulut, dominated Manila North, 21-14, in this year’s Manila Masters at

Robinson’s Place in Ermita and will be the major stumbling block to the four-man Filipino team’s title aspiration.

Dehesa was banished over a shoving incident with Manila North trailing, 8-4, at the 7:36 mark.

The undermanned PH team fell behind, 15-7, but battled back to within, 20-17, before Kranj’s Jure Erzen put the game away in mandatory fashion with a free throw in the last 3:23.

With Dehesa back in the lineup,

Manila North surged ahead, 5-0, against Doha.

The Qataris, behind Dominic James and Sammy Monroe, trimmed the deficit to 6-4, but Abueva, who finished with seven points, set up Manuel for an unchallenged slam that restored a 10-7 lead before making it 12-7 on a corner two.

Doha had a last gasp at 15-14 on a Tanguy Ngombo basket, but Talk ‘N Text rookie Troy Rosario came up with a big play, 16-14, with both teams tightening their defense the rest of the way and neither going beyond the final score.

A roar broke out from the predominantly Filipino crowd at the Cornice after the game, with the Manila North members, mobbed everywhere they turned, getting transferred from the team bus to a sleek SUV for their security and comfort, the only team accorded such luxury by the organizers.

All three teams in Pool D, including Slovenia’s Kranj, finished with identical 1-1

basketball tournament at The Arena in San Juan City on Friday.

De la Torre drained two free throws with 41.7 seconds to go and the Braves shut down the Junior Blazers the rest of the way to arrange another knockout showdown, this

time against the second-seeded Mapúa Red Robins on Tuesday for the right to play the San Beda Cubs in the finals.

“The boys showed heart,” Arellano University Coach Tylon Darjuan said in Filipino.

De la Torre ended up with a team-high 20 points, including the two pressure-packed free throws that gave Arellano University a decisive margin.

Lars Sunga and Carlo Abadezo made 14 and 12 points, respectively, for the Braves.

“We’re happy to make it here, but if given a chance, we hope to make it to the finals,”

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TEAM ASSUMPTION

Members of Team Assumption San Lorenzo whoop it up after ruling anew the girls division of the recent 2015 Interschool Championship International Container Terminal Services Inc.-Junior Golf Foundation of the Philippines developmental division. Conducted

by The Junior Golfers League, the young golfers played in different courses at Army, Navy, Greenfield and Riviera for a total of six rounds and best scores counted. The team members are captain Mikaela Arroyo, Monique Arroyo, Iya Fianza and Danielle Antonio. Mikaela Arroyo retains the individual champion for Grades 7 to 12, while her sister Monique is runner up in Grades 4 to 6.

UNIVERSITY of Santo Tomas (UST) tries to keep pace with leagueleader Far Eastern University as it faces defending champion National University (NU) in the main game of Season 78 University Athletic Association of the Philippines (UAAP) men’s basketball action on Saturday at the Mall of Asia Arena.

The Growling Tigers (7-1) battle the Bulldogs (3-5) at 4 p.m., with UST hoping to rejoin the Tamaraws (8-1) at the top spot.

Ateneo de Manila (4-4) also seeks a win that will keep the team in the race for a Final Four spot against the cellar-dweller Adamson University (1-7) at 2 p.m.

NU was the only team in the first round to hand the Growling Tigers their only loss, 55-54, on Alfred Aroga’s clutch fade-away jumper in the dying seconds.

But UST Head Coach Bong de la Cruz said the loss to the Bulldogs motivated his team more as they won four straight since that defeat, including a come-from-behind 81-79 win over De La Salle at the start of their second-round campaign.

De la Cruz added that they have not achieved anything yet, and they need to continue to keep on working hard and move closer for a possible top 2 spot in the Final Four and earn the twice-to-beat advantage in the next round. Joel Orellana

CIGNAL BATTLES MERALCO

CIGNAL tries to keep its hold of the top spot against winless Meralco in the 2015 Philippine Superliga (PSL) Grand Prix on Saturday at Cuneta Astrodome in Pasay City.

The HD Spikers look to preserve their 2-0 start against the 0-3 Power Spikers in the 1 p.m. duel. The second match at 3 p.m. pits Petron Blaze against Philips Gold.

All eyes will still be on Ariel Usher after she put up another 30-point explosion in a thrilling five-set victory over Philips Gold, 15-25, 25-15, 25-17, 19-25, 16-14, on Tuesday at The Arena in San Juan City.

Meralco Head Coach Ramil de Jesus, on the other hand, is leaning on a better finish from his team to end their skid.

The Power Spikers almost bagged their first win with a 2-1 advantage, but the gritty RC Cola Air Force Raiders fought back and prevailed in five sets, 20-25, 25-17, 25-20, 21-25, 13-15, on Thursday despite the stellar performances of import Liis Kullerkann who scored 18 points, and La Sallians Mika Reyes and Cha Cruz who scored 15 and 11, respectively.

Dindin Santiago-Manabat, who had a sensational game in their last game, and the rest of the Blaze Spikers are eyeing to capitalize their 2-1 slate.

Manabat sizzled with 28 hits in their five-set win over Foton Tornadoes, 21-25, 25-20, 2513, 12-25, 15-9, on Thursday. Lance Agcaoili

NAVY-COAST GUARD DUEL

records. Kranj and Manila North qualified for the next round due to tiebreak, which saw Doha eliminated after having scored the least amount of points among the three teams.

Kranj finished with a total of 34 points in their two games, while Manila North tallied 33.

Doha had 30.

»

CALVIN ABUEVA’S wows in Doha 3x3 World Tour. COURTESY SLAM

said Darjuan, whose team has made its first semifinal appearance since joining the league six years ago.

The Junior Blazers, who trounced the Lyceum of the Philippines Junior Pirates, 8871, in Tuesday’s playoff for the fourth and last semifinals berth, had two chances to steal the game, but Ricci Rivero missed a layup and Luigi Velasco couldn’t launch a decent shot as time expired.

Reigning “six-peat” champion San Beda clinched the first finals berth with an 18-game elimination round sweep.

PBA commish extends deadline for D-League draft applicants HILIPPINE Basketball Association (PBA) Commissioner Chito Narvasa on Friday announced that he has acceded to the request from some quarters to extend the deadline for D-League Rookie Draft applications to give aspiring players enough time to complete their eligibility requirements.

“We’ve been flooded by requests from player’s agents and Filipino-foreign applicants, asking for more time to enable them to work on their documents, particularly concerning their citizenship,” Narvasa said.

“We understand that obtaining documents from the Immigration and Justice departments take some time so we are extending [the deadline]. Besides, the D-league won’t start its season until January,” he added.

Fil-foreign players joining the Draft now have until October 30 to submit their applications. The new cut-off date for local-

TIGERS EYE SHARE OF LEAD VS EMBATTLED BULLDOGS

Arellano U in the hunt in ‘NC’ jrs hoops

RELLANO University leaned on Guillmer de la Torre’s free throws and key defensive stops in the stretch to beat La Salle-Greenhills, 75-74, and stay in the title hunt in the juniors division of the 91st National Collegiate Athletic Association

SPORTS PLUS

born players is on November 6.

Narvasa said he also adjusted the maximum age requirement for D-League players to 30 years old. During the past seasons, players more than 28 years old were no longer allowed to play in the league.

“We have a lot of unrestricted rookie free agents who can’t return to the D-League because of the maximum age requirement. It’s sad to see their skills go to waste simply because of the age restriction. The PBA wants to help them and hopefully give them another shot at the big league that’s why we’re doing this,” Narvasa said.

Narvasa also called on all school-based teams to submit the names of their new players so that the league can determine the drafting order.

He also called on all teams who have expressed their intention to participate to pay their entry fees on or before October 30. The Annual Rookie Draft is set on November 19.

NAVY and Coast Guard hope to get back into the groove following opening game setbacks, as they clash in the lone Shakey’s V-League Season 12-Reinforced Conference game on Saturday at The Arena in San Juan City.

The match, set at 12:45 p.m., kicks off another weekend of volley festival in the league where it all started, where fans will be treated to three live matches over GMA News TV Channel 11, according to the organizing Sports Vision.

Powerhouse Army and University of the Philippines collide on Sunday starting at 12:45 p.m. for the solo lead, while PLDT Home Ultera tries to gain a share of it when it faces newcomer Kia Forte at 3 p.m.

The Lady Troopers swept the Kia Forte, 25-15, 25-18, 25-11, while the Ultra Fast Hitters bucked the loss of ace Alyssa Valdez and Gretchel Soltones to defeat the Lady Dolphins, 25-10, 25-11, 25-20, as the fancied teams served notice of their title bids in the season-ending conference of the league, presented by PLDT Home Ultera and sponsored by Shakey’s.

Cignal TV Inc. and Air Force, meanwhile, hope to come out strong coming off a week-long break as they gun for win No. 2 and the solo lead, even as PLDT Home Ultera and Santa Elena shoot for their first win in the Spikers’ Turf Season 1-Reinforced Conference also at The Arena.

The Cignal-Air Force match is set at 5 p.m. in an explosive twin bill, which also features the PLDT-Santa Elena faceoff at 3 p.m.

NATL BADMINTON OPEN UP

PAULINE TAN and Kevin Cudiamat hope to live up to the hype against a slew of talented rivals as they lead the title chase in the 2015 Bingo Bonanza National Open badminton tournament, which unwraps on Monday at the Rizal Memorial Badminton Hall and Glorietta 5 Atrium in Makati City.

Tan of Maynilad gained the top seeding from Sarah Barredo in women’s singles with impressive finishes in tournaments leading up the Bingo Bonanza meet while Cudiamat, a Philippine Badminton Association (PBA)-Smash Pilipinas standout, remains the top player in the men’s side of the upcoming ranking tournament, sanctioned by the pba headed by Vice President Jejomar C. Binay and Secretary-General Rep. Albee Benitez.

The top-2 bets, along with the other seeded players, drew opening day byes, but all are expected to have their hands full when action in the weeklong event, sponsored by the country’s premier amusement center, goes full blast on Tuesday of the Third District of Negros Occidental.

Tan is tipped to bump into the likes of either fourth seed Airah Albo, also of PBA-Smash, or Tricia Pomar and Rose Lagnada, both of Far Eastern University (FEU)/Equiparco-BBC, and AlliedNVBA’s Aldreen Concepcion, while Barredo, winner of the recent FDG Cup, settles for the No. 2 seeding and is expected to run into defending champion No. 3 Gelita Castilo of University of the Philippines Diliman, Danica Bolos of Victor-PCOME, of Beverly Lagnada of FEU/Equiparco-BBC.

TILE MASTERS IN COMMAND

CAIDA Tile Masters continued its winning ways in the Philippine Commercial Basketball League Founders Cup by hammering a 94-82 victory over Jumbo Plastic, while Santa Lucia Realty survived another endgame collapse before outlasting Supremo Lex recently at the Filoil Flying V Arena.

The Tile Masters flexed their muscles from the get go, but they were able to dictate the tempo more when Billy Robles started to anchor the team’s fast breaking game.

Robles knocked in 19 points, including 11 in the fourth period as the Tile Masters outran their rivals, scoring 19 points in transition compared to only four from Jumbo Plastic.

Dexter Marquez added 14 markers, while sharp-shooting Ford Ruaya contributed 10 for the Mike Bunedia-caida Caida squad, which grabbed the early solo lead with a 2-0 record.

“Maybe ‘yung early preparations namin is bearing fruits. We’ve been practicing for a long time. ’Yung familiarity nung players, medyo lumalabas sa endgame. But we still have lapses, especially in turnovers. We need to work on it pa. Rebounding is another aspect we need to improve on because we’re not a big team,” said Buendia, one of the assistant coaches of Yeng Guiao at Rain or Shine in the Philippine Basketball Association.

True enough, Caida turned the ball over 20 times during the game.

Santa Lucia squandered a 15-point lead in the third period, but held on to survive upsetconscious Supremo Lex, 77-71, in the main game.